Salient Celebrates 15-Year Anniversary of the Forward Select Income Fund
HOUSTON, April 13, 2016 /PRNewswire/ -- Salient Partners, L.P. ("Salient"), a diversified asset management firm and leading provider of alternative and real asset investment strategies, is pleased to announce the 15-year anniversary of the Forward Select Income Fund ("Fund") class A shares (NASDAQ: KIFAX). The Fund invests in a portfolio of senior securities and high-income equities primarily issued by real estate investment companies. As of March 31, 2016, the Fund's institutional share class (NASDAQ: KIFYX) received a five-star rating from Morningstar out of 37 funds in the preferred stock category.
Portfolio manager Joel Beam, who has overseen the Fund since its inception on March 30, 2001, has over 20 years of experience in real estate securities research and investment management. While the Fund's focus is on real estate investment trust ("REIT") preferred securities, its allocation among preferred stocks, common stocks and bonds may shift in response to market conditions. The Fund is available to U.S. retail and institutional investors.
"Over the past 15 years, my team and I have pursued a value-oriented approach to investing in property securities and a methodology that focuses on cash flow, asset quality and management talent and incentives," said Joel Beam, managing director and senior portfolio manager at Salient. "By combining this investment methodology with our team's extensive transaction expertise, we have developed a unique and successful approach that has benefitted our investors over the long term."
"Since getting to know Joel and his team, I have found their investment acumen virtually unrivaled," said Lee Partridge, chief investment officer at Salient. "Moreover, only 10% of products in the mutual fund universe have at least a 15-year track record with the same portfolio manager since inception. Both of these exceptional characteristics make Joel's stewardship of the Forward Select Income Fund a compelling opportunity for investors."
As of March 30, 2016, the Fund's 15-year annualized return is 8.77% for class A shares (NASDAQ: KIFAX).
For more information about the fund, please visit http://www.salientpartners.com/strategies/forward-select-income-fund. To learn more about Salient's investment strategies, please visit http://www.salientpartners.com/strategies.
DISCLOSURES
Standard Performance |
|||||||
Q1 2016 |
YTD |
1 Year |
3 Year |
5 Year |
10 Year |
Inception* |
|
Forward Select Income Fund (NAV) 1 |
2.44% |
2.44% |
-1.60% |
4.71% |
7.99% |
5.33% |
8.82% |
Forward Select Income Fund (MOP) 2 |
-3.46% |
-3.46% |
-7.27% |
2.66% |
6.71% |
4.70% |
8.39% |
BofA Merrill Lynch Preferred Index |
1.60% |
1.60% |
5.72% |
5.75% |
6.78% |
3.33% |
4.27% |
Source: ALPS, as of March 31, 2016
Gross/Net Expenses: 1.88% / 1.88%
Returns for periods greater than one year are annualized.
* Inception date: 03/30/01
1. Excludes the effects of the 1% contingent deferred sales charge.
2. Reflects effects of the fund's maximum sales charge of 5.75%.
The performance quoted represents past performance, does not guarantee future results and current performance may be lower or higher than the data quoted. The investment return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Performance data current to the most recent month-end may be obtained at www.salientfunds.com. Investment performance may reflect fee waivers in effect. In the absence of fee waivers, total return would be lower. Total return is based on NAV, assuming reinvestment of all distributions. Performance does not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.
There are risks involved with investing, including loss of principal. Past performance does not guarantee future results, share prices will fluctuate and you may have a gain or loss when you redeem shares.
This material is distributed for informational purposes only and should not be considered as investment advice, a recommendation of any particular security, strategy or investment product, or as an offer or solicitation with respect to the purchase or sale of any investment. Statistics, prices, estimates, forward-looking statements, and other information contained herein have been obtained from sources believed to be reliable, but no guarantee is given as to their accuracy or completeness. All expressions of opinion are subject to change without notice.
Neither diversification nor asset allocation assures profit or protects against risk.
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.salientfunds.com. It should be read carefully before investing.
For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating™ based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of the funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) Forward Select Income Fund was rated against the following numbers of U.S.-domiciled Preferred Stock funds over the following time periods: 37 funds in the last three years and for the Overall rating, and 32 funds in the last five years. With respect to these Preferred Stock funds, Forward Select Income Fund received a Morningstar Rating™ of 4 stars and 5 stars for the three- and five-year periods, respectively.
The Overall Morningstar Rating™ for a fund is derived from a weighted average of the performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating™ metrics.
Rating is for the Institutional (NASDAQ: KIFYX) share class only; other classes may have different performance characteristics.
About Salient
Salient is a diversified asset management firm and leading provider of alternative and real asset investment strategies for institutional investors and investment advisors. The firm offers a comprehensive suite of single-asset and multi-asset solutions designed to serve as powerful building blocks for smarter, more efficient portfolios. Strategies are offered in the form of open- and closed-end funds and separately managed accounts. Salient provides unconventional market insights in its highly acclaimed Epsilon Theory newsletter and FWD Thinking blog. Learn more about Salient at www.salientpartners.com and follow us on LinkedIn and Twitter. Salient was founded in 2002 and has offices in Houston, San Francisco, New York and Newport Beach.
Forward Funds are distributed by Forward Securities, LLC.
Not FDIC Insured | No Bank Guarantee | May Lose Value
©2016 Salient Partners, L.P. All rights reserved.
Media Inquiries
Catherine P. Jones
Polisi Jones Communications
Tel: (917) 330-8934
Email: [email protected]
SOURCE Salient Partners, L.P.
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