Hartford Multi-Asset Income Fund (ITTAX) N-CSRS Certified semi-annual shareholder report (management investment company)

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT
INVESTMENT COMPANIES

Investment Company Act file number: 811-07589

THE HARTFORD MUTUAL FUNDS, INC.

(Exact name of registrant as specified in charter)

P. O. Box 2999, Hartford, Connecticut 06104-2999
(Address of Principal Executive Offices)

Edward P. Macdonald, Esquire
Life Law Unit
The Hartford Financial Services Group, Inc.
200 Hopmeadow Street
Simsbury, Connecticut 06089
(Name and Address of Agent for Service)

Registrant’s telephone number, including area code: (860) 843-9934

Date of fiscal year end: October 31^st

Date of reporting period: November 1, 2008 – April 30, 2009

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, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

TABLE OF CONTENTS

	Item 1. Reports to Stockholders
	Item 2. Code of Ethics
	Item 3. Audit Committee Financial Expert
	Item 4. Principal Accountant Fees and Services
	Item 5. Audit Committee of Listed Registrants
	Item 6. Schedule of Investments
	Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies
	Item 8. Portfolio Managers of Closed-End Management Investment Companies
	Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers
	Item 10. Submission of Matters to a Vote of Security Holders
	Item 11. Controls and Procedures
	Item 12. Exhibits
SIGNATURES
EXHIBIT LIST
Certifications
Section 906 Certifictaions

Item 1. Reports to Stockholders.

The Hartford Advisers Fund

Table of Contents

Manager Discussions (Unaudited)	2
Financial Statements
Schedule of Investments at April 30, 2009 (Unaudited)	5
Statement of Assets and Liabilities at April 30, 2009 (Unaudited)	10
Statement of Operations for the Six Month Period Ended April 30, 2009 (Unaudited)	11
Statement of Changes in Net Assets for the Six Month Period Ended April 30, 2009 (Unaudited) and the Year Ended October 31, 2008	12
Notes to Financial Statements (Unaudited)	13
Financial Highlights (Unaudited)	24
Directors and Officers (Unaudited)	25
How to Obtain a Copy of the Fund’s Proxy Voting Policies and Proxy Voting Records (Unaudited)	27
Quarterly Portfolio Holdings Information (Unaudited)	27
Expense Example (Unaudited)	28

The Hartford Advisers Fund
(subadvised by Wellington Management Company, LLP)

Performance Overview(1) 4/30/99 - 4/30/09
Growth of a $10,000 investment in Class A which includes Sales Charge

Barclays Capital Government/Credit Bond Index is an unmanaged, market value-weighted index of all debt obligations of the U.S. Treasury and U.S. Government agencies (excluding mortgage-backed securities) and of all publicly issued fixed-rate, nonconvertible, investment grade domestic corporate debt.

S&P 500 Index is a market capitalization weighted price index composed of 500 widely held common stocks.

You cannot invest directly in an index.

The value of shares will fluctuate so that, when redeemed, shares may be worth more or less than their original cost. The chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.

Investment objective — Seeks maximum long-term total return.

Average Annual Total Returns(2,3,4) (as of 4/30/09)

	Inception		1			5			10			Since
	Date		Year			Year			Year			Inception
Advisers A#		7/22/96		-26.89	%		-1.61	%		-0.62	%		4.04	%
Advisers A##		7/22/96		-30.91	%		-2.71	%		-1.18	%		3.58	%
Advisers B#		7/22/96		-27.52	%		-2.38	%	NA		*	NA		*
Advisers B##		7/22/96		-31.07	%		-2.71	%	NA		*	NA		*
Advisers C#		7/22/96		-27.48	%		-2.30	%		-1.30	%		3.33	%
Advisers C##		7/22/96		-28.19	%		-2.30	%		-1.30	%		3.33	%
Advisers R3#		7/22/96		-27.07	%		-1.54	%		-0.32	%		4.39	%
Advisers R4#		7/22/96		-26.93	%		-1.41	%		-0.25	%		4.44	%
Advisers R5#		7/22/96		-26.62	%		-1.25	%		-0.17	%		4.50	%
Advisers Y#		7/22/96		-26.57	%		-1.21	%		-0.15	%		4.52	%

#	Without sales charge
##	With sales charge
NA	Not Applicable
*	10 year and inception returns are not applicable for Class B because after 8 years Class B converts to Class A.

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)	Growth of a $10,000 investment in Classes B, C, R3, R4, R5 and Y shares will vary from results seen above due to differences in the expenses charged to these share classes.
(2)	Class C shares commenced operations on 7/31/98. Performance prior to 7/31/98 reflects Class B performance less Class C sales charges where applicable. Class R3, R4 and R5 shares commenced operations on 12/22/06. Performance prior to 12/22/06 reflects Class Y performance.
(3)	The initial investment in Class A shares reflects the maximum sales charge and Classes B and C reflect CDSC.
(4)	Total returns presented above were calculated using the Fund’s net asset value available to shareholders for sale or redemption of Fund shares on April 30, 2009, which excludes investment transactions as of this date.

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

Portfolio Managers
Steven T. Irons, CFA	John C. Keogh	Peter I. Higgins, CFA	Christopher L. Gootkind, CFA
Senior Vice President, Partner	Senior Vice President, Partner	Senior Vice President	Vice President

How did the Fund perform?

The Class A shares of The Hartford Advisers Fund returned 1.72%, before sales charge, for the six-month period ended April 30, 2009, versus the returns of -8.53% for the S&P 500 Index, 7.96% for the Barclays Capital Government/Credit Bond Index and -1.70% for the average fund in the Lipper Mixed- Asset Target Allocation Growth Funds peer group, a group of funds that hold between 60%-80% in equity securities, with the remainder invested in bonds, cash, and cash equivalents.

Why did the Fund perform this way?

The six-month period ended April 30, 2009 was one of the most volatile in capital markets history, reflecting investors’ fluctuating reactions to economic data releases and the U.S. government’s involvement to help mitigate the financial crisis. The broad U.S. equity market registered its sixth straight quarterly decline in the first quarter of 2009 as measured by the S&P 500 Index, but ended the period with a sharp rebound from mid-March lows. During the period, the U.S. Federal Reserve cut rates from 1.0% to a target rate between 0%-0.25% and announced that low rates were likely to persist for an extended period of time. In continued efforts to

2

stabilize the economy and lower mortgage rates, the government introduced numerous stimulus and liquidity programs. In addition, the Federal Reserve established a new program to purchase $300 billion of longer-term Treasury securities. Treasury yields moved lower during the six month period and the yield curve flattened (i.e. short and long term interest rates moving closer together) modestly. Buoyed by the government’s actions and growing demand for fixed income assets, non-Treasury sectors, with the exception of commercial mortgage backed securities (CMBS), outperformed Treasuries during the period.

Equity markets, as measured by the S&P 500, returned (-9%) during the period, as seven of ten sectors within the index posted declines. Financials (-29%), Industrials (-13%), and Energy (-10%) fell the most, while Information Technology (6%), Consumer Discretionary (4%), and Telecommunication Services (3%) were the only sectors to post positive returns. The bond market, as measured by the Barclays Government/Credit Index, returned 8% during the period.

The Fund has three primary levers to generate investment performance: equity investments, fixed income investments, and asset allocation among stocks, bonds, and cash. During the period, the equity portion of the Fund outperformed its benchmark, while the fixed income portion lagged its benchmark. Asset Allocation detracted from the Fund’s performance as the Fund’s overweight (i.e. the Fund’s sector position was greater than the benchmark position) to equities and underweight (i.e. the Fund’s sector position was less than the benchmark position) to fixed income hurt relative (i.e. performance of the Fund as measured against the benchmark) returns.

The equity portion of the Fund’s outperformance versus the benchmark was driven by security selection, which was strongest in Health Care, Financials, and Energy. Sector positioning, which is a result of bottom-up (i.e. stock by stock fundamental research) security selection, was essentially neutral as overweight allocations to Information Technology, Health Care, and Consumer Discretionary sectors were offset by the Fund’s overweight exposure to Financials and underweight to Telecommunication Services.

Top contributors to absolute (i.e. total return) and benchmark relative performance in the equity portion of the Fund during the period included Goldman Sachs (Financials), Schering-Plough (Health Care), and Wyeth (Health Care). Shares of Goldman Sachs, a leading investment bank, benefited from the firm’s relatively healthy balance sheet and news that the company was exploring ways to pay back its government Troubled Assets Relief Program (TARP) loans sooner than expected. The Fund’s holding in Schering-Plough helped performance on an absolute and relative basis, as the company’s share price jumped after receiving a takeover offer by Merck. Shares of U.S.-based pharmaceutical company Wyeth moved sharply higher after Pfizer agreed to purchase the company at a significant premium.

Stocks that detracted the most from relative returns during the period were Bank of America (Financials), Delta Air Lines (Industrials), and General Electric (Industrials). Shares of diversified banking company Bank of America fell significantly on weakness in their consumer-oriented loan portfolio and due to difficulties surrounding their acquisition of Merrill Lynch. Delta Airlines’ shares fell during the period on the back of soft revenue metrics and a general contraction in demand across the travel industry, which investors feared would overshadow the benefits of industry-wide capacity reductions. General Electric, a U.S. industrial conglomerate, saw its shares fall after the company cut its dividend and investors grew increasingly concerned about the company’s finance unit. Significant detractors from absolute returns also included Wells Fargo (Financials).

The fixed income portion of the Fund underperformed its benchmark primarily due to its overweight allocation to commercial mortgage-backed securities (CMBS), exposure to non-agency mortgage-backed securities (MBS), and security selection within its allocation to corporate bonds, in particular holdings of debt issued by insurance companies. CMBS prices tumbled in the first half of the period as the weakening economic outlook for commercial real estate intensified. We exited the Fund’s CMBS holdings in the first quarter. In late 2008, there was a shift in focus for the TARP away from the purchase of illiquid mortgage assets. This, combined with continued declines in the housing market, led to significant underperformance for the nonagency MBS sector. We sold the Fund’s non-agency MBS positions on improved liquidity in January. Within the corporate bond sector, the Fund’s overweight to debt issued by insurance companies detracted from relative performance. Insurance companies have been negatively impacted by the elevated volatility in equity markets, extreme widening of credit spreads (i.e. short and long term interest rates moving farther apart) in 2008, and increase in asset impairment-related writedowns. Market illiquidity diminished our ability to transact in our corporate bond holdings. Adding to relative results were the Fund’s allocations to agency MBS and asset-backed securities (ABS), and an overweight to the corporate bond sector. Agency MBS posted positive excess returns as the initiation and expansion of the Federal Reserve’s purchase program led to material spread tightening (i.e. short and long term interest rates moving closer together). The Fund’s ABS holdings backed by auto loans and credit card receivables were also additive as Term Asset-Backed Securities Loan Facility (TALF)-related demand increased for these assets. Lastly, the Fund’s overweight to the corporate bond sector was a positive contributor as demand for corporate bonds surged in 2009. The sector posted record positive excess returns versus Treasuries in both January and April.

3

What is the outlook?

We continue to believe that government actions will further reduce systemic risk and help to stabilize markets. In recent weeks, signs of a turn in the economy have emerged, and we believe that the risks of a severe and prolonged global recession are diminishing.

The equity portion of the Fund is managed with a large cap, core approach. We apply a bottom-up investment process in constructing a diversified portfolio. We look for companies that exhibit the following qualities: industry leadership, strong balance sheets, solid management, high return on equity, accelerating earnings, and/or attractive valuation with a catalyst. At the end of the period, our bottom-up investment approach resulted in overweight exposures in Financials, Information Technology, and Industrials, as we found a number of attractive investment opportunities in these sectors. The Fund’s largest underweights relative to the S&P 500 were in Utilities, Telecommunication Services, and Health Care.

The fixed income portion of the Fund is currently positioned with a neutral duration (i.e. sensitivity to changes in interest rates) posture. We believe that U.S. economic indicators are beginning to bottom, but that the Federal Reserve is likely to keep the policy rate low. We believe that default levels implied by pricing in the corporate bond market are too high and that valuations are attractive. The Fund is positioned with an overweight to the corporate bond sector. Government initiatives continue to be focused on the mortgage sector, and the Fund maintains an allocation to agency MBS pass-throughs. Lastly, we continue to favor an allocation to the ABS sector, specifically auto and credit card deals. We believe that consumer ABS will continue to be supported by the TALF.

The equity and fixed income managers will continue to work collaboratively to make decisions regarding portfolio weights in stocks, bonds, and cash. As of April 30, 2009, the Fund’s equity exposure was at 67.4%, at the upper end of the 50-70% range.

Diversification by Industry
as of April 30, 2009

	Percentage of
Industry	Net Assets
Banks		2.5	%
Capital Goods		5.6
Commercial & Professional Services		0.3
Consumer Cyclical		0.4
Consumer Staples		0.8
Diversified Financials		7.2
Energy		9.6
Finance		9.3
Food & Staples Retailing		3.7
Food, Beverage & Tobacco		2.5
General Obligations		0.3
Health Care		0.5
Health Care Equipment & Services		2.5
Household & Personal Products		0.7
Insurance		0.4
Materials		1.1
Media		3.0
Pharmaceuticals, Biotechnology & Life Sciences		5.5
Real Estate		0.5
Retailing		4.0
Semiconductors & Semiconductor Equipment		3.1
Services		0.3
Software & Services		4.3
Technology		0.8
Technology Hardware & Equipment		6.7
Telecommunication Services		1.1
Transportation		3.0
U.S. Government Agencies		3.0
U.S. Government Securities		11.3
Utilities		2.1
Short-Term Investments		1.9
Other Assets and Liabilities		2.0
Total		100.0	%

Distribution by Security Type
as of April 30, 2009

	Percentage of
Category	Net Assets
Asset & Commercial Mortgage Backed Securities		1.8	%
Common Stocks		67.4
Corporate Bonds: Investment Grade		12.3
Municipal Bonds		0.3
U.S. Government Agencies		3.0
U.S. Government Securities		11.3
Warrant		0.0
Short-Term Investments		1.9
Other Assets and Liabilities		2.0
Total		100.0	%

4

The Hartford Advisers Fund

Schedule of Investments

April 30, 2009 (Unaudited)

(000’s Omitted)

Shares or Principal Amount			Market Value ╪
COMMON STOCKS - 67.4%
		Banks - 2.5%
	65	PNC Financial Services Group, Inc.	$	2,590
	114	Standard Chartered plc		1,763
	823	Washington Mutual, Inc. Private Placement ⌂ †		81
	660	Wells Fargo & Co.		13,211
				17,645
		Capital Goods - 5.5%
	98	Cummins, Inc.		3,332
	41	Danaher Corp.		2,373
	115	Deere & Co.		4,724
	18	First Solar, Inc. •		3,409
	671	General Electric Co.		8,488
	129	Honeywell International, Inc.		4,017
	147	Illinois Tool Works, Inc.		4,805
	52	Lockheed Martin Corp.		4,075
	61	Siemens AG ADR		4,056
				39,279
		Commercial & Professional Services - 0.3%
	179	Monster Worldwide, Inc. •		2,474
		Diversified Financials - 7.2%
	121	Ameriprise Financial, Inc.		3,178
	687	Bank of America Corp.		6,139
	519	Discover Financial Services, Inc.		4,222
	95	Goldman Sachs Group, Inc.		12,156
	259	Invesco Ltd.		3,816
	436	JP Morgan Chase & Co.		14,375
	563	UBS AG ADR •		7,675
				51,561
		Energy - 9.3%
	116	Cameco Corp.		2,639
	32	Canadian Natural Resources Ltd. ADR		1,480
	26	Chevron Corp.		1,705
	101	EOG Resources, Inc.		6,424
	247	Exxon Mobil Corp.		16,441
	137	Hess Corp.		7,523
	103	Marathon Oil Corp.		3,053
	253	OAO Gazprom Class S ADR		4,531
	72	Occidental Petroleum Corp.		4,042
	62	Petro-Canada		1,964
	140	Petroleo Brasileiro S.A. ADR		4,683
	138	Schlumberger Ltd.		6,761
	121	Suncor Energy, Inc. ADR		3,063
	81	XTO Energy, Inc.		2,794
				67,103
		Food & Staples Retailing - 3.7%
	76	Costco Wholesale Corp.		3,669
	104	Kroger Co.		2,248
	205	Safeway, Inc.		4,039
	250	Supervalu, Inc.		4,081
	178	Walgreen Co.		5,595
	134	Wal-Mart Stores, Inc.		6,729
				26,361
		Food, Beverage & Tobacco - 2.5%
	74	General Mills, Inc.		3,741
	238	PepsiCo, Inc.		11,843
	116	Unilever N.V. NY Shares ADR		2,304
				17,888
		Health Care Equipment & Services - 2.5%
	21	Intuitive Surgical, Inc.•		2,946
	165	Medtronic, Inc.		5,280
	199	UnitedHealth Group, Inc.		4,683
	76	Varian Medical Systems, Inc. •		2,543
	56	Zimmer Holdings, Inc. •		2,459
				17,911
		Household & Personal Products - 0.7%
	101	Procter & Gamble Co.		4,998
		Insurance - 0.4%
	64	ACE Ltd.		2,958
		Materials - 1.1%
	169	Cliff’s Natural Resources, Inc.		3,897
	52	Potash Corp. of Saskatchewan, Inc.		4,463
				8,360
		Media - 3.0%
	794	Comcast Corp. Class A		12,269
	200	Time Warner, Inc.		4,363
	267	Viacom, Inc. Class B •		5,129
				21,761
		Pharmaceuticals, Biotechnology & Life Sciences - 5.5%
	191	Daiichi Sankyo Co., Ltd.		3,189
	578	Elan Corp. plc ADR •		3,418
	105	Eli Lilly & Co.		3,447
	141	Merck & Co., Inc.		3,425
	535	Pfizer, Inc.		7,148
	136	Schering-Plough Corp.		3,128
	285	Shionogi & Co., Ltd.		4,898
	71	UCB S.A.		1,920
	112	Vertex Pharmaceuticals, Inc. •		3,458
	119	Wyeth		5,033
				39,064
		Real Estate - 0.5%
	64	Kimco Realty Corp.		767
	53	Simon Property Group, Inc.		2,740
				3,507
		Retailing - 4.0%
	73	Best Buy Co., Inc.		2,798
	2,225	Buck Holdings L.P.⌂ • †		3,958
	92	Kohl’s Corp. •		4,163
	387	Lowe’s Co., Inc.		8,314
	129	Nordstrom, Inc.		2,915
	333	Staples, Inc.		6,856
				29,004
		Semiconductors & Semiconductor Equipment - 3.1%
	306	Applied Materials, Inc.		3,741
	108	Intel Corp.		1,708
	117	Lam Research Corp.•		3,259
	509	Maxim Integrated Products, Inc.		6,893
	355	Texas Instruments, Inc.		6,413
				22,014
		Software & Services - 4.3%
	137	Accenture Ltd. Class A		4,041
	15	Google, Inc. •		5,781
	652	Microsoft Corp.		13,217
	116	Oracle Corp. •		2,238
	311	Western Union Co.		5,206
				30,483
		Technology Hardware & Equipment - 6.7%

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

5

The Hartford Advisers Fund

Schedule of Investments — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

Shares or Principal Amount			Market Value ╪
COMMON STOCKS - 67.4% — (continued)
		Technology Hardware & Equipment - 6.7% — (continued)
	70	Apple, Inc.•	$	8,859
	839	Cisco Systems, Inc.•		16,213
	170	Corning, Inc.		2,480
	585	Flextronics International Ltd. •		2,271
	135	Hewlett-Packard Co.		4,868
	246	NetApp, Inc.•		4,507
	217	Qualcomm, Inc.		9,192
				48,390
		Telecommunication Services - 1.1%
	89	AT&T, Inc.		2,290
	314	MetroPCS Communications, Inc.•		5,366
				7,656
		Transportation - 2.6%
	851	Delta Air Lines, Inc.•		5,249
	95	FedEx Corp.		5,294
	161	United Parcel Service, Inc. Class B		8,421
				18,964
		Utilities - 0.9%
	136	Exelon Corp.		6,251
		Total common stocks (cost $607,722)	$	483,632
WARRANTS - 0.0%
		Banks 0.0%
	103	Washington Mutual, Inc. Private Placement ⌂ •†	$	—
		Total warrants (cost $—)	$	—
ASSET & COMMERCIAL MORTGAGE BACKED SECURITIES - 1.8%
		Finance - 1.8%
		Advanta Business Card Master Trust
$	5,000	5.30%, 05/21/2012	$	4,945
		Citibank Credit Card Issuance Trust
	2,985	5.65%, 09/20/2019		2,808
		Marriott Vacation Club Owner Trust
	243	5.36%, 10/20/2028 §		199
		Nissan Automotive Lease Trust
	5,000	5.10%, 07/16/2012		4,990
				12,942
		Total asset & commercial mortgage backed securities (cost $13,219)	$	12,942
CORPORATE BONDS: INVESTMENT GRADE - 12.3%
		Capital Goods - 0.1%
		Xerox Corp.
$	1,000	5.50%, 05/15/2012	$	950
		Consumer Cyclical - 0.4%
		DaimlerChrysler NA Holdings Corp.
	1,975	6.50%, 11/15/2013		1,919
		Federated Retail Holdings, Inc.
	714	5.90%, 12/01/2016		592
		Staples, Inc.
	460	9.75%, 01/15/2014		505
				3,016
		Consumer Staples - 0.8%
		PepsiAmericas, Inc.
	2,435	6.38%, 05/01/2009		2,435
		Procter & Gamble Co.
	2,150	9.36%, 01/01/2021		2,593
		Weyerhaeuser Co.
	800	7.38%, 03/15/2032		609
				5,637
		Energy - 0.3%
		Atmos Energy Corp.
	1,160	6.35%, 06/15/2017		1,072
		Weatherford International Ltd.
	1,000	5.95%, 06/15/2012		1,000
				2,072
		Finance - 7.5%
		Ace INA Holdings, Inc.
	125	5.88%, 06/15/2014		124
		American Express Centurion Bank
	1,200	6.00%, 09/13/2017		1,021
		AXA Financial, Inc.
	2,200	7.00%, 04/01/2028		1,586
		Bank of America Corp.
	3,000	5.42%, 03/15/2017		2,113
		Berkshire Hathaway Finance Corp.
	1,050	4.85%, 01/15/2015		1,083
		Brandywine Operating Partnership
	750	5.70%, 05/01/2017		409
	1,000	6.00%, 04/01/2016		586
		Capital One Bank
	750	6.50%, 06/13/2013		696
		Capital One Capital IV
	1,000	6.75%, 02/17/2037		425
		Capital One Financial Corp.
	870	5.70%, 09/15/2011		831
		CIT Group, Inc.
	1,150	7.63%, 11/30/2012		713
		Citigroup, Inc.
	1,600	6.00%, 10/31/2033		878
		COX Communications, Inc.
	2,000	5.45%, 12/15/2014		1,866
		Developers Diversified Realty Corp.
	1,500	5.38%, 10/15/2012		678
		Discover Financial Services, Inc.
	1,245	6.45%, 06/12/2017		879
		Eaton Vance Corp.
	530	6.50%, 10/02/2017		462
		Everest Reinsurance Holdings, Inc.
	885	5.40%, 10/15/2014		781
		Genworth Financial, Inc.
	1,500	6.15%, 11/15/2066		210
		Goldman Sachs Group, Inc.
	1,000	5.30%, 02/14/2012		1,014
	1,200	5.63%, 01/15/2017		1,028
		Health Care Properties
	2,035	6.00%, 01/30/2017		1,660

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

6

Shares or Principal Amount			Market Value ╪
CORPORATE BONDS: INVESTMENT GRADE - 12.3% — (continued)
		Finance - 7.5% — (continued)
		HSBC Finance Corp.
$	2,000	5.50%, 01/19/2016	$	1,680
		International Lease Finance Corp.
	2,200	5.00%, 09/15/2012		1,344
	1,200	5.63%, 09/15/2010		1,035
		Jackson National Life Insurance Co.
	2,000	8.15%, 03/15/2027 §		1,564
		John Deere Capital Corp.
	1,655	4.88%, 10/15/2010		1,704
		JP Morgan Chase & Co.
	1,795	5.13%, 09/15/2014		1,663
		KeyCorp Capital II
	250	6.88%, 03/17/2029		167
		Kimco Realty Corp.
	1,550	5.78%, 03/15/2016		1,198
		Liberty Mutual Group, Inc.
	2,335	5.75%, 03/15/2014 §		1,784
		Liberty Property L.P.
	260	6.63%, 10/01/2017		189
		Merrill Lynch & Co., Inc.
	2,000	5.00%, 02/03/2014		1,681
		Morgan Stanley
	2,650	5.38%, 10/15/2015		2,385
		National City Corp.
	125	6.88%, 05/15/2019		107
		New England Mutual Life Insurance Co.
	3,100	7.88%, 02/15/2024 §		2,714
		Prologis Trust
	1,500	5.63%, 11/15/2016		1,004
		Prudential Financial, Inc.
	585	5.80%, 06/15/2012		535
		Prudential Funding LLC
	2,000	6.75%, 09/15/2023 §		1,121
		Realty Income Corp.
	965	6.75%, 08/15/2019		710
		Republic New York Capital I
	250	7.75%, 11/15/2006		122
		Santander Central Hispano Issuances Ltd.
	500	7.63%, 11/03/2009		509
		Simon Property Group L.P.
	3,100	6.10%, 05/01/2016		2,680
		Sovereign Bancorp, Inc.
	1,000	8.75%, 05/30/2018		880
		Sovereign Capital Trust IV
	1,500	7.91%, 06/13/2036		980
		Torchmark Corp.
	3,000	8.25%, 08/15/2009		2,998
		UnitedHealth Group, Inc.
	500	5.50%, 11/15/2012		502
		WEA Finance LLC
	1,000	7.13%, 04/15/2018 §		828
		Wells Fargo Bank NA
	2,500	6.45%, 02/01/2011		2,549
				53,676
		Health Care - 0.5%
		CVS Corp.
	1,550	6.13%, 08/15/2016		1,581
		Schering-Plough Corp.
	2,000	5.55%, 12/01/2013		2,121
				3,702
		Services - 0.3%
		Comcast Corp.
	1,600	5.90%, 03/15/2016		1,598
		Wyndham Worldwide Corp.
	615	6.00%, 12/01/2016		406
				2,004
		Technology - 0.8%
		BellSouth Telecommunications
	250	7.00%, 12/01/2095		199
		Fiserv, Inc.
	1,250	6.13%, 11/20/2012		1,239
		General Electric Co.
	1,225	5.00%, 02/01/2013		1,257
		Intuit, Inc.
	1,500	5.40%, 03/15/2012		1,517
		Time Warner Cable, Inc.
	830	5.85%, 05/01/2017		798
		Verizon Global Funding Corp.
	250	7.25%, 12/01/2010		266
				5,276
		Transportation - 0.4%
		Continental Airlines, Inc.
	755	5.98%, 04/19/2022		597
		Southwest Airlines Co.
	1,750	5.75%, 12/15/2016		1,547
	666	6.15%, 08/01/2022		599
				2,743
		Utilities - 1.2%
		Consolidated Edison Co. of NY
	955	5.30%, 12/01/2016		948
		Enel Finance International
	805	6.80%, 09/15/2037 §		662
		Indianapolis Power and Light
	1,500	6.60%, 06/01/2037 §		1,259
		Kinder Morgan Energy Partners L.P.
	1,500	6.95%, 01/15/2038		1,304
		MidAmerican Energy Co.
	1,000	5.65%, 07/15/2012		1,028
		MidAmerican Energy Holdings Co.
	500	6.13%, 04/01/2036		434
		Northern Border Pipeline Co.
	1,150	7.75%, 09/01/2009		1,159
		Southern California Edison Co.
	1,750	5.55%, 01/15/2037		1,643
		Taqa Abu Dhabi National Energy Co.
	695	5.88%, 10/27/2016 §		638
				9,075
		Total corporate bonds: investment grade (cost $104,311)	$	88,151
MUNICIPAL BONDS - 0.3%
		General Obligations - 0.3%
		Oregon School Boards Association, Taxable Pension,
$	2,000	4.76%, 06/30/2028	$	1,612
		State of Illinois, Taxable Pension,
	650	5.10%, 06/01/2033		536
				2,148
		Total municipal bonds (cost $2,643)	$	2,148

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

7

The Hartford Advisers Fund

Schedule of Investments — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

Shares or Principal Amount					Market Value ╪
U.S. GOVERNMENT AGENCIES - 3.0%
		Federal Home Loan Mortgage Corporation - 1.8%
$	9,050	4.50%, 01/01/2038 - 02/01/2039				$	9,209
		Federal National Mortgage Association - 0.5%
	3,515	4.50%, 04/01/2038 - 03/01/2039					3,581
	108	5.00%, 06/01/2036					112
							3,693
		Government National Mortgage Association - 0.7%
	2,229	5.50%, 02/15/2036 - 01/15/2037					2,318
	2,447	6.00%, 11/20/2023 - 10/15/2034					2,568
	1,734	6.50%, 04/15/2026 - 02/15/2035					1,849
	1,713	7.00%, 11/15/2031 - 11/15/2033					1,827
	262	8.00%, 12/15/2029 - 02/15/2031					293
							8,855
		Total U.S. government agencies (cost $21,254)				$	21,757
U.S. GOVERNMENT SECURITIES - 11.3%
		Other Direct Federal Obligations - 2.8%
		Federal Financing Corporation:
$	1,456	5.24%, 12/06/2013 o				$	1,244
	2,220	5.25%, 12/27/2013 o					1,892
	10,000	9.80%, 04/06/2018					14,727
							17,863
		Federal Home Loan Bank:
	2,225	4.88%, 11/18/2011					2,401
							20,264
		U.S. Treasury Bonds - 1.0%
	5,775	6.25%, 08/15/2023					7,221
		U.S. Treasury Notes - 7.5%
	9,500	2.38%, 08/31/2010					9,719
	14,000	2.75%, 02/15/2019					13,560
	10,000	3.88%, 05/15/2018					10,657
	6,335	4.13%, 08/15/2010					6,622
	10,200	4.50%, 05/15/2017					11,386
	1,277	4.75%, 05/31/2012					1,406
							53,350
		Total U.S. government securities (cost $74,279)				$	80,835
		Total long-term investments (cost $823,428)				$	689,465
SHORT-TERM INVESTMENTS - 1.9%
		Repurchase Agreements - 1.9%
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $3,162, collateralized by GNMA 4.50% - 6.50%, 2038 - 2039, value of $3,225)
$	3,162	0.18%, 04/30/2009				$	3,162
		BNP Paribas Securities Corp. TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $3,784, collateralized by FHLMC 4.50% - 6.50%, 2035 - 2039, FNMA 4.50% - 6.50%, 2034 - 2047, value of $3,860)
	3,784	0.17%, 04/30/2009					3,784
		Deutsche Bank Securities TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $5,287, collateralized by FHLMC 4.00% - 7.00%, 2021 - 2039, FNMA 6.00% - 7.00%, 2034 - 2038, GNMA 4.50% - 7.00%, 2024 - 2039, value of $5,393)
	5,287	0.17%, 04/30/2009					5,287
		UBS Securities, Inc. Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $18, collateralized by U.S. Treasury Bond 7.50%, 2024, value of $18)
	18	0.14%, 04/30/2009					18
		UBS Securities, Inc. TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $1,140, collateralized by FHLMC 8.00% - 15.00%, 2009 - 2021, FNMA 3.50% - 15.50%, 2012 - - 2039, value of $1,163)
	1,140	0.16%, 04/30/2009					1,140
							13,391
		Total short-term investments (cost $13,391)				$	13,391
		Total investments (cost $836,819)▲	98.0	%		$	702,856
		Other assets and liabilities	2.0	%			14,442
		Total net assets	100.0	%		$	717,298

Note:	Percentage of investments as shown is the ratio of the total market value to total net assets. Market value of investments in foreign securities represents 4.22% of total net assets at April 30, 2009.
	Foreign securities that are principally traded on certain foreign markets are adjusted daily pursuant to a third party pricing service methodology approved by the Board of Directors in order to reflect an adjustment for factors occurring after the close of the foreign market but before the close of the New York Stock Exchange.
▲	At April 30, 2009, the cost of securities for federal income tax purposes was $852,585 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	28,737
Unrealized Depreciation		(178,466	)
Net Unrealized Depreciation	$	(149,729	)

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

8

†	The aggregate value of securities valued in good faith at fair value as determined under policies and procedures established by and under the supervision of the Fund’s Board of Directors at April 30, 2009, was $4,039, which represents 0.56% of total net assets. This calculation excludes securities that are principally traded in certain foreign markets and whose prices were adjusted pursuant to a third party pricing service methodology approved by the Board of Directors.
•	Currently non-income producing.
§	Securities issued within terms of a private placement memorandum, exempt from registration under Rule 144A under the Securities Act of 1933, as amended, and may be sold only to qualified institutional buyers. Pursuant to guidelines adopted by the Board of Directors, these issues are determined to be liquid. The aggregate value of these securities at April 30, 2009, was $10,769, which represents 1.50% of total net assets.
o	The interest rate disclosed for these securities represents the effective yield on the date of the acquisition.
⌂	The following securities are considered illiquid. Illiquid securities are often purchased in private placement transactions, are often not registered under the Securities Act of 1933 and may have contractual restrictions on resale. A security may also be considered illiquid if the security lacks a readily available market or if its valuation has not changed for a certain period of time.

Period	Shares/
Acquired	Par		Security	Cost Basis
06/2007		2,225	Buck Holdings L.P.	$	2,227
04/2008		823	Washington Mutual, Inc. Private Placement		7,200
04/2008		103	Washington Mutual, Inc. Private Placement Warrants		—

The aggregate value of these securities at April 30, 2009 was $4,039 which represents 0.56% of total net assets.

Forward Foreign Currency Contracts Outstanding at April 30, 2009

							Unrealized
	Market		Contract		Delivery		Appreciation/
Description	Value ╪		Amount		Date		(Depreciation)
British Pound (Sell)	$	74	$	74		05/06/09	$	—
Euro (Sell)		81		81		05/06/09		—
							$	—

╪ See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of securities.

FAS 157 Disclosure of Investment Valuation Hierarchy Levels

Assets:
Investment in securities — Level 1	$	481,383
Investment in securities — Level 2		216,238
Investment in securities — Level 3		5,235
Total	$	702,856

Following is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value:

Assets:
Securities:
Balance as of October 31, 2008	$	4,478
Net realized loss		(713	)
Change in unrealized appreciation ♦		2,511
Net sales		(1,041	)
Balance as of April 30, 2009	$	5,235
♦ Change in unrealized gains or losses relating to assets still held at April 30, 2009	$	2,012

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

9

The Hartford Advisers Fund

Statement of Assets and Liabilities
April 30, 2009 (Unaudited)
(000’s Omitted)

Assets:
Investments in securities, at fair value (cost $836,819)	$	702,856
Cash		1
Unrealized appreciation on forward foreign currency contracts
Receivables:		—
Investment securities sold		21,257
Fund shares sold		11
Dividends and interest		3,259
Other assets		185
Total assets		727,569
Liabilities:
Unrealized depreciation on forward foreign currency contracts
Payables:		—
Investment securities purchased		8,455
Fund shares redeemed		1,266
Investment management fees		79
Distribution fees		50
Accrued expenses		421
Total liabilities		10,271
Net assets	$	717,298
Summary of Net Assets:
Capital stock and paid-in-capital		1,123,608
Accumulated distribution in excess of net investment income		(2,310	)
Accumulated net realized loss on investments and foreign currency transactions		(270,037	)
Unrealized depreciation of investments and the translation of assets and liabilities denominated in foreign currency		(133,963	)
Net assets	$	717,298
Shares authorized		910,000
Par value	$	0.001
Class A: Net asset value per share/Maximum offering price per share	$	10.78/$11.40
Shares outstanding		49,515
Net assets	$	533,700
Class B: Net asset value per share	$	10.67
Shares outstanding		7,489
Net assets	$	79,884
Class C: Net asset value per share	$	10.78
Shares outstanding		8,512
Net assets	$	91,753
Class R3: Net asset value per share	$	10.90
Shares outstanding		1
Net assets	$	11
Class R4: Net asset value per share	$	10.89
Shares outstanding		72
Net assets	$	779
Class R5: Net asset value per share	$	10.91
Shares outstanding		1
Net assets	$	8
Class Y: Net asset value per share	$	10.91
Shares outstanding		1,024
Net assets	$	11,163

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

10

The Hartford Advisers Fund

Statements of Operations

For the Six Month Period Ended April 30, 2009 (Unaudited)

(000’s Omitted)

Investment Income:
Dividends	$	5,936
Interest		6,362
Securities lending		143
Less: Foreign tax withheld		(93	)
Total investment income		12,348
Expenses:
Investment management fees		2,372
Transfer agent fees		1,277
Distribution fees
Class A		649
Class B		428
Class C		458
Class R3		—
Class R4		—
Custodian fees		6
Accounting services		64
Registration and filing fees		58
Board of Directors’ fees		10
Audit fees		16
Other expenses		199
Total expenses (before waivers and fees paid indirectly)		5,537
Expense waivers		(500	)
Transfer agent fee waivers		(243	)
Commission recapture		(26	)
Custodian fee offset		(5	)
Total waivers and fees paid indirectly		(774	)
Total expenses, net		4,763
Net investment income		7,585
Net Realized Loss on Investments, Other Financial Instruments and Foreign Currency Transactions:
Net realized loss on investments in securities		(165,309	)
Net realized loss on futures		(100	)
Net realized gain on foreign currency transactions		3,258
Net Realized Loss on Investments, Other Financial Instruments and Foreign Currency Transactions		(162,151	)
Net Changes in Unrealized Appreciation of Investments and Foreign Currency Transactions:
Net unrealized appreciation of investments		161,048
Net unrealized depreciation on translation of other assets and liabilities in foreign currencies		(3,239	)
Net Changes in Unrealized Appreciation of Investments and Foreign Currency Transactions		157,809
Net Loss on Investments, Other Financial Instruments and Foreign Currency Transactions		(4,342	)
Net Increase in Net Assets Resulting from Operations	$	3,243

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

11

The Hartford Advisers Fund

Statement of Changes in Net Assets

(000’s Omitted)

	For the Six-Month
	Period Ended			For the
	April 30, 2009			Year Ended
	(Unaudited)			October 31, 2008
Operations:
Net investment income	$	7,585		$	19,469
Net realized loss on investments, other financial instruments and foreign currency transactions		(162,151	)		(103,462	)
Net unrealized appreciation (depreciation) of investments and foreign currency transactions		157,809			(369,100	)
Net increase (decrease) in net assets resulting from operations		3,243			(453,093	)
Distributions to Shareholders:
From net investment income
Class A		(10,024	)		(15,267	)
Class B		(1,308	)		(1,361	)
Class C		(1,374	)		(1,601	)
Class R3		—			—
Class R4		(3	)		(2	)
Class R5		—			—
Class Y		(222	)		(363	)
From net realized gain on investments
Class A		—			(116,370	)
Class B		—			(26,714	)
Class C		—			(22,170	)
Class R3		—			(1	)
Class R4		—			(6	)
Class R5		—			(1	)
Class Y		—			(2,134	)
Total distributions		(12,931	)		(185,990	)
Capital Share Transactions:
Class A		(54,023	)		(39,453	)
Class B		(21,605	)		(52,862	)
Class C		(13,622	)		(15,999	)
Class R3		2			4
Class R4		635			114
Class R5		—			1
Class Y		(144	)		(182	)
Net decrease from capital share transactions		(88,757	)		(108,377	)
Net decrease in net assets		(98,445	)		(747,460	)
Net Assets:
Beginning of period		815,743			1,563,203
End of period	$	717,298		$	815,743
Accumulated undistributed (distribution in excess of) net investment income (loss)	$	(2,310	)	$	3,036

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

12

The Hartford Advisers Fund

Notes to Financial Statements
April 30, 2009 (Unaudited)
(000’s Omitted)

1.	Organization:
	The Hartford Mutual Funds, Inc. (“Company”) is an open-end management investment company comprised of fifty-two portfolios. Financial statements for The Hartford Advisers Fund (the “Fund”), a series of the Company, are included in this report.
	The Company is organized under the laws of the State of Maryland and is registered with the Securities and Exchange Commission (“SEC”) under the Investment Company Act of 1940, as amended (“1940 Act”). The Fund is a diversified open-end management investment company.
	Class A shares are sold with a front-end sales charge of up to 5.50%. Class B shares are sold with a contingent deferred sales charge which is assessed on the lesser of the per share net asset value (“NAV”) of the shares at the time of redemption or the original purchase price, and declines from up to 5.00% to zero depending on the period of time the shares are held. Class C shares are sold with a contingent deferred sales charge of up to 1.00% on shares redeemed within twelve months of purchase. Classes R3, R4, R5 shares, which are offered to employer-sponsored retirement plans, and Class Y shares, which are sold to certain eligible institutional investors, are sold without a sales charge. All classes of shares have identical voting, redemption, dividend, liquidation and other rights and the same terms and conditions, with the exceptions that each class may have different expenses, which may affect performance, and except that Class B shares automatically convert to Class A shares after 8 years.
	Effective at the close of business on September 30, 2009 (the “Close Date”), no new or additional investments will be allowed in Class B shares of The Hartford Mutual Funds (including investments through any systematic investment plan). After the Close Date, existing shareholders of Class B shares may continue to hold their Class B shares, exchange their Class B shares for Class B shares of another Hartford Mutual Fund (as permitted by existing exchange privileges), and redeem their Class B shares as described in the Fund’s prospectus. Reinstatement privileges with respect to Class B shares will continue under the current policy. If you have chosen to reinvest capital gains and dividends, any such capital gains or dividends on Class B shares will continue to be reinvested in Class B shares of the Fund. For Class B shares outstanding as of the Close Date, all Class B share attributes, including the 12b-1 fee, contingent deferred sales charge schedule, and conversion to Class A shares remain unchanged.
2.	Significant Accounting Policies:
	The following is a summary of significant accounting policies of the Fund, which are in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”).

a)	Security Transactions and Investment Income — Security transactions are recorded on the trade date (the date the order to buy or sell is executed). Security gains and losses are determined on the basis of identified cost.
	Dividend income is accrued as of the ex-dividend date, except that certain dividends for foreign securities where the ex-dividend date may have passed are recorded as soon as the Fund is informed of the dividend in the exercise of reasonable diligence. Interest income, including amortization of premium and accretion of discounts, is accrued on a daily basis.
b)	Security Valuation — The Fund generally uses market prices in valuing portfolio securities. If market prices are not readily available or are deemed unreliable, the Fund will use the fair value of the security as determined in good faith under policies and procedures established by and under the supervision of the Fund’s Board of Directors. Market prices may be deemed unreliable, for example, if a security is thinly traded or if an event has occurred after the close of the security’s primary markets, but before the close of the New York Stock Exchange (the “Exchange”) (normally 4:00 p.m. Eastern Time, referred to as the “Valuation Time”) that is expected to affect the value of the portfolio security. The circumstances in which the Fund may use fair value pricing include, among others: (i) the occurrence of events that are significant to a particular issuer, such as mergers, restructuring or defaults; (ii) the occurrence of events that are significant to an entire market, such as natural disasters in a particular region or governmental actions; (iii) trading

13

The Hartford Advisers Fund

Notes to Financial Statements — (continued)

 April 30, 2009 (Unaudited)

(000’s Omitted)

	restrictions on securities; (iv) thinly traded securities and (v) market events such as trading halts and early market closings. In addition, with respect to the valuation of stocks primarily traded on foreign markets, the Fund uses a fair value pricing service approved by the Fund’s Board of Directors, which employs quantitative models that evaluate changes in the value of foreign market proxies (e.g., futures contracts, ADR’s, exchange traded funds (“ETF’s”)) after the close of the foreign markets but before the close of the Exchange. Securities that are primarily traded on foreign markets may trade on days that are not business days of the Fund. The value of the foreign securities in which the Fund invests may change on days when a shareholder will not be able to purchase or redeem shares of the Fund. Fair value pricing is subjective in nature and the use of fair value pricing by the Fund may cause the NAV of its shares to differ significantly from the NAV that would have been calculated using market prices at the close of the exchange on which a portfolio security is primarily traded but before the close of the Exchange. There can be no assurance that the Fund could obtain the fair value assigned to a security if the Fund were to sell the security at approximately the time at which the Fund determines its NAV.
	Debt securities (other than short-term obligations) held by the Fund are valued on the basis of valuations furnished by an independent pricing service which determines valuations for normal institutional size trading units of debt securities. Securities for which prices are not available from an independent pricing service are valued using market quotations obtained from one or more dealers that make markets in the securities in accordance with procedures established by the Fund’s Board of Directors. Generally, the Fund may use fair valuation in regard to debt securities when the Fund holds defaulted or distressed securities or securities in a company in which a reorganization is pending. Short-term investments with a maturity of more than 60 days when purchased are valued based on market quotations until the remaining days to maturity become less than 61 days. Investments that mature in 60 days or less are valued at amortized cost, which approximates market value.
	Securities of foreign issuers and non-dollar securities are translated from the local currency into U.S. dollars using prevailing exchange rates.
	Futures contracts are valued at the most recent settlement price reported by an exchange on which, over time, they are traded most extensively. If a settlement price is not available, futures contracts will be valued at the most recent trade price as of the Valuation Time. If there were no trades, the contract shall be valued at the mean of the closing bid/ask prices as of the Valuation Time.
	Financial instruments for which prices are not available from an independent pricing service are valued using market quotations obtained from one or more dealers that make markets in securities in accordance with procedures established by the Fund’s Board of Directors.
	A forward currency contract shall be valued based on the price of the underlying currency at the prevailing interpolated exchange rate, which is a combination of the spot currency rate and the forward currency rate. Spot currency rates and forward currency rates are obtained from an independent pricing service on a daily basis not more than one hour before the Valuation Time.
	Other derivative or contractual type instruments shall be valued using market prices if such instruments trade on an exchange or market. If such instruments do not trade on an exchange or market, such instruments shall be valued at a price at which the counterparty to such contract would repurchase the instrument. In the event that the counterparty cannot provide a price, such valuation may be determined in accordance with procedures established by the Fund’s Board of Directors.
	Investments in open-end mutual funds are valued at the respective NAV of each open-end mutual fund on the valuation date.
c)	Foreign Currency Transactions — The accounting records of the Fund are maintained in U.S. dollars. All assets and liabilities initially expressed in foreign currencies are converted into U.S. dollars at the prevailing exchange rates.

14

	Purchases and sales of investment securities, dividend and interest income and certain expenses are translated at the rates of exchange prevailing on the respective dates of such transactions.
	The Fund does not isolate that portion of portfolio security valuation resulting from fluctuations in the foreign currency exchange rates on portfolio securities from the fluctuations arising from changes in the market prices of securities held. Such fluctuations are included with the net realized and unrealized gain or loss on investments in the accompanying financial statements.
	Net realized foreign exchange gains or losses arise from sales of foreign currencies and the difference between asset and liability amounts initially stated in foreign currencies and the U.S. dollar value of the amounts actually received or paid. Net unrealized foreign exchange gains or losses arise from changes in the value of other assets and liabilities at the end of the reporting period, resulting from changes in the exchange rates.
d)	Securities Lending — The Fund may lend its securities to certain qualified brokers who pay the Fund negotiated lender fees. The loans are fully collateralized at all times with cash and/or U.S. Government Securities and/or repurchase agreements. The cash collateral is then invested in short-term money market instruments. The repurchase agreements are fully collateralized by U.S. Government Securities. The adequacy of the collateral for securities on loan is monitored on a daily basis. For instances where the market value of collateral falls below the market value of the securities out on loan, such collateral is supplemented on the following business day.
	While securities are on loan, the Fund is subject to the following risks: 1) that the borrower may default on the loan and that the collateral could be inadequate in the event the borrower defaults, 2) that the earnings on the collateral invested may not be sufficient to pay fees incurred in connection with the loan, 3) that the principal value of the collateral invested may decline and may not be sufficient to pay back the borrower for the amount of the collateral posted, 4) that the borrower may use the loaned securities to cover a short sale which may place downward pressure on the market prices of the loaned securities, 5) that return of loaned securities could be delayed and could interfere with portfolio management decisions and 6) that any efforts to recall the securities for purposes of voting a proxy may not be effective. The Fund had no securities out on loan as of April 30, 2009.
e)	Joint Trading Account — Pursuant to an exemptive order issued by the SEC, the Fund may transfer uninvested cash balances into a joint trading account managed by Wellington Management Company, LLP (“Wellington”). These balances may be invested in one or more repurchase agreements and/or short-term money market instruments.
f)	Repurchase Agreements — A repurchase agreement is an agreement by which the seller of a security agrees to repurchase the security sold at a mutually agreed upon time and price. At the time the Fund enters into a repurchase agreement, the value of the underlying collateral security(ies), including accrued interest, will be equal to or exceed the value of the repurchase agreement. Securities that serve to collateralize the repurchase agreement are held by the Fund’s custodian in book entry or physical form in the custodial account of the Fund or in a third party custodial account. Repurchase agreements are valued at cost plus accrued interest. The Fund, as shown on the Schedule of Investments, had outstanding repurchase agreements as of April 30, 2009.
g)	Forward Foreign Currency Contracts — The Fund may enter into forward foreign currency contracts that obligate the Fund to repurchase/replace or sell currencies at specified future dates. Forward foreign currency contracts may be used to hedge against adverse fluctuations in exchange rates between currencies.
	Forward foreign currency contracts involve elements of market risk in excess of the amount reflected in the Statement of Assets and Liabilities. In addition, risks may arise upon entering into these contracts from the potential inability of the counterparties to meet the terms of the contracts and from unanticipated movements in the value of the foreign currencies relative to the U.S. dollar.
h)	Fund Share Valuation and Dividend Distributions to Shareholders — Orders for the Fund’s shares are executed in accordance with the investment instructions of the shareholders. The NAV of the Fund’s shares is determined as of the

15

The Hartford Advisers Fund

Notes to Financial Statements — (continued)

April 30, 2009 (Unaudited)

(000’s Omitted)

	close of each business day of the Exchange. The NAV is determined separately for each class of the Fund by dividing the Fund’s net assets attributable to that class by the number of shares of the class outstanding. Orders for the purchase of the Fund’s shares prior to the close of the Exchange on any day on which the Exchange is open for business are priced at the NAV determined as of the close of the Exchange. Orders after the close of the Exchange, or on a day on which the Exchange and/or the Fund is not open for business, are priced at the next determined NAV.
	The Fund intends to distribute substantially all of its net investment income and net realized capital gains to shareholders no less frequently than once a year. Normally, dividends from net investment income are declared and paid quarterly. Dividends are paid on shares beginning on the business day after the day when the funds used to purchase the shares are collected by the transfer agent for the Fund. Unless shareholders specify otherwise, all dividends will be automatically reinvested in additional full or fractional shares of the Fund.
	Distributions from net investment income, realized capital gains and capital are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP with respect to character and timing. These differences include but are not limited to foreign currency gains and losses, losses deferred due to wash sales adjustments, adjustments related to Passive Foreign Investment Companies and certain derivatives, and excise tax regulations. Permanent book and federal income tax basis differences relating to shareholder distributions will result in reclassifications to certain of the Fund’s capital accounts (see Federal Income Taxes: Reclassification of Capital Accounts footnote).
i)	Illiquid and Restricted Securities — The Fund is permitted to invest up to 15% of its net assets in illiquid securities. “Illiquid Securities” are those that may not be sold or disposed of in the ordinary course of business within seven days, at approximately the price used to determine the Fund’s NAV. The Fund may not be able to sell illiquid securities or other investments when its sub-adviser considers it desirable to do so or may have to sell such securities or investments at a price that is lower than the price that could be obtained if the securities or investments were more liquid. A sale of illiquid securities or other investments may require more time and may result in higher dealer discounts and other selling expenses than does the sale of those that are liquid. Illiquid securities and investments also may be more difficult to value, due to the unavailability of reliable market quotations for such securities or investments, and investment in them may have an adverse impact on the Fund’s NAV. The Fund may also purchase certain restricted securities, commonly known as Rule 144A securities, that can be resold to institutions and which may be determined to be liquid pursuant to policies and guidelines established by the Fund’s Board of Directors. The Fund, as shown in the Schedule of Investments, had illiquid or restricted securities as of April 30, 2009.
j)	Securities Purchased on a When-Issued or Delayed-Delivery Basis — Delivery and payment for securities that have been purchased by the Fund on a forward commitment, or when-issued or delayed-delivery basis take place beyond the customary settlement period. During this period, such securities are subject to market fluctuations, and the Fund identifies securities segregated in its records with value at least equal to the amount of the commitment. As of April 30, 2009, the Fund had no outstanding when-issued or forward commitments.
k)	Credit Risk — Credit risk depends largely on the perceived financial health of bond issuers. In general, the credit rating is inversely related to the credit risk of the issuer. Higher rated bonds generally are deemed to have less credit risk, while lower or unrated bonds are deemed to have higher risk of default. The share price, yield and total return of a Fund which holds securities with higher credit risk may fluctuate more than with less aggressive bond funds.
l)	Prepayment Risks — Most senior floating rate interests and certain debt securities allow for prepayment of principal without penalty. Senior floating rate interests and securities subject to prepayment risk generally offer less potential for gains when interest rates decline, and may offer a greater potential for loss when interest rates rise. In addition, with respect to securities, rising interest rates may cause prepayments to occur at a slower than expected rate, thereby effectively lengthening the maturity of the security and making the security more sensitive to interest rate changes. Prepayment risk is a major risk of mortgage-backed securities and certain asset-backed securities. Accordingly, the potential for the value of a senior floating rate interest or debt security to increase in response to interest rate declines is

16

	limited. For certain asset-backed securities, the actual maturity may be less than the stated maturity shown in the Schedule of Investments. As a result, the timing of income recognition relating to these securities may vary based upon the actual maturity.
	Senior floating rate interests or debt securities purchased to replace a prepaid loan or a debt security may have lower yields than the yield on the prepaid loan or debt security. Senior floating rate interests generally are subject to mandatory and/or optional prepayment. Because of these mandatory prepayment conditions and because there may be significant economic incentives for the Borrower to repay, prepayments of senior floating rate interests may occur. As a result, the actual remaining maturity of senior floating rate interests held may be substantially less than the stated maturities shown in the Schedule of Investments.
m)	Use of Estimates — The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and the reported amounts of income and expenses during the period. Operating results in the future could vary from the amounts derived from management’s estimates.
n)	Financial Accounting Standards Board Financial Accounting Standards No. 157 — Effective November 1, 2008, the Fund adopted Financial Accounting Standards Board (“FASB”) Statement of Financial Accounting Standards No. 157, “Fair Value Measurements” (“FAS 157”). This standard clarifies the definition of fair value for financial reporting, establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements. Fair value is defined under FAS 157 as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Under FAS 157, a fair value measurement should reflect all of the assumptions that market participants would use in pricing the asset or liability, including assumptions about the risk inherent in a particular valuation technique, the effect of a restriction on the sale or use of an asset, and the risk of nonperformance.
	Various inputs are used in determining the value of the Fund’s investment. These inputs are summarized, per FAS 157, into three broad hierarchy levels. This hierarchy is based on whether the valuation inputs are observable or unobservable. These levels are:

• Level 1 — Quoted prices in active markets for identical securities. Level 1 includes exchange-traded instruments such as domestic equities, some foreign equities, options, futures, mutual funds, ETF’s, and rights and warrants.

