Sun Life Philippines’ asset management arm expects the local stock market’s bull run to reach a seventh year in 2015.
In a briefing, Michael Gerard Enriquez, chief investment officer of Sun Life of Canada Philippines Inc, said the Philippine Stock Exchange index (PSEi) could rise to anywhere from 7,800 to 8,000 this year.
"We continue to be very positive for equities and fixed income, especially for first half of the year. I'll be more optimistic on corporate earnings," said Enriquez, who manages the P47 billion portfolio of Sun Life Asset Management Company Inc (SLAMCI).
"We would expect more fund flows this year," Enriquez said, citing consumer, power and banking stocks as among the darlings of investors in 2015.
"We're hoping that investors should start coming in at this point where there is less headwinds that can create uncertainties in the market. Investors should start coming in and participate in this growth story of the Philippines," he said.
Sun Life’s bullish outlook is premised on the Philippine government meeting its economic growth target of 7-8 percent this year on the back of higher government spending, election-related spending and cheaper oil.
"For government spending, I would think that the government has learned their lesson last year. But for 2015, we should be mindful that the government only has until November to fund all projects they need to fund due to the block out period before the 2016 elections," Enriquez said.
SLAMCI manages eight funds collectively called the Sun Life Prosperity Funds.
Through its 2,449 financial advisors and 10 bank partners, SLAMCI's number of active clients has grown to 60,776 at end-2014, marking a 21 percent growth year-on-year.
- Interaksyon
In a briefing, Michael Gerard Enriquez, chief investment officer of Sun Life of Canada Philippines Inc, said the Philippine Stock Exchange index (PSEi) could rise to anywhere from 7,800 to 8,000 this year.
"We continue to be very positive for equities and fixed income, especially for first half of the year. I'll be more optimistic on corporate earnings," said Enriquez, who manages the P47 billion portfolio of Sun Life Asset Management Company Inc (SLAMCI).
"We would expect more fund flows this year," Enriquez said, citing consumer, power and banking stocks as among the darlings of investors in 2015.
"We're hoping that investors should start coming in at this point where there is less headwinds that can create uncertainties in the market. Investors should start coming in and participate in this growth story of the Philippines," he said.
Sun Life’s bullish outlook is premised on the Philippine government meeting its economic growth target of 7-8 percent this year on the back of higher government spending, election-related spending and cheaper oil.
"For government spending, I would think that the government has learned their lesson last year. But for 2015, we should be mindful that the government only has until November to fund all projects they need to fund due to the block out period before the 2016 elections," Enriquez said.
SLAMCI manages eight funds collectively called the Sun Life Prosperity Funds.
Through its 2,449 financial advisors and 10 bank partners, SLAMCI's number of active clients has grown to 60,776 at end-2014, marking a 21 percent growth year-on-year.
- Interaksyon
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