Thursday, September 18, 2008

Philam mutual fund company says funds are safe

By Ma. Salve Duplito
INQUIRER.net
First Posted 10:57:00 09/16/2008


MANILA, PHILIPPINES—The Philam Asset Management Inc. (PAMI) said Tuesday investments in the mutual fund companies under its wings are safe and will not be affected by troubles facing American International Group (AIG), the company’s parent company.

Karen Liza M. Roa told INQUIRER.net in a telephone interview that under Philippine laws, mutual fund companies are legal entities of their own and are required to get third-party custodians to handle the funds.

“Yes, your investments are safe…It’s not the funds that are in trouble, it’s the fund manager’s parent company. We should all be very clear on that,” she said.

This means that should AIG close its doors under a worst-case scenario, PAMI may close shop but the fund itself will merely get a new fund manager.

PAMI is the second-biggest mutual fund management company in the Philippines, with around P19 billion assets under management.

“(Investments in PAMI-managed mutual funds) are not co-mingled with ours,” Roa said.

Under Philippine laws, mutual fund companies have separate and independent members in the board of directors and are required to follow the investment restrictions of the Securities and Exchange Commission and the Philippine Investment Company Act. This includes the obligation to buy back any shares that its investors want to redeem.

“If you take a look at your investments, they are in Philippine blue chips and in Philippine prime grade fixed income. Citibank is our third-party custodian,” Roa said.

AIG, one of the biggest insurance companies in the world, is the latest financial services company battered by the turmoil in the US housing and credit markets.
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Wednesday, September 10, 2008

Why is AIG BOUNTY more than an insurance coverage?


AIG BOUNTY

Discover the earning potential of your savings.
Get an early start with AIG Bounty, a savings plan that provides you with guaranteed annual and lump sum cash benefits and life insurance coverage!

AIG BOUNTY provides you the following benefits:

AIG Bounty provides guaranteed cash benefits up to three times your face amount! Receive annual cash benefits for ten years and get a lump sum amount up to twice the face amount.
AIG Bounty provides protection for your loved ones for as much as 300% of your face amount.
Additional earnings in the form of dividends that you can use to increase your protection benefit or boost your guaranteed cash benefits.
Comprehensive accident coverage that provides financial support in the event of accidental death, disability and dismemberment.
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Friday, August 22, 2008

INTELLIGENT INVESTING - SAVE ON A SCHEDULE

Invest the same amount in a mutual fund every month. That ensures you'll buy more shares when they're cheap and fewer when they're expensive ... READ MORE
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My AIG BOUNTY

WHY I PREFER AIG BOUNTY?

Most of us are too busy making money that often times we forget to take time out to manage our money.

In this life, Its is not how much money you've made that matters, it's how much money you save.

Some people however do some savings. But the question is where do they put their savings. Most of the people put their savings in a bank where it earn interest of course. But what else? Nothing more.

What if something unexpectedly happens to you? If you were the bread winner, who then will take care of your family? Will your savings in the bank be sufficient to take care of them until such time that they are ready to move on?

Here in the Philippines, Are you aware that in case someone passed away, all his property whether real estate or cash deposits will be subjected to 20% estate tax by the government? Yes, Indeed. The government, not only will not do anything to lighten the situation, they will be the first one to part-take from the money that one will pass on to his heir.

In my case, I was looking for an instrument where I can do three (3) things simoultaneously.

1. Avail of an Insurance coverage that can provide my family stability in case something unexpected happens to me;
2. With the same money, start building up my retirement fund;
3. With the same money still, do some savings which will earn a return not lesser than what banks will offer me as deposit interest.

Well, I found it in AIG BOUNTY...

In AIG Bounty, my annual premium will serve as my savings.
Yes, savings. Because after 20 years AIG will return to me all my premiums plus the corresponding dividends. And at the same time AIG will provide me the insurance coverage that I needed for my family.

AIG, under AIG Bounty also promises that in case after 20 years and I am still alive (my children will be grown up then and yours truly will no longer young enough to work), they will give me my insurance coverage in form of Cash Benefits.

Summing up what I will get after 20 years, all my premiums, the dividends thereof and the Insurance coverage, surely I will have enough money for my retirement.

If you agree with me and wish to invest on an instrument that can provide you 3 things with the same money simoultaneously, please do email me at jao_101@yahoo.com and I will be more than willing to help you.