Overview Excel India Trust is a closed-end investment trust. The Trust's investment objectives are to provide holders of Units with quarterly distributions (targeted to be $0.05 per Unit per quarter based on the offering's price of $10.00 per Unit); and long-term capital appreciation. In pursuing these investment objectives, the Trust will invest its assets primarily in equity securities of companies located in India through a "fund on fund" arrangement with India Excel (Mauritius) Fund. The Mauritius Sub fund will, in turn, invest most of its assets in India Excel (Offshore) Fund.
Cash Distribution
The following table outlines the breakdown of cash distributions per unit paid or payable by the Trust with respect to record dates for the period January 1, 2009 to December 31, 2009 for Canadian Income Tax purposes.
| Taxable Amount | Tax Deferred Amount | Total Cash Distribution | Record:
Mar. 31/09
Payment:
Apr. 15/09
| $0.00 | $0.05 | $0.05 | Record:
Jun. 30/09
Payment:
Jul. 15/09
| $0.00 | $0.05 | $0.05 |
Record:
Sep. 30/09
Payment:
Oct. 15/09
|
$0.00 |
$0.05 |
$0.05 |
Record:
Dec. 31/09
Payment:
Jan. 15/10
|
$0.00 |
$0.05 |
$0.05 |
| Total | $0.00 | $0.20 | $0.20 | Unitholders who held their Trust Units outside of a Deferred Plan, through a brokerage firm or other intermediary and received cash distributions during the period, will receive "T3 Supplementary" slips directly from their brokerage firm or intermediary, not from the transfer agent or the Trust. Registered Unitholders of Trust Units who received cash distributions during the period from the transfer agent, Computershare Trust Company of Canada, will receive "T3 Supplementary" slips directly from Computershare Trust Company of Canada (and not from a brokerage firm or intermediary). While Computershare Trust Company of Canada will strive to issue these information slips as soon as possible, the deadline for mailing all T3 Supplementary Information slips as required by Canada Revenue Agency is March 31, 2010. | |  | | Fund Details | Inception Date | July 17, 2007 | | TSX Symbol/Fund Code | EXI.UN | | Investment Type | Closed-End Investment Trust | Portfolio Advisors Excel India Trust is managed by Birla Sun Life AMC Ltd., formerly Birla Capital International AMC Ltd., which is one of the leading investment management companies in India, and has been ranked as one of India's best mutual fund management companies in terms of performance. Birla Sun Life is a joint venture between Sun Life Assurance Company of Canada and the Aditya Birla Group, one of India's leading Industrial houses. Birla Sun Life also manages the Birla Mutual Fund, one of India's largest private sector mutual funds. Sun Life Assurance Company of Canada is a leading financial services organization, providing a diversified range of risk management, wealth management and money management products for individuals and corporations worldwide. Ten per cent (10%) of the India Excel Fund will be managed by Excel Investment Counsel Inc. in Canada. These assets will be invested in Canadian securities with a special focus on Canadian companies doing business in India. Investment in Canada will provide greater liquidity for the India Excel Fund. |