Excel Funds Management Inc.

Excel Funds Management Inc.

November 15, 2007 13:54 ET

Excel Funds Management Inc.: Big Rallies for India and China Stock Markets

TORONTO, ONTARIO--(Marketwire - Nov. 15, 2007) - India's Sensex index increased by 952 points for the biggest single-day gain ever on November 14, 2007 and closed at an increase of 893 points (+4.7%). Meanwhile in China, the Shanghai Index experienced the largest gain in three months, rising by 254 points (+4.9%) on the same day.

According to Moneypore, a leading stock broking firm in India suggest primary reasons for these gains to include:

- The US credit crisis eased after several top US executives reassured investors that the US banking system could withstand shocks from credit-related losses.

- Drop in crude oil prices.

- In India there were reports that a number of prominent overseas investors are applying for FII registration with the market regulator Securities and Exchange Board of India (SEBI).

- In India, the Left front may allow the government to negotiate a civilian nuclear agreement with the US.

Excel Funds Management Inc. ("Excel Funds") specializes in managing mutual funds that invest in India and China.

Excel India Fund

The Excel India Fund was launched in 1998 as a retail mutual fund in Canada. Excel India Fund uses an efficient fund-on-fund tax structure to minimize Indian withholding taxes on capital gains and to avoid certain investment restrictions that would otherwise apply to foreign investors investing in India. As a result of this structure, the Excel India Fund is able to offer investment exposure to the Indian equity markets similar to a domestic investor in India. For example, Excel India Fund has exposure to State Bank of India, India's largest commercial Bank; Bharat Heavy Electricals Ltd., the largest engineering and manufacturing enterprise in India; and Bharti Airtel, India's largest telecom services provider. All of the above three companies have reached the foreign aggregated limits.

The investment portfolio underlying the Excel India Fund is actively managed by Birla Sun Life Asset Management Company Ltd., one of the largest Investment Managers in India with approximately US$8.5- billion in assets under management.

"The Excel India Fund is one of the oldest India mutual funds in Canada, which has appreciated by 38.5% over a five-year period compounded annually as of October 31, 2007," says Mr. Bhim Asdhir, President and Chief Executive Officer, Excel Funds Management Inc.

Excel China Fund

Excel China Fund provides investors with exposure to equity securities of companies located primarily in China, Hong Kong and Taiwan. The fund is managed by Hamon Asset Management Limited, specializing in the equity markets of Asia since 1989. Hamon's bottom-up approach involves selecting well-managed, credit worthy companies that are under-researched and under-valued. Hamon has approximately US$2.5-billion in assets under management.

"Excel China Fund offers investors the best China Fund in Canada that earned the 2007 Lipper Award for best fund in the Asian ex-Japan category," states Mr. Asdhir.

Excel Chindia Fund

Excel Chindia Fund is a mutual fund that allocates it investments between the Excel India Fund and Excel China Fund. Excel Chindia Fund is the only retail mutual fund in Canada that offers investors the benefits of both the Indian and Chinese markets in one retail mutual fund.

Excel India Trust

Excel India Trust, employing the same fund-on-fund structure used by Excel India Fund, is the first TSX-listed closed end fund that is exposed to the Indian equity markets.

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, the Excel India Trust.

Excel India Fund performance as of October 31, 2007

1 year - 30.9%
3 year - 33.9%
5 year - 38.5%
Since Inception - 19.3%

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the simplified prospectus before investing. The indicated rates of return are the historical annual compounded total return including change in unit value and reinvestment of all distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any security holder that would have reduced returns. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. The rates of return shown above are used only to illustrate the effects of the compound growth rate and is not intended to reflect future values.

Contact Information

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