Fair to Say 35% of TCs' Fund GONE?

[makapaaa]

<TABLE cellSpacing=0 cellPadding=0 width=593 border=0><TBODY><TR vAlign=top><TD><TABLE cellSpacing=0 cellPadding=0 width=452 border=0><TBODY><TR vAlign=top><TD>Mailbag
</TD></TR><TR><TD vAlign=top width=452 colSpan=2>Published December 5, 2008

</TD></TR><TR><TD vAlign=top width=452 colSpan=2>LETTER TO THE EDITOR
</TD></TR><TR><TD vAlign=top width=452 colSpan=2>Town Councils can invest in structured products

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We refer to the forum letter 'Can TCs invest in structured products?', published on Nov 27, 2008.

Under the Town Councils Financial Rules, Town Councils are allowed to invest funds which are not required for immediate use in Singapore dollar-denominated fixed deposits, stocks, funds and securities.
There is an investment cap of 35 per cent on Town Councils' investments in stocks, funds or securities that are not issued by the Singapore government or any statutory body, or not guaranteed by the Singapore government.
Therefore, Town Councils may invest in structured products within the stipulated limits. However, Town Councils' investments in stocks, funds or securities must be based on the advice of a qualified person.
Examples of qualified persons are an investment adviser holding a licence under the Securities and Futures Act and an approved bank or a merchant bank approved as a financial institution under the Monetary Authority of Singapore Act.
The above investment guidelines for Town Councils were introduced last year to govern the investment of long-term funds.
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</TD></TR></TBODY></TABLE>There is a need to provide Town Councils with sufficient flexibility to invest their funds within this framework, in recognition of the different needs and circumstances of the different Town Councils.
The Ministry of National Development reviews the Town Councils Financial Rules regularly to ensure that they remain relevant.

Tang Tuck Weng
Director (Housing)
Ministry of National Development​

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[PJ Boy]

>Under the Town Councils Financial Rules, Town Councils are allowed to invest funds
>which are not required for immediate use in Singapore dollar-denominated fixed
>deposits, stocks, funds and securities.

So are structured products considered fixed deposits, stocks, funds or securities???