# EDGAR Filing Document

**Accession Number:** 0000889188
**File Stem:** 0000898432-23-000109
**Filing Date:** 2023-2
**Character Count:** 22290
**Document Hash:** dd660a307e4dbe6f94182deabd775718
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000898432-23-000109.hdr.sgml**: 20230216

**ACCESSION NUMBER**: 0000898432-23-000109

**CONFORMED SUBMISSION TYPE**: N-8F/A

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20230216

**DATE AS OF CHANGE**: 20230216

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Forward Funds
- **CENTRAL INDEX KEY:** 0000889188
- **IRS NUMBER:** 232696899
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** N-8F/A
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-06722
- **FILM NUMBER:** 23638105

**BUSINESS ADDRESS:**
- **STREET 1:** 244 CALIFORNIA STREET
- **STREET 2:** SUITE 200
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94111
- **BUSINESS PHONE:** 800-232-0224

**MAIL ADDRESS:**
- **STREET 1:** 244 CALIFORNIA STREET
- **STREET 2:** SUITE 200
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94111

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** HOMESTATE GROUP
- **DATE OF NAME CHANGE:** 19920929

#### FORM N-8F/A SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549

#### Application for Deregistration of Certain Registered Investment Companies.

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| | | |
|:---|:---|:---|
| I. | **General Identifying Information** | **General Identifying Information** |
| 1. | Reason fund is applying to deregister (check *only one*; for descriptions, *see* Instruction 1 above): | Reason fund is applying to deregister (check *only one*; for descriptions, *see* Instruction 1 above): |
|  | [**X**] | Merger |
|  | [ ] | Liquidation |
|  | [ ] | Abandonment of Registration |
|  |  | (Note: Abandonments of Registration answer *only* questions 1 through 15, 24 and 25 of this form and complete verification at the end of the form.) |
|  | [ ] | Election of status as a Business Development Company |
|  |  | (Note: Business Development Companies answer *only* questions 1 through 10 of this form and complete verification at the end of the form.) |
| 2. | Name of the fund: **Forward Funds** | Name of the fund: **Forward Funds** |
| 3. | Securities and Exchange Commission File No.: **811-06722** | Securities and Exchange Commission File No.: **811-06722** |
| 4. | Is this an initial Form N-8F or an amendment to a previously filed Form N-8F? | Is this an initial Form N-8F or an amendment to a previously filed Form N-8F? |
|  | [ ] Initial Application&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [**X**] Amendment  | [ ] Initial Application&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [**X**] Amendment  |
| 5. | Address of Principal Executive Office (include No. and Street, City, State, Zip Code): | Address of Principal Executive Office (include No. and Street, City, State, Zip Code): |
|  |  | **244 California Street, Suite 200** |
|  |  | **San Francisco, California 94111** |
| 6. | Name, address, and telephone number of individual the Commission staff should contact with any questions regarding this form: | Name, address, and telephone number of individual the Commission staff should contact with any questions regarding this form: |
|  |  | **Cal Gilmartin<br> K&L Gates LLP<br> State Street Financial Center<br> One Lincoln Street<br> Boston, MA 02111-2950<br> (617) 951-9103<br> cal.gilmartin@klgates.com<br>** <br>|
| 7. | Name, address and telephone number of the individual(s) and/or entity(ies) responsible for maintenance and preservation of the fund's records in accordance with Rules 31a-1 and 31a-2 under the Act [17 CFR 270.31a-1, .31a-2]: | Name, address and telephone number of the individual(s) and/or entity(ies) responsible for maintenance and preservation of the fund's records in accordance with Rules 31a-1 and 31a-2 under the Act [17 CFR 270.31a-1, .31a-2]: |

