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UITF Philippines Returns 2012The year 2012 was, no doubt, a good year for investments. Philippine stocks, mutual funds, and — as we can see in the fund performance table below — unit investment trust funds as well registered new highs compared to the preceding year.

Last year’s outstanding returns were to be expected. Coming from a depressing run in 2011, where Philippine equities grew by a mere 4.07%, the small base surely provided a solid opportunity for funds to grow.

Of course, this performance could not happen without the Philippines’ strong macroeconomic fundamentals, so credit must go to the country’s economic managers who strove hard to cushion the impact of external threats from declining economies such as the United States, Europe and China.

Most unit investment trust funds (UITFs) across all categories generated positive returns, although not all funds were able to beat their benchmark. In the case of Peso Equity Funds, only one-fifth or exactly three funds were able to outperform the Philippine Stock Exchange index (PSEi)’s full-year return of 32.95% in 2012.

The prevalence of underperforming funds again makes a good case for Exchange Traded Funds (ETF) that are soon to be launched in the Philippines. ETFs, as open-ended investment funds that attempt to track an index’s performance, might prove to be better alternatives to actively-traded UITFs and mutual funds that fail to beat the benchmark index.

In the Peso Equity category, UnionBank of the Philippines again led other UITFs, generating 50.13% year-on-year return from January 25, 2012 until January 25, 2013.

Last year’s top equity performer — BPI’s High Conviction Equity Fund – was no doubt a disappointment, growing a meager 5.71% settling at the bottom of the barrel. The fund, previously acquired from ING, looks almost certainly headed for a phaseout or a possible integration with BPI’s other equity fund.

Stocks, Mutual Funds, Forex, Finance Philippines

We were unable to get the exact 2012 fund returns from the Trust Officers Association of the Philippines since their official site, www.uitf.com.ph, is gone. We decided to use Bloomberg data and the figures we show below refer to year-on-year data, that is, from January 25, 2012 to January 25, 2013.

We also are showing the 3-year and 5-year returns of UITFs in order to give investors an idea of how consistent the returns of various funds have been in the past years.

RETURNS OF UNIT INVESTMENT TRUST FUNDS (UITF) IN THE PHILIPPINES

Peso Equity UITFsFund Name2012-2013 YoY3-Year Return5-Year ReturnInception Date
Unionbank of the PhilippinesLarge Capitalization Philippine Equity Portfolio50.13%47.52%29.83%March 1, 2005
Allied Banking CorporationAllied Unit Performance Equities Fund33.89%17.33%8.81%February 26, 2007
Banco de OroBDO Institutional Equity Fund33.12%29.66%16.29%June 15, 2005
Philippine National BankEnhanced PSEi Reference Fund32.08%10.56%5.57%August 30, 2006
Banco de OroBDO Peso Equity Fund (EPCIB Equity Fund)31.82%29.29%15.79%May 3, 2005
Metropolitan Bank and Trust CompanyMetro Equity Fund31.29%26.29%17.11%March 1, 2007
Security Bank CorporationSB Peso Equity Fund31.21%No dataNo dataFebruary 1, 2010
AB Capital and Investment Corp.AB Capital Equity Fund30.74%27.69%16.94%December 4, 2006
Asia United Bank-TIGAUB Equity Investment Fund27.75%18.27%12.68%May 4, 2006
United Coconut Planters BankUnited Equity Fund27.27%38.67%25.28%January 2, 2007
Rizal Commercial Banking CorporationRCBC Rizal Equity Fund (Tiger Equity Fund)23.26%23.55%14.99%March 28, 2005
Bank of the Philippine IslandsBPI Equity Value Fund18.29%22.08%8.85%March 31, 2005
Bank of the Philippine IslandsOdyssey Philippine Equity Fund14.56%25.60%13.80%May 5, 2003
Bank of the Philippine IslandsOdyssey Philippine High Conviction Equity Fund5.71%31.85%18.22%February 1, 2007
Philippine Bank of CommunicationsValue Equity FundNo dataNo dataNo dataNo data
Philippine National BankHigh Dividend FundNo dataNo dataNo dataJune 15, 2012

Peso Balanced UITFsFund Name2012-2013 YoY3-Year Return5-Year ReturnInception Date
Unionbank of the PhilippinesUnionbank Peso Balanced Portfolio24.77%No dataNo dataFebruary 15, 2011
Banco de OroBDO Peso Balanced Fund24.24%23.86%10.45%July 3, 2003
Security Bank CorporationSB Peso Asset Variety Fund23.46%20.43%12.66%October 9, 2006
United Coconut Planters BankUnited Balanced Fund19.38%25.15%17.33%January 2, 2007
Metropolitan Bank and Trust CompanyMetro Balanced Fund18.99%18.29%11.90%April 8, 2005
BPIBalanced Fund17.63%18.17%9.39%April 1, 2005
China Banking CorporationChinabank Balanced Fund16.23%No dataNo dataFebruary 18, 2011
BPI (formerly managed by ING)Odyssey Diversified Balanced Fund14.65%21.10%12.03%May 12, 2006
Philippine National BankMabuhay Prestige13.40%12.23%7.01%March 8, 2006
Landbank of the PhilippinesGrowth Fund12.28%14.45%11.31%March 24, 2006
BPI (formerly managed by ING)Odyssey Diversified Capital Fund11.91%17.69%10.68%December 4, 2006
Robinsons BankRbank Balanced Fund11.41%No dataNo dataMarch 28,2008
Development Bank of the PhilippinesGintong Sikap Secure Fund2.34%2.44%2.74%August 8, 2006
Philippine Bank of CommunicationsBest Balanced FundNo dataNo dataNo dataNo data
RCBCRizal Balanced FundNo dataNo dataNo dataJune 19, 2009

