THE PHILIPPINE Stock Exchange, Inc. (PSE) is seeking to attract more overseas Filipinos to invest in the local stock market.
PSE President and Chief Executive Officer Ramon S. Monzon said that less than 1% of overseas Filipinos have stock market accounts.
Partnerships with government agencies could help encourage greater retail investor participation, he said in a statement on Tuesday.
The PSE has signed a memorandum of understanding (MoU) with the Commission on Filipinos Overseas (CFO) to implement programs aimed at empowering overseas Filipinos to become active participants in the Philippine capital markets.
“By partnering with CFO, PSE will now be able to reach Filipinos who have migrated overseas — specifically those who are permanent residents abroad, including their immediate family members,” Mr. Monzon said.
“I hope PSE and CFO can amplify the shared mission of promoting the well-being, in this case their economic or financial well-being, of Filipinos across the globe,” he added.
The MoU includes initiatives such as learning sessions and information campaigns. The PSE will showcase its PSE Academy website, along with its online and mobile app-based platforms for disclosures, market data, and initial public offering subscriptions, in the webinars and training sessions for overseas Filipinos.
The CFO is an agency under the Office of the President tasked with promoting and protecting the interests, rights, and welfare of overseas Filipinos.
The PSE recorded a 50.1% increase in the number of stock market accounts to 2.86 million in 2024 from 1.91 million in 2023. The growth was driven by a 62% rise in online accounts to 2.47 million.
“More than the numbers, what is important is that retail investors are equipped with investment know-how to avoid investing pitfalls. We address this need for investor education through our various investing literacy initiatives,” Mr. Monzon said.
“We also actively work with trading participants and government and private entities to spread the word about personal finance and stock market investing,” he added. — Revin Mikhael D. Ochave