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Rating:Hartford Adds I Shares to Two More Funds Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, March 01, 2010

Hartford Adds I Shares to Two More Funds

Reported by InvestmentWires Staff, 

Hartford rolled out I shares for two more of its funds. Hartford Balanced Income Fund and Short Duration Fund now carry I shares, bringing the total number of Hartford funds with that share class to 31.

Simsbury, Connecticut-based Hartford started making I shares available in July 2006, initially launching the share class in 19 mutual funds.

"As part of our overall strategy, we want our funds to be accessible to fee-based programs," said Keith Sloane, senior vice president of The Hartford Mutual Funds, in an interview. The advisory fee-based wrap market "continues to be a growth area," he added.

There are no concrete plans at this time to further increase the number of funds with I shares, Sloane said.

Hartford offers a total of 49 retail mutual funds.
Company Press Release

SIMSBURY, Conn., Mar 01, 2010 (BUSINESS WIRE) -- The Hartford Mutual Funds today launched Class I shares for The Hartford Balanced Income Fund(1) (HBLIX) and The Hartford Short Duration Fund(2) (HSDIX). Class I shares do not carry a 12b-1 fee and are available for use in advisory fee-based wrap programs sponsored by financial intermediaries.

The Hartford Mutual Funds first rolled out I shares on July 31, 2006 for 19 retail mutual funds. Over time, I shares were added to funds as they gained traction with advisors or as new funds were launched. With the addition of I shares to Balanced Income and Short Duration, there are currently 31 Hartford funds that offer the share class.

"We are very committed to the advisory fee-based wrap market and see it as an important area of potential growth for the fund family," says Keith Sloane, senior vice president of The Hartford Mutual Funds. "We think it is important that broker/dealer-sponsored wrap programs and Registered Investment Advisors have access to these funds in a lower cost, more efficient way so they can help their clients meet their long-term financial goals."

In addition, a 0.50 percent management fee waiver was applied to all share classes of The Hartford Balanced Income Fund, effective October 1, 2009. The management fee waiver now applies to Class I shares as well, and remains in effect until October 31, 2010.

About The Hartford Mutual Funds

The Hartford Mutual Funds, established in 1996, offers a wide array of both broad-mandate and style-focused equity and fixed-income investment options. The Hartford Mutual Funds draw on the investment strength, experience and expertise of Wellington Management and Hartford Investment Management Co. These two organizations bring their decades of market experience, in-house investment capabilities, rigorous research and time-tested investment process to bear in managing the funds to help The Hartford Mutual Fund investors meet their long-term financial goals. Total retail mutual fund assets under management were $46.8 billion as of December 31, 2009. For more information on The Hartford Mutual Funds, including current holdings, visit www.hartfordmutualfunds.com.

About The Hartford

Celebrating nearly 200 years, The Hartford /quotes/comstock/13*!hig/quotes/nls/hig (HIG 24.79, +0.42, +1.72%) is an insurance-based financial services company that serves households, businesses and employees by helping to protect their assets and income from risks, and by managing wealth and retirement needs. A Fortune 500 company, The Hartford is recognized widely for its service expertise and as one of the world's most ethical companies. More information on the company and its financial performance is available at www.thehartford.com.

HIG-L

Some of the statements in this release may be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. We caution investors that these forward-looking statements are not guarantees of future performance, and actual results may differ materially. Investors should consider the important risks and uncertainties that may cause actual results to differ. These important risks and uncertainties include those discussed in our Quarterly Reports on Form 10-Q, our 2009 Annual Report on Form 10-K and the other filings we make with the Securities and Exchange Commission. We assume no obligation to update this release, which speaks as of the date issued.

You should carefully consider investment objectives, risks, and charges and expenses of The Hartford Mutual Funds before investing. This and other information can be found in the Fund's prospectus, which can be obtained from your investment representative or by calling 888-843-7824. Please read it carefully before you invest or send money.

1 The Fund may invest in foreign securities, which can be riskier than investments in U.S. securities (risks may include currency risk, illiquidity risks, and risks from substantially lower trading volume on foreign markets).

The Fund is subject to credit risk (the risk that the issuing company may not be able to pay interest and principal when due), interest rate risk (the risk that your investment may go down in value when interest rates rise), and risk of loss (the risk that you could lose money on your investment).

A portion of this Fund's assets may be below investment grade securities ("high-yield securities" or "junk bonds"), which are rated lower because there is a greater possibility that the issuer may be unable to make interest and principal payments on those securities.

The Fund may invest in securities of companies that conduct their principal business activities (or that trade principally on exchanges) in emerging markets (including Asia, Latin America, Eastern Europe, and Africa), which is riskier than investing in securities of more developed countries (including risks of illiquidity and increased price volatility).

The sub-adviser's investment strategy will influence performance significantly and the Fund could underperform its peers or lose money if that strategy does not perform as expected.

2 The Fund is subject to credit risk (the risk that the issuing company may not be able to pay interest and principal when due), interest rate risk (the risk that your investment may go down in value when interest rates rise), and risk of loss (the risk that you could lose money on your investment).

The Fund may invest in foreign securities, which can be riskier than investments in U.S. securities (risks may include currency risk, illiquidity risks, and risks from substantially lower trading volume on foreign markets).

This Fund is subject to liquidity risk because its investments may trade less frequenty or are not readily marketable; this may adversely affect the Fund's value or prevent the Fund from being able to meet cash obligation or take other investment opportunities.

Wellington Management Company, LLP is an independent and unaffiliated sub-adviser to The Hartford.

The Hartford Mutual Funds are underwritten and distributed by Hartford Investment Financial Services, LLC.

"The Hartford" is The Hartford Financial Services Group, Inc. and its subsidiaries.
 

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