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: 811-22610

THE HARTFORD ALTERNATIVE STRATEGIES FUND

(Exact name of registrant as specified in charter)

5 Radnor Corporate Center, Suite 300, 100 Matsonford Road, Radnor, Pennsylvania 19087

(Address of Principal Executive Offices) (Zip Code)

Edward P. Macdonald, Esquire

Hartford Funds Management Company, LLC

5 Radnor Corporate Center, Suite 300

100 Matsonford Road

Radnor, Pennsylvania 19087

(Name and Address of Agent for Service)

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

Date of fiscal year end: October 31

Date of reporting period: October 31, 2015

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

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

Item 1. Reports to Stockholders.

The Hartford Alternative Strategies Fund

Table of Contents

Fund Performance and Manager Discussion (Unaudited)	2
Expense Example (Unaudited)	4
Financial Statements:
Schedule of Investments	5
Statement of Assets and Liabilities	13
Statement of Operations	14
Statement of Changes in Net Assets	15
Financial Highlights	16
Notes to Financial Statements	17
Report of Independent Registered Public Accounting Firm	32
Trustees and Officers (Unaudited)	33
How to Obtain a Copy of the Fund’s Proxy Voting Policies and Voting Records (Unaudited)	35
Quarterly Portfolio Holdings Information (Unaudited)	35
Federal Tax Information (Unaudited)	36
Approval of Investment Management and Investment Sub-Advisory Agreements (Unaudited)	37
Main Risks (Unaudited)	41

The views expressed in the Fund’s Manager Discussion under “Why did the Fund perform this way?” and “What is the outlook?” are views of the Fund’s sub-adviser and portfolio management team through the end of the period and are subject to change based on market and other conditions. The 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.

The Hartford Alternative Strategies Fund inception 09/30/2011

(sub-advised by Wellington Management Company LLP) Investment objective – The Fund seeks to outperform the Consumer Price Index (CPI) over a full market cycle while maintaining a low correlation to the broad equity markets.

The chart above represents the hypothetical growth of a $10,000 investment in Class Y.

Average Annual Total Returns (as of 10/31/15)

	1 Year		Since Inception1
Alternative Strategies Y2		-4.46%		0.08%
Bank of America Merrill Lynch USD 3-Month LIBOR Index		0.26%		0.32%

¹  Inception: 09/30/2011

²  Without sales charge

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. Current performance may be lower or higher than the performance data quoted.

Total returns presented above were calculated using the Fund’s net asset value available to shareholders for sale or redemption of Fund shares on October 31, 2015, which may exclude investment transactions as of this date. Returns assume the reinvestment of all distributions at net asset value and the deduction of all fund expenses.

Bank of America Merrill Lynch USD 3-Month LIBOR Index represents the London interbank offered rate (LIBOR) with a constant 3-month average maturity. LIBOR is a composite of the rates of interest at which banks borrow from one another in the London market.

You cannot invest directly in an index.

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.

Performance information may reflect historical or current expense waivers/reimbursements from the investment adviser, without which performance would have been lower. For information on current expense waivers/reimbursements, please see the prospectus.

Performance information includes performance under the Fund’s previous sub-adviser, Hartford Investment Management Company. As of June 4, 2012, Hartford Investment Management Company no longer served as the sub-adviser to the Fund.

All investments are subject to risk including the possible loss of principal. For a discussion of the Fund’s risks, please see the Main Risks section of this report. For more detailed information on the risks associated with an investment in the Fund, please see the prospectus.

2

The Hartford Alternative Strategies Fund

Manager Discussion

October 31, 2015 (Unaudited)

Portfolio Managers

Richard A. Wurster, CFA, CMT

Managing Director and Asset Allocation Portfolio Manager

Wellington Management Company LLP

Stephen A. Gorman, CFA

Senior Managing Director and Director of Tactical Asset Allocation

Wellington Management Company LLP

How did the Fund perform during the period?

The Class Y shares of The Hartford Alternative Strategies Fund returned -4.46% for the twelve-month period ending October 31, 2015, underperforming the Fund’s benchmark, the Bank of America Merrill Lynch USD 3-Month LIBOR Index which returned 0.26% for the same period.

Why did the Fund perform this way?

The Fund seeks to outperform the Consumer Price Index (CPI) over a full market cycle while maintaining a low correlation to the broad equity markets. The Fund can invest in different asset classes, including equities, fixed income, currencies, and commodities. Underperformance relative to the Bank of America Merrill Lynch USD 3-Month LIBOR Index during the period was driven primarily by positions in global bonds, in particular a long exposure to Greek bonds as well a short exposure to Japanese nominal bonds. This was partially offset by positive performance in the Fund’s U.K. Gilt holdings. The Fund’s tactical beta exposure to European equities, implemented via futures, and exposure to broad market commodities through ETFs were also detractors from performance relative to the Bank of America Merrill Lynch USD 3-Month LIBOR Index. Our exposure to U.S. TIPs and currency hedged Mexican inflation-linked bonds contributed positively to performance relative to the Bank of America Merrill Lynch USD 3-Month LIBOR Index over the period. Also, our long position in the USD versus a basket of other currencies meaningfully contributed to relative performance. Currency positions are implemented using currency forwards.

As described above, derivatives were integral to the management of the Fund and had an impact on performance.

What is the outlook?

We believe that the trend in equity markets has turned down and as a result, we have significantly reduced our equity exposure, as we do not believe stocks are undervalued. The exposure we do have remains concentrated in Europe and Japan where we believe valuations are reasonable, central banking policy remains easy, and fundamental data is holding up. We continue to see what appear to be attractive return opportunities in both Mexican inflation linked bonds and U.S. inflation linked bonds. Though the portfolio has

limited exposure to commodities, we see potential opportunities in that sector as we believe commodities are now inexpensive.

Credit Exposure

as of October 31, 2015

Credit Rating*	Percentage of Net Assets
Aaa/AAA		14.6	%
A		11.9
Baa/BBB		0.8
Caa/CCC or Lower		0.7
Not Rated		0.5
Non-Debt Securities and Other Short-Term Instruments		58.4
Other Assets & Liabilities		13.1
Total		100.0	%

* Credit exposure is the long-term credit ratings for the Fund’s holdings, as of the date noted, as provided by Standard and Poor’s (S&P) or Moody’s Investors Service (Moody’s) and typically range from AAA/Aaa (highest) to C/D (lowest). Presentation of S&P and Moody’s credit ratings in this report have been selected for informational purposes for shareholders, as well as the Fund’s consideration of industry practice. If Moody’s and S&P assign different ratings, the lower rating is used. Fixed income securities that are not rated by either agency are listed as “Not Rated.” Ratings do not apply to the Fund itself or to the Fund’s shares. Ratings may change.

Diversification by Security Type

as of October 31, 2015

Category	Percentage of Net Assets
Equity Securities
Common Stocks		10.3	%
Convertible Preferred Stocks		0.7
Exchange Traded Funds		7.9
Warrants		0.0
Total		18.9	%
Fixed Income Securities
Convertible Bonds		1.2	%
Foreign Government Obligations		15.7
U.S. Government Securities		11.6
Total		28.5	%
Short-Term Investments		38.4	%
Purchased Options		1.1
Other Assets & Liabilities		13.1
Total		100.0	%

3

The Hartford Alternative Strategies Fund

Expense Example (Unaudited)

Your Fund’s Expenses

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs and (2) ongoing costs, including investment management fees and other fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the 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, 2015 through October 31, 2015.

Actual Expenses

The first set of columns of the table below provides information about actual account values and actual expenses. You may use the information in this column, 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 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 the 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 the 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 applicable transactional costs. Therefore, the second set of columns of the table are 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 are equal to the Fund’s annualized expense ratios 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, 2015		Ending Account Value October 31, 2015		Expenses Paid During the Period May 1, 2015 through October 31, 2015		Beginning Account Value May 1, 2015		Ending Account Value October 31, 2015		Expenses Paid During the Period May 1, 2015 through October 31, 2015		Annualized Expense Ratio			Days in the Current 1/2 Year		Days in the Full Year
Class Y	$	1,000.00	$	948.60	$	3.19	$	1,000.00	$	1,021.93	$	3.31		0.65	%		184		365

4

The Hartford Alternative Strategies Fund

Schedule of Investments

October 31, 2015

Shares or Principal Amount				Market Value†
FOREIGN GOVERNMENT OBLIGATIONS - 15.7%
			Australia - 3.0%
	AUD $	3,575,358	Australia Government Bond 2.00%, 08/21/2035 (1)(2)	$	2,985,909
			Mexico - 11.9%
	MXN	172,064,544	Mexican Udibonos 4.50%, 11/22/2035 (2)		11,956,974
			South Africa - 0.8%
	ZAR	9,256,952	South Africa Government Bond - CPI Linked 5.50%, 12/07/2023 (2)		856,203
			Total Foreign Government Obligations (cost $17,847,218)	$	15,799,086
U.S. GOVERNMENT SECURITIES - 11.6%
			U.S. Treasury Securities - 11.6%
			U.S. Treasury Bonds - 11.6%
	$	3,368,983	0.63%, 02/15/2043 (2)	$	2,901,011
		8,487,580	1.38%, 02/15/2044 (2)		8,794,482
					11,695,493
			Total U.S. Government Securities (cost $11,554,623)	$	11,695,493
COMMON STOCKS - 10.3%
			Banks - 3.2%
		96,632	Alpha Bank A.E.*	$	12,320
		18,168	BNP Paribas S.A.		1,100,930
		158,900	Mitsubishi UFJ Financial Group, Inc.		1,027,690
		67,711	Piraeus Bank S.A.*		6,991
		22,565	Societe Generale S.A.		1,047,991
					3,195,922
			Capital Goods - 0.3%
		130,580	Ellaktor S.A.*		256,660
			Commercial & Professional Services - 0.3%
		11,986	Heidrick & Struggles International, Inc.		318,348
			Consumer Durables & Apparel - 1.0%
		38,733	PanaHome Corp.		275,629
		40,947	Sekisui House Ltd.		681,621
					957,250
			Consumer Services - 0.0%
		3,760	OPAP S.A.		33,416
			Diversified Financials - 0.5%
		59,492	Hellenic Exchanges - Athens Stock Exchange S.A. Holding		340,607
		53,990	Uranium Participation Corp.*		209,750
					550,357
			Energy - 1.4%
		35,294	Japan Petroleum Exploration Co., Ltd.		1,059,245
		24,274	Motor Oil Hellas Corinth Refineries S.A.*		299,521
					1,358,766
			Real Estate - 3.6%
		20,075	Grand City Properties S.A.		400,625
		133,674	Grivalia Properties REIC A.E.		1,218,276
		440,339	Immobiliare Grande Distribuzione SIIQ S.p.A. REIT		439,631

Shares or Principal Amount				Market Value†
COMMON STOCKS - 10.3% - (continued)
			Real Estate - 3.6% - (continued)
		48,606	Vonovia SE	$	1,620,229
					3,678,761
			Total Common Stocks (cost $10,636,039)	$	10,349,480
CONVERTIBLE BONDS - 1.2%
			Energy-Alternate Sources - 0.5%
			SunEdison, Inc.
	$	362,000	0.25%, 01/15/2020 (3)	$	191,634
		237,000	2.00%, 10/01/2018		180,120
		231,000	2.75%, 01/01/2021		162,277
					534,031
			Oil & Gas - 0.7%
		1,126,000	Cobalt International Energy, Inc. 3.13%, 05/15/2024		724,159
			Total Convertible Bonds (cost $1,956,000)	$	1,258,190
EXCHANGE TRADED FUNDS - 7.9%
			Other Investment Pools & Funds - 7.9%
		52,100	PowerShares DB Gold Fund*	$	1,948,540
		341,900	PowerShares DB Oil Fund*		3,962,621
		47,200	SPDR S&P Regional Banking ETF		2,021,576
			Total Exchange Traded Funds (cost $7,960,953)	$	7,932,737
CONVERTIBLE PREFERRED STOCKS - 0.7%
			Semiconductors & Semiconductor Equipment - 0.7%
		1,000	SunEdison, Inc. Series A, 6.75%	$	674,430
			Total Convertible Preferred Stocks (cost $1,000,000)	$	674,430
WARRANTS - 0.0%
			Banks - 0.0%
		1,000,222	Alpha Bank A.E. , Expires 12/10/17*	$	27,497
		2,382,267	Piraeus Bank S.A. , Expires 01/02/18*		18,338
			Total Warrants (cost $987,700)	$	45,835
			Total Long-Term Investments (cost $51,942,533)	$	47,755,251

The accompanying notes are an integral part of these financial statements.

5

The Hartford Alternative Strategies Fund

Schedule of Investments – (continued)

October 31, 2015

Shares or Principal Amount			Market Value†
SHORT-TERM INVESTMENTS - 38.4%
		Other Investment Pools & Funds - 38.4%
	38,752,818	BlackRock Liquidity Funds TempFund Portfolio	$	38,752,818
		Total Short-Term Investments (cost $38,752,818)	$	38,752,818

Total Investments Excluding Purchased Options (cost $90,695,351)	85.8	%	$	86,508,069
Total Purchased Options (cost $1,938,919)	1.1	%	$	1,192,910
Total Investments (cost $92,634,270) ^	86.9	%	$	87,700,979
Other Assets and Liabilities	13.1	%		13,180,311
Total Net Assets	100.0	%	$	100,881,290

The accompanying notes are an integral part of these financial statements.

6

The Hartford Alternative Strategies Fund

Schedule of Investments – (continued)

October 31, 2015

Note: Percentage of investments as shown is the ratio of the total market value to total net assets.

Prices of foreign equities that are principally traded on certain foreign markets may be adjusted daily pursuant to a fair value pricing service approved by the Board of Trustees in order to reflect an adjustment for factors occurring after the close of certain foreign markets but before the close of the New York Stock Exchange.

The Fund may refer to any one or more of the industry classifications used by one or more widely recognized market indices, ratings group indices and/or as defined by Fund management. Industry classifications may not be identical across all security types.

Other than the industry classifications “Other Investment Pools & Funds” and “Exchange Traded Funds,” equity industry classifications used in this report are the Global Industry Classification Standard, which was developed by and is the exclusive property and service mark of MSCI, Inc. and Standard & Poor’s.

For Fund compliance purposes, the Fund may not use the same classification system shown in this report as these classifications are used for financial reporting purposes.

^ At October 31, 2015, the cost of securities for federal income tax purposes was $91,499,507 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	789,525
Unrealized Depreciation		(4,588,053	)
Net Unrealized Depreciation	$	(3,798,528	)

* Non-income producing.

⁽¹⁾  This security was sold to the Fund under Regulation S, rules governing offers and sales made outside the United States without registration under the Securities Act of 1933, as amended. The Fund may only be able to resell this security in the United States if an exemption from registration under the federal and state securities laws is available, or the Fund may only be able to sell this security outside of the United States (such as on a foreign exchange) to a non-U.S. person. Unless otherwise indicated, this holding is determined to be liquid. At October 31, 2015, the aggregate value of this security was $2,985,909, which represents 3.0% of total net assets.

⁽²⁾ The principal amount for these securities is adjusted for inflation and the interest payments equal a fixed percentage of the inflation-adjusted principal amount.

⁽³⁾  Securities issued within terms of a private placement memorandum, exempt from registration under Rule 144A under the Securities Act of 1933, as amended, and may be sold only to qualified institutional buyers. Unless otherwise indicated, this holding is determined to be liquid. At October 31, 2015, the aggregate value of this security was $191,634, which represents 0.2% of total net assets.

OTC Option Contracts Outstanding at October 31, 2015
Description	Counter- party	Exercise Price/ FX Rate/Rate		Expiration Date		Number of Contracts				Market Value  †			Premiums Paid (Received) by Fund			Unrealized Appreciation/ (Depreciation)
Purchased option contracts:
Calls
Euro STOXX 50 Index Option	GSC		3,550.00 EUR		12/16/16		EUR	2,659		$	538,065		$	786,738		$	(248,673	)
FTSE/MIB Index Option	JPM		23,000.00 EUR		12/16/16		EUR	87			140,931			166,416			(25,485	)
FTSE/MIB Index Option	MSC		24,000.00 EUR		12/16/16		EUR	407			485,126			811,026			(325,900	)
Total Calls								3,153		$	1,164,122		$	1,764,180		$	(600,058	)
Puts
USD Put/JPY Call	BNP		118.82 USD per JPY		11/12/15		USD	4,954,530		$	6,272		$	52,716		$	(46,444	)
USD Put/NOK Call	GSC		7.33 USD per NOK		04/11/16		USD	8,893,012			8,279			33,882			(25,603	)
Total Puts								13,847,542		$	14,551		$	86,598		$	(72,047	)
Total purchased option contracts								13,850,695		$	1,178,673		$	1,850,778		$	(672,105	)
Written option contracts:
Calls
FTSE/MIB Index Option	JPM		30,000.00 EUR		12/16/16		EUR	(87	)	$	(10,217	)	$	(25,139	)	$	14,922
Total written option contracts								(87	)	$	(10,217	)	$	(25,139	)	$	14,922

The accompanying notes are an integral part of these financial statements.

