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.
Foreign securities, especially emerging markets, will involve additional risks including exchange rate fluctuations, social and political instability, liquidity, greater volatility and less regulation.
Forward Global Infrastructure Fund, Forward Select Income Fund, Forward International Real Estate, Fund Forward Strategic Realty Fund and the Forward Real Estate Fund are non-diversified, meaning they may concentrate their assets in fewer individual holdings than diversified funds. Therefore, these Funds are more exposed to individual stock volatility than diversified funds.
Because the Forward Global Infrastructure Fund concentrates its investments in infrastructure-related entities, the Fund has a greater exposure to the potential adverse economic, regulatory, political and other changes affecting such entities.
Forward Select Income and Forward Strategic Realty Funds’ use of short selling involves additional risks and transaction costs, and creates leverage, which can increase the volatility of these Funds.
Certain of the Funds will invest in lower-rated debt securities and may utilize derivatives for hedging purposes.
There are risks involved with investing, including loss of principal. Past performance does not guarantee future results.
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