Amova AM to acquire AHAM Capital stake, expanding Asia footprint

Amova Asset Management Co., Ltd. (formerly Nikko Asset Management Co., Ltd.) has entered into a conditional share purchase to acquire a controlling stake in AHAM Asset Management Berhad (AHAM Capital), lifting ownership from roughly 20% to 97.7% and setting the stage for a full integration subject to regulatory clearances and standard closing conditions. The cross-border nature of the deal underscores Amova’s strategic intent to anchor its Asia-Pacific platform in Malaysia’s growing asset-management scene, leveraging AHAM Capital’s local reach and regulatory licensing to accelerate scale and product development.

AHAM Capital, together with its wholly owned Islamic fund management arm AIIMAN Asset Management Sdn. Bhd., manages assets across a diverse client base including retail, corporate and institutional investors. The group announced that AHAM Capital has surpassed RM100 billion in assets under management as of 30 November 2025, a milestone that positions it among Malaysia’s top three asset managers. The combination with Amova’s global capabilities is expected to expand Shariah-compliant product suites and deepen distribution across Southeast Asia while maintaining AHAM’s client-centric approach and local market knowledge.

Stefanie Drews, President and CEO of Amova AM, framed the acquisition as transformational. She noted that integrating AHAM Capital’s regional identity with Amova’s multi-asset platform will broaden client access to diversified strategies, attract higher-capital adoption in growth markets, and accelerate the deployment of digital and sustainable investing solutions. The move also strengthens Amova’s capacity to serve Islamic finance clients, an area where AHAM’s AIIMAN Asset Management Sdn. Bhd. unit brings substantial differentiated expertise.

On the AHAM Capital side, Dato’ Teng Chee Wai, Managing Director, described the partnership as a milestone that preserves continuity while unlocking enhanced capabilities. AHAM Capital will remain under the stewardship of its existing management team, with the proposed integration designed to preserve client relationships and service levels. The stake sale to Amova Asset Management signals sustained appetite for cross-border expansion in Asia’s asset-management space, while keeping a close eye on Shariah investment mandates and compliance frameworks that many regional clients now demand as standard practice.

Regulatory approvals remain the key gating item, and closing is contingent on customary conditions. If cleared, the tie-up should yield meaningful synergies in product development, distribution, and technology infrastructure, enabling faster time-to-market for new strategies and enhanced risk management capabilities. In the near term, stakeholders will watch for how AHAM’s client base experiences the transition and whether the enlarged platform secures a stronger competitive foothold in Asia’s evolving private markets and Islamic-investment ecosystems.