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Rating: Heartland Tires of Timers Not Rated 3.0 Email Routing List Email & Route  Print Print
Friday, August 13, 1999

Heartland Tires of Timers

Reported by Hayley Green

Those who want to hop out of the Heartland Value Fund or Heartland Value Plus within 270 of purchase will now pay a 1% redemption fee, according to the Milwaukee-based $2.8 billion fund family.

Related Links
  • Heartland Funds
  • On MFWire.com
  • Oakmark Adds Redemption Fee
  • With day trading and market timing firms increasing in popularity, investors seem to be clicking their mouse more than ever. The additional fee is a move being made to discourage market timers who rack up transaction costs and disrupt the management of a fund's portfolio.

    Market timing can be particularly hard on small-cap funds because frequent redemptions can force the portfolio manager to sell stocks at below market price.

    The $1.3 billion Heartland Value Fund appeared to be the main target, according to the company, due to its age and solid performance.

    Redemption fees are growing in popularity as a means of coping with market timers. Other funds that have recently added fees include the Invesco, Montgomery, Oakmark, Strong, and Vanguard fund families.  

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