Excel Funds Management Inc.

Excel Funds Management Inc.
Excel Latin America Fund

December 18, 2008 10:21 ET

Excel Funds Launches Latin America Fund

TORONTO, ONTARIO--(Marketwire - Dec. 18, 2008) - Excel Funds is pleased to announce the launch of the Excel Latin America Fund to be sub-advised by Banco Itau Asset Management, the leading asset manager in the region and a subsidiary of Banco Itau, the number one bank in Latin America by market capitalization.

Excel Funds Brings Award Winning Manager Itau to Canada

Banco Itau is the largest financial institution in Latin America by market capitalization, with more than 24 million clients spread across 3,600 branches and total assets of US$208.7 billion. The company has been awarded the title of "Best Brazilian Bank" numerous times this decade by Euromoney, Latin Finance, The Banker, and Global Finance. Banco Itau is on Fortune magazine's top 500 list of corporations.

Itau Securities (Brokerage House) has the largest research coverage in Brazil with 66 analysts covering over 150 companies. Itau Asset Management was voted the "Best Equity Fund Manager" in Brazil by ValorInveste/S&P from 2004 to 2008.

Excel Funds is the Authority in Emerging Market Investments

The launch of Excel Latin America Fund represents an important development for Excel Funds, solidifying its 10 year hold on the leadership position of fund management company with exclusive focus on emerging markets. "This Fund rounds out our product platform for investors wanting to invest in the fastest growing markets around the world," says company President Bhim D. Asdhir. "We are excited to bring award winning money managers Banco Itau to Canadian investors."

Latin America represents a Long Term Growth Opportunity

Latin America encompasses a massive geographic and political region, in the midst of an economic transformation that will see it evolve into one of the world's most important centres of global commerce driven by consumption growth, industrialization and a profound commodities production base. "This Fund presents investors with a very exciting long term growth opportunity, alongside our existing funds which provide investors exposure to the growing economies of India, China and Russia," says Mr. Asdhir.

On the basis of market capitalization the region is dominated by Brazil (61%), Mexico (29%) and Chile (7.6%). Thus, Brazil's equity market will represent the largest allocation in Excel Latin America Fund, followed by Mexico and then Chile.

Brazil is the world's tenth largest economy and Mexico the eleventh. Brazil is one of the fastest growing economies in the world with a rapidly growing middle class and one of the largest consumer markets globally. For example, it is the third largest mobile phone market and fourth largest computer market. Mexico's already strong middle class represents a more developed consumer market growth opportunity for investors to participate in.

Brazil boasts investment grade credit ratings from Standard and Poor's and Fitch Ratings due to its low and declining ratio of debt relative to GDP, high level of foreign exchange reserves, and primary budget surplus.

"The emerging markets are poised to rebound sooner and stronger than developed markets and our funds are well-positioned to participate in the gains of the inevitable upswing." adds Mr. Asdhir.

About Excel Funds

Founded in 1998, 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 Excel India Fund, Excel China Fund, Excel Chindia Fund, Excel Income and Growth Fund, Excel Emerging Europe Fund, Excel Money Market Fund and Excel India Trust (EXI.UN), a TSX-listed closed-end fund.

For further information about these mutual funds, please contact Colleen Curtis, Director of Sales, Excel Funds at 1-888-813-9813 or visit our website at www.excelfunds.com, or contact your investment adviser.

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