• Level 2 — Observable inputs other than Level 1 prices, such as quoted prices for similar securities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the security. Level 2 includes debt securities that are traded less frequently than exchange-traded instruments and that are valued using third party pricing services and foreign equities, whose value is determined using a multi-factor regression model with inputs that are observable in the market; and money market instruments, which are carried at amortized cost.

• Level 3 — Significant unobservable inputs that are supported by little or no market activity. Level 3 includes financial instruments whose values are determined using broker quotes and require significant management judgment or estimation. This category includes broker quoted securities, long dated OTC options and securities where trading has been halted or there are certain restrictions on trading. While these securities are priced using unobservable inputs, the valuation of these securities reflects the best available data and management believes the prices are a good representation of exit price.

Individual securities within any of the above mentioned asset classes may be assigned a different hierarchical level than those presented above, as individual circumstances dictate.

FAS 157 also requires that a roll forward reconciliation be shown for all Level 3 securities from the beginning of the reporting period to the end of the reporting period. Part of this reconciliation includes transfers in and/or out of Level 3. For purposes of this reconciliation, transfers in are shown at the end of period fair value and transfers out are shown at the beginning of period fair value.

17

The Hartford Advisers Fund

Notes to Financial Statements — (continued)

April 30, 2009 (Unaudited)

(000’s Omitted)

	Refer to the valuation hierarchy levels summary and the Level 3 roll forward reconciliation found following the Schedule of Investments.
	FASB Staff Position No. 157-4 — In April 2009, FASB released FASB Staff Position No. 157-4, “Determining Fair Value When the Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly” (“FSP FAS 157-4”). FSP FAS 157-4 provides additional guidance on determining whether a market for a financial asset is not active and a transaction is not distressed when measuring fair value under FAS 157. The FSP also requires additional disclosure detail on debt and equity securities by major investment categories. FSP FAS 157-4 is effective for interim and annual periods ending after June 15, 2009. At this time, management is evaluating the implications of FSP FAS 157-4 and does not believe it will impact valuation but will require additional disclosure. This additional disclosure has not yet been implemented.
o)	Financial Accounting Standards Board Financial Accounting Standards No. 161 — In March 2008, the FASB released Statement of Financial Accounting Standards No. 161, “Disclosures about Derivative Instruments and Hedging Activities” (“FAS 161”). FAS 161 requires companies to disclose information detailing the objectives and strategies for using derivative instruments, the level of derivative activity entered into by the company and any credit risk-related contingent features of the agreements. The application of FAS 161 is required for fiscal years and interim periods beginning after November 15, 2008. At this time, management is evaluating the implications of FAS 161 and has not yet implemented the new disclosure standard.
p)	Indemnifications: Under the Company’s organizational documents, the Company shall indemnify its officers and directors to the full extent required or permitted under Maryland General Corporation Law and the federal securities law. In addition, the Company, on behalf of the Fund, may enter into contracts that contain a variety of indemnifications. The Company’s maximum exposure under these arrangements is unknown. However, the Company has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote.

3. Futures and Options:

Futures and Options Transactions — The Fund may invest in futures and options contracts in order to gain exposure to or protect against changes in the market. A futures contract is an agreement between two parties to buy and sell a security at a set price on a future date. When the Fund enters into such futures contracts, it is required to deposit with a futures commission merchant an amount of “initial margin” of cash, commercial paper or U.S. Treasury Bills. Subsequent payments, called variation margin, to and from the broker, are made on a daily basis as the price of the underlying security fluctuates, making the long and short positions in the futures contract more or less valuable (i.e., mark-to-market), which results in an unrealized gain or loss to the Fund.

At any time prior to the expiration of the futures contract, the Fund may close the position by taking an opposite position, which would effectively terminate the position in the futures contract. A final determination of variation margin is then made, additional cash is required to be paid by or released to the Fund and the Fund realizes a gain or loss.

The use of futures contracts involves elements of market risk, which may exceed the amounts recognized in the Statement of Assets and Liabilities. Changes in the value of the futures contracts may decrease the effectiveness of the Fund’s strategy and potentially result in loss. As of April 30, 2009, there were no outstanding futures contracts.

The premium paid by the Fund for the purchase of a call or put option is included in the Fund’s Statement of Assets and Liabilities as an investment and subsequently “marked-to-market” through net unrealized appreciation (depreciation) of options to reflect the current market value of the option as of the end of the reporting period.

The Fund may write (sell) covered options. “Covered” means that so long as the Fund is obligated as the writer of an option, it will own either the underlying securities or currency or an option to purchase or sell the same underlying

18

securities or currency having an expiration date of the covered option and an exercise price equal to or less than the exercise price of the covered option, or will pledge cash or other liquid securities having a value equal to or greater than the fluctuating market value of the option securities or currencies. The Fund receives a premium for writing a call or put option, which is recorded on the Fund’s Statement of Assets and Liabilities and subsequently “marked-to-market” through net unrealized appreciation (depreciation) of options. There is a risk of loss from a change in the value of such options, which may exceed the related premiums received. As of April 30, 2009, there were no outstanding written options contracts.

4. Federal Income Taxes:

a)

Federal Income Taxes — For federal income tax purposes, the Fund intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code (“IRC”) by distributing substantially all of its taxable net investment income and net realized capital gains to its shareholders and otherwise complying with the requirements of regulated investment companies. The Fund has distributed substantially all of its income and capital gains in prior years and the Fund intends to distribute substantially all of its income and gains during the calendar year ending December 31, 2009. Accordingly, no provision for federal income or excise taxes has been made in the accompanying financial statements. Distributions from short-term capital gains are treated as ordinary income distributions for federal income tax purposes.

b)

The tax character of distributions paid by the Fund for the periods indicated is as follows (as adjusted for dividends payable):

	For the Year Ended		For the Year Ended
	October 31, 2008		October 31, 2007
Ordinary Income	$	120,978	$	24,582
Long-Term Capital Gains *		65,012		9,545

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

As of October 31, 2008, the Fund’s components of distributable earnings (deficit) on a tax basis were as follows:

	Amount
Undistributed Ordinary Income	$	6,246
Accumulated Capital Losses*	$	(92,120	)
Unrealized Depreciation†	$	(310,748	)
Total Accumulated Deficit	$	(396,622	)

*	The Fund has capital loss carryforwards that are identified in the Capital Loss Carryforward Note that follows.
†	The differences between book-basis and tax-basis unrealized appreciation (depreciation) are attributable to the tax deferral of wash sales losses, the mark-to-market adjustment for certain derivatives in accordance with IRC Sec. 1256, the mark to market for Passive Foreign Investment Companies and basis differences in real estate investment trusts.

c) Reclassification of Capital Accounts — In accordance with American Institute of Certified Public Accountants (AICPA) Statement of Position 93-2, Determination, Disclosure, and Financial Statement Presentation of Income, Capital Gain, and Return of Capital Distributions by Investment Companies, the Fund has recorded reclassifications in its capital accounts. These reclassifications had no impact on the NAV of the Fund. The reclassifications are a result of permanent differences between GAAP and tax accounting for such items as net operating losses that reduce distribution requirements. Adjustments are made to reflect the impact these items have on current and future distributions to shareholders. Therefore, the source of the Fund’s distributions may be shown in the accompanying Statement of Changes in Net Assets as from net investment income, from net realized gains on investments or from capital depending on the

19

The Hartford Advisers Fund

Notes to Financial Statements — (continued)

 April 30, 2009 (Unaudited)

(000’s Omitted)

	type of book and tax differences that exist. As of October 31, 2008, the Fund recorded reclassifications to increase undistributed net investment income by $121 and decrease accumulated net realized loss by $121.
d)	Capital Loss Carryforward — At October 31, 2008 (tax-year-end), the Fund had capital loss carryforwards for U.S. federal income tax purposes of approximately:

Year	Amount
2016	$	92,120
Total	$	92,120

e) Financial Accounting Standards Board Interpretation No. 48 — On July 13, 2006, the FASB released FASB Interpretation No. 48 “Accounting for Uncertainty in Income Taxes” (“FIN 48”). FIN 48 provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. The Fund adopted FIN 48 for fiscal years beginning after December 15, 2006. Management has evaluated the implications of FIN 48 for all open tax years (tax years ended October 31, 2006 — 2008) and has determined there is no impact to the Fund’s financial statements.

5. Expenses:

a)

Investment Management Agreements — Hartford Investment Financial Services, LLC (“HIFSCO”) serves as investment manager to the Fund pursuant to an Investment Management Agreement with The Hartford Mutual Funds, Inc. As investment manager, HIFSCO has overall investment supervisory responsibility for the Fund. In addition, HIFSCO provides administrative personnel, services, equipment, facilities and office space for proper operation of the Fund. HIFSCO has contracted with Wellington for the provision of day-to-day investment management services to the Fund in accordance with the Fund’s investment objective and policies. The Fund pays a fee to HIFSCO, a portion of which may be used to compensate Wellington.

The schedule below reflects the rates of compensation paid to HIFSCO for investment management services rendered during the six-month period ended April 30, 2009; the rates are accrued daily and paid monthly:

Average Daily Net Assets	Annual Fee
On first $500 million		0.6900	%
On next $500 million		0.6250	%
On next $4 billion		0.5750	%
On next $5 billion		0.5725	%
Over $10 billion		0.5700	%

b) Accounting Services Agreement — Pursuant to the Fund Accounting Agreement between Hartford Life Insurance Company (“HLIC”) and the Fund, HLIC provides accounting services to the Fund and receives monthly compensation on the Fund’s average net assets. The Fund’s accounting service fees are accrued daily and paid monthly.

Average Daily Net Assets	Annual Fee
On first $5 billion		0.018	%
On next $5 billion		0.016	%
Over $10 billion		0.014	%

c) Operating Expenses — Allocable expenses incurred by the Company are allocated to each Fund and allocated to classes within the Fund in proportion to the average daily net assets of the Fund and each class, except where allocation of

20

certain expenses is more fairly made directly to the Fund or to specific classes within a Fund. During the six-month period ended April 30, 2009, HIFSCO has contractually limited the total operating expenses of this Fund, exclusive of taxes, interest expense, brokerage commissions, certain distribution expenses and extraordinary expenses as follows:

Class A	Class B	Class C	Class R3			Class R4			Class R5			Class Y
1.18%	NA	NA		1.43	%		1.13	%		0.83	%	NA

d)

Fees Paid Indirectly - The Fund has entered into agreements with State Street Global Markets, LLC and Russell Implementation Services Inc. to partially recapture non-discounted trade commissions. Such rebates are used to pay a portion of the Fund’s expenses. In addition, the Fund’s custodian bank has also agreed to reduce its fees when the Fund maintains cash on deposit in the non-interest-bearing custody account. For the six-month period ended April 30, 2009, these amounts are included in the Statement of Operations.

The ratio of expenses to average net assets in the accompanying financial highlights excludes the reduction in expenses related to fees paid indirectly. Had the fees paid indirectly been included, the annualized expense ratio for the periods listed below would have been as follows:

	Annualized
	Six-Month
	Period			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended
	Ended April			October 31,			October 31,			October 31,			October 31,			October 31,
	30, 2009			2008			2007			2006			2005			2004
Class A Shares		1.12	%		1.17	%		1.09	%		1.11	%		1.18	%		1.22	%
Class B Shares		2.07			2.00			1.90			1.90			1.96			1.94
Class C Shares		2.03			1.86			1.78			1.81			1.88			1.86
Class R3 Shares		1.43			1.43			1.40	*
Class R4 Shares		1.13			1.11			1.05	†
Class R5 Shares		0.83			0.79			0.80	‡
Class Y Shares		0.77			0.70			0.63			0.65			0.73			0.74

*	From December 22, 2006 (commencement of operations), through October 31, 2007
†	From December 22, 2006 (commencement of operations), through October 31, 2007
‡	From December 22, 2006 (commencement of operations), through October 31, 2007

e)

Distribution and Service Plan for Class A, B, C, R3 and R4 Shares - HIFSCO is the principal underwriter and distributor of the Fund. HIFSCO is engaged in distribution activities, which include marketing and distribution of shares through broker-dealers, financing distribution costs and maintaining financial books and records. For the six-month period ended April 30, 2009, HIFSCO received front-end load sales charges of $212 and contingent deferred sales charges of $46 from the Fund.

The Fund has adopted Distribution and Service Plans in accordance with Rule 12b-1 of the Investment Company Act of 1940, as amended, to compensate the distributor (HIFSCO) for activities intended to result in the sale and distribution of Classes A, B, C, R3 and R4 shares and for providing services for shareholders. The Rule 12b-1 plan applicable to Class A shares of the Funds provides for payment of a Rule 12b-1 fee of up to 0.35% of average daily net assets; however, the Board of Directors has currently authorized 12b-1 payments of only up to 0.25%. Some or all of the fee may be used for shareholder servicing expenses with the remainder used for distribution expenses. Some or the entire Rule 12b-1 fee for Class B shares may be remitted to broker-dealers for distribution and/or shareholder account services. Under the Class B Plan, the Fund pays the Distributor 1.00% of the average daily net assets of Class B shares that are outstanding for 8 years or less, 0.25% of which is a fee for services provided to existing shareholders with the remainder used for distribution expenses. After eight years, Class B shares convert to Class A shares. Upon conversion to Class A shares, the Class A plan described above will apply to those shares. Under the Class C Plan, the Fund pays the Distributor 1.00% of the average daily net assets of Class C shares outstanding, 0.25% of which is intended as a fee for services provided to existing shareholders with the remainder used for distribution expenses. For Class C shares, some or the

21

The Hartford Advisers Fund

Notes to Financial Statements — (continued)

April 30, 2009 (Unaudited)

(000’s Omitted)

	entire fee may be remitted to broker-dealers for distribution and/or shareholder account services. Class R3 shares have a distribution fee of 0.50% and Class R4 shares have a distribution fee of 0.25%. For Classes R3 and R4 shares, some or the entire fee may be remitted to broker dealers for distribution and/or shareholder account services. The Fund’s 12b-1 fees are accrued daily and paid monthly.
	For the six-month period ended April 30, 2009, total sales commissions paid to affiliated brokers/dealers of The Hartford for distributing the Fund’s shares were $25. These commissions are in turn paid to sales representatives of the broker/dealers.
f)	Other Related Party Transactions — Certain officers of the Fund are directors and/or officers of HIFSCO and/or The Hartford or its subsidiaries. For the six-month period ended April 30, 2009, a portion of the Fund’s chief compliance officer’s salary was paid by the Fund in the amount of $1. Hartford Administrative Services Company (“HASCO”), a wholly owned subsidiary of The Hartford, provides transfer agent services to the Fund. HASCO was compensated $1,103 for providing such services. These fees are accrued daily and paid monthly.
g)	Payments from Affiliate:
	The total return in the accompanying financial highlights includes payment from affiliates. Had the payment from affiliates been excluded, the total return for the periods listed below would have been as follows:

							Impact from Payment
							from Affiliate for
	Impact from			Total Return			Transfer Agent
	Payment from			Excluding			Allocation			Total Return
	Affiliate for SEC			Payment from			Methodology			Excluding Payment
	Settlement for the			Affiliate for the			Reimbursements for			from Affiliate for
	Year Ended			Year Ended			the Year Ended			the Year Ended
	October 31, 2007			October 31, 2007			October 31, 2004			October 31, 2004
Class A		0.07	%		13.15	%		0.19	%		3.74	%
Class B		0.08			12.24			0.26			2.95
Class C		0.07			12.36			0.21			3.06
Class Y		0.07			13.65			—			—

6.	Affiliate Holdings:
	As of April 30, 2009, affiliates of The Hartford had ownership of shares in the Fund as follows:

	Shares
Class R3		1
Class R5		1

7.	Investment Transactions:
	For the six-month period ended April 30, 2009, the Fund’s aggregate purchases and sales of investment securities (excluding short-term investments) were as follows:

	Amount
Cost of Purchases Excluding U.S. Government Obligations	$	223,883
Sales Proceeds Excluding U.S. Government Obligations		341,435
Cost of Purchases for U.S. Government Obligations		13,852
Sales Proceeds for U.S. Government Obligations		8,208

22

8.	Capital Share Transactions:
	The following information is for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	For the Six-Month Period Ended April 30, 2009												For the Year Ended October 31, 2008
			Shares					Shares							Shares					Shares
			Issued for					Issued		Net Increase					Issued for					Issued		Net Increase
	Shares		Reinvested		Shares			from		(Decrease) of			Shares		Reinvested		Shares			from		(Decrease) of
	Sold		Dividends		Redeemed			Merger		Shares			Sold		Dividends		Redeemed			Merger		Shares
Class A
Shares		2,455		959		(8,892	)		—		(5,478	)		4,723		8,149		(16,658	)		—		(3,786	)
Amount	$	24,456	$	9,726	$	(88,205	)	$	—	$	(54,023	)	$	68,922	$	128,191	$	(236,566	)	$	—	$	(39,453	)
Class B
Shares		146		126		(2,476	)		—		(2,204	)		360		1,720		(5,914	)		—		(3,834	)
Amount	$	1,386	$	1,295	$	(24,286	)	$	—	$	(21,605	)	$	5,188	$	26,933	$	(84,983	)	$	—	$	(52,862	)
Class C
Shares		312		124		(1,814	)		—		(1,378	)		520		1,393		(3,194	)		—		(1,281	)
Amount	$	3,065	$	1,310	$	(17,997	)	$	—	$	(13,622	)	$	7,233	$	22,009	$	(45,241	)	$	—	$	(15,999	)
Class R3
Shares		—		—		—			—		—			—		—		—			—		—
Amount	$	2	$	—	$	—		$	—	$	2		$	3	$	1	$	—		$	—	$	4
Class R4
Shares		70		—		(8	)		—		62			14		—		(7	)		—		7
Amount	$	710	$	4	$	(79	)	$	—	$	635		$	209	$	8	$	(103	)	$	—	$	114
Class R5
Shares		—		—		—			—		—			—		—		—			—		—
Amount	$	—	$	—	$	—		$	—	$	—		$	—	$	1	$	—		$	—	$	1
Class Y
Shares		43		22		(79	)		—		(14	)		120		157		(305	)		—		(28	)
Amount	$	435	$	221	$	(800	)	$	—	$	(144	)	$	1,836	$	2,498	$	(4,516	)	$	—	$	(182	)

The following reflects the conversion of Class B Shares into Class A Shares (reflected as Class A Shares issued and Class B shares redeemed) for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	Shares		Dollars
For the Six-Month Period Ended April 30, 2009		848	$	8,452
For the Year Ended October 31, 2008		2,044	$	30,041

9.	Line of Credit:
	The Fund is one of several Hartford Funds that participate in a $500 million committed revolving line of credit facility. The facility is to be used for temporary or emergency purposes. Under the arrangement, the Fund is required to own securities having a market value in excess of 300% of the total bank borrowings. The interest rate on borrowings varies depending on the nature of the loan. The facility also requires a fee to be paid based on the amount of the commitment. During the six-month period ended April 30, 2009, the Fund did not have any borrowings under this facility.
10.	Industry Classifications:
	Other than the industry classifications “Other Investment Pools and Funds” and “Exchange Traded Funds”, equity industry classifications used in this report are the Global Industry Classification Standard, which was developed by and is the exclusive property and service mark of MSCI, Inc. and Standard & Poor’s.

23

The Hartford Advisers Fund

Financial Highlights — (Unaudited)

	- Selected Per-Share Data - (a)																													- Ratios and Supplemental Data -
																																		Ratio of			Ratio of			Ratio of
																																		Expenses			Expenses			Expenses
																																		to Average			to Average			to Average
																																		Net Assets			Net Assets			Net Assets
							Net																											Before			After			After
							Realized																											Waivers			Waivers			Waivers
							and Un-																											and			and			and
							realized									Distrib-								Net										Reimburse-			Reimburse-			Reimburse-			Ratio of
			Net		Pay-		Gain						Dividends			utions								Increase			Net							ments and			ments and			ments and			Net Invest-			Port-
	Net Asset		Invest-		ments		(Loss)						from Net			from			Distri-					(Decrease)			Asset					Net Assets		Including			Including			Excluding			ment			folio
	Value at		ment		from		on			Total from			Invest-			Realized			butions		Total			in Net			Value at					at End of		Expenses			Expenses			Expenses			Income to			Turn-
	Beginning		Income		(to)		Invest-			Investment			ment			Capital			from		Distri-			Asset			End of		Total			Period		not Subject			not Subject			not Subject			Average			over
Class	of Period		(Loss)		Affiliate		ments			Operations			Income			Gains			Capital		butions			Value			Period		Return(b)			(000's)		to Cap(c)			to Cap(c)			to Cap(c)			Net Assets			Rated(d)
For the Six-Month Period Ended April 30, 2009 (Unaudited) (e)
A	$	10.80	$	0.12	$	—	$	0.05		$	0.17		$	(0.19	)	$	—		$	—	$	(0.19	)	$	(0.02	)	$	10.78		1.72	%(f)	$	533,700		1.37	%(g)		1.13	%(g)		1.13	%(g)		2.37	%(g)		32	%
B		10.69		0.07		—		0.06			0.13			(0.15	)		—			—		(0.15	)		(0.02	)		10.67		1.20	(f)		79,884		2.31	(g)		2.07	(g)		2.07	(g)		1.44	(g)		—
C		10.80		0.07		—		0.06			0.13			(0.15	)		—			—		(0.15	)		(0.02	)		10.78		1.19	(f)		91,753		2.03	(g)		2.03	(g)		2.03	(g)		1.47	(g)		—
R3		10.92		0.10		—		0.06			0.16			(0.18	)		—			—		(0.18	)		(0.02	)		10.90		1.56	(f)		11		1.74	(g)		1.43	(g)		1.43	(g)		2.02	(g)		—
R4		10.92		0.09		—		0.08			0.17			(0.20	)		—			—		(0.20	)		(0.03	)		10.89		1.64	(f)		779		1.19	(g)		1.13	(g)		1.13	(g)		2.02	(g)		—
R5		10.93		0.13		—		0.06			0.19			(0.21	)		—			—		(0.21	)		(0.02	)		10.91		1.88	(f)		8		0.88	(g)		0.83	(g)		0.83	(g)		2.63	(g)		—
Y		10.93		0.14		—		0.06			0.20			(0.22	)		—			—		(0.22	)		(0.02	)		10.91		1.91	(f)		11,163		0.77	(g)		0.77	(g)		0.77	(g)		2.71	(g)		—
For the Year Ended October 31, 2008
A		18.52		0.26		—		(5.74	)		(5.48	)		(0.25	)		(1.99	)		—		(2.24	)		(7.72	)		10.80		(33.24	)		593,816		1.18			1.18			1.18			1.75			79
B		18.34		0.15		—		(5.70	)		(5.55	)		(0.11	)		(1.99	)		—		(2.10	)		(7.65	)		10.69		(33.80	)		103,632		2.03			2.00			2.00			0.93			—
C		18.51		0.16		—		(5.73	)		(5.57	)		(0.15	)		(1.99	)		—		(2.14	)		(7.71	)		10.80		(33.68	)		106,819		1.87			1.87			1.87			1.06			—
R3		18.70		0.21		—		(5.78	)		(5.57	)		(0.22	)		(1.99	)		—		(2.21	)		(7.78	)		10.92		(33.39	)		9		1.57			1.43			1.43			1.49			—
R4		18.70		0.26		—		(5.78	)		(5.52	)		(0.27	)		(1.99	)		—		(2.26	)		(7.78	)		10.92		(3316	)		113		1.11			1.11			1.11			1.80			—
R5		18.71		0.31		—		(5.79	)		(5.48	)		(0.31	)		(1.99	)		—		(2.30	)		(7.78	)		10.93		(32.96	)		7		0.79			0.79			0.79			2.13			—
Y		18.71		0.33		—		(5.80	)		(5.47	)		(0.32	)		(1.99	)		—		(2.31	)		(7.78	)		10.93		(32.91	)		11,347		0.70			0.70			0.70			2.22			—
For the Year Ended October 31, 2007
A		16.74		0.30		0.01		1.87			2.18			(0.31	)		(0.09	)		—		(0.40	)		1.78			18.52		13.23	(h)		1,088,361		1.15			1.10			1.10			1.67			84
B		16.57		0.16		0.02		1.84			2.02			(0.16	)		(0.09	)		—		(0.25	)		1.77			18.34		12.32	(h)		248,020		1.96			1.91			1.91			0.85			—
C		16.73		0.18		0.01		1.87			2.06			(0.19	)		(0.09	)		—		(0.28	)		1.78			18.51		12.44	(h)		206,799		1.83			1.78			1.78			0.98			—
R3(i)		17.24		0.21		—		1.44			1.65			(0.19	)		—			—		(0.19	)		1.46			18.70		9.62	(f)		11		1.45	(g)		1.40	(g)		1.40	(g)		1.38	(g)		—
R4(j)		17.24		0.25		—		1.44			1.69			(0.23	)		—			—		(0.23	)		1.46			18.70		9.88	(f)		53		1.11	(g)		1.06	(g)		1.06	(g)		1.68	(g)		—
R5(k)		17.24		0.31		—		1.43			1.74			(0.27	)		—			—		(0.27	)		1.47			18.71		10.17	(f)		11		0.85	(g)		0.80	(g)		0.80	(g)		1.98	(g)		—
Y		16.91		0.38		0.01		1.89			2.28			(0.39	)		(0.09	)		—		(0.48	)		1.80			18.71		13.73	(h)		19,948		0.69			0.64			0.64			2.13			—
For the Year Ended October 31, 2006
A		15.34		0.31		—		1.38			1.69			(0.29	)		—			—		(0.29	)		1.40			16.74		11.16			1,110,324		1.17			1.12			1.12			1.86			99
B		15.19		0.18		—		1.37			1.55			(0.17	)		—			—		(0.17	)		1.38			16.57		10.25			341,772		1.96			1.91			1.91			1.07			—
C		15.34		0.19		—		1.38			1.57			(0.18	)		—			—		(0.18	)		1.39			16.73		10.32			219,580		1.87			1.82			1.82			1.16			—
Y		15.50		0.38		—		1.40			1.78			(0.37	)		—			—		(0.37	)		1.41			16.91		11.63			17,710		0.71			0.66			0.66			2.32			—
For the Year Ended October 31, 2005 (e)
A		14.57		0.26		—		0.80			1.06			(0.29	)		—			—		(0.29	)		0.77			15.34		7.30			1,222,944		1.21			1.19			1.19			1.73			66
B		14.43		0.14		—		0.79			0.93			(0.17	)		—			—		(0.17	)		0.76			15.19		6.48			437,462		1.99			1.98			1.98			0.95			—
C		14.56		0.16		—		0.80			0.96			(0.18	)		—			—		(0.18	)		0.78			15.34		6.63			253,605		1.91			1.89			1.89			1.06			—
Y		14.72		0.33		—		0.81			1.14			(0.36	)		—			—		(0.36	)		0.78			15.50		7.78			15,342		0.75			0.74			0.74			2.13			—
For the Year Ended October 31, 2004 (e)
A		14.19		0.15		0.03		0.38			0.56			(0.18	)		—			—		(0.18	)		0.38			14.57		3.93	(h)		1,539,264		1.22			1.22			1.22			1.23			42
B		14.05		0.03		0.04		0.38			0.45			(007	)		—			—		(0.07	)		0.38			14.43		3.21	(h)		550,499		1.95			1.95			1.95			0.50			—
C		14.18		0.06		0.03		0.37			0.46			(0.08	)		—			—		(0.08	)		0.38			14.56		3.27	(h)		355,711		1.86			1.86			1.86			0.58			—
Y		14.37		0.25		—		0.36			0.61			(0.26	)		—			—		(0.26	)		0.35			14.72		4.22			13,587		0.74			0.74			0.74			1.71			—

(a)	Information presented relates to a share outstanding throughout the indicated period.
(b)	Assumes initial investment at net asset value at the beginning of each period, reinvestment of all distributions, the complete redemption of the investment at net asset value at the end of each period and no sales charge. Total return would be reduced if sales charges were taken into account.
(c)	Ratios do not include fees paid indirectly (See Expenses in the accompanying Notes to Financial Statements).
(d)	Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between the classes of shares issued.
(e)	Per share amounts have been calculated using average shares outstanding method.
(f)	Not annualized.
(g)	Annualized.
(h)	Total return without the inclusion of the Payments from (to) Affiliate, as noted on the Statement of Operations, can be found in Expenses in the accompanying Notes to Financial Statements.
(i)	Commenced operations on December 22, 2006.
(j)	Commenced operations on December 22, 2006.
(k)	Commenced operations on December 22, 2006.

24

The Hartford Advisers Fund

Directors and Officers (Unaudited)

The Board of Directors appoints officers who are responsible for the day-to-day operations of the Fund and who execute policies formulated by the Directors. Each director serves until his or her death, resignation, or retirement or until the next annual meeting of shareholders is held or until his or her successor is elected and qualifies.

Directors and officers who are employed by or who have a financial interest in The Hartford are considered “interested” persons of the Fund pursuant to the Investment Company Act of 1940, as amended. Each officer and three of the Fund’s directors, as noted in the chart below, are “interested” persons of the Fund. Each director serves as a director for The Hartford Mutual Funds, Inc., The Hartford Mutual Funds II, Inc., The Hartford Income Shares Fund, Inc., Hartford Series Fund, Inc., and Hartford HLS Series Fund II, Inc., which collectively consist of 100 funds. Correspondence may be sent to directors and officers c/o Hartford Mutual Funds, P.O. Box 2999, Hartford, Connecticut 06104-2999, except that correspondence to Ms. Fagely may be sent to 500 Bielenberg Drive, Woodbury, Minnesota 55125.

The table below sets forth, for each director and officer, his or her name, year of birth, current position with the Fund and date first elected or appointed to The Hartford Mutual Funds, Inc. (“MF”) and The Hartford Mutual Funds II, Inc. (“MF2”), principal occupation, and, for directors, other directorships held. The Fund’s statement of additional information contains further information on the directors and is available free of charge by calling 1-888-843-7824 or writing to Hartford Mutual Funds, P.O. Box 64387, St. Paul, MN 55164-0387.

Information on the aggregate remuneration paid to the directors of the Fund can be found in the Statement of Operations herein. The Fund pays a portion of the Chief Compliance Officer’s compensation, but does not pay salaries or compensation to any of its officers or directors who are employed by The Hartford.

Non-Interested Directors

Lynn S. Birdsong (1946) Director since 2003, Co-Chairman of the Investment Committee

Mr. Birdsong is a private investor. Since 1981, Mr. Birdsong has been a partner in Birdsong Company, an advertising specialty firm. Since 2003, Mr. Birdsong has been an independent director of The Japan Fund. From 2003 to March 2005, Mr. Birdsong was an independent director of the Atlantic Whitehall Funds. From 1979 to 2002, Mr. Birdsong was a managing director of Zurich Scudder Investments, an investment management firm. During his employment with Scudder, Mr. Birdsong was an interested director of The Japan Fund.

Robert M. Gavin, Jr. (1940) Director since 2002 (MF) and 1986 (MF2), Chairman of the Board since 2004

Dr. Gavin is an educational consultant. Prior to September 1, 2001, he was President of Cranbrook Education Community and prior to July 1996, he was President of Macalester College, St. Paul, Minnesota.

Duane E. Hill (1945) Director since 2001 (MF) and 2002 (MF2), Chairman of the Nominating Committee

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

Sandra S. Jaffee (1941) Director since 2005

Ms. Jaffee is Chairman and Chief Executive Officer of Fortent (formerly Searchspace Group), a leading provider of compliance/regulatory technology to financial institutions. Ms. Jaffee served as an Entrepreneur in Residence with Warburg Pincus, a private equity firm, from August 2004 to August 2005. From September 1995 to July 2004, Ms. Jaffee served as Executive Vice President at Citigroup, where she was President and Chief Executive Officer of Citibank’s Global Securities Services (1995-2003).

William P. Johnston (1944) Director since 2005, Chairman of the Compliance Committee

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

25

The Hartford Advisers Fund

Directors and Officers (Unaudited) — (continued)

Phillip O. Peterson (1944) Director since 2002 (MF) and 2000 (MF2), Chairman of the Audit Committee

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

Lemma W. Senbet (1946) Director since 2005

Dr. Senbet is the William E. Mayer Chair Professor of Finance at the University of Maryland, Robert H. Smith School of Business. He was chair of the Finance Department during 1998-2006. Previously he was an endowed professor of finance at the University of Wisconsin-Madison. Also, he was director of the Fortis Funds from March 2000-July 2002. Dr. Senbet served the finance profession in various capacities, including as director of the American Finance Association and President of the Western Finance Association. In 2006, Dr. Senbet was inducted Fellow of Financial Management Association International for his career-long distinguished scholarship and professional service.

Interested Directors and Officers

Thomas M. Marra* (1958) Director since 2002

Mr. Marra has served as President and Chief Operating Officer of The Hartford Financial Services Group, Inc. (“The Hartford”) since 2007. Mr. Marra currently serves as Director of Hartford Life, Inc. (“HL, Inc.”). Mr. Marra served as Chief Operating Officer of Hartford Life Insurance Company, Inc. (“Hartford Life”) (2000-2008), as President of Hartford Life (2002-2008) and as Director of Hartford Life’s Investment Products Division from 1998 to 2000.

* On February 24, 2009, The Hartford and Mr. Marra determined to enter into a mutually agreed separation whereby Mr. Marra will retire, and his role as an executive officer and employee of The Hartford will terminate, effective July 3, 2009. Mr. Marra will resign his position as a Director of the Fund effective June 25, 2009.

Lowndes A. Smith (1939) Director since 2002, Co-Chairman of the Investment Committee

Mr. Smith served as Vice Chairman of The Hartford from February 1997 to January 2002, as President and Chief Executive Officer of Hartford Life, Inc. from February 1997 to January 2002, and as President and Chief Operating Officer of The Hartford Life Insurance Companies from January 1989 to January 2002. Mr. Smith serves as a Director of White Mountains Insurance Group, Ltd., One Beacon Insurance, Symetra Financial and as a Managing Director of Whittington Gray Associates.

John C. Walters* (1962) Director since 2008

Mr. Walters currently serves as Chief Executive Officer, President and Director of HL, Inc. Mr. Walters previously served as President of the U.S. Wealth Management Division of Hartford Life, Inc., as Co-Chief Operating Officer of Hartford Life Insurance Company (2007-2008) and as Executive Vice President and Director of its Investment Products Division (2000-2008). Mr. Walters also serves as Chairman of the Board, Chief Executive Officer, President and Director of Hartford Life Insurance Company and as Executive Vice President of The Hartford. In addition, Mr. Walters is Manager of HL Investment Advisors, LLC (“HL Advisors”).

* Mr. Walters previously served as President and Chief Executive Officer of the Fund (2007 — 2009).

Other Officers

Robert M. Arena, Jr. (1968) President and Chief Executive Officer since 2009 (served as Vice President of the Fund (2006 — 2009))

Mr. Arena serves as Executive Vice President of Hartford Life Insurance Company, (“Hartford Life”). Additionally, Mr. Arena is Director and Senior Vice President of Hartford Administrative Services Company, (“HASCO”), Manager, Chief Executive Officer and President of Hartford Investment Financial Services, LLC (“HIFSCO”) and HL Advisors. Prior to joining The Hartford in 2004, he was Senior Vice President in charge of Product Management for American Skandia/Prudential in the individual annuities division. Mr. Arena joined American Skandia in 1996.

Tamara L. Fagely (1958) Vice President, Treasurer and Controller since 2002 (MF) 1993 (MF2)

Ms. Fagely has been a Vice President of HASCO since 1998 and Chief Financial Officer since 2006. Currently Ms. Fagely is a Vice President of Hartford Life. She served as Assistant Vice President of Hartford Life from December 2001 through March 2005. In addition, Ms. Fagely is Controller and Chief Financial Officer of HIFSCO.

Brian Ferrell (1962) AML Compliance Officer since 2008

Mr. Ferrell has served as Assistant Vice President and AML Compliance Officer for The Hartford since 2006 and as AML Compliance Officer for HASCO and Hartford Investor Services Company, LLC (“HISC”) since 2008. Prior to joining The Hartford in 2006, Mr. Ferrell held various positions at the U.S. Department of the Treasury, (the “Treasury”), from 2001 to 2006 where he served as Chief Counsel for the Treasury’s Financial Crimes Enforcement Network, (“FinCEN”) from 2005 — 2006.

26

Thomas D. Jones, III (1965) Vice President and Chief Compliance Officer since 2006

Mr. Jones serves as Chief Compliance Officer for the Hartford Mutual Funds and Vice President and Director of Securities Compliance for The Hartford. He is also Vice President of HIFSCO, HL Advisors, and Hartford Life Insurance Company. Mr. Jones joined The Hartford in 2006 from SEI Investments, where he served as Chief Compliance Officer for its mutual funds and investment advisers. Prior to joining SEI, Mr. Jones was First Vice President and Compliance Director for Merrill Lynch Investment Managers (Americas) (“MLIM”), where he worked from 1992-2004. At MLIM, Mr. Jones was responsible for the compliance oversight of various investment products, including mutual funds, wrap accounts, institutional accounts and alternative investments.

Edward P. Macdonald (1967) Vice President, Secretary and Chief Legal Officer since 2005

Mr. Macdonald serves as Assistant General Counsel and Assistant Vice President of The Hartford and Chief Legal Officer and Vice President of HIFSCO. He also serves as Vice President and Secretary of HASCO, Assistant Vice President of Hartford Life, and Chief Legal Officer, Secretary and Vice President of HL Advisors. Prior to joining The Hartford in 2005, Mr. Macdonald was Chief Counsel, Investment Management for Prudential Financial (formerly American Skandia Investment Services, Inc.). He joined Prudential in April 1999.

Vernon J. Meyer (1964) Vice President since 2006

Mr. Meyer serves as Senior Vice President of Hartford Life and as Director of its Investment Advisory Group in the Individual Markets Group segment. He also serves as Senior Vice President of HIFSCO and HL Advisors. Prior to joining The Hartford in 2004, Mr. Meyer was with MassMutual which he joined in 1987.

D. Keith Sloane (1960) Vice President since 2009

Mr. Sloane is a Senior Vice President of Hartford Life where he serves as Director of mutual fund product management for The Hartford’s mutual funds and 529 college savings businesses. Additionally, Mr. Sloane currently serves as Senior Vice President of HIFSCO, HL Advisors, and HASCO. Prior to joining The Hartford in 2007, Mr. Sloane was Director of product marketing and led the mutual fund business for Wachovia Securities (“Wachovia”) in their investment products group. Mr. Sloane joined Wachovia in 1995.

Jane Wolak (1961) Vice President since 2009

Ms. Wolak currently serves as Vice President of Hartford Life. Ms. Wolak joined Hartford Life as Vice President, Retail Product Services in May 2007. She is also Vice President of HASCO. Previously, Ms. Wolak was with Sun Life Financial where she held the position of Vice President, Service Center Operations from 2001 — 2007.

HOW TO OBTAIN A COPY OF THE FUND’S PROXY VOTING POLICIES AND VOTING RECORDS

A description of the policies and procedures that the Fund uses to determine how to vote proxies relating to portfolio securities and a record of how the Fund voted any proxies for the twelve-month period ended June 30, 2008 is available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov.

QUARTERLY PORTFOLIO HOLDINGS INFORMATION

The Fund files a complete schedule of portfolio holdings with the Commission for the first and third quarters of each fiscal year on Form N-Q. The Fund’s Forms are available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov. The Form N-Q may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330.

27

The Hartford Advisers Fund

Expense Example (Unaudited)

Your Fund’s Expenses

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments and contingent deferred sales charges (CDSC) (2) ongoing costs including management fees; distribution fees; and other fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the period of October 31, 2008 through April 30, 2009.

Actual Expenses

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

Hypothetical Example for Comparison Purposes

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

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads) and CDSC. Therefore, the second line 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 are equal to the Fund’s annualized expense ratios multiplied by average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

	Actual return						Hypothetical (5% return before expenses)
					Expenses paid						Expenses paid					Days in
					during the period						during the period					the		Days
	Beginning		Ending Account		October 31, 2008		Beginning		Ending Account		October 31,		Annualized			current		in the
	Account Value		Value		through		Account Value		Value		2008 through		expense			1/2		full
	October 31, 2008		April 30, 2009		April 30, 2009		October 31, 2008		April 30, 2009		April 30, 2009		ratio			year		year
Class A	$	1,000.00	$	1,017.19	$	5.65	$	1,000.00	$	1,019.19	$	5.65		1.13	%		181		365
Class B	$	1,000.00	$	1,012.04	$	10.32	$	1,000.00	$	1,014.52	$	10.33		2.07			181		365
Class C	$	1,000.00	$	1,011.86	$	10.12	$	1,000.00	$	1,014.72	$	10.14		2.03			181		365
Class R3	$	1,000.00	$	1,015.64	$	7.14	$	1,000.00	$	1,017.70	$	7.15		1.43			181		365
Class R4	$	1,000.00	$	1,016.35	$	5.64	$	1,000.00	$	1,019.19	$	5.65		1.13			181		365
Class R5	$	1,000.00	$	1,018.83	$	4.15	$	1,000.00	$	1,020.67	$	4.15		0.83			181		365
Class Y	$	1,000.00	$	1,019.11	$	3.85	$	1,000.00	$	1,020.97	$	3.85		0.77			181		365

28

The Hartford Balanced Allocation Fund

Table of Contents

Manager Discussions (Unaudited)	2
Financial Statements
Schedule of Investments at April 30, 2009 (Unaudited)	4
Statement of Assets and Liabilities at April 30, 2009 (Unaudited)	5
Statement of Operations for the Six Month Period Ended April 30, 2009 (Unaudited)	6
Statement of Changes in Net Assets for the Six Month Period Ended April 30, 2009 (Unaudited) and the Year Ended October 31, 2008	7
Notes to Financial Statements (Unaudited)	8
Financial Highlights (Unaudited)	17
Directors and Officers (Unaudited)	18
How to Obtain a Copy of the Fund’s Proxy Voting Policies and Proxy Voting Records (Unaudited)	20
Quarterly Portfolio Holdings Information (Unaudited)	20
Expense Example (Unaudited)	21

The Hartford Balanced Allocation Fund
(subadvised by Hartford Investment Management Company)

Performance Overview(1) 5/28/04 — 4/30/09
Growth of a $10,000 investment in Class A which includes Sales Charge

Barclays Capital U.S. Aggregate Bond Index is an unmanaged index and is composed of securities from the Barclays Capital Government/Credit Bond Index, Mortgage-Backed Securities Index, Asset-Backed Securities Index and Commercial Mortgage-Backed Securities Index.

S&P 500 Index is a market capitalization weighted price index composed of 500 widely held common stocks.

You cannot invest directly in an index.

The value of shares will fluctuate so that, when redeemed, shares may be worth more or less than their original cost. The chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.

Investment objective — Seeks long-term capital appreciation and income.

Average Annual Total Returns(2,3,4) (as of 4/30/09)

	Inception		1			Since
	Date		Year			Inception
Balanced Allocation A#		5/28/04		-25.24	%		0.22	%
Balanced Allocation A##		5/28/04		-29.35	%		-0.92	%
Balanced Allocation B#		5/28/04		-25.84	%		-0.53	%
Balanced Allocation B##		5/28/04		-29.48	%		-0.88	%
Balanced Allocation C#		5/28/04		-25.83	%		-0.53	%
Balanced Allocation C##		5/28/04		-26.56	%		-0.53	%
Balanced Allocation I#		5/28/04		-25.08	%		0.38	%
Balanced Allocation R3#		5/28/04		-25.65	%		0.02	%
Balanced Allocation R4#		5/28/04		-25.34	%		0.20	%
Balanced Allocation R5#		5/28/04		-25.08	%		0.34	%

#	Without sales charge
##	With sales charge
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
(1)	Growth of a $10,000 investment in Classes B, C, I, R3, R4 and R5 shares will vary from results seen above due to differences in the expenses charged to these classes.
(2)	Class I shares commenced operations on 8/31/06. Performance prior to 8/31/06 reflects Class A performance. Class R3, R4 and R5 shares commenced operations on 12/22/06. Performance prior to 12/22/06 reflects Class A performance.
(3)	The initial investment in Class A shares reflects the maximum sales charge and Classes B and C reflect CDSC.
(4)	Total returns presented above were calculated using the Fund’s net asset value available to shareholders for sale or redemption of Fund shares on April 30, 2009, which excludes investment transactions as of this date.

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

Portfolio Managers
Hugh Whelan, CFA	Edward C. Caputo, CFA
Managing Director	Vice President

How did the Fund perform?

The Class A shares of The Hartford Balanced Allocation Fund returned 0.28%, before sales charge, for the six-month period ended April 30, 2009. In comparison, its benchmarks, the S&P 500 Index and the Barclays Capital U.S. Aggregate Bond Index, returned -8.53% and 7.74%, respectively, while the average return of the Lipper Mixed-Asset Target Allocation Moderate Funds category, a group of funds with investment strategies similar to those of the Fund, was -0.39%.

Why did the Fund perform this way?

The U.S. recession continued to deepen during the six-month period under review. Rising unemployment weighed on personal income and spending, while first quarter industrial production posted the steepest quarterly decline in more than 30 years. However, as the six-month period drew to a close, there were some signs that perhaps the rate of economic decline was beginning to slow. Financial conditions stabilized a bit, while the Fed’s purchases of long-term Treasuries and mortgage-backed securities also provided strong support for the mortgage market, driving fixed mortgage rates lower. Generally, the Fund’s target asset allocation is set at approximately 60% equities and 40% fixed-income.

This environment initially created another difficult period for stocks, with the S&P 500 Index closing at a new low of 676.53 on March��9, down -29.30% since the start of the 6-month period. However, emergent signs of a slowdown in the economy’s free-fall helped lift the index through the remainder of the period, leaving it down “only” -8.53% for the period.

2

The index was in positive territory in March and April, gaining 8.76% and 9.57%, respectively, for a gain of 29.38% from March 9 through the end of the period. Declines were widespread across most equity asset classes during the six-month period. Among the eleven equity asset classes in our investment universe, emerging market stocks, EAFE small cap stocks, and U.S. midcap growth stock indices posted positive returns over the 6-month period. U.S. Real-Estate Investment Trusts (REITS) led the way lower during the period, while growth stocks continued to outperform value stocks across all market capitalization levels. International stocks outperformed U.S. stocks.

In fixed income, five and ten year Treasury yields increased during the 6-month period. Within the major sectors of the Barclays U.S. Aggregate Index, investment grade credit was the top performer at 11.47%, while commercial mortgage-backed securities (CMBS) were the weakest performers at 1.32%. In the high yield asset classes, high yield bonds and emerging markets debt both outperformed the Barclays Capital U.S. Aggregate Index, while floating rate notes did not. In addition, Treasury Inflation-Protection Securities (TIPS) were the best performing investment grade asset class in our investment universe at 9.46%.

There are two main drivers of the Fund’s performance: asset allocation among various asset classes and performance of the underlying funds. With regard to asset allocation, the Fund maintains relatively fixed exposures to the equity and fixed income markets. Therefore, we seek to add value by strategically allocating within the equity and fixed income investment sub asset classes. Our asset allocation decisions detracted from the Fund’s overall performance during the period.

Concerning the Fund’s equity exposure, favorable allocations to emerging market stocks and international small cap stocks helped offset unfavorable allocations to U.S. stocks. By design, the Fund also maintains exposure to various fixed income asset classes to deliver a well diversified portfolio solution. Favorable allocations to TIPS failed to offset the impact of unfavorable allocations to floating rate notes. Based on the risk preferences of the Fund’s mandate, the portfolio’s duration (a measure of a bond’s sensitivity to changes in interest rates) is targeted to be less than the Barclay’s Capital U.S. Aggregate Index. The shorter duration positioning detracted from the Fund’s performance over the period.

Beyond the asset allocation decision, we also seek to add value by selecting the underlying mutual funds that will most effectively deliver the target asset class exposures. We analyze all of the funds in our investment universe, looking through each fund’s objective and stated benchmark to see what it actually holds and how it really behaves. During the period, underlying fund selection detracted from our overall performance.

During the period, the Fund continued to utilize Exchange-Traded Funds (ETFs) to obtain asset class exposures otherwise unavailable through The Hartford family of funds. Specifically, the Fund has target allocations to ETFs that provide U.S. real estate and international real estate exposure, as well as emerging market debt exposure.

Whenever possible, we rely on cash flows to execute our allocation changes. However, a hard rebalance (i.e. a fund rebalancing to move the underlying fund investments to their target allocation percentages) was required during the first quarter of 2009 to bring the fund allocations closer to their targets.

What is the outlook?

In fixed income, risk premiums (the additional compensation paid to investors to tolerate the increased level of risk in a given asset class relative to Treasuries) across most asset classes reversed course and began to contract as conditions improved and volatility declined. An onslaught of government policy, from fiscal stimulus to quantitative easing, was the primary catalyst and buyers of historically inexpensive corporate debt emerged as more market participants recognized relative value versus equities. Although risk premiums have come off their historical peak, spreads remain significantly wider (i.e. short and long term interest rates farther apart) than in prior recessions.

In equities the earnings picture is cloudy. First, earnings are falling at near record-breaking rates and all indications are that they will continue to fall. Second, the quality and reliability of the earnings reported is lower than historical standards as the gap between pro forma (“street”) earnings and GAAP (Generally Accepted Accounting Principles) earnings rose in the past several months. Third, there is little clarity in future earnings prospects as the disparity among analyst estimates for future earnings remains at elevated levels. Historically, such consensus building was a precondition to the final, sustained recovery from bear markets associated with recessions.

