|
NEW YORK, September 1, 2009 – Broadmark Asset Management, LLC (Broadmark) announced today that Norman E. Mains, Ph.D. and Jeffrey P. Cusack have been added to the Broadmark Board of Managers. Mr. Cusack is the president of Forward Management LLC (Forward) and Mr. Mains is a Managing Director and Chief Risk Officer at Forward.
Daniel J. Barnett, Chairman of Broadmark, is delighted to welcome Cusack and Mains to the Board saying, “We believe that their expertise and relevant experience will greatly enhance our entry into the mutual fund and separate account space.”
Chris Guptill, CEO and CIO of Broadmark added, “I’m extremely pleased with the addition of Jeff and Norman. Jeff’s leadership at Forward has focused on greater participation in alternative investments, and coupled with Norman’s extensive background in the hedge fund space, will greatly assist in our company’s growth.”
Forward recently took an ownership position in Broadmark, and the two firms have partnered to offer separately managed accounts based on the Broadmark Long Short Strategy. In addition, Forward plans to launch a mutual fund, Forward Tactical Growth Fund, which will be sub-advised by the investment team at Broadmark.
“We are seeing the evolution of hedged strategies to the mutual fund world, and our partnership with Broadmark is focused on expanding our alternative product offerings,” said Jeff Cusack, President of Forward Management. “Central to Forward’s strategy moving forward is our ability to bring new, alternative portfolios to the advisor channel, and our relationship with Broadmark is an important part of our strategy,” added Cusack.
Mr. Mains is a Managing Director at Forward, and he spearheads a variety of the firm’s existing and emerging activities, including oversight of new and existing products. He was formerly Executive Director and Chief Investment Officer for Morgan Stanley’s Graystone Research, a team focused on creating customized solutions using hedge funds and other alternative investments for high net worth individuals, family offices, institutions and foundations. He joined the firm after running a fund of hedge fund group at Carr Global Advisors. Previously, he was the executive director of product development for Dow Jones Indexes, a position he accepted after being the director of research and chief economist at the Chicago Mercantile Exchange. Mr. Mains began his professional career working for the mutual fund industry’s trade association, the Investment Company Institute, and then held a senior economist position at the Federal Reserve Board in Washington, D.C. He earned his Ph.D. in economics from the University of Warwick in the United Kingdom and holds M.A. and B.A. degrees from the University of Colorado.
Jeffrey P. Cusack is President of Forward. He was previously an Executive Vice President, Head of Sales and Marketing for JPMorgan Private Client Services, leading a group serving high net worth clients. Prior to that, Cusack was Senior Vice President and Head of Managed Accounts for Charles Schwab. For twelve years, Cusack was Senior Vice President and Divisional Director of Smith Barney Consulting Group where he supported Financial Consultants serving high net worth investors and institutions. Cusack is a Certified Investment Management Analyst.
About Forward Management, LLC
Forward Management, LLC, based in San Francisco, is the investment advisor to the Forward Funds and the Accessor Funds. The firm also markets a range of separately managed accounts. 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.forwardmgmt.com.
About Broadmark Asset Management, LLC
Broadmark is an investment advisor focused on outperforming the equity markets. They believe that portfolio risk and return can be enhanced with a strategy that is not required to be long only and fully invested, and that stock market risk can be addressed. They use a multi-factor process which seeks to identify market opportunities over time. Their investment management approach is research-driven, and employs a qualitative top-down analysis combined with quantitative risk management.
The underlying investments of the Fund (such as ETFs, and futures and options on securities, securities indexes and shares of ETFs) may involve heightened risks related to liquidity, increased volatility and unfavorable fluctuations in currency values. The underlying international and real estate investments may also be subject to economic or political instability in the U.S. and other countries, credit risk and interest rate fluctuations. Investors will indirectly bear the expenses of the Fund's underlying investments. The Fund’s use of short selling involves additional risks and transaction costs, and creates leverage, which can increase the volatility of the Fund.
You should consider the investment objectives, risks, charges and expenses of the Forward Funds carefully before investing. A prospectus, when available, 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.
A registration statement relating to the Forward Tactical Growth Fund has been filed with the Securities and Exchange Commission. This Fund may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. The registration statement does not constitute an offer to buy nor shall there be any sale of this Fund in any State in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State.
Forward Funds are distributed by ALPS Distributors, Inc.
FWD002115 073110
|
