When I returned to Philippines from South Korea last January 2010, I made it sure that I can open a mutual fund account as one of my investment for working abroad. I want my money to work for me just what financial guru is teaching like Robert Kiyosaki and Francisco Colayco. Actually, before I went on vacation at that time and several months before, I’m studying which mutual fund I will buy. I think mutual fund is one of the best investment for OFW.
So I researched in the Internet about the performance of mutual funds in the Philippines. I read blogs frequently dealing with mutual funds so I will have enough knowledge and strategy in investing in it. I became interested to First Metro Assets Management, Inc. (FAMI) and chose it because it is backed by Metrobank which I think has a good management; it has low NAVPS (net asset value per share) and good return based on their previous performance in the past 4 years.
How I Opened My Mutual Fund Account?
When I opened my account in FAMI, I went to their office in PSBank building along Paseo de Roxas Avenue in Makati. I brought all the requirements which I got from their website. It took only less than 30 minutes for the application to be processed and approved. There are no hassles and the customer agent was really nice. She helped me to choose which type of mutual fund suited for my investment goals.
Actually, when you applied for FAMI mutual fund account, you will be given a set of questionnaires and based on your answers, the customer agent will determine your score with corresponding type of mutual fund suited for you. You can also apply mutual fund in FAMI even if you’re abroad, just visit their website for more information: fami.com.ph
I only invested P10, 000 pesos in January 2010 and so far as of this writing, the return is at 15% or equivalent to P1, 500. I didn’t do anything just open a mutual fund account and invest my money on it and now there’s a P1,500 pure profit after 6 months. Think about it, supposed I invested P100, 000, how much is my current profit at 15% return rate. It’s P15, 000. That’s better profit than savings account or time deposit.
The nice thing about investing in mutual funds is that you invest once and you’ll just wait for it to increase its NAVPS. You can’t control it since only the mutual fund manager has the access to your funds. He’s the one that will buy or sell shares of stocks, bonds or other securities. Investing in mutual fund specifically on equity fund is just like investing in stock market indirectly.
A word of advice: study first before you invest in mutual fund, and money invested in mutual fund is NOT covered by insurance from PDIC.
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