U.S. Equities

American Independence offers equity funds designed either to serve as a core holding within a diversified portfolio or as specialized funds for investors seeking more aggressive growth over the long term by pursuing more focused investment strategies.

Offering potentially higher returns than bonds or money market securities, stocks can also undergo greater price fluctuation than other asset classes. Over time, however, the return on stocks has compensated for periodic declines. For this reason, investors seeking capital growth should have a longer time horizon in order to weather inevitable market downturns.

American Independence Stock Fund

The Fund’s goal is to provide long-term capital appreciation. The Fund normally invests at least 80% of its net assets in stocks issued by U.S. companies with large market capitalizations.

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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 which are more volatile than large cap stocks. Value-based investments are subject to the risk that the broad market may not recognize their intrinsic value. 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.

Investing in a single-sector mutual fund involves greater risk and potential reward than investing in a more diversified fund. By concentrating on a small number of holdings, the fund carries greater risk because each investment has a greater effect on the fund's overall performance.

For more complete information, you can obtain a prospectus containing complete information on the funds by calling 866-410-2006, or by downloading them from this web site. 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.

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia.

Shares of the American Independence Funds are distributed by Foreside Distribution Services, LP, which is not affiliated with American Independence Financial Services, LLC, American Independence Capital Management, LLC, or Miller & Jacobs Capital, LLC.

NOT FDIC INSURED MAY LOSE VALUE NO BANK GUARANTEE