Something's up at Forward Funds
. It appears that the fund family is in the process of launching a new product. This new product is entitled ReFlow
, and it appears to be designed to avoid pricing pressure when buying and selling stocks.
Forward's website for the offering states, "ReFlow is designed to provide mutual fund managers with short-term liquidity at the lowest market-driven price using a daily Internet auction." The website also states that the product was created to assist fund managers in meeting net redemptions.
Follow this link
to visit the firm's website for ReFlow.
Officials from Forward would not comment on this story as ReFlow is still awaiting approval from the SEC.
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