---

------

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| | | |
|:---|:---|:---|
|  | (1)<br>| **Forward Management, LLC d/b/a Salient Management (*records related to its function as investment adviser*)**<br> **244 California St. Suite 200**<br> **San Francisco, CA 94111**<br> (415) 869-6300 |
|  | **(2)** | **Broadmark Asset Management LLC (*records related to its function as investment sub-adviser to Salient Tactical Growth Fund*)**<br> **1808 Wedemeyer St #210**<br> **San Francisco, CA 94129**<br> (415) 925-4970 |
|  | **(3)** | **Citibank, N.A. *(records related to its function as custodian)*<br> 388 Greenwich Street**<br> New York, NY 10013<br> (212) 723-2264 |
|  | (4)<br>| **ALPS Fund Services, Inc. (*records related to its function as fund accountant, transfer agent, and administrator*)<br> P.O. Box 1345<br> Denver, CO 80201<br> (866) 909-8084**<br>|
|  | **(5)** | **Forward Securities, LLC (*records related to its function as principal underwriter*)**<br> **244 California St**<br> **Suite 200**<br> **San Francisco, CA 94111**<br> (415) 869-6300<br>|
|  |  | NOTE: *Once deregistered, a fund is still required to maintain and preserve the records described in rules 31a-1 and 31a-2 for the periods specified in those rules.* |
| 8. | Classification of the fund (check only one): | Classification of the fund (check only one): |
|  |  | [**X**]&nbsp;&nbsp;&nbsp;&nbsp; Management company; |
|  |  | [ ]&nbsp;&nbsp;&nbsp;&nbsp; Unit investment trust; or |
|  |  | [ ]&nbsp;&nbsp;&nbsp;&nbsp; Face-amount certificate company. |
| 9. | Subclassification if the fund is a management company (check only one): | Subclassification if the fund is a management company (check only one): |
|  |  | [**X**] Open-end&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [ ] Closed-end |

---

------

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| | |
|:---|:---|
| 10. | State law under which the fund was organized or formed (e.g., Delaware, Massachusetts): |
|  | **Delaware** |
| 11. | Provide the name and address of each investment adviser of the fund (including sub-advisers) during the last five years, even if the fund's contracts with those advisers have been terminated: |
|  | **Forward Management, LLC d/b/a Salient Management<br> 244 California St. Suite 200<br> San Francisco, CA 94111<br> (415) 869-6300<br>Broadmark Asset Management LLC<br> 1808 Wedemeyer St #210<br> San Francisco, CA 94129<br> (415) 925-4970** |
| 12. | Provide the name and address of each principal underwriter of the fund during the last five years, even if the fund's contracts with those principal underwriters have been terminated: |

---

---

| | |
|:---|:---|
|  | **Forward Securities, LLC<br> 244 California St<br> Suite 200<br> San Francisco, CA 94111<br> (415) 869-6300** |
| 13. | If the fund is a unit investment trust ("UIT") provide: **Not Applicable** |
| (a) | Depositor's name(s) and address(es): |
| (b) | Manager's name(s) and address(es): |
| 14. | Is there a UIT registered under the Act that served as a vehicle for investment in the fund (*e.g.*, an insurance company separate account)? |
|  | [ ] Yes&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [**X**] No |
|  | If Yes, for each UIT state: |
|  | Name: |
|  | File No.:  |
|  | Business Address: |

---

------

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| | |
|:---|:---|
| 15. <br>(a)  | Did the fund obtain approval from the board of directors concerning the decision to engage in a Merger, Liquidation or Abandonment of Registration? |
|  | [**X**] Yes&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [ ] No |
|  | If Yes, state the date on which the board vote took place: **June 27, 2022**  |
|  | If No, explain: |
| (b) | Did the fund obtain approval from the shareholders concerning the decision to engage in a Merger, Liquidation or Abandonment of Registration? |
|  | [**X**] Yes&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [ ] No |

