SAN FRANCISCO, March 31, 2005 - Forward
Management, LLC (Forward) announced the launch of the Forward
Legato Fund (the Fund), a multi-manager small cap fund with a
team of experienced investment managers.
The Forward Legato Fund seeks to achieve high total return by investing at least
80% of its assets in equity securities of companies that offer future growth
potential with market capitalizations no larger than $3.0 billion. The Fund anticipates
that its investment returns are likely to be in the form of capital appreciation
rather than income, since small capitalization companies often do not pay regular
dividends. The Fund may also invest up to 20% of its assets in foreign investments.
The Fund employs a multi-manager approach, and the three sub-advisors to the
Fund have distinct and complementary investment styles. Each manager acts independently
from the other and uses its own methodology to select portfolio investments.
Mark A. Thompson at Riverbridge Partners, LLC, assisted by three analysts, selects
investments using a growth style approach, focusing on companies that are building
their earnings power, as well as the intrinsic value of each company over long
periods of time. Value style investment manager, Jeffrey W. Netols at Netols
Asset Management, Inc. invests in undervalued companies that are undergoing changes
in their financial, organizational or operational management which Netols' believes
can create significant investment opportunities. William Martindale, Jr. and
Robert M. Mitchell at Conestoga Capital Advisors, LLC utilize a core style investment
strategy selecting securities of well-managed companies with above average earnings
growth and lower valuation multiples, versus the Fund's benchmark, the Russell
2000 Index.
"With the launch of the Forward Legato Fund, we add another great small cap option
to our mutual fund line up," said Alan Reid, President of Forward Funds. "We
have identified best-in-class, emerging small cap portfolio managers who seek
to provide alpha utilizing growth, value and core styles. In addition, the multi-manager
approach offers manager diversification and enhanced investment capacity for
the Fund."
The Fund's Class A shares have an initial sales load of 4.75% of the offering
price. The minimum initial investments are: $2,500 for non-retirement accounts;
$1,000 for retirement and education savings accounts and $500 for Automatic Investment
Plan investments.
About Forward Management, LLC
Forward Management, LLC, based in San Francisco, provides investment management
services and products for institutional money managers, financial advisors and
individual investors. Forward specializes in identifying sub-advisors who have
long track records of managing assets in specific investment disciplines and
asset classes. It has partnered with a range of sub-advisors to create two different
mutual fund families, the Forward Funds, a family of six no-load Funds and the
three Sierra
Club Mutual Funds.
For more information about the Forward Legato Fund and other Forward Funds, including
investment objectives, risks, charges, management fees and expenses, visit www.forwardfunds.com
or call (800) 999-6809. For more information about the Sierra Club Mutual Funds,
visit www.sierraclubfunds.com or call (866) 897-5982. Please read the prospectus
carefully before investing. Forward Management also provides sales and marketing
services for Forward Uniplan Advisors, Inc.
You should consider the investment objectives, risks, charges and expenses of
the Fund carefully before investing. A prospectus with this and other information
about the Forward Legato Fund may be obtained by calling (800) 999-6809 and read it carefully before investing.
Small company stocks are generally riskier than large company stocks due to greater
volatility and less liquidity.
Foreign securities will involve additional risks, social and political instability,
reduced market liquidity and currency volatility.
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