N-CSR 1 d368407dncsr.htm HARTFORD MUTUAL FUNDS INC/CT HARTFORD MUTUAL FUNDS INC/CT

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT

COMPANIES

Investment Company Act file number: 811-07589

THE HARTFORD MUTUAL FUNDS, INC.

(Exact name of registrant as specified in charter)

690 Lee Road, Wayne, Pennsylvania 19087

(Address of Principal Executive Offices) (Zip Code)

Thomas R. Phillips, Esquire

Hartford Funds Management Company, LLC

690 Lee Road

Wayne, Pennsylvania 19087

(Name and Address of Agent for Service)

Copy to:

John V. O’Hanlon, Esquire

Dechert LLP

One International Place, 40th Floor

100 Oliver Street

Boston, Massachusetts 02110-2605

Registrant’s telephone number, including area code: (610) 386-4068

Date of fiscal year end: October 31

Date of reporting period: October 31, 2022

Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 100 F Street, NE, Washington, DC 20549. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.


Item 1. Reports to Stockholders.

 


Hartford Domestic
Equity Funds
Annual Report
October 31, 2022
The Hartford Capital Appreciation Fund
Hartford Core Equity Fund
The Hartford Dividend and Growth Fund
The Hartford Equity Income Fund
The Hartford Growth Opportunities Fund
The Hartford Healthcare Fund
The Hartford MidCap Fund
The Hartford MidCap Value Fund
Hartford Quality Value Fund
The Hartford Small Cap Growth Fund
Hartford Small Cap Value Fund
The Hartford Small Company Fund


A MESSAGE FROM THE PRESIDENT
Dear Shareholders:
Thank you for investing in Hartford Mutual Funds. The following is the Funds’ Annual Report covering the period from November 1, 2021 through October 31, 2022.
Market Review
During the 12 months ended October 31, 2022, U.S. stocks, as measured by the S&P 500 Index,1 lost 14.61%. The decline was an unsettling reminder that equities have experienced an exceptionally volatile period marked by persistent inflation, the U.S. Federal Reserve (Fed) interest rate increases, and, lately, growing fears of recession.
Many investors would prefer to remember the brief period from late-June to late-August in 2022 when stocks came off their June 2022 lows for the year and climbed on hopes of a pause in the Fed’s interest-rate increases. But Fed Chair Jerome Powell’s Jackson Hole speech on August 26, 2022, made it clear the Fed would not be backing off its campaign of rate hikes until it felt inflation had been brought under control. The mid-summer rally quickly faded as Powell’s words sank in and as the August 2022 Consumer Price Index (CPI)2 report of 8.3% annual inflation appeared to stiffen the Fed’s resolve. The CPI’s small retreat to 8.2% in September 2022 produced no change in Fed sentiment.
With all the volatility we’ve seen these past 12 months, it may seem hard to believe that markets at the start of the period were, in fact, on their way to setting new positive records. Even as the Fed had begun expressing concerns in late 2021 over the likely persistence of inflation, the S&P 500 Index was on a steady climb on its way to a record high as of January 3, 2022.
As inflation numbers steadily worsened, Fed policymakers acknowledged that higher prices wouldn't be as transitory as they would have hoped. Soon thereafter, the Fed embarked on a cycle of rate hikes and Treasury balance-sheet reductions designed to slow the economy and soak up the massive amounts of liquidity put in place to support a faltering economy.
Any review of the period would be incomplete without noting the impact of the February 24, 2022 invasion of Ukraine by Russia’s armed forces, a decision that continues to threaten global security and strain worldwide food and energy supplies. With the continued backdrop of geopolitical instability, the Fed kept its anti-inflationary policy stance in focus in March 2022 by enacting a quarter-percent increase in the federal funds rate.
After a surprise jump in consumer prices in May 2022, the Fed in June 2022 raised rates by three-quarters of a percent. Although declining gasoline prices offered consumers a measure of relief during the summer, core inflation, which excludes volatile food and energy prices, remained persistently high as the period came to an end. As the Fed added another three-quarter-percent rate hike in September and October 2022, markets remained highly volatile.
As we approach the winter months, recession concerns are likely to grow as a result of the impact of Fed rate hikes on labor markets, currencies, and corporate profits. With market volatility likely to persist, it’s more important than ever to maintain a strong relationship with your financial professional.
Thank you again for investing in Hartford Mutual Funds. For the most up-to-date information on our funds, please take advantage of all the resources available at hartfordfunds.com.
James Davey
President
Hartford Funds
1 S&P 500 Index is a market capitalization-weighted price index composed of 500 widely held common stocks. The index is unmanaged and not available
for direct investment. Past performance does not guarantee future results.
2 The Consumer Price Index (CPI) in the United States is defined by the Bureau of Labor Statistics as a measure of the average change over time in the prices
paid by urban consumers for a market basket of consumer goods and services.


Hartford Domestic Equity Funds
Table of Contents
Fund Overview (Unaudited) 2
Benchmark Glossary (Unaudited) 39
Expense Examples (Unaudited) 40
Financial Statements:  
Schedules of Investments:  
The Hartford Capital Appreciation Fund 44
Hartford Core Equity Fund 48
The Hartford Dividend and Growth Fund 50
The Hartford Equity Income Fund 52
The Hartford Growth Opportunities Fund 54
The Hartford Healthcare Fund 57
The Hartford MidCap Fund 59
The Hartford MidCap Value Fund 62
Hartford Quality Value Fund 64
The Hartford Small Cap Growth Fund 66
Hartford Small Cap Value Fund 69
The Hartford Small Company Fund 71
Glossary 74
Statements of Assets and Liabilities 75
Statements of Operations 79
Statements of Changes in Net Assets 82
Financial Highlights 88
Notes to Financial Statements 103
Report of Independent Registered Public Accounting Firm 129
Operation of the Liquidity Risk Management Program (Unaudited) 130
Directors and Officers (Unaudited) 131
How to Obtain a Copy of each Fund’s Proxy Voting Policies and Voting Records (Unaudited) 134
Quarterly Portfolio Holdings Information (Unaudited) 134
Approval of Investment Management and Investment Sub-Advisory Agreements (Unaudited) 135
The views expressed in each Fund’s Manager Discussion contained in the Fund Overview section are views of that Fund’s portfolio manager(s) through the end of the period and are subject to change based on market and other conditions, and we disclaim any responsibility to update the views contained herein. These views may contain statements that are “forward-looking” statements. Actual results may differ materially from those projected in the “forward-looking” statements. Each Fund’s Manager Discussion is for informational purposes only and does not represent an offer, recommendation or solicitation to buy, hold or sell any security. The specific securities identified and described, if any, do not represent all of the securities purchased or sold and you should not assume that investments in the securities identified and discussed will be profitable. Holdings and characteristics are subject to change. Fund performance reflected in each Fund’s Manager Discussion reflects the returns of such Fund’s Class A shares, before sales charges. Returns for such Fund’s other classes differ only to the extent that the classes do not have the same expenses.


The Hartford Capital Appreciation Fund
 Fund Overview
 October 31, 2022 (Unaudited) 

Inception 07/22/1996
Sub-advised by Wellington Management Company LLP
Investment objective – The Fund seeks growth of capital.
Comparison of Change in Value of $10,000 Investment (10/31/2012 - 10/31/2022)
The chart above represents the hypothetical growth of a $10,000 investment in Class A, which includes the maximum sales charge applicable to Class A shares. Returns for the Fund’s other classes will vary from what is seen above due to differences in the expenses charged to those share classes.
Average Annual Total Returns
for the Periods Ended 10/31/2022
  1 Year 5 Years 10 Years
Class A1 -17.73% 7.64% 11.21%
Class A2 -22.25% 6.43% 10.58%
Class C1 -18.38% 6.82% 10.39%
Class C3 -19.03% 6.82% 10.39%
Class I1 -17.51% 7.93% 11.54%
Class R31 -18.03% 7.26% 10.85%
Class R41 -17.77% 7.59% 11.19%
Class R51 -17.53% 7.91% 11.52%
Class R61 -17.44% 8.02% 11.62%
Class Y1 -17.54% 7.96% 11.59%
Class F1 -17.42% 8.03% 11.59%
Russell 3000 Index -16.52% 9.87% 12.46%
S&P 500 Index -14.61% 10.44% 12.79%
    
1 Without sales charge
2 Reflects maximum sales charge of 5.50%
3 Reflects a contingent deferred sales charge of 1.00%
PERFORMANCE DATA QUOTED REPRESENTS PAST PERFORMANCE AND DOES NOT GUARANTEE FUTURE RESULTS. The investment return and principal value of the investment will fluctuate so that investors’ shares, when redeemed, may be worth more or less than their original cost. The chart and table do not reflect the deductions of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares. Current performance may be lower or higher than the performance data quoted. To obtain performance data current to the most recent month-end, please visit our website hartfordfunds.com.
Total returns presented above were calculated using the applicable class' net asset value available to shareholders for sale or redemption of Fund shares on 10/31/2022, which may exclude investment transactions as of this date. All share class returns assume the reinvestment of all distributions at net asset value and the deduction of all fund expenses. The total returns presented in the Financial Highlights section of the report are calculated in the same manner, but also take into account certain
adjustments that are necessary under generally accepted accounting principles. As a result, the total returns in the Financial Highlights section may differ from the total returns presented above.
Class R6 shares commenced operations on 11/07/2014 and performance prior to that date is that of the Fund’s Class Y shares. Class F shares commenced operations on 02/28/2017 and performance prior to that date is that of the Fund’s Class I shares. Performance prior to an inception date of a class has not been adjusted to reflect the operating expenses of such class.
You cannot invest directly in an index.
See “Benchmark Glossary” for benchmark descriptions.
Performance information may reflect expense waivers/reimbursements without which performance would have been lower.
Operating Expenses* Gross Net
Class A 1.04% 1.04%
Class C 1.82% 1.82%
Class I 0.77% 0.77%
Class R3 1.41% 1.41%
Class R4 1.10% 1.10%
Class R5 0.80% 0.80%
Class R6 0.69% 0.69%
Class Y 0.80% 0.80%
Class F 0.69% 0.69%
    
* Expenses as shown in the Fund’s most recent prospectus. Actual expenses may be higher or lower. Please see accompanying Financial Highlights for expense ratios for the period ended 10/31/2022.
 

2


The Hartford Capital Appreciation Fund
 Fund Overview – (continued)
 October 31, 2022 (Unaudited) 

Portfolio Managers
Gregg R. Thomas, CFA
Senior Managing Director and Director, Investment Strategy
Wellington Management Company LLP
Thomas S. Simon, CFA, FRM
Senior Managing Director and Portfolio Manager
Wellington Management Company LLP


Manager Discussion
How did the Fund perform during the period?
The Class A shares of The Hartford Capital Appreciation Fund returned -17.73%, before sales charges, for the twelve-month period ended October 31, 2022, underperforming the Fund’s benchmarks, the Russell 3000 Index, which returned -16.52% for the same period, and the S&P 500 Index, which returned -14.61% for the same period. For the same period, the Class A shares of the Fund, before sales charges, underperformed the -16.03% average return of the Lipper Multi-Cap Core Funds peer group, a group of funds with investment strategies similar to those of the Fund.
Why did the Fund perform this way?
United States (U.S.) equities fell over the trailing twelve-month period ended October 31, 2022. Markets rallied early in the period on the back of robust equity inflows, strong corporate earnings, favorable economic data, and extremely accommodative financial conditions. However, the rapid spread of the Omicron variant of the coronavirus led to the largest increase in U.S. COVID-19 cases since the onset of the pandemic, prompting a flurry of new restrictions and event cancellations. Inflation continued to surge against a backdrop of severe supply and labor shortages, rising energy prices, and high demand for goods and services, heightening scrutiny of the U.S. Federal Reserve (Fed) amid anxiety about a potential monetary policy mistake. Equity markets fell sharply in the second quarter of 2022, as rampant inflation and tighter financial conditions negatively affected risk sentiment and increased the probability of recession. Rapidly rising prices for food and energy pushed consumer inflation to its highest level in more than four decades. Growth equities significantly underperformed their value counterparts as surging Treasury yields and disappointing earnings results from some of the largest technology companies drove the Nasdaq Composite Index to its biggest quarterly loss since September 2001. Equity market weakness persisted, as risk sentiment deteriorated on fears that aggressive interest-rate increases and tighter financial conditions would constrict economic growth and drive the U.S. to recession. Despite these concerns, Fed Chair Jerome Powell made clear that the central bank is committed to raising interest rates and keeping them elevated for longer until there is clear evidence that price pressures are abating.
Returns varied by market cap during the period, as large-cap equities, as measured by the S&P 500 Index, outperformed small-cap equities and underperformed mid-cap equities, as measured by the Russell 2000 Index and S&P MidCap 400 Index, respectively.
Eight of the eleven sectors in the Russell 3000 Index posted negative returns during the period, while three sectors posted positive returns during the period. Weak performers included the Communication Services (-41%), Consumer Discretionary (-29%), and Information Technology (-24%) sectors. The Energy (+62%), Consumer Staples (+4%), and Utilities (+3%) sectors posted gains for the period.
The Fund seeks its investment objective by employing a multiple portfolio manager structure, which means the Fund has several components that are managed separately using different investment styles (each a “sleeve”).
During the period, the Fund underperformed the Russell 3000 Index primarily due to weak stock selection within the Information Technology, Healthcare, and Communication Services sectors. Conversely, stronger selection within the Industrials, Consumer Discretionary, and Financials sectors contributed positively to relative returns during the period. Sector allocation, a result of bottom-up stock selection, detracted from performance during the period primarily due to the Fund’s underweight exposures to the Energy and Utilities sectors. Underweight exposures to the Information Technology and Communication Services sectors relative to the Russell 3000 Index contributed positively to performance during the period.
Relative to the Russell 3000 Index, the Fund’s underweight exposure to Apple (Information Technology), our decision to not hold Exxon Mobil (Energy) in the Fund, and the out-of-benchmark position in Snap (Communication Services) were the top relative detractors from Fund performance during the period. Apple designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. Shares of Apple ended the period lower despite reporting better-than-expected quarterly earnings and increase in personal computer (PC) sales, driven by negative impacts from supply constraints, foreign exchange challenges, and weakness in digital advertising. While shares of Apple declined during the period, they declined less than the rest of the market as measured by the Russell 3000 Index. The Fund initiated an underweight position in the stock during the period. Exxon Mobil engages in the exploration, development, and distribution of oil, gas, and petroleum products. Shares of Exxon Mobil rose as the company reported quarterly earnings that exceeded consensus estimates and benefited overall from the rise in global energy prices. As of the end of the period, the Fund continued to not hold the stock. Snap is an American camera and social media company. Shares of Snap fell during the period as the company reported lower-than-expected quarterly earnings and projected that revenue would be lower than their original expectations. The macroeconomic environment has provided challenges for the
 

3


The Hartford Capital Appreciation Fund
 Fund Overview – (continued)
 October 31, 2022 (Unaudited) 

company as well due to rising inflation and interest rates, labor disruptions and platform policy changes. The Fund eliminated the position in this stock during the period.
Meta Platform (Communication Services), Alphabet (Communication Services), and Amazon.com (Consumer Discretionary) were among the largest detractors from Fund performance on an absolute basis over the period.
Top contributors to performance relative to the Russell 3000 Index during the period included the overweight exposure to Northrop Grumman (Industrials), our decision to eliminate the Fund’s position in Tesla (Consumer Discretionary), as well as an underweight exposure to Microsoft (Information Technology). Northrop Grumman is an American multinational aerospace and defense technology company. Shares rose over the period alongside other defense equities in response to the Ukraine-Russia conflict. Despite falling revenues hampered by labor shortages and supply chain issues, the company maintained its 2022 fiscal year earnings and revenue guidance, and announced increases to its quarterly dividend. The Fund maintained an overweight to the stock as of the end of the period. Tesla engages in the design, development, manufacture, and sale of fully electric vehicles, energy generation, and storage systems. Shares of Tesla fell during the period as the electric vehicle maker continued to grapple with supply chain issues and COVID-related shutdowns in Shanghai. The company also reported lower-than-expected third-quarter production and delivery numbers and faced growing pains from executive turnover, logistical challenges, and rising commodity prices. The Fund eliminated the position in the stock during the period. Microsoft is an American multinational technology corporation. Shares of Microsoft fell during the period as technology stocks experienced some of the biggest losses due to challenges from rising interest rates. The company also reported weaker-than-expected cloud revenue in the fiscal first quarter and issued second-quarter revenue guidance that fell short of expectations, despite the fact that the company beat earnings and revenue estimates. We increased the position to the stock within the Fund, but the Fund remains underweight relative to the benchmark.
UnitedHealth (Healthcare), Northrop Grumman (Industrials), and Lockheed Martin (Industrials) were among the largest contributors to Fund performance on an absolute basis over the period.
Our investment process includes the use of factor-based strategies, which involve targeting certain company characteristics, or factors, that we believe impact returns across asset classes. Factor impact on the Fund was negative over the period. The Fund’s underweight exposure to higher-momentum names detracted from performance, while the Fund’s slight underweight exposures to higher-volatility equities and higher growth names contributed positively to performance relative to the Russell 3000 Index.
During the period, the Fund, at times, used equity index futures to equitize cash and to efficiently manage risks. During the period, the use of equity index futures to manage risk detracted from relative performance. The use of equity index futures to equitize cash was neutral to relative performance during the period.
What is the outlook as of the end of the period?
As of the end of the period, macroeconomic and geopolitical uncertainties continued to weigh on markets, and we expect this volatility to persist through the end of 2022. As allocators, we seek to balance risk in the Fund’s portfolio across strategic investments in value, quality, and growth sleeve managers. We look to each sleeve manager's fundamental stock selection process to identify companies that they believe are best able to navigate the landscape and seek to avoid those at greatest risk.
We seek to create for the Fund a portfolio of differentiated investment styles and philosophies, and in doing so we are mindful of the evolving risks and opportunities for each sleeve manager's style. We are mindful of the potential impact that inflation could have on corporate profitability. Within the growth universe, we continue to recognize the outsized downside risk for companies that are priced with high growth expectations but have not yet realized these expectations in terms of cash flow. While we saw this reversal start to play out earlier in the year, we believe there may still be more room to fall. In the value universe, we are mindful as ever on the potential risks to mean-reversion, including the influence of macroeconomic factors like interest rates and energy prices. While we still believe that some structural impediments to mean-reversion persist, we also think that current monetary tightening conditions could provide further relief to value stocks and create attractive opportunities for fundamental investors.
At the end of the period, the Fund’s largest overweights were to the Industrials and Healthcare sectors, while the Fund’s largest underweights were to the Information Technology and Energy sectors, relative to the Russell 3000 Index.
Important Risks
Investing involves risk, including the possible loss of principal. Security prices fluctuate in value depending on general market and economic conditions and the prospects of individual companies. The Fund’s strategy for allocating assets among portfolio management teams may not work as intended. • Mid-cap securities can have greater risks and volatility than large-cap securities. • To the extent the Fund focuses on one or more sectors, the Fund may be subject to increased volatility and risk of loss if adverse developments occur.

