SCB Asset Management (SCBAM) aims to reach 2.5 trillion baht in assets by 2029, targeting average annual growth above 100 billion baht and a doubling of its customer base after reported bond fund outflows.
SCBAM Chief Executive Narongsak Plodmechai set the target for 2027-2029 at a media briefing on Oct. 28, 2026, eFinance Thai and InfoQuest reported. The outlets said the company expects average annual asset growth above 100 billion baht.
Than Settakij and eFinance Thai reported that SCBAM had assets under management of 2.064252 trillion baht as of Sept. 30, 2026, about 17.4% below the 2029 goal. Mutual funds accounted for 1.162229 trillion baht, private funds for 700.296 billion baht and provident funds for 201.727 billion baht. SCBAM’s history page listed net assets under management of 2.060211 trillion baht as of Aug. 31, 2026.
The target follows reports of 30 billion to 40 billion baht in bond fund outflows, which InfoQuest and eFinance Thai linked to interest-rate volatility. The reports differed on whether the outflows came from medium-term funds alone or from medium- and long-term funds. SCBAM plans to reduce its reliance on medium-term bond funds and expand short-term bond and equity index products. Narongsak told the Bangkok Post the shift was intended “to create a more balanced product mix.”
SCBAM also wants to reach more Siam Commercial Bank depositors. The Bangkok Post reported that slightly more than 10% of the bank’s depositors hold SCBAM fund accounts, and that the manager aims to raise the share to 50% within three years.
Siam Commercial Bank’s 2025 annual report said SCBAM had 1.98 trillion baht in assets at the end of that year and was Thailand’s largest asset manager. The figure included mutual funds for resolving financial institution problems. InfoQuest and eFinance Thai reported that SCBAM fell to second place behind Kasikorn Asset Management in 2026. They reported that SCBAM aims to regain the top spot in 2027.
