and announces reorganization of mutual fund families
NEW YORK, Nov. 30 -Arrivato Advisors LLC ("Arrivato Advisors") and INTRUST Bank ("INTRUST") announced today that they have entered into an agreement whereby Arrivato Advisors will acquire INTRUST Financial Services Inc. ("IFS"), a wholly owned subsidiary of INTRUST Bank, and certain other assets related to its mutual fund business. IFS is the investment adviser to The American Independence Funds, a mutual fund complex with more than $600 million in assets. Arrivato Advisors, which created the first series of products based on the Dow Jones U.S. Target Date Indexes as a result of a licensing agreement between Arrivato Advisors and Dow Jones Indexes, will succeed IFS as the investment adviser to 10 mutual funds in The American Independence Funds Trust, pending shareholder and regulatory approvals. The Boards of the Trustees of American Independence Funds and the Arrivato Funds Trust have approved the transaction.
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According to Eric Rubin, President, Arrivato Advisors, "We are extremely pleased to broaden our product line with these outstanding mutual funds. We look forward to building upon INTRUST's excellent performance record and reputation for high-quality investment management and client service. This transaction will not alter the key investment objectives of the reorganized funds and shareholder expense ratios will decline. We believe that this transaction will benefit both the Arrivato Dow Jones U.S. Target Date Funds and American Independence Funds' shareholders."
Charles Q. Chandler IV, Chairman, President, & CEO, INTRUST Bank, said "I believe Arrivato Advisors will sustain the reputation for excellent service and high quality products built by INTRUST Financial Services. Our clients will benefit by gaining access to the industry experience of the Arrivato Advisors' founders and should find this to be a smooth transition. Our two organizations are an excellent fit and we are very pleased to share in this venture."
At the close of the transaction, Arrivato Advisors will be renamed American Independence Financial Services. American Independence Financial Services will be the manager of the American Independence Funds, which will include the combined NestEgg Funds and Arrivato Dow Jones U.S. Target Date Funds. The result of the reorganization will be:
* The Arrivato Dow Jones U.S. 2010 Fund and the NestEgg Capital
Preservation Fund will merge and become the NestEgg Dow Jones U.S. 2010
Fund;
* The Arrivato Dow Jones U.S. 2015 Fund and the NestEgg 2010 Fund will
merge and become the NestEgg Dow Jones U.S. 2015 Fund;
* The Arrivato Dow Jones U.S. 2020 Fund and the NestEgg 2020 Fund will
merge and become the NestEgg Dow Jones U.S. 2020 Fund;
* The Arrivato Dow Jones U.S. 2030 Fund and the NestEgg 2030 Fund will
merge and become the NestEgg Dow Jones U.S. 2030 Fund;
* The Arrivato Dow Jones U.S. 2040 Fund and the NestEgg 2040 Fund will
merge and become the NestEgg Dow Jones U.S. 2040 Fund;
* The American Independence Ultra Short Bond Fund will be known as the
American Independence Short Term Bond Fund. Commerce Bank Asset
Management, an affiliate of Commerce Bank in New York, New Jersey and
Pennsylvania, will assume the sub-advisory function;
* The American Independence Intermediate Bond Fund will continue also with
Commerce Bank Asset Management as sub-advisor;
* The American Independence Stock Fund will be known as the American
Independence Value Equity Fund. Barrow, Hanley, Mewhinney & Straus,
Inc. will continue as sub-advisor;
* The American Independence International Multi-Manager Stock Fund will be
reorganized as the American Independence International Equity Fund and
will also be sub-advised by Barrow, Hanley, Mewhinney & Straus, Inc.;
and
* The American Independence Kansas Tax-Exempt Bond Fund will remain and be
managed by American Independence Financial Services.
The NestEgg Dow Jones U.S. Target Date funds will seek to track the over-all performance of the Dow Jones U.S. Target Date Indexes, less operating expenses.
Investing in the Funds involves risk. Equity securities are more volatile and carry more risk than other forms of investments. 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.
Information for the Nest Egg Dow Jones U.S. Target Date Funds and the renamed American Independence Funds herein is subject to completion or amendment. A registration statement relating to these securities has been filed with the Securities and Exchange Commission. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This document shall not constitute an offer to sell or the solicitation of an offer to buy these securities in any State in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such State.
When available, you can obtain a prospectus containing complete information for the new funds by calling 866-410-2005. 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.
The Funds are new to the market and possess no performance history. There is no guarantee that the Funds will achieve their objectives. Shares of Arrivato Dow Jones U.S. Target Date Funds are distributed by BISYS Fund Services Limited Partnership, which is not affiliated with Arrivato Advisors, LLC.
About Arrivato Advisors, LLC
Arrivato Advisors LLC is a registered investment management firm, founded to serve as an investment advisor for both institutional and retail investors. Based in New York's Empire State Building, the Company offers a wide range of domestic equity and fixed income products and has obtained a license from Dow Jones Indexes to offer new and innovative financial products based upon specific indexes. With more than 40 years of combined investment advisory and mutual fund experience, the firm's two senior officers founded Arrivato with the goal of offering quality investment products to reach specific objectives, while respecting unique time horizons and tolerances for risk. Please visit us on the web at http://www.arrivatofunds.com.
About INTRUST Bank
Founded in 1876, INTRUST Bank has grown to become a leading financial services provider in the Midwest, with assets of $2.9 billion. Its parent company, INTRUST Financial Corporation, is the largest independent bank holding company headquartered in Kansas. With a long-standing commitment to exceptional service, quality products and cutting-edge technology, INTRUST is known throughout the region as the best resource for personal and business financial services. INTRUST is convenient with a nationally recognized online banking site (http://www.intrustbank.com), extended hours in its 42 branch network in Kansas and Oklahoma, and more than 100 ATMs. INTRUST also offers a wide range of wealth management services, including private trust services, discount brokerage, and employer-sponsored retirement plans.
