N-CSR 1 d647714dncsr.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, 2023

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 20549-1090. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.


Item 1. Reports to Stockholders.

(a)


Hartford Domestic
Equity Funds
Annual Report
October 31, 2023
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
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, 2022 through October 31, 2023.
Market Review
During the 12 months ended October 31, 2023, U.S. stocks, as measured by the S&P 500 Index,1 gained 10.14%. While the results were positive for the period, it was nonetheless a turbulent ride for investors as brief surges of optimism were repeatedly challenged by episodes of extreme volatility and uncertainty over the direction of inflation, interest rates, economic growth, and Federal Reserve (Fed) policy—as well as a brief but troubling banking crisis and a late-period rise in U.S. Treasury yields.
At the start of the period, most major equity indices were rising in response to a succession of Consumer Price Index (CPI)2 reports showing that inflation, after peaking at 9.1% in June 2022, had tapered off to well below 6% by March 2023. The improved inflation outlook prompted the Federal Open Market Committee (FOMC) to reduce the size of its rate hikes from three-quarters of a percent to a half-percent increase in December 2022, followed by two consecutive quarter-percent hikes.
Nonetheless, most of Fed Chair Jerome Powell’s public statements provided a consistent message that interest rates would still need to stay “higher for longer” until inflation had been sufficiently vanquished—which for the Fed meant a target inflation rate of 2%. Investor sentiment remained volatile as equities soared in January 2023 but pulled back in February 2023.
A sudden March 2023 banking crisis involving the liquidation of Silicon Valley Bank and Signature Bank also shook market sentiment briefly. Sensing fragility in the financial sector, the Fed used its June 2023 meeting to pause its rate hikes for a month. Fortuitously, the CPI report issued during the same month showed annual inflation had dropped to 3%. At the period’s end, the rate had risen to 3.7%.
In May 2023, an unexpectedly positive forward-guidance report from chipmaker NVIDIA helped kick off a surprise stock rally, lifting the value of growth-oriented equities, particularly those linked to artificial-intelligence technology. The rally continued through July 2023 before finally cooling off amidst a sudden surge in U.S. Treasury yields. As of the end of the period, the yield on the bellwether 10-Year Treasury note had climbed to 4.88% amid signals from the Fed that resilience in the economy would likely force the Fed to delay interest rate cuts to 2024. Earlier predictions of imminent recession became more muted.
As 2024 approaches, the continuation of strong consumer demand and relatively low unemployment seems likely to create even greater uncertainty surrounding the Fed’s timetable for keeping interest rates elevated. With volatility likely to persist, even into the new year, 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. Indices are 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) 35
Expense Examples (Unaudited) 36
Financial Statements:  
Schedules of Investments:  
The Hartford Capital Appreciation Fund 39
Hartford Core Equity Fund 43
The Hartford Dividend and Growth Fund 45
The Hartford Equity Income Fund 47
The Hartford Growth Opportunities Fund 49
The Hartford Healthcare Fund 52
The Hartford MidCap Fund 54
The Hartford MidCap Value Fund 57
The Hartford Small Cap Growth Fund 59
Hartford Small Cap Value Fund 62
The Hartford Small Company Fund 64
Glossary 67
Statements of Assets and Liabilities 68
Statements of Operations 72
Statements of Changes in Net Assets 75
Financial Highlights 81
Notes to Financial Statements 95
Report of Independent Registered Public Accounting Firm 120
Operation of the Liquidity Risk Management Program (Unaudited)  121
Directors and Officers (Unaudited)  122
How to Obtain a Copy of each Fund’s Proxy Voting Policies and Voting Records (Unaudited)  125
Quarterly Portfolio Holdings Information (Unaudited) 125
Approval of Investment Management and Investment Sub-Advisory Agreements (Unaudited) 126
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, 2023 (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 (10/31/2013 - 10/31/2023)
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 10/31/2023
  1 Year 5 Years 10 Years
Class A1 4.79% 7.82% 7.91%
Class A2 -0.97% 6.61% 7.31%
Class C1 3.93% 6.98% 7.11%
Class C3 2.98% 6.98% 7.11%
Class I1 5.05% 8.11% 8.22%
Class R31 4.40% 7.43% 7.55%
Class R41 4.72% 7.77% 7.88%
Class R51 5.05% 8.09% 8.21%
Class R61 5.14% 8.20% 8.31%
Class Y1 5.03% 8.12% 8.27%
Class F1 5.13% 8.20% 8.29%
Russell 3000 Index 8.38% 10.23% 10.52%
S&P 500 Index 10.14% 11.01% 11.18%
    
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 10/31/2023, 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 1.83% 1.83%
Class I 0.77% 0.77%
Class R3 1.41% 1.41%
Class R4 1.10% 1.10%
Class R5 0.79% 0.79%
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 10/31/2023.
 

2


The Hartford Capital Appreciation Fund
 Fund Overview – (continued)
 October 31, 2023 (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 4.79%, before sales charges, for the twelve-month period ended October 31, 2023, underperforming the Fund’s benchmarks, the Russell 3000 Index, which returned 8.38% for the same period and the S&P 500 Index, which returned 10.14% for the same period. For the same period, the Class A shares of the Fund, before sales charges, underperformed the 5.60% 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, as measured by the Russell 3000 Index, rose over the trailing twelve-month period ending October 31, 2023. Greater optimism that the U.S. Federal Reserve (Fed) would begin to scale back its aggressive pace of interest rate increases, along with outsized short covering and hedging, helped to fuel a sharp rebound in stocks in November 2022 before risk sentiment waned in December 2022 amid recession fears, macroeconomic challenges, and downside earnings risks in the coming quarters.
U.S. equity markets surged higher in the first quarter of 2023. The sudden collapse of two U.S. regional banks prompted swift policy actions by federal regulators, which helped stabilize liquidity and stem the potential for broader contagion. The turmoil generated more uncertainty about the U.S. economic outlook, as investors dealt to assess the impact of tightening credit conditions and the path of interest rates and inflation. As the period went on, a narrow group of mega-cap technology companies rallied as they benefited from investor optimism about their earnings potential and growth prospects and exuberance surrounding generative artificial intelligence (AI). Markedly stronger-than-forecast first-quarter corporate earnings and improving earnings prospects bolstered market sentiment.
U.S. equities were later pressured by surging Treasury yields amid firming views that the Fed will keep interest rates elevated for a prolonged period. Even as household budgets were strained by tightening credit conditions and lofty prices, markets dialed back the probability of recession as cooling inflation, a solid job market, and resilient consumer spending increased the potential that the U.S. economy could achieve a “soft landing”.
Returns varied by market cap during the period, as mid- and small-cap equities, as measured by the S&P MidCap 400 Index and the Russell 2000 Index, respectively, both underperformed large-cap equities, as measured by the S&P 500 Index. 
Five of the eleven sectors in the Russell 3000 Index posted positive returns during the period, while six sectors posted negative returns. Strong performers included the Communication Services (+32.00%), Information Technology (+28.10%), and Consumer Discretionary (+7.20%) sectors, while the Utilities (-8.59%), Real Estate (-7.96%), and Healthcare (-5.66%) sectors detracted most. 
During the period, the Fund underperformed the Russell 3000 Index primarily due to weak stock selection within the Information Technology, Materials, and Healthcare sectors. Conversely, stronger selection within the Consumer Staples, Industrials, and Consumer Discretionary sectors contributed positively to returns relative to the Russell 3000 Index during the period. Sector allocation, a result of bottom-up stock selection, also detracted during the period primarily due to the Fund’s underweight exposures to the Information Technology and Communication Services sectors and an overweight exposure to the Healthcare sector. Underweight exposures to the Utilities and Energy sectors relative to the Russell 3000 Index contributed positively to performance.
The Fund’s underweight exposures, relative to the Russell 3000 Index, to Microsoft (Information Technology) and NVIDIA (Information Technology), and an overweight exposure to FMC (Materials) were the top relative detractors from Fund performance during the period. Microsoft is an American multinational technology company. Shares of Microsoft ended the period higher based on what we consider to be strong financial performance, which was boosted by their cloud and AI technologies. High expectations from their newly announced Copilot also helped to push the stock up. The Fund maintained an underweight position to the stock as of the end of the period. NVIDIA is an American multinational technology company. Shares of NVIDIA sharply rose over the period as the company reported quarterly earnings that exceeded consensus estimates, in large part due to the rapid adoption of AI technology.  We increased the Fund’s holdings in the stock during the period, but the Fund remains underweight relative to the benchmark as of the end of the period. FMC is an American chemical manufacturing company. Shares of FMC fell over the period due to a significant year-over-year decline in revenue and earnings. The company also cut its forward guidance for 2023, citing substantially lower sales volume in the Latin America region. The Fund maintained an overweight to the stock as of the end of the period.
 

3


The Hartford Capital Appreciation Fund
 Fund Overview – (continued)
 October 31, 2023 (Unaudited) 

FMC (Materials), Pfizer (Healthcare), and Southwest Airlines (Industrials) were among the largest detractors from performance on an absolute basis over the period.
Top contributors to performance relative to the Russell 3000 Index included the Fund’s purchase and sale of shares of Tesla (Consumer Discretionary) during the period, an overweight exposure to Tradeweb Markets (Financials), as well as the Fund’s decision to not hold Bank of America (Financials). Tesla engages in the design, development, manufacture, and sale of fully electric vehicles (EVs), energy generation and storage systems. Shares of Tesla rose over the period after reporting strong financial results in 2022. The company's Model Y was the number one selling vehicle globally in the first quarter becoming the first EV to claim that title. Tradeweb Markets is an international Financial Services company. Shares of Tradeweb Markets rose over the period after the company reported second quarter earnings that beat consensus estimates, driven by lower expenses. Revenue from the company’s rate-based trading products also contributed positively to results. The team increased the Fund’s overweight position in the stock. Bank of America is an American multinational investment bank and Financial Services holding company. Shares of Bank of America fell over the period amid heightened fears of the fallout from the financial distress at Silicon Valley Bank, Silvergate Capital, and Signature Bank. The Fund continues to not hold the stock.
Microsoft (Information Technology), NVIDIA (Information Technology), and Alphabet (Communication Services) were among the largest contributors to performance on an absolute basis over the period. 
From a style perspective, the Fund’s slight overweight exposure to lower beta names contributed positively to performance, while the Fund’s slight underweight exposure to higher-momentum names detracted from performance. 
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 contributed positively to performance relative to the Russell 3000 Index.
What is the outlook as of the end of the period?
As of the end of the period, markets remain volatile and investors are avidly watching the development of macroeconomic themes and the risks they pose. We believe there will be ongoing volatility as investors react to the potential for persistently higher interest rates, sticky inflation, a slowdown in China, and the outsized impact of a select few stocks on index returns.  As ever, managing risk is at the forefront of our investment process.
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.  Looking forward, we believe structurally higher interest rates may create more volatility in business models that have previously been stable. We are cognizant of areas of the value universe that have a heightened risk of insolvency.  Finally, within the growth universe, we are wary of
longer duration growth stocks – especially those with long make-back periods due to heightened speculation – that are more sensitive to valuation risk. 
At the end of the period, the Fund’s largest overweights were to the Industrials and Financials 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.
Composition by Sector(1)
as of 10/31/2023
Sector Percentage
of Net Assets
Equity Securities  
Communication Services 7.4%
Consumer Discretionary 10.2
Consumer Staples 6.3
Energy 3.1
Financials 15.1
Health Care 14.3
Industrials 13.0
Information Technology 20.8
Materials 3.0
Real Estate 3.2
Utilities 0.9
Total 97.3%
Short-Term Investments 0.6
Other Assets & Liabilities 2.1
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.

