Sun Life launches Philippine stock index fund
MANILA, Philippines – Sun Life Asset Management Company Incorporated (SLAMCI) has launched a new fund that can give clients access to the 30 largest companies in the Philippines, along with the opportunity to participate in the long-term growth of the Philippine market.
Called Sun Life Prosperity Philippine Stock Index Fund, the new fund closely tracks the Philippine Stock Exchange Index (PSEi), and mirrors its performance by investing in stocks which comprise the index.
The Sun Life Prosperity Philippine Stock Index Fund is available starting Tuesday, May 5.
SLAMCI said clients can have the opportunity to access the country’s biggest corporations without having to shell out a huge amount of money, nor having to consume too much time tracking their investments.
“This fund is perfect for investors who have a high-risk appetite and a long-term investment horizon,” said SLAMCI President Valerie Pama.
Pama noted that the PSEi grew 152% in the last 5 years and now, clients can ride on the growth of the Philippine stock market by investing in the Sun Life Prosperity Philippine Stock Index Fund.
Managed by the company’s team of fund managers, the new fund is the latest addition to SLAMCI’s Sun Life Prosperity Funds.
Now with P47.6 billion ($1.07 billion) in assets under management, SLAMCI marked a 10.38% year-on-year growth, and is the largest non-bank asset management company in the Philippines as of end-March March 2015.
The Sun Life Prosperity Funds also marked year-on-year increases, including the Philippine Equity Fund (18.37%); Balanced Fund (13.28%); and Dollar Abundance Fund (5.93%).
The Dynamic Fund, which was launched in July 2014, posted a 14% return from inception to end-March 2015. – Rappler.com
$1 = P44.61