0001435109-17-000261.txt : 20170428 0001435109-17-000261.hdr.sgml : 20170428 20170428112803 ACCESSION NUMBER: 0001435109-17-000261 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20170428 DATE AS OF CHANGE: 20170428 EFFECTIVENESS DATE: 20170428 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FORUM FUNDS CENTRAL INDEX KEY: 0000315774 IRS NUMBER: 010516963 STATE OF INCORPORATION: DE FISCAL YEAR END: 0531 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-67052 FILM NUMBER: 17792732 BUSINESS ADDRESS: STREET 1: THREE CANAL PLAZA CITY: PORTLAND STATE: ME ZIP: 04101 BUSINESS PHONE: 2073472000 MAIL ADDRESS: STREET 1: FORUM FUNDS STREET 2: THREE CANAL PLAZA CITY: PORTLAND STATE: ME ZIP: 04101 FORMER COMPANY: FORMER CONFORMED NAME: FORUM FUNDS INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: FAHNESTOCK DAILY INCOME FUND INC DATE OF NAME CHANGE: 19870617 FORMER COMPANY: FORMER CONFORMED NAME: DAILY INCOME EXTENSION FUND INC DATE OF NAME CHANGE: 19810607 0000315774 S000023115 Absolute Credit Opportunities Fund C000067392 Institutional Shares AOFOX 497 1 absolutecredit497e.htm

ABSOLUTE CREDIT OPPORTUNITIES FUND (the "Fund")

Supplement dated April 28, 2017 to the Prospectus dated August 1, 2016

On March 24, 2017, the Board of Trustees ("Board") of Forum Funds (the "Trust") approved a Plan of Liquidation and Dissolution (the "Plan") pursuant to which the assets of the Fund will be liquidated and the proceeds remaining after payment of or provision for liabilities and obligations of the Fund will be distributed to shareholders. The Fund's investment adviser (the "Adviser") has recommended that the Board approve the Plan based on market conditions and economic factors adversely affecting the Fund and the Board concluded that it is in the best interest of the Fund's shareholders to liquidate the Fund pursuant to the Plan.

In anticipation of the liquidation, the Fund will stop accepting purchases into the Fund on April 28, 2017. Thereafter, the Fund will begin its process of winding up and liquidating its portfolio assets as soon as reasonably practicable. As a result, the Fund will not be pursuing its investment objective after April 28, 2017. Reinvestment of dividends on existing shares in accounts which have selected that option will continue until the liquidation.

The Fund anticipates that it will complete the liquidation on or around the close of business on or about May 26, 2017 (the "Liquidation Date"). On the Liquidation Date, the Fund will make liquidating distributions to each remaining shareholder, equal to the shareholder's proportionate interest in the net assets of the Fund, in complete redemption and cancellation of the Fund's shares held by the shareholder, and thereafter the Fund will be terminated and dissolved.

If you own Fund shares in a tax deferred account, such as an individual retirement account, 401(k) or 403(b) account, you should consult your tax adviser to discuss the Fund's liquidation and determine its tax consequences.


* * *

For more information, please contact a Fund customer service representative toll free at
(888) 99-ABSOLUTE or (888) 992-2765.

PLEASE RETAIN FOR FUTURE REFERENCE.
ABSOLUTE CREDIT OPPORTUNITIES FUND (the "Fund")

Supplement dated April 28, 2017 to the Statement of Additional Information ("SAI") dated August 1, 2016, as supplemented

On March 24, 2017, the Board of Trustees ("Board") of Forum Funds (the "Trust") approved a Plan of Liquidation and Dissolution (the "Plan") pursuant to which the assets of the Fund will be liquidated and the proceeds remaining after payment of or provision for liabilities and obligations of the Fund will be distributed to shareholders. The Fund's investment adviser (the "Adviser") has recommended that the Board approve the Plan based on market conditions and economic factors adversely affecting the Fund and the Board concluded that it is in the best interest of the Fund's shareholders to liquidate the Fund pursuant to the Plan.

In anticipation of the liquidation, the Fund will stop accepting purchases into the Fund on April 28, 2017. Thereafter, the Fund will begin its process of winding up and liquidating its portfolio assets as soon as reasonably practicable. As a result, the Fund will not be pursuing its investment objective after April 28, 2017. Reinvestment of dividends on existing shares in accounts which have selected that option will continue until the liquidation.

The Fund anticipates that it will complete the liquidation on or around the close of business on or about May 26, 2017 (the "Liquidation Date"). On the Liquidation Date, the Fund will make liquidating distributions to each remaining shareholder, equal to the shareholder's proportionate interest in the net assets of the Fund, in complete redemption and cancellation of the Fund's shares held by the shareholder, and thereafter the Fund will be terminated and dissolved.

If you own Fund shares in a tax deferred account, such as an individual retirement account, 401(k) or 403(b) account, you should consult your tax adviser to discuss the Fund's liquidation and determine its tax consequences.


* * *

For more information, please contact a Fund customer service representative toll free at
(888) 99-ABSOLUTE or (888) 992-2765.

PLEASE RETAIN FOR FUTURE REFERENCE.