TORONTO, April 14, 2015 /CNW/ - Excel Funds Management Inc. ("Excel Funds") is optimistic that the Honorable Prime Minister of India Narendra Modi, and his visit to Canada will lead to stronger bilateral relations and an increase in investments in India.
"As the world's fastest growing economy, India is firing on all cylinders and has become attractive to foreign investors," says Bhim D. Asdhir, President & CEO of Excel Funds. "Since assuming office last May, Prime Minister Modi has been instrumental in influencing significant investments from several major countries, among them the US, Japan, China and France. Canada is expected to follow suit," he adds.
The attraction to India stems from the acceleration in its economic growth which is buoyed by comprehensive political, institutional and regulatory reforms; massive infrastructural development; the easing of foreign investment restrictions; favorable fiscal and monetary policies; a strong currency; and most of all, the strong leadership of the investor friendly Prime Minister Modi.
"India also has a young population, with a median age of 27, a large highly educated labor force, and a growing, upwardly mobile middle class which increases its desirability as an investment destination," says Asdhir.
As India takes off, the Excel India Fund is expected to continue to perform well. For the 1-year period ending March 31, 2015, the Excel India Fund, Series A had a total return of 54.7%, as tracked by Morningstar Canada.1
The Excel India Fund is the largest and longest running mutual fund in Canada, focused solely on investing in India. The fund is managed on-the-ground by the award-winning Birla Sun Life Asset Management Company Limited ("Birla"), one of the largest and most respected asset managers in India.
"We are optimistic that the Excel India Fund will continue to perform well due to its' on-the-ground management, which is critical for leveraging the best growth opportunities. Birla has first-hand knowledge of the companies in which it invests and can perform onsite visits and meet management teams prior to making investment decisions – providing us with a competitive edge over our competitors," suggests Asdhir.
We anticipate that Prime Minister Modi's visit will raise awareness of India as one of the best investment destinations. Through the Excel India Fund, Canadians can take advantage of the available opportunities in India.
Excel Funds' team of experts on India are available to provide interviews and commentary on Prime Minister Modi's visit and on investing in India. Our team members include:
- Bhim D. Asdhir, President & CEO, Excel Funds Management Inc.;
- David Kunselman, Senior Portfolio Manager, Excel Investment Counsel Inc.; and
- Christine Tan, Portfolio Manager, Excel Investment Counsel Inc.
Two experts directly from India will also be available for interviews and commentary from April 13, 2015 to April 17, 2015:
- Atul Penkar, Portfolio Manager at Birla and Portfolio Manager of the Excel India Fund; and
- Vikas Gautam, Chief Executive Officer, Global Offshore Business, Aditya Birla Sun Life Asset Management Company Pte Ltd., an affiliate of Birla.
About Excel Funds:
Established in 1998, Excel Funds is a pioneer in investing in emerging markets. With 11 open-end mutual funds and two closed-end mutual funds under management, Excel Funds offers the broadest range of emerging market funds in Canada. All funds are managed by Excel Investment Counsel Inc., in collaboration with on-the-ground, world class sub-advisors who live in the countries and regions in which they invest.
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.
Certain statements in this press release may be viewed as forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, intentions, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects", "is expected", "anticipates", "plans", "estimates" or "intends" (or negative or grammatical variations thereof), or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements including as a result of changes in the general economic and political environment, changes in applicable legislation, and the performance of the mutual fund after completion of the merger. Actual events or results may differ materially from such forward-looking statements as a result of risks facing the mutual fund, most of which are beyond the control of the mutual fund. There are no assurances that the mutual fund can fulfill such forward-looking statements and the mutual fund does not undertake any obligation to update such statements.
1 © 2015 Morningstar Research Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.
SOURCE Excel Funds Management Inc.