Investment Objective

Seeks long-term capital appreciation.


Global Research HLS Fund seeks long-term capital appreciation by investing at least 80% of its assets primarily in global equity securities from a broad range of industries, countries, and market capitalizations. The Fund will typically seek to maintain some representation in each major industry represented in the MSCI All-Country World Index. The Fund will also invest in a diversified mix of domestic and international securities from both developed and emerging markets and may be denominated and/or traded in both U.S. dollars and foreign currencies.Wellington Management utilizes bottom-up, fundamental analysis to identify specific securities for purchase or sale. Security selection within the Fund is the responsibility of Wellington Management’s Global Industry Analysts (GIAs); they continually research the universe of securities within their respective coverage areas and select their highest conviction names to incorporate into the Fund.


The Fund invests primarily in stocks in a broad range of countries, industries, and market capitalizations worldwide, seeking broad diversification with 350+ security names across 40+ countries.


Wellington Management’s 50 global industry analysts average 19 years of investment experience, with many analysts covering the same companies and sectors for years, if not decades.

Portfolio Management

  • Cheryl M. Duckworth, CFA

    Cheryl M. Duckworth, CFA
    Managing Director & Partner
    Associate Director, Global Industry Research
    Wellington Management
    Professional Experience Since 1988
    BA, Duke University
    MS, MIT (Sloan)

  • Mark D. Mandel, CFA

    Mark D. Mandel, CFA
    Partner & Director of Global Industry Research
    Wellington Management
    Professional Experience Since 1989
    BA, Bates College
    MBA, Amos Tuck School of Business Administration, Dartmouth College

Portfolio managers are supported by the full resources of Wellington Management.
Average Annual Total Returns
(as of 3/31/2014)
Average Annual Total Returns YTD 1YR 3YR 5YR 10YR SI
AT NAV 2.54% 22.13% 10.48% 20.75% --- 6.28%
Benchmark 1.21% 17.17% 9.14% 18.43% --- ---
Peer Group 1.42% 18.34% 8.88% 17.73% --- ---
Average Annual Total Returns
(as of 3/31/2014)
Average Annual Total Returns YTD 1YR 3YR 5YR 10YR SI
AT NAV 2.54% 22.13% 10.48% 20.75% --- 6.28%
Benchmark 1.21% 17.17% 9.14% 18.43% --- ---
Peer Group 1.42% 18.34% 8.88% 17.73% --- ---

PERFORMANCE DATA QUOTED REPRESENTS PAST PERFORMANCE AND DOES NOT GUARANTEE FUTURE RESULTS. The investment return and principal value of the investment will fluctuate so that an investors' shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted.

Inception Date: 01/31/2008

Operating Expenses

Net 1.01% | Gross 1.01%

Calendar Year Returns
Fund Benchmark Peer Group
2013 29.01% 23.44% 24.69%
2012 18.39% 16.80% 15.74%
2011 -9.28% -6.86% -8.12%
2010 16.01% 13.21% 13.35%
2009 42.13% 35.41% 34.51%

Excludes sales charges. If sales charges and taxes had been included, the value would have been lower.

Excludes sales charges. If sales charges and taxes had been included, the value would have been lower.

IA-Share Morningstar Ratings
(as of 3/31/2014)
Overall ---
3 year 804
5 year 642
10 year ---

Past performance is no guarantee of future results. Morningstar ratings reflect historical risk-adjusted performance as of March 31, 2014 and are subject to change every month. Ratings are based on a risk-adjusted return measure that accounts for variations in monthly performance (including the effects of sales charges, loads and redemption fees), emphasizing downward variations and rewarding consistent performance. The top 10% of funds in a category receive five stars, the next 22.5% receive four stars, the next 35% receive three stars, the next 22.5% receive two stars, and the bottom 10% receive one star. The Overall Rating reflects a weighted average of a fund’s 3-, 5- and 10-year (if applicable) risk-adjusted performance. Morningstar Load-Waived Ratings supplement Morningstar Ratings for Class A shares by recalculating measures that are load-adjusted without the effects of the front-end sales charge. Load-waived ratings should only be considered by investors who are not subject to the Fund's front-end sales charge.

Holdings are subject to change. Percentages may be rounded.

