IN THE NEWS
Changes to the BPI Invest US Dollar Income Feeder Fund (2)
11 May 2020
Dear Valued Client:
We wish to inform you that effective 15 June 2020, Section 7 of the Appendix to the Plan Rules of BPI Invest US Dollar Income Feeder Fund shall be amended as follows:
The Target Funds may avail itself of instruments for efficient portfolio management (EPM), provided, that, these are accounted for in accordance with existing BSP guidelines, as well as the Trustee’s risk management and hedging policies duly approved by the Board of Directors of the Trustee, and disclosed to the Participants.
The Target Fund/s may avail itself of instruments for efficient portfolio management (EPM), provided, that the financial derivatives shall not be extensively or primarily used as an investment strategy of the Target Fund and that the risk level of the Target Fund remain consistent with the objective and risk profile of the Fund. Further, the use of financial derivatives for EPM must be in accordance with other existing BSP guidelines, as well as the Trustee’s risk management and hedging policies duly approved by the Board of Directors of the Trustee, and disclosed to the Participants.
Implementation of said change is an alignment with the provision of Section 414-Q of the Manual of Regulations for Non-Bank Financial Institutions as recommended by the Bangko Sentral ng Pilipinas for better clarity of the Plan Rules.
The above amendment poses no effect on the investment strategy of the fund. BPI Invest US Dollar Income Feeder Fund will continue to be managed within its current investment objectives and policies. For more details on this amendment, a copy of the amended Plan Rules is available in your branch of account.
Your decision to remain invested in the Fund will signify conformity with the amendments. For any questions, please do not hesitate to call or text us at +639271361319 or write us at firstname.lastname@example.org.
Thank you for your continued trust.
SHEILA MARIE U. TAN
ALL FUNDS/PRODUCTS MANAGED BY BPI ASSET MANAGEMENT AND TRUST CORPORATION ARE TRUST AND/OR INVESTMENT MANAGEMENT FUNDS. THESE ARE NOT DEPOSIT PRODUCTS AND ARE NOT AN OBLIGATION OF, OR GUARANTEED, OR INSURED BY BPI ASSET MANAGEMENT AND TRUST CORPORATION, OR BANK OF THE PHILIPPINE ISLANDS (BPI) OR ITS AFFILIATES OR SUBSIDIARIES, OR BPI FAMILY SAVINGS BANK OR 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 of the trustor 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. The Trustee is not liable for losses, unless upon willful default, evident bad faith or gross negligence. Trustors are advised to read the Declaration of Trust, which may be obtained from the office of the Trustee, before deciding to invest.
BPI Asset Management and Trust Corporation (BPI AMTC) is a subsidiary of the Bank of the Philippine Islands. For any inquiries and complaints relating to our services and products, you may call our hotline: 889-10000, send an email to email@example.com or write a letter addressed to BPI Asset Management and Trust Corporation - Consumer Assistance Office, 7/F, BPI Buendia Center, Sen. Gil J. Puyat Avenue, Makati City 1209.
BPI AMTC as Trustee / Investment Manager is regulated by the Bangko Sentral ng Pilipinas (BSP) with e-mail address: firstname.lastname@example.org.