Local stocks attract foreign investors

THE Philippines, whose stock market has performed well in the last four years, is attracting a new batch of foreign institutional investors keen on including local equities in their portfolios for the first time, according to First Metro Securities Brokerage Corp.

FirstMetroSec recently brought Philippine-listed companies to this year’s Singapore leg of the Pulse of Asia Conference organized by DBSVickers Pte. Ltd. (DBSVickers) as part of the new research collaboration between the two institutions.

“The response from the regional fund managers, the Philippine companies we brought to the conference and our hosts was overwhelmingly positive. Roughly 80 percent of these institutional investors have not previously met the Philippine companies we brought and expressed strong interest in our market,” FirstMetroSec president Gonzalo Ordoñez said in a statement.

The three Philippine companies brought by FirstMetroSec to the investor briefings were property developer Robinsons Land Corp. (RLC), infrastructure holding firm Metro Pacific Investment Corp. (MPI) and retailer Puregold Price Club Inc. (PGOLD).

/inquirer.net