CPFIS funds see 14.71% annual return in Q3, quarterly average return drops 2.54%

SINGAPORE: The Central Provident Fund Investment Scheme (CPFIS) funds showed strong performance in the third quarter of 2024, with an annual average return of 14.71%. This is up from 9.69% in the second quarter, according to the Investment Management Association of Singapore (IMAS) and Morningstar. However, the quarterly average return dropped to 2.54% in Q3, down from 3.11% in Q2.

Singapore Business Review reported that unit trusts had an annual return of 15.29%, with a quarterly return of 3.14%, while investment-linked products (ILPs) recorded an annual return of 14.33%, with a quarterly return of 2.14%.

Among CPFIS-included unit trusts, the EAA Fund Thailand Equity stood out with a quarterly return of 15.50%, followed by the EAA Fund China Equity (13.69%) and EAA Fund ASEAN Equity (12.10%). However, the EAA Fund Islamic Global Equity saw the largest drop, with a quarterly return of -4.68%.

In terms of annual average returns, the top performers included the EAA Fund US Large-Cap Growth Equity, which had a return of 32.75%, followed by the EAA Fund Sector Equity Biotechnology (27.18%) and EAA Fund US Large-Cap Blend Equity (27.13%).

Among ILPs, EAA Insurance China Equity led the average quarterly returns with a return of 12.58%, followed by the EAA Insurance Property – Indirect Global (9.87%), and EAA Insurance Global Equity Income (6.70%).

The worst-performing ILP categories included EAA Insurance Sector Equity Technology, EAA Insurance Islamic Global Equity, and EAA Insurance Islamic Equity – Other.

EAA Insurance Sector Equity Technology (34.44%) and EAA Insurance India Equity (28.33%) saw the best returns over 12 months. /TISG

Read also: Singapore’s CPF ranks 5th in the 2024 Mercer CFA Institute Global Pension Index