Assets Managed by In-house and Third Party Asset Managers for Dynamic, Balanced and Stable Funds under SAVER-Premium Fund

5 Mr Chua Kheng Wee Louis asked the Minister for Defence (a) what is the breakdown of the assets managed (i) directly by in-house investment teams and (ii) third party asset managers for the Dynamic, Balanced and Stable funds respectively under the SAVER-Premium Fund; and (b) what is their current asset class composition compared with their target composition.

Dr Ng Eng Hen: Investments from the SAVER-Premium Fund are guided by its Board of Trustees and appointees, which include professionals from the finance sector. The Board of Trustees has entrusted cash and cash equivalents¹ to be managed by the Ministry of Defence (MINDEF)’s in-house SAVER-Premium Fund Department, and for equities and bonds by external fund managers.

The current and target asset allocations are shown in Table 1 and Table 2 below respectively.