PAMI assets rise 18% in June

MANILA, Philippines - Philam Asset Management Inc. (PAMI) has reported an 18-percent growth in assets under management (AUM), or investments from the public, placed in nine mutual funds.

PAMI is the fund manager of mutual funds or “pooled” funds for the savings of individuals and institutional investors.

It is a subsidiary of the Philippine American Life and General Insurance Co. (Philam Life).

From total assets worth P18.6 billion recorded at the end of 2011, it ballooned to a little over P22 billion end June this year.

It is the third largest fund manager in terms of total AUMs among the 11-players in the country’s fledgling mutual fund industry.

 Total accounts, both individual and institutional, reached 42,615 higher than the 41,204 end 2011.

 As expected, investments in equity-based earning funds registered strong growth followed by fixed income or bond funds.

Slight decline was however noticed in foreign-currency based investments reflecting the weakening global economy, versus the Philippine and Asian economies.

The Philam Strategic Growth Fund (PSGF) expanded by a whopping 48.4 percent to P7.41 billion end June this year from P4.99 billion end 2011. The fund is invested solely in the equity or securities market.

The Philam Fund zoomed 24.4 percent from P3.6 billion in 2011 to P4.48 billion this June. It is also known as the balanced fund, meaning more than 60 percent of the fund are placed in the equity market and the balance in fixed income instruments.

The GSIS Managed Fund hit P1.46 billion from P1.28 billion end 2011, up 14 percent.

The Philam Bond Fund reached P4.23 billion end June from P4.19 billion in 2011, up nearly a percentage point. The Philam Dollar Bond Fund slipped to P3.1 billion this year from P3.21 billion.

The newly-formed Pami Asia Balanced Fund grew by 11.4 percent to P544 million this year, from P488 million in 2011. The NCM Mutual Fund of the Philippines likewise inched up by nearly two percent to P54 million.

 The PAMI Global Bond Fund fell nine percent to P119 million from P131 million, while the Philam Managed Income Fund likewise slipped three percent to P33 million.

Mutual funds are pooled funds from savings and investments of individuals and institutional investors.

These investors buy shares of the mutual fund and become shareholders of the fund. Investors buy and sell shares of the fund based on the prevailing net asset value per share (NAVPS).