BPI Investment Management Inc., a wholly-owned subsidiary of Bank of the Philippine Islands, said Friday it breached the P200-billion mark in total assets under management by the first week of February.
BIMI said in a statement total assets under management reached over P202 billion in early February.
BIMI president Martin Enrile said 2020 was a landmark year as it nearly doubled its business amid the pandemic with a 96-percent growth.
This was due to the assumption of the PAMI Mutual Funds from Philam Asset Management Inc. in January 2020 and strong inflows from retail investors.
“Our long history of prudent fund management has allowed BIMI to grow its retail business by 24 percent. BIMI’s solid performance amidst market volatility and economic uncertainty due to the COVID-19 pandemic is a testimony to our hard-earned reputation of providing stable investment outlets under various market conditions,” said Enrile.
BIMI cements its market leadership as the largest mutual fund management company in the Philippines, growing from 35-percent market share in the mutual fund industry in 2019 to 54-percent market share as of end-2020.
“We look forward to the rest of 2021 with much optimism. As vaccines begin to find their way to the general population and consumer mobility goes back to pre-pandemic levels, we look forward to a gradual restoration of economic activity,” Enrile said.
He said backed by an institution that saw all kinds of crises in its 169-year history, BIMI was well-poised to take advantage of a more favorable investment environment with fortified sales resources, system upgrades, timely marketing activities and product launches suited to the rapidly changing needs of the investing public.
BPI is the financial arm of Ayala Corp., one of the country’s largest and oldest conglomerates.