SINGAPORE, Sept. 29 (Xinhua) -- The Monetary Authority of Singapore (MAS) has appointed five asset managers under its 6.5 billion Singapore dollars (about 5.08 billion U.S. dollars) Equity Market Development Program, with 1.45 billion Singapore dollars to be placed with the managers to support the city-state's equities market.
The five managers are Amundi, Franklin Templeton, HSBC Asset Management, M&G Investments and Natixis Investment Managers, the MAS said in a statement on Tuesday.
The latest allocation brings total placements under the program to 5.4 billion Singapore dollars across 14 asset managers.
The managers will use their global distribution networks to attract international capital seeking exposure to Singapore and the region, helping broaden participation in Singapore's equities market.
The MAS said it is reviewing proposals for a fourth batch of asset managers and expects to complete the review in 2027. ■
