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Komfie Manalo, Opalesque Asia: With the country's outstanding fund management industry at $54bn and growing, the Philippine market and its investors are ready to invest in "more sophisticated" asset management products, like hedge funds and alternative investments, said Deanno J. Basas, president of the Fund Management Association of the Philippines and Managing Director at ATR Asset Management (ATRAM).
"Despite the relatively limited products that the private fund and trust management space in the Philippines are offering, the industry has continued to grow, and there is still too much potential for expansion. I believe that we can offer more products to our clients and hedge funds and alternative space are possible growth horizons," Basas said.
Basas made the statement in light of reports that some Philippine-based fund managers are referring their high net-worth clients to seek offshore funds to allocate their funds because of the limited product offerings in Manila.
There are three general types of trust funds available in the Philippines where investors can allocate their funds. These are equity, bond and money market funds that are available in peso or US dollar. Fund managers invest equity funds in stocks and offer the highest possible returns, but it is also the riskiest and most volatile amongst the three funds. Bonds funds invest in government bonds and treasury notes as well as corporate securities, while money market is the safest but offer the ...................... To view our full article Click here
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