Copyright © 2017 Manifold Fund Advisors, LLC
Information found on this site is directed to U.S. Investors.
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.
An investor should consider the investment objectives, risks, and charges and expenses of a Fund carefully before investing. The prospectus contains this and other information about the Fund. The prospectus should be read carefully before investing.
Portfolio diversification and active risk management do not assure a profit or protect against losses in a declining market.
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.
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 Manifold Partners 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.
Tracking Error Risk. ETFs typically trade on securities exchanges and their shares may, at times, trade at a premium or discount to their net asset values. In addition, an ETF may not replicate exactly the performance of the benchmark index it seeks to track for a number of reasons, including transaction costs incurred by the ETF, the temporary unavailability of certain index securities in the secondary market or discrepancies between the ETF and the index with respect to the weighting of securities or the number of securities held.
Emerging Markets Risk. The Fund may invest in foreign securities that may include securities of companies located in developing or emerging markets, which entail additional risks, including: less social, political and economic stability; smaller securities markets and lower trading volume, which may result in less liquidity and greater price volatility; national policies that may restrict securities investment opportunities, including restrictions on investments in issuers or industries, or expropriation or confiscation of assets or property; and less developed legal structures governing private or foreign investment.
Commodities Risk. Investments in commodities, such as gold, or in commodity-linked instruments, will subject the Global Tactical Allocation Fund's portfolio to volatility that may also deviate from price movements in equity and fixed income securities.
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 and AI Funds, you can obtain a prospectus containing complete information for the Funds by calling 866.410.2006 or by visiting www.americanindependence.com. 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 Manifold Fund Advisors, LLC or Manifold Partners, LLC.
NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE.
Manifold Fund Advisors, LLC is a limited liability company.
Manifold Fund Advisors is an Investment Advisor and the advisor to the American Independence Funds Trust. Request Form ADV Part 2A for a complete description of Manifold Fund Advisors, management services, and other important information. Please be aware of the specific risks associated with any investment product and always read the prospectus before investing, As such, your investments may lose value or you may lose the principal investment.
All information contained herein is for informational purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy, securities or advisory services. It is not our intention to state or imply in any manner that past results and profitability is an indication of future performance. All materials are compiled from sources believed to be reliable. However, accuracy cannot be guaranteed. Before making an investment decision, prospective investors should carefully read all material provided.