Investments - Idea Sharing?

[fletchsmile]

I haven't seen many threads dedicated solely to the idea of where what to invest in. There are a few ideas around on different threads, but they don't seem to be in a single place, so I thought I'd try and start one to maybe bring a few ideas together in a singe place or take them apart for that matter.

A few of my own themes ad holdings in the hope other people will exchange ideas:

Thailand: I'm pretty much pro Thai medium-long term. The pick up to 900 has been a little quicker than expected, but I'm looking for 1100 plus mid next year. Risks being elections, HM's health, coallition government. I use Aberdeen Mutual Funds, Ing funds in Thailand, and Lion Star Thailand & Aberdeen Thailand via Singapore. Was also interested to see the recent bond auction was placed with the yield a few bp lower than the last one, due to XS liquidity in the market. i.e the money is there, waiting for a home maybe? As someone who lives here, linking part of my future to the Thai markets and THB is more important than when I was UK based. With around 20-25% of my equity portfolio here, I'm overweight by most people's standards, but have done nicely over the last 7 years.

Vietnam: I'm interested in this. Maybe going to catch up Thailand soon. I find it difficult to get exposures there. I'm not a fan of singe stocks, tho' Lion Capital Singapore have a Vietnam fund, if anyone has any views/experience thoughts. I'm thinking of dipping my toes in there. I think on-line bond trading next year will bring added focus and interest. It's also picked up business from a weak Thai economy this year.

China and India have been good years. Tho' I've started to look elsewhere. Haven't really found it yet tho'! Still some good gains. India I thought was a bit overdone last year but have been pleasantly suprised this year, even tho I'd started to look elsewehere. China well speaks for itself. Or does it?

Asia generally: like a lot of makets: I particularly like Melchoir Asian Opportunities fund. The fund manager for the Group is an Asian, who was sharp in the way they picked HK as a route into China, not just in spotting HK as an opportunity as most did. Particularly with China now starting to invest the other way via HK. Also like some of Aberdeens Asia Funds.

Looking around for other ideas, as I've become more and more Asia and Emerging markets focused, so looking for something different. I've been doing quite well with:

- Merril Lynch Black Rock Gold & General Fund. I always struggle to find easy ways to get gold exposure. These guys seem pretty good at doing it, and par of the strategy is investing in companies hat produce the commodities, rather than commodities themselves

- JPM Natural Resources Fund. I like this for their approach to emerging markets by recognising their need for commodities.

Both have had excellent 5 years records, both in discrete and cumulative terms.

Currencies: I don't have any strong preferences at the moment. I expect the THB to weaken a little. Maybe around 35 to $ at y/e. Once ther poitical situation clears there may/may not be some interest in the onshore/offshore spreads unwinding. To be honest would just like to see a smooth rate between the two, as I fnd it more of a hassle than an opportunity. USD I'm not really into. SGD always seems to disappoint.

US Markets: Have been reducing my exposures to USD and USD markets since start of 2001. I really don't see the future there. It will never again be as important as it was, but will have a say in the world for years to come. I think the trend of markets decoupling from US will continue. i.e Also Asia' where it's at, but where next...

UK, Europe. I'm a little more pro these than USD. Have been increasing EUR at expense of USD for quite a few years. Think it may start to turn, but I find it hard to be optimistic about US

Japan: Has been the smallest part of my portfolio for years. Every time I increase equity exosures it usually disappoints. One day maybe...

These are ay own views and not recommendations to anyone. By nature I look mid-long term for themes, and usually have mostof my money in equities, usually thru mutual funds. Not a big bond fan, tho' Indonesia has been interesting for a few years. I'm not a day trader, and don't based my investments around volatilies etc, for me that's a little more trading than investing. That said, I'm open minded and never afraid to take a small punt, even if just for the fun of it, or to learn. I figure 90% I'm happy with what I'm doing so why not take a few risks...

Anyway. A few ideas. Agree or Disagree. Very happy for ideas/open to debate or suggestions. Don't really care whether you're an expert or novice, optimist or pessimist (BingoBongo special invitation to you sir!). As long as you're open minded want to exchange ideas, learn or any other positive reason for posting.

