Philippine Wealth Fund Likes Physical Assets as Iran War Rages

The Philippines’ sovereign wealth fund says investing in physical assets like metals makes increasing sense against the backdrop of a war in Iran that’s playing havoc with the nation’s fuel market.

With money slowly losing its ability to buy things over time, Maharlika Investment Corp. is interested in tangible assets that will better hold their value and provide investment gains that last, President and Chief Executive Officer Rafael Consing Jr. said in an interview on Wednesday.