Forward Funds is giving its multi-strategy fund a facelift.
According to a filing, the Forward Aggressive Growth Allocation Fund will be renamed Forward Multi-Strategy Fund effective December 3. The fund bets on a combination of other Forward Funds including the U.S. equity, frontier and emerging market, international equity, U.S. fixed-income, international fixed-income, money market, long/short, tactical and other alternative investment strategies. Also, the HFRI Fund of Funds Composite Index is added as an additional benchmark index for the fund, effective December 3.
As of October 25, the $18.6 million fund was up 11.52%, according to Bloomberg. It sports an expense ratio of 136 basis points.
A spokesperson for the firm was not immediately available for comment on the filing.
The firm is also plans to liquidate Forward CorePlus (AGROX) on Dec. 17, according to Morningstar. The $35 million is up 14% through the end of September, trailing the S&P 500 total Return (16.44%).