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Hartford Schroders Tax-Aware Bond Fund

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On 10/24/16, the Schroder Broad Tax-Aware Value Bond Fund (the “Predecessor Fund”) was reorganized into the Hartford Schroders Tax-Aware 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 total return on an after-tax basis.

Overview

The Fund seeks after-tax total return over the long term by focusing on investment-grade taxable and tax-exempt bonds.

As Featured in InvestmentNews

“Bond allocations: Be real, patient and flexible” by Andrew Chorlton and Julio Bonilla

Hartford Schroders Tax-Aware Bond Fund Update

Monthly portfolio review and outlook

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More About Hartford Schroders Tax-Aware Bond Fund 

Performance

Performance (%)
% (as of 12/31/2017)
Average Annual Total Returns % (as of 12/31/2017)
YTD 1YR 3YR 5YR 10YR SI
Hartford Schroders Tax-Aware Bond  I 4.13 4.13 3.09 3.65 --- 5.25
Benchmark 5.45 5.45 2.98 3.02 --- ---
Morningstar Muni National Intermediate Category 4.46 4.46 2.23 2.09 --- ---
Performance (%)
% (as of 12/31/2017)
Average Annual Total Returns % (as of 12/31/2017)
YTD 1YR 3YR 5YR 10YR SI
Hartford Schroders Tax-Aware Bond  I 4.13 4.13 3.09 3.65 --- 5.25
Benchmark 5.45 5.45 2.98 3.02 --- ---
Morningstar Muni National Intermediate Category 4.46 4.46 2.23 2.09 --- ---
SI = Since Inception. Fund Inception: 10/03/2011
Operating Expenses:   Net  0.46% |  Gross  0.55%

Performance prior to 10/24/16 for Class I-shares reflects the performance, fees, and expenses of the Investor Class of the predecessor fund Schroder Broad Tax-Aware Value Bond Fund. If Class I fees and expenses were reflected, performance would have differed. SI performance is calculated from 10/03/11.

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

(as of 12/31/2017)
[{"date":"2017/12/31","value":"13537"},{"date":"2017/11/30","value":"13419"},{"date":"2017/10/31","value":"13485"},{"date":"2017/09/30","value":"13456"},{"date":"2017/08/31","value":"13486"},{"date":"2017/07/31","value":"13420"},{"date":"2017/06/30","value":"13330"},{"date":"2017/05/31","value":"13370"},{"date":"2017/04/30","value":"13219"},{"date":"2017/03/31","value":"13137"},{"date":"2017/02/28","value":"13132"},{"date":"2017/01/31","value":"13061"},{"date":"2016/12/31","value":"13045"},{"date":"2016/11/30","value":"12921"},{"date":"2016/10/31","value":"13325"},{"date":"2016/09/30","value":"13411"},{"date":"2016/08/31","value":"13446"},{"date":"2016/07/31","value":"13411"},{"date":"2016/06/30","value":"13425"},{"date":"2016/05/31","value":"13197"},{"date":"2016/04/30","value":"13161"},{"date":"2016/03/31","value":"12996"},{"date":"2016/02/29","value":"12827"},{"date":"2016/01/31","value":"12838"},{"date":"2015/12/31","value":"12758"},{"date":"2015/11/30","value":"12702"},{"date":"2015/10/31","value":"12618"},{"date":"2015/09/30","value":"12531"},{"date":"2015/08/31","value":"12480"},{"date":"2015/07/31","value":"12476"},{"date":"2015/06/30","value":"12400"},{"date":"2015/05/31","value":"12415"},{"date":"2015/04/30","value":"12479"},{"date":"2015/03/31","value":"12594"},{"date":"2015/02/28","value":"12568"},{"date":"2015/01/31","value":"12726"},{"date":"2014/12/31","value":"12464"},{"date":"2014/11/30","value":"12372"},{"date":"2014/10/31","value":"12403"},{"date":"2014/09/30","value":"12270"},{"date":"2014/08/31","value":"12329"},{"date":"2014/07/31","value":"12033"},{"date":"2014/06/30","value":"11962"},{"date":"2014/05/31","value":"11986"},{"date":"2014/04/30","value":"11710"},{"date":"2014/03/31","value":"11497"},{"date":"2014/02/28","value":"11410"},{"date":"2014/01/31","value":"11203"},{"date":"2013/12/31","value":"10833"},{"date":"2013/11/30","value":"10884"},{"date":"2013/10/31","value":"10916"},{"date":"2013/09/30","value":"10784"},{"date":"2013/08/31","value":"10420"},{"date":"2013/07/31","value":"10641"},{"date":"2013/06/30","value":"10774"},{"date":"2013/05/31","value":"11338"},{"date":"2013/04/30","value":"11693"},{"date":"2013/03/31","value":"11461"},{"date":"2013/02/28","value":"11568"},{"date":"2013/01/31","value":"11519"},{"date":"2012/12/31","value":"11475"},{"date":"2012/11/30","value":"11726"},{"date":"2012/10/31","value":"11418"},{"date":"2012/09/30","value":"11322"},{"date":"2012/08/31","value":"11234"},{"date":"2012/07/31","value":"11224"},{"date":"2012/06/30","value":"10868"},{"date":"2012/05/31","value":"10869"},{"date":"2012/04/30","value":"10723"},{"date":"2012/03/31","value":"10531"},{"date":"2012/02/29","value":"10681"},{"date":"2012/01/31","value":"10693"},{"date":"2011/12/31","value":"10260"},{"date":"2011/11/30","value":"9929"},{"date":"2011/10/31","value":"10055"},{"date":"2011/10/03","value":"10000"}]

 
Growth of $10,000

Excludes sales charges. If sales charges and taxes had been included, the value would have been lower.

