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Upcoming FREE Davao Seminar – July 28, 2016

2016-01-06 - Seminar - Davao

Upcoming Davao Seminar – July 28, 2016

Date: July 28, 2016

Title: Learning Money Management Basics and Mutual Fund Presentation

Venue: First Metro Investors Center Davao. G/F Hotel UNO Bldg., C.M Recto St., Davao City

Contact Details: Landline 082-2939354; Mobile Jane (0998-9649313) New Number

Time: 5:30 PM to 7:00 PM

Seats: Maximum Seats 25

Attendance is free but seats are limited! Book your seat today at Eventbrite - Learning Money Management Basics and Mutual Fund Presentation

Upcoming FREE Cebu Seminar – July 28, 2016

2016-01-06 - Seminar - Cebu

Join our FREE Investment Literacy Seminar and learn what mutual funds can do for you. Bring along your friends, colleagues & relatives. Come and be financially knowledgeable! Attendance is F R E E so book your seats now!

Date:    July 28, 2016

Title:      Why Invest in Mutual Funds?

Venue:    First Metro Investors Center Cebu; G/F Metrobank Plaza Bldg., Fuente Osmena Blvd. Cebu City

Contact Details:     Landline 032-520-5696;

Time:    5:30 PM to 7:00 PM

Attendance is free but seats are limited!  Book your seat today by clicking here: Eventbrite - WHY INVEST IN MUTUAL FUNDS

 

Fund Fact Sheets – July 22, 2016

Fund Fact Sheets for July 22, 2016

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Fund Fact Sheets – July 15, 2016

Fund Fact Sheets for July 15, 2016

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Weekly Equities Summary and Outlook: July 4-8, 2016

Weekly Summary 07 04 2016 - 07 08 2016-1

Outlook: We expect the market to test the 7,900 levels this week after the US posted a better-than-expected jobs report.

The PSEi fell 0.75% last week to 7,771.52 as investors locked in their gains after the PSEi rose 7,846. Friday’s US job report showed an added 287,000 jobs in June, exceeding economists’ expectations by more than 100,000 jobs. This will fuel the optimism in the market for the week which may wane by end of the week as investors take profit.

Year-to-date, the index gained 11.79%. Foreigners were net buyers during the week amounting to Php2.92bn ($62mn); yearto-date foreign inflow was at Php35.34bn($751mn). MEG, MBT, SMPH, TEL and BDO were the most bought stocks for an aggregate amount of Php1.19bn.

Read the full article here: HERE

 

Weekly Fixed Income Summary: July 4-8, 2016

Weekly Summary 0704-0708-1

Bonds Outlook. We expect bond yields to trade sideways as EM’s remain a strong option for foreign investors to put their money in amid global concerns over Brexit. The Philippines remains attractive because of its minimal exposure
to the United Kingdom and/or the European Union coupled with the new administration’s bullish stance on government expenditures. Furthermore, the June core inflation rate rose to 1.9% from 1.6%, closer to the BSP’s 2016 inflation target rate of 2%-4%. This is in line with the central bank’s assessment that inflation will move towards the target over the policy horizon.
We expect the BSP to hold the policy rates steady for the rest of the year. BSP Governor Armando Tetangco, Jr., on the heels of July 7’s auction, said that the TDF auctions have now reached sustainable levels compared to the first few auctions under the new IRC system that were way oversubscribed. The bid-to-cover ratio of the 7-day tenor decreased to 6.025% from 6.138% in June 29’s auction, while the 28-day’s ratio declined to 4.056% from 4.598%. Short-term deposit auctions’ volumes for the third quarter increased to Php50bn from June’s Php30bn, also consistent with the BSP’s intent to move interest rates closer to the policy rate.

Read the full article here: HERE

Fund Fact Sheets – July 8, 2016

Fund Fact Sheets for July 8, 2016

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FREE Davao Seminar – Learning Money Management Basics & Mutual Funds

2016-01-06 - Seminar - Davao

Date:   July 14, 2016

What:   Learning Money Management Basics and Mutual Fund Presentation

Venue:  First Metro Investors Center Davao. G/F Hotel UNO Bldg., C.M Recto St., Davao City

Contact Details:   Landline 082-2939354; Mobile Jane (0939-8054312)

Time:   5:30 PM to 7:00 PM

Seats:    Maximum Seats 25

Attendance is FREE but seats are limited! Book today via: Eventbrite - FREE Davao Seminar - Learning Money Management Basics & Mutual Funds

 

Upcoming FREE Makati Seminar – July 14 & all following Thursdays of July and August!

2016-01-06 - Seminar - Makati

 

Makati Investment Literacy Program – July and August

All Thursdays of July and August starting July 14, 2016

Time: 2:00PM to 4:00PM
Venue: First Metro Asset Management Makati Head Office
Seats available per seminar: 20

For questions and concerns, please call our office at 02-891-2860 to 65 and look for Enzo.

Attendance is free but seats are limited! Book your seat today via Eventbrite - FREE Makati Seminar - July 14 & all following Thursdays of July and August!

