The Monetary Authority of Singapore (MAS) announced an expansion of the Equity Market Development Programme (EQDP) from SGD 5 billion to SGD 6.5 billion, following the Budget 2026 decision to top up the Financial Sector Development Fund to support the programme. Introduced in February 2025 as part of recommendations from the Equities Market Review Group, the EQDP is intended to develop Singapore’s local fund management industry and increase investor participation in Singapore equities. MAS has allocated SGD 3.95 billion across nine appointed asset managers to date, and said the programme continues to see strong interest and a robust pipeline of applications. The larger funding envelope is intended to support more high-quality asset managers whose strategies invest significantly in Singapore equities and to catalyse third-party investment into the equities market. MAS expects to appoint the next batch of EQDP managers around mid-2026.
Monetary Authority of Singapore 2026-02-12
Monetary Authority of Singapore expands Equity Market Development Programme to SGD 6.5 billion
The Monetary Authority of Singapore announced an increase in the Equity Market Development Programme from SGD 5 billion to SGD 6.5 billion, following the Budget 2026 decision to enhance the Financial Sector Development Fund. This expansion aims to support high-quality asset managers investing in Singapore equities and to boost third-party investment, with the next batch of managers expected to be appointed by mid-2026.