WAYNE, Pa.--(BUSINESS WIRE)--Hartford Funds, a leading global asset manager, announced today the expansion of its exchange-traded funds (ETFs) offerings with the launch of Hartford Quality Value ETF (Ticker symbol: QUVU). QUVU is the result of Hartford Funds’ first mutual fund to ETF conversion and will be an actively managed fully transparent equity ETF.
Hartford Quality Value ETF maintains the same philosophy, process, and portfolio management team as Hartford Quality Value Fund, the mutual fund from which it converted. It is a traditional large cap value fund that focuses on investing in high quality, undervalued companies believed to be in out-of-favor industries with less downside risk than the overall market.
“At Hartford Funds, we seek opportunities to make our investment solutions lineup as compelling as possible, including converting strategies to take advantage of efficiencies for shareholders such as the many offered in the ETF structure and we believe that QUVU can provide the marketplace with an attractive value investing strategy,” said Tom McConnell, Head of Product Innovation and Implementation at Hartford Funds.
QUVU is sub-advised by Wellington Management, which has been a trusted Hartford Funds sub-adviser for over 25 years. The Fund’s portfolio management team consists of Matthew G. Baker, Senior Managing Director and Equity Portfolio Manager, Nataliya Kofman, Senior Managing Director and Equity Portfolio Manager, and Brian J. Schmeer, CFA, Vice President and Equity Research Analyst. Collectively, they bring 64 years of industry experience, 43 of which at Wellington.
QUVU is listed on the CBOE BZX Exchange, Inc. and its current expense ratio is 0.45%.
For more information about the Hartford Quality Value ETF and the firm’s broad product suite, please visit hartfordfunds.com.
About Hartford Funds
Founded in 1996, Hartford Funds is a leading asset manager, which provides mutual funds, ETFs, 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 leading experts, Hartford Funds delivers insight into the latest demographic trends and investor behavior.
The firm’s product line-up includes more than 50 mutual funds and ETFs in a variety of styles and asset classes. 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. Excluding affiliated funds of funds, as of June 30, 2023, Hartford Funds’ investment advisory business had approximately $129.9 billion in discretionary and non-discretionary assets under management. For more information about our investment family, visit http://www.hartfordfunds.com.
About Wellington Management
Wellington Management is one of the world’s largest independent investment management firms, serving as a trusted adviser to over 2,400 clients in more than 63 countries. The firm manages more than US$1.1 trillion for pensions, endowments and foundations, insurers, family offices, fund sponsors, global wealth managers, and other clients. Wellington aspires to provide excellent service to clients through a unique combination of independence enabled by its distinctive private partnership model, diverse perspectives through its unified, multi-asset investment platform, and relentless curiosity and intellectual rigor fostered by its enduring collaborative culture.
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 2022 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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Important Risks: Investing involves risk, including the possible loss of principal. The net asset value (NAV) of the Fund’s shares may fluctuate due to changes in the market value of the Fund’s holdings which may in-turn fluctuate due to market and economic conditions. The Fund’s share price may fluctuate due to changes in the relative supply of and demand for the shares on an exchange. The Fund is actively managed and does not seek to replicate the performance of a specified index. ● Different investment styles may go in and out of favor, which may cause the Fund to underperform the broader stock market. ● For dividend-paying stocks, dividends are not guaranteed and may decrease without notice. ● To the extent the Fund focuses on one or more sectors, the Fund may be subject to increased volatility and risk of loss if adverse developments occur. ● Integration of environmental, social, and/or governance (ESG) characteristics into the investment process may not work as intended. • In certain instances, unlike other ETFs, the Fund may effect creations and redemptions partly or wholly for cash, rather than in-kind, which may make the Fund less tax-efficient and incur more fees than an ETF that primarily or wholly effects creations and redemptions in-kind.
Investors should carefully consider a fund’s investment objectives, risks, charges and expenses. This and other important information is contained in the fund’s prospectus and summary prospectus, which can be obtained by visiting hartfordfunds.com. Please read it carefully before investing
Expenses as shown in the Fund’s most recent prospectus.
ETFs are distributed by ALPS Distributors, Inc. (ALPS). Advisory services are provided by Hartford Funds Management Company, LLC (HFMC). Certain funds are sub-advised by Wellington Management Company LLP. HFMC and Wellington Management are SEC registered investment advisers. Hartford Funds refers to Hartford Funds Distributors, LLC, Member FINRA, and HFMC, which are not affiliated with any sub-adviser or ALPS.