THE FIRST METRO PHILIPPINE EQUITY EXCHANGE-TRADED FUND (FMETF), the first and only exchange-traded fund (ETF) in the country, was recognized as Asia’s Best Emerging Market ETF at the inaugural ETF and Indexing Awards 2015 of regional trade publications Asia Asset Management and ETFI Asia. First Metro Investment Corporation, FMETF’s proponent and fund sponsor; First Metro Asset Management, Inc., the fund manager and principal distributor; and First Metro Securities Brokerage Corporation, the market maker and lead authorized participant, were awarded ASEAN’s Best ETF Manager.
Asia Asset Management is the first trade journal in the Asia-Pacific to cater to the needs of asset managers, pension funds and institutional investors, while ETFI Asia magazine provides in-depth coverage of ETFs and the indexing industry in the region.
The FMETF won Asia’s Best Emerging Market ETF, for being the most outstanding emerging market ETF in terms of assets under management (AUM), performance, trading volume, and tracking error over the last year. The FMETF ended 2014 with a total value turnover of P630.64 million and an average traded value of P2.6 million. Its Net Asset Value per share (NAVps) year-end return gained 24%, with a closing price of P117.00 from P95.50, higher than the 22.76% gain of the PSEi.
“We are indeed proud that the FMETF bested other ETF products in the region. From January 1 to December 31, 2014, the fund has performed remarkably well as it strives to mirror the stock components, allocation, and portfolio weight of the Philippine Stock Exchange Index (PSEi). First Metro is privileged to have launched and listed this equity-asset class in the country,” said First Metro Investment president Roberto Juanchito Dispo.
The FMETF offers an investment option that allows a collective investment scheme to be traded in the PSE. Designed to track the stock exchange index, it is a cost-efficient way of diversifying a portfolio, allowing investors access to a broader market at lower expense ratios. A stock and a mutual fund rolled into one, it provides a diverse, transparent and tradable investment option that suits any type of investor.
The ASEAN’s Best ETF Manager of the Year was awarded to the First Metro group for its key achievements in the last 12 months, including scale of resources deployed to support its existing franchise, and efforts to promote investor education and enhance usage of ETFs in the institutional and retail marketplace.
Given the success of the FMETF, First Metro is looking to list and register the FMETF in the Tokyo and Singapore stock exchanges. Likewise, First Metro is working to introduce to the local market two potential new ETFs, one based on a prospective consumer index and another based on an index of bonds.
“True to our thrust and advocacy to be the prime mover in the development of the Philippine capital markets, we will continue to introduce new investment products for the benefit of the Philippine investors and hopefully, even those of our neighboring countries,” Dispo added.