A $152.1-billion-AUM (as of September 30) mutual fund firm is entering the translucent ETF space, with help from the Boston Behemoth.
| James E. "Jim" Davey Hartford Funds President | |
Today,
Vernon Meyer, chief investment officer of
Hartford Funds,
confirmed the
launch of the
Hartford Large Cap Growth ETF (HFGO on the CBOE). The new fund, which listed yesterday, is Hartford's ninth actively managed ETF and its first so-called "semi-transparent" ETF.
Hartford Funds Management Company, LLC serves as the new ETF's investment advisors, while longtime Hartford ally
Wellington Management Company, LLC is the fund's subadvisor. Wellington partners
Stephen Mortimer, senior managing director and equity PM, and
Mario Abularach, senior managing director and equity research analyst, PM the fund, using a bottom-up strategy.
The fund uses
Fidelity Investments' active equity ETF model for translucent ETFs. The expense ratio on the fund is 59 basis points.
Other vendors supporting the new fund include:
ALPS Distributors, Inc. as distributor and principal underwriter;
PricewaterhouseCoopers LLP (PwC) as independent accounting firm; and
State Street Bank and Trust Company as custodian and transfer agent.
"We believe that this new fund, which offers active equity management in an ETF wrapper, has the potential to be an attractive option for both financial professionals and investors," Meyer states. 
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