MAS Deploys S$1.45 Billion to Five Global Asset Managers

The Monetary Authority of Singapore (MAS) announced on 29 September 2026 the appointment of the third batch of asset managers under its S$6.5 billion Equity Market Development Programme (EQDP), allocating S$1.45 billion to five international firms: Amundi, Franklin Templeton, HSBC Asset Management, M&G Investments, and Natixis Investment Managers.

The move brings total EQDP allocations to S$5.4 billion spread across 14 asset managers since the programme launched in February 2025, following earlier tranches of S$1.1 billion to three managers in July 2025 and S$2.85 billion to six managers in November 2025. MAS said it is reviewing proposals for a fourth batch, with a decision expected in 2027.

Global Asset Managers

Alongside the appointment, MAS committed S$20 million from the Financial Sector Development Fund to a new Grant for Equity Market Singapore (GEMS) Market Making Grant, aimed at improving liquidity in around 80 small and mid-cap stocks listed on the Singapore Exchange (SGX) outside the Straits Times Index. The grant will run until 31 December 2028 and is designed to tighten bid-ask spreads and support more active trading in less liquid counters.

Speaking at the SuperReturn Asia Conference, Minister for National Development and MAS Deputy Chairman Chee Hong Tat said the newly appointed managers “bring with them global distribution networks, sources of capital, and expertise that strengthen the depth and dynamism of our public markets.”

The measures are part of a broader package from the Equities Market Review Group, convened by MAS in August 2024 to revitalise the SGX. Officials say the initiatives are intended to draw more international capital into Singapore equities while supporting price discovery and lowering trading costs for retail and institutional investors alike.

MAS said it will continue rolling out the remaining measures under the equities market review in the coming months.

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