SB Global Equity Index Feeder Fund

A Multi-Class Equity Feeder Unit Investment Trust Fund

The SB Global Equity Index Feeder Fund allows you to invest in equities across developed and emerging markets from around the world.

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Diversification

Investments (and risks) are spread across various asset baskets industry wide.

Liquidity

You can subscribe and redeem on any banking day.

Affordability

You can start investing in this UITF with just $1,000 (SB dollar account required).

Professional Fund Management

Seasoned fund managers constantly monitor markets for opportunities.

Transparency

You can check the value of your
investment daily with NAVPU.

Regulated Product

Management and regulation of UITFs are governed by the Bangko Sentral ng Pilipinas.

About the fund

The SB Global Equity Index Feeder Fund is an equity feeder fund that aims to invest in equities across developed and emerging markets around the world, enabling the diversification of investors’ portfolios and closely tracking the total returns of its Target Fund, Vanguard Total World Stock ETF.

You may refer to the Target Fund’s website (institutional.vanguard.com) / fact sheet for key information about the Fund.

Client Suitability

SB Global Equity Index Feeder Fund is suitable for investors who:

Has an aggressive risk tolerance.
Seek potentially higher returns through investments in Global stocks and who can tolerate high price volatilities.
Has the possibility to be exposed to capital losses given the volatile nature of the Global equity markets.
Has an investment horizon of at least three (3) years.

Download Key Information and Investment Disclosure Statement

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Fund Name: SB Global Equity Index Feeder Fund

Trustee: Security Bank

Fund type: Multi-class Equity Feeder Fund

+9.72244^%

Year to Date

+20.01549^%

1 Year

+65.987001^%

3 Years

+102.985484^%

6 Years

Starting Navpu

Time Frame Performance

Ending Navpu

Note: The NAVPU shall be computed at the end of each Banking Day and shall be made available to investors the following Banking Day

Fund Details

Target Fund	Vanguard Total World Stock ETF
Fund Type	Multi-class Equity Feeder Fund
Inception Date	July 2, 2018
Order Date	Any Business Day within the Subscription Cut-Off Time and/or Redemption Cut-Off Time.
Subscription Settlement Date	On Order Date
Redemption & Subscription Cut-Off Time	Up to 1:30 pm of any Business Day
Trust Fee (p.a.)	Class A: 0.64% Class B: 0.44% Class F: 0.44%
Valuation Date	A Business Day where the subscription and/or redemption order is executed. Order Date is the Trade Date.
Other Notes	Applicable holidays for this Fund: US and Philippine holidays

Class	Minimum Initial Participation	Minimum Subsequent Participation	Minimum Redemption	Minimum Holding Amount
Class A	USD1,000.00	USD500.00	USD500.00	USD1,000.00
Class B	USD5,000.00	USD1,000.00	USD1,000.00	USD5,000.00
Class F	USD5,000.00	USD1,000.00	USD1,000.00	USD5,000.00

Class A – This Unit Class is open to all individuals and institutions and it is recommended but not limited to those who want to invest in small amounts. This is for individuals and Institutions looking for the flexibility to be able to invest in small amounts with no commitments of additional future subscriptions.

Class B – This Unit Class is only open to institutional investors that are duly registered with Securities and Exchange Commission and existing under the laws of the Philippines, such as partnerships, corporations, government financial institutions, educational institutions, organizations, and foundations, all subscribing on their own behalf, and the structures which such Institutional investors put into place for the management of their own assets. This is for institutions who deal in very large amounts and foresee themselves making very large individual transactions.

Class F – This Unit Class is open to individual investors that meet the Minimum Initial Participation required for the F Unit Class. This is primarily intended for High Net Worth Individuals looking to invest in the amount of USD5,000 and above and foresee themselves making additional investments in the amount of USD1,000 and above.

*High Net Worth (HNI) refers to a Wealth Management customer

Target Fund Information and Performance

(as of March 31, 2026)

TARGET FUND DETAILS

Fund Name	Vanguard Total World Stock ETF
Launch Date	24 June 2008
Management Company	The Vanguard Group, Inc.
Investment Manager	The Vanguard Group, Inc.
Asset Class	Exchange Traded Fund (ETF)
Expense Ratio	0.07%
Bloomberg Ticket	TGPVA16U

The effective expense ratio p.a. of the Fund is computed as follows:

	Class A	Class B	Class F
SB Global Equity Index Feeder Fund – Trustee Fees	0.64%	0.44%	0.44%
Vanguard Total World Stock ETF/ Target Fund – Management Fees*	0.07%	0.07%	0.07%
TOTAL	0.71%	0.51%	0.51%

*Expense Ratio of the Target Fund is the sum of the management fees and other fees and expenses.

