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Nikkei Asia
19 hours ago
- Business
- Nikkei Asia
Singapore taps JP Morgan, two other asset managers to boost stocks
Markets 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.
South China Morning Post
a day ago
- Business
- South China Morning Post
Singapore to allocate US$856 million in kick-off of plan to boost stock market
Singapore plans to allocate about US$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 (US$3.9 billion) Equity Market Development Programme – which was first announced in February – were Avanda Investment Management and Fullerton Fund Management, according to a statement on Monday by the Monetary Authority of Singapore. The city state's central bank said it received more than 100 applications for the programme. The MAS said it would appoint additional asset managers in the fourth quarter to manage remaining funds. The central bank would also set aside S$50 million to strengthen local equity research and grow 'a more vibrant listed product ecosystem', the statement said. The details mark the first progress update in months from a government-led task force that was formed to address the local equities market's lagging performance in new listings and trading volumes compared with major regional peers. 'When we invited asset managers to put forth the proposals, we made clear to everybody that this is not just about injecting funds into Singapore's equities market,' said Chee Hong Tat, minister for national development. 'But we're really looking at also how to develop our fund-management industry.' In February, the equity market review group announced a raft of measures aimed at boosting the market. Other initiatives include requiring some family offices to deploy a portion of their assets into domestic equities and streamlining listing rules for companies seeking to go public on the stock exchange.
Business Times
a day ago
- Business
- Business Times
MAS appoints first 3 asset managers to inject initial S$1.1 billion into Singapore equities
[SINGAPORE] Temasek-backed Fullerton Fund Management will be among the first of three asset managers to tap a S$5 billion investment fund initiative announced by authorities earlier this year. The other two are JPMorgan Asset Management and Avanda Investment Management. A combined initial sum of S$1.1 billion will be set aside for the three asset managers under the Equity Market Development Programme, which was first announced by the equities market review group in February. The Monetary Authority of Singapore (MAS), which leads the review group, said on Monday (Jul 21) that the three managers were selected based on a range of factors. These include the alignment of their proposed fund strategies with the programme's objectives, the strength of the proposals to attract third-party capital such as foreign funds, as well as their commitment to contribute to the growth of asset management and research capabilities in Singapore. The fund strategies also have a clear focus on improving liquidity and broadening participation in Singapore equities, with significant allocation to small and mid-cap stocks, said MAS. More than 100 global, regional and local asset managers had indicated their interest in the programme, which is open to local and international managers as well as new and existing funds. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up The regulator said it is currently reviewing the remaining submissions from asset managers and will announce the names of those who are selected in the fourth quarter of 2025. More funding for research Separately, MAS will also set aside S$50 million until 2028 for the Grant for Equity Market Singapore (Gems) Scheme to strengthen research on equities. Based on the Research Development Grant under Gems, each research report will receive an additional S$1,000. A further S$1,000 will be provided if the report is an initiation of research coverage or covers pre-initial public offering stage and newly listed companies. The listing grant under Gems, which defrays listing costs for issuers, will be expanded to cover Singapore Depository Receipts and foreign Depository Receipts with underlying Singapore stocks. Under the new funding sleeve, each Depository Receipt issuance will receive S$40,000. The overall funding per primarily listed exchange-traded fund (ETF) will go up from S$100,000 to S$250,000. A new funding sleeve will also support cross-listed and feeder ETFs at S$180,000 for each listing.
CNBC
3 days ago
- Business
- CNBC
No recession expected over next 12 months, says JPMorgan's Jordan Jackson
CNBC's "Closing Bell" discusses what may be next for markets amid earnings season with Jordan Jackson, global market strategist with JPMorgan Asset Management.
CNBC
3 days ago
- Business
- CNBC
International stocks, AI beneficiaries are set to outperform in a complicated second half, JPMorgan Asset Management says
JPMorgan Asset Management says there are two areas where equity investors can continue to find returns in a complicated second half: International stocks and artificial intelligence beneficiaries. Developed markets excluding the U.S. as represented by the iShares Core MSCI International Developed Markets ETF are up more than 17% year to date. Emerging markets as represented by the iShares MSCI Emerging Markets ETF has similarly rallied 17%. Meanwhile, the S & P 500 is up about 7% om 2025. That momentum should carry on in the latter half of the year, per, JPMorgan Asset Management. "We expect this strong momentum in international equities to continue, with some laggards catching up in the second half including Japan and India. We also expect further depreciation of the U.S. dollar, given its elevated level and the clear shift in drivers," they said in their midyear outlook report released Friday. That outperformance comes even as the U.S. increases pressure on the trade front, with President Donald Trump announcing a slew of tariffs on imported goods. "The first half of the year was really all about this huge policy form," JPMorgan Asset Management's Gabriela Santos said. "I think the second half of the years would be much more about understanding the aftermath of that form in specific areas of the economy, specific areas of the market." To be sure, Santos noted that overseas markets are coming off a low base after more than a decade of underperformance, at a time when valuations in the U.S. equity market are stretched and looking highly concentrated. "This is not about the end of U.S. exceptionalism at all. It's about the normalization of the exceptionalism," the group's chief strategist for the Americas said, adding: "We've been talking about this for years, but there's finally been a catalyst to unleash it." Santos also expects artificial intelligence will continue to be a major theme in the market, but urged investors to look elsewhere from the "Magnificent Seven" to the next phase of AI beneficiaries. She noted earnings growth is steadily declining for Mag Seven, which is projected to post 14% earnings growth in the second quarter, down from more than 27% in the first. "We're very positive that the AI theme is real and has come back as a main driving force for the market," Santos said. "But just that, I think what's really encouraging actually about performance this year has been that there's really much more differentiation within that theme, and importantly that it's always on to the next phase, and this is the next phase of the AI theme, which doesn't just benefit that concentrated, concentrated group of large cap tech." She's confident that the theme can expand to utilities and industrials, as well as to AI adopters who are using the technology for productivity gains within their companies, in addition to semiconductors.
