MANILA, Philippines — Manulife Investment Management and Trust Corporation has officially secured regulatory accreditation from the Bangko Sentral ng Pilipinas (BSP) and the Bureau of Internal Revenue (BIR) to roll out a specialized retirement investment product under the Personal Equity and Retirement Account (PERA) system.
In an official advisory letter sent on September 11, BSP Senior Director Jose Recon Tano informed the BIR that the central bank granted formal clearance for Manulife Trust to launch the new retirement vehicle. Following this endorsement, BIR Commissioner Charlito Mendoza released Revenue Memorandum Circular (RMC) No. 111-2026 to formally announce the availability of the fund to the public.
The newly cleared product, labeled the Manulife Global Semiconductor Opportunities Equity PERA Feeder Fund, functions as a peso-denominated equity feeder fund designed for aggressive risk profiles. This addition diversifies the portfolio of tax-advantaged retirement instruments accessible to Filipino employees, enabling aggressive investors to tap into worldwide growth within the global semiconductor sector.
Regulated by the BSP as an open-ended pooled trust mechanism, the unit investment trust fund (UITF) underwent strict regulatory evaluations mandated by the PERA Act of 2008 before receiving accreditation.
Within the circulated directive, Mendoza underscored that tax exemptions apply strictly to authorized financial instruments:
“It is emphasized that only income generated from the investments and reinvestments of PERA assets in the PERA investment products duly approved or accredited by the concerned regulatory authority shall be exempt from income taxes.”
The circular further clarified that government security placements enjoy identical tax relief under the law:
“Moreover, income from investments and reinvestments of PERA assets in government securities is likewise exempt from income taxes under the said provisions.”