TOP TEN HOLDINGS

NVIDIA Corp.	4.0%
Apple Inc.	3.6%
Alphabet Inc.	3.0%
Microsoft Corp.	2.7%
Amazon.com Inc.	2.0%
Broadcom Inc.	1.4%
Taiwan Semiconductor Manufacturing Co. Ltd.	1.4%
Meta Platforms Inc.	1.2%
Tesla Inc.	1.0%
Berkshire Hathaway Inc.	0.9%
Total	21.0%

See our Latest Market Commentary

Investment Commentary
(as of April 30, 2026)

The MSCI All Country World Index rose 10.0% in April. Among the major regions, MSCI Korea Index and MSCI Taiwan Index were the strongest performers, advancing 38.2% and 26.2%, respectively, while MSCI South Africa Index, MSCI China Index, and MSCI Brazil Index lagged, gaining 2.2%, 3.5%, and 3.7%, respectively. The MSCI Emerging Markets Index posted a strong rebound of 14.5% in April following a 13.3% decline in March. Both the MSCI EM and the S&P 500 reached all-time highs during the month. MSCI EM outperformed both the MSCI World Index, which gained 9.4%, and the S&P 500, which rose 10.4%. The strong performance in global equities was primarily driven by expectations of a potential Iran-US agreement. A temporary two-week ceasefire took effect on April 8 and was later extended indefinitely by President Donald Trump in order to keep negotiation channels open despite the continued blockade of the Strait of Hormuz. Strong first-quarter 2026 earnings results and guidance from the AI supply chain—supported by recent increases in capital expenditure guidance from US hyperscalers—also drove gains in semiconductor-heavy markets such as Korea (+37.4%) and Taiwan (+26.6%).

Bank of America’s latest fund manager survey reflected the most bearish sentiment in nearly a year, although not sufficiently pessimistic to signal a clear market rebound opportunity. The April survey, authored by chief investment strategist Michael Hartnett and his team, indicated that investor sentiment has deteriorated significantly but has not yet reached full capitulation levels typically associated with contrarian buying signals. According to the survey, seven out of ten respondents do not anticipate a recession, while cash allocations remained unchanged from March at 4.3%, below the elevated levels of 4.8% in April 2025 and 6.3% in October 2022. Despite heightened geopolitical uncertainty stemming from the closure of the Strait of Hormuz, investors have generally refrained from aggressively reducing equity exposure and continue to maintain long positions in global equities. The survey’s key proprietary sentiment indicator—which incorporates cash levels, equity allocations, and growth expectations—has weakened materially, though it remains less extreme than the levels observed during February 2022, April 2025, and the 2008 global financial crisis.

The International Monetary Fund (IMF) lowered its global economic growth forecast as rising tensions between the United States and Iran continue to push energy and food prices higher worldwide. The IMF now expects the global economy to expand by 3.1% this year, down from its previous forecast of 3.3% issued prior to the outbreak of the US-Israel conflict with Iran on February 28. The IMF also raised its global inflation forecast to 4.4%, representing a 0.6 percentage-point increase from its January projection. For the Middle East and North Africa, the 2026 growth forecast was reduced by 2.8 percentage points to 1.1%, while the outlook for the broader Middle East and Central Asia region was lowered by 2.0 percentage points to 1.9%. Meanwhile, eurozone growth is now expected to slow to 1.1% this year from 1.4% in 2025, below the 1.3% forecast released in January. The IMF also modestly reduced its US growth outlook for 2026 to 2.3%, down 0.1 percentage point from its previous estimate.

Click here to view the full report

Disclaimer: The production of this material is to share the updates and/or views of the Fund Managers of Security Bank Corp. thru its Trust & Asset Management Group and the views expressed herein accurately and exclusively reflect his or her personal views. The Fund Managers updates and/or views are not intended to be comprehensive and do not purport to contain all the information that a prospective investor may require. The investor should not rely solely thereon without making any independent analysis or research on any topic covered by the material. The Fund Managers’ updates and/or views are not intended as a substitute for sound investment or risk management advice. No representation or warranty as to its accuracy, reasonableness, or completeness, express or implied is hereby made. In no case shall this material be taken as an offer to engage in investment or trading. Reproduction of this material, whether in whole or in part, is strictly prohibited without the prior consent of Security Bank Corporation. Security Bank Corporation denies any liability that may arise out of any loss or may result in actual, direct, or consequential damage from the use or reliance on content of this material. You acknowledge that you read and understood this Disclaimer and agree to be bound by the conditions therein.

