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Author Topic: High Watermark by BPI-Philam - any opinion on this?  (Read 20827 times)

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Offline paulkaylupit

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High Watermark by BPI-Philam - any opinion on this?
« on: Feb 11, 2010, 10:53 AM »
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Newby here, pasensya na po kung dko alam kung saan ipapasok na topic yung question ko.

I was recently approached by bpi about my USDollar Time Deposit if I was interested with their new product. It's called Max Yield 1 having High Watermark feature (nakita ko ito sa isang topic for bdo also). Maturity is 9 yrs, may corresponding charges if you withdraw prior to maturity. It includes 125% life and accident insurance also.

This is a joint venture of bpi and PhilaAm. BPI will be investing to Barclays PLC. Mukhang suitable nman sakin yung investment scheme because I'm actually looking for a long term investment. Actually, I was looking into Bonds or T-bills. But this looks ok with it's hmw feature.

Any opinion on this guys?

Mamayang 1PM pinapunta ko na yung rep from BPI-Philam because I'm just about to sign the forms I've been studying yesterday. Buti nakita ko forum nyo, very helpful.
:thankyou:


Offline bauer

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Re: High Watermark by BPI-Philam - any opinion on this?
« Reply #1 on: Feb 11, 2010, 11:08 AM »
please check with bpi the following:

1. Is it covered by PDIC?
2. who will control the funds? bpi, philam, or barclay?
3. in case you will not complete the 9-year fixed term, how much is the penalty or surcharge fee?  if there is no surcharge, how low the interest will be?
4. is the interest rate floating? or fixed but not guaranteed, or fixed and guaranteed?
5. who will return to you the money? bpi, philam, etc.

please check the fine details of the forms to be sure.

good luck po
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Offline silent_investor

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Re: High Watermark by BPI-Philam - any opinion on this?
« Reply #2 on: Feb 18, 2010, 06:41 PM »
Hmmm, I'm definitely late in replying to your query hehehe But got to see that product when it was still offered under PELAC (tie up of philam and equitable bank/BDO). It was being offered to me last year as a new product (kasi may tao sila sa BDO where I bank). I guess inabot sila ng paglipat to BPI kaya di ko na uli nakita yung ahente.

Anyway, maganda yung sinabi ni Bauer. Actually ako, nagka interest talaga. Pero sobrang long term at di mo pa sure kung ano resulta, wala ka mapag basehan. Sa high water mark kasi, pag mature ng plan mo, you'll get the highest NAVPU achieved during your term. For example, bumili ka sa 1.00 na NAVPU, umakyat sa 1.5 after 3 years then pag mature ng plan mo, bumagsak sa .90 ang NAVPU. Sa computation nila ng pera mo, the highest NAVPU daw ang gagamitin, thus 1.5. Eto na, nung tinanong ko kung saan naka invest, di ako masagot. Kasi kung stocks, ok yun, i'm sure over 10 years may high and lows di ba. Kung matapat ka sa low, pwede mo asahan na yung high price pa rin ang gamitin. E paano kung puro time deposit lang? E di ang liit lang ng galaw nun. Parang useless yung high water mark nila.

Offline bauer

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Re: High Watermark by BPI-Philam - any opinion on this?
« Reply #3 on: Feb 22, 2010, 01:24 PM »
sana nga totoo yung promise nila na highest NAVPU ang gagamitin na basis because i seriously doubt if it is inidcated in the written contract
Posted on: Feb 22, 2010, 01:23 PM
silent investor,

i think your analysis is correct
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Offline madoff

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Re: High Watermark by BPI-Philam - any opinion on this?
« Reply #4 on: Feb 22, 2010, 06:16 PM »
Quote
Kasi kung stocks, ok yun, i'm sure over 10 years may high and lows di ba. Kung matapat ka sa low, pwede mo asahan na yung high price pa rin ang gamitin. E paano kung puro time deposit lang? E di ang liit lang ng galaw nun. Parang useless yung high water mark nila.


At kung sa stocks naman, pano kung pag mature ng plans nasa peak ng bear market cycle, at hindi sapat yung gains from the bull cycle to pay for the maturing plans, e di dudukot sila sa pera ng new investors, di ba parang sistema ni tukayo (madoff) ko yun?

Offline silent_investor

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Re: High Watermark by BPI-Philam - any opinion on this?
« Reply #5 on: Feb 24, 2010, 05:47 PM »
Thanks Bauer! Tama rin si Madoff kaya malamang di stocks ang investment nun.

IMO, time deposits and fixed income instruments lang ito para di ganun kagalaw. Pwede rin na may malaking part sila ni ilagay in cash deposits lang para di mag fluctuate ng malaki yung NAVPS. Sana may actual investor na mag post dito para ma-interview natin.

