Singapore Exchange Ltd and State Street Global Advisors are launching an exchange traded fund ETF early next year which pensions investors may be able to include in their portfolios. Members of Singapore's Central Provident Scheme CPF currently can only invest a portion of their pensions money in domestic shares and unit trusts that are officially sanctioned.
According to Hon Cheung, State Street's managing director in Singapore, a new category may have to be created under Singapore's pensions scheme structure for members to buy into the new product. A joint statement by Singapore Exchange SGX and State Street says they intend to sign a memorandum of understanding to have the ETF listed and traded...
