Investors pull out $689-m funds in March—BSP data

Defining the News

Foreign fund managers withdrew funds from the local equities and money markets in March 2024 amid the heightened global uncertainties and delayed interest rate adjustment by the US Federal Reserve.

Hot money refers to foreign funds temporarily parked in the equities and money market to take advantage of short-term interest. Meanwhile the $1.6-billion gross outflows in March increased 91.4 percent from the gross outflows recorded for February amounting to $859 million.

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MlaStandard /  🏆 20. in PH

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