Mutual fund accounts opening requirements and procedures

Opening Mutual Fund Accounts with different IMG Partner Mutual Fund Companies are outlined in this article.

First Metro Save and Learn (FAMI)

These are the procedures to open mutual fund accounts with FAMI:

  • Visit FAMI’s website: www.fami.com.ph download and review its prospectus to guide you in choosing the funds which best fit your financial goals.
  • Download the complete set of forms for account opening by clicking the Download menu and the applicable forms. You can also ask forms from IMG offices.
  • Fill out the forms: investment application form, account opening form and specimen signature. Two valid IDs with photos are required just like opening an account with a bank.
  • Deposit the amount you wish to invest with Metro Bank. A minimum of PhP5,000.00 initial investment is required. Prepare three copies of the deposit slip. Remember to request for a waiver of the PhP50.00 deposit fees from an authorized bank official The different mutual funds have different accounts, viz:
  1. Save & Learn Equity Fund - S/A 016-3016-25146-2
  2. Save & Learn Fixed Income Fund - S/A 016-3016-25149-7
  3. Save & Learn Balanced Fund - S/A 016-3016-25791-6

Submit duly filled out forms together with the duplicate copy of your deposit slip to IMG office. IMG will forward the documents to Rampver Strategic Advisors. IMG partnered with Rampver Strategic Advisors as agent for its mutual fund transactions, as well as, for the provision of investment advisory services to IMG brokers.Wait for an acknowledgement letter from FAMI.

Philequity Management (PEMI)

More or less, the same procedure applies to opening a mutual fund account with Philequity Fund. First off, read the prospectus from their website: www.philequity.net to help you decide.

To access application forms click on “Online Forms” then click on either “Fill up online” or “Download” on your chosen fund. Personally, I prefer to download the forms and take time to fill them and go over the entries to make sure that they are in order. Deposit your initial investment with either Banco de Oro or Union Bank. Banco de Oro accounts are as follows:

  • Philequity Fund, Inc. - 343-0000-151
  • Philequity PSE Index Fund, Inc. - 343-0152-148
  • Philequity Peso Bond Fund, Inc - 343-0152-121
  • Philequity Dollar Income Fund Inc- 343-0140-646

If you prefer Union Bank, here are the accounts for the different mutual funds:

  • Philequity Fund, Inc. - 006-030-000-101
  • Philequity PSE Index Fund, Inc. - 006-030-010-190
  • Philequity Peso Bond Fund, Inc - 006-030-010-808
  • Philequity Dollar Income Fund Inc- 006-101-011-305

Philam Asset Management (PAMI)

PAMI’s depository banks are BPI, Citibank, MetroBank and Security Bank. BPI however, is for additional investments only where you can also do online fund transfers.

The Metro Bank account is only for GSIS mutual fund. Security Bank accounts are only for four mutual funds: Philam Bond Fund, Philam Dollar Bond Fund, Philam Fund, Inc. and Philam Strategic Growth Fund.

Visit www.philamfunds.com.ph for comparison of the different funds and for the application procedures.

I have no experience opening mutual fund accounts with PAMI. The stringent requirements of its depository bank is a turn off.