The firm’s two new ETFs use asset-class management to provide better diversification
The ETFs will employ a risk-budgeting, quantitative investment strategy with global diversification
The funds share similar objectives and will retain the same manager
Five of Excel Funds’ mutual funds will be available in Series D units, which have lower management fees, through various discount brokerages
Name change at Excel; NEI terminates one fund
Both new funds are managed by India-based Aditya Birla Sun Life
Memorandum signed with ABSLAMC will allow Excel Funds to offer direct access to infrastructure, real estate and private equity in India
The new funds aim to benefit from the acceleration in India’s economic growth and favourable investment conditions for the country
The merger, if approved, would be effective on or about Feb. 15, 2016
The firm has also hired Christophe Vandewiele to oversee its entry into the institutional market