Bangkok--Jan 18--Bangkok Bank
Strong demand for secured investments has seen Bangkok Bank’s total mutual funds portfolio increase by more than 560 percent over the past year, growing from Baht 8 billion at the end of 2004, to more than Baht 53 billion.
The result comes after investors comfortably absorbed Baht 5.75 billion of investment units in the Bank’s Bualuang Thanarat 1/50 Mutual Fund, the fifth in the Bualuang Thanarat series.
Nationwide sales in the Bualuang Thanarat 1/50 Mutual Fund closed yesterday.
Bangkok Bank Vice President Suyanee Puripanyavanich attributed the strong growth to the bank’s ability to distribute funds that meet customers’ needs.
“As with each of the previous four mutual funds in the Bualuang Thanarat series, subscriptions for Bualuang Thanarat 1/50 exceeded the registered fund size of Baht 5 billion. We again had to exercise the greenshoe option and issue additional investment units totalling 15 percent of the registered amount, bringing the fund to Baht 5.75 billion.”
Ms. Suyanee said the five Bualuang Thanarat mutual funds had contributed significantly to Bangkok Bank’s total mutual funds portfolio over the past 12 months. The total Net Asset Value (NAV) of the mutual funds which the bank had distributed amounted to more than Baht 53 billion.
Investing in Bualuang Thanarat mutual funds via Bangkok Bank is an investment alternative which is secure, carries low risks, and offers higher rates of return than deposits and stocks. The bank’s extensive branch network is another factor contributing to the fund’s quick sale.
“Bangkok Bank has the country’s largest nationwide branch network which makes it easy for investors to buy units anywhere in the country. Investors can also buy or sell investment units conveniently through our ATM network and Bualuang Phone on 1333,” said Ms. Suyanee.
Bualuang Thanarat 1/50 is a highly secure mutual fund investing at least 99 percent of its assets in debt instruments issued or guaranteed by the Government. The fund is managed by BBL Asset Management (BBLAM), a Bangkok Bank affiliate. End.