Hopes rise for Philippines ETF market

Strong foreign investor interest in exchange-traded funds tracking Philippine equities listed offshore has sparked expectations that a local ETF market would be successful.   Last month, the Philippine Stock Exchange (PSE) concluded a consultation on draft rules on ETFs, which are now pending final approval by the country’s Securities and Exchange Commission (SEC). Industry players say they expect the bourse to issue final rules within the first quarter. Thus far, three banks – …