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Taxable Bond fund

Hartford Floating Rate Fund   

Taxable Bond fund

Hartford Floating Rate Fund   
Share Class - Y (HFLYX)

Objective

Seeks to provide high current income and long-term total return.

Overview

A fund that typically invests in floating-rate loans and securities that are below-investment-grade.

Portfolio Management
Managing Director
Fixed-Income Portfolio Manager
6
YRS
MANAGING THIS FUND
20
YRS
AT WELLINGTON MANAGEMENT
29
YRS
EXPERIENCE IN THIS INDUSTRY
Managing Director
Fixed-Income Portfolio Manager
6
YRS
MANAGING THIS FUND
23
YRS
AT WELLINGTON MANAGEMENT
35
YRS
EXPERIENCE IN THIS INDUSTRY

The portfolio managers are supported by the full resources of Wellington.

Performance

PERFORMANCE %
 
CUMULATIVE %
(as of 2/29/2024)
AVERAGE ANNUAL TOTAL RETURNS %
(as of 2/29/2024)
YTD 1YR 3YR 5YR 10YR SI
Hartford Floating Rate Y 1.22 9.03 3.70 3.69 3.53 4.03
Benchmark 1.64 11.49 5.69 5.26 4.49 ---
Morningstar Bank Loan Category 1.46 10.53 4.48 3.92 3.43 ---
 
CUMULATIVE %
(as of 12/31/2023)
AVERAGE ANNUAL TOTAL RETURNS %
(as of 12/31/2023)
YTD 1YR 3YR 5YR 10YR SI
Hartford Floating Rate Y 11.14 11.14 3.85 4.31 3.47 4.00
Benchmark 13.29 13.29 5.74 5.78 4.41 ---
Morningstar Bank Loan Category 12.19 12.19 4.49 4.42 3.35 ---

Performance data quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's 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.

SI = Since Inception. Fund Inception: 04/29/2005

Characteristics

FUND ESSENTIALS
Inception Date 04/29/2005
Net Assets $1.3 billion
Gross Operating Expenses 0.80%
Net Operating Expenses 0.79%
Morningstar Category Bank Loan
Lipper Classification Loan Participation Funds
CUSIP 416648525
Fund Number 1212
FUND STATS
Dividend Frequency
Monthly
# of Issuers
260
# of Holdings
331
Holdings Characteristics
Average Bank Loan Price
$96.15
Yield to Worst (%)
8.38%
Effective Duration
0.18 yrs
% in Bank Loans
95
Yields (%) (as of 2/29/24)
30-Day SEC Yield
8.04
Unsubsidized 30-Day SEC Yield
8.02
Top Ten Issuers (%)
SPDR Blackstone Senior Loan ETF 2.89
Asurion LLC 2.11
Acrisure LLC 1.61
First Brands Group LLC 1.51
UFC Holdings LLC 1.46
MH Sub I LLC 1.39
HUB International Ltd. 1.31
McAfee Corp. 1.29
Sedgwick Claims Management Services, Inc. 1.27
Peraton Corp. 1.23
Total Portfolio % 16.07
Credit Exposure (%)
Aaa/AAA 0
Aa/AA 1
A 0
Baa/BBB 5
Ba/BB 24
B 66
Caa/CCC or lower 3
Not Rated 6
Cash & Cash Offsets -5
Credit exposure is the credit ratings for the underlying securities of the Fund as provided by Standard and Poor's (S&P), Moody's Investors Service, or Fitch and typically range from AAA/Aaa (highest) to C/D (lowest). If S&P, Moody's, and Fitch assign different ratings, the median rating is used. If only two agencies assign ratings, the lower rating is used. Securities that are not rated by any of the three agencies are listed as "Not Rated." Ratings do not apply to the Fund itself or to Fund shares. Ratings may change.
Sector Distribution (%)

Exposure Chart Header

FUND
BENCHMARK UNDERWEIGHT / OVERWEIGHT

Exposure Chart Header2

12/31/23 2/29/24 2/29/24 -7 0 7
Other 8 9 2
Financial Institutions 17 16 11
Consumer Cyclical 22 22 18
Communications 14 13 10
Energy 3 3 2
Utilities 0 0 1
Transportation 2 2 4
Technology 17 17 20
Consumer Non-Cyclical 12 11 14
Basic Industry 1 2 5
Capital Goods 8 8 12
Cash, Cash Equivalents and Cash Offsets -5 -5 0
distributions and capital gains
Distribution Date Distribution NAV ordinary income short term capital gains long term capital gains total distribution
2/29/2024 7.77 $0.0517 $0.0000 $0.0000 $0.0517
1/31/2024 7.76 $0.0530 $0.0000 $0.0000 $0.0530
12/29/2023 7.78 $0.0499 $0.0000 $0.0000 $0.0499
12/29/2023 7.78 $0.0445 $0.0000 $0.0000 $0.0445
12/15/2023 7.80 $0.0000 $0.0000 $0.0000 $0.0000
11/30/2023 7.75 $0.0557 $0.0000 $0.0000 $0.0557
10/31/2023 7.70 $0.0542 $0.0000 $0.0000 $0.0542
9/29/2023 7.78 $0.0532 $0.0000 $0.0000 $0.0532
8/31/2023 7.79 $0.0445 $0.0000 $0.0000 $0.0445
7/31/2023 7.77 $0.0551 $0.0000 $0.0000 $0.0551
6/30/2023 7.74 $0.0535 $0.0000 $0.0000 $0.0535
5/31/2023 7.63 $0.0529 $0.0000 $0.0000 $0.0529
4/28/2023 7.67 $0.0520 $0.0000 $0.0000 $0.0520
3/31/2023 7.67 $0.0511 $0.0000 $0.0000 $0.0511
Past distributions are not indicative of future distributions.