4


The Hartford Capital Appreciation Fund
 Fund Overview – (continued)
 October 31, 2022 (Unaudited) 

Composition by Sector(1)
as of 10/31/2022
Sector Percentage
of Net Assets
Equity Securities  
Communication Services 5.0%
Consumer Discretionary 11.3
Consumer Staples 7.5
Energy 2.6
Financials 14.5
Health Care 17.2
Industrials 13.4
Information Technology 18.0
Materials 4.6
Real Estate 2.9
Utilities 0.8
Total 97.8%
Short-Term Investments 1.4
Other Assets & Liabilities 0.8
Total 100.0%
    
(1) A sector may be comprised of several industries. For Fund compliance purposes, the Fund may not use the same classification system. These sector classifications are used for financial reporting purposes.

5


Hartford Core Equity Fund
 Fund Overview
 October 31, 2022 (Unaudited) 

Inception 04/30/1998
Sub-advised by Wellington Management Company LLP
Investment objective – The Fund seeks growth of capital.
Comparison of Change in Value of $10,000 Investment (10/31/2012 - 10/31/2022)
The chart above represents the hypothetical growth of a $10,000 investment in Class A, which includes the maximum sales charge applicable to Class A shares. Returns for the Fund’s other classes will vary from what is seen above due to differences in the expenses charged to those share classes.
Average Annual Total Returns
for the Periods Ended 10/31/2022
  1 Year 5 Years 10 Years
Class A1 -15.79% 10.37% 13.02%
Class A2 -20.43% 9.13% 12.38%
Class C1 -16.43% 9.54% 12.19%
Class C3 -17.25% 9.54% 12.19%
Class I1 -15.59% 10.65% 13.24%
Class R31 -16.11% 9.97% 12.67%
Class R41 -15.80% 10.35% 13.04%
Class R51 -15.58% 10.64% 13.35%
Class R61 -15.51% 10.75% 13.43%
Class Y1 -15.56% 10.68% 13.40%
Class F1 -15.51% 10.75% 13.30%
S&P 500 Index -14.61% 10.44% 12.79%
    
1 Without sales charge
2 Reflects maximum sales charge of 5.50%
3 Reflects a contingent deferred sales charge of 1.00%
PERFORMANCE DATA QUOTED REPRESENTS PAST PERFORMANCE AND DOES NOT GUARANTEE FUTURE RESULTS. The investment return and principal value of the investment will fluctuate so that investors’ shares, when redeemed, may be worth more or less than their original cost. The chart and table do not reflect the deductions of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares. Current performance may be lower or higher than the performance data quoted. To obtain performance data current to the most recent month-end, please visit our website hartfordfunds.com.
Total returns presented above were calculated using the applicable class' net asset value available to shareholders for sale or redemption of Fund shares on 10/31/2022, which may exclude investment transactions as of this date. All share class returns assume the reinvestment of all distributions at net asset value and the deduction of all fund expenses. The total returns presented in the Financial Highlights section of the report are calculated in the same manner, but also take into account certain
adjustments that are necessary under generally accepted accounting principles. As a result, the total returns in the Financial Highlights section may differ from the total returns presented above.
Class I shares commenced operations on 03/31/2015 and performance prior to that date is that of the Fund’s Class A shares (excluding sales charges). Class R6 shares commenced operations on 03/31/2015 and performance prior to that date is that of the Fund’s Class Y shares. Class F shares commenced operations on 02/28/2017. Performance for Class F shares prior to 02/28/2017 reflects the performance of Class I shares from 03/31/2015 through 02/27/2017 and Class A shares (excluding sales charges) prior to 03/31/2015. Performance prior to an inception date of a class has not been adjusted to reflect the operating expenses of such class.
You cannot invest directly in an index.
See “Benchmark Glossary” for benchmark descriptions.
Performance information may reflect expense waivers/reimbursements without which performance would have been lower.
Operating Expenses* Gross Net
Class A 0.70% 0.70%
Class C 1.45% 1.45%
Class I 0.45% 0.45%
Class R3 1.07% 1.07%
Class R4 0.76% 0.76%
Class R5 0.46% 0.46%
Class R6 0.36% 0.36%
Class Y 0.45% 0.45%
Class F 0.36% 0.36%
    
* Expenses as shown in the Fund’s most recent prospectus. Actual expenses may be higher or lower. Please see accompanying Financial Highlights for expense ratios for the period ended 10/31/2022.
 

6


Hartford Core Equity Fund
 Fund Overview – (continued)
 October 31, 2022 (Unaudited) 

Portfolio Managers
Mammen Chally, CFA
Senior Managing Director and Equity Portfolio Manager
Wellington Management Company LLP
David A. Siegle, CFA
Managing Director and Equity Research Analyst
Wellington Management Company LLP
Douglas W. McLane, CFA
Senior Managing Director and Equity Portfolio Manager
Wellington Management Company LLP


Manager Discussion
How did the Fund perform during the period?
The Class A shares of the Hartford Core Equity Fund returned -15.79%, before sales charges, for the twelve-month period ended October 31, 2022, underperforming the Fund’s benchmark, the S&P 500 Index, which returned -14.61% for the same period. For the same period, the Class A shares of the Fund, before sales charges, slightly outperformed the -15.82% average return of the Lipper Large-Cap Core Funds peer group, a group of funds with investment strategies similar to those of the Fund.
Why did the Fund perform this way?
United States (U.S.) equities fell over the trailing twelve-month period ended October 31, 2022. Markets rallied early in the period on the back of robust equity inflows, strong corporate earnings, favorable economic data, and extremely accommodative financial conditions. However, the rapid spread of the Omicron variant of the coronavirus led to the largest increase in U.S. COVID-19 cases since the onset of the pandemic, prompting a flurry of new restrictions and event cancellations. Inflation continued to surge against a backdrop of severe supply and labor shortages, rising energy prices, and high demand for goods and services, heightening scrutiny of the U.S. Federal Reserve (Fed) amid anxiety about a potential monetary policy mistake.
Equity markets fell sharply in the second quarter of 2022, as rampant inflation and tighter financial conditions negatively affected risk sentiment and increased the probability of recession. Rapidly rising prices for food and energy pushed consumer inflation to its highest level in more than four decades. Growth equities significantly underperformed their value counterparts as surging Treasury yields and disappointing earnings results from some of the largest technology companies drove the Nasdaq Composite Index to its biggest quarterly loss since September 2001. Equity market weakness persisted, as risk sentiment deteriorated on fears that aggressive interest-rate increases and tighter financial conditions would constrict economic growth and drive the U.S. to recession. Despite these concerns, Fed Chair Jerome Powell made clear that the central bank is committed to raising interest rates and keeping them elevated for longer until there is clear evidence that price pressures are abating.
Returns varied by market cap during the period, as large-cap equities, as measured by the S&P 500 Index, outperformed small-cap equities and underperformed mid-cap equities, as measured by the Russell 2000 Index and S&P MidCap 400 Index, respectively.
Seven out of eleven sectors in the S&P 500 Index fell during the period, with the Communication Services (-41%) and Consumer Discretionary (-29%) sectors performing the worst. The Energy (+65%) and Consumer Staples (+5%) sectors were the best performers during the period.
Overall, the Fund’s underperformance relative to the S&P 500 Index during the period was driven by weak security selection, primarily within the Communication Services, Real Estate, and Healthcare sectors. This was partially offset by stronger stock selection within the Information Technology, Consumer Discretionary, and Industrials sectors, which contributed positively to performance. Sector allocation, a result of the bottom-up stock selection process, also detracted from relative performance, primarily driven by the Fund’s underweights to the Energy and Utilities sectors. This was partially offset by the Fund’s overweight position in the Healthcare sector and underweight position in the Consumer Discretionary sector during the period, both of which contributed positively to performance.
The top contributors to relative performance over the period were overweight positions in EOG Resources (Energy), Eli Lilly (Healthcare), and UnitedHealth Group (Healthcare). Shares of the oil and gas exploration and production company EOG Resources rose during the period after the company reported second-quarter 2022 earnings. Revenue and net income came in well above expectations as the company continued to benefit from leading operational efficiencies. The company further maintained fiscal 2022 guidance and declared a special dividend of $1.50 per share during the period. Eli Lilly’s shares rose after Eisai and Biogen reported breakthrough trial results for their Alzheimer’s drug. The news bodes well for Eli Lilly’s drug Donanemab, which also targets removing the amyloid beta protein to slow disease progression. Donanemab’s readout is slated for the second quarter of 2023. The U.S. Food and Drug Administration (FDA) also approved the company's oral lung cancer drug, Retevmo, for certain adult patients with solid tumors with a specific genetic makeup. Shares of UnitedHealth Group rose during the period. Optum, a division of UnitedHealth Group, planned to launch a new program to help insurers cut down on "unnecessary lab
 

7


Hartford Core Equity Fund
 Fund Overview – (continued)
 October 31, 2022 (Unaudited) 

testing," a move it said will save insurers $3 billion annually. The program intends to address the lack of oversight as new genetic tests enter the market. Top absolute contributors to Fund performance over the period included Eli Lilly (Healthcare) and EOG Resources (Energy).
The top detractors from the Fund’s relative performance over the period included not owning Exxon Mobil (Energy), an overweight position in Netflix (Communication Services), and not owning Chevron (Energy). Shares of Exxon Mobil rose during the period on the back of second-quarter 2022 results reported in July, where earnings per share (EPS) and revenue beat consensus estimates. Profits exceeded due to near-record high oil prices and aggressive cost controls. The share price of Netflix declined sharply after the company announced first-quarter 2022 earnings, where it saw a loss of 200,000 subscribers, the first time it had lost subscribers since 2011. The company also warned that it expected to lose two million subscribers in the second quarter of 2022 as new password-sharing restrictions are introduced. Shares of Chevron rose over the period as the company benefited from higher oil prices. Chevron produced $21.8 billion in cash flow from operations in the first half of 2022, which was nearly twice the level seen in 2021. The Fund’s top absolute detractors from performance for the period included Alphabet (Communication Services) and Amazon (Consumer Discretionary).
Derivatives were not used in the Fund during the period.
What is the outlook as of the end of the period?
The U.S. Consumer Price Index (CPI) remained elevated in its report for August 2022, albeit slightly declining from the loftier levels of July 2022. As of the end of the period, we believe some respite is possible in the near term, given the decline in oil prices. The Federal Open Market Committee (FOMC) members’ median interest-rate expectations for 2023 have gone above 4.5% from 3.75% just three months ago. With the increase in expectations for near-term interest-rate increases, the continuing strength in the U.S. dollar is likely not a surprise, but nevertheless, its strength has become an increasing focus for companies and investors. Recent commentary from companies has indicated pockets of slowing demand, and low nominal growth in 2023 remains probable given peaking inflation and tight monetary policy.
The energy crisis Europe is facing this upcoming winter highlights the dilemma policymakers are facing between supporting low-income consumers and securing longer-term energy security for the continent. Over the last few months, it has become increasingly clear to us that Russia intends to keep the pressure on Europe, and we believe the conflict with Ukraine is likely to continue into 2024 at a minimum. The road forward regarding the conflict remains unpredictable, and the range of outcomes is wide in terms of the impact to the global economy, in our view.
On the positive side, we observe that supply-chain issues appear to be improving, although not completely resolved. Employment in the U.S. remains robust for now, but we believe there may be potential weakness ahead as the Fed continues to battle inflation. The Inflation Reduction Act (IRA), the Infrastructure Investment and Jobs Act (IIJA),
and the CHIPS Act will likely serve as offsets, in our view. Margin pressure remains a focus and is somewhat unpredictable in the near term due to the variety of factors companies are facing.
At the end of the period, the Fund’s largest overweights relative to the S&P 500 Index were the Healthcare and Industrials sectors, while the Fund’s largest underweights relative to the S&P 500 Index were the Materials and Communication Services sectors.
Important Risks
Investing involves risk, including the possible loss of principal. Security prices fluctuate in value depending on general market and economic conditions and the prospects of individual companies.
Composition by Sector(1)
as of 10/31/2022
Sector Percentage
of Net Assets
Equity Securities  
Communication Services 5.9%
Consumer Discretionary 9.9
Consumer Staples 7.2
Energy 4.0
Financials 11.7
Health Care 18.4
Industrials 9.8
Information Technology 26.2
Materials 1.0
Real Estate 1.7
Utilities 3.3
Total 99.1%
Short-Term Investments 0.7
Other Assets & Liabilities 0.2
Total 100.0%
    
(1) A sector may be comprised of several industries. For Fund compliance purposes, the Fund may not use the same classification system. These sector classifications are used for financial reporting purposes.

8


The Hartford Dividend and Growth Fund
 Fund Overview
 October 31, 2022 (Unaudited) 

Inception 07/22/1996
Sub-advised by Wellington Management Company LLP
Investment objective – The Fund seeks a high level of current income consistent with growth of capital.
Comparison of Change in Value of $10,000 Investment (10/31/2012 - 10/31/2022)
The chart above represents the hypothetical growth of a $10,000 investment in Class A, which includes the maximum sales charge applicable to Class A shares. Returns for the Fund’s other classes will vary from what is seen above due to differences in the expenses charged to those share classes.
Average Annual Total Returns
for the Periods Ended 10/31/2022
  1 Year 5 Years 10 Years
Class A1 -6.11% 9.74% 11.68%
Class A2 -11.28% 8.51% 11.05%
Class C1 -6.86% 8.90% 10.83%
Class C3 -7.74% 8.90% 10.83%
Class I1 -5.86% 10.04% 11.95%
Class R31 -6.45% 9.35% 11.29%
Class R41 -6.16% 9.68% 11.64%
Class R51 -5.88% 10.02% 11.97%
Class R61 -5.80% 10.13% 12.07%
Class Y1 -5.82% 10.08% 12.06%
Class F1 -5.80% 10.13% 12.00%
S&P 500 Index -14.61% 10.44% 12.79%
Russell 1000 Value Index -7.00% 7.21% 10.30%
    
1 Without sales charge
2 Reflects maximum sales charge of 5.50%
3 Reflects a contingent deferred sales charge of 1.00%
PERFORMANCE DATA QUOTED REPRESENTS PAST PERFORMANCE AND DOES NOT GUARANTEE FUTURE RESULTS. The investment return and principal value of the investment will fluctuate so that investors’ shares, when redeemed, may be worth more or less than their original cost. The chart and table do not reflect the deductions of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares. Current performance may be lower or higher than the performance data quoted. To obtain performance data current to the most recent month-end, please visit our website hartfordfunds.com.
Total returns presented above were calculated using the applicable class' net asset value available to shareholders for sale or redemption of Fund shares on 10/31/2022, which may exclude investment transactions as of this date. All share class returns assume the reinvestment of all distributions at net asset value and the deduction of all fund expenses. The total returns presented in the Financial Highlights section of the report are calculated in the same manner, but also take into account certain
adjustments that are necessary under generally accepted accounting principles. As a result, the total returns in the Financial Highlights section may differ from the total returns presented above.
Class R6 shares commenced operations on 11/07/2014 and performance prior to that date is that of the Fund’s Class Y shares. Class F shares commenced operations on 02/28/2017 and performance prior to that date is that of the Fund’s Class I shares. Performance prior to an inception date of a class has not been adjusted to reflect the operating expenses of such class.
You cannot invest directly in an index.
See “Benchmark Glossary” for benchmark descriptions.
Performance information may reflect expense waivers/reimbursements without which performance would have been lower. For information on current expense waivers/reimbursements, please see the prospectus.
Operating Expenses* Gross Net
Class A 0.97% 0.97%
Class C 1.75% 1.75%
Class I 0.71% 0.71%
Class R3 1.35% 1.35%
Class R4 1.03% 1.03%
Class R5 0.73% 0.73%
Class R6 0.63% 0.63%
Class Y 0.74% 0.69%
Class F 0.63% 0.63%
    
* Expenses as shown in the Fund’s most recent prospectus. Gross expenses do not reflect contractual fee waivers or expense reimbursement arrangements, if any. Net expenses reflect such arrangements only with respect to Class Y. These arrangements remain in effect until 02/28/2023 unless the Fund’s Board of Directors approves an earlier termination. Actual expenses may be higher or lower. Please see accompanying Financial Highlights for expense ratios for the period ended 10/31/2022.
 

