BDO’s trust unit posts P1-t assets

The Trust Group of BDO Unibank Inc., the largest lender in the country controlled by the Sy family, said Tuesday it achieved the P1-trillion mark in assets under management on the back of the strong performance of its unit investment trust fund business.

AUM is the total market value of the securities a financial institution manages on behalf of its clients.

Rafael Ayuste Jr., BDO senior vice president and trust officer, said the bank’s UITF business grew by close to 35 percent as of end-September as clients flocked to the product due to its ready availability for both subscriptions and redemptions and the ease of access through the branches and online.

“The clients see and appreciate the opportunities that the current market presents which will potentially result to significant growth in their investment returns as the market recovers,” he said.

BDO Trust offers various peso- and dollar-denominated UITFs intended to meet the diverse objectives and risk appetites of investors in terms of growing their portfolio earnings.