ING Funds (Thailand) plans to launch four or five new property funds this year including one investing in Major Cineplex Ratchayothin, two each investing in university dormitories and hotels and one investing in a warehouse, the Bangkok Post reports.
''Most of the newly launched property funds are switching to attract local investors while demand from foreign investors is uncertain, even though the Bank of Thailand has relaxed the 30% reserve rule on foreign inflows into mutual and property funds,'' ING Funds CEO Maris Tarab said.
ING plans to test foreign interest in Thai property funds next month on a roadshow for the property fund of Major Cineplex Group Plc.
Vendor Guru has done the research to help you quickly find respected, cutting-edge Telephony companies with the products and services that are right for your business. Click here to learn more.Besides the property fund business, ING expects to expand the net asset value for provident funds this year by 58% to 35 billion baht. As of March 31, the company managed assets of 32.14 billion for provident funds. On May 22, it secured the contract to manage the provident fund worth 330 million for Thai Plywood Co.
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