Everyone's got a view. I believe there's a few of us interesting in hearing it. Just one request: Would appreciate if the flamers and people who just want to insult others go and play elsewhere.

Edited October 15, 2007 by fletchthai68

[fletchsmile]

BTW In case you think you don't know enough to post, I thought I'd add my first experience with a stockbroker. I was around 16 and had done well on a couple of UK government privatisations which I'd just seen people do. Didn't even agree with capitalism at that age, but thought if others did it why not? After looking up stockbrokers in my home town and picking my stock, I took about 250 quid out of my building society, and went off to buy some shares. I walked into the stockbrokers office and said I want to buy shares of XYZ here's my money. They smiled at me then started to explain how it all really worked. Trading accounts, settlement accounts, market makers, (no online in those days) and that I should take my cash back and wait for settlement day.

The point being... I knew very little when I started - even less than I thought I did. But I was treated with respect and courtesy. If they'd have treated me like the **** I probably was, I'd probably never have developed my interest. That's how I've found the real people who know anything about investments to be, and probably the most important investment lesson I learnt. Yes by all means have a laugh sometimes, but do it with respect...

Edited October 15, 2007 by fletchthai68

[MrSquigle]

I bought some tremendous shares in 2000, they immediatley rocketed to half there value.

Still have them somewhere, dunno what they are doing now.

Friend of mine in Oz taught himself about 18 months ago now. Developed a real interest in it, must have opened a sleeping natural skill as he has done very well with it.

Another 2 friends just started delving into it based on a trading course they did, last rteports they are doing ok, very happy with it at around $5k a month just pottering around.

I wish I had the knowledge to do it as it is something I had wanted to do for sometime now.

[sonicdragon]

For me, I have quite little exposure in equities at the moment.

I too have both the Merrill Lynch Blackrock and the JPMF mining funds. Another one I have which might interest you for exposure to gold is the Millennium BullionFund (http://www.bmsinc.ca/ for more info).

I have a few asian equiity funds - HSBC GIF Chinese equity, Allianz Oriental Income, JF Eastern Trust and Baring Developing Markets (the latter is not just asian), and the Vina Capital Vietman Opportunity Fund. *edit/I have been scaling out of these in the last few months.

Outside asia, I have some very conservative property funds (ground rent type funds), and a quite a lot of hedge funds - Thames River Warrior, GAM Diversity, Greenway Long/short, Permal FX, ManAHL Futures.

My biggest single holding is the Diapason Rogers Commodity Index fund (agricultural sector).

I'm not directly investing in thailand since I believe other markets have better opportunities - I see continued political turbulance in thailand and the lack of transparency worries me.

I believe we are in a period of continued debasement of currencies, which is causing de facto inflation, and protecting against this is one of my biggest concerns, as is contructing a porftolio that is very well diversified accross many asset classes.

As for currencies, I have been avoiding the US$ as much as possible, but the alternatives are not particularly compelling. I have most exposure in Euro, GBP and AUD.

Since we are laying our cards on the table here, I have a background in economics, academic and real-world, and spent several years as a trader in London and Hong Kong (equity derivatives, convertible bond arbitrage and distressed debt, all buy-side)

Edited October 15, 2007 by sonicdragon

[Jokerpoint]

Here's an idea for all of you with money or connected to it. I have a client who wants to trade USD to EUR, cash 4 cash, total of about $10.000.000,- Rate for the exchange will be good, funds are to be traded in 3 or 4 different occasions in a short period of time.

People and funds behind the deal are real and solid, no scams here.

Interested parties PM me!

[wasabi]

How about Africa?

ISHARES S AFRICA (AMEX: EZA)

[bingobongo]

avoid housing, sit in cash, and watch for Oct 31, if the US FED cuts rates again, gold, oil, and commodities will continue higher, if not, the $ will rebound albeit for only a short time

also look at the Yen, as it is looking very cheap and will climb higher as the yen carry trade is unwound

[Naam]

Here's an idea for all of you with money or connected to it. I have a client who wants to trade USD to EUR, cash 4 cash, total of about $10.000.000,- Rate for the exchange will be good, funds are to be traded in 3 or 4 different occasions in a short period of time.

