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Hartford Schroders Emerging Markets Multi-Sector Bond Fund

Hartford Schroders Emerging Markets Multi-Sector Bond Fund

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  • 9.29NAV (as of 1/21/2020)
  • +0.00 (+0.00%) NAV Change
  • Emerging Markets BondMorningstar Category
  • Emerging Mrkts Hard Currency Debt FundsLipper Classification

On 10/24/16, the Schroder Emerging Markets Multi-Sector Bond Fund (the “Predecessor Fund”) was reorganized into the Hartford Schroders Emerging Markets Multi-Sector Bond Fund, a new Hartford Fund that has substantially the same objective and strategies as the Predecessor Fund. As a result, all data prior to 10/24/16 is that of the Predecessor Fund.

Objective

Seeks to provide a return of long-term capital growth and income.

Overview

An emerging markets bond fund that integrates sovereign hard currency debt, local currency debt, emerging market corporate debt, and emerging market currency rates within an actively managed, strategic asset-allocation framework.

Hartford Schroders Emerging Markets Multi-Sector Bond Fund Update

Monthly portfolio review and outlook

View Update >  Subscribe >

More About Hartford Schroders Emerging Markets Multi-Sector Bond Fund 

Jim Barrineau
Portfolio Manager
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Fernando Grisales, CFA
Portfolio Manager
view bio

The portfolio managers are supported by the full resources of Schroders.

Video Commentaries

schroders-emerging-markets-multisector-bond-process-thumbnail

Investment Process (4:00)
Portfolio Manager Jim Barrineau

  

Performance

Performance (%)
% (as of 12/31/2019)
Average Annual Total Returns % (as of 12/31/2019)
YTD 1YR 3YR 5YR 10YR SI
Hartford Schroders Emerging Markets Multi-Sector Bond  I 11.52 11.52 5.64 5.00 --- 3.92
Blended Benchmark 13.93 13.93 6.73 5.05 --- ---
Morningstar Emerging Markets Bond Category 12.22 12.22 5.49 4.17 --- ---
Performance (%)
% (as of 12/31/2019)
Average Annual Total Returns % (as of 12/31/2019)
YTD 1YR 3YR 5YR 10YR SI
Hartford Schroders Emerging Markets Multi-Sector Bond  I 11.52 11.52 5.64 5.00 --- 3.92
Blended Benchmark 13.93 13.93 6.73 5.05 --- ---
Morningstar Emerging Markets Bond Category 12.22 12.22 5.49 4.17 --- ---
SI = Since Inception. Fund Inception: 06/25/2013
Operating Expenses:   Net  0.91% |  Gross  1.03%
Performance prior to 10/24/16 for Class I-shares reflects the performance, fees, and expenses of the Investor Class of the Predecessor Fund. If Class I fees and expenses were reflected, performance would have differed. SI performance is calculated from 6/25/13.

