PNB trust assets up 82% to P55.6B

MANILA, Philippines - The trust assets under management (AUM) of the Philippine National Bank (PNB) grew by 82 percent, or from P30.5 billion in 2010 to P55.6 billion due to improved volumes for corporate and personal accounts. 

Total corporate trust funds stood at P23.86 billion, up 185 percent from its year ago level of P8.34 billion. Personal accounts on the other hand are up 103 percent ending at P13.9 billion.

PNB trust officer and first senior vice president Rafael G. Ayuste Jr., the strong performance is due to its unique product offerings. 

“We wanted to create a value proposition that is different from the available products in the market,” Ayuste said.

PNB’s roster of products includes the retail unit investment trust funds (UITF), two of which have delivered top performances in 2011. 

The Mabuhay Prestige Fund, a balanced fund, consistently topped 14 other funds in its class for 45 consecutive weeks in terms of year-on-year absolute returns. Its average year-on-year returns since inception was seven percent.

The peso money market fund, Mabuhay Prime, performed an average year-on-year return of three percent in 2011. 

Last year, PNB introduced its branded employee benefit trust product called the PNB Employee Enrichment Solutions (EES). The product approaches employee benefits from the standpoint of addressing human resource issues in terms of talent attraction, retention and loyalty. 

It delivered 14 retirement funds last year versus a normal gestation for such accounts from one to three years.

Personal trust accounts have likewise improved creditably due to its unwavering commitment to providing products that meet clients’ return objectives as well as their long-term financial goals.