9


The Hartford Dividend and Growth Fund
 Fund Overview – (continued)
 October 31, 2022 (Unaudited) 

Portfolio Managers
Matthew G. Baker
Senior Managing Director and Equity Portfolio Manager
Wellington Management Company LLP
Nataliya Kofman
Managing Director and Equity Portfolio Manager
Wellington Management Company LLP


Manager Discussion
How did the Fund perform during the period?
The Class A shares of The Hartford Dividend and Growth Fund returned -6.11%, before sales charges, for the twelve-month period ended October 31, 2022, outperforming the Fund’s primary benchmark, the S&P 500 Index, which returned -14.61% for the same period, and outperforming the Fund’s secondary benchmark, the Russell 1000 Value Index, which returned -7.00% for the same period. For the same period, the Class A shares of the Fund, before sales charges, underperformed the -5.96% average return of the Lipper Equity Income Funds peer group, a group of funds with investment strategies similar to those of the Fund.
Why did the Fund perform this way?
United States (U.S.) equities, as measured by the S&P 500 Index, fell over the trailing twelve-month period ending October 31, 2022. Markets rallied early in the period on the back of robust equity inflows, strong corporate earnings, favorable economic data, and extremely accommodative financial conditions. However, the rapid spread of the Omicron COVID-19 variant led to the largest increase in U.S. COVID-19 cases since the onset of the pandemic and prompted a flurry of new restrictions and event cancellations. Inflation continued to surge against a backdrop of severe supply and labor shortages, rising energy prices and high demand for goods and services, heightening scrutiny of the U.S. Federal Reserve (Fed) amid anxiety about a potential monetary policy mistake.
Equity markets fell sharply in the second quarter of 2022, as rampant inflation and tighter financial conditions negatively affected risk sentiment and increased the probability of recession. Rapidly rising prices for food and energy pushed consumer inflation to its highest level in more than four decades. Growth equities significantly underperformed their value counterparts as surging U.S. Treasury yields and disappointing earnings results from some of the largest technology companies drove the Nasdaq Composite Index to its biggest quarterly loss since September 2001.
Equity market weakness persisted, as risk sentiment deteriorated on fears that aggressive interest rate increases and tighter financial conditions would constrict economic growth and drive the U.S. to recession. Despite these concerns, Fed Chair Jerome Powell made clear that the central bank remained committed to raising interest rates and keeping them elevated for longer until there is clear evidence that price pressures are abating.
Returns varied by market cap during the period, as mid-cap equities measured by the S&P MidCap 400 Index outperformed both small- and large-cap equities, as measured by the Russell 2000 Index and the S&P 500 Index.
Four out of eleven sectors in the S&P 500 Index rose during the period, with the Energy (+65%), Consumer Staples (+5%), and Utilities (+3%) sectors performing the best. The Communication Services (-41%), Consumer Discretionary (-29%), and Real Estate (-21%) sectors were the worst performers during the period.
Security selection was the main driver of the Fund’s outperformance relative to the S&P 500 Index over the period. Stock selection was strongest within the Consumer Discretionary, Information Technology, and Industrials sectors. This was partially offset by weaker selection within the Energy and Materials sectors, which detracted from performance relative to the S&P 500 Index over the same period. Sector allocation, a result of the bottom-up stock selection process, also contributed positively to the Fund’s performance relative to the S&P 500 Index. An underweight allocation to the Consumer Discretionary and Information Technology sectors added the most to returns relative to the S&P 500 Index during the period.
The Fund’s top positive contributors to performance relative to the S&P 500 Index during the period were not owning Meta Platforms (Communication Services) or Amazon.com (Consumer Discretionary) and an overweight position in ConocoPhillips (Energy). The share price of Meta Platforms, a U.S.-based social networking operator, fell during the period after management released disappointing quarterly results and weak near-term guidance. The company reported quarterly revenue declined more than 4% year over year and its second straight quarterly decline in the second quarter of 2022. Overall net income fell 52% to $4.4 billion. Shares of Amazon ended the period lower after the e-commerce giant reported first and third quarter results that missed consensus estimates. The company confronted soaring inflation and rising interest rates as well as a slowdown in their core retail business as customers returned to stores. Management also issued a disappointing fourth quarter 2022 revenue forecast and stated it plans to continue implementing cost-cutting measures. Shares of ConocoPhillips, an oil and gas exploration and production company, rose over the period on increasing earnings and revenue due to rising energy prices. The company also raised capital returns, bringing the 2022 total to an estimated $15 billion.
The Fund’s top detractors from performance relative to the S&P 500 Index during the period included not owning Exxon Mobil (Energy), an underweight position to Apple (Information Technology), and an
 

10


The Hartford Dividend and Growth Fund
 Fund Overview – (continued)
 October 31, 2022 (Unaudited) 

overweight position to Comcast (Communication Services). Shares of Exxon Mobil rose during the period along with the rest of the Energy sector on increasing earnings and revenue from rising oil prices. The company also announced a $30 billion share buyback. Shares of Apple rose over the period as the company reported consecutive strong quarterly results where revenue growth exceeded management’s expectations despite negative impacts from supply constraints, foreign exchange challenges, and weakness in digital advertising. The share price of Comcast fell over the period as the company reported a slowdown in broadband user growth and a decline in cable TV customers. The leading cable operator started to experience the fallout of pandemic-driven, heightened subscription demand beginning its descent to more normal levels. However, the company reported second quarter 2022 earnings and revenue that topped consensus estimates and announced an increase in capital returns to shareholders.
Derivatives were not used in the Fund during the period.
What is the outlook as of the end of the period?
Markets ended the period lower as investors braced for a recession; however, the timing and magnitude is still unknown. Consumer demand has been resilient despite rising rates, but we believe we are starting to see the first indicators of economic pull back despite the record strength of the labor market. We believe inflation has likely peaked in the U.S., but a change in tighter monetary policy by the Fed is unlikely, and we have not ruled out the potential for additional meaningful interest rate increases before the end of 2022. In our view, market volatility continues to be driven by a steady sate of macroeconomic cross currents ranging from supply chain bottlenecks to Russia’s invasion of Ukraine. In the current environment, we are seeking to avoid taking undue risk within the Fund by focusing on long-term value creation potential and predictable ranges of outcomes.
We continue to anticipate negative impacts from inflationary pressures and restrictive monetary policy through at least the end of 2022. As of the end of the period, the Fund remains positioned for persistent inflation and decelerating growth by focusing on companies with balance sheet strength, sustainable and growing cash flows, and high-quality management teams, in our view. We believe that opportunistically investing in out of favor growth and cyclical names with positive risk/reward skews may provide upside potential while maintaining an overweight to more defensive segments may insulate the portfolio from macroeconomic shocks and valuation-driven corrections.
At the end of the period, the Fund had its largest overweights in the Financials and Healthcare sectors, and the largest underweights in the Information Technology and Consumer Discretionary sectors, relative to the S&P 500 Index.
Important Risks
Investing involves risk, including the possible loss of principal. Security prices fluctuate in value depending on general market and economic conditions and the prospects of individual companies. • For dividend-paying stocks, dividends are not guaranteed and may decrease without notice. • Foreign investments may be more volatile
and less liquid than U.S. investments and are subject to the risk of currency fluctuations and adverse political, economic and regulatory developments. • To the extent the Fund focuses on one or more sectors, the Fund may be subject to increased volatility and risk of loss if adverse developments occur. • Integration of environmental, social, and/or governance (ESG) characteristics into the investment process may not work as intended.
Composition by Sector(1)
as of 10/31/2022
Sector Percentage
of Net Assets
Equity Securities  
Communication Services 7.4%
Consumer Discretionary 5.4
Consumer Staples 6.1
Energy 5.4
Financials 17.7
Health Care 17.9
Industrials 7.9
Information Technology 18.4
Materials 3.4
Real Estate 3.3
Utilities 4.8
Total 97.7%
Short-Term Investments 1.8
Other Assets & Liabilities 0.5
Total 100.0%
    
(1) A sector may be comprised of several industries. For Fund compliance purposes, the Fund may not use the same classification system. These sector classifications are used for financial reporting purposes.

11


The Hartford Equity Income Fund
 Fund Overview
 October 31, 2022 (Unaudited) 

Inception 08/28/2003
Sub-advised by Wellington Management Company LLP
Investment objective – The Fund seeks a high level of current income consistent with growth of capital.
Comparison of Change in Value of $10,000 Investment (10/31/2012 - 10/31/2022)
The chart above represents the hypothetical growth of a $10,000 investment in Class A, which includes the maximum sales charge applicable to Class A shares. Returns for the Fund’s other classes will vary from what is seen above due to differences in the expenses charged to those share classes.
Average Annual Total Returns
for the Periods Ended 10/31/2022
  1 Year 5 Years 10 Years
Class A1 0.12% 8.78% 10.86%
Class A2 -5.38% 7.56% 10.23%
Class C1 -0.64% 7.95% 10.03%
Class C3 -1.55% 7.95% 10.03%
Class I1 0.40% 9.05% 11.14%
Class R31 -0.25% 8.38% 10.46%
Class R41 0.07% 8.71% 10.80%
Class R51 0.34% 9.04% 11.13%
Class R61 0.49% 9.15% 11.25%
Class Y1 0.36% 9.07% 11.21%
Class F1 0.46% 9.14% 11.20%
Russell 1000 Value Index -7.00% 7.21% 10.30%
    
1 Without sales charge
2 Reflects maximum sales charge of 5.50%
3 Reflects a contingent deferred sales charge of 1.00%
PERFORMANCE DATA QUOTED REPRESENTS PAST PERFORMANCE AND DOES NOT GUARANTEE FUTURE RESULTS. The investment return and principal value of the investment will fluctuate so that investors’ shares, when redeemed, may be worth more or less than their original cost. The chart and table do not reflect the deductions of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares. Current performance may be lower or higher than the performance data quoted. To obtain performance data current to the most recent month-end, please visit our website hartfordfunds.com.
Total returns presented above were calculated using the applicable class' net asset value available to shareholders for sale or redemption of Fund shares on 10/31/2022, which may exclude investment transactions as of this date. All share class returns assume the reinvestment of all distributions at net asset value and the deduction of all fund expenses. The total returns presented in the Financial Highlights section of the report are calculated in the same manner, but also take into account certain
adjustments that are necessary under generally accepted accounting principles. As a result, the total returns in the Financial Highlights section may differ from the total returns presented above.
Class R6 shares commenced operations on 11/07/2014 and performance prior to that date is that of the Fund’s Class Y shares. Class F shares commenced operations on 02/28/2017 and performance prior to that date is that of the Fund’s Class I shares. Performance prior to an inception date of a class has not been adjusted to reflect the operating expenses of such class.
You cannot invest directly in an index.
See “Benchmark Glossary” for benchmark descriptions.
Performance information may reflect expense waivers/reimbursements without which performance would have been lower.
Operating Expenses* Gross Net
Class A 0.97% 0.97%
Class C 1.74% 1.74%
Class I 0.73% 0.73%
Class R3 1.35% 1.35%
Class R4 1.04% 1.04%
Class R5 0.74% 0.74%
Class R6 0.65% 0.65%
Class Y 0.74% 0.74%
Class F 0.64% 0.64%
    
* Expenses as shown in the Fund’s most recent prospectus. Actual expenses may be higher or lower. Please see accompanying Financial Highlights for expense ratios for the period ended 10/31/2022.
 

12


The Hartford Equity Income Fund
 Fund Overview – (continued)
 October 31, 2022 (Unaudited) 

Portfolio Managers
Matthew C. Hand, CFA
Senior Managing Director and Equity Portfolio Manager
Wellington Management Company LLP
Adam H. Illfelder, CFA
Senior Managing Director and Equity Portfolio Manager
Wellington Management Company LLP


Manager Discussion
How did the Fund perform during the period?
The Class A shares of The Hartford Equity Income Fund returned 0.12%, before sales charges, for the twelve-month period ended October 31, 2022, outperforming the Fund’s benchmark, the Russell 1000 Value Index, which returned -7.00% for the same period. For the same period, the Class A shares of the Fund, before sales charges, also outperformed the -5.96% average return of the Lipper Equity Income Funds peer group, a group of funds with investment strategies similar to that of the Fund.
Why did the Fund perform this way?
United States (U.S.) equities fell over the trailing twelve-month period ending October 31, 2022. Markets rallied early in the period owing to robust equity inflows, strong corporate earnings, favorable economic data, and extremely accommodative financial conditions. However, the rapid spread of the Omicron variant of the coronavirus led to the largest increase in U.S. COVID-19 cases since the onset of the pandemic, and prompted a flurry of new restrictions and event cancellations. Inflation continued to surge against a backdrop of severe supply and labor shortages, rising energy prices, and high demand for goods and services, heightening scrutiny of the U.S. Federal Reserve (Fed) amid anxiety about a potential monetary policy mistake. Equity markets fell sharply in the second quarter of 2022, as rampant inflation and tighter financial conditions negatively affected risk sentiment and increased the probability of recession. Rapidly rising prices for food and energy pushed consumer inflation to its highest level in more than four decades. Growth equities significantly underperformed their value counterparts as surging U.S. Treasury yields and disappointing earnings results from some of the largest technology companies drove the Nasdaq Composite Index to its biggest quarterly loss since September 2001. Equity market weakness persisted, as risk sentiment deteriorated on fears that aggressive interest rate increases and tighter financial conditions would constrict economic growth and drive the U.S. to recession. Despite these concerns, Fed Chair Jerome Powell made clear that the central bank is committed to raising interest rates and keeping them elevated for longer until there is clear evidence that price pressures are abating.
During the period, four of the eleven sectors within the Russell 1000 Value Index posted positive absolute returns, with the Energy (+65%), Consumer Staples (+5%), and Utilities (+3%) sectors performing the best. Conversely, the Communication Services (-30%), Information Technology (-23%), and Real Estate (-20%) sectors lagged over the period.
The Fund’s outperformance relative to the Russell 1000 Value Index during the period was driven by security selection. Strong selection in the Industrials, Financials, and Healthcare sectors contributed positively to relative performance, but was partially offset by weaker selection in the Energy and Materials sectors. Sector allocation, a result of our bottom-up stock selection process, also strongly benefited relative returns. The Fund’s underweight position in the Communication Services sector and overweight to the Consumer Staples sector contributed positively to relative results. This was partially offset by the Fund’s overweight position in the Industrials sector.
Top contributors to relative returns included ConocoPhillips (Energy), Pioneer Natural Resources (Energy), and not owning Meta Platforms (Communication Services). Shares of U.S.-based exploration & production companies ConocoPhillips and Pioneer Natural Resources rose over the period. These stocks benefited from the strong momentum within the Energy sector as oil prices spiked due to a steep supply/demand imbalance. ConocoPhillips shares experienced further gains when the company announced a $5 billion increase in a proposed 2022 return of capital. As of the end of the period, the Fund continued to own ConocoPhillips, but we have eliminated the Fund’s position in Pioneer Natural Resources.
Top detractors from relative performance during the period included the Fund’s position in BlackRock (Financials) and not holding Exxon Mobil (Energy) and Chevron (Energy). The share price of asset manager BlackRock declined during the period. The down market led to lower fund flows for the company and margin compression. More recently, BlackRock reported assets under management that missed consensus estimates, further pressuring its share price. We eliminated the Fund’s position in BlackRock during the period.
Derivatives were not used in the Fund during the period.
What is the outlook as of the end of the period?
As of the end of the period, we believe the Fund’s investment universe is rich with new opportunities. We continue to focus on seeking to find high-quality businesses with strong balance sheets and sustainable dividends.
At the end of the period, the Utilities, Healthcare, and Consumer Staples sectors represented the Fund’s largest overweights relative to the Russell 1000 Value Index, while the Communication Services, Consumer Discretionary, and Financials sectors were the Fund’s largest underweights.
 

13


The Hartford Equity Income Fund
 Fund Overview – (continued)
 October 31, 2022 (Unaudited) 

Important Risks
Investing involves risk, including the possible loss of principal. Security prices fluctuate in value depending on general market and economic conditions and the prospects of individual companies. • For dividend-paying stocks, dividends are not guaranteed and may decrease without notice. • Mid-cap securities can have greater risks and volatility than large-cap securities. • Different investment styles may go in and out of favor, which may cause the Fund to underperform the broader stock market. • Integration of environmental, social, and/or governance (ESG) characteristics into the investment process may not work as intended. • To the extent the Fund focuses on one or more sectors, the Fund may be subject to increased volatility and risk of loss if adverse developments occur. • Foreign investments may be more volatile and less liquid than U.S. investments and are subject to the risk of currency fluctuations and adverse political, economic and regulatory developments.
Composition by Sector(1)
as of 10/31/2022
Sector Percentage
of Net Assets
Equity Securities  
Communication Services 1.4%
Consumer Discretionary 5.0
Consumer Staples 8.4
Energy 8.8
Financials 19.3
Health Care 18.5
Industrials 11.4
Information Technology 9.5
Materials 3.9
Real Estate 3.9
Utilities 7.4
Total 97.5%
Short-Term Investments 3.4
Other Assets & Liabilities (0.9)
Total 100.0%
    
(1) A sector may be comprised of several industries. For Fund compliance purposes, the Fund may not use the same classification system. These sector classifications are used for financial reporting purposes.

14


The Hartford Growth Opportunities Fund
 Fund Overview
 October 31, 2022 (Unaudited) 

Inception 03/31/1963
Sub-advised by Wellington Management Company LLP
Investment objective – The Fund seeks capital appreciation.
Comparison of Change in Value of $10,000 Investment (10/31/2012 - 10/31/2022)
The chart above represents the hypothetical growth of a $10,000 investment in Class A, which includes the maximum sales charge applicable to Class A shares. Returns for the Fund’s other classes will vary from what is seen above due to differences in the expenses charged to those share classes.
Average Annual Total Returns
for the Periods Ended 10/31/2022
  1 Year 5 Years 10 Years
Class A1 -38.47% 7.85% 12.53%
Class A2 -41.85% 6.64% 11.89%
Class C1 -38.93% 7.05% 11.70%
Class C3 -39.24% 7.05% 11.70%
Class I1 -38.31% 8.14% 12.81%
Class R31 -38.69% 7.47% 12.15%
Class R41 -38.50% 7.80% 12.50%
Class R51 -38.33% 8.12% 12.83%
Class R61 -38.25% 8.23% 12.94%
Class Y1 -38.32% 8.17% 12.91%
Class F1 -38.25% 8.24% 12.87%
Russell 3000 Growth Index -24.67% 12.07% 14.37%
Russell 1000 Growth Index -24.60% 12.59% 14.69%
    
1 Without sales charge
2 Reflects maximum sales charge of 5.50%
3 Reflects a contingent deferred sales charge of 1.00%
PERFORMANCE DATA QUOTED REPRESENTS PAST PERFORMANCE AND DOES NOT GUARANTEE FUTURE RESULTS. The investment return and principal value of the investment will fluctuate so that investors’ shares, when redeemed, may be worth more or less than their original cost. The chart and table do not reflect the deductions of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares. Current performance may be lower or higher than the performance data quoted. To obtain performance data current to the most recent month-end, please visit our website hartfordfunds.com.
Total returns presented above were calculated using the applicable class' net asset value available to shareholders for sale or redemption of Fund shares on 10/31/2022, which may exclude investment transactions as of this date. All share class returns assume the reinvestment of all distributions at net asset value and the deduction of all fund expenses. The total returns presented in the Financial Highlights section of the report are calculated in the same manner, but also take into account certain
adjustments that are necessary under generally accepted accounting principles. As a result, the total returns in the Financial Highlights section may differ from the total returns presented above.
Class R6 shares commenced operations on 11/07/2014 and performance prior to that date is that of the Fund’s Class Y shares. Class F shares commenced operations on 02/28/2017 and performance prior to that date is that of the Fund’s Class I shares. Performance prior to an inception date of a class has not been adjusted to reflect the operating expenses of such class.
You cannot invest directly in an index.
See “Benchmark Glossary” for benchmark descriptions.
Performance information may reflect expense waivers/reimbursements without which performance would have been lower.
Operating Expenses* Gross Net
Class A 1.06% 1.06%
Class C 1.83% 1.83%
Class I 0.82% 0.82%
Class R3 1.45% 1.45%
Class R4 1.14% 1.14%
Class R5 0.84% 0.84%
Class R6 0.73% 0.73%
Class Y 0.84% 0.84%
Class F 0.73% 0.73%
    
* Expenses as shown in the Fund’s most recent prospectus. Actual expenses may be higher or lower. Please see accompanying Financial Highlights for expense ratios for the period ended 10/31/2022.
 

