As promised, here’s the detailed guide on opening an account in FAMI. I received few inquiries about it so I decided to write a blog post. There are other mutual funds account in the Philippines, but I chose FAMI as I’m a fan of Metrobank…hihihi. Their growth in the past years are great and I have great confidence with them. You may also try opening account in other mutual fund companies if you want.
First Metro Asset Management Inc (FAMI) was established by First Metro Investment Corporation (FMIC) in partnership with the Catholic Educational Association of the Philippines (CEAP) and Marist Brothers Foundation to engage in the mutual fund business, promote savings mobilization and advocate investment literacy among Filipinos.It is an investment company adviser licensed by the Philippine Securities and Exchange Commission to manage and distribute mutual funds. As of May, 2009, FAMI is the investment manager, administrator, and principal distributor of four mutual funds:
– Save & Learn Equity Fund (SALEF)
– Save & Learn Fixed Income Fund (SALFIF)
– Save & Learn Balanced Fund (SALBF)
– Save & Learn Money Market Fund (SALMF)
For this guide, I will discuss about FAMI SALEF. Though considered as the highest risk funds, it is also the top earning fund in FAMI. Check my previous post about mutual fund to know more about it.
To begin with, try to print the 3 documents needed to open an account. Click below link to download.
Fill up all the 3 forms and put your signature on the space provided most especially on the signature card. You are required to sign twice on each, so total 4 signatures on that form alone.
Once everything is filled up, you need to prepare your identification documents. You need 3: one is your passport, one is your work permit/work pass issued in your respective country and one ID from the Philippines like driver’s license, PRC, SSS or anything.
Photocopy these 3 documents and sign the photocopied paper. Do not forget to sign, otherwise it is incomplete.
To open an account, you need to send them the money. Minimum investment is Php 5K pesos, deposit it on their bank account as per below:
Bank: Metropolitan Bank and Trust Co.
Account Name: First Metro Save and Learn Equity Fund
Account Number: 016-3016-251-497
Bank address: Tytana Plaza, Plaza Lorenzo Ruiz, Binondo, Manila
The higher the amount your initial deposit is, the better. You can find out more about it on my previous blog about mutual funds.
Submit the forms with your complete Information and signature together with valid IDs and the deposit slip thru email (FAMI@firstmetro.com.ph) or thru fax to book your investment, then send the original copy thru courier to First Metro Asset Management, Inc. 18th Flr. PS Bank Center 777 Paseo De Roxas Cor. Sedeño st. Salcedo Village, Makati.
They will send you the Confirmation of Receipt (COR) as proof of your investment.
For subsequent investment, you can send your bank transfer receipt on their email address. For more information, visit the FAMI page. If you are in Singapore, check my previous blog here. I posted a contact person there who can help you on your registration.
Hope this guide will help you in securing a brighter future thru mutual fund investment. If you have any questions, just leave your comment or message me in facebook. Don’t forget to join our facebook fanpage 🙂
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