Millennials in the Philippines only need ₱100 and a selfie to invest. Thanks to Sun Life Asset Management Company, Inc., the fund manager and principal distributor of the Sun Life Prosperity Funds, the collective term for all the required operational services for the family of mutual funds.
A whole owned Sun Life of Canada (Philippines), Inc. subsidiary, the SLAMCI is the adviser and administrator that provides management and the Sun Life Prosperity Funds. It held an open forum on December 6, 2019 at the Discovery Primea in Makati City, Metro Manila, Philippines, which was attended by Conan Daily.
The speakers during the event were SLAMCI president Valerie N. Pama, Sun Life Philippines chief investments officer Michael D. Enriquez and SLAMCI agency, bank and alternative channels distribution head Gerald L. Bautista. They explained how ₱100 and a selfie are enough to start investing.
According to Bautista, it is not a promo per se. They just lowered down the price point, which used to be ₱1000.
“Now, (for) as low as ₱100, we can now start putting money in mutual funds,” Bautista said. He added that it is now cheaper and more accessible to people who have extra money that they want to start investing in funds.
“We want it more accessible, cheaper and at the same time (help first-time investors) to start having that first step to put their money, to diversify their money especially in assets that are being manged by a reputable company,” Baustista said. Lowering the price point, he added, would also rectify the notion that investing is only for sophisticated and high network clients.
“For ₱100, you can now start engaging with Sun Life, have a professional fund manager to manage your portfolio,” Bautista shared. He said the ₱100 investment is available only for the Money Market Fund, the fund that has no volatility since it is only for liquidity purposes or alternative to bank products, but for those who want to put money in stocks, the minimum is ₱1000.
Tailored for the millennials who are used to all things digital, the SLAMCI launched two online portals namely My Sun Life Client Portal and Sunlife.com.ph. This makes it very easy for first-time investors to choose the kind of funds they want to start with.
Recommended to first timers is the Sun Life Prosperity Peso Funds. Under the Money Market Fund, millennials can start investing with just ₱100 and a selfie.
Aside from these, it is necessary to have a valid ID as well as TIN and SSS. As of now, bank payments are made through BDO, BPI, Landbank, Metrobank and Security Bank only.
Here is Conan Daily’s full interview with Bautista:
CONAN Daily 