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.
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Average Annual Total Returns % (as of 4/30/2020)
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| 1YR | 5YR | 10YR | SI | ||
|---|---|---|---|---|---|
| Hartford Floating Rate High Income I | -8.52 | 1.52 | --- | 3.70 | |
| Benchmark | -6.61 | 1.85 | --- | --- | |
| Morningstar Bank Loan Category | -7.36 | 1.01 | --- | --- | |
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Average Annual Total Returns % (as of 3/31/2020)
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| 1YR | 5YR | 10YR | SI | ||
|---|---|---|---|---|---|
| Hartford Floating Rate High Income I | -11.37 | 0.81 | --- | 3.13 | |
| Benchmark | -9.13 | 1.14 | --- | --- | |
| Morningstar Bank Loan Category | -9.26 | 0.53 | --- | --- | |
SI = Since Inception.
Fund Inception: 09/30/2011
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 (I-Share)
(as of 4/30/2020)[{"date":"Thu Apr 30 00:00:00 EDT 2020","value":"13660.0"},{"date":"Tue Mar 31 00:00:00 EDT 2020","value":"12991.0"},{"date":"Sat Feb 29 00:00:00 EST 2020","value":"15213.0"},{"date":"Fri Jan 31 00:00:00 EST 2020","value":"15447.0"},{"date":"Tue Dec 31 00:00:00 EST 2019","value":"15391.0"},{"date":"Sat Nov 30 00:00:00 EST 2019","value":"15100.0"},{"date":"Thu Oct 31 00:00:00 EDT 2019","value":"15014.0"},{"date":"Mon Sep 30 00:00:00 EDT 2019","value":"15081.0"},{"date":"Sat Aug 31 00:00:00 EDT 2019","value":"14978.0"},{"date":"Wed Jul 31 00:00:00 EDT 2019","value":"15027.0"},{"date":"Sun Jun 30 00:00:00 EDT 2019","value":"14904.0"},{"date":"Fri May 31 00:00:00 EDT 2019","value":"14828.0"},{"date":"Tue Apr 30 00:00:00 EDT 2019","value":"14932.0"},{"date":"Sun Mar 31 00:00:00 EDT 2019","value":"14658.0"},{"date":"Thu Feb 28 00:00:00 EST 2019","value":"14701.0"},{"date":"Thu Jan 31 00:00:00 EST 2019","value":"14464.0"},{"date":"Mon Dec 31 00:00:00 EST 2018","value":"14087.0"},{"date":"Fri Nov 30 00:00:00 EST 2018","value":"14454.0"},{"date":"Wed Oct 31 00:00:00 EDT 2018","value":"14629.0"},{"date":"Sun Sep 30 00:00:00 EDT 2018","value":"14657.0"},{"date":"Fri Aug 31 00:00:00 EDT 2018","value":"14558.0"},{"date":"Tue Jul 31 00:00:00 EDT 2018","value":"14501.0"},{"date":"Sat Jun 30 00:00:00 EDT 2018","value":"14359.0"},{"date":"Thu May 31 00:00:00 EDT 2018","value":"14364.0"},{"date":"Mon Apr 30 00:00:00 EDT 2018","value":"14398.0"},{"date":"Sat Mar 31 00:00:00 EDT 2018","value":"14306.0"},{"date":"Wed Feb 28 00:00:00 EST 