Revisions in Robinsons Bank Money Market UITF, Balanced Fund UITF, and Tax-Exempt Retirement Fund (A Balanced UITF)
Dear Valued Investors of the RBank UITF,
We are pleased to inform you that the Robinsons Bank Trust and Investments Group and Board of Directors dated February 24, 2021, has approved the following amendments to the Plan rules & Declaration of Trust (DOT) of the RBank Money Market Fund, RBank Balanced Fund, and RBank Tax-Exempt Retirement Fund (A Balanced UITF), effectively making the Funds more affordable to the participants, among other changes. Below is the summary of the changes for your reference:
RBank Money Market Fund
|Minimum Initial, Maintaining & Additional Participation||Php100,000.00||Php10,000.00|
|Minimum Holding Period||14 calendar days||none|
|Early Redemption Fee||100% of interest earned if redeemed in day 1-3;
50% of interest earned if redeemed in day 4-14
RBank Balanced Fund
|Minimum Initial & Maintaining Participation||Php50,000.00||Php10,000.00|
|Minimum Holding Period||90 calendar days||15 calendar days|
|Benchmark||50% PSEi and 50% Bloomberg Sovereign Bond Index with adjusted PDST R2 valuation||50% PSEi and 50% Bloomberg Sovereign Bond Index BVAL based on the Fund’s weighted average duration|
RBank Tax-Exempt Retirement Fund (A Balanced UITF)
|Minimum Initial & Maintaining Participation
Per Retirement Plan Client
|Investment Objective||The Fund intends to achieve for its participants total returns consisting of current income and capital growth over the medium-to-long term by investing in a portfolio of peso-denominated fixed income and exchange-listed preferred shares. The maximum allocation for exchange-listed preferred shares investment is up to 40% of the market value of the Fund||The Fund intends to achieve for its participants total returns consisting of current income and capital growth over the medium-to-long term by investing in a portfolio of peso-denominated fixed income and exchange-listed equities. The maximum allocation for exchange-listed equity investment is up to 50% of the market value of the Fund.|
|Benchmark||PDSTR2 plus 100 bps per annum with the PDSTR2 reference rate chosen based on the Fund’s weighted average duration||50% PSEi and 50% Bloomberg Sovereign Bond Index BVAL based on the Fund’s weighted average duration|
Average portfolio duration for the Fixed Income Allocation shall be from five to eight years.
Average portfolio duration for the Fixed Income Allocation shall be five years.
Copies of the Amended Appendix I of the UITF Declaration of Trust which RBank Trust & Investments Group (TIG) has submitted to the Bangko Sentral ng Pilipinas shall be made readily available to you upon your request. Likewise, this will be published in the succeeding editions of the Funds’ Key Information and Investment Disclosure Statement (KIIDS). Notwithstanding, we are submitting to you this Notice of Amendment in accordance with Article IX of the DOT which requires the Trustee to notify the participants in the Fund for any amendments made to the Fund.
Given the above, we will consider it your amenability to the above investments with your decision to remain invested in these Funds. Should you have clarifications, please feel free to contact us at the following numbers: 8702-9500 locals 506, 546, and 544. You may also email us at email@example.com for your queries.
Thank you for your continued support!
ROBINSONS BANK- TRUST AND INVESTMENTS GROUP