Provident-fund assets under management (AUM) by Tisco Asset Management as of last Monday totalled 100 billion baht, says president Araya Thirakomen.
As of July 31, the country's provident funds had 2.73 million employees and 13,626 employers with a combined AUM of 734 billion baht.
Tisco Asset is the country's largest provident fund manager by number of employers.
Some 3,300 employers or one-fourth of those with provident funds have hired Tisco Asset to manage their provident funds, and employee members number 530,000.
Srithai Superware Plc, Major Development Property Partners Co, Haco Group East Asia Co, Toshiba Asia Pacific (Thailand) and Samsung Thai Engineering Co have all established new provident funds with Tisco Asset Management this year.
The existing provident funds of United Paper Plc, Kao Thailand and Telenor have been transferred to Tisco Asset Management.
An employee's choice scheme that lets provident fund members choose a personal investment style through master pooled funds that meet their needs and online service development to facilitate them are major strategies for the company's AUM growth, said Ms Araya.
Tisco Asset's provident-fund members can switch their investment via the website. The company recently launched a service in which the company will pay instalments to retired provident fund members while continuing to manage the remaining amount.
About the author
- Writer: Nuntawun Polkuamdee
Position: Business Reporter