Singapore Taps JPMorgan in Plan to Lift Stock Market

Singapore plans to allocate S$1.1 billion ($856 million) to three asset managers, including JPMorgan Asset Management, as part of a broader effort to enhance liquidity and expand investor participation in the local stock market.

The other firms named for the initial phase of Singapore’s S$5 billion Equity Market Development Program are two state-backed asset managers, Avanda Investment Management and Fullerton Fund Management, according to a statement issued Monday by the Monetary Authority of Singapore.