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Friday, June 25, 2010|
An Africa-Focused Fund Adds Schwab, Fido, Pershing Distribution
Advisors and others seeking exposure to African stock markets will find their going a little bit easier. Nile Capital Management has placed its Nile Pan Africa Fund (NAFAX), what may be the only pure-play investing in Africa, on a quartet of brokerage platforms. Starting this month the fund is on the Charles Schwab, Fidelity, Pershing and Scottrade platforms. Before now, it was available on the Sterne Agee platform. Robert Roach, chief operating officer at Nile Capital Management, stated that the new platforms will make the fund more available to the RIA and independent broker community. The actively-managed mutual fund primarily invests in stocks of African-based companies and follows a top-down macroeconomic analysis of Africa’s 53 countries. The investment team then employs bottom-up fundamental analysis to determine the most attractive companies in selected markets. Larry Seruma is the portfolio manager of the fund.
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