The head honchos at The Hartford are planning to more than double assets in the mutual fund family to $100 billion. That is a goal that Keith Sloane, the senior vice president of product development and product management is optimistic in reaching, according to the WSJ Fund Track column.

The insurance company-owned fund family currently has a tad more than $40 billion in its 51 mutual funds. Sloane told the paper that mutual fund sales grew 37 percent from the first quarter to the second quarter.

"I'm feeling very optimistic about the trends in our business," Sloane told the paper. "There's a lot of opportunity to grow a franchise with the right model and the right product."

One area that Hartford sees as an area for growth is building assets in fee-based programs at brokerage firms and in 401(k) plans. Hartford also now has a strong performing fund line-up which includes offerings subadvised by Wellington Management.

To meet the ambitious goal, Hartford has realigned its business to put its mutual fund, retirement and variable annuity units under one roof -- its newly formed investment and retirement division.  

Edited by: Sean Hanna, Editor in Chief


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