Mississauga, Ont.-based Excel Funds Management Inc. announced that it has obtained regulatory approval to merge Excel Blue Chip Equity Fund into Excel Emerging Markets Balanced Fund — an open-ended mutual fund — as of Nov. 10.

Excel predicts that the merger will be completed on or about Nov. 24. Once merged, Excel Blue Chip Equity Fund will be terminated.

The merged fund, Excel Emerging Markets Balanced Fund, will aim to provide current income and long-term capital appreciation by investing mainly in a diversified mix of equity and income mutual funds, which are predominantly emerging markets in nature.