HARTFORD MUTUAL FUNDS II, INC.

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.

A MESSAGE FROM THE PRESIDENT

Dear Shareholders:

Thank you for investing in Hartford Mutual Funds. The following is the Funds’ Annual Report covering the period from November 1, 2021 through October 31, 2022.

Market Review

During the 12 months ended October 31, 2022, U.S. stocks, as measured by the S&P 500 Index,¹ lost 14.61%. The decline was an unsettling reminder that equities have experienced an exceptionally volatile period marked by persistent inflation, the U.S. Federal Reserve (Fed) interest rate increases, and, lately, growing fears of recession.

Many investors would prefer to remember the brief period from late-June to late-August in 2022 when stocks came off their June 2022 lows for the year and climbed on hopes of a pause in the Fed’s interest-rate increases. But Fed Chair Jerome Powell’s Jackson Hole speech on August 26, 2022, made it clear the Fed would not be backing off its campaign of rate hikes until it felt inflation had been brought under control. The mid-summer rally quickly faded as Powell’s words sank in and as the August 2022 Consumer Price Index (CPI)² report of 8.3% annual inflation appeared to stiffen the Fed’s resolve. The CPI’s small retreat to 8.2% in September 2022 produced no change in Fed sentiment.

With all the volatility we’ve seen these past 12 months, it may seem hard to believe that markets at the start of the period were, in fact, on their way to setting new positive records. Even as the Fed had begun expressing concerns in late 2021 over the likely persistence of inflation, the S&P 500 Index was on a steady climb on its way to a record high as of January 3, 2022.

As inflation numbers steadily worsened, Fed policymakers acknowledged that higher prices wouldn't be as transitory as they would have hoped. Soon thereafter, the Fed embarked on a cycle of rate hikes and Treasury balance-sheet reductions designed to slow the economy and soak up the massive amounts of liquidity put in place to support a faltering economy.

Any review of the period would be incomplete without noting the impact of the February 24, 2022 invasion of Ukraine by Russia’s armed forces, a decision that continues to threaten global security and strain worldwide food and energy supplies. With the continued backdrop of geopolitical instability, the Fed kept its anti-inflationary policy stance in focus in March 2022 by enacting a quarter-percent increase in the federal funds rate.

After a surprise jump in consumer prices in May 2022, the Fed in June 2022 raised rates by three-quarters of a percent. Although declining gasoline prices offered consumers a measure of relief during the summer, core inflation, which excludes volatile food and energy prices, remained persistently high as the period came to an end. As the Fed added another three-quarter-percent rate hike in September and October 2022, markets remained highly volatile.

As we approach the winter months, recession concerns are likely to grow as a result of the impact of Fed rate hikes on labor markets, currencies, and corporate profits. With market volatility likely to persist, it’s more important than ever to maintain a strong relationship with your financial professional.

Thank you again for investing in Hartford Mutual Funds. For the most up-to-date information on our funds, please take advantage of all the resources available at hartfordfunds.com.

James Davey
President
Hartford Funds

¹	S&P 500 Index is a market capitalization-weighted price index composed of 500 widely held common stocks. The index is unmanaged and not available for direct investment. Past performance does not guarantee future results.

²	The Consumer Price Index (CPI) in the United States is defined by the Bureau of Labor Statistics as a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services.

Hartford Schroders Funds

Table of Contents


Fund Overview (Unaudited)	2
Benchmark Glossary (Unaudited)	43
Expense Examples (Unaudited)	45
Financial Statements:
Schedules of Investments:
Hartford Schroders China A Fund	48
Hartford Schroders Diversified Emerging Markets Fund	50
Hartford Schroders Emerging Markets Equity Fund	54
Hartford Schroders Emerging Markets Multi-Sector Bond Fund	57
Hartford Schroders International Contrarian Value Fund	62
Hartford Schroders International Multi-Cap Value Fund	64
Hartford Schroders International Stock Fund	71
Hartford Schroders Securitized Income Fund	73
Hartford Schroders Sustainable International Core Fund	76
Hartford Schroders Tax-Aware Bond Fund	78
Hartford Schroders US MidCap Opportunities Fund	83
Hartford Schroders US Small Cap Opportunities Fund	85
Glossary	88
Statements of Assets and Liabilities	89
Statements of Operations	95
Statements of Changes in Net Assets	100
Financial Highlights	106
Notes to Financial Statements	117
Report of Independent Registered Public Accounting Firm	148
Operation of the Liquidity Risk Management Program (Unaudited)	150
Directors and Officers (Unaudited)	151
How to Obtain a Copy of each Fund’s Proxy Voting Policies and Voting Records (Unaudited)	154
Quarterly Portfolio Holdings Information (Unaudited)	154
Approval of Investment Management and Investment Sub-Advisory Agreements (Unaudited)	155

The views expressed in each Fund’s Manager Discussion contained in the Fund Overview section are views of that Fund’s portfolio manager(s) through the end of the period and are subject to change based on market and other conditions, and we disclaim any responsibility to update the views contained herein. These views may contain statements that are “forward-looking” statements. Actual results may differ materially from those projected in the “forward-looking” statements. Each Fund’s Manager Discussion is for informational purposes only and does not represent an offer, recommendation or solicitation to buy, hold or sell any security. The specific securities identified and described, if any, do not represent all of the securities purchased or sold and you should not assume that investments in the securities identified and discussed will be profitable. Holdings and characteristics are subject to change. With the exception of Hartford Schroders Diversified Emerging Markets Fund, Hartford Schroders International Contrarian Value Fund, and Hartford Schroders Sustainable International Core Fund, Fund performance reflected in each Fund’s Manager Discussion reflects the returns of such Fund’s Class A shares, before sales charges, and returns for such Fund’s other classes differ only to the extent that the classes do not have the same expenses. Fund performance reflected in the Manager Discussion for each of Hartford Schroders Diversified Emerging Markets Fund, Hartford Schroders International Contrarian Value Fund, and Hartford Schroders Sustainable International Core Fund reflect the returns of such Fund's Class SDR shares and returns for such Fund’s other classes differ only to the extent that the classes do not have the same expenses.

Table of Contents

Hartford Schroders China A Fund

Fund Overview
October 31, 2022 (Unaudited)

Inception 03/31/2020
Sub-advised by Schroder Investment Management North America Inc. and its
sub-sub-adviser, Schroder Investment Management North America Limited

Investment objective – The Fund seeks long-term capital appreciation.

Comparison of Change in Value of $10,000 Investment (03/31/2020 - 10/31/2022)

The chart above represents the hypothetical growth of a $10,000 investment in Class A, which includes the maximum sales charge applicable to Class A shares. Returns for the Fund’s other classes will vary from what is seen above due to differences in the expenses charged to those share classes.

Average Annual Total Returns
for the Periods Ended 10/31/2022
	1 Year	Since Inception¹
Class A²	-35.01%	4.75%
Class A³	-38.58%	2.48%
Class C²	-34.97%	4.25%
Class C⁴	-35.61%	4.25%
Class I²	-34.86%	4.99%
Class Y²	-34.77%	5.08%
Class F²	-34.71%	5.17%
Class SDR²	-34.75%	5.17%
MSCI China A Onshore Index (Net)	-34.78%	1.51%

¹	Inception: 03/31/2020
²	Without sales charge
³	Reflects maximum sales charge of 5.50%
⁴	Reflects a contingent deferred sales charge of 1.00%

PERFORMANCE DATA QUOTED REPRESENTS PAST PERFORMANCE AND DOES NOT GUARANTEE FUTURE RESULTS. The investment return and principal value of the investment will fluctuate so that investors’ shares, when redeemed, may be worth more or less than their original cost. The chart and table do not reflect the deductions of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares. Current performance may be lower or higher than the performance data quoted. To obtain performance data current to the most recent month-end, please visit our website hartfordfunds.com.

Total returns presented above were calculated using the applicable class' net asset value available to shareholders for sale or redemption of Fund shares on 10/31/2022, which may exclude investment transactions as of this date. All share class returns assume the reinvestment of all distributions at net asset value and the deduction of all fund expenses. The total returns presented in the Financial Highlights section of the report are calculated in the same manner, but also take into account certain

adjustments that are necessary under generally accepted accounting principles. As a result, the total returns in the Financial Highlights section may differ from the total returns presented above.

You cannot invest directly in an index.

See "Benchmark Glossary" for benchmark descriptions.

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

Operating Expenses^*	Gross	Net
Class A	1.94%	1.45%
Class C	2.66%	2.25%
Class I	1.65%	1.15%
Class Y	1.65%	1.11%
Class F	1.54%	0.99%
Class SDR	1.54%	0.99%

Expenses as shown in the Fund’s most recent prospectus. Gross expenses do not reflect contractual expense reimbursement arrangements. Net expenses reflect such arrangements in instances when they reduce gross expenses. These arrangements remain in effect until 02/28/2023 unless the Fund’s Board of Directors approves an earlier termination. Actual expenses may be higher or lower. Please see accompanying Financial Highlights for expense ratios for the period ended 10/31/2022.

Table of Contents

Hartford Schroders China A Fund

Fund Overview – (continued)
October 31, 2022 (Unaudited)

Portfolio Manager

Hartford Schroders China A Fund’s sub-adviser is Schroder Investment Management North America Inc. and its sub-sub-adviser is Schroder Investment Management North America Limited.

Jack Lee, CFA

Portfolio Manager

Manager Discussion

How did the Fund perform during the period?

The Class A shares of the Hartford Schroders China A Fund returned -35.01%, before sales charges, for the twelve-month period ended October 31, 2022, underperforming the Fund’s benchmark, the MSCI China A Onshore Index (Net), which returned -34.78% for the same period. For the same period, the Class A shares of the Fund, before sales charges, outperformed the -43.78% average return of the Lipper China Region peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

Chinese equities markets declined in the final months of 2021 amid constant regional COVID-19 outbreaks in China. China’s “zero COVID” policy continued to trigger a series of sporadic lockdowns in major cities, which put a damper on consumer confidence and domestic demand. Additionally, the ongoing liquidity concerns around Chinese property developers and the heightened U.S.-China relations also depressed market sentiment somewhat. The markets remained volatile entering into 2022, as they continued to be driven by macroeconomic factors including the outlook for U.S. interest rates, geopolitical tensions, and the outbreak of the Omicron strain of COVID-19 in China. Although the market rebounded briefly in mid-March 2022 on positive policy guidance from policymakers, overall sentiment towards the China market remained weak in the remaining months of the period given the concerns around COVID lockdowns and their longer-term impact on the economy. The closely watched Chinese Communist Party 20th Congress also concluded in October 2022, which reinforced President Xi’s authority but failed to signal any near-term easing of the country’s “zero-COVID” policy.

Outside of China, the macroeconomic backdrop continued to be increasingly challenging during the period. Global growth momentum seemed to be softening, inflation proxies remained elevated on high commodity prices and lingering supply-chain issues, and central banks and governments globally took steps to normalize monetary policy by withdrawing stimulus at a record-matching pace. The divergence in the monetary-policy trajectories between China and the U.S. during the period caused the Chinese renminbi to decline against the U.S. dollar, which was not favorable to the Chinese market.

During the period, the Fund delivered negative returns while performing broadly in line with the MSCI China A Onshore Index (Net). Sector allocation effect was positive, driven by the Fund’s underweight exposure to the Consumer Staples and Industrials sectors, as well as an overweight exposure to the Healthcare sector. Cash allocation in

the down market also had a positive impact. Stock selection was mostly neutral, as positive selection in the Technology and Healthcare sectors was offset by weak selection in the Financials sector.

At the stock level, satellite image processing software provider Piesat Information was the top contributor, thanks to the strong growth in revenue and earnings driven by the boom in China’s remote sensing satellite industry. Medical equipment manufacturer Micro-Tech advanced on expectations that the Chinese government will spend more on hospital infrastructure going forward. Real estate company Poly Development also contributed positively to Fund performance, as investors believed the company could benefit from the reshaping of the industry landscape given its strong balance sheet and state-owned background. On the negative side, bakery shop Toly Bread underperformed as its business was severely impacted by the recurring COVID lockdowns in China. New media service provider Mango Excellent underperformed because its business, especially the advertising side, was impacted by the depressing macro environment. Lastly, ceramic material producer Shandong Sinocera traded lower as demand for consumer electronic products was weak amid the downcycle in the tech industry.

During the period, the Fund used p-notes and non-standard warrants, which are types of derivatives, to gain access to the broader A-share universe. These derivatives had no material impact on the Fund's overall performance for the period.

What is the outlook as of the end of the period?

As of the end of the period, China’s markets remained depressed by the twin overhangs of the “dynamic-zero-COVID” policy and the ongoing contraction in real estate activity, both of which have negatively affected economic activity and seriously impacted earnings in many sectors of the market.

Against the weak macroeconomic backdrop, we have started to see more policy measures announced to support the real estate market, increase infrastructure investment, and encourage consumption.

Although it seems unlikely that restrictive COVID-19 policies will soften much in the near term, in the last few months markets have started to anticipate a return to normalcy in the medium term. There is some hope that the Shanghai lockdown-related weakness could represent the low point for growth in this market cycle and mark the peak of restrictions. In our view, year-on-year comparisons should also look better as we head towards 2023, and a stronger rebound in activity may occur, as the authorities may become more relaxed about the downside risks from easing controls.

Looking ahead, we expect that policy implementation in line with President Xi’s stated policy priorities should accelerate after the

Table of Contents

Hartford Schroders China A Fund

Fund Overview – (continued)
October 31, 2022 (Unaudited)

change of leadership in China. We also expect a ramp-up of supporting policies, which may support China's domestic growth. More details of economic policy from the new leadership team will likely be available in the Central Economic Work Conference in late December 2022. Before that, the market is likely to continue to consolidate as domestic and external uncertainties continue without much clarity in sight.

China reopening and the possibility of a pivot by the Federal Reserve to slow down the pace of future interest-rate increases (or a confirmation of an inflation peak in the U.S.) remain the most visible and powerful upside catalysts for the market in early 2023, in our view.

In terms of the Fund’s portfolio strategy, as of the end of the period we have maintained our focus on sectors that we believe will see structural growth over the medium term. As of the end of the period, the Fund is most overweight in the Healthcare sector, as we believe the sector’s risk and reward profile has appeared to become more attractive after the corrections over the past year or so. The sector outlook is still well underpinned by the structural increase in government spending on healthcare equipment/products. As of the end of the period, we still favor select domestic Chinese consumer-facing businesses with strong brand value and pricing power. We also like the Technology sector as of the end of the period, believing it should benefit from the “new infrastructure” initiative, localization, and the structural increase in renewables in the medium term given carbon neutrality goals globally. Alongside these structural growth companies in the Fund’s portfolio are exposures to more cyclical businesses (petrochemical and select material names) that we believe help to balance the overall portfolio.

Important Risks

Investing involves risk, including the possible loss of principal. Security prices fluctuate in value depending on general market and economic conditions and the prospects of individual companies. ●The Fund invests in China A shares through Stock Connect, which is subject to a number of restrictions that may affect the Fund’s investments and returns. To the extent the Fund invests in China A shares listed on the Science and Technology Innovation Board of the Shanghai stock exchange and/or the ChiNext market of the Shenzhen stock exchange, the risks are heightened. • Risks associated with investments in China include currency fluctuation, political, economic, social, environmental, regulatory and other risks, including risks associated with differing legal standards. Focusing investments in China subjects the Fund to more volatility and greater risk of loss than a fund with more geographically diverse investments. • Foreign investments may be more volatile and less liquid than U.S. investments and are subject to the risk of currency fluctuations and adverse political, economic and regulatory developments. These risks may be greater, and include additional risks, for investments in emerging markets, such as China. • Integration of environmental, social, and/or governance (ESG) characteristics into the investment process may not work as intended. • Small- and mid-cap securities can have greater risks and volatility than large-cap securities. • Derivatives are generally more volatile and sensitive to changes in market or economic conditions than other securities; their risks include currency, leverage, liquidity, index, pricing, regulatory and counterparty risk. • Because the Fund is non-diversified, it may invest in a smaller number of issuers,

and may be more exposed to risks and volatility than a more broadly diversified fund. • To the extent the Fund focuses on one or more sectors, the Fund may be subject to increased volatility and risk of loss if adverse developments occur. • The Fund may have high portfolio turnover, which could increase its transaction costs and an investor's tax liability.

Composition by Sector⁽¹⁾
as of 10/31/2022
Sector	Percentage of Net Assets
Equity Securities
Communication Services	2.8%
Consumer Discretionary	8.9
Consumer Staples	6.7
Financials	15.2
Health Care	10.6
Industrials	17.7
Information Technology	13.8
Materials	19.0
Real Estate	0.7
Total	95.4%
Short-Term Investments	0.8
Other Assets & Liabilities	3.8
Total	100.0%

⁽¹⁾	A sector may be comprised of several industries. For Fund compliance purposes, the Fund may not use the same classification system. These sector classifications are used for financial reporting purposes.

Table of Contents

Hartford Schroders Diversified Emerging Markets Fund

Fund Overview
October 31, 2022 (Unaudited)

Inception 09/30/2021
Sub-advised by Schroder Investment Management North America Inc. and its sub-sub-adviser, Schroder Investment Management North America Limited

Investment objective – The Fund seeks long-term capital appreciation.

Comparison of Change in Value of $5,000,000 Investment (09/30/2021 - 10/31/2022)

The chart above represents the hypothetical growth of a $5,000,000 investment in Class SDR. Returns for the Fund’s other classes will vary from what is seen above due to differences in the expenses charged to those share classes.

