5 days ago
Singapore to Allocate $856 Million in First Phase of Stock Plan
Singapore plans to allocate S$1.1 billion ($856 million) to three asset managers, including JP Morgan Asset Management, as part of a broader effort to enhance liquidity and expand investor participation in the local stock market.
The other asset managers named for the initial phase of Singapore's S$5 billion Equity Market Development Programme — which was first announced in February — will be Avanda Investment Management and Fullerton Fund Management, according to a statement issued Monday by the Monetary Authority of Singapore, the city-state's central bank. It received more than 100 applications for the program, it said.
