Rome-based Catholic groups take interest in Phl stocks

MANILA, Philippines - The attractiveness of the Philippines as an investment destination has now resonated up to Rome.

The Philippine Stock Exchange (PSE), the operator of the country’s lone equities market, said the country is now in the list of investment destinations for several religious groups in Rome.

The PSE said Christian Brothers Investment Services (CBIS), a leading provider of investment management services for Catholic institutions worldwide, has invited PSE chairman Jose T. Pardo in Rome last Jan. 27 to present investment opportunities in Asia and the Philippines.

The country’s stock market operator said its chairman presented the economic climate and investment outlook in Asia and the Philippines, including the role of economic expansion in promoting inclusive growth.

“The fact that we are now being invited to present in these forums shows that word of our strong economic and stock market performance is reaching different parts of the globe,” Pardo said.

“I believe a lot of companies in Asia and especially in the Philippines adhere to the faith-based investment strategy of CBIS even as we continue to promote good corporate governance among our listed companies,” he added.

The congregational forum was attended by around 80 superior generals and treasurers from Catholic institutions who have expressed interest in rebalancing their portfolio to include equities listed in Asia and the Asean, the PSE said.

The PSE said investors have taken notice of the Philippines given the recent record highs of the market and the positive awareness on the country following Pope Francis’ visit last January.

The Philippine Stock Exchange index (PSEi) has been on a bull run as of late, recording eight all-time highs in just a span of five weeks.

“I am very pleased to have been given this opportunity to talk about investing in our country and in Asia before the religious community. It was an opportune time to tackle the growth prospects of the region and the Philippine stock market especially as our index broke record levels in January,” Pardo said.