2018","value":"14283.0"},{"date":"Wed Jan 31 00:00:00 EST 2018","value":"14281.0"},{"date":"Sun Dec 31 00:00:00 EST 2017","value":"14134.0"},{"date":"Thu Nov 30 00:00:00 EST 2017","value":"14073.0"},{"date":"Tue Oct 31 00:00:00 EDT 2017","value":"14082.0"},{"date":"Sat Sep 30 00:00:00 EDT 2017","value":"13952.0"},{"date":"Thu Aug 31 00:00:00 EDT 2017","value":"13880.0"},{"date":"Mon Jul 31 00:00:00 EDT 2017","value":"13903.0"},{"date":"Fri Jun 30 00:00:00 EDT 2017","value":"13788.0"},{"date":"Wed May 31 00:00:00 EDT 2017","value":"13814.0"},{"date":"Sun Apr 30 00:00:00 EDT 2017","value":"13740.0"},{"date":"Fri Mar 31 00:00:00 EDT 2017","value":"13669.0"},{"date":"Tue Feb 28 00:00:00 EST 2017","value":"13666.0"},{"date":"Tue Jan 31 00:00:00 EST 2017","value":"13543.0"},{"date":"Sat Dec 31 00:00:00 EST 2016","value":"13429.0"},{"date":"Wed Nov 30 00:00:00 EST 2016","value":"13224.0"},{"date":"Mon Oct 31 00:00:00 EDT 2016","value":"13205.0"},{"date":"Fri Sep 30 00:00:00 EDT 2016","value":"13053.0"},{"date":"Wed Aug 31 00:00:00 EDT 2016","value":"12919.0"},{"date":"Sun Jul 31 00:00:00 EDT 2016","value":"12783.0"},{"date":"Thu Jun 30 00:00:00 EDT 2016","value":"12569.0"},{"date":"Tue May 31 00:00:00 EDT 2016","value":"12527.0"},{"date":"Sat Apr 30 00:00:00 EDT 2016","value":"12416.0"},{"date":"Thu Mar 31 00:00:00 EDT 2016","value":"12009.0"},{"date":"Mon Feb 29 00:00:00 EST 2016","value":"11562.0"},{"date":"Sun Jan 31 00:00:00 EST 2016","value":"11596.0"},{"date":"Thu Dec 31 00:00:00 EST 2015","value":"11821.0"},{"date":"Mon Nov 30 00:00:00 EST 2015","value":"12045.0"},{"date":"Sat Oct 31 00:00:00 EDT 2015","value":"12219.0"},{"date":"Wed Sep 30 00:00:00 EDT 2015","value":"12214.0"},{"date":"Mon Aug 31 00:00:00 EDT 2015","value":"12352.0"},{"date":"Fri Jul 31 00:00:00 EDT 2015","value":"12537.0"},{"date":"Tue Jun 30 00:00:00 EDT 2015","value":"12597.0"},{"date":"Sun May 31 00:00:00 EDT 2015","value":"12706.0"},{"date":"Thu Apr 30 00:00:00 EDT 2015","value":"12669.0"},{"date":"Tue Mar 31 00:00:00 EDT 2015","value":"12480.0"},{"date":"Sat Feb 28 00:00:00 EST 2015","value":"12426.0"},{"date":"Sat Jan 31 00:00:00 EST 2015","value":"12178.0"},{"date":"Wed Dec 31 00:00:00 EST 2014","value":"12243.0"},{"date":"Sun Nov 30 00:00:00 EST 2014","value":"12558.0"},{"date":"Fri Oct 31 00:00:00 EDT 2014","value":"12565.0"},{"date":"Tue Sep 30 00:00:00 EDT 2014","value":"12554.0"},{"date":"Sun Aug 31 00:00:00 EDT 2014","value":"12703.0"},{"date":"Thu Jul 31 00:00:00 EDT 