New bond-focused invest firm gets SEC nod

MANILA, Philippines - The Securities and Exchange Commission (SEC) has approved the creation of a new investment company focusing on bonds.

In an en banc decision, the corporate regulator said it allowed the registration of P500 million common shares of Soldivo Bond Fund Inc.

It also gave the go-signal for Soldivo Bond Fund to operate as an investment company. As a bond fund, the company will pool investors’ money and invest in bonds and other debt instruments like government, corporate and convertible bonds.

Soldivo Bond Funds said its investment objective is “capital preservation with returns and inflows derived out of investments in high-grade fixed income instruments.”

“The fund considers a medium- to long-term investment horizon for its shareholders. The fund’s investment objective is classified as conservative,” it added.

The minimum initial investment is P5,000 and the minimum additional investment is P1,000.

Proceeds from the sale of shares will be used to build up its investment in fixed-income instruments including but not limited to long-term and short-term government securities, Soldivo Bond Fund said.

“Investments in equities will be in a combination of companies with big and medium capitalization that can provide good value and capital appreciation over the medium term,” it added.

The company’s application for incorporation was approved by the SEC’s Company Registration and Monitoring Department in July 2013.

The company has an authorized capital of 500 million shares, of which 125 million shares are issued and outstanding at a par value of P1 apiece.

Stockholders’ equity is at P121.03 million given a net asset value per share of P0.9682 each.

Kaiser International Healthgroup Inc. owns 80 percent of the outstanding shares while investment manager Rampver Financials Insurance Agency Inc. controls the remaining shares. Management fee to be charged by Rampver Financials will not exceed one-eight of one percent per month or 1.5 percent annually of the average net value of the bond fund’s assets.

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