MALACCA – Affin Hwang Asset Management Berhad (formerly known as Hwang Investment Management Berhad) (“Affin Hwang AM” or the “Company”), opened their seventh sales office in Malacca today as part of the Company’s long-term network expansion planning to meet the increasing demand for asset and wealth management products and services, especially from the high net worth individuals and government sector.
The opening was officiated by YB Datuk Haji Amiruddin Haji Yusof, Malacca State Deputy EXCO for Company Affairs, Human Resources & NGO Committee and Senior Management of Affin Hwang AM.
The new sales office, which is located at 584 Jalan Merdeka, Taman Melaka Raya, Melaka will give the local community an easy access to a comprehensive range of conventional and Shariah-compliant investment products and services such as unit trust funds, wholesale funds, structured investments, private retirement schemes as well as the newly launched wealth protection and wealth distribution services.
“Our aim is to meet the needs of the locals by offering competitive investment solutions that would help them to create wealth as well as building retirement funds through our fund management services. With the new branch, our clients can look forward to better engagement and personalised advice based on their unique needs,” said Teng Chee Wai, the Managing Director of Affin Hwang AM.
In addition, Teng believes that the new sales office would reinforce customer segmentation, especially for the Company’s high net worth clients, who are currently being served by their Kuala Lumpur and Johor Bahru branches.
To date, the assets under management for Malacca alone stand at RM200 million. The Company is confident that they can grow the assets to a billion over five to six years. Nationally, Affin Hwang AM manages a total of RM30 billion assets under management. Their target is to grow the total AUM to RM50 billion in five years or by 2018.
Teng added, “I believe we have the right products and right people to grow the business. Personally I believe in focus and doing a few things right, rather than to spreading ourselves thin running after every opportunity that presents itself. The business should be successful and profitable to ensure we can attract and retain the best.”
As at 30 September 2014, Affin Hwang AM manages over 450 private mandates (individuals and corporates) and has a stable of 76 funds (of which 40 are unit trust funds and 36 are wholesale funds) for investments of over 55,000 clients. Additionally, the Company also offers four (4) Private Retirement Schemes funds to cater for individuals retirement needs
Affin Hwang AM recently announced its collaboration with AXA-AFFIN Life Insurance Berhad and Pacific Trustees Berhad to launch its Wealth Protection & Wealth Distribution service. The Wealth Protection & Distribution services is an added service which Affin Hwang AM is offerings to complement its wealth creation services, which Affin Hwang AM currently has in place. The new service brings the three important wealth management aspects; wealth creation, wealth protection and wealth distribution under one roof. This service is only applicable to investors who invest in Affin Hwang AM’s products and services.
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Chong Chyi Ming | firstname.lastname@example.org | +603 2116 6000