4


Hartford Core Equity Fund
 Fund Overview
 October 31, 2023 (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 (10/31/2013 - 10/31/2023)
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 10/31/2023
  1 Year 5 Years 10 Years
Class A1 6.77% 9.83% 10.80%
Class A2 0.90% 8.59% 10.18%
Class C1 5.99% 9.01% 9.99%
Class C3 4.99% 9.01% 9.99%
Class I1 7.04% 10.11% 11.05%
Class R31 6.37% 9.43% 10.44%
Class R41 6.77% 9.82% 10.81%
Class R51 7.04% 10.10% 11.11%
Class R61 7.14% 10.21% 11.20%
Class Y1 7.05% 10.13% 11.15%
Class F1 7.13% 10.21% 11.12%
S&P 500 Index 10.14% 11.01% 11.18%
    
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 10/31/2023, 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 0.46% 0.46%
Class R3 1.08% 1.08%
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 10/31/2023.
 

5


Hartford Core Equity Fund
 Fund Overview – (continued)
 October 31, 2023 (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
* Mammen Chally, CFA announced his plan to retire and withdraw from the partnership of Wellington Management Company LLP's parent company, and effective June 30, 2024, he will no longer serve as a portfolio manager for the Fund. Mr. Chally’s portfolio management responsibilities will transition to Douglas W. McLane, CFA in the months leading up to his departure.


Manager Discussion
How did the Fund perform during the period?
The Class A shares of the Hartford Core Equity Fund returned 6.77%, before sales charges, for the twelve-month period ended October 31, 2023, underperforming the Fund’s benchmark, the S&P 500 Index, which returned 10.14% for the same period. For the same period, the Class A shares of the Fund, before sales charges, also underperformed the 9.53% 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, as measured by the S&P 500 Index, rose over the trailing twelve-month period ending October 31, 2023. Greater optimism that the U.S. Federal Reserve (Fed) would begin to scale back its aggressive pace of interest rate increases, along with outsized short covering and hedging, helped to fuel a sharp rebound in stocks in November 2022 before risk sentiment waned in December 2022 amid recession fears, macroeconomic challenges, and downside earnings risks in the coming quarters.
U.S. equity markets surged higher in the first quarter of 2023. The sudden collapse of two U.S. regional banks prompted swift policy actions by federal regulators, which helped stabilize liquidity and stem the potential for broader contagion. The turmoil generated more uncertainty about the U.S. economic outlook, as investors dealt to assess the impact of tightening credit conditions and the path of interest rates and inflation. As the period went on, a narrow group of mega-cap technology companies rallied as they benefited from investor optimism about their earnings potential and growth prospects and exuberance surrounding generative artificial intelligence. Markedly stronger-than-forecast first-quarter corporate earnings and improving earnings prospects bolstered market sentiment. 
U.S. equities were later pressured by surging Treasury yields amid firming views that the Fed will keep interest rates elevated for a prolonged period. Even as household budgets were strained by tightening credit conditions and lofty prices, markets dialed back the
probability of recession as cooling inflation, a solid job market, and resilient consumer spending increased the potential that the U.S. economy could achieve a “soft landing”. 
Returns varied by market capitalization during the period, as large-cap equities, as measured by the S&P 500 Index, outperformed small-cap and mid-cap equities, as measured by the Russell 2000 Index and S&P MidCap 400 Index, respectively. 
Six out of eleven sectors in the S&P 500 Index fell during the period, with the Utilities (-8%) and Real Estate (-7%) sectors performing the worst. The Communication Services (+36%) and Information Technology (+31%) sectors were the best performers during the period. 
Overall, the Fund’s underperformance versus the S&P 500 Index during the period was driven by weak security selection, primarily within the Information Technology, Industrials, and Communication Services sectors. This was partially offset by stronger stock selection within the Healthcare, Consumer Discretionary, and Financials 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 overweight to the Healthcare sector and underweight to the Communication Services sector. This was partially offset by the Fund’s underweight positions to the Energy and Real Estate sectors, which contributed positively to performance. 
The top detractors from the Fund’s relative performance over the period were underweights in NVIDIA (Information Technology) and Meta Platforms (Communication Services) and an overweight in Sysco (Consumer Staples).  Shares of NVIDIA rose over the period after the chipmaker gave a third-quarter revenue forecast above expectations, indicating that demand for chips used in artificial intelligence computing remains robust. The company also reported second-quarter revenue above estimates, driven by better-than-expected results in its Data Center and Gaming segments. The share price of Meta Platforms, a U.S.-based social networking operator, rose after management released solid second quarter 2023 results and positive near-term guidance. The company reported that
 

6


Hartford Core Equity Fund
 Fund Overview – (continued)
 October 31, 2023 (Unaudited) 

quarterly revenue rose 11% year-over-year, buoyed by a rebound in online advertising after a post-pandemic slump. Shares of Sysco fell over the period. The company’s fiscal year end, July 1, 2023, reported results which showed record results which entails record cash flow for the year, an improved target net debt ratio, and improved productivity which resulted in strong bottom-line margin expansion.  Top absolute detractors from the Fund’s performance for the period included Bank of America (Financials), Pfizer (Healthcare), and Estee Lauder (Consumer Staples). 
The top contributors to relative performance over the period were overweight positions in Eli Lilly (Healthcare) and KLA (Information Technology) and not owning Johnson & Johnson (Healthcare).  Shares of Eli Lilly rose after the company reported strong second quarter 2023 results, with total revenue rising 28% to $8.3 billion from the same quarter last year. Management of Eli Lilly also raised its annual forecasts as demand for new diabetes drug Mounjaro surged ahead of a decision on its use as a weight-loss treatment. Shares of KLA rose over the period. The company reported fiscal fourth-quarter results which beat expectations with net income of $684.7 million, or $4.97 a share. The company attributed strong performance to the combination of the broad strength of their portfolio, focused operational execution and high-performing teams coming together to deliver against their financial objectives in what remains a challenging demand environment. Shares of Johnson & Johnson fell during the period. Shares were pressured by the announcement of slowing production of COVID-19 vaccines due to weakening demand as well as mixed fourth quarter earnings results that showed declining sales that were driven by waning COVID-19 vaccines and foreign exchange (FX) challenges. Additionally, costs related to the company’s spin-off of its consumer-health business as well as ongoing talc litigations remain an overhang. Top absolute contributors to the Fund’s performance for the period included Microsoft (Information Technology), Alphabet (Communication Services), and Amazon (Consumer Discretionary). 
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, U.S. labor markets continue to demonstrate underlying strength, with unemployment levels still below 4% and year over year increases in hourly wages continuing to show growth in the 4% range. We believe that the upward surprise in the Job Openings and Labor Turnover (JOLTS) report in August has further fueled the sense of heightened labor bargaining power, evidenced in increasing union activism and resultant strikes such as those seen at the UAW and elsewhere. Observable strength in the economy caused the Fed at its most recent meeting to raise its projections for growth in 2023 and 2024 from prior levels, while also seeming, in our view, to justify its current stance to maintain interest rates at higher levels.
The resumption of student debt servicing began October 1st and we believe this serves as an additional stressor to a U.S. consumer that has balanced solid wage growth with dwindling excess savings, record-low housing affordability, and the cumulative impact being felt in myriad ways in their daily lives from the higher rate environment. 
We believe fourth quarter spending trends in the all-important holiday season will bear watching as this may provide a key indicator into consumer confidence and spending intentions heading into 2024.
The U.S. Congress avoided a government shutdown through the passing of a 45-day funding bill, but the risk of a shutdown in mid-November looms. In our view, the ousting of former Speaker Kevin McCarthy has created uncertainty, not only in Republican leadership, but also in the fixed income market, with Treasury yields now exceeding those witnessed in the ’08-‘09 financial crisis. We believe heightened concern around elevated deficits might not yet lead to constructive discussion, compromise, and resolution within Congress, but the increased risk is being met with an increased wariness in the bond market.
Outside of the U.S., we believe that the persistent war in Europe, a new conflict in the Middle East, and the continuing weakness in the Chinese economy remain top-of-mind concerns for the markets.
At the end of the period, the Fund’s largest overweights were to the Healthcare, Utilities, and Communication Services sectors, while the Fund’s largest underweights were to the Materials, Industrials, and Information Technology 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.
Composition by Sector(1)
as of 10/31/2023
Sector Percentage
of Net Assets
Equity Securities  
Communication Services 8.9%
Consumer Discretionary 10.5
Consumer Staples 6.7
Energy 4.0
Financials 12.4
Health Care 16.9
Industrials 7.4
Information Technology 27.0
Materials 1.1
Real Estate 1.5
Utilities 2.9
Total 99.3%
Short-Term Investments 0.2
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.

7


The Hartford Dividend and Growth Fund
 Fund Overview
 October 31, 2023 (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 (10/31/2013 - 10/31/2023)
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 10/31/2023
  1 Year 5 Years 10 Years
Class A1 2.43% 9.33% 9.46%
Class A2 -3.21% 8.10% 8.84%
Class C1 1.67% 8.49% 8.63%
Class C3 0.71% 8.49% 8.63%
Class I1 2.66% 9.61% 9.72%
Class R31 2.05% 8.93% 9.08%
Class R41 2.33% 9.26% 9.41%
Class R51 2.68% 9.60% 9.74%
Class R61 2.78% 9.71% 9.84%
Class Y1 2.68% 9.65% 9.81%
Class F1 2.79% 9.71% 9.79%
S&P 500 Index 10.14% 11.01% 11.18%
Russell 1000 Value Index 0.13% 6.60% 7.60%
    
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 10/31/2023, 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 0.96% 0.96%
Class C 1.74% 1.74%
Class I 0.72% 0.72%
Class R3 1.34% 1.34%
Class R4 1.04% 1.04%
Class R5 0.73% 0.73%
Class R6 0.63% 0.63%
Class Y 0.74% 0.72%
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 02/29/2024 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 10/31/2023.
 

8


The Hartford Dividend and Growth Fund
 Fund Overview – (continued)
 October 31, 2023 (Unaudited) 

