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Foreign Portfolio Investment Transactions Yield Net Outflows in February

03.15.2012

Registered investments for the month of February increased to US$1.5 billion from last month’s US$1.2 billion level due to news of robust corporate earnings, hopes on the approval of Greece’s bailout package and optimistic economic data of the United States. However, outflows surged from US$627 million to US$1.8 billion. There were heavy sell-offs in PSE-listed securities, primarily due to profit taking. Large outflows from Peso GS were also noted due to a fall in government bond yields, which was also the case for other countries such as Vietnam, Hong Kong, China, and Singapore.

On a net basis, transactions yielded net outflows of US$305 million compared to net inflows of US$586 million last month and US$534 million a year ago.  Transactions for the first two months of the year, however, continued to yield net inflows of US$342 million, albeit 54.5 percent lower than what was recorded in 2011.

The main beneficiaries of investments in PSE-listed securities registered in February were: holding firms (US$299 million); banks (US$246 million); property firms (US$207 million); telecommunication companies (US$125 million); and utility companies (US$67 million).

The United Kingdom, the United States, Singapore, Hong Kong and Luxembourg and were the top five (5) investor countries for the month, while the United States continued to be the main beneficiary of outflows from these investments.

Registration of inward foreign investments with the Bangko Sentral ng Pilipinas (BSP) is voluntary.  It entitles the 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 dividends/profits/earnings that accrue on the registered investment.

BSP-registered investments pertain only to investments funded by fresh inward remittances of foreign exchange.

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