Mississauga, Ont.-based Excel Funds Management Inc. today announced that China Asset Management Co., Ltd. (China AMC) has been appointed as a sub-advisor to manage a minority portion of the assets of Excel China Fund, effective February 1.
Established in 1998, China AMC is one of the initial nation-wide fund management companies approved by the China Securities Regulatory Commission (CSRC). China AMC is also the largest asset manager in China with total assets under management of more than US$56 billion as at June 30, 2013. It provides services to both domestic and foreign clients in equity and fixed income markets, and has a wide client base consisting of more than 200 institutional investors and 16 million retail investors.
London-based Baring International Investment Ltd. and Hong Kong-based Baring Asset Management (Asia) Ltd. continue as sub-advisors to the remaining assets of the fund.
Excel says the investment objective and strategies of the fund remain unchanged.
Excel China Fund seeks long-term superior growth of capital by investing the majority of its assets in equity securities of companies located in China, Hong Kong, Taiwan and other Far East countries.