People and funds behind the deal are real and solid, no scams here.

it goes without saying that all parties who engage in "cash for cash" transactions are rock solid. only shady people use the usual banking channels.

[Naam]

avoid housing, sit in cash, and watch for Oct 31, if the US FED cuts rates again, gold, oil, and commodities will continue higher, if not, the $ will rebound albeit for only a short time

also look at the Yen, as it is looking very cheap and will climb higher as the yen carry trade is unwound

and it's only a matter of time till carry trades are unwound. analysts predict that since approximately 7 (seven) years. so what is your forecast BingoBongo? another seven years?

[maccaroni man]

we found a medical group that has great promise dealing in stem cell and spa like treatments etc.....www.absolutehealth.biz

they will be opening a hospital on rama 3 very soon as well.

[bingobongo]

anyone watching the 10yr US bond yield? it keeps climbing, Bernake can't control the long end of the yield curve despite his rate cuts, watch Oct 31, US FED FUNDS rate decision at 2:15PM est

there is a famous saying, currency markets are smarter than equity markets, and bond markets are smarter than both.........bond market says inflation is rampant and $ turns to poo

pretty soon I will have a Yen for Yen (i made a pun)

as the $ turns to poo, by gold, silver, and short the S&P and NASDAQ by the following ETFs........

Symbol on AMEX: QID - ETF to short the NASDAQ

Symbol on AMEX: SDS - ETF to short the S&P

Edited October 16, 2007 by bingobongo

[bingobongo]

[sonicdragon]

avoid housing, sit in cash, and watch for Oct 31, if the US FED cuts rates again, gold, oil, and commodities will continue higher, if not, the $ will rebound albeit for only a short time

also look at the Yen, as it is looking very cheap and will climb higher as the yen carry trade is unwound

and it's only a matter of time till carry trades are unwound. analysts predict that since approximately 7 (seven) years. so what is your forecast BingoBongo? another seven years?

Carry trades will unwind and rewind as the shifting sands of interest rate differentials and risk aversion change. It's not just a one-off thing.

[sonicdragon]

anyone watching the 10yr US bond yield? it keeps climbing, Bernake can't control the long end of the yield curve despite his rate cuts, watch Oct 31, US FED FUNDS rate decision at 2:15PM est

there is a famous saying, currency markets are smarter than equity markets, and bond markets are smarter than both.........bond market says inflation is rampant and $ turns to poo

pretty soon I will have a Yen for Yen (i made a pun)

as the $ turns to poo, by gold, silver, and short the S&P and NASDAQ by the following ETFs........

Symbol on AMEX: QID - ETF to short the NASDAQ

Symbol on AMEX: SDS - ETF to short the S&P

I agree with you as far as the long end of the curve goes, and having exposure to gold and silver (and I would add other precious metals and some commodities). However I would be cautious about shorting the equity market through ETFs. Don't forget that stock markets can rally very strongly in the face of inflation, when the fed is printing money. Of course the party would come to an end at some point (when realisation sets in) but timing it can be very difficult. I'd rather just avoid the US equity markets alltogether (perhaps trading it from the short side a little, around the margins).

[fletchsmile]

For me, I have quite little exposure in equities at the moment.

I too have both the Merrill Lynch Blackrock and the JPMF mining funds. Another one I have which might interest you for exposure to gold is the Millennium BullionFund (http://www.bmsinc.ca/ for more info).

I have a few asian equiity funds - HSBC GIF Chinese equity, Allianz Oriental Income, JF Eastern Trust and Baring Developing Markets (the latter is not just asian), and the Vina Capital Vietman Opportunity Fund. *edit/I have been scaling out of these in the last few months.

Outside asia, I have some very conservative property funds (ground rent type funds), and a quite a lot of hedge funds - Thames River Warrior, GAM Diversity, Greenway Long/short, Permal FX, ManAHL Futures.

My biggest single holding is the Diapason Rogers Commodity Index fund (agricultural sector).

I'm not directly investing in thailand since I believe other markets have better opportunities - I see continued political turbulance in thailand and the lack of transparency worries me.