7

The Hartford Alternative Strategies Fund

Schedule of Investments – (continued)

October 31, 2015

Exchange Traded Option Contracts Outstanding at October 31, 2015
Description	Exercise Price/ FX Rate/Rate		Expiration Date		Number of Contracts				Market Value  †			Premiums Paid (Received) by Fund			Unrealized Appreciation/ (Depreciation)
Purchased option contracts:
Calls
Russell 2000 Index Option		1,500.00 USD		12/16/16		USD	17		$	5,950		$	41,787		$	(35,837	)
S&P 500 Index Option		2,600.00 USD		12/16/16		USD	51			8,287			46,354			(38,067	)
Total Calls							68		$	14,237		$	88,141		$	(73,904	)
Total purchased option contracts							68		$	14,237		$	88,141		$	(73,904	)
Written option contracts:
Calls
Russell 2000 Index Option		1,250.00 USD		12/16/16		USD	(17	)	$	(85,850	)	$	(170,033	)	$	84,183
S&P 500 Index Option		2,100.00 USD		12/16/16		USD	(50	)		(635,000	)		(788,568	)		153,568
S&P 500 Index Option		2,075.00 USD		12/16/16		USD	(50	)		(672,000	)		(727,348	)		55,348
Total Calls							(117	)	$	(1,392,850	)	$	(1,685,949	)	$	293,099
Total written option contracts							(117	)	$	(1,392,850	)	$	(1,685,949	)	$	293,099

Futures Contracts Outstanding at October 31, 2015
Description	Number of Contracts		Expiration Date		Notional Amount		Market Value  †		Unrealized Appreciation/ (Depreciation)
Long position contracts:
Australian 10-Year Bond Future		4		12/15/2015	$	367,111	$	368,991	$	1,880
DAX Index Future		1		12/18/2015		279,739		297,442		17,703
Euro STOXX 50 Future		164		12/18/2015		5,769,455		6,137,060		367,605
FTSE/MIB Index Future		85		12/18/2015		10,058,052		10,488,300		430,248
IBEX 35 Index Future		2		11/20/2015		221,046		226,202		5,156
KOSPI 200 Index Future		29		12/10/2015		3,051,788		3,194,948		143,160
Long Gilt Future		7		12/29/2015		1,279,305		1,270,663		(8,642	)
NIKKEI 225 Index Future		34		12/10/2015		5,069,705		5,378,802		309,097
OMXS30 Index Future		8		11/20/2015		137,238		140,082		2,844
TOPIX Index Future		7		12/10/2015		856,496		904,077		47,581
U.S. Treasury 10-Year Note Future		117		12/21/2015		14,945,721		14,939,438		(6,283	)
U.S. Treasury Ultra Long Term Bond Future		2		12/21/2015		317,566		319,500		1,934
Total									$	1,312,283
Short position contracts:
Australian SPI 200 Index Future		66		12/17/2015	$	5,959,522	$	6,160,756	$	(201,234	)
BIST 30 Index Future		1,303		12/31/2015		4,420,653		4,481,660		(61,007	)
CAC 40 Index Future		13		11/20/2015		658,080		699,834		(41,754	)
Canadian Government 10-Year Bond Future		19		12/18/2015		2,057,495		2,041,526		15,969
EAFE (mini MSCI) Index Future		102		12/18/2015		4,409,347		4,302,870		106,477
Euro BUXL 30-Year Bond Future		3		12/08/2015		520,902		520,311		591
Euro-Bund Future		29		12/08/2015		4,973,587		5,013,405		(39,818	)
FTSE 100 Index Future		30		12/18/2015		2,792,110		2,922,872		(130,762	)
FTSE China A50 Index Future		58		11/27/2015		591,789		580,435		11,354
FTSE KLCI Future		179		11/30/2015		3,525,904		3,464,583		61,321
FTSE/JSE Top 40 Future Index		153		12/17/2015		4,869,684		5,390,102		(520,418	)
Japan 10-Year Bond Future		20		12/14/2015		24,523,079		24,622,524		(99,445	)
Mexican Stock Exchange Index Future		10		12/18/2015		263,181		269,352		(6,171	)
Russell 2000 Mini Index Future		30		12/18/2015		3,414,382		3,474,900		(60,518	)
S&P 500 (E-Mini) Future		36		12/18/2015		3,576,551		3,732,660		(156,109	)
S&P/TSX 60 Index Future		44		12/17/2015		5,256,875		5,332,762		(75,887	)
SGX CNX Nifty Index Future		17		11/26/2015		282,666		274,618		8,048
Total									$	(1,189,363	)
Total futures contracts									$	122,920

The accompanying notes are an integral part of these financial statements.

8

The Hartford Alternative Strategies Fund

Schedule of Investments – (continued)

October 31, 2015

OTC Total Return Swap Contracts Outstanding at October 31, 2015
Reference Entity	Counter- party	Notional Amount				Payments received (paid) by the Fund	Expiration Date		Market Value †			Unrealized Appreciation/ (Depreciation)
BMF Ibovespa Volatility Index	BOA		BRL	5,077,086		Bovespa Index		12/16/15	$	77,509		$	77,509
BMF Ibovespa Volatility Index	BOA		BRL	3,733,531		Bovespa Index		12/16/15		29,848			29,848
Dow Jones Wilshire REIT Total Return Index	BOA		USD	1,663,190		1M LIBOR + 0.15%		08/31/16		(13	)		(13	)
Financials Select Sector NTR	BOA		USD	(3,118,119	)	(1M LIBOR + 0.30%)		09/30/16		—			—
Industrial Select Sector SPDR	BOA		USD	3,086,878		1M LIBOR + 0.05%		04/29/16		—			—
Industrial Select Sector SPDR	BOA		USD	2,100,086		1M LIBOR - 0.05%		04/29/16		—			—
Industrial Select Sector SPDR	BOA		USD	1,264,762		1M LIBOR - 0.05%		04/29/16		—			—
Industrial Select Sector SPDR	BOA		USD	992,056		1M LIBOR - 0.05%		04/29/16		—			—
Technology Select Sector Index	BOA		USD	(2,421,047	)	(1M LIBOR + 0.12%)		04/29/16		—			—
Technology Select Sector Index	MSC		USD	(1,044,806	)	(1M LIBOR + 0.50%)		04/29/16		—			—
Total									$	107,344		$	107,344

Foreign Currency Contracts Outstanding at October 31, 2015
Currency	Buy/Sell	Delivery Date		Counterparty	Contract Amount		Market Value  †		Unrealized Appreciation/ (Depreciation)
AUD	Buy		11/19/15	DEUT	$	1,490,081	$	1,466,112	$	(23,969	)
AUD	Sell		11/19/15	BOA		7,257,865		7,164,568		93,297
AUD	Sell		11/19/15	GSC		106,512		104,722		1,790
AUD	Sell		11/19/15	RBS		250,570		250,051		519
BRL	Buy		11/04/15	BOA		85,049		86,751		1,702
BRL	Buy		11/04/15	SCB		86,812		86,750		(62	)
BRL	Sell		11/04/15	BOA		86,812		86,751		61
BRL	Sell		11/04/15	SCB		83,044		86,751		(3,707	)
BRL	Sell		11/19/15	BOA		84,545		86,301		(1,756	)
CAD	Buy		11/19/15	RBS		1,041,325		1,044,531		3,206
CAD	Buy		11/19/15	BOA		1,075,856		1,078,941		3,085
CHF	Sell		11/19/15	RBS		502,350		500,061		2,289
CHF	Sell		11/19/15	BOA		107,252		105,276		1,976
CLP	Buy		11/19/15	BOA		212,446		212,775		329
CLP	Sell		11/19/15	GSC		106,390		105,480		910
CNH	Buy		01/28/16	JPM		1,032,917		1,038,238		5,321
CNH	Buy		09/30/16	SSG		962,787		972,294		9,507
CNH	Sell		11/19/15	BCLY		500,546		506,321		(5,775	)
CNH	Sell		01/28/16	BOA		1,069,283		1,038,239		31,044
CNH	Sell		09/30/16	GSC		233,584		234,761		(1,177	)
CNH	Sell		09/30/16	SSG		241,692		242,957		(1,265	)
CNH	Sell		09/30/16	BOA		482,375		494,576		(12,201	)
CNY	Buy		11/19/15	SSG		962,787		994,101		31,314
CNY	Sell		11/19/15	SSG		241,693		248,407		(6,714	)
COP	Sell		11/19/15	BOA		105,980		107,297		(1,317	)
CZK	Buy		11/19/15	BOA		108,209		106,318		(1,891	)
CZK	Sell		11/19/15	GSC		106,403		106,319		84
EUR	Buy		11/19/15	BOA		352,307		346,470		(5,837	)
EUR	Buy		11/30/15	CBK		485,622		487,327		1,705
EUR	Sell		11/19/15	BOA		10,120,727		9,953,060		167,667
EUR	Sell		11/19/15	BOA		1,993,256		1,963,334		29,922
EUR	Sell		11/19/15	RBS		752,974		747,937		5,037
EUR	Sell		11/19/15	CBK		141,667		140,788		879
EUR	Sell		11/19/15	GSC		99,820		100,092		(272	)
EUR	Sell		11/19/15	CBK		485,541		487,259		(1,718	)
EUR	Sell		11/19/15	HSBC		2,254,178		2,266,909		(12,731	)
EUR	Sell		11/30/15	CBK		498,615		487,327		11,288
GBP	Buy		11/19/15	CBK		492,611		496,337		3,726
GBP	Buy		11/30/15	CBK		497,447		496,305		(1,142	)
GBP	Sell		11/19/15	BOA		220,378		220,423		(45	)

The accompanying notes are an integral part of these financial statements.

9

The Hartford Alternative Strategies Fund

Schedule of Investments – (continued)

October 31, 2015

Foreign Currency Contracts Outstanding at October 31, 2015 - (continued)
Currency	Buy/Sell	Delivery Date		Counterparty	Contract Amount		Market Value  †		Unrealized Appreciation/ (Depreciation)
GBP	Sell		11/19/15	RBS	$	249,945	$	251,251	$	(1,306	)
GBP	Sell		11/30/15	CBK		492,577		496,305		(3,728	)
HUF	Sell		11/19/15	BOA		211,423		208,332		3,091
IDR	Buy		11/19/15	SCB		107,772		107,062		(710	)
INR	Buy		11/19/15	SCB		784,455		779,584		(4,871	)
JPY	Buy		11/19/15	SCB		4,164,089		4,152,456		(11,633	)
JPY	Sell		11/19/15	SCB		2,780,124		2,772,358		7,766
JPY	Sell		11/19/15	SSG		1,993,481		1,990,210		3,271
KRW	Buy		11/19/15	GSC		108,033		107,315		(718	)
MXN	Buy		11/19/15	GSC		105,327		105,369		42
MXN	Sell		11/19/15	BCLY		209,873		211,161		(1,288	)
MXN	Sell		11/19/15	SCB		12,076,647		12,092,956		(16,309	)
MYR	Buy		11/19/15	SCB		313,219		310,041		(3,178	)
NZD	Sell		11/19/15	BOA		579,044		577,470		1,574
PHP	Sell		11/16/15	SCB		973,376		969,000		4,376
PLN	Sell		11/19/15	SCB		1,172,847		1,159,107		13,740
SEK	Buy		11/19/15	SCB		212,479		208,897		(3,582	)
SEK	Buy		11/19/15	RBS		1,004,166		990,035		(14,131	)
SGD	Sell		11/19/15	RBS		250,441		248,957		1,484
SGD	Sell		11/19/15	SCB		108,170		107,715		455
TRY	Buy		11/19/15	GSC		99,883		98,915		(968	)
TRY	Buy		11/19/15	SCB		223,714		221,024		(2,690	)
ZAR	Buy		11/19/15	SCB		113,879		110,701		(3,178	)
ZAR	Sell		11/19/15	SCB		253,690		246,610		7,080
Total									$	299,668

^†  See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of investments.

GLOSSARY: (abbreviations used in preceding Schedule of Investments)
Counterparty Abbreviations:
BCLY	Barclays
BNP	BNP Paribas Securities Services
BOA	Banc of America Securities LLC
CBK	Citibank NA
DEUT	Deutsche Bank Securities, Inc.
GSC	Goldman Sachs & Co.
HSBC	HSBC Bank USA
JPM	JP Morgan Chase & Co.
MSC	Morgan Stanley
RBS	RBS Greenwich Capital
SCB	Standard Chartered Bank
SSG	State Street Global Markets LLC

Currency Abbreviations:
AUD	Australian Dollar
BRL	Brazilian Real
CAD	Canadian Dollar
CHF	Swiss Franc
CLP	Chilean Peso
CNH	Chinese Renminbi
CNY	Chinese Yuan
COP	Colombian Peso
CZK	Czech Koruna
EUR	Euro
GBP	British Pound
HUF	Hungarian Forint
IDR	Indonesian Rupiah
INR	Indian Rupee
JPY	Japanese Yen
KRW	South Korean Won
MXN	Mexican Peso
MYR	Malaysian Ringgit
NOK	Norwegian Krone
NZD	New Zealand Dollar
PHP	Philippine Peso
PLN	Polish Zloty
SEK	Swedish Krona
SGD	Singapore Dollar
TRY	Turkish Lira
USD	United States Dollar
ZAR	South African Rand

The accompanying notes are an integral part of these financial statements.

10

The Hartford Alternative Strategies Fund

Schedule of Investments – (continued)

October 31, 2015

GLOSSARY: (abbreviations used in preceding Schedule of Investments) - (continued)
Index Abbreviations:
BIST	Borsa Istanbul 100 Index
CAC	Cotation Assistee en Continu
CPI	Consumer Price Index
DAX	Deutscher Aktien Index
FTSE	Financial Times and Stock Exchange
IBEX	Spanish Stock Index
JSE	Johannesburg Stock Exchange
KLCI	Kuala Lumpur Composite Index
KOSPI	Korea Composite Stock Price
MIB	Milano Italia Borsa
MSCI	Morgan Stanley Capital International
OMXS	Nordic Stock Exchange
S&P	Standard & Poors
SGX	Singapore Exchange
TSX	Toronto Stock Exchange

Other Abbreviations:
ETF	Exchange Traded Fund
LIBOR	London Interbank Offered Rate
OTC	Over-the-Counter
REIC	Real Estate Investment Company
REIT	Real Estate Investment Trust
SPDR	Standard & Poor’s Depositary Receipt

The accompanying notes are an integral part of these financial statements.

11

The Hartford Alternative Strategies Fund

Schedule of Investments – (continued)

October 31, 2015

Fair Valuation Summary

The following is a summary of the fair valuations according to the inputs used as of October 31, 2015 in valuing the Fund’s investments.

	Total			Level 1 (1)			Level 2 (1)			Level 3
Assets
Foreign Government Obligations	$	15,799,086		$	—		$	15,799,086		$	—
U.S. Government Securities		11,695,493			—			11,695,493			—
Common Stocks
Banks		3,195,922			—			3,195,922			—
Capital Goods		256,660			—			256,660			—
Commercial & Professional Services		318,348			318,348			—			—
Consumer Durables & Apparel		957,250			—			957,250			—
Consumer Services		33,416			—			33,416			—
Diversified Financials		550,357			209,750			340,607			—
Energy		1,358,766			—			1,358,766			—
Real Estate		3,678,761			—			3,678,761			—
Convertible Bonds		1,258,190			—			1,258,190			—
Exchange Traded Funds		7,932,737			7,932,737			—			—
Convertible Preferred Stocks		674,430			—			674,430			—
Warrants		45,835			45,835			—			—
Short-Term Investments		38,752,818			38,752,818			—			—
Purchased Options		1,192,910			1,178,359			14,551			—
Foreign Currency Contracts (2)		449,537			—			449,537			—
Futures Contracts (2)		1,530,968			1,530,968			—			—
Swaps - Total Return (2)		107,357			—			107,357			—
Total	$	89,788,841		$	49,968,815		$	39,820,026		$	—
Liabilities
Foreign Currency Contracts (2)	$	(149,869	)	$	—		$	(149,869	)	$	—
Futures Contracts (2)		(1,408,048	)		(1,408,048	)		—			—
Swaps - Total Return (2)		(13	)		—			(13	)		—
Written Options		(1,403,067	)		(1,403,067	)		—			—
Total	$	(2,960,997	)	$	(2,811,115	)	$	(149,882	)	$	—

⁽¹⁾  For the year ended October 31, 2015, investments valued at $5,795,489 were transferred from Level 1 to Level 2, and there were no transfers from Level 2 to Level 1. Investments are transferred between Level 1 and Level 2 for a variety of reasons including, but not limited to:

a) Foreign equities for which a fair value price is more representative of exit value than the local market close (transfer into Level 2). Foreign equities for which the local market close is more representative of exit value (transfer into Level 1).

b) U.S. Treasury securities that no longer represent the most recent issue (transfer into Level 2).

c) Equity investments with no observable trading but a bid or mean price is used (transfer into Level 2). Equity investments using observable quoted prices in an active market (transfer into Level 1).

⁽²⁾  Derivative instruments (excluding purchased and written options, if applicable) are valued at the unrealized appreciation/depreciation on the investments.

Note: For purposes of reporting transfers between different hierarchy levels, both transfers in and out of each level, as applicable, are shown as if they occurred at the beginning of the period.

The accompanying notes are an integral part of these financial statements.

