BPI unit grows assets under management

MANILA, Philippines — Ayala-led Bank of the Philippine Islands continues to expand its assets under management (AUM) after breaching the P1-trillion level despite uncertainties brought about by the pandemic.

Martin Enrile, president of BPI Investment Management Inc. (BIMI), said 2020 was a landmark year for the company after it nearly doubled its business with a 96 percent growth due to the assumption of the PAMI Mutual Funds from Philam Asset Management Inc. (PAMI), as well as the strong inflows from retail investors.

“Our long history of prudent fund management has allowed BIMI to grow its retail business by 24 percent. BIMI’s solid performance amidst market volatility and economic uncertainty due to the COVID-19 pandemic is a testimony to our hard-earned reputation of providing stable investment outlets under various market conditions,” Enrile said.

As of the first week of February, the AUM of BIMI stood at P202 billion

BIMI cements its market leadership as the largest mutual fund management company in the Philippines, growing its market share to 54 percent in end-2020 from 35 percent in end- 2019.

“We look forward to the rest of 2021 with much optimism. As vaccines begin to find their way to the general population and consumer mobility goes back to pre-pandemic levels, we look forward to a gradual restoration of economic activity,” Enrile said.

Backed by an institution that has seen all kinds of crises in its 169-year history, Enrile said BIMI is well-poised to take advantage of a much more favorable investment environment with its fortified sales resources, system upgrades, timely marketing activities, and product launches suited to the rapidly changing needs of the investing public.