SCBAM sets ambitious growth goal

SCB Asset Management (SCBAM) wants to grow its assets under management (AUM) by 10-15% to 2 trillion baht this year, maintaining its position as the top asset manager in Thailand's mutual fund industry.

- NUNTAWUN POLKUAMDEE

Chief executive Narongsak Plodmechai said SCBAM expects its AUM to reach 3 trillion baht by 2027, with annual revenue hitting 9-10 billion baht, up from 6 billion baht a year.

Despite the Thai stock market slump in the first quarter of 2025, the mutual fund industry posted growth, driven primarily by the bond market, said Mr Narongsak.

SCBAM's major assets amount to 1 trillion baht, with half of them classified as safe-haven investments. This portfolio reflects concerns over a potential US recession and global trade tensions from US tariffs, he said.