[Fan Voice] Personal Experiences on Transacting with Mutual Fund Companies

As Mutual Fund PH continuously grow, we were able to give light to several Pinoy’s already, here and abroad, on matters related to, not only on Mutual Funds, but to investing in the Stock Market in general.

That’s my pride of being a blogger – that I have been helping you guys, one way or another. Please keep me [much more] busy by answering your questions. I love it! :)

And as our Facebook Page community continuous to grow, with 1,700+ fans as of  date of writing, we were able to slowly build a community who does not only “like” our daily status updates, but also make a great effort to share their experiences, insights, and opinions. Through these sharing and conversations, we were able to enlighten people, especially those who are new in the field of investing. With that, Kudos to everyone!

To provide more exposure to the insights of those who continue sharing their thoughts, I have decided to create a category to preserve the meaningful conversations in our Facebook Page. Let’s start with this status update question posted last February 01, 2013:

The Question:

Anyone here who have personal experiences with mutual funds other than FAMI? How’s the application process? The monitoring? Additional Investments and Redemption?

The Responses:

Alvin Xtian Nucum We have mutual funds with PAMI and PEMI.The application process with PAMI was facilitated by a friend since high school days over lunch.Haven’t really checked it as regular as our stocks.With PEMI, we went to their office at PSE Centre in Ortigas and we were assisted in reasonable time.They email the quarterly statement of account

Malene Palaje Also PhilEquity send softcopy for confirmation for every addtl investment and monthly statement of account thru email

Mutual Fund Philippines Was exploring PAMI’s website and found that there’s an option there where investors can monitor their funds online. Any experience on this?

Malene Palaje I haven’t got any feedback on that yet.submitted my forms last week of december to PAMI

Mutual Fund Philippines Whew! Tagal n nun ah. I’m curious how will that make investing convenient for their investors

Malene Palaje Thats why I find PhilEquity for monitoring easier because the moment they receive the payment they will send you confirmation at least you can put it in your excel file you have updated snapshot

Malene Palaje Though FAMI bills payment thru internet banking facility is good but request for SOA takes time. What I do for FAMI if i booked it before lunch i will use the navps calculated at the end of that trading day and if beyond 12nn the next day’s trading navps

Cristina Redulla Melencion My husband and our friends have funds with PAMI.. Yup, we could check our account online and processing of application was quick

Gerard Carim Need to mention here for the information of your OFW followers – Philequity requires personal appearance for account opening, or at least they wanna see your face moving in real time. In my case, I requested to schedule a Skype video conference, which will actually happen few hours from now

Mutual Fund Philippines Thanks Gerard for the tip. I didn’t know such security measure exist. Last time I assisted an OFW for Philequity, docs Lang, ok n.. How about confirmation letters, were they delivered in a timely manner?

Mutual Fund Philippines Oops, missed n mamaya palang pala ung conference m with them. let us know how it goes

Feanne Hontiveros Mauricio With BPI just go to the bank to apply for the investment account. If you already have a BPI Savings Account + you’re enrolled in their online banking, it’s easy to manage your investments online (subscribe, redeem, etc.) and also fund it with your existing savings account. I guess it’s the same with other big banks

Feanne Hontiveros Mauricio BPI will also mail your statements but I’ve opted out of all mailed documents, I receive these in my email. Save paper

Nepo Leano good morning Feanne, what is the mutual fund you are referring to where your investment is coursed through BPI? I wanted also to have my investment made thru BPI for convenience cause I am too busy. Or, I mean UITF?

Denne Kristo Bernardez With regards to OFWs, FAMI services is in the Dark Ages, while PEMI is innovative and fast!

Mutual Fund Philippines Hi Denne, could you elaborate on that further?

De Leon Julie Ann i hope fami can send me a monthly report on my stocks. Coz i have to email them first if i wanted to know my stock progress

Denne Kristo Bernardez I decided to invest (at the same time and same methods) w/ both FAMI&PEMI this year & this is wht happened:
PEMI: initial investment – remittance credited to their Bancodeoro accnt on Jan2, they received my original docs send by courier on Jan15, we had Skype on Jan16, by Jan17 it was booked:)
Additional investment – remittance credited to their bank accnt on Jan29, same day I emailed my docs,by Jan31 it was booked

FAMI – original investment credited to their Metrobank account on Jan2, they should have received my original docs by Jan15 (same procedure used w/ PEMI), but after one long distance call & a lot of anxious email follow-ups from me, they couldn’t even confirm that they already received my original docs!!! They are asking me to be patient coz they have some problems w/ remittances and it could take a month ( they could not give an exact date)..atleast they are promising that my investment will be booked retroactively. U could just imagine how frustrating it is to wait this long for just ONE transaction

Mutual Fund Philippines On the comments above, Gerard mentioned also the conference with PEMI for personal appearance through Skype, where you oriented why the need for that procedure?

Good to know PEMI worked well. On recap, what you did was sent the documents through carrier, then made remittance for your initial investment. I guess you made the remittance through Western Union, I think they are affiliated.

For FAMI, well, it’s the second time I heard that kind of story. Does having a broker helps? Sa mga nagpaassist naman sakin whom I referred to a broker, Di naman sila nka experience ng ganun. Probably a case to case experience.

Until now Hindi p din credited investment m?

Denne Kristo Bernardez Ur recap was correct except that the Remittance WAS not made through western union, bank to bank po un.yup until now hndi pa din booked ung investment, hndi pa nga nacoconfirm Kung natanggap na ung original docs ko. And I think it’s not a case to case to basis,lahat daw ng ngdedeposit through remittance ay ngkakaproblema…Hindi naman nila cnabi previously na ganun pala kc bago ko naman ginawa ung mga procedures, nag-inquire muna ako sa kanila through email Kung Ano gagawin

Feanne Hontiveros Mauricio @Nepo I chose BPI’s Equity Fund UITF but they have a range of mutual funds too, same procedure

Denne Kristo Bernardez On the lighter side, Pansin ko Lang po,parang Hindi nyo ma-accept ung Skype procedure? Lol! Well explained po ung procedure na yan through our email exchanges, kc nga they require personal appearance sa account opening,so Ung Skype is in lieu of that…& confident nmn tayong makipagskype kc may mukha nmn tayong ihaharap lol!

Mutual Fund Philippines Ahaha Hindi naman sa ganun. Panu yun, ipinakita m Lang mukha m tapos tiningnan kung parehas sa ID n isinubmit m? Just never thought n meron ganung klaseng procedure p pero mukhang naligayahan k naman sa nakita mo on the other end eh haha

Denne Kristo Bernardez Tama po kayo dyan,sympre naghahamon cila ng Skype so dapat LNG presentable ung ipakita nila otherwise Baka ilipat ko pa ung investment ko haha

Aside from that, vinavalidate din nila ung information na finil-upan dun sa application form..more or less its a 5-minute exercise

Angelo Dipasupil Dipasupil mron jan sa Makati sa my Tower One wlng quarterly report n pnadadala

Gerard Carim @Denne, 5 minutes lng Skype conference nyu? Hmm… I wonder why PEMI stretched mine for 20 minutes…

Regarding FAMI’s customer service, it’s been well documented that they suck at it. Luckily, they seemed to have allergies dealing with us OFWs coz they referred me to an affiliate broker, RSA. So far, communication has been smooth sailing..

And about ur docs sent thru a courier, did u use post office? Bagal kc. Sakin DHL, they received it in 2 days, from middle east

 

Do you have any experiences that you want to share regarding this topic? Please let us know by using the comment form below :)

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