Toronto-based Excel Funds Managements Inc. intends to merge Excel BRIC Fund with Excel Emerging Markets Fund, subject to regulatory and unitholder approvals. A special meeting will be held for unitholders on or about Feb. 11. The merger, if approved, will be effective on Feb. 15. Unitholders of the BRIC fund will receive units of the emerging-markets fund on a dollar-for-dollar basis. Advisor commissions for Excel Emerging Markets Fund are 0%-5% 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 1.25% for F-class units. Minimum investment is $250.
(fcollie@investmentexecutive.com).
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