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Income fund

Hartford Schroders Securitized Income Fund    Share Class - I (HITIX)


On or about February 28, 2023, Hartford Schroders Securitized Income Fund will be liquidated. Effective after market close on or about January 31, 2023, the Fund will no longer sell shares to new investors. Effective after market close on or about February 21, 2023, the Fund will no longer sell additional shares to existing investors. During this time, the Fund may invest all or a substantial portion of its assets in cash or cash equivalents.

Effective 12/2/21, the Fund modified its principal investment strategy and, effective 12/31/21, the Fund changed its benchmark to the ICE BofA 1-3 Year U.S. Corporate Index.

Objective

The Fund seeks to provide current income and long-term total return consistent with preservation of capital.

Overview

A low duration, multi-sector fixed-income fund that seeks diversification beyond corporate credit through a wide variety of securitized credit instruments.

Portfolio Management
Portfolio Manager
Head of Securitized Credit
3
YRS
MANAGING THIS FUND
6
YRS
AT SCHRODERS
28
YRS
EXPERIENCE IN THIS INDUSTRY
Portfolio Manager
3
YRS
MANAGING THIS FUND
6
YRS
AT SCHRODERS
24
YRS
EXPERIENCE IN THIS INDUSTRY

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

Performance

PERFORMANCE %
 
CUMULATIVE %
(as of 1/31/2023)
AVERAGE ANNUAL TOTAL RETURNS %
(as of 1/31/2023)
YTD 1YR 3YR 5YR 10YR SI
Hartford Schroders Securitized Income I 2.33 -2.54 -0.62 --- --- 0.36
Benchmark 1.05 -2.32 0.13 --- --- ---
 
CUMULATIVE %
(as of 12/31/2022)
AVERAGE ANNUAL TOTAL RETURNS %
(as of 12/31/2022)
YTD 1YR 3YR 5YR 10YR SI
Hartford Schroders Securitized Income I -5.15 -5.15 -1.04 --- --- -0.23
Benchmark -4.05 -4.05 -0.02 --- --- ---

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.

SI = Since Inception. Fund Inception: 02/28/2019

Characteristics

FUND ESSENTIALS
Inception Date 02/28/2019
Net Assets $45 million
Gross Operating Expenses 0.64%
Net Operating Expenses 0.60%
Morningstar Category Short-Term Bond
Lipper Classification U.S. Mortgage Funds
CUSIP 41665X552
Fund Number 1734
Holdings Characteristics
Yield to Worst (%)
8.35%
Effective Duration
1.63 yrs
Fixed Income Holdings (%)
Home Re Ltd. 11.29
UMBS 11.27
Oaktown Re Ltd. 8.32
Bellemeade Re Ltd. 7.11
Radnor RE Ltd. 6.20
Preston Ridge Partners Mortgage Trust LLC 5.83
Eagle RE Ltd. 5.63
BDS Ltd. 3.30
HGI CRE CLO Ltd. 3.16
Citigroup Commercial Mortgage Trust 3.07
Total Portfolio % 65.18
Bellemeade Re Ltd. 7.65
Home Re Ltd. 7.65
Preston Ridge Partners Mortgage Trust LLC 6.22
Oaktown Re Ltd. 5.43
BDS Ltd. 4.89
Arbor Realty Commercial Real Estate Notes Ltd. 4.73
Radnor RE Ltd. 4.01
UMBS 3.72
Eagle RE Ltd. 3.65
Credit Suisse Mortgage Capital Certificates 3.11
Total Portfolio % 51.06
distributions and capital gains
Distribution Date Distribution NAV ordinary income short term capital gains long term capital gains total distribution
1/31/2023 9.19 $0.0000 $0.0000 $0.0000 $0.0000
12/29/2022 9.00 $0.0916 $0.0000 $0.0000 $0.0916
12/19/2022 9.11 $0.0000 $0.0000 $0.0000 $0.0000
11/30/2022 9.04 $0.0378 $0.0000 $0.0000 $0.0378
10/31/2022 9.04 $0.0339 $0.0000 $0.0000 $0.0339
9/29/2022 9.16 $0.0310 $0.0000 $0.0000 $0.0310
8/31/2022 9.30 $0.0299 $0.0000 $0.0000 $0.0299
7/29/2022 9.34 $0.0206 $0.0000 $0.0000 $0.0206
6/29/2022 9.32 $0.0189 $0.0000 $0.0000 $0.0189
5/31/2022 9.45 $0.0175 $0.0000 $0.0000 $0.0175
4/29/2022 9.53 $0.0156 $0.0000 $0.0000 $0.0156
3/30/2022 9.57 $0.0135 $0.0000 $0.0000 $0.0135
2/28/2022 9.67 $0.0153 $0.0000 $0.0000 $0.0153

Fund Literature


09/30/2022 - PDF (214 KB)
This Fund Fact Sheet summarizes the Fund's investment approach, portfolio statistics, top holdings, and current performance.
09/30/2022 - PDF (128 KB)
Current quarterly commentary from our sub-adviser, Schroders, which includes a performance review, attribution, statistics, and positioning and outlook for the Fund.
PDF (151 KB)
A summary of a fund's full-length prospectus that provides key information potential investors should consider before making an investment decision.
This Pitchbook reviews the Fund's investment approach, investment team, investment process, and general portfolio parameters.
PDF (2 KB)
A semi-annual update on the Fund that includes a manager discussion of the Fund’s performance and financial statements.
PDF (13 KB)
A legal document that discloses essential information about a fund, including investment objectives, risks, fees, expenses, fund manager background and other information.
PDF (3 KB)
An audited financial report, which includes a fund's financial statements. These reports are intended for shareholders and others who have reviewed the fund's prospectus.
PDF (13 KB)
A document that supplements the fund's prospectus with additional information about the fund including its operations and risks.
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, event and interest-rate risk. As interest rates rise, bond prices generally fall. • The risks associated with mortgage-related and asset-backed securities as well as collateralized loan obligations (CLOs) include credit, interest-rate, prepayment, liquidity, default and extension 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, economic and regulatory developments. • 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, regulatory and counterparty risk. • Integration of environmental, social, and/or governance (ESG) characteristics into the investment process may not work as intended. • Obligations of U.S. Government agencies are supported by varying degrees of credit but are generally not backed by the full faith and credit of the U.S. Government. • Restricted securities may be more difficult to sell and price than other securities. • The purchase of securities in the To-Be-Announced (TBA) market can result in higher portfolio turnover and related expenses as well as price and counterparty risk. • The Fund may use repurchase agreements, which can increase risk and volatility. • Investments in high-yield ("junk") bonds involve greater risk of price volatility, illiquidity, and default than higher-rated debt securities. • Changes related to LIBOR could have an adverse impact on financial instruments that reference this rate.
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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, or ETF summary prospectus and/or prospectus, which can be obtained from a financial professional and should be read carefully before investing.

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