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In just one year under the visionary leadership of Prime Minister Narendra Modi, India has been catapulted into the global spotlight. It has shed its image as a country plagued by cronyism, corruption and policy paralysis to become one of the most favoured countries in the world.
The Excel High Income Fund seeks to achieve total return comprised of a combination of interest income and capital growth by investing primarily in debt securities issued by governmental and corporate issuers located in emerging market countries throughout the world.
Indian rupee has the highest total return among 23 emerging markets. India is slated to be the world’s fastest growing economy, overtaking China. According to an analysis compiled by Bloomberg, investing dollars in Indian rupees will get you a return of 5.2% including interest this year.
China’s yuan no longer undervalued as announced by IMF assessment completed on May 27 for 2015 Article IV review of the Chinese economy. The report is relevant in the light of significant appreciation seen in the last 12 months for the yuan and is the first such finding in more than a decade.
The Vice- Chairman of the Federal Reserve Board, Stanley Fischer said that interest rate increases in the US and its repercussions would be “manageable for the Emerging Markets”.Speaking to an audience in Tel Aviv, he said that emerging markets (EM) had made remarkable progress in reducing inflation, improving government debt ratios, building foreign reserves and tightening bank regulations.
The World Bank’s Russian Economic Report #3 published in April 2015 initially projected a negative growth outlook for Russia in 2015-16. The World bank this week has revised its view of the Russian economy due to slowing inflation and a stronger rouble. They predict that the economic contraction will not be as severe as previously indicated. It now sees the GDP fall of 2.7% through…
The Reserve Bank of India (RBI) cut interest rates by 25 basis points today, the third cut for the year so far. Interest rates were previously cut on January 15th and March 4th in an ongoing push to spur investment and growth in the Indian economy. In announcing the rate cut, RBI Governor Raghuram Rajan indicated that he will delay further rate cuts until an…
One year into his term as Prime Minister, Narendra Modi’s dynamic role in reforming India has not only made him one of the most recognizable world leaders but also earned him a spot on Time Magazine’s Top 100 Most Influential People. The investor-friendly Modi has also put India on track to become the world’s next economic superpower. Today, India is the fastest growing major economy…
Source : 2015 Annual Report by CPP Investment Board May 2015 The Canada Pension Plan Investment Board (CPPPIB) published its 2015 Annual Report this week with some interesting investing trends and strong beliefs in the Emerging Markets (EM) delivering returns. Currently, they are investing only 24% ($63.8 bn USD) of the portfolio in Canadian assets with $201 bn USD allotted across 208 global investment partners…
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./ TORONTO, May 26, 2015 /CNW/ - Excel Funds Management Inc. (the "Manager") is pleased to announce that Excel India Growth & Income Fund (the "Fund") has completed its initial public offering of units of the Fund (the "Units") for gross proceeds of $72 million. The Units will commence trading today on…
Samsung Electronics and SK Hynix, the two largest semiconductor companies in Korea, increased their market share in the first quarter of this year on strong technological advancements. Samsung remains the solid #2 player globally while SK Hynix moved ahead of Micron and is close to taking the #3 position from Qualcomm. http://english.hankyung.com/news/apps/news.view?popup=0&nid=&c1=03&nkey=201505211652511
Global investors are returning to Korea drawn by attractive valuations, potential for chaebol reforms and an improving earnings outlook. Excel Investment Counsel has been slightly overweight Korea for these reasons. The KOSPI index is currently valued at ~10.8x forward twelve-month earnings, a slight discount to most of its EM peers and a significant discount to DM countries like the US. http://english.hankyung.com/news/apps/news.view?popup=0&nid=&c1=02&nkey=201505211411311

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