The agreement includes the investment portfolios and investment team responsible for managing the Global Dividend, International Dividend, U.S. Dividend, and SmallMid Core Portfolios, according to the announcement. The deal will allow Forward to expand its separately managed accounts (SMA) and Institutional business by doubling the number of in-house investment professionals.
As part of the agreement, the current San Francisco-based Berkeley team – which includes investment, marketing, and client service professionals – will join Forward Management. The team specializes in dividend-based investing through its global, international and U.S. dividend strategies, the announcement said.
Berkeley will now focus entirely on its primary business, its institutional division, Delta Asset Management, based in Los Angeles.
“We are excited about the opportunities that this transaction will provide our clients and team,” said David Ruff, Berkeley’s Chief Investment Officer, in the announcement. “Joining Forward will give us the resources and infrastructure to effectively enhance our business.”