Portfolio Managers
Matthew G. Baker
Senior Managing Director and Equity Portfolio Manager
Wellington Management Company LLP
Nataliya Kofman
Senior  Managing Director and Equity Portfolio Manager
Wellington Management Company LLP
Brian J. Schmeer, CFA
Vice President 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 Dividend and Growth Fund returned 2.43%, before sales charges, for the twelve-month period ended October 31, 2023, underperforming the Fund’s primary benchmark, the S&P 500 Index, which returned 10.14% for the same period, and outperforming the Fund’s secondary benchmark, the Russell 1000 Value Index, which returned 0.13% for the same period. For the same period, the Class A shares of the Fund, before sales charges, outperformed the 0.83% 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, rose over the trailing twelve-month period ending October 31, 2023. Greater optimism that the U.S. Federal Reserve (Fed) would begin to scale back its aggressive pace of interest rate increases, along with outsized short covering and hedging, helped to fuel a sharp rebound in stocks in November 2022 before risk sentiment waned in December 2022 amid recession fears, macroeconomic challenges, and downside earnings risks in the coming quarters. 
U.S. equity markets surged higher in the first quarter of 2023. The sudden collapse of two U.S. regional banks prompted swift policy actions by federal regulators, which helped stabilize liquidity and stem the potential for broader contagion. The turmoil generated more uncertainty about the U.S. economic outlook, as investors dealt to assess the impact of tightening credit conditions and the path of interest rates and inflation. As the period went on, a narrow group of mega-cap technology companies rallied as they benefited from investor optimism about their earnings potential and growth prospects and exuberance surrounding generative artificial intelligence (AI). Markedly stronger-than-forecast first-quarter corporate earnings and improving earnings prospects bolstered market sentiment.
U.S. equities were later pressured by surging Treasury yields amid firming views that the Fed will keep interest rates elevated for a prolonged period. Even as household budgets were strained by tightening credit conditions and lofty prices, markets dialed back the
probability of recession as cooling inflation, a solid job market, and resilient consumer spending increased the potential that the U.S. economy could achieve a “soft landing”. 
Returns varied by market capitalization during the period, as large-cap equities as measured by the S&P 500 Index outperformed both mid- and small-cap equities, as measured by the S&P MidCap 400 Index and Russell 2000 Index, respectively.
Six out of eleven sectors in the S&P 500 Index fell during the period, with the Utilities (-8%), Real Estate (-7%), and Healthcare (-5%) sectors performing the worst. The Communication Services (+36%), Information Technology (+31%), and Consumer Discretionary (+8%) sectors were the best performers during the period. 
Security selection was the main driver of the Fund’s underperformance relative to the S&P 500 Index over the period. Selection was weakest within the Information Technology, Healthcare, and Financials sectors. This was partially offset by stronger selection within the Energy and Industrials sectors, which contributed positively to relative performance over the same period. Sector allocation, a result of the bottom-up stock selection process, also detracted from the Fund’s performance relative to the S&P 500 Index. An underweight allocation to the Information Technology sector and an overweight allocation to the Financials sector detracted the most from returns relative to the S&P 500 Index during the period. 
The Fund’s top detractors from performance relative to the S&P 500 Index during the period included not owning NVIDIA (Information Technology) and Meta Platforms (Communication Services), and an overweight position to FMC (Materials). Shares of NVIDIA rose during the period as the company became the first chipmaker to achieve $1 trillion market valuation due to strong data center demand on the growing needs of chips for generative artificial intelligence and language learning models. Shares of Meta Platforms, a U.S.-based social networking operator, rose following strong quarter results during the period. The company saw an 11% increase in revenue year-over-year driven by a rebound in online advertising after a post-pandemic slump and boosted its stock buyback authorization by $40 billion. Shares of FMC fell after the company reported quarterly results below consensus estimates due to declines in volume and challenges from foreign currencies during the period. 
 

9


The Hartford Dividend and Growth Fund
 Fund Overview – (continued)
 October 31, 2023 (Unaudited) 

The Fund’s top contributors to performance relative to the S&P 500 Index during the period included not owning Tesla (Consumer Discretionary) and out-of-benchmark positions in Ryanair Holdings (Industrials) and TotalEnergies (Energy). Shares of Tesla fell during the period as the company struggled with underutilization of new factories and higher costs for raw materials, commodities, and logistics. The company’s most recent earnings results missed consensus estimates, noting that it will likely take twelve to eighteen months before Cybertruck is a positive cash flow contributor. Shares of Ryanair, Europe's biggest discount airline, rose during the period. The company raised its full-year profit forecast following stronger-than-expected demand during the Christmas travel period. The company later reported its largest after-tax profit for the third quarter fiscal year 2023 as well as revenue growth of 40% year-over-year, driven by an increase in passenger volumes. Shares of TotalEnergies rose after reporting solid earnings results driven by high commodity prices during the period. The company also announced they will invest $300 million in a new joint venture with Adani Green for a renewable Energy project as part of its plan to get to net zero by 2050.
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?
The divergence between growth and value subsided in the third quarter of 2023. Sectors declined broadly and mega cap technology-related names pulled back following an AI-driven acceleration in the first half of the period. From a macro perspective, we think inconsistent macroeconomic indicators will drive uncertainty around Fed policy in the near term but, in our view, expect interest rates to remain higher for longer. We believe that persistent labor market tightness and wage growth seem inconsistent with the “soft landing” scenario anticipated earlier this year against the backdrop of volatile Energy prices, which we expect to be inflationary over the long term. 
We remain 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. We continue to 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 (e.g., insurance, Healthcare services, consumer defensive) may insulate the portfolio from valuation-driven corrections. 
At the end of the period, the Fund had its largest overweights in the Energy and Financials 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. • 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. Integration of environmental, social, and/or governance (ESG) characteristics into the investment process may not work as intended.
Composition by Sector(1)
as of 10/31/2023
Sector Percentage
of Net Assets
Equity Securities  
Communication Services 9.5%
Consumer Discretionary 3.1
Consumer Staples 6.6
Energy 9.1
Financials 16.0
Health Care 15.5
Industrials 7.6
Information Technology 19.4
Materials 3.8
Real Estate 2.8
Utilities 5.5
Total 98.9%
Short-Term Investments 0.2
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.

10


The Hartford Equity Income Fund
 Fund Overview
 October 31, 2023 (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 (10/31/2013 - 10/31/2023)
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 10/31/2023
  1 Year 5 Years 10 Years
Class A1 -1.39% 8.37% 8.30%
Class A2 -6.82% 7.15% 7.68%
Class C1 -2.13% 7.54% 7.49%
Class C3 -3.01% 7.54% 7.49%
Class I1 -1.22% 8.61% 8.56%
Class R31 -1.77% 7.97% 7.90%
Class R41 -1.52% 8.28% 8.23%
Class R51 -1.21% 8.60% 8.55%
Class R61 -1.10% 8.72% 8.66%
Class Y1 -1.14% 8.65% 8.62%
Class F1 -1.08% 8.72% 8.63%
Russell 1000 Value Index 0.13% 6.60% 7.60%
    
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 10/31/2023, 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 0.74% 0.74%
Class R3 1.35% 1.35%
Class R4 1.06% 1.06%
Class R5 0.75% 0.75%
Class R6 0.64% 0.64%
Class Y 0.73% 0.73%
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 10/31/2023.
 

11


The Hartford Equity Income Fund
 Fund Overview – (continued)
 October 31, 2023 (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 -1.39%, before sales charges, for the twelve-month period ended October 31, 2023, underperforming the Fund’s benchmark, the Russell 1000 Value Index, which returned 0.13% for the same period. For the same period, the Class A shares of the Fund, before sales charges, also underperformed the 0.83% 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, as measured by the Russell 1000 Value Index, rose over the trailing twelve-month period ending October 31, 2023. Greater optimism that the U.S. Federal Reserve (Fed) would begin to scale back its aggressive pace of interest rate increases, along with outsized short covering and hedging, helped to fuel a sharp rebound in stocks in November 2022 before risk sentiment waned in December 2022 amid recession fears, macroeconomic challenges, and downside earnings risks in the coming quarters.  U.S. equity markets rallied in the first quarter of 2023. The sudden collapse of two U.S. regional banks prompted swift policy actions by federal regulators, which helped stabilize liquidity and stem the potential for broader contagion. The turmoil generated more uncertainty about the U.S. economic outlook, as investors dealt to assess the impact of tightening credit conditions and the path of interest rates and inflation. As the period went on, a narrow group of mega-cap technology companies rallied as they benefited from investor optimism about their earnings potential and growth prospects and exuberance surrounding generative artificial intelligence. Markedly stronger-than-forecast first-quarter corporate earnings and improving earnings prospects bolstered market sentiment.
U.S. equities were later pressured by surging Treasury yields amid firming views that the Fed will keep interest rates elevated for a prolonged period. Even as household budgets were strained by tightening credit conditions and lofty prices, markets dialed back the probability of recession as cooling inflation, a solid job market, and resilient consumer spending increased the potential that the U.S. economy could achieve a “soft landing”.
Seven of the eleven sectors in the Russell 1000 Value Index declined during the period, with the Healthcare (-10%), Real Estate (-8%), and Utilities (-8%) sectors lagging the most. Conversely, the Communication Services (+30%), Information Technology (+8%), and Industrials (+7%) sectors were the top performers.
The Fund’s underperformance relative to the Russell 1000 Value Index during the period was driven by sector allocation, a result of our bottom-up stock selection process. The Fund’s underweight position in the Communication Services sector and overweight positions in the Healthcare and the Utilities sectors detracted from relative results. This was partially offset by the Fund’s overweight position in the Information Technology sector. Security selection contributed positively to relative performance. Strong selection in the Materials, Consumer Discretionary, and Healthcare sectors was partially offset by weaker selection in the Consumer Staples, Industrials, and Financials sectors.
Top detractors from relative performance during the period included not holding Meta Platforms (Communication Services), a position in Pfizer (Healthcare), and not holding Berkshire Hathaway (Financials). Not owning Meta Platforms detracted from relative performance as shares rose after the company reported better-than-forecast revenue for the fourth quarter 2022 and boosted its stock buyback authorization by $40 billion. Management of Meta Platforms also said that it anticipated lowered total expenses in 2023 driven in part by staff reduction. The company later reported upbeat quarterly results and raised guidance driven by an improving digital advertising environment.  Shares of pharmaceutical and biotechnology company, Pfizer, declined during the period as the company faced questions on the sustainability of its revenue from its COVID portfolio as the pandemic eased. As of the end of the period, the Fund continued to own Pfizer.  Not owning Berkshire Hathaway detracted from relative performance as shares rose on solid quarterly results.
Top contributors to relative returns included the Fund's out-of-benchmark positions in Broadcom (Information Technology), Ares Management (Financials), and Rio Tinto (Materials). Shares of Broadcom climbed higher in May alongside the semiconductor sector after NVIDIA announced second-quarter revenue guidance more than 50% above estimates. Broadcom also reported better-than-expected earnings for the fiscal second quarter, which management attributed to demand for next generation technologies from hyperscale. Shares of Ares Management, the alternative investment manager, rose during the period on the back of fundraising momentum and new client commitments. Shares of Metals and Mining company, Rio Tinto, rose during the period as China's COVID policies relaxed and mounting worries about supply helped fuel a sharp rally in Metals and Mining stocks. As of the end of the period, the Fund continued to own all three positions as discussed above.
Derivatives were not used in the Fund during the period and did not have an impact on performance during the period.
 

12


The Hartford Equity Income Fund
 Fund Overview – (continued)
 October 31, 2023 (Unaudited) 

What is the outlook as of the end of the period?
Looking ahead, 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. We continue to evaluate downside stress test scenarios in the Fund.
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, Industrials, and Financials sectors were the Fund’s largest underweights.
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. 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. Integration of environmental, social, and/or governance (ESG) characteristics into the investment process may not work as intended.
Composition by Sector(1)
as of 10/31/2023
Sector Percentage
of Net Assets
Equity Securities  
Consumer Discretionary 4.6%
Consumer Staples 10.6
Energy 9.9
Financials 19.1
Health Care 17.7
Industrials 10.4
Information Technology 8.2
Materials 5.9
Real Estate 5.1
Utilities 8.0
Total 99.5%
Short-Term Investments 0.0 *
Other Assets & Liabilities 0.5
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.

13


The Hartford Growth Opportunities Fund
 Fund Overview
 October 31, 2023 (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 (10/31/2013 - 10/31/2023)
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 10/31/2023
  1 Year 5 Years 10 Years
Class A1 16.92% 9.51% 11.28%
Class A2 10.49% 8.28% 10.65%
Class C1 16.02% 8.69% 10.46%
Class C3 15.02% 8.69% 10.46%
Class I1 17.20% 9.79% 11.56%
Class R31 16.51% 9.13% 10.91%
Class R41 16.88% 9.46% 11.24%
Class R51 17.21% 9.78% 11.57%
Class R61 17.32% 9.90% 11.68%
Class Y1 17.24% 9.82% 11.64%
Class F1 17.33% 9.90% 11.63%
Russell 3000 Growth Index 17.32% 13.49% 13.27%
Russell 1000 Growth Index 18.95% 14.22% 13.82%
    
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 10/31/2023, 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 1.08% 1.08%
Class C 1.85% 1.85%
Class I 0.83% 0.83%
Class R3 1.45% 1.45%
Class R4 1.14% 1.14%
Class R5 0.84% 0.84%
Class R6 0.74% 0.74%
Class Y 0.83% 0.83%
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 10/31/2023.
 

