First Asset Management earns upgraded ratings from DataPro and Agusto & Co

First Asset Management, a subsidiary of FirstHoldCo Plc, has secured upgraded ratings from two leading Nigerian rating agencies, underscoring its growing strength and resilience in the country’s asset management industry.

DataPro has raised the firm’s long-term rating to ‘AA’ from ‘AA-’, citing strong fundamentals and sustained performance across market cycles. The upgrade, contained in DataPro’s latest rating report, reflects First Asset Management’s diversified income streams, high-quality investment portfolio, and experienced management team, all of which continue to underpin its stability, sound governance, and consistent results.

The improved rating also highlights the company’s ability to maintain robust operational fundamentals while navigating changing market conditions. According to DataPro, the upgrade mirrors the firm’s disciplined investment philosophy, prudent risk management practices and commitment to delivering long-term value to clients.

Reacting to the development, Ike Onyia, Managing Director and Chief Executive Officer of First Asset Management, said “We are pleased with DataPro’s decision to upgrade our rating to ‘AA’. This recognition affirms the depth of our investment expertise, and the consistency of our governance and risk management processes. We remain focused on sustaining strong performance while delivering reliable investment outcomes for our clients.”

In a related assessment, Agusto & Co. upgraded the First Asset Money Market Fund to ‘Aa-(f)’ from ‘A+(f)’, further strengthening the firm’s product credentials. The rating agency said the upgrade reflects the fund’s consistently low exposure to interest rate and liquidity risks, as well as the fund manager’s professionalism and prudent investment approach.

Agusto & Co. noted that the rating affirms the First Asset Money Market Fund’s position as a strong vehicle for capital preservation and steady income generation.

First Asset Management continues to maintain a solid standing within Nigeria’s asset management landscape, supported by its disciplined investment framework, seasoned investment professionals, and an expanding range of products tailored to the evolving needs of retail and institutional investors.

DataPro and Agusto & Co. are widely regarded as leading authorities in ratings and investment research in Nigeria, providing independent assessments that serve as benchmarks for financial strength, risk management, and business sustainability.

First Asset Management is a leading Nigerian investment manager within the FirstHoldCo Group. The firm operates as a full-service investment platform, offering integrated wealth and portfolio solutions across the Group. Its investment strategies span fixed income, equities, and alternatives, as well as passive and quantitative products, managed in multiple currencies for individual, intermediary, and institutional clients.

With over 15 years of experience, the company has built a track record of long-term value creation, combining deep research, strong expertise and modern technology to deliver disciplined investment management through varying market conditions.