Jul

Top Philippine Fund Loses Appetite for Manila Stocks After Rout

GSIS “has no appetite” to invest, President Aranas says
Philippine benchmark has lost more than $53 billion in value

The Philippines’ largest pension fund is holding off on buying local shares after the selloff in emerging-market assets pushed the nation’s equities into a bear market last month.

The Government Service Insurance System “has no appetite” to invest, President Jesus Clint Aranas said in a forum in Manila. “And I think that is the common consensus among equity investors.”…

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Top Philippine Fund Loses Appetite for Manila Stocks After Rout

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