I believe we are in a period of continued debasement of currencies, which is causing de facto inflation, and protecting against this is one of my biggest concerns, as is contructing a porftolio that is very well diversified accross many asset classes.

As for currencies, I have been avoiding the US$ as much as possible, but the alternatives are not particularly compelling. I have most exposure in Euro, GBP and AUD.

Since we are laying our cards on the table here, I have a background in economics, academic and real-world, and spent several years as a trader in London and Hong Kong (equity derivatives, convertible bond arbitrage and distressed debt, all buy-side)

Sonic

Checked out the bullion fund. It says it's conservative in nature, on commodities, so think it will have its time and place, and I'll bear in mind. Type of fund I've been interested in but never seen much of - guess I should look more at Canada.

Why you scaling out of Vietnam? Have been interested in it for a while, but haven't found my funds/routes

Similar views on currencies tho' I hold SGD instead of AUD, more for convenience and history than anything. Have been thinking of getting an on-line FX trader. I tried one a few years back, but never did anything after the month's free trial expired. Can't get too excited by currencies at the moment tho'.

My single biggest holding is Aberdeen Thailand Fund, and living here I can't/don't want to escape THB exposure. I expect THB to weaken, but am not so worried as in many ways it will be a base currency for part of my life, plus I want the equities exposure.

Looking at some of your holdings, one for consideration I also hold is Jupiter Emerging European Opportunities. Has been interesting on some of the east european/developing markets. Someone also mentioned Africa. Will add a separate post as this is getting long

[fletchsmile]

How about Africa?

ISHARES S AFRICA (AMEX: EZA)

Cheers for the thought. Will check it out further.

Have wondered about Africa for a while, but has previously been difficult to access. Funnily enough I read a couple of articles recently and have identified one fund I was looking at. Both mentioned

Charlemagne Capital's Magna Fund. I also checked this as available from my fund discount provider.

Agreed with a lot of the articles thinking, especially on avoiding the US. They mentioned how movements in Africa stock markets don't correlate much with US. While Asia is starting to de-couple from US (I agree with this), it would still suffer if US suffers. On the other hand Africa could be good for diversification. 2 links below both had interesting things to say.

Two links:

http://www.fundstrategy.co.uk/cgi-bin/item.cgi?id=152048

(15 Oct)

http://www.moneyweek.com/file/35809/avoid-...-in-africa.html

(2 Oct)

Have to admit, even an optimist as myself is starting to see many markets looking high, and difficult to find alternatives. So think Africa could be very good to start dipping my toes into.

[fletchsmile]

I bought some tremendous shares in 2000, they immediatley rocketed to half there value.

Still have them somewhere, dunno what they are doing now.

Friend of mine in Oz taught himself about 18 months ago now. Developed a real interest in it, must have opened a sleeping natural skill as he has done very well with it.

Another 2 friends just started delving into it based on a trading course they did, last rteports they are doing ok, very happy with it at around $5k a month just pottering around.

I wish I had the knowledge to do it as it is something I had wanted to do for sometime now.

Mr.S

Wouldn't worry about it too much, we've all lost money along the way. Everyone likes to tell you their winners, not many tell their losers. So you often only hear about half of their trades On trading one of the risks I found was getting caught up in the excitement of the idea, and trying to run before I could walk. Like walking into a broker with cash in hand!

Next step was penny shares,

Some people like your mates are probably naturals. Not sure I was. Happy to share my own experience, I started in UK privatisations (almost guaranteed to make money). Made some money then jumped straight into penny stocks, high reward, but later found out high risk too in 1987. I enjoyed it, but it wasn't the most sensible start, and with my skills more like roulette. I learnt a fair bit tho'. Found similar with currencies too - I always wanted to be doing something, instead of being patient.

Few equity markets (as opposed to individual stocks) don't make a profit over any 5 year period, so the odds are stacked in your favour, if you're patient and spread your risk around. Along the way you pick up the knowledge of the markets and are better placed to actively trade more higher risk stuff later.

