Salient Select Income Fund
Data updated: 2022-11-17
C000076419 — Salient Select Income Fund. Blend / Core Equity · $225.57M AUM · 2.10% expense ratio. Holdings, fees, performance and SEC filings.
C000076419 Fund Overview
Salient Select Income Fund is a US mutual fund managed by Forward Funds, categorised as Blend / Core Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Forward Funds
- Category: Blend / Core Equity
- Assets under management: $225.57M
- 1-year return: -23.7%
- SEC CIK: 0000889188
- SEC series ID: S000025527
- Share class ID: C000076419
C000076419 Investment Objective and Strategy
Salient Select Income Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Forward Funds.
Investment objective
The Fund seeks high current income and potential for modest long-term growth of capital.
Principal investment strategy
Under normal conditions, the Fund invests at least 80% of its net assets plus borrowings for investment purposes, if any, in income-producing securities. The Fund invests primarily in securities of companies in the real estate industry, such as real estate investment trusts (REITs), master limited partnerships and other real estate firms. Investments in these issuers are expected to include a significant portion of assets in preferred stock, as well as convertible preferred stock, debt obligations and other senior securities. The Fund may invest a significant portion of its assets in preferred stock. The Fund may also invest in common stock, rights and warrants to purchase securities, and limited partnership interests to the extent Forward Management, LLC d/b/a Salient (Salient Management or the Advisor) deems appropriate.
To select investments for the Fund, the Advisor uses a value-oriented philosophy focused on an issuers cash flow, asset quality and management capability. The Fund may invest in securities of companies having any capitalization and of any credit quality, and may invest in debt securities of any maturity (including bonds commonly referred to as junk bonds). The Fund has the ability to leverage its portfolio by borrowing money in an amount up to one-third of its assets to purchase securities. The Fund may purchase restricted securities or securities which are deemed to be not readily marketable. The Fund may engage in transactions designed to hedge against changes in the price of the Funds portfolio securities, such as purchasing put options or selling securities short. The Fund may write (sell) call options and purchase put options on individual stocks or broad-based stock indices, including exchange-traded funds (ETFs) that replicate such indices.
The Fund may also enter into put option spreads, which consist of paired purchased and written options with different strike prices on the same stock or index. The Fund generally intends to use option strategies to seek to generate premium income, acquire a security at a specified price, or reduce the Funds exposure to market risk and volatility.
C000076419 Performance
Total returns for C000076419 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | -23.7% |
| 3 years (annualised) | -13.4% |
C000076419 Risk Information
Risk metrics for C000076419, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 13.7%
C000076419 Costs and Fees
C000076419 costs about $210 per $10,000 invested per year in fund expenses.
- Net expense ratio: 2.10%
- Gross expense ratio: 2.37%
- Portfolio turnover: 82%
- Brokerage commissions: 16.83 bps of average net assets (SEC N-CEN)
C000076419 Cashflows
Over the 12 months to 2022-09, Salient Select Income Fund had net outflows of $40.31M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2022-09 | $707.06K |
| 2022-08 | −$8.10M |
| 2022-07 | $1.01M |
| 2022-06 | −$592.85K |
| 2022-05 | −$1.58M |
| 2022-04 | −$409.76K |
C000076419 Debt Constituents
No individual debt constituents are reported in Salient Select Income Fund's latest SEC N-PORT filing.
C000076419 Prospectus and SEC Filings
Official Salient Select Income Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2022-04-29
- Prospectus (485BPOS) — filed 2021-04-30
- Prospectus (485BPOS) — filed 2020-05-20
- Portfolio holdings (N-PORT) — filed 2022-11-17
- Portfolio holdings (N-PORT) — filed 2022-08-25
- Portfolio holdings (N-PORT) — filed 2022-05-25
- Annual census (N-CEN) — filed 2022-03-11
- Annual census (N-CEN) — filed 2021-03-05
Related Funds
Other Blend / Core Equity funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.