Bet on Philippine Boom Pays Off for This Top-Performing Manager

It’s a bet on infrastructure and property stocks that has helped propel a Philippine fund to the top. And signs that President Rodrigo Duterte’s public-works program is taking off are poised to help it further.

That’s the view of Julian Tarrobago, head of equity at ATR Asset Management Inc., which has 125 billion pesos ($2.4 billion) under management. His Alpha Opportunity Fund has returned 11 percent this year, the most among Philippine equity funds, data compiled by Bloomberg show.

That’s double the advance in the Philippine Stock Exchange Index and compares with gains of about 6 percent for other securities tracking the nation’s shares such as the BDO Equity Fund or UCPB Equity Fund.

“We are finally on the cusp of an infrastructure boom,” said Tarrobago, 45, who says his market experience goes back to 1995. “Unlike in the past, when it was just a story and theoretical, projects are now materializing. This could be one of our strongest periods given the strong GDP, strengthening corporate earnings and falling inflation.”

Read more: Bloomberg