Kasikorn Asset Management (KAsset) aims to grow the firm's assets under management (AUM) by 10% this year to 1.55 trillion baht, partly by reaching out to Kasikornbank's middle- and lower-income clients.
New executive chairman Adisorn Sermchaiwong said KAsset had the largest market share in the mutual fund industry in 2022 with an AUM of 1.41 trillion baht.
Of the total, 993 billion baht was in the mutual fund business, 234 billion in provident funds, and 188 billion in private funds.
This year the company aims to be the "top of mind" investment house. Its 2023 strategic plan comprises five major elements, led by focusing on effective fund management to ensure consistent and attractive returns for investors.
Secondly, KAsset aims to strengthen its creditability in the eyes of investors through suitable and straightforward recommendations in line with prevailing circumstances. Thirdly, it will take into account business partners' desires in the development of products to be sold to investors.
The fourth element of the strategic plan is efficient management of institutional investors' portfolios to ensure efficiency in asset and liquidity management for customers of institutional investors. Finally, the company will offer retirement plans via multiple options to meet the needs of provident fund members for their retirement, Mr Adisorn said.
KAsset will use its digital technology to reach targeted investor groups through the applications K My-Funds and K Plus. More than 1 billion baht will be allocated to upgrade its digital investment tools.
In 2022, KAsset had 357,086 clients making their investments via the digital channels of K Plus and K-My Funds, accounting for 43% of total investors, while it reached 136,842 new customers through all of its channels.
In addition, KAsset aims to tap the demand of middle- and lower-income clients of Kasikornbank, which has targeted the accounts of more than 10 million at present.
Regarding investment strategies, KAsset has advised investors to embrace a diversification strategy to cash in on global mega trends to withstand market volatility. In 2023, it recommends investors diversify their portfolio into 60% stocks, including global and Thai shares, 30% fixed income, and 10% alternative investments.
KAsset expects the SET Index to reach 1,800 points this year, supported by the country's economic growth, which is being propelled by the recovery in tourism.
"The overall global economy is set to slow down, and high volatility has been seen across global stock markets. Meanwhile, markets have already priced in signs of easing inflation to some extent," said Mr Adisorn.
Therefore, bright prospects will likely be seen in global stock markets once more, particularly in Asia, he said. China is set to lead the Asian boom as its economic performance is better than that of the US and Europe, thanks to the gradual reopening of the country, a massive consumer market, and technological advancements.
"Thailand exhibits a promising economic outlook, supported by the rebound in foreign international tourist arrivals, general elections scheduled for May 2023, and increased foreign investment," Mr Adisorn added.
