Nevertheless, Aclan believes that any correction will be limited as the country sustains annual economic expansion rates of at least 6% for a third year. Additionally, the manager argues for continued strength in the long-term.
“The market is cheaper if you extend your earnings horizon,” Aclan added. “The investment grade ratings upgrade further solidifies the view that Philippine macro fundamentals remain intact. The general direction is for us to look at opportunities when the market corrects.”
iShares MSCI Philippines ETF
For more information on the Philippines, visit our Philippines category.
Max Chen contributed to this article.