15


The Hartford Growth Opportunities Fund
 Fund Overview – (continued)
 October 31, 2022 (Unaudited) 

Portfolio Managers
Stephen Mortimer
Senior Managing Director and Equity Portfolio Manager
Wellington Management Company LLP
Mario E. Abularach, CFA, CMT
Senior Managing Director and Equity Research Analyst
Wellington Management Company LLP


Manager Discussion
How did the Fund perform during the period?
The Class A shares of The Hartford Growth Opportunities Fund returned -38.47%, before sales charges, for the twelve-month period ended October 31, 2022, underperforming the Fund’s primary benchmark, the Russell 3000 Growth Index, which returned -24.67% for the same period, and underperforming the Fund’s secondary benchmark, the Russell 1000 Growth Index, which returned -24.60% for the same period. For the same period, the Class A shares of the Fund, before sales charges, underperformed the -32.85% average return of the Lipper Multi-Cap Growth Funds peer group, a group of funds with investment strategies similar to those of the Fund.
Why did the Fund perform this way?
United States (U.S.) equities, as measured by the S&P 500 Index, fell over the trailing twelve-month period ending October 31, 2022. Markets rallied early in the period owing to robust equity inflows, strong corporate earnings, favorable economic data, and extremely accommodative financial conditions. However, the rapid spread of the Omicron COVID-19 variant led to the largest increase in U.S. COVID-19 cases since the onset of the pandemic, prompting a flurry of new restrictions and event cancellations. Inflation continued to surge against a backdrop of severe supply and labor shortages, rising energy prices, and high demand for goods and services, heightening scrutiny of the U.S. Federal Reserve (Fed) amid anxiety about a potential monetary policy mistake.
Equity markets fell sharply in the second quarter of 2022, as rampant inflation and tighter financial conditions negatively affected risk sentiment and increased the probability of recession. Rapidly rising prices for food and energy pushed consumer inflation to its highest level in more than four decades. Growth equities significantly underperformed their value counterparts as surging U.S. Treasury yields and disappointing earnings results from some of the largest technology companies drove the Nasdaq Composite Index to its biggest quarterly loss since September 2001. Equity market weakness persisted, as risk sentiment deteriorated on fears that aggressive interest rate increases and tighter financial conditions would constrict economic growth and drive the U.S. to recession. Despite these concerns, Fed Chair Jerome Powell made clear that the central bank remained committed to raising interest rates and keeping them elevated for longer until there is clear evidence that price pressures are abating.
Nine out of eleven sectors in the Russell 3000 Growth Index fell during the period, with the Communication Services (-47%), Consumer Discretionary (-33%), and Real Estate (-26%) sectors performing the worst. The Energy (+53%) and Consumer Staples (+2%) sectors performed the best during the period.
Security selection was the primary driver of underperformance relative to the Russell 3000 Growth Index during the period. Weak selection in the Information Technology, Healthcare, and Communication Services sectors was partially offset by strong selection within the Materials sector. Sector allocation, a result of the bottom-up stock selection process, also detracted from benchmark-relative performance during the period, due to an overweight to the Communication Services sector and underweights to the Consumer Staples and Energy sectors. This was partially offset by an overweight allocation to the Healthcare sector.
Top detractors from performance relative to the Russell 3000 Growth Index during the period included Apple (Information Technology), Snap (Communication Services), and Spotify (Communication Services). Not owning Apple detracted from relative performance as the company is perceived as a safe haven among tech equities within this uncertain environment. The Fund’s out-of-benchmark holding in Snap detracted from relative results. Shares of Snap sold off as a result of weakening trends in the digital advertising market. Due to the uncertainty of the global economy, the company did not issue financial guidance for the third quarter of 2022. We eliminated the position in the Fund during the period. The Fund’s overweight position to Spotify detracted from relative performance. Shares of Spotify fell during the period after the streaming music service reported first quarter 2022 forecasts for user growth that fell short of consensus expectations. Management blamed the forecast on its strong end to 2021, when they added 25 million users in the fourth quarter. Also weighing on shares was controversy involving podcast host Joe Rogan, whom users and artists say is spreading misinformation about COVID vaccines. The Fund reduced its position in Spotify during the period. Amazon (Consumer Discretionary) and Alphabet (Communication Services) were among the top absolute detractors during the period.
Top contributors to performance relative to the Russell 3000 Growth Index during the period included Netflix (Communication Services), Arista Networks (Information Technology), and Tesla (Consumer Discretionary). Not owning Netflix over most of the period proved beneficial. The share price of Netflix declined after the company announced first quarter 2022 earnings where it saw a loss of subscribers for the first time since 2011. The company also warned that it expects to lose two million subscribers in the second quarter of
 

16


The Hartford Growth Opportunities Fund
 Fund Overview – (continued)
 October 31, 2022 (Unaudited) 

2023 as new passwords sharing restrictions are introduced. We reinitiated a position in Netflix at the end of September 2022 based on our differentiated view of their launch of new advertising-supported pricing tiers. The Fund’s overweight position to Arista Networks contributed positively to relative results. Arista Networks, a software and hardware provider, did well during the period and continued to take share from competitors with strong demand in their cloud and enterprise businesses. Tesla’s stock experienced significant volatility over the period and the Fund’s underweight position proved beneficial. The Fund held the stock from mid-November 2021 to June 2022. News that Tesla’s CEO, Elon Musk, proposed to purchase Twitter for $44 billion raised investor concerns. Additionally, the electric vehicle maker continued to grapple with supply chain issues and COVID-related shutdowns in their Shanghai production facility. The market has also been concerned about increased competition in the electric vehicle space. Netflix (Communication Services) and Eli Lilly (Healthcare) were among the top absolute contributors during the period.
Derivatives were not used in the Fund during the period.
What is the outlook as of the end of the period?
Looking ahead, we expect volatility and uncertainty to persist as we close out the year. We continue to try to minimize downside potential while looking for longer-term upside potential. We believe the environment is likely to remain challenging in the near term.
At the end of the period, the Fund’s largest overweights were to the Communication Services and Healthcare sectors, and the Fund was most underweight to the Information Technology and Consumer Staples sectors relative to the Russell 3000 Growth Index.
Important Risks
Investing involves risk, including the possible loss of principal. Security prices fluctuate in value depending on general market and economic conditions and the prospects of individual companies. • Mid-cap securities can have greater risks and volatility than large-cap securities. • Different investment styles may go in and out of favor, which may cause the Fund to underperform the broader stock market. • To the extent the Fund focuses on one or more sectors, the Fund may be subject to increased volatility and risk of loss if adverse developments occur. • Foreign investments may be more volatile and less liquid than U.S. investments and are subject to the risk of currency fluctuations and adverse political, economic and regulatory developments. • The Fund may have high portfolio turnover, which could increase its transaction costs and an investor’s tax liability.
Composition by Sector(1)
as of 10/31/2022
Sector Percentage
of Net Assets
Equity Securities  
Communication Services 14.8%
Consumer Discretionary 18.5
Consumer Staples 1.0
Energy 2.3
Financials 5.1
Health Care 18.0
Industrials 5.4
Information Technology 28.9
Materials 3.2
Real Estate 1.0
Total 98.2%
Short-Term Investments 1.9
Other Assets & Liabilities (0.1)
Total 100.0%
    
(1) A sector may be comprised of several industries. For Fund compliance purposes, the Fund may not use the same classification system. These sector classifications are used for financial reporting purposes.

17


The Hartford Healthcare Fund
 Fund Overview
 October 31, 2022 (Unaudited) 

Inception 05/01/2000
Sub-advised by Wellington Management Company LLP
Investment objective – The Fund seeks long-term capital appreciation.
Comparison of Change in Value of $10,000 Investment (10/31/2012 - 10/31/2022)
The chart above represents the hypothetical growth of a $10,000 investment in Class A, which includes the maximum sales charge applicable to Class A shares. Returns for the Fund’s other classes will vary from what is seen above due to differences in the expenses charged to those share classes.
Average Annual Total Returns
for the Periods Ended 10/31/2022
  1 Year 5 Years 10 Years
Class A1 -13.35% 8.63% 13.54%
Class A2 -18.12% 7.41% 12.90%
Class C1 -13.99% 7.81% 12.70%
Class C3 -14.74% 7.81% 12.70%
Class I1 -13.11% 8.93% 13.85%
Class R31 -13.63% 8.27% 13.18%
Class R41 -13.38% 8.60% 13.52%
Class R51 -13.13% 8.92% 13.86%
Class R61 -13.01% 9.03% 13.97%
Class Y1 -13.12% 8.97% 13.94%
Class F1 -13.03% 9.04% 13.92%
S&P Composite 1500 Health Care Index -0.76% 12.23% 14.89%
S&P 500 Index -14.61% 10.44% 12.79%
    
1 Without sales charge
2 Reflects maximum sales charge of 5.50%
3 Reflects a contingent deferred sales charge of 1.00%
PERFORMANCE DATA QUOTED REPRESENTS PAST PERFORMANCE AND DOES NOT GUARANTEE FUTURE RESULTS. The investment return and principal value of the investment will fluctuate so that investors’ shares, when redeemed, may be worth more or less than their original cost. The chart and table do not reflect the deductions of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares. Current performance may be lower or higher than the performance data quoted. To obtain performance data current to the most recent month-end, please visit our website hartfordfunds.com.
Total returns presented above were calculated using the applicable class' net asset value available to shareholders for sale or redemption of Fund shares on 10/31/2022, which may exclude investment transactions as of this date. All share class returns assume the reinvestment of all distributions at net asset value and the deduction of all fund expenses. The total returns presented in the Financial Highlights section of the report are calculated in the same manner, but also take into account certain
adjustments that are necessary under generally accepted accounting principles. As a result, the total returns in the Financial Highlights section may differ from the total returns presented above.
Class R6 shares commenced operations on 02/28/2019 and performance prior to that date is that of the Fund’s Class Y shares. Class F shares commenced operations on 02/28/2017 and performance prior to that date is that of the Fund’s Class I shares. Performance prior to an inception date of a class has not been adjusted to reflect the operating expenses of such class.
You cannot invest directly in an index.
See “Benchmark Glossary” for benchmark descriptions.
Performance information may reflect expense waivers/reimbursements without which performance would have been lower.
Operating Expenses* Gross Net
Class A 1.24% 1.24%
Class C 2.01% 2.01%
Class I 0.98% 0.98%
Class R3 1.59% 1.59%
Class R4 1.29% 1.29%
Class R5 1.00% 1.00%
Class R6 0.88% 0.88%
Class Y 0.99% 0.99%
Class F 0.88% 0.88%
    
* Expenses as shown in the Fund’s most recent prospectus. Actual expenses may be higher or lower. Please see accompanying Financial Highlights for expense ratios for the period ended 10/31/2022.
 

18


The Hartford Healthcare Fund
 Fund Overview – (continued)
 October 31, 2022 (Unaudited) 

Portfolio Managers
Ann C. Gallo*
Senior Managing Director and Global Industry Analyst
Wellington Management Company LLP
Rebecca D. Sykes, CFA
Senior Managing Director and Global Industry Analyst
Wellington Management Company LLP
Wen Shi, PhD, CFA
Managing Director and Global Industry Analyst
Wellington Management Company LLP
David M. Khtikian, CFA
Managing Director and Global Industry Analyst
Wellington Management Company LLP
Fayyaz Mujtaba
Managing Director and Global Industry Analyst
Wellington Management Company LLP
* Effective February 28, 2023, Ms. Gallo will no longer serve as a portfolio manager to the Fund. Ms. Gallo will transition her portfolio management responsibilities for the Fund to Messrs. Khtikian and Mujtaba.


Manager Discussion
How did the Fund perform during the period?
The Class A shares of The Hartford Healthcare Fund returned -13.35%, before sales charges, for the twelve-month period ended October 31, 2022, underperforming the Fund’s benchmark, the S&P Composite 1500 Health Care Index, which returned -0.76% for the same period, while outperforming the S&P 500 Index, the Fund’s other benchmark, which returned -14.61% for the same period. For the same period, the Class A shares of the Fund, before sales charges, outperformed the -14.75% average return of the Lipper Global Health and Biotechnology peer group, a group of funds with investment strategies similar to those of the Fund.
Why did the Fund perform this way?
Healthcare equities (+0.9%) outperformed both the broader United States (U.S.) equity market (-14.6%) and the global equity market (-19.6%) during the period, as measured by the S&P 500 Healthcare Index, S&P 500 Index, and MSCI ACWI Index, respectively.
Within the S&P Composite 1500 Health Care Index, three of five sub-sectors posted negative absolute returns during the period. Small-cap Biopharma (-37.2%), Medical Technology (-24.9%), and mid-cap Biopharma (-5.9%) declined during the period. Large-cap Biopharma (+15.9%) and Healthcare Services (+13.9%) rose during the period.
Security selection was the primary detractor from the Fund’s performance relative to the S&P Composite 1500 Health Care Index during the period. Sector allocation also detracted from relative returns. Security selection detracted within all sectors. Selection was weakest in the mid-cap Biopharma and Health Care Services
sub-sectors. Within sector allocation, which is a by-product of the bottom-up stock selection process, an underweight allocation to large-cap Biopharma detracted most from relative performance during the period, while an underweight to Medical Technology contributed positively to relative returns.
AbbVie (large-cap Biopharma), Zai Lab (mid-cap Biopharma), and Johnson & Johnson (large-cap Biopharma) were the top detractors from performance relative to the S&P Composite 1500 Health Care Index over the period. Not owning AbbVie, a constituent of the S&P Composite 1500 Health Care Index, detracted from relative performance, as shares traded higher on news that the U.S. Food and Drug Administration (FDA) approved RINVOQ for the treatment of adults with active psoriatic arthritis who have had an inadequate response or intolerance to one or more tumor necrosis factor (TNF) inhibitors. AbbVie’s launches have done well in the marketplace, allaying some of the concerns about the upcoming biosimilar competition for its largest franchise Humira, which we still feel will be daunting. Shares of Zai Lab, a China-based biotech company with focus on in-licensing Western drugs for development and commercialization in China, declined over the period. The share price declined significantly in the past due to the pricing cut pressure in the China pharmaceutical market as well as ongoing macroeconomic and geopolitical concerns. However, we are seeing signs that government policy direction may be shifting towards encouraging innovation which we believe may drive better than anticipated sales potential for the company. The Fund’s lack of exposure to Johnson & Johnson (J&J), a constituent of the S&P Composite 1500 Health Care Index, was a detractor from relative performance during the period. Shares rose through the year due to encouraging quarterly earnings results, which showed strength in the immunology and oncology franchises, as well as the company’s announcement of a $5 billion stock repurchase
 

19


The Hartford Healthcare Fund
 Fund Overview – (continued)
 October 31, 2022 (Unaudited) 

program. Additionally, in an environment with rising interest rates and heightened geopolitical risk, and fears around a slowing global growth rate, large cap pharma has been seen as a safe haven for investors. Edwards Lifesciences, Align Technology, and Zoetis were the top absolute detractors from the Fund’s performance.
Eli Lilly (large-cap Biopharma), Moderna (large-cap Biopharma), and Abbott Laboratories (Medical Technology) contributed positively to results relative to the S&P Composite 1500 Health Care Index over the period. Shares of Eli Lilly rose after the company reported strong first quarter 2022 earnings results, but more importantly received FDA approval for its drug, tirzepatide, for the treatment of type 2 diabetes. Compelling pivotal data in the setting of non-diabetic obesity during the second quarter of 2022 also underscored the long-term value of this drug. More recently, the stock benefited from positive results in Eisai’s Alzheimer’s phase 3 trial which raised hopes for other anti-amyloid drugs including Eli Lilly’s drug donanemab. The Fund’s underweight to Moderna was a positive contributor to relative performance during the period, as shares have been pressured by uncertainties around future COVID-19 vaccine revenues, the success of other respiratory vaccines, and the utility of the mRNA platform beyond respiratory vaccines. As of the end of the period, the Fund continued to hold a position in Moderna as we believe the COVID-19 vaccine production has given Moderna not only sales and cash flows but has significantly increased the company’s capabilities in R&D and manufacturing to capitalize on future opportunities. Not owning Abbott Laboratories for the majority of the period was a positive contributor as shares underperformed during the period. Shares of Abbott Laboratories have been pressured as the company has faced short-term challenges including declines in COVID-19 testing demand as well as a voluntarily recall of several baby powder formulas in February 2022, including various Similac, Alimentum and EleCare branded products. We initiated a position in Abbott Laboratories recently in October 2022 as we found an attractive risk/reward opportunity following the stock’s underperformance. Top absolute contributors to the Fund’s performance during the period included Eli Lilly, UnitedHealth Group, and Bristol-Myers Squibb.
Derivatives were not used in a significant manner in the Fund during the period and did not have a material impact on performance during the period.
What is the outlook as of the end of the period?
As of the end of the period, attractive valuations, strong fundamentals, and robust innovation across the Healthcare sector leave us with a positive outlook. Starting with the biopharma sub-sector, we believe the prospects for value creation in the industry are especially strong as breakthrough innovation – particularly in oncology, immunology, and certain rare diseases — is generating a rich opportunity set for specialist investors. While the long-term implications of U.S. drug reform remain to be seen, we are encouraged by the lifting of this longstanding overhang on the biopharmaceutical industry and we believe that innovation will continue to drive value in the sector.
Outside of biopharma, the opportunity set is equally compelling, and we are just as enthusiastic about the opportunities within medical technology where innovation pipelines have never been stronger in our
view, with far more attractive medical device categories poised to accelerate in this decade versus the prior decade. In the coming years, we believe many firms will grow their addressable market through geographic expansion, new technologies, and the use of existing technologies to treat new patient populations.
Lastly and importantly, the overall delivery of health care continues to evolve, and we believe health care companies are well positioned to help solve one of the greatest societal challenges we face for the future: rising health care costs. The U.S., for example, is experiencing a decades-long transition toward a fee-for-value payment system from a historic fee-for-service approach, which we expect will result in new business models that have the potential to improve outcomes and reduce costs. These tailwinds across the various Healthcare subsectors, coupled with strong valuation support, leaves us with a positive outlook for the Healthcare sector.
In selecting equities for the Fund, we favor companies that develop innovative products designed to address important unmet medical needs. Over the long term, we believe that innovation, an aging population, and the globalization of demand for cutting-edge Western-style medicines are likely to continue to drive growth of the Healthcare sector.
Important Risks
Investing involves risk, including the possible loss of principal. Security prices fluctuate in value depending on general market and economic conditions and the prospects of individual companies. • Risks of focusing investments on the healthcare related sector include regulatory and legal developments, changes in funding or subsidies, patent and intellectual property considerations, intense competitive pressures, rapid technological changes, long and costly process for obtaining product approval by government agencies, potential product obsolescence, rising cost of medical products and services, and liquidity risk. • Small- and mid-cap securities can have greater risks and volatility than large-cap securities. • Foreign investments may be more volatile and less liquid than U.S. investments and are subject to the risk of currency fluctuations and adverse political, economic and regulatory developments. These risks may be greater, and include additional risks, for investments in emerging markets.
Composition by Subsector(1)
as of 10/31/2022
Subsector Percentage of
Net Assets
Equity Securities  
Biotechnology 13.6%
Consumer Finance 0.1
Health Care Equipment & Supplies 18.7
Health Care Providers & Services 24.6
Life Sciences Tools & Services 11.0
Pharmaceuticals 30.5
Total 98.5%
Short-Term Investments 1.2
Other Assets & Liabilities 0.3
Total 100.0%
    
(1) For Fund compliance purposes, the Fund may not use the same classification system. These subsector classifications are used for financial reporting purposes.

