GCash partners with BPI for new investment fund offerings

Mobile e-wallet service GCash has partnered with the Bank of the Philippine Islands (BPI) to offer clients with two fresh investment funds with an aggressive risk appetite for as low as P50.

In a statement, GCash said users can now invest in BPI Investment Management Inc.’s ALFM Global Multi-Asset Income Fund, and the Philippine Stock Index Fund under GInvest.

GInvest users can start investing in the ALFM Global Multi-Asset Income Fund— a dollar-denominated feeder fund whose target fund is managed by BlackRock —with as low as P1,000.

The feeder fund invests at least 90% of its assets into a single collective scheme, with investments including equities and equity-related securities to guarantee dividends.

Users can also invest in the Philippine Stock Index Fund—which tracks the performance of the local stock barometer—with a buy order for as low as P50.

The latest funds bring GInvest’s fund offerings to seven, along with the Money Market Fund, the Philippine Total Return Bond Fund, the Philippine Smart Equity Index Fund, the Global Technology Feeder Fund, and the Global Consumer Trends Fund.

GCash is operated by Globe Fintech Innovations Inc., as part of the portfolio of 917Ventures, the corporate incubator of Globe Telecom Inc.

The firm in August said it was looking to offer cryptocurrency trading services on its platform soon, with the firm now in the process of identifying a partner.

Shares in Globe Telecom Inc. closed Monday up P34.00 or 1.01% to P3,400 apiece. — BM, GMA News