We believe that investors are well served by adhering to a strategic, diversified portfolio and rebalancing accordingly. We construct these portfolios based upon the long-term properties of asset classes. We look at their long-term returns, volatilities, and correlations between each other and run optimizations to build an optimal portfolio.

Composition by Underlying Fund
as of April 30, 2009

	Percentage of Net
Fund Name	Assets
Powershares Emerging Markets Sovereign Debt Portfolio ETF		0.1	%
SPDR DJ Wilshire International Real Estate ETF		0.6
SPDR DJ Wilshire REIT ETF		0.9
State Street Bank Money Market Fund		0.0
The Hartford Capital Appreciation Fund, Class Y		15.8
The Hartford Capital Appreciation II Fund, Class Y		5.1
The Hartford Disciplined Equity Fund, Class Y		2.9
The Hartford Dividend and Growth Fund, Class Y		1.7
The Hartford Equity Income Fund, Class Y		3.2
The Hartford Floating Rate Fund, Class Y		3.8
The Hartford Fundamental Growth Fund, Class Y		0.1
The Hartford Global Growth Fund, Class Y		5.1
The Hartford Growth Fund, Class Y		1.5
The Hartford Growth Opportunities Fund, Class Y		2.1
The Hartford High Yield Fund, Class Y		0.4
The Hartford Income Fund, Class Y		9.5
The Hartford Inflation Plus Fund, Class Y		8.0
The Hartford International Opportunities Fund, Class Y		4.0
The Hartford International Small Company Fund, Class Y		2.3
The Hartford MidCap Fund, Class Y		1.5
The Hartford Select MidCap Value Fund, Class Y		1.0
The Hartford Select SmallCap Value Fund, Class Y		1.7
The Hartford Short Duration Fund, Class Y		6.4
The Hartford Small Company Fund, Class Y		1.7
The Hartford Strategic Income Fund, Class Y		1.0
The Hartford Total Return Bond Fund, Class Y		8.2
The Hartford Value Fund, Class Y		11.3
Other Assets and Liabilities		0.1
Total		100.0	%

3

The Hartford Balanced Allocation Fund

Schedule of Investments
April 30, 2009 (Unaudited)
(000’s Omitted)

Shares or Principal Amount					Market Value ╪
AFFILIATED INVESTMENT COMPANIES — 98.3%
EQUITY FUNDS — 61.0%
	4,305	The Hartford Capital Appreciation Fund, Class Y			$	106,415
	3,846	The Hartford Capital Appreciation II Fund, Class Y•				34,422
	2,131	The Hartford Disciplined Equity Fund, Class Y				19,330
	831	The Hartford Dividend and Growth Fund, Class Y				11,366
	2,359	The Hartford Equity Income Fund, Class Y				21,298
	103	The Hartford Fundamental Growth Fund, Class Y•				786
	3,115	The Hartford Global Growth Fund, Class Y•				34,111
	812	The Hartford Growth Fund, Class Y•				9,812
	774	The Hartford Growth Opportunities Fund, Class Y•				13,964
	2,647	The Hartford International Opportunities Fund, Class Y				26,869
	2,027	The Hartford International Small Company Fund, Class Y				15,829
	647	The Hartford MidCap Fund, Class Y•				10,041
	1,056	The Hartford Select MidCap Value Fund, Class Y				6,643
	1,737	The Hartford Select SmallCap Value Fund, Class Y				11,515
	849	The Hartford Small Company Fund, Class Y				11,126
	9,467	The Hartford Value Fund, Class Y				76,304
		Total equity funds (cost $569,730)			$	409,831
FIXED INCOME FUNDS — 37.3%
	3,552	The Hartford Floating Rate Fund, Class Y			$	25,861
	483	The Hartford High Yield Fund, Class Y				2,760
	7,441	The Hartford Income Fund, Class Y				63,839
	5,047	The Hartford Inflation Plus Fund, Class Y				54,054
	4,725	The Hartford Short Duration Fund, Class Y				43,089
	846	The Hartford Strategic Income Fund, Class Y				6,529
	5,758	The Hartford Total Return Bond Fund, Class Y				55,337
		Total fixed income funds (cost $278,363)			$	251,469
		Total investments in affiliated investment companies (cost $848,093)			$	661,300
EXCHANGE TRADED FUNDS — 1.6%
	20	Powershares Emerging Markets Sovereign Debt Portfolio ETF			$	459
	171	SPDR DJ Wilshire International Real Estate ETF				4,258
	172	SPDR DJ Wilshire REIT ETF				5,963
		Total exchange traded funds (cost $12,990)			$	10,680
		Total long-term investments (cost $861,083)			$	671,980
SHORT-TERM INVESTMENTS — 0.0%
	3	State Street Bank Money Market Fund			$	3
		Total short-term investments (cost $3)			$	3
		Total investments (cost $861,086) ▲	99.9	%	$	671,983
		Other assets and liabilities	0.1	%		787
		Total net assets	100.0	%	$	672,770

Note:	Percentage of investments as shown is the ratio of the total market value to total net assets.
▲	At April 30, 2009, the cost of securities for federal income tax purposes was $862,095 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	3,611
Unrealized Depreciation		(193,723	)
Net Unrealized Depreciation	$	(190,112	)

•	Currently non-income producing.
╪	See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of securities.

FAS 157 Disclosure of Investment Valuation Hierarchy Levels

Assets:
Investment in securities — Level 1	$	671,983
Total	$	671,983

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

4

The Hartford Balanced Allocation Fund

Statement of Assets and Liabilities
April 30, 2009 (Unaudited)
(000’s Omitted)

Assets:
Investments in securities, at fair value (cost $12,993)	$	10,683
Investments in underlying affiliated funds, at fair value (cost $848,093)		661,300
Receivables:
Fund shares sold		1,059
Dividends and interest		780
Other assets		90
Total assets		673,912
Liabilities:
Payables:
Investment securities purchased		116
Fund shares redeemed		764
Investment management fees		15
Distribution fees		55
Accrued expenses		192
Total liabilities		1,142
Net assets	$	672,770
Summary of Net Assets:
Capital stock and paid-in-capital		922,259
Accumulated undistributed net investment income		382
Accumulated net realized loss on investments		(60,768	)
Unrealized depreciation of investments		(189,103	)
Net assets	$	672,770
Shares authorized		500,000
Par value	$	0.001
Class A: Net asset value per share/Maximum offering price per share	$	8.36/$8.84
Shares outstanding		50,363
Net assets	$	420,901
Class B: Net asset value per share	$	8.34
Shares outstanding		10,148
Net assets	$	84,583
Class C: Net asset value per share	$	8.33
Shares outstanding		17,438
Net assets	$	145,271
Class I: Net asset value per share	$	8.35
Shares outstanding		145
Net assets	$	1,214
Class R3: Net asset value per share	$	8.33
Shares outstanding		44
Net assets	$	366
Class R4: Net asset value per share	$	8.35
Shares outstanding		1,302
Net assets	$	10,877
Class R5: Net asset value per share	$	8.36
Shares outstanding		1,144
Net assets	$	9,558

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

5

The Hartford Balanced Allocation Fund

Statement of Operations
For the Six Month Period Ended April 30, 2009 (Unaudited)
(000’s Omitted)

Investment Income:
Dividends	$	197
Dividends from underlying affiliated funds		12,213
Total investment income		12,410
Expenses:
Investment management fees		447
Transfer agent fees		505
Distribution fees
Class A		504
Class B		412
Class C		710
Class R3		1
Class R4		12
Custodian fees		—
Accounting services		39
Registration and filing fees		65
Board of Directors’ fees		7
Audit fees		11
Other expenses		146
Total expenses (before waivers)		2,859
Expense waivers		(34	)
Total waivers		(34	)
Total expenses, net		2,825
Net investment income		9,585
Net Realized Loss on Investments:
Net realized loss on investments in underlying affiliated funds		(45,686	)
Net Realized Loss on Investments		(45,686	)
Net Changes in Unrealized Appreciation of Investments:
Net unrealized appreciation of investments		33,384
Net Changes in Unrealized Appreciation of Investments		33,384
Net Loss on Investments		(12,302	)
Net Decrease in Net Assets Resulting from Operations	$	(2,717	)

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

6

The Hartford Balanced Allocation Fund

Statement of Changes in Net Assets

(000’s Omitted)

	For the Six-Month
	Period Ended			For the
	April 30, 2009			Year Ended
	(Unaudited)			October 31, 2008
Operations:
Net investment income	$	9,585		$	18,094
Net realized gain (loss) on investments		(45,686	)		3,302
Net unrealized appreciation (depreciation) of investments		33,384			(325,274	)
Net decrease in net assets resulting from operations		(2,717	)		(303,878	)
Distributions to Shareholders:
From net investment income
Class A		(6,997	)		(24,256	)
Class B		(1,094	)		(4,239	)
Class C		(1,904	)		(7,330	)
Class I		(28	)		(81	)
Class R3		(4	)		(12	)
Class R4		(165	)		(198	)
Class R5		(124	)		(87	)
From net realized gain on investments
Class A		—			(26,813	)
Class B		—			(5,971	)
Class C		—			(9,928	)
Class I		—			(40	)
Class R3		—			(5	)
Class R4		—			(145	)
Class R5		—			(32	)
Total distributions		(10,316	)		(79,137	)
Capital Share Transactions:
Class A		(11,116	)		70,044
Class B		(6,412	)		8,431
Class C		(11,555	)		22,711
Class I		(969	)		2,197
Class R3		5			511
Class R4		2,486			8,935
Class R5		5,147			4,818
Net increase (decrease) from capital share transactions		(22,414	)		117,647
Net decrease in net assets		(35,447	)		(265,368	)
Net Assets:
Beginning of period		708,217			973,585
End of period	$	672,770		$	708,217
Accumulated undistributed (distribution in excess of) net investment income (loss)	$	382		$	1,113

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

7

The Hartford Balanced Allocation Fund

Notes to Financial Statements
April 30, 2009 (Unaudited)
(000’s Omitted)

1.	Organization:
	The Hartford Mutual Funds, Inc. (“Company”) is an open-end management investment company comprised of fifty-two portfolios. Financial statements for The Hartford Balanced Allocation Fund (the “Fund”), a series of the Company, are included in this report.
	The Company is organized under the laws of the State of Maryland and is registered with the Securities and Exchange Commission (“SEC”) under the Investment Company Act of 1940, as amended (“1940 Act”). The Fund is a diversified open-end management investment company.
	Class A shares are sold with a front-end sales charge of up to 5.50%. Class B shares are sold with a contingent deferred sales charge which is assessed on the lesser of the per share net asset value (“NAV”) of the shares at the time of redemption or the original purchase price, and declines from up to 5.00% to zero depending on the period of time the shares are held. Class C shares are sold with a contingent deferred sales charge of up to 1.00% on shares redeemed within twelve months of purchase. Class I shares are sold without sales charges to certain eligible investors through advisory fee-based wrap programs. Classes R3, R4 and R5 shares, which are offered to employer-sponsored retirement plans, are sold without a sales charge. All classes of shares have identical voting, redemption, dividend, liquidation and other rights and the same terms and conditions, with the exceptions that each class may have different expenses, which may affect performance, and except that Class B shares automatically convert to Class A shares after 8 years.
	The Fund, as a “Fund of Funds”, invests the majority of its assets in Class Y shares of other Hartford mutual funds (“Underlying Funds”) as well as certain exchange-traded funds (“ETFs”). The Fund seeks its investment goals through implementation of a strategic asset allocation recommendation provided by Hartford Investment Management Company (“Hartford Investment Management”), a wholly-owned subsidiary of The Hartford Financial Services Group, Inc. (“The Hartford”).
	Effective at the close of business on September 30, 2009 (the “Close Date”), no new or additional investments will be allowed in Class B shares of The Hartford Mutual Funds (including investments through any systematic investment plan). After the Close Date, existing shareholders of Class B shares may continue to hold their Class B shares, exchange their Class B shares for Class B shares of another Hartford Mutual Fund (as permitted by existing exchange privileges), and redeem their Class B shares as described in the Fund’s prospectus. Reinstatement privileges with respect to Class B shares will continue under the current policy. If you have chosen to reinvest capital gains and dividends, any such capital gains or dividends on Class B shares will continue to be reinvested in Class B shares of the applicable fund. For Class B shares outstanding as of the Close Date, all Class B share attributes, including the 12b-1 fee, contingent deferred sales charge schedule, and conversion to Class A shares remain unchanged.
2.	Significant Accounting Policies:
	The accounting policies of the affiliated underlying funds are outlined in the shareholder reports for such funds, available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov. The reports may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330. The affiliated Underlying Funds are not covered by this report.
	The following is a summary of significant accounting policies of the Fund, which are in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”).

a) Security Transactions and Investment Income - Security transactions are recorded on the trade date (the date the order to buy or sell is executed). Security gains and losses are determined on the basis of identified cost.

8

Dividend income is accrued as of the ex-dividend date. Income and capital gain distributions from Underlying Funds are recorded on the ex-dividend date.

b)	Security Valuation - Investments in open-end mutual funds are valued at the respective NAV of each open-end mutual fund on the valuation date.
	The Fund generally uses market prices in valuing portfolio securities. If market prices are not readily available or are deemed unreliable, the Fund will use the fair value of the security as determined in good faith under policies and procedures established by and under the supervision of the Fund’s Board of Directors. Market prices may be deemed unreliable, for example, if a security is thinly traded or if an event has occurred after the close of the security’s primary markets, but before the close of the New York Stock Exchange (the “Exchange”) (normally 4:00 p.m. Eastern Time, referred to as the “Valuation Time”) that is expected to affect the value of the portfolio security. The circumstances in which the Fund may use fair value pricing include, among others: (i) the occurrence of events that are significant to a particular issuer, such as mergers, restructuring or defaults; (ii) the occurrence of events that are significant to an entire market, such as natural disasters in a particular region or governmental actions; (iii) trading restrictions on securities; (iv) thinly traded securities and (v) market events such as trading halts and early market closings. In addition, with respect to the valuation of stocks primarily traded on foreign markets, the Fund uses a fair value pricing service approved by the Fund’s Board of Directors, which employs quantitative models that evaluate changes in the value of foreign market proxies (e.g., futures contracts, ADR’s, exchange traded funds (“ETF’s”)) after the close of the foreign markets but before the close of the Exchange. Securities that are primarily traded on foreign markets may trade on days that are not business days of the Fund. The value of the foreign securities in which the Fund invests may change on days when a shareholder will not be able to purchase or redeem shares of the Fund. Fair value pricing is subjective in nature and the use of fair value pricing by the Fund may cause the NAV of its shares to differ significantly from the NAV that would have been calculated using market prices at the close of the exchange on which a portfolio security is primarily traded but before the close of the Exchange. There can be no assurance that the Fund could obtain the fair value assigned to a security if the Fund were to sell the security at approximately the time at which the Fund determines its NAV.
	Debt securities (other than short-term obligations and senior floating rate interests) held by the Fund are valued on the basis of valuations furnished by an independent pricing service which determines valuations for normal institutional size trading units of debt securities. Senior floating rate interests generally trade in over-the-counter markets and are priced through an independent pricing service utilizing independent market quotations from loan dealers or financial institutions. Securities for which prices are not available from an independent pricing service are valued using market quotations obtained from one or more dealers that make markets in the securities in accordance with procedures established by the Fund’s Board of Directors. Generally, the Fund may use fair valuation in regard to debt securities when the Fund holds defaulted or distressed securities or securities in a company in which a reorganization is pending. Short-term investments with a maturity of more than 60 days when purchased are valued based on market quotations until the remaining days to maturity become less than 61 days. Investments that mature in 60 days or less are valued at amortized cost, which approximates market value.
	Exchange traded equity securities shall be valued at the last reported sale price on the exchange or market on which the security is primarily traded (the “Primary Market”) at the Valuation Time. If the security did not trade on the Primary Market, it may be valued at the Valuation Time at the last reported sale price on another exchange where it trades. The value of an equity security not traded on any exchange but traded on the Nasdaq Stock Market, Inc. (“Nasdaq”) or another over-the-counter market shall be valued at the last reported sale price or official closing price on the exchange or market on which the security is traded as of the Valuation Time. If it is not possible to determine the last reported sale price or official closing price on the relevant exchange or market at the Valuation Time, the value of the security shall be taken to be the most recent mean between bid and asked prices on such exchange or market at the Valuation Time.
	Securities of foreign issuers and non-dollar securities are translated from the local currency into U.S. dollars using prevailing exchange rates.

9

The Hartford Balanced Allocation Fund

Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

	Options contracts on securities, currencies, indexes, futures contracts, commodities and other instruments shall be valued at their most recent sales price at the Valuation Time on the Primary Market on which the instrument is primarily traded. If the instrument did not trade on the Primary Market, it may be valued at the most recent sales price at the Valuation Time on another exchange or market where it did trade.
	Futures contracts are valued at the most recent settlement price reported by an exchange on which, over time, they are traded most extensively. If a settlement price is not available, futures contracts will be valued at the most recent trade price as of the Valuation Time. If there were no trades, the contract shall be valued at the mean of the closing bid/ask prices as of the Valuation Time.
	Financial instruments for which prices are not available from an independent pricing service are valued using market quotations obtained from one or more dealers that make markets in securities in accordance with procedures established by the Fund’s Board of Directors.
	A forward currency contract shall be valued based on the price of the underlying currency at the prevailing interpolated exchange rate, which is a combination of the spot currency rate and the forward currency rate. Spot currency rates and forward currency rates are obtained from an independent pricing service on a daily basis not more than one hour before the Valuation Time.
	Swaps are valued based on custom valuations furnished by an independent pricing service. Swaps for which prices are not available from an independent pricing service are valued in accordance with procedures established by the Fund’s Board of Directors.
	Other derivative or contractual type instruments shall be valued using market prices if such instruments trade on an exchange or market. If such instruments do not trade on an exchange or market, such instruments shall be valued at a price at which the counterparty to such contract would repurchase the instrument. In the event that the counterparty cannot provide a price, such valuation may be determined in accordance with procedures established by the Fund’s Board of Directors.
c)	Indexed Securities — The Fund may invest in indexed securities whose values are linked to changes in interest rates, indices, or other underlying instruments. The Fund uses these securities to increase or decrease its exposure to different underlying instruments and to gain exposure to markets that might be difficult to invest in using conventional securities. Indexed securities may be more volatile than their underlying instruments, but any loss is limited to the amount of the original investment and there may be a limit to the potential appreciation of the investment. The Fund had investments in indexed securities as of April 30, 2009, as shown on the Schedule of Investments under Exchange Traded Funds.
d)	Fund Share Valuation and Dividend Distributions to Shareholders — Orders for the Fund’s shares are executed in accordance with the investment instructions of the shareholders. The NAV of the Fund’s shares is determined as of the close of each business day of the Exchange. The NAV is determined separately for each class of the Fund by dividing the Fund’s net assets attributable to that class by the number of shares of the class outstanding. Orders for the purchase of the Fund’s shares prior to the close of the Exchange on any day on which the Exchange is open for business are priced at the NAV determined as of the close of the Exchange. Orders after the close of the Exchange, or on a day on which the Exchange and/or the Fund is not open for business, are priced at the next determined NAV.
	The Fund intends to distribute substantially all of its net investment income and net realized capital gains to shareholders no less frequently than once a year. Normally, dividends from net investment income of the Fund are declared and paid quarterly. Dividends are paid on shares beginning on the business day after the day when the funds used to purchase the shares are collected by the transfer agent for the Fund. Long-term capital gains distributions received from underlying funds are distributed at least annually, when required. Unless shareholders specify otherwise, all dividends and distributions will be automatically reinvested in additional full or fractional shares of the Fund.

10

	Distributions from net investment income, realized capital gains and capital are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP with respect to character and timing. These differences include but are not limited to foreign currency gains and losses, losses deferred due to wash sales adjustments, adjustments related to Passive Foreign Investment Companies and certain derivatives, and excise tax regulations. Permanent book and federal income tax basis differences relating to shareholder distributions will result in reclassifications to certain of the Fund’s capital accounts (see Federal Income Taxes: Reclassification of Capital Accounts footnote).
e)	Use of Estimates — The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and the reported amounts of income and expenses during the period. Operating results in the future could vary from the amounts derived from management’s estimates.
f)	Financial Accounting Standards Board Financial Accounting Standards No. 157 — Effective November 1, 2008, the Fund adopted Financial Accounting Standards Board (“FASB”) Statement of Financial Accounting Standards No. 157, “Fair Value Measurements” (“FAS 157”). This standard clarifies the definition of fair value for financial reporting, establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements. Fair value is defined under FAS 157 as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Under FAS 157, a fair value measurement should reflect all of the assumptions that market participants would use in pricing the asset or liability, including assumptions about the risk inherent in a particular valuation technique, the effect of a restriction on the sale or use of an asset, and the risk of nonperformance.
	Various inputs are used in determining the value of the Fund’s investment. These inputs are summarized, per FAS 157, into three broad hierarchy levels. This hierarchy is based on whether the valuation inputs are observable or unobservable. These levels are:

• Level 1 — Quoted prices in active markets for identical securities. Level 1 includes exchange-traded instruments such as domestic equities, some foreign equities, options, futures, mutual funds, ETF’s, and rights and warrants.

• Level 2 — Observable inputs other than Level 1 prices, such as quoted prices for similar securities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the security. Level 2 includes debt securities that are traded less frequently than exchange-traded instruments and that are valued using third party pricing services and foreign equities, whose value is determined using a multi- factor regression model with inputs that are observable in the market; and money market instruments, which are carried at amortized cost.

• Level 3 — Significant unobservable inputs that are supported by little or no market activity. Level 3 includes financial instruments whose values are determined using broker quotes and require significant management judgment or estimation. This category includes broker quoted securities, long dated OTC options and securities where trading has been halted or there are certain restrictions on trading. While these securities are priced using unobservable inputs, the valuation of these securities reflects the best available data and management believes the prices are a good representation of exit price.

Individual securities within any of the above mentioned asset classes may be assigned a different hierarchical level than those presented above, as individual circumstances dictate.

FAS 157 also requires that a roll forward reconciliation be shown for all Level 3 securities from the beginning of the reporting period to the end of the reporting period. Part of this reconciliation includes transfers in and/or out of Level 3. For purposes of this reconciliation, transfers in are shown at the end of period fair value and transfers out are shown at the beginning of period fair value. During the six-month period ended April 30, 2009, the Fund held no Level 3 securities.

11

The Hartford Balanced Allocation Fund

Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

	FASB Staff Position No. 157-4 - In April 2009, FASB released FASB Staff Position No. 157-4, “Determining Fair Value When the Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly” (“FSP FAS 157-4”). FSP FAS 157-4 provides additional guidance on determining whether a market for a financial asset is not active and a transaction is not distressed when measuring fair value under FAS 157. The FSP also requires additional disclosure detail on debt and equity securities by major investment categories. FSP FAS 157-4 is effective for interim and annual periods ending after June 15, 2009. At this time, management is evaluating the implications of FSP FAS 157-4 and does not believe it will impact valuation but will require additional disclosure. This additional disclosure has not yet been implemented.
g)	Financial Accounting Standards Board Financial Accounting Standards No. 161 - In March 2008, the FASB released Statement of Financial Accounting Standards No. 161, “Disclosures about Derivative Instruments and Hedging Activities” (“FAS 161”). FAS 161 requires companies to disclose information detailing the objectives and strategies for using derivative instruments, the level of derivative activity entered into by the company and any credit risk-related contingent features of the agreements. The application of FAS 161 is required for fiscal years and interim periods beginning after November 15, 2008. At this time, management is evaluating the implications of FAS 161 and has not yet implemented the new disclosure standard.
h)	Indemnifications: Under the Company’s organizational documents, the Company shall indemnify its officers and directors to the full extent required or permitted under Maryland General Corporation Law and the federal securities law. In addition, the Company, on behalf of the Fund, may enter into contracts that contain a variety of indemnifications. The Company’s maximum exposure under these arrangements is unknown. However, the Company has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote.

3. Federal Income Taxes:

a)

Federal Income Taxes - For federal income tax purposes, the Fund intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code (“IRC”) by distributing substantially all of its taxable net investment income and net realized capital gains to its shareholders and otherwise complying with the requirements of regulated investment companies. The Fund has distributed substantially all of its income and capital gains in prior years and the Fund intends to distribute substantially all of its income and gains during the calendar year ending December 31, 2009. Accordingly, no provision for federal income or excise taxes has been made in the accompanying financial statements. Distributions from short-term capital gains are treated as ordinary income distributions for federal income tax purposes.

b)

The tax character of distributions paid by the Fund for the periods indicated is as follows (as adjusted for dividends payable):

	For the Year Ended		For the Year Ended
	October 31, 2008		October 31, 2007
Ordinary Income	$	38,476	$	22,740
Long-Term Capital Gains *		40,661		16,040

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

12

As of October 31, 2008, the Fund’s components of distributable earnings (deficit) on a tax basis were as follows:

	Amount
Undistributed Ordinary Income	$	1,113
Accumulated Capital Losses*	$	(14,074	)
Unrealized Depreciation†	$	(223,495	)
Total Accumulated Deficit	$	(236,456	)

*	The Fund has capital loss carryforwards that are identified in the Capital Loss Carryforward note that follows.
†	The differences between book-basis and tax-basis unrealized appreciation (depreciation) are attributable to the tax deferral of wash sales losses, the mark-to-market adjustment for certain derivatives in accordance with IRC Sec. 1256, the mark to market for Passive Foreign Investment Companies and basis differences in real estate investment trusts.

c)

Reclassification of Capital Accounts - In accordance with American Institute of Certified Public Accountants (AICPA) Statement of Position 93-2, Determination, Disclosure, and Financial Statement Presentation of Income, Capital Gain, and Return of Capital Distributions by Investment Companies, the Fund has recorded reclassifications in its capital accounts. These reclassifications had no impact on the NAV of the Fund. The reclassifications are a result of permanent differences between GAAP and tax accounting for such items as net operating losses that reduce distribution requirements. Adjustments are made to reflect the impact these items have on current and future distributions to shareholders. Therefore, the source of the Fund’s distributions may be shown in the accompanying Statement of Changes in Net Assets as from net investment income, from net realized gains on investments or from capital depending on the type of book and tax differences that exist. As of October 31, 2008, the Fund recorded reclassifications to increase undistributed net investment income by $18,029 and decrease accumulated net realized loss by $18,029.

d)

Capital Loss Carryforward - At October 31, 2008 (tax-year-end), the Fund had capital loss carryforwards for U.S. federal income tax purposes of approximately:

Year	Amount
2016	$	14,074
Total	$	14,074

e) Financial Accounting Standards Board Interpretation No. 48 - On July 13, 2006, the FASB released FASB Interpretation No. 48 “Accounting for Uncertainty in Income Taxes” (“FIN 48”). FIN 48 provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. The Fund adopted FIN 48 for fiscal years beginning after December 15, 2006. Management has evaluated the implications of FIN 48 for all open tax years (tax years ended October 31, 2006 — 2008) and has determined there is no impact to the Fund’s financial statements.

4. Expenses:

a) Investment Management Agreements - Hartford Investment Financial Services, LLC (“HIFSCO”) serves as investment manager to the Fund pursuant to an Investment Management Agreement with The Hartford Mutual Funds, Inc. As investment manager, HIFSCO has overall investment supervisory responsibility for the Fund. In addition, HIFSCO provides administrative personnel, services, equipment, facilities and office space for proper operation of the Fund. HIFSCO has contracted with Hartford Investment Management for the provision of day-to-day investment management services to the Fund in accordance with the Fund’s investment objective and policies. The Fund pays a fee to HIFSCO, a portion of which may be used to compensate Hartford Investment Management.

13

The Hartford Balanced Allocation Fund

Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

The schedule below reflects the rates of compensation paid to HIFSCO for investment management services rendered during the six-month period ended April 30, 2009; the rates are accrued daily and paid monthly:

Average Daily Net Assets	Annual Fee
On first $500 million		0.15	%
On next $4.5 billion		0.10	%
On next $5 billion		0.08	%
Over $10 billion		0.07	%

b) Accounting Services Agreement — Pursuant to the Fund Accounting Agreement between Hartford Life Insurance Company (“HLIC”) and the Fund, HLIC provides accounting services to the Fund and receives monthly compensation on the Fund’s average net assets. The Fund’s accounting service fees are accrued daily and paid monthly.

Average Daily Net Assets	Annual Fee
On first $5 billion		0.012	%
Over $5 billion		0.010	%

c) Operating Expenses - Allocable expenses incurred by the Company are allocated to each Fund and allocated to classes within the Fund in proportion to the average daily net assets of the Fund and each class, except where allocation of certain expenses is more fairly made directly to the Fund or to specific classes within a Fund. During the six-month period ended April 30, 2009, HIFSCO has contractually limited the total operating expenses of this Fund, exclusive of taxes, interest expense, brokerage commissions, certain distribution expenses and extraordinary expenses as follows:

Class A	Class B	Class C	Class I	Class R3	Class R4	Class R5
1.40%	2.15%	2.15%	1.15%	1.78%	1.48%	1.18%

	Voluntary limitations for total operating expenses include expenses incurred as the result of investing in other investment companies. Amounts incurred which exceed the above limits are deducted from expenses and are reported as waivers on the accompanying Statement of Operations.
d)	Distribution and Service Plan for Class A, B, C, R3 and R4 Shares - HIFSCO is the principal underwriter and distributor of the Fund. HIFSCO is engaged in distribution activities, which include marketing and distribution of shares through broker-dealers, financing distribution costs and maintaining financial books and records. For the six- month period ended April 30, 2009, HIFSCO received front-end load sales charges of $1,002 and contingent deferred sales charges of $200 from the Fund.
	The Fund has adopted Distribution and Service Plans in accordance with Rule 12b-1 of the Investment Company Act of 1940, as amended, to compensate the distributor (HIFSCO) for activities intended to result in the sale and distribution of Classes A, B, C, R3 and R4 shares and for providing services for shareholders. The Rule 12b-1 plan applicable to Class A shares of the Funds provides for payment of a Rule 12b-1 fee of up to 0.35% of average daily net assets; however, the Board of Directors has currently authorized 12b-1 payments of only up to 0.25%. Some or all of the fee may be used for shareholder servicing expenses with the remainder used for distribution expenses. Some or the entire Rule 12b-1 fee for Class B shares may be remitted to broker-dealers for distribution and/or shareholder account services. Under the Class B Plan, the Fund pays the distributor 1.00% of the average daily net assets of Class B shares that are outstanding for 8 years or less, 0.25% of which is a fee for services provided to existing shareholders with the remainder used for distribution expenses. After eight years, Class B shares convert to Class A shares. Upon conversion to Class A shares, the Class A plan described above will apply to those shares. Under the Class C Plan, the Fund pays the distributor 1.00% of the average daily net assets of Class C shares outstanding, 0.25% of which is intended as a fee for services provided to existing shareholders with the remainder used for distribution expenses. For Class C shares, some or the entire fee may be remitted to broker-dealers for distribution and/or shareholder account services. Class R3 shares have a distribution fee of 0.50% and Class R4 shares have a distribution fee of 0.25%. For Classes R3 and R4 shares, some or the entire fee may be remitted to broker dealers for distribution and/or shareholder account services. The Fund’s 12b-1 fees are accrued daily and paid monthly.

14

For the six-month period ended April 30, 2009, total sales commissions paid to affiliated brokers/dealers of The Hartford for distributing the Fund’s shares were $36. These commissions are in turn paid to sales representatives of the broker/dealers.

e)

Other Related Party Transactions - Certain officers of the Fund are directors and/or officers of HIFSCO and/or The Hartford or its subsidiaries. For the six-month period ended April 30, 2009, a portion of the Fund’s chief compliance officer’s salary was paid by the Fund in the amount of $1. Hartford Administrative Services Company (“HASCO”), an indirect wholly owned subsidiary of The Hartford, provides transfer agent services to the Fund. HASCO was compensated $507 for providing such services. These fees are accrued daily and paid monthly.

5. Investment Transactions:

For the six-month period ended April 30, 2009, the Fund’s aggregate purchases and sales of investment securities (excluding short-term investments) were as follows:

	Amount
Cost of Purchases Excluding U.S. Government Obligations	$	77,495
Sales Proceeds Excluding U.S. Government Obligations		100,055

6.	Capital Share Transactions:
	The following information is for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	For the Six-Month Period Ended April 30, 2009												For the Year Ended October 31, 2008
			Shares					Shares							Shares					Shares
			Issued for					Issued		Net Increase					Issued for					Issued		Net Increase
	Shares		Reinvested		Shares			from		(Decrease) of			Shares		Reinvested		Shares			from		(Decrease) of
	Sold		Dividends		Redeemed			Merger		Shares			Sold		Dividends		Redeemed			Merger		Shares
Class A
Shares		7,338		854		(9,735	)		—		(1,543	)		14,186		4,158		(12,888	)		—		5,456
Amount	$	58,023	$	6,743	$	(75,882	)	$	—	$	(11,116	)	$	158,195	$	49,061	$	(137,212	)	$	—	$	70,044
Class B
Shares		802		132		(1,769	)		—		(835	)		2,209		811		(2,413	)		—		607
Amount	$	6,288	$	1,041	$	(13,741	)	$	—	$	(6,412	)	$	24,579	$	9,630	$	(25,778	)	$	—	$	8,431
Class C
Shares		1,991		211		(3,724	)		—		(1,522	)		5,758		1,236		(5,278	)		—		1,716
Amount	$	15,704	$	1,659	$	(28,918	)	$	—	$	(11,555	)	$	64,145	$	14,655	$	(56,089	)	$	—	$	22,711
Class I
Shares		34		3		(156	)		—		(119	)		259		8		(74	)		—		193
Amount	$	268	$	28	$	(1,265	)	$	—	$	(969	)	$	2,909	$	96	$	(808	)	$	—	$	2,197
Class R3
Shares		24		1		(23	)		—		2			160		1		(128	)		—		33
Amount	$	186	$	4	$	(185	)	$	—	$	5		$	1,774	$	12	$	(1,275	)	$	—	$	511
Class R4
Shares		567		21		(293	)		—		295			1,084		30		(312	)		—		802
Amount	$	4,541	$	165	$	(2,220	)	$	—	$	2,486		$	11,920	$	343	$	(3,328	)	$	—	$	8,935
Class R5
Shares		832		16		(192	)		—		656			552		11		(130	)		—		433
Amount	$	6,484	$	124	$	(1,461	)	$	—	$	5,147		$	6,087	$	119	$	(1,388	)	$	—	$	4,818

15

The Hartford Balanced Allocation Fund

Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

The following reflects the conversion of Class B Shares into Class A Shares (reflected as Class A Shares issued and Class B shares redeemed) for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	Shares		Dollars
For the Six-Month Period Ended April 30, 2009		91	$	715
For the Year Ended October 31, 2008		182	$	2,060

7.

Line of Credit:

The Fund is one of several Hartford Funds that participate in a $500 million committed revolving line of credit facility. The facility is to be used for temporary or emergency purposes. Under the arrangement, the Fund is required to own securities having a market value in excess of 300% of the total bank borrowings. The interest rate on borrowings varies depending on the nature of the loan. The facility also requires a fee to be paid based on the amount of the commitment. During the six-month period ended April 30, 2009, the Fund did not have any borrowings under this facility.

16

The Hartford Balanced Allocation Fund

Financial Highlights — (Unaudited)

	- Selected Per-Share Data - (a)																												- Ratios and Supplemental Data -
																																		Ratio of			Ratio of			Ratio of
																																		Expenses			Expenses			Expenses
																																		to Average			to Average			to Average
																																		Net Assets			Net Assets			Net Assets
																																		Before			After			After
							Net																											Waivers			Waivers			Waivers
							Realized																											and			and			and			Ratio of
							and Un-									Distrib-								Net										Reimburse-			Reimburse-			Reimburse-			Net
			Net		Pay-		realized						Dividends			utions								Increase			Net							ments and			ments and			ments and			Invest-			Port-
	Net Asset		Invest-		ments		Gain						from Net			from			Distri-					(Decrease)			Asset					Net Assets		Including			Including			Excluding			ment			folio
	Value at		ment		from		(Loss) on			Total from			Invest-			Realized			butions		Total			in Net			Value at					at End of		Expenses			Expenses			Expenses			Income to			Turn-
	Beginning		Income		(to)		Invest-			Investment			ment			Capital			from		Distri-			Asset			End of		Total			Period		not Subject			not Subject			not Subject			Average			over
Class	of Period		(Loss)		Affiliate		ments			Operations			Income			Gains			Capital		butions			Value			Period		Return(b)			(000’s)		to Cap(c)			to Cap(c)			to Cap(c)			Net Assets			Rate(d)
For the Six-Month Period Ended April 30, 2009 (Unaudited)
A	$	8 .48	$	0 .13	$	—	$	(0.11	)	$	0.02		$	(0.14	)	$	—		$	—	$	(0 .14	)	$	(0 .12	)	$	8 .36		0 .28	%(e)	$	420,901		0 .61	%(f)		0 .61	%(f)		0 .61	%(f)		3 .22	%(f)		12	%
B		8 .45		0 .10		—		(0 .11	)		(0 .01	)		(0 .10	)		—			—		(0 .10	)		(0 .11	)		8 .34		(0 .01	) (e)		84,583		1 .46	(f)		1 .38	(f)		1 .38	(f)		2 .46	(f)		—
C		8 .45		0 .10		—		(0 .12	)		(0 .02	)		(0 .10	)		—			—		(0 .10	)		(0 .12	)		8 .33		(0 .12	) (e)		145,271		1 .37	(f)		1 .37	(f)		1 .37	(f)		2 .48	(f)		—
I		8 .47		0 .18		—		(0 .15	)		0 .03			(0 .15	)		—			—		(0 .15	)		(0 .12	)		8 .35		0 .44	(e)		1,214		0 .29	(f)		0 .29	(f)		0 .29	(f)		4 .42	(f)		—
R3		8 .44		0 .11		—		(0 .11	)		—			(0 .11	)		—			—		(0 .11	)		(0 .11	)		8 .33		0 .12	(e)		366		1 .06	(f)		1 .01	(f)		1 .01	(f)		2 .69	(f)		—
R4		8 .47		0 .13		—		(0 .11	)		0 .02			(0 .14	)		—			—		(0 .14	)		(0 .12	)		8 .35		0 .29	(e)		10,877		0 .62	(f)		0 .62	(f)		0 .62	(f)		3 .11	(f)		—
R5		8 .48		0 .13		—		(0 .10	)		0 .03			(0 .15	)		—			—		(0 .15	)		(0 .12	)		8 .36		0 .44	(e)		9,558		0 .32	(f)		0 .32	(f)		0 .32	(f)		3 .25	(f)		—
For the Year Ended October 31, 2008
A		13 .10		0 .26		—		(3 .83	)		(3 .57	)		(0 .47	)		(0 .58	)		—		(1 .05	)		(4 .62	)		8 .48		(29 .35	)		439,955		0 .53			0 .53			0 .53			2 .23			18
B		13 .06		0 .16		—		(3 .81	)		(3 .65	)		(0 .38	)		(0 .58	)		—		(0 .96	)		(4 .61	)		8 .45		(29 .95	)		92,829		1 .35			1 .35			1 .35			1 .47			—
C		13 .06		0 .17		—		(3 .81	)		(3 .64	)		(0 .39	)		(0 .58	)		—		(0 .97	)		(4 .61	)		8 .45		(29 .91	)		160,167		1 .29			1 .29			1 .29			1 .49			—
I		13 .09		0 .33		—		(3 .86	)		(3 .53	)		(0 .51	)		(0 .58	)		—		(1 .09	)		(4 .62	)		8 .47		(29 .15	)		2,238		0 .22			0 .22			0 .22			1 .59			—
R3		13 .08		0 .26		—		(3 .88	)		(3 .62	)		(0 .44	)		(0 .58	)		—		(1 .02	)		(4 .64	)		8 .44		(29 .74	)		358		0 .92			0 .92			0 .92			0 .86			—
R4		13 .10		0 .38		—		(3 .96	)		(3 .58	)		(0 .47	)		(0 .58	)		—		(1 .05	)		(4 .63	)		8 .47		(29 .44	)		8,535		0 .59			0 .59			0 .59			1 .54			—
R5		13 .10		0 .41		—		(3 .95	)		(3 .54	)		(0 .50	)		(0 .58	)		—		(1 .08	)		(4 .62	)		8 .48		(29 .16	)		4,135		0 .29			0 .29			0 .29			1 .54			—
For the Year Ended October 31, 2007
A		12 .01		0 .27		—		1 .45			1 .72			(0 .36	)		(0 .27	)		—		(0 .63	)		1 .09			13 .10		14 .95			608,443		0 .54			0 .54			0 .54			2 .09			34
B		11 .98		0 .18		—		1 .44			1 .62			(0 .27	)		(0 .27	)		—		(0 .54	)		1 .08			13 .06		14 .03			135,541		1 .36			1 .33			1 .33			1 .34			—
C		11 .98		0 .18		—		1 .44			1 .62			(0 .27	)		(0 .27	)		—		(0 .54	)		1 .08			13 .06		14 .07			225,155		1 .29			1 .29			1 .29			1 .35			—
I		12 .00		0 .26		—		1 .50			1 .76			(0 .40	)		(0 .27	)		—		(0 .67	)		1 .09			13 .09		15 .35			927		0 .22			0 .22			0 .22			1 .88			—
R3(g)		11 .89		0 .08		—		1 .25			1 .33			(0 .14	)		—			—		(0 .14	)		1 .19			13 .08		11 .29	(e)		115		0 .93	(f)		0 .93	(f)		0 .93	(f)		0 .94	(f)		—
R4(h)		11 .89		0 .14		—		1 .23			1 .37			(0 .16	)		—			—		(0 .16	)		1 .21			13 .10		11 .61	(e)		2,679		0 .66	(f)		0 .66	(f)		0 .66	(f)		1 .23	(f)		—
R5(i)		11 .89		0 .14		—		1 .25			1 .39			(0 .18	)		—			—		(0 .18	)		1 .21			13 .10		11 .79	(e)		725		0 .36	(f)		0 .36	(f)		0 .36	(f)		1 .54	(f)		—
For the Year Ended October 31, 2006
A		10 .95		0 .18		—		1 .12			1 .30			(0 .22	)		(0 .02	)		—		(0 .24	)		1 .06			12 .01		11 .98			453,492		0 .62			0 .62			0 .62			1 .52			15
B		10 .92		0 .10		—		1 .11			1 .21			(0 .13	)		(0 .02	)		—		(0 .15	)		1 .06			11 .98		11 .22			109,117		1 .44			1 .36			1 .36			0 .82			—
C		10 .92		0 .11		—		1 .11			1 .22			(0 .14	)		(0 .02	)		—		(0 .16	)		1 .06			11 .98		11 .24			171,073		1 .38			1 .36			1 .36			0 .78			—
I(j)		11 .66		0 .05		—		0 .34			0 .39			(0 .05	)		—			—		(0 .05	)		0 .34			12 .00		3 .35	(e)		353		0 .39	(f)		0 .39	(f)		0 .39	(f)		1 .47	(f)		—
For the Year Ended October 31, 2005
A		10 .30		0 .13		—		0 .64			0 .77			(0 .12	)		—			—		(0 .12	)		0 .65			10 .95		7 .47			262,878		0 .66			0 .60			0 .60			1 .26			2
B		10 .28		0 .06		—		0 .62			0 .68			(0 .04	)		—			—		(0 .04	)		0 .64			10 .92		6 .66			72,619		1 .47			1 .31			1 .31			0 .55			—
C		10 .28		0 .06		—		0 .62			0 .68			(0 .04	)		—			—		(0 .04	)		0 .64			10 .92		6 .66			103,248		1 .41			1 .31			1 .31			0 .56			—
From (commencement of operations) May 28, 2004, through October 31, 2004
A(k)		10 .00		0 .02		—		0 .30			0 .32			(0 .02	)		—			—		(0 .02	)		0 .30			10 .30		3 .15	(e)		67,293		0 .62	(f)		0 .59	(f)		0 .59	(f)		0 .99	(f)		—
B(l)		10 .00		0 .01		—		0 .27			0 .28			—			—			—		—			0 .28			10 .28		2 .82	(e)		18,841		1 .45	(f)		1 .29	(f)		1 .29	(f)		0 .33	(f)		—
C(m)		10 .00		—		—		0 .28			0 .28			—			—			—		—			0 .28			10 .28		2 .82	(e)		30,414		1 .38	(f)		1 .29	(f)		1 .29	(f)		0 .30	(f)		—

(a)	Information presented relates to a share outstanding throughout the indicated period.
(b)	Assumes initial investment at net asset value at the beginning of each period, reinvestment of all distributions, the complete redemption of the investment at net asset value at the end of each period and no sales charge. Total return would be reduced if sales charges were taken into account.
(c)	Expense ratios do not include expenses of the underlying funds.
(d)	Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between the classes of shares issued.
(e)	Not annualized.
(f)	Annualized.
(g)	Commenced operations on December 22, 2006.
(h)	Commenced operations on December 22, 2006.
(i)	Commenced operations on December 22, 2006.
(j)	Commenced operations on August 31, 2006.
(k)	Commenced operations on May 28, 2004.
(l)	Commenced operations on May 28, 2004.
(m)	Commenced operations on May 28, 2004.

17

The Hartford Balanced Allocation Fund

Directors and Officers (Unaudited)

The Board of Directors appoints officers who are responsible for the day-to-day operations of the Fund and who execute policies formulated by the Directors. Each director serves until his or her death, resignation, or retirement or until the next annual meeting of shareholders is held or until his or her successor is elected and qualifies.

Directors and officers who are employed by or who have a financial interest in The Hartford are considered “interested” persons of the Fund pursuant to the Investment Company Act of 1940, as amended. Each officer and three of the Fund’s directors, as noted in the chart below, are “interested” persons of the Fund. Each director serves as a director for The Hartford Mutual Funds, Inc., The Hartford Mutual Funds II, Inc., The Hartford Income Shares Fund, Inc., Hartford Series Fund, Inc., and Hartford HLS Series Fund II, Inc., which collectively consist of 100 funds. Correspondence may be sent to directors and officers c/o Hartford Mutual Funds, P.O. Box 2999, Hartford, Connecticut 06104-2999, except that correspondence to Ms. Fagely may be sent to 500 Bielenberg Drive, Woodbury, Minnesota 55125.

The table below sets forth, for each director and officer, his or her name, year of birth, current position with the Fund and date first elected or appointed to The Hartford Mutual Funds, Inc. (“MF”) and The Hartford Mutual Funds II, Inc. (“MF2”), principal occupation, and, for directors, other directorships held. The Fund’s statement of additional information contains further information on the directors and is available free of charge by calling 1-888-843-7824 or writing to Hartford Mutual Funds, P.O. Box 64387, St. Paul, MN 55164-0387.

Information on the aggregate remuneration paid to the directors of the Fund can be found in the Statement of Operations herein. The Fund pays a portion of the Chief Compliance Officer’s compensation, but does not pay salaries or compensation to any of its officers or directors who are employed by The Hartford.

Non-Interested Directors

Lynn S. Birdsong (1946) Director since 2003, Co-Chairman of the Investment Committee

Mr. Birdsong is a private investor. Since 1981, Mr. Birdsong has been a partner in Birdsong Company, an advertising specialty firm. Since 2003, Mr. Birdsong has been an independent director of The Japan Fund. From 2003 to March 2005, Mr. Birdsong was an independent director of the Atlantic Whitehall Funds. From 1979 to 2002, Mr. Birdsong was a managing director of Zurich Scudder Investments, an investment management firm. During his employment with Scudder, Mr. Birdsong was an interested director of The Japan Fund.

Robert M. Gavin, Jr. (1940) Director since 2002 (MF) and 1986 (MF2), Chairman of the Board since 2004

Dr. Gavin is an educational consultant. Prior to September 1, 2001, he was President of Cranbrook Education Community and prior to July 1996, he was President of Macalester College, St. Paul, Minnesota.

Duane E. Hill (1945) Director since 2001 (MF) and 2002 (MF2), Chairman of the Nominating Committee

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

Sandra S. Jaffee (1941) Director since 2005

Ms. Jaffee is Chairman and Chief Executive Officer of Fortent (formerly Searchspace Group), a leading provider of compliance/regulatory technology to financial institutions. Ms. Jaffee served as an Entrepreneur in Residence with Warburg Pincus, a private equity firm, from August 2004 to August 2005. From September 1995 to July 2004, Ms. Jaffee served as Executive Vice President at Citigroup, where she was President and Chief Executive Officer of Citibank’s Global Securities Services (1995-2003).

William P. Johnston (1944) Director since 2005, Chairman of the Compliance Committee

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

18

Phillip O. Peterson (1944) Director since 2002 (MF) and 2000 (MF2), Chairman of the Audit Committee

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

Lemma W. Senbet (1946) Director since 2005

Dr. Senbet is the William E. Mayer Chair Professor of Finance at the University of Maryland, Robert H. Smith School of Business. He was chair of the Finance Department during 1998-2006. Previously he was an endowed professor of finance at the University of Wisconsin-Madison. Also, he was director of the Fortis Funds from March 2000-July 2002. Dr. Senbet served the finance profession in various capacities, including as director of the American Finance Association and President of the Western Finance Association. In 2006, Dr. Senbet was inducted Fellow of Financial Management Association International for his career-long distinguished scholarship and professional service.

Interested Directors and Officers

Thomas M. Marra* (1958) Director since 2002

Mr. Marra has served as President and Chief Operating Officer of The Hartford Financial Services Group, Inc. (“The Hartford”) since 2007. Mr. Marra currently serves as Director of Hartford Life, Inc. (“HL, Inc.”). Mr. Marra served as Chief Operating Officer of Hartford Life Insurance Company, Inc. (“Hartford Life”) (2000—2008), as President of Hartford Life (2002—2008) and as Director of Hartford Life’s Investment Products Division from 1998 to 2000.

*   On February 24, 2009, The Hartford and Mr. Marra determined to enter into a mutually agreed separation whereby Mr. Marra will retire, and his role as an executive officer and employee of The Hartford will terminate, effective July 3, 2009. Mr. Marra will resign his position as a Director of the Fund effective June 25, 2009.

Lowndes A. Smith (1939) Director since 2002, Co-Chairman of the Investment Committee

Mr. Smith served as Vice Chairman of The Hartford from February 1997 to January 2002, as President and Chief Executive Officer of Hartford Life, Inc. from February 1997 to January 2002, and as President and Chief Operating Officer of The Hartford Life Insurance Companies from January 1989 to January 2002. Mr. Smith serves as a Director of White Mountains Insurance Group, Ltd., One Beacon Insurance, Symetra Financial and as a Managing Director of Whittington Gray Associates.

John C. Walters* (1962) Director since 2008

Mr. Walters currently serves as Chief Executive Officer, President and Director of HL, Inc. Mr. Walters previously served as President of the U.S. Wealth Management Division of Hartford Life, Inc., as Co-Chief Operating Officer of Hartford Life Insurance Company (2007—2008) and as Executive Vice President and Director of its Investment Products Division (2000—2008). Mr. Walters also serves as Chairman of the Board, Chief Executive Officer, President and Director of Hartford Life Insurance Company and as Executive Vice President of The Hartford. In addition, Mr. Walters is Manager of HL Investment Advisors, LLC (“HL Advisors”).

*   Mr. Walters previously served as President and Chief Executive Officer of the Fund (2007 — 2009).

Other Officers

Robert M. Arena, Jr. (1968) President and Chief Executive Officer since 2009 (served as Vice President of the Fund (2006 — 2009)) Mr. Arena serves as Executive Vice President of Hartford Life Insurance Company, (“Hartford Life”). Additionally, Mr. Arena is Director and Senior Vice President of Hartford Administrative Services Company, (“HASCO”), Manager, Chief Executive Officer and President of Hartford Investment Financial Services, LLC (“HIFSCO”) and HL Advisors. Prior to joining The Hartford in 2004, he was Senior Vice President in charge of Product Management for American Skandia/Prudential in the individual annuities division. Mr. Arena joined American Skandia in 1996.

Tamara L. Fagely (1958) Vice President, Treasurer and Controller since 2002 (MF) 1993 (MF2)

Ms. Fagely has been a Vice President of HASCO since 1998 and Chief Financial Officer since 2006. Currently Ms. Fagely is a Vice President of Hartford Life. She served as Assistant Vice President of Hartford Life from December 2001 through March 2005. In addition, Ms. Fagely is Controller and Chief Financial Officer of HIFSCO.

