Aberdeen Standard Investments (ASI) has become the first global mutual fund manager in Thailand to obtain a limited broker, dealer and underwriter (LBDU) licence from the Securities and Exchange Commission, which allows it to offer offshore funds directly to domestic investors in the country.
The LBDU licence opens up opportunities for the asset manager 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.
Following regulatory relaxations in Thailand’s capital markets in recent years, investors who are traditionally home-biased, have started venturing beyond domestic assets through feeder funds distributed by local asset management firms and regional banks. For the first time, they are now offered direct access to a range of international funds under a single fee structure.
“As the world battles the coronavirus pandemic and its economic fallouts, investors are facing unprecedented challenges today and looking to build more resilient portfolios,” says Robert Penaloza, head of Thailand at ASI. “It is more important than ever that we help them expand their investment horizons and diversify into a breadth of asset classes and markets.”
ASI, which has over 20 domestic funds available for local investors through third-party distributors, has had a strong presence in Thailand since 2002. Over the next few months, the firm aims to introduce Thai investors to a number of funds under the Aberdeen Standard SICAV I umbrella that spans multiple asset classes and strategies, including frontier markets bonds, China A-share equity, multi-asset diversified income, and global smaller companies.