Toronto-based Excel Funds Management Inc. is proposing to streamline is mutual fund lineup, with two sets of fund mergers, the company announced on Thursday.

Excel plans to merge Excel Latin America Bond Fund (TSX: ELA.UN) and Excel Latin America Bond Fund II (TSX: ELB.UN) into Excel High Income Fund, an open-ended mutual fund.

Excel High Income Fund is co-advised by Excel Investment Counsel Inc. and Paris-based Amundi S.A.

“Bringing these assets into Excel High Income Fund will provide unitholders with access to Amundi S.A., one of the largest asset managers in the world, along with greater diversification and economies of scale,” says Bhim Asdhir, president and CEO of Excel Funds.

These proposed mergers are subject to unitholder approval to be determined at a special meeting scheduled for Aug. 24.

If unitholders approve the mergers, Excel Funds will apply to de-list the units of both terminating funds from the Toronto Stock Exchange (TSX) prior to the proposed merger date.

Excel Funds also announced its intention to merge Excel Emerging Europe Fund into Excel Emerging Markets Fund, subject to obtaining unitholder and regulatory approvals. If approved, that merger will take effect on or about Aug. 17.

If that proposed merger is approved, unitholders of each series of Excel Emerging Europe Fund will receive securities of the equivalent series of Excel Emerging Markets Fund, determined on a dollar-for-dollar basis. Units of Excel Emerging Europe Fund will no longer be offered for sale after the close of business today, except for units purchased under a pre-authorized chequing plan (PAC). Excel Emerging Europe Fund will be wound up as soon as possible following the merger, Excel Funds says.

Unitholder approval for Excel Emerging Europe Fund will be sought at a special meeting to be held on Aug. 13.

The independent review committee of each of the funds involved in the two sets of mergers has reviewed the potential conflict of interest matters related to the proposed merger, Excel Funds says, and has provided a positive recommendation for the mergers after determining that the mergers, if implemented, achieves a fair and reasonable result for the funds.