CI Investments Inc. was the big winner at Fundata Canada Inc.’s annual awards ceremony with 32 of its mutual funds and segregated funds being recognized with FundGrade A+ Awards. (Both firms are based in Toronto.)
A total of 57 companies representing 298 Canadian investment funds were honoured at the 2017 awards gala event in Toronto on Thursday night. The FundGrade A+ Award is given annually to investment funds and managers who have shown consistent, outstanding, risk-adjusted performance through the year.
“Our award-winning mutual funds are managed by five distinct CI investment teams — a testament to the breadth and depth of our portfolio management lineup,” says Neal Kerr, executive vice president, investment management at CI Investments, in a statement. “Congratulations to our portfolio managers for this well-deserved recognition.”
Toronto-based Manulife Investments received the second highest number of awards, 28 of which which were bestowed on a combination of mutual funds and seg funds.
Toronto-based Sun Life Global Investments (Canada) Inc. rounds out the top three recognized companies with awards for 26 of its mutual and segregated funds.
The FundGrade A+ Rating is a quantitative award system that uses a score-based calculation to arrive at a grade-point average, which ranks funds to determine the annual “best-of-the-best” investment fund ratings. Seg funds and responsible investing (RI) funds are ranked separately.
In all, 170 mutual funds, 38 ETFs, 63 seg funds, and three RI funds were honoured.
A full list of the award-winning funds can be found on Fundata Canada’s website.