INSULAR LIFE Assurance Co., Ltd. (InLife) has introduced the Peso Global Technology Fund in its portfolio, marking the first of such offering within the local insurance industry.
InLife President and CEO Mona Lisa B. de la Cruz said despite being a global fund, investors do not need to buy dollars for the fund since it is peso-denominated.
The Peso Global Technology Fund invests a big portion of its assets in a fund whose underlying investment is exposed to equity securities of technology companies across the globe, the life insurance firm said in a statement yesterday.
“Our world today is dominated by technology and will continue to be so in the foreseeable future. We believe this is an opportune time to invest in global technology because the sector offers a steady stream of solid growth,” Ms. De La Cruz said.
The fund was announced on Wednesday and will be available starting next week, Jan. 28. The Peso Global Technology Fund is available through InLife’s variable universal life products, as well as via its wealth assure global, wealth secure global, solid fund builder, wealth protect, variable returns asset and the variable returns asset-first million fund.
In 2018, InLife booked P22.2 billion in consolidated revenues, which was 13% higher than the P19.71 billion recorded a year prior.