Next week Wellington Management
will have larger mandates from Hartford Funds
. On Wednesday (July 21) Wellington will take over as the sole subadvisor for four of the insurer's mutual funds.
The funds taken over by Wellington include: Hartford Small Company Fund
; Hartford Small Company HLS Fund
(HIASX); Hartford SmallCap Growth Fund
and Hartford SmallCap Growth HLS Fund
The move means that Hartford Investment Management Company (HIMCo) will be dropped as a subadviser to the funds. Hartford's HLS Funds are used as underlying investments in the insurer's variable annuity products and are not available for direct retail investment.
HIMCo had taken on a co-subadvisor role for two Wellington small company funds when they reopened to investors on June 12, 2006.
The HIMCo PMs on the funds are Hugh Whelan and Kurt Cubbage.
Wellington is adding analysts -- Mammen Chally and Jamie Rome -- to the team it has picking stocks for the funds. Chally and Rome will be the sole PMs for the SmallCap Growth and SmallCap Growth HLS funds.
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