NextGen Day

The business sector in the Philippines has expressed excitement and optimism about the Maharlika Investment Fund (MIF) following its recent enactment. Stock market insiders believe that the MIF’s positive impact on trading will be felt after President Ferdinand R. Marcos, Jr. delivers his second State of the Nation Address (SONA) next week.

Jeng Calma, the operations head at A&A Securities, emphasized that the slight decline in the market on Tuesday should not be seen as a negative response to the new law. Instead, investors eagerly anticipate the MIF’s influence on the local bourse, leading to potential market growth post-SONA.

Foreign investors have already positioned themselves in the Philippine Stock Exchange (PSE) in anticipation of the MIF’s implementation, as it promises to infuse significant sums into the market. Calma noted that foreign funds have been interested in blue-chip companies for several weeks.

Francis Chua, the chairman of BA Securities and PCCI, cited Singapore’s successful experience with a similar sovereign wealth fund model, which contributed to the growth of the country’s state funds. He expressed confidence that the MIF would also benefit the Philippine economy.

Market stakeholders eagerly await the “pass-through” of funds from the MIF to the PSE, which is expected to rejuvenate the market and boost investor confidence. The business community is optimistic that the MIF will bring renewed bullishness to the market as investors digest the contents of the upcoming SONA and learn more about the administration’s economic plans for the next five years.

Overall, the business sector is enthusiastic about the potential of the MIF and looks forward to its positive impact on the Philippine economy and the stock market.

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