How to invest?

1

You need to have an SB Dollar Account to invest. No peso account yet? Click here to open an account.

2

Fill up the UITF Online Application Form completely or visit any SBC branch near you to start with your investment journey.

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Key Risks

Market/Price Risk – This is the possibility for the Fund to experience losses due to changes in market prices of equities or bonds. It is the exposure to the uncertain market value of these investments due to price fluctuations. It is the risk of the Fund to lose value due to a decline in securities prices, which may sometimes happen rapidly. The value of investments fluctuates over a given time period because of general market conditions, economic changes, or other events that impact large portions of the market such as political events, natural calamities, etc. As a result, the NAVPU may increase to make a profit or decrease to incur a loss.

Liquidity Risk – This is the possibility for the Fund to experience losses due to the inability to sell or convert the investments into cash immediately or in instances where conversion to cash is possible but at a loss. This may be caused by different reasons such as trading in securities with small or few outstanding issues, absence of buyers, limited buy/sell activity or an underdeveloped capital market. Liquidity risk occurs when certain investments in the Fund’s portfolio may be difficult or impossible to sell at a particular time which may prevent allowing withdrawal from the account with until its assets can be converted to cash. Even government securities which are the most liquid fixed income securities may be subjected to liquidity risk particularly when a sizeable volume is involved.

Counterparty Risk – This is the possibility for the Fund to be exposed to risks relating to the credit standing of its counterparties and to their ability to fulfill the conditions of the contracts it enters into with them. In the event of a bankruptcy or insolvency of a counterparty, the Fund could experience delays in liquidating the position and incur losses, including declines in the value of its investment during the period in which the fund seeks to enforce its rights, inability to realize gains on its investment during such period and fees and expenses incurred in enforcing its rights under the contracts. There is also a possibility that the above contracts are terminated due, for instance, to bankruptcy, supervening illegality or change in the tax or accounting laws relative to those at the time the contracts were originated.

Foreign Exchange Risk – This is the possibility for the Fund to experience losses due to fluctuations in foreign exchange rates. The exchange rates depend upon a variety of global and local factors such as interest rates, economic performance, and political developments. It is the risk of the Fund to currency fluctuations when the value of such investments denominated in currencies other than the base currency (Peso) depreciates. Conversely, it is the risk of the Fund to lose value when the base currency (Peso) appreciates. The NAVPU of a peso denominated Fund invested in foreign currency denominated securities may decrease to incur losses when the peso appreciates.

Country Risk – This is the possibility for the Fund to experience losses arising from investments in securities issued by/in foreign countries due to changes in the political, economic and social structures of such countries. There are risks in foreign investments due to the possible internal and external conflicts, currency devaluations, foreign ownership limitations and fiscal/monetary policies of the foreign country involved which are difficult to predict but must be taken into account in making such investments. Likewise, brokerage commissions and other fees may be higher in foreign securities. Government supervision and regulations of foreign stock exchanges, currency markets, trading systems and brokers may be less than those in the Philippines. The procedures and rules governing foreign transactions and custody of securities may also involve delays in payment, delivery or recovery of investments.

Equity Risk – The value of the Fund that invest in equity and equity related securities will be affected by economic, political, market, sectoral, and issuer specific changes. Such changes may adversely affect securities, regardless of the Fund’s specific performance. Additionally, different industries, financial markets, and securities can react differently to these changes. Such fluctuations of the Fund’s value are often exacerbated in the short-term as well. The risk that one or more companies in the Fund’s portfolio will fall, or fail, or rise, can adversely affect the overall portfolio performance in any given period.

Stock Market Cyclical and Concentration Risk – Stock markets tend to move in cycles, with periods of rising prices and periods of falling prices that will affect the Fund’s performance. In addition, the Fund’s targeted actual index may, at times, become focused in stocks of a particular market sector, which would subject the Fund to proportionately higher exposure to the risks of that sector.

Index Sampling Risk – The possibility that the securities selected for the Fund, in the aggregate, will not provide investment performance matching that of the Fund’s targeted actual index and its respective composition given the margin of variance allowed for the Fund.

