Average Length of Time Stocks Listed on Singapore Exchange Held by Individuals and Institutional Shareholders

Assoc Prof Tan Kheng Boon Eugene asked the Prime Minister (a) on average, how long is a stock that is held by individual and institutional shareholders listed on the Singapore Exchange (SGX); and (b) over each decade from 1990 to 2009, what percentage of stocks listed on the SGX were held by individuals.

The Central Depository (CDP) is required to maintain records for six years. Based on CDP's records, the average stock holding period for individual investors in SGX-listed stocks over the period from 2007 to 2011 was around 10 months. The holding period had increased from an average of around six months in 2007 to around

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months in 2011. The data for 2012 is currently being processed by CDP.

From 2007 to 2011, individual investors accounted for approximately 25% of stock holdings.

Assoc Prof Tan also inquired about the holding period for institutional investors in SGX-listed stocks. This information is not available as most institutional investors hold shares in custody or omnibus accounts through financial institutions, rather than through direct accounts with CDP.