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Hartford Floating Rate High Income Fund

Explore Another ETFs

Objective

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

Overview

A fund that typically invests in U.S. bank loans, global bank loans, and high-yield debt.

More About Floating Rate High Income 

Performance

Performance (%)
% (as of 3/31/2017)
Average Annual Total Returns % (as of 3/31/2017)
YTD 1YR 3YR 5YR 10YR SI
Hartford Floating Rate High Income  I 1.79 13.82 3.12 4.90 --- 5.85
Benchmark 1.20 9.74 3.72 4.88 --- ---
Morningstar Bank Loan Category 0.97 8.87 2.74 4.05 --- ---
Performance (%)
% (as of 3/31/2017)
Average Annual Total Returns % (as of 3/31/2017)
YTD 1YR 3YR 5YR 10YR SI
Hartford Floating Rate High Income  I 1.79 13.82 3.12 4.90 --- 5.85
Benchmark 1.20 9.74 3.72 4.88 --- ---
Morningstar Bank Loan Category 0.97 8.87 2.74 4.05 --- ---
SI = Since Inception. Fund Inception: 09/30/2011
Operating Expenses:   Net  0.82% |  Gross  0.91%

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.

Growth of $10,000

(as of 3/31/2017)
[{"date":"2017/03/31","value":"13473"},{"date":"2017/02/28","value":"13472"},{"date":"2017/01/31","value":"13354"},{"date":"2016/12/31","value":"13244"},{"date":"2016/11/30","value":"13044"},{"date":"2016/10/31","value":"13029"},{"date":"2016/09/30","value":"12894"},{"date":"2016/08/31","value":"12752"},{"date":"2016/07/31","value":"12620"},{"date":"2016/06/30","value":"12411"},{"date":"2016/05/31","value":"12385"},{"date":"2016/04/30","value":"12265"},{"date":"2016/03/31","value":"11865"},{"date":"2016/02/29","value":"11438"},{"date":"2016/01/31","value":"11461"},{"date":"2015/12/31","value":"11686"},{"date":"2015/11/30","value":"11910"},{"date":"2015/10/31","value":"12085"},{"date":"2015/09/30","value":"12083"},{"date":"2015/08/31","value":"12222"},{"date":"2015/07/31","value":"12420"},{"date":"2015/06/30","value":"12470"},{"date":"2015/05/31","value":"12581"},{"date":"2015/04/30","value":"12546"},{"date":"2015/03/31","value":"12362"},{"date":"2015/02/28","value":"12311"},{"date":"2015/01/31","value":"12067"},{"date":"2014/12/31","value":"12135"},{"date":"2014/11/30","value":"12450"},{"date":"2014/10/31","value":"12459"},{"date":"2014/09/30","value":"12450"},{"date":"2014/08/31","value":"12601"},{"date":"2014/07/31","value":"12554"},{"date":"2014/06/30","value":"12592"},{"date":"2014/05/31","value":"12501"},{"date":"2014/04/30","value":"12411"},{"date":"2014/03/31","value":"12379"},{"date":"2014/02/28","value":"12330"},{"date":"2014/01/31","value":"12268"},{"date":"2013/12/31","value":"12192"},{"date":"2013/11/30","value":"12123"},{"date":"2013/10/31","value":"12069"},{"date":"2013/09/30","value":"11935"},{"date":"2013/08/31","value":"11889"},{"date":"2013/07/31","value":"11923"},{"date":"2013/06/30","value":"11742"},{"date":"2013/05/31","value":"11871"},{"date":"2013/04/30","value":"11877"},{"date":"2013/03/31","value":"11744"},{"date":"2013/02/28","value":"11616"},{"date":"2013/01/31","value":"11581"},{"date":"2012/12/31","value":"11417"},{"date":"2012/11/30","value":"11329"},{"date":"2012/10/31","value":"11302"},{"date":"2012/09/30","value":"11230"},{"date":"2012/08/31","value":"11078"},{"date":"2012/07/31","value":"10946"},{"date":"2012/06/30","value":"10865"},{"date":"2012/05/31","value":"10744"},{"date":"2012/04/30","value":"10857"},{"date":"2012/03/31","value":"10751"},{"date":"2012/02/29","value":"10666"},{"date":"2012/01/31","value":"10510"},{"date":"2011/12/31","value":"10294"},{"date":"2011/11/30","value":"10201"},{"date":"2011/10/31","value":"10225"},{"date":"2011/09/30","value":"10000"}]

 
Growth of $10,000

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

I-Share Morningstar Ratings
(as of 3/31/2017)
  • Overall
    infoIcon:
  • Overall Morningstar Rating for Floating Rate High Income Fund, Class I, as of 3/31/2017 out of 206 products in the Bank Loan Category Based on Risk-Adjusted Returns
Calendar Year Returns (%)
Fund Benchmark
2016 13.60 9.88
2015 -3.45 -0.38
2014 -0.23 2.06
2013 7.14 6.15
2012 11.15 9.43
2011 --- ---
2010 --- ---
2009 --- ---
2008 --- ---
2007 --- ---

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

Characteristics Holdings are subject to change. Percentages may be rounded.

