What does one do with an idle stash of US dollars, whether it be a big pile or a small amount?
Perhaps one is fortunate enough to have savings denominated in the “greenback” courtesy of having worked overseas. Or maybe one is a beneficiary of an overseas Filipino worker who regularly remits home a steady stream of foreign currency.
So how does one use that money? Does one simply spend it? Does one just leave it in a dollar savings account where the interest income is almost nonexistent? Or does one invest the money in a dollar-denominated bond or equity fund managed by an insurance firm or bank? That’s a good option.
BDO Capital and Investment Corp. president Ed Francisco has a better idea.
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“Dollar-denominated securities, specifically equities, might be a better option for you, depending on your investment profile and goals,” he told the Inquirer in an interview. “In this case, we’re offering you an investment instrument that is secure, offers very good yields and can accommodate retail investors.”
He was, of course, talking about the preferred shares offered by publicly listed Del Monte Pacific Ltd. that BDO Capital structured, shepherded through the country’s regulatory maze, and finally opened recently to the investing public— all $150 million worth.
