Hartford hands over more mutual funds to subadviser Wellington

By Toni Weeks

San Diego, March 29 - The board of directors of Hartford Mutual Funds approved on Tuesday the appointment of Boston-based Wellington Management Co. LLP as subadviser for more of its funds, according to a 497 filing with the Securities and Exchange Commission.

As previously reported, Hartford plans to eventually name Wellington Management as the subadviser for all of its funds, pending a fund-by-fund review of each fund. The switch in subadvisers to Wellington from existing subadviser Hartford Investment Management Co. is part of Hartford's strategy to accelerate growth in its mutual fund business.

At the meeting, the board approved Wellington as subadviser to the Hartford Small/Mid Cap Equity Fund and the Hartford Small/Mid Cap Equity HLS Fund, effective June 4. David J. Elliott is portfolio manager of both funds.

The board also named Wellington subadviser to the Hartford Floating Rate Fund and the Hartford Floating Rate High Income Fund. Existing portfolio managers Michael Bacevich and Frank Ossino will remain as managers to the funds.

In addition, the Hartford Balanced Allocation Fund and the Hartford Conservative Allocation Fund will be transferred to the new subadviser on June 30. Richard P. Meagher and Wendy M. Cromwell are the portfolio managers to both funds.

Hartford also named Wellington as subadviser to its target funds, for which Rich A. Wurster and Stephen A. Gorman are the portfolio managers. These funds, which will be transferred on June 30, are as follows:

• Hartford Target Retirement 2010 Fund;

• Hartford Target Retirement 2015 Fund;

• Hartford Target Retirement 2020 Fund;

• Hartford Target Retirement 2025 Fund;

• Hartford Target Retirement 2030 Fund;

• Hartford Target Retirement 2035 Fund;

• Hartford Target Retirement 2040 Fund;

• Hartford Target Retirement 2045 Fund; and

• Hartford Target Retirement 2050 Fund.

Simsbury, Conn.-based HL Investment Advisors, LLC is currently the investment adviser to the funds.

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