I-Share Morningstar Ratings
(as of 12/31/2017)
  • Overall
    infoIcon:
  • Overall Morningstar Rating for Schroders Tax-Aware Bond Fund, Class I, as of 12/31/2017 out of 258 products in the Muni National Intermediate Category Based on Risk-Adjusted Returns
Calendar Year Returns (%)
Fund Benchmark
2017 4.13 5.45
2016 2.56 0.25
2015 2.58 3.30
2014 15.40 9.05
2013 -5.36 -2.55
2012 12.11 6.78
2011 --- ---
2010 --- ---
2009 --- ---
2008 --- ---

Excludes sales charges. If sales charges and taxes had been included, the value would have been lower.

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

Statistics
As of Date 12/31/2017
Net Assets $245 million
# of Holdings 230
Turnover (12/31/2017) 88%
Dividend Frequency Monthly
Holdings Characteristics
(as of 12/31/2017)
Fund
% Non-Investment Grade 0%
% Not Rated 0%
Effective Duration 5.35 yrs.

Tax Exempt Municipal Sector Exposure

(as of 12/31/2017)
label currentpercentage
Etm/Pre-Refunded 26.3
General Obligation 18.4
Utilities 9.4
Floating Rate Bonds 8.3
Transportation 5.7
Higher Education 5.4
Sales Tax Revenue 4.1
Leasing 3.4
Healthcare 2.3
Other Revenue 1.8
Corp Supported 1.4
Education 1.1
Fed Agency 0.8
Tax Increment Financing 0.0
Yields
As of Date 12/31/2017
30 Day SEC Yield 1.66%
Unsubsidized 30-Day SEC Yield 1.49%
Fund Essentials
Inception Date 10/03/2011
Symbol STWTX
CUSIP 41665H805
Fund Number 1802

Top Ten Issuers (%)

(as of 12/31/2017)
label percentageholding
Pennsylvania Housing Finance Agcy. 3.19
Fayetteville Metropolitan Housing Auth. 3.03
City of Columbus OH 2.71
Energy Northwest Electric, WA 2.35
Franklin County, OH, Hospital Facs Rev 2.34
Connecticut State Health & Educational Facs. Auth. 1.84
State of California GO 1.78
Ohio Turnpike & Infrastructure Commission 1.65
Northwest Georgia Consolidated Housing Auth. 1.59
Moreno Valley, CA, USD GO 1.58
Total Portfolio % 22.06

Sector Exposure

(as of 12/31/2017)
label currentpercentage
Tax Exempt Municipal 88%
Prime MBS 5%
Industrial 3%
Financial 2%
Cash and Cash Equivalents 1%
Taxable Muni 0%
Equipment ABS 0%

Credit Exposure (%)

(as of 12/31/2017)
label value
Aaa/AAA 49.4
Aa/AA 29.9
A 15.6
Baa/BBB 4.4
Ba/BB 0.0
B 0.0
Caa/CCC or lower 0.0
Not Rated 0.0
Cash & Cash Equivalents 0.7

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.

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Insights

pdf

Shelter From the Storm 

Wed Jan 03 12:42:00 EST 2018
A fixed-income forecast for a rising-rate world
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

Hartford Schroders Tax Aware Bond Fund Outlook Commentary 

Sat Sep 30 14:46:00 EDT 2017
Fixed Income Investment Director Julie Mandell provides a review of the Fund's 3Q17 performance and outlook.

Literature

Fund Literature

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Fact Sheet

09/30/2017 | pdf
Get FINRA Letter

Max 100

Fund Story

09/30/2017 | pdf
Get FINRA Letter

Max 100

Commentary

12/31/2017 | pdf

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Max 100

Summary Prospectus

03/01/2017 | pdf

Available For
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Pitchbook

09/30/2017 | pdf

Available For
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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

Max 10

SAI

03/01/2017 | pdf

Available For
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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. Mortgage- and asset-backed securities' risks include credit, interest-rate, prepayment, and extension 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. The purchase of securities in the To-Be-Announced (TBA) market can result in additional price and counterparty risk. Derivatives may be riskier or more volatile than other types of investments because they are generally more sensitive to changes in market or economic conditions; risks include currency, leverage, liquidity, index, pricing, and counterparty risk. Foreign investments can be riskier than U.S. investments due to the adverse effects of currency exchange rates, differences in market structure and liquidity, as well as specific country, regional, and economic developments (e.g., "Brexit"). 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. The Fund may have high portfolio turnover, which could increase the Fund's transaction costs and an investor's tax liability. The Fund may be adversely affected when certain large shareholders purchase or redeem large amounts of shares of the Fund.

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