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Manila Bulletin devider Business devider Mobile wallet boosts fund investments

Mobile wallet boosts fund investments

Published Dec 24, 2021 05:19 pm

GInvest, the investment marketplace feature of the GCash App, has helped the mobile wallet capture 70 percent of the home market for total Unit Investment Trust Fund (UITF) accounts in just six months.

UITFs - open-ended pooled trust funds invested collectively in Bangko Sentral ng Pilipinas-approved diversified portfolios, are affordable vehicles for participating in the financial markets.

For this reason, GCash, the country's largest mobile e-wallet service, expanded opportunities for investors with appetite for "aggressive risk" via a couple of new funds under its GInvest products.

GCash users can now put their money in Bank of the Philippine Islands (BPI) investment funds through BPI Investment Management Inc.'s (BIMI) ALFM Global Multi-Asset Income Fund and the Philippine Stock Index Fund under GInvest.

Users of GInvest can invest P1,000 minimum in the ALFM Global Multi-Asset Income Fund, a US dollar-denominated feeder fund whose target fund is managed by the world’s largest asset managers, BlackRock.

The fund historically provided dividends monthly while generating long-term capital growth.

Being a feeder fund, it invests at least 90 percent of its assets into a single collective scheme.

Globally it is into the full spectrum of permitted investments, including equities and equity-related securities to guarantee dividends to the investor.

In addition, GInvest users can place a buy order for P50 minimum in the Philippine Stock Index Fund.

The fund tracks the performance of the Philippine Stock Exchange Index, which is composed of the top 30 largest and most traded companies in the country.

Both funds are appropriate for investors with an aggressive risk profile eyeing a five-year investment horizon.

The new BIMI funds enable GInvest investors to diversify their portfolios.

In total, the GInvest platform now covers seven funds with an option for every kind of investor, from the ATRAM managed funds (Money Market Fund, Philippine Total Return Bond Fund, Philippine Smart Equity Index Fund, Global Technology Feeder Fund, Global Consumer Trends Fund) to the new BPI managed funds (ALFM Global Multi-Asset Income Fund and the Philippine Stock Index Fund).

In five minutes, an investor can register, using one valid ID and verify a GCash account.

Next, he can place buy orders and sell orders, track his investments and set regular investment reminders to invest consistently.

Related Tags

GCash mobile wallet GInvest INVESTING IN FUNDS
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