Average Annual Total Returns
for the Periods Ended 10/31/2022
	1 Year	Since Inception¹
Class A²	-31.63%	-28.92%
Class A³	-35.39%	-32.53%
Class C²	-32.03%	-29.30%
Class C⁴	-32.71%	-29.30%
Class I²	-31.43%	-28.73%
Class Y²	-31.43%	-28.73%
Class F²	-31.63%	-28.92%
Class SDR²	-31.63%	-28.92%
MSCI Emerging Markets Index (Net)	-31.03%	-28.19%

¹	Inception: 09/30/2021
²	Without sales charge
³	Reflects maximum sales charge of 5.50%
⁴	Reflects a contingent deferred sales charge of 1.00%

Total returns presented above were calculated using the applicable class' net asset value available to shareholders for sale or redemption of Fund shares on 10/31/2022, which may exclude investment transactions as of this date. The share class returns assume the reinvestment of all distributions at net asset value and the deduction of all fund expenses. The total returns presented in the Financial Highlights section of the report are calculated in the same manner, but also take into account certain

adjustments that are necessary under generally accepted accounting principles. As a result, the total returns in the Financial Highlights section may differ from the total returns presented above.

Classes A, C, I, Y, and F commenced operations on 02/28/2022 and performance prior to that date is that of the Fund’s Class SDR shares. Performance prior to an inception date of a class has not been adjusted to reflect the operating expenses of such class. If the performance were adjusted, it may have been higher or lower.

You cannot invest directly in an index.

See "Benchmark Glossary" for benchmark descriptions.

Operating Expenses^*	Gross	Net
Class A	1.40%	1.34%
Class C	2.14%	2.14%
Class I	1.15%	1.04%
Class Y	1.15%	0.99%
Class F	1.05%	0.89%
Class SDR	1.05%	0.89%

Expenses as shown in the Fund’s most recent prospectus. Gross expenses do not reflect contractual expense reimbursement arrangements. Net expenses reflect such arrangements in instances when they reduce gross expenses. These arrangements remain in effect until 02/28/2023 unless the Fund’s Board of Directors approves an earlier termination. Please see accompanying Financial Highlights for expense ratios for the period ended 10/31/2022.

Table of Contents

Hartford Schroders Diversified Emerging Markets Fund

Fund Overview – (continued)
October 31, 2022 (Unaudited)

Portfolio Managers

Hartford Schroders Diversified Emerging Markets Fund’s sub-adviser is Schroder Investment Management North America Inc. and its sub-sub-adviser is Schroder Investment Management North America Limited.

Tom Wilson, CFA

Portfolio Manager

David Philpotts

Portfolio Manager

Gordon Huang

Portfolio Manager

Manager Discussion

How did the Fund perform during the period?

The Class SDR shares of the Hartford Schroders Diversified Emerging Markets Fund returned -31.63% for the twelve-month period ended October 31, 2022, modestly underperforming the Fund’s benchmark, the MSCI Emerging Markets Index (Net), which returned -31.03% for the period. Over the same period, the Class SDR shares of the Fund outperformed the -32.69% average return of the Lipper Emerging Markets Funds peer group, which is a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

Over the twelve-month period ended October 31, 2022, the emerging-markets equity asset class was under pressure along with broader global equities. Russia’s invasion of Ukraine, the ensuing energy crisis, supply-chain disruptions, China’s zero-Covid policy and regulatory crackdown, and tighter global monetary policy all weighed heavily on investor sentiment. The strength of the U.S. dollar against emerging-market currencies was also detrimental to the Fund’s performance relative to the MSCI Emerging Markets Index (Net) for the period. The sharp underperformance of China over the period chiefly benefited commodity-heavy markets in Latin America and the Middle East, while also benefitting Indian equities, which were regarded as a relative safe haven given India’s more robust economic growth during the period.

In selecting investments for the Fund, we combine both fundamental and quantitative analysis along with our sustainable investing criteria. At the portfolio level, exposure to Europe, the Middle East and Africa (EMEA) and Latin America added value over the twelve-month period. Within EMEA, a sizable underweight to Russia leading up to its unprovoked invasion of Ukraine was additive to relative performance as the market ultimately collapsed and was swiftly removed from the MSCI Emerging Markets Index (Net). Adverse signals from our country risk monitor prompted a timely de-risking of the Fund’s exposure to Russian equities. The United Arab Emirates (UAE) was a positive contributor to Fund performance, as robust oil prices underpinned a relatively upbeat domestic economy. Positions in high-quality, attractively valued banks and a select, well-capitalized diversified property investment & developer also lifted relative performance. The favorable performance outcome in Latin America was primarily driven by an overweight position in Mexico alongside

strong stock selection during the period. In particular, a mix of contributions from high-quality, attractively valued banks and defensive staples (e.g., Kimberly-Clark de Mexico) underpinned relative performance.

However, positioning in Asian emerging markets was an overall detractor from performance during the period, offsetting some of the aforementioned gains. China was a volatile market over the twelve-month period due to rising geopolitical risks related to its relationship with Russia and its intentions towards Taiwan. Moreover, concerns relating to President Xi’s consolidation of power following the Chinese Communist Party’s 20th Congress in October 2022 and his increasing focus on economic security were poorly received by investors. While we maintained a modest underweight to the market, relative performance was negatively impacted by our holdings in internet platform giants Alibaba and JD.com, as well as an insufficient exposure to the outperforming Energy sector. A modest underweight to India also weighed on relative performance during the period, as the market performed strongly despite its lofty valuation.

Brighter spots within the largest region of the MSCI Emerging Markets Index (Net) included Indonesia and South Korea. Indonesia was driven by strong stock selection within banks, benefiting from well-capitalized, quality value opportunities. Exposure to quality cyclicals within the Industrials sector and an underweight to a key internet platform laggard underpinned solid relative performance in South Korea.

Finally, at a broader sector level, the Energy sector was a notable detractor from the Fund’s performance due to a lack of exposure to Brazilian heavyweight Petrobras and an underweight to coal, as the underlying commodity rallied sharply due to supply concerns emanating from the energy crisis. We view the sub-industry as poor-quality cyclical exposure with negative environmental, social and governance (ESG) characteristics.

Derivatives were used within the Fund during the period in the form of index futures, and were only used for efficient management of fund inflows and outflows; these futures had no material impact on overall Fund performance for the period.

Table of Contents

Hartford Schroders Diversified Emerging Markets Fund

Fund Overview – (continued)
October 31, 2022 (Unaudited)

What is the outlook as of the end of the period?

It has been another humbling year for economic forecasters, whether they be investors or central banks. Few predicted the current global backdrop even as short a time ago as the start of the year, most notably the level and persistence of inflation. There still remains an unusually high level of uncertainty about the economic outlook and what this means for global interest rates and currencies.

After having held up relatively well through the summer months, emerging markets finally capitulated in September 2022, with emerging-markets equities, fixed income, foreign currency, and credit all underperforming their developed-market counterparts. However, emerging markets are also further along in their monetary policy tightening cycle, which does provide some comfort, particularly if the dollar is close to peaking. The timing of China’s “re-opening” is also a significant “known unknown,” but this seems a pre-requisite for a firmer footing, in our view. We believe there is good value in emerging markets, but it is scarcer than simple valuation multiples suggest due to the greater risks, most notably their inherent cyclicality.

As investors wait for greater clarity, we believe the path of least resistance is probably for a range-bound market (i.e., a market that trades within a certain range) with further downside likely if earnings disappoint expectations or if inflation remains more stubborn than expected. This backdrop reinforces our defensive positioning for the Fund. Fortunately, as of the end of the period, we believe there are opportunities to find quality stocks at reasonable prices. We believe this also offers a natural hedge against such an uncertain environment. But we are also wary of the potential for a pivot by the U.S. Federal Reserve.

More broadly, we still expect stock selection to be more nuanced in the near term than we saw during the 2017-2020 thematic “growth at any price” period. We believe markets will be driven more by the progression of earnings as opposed to multiple expansion as was the case from 2017 to 2020. In our view, companies that the market favored during that period now offer better value but are still not exceptionally cheap, particularly given ongoing regulatory risks and geopolitical tensions. In contrast, in our view, stocks exhibiting both quality and value characteristics still have a way to run for valuations to normalize even before considering their recession-proofing potential.

Finally, we would stress that, given the prospect of ongoing short-term volatility, we believe it is more important than ever to stay true to our investment process. In the short term, we remain disciplined in seeking to find opportunities during periods of excess volatility by trading little but often back to target stock weights.

Important Risks

Investing involves risk, including the possible loss of principal. Security prices fluctuate in value depending on general market and economic conditions and the prospects of individual companies. • Foreign investments may be more volatile and less liquid than U.S. investments and are subject to the risk of currency fluctuations and adverse political, economic and regulatory developments. These risks may be greater, and include additional risks, for investments in emerging markets or if the Fund focuses in a particular geographic region or

country, such as China. • Risks associated with investments in China include currency fluctuation, political, economic, social, environmental, regulatory and other risks, including risks associated with differing legal standards. • Small- and mid-cap securities can have greater risks and volatility than large-cap securities. • Derivatives are generally more volatile and sensitive to changes in market or economic conditions than other securities; their risks include currency, leverage, liquidity, index, pricing, regulatory and counterparty risk. • Applying sustainability criteria to the investment process may result in foregoing certain investments and underperformance comparative to funds that do not have a similar focus. There is a risk that the securities identified by the sub-adviser as meeting its sustainable investing criteria do not operate as anticipated. • The Fund may have high portfolio turnover, which could increase its transaction costs and an investor's tax liability.

Composition by Sector⁽¹⁾
as of 10/31/2022
Sector	Percentage of Net Assets
Equity Securities
Communication Services	12.4%
Consumer Discretionary	10.0
Consumer Staples	6.4
Energy	4.0
Financials	26.5
Health Care	3.8
Industrials	4.6
Information Technology	23.6
Materials	5.9
Real Estate	0.4
Utilities	0.8
Total	98.4%
Short-Term Investments	1.0
Other Assets & Liabilities	0.6
Total	100.0%

⁽¹⁾	A sector may be comprised of several industries. For Fund compliance purposes, the Fund may not use the same classification system. These sector classifications are used for financial reporting purposes.

Table of Contents

Hartford Schroders Emerging Markets Equity Fund

Fund Overview
October 31, 2022 (Unaudited)

Inception 03/31/2006
Sub-advised by Schroder Investment Management North America Inc. and its
sub-sub-adviser, Schroder Investment Management North America Limited

Investment objective – The Fund seeks capital appreciation.

Comparison of Change in Value of $10,000 Investment (10/31/2012 - 10/31/2022)

Average Annual Total Returns
for the Periods Ended 10/31/2022
	1 Year	5 Years	10 Years
Class A¹	-33.86%	-3.10%	1.06%
Class A²	-37.51%	-4.19%	0.49%
Class C¹	-34.26%	-3.75%	0.75%
Class C³	-34.91%	-3.75%	0.75%
Class I¹	-33.63%	-2.86%	1.31%
Class R3¹	-33.94%	-3.29%	1.05%
Class R4¹	-33.81%	-2.98%	1.21%
Class R5¹	-33.62%	-2.82%	1.33%
Class Y¹	-33.62%	-2.77%	1.37%
Class F¹	-33.55%	-2.68%	1.40%
Class SDR¹	-33.50%	-2.68%	1.44%
MSCI Emerging Markets Index (Net)	-31.03%	-3.09%	0.79%

¹	Without sales charge
²	Reflects maximum sales charge of 5.50%
³	Reflects a contingent deferred sales charge of 1.00%

adjustments that are necessary under generally accepted accounting principles. As a result, the total returns in the Financial Highlights section may differ from the total returns presented above.

Effective immediately before the opening of business on 10/24/2016, the Schroder Emerging Market Equity Fund (the “Predecessor Fund”) was reorganized into the Fund. The performance information shown for periods prior to 10/24/2016 is that of the Predecessor Fund. Prior to 10/24/2016, Class A, Class I and Class SDR were called Advisor Shares, Investor Shares and R6 Shares, respectively. Class C, Class R3, Class R4, Class R5, and Class Y shares commenced operations on 10/24/2016 and performance prior to this date reflects the performance of the Predecessor Fund’s Investor Shares. Performance for Class SDR shares prior to 12/30/2014 (the inception date of the Predecessor Fund’s Class R6 Shares) reflects the performance of the Predecessor Fund’s Investor Shares. Class F shares commenced operations on 02/28/2017 and performance prior to that date is that of the Fund’s Class I shares. Performance prior to Class F’s inception date has not been adjusted to reflect the operating expenses of Class F. The returns would be different if the Fund’s fees and expenses were reflected for periods prior to 10/24/2016.

You cannot invest directly in an index.

See "Benchmark Glossary" for benchmark descriptions.

Performance information may reflect expense waivers/reimbursements without which performance would have been lower.

Effective as of the close of business on 04/15/2021, the Fund was closed to new investors, subject to certain exceptions. For more information, please see the Fund’s prospectus.

Table of Contents

Hartford Schroders Emerging Markets Equity Fund

Fund Overview – (continued)
October 31, 2022 (Unaudited)

Operating Expenses^*	Gross	Net
Class A	1.45%	1.45%
Class C	2.14%	2.14%
Class I	1.23%	1.23%
Class R3	1.77%	1.77%
Class R4	1.47%	1.47%
Class R5	1.17%	1.17%
Class Y	1.16%	1.16%
Class F	1.05%	1.05%
Class SDR	1.05%	1.05%

^*	Expenses as shown in the Fund’s most recent prospectus. Actual expenses may be higher or lower. Please see accompanying Financial Highlights for expense ratios for the period ended 10/31/2022.

Portfolio Managers

Hartford Schroders Emerging Markets Equity Fund’s sub-adviser is Schroder Investment Management North America Inc. and its sub-sub-adviser is Schroder Investment Management North America Limited.

Tom Wilson, CFA

Portfolio Manager

Robert Davy

Portfolio Manager

James Gotto

Portfolio Manager

Waj Hashmi, CFA

Portfolio Manager

Nicholas Field

Portfolio Manager

Manager Discussion

How did the Fund perform during the period?

The Class A shares of the Hartford Schroders Emerging Markets Equity Fund returned -33.86%, before sales charges, for the twelve-month period ended October 31, 2022, underperforming the Fund’s benchmark, the MSCI Emerging Markets Index (Net), which returned -31.03% for the same period. For the same period, the Class A shares of the Fund, before sales charges, underperformed the -32.69% average return of the Lipper Emerging Markets Funds peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

Global equities, as measured by the MSCI ACWI Index (Net), recorded a negative return over the twelve-month period ended October 31, 2022, against a backdrop of war in Ukraine, slowing growth, heightened inflationary pressure, and rising interest rates. The MSCI Emerging Markets Index (Net) returned -31.03% during the period, underperforming the MSCI World Index, which returned -18.48% for the same period.

Russian equities fell sharply in the run-up to and in the aftermath of the invasion of Ukraine at the end of February 2022. Russia was removed from the MSCI Emerging Markets Index on March 9, 2022. Hungary and Poland, which border Ukraine, were among the weakest index markets amid concern over the impact of the war on their domestic economies and the risk of escalation of Russia’s actions within the region.

China also lagged the MSCI Emerging Markets Index as COVID-19 lockdowns in key cities were introduced, removed, and then introduced again, hampering domestic demand. A crisis in the Real Estate sector also weighed on sentiment. Towards the end of the period, macroeconomic data began to improve, helped by Chinese authorities’ implementation of various economic support policies. Meanwhile, South Korea and Taiwan underperformed as the outlook for global growth and trade deteriorated during the period.

On the positive side, Brazil outperformed as election-related volatility ended with former President Lula winning a third term in October 2022’s presidential election. Turkey was the best-performing market despite inflation that reached over 80% as the central bank cut interest rates to low double digits over the period.

Table of Contents

Hartford Schroders Emerging Markets Equity Fund

Fund Overview – (continued)
October 31, 2022 (Unaudited)

Over the period, the Fund’s country allocation added to performance, while stock selection detracted from performance.

Russia detracted from relative performance over the period. As mentioned earlier, MSCI removed Russia from its indices on March 9, 2022. Outside of Russia, the overweight position to Brazil was a notable contributor to Fund performance. The Fund’s underweight to China was also beneficial, while cash held in a falling market had a positive impact as well. Stock selection was negative overall, most notably in in China (where the Fund was overweight Great Wall Motors and Xpeng, and lacked an allocation to China Construction Bank) but also in Chile (where the Fund was overweight Falabella, and lacked an allocation to SQM). Conversely, stock selection was positive in Korea (where the Fund was overweight to Samsung SDI and Korea Zinc, with no exposure to Kakao Corp).

Derivatives were not used in a significant manner in the Fund during the period and did not have a material impact on performance during the period.

What is the outlook as of the end of the period?

As of the end of the period, we believe the outlook for global growth remains weak, and the inflation path is unclear as the lagged effects of interest-rate increases from major global central banks feed through. Monetary policy tightening is ongoing, leading to lower global liquidity and tighter financial conditions for emerging markets. The slowdown in global trade and the strong U.S. dollar are further challenges for emerging markets. We believe there is potential for further U.S. dollar strength in the near term, which also poses the risk of renewed financial market stress. The U.S. dollar remains expensive relative to history on a real effective exchange rate basis. Any stabilization or weakness would be beneficial for emerging markets in terms of easing pressure on currencies and financial conditions for emerging markets.

We believe there is also the prospect of a cyclical recovery in economic growth in China in 2023. This may be shallow, but Chinese policy is asynchronous relative to the rest of the world. There is potential, in our view, that COVID-related restrictions are gradually eased as we move through the first half of 2023. Early signs of change in China’s zero-COVD policy may include a marked increase in vaccinations and/or a push to encourage greater vaccination uptake, along with an easing in COVID-related border restrictions.

