Forward Management has hired Piedmont Investment Advisors as the new subadvisor for its Forward Large Cap Equity Fund, according to a news release on Thursday.

San Francisco-based Forward made the change after the nine-month old fund's previous subadvisor, Affinity Investment Advisors, was acquired by Morgan Stanley Investment Management. (see "Morgan Stanley Takes an Affinity to Someone Else's Investment Team," May 3, 2007)

Isaac H. Green, president and chief investment officer of Durham, North Carolina-based Piedmont, now serves as the portfolio manager of the fund, which was launched in October last year.

“Isaac and his team bring depth of experience, and their investment philosophy is an excellent fit for the fund,” said J. Alan Reid, Jr., president of Forward Management, in the release. “We are excited to take their expertise to an even broader market.”  

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