12

The Hartford Alternative Strategies Fund

Statement of Assets and Liabilities

October 31, 2015

Assets:
Investments in securities, at market value	$	87,700,979
Cash collateral due from broker		14,869,965
Unrealized appreciation on foreign currency contracts		449,537
Unrealized appreciation on OTC swap contracts		107,357
Receivables:
Investment securities sold		17,222
Fund shares sold		9,941
Dividends and interest		319,756
Variation margin on financial derivative instruments		122,212
Total assets		103,596,969
Liabilities:
Unrealized depreciation on foreign currency contracts		149,869
Bank overdraft - foreign cash		255,229
Unrealized depreciation on OTC swap contracts		13
Cash collateral due to broker		532,364
Payables:
Investment securities purchased		279,810
Fund shares redeemed		10,547
Investment management fees		62,131
Written options		1,403,067
Accrued expenses		22,649
Total liabilities		2,715,679
Net assets	$	100,881,290
Summary of Net Assets:
Capital stock and paid-in-capital	$	104,545,860
Undistributed (distributions in excess of) net investment income		(143,350	)
Accumulated net realized gain (loss)		585,439
Unrealized appreciation (depreciation) of investments and the translation of assets and liabilities denominated in foreign currency		(4,106,659	)
Net assets	$	100,881,290
Class Y:     Net asset value per share	$	9.23
Shares outstanding		10,928,383
Net Assets	$	100,881,290
Cost of investments	$	92,634,270
Cost of bank overdraft - foreign cash	$	257,388
Proceeds of written option contracts	$	1,711,088

The accompanying notes are an integral part of these financial statements.

13

The Hartford Alternative Strategies Fund

Statement of Operations

For the Year Ended October 31, 2015

Investment Income:
Dividends	$	345,655
Interest		1,113,245
Less: Foreign tax withheld		(24,450	)
Total investment income, net		1,434,450
Expenses:
Investment management fees		735,309
Transfer agent fees
Class Y		1,897
Custodian fees		14,699
Accounting services fees		24,510
Board of Trustees’ fees		4,227
Audit fees		20,202
Other expenses		10,664
Total expenses (before waivers and fees paid indirectly)		811,508
Management fee waivers		(14,755	)
Commission recapture		(206	)
Custodian fee offset		(2	)
Total waivers and fees paid indirectly		(14,963	)
Total expenses, net		796,545
Net Investment Income (Loss)		637,905
Net Realized Gain (Loss) on Investments, Other Financial Instruments and Foreign Currency Transactions:
Net realized gain (loss) on investments		(8,272,463	)
Net realized gain (loss) on purchased options contracts		(1,067,901	)
Net realized gain (loss) on futures contracts		545,927
Net realized gain (loss) on written options contracts		404,875
Net realized gain (loss) on swap contracts		(2,145,490	)
Net realized gain (loss) on foreign currency contracts		(2,379,403	)
Net realized gain (loss) on other foreign currency transactions		10,201,414
Net Realized Gain (Loss) on Investments, Other Financial Instruments and Foreign Currency Transactions		(2,713,041	)
Net Changes in Unrealized Appreciation (Depreciation) of Investments, Other Financial Instruments and Foreign Currency Transactions:
Net unrealized appreciation (depreciation) of investments		(1,861,376	)
Net unrealized appreciation (depreciation) of purchased options contracts		(717,490	)
Net unrealized appreciation (depreciation) of futures contracts		426,011
Net unrealized appreciation (depreciation) of written options contracts		308,021
Net unrealized appreciation (depreciation) of swap contracts		910,224
Net unrealized appreciation (depreciation) of foreign currency contracts		(1,169,501	)
Net unrealized appreciation (depreciation) of translation of other assets and liabilities in foreign currencies		1,192
Net Changes in Unrealized Appreciation (Depreciation) of Investments, Other Financial Instruments and Foreign Currency Transactions		(2,102,919	)
Net Gain (Loss) on Investments, Other Financial Instruments and Foreign Currency Transactions		(4,815,960	)
Net Increase (Decrease) in Net Assets Resulting from Operations	$	(4,178,055	)

The accompanying notes are an integral part of these financial statements.

14

The Hartford Alternative Strategies Fund

Statement of Changes in Net Assets

	For the Year Ended October 31, 2015			For the Year Ended October 31, 2014
Operations:
Net investment income (loss)	$	637,905		$	1,004,765
Net realized gain (loss) on investments, other financial instruments and foreign currency transactions		(2,713,041	)		(5,415,131	)
Net changes in unrealized appreciation (depreciation) of investments, other financial instruments and foreign currency transactions		(2,102,919	)		3,324,432
Net Increase (Decrease) in Net Assets Resulting from Operations		(4,178,055	)		(1,085,934	)
Distributions to Shareholders:
From net investment income
Class Y		—			(351,511	)
Total from net investment income		—			(351,511	)
From net realized gain on investments
Class Y		(801,819	)		(1,244,251	)
Total from net realized gain on investments		(801,819	)		(1,244,251	)
Total distributions		(801,819	)		(1,595,762	)
Capital Share Transactions:
Sold		20,242,719			42,577,343
Issued on reinvestment of distributions		801,819			1,595,762
Redeemed		(47,886,316	)		(295,288,432	)
Net decrease from capital share transactions		(26,841,778	)		(251,115,327	)
Net Increase (Decrease) in Net Assets		(31,821,652	)		(253,797,023	)
Net Assets:
Beginning of period		132,702,942			386,499,965
End of period	$	100,881,290		$	132,702,942
Undistributed (distributions in excess of) net investment income	$	(143,350	)	$	(3,722,333	)

The accompanying notes are an integral part of these financial statements.

15

The Hartford Alternative Strategies Fund

Financial Highlights

	— Selected Per-Share Data(1) —																								— Ratios and Supplemental Data —
Class	Net Asset Value at Beginning of Period		Net Invest ment Income (Loss)		Net Realized and Unrealized Gain (Loss) on Invest ments			Total from Invest ment Opera tions			Dividends from Net Invest ment Income			Distri butions from Realized Gains			Total Dividends and Distri butions			Net Asset Value End of Period		Total Return(2)			Net Assets at End of Period (000s)		Ratio of Expenses to Average Net Assets Before Adjust- ments(3)			Ratio of Expenses to Average Net Assets After Adjust- ments(3)			Ratio of Net Invest ment Income (Loss) to Average Net Assets			Portfolio Turnover
The Hartford Alternative Strategies Fund
For the Year Ended October 31, 2015
Y	$	9.72	$	0.05	$	(0.48	)	$	(0.43	)	$	—		$	(0.06	)	$	(0.06	)	$	9.23		(4.46	)%	$	100,881		0.66	%		0.65	%		0.52	%		103	%
For the Year Ended October 31, 2014
Y	$	10.04	$	0.05	$	(0.31	)	$	(0.26	)	$	(0.01	)	$	(0.05	)	$	(0.06	)	$	9.72		(2.58	)%	$	132,703		0.66	%		0.65	%		0.46	%		95	%
For the Year Ended October 31, 2013
Y	$	10.75	$	0.02	$	(0.14	)	$	(0.12	)	$	(0.16	)	$	(0.43	)	$	(0.59	)	$	10.04		(1.24	)%	$	386,500		0.65	%		0.65	%		0.16	%		149	%
For the Year Ended October 31, 2012(4)
Y	$	10.96	$	0.16	$	(0.21	)	$	(0.05	)	$	(0.13	)	$	(0.03	)	$	(0.16	)	$	10.75		(0.41	)%	$	263,358		0.66	%		0.65	%		1.43	%		178	%
For the Period Ended October 31, 2011(4)
Y(5)	$	10.00	$	0.02	$	0.94		$	0.96		$	—		$	—		$	—		$	10.96		9.60	%(6)	$	260,580		0.65	%(7)		0.65	%(7)		2.11	%(7)		5	%

⁽¹⁾  Information presented relates to a share outstanding throughout the indicated period. Net investment income (loss) per share amounts are calculated based on average shares outstanding unless otherwise noted.

⁽²⁾  Assumes initial investment at net asset value at the beginning of each period, reinvestment of all distributions, the complete redemption of the investment at net asset value at the end of each period and no sales charge. Total return would be reduced if sales charges were taken into account.

⁽³⁾  Adjustments include waivers and reimbursements, if applicable. Ratios do not include fees paid indirectly (see Expenses in the accompanying Notes to Financial Statements).

⁽⁴⁾  Net investment income (loss) per share amounts have been calculated using the Securities and Exchange Commission method.

⁽⁵⁾  Commenced operations on September 30, 2011.

⁽⁶⁾  Not annualized.

⁽⁷⁾  Annualized.

The accompanying notes are an integral part of these financial statements.

16

The Hartford Alternative Strategies Fund

Notes to Financial Statements

October 31, 2015

1. Organization:

The Hartford Alternative Strategies Fund (the “Fund”) is a Delaware statutory trust and is registered with the Securities and Exchange Commission (the “SEC”) under the Investment Company Act of 1940, as amended (the “1940 Act”). However, beneficial interests in the Fund are not registered under the Securities Act of 1933, as amended (the “1933 Act”), because such interests are issued solely in private placement transactions that do not involve any “public offering” within the meaning of Section 4(2) of the 1933 Act. Investments in the Fund may only be made by “accredited investors” within the meaning of Regulation D under the 1933 Act. The Fund is authorized to issue an unlimited number of shares with a par value of $0.001 each. The Fund is a diversified open-end management investment company. The Fund applies specialized accounting and reporting under Accounting Standards Codification Topic 946, “Financial Services – Investment Companies.”

Class Y shares of the Fund, which are offered only for investment by other Hartford Funds and/or by 529 Plan investment funds, are sold without a sales charge.

2. Significant Accounting Policies:

The following is a summary of significant accounting policies of the Fund used in the preparation of its financial statements, which are in accordance with United States generally accepted accounting principles (“U.S. GAAP”). The preparation of financial statements in accordance with U.S. GAAP may require management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates.

a) Determination of Net Asset Value – The per share net asset value (“NAV”) of the Fund’s shares is determined as of the close of regular trading (normally 4:00 p.m. Eastern Time) (the “NYSE Close”) on each day that the New York Stock Exchange (the “Exchange”) is open (“Valuation Date”). Information that becomes known to the Fund after the NAV has been calculated on a particular day will not generally be used to retroactively adjust the NAV determined earlier that day.

b) Investment Valuation and Fair Value Measurements – For purposes of calculating the NAV, portfolio investments and other assets held by the Fund’s portfolio for which market quotes are readily available are valued at market value. Market value is generally determined on the basis of last reported sales prices or official close price. If no sales are reported, market value is based on quotes obtained from a quotation reporting system, established market makers, or independent pricing services. If market prices are not readily available or are deemed unreliable, the Fund will use the fair value of the investment as determined in good faith under policies and procedures established by and under the supervision of the Fund’s Board of Trustees. Market quotes are considered not readily available where there is an absence of current or reliable market-based data (e.g., trade information or indicative market quotes), including where events occur after the close of the relevant market, but prior to the NYSE Close, that materially affect the values of the Fund’s portfolio investments or assets. In addition, market quotes are considered not readily available when, due to extraordinary circumstances, the exchanges or markets on which the investments trade do not open for trading for the entire day and no other market prices are available. In addition, prices of foreign equities that are principally traded on certain foreign markets may be adjusted daily pursuant to a fair value pricing service approved by the Fund’s Board of Trustees in order to reflect an adjustment for the factors occurring after the close of certain foreign markets but before the NYSE Close. Investments that are primarily traded on foreign markets may trade on days that are not business days of the Fund. The value of the foreign investments in which the Fund invests may change on days when a shareholder will not be able to purchase or redeem shares of the Fund. Fair value pricing is subjective in nature and the use of fair value pricing by the Fund may cause the NAV of its shares to differ significantly from the NAV that would have been calculated using market prices at the close of the exchange on which a portfolio investment is primarily traded. There can be no assurance that the Fund could obtain the fair market value assigned to an investment if the Fund were to sell the investment at approximately the time at which the Fund determines its NAV.

Fixed income investments (other than short-term obligations), non-exchange traded derivatives and centrally cleared swaps held by the Fund are normally valued on the basis of quotes obtained from independent pricing services or brokers and dealers in accordance with procedures established by the Fund’s Board of Trustees. Prices obtained from independent pricing services use information provided by market makers or estimates of market values through accepted market modeling, trading and pricing conventions. Inputs to the models may include, but are not limited to, prepayment speeds, pricing spread, yield, trade information, dealer quotes, market color, cash flow models and the investment’s terms and conditions. Generally, the Fund may use fair valuation in regard to fixed income investments when the Fund holds defaulted or distressed investments or investments in a company in which a reorganization

17

The Hartford Alternative Strategies Fund

Notes to Financial Statements – (continued)

October 31, 2015

is pending. Short-term investments maturing in 60 days or less are generally valued at amortized cost, if their original term to maturity was 60 days or less, or by amortizing their value on the 61st day prior to maturity, if the original term to maturity exceeded 60 days, which approximates fair value.

Exchange traded options, futures and options on futures are valued at the settlement price or last trade price determined by the relevant exchange as of the NYSE Close. If the last trade price for exchange traded options does not fall between the bid and ask prices, the value will be the mean of the bid and ask prices as of the NYSE Close. If a last trade price is not available, the value will be the mean of the bid and ask prices as of the NYSE Close. If a mean of the bid and ask prices cannot be calculated for the day, the value will be the bid price as of the NYSE Close. In the case of over-the-counter (“OTC”) options and such instruments that do not trade on an exchange, values may be supplied by a pricing service using a formula or other objective method that may take into consideration the style, direction, expiration, strike price, notional value and volatility or other special adjustments.

Investments valued in currencies other than U.S. dollars are converted to U.S. dollars using exchange rates obtained from independent pricing services for calculation of the NAV. As a result, the NAV of the Funds’ shares may be affected by changes in the value of currencies in relation to the U.S. dollar. The value of investments traded in markets outside the United States or denominated in currencies other than the U.S. dollar may be affected significantly on a day that the NYSE is closed and the market value may change on days when an investor is not able to purchase, redeem or exchange shares of the Fund.

Foreign currency contracts represent agreements to exchange currencies on specific future dates at predetermined rates. Foreign currency contracts are valued using foreign currency exchange rates and forward rates as provided by an independent pricing service on the Valuation Date.

Financial instruments for which prices are not available from an independent pricing service may be valued using market quotations obtained from one or more dealers that make markets in the respective financial instrument in accordance with procedures established by the Fund’s Board of Trustees.

U.S. GAAP defines fair value as the price that the Fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants. The U.S. GAAP fair value measurement standards require disclosure of a fair value hierarchy for each major category of assets and liabilities. Various inputs are used in determining the fair value of the Fund’s investments. These inputs are summarized into three broad hierarchy levels. This hierarchy is based on whether the valuation inputs are observable or unobservable. These levels are:

• Level 1 – Quoted prices in active markets for identical investments. Level 1 may include exchange traded instruments, such as domestic equities, some foreign equities, options, futures, mutual funds, exchange traded funds, rights and warrants.

• Level 2 – Observable inputs other than Level 1 prices, such as quoted prices for similar investments; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 2 may include debt investments that are traded less frequently than exchange traded instruments and which are valued using independent pricing services; foreign equities, which are principally traded on certain foreign markets and are adjusted daily pursuant to a fair value pricing service in order to reflect an adjustment for the factors occurring after the close of certain foreign markets but before the NYSE Close; senior floating rate interests, which are valued using an aggregate of dealer bids; short-term investments, which are valued at amortized cost; and swaps, which are valued based upon the terms of each swap contract.

• Level 3 – Significant unobservable inputs that are supported by limited or no market activity. Level 3 may include financial instruments whose values are determined using indicative market quotes or require significant management judgment or estimation. These unobservable valuation inputs may include estimates for current yields, maturity/duration, prepayment speed, and indicative market quotes for comparable investments along with other assumptions relating to credit quality, collateral value, complexity of the investment structure, general market conditions and liquidity. This category may include investments where trading has been halted or there are certain restrictions on trading. While these investments are priced using unobservable inputs, the valuation of these investments reflects the best available data and management believes the prices are a reasonable representation of exit price.

The Board of Trustees of the Fund generally reviews and approves the “Procedures for Valuation of Portfolio Securities” at least once a year. These procedures define how investments are to be valued, including the formation and activities of a Valuation Committee. The Valuation Committee is responsible for determining in good faith the fair value of investments when the value cannot be obtained from primary pricing services or alternative sources or if the valuation of an investment as provided by the

18

The Hartford Alternative Strategies Fund

Notes to Financial Statements – (continued)

October 31, 2015

primary pricing service or alternative source is believed not to reflect the investment’s fair value as of the Valuation Date. Voting members of the Valuation Committee include the Fund’s Treasurer or designee and a Vice President of the investment manager or designee. A Vice President of the Fund with legal expertise or designee is also included on the Valuation Committee as a non-voting advisory member. In addition, the Fund’s Chief Compliance Officer shall designate a member of the compliance group to attend Valuation Committee meetings as a non-voting resource, to monitor for and provide guidance with respect to compliance with these procedures. Two members of the Valuation Committee or their designees, representing different departments, shall constitute a quorum for purposes of permitting the Valuation Committee to take action. The Valuation Committee will consider all relevant factors in determining an investment’s fair value, and may seek the advice of the Fund’s sub-adviser, knowledgeable brokers, and legal counsel in making such determination. The Valuation Committee reports to the Audit Committee of the Board of Trustees. The Audit Committee receives quarterly written reports which include details of all fair-valued investments, including the reason for the fair valuation, and an indication, when possible, of the accuracy of the valuation by disclosing the next available reliable public price quotation or the disposition price of such investments (the “look-back” test). The Board of Trustees of the Fund then must consider for ratification all of the fair value determinations made during the previous quarter.