Emerging-markets valuations in aggregate are cheap versus the long-term median on a forward price-earnings (P/E), price-book (P/B), and dividend yield basis, in our view. That said, on a P/E and P/B basis, the margin of cheapness is not significant in our view, and earnings continue to see downgrades which we believe may persist over the coming few quarters. We believe certain growth equities are selectively interesting but in general remain richly valued. Meanwhile, several cyclical areas screen as cheap but may face further downgrades to earnings, in our view. We believe emerging markets yields and currencies in general remain at attractive levels. Most emerging markets’ external accounts are also in reasonable shape, providing greater resilience to U.S. dollar strength compared with previous episodes, in our view.

Near term, we maintain a cautious outlook but continue to look for opportunities that may present themselves as a function of market stress.

At the end of the period, the Fund was overweight to Korea, Argentina, Brazil, Chile, Mexico, Peru, Egypt, Greece, Hungary, and South Africa relative to the MSCI Emerging Markets Index (Net). The Fund was neutrally positioned in Poland and United Arab Emirates (UAE) relative to the MSCI Emerging Markets Index (Net) as of the end of the period. The Fund was underweight to China, India, Indonesia, Malaysia, Philippines, Taiwan, Thailand, Colombia, Czech Republic, Kuwait, Qatar, Saudi Arabia, and Turkey relative to the MSCI Emerging Markets Index (Net) at the end of the period.

Important Risks

Investing involves risk, including the possible loss of principal. Security prices fluctuate in value depending on general market and economic conditions and the prospects of individual companies. • Foreign investments may be more volatile and less liquid than U.S. investments and are subject to the risk of currency fluctuations and adverse political, economic and regulatory developments. These risks may be greater, and include additional risks, for investments in emerging markets or if the Fund focuses in a particular geographic region or country, such as China. • Risks associated with investments in China include currency fluctuation, political, economic, social, environmental, regulatory and other risks, including risks associated with differing legal standards. • Mid-cap securities can have greater risks and volatility than large-cap securities. • Integration of environmental, social, and/or governance (ESG) characteristics into the investment process may not work as intended. • To the extent the Fund focuses on one or more sectors, the Fund may be subject to increased volatility and risk of loss if adverse developments occur.

Composition by Sector⁽¹⁾
as of 10/31/2022
Sector	Percentage of Net Assets
Equity Securities
Communication Services	9.2%
Consumer Discretionary	11.0
Consumer Staples	5.5
Energy	3.6
Financials	28.1
Health Care	2.9
Industrials	4.8
Information Technology	22.9
Materials	5.3
Real Estate	1.6
Utilities	1.4
Total	96.3%
Short-Term Investments	3.6
Other Assets & Liabilities	0.1
Total	100.0%

⁽¹⁾	A sector may be comprised of several industries. For Fund compliance purposes, the Fund may not use the same classification system. These sector classifications are used for financial reporting purposes.

Table of Contents

Hartford Schroders Emerging Markets Multi-Sector Bond Fund

Fund Overview
October 31, 2022 (Unaudited)

Inception 06/25/2013
Sub-advised by Schroder Investment Management North America Inc. and its sub-sub-adviser, Schroder Investment Management North America Limited

Investment objective – The Fund seeks to provide a return of long-term capital growth and income.

Comparison of Change in Value of $10,000 Investment (06/25/2013 - 10/31/2022)

Average Annual Total Returns
for the Periods Ended 10/31/2022
	1 Year	5 Years	Since Inception¹
Class A²	-20.83%	-3.96%	-0.13%
Class A³	-24.38%	-4.84%	-0.62%
Class C²	-21.38%	-4.70%	-0.56%
Class C⁴	-22.13%	-4.70%	-0.56%
Class I²	-20.56%	-3.70%	0.11%
Class R3²	-21.04%	-4.03%	-0.11%
Class R4²	-20.83%	-3.82%	0.02%
Class R5²	-20.52%	-3.67%	0.12%
Class Y²	-20.52%	-3.64%	0.15%
Class F²	-20.49%	-3.63%	0.14%
Class SDR²	-20.44%	-3.60%	0.20%
JP Morgan Emerging Markets Blended Index (JEMB) – Equal Weighted	-20.83%	-2.08%	0.92%

¹	Inception: 06/25/2013
²	Without sales charge
³	Reflects maximum sales charge of 4.50%
⁴	Reflects a contingent deferred sales charge of 1.00%

fund expenses. The total returns presented in the Financial Highlights section of the report are calculated in the same manner, but also take into account certain adjustments that are necessary under generally accepted accounting principles. As a result, the total returns in the Financial Highlights section may differ from the total returns presented above.

Effective immediately before the opening of business on 10/24/2016, the Schroder Emerging Markets Multi-Sector Bond Fund (the “Predecessor Fund”) was reorganized into the Fund. The performance information shown for periods prior to 10/24/2016 is that of the Predecessor Fund. Prior to 10/24/2016, Class A, Class I and Class SDR were called Advisor Shares, Investor Shares and R6 Shares, respectively. Class C, Class R3, Class R4, Class R5, and Class Y shares commenced operations on 10/24/2016 and performance prior to this date reflects the performance of the Predecessor Fund’s Investor Shares. Performance for Class SDR shares prior to 12/30/2014 (the inception date of the Predecessor Fund’s Class R6 Shares) reflects the performance of the Predecessor Fund’s Investor Shares. Class F shares commenced operations on 02/28/2017 and performance prior to that date is that of the Fund’s Class I shares. Performance prior to Class F’s inception date has not been adjusted to reflect the operating expenses of Class F. The returns would be different if the Fund’s fees and expenses were reflected for periods prior to 10/24/2016.

You cannot invest directly in an index.

See "Benchmark Glossary" for benchmark descriptions.

Table of Contents

Hartford Schroders Emerging Markets Multi-Sector Bond Fund

Fund Overview – (continued)
October 31, 2022 (Unaudited)

Operating Expenses^*	Gross	Net
Class A	1.48%	1.15%
Class C	2.32%	1.90%
Class I	1.16%	0.90%
Class R3	1.79%	1.45%
Class R4	1.49%	1.15%
Class R5	1.19%	0.85%
Class Y	1.18%	0.85%
Class F	1.07%	0.75%
Class SDR	1.07%	0.75%

Portfolio Managers

Hartford Schroders Emerging Markets Multi-Sector Bond Fund’s sub-adviser is Schroder Investment Management North America Inc. and its sub-sub-adviser is Schroder Investment Management North America Limited.

Fernando Grisales, CFA

Portfolio Manager

Autumn Graham

Portfolio Manager

Abdallah Guezour

Portfolio Manager

Manager Discussion

The Class A shares of the Hartford Schroders Emerging Markets Multi-Sector Bond Fund returned -20.83%, before sales charges, for the twelve-month period ended October 31, 2022, performing in line with the Fund’s benchmark, JP Morgan Emerging Markets Blended Index (JEMB) - Equal Weighted, which returned -20.83% for the same period. For the same period, the Class A shares of the Fund, before sales charges, outperformed the -22.43% average return of the Lipper International Emerging Markets Hard Currency Debt peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

Emerging-markets debt, as measured by the JP Morgan Emerging Markets Blended Index (JEMB) - Equal Weighted, returned -20.83% for the twelve-month period ended October 31, 2022. Emerging-markets bonds declined in the fourth quarter of 2021, as developed-markets’ central banks fell behind the actions of their emerging-markets counterparts in terms of monetary tightening and inflation soared across the globe. Tighter monetary policy along with a market sell-off in response to the Russian invasion of Ukraine were the main drivers of emerging markets during the period. Sanctions mounted against Russia throughout the second and third quarters of 2022, as the conflict dragged out much longer than Russia had originally anticipated. In response, Russia restricted access to energy

for parts of Europe, sending energy prices soaring and compounding the already soaring inflation caused by accommodative monetary policies that served to increase liquidity in markets. Emerging-markets bond markets saw rapid outflows throughout the year, as liquidity tightened around the globe in response to these inflationary pressures.

Positioning within local-currency bonds and foreign currency positioning was among the top contributors to the Fund’s performance relative to the JP Morgan Emerging Markets Blended Index (JEMB) - Equal Weighted for the period. Russian local bonds were among the top individual contributors to Fund performance for the period. Initially, the bonds detracted from performance given the Fund’s modest overweight. These bonds were marked to zero and subsequently removed from the JP Morgan Emerging Markets Blended Index (JEMB) - Equal Weighted in March 2022. However, we held onto our exposure due to our belief that we would be able to exit these holdings at more reasonable prices. We were able to exit the Fund’s exposure to Russian local bonds later in the period, which was additive to Fund performance. Throughout the period, the Fund’s holdings in the Corporate Bond sector detracted from performance, led by the Fund’s holdings in Chinese real estate bonds.

Table of Contents

Hartford Schroders Emerging Markets Multi-Sector Bond Fund

Fund Overview – (continued)
October 31, 2022 (Unaudited)

Security selection in the Sovereign sector detracted from performance for the period, with significant negative impacts from Ukrainian and Russian dollar-denominated debt offsetting positive performance elsewhere. Credit default swap (CDS) protection and positions in Chilean debt were among the top contributors to Fund performance during the period. Conversely, the Quasi-Sovereign segment detracted from performance for the period, led by names such as Veb Finance, Russian debt that was sanctioned, and Petroleos Mexicanos.

The Fund’s asset allocation in the Local Currency sector was positive on the whole for the period, largely due to the Fund’s underweight to the sector throughout the second and third quarters of 2022. The Fund’s underweight to the sector contributed positively to relative performance for the period, as local-currency assets trailed the broader emerging-markets debt sector. Local currencies were hindered by a strengthening U.S. dollar and the rise in interest rates, which offset positive effects of rising energy prices.

The Fund used foreign exchange (FX) forwards, CDS, and interest-rate futures during the period. FX forwards, a type of derivative used for the purposes of adding or hedging local-currency exposure, aided performance during the period. Likewise, interest-rate futures, used for managing portfolio duration, were additive. Finally, CDS also contributed positively, led by names like South Africa and Colombia.

We have maintained the Fund’s duration overweight against the JP Morgan Emerging Markets Blended Index (JEMB) - Equal Weighted as of the end of the period.

What is the outlook as of the end of the period?

As of the end of the period, the outlook for global financial markets remains challenging in our view, as global growth expectations continue to be slashed, global financial liquidity has tightened severely, and geopolitical risks remain elevated. The sharp deceleration in global monetary aggregates has shown no signs of abating. This tightening in financial liquidity is exacerbated by a persistent contraction in global capital flows and a strong U.S. dollar. Despite this severe tightening, bank lending activity remains surprisingly strong in developed economies. We believe this positive global credit impulse and the continued strength in labor markets has continued to put a floor under the global economy, for now at least. In the absence of a major financial catalyst, the conditions remain in place for the U.S. Federal Reserve (Fed) to keep tightening until inflation is convincingly under control.

In our view, it remains to be seen how inflation in developed countries can be tamed without pushing these economies into severe recession, and without exacerbating the already unsustainable public-sector borrowing requirements. While inflation may have already peaked on a temporary basis thanks to the recent correction in energy prices and the easing dislocations in global supply chains, we believe price pressures appear to be entrenched and will be significantly in excess of central bank targets in developed economies as a result of second round effects (indirect inflationary impacts), elevated wage growth, unsustainable fiscal positions, and commodity supply constraints.

While there are signs of peaking inflation in food and energy prices, as of the end of the period the Fed appears to remain steadfast in its determination to continue its monetary tightening cycle, which has been further supported by a resilient U.S. labor market. We believe that this tightening is likely to continue until something “breaks,” such as the possibility of a global recession.

As of the end of the period, the Fund maintained a material underweight to local currencies and rates, as inflation remained persistent in many emerging markets. We remained broadly positive in our views of Brazil and Mexico given their attractive valuations, elevated commodity prices, and already advanced monetary tightening cycles. The political calendar is also starting to turn more favorable, in our view, as crucial elections in key countries have recently occurred. These observations are particularly valid for Brazil, where growth is recovering, and for Mexico, where there are no major macroeconomic imbalances. We expect high volatility to persist in Brazil and Mexico.

As of the end of the period, the Fund had an overweight to high-yield hard-currency sovereigns, as valuations looked attractive relative to corporate bonds, in our view. We have maintained the Fund’s duration overweight relative to the JP Morgan Emerging Markets Blended Index (JEMB) - Equal Weighted as of the end of the period, as rates appear to have rallied in recent months and we believe we are approaching the end of the interest-rate hiking cycle in some emerging-markets countries.

Important Risks

Investing involves risk, including the possible loss of principal. Security prices fluctuate in value depending on general market and economic conditions and the prospects of individual companies. • Fixed income security risks include credit, liquidity, call, duration, and interest-rate risk. As interest rates rise, bond prices generally fall. • Foreign investments may be more volatile and less liquid than U.S. investments and are subject to the risk of currency fluctuations and adverse political, economic and regulatory developments. These risks may be greater, and include additional risks, for investments in emerging markets or if the Fund focuses in a particular geographic region or country. • Investments in high-yield (“junk”) bonds involve greater risk of price volatility, illiquidity, and default than higher-rated debt securities. • Derivatives are generally more volatile and sensitive to changes in market or economic conditions than other securities; their risks include currency, leverage, liquidity, index, pricing, regulatory and counterparty risk. • Restricted securities may be more difficult to sell and price than other securities. • The Fund may have high portfolio turnover, which could increase its transaction costs and an investor’s tax liability. • Because the Fund is non-diversified, it may invest in a smaller number of issuers, and may be more exposed to risks and volatility than a more broadly diversified fund. • Integration of environmental, social, and/or governance (ESG) characteristics into the investment process may not work as intended.

Table of Contents

Hartford Schroders International Contrarian Value Fund

Fund Overview
October 31, 2022 (Unaudited)

Inception 05/24/2022
Sub-advised by Schroder Investment Management North America Inc. and its
sub-sub-adviser, Schroder Investment Management North America Limited

Investment objective – The Fund seeks long-term capital appreciation.

Comparison of Change in Value of $5,000,000 Investment (05/24/2022 - 10/31/2022)

The chart above represents the hypothetical growth of a $5,000,000 investment in Class SDR. Returns for Class I may vary from what is seen above due to differences in the expenses charged to Class I.

Cumulative Total Returns
for the Period Ended 10/31/2022
	Since Inception¹
Class I	-12.50%
Class SDR	-12.50%
MSCI EAFE Value Index (Net)	-12.68%
MSCI EAFE Index (Net)	-11.48%

¹	Inception: 05/24/2022

You cannot invest directly in an index.

See "Benchmark Glossary" for benchmark descriptions.

Operating Expenses^*	Gross	Net
Class I	1.20%	0.85%
Class SDR	1.11%	0.70%

Expenses as shown in the Fund’s most recent prospectus. Gross expenses do not reflect contractual expense reimbursement arrangements. Net expenses reflect such arrangements in instances when they reduce gross expenses. These arrangements remain in effect until 02/29/2024 unless the Fund’s Board of Directors approves an earlier termination. Actual expenses may be higher or lower. Please see accompanying Financial Highlights for expense ratios for the period ended 10/31/2022.

Table of Contents

Hartford Schroders International Contrarian Value Fund

Fund Overview – (continued)
October 31, 2022 (Unaudited)

Portfolio Managers

Hartford Schroders International Contrarian Value Fund’s sub-adviser is Schroder Investment Management North America Inc. and its sub-sub-adviser is Schroder Investment Management North America Limited.

Nick Kirrage, CFA

Portfolio Manager

Simon Adler, CFA

Portfolio Manager

Liam Nunn, CFA

Portfolio Manager

Manager Discussion

How did the Fund perform during the period?

The Class SDR shares of the Hartford Schroders International Contrarian Value Fund returned -12.50% for the period since inception on May 24, 2022 to October 31, 2022, outperforming the Fund’s primary benchmark, the MSCI EAFE Value Index (Net), which returned -12.68% for the same period, and underperforming the Fund’s secondary benchmark, the MSCI EAFE Index (Net), which returned -11.48% for the same period. For the same period, the Class SDR shares of the Fund outperformed the -13.14% average return of the Lipper International Multi-Cap Value peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

During the period, international equities struggled as investors became increasingly concerned over rising inflation, higher interest rates, and a global economic slowdown. After a brief rally in July 2022, global equity markets fell and registered negative returns for the third quarter of 2022. Investors’ hopes for interest-rate cuts were broken as central banks reaffirmed their commitment to fighting inflation through tighter monetary policy. The U.S. Federal Reserve (Fed), European Central Bank, and Bank of England all raised interest rates over the period.

In the eurozone, the energy crisis continued to dominate markets. Nord Stream 1, the main pipeline supplying gas to Europe from Russia, was closed for maintenance in July 2022. It came back onstream temporarily before Russia shut it down again in early September 2022. This put further pressure on power generators, many of which needed to buy natural gas from higher-cost sources, and intensified worries over potential energy shortages this winter. The news also sent the euro to a 20-year low versus the U.S. dollar.

From a style perspective, markets continued to favor value over growth during the period.

The Fund outperformed its primary benchmark, the MSCI EAFE Value Index (Net), for the period. Stock selection in names within France and Italy as well as stock selection within the Consumer Discretionary sector more broadly contributed positively towards Fund performance over the period.

French car maker Renault contributed positively to Fund performance for the period. While we believe the company has some risks, not least its balance sheet, we continued to hold the company’s stock within the Fund as of the end of the period.

Educational publisher Pearson was another positive contributor to Fund performance for the period. The group has been engaged in a protracted turnaround process, which we believe is now starting to bear fruit. Pearson has focused on digital courses as well as its traditional textbook publishing. Pearson said in August 2022 that profit margins would be in the mid-teens next year, which would be two years ahead of schedule. The shares continued to perform well over the period, and as a result we progressively reduced the Fund’s position and subsequently sold the Fund’s holding towards the end of the period.

Italian bank UniCredit also contributed positively to returns over the period. The shares performed well on the back of the positive sentiment towards the Banking sector due to the rising interest-rate environment.

