MALAYSIA: AFFIN Bank has completed its acquisition of a 100% equity interest in Pheim Asset Management for RM50 million (US$12.64 million) in cash, following receipt of all required regulatory approvals.
Pheim AM, established in 1993, is engaged in asset management through its subsidiaries Pheim Islamic Asset Management and Pheim Unit Trusts, providing Islamic asset management and unit trust services respectively. As at the 31st March 2026, the group managed approximately RM832.8 million (US$210.53 million) in AuM and advisory across institutional, corporate and retail clients.
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