Author Topic: BPI-ING Odyssey UITF Funds (Read 24181 times)

biginvestor123 · « **on:** Aug 09, 2011, 09:19 PM »

Does anyone know where to purchase them? Thanks.

nanashi · « **Reply #1 on:** Aug 09, 2011, 10:12 PM »

BPI Branches

j_l · « **Reply #2 on:** Aug 17, 2011, 04:14 PM »

Doe's anyone really have tried this, most especially in BPI?

I have inquired in BPI - Ortigas regarding this but they say that it is still not available in the whole Bpi. Although there are prices shown in their website, even its performances. They say if i want to have a odyssey uitf, i must go directly to ING in makati which the teller thinks has a 1M or 5M minimum initial investment compared to the 10k minimum investment in Bpi. They say that the odyssey uitf is not yet executory in Bpi(as the teller says). Is it true? Coz it has been months, i think since march...... The prices of odyssey's are being showned in their website and they are continuously updating the prices everyday and then they say it is not yet offered/ available. I am a bit skeptical about this........

Anyone who is knowledgeable about this.............please enlighten me. Thnx!!!

FutureGizmo · « **Reply #3 on:** Aug 17, 2011, 04:30 PM »

Odyssey UITFs were managed by ING but after BPI's acquisition of ING Trust Group in the Philippines, Odyssey funds will now be part of the BPI UITF portfolio. Until now, though, they are still in the process of consolidating everything that's why the funds are still not available via BPI.

I spoke to an ING manager 2 weeks ago and she told me Odyssey funds will soon be offered to retail investors through BPI branches and they might bring down the minimum investment amount from P1 million to only P10,000. But then again, nothing's final until we see it. And how "soon" it really is, we don't know but she said before the end of the year.

kiplinger · « **Reply #4 on:** Aug 17, 2011, 04:39 PM »

Odyssey Funds are also available to Citigold/Citibank clients. Am just not sure if minimum placements are as high as BPIs though I was able to get some for less.

mutual_man · « **Reply #5 on:** Aug 17, 2011, 05:26 PM »

I also invested with ING/Odyssey High Conviction Equity fund through HSBC Premier but after BPI acquisition of ING Trust Fund they also stop accepting new or additional investment though i can still continue my previous investment with them through HSBC. In terms of performance , i think they are No.1 in the country both in UITF and MF combine. I had gain a handsome return on my invesment coz i place my investment during the 2008 global financial crisis and even now their year to date return is almost 30% way above the PSE index.

biginvestor123 · « **Reply #6 on:** Aug 18, 2011, 12:47 AM »

Quote from: j_l on Aug 17, 2011, 04:14 PM

Doe's anyone really have tried this, most especially in BPI?

I have inquired in BPI - Ortigas regarding this but they say that it is still not available in the whole Bpi. Although there are prices shown in their website, even its performances. They say if i want to have a odyssey uitf, i must go directly to ING in makati which the teller thinks has a 1M or 5M minimum initial investment compared to the 10k minimum investment in Bpi. They say that the odyssey uitf is not yet executory in Bpi(as the teller says). Is it true? Coz it has been months, i think since march...... The prices of odyssey's are being showned in their website and they are continuously updating the prices everyday and then they say it is not yet offered/ available. I am a bit skeptical about this........

Anyone who is knowledgeable about this.............please enlighten me. Thnx!!!

Another example of how clueless these bank people are about uitfs.... on the bpi website, there is a pdf file for each fund available and I checked the min. deposit and it says 10000...

ODYSSEY PHILIPPINE EQUITY FUND

This investment fund seeks to achieve long-term capital growth in Philippine Peso terms by investing in a portfolio of stocks listed in the Philippine Stock Exchange. The return objective of the Fund is to outperform (gross of fees) the benchmark, Philippine Stock Exchange Index (PSEi).

