French asset manager Amundi has purchased the fixed income business of Malaysia-based KAF Fund Management through Amundi Malaysia, its wholly owned subsidiary.
With more than US$1.2 billion in AUM, KAF Fund Management is an institutional fixed income specialist as well as a retail fund manager.
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Following the acquisition, KAF Fund Management’s fixed income business will be controlled by Amundi Malaysia.
As part of the acquisition, Amundi Malaysia managing director Roslina Abdul Rahman will be appointed as managing director of the enlarged company, reporting to Jenny Sofian, CEO of Amundi in Southeast Asia and Australia.
In addition, KAF Fund Management former CEO Thariq Ahmad will become senior advisor and head of fixed income strategies of Amundi Malaysia.
Pascal Blanqué, deputy CEO and chief investment officer of Amundi, said: "The acquisition of KAF Fund Management’s fixed income business is further evidence of Amundi’s commitment to Malaysia and Southeast Asia.
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By GlobalData"It will enhance the range and the quality of our fixed income offerings to our clients globally, thanks to the expertise of the KAF Fund Management team, which is highly complementary to our existing expertise."
The purchase of the fixed income business will expand Amundi’s range of product offerings in Malaysia.
Through this acquisition, Amundi aims to expand its expertise in global and local sukuk management to include local conventional fixed income capabilities.
