By Marinel Peroy
Photos from THEPHILBIZNEWS
With its continuing mission to ensure financial inclusion and empower Filipino people through responsible personal financial management, GCash launched GStocks Philippines on April 17, at The Philippine Stock Exchange Tower in BGC, Taguig City.
No less than, Philippine Stock Exchange President and Chief Executive Officer Ramon S. Monzon discussed the stock market investment opportunities for the Filipino people to take advantage of stock market investment.
Monson also noted that the improving market condition after the pandemic will be an opportune time for Filipinos to invest. He also presented the demographic and psychographic profiles of investors who are currently engaged in the stock market and expressed hope that Filipino migrant workers and their families will look into this opportunity.
The PSE President and CEO lauded GCash for launching the GStocks PH that democratized the way for Filipinos to invest in the stock market and even planned to roll out lower investment to encourage more Filipinos to take a look at the stock market investment.
Meanwhile, AB Capital & Investment Corp. Executive Chairman Antonio Jose Periquet Jr, said that there is no “spread” in buying and selling the stocks for GStocks PH users. He even said the commission is lower than the usual traditional way of buying and selling shares. AB Capital & Investment Corp. is the appointed broker of GStock.
For GCash’s VP and Head of Wealth Management Jong Layug, he said that GStocks PH can serve as the digital solution that broadens access for more Filipinos to invest in local stocks.
Speaking with THEPHILBIZNEWS, Layug described the 2024 outlook of GStocks as “optimistic, encouraged, and passionate,” noting that the support of different parties such as PSE and Securities and Exchange Commission has helped remove hindrances along the way.
Linking this to how GCash is expanding overseas, Layug said that as they are committed to make Filipinos’ lives easier and with GStocks, they also target the Filipino Migrant Workers by educating them.
“At some point, we also want Filipinos overseas to invest their money wisely,” he added. The GCash team is also checking the legal processes and compliance with the regulations to make this happen and encourage others to manage their finances wisely.
Layug expressed that Filipinos can relate to the concept of YOLO or “you only live once”, yet this factor can affect their lives in the long run. This is why he emphasized the need to have a “mindset change — we have to actually prepare for the future.” Indeed, it is crucial to take accountability for one’s life with the responsibility toward having financial freedom or security.
To date, nearly half a million users have already signed up for the app feature of GStocks Philippines. To provide helpful tips and innovative approaches to GStocks PH users, GCash has also collaborated with AB Capital Securities, Inc. which includes an ‘adulting’ video series, ABCSI market tips, and shared programs with partners and regulators.
With GStocks PH, many Filipinos now have “access” to a user-friendly way of stock investing journey with Philippine equities.
“We’re very hopeful about this GStocks’ initiative together with GCash and the Philippine Stock Exchange. This is not just a business venture for us, it is an advocacy for financial inclusion for the Filipino people,” said Executive Director Antonio Jose Periquet Jr. of AB Capital & Investment Corporation (ABCIC).
