Heartland Advisors, Inc.

Heartland Advisors, based in Milwaukee, Wisconsin, was formed by Bill Nasgovitz in 1983. Known as America's Value Investor^®, for its dedication to the value style of investing, the firm now manages approximately $2.6 billion (as of March 31, 2008) for institutions, individual clients, and investor accounts in the Heartland Funds.

Heartland is 100% employee owned and places strong emphasis on value investing and customer satisfaction. "Value investing is our asset management philosophy and our passion," summarizes Heartland president Bill Nasgovitz. "It's also our single-minded pursuit and commitment to our investors. We believe this discipline offers our investors the potential for higher returns with lower risk over time."

Heartland's commitment to value investing makes it distinctive. We believe this is the most intelligent way to build an investor's net worth.