averagedude
New member
Effective Feb 1, 2024, BPI will increase its annual trust fees for the following funds:
Fund
From
To
Change
BPI Philippine Equity Index Fund
1.00%
1.50%
+0.50%
BPI Philippine Consumer Equity Index Fund
1.00%
1.50%
+0.50%
BPI Philippine Infrastructure Equity Index Fund
1.00%
1.50%
+0.50%
BPI Philippine High Dividend Equity Fund
1.50%
1.75%
+0.25%
BPI Equity Value Fund
1.50%
1.75%
+0.25%
Odyssey Philippine High Conviction Equity Fund
1.50%
2.00%
+0.50%
BPI Global Fund of Funds
0.75%
1.00%
+0.25%
BPI Catholic Values Global Equity Feeder Fund
0.50%
1.25%
+0.75%
BPI US Equity Index Feeder Fund (USD and PHP Class)
0.75%
1.50%
+0.75%
BPI European Equity Feeder Fund
0.75%
1.50%
+0.75%
Odyssey Asia Pacific High Dividend Equity Feeder Fund
1.10%
1.50%
+0.40%
BPI World Technology Feeder Fund
1.00%
1.50%
+0.50%
BPI Global Health Care Feeder Fund
1.00%
1.50%
+0.50%
BPI Money Market Fund
0.25%
0.50%
+0.25%
BPI Philippine Dollar Index Fund
0.25%
0.50%
+0.25%
Odyssey Peso Medium-Term Bond Fund
1.00%
1.50%
+0.50%
Odyssey Peso Bond Fund
1.00%
1.50%
+0.50%
As a long-time passive investor in BPI UITFs, I am extremely disappointed in this move. The trend globally is for passive Index funds to have significantly lower fees than your actively managed funds. (Note: passive funds follow standard index weighting and doesn't try to outperform the market unlike actively managed funds). This is why there are so many low-cost ETFs that track various global market indices have very minimal fees (e.g. 0.01% to 0.10% of assets)
Well, guess what. Instead of optimizing their cost structure and pass on the savings to investors like what a well-functioning asset manager globally would do, BPI chose instead to increase its FEES for its Philippine Equity Index Fund from 1.0% to 1.50% of assets!! Note that this fund that merely track the weightings of the PSE Index and should just closely follow its returns not actively outperform it. So what am I paying 1.50% of my assets for??
This is NOT acceptable to any serious investor so I will pull out all my Philippine equity investments in BPI asap. What would you guys recommend as low-cost investment alternatives? Thanks!!
Fund
From
To
Change
BPI Philippine Equity Index Fund
1.00%
1.50%
+0.50%
BPI Philippine Consumer Equity Index Fund
1.00%
1.50%
+0.50%
BPI Philippine Infrastructure Equity Index Fund
1.00%
1.50%
+0.50%
BPI Philippine High Dividend Equity Fund
1.50%
1.75%
+0.25%
BPI Equity Value Fund
1.50%
1.75%
+0.25%
Odyssey Philippine High Conviction Equity Fund
1.50%
2.00%
+0.50%
BPI Global Fund of Funds
0.75%
1.00%
+0.25%
BPI Catholic Values Global Equity Feeder Fund
0.50%
1.25%
+0.75%
BPI US Equity Index Feeder Fund (USD and PHP Class)
0.75%
1.50%
+0.75%
BPI European Equity Feeder Fund
0.75%
1.50%
+0.75%
Odyssey Asia Pacific High Dividend Equity Feeder Fund
1.10%
1.50%
+0.40%
BPI World Technology Feeder Fund
1.00%
1.50%
+0.50%
BPI Global Health Care Feeder Fund
1.00%
1.50%
+0.50%
BPI Money Market Fund
0.25%
0.50%
+0.25%
BPI Philippine Dollar Index Fund
0.25%
0.50%
+0.25%
Odyssey Peso Medium-Term Bond Fund
1.00%
1.50%
+0.50%
Odyssey Peso Bond Fund
1.00%
1.50%
+0.50%
As a long-time passive investor in BPI UITFs, I am extremely disappointed in this move. The trend globally is for passive Index funds to have significantly lower fees than your actively managed funds. (Note: passive funds follow standard index weighting and doesn't try to outperform the market unlike actively managed funds). This is why there are so many low-cost ETFs that track various global market indices have very minimal fees (e.g. 0.01% to 0.10% of assets)
Well, guess what. Instead of optimizing their cost structure and pass on the savings to investors like what a well-functioning asset manager globally would do, BPI chose instead to increase its FEES for its Philippine Equity Index Fund from 1.0% to 1.50% of assets!! Note that this fund that merely track the weightings of the PSE Index and should just closely follow its returns not actively outperform it. So what am I paying 1.50% of my assets for??
This is NOT acceptable to any serious investor so I will pull out all my Philippine equity investments in BPI asap. What would you guys recommend as low-cost investment alternatives? Thanks!!