URRABI

i see...

thanks, doc!

to mr talley and mr dr_pepper (mister na, doctor pa)

thanks for the enlightenment. much appreciated.

another question...are mutual funds also valued using mark-to-market?

thanks.

urrabi

**************** WARNING ******************

I am by no means an expert nor do I play one on TV

************* END OF WARNING ***************

my take on the UITF vs mutual funds issue, based on my research...

Mutual funds:

1. managed by an investment company

2. stricter regulations

* governed by Investment Company Act of the Philippines

* regulated by the SEC; investment companies are required to submit regular reports to the SEC

* mutual funds professionals need to be licensed

UITF:

1. managed by the bank

2. less regulations

* no specific provisions governing UITFs

* banks are not required to submit regular reports

* bank personell selling UITFs are not required to be licensed

to doc, and others more knowledgeable than I...would you say the points above are accurate?

thanks.

urrabi