Singapore beefs up rivalry with Hong Kong by picking 5 firms to boost equity market

Singapore’s central bank has selected five international asset managers to handle S$1.45 billion (US$1.3 billion) in locally focused equity strategies, making its latest effort to revive the city state’s stock market amid sharpening rivalry with regional financial hub Hong Kong. Amundi, Franklin Templeton, HSBC Asset Management, M&G Investments and Natixis Investment Managers were named on Tuesday as part of the third batch of mandates awarded under the Monetary Authority of Singapore’s (MAS)...