TORONTO, May 11, 2017 /CNW/ - Excel Funds Management Inc. is pleased to announce that it has filed the final prospectus to launch its actively managed Exchange Traded Funds (ETFs), the Excel Global Balanced Asset Allocation ETF ("EXGB") and the Excel Global Growth Asset Allocation ETF ("EXGG"). A receipt for the final prospectus has been issued by the securities regulatory authorities in each of the provinces and territories of Canada. Units of the ETFs have been conditionally approved for listing by the Toronto Stock Exchange ("TSX") and are slated to begin trading on May 17, 2017, under the ticker symbols EXGB and EXGG.
"As a pioneer in actively-managed core and specialty emerging market funds, the launch of these ETFs reaffirms our commitment to providing our investors with a diverse suite of actively managed solutions to meet their unique investment objectives," says Bhim D. Asdhir, President & CEO of Excel Funds Management Inc. "These first of a kind quantitative ETFs in Canada combine behavioural science and big data to facilitate the most effective asset allocation decisions," he adds.
The Excel Global Balanced Asset Allocation ETF aims to achieve a targeted annual return of 2.5% over the Bank of Canada Overnight Lending Rate over a rolling two to three-year period, before deduction of fees and expenses, while targeting portfolio volatility to, approximately, a range of 4-6%.
The Excel Global Growth Asset Allocation ETF Excel Global Growth Asset Allocation ETF aims to achieve a targeted annual return in excess of 5% over the Bank of Canada Overnight Lending Rate over a rolling three to five-year period, before deduction of fees and expenses, while targeting portfolio volatility to, approximately, a range of 8-9%.
In addition to a positive target upside return, each of the two ETFs will also have a risk budget and will be dynamically rebalanced to ensure adherence to the defined risk and targets.
In launching its ETFs, Excel is the first Canadian fund manager to leverage the expertise and proprietary mathematical models of the London, England headquartered firm, Alken Asset Management. The firm's subsidiary, Cabestan Quant Research Ltd. uses highly-sophisticated, quantitative models to make asset allocation decisions and manage risk, differentiating it from its peers.
The ETFS will close the initial offering of units to their designated broker after the close of business on May 16, 2017, prior to the initial listing of the units on the TSX on May 17, 2017.
Excel will be hosting live information sessions for advisors about its two ETFs at the following locations:
Tuesday May 16: Reception event at the Sheraton in Montreal (5pm – 7 pm)
Wednesday May 24: Lunch event at the Toronto Board of Trade, (12 noon – 1.30 pm)
Advisors can register for these events at www.excelfunds.com.
About Excel Funds Management Inc
Established in 1998, Excel Funds Management Inc. is a multiple award-winning investment manager. The company offers actively-managed core and specialty investment solutions to retail and institutional investors, including access to the largest suite of emerging markets investments in Canada. Excel's primary focus is on generating diversified sources of return to help clients achieve their short- and long-term outcomes. The company's strategic alignment with active, on-the ground sub-advisors who work in collaboration with its in-house managers, enhances the depth and breadth of its portfolio management team. Through its sub-advisor network, Excel benefits from the expertise and knowledge base of over 600 portfolio advisors who collectively manage over USD$1.5 trillion in assets.
Certain statements contained in this news release constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to a future outlook and anticipated distributions, events or results and may include statements regarding future financial performance. 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. Excel Funds Management Inc. undertakes no obligation to update publicly or otherwise revise any forward-looking statement whether as a result of new information, future events or other such factors which affect this information, except as required by law.
This offering is only made by prospectus. The ETFs' prospectus contains important detailed information about the securities being offered. Copies of the prospectus may be obtained from your registered financial advisor. Investors should read the prospectus before making an investment decision.
SOURCE Excel Funds Management Inc.
Caroline Grimont, Senior Vice President, Sales and Marketing, 905‐624-7744, [email protected]; Kristina Tomasovic, Media Contact, 905-624-7746, [email protected]
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