Forward Management has launched the Forward Tactical Growth Fund, a mutual fund that will try to take advantage of market inefficiencies all the while minimizing downside volatility, by taking long, short of neutral market positions on individual securities, sectors or entire markets. Broadmark Asset Management is sub-advisor to the fund, which is a 40 Act version of a similar separately managed account the two firms already offer.
The primary holdings of the fund, which can leverage holdings up to 120% net long and 100% net short, will be exchange-traded funds and futures. Its research-driven approach combines qualitative top-down analysis and quantitative risk management.
“We have found a partner whose track record over the past six years offered compelling performance while helping to limit the downside,” said J. Alan Reid, chief executive officer of Forward. “We are excited to bring mutual fund investors access to a tactical strategy of this caliber.”
Jeff Cusack, president of Forward, added, “We are seeing advisers migrate to products that manage risk and enhance alpha by having the flexibility to be long, short or neutral on the market.”