Greenwich Associates on Tuesday named Baillie Gifford, Phillips, Hager & North and PIMCO as the 2016 Greenwich Quality Leaders in Canadian Institutional Investment Management Service.

The Stamford, Conn. based research firm highlights the trio of asset management firms rated highest by institutional investors for the quality of their investment management service.

The rankings are based on interviews with 214 professionals at the largest tax-exempt funds in Canada, including corporate funds, Canadian subsidiaries of U.S. corporate funds, public sector and provincial funds, endowments, and foundations.

According to Greenwich, the research aims to assess a variety of factors including the quality of reporting, formal investment reviews, informal meetings, the firm’s ability to understand client needs, and credibility with the investment committee, among other things.

The top-rated firms, “have distinguished themselves by building strong relationships based on a deep understanding of institutions’ circumstances and needs,” Greenwich says in a statement.

“Institutional investors are looking to their asset managers for advice and support,” adds Davis Walmsley, managing director at Greenwich. “The 2016 Greenwich Quality Leaders have established trusted advisory relationships with their clients, within a specific asset class or at the portfolio level.”