Amova Asset Management (previously Nikko AM), one of the six appointed asset managers that will launch fund strategies under the Monetary Authority of Singapore’s (MAS) Equity Market Development Programme (EQDP), will be launching two new funds in the first quarter of 2026.
One of the funds is Singapore All Share Strategy that seeks diversified broad-based Singapore equity exposure; while the other is an alpha-seeking “pure play mid- small- cap fund” that focuses on emerging opportunities called the Singapore Small Mid Cap Strategy.
In a press briefing on Nov 25, Lai Yeu Huan, head of Asian equity at Amova AM says: “We have been consistent champions of Singapore as a potential and its potential as an investment destination that rewards conviction and forward thinking.”
“When Singapore turned 50 years old, we introduced the concept of the ‘New Singapore’, and that's our way of describing the industries that we believe will shape our nation's future. These businesses are in technology, data, food, innovation, logistics, renewable energy and new financial services, many of our most successful investments since then have come from these sectors,” he says.
While the asset manager has its eyes on these sectors, the two new funds will take on a bottom-up strategy, looking for undervalued stocks that offer long-term returns.
“We tend to look at things from a very long-term perspective. When we analyse a company, typically, we will have a three-year horizon to the investment,” says Lai.
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“We have an investment philosophy that focuses a lot on high and sustainable returns companies.” adds Kenneth Tang, senior portfolio manager at Amova AM, while elaborating that the fund managers look at “positive fundamental change”, which is basically looking for underappreciated stocks that “for whatever reason” were unable to unlock value.
The launch of these two funds will support Amova AM’s current suite of funds that focus on the Singapore equity landscape. Currently, Amova AM has three active Singapore-focused funds – Amova Singapore Equity Fund (formerly Shenton Thrift Fund), Amova Singapore Dividend Equity Fund and Amova Singapore STI ETF (passive product).
As of now, Amova is the only EQDP chosen asset manager who will be launching two funds. Eleanor Seet, president and head of Asia ex Japan of Amova AM says: “We see this [launch]… as helping us complete a suite of solutions to our clients. Each [fund] has a slightly different focus.”
