TORONTO, June 19, 2013 /CNW/ - Excel Funds Management Inc. (the
"Manager") is pleased to announce the monthly distribution for the
Excel Latin America Bond Fund II (the "Fund") for the month ended June
30, 2013 of $0.09645 per Class A unit and per Class F unit and
U.S.$0.09645 per Class U unit. The distributions will be payable on
July 15, 2013 to unit holders of record on June 28, 2013. The
distribution for the month ended June 28, 2013 is higher than the
targeted monthly distribution of $0.065 per Class A unit and per Class
F Unit and U.S.$0.065 per Class U unit (an annualized expected yield of
7.80%) as it has been pro-rated from the period May 17, 2013 (date of
inception of the Fund) to June 30, 2013.
The Manager and Excel Investment Counsel Inc., the Fund's portfolio
manager, are part of the Excel Funds group, a Canadian pioneer in
emerging market mutual fund investing, which manages 12 other
investment funds focused on the emerging markets, the largest product
line-up in the asset class across Canada.
BTG Pactual, the Fund's sub-advisor, is one of Latin America's leading
independent asset managers and had over U.S. $65 billion in assets
under management as at December 31, 2012. Standard and Poor's has
awarded them the 2011 and 2012 Best Fixed Income Fund Manager
About Excel Latin America Bond Fund II
The Fund's investment objectives are to provide unitholders with (i)
monthly distributions; and (ii) the opportunity for capital
appreciation, in each case, by investing in a diversified portfolio
(the "Portfolio") consisting primarily of U.S. dollar denominated high
yield fixed income securities issued by companies located in Latin
America. The Fund hedges substantially all of the value of the
Portfolio attributable to the Class A units and the Class F units, to
the Canadian dollar. The Portfolio is not hedged in respect of the
Class U units. The Fund does not have a fixed monthly distribution
amount but intends to, at least annually, set distribution targets
based on the Manager's and portfolio manager's estimate of
distributable cash flow for the period; all distributions are paid out
to unitholders as cash distributions.
Class A units of the Fund trade on the Toronto Stock Exchange under the
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
Commissions, trailing commissions, management fees and expenses all may
be associated with investment funds. Please read the Funds' publicly
filed documents which are available from SEDAR at www.sedar.com. Investment funds are not guaranteed, their values change frequently
and past performance may not be repeated.
SOURCE: Excel Funds Management Inc.
For further information:
Please contact your financial advisor, call our investor relations line at 1-888-813-9813 or visit our website at www.excelfunds.com.
Chief Compliance Officer
Excel Funds Management Inc.