First Metro Asset Management Inc

For Redemption

A shareholder may redeem his shares any banking day by filling out a redemption request form (indicating the number of shares or amount he wants to redeem). The redemption request form (click here to download the form) together with one (1) scanned/photocopied of a valid government issued ID with 3 specimen signatures, should be forwarded to FAMI for initial processing via :

Note:  Documents should be submitted before 12noon. Otherwise, your request shall be processed the next trading day.

Important: Original copy/ies should be submitted to FAMI for us to proceed with the deposit via:

  • any Metrobank Branches (Pouch Code #90020; ATTN: CUSTOMER CARE DEPARTMENT), or
  • any courier, or
  • directly through FAMI office

Should there be pertinent updated details and/or documents required from your end, client shall be notified accordingly. This is in compliance with BSP Circular 706 wherein financial institutions are required to regularly update clients’ information records.

Payments for redeemed shares shall be ready within seven (7) banking days from receipt of request for redemption. Additional one day for clearing for Non-Metrobank account.

A shareholder has three (3) redemption options:

  1. Pick-up at FAMI office (Head office Makati or Binondo)
  • Must bring two (2) valid IDs
  • In-case of a representative, an authorization letter should accompany the shareholder’s ID and the ID of the duly authorized representative

      2. Switch to other FAMI fund

      3. Deposit to bank account (Bank account name should be FAMI client on record*)

*if bank account name is different from FAMI client, a letter of authorization is required to be submitted with the redemption form.

Computing the NAVPS upon redemption

For determining the value of a redemption, the effective NAV per share shall be the NAVPS for the same banking day when the request is made, provided the request is submitted before the daily cut-off time of 12 o’clock noon. Redemptions made after the cut-off time shall be valued at the NAVPS on the following banking day.

 

 

 

First Metro Asset Management Inc