Canada's largest Indian-focused mutual fund is
currently No.1
TORONTO, Nov. 27, 2014 /CNW/ - Excel Funds Management Inc.
("Excel Funds") is pleased to announce that the Excel India Fund is
expected to maintain its industry leading performance as the Indian
equity market climbs higher.
Established in 1998, the Excel India Fund is currently the
largest and longest-running mutual fund in Canada, focused solely on investing in
India. For the 1 year period
ending October 31, 2014, the Fund is
up 51.1% making it the best performing mutual fund in Canada, according to the GlobeFund and
Morningstar Canada websites.
Falling inflation and lower interest rates have been accompanied
by accelerating economic growth in India, which is on track to reach an annual
rate of approximately 7% to 8%. According to Bhim D. Asdhir,
President and Chief Executive Officer of Excel Funds, comprehensive
reforms introduced by India's new
majority government is a recipe for success. They will remove the
barriers to growth, support massive infrastructural development,
improve the legal, tax and regulatory systems, promote greater
mobility of capital and encourage foreign and private
investments.
India, the world's largest
democracy, imports a majority of its oil requirements whose price
reached a 4-year low following today's surprising OPEC announcement
that it will maintain its production ceiling of 30 million barrels
per day.
"We believe that Indian equities will continue to surge on the
back declining inflation, and consequently lower interest rates,
resulting from falling oil prices – potentially enhancing the
performance of the Excel India Fund," says David Kunselman, Senior Portfolio Manager at
Excel Investment Counsel Inc.
"Falling oil prices in particular, combined with a decline in
the price of gold, another large Indian import, has resulted in
consumer-price inflation falling to a 5 year low of 5.5%
currently," says Kunselman. "This, according to analysts, could
lead to a cut in interest rates as early as next Tuesday," he
adds. He claims that "although Indian equities are rising,
their valuations remain attractive, supported by an acceleration in
corporate earnings."
The Excel India Fund is managed on-the-ground by Birla Sun Life
Asset Management, one of the largest and most respected asset
managers in India , who have
first-hand knowledge and direct access to the companies in which
they invest in.
About Excel Funds
Established in 1998, Excel Funds is a pioneer in investing in
emerging markets in Canada, offering the widest selection of
emerging markets funds to Canadian investors. Through its network
of sub-advisors, Excel Funds has access to over 200 local portfolio
managers and analysts around the world. Excel Funds on-the ground
sub-advisors, proprietary asset allocation model and best-in-class
portfolio managers contribute to the firm being recognized as "The
Authority in Emerging Markets" in Canada.
SOURCE Excel Funds Management Inc.