Foreign portfolio investments or hot money posted net inflows of $887 million in 2022, a reversal of the $574-million net outflows in 2021, as fund managers remained confident in the country’s macroeconomic fundamentals despite uncertainties on the external front, latest data from the Bangko Sentral ng Pilipinas show.
The 2022 net inflows, however, missed the $3.5-billion projection of the BSP for the year. Gross inflows reached $12.343 billion, which offset the $11.457-billion gross outflows.
Data showed that in December, hot money recorded net inflows of $93 million, lower than $489 million in November 2022, but a turnaround from the $4.38-million net outflows a year ago.
Meanwhile, the $1.09 billion registered investments in December reflected an increase of 3.6 percent or by $38 million from $1.05 billion in November.
Majority of investments (74.0 percent) in December went to Philippine Stock Exchange-listed securities, while the balance went to peso government securities (26.0 percent) and other instruments (less than 1.0 percent).