Top Lipper Award for Emerging Markets Goes to Africa-focused Fund

Nile Capital Management's Andy Chen and Larry Seruma

NILE PAN AFRICA FUND RECEIVES THE 2014 LIPPER AWARD

Nile Pan Africa Fund Recognized by Lipper as
Top Performing Fund

Princeton, New Jersey, March 21, 2014 – Nile Funds is pleased to announce that the Nile Pan Africa Fund (NAFIX) has received the 2014 Lipper Award for best Emerging Market Fund for the three year performance period ending December 31, 2013 out of 335 Emerging Market funds.  The Lipper awards recognizes mutual funds that have excelled in delivering consistently strong risk-adjusted performance, relative to peers.

This award recognizes our investment process and approach to identifying growth businesses trading at value prices in Africa and frontier markets.   We are very pleased with the win – especially as it highlights the Africa investment case – for investors who might not yet have heard of our “pure play Africa investment opportunity”.

“Africa represents about 4% of global GDP today and is projected to exceed 12% by 2050, according to economists at Citigroup.  We believe an Africa allocation should be a core holding in every global portfolio,” said Larry Seruma, Portfolio Manager.

The fund is open to investors and is available for purchase at Charles Schwab, TD Ameritrade, and other major brokerages.  The minimum initial investment is $1,000 for Class A (NAFAX) and $250,000 for Institutional Class shares (NAFIX).

 About Nile Capital Management.

Nile Capital Management is a Princeton-based asset management firm with in-depth expertise in frontier markets. Since 2010, Nile has served as investment adviser to Nile Pan Africa Fund, a pioneering fund focused on capturing Africa's economic growth and the Nile Global Frontier Fund, an actively managed fund investing in the global frontier.   Nile seeks to identify and capitalize on attractive investment opportunities in Africa and other frontier markets. Additional information is available at www.nilefunds.com.

Past performance and ratings are no guarantee of future results. Rankings and ratings are only one form of performance measurement. For current performance information please visit www.nilefunds.com

Investors should carefully consider the investment objectives, risks, charges and expenses of the Nile Funds. This and other important information about the Funds is contained in the prospectus, which can be obtained by calling 1-877-682-3742. The prospectus should be read carefully before investing. The Nile Funds are distributed by Northern Lights Distributors, LLC. Nile Capital Management, LLC is not affiliated with Northern Lights Distributors, LLC.

Mutual Funds involve risk, including possible loss of principal. Frontier market countries generally have smaller economies and even less developed capital markets than traditional developing markets, and, as a result, the risks of investing in developing market countries are magnified in frontier market countries.

Lipper Fund Awards are based on Lipper’s Consistent Return calculation.  Lipper scores for Consistent Return reflect funds’ historical risk-adjusted returns relative to funds in the same Lipper classification and include each fund’s expenses and reinvested distributions, but exclude sales charges.  Consistent Return values are calculated with all eligible share classes for each eligible classification.  The highest Lipper Leader for each Consistent Return value within each eligible classification determines the fund classification winner over three, five or 10 years.

Lipper Award winners are recognized for being the top-risk adjusted performing funds in their respective Lipper peer groups for the listed periods ending December 31, 2013.  Past performance or ranking is not indicative of future results.  Lipper ratings are not intended to predict future results, and Lipper does not guarantee the accuracy of this information. More information is available at www.lipperweb.com. Lipper Leader Copyright 2014.

0912-NLD-3/20/2014

Nile Capital Management

We Know Africa: From Cairo to Cape Town

For more information please call 646-367-2820