OSC grants a Fundata Client regulatory relief in use of FundGrade™ Ratings
TORONTO, ON, APRIL 13, 2016 – Fundata Canada Inc. is pleased to announce an important decision by securities regulators that may favorably impact fund companies’ communications strategies. A major Canadian fund company working closely with Fundata has obtained regulatory relief allowing it to use both the monthly FundGrade Rating and the annual FundGrade A+™ Award in its communications material.
In consultation with Fundata, the client firm petitioned the Ontario Securities Commission (OSC) for relief from certain regulatory provisions specified in
National Instrument 81-102 – Investment Funds that restricted the use of the FundGrade Rating and the FundGrade A+ Award. In a decision dated March 7, 2016, the Ontario Securities Commission granted the discretionary relief sought, subject to disclosure requirements, which allows use of the annual FundGrade A+ Award in communications materials for 365 days from the end of the rating period.
Janny Vincent, President of Fundata, said, “This is exciting news for FundGrade A+ Award-winners, as we know how hard they work through the year to achieve the superior risk-adjusted returns that result in a monthly FundGrade A Rating or the annual FundGrade A+ Award.”
The
FundGrade A+ Award identifies funds that have been consistent monthly
FundGrade A-Grade performers over the past calendar year. FundGrade is an objective rating system that’s based solely on risk-adjusted performance history and takes into account the consistency with which a fund is ranked at the top of its CIFSC class.
“Fundata is committed to working closely with the investment industry and regulators to provide the market with top-quality data, analytics, and objective fund performance ratings. This decision allows for solid and available metrics for investors to utilize,” said Ms. Vincent.
It is important to note that the relief obtained for Fundata’s client in the OSC decision is not automatically granted to all fund companies. To obtain this relief for FundGrade Ratings or FundGrade A+ Awards granted to any of their funds, fund companies must file an application separately with the principal securities regulator in their province or territory.
The full text of the OSC decision may be viewed on the
OSC website at
http://www.osc.gov.on.ca/en/SecuritiesLaw_ord_20160310_214_ci-investments.htm.
For more information, please contact Jocelyn Courcelles, Client Relations Manager, Fundata Canada, 647-426-5553. Email:
jocelyn.courcelles@fundata.com
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 player in the distribution of fund information in Canada. Our database contains over 35,000 investment funds and clones, covering 850 data points. Fundata provides customized data feeds, top-shelf analytics, cutting-edge software tools, point of sale solutions, 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.