Eastspring Investments has been mandated to manage a Singapore equity strategy under the Monetary Authority of Singapore’s (MAS) Equity Market Development Programme (EQDP).
The new strategy will be managed by Eastspring’s Singapore-based investment team and will target both income and growth by investing in Singapore equities. The team is aiming to raise the profile of small and mid-cap stocks in Singapore by expanding its research and investing in companies with a lower capitalisation.
MAS and the Financial Sector Development Fund (FSDF) announced the S$5bn programme in February 2025 with the aim of increasing investor interest in Singapore’s equities market. Under the EQDP, MAS is investing in strategies managed by Singapore-based asset managers.
The first batch of asset managers were announced in July. Avanda Investment Management, Fullerton Fund Management and JP Morgan Asset Management received a combined sum of S$1.1bn to invest.
The second batch of asset managers includes Amova Asset Management (formerly Nikko Asset Management), AR Capital, BlackRock, Lion Global Investors and Manulife Investment Management (Singapore), alongside Eastspring Investments. The groups have been allocated a total of S$2.85bn to invest. The next phase of appointments is slated for Q2 2026.
Rajeev Mittal, CEO of Eastspring Investments, the asset management arm of Prudential, said: “Eastspring has been operating in Asia for over 30 years, and we have an established and strong track record of managing Singapore equities. Our team stands ready and committed to supporting the objectives of EQDP.”
Salman Haider, chief distribution officer, head of ASEAN, Eastspring Investments and CEO of Eastspring Singapore, added: “The EQDP comes at a time where there is increasing investor interest in Singapore equities.
“We are honoured to be part of the national effort to build out the local ecosystem, which is dynamic and has a lot more potential.”
