Canada’s 50 largest fund companies collectively oversee more than C$2.8 trillion across more than 4,200 Canadian mutual and exchange-traded funds. Morningstar’s annual Fund Family Digest: Canada compares these firms across key characteristics, including fund assets under management, Morningstar Medalist Ratings, and manager tenure. Here’s how they stack up.
Which Fund Companies Manage the Most Money in Canada?
RBC Global Asset Management, part of banking giant RBC, remains Canada’s largest fund company, with more than C$500 billion in assets under management. That represents roughly 18% of all Canadian fund assets, 80% more than the industry’s next-largest, TD Bank’s TD Asset Management.
Given their strong connection to the country’s bank customers, bank-owned asset managers remain prominent in the fund market, and five are among Canada’s largest 10 fund families. Among non-bank firms, Fidelity International is the largest, followed by CI Global Asset Management.
10 Largest Firms by Canadian Fund Assets
Which Canadian Fund Companies Earn the Highest Parent Pillar Ratings?
The Parent Pillar is one of three fundamental pillars underlying the Morningstar Medalist Rating. It evaluates a firm’s investment culture and business practices, its ability to attract and retain investment talent, and the way it compensates portfolio managers, among other things.
Only four of Canada’s 50 largest fund companies receive a High Parent Pillar rating from Morningstar analysts: Vanguard, Dimensional, Pimco, and Capital Group.
Firms That Earn High Parent Pillar Ratings
Although Vanguard, Dimensional, and Capital Group are quite different, each has boasted a High Parent Pillar rating for years. Compared with their peers, all offer low-cost funds with enduring investment merit. Meanwhile, Pimco, long a fixed-income juggernaut, earned an increase to High from Above Average in 2026. Pimco continues to employ some of the best managers and analysts in the business, and offers a solid lineup of funds.
Nine additional firms receive Above Average Parent Pillar ratings, including RBC GAM, TD Asset Management, Fidelity International, and BlackRock/iShares.
Where Do Portfolio Managers Stay the Longest?
Experienced, stable investment teams can strengthen a firm’s Parent Pillar rating. Boutiques stand out on this measure, as shared investment philosophies and employee ownership often help them retain portfolio managers.
Average Tenure of Longest Named Manager
Beutel Goodman leads the group, with its funds’ longest-serving named managers averaging 18 years of tenure. Although publicly traded AMG maintains a large minority stake in Beutel Goodman, employees, including all its portfolio managers, keep majority share and control. Beutel Goodman also incentivizes alignment with fundholders by requiring managers to invest in the firm’s funds. Dimensional, EdgePoint, and Brandes also average more than a decade.
Which Fund Companies Have the Most Top-Rated Funds?
The Medalist Rating assesses a fund’s prospects of outperforming its category peers after fees. It combines evaluations of the fund’s People, Process, and Parent pillars with an assessment of how competitive its fees are within its category.
Gold, Silver, and Bronze Morningstar Medalist Ratings Among the 10 Largest Firms by Fund Assets
Among Canada’s 10 largest fund companies, BlackRock/iShares leads by a wide margin, with 76% of its share classes earning a Gold, Silver, or Bronze Medalist Rating. Fidelity International ranks second, with more than half of its share classes earning a medal.
Get the Full Report
Download the full Fund Family Digest: Canada in 2026 for rankings of the country’s 50 largest fund families and detailed fact sheets on the 24 firms covered by Morningstar analysts. The report examines assets under management, fund launches and closures, performance, manager tenure and retention, and fees.
Regional editions are also available for the United States, Europe, , and South Africa.
