Francisco Colayco – Teach You Banker Friends
Question:
I am one of the many readers of your books. I don’t regret of having bought your book since it gives me insight on how I can save for my future.
I am an ordinary employee working in a sugar factory in Negros Occidental. I wanted to start my saving in mutual fund but as I inquired from my bank, which is one of the biggest banks in the Philippines, they told me its a risky investment and its only good for big businessmen with big capital.
These had bothered me, as in your book an ordinary person can invest in a mutual fund for as low as P5000. This prompted me to ask help from you, what investment instrument requires a small starting capital?
Francisco Colayco Advise:
Unfortunately, your Bank contact person does not even know that one of the companies affiliated with their bank has mutual funds and accept a minimum of P5,000 as an initial investment. Certainly, P5,000 can be a big amount for the ordinary income earner but definitely this is a small amount for the big businessman with big capital. Why should a mutual fund allow a minimum of P5,000 if mutual funds are only for big businessman?
List of Mutual Fund in the Philippines
Mutual Fund is a company that pools money from many investors and invests the money in stocks, bonds, short-term money-market instruments, other securities or asses, or combination of these investments.
In Philippines, mutual fund is becoming popular for investors generally because of the following advantages:
- Professional Management - there is a professional money manager dedicated to research,select, and monitor the performance of the fund purchases.
- Diversification - Don't put all your eggs in one basket. This is one of the great benefits of mutual fund. In mutual funds, your investments are distributed across the wide range of companies and industry sector which in turn lowers the risk.
- Affordability - You can enroll to a mutual fund to as low as Php 5,000 ($119) initial payment, succeeding purchases or both.
- Liquidity - It is easy to liquidate. Investors can redeem their share based on the current NAV (Net Asset Value).
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