Retail funds look set to provide faster asset growth than institutional business, says the head of Manila-based BPI Asset Management, which is about to launch a funds trading platform.
Big banks managing bond funds are the rule. New entrants, new products and a new pension system have the potential to galvanise this sleepy industry.
Theresa Marcial Javier expects the Philippine fund house's AUM to grow by 10-15% annually in the next two years.
Philippine American Life and General Insurance Company is to acquire a 51% stake in Ayala Life Assurance, the life insurance subsidiary of Bank of the Philippine Islands.