14


The Hartford Growth Opportunities Fund
 Fund Overview – (continued)
 October 31, 2023 (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 16.92%, before sales charges, for the twelve-month period ended October 31, 2023, underperforming the Fund’s primary benchmark, the Russell 3000 Growth Index, which returned 17.32% for the same period, and underperforming the Fund’s secondary benchmark, the Russell 1000 Growth Index, which returned 18.95% for the same period. For the same period, the Class A shares of the Fund, before sales charges, outperformed the 8.16% 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 Russell 3000 Growth Index, rose over the trailing twelve-month period ending October 31, 2023. Greater optimism that the U.S. Federal Reserve (Fed) would begin to scale back its aggressive pace of interest rate increases, along with outsized short covering and hedging, helped to fuel a sharp rebound in stocks in November 2022 before risk sentiment waned in December 2022 amid recession fears, macroeconomic challenges, and downside earnings risks in the coming quarters.
U.S. equity markets surged higher in the first quarter of 2023. The sudden collapse of two U.S. regional banks prompted swift policy actions by federal regulators, which helped stabilize liquidity and stem the potential for broader contagion. The turmoil generated more uncertainty about the U.S. economic outlook, as investors dealt to assess the impact of tightening credit conditions and the path of interest rates and inflation. As the period went on, a narrow group of mega-cap technology companies rallied as they benefited from investor optimism about their earnings potential and growth prospects and exuberance surrounding generative artificial intelligence (AI). Markedly stronger-than-forecast first-quarter corporate earnings and improving earnings prospects bolstered market sentiment.
U.S. equities were later pressured by surging Treasury yields amid firming views that the Fed will keep interest rates elevated for a prolonged period. Even as household budgets were strained by tightening credit conditions and lofty prices, markets dialed back the probability of recession as cooling inflation, a solid job market, and resilient consumer spending increased the potential that the U.S. economy could achieve a “soft landing”.
Six out of eleven sectors in the Russell 3000 Growth Index rose during the period, with Communication Services (+34%), Information Technology (+32%), and Consumer Discretionary (+11%) performing the best while Utilities (-16%), Real Estate (-6%), and Energy (-3%) performed the worst during the period.
Sector allocation, a result of our bottom-up stock selection process, was the primary driver of underperformance relative to the Russell 3000 Growth Index during the period, due to an underweight to the Information Technology sector and an overweight to the Healthcare sector. This was partially offset by an overweight to the Communication Services and an underweight to the Consumer Staples sectors.
Security selection contributed positively to performance relative to the Russell 3000 Growth Index during the period. Strong selection in the Consumer Discretionary, Communication Services, and Information Technology sectors was partially offset by weak selection within the Healthcare, Materials, and Real Estate sectors.
Top detractors from performance relative to the Russell 3000 Growth Index during the period included Microsoft (Information Technology), ZoomInfo Technologies (Communication Services), and Align Technology (Healthcare).  Shares of Microsoft rose during the period following third quarter results where revenue and earnings per share beat consensus estimates. The intelligent cloud and the productivity and business processes segments each grew revenue by double digits year-over-year. Also, the company's alliance with OpenAI has led to the announcement of new product releases including Copilot, an AI assistant designed to help navigate Bing and the Office product suite. Shares of ZoomInfo Technologies fell after the sales and marketing software company issued weaker-than-expected second quarter results and cut its guidance for full-year 2023. The company’s revenue failed to meet consensus estimates while full year guidance on revenue was cut indicating challenges in the fourth quarter. Shares of Align Technology fell over a volatile year. Shares of Align Technology rose in June as the company provided an encouraging business update at the Goldman Sachs Global Healthcare Conference. Shares of the company then fell in October as third quarter results were significantly worse than expected. Demand was weak and orthodontic patient appointments and case starts decreased significantly in September 2023 and continued through October 2023. Management of Align Technology expects revenue to be down sequentially in the fourth quarter due to weak trends and a challenging macro environment. Align Technology is also executing a headcount
 

15


The Hartford Growth Opportunities Fund
 Fund Overview – (continued)
 October 31, 2023 (Unaudited) 

reduction. ZoomInfo Technologies (Communication Services) and Align Technology (Healthcare) were among the top absolute detractors during the period.
Top contributors to performance relative to the Russell 3000 Growth Index during the period included Meta Platforms (Communication Services), NVIDIA (Information Technology), and the Fund’s underweight position in Tesla (Consumer Discretionary). The share price of Meta Platforms, a U.S.-based social networking operator, rose after management released solid second quarter results and positive near-term guidance. The company reported quarterly revenue rose 11% year-over-year, buoyed by a rebound in online advertising after a post-pandemic slump. Shares of NVIDIA surged over the period after the chipmaker provided second-quarter revenue and gross margin outlook sharply above estimates, driven by strong data center demand on the growing need of chips for generative artificial intelligence and language learning models. At the end of May 2023, the company became the first chipmaker to achieve a $1 trillion market valuation. Shares of Tesla fell over the period after the company reported lower-than-expected third quarter production and delivery numbers. Tesla reported 343,000 total deliveries and 365,000 vehicles produced during the quarter. The company also announced a 20% output cut of the Model Y at the company’s Shanghai plant along with growing pains from executive turnover, logistical challenges and rising commodity prices. NVIDIA (Information Technology) and Meta Platforms (Communication Services) were among the top absolute contributors during the period. 
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, we continue to seek to take advantage of the current market volatility by investing in well-managed companies where we believe future earnings growth is underappreciated by the market, while being cognizant of the downside risks. With interest rates likely stabilizing from here, in our view, we are hopeful this provides a more supportive backdrop for growth stocks and for fundamentals to drive returns.
At the end of the period, the Fund’s largest overweights were to the Communication Services and Healthcare sectors relative to the Russell 3000 Growth Index and the Fund was most underweight to the Information Technology and the Consumer Discretionary 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. 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 10/31/2023
Sector Percentage
of Net Assets
Equity Securities  
Communication Services 17.8%
Consumer Discretionary 12.5
Consumer Staples 1.9
Energy 1.0
Financials 5.9
Health Care 17.7
Industrials 7.2
Information Technology 31.4
Materials 1.0
Real Estate 1.5
Total 97.9%
Short-Term Investments 1.3
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.

16


The Hartford Healthcare Fund
 Fund Overview
 October 31, 2023 (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 (10/31/2013 - 10/31/2023)
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 10/31/2023
  1 Year 5 Years 10 Years
Class A1 -5.11% 6.69% 9.25%
Class A2 -10.33% 5.49% 8.63%
Class C1 -5.84% 5.87% 8.43%
Class C3 -6.77% 5.87% 8.43%
Class I1 -4.86% 6.98% 9.54%
Class R31 -5.45% 6.32% 8.89%
Class R41 -5.14% 6.65% 9.22%
Class R51 -4.88% 6.96% 9.54%
Class R61 -4.77% 7.08% 9.66%
Class Y1 -4.88% 6.99% 9.61%
Class F1 -4.77% 7.08% 9.61%
S&P Composite 1500 Health Care Index -5.24% 8.48% 10.84%
S&P 500 Index 10.14% 11.01% 11.18%
    
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 10/31/2023, 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 1.26% 1.26%
Class C 2.03% 2.03%
Class I 1.00% 1.00%
Class R3 1.61% 1.61%
Class R4 1.30% 1.30%
Class R5 1.01% 1.01%
Class R6 0.90% 0.90%
Class Y 1.00% 1.00%
Class F 0.89% 0.89%
    
* 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 10/31/2023.
 

17


The Hartford Healthcare Fund
 Fund Overview – (continued)
 October 31, 2023 (Unaudited) 

Portfolio Managers
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


Manager Discussion
How did the Fund perform during the period?
The Class A shares of The Hartford Healthcare Fund returned -5.11%, before sales charges, for the twelve-month period ended October 31, 2023, outperforming the Fund’s benchmark, the S&P Composite 1500 Health Care Index, which returned -5.24% for the same period, while underperforming the S&P 500 Index, the Fund’s other benchmark, which returned 10.14% for the same period. For the same period, the Class A shares of the Fund, before sales charges, underperformed the -4.24% 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 (-5.24%) underperformed both the broader United States (U.S.) equity market (+10.14%) and the global equity market (+11.06%) during the period, as measured by the S&P Composite 1500 Health Care Index, S&P 500 Index, and MSCI ACWI Index (Net), respectively.   Within the S&P Composite 1500 Health Care Index, all five sub-sectors posted negative absolute returns during the period. Small-cap Biopharma (-31.13%), mid-cap Biopharma (-16.54%), Medical Technology (-8.56%), Healthcare Services (-6.22%) and large-cap Biopharma (-1.32%) declined during the period.
Security selection was the primary contributor to the Fund’s performance relative to the S&P Composite 1500 Health Care Index during the period. Sector allocation detracted from relative returns. Security selection was strongest in the large-cap Biopharma and small-cap Biopharma sub-sectors. Selection in the Medical Technology and Healthcare Services sub-sectors detracted from relative returns. Within sector allocation, which is a by-product of the bottom-up stock selection process, an overweight allocation to mid-cap Biopharma detracted most from relative performance during the period, while an underweight to Medical Technology contributed positively to relative returns. 
Not holding Johnson & Johnson (large-cap Biopharma) or CVS Health (Healthcare Services), and the Fund’s position in Exact Sciences (Medical Technology) were the top contributors to performance relative to the S&P Composite 1500 Health Care Index over the period. Not owning Johnson & Johnson, a constituent of the S&P Composite 1500 Health Care Index, contributed positively to relative performance, as shares traded lower. Slowing growth in pharma and major immunology drug patent expires in 2023/2024 have weighed on the stock. Additionally, the company’s bankruptcy strategy to ringfence talc liabilities during the period has remained an overhang due to some legal risk as well as the potential for longstanding reputational damage. Not owning benchmark constituent CVS also contributed positively to relative performance, as negative sentiment around CVS’ acquisition price for Oak Street Health and Signify Health weighed on the stock as well as investor concerns of potential decelerating earnings per share growth in 2024. Shares of Exact Sciences rose after its competitor in cancer screening, Guardant Health, announced results from a study using its blood test to screen for colorectal cancer that showed a sensitivity rate of 83% lagging Exact Sciences' stool-sample screening test, Cologuard, which has a sensitivity rate of 92%. The company also announced positive preliminary fourth quarter results citing a year-over-year increase in revenues excluding COVID-19 testing driven by strength in its cancer screening diagnostics including the company’s colorectal cancer screening test, Cologuard. Eli Lilly, Stryker, and Boston Scientific were the top absolute contributors to the Fund’s performance.
Illumina (Medical Technology), AdaptHealth (Healthcare Services), and Insulet (Medical Technology) detracted from results relative to the S&P Composite 1500 Health Care Index over the period. Shares of Illumina declined as ongoing regulatory overhang and mixed quarterly results over the period have weighed on the stock. Most recently the company lowered 2023 guidance and expects second half of 2023 revenue growth to be impacted by a slow recovery in China, cautious purchasing behavior, and a decline in consumables as clients transition to the NovaSeq X system. Illumina is undergoing a management transition including a new CEO and the U.S. Securities and Exchange Commission investigation of the GRAIL acquisition is also still ongoing. Shares of AdaptHealth fell after the company
 

