FSDH Asset Management

What FSDH Asset Management does

FSDH Asset Management Limited is an SEC-registered Nigerian asset management and financial advisory firm, wholly owned by FSDH Holding Company Limited. It originated as the asset management department of FSDH Merchant Bank in 1997 and became a stand-alone entity in 2001, with headquarters in Lagos and branch offices in Abuja and Port Harcourt. As of December 2024, the firm manages ₦192 billion in assets across 5 SEC-registered collective investment schemes and 15 privately managed portfolios, serving individual retail investors (the primary segment, accessible from a ₦5,000 minimum), institutional clients (pension funds, endowment funds, gratuity schemes, corporate treasuries via tailored segregated portfolios), and a Shari'ah-conscious segment via the FSDH Halal Fund.

The product platform comprises open-ended mutual funds — Coral Income Fund (fixed income), Coral Balanced Fund (up to 65% equities), Coral Money Market Fund, FSDH Dollar Fund (USD-denominated Eurobonds), and FSDH Halal Fund — supplemented by structured retail products (Coral Treasury Bill Note, Coral Fixed Income Note), the 2024-launched FSDH Infrastructure Debt Fund (a ₦200 billion close-ended Shelf Programme registered under SEC Rules for Infrastructure Funds), and customized Privately Managed Portfolios. Management and advisory fees range from 1.18% to 3.41% per annum on managed funds, plus bespoke portfolio management fees. Distribution combines direct field sales to HNW and institutional clients, an inside-sales call center, and a self-service digital channel including a proprietary mobile app and client portal.

Investment performance supports the franchise: the Coral Income Fund averaged 9.17% p.a. against an 8.46% 91-day T-bill benchmark from May 2006 to August 2017, and the Coral Balanced Fund ranked among Nigeria's top performers with approximately 67.70% YTD in 2025. Beyond organic growth, FSDH expanded into climate finance in October 2025 by providing a green debt facility as part of Rana Energy's $3 million pre-seed round, the latter's AI-driven solar-plus-storage platform targeting Ghana and Zambia. The firm operates exclusively within Nigeria and is regulated by the SEC as a Portfolio Manager, Fund Manager, and Corporate Investment Adviser; no public listing or external equity capital has been disclosed.

Name

FSDH Asset Management

Legal name

FSDH Asset Management Limited

Website

https://fsdhaml.com

Company type

Private

Founded year

2001

Operating status

Operating

Headcount range

101–250 employees

Short description

FSDH Asset Management is a Nigerian SEC-registered asset management firm managing ₦192 billion across 5 mutual funds, 15 privately managed portfolios, and the ₦200 billion FSDH Infrastructure Debt Fund. It serves retail, institutional, and Shari'ah-conscious investors.

Ownership category

akta.pro rank

Product category

Asset Management

NAICS

Open-End Investment Funds (525910), Portfolio Management and Investment Advice (523940), Trusts, Estates, and Agency Accounts (52592)

SIC

Investment Advice (6282)

akta.pro primary industry

Fund of Funds & Multi-Manager Mutual Funds (FSAAAEAL)

Keywords

• Mutual fund management
• Portfolio management services
• Asset management
• Fixed income funds
• Investment advisory

Headquarters

HQ city

Lagos

HQ country

Nigeria

HQ region

Africa

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

1. Fund Management Fees: FSDH earns recurring management fees from operating multiple open-ended and close-ended unit trust mutual funds. Fee structures are expressed as annual expense ratios charged against fund assets, ranging from approximately 1.18% to 3.41% per annum depending on the fund.
2. Portfolio Management Services: The company generates fee income from managing customized segregated privately managed portfolios for high-net-worth individuals and institutional clients, including endowment funds, gratuity funds, and savings schemes.
3. Financial Advisory Services: FSDH provides bespoke financial advisory services to clients, generating advisory fee income for strategic guidance on investments, asset allocation, and financial planning.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

FSDH Asset Management operates a suite of SEC-registered mutual funds and structured investment products in Nigeria, including the Coral fund family (Income, Balanced, Money Market, Treasury Bill Note, Fixed Income Note), the FSDH Dollar Fund, FSDH Halal Fund, the FSDH Infrastructure Debt Fund (₦200 billion Shelf Programme), and customized Privately Managed Portfolios. It delivers professional fund management, segregated portfolio management for institutions and high-net-worth clients, and financial advisory services across retail and institutional segments in Nigeria.

Product overview

FSDH Asset Management offers a diversified portfolio of investment products and services centered around its Coral fund family and specialized investment solutions. The core offering consists of 5 collective investment schemes (Coral Income Fund, Coral Balanced Fund, Coral Money Market Fund, FSDH Dollar Fund, and FSDH Halal Fund), supplemented by structured products (Coral Treasury Bill Note, Coral Fixed Income Note), the FSDH Infrastructure Debt Fund, and customized Privately Managed Portfolio services. The company provides four main service pillars: investments, fund management, portfolio management, and advisory services, serving both retail and institutional investors in Nigeria.

