BIMI TO MANAGE PAMI MUTUAL FUNDS

THE Bank of the Philippine Islands (BPI), through its wholly owned subsidiary BPI Investment Management Inc. (Bimi), agreed to assume the management and distribution of the various mutual funds currently under the management of PhilAm Asset Management Inc. (Pami). Bimi and Pami expect to complete the assignment and assumption transaction by Dec. 20, 2019. Bimi president Martin Enrile assured Pami investors that they can expect the transition to be as seamless as possible. “Like all mutual funds, the Pami funds follow certain investment guidelines set by its shareholders and board of directors. Bimi will manage the funds prudently in accordance with the investment objectives and guidelines of each investment company,” he said. “Pami investors can expect to benefit from Bimi’s consistent track record and access to its parent bank BPI’s considerable digital infrastructure and 168 years of pioneering experience in banking and finance.” Bimi is the country’s largest manager of investment companies and mutual funds.