Overview

The Monetary Authority of Singapore (MAS) and the Financial Sector Development Fund (FSDF) announced a S$5 billion Equity Market Development Programme (EQDP) in February 2025. The EQDP aims to strengthen the local asset management and research ecosystem and increase investor interest in Singapore’s equities market. The EQDP is one of a series of measures announced by the Equities Market Review Group to strengthen the competitiveness of the local equities market.

Under the EQDP, MAS will invest in strategies managed by Singapore-based asset managers that have a strong focus on Singapore listed equities and broaden investor participation beyond large-cap stocks. MAS seeks to partner asset managers that demonstrate a strong track record and proven investment capabilities, and are committed to meeting developmental outcomes to grow investment and research capabilities in Singapore.

Eligible fund strategies include those that invest fully or substantially in Singapore public equities. Strategies with a higher allocation or tilt towards small and mid-caps are preferred. Fund strategies should be actively managed, and be able to draw in interest and capital from other commercial investors, in addition to seeding from the EQDP.

MAS is prepared to consider existing strategies that meet the requirements, and new fund strategies that will be launched.

How to apply
Interested asset managers may contact MAS at EQDP@mas.gov.sg

Media Release
21 February 2025 A comprehensive set of measures to strengthen Singapore's equities market