First Asset Management, a subsidiary of FirstHoldCo Plc has recorded a significant milestone as its rating was upgraded to ‘AA’ from ‘AA-’ by DataPro.
According to analysts, the upgrade ratings show the company’s strong fundamentals and sustained resilience in Nigeria’s Asset management landscape.
The rating upgrade, issued in DataPro’s latest rating report, underscores First Asset Management’s diversified income base, high-quality investment portfolio, and experienced team, all of which continue to support the firm’s long-term stability, sound governance framework, and consistent performance.
The improved rating highlights the organisation’s ability to maintain strong operational fundamentals while effectively navigating market cycles.
It further reflects First Asset Management’s disciplined investment philosophy, prudent risk management practices, and commitment to delivering value-driven solutions to its clients.
Speaking on the upgrade, Ike Onyia, managing Director/CEO of First Asset Management, stated,
“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. has 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.
According to Agusto & Co., the upgraded rating reflects the fund’s consistent low exposure to interest rates and liquidity risks, as well as the fund manager’s commendable professionalism and prudent investment approach.
The rating affirms First Asset Money Market Fund’s position as a formidable investment 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, experienced investment professionals, and a growing 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, with extensive experience providing independent assessments across multiple sectors. Their ratings are widely accepted as benchmarks for evaluating financial strength, risk management, and business sustainability.
First Asset Management is a leading Nigerian investment manager within the FirstHoldCo Group. The firm has evolved into a full‑service investment platform, offering integrated wealth and portfolio solutions across the Group.