---

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| | |
|:---|:---|
|  | If Yes, state the date on which the shareholder vote took place: **For Salient Global Real Estate Fund and Salient Tactical Growth Fund, the shareholder vote took place on November 4, 2022. For the Salient Select Income Fund, the shareholder vote took place on November 11, 2022.**  |
|  | If No, explain: |
| II. | **Distributions to Shareholders** |
| 16. | Has the fund distributed any assets to its shareholders in connection with the Merger or Liquidation? |
|  | [ ] Yes&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [**X**] No**\*\*** |
| \*\* At the close of business on November 18, 2022, Salient Global Real Estate Fund, Salient Select Income Fund, and Salient Tactical Growth Fund, the sole remaining series of Forward Funds, each transferred all of their assets and liabilities to Westwood Salient Global Real Estate Fund, Westwood Salient Select Income Fund, and Westwood Broadmark Tactical Growth Fund, respectively, each a series of the Ultimus Managers Trust (each an "Acquiring Fund," and together, the "Acquiring Funds"), in exchange for the commensurate number of shares in the respective Acquiring Fund.  | \*\* At the close of business on November 18, 2022, Salient Global Real Estate Fund, Salient Select Income Fund, and Salient Tactical Growth Fund, the sole remaining series of Forward Funds, each transferred all of their assets and liabilities to Westwood Salient Global Real Estate Fund, Westwood Salient Select Income Fund, and Westwood Broadmark Tactical Growth Fund, respectively, each a series of the Ultimus Managers Trust (each an "Acquiring Fund," and together, the "Acquiring Funds"), in exchange for the commensurate number of shares in the respective Acquiring Fund.  |

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| | |
|:---|:---|
| (a) | If Yes, list the date(s) on which the fund made those distributions: |
| (b) | Were the distributions made on the basis of net assets? **Not Applicable**<br>|
|  | [ ] Yes&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [ ]&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; No |
| (c) | Were the distributions made *pro rata* based on share ownership? **Not Applicable**<br>|
|  | [ ] Yes [ ] No |
| (d) | If No to (b) or (c) above, describe the method of distributions to shareholders. For Mergers, provide the exchange ratio(s) used and explain how it was calculated: **Not Applicable**<br>|

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| | | |
|:---|:---|:---|
|  | (e) | *Liquidations only: **Not Applicable***<br>|
|  |  | Were any distributions to shareholders made in kind? |
|  |  | [ ] Yes&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [ ]&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; No |
|  | If Yes, indicate the percentage of fund shares owned by affiliates, or any other affiliation of shareholders: | If Yes, indicate the percentage of fund shares owned by affiliates, or any other affiliation of shareholders: |
| 17. | *Closed-end funds only:* | *Closed-end funds only:* |
|  | Has the fund issued senior securities? | Has the fund issued senior securities? |
|  |  | [ ] Yes&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [ ]&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; No |

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| | |
|:---|:---|
|  | If Yes, describe the method of calculating payments to senior security holders and distributions to other shareholders: |
| 18. | Has the fund distributed ***all*** of its assets to the fund's shareholders? |
|  | [ ] Yes&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [**X**]&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; No **(\*\*Refer to footnote to Question 16 above for a description of the transaction.)** |
|  | If No,  |
|  | (a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; How many shareholders does the fund have as of the date this form is filed? **Not Applicable**<br>|
|  | (b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Describe the relationship of each remaining shareholder to the fund: **Not Applicable**<br>|
| 19. | Are there any shareholders who have not yet received distributions in complete liquidation of their interests? |

---

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| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [ ] Yes&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [**X**]&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; No |
|  | If Yes, describe briefly the plans (if any) for distributing to, or preserving the interests of, those shareholders: |
| III. | **Assets and Liabilities** |
| 20. | Does the fund have any assets as of the date this form is filed? |
|  | &nbsp;&nbsp;&nbsp;&nbsp;(*See question 18 above*) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [ ] Yes&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [**X**]&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; No |
|  | If Yes,  |
|  | (a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Describe the type and amount of each asset retained by the fund as of the date this form is filed: |

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| | |
|:---|:---|
|  | (b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Why has the fund retained the remaining assets? |
|  | (c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Will the remaining assets be invested in securities? |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [ ] Yes&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [ ]&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; No |
| 21. | Does the fund have any outstanding debts (other than face-amount certificates if the fund is a face-amount certificate company) or any other liabilities? |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [ ] Yes&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [**X**]&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; No |
|  | If Yes,  |

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| | | |
|:---|:---|:---|
|  |  | (a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Describe the type and amount of each debt or other liability: |
|  |  | (b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; How does the fund intend to pay these outstanding debts or other liabilities? |
| IV. | **Information About Event(s) Leading to Request for Deregistration** | **Information About Event(s) Leading to Request for Deregistration** |

