Citi’s consumer banking head Manoj Varma opened the
sessions and explained the importance of understanding risks and opportunities
when investing. Varma said, “Citigold clients look for trusted advice and
up-to-date information, especially during times of market volatility.”
Citi
Philippines Retail Bank head Rene Aguirre (right) welcomes clients to the 2018
Mid-Year Outlook along with Citigroup Financial Services and Insurance
Brokerage Philippines president Lester Cruz.
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According to Ramon Tejero, Citicorp Financial Services and
Insurance Brokerage Inc. (CFSI) investment product head, market data shows that
we are in the midst of the second longest and third strongest equity bull
market since 1970. Recent market volatility has been primarily caused by rising
interest rates, potential trade wars, and geo-political tensions.
“Despite market concerns, there appears to be opportunities
in technology, financials, healthcare, and industrials due to continued
earnings growth in these sectors,” said Tejero.
In the Philippines, Citi believes the country’s economic
growth momentum will be sustained in the coming years. Citi forecasts GDP will
grow by 6.8% in 2018 and 6.7% in 2019. A primary source of growth will be the
government’s infrastructure program.
However, businesses and consumers are showing cautious
optimism on the back of ongoing inflation concerns. Citi expects inflation to
top 5.3% in the third quarter of 2018 before declining to below 5.0% in the
following quarter.
“Investors can focus on diversification across asset
classes and geographies and income themes, while watching out for tactical
opportunities,” concluded Tejero.
“The world is indeed shrinking and when, where, and how we
invest is largely influenced not only by domestic factors but also by global
market events,” said Rene Aguirre, Citi Retail Bank head. “As trusted advisors,
we help our clients grow and protect their wealth. In recent months, 10 new
investment products have been launched and digital innovations continue to be
developed, such as the recently unveiled next generation Citi mobile app.”
For more information, visit www.citibank.com.ph.
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