Forward Management, a San Francisco-based investment advisor to the Forward Funds and the Accessor Funds, has taken a minority ownership position in Broadmark Asset Management (Broadmark). It plans to launch a mutual fund, Forward Tactical Growth Fund, which will be sub-advised by the investment team at Broadmark. Forward and Broadmark recently partnered to offer separately managed accounts based on the Broadmark Long Short Strategy LP.
It has been reported that the equity investment in Broadmark is the fourth investment or acquisition Forward has completed in the last 11 months. In early June, Forward completed its acquisition of Kensington Funds adding almost $900 million to Forward’s assets under management.
Alan Reid, CEO of Forward Management, said: Broadmark’s strength in up and down markets will give our clients unique access to a management style that seeks to maximize market opportunities and minimize market risk.
Chris Guptill, CEO and CIO of Broadmark Asset Management, said: We are excited to partner with Forward to expand access to our investment strategies that have been traditionally limited to hedge funds and now will be made available via mutual funds and separately managed accounts.
