Singapore’s third equity-market allocation could send S$435 million to small and mid-cap stocks

The Business Times reports that Singapore’s monetary authority said it would place S$1.45 billion with five fund managers under its Equity Market Development Programme. JPMorgan analysts estimate that about S$435 million could flow into small and mid-cap stocks if they receive 30% of the allocation. The analysts say mid-caps have lagged the benchmark index and the liquidity may take time to arrive, with fund managers typically taking four to six months to launch.