Why are my subscriptions to ALFM Phil Stock Index Fund and PAMI Equity Index Fund not processed?
As advised by BPI Investment Management, new and/or additional shares subscription in the ALFM Philippine Stock Index Fund (BPIPHID) and PAMI Equity Index Fund (PEIF) will no longer be available beginning January 1, 2022.
How long does it take to get my buying power back for the unprocessed subscription?
The subscribed amount will be returned to your buying power based on the time of subscription, as follows:
|
Time of Subscription |
Returned to Buying Power |
|
8:30AM-11:00 AM |
30 mins after subscription |
|
11:01AM-5:00PM |
On or before 6PM |
|
5:01PM onwards |
On or before 9AM of the following business day |
What will happen to my existing investments?
Your existing investment will remain intact and can be redeemed at any time. Early redemption fee is waived.
For instructions on how to redeem, click HERE.
How to invest in the equity index fund managed by BPI Investment Management?
You may invest in the ALFM Philippine Stock Index Fund – Units under the new fund code ALFMPSIF, which will be available on FundsMart soon. It is basically the same fund but subscriptions will be for units of participation (“Units”) instead of shares of stock (“Shares”).
What is the difference between Units and Shares?
Units and shares both represent ownership in ALFMPSIF. Both Shares and Units will follow the same investment objective of tracking the performance of the Philippine Stock Exchange Composite Index and will have the same investment strategy.
However, issuing units instead of shares allows investors of ALFM to subscribe to fractional units rather than whole shares. This means you will be able to invest based on a peso amount you want rather than the price of a whole share.
Will there be any difference in the transaction process?
None, just look for ALFMPSIF to subscribe and/or redeem like other funds.