CIBC Mellon Global Securities Services Company today announced its appointment by Excel Funds Management Inc. to act as custodian for the company’s family of mutual funds and the Excel India Trust.

“Excel Funds Management offers a series of growth-oriented mutual funds, which are designed to take advantage of the fast-paced growth of the world’s developing markets. We are an innovative company and it was important for us to identify a partner who shares this philosophy,” said Bhim Asdhir, president and CEO of Excel Fund Management Inc., in a news release. “CIBC Mellon’s superior technology, and global service capabilities made this appointment a logical next step for us as we move into the next phase of our company’s growth.”

“We are pleased to be Excel Fund Management’s service provider of choice, providing global asset servicing, including fund accounting, and foreign exchange capabilities for their Canadian products,” said Thomas MacMillan, president and chief executive officer, CIBC Mellon.

Founded in 1998, Excel Funds is a specialized fund management company that focuses exclusively on investment opportunities in emerging markets. Excel currently has approximately $600 million in assets under management.

CIBC Mellon is a 50-50 joint venture between Canadian Imperial Bank of Commerce and Mellon Financial Corp.