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Rating:A New York Fund Shop Dreams of Africa Not Rated 3.0 Email Routing List Email & Route  Print Print
Thursday, October 15, 2009

A New York Fund Shop Dreams of Africa

News summary by MFWire's editors

New York-based Nile Capital Management is bringing investments in Africa to American mutual fund investors.

The Nile Africa Mutual Funds includes three equity funds and one fixed-income fund, reveals an SEC filing from earlier this month.

The equity funds are organized by geographic region: There's the Nile East and Southern Africa Fund, the Nile West Africa Fund and the Nile Pan Africa Equity Fund. The Pan Africa Fixed Income Fund will, like its equity counterpart, invest in all of Africa.

Founder Larry Seruma will lead portfolio management for the funds, with assistance from Tapio Pekkala, Andy Chen and Marc Wiersum. Seruma has worked at Proxima Alfa Investments since 2005, and he previously worked at Barclays and the Chicago Board of Options Exchange as well.

Raleigh, North Carolina-based Capital Investment Group will act as the distributor for the fund.

All four funds feature expense ratios of 375 basis points. 

Correction: A previous version of this story incorrectly reported the timing of Nile Capital Management's founding.

Edited by: Adam Kommel


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