PhilEquity to launch mutual fund

MANILA, Philippines - Fund manager PhilEquity Management Inc. (PEMI) has secured the corporate regulator’s approval to set up and launch a mutual fund focusing on dividend yielding stocks.

The Securities and Exchange Commission approved the registration of 500 million common shares of PhilEquity Dividend Yield Fund Inc. at a par value of P1.

Hence, PEMI moves a step closer to launching PhilEquity Dividend Yield, a mutual fund that subscribes to listed companies with the highest dividend yields.

“The fund is a medium-risk fund with investments that consist primarily of equities in companies listed on the Philippine Stock Exchange (PSE) that distribute dividends,” PEMI said.

However, the percentage of the fund that might be invested in any listed company shall not exceed 15 percent of the fund’s net asset value.

“The minimum initial investment is P20,000 while the minimum additional investment is P5,000,” PhilEquity Dividend Yield said.

Proceeds from the share sale will be used to buy stocks of PSE-listed companies that hand out dividends. Estimated gross proceeds of the fund’s shares is estimated at P191.6 million.

The mutual fund’s manager, adviser and distributor is PEMI, which will charge a management fee of a maximum of three percent per annum.

Custodian bank is Philippine Depository & Trust Corp. while receiving bank is EastWest Bank and transfer agent is BDO Unibank Inc.

PEMI is a investment management company established in 1993. It is the investment manager and principal distributor of PhilEquity Fund Inc., one of the Philippines’ best performing equity mutual fund.