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Posted by Monitor on June 24, 2008, 8:39 pm
Funds in Thailand extend gains
published: AsianInvestor.net - 25 June 2008
http://www.asianinvestor.net/article.aspx?CIaNID=3D79060
Mutual funds registered for sale in Thailand posted an average gain of
0.54% in May, extending April=92s average 1.21% gain, according to
Lipper data. The funds are down 0.16% on-average in the January to May
period.
Equity funds posted a 1.18% average return while mixed-asset funds
gained 0.78% on average. The low-risk-profile portfolios such as
protected funds, bond funds, and money market funds notched up 0.02%,
0.20%, and 0.18%, respectively. Commodity funds still outperformed and
beat soaring inflation, posting an average return of 1.19% in May,
25.72% for the first five months of 2008 and 57% for the past 12
months.
Equity Thailand funds posted an average return of 0.84%, still better
than the benchmark Stock Exchange Index=92s 0.35% gain. Equity funds
that invest oversees sharply outperformed, especially those that
invest in emerging markets Europe (+11.22%), Japan (+8.09%), and
global emerging markets (+5.29%). Equity funds that invest in China
and Far East emerging markets were laggards, posting average losses of
7.90% and 6.38%, respectively.
The best performing equity funds last month were the Manulife Strength-
Emerging Eastern Europe FIF and Asset Plus Nippon Growth portfolios,
which posted gains of 11.22% and 8.09%, respectively. At the bottom of
Lipper=92s performance chart is TMB China Equity Index, which posted a
loss of 7.90%.
In Thailand=92s bond market, Thanachart Fixed Income FIF 2 and Tisco
Australia Bond were the outperformers, with returns of 6.13% and
4.68%, respectively, following an unexpected gain from baht
depreciation. The worst performing bond fund was Bualuang Thanasarn
Plus 19/08, with a loss of 1.74%.
=93The investment outlook remains bumpy from the inflationary threat,
which has been apparent for a number of months and which could worsen
unless world crude oil prices stop rising,=94 says Suthee Luangaramkul,
a Bangkok-based research analyst at Lipper.
Average performance of fund groups registered for sale in Thailand in
May:
Equities +0.20%
Commodities +1.19%
Mixed Assets +0.78%
Bonds +0.20%
Money Market +0.18%
Protected +0.02%
Copyright AsianInvestor.net, a subsidiary of Haymarket
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