Established in July 1995, The Mutual Fund Management Company of the Philippines, Inc. (MFMCP) is an investment management company incorporated under Philippine law. MFMCP was established primarily to serve as investment adviser, principal distributor, and administrator of the MFCP Kabuhayan Fund, which was also launched in 1995.
In late 2003, ATR KimEng Capital Partners, Inc. purchased a controlling stake of 83% of MFMCP. Founding shareholder Clemente Fund Management Asia Ltd. still holds the 17% remainder.
MFMCP is the designated investment adviser, principal distributor, and administrator of the following mutual fund products:
(1)The MFCP Kabuhayan Fund, a balanced fund;
(2) The ATR KimEng Equity Opportunity Fund, an equity fund launched in late 2004; and
(3) The ATR KimEng Money Market Fund, a money market fund (originally launched in late 2004 as a bond fund).
At the end of August 2007, these three locally-distributed funds had over PHP 1.0 billion in total assets under management (AUM) and more than 2,600 investor-customers. The daily Net Asset Values of the above funds are quoted in Philippine Pesos.
In April 2007, MFMCP was pleased to be appointed as the investment adviser for The MFMCP-Aizawa Trust Philippine Fund, which is the only Philippines equity fund presently being distributed in the Japanese retail investor market. This fund's AUM stood at more than PHP 750 million at the end of August 2007. This fund is organized as an open-ended series trust domiciled in the Cayman Islands, and its daily Net Asset Value per share is quoted in U.S. Dollars.
MFMCP is a member of the Investment Company Association of the Philippines, which is the industry organization for mutual funds and their investment advisors. For more details visit www.icap.com.phBACK TO TOP
In the Philippines, mutual funds are investment companies, and not deposit substitutes. Therefore, Philippine mutual funds are not insured by the Philippine Deposit Insurance Corporation (PDIC). Investors in Philippine mutual funds bear the risk of possible losses on their original invested principal, but by the same token stand to enjoy potential investment returns well in excess of the yields on bank deposit instruments and pre-need plans. In the Philippines, mutual funds (and their investment advisers, such as MFMCP), are regulated by the Securities and Exchange Commission, not by the Bangko Sentral ng Pilipinas.
Open-ended series trusts established in the Cayman Islands are similarly subject to the risk of possible losses on invested principal, and may enjoy variable rates of return.
The Kabuhayan Fund is the trade name or brand of The Mutual Fund Company of the Philippines, Inc. This is also sometimes known as the MFCP Kabuhayan Fund. This fund was established and began marketing in 1995, and incepted on April 29, 1996.
Investment Objective: The Kabuhayan Fund is designed to seek total return through current income and long-term capital growth through investment in listed and non-listed equity and fixed income securities of Philippine companies and debt obligations of the Government of the Republic of the Philippines and its instrumentalities. Shares in the Fund are offered primarily to Filipinos.
Largest Institutional Investor-Customers (in alphabetical order, as of end-June 2007):
Asian Development Bank (ADB)
AsianLife and General Assurance Corp (ALGA)
AsianLife Financial Assurance Corp. (ALFA)
Deutsche Investitions-und Entwicklungsgesselschaft (DEG)
Eastbridge Holdings Inc
Home Development Mutual Fund (The Pag-IBIG Fund)
Manila Electric Co. (Meralco) Pension Fund
Philippine Long Distance Telephone Co. (PLDT) Beneficial Trust
Philippine National Bank (PNB) Regular Retirement Fund
Private Education Retirement Annuity Association (PERAA)
Investment Objective:Established in 2004, this mutual fund is designed to seek absolute return through long-term capital appreciation through investment in listed and non-listed equity securities of Philippine and non-Philippine companies. Investment in securities abroad shall be limited to 20% of the Fund’s net asset value.
Largest Institutional Investor-Customers (in alphabetical order, as of end-June 2007):
AsianLife and General Assurance Corp (ALGA)
AsianLife Financial Assurance Corp (ALFA)
Bangko Sentral ng Pilipinas (BSP) Provident Fund
Delcor Investment Corp.
Kalayaan sa Kakapusan Cooperative (KsK)
Land Bank of the Philippines (LBP) - Trust Banking Group
Provident Fund of Securities and Exchange Commission (SEC) Employees
External Auditor: Isla Lipana & Co. (affiliated with PriceWaterhouseCoopers)
The ATR KimEng Money Market Fund
Investment Objective: Established in 2004, this mutual fund is designed to seek a return through investments in fixed income securities of Philippine and non-Philippine companies and debt obligations of the Government of the Republic of the Philippines and its instrumentalities.
Largest Institutional Investor-Customers (in alphabetical order, as of end-June 2007):
AsianLife Financial Assurance Corp (ALFA)
Manila Science High School Alumni Foundation, Inc.
