Excel Investment Counsel Inc. will replace Toron Capital Markets Inc. as portfolio manager of Excel Income and Growth Fund effective December 7, Excel Funds Management said Wednesday.

Excel Investment Counsel is the portfolio management affiliate of Excel Funds.

Paul Mesburis, senior portfolio manager and chief compliance officer at Excel Investment Counsel will assume portfolio management responsibilities for the fund.

Mesburis has over 15 years of capital markets experience, and has been managing investment portfolios since 2005. He has previously served as vice president and portfolio manager at a Canadian-based asset management company. He earned his MBA from the Schulich School of Business at York University and a B.A. from the University of Toronto. Mesburis is a Chartered Accountant (Ontario) and CFA charterholder.

Toronto-based Excel Funds focuses on investment opportunities in emerging markets.

IE