BANK of the Philippine Islands (BPI) is preparing to unveil a new mutual fund that will offer cumulative rewards as an investor tops up his investments to a certain amount.
The lender’s wealth management arm late last week said it has filed the documentation with the Securities and Exchange Commission (SEC) and is awaiting approval for the open-end mutual fund dubbed BPI Wealth Building.
The fund will be invested in all available investment opportunities both locally and overseas, according to Lea Maranan, BPI Wealth head of experience management.
Irene Ang, BPI Asset Management and Trust Corp. head of personal wealth, said investors to the fund can invest a minimum of P1,000, making it accessible to many.
BPI Wealth Building will also allow automated monthly top-ups and withdrawal at a minimum increment of P100.
“This feature can provide steady cash flows during retirement, while the rest of your money stays invested for continued growth,” she said.
“Future investors of BPI Wealth Builder can receive community rewards such as health, medical and protection benefits at no additional cost, making BPI wealth builder not only about growing money, but also about attaining their total financial wellness.
The fund targets millennials and Gen X, offering monthly dividends and automated regular payouts.
As of September, BPI Wealth’s asset under management amounted to P1.4 trillion.
BPI Wealth is holding a number of activities on financial literacy. October is BPI Wealth Wellness Month.
“October is recognized as National Financial Planning Month in the United States, making it an ideal time for the Philippines to embrace a similar focus on financial literacy. With the BPI Wealth Wellness Month, we seek to address this critical need by providing essential resources and targeted programs that encourages Filipinos reassess their situations and take decisive actions as the holiday season and the new year approach,” said Maria Theresa Marcial, BPI Wealth chief executive officer.
