Good news for Filipino mutual fund investors. Below is an article I’ve copied from Malaya Business Insight, a newspaper circulated in the Philippines dated April 28, 2011 and written by Jimmy Calapati & Jennifer Ambata, which talk about a new services offered by Bank of the Philippine Island Asset Management. It is about their new online Mutual Fund services which website is patterned from BPI Express Online. Please read on,
Dubbed Investment 3.0, the online facility allows clients to maximize the use of the internet to manage their assets, transact and access their investment portfolio.
Aurelio Montinola, BPI president and chief executive, said the company already has a few thousand users but is gearing up for more.
"We’ve got a few thousand. Our target is 500,000 users, but we’re not going to stop there," said Montinola.
As of end-2010, BPI Asset Management has P485 billion assets under management (AUM).
Montinola said the new asset management facility, patterned after BPI Express Online, enables clients to access mutual funds, money market and trust funds, among other investments instruments.
Special deposit accounts, however, are not covered.
Montinola said the project is part of the bank’s commitment to "educate and empower Filipinos on how they could build wealth through investments, thereby converting savers into savvy investors."
New features were added on the original website to give it a fresher look and to make it easier to navigate.
On the website, tabs such as investment research and other investment-related articles are available to both first-time users and more experienced ones.
Also, there are specific tabs for specific clients which mean that only relevant tabs will be visible on the screen depending on the kind of service the client is after.
To gain access to the service, a client should have a BPI account and must enroll in it on the BPI express online database.
The user will have to choose among the array of services and continue with the rest of the steps, all available on the website.
According to Theresa Javier, senior vice-president and chief investment officer, BPI is also planning to further expand online services.
"We have plans to incorporate later on an interactive site which will allow a client to speak with an investment counselor," said Javier. She added that the bank has migrated its investment facility online to take advantage of the pervasive internet technology.
"This frees up more of (our clients’) precious time that could be spent on other important business agenda or with their families," Javier said.
With BPI, clients can invest in mutual funds for as low as P10,000 for its unit investment trust funds (UITFs) and a minimum of P50,000 for its mutual fund products.
BPI has 11 UITFs and seven mutual funds.
Investments can be returned as early as seven days or as late as three years depending on the product availed."
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