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Foreign Portfolio Investments Yield Net Inflow in January 2011

02.17.2011

Transactions during January 2011 pertaining to foreign portfolio investments (FPI) registered with the BSP resulted in a net inflow of US$193 million, 54.9 percent lower than the US$428 million  net inflow for December 2010, but 13.5 percent higher than the US$170 million recorded a year ago.  The decline seen in January 2011 may be attributed to profit taking and to the tensions in Egypt starting in late January which triggered selloffs.  
 
Investments in Philippine Stock Exchange (PSE)-listed shares for January 2011 amounted to US$616 million (or 40.1 percent of total BSP-registered for the month), up by 41.3 percent from the US$436 million total of January 2010. 

The US$921 million balance (or 59.9 percent of total) of registered investments were in Peso GS (US$870 million against US$50 million in January 2010) and Peso time deposits (US$51 million compared to US$90 million last year) with minimum maturity of 90 days.  The United States, Singapore, Luxembourg, the United Kingdom and Hong Kong, were the top five (5) investor countries, collectively contributing 90.0 percent to total registered investments.

Outflows for BSP-registered foreign portfolio investment  increased  to US$1.3 billion from US$406 million a year ago and US$973 million in December 2010.  The bulk of these were withdrawals from interim peso deposits, representing divestment proceeds from registered investments that were parked in said accounts pending reinvestment or repatriation. 

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 dividends/profits/earnings that accrue on the registered investment.

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