”I believe the window is open for a specialized boutique firm to flourish in this environment, and with the performance of its Value and Treasury disciplines, American Independence is ready to do just that”.
New York, New York (PRWEB) July 26, 2010
American Independence Financial Services, LLC ("AIFS"), an independent manager of nearly $1 billion in mutual funds and separate accounts, announced today that Tom Eggers has joined the firm as Chairman. Mr. Eggers was most recently the CEO and President of The Dreyfus Corporation and a member of its Board of Directors.
Mr. Eggers joins AIFS with nearly 35 years of brokerage and mutual fund experience at major Wall Street firms including PaineWebber, Dreyfus, and Scudder Investments.
“We are incredibly fortunate that someone with Tom’s expertise and experience has joined to help take our firm to the next level” said John J. Pileggi, Managing Partner and a founder of AIFS. “In the past 4 years, AIFS has distinguished itself as a successful manager, distributor and acquirer of mutual funds and separately managed accounts. The fact that Tom had his pick of firms to join before choosing AIFS speaks volumes about the growth potential we see for our firm”.
“I have worked with several of the members of the AIFS team over the years, and have been impressed with what this organization has been able to accomplish in some very difficult financial markets”, said Eggers. "The asset growth and performance has been outstanding. I believe the window is open for a specialized boutique firm to flourish in this environment, and with the performance of its Value and Treasury disciplines, American Independence is ready to do just that”.
Eggers appointment is effective immediately.
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. Assets under management are approximately $1 billion.
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 which are more volatile than large cap stocks.
For more complete information on the American Independence and NestEgg 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 and NestEgg Target Date 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
For Information Contact:
Eric M. Rubin
President Tel. 646-747-3477 erubin(at)americanifs(dot)com http://www.aifunds.com
# # #