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Investment Objective

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

Style Purity

The Fund seeks to provide high current income and long-term total return by typically investing at least 80% in floating-rate loans and securities that are below-investment-grade.

Multiple Drivers of Return Rigorous Core Credit Analysis

Quantitative and qualitative credit analysis are utilized to identify what the sub-adviser consider “Best in Class” companies with leading market share and the ability to generate cash flow.


Diversification by industry and individual company.

Investment Process (4:03)
Portfolio Manager Michael Bacevich

Fund Outlook & Commentary (2:21)
Portfolio Manager Michael Bacevich

Portfolio Management

  • Michael Bacevich

    Michael Bacevich
    Managing Director
    Fixed-Income Portfolio Manager
    Wellington Management
    Professional Experience Since 1988
    BS, U.S. Military Academy
    MBA, University of Chicago

The portfolio manager is supported by the full resources of Wellington Management.

Average Annual Total Returns
(as of 8/31/2015)
Average Annual Total Returns YTD 1YR 3YR 5YR 10YR SI
AT NAV 1.25% -1.16% 2.84% 4.23% 3.54% 3.69%
Benchmark 2.96% 2.29% 4.97% 5.47% 4.67% ---
Peer Group 2.52% 1.24% 4.14% 4.93% 3.71% ---
With 3.0% Max
Sales Charge
--- -4.12% 1.80% 3.60% 3.22% 3.38%
Average Annual Total Returns
(as of )
Average Annual Total Returns YTD 1YR 3YR 5YR 10YR SI
Benchmark 2.87% 2.15% 5.28% 5.75% 4.74% ---
Peer Group 2.48% 1.08% 4.46% 5.24% 3.77% ---

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.

Fund Inception: 4/29/05

Operating Expenses

Net  0.96% |  Gross 0.96%  

Calendar Year Returns
Fund Benchmark Peer Group
2014 -0.26% 2.06% 0.51%
2013 5.07% 6.15% 5.62%
2012 9.16% 9.43% 9.44%
2011 1.59% 1.82% 1.76%
2010 10.41% 9.98% 9.37%
2009 43.61% 44.87% 41.44%
2008 -30.46% -28.75% -30.22%
2007 0.88% 1.88% 1.08%
2006 6.68% 7.33% 6.61%
2005 --- --- ---

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

Growth of $10,000

(as of 7/31/2015)


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

A-Share Morningstar Ratings
(as of 7/31/2015)
Overall ---
3 year 195
5 year 125
10 year 54

Past performance is no guarantee of future results. Morningstar ratings reflect historical risk-adjusted performance as of July 31, 2015 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.
Holdings Characteristics(as of 7/31/2015)
Holdings Characteristics Fund
% in Bank Loans 86.88
Average Days to Reset 52
Bank Loan Average Price $95.50
Effective Duration 0.35 yrs.
Years To Worst 4.90 yrs.

Loan Exposure

(as of 7/31/2015)
label currentpercentage
Manufacturing 7%
Energy 6%
Forest Prod/Containers 4%
Consumer Durables 1%
Financials 4%
Food And Drug 2%
Housing 3%
Metals/Minerals 3%
Service 14%
Chemicals 4%
Multiple Utilities 4%
Consumer Non-Durables 1%
Gaming/Leisure 5%
Retail 5%
Aerospace 1%
Food/Tobacco 3%
Healthcare 11%
Information Technology 7%
Media/Telecom 13%
Transportation 2%

Top Ten Issuers (%)

(as of 7/31/2015)
label percentageholding
Calpine Corp. 1.71
Level 3 Financing, Inc. 1.53
Delta 2 1.36
Gardner Denver, Inc. 1.29
First Data Corp. 1.22
Sedgwick Claims Management Services, Inc. 1.21
Univision Communications, Inc. 1.20
Asurion LLC 1.03
PetSmart, Inc. 0.97
Freescale Semiconductor, Inc. 0.93
(as of 6/30/2015)
label percentageholding
Calpine Corp. 1.66
Level 3 Financing, Inc. 1.49
First Data Corp. 1.45
Delta 2 1.33
Gardner Denver, Inc. 1.28
Univision Communications, Inc. 1.23
Sedgwick Claims Management Services, Inc. 1.18
SS&C Technologies Holdings, Inc. 1.04
Asurion LLC 1.01
PetSmart, Inc. 0.94

Credit Exposure*

(as of 7/31/2015)
label value
Baa/BBB 0.4%
Ba/BB 26.2%
B 58.3%
Caa/CCC or lower 8.6%
Not Rated 4.2%
Cash & Cash Offsets 2.3%

Credit exposure is the credit ratings for the underlying securities of the Fund as provided by Standard and Poor's or Moody's Investors Service and typically range from AAA/Aaa (highest) to C/D (lowest). If Moody's and S&P assign different ratings, the lower rating is used. Securities that are not rated by either agency are listed as "Not Rated." Ratings do not apply to the Fund itself or to Fund shares. Ratings may change.

