Nov 23, 2017, 16:38 ET
TORONTO, Nov. 23, 2017 /CNW/ - Excel Funds Management Inc. (the "Manager") today announced that it has obtained the requisite unitholder approval at a special meeting of unitholders of Excel Blue Chip Equity Fund (the "Fund") on November 10, 2017 and has also obtained the requisite regulatory approval to merge the Fund into Excel Emerging Markets Balanced Fund (formerly, Excel EM Blue Chip Balanced Fund), an open-end mutual fund managed by the Manager (the "Merger").
The Manager anticipates that the Merger will be completed on or about November 24, 2017. Upon completion of the Merger, the Fund will be terminated.
About Excel Emerging Markets Balanced Fund
The investment objective of Excel Emerging Markets Balanced Fund is to provide current income and long-term capital appreciation by investing primarily in a diversified mix of equity and income mutual funds which are predominantly emerging markets in nature.
About Excel Funds Management Inc.
The Manager was founded in 1998 with the launch of the Excel India Fund, the largest and longest running India-focused mutual fund in Canada.
Certain statements in this news release may constitute "forward-looking" statements which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Fund to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. When used in this news release, such statements use words such as "may", "will", "expect", "believe", "plan" and other similar terminology. These statements include statements regarding the Fund's plans to merge with Excel Emerging Markets Balanced Fund. These statements reflect management's current expectations regarding future events and speak only as of the date of this news release. These forward-looking statements involve a number of risks and uncertainties, including: the impact of general economic conditions, industry conditions, changes in laws and regulations, increased competition, fluctuations in commodity prices and foreign exchange, and interest rates and stock market volatility.
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.
SOURCE Excel Funds Management Inc.
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