ONLINE brokerage firm COL Financial Group Inc. will launch its mutual fund trading platform in June, offering new products and services to its clients.
Marvin Fausto, COL consultant on business development, said the company will kick-start its mutual funds trading platform “COL Fund Source” as the first “funds supermarket” in the country.
COL Fund Source, which will be accessible through COL’s portal, will enable clients to self-trade bond funds, balance funds, money market funds, and equity funds at the same online trading site, Fausto said.
“There was a lot of interest from investors. It will be operational by June this year,” he said.
Fausto said the online brokerage firm has already signed memorandums of agreement with the six major funds in the country, cornering 92.1 percent of total assets in the Philippines.
The six mutual fund companies are Sun Life Asset Management, ATR Kim Eng Asset Management, Philam Asset Management, Philequity, First Metro Asset Management, and BPI-led ALFM Family of Funds.
The COL Fund Source launch is in line with the company’s expectation to achieve higher earnings this year after reporting a 13 percent drop in net income last year to P262.3 million due to a one-time loss during the period.
COL Financial is currently the eighth largest stock broker accredited by the Philippine Stock Exchange, rising in rank from its 9th place in 2013.