Fund Name       Odyssey Philippine Equity Fund
Base Currency       Philippines Peso
Launch Date       May 5, 2003
Minimum Initial Investment       PhP10,000
Minimum transaction amount       PhP5,000
Minimum Holding Period       15 calendar days
Early Redemption Penalty       1.00% of the redemption amount
Trust Fee       2.00% p.a.
Valuation of the Fund       Marked-to-Market Daily

Source: http://www.bpiassetmanagement.com/odyssey-funds-odyssey-philippine-equity-fund.html

tyronesolee · « **Reply #7 on:** Aug 18, 2011, 03:19 AM »

For the benefit of all, Odyssey Funds are currently not available to BPI. I also talked to BPI Asset Management in charge of the Odyssey Funds before and he said that they are still doing a road show on different branches informing people on each branch how it can be implemented to be available on public.

As of now, it's not yet available to public on BPI branches. For interested investors, they can go to the retail office of BPI at Ayala Tower One but the minimum capital is huge - P5 Million! If this would become available to BPI branches, their minimum is 10k for all peso funds and 1k for all dollar funds.

However... Odyssey Funds are now available to Citibank! BUT their minimum capital is way larger! Citibank is a partner of BPI. For all peso funds, their minimum is 100K. For dollar funds, their minimum is 2k except for asia pacific equity which is 5k.

TAKE NOTE also that each fund has a corresponding entry fee which will be deducted upfront upon investment. Balanced funds have 2% entry fee while equity funds have 2.5%. Bond Fund is at 1.50%. This is at Citibank. I don't know if this will also be the rate of BPI once implemented on their branches.

So with these entry fees, you should not redeem your investments first even if they have shorter holding periods. Make sure that the interest gained is higher than the entry fees before you redeem it for you to have an interest income in this type of UITF investment (well actually, all UITFs of banks have a corresponding entry fees now. I remember back then when I invested way back in 2008, no entry fees yet and this is the main advantage of UITFs over Mutual Funds before)

I hope this helps! I am one of the investors who's also waiting for this. I would definitely be blogging this also in my blog "Millionaire Acts" once implemented in all BPI branches but as of the moment, for those who cannot afford the minimum million investment, you can inquire at Citibank for these Odyssey Funds for a minimum initial investment amount of 100K (peso) and 2K for dollar

GoodSteward · « **Reply #8 on:** Aug 18, 2011, 08:32 AM »

^Are the entry fees, if indeed true, reflected in the NAVPU of the UITF? Since when did it start?

I only know of Union bank that has entry fees coz you buy and redeem based on their offer and bid price respectively. I fell into that though.

I still believe there are no entry fees in other UITFs that I have account with like BDO and AUB.

mxherr5 · « **Reply #9 on:** Aug 18, 2011, 03:41 PM »

Maybe that's because Citibank is acting as a broker/dealer
so that's the way they profit.

Anyway, I'm hoping there won't be a fee.
Afterall, only BPI has a truly no load mutual fund.
I hope they keep true with Odyssey

MarcoAntonio · « **Reply #10 on:** Aug 24, 2011, 11:43 AM »

This is not yet available in BPI/BPI Family Branches, try to visit http://www.bpiassetmanagement.com/contact-us.aspx

I asked them before how much is the initial investment, according to the them it's 1M

But this will be available in BPI/BPI Family Branches soon

palailai · « **Reply #11 on:** Sep 03, 2011, 01:30 PM »

Odyssey Funds is now available in all BPI branches nationwide....subscribe na! now na!!

mxherr5 · « **Reply #12 on:** Sep 03, 2011, 02:39 PM »

Other threads said that the minimum is in the millions back when
it when it wasn't available.

Is it now 10k?

Thanks

Post Merge: Sep 03, 2011, 02:51 PM

Nevermind, found this http://www.bpiassetmanagement.com/upload/files/FAQ%20for%20Odyssey%20Investors.pdf

It is 10k now but it says there's a sales load =(
Too bad

rounder_dave · « **Reply #13 on:** Sep 03, 2011, 09:14 PM »

can we get odyssey uitfs through bpionline?

mxherr5 · « **Reply #14 on:** Sep 03, 2011, 10:32 PM »

Dave, I don't mean to be rude but did you bother to read the link I had posted, its straight from BPI.

Anyway, if you had read that, numbers 5 and 7 say that it is available thru Express Online.

Hope that helped