Excel India Trust

Excel India Trust

March 19, 2010 09:27 ET

Excel India Trust (TSX:EXI.UN) Announces Quarterly Distribution and Corporate Update

TORONTO, ONTARIO--(Marketwire - March 19, 2010) - Excel Funds Management Inc. ("Excel") (TSX:EXI.UN) is pleased to announce the quarterly distribution of $0.05 per unit payable to the unitholders of the Excel India Trust (the "Trust"). The distribution will be paid on April 15, 2010 to unitholders of record on March 31, 2010.

Excel would also like to announce that the Excel India Fund ("Fund") may purchase units of the Trust when it has surplus funds to invest. The potential purchase of the Trust units by the Fund has been approved by the Excel Independent Review Committee and is subject to the following conditions:

  1. The objectives of the Fund and Trust do not change.

  2. The purchase price per unit is to be more than 2 percent below the net asset value of the Trust.

  3. The total units purchased will not exceed 10 percent of the outstanding units of the Trust.

  4. There is no duplication of management fees in the Fund and Trust.

Units of the Trust trade on the Toronto Stock Exchange under the symbol EXI.UN.

Founded in 1998, Excel is a specialized fund management company that focuses exclusively on investment opportunities in emerging markets. Excel also manages the Excel India Fund, Excel China Fund, Excel Chindia Fund, Excel Income and Growth Fund, Excel Money Market Fund, Excel Emerging Europe Fund, Excel Latin America Fund and Excel BRIC Fund. 

Contact Information

  • Excel Funds Management Inc.
    Paul Mesburis
    Investor Relations