On the negative side of the ledger, tires and automotive parts and technology company Continental detracted from performance relative to the MSCI EAFE Value Index (Net) for the period. The cyclical nature of a number of Continental’s service lines (tires, chassis and safety, industrial rubber) have resulted in worsening sentiment towards the business during the period.

Another detractor from Fund performance was British telecommunications name BT Group. After shares approached one-year highs in July 2022, they experienced a tough period. Uncertainty around one of the company’s major shareholders being forced to sell their 18% stake following pressure from the United

Table of Contents

Hartford Schroders International Contrarian Value Fund

Fund Overview – (continued)
October 31, 2022 (Unaudited)

Kingdom (U.K.) government (which ultimately didn’t materialize), as well as ongoing employee pay negotiations with labor unions, weighed on the shares.

Derivatives were not used in a significant manner in the Fund during the period and did not have a material impact on performance during the period.

What is the outlook as of the end of the period?

As of the end of the period, the equity market drawdown resulted in plenty of new equities appearing on our valuation screens. We continue to use a long-term time horizon, and one of our most important areas of focus is on balance-sheet strength. We believe this focus on truly understanding a company’s financial position is important at the best of times, and is even more important today. For example, when looking at cyclical businesses we seek to identify companies that trade at a substantial discount to their fair or intrinsic value, with robust capital positions to help them weather short-term downturns in the economic cycle and which have attractive long-term prospects that may be underappreciated today.

Overall, we believe the Fund remains well-diversified and retains a larger-cap bias. The majority of the companies that the Fund holds are “global” in nature (companies generating revenues from multiple different countries in multiple different currencies), which in our view may help to limit the damage from ongoing volatility in the currency markets. As of the end of the period, we are cautious, focusing on areas that stand to benefit the Fund over the coming years.

Important Risks

The Fund is new and has a limited operating history. Investing involves risk, including the possible loss of principal. Security prices fluctuate in value depending on general market and economic conditions and the prospects of individual companies. • Foreign investments may be more volatile and less liquid than U.S. investments and are subject to the risk of currency fluctuations and adverse political, economic and regulatory developments. These risks may be greater, and include additional risks, for investments in emerging markets or if the Fund focuses in a particular geographic region or country. • Mid-cap securities can have greater risks and volatility than large-cap securities. • Integration of environmental, social, and/or governance (ESG) characteristics into the investment process may not work as intended. • Different investment styles may go in and out of favor, which may cause the Fund to underperform the broader stock market. • To the extent the Fund focuses on one or more sectors, the Fund may be subject to increased volatility and risk of loss if adverse developments occur. The Fund may also hold a limited number of securities.

Composition by Sector⁽¹⁾
as of 10/31/2022
Sector	Percentage of Net Assets
Equity Securities
Communication Services	19.1%
Consumer Discretionary	17.0
Consumer Staples	11.5
Energy	9.8
Financials	21.1
Health Care	9.1
Industrials	2.9
Materials	9.6
Total	100.1%
Short-Term Investments	3.1
Other Assets & Liabilities	(3.2)
Total	100.0%

⁽¹⁾	A sector may be comprised of several industries. For Fund compliance purposes, the Fund may not use the same classification system. These sector classifications are used for financial reporting purposes.

Table of Contents

Hartford Schroders International Multi-Cap Value Fund

Fund Overview
October 31, 2022 (Unaudited)

Inception 08/30/2006
Sub-advised by Schroder Investment Management North America Inc. and its
sub-sub-adviser, Schroder Investment Management North America Limited

Investment objective – The Fund seeks long-term capital appreciation.

Comparison of Change in Value of $10,000 Investment (10/31/2012 - 10/31/2022)

Average Annual Total Returns
for the Periods Ended 10/31/2022
	1 Year	5 Years	10 Years
Class A¹	-19.57%	-1.30%	3.27%
Class A²	-23.99%	-2.40%	2.68%
Class C¹	-20.16%	-2.04%	2.91%
Class C³	-20.94%	-2.04%	2.91%
Class I¹	-19.29%	-1.02%	3.56%
Class R3¹	-19.72%	-1.58%	3.19%
Class R4¹	-19.59%	-1.34%	3.36%
Class R5¹	-19.31%	-1.05%	3.54%
Class Y¹	-19.36%	-0.99%	3.59%
Class F¹	-19.19%	-0.93%	3.61%
Class SDR¹	-19.21%	-0.94%	3.64%
MSCI ACWI ex USA Index (Net)	-24.73%	-0.60%	3.27%
MSCI ACWI ex USA Value Index (Net)	-18.13%	-1.60%	2.21%

¹	Without sales charge
²	Reflects maximum sales charge of 5.50%
³	Reflects a contingent deferred sales charge of 1.00%

adjustments that are necessary under generally accepted accounting principles. As a result, the total returns in the Financial Highlights section may differ from the total returns presented above.

Effective immediately before the opening of business on 10/24/2016, the Schroder International Multi-Cap Value Fund (the “Predecessor Fund”) was reorganized into the Fund. The performance information shown for periods prior to 10/24/2016 is that of the Predecessor Fund. Prior to 10/24/2016, Class A, Class I and Class SDR were called Advisor Shares, Investor Shares and R6 Shares, respectively. Class C, Class R3, Class R4, Class R5, and Class Y shares commenced operations on 10/24/2016 and performance prior to this date reflects the performance of the Predecessor Fund’s Investor Shares. Performance for Class SDR shares prior to 12/30/2014 (the inception date of the Predecessor Fund’s Class R6 Shares) reflects the performance of the Predecessor Fund’s Investor Shares. Class F shares commenced operations on 02/28/2017 and performance prior to that date is that of the Fund’s Class I shares. Performance prior to Class F’s inception date has not been adjusted to reflect the operating expenses of Class F. The returns would be different if the Fund’s fees and expenses were reflected for periods prior to 10/24/2016.

You cannot invest directly in an index.

See "Benchmark Glossary" for benchmark descriptions.

Table of Contents

Hartford Schroders International Multi-Cap Value Fund

Fund Overview – (continued)
October 31, 2022 (Unaudited)

Operating Expenses^*	Gross	Net
Class A	1.11%	1.11%
Class C	1.85%	1.85%
Class I	0.86%	0.86%
Class R3	1.47%	1.47%
Class R4	1.17%	1.17%
Class R5	0.85%	0.85%
Class Y	0.86%	0.84%
Class F	0.75%	0.75%
Class SDR	0.75%	0.75%

Expenses as shown in the Fund’s most recent prospectus. Gross expenses do not reflect contractual fee waivers or expense reimbursement, if any. Net expenses reflect such arrangements only with respect to Class Y. These arrangements remain in effect until 02/28/2023 unless the Fund’s Board of Directors approves an earlier termination. Actual expenses may be higher or lower. Please see accompanying Financial Highlights for expense ratios for the period ended 10/31/2022.

Portfolio Managers

Hartford Schroders International Multi-Cap Value Fund’s sub-adviser is Schroder Investment Management North America Inc. and its sub-sub-adviser is Schroder Investment Management North America Limited.

Stephen Langford, CFA

Portfolio Manager

David Philpotts

Portfolio Manager

Lukas Kamblevicius

Portfolio Manager

Manager Discussion

How did the Fund perform during the period?

The Class A shares of the Hartford Schroders International Multi-Cap Value Fund returned -19.57%, before sales charges, for the twelve-month period ended October 31, 2022, outperforming the Fund’s primary benchmark, the MSCI ACWI ex USA Index (Net), which returned -24.73% for the period, while underperforming the Fund’s secondary benchmark, the MSCI ACWI ex USA Value Index (Net), which returned -18.13% over the same period. For the same period, the Class A shares of the Fund, before sales charges, outperformed the -19.92% average return of the Lipper International Multi-Cap Value peer group, which is a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

Over the course of the twelve-month period ended October 31, 2022, the market environment continued to favor equities with cheaper valuations. By way of example, the MSCI ACWI ex USA Value Index (Net) outperformed the by MSCI ACWI ex USA Growth Index (Net) by 12.86% over the period. Following a strong rebound in undervalued equities as global economies reopened in late 2020, value stocks led their growth counterparts again in late November 2021 when the U.S. Federal Reserve (Fed) acknowledged inflation was not transitory

and began to telegraph tighter monetary policy in an attempt to rein in inflation. The resulting rise in global interest rates was supportive of undervalued companies, most notably in the Financials sector. Supply bottlenecks continued to push oil prices higher, which also benefited Energy equities, another traditional value sector.

Conditions began to deteriorate in global markets following Russia’s invasion of Ukraine in late February 2022, which severely dented global growth forecasts and led to elevated investor uncertainty from a geopolitical perspective. Against this backdrop, quality-oriented value equities, particularly those with robust balance sheets, held up better than the broader market, whereas poorer-quality, high-growth equities suffered a markdown in valuations during this period.

Relative to the MSCI ACWI ex USA Index (Net), the Fund benefited from its broad exposure across sectors in the MSCI ACWI ex USA Index (Net), with nine of eleven sectors adding value over the period. The Energy and Healthcare sectors were the top two contributors to Fund performance for the period, while Consumer Staples and Financials were the only two detracting sectors. An overweight allocation to the Energy sector, which was further boosted by positive stock selection, underpinned relative performance, with positioning in integrated oil & gas (Equinor, Repsol) and exploration & production companies (ARC Resources) adding the most value. Energy was the only sector that did not decline on an absolute basis over the

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Hartford Schroders International Multi-Cap Value Fund

Fund Overview – (continued)
October 31, 2022 (Unaudited)

twelve-month period (albeit up just 1% at the index level). In the Healthcare sector, the Fund’s holdings in the pharmaceutical industry and an underweight to the more cyclical health equipment providers accounted for most of the relative outperformance during the period.

The Fund’s underweight in the more expensive Consumer Staples sector detracted from performance relative to the MSCI ACWI ex USA Index (Net), as the sector outperformed in a very weak market due to its defensive credentials. More specifically, the Fund’s underweight positioning within drinks, food manufacturers, and tobacco created difficulties overall. Finally, the Fund lagged very slightly within the Financials sector, primarily driven by positioning in investment banks. However, this was partially offset by strong stock selection within European insurance and investment services.

Against the MSCI ACWI ex USA Value Index (Net), Energy and Real Estate were the top two sector contributors to Fund performance for the period, although this was more than offset by lagging performance in the Technology and Communication Services sectors. Notable contributors to performance in the Energy sector were identical to those highlighted above, i.e., Equinor, Respol, and ARC Resources, among others. An underweight stance in the Real Estate sector was another positive contributor, as rapidly rising interest rates impaired the “bond proxy” characteristics of the sector (i.e., beneficiaries of low and declining rates due to more leveraged business models). Short-term financing concerns continued to negatively impact the financial strength characteristics of the group. Positive stock selection within residential and commercial was also supportive.

The Fund’s allocation to the Technology sector was the largest detractor from performance during the period, particularly the Fund’s overweight posture in semiconductors, relative to the MSCI ACWI ex USA Value Index (Net), in conjunction with challenged stock selection in the group. Trends for chip producers and semiconductor capital equipment players deteriorated over the period due to a materially weaker economic backdrop and challenging year-over-year earnings and margin comparisons. The recent U.S. ban on the export of cutting-edge chips to China inserted an additional layer of uncertainty within the group. By the end of the period, the Fund was modestly underweight in semiconductors from a mix of selective profit taking and de-risking. Finally, a modest overweight positioning in broadcasting and online services within the Communication Services sector had a negative impact. In particular, the recent market correction in China in reaction to President Xi’s consolidation of power at the Chinese Communist Party’s 20th Congress in October 2022 triggered another negative performance impact to internet platform giant Tencent.

Derivatives were not used in a significant manner in the Fund during the period and did not have a material impact on performance during the period.

What is the outlook as of the end of the period?

As of the end of the period, it has been another humbling year for economic forecasters, whether they be investors or central banks. Few predicted the current backdrop even as short a time ago as the start of 2022, most notably the level and persistence of inflation alongside the resilience of the labor market. We believe there remains an

unusually high level of uncertainty about the economic outlook and what this means for global interest rates. Without falling into the same trap of attempting to predict the future, it seems reasonable to speculate that inflation is close to peaking in most markets. However, it is still far from clear whether the Fed is close to a pivot towards less aggressive interest-rate increases. Investors may need some reassurance on this front as well as evidence of a capitulation in earnings forecasts before they feel comfortable re-entering the market in earnest once again. We believe it would also be optimistic to discount geopolitical risks, which we know from experience can have far-reaching implications, not least to currencies where the “king dollar” reigns supreme.

Despite one of the largest year-on-year de-ratings in the past half century, we believe equity valuations are still not very compelling even before the anticipated drop in earnings per share. There is also the question of what reduced multiple to apply to these earnings compared to recent years. Business prospects are more challenging outside the U.S. due to a greater reliance on imported energy and more open economies, but this is more than reflected in valuations. We believe this is particularly true for emerging markets given their higher sensitivity to global demand. After having held up relatively well through the summer months, emerging markets finally capitulated in September 2022, with emerging-markets equities, interest rates, foreign currency, and credit all underperforming their developed-markets counterparts. However, emerging markets are also further along in their monetary policy tightening cycle, which does provide some comfort, particularly if the dollar is close to peaking. The timing of China’s “re-opening” is also a significant “known unknown,” but this seems a pre-requisite for a firmer footing, in our view. We believe there is good value in emerging markets, but it is scarcer than simple valuation multiples suggest due to the greater risks, most notably their inherent cyclicality.

As investors wait for evidence that the Fed is slowing down interest-rate increases, we believe the path of least resistance is probably for a range-bound market (i.e., a market that trades within a certain range) with further downside likely if earnings disappoint expectations or the central banks continue with tighter monetary policy for longer. This backdrop reinforces the Fund’s defensive positioning and ongoing bias towards recessionary beneficiaries. Fortunately, as of the end of the period, in our view, there are opportunities to find quality stocks at a reasonable price. We believe this also offers a natural hedge against such an uncertain environment. We are also wary of the potential for a pivot by the Fed.

More broadly, we still expect stock selection to be more nuanced in the near term than what we saw during the 2017-2020 thematic “growth at any price” period. We believe markets will be driven more by the progression of earnings as opposed to multiple expansion as was the case from 2017 to 2020. We believe that the companies that the market favored during that period now offer better value but are still not cheap, particularly given their sensitivity to higher yields. In contrast, stocks exhibiting both quality and value characteristics still have a way to run for valuations to normalize even before considering their recession-proofing potential. Finally, we would stress that, given the prospect of ongoing short-term volatility, we believe it is more important than ever to stay true to our investment process. In the short

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Hartford Schroders International Multi-Cap Value Fund

Fund Overview – (continued)
October 31, 2022 (Unaudited)

term, we remain disciplined in seeking to find opportunities during periods of excess volatility by trading little but often back to target stock weights.

Important Risks

Investing involves risk, including the possible loss of principal. Security prices fluctuate in value depending on general market and economic conditions and the prospects of individual companies. • Foreign investments may be more volatile and less liquid than U.S. investments and are subject to the risk of currency fluctuations and adverse political, economic and regulatory developments. These risks may be greater, and include additional risks, for investments in emerging markets or if the Fund focuses in a particular geographic region or country. • Small- and mid-cap securities can have greater risks and volatility than large-cap securities. • Different investment styles may go in and out of favor, which may cause the Fund to underperform the broader stock market. • Integration of environmental, social, and/or governance (ESG) characteristics into the investment process may not work as intended. • The exclusion of certain issuers for reasons other than performance may negatively impact the Fund’s performance. • The Fund may have high portfolio turnover, which could increase its transaction costs and an investor’s tax liability.

Composition by Sector⁽¹⁾
as of 10/31/2022
Sector	Percentage of Net Assets
Equity Securities
Communication Services	13.1%
Consumer Discretionary	9.8
Consumer Staples	6.5
Energy	12.2
Financials	20.8
Health Care	9.5
Industrials	6.9
Information Technology	6.8
Materials	7.1
Real Estate	1.3
Utilities	4.3
Total	98.3%
Short-Term Investments	2.2
Other Assets & Liabilities	(0.5)
Total	100.0%

⁽¹⁾	A sector may be comprised of several industries. For Fund compliance purposes, the Fund may not use the same classification system. These sector classifications are used for financial reporting purposes.

Table of Contents

Hartford Schroders International Stock Fund

Fund Overview
October 31, 2022 (Unaudited)

Inception 12/19/1985
Sub-advised by Schroder Investment Management North America Inc. and its
sub-sub-adviser, Schroder Investment Management North America Limited

Investment objective – The Fund seeks long-term capital appreciation through investment in securities markets outside the United States.

Comparison of Change in Value of $10,000 Investment (10/31/2012 - 10/31/2022)

Average Annual Total Returns
for the Periods Ended 10/31/2022
	1 Year	5 Years	10 Years
Class A¹	-27.22%	2.37%	5.35%
Class A²	-31.23%	1.22%	4.76%
Class C¹	-27.71%	1.62%	5.01%
Class C³	-28.42%	1.62%	5.01%
Class I¹	-27.04%	2.66%	5.64%
Class R3¹	-27.43%	2.19%	5.37%
Class R4¹	-27.26%	2.40%	5.50%
Class R5¹	-26.99%	2.65%	5.65%
Class Y¹	-27.03%	2.66%	5.66%
Class F¹	-26.93%	2.74%	5.69%
Class SDR¹	-26.96%	2.72%	5.71%
MSCI ACWI ex USA Index (Net)	-24.73%	-0.60%	3.27%

¹	Without sales charge
²	Reflects maximum sales charge of 5.50%
³	Reflects a contingent deferred sales charge of 1.00%

adjustments that are necessary under generally accepted accounting principles. As a result, the total returns in the Financial Highlights section may differ from the total returns presented above.

