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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.

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

Diversification by industry and individual company.

 

 
Investment Process (2:39)
Portfolio Manager Michael Bacevich
  Fund Outlook & Commentary (2:43)
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

    VIEW BIO

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

Average Annual Total Returns
(as of 4/30/2016)
Average Annual Total Returns YTD 1YR 3YR 5YR 10YR SI
AT NAV 3.94% -1.39% 1.21% 2.83% 3.19% 3.50%
Benchmark 3.25% -0.13% 2.61% 3.75% 4.15% ---
Peer Group 3.22% -0.91% 1.66% 3.18% 3.19% ---
With 3.0% Max
Sales Charge
--- -4.35% 0.19% 2.21% 2.87% 3.22%
Average Annual Total Returns
(as of 3/31/2016)
Average Annual Total Returns YTD 1YR 3YR 5YR 10YR SI
AT NAV 1.47% -2.63% 0.61% 2.48% 3.00% 3.30%
Benchmark 1.33% -1.11% 2.22% 3.49% 4.01% ---
Peer Group 1.28% -1.91% 1.26% 2.92% 3.05% ---
With 3.0% Max
Sales Charge
--- -5.56% -0.41% 1.86% 2.69% 3.01%

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  0.99% |  Gross 0.99%  
 

Calendar Year Returns
Fund Benchmark Peer Group
2015 -2.14% -0.38% -1.32%
2014 -0.26% 2.06% 0.58%
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%

