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Forward Funds Select Citi to Provide Global Custody for $6 Billion of Assets

New York, NY - February 5, 2013 – Citi has been awarded a mandate from Forward Management, LLC (“Forward") to provide global custody services to support the Forward Funds, a diverse family of traditional and alternative mutual funds with assets of $6 billion.

“As we expanded our range of offerings to include alternative, international and global strategies and Forward’s assets under management grew, we searched for a custodian that could best help us implement these strategies,” said Rob Naka, Managing Director of Operations, Forward. “Citi offered a scalable solution that could meet our evolving settlement and asset servicing needs, and the resources of a premier global bank to support our longer-term strategic objectives.”

With over 60 proprietary branches and agent banks covering 95 markets, Citi is a leading provider of global custody services, combining - local market expertise and a common global platform to deliver consistent, scalable and flexible solutions that support our clients’ most complex custody needs.

“At Citi, we approach investment services from an asset manager’s perspective with tailored solutions that deliver access, insight and expertise from our on-the-ground presence in over 95 markets around the world,” adds Chandresh Iyer, Managing Director of Investor Services, Citi. “As Forward is thinking about the future, we are looking forward to delivering the advantage of partnering with a custodian that offers expertise across the full spectrum of banking and securities services.”

Citi OpenInvestor is the investment services solution for today’s diversified investor that combines specialized expertise, comprehensive capabilities and the power of Citi’s global network to help clients meet performance objectives across asset classes, strategies and geographies. Citi OpenInvestor provides institutional, alternative and wealth managers with middle-office, fund services, custody, and investing and financing solutions that are focused on their specific challenges and customized to their individual needs. For more information, visit openinvestor.transactionservices.citi.com

Citi Transaction Services, a division of Citi’s Institutional Clients Group, offers integrated cash management, trade, and securities and fund services to multinational corporations, financial institutions and public sector organizations around the world. With a network that spans more than 95 countries, Citi’s Transaction Services supports over 65,000 clients. As of the fourth quarter of 2012, it held on average $428 billion in liability balances and over $13.2 trillion in assets under custody.

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About Forward
Forward (Forward Management, LLC), an independent, privately held firm founded in 1998, is the investment advisor for Forward Funds. The company's investment solutions are built around the outcomes we believe investors need to be pursuing - non-correlated return, investment income, global exposure and diversification. With a propensity for unbounded thinking, Forward focuses especially on developing innovative alternative strategies that may help investors build all-weather portfolios. As of December 31, 2012, Forward managed approximately $5.7 billion in a diverse product set offered to individual investors, financial advisors and institutions.

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About Citi
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.

Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://new.citi.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi