Hong Kong-based China Asset Management Co. Ltd. will take on all subadvisor responsibilities for Excel China Fund as of Nov. 27, 2015. Mississauga, Ont.-based Excel Funds Management Inc. announced in October that London-based Baring International Investment Ltd. and Hong Kong-based Baring Asset Management (Asia) Ltd. would no longer co-advise the fund with China AMC as of that date. Established in 1998, China AMC uses a “research creates value” philosophy and employs almost 200 investment researchers and portfolio managers. Excel China Fund’s objective is to achieve long-term capital growth through investments in equities securities of companies based in China, Hong Kong, Taiwan and other Far East countries. Advisor commissions are 0%-5% for front-end sales, 5% for deferred sales or 2% for the low-load option. Redemption fees begin at 5.75% in Year 1 and end at zero after Year 7 for the regular DSC schedule; or begin at 2.5% in Year 1 and end at zero after Year 3 of the low-load schedule. Trailing commissions are 1% for front-end sales; 0.5% for the first seven years of deferred sales, and 1% thereafter; and 0.75% for the first three years of low-load sales, and 1% thereafter. Management fees are 2.5% for A-class units and 1.5% for F-class units. Minimum investment is $250. Excel Funds also launched Excel Billionaire Leaders Fund. This fund invests in 40 to 50 companies owned by billionaires that have free cash flow, solid financial productivity, scalable business models and superior earnings per share growth, according to Christine Tan, senior portfolio manager with Excel Investment Counsel Inc. Visit www.excelfunds.com for fee details.
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