Two funds managed by China Banking Corporation was recognized by the Chartered Financial Analyst (CFA) Society of the Philippines the Best Managed Fund in their respective categories.
In a statement, the bank said its China Bank Dollar Fund and China Bank Intermediate Fixed-Income Fund bagged the awards.
Lauded at the Best Managed Funds 2022 virtual awarding were a total of eight unit investment trust funds (UITFs) that provided the best risk-based returns on a consistent basis over a five-year period.
China Bank Dollar Fund remained unbeatable in the Dollar Long-Term Bond (FVPL) category, winning Best Managed Fund for the sixth time since 2016.
Meanwhile, China Bank Intermediate Fixed-Income Fund won the plum award for the first time in the Peso Medium-Term Bond (FVPL) category.
“These awards highlight China Bank’s commitment to serving our customers and track record of achieving good returns for our investors,” said China Bank Trust Officer Mary Ann T. Lim.
The winners were assessed using the Sortino ratio of each fund based on its five-year and three-year track record. The Sortino ratio captures the risk-adjusted return of a fund by comparing its return against the fund’s downside risk or volatility.
Meanwhile, China Bank Chief Finance Officer Patrick Cheng and representatives of four other major Philippine banks discussed their journey and views on sustainability at the Philippine Climate Forum organized by International Finance Corporation (IFC).
The hybrid aimed to raise awareness of Philippine regulations and policies supporting the financial sector towards green finance pathways, promote green lending and climate investment opportunities in the financial sector and capital markets.
During the panel discussion, Cheng highlighted that China Bank positions its sustainability initiatives through three key priorities or channels—through its people, through its financing activities, and through risk management.
He noted that the Bank has been making good progress, including the establishment of a sustainability team, raising US$150 million through its maiden green bonds and arranging award-winning sustainability-themed capital market deals, and developing an environment & social risk management framework to protect its assets from climate change risks.
“Being aware of the impacts of climate change to the Bank, we are currently putting more emphasis in conducting a vulnerability assessment of our asset portfolio to transition and physical risks, and reviewing our risk appetite statement to include climate change risks,” said Cheng.
He also shared how China Bank looks at sustainability and revenue growth as strong interlinked components that go hand-in-hand to sustain corporate performance, protect the environment, and create stakeholder value.
“We believe that the Bank’s revenues should not be gained at the expense of poor governance, which is why we evaluate projects on a long-term basis,” he said.