Prudentialife fund hits P11B

The trust fund of Prudentialife Plans Inc. (Prudentialife) reached P11 billion as of March 2004, or an increase of 15 percent from P9.5 billion in the same time last year. It contributed a total of P2.1 billion to the fund end March.

Prudentialife trust fund remains liquid with 65-percent invested in government securities (GS), another 18 percent in equities and a mere seven percent in real estate.

"Our investment policy is to carry a balance portfolio. We never invested heavily on equities and real estate. To date, the maximum investment in real investment is 25 percent and our investment is only seven percent. The maximum investment in equities is 25 percent and our investment in equities is only 18. Prudentialife had actually carried a balance portfolio even before the SEC (Securities and Exchange Commission) came out with the new rules," Prudentialife president Jose Alberto T. Alba said.

Based on the data of SEC, Prudentialife remains the number one life plan company from January-April 2004 with a total sales valued at P293.1 million capturing a market share of 31.36 percent.

It ranked second in the pension plan category with P988.8- million sales with a 15.8-percent market share and third in the education plan category with P616.5 million sales or 14.78-percent market share.

Prudentialife stands a strong second in consolidated sales with a total of P1.4-billion sales or a 16.71-percent market share in the pre-need industry for the said period.

Alba projects sales to grow by 20 percent with the introduction of new products, alternative marketing channels, and the general improvement in the economy.

"The challenge now is how we can make our products and services work to building the future of planholders and how Prudentialife can bring them to more families in the country," he added.