The EQDP has been closely watched since its launch as a $5 billion initiative to channel capital into the local market via private fund managers. At Budget 2026, Prime Minister Lawrence Wong announced a $1.5 billion top-up, bringing total funding to $6.5 billion.
Barely a year after the Monetary Authority of Singapore (MAS) appointed its first batch of fund managers under the Equity Market Development Programme (EQDP), the market is already seeing significant benefits.
On Feb 12, the blue-chip heavy Straits Times Index (STI) passed the 5,000 mark for the first time. The flagship index passed the 4,000 point mark just over a year ago on March 28. The rally in Singapore equities can be largely traced back to the various measures announced by the MAS as part of its Equities Market Review Group. The group was convened in August 2024 and published its final report in November.
