Overview

Our Core Values

Investment Philosophy

Our People

Board of Trustees

Board of Trustees

Karl E. White
Karl E. White is Managing Principal of Gracián & Co., LLC, a firm that provides strategic advisory services to alternative asset management firms. Previously, he was the Chief Investment Officer at Fletcher Asset Management. From 2002 to 2006, he served as Executive Director of the $1.8 billion Massachusetts Bay Transportation Authority Retirement Fund in Boston, where he was responsible for coordinating the Fund’s investment performance and the approximately $110 million annually in retiree benefits.  He has also worked in the Global Asset Allocation Group at Putnam Investments, where he specialized in tactical asset allocation and currency overlay strategies. He has also held investment management positions at Scudder Kemper and Goldman Sachs Asset Management. Mr. White has served on the Board of Directors for San Francisco-based Progress Investment Management and on Advisory Boards for Crescendo Ventures, and European Strategic Partners, representing over $4 billion in private equity assets.  Mr. White Chairs the Board of Directors of Ancora Pharmaceuticals, Inc., a venture-financed biotechnology firm developing novel immune modulating therapies.   In 2007, he was appointed to Florida A&M University’s Board of Trustees, where he Chairs the Audit Committee and serves as Vice Chair of the Budget and Finance Committee. From 1999 to 2007, he was a member of the University of Massachusetts (UMass) Board of Trustees. He remains a member of the UMass Foundation Board and its Investment Committee.  He sits on of the Board of Governors for Tufts Medical Center and serves on the Investment and Finance Committees. Mr. White is also Chair of the Board of Roxbury Youthworks, a non-profit organization that works to combat juvenile delinquency in the Boston metropolitan neighborhoods. He graduated from Florida A&M University’s College of Pharmacy and Pharmaceutical Sciences in 1988 with a B.S. degree in Pharmacy and received an MBA in Analytic Finance and Statistics from the Booth School of Business, The University of Chicago in 1995.

David Friedensohn
David Friedensohn is a senior executive consultant to privately held companies and an Adjunct Professor at the University of Maryland Baltimore County.  Previously, he served as Chief Executive Officer of Upoc Networks, Inc. a privately held mobile social networking company which was sold in 2006.  He also has worked as the CEO of internet based e-commerce and digital entertainment content companies.  He has held executive and senior consulting positions with a variety of entertainment and media companies including Viacom, NBC International, BMG Worldwide, National Geographic Television and Sony Pictures Entertainment.  He holds an MBA from Columbia University School of Business and an AB from Dartmouth College.

Peter A Feinstein, M.M.S., M.D.
Dr. Feinstein has been a practicing Board-certified Orthopedic Surgeon for 30 years. He also has extensive experience in business activities and strategies derived from angel and venture capital investing. Within the healthcare field, he has leveraged his unique background to advise, aid, and invest in start-up and early-stage companies engaged in marketing and product acceptance, drug development, DME distribution, and healthcare IT ideas.  He currently serves as a Special Government Employee consultant to the FDA committee responsible for approval of medical devices in the U.S. Dr. Feinstein is a Fellow of the American College of Surgeons, a Fellow of the American Academy of Orthopedic Surgeons and a member of numerous other prestigious medical societies and organizations. He has published more than 20 articles of importance in peer reviewed medical journals. His eldest son currently is a United States Peace Corp volunteer teaching in Namibia, Southern Africa. Doctor Feinstein received BA, Master of Medical Science (MMS), and M.D. degrees from Brown University.

Robert G Roach, Jr.
Robert Roach is the Chief Compliance Officer for AmericaFirst Capital Management and the AmericaFirst Quantitative Fund series. He has over 25 years of investment, investment banking, finance and operating experience primarily serving growth companies and entrepreneurs. As an institutional buy-side investment professional, Bob primarily focused on acquisition financings, private placements and venture capital. In addition, he has been actively involved in providing investment banking (capital raising, M&A and corporate finance advisory), CFO and consulting services to a variety of companies. Possessing extensive and varied transaction experience, Bob has closed in excess of $640 million of private placements in a number of industry sectors. Bob's operating experience includes leading the operations and finance functions for operating companies, boutique broker dealers and a SEC registered investment management company. From a regulatory perspective, Bob has engaged in supervisory principal and compliance responsibilities for FINRA-regulated broker dealers since 1996. He has also been a licensed and practicing FINOP since 2003. Bob holds an AB in Economics from Dartmouth College and a MBA in Finance from the Booth School of Business, The University of Chicago.



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© 2010 Nile Capital Management, LLC

Investors should carefully consider the investment objectives, risks, charges and expenses of the Nile Pan Africa Fund. This and other important information about the Fund is contained in the prospectus, which can be obtained by calling 1-877-68-AFRICA. The prospectus should be read carefully before investing. The Nile Pan Africa Fund is distributed by Northern Lights Distributors, LLC.

Mutual Funds involve risk, including possible loss of principal.  Because the Fund will invest the majority of its assets in African companies, it is highly dependent on the state of the African economy and the financial prospects of specific African companies.  Certain African markets are in only the earliest stages of development and may experience political and economic instability, capital market restrictions, unstable governments, weaker economies and less developed legal systems with fewer security holder rights.  Adverse changes in currency exchange rates may erode or reverse any potential gains from the Fund’s investments.  ETF’s are subject to specific risks, depending on the nature of the underlying strategy of the fund. These risks could include liquidity risk, sector risk, as well as risks associated with fixed income securities, real estate investments, and commodities, to name a few.  Non-diversification risk, as the Funds are more vulnerable to events affecting a single issuer.  Investments in underlying funds that own small and mid-capitalization companies may be more vulnerable than larger, more established organizations. The Fund’s exposure to companies primarily engaged in the natural resource markets may subject the Fund to greater volatility than investments in a wider variety of industries.  There is a risk that issuers and counterparties will not make payments on securities and other investments held by the Fund, resulting in losses to the Fund. In general, the price of a fixed income security falls when interest rates rise. The Fund may invest, directly or indirectly, in "junk bonds.”  Such securities are speculative investments that carry greater risks than higher quality debt securities.

0605-NLD-4/28/2010

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