Singapore's central bank has appointed six asset managers, including BlackRock, as part of its efforts to improve liquidity and trading activity in Southeast Asia's biggest financial center.

The asset managers will have access to funds worth 2.85 billion Singapore dollars, equivalent to US$2.19 billion, the Monetary Authority of Singapore said Wednesday. The other newly appointed fund managers are Manulife Investment Management (Singapore), Japan's Amova Asset Management, Prudential's Eastspring Investments, Singapore lender OCBC's unit Lion Global Investors, and AR Capital, another firm in the city-state.

The funds are part of S$5.0 billion set aside by MAS under its equity market development program to boost the local stock market. The appointments come as the MAS-led review group completes its assessment of Singapore's stock market.

Further measures announced include a S$30 million "value unlock" package to help listed companies deepen investor engagement, MAS said. The package will provide funds for companies to build investor relations and undergo media training, among other initiatives.

Meanwhile, the Singapore Exchange and the U.S.'s Nasdaq jointly said they plan to simplify the process for companies to dual-list on the exchanges, with the arrangement likely to go live from mid-2026.