BPI Investment Management Inc. (BIMI), a subsidiary of the Bank of the Philippine Islands (BPI), has partnered with GCash to make two of its top mutual funds available in the mobile wallet platform to make investing more convenient for more Filipinos.
The Philippine Stock Index Fund and ALFM Global Multi-Asset Income Fund were made available starting December 6 via GInvest, one of the most popular features of GCash.
BIMI President Martin Enrile said the partnership allows GInvest users to invest for as low as PhP50 for the Philippine Stock Index Fund and PhP1,000 for the ALFM Global Multi-Asset Income Fund.
“This will help bring down some of the barriers that prevent many Filipinos from investing and taking advantage of the markets. Investors will also enjoy great convenience since they don’t have to go through the hassle of physically visiting a branch just to submit documents. Everything is digital,” said Enrile.
With a verified GCash account, investors only need to click GInvest to register and proceed with the KYC (Know Your Customer) process. Once confirmed, clients may now invest in BIMI’s mutual funds.
The Philippine Stock Index Fund is one of the first local stock index tracker funds in the country. It closely mirrors the performance of the Philippine Stock Exchange Index. ALFM Global Multi-Asset Income Fund, on the other hand, is the first dividend-paying feeder mutual fund in the Philippines. It takes a risk-first approach where risks are first identified, planned for, and managed. The fund is also diversified across geographies, sectors, and traditional and complementary asset classes.
“Our goal has always been financial inclusion,” said BPI President and CEO TG Limcaoco. “We see GCash as an important partner and hope to expand this partnership so that more Filipinos can enjoy the financial services that will help as build a better Philippines—one family, one community at a time.”
BIMI ended the third quarter of 2021 with a total of P218.7-billion in assets under management.
BPI reached PHP1 trillion in AUM as Pinoys tapped investment opportunities amid the COVID-19 pandemic.
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Source: Good News Pilipinas
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