According to the announcement, the new funds include The Hartford Target Retirement 2010 Fund, The Hartford Target Retirement 2020 Fund, The Hartford Target Retirement 2030 Fund, and The Hartford Retirement Income Fund. Each Target Retirement Fund is a diversified fund-of-funds, designed for investors who expect to retire in or near the fund’s target year. The announcement said each fund is actively managed so that, as the fund approaches its target year, the portfolio allocation will become more conservative by increasing its allocation to fixed income funds.
Hartford Investment Management Company will be the sub-adviser for the Target Retirement Funds and Ibbotson Associates will be used as a consultant.
Also in the announcement, the company announced another new product, The Hartford Select SmallCap Growth Fund. This fund will be sub-advised by Jennison Associates, LLC and Oberweis Asset Management, Inc. The announcement said the fund will invest the majority of its assets in stocks of small-capitalization companies.