'Now is the perfect time to invest'

MANILA, Philippines - It seems that we are nearing the tail end of the global financial crisis. This is an encouraging insight that a leading mutual fund firm wishes to convey to the still wary investing public.

According to Philam Asset Management Inc. (PAMI) president & CEO Karen Roa, “One of the countries which experienced the trickle-down effects of the global financial crisis which started in the US , the Philippines could be considered as having been able to withstand the onslaught that has brought down major financial markets around the globe.”

The fourth quarter of 2008 saw the unprecedented collapse of some of the biggest financial institutions in the US led by investment giant Lehman Brothers and even America ’s largest insurer, AIG.

Although not as affected as the major financial markets, the Philippine stock market hit a snag at the onset of the global financial meltdown. A number of our country’s biggest banks were the first to admit to having significant exposure to the bankrupt Lehman Brothers. Some export-oriented industries also suffered as job orders coming from the US and other affected markets overseas had to cut down, if not totally, cancel job orders in the Philippines. A number of overseas Filipino workers (OFWs) also lost their jobs as their employers abroad felt the impact of the crisis.

Now, a year after the US credit crunch, the Philippines is recovering from the effects of the global financial crisis.

“Even abroad, where it all started, the markets are already settling. Asia is leading the road to global recovery. Philippines is in a good place. This is the time to rebuild. Now is indeed the perfect time to get on board and invest, said Roa.”

The country’s leading and most-awarded mutual funds firm, PAMI is one of the financial services companies which has remained almost unscathed by the passing of the worldwide financial turmoil, with its investments remaining very stable and highly liquid.

PAMI was in fact recently named by AsianInvestor magazine’s 2009 Investment Performance Awards as Philippines ’ Best Onshore Fund House. AsianInvestor deemed it exceptional that, “despite the prevailing global financial crisis, PAMI’s product pipeline remains robust with its pending registration approval from the Securities and Exchange Commission for three new globally-invested mutual funds and one locally-invested balanced fund.”