BMA Release Foreign Portfolio Holdings Statistics
The Bermuda Monetary Authority today [Nov 30] released findings from an analysis of the Bermuda-based financial sector and government to determine where and how they invest foreign portfolio holdings.
“The Coordinated Portfolio Investment Survey [CPIS] is conducted annually by the Authority with the results becoming part of a broader international study conducted by the International Monetary Fund [IMF]. Participation is voluntary, with all Bermuda financial services entities regulated by the Authority, as well as the Bermuda government, invited to participate in the exercise,” the BMA said.
“Responses show where Bermuda’s financial services entities invest assets and in what form, as well as which countries are investing in Bermuda. The CPIS report aims to improve the understanding of the jurisdiction as an international financial centre and its impact on global financial intermediation.
“Summary findings include:
- Bermuda financial services entities’ foreign portfolio holdings amounted to 67% of Bermuda’s total financial sector assets [US $505 billion];
- Foreign portfolio holdings in Bermuda consisted mainly of debt securities, amounting to US $398 billion, representing 79% of total holdings;
- Geographically, US holdings dominated Bermuda’s foreign portfolio investment assets, accounting for 58% of total holdings, an increase of 9% from 2014; issuances by the UK and Canada accounted for 5% and 4%, respectively; remaining countries’ shares were 3% or less; and
- The insurance subsector continued to heavily dominate foreign portfolio holdings with an ownership share of 84% [or US $426 billion]; investment funds were the second-largest subsector accounting for 14%, followed by banking with 2%.
“The IMF has conducted the CPIS since 1997 with 82 countries currently participating. Bermuda has participated in the CPIS on a voluntary basis since 2001 but results were published for the first time in 2015.
“To access the latest CPIS findings, including background details and methodology, click here or visit the ‘Publications’ section [see: BMA Surveys] on the Authority’s website at www.bma.bm.”
The Coordinated Portfolio Investment Survey report is below [PDF here]