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| | | |
|:---|:---|:---|
| 22. <br>(a)  | List the expenses incurred in connection with the Merger or Liquidation: | List the expenses incurred in connection with the Merger or Liquidation: |
| (i) | Legal expenses: **$219,681** | Legal expenses: **$219,681** |
| (ii) | Accounting expenses: **$40,880** | Accounting expenses: **$40,880** |
| (iii) | Other expenses (list and identify separately): | Other expenses (list and identify separately): |
|  | (1) | **Proxy solicitation expenses: $81,678** |
|  | (2) | **Printing, mailing and other administrative expenses: $54,737** |
| (iv) | Total expenses (sum of lines (i)-(iii) above): **$396,976** | Total expenses (sum of lines (i)-(iii) above): **$396,976** |
| (b) | How were those expenses allocated? **See response to sub item (c) below.** | How were those expenses allocated? **See response to sub item (c) below.** |

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(c) Who paid those expenses? **Westwood Holdings Group, Inc. ("Westwood"), the parent company of each Acquiring Fund's investment adviser, and Salient Partners, L.P. ("Salient"), the parent company of the investment adviser to each series of Forward Funds, agreed to pay all of the expenses related to the merger. No series of the Forward Funds paid any merger expenses. Westwood paid the first $250,000 of all merger expenses, and Westwood and Salient each paid 50% of the remaining merger expenses.** 

(d) How did the fund pay for unamortized expenses (if any)? **Not Applicable.** <br>

23. Has the fund previously filed an application for an order of the Commission regarding the Merger or Liquidation?

[ ] Yes&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [**X**]&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; No

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| | |
|:---|:---|
|  | If Yes, cite the release numbers of the Commission's notice and order or, if no notice or order has been issued, the file number and date the application was filed: |
| V. | **Conclusion of Fund Business** |
| 24. | Is the fund a party to any litigation or administrative proceeding? |
|  | [ ] Yes&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [**X**]&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; No |
|  | If Yes, describe the nature of any litigation or proceeding and the position taken by the fund in that litigation: |

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| | |
|:---|:---|
| 25. | Is the fund now engaged, or intending to engage, in any business activities other than those necessary for winding up its affairs? |
|  | [ ] Yes&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [**X**]&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; No |
|  | If Yes, describe the nature and extent of those activities: |
| VI. | **Mergers Only** |
| 26. <br> (a)  | State the name of the fund surviving the Merger: **Each of the below series of Forward Funds was reorganized into the corresponding series of Ultimus Managers Trust:** |

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| | |
|:---|:---|
| **Series of Forward Funds** | **Series of Ultimus Managers Trust** |
| Salient Global Real Estate Fund | Westwood Salient Global Real Estate Fund |
| Salient Select Income Fund | Westwood Salient Select Income Fund |
| Salient Tactical Growth Fund | Westwood Broadmark Tactical Growth Fund |

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(b) State the Investment Company Act file number of the fund surviving the Merger: **811-22680**

(c) If the merger or reorganization agreement has been filed with the Commission, state the file number(s), form type used and date the agreement was filed: **Pre-Effective Amendment No. 1 to the Registration Statement on Form N-14 (October 4, 2022; 333-267251).**

(d) If the merger or reorganization agreement has ***not*** been filed with the Commission, provide a copy of the agreement as an exhibit to this form. **Not Applicable.**

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#### VERIFICATION
The undersigned states that (i) she has executed this Form N-8F/A application for an order under Section 8(f) of the Investment Company Act of 1940 on behalf of Forward Funds, (ii) she is an officer of Forward Funds and (iii) all actions by shareholders, trustees and any other body necessary to authorize the undersigned to execute and file this Form N-8F/A application have been taken. The undersigned also states that the facts set forth in this Form N-8F/A application are true to the best of her knowledge, information and belief.

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| |
|:---|
| /s/ Kristen Bayazitoglu |
| Name: Kristen Bayazitoglu |
| Title: Secretary  |
| Date: February 16, 2023 |

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<br>