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Citi
Philippines consumer banking head Manoj Varma (2nd from right) joined
speakers who shared their expertise with Citigold clients at the 2018
Mid-Year Market Outlook (L-R): Kelvin Lam of Allianz Global
Investors, Anis Tiasiri of J.P. Morgan Asset Management, Julian
Tarrobago of ATR Asset Management Inc., and Ramon Tejero of Citicorp
Financial Services and Insurance Brokerage Philippines Inc.
Citi,
the country’s leading foreign bank, remains positive about economic
growth in the Philippines despite current global market volatility.
At a series of mid-year outlook events, Citigold clients heard expert
views on the current market environment and implications for
investment strategy shared by Citi and guest speakers.
Citi’s
consumer banking head Manoj Varma opened the sessions and explained
the importance of understanding risks and opportunities when
investing. Varma said, “Citigold clients look for trusted advice
and up-to-date information, especially during times of market
volatility.”
According
to Ramon Tejero, Citicorp Financial Services and Insurance Brokerage
Inc. (CFSI) investment product head, market data shows that we are in
the midst of the second longest and third strongest equity bull
market since 1970. Recent market volatility has been primarily caused
by rising interest rates, potential trade wars, and geo-political
tensions.
“Despite
market concerns, there appears to be opportunities in technology,
financials, healthcare, and industrials due to continued earnings
growth in these sectors,” said Tejero.
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Citi
Philippines Retail Bank head Rene Aguirre (right) welcomes clients to
the 2018 Mid-Year Outlook along with Citigroup Financial Services and
Insurance Brokerage Philippines president Lester Cruz.
In
the Philippines, Citi believes the country’s economic growth
momentum will be sustained in the coming years. Citi forecasts GDP
will grow by 6.8% in 2018 and 6.7% in 2019. A primary source of
growth will be the government’s infrastructure program.
However,
businesses and consumers are showing cautious optimism on the back of
ongoing inflation concerns. Citi expects inflation to top 5.3% in the
third quarter of 2018 before declining to below 5.0% in the following
quarter.
“Investors
can focus on diversification across asset classes and geographies and
income themes, while watching out for tactical opportunities,”
concluded Tejero.
“The
world is indeed shrinking and when, where, and how we invest is
largely influenced not only by domestic factors but also by global
market events,” said Rene
Aguirre, Citi Retail Bank head. “As trusted advisors, we help our
clients grow and protect their wealth. In
recent months, 10 new investment products have been launched and
digital innovations continue to be developed, such as the recently
unveiled next generation Citi mobile app.”
For
more information, visit www.citibank.com.ph.
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