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Rating:Hartford Looks for More Organic Growth in Fund Biz Not Rated 2.3 Email Routing List Email & Route  Print Print
Tuesday, March 29, 2005

Hartford Looks for More Organic Growth in Fund Biz

by: Theresa Sim

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.

Ramani Ayer, 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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