BPI Wealth tasked by PH state insurance to manage $45m investment fund

The investment fund amount is P2.5b.

The Bank of the Philippine Islands' wealth management unit has been tapped by the Social Security System (SSS) to manage P2.5b (US$45m) worth of investment funds.

The state-run insurer has awarded BPI Wealth to manage its funds after a four-month bidding.

“Amidst the most challenging markets in recent years, this new mandate proves that despite market volatility, we have delivered on our commitment to achieve target returns, provide superior service, and offer expert advice." Maria Theresa D. Marcial, President and CEO of BPI Wealth, said.