Effective immediately before the opening of business on 10/24/2016, the Schroder International Alpha Fund (the “Predecessor Fund”) was reorganized into the Fund. The performance information shown for periods prior to 10/24/2016 is that of the Predecessor Fund. Prior to 10/24/2016, Class A, Class I and Class SDR were called Advisor Shares, Investor Shares and R6 Shares, respectively. Class C, Class R3, Class R4, Class R5, and Class Y shares commenced operations on 10/24/2016 and performance prior to this date reflects the performance of the Predecessor Fund’s Investor Shares. Performance for Class SDR shares prior to 12/30/2014 (the inception date of the Predecessor Fund’s Class R6 Shares) reflects the performance of the Predecessor Fund’s Investor Shares. Class F shares commenced operations on 02/28/2017 and performance prior to that date is that of the Fund’s Class I shares. Performance prior to Class F’s inception date has not been adjusted to reflect the operating expenses of Class F. The returns would be different if the Fund’s fees and expenses were reflected for periods prior to 10/24/2016.

You cannot invest directly in an index.

See "Benchmark Glossary" for benchmark descriptions.

Performance information may reflect expense waivers/reimbursements without which performance would have been lower.

Table of Contents

Hartford Schroders International Stock Fund

Fund Overview – (continued)
October 31, 2022 (Unaudited)

Operating Expenses^*	Gross	Net
Class A	1.06%	1.06%
Class C	1.80%	1.80%
Class I	0.79%	0.79%
Class R3	1.42%	1.42%
Class R4	1.12%	1.12%
Class R5	0.81%	0.81%
Class Y	0.81%	0.81%
Class F	0.70%	0.70%
Class SDR	0.71%	0.71%

^*	Expenses as shown in the Fund’s most recent prospectus. Actual expenses may be higher or lower. Please see accompanying Financial Highlights for expense ratios for the period ended 10/31/2022.

Portfolio Managers

Hartford Schroders International Stock Fund’s sub-adviser is Schroder Investment Management North America Inc. and its sub-sub-adviser is Schroder Investment Management North America Limited.

James Gautrey, CFA

Portfolio Manager

Simon Webber, CFA

Portfolio Manager

Manager Discussion

How did the Fund perform during the period?

The Class A shares of the Hartford Schroders International Stock Fund returned -27.22%, before sales charges, for the twelve-month period ended October 31, 2022, underperforming the Fund’s benchmark, the MSCI ACWI ex USA Index (Net), which returned -24.73% for the same period. For the same period, the Class A shares of the Fund, before sales charges, outperformed the -29.71% average return of the Lipper International Large Cap Growth peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

Over the twelve-month period ended October 31, 2022, international equities suffered significant declines amid elevated volatility as investors dealt with Russia’s invasion of Ukraine. The invasion caused an energy crisis and rising inflationary pressures which, alongside sharply rising interest rates, ultimately resulted in an increased risk of a global recession. All major regions faced selling pressure, with the weakest performance seen in emerging markets and the United Kingdom. North America was among the most resilient regions, helped in part by U.S. dollar strength, but still posted losses over the period. Income-driven sectors such as Utilities and Real Estate were among the weaker performers as sharp rises in bond yields offered investors other places to find yield outside of the equity market. Real estate was also impacted by signs of peaking property prices in several markets. Commodity sectors such as Energy and Materials proved to be more resilient as inflationary hedges during the period.

Amid this challenging market backdrop, both stock selection and asset allocation detracted from returns as the Fund underperformed the MSCI ACWI ex USA Index (Net) over the period. Over the period, the Fund’s industrial holdings were the largest detractors from performance. Vestas and Knorr Bremse both experienced profitability challenges from inflation and supply-chain disruption during the period. We sold the Fund’s position in these two companies during the period as a result. Within the Information Technology sector, as the COVID-19 ecommerce boom ended, Mercadolibre and Zalando were also detractors from performance, and we reduced both positions within the Fund to reflect their more challenging near-term outlooks.

Two of the largest positive contributors to returns were the Fund’s holdings in the Energy sector, Equinor and Shell. Both companies have a credible energy transition plan to steadily migrate their businesses towards more sustainable energy. The energy crisis in Europe has made it clear in our view that the energy transition will be difficult, and that until demand is migrated to alternative sources, economies will remain reliant on a steady supply of fossil fuels for some time.

By region, Continental Europe and the Pacific excluding Japan detracted from performance, while holdings in the United Kingdom and emerging markets added value during the period.

In our view, the recent exceptionally swift movement from growth to value stocks being in favor has been a more challenging environment for the Fund compared to recent years. However, we did appreciate that valuations of long-term compounders became extended in valuation terms relative to history. Towards the end of 2021 and early 2022, we sold some of these positions in the Fund where the risk and

Table of Contents

Hartford Schroders International Stock Fund

Fund Overview – (continued)
October 31, 2022 (Unaudited)

reward became most unappealing (Xero, SEA Limited) in our view and reduced positions in others where we felt the combination of the strong long-term growth outlook and limited liquidity warranted retaining a smaller position (Sika, Lindt).

As the market then steadily downgraded growth equities, we sought to take advantage by establishing new positions in some businesses where we believed the long-term outlook was underappreciated. These businesses included Nibe, a manufacturer of heat pumps, which we believe is set to see major growth this decade as Europe decarbonizes heating.

The Fund also sold out of some equities where we believed the investment cases were broken, such as Knorr Bremse, a maker of braking systems for rail and trucks. Knorr Bremse failed to demonstrate the pricing power we thought they would have during the period and began losing share in China to domestic competitors. We also sold Adidas as the company came under pressure in China, at least in part due to a public stance on Xianjiang cotton. This undermined their reputation within China and led to very weak sales there.

Derivatives were not used in the Fund during the period.

What is the outlook as of the end of the period?

Outlook predictability was lower than usual as of the end of the period. The COVID-19 pandemic and the unprecedented global fiscal and monetary response to it created an inflationary impulse not seen in decades. Monetary policy raced to catch up, which led to much higher interest rates and a tighter set of financial conditions globally. Combined with rising geopolitical tension and war in Ukraine, risk premiums also rose during the period.

As investors wait for greater clarity, we believe there are reasons to think that inflationary pressures could begin to peak soon. The U.S. and European economies are slowing rapidly and, although labor markets have remained tight for longer than policymakers expected, the first tentative signs of a weaker job market are now starting to appear. We believe the effects of a reduction in disposable income from a major energy price shock will be intense in Europe this winter. Supply-chain disruption has also clearly peaked in our view, with shipping costs and commodity costs falling and the availability of semiconductors and other components improving.

Many companies are still facing significant margin pressure as demand weakens, making it harder for them to pass on prices to consumers. We expect the third- and fourth-quarter reporting seasons to lead to a round of estimate reductions on average, and in this context we need to be thinking about our growth gaps in relative terms as well as absolute ones – simply being able to deliver on consensus earnings estimates may be a very valuable attribute in the 12 months ahead.

Real interest rates have risen significantly to levels not seen since before the global financial crisis in 2008. This gives us optimism that the pressure on long-duration growth equities may have nearly run its course. In recent months, we found more of these types of quality growth companies showing good upside in our long-term growth and valuation models.

Currency markets have moved substantially, with relentless dollar strength being the key feature. Currencies such as the yen, euro, and pound are all now relatively cheap against the dollar as measured by various forms of purchasing power parity. Should current foreign exchange (FX) rates sustain, companies in these regions will have a major competitiveness boost, supporting employment and growth. However, once the U.S. Federal Reserve reaches the peak of its tightening cycle, we would expect to see a partial reversal of such extreme currency rates, representing a boost to international equity returns in U.S.-dollar terms. We are watching developments in Japan given the change in Bank of Japan Governor in March 2023, where a more conservative Governor is almost certain to be selected, in our view.

Our fundamental analysis process seeks to uncover companies with a strong competitive advantage that leads to pricing power and unanticipated growth. We believe there are signs that pricing power is emerging in the Energy sector and banking industry, albeit of a more transitory nature. Within the Energy sector, a lack of investment in supply after years of low prices and societal efforts to shift investment to more sustainable energy has introduced the prospect of a longer upcycle in oil and gas prices than we have seen in past years. In banking, interest rates are rising for the first time in years, reigniting the competitive funding advantage of banks with strong deposit franchises. With credit spreads beginning to normalize as well, it is also not so easy for companies that need to raise capital to bypass banks by accessing capital markets.

With such a different economic and market backdrop to recent years, many of the most powerful structural themes have faced a challenging period of performance. This goes for innovation in the Healthcare and Financial Services sectors, the climate and energy transition, the shift to digital and ecommerce, and manufacturing automation. Our conviction in these themes in the long term is undiminished, and they continue to be a focus of our investment team research and discussions. We continue to look for opportunities to build positions into those themes we feel are long-term winners, particularly as the stock market de-rates them with a short-term view.

There is growing evidence that the rising tension and rivalry between the U.S. (and to a lesser extent its European allies) and China will be a defining theme of this decade. We are working to understand this theme in more detail, but we expect to see consequences for many industries spanning higher costs, diseconomies of scale, and political intervention. The exposure of portfolio holdings to profit pools in China is of particular interest, given that these have been such a powerful source of growth historically but may be seen as vulnerable to homegrown China businesses that find it easier to compete in the future.

As of the end of the period, we have reduced the Fund’s cyclical exposure in light of slowing economic growth, while adding to stocks where we believe earnings risk is less pronounced and valuations discount strong long-term fundamentals. As of the end of the period, the Fund remained overweight in the Industrials sector as labor shortages, supply-chain issues, and higher input costs eased, and valuations began to look attractive, in our view. We also added to the Fund’s holdings in the Information Technology sector as of the end of

Table of Contents

Hartford Schroders International Stock Fund

Fund Overview – (continued)
October 31, 2022 (Unaudited)

the period. Conversely, we have trimmed the Fund’s overweight to the Consumer Discretionary sector as of the end of the period, as we expect disposable incomes will fall as consumers struggle with rising inflation and interest rates. As of the end of the period, the Fund remained underweight in the Financials sector as we believe higher rates have dampened activity and increased recession risks, potentially testing banks’ balance-sheet strength.

Important Risks

Investing involves risk, including the possible loss of principal. Security prices fluctuate in value depending on general market and economic conditions and the prospects of individual companies. • Foreign investments may be more volatile and less liquid than U.S. investments and are subject to the risk of currency fluctuations and adverse political, economic and regulatory developments. These risks may be greater, and include additional risks, for investments in emerging markets or if the Fund focuses in a particular geographic region or country. • Small- and mid-cap securities can have greater risks and volatility than large-cap securities. • Integration of environmental, social, and/or governance (ESG) characteristics into the investment process may not work as intended. • To the extent the Fund focuses on one or more sectors, the Fund may be subject to increased volatility and risk of loss if adverse developments occur.

Composition by Sector⁽¹⁾
as of 10/31/2022
Sector	Percentage of Net Assets
Equity Securities
Communication Services	3.1%
Consumer Discretionary	16.8
Consumer Staples	12.7
Energy	5.0
Financials	13.8
Health Care	11.2
Industrials	18.5
Information Technology	13.8
Materials	1.1
Utilities	3.3
Total	99.3%
Short-Term Investments	1.2
Other Assets & Liabilities	(0.5)
Total	100.0%

⁽¹⁾	A sector may be comprised of several industries. For Fund compliance purposes, the Fund may not use the same classification system. These sector classifications are used for financial reporting purposes.

Table of Contents

Hartford Schroders Securitized Income Fund

Fund Overview
October 31, 2022 (Unaudited)

Inception 02/28/2019
Sub-advised by Schroder Investment Management North America Inc.

Investment objective – The Fund seeks to provide current income and long-term total return consistent with preservation of capital.

Comparison of Change in Value of $10,000 Investment (02/28/2019 - 10/31/2022)

Average Annual Total Returns
for the Periods Ended 10/31/2022
	1 Year	Since Inception¹
Class A²	-6.45%	-0.63%
Class A³	-9.29%	-1.46%
Class C²	-7.42%	-1.37%
Class C⁴	-8.33%	-1.37%
Class I²	-6.41%	-0.57%
Class Y²	-6.37%	-0.54%
Class F²	-6.27%	-0.47%
Class SDR²	-6.28%	-0.49%
ICE BofA 1-3 Year US Corporate Index	-5.79%	0.70%
ICE BofA US ABS & CMBS Index	-9.06%	0.17%
Morningstar LSTA US Leveraged Loan Index (formerly, the S&P/LSTA Leveraged Loan Index)	-1.76%	2.78%

¹	Inception: 02/28/2019
²	Without sales charge
³	Reflects maximum sales charge of 3.00%
⁴	Reflects a contingent deferred sales charge of 1.00%

Total returns presented above were calculated using the applicable class’ net asset value available to shareholders for sale or redemption of Fund shares on 10/31/2022, which may exclude investment transactions as of this date. All share class returns assume the reinvestment of all distributions at net asset value and the deduction of all fund expenses. The total returns presented in the Financial Highlights section of the report are calculated in the same manner, but also take into account certain

adjustments that are necessary under generally accepted accounting principles. As a result, the total returns in the Financial Highlights section may differ from the total returns presented above.

Class C shares commenced operations on 02/28/2020 and performance prior to this date reflects Class A shares (excluding sales charges). Performance prior to Class C’s inception date has not been adjusted to reflect the operating expenses of Class C. If the performance were adjusted, it would have been lower.

Effective December 31, 2021, the Fund changed its benchmark to the ICE BofA 1-3 Year US Corporate Index from the ICE BofA US ABS & CMBS Index and the Morningstar LSTA US Leveraged Loan Index (formerly, the S&P/LSTA Leveraged Loan Index). The Fund changed its benchmark because the Fund’s Investment Manager believes the new benchmark’s duration profile and credit quality profile are more representative of the Fund’s investment strategy.

You cannot invest directly in an index.

See "Benchmark Glossary" for benchmark descriptions.

Table of Contents

Hartford Schroders Securitized Income Fund

Fund Overview – (continued)
October 31, 2022 (Unaudited)

Operating Expenses^*	Gross	Net
Class A	0.90%	0.85%
Class C	1.68%	1.68%
Class I	0.64%	0.60%
Class Y	0.63%	0.55%
Class F	0.59%	0.45%
Class SDR	0.59%	0.45%

Portfolio Managers

Hartford Schroders Securitized Income Fund’s sub-adviser is Schroder Investment Management North America Inc.

Michelle Russell-Dowe

Portfolio Manager and Head of Securitized Credit

Anthony Breaks

Portfolio Manager

Manager Discussion

How did the Fund perform during the period?

The Class A shares of the Hartford Schroders Securitized Income Fund returned -6.45%, before sales charges, for the twelve-month period ended October 31, 2022, underperforming the Fund’s benchmark, the ICE BofA 1-3 Year US Corporate Index, which returned -5.79% for the same period. For the same period, the Class A shares of the Fund, before sales charges, outperformed the -14.33% average return of the Lipper U.S. Mortgage Funds peer group, defined as funds that invest primarily in U.S. government agency and/or non-agency mortgage-backed securities. Effective December 31, 2021, the Fund changed its benchmark to the ICE BofA 1-3 Year US Corporate Index from the ICE BofA US ABS & CMBS Index and the Morningstar LSTA US Leveraged Loan Index (formerly, the S&P/LSTA Leveraged Loan Index). For the same period, Class A shares of the Fund, before sales charges, outperformed the ICE BofA US ABS & CMBS Index, which returned -9.06%, and underperformed the Morningstar LSTA US Leveraged Loan Index, which returned -1.76%.

Why did the Fund perform this way?

Over the period, interest rates generally increased for the five- and ten-year U.S. Treasury notes by 305 basis points (bps) and 250 bps, respectively.

The Fund continued to increase credit exposure in sectors that we believe have strong credit and supportive fundamental factors over the period. The Fund focused on securitized credit, where income is higher relative to corporate credit of comparable ratings. Despite the higher income and generally lower duration exposure compared to the ICE BofA 1-3 Year US Corporate Index, the Fund saw more credit

spread widening than the benchmark due to the pullback from banks, which have been material buyers in the low-duration securitized space. The main detractors from performance were the Fund’s allocations to mortgage-backed securities, collateralized loan obligations, and commercial mortgage-backed securities. During the period, the Fund continued to focus on a structural exposure to sectors that we believe have higher income, strong credit, and supportive fundamental factors. During the period, the Fund increased its exposure to senior commercial real estate (CRE) collateralized loan obligations (CLOs) securities and agency mortgage-backed securities (MBS), as both have seen their spreads widen, and both provide good high-quality income, in our view. During the period, the Fund reduced its exposure to European CLOs due to a higher probability of recession in Europe compared to the U.S. Our view during the period was that credit spreads would widen and having exposure to higher-quality income with good collateral protection would be beneficial in an environment bookended by inflation and recession.

Currency futures and forwards were used within the Fund during the period for hedging against currency fluctuations on non-U.S.-dollar bonds; these derivatives did not have a material impact on the Fund’s performance during the period.

What is the outlook as of the end of the period?

As of the end of the period, inflation remains a global challenge, and we believe the long-term economic trends in place are supportive of ongoing inflationary pressure. We believe the labor market is characterized by considerable wage pressure and little slack, while consumer strength is bifurcated. The economic pillars (corporations, banks, and consumers) began the period in a very healthy state. Given the starting point for the consumer, we are concerned about

Table of Contents

Hartford Schroders Securitized Income Fund

Fund Overview – (continued)
October 31, 2022 (Unaudited)

“fringe” products, such as micro finance and peer-to-peer lending (which are untested through crisis), and those associated with a more leveraged, sub-prime borrower.

The U.S. Federal Reserve (Fed) will likely need to do more than the market anticipates, and the impact of the Fed and U.S. dollar strength will negatively impact other countries, in our view.