Brian Ferrell (1962) AML Compliance Officer since 2008

Mr. Ferrell has served as Assistant Vice President and AML Compliance Officer for The Hartford since 2006 and as AML Compliance Officer for HASCO and Hartford Investor Services Company, LLC (“HISC”) since 2008. Prior to joining The Hartford in 2006, Mr. Ferrell held various positions at the U.S. Department of the Treasury, (the “Treasury”), from 2001 to 2006 where he served as Chief Counsel for the Treasury’s Financial Crimes Enforcement Network, (“FinCEN”) from 2005 — 2006.

19

The Hartford Balanced Allocation Fund

Directors and Officers (Unaudited) — (continued)

Thomas D. Jones, III (1965) Vice President and Chief Compliance Officer since 2006

Mr. Jones serves as Chief Compliance Officer for the Hartford Mutual Funds and Vice President and Director of Securities Compliance for The Hartford. He is also Vice President of HIFSCO, HL Advisors, and Hartford Life Insurance Company. Mr. Jones joined The Hartford in 2006 from SEI Investments, where he served as Chief Compliance Officer for its mutual funds and investment advisers. Prior to joining SEI, Mr. Jones was First Vice President and Compliance Director for Merrill Lynch Investment Managers (Americas) (“MLIM”), where he worked from 1992-2004. At MLIM, Mr. Jones was responsible for the compliance oversight of various investment products, including mutual funds, wrap accounts, institutional accounts and alternative investments.

Edward P. Macdonald (1967) Vice President, Secretary and Chief Legal Officer since 2005

Mr. Macdonald serves as Assistant General Counsel and Assistant Vice President of The Hartford and Chief Legal Officer and Vice President of HIFSCO. He also serves as Vice President and Secretary of HASCO, Assistant Vice President of Hartford Life, and Chief Legal Officer, Secretary and Vice President of HL Advisors. Prior to joining The Hartford in 2005, Mr. Macdonald was Chief Counsel, Investment Management for Prudential Financial (formerly American Skandia Investment Services, Inc.). He joined Prudential in April 1999.

Vernon J. Meyer (1964) Vice President since 2006

Mr. Meyer serves as Senior Vice President of Hartford Life and as Director of its Investment Advisory Group in the Individual Markets Group segment. He also serves as Senior Vice President of HIFSCO and HL Advisors. Prior to joining The Hartford in 2004, Mr. Meyer was with MassMutual which he joined in 1987.

D. Keith Sloane (1960) Vice President since 2009

Mr. Sloane is a Senior Vice President of Hartford Life where he serves as Director of mutual fund product management for The Hartford’s mutual funds and 529 college savings businesses. Additionally, Mr. Sloane currently serves as Senior Vice President of HIFSCO, HL Advisors, and HASCO. Prior to joining The Hartford in 2007, Mr. Sloane was Director of product marketing and led the mutual fund business for Wachovia Securities (“Wachovia”) in their investment products group. Mr. Sloane joined Wachovia in 1995.

Jane Wolak (1961) Vice President since 2009

Ms. Wolak currently serves as Vice President of Hartford Life. Ms. Wolak joined Hartford Life as Vice President, Retail Product Services in May 2007. She is also Vice President of HASCO. Previously, Ms. Wolak was with Sun Life Financial where she held the position of Vice President, Service Center Operations from 2001 — 2007.

HOW TO OBTAIN A COPY OF THE FUND’S PROXY VOTING POLICIES AND VOTING RECORDS

A description of the policies and procedures that the Fund uses to determine how to vote proxies relating to portfolio securities and a record of how the Fund voted any proxies for the twelve-month period ended June 30, 2008 is available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov.

QUARTERLY PORTFOLIO HOLDINGS INFORMATION

The Fund files a complete schedule of portfolio holdings with the Commission for the first and third quarters of each fiscal year on Form N-Q. The Fund’s Forms are available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov. The Form N-Q may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330.

20

The Hartford Balanced Allocation Fund

Expense Example (Unaudited)

Your Fund’s Expenses

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments and contingent deferred sales charges (CDSC) (2) ongoing costs including management fees; distribution fees; and other fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the period of October 31, 2008 through April 30, 2009.

Actual Expenses

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

Hypothetical Example for Comparison Purposes

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

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads) and CDSC. Therefore, the second line 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 are equal to the Fund’s annualized expense ratios multiplied by average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

	Actual return						Hypothetical (5% return before expenses)
					Expenses paid						Expenses paid					Days in
					during the period						during the period					the		Days
	Beginning		Ending Account		October 31, 2008		Beginning		Ending Account		October 31,		Annualized			current		in the
	Account Value		Value		through		Account Value		Value		2008 through		expense			1/2		full
	October 31, 2008		April 30, 2009		April 30, 2009		October 31, 2008		April 30, 2009		April 30, 2009		ratio			year		year
Class A	$	1,000.00	$	1,002.78	$	3.02	$	1,000.00	$	1,021.76	$	3.05		0.61	%		181		365
Class B	$	1,000.00	$	999.93	$	6.84	$	1,000.00	$	1,017.95	$	6.90		1.38			181		365
Class C	$	1,000.00	$	998.82	$	6.78	$	1,000.00	$	1,018.00	$	6.85		1.37			181		365
Class I	$	1,000.00	$	1,004.35	$	1.44	$	1,000.00	$	1,023.35	$	1.45		0.29			181		365
Class R3	$	1,000.00	$	1,001.15	$	5.01	$	1,000.00	$	1,019.78	$	5.05		1.01			181		365
Class R4	$	1,000.00	$	1,002.87	$	3.07	$	1,000.00	$	1,021.72	$	3.10		0.62			181		365
Class R5	$	1,000.00	$	1,004.38	$	1.59	$	1,000.00	$	1,023.20	$	1.60		0.32			181		365

21

The Hartford Balanced Income Fund

Table of Contents

Manager Discussions (Unaudited)	2
Financial Statements
Schedule of Investments at April 30, 2009 (Unaudited)	5
Statement of Assets and Liabilities at April 30, 2009 (Unaudited)	15
Statement of Operations for the Six Month Period Ended April 30, 2009 (Unaudited)	16
Statement of Changes in Net Assets for the Six Month Period Ended April 30, 2009 (Unaudited) and the Year Ended October 31, 2008	17
Notes to Financial Statements (Unaudited)	18
Financial Highlights (Unaudited)	29
Directors and Officers (Unaudited)	30
How to Obtain a Copy of the Fund’s Proxy Voting Policies and Proxy Voting Records (Unaudited)	32
Quarterly Portfolio Holdings Information (Unaudited)	32
Expense Example (Unaudited)	33

The Hartford Balanced Income Fund
(subadvised by Wellington Management Company, LLP)

Performance Overview(1) 7/31/06 – 4/30/09
Growth of a $10,000 investment in Class A which includes Sales Charge

Barclays Capital Corporate Index is an unmanaged index and is the Corporate component of the U.S. Credit Index within the Barclays Capital U.S. Aggregate Bond Index.

Russell 1000 Value Index measures the performance of those Russell 1000 Index companies with lower price-to-book ratios and lower forecasted growth values.

You cannot invest directly in an index.

Investment objective — Seeks to provide current income with growth of capital as a secondary objective.

Average Annual Total Returns(2,3) (as of 4/30/09)

	Inception		1			Since
	Date		Year			Inception
Balanced Income A#		7/31/06		-19.74	%		-4.24	%
Balanced Income A##		7/31/06		-24.16	%		-6.19	%
Balanced Income B#		7/31/06		-20.23	%		-4.92	%
Balanced Income B##		7/31/06		-24.06	%		-5.88	%
Balanced Income C#		7/31/06		-20.30	%		-4.95	%
Balanced Income C##		7/31/06		-21.07	%		-4.95	%
Balanced Income Y#		7/31/06		-19.50	%		-3.93	%

#	Without sales charge
##	With sales charge

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)	Growth of a $10,000 investment in Classes B, C and Y shares will vary from results seen above due to differences in the expenses charged to these share classes.
(2)	The initial investment in Class A shares reflects the maximum sales charge and Classes B and C reflect CDSC.
(3)	Total returns presented above were calculated using the Fund’s net asset value available to shareholders for sale or redemption of Fund shares on April 30, 2009, which excludes investment transactions as of this date.

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

The value of shares will fluctuate so that, when redeemed, shares may be worth more or less than their original cost. The chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.

Portfolio Managers
Lucius T. Hill, III	Scott I. St. John, CFA	Ian R. Link, CFA
Senior Vice President	Vice President	Vice President
W. Michael Reckmeyer, III, CFA	Karen H. Grimes, CFA
Senior Vice President	Senior Vice President

How did the Fund perform?

The Class A shares of The Hartford Balanced Income Fund returned -0.41%, before sales charge, for the six-month period ended April 30, 2009, versus the returns of -13.27% for the Russell 1000 Value Index, 12.78% for the Barclays Capital Corporate Index and -0.39% for the average fund in the Lipper Mixed-Asset Target Allocation Moderate Funds peer group, a group of funds that hold between 40-60% in equity securities and the remainder in bonds, cash and cash equivalents.

Why did the Fund perform this way?

Investors were forced to navigate widely varied markets during the period. In equities, stocks fell sharply from the beginning of November through early March, reflecting deepening economic worries and concerns over the U.S. government’s increasing involvement in the economy. From early March through the end of April stocks rallied and credit spreads tightened (i.e. short and long term interest rates moving closer together) as investors came to believe that a Depression-like scenario was less likely.

The Russell 1000 Value Index fell -13% during the period. Sector returns within the Russell 1000 Value diverged widely, with weakness in Financials (-29%), Industrials (-20%), and Energy (-10%) overshadowing relative strength in Information Technology (+10%), Consumer Discretionary (+4%), and Telecommunication Services (+3%).

2

Fixed income rallied during the period as all three of the components of the fund’s fixed income benchmark rose. High yield securities, as measured by the Barclays High Yield (2% issuer cap) index, gained 16%, while emerging markets bonds, as measured by the JP Morgan EMBI+ emerging markets bond index, rose 19%. Investment grade corporate securities, as measured by the Barclays Corporate index, were up 13% during the period.

The Fund had weak relative (i.e. performance of the Fund as measured against the benchmark) performance in both the equity and fixed income portions of the Fund. This was somewhat offset by the impact of being slightly underweight (i.e. the Fund’s sector position was less than the benchmark position) equities during the period.

The Fund’s equity component lagged due to both stock selection and sector allocation. Stock selection was particularly weak within Financials, Materials, and Consumer Staples. This more than offset strong stock selection in Industrials, Utilities, and Energy. Allocation among sectors, which is driven by bottom-up (i.e. stock by stock fundamental research) fundamental research, was negatively impacted by an underweight position in Health Care and underweight to Financials during the better part of the period when Financials rallied.

Among the top equity contributors to benchmark-relative returns were FPL Group (Utilities), Citigroup (Financials), and Nordstrom (Consumer Discretionary). Shares of Florida-based electricity provider FPL Group gained on strong quarterly results and reaffirmation of 2009 guidance. We did not own the downward-trending shares of Citigroup during the period, which benefited relative results as the company is a significant benchmark holding. Nordstrom, an upscale retailer, saw its shares gain on hopes that the economic downturn may be less steep than previously expected. Top absolute (i.e. total return) contributors for the period included home improvement company Home Depot.

PNC Financial (Financials), JPMorgan Chase (Financials), and Wells Fargo (Financials), detracted most from benchmark-relative and absolute returns in the equity sleeve. Shares of financial services firm PNC Financial fell on concerns regarding the value of assets held at recently-acquired National City. JPMorgan Chase saw its shares pressured by fears that the company’s exposures to consumer and large corporate credit would lead to an earnings shortfall and greater balance sheet uncertainty. Wells Fargo shares fell sharply as investors became concerned about the potential negative impact of the Wachovia acquisition to the company’s balance sheet and the possibility that Wells Fargo may have to cut its dividend. During the period all three companies were forced to announce dividend cuts, making them unsuitable holdings given the Fund’s focus on income-generating stocks. We eliminated our holdings in all three companies during the period.

Within the fixed income portion of the Fund, security selection within the investment grade corporate bond and high yield sectors were the primary detractors from relative results. In particular, the Fund had exposure to debt issued by Financial companies based on expectations of strong government support and the belief that liquidity programs would begin to unfreeze credit markets. At the epicenter of the crisis, corporate bonds issued by financial companies underperformed during the period as new fears of bank nationalization, continued and elevated asset writedowns, and greater demand for corporate debt from Industrial and Utility issuers materialized. In particular the Fund’s Insurance, REITS and Bank holdings detracted from performance. Within the high yield sector, the Fund maintained its up-in-quality bias. In March and April the lowest quality CCC-rated segment of the market materially outperformed, hurting the Fund’s relative results in this sector. Security selection within the emerging market debt allocation was additive for the six month period.

What is the outlook?

It is increasingly clear that the U.S. is in a deep recession, the recent stock market rally notwithstanding. Unemployment continues to rise, the housing market is retreating, and the consumer spending is contracting. The government is reshaping the financial playing field through actions ranging from stimulus packages to massive loans to impaired private sector companies, all taken with an eye towards thawing frozen credit markets and expanding purchasing power. These moves will help mitigate some of the negative economic pressures, and while the outlook remains uncertain, markets have begun to anticipate a recovery.

In the equity portion of the Fund we have maintained our focus on investing in companies with solid balance sheets, above-market growth rates, sustainable dividend yields, and valuations at a discount to the market. Based on bottom-up stock decisions, we ended the period most overweight (i.e. the Fund’s sector position was greater than the benchmark position) the Industrials, Consumer Staples, and Utilities sectors; our largest underweights were in Financials, Consumer Discretionary, and Materials.

In the wake of last year’s turmoil, we continue to find good value in the corporate bond market and have a constructive outlook. We believe that default levels implied by pricing in the corporate bond market are too high and that valuations are attractive. We have felt for some time that government programs to restore liquidity would work in advance of the government programs aimed at stimulating the economy, and we believe that the risks of a severe and prolonged global recession are diminishing. However, we believe that the economic recovery will likely be muted and continue to favor sectors that have been disproportionately impacted by the credit crunch. These include corporate bonds issued by financial companies, insurance companies, and REITS. We ended the period underweight sectors that are more cyclical as we find better

3

value in other areas of the market and we believe that these sectors will continue to be negatively impacted by a protracted period of lower consumption in the U.S. Within the Fund’s allocation to high yield we are selectively reducing the Fund’s up-in-quality bias, while continuing to avoid highly cyclical issuers.

In emerging markets, we recently have adopted a more neutral stance, moving away from the cautious positioning that characterized the Fund throughout much of 2008 and the first quarter of 2009. Tentative signs that the pace of economic deterioration is slowing are clearly a positive and if global growth continues to stabilize, even at depressed levels, risky assets appear well-positioned to outperform going forward. In addition, renewed confidence in the ability of the IMF to serve as an effective lender of last resort across emerging markets remains a key positive for the asset class. Our positive outlook is tempered by expectations that fundamental credit trends will be negative across emerging markets in 2009.

The equity and fixed income managers continue to work collaboratively to make decisions regarding portfolio weights in equities and fixed income. At the end of the period, the Fund was slightly overweight towards fixed income relative to its benchmark.

Diversification by Industry
as of April 30, 2009

	Percentage of
Industry	Net Assets
Banks		3.1	%
Basic Materials		1.6
Capital Goods		5.5
Commercial & Professional Services		1.3
Consumer Cyclical		1.0
Consumer Durables & Apparel		1.1
Consumer Staples		2.6
Energy		10.6
Finance		19.6
Food & Staples Retailing		0.4
Food, Beverage & Tobacco		4.0
Foreign Governments		4.9
General Obligations		0.3
Health Care		2.4
Household & Personal Products		1.3
Insurance		0.7
Materials		1.5
Pharmaceuticals, Biotechnology & Life Sciences		6.2
Real Estate		0.2
Retailing		2.7
Semiconductors & Semiconductor Equipment		1.9
Services		2.8
Technology		6.8
Telecommunication Services		2.9
Transportation		0.7
Utilities		9.4
Short-Term Investments		2.7
Other Assets and Liabilities		1.8
Total		100.0	%

Distribution by Security Type
as of April 30, 2009

	Percentage of
Category	Net Assets
Asset & Commercial Mortgage Backed Securities		1.5	%
Common Stocks		43.5
Corporate Bonds: Investment Grade		42.6
Corporate Bonds: Non-Investment Grade		7.5
Municipal Bonds		0.4
Short-Term Investments		2.7
Other Assets and Liabilities		1.8
Total		100.0	%

4

The Hartford Balanced Income Fund

Schedule of Investments
April 30, 2009 (Unaudited)
(000’s Omitted)

Shares or Principal Amount ╬			Market Value ╪
COMMON STOCKS — 43.5%
		Banks — 3.1%
	10	Bank of Nova Scotia	$	290
	46	HSBC Holding plc		330
	18	Standard Chartered plc		278
	11	Toronto-Dominion Bank ADR		449
				1,347
		Capital Goods — 5.1%
	7	3M Co.		380
	5	Caterpillar, Inc.		181
	7	Eaton Corp.		316
	5	Emerson Electric Co.		177
	31	General Electric Co.		388
	8	Illinois Tool Works, Inc.		249
	8	PACCAR, Inc.		294
	6	Rockwell Automation, Inc.		186
	1	Schneider Electric S.A.		95
				2,266
		Commercial & Professional Services — 1.3%
	10	Republic Services, Inc.		210
	13	Waste Management, Inc.		344
				554
		Consumer Durables & Apparel — 1.1%
	13	Mattel, Inc.		188
	6	Stanley Works		221
	2	V.F. Corp.		107
				516
		Energy — 7.1%
	8	BP plc ADR		352
	13	Chevron Corp.		853
	8	ConocoPhillips Holding Co.		336
	7	EnCana Corp. ADR		302
	11	Marathon Oil Corp.		333
	8	Royal Dutch Shell plc ADR		343
	13	Total S.A. ADR		631
				3,150
		Food & Staples Retailing — 0.4%
	8	Sysco Corp.		194
		Food, Beverage & Tobacco — 4.0%
	22	Altria Group, Inc.		351
	4	ConAgra Foods, Inc.		71
	3	Diageo plc ADR		163
	7	H.J. Heinz Co.		237
	9	Kraft Foods, Inc.		218
	2	Lorillard, Inc.		151
	2	PepsiCo, Inc.		114
	10	Philip Morris International, Inc.		348
	8	Unilever N.V. NY Shares ADR		154
				1,807
		Household & Personal Products — 1.3%
	12	Kimberly-Clark Corp.		580
		Insurance — 0.7%
	6	Aflac, Inc.		159
	7	Allstate Corp.		152
				311
		Materials — 1.5%
	11	E.I. DuPont de Nemours & Co.		301
	9	Packaging Corp. of America		140
	5	PPG Industries, Inc.		216
				657
		Pharmaceuticals, Biotechnology & Life Sciences — 6.2%
	5	Bristol-Myers Squibb Co.		98
	2	Eli Lilly & Co.		59
	7	GlaxoSmithKline plc ADR		219
	12	Johnson & Johnson		628
	35	Merck & Co., Inc.		836
	50	Pfizer, Inc.		665
	5	Wyeth		208
				2,713
		Real Estate — 0.2%
	2	Regency Centers Corp.		86
		Retailing — 2.7%
	12	Genuine Parts Co.		411
	29	Home Depot, Inc.		769
				1,180
		Semiconductors & Semiconductor Equipment — 1.9%
	22	Analog Devices, Inc.		462
	24	Intel Corp.		371
				833
		Telecommunication Services — 2.9%
	32	AT&T, Inc.		824
	15	Verizon Communications, Inc.		443
				1,267
		Transportation — 0.4%
	3	United Parcel Service, Inc. Class B		168
		Utilities — 3.6%
	8	American Electric Power Co., Inc.		214
	17	Dominion Resources, Inc.		519
	5	Exelon Corp.		230
	10	FPL Group, Inc.		549
	1	SCANA Corp.		36
				1,548
		Total common stocks (cost $22,148)	$	19,177
ASSET & COMMERCIAL MORTGAGE BACKED SECURITIES — 1.5%
		Finance — 1.5%
		Banc of America Commercial Mortgage, Inc.
$	85	5.45%, 01/15/2049	$	66
		Carmax Automotive Owner Trust
	45	4.34%, 09/15/2010		45
		Commercial Mortgage Pass-Through Certificates
	100	5.96%, 06/10/2046 Δ		83
		Long Beach Automotive Receivables Trust
	100	5.03%, 01/15/2014		85
		Merrill Lynch Mortgage Trust
	100	5.05%, 07/12/2038		87
	100	5.80%, 05/12/2039 Δ		92
		Morgan Stanley Capital I
	100	5.23%, 09/15/2042		89

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

5

The Hartford Balanced Income Fund
Schedule of Investments — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

Shares or Principal Amount ╬			Market Value ╪
ASSET & COMMERCIAL MORTGAGE BACKED SECURITIES — 1.5% — (continued)
		Finance — 1.5% — (continued)
		Nissan Automotive Lease Trust
$	100	5.10%, 07/16/2012	$	100
				647
		Transportation — 0.0%
		Delta Air Lines
	15	7.92%, 11/18/2010		12
		Total asset & commercial mortgage backed securities (cost $738)	$	659
CORPORATE BONDS: INVESTMENT GRADE — 42.6%
		Basic Materials — 1.2%
		Alcan, Inc.
$	50	6.13%, 12/15/2033	$	34
		ArcelorMittal
	100	6.13%, 06/01/2018		81
		Commercial Metals Co.
	70	6.50%, 07/15/2017		51
		Cytec Industries, Inc.
	50	6.00%, 10/01/2015		39
		Freeport-McMoRan Copper & Gold, Inc.
	35	8.38%, 04/01/2017		34
		Inco Ltd.
	30	7.20%, 09/15/2032		24
	45	7.75%, 05/15/2012		46
		International Paper Co.
	40	7.40%, 06/15/2014		36
		Methanex Corp.
	20	8.75%, 08/15/2012		18
		Potash Corp. of Saskatchewan, Inc.
	30	5.25%, 05/15/2014		31
		Rio Tinto Finance USA Ltd.
	25	9.00%, 05/01/2019		26
		Temple-Inland, Inc.
	40	6.63%, 01/15/2016		32
		Yara International ASA
	45	5.25%, 12/15/2014 ■		38
				490
		Capital Goods — 0.4%
		Goodrich Corp.
	35	6.29%, 07/01/2016		35
		Tyco International Group S.A.
	25	6.75%, 02/15/2011		26
		Xerox Corp.
	100	5.50%, 05/15/2012		95
	60	6.40%, 03/15/2016		49
				205
		Consumer Cyclical — 0.5%
		Avnet, Inc.
	50	6.63%, 09/15/2016		42
		DaimlerChrysler NA Holdings Corp.
	70	6.50%, 11/15/2013		68
		Energy Transfer Partners
	25	6.63%, 10/15/2036		20
		Federated Retail Holdings, Inc.
	15	5.90%, 12/01/2016		12
		SABMiller plc
	80	6.20%, 07/01/2011 ■		80
				222
		Consumer Staples — 2.5%
		Altria Group, Inc.
	50	9.25%, 08/06/2019		57
	105	9.70%, 11/10/2018		123
		Anheuser-Busch InBev N.V.
	20	7.20%, 01/15/2014 ■		21
	75	7.75%, 01/15/2019 ■		79
		BAT International Finance plc
	20	8.13%, 11/15/2013 ■		21
	35	9.50%, 11/15/2018 ■		40
		Bottling Group LLC
	60	5.13%, 01/15/2019		61
		Cargill, Inc.
	95	5.60%, 09/15/2012 ■		94
		Cia Brasileira de Bebidas
	50	8.75%, 09/15/2013		55
		Coca-Cola Enterprises, Inc.
	50	7.38%, 03/03/2014		57
		Dr. Pepper Snapple Group
	75	6.82%, 05/01/2018		73
		Kraft Foods, Inc.
	100	6.50%, 08/11/2017		104
	130	6.75%, 02/19/2014		141
		PepsiAmericas, Inc.
	35	4.88%, 01/15/2015		34
		Philip Morris International, Inc.
	75	5.65%, 05/16/2018		76
	55	6.38%, 05/16/2038		55
		Weyerhaeuser Co.
	10	7.38%, 03/15/2032		8
				1,099
		Energy — 3.0%
		AGL Capital Corp.
	35	6.38%, 07/15/2016		32
		Amerada Hess Corp.
	45	7.88%, 10/01/2029		43
		Atmos Energy Corp.
	40	6.35%, 06/15/2017		37
		Canadian National Resources Ltd.
	30	5.70%, 05/15/2017		29
		ConocoPhillips
	150	4.75%, 02/01/2014		158
		Devon Financing Corp.
	75	7.88%, 09/30/2031		81
		EnCana Corp.
	40	6.50%, 05/15/2019		40
		Enterprise Products Operating L.P.
	90	5.65%, 04/01/2013		85
		Hess Corp.
	85	7.00%, 02/15/2014		92
		Panhandle Eastern Pipeline
	75	6.20%, 11/01/2017		68
		Pemex Project Funding Master Trust
	50	5.75%, 03/01/2018		45
		Sempra Energy
	70	8.90%, 11/15/2013		77

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

6

Shares or Principal Amount ╬			Market Value ╪
CORPORATE BONDS: INVESTMENT GRADE — 42.6% — (continued)
		Energy — 3.0% — (continued)
		Statoilhydro ASA
$	25	5.25%, 04/15/2019	$	25
		Transocean, Inc.
	110	6.00%, 03/15/2018		109
		TXU Electric Delivery Co.
	100	6.38%, 05/01/2012		102
		Weatherford International Ltd.
	100	6.00%, 03/15/2018		84
		XTO Energy, Inc.
	80	5.50%, 06/15/2018		76
	50	5.75%, 12/15/2013		51
	25	6.75%, 08/01/2037		24
	45	7.50%, 04/15/2012		47
				1,305
		Finance — 17.5%
		Ace Capital Trust II
	90	9.70%, 04/01/2030		70
		Allied World Assurance
	50	7.50%, 08/01/2016		35
		AMB Property L.P.
	100	5.45%, 12/01/2010		95
		Ameriprise Financial, Inc.
	60	5.35%, 11/15/2010		59
	20	5.65%, 11/15/2015		17
		Bank of America Corp.
	50	4.90%, 05/01/2013		46
	55	5.65%, 05/01/2018		45
	230	6.00%, 09/01/2017		192
	50	7.25%, 10/15/2025		33
		Banque Cent De Tunisie
	10	7.38%, 04/25/2012		10
		Bear Stearns & Co., Inc.
	90	5.35%, 02/01/2012		92
	75	6.95%, 08/10/2012		79
	120	7.25%, 02/01/2018		123
		Berkshire Hathaway Finance Corp.
	50	5.00%, 08/15/2013		52
		Brandywine Operating Partnership
	15	5.70%, 05/01/2017		8
	75	5.75%, 04/01/2012		57
		Capital One Financial Corp.
	200	6.75%, 09/15/2017		169
		CIT Group, Inc.
	10	5.40%, 01/30/2016		5
	23	5.65%, 02/13/2017		12
	45	5.80%, 07/28/2011		30
	31	5.85%, 09/15/2016		17
	10	7.63%, 11/30/2012		6
	60	12.00%, 12/18/2018 ■		25
		Citigroup, Inc.
	260	5.50%, 08/27/2012 — 04/11/2013		232
	85	6.00%, 10/31/2033		47
	55	6.13%, 11/21/2017		45
	100	6.88%, 03/05/2038		85
		Colonial Realty L.P.
	95	6.05%, 09/01/2016		65
		Countrywide Financial Corp.
	40	5.80%, 06/07/2012		37
		COX Communications, Inc.
	70	6.45%, 12/01/2036 ■		57
	90	7.13%, 10/01/2012		91
		Credit Suisse New York
	100	5.00%, 05/15/2013		99
	265	6.00%, 02/15/2018		236
		Developers Diversified Realty Corp.
	50	5.00%, 05/03/2010		39
	50	5.38%, 10/15/2012		23
		Development Bank of Kazakhstan
	35	7.38%, 11/12/2013 •		26
		Discover Financial Services, Inc.
	10	6.45%, 06/12/2017		7
		Duke-Weeks Realty
	50	7.75%, 11/15/2009		50
		Eaton Vance Corp.
	65	6.50%, 10/02/2017		57
		Equity One, Inc.
	65	6.00%, 09/15/2017		45
		ERAC USA Finance Co.
	75	7.00%, 10/15/2037 ■		52
		Everest Reinsurance Holdings, Inc.
	70	5.40%, 10/15/2014		62
	50	6.60%, 05/15/2037 Δ		25
	20	8.75%, 03/15/2010		20
		Farmers Exchange Capital
	100	7.05%, 07/15/2028 ■		59
		General Electric Capital Corp.
	75	5.40%, 09/20/2013		74
	95	5.88%, 01/14/2038		66
	90	6.15%, 08/07/2037		64
	205	6.75%, 03/15/2032		160
		Goldman Sachs Group, Inc.
	140	5.45%, 11/01/2012		140
	75	5.95%, 01/15/2027		54
	180	6.25%, 09/01/2017		170
	170	6.45%, 05/01/2036		124
	30	6.60%, 01/15/2012		32
	70	7.50%, 02/15/2019		72
		HBOS plc
	50	6.00%, 11/01/2033 ■		28
		Health Care Properties
	20	5.65%, 12/15/2013		17
	80	6.00%, 01/30/2017		65
		Host Hotels & Resorts, Inc.
	7	3.25%, 04/15/2024 ۞ ■		7
		Host Marriott L.P.
	30	6.75%, 06/01/2016		26
		HSBC Finance Corp.
	100	6.38%, 10/15/2011		99
	95	6.75%, 05/15/2011		93
		HSBC Holdings plc
	250	6.80%, 06/01/2038		220
		International Lease Finance Corp.
	100	5.63%, 09/15/2010		86
		JP Morgan Chase & Co.
	165	5.13%, 09/15/2014		153
	170	5.38%, 10/01/2012		172
	25	6.30%, 04/23/2019		25
		Keycorp
	25	6.50%, 05/14/2013		24
		Kimco Realty Corp.
	20	5.58%, 11/23/2015		15
	30	5.78%, 03/15/2016		23

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

7

The Hartford Balanced Income Fund
Schedule of Investments — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

Shares or Principal Amount ╬			Market Value ╪
CORPORATE BONDS: INVESTMENT GRADE — 42.6% — (continued)
		Finance — 17.5% — (continued)
		Lazard Group
$	80	6.85%, 06/15/2017	$	64
		Liberty Mutual Group, Inc.
	60	5.75%, 03/15/2014 ■		46
	80	7.50%, 08/15/2036 ■		50
		Liberty Property L.P.
	50	5.50%, 12/15/2016		35
	50	8.50%, 08/01/2010		48
		Lincoln National Corp.
	80	5.65%, 08/27/2012		52
	35	6.15%, 04/07/2036		19
		Merrill Lynch & Co., Inc.
	50	5.45%, 02/05/2013		44
	210	6.05%, 08/15/2012 — 05/16/2016		174
	100	6.22%, 09/15/2026		59
	20	6.40%, 08/28/2017		16
		Metlife, Inc.
	25	6.13%, 12/01/2011		25
		Mizuho Financial Group, Inc.
	100	5.79%, 04/15/2014 ■		95
		Morgan Stanley
	90	4.75%, 04/01/2014		76
	200	5.45%, 01/09/2017		179
	200	6.00%, 04/28/2015		189
		National City Corp.
	40	4.90%, 01/15/2015		36
		PNC Funding Corp.
	60	5.50%, 09/28/2012		57
		Prudential Financial, Inc.
	70	6.10%, 06/15/2017		50
		Realty Income Corp.
	85	6.75%, 08/15/2019		63
		Regency Centers L.P.
	30	5.25%, 08/01/2015		21
	15	5.88%, 06/15/2017		10
		Reinsurance Group of America, Inc.
	60	5.63%, 03/15/2017		39
		Schwab Capital Trust I
	35	7.50%, 11/15/2037 Δ		24
		Simon Property Group L.P.
	50	4.88%, 08/15/2010		49
	45	5.38%, 06/01/2011		43
	80	5.63%, 08/15/2014		69
		SLM Corp.
	50	5.00%, 04/15/2015 *		31
	30	8.45%, 06/15/2018		18
		Symetra Financial Corp.
	10	6.13%, 04/01/2016 ■		8
		Trustreet Properties, Inc.
	80	7.50%, 04/01/2015		78
		UFJ Finance Aruba AEC
	100	6.75%, 07/15/2013		102
		United Dominion Realty Trust, Inc.
	55	6.05%, 06/01/2013		45
		UnitedHealth Group, Inc.
	100	5.50%, 11/15/2012		100
		Unitrin, Inc.
	100	4.88%, 11/01/2010		82
		Ventas Realty L.P.
	10	6.50%, 06/01/2016		9
		W.R. Berkley Corp.
	90	5.13%, 09/30/2010		85
		Wachovia Corp.
	55	4.88%, 02/15/2014		48
	100	5.50%, 05/01/2013		98
	70	5.63%, 10/15/2016		57
	105	5.75%, 02/01/2018		96
		WEA Finance LLC
	100	7.13%, 04/15/2018 ■		83
		Wellpoint, Inc.
	50	6.00%, 02/15/2014		51
		Wells Fargo & Co.
	175	4.38%, 01/31/2013		168
	120	5.63%, 12/11/2017		112
		Westfield Group ADR
	60	5.40%, 10/01/2012 ■		55
		WR Berkley Corp.
	25	5.88%, 02/15/2013		22
				7,725
		Foreign Governments — 2.7%
		Brazil (Republic of)
	100	6.00%, 01/17/2017		101
BRL	54	6.00%, 08/15/2010		25
	35	7.88%, 03/07/2015		39
	46	8.00%, 01/15/2018		50
	55	8.25%, 01/20/2034		62
	70	8.75%, 02/04/2025		83
	20	8.88%, 10/14/2019		24
		Colombia (Republic of)
	100	7.38%, 03/18/2019		105
	30	10.38%, 01/28/2033		38
		El Salvador (Republic of)
	25	7.75%, 01/24/2023 §		24
		Peru (Republic of)
	14	6.55%, 03/14/2037		13
	20	7.13%, 03/30/2019		22
EUR	10	7.50%, 10/14/2014		14
	10	8.75%, 11/21/2033		12
	35	9.13%, 02/21/2012		40
		Russian Federation Government
	336	7.50%, 03/31/2030 §		327
	15	12.75%, 06/24/2028 §		21
		South Africa (Republic of)
	15	7.38%, 04/25/2012		16
		United Mexican States
	60	5.88%, 02/17/2014		62
	88	6.05%, 01/11/2040		77
MXP	175	7.75%, 12/14/2017		13
MXP	175	8.00%, 12/19/2013		13
ITL	5,000	11.00%, 05/08/2017		4
				1,185
		Health Care — 1.9%
		Amerisource Bergen Corp.
	25	5.63%, 09/15/2012		25
	101	5.88%, 09/15/2015		97

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

8

Shares or Principal Amount ╬			Market Value ╪
CORPORATE BONDS: INVESTMENT GRADE — 42.6% — (continued)
		Health Care — 1.9% — (continued)
		Amgen, Inc.
$	20	5.70%, 02/01/2019	$	20
	25	6.40%, 02/01/2039		25
		Amylin Pharmaceuticals, Inc.
	5	3.00%, 06/15/2014 ۞ ■		3
		AstraZeneca plc
	45	6.45%, 09/15/2037		49
		CVS Caremark Corp.
	39	6.94%, 01/10/2030 ■		30
		CVS Lease Pass-Through Trust
	19	6.04%, 12/10/2028 ■		14
		Glaxosmithkline Capital, Inc.
	50	5.65%, 05/15/2018		52
	85	6.38%, 05/15/2038		88
		Laboratory Corp.
	20	5.63%, 12/15/2015		17
		McKesson Corp.
	5	7.50%, 02/15/2019		5
		Medco Health Solutions, Inc.
	75	7.13%, 03/15/2018		74
		Pfizer, Inc.
	105	6.20%, 03/15/2019		113
	50	7.20%, 03/15/2039		55
		Quest Diagnostics, Inc.
	115	6.95%, 07/01/2037		102
		Roche Holdings, Inc.
	75	6.00%, 03/01/2019 ■		78
				847
		Services — 2.1%
		AT&T Broadband Corp.
	120	8.38%, 03/15/2013		133
		CBS Corp.
	145	7.70%, 07/30/2010		148
		Comcast Corp.
	80	6.45%, 03/15/2037		74
	110	7.05%, 03/15/2033		108
		Electronic Data Systems Corp.
	40	7.45%, 10/15/2029		44
		News America, Inc.
	60	6.40%, 12/15/2035		44
		Time Warner Entertainment Co., L.P.
	30	8.38%, 03/15/2023		31
		Time Warner, Inc.
	50	5.50%, 11/15/2011		51
	85	6.75%, 04/15/2011		89
	105	7.63%, 04/15/2031 ‡		95
		Viacom, Inc.
	50	5.75%, 04/30/2011		50
	40	6.13%, 10/05/2017		36
	45	6.25%, 04/30/2016		42
		Wyndham Worldwide Corp.
	10	6.00%, 12/01/2016		7
				952
		Technology — 5.6%
		AT&T, Inc.
	30	5.10%, 09/15/2014		31
	90	6.15%, 09/15/2034		80
	250	6.30%, 01/15/2038		231
	110	6.50%, 09/01/2037 ‡		104
		BellSouth Corp.
	30	5.20%, 09/15/2014		31
		British Telecommunications plc
	35	8.62%, 12/15/2010 Δ		37
	60	9.12%, 12/15/2030 Δ		58
		Cingular Wireless Services, Inc.
	120	8.75%, 03/01/2031		137
		Comcast Cable Communications, Inc.
	20	6.75%, 01/30/2011		21
		Deutsche Telekom International Finance B.V.
	120	8.75%, 06/15/2030		138
		General Electric Co.
	90	5.25%, 12/06/2017		85
		IBM Corp.
	125	8.00%, 10/15/2038		154
		Qwest Corp.
	10	7.63%, 06/15/2015		10
		Rogers Communications, Inc.
	100	6.80%, 08/15/2018		105
		Siemens Finance
	100	6.13%, 08/17/2026 ■		96
		Sunpower Corp.
	9	4.75%, 04/15/2014 ۞		11
		Telecom Italia Capital
	10	5.25%, 10/01/2015		9
	180	6.20%, 07/18/2011		181
		Telefonica Europe B.V.
	65	8.25%, 09/15/2030		74
		Time Warner Cable, Inc.
	120	5.40%, 07/02/2012		122
	85	6.55%, 05/01/2037		78
	50	7.30%, 07/01/2038		50
		Verizon Communications, Inc.
	70	6.40%, 02/15/2038		65
	30	8.75%, 11/01/2018		36
		Verizon Global Funding Corp.
	310	7.75%, 12/01/2030		327
		Verizon Wireless
	50	5.55%, 02/01/2014 ■		52
	125	8.50%, 11/15/2018 ■		150
				2,473
		Transportation — 0.2%
		American Airlines, Inc.
	27	3.86%, 07/09/2010		24
		Continental Airlines, Inc.
	20	5.98%, 04/19/2022		16
	10	6.90%, 04/19/2022		6
		Southwest Airlines Co.
	57	6.15%, 08/01/2022		51
				97
		Utilities — 5.0%
		Aquila, Inc.
	50	11.88%, 07/01/2012		52
		Carolina Power & Light Co.
	15	5.30%, 01/15/2019		15
		CenterPoint Energy Houston Electric LLC
	35	7.00%, 03/01/2014		37
		CenterPoint Energy Resources Corp.
	25	7.75%, 02/15/2011		26

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

9

The Hartford Balanced Income Fund
Schedule of Investments — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

Shares or Principal Amount ╬			Market Value ╪
CORPORATE BONDS: INVESTMENT GRADE — 42.6% — (continued)
		Utilities — 5.0% — (continued)
		CenterPoint Energy, Inc.
$	30	6.50%, 05/01/2018	$	26
		Commonwealth Edison Co.
	100	5.80%, 03/15/2018		95
		DCP Midstream LLC
	100	6.75%, 09/15/2037 ■		66
		Dominion Resources, Inc.
	181	6.25%, 06/30/2012		190
		Duke Energy Corp.
	100	5.65%, 06/15/2013		103
		EDP Finance B.V.
	100	6.00%, 02/02/2018 ■		97
		El Paso Natural Gas Co.
	70	5.95%, 04/15/2017		64
		Electricite de France
	100	5.50%, 01/26/2014 ■		107
		Entergy Texas, Inc.
	50	7.13%, 02/01/2019		50
		Exelon Generation Co. LLC
	45	6.95%, 06/15/2011		47
		FPL Group Capital, Inc.
	50	6.00%, 03/01/2019		51
		ITC Midwest LLC
	40	6.15%, 01/31/2038 ■		35
		Kansas City Power & Light Co.
	50	7.15%, 04/01/2019		51
		Kinder Morgan Energy Partners L.P.
	90	6.95%, 01/15/2038		78
	50	7.30%, 08/15/2033		44
		MidAmerican Energy Holdings Co.
	85	5.00%, 02/15/2014		85
	100	5.75%, 04/01/2018		99
		Nevada Power Co.
	100	6.50%, 08/01/2018		98
		NGPL Pipeco LLC
	130	6.51%, 12/15/2012 ■		129
		NiSource Finance Corp.
	10	5.25%, 09/15/2017		8
	140	6.40%, 03/15/2018		120
		Northern States Power Co.
	85	5.25%, 03/01/2018		86
		Pacific Gas and Electric
	35	6.25%, 03/01/2039		36
		Pacificorp
	50	6.35%, 07/15/2038		52
		Peco Energy Co.
	20	5.70%, 03/15/2037		17
		Progress Energy, Inc.
	50	6.85%, 04/15/2012		53
		Taqa Abu Dhabi National
	100	6.50%, 10/27/2036 ■		75
		TransCanada Pipelines Ltd.
	45	7.63%, 01/15/2039		49
		Union Electric Co.
	45	6.40%, 06/15/2017		44
				2,185
		Total corporate bonds: investment grade (cost $20,334)	$	18,785
CORPORATE BONDS: NON-INVESTMENT GRADE — 7.5%
		Basic Materials — 0.4%
		Blount, Inc.
	35	8.88%, 08/01/2012	$	34
		BWAY Corp.
	5	10.00%, 04/15/2014 ■		5
		Cascades, Inc.
	15	7.25%, 02/15/2013		12
		Hawk Corp.
	15	8.75%, 11/01/2014		15
		Koppers Holdings, Inc.
	30	10.92%, 11/15/2014		25
		Koppers, Inc.
	10	9.88%, 10/15/2013		10
		Neenah Paper, Inc.
	25	7.38%, 11/15/2014		10
		Peabody Energy Corp.
	10	6.88%, 03/15/2013		10
		Rock Tenn Co.
	15	9.25%, 03/15/2016		15
		Texas Industries, Inc.
	25	7.25%, 07/15/2013		20
		Tube City IMS Corp.
	25	9.75%, 02/01/2015		6
				162
		Capital Goods — 0.0%
		Actuant Corp.
	10	6.88%, 06/15/2017		9
		L-3 Communications Corp.
	15	5.88%, 01/15/2015		14
		Vought Aircraft Industries, Inc.
	15	8.00%, 01/15/2011		6
				29
		Consumer Cyclical — 0.5%
		Alliance One International, Inc.
	10	8.50%, 05/15/2012		9
	15	11.00%, 05/15/2012		15
		Aramark Corp.
	15	8.50%, 02/01/2015		14
		Dollar General Corp.
	10	11.88%, 07/15/2017		10
		ESCO Corp.
	30	8.63%, 12/15/2013 ■		24
		Ford Motor Co.
	15	7.45%, 07/16/2031		8
		Group 1 Automotive, Inc.
	20	8.25%, 08/15/2013		17
		Pulte Homes, Inc.
	40	7.88%, 08/01/2011		40
		Supervalu, Inc.
	15	8.00%, 05/01/2016		15
		TRW Automotive, Inc.
	20	7.00%, 03/15/2014 ■		11
		United Components, Inc.
	90	9.38%, 06/15/2013		49
				212
		Consumer Staples — 0.1%
		Land O’Lakes Capital Trust
	15	7.45%, 03/15/2028 ■		10
		Sally Holdings LLC
	10	10.50%, 11/15/2016		10

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

10

Shares or Principal Amount ╬			Market Value ╪
CORPORATE BONDS: NON-INVESTMENT GRADE — 7.5% — (continued)
		Consumer Staples — 0.1% — (continued)
		Tyson Foods, Inc.
$	25	10.50%, 03/01/2014 ■	$	26
				46
		Energy — 0.5%
		Chesapeake Energy Corp.
	15	6.25%, 01/15/2018		13
	20	6.50%, 08/15/2017		17
		Encore Acquisition Co.
	15	6.00%, 07/15/2015		12
	15	9.50%, 05/01/2016		14
		Newfield Exploration Co.
	25	7.13%, 05/15/2018		23
		Petrohawk Energy Corp.
	30	9.13%, 07/15/2013		29
		Petroleos de Venezuela S.A.
	30	5.25%, 04/12/2017		14
	40	5.38%, 04/12/2027		15
		Pioneer Natural Resources Co.
	25	5.88%, 07/15/2016		21
		Range Resources Corp.
	10	6.38%, 03/15/2015		9
		Southwestern Energy Co.
	10	7.50%, 02/01/2018 ■		10
		Williams Companies, Inc.
	45	8.75%, 03/15/2032		43
				220
		Finance — 0.6%
		Capmark Financial Group
	40	7.88%, 05/10/2012		10
		Ford Motor Credit Co.
	30	7.00%, 10/01/2013		23
	65	7.38%, 10/28/2009		62
	15	8.63%, 11/01/2010		13
		Fresenius U.S. Finance II
	10	9.00%, 07/15/2015 ■		11
		General Motors Acceptance Corp.
	15	5.63%, 05/15/2009		15
	30	7.75%, 01/19/2010		27
		GMAC LLC
	15	6.00%, 12/15/2011 ■		12
		Hertz Corp.
	20	8.88%, 01/01/2014		15
		NB Capital Trust IV
	20	8.25%, 04/15/2027		12
		Nuveen Investments, Inc.
	10	5.00%, 09/15/2010		8
		Rouse Co.
	15	5.38%, 11/26/2013		8
		United Rentals North America, Inc.
	15	1.88%, 10/15/2023 ۞		13
	20	6.50%, 02/15/2012		18
		Universal Hospital Services
	15	8.50%, 06/01/2015		14
				261
		Foreign Governments — 2.2%
		Argentina (Republic of)
EUR	5	2.26%, 12/31/2038		1
	5	2.50%, 12/31/2038		1
	99	8.28%, 12/31/2033		29
		Brazil (Republic of)
BRL	72	6.00%, 05/15/2015		31
		Colombia (Republic of)
COP	35,000	9.85%, 06/28/2027		17
COP	50,000	12.00%, 10/22/2015		26
		Ecuador (Republic of)
	30	10.00%, 08/15/2030 • §		10
		Indonesia (Republic of)
	70	6.75%, 03/10/2014 ■		67
	50	6.75%, 03/10/2014 §		47
		Pakistan (Republic of)
	100	6.88%, 06/01/2017 §		53
		Panama (Republic of)
	35	7.25%, 03/15/2015		37
		Philippines (Republic of)
	115	8.38%, 06/17/2019		127
		Turkey (Republic of)
	105	6.88%, 03/17/2036		90
	105	7.25%, 03/15/2015		107
	60	7.50%, 11/07/2019		60
	20	9.50%, 01/15/2014		23
TRY	24	10.00%, 02/15/2012		15
TRY	31	12.00%, 08/14/2013		21
		Ukraine Government
EUR	50	4.95%, 10/13/2015		34
		Uruguay (Republic of)
	25	7.63%, 03/21/2036		21
		Venezuela (Republic of)
	95	7.00%, 03/31/2038		46
	55	7.65%, 04/21/2025		29
	40	9.00%, 05/07/2023 §		23
	65	9.25%, 09/15/2027 — 05/07/2028 *		39
	15	9.38%, 01/13/2034		9
				963
		Health Care — 0.5%
		Biomet, Inc.
	15	10.00%, 10/15/2017		15
	10	10.38%, 10/15/2017		10
		Community Health Systems, Inc.
	25	8.88%, 07/15/2015		25
		Cubist Pharmaceuticals, Inc.
	10	2.25%, 06/15/2013 ۞		8
		Elan Financial plc
	10	5.23%, 11/15/2011 Δ		9
	35	7.75%, 11/15/2011		31
		HCA, Inc.
	10	6.50%, 02/15/2016		8
	5	8.50%, 04/15/2019 ■		5
	70	9.63%, 11/15/2016		65
		LifePoint Hospitals, Inc.
	20	3.50%, 05/15/2014 ۞		16
		Omnicare, Inc.
	20	6.88%, 12/15/2015		19
		Rite Aid Corp.
	15	10.38%, 07/15/2016		13
		Tenet Healthcare Corp.
	15	9.00%, 05/01/2015 ■		15
				239

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

11

The Hartford Balanced Income Fund
Schedule of Investments — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

Shares or Principal Amount ╬			Market Value ╪
CORPORATE BONDS: NON-INVESTMENT GRADE — 7.5% — (continued)
		Services — 0.7%
		AMC Entertainment, Inc.
$	35	8.00%, 03/01/2014	$	32
		Anixter International, Inc.
	15	10.00%, 03/15/2014		14
		Bonten Media Acquisition
	15	9.00%, 06/01/2015 ■		2
		Canwest Media, Inc.
	45	8.00%, 09/15/2012		12
		Harrah’s Operating Co., Inc.
	10	5.50%, 07/01/2010		6
	3	10.00%, 12/15/2018 ■		1
		HSN, Inc.
	15	11.25%, 08/01/2016 ■		11
		Marquee Holdings, Inc.
	20	12.00%, 08/15/2014		16
		Quebecor Media, Inc.
	65	7.75%, 03/15/2016		54
		River Rock Entertainment
	10	9.75%, 11/01/2011		7
		Seneca Gaming Corp.
	50	7.25%, 05/01/2012		35
		Sensata Technologies
	10	8.00%, 05/01/2014		4
		Service Corp. International
	25	7.00%, 06/15/2017		22
		SunGard Data Systems, Inc.
	30	9.13%, 08/15/2013		29
	20	10.25%, 08/15/2015		17
		Unisys Corp.
	15	8.00%, 10/15/2012		7
		Virgin River Casino Corp.
	10	9.00%, 01/15/2012		1
		West Corp.
	15	9.50%, 10/15/2014		13
				283
		Technology — 1.2%
		Bio-Rad Laboratories, Inc.
	10	6.13%, 12/15/2014		9
		CCH II Holdings LLC/ CCH II Capital
	20	10.25%, 10/01/2013		18
		Centennial Communications Corp.
	20	10.00%, 01/01/2013		21
		Charter Communications Holdings II LLC
	20	10.25%, 09/15/2010		18
		Charter Communications Operating LLC
	15	8.00%, 04/30/2012 ■ Ψ		14
	35	10.88%, 09/15/2014 ■ Ψ		35
		Cricket Communications, Inc.
	30	10.00%, 07/15/2015 ■		30
		Crown Castle International Corp.
	5	7.75%, 05/01/2017 ■		5
		CSC Holdings, Inc.
	55	7.63%, 07/15/2018		53
	10	8.50%, 04/15/2014 ■		10
		Deluxe Corp.
	35	7.38%, 06/01/2015		26
		Flextronics International
	15	1.00%, 08/01/2010 ۞		14
		Frontier Communications Corp.
	10	8.25%, 05/01/2014		10
		GCI, Inc.
	25	7.25%, 02/15/2014		23
		Hologic, Inc.
	15	2.00%, 12/15/2037 ۞		11
		Inmarsat Finance II plc
	30	10.38%, 11/15/2012		31
		Intelsat Bermuda Ltd.
	15	11.25%, 06/15/2016		15
		Intelsat Jackson Holdings Ltd.
	65	9.50%, 06/15/2016 ■		64
		Lender Process Services
	25	8.13%, 07/01/2016		25
		Maxtor Corp.
	10	2.38%, 08/15/2012 ۞		7
		Mediacom Broadband LLC
	35	8.50%, 10/15/2015		33
		MetroPCS Wireless, Inc.
	30	9.25%, 11/01/2014		30
		Seagate Technology International
	15	10.00%, 05/01/2014 * ■		15
		Sprint Capital Corp.
	10	6.90%, 05/01/2019		9
		Sprint Nextel Corp.
	12	6.00%, 12/01/2016		10
				536
		Transportation — 0.0%
		American Rail Car Industries, Inc.
	15	7.50%, 03/01/2014		12
		Continental Airlines, Inc.
	22	9.80%, 04/01/2021		13
		Navios Maritime Holdings
	20	9.50%, 12/15/2014		12
				37
		Utilities — 0.8%
		Dynegy Holdings, Inc.
	40	8.38%, 05/01/2016		32
		Edison Mission Energy
	15	7.20%, 05/15/2019		11
	15	7.50%, 06/15/2013		13
		El Paso Corp.
	25	12.00%, 12/12/2013		27
		Energy Future Holdings
	45	10.88%, 11/01/2017		31
		Ipalco Enterprises, Inc.
	30	7.25%, 04/01/2016 ■		28
		Kinder Morgan Finance Co.
	40	5.70%, 01/05/2016		35
		National Power Corp.
	55	9.63%, 05/15/2028		53
		NRG Energy, Inc.
	40	7.38%, 01/15/2017		38
		Reliant Energy, Inc.
	25	6.75%, 12/15/2014		24
		Sierra Pacific Resources
	5	6.75%, 08/15/2017		4

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

12

Shares or Principal Amount ╬				Market Value ╪
CORPORATE BONDS: NON-INVESTMENT GRADE - 7.5% — (continued)
		Utilities - 0.8% — (continued)
		Tennessee Gas Pipeline Co.
$	15	8.00%, 02/01/2016 ■			$	15
		TXU Corp.
	10	5.55%, 11/15/2014				4
						315
		Total corporate bonds: non-investment grade (cost $3,557)			$	3,303
MUNICIPAL BONDS — 0.4%
		General Obligations — 0.3%
		California State GO, Taxable,
$	125	7.55%, 04/01/2039			$	131
		Transportation — 0.1%
		New Jersey State Turnpike Auth, Taxable,
	50	7.41%, 01/01/2040				54
		Total municipal bonds (cost $179)			$	185
		Total long-term investments (cost $46,956)			$	42,109
SHORT-TERM INVESTMENTS — 2.7%
		Repurchase Agreements — 2.7%
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $279, collateralized by GNMA 4.50% - 6.50%, 2038 - 2039, value of $284)
$	279	0.18%, 04/30/2009			$	279
		BNP Paribas Securities Corp. TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $333, collateralized by FHLMC 4.50% - 6.50%, 2035 - 2039, FNMA 4.50% - 6.50%, 2034 - 2047, value of $340)
	333	0.17%, 04/30/2009				333
		Deutsche Bank Securities TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $466, collateralized by FHLMC 4.00% - 7.00%, 2021 - 2039, FNMA 6.00% - 7.00%, 2034 - 2038, GNMA 4.50% - 7.00%, 2024 - 2039, value of $475)
	466	0.17%, 04/30/2009				466
		UBS Securities, Inc. Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $2, collateralized by U.S. Treasury Bond 7.50%, 2024, value of $2)
	2	0.14%, 04/30/2009				2
		UBS Securities, Inc. TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $100, collateralized by FHLMC 8.00% - 15.00%, 2009 - 2021, FNMA 3.50% - 15.50%, 2012 - - 2039, value of $102)
	100	0.16%, 04/30/2009				100
						1,180
		Total short-term investments (cost $1,180)			$	1,180
		Total investments (cost $48,136) ▲	98.2	%	$	43,289
		Other assets and liabilities	1.8	%		812
		Total net assets	100.0	%	$	44,101

Note:	Percentage of investments as shown is the ratio of the total market value to total net assets. Market value of investments in foreign securities represents 8.03% of total net assets at April 30, 2009.
	Foreign securities that are principally traded on certain foreign markets are adjusted daily pursuant to a third party pricing service methodology approved by the Board of Directors in order to reflect an adjustment for factors occurring after the close of the foreign market but before the close of the New York Stock Exchange.
▲	At April 30, 2009, the cost of securities for federal income tax purposes was $48,357 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	1,050
Unrealized Depreciation		(6,118	)
Net Unrealized Depreciation	$	(5,068	)

•	Currently non-income producing. For long-term debt securities, items identified are in default as to payment of interest and/or principal.
‡	This security, or a portion of this security, has been segregated to cover funding requirements on investment transactions settling in the future.
D	Variable rate securities; the rate reported is the coupon rate in effect at April 30, 2009.
■	Securities issued within terms of a private placement memorandum, exempt from registration under Rule 144A under the Securities Act of 1933, as amended, and may be sold only to qualified institutional buyers. Pursuant to guidelines adopted by the Board of Directors, these issues are determined to be liquid. The aggregate value of these securities at April 30, 2009, was $2,296, which represents 5.21% of total net assets.