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 12/31/2019)
[{"date":"Tue Dec 31 00:00:00 EST 2019","value":"12848.0"},{"date":"Sat Nov 30 00:00:00 EST 2019","value":"12479.0"},{"date":"Thu Oct 31 00:00:00 EDT 2019","value":"12674.0"},{"date":"Mon Sep 30 00:00:00 EDT 2019","value":"12354.0"},{"date":"Sat Aug 31 00:00:00 EDT 2019","value":"12220.0"},{"date":"Wed Jul 31 00:00:00 EDT 2019","value":"12906.0"},{"date":"Sun Jun 30 00:00:00 EDT 2019","value":"12741.0"},{"date":"Fri May 31 00:00:00 EDT 2019","value":"12301.0"},{"date":"Tue Apr 30 00:00:00 EDT 2019","value":"12315.0"},{"date":"Sun Mar 31 00:00:00 EDT 2019","value":"12261.0"},{"date":"Thu Feb 28 00:00:00 EST 2019","value":"12186.0"},{"date":"Thu Jan 31 00:00:00 EST 2019","value":"12146.0"},{"date":"Mon Dec 31 00:00:00 EST 2018","value":"11520.0"},{"date":"Fri Nov 30 00:00:00 EST 2018","value":"11440.0"},{"date":"Wed Oct 31 00:00:00 EDT 2018","value":"11559.0"},{"date":"Sun Sep 30 00:00:00 EDT 2018","value":"11638.0"},{"date":"Fri Aug 31 00:00:00 EDT 2018","value":"11363.0"},{"date":"Tue Jul 31 00:00:00 EDT 2018","value":"11804.0"},{"date":"Sat Jun 30 00:00:00 EDT 2018","value":"11519.0"},{"date":"Thu May 31 00:00:00 EDT 2018","value":"11891.0"},{"date":"Mon Apr 30 00:00:00 EDT 2018","value":"12159.0"},{"date":"Sat Mar 31 00:00:00 EDT 2018","value":"12363.0"},{"date":"Wed Feb 28 00:00:00 EST 2018","value":"12432.0"},{"date":"Wed Jan 31 00:00:00 EST 2018","value":"12621.0"},{"date":"Sun Dec 31 00:00:00 EST 2017","value":"12394.0"},{"date":"Thu Nov 30 00:00:00 EST 2017","value":"12244.0"},{"date":"Tue Oct 31 00:00:00 EDT 2017","value":"12195.0"},{"date":"Sat Sep 30 00:00:00 EDT 2017","value":"12244.0"},{"date":"Thu Aug 31 00:00:00 EDT 2017","value":"12196.0"},{"date":"Mon Jul 31 00:00:00 EDT 2017","value":"11979.0"},{"date":"Fri Jun 30 00:00:00 EDT 2017","value":"11798.0"},{"date":"Wed May 31 00:00:00 EDT 2017","value":"11808.0"},{"date":"Sun Apr 30 00:00:00 EDT 2017","value":"11641.0"},{"date":"Fri Mar 31 00:00:00 EDT 2017","value":"11439.0"},{"date":"Tue Feb 28 00:00:00 EST 2017","value":"11367.0"},{"date":"Tue Jan 31 00:00:00 EST 2017","value":"11144.0"},{"date":"Sat Dec 31 00:00:00 EST 2016","value":"10898.0"},{"date":"Wed Nov 30 00:00:00 EST 2016","value":"10666.0"},{"date":"Mon Oct 31 00:00:00 EDT 2016","value":"11180.0"},{"date":"Fri Sep 30 00:00:00 EDT 2016","value":"11214.0"},{"date":"Wed Aug 31 00:00:00 EDT 2016","value":"11181.0"},{"date":"Sun Jul 31 00:00:00 EDT 2016","value":"11035.0"},{"date":"Thu Jun 30 00:00:00 EDT 2016","value":"10848.0"},{"date":"Tue May 31 00:00:00 EDT 2016","value":"10434.0"},{"date":"Sat Apr 30 00:00:00 EDT 2016","value":"10602.0"},{"date":"Thu Mar 31 00:00:00 EDT 2016","value":"10291.0"},{"date":"Mon Feb 29 00:00:00 EST 2016","value":"9715.0"},{"date":"Sun Jan 31 00:00:00 EST 2016","value":"9559.0"},{"date":"Thu Dec 31 00:00:00 EST 2015","value":"9637.0"},{"date":"Mon Nov 30 00:00:00 EST 2015","value":"9876.0"},{"date":"Sat Oct 31 00:00:00 EDT 2015","value":"9988.0"},{"date":"Wed Sep 30 00:00:00 EDT 2015","value":"9571.0"},{"date":"Mon Aug 31 00:00:00 EDT 2015","value":"9870.0"},{"date":"Fri Jul 31 00:00:00 EDT 2015","value":"10168.0"},{"date":"Tue Jun 30 00:00:00 EDT 2015","value":"10357.0"},{"date":"Sun May 31 00:00:00 EDT 2015","value":"10524.0"},{"date":"Thu Apr 30 00:00:00 EDT 2015","value":"10646.0"},{"date":"Tue Mar 31 00:00:00 EDT 2015","value":"10152.0"},{"date":"Sat Feb 28 00:00:00 EST 2015","value":"10121.0"},{"date":"Sat Jan 31 00:00:00 EST 2015","value":"9995.0"},{"date":"Wed Dec 31 00:00:00 EST 2014","value":"10066.0"},{"date":"Sun Nov 30 00:00:00 EST 2014","value":"10451.0"},{"date":"Fri Oct 31 00:00:00 EDT 2014","value":"10679.0"},{"date":"Tue Sep 30 00:00:00 EDT 2014","value":"10694.0"},{"date":"Sun Aug 31 00:00:00 EDT 2014","value":"11074.0"},{"date":"Thu Jul 31 00:00:00 EDT 2014","value":"11003.0"},{"date":"Mon Jun 30 00:00:00 EDT 2014","value":"11008.0"},{"date":"Sat May 31 00:00:00 EDT 2014","value":"10826.0"},{"date":"Wed Apr 30 00:00:00 EDT 2014","value":"10520.0"},{"date":"Mon Mar 31 00:00:00 EDT 2014","value":"10388.0"},{"date":"Fri Feb 28 00:00:00 EST 2014","value":"10217.0"},{"date":"Fri Jan 31 00:00:00 EST 2014","value":"10016.0"},{"date":"Tue Dec 31 00:00:00 EST 2013","value":"10202.0"},{"date":"Sat Nov 30 00:00:00 EST 2013","value":"10097.0"},{"date":"Thu Oct 31 00:00:00 EDT 2013","value":"10319.0"},{"date":"Mon Sep 30 00:00:00 EDT 2013","value":"10127.0"},{"date":"Sat Aug 31 00:00:00 EDT 2013","value":"9867.0"},{"date":"Wed Jul 31 00:00:00 EDT 2013","value":"10089.0"},{"date":"Sun Jun 30 00:00:00 EDT 2013","value":"10070.0"},{"date":"Tue Jun 25 00:00:00 EDT 2013","value":"10000.0"}]

