May 19, 2013

BPI to issue P250-M Exchange Traded Funds

The Bank of Philippine Islands (BPI) is set to issue some P250 M worth of Exchange Traded Fund (ETF) to offer another kind of mutual fund product to its clients. The P250 million would just be an initial minimum required capital for the creation of ETF.

The bank would eventually  increase the amount to address the huge demand from investors. BPI Asset Management’s assets under management (AUM) for the first quarter of 2013 reached P758 B, up by 10% from the same period last year. - WealthSec