Phillips, Hager & North, a unit of Royal Bank of Canada (TSX:RY), won top prizes at the Canada Lipper Fund Awards 2011 announced at a ceremony in Toronto Thursday night.

PHN was named Best Fund Group Overall and Best Bond Fund Group for the second straight year.

Sentry Select won the Best Equity Fund Group award, and National Bank of Canada (TSX:NA) won the award for Best Mixed Assets Group.

The Lipper Group Awards are based on the best risk-adjusted performance delivered by a fund family during the three-year periods ended December 31 of the previous year.

Among the other big winners, Dynamic Funds won 16 individual awards in 14 categories.

Lipper, a Thomson Reuters company, is a global leader in supplying mutual fund information, analytical tools and commentary. The awards are part of a global program held in 21 countries to highlight funds and fund families that excel in delivering consistently strong risk-adjusted performance relative to their peers.

Details of the awards can be found here.