Providing Retail Access to Private Market Investment Funds

MAS consults on proposals to provide retail access to private market investment funds    

27 March 2025

MAS issued a public consultation on a proposed new Long-term Investment Fund (LIF) framework that will allow retail investors to invest in private market investment funds. Under the proposed framework, a LIF can take the form of two possible structures – a fund structure that makes direct private market investments (Direct Fund), and a long-term investment fund-of-funds (LIFF) structure that primarily invests in other private market investment funds. The proposed LIF framework adapts existing fund requirements to suit the characteristics of private market investment funds. Through the LIF framework, MAS aims to strike a balance between regulation and product diversity for retail investors.