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CPF Board will be appointing Morningstar Research Pte. Limited (“Morningstar”) as its investment consultant under the CPF Investment Scheme (CPFIS) from 7th March 2008.
Morningstar will assume the role of evaluating suitable product providers such as fund management companies and insurers as well as their products such as unit trusts, investment-linked insurance products, exchange traded funds etc, seeking to be included under the CPFIS.
Morningstar was appointed based on its qualifications and expertise, track record and price of service. The new contract will be for a period of three years from the commencement of the consultancy services, with the option by the Board to extend for two additional one-year terms.
The Board would like to take the opportunity to thank its current investment consultant, Mercer (Singapore) Pte Ltd, for its past service and welcome Morningstar onboard.
The Board would also like to assure CPF investors that they will not be affected by the new appointment in Investment Consultant as existing funds included under CPFIS would not need to undergo re-evaluation1.
Members with enquiries can call the Call Centre at 1800-227-1188.
Click here for FAQs on Open Tender for CPF Board’s Investment Consultant.
1Existing funds are not required to undergo re-evaluation as a result of the change in investment consultant provided that the FMCs/funds have not undergone material changes in the organisational structure, fund structure or management team. Otherwise, a re-evaluation is still required.
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