First Asset Management Limited, a subsidiary of FirstHoldCo Plc, has strengthened its standing in Nigeria’s asset management sector following a ratings upgrade by DataPro.
DataPro raised the company’s long-term rating to ‘AA’ from ‘AA-’, citing robust fundamentals and the firm’s ability to remain resilient in a dynamic operating environment. Analysts noted that the improved rating reflects First Asset Management’s diversified revenue streams, strong investment portfolio, and seasoned management team.
In its latest rating report, DataPro highlighted the company’s sound governance structure, consistent performance, and capacity to sustain operational strength while successfully navigating market fluctuations. The agency also pointed to the firm’s disciplined investment strategy, effective risk controls, and commitment to delivering long-term value to clients.
Commenting on the development, Ike Onyia, Managing Director and Chief Executive Officer of First Asset Management, said the upgrade validates the organisation’s investment expertise and governance standards.
“We welcome DataPro’s decision to upgrade our rating to ‘AA’. The recognition reflects the depth of our investment capabilities and the consistency of our risk management and governance practices. Our focus remains on sustaining strong performance and delivering dependable investment outcomes for our clients,” Onyia stated.
In a related update, Agusto & Co. also upgraded the First Asset Money Market Fund to ‘Aa-(f)’ from ‘A+(f)’, further underscoring the strength of First Asset Management’s product portfolio.
Agusto & Co. attributed the improved fund rating to its low exposure to interest rate and liquidity risks, as well as the fund manager’s prudent investment style and professional management approach. The upgrade reinforces the fund’s appeal as a reliable option for capital preservation and stable income generation.
First Asset Management continues to maintain a solid position within Nigeria’s asset management industry, supported by experienced investment professionals, a disciplined investment framework, and an expanding range of products tailored to both retail and institutional investors.
DataPro and Agusto & Co. are widely regarded as leading Nigerian rating agencies, providing independent assessments that serve as benchmarks for financial strength, risk management, and sustainability across various sectors.
First Asset Management operates as a core investment arm within the FirstHoldCo Group, offering integrated wealth management and portfolio solutions through a comprehensive, full-service investment platform.
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