Thai firm leads US dollar funds surge

UOB Asset Management (Thailand) has solidified its position as the dominant player in the country’s USD fund market. The firm achieved this status by rapidly expanding its shelf of USD-denominated products to meet rising demand for currency diversification and global market access among Thai investors. This strategy focused on providing solutions that combine quality, yield, and liquidity across various asset classes.

The firm launched its USD funds in March 2025 with an initial assets under management (AUM) of $23.77 million. Growth was immediate and substantial. By July 2025, UOBAMTH had become the market leader with AUM reaching $251 million. The firm continued to demonstrate enduring leadership throughout the year expanding AUM to $418 million by December 2025 and capturing a dominant 53 percent market share.

This momentum has carried into 2026. As of April, the firm reinforced its dominance as USD AUM reached $436 million and market share expanded to approximately 72 percent. The data reflects a disciplined execution of a product strategy designed to serve both retail and institutional clients.

Targeting Foreign Currency Deposits

Investors are increasingly seeking returns that exceed standard Foreign Currency Deposit (FCD) rates. UOBAMTH identified a significant opportunity within the sizable pool of USD held in clients’ FCD accounts. In response, the firm developed tailored investment products to better meet client needs and offer greater flexibility in portfolio construction.

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This trajectory suggests that Thai investors are moving beyond simple currency holding into active asset allocation. If the current momentum holds, the gap between the leading provider and competitors could widen further, pressuring other asset managers to accelerate their own USD product roadmaps to maintain relevance in a shifting market.

Rachada Tangharat, Deputy Chief Executive Officer of UOB Asset Management (Thailand), noted that the firm prioritizes innovation and global connectivity. The expansion aims to help the company preserve and grow AUM by offering a diversified portfolio of USD-denominated funds. The approach addresses the increasing appetite for international exposure.

Product Suite Evolution

UOBAMTH built its full suite of funds in stages. The firm pioneered USD Term Funds with short tenors of three and six months. These products offered a simple solution for investors seeking attractive USD returns, allowing clients to build familiarity before progressing to more sophisticated options.

Following the success of the term funds, the firm introduced the United USD Daily Fund (USDAILY). As Thailand’s first USD-denominated daily fixed income fund, USDAILY provides a flexible and highly liquid solution with daily subscriptions and redemptions. It also serves to enhance portfolio diversification.

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UOBAMTH then broadened its offering into global fixed income with the launch of the United USD Global Income Strategic Bond Fund (UGIS-USD) and the United USD Ready Fund (USDREADY). UGIS-USD invests in global fixed income instruments to generate returns in US dollars, while USDREADY focuses on short-duration USD-denominated assets to match money market performance.

Entry into Equities and Tech

The firm extended its capabilities into global equities with two specific funds. The United USD Global Dividend Plus Fund (UGDIVP-USD) invests in equities worldwide, including emerging markets, and uses a covered call strategy to generate additional income. The United USD Global Founders and Owners Fund (UGFO-USD) focuses on companies led by founder-management teams with significant ownership stakes.

In the technology sector, UOBAMTH launched the United USD Global Technology Fund (UGTECH-USD) and the United USD US Technology Equity Fund (UUSTECH-USD). UGTECH-USD targets a diversified portfolio of global technology equities, whereas UUSTECH focuses specifically on US-based technology companies.

UOBAMTH states that on the back of the strong success of its USD fund launches and growing investor confidence, it has firmly established itself as the number one USD fund provider in Thailand. The firm remains committed to identifying new investment opportunities and accelerating the launch of innovative solutions to meet the evolving needs of investors.