AIIMAN

What AIIMAN does

AIIMAN Asset Management Sdn. Bhd. is a Kuala Lumpur-based Shariah-compliant investment management firm and the wholly owned Islamic investment arm of AHAM Asset Management Berhad (AHAM Capital). Licensed by the Securities Commission Malaysia since 2008 to conduct Islamic fund management and granted the Unit Trust Management Company license in December 2018, AIIMAN operates an end-to-end Shariah platform supervised by an internationally recognized Shariah Board and advised by Amanie Advisors. The firm manages RM34.50 billion in assets under administration as of 30 June 2026 across 23 funds spanning Shariah-compliant equities, sukuk (fixed income), mixed assets, fund-of-funds, PRS, and ETF wrappers, covering local, regional, and global markets.

AIIMAN generates revenue through management fees on retail unit trust funds (typically up to 1.80% p.a. of NAV with minimum investments from RM1,000), wholesale fund fees for high net worth and corporate investors, and discretionary portfolio management mandates. Its product suite includes the AIIMAN Government Sukuk Fund, AIIMAN Income Extra Fund, AIIMAN Smart Invest Portfolio – Growth, and AIIMAN Global Equity Fund. Distribution combines direct sales personnel, participating banks and agencies, the TradePlus digital trading platform, an auto-debit SmartSave Plan, and a flagship partnership with Bank Islam Malaysia Berhad.

The firm serves pension funds, institutional and corporate investors, high net worth individuals, and mass affluent retail clients. As of 30 June 2026, AIIMAN's parent AHAM Capital is 97.7% owned by Amova Asset Management (formerly Nikko Asset Management, part of Sumitomo Mitsui Trust Group), following completion of an acquisition that increased Amova's stake from 20%. In FY2025, AIIMAN reported revenue of RM48.69 million and profit after tax and zakat of RM22.9 million, reflecting the operating leverage of a mature asset management franchise with RM107 billion group-level assets under administration.

Name

AIIMAN

Legal name

AIIMAN Asset Management Sdn. Bhd.

Website

http://www.aiiman.com

Company type

Private

Founded year

2001

Operating status

Operating

Headcount range

11–50 employees

Short description

AIIMAN Asset Management is a Malaysia-based Shariah-compliant investment firm managing RM34.5 billion across 23 funds for pension funds, institutions, corporates, HNW individuals, and mass affluent retail investors, operating as the wholly owned Islamic arm of AHAM Capital.

Ownership category

akta.pro rank

Product category

Islamic Asset Management

NAICS

Portfolio Management and Investment Advice (52394), Open-End Investment Funds (525910)

SIC

Investment Advice (6282)

akta.pro primary industry

Islamic Investment Banking & Capital Markets Services (FSABAGAG)

akta.pro secondary industry

Shariah Governance, Compliance & Advisory (Shariah Boards, Audit, Fatwa) (FSABAGAJ)

Keywords

• Shariah-compliant asset management
• Islamic investment funds
• Portfolio management services
• Sukuk fund management
• Wealth management solutions

Headquarters

HQ city

Kuala Lumpur

HQ country

Malaysia

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Unit Trust Fund Management: Management fees from retail unit trust funds including AIIMAN Smart Invest Portfolio - Growth and AIIMAN Global Equity Fund. Minimum initial investment starting from RM 1,000.
2. Wholesale Fund Management: Fees from wholesale funds for high net worth individuals and corporate investors, offering exposure to sophisticated asset classes and structures.
3. Portfolio Management Services: Discretionary mandate and white-labelled fund management services for sophisticated investors, delivering tailor-made portfolios with agreed investment strategies.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels9 records

Core offering

AIIMAN is an Islamic asset management firm that manages Shariah-compliant investment portfolios for pension funds, institutions, corporates, high net worth individuals, and mass affluent investors. It offers unit trust (retail) funds, wholesale funds, and discretionary portfolio management services across equities, sukuk, and mixed assets spanning local, regional, and global markets. The firm operates through an end-to-end Shariah platform supervised by an internationally recognized Shariah Board.

