MAS appoints five asset managers, boosts Singapore equity liquidity

The Monetary Authority of Singapore (MAS) announced today the appointment of the third batch of five asset managers under the SGD 6.5 billion ($5.1 billion) Equity Market Development Programme (EQDP).

MAS will place SGD 1.45 billion ($1.1 billion) with the appointed managers, bringing total allocations under the EQDP to SGD 5.4 billion ($4.2 billion). MAS has also committed SGD 20 million ($15.7 million) from the Financial Sector Development Fund (FSDF) to the Grant for Equity Market Singapore (GEMS) Scheme to enhance equity market-making activities in Singapore. The announcements were made at the SuperReturn Asia Conference on 29 September 2026 by Chee Hong Tat, Minister for National Development and Deputy Chairman of MAS.

These initiatives are part of the Equities Market Review Group’s measures to strengthen the competitiveness of Singapore’s equities market. The Review Group published its final report in November 2025.

The third batch comprises Amundi, Franklin Templeton, HSBC Asset Management, M&G Investments and Natixis Investment Managers. The managers will draw on their global distribution networks to attract new sources of international capital seeking exposure to Singapore and the region, broadening investor participation in the market. Together with the earlier EQDP appointments announced in July and November 2025, total allocations under the programme now amount to SGD 5.4 billion ($4.2 billion) across 14 asset managers.

MAS is reviewing proposals for a fourth batch of asset managers and expects to complete the review in 2027.

MAS has committed SGD 20 million ($15.7 million) from the FSDF for a new GEMS Market Making Grant to support market-making activities in SGX-listed stocks until 31 December 2028. The grant will support appointed market makers in providing trading liquidity for an initial group of around 80 eligible small- and mid-cap stocks, as well as newly listed stocks.

The grant aims to facilitate tighter bid-ask spreads, reduce execution costs and strengthen price discovery. The list of eligible stocks will be reviewed regularly to include additional stocks that could benefit from enhanced market-making support. Over time, this is expected to improve market quality and trading liquidity and attract greater investor interest in these stocks.

Today’s announcements build on progress in implementing the Review Group’s measures. MAS will continue to implement the remaining measures to strengthen Singapore’s equities market.

 Re-disseminated by Wealth and Society