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Thursday, August 03, 2006
Ordinary firm workers get chance to invest in stocks
Rank-and-file company employees can now invest in various investment instruments with the savings plan offered by the fund management arm of the Philam group of companies.
According to Philam Asset Management Inc. (Pami) president and chief executive officer Karen Liza Roa, Pami is now partnering with companies in this new scheme, which allows employees—with the help of their employers—to save a portion of their income every payday, until such time that their savings reach the P5,000 minimum investment requirement.
With the sum, ordinary income-earners can invest in the fixed income market or the equities market.
Fixed income investments are those invested in the peso market, treasury bonds or treasury bills floated by the government. Equities investment, on the other hand, have higher yield than fixed income investment, but are riskier as they are placed in the volatile stock market.
A mutual fund management company pools the savings of many individual and institutional investors who share a common financial goal. These investors buy shares of a particular fund that has defined investment objectives and strategies.
In Cebu, Pami’s partner in the plan are contact center company Calltek Center International Inc. (Calltek) and Cebu Holdings Inc. (CHI).
CallTek, which holds office at JY Square Mall, purchased some P800,000 worth of mutual funds for its 72 employees, who are qualified to receive the incentive.
CallTek president Ken Wang, in an earlier interview, said giving performance incentives in the form of savings has been the trend in many companies worldwide.
“We are bringing it here in the Philippines by forcing our employees to save their performance incentives in the form of mutual funds. This is because we want our employees not just to be technically successful but financially successful as well,” he said.
Roa did not elaborate on its arrangement with CHI, as the partnership is still new. (JBN)
For Bisaya stories from Cebu. Click here. (August 3, 2006 issue)
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