All funds/products managed by BPI Asset Management are Trust and/or Investment Management Funds. They are NOT DEPOSIT products, and are not insured by the Philippine Deposit Insurance Corporation (PDIC). Due to the nature of the investments, yield and potential yields cannot be guaranteed. Any income or loss arising from market fluctuations and price volatility of the securities held by the Fund, even if invested in government securities, is for the account of the investor. As such, units of participation/shares of the investor in the Fund, when redeemed, may be worth more or be worth less than his/her initial participation/contribution. Historical performance, when presented, is purely for reference purposes and is not a guarantee of future results. BPI Asset Management is not liable for losses, unless upon willful default, evident bad faith or gross negligence.