MAS commits $50m for equity research and listing support

This is part of the central bank’s initiative to attract more investors.

The Monetary Authority of Singapore (MAS) is setting aside $50 from the Financial Sector Development Fund to enhance the Grant for Equity Market Singapore (GEMS) Scheme, which aims to boost equity research in Singapore and support efforts to expand the range of listed products.

Research Development Grant under GEMS will be enhanced to provide additional funding of $1,000 for each research report, with a further $1,000 if the report is an initiation of research coverage or covers pre-IPO stage and newly-listed companies. This brings the maximum funding from $4,000 (current) to $6,000 (enhanced) per research report.

It will also bring new grant funding for research houses to defray the costs of research dissemination via digital media. The expanded grant support aims to broaden investor outreach and engagement, especially amongst younger investors who consume information via digital channels.

The grant will also be used for funding support research on private companies with strong local presence, to foster investor familiarity and build a pipeline of potential listings.

Applicants seeking funding for research on private companies may submit proposals to MAS for consideration.

Meanwhile, the Listing Grant under GEMS will also be expanded to enhance product diversity and trading liquidity in Singapore.

This comprises a new funding sleeve to cover Singapore Depository Receipts (SDRs) and foreign Depository Receipts (DR) with underlying Singapore stocks, providing $40k per DR
issuance. It will also increase the overall funding per primary listed ETF, from $100k to $250k. A
new funding sleeve will also support cross-listed and feeder ETFs at $180k per listing.

This will facilitate more ETF listings in Singapore, adding to the range of listed investment products to provide more investor choice.

This commitment comes following the $5b Equity Market Development Programme (EQDP) initiative launched in February that aims to attract more investors.

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