Excel India Fund

Excel India Trust

Excel India Trust

August 30, 2010 15:51 ET

Merger of Excel India Fund and Excel India Trust

TORONTO, ONTARIO--(Marketwire - Aug. 30, 2010) - Excel Funds Management Inc. ("Excel") is pleased to announce that the merger of the Excel India Fund (the "India Fund") (TSX:EXI.UN) with the Excel India Trust (the "India Trust"), an open-ended mutual fund managed by Excel, was successfully completed on Friday, August 27, 2010.

Unitholders of the India Trust can determine their India Fund holdings by multiplying the number of units they held in the India Trust by 0.365848. The adjusted cost base of the India Fund units issued to the India Trust investors is $23.9485 per unit. There are no costs charged for the merger with the India Fund, nor on redemptions of the India Fund units. For income tax purposes, the proceeds of disposition for Trust unit holders is $8.7615 per unit.

Excel believes that the merger provides unitholders with enhanced liquidity because they now have the continuous right to purchase and redeem units of the India Fund on a daily basis at the Fund's net asset value. Unitholders of the India Fund are also able to switch from their Series A units of the Fund into other mutual funds offered by Excel.

India has a growth potential of over 8% for the next decade. According to a recent study from Morgan Stanley, India's growth may accelerate to 9.5% from 2011 to 2015.

The Excel India Fund is your best choice for investing in India. The Fund has a unique, tax-efficient structure that is grandfathered. It is considered a "domestic fund" in India which means its investments are not limited by the Foreign Institutional Investors (FII) rules. This provides unitholders in the Excel India Fund with a significant investment advantage.

To July 31, 2010 1 YR 3 YR 5 YR 10 YR Since Inception (April 14, 1998)
Excel India Fund 19.8% -1.7% 8.6% 8.3% 13.5%
BSE Sensex Index 13.9% 0.1% 14.5% 12.8% 9.9%
MSCI EM Index 14.4% -2.4% 9.3% 7.1% 5.8%
S&P/TSX Index 11.7% -2.6% 5.2% 3.5% 5.5%

Founded in 1996, Excel is a specialized fund management company which focuses on investment opportunities in emerging markets. Excel carefully selects and manages sub-advisers who are "on-the-ground", resident in the countries in which Excel invests, with their fingers on the pulse not only of the local economy, but of the individual investee companies as well. Excel's sub-advisers employ a bottom-up, stock selection approach based on strong, systematic research capabilities. These investment experts also spend a great deal of time in the field meeting with investee companies, their customers, suppliers, employees and competitors, both before and after they invest. The Excel Funds invest in many - but not all - companies that are listed on the investee countries' indices, - and some that are not listed. The focus is on companies that are growing and globally competitive.

Excel also manages the 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.

More information about the Excel India Fund's investment strategies and fees and expenses is set out in its simplified prospectus which is available on SEDAR at www.sedar.com and Excel's website www.excelfunds.com.

Contact Information

  • Excel Funds Management Ltd.
    Paul Mesburis
    Investor Relations