Hartford Growth Includes Two New Muni Funds

To expand its municipal product line, Hartford Funds has added two new funds for shareholders seeking short duration and current income.

The launch of the two funds - the Hartford Municipal Short Duration Fund (HMJAX) and Hartford Municipal Income Fund (HMKAX) - will complement the firm's existing Hartford Municipal Opportunities Fund (HHMAX), the firm said Monday in a press release.

The new funds will purchase differing levels of investment-grade and non-investment grade securities from a variety of states and sectors, and will be focused on delivering shareholders current income and long-term total return, the firm said.

The short-duration fund will be benchmarked against the Barclays Municipal Bond Short 1-5 Year Index, while the income fund will be benchmarked against the Barclays Municipal Bond Index.

Together, the three funds complete a suite of short-duration, intermediate-duration, and income-focused options, and will be focused primarily on deep credit research and sector rotation, according to the firm.

 "We see our suite of municipal bond funds as an extremely attractive investment option for those seeking income generally exempt from federal income taxes," said Thomas McConnell, head of Product Innovation and Implementation, in the release.

The funds are sub-advised by Wellington Management, and will be managed by Brad W. Libby, managing director and credit analyst and Timothy D. Haney, senior managing director.  

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