John Niepold is the Portfolio Manager responsible for Africa and the Middle East. He also follows the beverage sector. Mr. Niepold is the Portfolio Manager for The Africa Emerging Markets Fund and the Emerging Markets Middle East Fund. Prior to joining the Firm, he served as an independent emerging markets research analyst for institutional investment advisors, stockbroking firms and development agencies and was a Senior Investment Analyst for Crosby Securities in Hong Kong, Singapore and Indonesia. Mr. Niepold has a B.A. in economics from Davidson College and an M.B.A. from the University of North Carolina/Chapel Hill.