Milestone advances growth ambitions while strengthening investor access to broader regional and global investment capabilities

KUALA LUMPUR – Amova Asset Management Co., Ltd. (formerly known as Nikko Asset Management Co., Ltd., hereinafter “Amova AM”) today announced the successful completion of its acquisition (the “Acquitision”) of an additional 77.675% equity interest in AHAM Asset Management Berhad (“AHAM Capital”) from CVC Capital Partners (68.35%), Lembaga Tabung Angkatan Tentera (7%) and AHAM Capital’s key management personnel (2.325%), increasing its ownership from 20% to 97.675% and making AHAM Capital a consolidated subsidiary. In due course, Amova AM intends to acquire the remaining 2.325% of AHAM Capital shares, currently held by AHAM Capital’s management personnel. 

The completion of the Acquisition marks a significant milestone in Amova AM’s strategy to strengthen its presence across Asia. Both organisations are well positioned for the next phase of growth, combining AHAM Capital’s strong local presence with Amova AM’s global scale and cross-border investment capabilities.

AHAM Capital is among Malaysia’s top two asset managers, with approximately RM103.4 billion in assets under administration, including its subsidiaries, as at 31 March 2026. AHAM Capital wholly owns AIIMAN, a leading Shariah-compliant investment company, and holds a strategic stake in Versa Asia Sdn. Bhd. (“Versa”), a fast-growing digital platform in Malaysia.

Building on a long-standing partnership spanning more than 15 years, the transition of AHAM Capital into a consolidated subsidiary of Amova AM paves the way for closer collaboration and continued growth for both organisations. By leveraging AHAM Capital’s established market position, diversified client base and proven distribution capabilities, Amova AM is well positioned to further expand its offering of progressive solutions across institutional, intermediary, high-net-worth and retail segments in Malaysia and Southeast Asia. The firms will adopt a co-branding strategy in Malaysia.

Furthermore, through AIIMAN, Amova AM will strengthen its participation in the Shariah-compliant investment market and develop offerings tailored to local client needs, supporting a segment that represents a significant long-term growth opportunity.

The Acquisition also brings AHAM Capital’s experienced investment, distribution and operations teams fully into the Amova AM Group, further strengthening the Group’s capabilities through deep market knowledge and longstanding client relationships.

AHAM Capital will continue to operate under the stewardship of its existing management and leadership team. Clients can expect a seamless transition, supported by the same trusted teams, with enhanced access to a broader range of solutions and Amova AM’s regional network.

Commenting on the Acquisition, Stefanie Drews, President and CEO of Amova AM, said, “Asia is a key focus of our Global Growth plan, and we are delighted to welcome AHAM Capital as a consolidated subsidiary. With the completion of this transaction, we strengthen our capabilities in Malaysia and Southeast Asia, allowing us to work more closely with AHAM Capital while continuing to improve the offering of our products and services globally.”

Dato’ Teng Chee Wai, Managing Director of AHAM Capital, said, “This is a significant development for AHAM Capital as we enter our next phase of growth with Amova AM. With their support, we are well positioned to expand our offerings and better serve our clients, while providing greater access to regional and global opportunities and continuing to deliver the same level of service and investment discipline our clients expect.”

Already one of Asia’s leading asset managers with a global footprint, Amova AM will continue to expand its presence through strategic partnerships and growth opportunities across the region, including through the Acquisition of AHAM Capital. 

Background of Acquisition

On 23 December 2025, Amova AM announced that it had agreed to acquire all remaining shares in AHAM Capital from CVC Capital Partners and other shareholders. 

The Acquisition received approval from the Securities Commission Malaysia and the Financial Services Agency of Japan. Following completion on 30 June 2026, Amova AM increased its ownership in AHAM Capital to 97.675%, with the remaining 2.325% stake held by its management team. 

Amova Asset Management is a global asset manager headquartered in Japan and a member of the Sumitomo Mitsui Trust Group. Formerly known as Nikko Asset Management, the firm was renamed Amova Asset Management on 1 September 2025.

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