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Can I open a non-discretionary portfolio (e.g. Income+) if I do not meet Customer Knowledge Assessment (CKA) criteria?

There are certain more complex retail investment products that are classified as Specified Investment Products (SIPs). 

  • If you want to buy and sell SIPs listed on an exchange, you need to go through a Customer Account Review (CAR) before opening an account.  
  • If you want to buy and sell SIPs that are not listed on an exchange, you need to meet the Customer Knowledge Assessment (CKA) criteria. 
  • You are assessed to be eligible to transact in Unlisted SIPs when you fulfil any one of the three criteria based on your educational qualifications, working experience and/or investment experience. As such, it is important that you answer these questions accurately during the online application process.
  • You are only eligible for Income portfolios if you meet at least one of the following criteria:
    • Have the relevant educational qualifications 
    • Have a professional finance-related qualification
    • Have a minimum of 3 consecutive years of relevant working experience in the past 10 years
    • Have made at least 6 transactions in unlisted SIPs in the last 3 years. Transactions include buying unlisted SIPs or topping up your investment in an unlisted SIP
    • Have completed the free online learning modules from ABS-SAS e-learning portal on SIPs and passed the assessment at the end of it 
  • Please refer to MAS guidelines for better understanding of SIPs. 

Certain portfolios offered on Syfe are classified as non-discretionary due to the use of SIPs in their composition. They are 

  • Income+ Preserve and Income+ Enhance (either funded by cash or SRS) 
  • SRS-funded Core Equity100