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Hartford Funds launches Municipal Bond ETF

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Hartford Funds has launched its fourth actively managed fixed income and 11th overall exchange-traded fund (ETF), Hartford Municipal Opportunities ETF (HMOP).

Sub-advised by Wellington Management Company (Wellington Management), HMOP is designed to provide financial advisors and their clients with an investing strategy that seeks tax-exempt income by investing in opportunities in investment grade and high-yield municipal bonds.
 
“Investors are very tax-aware and, as interest rates go up, advisors are seeking fixed income strategies with the potential for greater after-tax returns and income,” says Vernon Meyer, Chief Investment Officer of Hartford Funds. “HMOP offers a diversified option for this challenge in a more tax-efficient ETF, while tapping into Wellington’s deep knowledge of managing municipal funds backed by credit research expertise.”
 
HMOP offers an actively managed municipal bond strategy that invests in investment grade and non-investment grade municipal securities across states, sectors, and different parts of the yield curve. The strategy seeks to deliver current income generally exempt from federal income taxes and long-term total return. HMOP has an expense ratio of 0.35 per cent.

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