I’ve been hearing all the buzz surrounding COL Fund Source (CFS), the
new product introduced by COL Financial. CFS is the Philippines’ 1st
and only online mutual funds supermarket. Since I want to be in the know, I attended COL’s Investing in Mutual Funds via COL Fund Source seminar last August 7, 2015.
If you are not familiar with the Mutual Funds (MF) model, these are pooled funds from assorted investors which are managed by investment professionals and placed in different asset classes like equities, bonds and securities.
I first learned about mutual funds in my third year college finance class. I remember being very excited learning about this financial tool. Pre-MF knowledge, I had thought that the only way to invest in the stock market was by going through it personally. The prospect of having a full time investment professional handle my money and investments seemed like the most sensible thing, specially for someone not well-versed in the stock market.
I had opened my first mutual fund account before that semester ended. I still remember searching for the nearest branch of the mutual fund company I was going to invest in. After taking 2 jeeps, the MRT (dun dun dun) and some walking I finally reached the office. I had to wait though since their was no agent present at the branch. When the financial adviser arrived, I filled out the application form, answered the risk profiler, invested my money and commuted back home.
After a week, I realized I wanted to topup my account so I went to the bank to (I haven’t discovered the wonderful world of online banking then) withdraw and redeposit my money to the MF company’s account. After this, I had to fax (I was told they don’t accept e-mails!) the deposit slip and top up form to branch. Once my balance was received, I received email and SMS confirmation.
I also registered myself on the online website of the MF company where I could check the performance of my account. I opted to get daily emails regarding the unit price of the fund I chose. Apart from these daily email reports I also receive quarterly direct mail reports regarding the status of my investment.
If you are not familiar with the Mutual Funds (MF) model, these are pooled funds from assorted investors which are managed by investment professionals and placed in different asset classes like equities, bonds and securities.
Using CFS vs the Traditional Mutual Fund Investment Process
Traditional Mutual Funds Investing Process
I first learned about mutual funds in my third year college finance class. I remember being very excited learning about this financial tool. Pre-MF knowledge, I had thought that the only way to invest in the stock market was by going through it personally. The prospect of having a full time investment professional handle my money and investments seemed like the most sensible thing, specially for someone not well-versed in the stock market.
I had opened my first mutual fund account before that semester ended. I still remember searching for the nearest branch of the mutual fund company I was going to invest in. After taking 2 jeeps, the MRT (dun dun dun) and some walking I finally reached the office. I had to wait though since their was no agent present at the branch. When the financial adviser arrived, I filled out the application form, answered the risk profiler, invested my money and commuted back home.
After a week, I realized I wanted to topup my account so I went to the bank to (I haven’t discovered the wonderful world of online banking then) withdraw and redeposit my money to the MF company’s account. After this, I had to fax (I was told they don’t accept e-mails!) the deposit slip and top up form to branch. Once my balance was received, I received email and SMS confirmation.
I also registered myself on the online website of the MF company where I could check the performance of my account. I opted to get daily emails regarding the unit price of the fund I chose. Apart from these daily email reports I also receive quarterly direct mail reports regarding the status of my investment.
The name of the company may or may not have been changed. You guess.