2014","value":"12653.0"},{"date":"Mon Jun 30 00:00:00 EDT 2014","value":"12688.0"},{"date":"Sat May 31 00:00:00 EDT 2014","value":"12594.0"},{"date":"Wed Apr 30 00:00:00 EDT 2014","value":"12501.0"},{"date":"Mon Mar 31 00:00:00 EDT 2014","value":"12466.0"},{"date":"Fri Feb 28 00:00:00 EST 2014","value":"12414.0"},{"date":"Fri Jan 31 00:00:00 EST 2014","value":"12349.0"},{"date":"Tue Dec 31 00:00:00 EST 2013","value":"12271.0"},{"date":"Sat Nov 30 00:00:00 EST 2013","value":"12198.0"},{"date":"Thu Oct 31 00:00:00 EDT 2013","value":"12141.0"},{"date":"Mon Sep 30 00:00:00 EDT 2013","value":"12004.0"},{"date":"Sat Aug 31 00:00:00 EDT 2013","value":"11956.0"},{"date":"Wed Jul 31 00:00:00 EDT 2013","value":"11988.0"},{"date":"Sun Jun 30 00:00:00 EDT 2013","value":"11803.0"},{"date":"Fri May 31 00:00:00 EDT 2013","value":"11930.0"},{"date":"Tue Apr 30 00:00:00 EDT 2013","value":"11933.0"},{"date":"Sun Mar 31 00:00:00 EDT 2013","value":"11798.0"},{"date":"Thu Feb 28 00:00:00 EST 2013","value":"11667.0"},{"date":"Thu Jan 31 00:00:00 EST 2013","value":"11618.0"},{"date":"Mon Dec 31 00:00:00 EST 2012","value":"11451.0"},{"date":"Fri Nov 30 00:00:00 EST 2012","value":"11360.0"},{"date":"Wed Oct 31 00:00:00 EDT 2012","value":"11332.0"},{"date":"Sun Sep 30 00:00:00 EDT 2012","value":"11256.0"},{"date":"Fri Aug 31 00:00:00 EDT 2012","value":"11101.0"},{"date":"Tue Jul 31 00:00:00 EDT 2012","value":"10967.0"},{"date":"Sat Jun 30 00:00:00 EDT 2012","value":"10883.0"},{"date":"Thu May 31 00:00:00 EDT 2012","value":"10760.0"},{"date":"Mon Apr 30 00:00:00 EDT 2012","value":"10871.0"},{"date":"Sat Mar 31 00:00:00 EDT 2012","value":"10763.0"},{"date":"Wed Feb 29 00:00:00 EST 2012","value":"10676.0"},{"date":"Tue Jan 31 00:00:00 EST 2012","value":"10518.0"},{"date":"Sat Dec 31 00:00:00 EST 2011","value":"10300.0"},{"date":"Wed Nov 30 00:00:00 EST 2011","value":"10205.0"},{"date":"Mon Oct 31 00:00:00 EDT 2011","value":"10227.0"},{"date":"Fri Sep 30 00:00:00 EDT 2011","value":"10000.0"}]
| Fund | Benchmark | |
|---|---|---|
| 2019 | 9.26 | 8.64 |
| 2018 | -0.33 | 0.44 |
| 2017 | 5.25 | 4.12 |
| 2016 | 13.60 | 10.16 |
| 2015 | -3.45 | -0.69 |
| 2014 | -0.23 | 1.60 |
| 2013 | 7.14 | 5.29 |
| 2012 | 11.15 | 9.66 |
Excludes sales charges. If sales charges and taxes had been included, the value would have been lower.
CharacteristicsAllocations, exposures and holdings are subject to change. Percentages may be rounded.
Allocations, exposures and holdings are subject to change. Percentages may be rounded.
