It’s that time of the year again when we look at the past quarter’s performance of mutual fund companies in the Philippines.
In 2008, we saw how most mutual funds wiped out gains they earned in 2007. During the first quarter of 2009, have the funds recovered or are we seeing further declines in value?
The good news is that during the first three months of the year, most mutual funds have started to recover. Majority of the funds are now in positive territory.
However, do note that although the rate of return is a good measure of performance, other things such as consistency of return and exposure to risks must also be assessed. The past performance of a fund is also not and cannot be a guarantee of future returns.
Philippine mutual fund report from January to March 2009 below.
YEAR-TO-DATE PERFORMANCE OF MUTUAL FUNDS IN THE PHILIPPINES
As of the 1st Quarter of 2009 (January to March 2009)
EQUITY FUNDS (primarily invested in Peso equity securities)
- Philequity Fund – 7.99%
- Philequity PSE Index Fund – 7.40%
- First Metro Save and Learn Equity Fund – 6.60%
- Philippine Stock Index Fund – 6.06%
- Philam Strategic Growth Fund – 5.73%
- United Fund – 4.67%
- Sun Life Prosperity Phil. Equity Fund – 4.55%
- ATR KimEng Equity Opportunity Fund – 4.36%
- DWS Deutsche Philippine Equity Fund – 2.92%
BALANCED FUNDS (primarily invested in Peso debt and equity securities)
- ALFM Growth Fund – 5.63%
- First Metro Save and Learn Balanced Fund Inc. – 5.22%
- Philam Fund, Inc. - 4.80%
- GSIS Mutual Fund – 4.79%
- MFCP Kabuhayan Fund – 3.82%
- Optima Balanced Fund – 3.68%
- Sun Life Prosperity Balanced Fund – 2.43%
- First Galleon Family Fund – 0.28%
FOREIGN CURRENCY-DENOMINATED BALANCED FUNDS
- Sun Life Prosperity Dollar Advantage Fund – 5.70%
BOND FUNDS (primarily invested in Peso debt securities)
- Prudentialife Fixed Income Fund – 2.61%
- Cocolife Fixed Income Fund – 2.57%
- Sun Life Prosperity GS Fund – 2.06%
- Sun Life Prosperity Bond Fund – 1.60%
- Philam Bond Fund – 1.45%
- ALFM Peso Bond Fund – 1.32%
- First Metro Save and Learn Fixed Income Fund – 0.76%
- Philequity Peso Bond Fund – 0.47%
- DWS Deutsche Philippine Fixed Income Fund - 0.38%
- Ekklesia Mutual Fund – No data
FOREIGN CURRENCY-DENOMINATED BOND FUNDS
- MAA Privilege Euro Fixed Income Fund – 8.84%
- Grepalife Dollar Bond Fund – 7.82%
- Sun Life Prosperity Dollar Abundance Fund – 7.18%
- Philam Dollar Bond Fund – 6.48%
- Philequity Dollar Income Fund – 4.78%
- MAA Privilege Dollar Fixed Income Fund – 2.28%
- Grepalife Fixed Income Fund Corp. – 2.07%
- ALFM Euro Bond Fund – 1.20%
- ALFM Dollar Bond Fund – 1.03%
- AIG Global Bond Fund Phils. – (4.39%)
MONEY MARKET FUNDS (primarily invested in short-term Peso securities)
- Sun Life Prosperity Money Market Fund – 0.54%
- ATR KimEng Money Market Fund – 0.52%
- Philam Managed Income Fund – 0.35%
* Figures in (xxx) denote a loss. All data taken from the website of the Investment Company Association of the Philippines (www.icap.com.ph).
Are we headed towards recovery or is the bottom about to happen yet? We’ll find out in the coming months.