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Rating:The Hartford Works On Its Mutual Fund Pitch Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, October 22, 2012

The Hartford Works On Its Mutual Fund Pitch

News summary by MFWire's editors

With a pumped-up sales team and a more streamlined corporate focus, The Hartford [profile] is amping up its pitches to broker-dealers, according to InvestmentNews.

The firm spent the first six months of the year transferring its fixed-income offerings to Wellington Management Co. from its own in-house management at Hartford Investment Management Co., according to the story.

InvestmentNews reporter Darla Mercado also notes that this year, The Hartford boosted its marketing ranks by adding 25 wholesalers, both internal and external, for a total of about 190.

“Many distributors are continuing to sell our mutual fund products with enthusiasm,” said chairman and chief executive Liam McGee.

“We believe our relationships with broker-dealers and distribution partners are quite good,” he said. “We expect [mutual funds] to be a high-growth business for Hartford and our partner Wellington, as well.”

Mercado also cites Morningstar analyst Katie Reichart, who says that the Hartford has suffered roughly $7 billion in outflows year-to-date through Sept. 30.

To read more about the The Hartford's distribution makeover, turn to the InvestmentNews

Edited by: Tommy Fernandez


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