Excel Funds Management Inc.

Emerging Markets

Excel India Fund Holdings lead Sensex Gains

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The 30-share Senxes gained over 200 points to rise to its highest level since April 3 on hopes the RBI will be lowering interest rates.  Holdings in our Excel India Fund led the gains with Tata Motors rising 3.8% while State Bank of India and ICICI Bank surged more than 2%.  Other gainers include Infosys which rose more than 2% and ITC which went up over 1%.

The sentiment is based on hopes the RBI will be pressured into lowering interest rates after Finance Minister P. Chidambaram said high borrowing costs were burdening consumers.   Inflow of foreign money also aided the rally as foreign institutional investors have bought more than RS 4,000 crore worth of India equities in the previous seven sessions.  The Indian rupee appreciated to 55.26 against the US dollar today.

The BSE Sensex rose 1.28% to 17,635.48 points while the 50-share Nifty gained 1.25%.  Stocks sensitive to interest rates led the gains but even technology majors like TCS and Infosys gained as India’s economy continues to strengthen.

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Author: Excel Funds Management

We Are Leaders. Our Focus is Undivided. Excel Funds is Canada’s specialist in Emerging Market investment opportunities. We pioneered Emerging Market mutual fund design and distribution in Canada. Our focus is undivided – Emerging Markets is all we do. Our Mission Is To Offer Canadians True Global Access By offering Canadians access to rapid growth markets, Excel Funds provides truly global and diverse investment value. Our clients want consistent, responsible and intelligent solutions – we will never stop being challenged and deliver on client expectations. We Listen. We Are Determined To Deliver. Our clients want to understand better. Excel Funds is the only company dedicated to providing investors with actively managed, best-in-class Portfolio Managers based in regional markets. In order to deliver deeper understanding, we are not removed from unique cultural, political and economic experiences. We Initiate. We Create. Investors benefit from strong, sustainable growth. To create wealth for our clients we will: • Offer globally diverse opportunities to capture shifts in world economies • Not resist change and continually lead in Emerging Markets global growth • Engage world class institutional managers for retail investors We Are Passionate. We Will Never Stop Innovating. True leadership is enabling and seeks a positive outcome for all invested. We will not rest on past success, and continue to provide clients with: • Innovative fund structures • Canada’s largest & most comprehensive Emerging Markets products • The best institutional level Portfolio Managers • World class on-the-ground active managers • A singular focus on Emerging Markets, the driver of global growth

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