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4w ago

MAS Appoints Avanda, Fullerton and JP Morgan to Deploy First S$1.1 B of Equity Market Development Programme

Regulators have kicked off the first allocations under a major S$5 billion initiative designed to revive stock market activity

A view of the Monetary Authority of Singapore building in Singapore April 18, 2016. REUTERS/Edgar Su/File Photo

Overview

  • MAS has selected Avanda Investment Management, Fullerton Fund Management and JP Morgan Asset Management to manage S$1.1 billion of the S$5 billion equity programme.
  • The asset managers were chosen for their strategies to boost liquidity and widen participation in small- and mid-cap Singapore-listed stocks.
  • More than 100 global, regional and local fund managers remain under review for deployment of the programme’s remaining capital.
  • S$50 million has been earmarked to extend the Grant for Equity Market Singapore scheme through 2028 with higher research and ETF listing support.
  • MAS is consulting on proposals to lower legal barriers and provide funding for retail investors seeking collective or individual recourse in market misconduct cases.