The Monetary Authority of Singapore (MAS) has selected six new asset managers under its S$5bn ($3.82bn) equity market development programme (EQDP) aimed at boosting the local stock market.

As part of the second batch of EQDP appointments, the MAS announced it will place S$2.85bn with Amova Asset Management (formerly Nikko Asset Management), AR Capital, BlackRock, Eastspring Investments, Lion Global Investors and Manulife Investment Management.

This follows the first batch announced in July where S$1.1bn was placed with JP Morgan Asset Management, Fullerton Fund Management and Avanda Investment Management.

The next phase of appointments is expected to be released in the second quarter of 2026, with S$1.05bn still remaining to be placed with asset managers as part of the S$5bn programme.

The MAS also revealed a new initiative that will allow Singapore companies to dual-list on the Nasdaq exchange and Singapore Exchange using a single set of documents.

It said the dual-listing bridge aims to attract quality growth companies in Asia with global ambitions and a market capitalisation of over S$2bn to raise capital from investors in both markets.

The MAS and Singapore Exchange also announced a “value unlock” programme with S$30m in grants to encourage listed companies “strengthen investor engagement and sharpen their focus on shareholder value creation”.