JP Morgan Asset Management has reportedly established a strategic partnership with Kasikorn Asset Management (AM), the investment arm of Thailand-based Kasikornbank (KBank).
The collaboration will combine JP Morgan’s expertise in investment management with the Thai asset manager’s local presence, brand recall, and distribution network in Thailand.
In addition, JP Morgan will offer market insights, intellectual resources, thought leadership, and sales training to Kasikorn AM.
JP Morgan Asset Management Asia Pacific CEO Dan Watkins said: “Building on the strong relationship, we are excited to enter the exclusive partnership and to capture opportunities in multi-asset and across the spectrum of other asset classes.
“The partnership reflects our commitment to becoming the global manager of choice for Thai investors and to growing and diversifying our business across the APAC region.”
Kasikorn AM has already been a long-standing partner of JP Morgan Asset Management in Thailand.
The company has more than THB1.49 trillion (around $42bn) in assets under management and a client base of above 1.46 million as of 30 November 2023.
According to the Kasikorn AM, around 60% of current Thai investors are experiencing volatility in their investment portfolios.
The company aims to develop a strategic plan with JP Morgan to address the issue by enhancing its global asset selection and allocation capabilities.
KBank CEO Kattiya Indaravijaya said: “This strategic partnership between KAsset and JPMAM, from fund management to quality product offerings tailored for KBank’s customers, will significantly enhance customers’ investment experience.”
In November 2023, JP Morgan unveiled its plans to strengthen its presence in the United Arab Emirates (UAE) with the expansion of payments and corporate banking business in Abu Dhabi.