Thursday, 8 March 2012

Hwang Investment Mgmt ties up with Nikko, eyes RM20b assets in 5 yrs

KUALA LUMPUR (March 8): Hwang Investment Management Bhd (HwangIM) plans to grow its asset under management (AUM) to RM20 billion in five years despite the uncertain global market and increasingly competitive local landscape.

HwangIM's chief executive officer Teng Chee Wai said on Thursday, the five-year target was to position the company as the leader in managing Asian assets in the local investment industry.

He said HwangIM was partnering Nikko Asset Management Co Ltd (Nikko AM) to achieve its five-year goal.

"Last year was a remarkable year for us. In a market where many were losing assets, we were the only one amongst the top five investment management companies that registered high double digit asset growth at 37%. We ended 2011 at the RM12-billion mark," said Teng.

"Our partnership with Nikko AM can help us to achieve this goal as we are now part of the largest Asia-based regional asset management company, a group that has over US$150 billion in asset size and a global network," added Teng.

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