Returns from CPFIS funds up in Q2
Investors who parked their money in funds under the Central Provident Fund Investment Scheme (CPFIS) can now heave a small sigh of relief after a few quarters of negative performance.
Research firm Lipper, which monitors all CPFIS funds, said that for the three months ending June 30, the overall performance of CPFIS-included funds rose 0.68 per cent on average.
Unit trusts in the scheme increased 0.34 per cent, while investment-linked insurance products (ILPs) rose 0.89 per cent.
For all CPFIS-included funds, equities and bonds posted positive returns of 0.45 per cent and 1.39 per cent, while mixed-asset and money market funds grew 0.95 per cent and 0.18 per cent, reported The Straits Times Online.
The performance is consistent with global trends in the same period.
However, investors who held these funds for the 12 months till June this year experienced lacklustre results.
Lipper said that during this period, the overall performance of CPFIS-included funds fell 5.94 per cent on average. CPFIS-included unit trusts slid 7.17 per cent and CPFIS-included ILPs fell 5.21 per cent on average.
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