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THIS DOCUMENT IS THE PROPERTY OF BPI ASSET MANAGEMENT AND TRUST CORPORATION. FOR INTERNAL USE ONLY.

THIS DOCUMENT IS THE PROPERTY OF BPI ASSET MANAGEMENT AND TRUST CORPORATION. FOR INTERNAL USE ONLY.THIS DOCUMENT IS THE PROPERTY OF BPI ASSET MANAGEMENT AND TRUST CORPORATION. FOR INTERNAL USE ONLY.THIS DOCUMENT IS THE PROPERTY OF BPI ASSET MANAGEMENT AND TRUST CORPORATION. FOR INTERNAL USE ONLY.


2019

Fixed Income MoM YTD YoY

Local Currency Bond Index** -2.16% -0.57% 19.23%

FTSE World Gov’t Bond Index (formerly Citi World Gov’t Bond Index) 2.10% 2.17% 2.52%

JACI Philippines 6.88% -0.36% 10.24%

Equities

MSCI World Equity Index 19.79% -15.37% 21.19%

PSEi 19.98% -26.64% 4.68%

Currencies

USD/PHP*** 0.35% 50.79 50.64

*Peso returns are calculated based on the last calendar days

Benchmark

***YTD depreciation of the Php at 0.31%

PHP Returns*

as of 20 April 2020

**As of 31 March 2020


Asset Returns 16 Apr Lowest 10Y Yield In a Crisis

USD 4.5Trn of Money Market Flows


-34%

+23%

S&P 500 Peak To Trough In 8-Weeks

37 days 25 days


Lowest 10Y Yield In a Crisis


Phase 1

Phase 2

Phase 3


Rate of Work Resumption By Sectors

▪ Full work resumption to work by early May (4-weeks after it was announced its out of lockdown)

▪ Pandemic process took 12-weeks from containment to 100% work compliance▪ Many businesses face a slump in demand both domestically and externally.


-15

-10

-5

0

5

10

15

198

2

198

4

198

6

198

8

199

0

199

2

199

4

199

6

199

8

200

0

200

2

200

4

200

6

200

8

201

0

201

2

201

4

201

6

201

8

202

0Source: Philippine Statistics Authority (PSA), BPI AMTC estimates

2018A 2019A 2020F

Household 5.6% 5.8% 0.0%

Government 13.0% 10.5% 15.0%

Capital

Formation13.2% -0.6% 0.0%

Exports 13.4% 3.2% -10.0%

Imports 16.0% 2.1% -7.0%

GDP 6.2% 5.9% 0.7%

Real GDP Growth Actual and Forecasts

GFCAFC

Post-Martial

law

Historical Quarterly GDP Growth (in %)

Power

crisis

1Q20F 2Q20F 3Q20F 4Q20F

GDP 2.1% -5.9% 0.5% 5.7

Source: Philippine Statistics Authority (PSA), BPI AMTC estimates


Returns

MOM YTD

BPI GS Overall Index 1.29% 1.33%

BPI GS 1-3 Index 0.61% 0.34%

BPI GS 1-5 Index 0.84% 0.32%

BPI GS 5+ Index 1.60% 2.04%

BPI GS Liquid Index 1.32% 1.35%

BPI GS Money Market Index 0.30% 0.55%

BPI Corporate Bond Index 0.81% 1.47%

BPI Govt Bond Index

10YR Yields Have Fallen From Highs


PH: EPS Drivers (Post COVID-29)

2020 2021 2020 2021

Conglomerates 2.76% 12.45% -13.93% 14.37%

Banks 3.33% 11.83% -31.46% 36.39%

Property 12.59% 11.07% -13.41% 11.07%

Consumer, Restaurants and Retail 25.52% 12.74% -8.89% 37.26%

Power and Utilities 14.28% -1.64% 4.28% 12.97%

Telecommunications 3.91% -6.69% 3.91% -6.69%

Gaming -23.23% 40.79% -76.77% 365.22%

Weighted EPS Growth 6.13% 10.48% -16.48% 23.99%

Average EPS Growth 10.01% 10.40% -11.51% 31.49%

Initial EPS Growth (YoY)Sectors

New EPS Growth (YoY)

(Sensitivity)


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CONSERVATIVE

▪ Reduce holdings in TDs – unless its for parking

▪ Investment Grade Bonds are best

▪ Look for bond funds with more accrual features.

