BPI Investment Management Inc. (BIMI), a subsidiary of the Bank of the Philippine Islands (BPI), has partnered with GCash to make two of its top mutual funds available in the mobile wallet platform to make investing more convenient for more Filipinos.
Starting December 6, the Philippine Stock Index Fund and ALFM Global Multi-Asset Income Fund will be available via GInvest, which is one of the most popular features of GCash.
BIMI President Martin Enrile said this partnership will allow GInvest users to invest for as low as P100 for the Philippine Stock Index Fund and P1,000 for the ALFM Global Multi-Asset Income Fund.
“This will help bring down some of the barriers that prevent many Filipinos from investing and taking advantage of the markets. Investors will also enjoy great convenience since they don’t have to go through the hassle of physically visiting a branch just to submit documents. Everything is digital,” said Enrile.
With a verified GCash account, investors only need to click GInvest to register and proceed with the KYC (Know Your Customer) process. Once confirmed, clients may now invest in BIMI’s mutual funds.
The Philippine Stock Index Fund is one of the first local stock index tracker funds in the country. It closely mirrors the performance of the Philippine Stock Exchange Index. ALFM Global Multi-Asset Income Fund, on the other hand, is the first dividend-paying feeder mutual fund in the Philippines. It takes a risk-first approach where risks are first identified, planned for, and managed. The fund is also diversified across geographies, sectors, and traditional and complementary asset classes.
“We see GCash as an important partner as we aim for financial inclusion for more Filipinos. We look forward to having more BPI products in the app soon,” Enrile added.
BIMI ended the third quarter of 2021 with a total of P218.7-billion in assets under management.