Monday, December 15, 2014

Philequity: First Investment Vehicle For A Working Pinay

It was almost end of the year so the black purse has became relatively "fat". Christmas atmosphere was everywhere, and as bazaars, also known as tiangge, or other night shops were enticing, the Water Sprite felt she needed to immediately settle her first investment fund before she gets tempted to buy some kikay, items to her self-indulgence purchased with carelessness. She was considering Philequity Fund, which was being managed by Philequity Management, Inc. (PEMI). The PEMI website worked good but she had to see if acquiring a PEMI product would hit all of the following 5 criteria she provided for herself:

  1. Initial investment in the range of PHP5,000 and PHP10,000.
  2. Application must be easy, preferably online to eliminate third-party connection or agents so that she could think freely. 
  3. Distributor's office must be very accessible, either from work or from home. 
  4. Payment must be done thru banks, Bayad Centers, or online. 
  5. Additional investment must be as low as PHP1,000.
The Water Sprite found PEMI's statement of procedure for initial investment over the same website and understood the flow. She downloaded the required forms and produced hard copies. There were 4 different kinds: Account Opening Form, Investor Risk Profiling Questionnaire, Investment Application Form, and Signature Cards. She filled all those out. As mentioned in the procedure, the investor could submit the forms to eBiz branches, or formally named e-Business Services, Inc. The Water Sprite later did know that an eBiz branch was tied up with a Western Union outlet, but not all Western Union outlets were carrying eBiz services. She eventually got the contact number of the nearest Western Union (or eBiz) branch and was able to talk to a representative before showing up so that she had enough details of what she needed to bring. The representative told her that they were also accepting payments but the investor could also pay thru banks like Banco de Oro, Eastwest, Union Bank, or RCBC. The Water Sprite was also reminded to bring government issued ID card.

There were feelings of gladness and excitement as the Water Sprite walked from work to eBiz branch. She had such positive vibration with the eBiz branch, especially that the branch were still open for transaction until 6 P.M. Good enough because she was off to work at 5 o'clock. She presented her papers and her SSS ID to the eBiz representative for evaluation. She waited for few minutes but the representative told her she needed to accomplish the forms which the eBiz provided instead of such downloaded forms.

The forms issued by the branch looked the same as the downloaded form except that the investor had to accomplish 3 sets of the forms in 3 colors: white, blue and yellow. It was almost closing time for the branch so the Water Sprite took the forms home for signing. She had to come back the following day. Despite of such inconvenience, the Water Sprite considered going back. Lunch break of the next day, she went back to eBiz branch and hopeful that everything would be done successfully. The branch representative re-evaluated the papers and received the money being the Water Sprite's initial investment. Then a piece of document called Investment Order, which also served as receipt of payment, was issued to her. Therefore, the first step to mutual fund investment was done. The representative told the Water Sprite to wait for confirmation the next day. It would be sent thru e-mail. It was Friday then, so the Water Sprite expected Monday confirmation.

True enough, the Water Sprite got email the next Monday afternoon. She then officially became one of the investors who owned shares of various companies in the country. It was a feeling of celebration for the Water Sprite but the journey would still continue as there would be more options for her.

photo credit:

Lessons Learned

Should you be a first time investor and you consider Philequity Management, Inc. (PEMI) to manage your investment, you don't need to download the forms suggested online. Just go directly to the nearest eBiz branch and they could issue the forms.

What's Next?

The Water Sprite would periodically but joyfully allot some black purse entry and periodically reinvest to Philequity, also, she would soon self-study on Philippine stock market and might try buying shares somewhere.


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