FolioMetrix is planning to merge with American Independence Financial Services (AIF) to create a new company, called RiskX Investments.
The new firm will offer a range of risk-intelligent investment solutions. The deal, whose terms are not disclosed, is expected to close in September 2015.
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RiskX Investments will manage a total of about $1.1bn in funds and separately managed accounts comprising the American Independence Funds (single-manager sub-advised funds and separately managed accounts) and the FolioMetrix Rx Fund Series (multi-strategy tactical mutual funds).
FolioMetrix president and CEO Jerry Murphey will take on the role of president at RiskX Investments, while American Independence managing partner John Pileggi will become the CEO of RiskX Investments.
Pileggi said: "The decision to merge with FolioMetrix was an easy one to make. Its team shares our dedication to continuously seeking new ways to deliver better investment outcomes during any market conditions."
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