The asset manager has become the first global fund manager offering offshore funds/global wealth solutions directly to Thai investors.
Having received a Limited Broker, Dealer and Underwriter License from Thai authorities, Aberdeen Standard Investments (ASI) will be able to deliver global wealth solutions and bring its suite of Luxemburg-domiciled global mutual funds to Thailand’s institutional and high-net-worth investors in a cost-effective manner.
In the coming months, ASI aims to introduce to Thailand investors a number of funds under the Aberdeen Standard SICAV I umbrella, spanning multiple asset classes and strategies including frontier markets bonds, China A-share equity, multi-asset diversified income and global smaller companies, an announcement on Tuesday said.
«Game Changer»
ASI's head of Thailand, Robert Penaloza, said the LBDU license is a «game changer» for the firm's business in Thailand, which was established in 2002, with over 20 domestic funds available for local investors through third-party distributors.
Thailand has relaxed its capital markets regulations in recent years, allowing traditionally home-biased investors to venture beyond domestic assets through feeder funds distributed by local asset management firms and regional banks, ASI noted in the announcement.
Growing ESG Awareness
«As the world battles the coronavirus pandemic and its economic fallouts, investors are facing unprecedented challenges today and looking to build more resilient portfolios. It is more important than ever that we help [Thai investors] expand their investment horizons and diversify into a breadth of asset classes and markets,» Penaloza said, adding that the pandemic is set to drive demand for more sustainable investment, given the growing awareness of environmental, social and governance (ESG) investing.
The Scotland-headquartered firm operates over 40 offices globally and managed £455.6 billion ($587.3 billion) in assets worldwide as of June 30, 2020.
