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Article: UK's Aviva Insurance Signs Deal with Thailand's Kasikorn Asset Management.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- February 20, 2004
CopyrightCOPYRIGHT 2004 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Nuntawun Polkuamdee, Bangkok Post, Thailand Knight Ridder/Tribune Business News
Feb. 20--Aviva Insurance, a leading non-life insurer, yesterday signed a one-year contract with Kasikorn Asset Management to oversee assets of some 700 million baht.
Annop Porntiti, Aviva's president, said the firm had no interest in applying for a mutual fund licence, as its asset size was relatively small and the company was relatively inexperienced in the field.
The new private fund set up with Kasikorn Asset would invest 90 percent of assets in fixed-income securities and 10 percent in equities.
Mr Annop said the company last year had returns ...