MAS appoints 5 asset managers with S$1.45 billion allocation to support Singapore stock market

SINGAPORE: The Monetary Authority of Singapore (MAS) on Tuesday (Sep 29) appointed five new asset managers under the Equity Market Development Programme (EQDP) to support Singapore's equities market.

This is the third batch of asset managers appointed under the S$6.5 billion (US$5.08 billion) programme, which aims to strengthen the local asset management and research ecosystem and attract more investors to the local stock market. 

MAS will place S$1.45 billion with the five new asset managers: Amundi, Franklin Templeton, HSBC Asset Management, M&G Investments and Natixis Investment Managers.

This will bring the programme's total allocation to S$5.4 billion across 14 asset managers.

They "will draw on their global distribution networks to bring in new sources of international capital seeking exposure to Singapore and the region, which helps broaden investor participation in Singapore’s equities market", said MAS.

It added that it is reviewing proposals for a fourth batch of asset managers and expects to complete the review in 2027. Launched in February 2025, the programme has since been expanded from S$5 billion to S$6.5 billion. 

Announcing the third batch of asset managers at the SuperReturn Asia Conference on Tuesday, Minister for National Development Chee Hong Tat said that they will "further deepen investment capabilities and support the creation of quality jobs in Singapore".

"The managers have strong track records in regional markets and they are committed to continue making significant allocations to Singapore as an integral part of their investment strategies. They bring with them global distribution networks, sources of capital, and expertise that strengthen the depth and dynamism of our public markets," added Mr Chee, who is also MAS deputy chairman.

Singapore's central bank also committed S$20 million from the Financial Sector Development Fund to the Grant for Equity Market Singapore (GEMS) scheme, which is aimed at boosting the trading liquidity of Singapore-listed stocks.

The grant will support appointed market makers providing trading liquidity for an initial group of around 80 eligible small- and mid-cap stocks, as well as newly-listed stocks until Dec 31, 2028. 

These initiatives are part of the Equities Market Review Group's ongoing efforts to strengthen the competitiveness of the local equities market, said MAS.

"Together, these efforts will deepen institutional and retail participation in Singapore equities, making our public markets a more effective destination for listings, financing, and exits within the broader capital ecosystem," added Mr Chee.