Sun Life sees rise in AUM
DAVAO CITY — Sun Life Asset Management Company, Inc.’s (SLAMCI) assets under management (AUM) in Davao grew by about 53% to P1.02 billion in March from P667 million in the same month last year, prompted by the city’s robust local economy, according to the firm’s top executive.
In a press conference here last week, SLAMCI President Valerie N. Pama said there is also a growing recognition of financial investing outside banks and real property.
SLAMCI’s total AUM in the country, she noted, has increased from about P150 million in 2000 with only three products under the Sun Life Prosperity Funds to P47.7 billion with eight funds as of the end of first quarter this year.
Ms. Pama said Sun Life Prosperity Funds marked considerable yearon-year returns, citing 18.37% for the Philippine Equity Fund, 13.28% for the Balance Fund, and 5.93% for the Dollar Abundance Fund, and 13.96% for the Dynamic Fund.
On May 5, SLAMCI will be launching its Sun Life Prosperity Philippine Stock Index (PSI) Fund, targeted mainly for green and young potential investors.
“The Index Fund targets the neophyte investors, especially the young professionals, most of whom are spending- driven consumers,” said Michael Gerard D. Enriquez, chief investments officer of Sun Life of Canada Philippines, Inc. “The Philippines has a very young population with a median of 22 years old. This is a very consumptiondriven population.”
Minimum subscription for the Stock Index Fund is P5,000.
“The Sun Life Prosperity Philippine Stock Index Fund closely tracks the performance of the Philippine Stock Exchange index ( PSEi), and mirrors its performance by investing in stocks which comprise the index,” Mr. Enriquez explained.
Ms. Pama added: “The PSEi actually grew by 152% in the last five years; now, clients can ride on the growth of the Philippine stock market simply by investing in the Sun Life Prosperity Philippine Stock Index Fund.”
Mr. Enriquez said income from the business process outsourcing sector and remittances from overseas Filipino workers are projected to continuously increase, which will “contribute $ 50 billion to the Philippine economy.”