The EQDP, announced by the MAS’s equities market review group in February, aims to strengthen the local asset management and research ecosystem and increase investor interest in Singapore’s equities market, especially small- and mid-caps.
The timing is right for measures by the Monetary Authority of Singapore’s (MAS) equities market review group to be implemented, says Ng Kok Song, co-founder and executive chairman of Avanda Investment Management. The decade-old asset management company is one of three firms selected by the central bank and financial regulator to launch fund strategies under the $5 billion Equity Market Development Programme (EQDP).
MAS announced on July 21 that it will place a combined $1.1 billion with fund strategies by Avanda, Fullerton Fund Management and JP Morgan Asset Management, although it stopped short of revealing a breakdown of the figure.
