1) it doesn't really matter the entry time b'coz u can't really time the market
2) it matters if u consistently and regularly save and invest. If price goes up, u earn; otherwise, u still buy bargins. I think funds are safe only when u regularly invest. Otherwise, it is just as risky as stock investment.
3) U need to diversify. Technology fund few years back is a good example if you do not...
First choice for most, if not all, people. Performance better than most of active funds. No fee charged from CPF accounts. Would be suitable to you since you are looking for 'entry-level', 'saft' investment instruments.