18


The Hartford Healthcare Fund
 Fund Overview – (continued)
 October 31, 2023 (Unaudited) 

reported fourth quarter results showing weaker than expected earnings and revenues. Management of AdaptHealth cited larger impacts from revenue mix and cost pressures than previously expected and ultimately lowered its revenue outlook for 2023. We eliminated the position in the Fund during the period. Shares of Insulet, a supplier of insulin delivery systems for diabetes patients, declined sharply towards the end of the period, primarily in response to concerns that the uptake of weight loss drugs could lead to lower incidence rates of diabetes and softer demand for the company’s insulin pumps. Top absolute detractors from the Fund’s performance during the period included Pfizer, Illumina, and Danaher.
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?
We believe groundbreaking innovation, supportive valuations and business models positioned to show resilience through the cycle may benefit long-term investors in the sector.
Biopharma remains a rich environment for innovation in our view. We anticipate continued developments in disease areas, such as Alzheimer’s disease, metabolic diseases, and cancer and in companies discovering drugs using new modalities, such as RNA and gene therapies. We expect the fundamental backdrop and resilient earnings of large-cap Biopharma to be a tailwind in a potential recessionary environment. We believe that small to mid-cap Biopharma companies remain well positioned as sources of innovation and potential solutions to pipeline gaps for larger companies. We continue to watch next steps in Inflation Reduction Act policy implementation after the initial drug price negotiations list was issued at the end of the period. We believe valuations remain attractive relative to history and recent clinical readouts continue to support robust growth assumptions for major indications.
We believe medical technology innovation has never been stronger due to advancements in technology development, engineering capabilities and integrated informatics. Leading companies gained scale over the last decade and are positioned to drive better organic growth in our view. These include categories in the earlier stages of clinical penetration and geographic expansion such as diabetes, transcatheter aortic valve replacement and mitral valve therapies, genetic sequencing and downstream diagnostics, and robotic surgery. While post-COVID normalization has been choppy, we expect company fundamentals and pipelines may soon reengage as the primary driver of stock performance. We are focused on companies with strong organic growth and superior business models to navigate this macro environment.
We believe health care services companies remain well-positioned to help solve the societal challenge of rising Healthcare costs, and some will benefit from the ongoing transition from a fee-for-service to a fee-for-value care system. We believe managed care remains attractive on valuation, and these companies’ earnings may hold up well in periods of economic volatility. Broadly, we favor companies focused on improving patient outcomes while reigning in costs.
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 10/31/2023
Subsector Percentage of
Net Assets
Equity Securities  
Biotechnology 16.5%
Commercial Services & Supplies 0.4
Health Care Equipment & Supplies 14.6
Health Care Providers & Services 25.9
Life Sciences Tools & Services 11.4
Pharmaceuticals 30.6
Total 99.4%
Short-Term Investments 0.3
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.

19


The Hartford MidCap Fund
 Fund Overview
 October 31, 2023 (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 (10/31/2013 - 10/31/2023)
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 10/31/2023
  1 Year 5 Years 10 Years
Class A1 -3.04% 3.86% 7.11%
Class A2 -8.37% 2.70% 6.51%
Class C1 -3.82% 3.07% 6.31%
Class C3 -4.63% 3.07% 6.31%
Class I1 -2.79% 4.12% 7.37%
Class R31 -3.41% 3.49% 6.75%
Class R41 -3.07% 3.82% 7.08%
Class R51 -2.81% 4.13% 7.40%
Class R61 -2.69% 4.24% 7.51%
Class Y1 -2.80% 4.19% 7.48%
Class F1 -2.69% 4.24% 7.45%
S&P MidCap 400 Index -1.06% 7.03% 7.95%
    
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 10/31/2023, 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.
Operating Expenses* Gross Net
Class A 1.10% 1.10%
Class C 1.86% 1.86%
Class I 0.87% 0.87%
Class R3 1.46% 1.46%
Class R4 1.16% 1.16%
Class R5 0.86% 0.86%
Class R6 0.74% 0.74%
Class Y 0.84% 0.84%
Class F 0.74% 0.74%
    
* 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 10/31/2023.
 

20


The Hartford MidCap Fund
 Fund Overview – (continued)
 October 31, 2023 (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 -3.04%, before sales charges, for the twelve-month period ended October 31, 2023, underperforming the Fund’s benchmark, the S&P MidCap 400 Index, which returned -1.06% for the same period. For the same period, the Class A shares of the Fund, before sales charges, underperformed the -0.08% average return of the Lipper 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, rose over the trailing twelve-month period ending October 31, 2023. Greater optimism that the U.S. Federal Reserve (Fed) would begin to scale back its aggressive pace of interest rate increases, along with outsized short covering and hedging, helped to fuel a sharp rebound in stocks in November 2022 before risk sentiment waned in December 2022 amid recession fears, macroeconomic challenges, and downside earnings risks in the coming quarters. U.S. equity markets surged higher in the first quarter of 2023. The sudden collapse of two U.S. regional banks prompted swift policy actions by federal regulators, which helped stabilize liquidity and stem the potential for broader contagion. The turmoil generated more uncertainty about the U.S. economic outlook, as investors dealt to assess the impact of tightening credit conditions and the path of interest rates and inflation. As the period went on, a narrow group of mega-cap technology companies rallied as they benefited from investor optimism about their earnings potential and growth prospects and exuberance surrounding generative artificial intelligence. Markedly stronger-than-forecast first-quarter corporate earnings and improving earnings prospects bolstered market sentiment.
U.S. equities were later pressured by surging Treasury yields amid firming views that the Fed will keep interest rates elevated for a prolonged period. Even as household budgets were strained by tightening credit conditions and lofty prices, markets dialed back the probability of recession as cooling inflation, a solid job market, and resilient consumer spending increased the potential that the U.S. economy could achieve a “soft landing”.
Returns varied by market capitalization during the period. Large-cap equities, as measured by the S&P 500 Index, outperformed mid-cap equities, as measured by the S&P MidCap 400 Index.  During the period, small-cap equities, as measured by the Russell 2000 Index, underperformed mid-cap equities, as measured by the S&P MidCap 400 Index.
Within the S&P MidCap 400 Index, six out of the eleven sectors posted positive returns during the period. The Industrials (+11%), Information Technology (+8%), and Consumer Discretionary (+3%) sectors performed the best, while the Communication Services (-23%), Utilities (-18%) and Financials (-13%) sectors underperformed the broader index.
The Fund underperformed the S& P MidCap 400 Index during the twelve-month period primarily due to negative security selection. Selection was particularly weak within the Financials, Consumer Discretionary, and Materials sectors. This was partially offset by strong selection in the Information Technology, Communication Services and Energy sectors, which contributed positively to performance during the period. Sector allocation, a result of our bottom-up stock selection process, contributed positively to the Fund’s performance relative to the S&P MidCap 400 Index during the period. This was primarily due to an underweight allocation to the Financials and Real Estate sectors and an overweight to the Information Technology sector. This was partially offset by overweights to the Health Care and Energy sectors, which contributed negatively to performance during the period.
Top detractors from the Fund’s relative performance for the period included Chewy (Consumer Discretionary), First Republic Bank (Financials), and Nuvei (Financials).
Shares of Chewy fell over the period despite the online pet products retailer reporting results for fiscal second quarter 2023 that beat consensus estimates. Management of Chewy provided cautious commentary regarding customers trading down to lower-priced pet food amid high inflation. Management of Chewy also reported a decrease in active customers of 0.6% year-over-year. Shares of First Republic bank declined over the period on limited news. The bank was acquired by JP Morgan in May 2023. Shares of payment technology company Nuvei decreased over the period after the company cut revenue guidance for the full year. The company is also being sued after allegedly refusing to pay out shareholders of Atlanta-based payment processing company Paya after acquiring Paya through a tender offer this year.
 

21


The Hartford MidCap Fund
 Fund Overview – (continued)
 October 31, 2023 (Unaudited) 

Top contributors to relative performance during the period included MongoDB (Information Technology), Axon Enterprise (Industrials), and Exact Sciences (Healthcare). Shares of MongoDB declined over the period despite reporting forecast adjusted earnings per share for the third quarter that beat the average analyst estimate. The broader tech market has caused tech stocks to slide over the period. Shares of Axon Enterprise rose over the period after boosting its revenue guidance for the full year which beat the average analyst estimate. Axon Enterprise reported second quarter earnings per share and sales above estimates which was driven by taser and body camera demand. The company also promoted COO Joshua Isner to President. Shares of Exact Sciences declined over the period as analysts are exercising caution over the health diagnostics company’s lofty valuation following strong second quarter earnings results and guidance raise.
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, we continue to focus new portfolio additions on businesses where we feel there is a long runway for stable growth across the market cycle.
With the market embracing the view of higher rates for longer, we believe the next twelve to 24 months will be less style or factor driven and may be a better environment for individual stock picking. We believe the higher rate environment will be challenging for businesses to grow. While growth will be harder to come by with higher costs of capital in our view, the pace of technological change should continue to move forward and accelerate in our view. In that context, we remain focused on seeking to find businesses that can benefit from this change.
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. 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 10/31/2023
Sector Percentage
of Net Assets
Equity Securities  
Communication Services 1.6%
Consumer Discretionary 11.7
Consumer Staples 1.7
Energy 5.8
Financials 11.5
Health Care 22.9
Industrials 21.1
Information Technology 19.4
Materials 2.6
Real Estate 0.8
Utilities 0.9
Total 100.0%
Short-Term Investments 0.1
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.

22


The Hartford MidCap Value Fund
 Fund Overview
 October 31, 2023 (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 (10/31/2013 - 10/31/2023)
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 10/31/2023
  1 Year 5 Years 10 Years
Class A1 0.04% 6.97% 6.30%
Class A2 -5.46% 5.77% 5.70%
Class C1 -0.75% 6.16% 5.50%
Class C3 -1.62% 6.16% 5.50%
Class I1 0.35% 7.33% 6.62%
Class R31 -0.33% 6.65% 5.98%
Class R41 0.03% 6.98% 6.31%
Class R51 0.33% 7.30% 6.63%
Class R61 0.44% 7.43% 6.71%
Class Y1 0.35% 7.34% 6.69%
Class F1 0.43% 7.43% 6.70%
Russell Midcap Value Index -3.56% 5.69% 6.89%
    
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 10/31/2023, 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 1.17% 1.17%
Class C 1.95% 1.95%
Class I 0.86% 0.86%
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 10/31/2023.
 

