To further broaden its retail investment offerings, GCash recently teamed up with Bank of the Philippine Islands (BPI), one of the biggest banks in the country, to bring more opportunities for users to grow their funds.
“We are grateful for this
partnership with BPI and excited for more partnerships to come between fintech
and financial institutions. We are hoping this can help us broaden investment
opportunities for Filipinos. By democratizing our products and making it more
affordable and easier to understand, we can change the mindset that financial
services such as investment funds and products are only for the wealthy,” said
Martha Sazon, President and CEO of GCash.
Through
this partnership with BPI, GCash now gives its users the opportunity to invest
in BPI Investment Management Inc.’s (BIMI) ALFM Global Multi-Asset Income Fund
(GMAIF) and the Philippine Stock Index Fund under GInvest. With this, users of
GInvest can start investing for as low as P1,000 in ALFM GMAIF, a US
dollar-denominated feeder fund that invests at least 90 percent of its assets
into a single collective scheme, with investments including fixed income and
equities to provide stable stream of dividends and generate long term capital
growth. The funds are in turn managed by BlackRock, Inc., the world’s largest
asset manager and one of the leading asset managers globally. Top holdings of
ALFM include international companies such as Citigroup, Sanofi, JP Morgan, and
Taiwan Semiconductor Manufacturing, and high yielding fixed income securities,
among others.
Aside
from the ALFM Global Multi-Asset Income Fund, GInvest users can also place a
buy order for as low as P50 in the Philippine Stock Index Fund which tracks the
performance of the Philippine Stock Exchange index. Its top holdings include
SM, Ayala, and BDO. Both BIMI funds are suitable for investors with aggressive
risk appetites and have a five-year investment horizon.
Banks
and other Electronic Money Issuers (EMIs) have been looking at GCash in
expanding their retail investment offerings, and is a good indication of the
trust placed by local financial institutions in the fintech company.
“The
value of fintech is being realized in retail finance; GCash is here to support
financial institutions in expanding their offerings digitally through the 51
million Filipinos that use our app,” added Sazon.
These
latest funds bring GInvest’s fund offerings to seven investment offerings along
with Money Market Fund, the Philippine Total Return Bond Fund, the Philippine
Smart Equity Index Fund, the Global Technology Feeder Fund, and the Global
Consumer Trends Fund. These affordable rates of P50 for local funds and P1,000
for international funds make GInvest by GCash one of the financial technology
companies to offer low investment buy-ins.
These expanded investment
opportunities have given ‘unbanked’ Filipinos access to financial opportunities
previously unavailable to them and brought GCash closer to its goal of
achieving financial inclusion for all Filipinos.
For more information, visit www.gcash.com.
About GCash
GCash (G-Xchange, Inc.) is the #1 Financial App in the Philippines. Through the GCash App, customers can easily purchase prepaid airtime; pay bills at over 1k partner billers; send and receive money anywhere in the Philippines, even to other bank accounts; purchase from over 3.9M partner merchants and social sellers; cash-in and cash-out at over 94k partner agents; and get access to savings, credit, insurance and invest money all at the convenience of their smartphones. GCash is a wholly-owned subsidiary of Mynt (Globe Fintech Innovations, Inc.). GCash was recognized by The Asian Banker (TAB) and by the IDC in 2021 for its outstanding digital financial inclusion programs impacting more than 51 million Filipinos in the country today.
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