The Monetary Authority of Singapore has published a consultation on proposed amendments to the Code on Collective Investment Schemes that would let a wider range of new fund product types be authorized for retail offer through a more streamlined process. The changes are intended to support product innovation and broader investor choice while keeping safeguards for retail investors in place. The proposals would adjust existing investment requirements and create room for a broader set of innovative fund types that may not fit current CIS Code investment guidelines. A new Alternative Funds Appendix would distinguish these products from traditional funds and apply guardrails tailored to their specific risks, alongside enhanced disclosure requirements. Core requirements would continue to apply, including fundamental standards on areas such as asset safeguarding and liquidity, while fund managers and distributors would still be expected to focus on fair dealing outcomes in the design and distribution of products to retail investors. For most proposals involving new fund types, MAS aims to take about three months to determine the necessary guardrails. After those guardrails are set, funds of the same type would take three weeks to be authorized if they meet the same requirements. Comments on the consultation are invited until 10 August 2026.

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