The first set of measures to revitalise the Singapore stock exchange includes a $5 billion equity market development programme (EQDP) to invest in Singapore equities and adjustments to the Global Investor Programme (GIP) such that new GIP family office applicants with assets under management (AUM) of at least $200 million must have at least $50 million deployed in Singapore equities.
A Julius Baer analyst is positive about the first set of measures proposed by the Monetary Authority of Singapore’s (MAS) equities market review group to stimulate the local bourse, “given the success of similar reforms in Japan and [South] Korea”.
Jen-Ai Chua, Asia equity research analyst at Julius Baer, says she expects “mid-caps and high-yielding” stocks, as well as “quality companies with improving shareholder returns”, to benefit from the proposed measures, which were unveiled on Feb 21.
