plans to close A, B, and C class shares on three of its mid-cap funds, the officials disclosed in a Friday SEC filing
The Hartford will stop selling the share classes of its MidCap Fund, MidCap Value Fund and Small Company Fund on August 16, 2004. Notably, all funds will continue paying 12(b)-1 fees after that date.
At the end of May, the MidCap Fund had $2.3 billion in assets under management, the MidCap Value Fund had $386 million, and the Small Company Fund $295 million. Wellington Management
subadvises all three funds.
MidCap Fund investors in wrap-fee programs with Strategic Advisers (cleared through National Financial Services), Raymond James Freedom Wrap Account, and the A.G. Edwards Professional Fund Advisor (PFA) Wrap Account can continue to purchase shares.
For all three funds, The Hartford will keep selling shares to investors through ACH or other "similar systematic investment facilities," and for reinvestments of capital gains and dividends.
Some retirement plan participants will also continue to have access to the Small Company Fund if the plan was set up prior to August 16.
The firm also announced that it was continuing the waiver of its management fee on its Equity Income Fund to August 28, 2005.
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