FolioMetrix has completed its merger with American Independence Financial Services (AIF) to create a new entity called, RiskX Investments.
The new firm will offer a range of risk-intelligent investment solutions and manages a total of about $1.1bn in funds and separately managed accounts including American Independence single-manager sub-advised funds and separately managed accounts as well as the Rx Funds multi-strategy tactical mutual fund series.
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RiskX Investments offers financial advisors and institutions access to a range of selected sub-advisers and strategists.
The firm will be headed by a team of investment staff and has the backing and financial resources to conduct its ambitious growth plans.
As part of deal, FolioMetrix president and CEO Jerry Murphey will become president at RiskX Investments, while American Independence managing partner John Pileggi will become the CEO of RiskX Investments.
Pileggi said: "This merger unites American Independence’s management expertise and proud tradition of active investing with FolioMetrix’s progressive approach to investment management research and portfolio design."
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By GlobalDataMurphey said: "Our mission is to deliver value to financial advisors by providing the missing ingredient between investor expectations and market movement. Delivering information, education, training, and the essential portfolios, in every format, are critical to achieving our mission."
