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Monday, April 30, 2012

ofws guide mutual fund investing in philippines

ofws guide mutual fund investing in philippines : This is how your investing strategy will work. You’ll be selecting a mutual fund company where you can transact via internet banking. Then, you’ll complete all the requirements and submit everything here in the Philippines – to whatever option that you seemed fit. Then voila, once your application is accepted, it’ll take at most, one business day before your account is created.

In cases where you would want to make additional investments, you can always use the internet banking service of your bank and pay or make fund transfers to the account of the mutual fund company.

Identify what Mutual Fund you need.
There are only a few active Mutual Funds here in the Philippines- 46 as of this date of writing. These mutual funds basically falls into four categories – Equity, Bond, Balanced and Money Market Funds.I have published a matrix wherein you can compare funds managed by FAMI, PAMI, and PEMI. You may used it as a tool for your assessment. You can find it here.As a recommendation, I advise our clients to invest in mutual fund companies that accepts additional investments via internet banking. Please check the payment options page to see what banks the Mutual Fund companies are using.

Download and fill-up the required forms.

For all of the Mutual Fund Management Companies MFPis affiliated in, you can view the requirements and download the forms here:

1. First Metro Asset Management, Inc. (FAMI)
2. PhilAm Asset Management, Inc. (PAMI)
3. PhilEquity Asset Management, Inc. (PEMI)

Submit the RequirementsAll documents for initial investment application should be submitted to the mutual fund companies, or to us (for funds managed by PAMI, PEMI, and FAMI). Well, this could really seem to be a challenge for OFWs. Is it? Here are the options:If you have a relative, a friend, or anyone you know who will be going back to the Philippines soon, you may opt to ask them a favor of carrying the documents with them, and deliver everything in the mutual fund company’s office, or ours, whichever is applicable.

Or, you may sacrifice a little cost by asking a courier like DHL, Fedex, etc.. and deliver the documents to the mutual fund company’s address. Need not to worry, you’ll only have to do this once. For the succeeding investments, a scanned copy of documents is enough.

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