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

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

Rating:Hartford Execs Will Email Routing List Email & Route  Print Print
Wednesday, March 21, 2012

Hartford Execs Will "Try to Double" Their Mutual Fund Biz

Reported by Neil Anderson, Managing Editor

Watch for the Hartford's [profile] executives to "try to double" the insurer's mutual fund business, even as they divest from a number of others like retirement plans. This morning the Hartford, Connecticut-based company revealed plans to sell offer several business lines to focus on three business lines: property and casualty insurance, group benefits, and mutual funds [see MFWire.com, 3/21/2012]. Then this afternoon Hartford chairman, president and CEO Liam McGee and executive vice president and chief financial officer Chris Swift talked to analysts about the shift [see slide presentation] [listen to a recording of the call].

"The mutual fund business consistently produces capital," McGee said on the call, pointing to Hartford's mutual fund sub-advisor, Wellington, as a big part of the funds' success. "This is a business with a competitive market position that generates attractive returns."

McGee revealed that he expects the mutual fund business and the two other businesses Hartford is keeping will provide between 12 and 13 percent in combined return on equity in 2012.

McGee also confirmed that Hartford "recently moved the mutual fund headquarters to Radnor, Pennsylvania [outside Philadelphia] to be closer to Wellington's staff." 

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

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
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:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2019
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use