CardinalStone Asset Management Limited has received top ratings from three renowned agencies, reaffirming its position as a top player in Nigeria’s asset management industry.

According to a statement from the licensed fund and portfolio manager, it received top ratings from GCR Rating, Agusto & Co. and DataPro.

CAML received an ‘A’ rating from  Agusto & Co., highlighting its robust research capabilities, structured decision-making processes, and sound risk management practices.

Data Pro awarded a Long-Term Rating of A-(IM) with a stable outlook, underscoring the company’s low-risk profile and strong financial health and GCR Ratings assigned an initial Management Quality Rating of MQ2(NG) and a Nigerian Management Quality Rating of A(NG)(mq), reflecting confidence in the firm’s operational practices, governance, and risk management.

Commenting on the ratings, the Managing Director of CAML, Oluwaseyi Osunlalu, said, “These ratings reflect the hard work and dedication of our team in delivering top-notch asset management services. They affirm our commitment to excellence, innovation, and driving value for our 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.”

As of the first quarter of 2024, CAML’s Assets Under Management grew by 46.2 per cent compared to its value in December 2023, placing the firm among the top 15 largest asset managers in Nigeria as tracked by Agusto & Co.

All three rating agencies commended CAML for its stable leadership team and sound governance framework, which underpins its operational efficiency and ability to navigate market dynamics.