The Hartford has selected Boston-based Wellington Management for accelerating its mutual fund business growth.
As per the agreement, Wellington will serve as the sole sub-advisor for The Hartford’s mutual funds, including both equity and fixed income.
Currently, Wellington serves as the sub-advisor for 45 of The Hartford Mutual Funds’ 77 funds, in addition to being the primary manager for the latter’s equity funds.
The Hartford having selling agreements with 1000 firms till date, also plans to equip its distribution team with 50 employees over the next several months.
The Hartford Investment Management Company (HIMCO) currently serving as sub-advisor for 31 funds under The Hartford Mutual Funds management also manages the general account investment portfolio and institutional third-party assets of Hartford.