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Foreign Portfolio Investments Yield Net Inflows in November

12.14.2012

Registered investments for the month of November reached US$2.0 billion, up by 30.5 percent and 55.5 percent from the figures for October 2012 and November 2011, respectively due to positive investor reaction to the following:

a) lower than expected inflation of 3.1 percent for October; b) robust third quarter corporate earnings; c) successful issuance by the National Government of 10-year global peso notes equivalent to US$750 million; and d) two-year high growth in GDP of 7.1 percent in the third quarter. 

The bulk of registered investments were in PSE-listed securities and Peso GS (58.6 percent and 41.4 percent of total, respectively).

The main beneficiaries of investments in PSE-listed shares were: banks (US$346 million), holding firms (US$313 million), property companies (US$184 million), food, beverage and tobacco manufacturers (US$87 million) and utility firms (US$82 million).

Outflows, on the other hand, declined to US$998 million or by 33.4 percent from US$1.5 billion in October, yielding net inflows of US$1.0 billion (Peso GS – US$794 million; and PSE-listed securities – US$215 million).  The net inflows in November substantially surpassed those recorded last month (US$40 million) and a year ago (US$490 million). 

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

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