BPI launches Peso Class Funds

The Bank of the Philippine Islands (BPI), through its wealth management unit, launched its Peso Class Funds on Thursday, allowing local investors to invest in world technology and global equity funds for as low as P1,000.

Under the BPI Wealth Peso Class Funds, investors gain access to two initial global funds — the BPI World Tech Feeder Fund, and the BPI Global Equity Fund-of-Funds, with more funds set to be offered in the local currency moving forward.

The BPI World Tech Feeder Fund invests in the global technology and artificial intelligence (AI), with a 47.9% exposure in semiconductor and equipment, 21.7% in tech hardware and equipment, 12.5% in software and services, and 8.1% in media and entertainment.

The Global Equity Fund-of-Funds, meanwhile, is a diversified portfolio of global equity funds managed by investment managers. It has a 26.6% exposure in information technology, 20.1% in financials, 11.4% in consumer, and 10.1% in communication and utilities.

BPI Wealth chief investment officer Tono Zialcita said the funds give retail clients opportunities to invest in global equity opportunities without needing to convert their pesos to dollars, amid the global uncertainties.

“At periods of volatility, that’s when we see the most benefit from diversification, and these funds offer clients broad diversification to a key asset class,” he told reporters in Makati City.

Moving forward, Zialcita said more funds already offered in dollars are set to be offered in the Peso Class this year.

“We are naturally looking at offering our other global funds that are denominated currently only in dollar, and opening it up as a peso share class,” he said.

“Some of the key funds would be our sustainable suite of funds, so that would cut across the sustainable equity, sustainable fixed income, and sustainable balance funds, for example, and that will potentially be opened up later this year,” he added.

Moving forward, BPI Wealth president and chief executive officer Theresa Marcial said the company is looking to sustain its assets under management (AUM) growth at 20% this year, after reporting P1.83 trillion previously.

“We see continuous growth in wealth levels across all segments. We have seen that in the last five years. In fact, last year, I believe we grew more than 20% in AUM,” she said in the same briefing. —VAL/VBL, GMA News