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Trust firm expects the Philippine economy to continue growing well.

A representative of AIA Philippines’ investment management division is upbeat about the strong growth of the domestic economy as the manufacturing sector keeps growing.

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Angie Pacis, chief executive officer of AIA Investment Management and Trust Company Philippines (AIAIM Philippines), stated in a briefing on Thursday that the manufacturing sector of the nation is anticipated to keep expanding after reaching a seven-month high in January 2023.

Businesses will still be on a growth trajectory, notwithstanding a minor decline in consumer and business confidence, according to her.

In the first month of this year, the S&P Global Manufacturing Purchasing Managers Index (PMI) reached 53.5. An index of 50 or higher denotes expansion, whereas one of 50 or less denotes contraction.

According to Pacis, estimates suggest that the index will remain at 50 in the upcoming months.

Given the significant number of young people entering the workforce this year, Pacis also named demographic dividends as one of the elements that will support domestic growth.

It has a large, young population and a burgeoning middle class that is actually strengthening. Because of this, despite some structural issues, we will continue to draw investments,” she noted.

These elements are expected to support the AIAIM Philippine company, which has been operating for a year and now offers three unit investment trust funds (UITFS), the AIA Peso Adventurous Fund, AIA Peso Balanced Fund, and AIA Peso Conservative Fund.

According to Pacis, the goods they are providing are currently only accessible to AIA Philippines policyholders, and the PHP155 billion in assets they already possess will be handled completely without regard for the needs of foreign investors.

She continued, “We’re not going to handle third-party funds at this time.”

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