Hartford Investments Canada Corp, the manager of Hartford Mutual Funds, will be expanding its lineup of core mutual fund solutions with the launch of Hartford Global High Income Fund and the addition of T unit purchase options on eight Hartford Mutual Funds.

“Adding solutions like T units and Hartford Global High Income Fund address the need for a predictable, tax efficient cash stream for Canadians in their retirement years,” says Laurie Davis, president of Hartford Investments.

Hartford Mutual Funds purchased as T units are designed to pay investors a monthly distribution of 6% of the unit’s value (annualized) as Return on Capital (ROC), which is not immediately taxable. Hartford Mutual Funds’ T unit distributions are 100% ROC, making tax management much simpler for investors. Other distributions on account of income or capital gains, are automatically reinvested into the fund, helping preserve capital longer.

The investment objective of Hartford Global High Income Fund is to provide a high level of current income with the potential for capital appreciation.

Subadvised by fixed income manager Hartford Investment Management Co., the fund will generally hold a diversified portfolio of investments from anywhere across the global fixed income spectrum provided the overall portfolio maintains an investment grade average investment quality rating, defined as ‘BBB’ or above by Standard & Poors or the equivalent rating from another rating agency.

These additions to Hartford Investments’ lineup of Hartford Mutual Funds are part of a broader group of changes designed to address immediate investor needs and strengthen the firm’s solution platform for future growth.

Other changes include:

> Streamlining and redesignating Hartford Investments’ class structure to create consistent back end purchase options – Class B and Class T (B) – with DSC and two low load pricing options.

> Offering a premium yield rate of 5% on Hartford DCA Advantage Program six-month series units, maintaining the firm’s industry-leading position on DCA premium rate programs.

> Expanding Hartford DCA Advantage Program to include DCA Class F units.

> Effective July 3, 2008 changing the name of Hartford Canadian Equity Income Fund to Hartford Canadian Dividend Fund to more accurately reflect the fund’s mandate.