The Forward Funds have announced ordinary income distributions. Shareholders of record as of December 27, 2006 are eligible to receive income distributions, and each fund’s income distribution will vary across share classes.
| RECORD DATE |
December 27, 2006 |
| EX-DATE/REINVEST DATE |
December 28 , 2006 |
| PAYABLE DATE |
December 28, 2006 |
| |
| Forward Funds |
Share Class |
Per Share Distribution |
| Forward Emerald Opportunities Fund |
Class C |
0.0000 |
| Forward Emerald Opportunities Fund |
Class A |
0.0000 |
| Forward Emerald Growth Fund |
Class C |
0.0000 |
| Forward Emerald Growth Fund |
Class A |
0.0000 |
| Forward Emerald Banking and Finance Fund |
Class C |
0.0000 |
| Forward Emerald Banking and Finance Fund |
Class A |
0.0000 |
| Forward Hoover Small Cap Equity Fund |
Investor |
0.0000 |
| Forward Hoover Small Cap Equity Fund |
Institutional |
0.0000 |
| Forward Hoover Small Cap Equity Fund |
Class A |
0.0000 |
| Forward Hoover Mini-Cap Fund |
Investor |
0.0000 |
| Forward Hoover Mini-Cap Fund |
Institutional |
0.0000 |
| Forward International Equity Fund |
Investor |
0.1192 |
| Forward Progressive Real Estate Fund* |
Investor |
0.0944 |
| Forward Global Emerging Markets Fund |
Investor |
0.0629 |
| Forward Global Emerging Markets Fund |
Institutional |
0.1162 |
| Forward International Small Companies Fund |
Investor |
0.0427 |
| Forward International Small Companies Fund |
Institutional |
0.0810 |
| Forward International Small Companies Fund |
Class A |
0.0063 |
| Sierra Club Equity Income Fund |
Investor |
0.0091 |
| Sierra Club Stock Fund |
Investor |
0.0061 |
| Sierra Club Stock Fund |
Class A |
0.0088 |
| Forward Legato Fund |
Class A |
0.0000 |
| Forward Large Cap Equity Fund |
Class A |
0.0239 |
The distribution amounts will be subtracted from each specific fund's closing price per share on Thursday, December 28, 2006.
If you have any questions, please contact us at (888) 312-4100.
*Before October 30, 2006, the fund was named the Forward Uniplan Real Estate Investment Fund.
You should consider the investment objectives, risks, charges and expenses carefully before investing. A prospectus with this and other information about the funds may be obtained by calling (888) 312-4100 or by downloading one from www.forwardfunds.com. It should be read carefully before investing.
There are risks involved with investing, including loss of principal. Past performance does not guarantee future results.
Small company stocks are generally riskier than large company stocks due to greater volatility and less liquidity. Foreign securities will involve additional risks including social and political instability, liquidity, greater volatility and less regulation. Real estate funds will be subject to a higher degree of market risk due to concentration in a specific industry or in geographic regions. Investments in real estate and REITS have various risks including vacancies and devaluation based upon adverse economic or regulatory changes. The Sierra Club Mutual Funds are professionally managed under the supervision of Forward Management, their independent Investment Advisor. The Funds may choose not to purchase or retain investments that may be profitable if the companies being considered are in conflict with the established environmental and social guidelines of the Sierra Club.
Sierra Club® is a registered trademark of the Sierra Club.
Forward Funds are distributed by ALPS Distributors, Inc.
©2006 Forward Funds. All rights reserved.
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