Prudentialife Fixed Income Fund, Inc. Sustains Performance


Prudentialife Fixed Income Fund, Inc. (PFIFI), the mutual fund of Prudentialife Plans, Inc. continues to experience very high returns for 2006. On the heels of last year’s annual performance of 17.87%, the fund as of November 13 posted a year-to-date return of 14.82%

This is despite a steep drop in bond prices last May that affected the whole mutual fund and unit investment trust fund (UITF) industry. This decline was mainly due to the increase in the interest rates by the Bangko Sentral ng Pilipinas (BSP).

PFIFI has recovered since then and is now almost back to its previous high.

PFIFI was launched on January 3, 2005 and is one of the newest players in the industry. It had an initial capitalization of P50 million but due to high demand from individual as well as corporate investors, the authorized capital stock was increased to P500 million in April this year. PFIFI’s asset base currently stands at around P350 million.

PFIFI is managed by Deutsche Bank AG Manila branch. Deutsche Bank is considered as one of the world’s leading international financial service providers, with 992 billion euros in assets and latest net income of 4.2 billion euros. Deutsche Bank AG Manila was awarded the best trustee and administration services provider Prudentialife Plans for the year 2005.

Prudentialife Optima Funds is planning to offer other types of mutual funds in 2007 to provide more investment choices to its individual and institutional investors.

Press Release in Business World Special Feature, November 17-18, 2006, page S4