Provident Fund of Securities and Exchange Commission (SEC) Employees
The MFMCP-Aizawa Trust Philippine Fund is a Cayman Islands-domiciled, US Dollar-denominated, open-ended series trust. This fund’s trust manager is FC Investments, Ltd., a subsidiary of Aizawa Securities Co. Ltd., and its sole distributor is Aizawa Securities Co. Ltd. MFMCP is not authorized to directly sell this fund to its investors.
Investment Objective: Established in 2007, this series trust seeks income and long-term capital appreciation at a reasonable level of risk through investment in: (a) equity, equity-related, and fixed-income securities issued by Philippine companies and publicly-traded companies (listed in the Philippines or elsewhere) with operations in the Philippines; (b) funds investing in such securities or options related thereto; and (c) cash or near-cash instruments such as treasury debt.
Largest Institutional Investor-Customers :
Not Disclosed
Board of Directors (and their affiliations):
Not applicable. This series trust has no board.
External Auditor:Ernst & Young Cayman IslandsBACK TO TOP
The Mutual Fund Management Company of the Philippines, Inc. is a member of the ATR KimEng Group, one of the leading diversified investment houses in the Philippines. The group is principally involved in: corporate finance and advisory services (equity IPOs and secondary offers, bond underwriting, mergers and acquisitions); stockbroking and equity research; life and general insurance; asset management (mutual funds and trust services); insurance broking; foreign exchange and fixed income broking; and real estate development. Group parent ATR KimEng Financial Corp. is listed on the Philippine Stock Exchange (ticker: ATRK), and is controlled and managed by Filipino interests. For more details, please visit http://atrkimeng.com/ or click here to view or download ATR KimEng Financial Corp.'s 2006 Annual Report, or click here to view or download ATR KimEng Financial Corp.'s 2006 SEC Form 17-A
MFMCP's sister firm ATR KimEng Securities, Inc. is the largest Filipino-controlled stockbroker. In 2007, it ranked 4th in trading volume on the Philippine Stock Exchange, with
total turnover of PHP 193 billion; this broker grew faster than the industry
average during 2007, thus climbing from the rank of 6th in 2006. ATR KimEng Securities was named the Best Broker in the Philippines in 2006 by FinanceAsia and the Best Domestic Brokerage House in the Philippines in 2004 and 2005 by The Asset Magazine. Prior to 1997, ATR KimEng Securities was operating as Peregrine Securities (Philippines), Inc., and ATR KimEng Capital Partners, Inc. was investment bank Peregrine Capital, Inc. The ATR KimEng Group's long experience in the stock market is a key source of its competitive advantage in managing equity and balanced mutual funds.
Other important members of the ATR KimEng Group are: AsianLife and General Assurance Corp. (“ALGA”, which was previously the Philippine operation of GE Life Insurance Co.; for more details, visit www.asianlife.com.ph); AsianLife Financial Assurance Corp. ("ALFA", formerly known as All Asia Life); Tullett Prebon Philippines, Inc.; ATR KimEng Insurance Brokers, Inc.; and ATR KimEng Land Corp.
A controlling block (45%) of ATR KimEng Financial Corp. is owned by ATR Holdings, Inc., a privately-held Filipino corporation.
A significant minority (39%) of ATR KimEng Financial Corp. is owned by KimEng Holdings Ltd. of Singapore. This partnership provides the ATR KimEng Group distribution access to the international capital markets. Established in 1972 and listed on the Stock Exchange of Singapore, KimEng Holdings Ltd. is the leading independent stockbroking house in Singapore, offering equity trading and research, corporate finance, asset management, fiduciary services, and hedge fund operations spanning Hong Kong, Indonesia, South Korea, London, Malaysia, New York, the Philippines, Taiwan and Thailand. For more details, please visit www.kimeng.com.
The remaining 16% of ATR KimEng Financial Corp. is owned by the public, and is considered free float.
MFMCP's founding shareholder, Clemente Fund Management Asia Ltd. is a subsidiary of Clemente Capital, Inc., a private equity, asset management, and investment advisory firm headquartered in New York and with significant operations in Beijing. Its Filipino principals, Ms. Lilia Clemente and Mr. Leo Clemente, are well regarded in emerging markets investment circles in the U.S. For more details, please visit www.clementecapital.com.
Established in 1918, Aizawa Securities Co. Ltd. is a member of both the Tokyo Stock Exchange and the Osaka Stock Exchange, and is primarily involved in the trading of equities, options and futures. The Group serves the Japanese retail investor market via more than 40 brokerage branches clustered mostly in the Tokyo and Osaka areas. Other subsidiaries of the Group are engaged in real estate leasing and asset management. The Group's asset management business includes country funds and real estate investment trusts (REITs). The Group has successfully launched other country funds, which are managed by Cayman Islands-based subsidiary Fund Creation Co. Ltd., and are presently invested in China, Viet Nam and Thailand, and now the Philippines as well. For more details on the Group, please click here to view Aizawa Securities' company profile or
visit www.aizawabtc.com and www.fundcreation.co.jp/en.