American Indep Fusion A
American Independence Funds3435 Stelzer RoadColumbus, OH 43219
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Phone: 866-410-2006
| Category: | Multialternative | | Fund Family: | American Independence | | Net Assets: | 6.60M | | Year-to-Date Return: | 1.71% | | Yield: | 0.00% | | Morningstar Rating: |  | | Fund Inception Date: | Jun 29, 2011 |
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Francis D. Ledwidge
Lead Manager since Jun 30, 2011 | | | Francis Ledwidge is the Chief Investment Officer of Eddystone Capital LLC, the Manager of the Eddystone Fund LP and Investment Manager of the Eddystone Offshore Fund. Since 1997, Mr. Ledwidge has been a Principal of Eddystone LLC, the General Partner of the Eddystone Fund LP, which he has managed since January 1, 1999. As of September 23, 2009 Mr. Ledwidge joined the board of Artio Global Investors Inc. (NYSE:ART) as an independent director. From 1989 to 1995, Mr. Ledwidge was the Chief Investment Officer of Bankers Trustâs international private banking division in the United States and Switzerland. The New York unit tripled assets to over $2 billion under his leadership. In addition, he established and managed a five-star Morningstar rated international equity mutual fund during this time. Later, he was also responsible for much of Bankers Trustâs institutional international and global asset management businesses. For the prior thirteen years, Mr. Ledwidge worked at Robert Fleming (1976-1989), first as a portfolio manager in London and then as a sell side research director in New York. As one of the first international investors in the late 1970s he managed a variety of regional and global equity mandates for institutional investors from the United States to Australia. In 1979 he helped found the first collective vehicle for Canadian pension funds to invest outside North America. During his tenure, his unitâs assets grew from under $100 million in assets to over $3 billion. Prior to joining Flemings he worked as a buy side analyst at a UK investment trust. He received his BA (Hons) degree from Sheffield University in 1972. |
| Min Initial Investment: | 5,000 | | Min Initial Investment, IRA: | 250 | | Min Initial Investment, AIP: | 5,000 | | Min Subsequent Investment: | 250 | | Min Subsequent Investment, IRA: | 250 | | Min Subsequent Investment, AIP: | 25 |
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| The investment seeks long-term capital appreciation.
The fund normally holds long and short positions in equities traded in the U.S. and exchange-traded funds ("ETFs") representing U.S., global and international indices. It invests in equities and ETFs in both developed and emerging markets outside the U.S. The fund maintains a net delta adjusted exposure range from 40% to 80%. It will hold long positions with an aggregate value of up to 100% of its net assets and establish short positions of up to 45% of its net assets. The fund invests up to 30% of its net assets, plus borrowings for investment purposes, in U.S. Government bonds. |
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| N/A | | Average for Category: | 145.08% |
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| Expense | AFFAX | Category Avg |
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| Annual Report Expense Ratio (net): | 2.40% | 1.79% | | Prospectus Net Expense Ratio: | 2.45% | N/A | | Prospectus Gross Expense Ratio: | 6.85% | N/A | | Max 12b1 Fee: | 0.50% | N/A | | Max Front End Sales Load: | 5.75% | 5.40% | | Max Deferred Sales Load:
| N/A | 1.28% | | 3 Yr Expense Projection*: | 2,132 | 982 | | 5 Yr Expense Projection*: | 3,381 | 1,667 | | 10 Yr Expense Projection*: | 6,306 | 3,299 |
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0.03(0.14%) May 20