Offline ian.mancilla

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Re: High Watermark by BPI-Philam - any opinion on this?
« Reply #6 on: Feb 25, 2010, 11:39 PM »
« Last Edit: Feb 26, 2010, 12:06 AM by ian.mancilla »

Offline bauer

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Re: High Watermark by BPI-Philam - any opinion on this?
« Reply #7 on: Feb 26, 2010, 01:06 PM »
ian.mancilla

are you working for bpi-philam? barclays?

when we posts our comments here, we give our opinion because of the experiences we had with several financial firms regarding various financial products.  to give you a point,

i have an insurance with Philam and they failed to keep their promise that i will just pay in 9 years only.  I'm now in my 12th year of payment.  

i have an investment fund with BPI and they failed on their promise that my funds will be invested in global equities.

regarding barclay, check them because they are one of the banks that got a bail out money due to the global financial crises.

we just wanted readers of this posts to understand all possible risks in various money deals being offered to them.
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Offline ian.mancilla

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Re: High Watermark by BPI-Philam - any opinion on this?
« Reply #8 on: Feb 26, 2010, 05:28 PM »
« Last Edit: Feb 26, 2010, 05:35 PM by ian.mancilla »

Offline bauer

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Re: High Watermark by BPI-Philam - any opinion on this?
« Reply #9 on: Mar 01, 2010, 05:19 PM »
i can explained everything to you in detail if you can help in resolving my issues with philam and bpi.

fyi, i already emphasized my disgust with the then CEO Mr. Cuisia (philam) and the VP of bpi asset management.  
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Offline charnel

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Re: High Watermark by BPI-Philam - any opinion on this?
« Reply #10 on: Mar 02, 2010, 06:08 AM »
got my philam hwm daw invested already 525$ then disappointed ako kasi di naexplain or sadyang di sinabi ng agent na out of 500 ay 200 lang ang pupunta sa investment at ang 325 ay sa insurance daw pala napunta, which of course pag nagmature by 2019 at kinuha mo ang pera mo ay sa pure investment lang ang kukunin mo at ang insurance ay mawawala na....I'm soooo disappointed feeling ko talaga I was tricked on this kasi nga ayaw ko ng insurance na sabi ko sa agent kaya siguro di sinabi yun ganun kaya mag ingat na lang kayo I'm thinking to pull out nga yun kahit konti mabawi ko na lang,kasi may money tree $ na ako sa philam kung alam ko lang doon ko na lang pinasok at nadagdagan pa ang aking investment doon....Mga agents will always do the tricking para makuha kayo annual ka pang magbabayad doon....

Offline maryan

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Re: High Watermark by BPI-Philam - any opinion on this?
« Reply #11 on: Mar 03, 2010, 04:03 PM »
regarding sa maxyield1 is it really ok to invest? it is not covered with pdic can the investor get back the full amount originally invested or pag nagka problem pwede rin bang total  loss of investment. i just want to ask mr. bauer what is the possible worst scenario para hindi mo na makuha ang investment mo? thank you.

Offline bauer

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Re: High Watermark by BPI-Philam - any opinion on this?
« Reply #12 on: Mar 03, 2010, 04:58 PM »
hi maryan,

generally speaking, only checking & savings account in all licensed banks are covered by PDIC up to 500,000 per depositor per bank (not accounts).  Before, all kinds of time deposits are covered by PDIC but due to the 'legacy banks closure', a new revised PDIC law was put into effect that makes it more stringent to qualify for PDIC coverage.

to give you an example,
bank ABC offers a time deposit that has a fixed yield of 15% per annum.  but, when the average time deposit rates in all other banks is about 8% per annum, then bank ABC time deposit is technically not covered by PDIC because the new law requires that interest rate offered on time deposit must NOT exceed 50% of the average interest rate offered by other banks.

our new law has now made life more difficult for depositors that do not have the technical skills to evaluate if the time deposit certificates offered by banks are really covered by PDIC.

if your maxiyield1 is offered by BPI (im not sure), how was the interest? Is it within reason?  you can directly ask them if it is covered by PDIC.  If not, your risk is this, just in case BPI will close tomorrow, i think the government will bail them out so your money is secured.  The only problem will be if the person elected as president of our country and he/she is an enemy to the bpi owners, then more or less, it will definitely go bankrupt.  in this case, most likely, you will not recover your money.
Posted on: Mar 03, 2010, 04:50 PM
another point,  if maxyield 1 will be run and manage by barclays (which is not controlled by our government), then barclays will go bankrupt, Do you have a written assurance from BPI that you will be reimbursed from the unexpected closure of barclays?

when lehman brothers failed in the US, some of our local banks like metrobank, BPI, BDO had some exposure or investment with lehman.  Those investments had to be 'written off' (in layman, linista sa tubig ng mga bangko natin) because of the lehman closure.  we cannot say for sure barclays will not be another lehman
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Offline maryan

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Re: High Watermark by BPI-Philam - any opinion on this?
« Reply #13 on: Mar 04, 2010, 05:13 PM »
sir bauer, thank you very much for your time in answering my questions but would you pls. enlighten me once again with regards to maxyield1, since it is not covered by pdic and not guaranteed by bpi, is it then covered by insurance commission meaning i will still get my investment in case of bankruptcy?
pls. pardon my being makulet i am just nervous, i already placed my hard earned money in maxyield1 and i haven't read the policy yet bec. it will be sent soon and not yet in my hands. i know that bpi and ayala life are already an institution and reputable at that but since maybe i made an abrupt decision in availing this investment i am nervous and scared. maybe if other investors will post and say something about maxyield. well maybe i want to hear that i am in good hands and that my investment is safe. i know that bpi will not get bankrupt but maxyield holding period is 9yrs. and if i withdrew or terminate my investment there are corresponding penalty. say that i invested usd15,000.00 i will be charged with 5% penalty or usd750.00? is my computation right or are there other hidden charges aside from 5%?
sir, you've said the worst scenario, can you say something naman about what's good im maxyield aside from getting the highest value upon maturity? am i worrying about things that may not happen? you see i am really conservative with regards to investing money, for me time deposit is the best i am not really particulat about t-bills, money market etc.

Offline ian.mancilla

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Re: High Watermark by BPI-Philam - any opinion on this?
« Reply #14 on: Mar 04, 2010, 08:02 PM »

 


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