Distributions and Capital Gains
Distribution Date Distribution NAV Long-Term Capital Gain Short-Term Capital Gain Return of Capital Dividend Income Distribution Total
7/31/2015 8.66 0.0000 0.0000 --- 0.0299 0.0299
6/30/2015 8.71 0.0000 0.0000 0.0000 0.0292 0.0292
5/31/2015 8.79 0.0000 0.0000 0.0000 0.0297 0.0297
4/30/2015 8.81 0.0000 0.0000 0.0000 0.0294 0.0294
3/31/2015 8.74 0.0000 0.0000 0.0000 0.0293 0.0293
2/27/2015 8.75 0.0000 0.0000 0.0000 0.0297 0.0297
1/30/2015 8.62 0.0000 0.0000 0.0000 0.0328 0.0328
12/31/2014 8.66 0.0000 0.0000 0.0000 0.0382 0.0382
11/28/2014 8.87 0.0000 0.0000 0.0000 0.0297 0.0297
10/31/2014 8.88 0.0000 0.0000 0.0000 0.0294 0.0294
9/30/2014 8.88 0.0000 0.0000 0.0000 0.0296 0.0296
8/29/2014 9.00 0.0000 0.0000 0.0000 0.0295 0.0295

Past Dividend Distributions are not indicative of future results.

Fixed Income Outlook 3Q15: Are Credit-Sector Signals Flashing Green, Yellow, or Red?

Many credit-sensitive fixed income sectors are well-positioned to deliver excess returns, but others are showing early signs of stress and may warrant more defensive posturing.

Bank Loans Stand Out Among High-Income Opportunities

Among high income-generating sectors, bank loans currently stand out because of their attractive spread levels and propensity to protect principal better than high yield during periods of market stress.

Fixed Income Outlook 2Q15: The Longest Tease: The Fed Is Really Preparing to Tighten

A strong US labor market warrants tighter monetary policy. Here’s why the Fed could soon embark on rate normalization as long as it’s confident that price rises are trending toward its target.

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Fixed-Income Risk: The Fund is subject to interest-rate risk (the risk that the value of an investment decreases when interest rates rise), credit risk (the risk that the issuing company of a security is unable to pay interest and principal when due), liquidity risk (the risk that an investment may be difficult to sell at an advantageous time or price), and call risk (the risk that an investment may be redeemed early).

Foreign Investment Risk: Investments in foreign securities may be riskier than investments in U.S. securities. Potential risks include the risks of illiquidity, increased price volatility, less government regulation, less extensive and less frequent accounting and other reporting requirements, unfavorable changes in currency exchange rates, and economic and political disruptions.

Junk-Bond Risk: Investments in junk bonds involve greater risk of price volatility, illiquidity, and default than higher-rated debt securities.

Loan Risk: The Fund’s investments in loans may at times become difficult to value and highly illiquid; they are subject to credit risk such as nonpayment of principal or interest, and risks of bankruptcy and insolvency.

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.

Floating Rate Fund should not be considered an alternative to CDs or money market funds. This Fund is for investors who are looking to complement their traditional fixed-income investments.

Unsubsidized 30-Day SEC Yield is the Fund’s 30-Day SEC yield without the impact of fee/expense waivers.

30-Day SEC Yield represents the hypothetical net investment income earned by the fund over a 30-day period, expressed as an annual percentage rate based on the fund’s share price at the end of the 30-day period. This hypothetical income will differ (at times significantly) from the fund’s actual experience; income distributions from the fund may be higher or lower than implied by the SEC yield.

Average Days to Reset is the average number of days before the portfolio’s bank loans change their interest rate to match their reference rate, typically LIBOR.

Distribution Yield at NAV is calculated by annualizing the distribution for the current period and dividing by the NAV. The Fund's distribution may be comprised of ordinary income and/or returns of capital. The distribution yield is not indicative of current or future fund performance.

Effective Duration is a measure of the sensitivity of an asset or portfolio’s price to nominal interest rate movement.

Years to Worst is the average time until the earliest date when the principal of the bond can be repaid.

Trailing 12 Month Yield is the sum of the Fund’s distributions over the past 12 months divided by the current NAV. The Fund's distribution may be comprised of ordinary income and/or returns of capital. The trailing 12 month yield is not indicative of current or future fund performance.


Effective September 30, 2009, Class B shares of The Hartford Funds closed to new investors, and no new or additional investments, including investments through a systematic investment plan, will be allowed in Class B shares, except for permitted exchanges. For additional information about your privileges with respect to Class B shares, please refer to your prospectus and its supplements.

All mutual funds are subject to risk, including possible loss of principal. This material must be preceded or accompanied by a current prospectus, which contains detailed information about the Fund, including investment objectives, risks, charges, and fees. Investors should read it carefully before investing.