Marketers at Heartland Advisors of Milwaukee, Wis. finally have something to cheer about. After months of negative PR following the blow up of two of its municipal bond funds, Heartland got a break by making Forbes’ list of the top 10 funds that perform well in both bull and bear markets.

The list, called the 2001 Honor Roll, named the Heartland Value Fund as one of the best funds for capital preservation, continuity of management, diversification, accessibility and long-term performance.

Heartland has endured months of negative press after it was forced to write down the NAV’s of two of its funds last November. As a result one of the funds lost more than 70% of its value while the other lost 44%. Ongoing lawsuits are the source of daily phone calls from reporters. (See MFMN 8/13/2001)

Perhaps not surprisingly, Heartland’s release prominently featured the disclaimer, "Past performance is no guarantee of future results."

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