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SAN FRANCISCO, July 12, 2007 - Forward Management, LLC today announced that Piedmont Investment Advisors, LLC has been named the sub-advisor for the Forward Large Cap Equity Fund (Ticker: FFLAX; FFLSX). This change comes after the previous sub-advisor, Affinity Investment Advisors, LLC, was acquired by Morgan Stanley Investment Management, Inc. The overall investment objective of the Fund will remain the same.
Isaac H. Green, CFA, president and chief investment officer of Piedmont, is the portfolio manager for the Fund. As of March 31, 2007, Piedmont had assets under management of $1.5 billion. Mr. Green founded Piedmont in August 2000 and has been the portfolio manager for Piedmont’s Strategic Core product since its inception in October 2000. From 1993 to 2000, Mr. Green was a managing partner at Loomis Sayles & Company, LLC and served on its board of directors. From 1988 to 1993, he was director of research and director of investment management at NCM Capital Management Group. Mr. Green received an A.B. from Duke University and an M.B.A. from Columbia University.
“Isaac and his team bring depth of experience, and their investment philosophy is an excellent fit for the fund”, explained J. Alan Reid, Jr., president of Forward Management. “We are excited to take their expertise to an even broader market.”
The Forward Large Cap Equity Fund invests at least 80% of its net assets in common and preferred stock of large cap U.S. companies. Piedmont combines a disciplined, top-down and bottom-up approach to equity investing. Piedmont focuses on striking an appropriate balance between risk and return in managing the Funds’ portfolio, monitoring the business cycle for its impacts on portfolio risk and return. The investment process begins with the formulation of a macro outlook which provides the context for its sector selection strategy. Using both quantitative and fundamental analysis, Piedmont ranks a universe of 1,000 large cap companies based on factors such as valuation, earnings momentum and relative strength before engaging in a qualitative review of a stock’s underlying business. The Fund’s portfolio will typically hold 30-40 stocks that reflect the composition of the Funds’ benchmark, the S&P 500.
The Forward Large Cap Equity Fund initially launched in October 2006. The Fund will continue to offer both Class A shares (FFLAX) and an institutional share class (FFLSX).
About Forward Management, LLC
Forward Management, LLC, based in San Francisco, is the investment advisor to the Forward Funds, a family of fourteen mutual funds. The firm also offers a range of separately managed accounts including REIT, Equity Income and Micro Cap. Forward Management is an affiliate of ReFlow Management Co., LLC, which developed ReFlow, an innovative liquidity tool for portfolio managers that provides enhanced performance and tax efficiency. ReFlow is used by the Forward Funds, as well as other leading mutual fund managers.
Forward Management offers institutional money managers, financial advisors and individual investors access to industry leading investment managers, investment products and services. The firm specializes in identifying sub-advisors who have long track records of managing assets in specific investment disciplines and asset classes. More information on Forward Management and the Forward Funds can be found at www.forwardfunds.com.
You should consider the investment objectives, risks, charges and expenses of the Forward 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.forwardfunds.com. It should be read carefully before investing.
There are risks involved with investing, including loss of principal. Past performance does not guarantee future results.
Forward Funds are distributed by ALPS Distributors, Inc.
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