Tuesday, June 28, 2022
manilastandard.net
ADVERTISEMENT
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Others
    • Pets
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Technology
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • MS ON THE ROAD
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Gallery
      • Photos
      • Videos
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
  • Advertise with Us
No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Others
    • Pets
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Technology
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • MS ON THE ROAD
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Gallery
      • Photos
      • Videos
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
  • Advertise with Us
No Result
View All Result
manilastandard.net
No Result
View All Result
Home Business Money

BSP widens distribution of trust funds

Julito G. RadabyJulito G. Rada
September 23, 2020, 8:40 pm
in Money
Reading Time: 2 mins read
A A
72
SHARES
Share on FacebookShare on TwitterShare on Email

The Monetary Board, the policy-making body of the Bangko Sentral ng Pilipinas, expanded the distribution channels of trust corporations for unit investment trust funds to further develop the capital markets.

UITFs are ready-made investments that allow the pooling of funds from different investors with similar investment objectives. These funds are managed by professional managers and are invested in several financial instruments, such as money market securities, bonds and equities which offer higher return than traditional bank deposit products.

BSP Governor Benjamin Diokno said Wednesday the board approved the guidelines that allow trust corporations to distribute their UITFs through third parties, specifically individual and institutional agents.

Diokno said this was in support of the BSP’s advocacy to promote financial inclusion by broadening access points to innovative financial products and services.

“Through this policy, agents are expected to bring products closer to investors. At the same time, it is an opportunity for the industry to grow assets under management through partnerships with distributors,” he said.

ADVERTISEMENT

“More products in the market will also bode well for capital market development,” Diokno said.

Trust corporations distribute UITFs through their main offices. The rules therefore provide other channels that may be used by trust corporations to offer their products.

Diokno said third-party providers should abide by stringent qualification standards to qualify as distributors.

Individual agents and employees of institutional agents are required to meet the qualifications for UITF marketing personnel in existing regulations while institutional agents should be reputable and duly licensed by appropriate regulatory agencies to distribute financial products.

The provisions in the forthcoming policy are anchored on the governance mechanisms and due diligence requirements under the existing outsourcing framework for BSP-supervised institutions.

“These ensure that TCs [trust corporations] will only tap entities that have a sound understanding of UITFs and are well-regulated and have the necessary infrastructure to distribute UITFs,” Diokno said.

He said this development was part of the set of reforms being undertaken by the Bangko Sentral to promote the growth of the trust industry.

The BSP is set to revamp the regulatory framework for trust, investment management and other fiduciary accounts by clearly laying out the expectations for the different activities performed by trust entities and streamlining regulatory requirements.

Tags: Bangko Sentral ng PilipinasBSP Governor Benjamin DioknoMonetary Boardtrust funds
ADVERTISEMENT
Julito G. Rada

Julito G. Rada

Related Posts

Peso rises to end eight-day slump

byJulito G. Rada
June 27, 2022, 9:25 pm
0
166
Peso climbs further to 48.625 vs. dollar

The peso briefly breached the 55-per-dollar level on Monday, but closed stronger to snap an eight-day depreciation since the US...

Read more

DOF asks committee to prevent ‘double-dipping’ of coco levy trust fund

byJulito G. Rada
June 26, 2022, 6:45 pm
0
187
An all-in-one wellness destination

Finance Secretary Carlos Dominguez III ordered the interagency Trust Fund Management Committee, which is tasked to oversee the utilization of...

Read more

Peso nears 55 to a dollar amid hawkish Fed signals

byJulito G. Rada
June 24, 2022, 9:30 pm
0
187
43-month low: Peso weakens further vs. dollar

The peso on Friday hit another 16-year low and nearly broke the 55-per-dollar barrier on hawkish signals from the US...

Read more

Monetary Board increases interest rate again to 2.5%

byJulito G. Rada
June 23, 2022, 9:20 pm
0
173
Policy rate kept at 2% in MB’s last meeting this year

The Monetary Board, the policy-making body of the Bangko Sentral ng Pilipinas, on Thursday raised for the second time this...

Read more

Peso falls further to 54.70:$1 on gradual BSP adjustment

byJulito G. Rada
June 23, 2022, 9:00 pm
0
174
Policy rate kept at 2% in MB’s last meeting this year

The peso neared the 55-per-dollar mark Thursday, the lowest in over 16 years, as the 25-basis-point adjustment in the Bangko...