20


The Hartford MidCap Fund
 Fund Overview
 October 31, 2022 (Unaudited) 

Inception 12/31/1997
Sub-advised by Wellington Management Company LLP
Investment objective – The Fund seeks long-term growth of capital.
Comparison of Change in Value of $10,000 Investment (10/31/2012 - 10/31/2022)
The chart above represents the hypothetical growth of a $10,000 investment in Class A, which includes the maximum sales charge applicable to Class A shares. Returns for the Fund’s other classes will vary from what is seen above due to differences in the expenses charged to those share classes.
Average Annual Total Returns
for the Periods Ended 10/31/2022
  1 Year 5 Years 10 Years
Class A1 -24.83% 5.26% 10.65%
Class A2 -28.96% 4.07% 10.02%
Class C1 -25.38% 4.46% 9.83%
Class C3 -25.99% 4.46% 9.83%
Class I1 -24.63% 5.52% 10.91%
Class R31 -25.08% 4.88% 10.28%
Class R41 -24.86% 5.21% 10.62%
Class R51 -24.62% 5.53% 10.95%
Class R61 -24.56% 5.63% 11.07%
Class Y1 -24.58% 5.59% 11.04%
Class F1 -24.56% 5.63% 10.98%
S&P MidCap 400 Index -11.54% 7.47% 11.23%
    
1 Without sales charge
2 Reflects maximum sales charge of 5.50%
3 Reflects a contingent deferred sales charge of 1.00%
PERFORMANCE DATA QUOTED REPRESENTS PAST PERFORMANCE AND DOES NOT GUARANTEE FUTURE RESULTS. The investment return and principal value of the investment will fluctuate so that investors’ shares, when redeemed, may be worth more or less than their original cost. The chart and table do not reflect the deductions of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares. Current performance may be lower or higher than the performance data quoted. To obtain performance data current to the most recent month-end, please visit our website hartfordfunds.com.
Total returns presented above were calculated using the applicable class' net asset value available to shareholders for sale or redemption of Fund shares on 10/31/2022, which may exclude investment transactions as of this date. All share class returns assume the reinvestment of all distributions at net asset value and the deduction of all fund expenses. The total returns presented in the Financial Highlights section of the report are calculated in the same manner, but also take into account certain
adjustments that are necessary under generally accepted accounting principles. As a result, the total returns in the Financial Highlights section may differ from the total returns presented above.
Class R6 shares commenced operations on 11/07/2014 and performance prior to that date is that of the Fund’s Class Y shares. Class F shares commenced operations on 02/28/2017 and performance for Class F shares prior to 02/28/2017 reflects the performance of Class I shares. Performance prior to an inception date of a class has not been adjusted to reflect the operating expenses of such class.
You cannot invest directly in an index.
See “Benchmark Glossary” for benchmark descriptions.
Performance information may reflect expense waivers/reimbursements without which performance would have been lower. For information on current expense waivers/reimbursements, please see the prospectus.
Operating Expenses* Gross Net
Class A 1.07% 1.07%
Class C 1.84% 1.84%
Class I 0.85% 0.85%
Class R3 1.45% 1.45%
Class R4 1.15% 1.15%
Class R5 0.83% 0.83%
Class R6 0.73% 0.73%
Class Y 0.84% 0.79%
Class F 0.73% 0.73%
    
* Expenses as shown in the Fund’s most recent prospectus. Gross expenses do not reflect contractual fee waivers or expense reimbursement arrangements, if any. Net expenses reflect such arrangements only with respect to Classes I and Y and in instances when they reduce gross expenses. These arrangements remain in effect until 02/28/2023 unless the Fund’s Board of Directors approves an earlier termination. Actual expenses may be higher or lower. Please see accompanying Financial Highlights for expense ratios for the period ended 10/31/2022.
 

21


The Hartford MidCap Fund
 Fund Overview – (continued)
 October 31, 2022 (Unaudited) 

Portfolio Managers
Philip W. Ruedi, CFA
Senior Managing Director and Equity Portfolio Manager
Wellington Management Company LLP
Mark A. Whitaker, CFA
Senior Managing Director and Equity Portfolio Manager
Wellington Management Company LLP


Manager Discussion
How did the Fund perform during the period?
The Class A shares of The Hartford MidCap Fund returned -24.83%, before sales charges, for the twelve-month period ended October 31, 2022, underperforming the Fund’s benchmark, the S&P MidCap 400 Index, which returned -11.54% for the same period. For the same period, the Class A shares of the Fund, before sales charges, outperformed the -29.65% average return of the Morningstar Mid-Cap Growth Funds peer group, a group of funds with investment strategies similar to that of the Fund.
Why did the Fund perform this way?
United States (U.S.) equities, as measured by the S&P 500 Index, posted negative results over the trailing twelve-month period ending October 31, 2022. Markets rallied early in the period on the back of robust equity inflows, strong corporate earnings, favorable economic data, and extremely accommodative financial conditions. However, the rapid spread of the Omicron variant of the coronavirus led to the largest increase in U.S. COVID-19 cases since the onset of the pandemic, prompting a flurry of new restrictions and event cancellations. Inflation continued to surge against a backdrop of severe supply and labor shortages, rising energy prices, and high demand for goods and services, heightening scrutiny of the U.S. Federal Reserve (Fed) amid anxiety about a potential monetary policy mistake. Equity markets fell sharply in the second quarter of 2022, as rampant inflation and tighter financial conditions negatively affected risk sentiment and increased the probability of recession. Rapidly rising prices for food and energy pushed consumer inflation to its highest level in more than four decades. Growth equities significantly underperformed their value counterparts as surging Treasury yields and disappointing earnings results from some of the largest technology companies drove the Nasdaq Composite Index to its biggest quarterly loss since September 2001. Equity market weakness persisted, as risk sentiment deteriorated on fears that aggressive interest-rate increases and tighter financial conditions would constrict economic growth and drive the U.S. to recession. Despite these concerns, Fed Chair Jerome Powell made clear that the central bank is committed to raising interest rates and keeping them elevated for longer until there is clear evidence that price pressures are abating.
Returns varied by market cap during the period. Large-cap equities, as measured by the S&P 500 Index, underperformed mid-cap equities, as measured by the S&P MidCap 400 Index. During the period, mid-cap equities, as measured by the S& P MidCap 400 Index, outperformed small-cap equities, as measured by the Russell 2000 Index.
Within the S&P MidCap 400 Index, seven out of the eleven sectors posted negative returns during the period. The Communication Services (-24%), Information Technology (-23%), and Consumer Discretionary (-23%) sectors performed the worst, while the Energy (+44%), Consumer Staples (+4%) and Utilities (+4%) sectors performed the best.
The Fund underperformed the S& P MidCap 400 Index during the twelve-month period primarily due to negative security selection. Selection effects were particularly weak within the Information Technology, Healthcare, and Consumer Discretionary sectors. This was partially offset by strong selection in the Materials, Consumer Staples, and Utilities sectors, which contributed positively to performance during the period. Sector allocation, a result of our bottom-up stock selection process, also detracted from the Fund’s performance relative to the S&P MidCap 400 Index during the period. This was primarily due to an overweight allocation to the Information Technology and Healthcare sectors and an underweight to the Energy sector. This was partially offset by underweights to the Real Estate and Consumer Discretionary sectors, which contributed positively to performance during the period.
Top detractors from the Fund’s relative performance for the period included Etsy (Consumer Discretionary), YETI (Consumer Discretionary), and First Solar (Information Technology). The share price of handmade crafts e-commerce platform Etsy fell early in the period as holiday sales data underwhelmed investors despite management releasing solid third quarter results in November 2021. Following the platform's success as a leading supplier of homemade cloth face masks during the pandemic, customer retention came under close scrutiny as new user growth abated. Shares of YETI declined after the company reported second-quarter earnings that missed estimates and lowered full-year 2022 guidance. Sales were below expectations due to slower customer acquisition and digital traffic including Amazon Marketplace. Gross margin and operating expenses were impacted by logistics and distribution cost inflation and a market shift towards wholesale, specifically coolers and equipment. Shares of First Solar, a renewable energy and solar company, declined early in the period amid uncertainty surrounding the Inflation Reduction Act, as well as California’s Public Utilities Commission weighing the possibility of reforming home rooftop solar net metering subsidies.
Top contributors to relative performance during the period included Apellis Pharmaceutical (Healthcare), Arena Pharmaceutical (Healthcare), and Wingstop (Consumer Discretionary). Shares of Apellis Pharmaceuticals rose as the company announced that the U.S. Food and Drug Administration (FDA) accepted the New Drug
 

22


The Hartford MidCap Fund
 Fund Overview – (continued)
 October 31, 2022 (Unaudited) 

Application for pegcetacoplan and assigned it Priority Review with an expected approval date of November 2022. If approved, pegcetacoplan will be the first treatment for Geotrophic Atrophy, a disease that causes vision loss. Apellis also plans to submit a marketing authorization application to the European Medicines Agency. Shares of Arena Pharmaceuticals soared during the period on news that Pfizer would acquire the company in a $6.7 billion cash deal that was expected to close in the first half of 2022. Arena’s pipeline drug Etrasimod was a key asset in the deal. Etrasimod is in development for the treatment of immuno-inflammatory diseases including ulcerative colitis. Shares of Wingstop, a franchisor and operator of restaurants, rose over the period. Share price jumped as management reported strong second-quarter 2022 results and reiterated full year guidance. The company also reported 67 net new restaurants and 7.5% growth in system-wide sales in the second quarter of 2022.
Derivatives were not used in the Fund during the period.
What is the outlook as of the end of the period?
As of the end of the period, we continue to feel that our holdings within the Energy sector look attractive within our fundamentals, valuation, and expectations (F/V/E) framework. As a result, we increased the weight in the Fund’s existing Energy positions, ending the period with a modest overweight versus the S&P MidCap 400 Index. In addition to Energy, we feel the transportation industry presents an attractive combination of valuation and business quality. Toward the end of the period, we increased the Fund’s positions in CH Robinson, a non-asset-based truck broker and air and ocean forwarder, and Expeditors International, which arranges the transportation of freight globally.
As of the end of the period, market volatility gave us opportunities to invest in several companies that had previously graduated from the mid cap opportunity set. Positions that we increased at the end of the period within this category included Bio-Techne, which sells bio-reactive proteins for cell culture development and gene therapy treatments, and Verisign, a domain name manager. These purchases were largely funded from positions within the Information Technology sector, and more specifically information technology infrastructure. In our view, earnings for these companies have been under increased pressure given the rising interest rate and inflationary environment.
At the end of the period, the Fund’s largest overweights were in the Information Technology and Healthcare sectors relative to the S&P MidCap 400 Index. The Fund was most underweight to the Financials and Real Estate sectors relative to the S&P MidCap 400 Index as of the end of the period.
Important Risks
Investing involves risk, including the possible loss of principal. Security prices fluctuate in value depending on general market and economic conditions and the prospects of individual companies. • Mid-cap securities can have greater risks and volatility than large-cap securities. • Integration of environmental, social, and/or governance (ESG) characteristics into the investment process may not work as
intended. • To the extent the Fund focuses on one or more sectors, the Fund may be subject to increased volatility and risk of loss if adverse developments occur.
Composition by Sector(1)
as of 10/31/2022
Sector Percentage
of Net Assets
Equity Securities  
Communication Services 2.2%
Consumer Discretionary 12.1
Energy 6.7
Financials 8.4
Health Care 19.1
Industrials 21.5
Information Technology 23.7
Materials 4.3
Real Estate 1.3
Utilities 0.9
Total 100.2%
Short-Term Investments 2.3
Other Assets & Liabilities (2.5)
Total 100.0%
    
(1) A sector may be comprised of several industries. For Fund compliance purposes, the Fund may not use the same classification system. These sector classifications are used for financial reporting purposes.

23


The Hartford MidCap Value Fund
 Fund Overview
 October 31, 2022 (Unaudited) 

Inception 04/30/2001
Sub-advised by Wellington Management Company LLP
Investment objective – The Fund seeks long-term capital appreciation.
Comparison of Change in Value of $10,000 Investment (10/31/2012 - 10/31/2022)
The chart above represents the hypothetical growth of a $10,000 investment in Class A, which includes the maximum sales charge applicable to Class A shares. Returns for the Fund’s other classes will vary from what is seen above due to differences in the expenses charged to those share classes.
Average Annual Total Returns
for the Periods Ended 10/31/2022
  1 Year 5 Years 10 Years
Class A1 -4.34% 5.97% 9.28%
Class A2 -9.60% 4.78% 8.67%
Class C1 -5.07% 5.18% 8.48%
Class C3 -5.93% 5.18% 8.48%
Class I1 -4.06% 6.32% 9.62%
Class R31 -4.58% 5.67% 8.98%
Class R41 -4.31% 5.99% 9.31%
Class R51 -4.03% 6.29% 9.64%
Class R61 -3.92% 6.43% 9.70%
Class Y1 -4.09% 6.34% 9.71%
Class F1 -3.94% 6.42% 9.70%
Russell Midcap Value Index -10.18% 6.49% 10.42%
    
1 Without sales charge
2 Reflects maximum sales charge of 5.50%
3 Reflects a contingent deferred sales charge of 1.00%
PERFORMANCE DATA QUOTED REPRESENTS PAST PERFORMANCE AND DOES NOT GUARANTEE FUTURE RESULTS. The investment return and principal value of the investment will fluctuate so that investors’ shares, when redeemed, may be worth more or less than their original cost. The chart and table do not reflect the deductions of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares. Current performance may be lower or higher than the performance data quoted. To obtain performance data current to the most recent month-end, please visit our website hartfordfunds.com.
Total returns presented above were calculated using the applicable class' net asset value available to shareholders for sale or redemption of Fund shares on 10/31/2022, which may exclude investment transactions as of this date. All share class returns assume the reinvestment of all distributions at net asset value and the deduction of all fund expenses. The total returns presented in the Financial Highlights section of the report are calculated in the same manner, but also take into account certain
adjustments that are necessary under generally accepted accounting principles. As a result, the total returns in the Financial Highlights section may differ from the total returns presented above.
Class R6 shares commenced operations on 06/22/2022 and performance for Class R6 shares prior to 06/22/2022 reflects the performance of Class F shares from 02/28/2017 through 06/21/2022 and Class I shares prior to 02/28/2017. Class F shares commenced operations on 02/28/2017 and performance for Class F shares prior to 02/28/2017 reflects the performance of Class I shares. Performance prior to an inception date of a class has not been adjusted to reflect the operating expenses of such class.
You cannot invest directly in an index.
See “Benchmark Glossary” for benchmark descriptions.
Performance information may reflect expense waivers/reimbursements without which performance would have been lower.
Operating Expenses* Gross Net
Class A 1.18% 1.18%
Class C 1.96% 1.96%
Class I 0.85% 0.85%
Class R3 1.49% 1.49%
Class R4 1.19% 1.19%
Class R5 0.89% 0.89%
Class R6 0.77% 0.77%
Class Y 0.88% 0.88%
Class F 0.77% 0.77%
    
* Expenses as shown in the Fund’s most recent prospectus. Actual expenses may be higher or lower. Please see accompanying Financial Highlights for expense ratios for the period ended 10/31/2022.
 

24


The Hartford MidCap Value Fund
 Fund Overview – (continued)
 October 31, 2022 (Unaudited) 

Portfolio Manager
Gregory J. Garabedian
Senior Managing Director and Equity Portfolio Manager
Wellington Management Company LLP


Manager Discussion
How did the Fund perform during the period?
The Class A shares of The Hartford MidCap Value Fund returned -4.34%, before sales charges, for the twelve-month period ended October 31, 2022, outperforming the Fund’s benchmark, the Russell Midcap Value Index, which returned -10.18% for the same period. For the same period, the Class A shares of the Fund, before sales charges, outperformed the -10.61% average return of the Lipper MidCap Core Fund peer group, a group of funds with investment strategies similar to those of the Fund.
Why did the Fund perform this way?
United States (U.S.) equities fell over the trailing twelve-month period ended October 31, 2022. Markets rallied early in the period on the back of robust equity inflows, strong corporate earnings, favorable economic data, and extremely accommodative financial conditions. However, the rapid spread of the Omicron variant of the coronavirus led to the largest increase in U.S. COVID-19 cases since the onset of the pandemic, prompting a flurry of new restrictions and event cancellations. Inflation continued to surge against a backdrop of severe supply and labor shortages, rising energy prices, and high demand for goods and services, heightening scrutiny of the U.S. Federal Reserve (Fed) amid anxiety about a potential monetary policy mistake.
Equity markets fell sharply in the second quarter of 2022, as rampant inflation and tighter financial conditions negatively affected risk sentiment and increased the probability of recession. Rapidly rising prices for food and energy pushed consumer inflation to its highest level in more than four decades. Growth equities significantly underperformed their value counterparts as surging Treasury yields and disappointing earnings results from some of the largest technology companies drove the Nasdaq Composite Index to its biggest quarterly loss since September 2001. Equity market weakness persisted, as risk sentiment deteriorated on fears that aggressive interest-rate increases and tighter financial conditions would constrict economic growth and drive the U.S. to recession. Despite these concerns, Fed Chair Jerome Powell made clear that the central bank is committed to raising interest rates and keeping them elevated for longer until there is clear evidence that price pressures are abating.
Returns varied by market cap during the period, as mid-cap equities, measured by the S&P MidCap 400 Index, outperformed both small- and large-cap equities, as measured by the Russell 2000 Index and the S&P 500 Index, respectively. Returns within the mid-cap space varied by style, as the Russell Midcap Value Index outperformed the Russell Midcap Growth Index.
Eight out of eleven sectors in the Russell Midcap Value Index declined during the period, with the Communication Services (-32%), Consumer Discretionary (-22%), and Information Technology (-21%) sectors lagging most. Conversely, the Energy (+55%), Consumer Staples (+8%), and Utilities (+5%) sectors were the top performers and delivered positive returns during the period.
Security selection was the primary driver of the Fund’s relative outperformance versus the Russell Midcap Value Index over the period; sector allocation decisions also contributed positively, albeit more modestly. Selection within the Financials, Real Estate, and Healthcare sectors were the top drivers of relative performance. This was partially offset by weaker security selection in the Information Technology sector. Sector allocation, a result of our bottom-up stock selection process, also contributed positively to the Fund’s performance. Underweight exposure to the Real Estate and Communication Services sectors added the most to returns during the period, but was partially offset by underweight allocations to the Consumer Staples and Energy sectors.
Top security contributors to the Fund’s performance relative to the Russell Midcap Value Index over the period included an overweight position to Coterra Energy (Energy), an out-of-benchmark position in Centene (Healthcare), and an overweight position in Diamondback Energy (Energy). Shares of Coterra Energy and Diamondback Energy rose along with other oil and gas equities over the period as a supply and demand imbalance drove oil prices higher. Centene shares rose during the period as Medicaid and Medicare membership growth and recent acquisitions drove strong operational results, resulting in management raising its full-year guidance.
Top detractors from the Fund’s relative performance during the period included overweight positions in Syneos Health (Healthcare), Spirit AeroSystems (Industrials), and Six Flags Entertainment (Consumer Discretionary). Shares of Syneos Health, a clinical research organization, trended lower over the reporting period as the small- to mid-cap biotech sector came under pressure over funding concerns. The company also reported disappointing operational results due to slower decision-making from larger pharmaceutical companies, which heightened investor concerns of slowing industry growth. Shares of Spirit AeroSystems fell over the period. The company’s cash burn rate increased as Boeing’s lower production rate slowed Spirit’s reduction of inventory, exacerbated by continued inflationary pressure. Shares of Six Flags, an American amusement park corporation, fell during the period. Despite the company reporting a narrower-than-expected first-quarter loss and revenue that beat forecasts, shares declined as attendance came in below consensus estimates and concerns around a slowdown in consumer spending caused by inflation and rising interest rates posed challenges to the company’s outlook as it approached peak season.
 

