Mutual Funds and UITF News

Labels: Mutual Funds, News, UITFs on Thursday, March 31, 2011 at March 31, 2011

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NEW BALANCED MUTUAL FUND FROM PHILAM

The fund management unit of the Philam group is rolling out a new mutual fund called PAMI Asia Balanced Fund. The fund will invest in a mix of stocks and bonds across the emerging markets in Asia. Specifically, it will cover investments across China, Australia, Hong Kong, India, Indonesia, Korea, Malaysia, New Zealand, Taiwan, Thailand, Singapore, and Philippines. The news article from the Philippine Daily Inquirer said that the fund's aim is "provide investors with income and long-term capital appreciation through investment in equities, equity-related securities and debt securities of issuers across Asia-Pacific outside Japan."

Gina Goco-Morales, Executive Vice-President at Philam Asset Management, Inc., said that 50% of the fund will be invested in Asian equities while the remaining half will be invested in Asian fixed income instruments. This is why this fund has been categorized as a Balanced Fund. It is suitable for investors who have moderate risk appetite.

If you are looking to diversify or have been planning to tap into the growing Asian markets, this mutual fund would be a suitable alternative. Minimum investment required is $5,000 USD while future additional purchases will be at a minimum of $1,000 USD.

Other mutual funds or UITFs investing in Global markets, that I know of, are the following:

ING Asia Pacific High Dividend Equity Fund (now known as the Odyssey Asia Pacific High Dividend Equity Fund)
BPI GLOBAL EQUITY UITF (Invests in global equity funds from around the world including US, Europe, and Asia Pacific)

BPI ACQUIRES ING INVESTMENT MANAGEMENT PHIILIPPINES.

BPI announced the completion of its acquisition of the trust and investment management business and other related assets in the Philippines of ING Bank N.V. Manila Branch. This is effective March 30, 2011. 38 employees of ING will be absorbed as a separate division under the Asset Management and Trust Group of BPI. As of December 31, 2010, BPI's trust and investment management business is the second largest in the country with PHP 485 billion in total assets under management. ING was sixth with PHP 78 billion in total assets under management. Nothing was said about whether this acquisition would make BPI's trust and investment management business the largest in the country.

In effect, all ING Unit Investment Trust Funds have been renamed to "Odyssey."

ING Investment Management Philippines was awarded The Asset's Best Asset Management Company in the Philippines in 2010. BPI Asset Management on the other hand was awarded Asia Asset Management's Best Funds House in the Philippines in 2010, The Asset's Best Wealth Management House in the Philippines in 2010, Asian Investor's Best Onshore Funds House in the Philippines in 2010, Readers Digest Trusted Brand in Investment Funds for several years including 2010, and The Asset's Best Asset Management Company in the Philippines in 2009.

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