Investors’ Confidence in Bluebell as a True Investment Expert Soars, with Continuous Growth in Debenture and Mutual Fund Revenue Reflecting Success.
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Bluebell would like to thank all of our leading investors for their confidence and trust, which has led to our success in 2024.
Ms. Narissara Chaiwattana, Chief Executive Officer, revealed that the company expects to achieve a total revenue of 250 million baht in 2024. This income is generated from the company’s role as an intermediary for distributing quality debentures, mutual funds, and other financial products.
Bluebell has risen to the 5th position among securities firms with the highest debenture sales, according to data from the Thai Bond Market Association. The company is likely to maintain this ranking until the end of the year, with debenture sales projected to reach 13,500 million baht against a target of 15,000 million baht.
Furthermore, the company’s Assets Under Administration (AUA) for mutual funds has grown by 32% from the beginning of the year through the end of October. This figure is expected to increase to 50% by the end of the year.
The Secret to Success: Curating Quality Products and Expert Investment Advice
Bluebell’s success is a result of carefully selecting high-quality financial products, providing excellent investment advice, and expanding its network of highly experienced investment advisors. Additionally, the company is strengthened by its investment banking business, which serves a wide range of clients, allowing Bluebell to comprehensively meet investor needs.
📍Consistently Growing Revenue Underscores the Bluebell Team’s Strong Capabilities
Bluebell has demonstrated revenue growth since beginning operations in July 2022 with revenue of 68.18 million baht, which increased to 133.29 million baht in 2023, before continuing to grow to 216.43 million baht by October 2024. This revenue was generated from several sources: debenture distribution at 103.44 million baht, profit from secondary market transactions at 24.28 million baht, mutual fund revenue at 55.71 million baht, filing services at 13.82 million baht, debenture holder representative services at 10.19 million baht, investment banking services at 5.49 million baht, and other sources at 3.50 million baht. Total revenue is forecasted to be 250 million baht for the full year 2024, which represents a growth rate of 95.48% in 2023 and 77.80% in 2024.
Thailand’s Debenture Market Remains an Attractive Investment in 2025 Due to the Bank of Thailand’s Easing Monetary Policy
Ms. Narissara stated that the Thai bond market will likely be vibrant and attract continuous investor interest in 2025. This follows the Bank of Thailand’s interest rate cut to 2.25% last October and an expected further cut to 2.00% in the first quarter of 2025.
This trend of falling interest rates will lead to increased demand for debentures. Investors will want to lock in yields while rates are still high, before they drop further. This makes long-term, high-quality debentures more attractive and likely to gain greater investor interest.
In contrast, the stance of the Monetary Policy Committee (MPC) is less “dovish” (prone to cutting interest rates) than other major central banks. As a result, foreign capital has started flowing more into the Thai bond market since the second half of 2024 and is expected to continue flowing in 2025. This will make the Thai debenture market even more active.
The recommended debenture investment strategy is to increase the duration of your fixed-income portfolio by choosing to invest in 3-5 year debentures. This allows investors to lock in long-term yields and benefit from the central bank’s policy rate, which is expected to decrease. When interest rates fall, bond prices tend to rise, providing investors the opportunity to sell for a profit in the future. We recommend investing in Investment Grade or high-quality Non-Rated debentures with long maturities, whether through the primary or secondary market.
Bluebell offers debenture services in both the primary and secondary markets, supported by a team of expert debenture analysts. They provide in-depth and useful advice to help investors make confident investment decisions.
Investing in U.S. and Asian equity funds is expected to yield strong returns in 2025, driven by supportive macroeconomic factors. It is recommended that investors allocate their portfolios according to their acceptable risk level.
Ms. Narissara stated that a key supporting factor for investing in mutual funds—whether equity, fixed-income, or other assets—is the trend of interest rate cuts by major central banks around the world, such as the Fed and the ECB. These cuts will help reduce financial costs for listed companies, supporting a positive trend in corporate profits and leading to a stable economic recovery.
One of the key highlights is the U.S. stock market, which has the potential for continued growth in 2025. This is driven by robust corporate earnings growth and a strong AI trend, even as the economy is expected to experience a slight slowdown in growth.
Despite pressure in the labor market, the slowdown is not expected to have a significant negative impact on the economy. The Fed’s decision to cut interest rates by 0.75% in its September and November meetings was an appropriate move to promote economic and labor growth. Furthermore, the Republican Party’s victory in the election signals more accommodative fiscal policies, which are poised to support U.S. economic growth in the next phase.
Many Asian economies still have strong fundamentals and are worth watching, including India, South Korea, and Vietnam. China, in particular, is likely to see its economy begin to recover, despite facing pressure from U.S. import tariffs. This is due to the monetary and fiscal stimulus measures implemented by the Chinese central bank and government to restore economic confidence. These factors combine to give the Asian stock market a positive outlook for 2025.
However, structuring a mutual fund portfolio and diversifying across various assets remains essential. We recommend that investors allocate their portfolios by investing in a suitable proportion of both equity funds and fixed-income funds based on their acceptable risk level.
📍From 2024’s Success to 2025’s Challenges: A Focus on Building Resilience and Expanding Capabilities
Ms. Narissara stated that the success achieved in 2024 demonstrates the company’s competitive ability and outstanding growth, even in a challenging market. Bluebell has proven its strength through the “Make It Great” concept, which is dedicated to creating the best investment experience for clients by leveraging experience, knowledge, analysis, and sincere attention to detail, all for the purpose of achieving excellent results.
Looking ahead to 2025, Bluebell has set key goals to expand its team, focus on enhancing the knowledge and capabilities of its investment and independent financial advisor teams, and increase the diversity of its financial products. This will enable the company to provide information and services that effectively meet client needs, strengthen its competitive position, expand its business base, and build a stronger presence in the financial industry. This philosophy drives the team to face challenges and achieve even greater success, aiming to make Bluebell the number one choice for investors.
