CPFIS funds return 3.73% in Q2

By cai haoxiang

 

THE roughly 300 investment funds approved by the Central Provident Fund (CPF) continued to do well amid liquidity from central banks and low volatility.

The average fund under the CPF Investment Scheme (CPFIS) posted a 3.73 per cent return in the three-month period ended June 2014.

They posted an 11.82 per cent return for the 12-month period to June, and a 16.68 per cent return for the 36-month period to June.

On average, this beat the 4 per cent minimum interest rate offered by the CPF Special, Medisave and Retirement Accounts (SMRA).

China Raises Rates for the Second Time in Over a Month

China's central bank raised interest rates on Tuesday, its second increase in just over a month, intensifying its fight against stubbornly high inflation.


Although annual inflation slowed to 4.6 percent in December, it is set to pick up again in January with food prices on the rise.

Benchmark one-year deposit rates will be lifted by 25 basis points to 3 percent, while one-year lending rates will also be raised by 25 basis points to 6.06 percent, the People's Bank of China said.

The rises take effect from Feb. 9.