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Hartford Municipal Income Fund

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Objective

Seeks to provide a high level of current income that is generally exempt from federal income taxes, and long-term total return.

Overview

A municipal bond fund that seeks to provide income that is typically exempt from federal income taxes.

More About Municipal Income Fund 

Performance

Performance (%)
% (as of 12/31/2017)
Average Annual Total Returns % (as of 12/31/2017)
YTD 1YR 3YR 5YR 10YR SI
Hartford Municipal Income  I 6.31 6.31 --- --- --- 3.69
Benchmark 5.45 5.45 --- --- --- ---
Morningstar Muni National Intermediate Category 4.46 4.46 --- --- --- ---
Performance (%)
% (as of 12/31/2017)
Average Annual Total Returns % (as of 12/31/2017)
YTD 1YR 3YR 5YR 10YR SI
Hartford Municipal Income  I 6.31 6.31 --- --- --- 3.69
Benchmark 5.45 5.45 --- --- --- ---
Morningstar Muni National Intermediate Category 4.46 4.46 --- --- --- ---
SI = Since Inception. Fund Inception: 05/29/2015
Operating Expenses:   Net  0.46% |  Gross  1.41%

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.

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

Statistics
As of Date 12/31/2017
Net Assets $24 million
Dividend Frequency Monthly
Holdings Characteristics
(as of 12/31/2017)
Fund Bloomberg Barclays Municipal Bond Index
Effective Duration 5.66 yrs. 5.50 yrs.
Years To Worst 6.68 yrs. 6.04 yrs.

Municipal Sector Exposure (%)

(as of 12/31/2017)
label currentpercentage
Local GO 20.0
State GO 4.1
Prerefunded 3.1
Revenue 69.2
(as of 9/30/2017)
label currentpercentage
Local GO 18.1
State GO 3.9
Prerefunded 3.1
Revenue 72.2

Revenue Sector Exposure (%)

(as of 12/31/2017)
label currentpercentage
Health Care 14.6
Prt,Airport & Marina 10.7
Tobacco 3.7
Special Tax 8.4
Multiple Utilities 6.2
Industrial Development 3.2
Housing 1.8
Sales Tax 3.0
Sports/Convention 0.4
Transportation 7.1
Education 4.1
Lease 2.9
Sewer & Water 3.1
(as of 9/30/2017)
label currentpercentage
Health Care 15.5
Prt,Airport & Marina 11.7
Tobacco 3.8
Special Tax 9.3
Multiple Utilities 5.3
Industrial Development 3.5
Housing 2.1
Sales Tax 3.4
Sports/Convention 0.0
Transportation 8.1
Education 4.1
Lease 2.0
Sewer & Water 3.4
Yields
As of Date 12/31/2017
Distribution Yield at NAV 2.48%
Trailing 12 Month Yield 2.45%
30 Day SEC Yield 2.27%
Unsubsidized 30-Day SEC Yield 1.83%

Top Ten Issuers (%)

(as of 12/31/2017)
label percentageholding
Illinois State Finance Auth Rev 3.60
Dist of Columbia, GO 2.80
Pennsylvania Turnpike Commission Rev 2.17
Arlington, TX, Higher Education Finance Corp. Rev 1.90
Illinois State, GO 1.75
Buckeye, OH, Tobacco Settlement Finance Auth 1.59
Chicago, IL, Midway International Airport Rev 1.59
Michigan Finance Auth 1.54
State of Washington, GO 1.45
American Municipal Power, Inc., OH 1.30
Total Portfolio % 19.69
(as of 9/30/2017)
label percentageholding
Illinois State Finance Auth Rev 3.92
Dist of Columbia, GO 3.10
Pennsylvania Turnpike Commission Rev 2.40
Arlington, TX, Higher Education Finance Corp. Rev 2.08
Buckeye, OH, Tobacco Settlement Finance Auth 1.74
Chicago, IL, Midway International Airport Rev 1.72
Michigan Finance Auth 1.70
State of Washington, GO 1.59
Illinois State, GO 1.43
Cook County, IL, Community High School Dist No. 212 Leyden 1.40
Total Portfolio % 21.08

Credit Exposure (%)

(as of 12/31/2017)
label value
Aaa/AAA 8.5
Aa/AA 24.1
A 36.6
Baa/BBB 15.8
Ba/BB 3.4
B 2.2
Caa/CCC or lower 0.4
Not Rated 5.3
Cash & Cash Offsets 3.6

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.

Fund Essentials
Inception Date 05/29/2015
Symbol HMKIX
CUSIP 41664T305
Fund Number 1710

Insights

pdf

2018 Outlooks (Schroders) 

Fri Dec 22 14:06:00 EST 2017
Thought leaders from Schroder Investment Management provide their outlook on issues that may influence markets and portfolios going forward.
pdf

1Q 2018 Outlooks (Wellington) 

Thu Dec 21 14:06:00 EST 2017
Thought leaders from Wellington Management provide their outlook on issues that may influence markets and portfolios going forward.
pdf

Municipal Credit Risk and Natural Disasters 

Thu Sep 14 12:42:00 EDT 2017
Despite the enormity of this year’s hurricane season, we believe municipalities in the affected regions will be able to, by and large, manage through these latest challenges.

Literature

Fund Literature

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Fact Sheet

12/31/2017 | pdf
Get FINRA Letter

Max 100

Commentary

09/30/2017 | pdf

Max 100

Summary Prospectus

03/01/2017 | pdf

Available For
Download Only

Pitchbook

09/30/2017 | pdf

Available For
Download Only

Semi Annual Report

04/30/2017 | pdf

Available For
Download Only

Statutory Prospectus

03/01/2017 | pdf

Available For
Download Only

Annual Report

10/31/2017 | pdf

Available For
Download Only

SAI

03/01/2017 | pdf

Available For
Download Only

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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 because interest rates are at, or near, historical lows. Investments in high-yield ("junk") bonds involve greater risk of price volatility, illiquidity, and default than higher-rated debt securities. Municipal securities may be adversely impacted by state/local, political, economic, or market conditions. Investors may be subject to the federal Alternative Minimum Tax as well as state and local income taxes. Capital gains, if any, are taxable.

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