SOURCE: Security Global Investors

Security Global Investors

December 15, 2009 09:00 ET

Security Global Investors Selected to Sub-Advise $100 Million in International Equity Assets

American Independence International Equity Fund Seeks to Provide Long-Term Capital Appreciation by Generating Returns in Excess of the MSCI EAFE Index With Less Risk*

SAN FRANCISCO, CA--(Marketwire - December 15, 2009) - Security Global Investors today announced that the firm's global equity investment team has been selected to sub-advise the American Independence International Equity Fund (IIESX). Shareholders of this Fund have approved the new mandate. The San Francisco-based team will manage the fund, which has approximately $100 million in assets, according to existing fund guidelines, while applying SGI's unique global philosophy and process.

"We are pleased to name Security Global Investors as the subadvisor to our International Equity Fund," says John J. Pileggi, Managing Partner of American Independence Financial Services, the Fund's Advisor. "SGI's global equity expertise and disciplined investment process make the firm an ideal manager for this strategy. American Independence believes active management with seasoned professionals who are intimately familiar with foreign markets and companies will add value for our shareholders. The SGI team has a distinguished and impressive history."

"We are very pleased to be entrusted with this mandate, which underscores our expertise in global equity investment management," says Richard Goldman, CEO, Security Global Investors. "SGI has experienced significant momentum this year with the American Independence mandate representing the latest win for our institutional business."

Led by seasoned global portfolio managers David Whittall and Scott Klimo, CFA, the SGI team employs a fundamental investment approach that emphasizes bottom-up stock picking to identify market inefficiencies and investment opportunities.

"We are active managers who seek to deliver consistent, excess, risk-adjusted returns through superior stock selection," says Whittall. "Our process relies heavily on in-depth modeling of companies and peer review by a team of skilled sector specialists."

Bringing diverse backgrounds and language skills to the research process, SGI's global sector specialists travel globally and speak with companies around the world to gain insight into the latest trends in business and commerce.

In addition to fundamental stock selection, SGI's global investment approach entails quantitative risk management as part of the portfolio construction process. Quantitative portfolio managers Mark Kress, CFA and Yon Perullo, CFA specialize in identifying, measuring and monitoring portfolio risks.

SGI global managers currently see opportunities in leading Asian banks, as well as select European and Asian consumer non durable and producer manufacturing companies. Top International Fund positions include holdings in Singapore's DBS Bank and the UK's Standard Chartered.

With more than 40 years of combined international and global experience, Whittall and Klimo have been employing global investing methodologies and advising institutional investors for well over a decade. The SGI global equity team was honored as one of the "best undiscovered managers" by PlanSponsor magazine in 2008.

*Measured as the standard deviation of returns.

About SGI | Security Global Investors

SGI|Security Global Investors manages approximately $21 billion in assets, and offers institutional investors and financial intermediaries a broad spectrum of traditional and nontraditional investment options that span five distinct disciplines -- actively managed specialty fixed-income, value, growth and global equity strategies, as well as quantitative investment management solutions. For more information call 800-213-1862.

About American Independence Funds

American Independence Financial Services LLC ("AIFS") sponsors, manages, and advises the American Independence Funds, as well as separate accounts for individuals and institutions. The Funds include domestic and international equity funds, municipal investments, fixed income and TIPS Funds, as well as the NestEgg Target Date Funds. More information is available at or by calling (866) 410-2006.

Security Global Investors is not affiliated with American Independence Funds.

International funds may not be suitable for all investors. There are special risk considerations associated with international investing, including fluctuating exchange rates, government regulations and differences in liquidity, which may affect the volatility of the fund. Please see the fund's prospectus for more information.

The MSCI EAFE Index (Europe, Australasia, Far East) is a free float-adjusted market capitalization index that is designed to measure developed market equity performance, excluding the U.S. and Canada. As of August 2009, the MSCI EAFE Index consisted of 21 developed market country indices. The MSCI EAFE is used as the benchmark for the international funds. Indices do not charge fees, and you cannot invest in an index.

Security Global Investors(SM) is the investment advisory arm of Security Benefit Corporation (Security Benefit). Security Global Investors consists of Security Global Investors, LLC, Security Investors, LLC and Rydex Investments. Rydex Investments is the primary business name for PADCO Advisors, Inc. and PADCO Advisors II, Inc.

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.

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 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.

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.


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