Overall Morningstar Rating™ as of 5/31/09, out of 332 mid-cap value funds (read more...) Morningstar Proprietary Ratings™ reflect historical risk-adjusted performance as of May 31, 2009. The overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its 3-, 5-, and 10-year Morningstar Rating™ metrics.
The Select Value Fund seeks long-term capital appreciation by investing in a concentrated portfolio of companies, which we believe are undervalued relative to their intrinsic value. Read the Select Value Fund fact sheet.
The distinguishing characteristic of this Fund is its ability to invest in companies of all sizes, usually with market capitalizations greater than $500 million, providing it with the flexibility to generate consistent returns in a variety of market environments.
Certain asset classes perform differently depending on the market cycle. While small- and mid-cap stocks have historically generated greater returns than large-cap stocks, they also tend to be more volatile. Because we choose among all value stocks in the marketplace, the Fund is diversified among market caps, which may help to control volatility and generate a more consistent return profile.
Heartland’s experienced portfolio management team follows the disciplined process, Heartland’s 10 Principles of Value Investing.™
We focus on what we consider to be the best risk adjusted investment opportunities for patient, long-term investors. We believe those investment opportunities have the following attributes:
Ted Baszler, CFA, CPA , Will Nasgovitz, Hugh Denison & David Fondrie, CPA
"We strive for long-term consistent returns, believing that the power of compounding over time builds wealth for shareholders."
— David Fondrie
The above individuals are Registered Representatives of ALPS Distributors, Inc.
In addition to stocks of large companies, the Select Value Fund invests in small and mid-sized companies that are generally less liquid than large companies. Value-based investments are subject to the risk that the broad market may not recognize their intrinsic values. The Fund also invests in a smaller number of stocks (generally 40 to 60) than the average mutual fund. The performance of these holdings generally will increase the volatility of the Fund's returns.
©2009 Morningstar, Inc. All Rights Reserved. The information contained herein: (1)is proprietary to Morningstar and/or its content providers; (2)may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance, rankings and ratings are no guarantee of future results. Rankings and ratings change monthly. Investment return and principal value will fluctuate so that your shares, when redeemed may be worth more or less than their original purchase price.
The Overall Morningstar Rating™ for a fund is derived from a weighted average of the performance figures associated with its 3-, 5-, and 10-year Morningstar Rating™ metrics. As of 5/31/09 the Select Value Fund was rated against 332, 247, and 90 mid-cap value funds over the 3-, 5- and 10-year periods, respectively. The Value Plus Fund was rated against 314, 239, and 113 small value funds over the 3-, 5- and 10-year periods, respectively. The Value Fund was rated against 573, 460, and 230 small blend value funds over the 3-, 5- and 10-year periods, respectively. The Select Value Fund has received Morningstar's 4-star rating for the 3-year, 5-year and 10-year periods. The Value Plus Fund has received Morningstar's 5-star rating for the 3- and 5-year period and 4-star rating for the 10-year period. The Value Fund has received Morningstar's 3-star rating for the 3-year period, 2-star rating for the 5-year period and 4-star rating for the 10-year period. For each fund with at least a 3-year history, Morningstar calculates a Morningstar Rating™ based on Morningstar's risk-adjusted return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in a category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately which may cause slight variations in the distribution percentages.) The Morningstar Ratings™ are for the specified share class; other classes may have different performance characteristics.
Past performance does not guarantee future results. Lipper, Inc., a Reuters company, is a nationally recognized organization that ranks the performance of mutual funds within a universe of funds that have similar investment objectives. Rankings are historical and are based on total return with capital gains and dividends reinvested. For the Since Inception, 10-, 5-, 3-, and 1-year periods, the Select Value Fund is ranked 2 of 60, 2 of 98, 10 of 238, 39 of 307 and 63 of 389 as of 12/31/08. The Heartland Select Value Fund had a negative average annual return for the 3- and 1-year periods as of 12/31/08.
CFA is a trademark owned by CFA Institute.
We'll send you our Investment Kit in the mail Request Your Kit!