The three asset managers have also committed to expand or contribute to the growth of the asset management and research capabilities in Singapore.
The Monetary Authority of Singapore (MAS) has appointed Avanda Investment Management, Fullerton Fund Management and JP Morgan Asset Management (JPMAM) as the first batch of asset managers that will launch fund strategies under the Equity Market Development Programme (EQDP), announced the central bank and financial regulator on July 21.
MAS will place a combined initial sum of $1.1 billion with the three firms, out of $5 billion that has been set aside for the EQDP. MAS says the three firms’ proposed fund strategies are aligned with the EQDP’s objectives and will crowd in third-party capital alongside MAS’s funding.
