Ultimate Value by Gus Cosio

When I look at the PSEi chart, I observe that the foot of the current rally started on December 1, 2011.  It was after good numbers were announced in the U.S. about Black Friday and Cyber Monday sales.  The U.S. market got encouragement because the record sales during these two closely watched shopping days presages the mood and buying power of the American consumer.  It is supposed to pave the way for robust Christmas season consumer spending which is a good reflection of consumer confidence and good underlying demand in the economy. (more…)

ANNOUNCEMENT

ANNOUNCEMENT: We have been getting queries regarding valuation changes (if any) considering the PSEi’s trading times have been extended to 3:30pm.

Given that PIFA requires mutual funds to submit their NAVPS by end-day, and that trading closes at 3:30pm, that leaves our company with a very slim margin of time to accurately compute our end-day prices especially for SALEF and SALBF. Please see our resolution below! Thanks!

Dear all,

Please note that we shall be adopting the following effective January 12, 2012:

1. The daily NAVPS will be computed based on the closing prices of stocks, i.e., at 3:30pm.
2. For publication purposes, we will publish the previous day’s NAVPS.
3. Subscriptions and redemptions (as of 12:00 noon cut-off) shall be based on the NAVPS computed using the 3:30pm closing prices of equities. For information and necessary action please.

Thank you!

A well spring of wealth by Gus Cosio

1:47 pm  Thursday  19 January 2012

This week is quite historic in as far Philippine financial markets are concerned.  Last Tuesday, the government auctioned 10 year FXTNs at a record low yield of 5.17%; yet, it was many times oversubscribed that the Bureau of Treasury agreed to open a tap for another Php 9 billion according to bond dealers.  This weak was also a huge turning point to the US$/Php exchange rate and the peso is soaring again together with the stellar performer of the local stock market. (more…)