2010 3rd Quarter – UITF Performance

It looks like Peso Unit Investment Trust Funds (UITF) in the Philippines are poised to duplicate, if not surpass, their 2009 performance.

Last year, majority of equity funds ended the year with above-average returns of at least 50%. As of the third quarter of the year 2010, several funds have already beat this, with more funds not far behind. And there’s three more months remaining before the end of 2010.

The Large Cap fund of Unionbank of the Philippines (UBP) is on top with 78.9% return, while United Coconut Planters Bank’s Equity UITF and ING’s High Conviction Equity Fund at 2nd and 3rd place, with returns of 60.99% and 60.3%, respectively.

What are UITFs?

A Unit Investment Trust Fund or UITF is “trust” product, meaning, the entity offering the UITF (the trustee) administers the fund in behalf of individuals (trustors) whose resources have been combined into the fund. It is usually offered by a bank or financial institution but, as a non-deposit product, is not guaranteed by the Philippine Deposit Insurance Corporation or PDIC.

To understand how UITFs differ from Mutual Funds, read the article Differences between UITF and Mutual Funds

Below is the complete list of the performance of Philippine Unit Investment Trust Funds (UITF) from January to September 2010.

YEAR-TO-DATE PERFORMANCE OF PESO UITFs IN THE PHILIPPINES
As of the 3rd Quarter of 2010 (January to September 2010)

PESO EQUITY FUNDS (primarily invested in equity securities)

1. Unionbank (UBP) Large Cap Philippine Equity – 78.91%
2. UCPB United Equity Fund – 60.99%
3. ING Philippine High Conviction Equity Fund – 60.30%
4. Banco de Oro (BDO) Equity Fund – 44.49%
5. BDO Peso Equity Fund – 43.87%
6. ING Philippine Equity Fund – 42.30%
7. Metrobank Metro Equity Fund – 37.09%
8. RCBC Rizal Equity Fund – 36.08%
9. Bank of the Philippine Islands (BPI) Equity Fund – 35.73%
10. AB Capital Equity Fund – 30.53%
11. Allied Bank Unit Performance Equities Fund – 20.92%
12. Asia United Bank (AUB) Equity Investment Fund – 18.88%
13. ING Asia Pacific High Dividend Equity Fund – 7.80%
14. BPI Global Equity Fund – 1.54%
15. Philippine National Bank (PNB) Enhanced PSEi Reference Fund – No data
16. Security Bank (SB) Peso Equity Fund – No data

PESO BALANCED FUNDS (primarily invested in debt and equity securities)

1. BDO Peso Balance Fund – 35.79%
2. UCPB United Balanced Fund – 33.15%
3. BPI Balanced Fund – 28.96%
4. RCBC Rizal Balanced Fund – 28.04%
5. ING Diversified Balanced Fund – 27.61%
6. Landbank of the Phils. Growth Fund – 25.14%
7. Metrobank Metro Capital Growth Fund – 22.24%
8. ING Diversified Capital Fund – 20.42%
9. Security Bank (SB) Peso Asset Variety Fund – 20.00%
10. Robinsons Bank (RBank) Balanced Fund – 10.85%
11. DBP Gintong Sikap Secure Fund – 2.01%
12. PNB Mabuhay Prestige – No data

PESO BOND FUNDS (primarily invested in fixed-income securities)

A. Long-Term Funds (duration of more than 5 years)

1. UBP Long Term Current Income Portfolio – 8.80%
2. RCBC Rizal Peso Bond Fund – 6.50%
3. Landbank GS-FI Fund – 4.22%
4. Bank of Commerce Peso Trust Fund – 4.18%
5. East-West Bank Infinity Long-Term Bond Fund – 3.81%
6. UCPB United Conservative Fund – 2.05%

B. Medium-Term Funds (duration of up to 5 years)

1. ING Peso Bond Fund (UITF) – 9.81%
2. UBP Philippine Peso Bond Portfolio – 9.53%
3. BDO Fixed Income Fund – 8.51%
4. BPI ABF PBIF – 7.95%
5. BDO GS Fund – 7.81%
6. Metrobank Metrofund Peak Earner – 4.50%
7. AUB Peso Investment Fund – 4.33%
8. Chinabank GS Fund – 3.72%
9. PNB Diamond Fund – A UITF – 3.34%
10. Robinsons Bank Blue Peso Fixed Income Fund – 3.10%
11. Allied Bank Unit Performance GS Fund – 2.87%
12. Export and Industry Bank Expert Fund – 0.88%
13. pnb Diamond Fund A UITF – No data
14. PNB Mabuhay Prime -No data

C. Intermediate-Term Funds (duration of up to 3 years)

1. UBP Current Income Portfolio (T-Bill 91) – 8.84%
2. UBP Infinity Prime Fund – 7.40%
3. BDO Peso Bond Fund – 6.80%
4. BPI Premium Bond Fund – 4.44%
5. East West Bank Trust Maximizer UITF – 3.87%
6. Metrobank Metrofund Elite – 3.73%
7. Metrobank  Metro Invest Plus – ??3.52%
8. PNB Mabuhay Plus – 3.33%
9. PNB Dream Builder – 1.88%
10. PNB Peso Punla – 1.69%
11. ING Peso Income Fund – 0.16%

MONEY MARKET FUNDS (primarily invested in short-term securities)

1. BDO Peso Money Market Fund – 2.64%
2. ING Peso Cash Management Fund (UITF) – 2.52%
3. RCBC Rizal Peso Money Market Fund – 2.51%
4. BPI Short-Term Fund – 2.15%
5. PBComm Signature Trust Fund – 2.11%
6. Metrobank Metrofund Starter – 2.08%
7. Chinabank Money Market Fund – 2.07%
8. Sterling Bank of Asia Money Market Fund – 2.00%
9. UCPB United Cash Management Fund – 1.93%
10. RCBC Savings Bank Molave Fund – 1.89%
11. Security Bank Peso Ease Fund – 1.87%
12. Security Bank Secure Peso Fund – 1.86%
13. East West Bank Infinity Money Market Bond Fund – 1.66%
14. UBP Peso Money Market Porfolio – 1.65%

* Source: Trust Officers Association of the Philippines (TOAP)

Disclaimer: Although the rate of return is a good measure of performance, other things such as consistency of return and exposure to risks must also be considered. Note that past performance of a fund is not and cannot be a guarantee of future returns.

Related Articles:

• 2009 Peso UITF Performance Report
• Comparison between UITF and Mutual Funds
• 2009 Performance of Philippine Mutual Funds
• Investing in Mutual Funds
• Discussion Forum: Mutual Funds and UITF

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