Thursday, May 24, 2007 Asset management firm to bring new product to urge investing
DETERMINED to maintain its lead in the country’s mutual fund industry, the Philam Asset Management Inc. (Pami) will roll out in the local market its new product line.
The AIG Global Bond Fund Philippines Inc. will be introduced in Cebu next month, said Karen Roa, Pami president and chief executive officer.
“It accepts dollar currency but is made to invest in 20 countries all over Eastern Europe, America, Asia, etcetera,” she told Sun.Star Cebu.
The fund will be managed out of AIG’s London office, Roa added.
Interest
To help boost the interest of its clients, Pami is set to conduct a series of road shows in Manila, Cebu and Davao to promote its new product line.
Roa said Pami has been aggressive in its efforts of introducing new products that provide not only wider investment options but will encourage long term savings and investments among Filipinos.
Yields
“In the global market, investors are getting sophisticated. That’s why we encourage long-term investments because that’s where the yields are,” she said earlier.
Pami’s total assets in management grew to approximately P20 billion at the end of 2006, accounting for 60 percent of the country’s mutual fund industry.
Roa said the first quarter data revealed the company’s total assets has already gone up to P21.45 billion.
In Cebu alone, it managed a total asset of P380 million in the first quarter of this year, a 58 percent jump from the same period last year. (MMM)
