International

At American Independence, our dedication to performance, and our entrepreneurial approach to opportunity, makes international investing a natural fit. In our singleminded pursuit of your success, our managers span the globe for investment opportunities that offer solid potential for growth and diversification. American Independence offers broadly diversified international funds designed to serve as core holdings in a portfolio, as well as a fund designed to manage against the risks of global inflation.

International markets provide an opportunity to invest in foreign companies that have the potential to grow faster than their U.S. counterparts. Foreign investments can also add greater diversification to a portfolio because overseas markets do not typically move in lock-step with domestic markets over the long term.

While international diversification may help to reduce overall portfolio risk over time, it also has unique risks that need to be taken into consideration. Political or economic instability in foreign countries could negatively affect foreign investments, especially in emerging markets. Fluctuating foreign exchange rates can increase or decrease the dollar value of an investment even if the security's price remains unchanged. Through professional management and broad diversification, the inherent risks of international investing can be reduced but not eliminated.

American Independence International Equity Fund

The Fund's goal is to provide long-term capital appreciation. The Fund normally invests at least 80% of its net assets in foreign securities, which may include emerging markets.

American Independence International Bond Fund

The Fund's goal is to attain a high level of total return as may be consistent with the preservation of capital. The Fund principally invests directly or indirectly in fixed income securities and other financial instruments to gain exposure to issuers located outside the United States.

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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