On Friday, January 11, Mr. Toto Cruz of IGC Securities (Broker Code: 140) made a presentation to institutional brokers, analysts and fund managers on their outlook for Philippine Equities in 2008. What follows are some excerpts from that talk which might indicated the flavor of institutional fund strategy in 2008.
Summary
The salient points of the presentation are:
- The world economy continues to be healthy and the US can avoid a recession in 2008.
- The bull market may be aging, but in its early stages.
- Growth premium in emerging markets over developed world will continue.
- Equities in 2008 will remain to be an attractive investment amidst low bond yields and reasonable corporate earnings outlook.
- The Philippine growth story remains compelling.
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