Bangkok--11 Apr--Bangkok Bank
‘Bualuang Infrastructure Open-end Fund’, distributed by Bangkok Bank and managed by BBL Asset Management (BBLAM), has won a Lipper Award for Best Equity Fund 2005 in Thailand.
The award comes as a result of the fund’s outstanding performance over the past three years.
Voravan Tarapoom, BBLAM managing director, said Bualuang Infrastructure Open-end Fund won the award by meeting all criteria set by Lipper, including risk-adjusted performance, consistent return, and preservation of capital.
“This award clearly reflects the success of BBLAM’s investment strategy which focuses on generating good returns over the long term by investing in stocks with consistent performance results and the potential to achieve a high level of profitability on the stock market,” Mrs. Voravan said.
“BBLAM invests in the stocks of companies with sound fundamentals, undervalued market prices, and high liquidity. In addition, we also consider factors such as the nature of the business and logical projections of the stock value in the future.
“BBLAM has enjoyed strong marketing success by distributing investment units in our funds to the country’s largest banking customer base via Bangkok Bank’s nationwide branch network, and by meeting the investment needs of those customers with instruments that offer a good rate of return.”
BBLAM’s success is evidenced by the combined net asset value (NAV) of mutual funds under its management, which leaped from about Baht 8 billion at the end of 2004 to more than Baht 45 billion at the end of 2005. This year, the combined NAV has reached Baht 73 billion as of March 17, 2006. The significant increases in the NAV are attributable partly to the Bualuang Thanarat Mutual Fund, a secure and lucrative short-term debt instrument fund; and the retirement mutual fund (RMF) and Bualuang Long-term Equity Fund (LTF).
Lipper, a subsidiary of Reuters news agency, provides and analyzes information about mutual funds and asset management companies, as well as choosing funds that qualify for its awards. Lipper has worldwide operations which review more than 135,000 funds in every region. Lipper has granted awards to mutual funds in Thailand for the fourth consecutive year this year.