Statistics
As of Date 3/31/2017
Net Assets $480 million
# of Holdings 286
Turnover (3/31/2017) 78%
Dividend Frequency Monthly
Holdings Characteristics
(as of 3/31/2017)
Fund
% in Bank Loans 82.37
Average Days to Reset 37
Bank Loan Average Price $98.06
Effective Duration 0.61 yrs.
Yields
As of Date 3/31/2017
Distribution Yield at NAV 3.89%
Trailing 12 Month Yield 4.60%
30 Day SEC Yield 3.83%
Unsubsidized 30-Day SEC Yield 3.78%
Fund Essentials
Inception Date 09/30/2011
Symbol HFHIX
CUSIP 41664M151
Fund Number 1038

Top Ten Issuers (%)

(as of 3/31/2017)
label percentageholding
Sprint Communications, Inc. 3.37
Avolon TLB Borrower 1 2.50
First Data Corp. 2.48
Valeant Pharmaceuticals International, Inc. 1.81
Virgin Media Bristol LLC 1.64
JBS USA LLC 1.53
Brickman Group Ltd. LLC 1.45
Sedgwick Claims Management Services, Inc. 1.35
TransDigm, Inc. 1.06
Caesars Entertainment Resort Properties LLC 1.05
Total Portfolio % 18.24
(as of 12/31/2016)
label percentageholding
First Data Corp. 2.95
Valeant Pharmaceuticals International, Inc. 2.48
Community Health Systems, Inc. 2.43
Brickman Group Ltd. LLC 1.73
Sedgwick Claims Management Services, Inc. 1.60
Advantage Sales & Marketing, Inc. 1.28
Caesars Entertainment Resort Properties LLC 1.25
inVentiv Health, Inc. 1.25
Calpine Corp. 1.22
DTZ U.S. Borrower LLC 1.18
Total Portfolio % 17.37

Credit Exposure (%)

(as of 3/31/2017)
label value
Baa/BBB 1.7
Ba/BB 44.5
B 38.5
Caa/CCC or lower 9.3
Not Rated 7.4
Cash & Cash Offsets -1.5

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
Sectors 12/31/2016 Fund 03/31/2017 Benchmark 03/31/2017 UNDERWEIGHT / OVERWEIGHT -6 0 6
Utilities 3.3 5.8 2.6
Overweight 50.0%
Consumer Non-Cyclical 21.2 20.0 18.4
Overweight 33.333333333333336%
Financial Institutions 10.5 7.3 5.5
Overweight 33.333333333333336%
Transportation 1.3 4.2 2.6
Overweight 16.666666666666668%
Other Industrial 4.0 3.8 2.7
Overweight 16.666666666666668%
Communications 7.2 14.7 15.1
Overweight 0.0%
Basic Industry 3.7 5.4 5.1
Overweight 0.0%
Other Securities 6.0 4.4 0.0
Overweight 0.0%
Energy 4.7 4.3 4.4
Overweight 0.0%
Government & Government Related 0.4 0.4 0.0
Overweight 0.0%
Cash and Cash Equivalents 5.6 -1.5 0.0
Overweight 0.0%
Other High Yield 0.1 0.0 0.7
Overweight 16.666666666666668%
Capital Goods 6.4 6.7 9.1
Overweight 33.333333333333336%
Technology 10.2 10.1 13.8
Overweight 66.66666666666667%
Consumer Cyclical 15.5 14.5 20.0
Overweight 100.0%

Insights

pdf

Bank Loans: Yesterday, Today, and Tomorrow  

Wed Dec 07 11:06:00 EST 2016
The bank loan market turns 25 years old in January 2017. To mark the occasion, we profile the evolution of the sector, assess its current state, and identify potentially attractive opportuni...
pdf

Bank Loans: A Sector That May Be Poised to Benefit from the Recent Rise in U.S. LIBOR 

Mon Sep 26 11:06:00 EDT 2016
Bank loans are getting renewed interest from investors, with the long-anticipated start of higher interest rates looking like it might finally materialize in the US.
pdf

Negative Yields: A Race to the Bottom? 

Fri Mar 18 11:06:00 EDT 2016
Recent market and economic data suggests that, contrary to the intentions of central banks, negative rates may actually dampen rather than stimulate an economy by hobbling its banking sector...

Literature

Fund Literature

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Fact Sheet

03/31/2017 | pdf
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Commentary

03/31/2017 | pdf
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Summary Prospectus

03/01/2017 | pdf

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Pitchbook

03/31/2017 | pdf

Semi Annual Report

04/30/2016 | pdf

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Statutory Prospectus

03/01/2017 | pdf

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Annual Report

10/31/2016 | pdf

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Flyer

03/31/2017 | pdf
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SAI

03/01/2017 | pdf

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A WORD ABOUT RISK

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; these risks are currently heightened due to the historically low interest rate environment. Investments in high-yield ("junk") bonds involve greater risk of price volatility, illiquidity, and default than higher-rated debt securities. Loans can be difficult to value and highly illiquid; they are subject to credit risk and risks of bankruptcy and insolvency. Derivatives may be riskier or more volatile than other types of investments because they are generally more sensitive to changes in market or economic conditions; risks include currency, leverage, liquidity, index, pricing, and counterparty risk. Foreign investments can be riskier and more volatile than U.S. investments due to the adverse effects of currency exchange rates, differences in market structure and liquidity, as well as political and economic developments in foreign countries and regions (e.g., "Brexit"). Privately placed, restricted (Rule 144A) securities may be more difficult to sell and value than publicly traded securities, thus they may be potentially illiquid.
Floating Rate High Income 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.

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