Forefront Income Trust to invest in loans, debt via stock proceeds

By Toni Weeks

San Luis Obispo, Calif., April 8 - Forefront Income Trust plans to conduct a best-efforts public offering of its common shares, according to an N-2 filing with the Securities and Exchange Commission.

The newly organized, closed-end, non-diversified management investment company seeks current income by investing substantially all of its assets in a portfolio of loans and debt instruments and, to a lesser extent, dividend-yielding preferred securities.

Under normal market conditions, it will make investments in fixed-income securities, including asset-backed securities, senior secured or unsecured loans or debt, second-lien or other subordinated or unsecured loans or debt and dividend-yielding preferred securities. The trust may in invest in dollar-denominated and non-dollar denominated securities of issuers located anywhere in the world, including in emerging market countries.

Bradley Reifler and David Wasitowski are the portfolio managers.

The sales load is 3%. Total annual expenses have not yet been determined.

New York-based Forefront Capital Management, LLC will act as the fund's investment adviser.

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