First Metro Asset Management Inc. or simply FAMI is a subsidiary company of Metrobank which manages the Save-and-Learn mutual funds. It was established back in 2005. Currently, FAMI has four types of mutual funds it manages: Save-and-Learn Equity Fund (SALEF), Save-and-Learn Balanced Fund (SALBF), Save-and-Learn Fixed Income Fund (SALFIF) and Save-and-Learn Money Market Fund (SALMF).
Each fund is different from the others in the way it is invested depending on what is stipulated in the mutual fund prospectus. Personally, I owned three types of FAMI mutual funds. I have SALEF, SALBF and SALFIF with varying number of bought shares.
Enrolling FAMI Account to Metrobank Direct
Metrobank Direct (MD) is the Internet banking service of Metrobank. If you want an easy and hassle-free buying of FAMI mutual funds, you must have a Metrobank account coupled with online banking. You can see in the link below on how to register or enroll your Metrobank account to Metrobank Direct online banking.
After you finished enrolling your account, you can now register your FAMI account to MD by going to registration of bills located in Bills Payment section. You must enter your FAMI account number on the account number bland and also for the reference number.
If you want to buy all of the four FAMI MF, you must enroll to each fund so that for the next transaction, you won’t need to type again your account number since it is already registered. The only thing you need to have is a sufficient balance to buy the mutual fund of your choice.
You can see below the step-by-step procedure on registering your FAMI account to Metrobank Direct.
1. Log in to your MD account.
2. Click Pay Bills button located in the left side bar of MD webpage. A new page will appear, click the “Register a New Biller” located on the top.
3. Choose the service provider, in this case, the mutual fund you want to register. Enter the Account and Reference number which is your FAMI account number.
4. After successful registration, you can see all your enrolled biller when you click Pay Bills button.
Buying Additional Funds via Metrobank Direct
If you want to buy more mutual funds, you need to log in to your MD online account. Then, click the “Pay Bills” button on the left-side menu.
You should see all of your registered biller, choose the FAMI mutual fund you like to buy from the list. Select which account you will use for payment, then type the amount of money you will use to buy. Select the payment type if it is immediate or future-dated payment.
A confirmation page will appear when your transaction is successfully completed. You can now email this details to FAMI so they can book your payment to buy your MF. Usually, the fastest time for completion of your purchase will be on the same day when you bought the fund. You must request your statement of account through email so you will know how many shares you bought.