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On October 24, 2017, the First Metro Investment Corporation and MSCI, Inc. officially launched a brand new customized stock index called the First Metro Index on MSCI Philippines IMI.
First Metro Investment Corporation is a part of the Metrobank group and it’s one of the biggest investment banks in the Philippines. It has received several awards such as the Best Investment Bank of 2016 by Global Finance magazine and by Euromoney, multiple Best Bond House awards by FinanceAsia, and many more. Through their subsidiary, the First Metro Asset Management, Inc. (FAMI), First Metro partnered with MSCI, Inc. which is a world-renowned index provider that has over $11 Trillion worth of assets benchmarked to their indexes as of 2016.
Now why is that important? How can you use that new index to improve your investing strategy and investment portfolio? Well first off, let’s learn a bit more about indexes, mutual funds, and passive investing.