Sep
03
Top Philippine Fund Manager Doubles Cash Levels as Rally to End
By-
Foreigners have `left the Philippines for this year’
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Overseas funds have been net sellers for five months
The top-performing fund manager in the Philippines has almost doubled cash holdings, betting that the nation’s stocks will extend its longest monthly losing streak since 2002 as China’s economic slowdown roils emerging markets and the U.S. gets closer to raising borrowing costs.
The benchmark Philippine Stock Exchange Index could retest a 14-month low as a two-week rebound loses steam, said Smith Chua, who manages the four best-performing Philippine equity funds over the past year as chief investment officer at Bank of the Philippine Islands…
Top Philippine Fund Manager Doubles Cash Levels as Rally to End
