- What are the investment choices for the Voluntary Investment Program (VIP)?
You may set scheduled investments for the First Metro Exchange Traded Fund (FMETF) or for any FundsMart mutual fund or unit investment trust fund (UITF). Available funds and corresponding minimum initial investment amounts can be found HERE.
- What is the minimum VIP amount?
The minimum is P1,500 per debiting date.
- What is the maximum VIP amount?
No maximum amount, but has to be in increments of P500.
- Is there a maximum duration?
No minimum or maximum duration. Your VIP will continue until amended or cancelled. Note that some mutual funds and UITFs have a minimum holding period and may be subject to an early redemption fee.
- What is Debiting Date vs. Investment Date?
Ensure that you have enough cash in your account on the debiting date, which is either 15th or 30th day of the month. Tip: set your auto-funding schedule with your bank at least one day before this date. Your buy order will be posted on the next trading day – the investment date.
- How do I auto-fund my buying power?
Enroll First Metro Securities Brokerage Corp. as biller through your online banking account with Metrobank, BDO, BPI, Maybank, Security Bank, or Unionbank using the Regular/Scheduled/Recurring Transactions option. Make sure to schedule your auto-funding at least one day before the 15th or 30th day of the month to avoid possible delays. For details, click HERE.
- At what price is my VIP executed?
For FMETF, at closing price. For mutual funds and UTIFs, based on the day’s Net Asset Value Per Share/Unit (NAVPS/U).
- What happens if the final cost is below or above my set amount?
If the final cost is less than the VIP amount (ex. total is P1,450 for a P1,500 order), the excess amount (P50) will be credited back to your buying power. Similarly, if the minimum board lot increases to more than your ordered amount, your order will not be posted. In such cases, increase your VIP subscription amount by submitting a VIP Amendment Form online. Click HERE how.
- Are there other fees/charges?
For FMETF, regular broker fees (0.25% or P20, whichever is higher) and other charges (PSE fee and VAT) apply. For mutual funds and UITFs, none.
- Are there penalties if I don’t have enough funds in my account?
No. Debiting will just skip to the next schedule.
- What if I want to change or cancel my VIP subscription?
Submit a VIP Amendment Form to supersede your previous VIP arrangement HERE. Enter your registered email address, choose “VIP Amendment” or “VIP Cancellation”, enter your full name and FirstMetroSec account number. Select Products and Services > VIP as Area of Concern.