RADNOR, Pa.--(BUSINESS WIRE)--Hartford Funds and Schroder Investment Management North America today announced the finalization of their strategic relationship first announced in June 2016, whereby Hartford Funds has adopted ten of Schroders’ US mutual funds. Hartford Funds Management Company, LLC will serve as the investment adviser to the new Hartford Schroders Funds, with Schroder Investment Management North America Inc. serving as subadviser. The portfolio management teams for the funds remain the same.
The relationship allows Hartford Funds to provide a broader, more diverse set of actively managed mutual funds to advisors and their clients, and enhances Schroders’ growth potential in the US intermediary and retail channels. The funds collectively represent $2.9 billion in assets under management across equity, fixed income, multi-asset and alternative strategies, as of September 30, 2016.
As part of this strategic relationship, the following Schroder Funds are being adopted and renamed as Hartford Schroders Funds:
|Schroder Fund||New Hartford Schroders Funds|
|Schroder US Small and Mid Cap Opportunities Fund||Hartford Schroders US Small/Mid Cap Opportunities Fund|
|Schroder US Opportunities Fund||Hartford Schroders US Small Cap Opportunities Fund|
|Schroder International Multi-Cap Value Fund||Hartford Schroders International Multi-Cap Value Fund|
|Schroder Emerging Market Equity Fund||Hartford Schroders Emerging Markets Equity Fund|
|Schroder International Alpha Fund||Hartford Schroders International Stock Fund|
|Schroder Fund||New Hartford Schroders Funds|
|Schroder Broad Tax-Aware Value Bond Fund||Hartford Schroders Tax-Aware Bond Fund|
|Schroder Emerging Markets Multi-Sector Bond Fund||Hartford Schroders Emerging Markets Multi-Sector Bond Fund|
|Schroder Global Strategic Bond Fund||Hartford Schroders Global Strategic Bond Fund|
MULTI-ASSET & ALTERNATIVES
|Schroder Fund||New Hartford Schroders Funds|
|Schroder Absolute Return EMD and Currency Fund||Hartford Schroders Emerging Markets Debt and Currency Fund|
|Schroder Global Multi-Asset Income Fund||Hartford Schroders Income Builder Fund|
“The Hartford Schroders Funds are a perfect complement to our current offering,” said Jim Davey, President of Hartford Funds. “We look forward to a long-term and mutually beneficial relationship with Schroders, focused on delivering differentiated investment solutions that can help investors meet their financial goals.”
Among the products offered as part of this relationship, four of the ten funds had a Morningstar Overall Rating of 5 stars and two funds had a Morningstar Overall Rating of 4 stars (I-shares as of September 30, 2016)*. Additionally, 2016 marked a year of milestones for many of the funds. In March 2016, the predecessor funds to Hartford Schroders US Small/Mid Cap Opportunities Fund and the Hartford Schroders Emerging Markets Equity Fund each reached their 10-year anniversary. In August 2016 the predecessor fund to Hartford Schroders International Multi-Cap Value Fund reached its 10-year anniversary, and the predecessor fund to the Hartford Schroders Tax-Aware Bond Fund celebrated its 5-year track record on October 3, 2016. The strong performance reflects the value of Schroders’ rigorous active investment process and the strength of their investment teams.
“Through this important relationship, Schroders is expanding its reach in the US financial advisor market more than ten-fold,” said Karl Dasher, CEO of Schroders North America. “By leveraging Hartford Funds’ investment and distribution platform we anticipate significant synergies as well as an enhanced ability to jointly deliver innovative solutions to the US financial advisor market.”
For more information on the Hartford Schroders Funds offering, please visit: https://www.hartfordfunds.com/home.html
Schroders is a global asset management company with $459.6 billion under management as of June 30, 2016. Its clients are major financial institutions including pension funds, banks and insurance companies, local and public authorities, governments, charities, high net worth individuals and retail investors.
With one of the largest networks of offices of any dedicated asset management company, Schroders operates from 38 offices in 28 countries across Europe, the Americas, Asia and the Middle East. Schroders has developed under stable ownership for over 200 years and long-term thinking governs its approach to investing, building client relationships and growing its business. For more information about Schroders, visit www.schroderfunds.com.
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.
As of October 24, 2016, the firm’s line-up includes more than 55 mutual funds in a variety of styles and asset classes, and five strategic beta ETFs. Its mutual funds (with the exception of certain fund of funds) are sub-advised by Wellington Management or Schroder Investment Management North America Inc. The strategic beta ETFs offered by Hartford Funds are designed to help address investors’ evolving needs by leveraging a unique risk-optimized approach, which identifies risks within each asset class and then deliberately and systematically re-allocates capital toward risks more likely to enhance return potential. Hartford Funds has mutual fund assets under management of $74.9 billion as of June 30, 2016 (excluding assets used in certain annuity products). For more information about our investment family, visit www.hartfordfunds.com.
