Announcements
Jun 10, 2025
Dear Valued Client,
As part of our ongoing efforts to streamline our Unit Investment Trust Fund (“UITF”) offerings, we wish to inform you that the BPI US Dollar Income Feeder Fund (the “Fund”) will be terminated and will be merged with the new BPI Global Bond Income Fund, A Feeder Fund (“BPI Global Bond Income Fund” or the “Surviving Fund”) effective July 25, 2025. Investors of the Fund will automatically be shifted to the US Dollar class of the BPI Global Bond Income Fund.
Introducing the BPI Global Bond Income Fund
The new BPI Global Bond Income Fund is a foreign currency denominated fixed income feeder UITF designed for income-seeking investors. It offers:
• Consistent Monthly Income
Eligible investors can enjoy steady cash flow with monthly unit income proceeds credited directly to their accounts. The target fund, PIMCO Income Fund, has delivered historical payout rates of 5-6% per annum.
• Portfolio Stability
As a 100% fixed income fund, BPI Global Bond Income Fund invests in a high-quality portfolio of global fixed income securities (with an average credit rating of AA-). This strategy is designed to weather rate cycles and market volatility.
• Currency Flexibility
Clients have the option to invest either in US Dollars (through Unit Class A or US Dollar Class) or Philippine Peso (through Unit Class P or Philippine Peso Class), providing greater convenience and accessibility especially to Peso investors.
| BPI Global Bond Income Fund | ||
|---|---|---|
| Class A / US Dollar Class | Class P / Philippine Peso Class | |
| Classification | Fixed Income Feeder Fund | |
| Investment Objective | To provide regular and stable income with a secondary focus on long-term capital appreciation by investing in a Target Fund that invests in a broad range of global fixed income securities | |
| Benchmark | Bloomberg US Aggregate Index | |
| Risk Profile / Investor Type | Moderately Aggressive | |
| Distribution Frequency | Monthly | |
| Trust Fee | 1.25% per annum | |
| Class Currency | US Dollars(USD) | Philippine Peso (PHP) |
| Minimum Initial and Maintaining Investment | USD 100 | PHP 1,000 |
| Minimum Transaction Amount | No minimum | |
| Redemption Settlement | T+5 business days | |
| Minimum Holding Period | 180 calendar days | |
| Early Redemption Fee | 1.00% of the redemption proceeds | |
| Target Fund | PIMCO Income Fund (https://bit.ly/PIMCOIncomeFund) | |
| Product Page | https://bit.ly/BPIGBIF | |
Next Activities
We are here to guide you through the next steps as we prepare for the merger. Kindly take note of these important dates:
Date | Details |
|---|---|
June 4, 2025 (Wednesday) | LAST DAY OF SUBSCRIPTIONS
Effective immediately, BPI US Dollar Income Feeder Fund is no longer accepting new subscriptions or scheduled subscriptions via Regular Subscription Plans. This ensures that no further investments will be made that no longer qualify for income distribution.
For fresh or additional funds, we highly encourage you to begin investing in the new BPI Global Bond Income Fund.
Redemptions will proceed as usual.
|
July 15, 2025 (Tuesday) | LAST DAY OF REDEMPTIONS
To better facilitate any redemption requests, early redemption fees for the BPI US Dollar Income Feeder Fund have been waived.
Clients who will remain invested in the Fund will automatically be shifted to the Surviving Fund.
|
July 25, 2025 (Friday) | MERGER EFFECTIVITY
The merger process will be facilitated through the redemption of the BPI US Dollar Income Feeder Fund units and the reinvestment of proceeds to the BPI Global Bond Income Fund.
From July 21 to July 25, 2025, investors will receive transaction advices documenting the redemption phase of the merger. Redemptions during this period will use the same price for BPI US Dollar Income Feeder Fund, with proceeds automatically reinvested in the BPI Global Bond Income Fund at its prevailing price on the merger effectivity date.
|
July 28, 2025 (Monday) | COMPLETION OF THE MERGER ACTIVITIES
The BPI US Dollar Income Feeder Fund is officially terminated. All outstanding investments have been shifted to BPI Global Bond Income Fund.
Investors will receive transaction advices confirming the subscription. Redemption proceeds have been reinvested to the BPI Global Bond Income Fund on July 28, 2025, at its prevailing price on the merger effectivity date.
Investors should see their corresponding BPI Global Bond Income Fund units in BPI online or BPI app by the end of this day.
|
What you need to do
1. If you agree with the above merger activities: No action or additional documentation is required from you. Your outstanding holdings in the BPI US Dollar Income Feeder Fund will be automatically redeemed and reinvested into the BPI Global Bond Income Fund at the prevailing price on July 25, 2025, the merger effectivity date.
2. If BPI Global Bond Income Fund does not align with your preferences or if you want to redeem and shift ahead of the merger date: You may redeem your investments in the BPI US Dollar Income Feeder Fund on or before July 15, 2025.
Rest assured that we are doing our best to make this transition as smooth and seamless as possible. Should you have any questions or concerns, please do not hesitate to email us at bpiwealth@bpi.com.ph.
If you have any questions or concerns, please do not hesitate to send us an email at bpiwealth@bpi.com.ph or call our 24-hour BPI Contact Center at (+632) 889-10000.
Thank you for your continued trust and confidence in BPI Wealth. We remain committed to helping you achieve your financial goals.
Sincerely,
Sgd.
Maria Theresa D. Marcial
President and CEO
Disclaimer
This is not a deposit product. Earnings are not assured and principal amount invested is exposed to risk of loss. This product cannot be sold to you unless its benefits and risks have been thoroughly explained. If you do not fully understand this product, do not purchase or invest in it.
Unit Investment Trust Funds (UITFs) are NOT DEPOSIT products and are not an obligation of, or guaranteed, or insured by BPI Wealth or Bank of the Philippine Islands (BPI) or its affiliates or subsidiaries, and are not insured by the Philippine Deposit Insurance Corporation (PDIC). Due to the nature of the investment, yield and potential yields cannot be guaranteed. Any income or loss arising from market fluctuations and price volatility of securities held by a UITF, even if invested in government securities, is for the account of the investor/trustor. As such, units of participation of the investor/trustor in a UITF, 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. BPI Wealth is not liable for losses, other than due to willful default, evident bad faith or gross negligence. Investors are advised to read the Declaration of Trust of the relevant UITF before deciding to invest.
For inquiries and comments, visit the BPI Wealth website or call the 24-hour BPI Contact Center at (+632) 889-10000.
BPI Wealth – A Trust Corporation is regulated by the Bangko Sentral ng Pilipinas, www.bsp.gov.ph, and SEC, www.sec.gov.ph
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| BPI is regulated by the Bangko Sentral ng Pilipinas