News

ASI gets funds licence in Thailand

Grand_Palace_ThailandAberdeen Standard Investments (ASI) has become the first international investment manager to be granted a limited broker, dealer and underwriter (LBDU) licence from the Securities and Exchange Commission in Thailand. The award permits the global fund manager to offer offshore funds directly to Thai investors. The firm has been present in Thailand since 2002 but up to now has relied on third parties to distribute its 20 funds to local investors. The LBDU licence is indicative of the ongoing liberalisation of Thailand’s investment market and the increasing interest among Thai investors to look beyond their domestic market. Whereas they have previously gained exposure to international funds via feeder funds distributed by local asset managers and regional banks, they can now invest directly in a range of international funds under a single fee structure. ASI is aiming to introduce a number of new funds to Thailand under the Aberdeen Sicav I umbrella in the next few months, covering a range of asset classes and strategies including China A-share equity, multi-asset diversified income and frontier market bonds “This is a game changer for our business in Thailand,” said Robert Penaloza, head of Thailand at ASI. “We are excited to broaden our product offering for Thai investors, capitalising on our global investment expertise and long-term track record.” © 2020 funds global asia

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