MFC celebrates its 35th anniversary with increased focus on “Customer Centric” strategy and a goal to become consumer’s name of choice through delivery of impressive fund performance and excellent services. To reinforce its status as the trusted financial brain for all groups of investors, MFC is poised to expand its customer base to the young generation and retirees and is fully ready to support government’s projects as professional advisors, in addition to a strong commitment in corporate social responsibility. The company expects its net asset value (NAV) to grow 27.79% from 234,742 million baht in 2009 to 300,000 million baht this year.
Dr. Pichit Akrathit, President of MFC Asset Management Plc. (MFC), announced as the company entered its 35th year of operation that, MFC would continue to focus on “Customer Centric” strategy this year to enhance customer’s wealthy and happy life. A continued series of market research studies will be conducted to obtain an insightful understanding of customer’s demands, based on which new funds and first-class services will be catered to ensure customer’s desirable return on investment and maximum satisfaction. These include professional services to be delivered by MFC’s fund managers and investment consultants, “MFC Smart Services” that provide online trading convenience through MFC Smart Track, MFC Smart Tele, and MFC Smart Trade, as well as marketing and promotional campaigns for all customer groups, such as mileage program.
Dr. Pichit reported that, as of the end of 2009, MFC’s total NAV stood at 234,742.28 million baht, an increase of 18,267.91 million baht or 8.44% above 216,474.37 million baht recorded at the end of December 2008. NAV of all mutual funds managed by MFC amounted to 150,423 million baht, rising 11.17% over 135,309 million baht posted a year earlier. In 2009, the company launched 32 new funds with a combined inception NAV of 13,547.12 million baht and paid out total dividends of 423.76 million baht to unitholders from 13 new funds.
MFC managed 44 provident funds with 546 companies and a combined NAV of 60,816.49 million baht at the end of 2009, which grew 8.74% or 4,886 million baht from 55,930 million baht in 2008. Services offered by MFC to the clients included online information of the fund’s investment portfolios, provision of investment training at client’s office, and special seminars. As for private funds, which included government pension funds that MFC managed for key accounts like Thai Red Cross Society, the NAV totaled 23,502 million baht in 2009.
MFC is blessed with the capability to provide full, professional support for government’s projects as financial advisor and manager of infrastructure funds and private equity funds. In 2009, the company served as the advisor in setting up Thailand Carbon Credit Fund and was advisor of the Public Debt Management Office in portfolio planning of funds for public debt restructuring and development of domestic fixed income securities market.
As for 2010, the company targets a 27.79% growth in NAV to 300,000 million baht and an increase in revenues to 700 million baht.
Dr. Supakorn Soontornkit, Senior Executive Vice President of MFC, added about activities held over the past year, saying that an emphasis was given to customer relations under MFC Fund Family program that spawned a continued series of lifestyle activities, such as cooking, painting, ballroom dancing, spa treatment, and movie screening, etc. Having received very positive feedback from customers, the company will this year carry on with this customer relations program on top of educational seminars held by the company on a regular basis. Another focus with be given to provision of first-class services to increase customer’s satisfaction and good impression of MFC’s services.
He elaborated that the year-round activities in celebration of MFC’s 35th anniversary would, as word of thanks, revolve around customer’s benefits to bring them happiness and wealth from good return on investment and highest satisfaction with the services offered. The company’s wealth management team will be further strengthened in areas of Wealth Committee, Wealth Services, and Wealth Analyzer Program to ensure that investment planning, consultancy, and tracking are up to the latest economic sentiment and investment conditions.
According to Dr. Supakorn, MFC plans to launch 30 new funds this year, divided into 12 fixed income funds, 1 equity fund, 5 flexible portfolio funds, 7 foreign investment funds, and 5 property funds. In terms of customer base, expansion will be focused on the young generation side by side with retirees. The company hopes to boost revenue from the new markets, both domestic and overseas, to 30% of total revenue.
In private equity funds, primary target areas for investment of MFC Energy Fund this year fall on biomass and solar sectors while fund will be mobilized for Thailand Creativity Fund and a study on renewable energy projects development will be conducted.
MFC was a SET Awards 2009 nominee in corporate social responsibility (CSR) category as a result of the company’s achievements in CSR last year. The company organized MFC Talent Award for sixth year in a row, implemented a project to upgrade library and donate learning equipment and materials to Ban Tha Chang School in Rayong with use of charitable allocation from fee revenue of MFC Islamic Fund and donation from the unitholders, and extended its support for academic excellence through “MFC Asset Management Professor of Finance and Banking” program. In 2010, MFC has planned a series of CSR activities throughout the year with adherence to the concept of “MFC… Building Thai Intelligence” to contribute to the betterment of education and knowledge in various disciplines and for the benefits of the Thai society at large.
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