In a press statement, the Bangko Sentral ng Pilipinas (BSP) said its Monetary Board recently approved the amendment of existing regulations to strengthen the qualification requirements of
Unit Investment Trust Fund (UITF) marketing personnel.
The contributions are invested in unit of
unit investment trust fund, shares of stock of mutual funds, annuity contract, insurance pension product, pre-need pension plan, share of stock or other security listed and traded in a local exchange, exchange-traded bond, and government securities.
Banks'
unit investment trust funds continue its decline, it dropped to P555.39 billion as of end-March from P637.37 billion last year.
As of 2017 China Bank ranked sixth-largest in the trust industry, managing nine
Unit Investment Trust Funds and handling P132 billion in total assets under management.
Metrobank offers the
Unit Investment Trust Funds (UITF), a pooled fund that provides access to high-grade investments which are not normally accessible to retail investors.
This is the first income-paying
unit investment trust fund for investors who want to earn more from their foreign currency investments given the strength of the dollar and current market conditions.
They can invest in pooled funds like mutual funds,
unit investment trust funds and variable unit-linked funds.
Banks'
unit investment trust funds dropped to P576.98 billion from the previous year's P825.13 billion while personal trusts fell to P220.39 billion from P393.33 billion.
Manulife Asset Management's entry into the market last year would broaden the group's business especially as the minimum investment in its
unit investment trust funds (UITFs) is at only $100, he said.
on Monday introduced a new investment vehicle, a
unit investment trust fund (UITF), that will allow local participants to invest in companies across the Asia-Pacific region.