Due to a normal rate of redemptions in the Hartford MidCap Value Fund, The Hartford Mutual Funds is reopening the $476 million fund, which had been closed since 2004.
Besides having the capacity to handle additional assets, The Hartford said, the fund’s portfolio management team sees attractive new investment opportunities in mid-cap stocks.
Data from the National Bureau of Economic Research shows that mid-cap stocks have historically outperformed large-cap stocks in the year following the end of the last three recessions.
The Hartford reopened its MidCap Fund in December. Investors looking for mid-cap exposure can be thoroughly covered with investments in these two funds, said Keith Sloane, SVP at The Hartford Mutual Funds. “As our economy shows signs of emerging from recession, there are many opportunities for investors in the mid-cap space,” Sloane said.