Excel Funds Management Inc. is replacing Toron Capital Markets Inc. as portfolio advisor for five of its Funds.

Toron will continue to act as portfolio adviser for the Excel India Fund, Excel Chindia Fund, Excel Latin America Fund, Excel Money Market Fund and Excel India Trust until the end of July.

It is anticipated that Excel Funds’ lead portfolio manager Paul Mesburis will take over the responsibilities of portfolio adviser for the five funds, in conjunction with the respective fund sub-advisors.

Toron will continue to act as portfolio advisor for the Excel Income & Growth Fund.

IE