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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.

Hartford Schroders Tax-Aware Bond Fund Update

Monthly portfolio review and outlook

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More About Hartford Schroders Tax-Aware Bond Fund 

Andrew B.J. Chorlton, CFA
Portfolio Manager
Edward "Todd" H. Jewett
Portfolio Manager
Richard A. Rezek Jr., CFA
Portfolio Manager
Neil G. Sutherland, CFA
Portfolio Manager
Julio C. Bonilla, CFA
Portfolio Manager

Portfolio managers are supported by the full resources of Schroders.

Video Commentaries

schroders-tax-aware-bond-process-thumbnail

Investment Process (1:14)
Portfolio Manager Andrew B.J. Chorlton, CFA

  

Fund Outlook & Commentary (2:31)
Portfolio Manager Julio Bonilla

Performance

Performance (%)
% (as of 8/31/2018)
Average Annual Total Returns % (as of 8/31/2018)
YTD 1YR 3YR 5YR 10YR SI
Hartford Schroders Tax-Aware Bond  I -0.51 0.05 2.82 5.53 --- 4.65
Benchmark 0.25 0.49 2.71 4.12 --- ---
Morningstar Muni National Intermediate Category 0.08 0.09 2.08 3.00 --- ---
Performance (%)
% (as of 6/30/2018)
Average Annual Total Returns % (as of 6/30/2018)
YTD 1YR 3YR 5YR 10YR SI
Hartford Schroders Tax-Aware Bond  I -0.98 0.69 2.90 4.73 --- 4.70
Benchmark -0.25 1.56 2.85 3.53 --- ---
Morningstar Muni National Intermediate Category -0.30 1.07 2.18 2.60 --- ---
SI = Since Inception. Fund Inception: 10/03/2011
Operating Expenses:   Net  0.47% |  Gross  0.59%

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 8/31/2018)
[{"date":"2018/08/31","value":"13444"},{"date":"2018/07/31","value":"13421"},{"date":"2018/06/30","value":"13387"},{"date":"2018/05/31","value":"13399"},{"date":"2018/04/30","value":"13280"},{"date":"2018/03/31","value":"13355"},{"date":"2018/02/28","value":"13310"},{"date":"2018/01/31","value":"13383"},{"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

Reflects Class A, excluding sales charges. If sales charges and taxes had been included, the value would have been lower. Results for other classes will vary.

I-Share Morningstar Ratings
(as of 8/31/2018)
  • Overall
    infoIcon:
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 8/31/2018
Net Assets $227 million
# of Holdings 187
Turnover (6/30/2018) 138%
Dividend Frequency Monthly
Holdings Characteristics
(as of 8/31/2018)
Fund
% Non-Investment Grade 0%
% Not Rated 1%
Effective Duration 6.43 yrs.

Tax Exempt Municipal Sector Exposure

(as of 8/31/2018)
label currentpercentage
General Obligation 19.9
Etm/Pre-Refunded 15.8
Utilities 9.0
Transportation 8.4
Leasing 5.6
Corp Supported 5.2
Other Revenue 4.7
Sales Tax Revenue 4.1
Housing 2.8
Higher Education 2.8
Fed Agency 2.8
Healthcare 1.8
Education 1.2
Floating Rate Bonds 0.0
Yields
As of Date 8/31/2018
30 Day SEC Yield 2.29%
Unsubsidized 30-Day SEC Yield 2.14%
Fund Essentials
Inception Date 10/03/2011
Symbol STWTX
CUSIP 41665H805
Fund Number 1802

Top Ten Issuers (%)

(as of 8/31/2018)
label percentageholding
Fayetteville Metropolitan Housing Auth 3.27
New York State Dormitory Auth 3.25
Patriots Energy Group Financing Agcy., SC 2.98
Pennsylvania Housing Finance Agcy. 2.61
Texas State Water Dev Board 2.43
U.S. Treasury Notes 2.32
Denton Independent School Dist. 1.95
Dist. of Columbia Water & Sewer Auth. 1.89
Main Street, GA, Natural Gas, Inc. 1.85
Ohio Turnpike & Infrastructure Commission 1.82
Total Portfolio % 24.37

Sector Exposure

(as of 8/31/2018)
label currentpercentage
Tax Exempt Municipal 84%
Financial 7%
Industrial 4%
US Treasuries 3%
Cash and Cash Equivalents 2%
Non-US and Non-UK Agencies 0%
Taxable Muni 0%

Credit Exposure (%)

(as of 8/31/2018)
label value
Aaa/AAA 41.2
Aa/AA 30.0
A 18.3
Baa/BBB 7.6
Ba/BB 0.0
B 0.0
Caa/CCC or lower 0.0
Not Rated 1.3
Cash & Cash Equivalents 1.6

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

Environmental, Social, and Governance Policy for Listed Assets 

Wed Sep 12 09:30:00 EDT 2018
A detailed explanation of Schroders Investment Management's approach to ESG.
pdf

Being Active in Fixed Income 

Tue Aug 21 12:42:00 EDT 2018
You shouldn’t simply go through the motions at the gym—or with your fixed-income portfolio.
pdf

Shelter From the Storm 

Wed Jul 18 12:42:00 EDT 2018
A fixed-income forecast for a rising-rate world.

Literature

Fund Literature

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Fact Sheet

06/30/2018 | pdf
Get FINRA Letter

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Fund Story

06/30/2018 | pdf
Get FINRA Letter

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Summary Prospectus

03/01/2018 | pdf

Available For
Download Only

Pitchbook

06/30/2018 | pdf

Available For
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Semi Annual Report

04/30/2018 | pdf

Available For
Download Only

Statutory Prospectus

03/01/2018 | pdf

Available For
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Annual Report

10/31/2017 | pdf

Available For
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SAI

03/01/2018 | pdf

Available For
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A WORD ABOUT RISK

 

Investing involves risk, including the possible loss of principal. There is no guarantee a fund will achieve its stated objective. 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. Mortgage related- 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 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. Municipal securities may be adversely impacted by state/local, political, economic, or market conditions; these risks may be magnified if The Fund focuses its assets in municipal securities of issuers in a few select states. 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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