A local fund manager has urged Filipinos to diversify their investment portfolio amid the changing global economic landscape, as headwinds such as the impact of the novel coronavirus (COVID-19) is seen to affect certain sectors.
Rizal Commercial Banking Corp. Trust and Investments head Mario Miranda urged Filipinos to opt for for strong defensive investment positioning due to heightened local and global risks.
He cautioned investors on the risks brought about by the effect of the COVID-19, that may dampen economic growth. Despite stringent measures being taken to prevent the spread of the virus, an increase in terms of risk aversion in global and local financial markets is seen as a result of this.
“We see interest rates trading sideways with a slight downward bias due to risk off sentiments and expect the equity market to trade higher following the rebounding economic growth forecast,” Miranda said.
For conservative investors, Miranda suggested investments in money market funds, while aggressive investors can take advantage of volatilities by parking their funds through equities and fixed income.
