Listed Bank of the Philippine Islands (BPI) reported on Friday that its assets under management (AUM) reached the P1-trillion mark as more Filipinos seek out investment opportunities amid the coronavirus disease 2019 (Covid-19) pandemic.
In a statement, the Ayala-led lender said it achieved the milestone by mid-November with a 14-percent year-to-date growth in combined AUM for BPI Asset Management and Trust Corp. (AMTC) with P832 billion and for BPI Investment Management Inc. (BIMI) with P190 billion.
AUM is the total market value of the securities a financial institution manages on behalf of its clients.
BPI Chief Finance Officer Maria Theresa Marcial said the bank was “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 was quoted as saying in the statement. “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.”
BPI AMTC President Sheila Marie Tan affirmed this commitment, saying “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 added.
BPI has a wide range of funds to fit every investor risk profile. These include 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 BPI Invest US Equity Index Feeder Fund, which had the highest AUM growth as of November 2020 year-to-date.