NEW YORK, March 6, 2007 (PRIME NEWSWIRE) -- American Independence Financial Services, LLC (American Independence) announced today the formation of a new asset management affiliate, American Independence Capital Management, LLC (AICM), to strengthen its proprietary asset management business. Miller & Jacobs Capital, LLC (MJC), a New York and St. Croix based asset manager, will be co-owner of the new AICM and an investor in American Independence. MJC, a Registered Investment Advisor with a 10-year operating history in Financial Services, will provide AICM with research, trading and money management expertise.
American Independence serves as the investment manager to the American Independence Funds and the NestEgg Dow Jones U.S. Target Date Funds, a $610 million family of mutual funds. MJC provides investment management to over $190 million in assets.
"The creation of AICM is the realization of one of our essential goals when we formed American Independence," said Eric M. Rubin, President. "As the largest mutual fund managers continue to strive for increased size and scale, we continue to believe that the most important differentiating feature of a money manager, a focus on competitive and sustained performance, has been lost in the shuffle. AICM will be our platform to address that absence and we believe our model will provide the market with the best and the brightest of a new generation of money managers by accessing the existing talents of the MJC team."
Jeffrey Miller, Co-CIO and Co-Founder of MJC, who will serve as President of AICM said, "My partners and I have spent 10 years building a world-class platform for value and special situation investing and we have been constantly evaluating opportunities to work in partnership with a firm that shares our commitment to quality products and client service. In our 10 years of operating history, there has been no shortage of firms that have approached us about a partnership. With American Independence, we saw a unique opportunity to partner with an organization with significant mutual fund experience and product creation and management capabilities."
American Independence recently announced that it will be the investment manager for the American Independence Financial Services Fund (Financial Services Fund), and AICM will act as sub-advisor. The Financial Services Fund will be available through financial intermediaries and investment advisory firms, including broker/dealers and financial planners. Eric Rubin stated that "Together and separately, Jeff Miller and Eric Jacobs have among the finest pedigrees in the financial services sector and have devoted most of their careers to finding hidden value for their clients."
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Important Disclosures
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 American Independence Funds and NestEgg Dow Jones U.S. Target Date Funds are distributed by BISYS Fund Services Limited Partnership, which is not affiliated with American Independence Financial Services, LLC.