Excel Funds Management Inc.

Excel Funds Management Inc.

November 01, 2007 09:35 ET

Excel Funds Partners with CIBC to Launch India and China Deposit Notes

TORONTO, ONTARIO--(Marketwire - Nov. 1, 2007) - Excel Funds Management Inc. ("Excel Funds") is pleased to announce that it has partnered with CIBC to offer the CIBC Excel India and China Deposit Notes, Series 1 (the "Notes"). This is the first principal protected investment product in Canada linked to Excel mutual funds that benefit from actively managed investments in both India and China. The Notes have a maximum offering size of $40 million.

The Notes provide investors with exposure to Excel India Fund and Excel China Fund (collectively the "Funds") by utilizing a dynamic allocation strategy within a principal protected investment product. The Notes' allocation strategy provides the potential for up to 150% exposure to the Funds, providing increased exposure to the Funds during periods of strong performance and reduced exposure to the Funds during periods of weak performance.

The investment objective of each Fund is to seek long-term growth of capital. The investment portfolio underlying the Excel India Fund is managed by Birla Sun Life Asset Management Company Limited based in Mumbai, India. Excel China Fund is managed by Hamon Asset Management Limited based in Hong Kong, China.

The Notes are 100% eligible for registered plans and are available through most financial advisors until December 14, 2007 unless the Notes' $40 million maximum offer size is reached prior to that date. The issue price is $100 per Note, with a minimum investment of $5,000. The Notes offer 100% principal protection provided by CIBC at maturity. The complete terms of the offering are set out in the information statement dated September 28, 2007, which can be obtained by investors from their advisors. Further information about the Notes can also be found at www.excelfunds.com and www.cibcnotes.com.

Founded in 1996, Excel Funds is a specialized fund management company that focuses on investment opportunities in emerging markets. Excel Funds manages highly ranked and award winning mutual funds; including the Excel India Fund, Excel China Fund, Excel Chindia Fund, Excel Income and Growth Fund and a TSX-listed closed end fund Excel India Trust. Excel Funds currently has approximately $750 million in assets under management.

CIBC is a leading North American financial institution with more than 11 million personal banking and business customers. CIBC offers a full range of products and services through its comprehensive electronic banking network, branches and offices across Canada, in the United States and around the world.

Contact Information

  • Excel Funds Management Inc.
    Avnee Patel
    Investor Relations
    Website: www.excelfunds.com