• Products

    World Bond Fund Monthly Positioning & Outlook

    View Now >

  • Insights

    Human-Centric Investing Podcast

    Listen to Latest Episode >

  • Practice Management

    Applied Insights Team

    Learn More >

  • Resources

    Tax Center

    View Now >

  • About Us

    Human-Centric Investing

    Learn More >

Taxable Bond fund

Hartford Floating Rate Fund    Share Class - I (HFLIX)


MORNINGSTAR RATING:
Overall, 4 stars, 3-Year, 3 stars, 5-Year, 4 stars, and 10-Year, 4 stars, rated against 229, 229, 207 and 123 products, respectively. Morningstar RatingTM is calculated for products with at least a 3-year history, based on a risk-adjusted return measure (excluding any applicable sale charges) and accounts for variations in a product's monthly performance. 5 stars are assigned to the top 10%; 4 stars to the next 22.5%, 3 stars to the next 35%, 2 stars to the next 22.5% and 1 star to the bottom 10%. ETFs and mutual funds are considered a single population. The Overall Rating is derived from a weighted average of the performance figures associated with its 3-, 5-, and 10-year (if applicable) Morningstar Rating metrics. For more information about these ratings, including their methodology, please go to global.morningstar.com/managerdisclosures . Ratings for other share classes may vary and are subject to change monthly. Past performance is no guarantee of future performance.
©2021 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/ or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.
overall (as of 8/31/2021)
229 PRODUCTS
Bank Loan Category
Based on Risk-Adjusted Returns

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.


A Hedge Against Rising Rates

The prices of traditional bonds generally drop as interest rates rise. This happens because as new bonds are issued at higher rates, existing bonds with lower rates become less attractive to investors, causing them to drop in value.

The Fund invests in bank loans that adjust their interest rates every 30, 60, or 90 days, so they may be less affected by rising interest rates.

Attractive Yield and Diversification

The Fund may offer a higher yield than, and low correlation to, traditional bonds; it may add an extra layer of income and diversification to your fixed-income portfolio.

Experienced Management

Bank loans are a smaller asset class than many other types of bonds, which makes them difficult for individual investors to access. The Fund’s management team averages over 25 years of investment experience and is backed by the full resources of sub-adviser Wellington Management.

Portfolio Management
Managing Director
Fixed-Income Portfolio Manager
3
YRS
MANAGING THIS FUND
17
YRS
AT WELLINGTON MANAGEMENT
26
YRS
EXPERIENCE IN THIS INDUSTRY
Managing Director
Fixed-Income Portfolio Manager
3
YRS
MANAGING THIS FUND
20
YRS
AT WELLINGTON MANAGEMENT
32
YRS
EXPERIENCE IN THIS INDUSTRY

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

FUND PROCESS VIDEO
Hartford Floating Rate Fund Process Video


David Marshak

Managing Director, Fixed-Income Portfolio Manager

play David Marshak video

Performance

PERFORMANCE %
 
CUMULATIVE %
(as of 8/31/2021)
AVERAGE ANNUAL TOTAL RETURNS %
(as of 8/31/2021)
YTD 1YR 3YR 5YR 10YR SI
Hartford Floating Rate I 3.18 7.12 3.17 4.22 4.49 4.00
Benchmark 3.76 8.39 4.16 4.63 4.89 ---
Morningstar Bank Loan Category 3.26 7.22 2.99 3.56 3.97 ---
 
CUMULATIVE %
(as of 6/30/2021)
AVERAGE ANNUAL TOTAL RETURNS %
(as of 6/30/2021)
YTD 1YR 3YR 5YR 10YR SI
Hartford Floating Rate I 3.15 10.62 3.62 4.72 4.02 4.04
Benchmark 3.28 11.65 4.40 4.99 4.39 ---
Morningstar Bank Loan Category 2.87 10.15 3.23 3.90 3.49 ---

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

Share Class Inception: 8/31/06.
Class I-share performance prior to its inception date reflects Class A-share performance (excluding sales charges) and operating expenses. SI performance is calculated from 4/29/05.

