Market Overview

Forward Boosts Healthcare Research With New Hires

San Francisco, Feb. 6, 2013 (GLOBE NEWSWIRE) -- Forward (Forward Management, LLC) has announced the addition of two investment analysts to their dedicated global healthcare investment team led by portfolio manager Scott Kay. Tim McCandless will serve as senior life sciences analyst and Greg Butz will serve as therapeutics analyst. In January 2013, Forward launched a long/short equity strategy designed to capitalize on disruptions in the rapidly changing healthcare sector.

"We are pleased to welcome Tim and Greg to our team," said Scott Kay.  "Having members with deep and focused industry experience is crucial to our work of evaluating uncovered opportunities across the healthcare universe," he remarked.

Prior to joining Forward, Tim McCandless was the senior equity analyst at Bel Air Investment Advisors responsible for all healthcare investments in addition to two other sectors from 2007 through 2012. Previously, he was a principal at Chapman Capital. From 2003 to 2006, McCandless was the senior analyst and then partner at Symmetry Capital, a long/short healthcare hedge fund. Prior to Symmetry Capital, he spent nearly four years in equity research at Banc of America Securities. McCandless was the sole research associate on the major pharmaceuticals team ranked as "Best Up-and-Comer" in Institutional Investor's 2003 All-American Team. He received his Bachelor of Arts in molecular and cell biology with an emphasis in genetics from the University of California at Berkeley.  

In his previous position, Greg Butz was a director in the Healthcare Investment Banking Group at Credit Suisse, based in San Francisco. Before Credit Suisse, he was a vice president in the Healthcare Investment Banking Group at Morgan Stanley, based in Menlo Park. Earlier in his career, he was a sell side equity research associate covering biotechnology companies at Banc of America Securities and Robertson Stephens. He received his undergraduate degree from Williams College and his MBA from the Tuck School of Business at Dartmouth.

About Forward
The world has changed, leading investors to seek new strategies that better fit an evolving global climate. Forward'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, we focus especially on developing innovative alternative strategies that may help investors build all-weather portfolios. An independent, privately held firm founded in 1998, Forward (Forward Management, LLC) is the advisor to the Forward Funds. As of December 31, 2012, we manage more than $5.7 billion in a diverse product set offered to individual investors, financial advisors and institutions.

Investing involves risk, including possible loss of principal. The value of any financial instruments or markets mentioned herein can fall as well as rise. Past performance does not guarantee future results. 

CONTACT: Contact: Victoria Odinotska Kanter & Company (703) 534-3735

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