All investments are subject to risk, including the possible loss of principal. Fixed Income risks include credit, liquidity, call, duration, and interest-rate risk. As interest rates rise, bond prices generally fall; these risks are currently heightened due to the historically low interest rate environment. Foreign investments can be riskier than US investments due to the adverse effects of currency exchange rates, differences in market structure and liquidity, as well as specific country, regional, and economic developments. These risks are generally greater for investments in emerging markets. Small- and mid-cap securities can have greater risk and volatility than large-cap securities and may be less liquid than other types of investments.
Hartford Funds refers to Hartford Funds Management Group, Inc., and its subsidiaries, including the mutual funds’ investment manager, Hartford Funds Management Company, LLC (HFMC), the mutual funds’ distributor, Hartford Funds Distributors, LLC, Member FINRA, as well as Lattice Strategies LLC, a wholly owned subsidiary of HFMC, which serves as the adviser to exchange-traded funds (ETFs). Certain mutual funds are sub-advised by Wellington Management Company LLP or Schroder Investment Management North America Inc. and/or Schroder Investment Management North America Limited. ETFs are distributed by ALPS Distributors, Inc. (ALPS). Hartford Funds is not affiliated with any fund sub-adviser or ALPS.
Investors should carefully consider the investment objectives, risks, charges, and expenses of any fund before investing. This and other information can be found in the prospectus and, if applicable, the summary prospectus, which can be obtained by visiting www.hartfordfunds.com or by calling 888-843-7824 (retail) or 800-279-1541 (institutional). Investors should read them carefully before they invest.
“The Hartford” is The Hartford Financial Services Group Inc. (“HFSG”) and its subsidiaries. HFD is a subsidiary of The HFSG.
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 2015 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.
From time to time, The Hartford may use its website to disseminate material company information. Financial and other important information regarding The Hartford is routinely accessible through and posted on our website at http://ir.thehartford.com. In addition, you may automatically receive email alerts and other information about The Hartford when you enroll your email address by visiting the "Email Alerts" section at http://ir.thehartford.com.
*Source: Morningstar Ratings as of 9/30/2016. Past performance is no guarantee of future results. Hartford Schroders US Small/Mid Cap Opportunities Fund (SMDIX) had an Overall Rating of 5 stars among 383 funds in the Mid-Cap Blend Funds category. The Fund's 3-year rating was 5 stars with a category size of 383, the 5-year rating was 4 stars with a category size of 335, and the 10-year rating was 5 stars with a category size of 228. Hartford Schroders US Small Cap Opportunities Fund (SCUIX), had an Overall Rating of 5 stars among 655 funds in the Small Blend Funds category. The Fund's 3-year rating was 5 stars with a category size of 655, the 5-year rating was 4 stars with a category size of 570, and the 10-year rating was 5 stars with a category size of 387. Hartford Schroders Tax-Aware Bond Fund (STWTX), had an Overall Rating of 5 stars among 309 funds in the Municipal National Intermediate Funds category. The Fund's 3-year rating was 5 stars with a category size of 309. Hartford Schroders International Multi-Cap Value Fund (SIDNX), had an Overall Rating of 5 stars among 285 funds in the Foreign Large Value Funds category. The Fund's 3-year rating was 4 stars with a category size of 285, the 5-year rating was 4 stars with a category size of 236, and the 10-year rating was 5 stars with a category size of 144. Hartford Schroders International Stock Fund (SCIEX), had an Overall Rating of 4 stars among 715 funds in the Foreign Large Blend Funds category. The Fund's 3-year rating was 4 stars with a category size of 715, the 5-year rating was 4 stars with a category size of 634, and the 10-year rating was 4 stars with a category size of 382. Hartford Schroders Emerging Markets Equity Fund (SEMNX), had an Overall Rating of 4 stars among 602 funds in the Diversified Emerging Markets Funds category. The Fund's 3-year rating was 3 stars with a category size of 602, the 5-year rating was 3 stars with a category size of 435, and the 10-year rating was 4 stars with a category size of 190.
Morningstar ratings reflect historical risk-adjusted performance and are subject to change every month. Ratings are based on a risk-adjusted return measure that accounts for variations in monthly performance, emphasizing downward variations and rewarding consistent performance. The top ten percent of the funds in a category receive five stars, the next 22.5% four stars, the next 35% three stars, the next 22.5% two stars and the bottom 10% one star. The Overall Rating reflects a weighted average of a fund's 3-, 5- and 10-year (if applicable) risk adjusted performance. Other share classes may have different ratings. A 4- or 5-star rating does not necessarily imply that a fund achieved positive results for the period.
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