First Asset Management, a subsidiary of FirstHoldCo Plc, has recorded a significant milestone with the upgrade of its corporate rating to ‘AA’ from ‘AA-’ by independent rating agency DataPro, reflecting the firm’s strong fundamentals and sustained resilience within Nigeria’s asset management industry.
The rating upgrade, disclosed in DataPro’s latest report, highlights First Asset Management’s diversified income base, high-quality investment portfolio, and experienced management team, which continue to support its long-term stability, sound governance framework, and consistent performance.
According to the report, the improved rating underscores the firm’s ability to maintain strong operational fundamentals while effectively navigating market cycles. It also reflects the company’s disciplined investment philosophy, prudent risk management practices, and commitment to delivering value-driven solutions to its clients.
Commenting on the development, the Managing Director and Chief Executive Officer of First Asset Management, Ike Onyia, said the upgrade affirms the depth of the firm’s investment expertise and the consistency of its governance and risk management processes, adding that the company remains focused on sustaining strong performance and delivering reliable investment outcomes for clients.
In a related development, Agusto & Co. upgraded the rating of the First Asset Money Market Fund to ‘Aa-(f)’ from ‘A+(f)’, further reinforcing confidence in First Asset Management’s product offerings.
Agusto & Co. noted that the upgraded rating reflects the fund’s consistently low exposure to interest rate and liquidity risks, as well as the fund manager’s professional and prudent investment approach, positioning the fund as a strong vehicle for capital preservation and steady income generation.
The latest ratings underscore First Asset Management’s strong positioning within Nigeria’s asset management landscape, supported by its disciplined investment framework, experienced professionals, and expanding suite of products designed to meet the evolving needs of retail and institutional investors.
DataPro and Agusto & Co. are widely recognised as leading rating and investment research firms in Nigeria, providing independent assessments that serve as benchmarks for evaluating financial strength, risk management, and business sustainability.