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

13

The Hartford Balanced Income Fund
Schedule of Investments — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

§	Securities contain some restrictions as to public resale. These securities comply with Regulation S, rules governing offers and sales made outside the United States without registration under the Securities Act of 1933, and are determined to be liquid. At April 30, 2009, the market value of these securities amounted to $505 or 1.15% of total net assets.
۞	Convertible security.
*	The cost of securities purchased on a when-issued or delayed delivery basis at April 30, 2009 was $88.
Ψ	The company is in bankruptcy. The investment held by the fund is current with respect to interest payments.

GO — General Obligations

Forward Foreign Currency Contracts Outstanding at April 30, 2009

							Unrealized
	Market		Contract		Delivery		Appreciation/
Description	Value ╪		Amount		Date		(Depreciation)
Brazilian Real (Sell)	$	2	$	2		06/17/09	$	—
Brazilian Real (Sell)		54		50		06/17/09		(4	)
British Pound (Buy)		107		106		05/01/09		1
British Pound (Buy)		91		91		05/05/09		—
British Pound (Buy)		138		138		05/06/09		—
Chinese Renminbi (Sell)		33		31		09/21/09		(2	)
Chinese Renminbi (Buy)		32		32		09/21/09		—
Chinese Renminbi (Sell)		11		11		02/22/10		—
Colombian Peso (Sell)		41		41		05/22/09		—
Colombian Peso (Sell)		4		4		06/17/09		—
Euro (Sell)		66		65		05/04/09		(1	)
Euro (Sell)		11		11		05/04/09		—
Euro (Sell)		35		34		06/17/09		(1	)
Euro (Buy)		80		78		06/17/09		2
Euro (Sell)		25		26		06/17/09		1
Euro (Buy)		11		11		06/17/09		—
Euro (Sell)		88		84		06/17/09		(4	)
Euro (Sell)		24		24		06/17/09		—
Hungarian Forint (Sell)		17		17		05/07/09		—
Hungarian Forint (Buy)		16		16		06/17/09		—
Hungarian Forint (Sell)		16		14		06/17/09		(2	)
Indonesian Rupiah (Sell)		14		15		07/16/09		1
Indonesian Rupiah (Buy)		15		16		07/16/09		(1	)
Kazakhstani Tenge (Sell)		20		24		05/15/09		4
Kazakhstani Tenge (Buy)		8		8		05/15/09		—
Mexican New Peso (Sell)		25		22		06/17/09		(3	)
Mexican New Peso (Buy)		25		24		06/17/09		1
New Romanian Leu (Sell)		13		12		06/17/09		(1	)
New Romanian Leu (Buy)		13		13		06/17/09		—
Nigerian Naira (Sell)		13		11		05/06/09		(2	)
Peruvian New Sol (Sell)		12		11		06/05/09		(1	)
Peruvian New Sol (Buy)		11		11		06/05/09		—
Polish Zloty (Buy)		26		26		06/17/09		—
Republic of Korea Won (Sell)		12		16		07/01/09		4
Republic of Korea Won (Buy)		12		14		07/01/09		(2	)
Turkish New Lira (Sell)		21		21		06/17/09		—
Turkish New Lira (Sell)		15		13		06/17/09		(2	)
Vietnamese Dong (Sell)		22		21		05/29/09		(1	)
							$	(13	)

╪ See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of securities.

FAS 157 Disclosure of Investment Valuation Hierarchy Levels

Assets:
Investment in securities — Level 1	$	18,475
Investment in securities — Level 2		24,674
Investment in securities — Level 3		140
Total	$	43,289
Other financial instruments — Level 2 *		14
Total	$	14
Liabilities:
Other financial instruments — Level 2 *		27
Total	$	27

* Other financial instruments are derivative instruments not reflected in the Schedule of Investments, such as futures, forwards and swap contracts, which are valued at the unrealized appreciation/depreciation on the investment.

Following is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value:

Assets:
Securities:
Balance as of October 31, 2008	$	224
Net realized loss		(72	)
Change in unrealized appreciation ♦		82
Net sales		(125	)
Transfers in and /or out of Level 3		31
Balance as of April 30, 2009	$	140

♦ Change in unrealized gains or losses relating to assets still held at April 30, 2009 $ 19

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

14

The Hartford Balanced Income Fund

Statement of Assets and Liabilities
April 30, 2009 (Unaudited)
(000’s Omitted)

Assets:
Investments in securities, at fair value (cost $48,136)	$	43,289
Cash		24
Foreign currency on deposit with custodian (cost $—)		—
Unrealized appreciation on forward foreign currency contracts		14
Receivables:
Investment securities sold		833
Fund shares sold		618
Dividends and interest		451
Other assets		30
Total assets		45,259
Liabilities:
Unrealized depreciation on forward foreign currency contracts		27
Payables:
Investment securities purchased		978
Fund shares redeemed		123
Investment management fees		5
Distribution fees		3
Accrued expenses		16
Other liabilities		6
Total liabilities		1,158
Net assets	$	44,101
Summary of Net Assets:
Capital stock and paid-in-capital		57,928
Accumulated undistributed net investment income		140
Accumulated net realized loss on investments and foreign currency transactions		(9,107	)
Unrealized depreciation of investments and the translation of assets and liabilities denominated in foreign currency		(4,860	)
Net assets	$	44,101
Shares authorized		800,000
Par value	$	0.001
Class A: Net asset value per share/Maximum offering price per share	$	7.97/$8.43
Shares outstanding		4,647
Net assets	$	37,048
Class B: Net asset value per share	$	7.95
Shares outstanding		319
Net assets	$	2,537
Class C: Net asset value per share	$	7.94
Shares outstanding		558
Net assets	$	4,426
Class Y: Net asset value per share	$	7.98
Shares outstanding		11
Net assets	$	90

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

15

The Hartford Balanced Income Fund

Statement of Operations
For the Six Month Period Ended April 30, 2009 (Unaudited)
(000’s Omitted)

Investment Income:
Dividends	$	445
Interest		834
Less: Foreign tax withheld		(6	)
Total investment income		1,273
Expenses:
Investment management fees		147
Transfer agent fees		32
Distribution fees
Class A		43
Class B		10
Class C		20
Custodian fees		7
Accounting services		4
Registration and filing fees		20
Board of Directors’ fees		1
Audit fees		3
Other expenses		11
Total expenses (before waivers and fees paid indirectly)		298
Expense waivers		(20	)
Transfer agent fee waivers		(1	)
Commission recapture		(1	)
Custodian fee offset		—
Total waivers and fees paid indirectly		(22	)
Total expenses, net		276
Net investment income		997
Net Realized Loss on Investments, Other Financial Instruments and Foreign Currency Transactions:
Net realized loss on investments in securities		(6,618	)
Net realized gain on futures		73
Net realized gain on foreign currency transactions		14
Net Realized Loss on Investments, Other Financial Instruments and Foreign Currency Transactions		(6,531	)
Net Changes in Unrealized Appreciation of Investments, Other Financial Instruments and Foreign Currency Transactions:
Net unrealized appreciation of investments		5,429
Net unrealized depreciation of futures		(3	)
Net unrealized depreciation on translation of other assets and liabilities in foreign currencies		(21	)
Net Changes in Unrealized Appreciation of Investments, Other Financial Instruments and Foreign Currency Transactions		5,405
Net Loss on Investments, Other Financial Instruments and Foreign Currency Transactions		(1,126	)
Net Decrease in Net Assets Resulting from Operations	$	(129	)

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

16

The Hartford Balanced Income Fund

Statement of Changes in Net Assets

(000’s Omitted)

	For the Six-Month
	Period Ended			For the
	April 30, 2009			Year Ended
	(Unaudited)			October 31, 2008
Operations:
Net investment income	$	997		$	2,057
Net realized loss on investments, other financial instruments and foreign currency transactions		(6,531	)		(2,526	)
Net unrealized appreciation (depreciation) of investments, other financial instruments and foreign currency transactions		5,405			(11,847	)
Net decrease in net assets resulting from operations		(129	)		(12,316	)
Distributions to Shareholders:
From net investment income
Class A		(921	)		(1,785	)
Class B		(50	)		(79	)
Class C		(95	)		(159	)
Class Y		(3	)		(5	)
From net realized gain on investments
Class A		—			(167	)
Class B		—			(9	)
Class C		—			(18	)
Class Y		—			(1	)
Total distributions		(1,069	)		(2,223	)
Capital Share Transactions:
Class A		1,539			8,506
Class B		626			359
Class C		545			1,103
Class Y		3			5
Net increase from capital share transactions		2,713			9,973
Net increase (decrease) in net assets		1,515			(4,566	)
Net Assets:
Beginning of period		42,586			47,152
End of period	$	44,101		$	42,586
Accumulated undistributed net investment income	$	140		$	212

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

17

The Hartford Balanced Income Fund

Notes to Financial Statements
April 30, 2009 (Unaudited)
(000’s Omitted)

1.	Organization:
	The Hartford Mutual Funds, Inc. (“Company”) is an open-end management investment company comprised of fifty-two portfolios. Financial statements for The Hartford Balanced Income Fund (the “Fund”), a series of the Company, are included in this report.
	The Company is organized under the laws of the State of Maryland and is registered with the Securities and Exchange Commission (“SEC”) under the Investment Company Act of 1940, as amended (“1940 Act”). The Fund is a diversified open-end management investment company.
	Class A shares are sold with a front-end sales charge of up to 5.50%. Class B shares are sold with a contingent deferred sales charge which is assessed on the lesser of the per share net asset value (“NAV”) of the shares at the time of redemption or the original purchase price, and declines from up to 5.00% to zero depending on the period of time the shares are held. Class C shares are sold with a contingent deferred sales charge of up to 1.00% on shares redeemed within twelve months of purchase. Class Y shares, which are sold to certain eligible institutional investors, are sold without a sales charge. All classes of shares have identical voting, redemption, dividend, liquidation and other rights and the same terms and conditions, with the exceptions that each class may have different expenses, which may affect performance, and except that Class B shares automatically convert to Class A shares after 8 years.
	Effective at the close of business on September 30, 2009 (the “Close Date”), no new or additional investments will be allowed in Class B shares of The Hartford Mutual Funds (including investments through any systematic investment plan). After the Close Date, existing shareholders of Class B shares may continue to hold their Class B shares, exchange their Class B shares for Class B shares of another Hartford Mutual Fund (as permitted by existing exchange privileges), and redeem their Class B shares as described in the Fund’s prospectus. Reinstatement privileges with respect to Class B shares will continue under the current policy. If you have chosen to reinvest capital gains and dividends, any such capital gains or dividends on Class B shares will continue to be reinvested in Class B shares of the Fund. For Class B shares outstanding as of the Close Date, all Class B share attributes, including the 12b-1 fee, contingent deferred sales charge schedule, and conversion to Class A shares remain unchanged.
2.	Significant Accounting Policies:
	The following is a summary of significant accounting policies of the Fund, which are in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”).

a)	Security Transactions and Investment Income — Security transactions are recorded on the trade date (the date the order to buy or sell is executed). Security gains and losses are determined on the basis of identified cost.
	Dividend income is accrued as of the ex-dividend date, except that certain dividends for foreign securities where the ex-dividend date may have passed are recorded as soon as the Fund is informed of the dividend in the exercise of reasonable diligence. Interest income, including amortization of premium and accretion of discounts, is accrued on a daily basis.
b)	Security Valuation — The Fund generally uses market prices in valuing portfolio securities. If market prices are not readily available or are deemed unreliable, the Fund will use the fair value of the security as determined in good faith under policies and procedures established by and under the supervision of the Fund’s Board of Directors. Market prices may be deemed unreliable, for example, if a security is thinly traded or if an event has occurred after the close of the security’s primary markets, but before the close of the New York Stock Exchange (the “Exchange”) (normally 4:00 p.m. Eastern Time, referred to as the “Valuation Time”) that is expected to affect the value of the portfolio security. The circumstances in which the Fund may use fair value pricing include, among others: (i) the occurrence of events that are significant to a particular issuer, such as mergers, restructuring or defaults; (ii) the occurrence of events that are significant to an entire market, such as natural disasters in a particular region or governmental actions; (iii) trading restrictions on securities; (iv) thinly traded securities and (v) market events such as trading halts and early market

18

closings. In addition, with respect to the valuation of stocks primarily traded on foreign markets, the Fund uses a fair value pricing service approved by the Fund’s Board of Directors, which employs quantitative models that evaluate changes in the value of foreign market proxies (e.g., futures contracts, ADR’s, exchange traded funds (“ETF’s”)) after the close of the foreign markets but before the close of the Exchange. Securities that are primarily traded on foreign markets may trade on days that are not business days of the Fund. The value of the foreign securities in which the Fund invests may change on days when a shareholder will not be able to purchase or redeem shares of the Fund. Fair value pricing is subjective in nature and the use of fair value pricing by the Fund may cause the NAV of its shares to differ significantly from the NAV that would have been calculated using market prices at the close of the exchange on which a portfolio security is primarily traded but before the close of the Exchange. There can be no assurance that the Fund could obtain the fair value assigned to a security if the Fund were to sell the security at approximately the time at which the Fund determines its NAV.

Debt securities (other than short-term obligations and senior floating rate interests) held by the Fund are valued on the basis of valuations furnished by an independent pricing service which determines valuations for normal institutional size trading units of debt securities. Senior floating rate interests generally trade in over-the-counter markets and are priced through an independent pricing service utilizing independent market quotations from loan dealers or financial institutions. Securities for which prices are not available from an independent pricing service are valued using market quotations obtained from one or more dealers that make markets in the securities in accordance with procedures established by the Fund’s Board of Directors. Generally, the Fund may use fair valuation in regard to debt securities when the Fund holds defaulted or distressed securities or securities in a company in which a reorganization is pending. Short-term investments with a maturity of more than 60 days when purchased are valued based on market quotations until the remaining days to maturity become less than 61 days. Investments that mature in 60 days or less are valued at amortized cost, which approximates market value.

Securities of foreign issuers and non-dollar securities are translated from the local currency into U.S. dollars using prevailing exchange rates.

Options contracts on securities, currencies, indexes, futures contracts, commodities and other instruments shall be valued at their most recent sales price at the Valuation Time on the Primary Market on which the instrument is primarily traded. If the instrument did not trade on the Primary Market, it may be valued at the most recent sales price at the Valuation Time on another exchange or market where it did trade.

Futures contracts are valued at the most recent settlement price reported by an exchange on which, over time, they are traded most extensively. If a settlement price is not available, futures contracts will be valued at the most recent trade price as of the Valuation Time. If there were no trades, the contract shall be valued at the mean of the closing bid/ask prices as of the Valuation Time.

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

A forward currency contract shall be valued based on the price of the underlying currency at the prevailing interpolated exchange rate, which is a combination of the spot currency rate and the forward currency rate. Spot currency rates and forward currency rates are obtained from an independent pricing service on a daily basis not more than one hour before the Valuation Time.

Other derivative or contractual type instruments shall be valued using market prices if such instruments trade on an exchange or market. If such instruments do not trade on an exchange or market, such instruments shall be valued at a price at which the counterparty to such contract would repurchase the instrument. In the event that the counterparty cannot provide a price, such valuation may be determined in accordance with procedures established by the Fund’s Board of Directors.

19

The Hartford Balanced Income Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

c)	Foreign Currency Transactions — The accounting records of the Fund are maintained in U.S. dollars. All assets and liabilities initially expressed in foreign currencies are converted into U.S. dollars at the prevailing exchange rates. Purchases and sales of investment securities, dividend and interest income and certain expenses are translated at the rates of exchange prevailing on the respective dates of such transactions.
	The Fund does not isolate that portion of portfolio security valuation resulting from fluctuations in the foreign currency exchange rates on portfolio securities from the fluctuations arising from changes in the market prices of securities held. Such fluctuations are included with the net realized and unrealized gain or loss on investments in the accompanying financial statements.
	Net realized foreign exchange gains or losses arise from sales of foreign currencies and the difference between asset and liability amounts initially stated in foreign currencies and the U.S. dollar value of the amounts actually received or paid. Net unrealized foreign exchange gains or losses arise from changes in the value of other assets and liabilities at the end of the reporting period, resulting from changes in the exchange rates.
d)	Joint Trading Account — Pursuant to an exemptive order issued by the SEC, the Fund may transfer uninvested cash balances into a joint trading account managed by Wellington Management Company, LLP (“Wellington”). These balances may be invested in one or more repurchase agreements and/or short-term money market instruments.
e)	Repurchase Agreements — A repurchase agreement is an agreement by which the seller of a security agrees to repurchase the security sold at a mutually agreed upon time and price. At the time the Fund enters into a repurchase agreement, the value of the underlying collateral security(ies), including accrued interest, will be equal to or exceed the value of the repurchase agreement. Securities that serve to collateralize the repurchase agreement are held by the Fund’s custodian in book entry or physical form in the custodial account of the Fund or in a third party custodial account. Repurchase agreements are valued at cost plus accrued interest. The Fund, as shown on the Schedule of Investments, had outstanding repurchase agreements as of April 30, 2009.
f)	Forward Foreign Currency Contracts — The Fund may enter into forward foreign currency contracts that obligate the Fund to repurchase/replace or sell currencies at specified future dates. Forward foreign currency contracts may be used to hedge against adverse fluctuations in exchange rates between currencies.
	Forward foreign currency contracts involve elements of market risk in excess of the amount reflected in the Statement of Assets and Liabilities. In addition, risks may arise upon entering into these contracts from the potential inability of the counterparties to meet the terms of the contracts and from unanticipated movements in the value of the foreign currencies relative to the U.S. dollar.
g)	Fund Share Valuation and Dividend Distributions to Shareholders — Orders for the Fund’s shares are executed in accordance with the investment instructions of the shareholders. The NAV of the Fund’s shares is determined as of the close of each business day of the Exchange. The NAV is determined separately for each class of the Fund by dividing the Fund’s net assets attributable to that class by the number of shares of the class outstanding. Orders for the purchase of the Fund’s shares prior to the close of the Exchange on any day on which the Exchange is open for business are priced at the NAV determined as of the close of the Exchange. Orders after the close of the Exchange, or on a day on which the Exchange and/or the Fund is not open for business, are priced at the next determined NAV.
	The Fund intends to distribute substantially all of its net investment income and net realized capital gains to shareholders no less frequently than once a year. Normally, dividends from net investment income are declared and paid quarterly. Dividends are paid on shares beginning on the business day after the day when the funds used to purchase the shares are collected by the transfer agent for the Fund. Unless shareholders specify otherwise, all dividends will be automatically reinvested in additional full or fractional shares of the Fund.

20

	Distributions from net investment income, realized capital gains and capital are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP with respect to character and timing. These differences include but are not limited to foreign currency gains and losses, losses deferred due to wash sales adjustments, adjustments related to Passive Foreign Investment Companies and certain derivatives, and excise tax regulations. Permanent book and federal income tax basis differences relating to shareholder distributions will result in reclassifications to certain of the Fund’s capital accounts (see Federal Income Taxes: Reclassification of Capital Accounts footnote).
h)	Illiquid and Restricted Securities — The Fund is permitted to invest up to 15% of its net assets in illiquid securities. “Illiquid Securities” are those that may not be sold or disposed of in the ordinary course of business within seven days, at approximately the price used to determine the Fund’s NAV. The Fund may not be able to sell illiquid securities or other investments when its sub-adviser considers it desirable to do so or may have to sell such securities or investments at a price that is lower than the price that could be obtained if the securities or investments were more liquid. A sale of illiquid securities or other investments may require more time and may result in higher dealer discounts and other selling expenses than does the sale of those that are liquid. Illiquid securities and investments also may be more difficult to value, due to the unavailability of reliable market quotations for such securities or investments, and investment in them may have an adverse impact on the Fund’s NAV. The Fund may also purchase certain restricted securities, commonly known as Rule 144A securities, that can be resold to institutions and which may be determined to be liquid pursuant to policies and guidelines established by the Fund’s Board of Directors. The Fund, as shown in the Schedule of Investments, had illiquid or restricted securities as of April 30, 2009.
i)	Securities Purchased on a When-Issued or Delayed-Delivery Basis — Delivery and payment for securities that have been purchased by the Fund on a forward commitment, or when-issued or delayed-delivery basis take place beyond the customary settlement period. During this period, such securities are subject to market fluctuations, and the Fund identifies securities segregated in its records with value at least equal to the amount of the commitment. As of April 30, 2009, the Fund had entered into outstanding when-issued or forward commitments with a cost of $88.
j)	Credit Risk — Credit risk depends largely on the perceived financial health of bond issuers. In general, the credit rating is inversely related to the credit risk of the issuer. Higher rated bonds generally are deemed to have less credit risk, while lower or unrated bonds are deemed to have higher risk of default. The share price, yield and total return of a Fund which holds securities with higher credit risk may fluctuate more than with less aggressive bond funds.
k)	Prepayment Risks — Most senior floating rate interests and certain debt securities allow for prepayment of principal without penalty. Senior floating rate interests and securities subject to prepayment risk generally offer less potential for gains when interest rates decline, and may offer a greater potential for loss when interest rates rise. In addition, with respect to securities, rising interest rates may cause prepayments to occur at a slower than expected rate, thereby effectively lengthening the maturity of the security and making the security more sensitive to interest rate changes. Prepayment risk is a major risk of mortgage-backed securities and certain asset-backed securities. Accordingly, the potential for the value of a senior floating rate interest or debt security to increase in response to interest rate declines is limited. For certain asset-backed securities, the actual maturity may be less than the stated maturity shown in the Schedule of Investments. As a result, the timing of income recognition relating to these securities may vary based upon the actual maturity.
l)	Use of Estimates — The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and the reported amounts of income and expenses during the period. Operating results in the future could vary from the amounts derived from management’s estimates.
m)	Financial Accounting Standards Board Financial Accounting Standards No. 157 — Effective November 1, 2008, the Fund adopted Financial Accounting Standards Board (“FASB”) Statement of Financial Accounting Standards No. 157, “Fair Value Measurements” (“FAS 157”). This standard clarifies the definition of fair value for financial reporting, establishes a framework for measuring fair value and requires additional disclosures about the use of fair value

21

The Hartford Balanced Income Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

measurements. Fair value is defined under FAS 157 as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Under FAS 157, a fair value measurement should reflect all of the assumptions that market participants would use in pricing the asset or liability, including assumptions about the risk inherent in a particular valuation technique, the effect of a restriction on the sale or use of an asset, and the risk of nonperformance.

Various inputs are used in determining the value of the Fund’s investment. These inputs are summarized, per FAS 157, into three broad hierarchy levels. This hierarchy is based on whether the valuation inputs are observable or unobservable. These levels are:

• Level 1 — Quoted prices in active markets for identical securities. Level 1 includes exchange-traded instruments such as domestic equities, some foreign equities, options, futures, mutual funds, ETF’s, and rights and warrants.

• Level 2 — Observable inputs other than Level 1 prices, such as quoted prices for similar securities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the security. Level 2 includes debt securities that are traded less frequently than exchange-traded instruments and that are valued using third party pricing services and foreign equities, whose value is determined using a multi-factor regression model with inputs that are observable in the market; and money market instruments, which are carried at amortized cost.

• Level 3 — Significant unobservable inputs that are supported by little or no market activity. Level 3 includes financial instruments whose values are determined using broker quotes and require significant management judgment or estimation. This category includes broker quoted securities, long dated OTC options and securities where trading has been halted or there are certain restrictions on trading. While these securities are priced using unobservable inputs, the valuation of these securities reflects the best available data and management believes the prices are a good representation of exit price.

	Individual securities within any of the above mentioned asset classes may be assigned a different hierarchical level than those presented above, as individual circumstances dictate.
	FAS 157 also requires that a roll forward reconciliation be shown for all Level 3 securities from the beginning of the reporting period to the end of the reporting period. Part of this reconciliation includes transfers in and/or out of Level 3. For purposes of this reconciliation, transfers in are shown at the end of period fair value and transfers out are shown at the beginning of period fair value.
	Refer to the valuation hierarchy levels summary and the Level 3 roll forward reconciliation found following the Schedule of Investments.
	FASB Staff Position No. 157-4 — In April 2009, FASB released FASB Staff Position No. 157-4, “Determining Fair Value When the Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly” (“FSP FAS 157-4”). FSP FAS 157-4 provides additional guidance on determining whether a market for a financial asset is not active and a transaction is not distressed when measuring fair value under FAS 157. The FSP also requires additional disclosure detail on debt and equity securities by major investment categories. FSP FAS 157-4 is effective for interim and annual periods ending after June 15, 2009. At this time, management is evaluating the implications of FSP FAS 157-4 and does not believe it will impact valuation but will require additional disclosure. This additional disclosure has not yet been implemented.
n)	Financial Accounting Standards Board Financial Accounting Standards No. 161 — In March 2008, the FASB released Statement of Financial Accounting Standards No. 161, “Disclosures about Derivative Instruments and Hedging Activities” (“FAS 161”). FAS 161 requires companies to disclose information detailing the objectives and strategies for using derivative instruments, the level of derivative activity entered into by the company and any credit risk-related contingent features of the agreements. The application of FAS 161 is required for fiscal years and interim periods

22

beginning after November 15, 2008. At this time, management is evaluating the implications of FAS 161 and has not yet implemented the new disclosure standard.

o)

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

3. Futures and Options:

Futures and Options Transactions — The Fund may invest in futures and options contracts in order to gain exposure to or protect against changes in the market. A futures contract is an agreement between two parties to buy and sell a security at a set price on a future date. When the Fund enters into such futures contracts, it is required to deposit with a futures commission merchant an amount of “initial margin” of cash, commercial paper or U.S. Treasury Bills. Subsequent payments, called variation margin, to and from the broker, are made on a daily basis as the price of the underlying security fluctuates, making the long and short positions in the futures contract more or less valuable (i.e., mark-to-market), which results in an unrealized gain or loss to the Fund.

At any time prior to the expiration of the futures contract, the Fund may close the position by taking an opposite position, which would effectively terminate the position in the futures contract. A final determination of variation margin is then made, additional cash is required to be paid by or released to the Fund and the Fund realizes a gain or loss.

The use of futures contracts involves elements of market risk, which may exceed the amounts recognized in the Statement of Assets and Liabilities. Changes in the value of the futures contracts may decrease the effectiveness of the Fund’s strategy and potentially result in loss. As of April 30, 2009, there were no outstanding futures contracts.

The premium paid by the Fund for the purchase of a call or put option is included in the Fund’s Statement of Assets and Liabilities as an investment and subsequently “marked-to-market” through net unrealized appreciation (depreciation) of options to reflect the current market value of the option as of the end of the reporting period.

The Fund may write (sell) covered options. “Covered” means that so long as the Fund is obligated as the writer of an option, it will own either the underlying securities or currency or an option to purchase or sell the same underlying securities or currency having an expiration date of the covered option and an exercise price equal to or less than the exercise price of the covered option, or will pledge cash or other liquid securities having a value equal to or greater than the fluctuating market value of the option securities or currencies. The Fund receives a premium for writing a call or put option, which is recorded on the Fund’s Statement of Assets and Liabilities and subsequently “marked-to-market” through net unrealized appreciation (depreciation) of options. There is a risk of loss from a change in the value of such options, which may exceed the related premiums received. As of April 30, 2009, there were no outstanding written options contracts.

4. Federal Income Taxes:

a) Federal Income Taxes — For federal income tax purposes, the Fund intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code (“IRC”) by distributing substantially all of its taxable net investment income and net realized capital gains to its shareholders and otherwise complying with the requirements of regulated investment companies. The Fund has distributed substantially all of its income and capital gains in prior years and the Fund intends to distribute substantially all of its income and gains during the calendar year ending December 31, 2009. Accordingly, no provision for federal income or excise taxes has been made in the accompanying financial statements. Distributions from short-term capital gains are treated as ordinary income distributions for federal income tax purposes.

23

The Hartford Balanced Income Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

b) The tax character of distributions paid by the Fund for the periods indicated is as follows (as adjusted for dividends payable):

	For the Year Ended		For the Year Ended
	October 31, 2008		October 31, 2007
Ordinary Income	$	2,204	$	870
Long-Term Capital Gains *		19	—

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

As of October 31, 2008, the Fund’s components of distributable earnings (deficit) on a tax basis were as follows:

	Amount
Undistributed Ordinary Income	$	302
Accumulated Capital Losses*	$	(2,352	)
Unrealized Depreciation†	$	(10,579	)
Total Accumulated Deficit	$	(12,629	)

*	The Fund has capital loss carryforwards that are identified in the Capital Loss Carryforward note that follows.
†	The differences between book-basis and tax-basis unrealized appreciation (depreciation) are attributable to the tax deferral of wash sales losses, the mark-to-market adjustment for certain derivatives in accordance with IRC Sec. 1256, the mark to market for Passive Foreign Investment Companies and basis differences in real estate investment trusts.

c)

Reclassification of Capital Accounts — In accordance with American Institute of Certified Public Accountants (AICPA) Statement of Position 93-2, Determination, Disclosure, and Financial Statement Presentation of Income, Capital Gain, and Return of Capital Distributions by Investment Companies, the Fund has recorded reclassifications in its capital accounts. These reclassifications had no impact on the NAV of the Fund. The reclassifications are a result of permanent differences between GAAP and tax accounting for such items as net operating losses that reduce distribution requirements. Adjustments are made to reflect the impact these items have on current and future distributions to shareholders. Therefore, the source of the Fund’s distributions may be shown in the accompanying Statement of Changes in Net Assets as from net investment income, from net realized gains on investments or from capital depending on the type of book and tax differences that exist. As of October 31, 2008, the Fund recorded reclassifications to increase undistributed net investment income by $36 and decrease accumulated net realized loss by $36.

d)

Capital Loss Carryforward — At October 31, 2008 (tax-year-end), the Fund had capital loss carryforwards for U.S. federal income tax purposes of approximately:

Year	Amount
2016	$	2,352
Total	$	2,352

e) Financial Accounting Standards Board Interpretation No. 48 — On July 13, 2006, the FASB released FASB Interpretation No. 48 “Accounting for Uncertainty in Income Taxes” (“FIN 48”). FIN 48 provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. The Fund adopted FIN 48 for fiscal years beginning after December 15, 2006. Management has evaluated the implications of FIN 48 for all open tax years (tax years ended October 31, 2006 — 2008) and has determined there is no impact to the Fund’s financial statements.

24

5. Expenses:

a)

Investment Management Agreements — Hartford Investment Financial Services, LLC (“HIFSCO”) serves as investment manager to the Fund pursuant to an Investment Management Agreement with The Hartford Mutual Funds, Inc. As investment manager, HIFSCO has overall investment supervisory responsibility for the Fund. In addition, HIFSCO provides administrative personnel, services, equipment, facilities and office space for proper operation of the Fund. HIFSCO has contracted with Wellington for the provision of day-to-day investment management services to the Fund in accordance with the Fund’s investment objective and policies. The Fund pays a fee to HIFSCO, a portion of which may be used to compensate Wellington.

The schedule below reflects the rates of compensation paid to HIFSCO for investment management services rendered during the six-month period ended April 30, 2009; the rates are accrued daily and paid monthly:

Average Daily Net Assets	Annual Fee
On first $250 million		0.7250	%
On next $250 million		0.7000	%
On next $500 million		0.6750	%
On next $4 billion		0.6500	%
On next $5 billion		0.6475	%
Over $10 billion		0.6450	%

b) Accounting Services Agreement — Pursuant to the Fund Accounting Agreement between Hartford Life Insurance Company (“HLIC”) and the Fund, HLIC provides accounting services to the Fund and receives monthly compensation on the Fund’s average net assets. The Fund’s accounting service fees are accrued daily and paid monthly.

Average Daily Net Assets	Annual Fee
On first $5 billion		0.018	%
On next $5 billion		0.016	%
Over $10 billion		0.014	%

c) Operating Expenses — Allocable expenses incurred by the Company are allocated to each Fund and allocated to classes within the Fund in proportion to the average daily net assets of the Fund and each class, except where allocation of certain expenses is more fairly made directly to the Fund or to specific classes within a Fund. During the six-month period ended April 30, 2009, HIFSCO has contractually limited the total operating expenses of this Fund, exclusive of taxes, interest expense, brokerage commissions, certain distribution expenses and extraordinary expenses as follows:

Class A	Class B	Class C	Class Y
1.25%	2.00%	2.00%	0.90%

d)

Fees Paid Indirectly — The Fund has entered into agreements with State Street Global Markets, LLC and Russell Implementation Services Inc. to partially recapture non-discounted trade commissions. Such rebates are used to pay a portion of the Fund’s expenses. In addition, the Fund’s custodian bank has also agreed to reduce its fees when the Fund maintains cash on deposit in the non-interest-bearing custody account. For the six-month period ended April 30, 2009, these amounts are included in the Statement of Operations.

The ratio of expenses to average net assets in the accompanying financial highlights excludes the reduction in expenses related to fees paid indirectly. Had the fees paid indirectly been included, the annualized expense ratio for the periods listed below would have been as follows:

25

The Hartford Balanced Income Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

	Annualized
	Six-Month
	Period			Year Ended			Year Ended			Year Ended
	Ended April			October 31,			October 31,			October 31,
	30, 2009			2008			2007			2006
Class A Shares		1.25	%		1.25	%		1.19	%	1.25%*
Class B Shares		1.95			2.00			2.00		2.00†
Class C Shares		2.00			2.00			2.00		2.00‡
Class Y Shares		0.90			0.90			0.90		0.90§

*	From July 31, 2006 (commencement of operations), through October 31, 2006
†	From July 31, 2006 (commencement of operations), through October 31, 2006
‡	From July 31, 2006 (commencement of operations), through October 31, 2006
§	From July 31, 2006 (commencement of operations), through October 31, 2006

e)	Distribution and Service Plan for Class A, B and C Shares — HIFSCO is the principal underwriter and distributor of the Fund. HIFSCO is engaged in distribution activities, which include marketing and distribution of shares through broker-dealers, financing distribution costs and maintaining financial books and records. For the six-month period ended April 30, 2009, HIFSCO received front-end load sales charges of $207 and contingent deferred sales charges of $4 from the Fund.
	The Fund has adopted Distribution and Service Plans in accordance with Rule 12b-1 of the Investment Company Act of 1940, as amended, to compensate the distributor (HIFSCO) for activities intended to result in the sale and distribution of Classes A, B and C shares and for providing services for shareholders. The Rule 12b-1 plan applicable to Class A shares of the Funds provides for payment of a Rule 12b-1 fee of up to 0.35% of average daily net assets; however, the Board of Directors has currently authorized 12b-1 payments of only up to 0.25%. Some or all of the fee may be used for shareholder servicing expenses with the remainder used for distribution expenses. Some or the entire Rule 12b-1 fee for Class B shares may be remitted to broker-dealers for distribution and/or shareholder account services. Under the Class B Plan, the Fund pays the distributor 1.00% of the average daily net assets of Class B shares that are outstanding for 8 years or less, 0.25% of which is a fee for services provided to existing shareholders with the remainder used for distribution expenses. After eight years, Class B shares convert to Class A shares. Upon conversion to Class A shares, the Class A plan described above will apply to those shares. Under the Class C Plan, the Fund pays the Distributor 1.00% of the average daily net assets of Class C shares outstanding, 0.25% of which is intended as a fee for services provided to existing shareholders with the remainder used for distribution expenses. For Class C shares, some or the entire fee may be remitted to broker-dealers for distribution and/or shareholder account services. The Fund’s 12b-1 fees are accrued daily and paid monthly.
	For the six-month period ended April 30, 2009, total sales commissions paid to affiliated brokers/dealers of The Hartford for distributing the Fund’s shares were $2. These commissions are in turn paid to sales representatives of the broker/dealers.
f)	Other Related Party Transactions — Certain officers of the Fund are directors and/or officers of HIFSCO and/or The Hartford or its subsidiaries. For the six-month period ended April 30, 2009, a portion of the Fund’s chief compliance officer’s salary was paid by the Fund in an amount, which rounds to zero. Hartford Administrative Services Company (“HASCO”), an indirect wholly owned subsidiary of The Hartford, provides transfer agent services to the Fund. HASCO was compensated $32 for providing such services. These fees are accrued daily and paid monthly.

26

6.	Affiliate Holdings:
	As of April 30, 2009, affiliates of The Hartford had ownership of shares in the Fund as follows:

	Shares
Class Y		11

7.	Investment Transactions:
	For the six-month period ended April 30, 2009, the Fund’s aggregate purchases and sales of investment securities (excluding short-term investments) were as follows:

	Amount
Cost of Purchases Excluding U.S. Government Obligations	$	18,914
Sales Proceeds Excluding U.S. Government Obligations		16,385
Cost of Purchases for U.S. Government Obligations		483
Sales Proceeds for U.S. Government Obligations		486

8.	Capital Share Transactions:
	The following information is for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	For the Six-Month Period Ended April 30, 2009											For the Year Ended October 31, 2008
			Shares					Shares						Shares					Shares
			Issued for					Issued		Net Increase				Issued for					Issued		Net Increase
	Shares		Reinvested		Shares			from		(Decrease) of		Shares		Reinvested		Shares			from		(Decrease) of
	Sold		Dividends		Redeemed			Merger		Shares		Sold		Dividends		Redeemed			Merger		Shares
Class A
Shares		1,697		114		(1,607	)		—		204		1,538		193		(964	)		—		767
Amount	$	13,266	$	904	$	(12,631	)	$	—	$	1,539	$	15,554	$	1,923	$	(8,971	)	$	—	$	8,506
Class B
Shares		147		6		(71	)		—		82		111		8		(90	)		—		29
Amount	$	1,130	$	47	$	(551	)	$	—	$	626	$	1,118	$	83	$	(842	)	$	—	$	359
Class C
Shares		155		11		(97	)		—		69		233		15		(147	)		—		101
Amount	$	1,211	$	88	$	(754	)	$	—	$	545	$	2,396	$	151	$	(1,444	)	$	—	$	1,103
Class Y
Shares		—		—		—			—		—		—		1		—			—		1
Amount	$	—	$	3	$	—		$	—	$	3	$	—	$	5	$	—		$	—	$	5

The following reflects the conversion of Class B Shares into Class A Shares (reflected as Class A Shares issued and Class B shares redeemed) for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	Shares		Dollars
For the Six-Month Period Ended April 30, 2009		2	$	13
For the Year Ended October 31, 2008		3	$	33

27

The Hartford Balanced Income Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

9.	Line of Credit:
	The Fund is one of several Hartford Funds that participate in a $500 million committed revolving line of credit facility. The facility is to be used for temporary or emergency purposes. Under the arrangement, the Fund is required to own securities having a market value in excess of 300% of the total bank borrowings. The interest rate on borrowings varies depending on the nature of the loan. The facility also requires a fee to be paid based on the amount of the commitment. During the six-month period ended April 30, 2009, the Fund did not have any borrowings under this facility.
10.	Industry Classifications:
	Other than the industry classifications “Other Investment Pools and Funds” and “Exchange Traded Funds”, equity industry classifications used in this report are the Global Industry Classification Standard, which was developed by and is the exclusive property and service mark of MSCI, Inc. and Standard & Poor’s.

28

The Hartford Balanced Income Fund

Financial Highlights — (Unaudited)

	— Selected Per-Share Data — (a)																												— Ratios and Supplemental Data —
																																			Ratio of			Ratio of			Ratio of
																																			Expenses			Expenses			Expenses
																																			to Average			to Average			to Average
																																			Net Assets			Net Assets			Net Assets
																																			Before			After			After
							Net																												Waivers			Waivers			Waivers
							Realized																												and			and			and			Ratio of
							and Un-									Distrib-								Net											Reimburse-			Reimburse-			Reimburse-			Net
			Net		Pay-		realized						Dividends			utions								Increase			Net								ments and			ments and			ments and			Invest-			Port-
	Net Asset		Invest-		ments		Gain						from Net			from			Distri-					(Decrease)			Asset						Net Assets		Including			Including			Excluding			ment			folio
	Value at		ment		from		(Loss) on			Total from			Invest-			Realized			butions		Total			in Net			Value at						at End of		Expenses			Expenses			Expenses			Income to			Turn-
	Beginning		Income		(to)		Invest-			Investment			ment			Capital			from		Distri-			Asset			End of			Total			Period		not Subject			not Subject			not Subject			Average			over
Class	of Period		(Loss)		Affiliate		ments			Operations			Income			Gains			Capital		butions			Value			Period			Return(b)			(000’s)		to Cap(c)			to Cap(c)			to Cap(c)			Net Assets			Rate(d)
For the Six-Month Period Ended April 30, 2009 (Unaudited)
A	$	8.22	$	0.20	$	—	$	(0.24	)	$	(0.04	)	$	(0.21	)	$	—		$	—	$	(0.21	)	$	(0.25	)	$	7.97			(0.41	)%(e)	$	37,048		1.34	%(f)		1.25	%(f)		1.25	%(f)		5.01	%(f)		43	%
B		8.20		0.16		—		(0.22	)		(0.06	)		(0.19	)		—			—		(0.19	)		(0.25	)		7.95			(0.69	) (e)		2,537		2.29	(f)		1.95	(f)		1.95	(f)		4.26	(f)		—
C		8.19		0.17		—		(0.23	)		(0.06	)		(0.19	)		—			—		(0.19	)		(0.25	)		7.94			(0.73	) (e)		4,426		2.13	(f)		2.00	(f)		2.00	(f)		4.26	(f)		—
Y		8.24		0.21		—		(0.24	)		(0.03	)		(0.23	)		—			—		(0.23	)		(0.26	)		7.98			(0.33	) (e)		90		0.95	(f)		0.90	(f)		0.90	(f)		5.36	(f)		—
For the Year Ended October 31, 2008
A		11.02		0.40		—		(2.75	)		(2.35	)		(0.41	)		(0.04	)		—		(0.45	)		(2.80	)		8.22			(22.01	)		36,544		1.25			1.25			1.25			4.10			44
B		10.98		0.33		—		(2.74	)		(2.41	)		(0.33	)		(0.04	)		—		(0.37	)		(2.78	)		8.20			(22.53	)		1,945		2.14			2.00			2.00			3.35			—
C		10.97		0.33		—		(2.74	)		(2.41	)		(0.33	)		(0.04	)		—		(0.37	)		(2.78	)		8.19			(22.55	)		4,007		2.04			2.00			2.00			3.34			—
Y		11.03		0.44		—		(2.75	)		(2.31	)		(0.44	)		(0.04	)		—		(0.48	)		(2.79	)		8.24			(21.67	)		90		0.91			0.90			0.90			4.43			—
For the Year Ended October 31, 2007
A		10.42		0.34		—		0.59			0.93			(0.33	)		—			—		(0.33	)		0.60			11.02			9.07			40,501		1.33			1.19			1.19			3.57			27
B		10.41		0.26		—		0.59			0.85			(0.28	)		—			—		(0.28	)		0.57			10.98			8.22			2,280		2.21			2.00			2.00			2.76			—
C		10.41		0.26		—		0.58			0.84			(0.28	)		—			—		(0.28	)		0.56			10.97			8.17			4,256		2.14			2.00			2.00			2.76			—
Y		10.42		0.41		—		0.56			0.97			(0.36	)		—			—		(0.36	)		0.61			11.03			9.43			115		1.04			0.90			0.90			3.86			—
From (commencement of operations) July 31, 2006, through October 31, 2006
A(g)		10.00		0.09		—		0.39			0.48			(0.06	)		—			—		(0.06	)		0.42			10.42			4.78	(e)		11,513		1.58	(f)		1.26	(f)		1.26	(f)		3.48	(f)		8
B(h)		10.00		0.07		—		0.38			0.45			(0.04	)		—			—		(0.04	)		0.41			10.41			4.54	(e)		304		2.34	(f)		2.00	(f)		2.00	(f)		2.73	(f)		—
C(i)		10.00		0.06		—		0.40			0.46			(0.05	)		—			—		(0.05	)		0.41			10.41			4.56	(e)		400		2.39	(f)		2.00	(f)		2.00	(f)		2.67	(f)		—
Y(j)		10.00		0.10		—		0.38			0.48			(0.06	)		—			—		(0.06	)		0.42			10.42			4.83	(e)		105		1.31	(f)		0.90	(f)		0.90	(f)		3.86	(f)		—

(a)	Information presented relates to a share outstanding throughout the indicated period.
(b)	Assumes initial investment at net asset value at the beginning of each period, reinvestment of all distributions, the complete redemption of the investment at net asset value at the end of each period and no sales charge. Total return would be reduced if sales charges were taken into account.
(c)	Ratios do not include fees paid indirectly (See Expenses in the accompanying Notes to Financial Statements).
(d)	Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between the classes of shares issued.
(e)	Not annualized.
(f)	Annualized.
(g)	Commenced operations on July 31, 2006.
(h)	Commenced operations on July 31, 2006.
(i)	Commenced operations on July 31, 2006.
(j)	Commenced operations on July 31, 2006.

29

The Hartford Balanced Income Fund

Directors and Officers (Unaudited)

The Board of Directors appoints officers who are responsible for the day-to-day operations of the Fund and who execute policies formulated by the Directors. Each director serves until his or her death, resignation, or retirement or until the next annual meeting of shareholders is held or until his or her successor is elected and qualifies.

Directors and officers who are employed by or who have a financial interest in The Hartford are considered “interested” persons of the Fund pursuant to the Investment Company Act of 1940, as amended. Each officer and three of the Fund’s directors, as noted in the chart below, are “interested” persons of the Fund. Each director serves as a director for The Hartford Mutual Funds, Inc., The Hartford Mutual Funds II, Inc., The Hartford Income Shares Fund, Inc., Hartford Series Fund, Inc., and Hartford HLS Series Fund II, Inc., which collectively consist of 100 funds. Correspondence may be sent to directors and officers c/o Hartford Mutual Funds, P.O. Box 2999, Hartford, Connecticut 06104-2999, except that correspondence to Ms. Fagely may be sent to 500 Bielenberg Drive, Woodbury, Minnesota 55125.

The table below sets forth, for each director and officer, his or her name, year of birth, current position with the Fund and date first elected or appointed to The Hartford Mutual Funds, Inc. (“MF”) and The Hartford Mutual Funds II, Inc. (“MF2”), principal occupation, and, for directors, other directorships held. The Fund’s statement of additional information contains further information on the directors and is available free of charge by calling 1-888-843-7824 or writing to Hartford Mutual Funds, P.O. Box 64387, St. Paul, MN 55164-0387.

Information on the aggregate remuneration paid to the directors of the Fund can be found in the Statement of Operations herein. The Fund pays a portion of the Chief Compliance Officer’s compensation, but does not pay salaries or compensation to any of its officers or directors who are employed by The Hartford.

Non-Interested Directors

Lynn S. Birdsong (1946) Director since 2003, Co-Chairman of the Investment Committee

Mr. Birdsong is a private investor. Since 1981, Mr. Birdsong has been a partner in Birdsong Company, an advertising specialty firm. Since 2003, Mr. Birdsong has been an independent director of The Japan Fund. From 2003 to March 2005, Mr. Birdsong was an independent director of the Atlantic Whitehall Funds. From 1979 to 2002, Mr. Birdsong was a managing director of Zurich Scudder Investments, an investment management firm. During his employment with Scudder, Mr. Birdsong was an interested director of The Japan Fund.

Robert M. Gavin, Jr. (1940) Director since 2002 (MF) and 1986 (MF2), Chairman of the Board since 2004

Dr. Gavin is an educational consultant. Prior to September 1, 2001, he was President of Cranbrook Education Community and prior to July 1996, he was President of Macalester College, St. Paul, Minnesota.

Duane E. Hill (1945) Director since 2001 (MF) and 2002 (MF2), Chairman of the Nominating Committee

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

Sandra S. Jaffee (1941) Director since 2005

Ms. Jaffee is Chairman and Chief Executive Officer of Fortent (formerly Searchspace Group), a leading provider of compliance/regulatory technology to financial institutions. Ms. Jaffee served as an Entrepreneur in Residence with Warburg Pincus, a private equity firm, from August 2004 to August 2005. From September 1995 to July 2004, Ms. Jaffee served as Executive Vice President at Citigroup, where she was President and Chief Executive Officer of Citibank’s Global Securities Services (1995-2003).

