Abuja, Nigeria [22 September 2023]: — Norrenberger (“the Company”), an industry leading, integrated financial services Group recently received upgraded ratings from Agusto & Co Limited to ‘BBB(IM)’ and Data Pro Limited to ‘A-’ respectively. These prestigious credit rating companies in their 2023 Investment Manager Rating exercise determined Norrenberger’s rating as higher than the previous report, following the remarkable increase in its Assets under management, streamlined operations, improved risk surveillance tools, team stability, and strong research and experienced decision-making committees.
The upgrades reflect Norrenberger’s continued commitment to delivering exceptional financial products and services and its unwavering dedication to client satisfaction. Referencing the performance of Norrenberger in 2022, the reports stated that the Company’s gross earnings grew by 63% from the prior year 2021. Furthermore, by June 30, 2023, the Company reported Assets under Management (AuM) of approximately ₦58 billion, indicating a remarkable 132% increase from ₦25 billion reported in the prior review period. This substantial growth demonstrates Norrenberger’s ability to consistently deliver value to its clients while effectively managing their investments.
Led by qualified professionals, the Company provides portfolio management and advisory services to high-net-worth individuals, institutional clients and the mass affluent. Its investment universe comprises of fixed-income securities, money market securities, equities and Eurobonds. Prior to this review, Norrenberger launched the Norrenberger Dollar Fund and the Norren Kickstart Account, both products have been well received in the market, characterized by increasing demand and growing market share.
The Business Head, Asset Management, Abigail Utomi expressed her excitement about these elevated ratings saying, “This is a great achievement for us; it reflects our growing presence in the asset management business, streamlined focus on fund and portfolio management activities, enhancements in the tools for risk surveillance, and stability within our core teams. Our unrelenting efforts to maintain the highest standards of professionalism and transparency have resulted in this well-deserved recognition. I could not be prouder.”
In addition, the Managing Director/CEO, Anthony Edeh, commented on this achievement. “We are truly honoured by these upgraded ratings from Augusto & Co and Data Pro alike. They reaffirm our dedication to our clients and our commitment to deepening our market influence. We own this market, and we are intentional about proving it,“ he said.
These ratings are valid for 12 calendar months, in line with international best practice.
Norrenberger remains committed to its core values. This combined achievement provides further assurance to clients and stakeholders that the Company continues to operate at the highest levels of professionalism, committing to its strategic goal.
Founded in 2017, Norrenberger is a financial services group that provides bespoke financial solutions that add value to our individual and institutional clients. With a team of experienced professionals, Norrenberger offers a comprehensive range of services, including asset management, private equity, development finance, investment banking, insurance, pensions, securities trading, fintech and digital banking. We are guided by our mission to positively unlock the opportunities in society for our clients and stakeholders. By 2025, we hope to have delivered at least one financial solution to every household.
Our component companies are licensed, authorised and regulated by either the Securities & Exchange Commission (SEC), Central Bank of Nigeria (CBN), Nigerian Exchange Limited (NGX), National Pension Commission (PenCom) or National Insurance Commission (NAICOM).