23


The Hartford MidCap Value Fund
 Fund Overview – (continued)
 October 31, 2023 (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 0.04% before sales charges, for the twelve-month period ended October 31, 2023, outperforming the Fund’s benchmark, the Russell Midcap Value Index, which returned -3.56% for the same period. For the same period, the Class A shares of the Fund, before sales charges, outperformed the -1.06% average return of the Lipper MidCap 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, as measured by the S&P 500 Index, rose over the trailing twelve-month period ending October 31, 2023. Greater optimism that the U.S. Federal Reserve (Fed) would begin to scale back its aggressive pace of interest rate increases, along with outsized short covering and hedging, helped to fuel a sharp rebound in stocks in November 2022 before risk sentiment waned in December 2022 amid recession fears, macroeconomic challenges, and downside earnings risks in the coming quarters. 
U.S. equity markets surged higher in the first quarter of 2023. The sudden collapse of two U.S. regional banks prompted swift policy actions by federal regulators, which helped stabilize liquidity and stem the potential for broader contagion. The turmoil generated more uncertainty about the U.S. economic outlook, as investors dealt to assess the impact of tightening credit conditions and the path of interest rates and inflation. As the period went on, a narrow group of mega-cap technology companies rallied as they benefited from investor optimism about their earnings potential and growth prospects and exuberance surrounding generative artificial intelligence. Markedly stronger-than-forecast first quarter corporate earnings and improving earnings prospects bolstered market sentiment. 
U.S. equities were later pressured by surging Treasury yields amid firming views that the Fed will keep interest rates elevated for a prolonged period. Even as household budgets were strained by tightening credit conditions and lofty prices, markets dialed back the probability of recession as cooling inflation, a solid job market, and resilient consumer spending increased the potential that the U.S. economy could achieve a “soft landing”. 
Returns varied by market capitalization during the period, as large-cap equities as measured by the S&P 500 Index outperformed both mid- and small-cap equities, as measured by the S&P MidCap 400 Index and Russell 2000 Index, respectively. Returns within the mid-cap space varied by style, as the Russell Midcap Growth Index outperformed the Russell Midcap Value Index. 
Nine out of eleven sectors in the Russell Midcap Value Index declined during the period, with the Consumer Staples (-12%), Healthcare (-10%), and Communication Services (-10%) sectors lagging most. Conversely, the Industrials (+9%) and Energy (+3%) sectors were the top performers and delivered positive returns during the period. 
Security selection was the primary driver of the Fund’s outperformance versus the Russell Midcap Value Index over the period.  Sector allocation decisions also contributed positively, albeit more modestly. Selection within the Consumer Discretionary, Real Estate, and Industrials sectors were the top drivers of performance. This was partially offset by weaker security selection in the Materials, Energy, and Healthcare sectors. Sector allocation, a result of our bottom-up stock selection process, also contributed positively to the Fund’s relative performance. Overweight exposure to the Industrials, Energy, and Financials sectors contributed positively to relative returns but this was partially offset by detraction from an underweight allocation to the Materials sector.  
Top security contributors to the Fund’s performance relative to the Russell Midcap Value Index over the period included overweight positions to Builders FirstSource (Industrials), Welltower (Real Estate), and U.S. Foods Holdings (Consumer Staples). Shares of Builders FirstSource ended the period higher after the company reported first-quarter net sales and margins above expectations, driven by better-than-expected results in their manufactured products and windows, doors, and millwork segments. Shares of Welltower rose after the company reported earnings results that saw revenue beat estimates throughout the period. Management of Welltower raised fiscal year 2023 guidance and highlighted expanding relationships with top operators in the second quarter. Shares of U.S. Foods Holdings ended the period higher following strong earnings results during the period. During the period, management of U.S. Foods Holdings continued to see an increase in volume across all customer types and doubled growth in independent restaurants, fiscal year guidance was raised as a result. 
Top detractors from the Fund’s relative performance during the period included overweight positions to FMC (Materials) and Lumentum Holdings (Information Technology), as well as an out-of-benchmark position in Ingevity (Materials). Shares of FMC fell after the company reported quarterly results below consensus estimates due to declines in volume and challenges from foreign currencies during the period. Shares of Lumentum holdings fell during the period despite better-than-expected quarter results as the company continued to see a decline in revenue and adjusted earnings due to weakness in the Optical Communications segment. Shares of Ingevity declined during the period as the company came up short of expectations regarding quarterly reports due to the continued destocking in certain product lines and pressure on margins from rising crude tall oil costs.
 

24


The Hartford MidCap Value Fund
 Fund Overview – (continued)
 October 31, 2023 (Unaudited) 

Derivatives were not used in the Fund during the period and did not have an impact on performance.
What is the outlook as of the end of the period?
Given the widening range of economic outcomes, we continue to emphasize quality across the portfolio, stress test models and balance sheets, and actively identify new opportunities created by the market turmoil. Over the period, we increased exposure to the Financials and Consumer Discretionary sectors while reducing the Fund’s weights to the Industrials and Healthcare sectors. 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 10/31/2023
Sector Percentage
of Net Assets
Equity Securities  
Communication Services 3.5%
Consumer Discretionary 10.4
Consumer Staples 5.4
Energy 7.1
Financials 20.5
Health Care 9.1
Industrials 15.3
Information Technology 8.7
Materials 6.3
Real Estate 7.6
Utilities 5.2
Total 99.1%
Short-Term Investments 0.1
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.

25


The Hartford Small Cap Growth Fund
 Fund Overview
 October 31, 2023 (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 (10/31/2013 - 10/31/2023)
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 10/31/2023
  1 Year 5 Years 10 Years
Class A1 -5.56% 2.58% 5.39%
Class A2 -10.75% 1.42% 4.80%
Class C1 -6.31% 1.85% 4.66%
Class C3 -7.24% 1.85% 4.66%
Class I1 -5.20% 2.96% 5.74%
Class R31 -5.81% 2.31% 5.12%
Class R41 -5.52% 2.62% 5.44%
Class R51 -5.19% 2.94% 5.77%
Class R61 -5.11% 3.04% 5.86%
Class Y1 -5.19% 2.99% 5.84%
Class F1 -5.14% 3.04% 5.81%
Russell 2000 Growth Index -7.63% 2.68% 5.67%
    
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 10/31/2023, 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 1.25% 1.25%
Class C 1.98% 1.98%
Class I 0.89% 0.89%
Class R3 1.52% 1.52%
Class R4 1.22% 1.22%
Class R5 0.92% 0.92%
Class R6 0.81% 0.81%
Class Y 0.91% 0.87%
Class F 0.80% 0.80%
    
* 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 02/29/2024 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 10/31/2023.
 

26


The Hartford Small Cap Growth Fund
 Fund Overview – (continued)
 October 31, 2023 (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
* Mammen Chally, CFA announced his plan to retire and withdraw from the partnership of Wellington Management Company LLP's parent company, and effective June 30, 2024, he will no longer serve as a portfolio manager for the Fund. Mr. Chally’s portfolio management responsibilities will transition to David A. Siegle, CFA in the months leading up to his departure.


Manager Discussion
How did the Fund perform during the period?
The Class A shares of The Hartford Small Cap Growth Fund returned -5.56%, before sales charges, for the twelve-month period ended October 31, 2023, outperforming the Fund’s benchmark, the Russell 2000 Growth Index, which returned -7.63% for the same period. For the same period, the Class A shares of the Fund, before sales charges, outperformed the -6.21% 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, as measured by the S&P 500 Index, rose over the trailing twelve-month period ending October 31, 2023. Greater optimism that the U.S. Federal Reserve (Fed) would begin to scale back its aggressive pace of interest rate increases, along with outsized short covering and hedging, helped to fuel a sharp rebound in stocks in November 2022 before risk sentiment waned in December 2022 amid recession fears, macroeconomic challenges, and downside earnings risks in the coming quarters.
U.S. equity markets surged higher in the first quarter of 2023. The sudden collapse of two U.S. regional banks prompted swift policy actions by federal regulators, which helped stabilize liquidity and stem the potential for broader contagion. The turmoil generated more uncertainty about the U.S. economic outlook, as investors dealt to assess the impact of tightening credit conditions and the path of interest rates and inflation. As the period went on, a narrow group of mega-cap technology companies rallied as they benefited from investor optimism about their earnings potential and growth prospects and exuberance surrounding generative artificial intelligence. Markedly stronger-than-forecast first-quarter corporate earnings and improving earnings prospects bolstered market sentiment.
U.S. equities were later pressured by surging Treasury yields amid firming views that the Fed will keep interest rates elevated for a prolonged period. Even as household budgets were strained by tightening credit conditions and lofty prices, markets dialed back the
probability of recession as cooling inflation, a solid job market, and resilient consumer spending increased the potential that the U.S. economy could achieve a “soft landing”.
Returns varied by market cap during the period, as large-cap equities, as measured by the S&P 500 Index, outperformed small-cap and mid-cap equities, as measured by the Russell 2000 Index and S&P MidCap 400 Index, respectively.
Eight out of eleven sectors in the Russell 2000 Growth Index had negative returns during the period. The Healthcare (-18%), Utilities (-18%), and Materials (-13%) sectors lagged the broader index while the Consumer Staples (+10%) sector increased.
Security selection was the primary driver of outperformance relative to the Russell 2000 Growth Index during the period. Strong selection within the Information Technology, Consumer Discretionary, and Real Estate sectors contributed positively to relative performance. This was partially offset by weaker selection in the Healthcare, Communication Services, and Industrials sectors, which detracted from relative performance. Sector allocation, a result of the bottom-up stock selection process, also contributed positively to relative performance. This was driven by the Fund’s overweight allocation to the Industrials sector, a lack of exposure to the Utilities sector, and an underweight to the Healthcare sector. An underweight allocation to the Materials sector and an overweight to the Information Technology sector detracted from performance during the period.
The top contributors to relative performance during the period were overweight positions in ImmunoGen (Healthcare), Axcelis Technologies (Information Technology), and Celsius Holdings (Consumer Staples). ImmunoGen shares rose during the period as the company reported strong topline results from a Phase 3 study of antibody-drug conjugate Elahere compared to chemotherapy for the treatment of a specific type of ovarian cancer. Elahere showed a 33% reduction in the risk of death and a 35% reduction in the risk of tumor progression or death in comparison to the chemotherapy trial arm. Shares of Axcelis Technologies rose as the semiconductor service and equipment company increased its revenue guidance at the beginning of the period for its fourth quarter 2022 earnings, driven by
 

27


The Hartford Small Cap Growth Fund
 Fund Overview – (continued)
 October 31, 2023 (Unaudited) 

higher system shipments and aftermarket revenues. Later in the period, Axcelis reported better-than-expected earnings for the fourth quarter and fiscal year 2022 earnings, exceeding analyst expectations for both revenue and earnings per share. Shares of Celsius Holdings, finished the period higher after the beverage company posted first-quarter earnings, which reported that its sales nearly doubled, beating consensus estimates. Management of Celsius Holdings attributed this to the drink’s expanded availability and increased consumer awareness. Top absolute contributors for the period included Celsius Holdings (Consumer Staples), Super Micro Computer (Information Technology), and Axcelis Technologies (Information Technology).   
The top detractors from relative performance included an underweight position in R1 RCM (Healthcare) and overweight positions in Inspire Medical Systems (Healthcare) and Chart Industries (Industrials). Shares of R1 RCM fell during the period after the company reported third quarter earnings missed expectations. Lower incentive fees, payor challenges and lower operating fees due to weak volumes drove the underperformance. Management of R1 RCM also lowered 2022 revenue and earnings before interest, taxes, depreciation, and amortization (EBITDA) guidance ranges. The company announced an abrupt CEO transition effective January 1, 2023. Shares of Inspire Medical Solutions rose during the period. The company had 84% revenue growth in the first quarter driven by utilization acceleration and raised 2023 revenue guidance. Inspire opened 68 new therapy centers in the U.S. and we believe that a large opportunity set in the market remains. The U.S. FDA also approved the therapy for patients over 13 with Down Syndrome and raised the label’s Apnea Hyopena Index and Body Mass Index limits. The share price of Chart Industries, an Energy equipment company, fell after announcing a $4.4B deal to acquire Howden, a gas equipment company. Chart industries introduced a new preferred share class to help finance the deal. Top absolute detractors for the period included Chart Industries (Industrials), R1 RCM (Healthcare), and Livent (Materials). 
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, U.S. labor markets continue to demonstrate underlying strength, with unemployment levels still below 4% and year over year increases in hourly wages continuing to show growth in the 4% range. An upward surprise in the Job Openings and Labor Turnover (JOLTS) report in August 2023 has further fueled the sense of heightened labor bargaining power, evidenced in increasing union activism and resultant strikes such as those seen at the United Auto Workers and elsewhere. Observable strength in the economy caused the Fed at its most recent meeting to raise its projections for growth in 2023 and 2024 from prior levels, while also seeming to justify its current stance to maintain interest rates at higher levels.
The resumption of student debt servicing began October 1, 2023 and we believe this serves as an additional stressor to a U.S. consumer that has balanced solid wage growth with dwindling excess savings, record-low housing affordability, and the cumulative impact being felt in myriad ways in their daily lives from the higher rate environment. We
believe fourth quarter spending trends in the all-important holiday season will bear watching as this may provide a key indicator into consumer confidence and spending intentions heading into 2024.
The U.S. Congress avoided a government shutdown through the passing of a 45-day funding bill, but the risk of a shutdown in mid-November 2023 looms. The ousting of former Speaker Kevin McCarthy has created uncertainty, not only in Republican leadership, but also in the fixed income market, with Treasury yields as of the end of the period exceeding those witnessed in the ’08-‘09 financial crisis. We believe heightened concern around elevated deficits might not yet lead to constructive discussion, compromise and resolution within Congress, but the increased risk is being met with an increased wariness in the bond market.
Outside of the U.S., the persistent war in Europe, a new conflict in the Middle East, and the continuing weakness in the Chinese economy remain top-of-mind concerns for the markets.
At the end of the period, the Fund’s largest overweights were to the Industrials, Information Technology, and Consumer Discretionary sectors, while the Fund’s largest underweights were to the Consumer Staples, Utilities, and Healthcare 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 10/31/2023
Sector Percentage
of Net Assets
Equity Securities  
Communication Services 1.9%
Consumer Discretionary 11.7
Consumer Staples 2.6
Energy 5.8
Financials 7.5
Health Care 20.3
Industrials 21.4
Information Technology 22.1
Materials 3.8
Real Estate 1.7
Total 98.8%
Short-Term Investments 1.6
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.