William P. Johnston (1944) Director since 2005, Chairman of the Compliance Committee

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

30

Phillip O. Peterson (1944) Director since 2002 (MF) and 2000 (MF2), Chairman of the Audit Committee

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

Lemma W. Senbet (1946) Director since 2005

Dr. Senbet is the William E. Mayer Chair Professor of Finance at the University of Maryland, Robert H. Smith School of Business. He was chair of the Finance Department during 1998-2006. Previously he was an endowed professor of finance at the University of Wisconsin-Madison. Also, he was director of the Fortis Funds from March 2000-July 2002. Dr. Senbet served the finance profession in various capacities, including as director of the American Finance Association and President of the Western Finance Association. In 2006, Dr. Senbet was inducted Fellow of Financial Management Association International for his career-long distinguished scholarship and professional service.

Interested Directors and Officers

Thomas M. Marra* (1958) Director since 2002

Mr. Marra has served as President and Chief Operating Officer of The Hartford Financial Services Group, Inc. (“The Hartford”) since 2007. Mr. Marra currently serves as Director of Hartford Life, Inc. (“HL, Inc.”). Mr. Marra served as Chief Operating Officer of Hartford Life Insurance Company, Inc. (“Hartford Life”) (2000-2008), as President of Hartford Life (2002-2008) and as Director of Hartford Life’s Investment Products Division from 1998 to 2000.

* On February 24, 2009, The Hartford and Mr. Marra determined to enter into a mutually agreed separation whereby Mr. Marra will retire, and his role as an executive officer and employee of The Hartford will terminate, effective July 3, 2009. Mr. Marra will resign his position as a Director of the Fund effective June 25, 2009.

Lowndes A. Smith (1939) Director since 2002, Co-Chairman of the Investment Committee

Mr. Smith served as Vice Chairman of The Hartford from February 1997 to January 2002, as President and Chief Executive Officer of Hartford Life, Inc. from February 1997 to January 2002, and as President and Chief Operating Officer of The Hartford Life Insurance Companies from January 1989 to January 2002. Mr. Smith serves as a Director of White Mountains Insurance Group, Ltd., One Beacon Insurance, Symetra Financial and as a Managing Director of Whittington Gray Associates.

John C. Walters* (1962) Director since 2008

Mr. Walters currently serves as Chief Executive Officer, President and Director of HL, Inc. Mr. Walters previously served as President of the U.S. Wealth Management Division of Hartford Life, Inc., as Co-Chief Operating Officer of Hartford Life Insurance Company (2007-2008) and as Executive Vice President and Director of its Investment Products Division (2000-2008). Mr. Walters also serves as Chairman of the Board, Chief Executive Officer, President and Director of Hartford Life Insurance Company and as Executive Vice President of The Hartford. In addition, Mr. Walters is Manager of HL Investment Advisors, LLC (“HL Advisors”).

* Mr. Walters previously served as President and Chief Executive Officer of the Fund (2007 – 2009).

Other Officers

Robert M. Arena, Jr. (1968) President and Chief Executive Officer since 2009 (served as Vice President of the Fund (2006 — 2009))

Mr. Arena serves as Executive Vice President of Hartford Life Insurance Company, (“Hartford Life”). Additionally, Mr. Arena is Director and Senior Vice President of Hartford Administrative Services Company, (“HASCO”), Manager, Chief Executive Officer and President of Hartford Investment Financial Services, LLC (“HIFSCO”) and HL Advisors. Prior to joining The Hartford in 2004, he was Senior Vice President in charge of Product Management for American Skandia/Prudential in the individual annuities division. Mr. Arena joined American Skandia in 1996.

Tamara L. Fagely (1958) Vice President, Treasurer and Controller since 2002 (MF) 1993 (MF2)

Ms. Fagely has been a Vice President of HASCO since 1998 and Chief Financial Officer since 2006. Currently Ms. Fagely is a Vice President of Hartford Life. She served as Assistant Vice President of Hartford Life from December 2001 through March 2005. In addition, Ms. Fagely is Controller and Chief Financial Officer of HIFSCO.

Brian Ferrell (1962) AML Compliance Officer since 2008

Mr. Ferrell has served as Assistant Vice President and AML Compliance Officer for The Hartford since 2006 and as AML Compliance Officer for HASCO and Hartford Investor Services Company, LLC (“HISC”) since 2008. Prior to joining The Hartford in 2006, Mr. Ferrell held various positions at the U.S. Department of the Treasury, (the “Treasury”), from 2001 to 2006 where he served as Chief Counsel for the Treasury’s Financial Crimes Enforcement Network, (“FinCEN”) from 2005 – 2006.

31

The Hartford Balanced Income Fund

Directors and Officers (Unaudited) — (continued)

Thomas D. Jones, III (1965) Vice President and Chief Compliance Officer since 2006

Mr. Jones serves as Chief Compliance Officer for the Hartford Mutual Funds and Vice President and Director of Securities Compliance for The Hartford. He is also Vice President of HIFSCO, HL Advisors, and Hartford Life Insurance Company. Mr. Jones joined The Hartford in 2006 from SEI Investments, where he served as Chief Compliance Officer for its mutual funds and investment advisers. Prior to joining SEI, Mr. Jones was First Vice President and Compliance Director for Merrill Lynch Investment Managers (Americas) (“MLIM”), where he worked from 1992-2004. At MLIM, Mr. Jones was responsible for the compliance oversight of various investment products, including mutual funds, wrap accounts, institutional accounts and alternative investments.

Edward P. Macdonald (1967) Vice President, Secretary and Chief Legal Officer since 2005

Mr. Macdonald serves as Assistant General Counsel and Assistant Vice President of The Hartford and Chief Legal Officer and Vice President of HIFSCO. He also serves as Vice President and Secretary of HASCO, Assistant Vice President of Hartford Life, and Chief Legal Officer, Secretary and Vice President of HL Advisors. Prior to joining The Hartford in 2005, Mr. Macdonald was Chief Counsel, Investment Management for Prudential Financial (formerly American Skandia Investment Services, Inc.). He joined Prudential in April 1999.

Vernon J. Meyer (1964) Vice President since 2006

Mr. Meyer serves as Senior Vice President of Hartford Life and as Director of its Investment Advisory Group in the Individual Markets Group segment. He also serves as Senior Vice President of HIFSCO and HL Advisors. Prior to joining The Hartford in 2004, Mr. Meyer was with MassMutual which he joined in 1987.

D. Keith Sloane (1960) Vice President since 2009

Mr. Sloane is a Senior Vice President of Hartford Life where he serves as Director of mutual fund product management for The Hartford’s mutual funds and 529 college savings businesses. Additionally, Mr. Sloane currently serves as Senior Vice President of HIFSCO, HL Advisors, and HASCO. Prior to joining The Hartford in 2007, Mr. Sloane was Director of product marketing and led the mutual fund business for Wachovia Securities (“Wachovia”) in their investment products group. Mr. Sloane joined Wachovia in 1995.

Jane Wolak (1961) Vice President since 2009

Ms. Wolak currently serves as Vice President of Hartford Life. Ms. Wolak joined Hartford Life as Vice President, Retail Product Services in May 2007. She is also Vice President of HASCO. Previously, Ms. Wolak was with Sun Life Financial where she held the position of Vice President, Service Center Operations from 2001 – 2007.

HOW TO OBTAIN A COPY OF THE FUND’S PROXY VOTING POLICIES AND VOTING RECORDS

A description of the policies and procedures that the Fund uses to determine how to vote proxies relating to portfolio securities and a record of how the Fund voted any proxies for the twelve-month period ended June 30, 2008 is available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov.

QUARTERLY PORTFOLIO HOLDINGS INFORMATION

The Fund files a complete schedule of portfolio holdings with the Commission for the first and third quarters of each fiscal year on Form N-Q. The Fund’s Forms are available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov. The Form N-Q may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330.

32

The Hartford Balanced Income Fund

Expense Example (Unaudited)

Your Fund’s Expenses

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments and contingent deferred sales charges (CDSC) (2) ongoing costs including management fees; distribution fees; and other fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the period of October 31, 2008 through April 30, 2009.

Actual Expenses

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

Hypothetical Example for Comparison Purposes

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

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads) and CDSC. Therefore, the second line 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 are equal to the Fund’s annualized expense ratios multiplied by average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

	Actual return						Hypothetical (5% return before expenses)
					Expenses paid						Expenses paid					Days in
					during the period						during the period					the		Days
	Beginning		Ending Account		October 31, 2008		Beginning		Ending Account		October 31,		Annualized			current		in the
	Account Value		Value		through		Account Value		Value		2008 through		expense			1/2		full
	October 31, 2008		April 30, 2009		April 30, 2009		October 31, 2008		April 30, 2009		April 30, 2009		ratio			year		year
Class A	$	1,000.00	$	995.92	$	6.18	$	1,000.00	$	1,018.59	$	6.25		1.25	%		181		365
Class B	$	1,000.00	$	993.05	$	9.63	$	1,000.00	$	1,015.12	$	9.74		1.95			181		365
Class C	$	1,000.00	$	992.70	$	9.88	$	1,000.00	$	1,014.87	$	9.99		2.00			181		365
Class Y	$	1,000.00	$	996.70	$	4.45	$	1,000.00	$	1,020.33	$	4.50		0.90			181		365

33

The Hartford Capital Appreciation Fund

Table of Contents

Manager Discussions (Unaudited)	2
Financial Statements
Schedule of Investments at April 30, 2009 (Unaudited)	4
Statement of Assets and Liabilities at April 30, 2009 (Unaudited)	7
Statement of Operations for the Six Month Period Ended April 30, 2009 (Unaudited)	8
Statement of Changes in Net Assets for the Six Month Period Ended April 30, 2009 (Unaudited) and the Year Ended October 31, 2008	9
Notes to Financial Statements (Unaudited)	10
Financial Highlights (Unaudited)	21
Directors and Officers (Unaudited)	22
How to Obtain a Copy of the Fund’s Proxy Voting Policies and Proxy Voting Records (Unaudited)	24
Quarterly Portfolio Holdings Information (Unaudited)	24
Expense Example (Unaudited)	25

The Hartford Capital Appreciation Fund
(subadvised by Wellington Management Company, LLP)

Performance Overview(1) 4/30/99 — 4/30/09
Growth of a $10,000 investment in Class A which includes Sales Charge

Russell 3000 Index is an unmanaged index that measures the performance of the 3,000 largest U.S. companies based on total market capitalization.

You cannot invest directly in an index.

The value of shares will fluctuate so that, when redeemed, shares may be worth more or less than their original cost. The chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.

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

Investment objective — Seeks growth of capital.

Average Annual Total Returns(2,3,4) (as of 4/30/09)

	Inception		1			5			10			Since
	Date		Year			Year			Year			Inception
Capital Appreciation A#		7/22/96		-40.10	%		0.74	%		5.17	%		11.95	%
Capital Appreciation A##		7/22/96		-43.39	%		-0.40	%		4.57	%		11.45	%
Capital Appreciation B#		7/22/96		-40.59	%		-0.05	%	NA		*	NA		*
Capital Appreciation B##		7/22/96		-43.55	%		-0.35	%	NA		*	NA		*
Capital Appreciation C#		7/22/96		-40.54	%		0.03	%		4.44	%		11.19	%
Capital Appreciation C##		7/22/96		-41.13	%		0.03	%		4.44	%		11.19	%
Capital Appreciation I#		7/22/96		-39.90	%		0.90	%		5.25	%		12.02	%
Capital Appreciation R3#		7/22/96		-40.25	%		0.83	%		5.49	%		12.33	%
Capital Appreciation R4#		7/22/96		-40.08	%		0.99	%		5.57	%		12.40	%
Capital Appreciation R5#		7/22/96		-39.89	%		1.13	%		5.64	%		12.46	%
Capital Appreciation Y#		7/22/96		-39.82	%		1.19	%		5.68	%		12.49	%

#	Without sales charge
##	With sales charge
NA	Not Applicable
*	10 year and inception returns are not applicable for Class B because after 8 years Class B converts to Class A.

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)	Growth of a $10,000 investment in Classes B, C, I, R3, R4, R5 and Y shares will vary from results seen above due to differences in the expenses charged to these share classes.
(2)	Class C shares commenced operations on 7/31/98. Performance prior to 7/31/98 reflects Class B performance less Class C sales charges where applicable. Class I shares commenced operations on 8/31/06. Performance prior to 8/31/06 reflects Class A performance. Class R3, R4 and R5 shares commenced operations on 12/22/06. Performance prior to 12/22/06 reflects Class Y performance.
(3)	The initial investment in Class A shares reflects the maximum sales charge and Classes B and C reflect CDSC.
(4)	Total returns presented above were calculated using the Fund’s net asset value available to shareholders for sale or redemption of Fund shares on April 30, 2009, which excludes investment transactions as of this date.

Portfolio Managers
Saul J. Pannell, CFA	Frank D. Catrickes, CFA, CMT
Senior Vice President, Partner	Senior Vice President, Partner

How did the Fund perform?

The Class A shares of The Hartford Capital Appreciation Fund returned -0.48%, before sales charge, for the six-month period ended April 30, 2009, outperforming its benchmark, the Russell 3000 Index, which returned -7.46% for the same period. The Fund also outperformed the -4.83% return of the average fund in the Lipper Multi-Cap Core Funds peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

Broad U.S. equity markets fell during the period, but this overall decline masks two significantly different market environments. From the beginning of November through early March stocks fell sharply, reflecting deepening economic worries and concerns over the U.S. government’s increasing involvement in the economy. From early March through the end of April stocks rallied as investors came to believe that a Depression-like scenario was less likely. Sector returns diverged widely in this environment, with weakness in Financials (-26%), Industrials (-11%), and Energy (-11%) overshadowing relative strength in Information Technology (+6%), Consumer Discretionary (+6%), and Telecommunication Services (+3%).

2

The Fund outperformed its benchmark due to favorable stock selection. Fund results exceeded those of the benchmark in six of ten economic sectors, with the largest outperformance in Financials, Health Care, and Energy. Selection was weaker in the Industrials, Telecommunications Services, and Materials sectors. Allocation among sectors, a result of the bottom-up (i.e. stock by stock fundamental research) stock selection process, detracted from relative (i.e. performance of the Fund as measured against the benchmark) performance, largely due to overweight (i.e. the Fund’s sector position was greater than the benchmark position) positions in the lagging Health Care and Financials sectors. The Fund benefited from a modest cash position, which helped relative performance in a period of overall negative returns.

The largest contributors to relative and absolute (i.e. total return) returns were Ford Motor (Consumer Discretionary), Schering-Plough (Health Care), and Goldman Sachs (Financials). Shares in auto manufacturer Ford rose as the company appeared better able to weather the storm brought on by plunging new car sales than its U.S. competitors, in part due to its relatively strong financial position. Schering-Plough, a global health care company, saw its shares rise on news of a definitive merger agreement with Merck. Shares of bank holding company Goldman Sachs moved higher as the firm’s relatively clean balance sheet and stated desire to pay back its government loans attracted investors.

Bank of America (Financials), General Electric (Industrials), and ACE (Financials), detracted most from relative returns. Shares of Bank of America declined on news that the company was attempting to raise additional capital and on concerns that they may have overpaid for brokerage firm Merrill Lynch. Shares of conglomerate GE fell as the company cut its dividend and investors grew increasingly concerned about its finance segment. ACE, a global property and casualty insurance company, saw its shares trade lower on concerns about corporate bonds held in its investment portfolio. Large absolute detractors included global financial services firm Citigroup and aerospace company Boeing.

What is the outlook?

It is increasingly clear that the U.S. is in a deep recession, notwithstanding the recent stock market rally. Unemployment is rising sharply, the housing slowdown continues, and the consumer spending is contracting. The government is reshaping the financial playing field through actions ranging from stimulus packages to massive loans to impaired private sector companies, all taken with an eye towards thawing frozen credit markets and expanding purchasing power. These moves will help mitigate some of the negative economic pressures, and while the outlook remains uncertain, markets have begun to anticipate a recovery.

In this environment we continue to focus our efforts on stock-by-stock fundamental research. These bottom-up investment decisions have led to increases in exposure to Health Care, Financials, Consumer Discretionary, and Energy, all overweight positions versus the benchmark. At the end of the period the Fund was most overweight the Health Care, Financials, and Consumer Discretionary sectors and most underweight (i.e. the Fund’s sector position was less than the benchmark position) Consumer Staples, Industrials, and Utilities. The Fund’s largest absolute sector weights were in the Health Care, Information Technology, and Financials sectors.

Diversification by Industry
as of April 30, 2009

	Percentage of
Industry	Net Assets
Automobiles & Components		4.1	%
Banks		3.4
Capital Goods		6.7
Consumer Durables & Apparel		1.0
Consumer Services		0.3
Diversified Financials		7.8
Energy		13.0
Finance		0.4
Food, Beverage & Tobacco		0.7
Health Care Equipment & Services		7.4
Household & Personal Products		0.3
Insurance		5.5
Materials		5.1
Media		3.1
Pharmaceuticals, Biotechnology & Life Sciences		12.2
Retailing		5.0
Semiconductors & Semiconductor Equipment		1.0
Software & Services		6.6
Technology Hardware & Equipment		9.7
Telecommunication Services		2.5
Utilities		0.5
Short-Term Investments		3.5
Other Assets and Liabilities		0.2
Total		100.0	%

3

The Hartford Capital Appreciation Fund

Schedule of Investments
April 30, 2009 (Unaudited)
(000’s Omitted)

Shares or Principal Amount			Market Value ╪
COMMON STOCKS - 95.9%
		Automobiles & Components — 4.1%
	75,755	Ford Motor Co. •	$	453,017
	2,116	Michelin (C.G.D.E.) Class B		108,336
				561,353
		Banks — 3.4%
	138,245	Industrial and Commercial Bank of China		78,645
	6,668	Standard Chartered plc		103,152
	14,093	Wells Fargo & Co.		282,007
				463,804
		Capital Goods — 6.7%
	4,795	Boeing Co.		192,040
	20,285	General Electric Co.		256,602
	8,366	Hansen Transmissions •		18,218
	6,878	Raytheon Co.		311,083
	2,083	Siemens AG		140,079
				918,022
		Consumer Durables & Apparel — 1.0%
	3,606	Liz Claiborne, Inc.		17,090
	11,166	Newell Rubbermaid, Inc.		116,679
				133,769
		Consumer Services — 0.3%
	31,349	Shangri-La Asia Ltd.		46,094
		Diversified Financials — 7.8%
	1,199	American Capital Ltd. ∞		3,704
	15,158	Bank of America Corp.		135,360
	1,402	Deutsche Boerse AG		103,603
	5,177	Excel Medical Fund L.P. ⌂ • †		5,219
	4,345	Goldman Sachs Group, Inc.		558,390
	8,321	ING Groep N.V.		75,849
	5,412	Julius Baer Holding Ltd.		177,547
				1,059,672
		Energy — 13.0%
	14,039	Acergy S.A.		108,434
	4,487	Cameco Corp.		102,259
	1,303	Dresser-Rand Group, Inc. •		32,102
	14,251	Halliburton Co.		288,163
	3,906	National Oilwell Varco, Inc. •		118,283
	8,048	OAO Gazprom Class S ADR		143,895
	1,984	Occidental Petroleum Corp.		111,668
	4,855	OMV AG		150,404
	1,662	Petro-Canada		52,394
	3,327	Schlumberger Ltd.		162,975
	5,250	Suncor Energy, Inc. ADR		133,140
	11,947	Weatherford International Ltd. •		198,682
	4,744	XTO Energy, Inc.		164,413
				1,766,812
		Food, Beverage & Tobacco — 0.7%
	2,808	Cosan Ltd. •		9,884
	2,623	Nestle S.A.		85,510
				95,394
		Health Care Equipment & Services — 7.4%
	2,568	Aetna, Inc.		56,531
	17,326	Boston Scientific Corp. •		145,708
	2,312	Covidien Ltd.		76,251
	4,252	McKesson Corp.		157,305
	6,132	Medtronic, Inc.		196,237
	13,670	United Health Group, Inc.		321,508
	977	Zimmer Holdings, Inc. •		42,964
				996,504
		Household & Personal Products — 0.3%
	3,991	Bare Escentuals, Inc. •		36,953
		Insurance — 5.5%
	12,643	ACE Ltd.		585,612
	5,490	Metlife, Inc.		163,322
				748,934
		Materials — 5.1%
	1,147	Agnico Eagle Mines Ltd.		50,581
	3,646	Aracruz Celulose S.A. ADR		43,535
	4,501	Newmont Mining Corp.		181,136
	1,400	Potash Corp. of Saskatchewan, Inc.		121,086
	1,286	Praxair, Inc.		95,922
	12,447	Vedanta Resources plc		194,692
				686,952
		Media — 3.1%
	25	Harvey Weinstein Co. Holdings Class A-1 ⌂ • †		—
	75	McGraw-Hill Cos., Inc.		2,261
	16,000	News Corp. Class A		132,160
	4,604	Viacom, Inc. Class B •		88,575
	8,710	Walt Disney Co.		190,756
				413,752
		Pharmaceuticals, Biotechnology & Life Sciences — 12.2%
	1,446	Amgen, Inc. •		70,107
	4,240	Bristol-Myers Squibb Co.		81,415
	8,714	Merck & Co., Inc.		211,220
	11,370	Pfizer, Inc.		151,900
	2,663	Roche Holding AG		335,832
	20,716	Schering-Plough Corp.		476,880
	7,531	Teva Pharmaceutical Industries Ltd. ADR		330,527
				1,657,881
		Retailing - 5.0%
	36,752	Buck Holdings L.P ⌂ • †		65,392
	963	Priceline.com, Inc. •		93,540
	21,433	Staples, Inc.		441,939
	2,724	TJX Cos., Inc.		76,185
				677,056
		Semiconductors & Semiconductor Equipment — 1.0%
	4,283	Broadcom Corp. Class A •		99,314
	3,795	Taiwan Semiconductor Manufacturing Co., Ltd. ADR		40,112
				139,426
		Software & Services — 6.6%
	5,449	Activision Blizzard, Inc. •		58,690
	1,492	Amdocs Ltd. •		31,226
	974	Check Point Software Technologies Ltd. ADR •		22,563
	630	Google, Inc. •		249,540
	783	Mastercard, Inc.		143,641
	238	Nintendo Co., Ltd.		63,989
	12,813	Oracle Corp. •		247,809
	4,784	Western Union Co.		80,134
				897,592
		Technology Hardware & Equipment — 9.7%
	16,157	Cisco Systems, Inc. •		312,152
	3,147	Corning, Inc.		46,005
	7,346	Hewlett-Packard Co.		264,323
	86,284	Hon Hai Precision Industry Co., Ltd.		249,105
	2,104	International Business Machines Corp.		217,175

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

4

Shares or Principal Amount					Market Value ╪
COMMON STOCKS — 95.9% — (continued)
		Technology Hardware & Equipment - 9.7% — (continued)
	3,556	Qualcomm, Inc.			$	150,473
	1,053	Research In Motion Ltd. •				73,197
						1,312,430
		Telecommunication Services — 2.5%
	10,264	AT&T, Inc.				262,959
	2,246	Mobile Telesystems OJSC ADR				74,422
						337,381
		Utilities — 0.5%
	1,980	E.On AG				66,974
		Total common stocks (cost $16,136,752)			$	13,016,755
CORPORATE BONDS: INVESTMENT GRADE — 0.4%
		Finance - 0.4%
		MBIA Insurance Co.
$	95,840	14.00%, 01/15/2033 ■ Δ			$	36,419
		UBS Luxembourg S.A.
	14,420	6.23%, 02/11/2015				11,546
						47,965
		Total corporate bonds: investment grade (cost $109,920)			$	47,965
		Total long-term investments (cost $16,246,672)			$	13,064,720
SHORT-TERM INVESTMENTS — 3.5%
		Repurchase Agreements — 3.5%
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $113,639, collateralized by GNMA 4.50% - 6.50%, 2038 - 2039, value of $115,911)
$	113,639	0.18%, 04/30/2009			$	113,639
		BNP Paribas Securities Corp. TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $135,994, collateralized by FHLMC 4.50% - 6.50%, 2035 - 2039, FNMA 4.50% - 6.50%, 2034 - 2047, value of $138,714)
	135,994	0.17%, 04/30/2009				135,994
		Deutsche Bank Securities TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $190,019, collateralized by FHLMC 4.00% - 7.00%, 2021 - 2039, FNMA 6.00% - 7.00%, 2034 - 2038, GNMA 4.50% - 7.00%, 2024 - 2039, value of $193,819)
	190,019	0.17%, 04/30/2009				190,019
		UBS Securities, Inc. Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $640, collateralized by U.S. Treasury Bond 7.50%, 2024, value of $656)
	640	0.14%, 04/30/2009				640
		UBS Securities, Inc. TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $40,984, collateralized by FHLMC 8.00% - 15.00%, 2009 - 2021, FNMA 3.50% - 15.50%, 2012 - 2039, value of $41,805)
	40,984	0.16%, 04/30/2009				40,984
						481,276
		Total short-term investments (cost $481,276)			$	481,276
		Total investments (cost $16,727,948) ▲	99.8	%	$	13,545,996
		Other assets and liabilities	0.2	%		27,439
		Total net assets	100.0	%	$	13,573,435

Note:	Percentage of investments as shown is the ratio of the total market value to total net assets. Market value of investments in foreign securities represents 24.43% of total net assets at April 30, 2009.
	Foreign securities that are principally traded on certain foreign markets are adjusted daily pursuant to a third party pricing service methodology approved by the Board of Directors in order to reflect an adjustment for factors occurring after the close of the foreign market but before the close of the New York Stock Exchange.
▲	At April 30, 2009, the cost of securities for federal income tax purposes was $16,799,711 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	320,708
Unrealized Depreciation		(3,574,423	)
Net Unrealized Depreciation	$	(3,253,715	)

†	The aggregate value of securities valued in good faith at fair value as determined under policies and procedures established by and under the supervision of the Fund’s Board of Directors at April 30, 2009, was $70,611, which represents 0.52% of total net assets. This calculation excludes securities that are principally traded in certain foreign markets and whose prices were adjusted pursuant to a third party pricing service methodology approved by the Board of Directors.
•	Currently non-income producing.
Δ	Variable rate securities; the rate reported is the coupon rate in effect at April 30, 2009.
■	Securities issued within terms of a private placement memorandum, exempt from registration under Rule 144A under the Securities Act of 1933, as amended, and may be sold only to qualified institutional buyers. Pursuant to guidelines adopted by the Board of Directors, these issues are determined to be liquid. The aggregate value of these securities at April 30, 2009, was $36,419, which represents 0.27% of total net assets.

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

5

The Hartford Capital Appreciation Fund
Schedule of Investments — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

∞	Securities exempt from registration under Regulation D of the Securities Act of 1933. These securities are determined to be liquid. At April 30, 2009, the market value of these securities was $3,704, which represents 0.03% of total net assets.
⌂	The following securities are considered illiquid. Illiquid securities are often purchased in private placement transactions, are often not registered under the Securities Act of 1933 and may have contractual restrictions on resale. A security may also be considered illiquid if the security lacks a readily available market or if its valuation has not changed for a certain period of time.

Period		Shares/
Acquired		Par		Security	Cost Basis
	06/2007		36,752	Buck Holdings L.P.	$	36,791
	03/2008 - 04/2009		5,177	Excel Medical Fund L.P.		5,177
	10/2005		25	Harvey Weinstein Co. Holdings Class A-1 — Reg D		23,636

         The aggregate value of these securities at April 30, 2009 was $70,611 which represents 0.52% of total net assets.

Forward Foreign Currency Contracts Outstanding at April 30, 2009

							Unrealized
	Market		Contract		Delivery		Appreciation/
Description	Value ╪		Amount		Date		(Depreciation)
British Pound (Sell)	$	23,905	$	23,653		05/01/09	$	(252	)
British Pound (Sell)		6,180		6,180		05/05/09		—
Hong Kong Dollar (Buy)		31,173		31,173		05/04/09		—
Hong Kong Dollar (Buy)		47,211		47,211		05/05/09		—
							$	(252	)

╪ See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of securities.

FAS 157 Disclosure of Investment Valuation Hierarchy Levels

Assets:
Investment in securities — Level 1	$	10,839,683
Investment in securities — Level 2		2,635,702
Investment in securities — Level 3		70,611
Total	$	13,545,996
Liabilities:
Other financial instruments — Level 2 *		252
Total	$	252

* Other financial instruments are derivative instruments not reflected in the Schedule of Investments, such as futures, forwards and swap contracts, which are valued at the unrealized appreciation/depreciation on the investment.

Following is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value:

Assets:
Securities:
Balance as of October 31, 2008	$	60,635
Change in unrealized appreciation ♦		23,504
Net purchases		2,452
Transfers in and /or out of Level 3		(15,980	)
Balance as of April 30, 2009	$	70,611
♦ Change in unrealized gains or losses relating to assets still held at April 30, 2009	$	23,504

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

6

The Hartford Capital Appreciation Fund

Statement of Assets and Liabilities
April 30, 2009 (Unaudited)
(000’s Omitted)

Assets:
Investments in securities, at fair value (cost $16,727,948)	$	13,545,996
Cash		—
Foreign currency on deposit with custodian (cost $—)		—
Receivables:
Investment securities sold		91,017
Fund shares sold		57,846
Dividends and interest		25,348
Other assets		599
Total assets		13,720,806
Liabilities:
Unrealized depreciation on forward foreign currency contracts		252
Payables:
Investment securities purchased		117,722
Fund shares redeemed		21,717
Investment management fees		1,426
Distribution fees		871
Accrued expenses		5,383
Total liabilities		147,371
Net assets	$	13,573,435
Summary of Net Assets:
Capital stock and paid-in-capital		20,396,612
Accumulated distribution in excess of net investment income		(57,058	)
Accumulated net realized loss on investments and foreign currency transactions		(3,584,175	)
Unrealized depreciation of investments and the translation of assets and liabilities denominated in foreign currency		(3,181,944	)
Net assets	$	13,573,435
Shares authorized		1,315,000
Par value	$	0.001
Class A: Net asset value per share/Maximum offering price per share	$	22.96/$24.29
Shares outstanding		361,028
Net assets	$	8,287,491
Class B: Net asset value per share	$	20.52
Shares outstanding		45,522
Net assets	$	934,266
Class C: Net asset value per share	$	20.61
Shares outstanding		115,570
Net assets	$	2,382,057
Class I: Net asset value per share	$	22.85
Shares outstanding		27,668
Net assets	$	632,222
Class R3: Net asset value per share	$	24.34
Shares outstanding		609
Net assets	$	14,821
Class R4: Net asset value per share	$	24.53
Shares outstanding		4,795
Net assets	$	117,636
Class R5: Net asset value per share	$	24.65
Shares outstanding		2,176
Net assets	$	53,644
Class Y: Net asset value per share	$	24.72
Shares outstanding		46,575
Net assets	$	1,151,298

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

7

The Hartford Capital Appreciation Fund

Statement of Operations
For the Six Month Period Ended April 30, 2009 (Unaudited)
(000’s Omitted)

Investment Income:
Dividends	$	122,049
Interest		9,083
Securities lending		375
Less: Foreign tax withheld		(5,212	)
Total investment income		126,295
Expenses:
Investment management and fees		39,958
Transfer agent fees		15,488
Distribution fees
Class A		9,374
Class B		4,411
Class C		11,031
Class R3		26
Class R4		115
Custodian fees		184
Accounting services		1,001
Registration and filing fees		486
Board of Directors’ fees		145
Audit fees		182
Other expenses		2,982
Total expenses (before waivers and fees paid indirectly)		85,383
Transfer agent fee waivers		(439	)
Commission recapture		(275	)
Custodian fee offset		—
Total waivers and fees paid indirectly		(714	)
Total expenses, net		84,669
Net investment income		41,626
Net Realized Loss on Investments and Foreign Currency Transactions:
Net realized loss on investments in securities		(2,902,848	)
Net realized gain on foreign currency transactions		6,793
Net Realized Loss on Investments and Foreign Currency Transactions		(2,896,055	)
Net Changes in Unrealized Appreciation of Investments and Foreign Currency Transactions:
Net unrealized appreciation of investments		2,739,822
Net unrealized depreciation on translation of other assets and liabilities in foreign currencies		(98,762	)
Net Changes in Unrealized Appreciation of Investments and Foreign Currency Transactions		2,641,060
Net Loss on Investments and Foreign Currency Transactions		(254,995	)
Net Decrease in Net Assets Resulting from Operations	$	(213,369	)

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

8

The Hartford Capital Appreciation Fund

Statement of Changes in Net Assets

(000’s Omitted)

	For the Six-Month
	Period Ended			For the
	April 30, 2009			Year Ended
	(Unaudited)			October 31, 2008
Operations:
Net investment income	$	41,626		$	69,932
Net realized loss on investments and foreign currency transactions		(2,896,055	)		(775,078	)
Net unrealized appreciation (depreciation) of investments and foreign currency transactions		2,641,060			(10,190,594	)
Net decrease in net assets resulting from operations		(213,369	)		(10,895,740	)
Distributions to Shareholders:
From net investment income
Class A		(116,532	)		—
Class B		(2,415	)		—
Class C		(12,453	)		—
Class I		(8,419	)		—
Class R3		(160	)		—
Class R4		(1,508	)		—
Class R5		(688	)		—
Class Y		(20,113	)		—
From net realized gain on investments
Class A		—			(1,110,143	)
Class B		—			(197,872	)
Class C		—			(395,139	)
Class I		—			(13,451	)
Class R3		—			(3	)
Class R4		—			(1,432	)
Class R5		—			(353	)
Class Y		—			(79,569	)
Total distributions		(162,288	)		(1,797,962	)
Capital Share Transactions:
Class A		(127,944	)		2,958,023
Class B		(100,626	)		(25,704	)
Class C		(180,860	)		775,400
Class I		186,977			501,432
Class R3		6,418			11,592
Class R4		41,197			99,010
Class R5		16,748			54,478
Class Y		91,445			820,275
Net increase (decrease) from capital share transactions		(66,645	)		5,194,506
Net decrease in net assets		(442,302	)		(7,499,196	)
Net Assets:
Beginning of period		14,015,737			21,514,933
End of period	$	13,573,435		$	14,015,737
Accumulated undistributed (distribution in excess of) net investment income	$	(57,058	)	$	63,604

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

9

The Hartford Capital Appreciation Fund

Notes to Financial Statements
April 30, 2009 (Unaudited)
(000’s Omitted)

1.	Organization:
	The Hartford Mutual Funds, Inc. (“Company”) is an open-end management investment company comprised of fifty-two portfolios. Financial statements for The Hartford Capital Appreciation Fund (the “Fund”), a series of the Company, are included in this report.
	The Company is organized under the laws of the State of Maryland and is registered with the Securities and Exchange Commission (“SEC”) under the Investment Company Act of 1940, as amended (“1940 Act”). The Fund is a diversified open-end management investment company.
	Class A shares are sold with a front-end sales charge of up to 5.50%. Class B shares are sold with a contingent deferred sales charge which is assessed on the lesser of the per share net asset value (“NAV”) of the shares at the time of redemption or the original purchase price, and declines from up to 5.00% to zero depending on the period of time the shares are held. Class C shares are sold with a contingent deferred sales charge of up to 1.00% on shares redeemed within twelve months of purchase. Class I shares are sold without sales charges to certain eligible investors through advisory fee-based wrap programs. Classes R3, R4, R5 shares, which are offered to employer-sponsored retirement plans, and Class Y shares, which are sold to certain eligible institutional investors, are sold without a sales charge. All classes of shares have identical voting, redemption, dividend, liquidation and other rights and the same terms and conditions, with the exceptions that each class may have different expenses, which may affect performance, and except that Class B shares automatically convert to Class A shares after 8 years.
	Effective at the close of business on September 30, 2009 (the “Close Date”), no new or additional investments will be allowed in Class B shares of The Hartford Mutual Funds (including investments through any systematic investment plan). After the Close Date, existing shareholders of Class B shares may continue to hold their Class B shares, exchange their Class B shares for Class B shares of another Hartford Mutual Fund (as permitted by existing exchange privileges), and redeem their Class B shares as described in the Fund’s prospectus. Reinstatement privileges with respect to Class B shares will continue under the current policy. If you have chosen to reinvest capital gains and dividends, any such capital gains or dividends on Class B shares will continue to be reinvested in Class B shares of the Fund. For Class B shares outstanding as of the Close Date, all Class B share attributes, including the 12b-1 fee, contingent deferred sales charge schedule, and conversion to Class A shares remain unchanged.
2.	Significant Accounting Policies:
	The following is a summary of significant accounting policies of the Fund, which are in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”).

a)	Security Transactions and Investment Income - Security transactions are recorded on the trade date (the date the order to buy or sell is executed). Security gains and losses are determined on the basis of identified cost.
	Dividend income is accrued as of the ex-dividend date, except that certain dividends for foreign securities where the ex-dividend date may have passed are recorded as soon as the Fund is informed of the dividend in the exercise of reasonable diligence. Interest income, including amortization of premium and accretion of discounts, is accrued on a daily basis.
b)	Security Valuation — The Fund generally uses market prices in valuing portfolio securities. If market prices are not readily available or are deemed unreliable, the Fund will use the fair value of the security as determined in good faith under policies and procedures established by and under the supervision of the Fund’s Board of Directors. Market prices may be deemed unreliable, for example, if a security is thinly traded or if an event has occurred after the close of the security’s primary markets, but before the close of the New York Stock Exchange (the “Exchange”) (normally 4:00 p.m. Eastern Time, referred to as the “Valuation Time”) that is expected to affect the value of the portfolio security. The circumstances in which the Fund may use fair value pricing include, among others: (i) the occurrence of events that are significant to a particular issuer, such as mergers, restructuring or defaults; (ii) the occurrence of events that are

10

significant to an entire market, such as natural disasters in a particular region or governmental actions; (iii) trading restrictions on securities; (iv) thinly traded securities and (v) market events such as trading halts and early market closings. In addition, with respect to the valuation of stocks primarily traded on foreign markets, the Fund uses a fair value pricing service approved by the Fund’s Board of Directors, which employs quantitative models that evaluate changes in the value of foreign market proxies (e.g., futures contracts, ADR’s, exchange traded funds (“ETF’s”)) after the close of the foreign markets but before the close of the Exchange. Securities that are primarily traded on foreign markets may trade on days that are not business days of the Fund. The value of the foreign securities in which the Fund invests may change on days when a shareholder will not be able to purchase or redeem shares of the Fund. Fair value pricing is subjective in nature and the use of fair value pricing by the Fund may cause the NAV of its shares to differ significantly from the NAV that would have been calculated using market prices at the close of the exchange on which a portfolio security is primarily traded but before the close of the Exchange. There can be no assurance that the Fund could obtain the fair value assigned to a security if the Fund were to sell the security at approximately the time at which the Fund determines its NAV.

Debt securities (other than short-term obligations and senior floating rate interests) held by the Fund are valued on the basis of valuations furnished by an independent pricing service which determines valuations for normal institutional size trading units of debt securities. Senior floating rate interests generally trade in over-the-counter markets and are priced through an independent pricing service utilizing independent market quotations from loan dealers or financial institutions. Securities for which prices are not available from an independent pricing service are valued using market quotations obtained from one or more dealers that make markets in the securities in accordance with procedures established by the Fund’s Board of Directors. Generally, the Fund may use fair valuation in regard to debt securities when the Fund holds defaulted or distressed securities or securities in a company in which a reorganization is pending. Short-term investments with a maturity of more than 60 days when purchased are valued based on market quotations until the remaining days to maturity become less than 61 days. Investments that mature in 60 days or less are valued at amortized cost, which approximates market value.

Securities of foreign issuers and non-dollar securities are translated from the local currency into U.S. dollars using prevailing exchange rates.

Options contracts on securities, currencies, indexes, futures contracts, commodities and other instruments shall be valued at their most recent sales price at the Valuation Time on the Primary Market on which the instrument is primarily traded. If the instrument did not trade on the Primary Market, it may be valued at the most recent sales price at the Valuation Time on another exchange or market where it did trade.

Futures contracts are valued at the most recent settlement price reported by an exchange on which, over time, they are traded most extensively. If a settlement price is not available, futures contracts will be valued at the most recent trade price as of the Valuation Time. If there were no trades, the contract shall be valued at the mean of the closing bid/ask prices as of the Valuation Time.

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

A forward currency contract shall be valued based on the price of the underlying currency at the prevailing interpolated exchange rate, which is a combination of the spot currency rate and the forward currency rate. Spot currency rates and forward currency rates are obtained from an independent pricing service on a daily basis not more than one hour before the Valuation Time.

Other derivative or contractual type instruments shall be valued using market prices if such instruments trade on an exchange or market. If such instruments do not trade on an exchange or market, such instruments shall be valued at a price at which the counterparty to such contract would repurchase the instrument. In the event that the counterparty

11

The Hartford Capital Appreciation Fund
Notes to Financial Statements — (continued) 
April 30, 2009 (Unaudited)
(000’s Omitted)

	cannot provide a price, such valuation may be determined in accordance with procedures established by the Fund’s Board of Directors.
c)	Foreign Currency Transactions — The accounting records of the Fund are maintained in U.S. dollars. All assets and liabilities initially expressed in foreign currencies are converted into U.S. dollars at the prevailing exchange rates. Purchases and sales of investment securities, dividend and interest income and certain expenses are translated at the rates of exchange prevailing on the respective dates of such transactions.
	The Fund does not isolate that portion of portfolio security valuation resulting from fluctuations in the foreign currency exchange rates on portfolio securities from the fluctuations arising from changes in the market prices of securities held. Such fluctuations are included with the net realized and unrealized gain or loss on investments in the accompanying financial statements.
	Net realized foreign exchange gains or losses arise from sales of foreign currencies and the difference between asset and liability amounts initially stated in foreign currencies and the U.S. dollar value of the amounts actually received or paid. Net unrealized foreign exchange gains or losses arise from changes in the value of other assets and liabilities at the end of the reporting period, resulting from changes in the exchange rates.
d)	Securities Lending — The Fund may lend its securities to certain qualified brokers who pay the Fund negotiated lender fees. The loans are fully collateralized at all times with cash and/or U.S. Government Securities and/or repurchase agreements. The cash collateral is then invested in short-term money market instruments. The repurchase agreements are fully collateralized by U.S. Government Securities. The adequacy of the collateral for securities on loan is monitored on a daily basis. For instances where the market value of collateral falls below the market value of the securities out on loan, such collateral is supplemented on the following business day.
	While securities are on loan, the Fund is subject to the following risks: 1) that the borrower may default on the loan and that the collateral could be inadequate in the event the borrower defaults, 2) that the earnings on the collateral invested may not be sufficient to pay fees incurred in connection with the loan, 3) that the principal value of the collateral invested may decline and may not be sufficient to pay back the borrower for the amount of the collateral posted, 4) that the borrower may use the loaned securities to cover a short sale which may place downward pressure on the market prices of the loaned securities, 5) that return of loaned securities could be delayed and could interfere with portfolio management decisions and 6) that any efforts to recall the securities for purposes of voting a proxy may not be effective. The Fund had no securities out on loan as of April 30, 2009.
e)	Joint Trading Account — Pursuant to an exemptive order issued by the SEC, the Fund may transfer uninvested cash balances into a joint trading account managed by Wellington Management Company, LLP (“Wellington”). These balances may be invested in one or more repurchase agreements and/or short-term money market instruments.
f)	Repurchase Agreements — A repurchase agreement is an agreement by which the seller of a security agrees to repurchase the security sold at a mutually agreed upon time and price. At the time the Fund enters into a repurchase agreement, the value of the underlying collateral security(ies), including accrued interest, will be equal to or exceed the value of the repurchase agreement. Securities that serve to collateralize the repurchase agreement are held by the Fund’s custodian in book entry or physical form in the custodial account of the Fund or in a third party custodial account. Repurchase agreements are valued at cost plus accrued interest. The Fund, as shown on the Schedule of Investments, had outstanding repurchase agreements as of April 30, 2009.
g)	Forward Foreign Currency Contracts — The Fund may enter into forward foreign currency contracts that obligate the Fund to repurchase/replace or sell currencies at specified future dates. Forward foreign currency contracts may be used to hedge against adverse fluctuations in exchange rates between currencies.

12

	Forward foreign currency contracts involve elements of market risk in excess of the amount reflected in the Statement of Assets and Liabilities. In addition, risks may arise upon entering into these contracts from the potential inability of the counterparties to meet the terms of the contracts and from unanticipated movements in the value of the foreign currencies relative to the U.S. dollar.
h)	Fund Share Valuation and Dividend Distributions to Shareholders — Orders for the Fund’s shares are executed in accordance with the investment instructions of the shareholders. The NAV of the Fund’s shares is determined as of the close of each business day of the Exchange. The NAV is determined separately for each class of the Fund by dividing the Fund’s net assets attributable to that class by the number of shares of the class outstanding. Orders for the purchase of the Fund’s shares prior to the close of the Exchange on any day on which the Exchange is open for business are priced at the NAV determined as of the close of the Exchange. Orders after the close of the Exchange, or on a day on which the Exchange and/or the Fund is not open for business, are priced at the next determined NAV.
	The Fund intends to distribute substantially all of its net investment income and net realized capital gains to shareholders no less frequently than once a year. Normally, dividends from net investment income are declared and paid annually. Dividends are paid on shares beginning on the business day after the day when the funds used to purchase the shares are collected by the transfer agent for the Fund. Unless shareholders specify otherwise, all dividends will be automatically reinvested in additional full or fractional shares of the Fund.
	Distributions from net investment income, realized capital gains and capital are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP with respect to character and timing. These differences include but are not limited to foreign currency gains and losses, losses deferred due to wash sales adjustments, adjustments related to Passive Foreign Investment Companies and certain derivatives, and excise tax regulations. Permanent book and federal income tax basis differences relating to shareholder distributions will result in reclassifications to certain of the Fund’s capital accounts (see Federal Income Taxes: Reclassification of Capital Accounts footnote).
i)	Illiquid and Restricted Securities — The Fund is permitted to invest up to 15% of its net assets in illiquid securities. “Illiquid Securities” are those that may not be sold or disposed of in the ordinary course of business within seven days, at approximately the price used to determine the Fund’s NAV. The Fund may not be able to sell illiquid securities or other investments when its sub-adviser considers it desirable to do so or may have to sell such securities or investments at a price that is lower than the price that could be obtained if the securities or investments were more liquid. A sale of illiquid securities or other investments may require more time and may result in higher dealer discounts and other selling expenses than does the sale of those that are liquid. Illiquid securities and investments also may be more difficult to value, due to the unavailability of reliable market quotations for such securities or investments, and investment in them may have an adverse impact on the Fund’s NAV. The Fund may also purchase certain restricted securities, commonly known as Rule 144A securities, that can be resold to institutions and which may be determined to be liquid pursuant to policies and guidelines established by the Fund’s Board of Directors. The Fund, as shown in the Schedule of Investments, had illiquid or restricted securities as of April 30, 2009.
j)	Credit Risk — Credit risk depends largely on the perceived financial health of bond issuers. In general, the credit rating is inversely related to the credit risk of the issuer. Higher rated bonds generally are deemed to have less credit risk, while lower or unrated bonds are deemed to have higher risk of default. The share price, yield and total return of a Fund which holds securities with higher credit risk may fluctuate more than with less aggressive bond funds.
k)	Prepayment Risks — Most senior floating rate interests and certain debt securities allow for prepayment of principal without penalty. Senior floating rate interests and securities subject to prepayment risk generally offer less potential for gains when interest rates decline, and may offer a greater potential for loss when interest rates rise. In addition, with respect to securities, rising interest rates may cause prepayments to occur at a slower than expected rate, thereby effectively lengthening the maturity of the security and making the security more sensitive to interest rate changes. Prepayment risk is a major risk of mortgage-backed securities and certain asset-backed securities. Accordingly, the potential for the value of a senior floating rate interest or debt security to increase in response to interest rate declines is

13

The Hartford Capital Appreciation Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

	limited. For certain asset-backed securities, the actual maturity may be less than the stated maturity shown in the Schedule of Investments. As a result, the timing of income recognition relating to these securities may vary based upon the actual maturity.
l)	Use of Estimates — The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and the reported amounts of income and expenses during the period. Operating results in the future could vary from the amounts derived from management’s estimates.
m)	Financial Accounting Standards Board Financial Accounting Standards No. 157 — Effective November 1, 2008, the Fund adopted Financial Accounting Standards Board (“FASB”) Statement of Financial Accounting Standards No. 157, “Fair Value Measurements” (“FAS 157”). This standard clarifies the definition of fair value for financial reporting, establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements. Fair value is defined under FAS 157 as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Under FAS 157, a fair value measurement should reflect all of the assumptions that market participants would use in pricing the asset or liability, including assumptions about the risk inherent in a particular valuation technique, the effect of a restriction on the sale or use of an asset, and the risk of nonperformance.
	Various inputs are used in determining the value of the Fund’s investment. These inputs are summarized, per FAS 157, into three broad hierarchy levels. This hierarchy is based on whether the valuation inputs are observable or unobservable. These levels are:

• Level 1 — Quoted prices in active markets for identical securities. Level 1 includes exchange-traded instruments such as domestic equities, some foreign equities, options, futures, mutual funds, ETF’s, and rights and warrants.

• Level 2 — Observable inputs other than Level 1 prices, such as quoted prices for similar securities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the security. Level 2 includes debt securities that are traded less frequently than exchange-traded instruments and that are valued using third party pricing services and foreign equities, whose value is determined using a multi-factor regression model with inputs that are observable in the market; and money market instruments, which are carried at amortized cost.

• Level 3 — Significant unobservable inputs that are supported by little or no market activity. Level 3 includes financial instruments whose values are determined using broker quotes and require significant management judgment or estimation. This category includes broker quoted securities, long dated OTC options and securities where trading has been halted or there are certain restrictions on trading. While these securities are priced using unobservable inputs, the valuation of these securities reflects the best available data and management believes the prices are a good representation of exit price.

Individual securities within any of the above mentioned asset classes may be assigned a different hierarchical level than those presented above, as individual circumstances dictate.

FAS 157 also requires that a roll forward reconciliation be shown for all Level 3 securities from the beginning of the reporting period to the end of the reporting period. Part of this reconciliation includes transfers in and/or out of Level 3. For purposes of this reconciliation, transfers in are shown at the end of period fair value and transfers out are shown at the beginning of period fair value.

Refer to the valuation hierarchy levels summary and the Level 3 roll forward reconciliation found following the Schedule of Investments.

FASB Staff Position No. 157-4 — In April 2009, FASB released FASB Staff Position No. 157-4, “Determining Fair Value When the Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying

14

	Transactions That Are Not Orderly” (“FSP FAS 157-4”). FSP FAS 157-4 provides additional guidance on determining whether a market for a financial asset is not active and a transaction is not distressed when measuring fair value under FAS 157. The FSP also requires additional disclosure detail on debt and equity securities by major investment categories. FSP FAS 157-4 is effective for interim and annual periods ending after June 15, 2009. At this time, management is evaluating the implications of FSP FAS 157-4 and does not believe it will impact valuation but will require additional disclosure. This additional disclosure has not yet been implemented.
n)	Financial Accounting Standards Board Financial Accounting Standards No. 161 — In March 2008, the FASB released Statement of Financial Accounting Standards No. 161, “Disclosures about Derivative Instruments and Hedging Activities” (“FAS 161”). FAS 161 requires companies to disclose information detailing the objectives and strategies for using derivative instruments, the level of derivative activity entered into by the company and any credit risk-related contingent features of the agreements. The application of FAS 161 is required for fiscal years and interim periods beginning after November 15, 2008. At this time, management is evaluating the implications of FAS 161 and has not yet implemented the new disclosure standard.
o)	Indemnifications: Under the Company’s organizational documents, the Company shall indemnify its officers and directors to the full extent required or permitted under Maryland General Corporation Law and the federal securities law. In addition, the Company, on behalf of the Fund, may enter into contracts that contain a variety of indemnifications. The Company’s maximum exposure under these arrangements is unknown. However, the Company has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote.

