Assets in Thailand mutual funds grew by 12.5% in 2017, of which 11% can be attributed to net new inflows, according to estimated fund flow data from Morningstar.
Total assets held in mutual funds amounted to THB 4.14trn ($132bn) at the end of 2017. The net inflows during the year added up to THB 403.6bn ($12.8bn).
Thailand mutual funds by asset class
Data: Morningstar, 31 December 2017. “Allocation” denotes mixed asset funds.
In terms of net flows, fixed income funds had the most with THB 298bn. Equity funds attracted THB 83.6bn and mixed-asset funds THB 81.2bn in net new inflows.
Unlike in China, where money market funds are the fastest growing fund products, Thai investors pulled back from money market funds, with net outflows of THB55.4bn.
Fixed-term funds, which are a specific feature of Thailand’s mutual fund landscape, also appear to have lost popularity. At the end of 2017, they accounted for only 14.1% of the total mutual fund market assets, compared to 21% at the end of 2016.
CG themed funds
In the second half of 2017, Thailand’s regulators launched an initiative to promote corporate governance (CG) by introducing CG-themed equity funds. By the end of 2017, eight such funds had been launched. Altogether, they have gathered THB3.78bn of assets.
Total AUM for these products was THB3.91bn at the end of 2017, which amounted to 0.38% of all equity funds.
Corporate Governance Funds in Thailand
| Fund Name | AUM in December 2017 (THB) | Launched |
| Bualuang Thai Equity CG | 809m | October 2017 |
| K Thai Equity CG RMF | 102m | November 2017 |
| Krungsri Thai Equity CG | 144m | August 2017 |
| Krung Thai Boon Trong Thai CG | 588m | September 2017 |
| SCB Thai Equity CG | 451m | September 2017 |
| Talis Thai Equity CG | 30m | September 2017 |
| TMB Thai Equity CG | 1.4bn | September 2017 |
| United Thai Equity CG | 385m | December 2017 |
Data: Morningstar, 31 December 2017
Looking at firms, Thailand’s biggest asset gatherer was TMB Asset Management. It attracted THB109bn of new assets, most of them in its fixed income offering.
BBL Asset Management added THB106bn of new assets, half of which are in its fixed income funds, a quarter in equities and the other quarter in mixed-asset products.
The market leaders by AUM — Kasikorn Asset Management and SCB Asset Management — were less successful in attracting new assets but their net inflows were still positive and they maintained their leading rankings:
AUM of asset management firms in Thailand
