The Hartford Mutual Funds announced that it has reopened the Hartford MidCap Fund to new investors. The fund, which currently has slightly more than $1.323 billion, according to Morningstar of Chicago, will be available to new investors until August 31, 2002 or until it achieves net news sales of $300 million, whichever comes first.
Despite a negative return over the course of the last year, the fund has performed well. It has a one-year return of 4.13%, putting it in the top 3% in the mid-cap growth category, according to Morningstar. And its three-year annualized return of 14.67% puts it in the top 6% in the category.
Since its inception on Dec. 31, 1997 the fund has been managed by Wellington Management Company of Boston. The fund first closed to new investors June 29, 2001 so that it could remain flexible enough to maintain its investment style.
"The Hartford MidCap Fund has been one of our most sought-after funds," David Levenson, senior vice president of The Hartford Mutual Funds. "Were pleased to reopen the fund to new shareholders, giving them access to a top-performing fund."