Bank of the Philippine Islands (BPI) reached PHP1 trillion in assets under management (AUM) through its consolidated trust and asset management business as more Filipinos seek out investment opportunities amid the COVID-19 pandemic.
BPI exceeded the PHP1-trillion milestone by mid-November this year with a 14% year-to-date growth in combined AUM for BPI Asset Management and Trust Corporation (AMTC) with PHP832 billion and for BPI Investment Management, Inc. (BIMI) with PHP190 billion.
BPI Chief Finance Officer Maria Theresa Marcial says a number of factors contributed to this growth.
“We were able to grow our AUM in the trust and investment management businesses both organically and through new accounts and fund management acquisitions. We are grateful for the trust that the investing public has put in BPI, and in our fund management arms, BPI AMTC and BIMI,” she said.
“In return, our clients have our assurance that we will continue to provide them with excellent financial services that have stood the test of time and trials such as the ongoing pandemic,” she added.
BPI AMTC President Sheila Marie Tan affirms this commitment. “Our continuous focus on superior risk-adjusted returns gave existing clients and new investors confidence in our products. Coupled with tighter client coverage and improved account servicing, we will afford our investors the same level of consistent attention and performance for their investments,” she said.
BPI has a wide range of funds to fit every investor risk profile. The BPI Invest Money Market Fund, BPI Invest US Dollar Short Term Fund, BPI PERA Money Market Fund, BPI PERA Government Bond Fund, BPI Invest Global Equity Fund-of-Funds, and the BPI Invest US Equity Index Feeder Fund had the highest AUM growth as of November 2020 year-to-date.
“Our foreign investment funds have proven particularly popular, as the pandemic highlighted the need for investors to truly diversify their portfolios,” said Tan. “Our funds allow them to enter into high-quality global investments at reasonable and achievable amounts.”
BPI AMTC customers can subscribe to BPI Invest Global Equity Fund-of-Funds for as low as US$500. This fund has been awarded Best Managed Fund of the Year for the Dollar Equity Funds category by the CFA Society Philippines for the fourth straight year since 2017.
Tan says the bank’s online readiness, which enables BPI Online and BPI Mobile app users to subscribe to or redeem investments from the comfort and safety of their homes, also allowed continuity in their investment journey.
“With many customers having to perform most tasks and transactions online due to social distancing requirements and community quarantine restrictions, clients are appreciative of the ability to do self-service transactions on their devices and in their own time,” said Tan.
To help clients understand and navigate the new investment landscape, BPI regularly holds webinars for customers featuring BPI economists as well as local and international external subject-matter experts.
Marcial said BPI’s investment businesses are set to grow further by reaching out to previously underserved and untapped markets through financial inclusion and education campaigns.
BPI AMTC holds free Investment 101 webinars led by its in-house wealth managers that are open to the public. Weekly financial education materials are also posted on its social media pages to reach a wider audience.
“These are in keeping with both BPI’s vision of building a better Philippines and the Bangko Sentral ng Pilipinas’ thrust of greater financial inclusion throughout the country,” said Marcial.
Visit www.bpiassetmanagement.com to learn more. Follow BPI’s Facebook page to receive updates and information about its financial and investment education programs.
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