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Rating:Q3 Net Sales are Down 4 Percent at Hartford Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, November 04, 2009

Q3 Net Sales are Down 4 Percent at Hartford

Reported by Armie Margaret Lee

Hartford chalked up $779 million in mutual fund net sales in the third quarter, down 4.5 percent from a year ago. Fund deposits totaled $3.1 billion, compared with $3.6 billion in the same period last year.

In June of this year, the Connecticut-based insurer created Hartford Life Distributors, a combined sales and distribution organization for its retirement and investment products, including mutual funds. Hartford formally unveiled the division, led by Kevin Connor, in early September.

For the fourth quarter, Hartford officials are forecasting deposits of between $3 billion and $3.5 billion, and net flows in the range of $800 million to $1.3 billion. 

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