Investment advisor

[carbrill]

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mangayo ta kog advise sa mga expert aning mga investment...

advisable ba nga mag open ug different foreign currency account sa bank? which bank is good to open an account.

or naa'y laing way nga mas maau para mo gain ug more income or interest, if I sud sa stock market or kanang Mutual Fund...

which is advisable...

Thank you!

[cebu.opportunities]

OFW ka TS?
at least a Philippine peso and USD account will do.

USD account as a "settlement" account or where you'll send your USD or 3rd currency "remittances". Then, have it converted to Php from money changers or banks whichever has higher rates during high exchange rate.
If you find it time consuming, you can have it wire transferred directly to your Php account. Just transfer during high exchange rates.

There is a special account wherein you can remit without any charge regardless of the amount.
Try to ask Citibank about this. You can send it from your Citibank to other banks (BDO, BPI, etc) from "several" countries. Please clarify to the customer service with the list of countries covered.
- Basing its terms and conditions, I guess this is just good for bulk remittances.

2k usd to "5k" (or a bit more),
you can have it sent through Western Union. barato rmn diay ang charge. for 2k, P160. 2.5k for P250... not advisable to send above 3k (USD to USD) for USD bills are of limited in number per branch and once you have sent it singly, only one transaction is required for claiming. It's either wait until there's stocks or exchange it to PHP according to their given rate (usually lower than other money changers).

For investing in the Philippines,
probably it would be better to have it invested in PHP investments rather than USD investments for interest rates are just minimal as compared to PHP since they cannot maximize its use (Foreign currency) in the Philippines. base lang pud ni sa personal investment before. I don't know with others.

[carbrill]

ahh okay thank you sa input...

[makie29]

If your intention is for growth, I strongly suggest not to put it in bank accounts. Savings and time deposits earn so less these times and I've heard some news that SDAs are going to be scrapped. Try to inquire about UITFs in banks and if they accommodate dollar accounts. UITFs are investment instruments that will give you exposure to stocks and fixed income securities such as bonds, notes, and the like.

Aside from UITFs, you can consider mutual funds. Mutual funds and UITFs are basically the same, they only differ in their structure and regulating bodies.

For UITFs, try to visit and inquire in banks. UITFs are bank products/services. I suggest go to very solid banks such as BDO, BPI, Security Bank, etc.
For mutual funds, there are several mutual fund companies here in Cebu. We have PAMI, FAMI, Sun Life.

Anyway, here are some links to different UITFs and mutual funds:

UITFs

https://www.bdo.com.ph/personal/trus...nt-trust-funds
https://www.bpiassetmanagement.com/pages/bpi-uitf-faqs
Security Bank Unit Investment Trust Fund
Rizal Commercial Banking Corporation
Metrobank

Mutual Funds

Philam Asset Management, Inc.
First Metro Asset Management Inc
Sun Life Financial Philippines: Mutual Funds Investment plans

If you want to check the performance of mutual fund companies and compare them, you can check it on this link: http://pifa.com.ph/factsfignavps.asp

By the way, if you intend to invest, I suggest you convert your dollars to peso so you can avoid currency risk. Currency risk will affect your investments through the exchange rate. If the peso will strengthen, it will pull your investments down. I think it is better to convert half of it and keep half of it as dollars since if the peso continues to weaken, at least the exchange rate can help pull it up.

Hope this helps.

[cebu.opportunities]

^ Yes, naa Dollar nga UITF pero mas dako ang gain if PHP UITF if diri pinas mo invest.

pero if USD capital preservation lang, okay ra ang USD UITF as compared to Time Deposits but fluctuating gihapon ang navpu's so depende if when gi in and out.

reason why gamay ra gain sa USD UITF diri ky Bond Fund and Money Market ra available. unlike sa Peso UITF, Money Market, Bond Fund, Fixed Income, Balanced and Equity Fund.

The higher the potential gain, the higher the risk.

[carbrill]

can I do it by online kanang MF and UITF? or do I need to go personally sa mga companies?

[makie29]

can I do it by online kanang MF and UITF? or do I need to go personally sa mga companies?

Kinahanglan moadto. An ID is a requirement for mutual funds. Dunno about UITFs but I think they have the same requirements more or less.

[carbrill]

okay @makie29; thank you sa info...

[cebu.opportunities]

I've asked sa BDO ganiha bro and unfortunately, ang answer is no ky kailangan ka moadto didto.

naka-limot ko pangutana if pwede ra if mag-submit ka SPA to authorize another person pero medyo parehas rmn istoryahaa kung kato imo gi-entrust sa pinas ang imo ipa-open. ang nakalahi lang sa latter is ma-under sa iyang name whereas sa former, under sa imong name, iyaha lang signatory.

If ever pwede mag-SPA nlng, i-indicate lang gyud ngadto nga if i-redeem, it should be placed sa settlement account nga under your name.

[adzilla81]

Biliba nako nimo boss Carbrill uy!! Big time naman humot na kayo kag $$$... Pasalubong nya inig uli nimo ha =D