BPI trust funds post higher yields

All four US dollar common trust funds (US$ CTFs) managed by BPI Asset Management have surpassed market expectations with local and international benchmarks posting lower to negative yields, the Bank of the Philippine Islands (BPI) said yesterday.

According to a statement, BPI International Fund Plus (IFB), BPI International Fund (IF), BPI Global Philippine Fund (GPF) and BPI Global Equity Fund (GEF) posted an annualized gross year-to-date yield of 6.48 percent 6.72, 6.76 percent and 10.37 percent, respectively.

All four funds outperformed the US three-month treasury bill and the best US dollar time deposit with 6.034 percent and 6.177 percent, respectively, BPI said.

BPI said this is a shining contrast with the performance of Salomon Brothers World Government Bond Index (BBWGBI) which incurred a negative 10.241-percent annualized net loss for the same period.

It also said BPI, currently the biggest player in the US dollar-denominated common trust fund in the Philippines, is fast becoming a solid player in the international scene.