Hartford Revamps Flagship VA Mysterious 'Director M'

The Hartford Financial Services Group has revamped its flagship Director variable annuity, renaming it The Director M, and adding six new investment managers. The previous iteration of the contract had only two investment managers but now more closely resembles The Hartford Leaders series of variable annuities, which feature sub-accounts managed by five investment managers.

"We want to introduce new choices to customers while continuing to provide the value they have come to expect from The Hartford," said John Walters, executive vice president of the investment products division. "Investors can now access an enhanced lineup of products and continue to enjoy our income protection benefits, death benefits, customer service and distribution excellence."

The "M" stands for "multi-manager," with the contract now featuring sub-accounts managed by AllianceBernstein, Fidelity Investments, Lord Abbett, Oppenheimer Funds, Putnam Investments and Van Kampen. The new product continues to feature sub-accounts managed by Wellington Management Co. and Hartford Investment Management Co.

The portfolios of The Hartford Leaders variable annuities are managed by a different set of investment managers: AIM Investments, American Funds, Franklin Templeton Investments and MFS Investment Management.

In addition, Hartford has added three new mutual funds: The Hartford Floating Rate Fund, The Hartford Capital Appreciation II Fund and The Hartford Select Mid-Cap Value Fund.