Excel Funds Management, a Canada-based mutual fund company, has merged the Excel India Fund with the Excel India Trust, an open-ended mutual fund managed by Excel.
Excel Funds Management said that unitholders of the Excel India Trust can determine their Excel India Fund holdings by multiplying the number of units they held in the Excel India Trust by 0.365848.
The adjusted cost base of the Excel India Fund units issued to the Excel India Trust investors is $23.9485 per unit.
According to Excel, as a result of the merger unitholders will get enhanced liquidity as they will now have the continuous right to purchase and redeem units of the Excel India Fund on a daily basis at the Fund’s net asset value.
Unitholders of the Excel India Fund will also able to switch from their Series A units of the Fund into other mutual funds offered by Excel.
Excel is a specialized fund management company which focuses on investment opportunities in emerging markets.
Excel manages the Excel China Fund, Excel Chindia Fund, Excel Income and Growth Fund, Excel Money Market Fund, Excel Emerging Europe Fund, Excel Latin America Fund and Excel BRIC Fund.