Peso Long-Term Bond UITFsFund Name2012-2013 YoY3-Year Return5-Year ReturnInception Date
BPI (formerly managed by ING)Odyssey Peso Bond Fund9.74%12.59%8.76%May 5, 2003
Unionbank of the PhilippinesUBP Long Term Current Income Portfolio7.82%10.05%8.44%June 1, 2005
Landbank of the PhilippinesGovernment Securities - Fixed Income Fund7.71%6.62%4.90%March 13, 2006
RCBCRizal Peso Bond Fund (vice Unicorn Fund)6.70%6.63%5.72%March 28, 2005
East West Banking Corp.Infinity Peso Long-Term Bond Fund5.32%5.50%4.55%March 1, 2007
Bank of CommerceBancommerce Peso Trust Fund0.75%2.89%4.45%March 10, 2005
United Coconut Planters BankUnited Conservative FundNo dataNo dataNo dataMay 27, 2005

Peso Intermediate-Term Bond UITFsFund Name2012-2013 YoY3-Year Return5-Year ReturnInception Date
East West Banking Corp.Infinity Peso Intermediate Bond Fund7.97%No dataNo dataFebruary 18, 2005
BPIPremium Bond Fund5.68%6.03%5.03%April 4, 2005
Banco de OroBDO Peso Bond Fund5.22%6.14%5.90%April 1, 2005
Philippine National BankMabuhay Plus4.86%4.68%3.83%October 3, 2005
Unionbank of the PhilippinesCurrent Income Portfolio (T-Bill 91)4.85%8.12%8.76%June 1, 2005
Metropolitan Bank and Trust CompanyMetro Max-3 Bond Fund4.72%5.61%5.20%April 8, 2005
Philippine National BankDream Builder3.57%3.23%No dataDecember 3, 2008
Unionbank of the PhilippinesInfinity Prime Fund3.45%6.43%6.16%September 29, 2006
Metropolitan Bank and Trust CompanyMetro Invest Plus2.73%4.14%4.38%April 26, 2005

Peso Medium Term UITFsFund Name2012-2013 YoY3-Year Return5-Year ReturnInception Date
China Banking CorporationChinabank GS Fund7.75%7.12%6.10%March 24, 2006
Banco de OroGS Fund7.68%8.95%6.83%May 3, 2005
Asia United BankAUB Peso Investment Fund7.61%8.00%6.28%May 2, 2005
Banco de OroBDO Fixed Income Fund7.11%8.27%6.81%April 29, 2005
Unionbank of the PhilippinesUBP Philippine Peso Bond Portfolio6.67%9.37%8.48%January 2, 2004
Metropolitan Bank and Trust CompanyMetro Max-5 Bond Fund5.94%6.79%5.57%April 6, 2005
Allied Banking CorporationAllied Unit Performance GS Fund5.45%4.94%3.76%February 16, 2006
Philippine Business BankDiamond Fund UITFNo dataNo dataNo dataNov. 14, 2005
Robinsons BankRbank Blue Peso Fixed Income FundNo dataNo dataNo dataMarch 17, 2006

Peso Money Market UITFsFund Name2012-2013 YoY3-Year Return5-Year ReturnInception Date
Security Bank CorporationSB Secure Peso Fund9.69%5.44%4.58%July 1, 2005
Unionbank of the PhilippinesUBP Peso Money Market Porfolio3.41%No dataNo dataFebruary 8, 2006
Metropolitan Bank and Trust CompanyMetro Money Market Fund3.28%No dataNo dataApril 6, 2005
Philippine National BankPNB Global Filipino - Peso Fund3.25%2.92%2.80%January 11, 2006
Banco de OroBDO Peso Money Market Fund3.13%3.37%3.63%April 1, 2005
Philippine National BankMabuhay Prime3.10%-2.65%-0.64%September 27, 2010
East West Banking Corp.Infinity Money Market Bond Fund2.91%No dataNo dataMarch 1, 2007
RCBCRizal Peso Money Market Fund (vice Dragon Fund)2.83%3.08%3.53%March 28, 2005
BPIShort-Term Fund2.80%2.89%3.05%April 4, 2005
China Banking CorporationChinabank Money Market Fund2.79%No dataNo dataFebruary 20, 2009
Philippine Bank of CommunicationsSignature Trust Fund2.63%2.83%3.10%August 4, 2005
BPI (formerly managed by ING)Odyssey Peso Cash Management Fund2.31%3.08%3.37%April 25, 2005
RCBC Savings BankMolave Fund2.21%No dataNo dataApril 25, 2005
Security Bank CorporationSB Secure Ease Fund2.21%2.41%2.74%October 9, 2006
Sterling Bank of AsiaSterling Money Market FundNo dataNo dataNo dataApril 7, 2009
United Coconut Planters BankUnited Cash Management FundNo dataNo dataNo dataNovember 17, 2006

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

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