KUALA LUMPUR: AmInvest will be merging its unit trusts management and funds management companies, AmInvestment Services Bhd (AIS) and AmInvestment Management Sdn Bhd (AIM) under a single entity, AmInvestment Services Bhd, on December 1 this year.
The merger exercise has been approved by the Securities Commission Malaysia. The vesting order has been granted by the High Court of Malaysia for the transfer of AIM’s business to AIS, AmInvest said yesterday.
AmInvest will now comprise two entities — AmInvestment Services Bhd and AmIslamic Funds Management Sdn Bhd (AIFM), which offers and manages institutional mandates and 100 conventional and Islamic investment solutions for unit trusts, private retirement schemes, exchange traded funds and wholesale funds. To date, AmInvest manages approximately over RM38.1 billion of investments, its highest assets under management in 32 years of managing funds across asset classes.
AmInvest which is a unit of AMMB Holdings Bhd, has received a total of 14 awards this year, most recently being the ‘Best Islamic Fund Manager 2014’ for the second consecutive year at the Global Islamic Finance Awards (GIFA) 20141 and ‘Most Outstanding Islamic Fund Product’ for AmIslamic Balanced at the Kuala Lumpur Islamic Finance Forum (KLIFF) Islamic Finance Awards 2014.
Originally published on www.nst.com.my