Vantage Equities to subscribe to shares of mutual fund subsidiary

Investment holding firm Vantage Equities Inc. said Tuesday it is acquiring shares in subsidiary Philequity Alpha One Fund Inc., in a pre-incorporation investment in the mutual fund.

Vantage Equities is subscribing to 125 million shares of Philequity Alpha at a par value of P1.00, according to a regulatory filing submitted by group comptroller Maribele Bere.

The subscription was approved by Vantage’s board on Monday, October 15.

Vantage Equities said it paid P31.25 million on October 15 for 25 percent of the 125 million shares subscribed.

“Vantage Equities Inc.’s investment in Philequity Alpha One Fund Inc. is part of the company’s investment portfolio diversification,” the company said.

Philequity Alpha will be incorporated as a mutual fund investment company, with the primary purpose of purpose investing and re-investing in as well as selling securities of all kinds, including stocks, bonds, and commercial papers.

Vantage Equities is in the business of investing and holding to use for investment shares of capital stock, bonds, debentures, promissory notes, and other securities issued by any corporation, association and other entities.

Its wholly-owned subsidiaries are e-Business Services Inc., eBiz Financial Services Inc., iCurrencies Inc., Philequity Balanced Fund Inc., Philequity Foreign Currency Fixed Income Fund Inc., and Philequity MSCI Philippines Index Fund Inc. It also owns 51 percent of Philequity Management Inc. —Ted Cordero/VDS, GMA News