Maltese portfolio investments overseas estimated at €10.6 billion
Portfolio investment assets held abroad by entities resident in Malta were estimated at €10.6 billion as at the end of December 2007, the National Statistics Office said yesterday.
Holdings of securities that are considered of a direct investment nature (shareholding of 10% or more) are not considered for the CPIS.
Provisional figures show a decrease of €709.1 million in the stock position of total securities. This is mainly the result of decreases of €779.1 million in long-term debt securities. On the other hand, equity securities increased by €70.5 million. There are no short-term debt securities in 2007 when compared to the €0.8 million recorded the year before.
As recorded in previous years, a substantial amount of total securities are invested in Turkey in the form of long-term debt securities, amounting to €3,411.4 million or 32% of the total.
Investments in Germany, the United Kingdom and Jersey each account for 8% of the total, with €898.8 million, €847.6 million and €800.5 million respectively. Securities in the United States and Italy closely follow each accounting for 6% of the total, mostly invested as long-term debt securities.
The Coordinated Portfolio Investment Survey (CPIS) is an annual survey carried out in response to recommendations by the International Monetary Fund (IMF) as a result of the importance of portfolio investment across international borders, reflecting the liberalization of financial markets, financial innovation, and the changing behaviour of investors. Together with a number of countries, Malta has been participating in this survey as from basis year 2001. The purpose of the CPIS is to collect information by country on the market value of the stock position of cross-border holdings, subdivided by: equity securities – shares, stocks, mutual funds and investment trusts; long-term debt securities – securities with an original maturity of more than one year (i.e. bonds, notes and debentures); short-term debt securities - securities with an original maturity of less than one year (i.e. money market and negotiable debt instruments).
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