25


The Hartford MidCap Value Fund
 Fund Overview – (continued)
 October 31, 2022 (Unaudited) 

Derivatives were not used in the Fund during the period.
What is the outlook as of the end of the period?
Given what we see as a wide range of economic outcomes as of the end of the period, we have continued to emphasize quality across the Fund’s portfolio. We are stress-testing models and balance sheets, and are actively seeking to identify new opportunities created by the market turmoil during the period. Over the period, we increased the Fund’s exposures to the Energy and Information Technology sectors while reducing the Fund’s weights to the Real Estate and Materials sectors. As of the end of the period, we continue to seek opportunities that we believe offer a compelling combination of valuation, quality, and capital return.
Important Risks
Investing involves risk, including the possible loss of principal. Security prices fluctuate in value depending on general market and economic conditions and the prospects of individual companies. • Mid-cap securities can have greater risks and volatility than large-cap securities. • Different investment styles may go in and out of favor, which may cause the Fund to underperform the broader stock market. • Foreign investments may be more volatile and less liquid than U.S. investments and are subject to the risk of currency fluctuations and adverse political, economic and regulatory developments. • To the extent the Fund focuses on one or more sectors, the Fund may be subject to increased volatility and risk of loss if adverse developments occur.
Composition by Sector(1)
as of 10/31/2022
Sector Percentage
of Net Assets
Equity Securities  
Communication Services 2.5%
Consumer Discretionary 11.3
Consumer Staples 2.5
Energy 6.0
Financials 20.7
Health Care 9.9
Industrials 20.8
Information Technology 10.3
Materials 3.6
Real Estate 6.4
Utilities 5.3
Total 99.3%
Short-Term Investments 0.4
Other Assets & Liabilities 0.3
Total 100.0%
    
(1) A sector may be comprised of several industries. For Fund compliance purposes, the Fund may not use the same classification system. These sector classifications are used for financial reporting purposes.

26


Hartford Quality Value Fund
 Fund Overview
 October 31, 2022 (Unaudited) 

Inception 01/02/1996
Sub-advised by Wellington Management Company LLP
Investment objective – The Fund seeks long-term capital appreciation.
Comparison of Change in Value of $10,000 Investment (10/31/2012 - 10/31/2022)
The chart above represents the hypothetical growth of a $10,000 investment in Class A, which includes the maximum sales charge applicable to Class A shares. Returns for the Fund’s other classes will vary from what is seen above due to differences in the expenses charged to those share classes.
Average Annual Total Returns
for the Periods Ended 10/31/2022
  1 Year 5 Years 10 Years
Class A1 -4.19% 8.15% 10.18%
Class A2 -9.46% 6.93% 9.56%
Class C1 -4.95% 7.31% 9.36%
Class C3 -5.84% 7.31% 9.36%
Class I1 -3.92% 8.50% 10.54%
Class R31 -4.41% 7.89% 9.90%
Class R41 -4.15% 8.19% 10.23%
Class R51 -3.92% 8.49% 10.54%
Class R61 -3.71% 8.65% 10.66%
Class Y1 -3.85% 8.54% 10.60%
Class F1 -3.78% 8.63% 10.61%
Russell 1000 Value Index -7.00% 7.21% 10.30%
    
1 Without sales charge
2 Reflects maximum sales charge of 5.50%
3 Reflects a contingent deferred sales charge of 1.00%
PERFORMANCE DATA QUOTED REPRESENTS PAST PERFORMANCE AND DOES NOT GUARANTEE FUTURE RESULTS. The investment return and principal value of the investment will fluctuate so that investors’ shares, when redeemed, may be worth more or less than their original cost. The chart and table do not reflect the deductions of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares. Current performance may be lower or higher than the performance data quoted. To obtain performance data current to the most recent month-end, please visit our website hartfordfunds.com.
Total returns presented above were calculated using the applicable class' net asset value available to shareholders for sale or redemption of Fund shares on 10/31/2022, which may exclude investment transactions as of this date. All share class returns assume the reinvestment of all distributions at net asset value and the deduction of all fund expenses. The total returns presented in the Financial Highlights section of the report are calculated in the same manner, but also take into account certain
adjustments that are necessary under generally accepted accounting principles. As a result, the total returns in the Financial Highlights section may differ from the total returns presented above.
The returns include the Fund’s performance when the Fund pursued a different investment objective and principal investment strategy prior to 11/01/2017.
Class R6 shares commenced operations on 02/28/2018 and performance prior to that date is that of the Fund’s Class Y shares. Class F shares commenced operations on 02/28/2017 and performance prior to that date is that of the Fund’s Class I shares. Performance prior to an inception date of a class has not been adjusted to reflect the operating expenses of such class.
You cannot invest directly in an index.
See “Benchmark Glossary” for benchmark descriptions.
Performance information may reflect expense waivers/reimbursements without which performance would have been lower. For information on current expense waivers/reimbursements, please see the prospectus.
 

27


Hartford Quality Value Fund
 Fund Overview – (continued)
 October 31, 2022 (Unaudited) 

Operating Expenses* Gross Net
Class A 0.97% 0.96%
Class C 1.80% 1.71%
Class I 0.65% 0.65%
Class R3 1.27% 1.18%
Class R4 0.97% 0.88%
Class R5 0.67% 0.63%
Class R6 0.56% 0.46%
Class Y 0.66% 0.57%
Class F 0.56% 0.46%
    
* Expenses as shown in the Fund’s most recent prospectus. Gross expenses do not reflect contractual expense reimbursement arrangements. Net expenses reflect such arrangements in instances when they reduce gross expenses. These arrangements remain in effect until 02/28/2023 unless the Fund’s Board of Directors approves an earlier termination. Actual expenses may be higher or lower. Please see accompanying Financial Highlights for expense ratios for the period ended 10/31/2022.

 
Portfolio Managers
Matthew G. Baker
Senior Managing Director and Equity Portfolio Manager
Wellington Management Company LLP
Nataliya Kofman
Managing Director and Equity Portfolio Manager
Wellington Management Company LLP


Manager Discussion
How did the Fund perform during the period?
The Class A shares of the Hartford Quality Value Fund returned -4.19%, before sales charges, for the twelve-month period ended October 31, 2022, outperforming the Fund’s benchmark, the Russell 1000 Value Index, which returned -7.00% for the same period. For the same period, the Class A shares of the Fund, before sales charges, outperformed the -6.24% average return of the Lipper Large Cap Value Fund peer group, a group of funds with investment strategies similar to those of the Fund.
Why did the Fund perform this way?
United States (U.S.) equities fell over the trailing twelve-month period ended October 31, 2022. Markets rallied early in the period on the back of robust equity inflows, strong corporate earnings, favorable economic data, and extremely accommodative financial conditions. However, the rapid spread of the Omicron variant of the coronavirus led to the largest increase in U.S. COVID-19 cases since the onset of the pandemic, prompting a flurry of new restrictions and event cancellations. Inflation continued to surge against a backdrop of severe supply and labor shortages, rising energy prices, and high demand for goods and services, heightening scrutiny of the U.S. Federal Reserve (Fed) amid anxiety about a potential monetary policy mistake.
Equity markets fell sharply in the second quarter of 2022, as rampant inflation and tighter financial conditions negatively affected risk sentiment and increased the probability of recession. Rapidly rising prices for food and energy pushed consumer inflation to its highest level in more than four decades. Growth equities significantly underperformed their value counterparts as surging Treasury yields and disappointing earnings results from some of the largest technology companies drove the Nasdaq Composite Index to its biggest quarterly loss since September 2001. Equity market weakness persisted, as risk sentiment deteriorated on fears that aggressive interest-rate increases and tighter financial conditions would constrict economic growth and drive the U.S. to recession. Despite these concerns, Fed Chair Jerome Powell made clear that the central bank is committed to raising interest rates and keeping them elevated for longer until there is clear evidence that price pressures are abating.
Seven out of eleven sectors within the Russell 1000 Value Index declined over the period, with the Communication Services (-30%), Information Technology (-23%), and Real Estate (-20%) sectors lagging the most. Conversely, the Energy (+65%), Consumer Staples (+5%), and Utilities (+3%) sectors performed best over the period.
Security selection contributed positively to Fund performance relative to the Russell 1000 Value Index over the period, while sector allocation slightly detracted from the Fund’s relative performance. Strong stock selection within the Industrials, Financials, and Consumer Discretionary sectors were the top positive contributors to relative performance. This was partially offset by weaker security selection within the Healthcare, Energy, and Utilities sectors during the
 

28


Hartford Quality Value Fund
 Fund Overview – (continued)
 October 31, 2022 (Unaudited) 

period. Sector allocation, a result of our bottom-up stock selection process, detracted from relative performance during the period due to the Fund’s underweight allocation to the Energy sector and overweight allocation to the Information Technology sector.
Top contributors to performance relative to the Russell 1000 Value Index over the period were an overweight position in Lockheed Martin (Industrials), not owning Meta Platforms (Communication Services), and an overweight position in Principal Financial Group (Financials). Shares of Lockheed Martin trended higher during the period along with other defense equities in response to the Ukraine-Russia conflict. Germany also announced plans to bolster its military strength for the first time in decades by almost doubling its military spending and announced plans to buy fighter planes made in the U.S. The share price of Meta Platforms, a U.S.-based social networking operator, fell during the period after management released disappointing quarterly results and weak near-term guidance. The company reported that quarterly revenue declined more than 4% year over year and its second straight quarterly decline in the second quarter of 2022. Shares of Principal Financial Group ended the period higher after the investment management and insurance company reported second-quarter adjusted operating earnings per share (EPS) that were above expectations, as strong customer growth and increasing investment yields helped mitigate macroeconomic challenges.
The largest detractors from the Fund’s performance relative to the Russell 1000 Value Index over the period were not owning Exxon Mobil (Energy), an out-of-benchmark position in Koninklijke Philips (Healthcare), and an overweight position in Celanese (Materials). Shares of Exxon Mobil rose during the period along with the rest of the Energy sector on increasing earnings and revenue from rising oil prices. The company also announced a $30 billion share buyback. Shares of Koninklijke Philips fell during the period as the U.S. Food and Drug Administration (FDA) reported that instances of faulty Philips ventilators and sleep apnea machines had risen. The company also lowered full-year sales guidance and announced that longtime Chief Executive Officer (CEO) Frans van Houten would be replaced by Roy Jakobs, the Philips executive heading the recall operation. Shares of Celanese, a global chemical and specialty materials company, declined over the period as the business continued to be impacted by the persistent inflationary environment and volatile supply-chain backdrop. The company reported mixed earnings throughout the period, beating EPS estimates in April 2022 and July 2022 but failing to do so in January 2022.
Derivatives were not used in the Fund during the period.
What is the outlook as of the end of the period?
Markets ended the period lower as investors braced for recession; however, the timing and magnitude is still unknown. Consumer demand has been resilient despite rising interest rates, but we believe we are starting to see the first indicators of economic pull-back despite the record strength of the labor market. Inflation has likely peaked in the U.S., but a change in tighter monetary policy by the Fed is unlikely, in our view, and we have not ruled out the potential for additional meaningful interest-rate increases before the end of 2022. Market volatility continues to be driven by a steady state of macroeconomic crosscurrents ranging from supply-chain bottlenecks
to Russia’s invasion of Ukraine. In the current environment, we are seeking to avoid taking undue risk within the Fund by focusing on long-term value creation potential and predictable ranges of outcomes.
We continue to anticipate negative impacts from inflationary pressures and restrictive monetary policy through at least the end of 2022. As of the end of the period, the Fund remains positioned for persistent inflation and decelerating growth by focusing on companies with balance-sheet strength, sustainable and growing cash flows, and high-quality management teams, in our view. We believe that opportunistically investing in out-of-favor growth and cyclical names with positive risk/reward skews may provide upside potential, while maintaining an overweight to more defensive segments may insulate the portfolio from macroeconomic shocks and valuation-driven corrections.
At the end of the period, the Fund’s largest overweights were to the Information Technology and Consumer Staples sectors, while the Fund’s largest underweights were to the Energy and Communication Services sectors, relative to the Russell 1000 Value Index.
Important Risks
Investing involves risk, including the possible loss of principal. Security prices fluctuate in value depending on general market and economic conditions and the prospects of individual companies. • Different investment styles may go in and out of favor, which may cause the Fund to underperform the broader stock market. • For dividend-paying stocks, dividends are not guaranteed and may decrease without notice. • Integration of environmental, social, and/or governance (ESG) characteristics into the investment process may not work as intended. • To the extent the Fund focuses on one or more sectors, the Fund may be subject to increased volatility and risk of loss if adverse developments occur.
Composition by Sector(1)
as of 10/31/2022
Sector Percentage
of Net Assets
Equity Securities  
Communication Services 6.0%
Consumer Discretionary 5.6
Consumer Staples 8.3
Energy 6.6
Financials 20.7
Health Care 17.3
Industrials 10.8
Information Technology 10.1
Materials 3.6
Real Estate 4.2
Utilities 5.2
Total 98.4%
Short-Term Investments 1.0
Other Assets & Liabilities 0.6
Total 100.0%
    
(1) A sector may be comprised of several industries. For Fund compliance purposes, the Fund may not use the same classification system. These sector classifications are used for financial reporting purposes.

29


The Hartford Small Cap Growth Fund
 Fund Overview
 October 31, 2022 (Unaudited) 

Inception 01/04/1988
Sub-advised by Wellington Management Company LLP
Investment objective – The Fund seeks long-term capital appreciation.
Comparison of Change in Value of $10,000 Investment (10/31/2012 - 10/31/2022)
The chart above represents the hypothetical growth of a $10,000 investment in Class A, which includes the maximum sales charge applicable to Class A shares. Returns for the Fund’s other classes will vary from what is seen above due to differences in the expenses charged to those share classes.
Average Annual Total Returns
for the Periods Ended 10/31/2022
  1 Year 5 Years 10 Years
Class A1 -28.75% 4.00% 9.48%
Class A2 -32.67% 2.83% 8.86%
Class C1 -29.27% 3.29% 8.73%
Class C3 -29.76% 3.29% 8.73%
Class I1 -28.50% 4.39% 9.84%
Class R31 -28.93% 3.73% 9.20%
Class R41 -28.72% 4.05% 9.54%
Class R51 -28.51% 4.37% 9.87%
Class R61 -28.44% 4.47% 9.97%
Class Y1 -28.47% 4.43% 9.95%
Class F1 -28.42% 4.48% 9.91%
Russell 2000 Growth Index -26.02% 5.17% 10.15%
    
1 Without sales charge
2 Reflects maximum sales charge of 5.50%
3 Reflects a contingent deferred sales charge of 1.00%
PERFORMANCE DATA QUOTED REPRESENTS PAST PERFORMANCE AND DOES NOT GUARANTEE FUTURE RESULTS. The investment return and principal value of the investment will fluctuate so that investors’ shares, when redeemed, may be worth more or less than their original cost. The chart and table do not reflect the deductions of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares. Current performance may be lower or higher than the performance data quoted. To obtain performance data current to the most recent month-end, please visit our website hartfordfunds.com.
Total returns presented above were calculated using the applicable class' net asset value available to shareholders for sale or redemption of Fund shares on 10/31/2022, which may exclude investment transactions as of this date. All share class returns assume the reinvestment of all distributions at net asset value and the deduction of all fund expenses. The total returns presented in the Financial Highlights section of the report are calculated in the same manner, but also take into account certain adjustments that are necessary under generally accepted accounting principles. As a
result, the total returns in the Financial Highlights section may differ from the total returns presented above.
Class R6 shares commenced operations on 11/07/2014 and performance prior to that date is that of the Fund’s Class Y shares. Class F shares commenced operations on 02/28/2017 and performance prior to that date is that of the Fund’s Class I shares. Performance prior to an inception date of a class has not been adjusted to reflect the operating expenses of such class.
You cannot invest directly in an index.
See “Benchmark Glossary” for benchmark descriptions.
Performance information may reflect expense waivers/reimbursements without which performance would have been lower. For information on current expense waivers/reimbursements, please see the prospectus.
Operating Expenses* Gross Net
Class A 1.19% 1.19%
Class C 1.90% 1.90%
Class I 0.84% 0.84%
Class R3 1.48% 1.48%
Class R4 1.18% 1.18%
Class R5 0.87% 0.87%
Class R6 0.77% 0.77%
Class Y 0.87% 0.83%
Class F 0.77% 0.77%
    
* Expenses as shown in the Fund’s most recent prospectus. Gross expenses do not reflect contractual fee waivers or expense reimbursement arrangements, if any. Net expenses reflect such arrangements only with respect to Class Y. These arrangements remain in effect until 02/28/2023 unless the Fund’s Board of Directors approves an earlier termination. Actual expenses may be higher or lower. Please see accompanying Financial Highlights for expense ratios for the period ended 10/31/2022.
 

