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Foreign portfolio investments post net outflows in September 2015

10.15.2015

Registered foreign portfolio investments for September 2015 amounted to US$1.4 billion, reflecting a 22.6 percent growth from the US$1.1 billion posted last month. However, outflows likewise rose to US$1.7 billion (or by US$33 million) from the previous month’s level due to profit taking and continued concerns on the slowdown of the Chinese economy and its impact on the global market.  Transactions for the month, thus, resulted in an overall net outflow of US$324 million. This figure, however, is an improvement from the US$543 million outflows recorded in August 2015.

About 81.0 percent of investments registered in September were in PSE-listed securities (mainly pertaining to holding firms; property companies; banks; food, beverage and tobacco firms; and telecommunication companies) while the 19.0 percent balance were in Peso government securities (GS). Transactions in Peso GS yielded net inflows of US$133 million, while net outflows were recorded for PSE-listed securities (US$445 million) and other peso denominated debt instruments (US$11 million).

The United Kingdom, the United States, Singapore, Belgium, and Hong Kong were the top five (5) investor countries for the month, with combined share to total of 81.5 percent. The United States, on the other hand, continued to be the main destination of outflows, receiving 84.1 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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