02.02.2010 15:00:00
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Industry Veteran Joseph Darcy Joins Hartford Investment Management Company To Lead Municipal Team
Hartford Investment Management Company continues to strengthen its investment management capabilities with the hiring of Joseph Darcy as executive vice president and sector head of municipal finance. Darcy joined the firm January 25, 2010. In this role, Darcy has been added as a portfolio manager of The Hartford High Yield Municipal Bond Fund1 and The Hartford Tax-Free National Fund2 alongside Christopher Bade.
"With 30 years of investment management experience and an extensive focus in tax-exempt investing and trading, Joe is an important addition to the team,” said Greg McGreevey, president of Hartford Investment Management. "He is an experienced and disciplined investor who places a premium on shareholder interests. This focus has led to consistent, long-term superior performance through some of the most challenging environments we’ve seen.”
"I am very proud to join Hartford Investment Management and I look forward to working with my teammates in Municipal research and portfolio management,” said Darcy.
Darcy comes to Hartford Investment Management after 16 years with BNY Mellon Asset Management where his responsibilities included portfolio management of $5.5 billion in open-end national- and state-specific mutual fund assets, as well as an oversight role on one of the firm’s research and trading platforms. Prior to BNY Mellon Asset Management, Darcy served as vice president and portfolio manager of tax-exempt asset management at Merrill Lynch. He has also held positions with Chemical Bank and Prudential Securities in institutional sales, marketing, and municipal trading.
Darcy holds a bachelor’s degree, Magna cum Laude, from State University of New York at Buffalo.
About Hartford Investment Management
Hartford Investment Management Company, a subsidiary of The Hartford Financial Services Group, Inc. (NYSE: HIG), is a registered investment advisor providing investment management services to both institutions and individuals, including affiliated and non-affiliated corporations, foundations and endowments, mutual funds and employee benefit plans.
About The Hartford
Celebrating nearly 200 years, The Hartford (NYSE: HIG) is an insurance-based financial services company that serves households, businesses and employees by helping to protect their assets and income from risks, and by managing wealth and retirement needs. A Fortune 500 company, The Hartford is recognized widely for its service expertise and as one of the world’s most ethical companies. More information on the company and its financial performance is available at www.thehartford.com.
HIG-L
Some of the statements in this release may be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. We caution investors that these forward-looking statements are not guarantees of future performance, and actual results may differ materially. Investors should consider the important risks and uncertainties that may cause actual results to differ. These important risks and uncertainties include those discussed in our Quarterly Reports on Form 10-Q, our 2008 Annual Report on Form 10-K and the other filings we make with the Securities and Exchange Commission. We assume no obligation to update this release, which speaks as of the date issued.
You should carefully consider investment objectives, risks, and charges and expenses of The Hartford Mutual Funds before investing. This and other information can be found in the Fund's prospectus, which can be obtained from your investment representative or by calling 888-843-7824. Please read it carefully before you invest or send money.
1 A significant percentage of the Fund’s assets may be below investment grade securities ("high-yield securities" or "junk bonds"), which are rated lower because there is a greater possibility that the issuer may be unable to make its interest and principal payments.
This Fund is subject to liquidity risk because its investments may trade less frequently or are not readily marketable; this may adversely affect the Fund's value or prevent the Fund from being able to meet cash obligation or take other investment opportunities.
This Fund is a non-diversified fund that invests in the securities of fewer issuers, which may subject the Fund to greater market fluctuations and price volatility than a diversified fund.
The Fund is subject to credit risk (the risk that the issuing company may not be able to pay interest and principal when due), interest rate risk (the risk that your investment may go down in value when interest rates rise), and risk of loss (the risk that you could lose money on your investment).
The Fund may invest in securities that produce income subject to tax including the Alternative Minimum Tax.
2 The Fund is subject to credit risk (the risk that the issuing company may not be able to pay interest and principal when due), interest rate risk (the risk that your investment may go down in value when interest rates rise), and risk of loss (the risk that you could lose money on your investment).
A portion of this Fund’s assets may be below investment grade securities ("high-yield securities" or "junk bonds"), which are rated lower because there is a greater possibility that the issuer may be unable to make interest and principal payments on those securities.
This Fund is subject to liquidity risk because its investments may trade less frequently or are not readily marketable; this may adversely affect the Fund's value or prevent the Fund from being able to meet cash obligation or take other investment opportunities.
The Fund may invest in securities that produce income subject to tax including the Alternative Minimum Tax.
The Hartford Mutual Funds are underwritten and distributed by Hartford Investment Financial Services, LLC.
"The Hartford" is The Hartford Financial Services Group, Inc. and its subsidiaries.
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