Amova Asset Management Co., Ltd. (formerly known as Nikko Asset Management Co., Ltd., hereinafter “Amova AM”) has entered into a conditional share purchase agreement to acquire a controlling stake in AHAM Asset Management Berhad (“AHAM Capital”) from leading shareholder CVC Capital Partners and other shareholders, increasing its ownership from 20% to 97.7%, subject to regulatory approvals and customary closing conditions.
Established in 2001, AHAM Capital, together with its wholly-owned Islamic fund management arm, AIIMAN Asset Management Sdn. Bhd., has surpassed RM100 billion in assets under management (“AUM”) as at 30 November 2025. Serving a broad client base ranging from retail and mass affluent investors to corporates, government-linked companies, and institutional clients, AHAM Capital is now among the top three asset managers in Malaysia.
Commenting on the transaction, Stefanie Drews, President and CEO of Amova AM, said, “This acquisition of a leading asset manager in a growth market is truly transformational and marks a pivotal milestone in Amova AM’s journey to connect Asia with global markets. We are proud that this follows so soon after our global rebrand earlier this year. By integrating AHAM Capital’s local expertise and Shariah investment capabilities with Amova AM’s global scale and innovation, we will deliver differentiated solutions for our clients and accelerate growth across public, private and Islamic investment segments. This strategic move underscores our ambition to lead in Asia while expanding our global reach.”
Dato’ Teng Chee Wai, Managing Director of AHAM Capital, added, “Amova AM has been a longstanding and trusted partner since 2011. We remain committed to ensuring this integration delivers meaningful benefits through strengthened capabilities, innovative offerings, and access to a wider regional network. Under the continued stewardship of our management team, we remain focused on continuity and delivering long-term value for our clients and partners who place their trust in us.”