BPI investment arm starts operating as separate trust entity

BPI Asset Management and Trust Corp., the investment arm of Ayala-led Bank of the Philippines Islands, has started operating as a separate trust corporation.

"BPI Asset Management and Trust Corp. (BPI AMTC) formally commenced its operations as a stand-alone trust corporation, as Bangko Sentral ng Pilipinas recently presented the Certificate of Authority to the BPI AMTC Board of Directors and Officers," it said in an emailed statement Monday.

BPI AMTC got the license to operate as a stand-alone trust corporation on December 29, 2016. It has over P566 billion worth of assets under management.

There are no changes in existing contracts, investment management and operating teams, BPI AMTC President Mario Miranda said.

Under the BSP charter, a trust corporation is an entity primarily created and authorized to engage in trust, other fiduciary business and investment management activities.

The mandate is to have a minimum initial capital of P100 million, and raised to P300 million after a five-year transition period. — Jon Viktor Cabuenas/VDS, GMA News