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Rating:A San Francisco Shop Launches an Income Fund Not Rated 4.0 Email Routing List Email & Route  Print Print
Tuesday, August 06, 2013

A San Francisco Shop Launches an Income Fund

Reported by Tommy Fernandez

Forward Management [profile] has launched the Forward Select Income Opportunity Fund (FSOTX), a mutual fund that seeks total return through current income and long-term capital appreciation.

The fund will invest in equities, bonds and other senior securities, including preferred and hybrid securities, across a wide range of industry sectors including banks, insurance companies, real estate, industrials and telecoms.

The new product reportedly expands on the strategy it has successfully applied to investing in U.S. real estate securities in the $1.8 billion Forward Select Income Fund.

“We are aiming for income within the context of total return,” said Joel Beam, portfolio manager for Forward Select Income Opportunity Fund and Forward Select Income Fund.  “In today’s environment of low interest rates and tight spreads, we want to build a portfolio that seeks to provide reasonable income along with the preservation and growth of capital over time.”  

Here is the press release:
Company Press Release

NEW FORWARD FUND SEEKS GLOBAL OPPORTUNITIES FOR INCOME AND VALUE 

  Applies its $1.8 billion U.S. real estate strategy to a broader mix of assets??

San Francisco, August 6, 2013 – Forward (Forward Management, LLC http://www.forwardinvesting.com/ ) has launched Forward Select Income Opportunity Fund (FSOTX), a mutual fund that seeks total return through current income and long-term capital appreciation by investing across the capital structure of companies in the U.S. and globally. The fund pursues a value-oriented philosophy with a focus on senior securities.

??“We believe that in today’s climate, investors who want attractive yields and total returns need to look for unique, outcome-oriented strategies that transcend broad-market approaches,” said Forward CEO Alan Reid. “We think it’s the right time for a strategy that applies our expertise in senior securities to a broader and more flexible mix of bonds and equities.”   

??Forward Select Income Opportunity Fund http://www.forwardinvesting.com/products/mutual-funds/sector/select-income-opportunity/?ticker=FSONX will invest in equities, bonds and other senior securities, including preferred and hybrid securities, across a wide range of industry sectors including banks, insurance companies, real estate, industrials and telecoms. Forward’s new fund expands on the strategy it has successfully applied to investing in U.S. real estate securities in the $1.8 billion1 Forward Select Income Fundhttp://www.forwardinvesting.com/products/mutual-funds/sector/select-income/?ticker=KIFYX

??“We are aiming for income within the context of total return,” said Joel Beam, portfolio manager for Forward Select Income Opportunity Fund and Forward Select Income Fund.  “In today’s environment of low interest rates and tight spreads, we want to build a portfolio that seeks to provide reasonable income along with the preservation and growth of capital over time.”  

??Beam said that in focusing on companies in the world’s most developed nations, he is aiming for a risk/reward profile consistent with his philosophy of investing for long-term value. According to Beam, international banking reforms enacted since the financial crisis will result in “a substantial wave of new senior securities issuance” adding up to an estimated $100 billion over the next seven to 10 years. He estimates the total size of the senior securities universe as ranging from $250 billion to $300 billion. “The senior securities arena is one where an investor with the advantage of deep expertise can seek to be prudent and opportunistic at the same time,” said Beam.

??With more than 20 years of industry experience, Beam is a nationally recognized authority on preferred/senior securities and commercial real estate markets. He has been featured in Barron’s, The Wall Street Journal, Bloomberg Markets, Forbes and the book, Cash Is King: Investing in REIT Preferreds to Generate Long-term Income.?With this latest fund launch Forward continues to expand its roster of income-generating strategies. In addition to Forward Select Income Fund, these include a family of dividend strategies, an emerging market corporate debt fund and a range of real estate and bond strategies. Last spring the firm introduced Forward Income Builder Fund, which invests in a diverse mix of income-producing asset classes.   ?

??About Forward

??The world has changed, leading investors to seek new strategies that better fit an evolving global climate. Forward's investment solutions are built around the outcomes we believe investors need to be pursuing – non-correlated return, investment income, global exposure and diversification. With a propensity for unbounded thinking, we focus especially on developing innovative alternative strategies that may help investors build all-weather portfolios. An independent, privately held firm founded in 1998, Forward (Forward Management, LLC) is the advisor to the Forward Funds. As of June 30, 2013, we manage more than $5.7 billion in a diverse product set offered to individual investors, financial advisors and institutions. More information on Forward can be found at www.forwardinvesting.com.
 

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