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What is the rationale of harmonising the criteria for new and existing funds under the CPF Investment Scheme?
CPF Board ("CPFB") has, since 2006, taken measures to improve the quality of funds in CPF Investment Scheme (CPFIS) and lower the costs of investing. From 1 February 2006, new Unit Trusts and Investment-Linked Products (collectively known as "funds") must meet the stricter criteria1 before being admitted into CPFIS2. From 1 January 2011, all funds in the CPFIS must meet the stricter criteria to continue to take in new CPF monies. This is part of CPFB's ongoing efforts to lower cost and improve the quality of CPFIS funds to benefit CPF members who seek to invest their CPF savings for higher returns.

1(i) Top quartile of global peer group (ii) Total Expense Ratio lower than the median of CPFIS funds in respective risk class (iii) Sales charge not exceeding 3% and (iv) Preferably track record of 3 years.

2Prior to 1 February 2006, the admission criterion was top 50 percentile of global peer group.