Hartford Floating Rate Fund I Share Morningstar Ratings
overall
(as of 8/31/2021)
Overall, 4 stars, 3-Year, 3 stars, 5-Year, 4 stars, and 10-Year, 4 stars, rated against 229, 229, 207 and 123 products, respectively. Morningstar RatingTM is calculated for products with at least a 3-year history, based on a risk-adjusted return measure (excluding any applicable sale charges) and accounts for variations in a product's monthly performance. 5 stars are assigned to the top 10%; 4 stars to the next 22.5%, 3 stars to the next 35%, 2 stars to the next 22.5% and 1 star to the bottom 10%. ETFs and mutual funds are considered a single population. The Overall Rating is derived from a weighted average of the performance figures associated with its 3-, 5-, and 10-year (if applicable) Morningstar Rating metrics. For more information about these ratings, including their methodology, please go to global.morningstar.com/managerdisclosures . Ratings for other share classes may vary and are subject to change monthly. Past performance is no guarantee of future performance.
©2021 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/ or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

229 PRODUCTS
|
Bank Loan Category
Based on Risk-Adjusted Returns
3 YEAR
(as of 8/31/2021)
Overall, 4 stars, 3-Year, 3 stars, 5-Year, 4 stars, and 10-Year, 4 stars, rated against 229, 229, 207 and 123 products, respectively. Morningstar RatingTM is calculated for products with at least a 3-year history, based on a risk-adjusted return measure (excluding any applicable sale charges) and accounts for variations in a product's monthly performance. 5 stars are assigned to the top 10%; 4 stars to the next 22.5%, 3 stars to the next 35%, 2 stars to the next 22.5% and 1 star to the bottom 10%. ETFs and mutual funds are considered a single population. The Overall Rating is derived from a weighted average of the performance figures associated with its 3-, 5-, and 10-year (if applicable) Morningstar Rating metrics. For more information about these ratings, including their methodology, please go to global.morningstar.com/managerdisclosures . Ratings for other share classes may vary and are subject to change monthly. Past performance is no guarantee of future performance.
©2021 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/ or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

229 PRODUCTS
|
Bank Loan Category
Based on Risk-Adjusted Returns
5 YEAR
(as of 8/31/2021)
Overall, 4 stars, 3-Year, 3 stars, 5-Year, 4 stars, and 10-Year, 4 stars, rated against 229, 229, 207 and 123 products, respectively. Morningstar RatingTM is calculated for products with at least a 3-year history, based on a risk-adjusted return measure (excluding any applicable sale charges) and accounts for variations in a product's monthly performance. 5 stars are assigned to the top 10%; 4 stars to the next 22.5%, 3 stars to the next 35%, 2 stars to the next 22.5% and 1 star to the bottom 10%. ETFs and mutual funds are considered a single population. The Overall Rating is derived from a weighted average of the performance figures associated with its 3-, 5-, and 10-year (if applicable) Morningstar Rating metrics. For more information about these ratings, including their methodology, please go to global.morningstar.com/managerdisclosures . Ratings for other share classes may vary and are subject to change monthly. Past performance is no guarantee of future performance.
©2021 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/ or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

207 PRODUCTS
|
Bank Loan Category
Based on Risk-Adjusted Returns
10 YEAR
(as of 8/31/2021)
Overall, 4 stars, 3-Year, 3 stars, 5-Year, 4 stars, and 10-Year, 4 stars, rated against 229, 229, 207 and 123 products, respectively. Morningstar RatingTM is calculated for products with at least a 3-year history, based on a risk-adjusted return measure (excluding any applicable sale charges) and accounts for variations in a product's monthly performance. 5 stars are assigned to the top 10%; 4 stars to the next 22.5%, 3 stars to the next 35%, 2 stars to the next 22.5% and 1 star to the bottom 10%. ETFs and mutual funds are considered a single population. The Overall Rating is derived from a weighted average of the performance figures associated with its 3-, 5-, and 10-year (if applicable) Morningstar Rating metrics. For more information about these ratings, including their methodology, please go to global.morningstar.com/managerdisclosures . Ratings for other share classes may vary and are subject to change monthly. Past performance is no guarantee of future performance.
©2021 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/ or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

123 PRODUCTS
|
Bank Loan Category
Based on Risk-Adjusted Returns
Excludes sales charges. If sales charges and taxes had been included, the value would have been lower.