 
Growth of $10,000
Calendar Year Returns (%)
Fund Benchmark
2019 11.52 13.93
2018 -7.05 -3.96
2017 13.72 11.13
2016 13.09 10.04
2015 -4.26 -4.39
2014 -1.33 2.13

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.
Statistics
As of Date 12/31/2019
Net Assets $91 million
# of Holdings 132
# of Issuers 97
Turnover (12/31/2019) 215%
Dividend Frequency Quarterly
Holdings Characteristics
(as of 12/31/2019)
Fund
Effective Duration 6.10 yrs

Regional Exposure (%)

(as of 12/31/2019)
label value
Latin America 46
Asia-Pacific 23
Eastern Europe 21
Africa 5
Developed Markets 4
Middle East 1

Top 10 Countries (%)

(as of 12/31/2019)
label percentage
Mexico
 21
Russia
 8
China
 8
Indonesia
 8
Argentina
 7
Brazil
 7
Turkey
 4
Chile
 4
Colombia
 4
Poland
 4
Top Ten Countries represent the Fund's top ten country exposures based on market value.

Top Ten Currencies (%)

(as of 12/31/2019)
label percentage
US DOLLAR 68
RUSSIAN ROUBLE 5
MEXICAN PESO 5
INDONESIAN RUP. 4
POLISH ZLOTY 4
JAPANESE YEN 3
MALAYSIAN RING 2
THAILAND BAHT 2
Turkish Lira 1
HUNGARY FORINT 1

Top Ten Currencies represent the Fund's top ten currency exposures based on underlying currency exposure. 

