Excel Emerging Europe Fund is the first mutual fund in Canada to offer investors the opportunity to capitalize on the growing Eastern European markets. The investment objective of the Excel Emerging Europe Fund is to seek long-term capital appreciation by investing primarily in equity securities of companies located in or otherwise benefiting from the emerging markets of Europe. Such markets could include, but are not limited to, Russia, Turkey, Poland, Austria, Hungary, Romania, Slovakia, Czech Republic, Croatia, Estonia and Ukraine.