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

Growth of $10,000

(as of 3/31/2016)
[{"date":"2016/03/31","value":"13441"},{"date":"2016/02/29","value":"12998"},{"date":"2016/01/31","value":"13066"},{"date":"2015/12/31","value":"13245"},{"date":"2015/11/30","value":"13440"},{"date":"2015/10/31","value":"13604"},{"date":"2015/09/30","value":"13604"},{"date":"2015/08/31","value":"13704"},{"date":"2015/07/31","value":"13864"},{"date":"2015/06/30","value":"13896"},{"date":"2015/05/31","value":"13977"},{"date":"2015/04/30","value":"13961"},{"date":"2015/03/31","value":"13804"},{"date":"2015/02/28","value":"13774"},{"date":"2015/01/31","value":"13523"},{"date":"2014/12/31","value":"13535"},{"date":"2014/11/30","value":"13802"},{"date":"2014/10/31","value":"13769"},{"date":"2014/09/30","value":"13726"},{"date":"2014/08/31","value":"13864"},{"date":"2014/07/31","value":"13820"},{"date":"2014/06/30","value":"13853"},{"date":"2014/05/31","value":"13781"},{"date":"2014/04/30","value":"13693"},{"date":"2014/03/31","value":"13697"},{"date":"2014/02/28","value":"13650"},{"date":"2014/01/31","value":"13641"},{"date":"2013/12/31","value":"13569"},{"date":"2013/11/30","value":"13509"},{"date":"2013/10/31","value":"13453"},{"date":"2013/09/30","value":"13336"},{"date":"2013/08/31","value":"13304"},{"date":"2013/07/31","value":"13334"},{"date":"2013/06/30","value":"13169"},{"date":"2013/05/31","value":"13274"},{"date":"2013/04/30","value":"13278"},{"date":"2013/03/31","value":"13199"},{"date":"2013/02/28","value":"13067"},{"date":"2013/01/31","value":"13050"},{"date":"2012/12/31","value":"12913"},{"date":"2012/11/30","value":"12832"},{"date":"2012/10/31","value":"12802"},{"date":"2012/09/30","value":"12751"},{"date":"2012/08/31","value":"12598"},{"date":"2012/07/31","value":"12496"},{"date":"2012/06/30","value":"12389"},{"date":"2012/05/31","value":"12284"},{"date":"2012/04/30","value":"12413"},{"date":"2012/03/31","value":"12306"},{"date":"2012/02/29","value":"12216"},{"date":"2012/01/31","value":"12086"},{"date":"2011/12/31","value":"11827"},{"date":"2011/11/30","value":"11740"},{"date":"2011/10/31","value":"11801"},{"date":"2011/09/30","value":"11410"},{"date":"2011/08/31","value":"11381"},{"date":"2011/07/31","value":"11941"},{"date":"2011/06/30","value":"11906"},{"date":"2011/05/31","value":"11967"},{"date":"2011/04/30","value":"11974"},{"date":"2011/03/31","value":"11891"},{"date":"2011/02/28","value":"11883"},{"date":"2011/01/31","value":"11851"},{"date":"2010/12/31","value":"11642"},{"date":"2010/11/30","value":"11516"},{"date":"2010/10/31","value":"11468"},{"date":"2010/09/30","value":"11290"},{"date":"2010/08/31","value":"11138"},{"date":"2010/07/31","value":"11085"},{"date":"2010/06/30","value":"10858"},{"date":"2010/05/31","value":"10886"},{"date":"2010/04/30","value":"11175"},{"date":"2010/03/31","value":"11016"},{"date":"2010/02/28","value":"10766"},{"date":"2010/01/31","value":"10720"},{"date":"2009/12/31","value":"10543"},{"date":"2009/11/30","value":"10277"},{"date":"2009/10/31","value":"10240"},{"date":"2009/09/30","value":"10150"},{"date":"2009/08/31","value":"9894"},{"date":"2009/07/31","value":"9700"},{"date":"2009/06/30","value":"9405"},{"date":"2009/05/31","value":"9121"},{"date":"2009/04/30","value":"8745"},{"date":"2009/03/31","value":"8108"},{"date":"2009/02/28","value":"8035"},{"date":"2009/01/31","value":"7853"},{"date":"2008/12/31","value":"7342"},{"date":"2008/11/30","value":"7711"},{"date":"2008/10/31","value":"8280"},{"date":"2008/09/30","value":"9755"},{"date":"2008/08/31","value":"10296"},{"date":"2008/07/31","value":"10312"},{"date":"2008/06/30","value":"10416"},{"date":"2008/05/31","value":"10415"},{"date":"2008/04/30","value":"10292"},{"date":"2008/03/31","value":"9943"},{"date":"2008/02/29","value":"9938"},{"date":"2008/01/31","value":"10221"},{"date":"2007/12/31","value":"10559"},{"date":"2007/11/30","value":"10542"},{"date":"2007/10/31","value":"10717"},{"date":"2007/09/30","value":"10626"},{"date":"2007/08/31","value":"10422"},{"date":"2007/07/31","value":"10421"},{"date":"2007/06/30","value":"10819"},{"date":"2007/05/31","value":"10803"},{"date":"2007/04/30","value":"10743"},{"date":"2007/03/31","value":"10682"},{"date":"2007/02/28","value":"10645"},{"date":"2007/01/31","value":"10569"},{"date":"2006/12/31","value":"10468"},{"date":"2006/11/30","value":"10410"},{"date":"2006/10/31","value":"10351"},{"date":"2006/09/30","value":"10283"},{"date":"2006/08/31","value":"10237"},{"date":"2006/07/31","value":"10161"},{"date":"2006/06/30","value":"10107"},{"date":"2006/05/31","value":"10083"},{"date":"2006/04/30","value":"10061"},{"date":"2006/03/31","value":"10000"}]

 

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


A-Share Morningstar Ratings
(as of 3/31/2016)
Morning Star Rating LOAD WAIVED CATEGORY SIZE
Overall ---
3 year 212
5 year 151
10 year 63

Past performance is no guarantee of future results. Morningstar ratings reflect historical risk-adjusted performance as of March 31, 2016 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 3/31/2016)
Holdings Characteristics Fund
% in Bank Loans 86.59
Average Days to Reset 51
Bank Loan Average Price $90.13
Effective Duration 0.28 yrs.

