Written Reply to Parliamentary Question on Breakdown of Assets Managed by In-House Investment Teams and Third Party Asset Managers for the Funds Under the Home Affairs Uniformed Services Invest Fund

Question:

Mr Chua Kheng Wee Louis: To ask the Minister for Home Affairs (a) what is the breakdown of assets managed (i) directly by in-house investment teams and (ii) third party asset managers, for the Dynamic, Balanced, Stable and Lifecycle funds respectively under the Home Affairs Uniformed Services INVEST Fund; and (b) what is their current asset-class composition compared with their target composition.

Answer:

Mr K Shanmugam, Minister for Home Affairs and Minister for Law:

1. The investments of the Dynamic, Balanced, Stable and Lifecycle Funds are fully managed by external fund managers under our Outsourced Chief Investment Officer model.

2. The current asset-class composition and their reference portfolio is shown below.

Table 1: Current Composition as at 31 March 2023*

* Under the Outsourced Investment Officer model the external fund managers have the flexibility to adjust the asset-class composition within the investment guidelines.

Table 2: Reference Portfolio