First Metro unit inks tieup

The fund management subsidiary of First Metro Investment Corp. partnered with Model Cooperative Network (MCN) to launch a mutual fund designed for cooperatives.

First Metro, through First Metro Asset Management Inc. (Fami), said the fund would be known as First Metro Save & Learn F.O.C.C.U.S (Salfoccus) Dynamic Fund.

It aims to provide cooperative members satisfactory returns on their investments through active fund management.

MCN is a national federation of cooperatives with savings and credit operations.

“Fami is proud of this partnership with MCN. Besides developing a new product, we’re able to showcase our ability to create customized funds to niche markets,” Fami president Karen Liza Roa said in a statement.

For now, the Salfoccus Dynamic Fund is offered as an additional financial product to members of cooperatives under MCN only.

However, it will also be made available even to non-MCN members in the future.

“Through our partnership with Fami, we’re able to bring the benefits of investing with the help of a professional fund manager to our individual members,” said Rhoda Ruth Pillerin, MCN CEO.

“The experience of many successful cooperatives in the Philippines has shown us that even the economically challenged segment of our population can build their savings and investments portfolio,” she added.