The Monetary Authority of Singapore (MAS) has selected five new asset managers under the city state’s equity market development programme (EQDP) aimed at boosting its domestic equity market.

The MAS said it will place S$1.45bn ($1.13bn) with a third batch of appointed asset managers which include HSBC Asset Management, Amundi, Franklin Templeton, M&G Investments, Natixis Investment Management.

This latest batch of asset manager appointments comes almost a year after the second batch of appointments was revealed by the MAS in November 2025.

The EQDP’s total allocation has now reached S$5.4bn out of a total S$6.5bn, across 14 asset managers, and a fourth batch of asset managers expected to be reviewed and chosen in 2027.

Singapore’s Minister for National Development Chee Hong Tat said at the SuperReturn Asia Conference on Tuesday that the managers chosen “have strong track records in regional markets and they are committed to continue making significant allocations to Singapore as an integral part of their investment strategies”.

Manraj Sekhon, CEO of Templeton Asset Management and CIO of Templeton Global Investments, said: “We are delighted with this opportunity to unlock the investment potential of Singapore equities and develop innovative products and structures.”

“Franklin Templeton’s long history in Singapore, deep roots across Asia and global investment platform put us in a distinctive position to turn that ambition into action.”

Pang Qi Lim, CEO of HSBC Asset Management Singapore said: “we are excited to contribute to the continued development and internationalisation of Singapore’s equity market, building on HSBC’s longstanding commitment to Singapore and its asset management ecosystem.”

“Bringing together HSBC Asset Management’s investment capabilities and the bank’s deep institutional banking and wealth network, with both local and global reach – we are uniquely positioned to connect clients across markets to trade, invest, grow, and manage risk internationally.”

“We look forward to leveraging these strengths to attract capital, broaden investor participation to further support the growth of a more vibrant and internationally connected equity market.”