Valuation levels are not necessarily indicative of the risk associated with investing in such investments. Individual investments within any of the above mentioned asset classes may be assigned a different hierarchical level than those presented above, as individual circumstances dictate.

For additional information, refer to the Fair Valuation Summary which follows the Schedule of Investments.

c) Investment Transactions and Investment Income – Investment transactions are recorded as of the trade date (the date the order to buy or sell is executed) for financial reporting purposes. Investments purchased or sold on a when-issued or delayed-delivery basis may be settled a month or more after the trade date. Realized gains and losses are determined on the basis of identified cost.

Dividend income from domestic securities is accrued on the ex-dividend date. In general, dividend income from foreign securities is recorded on the ex-date; however, dividend notifications in certain foreign jurisdictions may not be available in a timely manner and as a result, the Fund will record the dividend as soon as the relevant details (i.e., rate per share, payment date, shareholders of record, etc.) are publicly available. Interest income, including amortization of premium, accretion of discounts and additional principal received in-kind in lieu of cash, is accrued on a daily basis.

d) Foreign Currency Transactions – Assets and liabilities denominated in currencies other than U.S. dollars are translated into U.S. dollars at the exchange rates in effect on the Valuation Date. Purchases and sales of investments, income and expenses are translated into U.S. dollars at the exchange rates on the dates of such transactions.

The Fund does not isolate that portion of portfolio investment valuation resulting from fluctuations in the foreign currency exchange rates from the fluctuations arising from changes in the market prices of investments held. Exchange rate fluctuations are included with the net realized and unrealized gain or loss on investments in the accompanying financial statements.

Net realized foreign exchange gains or losses arise from sales of foreign currencies and the difference between asset and liability amounts initially stated in foreign currencies and the U.S. dollar value of the amounts actually received or paid. Net unrealized foreign exchange gains or losses arise from changes in the value of other assets and liabilities at the end of the reporting period, resulting from changes in the exchange rates.

e) Joint Trading Account – The Fund may invest cash balances into a joint trading account that may be invested in one or more repurchase agreements.

f) Fund Share Valuation and Dividend Distributions to Shareholders – Orders for the Fund’s shares are executed in accordance with the investment instructions of the shareholders. The NAV of the Fund’s shares is determined as of the close of business on each business day of the Exchange (See Note 2(a)). The NAV is determined by dividing the Fund’s net assets by the number of shares outstanding.

Orders for the purchase of the Fund’s shares received prior to the close of the Exchange on any day the Exchange is open for business are priced at the NAV determined as of the close of the Exchange. Orders received after the close of the Exchange, or on a day on which the Exchange and/or the Fund is not open for business, are priced at the next determined NAV.

19

The Hartford Alternative Strategies Fund

Notes to Financial Statements – (continued)

October 31, 2015

Dividends are declared pursuant to a policy adopted by the Fund’s Board of Trustees. Dividends and/or distributions to shareholders are recorded on ex-date. The policy of the Fund is to pay dividends from net investment income and realized gains, if any, at least once a year. Net investment income, dividends and distributions from net realized gains and capital are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP with respect to character and timing (see Federal Income Taxes: Distributions and Components of Distributable Earnings and Reclassification of Capital Accounts).

3. Securities and Other Investments:

a) Repurchase Agreements – A repurchase agreement is an agreement by which a counterparty agrees to sell an investment and agrees to repurchase the investment sold from the buyer at a mutually agreed upon time and price. During the period of the repurchase agreement, the counterparty will deposit cash and or securities in a third party custodial account to serve as collateral. At the time the Fund enters into a repurchase agreement, the value of the underlying collateral, including accrued interest, will be equal to or exceed the value of the repurchase agreement. Repurchase agreements expose the Fund to counterparty risk – that is, the risk that the counterparty will not fulfill its obligations. To minimize counterparty risk, the investments that serve to collateralize the repurchase agreement are held by the Fund’s custodian in book entry or physical form in the custodial account of the Fund or in a third party custodial account. Repurchase agreements are valued at cost plus accrued interest, which approximates fair value. Repurchase agreements have master netting arrangements which allow the Fund to offset amounts owed to a counterparty with amounts owed by the counterparty, including any collateral. Upon an event of default under a master repurchase agreement, the non-defaulting party may close out all transactions traded under such agreement and net amounts owed under each transaction to one net amount payable by one party to the other. Absent an event of default, the master repurchase agreement does not result in an offset of reported amounts of assets and liabilities in the Statement of Assets and Liabilities across transactions between the Fund and the applicable counterparty. The Fund had no outstanding repurchase agreements as of October 31, 2015.

b) Illiquid and Restricted Investments – The Fund is permitted to invest up to 15% of its net assets in illiquid investments. Illiquid investments are those that may not be sold or disposed of in the ordinary course of business within seven days, at approximately the price used to determine the Fund’s NAV. The Fund may not be able to sell illiquid investments when its sub-adviser considers it desirable to do so or may have to sell such investments at a price that is lower than the price that could be obtained if the investments were more liquid. A sale of illiquid investments may require more time and may result in higher dealer discounts and other selling expenses than does the sale of those that are liquid. Illiquid investments also may be more difficult to value due to the unavailability of reliable market quotations for such investments, and an investment in them may have an adverse impact on the Fund’s NAV. The Fund may also purchase certain restricted investments that can only be resold to certain qualified investors and may be determined to be liquid pursuant to policies and guidelines established by the Fund’s Board of Trustees. The Fund, as shown on the Schedule of Investments, had illiquid or restricted investments as of October 31, 2015.

c) Investments Purchased on a When-Issued or Delayed-Delivery Basis – Delivery and payment for investments that have been purchased by the Fund on a forward commitment, or when-issued or delayed-delivery basis, take place beyond the customary settlement period. The Fund may dispose of or renegotiate a delayed-delivery transaction after it is entered into, and may sell delayed-delivery investments before they are delivered, which may result in a realized gain or loss. During this period, such investments are subject to market fluctuations, and the Fund identifies investments segregated in its records with a value at least equal to the amount of the commitment. The Fund had no when-issued or delayed-delivery investments as of October 31, 2015.

d) Inflation Indexed Bonds – The Fund may invest in inflation indexed bonds. Inflation indexed bonds are fixed income investments whose principal value is periodically adjusted to the rate of inflation. The interest rate on these bonds is generally fixed at issuance at a rate lower than typical bonds. Over the life of an inflation indexed bond, however, interest will be paid based on a principal value, which is adjusted for inflation. Any increase or decrease in the principal amount of an inflation indexed bond will be included as interest income on the Statement of Operations, even though investors do not receive the principal amount until maturity. The Fund, as shown on the Schedule of Investments, had inflation indexed bonds as of October 31, 2015.

4. Financial Derivative Instruments:

The following disclosures contain information on how and why the Fund uses derivative instruments, the credit-risk-related contingent features in certain derivative instruments, and how derivative instruments affect the Fund’s financial position and results of operations. The location and fair value amounts of these instruments on the Statement of Assets and Liabilities and the realized gains and losses and

20

The Hartford Alternative Strategies Fund

Notes to Financial Statements – (continued)

October 31, 2015

changes in unrealized gains and losses on the Statement of Operations, each categorized by type of derivative contract, are included in the following Additional Derivative Instrument Information footnote. The derivative instruments outstanding as of year-end are disclosed in the notes to the Schedule of Investments, if applicable. The amounts of realized gains and losses and changes in unrealized gains and losses on derivative instruments during the year are disclosed in the Statement of Operations.

a) Foreign Currency Contracts – The Fund may enter into foreign currency contracts that obligate the Fund to purchase or sell currencies at specified future dates. Foreign currency contracts are used to hedge the currency exposure associated with some or all of the Fund’s investments and/or as part of an investment strategy. Foreign currency contracts are marked to market daily and the change in value is recorded by the Fund as an unrealized gain or loss. The Fund will record a realized gain or loss when the foreign currency contract is settled.

Foreign currency contracts involve elements of market risk in excess of the amounts reflected in the Statement of Assets and Liabilities. In addition, risks may arise upon entering into these contracts from the potential inability of the counterparties to meet the terms of the contracts and from unanticipated movements in the value of the foreign currencies relative to the U.S. dollar. The Fund, as shown on the Schedule of Investments, had outstanding foreign currency contracts as of October 31, 2015.

b) Futures Contracts – The Fund may enter into futures contracts. A futures contract is an agreement between two parties to buy or sell an asset at a set price on a future date. The Fund uses futures contracts to manage or obtain exposure to the investment markets, commodities, or movements in interest rates and currency values. The primary risks associated with the use of futures contracts are the imperfect correlation between the change in market value of the investments held by the Fund and the prices of futures contracts and the possibility of an illiquid market. Upon entering into a futures contract, the Fund is required to deposit with a futures commission merchant (“FCM”) an amount of cash or U.S. Government or Agency Obligations in accordance with the initial margin requirements of the broker or exchange. Futures contracts are marked to market daily at the most recent settlement price reported by an exchange on which, over time, they are traded most extensively, and an appropriate payable or receivable for the change in value (“variation margin”) is recorded by the Fund. Gains or losses are recognized but not considered realized until the contracts expire or are closed. Futures contracts involve, to varying degrees, risk of loss in excess of the variation margin disclosed on the Statement of Assets and Liabilities; however, the Fund seeks to reduce this risk through the use of an FCM. The Fund, as shown on the Schedule of Investments, had outstanding futures contracts as of October 31, 2015.

c) Options Contracts – An option contract is a contract sold by one party to another party that offers the buyer the right, but not the obligation, to buy (call) or sell (put) an investment or other financial asset at an agreed-upon price during a specific period of time or on a specific date. Options contracts are either privately negotiated in the over-the-counter market (“OTC options”) or executed in a registered exchange (“exchange traded options”). The Fund may write (sell) covered call and put options on futures, swaps (“swaptions”), securities, commodities or currencies. “Covered” means that so long as the Fund is obligated as the writer of an option, it will own either the underlying investments or currency or an option to purchase the same underlying investments or currency having an expiration date of the covered option and an exercise price equal to or less than the exercise price of the covered option, or will pledge cash or other liquid investments having a value equal to or greater than the fluctuating market value of the option investment or currency. Writing put options increases the Fund’s exposure to the underlying instrument. Writing call options decreases the Fund’s exposure to the underlying instrument. Premiums received from writing options that expire are treated as realized gains. Premiums received from writing options that are exercised or closed are added to the proceeds or offset amounts paid on the underlying futures, swap, investment or currency transaction to determine the realized gain or loss. The Fund as a writer of an option has no control over whether the underlying instrument may be sold (call) or purchased (put) and as a result bears the market risk of an unfavorable change in the price of the instrument underlying the written option. There is the risk the Fund may not be able to enter into a closing transaction because of an illiquid market. The Fund may also purchase put and call options. Purchasing call options increases the Fund’s exposure to the underlying instrument. Purchasing put options decreases the Fund’s exposure to the underlying instrument. The Fund pays a premium, which is included on the Fund’s Statement of Assets and Liabilities as an investment and is subsequently marked to market to reflect the current value of the option. Premiums paid for purchasing options that expire are treated as realized losses. Certain options may be purchased with premiums to be determined on a future date. The premiums for these options are based upon implied volatility parameters at specified terms. The risk associated with purchasing put and call options is generally limited to the premium paid. Premiums paid for purchasing options that are exercised or closed are added to the amounts paid or offset against the proceeds on the underlying investment transaction to determine the realized gain or loss. Entering into over-the-counter options also exposes the Fund to counterparty risk. Counterparty risk is the possibility that the counterparty to the agreements may default on its obligation to perform or disagree as to the meaning of the contractual terms in the agreements.

21

The Hartford Alternative Strategies Fund

Notes to Financial Statements – (continued)

October 31, 2015

The Fund, as shown on the Schedule of Investments, had outstanding purchased option and written option contracts as of October 31, 2015. Transactions involving written options contracts during the year October 31, 2015, are summarized below:

Options Activity During the Year Ended October 31, 2015

Call Options Written During the Year	Number of Contracts			Premium Amounts
Beginning of period		—		$	—
Written		6,108,723			3,711,610
Expired		(1,287	)		(42,177	)
Closed		(6,107,232	)		(1,958,345	)
Exercised		—			—
End of Period		204		$	1,711,088
Put Options Written During the Year	Number of Contracts			Premium Amounts
Beginning of period		—		$	—
Written		7,471			544,356
Expired		(1,691	)		(61,868	)
Closed		(5,780	)		(482,488	)
Exercised		—			—
End of Period		—		$	—

d) Swap Contracts – The Fund may invest in swap contracts. Swap contracts are agreements to exchange or swap investment cash flows, assets, foreign currencies or market-linked returns at specified, future intervals. Swap contracts are either privately negotiated in the over-the-counter market (“OTC swaps”) or cleared in a central clearing house (“centrally cleared swaps”). The Fund may enter into credit default, total return, cross-currency, interest rate, inflation and other forms of swap contracts to manage its exposure to credit, currency, interest rate, commodity and inflation risk. Swap contracts are also used to gain exposure to certain markets. In connection with these contracts, investments or cash may be identified as collateral or margin in accordance with the terms of the respective swap contracts and/or master netting arrangement to provide assets of value and recourse in the event of default or bankruptcy/insolvency.

Swaps are valued based on custom valuations furnished by an independent pricing service. Swaps for which prices are not available from an independent pricing service are valued in accordance with procedures established by the Fund’s Board of Trustees. Changes in market value, if any, are reflected as a component of net changes in unrealized appreciation or depreciation on the Statement of Operations. Daily changes in valuation of centrally cleared swaps, if any, are recorded as a receivable or payable for the change in value (“variation margin”) on the Statement of Assets and Liabilities. Realized gains or losses on centrally cleared swaps are recorded upon the termination of the swap. OTC swap payments received or paid at the beginning of the measurement period are reflected as such on the Statement of Assets and Liabilities and represent premiums paid or received upon entering into the swap contract to compensate for differences between the stated terms of the swap contract and prevailing market conditions (credit spreads, currency exchange rates, interest rates and other relevant factors). These upfront premiums are recorded as realized gains or losses on the Statement of Operations upon termination or maturity of the swap. A liquidation payment received or made at the termination or maturity of the swap is recorded as a realized gain or loss on the Statement of Operations. Net periodic payments received or paid by the Fund are included as part of realized gains or losses on the Statement of Operations.

Entering into these contracts involves, to varying degrees, elements of liquidation, counterparty, credit and market risk in excess of the amounts recognized on the Statement of Assets and Liabilities. Such risks involve the possibility that there will be no liquid market for these contracts, that the counterparty to the contracts may default on its obligation to perform or disagree as to the meaning of contractual terms in the contracts, and that there may be unfavorable changes in market conditions (credit spreads, currency exchange rates, interest rates and other relevant factors).

The Fund’s maximum risk of loss from counterparty risk for OTC swaps is the net value of the discounted cash flows to be received from the counterparty over the contract’s remaining life, and current market value, to the extent that amount is positive. The risk is mitigated by having a master netting arrangement between the Fund and the counterparty, which allows for the netting of payments made or received (although such amounts are presented on a gross basis within the Statement of Assets and Liabilities, as

22

The Hartford Alternative Strategies Fund

Notes to Financial Statements – (continued)

October 31, 2015

applicable) as well as the posting of collateral to the Fund to cover the Fund’s exposure to the counterparty. In a centrally cleared swap, while the Fund enters into an agreement with a clearing broker to execute contracts with a counterparty, the performance of the swap is guaranteed by the central clearinghouse, which reduces the Fund’s exposure to counterparty risk. The Fund is still exposed to the counterparty risk through the clearing broker and clearinghouse. The clearinghouse attempts to minimize this risk to its participants through the use of mandatory margin requirements, daily cash settlements and other procedures. Likewise, the clearing broker reduces its risk through margin requirements and required segregation of customer balances.

e) Credit Default Swap Contracts – The credit default swap market allows the Fund to manage its exposure to the market or certain sectors of the market, to reduce its risk exposure to defaults of corporate and sovereign issuers, or to create exposure to corporate or sovereign issuers to which it is not otherwise exposed. Certain credit default swaps involve the exchange of a fixed rate premium for protection against the loss in value of an underlying investment or index in the event of a credit event, such as payment default or bankruptcy.

Under a credit default swap contract, one party acts as guarantor by receiving the fixed periodic payment in exchange for the commitment to purchase the underlying investment at par if the defined credit event occurs. Upon the occurrence of a defined credit event, the difference between the value of the reference obligation and the swap’s notional amount is recorded as realized gain or loss on swap transactions in the Statement of Operations. A “buyer” of credit protection agrees to pay a counterparty to assume the credit risk of an issuer upon the occurrence of certain events. The “seller” of the protection receives periodic payments and agrees to assume the credit risk of an issuer upon the occurrence of certain events. Although specified events are contract specific, credit events are generally defined as bankruptcy, failure to pay, restructuring, obligation acceleration, obligation default or repudiation/moratorium. A “seller’s” exposure is limited to the total notional amount of the credit default swap contract. These potential amounts would be partially offset by any recovery values of the respective referenced obligations or upfront payments received upon entering into the contract.

Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap contracts on corporate issues, sovereign government issues or U.S. municipal issues as of year-end are disclosed in the notes to the Schedule of Investments, as applicable, and serve as an indicator of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and there may also be upfront payments required to be made to enter into the contract. Wider credit spreads represent a deterioration of the referenced entity’s credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the contract. For credit default swap contracts on credit indices, the quoted market prices and resulting values serve as the indicator of the current status of the payment/performance risk. Increasing market values, in absolute terms when compared to the notional amount of the swap, represent a deterioration of the referenced equity’s credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the contract. The Fund had no outstanding credit default swap contracts as of October 31, 2015.

f) Interest Rate Swap Contracts – The Fund is subject to interest rate risk exposure in the normal course of pursuing its investment objectives. Because the Fund holds fixed rate bonds, the value of these bonds may decrease if interest rates rise. To hedge against this risk and to maintain its ability to generate income at prevailing market rates, the Fund may enter into interest rate swap contracts. In a typical interest rate swap, one party agrees to make regular payments equal to a floating interest rate, based on a specified interest rate or benchmark (e.g. London Interbank Offered Rate (“LIBOR”)), multiplied by a notional amount, in return for payments equal to a fixed rate multiplied by the same amount, for a specific period of time. The net interest received or paid on interest rate swap contracts is recorded as a realized gain or loss. Interest rate swaps are marked to market daily and the change, if any, is recorded as an unrealized gain or loss in the Statement of Operations. When the interest rate swap contract is terminated early, the Fund records a realized gain or loss equal to the difference between the current market value and the upfront premium or cost.

If an interest rate swap contract provides for payments in different currencies, the parties might agree to exchange the notional amount as well. Interest rate swaps may also depend on other prices or rates, such as the value of an index. The risks of interest rate swaps include changes in market conditions which will affect the value of the contract or the cash flows and the possible inability of the counterparty to fulfill its obligations under the contract. The Fund’s maximum risk of loss from counterparty credit risk is the discounted net value of the cash flows to be received from the counterparty over the contract’s remaining life, to the extent that amount is positive. The Fund had no outstanding interest rate swap contracts as of October 31, 2015.

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The Hartford Alternative Strategies Fund

Notes to Financial Statements – (continued)

October 31, 2015

g) Total Return Swap Contracts – The Fund may invest in total return swap contracts. An investment in a total return swap allows the Fund to gain or mitigate exposure to underlying referenced securities, indices or commodities. Total return swap contracts involve commitments where cash flows are exchanged based on the price of underlying securities, indices or commodities and based on a fixed or variable rate. One party would receive payments based on the price appreciation or depreciation of a commodity index, a portion of the index, or a single commodity in exchange for paying to or receiving from the counterparty seller an agreed-upon rate, which can be fixed or variable. A variable rate may be correlated to a base rate, such as the LIBOR, and is adjusted each reset period, which are defined at the beginning of the contract. Therefore, if interest rates increase over the term of the swap contract, the party paying the rate may be required to pay a higher rate at each swap reset date.

Total return swap contracts on indices involve commitments to pay interest in exchange for a market-linked return. One party pays out the total return of a specific reference asset, which may be an equity, index, or bond, and in return receives a regular stream of payments. To the extent the total return of the security or index underlying the transaction exceeds or falls short of the offsetting interest rate obligation, the Fund will receive a payment from or make a payment to the counterparty. The Fund, as shown on the Schedule of Investments, had outstanding total return swap contracts as of October 31, 2015.

h) Additional Derivative Instrument Information:

Fair Value of Derivative Instruments on the Statement of Assets and Liabilities as of October 31, 2015:

	Risk Exposure Category
	Interest Rate Contracts		Foreign Exchange Contracts		Credit Contracts		Equity Contracts		Commodity Contracts		Other Contracts		Total
Assets:
Investments in securities, at value (purchased options), market value	$	—	$	14,551	$	—	$	1,178,359	$	—	$	—	$	1,192,910
Unrealized appreciation on futures contracts(1)		20,374		—		—		1,510,594		—		—		1,530,968
Unrealized appreciation on foreign currency contracts		—		449,537		—		—		—		—		449,537
Unrealized appreciation on swap contracts(2)		—		—		—		107,357		—		—		107,357
Total	$	20,374	$	464,088	$	—	$	2,796,310	$	—	$	—	$	3,280,772
Liabilities:
Unrealized depreciation on futures contracts(1)	$	154,188	$	—	$	—	$	1,253,860	$	—	$	—	$	1,408,048
Unrealized depreciation on foreign currency contracts		—		149,869		—		—		—		—		149,869
Written options, market value		—		—		—		1,403,067		—		—		1,403,067
Unrealized depreciation on swap contracts(2)		—		—		—		13		—		—		13
Total	$	154,188	$	149,869	$	—	$	2,656,940	$	—	$	—	$	2,960,997

The volume of derivatives that is presented in the Schedule of Investments is consistent with the derivative activity during the year ended October 31, 2015.

The Effect of Derivative Instruments on the Statement of Operations for the year ended October 31, 2015

	Risk Exposure Category
	Interest Rate Contracts			Foreign Exchange Contracts			Credit Contracts			Equity Contracts			Commodity Contracts		Other Contracts		Total
Realized Gain on Derivatives Recognized as a Result of Operations:
Net realized gain (loss) on purchased options	$	—		$	(91,045	)	$	—		$	(976,856	)	$	—	$	—	$	(1,067,901	)
Net realized gain (loss) on futures		(907,688	)		—			—			1,453,615			—		—		545,927
Net realized gain (loss) on written options		—			39,422			—			365,453			—		—		404,875
Net realized gain (loss) on swap contracts		(14,858	)		—			(25,253	)		(2,105,379	)		—		—		(2,145,490	)
Net realized gain (loss) on foreign currency contracts		—			(2,379,403	)		—			—			—		—		(2,379,403	)
Total	$	(922,546	)	$	(2,431,026	)	$	(25,253	)	$	(1,263,167	)	$	—	$	—	$	(4,641,992	)

24

The Hartford Alternative Strategies Fund

Notes to Financial Statements – (continued)

October 31, 2015

	Risk Exposure Category
	Interest Rate Contracts		Foreign Exchange Contracts			Credit Contracts		Equity Contracts			Commodity Contracts		Other Contracts		Total
Net Change in Unrealized Appreciation (Depreciation) on Derivatives Recognized as a Result of Operations:
Net change in unrealized appreciation (depreciation) of investments in purchased options	$	—	$	(43,528	)	$	—	$	(673,962	)	$	—	$	—	$	(717,490	)
Net change in unrealized appreciation (depreciation) of futures		109,447		—			—		316,564			—		—		426,011
Net change in unrealized appreciation (depreciation) of written options		—		—			—		308,021			—		—		308,021
Net change in unrealized appreciation (depreciation) of swap contracts		—		—			39,150		871,074			—		—		910,224
Net change in unrealized appreciation (depreciation) of foreign currency contracts		—		(1,169,501	)		—		—			—		—		(1,169,501	)
Total	$	109,447	$	(1,213,029	)	$	39,150	$	821,697		$	—	$	—	$	(242,735	)

⁽¹⁾  Cumulative appreciation (depreciation) on futures contracts is disclosed within the Schedule of Investments under the open “Futures Contracts” section. Only current day’s variation margin, if any, are reported within the Statement of Assets and Liabilities.

⁽²⁾  Statements of Assets and Liabilities location: Cumulative appreciation (depreciation) on centrally cleared swaps, if applicable, is disclosed within the Schedule of Investment. Only the current day’s variation margin, if any, are reported within the Statement of Assets and Liabilities. OTC swaps are reported within the Statement of Assets and Liabilities within Unrealized appreciation (depreciation) on OTC swap contracts, if applicable.

i) Balance Sheet Offsetting Information – The following discloses both gross information and net information about instruments and transactions eligible for offset in the financial statements, and instruments and transactions that are subject to a master netting arrangement (“MNA”), as well as amounts related to margin, reflected as financial collateral (including cash collateral), held at clearing brokers, counterparties and the Fund’s custodian. The MNA allow the clearing brokers to net any collateral held in or on behalf of the Fund, or liabilities or payment obligations of the clearing brokers to the Fund, against any liabilities or payment obligations of the Fund to the clearing brokers. The Fund is required to deposit financial collateral (including cash collateral) at the Fund’s custodian on behalf of clearing brokers and counterparties to continually meet the original and maintenance requirements established by the clearing brokers and counterparties. Such requirements are specific to the respective clearing broker or counterparty. Certain master netting arrangements may not be enforceable in the bankruptcy proceedings of a counterparty.

The following table presents the Fund’s derivative assets and liabilities, presented on a gross basis as no amounts are netted within the Statement of Assets and Liabilities, by counterparty net of amounts available for offset under a MNA and net of the related collateral received/pledged by the Fund as of October 31, 2015:

The Hartford Alternative Strategies Fund
Derivative Financial Instruments:	Assets			Liabilities
Foreign currency contracts	$	449,537		$	(149,869	)
Futures contracts		1,530,968			(1,408,048	)
Purchased options and swaptions		1,192,910			—
Swap contracts		107,357			(13	)
Written options and swaptions		—			(1,403,067	)
Total gross amount of derivative assets and liabilities in the Statement of Assets and Liabilities		3,280,772			(2,960,997	)
Derivatives not subject to a MNA		(1,545,205	)		2,800,898
Total gross amount of assets and liabilities subject to MNA or similar agreements	$	1,735,567		$	(160,099	)

The Hartford Alternative Strategies Fund
Counterparty	Gross Amount of Assets		Financial Instruments and Derivatives Available for Offset			Non-cash Collateral Received*		Cash Collateral Received*			Net Amount of Assets
Bank of America Securities LLC	$	441,105	$	(23,060	)	$	—	$	—		$	418,045
BNP Paribas Securities Services		6,272		—			—		—			6,272
Citibank NA		17,598		(6,588	)		—		—			11,010
Goldman Sachs & Co.		549,170		(3,135	)		—		—			546,035
JP Morgan Chase & Co.		146,252		(10,217	)		—		(136,035	)		—
Morgan Stanley		485,126		—			—		(390,000	)		95,126
RBS Greenwich Capital		12,535		(12,535	)		—		—			—
Standard Chartered Bank		33,417		(33,417	)		—		—			—
State Street Global Markets LLC		44,092		(7,979	)		—		—			36,113
Total	$	1,735,567	$	(96,931	)	$	—	$	(526,035	)	$	1,112,601

25

The Hartford Alternative Strategies Fund

Notes to Financial Statements – (continued)

October 31, 2015

The Hartford Alternative Strategies Fund
Counterparty	Gross Amount of Liabilities			Financial Instruments and Derivatives Available for Offset		Non-cash Collateral Pledged*		Cash Collateral Pledged*		Net Amount of Liabilities
Bank of America Securities LLC	$	(23,060	)	$	23,060	$	—	$	—	$	—
Barclays		(7,063	)		—		—		—		(7,063	)
Citibank NA		(6,588	)		6,588		—		—		—
Deutsche Bank Securities, Inc.		(23,969	)		—		—		—		(23,969	)
Goldman Sachs & Co.		(3,135	)		3,135		—		—		—
HSBC Bank USA		(12,731	)		—		—		—		(12,731	)
JP Morgan Chase & Co.		(10,217	)		10,217		—		—		—
RBS Greenwich Capital		(15,437	)		12,535		—		—		(2,902	)
Standard Chartered Bank		(49,920	)		33,417		—		—		(16,503	)
State Street Global Markets LLC		(7,979	)		7,979		—		—		—
Total	$	(160,099	)	$	96,931	$	—	$	—	$	(63,168	)

* In some instances, the actual collateral received and/or pledged may be more than the amount shown.

5. Principal Risks:

Credit risk depends largely on the perceived financial health of bond issuers. In general, the credit rating is inversely related to the credit risk of the issuer. Higher rated bonds generally are deemed to have less credit risk, while lower or unrated bonds are deemed to have higher risk of default. The share price, yield and total return of a fund that holds securities with higher credit risk may be more volatile than those of a fund that holds bonds with lower credit risk. Similar to credit risk, the Fund may be exposed to counterparty risk, or the risk that an institution or other entity with which the Fund has unsettled or open transactions will default.

The Fund’s investments expose the Fund to various risks including, but not limited to, interest rate, prepayment, extension and foreign currency risks. Interest rate risk is the risk that fixed income securities will decline in value because of changes in interest rates. As nominal interest rates rise, the values of certain fixed income securities held by the Fund are likely to decrease. A nominal interest rate can be described as the sum of a real interest rate and an expected inflation rate. Fixed income securities with longer durations tend to be more sensitive to changes in interest rates, usually making them more volatile than securities with shorter durations. Duration is useful primarily as a measure of the sensitivity of a fixed income security’s market price to interest rate (i.e., yield) movements. Rising interest rates may cause prepayments to occur at a slower than expected rate, thereby effectively lengthening the maturity of the security and making the security more sensitive to interest rate changes. Prepayment and extension risk are major risks of mortgage backed securities and certain asset backed securities. For certain asset backed securities, the actual maturity may be less than the stated maturity shown in the Schedule of Investments, if applicable. As a result, the timing of income recognition relating to these securities may vary based upon the actual maturity.

If the Fund invests directly in foreign currencies or in securities that trade in, and receive revenues in, foreign currencies, or in derivatives that provide exposure to foreign currencies, it will be subject to the risk that those currencies will decline in value relative to the base currency (U.S. dollars) of the Fund, or, in the case of hedging positions, that the Fund’s base currency will decline in value relative to the currency being hedged. Currency rates in foreign countries may fluctuate significantly over short periods of time for a number of reasons, including changes in interest rates, intervention (or the failure to intervene) by U.S. or foreign governments, central banks or supranational entities, such as the International Monetary Fund, or by the imposition of currency controls or other political developments in the United States or abroad. As a result, the Fund’s investments in foreign currency denominated securities may reduce the returns, if applicable, of the Fund.

6. Federal Income Taxes:

a) Federal Income Taxes – For federal income tax purposes, the Fund intends to continue to qualify as a Regulated Investment Company (“RIC”) under Subchapter M of the Internal Revenue Code (“IRC”) by distributing substantially all of its taxable net investment income and net realized capital gains to its shareholders and otherwise complying with the requirements of the IRC. The Fund has distributed substantially all of its income and capital gains in prior years, if applicable, and intends to distribute substantially all of its income and capital gains during the calendar year ending December 31, 2015. Accordingly, no provision for federal income or excise taxes has been made in the accompanying financial statements. Distributions from short-term capital gains are treated as ordinary income distributions for federal income tax purposes.

26

The Hartford Alternative Strategies Fund

Notes to Financial Statements – (continued)

October 31, 2015

b) Net Investment Income (Loss), Net Realized Gains (Losses) and Distributions – Net investment income (loss) and net realized gains (losses) may differ for financial statement and tax purposes primarily because of losses deferred due to wash sale adjustments, foreign currency gains and losses, adjustments related to Passive Foreign Investment Companies (“PFICs”), Real Estate Investment Trusts (“REITs”), RICs, certain derivatives and partnerships. The character of distributions made during the year from net investment income or net realized gains may differ from their ultimate characterization for federal income tax purposes. Also, due to the timing of dividend distributions, the fiscal year in which amounts are distributed may differ from the year that the income or realized gains (losses) were recorded by the Fund.

c) Distributions and Components of Distributable Earnings – The tax character of distributions paid by the Fund for the periods indicated is as follows (as adjusted for dividends payable, if applicable):

	For the Year Ended October 31, 2015		For the Year Ended October 31, 2014
Ordinary Income	$	—	$	351,511
Long-Term Capital Gains‡		801,819		1,244,251

^‡  The Fund designates these distributions as long-term capital gain dividends pursuant to IRC Sec. 852(b)(3)(C).

As of October 31, 2015, the Fund’s components of distributable earnings (deficit) on a tax basis are as follows:

	Amount
Undistributed Long-Term Capital Gain	$	—
Accumulated Capital and Other Losses		—
Unrealized Depreciation*		(3,664,570	)
Total Accumulated Deficit	$	(3,664,570	)

* Differences between book-basis and tax-basis unrealized appreciation (depreciation) may be attributable to losses deferred due to wash sale adjustments, foreign currency gains and losses, adjustments related to PFICs, REITs, RICs, certain derivatives and partnerships.

d) Reclassification of Capital Accounts – The Fund may record reclassifications in its capital accounts. These reclassifications have no impact on the total net assets of the Fund. The reclassifications are a result of permanent differences between U.S. GAAP and tax accounting for such items as foreign currency, PFICs, expiration or utilization of capital loss carryforwards or net operating losses. Adjustments are made to reflect the impact these items have on current and future distributions to shareholders. Therefore, the source of the Fund’s distributions may be shown in the accompanying Statement of Changes in Net Assets as from undistributed net investment income, from accumulated net realized gains on investments or from capital depending on the type of book and tax differences that exist. For the year ended October 31, 2015, the Fund recorded reclassifications to increase (decrease) the accounts listed below:

	Amount
Capital Stock and Paid-in-Capital	$	(6,430,579	)
Undistributed Net Investment Income (Loss)		2,941,078
Accumulated Net Realized Gain (Loss)		3,489,501

e) Capital Loss Carryforward – On December 22, 2010, the Regulated Investment Company Modernization Act of 2010 (the “Act”) was enacted, which made changes to the capital loss carryforward rules. The changes are effective for taxable years beginning after the date of enactment. Under the Act, funds are permitted to carry forward capital losses for an unlimited period. Additionally, post-enactment capital loss carryforwards retain their character as either short-term or long-term capital losses rather than being considered all short-term as permitted under prior regulation.

The Fund had no capital loss carryforward for U.S. federal income tax purposes as of October 31, 2015.

