Bank of the Philippine Islands (BPI) Asset Management and Trust Group has signed an agreement with COL Financial Group to make its unit investment trust funds (UITFs) available to all COL customers through its online platform.
The agreement will expand COL Financial’s range of financial products and will also help increase its customer base.
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The deal will provide BPI access to COL Financial’s online platform as a distribution channel for Unit Investment Trust Funds (UITFs).
As part of the deal, COL Financial will act as a distributor of BPI’s UITF, an investment scheme that allow the pooling of investors’ funds to achieve a certain objective.
COL Financial said: "With respect to the participation of the company in certain funds of BPI for the benefit and account of the company’s clients."
Conrado Bate president and CEO COL Financial said: "We will start offering in our online platform the fund of BPI, particularly UITF. This partnership will give our clients access and ability to invest in other funds."
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By GlobalDataBate added that COL Financial will help its clients pick the right funds based on their risk profile.
April Lee-Tan, vice-president and head of research of COL Financial, said: "This puts us one step closer to allowing COL Financial clients to purchase funds online. This should benefit clients as it makes it easier to both buy and sell funds."