Read more

Peso slumped to a 16-year low of 54.47 a dollar

byJulito G. Rada
June 22, 2022, 8:20 pm
0
191
Peso climbs further to 48.625 vs. dollar

The peso fell to its weakest level in more than sixteen-and-a-half years against the US dollar Wednesday, amid the possibility...

Read more

Stories you may like

  • Ex-Naga dad links Leni’s brother-in-law to illegal drugs

    Ex-Naga dad links Leni’s brother-in-law to illegal drugs

    36765 shares
    Share 14706 Tweet 9191
  • Of course, it was BBM’s project

    30882 shares
    Share 12353 Tweet 7721
  • INC endorses BBM, Sara

    28808 shares
    Share 11523 Tweet 7202
  • Duterte’s seven biggest achievements

    21988 shares
    Share 8795 Tweet 5497
  • Marcos leads SWS survey on presidentiables at 50%

    13583 shares
    Share 5433 Tweet 3396

Print Edition

View More

Recent Posts

  • Development, sustainability not mutually exclusive, say experts in Stratbase forum
  • Hong Kong’s history: From backwater to trading metropolis
  • Russia fails to pay debt but denies default
  • Serena returns at Wimbledon as Nadal eyes next leg of Slam
  • US delegation arrives in Venezuela to discuss ‘bilateral agenda’: Maduro
  • UN meet sees blitz of pledges to protect ailing oceans
  • Irving will opt into NBA deal and stay with Nets: report
  • Putin guarantees supply of fertilizers to Brazil

Advertisement

Latest News

UN meet sees blitz of pledges to protect ailing oceans

byAFP
June 28, 2022, 10:30 am
0
134
Southwoods nails Seniors’ Fil golf crown

A major UN conference on how to restore the faltering health of global oceans kicked off in Lisbon this week...

Read more

Irving will opt into NBA deal and stay with Nets: report

byAFP
June 28, 2022, 10:00 am
0
135
Irving will opt into NBA deal and stay with Nets: report

Brooklyn star guard Kyrie Irving says he will opt into a $37 million player contract option for next season to...

Read more

Putin guarantees supply of fertilizers to Brazil

byAFP
June 28, 2022, 9:30 am
0
132
Putin, Macron, Scholz discuss Ukraine arms, grain supplies

Russian President Vladimir Putin on Monday promised his Brazilian counterpart Jair Bolsonaro that Russia "is committed" to maintaining its delivery...

Read more

Nike profits dip on lower sales in North America, China

byAFP
June 28, 2022, 9:00 am
0
134
Nike profits dip on lower sales in North America, China

Lower sales in North America and China dented Nike's quarterly results as the sports giant on Monday projected modest revenue...

Read more

Pollution linked to 10% of cancer cases in Europe: report

byAFP
June 28, 2022, 8:30 am
0
131
Southwoods nails Seniors’ Fil golf crown

Pollution is linked to more than 10 percent of cancer cases in Europe, a report by the European Environment Agency...

Read more

Advertisement

ADVERTISEMENT
Facebook Twitter Instagram Youtube

ABOUT US

Manila Standard

Manila Standard website (manilastandard.net), launched in August 2002, extends the newspaper’s reach beyond its traditional readers and makes its brand of Philippine news and opinion available to a much wider and geographically diverse readership here and overseas.

Digital Edition

In tone and content, the online edition mirrors the editorial thrust of the newspaper. While hewing to the traditional precepts of fairness and objectivity, MS believes the news of the day need not be staid, overly long or dry. Stories are succinct, readable and written in a lively style that has become a hallmark of the newspaper.

Download – Today’s Paper

Search

No Result
View All Result

6th Floor Universal Re Bldg., 106 Paseo De Roxas cor. Perea Street, Legaspi Village, 1226 Makati City Philippines

Trunklines: 832-5554, 832-5556, 832-5558

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Pop.Life
    • Newsmakers
    • Hangouts
    • A-Pop
    • Post Its
    • Performances
    • Malls & Bazaars
    • Hobbies & Collections
  • Technology
    • Gadgets
    • Computers
    • Business
    • Tech Plus
  • MS ON THE ROAD
    • Sedan
    • SUV
    • Truck
    • Bike
    • Accessories
    • Motoring Plus
    • Commuter’s Corner
  • Home & Design
    • Residential
    • Commercial
    • Construction
    • Interior
  • Spotlight
  • Gallery
    • Photos
    • Videos
  • Events
    • Seminars
    • Exhibits
    • Community
  • Biyahero
    • Travel Features
    • Travel Reels
    • Travel Logs
  • Pets
  • Advertise with Us

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Install Manila Standard Web App

Install App