Trust and Investments Service Updates

Update as of March 23, 2020, 12:00nn

 

In light of the limitations of a skeletal work force, the delivery of trust services will be adjusted. We are exerting our best effort to accommodate your requests.

 

Below are some guidelines that we have implemented to allow us to serve the most number of clients given our limited capacity. The guidelines stated herein are applicable to areas under Enhanced Community Quarantine (ECQ). Non-ECQ areas may also be affected and specifically indicated in the guidelines below:

 

1.0 Online Access

 

Clients with BDO Personal Online Banking (POB) can subscribe to UITFs at their convenience through BDO Invest Online. UITF redemption is available only to those who subscribe online. Clients who subscribed via the branch can follow the instructions below.

 

2.0 Cut-off Time (Applicable to ECQ and Non-ECQ areas)

 

a.    Instructions for Unit Investment Trust Funds (UITFs), Investment Management Accounts (IMAs) and Trust Accounts (TA) shall be received based on schedule below:

 

UITFs UITFs    Fund Cut-Off effective until
April 14, 2020
All BDO peso-denominated equity and
balanced funds
12:00 nn
All BDO Global Feeder Funds 12:00 nn
All BDO Peso and USD-denominated fixed income funds 12:00 nn
BDO Peso Money Market Fund, BDO
Institutional Cash Reserve Fund and BDO Dollar Mon-ey Market Fund
11:30 am
BDO Short-Term Fund 12:00 nn
IMA and TA 12:00 nn

*Cut-off above applies for transactions via BDO Branches and BDO Invest Online

 

3.0 Processing Turn-Around Time

 

a.    For ECQ areas only: Execution of order instructions for investment, divestment and redemptions shall be done on a best effort basis one (1) banking day after date of order. Since we cannot commit that all your orders will be executed on a timely basis, please note that for UITF transactions, the NAVPU to be used shall be that applicable on day the order was executed and not when order was received.

 

b.    For Non-ECQ areas: Non-ECQ areas can continue to transact with their branch of account.

 

c.    For both ECQ and Non-ECQ areas: No new accounts shall be processed.

 

4.0 Communication: (Applicable to ECQ areas only)

1.    Starting Monday March 23, 2020, you may contact us using the details below to place your or-ders for UITFs, IMAs and TAs:

HOTLINES MOBILE EMAIL

8736 6108
8736 2752
8736 4846
8736 6094

+63917 302 2952 BDOInvest@bdo.com.ph

*Please be patient as we can only accommodate a limited number of calls.

2.    Requirements for orders:

A.    Redemption and withdrawal via hotline (9:00am to 12:00nn only):
       To prepare for speedy instructions, please make sure that the following are available prior to the call:

1)    For redemption, provide your UITF account number and the following information that appears on the Confirmation of Participation (COP)

  • COP number,
  • Complete account name (incomplete names will not be accommodated),
  • Name of UITF,
  • Number of UITF Units,
  • Amount of Contribution,
  • Date of transaction,
  • Account to be credited for the proceeds.

2)    For withdrawal of IMA placements, provide your IMA account number and the following information from the IMA Disclosure Statement (DS):

  • DS number,
  • Complete account name (incomplete names will not be accommodated),
  • Type and name of investment,
  • Amount of Contribution,
  • Date of transaction,
  • Account to be credited for the proceeds.

B.    Redemption and withdrawal via email (9:00am to 12:00nn only):

  • To prepare for speedy instructions, please make sure that the following are included in the email:
  • Instruction to redeem or withdraw,
  • Amount to be redeemed,
  • Attach a picture/image copy of the COP or DS. Across the face of the COP, mark in bold letters “For redemption on (date of instruction)”, Account to be credited for the proceeds,
  • After the lifting of the ECQ, client is required to submit the redeemed COP or DS to their branch of account.

To confirm that we have received your email, kindly expect an acknowledgement of our receipt of your email instruction.

3.    Disposition on Investment for existing IMA/TA with maturities only:

  • Only BDO TD is available for investment during the ECQ.
  • Peso and Dollar IMA/TA with no disposition will be AUTOMATICALLY ROLLED OVER for (approx.) 30 days.

Please refer to the BDO Website for additional updates. As always, thank you for your continued trust in BDO