| Investment Process |
| Portfolio Highlights |
| Fund PDF Fact Sheet |
| Fund Returns |
| Daily Prices (NAVs) |
| Money Market Yields |
| Top Holdings & Industries |
| Prospectuses |
(800) 421-4184
(727) 567-8143
Mid Cap Stock Fund Profile (as of 3/31/08)
Morningstar Overall Rating*
(4 stars as of March 31, 2008)
*For the overall period ended March 31, 2008, the Fund’s Class A shares were rated 4 stars. This proprietary rating by Morningstar, Inc. reflects risk-adjusted performance among a total of 827 mid-cap growth category funds. Class A shares of the fund also received a 3-star rating out of 827 and 694 funds for the 3- and 5-year periods, respectively, and a 5-star rating out of 305 funds for the 10-year period. These ratings are subject to change every month. Funds with at least three years of performance history are assigned ratings from the fund's three-, five- and ten-year average annual returns (when available) and a risk factor that reflects fund performance relative to three-month Treasury bill monthly returns. Funds' returns are adjusted for fees and sales loads. Ten percent of the funds in an investment category receive five stars, 22.5% receive four stars, 35% receive three stars, 22.5% receive two stars and the bottom 10% receive one star. Investment return and principal value will vary so that investors have a gain or loss when shares are sold. Funds are rated for up to three time periods (3-, 5-, and 10-years) and these ratings are combined to produce an overall rating. Ratings may vary among share classes and are based on past performance. Past performance does not guarantee future results.
Key Facts (as of 3/31/08)| Class | Inception | Symbol | Fund Cusip |
| A Shares | 11/6/97 | HMCAX | 42725G-860 |
| C Shares | 11/6/97 | HMCCX | 42725G-852 |
| Total net assets | $1.52 billion | ||
| Total number of holdings | 65 | ||
| Initial minimum investment | $1,000 + | ||
| Retirement account minimum | $500 + | ||
| Subsequent investment | No minimum | ||
|
+ Shareholders may establish an automatic investment plan with an initial investment of $50 and subsequent investments of $50 per month. |
|||
Top Holdings, Industries and Asset Allocation (as of 3/31/08)
| Top Holdings | Top Industries | ||
| Laboratory Corp. of America | 3.54% | Insurance | 7.40% |
| Danaher | 3.27% | Pipelines | 6.23% |
| Washington Post | 3.27% | Software | 5.90% |
| Williams | 3.23% | Diversified Manufacturer | 5.54% |
| Equitable Resources | 3.01% | Printing and Publishing | 5.25% |
| AON | 2.84% | ||
| Republic Services | 2.58% | ||
| Campbell Soup | 2.42% | Asset Allocation | |
| Arch Capital Group | 2.35% | Invested Portfolio | 100.00% |
| Pactiv | 2.28% | Cash/Other | 0.00% |
The information provided above should not be construed as a recommendation to buy, sell or hold any particular security. The data is shown for informational purposes only and is not indicative of future portfolio characteristics or returns. Portfolio holdings are not stagnant and may change over time without prior notice. |
|||
Performance Highlights
|
Average annual total returns for periods through March 31, 2008. |
|||
| (excluding sales charge) | (including sales charge) | Expense ratio | |
| Class A shares | |||
| Life of class (11/6/97) | 11.02% | 10.50% | 1.13% |
| 10-year | 9.96% | 9.43% | |
| 5-year | 13.17% | 12.08% | |
| 3-year | 8.54% | 6.79% | |
| 1-year | -3.63% | -8.21% | |
| Year-to-date (not annualized) | -11.13% | -15.35% | |
| Class C shares | |||
| Life of class (11/6/97) | 10.19% | 10.19% | 1.88% |
| 10-year | 9.13% | 9.13% | |
| 5-year | 12.33% | 12.33% | |
| 3-year | 7.73% | 7.73% | |
| 1-year | -4.30% | -4.30% | |
| Year-to-date (not annualized) | -11.30% | -12.18% | |
|
*Performance data quoted represents past performance which does not guarantee future results. The investment return and principal value will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Net performance reflects a front-end sales charge of 4.75% for A shares. A 1% CDSC for C shares is charged on redemptions made within 12 months of purchase, but not at one year. Performance data quoted reflects reinvested dividends and capital gains. Current performance may be higher or lower than the performance data quoted. To obtain more current performance, please visit the Returns and Prices section of the website. Past performance does not guarantee future results. Please consider the investment objectives, risks, charges, and expenses of any fund carefully before investing. Contact Heritage at (800) 421-4184 or your financial advisor for a prospectus, which contains this and other important information about the funds. Read the prospectus carefully before you invest or send money. Not FDIC insured. No bank guarantee. May lose value. Heritage Fund Distributors, Inc., Member FINRA. 880 Carillon Parkway, St. Petersburg, FL 33716 |
|||
Investment Process
The portfolio manager strongly believes in buying firms that possess sustainable advantages at a price that is attractive relative to future cash flows.
Management seeks companies with sustainable advantages, specifically:
- Market "power" firms that often have stable recurring revenue and income streams.
- Profitable companies generating cash so that growth can be self-financed.
- Firms in which earnings growth and profits revert to the mean unless a barrier to entry exists.
The team emphasizes the importance of diversification in developing and maintaining the fund's portfolio.
Portfolio Highlights
Mid-sized companies are often more stable than start-up companies and have the potential to provide investors with the earnings power of small-cap stocks, but with potentially less market risk. Companies in this market cap arena may be small enough to be unnoticed by analysts and business editors, yet large enough to have the critical mass to continue gaining market share.
A Word about Risk
Investing in mid-cap stocks may involve greater risks that investing in larger, more established companies, including the risk of more volatile trading than with large-cap stocks.
Eagle Asset Management, the subadviser is an affiliate of Heritage Asset Management, Inc., the investment adviser
| Fund Objective |
Seeks long-term capital appreciation by investing principally in the equity securities of companies with capitalizations of $500 million to $15 billion.
Meet the Managers
Todd L. McCallister, CFA Todd L. McCallister, CFA, is a managing director with Eagle Asset Management, Inc., the fund's subadviser and a Chartered Financial Analyst. He has a doctorate from the University of Virginia. Formerly, he was with Investment Advisors, Inc., where he co-managed $1.5 billion in mid-cap growth assets. Years of Investment Experience: 21 Assumed Management: At Fund Inception |
Stacey Serafini Thomas, CFA Stacey Serafini Thomas, CFA is a vice president of Eagle Asset Management, Inc. She graduated cum laude from Harvard University in 1997 with a B.A. in Government. Years of Investment Experience: 11 Assumed Management: At Fund Inception |