Asian CPFIS funds post double-digit gains in Q3

It grew to 12.11% in SGD for MSCI AC ex Japan in end-Q3 2025.

Performance of CPF Investment Scheme (CPFIS)-included funds at the end of the third quarter (Q3) of 2025 for Asian markets excluding Japan (MSCI AC ex Japan) grew to 12.11% in SGD, data from Morningstar Direct showed.

In three years, the cumulative CPFIS-included funds MSCI AC ex Japan now stands at 50.55%, it added in its performance and risk monitoring report for Q3.

The performance reflects broad equity market strength and improved investor sentiment, Morningstar Direct said.

Across all CPFIS-included funds, the average return stood at 7.88%, it added, extending one-year gains to 11.78% and achieving a 37.03% cumulative return over three years. It is equivalent to an annualised rate of 10.74%.

Unit trusts continued to outperform other CPFIS categories, rising 12.41% over the past year. Over a three-year period, they delivered a cumulative return of 40.43%, or 11.58% annualised.

Investment-linked insurance products (ILPs) also posted solid results, returning 7.18% in Q3, alongside 11.31% over one year and 34.79% cumulatively across three years, or 10.19% annualised, the data showed.

In Singapore, investment volumes in 2026 are expected to surpass 2025 levels as current volumes already exceeded the figure of the previous period, Cushman & Wakefield said.

Investment deals of at least $10m in the city-state as of 7 November 2025 (2025 YTD) stand at $28b, compared to the $25b recorded for the full year before, it said in its Singapore Market Outlook 2026.

Manulife Investment Management has been appointed by the Monetary Authority of Singapore (MAS) as one of the asset managers under the Equity Market Development Programme, a $5b initiative by MAS to boost investors and liquidity in the city-state’s equities market.

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