28


Hartford Small Cap Value Fund
 Fund Overview
 October 31, 2023 (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 (10/31/2013 - 10/31/2023)
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 10/31/2023
  1 Year 5 Years 10 Years
Class A1 -4.16% 4.65% 5.34%
Class A2 -9.43% 3.48% 4.75%
Class C1 -4.94% 3.87% 4.56%
Class C3 -5.80% 3.87% 4.56%
Class I1 -3.94% 4.99% 5.63%
Class R31 -4.35% 4.51% 5.15%
Class R41 -4.08% 4.75% 5.43%
Class R51 -3.80% 5.08% 5.75%
Class R61 -3.63% 5.18% 5.84%
Class Y1 -3.77% 5.11% 5.80%
Class F1 -3.66% 5.17% 5.73%
Russell 2000 Value Index -9.93% 3.26% 5.20%
    
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 10/31/2023, 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.
 

29


Hartford Small Cap Value Fund
 Fund Overview – (continued)
 October 31, 2023 (Unaudited) 

Operating Expenses* Gross Net
Class A 1.29% 1.29%
Class C 2.10% 2.05%
Class I 0.98% 0.98%
Class R3 1.57% 1.50%
Class R4 1.26% 1.20%
Class R5 0.97% 0.90%
Class R6 0.85% 0.80%
Class Y 0.96% 0.85%
Class F 0.85% 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 02/29/2024 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 10/31/2023.

 
Portfolio Manager
Sean Kammann
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 Value Fund returned -4.16%, before sales charges, for the twelve-month period ended October 31, 2023, outperforming the Fund’s benchmark, the Russell 2000 Value Index, which returned -9.93% for the same period. For the same period, the Class A shares of the Fund, before sales charges, underperformed the -4.00% 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, as measured by the S&P 500 Index, rose over the trailing twelve-month period ending October 31, 2023. Greater optimism that the U.S. Federal Reserve (Fed) would begin to scale back its aggressive pace of interest rate increases, along with outsized short covering and hedging, helped to fuel a sharp rebound in stocks in November 2022 before risk sentiment waned in December 2022 amid recession fears, macroeconomic challenges, and downside earnings risks in the coming quarters.  U.S. equity markets rallied in the first quarter of 2023. The sudden collapse of two U.S. regional banks prompted swift policy actions by federal regulators, which helped stabilize liquidity and stem the potential for broader contagion. The turmoil generated more uncertainty about the U.S. economic outlook, as investors dealt to assess the impact of tightening credit conditions and the path of interest rates and inflation. As the period went on, a narrow group of mega-cap technology companies rallied as they benefited from investor optimism about their earnings potential
and growth prospects and exuberance surrounding generative artificial intelligence. Markedly stronger-than-forecast first-quarter corporate earnings and improving earnings prospects bolstered market sentiment.
U.S. equities were later pressured by surging Treasury yields amid firming views that the Fed will keep interest rates elevated for a prolonged period. Even as household budgets were strained by tightening credit conditions and lofty prices, markets dialed back the probability of recession as cooling inflation, a solid job market, and resilient consumer spending increased the potential that the U.S. economy could achieve a “soft landing”. 
During the period, returns varied by market capitalization. Large-cap equities, as measured by the S&P 500 Index, outperformed 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.
Seven of the eleven sectors in the Russell 2000 Value Index declined during the period, with the Healthcare (-30%), Financials (-20%), and Communication Services (-19%) sectors lagging the most. Conversely, the Energy (+13%), Industrials (+5%), and Consumer Discretionary (+3%) sectors were the top performers.
Security selection contributed positively while sector allocation slightly detracted from the Fund performance relative to the Russell 2000 Value Index over the period. Strong selection in the Financials, Information Technology, and Industrials sectors contributed positively to relative results. This was partially offset by weaker selection in the Materials and Real Estate sectors. Sector allocation, a result of the bottom-up stock selection process, detracted from relative
 

30


Hartford Small Cap Value Fund
 Fund Overview – (continued)
 October 31, 2023 (Unaudited) 

performance during the period, due to the Fund’s underweight position in the Energy sector and overweight positions in the Financials and Consumer Staples sectors.
The largest contributors to relative performance over the period were positions in Greenhill (Financials), PROG Holdings (Financials), and InterDigital (Information Technology). Shares of U.S.-based investment bank Greenhill rose during the period after Mizuho Financial Group announced it will acquire Greenhill for $550 million. We eliminated the position in Greenhill by the end of the period. Shares of fintech company PROG Holdings rose as the company delivered quarterly results above consensus expectations throughout the period. The company's CEO has credited their active management of lease portfolios and customers' ability to adapt to a higher inflationary environment to be the primary catalysts to strong earnings in 2023. Shares of InterDigital, a wireless and video technology research and development company, rose during the period. The company reached license arbitration agreement with Samsung and won a cellular patent litigation against Lenovo in January 2023, driving exceptional first quarter 2023 financial results and providing a strong recurring revenue base.
The largest detractors from relative performance during the period were positions in PRA Group (Financials), First Interstate BancSystem (Financials), and Pacific Premier Bancorp (Financials). Shares of business services company PRA Group fell during the period after first-quarter 2023 results missed consensus estimates. Total cash collections declined 14.5% year-over-year, due primarily to a 30.2% decrease in U.S. call center and other collections, which was driven by lower levels of portfolio purchases. Shares of regional bank company First Interstate BancSystem fell as the company continuously failed to meet quarterly earnings expectations and lowered revenue guidance twice over the period.  The collapse of Silicon Valley Bank in the first quarter of 2023 further adversely affected the market's confidence in First Interstate BancSystem's ability to weather the downturn. Pacific Premier Bancorp was also negatively affected by the regional bank failures.
Derivatives were not used in the Fund during the period and did not have impact on performance during the period.
What is the outlook as of the end of the period?
As of the end of the period, we believe indications continue to point to a more economically challenging period ahead, but as with all before it, this will again prove temporary in our view. We believe these economic adjustments present investment opportunities for the Fund.
At the end of the period, the Fund was most overweight to the Consumer Discretionary, Financials, and Information Technology sectors, and most underweight to the Real Estate, Energy, and Materials 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 10/31/2023
Sector Percentage
of Net Assets
Equity Securities  
Communication Services 1.4%
Consumer Discretionary 19.3
Consumer Staples 3.3
Energy 5.2
Financials 32.0
Health Care 8.5
Industrials 14.7
Information Technology 7.5
Materials 2.5
Real Estate 3.0
Utilities 1.9
Total 99.3%
Short-Term Investments 0.2
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.

31


The Hartford Small Company Fund
 Fund Overview
 October 31, 2023 (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 (10/31/2013 - 10/31/2023)
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 10/31/2023
  1 Year 5 Years 10 Years
Class A1 -8.59% 4.80% 5.99%
Class A2 -13.62% 3.62% 5.39%
Class C1 -9.40% 3.96% 5.18%
Class C3 -10.30% 3.96% 5.18%
Class I1 -8.36% 5.12% 6.27%
Class R31 -8.94% 4.50% 5.73%
Class R41 -8.60% 4.83% 6.06%
Class R51 -8.38% 5.13% 6.37%
Class R61 -8.24% 5.23% 6.46%
Class Y1 -8.40% 5.13% 6.41%
Class F1 -8.26% 5.24% 6.37%
Russell 2000 Growth Index -7.63% 2.68% 5.67%
    
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 10/31/2023, 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 1.27% 1.27%
Class C 2.10% 2.10%
Class I 0.99% 0.99%
Class R3 1.59% 1.59%
Class R4 1.29% 1.29%
Class R5 0.99% 0.99%
Class R6 0.87% 0.87%
Class Y 0.95% 0.95%
Class F 0.87% 0.87%
    
* 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 10/31/2023.
 

32


The Hartford Small Company Fund
 Fund Overview – (continued)
 October 31, 2023 (Unaudited) 


 
Portfolio Manager
Ranjit Ramachandran, CFA
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 Company Fund returned -8.59%, before sales charges, for the twelve-month period ended October 31, 2023, underperforming the Fund’s benchmark, the Russell 2000 Growth Index, which returned -7.63% for the same period. For the same period, the Class A shares of the Fund, before sales charges, underperformed the -6.21% 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, as measured by the S&P 500 Index, rose over the trailing twelve-month period ending October 31, 2023. Greater optimism that the U.S. Federal Reserve (Fed) would begin to scale back its aggressive pace of interest rate increases, along with outsized short covering and hedging, helped to fuel a sharp rebound in stocks in November before risk sentiment waned in December amid recession fears, macroeconomic challenges, and downside earnings risks in the coming quarters.
U.S. equity markets surged higher in the first quarter of 2023. The sudden collapse of two U.S. regional banks prompted swift policy actions by federal regulators, which helped stabilize liquidity and stem the potential for broader contagion. The turmoil generated more uncertainty about the U.S. economic outlook, as investors dealt to assess the impact of tightening credit conditions and the path of interest rates and inflation. As the period went on, a narrow group of mega-cap technology companies rallied as they benefited from investor optimism about their earnings potential and growth prospects and exuberance surrounding generative artificial intelligence. Markedly stronger-than-forecast first-quarter corporate earnings and improving earnings prospects bolstered market sentiment.
U.S. equities were later pressured by rising Treasury yields amid firming views that the Fed will keep interest rates elevated for a prolonged period. Even as household budgets were strained by tightening credit conditions and lofty prices, markets dialed back the probability of recession as cooling inflation, a solid job market, and resilient consumer spending increased the potential that the U.S. economy could achieve a “soft landing”.
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.
Narrowing the focus to small caps, growth led value by more than +200 basis points (bps) over the trailing year, as measured by the Russell 2000 Value and Growth Indices.
Eight of the eleven sectors in the Russell 2000 Growth Index had negative returns during the period. The Consumer Staples (+10%) sector moved higher in the period, while Healthcare (-18%), Utilities (-18%), and Materials (-13%) sectors lagged the broader index.
During the period, the Fund underperformed relative to the Russell 2000 Growth Index. Selection in the Information Technology, Materials, and Financials sectors detracted from relative performance, partially offset by stronger selection in the Consumer Staples, Consumer Discretionary, and Real Estate sectors. Sector allocation, a result of our bottom-up stock selection process, also detracted from relative performance, primarily driven by the Fund’s underweight allocation to the Information Technology sector. This was partially offset by the Fund’s lack of exposure to the Utilities sector, which contributed positively.
The top detractors from relative performance during the period included Calix (Information Technology), R1 RCM (Healthcare), and not holding Super Micro Computer (Information Technology). Calix is a telecommunications company that offers cloud -based software systems and services to support the delivery of broadband services. The share price declined early in the period as supply chain challenges weighed on the company’s near-term operational efficiency. The Fund maintained an overweight position to end the period. R1 RCM, a provider of technology-driven solutions that enhance the patient experience and financial performance of Healthcare providers, saw its share price drop early in the period after reporting third-quarter earnings that fell short of expectations. The underperformance was driven by lower incentive fees, payor challenges, and reduced operating fees due to weak volumes. Given concerns about R1 RCM’s capacity to onboard new customers onto their revenue cycle management platform, we sold the position in the Fund during the period and reallocated assets to other opportunities with a more attractive risk-reward profile in our view.  Shares of Super Micro Computer, which was not held, ended the period higher after the U.S.-based information technology solutions provider reported better-than-expected fiscal third-quarter results. Shares were further supported by market's optimistic outlook on artificial intelligence. Top absolute detractors from the Fund’s performance for the period included Calix (Information Technology) and R1 RCM (Healthcare).
By contrast, some of the top contributors to relative performance included elf Beauty (Consumer Staples), Manhattan Associates (Information Technology), and Celsius Holdings (Consumer Staples). elf Beauty’s share price rose after surpassing consensus estimates on
 

