Hartford Municipal Income Fund announces plans to launch

By Toni Weeks

San Luis Obispo, Calif., March 13 – Hartford Mutual Funds, Inc. announced in an N-1A filing with the Securities and Exchange Commission its plans to offer a new municipal fund, the Hartford Municipal Income Fund.

The fund will seek to provide a high level of current income that is generally exempt from federal income taxes and long-term total return by investing at least 80% of its net assets in municipal securities. Up to 35% of the fund’s net assets may be invested in non-investment-grade municipal securities.

Brad W. Libby and Timothy D. Haney will be the portfolio managers.

The fund will offer class A, class C and class I shares. The ticker symbols have not been set.

Shareholder fees will be comprised of a maximum sales load of 4.5% on class A shares and a maximum deferred sales load of 1% on class C shares. Including management fees of 0.35%, and taking into account a fee waiver and/or expense reimbursement with the investment adviser, total annual fund operating expenses are expected to be 0.69% for class A, 1.44% for class C and 0.44% for class I shares.

Radnor, Pa.-based Hartford Funds Management Co., LLC will be the fund’s investment adviser.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.