Excel Funds Management Inc.

Excel Funds Management Inc.

October 17, 2007 16:33 ET

Excel India Fund Market Update

TORONTO, ONTARIO--(Marketwire - Oct. 17, 2007) - The Indian markets dropped 1.8 % after the Securities and Exchange Board of India announced their decision to tighten rules for the purchase of shares and bonds in local companies through the use of offshore derivative instruments. The Sensex has surged by 22.8% over the past one month period and today's decline of 1.8% is marginal.

The Excel India Fund has an efficient structure where it is treated as a domestic investor and therefore the impact is limited to that extent. We are not investing in India through derivatives nor as a Foreign Institutional Investment.

Excel Funds Management Inc. is a specialized fund management company that focuses exclusively on investment opportunities in Emerging Markets. Excel Funds Management Inc. manages more than $500-million in India through its open ended Excel India Fund and closed end Excel India Trust. The Excel India Fund has appreciated by 35% over a 5 year period compounded annually as of September 30, 2007. The India Funds are managed in India by Birla Sunlife Asset Management Company Ltd, which employs a bottom-up approach for its stock picking.

"India is a long term growth story and any short term drop in the markets are great buying opportunities. The best way to invest in India is to invest throughout the year and double up on the dips. The fundaments of the India Story are also strong," says Bhim D. Asdhir, President and CEO of Excel Management Funds Inc.

India's per capita GDP is expected to quadruple by 2020. India's GDP over the last 12 months grew by 9.3% and averaged 8.6% over the last four years.

This represents a an increase that is 3 times more than original BRIC projections. In the last quarter the earnings of the top 500 companies grew by 48% year over year. The growth in India is being driven by the consumption boom, Infrastructure development and exports.

Excel Funds Management Inc. has managed highly ranked and award winning funds, including the Excel India Fund, Excel China Fund, Excel Chindia Fund, Excel Income and Growth Fund and Excel India Trust that is trading on the TSX. Excel Funds currently has over $750 million in assets under management.

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