As inflation has reached multi-decade highs, dominated headlines, and hit consumers’ pockets, there has understandably been a lot of attention paid to near-term drivers of higher prices. The narrative has centered on the fiscal reaction to the pandemic slowdown, supply-chain bottlenecks, and Russia’s invasion of Ukraine, but we believe there's a more structural story worth paying attention to. While headline Consumer Price Index (CPI)^* may abate, those structural drivers continue to pose a risk to portfolios and may be worth hedging against.

^* The Consumer Price Index is a measure of change in consumer prices as determined by the US Bureau of Labor Statistics.

Effective 5/2/22, the Fund (formerly known as The Hartford Global Real Asset Fund) changed its name.

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. The Fund may allocate a portion of its assets to specialist portfolio managers, which may not work as intended. • Investments in the commodities market and the natural-resource industry may increase the Fund’s liquidity risk, volatility and risk of loss if adverse developments occur. • The value of inflation-protected securities (IPS) generally fluctuates with changes in real interest rates, and the market for IPS may be less developed or liquid, and more volatile, than other securities markets. • Fixed income security risks include credit, liquidity, call, duration, and interest-rate risk. As interest rates rise, bond prices generally fall. • Foreign investments may be more volatile and less liquid than US investments and are subject to the risk of currency fluctuations and adverse political, economic and regulatory developments. These risks may be greater, and include additional risks, for investments in emerging markets. • 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. • By investing in a Cayman subsidiary, the Fund is indirectly exposed to the risks associated with a non-US subsidiary and its investments. • The value of the underlying real estate of real estate related securities may go down due to various factors, including but not limited to, strength of the economy, amount of new construction, laws and regulations, costs of real estate, availability of mortgages and changes in interest rates. • The Fund may have high portfolio turnover, which could increase its transaction costs and an investor’s tax liability.

Diversification does not ensure a profit or protect against a loss in a declining market.

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