27

The Hartford Alternative Strategies Fund

Notes to Financial Statements – (continued)

October 31, 2015

f) Accounting for Uncertainty in Income Taxes – Pursuant to provisions set forth by U.S. GAAP, Hartford Funds Management Company, LLC (“HFMC”) reviews the Fund’s tax positions for all open tax years. As of October 31, 2015, HFMC had reviewed the open tax years and concluded that there was no reason to record a liability for net unrecognized tax obligations relating to uncertain income tax positions. The Fund files U.S. tax returns. Although the statute of limitations for examining a Fund’s U.S. tax returns remains open for 3 years, no examination is currently in progress. HFMC is not aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly change in the next twelve months.

The Fund has reviewed all open tax years and major jurisdictions and concluded that these financial reporting rules had no effect on the Fund’s financial position or results of operations. There is no tax liability resulting from unrecognized tax obligations relating to uncertain income tax positions taken or expected to be taken on the tax return for the fiscal year ended October 31, 2015. HFMC is not aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly change in the next twelve months.

7. Expenses:

a) Investment Management Agreement – Hartford Funds Management Company, LLC (“HFMC”) serves as the Fund’s investment manager pursuant to an Investment Management Agreement with the Fund. HFMC is an indirect subsidiary of The Hartford Financial Services Group, Inc. (“The Hartford”). HFMC has overall investment supervisory responsibility for the Fund. In addition, HFMC provides administrative personnel, services, equipment, facilities and office space for proper operation of the Fund. HFMC has contracted with Wellington Management Company LLP (“Wellington Management”) under a sub-advisory agreement for the provision of day-to-day investment management services to the Fund in accordance with the Fund’s investment objective and policies. The Fund pays a fee to the investment manager, a portion of which may be used to compensate Wellington Management.

The schedule below reflects the rates of compensation paid to HFMC for investment management services rendered as of October 31, 2015; the rates are accrued daily and paid monthly:

Average Daily Net Assets	Management Fee Rates Annual Fee
On first $500 million		0.600	%
On next $500 million		0.550	%
On next $2 billion		0.500	%
On next $2 billion		0.490	%
On next $5 billion		0.480	%
Over $10 billion		0.470	%

b) Accounting Services Agreement – Pursuant to the Fund Accounting Agreement between HFMC and the Fund, HFMC provides accounting services to the Fund and receives monthly compensation based on the Fund’s average daily net assets at the rates set forth below. The Fund’s accounting services fees are accrued daily and paid monthly.

Average Daily Net Assets	Accounting Services Fee Rates Annual Fee
On first $5 billion		0.020	%
On next $5 billion		0.015	%
Over $10 billion		0.010	%

Effective February 28, 2015, HFMC has delegated certain accounting and administrative services functions to State Street Bank and Trust Company (“State Street”). The costs and expenses of such delegation are borne by HFMC, not by the Fund, and HFMC compensates State Street for its services out of its own resources.

c) Operating Expenses – As of October 31, 2015, HFMC contractually limited the total operating expenses of the Fund, exclusive of taxes, interest expense, brokerage commissions, acquired fund fees and expenses and extraordinary expenses, through February 29, 2016 as follows:

Class Y

0.65%

28

The Hartford Alternative Strategies Fund

Notes to Financial Statements – (continued)

October 31, 2015

d) Fees Paid Indirectly – The Fund has entered into agreements with State Street Global Markets, LLC and Russell Implementation Services, Inc. to partially recapture non-discounted trade commissions. Such rebates are used to pay a portion of the Fund’s expenses. For the year ended October 31, 2015, this amount, if any, is included in the Statement of Operations.

The ratio of expenses to average net assets in the accompanying financial highlights excludes the reduction in expenses related to fees paid indirectly. The annualized expense ratio after waivers for the period listed below reflecting the reduction for fees paid indirectly is as follows:

	Year Ended October 31, 2015
Class Y		0.65	%

e) Other Related Party Transactions – Certain officers of each Company are directors and/or officers of HFMC and/or The Hartford or its subsidiaries. For the year ended October 31, 2015, a portion of each Company’s Chief Compliance Officer’s compensation was paid by all of the investment companies in the Hartford fund complex. The portion allocated to the Fund, as represented in other expenses on the Statement of Operations, is outlined in the table below. Hartford Administrative Services Company (“HASCO”), an indirect subsidiary of The Hartford, provides transfer agent services to the Fund. HASCO has contractually agreed to reimburse any portion of the transfer agency fees over 0.30% of the average daily net assets per fiscal year. Effective December 1, 2014, pursuant to a sub-transfer agency agreement between HASCO and Boston Financial Data Services, Inc. (“BFDS”), HASCO delegated certain transfer agent, dividend disbursing agent and shareholder servicing agent functions to BFDS. HASCO is compensated based on average daily net assets, plus out of pocket expenses for providing such services, a portion of which may be used to compensate BFDS. The amount paid to HASCO can be found in the Statement of Operations. Any transfer agency fee reimbursement is determined before the contractual operating expense limitation. These fees are accrued daily and paid monthly.

Fund	CCO Compensation Paid by Fund
The Hartford Alternative Strategies Fund	$	262

8. Investment Transactions:

For the year ended October 31, 2015, the cost of purchases and proceeds from sales of investment securities (excluding short-term investments) were as follows:

Fund	Cost of Purchases Excluding U.S. Government Obligations		Sales Proceeds Excluding U.S. Government Obligations
The Hartford Alternative Strategies Fund	$	47,877,763	$	40,303,298

Fund	Cost of Purchases U.S. Government Obligations		Sales Proceeds U.S. Government Obligations
The Hartford Alternative Strategies Fund	$	5,998,764	$	9,883,009

Fund	Total Cost of Purchases		Total Sales Proceeds
The Hartford Alternative Strategies Fund	$	53,876,527	$	50,186,307

For the year ended October 31, 2015, the Fund engaged in security transactions with other affiliated portfolios. These amounted to $8,206,376 in sales of investments, which are excluded from the above.

29

The Hartford Alternative Strategies Fund

Notes to Financial Statements – (continued)

October 31, 2015

9. Capital Share Transactions:

The following information is for the year ended October 31, 2015, and the year ended October 31, 2014:

The Hartford Alternative Strategies Fund

	For the Year Ended October 31, 2015						For the Year Ended October 31, 2014
	Shares			Amount			Shares			Amount
Class Y
Shares Sold		2,120,482		$	20,242,719			4,262,059		$	42,577,343
Shares Issued for Reinvested Dividends		84,048			801,819			161,449			1,595,762
Shares Redeemed		(4,930,681	)		(47,886,316	)		(29,277,908	)		(295,288,432	)
Total Net Increase (Decrease)		(2,726,151	)	$	(26,841,778	)		(24,854,400	)	$	(251,115,327	)

10. Pending Legal Proceedings:

On February 25, 2011, Jennifer L. Kasilag, Louis Mellinger, Judith M. Menendez, Jacqueline M. Robinson, and Linda A. Russell filed a derivative lawsuit against Hartford Investment Financial Services, LLC (“HIFSCO”) (now known as Hartford Funds Distributors, LLC) on behalf of six Hartford retail mutual funds in the United States District Court for the District of New Jersey, alleging that HIFSCO received excessive advisory and distribution fees in violation of its statutory fiduciary duty under Section 36(b) of the 1940 Act when serving as investment manager and principal underwriter, respectively, to the Hartford retail mutual funds. Although this action was purportedly filed on behalf of certain of the Hartford Funds, none of the Hartford Funds is itself a defendant to the suit. HIFSCO moved to dismiss and, in September 2011, the motion was granted in part and denied in part, with leave to amend the complaint. In November 2011, plaintiffs filed an amended complaint on behalf of certain Hartford retail mutual funds, The Hartford Global Health Fund (now known as The Hartford Healthcare Fund), The Hartford Conservative Allocation Fund, The Hartford Growth Opportunities Fund, The Hartford Inflation Plus Fund, The Hartford Advisers Fund (now known as The Hartford Balanced Fund), and The Hartford Capital Appreciation Fund. Plaintiffs seek to rescind the investment management agreements and distribution plans between HIFSCO and these funds and to recover the total fees charged thereunder or, in the alternative, to recover any improper compensation HIFSCO received, in addition to lost earnings. HIFSCO filed a partial motion to dismiss the amended complaint and, in December 2012, the court dismissed without prejudice the claims regarding distribution fees and denied the motion with respect to the advisory fees claims. In March 2014, the plaintiffs filed a new complaint that added as new plaintiffs The Hartford Floating Rate Fund and The Hartford Small Company Fund and named as a defendant HFMC, which assumed the role as investment manager to the funds as of January 2013. In March 2015, the plaintiffs filed a new complaint that removed The Hartford Small Company Fund as a plaintiff. HFMC and HIFSCO dispute the allegations and have filed a motion for summary judgment. Plaintiff has filed a motion for partial summary judgment.

No accrual for litigation relating to this matter has been recorded in the financial statements of the Fund because the Fund is not party to the suit.

11. Indemnifications:

Under the Fund’s organizational documents, the Fund shall indemnify its officers and trustees to the full extent required or permitted under Maryland General Corporation Law and federal securities laws. In addition, the Fund may enter into contracts that contain a variety of indemnifications. The Fund’s maximum exposure under these arrangements is unknown. However, as of the date of these financial statements, the Fund has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote.

12. Recent Accounting Pronouncement:

In June 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-11, Transfers and Servicing (Topic 860): Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures, modifying Accounting Standards Codification Topic 860. The amended guidance changes the accounting for repurchase-to-maturity transactions and repurchase financing arrangements. The guidance also requires new disclosures for certain transfers accounted for as sales and collateral supporting transactions that are accounted for as secured borrowings. ASU 2014-11 is effective for annual and interim periods beginning after

30

The Hartford Alternative Strategies Fund

Notes to Financial Statements – (continued)

October 31, 2015

December 15, 2014, except for the disclosures related to secured borrowings, which are effective for annual periods beginning after December 15, 2014, and for interim periods beginning after March 15, 2015. The adoption of ASU 2014-11 is not expected to have a material impact on the Fund’s results of operations or financial positions, but may impact the Fund’s disclosures.

13. Subsequent Event:

On August 5, 2015, the Fund’s Board of Trustees approved the liquidation of the Fund. The Fund liquidated on November 20, 2015.

31

Report of Independent Registered Public Accounting Firm

The Board of Trustees and Shareholders of

The Hartford Alternative Strategies Fund

We have audited the accompanying statement of assets and liabilities, including the schedules of investments, of The Hartford Alternative Strategies Fund (the “Fund”), as of October 31, 2015, and the related statement of operations for the year then ended, the statement of changes in net assets for each of the two years in the period then ended, and financial highlights for each of the periods indicated therein. These financial statements and financial highlights are the responsibility of the Fund’s management. Our responsibility is to express an opinion on these financial statements and financial highlights based on our audit.

We conducted our audit in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement. We were not engaged to perform an audit of the Fund’s internal control over financial reporting. Our audit included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Fund’s internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements and financial highlights, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. Our procedures included confirmation of securities owned as of October 31, 2015, by correspondence with the custodian and brokers or by other appropriate auditing procedures where replies from brokers were not received. We believe that our audit provides a reasonable basis for our opinion.

In our opinion, the financial statements and financial highlights referred to above present fairly, in all material respects, the financial position of The Hartford Alternative Strategies Fund at October 31, 2015, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period then ended, and the financial highlights for each of the indicated periods in conformity with U.S. generally accepted accounting principles.

New York, New York

December 30, 2015

32

The Hartford Alternative Strategies Fund

Trustees and Officers (Unaudited)

The Board of Trustees of the Fund (the “Trustees”) appoints officers who are responsible for the day-to-day operations of the Fund and who execute policies formulated by the Trustees. Each Trustee holds an indefinite term until the earlier of (i) the election and qualification of his or her successor or (ii) when the Trustee turns 75 years of age.

Each Trustee, with the exception of Mr. Davey, is an independent or disinterested person, which means he or she is not an “interested person” of the Fund, as defined in the Investment Company Act of 1940 (“1940 Act”). Such individuals are commonly referred to as “Independent Trustees.” As of October 31, 2015, each Trustee serves as a director for The Hartford Mutual Funds, Inc., The Hartford Mutual Funds II, Inc., Hartford Series Fund, Inc., and Hartford HLS Series Fund II, Inc., and as a trustee for The Hartford Alternative Strategies Fund, which, as of October 31, 2015, collectively, consist of 68 funds. Correspondence may be sent to Trustees and officers c/o Hartford Funds, 5 Radnor Corporate Center, Suite 300, 100 Matsonford Road, Radnor, Pennsylvania 19087.

The table below sets forth, for each Trustee and officer, his or her name, year of birth, current position with the Fund and date first elected or appointed, principal occupation, and, for Trustees, other directorships held. The Fund’s Statement of Additional Information contains further information on the Trustees and is available free of charge by calling 1-888-843-7824 or writing to: Hartford Funds, P.O. Box 55022, Boston, MA 02205-5022.

Information on the aggregate remuneration paid to the trustees of the Fund can be found in the Statement of Operations herein.

Non-Interested Trustees*

Hilary E. Ackermann (1956) Trustee since 2014

Ms. Ackermann served as Chief Risk Officer at Goldman Sachs Bank USA from October 2008 to November 2011 and serves as a Director of Dynegy, Inc., an independent power company, from October 2012 to present.

Lynn S. Birdsong (1946) Trustee since 2011, Chairman of the Investment Committee since 2014

Mr. Birdsong currently serves as a Director of Aberdeen Global and Aberdeen Global II (investment funds) (September 2014 to present) and as a Director of the Sovereign High Yield Investment Company (April 2010 to June 2014). Mr. Birdsong served as an Independent Director of Nomura Partners Funds, Inc. (formerly, The Japan Fund) (April 2003 to February 2015). From 2003 to March 2005, Mr. Birdsong was an Independent Director of the Atlantic Whitehall Funds. From 1979 to 2002, Mr. Birdsong was a Managing Director of Zurich Scudder Investments, an investment management firm. During his employment with Scudder, Mr. Birdsong was an Interested Director of The Japan Fund. From January 1981 through December 2013, Mr. Birdsong was a partner in Birdsong Company, an advertising specialty firm.

Duane E. Hill (1945) Trustee since 2011, Chairman of the Nominating Committee since 2011

Mr. Hill is a Partner of TSG Ventures L.P., a private equity investment company. Mr. Hill is a former partner of TSG Capital Group, a private equity investment firm that served as sponsor and lead investor in leveraged buyouts of middle market companies.

Sandra S. Jaffee (1941) Trustee since 2011, Chairwoman of the Compliance Committee since 2015

Ms. Jaffee is the founder and Chief Executive Officer of a private company, Homeworks Concierge, LLC, which provides residential property management services in Westchester County, New York (January 2012 to present). Ms. Jaffee served as Chairwoman (2008 to 2009) and Chief Executive Officer of Fortent (formerly Searchspace Group), a leading provider of compliance/regulatory technology to financial institutions from August 2005 to August 2009. From August 2004 to August 2005, Ms. Jaffee served as an Entrepreneur in Residence with Warburg Pincus, a private equity firm. Prior to joining Warburg Pincus, Ms. Jaffee served as Executive Vice President at Citigroup, from September 1995 to July 2004, where she was President and Chief Executive Officer of Citibank’s Global Securities Services (1995 to 2003). Ms. Jaffee served as a member of the Board of Directors of Broadridge Financial Solutions (November 2010 to November 2014). Ms. Jaffee currently serves as a member of the Board of Directors of Global Corps Africa (a non-profit organization) (January 2015 to present) as well as a Trustee of Muhlenberg College (September 2007 to present).

* Robert M. Gavin, Jr. resigned as a Director of The Hartford Mutual Funds, Inc., The Hartford Mutual Funds II, Inc., Hartford Series Fund, Inc., and Hartford HLS Series Fund II, Inc., and as a Trustee of The Hartford Alternative Strategies Fund effective August 16, 2015. Mr. Gavin had been a Trustee and Chairman of the Board of the Fund since 2011.

33

The Hartford Alternative Strategies Fund

Trustees and Officers (Unaudited) – (continued)

William P. Johnston (1944) Trustee since 2011, Chairman of the Board since 2015, Chairman of the Contracts Committee since 2015

Mr. Johnston served as Chairman of the Compliance Committee from 2005 to 2015. In June 2006, he was appointed as Senior Advisor to The Carlyle Group, a global private equity and other alternative asset investment firm and currently serves as an Operating Executive. In July 2006, Mr. Johnston was elected to the Board of Directors of MultiPlan, Inc. and served as a Director (July 2006 to August 2010). In August 2007, Mr. Johnston was elected to the Board of Directors of LifeCare Holdings, Inc. and served as a Director (August 2007 to June 2013). In February 2008, Mr. Johnston was elected to the Board of Directors of HCR-ManorCare, Inc. In May 2006, Mr. Johnston was elected to the Supervisory Board of Fresenius Medical Care AG & Co. KGaA, after its acquisition of Renal Care Group, Inc. in March 2006. Mr. Johnston joined Renal Care Group in November 2002 as a member of the Board of Directors and served as Chairman of the Board from March 2003 through March 2006. From 2002 through 2013, Mr. Johnston served as a Board member of the Georgia O’Keefe Museum. From September 1987 to December 2002, Mr. Johnston was with Equitable Securities Corporation (and its successors, SunTrust Equitable Securities and SunTrust Robinson Humphrey) serving in various investment banking and managerial positions, including Managing Director and Head of Investment Banking, Chief Executive Officer and Vice Chairman.