Characteristics

FUND ESSENTIALS
Inception Date 04/29/2005
Net Assets $2.0 billion
Total Operating Expenses 0.75%
Morningstar Category Bank Loan
Lipper Classification Loan Participation Funds
CUSIP 416649804
Fund Number 1308
FUND STATS
Dividend Frequency
Monthly
# of Issuers
227
# of Holdings
313
Holdings Characteristics
Average Bank Loan Price
$97.21
Effective Duration
0.25 yrs
% in Bank Loans
95
Yields (%) (as of 8/31/21)
Distribution Yield at NAV
3.01
30-Day SEC Yield
3.00
Unsubsidized 30-Day SEC Yield
3.00
Top Ten Issuers (%)
Asurion LLC 1.90
Staples, Inc. 1.79
Caesars Resort Collection LLC 1.59
Froneri International Ltd. 1.55
Aramark Services, Inc. 1.49
Brand Energy & Infrastructure Services, Inc. 1.46
Belron Finance U.S. LLC 1.43
Flex Acquisition Co., Inc. 1.42
Verisure Holding AB 1.41
Crown Finance U.S., Inc. 1.38
Total Portfolio % 15.42
APX Group, Inc. 1.81
Staples, Inc. 1.81
Froneri International Ltd. 1.55
Crown Finance U.S., Inc. 1.50
Aramark Services, Inc. 1.49
Asurion LLC 1.49
Brand Energy & Infrastructure Services, Inc. 1.47
Caesars Resort Collection LLC 1.47
DCert Buyer, Inc. 1.40
Invesco Senior Loan ETF 1.38
Total Portfolio % 15.37
Credit Exposure (%)
Aaa/AAA 0
Aa/AA 0
A 0
Baa/BBB 3
Ba/BB 22
B 64
Caa/CCC or lower 6
Not Rated 7
Cash & Cash Offsets -2
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

6/30/21 7/31/21 7/31/21 -7 0 7
Consumer Cyclical 27 27 20
Consumer Non-Cyclical 19 20 15
Communications 12 15 13
Energy 3 3 2
Financial Institutions 6 7 7
Transportation 2 3 3
Capital Goods 8 9 10
Other 6 6 7
Basic Industry 1 2 4
Utilities 0 0 2
Cash, Cash Equivalents and Cash Offsets 2 -2 0
Technology 12 11 17
distributions and capital gains
Distribution Date Distribution NAV ordinary income short term capital gains long term capital gains total distribution
8/2/2021 8.35 $0.0216 $0.0000 $0.0000 $0.0216
7/1/2021 8.39 $0.0213 $0.0000 $0.0000 $0.0213
6/1/2021 8.39 $0.0296 $0.0000 $0.0000 $0.0296
5/3/2021 8.37 $0.0209 $0.0000 $0.0000 $0.0209
4/1/2021 8.35 $0.0204 $0.0000 $0.0000 $0.0204
3/1/2021 8.36 $0.0200 $0.0000 $0.0000 $0.0200
2/1/2021 8.32 $0.0270 $0.0000 $0.0000 $0.0270
1/4/2021 8.27 $0.0245 $0.0000 $0.0000 $0.0245
12/30/2020 8.26 $0.0222 $0.0000 $0.0000 $0.0222
12/18/2020 8.28 $0.0000 $0.0000 $0.0000 $0.0000
12/1/2020 8.22 $0.0227 $0.0000 $0.0000 $0.0227
11/2/2020 8.03 $0.0237 $0.0000 $0.0000 $0.0237
10/1/2020 8.08 $0.0237 $0.0000 $0.0000 $0.0237
9/1/2020 8.08 $0.0245 $0.0000 $0.0000 $0.0245
Past distributions are not indicative of future distributions.

Fund Literature


07/22/2021 - PDF (353 KB)
This Fund Fact Sheet summarizes the Fund's investment approach, portfolio statistics, top holdings, and current performance.
06/30/2021 - PDF (656 KB)
This Fund Story outlines three distinguishing characteristics to help investors better understand the Fund.
06/30/2021 - PDF (220 KB)
Current quarterly commentary from our sub-adviser, Wellington Management, which includes a performance review, attribution, statistics, and positioning and outlook for the Fund.
08/02/2021 - PDF (711 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 (146 KB)
A summary of a fund's full-length prospectus that provides key information potential investors should consider before making an investment decision.
06/30/2021 - PDF (391 KB)
This module provides an overview of Wellington Management Company's Fixed Income resources and capabilities
06/30/2021 - PDF (501 KB)
This Pitchbook reviews the Funds' 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.
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.

 

223730

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, ETF or closed-end interval fund prospectus or summary prospectus, which can be obtained from a financial professional and should be read carefully before investing.

Mutual funds and the closed-end interval fund are distributed by Hartford Funds Distributors, LLC (HFD), Member FINRA/SIPC. Exchange-traded products 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. Schroder Investment Management North America Ltd. serves as a secondary sub-adviser to certain funds. Hartford Funds refers to Hartford Funds Management Group, Inc. and its subsidiaries, including HFD, HFMC, and Lattice, 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.

© Copyright 2021 Hartford Funds Management Group, Inc. All Rights Reserved. Not FDIC Insured | No Bank Guarantee | May Lose Value