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Foreign portfolio investments post net outflows in April

05.15.2015

Transactions in foreign portfolio investments for the month of April resulted in overall net outflows of US$31 million, slightly higher than the US$22 million net outflows recorded in March. This may be attributed to profit taking, as the first two (2) months of the year yielded a total net inflow of US$1.8 billion. Net inflows of US$325 million were noted a year ago.

Registered foreign portfolio investments during the month declined to US$1.9 billion (or by 7.1 percent) from US$2.1 billion last month. However, a slight improvement (3.3 percent) was noted year-on-year. Total outflows for the month (US$2.0 billion) were also 6.6 percent lower compared to the figure for March 2015 (US$2.1 billion), but 27.0 percent higher than the figure for the same period last year (US$1.5 billion).

About 74.3 percent of investments registered during the month were in PSE-listed securities (mainly pertaining to holding firms; banks; property companies; food, beverage and tobacco companies; and telecommunication firms); the rest of the investments were in Peso GS (24.2 percent) and other peso  debt instruments (OPDI – 1.5 percent). Transactions in Peso GS and OPDIs yielded net inflows of US$112 million and U$30 million, respectively, while those for transactions in PSE-listed securities resulted in net outflows of US$172 million.

The United Kingdom, the United States, Singapore, Hong Kong, and Luxembourg were the top five (5) investor countries for the month, with combined share to total of 80.0 percent. The United States continued to be the main destination of outflows, receiving 84.6 percent of total.

Registration of inward foreign investments with the Bangko Sentral ng Pilipinas (BSP) is voluntary under the liberalized rules on foreign exchange transactions.  The issuance of a BSP registration document 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 earnings that accrue on the registered investment.  Without such registration, the foreign investor can still repatriate capital and remit earnings on his investment but the foreign exchange will have to be sourced outside the banking system.

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