TORONTO, March 29, 2016 /CNW/ - Excel Funds Management Inc. ("Excel Funds") is pleased to announce that it has signed a Memorandum of Agreement (the "Memorandum") with Aditya Birla Sun Life Asset Management Company Pte. Limited ("ABSLAMC") to offer investment strategies to institutional investors. ABSLAMC is a wholly owned subsidiary of Birla Sun Life Asset Management Company Limited ("BSLAMC"), headquartered in Mumbai, India.
India is currently the world's fastest-growing major economy and accounts for approximately 17.5% of global population. With favourable demographics driving development and pro-business reforms helping to increase investor flows into the country, India has been a key market for Excel Funds, for over 18 years. More recently, there has been growing interest from leading Canadian institutions who have expanded their footprint into India by setting up operations, and partnering with prominent Indian companies.
BSLAMC is among the top 4 ranked asset managers in India, with total assets under management of approximately US$21 billion, as of December 31, 2015. BSLAMC has a longstanding relationship with Excel Funds, dating back to April, 1998 and the launch of the Excel India Fund, which is the largest and longest-running, India-focused mutual fund in Canada. The Excel India Fund, Series A is also a 2015 Lipper Award recipient for best performance over 3 years in the Geographical Equity category.
Sharing his thoughts on this development, Mr. A Balasubramanian, Chief Executive Officer of BSLAMC said, "We see great synergies in our partnership with Excel Funds. Our expertise in the Indian market over the past two decades, and process oriented approach to money management, combined with the comprehensive suite of investment strategies offered by Excel Funds, makes for a very compelling proposition for investors. We look forward to working together to help institutions meet their investment goals."
"As we seek to expand our reach into the North American market, we look forward to combining our strengths and industry expertise with Excel Funds to offer Canadian institutions unique products that capitalize on the growth in India," says Vikas Gautam, Chief Executive Officer and Head of International Business with ABSLAMC. "With ground-breaking reforms taking place, now is the time for investors to get in on the ground floor and maximize their long-term returns."
ABSLAMC provides services to domestic and foreign clients in both the equity and fixed-income markets. Under the terms of the Memorandum, Excel Funds and ABSLAMC will also offer institutional investors direct access to infrastructure, real estate and private equity opportunities in India.
"I am truly excited about this partnership. BSLAMC is one of the best fund managers in India and this agreement aligns our mutual objective of generating strong risk-adjusted returns for our investors. Today marks a significant milestone in our quest to better serve institutional clients in North America and Europe," says Bhim D. Asdhir, President and Chief Executive Officer of Excel Funds.
Capitalizing on the mounting interest in overseas markets, Excel Funds will be hosting a panel of global investment experts, including representatives from BSLAMC, at the 2016 Excel Funds Emerging Markets Symposium, to speak on current investment topics and investing in the emerging markets.
The 2016 Excel Funds Emerging Markets Symposium will take place on April 18th and 19th, in Montreal and Toronto, respectively. Visit https://www.excelfunds.com/em-symposium-2016/ to learn more.
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". The Excel India Fund, Series A was awarded a 2015 Lipper Fund Award in the Geographic Equity category for the 3-year period ending July 31, 2015 out of a total of 12 funds. 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 Aditya Birla Sun Life Asset Management Company Pte. Limited and Birla Sun Life Asset Management Company Limited
Aditya Birla Sun Life Asset Management Company Pte. Limited ("ABSLAMC") is a wholly owned subsidiary of Birla Sun Life Asset Management Company Limited ("BSLAMC"). Established in 1994, BSLAMC is a joint venture between the Aditya Birla Group and Sun Life Financial Inc., a leading international financial services organization based in Canada. BSLAMC is the 4th largest asset management company in India based on domestic average assets under management of approximately US$21 billion for the quarter ending December 31, 2015.
For further information, please contact your financial advisor, call our investor relations line at 18888139813 or visit our website at www.excelfunds.com.
SOURCE Excel Funds Management Inc.
Image with caption: "Bhim D. Asdhir, President and CEO, Excel Funds Management Inc. (CNW Group/Excel Funds Management Inc.)". Image available at: https://photos.newswire.ca/images/download/20160329_C7352_PHOTO_EN_652707.jpg
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