VANCOUVER, Jan. 31, 2018 /CNW/ - OceanRock Investments Inc. was awarded the Fundata FundGrade A+ Rating for its Meritas® Growth & Income Portfolio, at a ceremony held January 25, 2018 in Toronto.
The FundGrade A+ Award is given annually to investment funds and their managers who have shown consistent, outstanding, risk-adjusted performance throughout the calendar year. The Meritas Growth & Income Portfolio Series A was awarded the Fundata FundGrade A+ Rating for the calendar year 2017 in the Canadian Equity Balanced (RI) category, for the one-year period ending December 31, 2017, out of a total of 112 funds.
This is the fifth year in row that an OceanRock portfolio has received an A+ rating from Fundgrade, and the second year in a row that the Growth & Income Portfolio has been recognized.
"We're pleased to once again receive an A+ rating from Fundgrade, in a competitive peer group," said Frederick Pinto, CEO, OceanRock Investments Inc. "This award highlights the capability of Responsible Investment mandates to deliver strong risk-adjusted returns through a rigorous securities selection process that includes evaluation of performance based on environmental, social and governance measures."
Only about 6.5 per cent of eligible Canadian investment funds attain the A+ rating, which represents the "best of the best," and is "a mark of rare and singular achievement," according to Fundata. Continue reading for further details about the evaluation methodology used by Fundata.
About OceanRock Investments Inc.
OceanRock Investments Inc. is a Canadian Responsible Investment leader, managing $2 billion on behalf of Canadian investors. OceanRock offers a comprehensive range of managed portfolio solutions and individual funds to meet the needs of individual and institutional investors. OceanRock is dedicated to offering disciplined, risk-controlled and diversified investment solutions to Canadian individual and institutional investors and has a core commitment to Responsible Investing through its Meritas SRI Funds. OceanRock Investments Inc. is a wholly owned subsidiary of Qtrade Financial Group.
About Qtrade Financial Group
Qtrade Financial Group is a national, award-winning, integrated financial services company, with over $15 billion in assets. Qtrade Financial Group provides online brokerage services to individual investors along with full-service brokerage, wealth and investment management platforms and services, custodial services, introducing broker services, and insurance solutions to meet the diverse needs of over 150 financial institutions, as well as their members and clients, across Canada. Qtrade Financial Group's partners include credit unions, banks, trust companies, insurance companies, investment dealers, portfolio managers and financial planning firms. Qtrade Financial Group is backed by Desjardins Group, the leading cooperative financial group in Canada and the sixth largest cooperative financial group in the world. More information is available at www.qtrade.ca.
About Fundata Canada Inc.
Fundata Canada Inc. has been providing data aggregation and dissemination services to the Canadian media and financial marketplace since 1987. Fundata is a major provider in the distribution of fund and stock information in Canada. Our database contains data on over 39,000 investment fund products. Fundata provides customized data feeds, top-shelf analytics, cutting-edge software tools, and seamless hosted web solutions for fund companies, back office systems, investment planners, banks, trust companies, resellers and redistributors, and online, print, and broadcast media channels. www.fundata.com.
About the Fundata FundGrade™ methodology
The objective of FundGrade is to rank and grade Canadian investment funds, on a monthly basis, against their peers using risk-adjusted performance metrics. Letter grades from A to E are used. Each month, FundGrade ratings are allocated as follows: 'A' is used for the top 10%; 'B' for the next 20%; 'C' for the middle 40%; 'D' for the next 20%; and 'E' for the bottom 10%. Ratings change on a monthly basis. The FundGrade rating system incorporates up to 10 years of history and uses three risk-adjusted performance metrics that are well known and widely accepted in the investment industry: (1) Sharpe Ratio—a measure of a fund's excess return relative to total risk. It is calculated by subtracting the risk-free rate from the fund's return and dividing by the standard deviation. (2) Sortino Ratio—a measure of a fund's excess return relative to downside risk. It is calculated by subtracting the minimum acceptable return from the fund's return and dividing by the downside deviation. (3) Information Ratio—a measure of a fund's active return relative to its tracking error. It is calculated by subtracting the benchmark return from the fund's return and dividing by the standard deviation of the difference between the return of the fund and the return of the benchmark.
See www.fundata.com/images/FundataFundgradeMethodology.pdf for specific details of FundGrade's ranking algorithm. To make the grades relevant, funds are only measured against similar investment products with comparable investment mandates. FundGrade uses the fund classification standards that have been defined by the Canadian Investment Funds Standards Committee (CIFSC). Funds are ranked and graded within CIFSC categories.
About the FundGrade A+ methodology
The FundGrade A+ Rating is a supplemental calculation to the FundGrade ratings and is performed at the end of each calendar year. Eligible funds must have received a FundGrade rating for each month in the previous calendar year. A score is assigned to each monthly FundGrade rating, as follows: A grade = 4; B grade = 3; C grade = 2; D grade = 1; E grade = 0. For each fund a 'GPA-style' calculation is made by adding up the values for the monthly scores and dividing by 12. Any fund with a GPA of 3.5 or higher receives a FundGrade A+. For specific details of FundGrade's ranking algorithm, see www.fundata.com/images/FundataFundgradeMethodology.pdf. FundGrade A+ was designed to identify not only the best-performing funds, but also the most consistent.
Meritas Growth & Income Portfolio
Meritas Growth & Income Portfolio Series A was awarded the Fundata FundGrade A+ Rating for the calendar year 2017 in the Canadian Equity Balanced (RI) category, for the one-year period ending December 31, 2017.
Performance for the fund for the period ended December 31, 2017, is as follows: 5.84% (1 year), 5.56% (3 year), 7.48% (5 year), 6.56% (since inception May 26, 2010).
Fundata's FundGrade A+ Rating is awarded for performance during a calendar year and not multiple year periods.
OceanRock Investments Inc. is the trustee, manager, portfolio adviser and promoter of the Meritas SRI Funds and the OceanRock Mutual Funds. The information contained herein is provided by OceanRock for general information purposes only and is not intended to provide, and should not be relied upon as providing, legal, accounting, tax, financial, investment or other advice, or a solicitation to buy or sell any securities. Economic and market conditions are subject to change. Meritas SRI Funds and OceanRock Mutual Funds are divisions of OceanRock, a wholly owned subsidiary of Qtrade Financial Group.
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. The indicated rates of return are historical annual compounded total returns for Series A units of the funds including changes in unit value and reinvestment of all distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any unitholder that would have reduced returns. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.
SOURCE Qtrade Canada Inc.
For further information: Sean Kelly, Senior Communications Manager, Qtrade Financial Group, 778.328.7583, [email protected]