American Independence Stock Fund Continues to Outperform its Index and Peers

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American Independence is pleased to announce that Morningstar’s publication of “Large Cap Funds on Winning Streaks”, available on July 11, 2010, lists the American Independence Stock Fund as one of 9 funds that have beaten the S&P 500 Index in successive years since 2005.

"From the moment Jeff Miller and his team assumed the management of the Stock Fund, we have been saying that a Miller will continue to be a stellar Value manager, but it will be JEFF Miller!"

American Independence is pleased to announce that Morningstar’s publication of “Large Cap Funds on Winning Streaks”, available on July 11, 2010, lists the American Independence Stock Fund as one of 9 funds that have beaten the S&P 500 Index in successive years since 2005. This follows Morningstar’s previously published “Fund Times” article on December 24, 2009, that notes the Stock Fund as the ONLY large Cap Fund that has bested the S&P 500 since 2000.

Said John J. Pileggi, Managing Partner of American Independence Financial Services, LLC, the Fund’s advisor, “We are extremely proud of the long term results of the Stock Fund, and the Fund’s prominent inclusion in two of Morningstar’s independent reports. From the moment Jeff Miller and his team assumed the management of the Stock Fund, we have been saying that a Miller will continue to be a stellar Value manager, but it will be JEFF Miller! Thus far, we have been correct, and the confidence of our shareholders has been rewarded.”

Jeff Miller, portfolio manager of the Stock Fund stated that, "We are pleased that our replicable and disciplined approach to picking stocks, which looks for strong operating businesses that are temporarily out of favor in the stock market, combined with our active risk management, has been able to produce these results for our investors. By focusing on the relatively few good companies selling for a low price to cash flow, we believe that over time our investors will earn returns greater than those of the overall market. We have limited losses in bad times and have produced attractive returns in periods of rising markets by avoiding many of the pitfalls, such as the ‘value trap’, that many similar funds fall into."

Pileggi also noted that Jeff Miller’s team has recently assumed the management of the Value portion of American Independence’s ”NestEgg Target Date Funds” which utilize multiple managers selected for their expertise in a particular asset class and which are not “funds of funds”. In addition, Miller and his team also have assumed management of the Fusion Fund, a registered mutual fund that invests in both long and short equity positions. Pileggi added, “Jeff and his team are Value stock pickers, and their talents and methodology can be utilized effectively in different vehicles which American Independence is now offering through some of the largest and most well known Fund and Separate Account platforms, and through premier wealth management firms.”

About American Independence Financial Services, LLC
American Independence Financial Services, LLC (“AIFS”) is the investment adviser and administrator for the American Independence Funds, and the NestEgg Target Date Funds, featuring the 5 Star Morningstar rated Stock Fund. The American Independence Fund family is currently comprised of 15 funds. AIFS also has a strong SMA business featuring the Active Treasury Management (ATM) and ATM/Bull Bear strategies, as well as Large Cap Value. Total firm assets under management are approximately $1 billion.

Inquiries:

American Independence Financial Services, LLC
Eric Rubin
President
Tel. 646-747-3477
erubin(at)americanifs(dot)com
http://www.aifunds.com

Important Disclosures
Investing in the Funds involves risk. Equity securities are more volatile and carry more risk than other forms of investments. The Funds may invest in small and mid cap securities that are more volatile than large cap stocks.

For more complete information on the American Independence Funds, you can obtain a prospectus containing complete information for the funds by calling 866-410-2006, or by visiting http://www.aifunds.com. 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.

The American Independence Stock Fund I Class received a 5-star rating for overall performance, 5 stars for 3-year performance among 1,127 Large Value funds, 5 stars for 5-year performance among 948 funds, and 5 stars for 10-year performance among 478 funds. For each fund with at least a 3-year history, Morningstar calculates a Morningstar Rating based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund’s monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and is rated separately, which may cause slight variations in the distribution percentages.) The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its 3-, 5- and 10-year (if applicable) Morningstar Rating metrics.

Past performance does not guarantee future results.

American Independence Financial Services, LLC is a limited liability company.

Shares of the American Independence Funds are distributed by Foreside Distribution Services, LP, which is not affiliated with American Independence Financial Services, LLC.

Not Fdic Insured - May Lose Value - No Bank Guarantee

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