CPF Investment Scheme funds trailed behind global benchmarks in 2014

CPFIS-included funds rose 7.4%.

Funds included in the Central Provident Fund Investment Scheme (CPFIS) rose 7.4% in 2014, data from Thomson Reuters showed today.

In the fourth quarter of 2014, the overall performance of the CPFIS-included funds posted a return of 2.61% on average.

CPFIS-included unit trusts increased by 2.73% and while investment-linked insurance products (ILPs) under the scheme rose 2.53%.

For all the CPFIS-included funds, equity, bond, mixed-asset and money market types all posted positive returns of 2.98%, 1.29%, 2.48% and 0.04% respectively in the fourth quarter.

These figures are below key benchmarks such as the MSCI World Total Return USD and the MSCI All Country Asia ex-Japan indexes, which showed 5.07% and 4.08% growth respectively. Growth for CPFIS-included funds were close to the Citigroup World Government Bond Index, which gained 2.36%.

For the 12-month period, the overall performance of CPFIS-included funds posted a positive return of 7.39% on average.

CPFIS-included unit trusts increased by 8.28% during the year and CPFIS-included ILPs rose 6.81% on average.

During the same period, key benchmarks MSCI World TR USD and MSCI AC Asia ex Japan Indexes increased by 10.73% and 10.32% respectively, while the Citigroup WGBI TR rose 4.45%.

For the one-year period, equity products (+8.48% on average) outperformed bond offerings (5.13% on average) and mixed-asset types (+6.31% on average).

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