CPFIS funds up 6.22% in third quarter

Funds under the Central Provident Fund Investment Scheme (CPFIS) rose 6.22 per cent on average in the quarter to Sept 30.
Funds under the Central Provident Fund Investment Scheme (CPFIS) rose 6.22 per cent on average in the quarter to Sept 30.PHOTO: ST FILE

(SINGAPORE) Funds under the Central Provident Fund Investment Scheme (CPFIS) rose 6.22 per cent on average in the quarter to Sept 30, according to research firm Thomson Reuters Lipper.

This is the second straight quarter of positive performance after a run of losses.

Unit trusts in the scheme rose 6.96 per cent while investment-linked insurance products (ILPs) increased 5.75 per cent.

For all CPFIS-included funds, equities posted positive returns of 8.01 per cent while bonds rose 1.24 per cent. Mixed-asset funds added 4.76 per cent but money market funds managed only a gain of 0.16 per cent.

During the same period, the MSCI AC Asia ex-Japan index soared 11.69 per cent, while the Citigroup WGBI was up 1.6 per cent.

For the year to Sept 30, CPFIS-included funds reported a growth of 6.7 per cent on average - a gain of 6.83 per cent from unit trusts and 6.62 per cent from ILPs.

On average, equities with a growth of 7.22 per cent, outperformed bond offerings which rose 5.59 per cent.

During the same period, the MSCI AC Asia ex-Japan Index surged 12.37 per cent and the Citigroup WGBI TR went up 5.2 per cent.