App-based ride service provider Grab Philippines, and First Metro Asset Management, Inc. (FAMI), the fund management subsidiary of First Metro Investment Corporation, have signed a Memorandum of Agreement (MoA) to develop and improve the financial literacy of Grab’s partner-drivers.
By providing seminars focused on Practical Finance and Investment Literacy, FAMI aims to increase the knowledge of the partner-drivers in managing their finances to reach their financial and wealth goals. The seminars will talk about financial goal-setting, budgeting, education planning, retirement planning, investment planning, and family finance.
Grab Philippines president Brian Cu said, “On the Grab platform, we have more than 70,000 providers that bring people where they need to go, deliver their beloved milk teas and favorite food. Because of the additional income they have, being able to teach them better management of their income through financial literacy is very important for them and their family’s future.”
With this partnership, partner-drivers also get access to FAMI’s expertly managed mutual funds, giving them exposure to the financial markets, whether in bonds, stocks, or a combination of both. These funds provide higher returns than the ordinary savings and time deposits, fast-tracking the growth of their money.
The partner-drivers will also be given their own relationship manager who can advise them on the best investment strategy to help them achieve their financial goals, whether it be for short-, medium-, or long-term horizon like travel, children’s education, business capital, or retirement.
“This partnership with FAMI is something we have been looking forward to because we believe it will help our drivers become financially aware, have an avenue where they can invest their extra savings, and to be able to achieve their plan and goals for their family,” added Cu.
FAMI president Karen Liza Roa said, “It’s being able to push forward with the advocacy of having to help our Filipino countrymen learn how to invest, how to save, and Grab is a symbol of the many hardworking Filipinos. And at First Metro Asset, we are here to help them along, educate them so that their dreams of being able to provide for their family become a reality.”
FAMI is a multi-awarded asset management company that currently manages the seven Save & Learn mutual funds, the country’s first and only ETF, the First Metro Philippine Equity Exchange-Traded Fund, and the First Metro Consumer Fund. The company is a partnership among First Metro, the Catholic Educational Association of the Philippines and the Marist Brothers Foundation.