Mobile wallet company GCash recently partnered with the Bank of the Philippine Islands (BPI) to expand its retail offerings and offer customers more opportunities to grow their funds.
This follows the mobile wallet service's move to enable Filipinos to access retail investment opportunities starting at PHP 50 via GInvest, the app's investment marketplace.
Through its partnership with Bank of the Philippine Islands, GCash has added two new investment products of BPI Investment Management Inc.'s (BIMI) in GInvest, namely:
- ALFM Global Multi-Asset Income Fund (GMAIF)
- Philippine Stock Index Fund (PSIF)
Customers can begin investing in ALFM GMAIF for as low as PHP 1,000, a US dollar-denominated feeder fund that delivers a stable stream of dividends and generates long-term capital growth.
According to GCash, ALFM GMAIF of BPI presents a sound financial option given that it invests at least 90% of its assets into a single collective scheme, with investments including fixed income and equities. American multinational investment management corporation BlackRock, Inc. manages the funds.
ALFM's top holdings include international companies such as Citigroup, Sanofi, JP Morgan, and Taiwan Semiconductor Manufacturing, as well as high-yielding fixed-income securities.
Besides the ALFM Global Multi-Asset Income Fund, GInvest customers can place a buy order for as low as PHP 50 in the Philippine Stock Index Fund, which tracks the performance of the Philippine Stock Exchange index.
Philippine Stock Index Fund's top holdings include SM, Ayala, and BDO.
Both BIMI funds, ALFM GMAIF and PSIF are suitable for investors with aggressive risk appetites and have a five-year investment horizon.
"We are grateful for this partnership with BPI as we look forward to more collaboration between fintech and financial institutions moving forward," said GCash president and CEO Martha Sazon.
Moreover, GCash has an existing partnership with ATR Asset Management Group (ATRAM), which manages some of the country's best-performing funds, including mutual funds, trust assets, insurance portfolios, and real estate, for both proprietary and third-party clients.
Banks and several Electronic Money Issuers (EMIs) have regarded GCash as a valuable partner in expanding their retail investment offerings, demonstrating the fintech company's trust among local financial institutions.
These new funds bring GInvest's fund offerings to seven, along with the following:
- ATRAM Peso Money Market Fund
- ATRAM Total Return Peso Bond Fund
- ATRAM Philippine Equity Smart Index Fund
- ATRAM Global Technology Feeder Fund
- ATRAM Global Consumer Trends Feeder Fund
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GInvest by GCash is one of the financial technology companies that offer low investment buy-ins due to its affordable rates of PHP 50 for local funds and PHP 1,000 for international funds.
