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Registered Foreign Portfolio Investments for the First Eleven Months of 2009 Yield US$431 Million Net Inflow

12.10.2009

Transactions in BSP-registered foreign portfolio investments for January to November 2009 yielded a net inflow of US$431 million, in sharp contrast to the US$1.7 billion net outflow recorded for the comparable period in 2008.

Registered foreign portfolio investments for the period reached US$5.9 billion. The United States, the United Kingdom, Singapore, Japan, and Luxembourg were the top five investor countries, which collectively accounted for 80 percent of registered investments.

Transactions for the month of November similarly yielded a net inflow of US$73 million, following two months of net inflows. Foreign investors continued to bet on the Philippine market on account of the sustained growth in overseas Filipino remittances, robust reserves, healthy banking system* , better-than-expected corporate earnings, and the run up in the price of gold.
 
Foreign portfolio investments registered in November reached US$431 million, of which 87 percent were invested in PSE-listed shares, while the balance went to peso-denominated government securities. The United Kingdom, the United States and Hong Kong were the top investor countries for the month. Total outflows of US$358 million were largely withdrawals from interim peso deposits and reflected a drop of 43 percent from October.

Registration of inward foreign investments with the Bangko Sentral, which is voluntary, entitles the foreign investor to buy foreign exchange from authorized agent banks or their subsidiary/affiliate foreign exchange corporations for repatriation of capital and remittance of dividends/profits/earnings that accrue on the investment.

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*Combined non-performing loans (NPL) ratio of universal and commercial banks eased to 3.25 percent in September, marking the lowest NPL ratio since peaking in October 2001.

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