a down quarter for its mutual fund business.
The firm's total Wealth Management assets under management declined 11 percent to $193.8 billion at Dec. 31, compared with $216.9 billion at Dec. 31, 2010, reflecting a reduction of AUM 14 percent in its non-proprietary mutual funds. The firm's mutual fund business experienced a 17 percent drop in assets to $20 billion over the same period.
As previously stated
by the Hartford's mutual fund board of directors, the company also said they intend to have Wellington Management Company
serve as the sole sub-advisor for The Hartford’s non-proprietary mutual funds. Wellington Management Company currently serves as the sub-advisor for 45 of The Hartford Mutual Funds' 77 funds.
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