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Foreign Portfolio Investments in May grow year-on year

06.14.2013

Registered investments for the month of May amounted to US$2.0 billion, rising by 31.6 percent from last year’s US$1.5 billion level, due to higher-than-expected first quarter corporate earnings and optimism over the peaceful and successful conduct of the midterm national and local elections. The figure, however, was 42.8 percent lower than the US$3.5 billion recorded for April which included subscriptions under the LT (Lucio Tan) Group Inc.’s re - “IPO” transactions.

Investments during the month were in PSE-listed securities (US$1.8 billion or 92.0 percent), Peso GS (US$150 million or 7.5 percent) and Peso time deposits (US$10 million or 0.5 percent). The main beneficiaries of investments in PSE-listed securities were: holding firms (US$664 million), banks (US$297 million), property firms (US$205 million), transportation services companies (US$136 million), and food, beverage and tobacco firms (US$135 million).

Outflows rose to US$2.6 billion from the US$2.4 billion figure last month due to announcement of a possible scaling down of quantitative easing in the United States.  This resulted in net outflows of US$641 million, a reversal from the net inflows of US$1.1 billion in April and US$106 million a year ago. Transactions in PSE-listed securities and Peso GS resulted in outflows of US$326 million and
US$325 million, respectively, while peso time deposits netted inflows of US$10 million.

The United Kingdom, United States, Luxembourg, Singapore and Hong Kong were the top five (5) investor countries for the month with combined share of 85.5 percent.  The United States continued to be the main beneficiary of outflows from investments receiving US$2.0 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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