Written Reply by Minister for Defence Dr Ng Eng Hen to Parliamentary Question on Saver Premium Fund Asset Composition on 18 Sep

18 September 2023

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Mr Chua Kheng Wee Louis: To ask 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.

Minister for Defence, 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 & cash equivalents¹ to be managed by 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 respectively.

Table 1: Current asset allocation as at 31 March 2023

Table caption

	Stable Plan	Balanced Plan	Dynamic Plan
Global Equities	-	39%	66%
Global Bonds	13%	29%	16%
Cash & Cash Equivalents	87%	32%	18%

Stable Plan

Balanced Plan

Dynamic Plan

Global Equities

39%

66%

Global Bonds

13%

29%

16%

Cash & Cash Equivalents

87%

32%

18%

Table 2: Target asset allocation as at 31 March 2023