MAS allocates S$1.45 billion to five asset managers in third EQDP batch: Chee Hong Tat
The Monetary Authority of Singapore (MAS) has allocated S$1.45 billion to five asset managers to boost the local equities market. Additionally, a S$20 million grant has been introduced to improve liquidity for small and mid-cap stocks.
Why it matters
These measures are part of a strategic effort to revitalize Singapore's stock market and attract international capital to the region.
The central bank also introduces S$20 million market-making grant under Gems scheme
[SINGAPORE] The Monetary Authority of Singapore (MAS) will allocate S$1.45 billion to five asset managers under the latest round of its Equity Market Development Programme (EQDP) , taking total allocations under the initiative to S$5.4 billion out of its S$6.5 billion.
The five managers appointed in the third batch are Amundi, Franklin Templeton, HSBC Asset Management, M&G Investments and Natixis Investment Managers, said Chee Hong Tat, minister for national development and deputy chairman of MAS, at the SuperReturn Asia conference on Tuesday (Sep 29).
Chee added that MAS will also commit S$20 million from the Financial Sector Development Fund to a market-making grant under the Grant for Equity Market Singapore (Gems) scheme, aimed at improving the trading liquidity of Singapore-listed stocks.
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