MAS appoints three firms to manage S$1.1 billion for Singapore's stock market development.

The Monetary Authority of Singapore (MAS) has appointed three asset managers—Avanda Investment Management, Fullerton Fund Management, and JP Morgan Asset Management—to manage S$1.1 billion under its S$5 billion Equity Market Development Programme. This initiative aims to strengthen Singapore's stock market by attracting commercial capital and improving market vibrancy. MAS also proposed enhancements to investor protection measures, including easier access to civil recourse for market misconduct and a grant scheme to cover legal costs. The program seeks to enhance liquidity and interest in Singapore's equities, especially for smaller companies.