SINGAPORE — Singapore is putting another S$1.45 billion behind its equities market as the Monetary Authority of Singapore (MAS) appoints five global asset managers under the latest phase of its Equity Market Development Programme (EQDP).
The third batch includes Amundi, Franklin Templeton, HSBC Asset Management, M&G Investments and Natixis Investment Managers, MAS Deputy Chairman Chee Hong Tat announced on Sept. 29.
The latest allocation takes the total committed under the EQDP to S$5.4 billion across 14 asset managers, out of the programme’s expanded S$6.5 billion allocation.
Why MAS is putting more money into equities
The EQDP is designed to attract additional institutional and international capital into Singapore-listed companies.
MAS said the newly appointed managers can use their global distribution networks to reach investors seeking exposure to Singapore and the wider region, potentially broadening participation in the local equities market.
The latest move follows two earlier rounds: S$1.1 billion was allocated to three managers in July 2025, followed by S$2.85 billion for six managers in November 2025.
MAS is also reviewing proposals for a fourth batch, with the next appointments expected to be completed in 2027.
Another S$20 million targets stock-market liquidity
MAS is not relying solely on asset-management allocations.
The authority will also commit S$20 million from the Financial Sector Development Fund to a new market-making grant under the Grant for Equity Market Singapore (GEMS) scheme.
The programme will initially support market makers covering about 80 small- and mid-cap stocks, as well as newly listed companies, through Dec. 31, 2028.
The goal is to encourage tighter bid-ask spreads, lower trading costs and stronger price discovery.
MAS said the eligible-stock list will be reviewed periodically to include additional companies that could benefit from greater market-making support.
Singapore is also targeting global investment talent
The equities push is part of a broader effort to strengthen Singapore’s position as an asset-management hub.
MAS and the Ministry of Manpower plan to introduce an Investment Management Track under the ONE Pass from late January 2027.
The new track is intended to give investment professionals greater flexibility in meeting the pass’s S$30,000 monthly qualifying salary, allowing a combination of at least S$15,000 in fixed monthly salary and variable compensation.
Further details are expected in Singapore’s Budget 2027.
Singapore’s asset-management sector keeps expanding
Chee said Singapore’s asset-management industry now manages close to S$7 trillion in assets through more than 1,300 asset managers.
The city-state also hosts seven of the world’s top 10 private-market managers, according to his remarks cited by Business Times.
MAS is simultaneously working to streamline the licensing process for fund managers. More than 500 fund-management licence applications have been received, while the median approval time was four and a half months in the second quarter of 2026.
The bigger push is toward a deeper Singapore stock market
The latest measures build on Singapore’s broader equities-market reforms following the Equities Market Review Group’s final report in November 2025.
That review included measures aimed at improving market making, investor participation, listing activity and the overall capital ecosystem.
For Singapore, the objective is broader than simply increasing the amount of money flowing into stocks.
The government is also trying to create a market with greater liquidity, stronger participation and more efficient access to capital for listed companies.
With S$5.4 billion now allocated under the EQDP and another S$20 million aimed directly at market liquidity, Singapore’s next challenge will be turning this wave of institutional support into deeper and more active equity-market participation.
WWC ONE MEDIA G,A
