Mutual Funds are one of the best investments a potential investor can dive in if he/she lacks the ability or time or both to monitor and study the seemingly complicated world of stock market investing.
The good news is, investment application for mutual fund investing is very easy – well, that is if you are based here in the Philippines. It’s another story for those outside the Philippines.
I’m based in Dubai, Saudi Arabia, Singapore, America, and other parts of the world, how can I start my mutual fund investing adventure?
Potential clients always asks me how investing in mutual funds can work for them since they are out of the country, and will be returning back not so soon. Good thing, I’ve set up the Live Chat Feature (you can find at the lower right corner of our website), I was able to have some chitchat with them, and was able to provide them some enlightenment. Said enough, I though of creating this article to further give the details on how that can be done.
The Truth: OFWs Guide to Mutual Fund Investing in the Philippines
- Identify what Mutual Fund you need. There are only a few active Mutual Funds here in the Philippines– 46 as of this date of writing. These mutual funds basically falls into four categories – Equity, Bond, Balanced and Money Market Funds.I have published a matrix wherein you can compare funds managed by FAMI, PAMI, and PEMI. You may used it as a tool for your assessment. You can find it here.As a recommendation, I advise our clients to invest in mutual fund companies that accepts additional investments via internet banking. Please check the payment options page to see what banks the Mutual Fund companies are using.
- Download and fill-up the required forms.For all of the Mutual Fund Management Companies MFPis affiliated in, you can view the requirements and download the forms here:
- Submit the RequirementsAll documents for initial investment application should be submitted to the mutual fund companies, or to us (for funds managed by PAMI, PEMI, and FAMI). Well, this could really seem to be a challenge for OFWs. Is it? Here are the options:If you have a relative, a friend, or anyone you know who will be going back to the Philippines soon, you may opt to ask them a favor of carrying the documents with them, and deliver everything in the mutual fund company’s office, or ours, whichever is applicable.Or, you may sacrifice a little cost by asking a courier like DHL, Fedex, etc.. and deliver the documents to the mutual fund company’s address. Need not to worry, you’ll only have to do this once. For the succeeding investments, a scanned copy of documents is enough.
This is how your investing strategy will work. You’ll be selecting a mutual fund company where you can transact via internet banking. Then, you’ll complete all the requirements and submit everything here in the Philippines – Â to whatever option that you seemed fit. Then voila, once your application is accepted, it’ll take at most, one business day before your account is created.
In cases where you would want to make additional investments, you can always use the internet banking service of your bank and pay or make fund transfers to the account of the mutual fund company.
If this article does not completely clarify your concerns, please drop a comment, or shoot us an email.
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