CIAs toast best of the industry

By Steven Lamb | December 3, 2009 | Last updated on December 3, 2009
2 min read

The Canadian Investment Awards were Wednesday night at the Fairmont Royal York, in Toronto. Three firms dominated the night, together picking up 15 of the 32 individual fund awards.

Dynamic Mutual Funds was named Advisors’ Choice Fund Company of the Year, and also took home the Advisor Education Award, the IFIC Investors Education Award, and three individual “Best Fund” awards.

CI Investments took home the Analysts’ Choice Fund Company of the Year Award, plus five “Best Fund” awards. The analyst panel cited the company’s wide choice of products and value-pricing as contributing factors in naming it company of the year.

CI also was recognized with the Morningstar Equity Fund Manager of the Year Award, which went to Eric Bushell, chief investment officer of CI’s Signature Global Advisors.

Beutel Goodman harvested five individual “Best Fund” awards, including four of eight Pooled Fund Awards and the Canadian Fixed Income Fund Award. On top of that haul, the firm is home to the winner of the inaugural Morningstar Fixed Income Fund Manager of the Year Award, which went to Bruce Corneil.

Other firms with notable trophy-counts include Mackenzie and Mawer, each with three Best Fund awards, and Templeton with two.

The Career Achievement Award was presented to Glorianne Stromberg, who admitted that she was a little surprised by the honour. The CIA judges praised her for devoting decades to better regulation of the industry.

It was announced yesterday that the Canadian Investment Awards had been purchased by Morningstar Research. The transaction is expected to be completed in the first quarter of 2010.

“Morningstar’s research has always focused on helping investors find investments that outperform, so it seems only fitting that Morningstar will become home to the awards program that recognizes the best in the Canadian investment industry,” said Scott Mackenzie, president and chief executive officer of Morningstar Canada.

Morningstar is a long-standing sponsor of the CIAs, but both have come under some pressure since mutual fund research firm Lipper arrived in Canada in 2007, bringing not only its ratings services but its annual awards ceremony as well.

“It has been gratifying to see the growth of the Canadian Investment Awards since I launched it 15 years ago,” said Sabine Steinbrecher, CEO and founder of Canadian Investment Awards Inc. “It’s a natural time to make this transition, and it makes sense to leave the awards and gala in the capable hands of Morningstar, an organization that has been instrumental in our success over the years, through both its sponsorship and evaluation of our award recipients.”

For a complete list of winners, check out the CIA website.


Steven Lamb