Singapore's state pension fund, the Central Provident Fund (CPF) Board, has hired research firm Morningstar as its investment consultant.
Morningstar will replace the CPF Investment Scheme's current investment consultant firm, Mercer, from March 7.
The firm will evaluate product providers, such as fund managers and insurers, as well as their products, such as unit trusts, investment-linked insurance products and exchange-traded funds, seeking to be included in the CPF Investment Scheme.
The contract is for a period of three years, with the option of extending it for two additional one-year terms.
"We are very honoured and excited to be working with the CPF Board going forward," Morningstar Asia chief executive Jin Tian said.
