Excel Latin America Bond Fund II announces IPO

Keywords Closed-end fundsCompanies Excel Funds Europe Blue-Chip Dividend & Growth Fund confirms termination date Digital Consumer Dividend Fund files IPO Related news Faircourt migrates two closed-end funds to NEO Share this article and your comments with peers on social media Facebook LinkedIn Twitter The offering price of the Class A and F units will be $10.00 and of the Class U units will be US$10.00. The Class F and U Units will not be listed on a stock exchange but will be convertible into Class A Units on a monthly basis. The fund will invest in a diversified portfolio consisting primarily of U.S. dollar denominated high yield fixed income securities issued by companies located in Latin America. It intends to make monthly distributions to unitholders; the distributions are initially targeted to be 7.80% per unit per year. Excel Funds and Excel Investment Counsel Inc., the fund’s portfolio manager, are part of the Excel Funds group, a Canadian pioneer in emerging market mutual fund investing, which manages 12 other investment funds focused on the emerging markets. BTG Pactual will act as sub-advisor in connection with the selection, purchase and sale of portfolio securities and other assets of the portfolio. BTG Pactual is one of Latin America’s leading independent asset managers and had over US$65 billion in assets under management as at Dec. 31, 2012. The syndicate of agents for the offering is being co-led by BMO Capital Markets, CIBC and RBC Capital Markets and includes National Bank Financial Inc., Raymond James Ltd., TD Securities Inc., Desjardins Securities Inc., Canaccord Genuity Corp., GMP Securities L.P., Dundee Securities Ltd., Mackie Research Capital Corp., Macquarie Private Wealth Inc., Manulife Securities Incorporated, Industrial Alliance Securities Inc. and Sherbrooke Street Capital (SCC) Inc. IE Staff Toronto-based Excel Funds Management Inc. reports that Excel Latin America Bond Fund II has filed a preliminary prospectus for the initial public offering of Class A, F and U units. The Class F units are designed for fee-based accounts and the Class U units are designed for investors wishing to make their investment in U.S. dollars.

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