The Philippines “missed the boat” for the Maharlika Investment Fund, national treasurer Rosalia de Leon said. | DFernandezINQ
Meanwhile, Senator Risa Hontiveros asked if it would be necessary to hire foreign experts to manage the fund.
Bankers Association of the Philippines president Antonio Moncupa Jr. said that fund managers in the country are capable of handling the MIF. “I think that returns and risks are closely correlated. You get higher returns if you take higher risks, and there’s no shortcut about it,” Moncupa said. “I think that right now, Philippine fund managers are capable, as we’ve seen with DBP and Land Bank [of the Philippines]. I was looking at their performance, and I think through the years, they’ve shown the capacity to manage the funds by the way if you look at the return equity that they have been registering,” he added.
Senator Mark Villar, panel chairperson, concluded the deliberations on the MIF. A technical working group on the bill on March 1 will be held.
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