▪ Avoid floaters

MODERATE

▪ Phased purchases –Equity Index / Active

▪ Preferred shares are ok but be careful earnings risks abound

▪ Opt for medium duration bond fund (more GS > Corps)

AGGRESSIVE

▪ Cost avg - $ and peso equity funds

▪ Have exposure in equity funds heavy in China

▪ Longer duration bond funds with ALL GS or mostly GS


MODERATELYCONSERVATIVE

MODERATELYAGGRESSIVE

AGGRESSIVECONSERVATIVE

What is your Investment Personality?

Wants peace of mind

Prioritizes safety

Okay with low returns

Wants higher income

Slow but sure

Accepts some degree of volatility

Not afraid of losses in the short term

Takes advantage of volatility

Understands that there can be huge losses, but

also expects higher returns

Sees market decline as opportunities


Money Market

Fixed Income

Equities

REWARD

RIS

K

Risk-Reward Trade-off


Asset Class

BPI Unit Investment Trust FundsPhilippine Peso Foreign Currency

Money Market

BPI Invest Short Term FundBPI Invest Money Market Fund

BPI Invest US Dollar Short Term Fund

FixedIncome

BPI Invest Premium Bond FundOdyssey Peso Med. Term Bond FundOdyssey Peso Bond FundABF Bond Index Fund

BPI Invest Phil. Dollar Bond FundOdyssey US Dollar Bond FundBPI Invest Global Bond Fund of Funds

Equity and Balanced

BPI Invest Balanced FundOdyssey Diversified Capital FundOdyssey Diversified Balanced FundBPI Invest Equity Value FundBPI Invest Philippine Equity Index FundBPI Invest PH Infrastructure Equity Index FundBPI Invest PH Consumer Equity Index FundOdyssey Philippine Equity FundOdyssey Philippine High Conviction Equity Fund

BPI Invest US Dollar Income Feeder FundBPI Invest Catholic Values Global Equity Feeder FundBPI Invest Global Equity Fund-of-FundsBPI Invest US Equity Index Feeder FundBPI Invest European Equity Feeder FundOdyssey Philippine Dollar Bond FundOdyssey Asia Pacific High Dividend Equity Fund


ANNUALIZED PERFORMANCE

I YR 3 YRS 5 YRS

FUND 3.40% 2.66% 2.17%

NAVPU GRAPH

• Ideal for building emergency funds or for cash management

• Provides both liquidity and stable returns

• Best for clients who have low risk tolerance and do not want to experience too much fluctuations in their investments

• Minimum Initial Investment: Php10,000

* As of Feb 2020

BPI INVEST SHORT TERM FUND



I YR 3 YRS SI

FUND 1.84% 1.49% 1.40%

NAVPU GRAPH

• Ideal parking facility of US Dollar reserves

• Provides both liquidity and stable returns

• Best for clients who have low risk tolerance and do not want to experience too much fluctuations in their investments

• Minimum Initial Investment: USD 500

* As of Feb 2020** SI June 1, 2015

BPI INVEST US DOLLAR SHORT TERM FUND



I YR 3 YRS 5 YRS

FUND 15.47% 3.94% 2.86%

NAVPU GRAPH

• Bond Index Tracker with averageduration of 6.65 years

• Ideal for those with an investmenthorizon of at least 5 years

• Provides capital appreciation andincome


* As of Feb 29, 2020

ABF PHILIPPINES BOND INDEX FUND



I YR 3 YRS 5 YRS

FUND -11.52% -1.84% -2.49%

NAVPU GRAPH

• Ideal for those with long-terminvestment horizon and with aggressiverisk profiles

• Invests in a diversified portfolio ofstocks comprising the PSEi in the sameweights as the index


* As of Feb 29, 2020

BPI INVEST PHILIPPINE EQUITY INDEX FUND



I YR 3 YRS SI

FUND 6.46% 8.05% 6.20%

NAVPU GRAPH

• Ideal for those with long-term investment horizon and with aggressive risk profiles

• Invests in a diversified portfolio of stocks comprising of various pooled funds globally

• Geographical allocation: North America (60%), Europe (23%), Asia Pacific (10%), etc.

• Minimum Initial Investment: USD 500

* As of Feb 29, 2020

BPI INVEST GLOBAL EQUITY FUND OF FUNDS


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