Excel Funds Management is listing eight of its mutual fund strategies on TSX NAVex, Toronto Stock Exchange’s (TSX) new mutual fund platform, to offer investors greater accessibility to its line-up of emerging market products.
"We are extremely excited to have been a part of this initiative with the TMX Group," says Bhim D Asdhir, president and CEO of Excel Funds. "Our funds will now be visible to all participants who currently trade TSX-listed securities. Additionally, the bulk trading capabilities supported by the platform are a major benefit to our investors."
Excel Funds was a select member of the TSX NAVex Working Group, made up of over 30 Canadian mutual fund managers, industry providers and TSX participating organisations, that the TMX Group consulted to develop the platform.
Launched in June 2016, TSX NAVex is a centralised system that brings together the full range of TMX Group's integrated equity services, including trading, clearing and settlement services, to address the evolving needs of the mutual fund industry. The platform facilitates purchases and redemptions of eligible mutual funds and provides an efficient new distribution channel to invest in a broad range of mutual fund products, such as those offered by Excel Funds.
"It is with great pride that we welcome Excel Funds, an innovator in the mutual fund industry, to the revolutionary TSX NAVex platform," says Kevin Sampson, managing director, equity trading, TMX Group. "Bringing Excel Funds on board as an early adopter is an important step in the advent of a new stakeholder-driven solution designed to better serve this vital and growing segment of Canada's marketplace."
Among the strategies that will be posted to the TSX NAVex platform by Excel Funds, via newly launched Series N units, are its flagship strategy, the Excel India Fund, which is the largest and longest-running India-focused mutual fund in Canada; the Excel High Income Fund, a unique strategy that invests in emerging market bonds as well as currencies, and has an overall 5-star rating from Morningstar Canada; and the Excel Latin America Fund, one of the few, actively managed funds in Canada that provides investors with direct access to LatAm equities.