TORONTO, September 19th, 2012 – Excel Funds Management Inc. (“Excel”) is pleased to announce the tax – advantaged distribution for the quarter ended September 30, 2012 of $0.21923 per unit for the Excel Latin America Bond Fund (the “Fund”). The distributions will be payable on October 15, 2012 to unit holders of record on September 30th, 2012. The distribution for the quarter ended September 30, 2012 is higher than the targeted quarterly distribution of $0.19375 per unit (an annualized expected yield of 7.75%) as it has been pro-rated from the period June 19, 2012 (date of inception of the Fund) to September 30, 2012.
Since the Fund’s launch on June 19th, 2012, its units have consistently traded above both its Net Asset Value per unit (“NAV”) and its $10.00 issue price.
Excel is Canada’s only emerging markets focused mutual fund provider and the Excel Investment Council Inc. (the “Portfolio Manager”) is a multiple Lipper Fund Award winner. Pioneering emerging markets investing over 14 years ago, Excel has been partnering exclusively with best-in-class, on-the-ground portfolio managers that bring Canadian investors first hand insight and expertise in these flourishing economies. Excel proudly calls itself Your Authority in Emerging Markets.
BTG Pactual, the Fund’s sub-advisor, is one of Latin America’s leading independent asset managers and had over U.S. $45 billion in assets under management as at December 31, 2011. Standard and Poor’s has awarded them the 2011 and 2012 Best Fixed Income Fund Manager distinctions.
About Excel Latin America Bond Fund
The Fund’s investment objectives are to (i) provide quarterly tax-advantaged distributions consisting primarily of returns of capital; and (ii) preserve and provide the opportunity to increase the net asset value of the Fund, in each case, through exposure to an actively managed, diversified portfolio consisting primarily of U.S. dollar denominated fixed income securities issued by companies located in Latin America, with an initial focus on Brazil. The Portfolio Manager intends to hedge substantially all of the value of the portfolio to the Canadian dollar.
Units of the Fund trade on the Toronto Stock Exchange under the symbol ELA.UN.
For further information, please contact your financial advisor, call our investor relations line at 1-888-813-9813 or visit our website at http://www.excelfunds.com.
Chief Compliance Officer
Excel Funds Management Inc.
Certain statements contained in this news release constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to the future outlook of the Fund and anticipated distributions, events or results and may include statements regarding the future financial performance of the Fund. In some cases, forward-looking information can be identified by terms such as “may”, “will”, “should”, “expect”, “anticipate”, “believe”, “intend” or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information.
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, or any state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities within the United States.