In a market characterized by uncertainty, we believe we will see more volatility, more limited liquidity, and more idiosyncratic risk. From our perspective, traditional risk premia remain too low given the uncertainty and potential for rapid change.

Within credit, securitized fixed income has been more impacted by the pull-back in demand from banks, which have been material buyers in the lower-duration space. With lower duration, shorter tenor (the length of time to maturity), and stronger fundamentals (collateralization), we believe the value proposition versus other traditional income investments is strong, particularly in AAA-rated securities.

Important Risks

Investing involves risk, including the possible loss of principal. Security prices fluctuate in value depending on general market and economic conditions and the prospects of individual companies. • Fixed income security risks include credit, liquidity, call, duration, event and interest-rate risk. As interest rates rise, bond prices generally fall. • The risks associated with mortgage-related and asset-backed securities as well as collateralized loan obligations (CLOs) include credit, interest-rate, prepayment, liquidity, default and extension risk. • Foreign investments may be more volatile and less liquid than U.S. investments and are subject to the risk of currency fluctuations and adverse political, economic and regulatory developments. • Derivatives are generally more volatile and sensitive to changes in market or economic conditions than other securities; their risks include currency, leverage, liquidity, index, pricing, regulatory and counterparty risk. • Integration of environmental, social, and/or governance (ESG) characteristics into the investment process may not work as intended. • Obligations of U.S. Government agencies are supported by varying degrees of credit but are generally not backed by the full faith and credit of the U.S. Government. • Restricted securities may be more difficult to sell and price than other securities. • The purchase of securities in the To-Be-Announced (TBA) market can result in higher portfolio turnover and related expenses as well as price and counterparty risk. • The Fund may use repurchase agreements, which can increase risk and volatility. • Investments in high-yield (“junk”) bonds involve greater risk of price volatility, illiquidity, and default than higher-rated debt securities. • Changes related to LIBOR could have an adverse impact on financial instruments that reference this rate.

Composition by Security Type⁽¹⁾
as of 10/31/2022
Category	Percentage of Net Assets
Equity Securities
Common Stocks	1.5%
Fixed Income Securities
Asset & Commercial Mortgage-Backed Securities	87.8%
Corporate Bonds	1.4
U.S. Government Agencies⁽²⁾	4.8
Total	94.0%
Short-Term Investments	8.8
Other Assets & Liabilities	(4.3)
Total	100.0%

⁽¹⁾	For Fund compliance purposes, the Fund may not use the same classification system. These classifications are used for financial reporting purposes.
⁽²⁾	All, or a portion of the securities categorized as U.S. Government Agencies, were agency mortgage-backed securities as of October 31, 2022.

Table of Contents

Hartford Schroders Sustainable International Core Fund

Fund Overview
October 31, 2022 (Unaudited)

Inception 05/24/2022
Sub-advised by Schroder Investment Management North America Inc. and its
sub-sub-adviser, Schroder Investment Management North America Limited

Investment objective – The Fund seeks long-term capital appreciation while giving special consideration to certain sustainability criteria.

Comparison of Change in Value of $5,000,000 Investment (05/24/2022 - 10/31/2022)

The chart above represents the hypothetical growth of a $5,000,000 investment in Class SDR. Returns for Class I may vary from what is seen above due to differences in the expenses charged to Class I.

Cumulative Total Returns
for the Period Ended 10/31/2022
	Since Inception¹
Class I	-14.00%
Class SDR	-14.00%
MSCI ACWI ex USA Index (Net)	-12.31%

¹	Inception: 05/24/2022

You cannot invest directly in an index.

See "Benchmark Glossary" for benchmark descriptions.

Operating Expenses^*	Gross	Net
Class I	1.21%	0.85%
Class SDR	1.12%	0.70%

Expenses as shown in the Fund’s most recent prospectus. Gross expenses do not reflect contractual expense reimbursement arrangements. Net expenses reflect such arrangements in instances when they reduce gross expenses. These arrangements remain in effect until 02/29/2024 unless the Fund’s Board of Directors approves an earlier termination. Actual expenses may be higher or lower. Please see accompanying Financial Highlights for expense ratios for the period ended 10/31/2022.

Table of Contents

Hartford Schroders Sustainable International Core Fund

Fund Overview – (continued)
October 31, 2022 (Unaudited)

Portfolio Manager

Hartford Schroders Sustainable International Core Fund’s sub-adviser is Schroder Investment Management North America Inc. and its sub-sub-adviser is Schroder Investment Management North America Limited.

Nicholette MacDonald-Brown, CFA

Portfolio Manager

Manager Discussion

How did the Fund perform during the period?

The Class SDR shares of the Hartford Schroders Sustainable International Core Fund returned -14.00% for the period since inception on May 24, 2022 to October 31, 2022, underperforming the Fund’s benchmark, the MSCI ACWI ex USA Index (Net), which returned -12.31% for the same period. For the same period, the Class SDR shares of the Fund also underperformed the -12.02% average return of the Lipper International Multi-Cap Core peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

During the period, international equities struggled as investors became increasingly concerned over rising inflation, higher interest rates, and a global economic slowdown. Our investment approach does not rely on taking large style or factor bets, but focuses instead on individual mispriced opportunities while seeking to retain diversification. As part of our investment process, we also use our proprietary sustainability tools to evaluate investments for the Fund. Stock selection in the Consumer Staples, Industrials, and Materials sectors detracted from the Fund’s performance during the period.

Within the Consumer Staples sector, China Mengniu Dairy Company, salmon farmer Mowi, and French supermarket Carrefour were the leading detractors from Fund performance for the period. Mowi disappointed in the wake of news that Norway is proposing a new resource tax on salmon and trout farming.

Among companies in the Industrials sector, Chinese multinational manufacturer Sany Heavy Industry as well as Toyota Industries were detractors to the Fund’s relative performance during the period. Toyota Industries is a component supplier within the Toyota Group, which weakened along with most of the auto sector. Chinese equities saw sharper sell-offs compared to other Asian equities. China continued its zero-Covid policy during the period, which had negative implications for global supply chains. Investors also focused on Chinese Premier Xi Jinping’s historic third five-year term and whether that could result in fewer opportunities for foreign investment, as well as rising tensions between Taiwan and China.

The Fund’s cyclical holdings, including miners Newcrest Mining and Rio Tinto, together with stainless steelmaker Outokumpu, led the detractors from relative performance within the Materials sector for the

period. Weaker copper pricing influenced Newcrest Mining; however, Outokumpu reported strong earnings and encouraging guidance during the period.

On the positive side, the Fund’s holdings in Bank of Ireland and payments group Network International were among the largest contributors to the Fund’s relative performance during the period. Bank of Ireland benefited from rising interest rates, which had a positive impact on their net interest margins. Network International announced a good set of results and a share buyback program.

Derivatives in the form of futures were used in the Fund during the period, and they had a positive impact on relative performance.

What is the outlook as of the end of the period?

Despite the July 2022 rally, the market environment has been tough for equities as of the end of the period. As we draw near to the end of the third-quarter corporate earnings season, we expect banks to upgrade their earnings expectations due to the rising interest-rate environment, while many others, particularly cyclical sectors, we expect will be announcing downgrades to their earnings expectations.

We have observed that, while market valuations have fallen during the period, we believe the mood for many investors remains one of deep pessimism. A turning point may come if we see signs that inflation is peaking. The cost of freight and some commodities has been dropping, but we are not there yet in terms of seeing the same outcome for overall inflation.

Important Risks

The Fund is new and has a limited operating history. Investing involves risk, including the possible loss of principal. Security prices fluctuate in value depending on general market and economic conditions and the prospects of individual companies. • Foreign investments may be more volatile and less liquid than U.S. investments and are subject to the risk of currency fluctuations and adverse political, economic and regulatory developments. These risks may be greater, and include additional risks, for investments in emerging markets or if the Fund focuses in a particular geographic region or country. • Mid-cap securities can have greater risks and volatility than large-cap securities. • Applying sustainability criteria to the investment process may result in foregoing certain investments and underperformance comparative to funds that do not have a similar focus. There is a risk that the securities identified by the sub-adviser as meeting its sustainable investing criteria do not operate as anticipated. • To the extent the Fund focuses on one or more sectors, the Fund may be subject to increased volatility and risk of loss if adverse developments

Table of Contents

Hartford Schroders Tax-Aware Bond Fund

Fund Overview
October 31, 2022 (Unaudited)

Inception 10/03/2011
Sub-advised by Schroder Investment Management North America Inc. and its
sub-sub-adviser, Schroder Investment Management North America Limited

Investment objective – The Fund seeks total return on an after-tax basis.

Comparison of Change in Value of $10,000 Investment (10/31/2012 - 10/31/2022)

Average Annual Total Returns
for the Periods Ended 10/31/2022
	1 Year	5 Years	10 Years
Class A¹	-13.33%	-0.29%	1.53%
Class A²	-17.23%	-1.20%	1.06%
Class C¹	-14.04%	-1.13%	1.11%
Class C³	-14.89%	-1.13%	1.11%
Class I¹	-13.12%	-0.07%	1.77%
Class Y¹	-13.18%	-0.13%	1.74%
Class F¹	-13.09%	-0.05%	1.78%
Class SDR¹	-13.10%	-0.05%	1.77%
Bloomberg Municipal Bond Index	-11.98%	0.37%	1.68%

¹	Without sales charge
²	Reflects maximum sales charge of 4.50%
³	Reflects a contingent deferred sales charge of 1.00%

Effective immediately before the opening of business on 10/24/2016, the Schroder Broad Tax-Aware Value Bond Fund (the “Predecessor Fund”) was reorganized into the Fund. The performance information shown for periods prior to 10/24/2016 is that of the Predecessor Fund and the Predecessor Fund’s predecessor. Prior to 10/24/2016, Class A and Class I were called Advisor Shares and Investor Shares, respectively. Performance for Class A shares prior to 12/30/2014 (the inception date of the Predecessor Fund’s Advisor Shares) reflects the performance of the Predecessor Fund’s Investor Shares adjusted to reflect the distribution fees of the Predecessor Fund’s Advisor Shares. Class C, Class Y and Class SDR shares commenced operations on 10/24/2016 and performance prior to this date reflects the performance of the Predecessor Fund’s Investor Shares. Class F shares commenced operations on 02/28/2017 and performance prior to that date is that of the Fund’s Class I shares. Performance prior to Class F’s inception date has not been adjusted to reflect the operating expenses of Class F. The returns would be different if the Fund’s fees and expenses were reflected for periods prior to 10/24/2016. Performance for the Fund prior to 06/14/2013 reflects performance of the Predecessor Fund’s predecessor.

You cannot invest directly in an index.

See "Benchmark Glossary" for benchmark descriptions.

Table of Contents

Hartford Schroders Tax-Aware Bond Fund

Fund Overview – (continued)
October 31, 2022 (Unaudited)

Operating Expenses^*	Gross	Net
Class A	0.82%	0.71%
Class C	1.64%	1.59%
Class I	0.59%	0.49%
Class Y	0.62%	0.56%
Class F	0.51%	0.46%
Class SDR	0.51%	0.46%

Portfolio Managers

Hartford Schroders Tax-Aware Bond Fund’s sub-adviser is Schroder Investment Management North America Inc. and its sub-sub-adviser is Schroder Investment Management North America Limited.

Lisa Hornby, CFA

Portfolio Manager

Neil G. Sutherland, CFA

Portfolio Manager

Julio C. Bonilla, CFA

Portfolio Manager

David May

Portfolio Manager

Manager Discussion

How did the Fund perform during the period?

The Class A shares of the Hartford Schroders Tax-Aware Bond Fund returned -13.33%, before sales charges, for the twelve-month period ended October 31, 2022, underperforming the Fund’s benchmark, the Bloomberg Municipal Bond Index, which returned -11.98% for the same period. For the same period, the Class A shares of the Fund, before sales charges, outperformed the -14.07% average return of the Lipper General & Insured Municipal Debt Funds peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

During the period, inflation was higher and more persistent than anticipated, driven by continuing labor-market strength, supply-side disruption related to the Russia/Ukraine war, and COVID quarantines in China. This led to a more aggressive interest-rate hiking cycle by the U.S. Federal Reserve (Fed), which has driven rates higher across the yield curve. With the 10-year Treasury yield higher by 250 basis points (bps) over the period, fixed-income markets experienced negative absolute returns, negative excess returns, and elevated volatility.

The Fund underperformed the Bloomberg Municipal Bond Index for the twelve-month period ended October 31, 2022 due to negative issuer selection. Specific tax-exempt bonds were the main factor, with tax-exempt federal agency bonds detracting the most from performance, and smaller impacts from tax-exempt housing and tax-exempt transportation bonds. Federal agency bonds saw their spreads widen materially given the material outflows for tax-exempt bonds as a result of higher Treasury yields during the period. For the tax-exempt housing bonds, the story was similar; however, the tax-exempt transportation bonds were also impacted by higher gas prices.

Although the Fund underperformed the Bloomberg Municipal Bond Index for the period, sector allocation was a materially positive factor due to the Fund’s specific underweights within tax-exempt bonds, including underweights to general-obligation bonds (GOs), transportation, utilities, and other revenue bonds (tax-exempt exposure overall was 34% lower than the benchmark on average over the period). These allocations helped offset the negative impact to Fund performance from the Fund’s out-of-benchmark allocation to corporate bonds during the period (which was 24% lower than the benchmark on average over the period). Yield curve and duration impacts were negative factors, which detracted from the Fund’s performance relative to the Bloomberg Municipal Bond Index during

Table of Contents

Hartford Schroders Tax-Aware Bond Fund

Fund Overview – (continued)
October 31, 2022 (Unaudited)

the period. These impacts were generally the fallout from the sector allocation decisions, as the corporate bonds in the Fund were not part of the benchmark and resulted in more exposure at the shorter end of the maturity curve where rates rose the most.

During the period, the Fund used derivatives, such as futures, to manage duration within the portfolio. The use of such derivatives had no material impact on performance for the period.

What is the outlook as of the end of the period?

Fixed-income markets have undergone historic drawdowns during the period and have not provided the ballast many investors expected during these market conditions. We believe that fixed-income securities now offer a singular opportunity for longer-term investors seeking attractive absolute yields, diversification, and total returns. With Treasury yields as high as they were at the end of the period, we believe there is less need to extend out along the risk spectrum, particularly given our view that the U.S. economy is likely to enter an economic recession in the coming months. In addition, with generous short corporate break-even buffers (i.e., the yield to which bonds would have to rise for capital losses to offset the income earned over 12 months) combined with accumulated interest-rate increases that are expected to slow the economy, and inflation cresting, we believe the opportunity with fixed income is considerable.

Important Risks

Investing involves risk, including the possible loss of principal. Security prices fluctuate in value depending on general market and economic conditions and the prospects of individual companies. • Fixed income security risks include credit, liquidity, call, duration, and interest-rate risk. As interest rates rise, bond prices generally fall. • Municipal securities may be adversely impacted by state/local, political, economic, or market conditions; these risks may be magnified if the Fund focuses its assets in municipal securities of issuers in a few select states. Investors may be subject to the federal Alternative Minimum Tax as well as state and local income taxes. Capital gains, if any, are taxable. • Obligations of U.S. Government agencies are supported by varying degrees of credit but are generally not backed by the full faith and credit of the U.S. Government. • Mortgage-related and asset-backed securities’ risks include credit, interest-rate, prepayment, and extension risk. • The purchase of securities in the To-Be-Announced (TBA) market can result in higher portfolio turnover and related expenses as well as price and counterparty risk. • Derivatives are generally more volatile and sensitive to changes in market or economic conditions than other securities; their risks include currency, leverage, liquidity, index, pricing, regulatory and counterparty risk. • Foreign investments may be more volatile and less liquid than U.S. investments and are subject to the risk of currency fluctuations and adverse political, economic and regulatory developments. • Integration of environmental, social, and/or governance (ESG) characteristics into the investment process may not work as intended. • The Fund may have high portfolio turnover, which could increase its transaction costs and an investor’s tax liability.

Composition by Security Type⁽¹⁾
as of 10/31/2022
Category	Percentage of Net Assets
Fixed Income Securities
Corporate Bonds	10.0%
Municipal Bonds	78.3
U.S. Government Agencies⁽²⁾	1.0
U.S. Government Securities	9.5
Total	98.8%
Short-Term Investments	2.6
Other Assets & Liabilities	(1.4)
Total	100.0%

⁽¹⁾	For Fund compliance purposes, the Fund may not use the same classification system. These classifications are used for financial reporting purposes.
⁽²⁾	All, or a portion of the securities categorized as U.S. Government Agencies, were agency mortgage-backed securities as of October 31, 2022.

Table of Contents

Hartford Schroders US MidCap Opportunities Fund

Fund Overview
October 31, 2022 (Unaudited)

Inception 03/31/2006
Sub-advised by Schroder Investment Management North America Inc.

Investment objective – The Fund seeks capital appreciation.

Comparison of Change in Value of $10,000 Investment (10/31/2012 - 10/31/2022)

Average Annual Total Returns
for the Periods Ended 10/31/2022
	1 Year	5 Years	10 Years
Class A¹	-10.46%	6.68%	10.99%
Class A²	-15.38%	5.48%	10.36%
Class C¹	-11.16%	5.88%	10.59%
Class C³	-11.93%	5.88%	10.59%
Class I¹	-10.25%	6.96%	11.28%
Class R3¹	-10.81%	6.29%	10.86%
Class R4¹	-10.47%	6.65%	11.08%
Class R5¹	-10.22%	6.93%	11.25%
Class Y¹	-10.29%	6.96%	11.28%
Class F¹	-10.18%	7.05%	11.33%
Class SDR¹	-10.12%	7.05%	11.36%
Russell Midcap Index	-17.17%	7.95%	11.36%
Russell 2500 Index	-17.58%	7.07%	10.70%

¹	Without sales charge
²	Reflects maximum sales charge of 5.50%
³	Reflects a contingent deferred sales charge of 1.00%

adjustments that are necessary under generally accepted accounting principles. As a result, the total returns in the Financial Highlights section may differ from the total returns presented above.

