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Richest Thais on track to sit on $401 bn, report says

News Summed Up 2019-06-12 05:30:00

The SCB Julius Baer Wealth Report Thailand 2019 said the combined worth of the top tier in the economy was US$341 billion in 2018 and would see a healthy gain to $401 billion in 2020. She was joined by Pearlyn Wong, head of investment publishing Asia at Julius Baer, and Mark Matthews, head of research Asia at Julius Baer. Wong and Matthews project that offshore investment in stocks, as well as in mutual funds, will be a rising trend for Thai HNWIs. Matthews said rich Thais are starting to seek more opportunities to make offshore investments, especially in the US market as well as the Swiss market. SCB Julius Baer is a strategic wealth management joint venture between Siam Commercial Bank and Julius Baer, a Swiss wealth management group and one of the four largest private banks in Asia.