Metrobank trust assets hit P100-B mark

Metropolitan Bank & Trust Co. (Metrobank) hit the P100-billion mark in its assets under management (AUM) at year-end amounting to P107 billion or a hefty 50.7 percent increase from the December 2002 level of P71 billion.

Metrobank has consistently posted the biggest growth in the trust banking industry since 1999, growing 500 percent from P18 billion to over P100 billion in four years, or an average annual growth rate of 56 percent. Metrobank also chalked up a 16 percent market share.

Metrobank executive vice president and trust officer Josefina E. Sulit said the outstanding performance was due to "the right product mix, investment expertise and the excellent service that we always strive to give our clients."

Among the best selling funds are MetroFund and Metro Dollar Trust Fund. Metrofund is the flagship Philippine peso fixed-income fund that allows clients to reinvest their interest income together with their principal on a regular basis. Metro Dollar Trust Fund, on the other hand, is the flagship US dollar denominated fund invested in high-yielding dollar bonds and other dollar-denominated securities not usually accessible to local investors.

Other common trust funds are the Metro Common Wealth Fund, Metrofund Extra, Metrofund Max-5, Metro Invest Plus, and Metro Capital.

"With the various CTFs, clients can choose the type of funds that matches their particular investment needs. We also have at our disposal research and technology that allow us to respond to market changes as well as investment and asset management needs of our clients," said Sulit.

"Metrobank Trust Banking is driven by its main investment philosophy of always giving primary importance to capital preservation. We believe in safeguarding the funds entrusted by our clients as paramount to determining the potential returns and risks of any investment securities," Sulit added.

Abundance, the newest trust product, is designed for high net worth individuals. It combines the benefits of tax-exemption, estate planning and asset management under a living trust arrangement. The product has an added feature of loyalty travel benefit that allows clients to accumulate points redeemable as travel rewards.

Other customized trust products of Metrobank include revocable and irrevocable trust, life insurance trust and investment management. The Trust Banking Group also handles fund management for corporate accounts such as retirement, pre-need and school and foundation funds, and other specific requirements of corporate accounts. It also serves the trust and agency needs of corporations issuing debt and equity instruments through mortgage and collateral trust indentures, loan agency, transfer and paying agency and registry services. It also handles escrow needs of both corporations and individuals.