Wednesday, January 26, 2011

How To Open A Mutual Fund Account

This entry is in response to Shine’s request on how to start a mutual fund account. 

I can only speak for the mutual fund companies I have invested but the process is almost the same for all.

For Philequity Management Inc. (PEMI), Click LINK

For First Metro Asset Management Inc. (FAMI),  Click LINK

For ALFM (BPI) –Visit any BPI branch and ask about their mutual funds.  They will give your forms to fill-out.  Here are the various ALFM mutual funds, Click LINK

For Philam Asset Management (PAMI), here's the investment procedure.

1.    For Individual or Corporate Accounts:
  • Investor/s fills the following forms:
a.      Investment Application Form (IAF)
b.      Client Information Sheet

  • Investor/s submits a photocopy of any government issued ID.
  • At most, 3 persons can open a joint account
  • For Corporate Account please submit the ff:
1.      Articles of Incorporation & By-Laws
2.      Certificate of Registration
3.      Board Resolution, authorizing the investment
4.      Secretary’s Certificate w/ Specimen Signature
5.      Certificate of Beneficial Ownership

2. Investments can be made through:

CHECK:  Check should be made payable to the fund, i.e.,

        Philam Bond Fund, Inc.
        Philam Fund, Inc.
        Philam Strategic Growth Fund, Inc.,
        Philam Managed Income Fund, Inc.,
        GSIS Mutual Fund, Inc.

(For any out-of-town checks or offshore dollar checks received, booking of investment will be made upon clearance of check).

CASH - For dollar cash notes, please provide a copy of the dollar bill serial number or a photocopy of the dollar bills.

3. For investment coursed through BANKS, deposit amount payable to the fund with the corresponding bank account number.   Please provide PAMI a copy of the deposit slip and fax IAF & Deposit Slip to fax # 813-6813/18 before the cut-off time, 12 noon.  Please indicate name of BDO as recipient.

Note for Faxed Investments:  Original Receipts and Confirmation of Purchase (OR/COP) will be released only after ORIGINAL copies of investment forms and deposit slips have already been submitted to PAMI.

No comments:

Post a Comment