Essentially, I think the market is cheap and fundamentally sound. The foreign flows are not going our way, but judging from the outflows from foreign funds that we have seen from June when the tapering jitters started, foreign selling should be drying up soon. This is because most of what they’ve bought over the past two years have been sold already.
Please be informed of FAMI’s schedule this holiday season:
December 24, 2013 – No office
December 25, 2013 – No office
December 26 – 27 – Regular office hours
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The NAVPS of First Metro Save and Learn Equity Fund (SALEF) and First Metro Save and Learn Balanced Fund (SALBF) for December 13, 2013 have inadvertently been switched places in today’s issue of Business World.
We sincerely apologize for this error and for any inconvenience this may cause. The error has been corrected on www.pifa.com.ph.
Thank you for your understanding.
Today was an irony in the stock market. TEL which had been in consistent decline over the past few weeks went up in the midst of all other index stocks dropping. And even with the market down 2.04% (122.54 points), the market was in a net foreign buying position of roughly Php585.5 million (ex-block sales). Normally, you’d expect otherwise because TEL is a traditional bellwether stock which usually sets market direction. Similarly, when the market experiences net foreign buying, the index normally rises; yet it went the other way today.
I had been saying for a few days now that one should start having a look at entry prices because we, the local investors, should be the ones buying ahead of foreign fund managers. That way, we will own the market at levels cheaper than the foreigners. In such a position, we will not get buffeted so much by their fickleness.
A concerned party has escalated this issue to us, wherein this fake “Gus Cosio” contacted this person and tried soliciting funds for certain agencies and institutions claiming that this is a project of certain government persons and “for a good cause.”
The deposits are to be coursed through a very famous money transfer service facility, after which a reimbursement will be made after the deposit is made.
Neither Gus Cosio nor FAMI is connected to any of this, and we would like to inform the public of this. Please be careful and do not entertain any offers made by these people.
If unsure, please feel free to get in touch with us through our head office at 891-2860 to 65. Thanks
FREE Mutual Fund Forum
Basics of Mutual Fund Investing
Friday, December 13, 2013
6pm to 7pm
First Metro Investors Center
Ground Floor Metrobank Plaza Building Fuente Osmena.
Reserve seats by calling/texting MR. JAMES VASQUEZ at 0999-8853365 or calling 032-5205697
Asian Stock Index Posts Biggest Weekly Drop Since August. Most Asian stocks fell, with the regional benchmark index posting its biggest weekly drop since August, as improving U.S. economic data fuelled speculation the Federal Reserve may bring forward stimulus cuts. The MSCI Asia Pacific Index added 0.1 percent to 139.70 as of 6:53 p.m. in Hong Kong, with about five shares falling for every four that that rose on the gauge. The measure fell 1.7 percent last week, the most since the period ended Aug. 23. The U.S. posted the fastest annualized growth last quarter since the start of 2012 and jobless claims unexpectedly fell as the focus turns to today’s November non-farm payrolls, projected to rise by 185,000 workers.