Amova Asset Management Expands Asian Footprint with Strategic Acquisition
Amova Asset Management Co., Ltd., formerly known as Nikko Asset Management Co., Ltd., has taken a significant step forward in its global expansion strategy. In a recent development, Amova AM has entered into a conditional share purchase agreement to acquire a controlling stake in AHAM Asset Management Berhad, a leading asset manager in Malaysia. This strategic move marks a pivotal moment in Amova AM's journey to connect Asia with global markets.
The acquisition involves Amova AM increasing its ownership from 20% to 97.7% in AHAM Capital, subject to regulatory approvals and customary closing conditions. AHAM Capital, established in 2001, has achieved remarkable success, surpassing RM100 billion in assets under management (AUM) as of November 2025. This achievement is a testament to their strong client base, which includes retail, mass affluent investors, corporates, government-linked companies, and institutional clients.
Stefanie Drews, President and CEO of Amova AM, expressed her enthusiasm about this transformative acquisition. She stated, '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. 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.'
Dato' Teng Chee Wai, Managing Director of AHAM Capital, shared his commitment to the integration process, saying, 'Amova AM has been a longstanding and trusted partner since 2011. We remain focused on 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 dedicated to delivering long-term value for our clients and partners who place their trust in us.'
This strategic acquisition highlights Amova Asset Management's ambition to lead in Asia while expanding its global reach. By combining AHAM Capital's local expertise and Islamic fund management capabilities with Amova AM's global presence and innovation, the company aims to provide tailored solutions for its diverse client base, fostering growth in various investment segments.
