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Forward Management invests in Broadmark Asset Management

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Investment adviser Forward Management has taken a minority ownership position in Broadmark Asset Management.

Investment adviser Forward Management has taken a minority ownership position in Broadmark Asset Management.

Forward plans to launch a mutual fund, Forward Tactical Growth Fund, which will be sub-advised by the investment team at Broadmark.

Forward and Broadmark recently partnered to offer separately managed accounts based on the Broadmark Long Short Strategy.

Broadmark is an investment adviser focused on outperforming the equity markets. It believes 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. It uses a multi-factor process which seeks to identify market opportunities over time.

‘Broadmark’s strength in up and down markets will give our clients unique access to a management style that seeks to maximize market opportunities and minimize market risk,’ says J. Alan Reid (pictured), chief executive of Forward Management.

Forward Tactical Growth Fund’s investment objective is to produce above-average, risk-adjusted returns, in any market environment, while exhibiting less downside volatility than the market itself. In attempting to achieve this objective, the fund will be able to invest in both US and non-US securities, including exchange traded funds, equities, fixed income and derivatives. The fund’s strategy includes evaluating individual securities, sectors and entire markets to determine if they are over or undervalued, and accordingly to take both long or short positions as a result of their analysis. The fund will accomplish this by primarily investing through ETFs.

‘We are seeing advisors modifying their traditional manager allocation and rebalancing approach. When correlations all went to ‘1,’ that approach did little to manage risk. As a result, many are making an additional allocation to products that manage risk and enhance alpha by having the flexibility to be long, short or neutral on the market,’ adds Jeff Cusack, president of Forward Management.

The equity investment in Broadmark is the fourth investment or acquisition Forward has completed in the last 11 months.

 ‘We are excited to partner with Forward to expand access to our investment strategies that have been traditionally limited to hedge funds and now will be made available via mutual funds and separately managed accounts,’ says Chris Guptill, chief executive and chief investment officet of Broadmark Asset Management.

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