The Monetary Authority of Singapore (“MAS”) has issued the revised Code on Collective Investment Schemes, together with its response to public feedback received from its public consultation on proposed amendments to the Code released in May 2010. Key changes include: (i) introducing a list of permissible investments for funds; (ii) strengthening safeguards on the use of financial derivatives and counterparty requirements; (iii) enhancing guidelines on securities lending activities; (iv) enhancing requirements for funds investing in structured instruments; (v) establishing new guidelines for funds which track an index; (vi) introducing the concept of weighted portfolio maturities for money market funds; (vii) standardising the methods used to calculate any performance fees imposed; (viii) introducing principles on the naming of funds; and (ix) prohibiting the use of simulated past performance data.