Forward is closing its Forward Select Income Fund (KIFAX) to new investors. The change will take place tomorrow, March 30, 2012.
The four-star fund boasts about $1.4 billion in assets, about 28 percent of Forward's total, non-money market, mutual fund assets.
Company Press Release
FORWARD SELECT INCOME FUND CLOSING TO NEW INVESTORS
San Francisco, March 29, 2012 Forward, advisor to Forward Funds, announced today that it will close
the Forward Select Income Fund to most new investors beginning March 30, 2012. The closing will not
affect existing shareholders, who may continue to purchase shares. For information on the categories
of investors who may continue to invest in the fund, please click here
(http://www.forwardinvesting.com/FFOnline/FundPage.html?baseID=76)
The decision to close the fund was made to limit flows of new assets into the fund. The Select
Income Fund invests in preferred securities of real estate investment trusts with a focus on
generating income. The closing of the fund will help maintain the quality of its investments and
seeks to look after the best interests of the fund’s current shareholders.
Forward’s real estate investment team manages five mutual funds with $1.7 billion in total assets as
of December 31, 2011. The funds that remain open are Forward Real Estate Fund, Real Estate
Long/Short Fund, International Real Estate Fund and Global Infrastructure Fund.
With more than 20 years of shared history, Forward’s real estate team has honed its valuation and
analytical disciplines based on lessons learned through four major real estate industry cycles. The
team conducts rigorous on-the-ground global fundamental research with an emphasis on deep knowledge
of properties and management teams. It is also distinguished by hands-on research by portfolio
managers, access to an expansive industry network and proprietary modeling. Forward’s Real Estate
funds are team-managed with each fund having a lead portfolio manager.
About Forward
We believe investors today are seeking new tools and strategies to help them achieve their goals and
manage risk. Forward is an asset management firm that is helping to meet and anticipate those needs
with an extensive set of diverse, ever-evolving solutions. Providing broad access to innovative
strategies once available only to the largest and most sophisticated investors in a private format,
we are helping to lead the industry in a new direction. Forward manages $5.1 billion in mutual
funds, separate account strategies and limited partnerships as of December 31, 2011.
You should consider the investment objectives, risks, charges and expenses of the funds carefully
before investing. A prospectus with this and other information may be obtained by calling (800)
999-6809 or by downloading one from www.forwardinvesting.com and it should be read carefully before
investing.
Forward Select Income Fund seeks high current income and potential for modest long-term growth of
capital.
Forward Global Infrastructure Fund seeks total return through capital appreciation and current
income.
Forward International Real Estate Fund seeks total return from both capital appreciation and current
income.
Forward Real Estate Fund seeks income with capital appreciation as a secondary goal.
Forward Real Estate Long/Short Fund seeks total return through a combination of high current income
relative to equity investment alternatives, plus long-term growth of capital.
RISKS:
There are risks involved with investing, including loss of principal. Past performance does not
guarantee future results.
A fund that concentrates its investments in opportunities in the real estate industry or otherwise
invests in real estate-related securities is subject to the risks associated with direct ownership
of real estate. Real estate values can fluctuate as a result of general and local economic
conditions, over-building and increased competition, increases in property taxes and operating
expenses, changes in zoning laws, casualty or condemnation losses, regulatory limitations on rents,
changes in neighborhood values, increases in interest rates, and defaults by borrowers or tenants.
The value of equities that service the real estate business sector may also be affected by such
risks.
Foreign securities, especially emerging or frontier markets, will involve additional risks including
exchange rate fluctuations, social and political instability, less liquidity, greater volatility,
and less regulation.
A fund that concentrates in a particular industry will involve a greater degree of risk than a fund
with a more diversified portfolio. A “non-diversified” fund has the ability to invest a larger
percentage of its assets in the securities of a smaller number of issuers than a “diversified” fund.
The net asset value per share of a non-diversified fund can be expected to fluctuate more than that
of a comparable diversified fund.
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