Excel India Growth & Income Fund Announces Unitholder Approval of Proposed Merger and Voluntarily De-listing from the TSX

TORONTO, June 27, 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 India Growth & Income Fund (TSX:EGI.UN) (the "Fund") on June 20, 2017, to merge the Fund into Excel India Balanced Fund, an open-end mutual fund managed by the Manager (the "Merger").

In anticipation of the Merger, the Manager, on behalf of the Fund, has applied to voluntarily de-list the Fund's units from the Toronto Stock Exchange (the "TSX"). It is expected that the Fund's units will be de-listed from the TSX at the close of trading on Tuesday, July 11, 2017. 

The Manager anticipates that the Merger will be completed on or about July 14, 2017.  Upon completion of the Merger, the Fund will be terminated.

About Excel India Balanced Fund

The investment objective of the Excel India Balanced Fund is to provide monthly cash distributions and long-term capital appreciation by obtaining exposure to an actively-managed, diversified portfolio comprised primarily of publicly-listed equity securities and investment grade fixed income securities, in each case, issued by entities located in India.

About Excel Funds Management Inc.

The Manager is a multiple Lipper Award winner specializing in emerging markets. Founded in 1998 with the launch of the Excel India Fund, the largest and longest running India-focused mutual fund in Canada, the Manager has been a Canadian leader in emerging market-focused mutual funds by offering a wide-range of innovative investment funds that capture new growth opportunities.

Through its network of sub-advisors, the Manager has access to the knowledge base of over 500 local portfolio managers and 200 analysts around the world. Its on-the-ground sub-advisors and proprietary asset allocation model contribute to the firm being "The Authority in Emerging Markets" in Canada.

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.


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 de-list from the TSX and to merge with Excel India 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.

SOURCE Excel Funds Management Inc.

For further information: Media & Information Contact: Caroline Grimont, Vice President, Marketing, 905-624-7744, caroline.grimont@excelfunds.com


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