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June 22, 2024

BPI investment arms beef up assets under management to P1.11T

The investment arms of the Bank of the Philippine Islands (BPI) led by bankero TG Limcaoco continues to beef up their assets under management (AUM), growing it by 5.7 percent to P1.11 trillion last year from P1.05 trillion in 2020.

BPI Investment Management Inc. (BIMI), the country’s largest mutual fund management company, grew its AUM by 19 percent to P230 billion from P194 billion in 2020.

BIMI has teamed up with Dragonpay and Payday allowing those who do not have a BPI account to invest in peso ALFM and Philam Asset Management Inc. (PAMI) mutual funds directly from their bank accounts at any time.

Last December, the ALFM Global Multi-Asset Income Fund and Philippine Stock Index Fund were launched on GInvest, the investment feature of the GCash e-wallet.

This was BIMI’s initial foray into a purely digital platform that allows clients to open an account and invest in the funds for as low as P50.

With its increased presence in both traditional and digital channels, the retail client base of BIMI surged 80 percent to 199,000 unique investors in such a short time.

On the other hand, the AUM of BPI Asset Management and Trust Corp. (BPI AMTC) inched up by 3.3 percent to P882 billion last year from P854 billion in 2020.

BPI AMTC has grown rapidly since 2016, as its number of clients more than doubled and AUM jumped by 56 percent.

Last year, BPI AMTC launched the BPI Invest World Technology Feeder Fund as it continued to offer solutions attuned to client interests and investment opportunities.

The fund invests predominantly in companies in the technology sector such as Apple, Microsoft, Amazon, and Alphabet.

It also introduced BPI Invest Global Health Care Feeder Fund that focuses

on stocks in the healthcare sector such as United Health Group, Pfizer, and AstraZeneca.