Hartford Funds today announced that it has introduced the Hartford AARP Balanced Retirement Fund. Sub-advised by Wellington Management Company LLP, the Hartford AARP Balanced Retirement Fund seeks to provide long-term total return while reducing downside risk and the impact of inflation on retirement accumulations.
The new Fund expands Hartford Funds’ lineup of multi-strategy mutual funds.
“For investors approaching or already in retirement, it’s critical to develop a well-diversified portfolio that seeks to protect purchasing power and principal while maintaining opportunity for growth,” said Vernon Meyer, Chief Investment Officer of Hartford Funds. “We are thrilled to leverage Wellington’s investment platform to develop a multi-asset solution that offers investors the potential for both capital accumulation and loss mitigation during the retirement and near-retirement years.”
The Fund will primarily invest in a broad range of equity and equity-related securities, debt securities, structured products, derivatives, money market instruments, and other investments, including other mutual funds and ETFs. The Fund’s investment strategy is intended to generate real total return, with an emphasis on downside mitigation for investors in or near retirement, who have less tolerance for significant declines in the market, but also must generate real returns to meet spending needs.
Christopher J. Goolgasian, Managing Director and Portfolio Manager at Wellington Management, will serve as the Fund’s portfolio manager.
“Financial security in retirement has always been at the heart of AARP’s social mission. Employees nearing retirement need investment options designed to meet their specific needs. Many have saved and invested for decades and are now asking themselves, ‘What do I do with my money now, with retirement just around the corner?’ Hartford Funds has designed this product to help address that need,” said John Larew, SVP Branded Products for AARP Services, Inc.
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 line-up includes more than 55 mutual funds in a variety of styles and asset classes, as well as a variety of multifactor and active 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. Excluding affiliated funds of funds, as of March 31, 2019, Hartford Funds Management Company, LLC and its wholly owned subsidiary, Lattice Strategies LLC, had approximately $117.6 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 Company, LLP, is one of the world’s largest independent investment management firms, overseeing US$1,072 billion as of March 31, 2019. As a private firm whose sole business is investment management, it seeks a long-term view and alignment of its interests with those of its clients. The firm’s investment solutions are built on the strength of proprietary, independent research and span nearly all segments of the global capital markets, including equity, fixed income, multi-asset, and alternative strategies. Wellington Management serves clients in more than 60 countries. Firm assets include assets under management and non-discretionary assets.
AARP is the nation’s largest nonprofit, nonpartisan organization dedicated to empowering Americans 50 and older to choose how they live as they age. With nearly 38 million members and offices in every state, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands, AARP works to strengthen communities and advocate for what matters most to families with a focus on health security, financial stability and personal fulfillment. AARP also works for individuals in the marketplace by sparking new solutions and allowing carefully chosen, high-quality products and services to carry the AARP name. As a trusted source for news and information, AARP produces the nation's largest circulation publications, AARP The Magazine and AARP Bulletin. To learn more, visit www.aarp.org or follow @AARP and @AARPadvocates on social media.
About AARP Services Inc.
AARP Services Inc., founded in 1999, is a wholly-owned taxable subsidiary of AARP. AARP Services manages the provider relationships for and performs quality control oversight of the wide range of products and services that carry the AARP name and are made available by independent providers as benefits to AARP’s millions of members. The provider offers currently span health products, financial products, travel and leisure products, and life event services. Specific products include Medicare supplemental insurance; credit cards, auto and home, mobile home and motorcycle insurance, life insurance and annuities; member discounts on rental cars, cruises, vacation packages and lodging; special offers on technology and gifts; pharmacy services and legal services. AARP Services also engages in new product development activities for AARP.
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 2018 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.
AARP and the AARP Logo are registered trademarks of AARP used under license by Hartford Funds. All other trademarks or service marks are the property of their respective owners. AARP and Hartford Funds are not affiliated.
Non-Affiliation Disclaimer: Hartford Funds Management Company, LLC (“HFMC”) and The Hartford Mutual Funds, Inc. have entered into a licensing arrangement with AARP under which AARP receives a royalty for licensing its brand for the Hartford AARP Balanced Retirement Fund. Hartford AARP Balanced Retirement Fund is managed by HFMC, an investment adviser registered with the U.S. Securities and Exchange Commission (“SEC”) and distributed by Hartford Funds Distributor, LLC, a broker-dealer registered with the SEC and an affiliate of HFMC. HFMC and its affiliates are not affiliated with AARP and its affiliates. AARP and its affiliates are not broker-dealers or investment advisers and are not acting in any such capacity with respect to the Hartford AARP Balanced Retirement Fund. AARP and its affiliates do not offer, recommend, or endorse the Hartford AARP Balanced Retirement Fund, HFMC, or any of its affiliates, and are not making any recommendations regarding an investment in the Fund.
Important Risks: Investing involves risk, including the possible loss of principal. Security prices fluctuate in value depending on general market and economic conditions and the prospects of individual companies. The Fund may allocate a portion of its assets to specialist portfolio managers, which may not work as intended. ● Fixed income security risks include credit, liquidity, call, duration, and interest-rate risk. As interest rates rise, bond prices generally fall. ● Investments in high-yield (“junk”) bonds involve greater risk of price volatility, illiquidity, and default than higher-rated debt securities. ● Loans can be difficult to value and less liquid than other types of debt instrument; they are also subject to nonpayment, collateral, bankruptcy, default, extension, prepayment and insolvency risks. ● Investments in Equity Linked Notes (ELNs) are subject to interest, credit, management, counterparty, liquidity, and market risks, and as applicable, foreign security and currency risks. ● Mortgage related- and asset-backed securities’ risks include credit, interest-rate, prepayment, and extension risk. ● Derivatives are generally more volatile and sensitive to changes in market or economic conditions than other securities; their risks include currency, leverage, liquidity, index, pricing, and counterparty risk. ● For dividend-paying stocks, dividends are not guaranteed and may decrease without notice. ● Foreign investments may be more volatile and less liquid than U.S. investments and are subject to the risk of currency fluctuations and adverse political and economic developments. These risks may be greater for investments in emerging markets. ● Restricted securities may be more difficult to sell and price than other securities.
Diversification does not ensure a profit or protect against a loss in a declining market.
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.
Mutual funds are distributed by Hartford Funds Distributors, LLC (HFD), Member FINRA. Exchange-traded products are distributed by ALPS Distributors, Inc. (ALPS). Advisory services are provided by Hartford Funds Management Company, LLC (HFMC) and its wholly owned subsidiary, Lattice Strategies, LLC (Lattice). Certain funds are sub-advised by Wellington Management Company LLP or Schroder Investment Management North America Inc. Schroder Investment Management North America Ltd. serves as a secondary sub-adviser to certain funds. Hartford Funds refers to HFD, HFMC, and Lattice, which are not affiliated with any sub-adviser or ALPS.