Pictet Loses Forward Funds Mandate

Forward Funds has appointed SW Asset Management as the new sub-advisor for the $25.7 million Forward International Fixed Income Fund, MutualFundWire reports. The California-based employee-owned firm started by former Drake and PIMCO employees, will be replacing Pictet Asset Management.

Pictet will continue to sub-advise some of Forward’s other funds. The fund, which will be renamed Forward EM Corporate Debt Fund, will invest at least 80% of its net assets in fixed income securities of companies in emerging market nations.

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