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Invest in Mutual Fund: What, Why and How I Did It

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Written by   106
5 months ago

December 16, 2019 is the date when I declare myself as a "young investor" kuno because finally, I have completed the steps in order for me to invest in a Mutual Fund with FAMI-SALEF (Save and Learn Equity Fund). It was one of the biggest decisions I have ever made as an 18-year old student, 2 years ago. Before I came up with that decision, I researched intensely for a couple of weeks. There were times when I was still widely awake at 2 am just to read blogs and videos for my first venture in investment. In fact, I haven't told anyone yet that I'm investing in a Mutual Fund. I have mentioned to my Mama before about my plan, but I haven't told her that I have officially joined already. Hehe.

Photo from Pinterest

What is a Mutual Fund?

Mutual fund is a pool of money which is professionally managed by fund manager and invested in a specific type of securities to reach the financial goal of an investor.

What is FAMI?

FAMI or First Metro Asset Management, Inc. is an investment company among the most trusted and best performing mutual funds in the Philippines under the Metrobank Group.

Photo from FAMI

Why did I choose to invest with FAMI?

There are various investment companies in the Philippines— like COL Financial, Philam Life, Sun Life Financial, etc. which may be better in some aspects rather than FAMI. But in the end, I selected FAMI because I have read several reviews from the people who invest with them. And the fact that FAMI is under Metrobank Group is proof that the company is trustworthy and performs well. I was around 14 years old when I joined Metrobank Fun Savers Club (I mentioned it in my recent article: Open a Bank Account for your Kids), and up until now I still have an account under Metrobank. In the long run of being with them, I can say that they are trustworthy and they provide good service to their clients and do well in their field.

Why did I choose a mutual fund?

After long hours of research, I found that a mutual fund was convenient and suitable for me when I was 18 since I considered myself then a newbie in money investment. Stock market, trading, crypto, and real estate... sounds terrifying to me back then. I somehow want to play safe and grow my money at the same time as early as possible.

How did I join FAMI Mutual Fund without leaving home and without any papers?

Step 1

  • Go to the FAMI website (fami.com.ph).

  • Click "open new account" and choose whether you want "individual/joint account" or "institution/business/corporate account".

As for me, I chose an individual/joint account.

Step 2

  • Fill out the Applicant's Data Sheet.

  • Upload scanned copy of your valid ID which must bear a photo and signature, not expired, and in .pdf, .png., .jpg, or .gif format.

  • Upload scanned of your signature, two (2) specimens.

Personally, I submitted my Student ID. And I used Microsoft Office Lens app to scan my ID and signature.

  • Continue the process by filling out correct information throughout the Suitability Assessment, Bank Settlement Account, Interview Schedule, and so on.

Step 3

  • Wait for the FAMI email or SMS for the online interview.

Based on my experience regarding the Interview Schedule that I selected in the Data Sheet, it wasn't followed. The date of the online interview depends on you and the interviewer's availability.

  • Get ready for the online interview by preparing a clean sheet of paper and pen for your signatures, your valid ID for verification, and the details of your bank account for settlement. The online interview will be done via Messenger or other video call apps.

The one who interviewed me was very responsive, friendly, advised me of what should I do next, and lent some suggestions.

Step 4

  • Deposit your initial investment minimum of PHP 5,000 through any payment methods that you want. It can be done over the counter at any banks (Metrobank, PS Bank, BPI, Union Bank, and BDO), or thru Metrobankdirect. For more details about payment methods, visit here.

What I did was to deposit over the counter at Metrobank thru Payment Slip.

  • Scan your proof of payment of initial investment.

  • Send the scanned receipt at FAMI email.

Step 5

  • Wait patiently again for the FAMI email or SMS for the final procedure in creating your FAMI Portal account.

  • Make your own FAMI Portal account and remember, don't forget your Customer ID and password.

Voila, it's done with only simple 5 steps! I hope that this post is helpful for those who are interested in investing in a mutual fund. There are also many other option and different types of mutual funds that you can choose from.

Just never forget to always research everything first before venturing into any investments.

Do you invest in Mutual Funds as well? Share your thoughts by sending a comment down below. It can be helpful for others.

I can also discuss how I opened a Pag-ibig MP2 account as a student. Let me know if you're interested!

"A year from now you will wish you had started today."

Let's invest wisely and grow our money together as early as possible. 😉

Thank you for reading. ❤️


Lead image is from Pinterest.


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Date Published: July 3, 2021


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Written by   106
5 months ago
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Comments

It open my mind about this investing. Hmmm hope I can know more about it😊

$ 0.00
5 months ago

I am planning to write more articles related to investing. Let's keep in touch.