Top Ten Issuers (%)

(as of 12/31/2019)
label percentageholding
Mexican Bonos 5.62
Petroleos Mexicanos 5.22
Russian Federal Bond - OFZ 5.13
Indonesia Treasury Bond 4.24
Republic of Poland Government Bond 3.61
Russian Foreign Bond - Eurobond 2.91
Provincia de Cordoba 2.87
Malaysia Government Bond 2.13
Perusahaan Listrik Negara PT 1.75
China Great Wall International Holdings Ltd. 1.61
Total Portfolio % 35.09
(as of 9/30/2019)
label percentageholding
Petroleos Mexicanos 5.16
Mexican Bonos 4.84
Indonesia Treasury Bond 4.12
Brazil Notas do Tesouro Nacional 4.10
Russian Federal Bond - OFZ 3.26
Provincia de Cordoba 2.33
Republic of Poland Government Bond 2.16
Republic of South Africa Government Bond 2.09
Malaysia Government Bond 2.08
Ecuador Government International Bond 2.02
Total Portfolio % 32.16

   PDF Full Portfolio Holdings

Credit Exposure (%)

(as of 12/31/2019)
label value
Aaa/AAA 3
Aa/AA 2
A 21
Baa/BBB 32
Ba/BB 12
B 22
Caa/CCC or lower 8
Not Rated 1
Cash & Cash Offsets -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 average rating is used. If only two ratings agencies assign ratings, the average rating is used. Securities that are not rated by any of the three agencies are listed as "Not Rated". The ratings breakdown includes cash and cash equivalents. Ratings do not apply to the Fund itself or to Fund shares. Ratings may change.

Fund Essentials
Inception Date 06/25/2013
Symbol SMSNX
CUSIP 41665H755
Fund Number 1814
Yields
As of Date 12/31/2019
30 Day SEC Yield 5.54%
Unsubsidized 30-Day SEC Yield 5.42%

Insights

pdf

Emerging Markets Multi-Sector Debt 

12/18/2019
Following a stellar year, we see a more mixed picture in 2020, especially for corporate bonds, with elevated valuations not necessarily justified by fundamentals.
pdf

Why investors are wrong to overlook emerging market debt 

08/12/2019
Some investors see emerging market debt as obscure and risky, but the view doesn’t stack up with our research. It can form a valuable part of investors’ core fixed-income exposure.
pdf

3Q Multi-Asset Outlook: Central Banks to the Rescue? Don't Count on it  

07/15/2019
Regardless of near-term developments on the trade front, I expect growth to slow and think investors should consider more defensive positioning.

Literature

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Fact Sheet

09/30/2019 | pdf

This Fund Fact Sheet summarizes the Fund's investment approach, portfolio statistics, top holdings, and current performance.

View FINRA Letter

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pdf

Expanded Commentary

09/30/2019 | pdf

Current quarterly commentary from sub-adviser, Schroders, which includes a performance review, attribution, statistics, and positioning and outlook for the Fund.

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pdf

Summary Prospectus

03/01/2019 | pdf

A concise summary of the Fund’s investment strategy, performance, expenses, risks, and management team.

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Pitchbook

09/30/2019 | pdf

This Pitchbook reviews the Fund's investment approach, investment team, investment process, portfolio statistics, top holdings, and current performance.

pdf

Semi Annual Report

04/30/2019 | pdf

A semi-annual update on the Fund that includes a manager discussion of the Fund’s performance and financial statements.

pdf

Statutory Prospectus

03/01/2019 | pdf

An annual update that includes information about the Funds' investment managers, sub-advisers, and operations.

pdf

Annual Report

10/31/2019 | pdf

An annual update on the Fund that includes a manager discussion of the Fund’s performance and financial statements.

pdf

SAI

03/01/2019 | pdf

A supplementary document to the Fund’s prospectus that includes additional information about the Fund and its operations.

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. • Fixed income security risks include credit, liquidity, call, duration, 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. • Restricted securities may be more difficult to sell and price than other 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. These risks may be greater for investments in emerging markets or if the Fund focuses in a particular geographic region or country. • The Fund may have high portfolio turnover, which could increase its transaction costs and an investor's tax liability. • The Fund invests in a smaller number of issuers, so it may be more exposed to risks and volatility than a more broadly diversified fund.

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Investing involves risk, including the possible loss of principal. Investors should carefully consider a fund's investment objectives, risks, charges and expenses. This and other important information is contained in the mutual fund, ETF or closed-end interval fund prospectus or summary prospectus, which can be obtained from a financial professional and should be read carefully before investing.

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