"Fund management in Thailand is gearing toward the international trend, whereby asset management companies have an independent major shareholder [and thus are not under a bank]," said an industry source who requested anonymity. The source said many reputed investment companies such as Blackrock and Templeton are independent from banks and the designated major shareholders in asset management companies. Most asset management companies in Thailand are under banks, with banks taking the lion's share (80-90%) of the market valued at 4.93 trillion baht. The largest two asset management companies, Kasikorn Asset Management and SCB Asset Management, control over 40% of the domestic mutual fund business. Financial regulators are also encouraging banks and their asset management subsidiaries to be independent in terms of products and investment policies.

Source: Bangkok Post July 31, 2018 23:26 UTC