By Ignacio R. Bunye
Pag-IBIG Fund has tapped BPI’s wealth management arm, BPI Asset Management and Trust Corporation (now known as BPI Wealth), to manage an additional P1 billion investment mandate, bringing its total managed fund to P2 billion. This comes after a rigorous 4-month bidding process.
In 2019, Pag-IBIG Fund outsourced the fund management of its P5 billion portfolio. BPI Wealth was awarded the initial bid along with 4 other fund managers. With the recent landmark awarding, BPI Wealth now takes control of the biggest portion of Pag-IBIG Fund’s equity investment portfolio that is outsourced to domestic fund managers.
“To be selected in the initial bid back in 2019 was an honor as this was a testament to the trust and confidence given to us by one of the largest government financial institutions in the country.
We are truly grateful to be awarded this second mandate, being selected among many others who participated in the second round of bidding,” said BPI Wealth President and CEO Maria Theresa Marcial.
She also noted that this new mandate only inspires the company to do its best with the funds entrusted by Pag-IBIG: “Financial inclusion has always been at the heart of BPI’s mission. Through this renewed partnership between Pag-IBIG Fund and BPI, we are given the opportunity to further contribute to nation-building by growing the funds that enable Filipinos to live their dreams of having their own homes. This is very much aligned with our brand promise and our new tagline, #liveyourbestlife.”
The investment mandate by Pag-IBIG Fund is a pure Philippine equity portfolio. This bodes well for the agency as BPI Wealth positions to seize opportunities in the equity markets as the domestic economy sustains recovery post pandemic.
The investment mandate was formalized recently with the following BPI Wealth and PagIBig officers in attendance: Mariana Zobel de Ayala, Director, BPI Wealth; Yvette Mari De Peralta, Head of Institutional Business, BPI Wealth; Maria Theresa Marcial, President and CEO, BPI Wealth; Atty. Robert John Cosico, Deputy Chief Executive Officer for Support Services Cluster, Pag-Ibig Fund; Arch. Lora B. Rivera, Vice President for Facilities Management and General Services Group, Pag-Ibig Fund.
“The partnership between BPI and Pag-IBIG goes way back. We have experienced first-hand their passion for delivering excellent fund management, and we have full trust and confidence that they will help us realize our vision of inclusive growth for every Filipino. We are excited to continue to benefit from their expertise,” said Atty. Robert John Cosico, Deputy Chief Executive Officer for Support Services Cluster of Pag-IBIG Fund.
Earlier this month, Pag-IBIG Fund reported a record-high release of P117.85 billion in home loans to finance the housing units of 105,212 members in 2022. The amount of home loans released by the agency in the said year increased by 21% or P20.57 billion compared to the P97.28 billion released in 2021.
Meanwhile, BPI Wealth reported P875 billion in assets under management as of December 31, 2022, making it the largest standalone trust corporation in the Philippines. BPI Wealth is a wholly-owned subsidiary of the Bank of the Philippine Islands authorized to engage in trust and other fiduciary services.
Investing in the youth
Ayala Foundation and Mitsubishi Corporation are preparing students to be leaders of the future and helping the youth develop stronger love of country through active citizenship.
The two institutions recently renewed their commitment to support the youth sector through a memorandum of understanding for the Maging Magiting Youth Leadership Program (MMYLP). Mitsubishi’s donation will enable 250 youth leaders to engage with their communities and implement projects that address the needs of local stakeholders.
Meanwhile, the program’s online component will allow youth leaders to participate in virtual field trips to Ayala Museum so they can deepen their appreciation for Philippine art and culture. It will also provide enrichment activities to CENTEX students to hone heir leadership skills. Lastly, the MMYLP will hold a national digital conference to celebrate the youth’s role in preserving freedom.
For 15 years, Mitsubishi has supported Ayala Foundation’s programs, particularly those for youth leaders and out-of-school youth. “Mitsubishi is glad to support this project that targets to empower youth leaders. This will pave the way to harness and maximize their potential through developing love for country,” said Mitsubishi Corporation Corporate Division Head Atsushi Okubo, adding that it is also “a testament that the partnership of Ayala and Mitsubishi is more than just doing business together.”
“These interconnected programs are new expressions of our faith in the Filipino, especially the Filipino youth. Let me thank Mitsubishi for continuing to work with us as we forge partnerships for nation building,” said Ruel T. Maranan, Ayala Foundation President.