As of the BSP's latest figures, more of these so-called hot money investments left the country than entered it in the first seven months of 2020. | daxINQ
Meanwhile, year-to-date transactions for all investments—Philippine Stock Exchange -listed securities, peso-denominated government securities and other investments—resulted in net outflows.
For July 2020 alone, BSP-registered foreign portfolio investments yielded net outflows of $453 million resulting from the $1.2-billion gross outflows and $719-million gross inflows for the month.The $719 million registered investments for the month reflected a 29.5-percent decline compared to the $1 billion recorded for June 2020.
About 96.5 percent of investments registered were in PSE-listed securities, pertaining mainly to utilities companies, holding firms, property companies, banks and food, beverage and tobacco companies.Singapore, the United Kingdom, the United States, the Bahamas and Hong Kong were the top five sources of foreign portfolio investments for the month, with combined share to total of 84.6 percent.The central bank noted that the gross outflows in July of $1.
These hot money investments from foreign fund managers usually go to PSE-listed stocks; Philippine government and corporate bonds, as well as peso time deposits with banks with minimum tenor of 90 days. They are also invested in other peso debt instruments, unit investment trust funds, and other portfolio investments such as exchange traded funds and Philippine depositary receipts.For more information on COVID-19, call the DOH Hotline: 86517800 local 1149/1150.
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