SSS taps Metrobank to manage P1.5 billion fund

MANILA, Philippines — Social Security System (SSS), the state-pension fund, has selected Metrobank Trust, the trust banking arm of the Ty-led Metropolitan Bank & Trust Co. (Metrobank) to manage a P1.5 billion balanced fund.

Under the mandate, Metrobank Trust will be responsible for managing and growing the balanced fund by investing in equities and fixed-income assets, aiming to bring back optimal returns to SSS for private sector employees.

“We are privileged to receive this mandate from one of the country’s largest pension funds as it signifies a vote of confidence in Metrobank’s leadership, expertise and exceptional service standards in investment management,” Jikee Reyes, head of Metrobank’s Trust Banking Group, said in a statement.

“We look forward to extending our management proficiency to SSS’s valued clients, our fellow Filipinos,” Reyes added.

The bank said SSS recognized Metrobank’s track record, its capacity and overall asset management performance in choosing the lender to be its local fund manager for its balanced fund.

Metrobank posted record-high earnings of P42.2 billion in 2023, 28.9 percent higher than the P32.78 billion booked in 2022, on the back of asset expansion, higher margins, improving efficiency levels and better asset quality.