The product uses a quantitative strategy and is suitable for investors with a medium to long-term time horizon, the firm said. The fund seeks to achieve capital growth by investing at least 90% in companies whose assets, products or operations are based in the US or are included in the Russell 1000 Index.
Apart from the US-focused equity fund, two other offerings– the PineBridge India Equity Fund and the PineBridge Singapore Bond Fund—are also approved under the CPF system.
CPF is a comprehensive social security system that enables working Singapore citizens and permanent residents to set aside funds for retirement.
In 2013, the number of CPF members increased by 3% to 3.5 million and the total CPF balances grew by 10% to SG$253bn ($188bn), PineBridge said, citing CPF’s 2013 annual report.
The three-year performance of the product against its benchmark, the S&P 500: