BDO Unibank, Inc. added another milestone to its achievements as its consolidated trust assets under management (AUM) hit the PhP 1 trillion mark at year-end 2016.
This effectively made the Bank the first Philippine financial institution to cross the threshold, growing its AUM by 12% from its end-2015 level of PhP 917 billion.
The AUM is shared between BDO’s Trust and Investments Group (TIG) with Php755 billion and the Wealth Advisory and Trust Group (WATG) of subsidiary BDO Private Bank (BDOPB) with PhP 273 billion. TIG is known for its retail investments products notably its family of Unit Investment Trust Fund (UITFs) as well as its customized portfolios for individuals as well as corporations. BDOPB, on the other hand, focuses on servicing the investment and estate planning needs of high net worth individuals using an open architecture framework.
“2016 was a banner year for BDO both for business growth and new product development in terms of trust assets,” said Ador A. Abrogena, Executive Vice President and Trust Officer of BDO.
BDO launched last year the BDO ESG Equity Fund which is invested in the stocks of local companies with consideration for good Environmental, Social and Governance (ESG) practices. For developing this pioneering investment fund, BDO Trust was awarded by The Asset Magazine the Impact Investor of the Year Award during the 2016 Triple A Asset Servicing, Investor and Fund Management Awards.
For global investors, the Bank introduced the BDO US Equity Feeder Fund for clients who wish to invest in the US equities. This widens the choices of investors who are looking to invest in foreign markets and complements BDO’s current listing of Feeder Funds as follows: BDO Developed Markets Property Index Feeder Fund, BDO Global Equity Select Feeder Fund and the BDO China Equity Feeder Fund.
Also last year, BDO became the country’s first accredited Personal Equity and Retirement Account (PERA) Administrator, after successfully hurdling the requirements of both the Bangko Sentral ng Pilipinas (BSP) and the Bureau of Internal Revenue (BIR). PERA is a voluntary retirement account that is meant to supplement a Filipino’s GSIS, SSS and/or corporate pension benefits.
The Bank’s performance in 2016 was conferred by various awards such as Fund House of the Year by AsianInvestor Magazine, the Best Investment Management Company by World Finance Magazine and the Asset Management Company by The Asset Magazine.
BDO TIG’s investment products can be accessed through its more than 1,000 branch network strategically located nationwide. Aside from the branches, BDO UITFs, which also have the largest AUM in this segment, are also available through its Invest Online facility which allows 24/7 investment transactions from anywhere as long as one has a BDO online banking account. BDO UITFs are also available via the Easy Investment Plan (EIP), a facility that enables investors to save and invest regularly and do peso cost averaging.
“We are grateful to our clients whose continuing confidence in our trust and investment products and services propelled us to reach PhP 1 trillion AUM level. This achievement will not only inspire us to work harder towards better serving our clients, it will also strengthen our resource base that will allow us to fully harness economies of scale and thereby deliver better performance,” noted Abrogena.