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Rating:Davey Does Hartford's 2nd Mutual Fund Deal of 2016 Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, June 01, 2016

Davey Does Hartford's 2nd Mutual Fund Deal of 2016

Reported by Neil Anderson, Managing Editor

Jim Davey is doing a second mutual fund deal, this time adopting 10 mutual funds with a combined $2.2 billion in AUM.


Jim Davey
Hartford Funds
President
Today Davey confirms that Hartford Funds [profile] is adopting 10 of Schroders' [profile] 16 U.S. mutual funds. The funds will be rebranded as the Hartford Schroders Funds, and Schroders will stay on as the funds' subadvisor.

The deal is expected to close by the end of Q3. Meanwhile, Hartford Funds is also acquiring a strategic beta ETF specialist, Lattice.

Karl Dasher, CEO of Schroders North America, calls Hartford "an ideal strategic partner" for the publicly-traded British multinational asset manager. Schroders has offices in 28 countries and AUM of more than $466.9 billion, as of March 31.

Radnor, Pennsylvania-based Hartford Funds is part of the publicly-traded insurer of the same name. The fund firm has $73.6 billion in AUM as of March 31.

Davey, president of Hartford Funds, calls the deal a way for Hartford to continue "to expand the breadth of [its] investment capabilities." And Dasher calls the deal a way to "accelerate [Schroders'] growth plans in the U.S. intermediary market."

Schroders' U.S. mutual fund lineup currently includes: five global and international equity funds; three U.S. equity funds; six fixed income funds; one multi-asset fund; and one alternative fund. 

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