2023-06-27 13:11:00
Mr. Yosakorn Follett Chief Executive Officer X Spring Asset Management Co., Ltd. or XSspring AM revealed that in 2023, the Thai stock market has experienced volatility from both domestic and international factors, with both the Thai stock index SET Index and the medium-sized Thai stock index SSET falling more than – 10% considered underperformed Emerging Markets and ASEAN Stocks The main pressure factor comes from the weight of Thai stocks in high-energy stocks. The price of oil has dropped sharply in the past. Including downgrading earnings per share (Earnings per Share) forecast of the SET Index. In addition, the specific factor concerning negative market conditions in the case of debt default of debt issuers. This kind of high-value event has not happened in many years. Including the fact that some big stocks are stuck on the Cash Balance criteria, many factors put pressure on Thai stocks. The mai index dropped more than -20%, causing the market to go down or bear market. XSspring AM sees this as an opportunity for investors. Fundamentals that have accumulated investment in large Thai stocks (SET Index) at a level below 1,500 points, considering that Thai stocks still have strong fundamentals. Especially large caps, there is a chance that the price will rise by 10-15% in the next 12 months.
At the same time, foreign stock markets, both in the United States, began to recover. The NASDAQ stock market has remarkably recovered from its low on October 12, 2022, while the S&P 500 index has returned to a bull market as well. This face may be an unsightly horse due to slow economic growth. has a large proportion of the elderly population But on the other hand, the risk factors that put pressure on the Japanese stock market are relatively less than other markets. As for the Chinese stock market, even in the short term, it is down. But if looking at the big picture (for a period of 1 year or more), it is considered that the direction of recovery is better.
However, it can be seen that the factors that affect the macro economy are still complex and fluctuating over time, such as the recent situation with the rebellion in Russia. This is a result of the unrest situation between Russia and Ukraine. Therefore, investors should monitor factors that will directly and indirectly affect investment. and risk diversification Catch the moment to gradually buy. or when to hold cash Including assessing the ability to support their own investment risks. And most importantly, risk diversification in investments that are easy to understand and tangible. Like a fund in off-market assets (Private Asset Fund) that the investment period is not very long. And has a mechanism to protect once morest risks quite well, XSspring AM views that the second half of the year Private Asset Fund is interesting. This answer is good during the stock market volatility because it is an investment in Real Asset (tangible asset), not related to the listed investment asset (Public Asset).
However, investing in Private Asset Fund, Real Asset type, from the past performance of X Spring Asset Management Company, expects net IRR returns of around 10% and has the opportunity to win increased returns, such as investing in leading real estate. reliable in
easy to understand structure uncomplicated And when compared to the return of SET TRI in the past 1 year at -3.16% (information from www.set.or.th from 27 June 2022 – 27 June 2023) makes it possible to see that investment in this way It is very interesting that large investors will share regarding 10-20% of the portfolio to invest. Recently, Xspring has adjusted the limit for entering into private fund management contracts, starting at 2 million baht, which has a policy to invest in private. Asset Fund that has the main strength is the investment period in private assets of XSspring AM that is short, only 3-5 years, different from investing in other private asset funds that have an investment period of 5-10 years. Rewards to reach goals faster And the expected return is worth the risk. The charge is quite reasonable, there are no tiers of duplicate fees. and is an asset that is close to most Thai investors This makes it easy to understand fundamentals and asset quality.
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