With a family now, my views have also changed from the reckless teenager. I now make sure 1) Sort out my cash - enough to get by for 3 months if something comes up 2) Sort out insurance and family protection in case something happens to me. After that 3) I look at investments. I found mutual fund a decent start as a core holding - with a few global funds. Every fund I hold has made money over 5 years. Just be prepared to set it aside for a few years and not chase the market. Under 5 years, I expect to lose now and again. With these 3 blocks in place I make a bit of money, as a foundation to take a few more risks. Step 4) is maybe most fund: I added a few layers on top: Including single shares, currencies, specialist funds. With 1), 2) 3) in place I'm less worried about shocks and can afford a few risks.

[fletchsmile]

Thought I'd also post my personal favourite Thai investment.... Thai Long Term Equity Funds (LTFs). eg Aberdeen Long Term Equity Fund.

Why?

1) If you live and work in Thailand, it fits with investing back into the society you live in

2) You can get tax benefits. Yep the Thai reveneue will actually reduce your tax bill. How many people here actually give you money handsum man ?

3) Great if you invest just before Xmas to pay less tax

4) Being a mutual fund it diversifies risk across various Thai equities

5) Has been averaging >20% p.a (excluding tax relief which would make even higher) - no future guarantee tho' so don't expect this, and don't be greedy.

How?

5) You can invest up to 15% of your income (maximum investment THB 300k) per year

6) You get tax relief at your highest rate. So as a 37% tax payer you save up to 111k, 30% save up to 90k etc

7) So for a 30% tax payer investing say 100k, it effectively costs you only 70k. You pay 100 and get 30k tax reduction. Already you have a paper gain of 30/70 = 42%, as it only really cost 70

8) On every 100 (for a 30% taxpayer) you therefore have a buffer vs loss. i.e only if it falls from 100 to 69 do you lose.

The disadvantages

9) You need to hold for 5 years. If you really need to get your money back, you can, but you would have to pay back the tax relief you got. Fair enough in my book. Plus investments like this should be mid-longer term anyway

10) They have more risk than cash. No guarantee the fund will increase in price, nor acheive 20%+ in future - obviously more reward too. But the tax break gives a buffer

11) Exposure is concentrated in a single country and currency. So you have currency risks and Thailand risk

As part of a portfolio I love it, and will do again this year in Nov/Dec

Again a personal view and not for everyone

[LaoPo]

Surprised nobody mentioned Brazil (maybe I missed reading it ?).

The Bovespa is up 275% in the last 5 years. They had a record trade surplus of $ 46 Billion in 2006. Brazil is a primary exporter of bauxite, gold, iron ore, manganese, nickel, phosphates, platinum, tin, uranium, petroleum, hydropower, and timber.

Mining giant Companhia Vale do Rio Doce (RIO) bought out Canada's Inco for $17 billion in cash: the largest acquisition by a Brazilian company ever.

Brazil is now the fifth biggest market in the world for IPOs, taking 47 companies public in the first eight months of 2007, raising $18.5 billion: a 330% increase from the same period in 2006.

An easy and very diversified method to invest would be the iShares MSCI Brazil Index (EWZ).

A country to watch

LaoPo

[Naam]

Surprised nobody mentioned Brazil (maybe I missed reading it ?).

The Bovespa is up 275% in the last 5 years.

A country to watch

LaoPo

and the currency doubled vs. USD!

[LaoPo]

Surprised nobody mentioned Brazil (maybe I missed reading it ?).

The Bovespa is up 275% in the last 5 years.

A country to watch

LaoPo

and the currency doubled vs. USD!

Yes, that's why the Brazilian government needs to buy more $'s :

Brazil stocks, currency gain on capital inflows

" The Bovespa index (.BVSP: Quote, Profile, Research) of the Sao Paulo Stock Exchange rose 0.95 percent to 63,048.4 points. The index, which has gained 41 percent so far in 2007, had reached a series of records in recent days.

Brazil's currency, the real (BRBY: Quote, Profile, Research), gained 0.28 percent to 1.802 per U.S. dollar.

The central bank bought dollars on the spot foreign exchange market for a fifth straight session as the U.S. currency pierced the psychologically important 1.8-per-dollar mark for the second time since Aug. 3, 2000."