Top Holdings

(as of 3/31/2014)
label percentageholding
Google, Inc. 1.36, Inc. 1.21
Qualcomm, Inc. 0.83
National Bank of Canada 0.78
Canadian Imperial Bank of Commerce 0.77
Standard Chartered plc 0.76
Walt Disney Co. 0.75
AirAsia Berhad 0.75
NXP Semiconductors N.V. 0.71
Facebook, Inc. 0.69
Total Portfolio % 8.61
(as of 12/31/2013)
label percentageholding, Inc. 1.42
Diageo Capital plc 1.39
Anheuser-Busch InBev N.V. 1.38
Mondelez Int'l., Inc. 1.35
Google, Inc. 1.12
Apple, Inc. 1.09
Qualcomm, Inc. 0.85
Walt Disney Co. 0.76
Bristol-Myers Squibb Co. 0.73
Standard Chartered plc 0.72
Market Cap Distribution(as of 3/31/2014)
Small Cap (< $2B) 8.7%
Mid Cap ($2B - $10B) 25.4%
Large Cap (> $10B) 65.9%
Holdings Characteristics(as of 3/31/2014)
Holdings Characteristics Fund MSCI AC World Index1
Asset Weighted Market Cap $52.2B $86.2B
Earnings Per Share 13.6% 11.0%
Median Market Cap $8.8B $8.9B
Price/Book 2.2x 2.1x
Price/Earnings 13.2x 12.8x
Return on Equity 15.2% 18.4%

Regional Exposure (%)

(as of 3/31/2014)
label value
North America 56.06
Europe/Developed 26.43
Emerging Markets 10.21
Japan 3.78
Asia/Developed 3.52
Cash 0.00
Other 0.00
Sector Characteristics
Sectors 12/31/2013 Fund 3/31/2014 Benchmark13/31/2014 UNDERWEIGHT / OVERWEIGHT -40 4
  Consumer Discretionary 15.8 15.8 11.7
Overweight 100.0%
  Consumer Staples 10.6 11.1 9.7
Overweight 25.0%
  Industrials 11.7 11.7 10.8
Overweight 25.0%
  Utilities 3.8 3.5 3.3
Overweight 25.0%
  Energy 8.3 8.7 9.7
Overweight 25.0%
  Health 10.8 10.5 10.6
Overweight 25.0%
  Information Tech 12.7 12.0 12.7
Overweight 25.0%
  Materials 5.2 4.8 6.1
Overweight 25.0%
  Telecom Services 2.9 2.4 3.9
Overweight 50.0%
  Financials 17.9 19.5 21.5
Overweight 75.0%

Insights & Research

  • doc

    Global Economic Outlook: 1Q14

    Robert Scherfke of Wellington Management discusses last year's lackluster growth performance, and explains why he thinks the global economy should be on a stronger footing this year.


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Active-Trading Risk: Actively trading investments may result in higher costs and higher taxable income.

Foreign Investment & Emerging Markets Risk: Foreign investments can be riskier than U.S. investments. Potential risks include currency risk that may result from unfavorable exchange rates, liquidity risk if decreased demand for a security makes it difficult to sell at the desired price, and risks that stem from substantially lower trading volume on foreign markets. These risks are generally greater for investments in emerging markets, which are also subject to greater price volatility, and custodial and regulatory risks.

Market, Selection, and Strategy Risk: The Fund’s share price may fluctuate due to market risk and/or security selections that may underperform the market or relevant benchmarks. If the sub-adviser’s investment strategy does not perform as expected, the Fund could underperform its peers or lose money. There is no guarantee the Fund will achieve its stated objective.

Small/Mid-cap Stock Risk: Small- and mid-cap stocks are generally more volatile and risky and may be less liquid than large-cap stocks because they may have limited operating histories, narrow product lines, and focus on niche markets.

Asset Weighted Market Cap is the value of a corporation as determined by the number of outstanding shares of common stock multiplied by the price per share.

Beta is a measure of the volatility of a portfolio relative to a benchmark. A beta of less than 1.00 indicates lower risk than the market; a beta of greater than 1.00 indicates higher risk than the market.

EPS Growth Rate is the projected growth rate in earnings per share for the next five years.

Price/Book is the ratio of a stock’s price to its book value per share.

Price/Earnings is the ratio of a stock’s price to its earnings per share.

R Squared represents the percentage of the portfolio’s movement that can be explained by the market.

Return on Equity is the average amount of net income returned as a percentage of shareholder’s equity over the past five years.

Standard Deviation is a measure of the portfolio’s total-return volatility over the last three years. A higher standard deviation indicates greater historical volatility.


Hartford HLS Funds are underwritten and distributed by Hartford Funds Distributors, LLC.