CPFIS funds record 9.69% average returns in Q2 2024

Investment-linked insurance policies (ILPs) recorded average returns of 9.68%.

The overall Q2 2024 performance of funds under the Central Provident Fund Investment Scheme (CPFIS) posted positive returns of 9.69% on average, Morningstar reported.

For CPFIS-included unit trusts and investment-linked insurance policies (ILPs), the average returns stood at 9.71% and 9.68%, respectively.

When combined, the overall performance of CPFIS-included (unit trusts and ILPs fell slightly from 4.88% in Q1 2024 to 3.11% in Q2 2024.

In Q2 2024, the authorized and recognized unit trusts registered for sale in Singapore posted net inflows of $1.8b, increasing 88.9% from $975.3m in Q1 2024.

In addition, fund flows by all major asset classes for the period registered positive net flows except for convertibles.

Fixed income recorded the highest inflow of $906.94m, followed by money market funds with $622.2m and equity with $261.16m.

Convertibles saw the least interest, with outflows of $0.04m, whilst commodities and alternatives registered inflows of $5.75m and $4.12m, respectively.

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