Top Philippine Fund Manager Doubles Cash Levels as Rally to End

Updated on
  • Foreigners have `left the Philippines for this year'
  • Overseas funds have been net sellers for five months

The top-performing fund manager in the Philippines has almost doubled cash holdings, betting that the nation’s stocks will extend their longest monthly losing streak since 2002 as China’s economic slowdown roils emerging markets and the U.S. gets closer to raising borrowing costs.

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