PH-owned assets managed by Sun Life Financial breach P50B in November
Philippine-owned assets in the form of mutual funds managed by Canadian insurance giant Sun Life Financial breached an internal target of P50 billion last November, a top executive said this week.
Speaking to reporters on Thursday, Sun Life Philippines mutual fund department head Rina Pama said growth in retail investments was expected to continue growing in 2016 as Filipinos’ household incomes rise.
Sun Life Asset Management Company Inc.’s assets under management reached an estimated P50.5 billion in November, up from P46 billion last year. Pama said the growth was driven by rising interest in investments in the local stock market.
“Around 70 percent of that is in equity-laced funds,” Pama told the media.
In the next 12 months, Pama said the company sees heightened volatility in stock prices ahead of 2016 presidential elections. She said that valuations will fluctuate the most during the first quarter, until a clear leader in the presidential race emerges and that candidate’s platform is digested by the public.
Despite the expected volatility, Pama noted that elections were usually a good time for local stock prices. RAM
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