Seminar Key Takeaways: Asia Tech Engine: Powering the Next Growth Wave

Krungsri Asset Management Co., Ltd., together with Wellington Management, hosted the seminar “Asia Tech Engine: Powering the Next Growth Wave” to highlight Asia’s growing role as a key driver of the global AI revolution. As the primary hub for semiconductor infrastructure and hardware production, Asia is well-positioned to benefit from the increasing demand for advanced computing.
Recognizing this investment opportunity, Krungsri Asset Management has launched the Krungsri Asia Tech Equity Fund (KF-ATECH), which invests in the Wellington Asia Technology Fund, providing Thai investors access to leading Asian technology companies with strong long-term growth potential.

Outlook on the Growth of Asian Technology
By Mr. Kiattisak Preecha-anusorn, Chief Alternative Investment Officer, Krungsri Asset Management

• Key drivers behind the growth of Asian technology include megatrends such as AI, Automation, and Digitization. The rise of AI is creating a “Software Disruption,” driving Hyperscalers to accelerate investments in AI infrastructure and increasing demand for semiconductors and specialized materials produced in Asia.

• Asian technology stocks have shown strong growth momentum, outperforming both global technology stocks and U.S. technology stocks since September last year. Despite pressures in several regions, the Asian technology index continued to rise, supported by EPS growth of 40% last year and 90% year-to-date. Demand for AI infrastructure, including memory chips, foundries, GPU/ASIC design, and advanced packaging, continues to outpace supply capacity, supporting further growth potential for Asian technology companies. 
  

•  Despite recent gains, Asian technology valuations remain attractive, trading at only 13x P/E, significantly below U.S. technology stocks. This valuation gap is becoming a key factor driving capital rotation from the U.S. to Asia, as investors increasingly recognize Asia’s superior long-term growth potential. 
  

Master Fund Strategy to Capture Growth Opportunities
By Mr. Alistair J. MacDonald, Investment Strategist, Wellington Management

• Asia is no longer just the world’s manufacturing base, but is becoming a critical pillar of the global technology ecosystem, particularly in semiconductors and specialized materials, which are essential to modern innovation. The expansion of AI servers and data centers worldwide continues to support long-term growth across the Asian technology sector.

•  Over the past five years, the Wellington Asia Technology Fund has delivered annual alpha of more than 10%, driven by a disciplined investment strategy focused on companies with strong revenue growth, pricing power, high profitability, and attractive shareholder returns. The fund also prioritizes founder-led companies to capture long-term vision and sustainable growth.
   

•  The fund also maintains a disciplined risk management approach by avoiding sectors that are not yet profitable, such as humanoid robotics, as well as industries with intense competition or policy restrictions, including parts of China’s semiconductor sector.

•  The portfolio currently focuses on four key markets: Japan, Taiwan, South Korea, and China, with the highest allocation to Japan. Government support through a 1.23 trillion yen AI and semiconductor stimulus package, together with Japan’s strength in upstream semiconductor materials, positions the country to benefit significantly from the growth of Industrial AI.

•  Although Chinese technology stocks have not yet fully recovered, the fund continues to maintain an allocation of around 20%, reflecting attractive valuation opportunities and confidence that current prices do not yet fully reflect future growth potential. Supported by government policies, Chinese technology companies remain well-positioned to benefit from the long-term growth of global AI adoption.

• The portfolio provides exposure across the entire technology supply chain. Approximately 50% is invested in large-cap companies such as Tencent, Alibaba, and TSMC, while the remaining 50% focuses on high-growth mid- and small-cap companies, including Tokyo Electron, Keyence, ASPEED Technology, and SK Hynix. This strategy allows investors to access both global technology leaders and specialized innovators with strong future growth potential.
  

While the fund focuses on the technology sector, which may experience higher volatility than the broader market, it also offers the potential for superior long-term returns. The master fund maintains a disciplined risk management framework. Therefore, investors are recommended to adopt a DCA investment strategy to gradually accumulate investments and capture opportunities from the long-term growth of AI and technology.

The IPO of KF-ATECH will be offered from 11–20 May 2026, providing investors with another opportunity to increase exposure to future growth themes and participate in the next wave of Asian technology expansion.

KF-ATECH | KF-ATECH-USD
Two fund options designed to match different investment goals and preferred currencies.

1.  KF-ATECH Suitable for investors who prefer investing in Thai Baht and are able to accept exchange rate hedging-related volatility and potential costs | Minimum investment: THB 500

2. KF-ATECH-USD* Suitable for investors with USD savings or expenses who seek currency diversification and returns closer to direct investment in the master fund | Minimum investment: USD 50

*Units can be subscribed via transfers or deductions from Foreign Currency Deposit (FCD) accounts as follows:
1) FCD accounts with Kiatnakin Phatra Bank for investors who open accounts directly with Krungsri Asset Management, Kiatnakin Phatra Securities, and/or other designated selling agents.
2) FCD accounts with UOB Bank (for investors who open fund accounts with UOB only). For opening an FCD account, please contact any UOB Bank branch.
►For FCD account opening procedures, please click here

Investment Policy of KF-ATECH | KF-ATECH-USD
The funds invest on average at least 80% of NAV in Wellington Asia Technology Fund, Class USD S Accumulating Unhedged. The master fund focuses on equities of companies operating in the technology sector or related industries across Asia.
Risk Level: 6 – High Risk
The funds may hedge foreign exchange risk at the discretion of the fund manager.

Disclaimer; This document is prepared based on sources deemed reliable as of the stated date. However, the Company does not guarantee the accuracy, reliability, or completeness of the information and reserves the right to make changes without prior notice.
KF-ATECH / KF-ATECH-USD are exposed to foreign exchange risk, which may result in gains or losses, and investors may receive returns lower than their initial investment.
Investors should understand fund features, conditions of returns, and risks before making an investment decision. Past performance is not indicative of future results.