Product overview

AIIMAN offers a comprehensive suite of Shariah-compliant investment products including unit trust funds (retail), wholesale funds, portfolio management services, and private retirement schemes. The product portfolio spans fixed income (sukuk), equity (Shariah-compliant), and mixed assets across local, regional, and global markets. Core products include the AIIMAN Government Sukuk Fund, AIIMAN Income Extra Fund (fixed income wholesale funds), AIIMAN Smart Invest Portfolio – Growth (mixed assets fund of funds), and AIIMAN Global Equity Fund. Services are delivered through an end-to-end Shariah platform with Shariah screening, and investments are supervised by an internationally recognized Shariah Board. The company also provides portfolio management services for sophisticated investors with discretionary mandates.

Differentiator

Problem solved

Functional benefit

Products and services

• AIIMAN Government Sukuk Fund A Shariah-compliant wholesale fixed income fund investing in government sukuk instruments, designed for income generation with very low risk profile and no sales charge, management fee, trustee fee, transfer fee, switching fee, repurchase charge, or performance fee.
• AIIMAN Income Extra Fund A Shariah-compliant wholesale fixed income fund designed for income generation with a very low risk profile. Annual Management Fee up to 0.50% per annum of NAV and Annual Trustee/Custodian Fee up to 0.035% per annum of NAV.
• AIIMAN Smart Invest Portfolio – Growth A Mixed Assets fund of funds offering Shariah-compliant retail investment solutions across multiple asset classes with growth objectives. Class A has no sales charge with Annual Management Fee up to 1.80% per annum of NAV; Class B has a sales charge up to 3.00% with no annual management fee. Minimum initial investment starts from RM 1,000.
• AIIMAN Global Equity Fund An equity (Shariah-compliant) retail fund providing exposure to global equities with currency options (MYR, MYR Hedged, USD). Minimum initial investment starts from RM 1,000.
• AIIMAN Asia Pacific (ex-Japan) Dividend Fund AIIMAN's first retail fund, an Asia Pacific ex-Japan equity (Shariah-compliant) dividend-focused fund launched on 21 February 2019 for individual investors seeking regional Shariah-compliant equity exposure with dividend income.
• Portfolio Management Services Discretionary mandate and white-labelled fund management services for sophisticated investors, delivering tailor-made portfolios with agreed investment strategies, exposure to sophisticated asset classes and structures. Targeted at high net worth individuals and corporate investors.

Quantifiable outcome

• AIIMAN has grown its asset under administration to over RM34.50 billion as of 30 June 2026
• +2 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Eight partnerships are on record, tiered core.

• Bank Islam Malaysia BerhadcoreChannel Partner/ Reseller/ Distributor · 21 July 2023Bank Islam was selected as AIIMAN's first distribution partner to broaden access to Shariah wealth offerings, marking a strategic channel partnership to expand distribution reach for AIIMAN's Shariah-compliant investment products.
• AHAM Asset Management Berhad (AHAM Capital)coreStrategic or Co-development PartnerAIIMAN is the wholly owned Shariah investment arm of AHAM Capital. AHAM Capital provides delegated operations including fund operations, fund accounting, fund valuation, client reporting, HR, IT, dealing, and registrar/transfer agency services through service level agreements.
• TMF Trustees Malaysia BerhadcoreOthersTMF Trustees Malaysia Berhad acts as trustee for AIIMAN's funds. Part of TMF Group with 125 offices in more than 83 jurisdictions worldwide.
• AmanahrRaya Trustees BerhadcoreOthersART acts as trustee for AIIMAN funds. Subsidiary of Amanah Raya Berhad wholly owned by the government of Malaysia with over 50 years of trustee business experience.
• HSBC (Malaysia) Trustee BerhadcoreOthersHSBC acts as trustee for AIIMAN funds. Company incorporated in Malaysia since 1937 with experience in administration of trusts since 1993.
• Deutsche Trustees Malaysia BerhadcoreOthersDeutsche Trustees Malaysia Berhad acts as trustee for AIIMAN funds. Member of Deutsche Bank Group providing commercial and investment banking, retail banking, and asset/wealth management products.
• CIMB Islamic Trustee BerhadcoreOthersCIMB Islamic Trustee Berhad undertakes accounting and valuation function for AIIMAN funds. Incorporated on 19 January 1988 and registered under Trust Companies Act 1949, providing trustee services since 1990.
• Amanie Advisors Sdn BhdcoreStrategic or Co-development PartnerAmanie Advisors provides local and international Shariah consultancy and advisory services to AIIMAN. Registered Shariah adviser with SC, providing Shariah advisory, consultancy, training, research and development for Islamic financial services. Meets with AIIMAN quarterly to address Shariah matters and reviews investments monthly.

