SCMF Mutual Fund Policies

Mutual Fund Policies

Shareholder Update: Policies and Practices

We have a straightforward answer to any concerns which you might have: we simply do not tolerate investing practices which involve market timing or late trading - or anything else that will harm our investors. We never have and we never will.

Specifically, since Forward Funds’ inception in 1998:

	Our Mutual Funds Board has always had an independent Chairperson and a majority of independent Directors.

	We have been vigilant in preventing market timing. In February of 2002 we imposed the maximum redemption fee permitted by law on those shareholders who hold our funds for less than 60 days, which is now 180 days, as of July 1, 2007.

	We work closely with our transfer agent to ensure that untimely orders will not be accepted.

Because we realize the importance of maintaining your confidence in us, we have made it easier for our shareholders to learn about our Fund policies and the people who enforce them.

	Our Prospectus and Statement of Additional Information are always available on our website.

	We publish a weekly report of our daily fund flows so that you can review the investments and redemptions made each day in each of our Funds.

	We provide a biography of each member of our Board of Trustees, our Code of Ethics and a quarterly list of all transactions in our Funds by the Officers of the Investment Advisor.

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The Sierra Club Stock Fund is professionally managed under the supervision of Forward Management, the independent Investment Advisor. The fund may choose not to purchase or retain investments that may be profitable if the companies being considered are in conflict with the established environmental and social guidelines of the Sierra Club.

Sierra Club Stock Fund is distributed by ALPS Distributors, Inc.
We respect your privacy.
Sierra Club® is a registered trademark of the Sierra Club.