HARTFORD FINANCIAL SERVICES GROUP INC

For the period ended Sep 30, 2024. Filed Oct 24, 2024.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2024 · Filed Oct 24, 2024

HIG$134.86+0.6%Stored close · as of Nov 9, 2026

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Contents

Hartford Funds

|HARTFORD FUNDS - RESULTS OF OPERATIONS

Operating Summary

	Three Months Ended September 30,			Nine Months Ended September 30,
	2024	2023	Change	2024	2023	Change
Fee income and other revenue	$263	$248	6%	$766	$733	5%
Net investment income	5	4	25%	14	11	27%
Net realized gains (losses)	7	(4)	NM	15	2	NM
Total revenues	275	248	11%	795	746	7%
Operating costs and other expenses	208	195	7%	614	585	5%
Income before income taxes	67	53	26%	181	161	12%
Income tax expense [1]	13	12	8%	38	34	12%
Net income	$54	$41	32%	$143	$127	13%
Daily average Hartford Funds AUM	$137,888	$128,786	7%	$134,546	$127,810	5%
ROA [2]	15.7	12.7	24%	14.2	13.2	8%
Adjustment to reconcile ROA to ROA, core earnings:
Effect of net realized gains (losses) excluded from core earnings, before tax	(2.1)	1.3	NM	(1.5)	(0.2)	NM
Effect of income tax expense	—	—	—%	0.3	0.1	NM
ROA, core earnings [2]	13.6	14.0	(3%)	13.0	13.1	(1)%

[1]For discussion of income taxes, see Note 12 - Income Taxes of Notes to Condensed Consolidated Financial Statements.

[2]Represents annualized earnings divided by a daily average of AUM, as measured in basis points.

Table of Contents	Index to MD&A

Hartford Funds Segment AUM

	Three Months Ended September 30,			Nine Months Ended September 30,
	2024	2023	Change	2024	2023	Change
Mutual Fund and ETF AUM - beginning of period	$123,686	$118,107	5%	$119,316	$112,472	6%
Sales - Mutual Fund	5,669	4,610	23%	16,959	15,914	7%
Redemptions - Mutual Fund	(6,350)	(6,461)	2%	(21,130)	(20,477)	(3)%
Net flows - ETF	256	222	15%	150	499	(70)%
Net flows - Mutual Fund and ETF	(425)	(1,629)	74%	(4,021)	(4,064)	1%
Change in market value and other	7,105	(4,296)	NM	15,071	3,774	NM
Mutual Fund and ETF AUM - end of period	130,366	112,182	16%	130,366	112,182	16%
Third-party life and annuity separate account AUM	12,073	11,011	10%	12,073	11,011	10%
Hartford Funds AUM - end of period	$142,439	$123,193	16%	$142,439	$123,193	16%

Mutual Fund and ETF AUM by Asset Class

	As of September 30,
	2024	2023	Change
Equity - Mutual Funds	$87,271	$74,306	17%
Fixed Income - Mutual Funds	19,347	15,941	21%
Multi-Strategy Investments - Mutual Funds [1]	19,425	18,573	5%
Equity - ETF	1,847	1,900	(3)%
Fixed Income - ETF	2,476	1,462	69%
Mutual Fund and ETF AUM	$130,366	$112,182	16%

[1]Includes balanced, allocation and alternative investment products.

Net income increased for the three months ended September 30, 2024, primarily due to a change from net realized losses to net realized gains and an increase in fee income net of operating costs and other expenses driven by higher daily average AUM. Net income increased for the nine months ended September 30, 2024, primarily due to an increase in net realized gains, an increase in fee income net of operating costs and other expenses driven by higher daily average AUM, and higher net investment income.

Hartford Funds AUM

September 30, 2024 compared to September 30, 2023

Hartford Funds AUM increased primarily due to an increase in market values, partly offset by net outflows over the previous twelve months. Net outflows were $0.4 billion and $4.0 billion, respectively, for the three and nine months ended September 30, 2024 compared to net outflows of $1.6 billion and $4.1 billion, respectively, for the three and nine months ended September 30, 2023.

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.