MAS to shortlist fund managers for S$5 billion Equity Market Development Programme by Q3
[SINGAPORE] The Monetary Authority of Singapore (MAS) will shortlist fund managers for its S$5 billion Equity Market Development Programme by the third quarter of 2025.
In response to media queries, an MAS spokesperson said that the programme, which was announced on Feb 21, has received 'good response' from global and regional asset managers.
These managers have submitted proposed strategies for the programme, noted the spokesperson, adding: 'We aim to shortlist suitable strategies by the third quarter of 2025.'
The S$5 billion Equity Market Development Programme will channel the funds to asset managers with a 'strong investment track record' and a focus on Singapore-listed equities.
Funded through its investment portfolio and the Financial Sector Development Fund, the programme aims to enhance market liquidity and support Singapore's fund management ecosystem.
The MAS spokesperson noted that the programme 'will allocate capital to Singapore-based fund managers through investment mandates that focus on actively managed strategies in Singapore equities'.
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'It will support a diverse range of investment strategies, including those invested in or substantially invested in Singapore equities as part of their thematic or regional focus,' the spokesperson added.
In the February announcement, MAS said it will begin evaluating eligible fund managers and strategies in the coming months, with both local and international managers able to participate. New and existing funds will also qualify.
The strategies will be actively managed and diversified across various counters, rather than solely focusing on index component stocks.
Industry observers said then that the programme would bring more attention to mid and small-cap stocks, as well as attract foreign funds to some extent.
Analysts also said the Equity Market Development Programme will likely encourage more funds and products to come to the Republic, even as questions remain on its potential effectiveness.
The programme is part of measures unveiled by a review group set up in August 2024 by Singapore's central bank to strengthen the local equities market. The panel is chaired by then-minister for transport Chee Hong Tat. Chee is now minister for national development.
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