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Singapore taps JP Morgan, two other asset managers to boost stocks
An initial SG$1.1bn will go toward improving liquidity and expanding investment
The Monetary Authority of Singapore has appointed three asset managers to its plan to boost the local stock market. © Reuters
DYLAN LOH
SINGAPORE -- The Monetary Authority of Singapore said on Monday it has appointed three companies, including JP Morgan Asset Management, to jumpstart a program worth 5 billion Singapore dollars ($3.9 billion) to encourage more investment in local stocks.
The financial regulator said the other two are Fullerton Fund Management and Avanda Investment Management. They will manage a starting sum of SG$1.1 billion aimed at "improving liquidity and broadening participation in Singapore equities" as part of the national program announced in February.
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