33


The Hartford Small Company Fund
 Fund Overview – (continued)
 October 31, 2023 (Unaudited) 

both the top and bottom-line metrics for four consecutive periods. Sales growth was driven by strong performance in the Cosmetics and Skincare segments across retail and e-commerce channels, while gross margin growth was supported by price increases and an improved product mix. The company also significantly raised its 2023 sales guidance and announced the acquisition of Naturium Skincare, a skincare company with a sizable presence at notable department stores. The share price of Manhattan Associates, a provider of warehouse management and supply chain software, rose in the period. The company posted solid results driven by strong retention rates and customer migration to the cloud. We trimmed the Fund’s position on strength during the period. Celsius Holdings concluded the period on a positive note, posting robust revenue growth for consecutive periods and exceeding consensus estimates in their May and August 2023 releases. The management team attributed this success to increased consumer awareness and broader availability of the drink.  The Fund maintained overweight positions in all three holdings to end the period. Top absolute contributors to the Fund’s performance for the period included elf Beauty (Consumer Staples) and Celsius Holdings (Consumer Staples).
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?
Following a strong up market in the first half of 2023, U.S. equities fell during the third quarter amidst a broad market sell off, reflecting broadening concerns over the impact of high rates on the cost of capital for companies and the consumer, as well as the impact of the Fed’s “higher for longer” interest rate stance. Market moves continue to be driven by investors weighing the impact of persistent inflation, recession, and the Fed’s reaction function. We believe inconsistent macroeconomic indicators will drive market volatility and uncertainty around Fed policy in the near term but expect inflation to remain structurally higher for longer. In this environment, we are seeking balance by holding a mixture of emerging and re-emerging growth companies. 
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.  We are keeping a close eye on competitive dynamics and evidence of impact from economic slowdown. 
At the end of the period, the Fund’s largest overweights were to the Industrials, Consumer Discretionary, and Communication Services sectors, while the Fund’s largest underweights were to the Information Technology, Financials, and Utilities 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. 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. 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 10/31/2023
Sector Percentage
of Net Assets
Equity Securities  
Communication Services 3.9%
Consumer Discretionary 13.2
Consumer Staples 4.6
Energy 5.8
Financials 4.4
Health Care 21.4
Industrials 23.3
Information Technology 16.2
Materials 3.0
Real Estate 3.1
Total 98.9%
Short-Term Investments 0.8
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.
  

34


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.
 

35


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, 2023 through October 31, 2023. 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, 2023
  Ending
Account Value
October 31, 2023
  Expenses paid
during the period
May 1, 2023
through
October 31, 2023
  Beginning
Account Value
May 1, 2023
  Ending
Account Value
October 31, 2023
  Expenses paid
during the period
May 1, 2023
through
October 31, 2023
  Annualized
expense
ratio
The Hartford Capital Appreciation Fund
Class A $ 1,000.00   $  976.30   $  5.23   $ 1,000.00   $ 1,019.91   $  5.35   1.05%
Class C $ 1,000.00   $  972.60   $  9.10   $ 1,000.00   $ 1,015.98   $  9.30   1.83%
Class I $ 1,000.00   $  977.60   $  3.89   $ 1,000.00   $ 1,021.27   $  3.97   0.78%
Class R3 $ 1,000.00   $  974.30   $  7.07   $ 1,000.00   $ 1,018.05   $  7.22   1.42%
Class R4 $ 1,000.00   $  975.90   $  5.43   $ 1,000.00   $ 1,019.71   $  5.55   1.09%
Class R5 $ 1,000.00   $  977.70   $  3.94   $ 1,000.00   $ 1,021.22   $  4.02   0.79%
Class R6 $ 1,000.00   $  978.10   $  3.49   $ 1,000.00   $ 1,021.68   $  3.57   0.70%
Class Y $ 1,000.00   $  977.40   $  4.04   $ 1,000.00   $ 1,021.12   $  4.13   0.81%
Class F $ 1,000.00   $  977.90   $  3.49   $ 1,000.00   $ 1,021.68   $  3.57   0.70%
Hartford Core Equity Fund
Class A $ 1,000.00   $ 1,004.80   $  3.54   $ 1,000.00   $ 1,021.68   $  3.57   0.70%
Class C $ 1,000.00   $ 1,001.10   $  7.32   $ 1,000.00   $ 1,017.90   $  7.38   1.45%
Class I $ 1,000.00   $ 1,006.00   $  2.28   $ 1,000.00   $ 1,022.94   $  2.29   0.45%
Class R3 $ 1,000.00   $ 1,002.90   $  5.45   $ 1,000.00   $ 1,019.76   $  5.50   1.08%
Class R4 $ 1,000.00   $ 1,004.90   $  3.54   $ 1,000.00   $ 1,021.68   $  3.57   0.70%
Class R5 $ 1,000.00   $ 1,006.20   $  2.33   $ 1,000.00   $ 1,022.89   $  2.35   0.46%
Class R6 $ 1,000.00   $ 1,006.40   $  1.82   $ 1,000.00   $ 1,023.39   $  1.84   0.36%
Class Y $ 1,000.00   $ 1,006.20   $  2.17   $ 1,000.00   $ 1,023.04   $  2.19   0.43%
Class F $ 1,000.00   $ 1,006.50   $  1.82   $ 1,000.00   $ 1,023.39   $  1.84   0.36%

36


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

  Actual Return   Hypothetical (5% return before expenses)
  Beginning
Account Value
May 1, 2023
  Ending
Account Value
October 31, 2023
  Expenses paid
during the period
May 1, 2023
through
October 31, 2023
  Beginning
Account Value
May 1, 2023
  Ending
Account Value
October 31, 2023
  Expenses paid
during the period
May 1, 2023
through
October 31, 2023
  Annualized
expense
ratio
The Hartford Dividend and Growth Fund
Class A $ 1,000.00   $  980.30   $  4.79   $ 1,000.00   $ 1,020.37   $  4.89   0.96%
Class C $ 1,000.00   $  976.90   $  8.62   $ 1,000.00   $ 1,016.48   $  8.79   1.73%
Class I $ 1,000.00   $  981.70   $  3.65   $ 1,000.00   $ 1,021.53   $  3.72   0.73%
Class R3 $ 1,000.00   $  978.70   $  6.68   $ 1,000.00   $ 1,018.45   $  6.82   1.34%
Class R4 $ 1,000.00   $  980.00   $  5.19   $ 1,000.00   $ 1,019.96   $  5.30   1.04%
Class R5 $ 1,000.00   $  981.80   $  3.55   $ 1,000.00   $ 1,021.63   $  3.62   0.71%
Class R6 $ 1,000.00   $  982.50   $  3.15   $ 1,000.00   $ 1,022.03   $  3.21   0.63%
Class Y $ 1,000.00   $  981.90   $  3.60   $ 1,000.00   $ 1,021.58   $  3.67   0.72%
Class F $ 1,000.00   $  982.50   $  3.15   $ 1,000.00   $ 1,022.03   $  3.21   0.63%
The Hartford Equity Income Fund
Class A $ 1,000.00   $  960.50   $  4.84   $ 1,000.00   $ 1,020.27   $  4.99   0.98%
Class C $ 1,000.00   $  956.80   $  8.58   $ 1,000.00   $ 1,016.43   $  8.84   1.74%
Class I $ 1,000.00   $  960.80   $  3.71   $ 1,000.00   $ 1,021.42   $  3.82   0.75%
Class R3 $ 1,000.00   $  958.60   $  6.71   $ 1,000.00   $ 1,018.35   $  6.92   1.36%
Class R4 $ 1,000.00   $  959.70   $  5.29   $ 1,000.00   $ 1,019.81   $  5.45   1.07%
Class R5 $ 1,000.00   $  961.00   $  3.71   $ 1,000.00   $ 1,021.37   $  3.82   0.75%
Class R6 $ 1,000.00   $  961.70   $  3.21   $ 1,000.00   $ 1,021.93   $  3.31   0.65%
Class Y $ 1,000.00   $  961.30   $  3.61   $ 1,000.00   $ 1,021.53   $  3.72   0.73%
Class F $ 1,000.00   $  961.80   $  3.21   $ 1,000.00   $ 1,021.93   $  3.31   0.65%
The Hartford Growth Opportunities Fund
Class A $ 1,000.00   $ 1,040.30   $  5.55   $ 1,000.00   $ 1,019.76   $  5.50   1.08%
Class C $ 1,000.00   $ 1,036.00   $  9.49   $ 1,000.00   $ 1,015.83   $  9.40   1.85%
Class I $ 1,000.00   $ 1,041.60   $  4.22   $ 1,000.00   $ 1,021.07   $  4.18   0.82%
Class R3 $ 1,000.00   $ 1,038.60   $  7.35   $ 1,000.00   $ 1,018.00   $  7.27   1.43%
Class R4 $ 1,000.00   $ 1,040.10   $  5.81   $ 1,000.00   $ 1,019.51   $  5.75   1.13%
Class R5 $ 1,000.00   $ 1,041.40   $  4.43   $ 1,000.00   $ 1,020.87   $  4.38   0.86%
Class R6 $ 1,000.00   $ 1,042.20   $  3.81   $ 1,000.00   $ 1,021.48   $  3.77   0.74%
Class Y $ 1,000.00   $ 1,041.70   $  4.17   $ 1,000.00   $ 1,021.12   $  4.13   0.81%
Class F $ 1,000.00   $ 1,042.00   $  3.81   $ 1,000.00   $ 1,021.48   $  3.77   0.74%
The Hartford Healthcare Fund
Class A $ 1,000.00   $  920.10   $  6.15   $ 1,000.00   $ 1,018.80   $  6.46   1.27%
Class C $ 1,000.00   $  916.60   $  9.80   $ 1,000.00   $ 1,014.92   $ 10.31   2.03%
Class I $ 1,000.00   $  921.40   $  4.84   $ 1,000.00   $ 1,020.11   $  5.09   1.00%
Class R3 $ 1,