Bank of the Philippine Islands to manage Social Security System funds

Bank of the Philippine Islands
BPI AMTC was given two years to manage the biggest amount that SSS awarded to an asset management company this year.

Bank of the Philippine Islands (BPI) has been awarded the management of PhP3 Billion worth of Social Security System (SSS) funds.

SSS awarded BPI Asset Management and Trust Corporation (AMTC) the funds to manage for the government’s social insurance program.

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SSS handles the protection of the country’s private sector workers and their families from the hazards of disability, sickness, old age, and death.

CHECK THIS OUT: BPI is among the country’s best banks – ASEAN

BPI AMTC was given two years to manage the biggest amount that SSS awarded to an asset management company this year.

“We are grateful for the trust given to us by SSS to manage a significant portion of the institution’s funds. This agreement allows us to further contribute to nation-building by helping SSS achieve its investment objectives for the benefit of its members,” said BPI AMTC President Shiela Tan in a report received by Good News Pilipinas.

According to the BPI report, AMTC will invest the funds according to specific objectives set by SSS for target returns and identified asset classes reflecting acceptable risks and potential returns for the funds.

SEE: BPI recognized for prudent risk management

BPI AMTC is the largest stand-alone trust corporation in the country with the following credentials:

1. Best Asset and Fund Manager in the Philippines –
For the 4th consecutive year at the 12th Annual Alpha Southeast Asia Best Financial Institution Awards

2. Best Managed Fund for Dollar Equity Fund for its BPI Global Equity Fund-of-Funds –
From the Chartered Financial Analyst Society of the Philippines

READ: BPI posts income increase in 2019

BPI AMTC reports it currently has Php 591 billion in assets under management. Its 32- unit investment trust funds serve a broad spectrum of investor risk profiles and strategies, and are invested in both local and offshore money market, fixed income, and equity assets.

The BPI and SSS fund management collaboration comes in the wake of the government agency tapping reputable partners in the fund management industry to enhance returns and benchmark performance.

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The Good News Pilipinas Team is a group of Filipino journalists who advocate putting more good news stories about the Philippines and Filipinos on the media.