• Products
  • Insights
  • Practice Management
  • Resources
  • About Us

This quarter, I discuss three familiar investment debates where rigid “either/or” thinking may lead investors to overlook the possibilities of “and”: active vs. passive, US vs. non-US, and public vs. private. In a recent poll, we asked allocators which of these causes them the most stress: The top choices were active vs. passive (41%) and public vs. private (34%), followed by US vs. non-US (19%) and other (5%; e.g., growth vs. value).*

For each debate, I weigh the arguments on both sides before outlining investment ideas to help move beyond the false dichotomy.

 

VIEW PDF

 

 * Wellington Management poll conducted at periodic webinar in July 2026. Responses reflect participant views at the time of the meeting, are subject to change, and are for illustrative purposes only.

Important Risks: Investing involves risk, including the possible loss of principal. Fixed income security risks include credit, liquidity, call, duration, event, inflation 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. • Focusing on one or more sectors, including the information technology, consumer discretionary and communication services sectors, may subject investors to increased volatility and risk of loss if adverse developments occur. • Private equity, private credit and private infrastructure investments involve substantial risk, including the possible loss of principal. These investments may be illiquid, difficult to value and subject to extended holding periods. • Private equity investments are subject to risks associated with the financial and operating performance of portfolio companies and the ability to successfully execute exit strategies. • Private credit investments are subject to credit and default risk, including the possibility that borrowers may fail to make required interest or principal payments. • Private infrastructure investments are subject to risks associated with the development, construction, operation and maintenance of infrastructure assets, as well as changes in economic conditions, demand, regulation, government policies and environmental factors. • Private investments may also involve leverage, limited transparency and less publicly available information than traditional publicly traded investments.• Diversification does not ensure a profit or guarantee against a loss. 

The views expressed here are those of the author and are based on available information and are subject to change without notice. This information should not be considered as investment advice or a recommendation to buy/sell any security. In addition, it does not take into account the specific investment objectives, tax and financial condition of any specific person. Portfolio positioning is at the discretion of the individual portfolio management teams; individual portfolio management teams and different fund sub-advisers may hold different views and may make different investment decisions for different clients or portfolios. This material and/or its contents are current as of the time of writing and may not be reproduced or distributed in whole or in part, for any purpose, without the express written consent of Wellington Management or Hartford Funds.

WP925 6028877

Insight from our sub-adviser, Wellington Management
Author Headshot
Multi-Asset Strategist

The material on this site is for informational and educational purposes only. The material should not be considered tax or legal advice and is not to be relied on as a forecast. The material is also not a recommendation or advice regarding any particular security, strategy or product. Hartford Funds does not represent that any products or strategies discussed are appropriate for any particular investor so investors should seek their own professional advice before investing. Hartford Funds does not serve as a fiduciary. Content is current as of the publication date or date indicated, and may be superseded by subsequent market and economic conditions.

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.

Mutual funds are distributed by Hartford Funds Distributors, LLC (HFD), Member FINRA|SIPC. ETFs are distributed by ALPS Distributors, Inc. (ALPS). Advisory services may be provided by Hartford Funds Management Company, LLC (HFMC) or its wholly owned subsidiary, Lattice Strategies LLC (Lattice). Certain funds are sub-advised by Wellington Management Company LLP and/or Schroder Investment Management North America Inc (SIMNA). Schroder Investment Management North America Ltd. (SIMNA Ltd) serves as a secondary sub-adviser to certain funds. HFMC, Lattice, Wellington Management, SIMNA, and SIMNA Ltd. are all SEC registered investment advisers. The funds and other products referred to on this Site may be offered and sold only to persons in the United States and its territories.

Hartford Funds refers to HFD, Lattice, and HFMC, which are currently not affiliated with any sub-adviser or ALPS.

On June 3, 2026, The Hartford Insurance Group, Inc. (“The Hartford”) and Wellington announced that they had reached a definitive agreement under which Wellington Investment Advisors Holdings, LLP, Wellington’s corporate parent, will acquire Hartford Funds. Upon closing Hartford Funds will be integrated into Wellington’s U.S. Wealth business. The deal is expected to close in the first quarter of 2027, subject to regulatory and fund approvals. Upon closing, Hartford Funds would become an affiliate of Wellington. For more information, click here.

© Copyright 2026 Hartford Funds Management Group, Inc. All Rights Reserved. Not FDIC Insured | No Bank Guarantee | May Lose Value