SSS taps BPI to manage P2.5 billion worth of funds

MANILA, Philippines — The wealth management arm of Ayala-led Bank of the Philippine Islands (BPI) has been mandated by state-run pension fund manager Social Security System (SSS) to manage P2.5 billion worth of investment funds.

BPI Wealth president and CEO Maria Theresa Marcial said the company is honored to be chosen by SSS as one of the partners that would manage the pension fund’s investment portfolio after a rigorous four-month bidding.

“Amid the most challenging markets in recent years, this new mandate proves that despite market volatility, we have delivered on our commitment to achieve target returns, provide superior service, and offer expert advice, “Marcial said.

BPI Wealth aims to grow its AUM to P1 trillion by the end of the year from P875 billion last year. As of end-March, its AUM stood at P950 billion.

“Watch towards the end of the year, we’re going to cross P1 trillion,” Marcial earlier told The STAR.

After being rebranded from BPI Asset Management and Trust Corp. (AMTC), Marcial said BPI Wealth is focusing on showing the market that the 171-year-old bank is increasing its customer obsession mindset toward investment products that will cater to a whole range of customers.

More than 6,500 accounts were opened since the digital account opening for investments was launched late last year.

Starting next month, BPI Wealth is reducing the minimum investment amount for unit investment trust funds (UITFs) to P1,000 from P10,000 as it ramps up its push for financial inclusion by making investing more accessible and affordable for Filipinos.

The move aims to help Filipinos, particularly those just starting to build their portfolios and aligns with BPI’s mission of promoting financial inclusion.

“The company believes everyone deserves a chance to grow their wealth and secure their financial future. With lower minimum amount for UITFs, BPI Wealth is making investing easier and more inclusive,” Marcial said.