| Investment Process |
| Fund Returns |
| Daily Prices (NAVs) |
| Money Market Yields |
| Top Holdings & Industries |
| Prospectuses |
(800) 421-4184
(727) 567-8143
Small Cap Stock Fund Profile (as of 6/30/08)
Key Facts (as of 6/30/08)| Class | Inception | Symbol | Fund Cusip |
| A Shares | 5/7/93 | HRSCX | 42725G-100 |
| C Shares | 4/3/95 | HSCCX | 42725G-407 |
| Total net assets | $363.88 million | ||
| Total number of holdings | 164 | ||
| Initial minimum investment | $1,000 + | ||
| Retirement account minimum | $500 + | ||
| Subsequent investment | No minimum | ||
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+ Shareholders may establish an automatic investment plan with an initial investment of $50 and subsequent investments of $50 per month. |
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Top Holdings, Industries and Asset Allocation (as of 6/30/08)
| Top Holdings | Top Industries | ||
| Lufkin Industries | 1.99% | Commercial Services | 9.09% |
| OYO Geospace | 1.63% | Software | 7.00% |
| James River Coal | 1.62% | Retail | 6.67% |
| Comstock Resources | 1.48% | Electronics | 5.35% |
| Ameron International | 1.47% | Healthcare Services | 5.27% |
| Eclipsys | 1.46% | ||
| Coherent | 1.38% | ||
| Ansys | 1.37% | Asset Allocation | |
| Icon | 1.32% | Invested Portfolio | 97.92% |
| Genesco | 1.28% | Cash/Other | 2.08% |
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. |
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Performance Highlights
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Average annual total returns for periods through June 30, 2008. |
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| (excluding sales charge) | (including sales charge) | Expense ratio | |
| Class A shares | |||
| Life of class (5/7/93) | 10.28% | 9.93% | 1.25% |
| 15-year | 10.36% | 10.00% | |
| 10-year | 5.32% | 4.80% | |
| 5-year | 11.25% | 10.17% | |
| 3-year | 6.43% | 4.71% | |
| 1-year | -12.97% | -17.10% | |
| Year-to-date (not annualized) |
-8.82% | -13.16% | |
| Class C shares | |||
| Life of class (4/3/95) | 9.73% | 9.73% | 2.00% |
| 10-year | 4.54% | 4.54% | |
| 5-year | 10.42% | 10.42% | |
| 3-year | 5.64% | 5.64% | |
| 1-year | -13.61% | -13.61% | |
| Year-to-date (not annualized) |
-9.14% | -10.05% | |
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*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 |
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Investment Process
The fund's assets are divided equally between two nationally recognized managers. Boksen prefers growth stocks; Eagle Boston favors a value approach. Working independently, they generate two distinct portfolios consisting of the stocks they believe will bring the most value to the fund.
They employ a core investment strategy when considering potential purchases.
The company should possess steady earnings growth and have dominant market position or strong franchise value.
- Healthy or improving balance sheet and high cash flow from operations are preferable.
Boksen and Eagle Boston consider a high level of management ownership in the company to be a good reflection of management's confidence in the direction of the business.
A Word about Risk
Investing in small company stocks may involve greater risks than investing in larger, more established companies. These companies often have narrow markets and more limited managerial and financial resources.
Eagle Asset Management and Eagle Boston Investment Management, the subadvisers are affiliates of Heritage Asset Management, Inc., the investment adviser
| Fund Objective |
Seeks long-term capital appreciation by investing primarily in the equity securities of companies that are believed to have significant growth potential.
Meet the Managers
Bert L. Boksen, CFA Mr. Boksen is the managing director of the small cap equity program at subadviser Eagle Asset Management, Inc. Before joining Eagle in 1995, Boksen served as CIO of Raymond James & Associates. Prior to working for Raymond James, he was an analyst for Standard & Poor's. Years of Investment Experience: 31 Assumed Management: August 1995 |
Eric Mintz, CFA Mr. Mintz is assistant portfolio manager of the fund. He has 13 years of investment experience as an analyst and research associate. Mintz joined Eagle in 2005. Years of Investment Experience: 13 Assumed Management: January 2008 |
David Adams, CFA 
Jack McPherson, CFA David M. Adams lead portfolio manager and John McPherson, co-portfolio manager, are managing directors of subadviser Eagle Boston Investment Management and are responsible for the Eagle Boston portion of the fund's portfolio. Years of Investment Experience: Adams - 18 McPherson - 18 Assumed Management: January 2007 |