Loan Exposure

(as of 3/31/2016)
label currentpercentage
Food and Beverage 6%
Consumer Cyclical Services 8%
Energy 5%
Other Industrial 4%
Consumer Products 2%
Environmental 0%
Gaming 5%
Healthcare 9%
Packaging 3%
Supermarkets 2%
Wirelines 3%
Chemicals 4%
Construction Machinery 1%
Financial Institutions 7%
Metal/Mining 2%
Utilities 2%
Wireless 1%
Automotive 0%
Building Materials 1%
Cable and Satellite 3%
Diversified Manufacturing 2%
Leisure 1%
Lodging 0%
Media and Entertainment 5%
Other High Yield 0%
Pharmaceuticals 3%
Technology 11%
Transportation 1%
Aerospace/Defense 0%
Retail 5%

Top Ten Issuers (%)

(as of 3/31/2016)
label percentageholding
First Data Corp. 2.10
Level 3 Financing, Inc. 1.89
JBS USA LLC 1.80
Calpine Corp. 1.50
Sedgwick Claims Management Services, Inc. 1.25
Brickman Group Ltd. 1.22
Delta 2 1.22
Albertsons LLC 1.17
Virgin Media Investment Holdings Ltd. 1.16
Chemours Co. 1.13
Total Portfolio % 14.44
(as of 12/31/2015)
label percentageholding
First Data Corp. 2.08
U.S. Renal Care, Inc. 1.84
Level 3 Financing, Inc. 1.75
JBS USA LLC 1.69
Avago Technologies Cayman Ltd. 1.41
Delta 2 1.29
Univision Communications, Inc. 1.22
Sedgwick Claims Management Services, Inc. 1.20
Brickman Group Ltd. 1.19
Gardner Denver, Inc. 1.18
Total Portfolio % 14.85

Credit Exposure

(as of 3/31/2016)
label value
Baa/BBB 1.2%
Ba/BB 30.6%
B 49.9%
Caa/CCC or lower 10.2%
Not Rated 2.6%
Cash & Cash Offsets 5.6%

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
3/31/2016 8.16 0.0000 0.0000 --- 0.0299 0.0299
2/29/2016 7.92 0.0000 0.0000 0.0000 0.0284 0.0284
1/29/2016 7.99 0.0000 0.0000 0.0000 0.0297 0.0297
12/31/2015 8.13 0.0000 0.0000 0.0000 0.0301 0.0301
11/30/2015 8.28 0.0000 0.0000 0.0000 0.0286 0.0286
10/31/2015 8.41 0.0000 0.0000 0.0000 0.0300 0.0300
9/30/2015 8.44 0.0000 0.0000 0.0000 0.0281 0.0281
8/31/2015 8.53 0.0000 0.0000 0.0000 0.0299 0.0299
7/31/2015 8.66 0.0000 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

Past Dividend Distributions are not indicative of future results.

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04/27/2016
2Q 2016 Outlooks

Thought leaders from Wellington Management provide their outlooks on the risks and opportunities available in equities, fixed income, commodities, and asset allocation as we head into the second quarter of 2016.

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03/09/2016
Bank Loans: Valuations Compelling, but Defensive Posture Warranted

Learn more about current opportunities for bank loans, and why the portfolio manager for Floating Rate Fund and Floating Rate High Income Fund has a positive outlook for this sector.

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12/16/2015
Rising Rates, Rising Equities?

Like gadget enthusiasts waiting for a new smartphone release, we've waited for the Fed to finally raise interest rates. And if this tightening cycle moves as gradually as expected, it could be beneficial for stocks.

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VIEW ALL LITERATURE

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Literature
All investments are subject to risk, including the possible loss of principal. There is no guarantee the Fund will achieve its stated objective. The Fund’s share price may fluctuate due to market risk and/or security selections that may underperform the market or relevant benchmarks. Fixed Income risks include credit, liquidity, call, duration, 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. Bank loans can be difficult to value and highly illiquid; they are subject to credit risk, bankruptcy risk, and insolvency. Foreign investments can be riskier than U.S. investments due to the adverse effects of currency exchange rates, differences in market structure and liquidity, as well as specific country, regional, and economic developments.
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.
 

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.

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