Total net assets of the fund
Grant expenditure has decreased 33% (or $116m) from FY21, due partly to adjustments to the training schemes to reduce subsidy rates progressively. Subsidy levels had been temporarily enhanced during the pandemic period.
Total investment income
- Build Capabilities, Strengthen Employability
- Develop Local Talent Pipeline
With the enhanced funding under the for entry-level professionals to be trained in priority areas, we saw strong take-up for example in the area of technology, where more than 250 were groomed to take on technology roles. In addition, following enhancements to the to provide greater funding for postings within Asia to build up capabilities to serve the region, about half of the postings supported were to Asia.
- Transform Workforce Planning and Development
Technology and Innovation
Significant projects supported by the FSTI last year include:
- Industry-wide technological or utility infrastructure projects, such as ESG Registry, a blockchain-powered data platform aggregating industry-recognised ESG certifications and certified ESG data;
- Set-up of by financial institutions, FinTechs and technology companies;
- projects to experiment, develop and deploy innovative solutions using emerging technologies;
- (AIDA) projects to promote AIDA adoption amongst financial institutions and FinTech firms; and
- projects to enhance financial institutions’ risk management and compliance functions.
Financial Sector Activities
- Debt capital market: FSDF supported new bond and insurance-linked securities issuances through the , the , and the . The SBGS has been extended till 2028 to continue spurring growth in sustainable debt. Singapore’s development as a centre for climate risk financing investments will continue to be supported through the ILS grant scheme, which has been extended till 2025.
- Equity capital market: supported listings on the Singapore Exchange as well as training and research initiatives that enrich our public equity research ecosystem.
- Foreign exchange market: Key liquidity providers and multi-dealer platforms were supported under the Foreign Exchange E-Trading Ecosystem (FXET) Grant Scheme.
- Fund Domiciliation: Take up for the remained strong in 2022. The VCCGS has been extended for a further two years till 2025, to continue encouraging VCC adoption by global and regional fund managers.
- Green Finance: The supported corporates, particularly small and medium-sized enterprises, in accessing green financing. The SLGS has been extended till 2028 to support the growth of Singapore’s green and transition finance market.