COL Financial Group Inc is waiving the front-end fees when it launches the countrys first fund supermarket in the next few months. The fund supermarket will feature 25 mutual funds, accounting for 98 percent of the available funds in the market, COL Financial consultant Marvin Fausto said in a briefing on Thursday. The countrys leading online broker had signed up with Sun Life Asset Management Inc, ALFM Family of Funds, Philam Asset Management Inc, First Metro Asset Management Inc, PhilEquity Management Inc and ATR KimEng Asset Management Inc, allowing COL Financial to offer their mutual funds to its clients. All you need to do is open an account with us and you can access all the funds. You dont need to go to each of the funds to open an account with them, said Fausto, former chief investment officer of BDO Unibank Inc. COL Financial is finalizing discussions with the fund houses to waive the front-end fees ranging from 0.5-3.5 percent, making it cheaper for the brokerages clients to access the funds, Fausto said. If you invest through COL, there should be no front-end fees as compared to going straight to the fund houses where you will be charged with front-end fees, he added. The brokerage has a share in the management fees of 1.5-2 percent. COL Financial will have in place a fund rating system that will assess funds based on their historical performance, risk metrics and track record. The brokerage will also help clients select funds through a risk rating system and research. COL Financials move to offer mutual funds
Posted on: Fri, 23 Jan 2015 21:25:09 +0000
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