Note: This post applies to those who have invested in any of the mutual funds managed by Philam Asset Management, Inc. (PAMI).
According to PAMI, One recent study* (Thaler & Benartzi, 2013) in the US points to automating investments as an effective way to solve Investor Inertia.
As part of PAMI’s thrust in providing clients with ease of doing business, clients are encouraged to automate their investments through BPI Expressonline.
First, make sure you have a BPI Expressonline account.
1. Login to your BPI online account.
2. Click Payments and Reloading tab.
3. Go to Bills Payment tab.
4. Click Enroll all other bills tab.
5. Enter or choose your BPI ATM card no. (if you have more than one enrolled BPI account).
6. Enter your Joint Account No. (2 digit no. located at the lower right hand corner of your ATM card).
7. Choose company name under Bill information. Select the name of the Fund (e.g.,Philam Strategic Growth Fund Inc./Philam Fund, Inc., etc.) as the Enrollee Merchant. Enter the Folio number 600X-XXX-XXX on the space under “Reference No.”
8. Enter Reference number – (This is the Folio no. as indicated in your PAMI Statement of Account. This is usually found on the upper left side of your SOA)
9. Click Submit button.
10. Once transaction is successful, the enrolled account will appear in your enrolled bills and you can now start investing.
11. To Fund – under “Payments & Reloading”, click “Bills Payments” then click “Pay Bills Today”
12. Under “Pay”, choose your Folio Number, enter the amount & choose your BPI account.
Once transaction is successful, the enrolled account will appear in your enrolled bills and you can now start investing. Note that investment made online will be credited the following banking day.
Same online procedures follow ie you will receive an acknowledgement email from BPI etc. You will also receive an Official Receipt from PAMI every time you invest or purchase new shares (within 2 weeks). Otherwise, inform your C.I.S. or your PAMI Relationship Manager about it.
If you want to try this for the first time, try peso-cost averaging approach by investing P1000 in your existing fund on a monthly basis.
Same fees apply. This procedure eliminates the need to fill up/sign form and issue checks. This makes investing more convenient for mutual fund investors.