Growing the company's mutual fund business remains an important priority for Hartford's
executives, reports Reuters
To do so, the company will focus largely on organic growth: "Over the next several years the vast majority (of mutual fund growth) is going to come from organic growth," John Walters
, executive vice president and director of the Hartford Life investment products division, told Reuters
, Hartford's CEO, made similar comments in an earnings call in January. At that time, Ayer targeted the firm's need for broader distribution and touted the firm's new mutual fund-only distribution group within PLANCO.
Walters also told Reuters that strategic acquisitions would be of the "adoption" type -- where the firm would adopt a fund's advisors as its subadvisor.
Hartford currently manages approximately $25 billion in mutual fund assets.
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