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March 2024
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Philippine asset manager BPI Wealth wins 2.5 billion peso mandate from pension fund SSS

BPI Wealth says t secured the mandate “after a rigorous four-months bidding process”
By Goh Thean Eu   
May 25, 2023

Philippine asset manager BPI Wealth has won a 2.5 billion peso (US$44.8 million) investment mandate from the Social Security System (SSS), a state-owned pension fund that covers private sector employees and the self-employed.

The firm, the asset management arm of the Bank of the Philippines Islands, made the announcement in a statement on May 23, saying that it secured the mandate “after a rigorous four-months bidding process”.

“Amid the most challenging markets in recent years, this new mandate proves that despite market volatility, we have delivered on our commitment to achieve target returns, provide superior service, and offer expert advice,” says BPI Wealth President and Chief Executive Officer Maria Theresa D. Marcial.

BPI Wealth had 875 billion pesos of assets under management as of end 2022.

The SSS had 710.43 billion pesos of assets as of end-June 2022.