Eastspring Investments, the US$286 billion asset management business of Asia-focused insurance firm Prudential, will manage a Singapore equity strategy under the Monetary Authority of Singapore’s ( MAS ) Equity Market Development Programme ( EQDP ).

The EQDP, an initiative by the MAS aimed at fostering the growth of Singapore’s equity ecosystem seeks to deepen market liquidity, broaden investment options and drive sustainable market development.

The new strategy will be managed by Eastspring’s Singapore-based investment team and will focus on income and growth opportunities by investing in Singapore equities, including small and mid-cap stocks.

The team plans to broaden small and mid-cap stocks research coverage and further raise awareness of such companies in Singapore.

“As the largest Singapore-headquartered asset manager, it is with great pride that we have received the EQDP mandate,” states Rajeev Mittal, the asset manager’s CEO. “Eastspring has been operating in Asia for over 30 years, and we have an established and strong track record of managing Singapore equities.”