Bankcom UITFS 3rd-best among peers, poll shows

BANK of Commerce (Bankcom), the banking arm of San Miguel Corp., announced that two of its peso unit investment trust funds (UITFS) ranked third in their respective categories, according to a recent industry survey.

Bankcom noted that the survey conducted by the UITF resource center showed that Bankcom’s Diversity Money Market Fund (DMMF) was the third best-performing in its category for the past 12 months, as of June 30 2022, besting 33 others.

The bank’s Diversity Peso Bond Fund (DPBF), on the other hand, clinched the same position for the same period, beating out nine other players in its category.

Bankcom said its DMMF suits conservative investors with a horizon of one year or less, as it is invested in bank deposits, treasury bills, and other short-term investments.

Meanwhile, despite the challenging environment for bond-type funds, Bankcom said its DPBF remains as one of the most defensive in the category of long-term bond UITFS.

“[The] UITF is the best way to start a savings plan even with a small amount. Coupled with Bankcom’s Easy Investment Plan [EIP], building a nest egg is simple and easy,” advised Bankcom’s Senior Vice President and Trust Services group Head gamalielh Ariel Benavides.

Earlier this year, Bankcom made its stock market debut at the Philippine Stock Exchange (PSE) under the ticker “BNCOM.”

The bank’s debut at the bourse came after an initial public offering (IPO) consisting of 280.60 million common shares at P12 per share. Bankcom said it was able to raise P3.36 billion in its IPO from March 16 to 22.