MISSISSAUGA, ON, May 16, 2014 /CNW/ - Excel Funds Management Inc.
("Excel Funds"), the manager of the largest and longest-running India
mutual fund in Canada is optimistic that India's equity markets will
gain renewed momentum in the wake of the election of its new,
pro-business government, led by Prime Minister, Narendra Modi of the
Bharatiya Janata Party (BJP). This will benefit investors in the Excel
India Fund, the most successful India fund in Canada.
Largest victory for any single party in India
Modi's victory, the biggest for any single Indian party in 30 years, is
expected to put an end to policy paralysis in the world's largest
democracy, which has inhibited the country from achieving its true
economic potential. "The Indian population recognizes that India has
the hallmarks of becoming a true economic powerhouse and has given Modi
the mandate to institute the necessary reforms to accelerate the
country's growth," says Bhim D. Asdhir, President and CEO of Excel
Funds. "This is great for India and good for the world to have a huge
economy with double-digit growth rates." he adds.
Confident investors exuberant over Modi's victory
Widely favoured by the business community, Modi is expected to implement
policies that will improve India's macroeconomic framework, including a
lower current account deficit, stable interest rates, and a stronger
currency. It is also anticipated that he will bring greater stability
to India in an environment of increased transparency.
In anticipation of his victory, foreign investors, led by smart,
sophisticated money, have already commenced investing money into India,
setting the stage for strong gains in the equity markets. "This is the
beginning of the biggest bull market India has ever experienced, says
Asdhir. "The key investment sectors expected to benefit immediately
include infrastructure, banking, manufacturing, tourism, and
agriculture, translating into an increasing number of jobs for India's
relatively young labour force."
Unparalleled gains in Excel India Fund
Currently, the undervalued Indian equity market is among the best
performing in the world, with significant scope to head higher.
Comparatively, the Excel India Fund has significantly outperformed both
the Bombay Stock Exchange (BSE) Sensex Index and the S&P 500 Index
since its inception on April 14, 1998, primarily due to the
on-the-ground expertise of its manager. As the chart below shows, the
value of a $10,000 investment in the Excel India Fund made at its
inception would be worth $44,980 on April 30, 2014, compared to $36,747
for the BSE Sensex Index and $17,324 for the S&P 500 Index. "We expect
investors to make even greater gains as the Indian economy and its
market take-off," says Asdhir. "India's upside potential far exceeds
its downside potential," he adds.
About Excel Funds
Established in 1998, Excel Funds is a pioneer in investing in emerging
markets in Canada, offering the widest selection of emerging markets
funds to Canadian investors. Through its network of sub-advisors, Excel
has access to over 200 local portfolio managers and analysts around the
world. Excel's on-the ground sub-advisors, proprietary asset allocation
model and best-in-class portfolio managers contribute to the firm being
recognized as "The Authority in Emerging Markets" in Canada.
The Excel India Fund, the largest and longest running India fund in
Canada, is managed in India by Birla Sun Life AMC Ltd., one of the
largest and most respected asset managers in India.
Certain statements in this press release may be viewed as
forward-looking statements. Any statements that express or involve
discussions with respect to predictions, expectations, beliefs, plans,
intentions, projections, objectives, assumptions or future events or
performance (often, but not always, using words or phrases such as
"expects", "is expected", "anticipates", "plans", "estimates" or
"intends" (or negative or grammatical variations thereof), or stating
that certain actions, events or results "may", "could", "would",
"might" or "will" be taken, occur or be achieved) are not statements of
historical fact and may be forward-looking statements. Forward-looking
statements are subject to a variety of risks and uncertainties which
could cause actual events or results to differ from those reflected in
the forward-looking statements including as a result of changes in the
general economic and political environment, changes in applicable
legislation, and the performance of the mutual fund after completion of
the merger. Actual events or results may differ materially from such
forward-looking statements as a result of risks facing the mutual fund,
most of which are beyond the control of the mutual fund. There are no
assurances that the mutual fund can fulfill such forward-looking
statements and the mutual fund does not undertake any obligation to
update such statements.
Image with caption: "India's poised to experience biggest bull market ever (CNW Group/Excel Funds Management Inc.)". Image available at: http://photos.newswire.ca/images/download/20140516_C8899_PHOTO_EN_40456.jpg
SOURCE: Excel Funds Management Inc.
For further information:
Media Contact: Kristina Tomasovic, tel 905-813-7111, e-mail: firstname.lastname@example.org
Excel Funds Management Inc. CEO and President: Bhim D. Asdhir, tel 905-624-7700, cell 416-716-1242