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| Type of Application |
Application Fees (inclusive of GST) before 7 March 2008 |
Application Fees (inclusive of GST) wef 7 March 2008 |
| A) |
Inclusion of a new FMC / Insurer
(domiciled in Singapore or Outside Singapore)1 |
$ 8,200.00 |
$ 8,900.002 |
| B) |
Inclusion of a new Fund or Re-evaluation of an Existing Fund (constituted inside / outside of Singapore) |
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| (i) |
Single Strategy Fund |
$ 4,700.00 |
$ 5,900.002 |
| (ii) |
Index or Exchange Traded Funds
(or capital guaranteed or protected funds that represent a minor variation on the original fund previously evaluated) |
$ 2,800.00 |
$ 3,700.00 |
| (iii) |
Multi-Manager Funds
(with different fund managers) |
$ 4,700.00 + 3,900.00
for each additional different investment team |
$ 5,900.00 + 3,500.00
for each additional different investment team |
| (iv) |
Multi-Strategy Funds
(with same fund managers)
a. Static Asset Allocation Strategy
b. Dynamic Asset Allocation Strategy |
4,700.00 + 2,000.00
for each additional fund with different investment strategy
Nil |
5,900.00 + 2,000.00
for each additional fund with different investment strategy
5,900.00 + 3,500.00
for each additional fund with different investment strategy |
| C) |
CPFIS Risk Classification Review |
$ 100.00
per annum, per fund |
$ 140.00
per annum, per fund | |
Updated as at 28 Feb 2008 | | |
| Type of Application |
Application Fees (inclusive of GST) before 1 January 2009 |
| D) |
Inclusion of a Fund or Investment-Linked Insurance (ILP) Sub-Fund
(which feeds 100% into another fund, or conversion of a feeder fund that has been evaluated previously, for direct offer of its underlying CIS under CPFIS) |
$400.00 |
| E) |
Inclusion of a New Endowment Policy, Investment-Linked Insurance Policy or Annuity under CPFIS |
$ 200.00 |
| F) |
Re-launch of existing Endowment Policy, Investment-Linked Insurance Policy or Annuity under CPFIS |
$ 100.00 |
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| 1 FMCs that are not included under CPFIS but belong to the same group of companies as a CPFIS-registered FMC, generally needs only to pay fees of $900 instead of $8,900 (unless otherwise advised by the Board that they would have to undergo full evaluation) before they may apply to include funds constituted outside Singapore under CPFIS. |
| 2 For (A) and (B), if the FMC/Insurer or product fails to pass the initial review, or if a written notice is given to the Board to withdraw the application before due diligence by the Board’s Investment Consultant, the application fees, less $900, would be refunded. Apart from that, all the application / review fees are not refundable. |
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Note
These fees are subject to review and may be changed from time to time. |
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Mode of Payment
FMCs / Insurers’ cooperation is sought to pay all fees electronically eg. through SHIFT or MEPs at the same time when an application is submitted to the Board. Otherwise, the application process may be delayed. A fax should be sent immediately after payment has been made, marked to the attention of “EO(Investment Schemes) – FMC’s/Insurer’s Fees”, at Fax Number: 6229-3375. Also, attach or indicate the details of the SHIFT or MEPs payment in the cover letter submitted with the application form. The Board will revert with a tax invoice as receipt for the application fees paid and inform of the status of the application. |
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Update Reference: |
DL/28 February 2008/CPFIS-~Fees/INV
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Previous Reference: |
ISBML/1 September 2002 /CPFIS~CISFees;
ISBML/UTILPFee Structure2(ext).doc/25 Apr 2002
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