In July, The MFWire.comreported on Forward Management's search for a wholesaler to cover the Northwest. Today, officials at the San Francisco-based mutual fund firm [see profile] revealed the new occupant of the post. Forward brought on board Victor Melinauskas as a regional sales director for the Pacific Northwest territory.
Melinauskas' predecessor, Kris Jamison, moved on to a Forward affiliate during the second quarter.
Before joining Foward, Melinauskas covered the Northern California territory for American Century's [see profile] wealth management channel and was previously a principal and business development officer at Barclays Global Investors. His resume also includes stints at Charles Schwab,
WestCap Investors and Mullin Consulting.
A representative for American Century could not immediately be reached for comment on how Melinauskas' duties are being handled.
Melinauskas joined Forward at the end of August and reports to Forward president
Forward currently has seven external and seven internal wholesalers. "We've got
full coverage," Cusack told The MFWire.com, adding that the firm is not
looking to add to the wholesaling team at the moment.
In addition to running the intermediary sales team (Forward has a separate
team calling on consultants, the five-member group is led by Clay Smudsky), Cusack also oversees the national accounts and marketing teams.
Meanwhile, Forward is looking to broaden its menu in the alternative realm.
"We are looking to expand our products in the alternative space, particularly
around strategies that have the ability to be long and short," Cusack said.
He also discussed the vibe at the firm. "At Forward, we have a motto: 'It's fun again,'" he said. "It's easy to get meetings, get into branches. Before when it was a difficult environment, the asset management industry was constantly on the defensive."
Company Press Release
FORWARD MANAGEMENT ADDS TO SALES FORCE, MEETING GROWING DEMAND FOR ALTERNATIVES
San Francisco, October 18, 2010 -- Forward Management, LLC (Forward)
has announced the hire of Victor Melinauskas as a Regional Sales Director for the Pacific Northwest Territory. He will focus on serving
financial advisors, as well as executing Forward's business strategy, in the Northwest region. The appointment comes as Forward continues to
expand its line-up of investment products, particularly in the alternative investment area. It has helped to double the firm's assets under management, bringing the amount to $6.0 billion as of September 30, 2010.
"Victor's depth of experience working with intermediaries made him an ideal candidate to add to our growing sales team," said Jeff Cusack,
President of Forward Management. "We continue to hear calls from the advisor community for new solutions in managing their clients'
portfolios. As a result, Forward now offers a growing and diverse selection of alternative strategies. Victor's track record in
successfully conveying innovative strategies to this important audience speaks for itself," he added.
Forward's most recent strategy, the Forward Tactical Growth Fund was launched in September 2009, and since then it has gained more than
$800 million in total assets. The Tactical Growth Fund provides investors with an access to a long/short tactical strategy that strives to participate in the upside of the market while potentially limiting the downside risk. Among Forward's other products experiencing strong investor demand are the $232 million Forward
Long/Short Credit Analysis Fund and the line-up of Forward's real estate funds, with total assets of about $1.4 billion. These funds' features include the ability to employ hedge-like strategies, which
strongly resonate with investors in the current economic environment.
Before joining Forward, Melinauskas was a Vice President and Wealth Management Consultant for the US intermediary business at American Century Investments where he managed the Northern California territory for their wealth management channel. Previously, he served as a Principal and Business Development Officer at Barclays Global Investors where he helped educate advisors on the strategic and tactical use of ETFs. He was previously a Senior Manager at Charles Schwab & Co. in San Francisco where he focused on strategic planning and corporate development. Melinauskas also held analyst positions at WestCap Investors, Mullin Consulting and Retirement Planning Group,
LPL. He holds an MBA from The Anderson School of Business at UCLA and a BA in Business Economics from the University of California, Santa
The Forward Funds family offers investors a wide selection of asset classes for building diverse portfolios seamlessly. Forward's complete
fund line-up also includes asset allocation, alternative, international equity, real estate, emerging and frontier markets, domestic equity and fixed income strategies and a money market fund.
The funds are managed by the company's internal asset management team and through sub-advisor agreements.
About Forward Management, LLC
Forward Management, LLC, based in San Francisco, is the investment advisor to the Forward Funds, a family of 32 mutual funds. The firm also markets a range of separately managed account strategies. Forward offers institutional money managers, financial advisors and individual investors access to industry leading investment managers, investment
products and services. The firm specializes in identifying managers who have long track records of managing assets in specific investment
disciplines and asset classes. More information on Forward Management and the Forward Funds can be found at www.forwardmgmt.com.
You should consider the investment objectives, risks, charges and expenses of the Forward Funds carefully before investing. A prospectus
with this and other information may be obtained by calling (800) 999-6809 or by downloading one from www.forwardfunds.com. It should be
read carefully before investing.
The underlying investments of the Forward Tactical Growth Fund (such as Exchange Traded Funds (ETFs), futures and options on securities, securities indexes and shares of ETFs) involve heightened risks related to liquidity, increased volatility and unfavorable fluctuations in currency values. The underlying international and real
estate investments will also be subject to economic or political instability in the U.S. and other countries, credit risk and interest
rate fluctuations. Investors will indirectly bear the expenses of the Fund's underlying investments. The Fund's use of short selling and derivatives involves additional risks and transaction costs, and creates leverage, which can increase the volatility of the Fund.
Forward Long/Short Credit Analysis Fund will invest in lower-rated debt securities and may utilize derivatives for hedging purposes. The
Fund's use of short selling and derivatives involves additional risks and transaction costs, and creates leverage, which can increase the
volatility of the Fund. The Fund may invest in a larger percentage of its assets in the securities of a smaller number of issuers, since it
is a "non-diversified" mutual fund. High-yield bonds involve a greater risk of default and price volatility than U.S. Government and other
high-quality bonds. High-yield/high-risk bonds will experience sudden and sharp price swings, which will affect net asset value. The Fund's
prospectus allows for investment in non-investment grade securities.
Forward International Real Estate Fund may invest in a larger percentage of its assets in the securities of a smaller number of issuers, since it is a "non-diversified" mutual fund. Foreign
securities, especially emerging markets, will involve additional risks including exchange rate fluctuations, social and political instability, liquidity, greater volatility and less regulation. Real Estate Investment Trust (REIT) funds will be subject to a higher degree of market risk because of concentration in a specific industry,
sector or geographic sector. Risks also include declines in the value of real estate, general and economic conditions.
Real Estate Investment Trust (REIT) funds will be subject to a higher degree of market risk because of concentration in a specific industry, sector or geographic sector. Risks also include declines in the value of real estate, general and economic conditions.
The Forward Select Income Fund and Forward Strategic Realty Fund will invest in lower-rated debt securities and may utilize derivatives for
hedging purposes. The Fund's use of short selling and derivatives involves additional risks and transaction costs, and creates leverage,
which can increase the volatility of the Fund. The Fund may invest in a larger percentage of its assets in the securities of a smaller
number of issuers, since it is a "non-diversified" mutual fund. Real Estate Investment Trust (REIT) funds will be subject to a higher degree of market risk because of concentration in a specific industry, sector or geographic sector. Risks also include declines in the value of real estate, general and economic conditions.
There are risks involved with investing, including loss of principal. Past performance does not guarantee future results, share prices will
fluctuate, and you may have a gain or loss when you redeem shares.
Forward Funds are distributed by ALPS Distributors, Inc. Separately
Managed Accounts and related investment advisory services are provided by Forward Management, a federally regulated Investment Advisor. ALPS
Distributors, Inc., is not affiliated with Forward Management or Kanter and Company.
Jeff Cusack and Victor Melinauskas are registered representatives of ALPS Distributors, Inc.