HONG KONG - Central Provident Fund (CPF) members will be able to invest up to 100% of their CPF savings in exchange traded funds (ETFs) included under the CPF Investment Scheme-Ordinary Account (CPFIS-OA) and CPF Investment Scheme-Special Account (CPFIS-SA).
The CPF board is encouraging ETF providers to apply for inclusion of ETFs under the CPFIS-OA and the CPFIS-SA.
To be included under CPFIS, ETF products must be listed on the Singapore Exchange, denominated in Singapore dollars, and evaluated as suitable for inclusion by the CPF board's investment consultant. ETF transactions are made through brokers and, depending on the product provider, may also be transacted by fund managers like unit trusts.
By Janet Du Chenne
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