UMB Fund Services (UMBFS), a subsidiary of Wisconsin-based UMB Financial, has been selected to provide mutual fund accounting, administration and tax services to the American Independence Funds.

Currently, American Independence Funds comprise 15 mutual funds with approximately $900m in combined assets under management. The fund complex is expected to grow to have 19 funds by year-end.

UMBFS said that the services are expected to commence in the third quarter of 2010.

John Zader, CEO of UMBFS, said: “I am proud that UMBFS will have the privilege of providing accounting, administration and tax services for a client the size and caliber of the American Independence Funds. Being chosen from among our peers speaks highly of our team’s expertise, capabilities, and client-service focus.”

Eric Rubin, president of American Independence Financial Services and advisor to the American Independence Funds, said: “American Independence will continually be introducing products which are innovative, and we need a partner that can keep up with the technical demands of an increasingly complex marketplace.

“UMB Fund Services impressed us in a number of ways. Not only do they offer the products, services and technology of some of the larger players, but they also combine this with a highly motivated, experienced, innovative team that is a great cultural fit with our organization. We feel strongly that they’ll be a partner we can work with and grow with.”

American Independence Financial Services is the investment advisor and administrator for the American Independence Funds.