Manulife Thailand signs a deal with KASIKORNBANK to expand its sales channels and target more high net worth clients.

Manulife Asset Management's Thailand business has signed a deal with local bank KASIKORNBANK to expand its sales channels and target more high net worth clients, the firms said in a statement.

On 21 November 2013, both companies signed a deal that will have KASIKORNBANK distribute pooled investment funds managed by Manulife Thailand through its KBank Private Banking service, which services HNW individuals.

"The key factor that led KASIKORNBANK to select Manulife as partner is our global investment footprint, which enables us to offer a range of strategies with the potential to generate attractive risk-adjusted returns," said Tor Indhavivadhana, chief executive of Manulife Asset Management (Thailand).

Manulife is one of the few global asset management companies with operations Thailand that also offers offshore fund management. As at 31 October 2013, KASIKORNBANK is the fourth largest bank in Thailand with a registered capital of THB30.5 billion ($948 million) and market capitalisation of THB419 billion.