Hartford Mutual Funds launches two new municipal funds

By Toni Weeks

San Luis Obispo, Calif., June 8 – Hartford Mutual Funds, Inc. has launched two new municipal funds, the Hartford Municipal Income Fund (Symbol: HMKAX) and the Hartford Municipal Short Duration Fund (Symbol: HMJAX), according to a press release. The funds are geared toward investors who seek income generally exempt from federal income taxes.

“We know that paying taxes on investments is an emotional pain point with investors,” Thomas McConnell, head of Product Innovation and Implementation of Hartford Funds, said in the release.

The two new funds, strategically aligned with the existing Hartford Municipal Opportunities Fund, are designed to generate current income generally exempt from federal income taxes, while also delivering long-term total return. Each fund is focused on purchasing differing levels of investment-grade and non-investment-grade municipal securities across a diverse array of states and sectors at different maturities and durations. The Hartford Municipal Income Fund will be benchmarked against the Barclays Municipal Bond index, and the Hartford Municipal Short Duration Fund will be benchmarked against the Barclays Municipal Bond Short 1-5 Year index.

Brad W. Libby and Timothy D. Haney, from subadviser Wellington Managements’ municipal bond team, are the portfolio managers of the three funds.

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

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