AHAM Capital is confident of achieving its AUA target of RM100bil in the next three years as it strengthens its wealth management capabilities including alternatives and private market offerings, says MD Teng Chee Wai.
PETALING JAYA: Affin Hwang Asset Management Bhd (Affin Hwang AM) has successfully rebranded to Asset Management Bhd (AHAM Capital) and is targeting assets under administration (AUA) of RM100bil in the next three years.
According to AHAM Capital managing director Datuk Teng Chee Wai, as at Oct 31, the company grew its AUA exponentially to about RM75bil, from just RM20bil when it started operations in 2001.
Speaking during the company’s rebranding event, Teng said AHAM Capital is confident of achieving its AUA target of RM100bil in the next three years as it strengthens its wealth management capabilities including alternatives and private market offerings.
“We hope that the slowdown expected in the capital markets next year will not be a sharp one. We will need to make adjustments and remain agile.
“We will also harness innovation to support the development of digital-focused solutions that will democratise access to investment products for all clientele segments,” Teng added.
The rebranding exercise, including a new corporate name and logo, would strategically position the company for its next phase of growth.
Teng said the new brand identity marks the start of a new and exciting journey for the company and its clients.
“Anchored by the same core values and entrepreneurial spirit since our founding in 2001, we have continuously grown from strength to strength over the years alongside our clients who have placed their hard-earned trust with us,” he added.
On digitalisation, Teng said the company has invested about RM50mil over the past five years and has allocated about 5% of its revenue for digital investment.
“Currently, 70% of our transactions are done through digital technology with an even bigger volume since we embarked on digitalisation in 2018.
“Alongside our new shareholder CVC Capital Partners, which came on board in July 2022, as well as Nikko Asset Management, which have stood by us, we will continue to chart new frontiers in wealth to empower investors in a changing financial landscape,” he said.
Leveraging on CVC Capital Partners’ established network in South-East Asia, AHAM Capital is eyeing for regional expansion next year.
According to Teng, the region has strong growth potential in the coming years.
“AHAM Capital will work closely with CVC Partners to continue driving growth of its wealth management business and devise plans for expansion into key markets across South-East Asia.”
On July 29, CVC Capital Partners acquired a 68.35% stake in Affin Hwang AM for RM1.54bil.
Upon completion of the acquisition, Affin Hwang AM, or now known as AHAM Capital, ceased to be a subsidiary of Affin Hwang Investment Bank.
