Important Advisory: RBank UITF Merger with BPI Wealth UITFs
Dear Valued Client,
We would like to update you on the progress of the integration activities of Robinsons Bank (“RBank”) Trust with BPI Wealth, specifically on the RBank Unit Investment Trust Funds (“UITF”).
On May 31, 2024 (Friday), each of the RBank UITFs will be merged with their corresponding BPI Wealth UITF:
| RBank UITFs | To be merged with the following BPI Wealth UITFs (“Surviving Funds”) |
| RBank Payday Money Market Fund | BPI Short Term Fund |
| RBank Money Market Fund | BPI Short Term Fund |
| RBank Dollar Short Term Feeder Fund | BPI US Dollar Short Term Fund |
| RBank Balanced Fund | BPI Premium Bond Fund |
| RBank Equity Index Feeder Fund | BPI Philippine Equity Index Fund |
| RBank Equity Opportunity Feeder Fund | BPI Philippine Equity Index Fund |
Please take note of the following relevant dates:
| Date | Details |
| April 30 (Tuesday) |
Last day of RBank UITF subscriptions including Auto Debit Arrangements (“ADAs”)
Beginning May 1, 2024, subscription requests will no longer be processed and ADAs will be discontinued. Redemptions will proceed as usual. |
| May 22 (Wednesday) |
Last day of RBank UITF redemptions
To better facilitate any redemption requests, early redemption fees will be waived for the affected RBank UITFs beginning May 1, 2024. Kindly surrender your Certificate/s of Participation and/or Certificate/s of Investment to your respective RBank branch. The said documents will be considered invalid on the fund merger effectivity date. Clients who will remain invested in the affected RBank UITFs will automatically be shifted to the corresponding BPI Wealth UITFs. No additional documentation will be requested for the transfer. |
| May 31 (Friday) |
RBank UITF merger effectivity
The affected RBank UITFs will be merged with the corresponding BPI Wealth UITFs through the redemption of the RBank UITFs and the reinvestment of proceeds to the corresponding BPI Wealth UITFs. |
| June 1 (Saturday) |
Completion of UITF merger
The affected RBank UITFs are effectively terminated and the corresponding RBank UITF accounts have moved to BPI Wealth. |
With the BPI Wealth UITFs as surviving funds, we highly encourage you to nominate a BPI deposit account for seamless transaction processing and to fully maximize the following benefits:
- View, manage, and transact your investment accounts digitally using the BPI App and BPI Online.
- Access and download your prospective quarterly Financial Statements using BPI Online.
- Build up your investments through the Regular Subscription Plan which automates your regular contributions on your preferred schedule at an amount which works with your budget.
If you don’t have an existing account, you may open a BPI savings account online via the BPI website.
Rest assured that we are doubling our efforts to make this transition as seamless as possible. Kindly keep your communication channels updated to stay informed of further announcements.
Thank you and we look forward to the opportunity to provide you with unparalleled asset and wealth management solutions, empowering you to live your best life.
Sincerely,
Maria Theresa D. Marcial
President and CEO
Disclosure: Unit Investment Trust Funds (UITFs) are NOT DEPOSIT products and are not an obligation of, or guaranteed, or insured by BPI Wealth or Bank of the Philippine Islands (BPI) or its affiliates or subsidiaries, and are not insured by the Philippine Deposit Insurance Corporation (PDIC). Due to the nature of the investment, yield and potential yields cannot be guaranteed. Any income or loss arising from market fluctuations and price volatility of securities held by a UITF, even if invested in government securities, is for the account of the investor/trustor. As such, units of participation of the investor/trustor in a UITF, when redeemed, may be worth more or be worth less than his/her initial participation/contribution. Historical performance, when presented, is purely for reference purposes and is not a guarantee of future results. BPI Wealth is not liable for losses, other than due to willful default, evident bad faith or gross negligence. Investors are advised to read the Declaration of Trust of the relevant UITF before deciding to invest.
For inquiries and comments, please send us a message by visiting the BPI or BPI Wealth website and click the Contact Us page. You may also call our 24-hour BPI Contact Center at (+632) 889-10000.
BPI Wealth is regulated by the Bangko Sentral ng Pilipinas. https://www.bsp.gov.ph