Seminar Key Takeaways: A New Chapter in Global Investing: Built on Quality, Powered for Growth

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Krungsri Asset Management Company Limited (“the Company”), in collaboration with Wellington Management, recently hosted a seminar titled “A New Chapter in Global Investing: Built on Quality, Powered for Growth” following the transition of the KFGBRAND fund family to Wellington Global Quality Growth Fund as its new master fund, along with its renaming to KF-QUALITY. The seminar provided insights into the global equity market outlook and Wellington Management’s investment approach, which seeks to capture growth opportunities while effectively managing risks, with the potential to deliver stronger returns by capitalizing on future market trends and key investment themes.

Speakers

• Mr. Alistair J. MacDonald, Investment Strategist, Wellington Management
• Ms. Pornchanok Rattanarujikorn, CFA, Vice President, Investment Strategy, Krungsri Asset Management

Outlook from Wellington Management

• Disciplined Stock Selection with Dynamic Portfolio Positioning: Wellington Global Quality Growth Fund’s strategy combines disciplined stock selection, dynamic positioning, and a focus on limiting downside risk. The team assesses companies on quality, revenue growth, valuation upside, and shareholder returns through dividends and buybacks. Detailed fundamental research supports these assessments, while the process seeks to avoid companies facing significant downward revisions to earnings forecasts.
• Adapting Investment Strategies to Economic Cycles: Wellington Management’s proprietary Global Cycle Index helps the team adjust the portfolio as economic conditions change. When growth accelerates, the team typically places greater emphasis on growth prospects and valuation upside. When momentum slows, quality and shareholder returns become more important. This approach helps the team maintain discipline through changing headlines and market sentiment.

 

• Diversifying Across AI and Businesses with Different Growth Drivers: On investment themes, approximately 40% of the portfolio is exposed to AI-related opportunities, including semiconductor suppliers and cloud-service providers. Rising cloud revenues and improving operating margins provide evidence that AI spending is generating commercial returns. The remainder provides diversification across businesses with different earnings drivers. These include the “HALO” theme - heavy assets, low obsolescence, which covers utilities, heavy industry, real estate, and energy. Such businesses own physical assets that are less vulnerable to rapid technological change. Healthcare offers another source of diversification, with attractive valuations in several segments and business drivers that differ from those of technology companies.
• Focusing on Company-Level Opportunities Beyond Regional Allocation: Explaining the regional positioning, the overweight positions in the UK and developed Europe reflect company-level opportunities. The team favours internationally competitive UK businesses at attractive valuations and European banks benefiting from healthier balance sheets and renewed dividends and buybacks.

 

• Corporate governance reforms and improving shareholder returns support opportunities in Asia, while higher US valuations contribute to the fund’s underweight position there. (Source: Wellington Management as of 31 Aug 2026. Benchmark is MSCI All Country World Index)
• A Portfolio Highlight Reflecting Long-Term Growth Potential: As of 31 August 2026, the portfolio held 76 stocks. Welltower was its largest active overweight, with a portfolio weight of 2.3% against 0.2% in the benchmark. The ageing population drives long-term demand for senior housing and care-related real estate, positioning the company as offering technology-like growth with healthcare-like defensive characteristics.

Outlook from Krungsri Asset Management

• The Wellington Global Quality Growth Fund’s strategy offers broader exposure across industries, supported by stronger historical returns with broadly comparable volatility. Thus, the Company expects the transition to improve long-term investment outcomes for Thai investors.
• Discussing the market outlook, the Company pointed to improving corporate earnings expectations as a reason to remain constructive on global equities. The IMF projections also put global growth at 3.1% in 2026 and 3.4% in 2027. Although volatility remains a concern, opportunities remain for managers able to identify companies with sustainable earnings prospects and attractive valuations. (Source: IMF, 13 Oct 2026)

The performance shown is that of the master fund and is not presented in accordance with the mutual fund performance measurement standards prescribed by the Association of Investment Management Companies (AIMC).

KF-QUALITY Fund Family: A Complete Range of Investment Options
Following the transition, Krungsri Asset Management’s KF-QUALITY fund family will continue to offer a full range of investment options, covering both regular mutual funds and tax-saving funds, comprising:

• KF-QUALITY-A and KF-QUALITY-D (Krungsri Global Quality Growth Fund): Accumulation Class (-A) and Dividend Class (-D), formerly KFGBRAND-A and KFGBRAND-D
• KF-QUALITYRMF (Krungsri Global Quality Growth RMF), formerly KFGBRANRMF
• KF-QUALITYSSF (Krungsri Global Quality Growth SSF), formerly KFGBRANSSF

Investors may request a prospectus from Krungsri Asset Management Co., Ltd. at Tel. 02-657-5757, press 2, or contact any branch of Bank of Ayudhya PCL., an authorized selling agent, or sales representative.

Disclaimers:

• SSF is a fund designed to promote savings, while RMF is intended to encourage long-term investment for retirement. Before making an investment decision, investors should understand the product characteristics, return conditions and associated risks, and review the tax benefits outlined in the investment guide. Past performance of a mutual fund is not indicative of future results.
• This document has been prepared using information obtained from sources believed to be reliable as of the dates indicated. However, the Company cannot guarantee the accuracy, reliability or completeness of all information contained herein. The Company reserves the right to change any information without prior notice.
• The Funds are exposed to foreign exchange risk, which may result in foreign exchange gains or losses and/or investors receiving an amount lower than their initial investment.
• Investors should carefully review the tax benefits specified in the investment guide. Unitholders who fail to comply with the applicable investment conditions will not be entitled to the tax benefits and must repay any tax benefits previously received within the prescribed period. Failure to do so may result in additional tax payments and/or penalties under the Revenue Code.

Introduction to KF-QUALITY funds family

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