Forward Commodity Long/Short Strategy Fund Now Available at Major Wirehouses

SAN FRANCISCO, Jan. 26, 2012 /PRNewswire/ -- Forward Management, LLC announced that its Forward Commodity Long/Short Strategy Fund is now available at Merrill Lynch and Morgan Stanley Smith Barney.  According to Lipper ratings, the Forward Commodity Long/Short Strategy Fund is the leader for one-year (total return) performance among 36 peers eligible in the "commodities general" category for the period ended December 31, 2011. 

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The fund is also available at Charles Schwab, Fidelity, LPL Financial, Matrix Clearing, Pershing and TD Ameritrade.  

Forward recently introduced Class M shares for the Commodity Long/Short Strategy Fund for use in fee-based advisor platforms and retirement accounts.

The fund's widening availability reflects investors' and advisors' rapidly growing interest in commodities. Commodity mutual funds and exchange-traded funds attracted $15.8 billion of net inflows in the twelve months through November 30, 2011, according to Strategic Insight. Assets in commodity funds grew by 24.5% during that time, the largest increase of any fund type. In the three years leading up to November 30, 2011, commodity funds had net inflows of $81.4 billion.

Designed to produce positive returns in both upward and downward-trending commodity markets, the Forward Fund invests broadly across the 24 commodities in the S&P GSCI Index. It is one of the very few pure commodity-focused long/short mutual funds currently available.   

Forward's strategy is a trend-following approach that uses volatility-adjusted momentum to invest long or short in commodities that rank highest in positive or negative returns over previous months, subject to diversification rules.  Rankings are recalculated and the portfolio is rebalanced monthly.

The Commodity Long/Short Strategy Fund is one of Forward's growing suite of alternative strategies available as mutual funds.  Forward now offers seven long/short funds and a total of twelve alternative funds in a variety of asset classes, including equity, global and domestic fixed income and real estate.  As of November 30, 2011, Forward Management ranked among the top 20 asset managers in the U.S. in terms of year-to-date alternative asset flows, according to Strategic Insight.

Portfolio manager Nathan Rowader discusses the commodity asset class and the historical performance of long/short vs. long-only strategies in his  recent whitepaper, "What Every Investor Should Know About Commodities," available on Forward's website.

About Forward Management, LLC
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, we are helping to lead the industry in a new direction. As of December 31, 2011, Forward manages $5.1 billion in mutual funds, separate account strategies and limited partnerships.  More information on Forward Management and the Forward Funds can be found at www.forwardmgmt.com.

Please consider the objectives, risks, charges and expenses carefully before investing in the fund. A prospectus with this and other information may be obtained by calling (888) 312-4100 or by visiting www.forwardfunds.com. Please read carefully before making a final investment decision.

Past performance is no guarantee of future results, share prices will fluctuate, and you may have a gain or loss when you redeem shares.

RISKS
Exposure to the commodities markets may subject a fund to greater volatility than investments in traditional securities. The value of commodity-linked derivative instruments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. A fund's use of derivative instruments involves risks different from the risks associated with investing directly in securities and certain derivatives may create a risk of loss greater than the amount invested. Derivatives increase volatility and transaction costs and may reduce performance. A fund that invests in Exchange Traded Funds (ETFs) will be subject to substantially the same risks as those associated with the direct ownership of the securities or other property held by the ETFs. Mortgage-backed securities do not have a fixed maturity, and their expected maturities may vary when interest rates rise or fall. Mortgage-backed securities are subject to prepayment risk and are subject to extension risk, which is the risk that a fund that holds mortgage-backed securities may exhibit additional volatility during periods of rising interest rates. Small movements in interest rates may quickly and significantly reduce the value of certain mortgage-backed securities. 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. By investing in a subsidiary organized under the laws of the Cayman Islands, the fund will be indirectly exposed to the risks associated with the subsidiary's investments, which are generally similar to those that are permitted to be held by the fund. The subsidiary is not registered under the Investment Company Act of 1940.

Alternative strategies typically are subject to increased risk and loss of principal. Consequently, investments such as mutual funds which focus on alternative strategies are not suitable for all investors.

The Forward Commodity Long/Short Strategy Fund seeks long term total return.

The S&P GSCI (formerly the Goldman Sachs Commodity Index) serves as a benchmark for investment in the commodity markets and as a measure of commodity performance over time.

It is not possible to invest directly in an index.

The fund had negative performance in May, June, August and October.

Alan Reid and Nathan Rowader are registered representatives of ALPS Distributors, Inc. Forward Funds are distributed by ALPS Distributors, Inc. ALPS Distributors, Inc., is not affiliated with Forward Management, Kanter and Company, Merrill Lynch, Morgan Stanley Smith Barney, Charles Schwab, Fidelity, LPL Financial, Matrix Clearing, Pershing and TD Ameritrade.

Although Lipper makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Lipper. Lipper ratings, Lipper research and Lipper fund data are not intended to predict future results. This does not constitute and is not intended to constitute investment advice or an offer to sell or the solicitation of an offer to buy any security of any entity in any jurisdiction. More information is available at www.lipperweb.com. Thomson Reuters Copyright 2012, All Rights Reserved.

Contact: Victoria Odinotska
Kanter & Company
(703) 534-3735

SOURCE Forward Management, LLC