TORONTO, Sept. 9, 2016 /CNW/ - Excel Funds Management Inc. (the "Manager") is pleased to announce the monthly distribution for Excel India Growth & Income Fund (the "Fund") of $0.04 per unit (with an annualized distribution of $0.48), for the month ending September 30, 2016. The above distribution will be paid on October 14, 2016 to unitholders on record as at September 30, 2016. The Fund has a current yield of 4.5%, as at August 31, 2016.
The Fund's investment objective is to provide unitholders with (i) the opportunity for capital appreciation; and (ii) monthly distributions. The Fund invests in an actively managed, diversified portfolio (the "Portfolio") comprised primarily of publicly-listed equity securities and investment grade corporate fixed income securities, in each case, issued by entities located in India. The Fund does not have a fixed monthly 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 for the period. All distributions are paid out to unitholders as cash distributions, unless the unitholder has opted in the dividend re-investment program (DRIP).
About Excel Funds Management Inc.
Excel Funds Management Inc. 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, Excel Funds has become a true leader in the emerging markets investment space by offering a wide-range of innovative investment products that capture new growth opportunities.
Leveraging a best-in-class investment team and an unrivalled network of sub-advisers, Excel Funds has access to the knowledge base of over 500 local portfolio managers and 200 analysts around the world. Its on-the-ground sub-advisers and proprietary asset allocation models contribute to the firm being recognized as "The Authority in Emerging Markets".
About the Birla Sun Life Group
The Fund's sub-adviser, Aditya Birla Sun Life Asset Management Company Pte. Ltd., an affiliate of Birla Sun Life Asset Management Company Limited (collectively, the "Birla Sun Life Group"), is India's fourth largest independent asset manager, with approximately USD $21 billion in assets under management, as at December 31, 2015.
Commissions, trailing commissions, management fees and expenses all may be associated with investment funds. Excel Funds Management Inc. does not guarantee any particular rate of return or the performance of the Fund, the repayment of capital from the Fund, or the tax treatment of any distribution from the Fund. You should refer to the Fund's prospectus dated April 23, 2015 (the "Prospectus"), available on SEDAR at www.sedar.com, for further information regarding the Fund.
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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