GCash, the country’s largest mobile e-wallet service, said Monday it teamed up with BPI Management to expand investment opportunities under its GInvest products.
GCash said it makes affordable and accessible to invest in BPI investment funds through BPI Investment Management Inc.’s ALFM Global Multi-Asset Income Fund and the Philippine Stock Index Fund under GInvest.
Users of GInvest can start investing with as low as P1,000 in the ALFM Global Multi-Asset Income Fund, a US dollar-denominated feeder fund whose target fund is managed by the world’s largest asset managers, BlackRock.
The fund has historically provided dividends monthly while also generating long-term capital growth.
Being a feeder fund, it will invest at least 90 percent of its assets into a single collective scheme. It invests globally in the full spectrum of permitted investments including equities, equity-related securities to guarantee dividends to the investor.
GInvest users can place a buy order for as low as P50 in the Philippine Stock Index Fund. It aims to track the performance of the Philippine Stock Exchange Index, which is composed of the top 30 largest and most traded companies in the country.
Both funds are appropriate for investors that are at least rated as aggressive by their risk profile and have a five-year investment horizon.
Through these new BIMI funds, GInvest investors can further diversify their portfolios. With this addition, there are now seven funds on the GInvest platform with an option for every kind of investor.
These include ATRAM managed funds (Money Market Fund, Philippine Total Return Bond Fund, Philippine Smart Equity Index Fund, Global Technology Feeder Fund, Global Consumer Trends Fund) and BPI managed funds (ALFM Global Multi-Asset Income Fund and the Philippine Stock Index Fund).
GInvest helped the mobile wallet gain 70 percent of the home market for total UITF accounts in six months.