Emerging Markets Risk – The possibility for the Fund to invest in less developed or emerging markets. Investing in emerging markets may carry a higher risk than investing in developed markets. The securities markets of less developed or emerging markets are generally smaller, less developed, less liquid and more volatile than the securities markets of developed markets. The risk of significant fluctuations in the Net Asset Value and of the suspension of redemptions in these types of funds may be higher than for funds investing in major markets.

Taxation

Except when specifically required by law, the Trustee shall have no responsibility to withhold income or other taxes on revenues from the Fund.
Each participant should consult its own tax advisor as to the specific tax consequences of his/her investment in and redemption of units of participation in the Fund, including the applicability and effect of local and national laws of the Philippines, as well as consequences arising under the laws of any other taxing jurisdiction.

Frequently Asked Questions

What is a UITF?
A UITF (or Unit Investment Trust Fund) is an open-ended pooled trust fund denominated in pesos or in any acceptable currency, which is operated and administered by a trust entity. Each UITF is governed by a Declaration of Trust (or Plan Rules) which contains the mechanics for investing, operating, and administering the fund. The funds are then invested by a team of professional portfolio managers in various deposits and securities. Individuals and institutions take part in the UITF by purchasing units of participation in the fund.
What is the difference between a Mutual Fund and a UITF?
- A. Where to invest
  - Mutual Fund (MF): A mutual fund company. They are sold by licensed mutual fund agents.
  - Unit Investment Trust Fund (UITF): Commercial banks, particularly their trust or asset management department. They are sold by certified UITF sales personnel.
- B. Who regulates these companies
  - MF: Securities and Exchange Commission (SEC)
  - UITF: Bangko Sentral ng Pilipinas (BSP)
- C. What you are buying in a fund
  - MF: Common shares in the investment company
  - UITF: Units of participation in the UITF
- D. The price of the fund is expressed in terms of
  - MF: Net Asset Value Per Share (NAVPS)
  - UITF: Net Asset Value Per Unit (NAVPU)
- E. Investment fees and their usual range
  - MF: sales charge (1% – 5%); redemption fee (0.5% – 3%); investment advisory, distributor and administration fees (1% – 2.5%)
  - UITF: trust fees (0.35% – 1.50%)
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What are the fees involved?
The trustee shall charge the fund for management fees, taxes and qualified expenses. The trust fee shall differ for each type of fund and will cover the costs of investment research, management, marketing and routine administrative expenses of the trustee. Note that the taxes are already withheld by the trustee so the NAVPU is already net of fees and taxes.
What are the risks of investing in a UITF?
Because the assets of the UITF are valued based on the prevailing market price, there is a possibility that investments in the fund may go up or down. There are no guarantees of principal nor income. Losses, if any, shall be for the risk of the UITF investors. UITFs are governed by BSP regulations but are not deposit products, hence are not covered by the Philippine Deposit Insurance Corporation (PDIC).
What does “open-ended pooled trust fund” mean?
A UITF is an open-ended investment, meaning the fund will continue to be managed with no predefined term or termination date. It is up to the investor to determine how long he wants to keep his funds invested.
What does “made available by participation” mean?
A client invests in a UITF by purchasing units of participation in the fund. The units of participation represent the investor’s proportionate share in the total value of the fund. As an investor in the fund, the client does not own any specific asset of the fund, only a proportionate share in all of the fund’s assets.
How is a fund different from a bank deposit?
There are several major differences between UITF investments and bank deposits. First, the UITF is a trust product and is managed by the Trust Department of the bank. Second, investments in the UITF are marked to market. Their value can go up or down on a daily basis, depending on the market value of the underlying investments. Third, there is no guaranteed rate of return that the fund will provide. For reference, the fund’s past performance is available. However, it is important to note that past performance is not necessarily indicative of future performance. Fourth, as a result of the daily fluctuations in market value, the principal is not protected. Fifth, the UITF is not covered by PDIC Insurance.
How can an investor compare the performance of the trustee versus other trust entities?
All trust entities offering UITF products are required to publish the fund’s prevailing NAVPU as well as the year-on-year and the year-to-date return on investment in major dailies at least once a week. The investor should, however, compare performance of products with similar investment parameters for a more objective evaluation.
How is a UITF valued?
The UITFs are valued using the mark to market (MTM) method. The term “mark to market” means that the underlying investments of the fund are valued at “fair market value” or the current price at which that asset can be bought or sold. With MTM, investors get an accurate indication of what their units are currently worth. Net Asset Value (NAV) – The Net Asset Value of the fund is the sum total of all the funds’ underlying assets less fees and liabilities. Net Asset Value per Unit (NAVPU) – The NAVPU represents the price per unit of participation. It is computed as the NAV divided by the total number of units of participation in the fund.
Which NAVPU is used when I subscribe or redeem?
When an investor subscribes to the fund, the number of units that he/she will obtain will be based on the NAVPU that will be released at the end of the banking day. Similarly, when an investor redeems, the NAVPU that will be used for computing the redemption proceeds is the NAVPU that will be published at the end of the day.
Can a client invest in more than one type of UITF?
Yes. Clients may diversify their investments across various UITFs as long as the funds are in line with their own investment objective, and they can tolerate the risks involved with the funds.
Which type of UITF is suitable for an investor?
When choosing a UITF, investors should identify their needs and goals and match them against the investment parameters of the product. To determine the client’s suitability for a fund, the following factors have to be considered: investment capacity, or the amount available for investment; investment horizon, or how long a client can stay in the fund; risk profile, or how much price volatility the client is willing to take; and investment objective, whether the client wants income or capital growth.
Is there an indicative or guaranteed rate of return for UITF products?
No. Since UITFs are subject to the mark to market valuation method, the NAVPU may fluctuate depending on the volatility of the market. The return figures published by Security Bank only represent how the fund has performed in the past. This does not necessarily mean that the fund will give the same return over a similar period of time in the future.
How do investors keep track of the value of the UITF investment?
After subscribing into the UITFs, the client will receive a Confirmation of Participation or COP which states the total number of units that the investor was able to buy, and at what NAVPU those units were bought at. The investor can find out the value of his current investments by multiplying the total number of units he/she holds by the latest available NAVPU, which is published daily on the Security Bank website at https://www.securitybank.com/market-information/navpu/
When does the investor get the proceeds of the UITF investment?
Payment to the investor will depend on the settlement period prescribed by the trustee. This may vary depending on the nature and settlement convention of the investments of the UITF product.
In what instruments can a trustee invest the fund?
The character and kind of investments which may be made by the trustee depend on the investment parameters set forth in the UITF Declaration of Trust or Plan Rules. BSP Regulations, however, prescribe that UITF fund investments shall be limited to bank deposits, securities issued by or guaranteed by the Philippine government or the BSP, tradable securities issued by the government of a foreign country, any political subdivision of a foreign country or any supranational entity, exchange listed securities, marketable instruments that are traded in an organized exchange, loans traded in an organized market, such other tradable investments as the BSP may allow.