Scale indicators5 records

Recent moves12 records

Expansion highlights5 records

Direct peers

• BIMB Investment Management Berhad: The dedicated Islamic asset management arm of Bank Islam Malaysia, BIMB Investment is one of the largest pure-play Shariah asset managers in Malaysia. It is the most direct competitor to AIIMAN in the Malaysian Islamic fund management space, contesting for similar institutional, retail, and EPF allocations.
• Maybank Islamic Asset Management: The Islamic fund management subsidiary of Malaysia's largest banking group, Maybank Islamic Asset Management offers a broad range of Shariah-compliant unit trust and wholesale funds. It is a direct peer to AIIMAN, with significant scale advantages from Maybank's banking distribution network.
• CIMB Islamic Asset Management: The Shariah-focused arm of CIMB Group, one of ASEAN's largest banking groups. CIMB Islamic Asset Management competes head-to-head with AIIMAN across Shariah equity, sukuk, and mixed-asset funds, leveraging CIMB's regional banking distribution.
• RHB Asset Management: RHB Asset Management operates a meaningful Islamic fund suite within the broader RHB Banking Group. It is comparable to AIIMAN as a Malaysian asset manager serving institutional and retail Shariah investors, with similar diversified product offerings.
• Public Mutual Berhad: Malaysia's largest unit trust company by AUM, Public Mutual operates a sizeable Shariah-compliant fund family alongside its conventional funds. It is a close comparable to AIIMAN in retail unit trust distribution and Malaysian market leadership.
• Eastspring Investments Berhad: The Malaysian arm of Prudential plc's asset management business, Eastspring offers both conventional and Shariah-compliant funds. It is a peer to AIIMAN in Malaysian multi-channel asset management, particularly in institutional mandates and UIT funds.
• Kenanga Investors Berhad: Part of K&N Kenanga Holdings, Kenanga Investors is a Malaysian asset manager with a Shariah fund family. It competes with AIIMAN in unit trust and wholesale Shariah offerings, with similar retail brokerage-tied distribution.

Broad incumbents

• Affin Hwang Asset Management (AHAM Capital): AIIMAN's direct parent AHAM Capital, which manages RM107 billion in assets across both conventional and Shariah mandates. AHAM Capital is a broader incumbent that houses AIIMAN as its Shariah-specialised subsidiary, with overlapping fund management capabilities and institutional client relationships.

Emerging players

• Amana Mutual Funds Trust: A US-based Shariah-compliant mutual fund family managed by Saturna Capital. Amana is a niche Shariah equity and income fund specialist, comparable to AIIMAN in its Shariah-only institutional manager positioning, though focused on US/global markets rather than Malaysia.
• Saturna Capital: A US-based asset manager focused on Shariah-compliant investing through the Amana Funds. Saturna is a comparable specialist Islamic asset manager in its Shariah-only mandate and screening-led philosophy, though it serves a different geographic market.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/AIIMAN.AM
• Instagraminstagram.com/aiiman.am

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about AIIMAN