Bangkok--Feb 16--Bangkok Bank
Bangkok Bank is now selling the seventh fixed-income mutual fund ‘Bualuang Thanarat 3/50’ at branches nationwide from February 15 to 21, 2006, following customer demand for secure investments and higher returns than deposit interest rates.
Last month, Bangkok Bank sold the fifth and sixth funds in the Bualuang Thanarat series, of which investments units of Baht 5.75 billion and Baht 3.45 billion, respectively, were comfortably absorbed by investors.
Bualuang Thanarat 3/50 is an open-ended mutual fund with a lifespan of 11-12 months and will mature around February 2007. The fund will automatically redeem investment units twice, with the first redemption scheduled for the first six months and the second when the fund matures. It will redeem the investment units at a minimum rate of 4.0 percent per annum. Investors will receive their investments back via automatic redemption without having to pay personal income tax.
The Bualuang Thanarat 3/50 mutual fund offers Baht 5.0 billion of investment units and has been registered with the Securities and Exchange Commission (SEC). The fund can be extended by 15 percent, or Baht 750 million, if it receives strong interest from investors.
Bangkok Bank Senior Vice President, Suyanee Puripanyavanich, said the bank had sold six Bualuang Thanarat mutual funds with a combined value of more than Baht 33 billion since September 2005.
“Bualuang Thanarat mutual funds have consistently sold out because they meet the current demand by investors for secure short-term investments with better returns than deposit interest rates. Each of the six funds we have distributed received such strong demand from investors that we had to exercise the greenshoe option to extend their sizes, with five of them extended to the ceiling allowed by the SEC.”
“Mutual funds in the Bualuang Thanarat series invest in secure, short-term investments with time to maturity of one year and low risk. The funds are expected to offer a better return than current deposit interest rates, and are exempt from personal income tax,” she said.
The Bualuang Thanarat 3/50 mutual fund is managed by BBL Asset Management (BBLAM). The fund plans to invest in debt instruments issued by the Government, such as treasury bills, government bonds, or debt instruments issued or guaranteed by the Financial Institutions Development Fund and also holds some of its assets in deposits.
For more information about the Bualuang Thanarat 3/50 mutual fund, please call Bualuang Phone on 1333, or BBLAM on 0-2679-6400.
Note: Investments in mutual fund carry certain risks. Investors are advised to study information about the fund before deciding to invest. End.