Can I invest in mutual funds or UITFs while abroad?
Several Pinoys outside the Philippines, especially Overseas Filipino Workers (OFWs), are wondering whether they can invest in mutual funds or unit investment trust funds (UITF) even if they are outside the country.
A few PMT members are reporting that it is indeed possible. Some mutual fund companies or banks offering UITFs, they say, accommodate placements although the investor cannot make a personal appearance.
View the discussion in the thread Investing in local Mutual Fund or UITF while abroad.
Some responses from the PMT discussion thread:
Not sure about other Mutual Funds pero sa Sunlife, kailangan ang presence mo to sign the forms when you purchase and when you redeem. Kung magkanong bibilhin mo, yes, you have to make a lumpsum payment. Kasi yung number of shares na makukuha mo will depend on the price of the fund at the time of your purchase. Option mo na kung gusto mong mag-top-up monthly or whenever you want to get more.
One may not personally hand in the forms so long as the original forms are turned in, even if the transaction was done initially using faxed documents. Regardless of the distance, an investor need not appear in person so long as he sends in copies of valid identification. In the US, transactions are usually done online.
I’m an OFW at nakapag-open ako ng UITF account ko abroad sa PNB (Philippine National Bank). Nagkataong may regional office dito sa Middle East kaya nagtanong-tanong ako at meron naman sila. Check your host country kung meron silang office.
Di ko narin kailangang pumunta sa office nila when adding investments diretso na ako sa pag-reremit sa UITF account ko.. Pumupunta lang ako sa office when my additional certificate arrives..
I was able to do my placement Mutual Funds in ING, Philam, and Sunlife while aboard using HSBC where I am a client. They sent me all the forms which I sent copies via email and the originals via Fedex. They just debited my account.
If you are a representative of a bank or mutual fund company and have official information about investing while outside the Philippines, post below or in the above thread so that OFWs interested to invest can know what to do.