Nile Pan Africa Fund

Experience makes the difference.

Africa is the second largest continent by land area and population, behind only Asia. As Africa’s economies keep growing and its standards of living keep rising, high-growth public companies are emerging on the continent. We have the knowledge, experience and process to help you identify and participate in them.
  • Class A

    • Nile Pan Africa Fund (NAFAX)

    • NAV

      $14.88
    • NAV Daily Change

      0.02
    • % YTD Return

      0.75%

    Class C

    • Nile Pan Africa Fund (NAFCX)

    • NAV

      $14.66
    • NAV Daily Change

      0.02
    • % YTD Return

      0.21%

    Institutional Class

    • Nile Pan Africa Fund (NAFIX)

    • NAV

      $14.94
    • NAV Daily Change

      0.02
    • % YTD Return

      0.95%


  • Investment Strategy

    Nile Pan Africa Fund ("the Fund") seeks to provide long term capital appreciation by investing in stocks of African-based companies. The Fund is advised by Nile Capital Management, LLC, and its Portfolio Manager is Larry Seruma, Chief Investment Officer.

    In normal markets, the Fund expects to invest at least 80% of its assets in stocks of public companies that have the majority of their assets in Africa, and/or derive a majority of their revenues from Africa. The Fund diversifies broadly among the most attractive regions and countries in Africa, identified through top-down macroeconomic analysis. This analysis evaluates and ranks each of Africa's 53 nations on the basis of economic growth, inflation, interest rates, currency, regulatory framework and political ability.

    The Portfolio Manager also employs bottom-up fundamental analysis to identify the most attractive companies in selected markets. This analysis draws upon proprietary research and "on-the-ground" contacts and resources in African markets. It will focus on such factors as:

    • • Cash flow return on investment
    • • Return on invested capital
    • • Sound balance sheets with reasonable debts
    • • Strong products with competitive advantages
    • • Strength and stability of company management
    • • Sound accounting policies and corporate governance
    • • Prospects for sustained earnings growth

    Average Annual Returns

    Performance

    Through 08/19/2014

    Average Annual Returns

    Through 06/30/2014
    Fund Name(4)NAVNAV Daily Change% Daily Change(1)% YTD Return(2)One MonthThree MonthsSix MonthsSince InceptionOne YearFive YearInception
    Nile Pan Africa Fund Class A14.880.020.13%0.75%0.27%0.27%4.20%10.99%14.26%12.40%11.37%
    Nile Pan Africa Fund Class C14.660.020.14%0.21%0.21%0.07%3.83%10.13%13.44%11.54%10.50%
    Nile Pan Africa Fund - Inst Class I14.940.020.13%0.95%0.34%0.40%4.40%8.11%14.53%N/A8.39%
    • (1) Represents the percentage increase/decrease in the net asset value from the prior trading day.
    • (2) Performance for periods less than one year is not annualized.
    • (3) Inception date of the Nile Pan Africa Fund Class A and C is April 28, 2010
    • (4) The maximum sales charge for Class A Shares is 5.75%. Class A Share investors may be eligible for a reduction in sales charges.
    • Nile Pan Africa Fund Class A - Gross Expense Ratio: 2.96%
    • Nile Pan Africa Fund Class C - Gross Expense Ratio: 3.76%
    • Nile Pan Africa Fund Institutional Class - Gross Expense Ratio: 2.65%

    The performance data quoted here represents past performance. Current performance may be lower or higher than the performance data quoted above. Investment return and principal value will fluctuate, so that shares, when redeemed, may be worth more or less than their original cost. Past performance is no guarantee of future results. The Fund's investment adviser has contractually agreed to reduce its fees and/or absorb expenses of the fund, at least until July 31, 2014, to ensure that the Total Annual Fund Operating Expenses After Fee Waiver (exclusive of any acquired fund fees and expenses, borrowing costs, taxes and extraordinary expenses) will not exceed 2.50% for Class A, 3.25% for Class C and 2.25% for Institutional Class shares, subject to possible recoupment from the Fund in future years. Please review the Fund's prospectus for more detail on the expense waiver. Results shown reflect the waiver, without which the results could have been lower.

    A Fund's performance, especially for very short periods of time, should not be the sole factor in making your investment decisions. For performance information current to the most recent month-end, please call toll-free 1-877-68-AFRICA.

    The MSCI Frontier Markets Index is a market-capitalization weighted index of frontier market country indices.
    Investors cannot directly invest in an index and unmanaged index returns do not reflect any fees, expenses or sales charges.

    Growth of a Hypothetical Investment of $10,000 in Nile Pan Africa Fund

    (Assuming reinvestment of all dividends and distributions)
  • Security Holdings

    Through 09/30/2013
    Security DescriptionPercentage
    UAC of Nigeria Plc 5.04 %
    Consolidated Infrastructure 4.60 %
    Nigeria T-Bill 4.19 %
    Ghana Government Bond 3.97 %
    Curro Holdings LTD 3.96 %
    Mota Engil SGPS SA 3.56 %
    Ellies Holdings Inc 3.41 %
    Dangote Cement PLC 3.39 %
    Famous Brands Ltd 3.29 %
    Invicta Holdings Ltd 3.23 %

    The security holdings are presented to illustrate examples of the securities that the fund has bought and the diversity of areas in which the funds may invest, and may not be representative of the fund's current or future investments. Portfolio holdings are subject to change and should not be considered to be investment advice.

    Fees and Expenses

    For a complete list of fees and expenses click below.

    Check Historical NAV