BPI subsidiary posts $14.9bn total assets under management

The company’s largest product in terms of valuation is mutual funds’ assets reached $1.08bn.

The BPI Asset Management and Trust Group (BPI-AMTG) has reported that its total assets under management (AUMs) as of end June 2011 amounted to P633.161 billion ($14.9 billion) total assets under management), up 30.4 percent from the end year 2010 assets worth P485.253 billion ($11.42 billion).

BPI-AMTG is a subsidiary of the Bank of the Philippine Islands (BPI).

As a whole, the group manages mutual funds, unit investment trust funds (UITFs), the Odyssey funds, and other funds including funds in escrow, reserve of pre-need companies, corporate and institutional funds, pension and provident funds.

Largest of these in terms of valuation, is the mutual funds, bulk of which are invested in fixed income or bond funds in peso-denominated instruments. Its assets are worth P45.9 billion ($1.08 billion).

Under the banner of the ALFM family, the mutual funds are also invested in a strategic fund, US dollar and euro fixed income funds, stock index fund, and money market.

The next largest is the Odyssey fund, which were originally funds managed by the asset and investment group of ING Bank. It was acquired by BPI and now known as such.

View the full story in The Philippine Star.