Effective May 1, 2008, shares previously issued by Heartland Funds were reclassified as Investor Class Shares and the Heartland Funds began offering Institutional Class Shares to investors.
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Investor Class Shares |
Institutional Class Shares |
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Eligible investors:
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Open to all investors
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Open only to eligible investors (1)
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Front-end sales charge:
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None
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None
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Contingent deferred sales charge:
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None
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None
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12b-1 Fee:
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0.25% of average
daily net assets
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None
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Minimum investment amount:
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$1,000 (2)(3)
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$500,000 (2)(3)
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(1) Please refer to "Institutional Class Shares" below for a description of investors that are eligible to purchase Institutional Class Shares.
(2) Minimum investment amount varies according to Fund and type of account. Please refer to information below for a description of minimum investment amounts.
(3) Each Fund may waive or lower its investment minimums for any reason. Different minimums may apply to accounts opened through third parties.
Investor Class Shares
This Class of shares is offered to all types of investors.
Minimum Investments
Initial investment must be for a minimum of $1,000.* Subsequent purchases made, other than through dividend reinvestment or an automatic investment plan, must be for a minimum of $100.
* Except for accounts opened under prototype Individual Retirement Accounts ("IRAs"), Coverdell Education Savings Accounts ("ESAs"), and accounts opened as an automatic investment plan.
Each Fund may waive or lower its investment minimums for any reason. Different minimums may apply to accounts opened through third parties.
Fees
Investor Class Shares of the Funds are sold without a sales charge. The Investor Class Shares of each Fund are subject to a 12b-1 fee calculated at the annual rate of up to 0.25% of the average daily net assets of the Investor Class Shares of that Fund.
Institutional Class Shares
This Class of shares is offered to all types of investors provided that the investor meets the minimum investment threshold for Institutional Class Shares discussed below.
Minimum Investments
The minimum investment is $500,000. The minimum investment amount may be waived for accounts held in qualified retirement or profit sharing plans opened through a third party service provider or recordkeeper.
Investors generally may meet the minimum investment amount by aggregating multiple accounts with common ownership or discretionary control within a Fund.
Fees
Institutional Class Shares of the Funds are sold without a sales charge and are not subject to a 12b-1 fee. Heartland Advisors, Inc. has voluntarily agreed to waive fees and/or reimburse certain expenses with respect to the Institutional Class Shares to the extent necessary to maintain the Institutional Class Shares’ “Total Annual Fund Operating Expenses ” at a ratio of 0.99% of average daily net assets. The Advisor may modify or discontinue these waivers at any time without notice.
More Information
For more information about Institutional Class of Shares, please call Sheila Glynn-Criqui at 888-505-5180. For a complete discussion of eligibility requirements and transaction requirements, please see the Funds’ prospectus.