PAMI Takes Financial Inclusion a Step Further
Philam Asset Management, Inc. (PAMI), Philam Life’s mutual fund providing subsidiary, heads into the fourth quarter of 2017 with a new thrust for financial inclusion by launching new minimum investment amounts.
“Given the number of new investors that took advantage of our previous PHP5,000 minimum investment amount, we are ready to make wealth creation a reality for even more people,” noted Eric Lustre, CEO and President of PAMI. “Our overarching goal in PAMI has always been financial inclusion and empowerment for all Filipinos. This goal is driven by Philam Life’s core value of ‘malasakit’, which is why we are passionate about making the proper financial instruments accessible to those who need it the most,” he added.
In the past, a minimum amount of PHP5,000 was needed to start investing with PAMI, with subsequent investments from PHP1,000 upwards. This has been lowered considerably to PHP1,000, with subsequent investments of PHP500 upwards now accepted.
The new minimum investment amounts cover conservative, moderate, and aggressive funds, so interested investors can choose from the PAMI Equity Index Fund (PEIF), Philam Managed Income Fund (PMIF), Philam Fund Inc. (PFI), and the Philam Bond Fund (PBF). For those who want to place their money in the PAMI Asia Balanced Fund (PABF), a minimum of US$200 is required, with subsequent investments of US$50 upwards.
“If you think about these minimum investment amounts, you can almost imagine the way prepaid mobile opened up telecommunications for all socio-economic classes,” Lustre pointed out. “If you can buy a cellphone and spend on load regularly, the same practice can now allow you to become a legitimate investor, participate in the market, and take advantage of the current economic climate to grow your money. This seems to be the mindset of countless new investors we’ve seen in the past weeks,” he concluded.