FCMB Asset Management gets rating upgrade to A(NG) from GCR Ratings
FCMB Asset Management Limited (FCMBAM) has received an upgrade to its national scale long‑term and short‑term issuer ratings of A(NG) and A1(NG) from A-(NG) and A2(NG) by GCR Ratings, with a stable outlook. The rating agency cited the firm’s decade‑long track record, strong brand franchise, diversified product suite, robust distribution network, consistent earnings growth (up 30%), operating cash flow growth (up 13%), and an unleveraged balance sheet. Liquidity improved to 5.0x sources‑vs‑uses from 3.6x a year earlier, and EBITDA margin rose above 58%. GCR notes FCMBAM ranks among Nigeria’s top five asset managers, holding roughly a 5% share of a fragmented market as of December 2025. The firm manages funds such as the FCMBAM Money Market Fund, Debt Fund, Equity Fund, USD Bond Fund, and FCMB‑TLG Private Debt Fund, plus discretionary and non‑discretionary mandates for high‑net‑worth and institutional clients. Established in 1997 and regulated by Nigeria’s Securities and Exchange Commission, FCMBAM is a member of FCMB Group Plc. CEO James Ilori said the upgrade validates a disciplined strategy of building a reliable, rigorously governed investment franchise that earns trust across market cycles and aims to lead the industry ahead of regulatory changes, digital transformation, and client outcomes. Investors may consider what this strengthened rating means for the risk‑return profile of FCMBAM‑managed funds.