Effective immediately before the opening of business on 10/24/2016, the Schroder U.S. Small and Mid Cap Opportunities Fund (the “Predecessor Fund”) was reorganized into the Fund. The performance information shown for periods prior to 10/24/2016 is that of the Predecessor Fund. Prior to 10/24/2016, Class A, Class I and Class SDR were called Advisor Shares, Investor Shares and R6 Shares, respectively. Class C, Class R3, Class R4, Class R5, and Class Y shares commenced operations on 10/24/2016 and performance prior to this date reflects the performance of the Predecessor Fund’s Investor Shares. Performance for Class SDR shares prior to 12/30/2014 (the inception date of the Predecessor Fund’s Class R6 Shares) reflects the performance of the Predecessor Fund’s Investor Shares. Class F shares commenced operations on 02/28/2017 and performance prior to that date is that of the Fund’s Class I shares. Performance prior to Class F’s inception date has not been adjusted to reflect the operating expenses of Class F. The returns would be different if the Fund’s fees and expenses were reflected for periods prior to 10/24/2016.

Performance information prior to 05/01/2019 reflect when the Fund invested at least 80% of its assets in securities of companies considered by Schroder Investment Management North America Inc. to be small- or mid-cap companies located in the United States.

You cannot invest directly in an index.

See "Benchmark Glossary" for benchmark descriptions.

Performance information may reflect expense waivers/reimbursements without which performance would have been lower.

Table of Contents

Hartford Schroders US MidCap Opportunities Fund

Fund Overview – (continued)
October 31, 2022 (Unaudited)

Operating Expenses^*	Gross	Net
Class A	1.16%	1.16%
Class C	1.90%	1.90%
Class I	0.89%	0.89%
Class R3	1.52%	1.52%
Class R4	1.22%	1.22%
Class R5	0.92%	0.92%
Class Y	0.91%	0.91%
Class F	0.80%	0.80%
Class SDR	0.80%	0.80%

^*	Expenses as shown in the Fund’s most recent prospectus. Actual expenses may be higher or lower. Please see accompanying Financial Highlights for expense ratios for the period ended 10/31/2022.

Portfolio Manager

Hartford Schroders US MidCap Opportunities Fund’s sub-adviser is Schroder Investment Management North America Inc.

Robert Kaynor, CFA

Portfolio Manager

Manager Discussion

How did the Fund perform during the period?

The Class A shares of the Hartford Schroders US MidCap Opportunities Fund returned -10.46%, before sales charges, for the twelve-month period ended October 31, 2022, outperforming both the Fund’s primary benchmark, the Russell Midcap Index, which returned -17.17% for the period, and the Fund’s secondary benchmark, the Russell 2500 Index, which returned -17.58% for the same period. For the same period, the Class A shares of the Fund, before sales charges, outperformed the -10.61% average return of the Lipper Mid-Cap Core peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

U.S. mid-capitalization equities, as measured by the Russell Midcap Index, declined over the twelve-month period ended October 31, 2022 by -17.16%. Markets started off the year on the wrong footing, giving back some of the strong gains seen in the fourth quarter of 2021. This was in response to predictions for tighter monetary policy from the U.S. Federal Reserve (Fed) due to higher inflation data. Combined with Russia’s invasion of Ukraine, existing concerns over inflation pressures increased, particularly for food and energy. The first three quarters of 2022 saw negative returns and ended with the reality that inflation was going to be harder to tame than most originally thought.

During the period, we invested the Fund’s assets in a combination of stock types that can be classified into the following three categories: “Steady Eddies” (companies we believe have recurring earnings/cash flow/revenue characteristics), “Turnarounds” (companies we believe have experienced business or operational difficulties but may potentially have a catalyst to help them return to a growth path), and “Mispriced Growth” (companies we believe have unrecognized or under-appreciated growth dynamics that will be rewarded over time).

The Fund’s holdings in the “Mispriced Growth”, “Steady Eddies” and “Turnarounds” categories contributed positively to the Fund’s relative returns for the period.

Over the period, the most significant contribution to the Fund’s outperformance relative to the Russell Midcap Index during the period was stock selection, particularly in the Technology, Financials, and Industrials sectors. Technology was the worst-performing sector in the benchmark, down -37% over the period. Within the Technology sector, stock selection within software, which the Fund was underweight, contributed positively to returns relative to the Russell Midcap Index.

The Fund was overweight to the Financials sector, and particularly to insurance brokers and life insurance, which contributed positively to performance relative to the Russell Midcap Index over the period. Specifically, the Fund’s holdings in insurance brokers performed well, and the Fund also benefited from not owning certain companies within the group that were benchmark constituents. In life insurance, the Fund’s holdings benefited from upbeat earnings results. The Fund tends to have a large weight in life insurance and insurance brokers rather than banks as we believe they are less interest-rate sensitive and more cyclical. Additionally, the Fund’s positioning in the investment services industry contributed positively over the period relative to the Russell Midcap Index due to stock selection within the industry.

Within the Industrials sector, the Fund’s stock selection contributed positively over the period, as did the Fund’s overweight in the defense industry. The start of the war in Ukraine early in 2022 boosted prospects for both defense and nuclear industries. Stock selection within electronic equipment benefited the Fund during the period.

The sectors that detracted the most from Fund performance over the period were the Basic Materials and Consumer Staples sectors. Basic Materials is the smallest weight in the Fund and lagged due to a significant underweight. The Fund holds two names within the sector,

Table of Contents

Hartford Schroders US MidCap Opportunities Fund

Fund Overview – (continued)
October 31, 2022 (Unaudited)

and that is strictly due to stock selection and the difficulties of investing outside of the specialty chemicals space. The Consumer Staples sector also lagged due to the Fund’s underweight for the period. The Fund only had exposure in the food products industry, which benefited the Fund over the period from a stock selection perspective.

Top contributors to the Fund’s performance relative to the Russell Midcap Index during the period included Hershey Company (Consumer Staples sector), ON Semiconductor (Technology sector), and Amdocs (Technology sector). Hershey produces snack, chocolate, and non-chocolate confectionary. The company announced strong quarterly results over the period with Reese’s demand driving growth, and saw net sales rise year-over-year to over $2 billion. ON Semiconductor designs, manufactures, and markets a portfolio of semiconductor components. The company announced quarterly revenues exceeding $2 billion for the first time ever, driven by industrial and primarily automotive strength. Amdocs specializes in software and services for communications, media, and financial services providers and digital enterprises. The company announced that it acquired U.K. company MYCOM OSI for $188 million. MYCOM provides Software as a Service (SaaS) solutions, allowing Amdocs to expand its portfolio in SaaS-based cloud and service assurance offerings.

Over the period, the largest detractors from the Fund’s performance relative to the Russell Midcap Index were Match Group (Technology sector), Catalent Inc (Healthcare sector) and Masimo Corporation (Healthcare sector). Match Group is a provider of online dating products. The stock fell victim to the higher-growth names trading off later in the period coupled with poor guidance announcements throughout the year. The company also announced the CEO would be stepping down. Catalent provides delivery technologies, development, drug manufacturing, biologics, gene therapies, and consumer health products. The company’s management team issued lower-than-expected initial outlook for fiscal year 2023, which caused concern for investors, and the stock subsequently traded down. Masimo Corporation is a global medical technology company that develops, manufactures, and markets non-invasive technologies and hospital automation solutions. The stock fell in February 2022 as the company announced its biggest deal ever, the acquisition of consumer tech company Sound United for $1 billion.

Derivatives were not used in the Fund during the period.

What is the outlook as of the end of the period?

As of the end of the period, markets have been adjusting to the rise in interest rates through a revaluation of the share price multiples for different companies. An increase in interest rates generally means investors will not pay as much for longer-term growth, which is why the share prices of highly valued growth companies have fallen. At some point when there is more clarity about when interest rates might peak, we believe the focus will shift to how company profitability is being affected.

In our view, the next shoe to drop is the delayed impact of monetary policy in the form of interest-rate increases on company earnings. We believe that the impact could be felt in a number of guises. In our view, the most obvious is falling demand, and we expect that it will be felt

especially by companies that have not adjusted their inventories in anticipation of a slowing economy. We believe it will also be painful for companies that relied on pricing power to support revenues. We expect that financial strains will intensify as interest rates continue to rise and economic activity slows. In our view, other areas of caution could include margin pressure in retail from elevated inventories stemming from both inflation and economic normalization, longer cycles in technology, and some cancelling of hiring plans and even layoffs.

The next earnings season will start to indicate how companies might be faring into 2023. In our view, this is not a time to buy companies just because their share prices have fallen a long way. In this environment, we believe that very often the cheapest companies can turn out to be the most expensive.

There remains a strong case for investing in U.S. mid- and small-cap companies in the longer term. We believe valuations, in particular, are already pricing in earnings revisions, which offers support for companies who are adjusting their profitability and upside opportunities for companies who beat expectations. U.S. smaller companies are more exposed to the domestic economy, which we believe in some areas will be boosted by the reshoring benefits of U.S. manufacturers and multinationals investing in production and supply chains in the U.S.

Mid and small caps have been outperforming large caps since the end of January 2022, and this trend continued in the third quarter of 2022. This is unusual in a period of recessionary fears, but we believe this partially reflects much cheaper valuations and consequently less risk to earnings revisions. As of the end of the period, we think this outperformance should continue, but stock selection will become increasingly important.

Important Risks

Investing involves risk, including the possible loss of principal. Security prices fluctuate in value depending on general market and economic conditions and the prospects of individual companies. • Mid-cap securities can have greater risks and volatility than large-cap securities. • To the extent the Fund focuses on one or more sectors, the Fund may be subject to increased volatility and risk of loss if adverse developments occur. • Integration of environmental, social, and/or governance (ESG) characteristics into the investment process may not work as intended.

Table of Contents

Hartford Schroders US Small Cap Opportunities Fund

Fund Overview
October 31, 2022 (Unaudited)

Inception 08/06/1993
Sub-advised by Schroder Investment Management North America Inc.

Investment objective – The Fund seeks capital appreciation.

Comparison of Change in Value of $10,000 Investment (10/31/2012 - 10/31/2022)

Average Annual Total Returns
for the Periods Ended 10/31/2022
	1 Year	5 Years	10 Years
Class A¹	-12.56%	5.84%	10.06%
Class A²	-17.37%	4.65%	9.44%
Class C¹	-13.24%	5.05%	9.69%
Class C³	-14.02%	5.05%	9.69%
Class I¹	-12.35%	6.15%	10.39%
Class R3¹	-12.83%	5.55%	10.03%
Class R4¹	-12.57%	5.91%	10.23%
Class R5¹	-12.30%	6.17%	10.38%
Class Y¹	-12.32%	6.19%	10.41%
Class F¹	-12.21%	6.27%	10.45%
Class SDR¹	-12.23%	6.27%	10.47%
Russell 2000 Index	-18.54%	5.56%	9.93%

¹	Without sales charge
²	Reflects maximum sales charge of 5.50%
³	Reflects a contingent deferred sales charge of 1.00%

adjustments that are necessary under generally accepted accounting principles. As a result, the total returns in the Financial Highlights section may differ from the total returns presented above.

Effective immediately before the opening of business on 10/24/2016, the Schroder U.S. Opportunities Fund (the “Predecessor Fund”) was reorganized into the Fund. The performance information shown for periods prior to 10/24/2016 is that of the Predecessor Fund. Prior to 10/24/2016, Class A, Class I and Class SDR were called Advisor Shares, Investor Shares and R6 Shares, respectively. Class C, Class R3, Class R4, Class R5, and Class Y shares commenced operations on 10/24/2016 and performance prior to this date reflects the performance of the Predecessor Fund’s Investor Shares. Performance for Class SDR shares prior to 09/28/2015 (the inception date of the Predecessor Fund’s Class R6 Shares) reflects the performance of the Predecessor Fund’s Investor Shares. Class F shares commenced operations on 02/28/2017 and performance prior to that date is that of the Fund’s Class I shares. Performance prior to Class F’s inception date has not been adjusted to reflect the operating expenses of Class F. The returns would be different if the Fund’s fees and expenses were reflected for periods prior to 10/24/2016.

You cannot invest directly in an index.

See "Benchmark Glossary" for benchmark descriptions.

Table of Contents

Hartford Schroders US Small Cap Opportunities Fund

Fund Overview – (continued)
October 31, 2022 (Unaudited)

Operating Expenses^*	Gross	Net
Class A	1.38%	1.35%
Class C	2.12%	2.10%
Class I	1.08%	1.08%
Class R3	1.70%	1.65%
Class R4	1.40%	1.35%
Class R5	1.10%	1.05%
Class Y	1.09%	1.05%
Class F	0.99%	0.95%
Class SDR	0.99%	0.95%

Portfolio Manager

Hartford Schroders US Small Cap Opportunities Fund’s sub-adviser is Schroder Investment Management North America Inc.

Robert Kaynor, CFA

Portfolio Manager

Manager Discussion

How did the Fund perform during the period?

The Class A shares of the Hartford Schroders US Small Cap Opportunities Fund returned -12.56%, before sales charges, for the twelve-month period ended October 31, 2022, outperforming the Fund’s benchmark, the Russell 2000 Index, which returned -18.54% for the same period. For the same period, the Class A shares of the Fund, before sales charges, underperformed the -11.64% average return of the Lipper Small-Cap Core peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

U.S. small-capitalization equities, as measured by the Russell 2000 Index, returned -18.54% over the twelve-month period ended October 31, 2022. Markets started off the year on the wrong footing, giving back some of the strong gains seen in the fourth quarter of 2021. This was in response to predictions for tighter monetary policy from the U.S. Federal Reserve (Fed) due to higher inflation data. Combined with the war in Ukraine, existing concerns were heightened over inflation pressures, particularly through food and energy. The first three quarters of 2022 saw negative returns and ended with the reality that inflation was going to be harder to tame than most originally thought.

under-appreciated growth dynamics that will be rewarded over time). The Fund’s holdings in the “Mispriced Growth”, “Steady Eddies” and “Turnarounds” categories contributed positively to the Fund’s relative returns for the period.

The most significant contribution to the Fund’s outperformance relative to the Russell 2000 Index during the twelve-month period was stock selection, particularly in the Consumer Discretionary and Financials sectors. Stock selection contributed positively within the home construction industry, particularly within the manufactured housing industry. Excluding manufactured housing, the Fund was underweight to the Consumer Discretionary sector, a shift that occurred in 2020 and has held since, as consumers have continued to feel pressure from rising prices. Within the Consumer Services sector, the Fund benefited from stock selection as well as an overweight position.

In the Financials sector, the Fund had an equal weight to the Russell 2000 Index over the period, but stock selection drove positive performance relative to the benchmark. The Fund’s exposure in banks was one of the best performers over the period due to an allocation to community banks, which in our view are traditionally higher quality with a more defensive business model type. Noteworthy contributors in the banking industry were First Bancorp, Heritage Financial Corporation, and First Merchants Corporation. The Fund’s lone holding in life insurance, Reinsurance Group of America, was one of the biggest contributors over the period as premiums grew and gave the company the ability to deploy excess capital.

The sector that detracted the most from the Fund’s performance over the period was the Energy sector. Despite having good stock selection in the sector, the Fund has historically been and remains underweight

Table of Contents

Hartford Schroders US Small Cap Opportunities Fund

Fund Overview – (continued)
October 31, 2022 (Unaudited)

to the Energy sector. The sector dominated market performance in the first half of 2022. Due to this underweight, the Fund lagged significantly due to sector allocation specifically in crude producers.

Top contributors to the Fund’s performance relative to the Russell 2000 Index over the period included Plantronics (Telecommunications), Reinsurance Group of America (Financials), and Science Applications International (Industrials). Plantronics designs, manufactures and markets integrated communications such as headsets, video, and voice services. The company reached an agreement with HP to be purchased for $3.3 billion during the period. Reinsurance Group of America provides traditional life and health reinsurance and financial solutions. The company has seen solid premium growth across all regions of their business for the period. Science Applications International is a provider of technical, engineering and enterprise IT services primarily to the United States Government. The company announced strong earnings and guidance numbers over the period and has been executing its Army IT services renewal contracts from last year and winning new contracts and awards.

Over the period, the largest detractors from the Fund’s performance relative to the Russell 2000 Index were LiveRamp Holdings (Technology), NeoGenomics, Inc. (Healthcare), and Semtech Corporation (Technology). LiveRamp Holdings is a global technology company that provides enterprise data connectivity platform that helps organizations to leverage customer data. Despite satisfactory quarterly results during 2022, the company tapered guidance in consecutive quarters as the impending recession fears created caution among LiveRamp’s clients. NeoGenomics, Inc. is an operator of a network of cancer-focused testing laboratories. The company was caught in the growth to value rotation. Additionally, the company announced the departure of its CEO during the period. The company also suspended its annual guidance. Semtech Corporation is a supplier of analog and mixed-signal semiconductor products and advanced algorithms. The company reported a very weak fiscal third-quarter/fourth-quarter outlook with a deteriorating macroeconomic outlook, notably in China, which is driving consumer softness and supply constraints. The company also announced a deal to acquire Sierra Wireless, which received mixed reviews.

Derivatives were not used in the Fund during the period.

What is the outlook as of the end of the period?

As of the end of the period, markets have been adjusting to the rise in interest rates through a revaluation of the share price multiples for different companies. An increase in interest rates generally means investors will not pay as much for longer term growth which is why the share prices of highly valued growth companies have fallen. At some point when there is more clarity about when interest rates might peak, we believe the focus will shift to how company profitability is being affected.

