READER’S QUESTION: How does FAMI work???
September 18, 2014
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Last July I received this reader’s question through my contact form. I wasn’t able to create a blogpost though I did answer her inquiry through a private reply. But I believe that there may be some who has the same question as her so I here am I broadcasting the answer I sent to her!
FAMI is a trusted Mutual Fund corporation here in the Philippines. It is actually tied up with Metrobank so you’ll be sure that your money is in good hands.
A mutual fund is a type of investment wherein you let a financial institution manage how your investment goes. Basically, the FAMI will do everything for you unlike having a personal investment in stock market like COL (if you’re familiar) wherein you manually buy and sell stocks.
Upon opening of your account, FAMI will diversify your money to different market pools. You’ll receive monthly letter about the NAVPS and the amount of your purchase and so on.
For more information make sure to read the following FAMI posts up on my blog:
Izza of SavingsPinay helps Filipinos bridge the financial literacy gap one content at a time by providing insights and tips on budgeting, saving, investing, side hustle and growing your net worth. Aside from this blog she also writes at www.izzaglinofull.com, a beauty and lifestyle blog for frugal Pinays and manages, www.izzagevents.com, a wedding and event business since 2011. For inquiries, topic suggestions or future collaborations email her at firstname.lastname@example.org