Disclaimer

DISCLOSURES

•THE UNIT INVESTMENT TRUST FUND (UITF) IS A TRUST PRODUCT AND NOT A DEPOSIT ACCOUNT AND IS NOT INSURED OR GOVERNED BY THE PHILIPPINE DEPOSIT INSURANCE CORPORATION (PDIC).

•THE UITF IS NOT AN OBLIGATION OF, NOR GUARANTEED, NOR INSURED BY THE TRUST ENTITY OR ITS AFFILIATES OR SUBSIDIARIES.

•DUE TO THE NATURE OF THE INVESTMENTS OF A UITF, THE RETURNS/YIELDS CANNOT BE GUARANTEED. HISTORICAL PERFORMANCE, WHEN PRESENTED, IS PURELY FOR REFERENCE PURPOSES AND IS NOT A GUARANTEE OF SIMILAR FUTURE PERFORMANCE.

•ANY LOSSES AND INCOME ARISING FROM MARKET FLUCTUATIONS AND PRICE VOLATILITY OF THE SECURITIES HELD BY THE UITF, EVEN IF INVESTED IN GOVERNMENT SECURITIES ARE FOR THE ACCOUNT OF THE CLIENT. AS SUCH, THE UNITS OF PARTICIPATION OF THE CLIENT INTHE UITF, WHEN REDEEMED, MAY BE WORTH MORE OR LESS THAN HIS/HER INITIAL INVESTMENT/CONTRIBUTION.

•THE TRUSTEE IS NOT LIABLE FOR LOSSES UNLESS UPON WILLFUL DEFAULT, BAD FAITH OR GROSS NEGLIGENCE.

•THE INVESTOR MUST READ THE COMPLETE DETAILS OF THE FUND IN THE UITF’S PLAN, MAKE HIS/HER OWN RISK ASSESSMENT, AND WHEN NECESSARY, SEEK AN INDEPENDENT/PROFESSIONAL OPINION BEFORE MAKING AN INVESTMENT.