First Asset Management, a subsidiary of FirstHoldCo Plc, has achieved a significant milestone as its rating was upgraded from ‘AA-’ to ‘AA’ by DataPro, reflecting the firm’s strong fundamentals and sustained resilience in Nigeria’s asset management landscape.
The rating upgrade, outlined in DataPro’s latest report, highlights First Asset Management’s diversified income streams, high-quality investment portfolio, and experienced team, which together underpin the firm’s long-term stability, sound governance framework, and consistent performance.
The improved rating also underscores the organisation’s ability to maintain robust operational fundamentals while effectively navigating market cycles. It reflects First Asset Management’s disciplined investment philosophy, prudent risk management practices, and commitment to delivering value-driven solutions to clients.
Speaking on the upgrade, Ike Onyia, Managing Director/CEO 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 development, Agusto & Co. upgraded the rating of the First Asset Money Market Fund to ‘Aa-(f)’ from ‘A+(f)’, further reinforcing the strength of First Asset Management’s product offering.
Agusto & Co. stated that the upgraded rating reflects the fund’s consistent low exposure to interest rate and liquidity risks, as well as the fund manager’s professionalism and prudent investment approach. The rating affirms the fund’s position as a reliable vehicle for capital preservation and steady income generation.
First Asset Management continues to maintain a strong position within Nigeria’s asset management industry, supported by its disciplined investment framework, skilled professionals, and an expanding suite of products designed to meet the evolving needs of retail and institutional investors.
DataPro and Agusto & Co. are both recognized leaders in ratings and investment research in Nigeria, providing independent assessments across multiple sectors. Their ratings are widely accepted benchmarks for evaluating financial strength, risk management, and business sustainability.