Fund Literature


12/31/2023 - PDF (209 KB)
This Fund Fact Sheet summarizes the Fund's investment approach, portfolio statistics, top holdings, and current performance.
12/31/2023 - PDF (335 KB)
This Fund Story outlines three distinguishing characteristics to help investors better understand the Fund.
12/31/2023 - PDF (157 KB)
Current quarterly commentary from our sub-adviser, Wellington Management, which includes a performance review, attribution, statistics, and positioning and outlook for the Fund.
12/31/2023 - PDF (334 KB)
Current quarterly commentary from our sub-adviser, Wellington Management, which includes a performance review, attribution, statistics, and positioning and outlook for the Fund.
PDF (163 KB)
A summary of a fund's full-length prospectus that provides key information potential investors should consider before making an investment decision.
12/31/2023 - PDF (412 KB)
This module provides an overview of Wellington Management Company's Fixed Income resources and capabilities
12/31/2023 - PDF (520 KB)
This Pitchbook reviews the Fund's investment approach, investment team, investment process, and general portfolio parameters.
PDF (2 KB)
An unaudited financial report, which includes a fund's financial statements. These reports are intended for shareholders and others who have reviewed the fund's prospectus.
PDF (13 KB)
A legal document that discloses essential information about a fund, including investment objectives, risks, fees, expenses, fund manager background and other information.
PDF (2 KB)
An audited financial report, which includes a fund's financial statements. These reports are intended for shareholders and others who have reviewed the fund's prospectus.
PDF (13 KB)
A document that supplements the fund's prospectus with additional information about the fund including its operations and risks.
Important Risks: Investing involves risk, including the possible loss of principal. Security prices fluctuate in value depending on general market and economic conditions and the prospects of individual companies. • Loans can be difficult to value and less liquid than other types of debt instruments; they are also subject to nonpayment, collateral, bankruptcy, default, extension, prepayment and insolvency risks. • Fixed income security risks include credit, liquidity, call, duration, event and interest-rate risk. As interest rates rise, bond prices generally fall. • Investments in high-yield ("junk") bonds involve greater risk of price volatility, illiquidity, and default than higher-rated debt securities. • Derivatives are generally more volatile and sensitive to changes in market or economic conditions than other securities; their risks include currency, leverage, liquidity, index, pricing, regulatory and counterparty risk. • Foreign investments may be more volatile and less liquid than U.S. investments and are subject to the risk of currency fluctuations and adverse political, economic and regulatory developments. • The Fund's investments may fluctuate in value over a short period of time. • Financially material environmental, social and/or governance (ESG) characteristics are one of several factors that may be considered and as a result, the investment process may not work as intended.
The Fund should not be considered an alternative to CDs or money market funds. This Fund is intended for investors who are looking to complement their traditional fixed-income investments.
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The material on this site is for informational and educational purposes only. The material should not be considered tax or legal advice and is not to be relied on as a forecast. The material is also not a recommendation or advice regarding any particular security, strategy or product. Hartford Funds does not represent that any products or strategies discussed are appropriate for any particular investor so investors should seek their own professional advice before investing. Hartford Funds does not serve as a fiduciary. Content is current as of the publication date or date indicated, and may be superseded by subsequent market and economic conditions.

Investing involves risk, including the possible loss of principal. Investors should carefully consider a fund's investment objectives, risks, charges and expenses. This and other important information is contained in the mutual fund, or ETF summary prospectus and/or prospectus, which can be obtained from a financial professional and should be read carefully before investing.

Mutual funds are distributed by Hartford Funds Distributors, LLC (HFD), Member FINRA|SIPC. ETFs are distributed by ALPS Distributors, Inc. (ALPS). Advisory services may be provided by Hartford Funds Management Company, LLC (HFMC) or its wholly owned subsidiary, Lattice Strategies LLC (Lattice). Certain funds are sub-advised by Wellington Management Company LLP and/or Schroder Investment Management North America Inc (SIMNA). Schroder Investment Management North America Ltd. (SIMNA Ltd) serves as a secondary sub-adviser to certain funds. HFMC, Lattice, Wellington Management, SIMNA, and SIMNA Ltd. are all SEC registered investment advisers. Hartford Funds refers to HFD, Lattice, and HFMC, which are not affiliated with any sub-adviser or ALPS. The funds and other products referred to on this Site may be offered and sold only to persons in the United States and its territories.

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