Adviser to the American Independence Funds Joins Quantitative Investment Firm Manifold Partners

We are pleased to announce that RiskX Investments, LLC, Adviser to the American Independence Funds, is now Manifold Fund Advisors, LLC, an affiliate of Manifold Partners, LLC.

What is changing about the mutual funds I utilize for my clients as a result?

Nothing. There will be no changes to services to the Funds or investment products. The American Independence Funds continue to be subadvised by carefully selected and monitored boutique asset managers. These include JAForlines Global Tactical Allocation, Kansas Tax-Exempt Bond, Core Plus, U.S. Inflation-Protected, and Small Cap Value Funds. Fund names, tickers, or cusips will not be changing and, therefore, your clients should see no changes on their account statements.

Manifold Partners continues to be responsible for the day-to-day management of the AI International Fund and Manifold Partners research is an important component of the AI Large Cap Growth Fund’s investment process.

Okay, I understand that RiskX is now Manifold Fund Advisors. What is Manifold Partners?

Manifold Partners is a pioneering, quantitative investment firm managing portfolios utilizing proprietary artificial intelligence and machine learning technologies.

That Manifold description includes a lot of “techy” words – please elaborate in plain English.

Manifold Partners’s approach to managing money harnesses the power of the “Machine Learning” and “Big Data” phenomena that have already found their way into our everyday lives, as when we consult our mobile phone’s digital assistant or receive a recommendation for what to play next from a streaming music or video service.

Manifold Partners has been researching, building, and improving scientifically-driven investment strategies for nearly 10 years, utilizing techniques steeped in decades of research. Rapid advances in technology have become the norm in our daily lives and Manifold was founded to apply these advancements to investment management, making the firm uniquely-positioned to deliver consistent, risk-managed investment outcomes.

Who leads the investment team? Is it a robot?

Jim Creighton is the firm’s Chief Investment Officer (and he’s not a robot). Jim’s career in investment management spans 35 years. He was previously Chief Investment Officer of firms including Barclays Global Investors (the company responsible for iShares ETFs), Deutsche Asset Management, and Northern Trust Asset Management.

The investment team includes multiple PhDs experienced in quantitative science, mathematics, and related investment disciplines.

I never really understood the RiskX name.

We agree. We think Manifold is an improvement and we are proud of our affiliation with Manifold Partners.

Important Disclosures
All investments involve risk including the loss of principal. 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. The return of principal in bond funds is not guaranteed. Bond funds have the same interest rate, inflation, and credit risks that are associated with the underlying bonds owned by the fund. Generally, the value of a bond fund rises when interest rates fall and falls when interest rates rise.

General ETF Risk. The cost to a shareholder of investing in the Fund may be higher than the cost of investing directly in ETF shares and may be higher than other mutual funds that invest directly in equities. You will indirectly bear fees and expenses charged by the ETFs in addition to the Fund’s direct fees and expenses.

Foreign Securities Risk. International investing involves risks, including risks related to foreign currency, limited liquidity, less government regulation and the possibility of substantial volatility due to adverse political, economic or other developments. These risks often are heightened for investments in emerging/developing markets or smaller capital markets.

Quantitative Investment Strategies Risk. Manifold Partners may rely on quantitative models (both proprietary models developed by Manifold Partners and those supplied by third parties) and information and data supplied by third parties (“Models and Data”) in managing the Fund. Models and Data are used to assist in determining investments and to provide risk management insights.

Models and Data may prove to be incorrect or incomplete. In such cases, any decisions made in reliance thereon can expose the Fund to potential risks. Some of the models used by the Sub- Adviser are predictive in nature. Predictive models generally depend on the assumption that the future performance of a specific investment can be predicted based on the correlation of the past performance of the investment with the past performance of other investments or economic or financial data. The use of predictive models presents inherent risks. Because predictive models are usually constructed based on historical data supplied by third parties, the success of relying on such models may depend heavily on the accuracy and reliability of the supplied historical data. Additionally, market dynamics change over time and correlations that existed in the past may diminish or end. A model may fail to provide correct predictions, and a model that has been successful in the past may be less successful or ineffective in the future. Most statistical formulae cannot fully match the complexity of the financial markets and a model may be flawed or may not work as anticipated. During unforeseen or low probability scenarios, models may produce unexpected results, which may result in losses for the Fund.

Equity Securities Risk. In general, prices of equity securities are more volatile than those of fixed income securities. The prices of equity securities fluctuate, and sometimes widely fluctuate, in response to activities specific to the issuer of the security as well as factors unrelated to the fundamental condition of the issuer, including general market, economic and political conditions.

For a complete list of fund risks, please see the prospectuses.

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 downloading them from this web site. You should 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 prospectus and, if available, the summary prospectus, should be read carefully before investing.

Shares of the American Independence Funds are distributed by Matrix 360 Distributors, LLC, which is not affiliated with RiskX Investments, LLC or Manifold Partners, LLC.

NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE.

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Information found on this site is directed to U.S. Investors. 

For more complete information on the American Independence and AI Funds, you can obtain a prospectus containing complete information for the Funds by calling 866.410.2006 or by downloading them from this web site. You should 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 prospectus and, if available, the summary prospectus, should be read carefully before investing.

Shares of the American Independence and AI Funds are distributed by Matrix 360 Distributors, LLC, which is not affiliated with Manifold Fund Advisors, LLC.

Manifold Fund Advisors, LLC is a limited liability company.

NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE.