Securities Private Fund Management team is committed to delivering
consistent and superior returns through a transparent and disciplined
investment process. Our investment decisions are based on extensive
fundamental research using a balanced combination of top-down
and bottom-up approaches.
Private fund management helps individuals and institutional investors
manage and grow their assets more effectively in accordance with
their risk-return profiles. Asset-management solutions are arrived
at to suit each client’ s unique circumstances with regard to:
Investment strategies are designed to be flexible and can be adjusted
to suit changes in each client's situation and requirements. Unlike
money invested in mutual funds, your investment will not be bundled
with other people's money but remains in a separate custodian account
at a trustworthy commercial bank.
- Liquidity needs
- Time horizons
- Tax situation
- Investment restrictions
Depending on specific risk profiles, expected returns, liquidity
needs and investment time horizons, our Portfolio Fund Managers have
a variety of portfolio types to suit your requirements. Our product
- Equity Funds (B-Growth): For investors with moderate
to high risk appetite and long investment horizons that want
to participate in the Thai equity market.
- Fixed-income Funds (B-Bond): Suitable for conservative
investors who require principal preservation but at the same
time seek returns higher than term-deposit rates at commercial
- Flexible Funds (B-Plus, B-Spot): For investors that want
to see asset grow at a rate significantly higher than fixed-deposit
rates. The funds will invest in both equity and fixed income
instruments. Allocation of asset between these two asset classes
is subject to fund managers’ decision.
Source : AMC
* Issues considered to have material
impact on shareholder value: - Financial position, corporate performance,
dividend payments - Transactions that involve the acquisition and/or
the disposal of important/material assets. These include the purchase
and sales of business lines, mergers and acquisitions, corporate takeovers.
- Appointment or removal of the company's directors - Changes in the
company's capital structure, e.g. capital raising/reduction, debt
restructuring, issuance of debentures, private placement, and public
offering - Special compensation for the company's management/directors,
and share offering to management, directors and staff. - Transactions
that might raise the issue of conflict of interest
- Private Client Investment Management (PCIM) has assumed the
responsibility of proxy voting on behalf of clients who have properly
delegated such responsibility to PCIM.
- PCIM has the duty to proxy vote for proposals considered to
have significant impact on shareholder value.*
PCIM will perform these functions in accordance with the proxy
voting guidelines established and approved by BLS’s Investment
Committee** to ensure that all voting
decisions reflect a thorough analysis of the issues and fairly
assess their potential impact on shareholder value. When PCIM
votes against the management’s proposals, the underlying reasons
will be given in writing and kept for the record.
- In cases whereby proxy voting may raise the issue of conflict
of interest, PCIM will state the reasons behind all decisions
made whether they are for or against the management’s proposals.
- PCIM can delegate its proxy voting responsibility to parties
it deems appropriate.
** Investment Committee consists of
the President, Management Director, Head of PCIM Group, Marketing
Director of PCIM Group, and Fund Managers.
PCIM will maintain records of all proxies' votes for a period of 5 years from the voting date.
- PCIM will proxy vote for the management’s proposals when appropriate
or may decide to abstain on issues or agendas that it believes
have no material effects on the value of the company.
- PCIM will generally vote for management proposals on issues
1) Annual election of directors
2) Appointment of auditors
3) Annual operation performance
4) Proposal to change the company’s capital structure to gain access
to capital markets or to strengthen its capital structure
- PCIM generally will vote against management proposals on issues
1) Limiting shareholders’ rights
2) Creating unequal voting rights
3) Introducing measures designed to discourage potentials for the
company to be merged or acquired
4) Allowing directors to amend the company’s rules and regulations
without first seeking approval from shareholders
5) Proposals authorizing the company’s management or board of directors
to buy back shares at prices premium to the then market price without
first seeking approval from shareholders
6) Management compensation plans that generously reward management
in excess of its relevant performance, e.g. stock option plans with
an exercise price set below the then market price
7) Incentive plans that become effective in the event of hostile
takeovers or mergers (golden parachute)
8) Increase in stock issuance for management which PCIM believes
to be too dilutive to shareholders or too generous to management
in relation to their performance
For private funds, PCIM will distribute a summary of all proxy votes
twice a year. The first report of the year, which shows the record
of proxy voting from the month of July to December of the previous
calendar year, will be distributed in January. The second report,
which shows the record of proxy voting from the month of January to
June of the same calendar year, will be distributed in July.
For provident funds, a summary of proxy voting will be presented
in the funds’ annual report of the same period.
To ensure that appropriate Proxy Voting Policy and Procedures
are adopted, PCIM' s proxy voting practices shall be monitored and
audited by the Compliance & Internal Audit team. The audit results
will be reported directly to the Company's Board of Directors on
an annual basis.
Please Click here
for view Summary of proxy voting results (2005)
here for view Summary of proxy voting results (2006)
Click here for view Summary of proxy voting results (2007)
Click here for view Summary of proxy voting results (2008)
Click here for view Summary of proxy voting results (2009)
Click here for view Summary of proxy voting results (2010)
Click here for view Summary of proxy voting results (2011)
Click here for view Summary of proxy voting results (2012)
Summary of proxy voting 1H 2012
Summary of proxy voting 1H 2013