From:

http://uk.reuters.com/article/oilRpt/idUKN...15?pageNumber=1

LaoPo

[fletchsmile]

This week I finally managed to lodge my last remaining paper certificates with a UK online broker. So all my UK bank accounts and investments are finally on line Am continuing to trickle money away from UK and Europe. US, I've only a small exposure, anyway, and don't fancy USD, US property or US stockmarket for the forseeable future. Asia's another story tho. So I've been looking for alternatives. Hence thanks for some of the ideas above:

Sold yesterday: Guinness Flight Venture Capital (VCT), Crown Place Venture Capital (VCT), SWP (small penny share), Singer and Freidlander UK Growth (inherited when their Football Fund proved very poor and they just merged the two). All are really just admin sales and tidying up small UK holdings, as they've all been poor and I should have sold years ago. SWP looks like it could have potential if you like speculative penny shares - I just got bored of it and my holding was small.

Bought yesterday: -Charlemagne Magna Africa Class B Accumulation - my first ever African fund. Like the idea of little correlation to other stock markets, and just to dip a toe in the water and start learning more about that investment area. Also with Oct 1987, Oct 1997 and now being in Oct 2007 thought it wasn't too bad an idea to move a little more away from traditional markets

-Junior Oils Trust Accumulation Units - small oil companies - sector looks undervalued. Like the fund manager and their approach

As always: my own personal views. Not connected to anyone else, and not recommended. Just posted for sharing ideas...

Edited October 17, 2007 by fletchthai68

[bingobongo]

dang i'm good.......buy yen,short the S&P, Nasdaq, and sit in cash......anyone notice the 9.2% haircut today in Indian equities also?

Yen Rises to 2-Week High as Stock Decline Deters Carry Trade

http://www.bloomberg.com/apps/news?pid=206...&refer=home

Edited October 17, 2007 by bingobongo

[jbaldwin]

I am 42. I stopped working in the UK, sold my house in London and moved to Thailand nearly five years ago.

Given that it is increasingly unlikely that I will ever return to the UK, my current priority is to gradually move a greater proportion of my investments into assets demoninated in Thai Baht. As most of my future expenditure will be in this currency this is important to reduce the level of currency risk.

The problem is what to invest in.

I do not want too much on deposit in Thai banks given that a one year deposit here pays 2.25%, whereas Nationwide in currently paying 6.7% for a one year deposit in pounds.

Also Thai equities, while they look cheap to me, are very much more volatile than "developed country" equity markets. If I put too much in Thai equities then what I gain on lower currency risk might be lost with higher equitiy risk.

So I am looking at other assets classes.

The most obvious choose with be to purchase another Condo to rent out. In Pattaya there is fairly strong demand from long term falang stayers who do not want to own property. Rental yields are about 7.5%. However, I am negative on capital values in Pattaya given the very hugh amount of new development aimed at the falang market.

One other possibility would be commercial property funds, such as Future Park Property Fund or Ticon Property Fund. These yield between 7% and 9% and appear much less volatile than Thai equities. Anyone has a view on these funds?

[cmsally]

The Aberdeen Funds are ones that seem to come up again and again. Are we talking about 1 fund or are there different types.

OK I just answered my own question with a google:

Aberdeen Assets

Does anyone have any idea which would be the best choice, best performance etc.

I haven't really got into any funds or equities in Thailand but maybe this is a good place to start.

Any particular selling agent that would be better than another - seems you can buy through Kim Eng, HSBC and many others.

For bank deposits here I wouldn't hold any more money than I needed the interest rates are awful.

Another good long term investment could be condos close to BTS close to completion. There could be some bargains when it comes close to transfer.

[fletchsmile]

Does anyone have any idea which would be the best choice, best performance etc.

I haven't really got into any funds or equities in Thailand but maybe this is a good place to start.

Any particular selling agent that would be better than another - seems you can buy through Kim Eng, HSBC and many others.

We hold 5 "Thailand only" funds:

-Aberdeen Growth Thailand, Aberdeen Long term Equity Fund, ING Thai Equity Fund: All held in Thailand

-Lion Capital Thailand, Aberdeen Thailand: Held via Singapore in SGD.