30


The Hartford Small Cap Growth Fund
 Fund Overview – (continued)
 October 31, 2022 (Unaudited) 


 
Portfolio Managers
Mammen Chally, CFA
Senior Managing Director and Equity Portfolio Manager
Wellington Management Company LLP
David A. Siegle, CFA
Managing Director and Equity Research Analyst
Wellington Management Company LLP
Douglas W. McLane, CFA
Senior Managing Director and Equity Portfolio Manager
Wellington Management Company LLP


Manager Discussion
How did the Fund perform during the period?
The Class A shares of The Hartford Small Cap Growth Fund returned -28.75%, before sales charges, for the twelve-month period ended October 31, 2022, underperforming the Fund’s benchmark, the Russell 2000 Growth Index, which returned -26.02% for the same period. For the same period, the Class A shares of the Fund, before sales charges, underperformed the -26.50% average return of the Lipper Small-Cap Growth Funds peer group, a group of funds with investment strategies similar to those of the Fund.
Why did the Fund perform this way?
United States (U.S.) equities fell over the trailing twelve-month period ended October 31, 2022. Markets rallied early in the period on the back of robust equity inflows, strong corporate earnings, favorable economic data, and extremely accommodative financial conditions. However, the rapid spread of the Omicron variant of the coronavirus led to the largest increase in U.S. COVID-19 cases since the onset of the pandemic, prompting a flurry of new restrictions and event cancellations. Inflation continued to surge against a backdrop of severe supply and labor shortages, rising energy prices, and high demand for goods and services, heightening scrutiny of the U.S. Federal Reserve (Fed) amid anxiety about a potential monetary policy mistake.
Equity markets fell sharply in the second quarter of 2022, as rampant inflation and tighter financial conditions negatively affected risk sentiment and increased the probability of recession. Rapidly rising prices for food and energy pushed consumer inflation to its highest level in more than four decades. Growth equities significantly underperformed their value counterparts as surging Treasury yields and disappointing earnings results from some of the largest technology companies drove the Nasdaq Composite Index to its biggest quarterly loss since September 2001. Equity market weakness persisted, as risk sentiment deteriorated on fears that aggressive interest-rate increases and tighter financial conditions would constrict economic growth and drive the U.S. to recession. Despite these concerns, Fed Chair Jerome Powell made clear that the central bank is committed to raising interest rates and keeping them elevated for longer until there is clear evidence that price pressures are abating.
Returns varied by market cap during the period, as large-cap equities, as measured by the S&P 500 Index, outperformed small-cap equities and underperformed mid-cap equities, as measured by the Russell 2000 Index and S&P MidCap 400 Index, respectively. Small-cap equities underperformed mid-cap equities for the period, as measured by the Russell 2000 Index and S&P MidCap 400 Index, respectively.
Ten out of eleven sectors in the Russell 2000 Growth Index had negative returns during the period. The Communication Services (-41%), Real Estate (-37%), and Information Technology (-33%) sectors lagged the broader index, while the Energy (+34%) sector had positive returns.
Sector allocation, a result of the bottom-up stock selection process, was the primary driver of relative underperformance during the period. This was driven by the Fund’s underweight allocation to the Energy sector and overweight allocations to the Real Estate and Information Technology sectors. The Fund’s overweight allocation to the Industrials sector and an underweight to the Healthcare sector detracted from relative performance during the period. Security selection also weighed on relative results. Weak selection within the Information Technology, Consumer Staples, and Consumer Discretionary sectors detracted from relative performance. This was partially offset by stronger selection in the Industrials and Real Estate sectors, which contributed positively to relative performance during the period.
The top contributors to relative performance during the period were overweight positions in WillScot Mobile Mini Holdings (Industrials), ExlService Holdings (Information Technology), and Chart Industries (Industrials). Shares of WillScot Mobile Mini, a modular space and storage solutions company, rose during the period after it was announced they acquired the rental fleet and assets of Modulease. This acquisition added roughly 400 mobile offices and 100 portable storage containers to the company's New England operation. WillScot Mobile also beat second-quarter revenue expectations, driven by strong demand and the implementation of increased rental rates. Shares of ExlService, an operations management and analytics company, rose during the period. The company reported first-quarter earnings and revenue which beat consensus expectations. Revenue increased across segments on a year-over-year basis, in particular
 

31


The Hartford Small Cap Growth Fund
 Fund Overview – (continued)
 October 31, 2022 (Unaudited) 

within the analytics segment. Shares of Chart Industries rose over the period. The company reported second-quarter results showing record orders, record backlog, record sales, and record operating income. Top absolute contributors for the period included Chart Industries (Industrials), Turning Point Therapeutics (Healthcare), and ExlService Holdings (Information Technology).
The top detractors from relative performance during the period included overweight positions in Cardlytics (Communication Services) and Hydrofarm Holdings (Industrials), and an out-of-benchmark position in Yeti Holdings (Consumer Discretionary). Shares of Cardlytics, an advertising platform partnering with financial institutions' banking reward programs, fell after the company reported earnings for the second quarter that were below consensus expectations, with operating losses that were significantly higher than a year ago. The company has faced challenges from a sharp slowdown in digital advertising demand, driven by weakening consumer spending amid the current macroeconomic backdrop. We eliminated the Fund’s position during the period. Shares of Hydrofarm fell during the period after the company announced weaker guidance for the rest of 2022. Company management attributed this decision to the challenges the overall hydroponics space continues to face, and stated that they expect the industry to grow in the future. We eliminated the Fund’s position during the period. Shares of Yeti Holdings declined after the company reported second-quarter earnings that missed estimates and lowered full-year 2022 guidance. Sales were below expectations due to slower customer acquisition and digital traffic including Amazon Marketplace. Gross margins and operating expenses were impacted by logistics and distribution cost inflation and a market shift towards wholesale, specifically coolers and equipment. Top absolute detractors from performance for the period included Cardlytics (Communication Services), Rapid7 (Information Technology), and Omnicell (Healthcare).
Derivatives were not used in the Fund during the period.
What is the outlook as of the end of the period?
The U.S. Consumer Price Index (CPI) remained elevated in its report for August 2022, albeit slightly declining from the loftier levels of July 2022. As of the end of the period, we believe some respite is possible in the near term, given the decline in oil prices. The Federal Open Market Committee (FOMC) members’ median rate expectations for 2023 have gone above 4.5% from 3.75% just three months ago. With the increase in expectations for near-term interest-rate increases, the continuing strength in the U.S. dollar is likely not a surprise, but nevertheless, its strength has become an increasing focus for companies and investors. Recent commentary from companies has indicated pockets of slowing demand, and low nominal growth in 2023 remains probable, given peaking inflation and tight policy.
The energy crisis Europe is facing this upcoming winter highlights the dilemma policymakers are facing between supporting low-income consumers and securing longer-term energy security for the continent. Over the last few months, it has become increasingly clear that Russia intends to keep the pressure on Europe, and we believe the conflict
with Ukraine is likely to continue into 2024 at a minimum. The road forward regarding the conflict remains unpredictable, and the range of outcomes is wide in terms of the impact to the global economy, in our view.
On the positive side, we observe that supply-chain issues appear to be improving, although not completely resolved. Employment in the U.S. remains robust for now, but we believe there may be potential weakness ahead as the Fed continues to battle inflation. The Inflation Reduction Act (IRA), the Infrastructure Investment and Jobs Act (IIJA), and the CHIPS Act will likely serve as offsets, in our view. Margin pressure remains a focus and is somewhat unpredictable in the near term due to the variety of factors companies are facing.
At the end of the period, the Fund’s largest overweights were to the Industrials, Consumer Staples, and Consumer Discretionary sectors, while the Fund’s largest underweights were to the Utilities, Financials, and Energy sectors, relative to the Russell 2000 Growth Index.
Important Risks
Investing involves risk, including the possible loss of principal. Security prices fluctuate in value depending on general market and economic conditions and the prospects of individual companies. • Small-cap securities can have greater risks, including liquidity risk, and volatility than large-cap securities. • Different investment styles may go in and out of favor, which may cause the Fund to underperform the broader stock market. • To the extent the Fund focuses on one or more sectors, the Fund may be subject to increased volatility and risk of loss if adverse developments occur.
Composition by Sector(1)
as of 10/31/2022
Sector Percentage
of Net Assets
Equity Securities  
Communication Services 1.4%
Consumer Discretionary 11.2
Consumer Staples 5.5
Energy 6.4
Financials 6.2
Health Care 22.5
Industrials 20.5
Information Technology 19.5
Materials 3.7
Real Estate 2.2
Total 99.1%
Short-Term Investments 1.4
Other Assets & Liabilities (0.5)
Total 100.0%
    
(1) A sector may be comprised of several industries. For Fund compliance purposes, the Fund may not use the same classification system. These sector classifications are used for financial reporting purposes.

32


Hartford Small Cap Value Fund
 Fund Overview
 October 31, 2022 (Unaudited) 

Inception 01/01/2005
Sub-advised by Wellington Management Company LLP
Investment objective – The Fund seeks long-term capital appreciation.
Comparison of Change in Value of $10,000 Investment (10/31/2012 - 10/31/2022)
The chart above represents the hypothetical growth of a $10,000 investment in Class A, which includes the maximum sales charge applicable to Class A shares. Returns for the Fund’s other classes will vary from what is seen above due to differences in the expenses charged to those share classes.
Average Annual Total Returns
for the Periods Ended 10/31/2022
  1 Year 5 Years 10 Years
Class A1 -8.86% 5.76% 8.87%
Class A2 -13.87% 4.57% 8.25%
Class C1 -9.54% 4.98% 8.06%
Class C3 -10.38% 4.98% 8.06%
Class I1 -8.56% 6.12% 9.14%
Class R31 -9.05% 5.61% 8.67%
Class R41 -8.79% 5.86% 8.96%
Class R51 -8.48% 6.19% 9.29%
Class R61 -8.46% 6.26% 9.35%
Class Y1 -8.52% 6.22% 9.33%
Class F1 -8.46% 6.25% 9.22%
Russell 2000 Value Index -10.73% 5.31% 9.37%
    
1 Without sales charge
2 Reflects maximum sales charge of 5.50%
3 Reflects a contingent deferred sales charge of 1.00%
PERFORMANCE DATA QUOTED REPRESENTS PAST PERFORMANCE AND DOES NOT GUARANTEE FUTURE RESULTS. The investment return and principal value of the investment will fluctuate so that investors’ shares, when redeemed, may be worth more or less than their original cost. The chart and table do not reflect the deductions of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares. Current performance may be lower or higher than the performance data quoted. To obtain performance data current to the most recent month-end, please visit our website hartfordfunds.com.
Total returns presented above were calculated using the applicable class' net asset value available to shareholders for sale or redemption of Fund shares on 10/31/2022, which may exclude investment transactions as of this date. All share class returns assume the reinvestment of all distributions at net asset value and the deduction of all fund expenses. The total returns presented in the Financial Highlights section of the report are calculated in the same manner, but also take into account certain
adjustments that are necessary under generally accepted accounting principles. As a result, the total returns in the Financial Highlights section may differ from the total returns presented above.
Class I shares commenced operations on 03/31/2015 and performance prior to that date is that of the Fund’s Class A shares (excluding sales charges). Class R6 shares commenced operations on 02/28/2018 and performance prior to that date is that of the Fund’s Class Y shares. Class F shares commenced operations on 02/28/2017. Performance for Class F shares prior to 02/28/2017 reflects the performance of Class I shares from 03/31/2015 through 02/27/2017 and Class A shares (excluding sales charges) prior to 03/31/2015. Performance prior to an inception date of a class has not been adjusted to reflect the operating expenses of such class.
Performance prior to 11/01/2018 reflects when the Fund pursued different strategies.
You cannot invest directly in an index.
See “Benchmark Glossary” for benchmark descriptions.
Performance information may reflect expense waivers/reimbursements without which performance would have been lower. For information on current expense waivers/reimbursements, please see the prospectus.
 

33


Hartford Small Cap Value Fund
 Fund Overview – (continued)
 October 31, 2022 (Unaudited) 

Operating Expenses* Gross Net
Class A 1.30% 1.30%
Class C 2.09% 2.05%
Class I 0.97% 0.97%
Class R3 1.56% 1.50%
Class R4 1.26% 1.20%
Class R5 0.96% 0.90%
Class R6 0.85% 0.80%
Class Y 0.95% 0.85%
Class F 0.84% 0.80%
    
* Expenses as shown in the Fund’s most recent prospectus. Gross expenses do not reflect contractual expense reimbursement arrangements. Net expenses reflect such arrangements in instances when they reduce gross expenses. These arrangements remain in effect until 02/28/2023 unless the Fund’s Board of Directors approves an earlier termination. Actual expenses may be higher or lower. Please see accompanying Financial Highlights for expense ratios for the period ended 10/31/2022.

 
Portfolio Manager
Sean Kammann
Managing Director and Equity Portfolio Manager
Wellington Management Company LLP


Manager Discussion
How did the Fund perform during the period?
The Class A shares of the Hartford Small Cap Value Fund returned -8.86%, before sales charges, for the twelve-month period ended October 31, 2022, outperforming the Fund’s benchmark, the Russell 2000 Value Index, which returned -10.73% for the same period. For the same period, the Class A shares of the Fund, before sales charges, outperformed the -11.64% average return of the Lipper Small-Cap Value Funds peer group, a group of funds with investment strategies similar to those of the Fund.
Why did the Fund perform this way?
United States (U.S.) equities fell over the trailing twelve-month period ended October 31, 2022. Markets rallied early in the period on the back of robust equity inflows, strong corporate earnings, favorable economic data, and extremely accommodative financial conditions. However, the rapid spread of the Omicron variant of the coronavirus led to the largest increase in U.S. COVID-19 cases since the onset of the pandemic, prompting a flurry of new restrictions and event cancellations. Inflation continued to surge against a backdrop of severe supply and labor shortages, rising energy prices, and high demand for goods and services, heightening scrutiny of the U.S. Federal Reserve (Fed) amid anxiety about a potential monetary policy mistake. Equity markets fell sharply in the second quarter of 2022, as rampant inflation and tighter financial conditions negatively affected risk sentiment and increased the probability of recession. Rapidly rising prices for food and energy pushed consumer inflation to its highest level in more than four decades. Growth equities significantly underperformed their value counterparts as surging Treasury yields and disappointing earnings results from some of the largest technology companies drove the Nasdaq Composite Index to
its biggest quarterly loss since September 2001. Equity market weakness persisted, as risk sentiment deteriorated on fears that aggressive interest-rate increases and tighter financial conditions would constrict economic growth and drive the U.S. to recession. Despite these concerns, Fed Chair Jerome Powell made clear that the central bank is committed to raising interest rates and keeping them elevated for longer until there is clear evidence that price pressures are abating.
During the period, returns varied by market cap. Large-cap equities, as measured by the S&P 500 Index, underperformed mid- and small-cap equities, as measured by the S&P MidCap 400 Index and Russell 2000 Index, respectively. Small-cap equities underperformed mid-cap equities for the period, as measured by the Russell 2000 Index and S&P MidCap 400 Index, respectively.
Eight of the eleven sectors in the Russell 2000 Value Index declined during the period, and the Communication Services (-41%), Healthcare (-27%), and Consumer Discretionary (-26%) sectors lagged. Conversely, the Energy (+46%), Consumer Staples (+6%), and Utilities (+3%) sectors were the top performers during the period.
Security selection drove the Fund’s outperformance relative to the Russell 2000 Value Index during the period. Strong selection in the Consumer Discretionary, Information Technology, and Healthcare sectors contributed positively to relative results. This was partially offset by weaker selection in the Financials, Energy, and Consumer Staples sectors. Sector allocation, a result of our bottom-up stock selection process, also benefited relative performance. The Fund’s underweight positions in the Communication Services and Healthcare sectors contributed positively to relative performance. This was partially offset by the Fund’s underweight position in the Energy sector and overweight to the Information Technology sector during the period.
 

34


Hartford Small Cap Value Fund
 Fund Overview – (continued)
 October 31, 2022 (Unaudited) 

The largest contributors to relative performance over the period were positions in H&R Block (Consumer Discretionary), Plantronics (Information Technology), and South Jersey Industries (Utilities). Tax preparation company H&R Block delivered strong operational results given the continued strong growth of its assisted return business. H&R Block also saw an expansion of its small-business clientele, increased adoption of its virtual tools, as well as the launch of its new mobile banking platform against a challenging macroeconomic backdrop, supporting its stock price. Plantronics is a U.S.-based headset manufacturer. Plantronics’ shares jumped after the company announced a deal in March 2022 where it would be acquired by HP. The acquisition was completed in August 2022. Shares of South Jersey Industries soared after Infrastructure Investments Fund announced the acquisition of the energy services holding company for $36 per share in cash, reflecting an enterprise value of approximately $8.1 billion. We eliminated the Fund’s positions in all three stocks during the period.
The largest detractors from relative performance during the period were positions in PROG Holdings (Financials), Greenhill (Financials), and DMC Global (Energy). PROG Holdings shares declined during the period, as the lease-to-own and financing company reported disappointing results and cut its full-year outlook, given weakened demand and increased delinquencies as inflation continued to impose significant pressure on its customers. Shares of Greenhill also ended the period lower after the company reported a continued decline in revenue and earnings as deal activities slowed against rising rates. Shares of DMC Global, a holding company with segments in explosive metalworking and perforation, declined during the period despite the company reporting strong first- and second-quarter results. Management provided lackluster guidance for the third quarter due to high inventory costs for Arcadia and anticipated lower NobelClad revenue.
Derivatives were not used in the Fund during the period.
What is the outlook as of the end of the period?
As of the end of the period, we believe we are unquestionably on the precipice of an economically challenging period globally, and the structural advantages of the U.S. may be overwhelmed by the strong U.S. dollar. But this is temporary, in our view, and we believe these economic adjustments present investment opportunities for the Fund. We continue to focus our efforts on seeking the most attractive long-term excess return opportunities while seeking to balance these opportunities against the associated risks.
At the end of the period, the Fund was most overweight to the Financials, Industrials, and Information Technology sectors, and most underweight to the Real Estate, Healthcare, and Utilities sectors, relative to the Russell 2000 Value Index.
Important Risks
Investing involves risk, including the possible loss of principal. Security prices fluctuate in value depending on general market and economic conditions and the prospects of individual companies. • Small-cap securities can have greater risks, including liquidity risk, and volatility than large-cap securities. • Different investment styles may go in and out of favor, which may cause the Fund to underperform the broader
stock market. • To the extent the Fund focuses on one or more sectors, the Fund may be subject to increased volatility and risk of loss if adverse developments occur. • Foreign investments may be more volatile and less liquid than U.S. investments and are subject to the risk of currency fluctuations and adverse political, economic and regulatory developments.
Composition by Sector(1)
as of 10/31/2022
Sector Percentage
of Net Assets
Equity Securities  
Communication Services 1.1%
Consumer Discretionary 12.0
Consumer Staples 4.6
Energy 4.5
Financials 36.4
Health Care 6.4
Industrials 17.8
Information Technology 8.5
Materials 3.3
Real Estate 2.8
Utilities 1.6
Total 99.0%
Short-Term Investments 1.0
Other Assets & Liabilities 0.0 *
Total 100.0%
    
* Percentage rounds to zero.
(1) A sector may be comprised of several industries. For Fund compliance purposes, the Fund may not use the same classification system. These sector classifications are used for financial reporting purposes.

