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BPI Wealth wins bid for P1 billion Pag-IBIG Fund portfolio

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<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img alt="Mariana Zobel de Ayala, Director, BPI Wealth; Yvette Mari De Peralta, Head of Institutional Business, BPI Wealth; Maria Theresa Marcial, President &amp; CEO, BPI Wealth; Atty. Robert John Cosico, Deputy Chief Executive Officer for Support Services Cluster, Pag-Ibig Fund; Arch. Lora B. Rivera, Vice President for Facilities Management and General Services Group, Pag-Ibig Fund" src="https://sa.kapamilya.com/absnews/abscbnnews/media/2023/news/03/02/bpi.jpg"/><figcaption>Mariana Zobel de Ayala, Director, BPI Wealth; Yvette Mari De Peralta, Head of Institutional Business, BPI Wealth; Maria Theresa Marcial, President &amp; CEO, BPI Wealth; Atty. Robert John Cosico, Deputy Chief Executive Officer for Support Services Cluster, Pag-Ibig Fund; Arch. Lora B. Rivera, Vice President for Facilities Management and General Services Group, Pag-Ibig Fund</figcaption></figure></div><p>MANILA - The Bank of the Philippine Island&#x27;s wealth management arm BPI Wealth said it won the bid to manage an additional Pag-IBIG Fund P1 billion portfolio.</p><p>BPI Wealth was tapped by Pag-IBIG following a &quot;rigorous&quot; 4-month bidding process to manage the additional investment mandate which brought its total managed fund to P2 billion, the company said in a statement.</p><p>Pag-IBIG in 2019 outsourced the fund management of its P5 billion portfolio. </p><p>With the recent awarding, BPI Wealth said it is now managing the biggest portion of Pag-IBIG&#x27;s equity investment portfolio that is outsourced to domestic fund managers.</p><p>“Financial inclusion has always been at the heart of BPI’s mission. Through this renewed partnership between Pag-IBIG Fund and BPI, we are given the opportunity to further contribute to nation-building by growing the funds that enable Filipinos to live their dreams of having their own homes,&quot; said BPI Wealth President and CEO Maria Theresa Marcial. </p><p>Pag-IBIG Fund Deputy Chief Executive Officer for Support Services Cluster Atty. Robert John Cosico said the firm has full trust and confidence in its partnership with BPI. </p><p>Pag-IBIG earlier reported a record P117.85 billion release in terms of home loans to finance 105,212 members in 2022.</p><p>BPI Wealth, meanwhile, reported an P875 billion in assets under management as of Dec. 31, 2022. </p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/01/04/23/pag-ibig-contribution-hike-deferred-to-2024-official">Pag-IBIG defers contribution hike to 2024 to ease burden on members: official</a></li>	<li><a href="https://news.abs-cbn.com/business/02/24/22/pag-ibig-to-defer-hike-as-fund-posts-strong-performance">Pag-IBIG to defer hike in contribution as fund posts strong performance</a></li>	<li><a href="https://news.abs-cbn.com/news/12/01/22/pag-ibig-allocates-p250b-for-pambansang-pabahay-program">Pag-IBIG allocates P250B for &#x27;Pambansang Pabahay Program&#x27;</a></li></ul><div><strong>RELATED VIDEO</strong></div><figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=2469066" width="100%"></iframe></figure><div class="iwantbar">Watch more News on <a href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" target="_blank">iWantTFC</a></div>

The Bank of the Philippine Island's wealth management arm BPI Wealth said it won the bid to manage an additional Pag-IBIG Fund P1 billion portfolio.