In our view, the next shoe to drop is the delayed impact of monetary policy in the form of interest rate increases on company earnings. We believe that the impact could be felt in a number of guises. In our view, the most obvious is falling demand, and we expect that it will be felt especially by companies that have not adjusted their inventories in

anticipation of a slowing economy. We believe it will also be painful for companies that relied on pricing power to support revenues. We expect that financial strains will intensify as interest rates continue to rise and economic activity slows. In our view, other areas of caution could include margin pressure in retail from elevated inventories stemming from both inflation and economic normalization, longer cycles in technology and some cancelling of hiring plans and even layoffs.

There remains a strong case for investing in U.S. mid- and small-cap companies in the longer term. We believe valuations, in particular, are already pricing in earnings revisions which offers support for companies who are adjusting their profitability and upside opportunities for companies who beat expectations. U.S. smaller companies are more exposed to the domestic economy, which we believe in some areas will be boosted by the reshoring benefits of U.S. manufacturers and multinationals investing in production and supply chains in the U.S.

Mid and small caps have been outperforming large caps since the end of January 2022, and this trend continued in the third quarter of 2022. This is unusual in a period of recessionary fears but we believe this partially reflects much cheaper valuations and consequently less risk to earnings revisions. As of the end of the period, we think this outperformance should continue but stock selection will become increasingly important.

Important Risks

Investing involves risk, including the possible loss of principal. Security prices fluctuate in value depending on general market and economic conditions and the prospects of individual companies. • Small-cap securities can have greater risks, including liquidity risk, and volatility than large-cap securities. • To the extent the Fund focuses on one or more sectors, the Fund may be subject to increased volatility and risk of loss if adverse developments occur. • Integration of environmental, social, and/or governance (ESG) characteristics into the investment process may not work as intended.

Table of Contents

Hartford Schroders Funds

Benchmark Glossary (Unaudited)

Bloomberg Municipal Bond Index (reflects no deduction for fees, expenses or taxes) is designed to cover the USD-denominated long-term tax-exempt bond market.

ICE BofA US ABS & CMBS Index (reflects no deduction for fees, expenses or taxes) tracks the performance of US dollar denominated investment grade fixed and floating rate asset backed securities and fixed rate commercial mortgage backed securities publicly issued in the US domestic market.

ICE BofA 1-3 Year US Corporate Index (reflects no deduction for fees, expenses or taxes) is designed to measure the performance of US investment-grade corporate debt with a remaining term to maturity of less than 3 years.

JP Morgan Emerging Markets Blended Index (JEMB) - Equal Weighted (reflects no deduction for fees, expenses or taxes) is a blended index produced by JP Morgan that is comprised of 1/3 JP Morgan GBI Emerging Markets Global Diversified Index, 1/3 JP Morgan EMBI Global Diversified Index, and 1/3 JP Morgan CEMBI Broad Diversified Index. The JEMB - Equal Weighted is designed to blend US dollar and local currency denominated sovereign, quasi-sovereign and corporate bonds in equal proportion.

MSCI ACWI (All Country World) ex USA Index (Net) (reflects reinvested dividends net of withholding taxes but reflects no deduction for fees, expenses or other taxes) is designed to capture large and mid cap securities across developed markets (excluding the US) and emerging market countries.

MSCI ACWI (All Country World) ex USA Value Index (Net) (reflects reinvested dividends net of withholding taxes but reflects no deduction for fees, expenses or other taxes) is designed to capture large and mid cap securities exhibiting overall value style characteristics across developed (excluding the US) and emerging markets countries. The value investment style characteristics for index construction are defined using three variables: book value to price, 12-month forward earnings to price and dividend yield.

MSCI China A Onshore Index (Net) (reflects reinvested dividends net of withholding taxes but reflects no deduction for fees, expenses or other taxes) is designed to capture large and mid-cap securities across China securities listed on the Shanghai and Shenzhen exchanges. The index covers only those securities that are accessible through “Stock Connect”.

MSCI EAFE Index (Net) (reflects reinvested dividends net of withholding taxes but reflects no deduction for fees, expenses or other taxes) is designed to capture large and mid cap securities across developed market countries, excluding the US and Canada.

MSCI EAFE Value Index (Net) (reflects reinvested dividends net of withholding taxes but reflects no deduction for fees, expenses or other taxes) is designed to capture large and mid cap securities exhibiting overall value style characteristics across developed market countries, excluding the US and Canada.

MSCI Emerging Markets Index (Net) (reflects reinvested dividends net of withholding taxes but reflects no deduction for fees, expenses or other taxes) is designed to capture large and mid cap securities across emerging market countries.

Russell 2000 Index (reflects no deduction for fees, expenses or taxes) is an index comprised of 2,000 of the smallest US-domiciled company common stocks based on a combination of their market capitalization and current index membership.

Russell 2500 Index (reflects no deduction for fees, expenses or taxes) is designed to measure the performance of the small to mid-cap segment of the US equity universe, commonly referred to as “smid” cap. The Russell 2500 Index is a subset of the Russell 3000 Index and includes approximately 2,500 of the smallest US Companies based on a combination of their market capitalization and current index membership.

Russell Midcap Index (reflects no deduction for fees, expenses or taxes) is designed to measure the performance of the mid-cap segment of the US equity universe. The Russell Midcap Index is a subset of the Russell 1000 Index. It includes approximately 800 of the smallest securities based on a combination of their market cap and current index membership.

Morningstar LSTA US Leveraged Loan Index (formerly, the S&P/LSTA Leveraged Loan Index) (reflects no deduction for fees, expenses or taxes) is a market value-weighted index that is designed to measure the performance of the US leveraged loan market based upon market weightings, spreads and interest payments.

Additional Information Regarding Bloomberg Index(es). “Bloomberg®” and the above referenced Bloomberg index(es) are service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited (“BISL”), the administrator of the index (collectively, “Bloomberg”), and have been licensed for use for certain purposes by Hartford Funds Management Company, LLC ("HFMC"). The Funds are not sponsored, endorsed, sold or promoted by Bloomberg. Bloomberg does not make any representation or warranty, express or implied, to the owners of or counterparties to the Funds or any member of the public regarding the advisability of investing in securities generally or in the Funds particularly. The only relationship of Bloomberg to HFMC is the licensing of certain trademarks, trade names and service marks and of the above referenced Bloomberg index(es), which is determined, composed and calculated by BISL without regard to HFMC or the Funds. Bloomberg has no obligation to take the needs of HFMC or the owners of the Funds into consideration in determining, composing or calculating the above referenced Bloomberg index(es). Bloomberg is not responsible for and has not participated in the determination of the timing of, prices at, or quantities of the Funds to be issued. Bloomberg shall not have any obligation or liability, including, without limitation, to the Funds' customers, in connection with the administration, marketing or trading of the Funds.

Table of Contents

Hartford Schroders Funds

Benchmark Glossary (Unaudited) – (continued)

BLOOMBERG DOES NOT GUARANTEE THE ACCURACY AND/OR THE COMPLETENESS OF THE ABOVE REFERENCED BLOOMBERG INDEX(ES) OR ANY DATA RELATED THERETO AND SHALL HAVE NO LIABILITY FOR ANY ERRORS, OMISSIONS OR INTERRUPTIONS THEREIN. BLOOMBERG DOES NOT MAKE ANY WARRANTY, EXPRESS OR IMPLIED, AS TO RESULTS TO BE OBTAINED BY HFMC, OWNERS OF THE FUNDS OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE ABOVE REFERENCED BLOOMBERG INDEX(ES) OR ANY DATA RELATED THERETO. BLOOMBERG DOES NOT MAKE ANY EXPRESS OR IMPLIED WARRANTIES AND EXPRESSLY DISCLAIMS ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE WITH RESPECT TO THE ABOVE REFERENCED BLOOMBERG INDEX(ES) OR ANY DATA RELATED THERETO. WITHOUT LIMITING ANY OF THE FOREGOING, TO THE MAXIMUM EXTENT ALLOWED BY LAW, BLOOMBERG, ITS LICENSORS, AND ITS AND THEIR RESPECTIVE EMPLOYEES, CONTRACTORS, AGENTS, SUPPLIERS, AND VENDORS SHALL HAVE NO LIABILITY OR RESPONSIBILITY WHATSOEVER FOR ANY INJURY OR DAMAGES --WHETHER DIRECT, INDIRECT, CONSEQUENTIAL, INCIDENTAL, PUNITIVE OR OTHERWISE --ARISING IN CONNECTION WITH THE ABOVE REFERENCED BLOOMBERG INDEX(ES) OR ANY DATA OR VALUES RELATING THERETO --WHETHER ARISING FROM THEIR NEGLIGENCE OR OTHERWISE, EVEN IF NOTIFIED OF THE POSSIBILITY THEREOF.

Additional Information Regarding MSCI Indices. Neither MSCI nor any other party involved in or related to compiling, computing or creating the MSCI data makes any express or implied warranties or representations with respect to such data (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability or fitness for a particular purpose with respect to any of such data. Without limiting any of the foregoing, in no event shall MSCI, any of its affiliates or any third party involved in or related to compiling, computing or creating the data have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages. No further distribution or dissemination of the MSCI data is permitted without MSCI’s express written consent.

Table of Contents

Hartford Schroders Funds

Expense Examples (Unaudited)

Your Fund's Expenses

As a shareholder of a Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments, if any, and contingent deferred sales charges (CDSC), if any, and (2) ongoing costs, including investment management fees, distribution and/or service (12b-1) fees, if any, and other fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in a Fund and to compare these costs with the ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period of May 1, 2022 through October 31, 2022, except as noted below. To the extent a Fund was subject to acquired fund fees and expenses during the period, acquired fund fees and expenses are not included in the annualized expense ratios below.

Actual Expenses

The first set of columns of the table below provides information about actual account values and actual expenses. You may use this information, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the line under the heading entitled “Expenses Paid During The Period” to estimate the expenses you paid on your account during this period.

Hypothetical Example for Comparison Purposes

The second set of columns of the table below provides information about hypothetical account values and hypothetical expenses based on a Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Fund’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in a Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads and CDSC). Therefore, the second set of columns of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would be higher. Expenses for a class of a Fund are equal to the class' annualized expense ratio multiplied by average account value over the period, multiplied by 184/365 (to reflect the one-half year period).

	Actual Return			Hypothetical (5% return before expenses)
	Beginning Account Value May 1, 2022	Ending Account Value October 31, 2022	Expenses paid during the period May 1, 2022 through October 31, 2022	Beginning Account Value May 1, 2022	Ending Account Value October 31, 2022	Expenses paid during the period May 1, 2022 through October 31, 2022	Annualized expense ratio
Hartford Schroders China A Fund
Class A	$ 1,000.00	$ 856.40	$ 6.78	$ 1,000.00	$ 1,017.90	$ 7.38	1.45%
Class C	$ 1,000.00	$ 856.30	$ 6.78	$ 1,000.00	$ 1,017.95	$ 7.38	1.45%
Class I	$ 1,000.00	$ 857.50	$ 5.39	$ 1,000.00	$ 1,019.41	$ 5.85	1.15%
Class Y⁽¹⁾	$ 1,000.00	$ 857.70	$ 5.25	$ 1,000.00	$ 1,019.56	$ 5.70	1.12%
Class F	$ 1,000.00	$ 857.90	$ 4.64	$ 1,000.00	$ 1,020.21	$ 5.04	0.99%
Class SDR	$ 1,000.00	$ 857.90	$ 4.64	$ 1,000.00	$ 1,020.21	$ 5.04	0.99%
Hartford Schroders Diversified Emerging Markets Fund
Class A	$ 1,000.00	$ 794.20	$ 3.66	$ 1,000.00	$ 1,020.87	$ 4.13	0.81%
Class C	$ 1,000.00	$ 790.50	$ 7.35	$ 1,000.00	$ 1,017.19	$ 8.29	1.63%
Class I	$ 1,000.00	$ 795.60	$ 2.31	$ 1,000.00	$ 1,022.58	$ 2.60	0.51%
Class Y	$ 1,000.00	$ 795.60	$ 2.13	$ 1,000.00	$ 1,022.89	$ 2.40	0.47%
Class F	$ 1,000.00	$ 793.30	$ 4.02	$ 1,000.00	$ 1,020.92	$ 4.53	0.89%
Class SDR	$ 1,000.00	$ 793.30	$ 4.02	$ 1,000.00	$ 1,020.72	$ 4.53	0.89%
Hartford Schroders Emerging Markets Equity Fund
Class A	$ 1,000.00	$ 813.80	$ 7.22	$ 1,000.00	$ 1,017.24	$ 8.03	1.58%
Class C	$ 1,000.00	$ 811.00	$ 9.87	$ 1,000.00	$ 1,014.32	$ 10.97	2.16%
Class I	$ 1,000.00	$ 814.80	$ 5.76	$ 1,000.00	$ 1,018.85	$ 6.41	1.26%
Class R3	$ 1,000.00	$ 813.30	$ 7.82	$ 1,000.00	$ 1,016.59	$ 8.69	1.71%
Class R4	$ 1,000.00	$ 813.70	$ 6.77	$ 1,000.00	$ 1,017.74	$ 7.53	1.48%
Class R5	$ 1,000.00	$ 814.80	$ 5.49	$ 1,000.00	$ 1,019.21	$ 6.11	1.20%
Class Y	$ 1,000.00	$ 815.30	$ 5.49	$ 1,000.00	$ 1,019.16	$ 6.11	1.20%
Class F	$ 1,000.00	$ 815.40	$ 4.94	$ 1,000.00	$ 1,019.76	$ 5.50	1.08%
Class SDR	$ 1,000.00	$ 815.80	$ 4.90	$ 1,000.00	$ 1,019.81	$ 5.45	1.07%

Table of Contents

Hartford Schroders Funds

Expense Examples (Unaudited) – (continued)

	Actual Return			Hypothetical (5% return before expenses)
	Beginning Account Value May 1, 2022	Ending Account Value October 31, 2022	Expenses paid during the period May 1, 2022 through October 31, 2022	Beginning Account Value May 1, 2022	Ending Account Value October 31, 2022	Expenses paid during the period May 1, 2022 through October 31, 2022	Annualized expense ratio
Hartford Schroders Emerging Markets Multi-Sector Bond Fund
Class A	$ 1,000.00	$ 926.10	$ 5.58	$ 1,000.00	$ 1,019.41	$ 5.85	1.15%
Class C	$ 1,000.00	$ 922.30	$ 9.20	$ 1,000.00	$ 1,015.68	$ 9.65	1.90%
Class I	$ 1,000.00	$ 927.10	$ 4.37	$ 1,000.00	$ 1,020.67	$ 4.58	0.90%
Class R3	$ 1,000.00	$ 924.80	$ 7.03	$ 1,000.00	$ 1,017.90	$ 7.38	1.45%
Class R4	$ 1,000.00	$ 926.10	$ 5.58	$ 1,000.00	$ 1,019.21	$ 5.85	1.15%
Class R5	$ 1,000.00	$ 927.40	$ 4.13	$ 1,000.00	$ 1,020.87	$ 4.33	0.85%
Class Y	$ 1,000.00	$ 927.40	$ 4.13	$ 1,000.00	$ 1,020.92	$ 4.33	0.85%
Class F	$ 1,000.00	$ 927.60	$ 3.55	$ 1,000.00	$ 1,021.68	$ 3.72	0.73%
Class SDR	$ 1,000.00	$ 927.80	$ 3.64	$ 1,000.00	$ 1,021.42	$ 3.82	0.75%
Hartford Schroders International Contrarian Value Fund⁽²⁾
Class I	$ 1,000.00	$ 875.00	$ 2.88⁽³⁾	$ 1,000.00	$ 1,021.68	$ 3.57⁽⁴⁾	0.70%
Class SDR	$ 1,000.00	$ 875.00	$ 2.88⁽³⁾	$ 1,000.00	$ 1,021.68	$ 3.57⁽⁴⁾	0.70%
Hartford Schroders International Multi-Cap Value Fund
Class A	$ 1,000.00	$ 853.80	$ 5.28	$ 1,000.00	$ 1,019.51	$ 5.75	1.13%
Class C	$ 1,000.00	$ 850.20	$ 8.63	$ 1,000.00	$ 1,015.88	$ 9.40	1.85%
Class I	$ 1,000.00	$ 855.10	$ 3.98	$ 1,000.00	$ 1,020.92	$ 4.33	0.85%
Class R3	$ 1,000.00	$ 853.00	$ 6.54	$ 1,000.00	$ 1,018.15	$ 7.12	1.40%
Class R4	$ 1,000.00	$ 853.40	$ 5.42	$ 1,000.00	$ 1,019.36	$ 5.90	1.16%
Class R5	$ 1,000.00	$ 854.90	$ 3.93	$ 1,000.00	$ 1,020.97	$ 4.28	0.84%
Class Y	$ 1,000.00	$ 855.00	$ 3.88	$ 1,000.00	$ 1,021.02	$ 4.23	0.83%
Class F	$ 1,000.00	$ 855.60	$ 3.46	$ 1,000.00	$ 1,021.48	$ 3.77	0.74%
Class SDR	$ 1,000.00	$ 855.40	$ 3.46	$ 1,000.00	$ 1,021.48	$ 3.77	0.74%
Hartford Schroders International Stock Fund
Class A	$ 1,000.00	$ 863.50	$ 5.12	$ 1,000.00	$ 1,019.71	$ 5.55	1.09%
Class C	$ 1,000.00	$ 861.00	$ 8.59	$ 1,000.00	$ 1,015.98	$ 9.30	1.83%
Class I	$ 1,000.00	$ 864.70	$ 3.85	$ 1,000.00	$ 1,021.07	$ 4.18	0.82%