Heartland Mid Cap Value Fund PM Is ‘One to Watch,’ Say Industry Peers

Heartland Mid Cap Value Fund Portfolio Manager Colin McWey

MilwaukeeMay 27, 2019—Heartland Advisors Portfolio Manager and Director of Research Colin McWey, CFA, has been honored with a “Rising Star” award in the 2019 Mutual Fund Industry Awards sponsored by Fund Intelligence.

“Colin’s career trajectory at Heartland, and the results he has achieved for investors, make him a clear ‘rising star’ in the industry. All of us at Heartland are proud to congratulate him on this honor,” said Vinita Paul, vice president, chief compliance officer, and general counsel at Heartland.

McWey has served as Lead Portfolio Manager of the Heartland Mid Cap Value Fund since its launch in October 2014. Over the past three years, the Fund beat its Russell Midcap® Value benchmark by 261 basis points, annualized, earning it a top-quartile ranking in Morningstar® for the one- and three-year periods.* The performance has caught the attention of the media, and the Fund had been named a Wall Street Journal Category King for 2018.

McWey also leads the Mid Cap Value Fund’s corresponding separate account Strategy, which has been recognized as a “Top Gun” by Investment Solutions’ PSN manager database. He co-manages both the Fund and Strategy with fellow Portfolio Manager and Heartland CEO Will Nasgovitz. “Colin joined Heartland nine years ago as a research analyst, quickly building a reputation for disciplined work and perceptive insights,” said Nasgovitz. “The respect Colin garners from his peers and his ability to build consensus across the investment team made him a natural pick in 2015 for the role of director of research. Since then, he has ushered in several enhancements to the firm’s processes, including in risk-management best practices and in bringing an additional level of nuance to assessing balance sheet strength of individual companies.”

Learn more about the Funds and Strategies at heartlandadvisors.com

About Heartland

Established in 1983, Heartland Advisors, Inc. is an independently owned equity value investment manager based in Milwaukee, Wisconsin. As of March 31, 2019, the Firm managed approximately $1.5 billion. The Heartland family of value-driven, actively managed portfolios includes distinct domestic strategies, offered through four mutual funds and four separately managed accounts. Learn more at heartlandadvisors.com.

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As part of the annual Fund Intelligence Mutual Fund and ETF Industry Awards, a panel of judges drawn from throughout the industry selects “up-and-comers who have made significant strides early in their careers and shown significant potential” based on criteria such as leadership, innovation and industry contributions.

For more information about the awards program, visit hmutualfundindustryawards.awardstage.com.

View Mid Cap Value Fund performance as of the most recent quarter end.

In the prospectus (pdf) dated 5/1/2019, the Net Fund Operating Expenses 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 Net 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 5/1/2020, and subject thereafter to annual reapproval of the agreement by the Board of Directors. Without such waiver and/or reimbursements, the Gross Fund Operating Expenses would be 2.37% for the investor class shares and 2.28% for the institutional class shares.

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 their initial public offering 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 of purchase are subject to a 2% redemption fee. Performance does not reflect this fee, which if deducted would reduce an individual's return.

An investor should consider the Funds’ investment objectives, risks, and charges and expenses carefully before investing or sending money. This and other important information may be found in the prospectus (pdf). To obtain a print prospectus, call 800-432-7856. Please read the prospectus carefully before investing.

The Mid Cap Value Fund invests in a smaller number of stocks (generally 30 to 60) than the average mutual fund. The performance of these holdings generally will increase the volatility of the Fund’s returns. The Fund also invests in mid–sized companies on a value basis. Mid-sized securities generally are more volatile and less liquid than those of larger companies. There can be no assurance that the Fund will grow to or maintain an economically viable size, in which case the Board of Directors may determine to liquidate the Fund.

There is no assurance that dividend-paying stocks will mitigate volatility.

Value investments are subject to the risk that their intrinsic value may not be recognized by the broad market.

Information about Morningstar RatingsTM are ©2019 Morningstar, Inc. All rights reserved. The information contained herein is (1) 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 is no guarantee of future results.

Morningstar % Rank are based on the total return percentile rank within each Morningstar Category and does not account for a fund’s sales charge (if applicable). Rankings will not be provided for periods less than one year. The highest (or most favorable) percentile rank is 1 and the lowest (or least favorable) percentile rank is 100. Historical percentile ranks are based on a snapshot of the funds as they were at the time of the calculation. Percentile ranks within categories are most useful in those groups that have a large number of funds. For small universes, funds will be ranked at the highest percentage possible. For instance, if there are only two specialty-utility funds with 10-year average total returns, Morningstar will assign a percentile rank of 1 to the top-performing fund, and the second fund will earn a percentile rank of 51 (indicating the fund underperformed 50% of the sample).

*For the period ended 3/31/2019, the Heartland Mid Cap Value Fund ranked 57 out of 417 and 9 out of 368 in the Morningstar Mid Cap Category for the 1-, and 3-year periods, respectively, based on total return. Past performance is no guarantee of future results.

The Heartland Funds are distributed by ALPS Distributors, Inc.

The above individuals are registered representatives of ALPS Distributors, Inc.

Separately managed accounts and related investment advisory services are provided by Heartland Advisors, Inc., a federally registered investment advisor. ALPS Distributors, Inc., is not affiliated with Heartland Advisors, Inc.

Heartland’s investing glossary provides definitions for several terms used on this page.

Data sourced from FactSet: Copyright 2019 FactSet Research Systems Inc., FactSet Fundamentals. All rights reserved.

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