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Forward Funds

Forward International Equity Fund

Institutional Class

Investment Strategy
Updated as of:
September 30, 2008
 
 
performance
 
  Investment Process
 
  Bottom-up stock selection validated by research and strategic process
 
use a "bottom-up" approach to try to identify international large-cap companies with strong future prospects
long-established strategic process, based on Pictet's proprietary database, drawing on 1,500 economic and market data series
well-resourced teams of sector and regional experts leverage Pictet's depth and expertise in International Emerging Markets and Small Cap investing
quantitative screens are used to identify international large-cap companies with low valuations against peers and the consensus
  Select a portfolio of 80 to 90 EAFE and emerging market stocks
 
individual company strengths and weaknesses are identified and further assessment is undertaken to assure that companies have solid business strategies and opportunities
in-depth company analysis by analysts and fund managers, including direct contact with management
focus on sustainable economic liquidity as the most favorable factor in pricing financial assets
  Class: Institutional
Change to: Investor
   
Overview
Category: International Growth
Ticker Symbol: FFIEX
CUSIP: 349913681
Benchmark: MSCI All Country World Index ex-USA
Inception: May 1, 2007
Net Assets: $21.1 Million
Load Fee: No Load
Gross Expense Ratio: 1.29%
Net Expense Ratio: 0.99%1
Minimum Investment
Initial: $100,000
Statistics
Price/Book:* 2.78
Forward P/E:* 9.83
EPS Growth Rate:* 17.53%
Long-Term Debt-to-Equity:* 32.47%
Weighted Avg. Market Capitalization:* $33.8 Billion
Avg. Capitalization:* $27.4 Billion
Number of Holdings: 104
Annualized Turnover: 77.38%

1The Fund’s investment advisor has contractually agreed to waive a portion of its fees and reimburse other expenses until April 30, 2009, in amounts necessary to limit the Fund’s operating expenses (exclusive of brokerage costs, interest, taxes, dividends and extraordinary expenses) for Institutional Class shares to an annual rate (as a percentage of the Fund’s average daily net assets) of 0.99%.

*Data refers to the Fund’s holdings and not to the Fund itself.

Price/Book Ratio and Price/Earnings represent equity securities within the Fund's portfolio, and are not intended to demonstrate Fund growth income earned by the Fund, or distributions made by the Fund.

EPS Growth Rate represents current year consensus estimates weighted by distribution of the portfolio.

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