For 2017, Fundata Canada has presented its FundGrade A+ Awards to 57 companies representing 274 Canadian investment funds. On the list were 170 mutual funds, 38 ETFs, 63 segregated funds and three responsible investment funds.
This year’s top winners were:
- CI Investments, with 32 funds;
- Manulife Asset Management, with 28 funds;
- Sun Life Global Investments (SLGI), with 26 funds (the funds are categorized under SLGI and Sun Life Assurance Company); and
- Dynamic Funds, with 14 funds.
All the big six banks were represented. BMO Investments came out on top, with 19 funds represented (the funds are categorized under BMO Investments and BMO Asset Management), followed by RBC Global Asset Management, with 14 funds represented. CIBC and TD had eight each, while Scotiabank and National Bank had four each.
Award methodology: The FundGrade A+ Awards are presented to recognize what Fundata Canada finds are the “best of the best” among Canadian products. The FundGrade A+ calculation, which is supplemental to the monthly FundGrade ratings, is calculated at the end of each calendar year. The FundGrade rating system evaluates funds based on their risk-adjusted performance, as measured by the Sharpe Ratio, Sortino Ratio and Information Ratio. The score for each ratio is calculated individually, covering all time periods from two to 10 years. The scores are then weighted equally in calculating a monthly FundGrade. To be eligible, a fund must have received a FundGrade rating every month in the previous year.