Aberdeen Growth has been one of the best longterm performing Thai funds you can buy here. I believe it still heads 5yr+ charts. However, in the last 3-6months its performance relative to other Thai funds has dropped, and ING seem to be leading the way. AG is still up about 14% over 6 months and 18% YTD tho' so can't complain. Aberdeen's LTF is good for the tax breaks and performance similar to their Growth fund, tho' slightly better recently.

We've done a combination of buying direct, and buying thru a selling agent (Standard Chartered Bank). The charges are usually the same whether you buy direct or thru a selling agent, and surprisingly low for Thailand. Which is probably why fund discount houses haven't caught on. The small advantages of selling agents you get are:

-they can consolidate your holdings across different fund managers;

-they send updates/market info promotions if you like that sort of thing; and you can talk to their wealth management advisors for opinions on funds, eg which is the best Thai fund.

- if you do via your bank eg HSBC, Stan Chart, etc they will count the funds under management towards criteria for priority banking services, with a few small benefits, eg fees waived on certain other bank products, etc

-I feel it also adds a small level of extra protection. Although they're not legally bound if something untowards happens with the fund manager, I have seen selling agents step in to help in different ways in other countries.

The small disadvantages seem to be an extra admin layer, but not really notable, and perhaps takes a little longer between placing your initial order and execution, tho again not much.

BTW Aberdeen and ING Thailand also now do worldwide funds. These could be useful if you earn money in Thailand, and don't want to send it overseas, but want an investment that pays more than cash (subject to risks) but is more diversified than a single Thai fund

There are other fund managers, eg UOB, TMB, Manulife, Ayudhaya, TISCO, but I'm most comfortable with Aberdeen and Ing, because of the global expertise, practises and good names. I believe they will hold themselves to international standards in addition to Thai regulations.

Jus my own views tho, and not a recommendation to anyone...

[samran]

If you are working here, I've been banging on about Long Term Funds (LTF) which act as a tax deduction.

Agree that probably Aberdeen and ING are the best of the bunch. Personally, I've gone with the ING Good Corporate Governance fund, which I feel has been great as there is a flight to quality even amongst emerging markets. I am very happy with the returns over the past year and a bit, and acted as a bit of a natural hedge since I now earn USD!!

[cmsally]

Does anyone have any idea which would be the best choice, best performance etc.

I haven't really got into any funds or equities in Thailand but maybe this is a good place to start.

Any particular selling agent that would be better than another - seems you can buy through Kim Eng, HSBC and many others.

We hold 5 "Thailand only" funds:

-Aberdeen Growth Thailand, Aberdeen Long term Equity Fund, ING Thai Equity Fund: All held in Thailand

-Lion Capital Thailand, Aberdeen Thailand: Held via Singapore in SGD.

Aberdeen Growth has been one of the best longterm performing Thai funds you can buy here. I believe it still heads 5yr+ charts. However, in the last 3-6months its performance relative to other Thai funds has dropped, and ING seem to be leading the way. AG is still up about 14% over 6 months and 18% YTD tho' so can't complain. Aberdeen's LTF is good for the tax breaks and performance similar to their Growth fund, tho' slightly better recently.

We've done a combination of buying direct, and buying thru a selling agent (Standard Chartered Bank). The charges are usually the same whether you buy direct or thru a selling agent, and surprisingly low for Thailand. Which is probably why fund discount houses haven't caught on. The small advantages of selling agents you get are:

-they can consolidate your holdings across different fund managers;

-they send updates/market info promotions if you like that sort of thing; and you can talk to their wealth management advisors for opinions on funds, eg which is the best Thai fund.

- if you do via your bank eg HSBC, Stan Chart, etc they will count the funds under management towards criteria for priority banking services, with a few small benefits, eg fees waived on certain other bank products, etc

-I feel it also adds a small level of extra protection. Although they're not legally bound if something untowards happens with the fund manager, I have seen selling agents step in to help in different ways in other countries.

The small disadvantages seem to be an extra admin layer, but not really notable, and perhaps takes a little longer between placing your initial order and execution, tho again not much.