35


The Hartford Small Company Fund
 Fund Overview
 October 31, 2022 (Unaudited) 

Inception 07/22/1996
Sub-advised by Wellington Management Company LLP
Investment objective – The Fund seeks growth of capital.
Comparison of Change in Value of $10,000 Investment (10/31/2012 - 10/31/2022)
The chart above represents the hypothetical growth of a $10,000 investment in Class A, which includes the maximum sales charge applicable to Class A shares. Returns for the Fund’s other classes will vary from what is seen above due to differences in the expenses charged to those share classes.
Average Annual Total Returns
for the Periods Ended 10/31/2022
  1 Year 5 Years 10 Years
Class A1 -30.24% 8.60% 10.24%
Class A2 -34.08% 7.38% 9.62%
Class C1 -30.76% 7.74% 9.41%
Class C3 -31.18% 7.74% 9.41%
Class I1 -30.01% 8.92% 10.54%
Class R31 -30.43% 8.32% 9.99%
Class R41 -30.25% 8.64% 10.32%
Class R51 -30.01% 8.97% 10.66%
Class R61 -29.95% 9.05% 10.75%
Class Y1 -30.05% 8.99% 10.71%
Class F1 -29.93% 9.05% 10.62%
Russell 2000 Growth Index -26.02% 5.17% 10.15%
    
1 Without sales charge
2 Reflects maximum sales charge of 5.50%
3 Reflects a contingent deferred sales charge of 1.00%
PERFORMANCE DATA QUOTED REPRESENTS PAST PERFORMANCE AND DOES NOT GUARANTEE FUTURE RESULTS. The investment return and principal value of the investment will fluctuate so that investors’ shares, when redeemed, may be worth more or less than their original cost. The chart and table do not reflect the deductions of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares. Current performance may be lower or higher than the performance data quoted. To obtain performance data current to the most recent month-end, please visit our website hartfordfunds.com.
Total returns presented above were calculated using the applicable class' net asset value available to shareholders for sale or redemption of Fund shares on 10/31/2022, which may exclude investment transactions as of this date. All share class returns assume the reinvestment of all distributions at net asset value and the deduction of all
fund expenses. The total returns presented in the Financial Highlights section of the report are calculated in the same manner, but also take into account certain adjustments that are necessary under generally accepted accounting principles. As a result, the total returns in the Financial Highlights section may differ from the total returns presented above.
Class R6 shares commenced operations on 11/07/2014 and performance prior to that date is that of the Fund’s Class Y shares. Class F shares commenced operations on 02/28/2017 and performance prior to that date is that of the Fund’s Class I shares. Performance prior to an inception date of a class has not been adjusted to reflect the operating expenses of such class.
You cannot invest directly in an index.
See “Benchmark Glossary” for benchmark descriptions.
Performance information may reflect expense waivers/reimbursements without which performance would have been lower.
Operating Expenses* Gross Net
Class A 1.23% 1.23%
Class C 2.05% 2.05%
Class I 0.96% 0.96%
Class R3 1.57% 1.57%
Class R4 1.26% 1.26%
Class R5 0.97% 0.97%
Class R6 0.85% 0.85%
Class Y 0.91% 0.91%
Class F 0.85% 0.85%
    
* Expenses as shown in the Fund’s most recent prospectus. Actual expenses may be higher or lower. Please see accompanying Financial Highlights for expense ratios for the period ended 10/31/2022.
 

36


The Hartford Small Company Fund
 Fund Overview – (continued)
 October 31, 2022 (Unaudited) 


 
Portfolio Managers
Steven C. Angeli, CFA*
Senior Managing Director and Equity Portfolio Manager
Wellington Management Company LLP
Ranjit Ramachandran
Managing Director and Equity Portfolio Manager
Wellington Management Company LLP
John V. Schneider, CFA
Managing Director and Equity Research Analyst
Wellington Management Company LLP
* Effective February 28, 2023, Mr. Angeli will no longer serve as a portfolio manager to the Fund. Mr. Angeli will transition his portfolio management responsibilities for the Fund to Mr. Ramachandran.


Manager Discussion
How did the Fund perform during the period?
The Class A shares of The Hartford Small Company Fund returned -30.24%, before sales charges, for the twelve-month period ended October 31, 2022, underperforming the Fund’s benchmark, the Russell 2000 Growth Index, which returned -26.02% for the same period. For the same period, the Class A shares of the Fund, before sales charges, underperformed the -26.50% average return of the Lipper Small-Cap Growth Funds peer group, a group of funds with investment strategies similar to those of the Fund.
Why did the Fund perform this way?
United States (U.S.) equities fell over the trailing twelve-month period ended October 31, 2022. Markets rallied early in the period on the back of robust equity inflows, strong corporate earnings, favorable economic data, and extremely accommodative financial conditions. However, the rapid spread of the Omicron variant of the coronavirus led to the largest increase in U.S. COVID-19 cases since the onset of the pandemic, prompting a flurry of new restrictions and event cancellations. Inflation continued to surge against a backdrop of severe supply and labor shortages, rising energy prices, and high demand for goods and services, heightening scrutiny of the U.S. Federal Reserve (Fed) amid anxiety about a potential monetary policy mistake.
Equity markets fell sharply in the second quarter of 2022, as rampant inflation and tighter financial conditions negatively affected risk sentiment and increased the probability of recession. Rapidly rising prices for food and energy pushed consumer inflation to its highest level in more than four decades. Growth equities significantly underperformed their value counterparts as surging Treasury yields and disappointing earnings results from some of the largest technology companies drove the Nasdaq Composite Index to its biggest quarterly loss since September 2001. Equity market weakness persisted, as risk sentiment deteriorated on fears that aggressive interest-rate increases and tighter financial conditions would constrict economic growth and drive the U.S. to recession. Despite these
concerns, Fed Chair Jerome Powell made clear that the central bank is committed to raising interest rates and keeping them elevated for longer until there is clear evidence that price pressures are abating.
Returns varied by market capitalization during the period. Large cap equities, as measured by the Russell 1000 Index, outperformed small-cap equities, as measured by the Russell 2000 Index, and mid-cap equities, as measured by the Russell Midcap Index. Small-cap equities underperformed mid-cap equities for the period, as measured by the Russell 2000 Index and Russell Midcap Index, respectively. Narrowing the focus to small caps, value led growth by over +1500 basis points (bps) over the trailing year, as measured by the Russell 2000 Value and Growth Indices.
Ten of the eleven sectors in the Russell 2000 Growth Index had negative returns during the period. The Energy (+34%) sector was the lone positive sector over the period, while the Communication Services (-41%), Real Estate (-38%), and Information Technology (-33%) sectors lagged the broader index.
During the period, security selection was the primary driver of the Fund’s underperformance relative to the Russell 2000 Growth Index. Selection in the Information Technology, Healthcare, and Consumer Discretionary sectors detracted from relative performance, partially offset by stronger selection in the Real Estate, Industrials, and Materials sectors. Sector allocation, a result of our bottom-up stock selection process, also detracted from relative performance, primarily driven by the Fund’s overweight allocation to the Real Estate sector and underweight to the Consumer Staples sector. This was partially offset by the Fund’s underweight allocation to the Consumer Discretionary sector.
The top detractors from relative performance during the period included Digital Turbine (Information Technology), Owens & Minor (Healthcare), and Kornit Digital (Industrials). Shares of Digital Turbine, an advertising software platform, fell over the period in an environment of rising interest rates. The share price fell in February 2022 after competitive and regulatory pressures aimed to protect users’ personal information weighed on the digital advertising market. Additionally, in
 

37


The Hartford Small Company Fund
 Fund Overview – (continued)
 October 31, 2022 (Unaudited) 

May 2022, the company lowered guidance, citing macroeconomic challenges facing the business. Due to high uncertainty surrounding the digital advertising market, we decided to eliminate the Fund’s position during the period. Shares of Owens & Minor, a Healthcare logistics company, fell during the period as the company reported disappointing preliminary third-quarter 2022 results and lowered its full-year guidance. The Products & Healthcare Services segment detracted from relative performance driven by macroeconomic challenges, decreased hospital volumes and high stocking levels. Shares of Kornit Digital, an inkjet printer manufacturer for the textile and fashion industries, traded down in the period after missing second-quarter 2022 revenue expectations. The current economic environment led to a significantly slower pace of orders than the company originally projected. The company expressed optimism about the second half of 2022; however, we chose to eliminate the Fund’s position during the period over fears that economic recovery would not materialize. Top absolute detractors from the Fund’s performance for the period included Digital Turbine (Information Technology) and Rapid7 (Information Technology).
By contrast, some of the top contributors to relative performance included Tower Semiconductor (Information Technology), Chesapeake Energy (Energy), and Applied Industrial Technologies (Industrials). The share price of Tower Semiconductor, an independent foundry and producer of semiconductor integrated circuits, rose in February 2022 after Intel offered to acquire the company at a large premium. Shortly after the announcement, Tower Semiconductor announced strong quarterly results and adjusted earnings per share (EPS) ahead of consensus. Chesapeake Energy, a producer of oil and natural gas, experienced a share price increase during the period due to higher energy prices as well as an increased stock repurchase program announced in June 2022. The Fund realized gains by selling both positions during the period. Applied Industrial Technologies is a power transmission products and services company. The company’s share price rose as management announced fundamental strength through the period and raised their 2023 EPS guidance. Top absolute contributors to the Fund’s performance for the period included e.l.f. Beauty (Consumer Staples) and Calix (Information Technology).
Derivatives were not used in the Fund during the period.
What is the outlook as of the end of the period?
The twelve-month period ended October 31, 2022 was categorized by heightened market volatility spurred on by a steady stream of macroeconomic challenges ranging from record inflation and persistent supply-chain challenges to Russia’s invasion of Ukraine. U.S. markets ended the period lower as investors braced for a recession; however, the timing and magnitude of this recession is still unknown, in our view, as market participants weigh the impacts of persistent inflation, recession, and the Fed’s reaction to these events. As a result, stocks in the Fund’s investment universe have been prone to trading on narrative recently, rather than fundamentals. Given this uncertainty, we remain disciplined within our upside/downside valuation framework, and are seeking to position the Fund to be balanced.
In this macro- and factor-driven environment, we are seeking balance by holding a mixture of high-quality capital compounders while looking for opportunities in emerging growth names with disruptive business models. While we are not aiming to create a recession-proof portfolio, we continue to anticipate weakness in sectors with high interest-rate sensitivity. As a result, we decided to eliminate a number of software names during the period that we believe lack the cash flows to remain resilient in an economic slowdown. Finally, as of the end of the period, we added to stocks that have sold off and fallen back into the small-cap universe during the period.
At the end of the period, the Fund’s largest overweights were to the Industrials, Healthcare, and Energy sectors, while the Fund’s largest underweights were to the Information Technology, Utilities, and Financials sectors, relative to the Russell 2000 Growth Index.
Important Risks
Investing involves risk, including the possible loss of principal. Security prices fluctuate in value depending on general market and economic conditions and the prospects of individual companies. • Small-cap securities can have greater risks, including liquidity risk, and volatility than large-cap securities. • Integration of environmental, social, and/or governance (ESG) characteristics into the investment process may not work as intended. • Different investment styles may go in and out of favor, which may cause the Fund to underperform the broader stock market. • Foreign investments may be more volatile and less liquid than U.S. investments and are subject to the risk of currency fluctuations and adverse political, economic and regulatory developments. • To the extent the Fund focuses on one or more sectors, the Fund may be subject to increased volatility and risk of loss if adverse developments occur. • The Fund may have high portfolio turnover, which could increase its transaction costs and an investor’s tax liability.
Composition by Sector(1)
as of 10/31/2022
Sector Percentage
of Net Assets
Equity Securities  
Communication Services 2.4%
Consumer Discretionary 8.5
Consumer Staples 3.8
Energy 8.6
Financials 6.7
Health Care 23.8
Industrials 19.8
Information Technology 16.2
Materials 3.9
Real Estate 2.6
Total 96.3%
Short-Term Investments 3.3
Other Assets & Liabilities 0.4
Total 100.0%
    
(1) A sector may be comprised of several industries. For Fund compliance purposes, the Fund may not use the same classification system. These sector classifications are used for financial reporting purposes.
  

38


Hartford Domestic Equity Funds
Benchmark Glossary (Unaudited)

Russell 1000 Growth Index (reflects no deduction for fees, expenses or taxes) is designed to measure the performance of those Russell 1000 Index companies with higher price-to-book ratios and higher forecasted growth values. The Russell 1000 Index is designed to measure the performance of the 1,000 largest companies in the Russell 3000 Index based on their market capitalization and current index membership.
Russell 1000 Value Index (reflects no deduction for fees, expenses or taxes) is designed to measure the performance of those Russell 1000 Index companies with lower price-to-book ratios and lower forecasted growth values. The Russell 1000 Index is designed to measure the performance of the 1,000 largest companies in the Russell 3000 Index based on their market capitalization and current index membership.
Russell 2000 Growth Index (reflects no deduction for fees, expenses or taxes) is designed to measure the performance of those Russell 2000 Index companies with higher price-to-book ratios and higher forecasted growth values. The Russell 2000 Index is an index comprised of 2,000 of the smallest US-domiciled company common stocks based on a combination of their market capitalization and current index membership.
Russell 2000 Value Index (reflects no deduction for fees, expenses or taxes) is designed to measure the performance of those Russell 2000 Index companies with lower price-to-book ratios and lower forecasted growth values. The Russell 2000 Index is an index comprised of 2,000 of the smallest US-domiciled company common stocks based on a combination of their market capitalization and current index membership.
Russell 3000 Growth Index (reflects no deduction for fees, expenses or taxes) is designed to measure the performance of those Russell 3000 Index companies with higher price-to-book ratios and higher forecasted growth values. The Russell 3000 Index is designed to measure the performance of the 3,000 largest US companies based on their market capitalization.
Russell 3000 Index (reflects no deduction for fees, expenses or taxes) is designed to measure the performance of the 3,000 largest US companies based on total market capitalization.
Russell Midcap Value Index (reflects no deduction for fees, expenses or taxes) is designed to measure the performance of the mid-cap value segment of the US equity universe. It includes those Russell Midcap Index companies with lower price-to-book ratios and lower forecasted growth values.
S&P 500 Index (reflects no deduction for fees, expenses or taxes) is a float-adjusted market capitalization-weighted price index composed of 500 widely held common stocks.
S&P Composite 1500 Health Care Index (reflects no deduction for fees, expenses or taxes) is a float-adjusted market capitalization-weighted index comprised of those companies included in the S&P Composite 1500 that are classified as members of the Global Industry Classification Standard (GICS®) health care sector.
S&P MidCap 400 Index (reflects no deduction for fees, expenses or taxes) is a float-adjusted market capitalization-weighted index designed to measure the performance of the mid-cap segment of the market. The index is composed of 400 constituent companies.
 

39


Hartford Domestic Equity Funds
Expense Examples (Unaudited)

Your Fund's Expenses
As a shareholder of a Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments, if any, and contingent deferred sales charges (CDSC), if any, and (2) ongoing costs, including investment management fees, distribution and/or service (12b-1) fees, if any, and other fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in a Fund and to compare these costs with the ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period of May 1, 2022 through October 31, 2022, except as noted below. To the extent a Fund was subject to acquired fund fees and expenses during the period, acquired fund fees and expenses are not included in the annualized expense ratios below.
Actual Expenses
The first set of columns of the table below provides information about actual account values and actual expenses. You may use this information, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the line under the heading entitled “Expenses Paid During The Period” to estimate the expenses you paid on your account during this period.
Hypothetical Example for Comparison Purposes
The second set of columns of the table below provides information about hypothetical account values and hypothetical expenses based on a Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Fund’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in a Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.
Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads and CDSC). Therefore, the second set of columns of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would be higher. Expenses for a class of a Fund are equal to the class' annualized expense ratio multiplied by average account value over the period, multiplied by 184/365 (to reflect the one-half year period).
  Actual Return   Hypothetical (5% return before expenses)
  Beginning
Account Value
May 1, 2022
  Ending
Account Value
October 31, 2022
  Expenses paid
during the period
May 1, 2022
through
October 31, 2022
  Beginning
Account Value
May 1, 2022
  Ending
Account Value
October 31, 2022
  Expenses paid
during the period
May 1, 2022
through
October 31, 2022
  Annualized
expense
ratio
The Hartford Capital Appreciation Fund
Class A $ 1,000.00   $  937.30   $  5.13   $ 1,000.00   $ 1,019.91   $  5.35   1.05%
Class C $ 1,000.00   $  933.70   $  8.92   $ 1,000.00   $ 1,015.98   $  9.30   1.83%
Class I $ 1,000.00   $  938.60   $  3.81   $ 1,000.00   $ 1,021.27   $  3.97   0.78%
Class R3 $ 1,000.00   $  935.50   $  6.88   $ 1,000.00   $ 1,018.10   $  7.17   1.41%
Class R4 $ 1,000.00   $  937.10   $  5.37   $ 1,000.00   $ 1,019.66   $  5.60   1.10%
Class R5 $ 1,000.00   $  938.50   $  3.86   $ 1,000.00   $ 1,021.22   $  4.02   0.79%
Class R6 $ 1,000.00   $  939.00   $  3.42   $ 1,000.00   $ 1,021.68   $  3.57   0.70%
Class Y $ 1,000.00   $  938.50   $  3.91   $ 1,000.00   $ 1,021.17   $  4.08   0.80%
Class F $ 1,000.00   $  939.10   $  3.37   $ 1,000.00   $ 1,021.68   $  3.52   0.69%
Hartford Core Equity Fund
Class A $ 1,000.00   $  954.40   $  3.50   $ 1,000.00   $ 1,021.63   $  3.62   0.71%
Class C $ 1,000.00   $  950.70   $  7.13   $ 1,000.00   $ 1,017.90   $  7.38   1.45%
Class I $ 1,000.00   $  955.50   $  2.27   $ 1,000.00   $ 1,022.89   $  2.35   0.46%
Class R3 $ 1,000.00   $  952.50   $  5.36   $ 1,000.00   $ 1,019.71   $  5.55   1.09%
Class R4 $ 1,000.00   $  954.30   $  3.55   $ 1,000.00   $ 1,021.58   $  3.67   0.72%
Class R5 $ 1,000.00   $  955.60   $  2.27   $ 1,000.00   $ 1,022.89   $  2.35   0.46%
Class R6 $ 1,000.00   $  956.00   $  1.77   $ 1,000.00   $ 1,023.39   $  1.84   0.36%
Class Y $ 1,000.00   $  955.80   $  2.17   $ 1,000.00   $ 1,022.99   $  2.24   0.44%
Class F $ 1,000.00   $  956.00   $  1.77   $ 1,000.00   $ 1,023.39   $  1.84   0.36%

40


Hartford Domestic Equity Funds
Expense Examples (Unaudited) – (continued)

  Actual Return   Hypothetical (5% return before expenses)
  Beginning
Account Value
May 1, 2022
  Ending
Account Value
October 31, 2022
  Expenses paid
during the period
May 1, 2022
through
October 31, 2022
  Beginning
Account Value
May 1, 2022
  Ending
Account Value
October 31, 2022
  Expenses paid
during the period
May 1, 2022
through
October 31, 2022
  Annualized
expense
ratio
The Hartford Dividend and Growth Fund
Class A $ 1,000.00   $  958.80   $  4.79   $ 1,000.00   $ 1,020.32   $  4.94   0.97%
Class C $ 1,000.00   $  954.80   $  8.62   $ 1,000.00   $ 1,016.38   $  8.89   1.75%
Class I $ 1,000.00   $  960.20   $  3.61   $ 1,000.00   $ 1,021.53   $  3.72   0.73%
Class R3 $ 1,000.00   $  956.80   $  6.71   $ 1,000.00   $ 1,018.35   $  6.92   1.36%
Class R4 $ 1,000.00   $  958.50   $  5.18   $ 1,000.00   $ 1,019.91   $  5.35   1.05%
Class R5 $ 1,000.00   $  959.90   $  3.66   $ 1,000.00   $ 1,021.48   $  3.77   0.74%
Class R6 $ 1,000.00   $  960.50   $  3.11   $ 1,000.00   $ 1,022.03   $  3.21   0.63%
Class Y $ 1,000.00   $  960.20