ASEAN BIZ BRIEF: MANILA- Foreign fund managers pulled out $660m in April – Gross outflows reached $1.3 billion in April
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MONEY
Foreign fund managers pulled out $660m in April
Foreign fund managers pulled out more than $600 million from the Philippine equity and bond markets in April amid the uncertainty caused by the coronavirus pandemic.
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Data from the Bangko Sentral ng Pilipinas showed that registered foreign portfolio investments yielded net outflows of $660 million in April, following net withdrawals of $961 million in March.
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Gross outflows reached $1.3 billion in April while gross inflows amounted to only $627 million during the month, according to the BSP.
by Julito G. Rada
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