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Hartford Municipal Short Duration Fund

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Objective

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

Overview

A municipal bond fund that strives to limit the volatility of returns caused by changes in interest rates and provide income that is typically exempt from federal taxes, and long-term total return.

More About Municipal Short Duration 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 Short Duration  I 2.41 2.41 --- --- --- 1.21
Benchmark 1.61 1.61 --- --- --- ---
Morningstar Muni National Short Category 1.75 1.75 --- --- --- ---
Performance (%)
% (as of 12/31/2017)
Average Annual Total Returns % (as of 12/31/2017)
YTD 1YR 3YR 5YR 10YR SI
Hartford Municipal Short Duration  I 2.41 2.41 --- --- --- 1.21
Benchmark 1.61 1.61 --- --- --- ---
Morningstar Muni National Short Category 1.75 1.75 --- --- --- ---
SI = Since Inception. Fund Inception: 05/29/2015
Operating Expenses:   Net  0.45% |  Gross  1.27%

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 $19 million
Dividend Frequency Monthly
Holdings Characteristics
(as of 12/31/2017)
Fund
Effective Duration 2.37 yrs.
Years To Worst 2.61 yrs.

Revenue Sector Exposure (%)

(as of 12/31/2017)
label currentpercentage
Health Care 17.7
Housing 8.2
Prt,Airport & Marina 9.4
Tobacco 5.2
Special Tax 8.2
Industrial Development 3.1
Student Loan 0.7
Sales Tax 1.5
Lease 5.1
Sewer & Water 3.7
Multiple Utilities 3.6
Transportation 4.4
Education 1.1
(as of 9/30/2017)
label currentpercentage
Health Care 18.0
Housing 6.0
Prt,Airport & Marina 10.8
Tobacco 4.5
Special Tax 8.4
Industrial Development 3.5
Student Loan 0.7
Sales Tax 1.6
Lease 4.5
Sewer & Water 3.7
Multiple Utilities 3.5
Transportation 7.1
Education 3.3
Fund Essentials
Inception Date 05/29/2015
Symbol HMJIX
CUSIP 41664T602
Fund Number 1713

Top Ten Issuers (%)

(as of 12/31/2017)
label percentageholding
Illinois State, GO 3.64
Illinois State Finance Auth Rev 2.59
Michigan Finance Auth 2.46
California County Tobacco Securitization Agency 2.11
Tennessee Housing Development Agency Rev 2.11
Clear Creek ISD GO 1.77
North Dakota Housing Finance Agency 1.71
Chicago, IL, Transit Auth 1.64
New Orleans, LA, Aviation Board 1.56
New Jersey Educational Facs Auth Rev 1.49
Total Portfolio % 21.08
(as of 9/30/2017)
label percentageholding
Illinois State Finance Auth Rev 2.64
Michigan Finance Auth 2.50
Tennessee Housing Development Agency Rev 2.19
Illinois State, GO 2.18
California County Tobacco Securitization Agency 2.12
University of Texas 2.10
Cook County, IL, GO 1.87
New York State Dormitory Auth Rev 1.85
Clear Creek Independent School Dist. 1.78
Chicago, IL, Transit Auth 1.67
Total Portfolio % 20.90

Credit Exposure (%)

(as of 12/31/2017)
label value
Aaa/AAA 9.4
Aa/AA 13.6
A 36.3
Baa/BBB 19.8
Ba/BB 6.6
B 0.5
Caa/CCC or lower 0.2
Not Rated 6.5
Cash & Cash Offsets 7.1

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.

Municipal Sector Exposure (%)

(as of 12/31/2017)
label currentpercentage
Local GO 13.0
State GO 4.1
Prerefunded 4.7
Revenue 72.1
(as of 9/30/2017)
label currentpercentage
Local GO 13.4
State GO 4.1
Prerefunded 5.2
Revenue 75.5

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
Get FINRA Letter

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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