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Byline: Claire Mencke
Investor's Business Daily
Little could have prepared investors, analysts and advisers for what happened after late September to two high-yield municipal bond funds managed by Heartland Funds. Or could it?
Investors who sued the fund family Friday in federal court in Wisconsin thoughtso.
Money started flowing out of Heartland High-Yield Municipal Bond Fund and Heartland Short Duration High-Yield Municipal Fund before Sept. 28. That day, the fun
ds' manager, Thomas Conlin, resigned and a new manager, Philip Fiskow, took over. Money outflows accelerated.
That doesn't sound so unusual. Both taxable and tax-exempt high-yield funds …