Phillip O. Peterson (1944) Trustee since 2011, Chairman of the Audit Committee since 2011

Mr. Peterson is a mutual fund industry consultant. He was a partner of KPMG LLP (an accounting firm) until July 1999. Mr. Peterson joined William Blair Funds in February 2007 as a member of the Board of Trustees. From February 2012 to February 2014, Mr. Peterson served as a Trustee of Symetra Variable Mutual Funds. From January 2004 to April 2005, Mr. Peterson served as Independent President of the Strong Mutual Funds.

Lemma W. Senbet (1946) Trustee since 2011

Dr. Senbet is the William E. Mayer Chair Professor of Finance and Founding Director, Center for Financial Policy, at the University of Maryland, Robert H. Smith School of Business. He was chair of the Finance Department of the University of Maryland, Robert H. Smith School of Business from 1998 to 2006. Since June 2013, he has been on leave from the University to serve as Executive Director of African Economic Research Consortium which focuses on economic policy research and training. Previously, he was a chaired professor of finance at the University of Wisconsin-Madison. Also, he was a Director of the Fortis Funds from March 2000 to July 2002. Dr. Senbet served as Director of the American Finance Association and President of the Western Finance Association. In 2006, Dr. Senbet was inducted Fellow of Financial Management Association International for his career-long distinguished scholarship and professional service.

Interested Trustees and Officers

James E. Davey (1964) Trustee since 2012, President and Chief Executive Officer since 2011

Mr. Davey serves as Executive Vice President of Hartford Life Insurance Company (“HLIC”) and The Hartford. Additionally, Mr. Davey serves as Chairman of the Board, Manager and Senior Managing Director of Hartford Funds Distributors, LLC (“HFD”). He also currently serves as Director, Chairman of the Board, President and Senior Managing Director of Hartford Administrative Services Company (“HASCO”). Mr. Davey also serves as Manager, Chairman of the Board and Senior Managing Director for Hartford Funds Management Company, LLC (“HFMC”) and Director, Chairman of the Board and Senior Managing Director for Hartford Funds Management Group, Inc. (“HFMG”). Mr. Davey has served in various positions within The Hartford and its subsidiaries in connection with the operation of the Hartford Funds. Mr. Davey joined The Hartford in 2002.

Other Officers

Andrew S. Decker (1963) AML Compliance Officer since 2015

Mr. Decker currently serves as Chief Compliance Officer and AML Compliance Officer of HASCO and as AML Officer of HFD. Prior to joining The Hartford, Mr. Decker served as Vice President and AML Officer at Janney Montgomery Scott (a broker dealer) from April 2011 to January 2015. Mr. Decker served as AML Compliance and Sanctions Enforcement Officer at SEI Investments from December 2007 to April 2011.

Michael Flook (1965) Vice President, Treasurer and Controller since 2015

Mr. Flook currently serves as an employee of HFMC. Mr. Flook served as Assistant Treasurer for the Fund, The Hartford Mutual Funds, Inc., The Hartford Mutual Funds II, Inc., Hartford Series Fund, Inc., and Hartford HLS Series Fund II, Inc. from February 2015 to March 2015. Mr. Flook joined The Hartford in 2014. Prior to joining The Hartford, Mr. Flook served as Director, Vice President and Assistant Treasurer at UBS Global Asset Management from May 2006 to November 2014.

34

The Hartford Alternative Strategies Fund

Trustees and Officers (Unaudited) – (continued)

Edward P. Macdonald (1967) Vice President, Secretary and Chief Legal Officer since 2011

Mr. Macdonald currently serves as Assistant Secretary, Executive Vice President and Deputy General Counsel of HFD, HASCO, HFMC and HFMG. He also serves as Vice President of HLIC. Mr. Macdonald has served in various positions within The Hartford and its subsidiaries in connection with the operation of the Hartford Funds. Mr. Macdonald joined The Hartford in 2005.

Joseph G. Melcher (1973) Vice President and Chief Compliance Officer since 2013

Mr. Melcher currently serves as Executive Vice President of HFD, HFMG and HASCO. Mr. Melcher also currently serves as Executive Vice President and Chief Compliance Officer of HFMC. Mr. Melcher has served in various positions within The Hartford and its subsidiaries in connection with the operation of the Hartford Funds since joining The Hartford in 2012. Prior to joining The Hartford, Mr. Melcher worked at Touchstone Investments, a member of the Western & Southern Financial Group, where he held the position of Vice President and Chief Compliance Officer from 2010 through 2012 and Assistant Vice President, Compliance from 2005 to 2010.

Vernon J. Meyer (1964) Vice President since 2011

Mr. Meyer currently serves as Senior Vice President of HLIC. He also currently serves as Managing Director and Chief Investment Officer of HFMC and Managing Director of HFMG. Mr. Meyer has served in various positions within The Hartford and its subsidiaries in connection with the operation of the Hartford Funds. Mr. Meyer joined The Hartford in 2004.

Laura S. Quade (1969) Vice President since 2012

Ms. Quade currently serves as Vice President of HASCO, HFD and HFMG. She is the Head of Operations of HASCO and formerly served as Director, Enterprise Operations of HLIC. Ms. Quade has served in various positions within The Hartford and its subsidiaries in connection with the operation of the Hartford Funds. Ms. Quade joined The Hartford in 2001.

35

The Hartford Alternative Strategies Fund

Federal Tax Information (Unaudited)

For the fiscal year ended October 31, 2015, there is no further federal tax information required for this Fund.

36

The Hartford Alternative Strategies Fund

Approval of Investment Management and Investment Sub-Advisory Agreements (Unaudited)

Section 15(c) of the Investment Company Act of 1940, as amended (the “1940 Act”), requires that each mutual fund’s board of trustees, including a majority of those trustees who are not “interested persons” of the mutual fund, as defined in the 1940 Act (the “Independent Trustees”), annually review and consider the continuation of the mutual fund’s investment advisory and sub-advisory agreements. At its meeting held on August 4-5, 2015, the Board of Trustees (the “Board”) of The Hartford Alternative Strategies Fund (the “Fund”), including each of the Independent Trustees, unanimously voted to approve the continuation of the investment management agreement (the “Management Agreement”) for the Fund with Hartford Funds Management Company, LLC (“HFMC”) and the continuation of the investment sub-advisory agreement between HFMC and the Fund’s sub-adviser, Wellington Management Company LLP (the “Sub-adviser,” and together with HFMC, the “Advisers”) (collectively, the “Agreements”).

In the months preceding the August 4-5, 2015 meeting, the Board requested, received and reviewed written responses from the Advisers to questions posed to them on behalf of the Independent Trustees and supporting materials relating to those questions and responses. In addition, the Board considered such additional information as it deemed reasonably necessary to evaluate the Agreements, which included information furnished to the Board at its meetings throughout the year, as well as information specifically prepared in connection with the annual approval of the Agreements at the Board’s meetings held on June 16-17, 2015 and August 4-5, 2015. Information provided to the Board at its meetings throughout the year included, among other things, reports on Fund performance, legal and compliance matters, and the other services provided to the Fund by the Advisers and their affiliates. The Board also received in-person presentations by Fund officers and representatives of HFMC at the Board’s meetings on June 16-17, 2015 and August 4-5, 2015 concerning the Agreements.

The Independent Trustees, advised by independent legal counsel, engaged service providers to assist them with evaluating the Agreements with respect to the Fund. Lipper Inc. (“Lipper”), an independent provider of investment company data, was retained to provide the Board with reports on how the Fund’s contractual management fees, actual management fees, other non-management fees, overall expense ratios and investment performance compared to those of comparable mutual funds with similar investment objectives. The Independent Trustees also engaged an independent financial services consultant (the “Consultant”) to assist them in evaluating the Fund’s management fees, sub-advisory fees, other non-management fees, overall expense ratios and investment performance. In addition, the Consultant reviewed the profitability calculations utilized by HFMC in connection with the continuation of the investment management agreement.

In determining whether to continue the Agreements for the Fund, the members of the Board reviewed and evaluated information and factors they believed to be relevant in light of the information that the Board deemed necessary and appropriate through the exercise of its reasonable business judgment. While individual members of the Board may have weighed certain factors differently, the Board’s determination to continue the Agreements was based on a comprehensive consideration of all information provided to the Board throughout the year and specifically with respect to the continuation of the Agreements. A more detailed discussion of the factors the Board considered with respect to its approval of the Agreements is provided below.

The Board noted that HFMC was proposing the liquidation of the Fund on or about November 20, 2015.

Nature, Extent and Quality of Services Provided by the Advisers

The Board requested and considered information concerning the nature, extent and quality of the services provided to the Fund by the Advisers. The Board considered, among other things, the terms of the Agreements and the range of services provided by the Advisers. The Board considered the Advisers’ professional personnel who provide services to the Fund, including each Adviser’s ability and experience in attracting and retaining qualified personnel to service the Fund. The Board considered each Adviser’s reputation and overall financial strength, as well as its willingness to consider and implement organizational and operational changes designed to enhance services to the Hartford Funds. In addition, the Board considered the quality of each Adviser’s communications with the Board and responsiveness to Board inquiries and requests made from time to time with respect to the Fund and other Hartford Funds.

The Board requested and evaluated information concerning each Adviser’s regulatory and compliance environment. In this regard, the Board requested and reviewed information about each Adviser’s compliance policies and procedures, compliance history, and a report from the Fund’s Chief Compliance Officer on each Adviser’s compliance with applicable laws and regulations, including responses to regulatory developments and compliance issues raised by regulators. The Board also noted the Advisers’ support of the Fund’s compliance control structure, and, in particular, the resources devoted by the Advisers in support of the Fund’s obligations pursuant to Rule 38a-1 under the 1940 Act.

With respect to HFMC, the Board noted that, under the Management Agreement, HFMC is responsible for the management of the Fund, including oversight of fund operations and service providers, and provides administrative and investment advisory services in connection with selecting, monitoring and supervising the Sub-adviser. The Board considered HFMC’s ongoing monitoring of people, process and performance, including its quarterly reviews of each of the Hartford Funds, semi-annual meetings with the leaders of the Fund’s portfolio management team,

37

The Hartford Alternative Strategies Fund

Approval of Investment Management and Investment Sub-Advisory Agreements (Unaudited) - (continued)

and oversight of the Hartford Funds’ approximately 68 portfolio managers. The Board recognized that HFMC has demonstrated a record of making changes to the management and/or strategies of the Hartford Funds when warranted. The Board considered HFMC’s oversight of the Sub-adviser’s investment approach and results, process for monitoring best execution of portfolio trades by the Sub-adviser, and approach to risk management with respect to the Fund and the service providers to the Fund. The Board also considered HFMC’s oversight of compliance with the Fund’s objective and policies as well as with applicable laws and regulations, noting that regulatory and other developments had over time led to an increase in the scope of HFMC’s services in this regard.

In addition, the Board considered HFMC’s ongoing commitment to review and rationalize the Hartford Funds product line-up and the expenses that HFMC had incurred in connection with fund combinations in recent years. The Board considered that HFMC or its affiliates are responsible for providing the Fund’s officers.

With respect to the Sub-adviser, which provides certain day-to-day portfolio management services for the Fund, the Board considered the quality of the Fund’s portfolio managers, the Sub-adviser’s other investment personnel, its investment philosophy and process, investment research capabilities and resources, performance record, trade execution capabilities and experience. The Board considered the experience of the Fund’s portfolio managers, the number of accounts managed by the portfolio managers, and the Sub-adviser’s method for compensating the portfolio managers.

Based on these considerations, the Board concluded that it was satisfied with the nature, extent and quality of the services provided to the Fund by HFMC and the Sub-adviser.

Performance of the Fund and the Advisers

The Board considered the investment performance of the Fund. In this regard, the Board reviewed the performance of the Fund over different time periods presented in the materials and evaluated HFMC’s analysis of the Fund’s performance for these time periods. The Board considered information and materials provided to the Board by the Advisers concerning Fund performance, as well as information from Lipper comparing the investment performance of the Fund to an appropriate benchmark and universe of peer funds. The Board noted that the Fund’s performance was in the 4th quintile of its performance universe for the 1-year period and the 5th quintile for the 3-year period. In addition to third party comparative data, the Board also considered the Fund’s alternative investment objectives and the extent to which such investment objectives have been met. The Board also noted that the Fund’s performance was below its benchmark for the 1- and 3-year periods.

The Board considered the detailed investment analytics reports provided by Hartford Funds’ Investment Advisory Group throughout the year. These reports include, among other things, information on the Fund’s gross and net returns, the Fund’s investment performance relative to an appropriate benchmark and peer group, various statistics concerning the Fund’s portfolio, and a narrative summary of various factors affecting Fund performance. The Board considered the Advisers’ cooperation with the Investment Committee, which assists the Board in evaluating the performance of the Fund at periodic meetings throughout the year. The Board also considered the analysis provided by the Consultant relating to the Fund’s performance track record.

In light of all the considerations noted above, the Board concluded that it had continued confidence in HFMC’s and the Sub-adviser’s overall capabilities to manage the Fund.

Costs of the Services and Profitability of the Advisers

The Board reviewed information regarding HFMC’s cost to provide investment management and related services to the Fund and HFMC’s profitability, both overall and for the Fund, on a pre-tax basis. The Board considered that the Fund is not offered directly to the public. The Board also requested and reviewed information about the profitability to HFMC and its affiliates from all services provided to the Fund and all aspects of their relationship with the Fund. The Board also requested and received information relating to the operations and profitability of the Sub-adviser.

The Board considered the Consultant’s review of the profitability calculations used by HFMC in connection with the continuation of the investment management agreement, noting the Consultant’s view that Hartford Funds’ process for calculating and reporting Fund profitability is reasonable. In this regard, the Board noted that the Consultant had previously performed a full review of this process and reported that such process is sound and well within common industry practice.

Based on these considerations, the Board concluded that the profits anticipated to be realized by the Advisers and their affiliates from their relationships with the Fund would not be excessive.

38

The Hartford Alternative Strategies Fund

Approval of Investment Management and Investment Sub-Advisory Agreements (Unaudited) - (continued)

Comparison of Fees and Services Provided by the Advisers

The Board considered comparative information with respect to the management fees to be paid by the Fund to HFMC and the total expense ratios of the Fund. The Board also considered comparative information with respect to the sub-advisory fees to be paid by HFMC to the Sub-adviser with respect to the Fund. In this regard, the Board requested and reviewed information from HFMC and the Sub-adviser relating to the management and sub-advisory fees, including the sub-advisory fee schedule for the Fund, and total operating expenses for the Fund. With respect to the Fund’s sub-advisory fee schedule, the Board considered representations from HFMC and the Sub-adviser that the Sub-adviser’s fees were negotiated at arm’s length on a fund-by-fund basis. The Board also reviewed information from Lipper comparing the Fund’s contractual management fees, actual management fees and overall expense ratios relative to a group of funds selected by Lipper, in consultation with the Consultant, and a broader universe of funds selected by Lipper. The Board noted that the Fund’s contractual management fee, actual management fee and total expenses were in the 1st quintile of its expense group. The Board noted that the Fund has an automatically renewable contractual expense cap.

While the Board recognized that comparisons between the Fund and peer funds may be imprecise, given the different service levels and characteristics of mutual funds and the different business models and cost structures of the Advisers, the comparative information provided by Lipper assisted the Board in evaluating the reasonableness of the Fund’s management and sub-advisory fees and total operating expenses. In addition, the Board considered the analysis and recommendations of the Consultant relating to the Fund’s management and sub-advisory fees and total operating expenses.

Based on these considerations, the Board concluded that the Fund’s fees and total operating expenses, taking into account the information about quality of services, profitability, economies of scale, and other matters discussed, were reasonable in light of the services provided.

Economies of Scale

The Board requested and considered information regarding the Advisers’ realization of economies of scale with respect to the Fund and whether the fee levels reflect these economies of scale for the benefit of the Fund’s shareholders. The Board reviewed the breakpoints in the management fee schedule for the Fund, if any, which reduce fee rates as the Fund’s assets grow over time. The Board noted that the Fund is offered only to other Hartford Mutual Funds and/or 529 Plan investment funds in private placement transactions that do not involve any public offering. The Board also noted that certain Hartford Funds had recently redeemed all of their investments in the Fund, and considered that HFMC had indicated that it does not anticipate that any Hartford Fund will allocate assets to the Fund in the foreseeable future.

The Board recognized that a fund with assets beyond the highest breakpoint level will continue to benefit from economies of scale because additional assets are charged the lowest breakpoint fee resulting in lower overall effective management fee rates. The Board also considered that expense limitations and fee waivers that reduce the Fund’s expenses at all asset levels can have the same effect as breakpoints in sharing economies of scale with shareholders and provide protection from an increase in expenses if the Fund’s assets decline. The Board recognized that a fee schedule that reaches a lower breakpoint quickly provides shareholders with the benefit of anticipated or potential economies of scale. The Board also considered that HFMC has been active in managing expenses, which has resulted in benefits being realized by shareholders as assets within the Hartford Funds family of funds have grown over time, including through lower transfer agent costs and other operating expenses.

The Board reviewed and evaluated materials from Lipper and the Consultant showing how management fee schedules of peer funds reflect economies of scale for the benefit of shareholders as a peer fund’s assets hypothetically increase over time. Based on information provided by HFMC, Lipper, and the Consultant, the Board recognized that there is no uniform methodology for establishing breakpoints or uniform pattern in asset levels that trigger breakpoints or the amounts of breakpoints triggered.