3. Futures and Options:

Futures and Options Transactions — The Fund may invest in futures and options contracts in order to gain exposure to or protect against changes in the market. A futures contract is an agreement between two parties to buy and sell a security at a set price on a future date. When the Fund enters into such futures contracts, it is required to deposit with a futures commission merchant an amount of “initial margin” of cash, commercial paper or U.S. Treasury Bills. Subsequent payments, called variation margin, to and from the broker, are made on a daily basis as the price of the underlying security fluctuates, making the long and short positions in the futures contract more or less valuable (i.e., mark-to-market), which results in an unrealized gain or loss to the Fund.

At any time prior to the expiration of the futures contract, the Fund may close the position by taking an opposite position, which would effectively terminate the position in the futures contract. A final determination of variation margin is then made, additional cash is required to be paid by or released to the Fund and the Fund realizes a gain or loss.

The use of futures contracts involves elements of market risk, which may exceed the amounts recognized in the Statement of Assets and Liabilities. Changes in the value of the futures contracts may decrease the effectiveness of the Fund’s strategy and potentially result in loss. As of April 30, 2009, there were no outstanding futures contracts.

The premium paid by the Fund for the purchase of a call or put option is included in the Fund’s Statement of Assets and Liabilities as an investment and subsequently “marked-to-market” through net unrealized appreciation (depreciation) of options to reflect the current market value of the option as of the end of the reporting period.

The Fund may write (sell) covered options. “Covered” means that so long as the Fund is obligated as the writer of an option, it will own either the underlying securities or currency or an option to purchase or sell the same underlying securities or currency having an expiration date of the covered option and an exercise price equal to or less than the exercise price of the covered option, or will pledge cash or other liquid securities having a value equal to or greater than the fluctuating market value of the option securities or currencies. The Fund receives a premium for writing a call or put option, which is recorded on the Fund’s Statement of Assets and Liabilities and subsequently “marked-to-market” through net unrealized appreciation (depreciation) of options. There is a risk of loss from a change in the value of such options, which may exceed the related premiums received. As of April 30, 2009, there were no outstanding written options contracts.

15

The Hartford Capital Appreciation Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

4. Federal Income Taxes:

a)

Federal Income Taxes — For federal income tax purposes, the Fund intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code (“IRC”) by distributing substantially all of its taxable net investment income and net realized capital gains to its shareholders and otherwise complying with the requirements of regulated investment companies. The Fund has distributed substantially all of its income and capital gains in prior years and the Fund intends to distribute substantially all of its income and gains during the calendar year ending December 31, 2009. Accordingly, no provision for federal income or excise taxes has been made in the accompanying financial statements. Distributions from short-term capital gains are treated as ordinary income distributions for federal income tax purposes.

b)

The tax character of distributions paid by the Fund for the periods indicated is as follows (as adjusted for dividends payable):

	For the Year Ended		For the Year Ended
	October 31, 2008		October 31, 2007
Ordinary Income	$	474,292	$	455,689
Long-Term Capital Gains *		1,323,670		739,935

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

As of October 31, 2008, the Fund’s components of distributable earnings (deficit) on a tax basis were as follows:

	Amount
Undistributed Ordinary Income	$	162,289
Accumulated Capital Losses*	$	(616,357	)
Unrealized Depreciation†	$	(5,993,452	)
Total Accumulated Deficit	$	(6,447,520	)

*	The Fund has capital loss carryforwards that are identified in the Capital Loss Carryforward note that follows.
†	The differences between book-basis and tax-basis unrealized appreciation (depreciation) are attributable to the tax deferral of wash sales losses, the mark-to-market adjustment for certain derivatives in accordance with IRC Sec. 1256, the mark to market for Passive Foreign Investment Companies and basis differences in real estate investment trusts.

c) Reclassification of Capital Accounts - In accordance with American Institute of Certified Public Accountants (AICPA) Statement of Position 93-2, Determination, Disclosure, and Financial Statement Presentation of Income, Capital Gain, and Return of Capital Distributions by Investment Companies, the Fund has recorded reclassifications in its capital accounts. These reclassifications had no impact on the NAV of the Fund. The reclassifications are a result of permanent differences between GAAP and tax accounting for such items as net operating losses that reduce distribution requirements. Adjustments are made to reflect the impact these items have on current and future distributions to shareholders. Therefore, the source of the Fund’s distributions may be shown in the accompanying Statement of Changes in Net Assets as from net investment income, from net realized gains on investments or from capital depending on the type of book and tax differences that exist. As of October 31, 2008, the Fund recorded reclassifications to decrease undistributed net investment income by $87,735 and increase accumulated net realized gain by $87,735.

16

d) Capital Loss Carryforward - At October 31, 2008 (tax-year-end), the Fund had capital loss carryforwards for U.S. federal income tax purposes of approximately:

Year	Amount
2016	$	616,357
Total	$	616,357

e) Financial Accounting Standards Board Interpretation No. 48 - On July 13, 2006, the FASB released FASB Interpretation No. 48 “Accounting for Uncertainty in Income Taxes” (“FIN 48”). FIN 48 provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. The Fund adopted FIN 48 for fiscal years beginning after December 15, 2006. Management has evaluated the implications of FIN 48 for all open tax years (tax years ended October 31,
2006 — 2008) and has determined there is no impact to the Fund’s financial statements.

5. Expenses:

a)

Investment Management Agreements — Hartford Investment Financial Services, LLC (“HIFSCO”) serves as investment manager to the Fund pursuant to an Investment Management Agreement with The Hartford Mutual Funds, Inc. As investment manager, HIFSCO has overall investment supervisory responsibility for the Fund. In addition, HIFSCO provides administrative personnel, services, equipment, facilities and office space for proper operation of the Fund. HIFSCO has contracted with Wellington for the provision of day-to-day investment management services to the Fund in accordance with the Fund’s investment objective and policies. The Fund pays a fee to HIFSCO, a portion of which may be used to compensate Wellington.

The schedule below reflects the rates of compensation paid to HIFSCO for investment management services rendered during the six-month period ended April 30, 2009; the rates are accrued daily and paid monthly:

Average Daily Net Assets	Annual Fee
On first $500 million		0.8000	%
On next $500 million		0.7000	%
On next $4 billion		0.6500	%
On next $5 billion		0.6475	%
Over $10 billion		0.6450	%

b) Accounting Services Agreement — Pursuant to the Fund Accounting Agreement between Hartford Life Insurance Company (“HLIC”) and the Fund, HLIC provides accounting services to the Fund and receives monthly compensation on the Fund’s average net assets. The Fund’s accounting service fees are accrued daily and paid monthly.

Average Daily Net Assets	Annual Fee
On first $5 billion		0.018	%
On next $5 billion		0.016	%
Over $10 billion		0.014	%

c) Operating Expenses - Allocable expenses incurred by the Company are allocated to each Fund and allocated to classes within the Fund in proportion to the average daily net assets of the Fund and each class, except where allocation of certain expenses is more fairly made directly to the Fund or to specific classes within a Fund. During the six-month period ended April 30, 2009, HIFSCO has contractually limited the total operating expenses of this Fund, exclusive of taxes, interest expense, brokerage commissions, certain distribution expenses and extraordinary expenses as follows:

Class A	Class B	Class C	Class I	Class R3	Class R4	Class R5	Class Y
1.29%	NA	NA	1.04%	1.54%	1.24%	0.94%	NA

17

The Hartford Capital Appreciation Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

d)

Fees Paid Indirectly — The Fund has entered into agreements with State Street Global Markets, LLC and Russell Implementation Services Inc. to partially recapture non-discounted trade commissions. Such rebates are used to pay a portion of the Fund’s expenses. In addition, the Fund’s custodian bank has also agreed to reduce its fees when the Fund maintains cash on deposit in the non-interest-bearing custody account. For the six-month period ended April 30, 2009, these amounts are included in the Statement of Operations.

The ratio of expenses to average net assets in the accompanying financial highlights excludes the reduction in expenses related to fees paid indirectly. Had the fees paid indirectly been included, the annualized expense ratio for the periods listed below would have been as follows:

	Annualized
	Six-Month
	Period			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended
	Ended April			October 31,			October 31,			October 31,			October 31,			October 31,
	30, 2009			2008			2007			2006			2005			2004
Class A Shares		1.27	%		1.11	%		1.11	%		1.17	%		1.22	%		1.32	%
Class B Shares		2.03			1.92			1.91			1.96			1.99			2.03
Class C Shares		1.97			1.84			1.83			1.88			1.91			1.94
Class I Shares		0.91			0.81			0.78			0.88	*
Class R3 Shares		1.50			1.46			1.47	†
Class R4 Shares		1.14			1.12			1.13	‡
Class R5 Shares		0.84			0.82			0.84	§
Class Y Shares		0.74			0.72			0.71			0.73			0.75			0.76

*	From August 31, 2006 (commencement of operations), through October 31, 2006
†	From December 22, 2006 (commencement of operations), through October 31, 2007
‡	From December 22, 2006 (commencement of operations), through October 31, 2007
§	From December 22, 2006 (commencement of operations), through October 31, 2007

e)

Distribution and Service Plan for Class A, B, C, R3 and R4 Shares - HIFSCO is the principal underwriter and distributor of the Fund. HIFSCO is engaged in distribution activities, which include marketing and distribution of shares through broker-dealers, financing distribution costs and maintaining financial books and records. For the six-month period ended April 30, 2009, HIFSCO received front-end load sales charges of $9,431 and contingent deferred sales charges of $1,448 from the Fund.

The Fund has adopted Distribution and Service Plans in accordance with Rule 12b-1 of the Investment Company Act of 1940, as amended, to compensate the distributor (HIFSCO) for activities intended to result in the sale and distribution of Classes A, B, C, R3 and R4 shares and for providing services for shareholders. The Rule 12b-1 plan applicable to Class A shares of the Funds provides for payment of a Rule 12b-1 fee of up to 0.35% of average daily net assets; however, the Board of Directors has currently authorized 12b-1 payments of only up to 0.25%. Some or all of the fee may be used for shareholder servicing expenses with the remainder used for distribution expenses. Some or the entire Rule 12b-1 fee for Class B shares may be remitted to broker-dealers for distribution and/or shareholder account services. Under the Class B Plan, the Fund pays the distributor 1.00% of the average daily net assets of Class B shares that are outstanding for 8 years or less, 0.25% of which is a fee for services provided to existing shareholders with the remainder used for distribution expenses. After eight years, Class B shares convert to Class A shares. Upon conversion to Class A shares, the Class A plan described above will apply to those shares. Under the Class C Plan, the Fund pays the distributor 1.00% of the average daily net assets of Class C shares outstanding, 0.25% of which is intended as a fee for services provided to existing shareholders with the remainder used for distribution expenses. For Class C shares, some or the entire fee may be remitted to broker-dealers for distribution and/or shareholder account services. Class R3 shares have a distribution fee of 0.50% and Class R4 shares have a distribution fee of 0.25%. For Classes R3 and R4 shares, some or the entire fee may be remitted to broker dealers for distribution and/or shareholder account services. The Fund’s 12b-1 fees are accrued daily and paid monthly.

18

	For the six-month period ended April 30, 2009, total sales commissions paid to affiliated brokers/dealers of The Hartford for distributing the Fund’s shares were $237. These commissions are in turn paid to sales representatives of the broker/dealers.
f)	Other Related Party Transactions — Certain officers of the Fund are directors and/or officers of HIFSCO and/or The Hartford or its subsidiaries. For the six-month period ended April 30, 2009, a portion of the Fund’s chief compliance officer’s salary was paid by the Fund in the amount of $24. Hartford Administrative Services Company (“HASCO”), an indirect wholly owned subsidiary of The Hartford, provides transfer agent services to the Fund. HASCO was compensated $14,981 for providing such services. These fees are accrued daily and paid monthly.
g)	Payments from Affiliate:
	The total return in the accompanying financial highlights includes payment from affiliates. Had the payment from affiliates been excluded, the total return for the periods listed below would have been as follows:

	Impact from			Total Return
	Payment from			Excluding
	Affiliate for SEC			Payment from
	Settlement for the			Affiliate for the
	Year Ended			Year Ended
	October 31, 2007			October 31, 2007
Class A		0.03	%		26.11	%
Class B		0.04			25.10
Class C		0.04			25.23
Class I		0.03			26.45
Class Y		0.03			26.62

6.	Investment Transactions:
	For the six-month period ended April 30, 2009, the Fund’s aggregate purchases and sales of investment securities (excluding short-term investments) were as follows:

	Amount
Cost of Purchases Excluding U.S. Government Obligations	$	4,902,380
Sales Proceeds Excluding U.S. Government Obligations		4,735,626

19

The Hartford Capital Appreciation Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

7.	Capital Share Transactions:
	The following information is for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	For the Six-Month Period Ended April 30, 2009												For the Year Ended October 31, 2008
			Shares					Shares							Shares					Shares
			Issued for					Issued		Net Increase					Issued for					Issued		Net Increase
			Reinvested		Shares			from		(Decrease) of					Reinvested		Shares			from		(Decrease) of
	Shares Sold		Dividends		Redeemed			Merger		Shares			Shares Sold		Dividends		Redeemed			Merger		Shares
Class A
Shares		76,766		4,767		(91,125	)		—		(9,592	)		146,914		23,779		(97,067	)		—		73,626
Amount	$	1,588,622	$	97,965	$	(1,814,531	)	$	—	$	(127,944	)	$	5,204,130	$	960,180	$	(3,206,287	)	$	—	$	2,958,023
Class B
Shares		2,576		120		(8,420	)		—		(5,724	)		6,666		5,081		(13,630	)		—		(1,883	)
Amount	$	47,584	$	2,171	$	(150,381	)	$	—	$	(100,626	)	$	214,918	$	183,341	$	(423,963	)	$	—	$	(25,704	)
Class C
Shares		10,679		534		(21,770	)		—		(10,557	)		35,585		8,838		(23,786	)		—		20,637
Amount	$	199,115	$	9,595	$	(389,570	)	$	—	$	(180,860	)	$	1,162,684	$	320,715	$	(707,999	)	$	—	$	775,400
Class I
Shares		14,576		381		(6,022	)		—		8,935			18,052		287		(3,018	)		—		15,321
Amount	$	299,054	$	7,775	$	(119,852	)	$	—	$	186,977		$	583,424	$	11,558	$	(93,550	)	$	—	$	501,432
Class R3
Shares		381		5		(90	)		—		296			347		—		(35	)		—		312
Amount	$	8,239	$	112	$	(1,933	)	$	—	$	6,418		$	12,781	$	3	$	(1,192	)	$	—	$	11,592
Class R4
Shares		2,085		63		(349	)		—		1,799			2,754		34		(110	)		—		2,678
Amount	$	47,317	$	1,380	$	(7,500	)	$	—	$	41,197		$	101,244	$	1,432	$	(3,666	)	$	—	$	99,010
Class R5
Shares		815		31		(88	)		—		758			1,479		8		(93	)		—		1,394
Amount	$	17,890	$	686	$	(1,828	)	$	—	$	16,748		$	57,451	$	352	$	(3,325	)	$	—	$	54,478
Class Y
Shares		6,811		857		(3,602	)		—		4,066			22,380		1,725		(2,635	)		—		21,470
Amount	$	150,408	$	18,800	$	(77,763	)	$	—	$	91,445		$	845,740	$	74,889	$	(100,354	)	$	—	$	820,275

The following reflects the conversion of Class B Shares into Class A Shares (reflected as Class A Shares issued and Class B shares redeemed) for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	Shares		Dollars
For the Six-Month Period Ended April 30, 2009		1,562	$	31,546
For the Year Ended October 31, 2008		3,051	$	111,717

8.	Line of Credit:
	The Fund is one of several Hartford Funds that participate in a $500 million committed revolving line of credit facility. The facility is to be used for temporary or emergency purposes. Under the arrangement, the Fund is required to own securities having a market value in excess of 300% of the total bank borrowings. The interest rate on borrowings varies depending on the nature of the loan. The facility also requires a fee to be paid based on the amount of the commitment. During the six-month period ended April 30, 2009, the Fund did not have any borrowings under this facility.
9.	Industry Classifications:
	Other than the industry classifications “Other Investment Pools and Funds” and “Exchange Traded Funds”, equity industry classifications used in this report are the Global Industry Classification Standard, which was developed by and is the exclusive property and service mark of MSCI, Inc. and Standard & Poor’s.

20

The Hartford Capital Appreciation Fund
Financial Highlights — (Unaudited)

	— Selected Per-Share Data — (a)																													— Ratios and Supplemental Data —
																																				Ratio of			Ratio of			Ratio of
																																				Expenses			Expenses			Expenses
																																				to Average			to Average			to Average
																																				Net Assets			Net Assets			Net Assets
																																				Before			After			After
								Net																												Waivers			Waivers			Waivers
								Realized																												and			and			and
								and Un-									Distrib-								Net											Reimburse-			Reimburse-			Reimburse-			Ratio of
			Net			Pay-		realized						Dividends			utions								Increase			Net								ments and			ments and			ments and			Net Invest-			Port-
	Net Asset		Invest-			ments		Gain						from Net			from			Distri-					(Decrease)			Asset					Net Assets			Including			Including			Excluding			ment			folio
	Value at		ment			from		(Loss) on			Total from			Invest-			Realized			butions		Total			in Net			Value at					at End of			Expenses			Expenses			Expenses			Income to			Turn-
	Beginning		Income			(to)		Invest-			Investment			ment			Capital			from		Distri-			Asset			End of		Total			Period			not Subject			not Subject			not Subject			Average			over
Class	of Period		(Loss)			Affiliate		ments			Operations			Income			Gains			Capital		butions			Value			Period		Return(b)				(000’s	)	to Cap(c)			to Cap(c)			to Cap(c)			Net Assets			Rate(d)
For the Six-Month Period Ended April 30, 2009 (Unaudited) (e)
A	$	23.43	$	0.08		$	—	$	(0.24	)	$	(0.16	)	$	(0.31	)	$	—		$	—	$	(0.31	)	$	(0.47	)	$	22.96		(0.48	)%(f)	$	8,287,491			1.27	%(g)		1.27	%(g)		1.27	%(g)		0.81	%(g)		40	%
B		20.77		—			—		(0.20	)		(0.20	)		(0.05	)		—			—		(0.05	)		(0.25	)		20.52		(0.90	) (f)		934,266			2.13	(g)		2.03	(g)		2.03	(g)		0.04	(g)		—
C		20.91		0.01			—		(0.21	)		(0.20	)		(0.10	)		—			—		(0.10	)		(0.30	)		20.61		(0.85	) (f)		2,382,057			1.98	(g)		1.98	(g)		1.98	(g)		0.10	(g)		—
I		23.41		0.12			—		(0.25	)		(0.13	)		(0.43	)		—			—		(0.43	)		(0.56	)		22.85		(0.32	) (f)		632,222			0.91	(g)		0.91	(g)		0.91	(g)		1.18	(g)		—
R3		24.92		0.07			—		(0.28	)		(0.21	)		(0.37	)		—			—		(0.37	)		(0.58	)		24.34		(0.63	) (f)		14,821			1.51	(g)		1.51	(g)		1.51	(g)		0.60	(g)		—
R4		25.08		0.11			—		(0.27	)		(0.16	)		(0.39	)		—			—		(0.39	)		(0.55	)		24.53		(0.45	) (f)		117,636			1.14	(g)		1.14	(g)		1.14	(g)		0.95	(g)		—
R5		25.21		0.14			—		(0.27	)		(0.13	)		(0.43	)		—			—		(0.43	)		(0.56	)		24.65		(0.30	) (f)		53,644			0.84	(g)		0.84	(g)		0.84	(g)		1.26	(g)		—
Y		25.28		0.15			—		(0.26	)		(0.11	)		(0.45	)		—			—		(0.45	)		(0.56	)		24.72		(0.22	) (f)		1,151,298			0.74	(g)		0.74	(g)		0.74	(g)		1.35	(g)		—
For the Year Ended October 31, 2008 (e)
A		46.08		0.20			—		(19.12	)		(18.92	)		—			(3.73	)		—		(3.73	)		(22.65	)		23.43		(44.46	)		8,682,603			1.12			1.12			1.12			0.54			82
B		41.59		(0.09	)		—		(17.00	)		(17.09	)		—			(3.73	)		—		(3.73	)		(20.82	)		20.77		(44.90	)		1,064,188			1.92			1.92			1.92			(0.29	)		—
C		41.82		(0.06	)		—		(17.12	)		(17.18	)		—			(3.73	)		—		(3.73	)		(20.91	)		20.91		(44.86	)		2,637,037			1.84			1.84			1.84			(0.19	)		—
I		45.90		0.28			—		(19.04	)		(18.76	)		—			(3.73	)		—		(3.73	)		(22.49	)		23.41		(44.27	)		438,528			0.81			0.81			0.81			0.87			—
R3		48.91		0.09			—		(20.35	)		(20.26	)		—			(3.73	)		—		(3.73	)		(23.99	)		24.92		(44.64	)		7,809			1.46			1.46			1.46			0.28			—
R4		49.05		0.22			—		(20.46	)		(20.24	)		—			(3.73	)		—		(3.73	)		(23.97	)		25.08		(44.46	)		75,127			1.12			1.12			1.12			0.60			—
R5		49.15		0.34			—		(20.55	)		(20.21	)		—			(3.73	)		—		(3.73	)		(23.94	)		25.21		(44.30	)		35,734			0.83			0.83			0.83			0.93			—
Y		49.23		0.36			—		(20.58	)		(20.22	)		—			(3.73	)		—		(3.73	)		(23.95	)		25.28		(44.24	)		1,074,711			0.72			0.72			0.72			0.95			—
For the Year Ended October 31, 2007 (e)
A 39.67 0.16 — 9.42												9.58			(0.13	)		(3.04	)		-		(3.17	)		6.41			46.08		26.15	(h)		13,684,583			1.11			1.11			1.11			0.39			72
B		36.25		(0.15	)		—		8.53			8.38			—			(3.04	)		—		(3.04	)		5.34			41.59		25.15	(h)		2,209,870			1.92			1.92			1.92			(0.40	)		—
C		36.40		(0.12	)		—		8.58			8.46			—			(3.04	)		—		(3.04	)		5.42			41.82		25.28	(h)		4,411,286			1.83			1.83			1.83			(0.32	)		—
I		39.69		0.26			—		9.39			9.65			(0.40	)		(3.04	)		—		(3.44	)		6.21			45.90		26.49	(h)		156,616			0.79			0.79			0.79			0.65			—
R3(i)		40.22		0.01			—		8.68			8.69			—			—			—		—			8.69			48.91		21.61	(f)		41			1.47	(g)		1.47	(g)		1.47	(g)		0.04	(g)		—
R4(j)		40.22		0.02			—		8.81			8.83			—			—			—		—			8.83			49.05		21.95	(f)		15,618			1.14	(g)		1.14	(g)		1.14	(g)		0.06	(g)		—
R5(k)		40.22		0.08			—		8.85			8.93			—			—			—		—			8.93			49.15		22.20	(f)		1,165			0.85	(g)		0.85	(g)		0.85	(g)		0.25	(g)		—
Y		42.19		0.34			—		10.06			10.40			(0.32	)		(3.04	)		—		(3.36	)		7.04			49.23		26.66	(h)		1,035,754			0.72			0.72			0.72			0.78			—
For the Year Ended October 31, 2006
A		36.51		0.15			—		6.43			6.58			—			(3.42	)		—		(3.42	)		3.16			39.67		19.56			9,312,766			1.18			1.18			1.18			0.47			74
B		33.90		(0.10	)		—		5.87			5.77			—			(3.42	)		—		(3.42	)		2.35			36.25		18.59			1,868,359			1.97			1.97			1.97			(0.31	)		—
C		34.00		(0.07	)		—		5.89			5.82			—			(3.42	)		—		(3.42	)		2.40			36.40		18.69			2,968,472			1.90			1.90			1.90			(0.25	)		—
I(l)		37.53		—			—		2.16			2.16			—			—			—		—			2.16			39.69		5.76	(f)		5,193			0.88	(g)		0.88	(g)		0.88	(g)		0.17	(g)		—
Y		38.47		0.30			—		6.84			7.14			—			(3.42	)		—		(3.42	)		3.72			42.19		20.07			414,259			0.75			0.75			0.75			0.90			—
For the Year Ended October 31, 2005
A		30.80		0.09			—		5.62			5.71			—			—			—		—			5.71			36.51		18.54			6,071,891			1.26			1.26			1.26			0.31			93
B		28.82		(0.15	)		—		5.23			5.08			—			—			—		—			5.08			33.90		17.63			1,631,199			2.03			2.03			2.03			(0.45	)		—
C		28.88		(0.11	)		—		5.23			5.12			—			—			—		—			5.12			34.00		17.73			1,834,562			1.94			1.94			1.94			(0.37	)		—
Y		32.29		0.21			—		5.97			6.18			—			—			—		—			6.18			38.47		19.14			245,163			0.78			0.78			0.78			0.76			—
For the Year Ended October 31, 2004
A		26.50		(0.01	)		—		4.31			4.30			—			—			—		—			4.30			30.80		16.23			4,203,178			1.35			1.35			1.35			(0.05	)		78
B		24.97		(0.21	)		—		4.06			3.85			—			—			—		—			3.85			28.82		15.42			1,432,121			2.06			2.06			2.06			(0.78	)		—
C		25.00		(0.18	)		—		4.06			3.88			—			—			—		—			3.88			28.88		15.52			1,348,972			1.97			1.97			1.97			(0.68	)		—
Y		27.64		0.11			—		4.54			4.65			—			—			—		—			4.65			32.29		16.82			116,527			0.79			0.79			0.79			0.50			—

(a)	Information presented relates to a share outstanding throughout the indicated period.
(b)	Assumes initial investment at net asset value at the beginning of each period, reinvestment of all distributions, the complete redemption of the investment at net asset value at the end of each period and no sales charge. Total return would be reduced if sales charges were taken into account.
(c)	Ratios do not include fees paid indirectly (See Expenses in the accompanying Notes to Financial Statements).
(d)	Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between the classes of shares issued.
(e)	Per share amounts have been calculated using average shares outstanding method.
(f)	Not annualized.
(g)	Annualized.
(h)	Total return without the inclusion of the Payments from (to) Affiliate, as noted on the Statement of Operations, can be found in Expenses in the accompanying Notes to Financial Statements.
(i)	Commenced operations on December 22, 2006.
(j)	Commenced operations on December 22, 2006.
(k)	Commenced operations on December 22, 2006.
(l)	Commenced operations on August 31, 2006.

21

The Hartford Capital Appreciation Fund

Directors and Officers (Unaudited)

The Board of Directors appoints officers who are responsible for the day-to-day operations of the Fund and who execute policies formulated by the Directors. Each director serves until his or her death, resignation, or retirement or until the next annual meeting of shareholders is held or until his or her successor is elected and qualifies.

Directors and officers who are employed by or who have a financial interest in The Hartford are considered “interested” persons of the Fund pursuant to the Investment Company Act of 1940, as amended. Each officer and three of the Fund’s directors, as noted in the chart below, are “interested” persons of the Fund. Each director serves as a director for The Hartford Mutual Funds, Inc., The Hartford Mutual Funds II, Inc., The Hartford Income Shares Fund, Inc., Hartford Series Fund, Inc., and Hartford HLS Series Fund II, Inc., which collectively consist of 100 funds. Correspondence may be sent to directors and officers c/o Hartford Mutual Funds, P.O. Box 2999, Hartford, Connecticut 06104-2999, except that correspondence to Ms. Fagely may be sent to 500 Bielenberg Drive, Woodbury, Minnesota 55125.

The table below sets forth, for each director and officer, his or her name, year of birth, current position with the Fund and date first elected or appointed to The Hartford Mutual Funds, Inc. (“MF”) and The Hartford Mutual Funds II, Inc. (“MF2”), principal occupation, and, for directors, other directorships held. The Fund’s statement of additional information contains further information on the directors and is available free of charge by calling 1-888-843-7824 or writing to Hartford Mutual Funds, P.O. Box 64387, St. Paul, MN 55164-0387.

Information on the aggregate remuneration paid to the directors of the Fund can be found in the Statement of Operations herein. The Fund pays a portion of the Chief Compliance Officer’s compensation, but does not pay salaries or compensation to any of its officers or directors who are employed by The Hartford.

Non-Interested Directors

Lynn S. Birdsong (1946) Director since 2003, Co-Chairman of the Investment Committee

Mr. Birdsong is a private investor. Since 1981, Mr. Birdsong has been a partner in Birdsong Company, an advertising specialty firm. Since 2003, Mr. Birdsong has been an independent director of The Japan Fund. From 2003 to March 2005, Mr. Birdsong was an independent director of the Atlantic Whitehall Funds. From 1979 to 2002, Mr. Birdsong was a managing director of Zurich Scudder Investments, an investment management firm. During his employment with Scudder, Mr. Birdsong was an interested director of The Japan Fund.

Robert M. Gavin, Jr. (1940) Director since 2002 (MF) and 1986 (MF2), Chairman of the Board since 2004

Dr. Gavin is an educational consultant. Prior to September 1, 2001, he was President of Cranbrook Education Community and prior to July 1996, he was President of Macalester College, St. Paul, Minnesota.

Duane E. Hill (1945) Director since 2001 (MF) and 2002 (MF2), Chairman of the Nominating Committee

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

Sandra S. Jaffee (1941) Director since 2005

Ms. Jaffee is Chairman and Chief Executive Officer of Fortent (formerly Searchspace Group), a leading provider of compliance/regulatory technology to financial institutions. Ms. Jaffee served as an Entrepreneur in Residence with Warburg Pincus, a private equity firm, from August 2004 to August 2005. From September 1995 to July 2004, Ms. Jaffee served as Executive Vice President at Citigroup, where she was President and Chief Executive Officer of Citibank’s Global Securities Services (1995-2003).

William P. Johnston (1944) Director since 2005, Chairman of the Compliance Committee

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

22

Phillip O. Peterson (1944) Director since 2002 (MF) and 2000 (MF2), Chairman of the Audit Committee

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

Lemma W. Senbet (1946) Director since 2005

Dr. Senbet is the William E. Mayer Chair Professor of Finance at the University of Maryland, Robert H. Smith School of Business. He was chair of the Finance Department during 1998-2006. Previously he was an endowed professor of finance at the University of Wisconsin-Madison. Also, he was director of the Fortis Funds from March 2000-July 2002. Dr. Senbet served the finance profession in various capacities, including as director of the American Finance Association and President of the Western Finance Association. In 2006, Dr. Senbet was inducted Fellow of Financial Management Association International for his career-long distinguished scholarship and professional service.

Interested Directors and Officers

Thomas M. Marra* (1958) Director since 2002

Mr. Marra has served as President and Chief Operating Officer of The Hartford Financial Services Group, Inc. (“The Hartford”) since 2007. Mr. Marra currently serves as Director of Hartford Life, Inc. (“HL, Inc.”). Mr. Marra served as Chief Operating Officer of Hartford Life Insurance Company, Inc. (“Hartford Life”) (2000-2008), as President of Hartford Life (2002-2008) and as Director of Hartford Life’s Investment Products Division from 1998 to 2000.

• On February 24, 2009, The Hartford and Mr. Marra determined to enter into a mutually agreed separation whereby Mr. Marra will retire, and his role as an executive officer and employee of The Hartford will terminate, effective July 3, 2009. Mr. Marra will resign his position as a Director of the Fund effective June 25, 2009.

Lowndes A. Smith (1939) Director since 2002, Co-Chairman of the Investment Committee

Mr. Smith served as Vice Chairman of The Hartford from February 1997 to January 2002, as President and Chief Executive Officer of Hartford Life, Inc. from February 1997 to January 2002, and as President and Chief Operating Officer of The Hartford Life Insurance Companies from January 1989 to January 2002. Mr. Smith serves as a Director of White Mountains Insurance Group, Ltd., One Beacon Insurance, Symetra Financial and as a Managing Director of Whittington Gray Associates.

John C. Walters* (1962) Director since 2008

Mr. Walters currently serves as Chief Executive Officer, President and Director of HL, Inc. Mr. Walters previously served as President of the U.S. Wealth Management Division of Hartford Life, Inc., as Co-Chief Operating Officer of Hartford Life Insurance Company (2007-2008) and as Executive Vice President and Director of its Investment Products Division (2000-2008). Mr. Walters also serves as Chairman of the Board, Chief Executive Officer, President and Director of Hartford Life Insurance Company and as Executive Vice President of The Hartford. In addition, Mr. Walters is Manager of HL Investment Advisors, LLC (“HL Advisors”).

* Mr. Walters previously served as President and Chief Executive Officer of the Fund (2007 — 2009).

Other Officers

Robert M. Arena, Jr. (1968) President and Chief Executive Officer since 2009 (served as Vice President of the Fund (2006 — 2009))

Mr. Arena serves as Executive Vice President of Hartford Life Insurance Company, (“Hartford Life”). Additionally, Mr. Arena is Director and Senior Vice President of Hartford Administrative Services Company, (“HASCO”), Manager, Chief Executive Officer and President of Hartford Investment Financial Services, LLC (“HIFSCO”) and HL Advisors. Prior to joining The Hartford in 2004, he was Senior Vice President in charge of Product Management for American Skandia/Prudential in the individual annuities division. Mr. Arena joined American Skandia in 1996.

Tamara L. Fagely (1958) Vice President, Treasurer and Controller since 2002 (MF) 1993 (MF2)

Ms. Fagely has been a Vice President of HASCO since 1998 and Chief Financial Officer since 2006. Currently Ms. Fagely is a Vice President of Hartford Life. She served as Assistant Vice President of Hartford Life from December 2001 through March 2005. In addition, Ms. Fagely is Controller and Chief Financial Officer of HIFSCO.

Brian Ferrell (1962) AML Compliance Officer since 2008

Mr. Ferrell has served as Assistant Vice President and AML Compliance Officer for The Hartford since 2006 and as AML Compliance Officer for HASCO and Hartford Investor Services Company, LLC (“HISC”) since 2008. Prior to joining The Hartford in 2006, Mr. Ferrell held various positions at the U.S. Department of the Treasury, (the “Treasury”), from 2001 to 2006 where he served as Chief Counsel for the Treasury’s Financial Crimes Enforcement Network, (“FinCEN”) from 2005 — 2006.

23

The Hartford Capital Appreciation Fund
Directors and Officers (Unaudited) — (continued)

Thomas D. Jones, III (1965) Vice President and Chief Compliance Officer since 2006

Mr. Jones serves as Chief Compliance Officer for the Hartford Mutual Funds and Vice President and Director of Securities Compliance for The Hartford. He is also Vice President of HIFSCO, HL Advisors, and Hartford Life Insurance Company. Mr. Jones joined The Hartford in 2006 from SEI Investments, where he served as Chief Compliance Officer for its mutual funds and investment advisers. Prior to joining SEI, Mr. Jones was First Vice President and Compliance Director for Merrill Lynch Investment Managers (Americas) (“MLIM”), where he worked from 1992-2004. At MLIM, Mr. Jones was responsible for the compliance oversight of various investment products, including mutual funds, wrap accounts, institutional accounts and alternative investments.

Edward P. Macdonald (1967) Vice President, Secretary and Chief Legal Officer since 2005

Mr. Macdonald serves as Assistant General Counsel and Assistant Vice President of The Hartford and Chief Legal Officer and Vice President of HIFSCO. He also serves as Vice President and Secretary of HASCO, Assistant Vice President of Hartford Life, and Chief Legal Officer, Secretary and Vice President of HL Advisors. Prior to joining The Hartford in 2005, Mr. Macdonald was Chief Counsel, Investment Management for Prudential Financial (formerly American Skandia Investment Services, Inc.). He joined Prudential in April 1999.

Vernon J. Meyer (1964) Vice President since 2006

Mr. Meyer serves as Senior Vice President of Hartford Life and as Director of its Investment Advisory Group in the Individual Markets Group segment. He also serves as Senior Vice President of HIFSCO and HL Advisors. Prior to joining The Hartford in 2004, Mr. Meyer was with MassMutual which he joined in 1987.

D. Keith Sloane (1960) Vice President since 2009

Mr. Sloane is a Senior Vice President of Hartford Life where he serves as Director of mutual fund product management for The Hartford’s mutual funds and 529 college savings businesses. Additionally, Mr. Sloane currently serves as Senior Vice President of HIFSCO, HL Advisors, and HASCO. Prior to joining The Hartford in 2007, Mr. Sloane was Director of product marketing and led the mutual fund business for Wachovia Securities (“Wachovia”) in their investment products group. Mr. Sloane joined Wachovia in 1995.

Jane Wolak (1961) Vice President since 2009

Ms. Wolak currently serves as Vice President of Hartford Life. Ms. Wolak joined Hartford Life as Vice President, Retail Product Services in May 2007. She is also Vice President of HASCO. Previously, Ms. Wolak was with Sun Life Financial where she held the position of Vice President, Service Center Operations from 2001 — 2007.

HOW TO OBTAIN A COPY OF THE FUND’S PROXY VOTING POLICIES AND VOTING RECORDS

A description of the policies and procedures that the Fund uses to determine how to vote proxies relating to portfolio securities and a record of how the Fund voted any proxies for the twelve-month period ended June 30, 2008 is available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov.

QUARTERLY PORTFOLIO HOLDINGS INFORMATION

The Fund files a complete schedule of portfolio holdings with the Commission for the first and third quarters of each fiscal year on Form N-Q. The Fund’s Forms are available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov. The Form N-Q may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330.

24

The Hartford Capital Appreciation Fund
Expense Example (Unaudited)

Your Fund’s Expenses

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments and contingent deferred sales charges (CDSC) (2) ongoing costs including management fees; distribution fees; and other fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the period of October 31, 2008 through April 30, 2009.

Actual Expenses

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

Hypothetical Example for Comparison Purposes

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

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads) and CDSC. Therefore, the second line 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 are equal to the Fund’s annualized expense ratios multiplied by average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

	Actual return						Hypothetical (5% return before expenses)
					Expenses paid						Expenses paid					Days in
					during the period						during the period					the		Days
	Beginning		Ending Account		October 31, 2008		Beginning		Ending Account		October 31,		Annualized			current		in the
	Account Value		Value		through		Account Value		Value		2008 through		expense			1/2		full
	October 31, 2008		April 30, 2009		April 30, 2009		October 31, 2008		April 30, 2009		April 30, 2009		ratio			year		year
Class A	$	1,000.00	$	995.18	$	6.28	$	1,000.00	$	1,018.49	$	6.35		1.27	%		181		365
Class B	$	1,000.00	$	991.03	$	10.02	$	1,000.00	$	1,014.72	$	10.14		2.03			181		365
Class C	$	1,000.00	$	991.48	$	9.77	$	1,000.00	$	1,014.97	$	9.89		1.98			181		365
Class I	$	1,000.00	$	996.82	$	4.50	$	1,000.00	$	1,020.28	$	4.55		0.91			181		365
Class R3	$	1,000.00	$	993.70	$	7.46	$	1,000.00	$	1,017.30	$	7.55		1.51			181		365
Class R4	$	1,000.00	$	995.48	$	5.64	$	1,000.00	$	1,019.14	$	5.70		1.14			181		365
Class R5	$	1,000.00	$	996.98	$	4.15	$	1,000.00	$	1,020.62	$	4.20		0.84			181		365
Class Y	$	1,000.00	$	997.79	$	3.66	$	1,000.00	$	1,021.12	$	3.70		0.74			181		365

25

The Hartford Capital Appreciation II Fund

Table of Contents

Manager Discussions (Unaudited)	2
Financial Statements
Schedule of Investments at April 30, 2009 (Unaudited)	4
Statement of Assets and Liabilities at April 30, 2009 (Unaudited)	9
Statement of Operations for the Six Month Period Ended April 30, 2009 (Unaudited)	10
Statement of Changes in Net Assets for the Six Month Period Ended April 30, 2009 (Unaudited) and the Year Ended October 31, 2008	11
Notes to Financial Statements (Unaudited)	12
Financial Highlights (Unaudited)	22
Directors and Officers (Unaudited)	23
How to Obtain a Copy of the Fund’s Proxy Voting Policies and Proxy Voting Records (Unaudited)	25
Quarterly Portfolio Holdings Information (Unaudited)	25
Expense Example (Unaudited)	26

The Hartford Capital Appreciation II Fund
(subadvised by Wellington Management Company, LLP)

Performance Overview(1) 4/29/05 — 4/30/09
Growth of a $10,000 investment in Class A which includes Sales Charge

Russell 3000 Index is an unmanaged index that measures the performance of the 3,000 largest U.S. companies based on total market capitalization.

You cannot invest directly in an index.

The value of shares will fluctuate so that, when redeemed, shares may be worth more or less than their original cost. The chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.

Investment objective — Seeks growth of capital.

Average Annual Total Returns(2,3,4) (as of 4/30/09)

	Inception		1			Since
	Date		Year			Inception
Capital Appreciation II A#		4/29/05		-35.42	%		-0.40	%
Capital Appreciation II A##		4/29/05		-38.97	%		-1.80	%
Capital Appreciation II B#		4/29/05		-35.82	%		-1.16	%
Capital Appreciation II B##		4/29/05		-39.03	%		-1.60	%
Capital Appreciation II C#		4/29/05		-35.86	%		-1.10	%
Capital Appreciation II C##		4/29/05		-36.51	%		-1.10	%
Capital Appreciation II I#		4/29/05		-35.14	%		-0.16	%
Capital Appreciation II R3#		4/29/05		-35.54	%		-0.44	%
Capital Appreciation II R4#		4/29/05		-35.33	%		-0.22	%
Capital Appreciation II R5#		4/29/05		-35.20	%		-0.08	%
Capital Appreciation II Y#		4/29/05		-35.05	%		0.02	%

#	Without sales charge
##	With sales charge

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)	Growth of a $10,000 investment in Classes B, C, I, R3, R4, R5 and Y shares will vary from results seen above due to differences in the expenses charged to these share classes.
(2)	Class I shares commenced operations on 8/31/06. Performance prior to 8/31/06 reflects Class A performance. Class R3, R4 and R5 shares commenced operations on 12/22/06. Performance prior to 12/22/06 reflects Class Y performance.
(3)	The initial investment in Class A shares reflects the maximum sales charge and Classes B and C reflect CDSC.
(4)	Total returns presented above were calculated using the Fund’s net asset value available to shareholders for sale or redemption of Fund shares on April 30, 2009, which excludes investment transactions as of this date.

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

Portfolio Managers
Michael T. Carmen, CFA, CPA	Nicholas M Choumenkovitch	Saul J. Pannell, CFA
Senior Vice President, Partner	Senior Vice President	Senior Vice President, Partner
Frank D. Catrickes, CFA, CMT	David W. Palmer, CFA
Senior Vice President, Partner	Vice President

How did the Fund perform?

The Class A shares of The Hartford Capital Appreciation Fund II returned 0.69%, before sales charge, for the six-month period ended April 30, 2009, outperforming its benchmark, the Russell 3000 Index, which returned -7.46% for the same period. The Fund also outperformed the -2.77% return of the average fund in the Lipper Multi-Cap Growth Funds peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

Broad U.S. equity markets fell during the period, but this overall decline masks two significantly different market environments. From the beginning of November through early March stocks fell sharply, reflecting deepening economic worries and concerns over the U.S. government’s increasing involvement in the economy. From early March through the end of April stocks rallied as investors came to believe that a Depression-like scenario was less likely. Sector returns diverged widely in this environment, with weakness in Financials (-26%), Industrials (-11%), and Energy (-11%) overshadowing relative strength in Information Technology (+6%), Consumer Discretionary (+6%), and Telecommunication Services (+3%).

2

The Fund outperformed its benchmark primarily due to stock selection. Selection was positive in seven of ten economic sectors, led by Financials, Energy, Health Care, and Consumer Staples. Selection detracted from relative (i.e. performance of the Fund as measured against the benchmark) returns in the Information Technology and Industrials sectors. Allocation among sectors, a result of the bottom-up (i.e. stock by stock fundamental research) stock selection process, also was additive, largely due to overweight (i.e. the Fund’s sector position was greater than the benchmark position) positions in Health Care, Financials, and Consumer Discretionary. A modest cash position also aided relative results.

The largest contributors to relative and absolute (i.e. total return) returns were Schering-Plough (Health Care), Goldman Sachs (Financials), and Aecom Technology (Industrials). Schering-Plough, a global health care company, saw its shares rise on news of a definitive merger agreement with Merck. Shares of bank holding company Goldman Sachs moved higher as the firm’s relatively clean balance sheet and stated desire to pay back its government funding attracted investors. Aecom Technology, a global provider of professional, technical, and management support services, reported strong earnings and backlog gains supported by solid growth across segments and geographies, pushing its shares higher.

Delta Air Lines (Industrials), Marsh & McLennan (Financials), and Corinthian Colleges (Consumer Discretionary) detracted most from relative returns. Delta Air Lines, the world’s largest airline, reported a quarterly loss on merger costs and bad fuel hedges. In addition, investors were concerned that demand destruction would overshadow the benefits of industry-wide capacity reductions, contributing to a downturn in its share price. Shares of Marsh & McLennan, a global provider of insurance, reinsurance brokering, and risk consulting services, came under pressure from growing concerns that the adverse global economic and financial environment would negatively impact earnings. Corinthian Colleges, a post-secondary education services company with operations in the United States and Canada, saw its shares sink in sympathy with other for-profit education companies on concerns of the potential for greater government involvement in the industry. General Electric (Industrials) and Bank of America (Financials) were among the largest detractors in absolute terms.

What is the outlook?

It is increasingly clear that the U.S. is in a deep recession, notwithstanding the recent stock market rally. Unemployment is rising sharply, the housing slowdown continues, and the consumer spending is contracting. The government is reshaping the financial playing field through actions ranging from stimulus packages to massive loans to impaired private sector companies, all taken with an eye towards thawing frozen credit markets and expanding purchasing power. These moves will help mitigate some of the negative economic pressures, and while the outlook remains uncertain, markets have begun to anticipate a recovery.

In this environment we continue to focus our efforts on stock-by-stock fundamental research across the Fund’s opportunistic and complementary investment strategies. These bottom-up investment decisions have resulted in reductions to Health Care and Industrials exposure and increases in exposure to Consumer Discretionary and Financials. At the end of the period the Fund was most overweight in Consumer Discretionary, Financials, and Health Care and most underweight (i.e. the Fund’s sector position was less than the benchmark position) Consumer Staples, Utilities, and Energy.

