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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
3
YRS
MANAGING THIS FUND
17
YRS
AT WELLINGTON MANAGEMENT
26
YRS
EXPERIENCE IN THIS INDUSTRY
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
Performance
PERFORMANCE %
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.
©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.
©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.
©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.
©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 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 (%)
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 (%)
FUND |
BENCHMARK | UNDERWEIGHT / OVERWEIGHT | |||||
|---|---|---|---|---|---|---|---|
| 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.
Insights
Fund Literature
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.
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.
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.
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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