Weekly Fixed Income Summary: July 1, 2016

Weekly Summary 0627-0701_Page_1

Brexit Boosts EM’s After Initial Shock

Bonds Outlook. We expect bond yields to remain depressed as bonds rally this week following post-Brexit investors’ diaspora. As it turns out, the Philippines proved to be resilient from the shockwaves caused by U.K.’s vote to exit the European Union as the Philippines’ exposure to the U.K. or the E.U. was limited, making it quite attractive to investors seeking safe haven. This was reflected in last Tuesday’s (June 28) Php25bn auction of 4-yr bonds with 3.375% interest by the Bureau of Treasury, which was more than three times oversubscribed at Php89bn. This is a sign of investors’ confidence in the country’s long-term prospects.

The past week also saw the inauguration of Pres. Rodrigo Duterte, further bolstering investor confidence with his promise of increased government spending, relaxation of foreign ownership of corporations, and progressive tax reform among others.

The BSP reported a 13.5% year-on-year (YoY) growth in domestic liquidity (M3) for May from April’s 12.7%, driven by sustained demand for credit. Outstanding loans of commercial banks, net of reverse repurchase (RRP), also grew 17.7% YoY in May. The BSP is set to release the inflation rate/CPI tomorrow,
July 5, which is expected to be higher but would be a non-factor for interest rates. Lastly, government would be borrowing Php135bn from the domestic market for the third quarter, the same amount as the last quarter. Hence, the fact that borrowing is still the same despite expected higher inflation
and strong liquidity will help sustain the rally in bonds.

Read the full article here:HERE

Weekly Equities Summary – July 1, 2016

Weekly Summary 06 27 2016 - 07 01 2016_Page_1

Duterte Euphoria, Calm Post-Brexit send PSEi to all-time high

Current Weekly YTD
PSE      7,830.35 2.63% 12.63%
FMETF         128.80 2.71% 13.48%
All Shares      4,738.03 4.30% 18.73%
Financials      1,763.81 2.02% 13.74%
Industrial    11,926.64 1.49% 8.12%
Holdings      1,655.75 3.42% 8.20%
Property      3,443.80 3.78% 18.12%
Services      7,647.91 1.68% 15.86%
Mining & Oil    11,289.54 4.08% 8.27%

 

 

Outlook:  We expect the market to correct after reaching an all-time high for the year. The market may lose steam this week as the “Duterte euphoria” ebbs after his inauguration.

The PSEi rose 2.63% last week  to 7,830.35 (on close) as investors picked up bargains post-Brexit sell-off during the other week. The inauguration of President Duterte also became a catalyst for the market to reach 7,830.35 on Friday.

Year-to-date, the index gained 12.63%. Foreigners were net buyers during the week amounting to Php5.89bn ($125mn); year-to-date foreign inflow was at Php32.11bn ($683mn). SMPH, MBT, URC, SM and BDO were the most bought stocks for an aggregate amount of Php2.41bn.

Macro News: The Indonesian government halted permit issuance to all “flagged”vessels sailing to the Philippines due to  maritime piracy and kidnapping in the Sulu Sea. The Philippines heavily relies on Indonesia for its coal requirements (68% of the 22mn metric tons coal demand by the Philippines came from Indonesia). This was positive for Semirara Mining and Power Corp. which is the country’s biggest coal miner, supplying 80% of the country’s 22m coal consumption.

Meanwhile, the Bureau of Customs collected Php37.5bn in June, up 19% year-on-year based on preliminary figures. In the first three months, collections fell 2% to Php90.5bn on weaker commodity prices.  BOC is tasked to collect Php498.7bn, a 35.9% increase year-on-year.

Imports rose 29% in April to $6.53bn on the back of growth  in industrial machinery (+74%), electronics (70%), and telecom equipment (+73%). For the first four months, imports surged 13.5% to $25.1bn. Trade balace was at a deficit of  $2.28bn in April. For the first four months, trade balance was at $7.8bn deficit.

Loan growth (net of RRPs) of commercial banks rose 17.7% in May from 15.6% in April. Loans for production increased 17.9% while consumer loans jumped 16.8%. M3 expanded by 13.5% year-on-year to Php8.66tn.

Corporate News: GTCAP increased its stake in Profriends to 51% from 22.7%. The transaction was valued at Php8.76bn, similar to the initial stake that was bought last year.

JG Summit (JGS) acquired a  22% stake in Global Business Power from Orix at Php8.6bn. The new ownership structure is now as follows: Beacon/Metro Pacific (56%), Meralco (22%) and JGS (22%).

President Duterte’s order during his first cabinet meeting  was the cancellation of online gambling licenses, citing its negative effects to the poor. This led to the slump in Philweb (WEB) and Leisure and Resorts World Corp (LR) shares.

8990 Holdings will launch a high-rise residential tower along EDSA corner Banahaw Street. It will have 5,207 units and has a sales value of Php7.2bn. Megawide will construct the tower with a contract value of Php3.6bn.

 

Read the full PDF here: HERE

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