After considering all of the information available to it, the Board concluded that it was satisfied with the extent to which economies of scale would be shared for the benefit of the Fund’s shareholders based on currently available information and the effective advisory fees and expense ratios for the Fund at its current and reasonably anticipated asset levels.

Other Benefits

The Board considered other benefits to the Advisers and their affiliates from their relationships with the Fund.

The Board noted that HFMC receives fees for fund accounting and related services from the Fund, and the Board considered information on profits to HFMC for such services. The Board also considered that Hartford Administrative Services Company (“HASCO”), the Fund’s transfer agent and an affiliate of HFMC, receives transfer agency compensation from the Fund, and the Board reviewed information about the

39

The Hartford Alternative Strategies Fund

Approval of Investment Management and Investment Sub-Advisory Agreements (Unaudited) - (continued)

profitability of the Fund’s transfer agency function to HASCO. The Board considered information provided by HASCO in support of HASCO’s assertion that the transfer agent fees charged by HASCO to the Fund were fair and reasonable based on publicly available information. The Board also noted that HFMC and HASCO had delegated certain fund accounting services and transfer agency services, respectively, to external service providers.

The Board considered the benefits, if any, to the Sub-adviser from any use of the Fund’s brokerage commissions to obtain soft dollar research, and representations from HFMC and the Sub-adviser that the Sub-adviser will not make any revenue-sharing payments or any other type of distribution payments to HFMC or its affiliates.

* * * *

Based upon its review of these various factors, among others, the Board concluded that it is in the best interests of the Fund and its shareholders for the Board to approve the Agreements for an additional year. In reaching this decision, the Board did not assign relative weights to the factors discussed above or deem any one or group of them to be controlling in and of themselves. In connection with their deliberations, the Independent Trustees met separately in executive session on several occasions, with independent legal counsel and the Consultant, to review the relevant materials and consider their responsibilities under relevant laws and regulations.

40

The Hartford Alternative Strategies Fund

Main Risks (Unaudited)

The main risks of investing in the Fund are described below. The Fund’s Prospectus contains further information on the risks applicable to the Fund.

Market, Selection and Strategy Risk: The Fund’s share price may fluctuate due to market risk and/or security selections that may underperform the market or relevant benchmarks. If the sub-adviser’s investment strategy does not perform as expected, the Fund could underperform its peers or lose money. There is no guarantee the Fund will achieve its stated objective.

Asset Allocation Strategy Risk: The portfolio managers’ asset allocation strategy may not always work as intended, and asset allocation does not guarantee better performance or reduce the risk of investment loss.

Fixed Income Risk: The Fund is subject to interest rate risk (the risk that the value of an investment decreases when interest rates rise), credit risk (the risk that the issuing company of a security is unable to pay interest and principal when due) and call risk (the risk that an investment may be redeemed early).

Foreign Investment and Emerging Markets Risk: Investments in foreign securities may be riskier than investments in U.S. securities. Potential risks include the risks of illiquidity, increased price volatility, less government regulation, less extensive and less frequent accounting and other reporting requirements, unfavorable changes in currency exchange rates, and economic and political disruptions. These risks are generally greater for investments in emerging markets.

Derivatives Risk: Investments in derivatives can be volatile. Potential risks include currency risk, leverage risk (the risk that small market movements may result in large changes in the value of an investment), liquidity risk, index risk, pricing risk, and counterparty risk (the risk that the counterparty may be unwilling or unable to honor its obligations).

Commodities Risk: Investments in commodities may be more volatile than investments in traditional securities.

Structured Securities Risk: Structured securities are typically sold in private placement transactions, and there currently is no active trading market for structured securities, which may make them difficult to value and sell.

Active Trading Risk: Actively trading investments may result in higher costs and higher taxable income.

Real Estate Related Securities Risk: The main risk of real estate related securities is that the value of the underlying real estate may go down. Many factors may affect real estate values, including the general and local economies, the amount of new construction in a particular area, the laws and regulations (including zoning and tax laws) affecting real estate and the costs of owning, maintaining and improving real estate. The availability of mortgages and changes in interest rates may also affect real estate values. Further, the real estate industry is particularly sensitive to economic downturns. If the Fund’s real estate related investments are concentrated in one geographic area or in one property type, the Fund will be particularly subject to the risks associated with that area or property type.

41

THIS PRIVACY POLICY IS NOT PART OF THIS REPORT

Privacy Policy and Practices of The Hartford Financial Services Group, Inc. and its Affiliates

(herein called “we, our, and us”)

This Privacy Policy applies to our United States Operations

We value your trust. We are committed to the responsible:

a) management;

b) use; and

c) protection;

of Personal Information.

This notice describes how we collect, disclose, and protect Personal Information.

We collect Personal Information to:

a) service your Transactions with us; and

b) support our business functions.

We may obtain Personal Information from:

a) You;

b) your Transactions with us; and

c) third parties such as a consumer-reporting agency.

Based on the type of product or service You apply for or get from us, Personal Information such as:

a) your name;

b) your address;

c) your income;

d) your payment; or

e) your credit history;

may be gathered from sources such as applications, Transactions, and consumer reports.

To serve You and service our business, we may share certain Personal Information. We will share Personal Information, only as allowed by law, with affiliates such as:

a) our insurance companies;

b) our employee agents;

c) our brokerage firms; and

d) our administrators.

As allowed by law, we may share Personal Financial Information with our affiliates to:

a) market our products; or

b) market our services;

to You without providing You with an option to prevent these disclosures.

We may also share Personal Information, only as allowed by law, with unaffiliated third parties including:

a) independent agents;

b) brokerage firms;

c) insurance companies;

d) administrators; and

e) service providers;

who help us serve You and service our business.

When allowed by law, we may share certain Personal Financial Information with other unaffiliated third parties who assist us by performing services or functions such as:

a) taking surveys;

b) marketing our products or services; or

c) offering financial products or services under a joint agreement between us and one or more financial institutions.

We, and third parties we partner with, may track some of the pages You visit through the use of:

a) cookies;

b) pixel tagging; or

c) other technologies;

and currently do not process or comply with any web browser’s “do not track” signal or other similar mechanism that indicates a request to disable online tracking of individual users who visit our websites or use our services.

We will not sell or share your Personal Financial Information with anyone for purposes unrelated to our business functions without offering You the opportunity to:

a) “opt-out;” or

b) “opt-in;”

as required by law.

We only disclose Personal Health Information with:

a) your proper written authorization; or

b) as otherwise allowed or required by law.

Our employees have access to Personal Information in the course of doing their jobs, such as:

a) underwriting policies;

b) paying claims;

c) developing new products; or

d) advising customers of our products and services.

We use manual and electronic security procedures to maintain:

a) the confidentiality; and

b) the integrity of;

Personal Information that we have. We use these procedures to guard against unauthorized access.

Some techniques we use to protect Personal Information include:

a) secured files;

b) user authentication;

c) encryption;

d) firewall technology; and

e) the use of detection software.

We are responsible for and must:

a) identify information to be protected;

b) provide an adequate level of protection for that data;

c) grant access to protected data only to those people who must use it in the performance of their job-related duties.

Employees who violate our Privacy Policy will be subject to discipline, which may include ending their employment with us.

At the start of our business relationship, we will give You a copy of our current Privacy Policy.

We will also give You a copy of our current Privacy Policy once a year if You maintain a continuing business relationship with us.

We will continue to follow our Privacy Policy regarding Personal Information even when a business relationship no longer exists between us.

As used in this Privacy Notice:

Application means your request for our product or service.

Personal Financial Information means financial information such as:

a) credit history;

b) income;

c) financial benefits; or

d) policy or claim information.

Personal Health Information means health information such as:

a) your medical records; or

b) information about your illness, disability or injury.

Personal Information means information that identifies You personally and is not otherwise available to the public. It includes:

a) Personal Financial Information; and

b) Personal Health Information.

Transaction means your business dealings with us, such as:

a) your Application;

b) your request for us to pay a claim; and

c) your request for us to take an action on your account.

You means an individual who has given us Personal Information in conjunction with:

a) asking about;

b) applying for; or

c) obtaining;

a financial product or service from us if the product or service is used mainly for personal, family, or household purposes.

This Privacy Policy is being provided on behalf of the following affiliates of The Hartford Financial Services Group, Inc.:

1stAGChoice, Inc.; Access CoverageCorp, Inc.; Access CoverageCorp Technologies, Inc.; American Maturity Life Insurance Company; Archway 60 R, LLC; Business Management Group, Inc.; DMS R, LLC; First State Insurance Company; Fountain Investors I LLC; Fountain Investors II LLC; Fountain Investors III LLC; Fountain Investors IV LLC; FTC Resolution Company LLC; Hart Re Group L.L.C.; Hartford Accident and Indemnity Company; Hartford Administrative Services Company; Hartford Casualty General Agency, Inc.; Hartford Casualty Insurance Company; Hartford Financial Services, LLC; Hartford Fire General Agency, Inc.; Hartford Fire Insurance Company; Hartford Funds Distributors, LLC; Hartford Funds Management Company, LLC; Hartford Funds Management Group, Inc.; Hartford Holdings, Inc.; Hartford HLS Series Fund II, Inc.; Hartford Insurance Company of Illinois; Hartford Insurance Company of the Midwest; Hartford Insurance Company of the Southeast; Hartford Integrated Technologies, Inc.; Hartford International Life Reassurance Corporation; Hartford Investment Management Company; Hartford Life and Accident Insurance Company; Hartford Life and Annuity Insurance Company; Hartford Life Insurance Company; Hartford Life, Inc.; Hartford Life International Holding Company; Hartford Life Private Placement, LLC; Hartford Lloyd’s Corporation; Hartford Lloyd’s Insurance Company; Hartford of Texas General Agency, Inc.; Hartford Residual Market, L.C.C.; Hartford Securities Distribution Company, Inc.; Hartford Series Fund, Inc.; Hartford Specialty Insurance Services of Texas, LLC; Hartford Strategic Investments, LLC; Hartford Underwriters General Agency, Inc.; Hartford Underwriters Insurance Company; Hartford-Comprehensive Employee Benefit Service Company; HDC R, LLC; Heritage Holdings, Inc.; HIMCO Distribution Services Company; HIMCO Variable Insurance Trust; HLA LLC; HL Investment Advisors, LLC; Horizon Management Group, LLC; HRA Brokerage Services, Inc.; Lanidex Class B, LLC; New England Insurance Company; New England Reinsurance Corporation; Nutmeg Insurance Agency, Inc.; Nutmeg Insurance Company; Pacific Insurance Company, Limited; Planco, LLC; Property and Casualty Insurance Company of Hartford; Revere R, LLC; RVR R, LLC; Sentinel Insurance Company, Ltd.; Sunstone R, LLC; Symphony R, LLC; The Evergreen Group Incorporated; The Hartford Alternative Strategies Fund; The Hartford Mutual Funds, Inc.; The Hartford Mutual Funds II, Inc.; Trumbull Flood Management, L.L.C.; Trumbull Insurance Company; Twin City Fire Insurance Company.

HPP Revised February 2015

Item 2. Code of Ethics.

(a) The registrant, as of the end of the period covered by this report, has adopted a code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party. A copy of the code of ethics is filed herewith.

(c) There have been no amendments, during the period covered by this report, to a provision of the code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party, and that relates to any element of the code of ethics description.

(d) The registrant has not granted any waivers, including an implicit waiver, from a provision of the code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party, that relates to one or more of the items set forth in paragraph (b) of this item’s instructions.

Item 3. Audit Committee Financial Expert.

The Board of Trustees of the Registrant has designated Phillip O. Peterson as an Audit Committee Financial Expert. Mr. Peterson is considered by the Board to be an independent director.

Item 4. Principal Accountant Fees and Services.

(a) Audit Fees: The aggregate fees billed for each of the last two fiscal years for professional services rendered by the principal accountant for the audit of the registrant’s annual financial statements or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements for those fiscal years were:

$16,953 for the fiscal year ended October 31, 2014; $18,330 for the fiscal year ended October 31, 2015.

(b) Audit Related Fees: The aggregate fees billed in each of the last two fiscal years for assurance and related services by the principal accountant that are reasonably related to the performance of the audit of the registrant’s financial statements and are not reported under paragraph (a) of this Item were:

$610 for the fiscal year ended October 31, 2014; $662 for the fiscal year ended October 31, 2015. Audit-related services principally in connection with Rule 17Ad-13 under the Securities and Exchange Act of 1934.

(c) Tax Fees: The aggregate fees billed in each of the last two fiscal years for professional services rendered by the principal accountant for tax compliance, tax advice, and tax planning were:

$4,721 for the fiscal year ended October 31, 2014; $5,746 for the fiscal year ended October 31, 2015. Tax-related services are principally in connection with, but not limited to, general tax services, excise tax and Passive Foreign Investment Company (PFIC) analysis.

(d) All Other Fees: The aggregate fees billed in each of the last two fiscal years for products and services provided by the principal accountant, other than the services reported in paragraphs (a) through (c) of this Item were:

$0 for the fiscal year ended October 31, 2014; $0 for the fiscal year ended October 31, 2015.

(e) (1) The Pre-Approval Policies and Procedures (the “Policy”) adopted by the Audit Committee of the Registrant (also, the “Fund”) sets forth the procedures pursuant to which services performed by the independent registered public accounting firm for the Registrant may be pre-approved. The following are some main provisions from the Policy.

1. The Audit Committee must pre-approve all audit services and non-audit services that the independent registered public accounting firm provides to the Fund.

2. The Audit Committee must pre-approve any engagement of the independent registered public accounting firm to provide non-audit services to any Service Affiliate (which is defined to include any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the Fund) during the period of the independent registered public accounting firm’s engagement to provide audit services to the Fund, if the non-audit services to the Service Affiliate directly impact the Fund’s operations and financial reporting.

3. The Audit Committee shall pre-approve certain non-audit services to the Fund and its Service Affiliates pursuant to procedures set forth in the Policy.

4. The Audit Committee, from time to time, may designate one or more of its members who are Independent Directors (each a “Designated Member”) to consider, on the Audit Committee’s behalf, any non-audit services, whether to the Fund or to any Service Affiliate, that have not been pre-approved by the Audit Committee. The Designated Member also shall review, on the Audit Committee’s behalf, any proposed material change in the nature or extent of any non-audit services previously approved. In considering any requested non-audit services or proposed material change in such services, the Designated Member shall not authorize services which would exceed $50,000 in fees for such services.

5. The independent registered public accounting firm may not provide specified prohibited non-audit services set forth in the Policy to the Fund, the Fund’s investment adviser, the Service Affiliates or any other member of the investment company complex.

(e) (2) One hundred percent of the services described in items 4(b) through 4(d) were approved in accordance with the Audit Committee’s Pre-Approval Policy. As a result, none of such services was approved pursuant to paragraph (c) (7) (i) (c) of Rule 2-01 of Regulation S-X.

(f) None of the hours expended on the principal accountant’s engagement to audit the registrant’s financial statements for the year ended October 31, 2015, were attributed to work performed by persons other than the principal accountant’s full-time, permanent employees.

(g) The aggregate non-audit fees billed by the registrant’s accountant for services rendered to the registrant, and rendered to the registrant’s investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the adviser that provides ongoing services to the registrant for each of the last two fiscal years of the registrant were:

Non-Audit Fees: $1,422,085 for the fiscal year ended October 31, 2014; $1,852,504 for the fiscal year ended October 31, 2015.

(h) The registrant’s audit committee of the board of directors has considered whether the provision of non-audit services that were rendered to the registrant’s investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the registrant that were not pre-approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X is compatible with maintaining the principal accountant’s independence.

Item 5. Audit Committee of Listed Registrants.

Not applicable

Item 6. Investments.

(a) The Schedule of Investments in securities of unaffiliated issuers as of the close of the reporting period is included as part of the annual report filed under Item 1 of this form.

(b) Not applicable.

Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.

Not applicable.

Item 8. Portfolio Managers of Closed-End Management Investment Companies.

Not applicable.

Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.

Not applicable.

Item 10. Submission of Matters to a Vote of Security Holders.

There have been no material changes to the procedures by which shareholders may recommend nominees to the registrant’s board of trustees since registrant last provided disclosure in response to this requirement.

Item 11. Controls and Procedures.

(a) The registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”) (17 CFR 270.30a-3(c))) are generally effective to provide reasonable assurance, as of a date within 90

days of the filing date of the report that includes the disclosure required by this paragraph, based on their evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended (17 CFR 240.13a-15(b) or 240.15d-15(b)).

(b) There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the registrant’s second fiscal quarter of the period covered by this report that have materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 12. Exhibits.

(a)(1) Code of Ethics

(a)(2) Separate certifications for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the 1940 Act (17 CFR 270.30a-2(a)) and Section 302 of the Sarbanes-Oxley Act of 2002 are attached hereto.

(a)(3) Not applicable.

(b) Certifications pursuant to Rule 30a-2(b) under the 1940 Act and Section 906 of the Sarbanes-Oxley Act of 2002 are attached hereto.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	THE HARTFORD ALTERNATIVE STRATEGIES FUND
Date:  January 11, 2016	By:	/s/ James E. Davey
		James E. Davey, President and
		Chief Executive Officer

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

Date:  January 11, 2016	By:	/s/ James E. Davey
		James E. Davey, President and Chief Executive Officer
Date:  January 11, 2016	By:	/s/ Michael Flook
		Michael Flook, Vice President, Treasurer and Controller