Amundi has added two new low-cost index funds under Singapore’s Central Provident Fund Investment Scheme (CPFIS), enabling investors in the city-state to tap into their CPF savings to gain a passive and cost-effective exposure to major indices.

The two additional funds – Amundi Index MSCI Emerging Markets and Amundi Global Aggregate Bond – provide exposure to the MSCI Emerging Markets Index and the Bloomberg Global Aggregate Index respectively. The funds’ low total expense ratio (TER) combined with Amundi’s reputation as one of the largest passive managers in the industry, have allowed the funds to track the index efficiently, mirroring the indices’ performances since inception.

These new funds are available using cash, SRS (supplementary retirement scheme) and CPFIS ordinary account, through distributors such as Endowus Fund Smart, a platform where clients can access a curated list of best-in-class funds at the lowest cost possible across asset classes, geographies, and sectors.

“Retirement adequacy remains a key priority at the individual and national level in Singapore, particularly as inflationary pressures and the impacts of an ageing society weigh on the ability of Singaporeans to meet their retirement needs,” says Albert Tse, Amundi’s CEO for South Asia.

“The latest additions complement our existing developed market-focused offerings on the CPFIS by providing broader exposure to emerging market equities and global investment grade fixed-rate debt. These funds should allow Singapore investors to diversify their exposure with access to various asset classes, which is key to build resilient retirement portfolios and achieve long-term financial objectives.”

Amundi’s suite of low-cost index funds also includes: Amundi Index MSCI World, which seeks to track the performance of MSCI World with a TER of 0.10%; Amundi Prime USA, which seeks to track the performance of Solactive GBS United States Large & Mid Cap Index; Amundi Index MSCI Emerging Markets, which seeks to track the performance of MSCI Emerging Markets Index with a TER of 0.20%; and  Amundi Global Aggregate Bond, whicj seeks to track the performance of Bloomberg Global Aggregate Index with a TER of 0.10%.