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Foreign Portfolio Investments Post Net Inflow in July 2010

08.12.2010

July 2010 Transactions

Transactions in BSP-registered foreign portfolio investments posted a net inflow of US$14 million for July, reflecting a substantial improvement from the US$86 million net outflow recorded in June 2010, although a 78 percent decline was noted compared to the US$66 million net inflow in the same month in 2009. This improvement during the month resulted from positive developments on the domestic front including lower inflation rate, a stable peso and a more positive outlook with the assumption of the new administration.

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.

January to July 2010 Transactions

For the first seven months of the year, transactions yielded a net inflow of US$701 million, 164 percent higher than the US$265 million net inflow for the comparable period in 2009. Registered investments aggregating US$5.0 billion were up by 37 percent from last year’s US$3.6 billion. Investments in PSE-listed shares of US$3.4 billion exceeded last year’s US$2.8 billion level by 24 percent, with major beneficiaries consisting of banks (22 percent); property companies (20 percent); telecommunication companies (19 percent); holding firms (17 percent); and utility firms (12 percent).

 The United States, the United Kingdom, Singapore, Malaysia and Luxembourg comprised the top five (5) investor countries, contributing 84 percent to total registered investments. 

Year-to-date outflows, which were mostly withdrawals from interim peso deposits (IPDs), reached US$4.3 billion compared to US$3.4 billion in 2009.   Sales proceeds of BSP-registered investments, including earnings thereon, may be placed in IPDs pending subsequent reinvestment or repatriation/remittance.

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