Vantage Equities Pre-Incorporation Investment in Subsidiary, Philequity Alpha One Fund
Vantage Equities Inc. (PSE: V) will subscribe to one hundred twenty-five million shares at pre-incorporation of Philequity Alpha One Fund Inc. at PhP1.00 par value. This was approved by the board on October 15, 2018. Vantage Equities paid PhP31.25 million on October 15 for the 25% of the 125 million shares subscribed.
Vantage Equities’ investment in Philequity Alpha One Fund is part of the company’s investment portfolio diversification. Philequity Alpha One Fund will be incorporated to engage in the business of an open-end investment company.
An open-end investment company or a mutual fund company is a collective investment scheme that can issue and redeem shares any time. For both acquiring and disposing of his shares, an investor deals directly with the mutual fund company itself, rather than existing shareholders or third parties. Philequity Alpha One Fund will have for its primary purpose invest and re-invest in, sell securities of all kinds, including stocks, bonds, commercial papers, etc.
