CardinalStone Asset Management Limited (CAM) has received high ratings from Agusto & Co., Data Pro and GCR ratings, reaffirming its position as a top player in Nigeria’s asset management industry.
Agusto & Co. awarded CAM an ‘A’ rating, citing the firm’s robust research capabilities, structured decision-making processes and effective risk management practices, while Data Pro assigned it a Long-Term Rating of A-(IM) with a stable outlook, reflecting the company’s strong financial health and low-risk profile.
Also, GCR Ratings gave CAM an initial Management Quality Rating of MQ2 (NG) and a Nigerian Management Quality Rating of A(NG)(mq), highlighting confidence in the company’s governance, operational efficiency and risk management framework.
The ratings agencies stated that these accolades underscore CAM’s operational resilience, strategic excellence and dedication to delivering value to clients.
The firm’s assets under management (AUM) grew by an impressive 46.2 per cent as of March 2024, compared to December 2023, placing it among the top 15 largest asset managers in Nigeria, according to Agusto & Co.
The rating agencies also praised CAM’s stable leadership team and sound governance framework, which enabled the firm to navigate Nigeria’s complex financial landscape effectively.
They said the company’s strong financial performance is driven by diversified revenue streams, contributing to significant year-on-year growth in gross earnings.
The Managing Director of CMA, Oluwaseyi Osunlalu, said the company continues to provide diversified investment solutions spanning equities, fixed income and alternative investments.
He announced the company’s plans to launch new products, including a balanced fund and an infrastructure fund, to address evolving client needs and expand its offerings.
Commenting on the recognition, Osunlalu said the ratings reflect the hard work and dedication of the team in delivering top-notch asset management services.
He said the ratings also affirm the organisation’s commitment to excellence, innovation and driving value for its clients and stakeholders.
“As we look ahead, we remain focused on sustaining our growth and expanding our offerings to meet the needs of our diverse clientele,” he said.
