Hartford Mutual Funds reopens Hartford MidCap Value Fund to new investors

The Hartford Mutual Funds today reopened the $185.2 million Hartford MidCap Value Fund (HMVAX) to new investors in an effort to capitalize on new investment opportunities and offset outflows. The fund, which is subadvised by Wellington Management Company LLP, had been closed to new investors since August 2004. Wellington is one of the world's leading subadvisers to mutual fund sponsors, including The Vanguard Group Inc., for which it manages the $42.6 billion Vanguard Wellington Fund (VWELX). “As our economy shows signs of emerging from recession, there are many opportunities for investors in the mid-cap space,” James Mordy, the fund’s manager and a senior vice president and partner at Wellington Management, said in a statement. “Opening the fund to new investors will help us to take advantage of attractively priced mid-cap companies.” Year-to-date as of Aug. 31, the fund was up 28.4%, placing it in the 12th percentile of its mid-cap-value category; for the one-year period, it was down 11.90%, placing it in the 17th percentile; for the annualized three-year period, it was down 5.17%, placing it in the 40th percentile; and for the annualized five-year period, it was up 3.01%, placing it in the 38th percentile, according to Morningstar Inc. The Hartford Mutual Funds is a unit of The Hartford Financial Services Group Inc.