Singapore Taps JPMorgan in Plan to Lift Stock Market (Correct)

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.

The MAS, which received more than 100 indications of interest from firms for the program, will appoint additional asset managers by the fourth quarter ...