At its Annual Stockholders’ Meeting, the First Metro Philippine Equity Exchange-Traded Fund (FMETF), the country’s first and only exchange-traded fund, reported that its assets under management (AUM) increased 48.96%, from P899 million in 2014 to P1.34 billion in 2015. The fund, which mirrors the performance of the Philippine Stock Exchange Index, maintained a 99.97% accuracy of tracking the country’s equities benchmark. As of May 31, 2016, the FMETF has a year-to-date return of 7.4%. In 2015 it was the best performing equity fund registered under the Philippine Investment Funds Association.
In photo during the stockholders’ meeting are FMETF director Michael Say, chairman Eduardo Carreon, president Eduardo Mendiola, and independent director Romualdo Ong.