The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Hartford Suffers Fund Outflows Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, November 04, 2011

Hartford Suffers Fund Outflows

News summary by MFWire's editors

The market woes of the third quarter did not leave the Hartford's [see profile] mutual fund business unscathed. The Hartford-based insurer revealed in its Q3 earnings report that its wealth management arm suffered a seven percent year-over-year dip in assets under management, thanks in part to "net outflows in mutual funds" [see earnings call transcript]

Bloomberg Businessweek, Business Insurance, Daily Markets, Insurance Business Review and Insurance Journal all reported on the Hartford's earnings.

"Even with the tougher environment, mutual fund sales were up 46 percent," said Liam McGee, president, chairman and CEO, on the earnings call. "Mutual funds will continue to be an important part of the Hartford." The Hartford expects to finish the year with between $15 billion and $17 billion in gross mutual fund deposits, translating to between $3 billion and $5 billion in net outflows. 

Edited by: Neil Anderson, Managing Editor

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2020: Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2020
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use