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Philequity unveils new mutual fund offering

/ 05:09 AM January 07, 2019

Mutual fund management firm Philequity has rolled out its newest mutual fund—one that mirrors the holdings and weights of the 23-member MSCI Philippines index, a benchmark provided by Morgan Stanley Capital International.

“Tracked by global asset managers, the benchmark aims to measure the performance of the large and mid-cap segments of the Philippine market,” Philequity Management said in an advisory.

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With 23 constituents, the index covers about 85 percent of the Philippine equity universe. The fund seeks to allow local investors to track companies most attractive to foreign funds.

The new fund pitches growth in investment with a global approach to Philippine stocks.

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The new Philequity MSCI Philippines Index Fund will allow investors to participate for as low as P5,000 and at increments of P1,000 thereafter.

The minimum holding period is 90 days. Management fee is 1 percent a year. For investors who redeem their investment before the holding period, the exit fee is 1 percent.

A mutual fund is an investment vehicle that pools together the funds of various investors—both individuals and corporations. The pool of funds is managed by a professional fund manager who uses the funds to create a diversified investment portfolio consisting of various investment instruments such as stocks and bonds. —DORIS DUMLAO-ABADILLA

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