Forum’s FORAX Interval Fund Added to Envestnet’s UMA Platform
Forum Real Estate Income Fund, or FORAX – an interval fund managed by Forum Investment Group – has been added to Envestnet’s unified managed account platform.
Forum was among the asset managers included in Envestnet’s expanded interval fund initiative, enabling financial advisers to incorporate alternative investment strategies directly into UMA portfolios alongside ETFs, mutual funds, and separately managed accounts.
Earlier this month, AltsWire reported on a separate Envestnet partnership in which iCapital’s alternatives capabilities were embedded directly into Envestnet’s UMA. With the integration, advisers can manage private equity, private credit, and structured investments alongside traditional stocks and bonds within the UMA structure.
Envestnet conducts due diligence, with a focus on managers’ ability to support trading, liquidity management, and seamless integration within the UMA framework.
FORAX is designed to provide investors with access to institutional-quality real estate credit investments across both public and private markets.
The fund employs a diversified credit strategy spanning commercial mortgage-backed securities, private real estate loans, and other real estate-backed debt instruments, emphasizing senior positions in the capital stack and asset-backed collateral to support income generation and risk management. Structured as an interval fund, FORAX provides periodic liquidity through quarterly redemption windows, allowing access to less liquid, higher-yielding investments within a regulated framework.
“As a current investor in Forum Investment Group’s FORAX, we’ve been attracted to the fund’s combination of low volatility and compelling income profile,” said Lawrence Pizzella, chief executive officer and managing director at ARIA Wealth Management. “Its addition to the Envestnet UMA platform has been a meaningful advancement for our firm, significantly improving implementation efficiency.
Through this integration, advisers can allocate to FORAX within custom UMA models, while leveraging Envestnet’s platform to manage trading, rebalancing, and liquidity windows.
“The ability to allocate without navigating trade windows or managing locked positions has streamlined our model management process and enhanced our ability to deliver consistent portfolio updates for clients,” added Pizzella.
“We are honored to be included in Envestnet’s initial interval fund lineup and to bring the Forum Real Estate Income Fund to advisers through the UMA platform,” said Lee Beck, president of Forum.
Earlier this year, Forum – a Denver-based boutique investment management firm – appointed Grant Turner as managing director and client portfolio manager for Forum Exchange, the firm’s 1031 exchange and Delaware statutory trust distribution platform. The hire is intended to support the firm’s long-term exchange strategy.
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