PRODUCTS:
DOLLAR BOND FUND

Investment Policy
The principal objective of the Fund is to outperform (gross of fees and taxes) the benchmark JP Morgan Chase Asia Total Returns Philippines Index.

Features of the Fund
Fund Structure:	Unit Investment Trust Fund (UITF)
Fund Currency:	US Dollar
Launch Date:	May 5, 2003
Minimum Participation Amount:	US$ 500.00
Minimum Additional Investment:	US$ 100.00
Front-End Fee:	Maximum of 2% (Please See Table Below)
Minimum Holding Period:	20 Days
Early Redemption Penalty:	1% of Redemption Amount
Minimum Redemption Amount:	US$ 100.00
Redemption Notice Period:	5 Banking Days
Trust Fee:	1.20%
Duration of the Fund:	Average duration of the Fund will be 5 years
Recommended Investment Horizon:	More than 3 years
Valuation of the Fund:	Marked-to-Market
Initial Net Asset Value Per Share:	US$ 10.00

Front-End Load / Fee
Amount of Investment	Front-End Fee
100 - 4,999	2.00 %
5,000 - 14,999	1.75 %
15,000 - 24,999	1.50 %
25,000 - 34,999	1.25 %
35,000 - 49,999	1.00 %
50,000 - up	0.75%

PHILIPPINE EQUITY FUND

Investment Policy
The principal objective of the Fund is to outperform (gross of fees and taxes) the benchmark, PSEi.

Features of the Fund
Fund Structure:	Unit Investment Trust Fund (UITF)
Fund Currency:	Philippine Peso
Launch Date:	May 5, 2003
Minimum Participation Amount:	Php 10,000.00
Minimum Additional Investment:	Php 5,000.00
Front End Fee:	Maximum of 2%(Please See Table Below)
Minimum Holding Period:	15 Days
Early Redemption Penalty:	1/4 of 1% of redemption amount
Minimum Redemption Amount:	Php 5,000.00
Redemption Notice Period:	5 Banking Days
Trust Fee:	1.20%
Recommended Investment Horizon:	At least 2 to 3 years
Valuation of the Fund:	Marked-to-Market
Initial Net Asset Value Per Unit:	Php 100.00

Front-End Load / Fee
Amount of Investment	Front-End Fee
5,000 - 99,999	2.00 %
100,000 - 299,999	1.75 %
300,000 - 499,999	1.50 %
500,000 - 699,999	1.25 %
700,000 - 999,999	1.00 %
1,000,000 - up	0.75%

DIVERSIFIED BALANCED FUND

Investment Policy
This fund aims to provide investors the opportunity to participate in shares of stocks with high dividend income yield as well as long term capital appreciation by investing in a diversified portfolio of equities listed in the Asia Pacific region. The fund is benchmarked against the total return MSCI AC Asia Pacific ex Japan Index.

Asset Allocation
Asset Class	Investment Range (%)
Domestic Bonds	40 - 70
Domestic Equities	30 - 60
Cash	0 - 30

Features of the Fund
Fund Structure:	Unit Investment Trust Fund (UITF)
Fund Currency:	Philippine Peso
Launch Date:	May 12, 2003
Minimum Participation Amount:	Php 5,000.00
Minimum Additional Investment:	Php 5,000.00
Front End Fee:	Maximum of 2% (Please See Table Below)
Minimum Holding Period:	15 Days
Early Redemption Penalty:	1% of redemption amount
Minimum Redemption Amount:	Php 5,000.00
Redemption Notice Period:	4 Banking Days
Trust Fee:	1.20%
Duration of the Fund:	The portion of the fund allocated to fixed income will have an average duration of approximately 3 years.
Recommended Investment Horizon:	At least 2 to 3 years
Valuation of the Fund:	Marked-to-Market
Initial Net Asset Value Per Unit:	Php 100.00

Front-End Load / Fee
Amount of Investment	Front-End Fee
5,000 - 99,999	2.00 %
100,000 - 299,999	1.75 %
300,000 - 499,999	1.50 %
500,000 - 699,999	1.25 %
700,000 - 999,999	1.00 %
1,000,000 - up	0.75%