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Foreign Portfolio Investments Post Net Inflow in May 2010

06.25.2010

May 2010 Transactions
 
Transactions in Bangko Sentral ng Pilipinas (BSP) registered foreign portfolio investments posted a net inflow of US$178 million for the month of May, even as this represented a 16 percent decline from the previous month’s US$210 million. Net inflows were boosted by the Dow Jones recovery, the positive Philippine economic growth for the first quarter and the general success of the first automated elections in the Philippines amidst the continuing concerns on the European debt crisis and the tension between North and South Korea.
 
Registration of inward foreign investments with the BSP is voluntary. It entitles the investor or his representative to buy foreign exchange from authorized agent banks or their subsidiary/affiliate foreign exchange corporations for repatriation of capital and remittance of related earnings.

First Five Month’s Transactions

For the first five (5) months of the year, transactions yielded a net inflow of US$772 million, 180 percent higher than the US$276 million net inflow for the comparable period in 2009.  Registered investments increased by 33 percent year on year to US$3,547 million. Investments in PSE-listed shares of US$2,508 million (71 percent), which comprised the bulk of registered investments, were 29 percent higher than figures in 2009. The balance of registered  investments were in peso government securities or peso GS (US$654 million) and peso time deposits (US$385 million). 

The United States, the United Kingdom, Singapore, Malaysia, and Hong Kong were the top five (5) investor countries accounting for 83 percent of total registered investments. 

Year-to-date outflows reached an equivalent of US$2.8 billion and were mostly withdrawals from interim peso deposits (IPDs).  Sales proceeds for BSP-registered investments, including earnings thereon are placed in IPDs pending subsequent reinvestment or repatriation/remittance.

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