The new venture is the first non-finance asset-management firm formed by three former executives in the industry.

They are Chotika Sawananon, former managing director of SCB Asset Management, Chatrapee Tantixalerm, former chief executive officer of Krungsri Asset Management, and Prapas Tonpibulsak, former chief investment officer of Krungsri Asset Management.

Talis Asset Management CEO Chatrapee said of the Bt5 billion, Bt2 billion has been earmarked as coming from private funds and the remainder mutual funds.

Prapas is the company ‘s chief investment officer and Chotika its chairman.

Each of the three executives holds a 25-per-cent stake in the company and the remaining 25 per cent is held by other three people. Of that figure, 5 per cent is held by Thanong Pidaya, a former finance minister.

Talis Asset Management’s paid-up capital is Bt100 million.

Talis Asset Management was approved by the Securities and Exchange Commission in early March.

The company’s private fund related products are now available while those related to mutual funds will be launched in the third quarter, said Chatrapee.

“It’s the right timing for us to open the company now,” said Prapas.

He added that the private fund market was worth Bt600 billion, meaning there were ample business opportunities. “We are targeting only 1 per cent of that,” he said.

Prapas added that under the new normal, in which the economy would grow at a lower level of about 3 per cent a year, the industry’s return-on-investment rate was expected to average around 10 per cent annually, down from 12 per cent. If the company beat the market rate, it would gain the trust of customers, he said.

“We believe in the word-of-mouth strategy and this can boost our number of customers,” he said.

The company is targeting high net-worth customers.

According to data, there are 75,000 individuals in the country with a net worth of between Bt10 million to Bt50 million.

Talis Asset Management has 20 employees.