The Pag-IBIG Fund tapped BPI’s wealth management arm, BPI Asset Management and Trust Corporation (now known as BPI Wealth), to manage an additional 1 billion pesos in investment trusts, bringing the total amount under management. to 2 billion pesos. This comes after a rigorous four-month bidding process.
In 2019, the Pag-IBIG Fund outsourced fund management to its 5 billion peso portfolio. BPI Wealth won the initial bid along with four other fund managers. With its recent landmark allocation, BPI Wealth now takes control of the majority of the Pag-IBIG Fund’s equity portfolio that is outsourced to domestic fund managers. “Being selected in the first tender in 2019 is an honor as it demonstrates the confidence in us by one of the largest government financial institutions in the country. We are truly grateful. for having been awarded this second term, chosen from among many Maria Theresa Marcial, said BPI Wealth President and CEO.
She also notes that this new mission only inspires the company to do its best with the money entrusted to it by Pag-IBIG:
“Financial inclusion has always been at the heart of BPI’s mission. Through this new partnership between the Pag-IBIG Foundation and BPI, we have the opportunity to contribute even more to nation building by raising funds to help Filipinos realize their dream of having their own home. . This fits perfectly with our brand promise and new tagline, #liveyourbestlife. »
The investment mission of the Pag-IBIG Fund is a pure equity portfolio of the Philippines. This bodes well for the agency as BPI Wealth positions itself to seize opportunities in the stock market as the national economy continues to recover from the pandemic.
“The partnership between BPI and Pag-IBIG is old. We have experienced firsthand their passion for providing excellent fund management and we are confident that they will help us achieve our vision of inclusive growth for all Filipinos. We are pleased to continue to benefit from their expertise,” said Atty. Robert John Cosico, Executive Vice President of the Pag-IBIG Foundation Support Services Group. Earlier this month, the Pag-IBIG Foundation announced a record 117.85 billion pesos home loan to finance housing for 105,212 members by 2022. That year it increased by 21%. i.e. 20.57 billion pesos compared to 97.28 billion pesos announced in 2021.
Meanwhile, BPI Wealth reported assets under management of 875 billion pesos as of December 31, 2022, making it the largest independent trust company in the Philippines. BPI Wealth is a wholly owned subsidiary of the Bank of the Philippine Islands licensed to engage in trust and other fiduciary services.
