FORWARD FUNDS INC
24F-2NT, 1999-03-29
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                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 24F-2
                        Annual Notice of Securities Sold
                             Pursuant to Rule 24f-2

     Read  instructions at end of Form before  preparing  Form.  Please print or
type.

1.      Name and address of issuer:

         Forward Funds, Inc.
         433 California Street, Ste. 1010
         San Francisco, CA  94104

2.   The name of each series or class of securities for which this Form is filed
     (If the Form is being filed for all series and classes of securities of the
     issuer, check the box but do not list series or classes: x

3.      Investment Company Act File Number:  811-8419

        Securities Act File Number:  333-37367

4(a). Last day of fiscal year for which this Form is filed: December 31, 1998

     4(b).  [ ] Check box if this Form is being filed late  (i.e.,  more than 90
calendar days after the end of the issuer's fiscal year).  (See Instruction A.2)
Note: If the Form is being filed late, interest must be paid on the registration
fee due.

     4(c). [ ] Check box if this is the last time the issuer will be filing this
Form.

5. Calculation of registration fee:

     (i) Aggregate sale price of securities sold during the fiscal year pursuant
to section 24(f):  $220,753,297

     (ii)  Aggregate  price of  securities  redeemed or  repurchased  during the
fiscal year: $10,412,060

     (iii)  Aggregate  price of securities  redeemed or  repurchased  during any
prior  fiscal  year  ending  no  earlier  than  October  11,  1995 that were not
previously used to reduce registration fees payable to the Commission: $ (0)


         (iv)     Total available redemption credits (add items
                  5(ii) and 5(iii)                                 $10,412,060

         (v)      Net sales - if Item 5(i) is greater than item 5(iv)  [subtract
                  Item 5(iv) from Item 5(i)]: $210,341,237


         (vi)     Redemption credits available for use in future years - if item
                  5(i) is less than Item  5(iv)  [subtract  Item 5(iv) from Item
                  5(i)]: $ (0)


         (vii)    Multiplier for determining registration fee (See
                  Instruction C.9):                                x    .000278

         (viii)   Registration  fee due  [multiply  Item  5(v)  by Item  5(vii)]
                  (enter "0" if no fee is due): = $58,475

6.       Prepaid Shares

     If the  response  to item 5(i) was  determined  by  deducting  an amount of
securities  that were  registered  under the  Securities Act of 1933 pursuant to
rule 24e-2 as in effect  before  October  11,  1997,  then  report the amount of
securities  (number of shares or other units) deducted here: (0) . If there is a
number of shares or other  units  that were  registered  pursuant  to rule 24e-2
remaining unsold at the end of the fiscal year for which this form is filed that
are  available  for use by the issuer in future  fiscal  years,  then state that
number here: (0) .

     7.  Interest  due - if this Form is being filed more than 90 days after the
end of the issuer's fiscal year (see instruction D): +$ (0)

8.       Total of the amount of the  registration  fee due plus any interest due
         [line 5(viii) plus line 7]: =$58,475


9.       Date the  registration  fee and any  interest  payment  was sent to the
         Commission's lockbox depository:

                           March 24, 1999

                  Method of Delivery:

                            x       Wire Transfer
                           __       Mail or other means

<PAGE>



                                   SIGNATURES

     This report has been signed below by the following persons on behalf of the
issuer  and in the  capacities  and on the date  indicated.  By  (Signature  and
Title)*


                                     /s/Julie A. Tedesco
                                    Julie A. Tedesco
                           Assistant Secretary

Date:    March 29, 1999
*Please print the name and title of the signing officer below the signature.



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