/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES./
TORONTO, March 25, 2013 /CNW/ - Excel Funds Management Inc. (the
"Manager"), the manager of Excel Latin America Bond Fund (the "Fund"),
announced that it is currently reviewing the implications to the Fund
of the measures in the federal budget announced on March 21, 2013.
Such measures will affect certain tax benefits gained by taxable
unitholders of investment funds, such as the Fund, that utilize forward
purchase and sale agreements to obtain exposure to an underlying
reference portfolio. Based on its review to date, the Manager believes
that the Fund's current structure will remain intact and will be
unaffected by the budget proposals until the expiration of the forward
agreement in June 2017. The Manager awaits further guidance from the
Federal Government on the implementation of the budget proposals and
will provide additional details as soon as it is in a position to do
The Manager is also reviewing the implications of such measures to the
Fund's previously announced treasury offering of Class A, Class F and
Class U units, for which a preliminary prospectus was filed on February
27, 2013, and will provide additional details as soon as it is in a
position to do so.
Certain statements contained in this news release constitute
forward-looking information within the meaning of Canadian securities
laws. Forward-looking information may relate to the future outlook of
the Fund and anticipated distributions, events or results and may
include statements regarding the future financial performance of the
Fund. In some cases, forward-looking information can be identified by
terms such as "may", "will", "should", "expect", "anticipate",
"believe", "intend" or other similar expressions concerning matters
that are not historical facts. Actual results may vary from such
The Fund's securities have not been registered under the U.S. Securities
Act of 1933, as amended, or any state securities laws. This press
release does not constitute an offer to sell or the solicitation of an
offer to buy any securities within the United States.
SOURCE: Excel Funds Management Inc.
For further information:
For further information, please contact Excel's Chief Compliance Officer at 1-888-813-9813 or visit our website at www.excelfunds.com.
Chief Compliance Officer
Excel Funds Management Inc.