The Hartford is interested in making an acquisition in order to grow assets its chief executive, Ramani Ayer said at the Reuters Finance Summit in New York on Monday. Reuters reports that Ayer said an optimal acquisition would be in the small to midcap space, but added that it is difficult to do as smaller firms are trying to stay independent and larger rivals, such as Legg Mason, are looking to buy. Ayer also said he would like to see Hartford's mutual fund AUM cross the $100 billion dollar mark, but declined to give a time frame. Hartford currently manages about $50 million.  

Correction: A previous version of this story incorrectly stated that Hartford managed $50 million in assets.

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