BTW Aberdeen and ING Thailand also now do worldwide funds. These could be useful if you earn money in Thailand, and don't want to send it overseas, but want an investment that pays more than cash (subject to risks) but is more diversified than a single Thai fund

There are other fund managers, eg UOB, TMB, Manulife, Ayudhaya, TISCO, but I'm most comfortable with Aberdeen and Ing, because of the global expertise, practises and good names. I believe they will hold themselves to international standards in addition to Thai regulations.

Jus my own views tho, and not a recommendation to anyone...

Thank you for that fletchthai, that's very helpful. I think I might "dip my toes" into both ING and Aberdeen in a few months time.

[No beleeeeve!]

Just a few tidbits from REUTERS...

BANGKOK, Oct 18 (Reuters) - Thailand's benchmark stock index was up 0.50 points, or 0.06 percent, at 885.03 points in thin turnover of 6.4 billion baht ($187 million) at 0737 GMT on Thursday.

Stocks on the move included:

- Tipco Asphalt PCL fell 1.7 percent to 28.25 baht on analyst expectations its third-quarter net profit would fall sharply from a year earlier.

Asia Plus Securities said in a research note it expected Tipco's asphalt sales to fall 15 percent to 2.39 billion baht in the third quarter and operating profit to drop 31 percent to 61 million baht.

The broker rated the stock a "hold" with a 2008 target price of 28.85 baht.

0738 GMT

- Shipper Thoresen Thai Agencies PCL jumped 3.13 percent to 66 baht following a four percent rise of shares in its subsidiary Mermaid Maritime Public Co , which made its trading debut earlier this week in Singapore.

Broker Globlex said in a research note TTA was likely to report higher third-quarter net profit due to rising freight rates.

0739 GMT

- BEC World PCL , the country's second-most popular television broadcaster, rose 0.4 percent to 23.20 baht on analyst expectations of strong quarterly earnings.

Kim Eng Securities said BEC third-quarter earnings would rise 18 percent from a year earlier to 502 million baht due rising advertising spending and good television rating.

0746 GMT

- ACL Bank PCL rose 1.6 percent to 6.25 baht after it chose China's ICBC for negotiations on selling its 19.3 percent stake in ACL Bank, Thailand's smallest.

See [iD:nBKK336147] for details

0747 GMT

- T.K.S. Technologies PCL , a digital printing and IT firm, rose 1.3 percent to 3.10 baht, having climbed to a near four-month high of 3.22 baht after the firm said its 50-percent owned subsidiary Synnex (Thailand) Co planned to list in Bangkok by the end of second quarter of 2008.

See [iD:nBKK309675] for full story

0748 GMT

- NUmber one Bangkok Bank was unchanged at 121 baht, but number three Siam Commercial Bank rose a little to 81 baht ahead of third-quarter results due after 1000 GMT.

0750 GMT

- TMB Bank jumped 3.55 percent to 2.04 baht after newspapers reported the company's board was likely to approve Dutch financial services group ING Group's offer to buy a 24.9 stake in the country's fifth-largest bank.

[LaoPo]

Surprised nobody mentioned Brazil (maybe I missed reading it ?).

The Bovespa is up 275% in the last 5 years.

A country to watch

LaoPo

and the currency doubled vs. USD!

Warren Buffett says has been buying Brazilian real

Thu Oct 18, 2007 4:36pm EDT

NEW YORK (Reuters) - Warren Buffett said on Thursday his Berkshire Hathaway Inc (BRKa.N: Quote, Profile, Research) (BRKb.N: Quote, Profile, Research) insurance and investment company has been buying the Brazilian real currency.

Buffett disclosed the stake in an interview on Fox Business Network.

Buffett once had a bet of more than $21 billion against the U.S. dollar amid concern over mounting U.S. trade and current account deficits.

He pared most of that stake. In May, at Berkshire's annual meeting in Omaha, Nebraska, he told shareholders that Berkshire was betting on one currency, and that it would "surprise" them.

from: http://www.reuters.com/article/businessNew...WEN177120071018

LaoPo