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2009 Registered Foreign Portfolio Investments Yield US$388 Million Net Inflow

01.14.2010

Transactions in BSP-registered foreign portfolio investments for the year 2009 yielded a net inflow of US$388 million, reflecting a major turnaround from the US$1.8 billion net outflow recorded in 2008. Amid the global recession, investor interest in the country was sustained by stable prices and low interest rates, the continuing growth in overseas Filipino remittances, robust reserves, a healthy banking system, and sound macroeconomic fundamentals.

Registered foreign portfolio investments for the year reached US$6.3 billion. Investments in PSE-listed shares accounted for 76 percent of total, 21 percent were invested in peso-denominated government securities, and the balance were placements in peso time deposits with minimum maturity of 90 days and money market instruments (3 percent). The United States, the United Kingdom, Singapore, Japan, and Hong Kong were the top five investor countries, which collectively accounted for 80 percent of registered investments.

Gross foreign portfolio investment outflows for the year amounted to US$6.0 billion, of which about 89 percent went to the United States, followed by Singapore and the United Kingdom (3 percent each).

For the month of December, however, transactions yielded a net outflow of US$43 million, although investments registered during the month reached US$462 million, 7 percent higher from the previous month’s figure.
 
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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