Staff Reporter
,
Philippines
Returns of Philippine mutual funds stagnated in the 3rd quarter, with most equity funds growing at the same quarterly pace of the benchmark Philippine Stock Exchange index.
The PSEi is now up 22.8% from the start of the year, and is poised to beat the sluggish 4.07% full-year index performance in 2011.
Growth, however, seems to have slowed down from the 2nd to the 3rd quarter of 2012.
On a quarterly basis, the PSEi only grew by a nominal 2.8%, which is still not bad considering the quarterly growth contraction in parts of Europe.
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