TORONTO, Feb. 9, 2016 /CNW/ - Excel Funds Management Inc. (the "Manager") is pleased to announce the monthly distribution for Excel India Growth & Income Fund (the "Fund") of $0.04 per unit (with an annualized distribution of $0.48), for the month ending February 29, 2016. The above distribution will be paid on March 15, 2016 to unitholders on record as at February 29, 2016. The Fund has a current yield of 4.7%, as at January 29, 2016.
The Fund's investment objective is to provide unitholders with (i) the opportunity for capital appreciation; and (ii) monthly distributions. The Fund invests in an actively managed, diversified portfolio (the "Portfolio") comprised primarily of publicly-listed equity securities and investment grade corporate fixed income securities, in each case, issued by entities located in India. The Fund does not have a fixed monthly distribution amount but intends to, at least annually, set distribution targets based on the Manager's and portfolio manager's estimate of distributable cash flow for the period. All distributions are paid out to unitholders as cash distributions, unless the unitholder has opted in the dividend re-investment program (DRIP).
About Excel Funds Management Inc.
Excel Funds Management Inc. is a multiple Lipper Award winner specializing in emerging markets. Founded in 1998 with the launch of the Excel India Fund, the largest and longest-running India-focused mutual fund in Canada, Excel Funds has become a true leader in the emerging markets investment space by offering a wide-range of innovative investment products that capture new growth opportunities.
Leveraging a best-in-class investment team and an unrivalled network of sub-advisers, Excel Funds has access to the knowledge base of over 500 local portfolio managers and 200 analysts around the world. Its on-the-ground sub-advisers and proprietary asset allocation models contribute to the firm being recognized as "The Authority in Emerging Markets".
About the Birla Sun Life Group
The Fund's sub-adviser, Aditya Birla Sun Life Asset Management Company Pte. Ltd., an affiliate of Birla Sun Life Asset Management Company Limited (collectively, the "Birla Sun Life Group"), is India's fourth largest independent asset manager, with approximately USD $20 billion in assets under management.
Commissions, trailing commissions, management fees and expenses all may be associated with investment funds. Excel Funds Management Inc. does not guarantee any particular rate of return or the performance of the Fund, the repayment of capital from the Fund or any tax treatment of any distribution from the Fund. You should refer to the Fund's prospectus dated April 23, 2015 (the "Prospectus") of the Fund and other documents filed by the fund with Canadian securities regulatory authorities, available on SEDAR at www.sedar.com, for further information regarding the Fund.
All statements in this press release, other than statements of historical fact, and including statements regarding the future economic effects of events, are "forward-looking statements". These forward-looking statements reflect the current beliefs of the Fund's portfolio manager and are based on information available to the Fund as of the date of this update. Actual results may differ materially as they are subject to a number of significant risks and uncertainties, including those discussed under "Risk Factors" and elsewhere in the Prospectus. The Fund has no obligation to update or revise the forward-looking statements in this update. Past performance is not a reliable indicator of future results.
For further information, please contact your financial advisor, call our investor relations line at 1-888-813-9813 or visit our website at www.excelfunds.com.
SOURCE Excel Funds Management Inc.
Media & Information Contact: Caroline Grimont, Vice President, Marketing, 905-624-7744, caroline.grimont@excelfunds.com