Retail investors would benefit from more funds, perpetuals being classified as EIPs by MAS

SEVERAL years ago, I encountered a problem trying to invest in a small-cap equity fund through a bank. My relationship manager informed me that the fund did not match my stated risk profile - which was that of a conservative investor.

It apparently did not matter that I only wanted to invest a small amount of money in the fund.

It also seemed to be irrelevant that I had no overlapping exposure to the segment of the market in which the fund invested; or that it was run by a fund manager with a good track record whose strategy I understood.