Forward Funds Select Citi to Provide Global Custody for $6 Billion of Assets

  Forward Funds Select Citi to Provide Global Custody for $6 Billion of Assets

Business Wire

NEW YORK -- February 5, 2013

Citi has been awarded a mandate from Forward Management, LLC (“Forward”) to
provide global custody services to support the Forward Funds, a diverse family
of traditional and alternative mutual funds with assets of $6 billion.

“As we expanded our range of offerings to include alternative, international
and global strategies and Forward’s assets under management grew, we searched
for a custodian that could best help us implement these strategies,” said Rob
Naka, Managing Director of Operations, Forward. “Citi offered a scalable
solution that could meet our evolving settlement and asset servicing needs,
and the resources of a premier global bank to support our longer-term
strategic objectives.”

With over 60 proprietary branches and agent banks covering 95 markets, Citi is
a leading provider of global custody services, combining - local market
expertise and a common global platform to deliver consistent, scalable and
flexible solutions that support our clients’ most complex custody needs.

"At Citi, we approach investment services from an asset manager’s perspective
with tailored solutions that deliver access, insight and expertise from our
on-the-ground presence in over 95 markets around the world,” adds Chandresh
Iyer, Managing Director, Investor Services, Citi. “As Forward is thinking
about the future, we are looking forward to delivering the advantage of
partnering with a custodian that offers expertise across the full spectrum of
banking and securities services.”

Citi OpenInvestor is the investment services solution for today’s diversified
investor that combines specialized expertise, comprehensive capabilities and
the power of Citi’s global network to help clients meet performance objectives
across asset classes, strategies and geographies. Citi OpenInvestor provides
institutional, alternative and wealth managers with middle-office, fund
services, custody, and investing and financing solutions that are focused on
their specific challenges and customized to their individual needs. For more
information, visit

Citi Transaction Services, a division of Citi’s Institutional Clients Group,
offers integrated cash management, trade, and securities and fund services to
multinational corporations, financial institutions and public sector
organizations around the world. With a network that spans more than 95
countries, Citi’s Transaction Services supports over 65,000 clients. As of the
fourth quarter of 2012, it held on average $428 billion in liability balances
and over $13.2 trillion in assets under custody.

About Forward

Forward (Forward Management, LLC), an independent, privately held firm founded
in 1998, is the investment advisor for Forward Funds. The company’s investment
solutions are built around the outcomes we believe investors need to be
pursuing – non-correlated return, investment income, global exposure and
diversification. With a propensity for unbounded thinking, Forward focuses
especially on developing innovative alternative strategies that may help
investors build all-weather portfolios. As of December 31, 2012, Forward
managed approximately $5.7 billion in a diverse product set offered to
individual investors, financial advisors and institutions.

About Citi:

Citi, the leading global bank, has approximately 200 million customer accounts
and does business in more than 160 countries and jurisdictions. Citi provides
consumers, corporations, governments and institutions with a broad range of
financial products and services, including consumer banking and credit,
corporate and investment banking, securities brokerage, transaction services,
and wealth management.

Additional information may be found at | Twitter: @Citi |
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Nina Das, 212-816-9267
Victoria Odinotska, 703-534-3735
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