CMG Selects American Independence to Manage a Portion of CMG’s Absolute Return Managed Accounts and Absolute Return Mutual Fund (CMGTX)

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American Independence Financial Services, LLC (“AIFS”), a New York based manager of over $1 billion of mutual funds and separate accounts, is pleased to announce that CMG Capital Management Group (“CMG”) has selected the firm’s tactical fixed income team to manage a portion of CMG’s Absolute Return managed accounts and Absolute Return mutual fund (CMGTX).

American Independence Financial Services, LLC

Kirk Barneby's three plus decades of experience in interest rate management are essential to any asset allocation, especially in today's uncertain environment.

American Independence Financial Services, LLC (“AIFS”), a New York based manager of over $1 billion of mutual funds and separate accounts, is pleased to announce that CMG Capital Management Group (“CMG”) has selected the firm’s tactical fixed income team to manage a portion of CMG’s Absolute Return managed accounts and Absolute Return mutual fund (CMGTX). CMG is a Registered Investment Advisor located in Radnor, Pennsylvania and specializes in alternative investment strategies in a liquid, transparent, separately managed account platform. The platform offers three major blends of managers and nine different models to assist advisors and their clients seeking investment returns that are not correlated with each other and the overall equity and bond markets. CMG also offers an Absolute Return mutual fund with ten sub-managers offering daily liquidity and flexibility to enable advisors and their clients to access these alternative strategies in one mutual fund.

T. Kirkham (Kirk) Barneby, Chief Fixed Income Strategist and portfolio manager of the Tactical Fixed Income Team at American Independence is excited for the opportunity to be a part of CMG’s platform. “Steve Blumenthal and his team of experts spent a great deal of time researching our strategy and process and we are both honored and grateful to be a part of their platform. We look forward to a long and mutually rewarding relationship with CMG.” Kirk Barneby’s proprietary “Investment Scorecard” methodology, which is utilized to actively manage the duration of fixed income portfolios, has its beginnings as far back as the 1970’s. The research on the behavior of interest rates has resulted in an active fixed income strategy that significantly alters the interest rate sensitivity of portfolios depending on the interest rate forecast. Barneby, and his colleague Glenn Dorsey, manage the American Independence Active Treasury Management (long-only) and Active Treasury Management Bull/Bear (long-short) strategies.

Steve Blumenthal of CMG Capital Management Group said, “The CMG due diligence process is intensive and rigorous, and we add managers and make changes only after the most thorough of consideration. I am delighted to say that the American Independence tactical fixed income strategy, managed by Kirk Barneby and Glenn Dorsey met and exceeded our standards.”

He added, “The CMG Absolute Return Strategies have low correlation to both the other managers on our platform and the overall stock and bond markets. Kirk Barneby's three plus decades of experience in interest rate management are essential to any asset allocation, especially in today's uncertain environment."    

Said John J. Pileggi, Managing Partner of American Independence Financial Services, LLC, “All of us at AIFS are extremely pleased that CMG has selected us as part of their platform and mutual fund. It is a privilege to work with such a deep and talented firm in the alternative area, which is certainly one of the fastest growing areas in investment management.” He added, “Kirk and Glenn take a dynamic view to world of bonds that is not fixed but flexible. With the forces of inflation and deflation converging in the most unpredictable interest rate environment that we may have ever seen, it is their ability to adjust to forces affecting bond prices that will be crucial. They are truly total return oriented.”

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 as of September 30, 2010. Jeff Miller was recently noted for his management of the American Independence Stock Fund, which was listed in Morningstar’s “Large Cap Funds on Winning Streaks” on July 11, 2010. It is currently the only Large Cap Value fund to have out-performed the S&P500 every year since the end of 1999. The American Independence Fund family is currently comprised of 15 funds. AIFS also has a strong SMA business featuring the tactical bond 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 target date of a Fund is intended for investors who are saving for a particular goal in life, such as retirement, or who need to withdraw a substantial portion of their investment in, or close to, the year in the name of the Fund. The principal value of an investor’s investment in the Fund is not guaranteed at any time, including in the target year designated in the Fund’s name as well as the years following the designated target date. The Fund will pursue its objective by allocating its assets amongst three major asset classes (stocks, bonds, and cash), which will change over time in relation to its target retirement date. The Fund intends to gradually reduce the potential market risk exposure over time by re-allocating the Fund’s assets amongst the major asset classes. Each Fund’s allocation becomes more conservative as the Fund’s target year approaches and after it arrives. A fund with a shorter time horizon allocates more of its assets to fixed income and cash, while a fund with a longer time horizon allocates more of its assets to equity securities.

The American Independence Stock Fund I Class, as of September 30, 2010 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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Eric Rubin

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