CPFIS: Time to relook stapled, business trusts
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THE CPF Investment Scheme (CPFIS) has been around for the past 30 years, providing an avenue for CPF members to seek - through various instruments - returns on their CPF savings that are potentially higher than the risk-free interest paid by the board.
Amid the debate on how best to give CPF members avenues to seek higher returns, one way can be simply to broaden the scope of the CPFIS. For that reason, stapled trusts and even business trusts and foreign-incorporated firms can be included in the scheme. Their profiles are not necessarily riskier than that of other listed shares or property funds that are included in the CPFIS.
The first stapled trust and business trust were listed in Singapore some 10 years ago and arguably, investors should be familiar with such products by now. Despite offering yields comparable to or even beating the
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