SSS taps Metrobank Trust to manage P1.5B in funds
SOCIAL Security System (SSS) has chosen Metropolitan Bank & Trust Co.’s (Metrobank) trust banking group to manage its P1.5-billion balanced fund.
“We are privileged to receive this mandate from one of the country’s largest pension funds as it signifies a vote of confidence in Metrobank’s leadership, expertise, and exceptional service standards in investment management,” Metrobank Trust Banking Group Head Jikee Reyes said in a statement.
“We look forward to extending our management proficiency to SSS’ valued clients, our fellow Filipinos,” Ms. Reyes added.
Metrobank Trust was awarded the mandate to manage SSS’ balanced fund in February. The mandate will run for three years, the bank said.
The bank’s trust banking unit is tasked to grow SSS’ balanced fund through investments in various equities and fixed-income assets.
“SSS underscored Metrobank’s track record for success, along with the capacity and the overall asset management performance of its Trust Banking Group, as the main drivers for choosing Metrobank Trust to be its local fund manager for its balanced fund, besting other bidders,” the bank added.
Metrobank booked an attributable income of P42.238 billion in 2023, up from P32.776 billion in 2022. — B.M.D. Cruz
