UOB Thailand’s new structured fund launch coincides with the rising trend among investors converting the US dollar from the Thai baht and buying US dollar-denominated funds.
United Overseas Bank (UOB) and its asset management arm are rolling out Thailand’s first US dollar-denominated structured fund. Distributed in September, the one-year principal-protected product tracks the Pimco GIS Income Fund. It aims to attract high-net-worth individual investors who have more conservative profiles and are looking for US dollar cash plus returns on the product with a capital protection element, according to Gidon Kessel (pictured) , UOB Thailand’s head of deposit