Here’s the difference between the two fund products in Maya Funds
MAYA FUNDS – This article will teach you about the difference between Unit Investment Trust Fund (UITF) and Mutual Fund (MF).
The Unit Investment Trust Fund (UITF) and Mutual Fund (MF) are the fund products available in this feature for upgraded Maya users.
With Maya Funds, you can invest in these fund products and you can also access products by fund providers ATRAM Trust Corporation (ATRAM) and BPI Investment Management, Inc. (BIMI).
UITF and MF are fund products where multiple investors pool their money together so that a fund manager can invest it on their behalf. The fund manager then charges an annual Trust/Management Fee for managing the fund.
These fund products are similar in nature but are technically different products. Here’s the differences between these fund products:
- Unit Investment Trust Funds are usually managed by banks or trust corporations, while Mutual Funds are managed by insurance companies or fund houses.
- Unit Investment Trust Funds are regulated by the BSP (Bangko Sentral ng Pilipinas), while Mutual Funds are regulated by the SEC (Securities and Exchange Commission).
- Ownership for Unit Investment Trust Funds is expressed in “Units”, while ownership for Mutual Funds are expressed in “Shares”.
But before you start investing in a fund product, you need to consider your investment objectives and appetite for risk. Answering the risk profiling questionnaire helps Maya recommend suitable fund products to you.
Keep in mind that each fund product has its own minimum investment requirement. You need to make sure that your Maya wallet has enough money in order for you to fulfill orders.
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