The main-share Philippine Stock Exchange index gained another 33.11 points or 0.93 percent to close at 3,593.60. This was the highest since the 3,617.29 recorded on Jan. 2, 2008.
For the whole upbeat week, the index added 124.08 points or 3.6 percent. The PSEi has climbed 17.7 percent so far this year.
Dealers said investors ignored the weak data abroad that caused Wall Street to decline overnight. Instead, the local market focused on the rosy domestic economic fundamentals and corporate earnings. Any market dip was seen as an opportunity to load up stocks.
The market is likewise still benefiting from a post-election euphoria and the ample liquidity seeking better returns amid an environment of record-low interest rates.
“It’s really hard to stop a train full of money. We were expecting a correction for the week but given the corporate results, which showed most corporations performing better than expected, investors were inspired by such good numbers,” said Astro Del Castillo, managing director at local fund management firm First Grade Holdings Inc.
Published in Philippine Daily Inquirer August 21.
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Above is a mugshot of the Daily Report of Philam Asset Management, Inc. published in their website to help investors monitor their investments in the different mutual funds being mange by the said company.
When I bought some shares from Philam Strategic Growth Fund about six months ago, it cost me about P300.00 NAVPS but now if you will look closely, the Net Asset Value Per Share as of August 20, 2010 is P410.84 NAVPS or a profit of about P110.84 pesos for the past six months per P300.00 share. I bought about P21,000.00 worth of shares. So as per my computation I already earned P7,758.80 in six months.
How about you? Do you have some spare money to invest and let it grow without you doing anything?
Do not allow your money to rot in a savings bank earning a mere pittance of interest of about 2 per cent a year. Why not try what the rich people have been doing. For a minimum amount of P5,000.00, you can already share in their money making ventures. I can assure you that investing in mutual funds and even stocks is more safer than if you invest in a business venture you have no training and knowledge about.
Philippine mutual funds money and security: Alejandro A. Esteban, editorial consultant
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