Our Prime Minister and Minister for Finance presented the Singapore Budget on Thursday, 12 February 2026. In collaboration with Deloitte, this event covered key tax updates announced in the 2026 Singapore Budget which are relevant for asset managers in Singapore. 

Key Takeaways:

• EQDP expanded from $5B → $6.5B – As part of a comprehensive suite of measures to boost demand for SGX-listed stocks, the next batch of fund managers (FMs) is expected to be appointed mid-2026, signalling a direct opportunity for reputable FMs with Singapore-listed equity strategies to access government-backed AUM and catalyse demand for Singapore listed stocks with tax exemption for those FMs who are seeking to list primarily on the SGX.

• New CPF Investment Scheme (launching 2028) – Two to three product providers offering simplified, low-cost, diversified lifecycle investment products with automatic age-based rebalancing. This is a significant opportunity for selected providers, while setting a new benchmark on cost efficiency for the broader industry.
•  New Growth Capital Workgroup – Convened to study the full value chain  from deal origination to capital recycling covering VCs, PE, private credit, and securitised assets. A potential catalyst for mid-sized and homegrown fund managers seeking greater access to deal flow and institutional networks.
•  Startup SG Equity Scheme – $1B committed, with an expansion to cover beyond early-stage and include growth-stage companies in deep tech such as semiconductors, quantum technology, and decarbonisation solutions. This broadens the investable universe and co-investment potential for private capital managers.