Metrobank Trust gets high marks from Watson Wyatt

Trust Banking Group of the Metropolitan Bank and Trust Co. (Metrobank) was named top fund manager recently for the year 2000 for full discretion accounts (with less than five accounts enrolled) by the 65th Watson Wyatt Survey Retirement Fund performance in the country.

In the same category, the bank also recorded the highest average return on investment (ROI) performance among the 10 participating fund managers.

Watson Wyatt Philippines Inc. is the largest global human resource consulting firm in the Asia Pacific Region.

Despite low interest rates for the past 20 months and the stock market still in the doldrums, Metrobank Trust managed to achieve an average net yield of 11-13 percent per annum for the year 2000 and 13-15 percent per annum for the first quarter of this year for its tax-exempt accounts like Employee Benefit Trust, School Funds and long-term Personal Trust Fund accounts.

Taxable accounts such as pre-need trust, foundations, and other personal accounts registered an average return of 11-13 percent per annum net of taxes for the year’s first quarter.

Likewise, Metrobank Trust’s dollar investments, particularly the recently launched MetroDollar Trust Fund, performed well over the three month LIBOR and its direct competitors with a year-to-date gross yield of 7.486 percent per annum as of June 2001.

Metrobank has completed the re-engineering of its trust banking operations and reinforced its Investment Division.

Metrobank’s Trust arm now has a full complement of top-notch professional fund managers for fixed-income. equities and dollar investment outlets.

Meanwhile, Metrobank opened its Shanghai branch, the first full-service Philippine bank in China, This development will enhance Filipino-Chinese trade relations because Metrobank Shanghai branch can service bank transactions between the two countries.

Metrobank Shanghai, headed by bank first vice president Duncan Wang, is located at 1203 Marine Tower, 1 Pudong Ave., Shanghai.