May 22, 2023May 22, 2023

BPI Wealth to manage SSS investment funds

Posted By: investingsignal

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© Provided by The Manila Times

THE Social Security System (SSS) has tapped BPI Wealth, the asset and wealth management arm of the Bank of the Philippine Islands, to manage P2.5 billion in investment funds after a rigorous four-month bidding process.

In a statement, SSS expressed confidence that BPI Wealth was the right partner in managing the pension fund’s investment portfolio given a track record of success and commitment to excellence.

BPI Wealth president and CEO Maria Theresa Marcial said the company was honored to be chosen by SSS as one of its partners.

“Amid the most challenging markets in recent years, this new mandate proves that despite market volatility, we have delivered on our commitment to achieve target returns, provide superior service, and offer expert advice,” Marcial added.

SSS pension loan releases in 2022 almost doubled from the P3.08 billion recorded in 2021.

From January to December 2022, the SSS disbursed a monthly average of P495.77 million in pension loans benefitting 10,660 retiree-pensioners, 93 percent higher than its corresponding monthly average in 2021 of P257.01 million to 5,753 retiree-pensioners.

BPI Wealth, meanwhile, was recently awarded Best Asset Manager in the Philippines for the seventh consecutive year by the International Finance Awards in 2022 based on its outstanding performance, leadership, and innovation in asset management.

The International Finance Awards recognize and celebrate excellence across the global finance industry. The awards program evaluates companies based on their performance in terms of net profit, assets raised, new funds launched, investor benefits, fund impact, profitability, and quality of market research.

BPI Wealth is regulated by the Bangko Sentral ng Pilipinas.

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