CPFIS funds lose 1.5% in Q2 as money flees Asia

Singapore

FUNDS that can be bought using Central Provident Fund (CPF) savings underperformed global benchmarks to post negative returns of -1.53 per cent in a volatile second quarter, said research firm Lipper.

The volatility could persist in the second half of the year, as uncertainties about interest rates and China continue to chase away capital, said Xav Feng, Lipper's head of Asia-Pacific research.