Pami launches retirement, savings product

The Philam Asset Management Inc. (PAMI) is introducing a retirement savings called the Personal Investment Program (PIP) intended primarily for companies with employees who may want to set aside funds for their future through a very affordable savings scheme. PAMI also markets the program to individuals who wish to have a savings or investment option, which is as secure as a money market placement, but with higher returns.

PAMI executive vice president Gina Goco-Morales said that PAMI is going the extra mile by pitching this to company executives, for them to institutionalize the PIP within their organization.

With PIP, an individual or firm can avail of a scheme where one can make monthly investments according to one’s budget. For employees of company-endorsed PIP, the minimum initial investment is only P1,000, and the required minimum participants per company is only 10 employees. For other individuals, minimum initial investment is P10,000.

For both investor types, minimum amount for succeeding investments is only P1,000 monthly over a specified term (e.g. 12, 18, 24, etc. months). Investing is made easy as this is done via salary deduction or issuance of post-dated checks.

“The objective is to make companies realize that they can offer PIP as an optional savings scheme through salary deduction. Employees will see the endorsement of PIP by their companies as one of their non-cash benefits – their company’s way of showing it cares by enabling them to prepare for their future,” Morales added.

With PIP, PAMI provides often-reluctant investors an easy way to build their future millions.

“We are, in effect, extending to small investors the advantages of diversification, liquidity and financial expertise that only organizations with extensive financial muscle like PAMI can provide,” the PAMI executive stressed.

A strategic alliance between the Philippine American Life and General Insurance Co. (Philamlife) and AIG Investments, PAMI is an asset management company managing a family of funds and is a major contributor to the development of the Philippine mutual fund industry.

PAMI currently administers, distributes and provides investment advisory to seven mutual funds: the Philam Bond Fund, Philam Dollar Bond Fund, Philam Managed Income Fund, Philam Fund, Philam Strategic Growth Fund, GSIS Mutual Fund, and the AIG Global Bond Fund Philippines.