BPI introduces $-denominated feeder funds
MANILA, Philippines - The Asset Management and Trust Group (AMTG) of the Bank of the Philippine Islands (BPI) has introduced two new funds recently invested in the US and European equities market.
The BPI US Equity Feeder Fund and BPI European Equity Index Feeder Fund, or feeder funds invested in a US dollar-denominated portfolio in a one-target fund, is a unit investment trust fund (UITF), which in turn, is benchmarked on an overseas exchange traded fund (ETF).
BPI’s US fund tracks total returns of the S&P 500, an indicator for the broad market of US stocks.
Investing in US equity-invested ETF “assumes that the US economy will recover soon as earnings of US companies reflect very strong growth in the medium term.
The European ETF is benchmarked to the Euro Stoxx 50, a blue chip index of companies in the euro zone.
Minimum investment for each of the funds is $1,000 with minimum increments of $500 for additional investments.
The BPI AMTG is one of the country’s leading trust licensees with baskets of investment instruments including mutual funds, UITFs, and escrow funds, for institutional and individual investors.
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