Excel Funds Management Inc. has filed a preliminary prospectus for Excel India Balanced Fund and Excel New India Leaders Fund.
The Excel India Balanced Fund will target current income and long-term capital appreciation by investing in an actively-managed, diversified portfolio comprised primarily of publicly-listed equities and investment-grade fixed-income securities, issued in India. Initially, it will pay an annual distribution, estimated in the range of 4%.
“In addition to high-quality Indian equities, the fund offers access to the Indian fixed-income market which, previously, was not readily accessible to Canadian investors,” says Christine Tan, CIO with Excel Investment Counsel Inc. “The Indian fixed-income market offers attractive yields, underpinned by a liquid market and highly rated issuers.”
The Excel New India Leaders Fund seeks long-term growth by investing primarily in equity securities of companies located in India. The fund will target a concentrated set of under-researched and under-valued stocks to help generate alpha.
The funds will be actively managed by Birla Sun Life AMC Limited.