BANK of the Philippine Islands’ asset management arm said its unit investment trust fund remained the largest of its kind at the end of the first quarter. — BW FILE PHOTO

THE UNIT investment trust fund (UITF) of BPI Asset and Management Trust Corp. (AMTC) remained the largest of its kind in the industry as of end-March, tallying larger returns compared with globally renowned index.

In a statement on Monday, the asset management subsidiary of Bank of the Philippine Islands (BPI) said its BPI Global Equity Fund-of-Funds breached the $100-million mark in assets under management to remain the largest UITF in the industry at the end of the first quarter.

“This is good news not only for us but most especially for our investors as we continue to offer growth opportunities to our clients through various global funds,” said BPI AMTC President Sheila Marie Tan. “We strive to open more doors for Filipino investors with promising investment opportunities beyond the Philippine markets.”

The investment vehicle beat the returns of Morgan Stanley Capital International (MSCI) World Index by 0.94% year-to-date to 2.58% over two years as of the previous quarter, it said.

The MSCI World Index is made up of large and mid-cap equities of 23 developed markets such as the US, UK, Japan, Hong Kong and Singapore.

Key challenges to the fund were economic downturns in the previous years such as the yuan depreciation in the last quarter of 2015, Brexit talks in the second quarter of 2016, as well as other events in 2018 such as the trade war, US inflation scare and geopolitical tensions in Europe and Syria. However, during these periods, BPI AMTC said its UITF posted an outperformance of 1.59%, 0.86% and 2.41%, respectively.

The UITF managed by BPI AMTC invests in a diversified portfolio of global equity collective investment schemes managed by State Street Global Advisors, Wellington Management, Capital Group and UBS Asset Management.

Investors may park funds starting at $500 through BPI Online or through BPI or BPI Family Savings Bank branches.