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CPF Board has re-appointed Morningstar Research Pte. Limited (“Morningstar”) as its investment consultant under the CPF Investment Scheme (CPFIS), starting from 7th March 2012. The re-appointment came about from an open tender called last November, which is part of a routine process to review the consultancy service contract.
The CPFIS provides an avenue for members, who wish to seek potentially higher returns, to invest their CPF savings through a variety of market instruments. As CPF savings are meant for members’ retirement, the CPF Board works with a qualified consultancy company to create an optimal choice of quality funds under the CPFIS that is expected to yield consistent and sustainable returns over time.
Morningstar was re-appointed based on its qualifications, expertise and track record, the amount of in-house resources that the consultancy personnel can tap on, and price of service.
With the re-appointment, Morningstar will continue to assume the role of evaluating 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, seeking to be included under the CPFIS.
The new contract will be for a period of three years from the commencement of the consultancy services.
For more information, please visit www.cpf.gov.sg or call the CPF Call Centre at 1800-227-1188.
Click here for FAQs on Open Tender for CPF Board’s Investment Consultant.
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