BPI unit tops P200B in assets

Our long history of prudent fund management has allowed BIMI to grow its retail business by 24 percent.

Despite the challenges posed by the pandemic, the Bank of the Philippine Islands (BPI) Investment Management Inc. or BIMI, surpassed the P200 billion mark in terms of assets under its management (AUM).

Ending the first week of February with P202 billion in total AUM, BIMI has almost doubled its business with a 96 percent growth owing to its assumption of the Philam Asset Management Inc. mutual funds coupled with strong inflows from retail investors.

BIMI President Martin Enrile expressed his satisfaction with the latest development as the increase in AUM reflects the market’s confidence with the BPI unit.

“Our long history of prudent fund management has allowed BIMI to grow its retail business by 24 percent. BIMI’s solid performance amidst market volatility and economic uncertainty due to the coronavirus disease 2019 pandemic is a testimony to our hard-earned reputation of providing stable investment outlets under various market conditions,” Enrile said.

With its latest figure, BIMI cements its market leadership as the largest mutual fund management company in the Philippines, growing from 35 percent market share in 2019 to 54 percent in end-2020.

BIMI’s solid performance amidst market volatility and economic uncertainty due to the coronavirus disease 2019 pandemic is a testimony to our hard-earned reputation of providing stable investment outlets.

Ready for bounce

The BIMI chief added he is confident that the company is in a good position to take advantage of the economy’s trajectory towards a quick rebound.

“We look forward to the rest of 2021 with much optimism. As vaccines begin to find their way to the general population and consumer mobility goes back to pre-pandemic levels, we look forward to a gradual restoration of economic activity,” Enrile said.

“Backed by an institution that has seen all kinds of crises in its 169-year history, BIMI is well-poised to take advantage of a much more favorable investment environment with its fortified sales resources, system upgrades, timely marketing activities and product launches suited to the rapidly changing needs of the investing public,” he concluded.