The programme, designed to help boost the vibrancy of Singapore’s $1 trillion equity market, may support a rally that has brought the benchmark stock index to a record high. The MAS set up a government-led task force in 2024 to find ways to bolster the market after years of poor liquidity and delistings outnumbering new listings.
(Jan 23): Singapore has started handing out part of the $5 billion (US$3.9 billion) it plans to invest in local stocks to selected fund managers, in a bid to cement an equity market revival.
JPMorgan Asset Management, Temasek Holdings Pte Ltd-backed Avanda Investment Management Pte Ltd and Fullerton Fund Management Co are among the first to use government cash to anchor new funds backing listed Singaporean companies. The three were awarded a combined $1.1 billion from the Monetary Authority of Singapore (MAS) as part of the first tranche of its Equity Market Development Programme (EQDP).
