In the news release, "Excel Funds Provides Gateway to the 'New India,'" please note that the below replaces the release disseminated on Jan. 25 at 09:53e. Corrected copy follows::
Excel Funds Provides Gateway to the 'New India'
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./
TORONTO, Jan. 25, 2016 /CNW/ - Excel Funds Management Inc. (the "Manager") is pleased to announce that it has filed a preliminary prospectus for Excel India Balanced Fund and Excel New India Leaders Fund (the "Funds").
The Excel India Balanced Fund will target current income and long-term capital appreciation by investing in an actively-managed, diversified portfolio comprised primarily of publicly-listed equities and investment-grade fixed-income securities, issued in India. Initially, it will pay an attractive annual distribution, estimated to be in the range of 4%.
"In addition to high-quality Indian equities, the fund offers access to the Indian fixed-income market which, previously, was not readily accessible to Canadian investors," says Christine Tan, Chief Investment Officer with Excel Investment Counsel Inc. "The Indian fixed-income market offers attractive yields, underpinned by a liquid market and highly rated issuers."
The Excel New India Leaders Fund seeks long-term superior growth of capital by investing primarily in equity securities of companies located in India that are considered to be emerging industry leaders. From an investment universe of over 700 companies, the fund will target a concentrated set of under-researched and under-valued stocks to help generate alpha.
"Mid and small-cap companies tend to grow at a faster pace than larger companies during periods of strong economic growth," says Ms. Tan. She adds: "They tend to be more nimble and entrepreneurial and are not constrained by hierarchical decision-making structures."
The two new funds will be part of an expanded lineup of India-focused investment strategies that includes, the Excel India Fund, which is the largest and longest-running mutual fund in Canada, focused solely on investing in India. The Excel India Fund, Series A won the 2015 Lipper® Fund Award for Best Fund over 3 years, in the Geographic Equity category.
The funds will be actively managed by Birla Sun Life AMC Limited ("Birla"), one of the largest and most respected asset managers in India. "By being on the ground in India, Birla's large team of portfolio managers has firsthand knowledge of the companies in which they invest, backed by a strong emphasis on in-house systematic research," says Bhim D. Asdhir, President and CEO of Excel Funds Management Inc. "They can perform onsite visits and meet management teams prior to making investment decisions, providing a competitive edge in finding the best investment opportunities," he adds.
"Excel Funds has a longstanding track record of successful investing in India, dating back to 1998, and we are confident that our new funds are positioned to do well," says Mr. Asdhir. "India's attractiveness as one of the top investment destinations in the world stems from the acceleration in its economic growth, buoyed by comprehensive political and regulatory reforms; record levels of foreign investment; declining inflation; a strong currency; and increasing consumer demand resulting from rapid urbanization," he concludes.
A preliminary prospectus containing important information relating to the Funds has been filed with the securities commissions or similar authorities in certain jurisdictions of Canada. The preliminary prospectus is still subject to completion or amendment. Copies of the preliminary prospectus are available on SEDAR at www.sedar.com and may be obtained from Excel Funds Management Inc. There will not be any sale or any acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued.
This press release is not an offer of securities for sale in the United States, and the securities may not be offered or sold in the United States absent registration or an exemption from registration. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended.
For further information, please contact your financial advisor, call our investor relations line at 18888139813 or visit our website at www.excelfunds.com.
The Excel India Fund, Series A was awarded a 2015 Lipper Fund Award in the Geographic Equity category for the 3-year and 10-year periods ending July 31, 2015 out of a total of 12. The Lipper Fund Awards, granted annually, are part of the Thomson Reuters Awards for Excellence awarded by Lipper, Inc. and highlight funds that have excelled in delivering consistently strong risk-adjusted performance relative to their peers. The Lipper Fund Awards are based on the Lipper Ratings for Consistent Return, which is a risk-adjusted performance measure calculated over 36, 60 and 120 month periods. The highest 20% of funds in each category are named Lipper Leaders for Consistent Return and receive a score of 5, the next 20% receive a score of 4, the middle 20% are scored 3, the next 20% are scored 2 and the lowest 20% are scored 1. The highest Lipper Leader for Consistent Return in each category wins the Lipper Fund Award. Lipper Leader ratings change monthly. For more information, see www.lipperweb.com. Although Lipper makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Lipper.
About Excel Funds Management Inc.:
Founded in 1998, Excel Funds Management Inc. offers an award-winning suite of emerging market strategies, catering to a broad range of investor profiles and objectives. Leveraging a global network of over 500 portfolio managers and 200 research analysts, our team has firsthand knowledge of the markets in which they invest – providing us with a true competitive advantage over our peers.
Our investment philosophy is grounded in disciplined fundamental research and continuously seeks out new growth opportunities in the emerging markets and beyond. Our on-the-ground sub-advisers and proprietary asset allocation models contribute to the firm being recognized as "The Authority in Emerging Markets".
SOURCE Excel Funds Management Inc.
Image with caption: "Bhim D. Asdhir, President & Chief Executive Officer, Excel Funds Management Inc. (CNW Group/Excel Funds Management Inc.)". Image available at: http://photos.newswire.ca/images/download/20160125_C5810_PHOTO_EN_604949.jpg
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