Excel Funds Management Inc.

Excel Funds Management Inc.

June 09, 2006 12:11 ET

Excel Funds Management Inc.: Bargain buying in India and China

TORONTO, ONTARIO--(Marketwire - June 9, 2006) –

Attention Business Editors:

The latest month has seen a global sell off and India and China have not been spared. Yet, despite this, "India and China are in the midst of the biggest economic transformation since the Industrial Revolution that shaped the world in the eighteenth and nineteenth centuries," says Mr. Bhim Asdhir, President and CEO of Excel Funds Management Inc.

During the most recent quarter, GDP growth was a whopping 9.3% for India and 10.3% for China.

"We suggest that this may be an exceptionally good entry point, as valuations have become more attractive. Indian equities are now trading at 13.5X FY07 earnings vs. the historical mean of 22X. Buyers should know that many bargains are beginning to appear in India," says Mr.Asdhir.

Yesterday saw the biggest single day gain in the history of the Bombay Sensitive Index with a rise of 515 points to close at 9,810.

In India, it is business as usual, with robust economic and market fundamentals continuing to lead the way. "Companies like General Electric, IBM, Microsoft, Intel, Cisco Systems, JP Morgan Asset Management and Motorola are investing billions of dollars in India." says Mr. Asdhir.

Excel Funds specializes in investing in India and China. Excel India Fund is Canada's only mutual fund that invests purely in India, providing Canadian investors with access to India's blue chip companies. The fund is managed by Birla Sun Life AMC Ltd., Sun Life Financial's 50% joint venture with India's largest conglomerate, AV Birla Group, in Mumbai.

Contact Information

  • Excel Funds
    Pierre Daillie
    National Sales Manager
    (905) 363-1003 or 1-888-813-9813
    Website: www.excelfunds.com