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KTAM Eyes B80bn in Property, Infrastructure Funds in 2014

By on Jan 14, 2014 in Property News

Krungthai Asset Management (KTAM),Thailand’s third-largest asset management firm, expects it will launch new property and infrastructure funds with a combined asset size of around 80 billion baht this year to strengthen its foothold in that segment.

The company manages property fund assets of 185.44 billion baht, which it expects to increase by 55-85 billion this year, said managing director Somchai Boonnamsiri.

It raised 60 billion baht in property funds under management last year,including Tesco Lotus Retail Growth Freehold and Leasehold Property Fund (TLGF), Thai Commercial Investment Freehold and Leasehold Fund (TCIF),Thai Retail Investment Fund and CP Tower Growth Fund (CPTGF).

Its goal is for property funds under management to raise fresh capital of 55 billion baht this year, he said, adding the company is negotiating with Electricity Generating Authority of Thailand (Egat) about its plan to launch two new infrastructure funds with a combined asset size of 25-30 billion baht.

Last year KTAM raised its assets under management (AUM) to 550 billion baht,up 27% year-on-year, beating its projection of 516 billion baht.

The company expects its AUM will grow 116 billion baht this year, with 47.62 billion from mutual funds,60 billion from property funds and 8.5 billion from private funds.

The company targets total AUM rising 18% this year from 550 billion last year,mainly driven by property and infrastructure funds at around 55 billion baht and mutual funds at 31 billion.

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Source | Bangkok Post 14 January 2014

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