Seeks long-term appreciation by investing in mid-cap, dividend paying companies
Invests 80% of its assets in mid-cap securities with the market cap range defined by the Russell Midcap® Index
Designed for investors who seek a portfolio of medium-sized, dividend paying companies
Benchmarked to the Russell Midcap® Value Index
Typically holds 30-60 stocks
Inception date: 2014
All stocks are evaluated based on our proprietary, consistent, and time-tested 10 Principles of Value Investing™. These criteria are central to Heartland’s value investing philosophy and provide a framework for evaluating securities.
The Investment Team applies a bottom-up research approach, combining traditional fundamental analysis and meetings with more than 1,000 company management teams in a typical year. The 10 Principles™ are designed to help the Team assess a company's valuation, but also focus on metrics associated with financial soundness, management team strength, and future outlook.
Average Annual Total Returns
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|2016 (%)||2015 (%)||2014* (%)|
|Mid Cap Value Investor Class||28.67||-7.08||1.61|
|Mid Cap Value Institutional Class||28.97||-6.89||1.73|
|Russell Midcap® Value||20.00||-4.78||2.54|
*Performance is from 10/31/2014 to 12/31/2014 and is not annualized
Past performance does not guarantee future results. Performance represents past performance; current returns may be lower or higher. Performance information for institutional class shares of Funds that existed prior to 5/1/2008, is based on the performance of investor class shares. The investment return and principal value will fluctuate so that an investor's shares, when redeemed may be worth more or less than the original cost. All returns reflect reinvested dividends and capital gains distributions, but do not reflect the deduction of taxes that an investor would pay on distributions or redemptions. Subject to certain exceptions, shares of a Fund redeemed or exchanged within 10 days (90 days for the International Value Fund) of purchase are subject to a 2% redemption fee. Performance does not reflect this fee, which if deducted would reduce an individual's return.
In the prospectus (pdf) dated 5/1/2016, the Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement for the investor and institutional classes of the Mid Cap Value Fund are 1.25% and 0.99%, respectively. The Advisor has contractually agreed to waive its management fees and/or reimburse expenses of the Fund to ensure that Total Annual Fund Operating Expenses for the Fund do not exceed 1.25% of the Fund’s average net assets for the investor class shares and 0.99% for the institutional class shares, through at least 10/31/2017, and subject thereafter to annual reapproval of the agreement by the Board of Directors. Without such waiver and/or reimbursements, the Total Annual Fund Operating Expenses would be 3.55% for the investor class shares and 3.41% for the institutional class shares.
The inception date for the Mid Cap Value Fund is 10/31/2014 for the investor and institutional class.
Equity securities only, weighted median unless otherwise noted
**Weighted average, and Dun & Bradstreet is excluded because its open market stock repurchases have made the company’s total equity negative, resulting in an excessively high debt ratio that is not reflective of D&B’s investment grade credit rating based on Heartland Advisors’ beliefs