BDO Unibank Inc., the country largest lender controlled by tycoon Henry Sy, said it set a milestone when its consolidated trust assets under management hit the P1-trillion mark last year.
BDO said in a statement Friday it became the first Philippine financial institution to cross the threshold, as its AUM grew 12 percent from the 2015 level of P917 billion.
The AUM is shared between BDO’s Trust and Investments Group with P755 billion and the Wealth Advisory and Trust Group of subsidiary BDO Private Bank with P273 billion.
TIG is known for its retail investments products notably its family of unit investment trust fund and customized portfolios for individuals and corporations.
BDOPB, on the other hand, focuses on servicing the investment and estate planning needs of high net worth individuals using an open architecture framework.
“2016 was a banner year for BDO both for business growth and new product development in terms of trust assets,” BDO executive vice president and trust officer Ador Abrogena said.
BDO launched last year the BDO ESG Equity Fund which is invested in the stocks of local companies with consideration for good environmental, social and governance practices.
BDO Trust was awarded by The Asset Magazine the Impact Investor of the Year Award during the 2016 Triple A Asset Servicing, Investor and Fund Management Awards.
BDO also introduced the BDO US Equity Feeder Fund for clients who wish to invest in the US equities. This widens the choices of investors who are looking to invest in foreign markets and complements BDO’s current listing of feeder funds.
BDO became the country’s first accredited personal equity and retirement account administrator last year, after successfully hurdling the requirements of both Bangko Sentral ng Pilipinas and the Bureau of Internal Revenue.
Pera is a voluntary retirement account that is meant to supplement a Filipino’s social security or corporate pension benefits.