Exhibit (e)(3) FORWARD FUNDS INVESTMENT SUB-ADVISORY AGREEMENT This INVESTMENT SUB-ADVISORY AGREEMENT (“Agreement”), effective as of November 13, 2013 (the “Effective Date”), is by and among Pacific Investment Management Company LLC (the “Sub-Advisor”...Investment Sub-Advisory Agreement • April 28th, 2014 • Forward Funds • California
WHEREAS, the Advisor has been retained by the Trust to provide investment advisory services to the Fund with regard to the Fund’s investments, as further described in the Trust’s registration statement on Form N-1A (the “Registration Statement”) and pursuant to an Amended and Restated Investment Management Agreement dated as of July 1, 2005, as amended (“Investment Management Agreement”); and
THIRD AMENDMENT TO SUB-ADVISORY AGREEMENTSub-Advisory Agreement • April 28th, 2014 • Forward Funds • California
This third amendment (the “Third Amendment”) to the Sub-Advisory Agreement (the “Agreement”) dated as of July 1, 2005, as amended and restated as of December 1, 2007, as further amended as of January 2, 2009 and as of November 1, 2009, between Pictet Asset Management Ltd (the “Sub-Advisor”), Forward Funds (the “Trust”), on behalf of the Forward International Small Companies Fund, a series of the Trust (the “Fund”), and Forward Management, LLC (the “Advisor”), is entered into as of October 1, 2013 with reference to the following facts:
