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MAS to unveil next batch of asset managers for equity market scheme

The first three EQDP asset managers were appointed in July.

The Monetary Authority of Singapore (MAS) is set to announce the second batch of asset managers for the $5b Equity Market Development Programme (EQDP) by the end of the year.

The first three EQDP asset managers were appointed in July.

MAS’s EQDP is designed to support the long-term development of asset management and the local equities market.

According to Gan Kim Yong, deputy prime minister and minister for trade and industry and chairman of MAS, asset managers appointed under the EQDP have put forward investment strategies with a strong focus on Singapore public equities, which can help broaden investor participation in quality small- and mid-cap stocks.

The managers will be reviewed over a minimum of three years in three areas: ability to mobilise capital from other commercial investors into these strategies, whether their strategies deliver investment returns, and whether they follow through on commitments to expand their presence in Singapore.

Those commitments include building research teams locally, taking part in market development initiatives, and training finance talent to support the long-term growth of the equities market.

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