New York-based J.P. Morgan Asset Management has formed a strategic partnership with Thailand’s Kasikorn Asset Management.
J.P. Morgan Asset Management (JPMAM) has established a strategic partnership with Kasikorn Asset Management – the funds arm of Thailand’s fourth largest lender Kasikornbank (KBank) – according to a statement.
The tie-up will combine the former's investment management expertise with the latter's local capabilities, brand recognition and distribution network. JPMAM will also provide market insights, intellectual capital, thought leadership and sales training to the Thai asset manager.
«KBank attaches great importance to the fund management business. The bank is directly involved in building a strong financial foundation for its clients, of which nearly 1 million already invest in mutual funds,» said KBank CEO Kattiya Indaravijaya.
Increased Turbulence
According to Kasikorn Asset Management executive chairman Adisorn Sermchaiwong, around 60 percent of Thai investors are experiencing volatility in their investment portfolios. This is part of the motivation behind the partnership to enhance the firm’s global asset selection and allocation capabilities.
«Over the past 3-4 years, the market has been beset by COVID-19 and a global economic crisis. These factors have led to persistent market volatility, making it increasingly difficult to assess situations and make smart investment decisions,» he said.
As of 30 November 2023, Kasikorn Asset Management had more than 1.49 trillion Thai baht ($42 billion) in assets under management with a base of over 1.46 million clients.
