Hedge funds bullish on the Philippines as Duterte wins election

MANILA (May 10): For hedge funds investing in Philippines shares, Rodrigo Duterte’s landslide victory in the country’s presidential election may represent a buying opportunity.

While the controversial mayor of Davao City has won votes with his tough talk on fighting crime, he has yet to prove his economic credentials and win investors sidelined by a lack of clarity about his plans for managing the economy. The peso has weakened about 2% against the dollar in the past month, while the Philippine Stock Exchange Index dropped for a third consecutive week.

No reason to panic, say hedge funds such as Civetta Capital and F&H Fund Management. They point to strong economic fundamentals in the Southeast Asian nation the World Bank describes as Asia’s rising tiger. The government forecasts the economy will expand more than 6% this year.

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