Differentiator

Problem solved

Functional benefit

Brands

• Coral: Brand name for a suite of funds including Coral Income Fund (CIF), Coral Balanced Fund (CBF), Coral Money Market Fund (CMMF), Coral Treasury Bill Note (CTBN), and Coral Fixed Income Note (CFIN)
• FSDH Dollar Fund
• FSDH Halal Fund
• FSDH Infrastructure Debt Fund

Products and services

• Coral Income Fund (CIF) Actively managed, open-ended unit trust scheme investing exclusively in fixed income securities and money market instruments, designed to provide stable monthly income flows with 48-hour redemption and ₦5,000 minimum initial investment.
• Coral Balanced Fund (CBF) Actively managed, open-ended unit trust scheme investing up to 65% in equities listed on the Nigerian Stock Exchange and the balance in fixed-income securities, designed for long-term capital growth with 48-hour redemption.
• Coral Money Market Fund (CMMF) Actively managed, open-ended unit trust scheme investing exclusively in money market instruments with maturities less than 365 days, offering 24-hour redemption liquidity and ₦5,000 minimum initial investment.
• Coral Treasury Bill Note (CTBN) Structured product enabling retail investors below the ₦50 million threshold to purchase Federal Government Treasury Bills in the primary market with 91-day or 365-day tenors and returns of 3% to 7% p.a., minimum subscription ₦5 million.
• Coral Fixed Income Note (CFIN) Structured fixed-income product enabling investors to plan for short-term obligations while seeking positive real returns, with underlying interest-bearing instruments of 90 to 365-day tenors and 3% to 10% p.a. returns, minimum subscription ₦10 million.
• FSDH Dollar Fund (FDF) Open-ended mutual fund investing in US Dollar-denominated Fixed Income Securities (Eurobonds) issued by Nigerian Sovereign and Corporate Entities, offering USD currency exposure and bi-annual income distribution against Naira devaluation risk, minimum $1,000.
• FSDH Halal Fund (FHLF) Open-ended mutual fund for investors seeking long-term income through Shari'ah-compliant investments such as sovereign and sub-sovereign sukuks, corporate sukuks, leasing and trading contracts, with a 90-day minimum holding period, ₦5,000 minimum, and oversight by a Shari'ah Advisory Council.
• FSDH Infrastructure Debt Fund (FIDF) Close-ended unit trust scheme targeting institutional investors and high-net-worth individuals, investing in infrastructure debt across Agriculture, Healthcare, Transportation, Energy, ICT, and Urban Infrastructure in Nigeria and Sub-Saharan Africa.
• Privately Managed Portfolio (PMP) Tailored segregated portfolio management service managing endowment funds, gratuity funds, and savings schemes with customized asset allocation aligned to each client's objectives, liquidity needs, risk parameters, and investment horizon.

Quantifiable outcome

• Coral Income Fund (CIF) achieved an annual average return of 9.17% from inception in 2006 to August 31, 2017, outperforming the 91-Day Treasury Bills benchmark at 8.46% over the same period
• +3 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• DeloittecoreImplementation/ SI/ Consulting PartnerDeloitte serves as the independent whistleblowing channel provider for FSDH Asset Management through its Tip-Offs Anonymous (TOA) service, providing a toll-free hotline (0800TIPOFFS), email ([email protected]), web portal, and mobile app for confidential reporting of concerns.

Scale indicators5 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Stanbic IBTC Asset Management: One of Nigeria's largest asset managers, part of Stanbic IBTC Holdings. Operates a broad suite of mutual funds, segregated portfolios and institutional mandates, directly comparable to FSDH's Coral fund family and PMP service.
• ARM Asset Management (Agbara ARM): Nigerian asset management and pension business within the ARM Group; offers open-ended and closed-end funds, private equity and wealth management. Closely comparable in product mix and institutional client base to FSDH.
• Cardinalstone Asset Management: Nigerian asset manager offering mutual funds, discretionary portfolio management and alternative investments. Overlapping customer base (HNWIs and institutions) and product range with FSDH's PMP and Coral suite.
• United Capital Asset Management: Asset management arm of United Capital Plc, offering mutual funds, portfolio management and advisory services in Nigeria. Comparable in scale, SEC registration and breadth of investment products to FSDH.
• Coronation Asset Management: Nigeria-focused asset manager (formerly Investment One) providing mutual funds, segregated mandates and wealth management. Directly competitive in the same Nigerian retail and institutional segments as FSDH.
• Vetiva Capital Management: Independent Nigerian asset manager operating mutual funds, money market funds and equity products. Comparable product structure to FSDH's Coral suite, targeting similar retail and institutional investors.
• Lotus Capital: Nigerian asset manager specialising in Shari'ah-compliant investment funds. The most direct peer for FSDH Halal Fund and the broader Shari'ah-conscious investor segment FSDH targets.

Emerging players

• African Infrastructure Investment Managers (AIIM): Pan-African infrastructure-focused investment manager. Comparable to FSDH's newly launched FSDH Infrastructure Debt Fund given shared focus on infrastructure debt across Sub-Saharan Africa.
• Sigma Pensions: Nigerian pension fund administrator managing retirement savings portfolios. Comparable on the institutional side given FSDH's PMP and pension/endowment-gratuity mandate focus.

Regional players

• Leadway Pensure PFA: Nigerian pension fund administrator within the Leadway group. Overlaps with FSDH on institutional segregated mandate business, particularly for gratuity and endowment schemes.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/fsdhassetmgt
• Facebookfacebook.com/FSDHAssetManagement
• LinkedInlinkedin.com/company/fsdh-asset-management/about/?viewAsMember=true
• Instagraminstagram.com/fsdhassetmanagement

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about FSDH Asset Management