TORONTO, June 18, 2013 /CNW/ - Excel Funds Management Inc. (the
"Manager") is pleased to announce the distribution for the quarter
ended June 30, 2013 of $0.19375 per unit for the Excel Latin America
Bond Fund (the "Fund"). The quarterly distribution is in line with the
Fund's targeted annual distribution of $0.775 per annum. The
distributions will be payable on July 15, 2013 to unit holders of
record on June 28, 2013.
Since the Fund's launch on June 19, 2012, its units have consistently
traded above both its Net Asset Value per unit ("NAV") and its $10.00
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
The Fund's investment objectives are to (i) provide quarterly
tax-advantaged distributions consisting primarily of returns of
capital; and (ii) preserve and provide the opportunity to increase the
net asset value of the Fund, in each case, through exposure to an
actively managed, diversified portfolio consisting primarily of U.S.
dollar denominated fixed income securities issued by companies located
in Latin America, with an initial focus on Brazil. The Portfolio
Manager intends to hedge substantially all of the value of the
portfolio to the Canadian dollar.
Class A Units of the Fund trade on the Toronto Stock Exchange under the
It is expected that Distributions to unitholders will consist primarily
of returns of capital but may also include capital gains for income tax
purposes; Distributions are paid as a fixed amount each quarter,
representing an amount which approximates the amount of income the Fund
is expected to receive on average each quarter net of any expenses.
This Fund does not have a fixed quarterly 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
of ELA Trust for the period; all distributions are paid out to
unitholders as cash distributions.
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
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.