New York-based American Independence Financial Services, LLC announced that the RIA team led by Richard "Rick" Baird would become principal portfolio manager for its Large Cap Value strategy, including the American Independence Stock Fund.

Baird will be joined at American Independence by Chris Jacobs, as assistant portfolio manager, along with Dave Hansen, chief executive of Yellowstone Partners. Hansen will continue management of over $600 million for Idaho Falls, ID-based Yellowstone.

The $170 million fund’s net expense ratio range from 149 basis points to 218 bps.

According to John Pileggi, managing partner of American Independence, the fund has outperformed the S&P 500 Index for 12 of the past 13 years under three different teams of managers. “We have had the great fortune to combine aptitude and achievement when we have made each change, and are confident that Rick and his team will continue the Fund's traditional record of best-in-class performance," he stated.