The Monetary Authority of Singapore (MAS) has committed to allocating SG$1.45 billion to five asset managers under the latest round of its Equity Market Development Programme (EQDP), according to local media reports on Tuesday, quoting Chee Hong Tat, minister for national development and deputy chairman of MAS.

With this latest round, the total allocations under the EQDP initiative will increase to SG$5.4 billion of the total commitment of SG$6.5 billion, the reports said.

The five managers receiving the funds are Amundi, Franklin Templeton, HSBC Asset Management, M&G Investments, and Natixis Investment Managers.

MAS also plans to commit SG$20 million from the Financial Sector Development Fund for the Grant for Equity Market Singapore (Gems) scheme to improve trading liquidity in Singapore-listed stocks, according to the reports.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)