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Foreign Portfolio Investments Sustain Net Inflow in November 2010

12.16.2010

November 2010 Transactions

Transactions in foreign portfolio investments for the month of  November 2010 yielded a net inflow of US$1.7 billion, up by 65.3 percent from the US$1.0 billion net inflow in October 2010 and 24 times the US$73 million level a year ago.

Registration of foreign investments with the BSP is voluntary. It entitles the non-resident investor or his representative to buy foreign exchange from authorized agent banks and/or their subsidiary/affiliate foreign exchange corporations for repatriation of capital and remittance of related earnings.

January  to November 2010 Transactions

Transactions for the 11-month period posted a net inflow of  US$4.2 billion, reflecting an increase of more than nine (9) times over the US$431 million net inflow during the comparable period in 2009.

Registered investments aggregated US$11.6 billion or almost double last year’s figure of US$5.9 billion.  Investments in PSE-listed shares reached US$7.7 billion, up from US$4.5 billion in 2009.  Major beneficiaries were banks (US$1.5 billion); property companies (US$1.38 billion); holding firms (US$1.36 billion); telecommunication companies (US$1.2 billion); and utility firms (US$942 million).

The US$3.9 billion balance of registered investments were in:

  1. Peso GS – US$3.4 billion compared to US$1.3 billion  in 2009;
  2. Peso time deposits – US$485 million vis-à-vis  US$1 million in 2009; and (c) money market instruments – US$2 million against US$49 million last year.

The United States, Singapore, the United Kingdom, Luxembourg and Hong Kong were the top five (5) investor countries, contributing 81.6 percent to total registered investments.

Outflows amounted to US$7.4 billion, and were mostly withdrawals from interim peso deposits where funds are parked pending repatriation or re-investment (US$6.9 billion or 93.4 percent of total).

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