The Monetary Authority of Singapore allocated S$1.45 billion to five asset managers in the third round of its Equity Market Development Programme. Amundi, Franklin Templeton, HSBC Asset Management, M&G Investments and Natixis Investment Managers received mandates. The allocation is intended to support investment in Singapore-listed equities.
The latest placement increased total programme allocations to S$5.4 billion across 14 asset managers. The programme was expanded to S$6.5 billion in February. It forms part of Singapore's effort to deepen the domestic equities market and attract additional asset-management activity.
FIVE MANAGERS JOIN THE PROGRAMME
MAS said the appointed managers would draw on their global distribution networks to bring in new sources of international capital seeking exposure to Singapore and the region. The first two batches, appointed in July and November 2025, received S$1.1 billion and S$2.85 billion respectively. Reuters reported that the S$1.45 billion allocation was equivalent to about US$1.1 billion.
MAS separately committed S$20 million to strengthen market-making in Singapore-listed equities. The funds, from the Financial Sector Development Fund, will finance a new GEMS Market Making Grant supporting market makers in around 80 eligible small- and mid-cap stocks, as well as newly listed stocks, until 31 December 2028.
IMPLEMENTATION MOVES TO A FOURTH ROUND
The third allocation leaves part of the expanded S$6.5 billion programme not yet placed. MAS said it was reviewing proposals for a fourth group of managers and expected to complete that process in 2027.
MAS Deputy Chairman Chee Hong Tat said the selected firms "bring with them global distribution networks, sources of capital, and expertise that strengthen the depth and dynamism of Singapore's public markets." The next concrete milestone is the fourth-round selection.