Toronto-based Fundata Canada Inc. presented the winners of the 2013 Fundata FundGrade A+ Rating at its second annual "Evening of Excellence" event on Wednesday.
While this is the second year that Fundata hosted an event for its award, the ranking itself is now three years old.
"We feel that recognizing Canada's top investment funds with the FundGrade A+ Rating allows investors and advisors to easily identify the best of the best over the past year," said Janny Vincent, president and CEO, Fundata.
The ranking is calculated through a grade-point average to measure the annual "best of the best" investment fund ratings based on up to ten years of performance history.
The FundGrade A+ Rating is awarded to funds that have consistently held a high FundGrade score throughout the calendar year.
"The third annual FundGrade A+ winners list honours the exceptional achievement of the select group of 194 investment funds and their managers in producing consistent, outstanding risk-adjusted performance through the year and beyond," said Vincent.
Less than 4% of eligible Canadian investment funds have received a FundGrade A+ Rating.
CI Investments Inc. placed the most funds on the winners list, with 21. Fidelity Investment Canada ULC and Great-West Assurance Company each placed 12 funds on the winners list.