One Asset tops local table

POST REPORTERS

One Asset Management won the award for best overall fund group at the 2007 Post-Lipper Thailand Fund Awards. Thanachart Asset Management was the best bond fund group, BBL Asset Management won for equities and Aberdeen Asset Management for mixed assets.

Another 11 individual awards recognised leading performance over a three, five- and 10-year period in the bond, equities, flexible and balanced fund categories.

UOB Asset Management took four individual fund awards, Kasikorn Asset Management three, Aberdeen two and Asset Plus and SCB Asset Management one each.

SCB and UOB received individual fund awards for the second consecutive year.

Darren Duffy, Lipper's vice-president and global head of production, said a ''decoupling'' was emerging between bonds and stocks in the world market. He said investors were more interested in alternatives such as hedge funds, real estate and private equity for higher yields.

Kenneth Koh, Lipper's research head for Asia ex-Japan, said the winners offered the ''ultimate in investment performance: delivering consistent strong risk-adjusted performance relative to their peers.''

Addressing the awards dinner last night, Deputy Finance Minister Sommai Phasee acknowledged the capital market was underdeveloped and needed more products for risk management and liquidity.

Baht volatility had also been a constraint on the capital market recently, he added.

He said the government aimed to build up the role of institutional investors and would also support privatisation, but under a clear, open process.

Bangkok Post
Tuesday March 20, 2007