The country’s leading non-bank mutual fund management firm, Sun Life Asset Management Co. Inc. (SLAMCI), expects to breach the P100-billion milestone in terms of assets under management next year.
This is as SLAMCI continues efforts to broaden its market base, with the rollout of an all-digital platform with a minimum investment requirement of P100, the lowest touchpoint in the local market to date.
The company presently has 140,000 investors with combined AUM of over P79 billion as of end-October. It has exceeded its 2019 AUM goal of P65 billion due to the influx of investments in money market funds, company president Valerie Pama said.
Pama is hoping that SLAMCI could end the year with P80 billion AUM and breach the P100 billion mark by next year.
“We are encouraging more Filipinos to invest in mutual funds as a way to achieve their life goals,”Pama said.
Millennials, which SLAMCI defines as those who were born between 1980 and 1996, comprise about 70 percent of SLAMCI’s clients in terms of number of accounts.
“Obviously, millennials have a low-ticket size because they are building their investment but nonetheless, we don’t want to forget the needs that they have,” said Gerard Bautista, SLAMCI head of agency bank and alternative channel.
A prospective investor can use SLAMCI Online to embark on a purely digital investing process and invest in the SLAMCI money market fund for a minimum investment of only P100 and a selfie, along with a handful of questionnaires that one must fill up online as part of the know-your-customer requirement. INQ