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Foreign Portfolio Investments Yield Net Inflows in April

05.16.2013

Registered investments for the month of April surged to US$3.5 billion, 50.3 percent higher than the US$2.3 billion figure for March due to the following: (i) release of positive reports on first-quarter corporate earnings; (ii) large subscription (US$970 million) in LT (Lucio Tan) Group Inc.’s shares; (iii) BSP’s decision to cut the SDA rates by another 50 basis points (to 2 percent) across all tenors; and (iv) Standard & Poor’s increased growth forecast for the Philippines of 6.5 percent this year and 6.3 percent in 2014.  Year-on-year, registered investments more than doubled to US$3.5 billion (or by 137.4 percent) from the US$1.5 billion level recorded in 2012.

Investments in April were in PSE-listed securities (US$3.0 billion or 85.9 percent), Peso GS (US$346 million or 9.9 percent) and Peso time deposits (US$149 million or 4.3 percent). The main beneficiaries of investments in PSE-listed securities were: food, beverage and tobacco companies (US$1.1 billion), holding firms (US$918 million), property companies (US$260 million), and banks (US$216 million).

Outflows were down to US$2.4 billion from the US$2.7 billion posted in the previous month. Thus, transactions yielded net inflows of US$1.1 billion in contrast to the US$395 million net outflows  in March; the figure was also more than thrice the US$333 million net inflows a year ago. Transactions in PSE-listed securities, peso time deposits, and Peso GS netted inflows of US$979 million, US$139 million, and US$13 million, respectively.

The United States, the United Kingdom, Singapore, Hong Kong, and Luxembourg (with combined share of 87.8 percent) were the top five (5) investor countries for the month.  The United States continued to be the main beneficiary of outflows from investments receiving US$1.7 billion.
 
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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