Last December, Moody’s raised its rating a notch above minimum investment grade. It cited the government’s efforts to sustain relatively low and stable inflation. In 2013, the BSP was named Best Macroeconomic Regulator in the Asia Pacific Region by The Asian Banker. To thrive in a fluid and interconnected world, the BSP adopts a foreign exchange rate policy, which is essentially market-determined.
From this perspective, Mutual Funds play an important role in the development of the financial system. First, they pool the resources of small investors together, increasing their participation in financial markets, which helps both inclusion and the efficient functioning of markets themselves, as a result of larger volumes.