MANILA, Philippines - Leading online stockbroker COL Financial Group Inc. will soon be offering PhilEquity Management Inc. (PEMI) mutual funds, the firm told the local bourse yesterday.
In a disclosure, COL said it has signed an agreement with PEMI to distribute shares of Philequity Fund Inc., Philequity PSE Index Fund Inc., Philequity Dividend Yield Fund Inc., Philequity Peso Bond Fund Inc. and Philequity Dollar Income Fund Inc.
COL said the agreement is still subject to the Securities and Exchange Commission’s approval of its application for amendment of mutual fund distributor license.
PEMI is an investment management company established in 1993. It is the investment manager and principal distributor of PhilEquity Fund, one of the Philippines’ best performing equity mutual funds.
COL in August has also inked a partnership with Philam Asset Management Inc. to offer the latter’s mutual funds through its online distribution platform.
COL is currently developing an online platform in which clients can start accessing various professionally managed funds through its website.
Expected to start before the year ends, the online platform is seen to encourage more Filipinos to invest as buying funds will become more convenient.
As of end-June, the listed brokerage firm reported that its client base already stood at 96,430 while also maintaining its position as the market leader in terms of volume of transactions in the Philippine Stock Exchange with a share of 28.5 percent.