PSBank launches UITF

MANILA, Philippines - The Philippine Savings Bank (PSBank) has launched the PSBank Money Market Fund, its first unit investment trust fund (UITF) to provide customers an affordable, prudent and liquid investment option.

PSBank  is the thrift bank arm of Metrobank Group.

With a minimum initial amount of P10,000, interested customers can already invest in the PSBank Money Market Fund, a pool of individual and institutional funds.

PSBank’s professional investment team will manage the UITF, and choose from among different low-risk financial instruments.

PSBank Money Market Fund is ideal for first-time investors and also for retirees looking for alternative ways to grow their nest egg. These are low-risk investments, which provide higher returns than time deposit or regular savings accounts.

This investment option also offers flexibility as it allows investors to easily access their funds and its earnings any time after the minimum 30-day holding period without any charges or penalties. It also offers convenience since interested investors need not administer or manage the funds themselves.

The PSBank Money Market Fund is a milestone product for PSBank, completing the bank’s portfolio of financial products – from savings, deposits and loans to investments suitable for all Filipinos in the different stages of their lives.

A UITF is not a bank deposit product, thus, it is not guaranteed by the bank and is not insured by the Philippine Deposit Insurance Co. (PDIC). The assets of the UITF are valued based on the prevailing market price.

Bank officials said that there is a possibility of incurring losses in the UITF if the client withdraws in a scenario of generally declining market prices. Clients may, however, opt to defer their withdrawals until market conditions become more favorable.