Becoming the first Philippine financial institution offering a broad array of financial market indicators, BPI is committed to provide portfolio managers, locally and from around the world seeking to invest in the Philippines, general benchmarks through the BPI Index.
Amendment to the BPI Corporate Bond Index
The BPI Index Committee has approved the amendment of the eligibility requirement for a security to be considered a constituent of the BPI Corporate Bond Index. The minimum amount outstanding has been reduced from P7.50 billion to P5.00 billion. Although large in size, recent corporate issuances have been tranched into various tenors, resulting in none-inclusion of these securities in the index.
The amendment shall accurately reflect and capture the performance of the Philippine Corporate Bond market.
This amendment shall be effective on the next monthly review, scheduled at the end of the last Business Day of August 2016. The BPI Corporate Bond Index Rule Book shall be revised accordingly.
New Reference Rate for Fixed Income Indices
Please be informed that the Bankers Association of the Philippines (BAP) launched its new reference rates for government securities effective Monday, 29 October 2018. The PHP BVAL Reference Rates replaced the PDST Reference Rates (PDSTR1 and PDSTR2), which was discontinued on 26 October, 2018.
For the new set of Reference Rates, BAP, as the Benchmark Administrator, has engaged Bloomberg to be the Benchmark Calculation Agent and use its BVAL Evaluated Pricing Service to calculate the PHP BVAL Reference Rates every day. The BAP has also appointed the Philippine Dealing Exchange (PDEx) to publish pertinent information at the end of each business day on the PDS MarketPage and the PDS website.
In this regard, BPI Investment Management Inc. (BIMI), as calculation agent of the BPI Indices, has adopted the PHP BVAL Reference Rates for the computation of its BPI Fixed Income Indices* since the said effective date.
*BPI Philippine Government Bond Index, BPI Philippine Government Bond 1-3 Year Index, BPI Philippine Government Bond 1-5 Year Index, BPI Philippine Government Bond 5+ Year Index, BPI Philippine Government Liquid Bond Index, BPI Philippine Government Money Market Index & BPI Corporate Bond Index