A study commissioned by Sun Life Financial-Philippines early this year revealed that among the Filipinos’ top sources of worry is inflation, the persistent increase in consumer prices that consequently weakens ones purchasing power.
Despite this, the study, called SOLAR, (an acronym for Study Of Lifestyles, Attitudes and Relationships) notes that Filipinos still refer to keep their spare cash in savings or time deposit accounts, which offer guarantee liquidity but modest interest earnings. While such investments vehicles are considered safer, they are not enough to beat the rate of inflation in the long run.
These findings led Sun Life Financial-Philippines to introduce its new program, called “It’s Time!” to increase local awareness of investment avenues that are more suitable for securing one’s long-term financial goals. Endorsed by celebrities Pia Magalona and Bam Aquino, “ Its time!” highlights the importance of protecting one’s income and accumulating wealth by investing his savings.
Bundled with the program is a new promo Fun with Prosperity Funds, which promises rewards to clients in exchange for them investing in one of the firm’s mutual funds, called Sun Life prosperity Funds.
Managed and distributed by Sun Life Asset Management Co., Inc., (SLAMC), Sun Life Prosperity Funds gives an investor a choice of seven different mutual funds, each designed for a specific investment objective and with a different fund portfolio.
“We realize that many Filipinos might just need a little bit of push or some encouragement to start investing and to take a long-term perspective in their investments,” said Toby Panares, CEO of SLAMC. “
That’s why over a limited period, we’re throwing in compelling incentives.” Mr. Panares said the promo, which runs until Oct. 15, is already attracting a lot of investors.
“ From now on, we will intensify further our efforts to uphold the interest of every investor. For starters, we’re giving out wonderful prizes to reward them for investing long term,” said Riza Mantaring, Sun Life Financial’s new president and CEO.
This article was originally published in the Business Mirror, August 14, 2009