| As of Date | 4/30/2020 |
| Net Assets | $330 million |
| # of Holdings | 239 |
| Turnover (3/31/2020) | 99% |
| Dividend Frequency | Monthly |
| Fund | |
|---|---|
| Effective Duration | 0.56 yrs |
| % in Bank Loans | 78 |
| Average Bank Loan Price | $84.90 |
| As of Date | 4/30/2020 |
| Distribution Yield at NAV | 4.26% |
| 30 Day SEC Yield | 7.13% |
| Unsubsidized 30-Day SEC Yield | 7.03% |
| Inception Date | 09/30/2011 |
| Symbol | HFHIX |
| CUSIP | 41664M151 |
| Fund Number | 1038 |
Top Ten Issuers (%)
| label | percentageholding |
|---|---|
| Asurion LLC | 3.52 |
| Caesars Entertainment Operating Co. | 3.08 |
| Playtika Holding Corp. | 2.61 |
| APX Group, Inc. | 2.48 |
| Acrisure LLC | 1.95 |
| Flex Acquisition Co., Inc. | 1.82 |
| Nets Holding A/S | 1.79 |
| Numericable Group S.A. | 1.58 |
| Medallion Midland Acquisition LLC | 1.52 |
| DCert Buyer, Inc. | 1.46 |
| Total Portfolio % | 21.81 |
| label | percentageholding |
|---|---|
| Sprint Communications, Inc. | 3.86 |
| Asurion LLC | 3.67 |
| Playtika Holding Corp. | 3.00 |
| Caesars Entertainment Operating Co. | 2.95 |
| Flex Acquisition Co., Inc. | 2.37 |
| APX Group, Inc. | 2.23 |
| Acrisure LLC | 1.92 |
| Nets Holding A/S | 1.81 |
| Caesars Resort Collection LLC | 1.53 |
| DCert Buyer, Inc. | 1.52 |
| Total Portfolio % | 24.86 |
Credit Exposure (%)
| label | value |
|---|---|
| Aaa/AAA | 0 |
| Aa/AA | 0 |
| A | 0 |
| Baa/BBB | 3 |
| Ba/BB | 13 |
| B | 68 |
| Caa/CCC or lower | 9 |
| Not Rated | 5 |
| 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.
| Sectors | Fund 4/30/2020 | Benchmark 4/30/2020 |
|---|---|---|
| Consumer Cyclical | 25 | 19 |
| Energy | 7 | 2 |
| Other | 9 | 7 |
| Cash, Cash Equivalents and Cash Offsets | 2 | 0 |
| Communications | 16 | 15 |
| Financial Institutions | 9 | 8 |
| Consumer Non-Cyclical | 14 | 15 |
| Transportation | 0 | 2 |
| Utilities | 0 | 2 |
| Basic Industry | 1 | 4 |
| Capital Goods | 5 | 9 |
| Technology | 11 | 17 |
Floating Rate: Bank Loans at an Attractive Discount – 78 Cents!
03/23/2020The global impact of the coronavirus has caused steep financial declines and the bank-loan market has not been immune.
Bank Loans: 2019 in Review and a Positive View of 2020
12/17/2019Issuer fundamentals remain strong, interest coverage is near all-time highs, and we believe defaults will remain low.
Financial Professionals:
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Fund LiteratureSelect All
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Fact Sheet03/31/2020 | pdfThis Fund Fact Sheet summarizes the Fund's investment approach, portfolio statistics, top holdings, and current performance. |
Commentary03/31/2020 | pdfCurrent quarterly commentary from our sub-adviser, Wellington Management, which includes a performance review, attribution, statistics, and positioning and outlook for the Fund. |
Summary Prospectus02/28/2020 | pdfA concise summary of the Fund’s investment strategy, performance, expenses, risks, and management team.
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Floating Rate High Income Fund Pitchbook03/31/2020 | pdfThis Pitchbook reviews the Funds' investment approach, investment team, investment process, and general portfolio parameters.
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Semi Annual Report04/30/2019 | pdfA semi-annual update on the Fund that includes a manager discussion of the Fund’s performance and financial statements.
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Statutory Prospectus02/28/2020 | pdfAn annual update on the Fund that includes information about the Fund’s investment manager, sub-adviser, and operations.
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Annual Report10/31/2019 | pdfAn annual update on the Fund that includes a manager discussion of the Fund’s performance and financial statements.
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SAI02/28/2020 | pdfA supplementary document to the Fund’s prospectus that includes additional information about the Fund and its operations.
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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, 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 and economic developments. • Restricted securities may be more difficult to sell and price than other securities.
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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