COL Financial to distribute Sun Life mutual funds
The online news portal of TV5
MANILA - COL Financial Group Inc sealed a partnership with Sun Life to expand the former's product offerings.
In a disclosure to the Philippine Stock Exchange, the leading online brokerage said it inked a memorandum of agreement with Sun Life Asset Management Co Inc, subject to COL's acquisition of a mutual fund distributor license from the Securities and Exchange Commission (SEC).
"Under the MOA, COL may, upon instruction of its customers, invest in certain funds of [Sun Life]," the listed firm said.
Last week, COL struck a deal with Bank of the Philippine Islands – Asset Management and Trust Group to make the Ayala-led bank's unit investment trust funds available to the brokerage's customers through its online platform.
COL is engaged in the business of brokerage and/or dealership of securities, and provides stock brokerage services through the Internet.
At end-September, COL was the number one stockbroker in terms of volume of transactions handled, with a market share of 24 percent.