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Hartford Schroders Securitized Income Fund

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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.

More About Hartford Schroders Securitized Income Fund 

Michelle Russell-Dowe
Portfolio Manager
Anthony Breaks, CFA
Portfolio Manager

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

Performance

Performance (%)
% (as of 9/30/2020)
Average Annual Total Returns % (as of 9/30/2020)
YTD 1YR 3YR 5YR 10YR SI
Hartford Schroders Securitized Income  I -0.62 -0.17 --- --- --- 1.02
Benchmark 4.17 4.18 --- --- --- ---
Morningstar Short-Term Bond Category 2.71 3.30 --- --- --- ---
Performance (%)
% (as of 9/30/2020)
Average Annual Total Returns % (as of 9/30/2020)
YTD 1YR 3YR 5YR 10YR SI
Hartford Schroders Securitized Income  I -0.62 -0.17 --- --- --- 1.02
Benchmark 4.17 4.18 --- --- --- ---
Morningstar Short-Term Bond Category 2.71 3.30 --- --- --- ---
SI = Since Inception. Fund Inception: 02/28/2019
Operating Expenses:   Net  1.05% |  Gross  1.34%

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.

CharacteristicsAllocations, exposures and holdings are subject to change. Percentages may be rounded.

Allocations, exposures and holdings are subject to change. Percentages may be rounded.
Fund Essentials
Inception Date 02/28/2019
Symbol HITIX
CUSIP 41665X552
Fund Number 1734

Credit Exposure (%)

(as of 9/30/2020)
label value
Aaa/AAA 37
Aa/AA 19
A 27
Baa/BBB 9
Ba/BB 13
B 1
Caa/CCC or lower 2
Not Rated 24
Cash & Cash Offsets -33
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.

Fixed Income Holdings

(as of 9/30/2020)
label percentageholding
Towd Point Mortgage Trust 7.86
FHLMC Mortgage Backed Securities (POOLS) 7.47
RMAC Securities plc 7.37
Alba plc 5.93
Preston Ridge Partners Mortgage Trust LLC 5.32
FNMA Mortgage Backed Securities (POOLS) 5.15
Income Contingent Student Loan 4.98
SLM Student Loan Trust 4.94
Bellemeade Re Ltd. 3.79
Navient Private Education Refi Loan Trust 3.73
Total Portfolio % 56.54
(as of 6/30/2020)
label percentageholding
FHLMC Mortgage Backed Securities (POOLS) 13.56
FNMA Mortgage Backed Securities (POOLS) 8.36
Towd Point Mortgage Trust 7.10
LCM XIII L.P. 3.88
Preston Ridge Partners Mortgage Trust LLC 3.61
CIFC Funding Ltd. 3.59
BX Commercial Mortgage Trust 2.52
Master Asset Backed Securities Trust 2.47
Ambac LSNI LLC 2.42
Fannie Mae Connecticut Avenue Securities 2.41
Total Portfolio % 49.92
Yields
As of Date 9/30/2020
Distribution Yield at NAV 1.78%
Trailing 12 Month Yield 2.27%
30 Day SEC Yield 1.54%
Unsubsidized 30-Day SEC Yield 1.35%

Insights

pdf

4Q Outlook: Politics, Policy, and the Pandemic 

10/07/2020
How will US election risk, policy support, and progress toward a COVID-19 vaccine balance out?
pdf

3Q Outlook: Do the Fundamental Things Apply? 

07/08/2020
With political and COVID-19 risks still on the horizon, how might investors approach the market in the second half of the year?
pdf

Securitized Credit Market Update 

03/23/2020
In a market under duress from COVID-19, we've identified potential opportunities to deliver true alpha by supplying liquidity to certain high-quality assets such as the US housing and consum...

Literature

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pdf

Fact Sheet

09/30/2020 | pdf

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

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Commentary (Class SDR)

06/30/2020 | pdf

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

Fund Brochure

06/30/2020 | pdf

This brochure explores the unique characteristics of securitized credit and how it can be incorporated into a diversified portfolio.

View FINRA Letter

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Summary Prospectus

pdf

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

Hartford Schroders Securitized Income Fund Pitchbook

06/30/2020 | pdf

This Pitchbook reviews the Funds' investment approach, investment team, investment process, and general portfolio parameters.

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Statutory Prospectus

pdf

An annual update on the Fund that includes information about the Fund’s investment manager, sub-adviser, and operations.

Annual Report

pdf

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

SAI

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, 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 and economic 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, and counterparty risk. • 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 additional price and counterparty risk. • The Fund may use repurchase agreements, or reverse repurchase agreements, which can increase risk and volatility. • Use of leverage can increase market exposure, magnify investment risks, and cause losses to be realized more quickly. • Investments in high-yield ("junk") bonds involve greater risk of price volatility, illiquidity, and default than higher-rated debt securities.

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