Fundata Canada Inc. Tuesday announced the release of the its new FundGrade A+ Rating and the over 200 inaugural investment fund recipients of the grade.
The new annual rating builds on and enhances Toronto-based Fundata's existing FundGrade fund rating system. The FundGrade A+ Rating is awarded annually to funds that have achieved consistently high FundGrade scores through an entire calendar year.
FundGrade is an investment-fund rating system that recognizes funds with superior risk-adjusted returns. Over 7,000 funds are assigined a grade from an "A" (superior past performance) to an "E" grade (poor past performance).
The FundGrade A+ Grade identifies funds that have been consistent FundGrade A Grade performers over the past year. Fundata says it's the only objective rating system available in the market that's based solely on risk-adjusted performance history and that takes into account the consistency with which a fund is ranked at the top of its CIFSC class.
"We are excited about the release of the FundGrade A+ Grade, as it's the first grading system that's based solely on risk-adjusted performance history and takes into account the consistency with which a fund outperforms its peers," says Janny Vincent, president and CEO of Fundata Canada.
"We feel that identifying and honouring Canada's top-notch investment funds with an A+ rating will signify a very unique accomplishment by the fund companies and will allow investors and advisors to easily identify the best of the best over the past year," she adds.
Fundata notes that less than 2% of the investment fund products available in Canada have received a FundGrade A+ rating.
For a complete list of the funds receiving the 228 inaugural Fundata FundGrade A+ Rating for 2011, please visit http://www.fundata.com/ProductsServices/FundgradeAPlusList.aspx.