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5 months ago

Yes I will!😊 Looking forward about it.

$ 0.00
5 months ago

Good strategy.. young and investing. I must consider investing now.

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5 months ago

Thanks! You must, especially if you have the extra money.

$ 0.00
5 months ago

ini sangat menakjubkan, Saya sangat menyukai bidang investasi, Best artikel

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5 months ago

Oh, thank you for sharing this. Do I need to open a bank account to be qualified in a mutual fund? Anong ganap sa interview? May mga tatanungin ba sayo ganun?

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5 months ago

It's okay kung walang kang bank account sa metrobank, pero if meron, mas mabilis ang process. Madali lang naman ang interview po. Di ko na kaso masyado maalala kasi 2 years ago na din.

$ 0.00
5 months ago

Oh oki oki thank youu!

$ 0.00
5 months ago

Whaao. Young Investor 🥰 gusto ko din maranasan na makapag invest ng ganyan sis pero sa ngayon hindi pa kaya .

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5 months ago

No pressure naman. Soon makakapag-invest ka din po. <3

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5 months ago

Gusto ko dn mag invest dto. Yung ibang insurance company like Insular liife my mutual fund dn sla inooffer sa members.. Magkano naman returns jan sa Fami?

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5 months ago

Not guaranteed po ang return just like stock market and crypto. Pero nandito yung historical performance po nila: https://fami.com.ph/wp-content/uploads/2021/06/SALEF-06.25.pdf . As of now, bear market ang PSE kaya red ang portfolio ko, but I take advantage of it and still buy if may extra ako. The market will eventually go upward.

$ 0.00
5 months ago

As a financial management student, we tackled about mutual funds as it is one of the prerequisites we need to take and our prof explained well that mutual fund is indeed a good investment. Also when you invested in mutual funds it is going to managed by a professional. Im planning also to invest in mutual funds hope i make it very soon :)

$ 0.00
5 months ago

Nice, finance-related course. Ako hindi eh but I'm very interested sa finance hahaha. Good luck in investing. Hope you'll make it soon!

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5 months ago

I hope so po hehe :) goodluck also to your investment

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5 months ago

Nice naman :) Young investor, not kuno :)

Na-remind tuloy ako sa COL hehe. How's your investment faring these days naman?

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5 months ago

Thanks po! Bear market padin po ang PSE (Phil. Stock Exchange) kaya red parin ang portfolio ko. Haha. But for me, it is something to take advantage parin. The market will rise again eventually.

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5 months ago

True yan, kaya d ko binibisita dashboard ko don hehe. And yes, if you're up to putting more, opportunity ngayon

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5 months ago

True. Nung starting palang ako, chinecheck ko everyday kung ano nangyayari. Hahaha. Pero wala na akong pake ngayon kasi for long-term ko pa naman yun. Hihi

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5 months ago

Set and forget. Although maganda rin mag add pa kung may spare budget.

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5 months ago

Yes po. And okay din mag-invest pa sa iba para ma-diversify if kaya pa ng money instead of buying invaluable stuff.

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5 months ago

Hmmm, I love it! Matured na matured ang pag-iisip mo :) I wasn't like that when I was 20 haha. I was fond of buying stuff, kahit d ko need :)

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5 months ago

Thank you po. I'm influenced by some close friends din kasi. Matipid din sila. Hahaha. Minsan may gusto akong bilhin tas sasabihin nila parang ligwak. Kaya ang ending, di ko na lang din bibilhin. Hahaha. Tipid buddies. :D

$ 0.00
5 months ago

Maganda yan, at least you are all frugal :)

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5 months ago

may mga need bang papeles ate para sa metrobank?

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5 months ago

metrobank savings account/debit card po ba? or yung sa investment po?

$ 0.00
5 months ago

sa savings account ate

$ 0.00
5 months ago

here are the details po: https://meaningfulbanking.metrobank.com.ph/application-requirements . magdadala ng requirements then pupunta ng branch nila. if you want debit card, through earnest app ako nag inquire, under metrobank parin sila pero konti lang nakakaalam ata. Php 0 maintaining balance kasi. pakatapos mag-inquire sa online app, at pag may nag email na na pwede ng kuhanin ang debit, claim na po sa nearest branch. if you want, i can discuss it in much more detailed sa telegram or something. haha. sorry medyo magulo ako mag-explain eh.

$ 0.00
5 months ago

salamat ateeee

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5 months ago

welcome :)

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5 months ago