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TORONTO, March 25, 2013 /CNW/ - Excel Funds Management Inc. (the "Manager"), the manager of Excel Latin America Bond Fund (the "Fund"), announced that it is currently reviewing the implications to the Fund of the measures in the federal budget announced on March 21, 2013. Such measures will affect certain tax benefits gained by taxable unitholders of investment funds, such as the Fund, that utilize forward purchase and sale agreements to obtain exposure to an underlying reference portfolio. Based on its review to date, the Manager believes that the Fund's current structure will remain intact and will be unaffected by the budget proposals until the expiration of the forward agreement in June 2017. The Manager awaits further guidance from the Federal Government on the implementation of the budget proposals and will provide additional details as soon as it is in a position to do so.
The Manager is also reviewing the implications of such measures to the Fund's previously announced treasury offering of Class A, Class F and Class U units, for which a preliminary prospectus was filed on February 27, 2013, and will provide additional details as soon as it is in a position to do so.
Certain statements contained in this news release constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to the future outlook of the Fund and anticipated distributions, events or results and may include statements regarding the future financial performance of the Fund. In some cases, forward-looking information can be identified by terms such as "may", "will", "should", "expect", "anticipate", "believe", "intend" or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information.
The Fund's securities have not been registered under the U.S. Securities Act of 1933, as amended, or any state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities within the United States.
SOURCE: Excel Funds Management Inc.
For further information:
For further information, please contact Excel's Chief Compliance Officer at 1-888-813-9813 or visit our website at www.excelfunds.com.
Chief Compliance Officer
Excel Funds Management Inc.