EPCI Bank launches new trust products

Equitable PCI Bank launched recently new trust products generically known as unit investment trust funds or UITFs.

These are the GS Fund, EPCIB US Dollar Fund and EPCIB Equity Fund whcih reportedly produced superior returns in their first month of operation.

"The market response to our latest offerings has been positive and we are delighted to be able to reward investors trust with a strong opening month performance. This will serve to increase our strong momentum in attracting clients to the funds," Marvin V. Fausto, Equitable senior vice president and head of trust banking, said in a press statement.

"We expect to achieve as much success with the new products as we did with the traditional products, in terms of both generating outstanding returns and growing the asset base," he added.

The Bangko Sentral ng Pilipinas has put the marketing of common trust funds (CTFs) to a halt. It is believed that shifting to UITF will align Philippine practices in operating pooled funds with global best practices.

Like CTFs and mutual funds, UITFs are pooled trust funds that are managed by a trust entity and made available to the public by participation, providing investors the benefit of economies of scale and expertise of professional fund management.

Fausto credits the performance of its new pooled funds to his team’s rigorous research and strict discipline in risk allocation.

"Essential to these excellent fund performances are the research models and risk management policies that are currently in place," he said.

Separately, its CTF called Equity Portfolio Fund outpaced the Phisix with a sizzling 37.1 percent year-on-year return for 2004.