Acquisition strengthens Amova AM’s investment platform, expands Shariah-compliant investment capabilities and reinforces global connectivity.
Amova Asset Management Co., Ltd. (formerly Nikko Asset Management Co., Ltd., hereinafter “Amova AM”) today announced that it has entered into a share purchase agreement to acquire all remaining shares of AHAM Asset Management Berhad (hereinafter “AHAM Capital”), one of Malaysia’s leading asset management firms. Amova AM currently holds a 20% stake in AHAM Capital, and the strategic acquisition of the remaining shares from leading shareholder CVC Capital Partners and other shareholders will bring Amova AM’s stake to a maximum of 100%, making AHAM Capital a consolidated subsidiary. Completion of the transaction is subject to regulatory approvals in Malaysia and Japan.
AHAM Capital: a market leader in Malaysia
AHAM Capital is among Malaysia’s top three asset managers with over RM 100 billion in assets under management as of 30 November 2025. Since its establishment in 2001, the company has built a distinguished reputation by providing diverse investment solutions to a broad client base including institutional investors, pension funds, government-linked entities, high-net-worth individuals and retail investors. AHAM Capital has more than doubled its assets under management over the past decade cementing its leadership position in the Malaysian asset management industry. AHAM Capital also operates AIIMAN Asset Management Sdn. Bhd. (hereinafter “AIIMAN”), a leading Shariah-compliant investment company, and other subsidiaries including private equity fund manager Bintang Capital Partners Berhad, and a minority stake in Versa Asia Sdn Bhd, a fast-growing digital wealth distribution platform in Malaysia.
Amova AM: long term commitment to clients in Asia
Southeast Asia, including Malaysia, is one of Amova AM’s key focus areas. Since becoming a shareholder in AHAM Capital in 2011 as part of the DBS AM transaction, Amova AM has remained steadfast in its commitment to Malaysia to shape a brighter future together with its stakeholders and in recognising the importance of partnership to deliver excellence to clients.
As both companies are united by this fiduciary duty to put clients’ goals first, Amova AM contributed strategic stability, scale and global capabilities to meet the needs of Malaysian clients. This helped enable AHAM Capital’s expansion from its entrepreneurial beginnings to its position of leadership today, while growing both companies’ assets under management.
This strategic investment will create significant opportunities for Amova AM in Malaysia and Southeast Asia, building on the already strong partnership fostered between the companies over the years. It is expected that the acquisition will allow Amova AM and AHAM Capital to cooperate closely operationally and thereby generate synergies benefiting all stakeholders. By leveraging AHAM Capital’s established local resources and expertise, Amova AM intends to expand its offering of progressive solutions to institutional, intermediary, high-net-worth individuals and retail investors and drive both organic and inorganic growth in Asia.
Furthermore, through subsidiary AIIMAN, Amova AM plans to increase its efforts in the Shariah-compliant investment market, which represents a significant growth opportunity, and continue its expansion in the private asset and B2C consumer areas. The acquisition of AHAM Capital will further enhance Amova AM’s ability to connect Asia with global markets by tapping into a broader and more diverse talent pool in terms of language and international experience.
Commitment to global growth
As a global asset management company headquartered in Japan, this acquisition builds on Amova AM’s strong foundation of innovation, scale and client-centric solutions, enabling the firm to deliver progressive investment strategies across Asia and beyond. Amova AM plans to leverage AHAM Capital’s strong foundation and local resources and expertise in Malaysia, and offer the Shariah-compliant investment capabilities throughout the Amova Asset Management Group, strengthening collaboration among group companies.
Stefanie Drews, President and CEO, Amova AM commented, “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 this follows so soon after our global rebrand this year. By integrating AHAM Capital’s local expertise and Shariah investment capabilities with Amova AM’s global scale and innovation, we will deliver unparalleled solutions to the clients we serve and accelerate growth across public, private and Islamic investment segments. This strategic move underscores our ambition to lead in Asia and expand 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 deliver 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.”
