The Hartford Mutual Funds' board of directors approved moving 11 fixed income funds to sub-advisor Wellington Management. The move is part of The Hartford's previously announced strategy to accelerate growth in the mutual funds business. This includes expanding the relationship with Wellington Management to serve as the sole sub-advisor for all the funds, pending a fund-by-fund review by the board.
"Aligning more closely with a well-respected advisor like Wellington positions us well to drive significant growth and to continue delivering value to our mutual fund shareholders in all types of markets," said James Davey, executive vice president of Mutual Funds for The Hartford.
The transferring funds are currently managed by Hartford Investment Management Company, which presently serves as sub-advisor for 31 of The Hartford Mutual Funds' 77 funds.
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