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Fund Managers Report 2nd Quarter 2012 Market Wrap The PSE index ended on a positive note at 5,256 for end June, registering a 20% year-to-date return for the stock market. Investors returned to the equities market as local macroeconomic fundamentals remained positive. The government announced the launch of additional PPP rollouts and the country earned ratings and outlook upgrades from S& P and Moodys. Market corrections remained throughout the quarter, with news from the continuing Euro financial crisis and little progress on the US front, however, the Phil. markets remained resilient. For the bond market, yields remained low and more corporate issuers took advantage to issue new bonds with the substantial liquidity.
The Balanced Fund posted a year-on-year net ROI of 4.23% and an absolute year-to-date net ROI of 3.16% with NAVPU of P123.113236 as of June 30, 2012. It under performed its benchmark of 10.27%.
Disclosure of Fund expenses for the 2nd Quarter, 2012 per BSP regulation:
Trustee Fees 79,047.87 22,437.17
Deutsche custody fees 1,603.44 119.337842 Note: From Apr-June 2012 only ; annual trust fee is 1.5% per annum based on net assets.
*absolute ROI means the incremental % change in NAVPU based on term indicated. PORTFOLIO MIX:
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BSP-SDA 48%
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The UITF is NOT a deposit and not insured by PDIC. Due to the nature of the investments, yield and potential yields cannot be guaranteed. Any income or loss arising from market fluctuations and price volatility of the securities held by the UITF, even if invested in government securities, is for the account of the Investor. As such, units of participation of the investor in the UITF, when redeemed, may be worth more or be worth less than his/her initial investment/contributions. Historical performance, when presented, is purely for reference purposes and is not a guarantee of future results. The Trustee is not liable for losses, unless upon willful default, bad faith or gross negligence.