RADNOR, Pa.--(BUSINESS WIRE)--Hartford Funds and Schroders announced today that they have entered into a strategic relationship to expand Hartford Funds’ investment platform. The relationship allows Hartford Funds to provide a broader, more diverse set of actively managed mutual funds to advisors and their clients, and enhances Schroders’ growth potential in the U.S intermediary channel. The relationship will involve Hartford Funds adopting 10 of Schroders’ existing US mutual funds, with potential for the partnership to expand over time. The funds, which include equity, fixed income and multi-asset investments, collectively have $2.2 billion assets under management as of March 31, 2016. The adopted funds will be sub-advised by Schroders and renamed ‘Hartford Schroders Funds’.
“This relationship will allow us to expand the breadth of our investment capabilities and continue to deliver quality solutions to U.S. investors, both now and in the future,” said Jim Davey, President of Hartford Funds. “Schroders’ history of product innovation and disciplined investment processes reflects our belief in differentiated, long-term thinking that helps investors meet their financial goals.”
Schroders operates across 38 offices in 28 countries around the world, with more than $466.9 billion in assets under management as of March 31, 2016. With this additional global reach and expertise, Hartford Funds’ existing actively managed investment platform will be enhanced by leveraging Schroders’ extensive global network of over 420 investment professionals.
“Hartford Funds is an ideal strategic partner for Schroders to accelerate our growth plans in the U.S. intermediary market,” said Karl Dasher, Chief Executive Officer of Schroders North America. “While our investment solutions will help expand Hartford Funds’ platform, Hartford Funds’ reach and scale will allow a broader spectrum of investors across the U.S. to gain better access to our capabilities.”
The fund adoptions are expected to be complete by the end of the third quarter of 2016, subject to shareholder approval.
About Schroders
Schroders is a global asset management business with $466.9 billion under management as of March 31, 2016. Its clients are major financial institutions including pension funds, banks and insurance companies, local and public authorities, governments, charities, high net worth individuals and retail investors.
With one of the largest networks of offices of any dedicated asset management company, Schroders operates from 38 offices in 28 countries across Europe, the Americas, Asia and the Middle East. Schroders has developed under stable ownership for over 200 years and long-term thinking governs its approach to investing, building client relationships and growing its business.
About Hartford Funds
Founded in 1996, Hartford Funds is a leading provider of mutual funds 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 MIT AgeLab and leading practice management experts, Hartford Funds delivers insight into the latest demographic trends and investor behavior. Hartford Funds offers a diverse line-up of more than 45 mutual funds, primarily sub-advised by Wellington Management, designed to address the challenges investors face and includes equity, fixed-income, multi-strategy, and alternative investments. The Company has mutual fund assets under management of $73.6 billion as of March 31, 2016 (excluding assets used in certain annuity products). For more information about the fund family, visit www.hartfordfunds.com.
