MANILA – The Bangko Sentral ng Pilipinas (BSP) has revised its rules to allow more overseas Filipinos to invest in Personal Equity and Retirement Account (PERA) Unit Investment Trust Funds (UITFs) by exempting them from the non-resident ownership limit previously applied to such funds.

Under the new rules, PERA-UITFs accredited by the BSP are now exempt from the 10 percent cap on non-resident ownership that restricted their ability to invest in BSP securities, which are debt instruments issued by the central bank.

Previously, UITFs could only invest in BSP securities if non-residents held less than 10 percent of the fund. The amendment now allows PERA-UITFs to invest without that restriction, broadening their investment opportunities.

At present, nine of the 13 PERA-UITFs exceed the 10 percent ownership limit, preventing them from investing in BSP securities. With the exemption, these funds can now diversify their portfolios further.

UITFs, which are managed by banks and trust companies and regulated by the BSP, pool investors’ money to create diversified portfolios, even for small investors. They function similarly to mutual funds, which are managed by investment companies under the supervision of the Securities and Exchange Commission.

The BSP said the policy change supports its goal of improving financial health by enabling Filipinos—whether based locally or abroad—to build secure and sustainable retirement savings. The measure also aims to strengthen the country’s private pension system and deepen domestic capital markets.