The partnership will combine JPMAM’s global investment management expertise with assets under management of $2.9trn and insights with Kasikorn Asset Management’s (KAsset) local capabilities, brand recognition and distribution network with assets under management of THB 1.49trn ($42.48bn), according to a joint statement by the firms.
JPMAM will use KAsset’s local presence and knowledge to offer its global investment products to Thai investors. KAsset, owned by Kasikornbank (KBank), will have access to JPMAM’s market insights, intellectual capital and thought leadership, as well as sales training to improve client engagement and product distribution.
“This strategic partnership between KAsset and JPMAM, from fund management to quality product offerings tailored for KBank’s customers, will significantly enhance customers’ investment experience,” said Kattiya Indaravijaya, chief executive officer of KBank.
KAsset has a customer base in the mutual fund, private fund and provident fund business of more than 1.46 million people (as of November 30, 2023).
“Currently, around 60% of Thai investors are experiencing volatility in their investment portfolio. To address this issue, KAsset is committed to developing its strategic plan with JPMAM of enhancing its global asset selection and allocation capabilities,” added Adisorn Sermchaiwong, KAsset executive chairman.
“All of this reflects KAsset’s determination to ensure that investors investment portfolios remain solid and can grow sustainably in the future.”
KAsset has already been a long-standing partner of JPMAM in Thailand
“Building on the strong relationship, we are excited to enter the exclusive partnership and to capture opportunities in multi-asset and across the spectrum of other asset classes,” said Dan Watkins, Asia Pacific chief executive officer, JPMAM.
“The partnership reflects our commitment to becoming the global manager of choice for Thai investors and to growing and diversifying our business across the Apac region,” he said.
