NEW YORK, Aug. 6, 2007 (PRIME NEWSWIRE) -- The NestEgg Dow Jones Target Date Funds (the "Funds") from American Independence today announced several enhancements to its mutual funds. Fund shareholders have overwhelmingly approved adding international securities to each Fund's investment portfolio to allow the Funds to seek to track the global methodology of the Dow Jones Target Dates Indexes. In addition, the Funds have reduced the expense ratios of each of its share classes and changed each Fund's name to reflect the new investment policies.
NestEgg Dow Jones U.S. Target Date Funds Adopts Global Strategy
Effective immediately, the Funds, formerly know as the NestEgg Dow Jones U.S. Target Date Funds, have changed their fundamental objectives and policies. The Funds previously sought to track the overall performance of the Dow Jones U.S. Target Date Indexes, less operating expenses. The Funds will now seek to track the overall performance of the Dow Jones Target Date Indexes, which are comprised of U.S. and Global securities, less operating expenses. The Funds' advisor, American Independence Financial Services LLC ("AIFS") will be adding International equity and fixed income securities to the funds.
Eric Rubin, President of the Funds, said, "We are delighted that shareholders have so strongly embraced the adoption of the global version of the Dow Jones Target Date Indexes. The globalization of the world's economy has continued unabated in recent years and fund investors, and their advisors, have continued to express strong demand for international investment exposure, particularly in retirement savings. Dow Jones Indexes is one of the most respected and objective names in indexes, and we are extremely pleased to continue our affiliation with them as we add the international component."
NestEgg Dow Jones U.S. Target Date Funds are renamed
To reflect the change in investment strategy, the Funds have been renamed and will now be known collectively as "The NestEgg Dow Jones Target Date Funds," with each portfolio name also featuring the target dates 2010, 2015, 2020, 2030 and 2040.
NestEgg Dow Jones Target Date Funds makes significant expense reductions
Also effective immediately, the maximum expense ratios of each Fund has been reduced by as much as 53%. Eric Rubin stated, "Many other 'Life Cycle' and "Life Style" funds, particularly target date funds, are "funds of funds" and are difficult for investors to understand in terms of the 'layers' of fees and what the actual costs of the investment truly are. We are committed to both transparency and competitiveness of our pricing as well as providing the greatest possible value to our investors. We believe we are well positioned to do both."
The NestEgg Dow Jones 2010 and 2015 funds will be lowering their expense ratios by 50 basis points. The NestEgg Dow Jones 2020 funds expenses will be reduced by 40 basis points. The Nest Egg Dow Jones 2030 fund's expenses will be lowered by 25 basis points, and the NestEgg Dow Jones 2040 Fund will be reduced by 20 basis points.
Said Rubin, "Institutional shareholders will see reductions that range from 21% up to 53%. Class A retail shareholders will see reductions that range from 14% to 34%. These new expense ratios are amongst the lowest in the industry for Target Date Funds."
Important Disclosures
Investing in the Funds involves risk. Equity securities are more volatile and carry more risk than other forms of investments. Investments in fixed income securities are subject to interest rate risks. The principal value of a bond falls when interest rates rise and rises when interest rates fall. During periods of rising interest rates, the value of a bond investment is at greater risk than during periods of stable or falling rates. International investing involves increased risk and volatility due to changes in currency rates, foreign taxation, differences in auditing and other financial standards. "Dow Jones," "DJ Indexes," "Dow Jones Target Date Indexes", and "Dow Jones U.S. Target Date Indexes" are service marks of Dow Jones & Company, Inc. and have been licensed for use for certain purposes by American Independence. Investment products based on the Dow Jones U.S. Target Date and Dow Jones Target Date Indexes are not sponsored, endorsed, sold or promoted by Dow Jones, and Dow Jones makes no representation regarding the advisability of investing in such product(s) or any component thereof.
For more complete information, you can obtain a prospectus containing complete information for the new funds by calling 866-410-2006. You should read and consider the fund's investment objectives, risks, charges and expenses carefully before you invest or send money. Information about these and other important subjects is in the Funds' prospectus.
Shares of the NestEgg Dow Jones Target Date Funds are distributed by Foreside Distribution Services, LP, which is not affiliated with American Independence Financial Services, LLC.
About American Independence Financial Services
American Independence Financial Services is a registered investment management firm, founded to serve as an investment advisor for institutional and retail investors and intermediaries and offers a wide range of equity and fixed income products.
The American Independence Funds feature five notable actively managed mutual funds with established track records, and the NestEgg Dow Jones Target Date Funds. The firm also created and introduced the first series of funds based on the Dow Jones U.S. Target Date indexes, the NestEgg Dow Jones U.S. Target Date Funds. The American Independence Funds include: the Stock Fund, International Equity Fund, Short-Term Bond Fund, Intermediate Bond Fund, Kansas Tax-Exempt Fund, and the recently launched Financial Services Fund. American Independence also offers a Single (k) and small plan 401(k) product.
The American Independence Financial Services logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=3421
For more information, please visit our website: www.aifunds.com