The Monetary Authority of Singapore (MAS) will deploy US$1.8 billion ($2.4 billion) to five asset managers to establish their Asia Pacific sustainability hubs in Singapore.
The five asset managers, who have yet to be named, will launch new thematic funds focused on environmental, social and corporate governance (ESG).
These funds will manage new equity and fixed income mandates focused on climate change and the environment. The appointed managers will also invest in upskilling and capacity building plans on sustainability and furthering ESG research and green FinTech efforts, says Ravi Menon, managing director of the Monetary Authority of Singapore (MAS).
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