How to Buy Mutual Fund Shares in the Philippines
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by: GilbertTenorio
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Word Count: 476
Date: Mon, 3 Jan 2011 Time: 2:59 PM
Mutual fund is one of the best investments accessible presently. When you invest in mutual funds, you will only wait to build your money grow and until the time you want the money you invested. Usually, people invest their money in mutual fund for several rationale like for retirement, college expenses and for calamity fund. In this piece of writing you will know the mechanism on how to invest in mutual fund.
Mutual Fund Investing Procedures
1. Get a duplicate of prospectus of the mutual fund and study it.
In some type of investing, you need to study, study and study. So what is a prospectus? In the prospectus, you can acquire information useful facts about the mutual fund and the mutual fund company. You will be familiar with who administers the fund and most valuable, the current and past achievement of mutual fund. You can obtain a prospectus in the website of mutual fund corporation you like to invest in.
2. Fill out an account opening form and investment application form of the mutual fund of your choice.
When I deposited in mutual fund, I went directly to the center of my mutual fund in Makati. Its really easy, it took merely less than an hour to complete. However, even if you're overseas or in far away places in the Philippines, you can still invest by sending all requirements via post office or exclusive courier. My friend invested in ALFM even he's in South Korea.
3. Ready all requirements.
a) For personal accounts, ready photocopies of two (2) valid IDs such as company ID, SSS/GSIS ID, Driver's License, Passport or any government ID.
b) For corporate accounts, ready a duplicate of the following: Articles of Incorporation and by-laws SEC Authentication of Registration Secretary's certificate / Board resolution, authorizing the investment Secretary's affirmation on the allotment of ownership/capital stock held by non-Filipino shareholders
4. Go to the office of your mutual fund company to give your requirements and application papers or you may send it to couriers. It will be more appropriate if you can phone the mutual fund office so that you may know other requirements or procedures. Basically, the procedure listed here is common to all mutual fund firms.
5. Send your payment to the mutual company office, or deposit straightaway to the fund's account. If you're paying off through checks, it should be made payable to the fund of your choice.
6. The mutual fund corporation will give a receipt and statement of account where you can see the quantity of shares you bought and its matching net asset value per share (NAVPS).
Basically, opening or purchasing a mutual fund involves cautious study and understanding of the fund. Examine and research first before you invest.
About the Author
Mhai Tenorio is a blogger of finance and investments. To get more information on mutual funds, stocks and banking such as on how to open a RCBC bank account, you must visit Financial Management, for more financial planning articles that focuses on saving, investing and earn money online.
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