Amova Asset Management Co., Ltd (Amova AM) has officially completed its acquisition of AHAM Asset Management Berhad (AHAM Capital), cementation of its position as the controlling shareholder of the Malaysian asset manager.
Amova AM, formerly known as Nikko Asset Management Co., Ltd, expanded its equity stake in AHAM Capital significantly from 20.0% to 97.675% following the transaction.
The acquisition involved purchasing outstanding shares from several key stakeholders, including Starlight Asset Sdn. Bhd. (68.35%), Lembaga Tabung Angkatan Tentera (LTAT) (7%), and Starlight Management Company (Jersey) Limited (2.325%).
AHAM Capital is prominently known as the manager of the TradePlus exchange-traded funds (ETFs) currently listed on the main market of Bursa Malaysia. These funds include the TradePlus Shariah Gold Tracker and the TradePlus S&P New China Tracker.
In a statement accompanying the announcement, the group assured investors that the change in corporate ownership will not affect existing funds. There will be no disruptions or changes to the daily trading and ongoing operations of the TradePlus ETFs following the completion of this acquisition.
