Asset Management

J.P. Morgan and Kasikorn Asset Management Forge Strategic Alliance

J.P. Morgan Asset Management has reportedly entered into a strategic partnership with Kasikorn Asset Management, the investment arm of Thailand's fourth-largest bank, Kasikornbank (KBank).

This collaboration aims to merge J.P. Morgan's expertise in investment management with Kasikorn Asset Management's strong local presence, brand recognition, and distribution network in Thailand. Additionally, J.P. Morgan will offer market insights, intellectual resources, thought leadership, and sales training to the Thai asset manager.

KBank's CEO, Kattiya Indaravijaya, highlighted the bank's commitment to fund management, noting its significant role in establishing a solid financial foundation for its clients, nearly 1 million of whom are already investing in mutual funds.

The partnership comes at a time of increased market turbulence, as highlighted by Kasikorn Asset Management's executive chairman, Adisorn Sermchaiwong. He pointed out that about 60 percent of Thai investors are currently facing volatility in their investment portfolios. The collaboration aims to enhance the firm's global asset selection and allocation capabilities, especially in light of recent challenges such as the COVID-19 pandemic and global economic crises, which have contributed to ongoing market volatility and made investment decisions more challenging.

As of November 30, 2023, Kasikorn Asset Management managed over 1.49 trillion Thai baht (approximately $42 billion) in assets, serving a client base of over 1.46 million.