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Three years after leading the Bharatiya Janata Party (BJP) to India’s first majority government in more than three decades, Prime Minister Narendra Modi has turned India into the brightest shining star in the global economy. He has exceeded the expectations of those who placed their trust in his leadership, as well as won the confidence of the Indian population and foreign investors at large. Today,…
Excel Funds’ New India Leaders Fund celebrated its 1-year anniversary on April 22, 2017. The fund has experienced healthy growth in its first year with 1-year annualized returns of 34%[1]­­­­­. The fund invests in equity securities of companies located in India that are considered emerging industry leaders or small/medium cap companies. Excel Funds’ sub-advisor for this fund, Birla Sun Life Asset Management Company Ltd, is…
In part 1 of this article, we discussed how China’s economy is undergoing a transition. While the old China economy was largely driven by manufacturing led and export oriented, the new China economy is driven more by domestic consumption. We will now discuss some of the key features of the “new” China economy that are likely to drive its sustainability, benefitting long-term China investors.  …
India continues to be the fastest growing major economy in the world and its growth will accelerate further due to factors like the implementation of their simplified taxation system, Finance Minister Arun Jaitley said[1]. The government’s Goods and Services tax (GST) tax reform has been identified as one of most important tax reforms for India post-independence, says a report by the United States Federal Reserve. In the summer…
Buoyed by reform-oriented government policies, optimism is rife in China over the growth prospects of the “new” China economy – setting the stage for potentially solid gains for China investors.The “new” China economy which is represented by the shift in focus from export-led to domestic-generated growth bodes well for China, whose GDP is expected to grow at a sustainable pace of 6.6% in 2017 and…
As it relates to infrastructure development, India is undergoing a mini revolution of sorts. In all, US$59 billion has been set aside this year for connectivity-related infrastructure development. The key pillars of Indian infrastructure are: Power Connectivity DigitalHighways Housing Let’s examine each of these pillars one by one. Power Piyush Goyal is the Power Minister of India and has done a commendable job since taking…
Growth in India Proves Hard to Ignore India is the world’s fastest-growing major economy, and Toronto Mayor John Tory is looking to deepen ties with the nation on a 10-day trade mission. The primary purpose of the trip is to lure jobs to Toronto and also promote business ventures between Canadian firms and South Asian companies, with a specific focus on education, finance and technology.…
Pro-Growth Reforms are the Way ForwardPrime Minister Narendra Modi and his Bharatiya Janata Party (BJP) celebrated a landslide victory in India’s state elections on Saturday, March 11, 2017. The win served as affirmation that millions of Indian citizens overwhelmingly support the direction of the country under Prime Minister Modi, and positions his party for a second term in 2019.Prime Minister Modi’s BJP party won an…
A Broad and Diverse Market Creates Opportunity for Generating AlphaIndia represents one of the largest and most varied markets in all of Asia.The number of publicly listed companies in India, currently stands at over 7,200 – comparatively, China has around 4,700 which includes shares of public companies that trade in Hong Kong.1 Conventional wisdom suggests that this vast landscape creates a far-reaching scope for investors…
Delivering his fourth annual budget, Finance Minister Arun Jaitley, presented a plan designed to lower tax rates and further invigorate domestic consumption. Lending his support, Prime Minister Narendra Modi described the Budget as ‘futuristic’ with a specific focus on job creation, economic transparency, urban rejuvenation and rural development. Indian stocks rallied following the news, with the BSE Sensex Index and Nifty 50 adding 1.76 percent…
“Through the Looking Glass”By Excel Investment Counsel Inc We use the imagery of the “Looking Glass” from Alice in Wonderland as a symbol of our 2017 outlook. In many aspects, 2017 will almost be a reversal or mirror image of the “new normal” we have experienced in the past several years post-2008. With monetary policy at its limits for major developed economies like the U.S.…
A high degree of economic and political uncertainty made 2016 a challenging year for global investors. In order to navigate this new market environment, it is important to fully account for the macro events of the past twelve months, while attempting to understand the implications for the year ahead. 2016 | The Year in ReviewDuring the first half of 2016, concern about the pace of…

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