Core Plus Fund

Objectives & Strategy

The Fund's goal is to provide investors with a competitive total return. The Fund primarily invests in intermediate-grade bonds. A high level of current income is an important consideration in achieving the Fund's overall goal.

Investor Profile

This Fund is intended for investors seeking a fixed income fund primarily invested in intermediate term investment-grade bonds. The sub-adviser intends to limit the Fundʼs average duration to 5 years or less. The Fund is appropriate for investors with a time horizon of at least twelve months. The Fund pays dividends monthly.

Portfolio Management

American Independence Financial Services, LLC is the investment adviser to the fund. The fund is sub-advised by Boyd Watterson Asset Management LLC ("BWAM").

Formed in 1928, BWAM is one of Cleveland's oldest money management firms. BWAM offers a variety of fixed income, equity and customized products to institutions, individuals and sponsor programs. BWAM is committed to pursuing results in excess of our benchmarks through active portfolio management. The foundation of their investment philosophy is based on fundamental economic and credit research conducted by highly experienced investment professionals

The day to day management of the fund is run by the BWAM team of David Dirk, Brian Gervey, James Shirak, and Gregory Cobb.

 

©2005 American Independence Financial Services, LLC

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.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.

Shares of the American Independence Funds are distributed by Matrix Capital Group, Inc., which is not affiliated with American Independence Financial Services, LLC.

NOT FDIC INSURED    MAY LOSE VALUE    NO BANK GUARANTEE