OF investors grow threefold in 5 years

The number of overseas Filipino (OF) remitters and their beneficiaries who are into investments has tripled since 2013, according to customer data from BPI Asset Management and Trust Corp. (BPI AMTC).

The company said this was a welcome trend as more OF 35 years old and above begin to realize the importance of investing.

“Our OF clients have started considering investments to fund long-term goals,” said BPI AMTC President Sheila U. Tan. “While remitters, according to a BSP report, still allocate some 40 percent of their earnings in the purchase of appliances, vehicles and a family home, there is promising data that remittances for investment are starting to become part of the OF lifestyle.”

The peso-denominated equity fund is the most popular investment product among OF investors, with more than 60 percent of them holding this fund type. Around 20 percent have likewise acquired the habit of investing by enrolling their accounts in an automated regular investment program.

“Our regular subscription plan automatically debits an investor’s savings account on a monthly basis to channel them into investments. The fact that OF clients are into equity funds and commit to save and invest on a regular basis indicate improved financial literacy.

We are glad that our efforts on educating them is showing promising results,” said Tan.

BPI AMTC has been awarded the Best in Financial Inclusion Program in the 2nd Bank Marketing Awards for its creative and impactful investment learning seminars, which target primarily non-investors in the mass market and OF segments. The company recently concluded a series of seminars on practical financial planning in areas with heavy concentrations of OF families, particularly Fairview in Quezon City, Baguio and Pampanga.

BPI AMTC is a trust corporation managing total assets of more than P570 billion from both institutional and individual investors. It was recently named the Best Asset and Fund Manager in the Philippines for the fourth consecutive year in the Alpha Southeast 12th Annual Best Financial Institution Awards 2018.