FSA has noted an inflow of assets into fixed income funds in Thailand in 2016, as investors turned away from equities following market volatility.
Today, 20 institutions in Thailand offer fixed income mutual funds. Eight of them have fixed income assets above $1bn. We looked at which institutions benefited most from the inflow of funds.
Kasikorn Bank, with assets of $16.5bn as of 28 February, leads the pack. Siam Commercial Bank (SCB) follows with $12.3bn. Both banks show a relatively flat growth.
Krung Thai Bank and TMB Bank, ranked third and fourth, respectively, show higher growth.
Top eight Thai fund managers by fixed income AUM
Source: Morningstar. Figures in US dollars
Foreign investment funds
In 2016, KAsset, the asset management division of Kasikornbank, dominates the foreign investment fund sector. However, the firm has lost marketshare compared to 2015, according to data from Morningstar.
The top 10 fund companies in Thailand by market share of AUM in foreign investment funds:
Source: Morningstar
Fund Portfolios
In terms of the makeup of Thai bank fund portfolios, 60.8% of Kasikornbank’s assets are in fixed income, 12.7% in money market, and 17.6% in equity funds.
However, Krung Thai Bank has even more in fixed income (81.8%).
| Fixed Income | Equity | Money Market | Allocation* | |
| Kasikornbank | 60.8% | 17.6% | 12.7% | 6.6% |
| Krung Thai Bank | 81.8% | 8.3% | 5.9% | 3.6% |
| Siam Commercial Bank | 58.3% | 12.1% | 18.2% | 10.4% |
