Singapore Commits Over S$1 Billion to Boost Local Equity Markets

The Monetary Authority of Singapore (MAS) has announced the first appointments under its S$5 billion Equity Market Development Programme (EQDP), selecting three asset managers to oversee an initial S$1.1 billion in capital deployment. This initiative is part of a broader push to strengthen Singapore's equity ecosystem and enhance market vibrancy.

The selected managers - Avanda Investment Management, Fullerton Fund Management, and JP Morgan Asset Management - were chosen for strategies aligned with EQDP objectives, including boosting liquidity and supporting smaller listed companies.

MAS also committed S$50 million to the enhancement of the Grant for Equity Market Singapore (GEMS) Scheme, aiming to improve research coverage and investor engagement. Enhancements include higher grants for research reports, support for digital media dissemination, and funding for research on pre-IPO and private local firms.

To address investor protection, MAS is exploring new avenues for retail investors to seek civil redress in cases of market misconduct. Proposals under consideration include enabling joint legal action, organizing investor representation, and offering funding to reduce legal barriers.

In a statement, MAS said these measures aim to "raise investor interest and trading liquidity, and position Singapore to support more quality listings." Further developments, including updates to governance codes and market structures, are anticipated before the end of 2025.