Savings will only protect or “save” your money, but investments will grow them. If you have a COL Financial Account, you have the access to almost all of the available Mutual Funds in the Philippines right now.
But first, what is a Mutual Fund?
In a nutshell, a Mutual Fund is a pooled fund where a fund manager places the collected money to an investment instrument with the goal of growing it. Pooled fund means that multiple accounts are pooled or combined into one pot. The fund manager is a person whose job is to professionally watchout for the money entrusted to him and his company.
1. In Mutual Funds, you don’t have to check your account everyday to see the stock performance. Someone manages it for you which results in…
2. More time for your own endeavors. Unless you are a trader yourself handling all those big amounts of money, you may want to entrust it to a person who has spent many years in growing funds.
3. Less Guilt or Regrets. If you manage your own stocks or funds, tendency is to blame yourself if your decision led to losses. Except that if you already have the Buffet-like skills in investing, you may always not regret your decisions.
4. MFs in COL Financial offer as low as PHP10,000 initial contribution and P5,100 additional contribution.
1. Not satisfied with the growth of the fund you have chosen. That’s why it is important to know your investment risk portfolio.
2. Can’t take the risk appetite of your MF manager and can’t afford to see those reds. Most probable reason is a mismatch: the MF you got was agressive, yourself is conservative.
3. Not happy with the charges. You may feel that paying management fees would have been better if you did the management yourself
Below is my tutorial that lays down the steps to start an MF in COL Financial.