The Hartford Mutual Funds will permanently reduce fees on six of its fixed income funds, effective Nov. 1. The biggest reduction is in the gross expenses on share Class A on The Hartford High Yield Fund, which are being reduced by 15 basis points to 1.25%. The other funds are seeing reductions in fees of between two basis points and 10 basis points.
“We targeted the strong-performing High Yield Fund for significant expense reductions to make it more competitive in its Morningstar category, and more attractive to financial advisers, institutional investors and retirement plan sponsors,” said Jim Davey, executive vice president of The Hartford Mutual Funds. “Financial advisers and investment consultants want lower expenses and fee transparency.”
In July, The Hartford reduced expenses on 36 funds that were already seeing strong sales, to keep the momentum going.