RADNOR, Penn.--(BUSINESS WIRE)--Hartford Funds today announced that Dr. Robert M. Gavin is retiring from the Hartford Mutual Funds Board of Directors effective August 16, 2015. Dr. Gavin joined the Board in 2002 and began serving as Chairman in 2004.
Dr. Gavin joined Hartford Funds following The Hartford’s acquisition of Fortis Funds in 2001, which was a milestone in the growth of The Hartford’s mutual fund family. Under his leadership, Hartford Funds’ assets under management grew from nearly $26 billion on December 31, 2004 to $65.9 billion as of June 30, 2015*. During Dr. Gavin’s tenure, he led the Fund family through 11 years of market cycles, including the financial crisis of 2008, and used a highly collaborative approach to engage the board and fund leadership and guide decisions in the best interest of the Funds’ shareholders.
“Dr. Gavin is a true consensus-builder,” said Jim Davey, President of Hartford Funds. “He smartly engaged diverse viewpoints and aligned the Fund board around strategic decisions that continue to serve our Fund shareholders today. His deep experience in the academic field paired with a robust knowledge of mutual fund governance and oversight contributed to his highly effective Chairmanship over the past 11 years. On behalf of our Fund shareholders, I wish to express gratitude for his contributions, invaluable leadership and dedicated service.”
Prior to serving on the Fund board, Dr. Gavin was the President of Macalester College in St. Paul, MN from 1984 to 1996. He then served as Interim President of Haverford College from July 1996 to July 1997, then the President of Cranbrook Education Community from July 1997 to September 2001, and had tenure as the Interim President of the Science Museum of Minnesota from June 2003 to February 2004. He is also an active contributor to the Mutual Fund Directors Forum.
“I’d like to thank Dr. Gavin for his tireless commitment to serving our Fund shareholders,” said Lynn S. Birdsong, Chairman of the Hartford Funds Investment Committee. “Dr. Gavin was a constant advocate for our investors and will leave a lasting impact on Hartford Funds.”
Dr. Gavin’s retirement from the Board is in accordance with the Funds’ mandatory retirement policy. The Board will announce Dr. Gavin’s successor in the coming days.
*Comprises Hartford Mutual Fund (HMF) assets and funds only, from December 31, 2004 to June 31, 2015. HLS Funds are excluded.
About Hartford Funds
Founded in 1996, Hartford Funds is a leading provider of mutual funds and 529 college savings plans. Using its human-centric investing approach, Hartford Funds creates strategies and tools designed to address the needs and wants of investors. Leveraging partnerships with MIT AgeLab and leading practice management experts, Hartford Funds delivers insight into the latest demographic trends and investor behavior. Hartford Funds offers a diverse line-up of more than 45 mutual funds, sub-advised by Wellington Management, designed to address the challenges investors face and includes equity, fixed-income, multi-strategy, and alternative investments. The Company has mutual fund assets under management of $76.3 billion as of June 30, 2015 (excluding assets used in certain annuity products). For more information about the fund family, visit www.hartfordfunds.com.
All investments are subject to risks, including possible loss of principal.
Investors should carefully consider the investment objectives, risks, charges, and expenses of Hartford Funds before investing. This and other information can be found in the prospectus and summary prospectus, which can be obtained by calling 888-843-7824 (retail) or 800-279-1541 (institutional). Investors should read them carefully before they invest.
Hartford Funds are underwritten and distributed by Hartford Funds Distributors, LLC. Hartford Funds Distributors, LLC is a subsidiary of The Hartford Financial Services Group Inc.
“The Hartford” is The Hartford Financial Services Group Inc. and its subsidiaries. Wellington Management Company, LLP is a SEC-registered investment adviser and an independent and unaffiliated sub-adviser to Hartford Funds.
Some of the statements in this release may be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. We caution investors that these forward-looking statements are not guarantees of future performance, and actual results may differ materially. Investors should consider the important risks and uncertainties that may cause actual results to differ. These important risks and uncertainties include those discussed in The Hartford’s Quarterly Reports on Form 10-Q, our 2014 Annual Report on Form 10-K and the other filings The Hartford makes with the Securities and Exchange Commission. We assume no obligation to update this release, which speaks as of the date issued.
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