AyG
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Post by AyG on Sept 1, 2022 8:19:04 GMT 7
Eastspring (a subsidiary of the UK's Prudential plc) is an investment manager which focuses upon Asia. A couple of years or so ago it snapped up TMB Asset Management. I've never seen any of their products that have attracted me. I was therefore interested in a recent analyst piece from Morningstar about one of their Asian Bond fund.
Unusually damning for Morningstar.
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Post by Fletchsmile on Sept 1, 2022 17:03:19 GMT 7
Unusually damning but accurate
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AyG
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Post by AyG on Sept 1, 2022 19:18:45 GMT 7
Not seen you here for a while, Fletchsmile. What you are your current thoughts about what was TMBAM Property Infrastructure Plus?
I sold out of it a few years ago and invested in what is now KKP Property Sector - Dividend. Almost certainly one of my worst investment decisions. I'm really p**sed off that KKP changed the way they invested, and went on to invest roughly 20% of the fund in a US ETF.
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Moobin
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Post by Moobin on Sept 1, 2022 20:31:34 GMT 7
Not seen you here for a while, Fletchsmile. What you are your current thoughts about what was TMBAM Property Infrastructure Plus? I sold out of it a few years ago and invested in what is now KKP Property Sector - Dividend. Almost certainly one of my worst investment decisions. I'm really p**sed off that KKP changed the way they invested, and went on to invest roughly 20% of the fund in a US ETF. I bought in just before covid hit and am sitting on it now. I'm down nearly 20%, but I think it has stabilized now and we may see an upturn in the next 12 months or so as we move on from covid and the property sector picks up.
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Post by Fletchsmile on Sept 2, 2022 16:46:55 GMT 7
I still hold TMBPIPF. The sector is having a rough time and will continue to do so, but it's a long term holding for me as we still need some Thai financial assets.
Over the last few years, I've been gradually reducing stuff held in Thailand. As the kids are getting older, more and more of their school fees have already been paid, and there are fewer years remaining. So my THB expenditure will go down in coming years.
As a trend I've been increasing assets held outside Thailand, as: 1) there are often better investments outside 2) less future need for THB as school fees will stop in a few years 3) increased need for GBP and global assets as university fees will go up
Glad to see everyone is still ticking along
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Post by rgs2001uk on Sept 5, 2022 20:59:32 GMT 7
I still hold TMBPIPF. The sector is having a rough time and will continue to do so, but it's a long term holding for me as we still need some Thai financial assets.
Over the last few years, I've been gradually reducing stuff held in Thailand. As the kids are getting older, more and more of their school fees have already been paid, and there are fewer years remaining. So my THB expenditure will go down in coming years.
As a trend I've been increasing assets held outside Thailand, as: 1) there are often better investments outside 2) less future need for THB as school fees will stop in a few years 3) increased need for GBP and global assets as university fees will go up
Glad to see everyone is still ticking along I came to that conclusion about 5 years ago. Noticed a sign in a Krungthai bank window today offering 1.45% tax free for deposits of 1 year, I asked myself do I really need the hassle of opening an account, bureacracy gone mad, a jobsworths paperwork wet dream, I dont need the aggrivation or headache, have about 5 million baht sat in various KrungSri bank accounts earning peanuts and thats where it can stay.
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AyG
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Post by AyG on Sept 5, 2022 21:12:06 GMT 7
I've just rolled over the 800K baht that Immigration requires (for reasons that are totally unclear to me) that I maintain as a balance. (It's not like I can use it in an emergency without losing my immigration status.)
Anyway, 4 year fixed deposit, 0.75% p.a.. Pathetic. Nowhere near keeps up with inflation.
I really hate the way the Thai authorities think they know better than I how to handle my money.
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GavinK
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Post by GavinK on Sept 17, 2022 7:44:21 GMT 7
2) less future need for THB as school fees will stop in a few years 3) increased need for GBP and global assets as university fees will go up +1 ...and the question of whether to return to the UK for those pre-university years so that your kids qualify as home students (overseas student fees tend to increase more than the state controlled home student fees)
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Post by rgs2001uk on Sept 17, 2022 22:02:03 GMT 7
2) less future need for THB as school fees will stop in a few years 3) increased need for GBP and global assets as university fees will go up +1 ...and the question of whether to return to the UK for those pre-university years so that your kids qualify as home students (overseas student fees tend to increase more than the state controlled home student fees) Boarding school is an option although you would need to do the maths.
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Post by Fletchsmile on Sept 20, 2022 16:42:04 GMT 7
2) less future need for THB as school fees will stop in a few years 3) increased need for GBP and global assets as university fees will go up +1 ...and the question of whether to return to the UK for those pre-university years so that your kids qualify as home students (overseas student fees tend to increase more than the state controlled home student fees) For eldest daughter, she has less than 2 years to go now. So she won't make it for the rule of being in UK 3 years before Difficult to move the younger one without the older, so we're sort of locked in/out now.
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me
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Post by me on Sept 20, 2022 23:09:36 GMT 7
+1 ...and the question of whether to return to the UK for those pre-university years so that your kids qualify as home students (overseas student fees tend to increase more than the state controlled home student fees) For eldest daughter, she has less than 2 years to go now. So she won't make it for the rule of being in UK 3 years before Difficult to move the younger one without the older, so we're sort of locked in/out now. except for the language the education may be better here anyway,
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rubl
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Post by rubl on Sept 22, 2022 9:53:03 GMT 7
I've just rolled over the 800K baht that Immigration requires (for reasons that are totally unclear to me) that I maintain as a balance. (It's not like I can use it in an emergency without losing my immigration status.) Anyway, 4 year fixed deposit, 0.75% p.a.. Pathetic. Nowhere near keeps up with inflation. I really hate the way the Thai authorities think they know better than I how to handle my money. In about two years I'll switch from non-B to non-O visa, that is I'll finally retire. To avoid much hassle and to prepare for possible future 'adjustments' by the government I plan to have one million Baht in an account. Income from state and private pension might be enough but possibly involves more paperwork. Question now is what type of 'account' would you recommend?
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Moobin
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Post by Moobin on Sept 22, 2022 11:34:24 GMT 7
I've just rolled over the 800K baht that Immigration requires (for reasons that are totally unclear to me) that I maintain as a balance. (It's not like I can use it in an emergency without losing my immigration status.) Anyway, 4 year fixed deposit, 0.75% p.a.. Pathetic. Nowhere near keeps up with inflation. I really hate the way the Thai authorities think they know better than I how to handle my money. In about two years I'll switch from non-B to non-O visa, that is I'll finally retire. To avoid much hassle and to prepare for possible future 'adjustments' by the government I plan to have one million Baht in an account. Income from state and private pension might be enough but possibly involves more paperwork. Question now is what type of 'account' would you recommend? I have heard from others that it is pretty much limited to a standard savings account. The interest is terrible but I heard that fixed deposit accounts with slightly better interest were not acccepted by Chaengwattana. They required that the applicant be able to withdraw from their account at any time. The reasoning being that the funds you are holding are for you to live on over the year so you need to be able to access them at any time (this is ignoring the fact that the minimum amount must remain untouched in your account for two months (or is it three now?) before filing for extension). I don't think things will have changed much but recommend getting up to date information from your local Immigration Office (that is if they even know). I am just so happy to have put all that behind me.
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AyG
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Post by AyG on Sept 22, 2022 11:45:26 GMT 7
I would suggest going for a fixed term deposit with as long a term as possible. This will limit the number of rollovers you have to worry about. Not all banks do 48 month deposits, so your choice may be limited. Krung Sri's website doesn't advertise that it does deposits of this length, but they are available if you ask in branch. Note, however, that this doesn't give you much flexibility. It's really a "deposit 800k for four years" and don't worry when better interest rates become available. You also can't sensibly take the balance down to 400k for the months when that's all that's required.
Alternatively, look for a product such as Krung Sri's Mee Tae Dai. (Other banks have similar offerings.) The interest rates are usually pretty good, though they do go up and down, and you have the flexibility to withdraw the 400k for months when you don't need it. Another plus of this approach is you don't need to handle rollovers.
Note that with rollovers you'll probably need to be in country to reinvest on the same day the deposit matures. You can set the deposit up so that on maturity your cash either is transferred to your savings account, or is automatically rolled over to a 3 month certificate of deposit (with a very poor interest rate). However, I don't trust Thai banks to handle things like this. (I was told that my three year fixed deposit would be automatically rolled over to another three year fixed deposit. Thankfully I was skeptical and checked this just before maturity. The assertion was wrong.)
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Moobin
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Post by Moobin on Sept 22, 2022 11:49:27 GMT 7
I would suggest going for a fixed term deposit with as long a term as possible. This will limit the number of rollovers you have to worry about. Not all banks do 48 month deposits, so your choice may be limited. Krung Sri's website doesn't advertise that it does deposits of this length, but they are available if you ask in branch. Note, however, that this doesn't give you much flexibility. It's really a "deposit 800k for four years" and don't worry when better interest rates become available. You also can't sensibly take the balance down to 400k for the months when that's all that's required. Alternatively, look for a product such as Krung Sri's Mee Tae Dai. (Other banks have similar offerings.) The interest rates are usually pretty good, though they do go up and down, and you have the flexibility to withdraw the 400k for months when you don't need it. Another plus of this approach is you don't need to handle rollovers. Note that with rollovers you'll probably need to be in country to reinvest on the same day the deposit matures. You can set the deposit up so that on maturity your cash either is transferred to your savings account, or is automatically rolled over to a 3 month certificate of deposit (with a very poor interest rate). However, I don't trust Thai banks to handle things like this. (I was told that my three year fixed deposit would be automatically rolled over to another three year fixed deposit. Thankfully I was skeptical and checked this just before maturity. The assertion was wrong.) Does your local Immigration Office allow that for visa extension?
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