Diversification by Industry
as of April 30, 2009

	Percentage of
Industry	Net Assets
Automobiles & Components		1.7	%
Banks		1.2
Capital Goods		7.1
Consumer Durables & Apparel		2.5
Consumer Services		2.9
Diversified Financials		7.4
Energy		9.5
Food & Staples Retailing		0.6
Food, Beverage & Tobacco		3.4
Health Care Equipment & Services		5.7
Household & Personal Products		1.0
Insurance		6.2
Materials		4.6
Media		2.7
Pharmaceuticals, Biotechnology & Life Sciences		9.1
Real Estate		1.2
Retailing		5.1
Semiconductors & Semiconductor Equipment		1.2
Software & Services		9.4
Technology Hardware & Equipment		7.9
Telecommunication Services		2.1
Transportation		3.1
Utilities		1.5
Short-Term Investments		2.3
Other Assets and Liabilities		0.6
Total		100.0	%

3

The Hartford Capital Appreciation II Fund

Schedule of Investments
April 30, 2009 (Unaudited)
(000’s Omitted)

Shares or Principal Amount ╬			Market Value ╪
COMMON STOCKS — 97.0%
		Automobiles & Components — 1.7%
	74	Daimler AG	$	2,640
	631	Dongfeng Motor Group Co., Ltd.		469
	1,446	Ford Motor Co. •		8,650
	429	TRW Automotive Holdings Corp. •		3,696
				15,455
		Banks — 1.2%
	430	HSBC Holding plc		3,057
	17	Standard Chartered plc		268
	76	Sumitomo Mitsui Financial Group, Inc. •		2,636
	417	Turkiye Garanti Bankasi A.S.		874
	185	Wells Fargo & Co.		3,698
				10,533
		Capital Goods — 7.1%
	244	Aecom Technology Corp. •		6,278
	13	Alliant Techsystems, Inc. •		1,019
	35	AMETEK, Inc.		1,118
	5	Axsys Technologies, Inc. •		213
	94	Beijing Enterprises Holdings, Ltd.		411
	44	Boeing Co.		1,765
	14	Briggs & Stratton Corp.		205
	48	Caterpillar, Inc.		1,718
	51	Chiyoda Corp.		306
	11	Cummins, Inc.		367
	33	Danaher Corp.		1,905
	126	Deere & Co.		5,215
	75	Dover Corp.		2,315
	10	Eaton Corp.		458
	10	First Solar, Inc. •		1,807
	283	General Electric Co.		3,575
	86	Hansen Transmissions •		188
	77	Honeywell International, Inc.		2,410
	196	Illinois Tool Works, Inc.		6,439
	16	Ingersoll-Rand Co. Class A		346
	36	Lindsay Corp.		1,409
	53	Lockheed Martin Corp.		4,183
	17	Pall Corp.		455
	5	Parker-Hannifin Corp.		245
	122	Pentair, Inc.		3,254
	118	Raytheon Co.		5,315
	6	Siemens AG		432
	40	Siemens AG ADR		2,664
	162	Sunpower Corp. •		4,444
	40	Sunpower Corp. Class B •		1,025
	22	Terex Corp. •		301
	6	Vestas Wind Systems A/S •		382
				62,167
		Commercial & Professional Services — 0.0%
	27	Monster Worldwide, Inc. •		372
		Consumer Durables & Apparel — 2.5%
	947	China Dongxiang Group Co.		460
	27	D.R. Horton, Inc.		346
	58	Hanesbrands, Inc. •		947
	620	Jarden Corp. •		12,467
	29	Liz Claiborne, Inc.		137
	22	NIKE, Inc. Class B		1,145
	73	Pool Corp.		1,301
	334	Pulte Homes, Inc.		3,850
	35	Smith & Wesson Holding Corp. •		253
	13	Whirlpool Corp.		571
				21,477
		Consumer Services — 2.9%
	3	Apollo Group, Inc. Class A •		189
	36	Burger King Holdings, Inc.		583
	104	Coinstar, Inc. •		3,708
	372	Corinthian Colleges, Inc. •		5,723
	63	ITT Educational Services, Inc. •		6,324
	87,066	Rexlot Holdings Ltd. •		5,064
	2,613	Shangri-La Asia Ltd.		3,841
				25,432
		Diversified Financials — 7.4%
	40	American Express Co.		1,012
	160	Ameriprise Financial, Inc.		4,217
	494	Bank of America Corp.		4,412
	910	BM & F Bovespa S.A.		3,742
	60	Capital One Financial Corp.		1,001
	225	China Everbright Ltd.		435
	391	CIT Group, Inc.		867
	61	Deutsche Boerse AG		4,489
	95	Discover Financial Services, Inc.		774
	139	Goldman Sachs Group, Inc.		17,810
	459	ING Groep N.V.		4,186
	91	Invesco Ltd.		1,342
	146	JP Morgan Chase & Co.		4,823
	158	Julius Baer Holding Ltd.		5,179
	170	Oaktree Capital ■ •		2,295
	290	PennantPark Investment Corp.		1,594
	208	TD Ameritrade Holding Corp. •		3,311
	250	UBS AG •		3,436
	29	UBS AG ADR •		391
				65,316
		Energy — 9.5%
	49	Anadarko Petroleum Corp.		2,092
	21	Apache Corp.		1,508
	14	Atwood Oceanics, Inc. •		310
	54	Baker Hughes, Inc.		1,932
	95	BG Group plc		1,516
	66	Cameco Corp.		1,508
	51	Canadian Natural Resources Ltd.		2,351
	85	Canadian Natural Resources Ltd. ADR		3,906
	90	Consol Energy, Inc.		2,801
	12	Dril-Quip, Inc. •		406
	41	EOG Resources, Inc.		2,622
	31	Exxon Mobil Corp.		2,047
	201	Halliburton Co.		4,064
	22	Helmerich & Payne, Inc.		677
	42	Hess Corp.		2,320
	382	Karoon Gas Australia Ltd. •		1,519
	107	Lundin Petroleum Ab •		693
	18	Nabors Industries Ltd. •		268
	30	National Oilwell Varco, Inc. •		897
	171	Newfield Exploration Co. •		5,338
	77	Noble Energy, Inc.		4,381
	269	OAO Gazprom Class S ADR		4,814
	18	Occidental Petroleum Corp.		1,035
	48	Petro-Canada		1,514
	23	Petroleo Brasileiro S.A. ADR		759
	93	SBM Offshore N.V.		1,503
	110	Schlumberger Ltd.		5,383

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

4

Shares or Principal Amount ╬			Market Value ╪
COMMON STOCKS — 97.0% — (continued)
		Energy — 9.5% — (continued)
	53	Suncor Energy, Inc. ADR	$	1,336
	123	Talisman Energy, Inc.		1,543
	29	Total S.A.		1,467
	127	Total S.A. ADR		6,311
	897	Uranium One, Inc. •		2,480
	236	USEC, Inc. •		1,458
	332	Weatherford International Ltd. •		5,526
	158	XTO Energy, Inc.		5,462
				83,747
		Food & Staples Retailing — 0.6%
	13	BJ’s Wholesale Club, Inc. •		431
	140	Kroger Co.		3,024
	87	Sysco Corp.		2,023
				5,478
		Food, Beverage & Tobacco — 3.4%
	122	Altria Group, Inc.		1,989
	23	Bunge Ltd. Finance Corp.		1,124
	2,923	Chaoda Modern Agriculture		1,662
	22	Dr Pepper Snapple Group •		462
	7	Green Mountain Coffee Roasters •		502
	42	Groupe Danone ⌂		2,013
	131	Imperial Tobacco Group plc		2,978
	1	Japan Tobacco, Inc.		2,671
	5,089	Marine Harvest •		2,293
	75	Molson Coors Brewing Co.		2,861
	95	Nestle S.A.		3,094
	18	Pepsi Bottling Group, Inc.		560
	43	Perdigao S.A.		1,273
	9	Philip Morris International, Inc.		333
	52	SABMiller plc		864
	99	Tsingtao Brewery Co., Ltd.		257
	158	Tyson Foods, Inc. Class A		1,669
	131	Unilever N.V. NY Shares ADR		2,596
	1,037	Want Want China Holdings Ltd.		517
				29,718
		Health Care Equipment & Services — 5.7%
	148	Aetna, Inc. ‡		3,257
	136	Cardinal Health, Inc.		4,592
	24	China Medical Technologies, Inc. ADR		465
	97	CIGNA Corp.		1,914
	328	Covidien Ltd.		10,808
	14	Hologic, Inc. •		211
	9	Intuitive Surgical, Inc. •		1,262
	94	McKesson Corp.		3,489
	228	Medtronic, Inc.		7,302
	169	St. Jude Medical, Inc. •		5,661
	439	UnitedHealth Group, Inc.		10,314
	19	Varian Medical Systems, Inc. •		625
				49,900
		Household & Personal Products — 1.0%
	279	Bare Escentuals, Inc. •		2,581
	12	Clorox Co.		682
	60	Energizer Holdings, Inc. •		3,409
	103	Hengan International Group Co., Ltd.		428
	16	L’Oreal S.A.		1,169
				8,269
		Insurance — 6.2%
	428	ACE Ltd.		19,809
	23	Aflac, Inc.		662
	57	Everest Re Group Ltd.		4,274
	44	Fidelity National Financial, Inc.		798
	42	First American Financial Corp.		1,168
	532	Marsh & McLennan Cos., Inc.		11,213
	5	Metlife, Inc.		137
	14	Muenchener Rueckversicherungs NPV		1,931
	26	PartnerRe Ltd.		1,800
	85	Platinum Underwriters Holdings Ltd.		2,457
	43	Prudential Financial, Inc.		1,227
	103	Reinsurance Group of America, Inc.		3,265
	146	Scor SE		3,064
	187	Unum Group		3,055
				54,860
		Materials — 4.6%
	28	Agnico Eagle Mines Ltd.		1,241
	15	Alcoa, Inc.		135
	5	AngloGold Ltd. ADR		159
	54	Anhui Conch Cement Co., Ltd.		355
	13	Aracruz Celulose S.A. ADR		150
	94	ArcelorMittal ADR		2,212
	22	Celanese Corp.		466
	60	Cemex S.A. de C.V. ADR •		448
	105	Century Aluminum Co. •		425
	198	China National Building Material Co., Ltd.		413
	43	Cliff’s Natural Resources, Inc.		995
	101	Companhia Vale do Rio Doce ADR		1,671
	7	Compania De Minas Buenaventur ADR		158
	162	CRH plc		4,183
	11	Eagle Materials, Inc.		318
	19	FMC Corp.		907
	7	Franco-Nevada Corp.		159
	301	Huabao International Holdings Ltd.		213
	89	Impala Platinum Holdings Ltd.		1,693
	25	International Paper Co.		322
	111	Mining and Metallurgical Co. Norilsk Nickel ADR		914
	12	Mosaic Co.		467
	77	Newmont Mining Corp.		3,085
	36	Osisko Mining Corp. •		169
	211	Owens-Illinois, Inc. •		5,158
	13	Potash Corp. of Saskatchewan, Inc.		1,156
	7	Randgold Resources Ltd. ADR		326
	180	Rexam plc		833
	45	Rio Tinto plc		1,847
	5	Royal Gold, Inc.		167
	12	Scotts Miracle-Gro Co. Class A		405
	47	Steel Dynamics, Inc.		584
	474	Sterlite Industries Ltd.		4,023
	22	Syngenta AG ADR		917
	11	United States Steel Corp.		303
	159	Vedanta Resources plc		2,490
	20	Yamana Gold, Inc.		161
				39,628
		Media — 2.7%
	137	CBS Corp. Class B		965
	743	Comcast Corp. Class A		11,487
	250	Comcast Corp. Special Class A		3,663
	23	DreamWorks Animation SKG, Inc. •		552
	12	Marvel Entertainment, Inc. •		369
	16	Viacom, Inc. Class B •		302
	331	Virgin Media, Inc.		2,556

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

5

The Hartford Capital Appreciation II Fund
Schedule of Investments — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

Shares or Principal Amount ╬			Market Value ╪
COMMON STOCKS — 97.0% — (continued)
		Media — 2.7% — (continued)
	195	Walt Disney Co.	$	4,264
				24,158
		Pharmaceuticals, Biotechnology & Life Sciences — 9.1%
	41	Abbott Laboratories		1,724
	168	Alkermes, Inc. •		1,285
	215	Amgen, Inc. •		10,401
	35	Amylin Pharmaceuticals, Inc. •		385
	26	Auxilium Pharmaceuticals, Inc. •		594
	55	Bristol-Myers Squibb Co.		1,063
	94	Cephalon, Inc. •		6,156
	16	Daiichi Sankyo Co., Ltd.		270
	155	Elan Corp. plc ADR •		915
	48	Eli Lilly & Co.		1,571
	50	Genzyme Corp. •		2,688
	232	Impax Laboratories, Inc. •		1,227
	51	Johnson & Johnson		2,655
	10	Life Technologies Corp. •		372
	170	Merck & Co., Inc.		4,111
	53	Myriad Genetics, Inc. •		2,074
	142	Novavax, Inc. •		347
	9	PerkinElmer, Inc.		134
	649	Pfizer, Inc.		8,676
	36	Roche Holding AG		4,575
	280	Schering-Plough Corp.		6,441
	27	Sequenom, Inc. •		99
	27	Shionogi & Co., Ltd.		463
	261	Teva Pharmaceutical Industries Ltd. ADR		11,439
	225	Wyeth		9,538
				79,203
		Real Estate — 1.2%
	61	Annaly Capital Management, Inc.		854
	148	Brookfield Asset Management, Inc.		2,292
	753	Chimera Investment Corp.		2,657
	192	China Overseas Land & Investment Ltd.		334
	249	China Resources Land Ltd.		445
	27	E-House China Holdings, Ltd. •		335
	—	Eurocastle Investment Ltd.		—
	132	Kimco Realty Corp.		1,587
	18	Mack-Cali Realty Corp.		494
	9	Simon Property Group, Inc.		438
	46	Ventas, Inc.		1,329
	—	Vornado Realty Trust		20
				10,785
		Retailing — 5.1%
	179	Advance Automotive Parts, Inc.		7,814
	171	Aeropostale, Inc. •		5,824
	37	Best Buy Co., Inc.		1,407
	1,405	Buck Holdings L.P. ⌂•†		2,500
	40	Chico’s FAS, Inc. •		305
	15	Dollar Tree, Inc. •		633
	28	Family Dollar Stores, Inc.		915
	367	Gap, Inc.		5,702
	62	Home Depot, Inc.		1,637
	35	Hot Topic, Inc. •		425
	41	Industria de Diseno Textil S.A.		1,737
	16	JOS A. Bank Clothiers, Inc. •		649
	23	PetSmart, Inc.		520
	13	Ross Stores, Inc.		493
	649	Staples, Inc.		13,372
	13	The Buckle, Inc.		476
	20	Urban Outfitters, Inc. •		395
				44,804
		Semiconductors & Semiconductor Equipment — 1.2%
	63	Atheros Communications, Inc. •		1,078
	20	Broadcom Corp. Class A •		457
	14	Cavium Networks, Inc. •		171
	61	Lam Research Corp. •		1,695
	25	Maxim Integrated Products, Inc.		341
	79	ON Semiconductor Corp. •		428
	109	Texas Instruments, Inc.		1,967
	178	Varian Semiconductor Equipment Associates, Inc. •		4,548
				10,685
		Software & Services — 9.4%
	260	Accenture Ltd. Class A		7,655
	389	Activision Blizzard, Inc. •		4,189
	14	Adobe Systems, Inc. •		369
	37	AsiaInfo Holdings, Inc. •		611
	49	Automatic Data Processing, Inc.		1,728
	289	BMC Software, Inc. •		10,032
	28	CACI International, Inc. Class A •		1,119
	44	Check Point Software Technologies Ltd. ADR •		1,028
	16	Concur Technologies, Inc. •		428
	99	Equinix, Inc. •		6,945
	6	Google, Inc. •		2,455
	9	Mastercard, Inc.		1,719
	159	McAfee, Inc. •		5,974
	584	Microsoft Corp.		11,824
	30	Netease.com, Inc. •		894
	1	Nintendo Co., Ltd.		381
	18	Omniture, Inc. •		223
	333	Red Hat, Inc. •		5,758
	14	Shanda Interactive Entertainment Ltd. ADR •		660
	203	Solera Holdings, Inc. •		4,637
	120	Visa, Inc.		7,789
	402	Western Union Co.		6,739
				83,157
		Technology Hardware & Equipment — 7.8%
	140	3Com Corp. •		569
	3	Agilent Technologies, Inc. •		59
	56	Apple, Inc. •		7,028
	161	Arrow Electronics, Inc. •		3,670
	61	Avnet, Inc. •		1,331
	1,010	Cisco Systems, Inc. •		19,517
	330	Corning, Inc.		4,827
	554	Flextronics International Ltd. •		2,148
	14	FLIR Systems, Inc. •		310
	165	Hewlett-Packard Co.		5,922
	169	Hughes Telematics Inc. •		705
	20	International Business Machines Corp.		2,033
	6	Itron, Inc. •		289
	286	JDS Uniphase Corp. •		1,320
	41	Logitech International S.A. •		549
	16	NCR Corp. •		157
	40	NetApp, Inc. •		734
	23	Nice Systems Ltd. •		602
	195	Nokia Oyj		2,768

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

6

Shares or Principal Amount ╬			Market Value ╪
COMMON STOCKS — 97.0% — (continued)
		Technology Hardware & Equipment — 7.8% — (continued)
	31	Palm, Inc. •	$	326
	56	Qualcomm, Inc.		2,354
	119	Research In Motion Ltd. •		8,271
	145	Seagate Technology		1,187
	59	Solar Cayman Ltd. ⌂•†		478
	300	Xerox Corp.		1,831
				68,985
		Telecommunication Services — 2.1%
	248	AT&T, Inc. ‡		6,346
	575	MetroPCS Communications, Inc. •		9,820
	1,381	Vodafone Group plc		2,538
				18,704
		Transportation — 3.1%
	37	C.H. Robinson Worldwide, Inc.		1,956
	1,322	Delta Air Lines, Inc. •		8,159
	53	FedEx Corp.		2,972
	607	JetBlue Airways Corp. •		2,990
	57	Ryanair Holdings plc ADR •		1,554
	376	Singapore Airlines Ltd.		2,704
	103	United Parcel Service, Inc. Class B		5,373
	372	US Airways Group, Inc. •		1,408
				27,116
		Utilities — 1.5%
	59	Entergy Corp.		3,828
	51	Exelon Corp.		2,339
	20	FirstEnergy Corp.		830
	190	Northeast Utilities		3,992
	19	Southern Co.		560
	40	Wisconsin Energy Corp.		1,594
				13,143
		Total common stocks (cost $901,640)	$	853,092
PREFERRED STOCKS — 0.1%
		Technology Hardware & Equipment — 0.1%
	200	Hughes Telematics ⌂†	$	751
		Total preferred stocks (cost $2,000)	$	751
WARRANTS — 0.0%
		Pharmaceuticals, Biotechnology & Life Sciences 0.0%
	13	Novavax, Inc. ⌂•	$	—
		Total warrants (cost $-)	$	—
		Total long-term investments (cost $903,640)	$	853,843
SHORT-TERM INVESTMENTS — 2.3%
		Repurchase Agreements — 2.3%
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $4,819, collateralized by GNMA 4.50% — 6.50%, 2038 — 2039, value of $4,916)
$	4,819	0.18%, 04/30/2009	$	4,819
		BNP Paribas Securities Corp. TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $5,768, collateralized by FHLMC 4.50% — 6.50%, 2035 — 2039, FNMA 4.50% — 6.50%, 2034 - 2047, value of $5,883)
	5,768	0.17%, 04/30/2009		5,768
		Deutsche Bank Securities TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $8,059, collateralized by FHLMC 4.00% — 7.00%, 2021 — 2039, FNMA 6.00% — 7.00%, 2034 - 2038, GNMA 4.50% — 7.00%, 2024 — 2039, value of $8,220)
	8,059	0.17%, 04/30/2009		8,059
		UBS Securities, Inc. Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $27, collateralized by U.S. Treasury Bond 7.50%, 2024, value of $28)
	27	0.14%, 04/30/2009		27
		UBS Securities, Inc. TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $1,738, collateralized by FHLMC 8.00% — 15.00%, 2009 — 2021, FNMA 3.50% — 15.50%, 2012 — 2039, value of $1,773)
	1,738	0.16%, 04/30/2009		1,738
				20,411
		Total short-term investments (cost $20,411)	$	20,411

Total investments (cost $924,051)▲	99.4	%	$	874,254
Other assets and liabilities	0.6	%		5,243
Total net assets	100.0	%	$	879,497

Note:	Percentage of investments as shown is the ratio of the total market value to total net assets. Market value of investments in foreign securities represents 5.70% of total net assets at April 30, 2009.
	Foreign securities that are principally traded on certain foreign markets are adjusted daily pursuant to a third party pricing service methodology approved by the Board of Directors in order to reflect an adjustment for factors occurring after the close of the foreign market but before the close of the New York Stock Exchange.
▲	At April 30, 2009, the cost of securities for federal income tax purposes was $983,212 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	62,897
Unrealized Depreciation		(171,855	)
Net Unrealized Depreciation	$	(108,958	)

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

7

The Hartford Capital Appreciation II Fund
Schedule of Investments — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

†	The aggregate value of securities valued in good faith at fair value as determined under policies and procedures established by and under the supervision of the Fund’s Board of Directors at April 30, 2009, was $3,729, which represents 0.42% of total net assets. This calculation excludes securities that are principally traded in certain foreign markets and whose prices were adjusted pursuant to a third party pricing service methodology approved by the Board of Directors.
•	Currently non-income producing.
‡	This security, or a portion of this security, has been segregated to cover funding requirements on investment transactions settling in the future.
■	Securities issued within terms of a private placement memorandum, exempt from registration under Rule 144A under the Securities Act of 1933, as amended, and may be sold only to qualified institutional buyers. Pursuant to guidelines adopted by the Board of Directors, these issues are determined to be liquid. The aggregate value of these securities at April 30, 2009, was $2,295, which represents 0.26% of total net assets.
•	The cost of securities purchased on a when-issued or delayed delivery basis at April 30, 2009 was $359.
⌂	The following securities are considered illiquid. Illiquid securities are often purchased in private placement transactions, are often not registered under the Securities Act of 1933 and may have contractual restrictions on resale. A security may also be considered illiquid if the security lacks a readily available market or if its valuation has not changed for a certain period of time.

Period		Shares/
Acquired		Par		Security	Cost Basis
	06/2007		1,405	Buck Holdings L.P.	$	1,406
	09/2008 — 04/2009		42	Groupe Danone		2,760
	03/2009		200	Hughes Telematics — Reg D		2,000
	07/2008		13	Novavax, Inc. Warrants		—
	03/2007		59	Solar Cayman Ltd. — 144A		816

The aggregate value of these securities at April 30, 2009 was $5,742 which represents 0.65% of total net assets.

Forward Foreign Currency Contracts Outstanding at April 30, 2009

							Unrealized
	Market		Contract		Delivery		Appreciation/
Description	Value ╪		Amount		Date		(Depreciation)
British Pound (Buy)	$	50	$	50		05/05/09	$	—
British Pound (Sell)		33		33		05/06/09		—
Canadian Dollar (Sell)		285		283		05/04/09		(2	)
Canadian Dollar (Sell)		506		506		05/05/09		—
Euro (Sell)		64		64		05/04/09		—
Japanese Yen (Sell)		3,078		3,139		05/01/09		61
Japanese Yen (Buy)		353		361		05/01/09		(8	)
Japanese Yen (Buy)		359		361		05/08/09		(2	)
Norwegian Krone (Sell)		100		98		05/04/09		(2	)
Norwegian Krone (Sell)		271		272		05/05/09		1
Swiss Franc (Sell)		25		25		05/05/09		—
Swiss Franc (Sell)		41		41		05/06/09		—
Turkish New Lira (Sell)		414		415		05/05/09		1
							$	49

╪ See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of securities.

FAS 157 Disclosure of Investment Valuation Hierarchy Levels

Assets:
Investment in securities — Level 1	$	751,186
Investment in securities — Level 2		117,044
Investment in securities — Level 3		6,024
Total	$	874,254
Other financial instruments — Level 2 *		63
Total	$	63
Liabilities:
Other financial instruments — Level 2 *		14
Total	$	14

* Other financial instruments are derivative instruments not reflected in the Schedule of Investments, such as futures, forwards and swap contracts, which are valued at the unrealized appreciation/depreciation on the investment.

Following is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value:

Assets:
Securities:
Balance as of October 31, 2008	$	8,596
Change in unrealized depreciation ♦		(1,537	)
Net purchases		1,939
Transfers in and /or out of Level 3		(2,974	)
Balance as of April 30, 2009	$	6,024
♦     Change in unrealized gains or losses relating to assets still held at April 30, 2009	$	(1,537	)

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

8

The Hartford Capital Appreciation II Fund

Statement of Assets and Liabilities
April 30, 2009 (Unaudited)
(000’s Omitted)

Assets:
Investments in securities, at fair value (cost $924,051)	$	874,254
Cash		87
Foreign currency on deposit with custodian (cost $156)		156
Unrealized appreciation on forward foreign currency contracts		63
Receivables:
Investment securities sold		24,855
Fund shares sold		1,424
Dividends and interest		1,308
Other assets		158
Total assets		902,305
Liabilities:
Unrealized depreciation on forward foreign currency contracts		14
Payables:
Investment securities purchased		19,599
Fund shares redeemed		2,568
Investment management fees		134
Distribution fees		70
Accrued expenses		423
Total liabilities		22,808
Net assets	$	879,497
Summary of Net Assets:
Capital stock and paid-in-capital		1,459,474
Accumulated undistributed net investment income		707
Accumulated net realized loss on investments and foreign currency transactions		(530,875	)
Unrealized depreciation of investments and the translation of assets and liabilities denominated in foreign currency		(49,809	)
Net assets	$	879,497
Shares authorized		1,000,000
Par value	$	0.001
Class A: Net asset value per share/Maximum offering price per share	$	8.79/$9.30
Shares outstanding		50,214
Net assets	$	441,602
Class B: Net asset value per share	$	8.51
Shares outstanding		7,305
Net assets	$	62,161
Class C: Net asset value per share	$	8.53
Shares outstanding		30,262
Net assets	$	258,286
Class I: Net asset value per share	$	8.88
Shares outstanding		6,757
Net assets	$	59,992
Class R3: Net asset value per share	$	8.78
Shares outstanding		668
Net assets	$	5,868
Class R4: Net asset value per share	$	8.86
Shares outstanding		399
Net assets	$	3,535
Class R5: Net asset value per share	$	8.91
Shares outstanding		51
Net assets	$	452
Class Y: Net asset value per share	$	8.95
Shares outstanding		5,319
Net assets	$	47,601

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

9

The Hartford Capital Appreciation II Fund

Statement of Operations
For the Six Month Period Ended April 30, 2009 (Unaudited)
(000’s Omitted)

Investment Income:
Dividends	$	7,898
Interest		37
Securities lending		26
Less: Foreign tax withheld		(271	)
Total investment income		7,690
Expenses:
Investment management fees		3,883
Transfer agent fees		1,161
Distribution fees
Class A		526
Class B		291
Class C		1,211
Class R3		12
Class R4		3
Custodian fees		34
Accounting services		57
Registration and filing fees		92
Board of Directors’ fees		12
Audit fees		17
Other expenses		217
Total expenses (before waivers and fees paid indirectly)		7,516
Expense waivers		(62	)
Transfer agent fee waivers		(62	)
Commission recapture		(48	)
Custodian fee offset		—
Total waivers and fees paid indirectly		(172	)
Total expenses, net		7,344
Net investment income		346
Net Realized Loss on Investments and Foreign Currency Transactions:
Net realized loss on investments in securities		(302,487	)
Net realized loss on foreign currency transactions		(320	)
Net Realized Loss on Investments and Foreign Currency Transactions		(302,807	)
Net Changes in Unrealized Appreciation of Investments and Foreign Currency Transactions:
Net unrealized appreciation of investments		299,095
Net unrealized appreciation on translation of other assets and liabilities in foreign currencies		344
Net Changes in Unrealized Appreciation of Investments and Foreign Currency Transactions		299,439
Net Loss on Investments and Foreign Currency Transactions		(3,368	)
Net Decrease in Net Assets Resulting from Operations	$	(3,022	)

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

10

The Hartford Capital Appreciation II Fund

Statement of Changes in Net Assets

(000’s Omitted)

	For the Six-Month
	Period Ended			For the
	April 30, 2009			Year Ended
	(Unaudited)			October 31, 2008
Operations:
Net investment income (loss)	$	346		$	(1,777	)
Net realized loss on investments and foreign currency transactions		(302,807	)		(222,258	)
Net unrealized appreciation (depreciation) of investments and foreign currency transactions		299,439			(513,984	)
Net decrease in net assets resulting from operations		(3,022	)		(738,019	)
Distributions to Shareholders:
From net realized gain on investments
Class A		—			(57,297	)
Class B		—			(7,516	)
Class C		—			(29,944	)
Class I		—			(6,005	)
Class R3		—			(33	)
Class R4		—			(1	)
Class R5		—			(12	)
Class Y		—			(11	)
Total distributions		—			(100,819	)
Capital Share Transactions:
Class A		(35,518	)		118,490
Class B		(3,500	)		21,834
Class C		(9,576	)		101,804
Class I		(17,022	)		56,898
Class R3		1,596			5,886
Class R4		2,276			1,828
Class R5		221			129
Class Y		21,734			27,587
Net increase (decrease) from capital share transactions		(39,789	)		334,456
Net decrease in net assets		(42,811	)		(504,382	)
Net Assets:
Beginning of period		922,308			1,426,690
End of period	$	879,497		$	922,308
Accumulated undistributed net investment income (loss)	$	707		$	361

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

11

The Hartford Capital Appreciation II Fund

Notes to Financial Statements
April 30, 2009 (Unaudited)
(000’s Omitted)

1.	Organization:
	The Hartford Mutual Funds, Inc. (“Company”) is an open-end management investment company comprised of fifty-two portfolios. Financial statements for The Hartford Capital Appreciation II Fund (the “Fund”), a series of the Company, are included in this report.
	The Company is organized under the laws of the State of Maryland and is registered with the Securities and Exchange Commission (“SEC”) under the Investment Company Act of 1940, as amended (“1940 Act”). The Fund is a diversified open-end management investment company.
	Class A shares are sold with a front-end sales charge of up to 5.50% Class B shares are sold with a contingent deferred sales charge which is assessed on the lesser of the per share net asset value (“NAV”) of the shares at the time of redemption or the original purchase price, and declines from up to 5.00% to zero depending on the period of time the shares are held. Class C shares are sold with a contingent deferred sales charge of up to 1.00% on shares redeemed within twelve months of purchase. Class I shares are sold without sales charges to certain eligible investors through advisory fee-based wrap programs. Classes R3, R4, R5 shares, which are offered to employer-sponsored retirement plans, and Class Y shares, which are sold to certain eligible institutional investors, are sold without a sales charge. All classes of shares have identical voting, redemption, dividend, liquidation and other rights and the same terms and conditions, with the exceptions that each class may have different expenses, which may affect performance, and except that Class B shares automatically convert to Class A shares after 8 years.
	Effective at the close of business on September 30, 2009 (the “Close Date”), no new or additional investments will be allowed in Class B shares of The Hartford Mutual Funds (including investments through any systematic investment plan). After the Close Date, existing shareholders of Class B shares may continue to hold their Class B shares, exchange their Class B shares for Class B shares of another Hartford Mutual Fund (as permitted by existing exchange privileges), and redeem their Class B shares as described in the Fund’s prospectus. Reinstatement privileges with respect to Class B shares will continue under the current policy. If you have chosen to reinvest capital gains and dividends, any such capital gains or dividends on Class B shares will continue to be reinvested in Class B shares of the Fund. For Class B shares outstanding as of the Close Date, all Class B share attributes, including the 12b-1 fee, contingent deferred sales charge schedule, and conversion to Class A shares remain unchanged.
2.	Significant Accounting Policies:
	The following is a summary of significant accounting policies of the Fund, which are in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”).

a)	Security Transactions and Investment Income — Security transactions are recorded on the trade date (the date the order to buy or sell is executed). Security gains and losses are determined on the basis of identified cost.
	Dividend income is accrued as of the ex-dividend date, except that certain dividends for foreign securities where the ex-dividend date may have passed are recorded as soon as the Fund is informed of the dividend in the exercise of reasonable diligence. Interest income, including amortization of premium and accretion of discounts, is accrued on a daily basis.
b)	Security Valuation — The Fund generally uses market prices in valuing portfolio securities. If market prices are not readily available or are deemed unreliable, the Fund will use the fair value of the security as determined in good faith under policies and procedures established by and under the supervision of the Fund’s Board of Directors. Market prices may be deemed unreliable, for example, if a security is thinly traded or if an event has occurred after the close of the security’s primary markets, but before the close of the New York Stock Exchange (the “Exchange”) (normally 4:00 p.m. Eastern Time, referred to as the “Valuation Time”) that is expected to affect the value of the portfolio security. The circumstances in which the Fund may use fair value pricing include, among others: (i) the occurrence of events that are significant to a particular issuer, such as mergers, restructuring or defaults; (ii) the occurrence of events that are

12

	significant to an entire market, such as natural disasters in a particular region or governmental actions; (iii) trading restrictions on securities; (iv) thinly traded securities and (v) market events such as trading halts and early market closings. In addition, with respect to the valuation of stocks primarily traded on foreign markets, the Fund uses a fair value pricing service approved by the Fund’s Board of Directors, which employs quantitative models that evaluate changes in the value of foreign market proxies (e.g., futures contracts, ADR’s, exchange traded funds (“ETF’s”)) after the close of the foreign markets but before the close of the Exchange. Securities that are primarily traded on foreign markets may trade on days that are not business days of the Fund. The value of the foreign securities in which the Fund invests may change on days when a shareholder will not be able to purchase or redeem shares of the Fund. Fair value pricing is subjective in nature and the use of fair value pricing by the Fund may cause the NAV of its shares to differ significantly from the NAV that would have been calculated using market prices at the close of the exchange on which a portfolio security is primarily traded but before the close of the Exchange. There can be no assurance that the Fund could obtain the fair value assigned to a security if the Fund were to sell the security at approximately the time at which the Fund determines its NAV.
	Exchange traded equity securities shall be valued at the last reported sale price on the exchange or market on which the security is primarily traded (the “Primary Market”) at the Valuation Time. If the security did not trade on the Primary Market, it may be valued at the Valuation Time at the last reported sale price on another exchange where it trades. The value of an equity security not traded on any exchange but traded on the Nasdaq Stock Market, Inc. (“Nasdaq”) or another over-the-counter market shall be valued at the last reported sale price or official closing price on the exchange or market on which the security is traded as of the Valuation Time. If it is not possible to determine the last reported sale price or official closing price on the relevant exchange or market at the Valuation Time, the value of the security shall be taken to be the most recent mean between bid and asked prices on such exchange or market at the Valuation Time.
	Securities of foreign issuers and non-dollar securities are translated from the local currency into U.S. dollars using prevailing exchange rates.
	Financial instruments for which prices are not available from an independent pricing service are valued using market quotations obtained from one or more dealers that make markets in securities in accordance with procedures established by the Fund’s Board of Directors.
	A forward currency contract shall be valued based on the price of the underlying currency at the prevailing interpolated exchange rate, which is a combination of the spot currency rate and the forward currency rate. Spot currency rates and forward currency rates are obtained from an independent pricing service on a daily basis not more than one hour before the Valuation Time.
	Other derivative or contractual type instruments shall be valued using market prices if such instruments trade on an exchange or market. If such instruments do not trade on an exchange or market, such instruments shall be valued at a price at which the counterparty to such contract would repurchase the instrument. In the event that the counterparty cannot provide a price, such valuation may be determined in accordance with procedures established by the Fund’s Board of Directors.
c)	Foreign Currency Transactions — The accounting records of the Fund are maintained in U.S. dollars. All assets and liabilities initially expressed in foreign currencies are converted into U.S. dollars at the prevailing exchange rates. Purchases and sales of investment securities, dividend and interest income and certain expenses are translated at the rates of exchange prevailing on the respective dates of such transactions.
	The Fund does not isolate that portion of portfolio security valuation resulting from fluctuations in the foreign currency exchange rates on portfolio securities from the fluctuations arising from changes in the market prices of securities held. Such fluctuations are included with the net realized and unrealized gain or loss on investments in the accompanying financial statements.

13

The Hartford Capital Appreciation II Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

	Net realized foreign exchange gains or losses arise from sales of foreign currencies and the difference between asset and liability amounts initially stated in foreign currencies and the U.S. dollar value of the amounts actually received or paid. Net unrealized foreign exchange gains or losses arise from changes in the value of other assets and liabilities at the end of the reporting period, resulting from changes in the exchange rates.
d)	Securities Lending — The Fund may lend its securities to certain qualified brokers who pay the Fund negotiated lender fees. The loans are fully collateralized at all times with cash and/or U.S. Government Securities and/or repurchase agreements. The cash collateral is then invested in short-term money market instruments. The repurchase agreements are fully collateralized by U.S. Government Securities. The adequacy of the collateral for securities on loan is monitored on a daily basis. For instances where the market value of collateral falls below the market value of the securities out on loan, such collateral is supplemented on the following business day.
	While securities are on loan, the Fund is subject to the following risks: 1) that the borrower may default on the loan and that the collateral could be inadequate in the event the borrower defaults, 2) that the earnings on the collateral invested may not be sufficient to pay fees incurred in connection with the loan, 3) that the principal value of the collateral invested may decline and may not be sufficient to pay back the borrower for the amount of the collateral posted, 4) that the borrower may use the loaned securities to cover a short sale which may place downward pressure on the market prices of the loaned securities, 5) that return of loaned securities could be delayed and could interfere with portfolio management decisions and 6) that any efforts to recall the securities for purposes of voting a proxy may not be effective. The Fund had no securities out on loan as of April 30, 2009.
e)	Joint Trading Account — Pursuant to an exemptive order issued by the SEC, the Fund may transfer uninvested cash balances into a joint trading account managed by Wellington Management Company, LLP (“Wellington”). These balances may be invested in one or more repurchase agreements and/or short-term money market instruments.
f)	Repurchase Agreements — A repurchase agreement is an agreement by which the seller of a security agrees to repurchase the security sold at a mutually agreed upon time and price. At the time the Fund enters into a repurchase agreement, the value of the underlying collateral security(ies), including accrued interest, will be equal to or exceed the value of the repurchase agreement. Securities that serve to collateralize the repurchase agreement are held by the Fund’s custodian in book entry or physical form in the custodial account of the Fund or in a third party custodial account. Repurchase agreements are valued at cost plus accrued interest. The Fund, as shown on the Schedule of Investments, had outstanding repurchase agreements as of April 30, 2009.
g)	Forward Foreign Currency Contracts — The Fund may enter into forward foreign currency contracts that obligate the Fund to repurchase/replace or sell currencies at specified future dates. Forward foreign currency contracts may be used to hedge against adverse fluctuations in exchange rates between currencies.
	Forward foreign currency contracts involve elements of market risk in excess of the amount reflected in the Statement of Assets and Liabilities. In addition, risks may arise upon entering into these contracts from the potential inability of the counterparties to meet the terms of the contracts and from unanticipated movements in the value of the foreign currencies relative to the U.S. dollar.
h)	Indexed Securities — The Fund may invest in indexed securities whose values are linked to changes in interest rates, indices, or other underlying instruments. The Fund uses these securities to increase or decrease its exposure to different underlying instruments and to gain exposure to markets that might be difficult to invest in using conventional securities. Indexed securities may be more volatile than their underlying instruments, but any loss is limited to the amount of the original investment and there may be a limit to the potential appreciation of the investment. The Fund had no investments in indexed securities as of April 30, 2009.
i)	Fund Share Valuation and Dividend Distributions to Shareholders — Orders for the Fund’s shares are executed in accordance with the investment instructions of the shareholders. The NAV of the Fund’s shares is determined as of the

14

	close of each business day of the Exchange. The NAV is determined separately for each class of the Fund by dividing the Fund’s net assets attributable to that class by the number of shares of the class outstanding. Orders for the purchase of the Fund’s shares prior to the close of the Exchange on any day on which the Exchange is open for business are priced at the NAV determined as of the close of the Exchange. Orders after the close of the Exchange, or on a day on which the Exchange and/or the Fund is not open for business, are priced at the next determined NAV.
	The Fund intends to distribute substantially all of its net investment income and net realized capital gains to shareholders no less frequently than once a year. Normally, dividends from net investment income are declared and paid annually. Dividends are paid on shares beginning on the business day after the day when the funds used to purchase the shares are collected by the transfer agent for the Fund. Unless shareholders specify otherwise, all dividends will be automatically reinvested in additional full or fractional shares of the Fund.
	Distributions from net investment income, realized capital gains and capital are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP with respect to character and timing. These differences include but are not limited to foreign currency gains and losses, losses deferred due to wash sales adjustments, adjustments related to Passive Foreign Investment Companies and certain derivatives, and excise tax regulations. Permanent book and federal income tax basis differences relating to shareholder distributions will result in reclassifications to certain of the Fund’s capital accounts (see Federal Income Taxes: Reclassification of Capital Accounts footnote).
j)	Illiquid and Restricted Securities — The Fund is permitted to invest up to 15% of its net assets in illiquid securities. “Illiquid Securities” are those that may not be sold or disposed of in the ordinary course of business within seven days, at approximately the price used to determine the Fund’s NAV. The Fund may not be able to sell illiquid securities or other investments when its sub-adviser considers it desirable to do so or may have to sell such securities or investments at a price that is lower than the price that could be obtained if the securities or investments were more liquid. A sale of illiquid securities or other investments may require more time and may result in higher dealer discounts and other selling expenses than does the sale of those that are liquid. Illiquid securities and investments also may be more difficult to value, due to the unavailability of reliable market quotations for such securities or investments, and investment in them may have an adverse impact on the Fund’s NAV. The Fund may also purchase certain restricted securities, commonly known as Rule 144A securities, that can be resold to institutions and which may be determined to be liquid pursuant to policies and guidelines established by the Fund’s Board of Directors. The Fund, as shown in the Schedule of Investments, had illiquid or restricted securities as of April 30, 2009.
k)	Securities Purchased on a When-Issued or Delayed-Delivery Basis — Delivery and payment for securities that have been purchased by the Fund on a forward commitment, or when-issued or delayed-delivery basis take place beyond the customary settlement period. During this period, such securities are subject to market fluctuations, and the Fund identifies securities segregated in its records with value at least equal to the amount of the commitment. As of April 30, 2009, the Fund had entered into outstanding when-issued or forward commitments with a cost of $359.
l)	Use of Estimates — The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and the reported amounts of income and expenses during the period. Operating results in the future could vary from the amounts derived from management’s estimates.
m)	Financial Accounting Standards Board Financial Accounting Standards No. 157 — Effective November 1, 2008, the Fund adopted Financial Accounting Standards Board (“FASB”) Statement of Financial Accounting Standards No. 157, “Fair Value Measurements” (“FAS 157”). This standard clarifies the definition of fair value for financial reporting, establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements. Fair value is defined under FAS 157 as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Under FAS 157, a fair value measurement should reflect all of the assumptions that market participants would use in pricing the asset or liability, including assumptions

15

The Hartford Capital Appreciation II Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

about the risk inherent in a particular valuation technique, the effect of a restriction on the sale or use of an asset, and the risk of nonperformance.

Various inputs are used in determining the value of the Fund’s investment. These inputs are summarized, per FAS 157, into three broad hierarchy levels. This hierarchy is based on whether the valuation inputs are observable or unobservable. These levels are:

• Level 1 — Quoted prices in active markets for identical securities. Level 1 includes exchange-traded instruments such as domestic equities, some foreign equities, options, futures, mutual funds, ETF’s, and rights and warrants.

• Level 2 — Observable inputs other than Level 1 prices, such as quoted prices for similar securities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the security. Level 2 includes debt securities that are traded less frequently than exchange-traded instruments and that are valued using third party pricing services and foreign equities, whose value is determined using a multi-factor regression model with inputs that are observable in the market; and money market instruments, which are carried at amortized cost.

• Level 3 — Significant unobservable inputs that are supported by little or no market activity. Level 3 includes financial instruments whose values are determined using broker quotes and require significant management judgment or estimation. This category includes broker quoted securities, long dated OTC options and securities where trading has been halted or there are certain restrictions on trading. While these securities are priced using unobservable inputs, the valuation of these securities reflects the best available data and management believes the prices are a good representation of exit price.

	Individual securities within any of the above mentioned asset classes may be assigned a different hierarchical level than those presented above, as individual circumstances dictate.
	FAS 157 also requires that a roll forward reconciliation be shown for all Level 3 securities from the beginning of the reporting period to the end of the reporting period. Part of this reconciliation includes transfers in and/or out of Level 3. For purposes of this reconciliation, transfers in are shown at the end of period fair value and transfers out are shown at the beginning of period fair value.
	Refer to the valuation hierarchy levels summary and the Level 3 roll forward reconciliation found following the Schedule of Investments.
	FASB Staff Position No. 157-4 — In April 2009, FASB released FASB Staff Position No. 157-4, “Determining Fair Value When the Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly” (“FSP FAS 157-4”). FSP FAS 157-4 provides additional guidance on determining whether a market for a financial asset is not active and a transaction is not distressed when measuring fair value under FAS 157. The FSP also requires additional disclosure detail on debt and equity securities by major investment categories. FSP FAS 157-4 is effective for interim and annual periods ending after June 15, 2009. At this time, management is evaluating the implications of FSP FAS 157-4 and does not believe it will impact valuation but will require additional disclosure. This additional disclosure has not yet been implemented.
n)	Financial Accounting Standards Board Financial Accounting Standards No. 161 — In March 2008, the FASB released Statement of Financial Accounting Standards No. 161, “Disclosures about Derivative Instruments and Hedging Activities” (“FAS 161”). FAS 161 requires companies to disclose information detailing the objectives and strategies for using derivative instruments, the level of derivative activity entered into by the company and any credit risk-related contingent features of the agreements. The application of FAS 161 is required for fiscal years and interim periods beginning after November 15, 2008. At this time, management is evaluating the implications of FAS 161 and has not yet implemented the new disclosure standard.

16

o) Indemnifications: Under the Company’s organizational documents, the Company shall indemnify its officers and directors to the full extent required or permitted under Maryland General Corporation Law and the federal securities law. In addition, the Company, on behalf of the Fund, may enter into contracts that contain a variety of indemnifications. The Company’s maximum exposure under these arrangements is unknown. However, the Company has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote.

3. Federal Income Taxes:

a)

Federal Income Taxes — For federal income tax purposes, the Fund intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code (“IRC”) by distributing substantially all of its taxable net investment income and net realized capital gains to its shareholders and otherwise complying with the requirements of regulated investment companies. The Fund has distributed substantially all of its income and capital gains in prior years and the Fund intends to distribute substantially all of its income and gains during the calendar year ending December 31, 2009. Accordingly, no provision for federal income or excise taxes has been made in the accompanying financial statements. Distributions from short-term capital gains are treated as ordinary income distributions for federal income tax purposes.

b)

The tax character of distributions paid by the Fund for the periods indicated is as follows (as adjusted for dividends payable):

	For the Year Ended		For the Year Ended
	October 31, 2008		October 31, 2007
Ordinary Income	$	75,863	$	7,427
Long-Term Capital Gains *		24,956		1,610

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

As of October 31, 2008, the Fund’s components of distributable earnings (deficit) on a tax basis were as follows:

	Amount
Accumulated Capital Losses*	$	(168,861	)
Unrealized Depreciation †	$	(408,094	)
Total Accumulated Deficit	$	(576,955	)

*	The Fund has capital loss carryforwards that are identified in the Capital Loss Carryforward note that follows.
†	The differences between book-basis and tax-basis unrealized appreciation (depreciation) are attributable to the tax deferral of wash sales losses, the mark-to-market adjustment for certain derivatives in accordance with IRC Sec. 1256, the mark to market for Passive Foreign Investment Companies and basis differences in real estate investment trusts.

c) Reclassification of Capital Accounts — In accordance with American Institute of Certified Public Accountants (AICPA) Statement of Position 93-2, Determination, Disclosure, and Financial Statement Presentation of Income, Capital Gain, and Return of Capital Distributions by Investment Companies, the Fund has recorded reclassifications in its capital accounts. These reclassifications had no impact on the NAV of the Fund. The reclassifications are a result of permanent differences between GAAP and tax accounting for such items as net operating losses that reduce distribution requirements. Adjustments are made to reflect the impact these items have on current and future distributions to shareholders. Therefore, the source of the Fund’s distributions may be shown in the accompanying Statement of Changes in Net Assets as from net investment income, from net realized gains on investments or from capital depending on the type of book and tax differences that exist. As of October 31, 2008, the Fund recorded reclassifications to increase undistributed net investment income by $2,826, decrease accumulated net realized loss by $1,937, and decrease paid in capital by $889.

17

The Hartford Capital Appreciation II Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

d) Capital Loss Carryforward — At October 31, 2008 (tax-year-end), the Fund had capital loss carryforwards for U.S. federal income tax purposes of approximately:

Year	Amount
2016	$	168,861
Total	$	168,861

e) Financial Accounting Standards Board Interpretation No. 48 — On July 13, 2006, the FASB released FASB Interpretation No. 48 “Accounting for Uncertainty in Income Taxes” (“FIN 48”). FIN 48 provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. The Fund adopted FIN 48 for fiscal years beginning after December 15, 2006. Management has evaluated the implications of FIN 48 for all open tax years (tax years ended October 31, 2006 — 2008) and has determined there is no impact to the Fund’s financial statements.

4. Expenses:

a)

Investment Management Agreements — Hartford Investment Financial Services, LLC (“HIFSCO”) serves as investment manager to the Fund pursuant to an Investment Management Agreement with The Hartford Mutual Funds, Inc. As investment manager, HIFSCO has overall investment supervisory responsibility for the Fund. In addition, HIFSCO provides administrative personnel, services, equipment, facilities and office space for proper operation of the Fund. HIFSCO has contracted with Wellington for the provision of day-to-day investment management services to the Fund in accordance with the Fund’s investment objective and policies. The Fund pays a fee to HIFSCO, a portion of which may be used to compensate Wellington.

The schedule below reflects the rates of compensation paid to HIFSCO for investment advisory services rendered during the six-month period ended April 30, 2009; the rates are accrued daily and paid monthly:

Average Daily Net Assets	Annual Fee
On first $250 million		1.0000	%
On next $250 million		0.9500	%
On next $500 million		0.9000	%
On next $4 billion		0.8500	%
On next $5 billion		0.8475	%
Over $10 billion		0.8450	%

b) Accounting Services Agreement — Pursuant to the Fund Accounting Agreement between Hartford Life Insurance Company (“HLIC”) and the Fund, HLIC provides accounting services to the Fund and receives monthly compensation on the Fund’s average net assets. The Fund’s accounting service fees are accrued daily and paid monthly.

Average Daily Net Assets	Annual Fee
On first $5 billion		0.014	%
On next $5 billion		0.012	%
Over $10 billion		0.010	%

18

c) Operating Expenses — Allocable expenses incurred by the Company are allocated to each Fund and allocated to classes within the Fund in proportion to the average daily net assets of the Fund and each class, except where allocation of certain expenses is more fairly made directly to the Fund or to specific classes within a Fund. During the six-month period ended April 30, 2009, HIFSCO has contractually limited the total operating expenses of this Fund, exclusive of taxes, interest expense, brokerage commissions, certain distribution expenses and extraordinary expenses as follows:

Class A	Class B	Class C	Class I	Class R3	Class R4	Class R5	Class Y
1.60%	2.35%	2.35%	1.35%	1.85%	1.55%	1.25%	1.25%

d)

Fees Paid Indirectly — The Fund has entered into agreements with State Street Global Markets, LLC and Russell Implementation Services Inc. to partially recapture non-discounted trade commissions. Such rebates are used to pay a portion of the Fund’s expenses. In addition, the Fund’s custodian bank has also agreed to reduce its fees when the Fund maintains cash on deposit in the non-interest-bearing custody account. For the six-month period ended April 30, 2009, these amounts are included in the Statement of Operations.

The ratio of expenses to average net assets in the accompanying financial highlights excludes the reduction in expenses related to fees paid indirectly. Had the fees paid indirectly been included, the annualized expense ratio for the periods listed below would have been as follows:

	Annualized
	Six-Month
	Period			Year Ended			Year Ended			Year Ended			Year Ended
	Ended April			October 31,			October 31,			October 31,			October 31,
	30, 2009			2008			2007			2006			2005
Class A Shares		1.59	%		1.40	%		1.43	%		1.59	%		1.60	%*
Class B Shares		2.16			2.27			2.29			2.34			2.35	†
Class C Shares		2.31			2.14			2.16			2.32			2.35	‡
Class I Shares		1.19			1.08			1.10			0.80	§
Class R3 Shares		1.84			1.76			1.86	**
Class R4 Shares		1.47			1.42			1.47	††
Class R5 Shares		1.21			1.15			1.22	‡‡
Class Y Shares		1.05			1.00			1.01			1.13			1.15	§§

*	From April 29, 2005 (commencement of operations), through October 31, 2005
†	From April 29, 2005 (commencement of operations), through October 31, 2005
‡	From April 29, 2005 (commencement of operations), through October 31, 2005
§	From August 31, 2006 (commencement of operations), through October 31, 2006
**	From December 22, 2006 (commencement of operations), through October 31, 2007
††	From December 22, 2006 (commencement of operations), through October 31, 2007
‡‡	From December 22, 2006 (commencement of operations), through October 31, 2007
§§	From April 29, 2005 (commencement of operations), through October 31, 2005

e)

Distribution and Service Plan for Class A, B, C, R3 and R4 Shares — HIFSCO is the principal underwriter and distributor of the Fund. HIFSCO is engaged in distribution activities, which include marketing and distribution of shares through broker-dealers, financing distribution costs and maintaining financial books and records. For the six-month period ended April 30, 2009, HIFSCO received front-end load sales charges of $732 and contingent deferred sales charges of $214 from the Fund.

The Fund has adopted Distribution and Service Plans in accordance with Rule 12b-1 of the Investment Company Act of 1940, as amended, to compensate the distributor (HIFSCO) for activities intended to result in the sale and distribution of Classes A, B, C, R3 and R4 shares and for providing services for shareholders. The Rule 12b-1 plan applicable to Class A shares of the Funds provides for payment of a Rule 12b-1 fee of up to 0.35% of average daily net assets; however, the

19

The Hartford Capital Appreciation II Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

	Board of Directors has currently authorized 12b-1 payments of only up to 0.25%. Some or all of the fee may be used for shareholder servicing expenses with the remainder used for distribution expenses. Some or the entire Rule 12b-1 fee for Class B shares may be remitted to broker-dealers for distribution and/or shareholder account services. Under the Class B Plan, the Fund pays the distributor 1.00% of the average daily net assets of Class B shares that are outstanding for 8 years or less, 0.25% of which is a fee for services provided to existing shareholders with the remainder used for distribution expenses. After eight years, Class B shares convert to Class A shares. Upon conversion to Class A shares, the Class A plan described above will apply to those shares. Under the Class C Plan, the Fund pays the distributor 1.00% of the average daily net assets of Class C shares outstanding, 0.25% of which is intended as a fee for services provided to existing shareholders with the remainder used for distribution expenses. For Class C shares, some or the entire fee may be remitted to broker-dealers for distribution and/or shareholder account services. Class R3 shares have a distribution fee of 0.50% and Class R4 shares have a distribution fee of 0.25%. For Classes R3 and R4 shares, some or the entire fee may be remitted to broker dealers for distribution and/or shareholder account services. The Fund’s 12b-1 fees are accrued daily and paid monthly.
	For the six-month period ended April 30, 2009, total sales commissions paid to affiliated brokers/dealers of The Hartford for distributing the Fund’s shares were $56. These commissions are in turn paid to sales representatives of the broker/dealers.
f)	Other Related Party Transactions — Certain officers of the Fund are directors and/or officers of HIFSCO and/or The Hartford or its subsidiaries. For the six-month period ended April 30, 2009, a portion of the Fund’s chief compliance officer’s salary was paid by the Fund in the amount of $2. Hartford Administrative Services Company (“HASCO”), an indirect wholly owned subsidiary of The Hartford, provides transfer agent services to the Fund. HASCO was compensated $1,131 for providing such services. These fees are accrued daily and paid monthly.

5.	Investment Transactions:
	For the six-month period ended April 30, 2009, the Fund’s aggregate purchases and sales of investment securities (excluding short-term investments) were as follows:

	Amount
Cost of Purchases Excluding U.S. Government Obligations	$	712,223
Sales Proceeds Excluding U.S. Government Obligations		742,343

20

6.	Capital Share Transactions:
	The following information is for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	For the Six-Month Period Ended April 30, 2009												For the Year Ended October 31, 2008
			Shares					Shares							Shares					Shares
			Issued for					Issued		Net Increase					Issued for					Issued		Net Increase
	Shares		Reinvested		Shares			from		(Decrease) of			Shares		Reinvested		Shares			from		(Decrease) of
	Sold		Dividends		Redeemed			Merger		Shares			Sold		Dividends		Redeemed			Merger		Shares
Class A
Shares		9,520		—		(14,251	)		—		(4,731	)		26,758		3,361		(23,631	)		—		6,488
Amount	$	76,101	$	—	$	(111,619	)	$	—	$	(35,518	)	$	358,379	$	49,988	$	(289,877	)	$	—	$	118,490
Class B
Shares		737		—		(1,228	)		—		(491	)		2,420		475		(1,411	)		—		1,484
Amount	$	5,726	$	—	$	(9,226	)	$	—	$	(3,500	)	$	31,700	$	6,911	$	(16,777	)	$	—	$	21,834
Class C
Shares		5,556		—		(7,001	)		—		(1,445	)		12,925		1,739		(7,915	)		—		6,749
Amount	$	43,538	$	10	$	(53,124	)	$	—	$	(9,576	)	$	169,290	$	25,354	$	(92,840	)	$	—	$	101,804
Class I
Shares		2,992		—		(5,263	)		—		(2,271	)		8,574		326		(4,802	)		—		4,098
Amount	$	24,370	$	—	$	(41,392	)	$	—	$	(17,022	)	$	110,685	$	4,865	$	(58,652	)	$	—	$	56,898
Class R3
Shares		307		—		(114	)		—		193			517		2		(71	)		—		448
Amount	$	2,476	$	—	$	(880	)	$	—	$	1,596		$	6,719	$	33	$	(866	)	$	—	$	5,886
Class R4
Shares		367		—		(108	)		—		259			157		—		(18	)		—		139
Amount	$	3,092	$	—	$	(816	)	$	—	$	2,276		$	2,027	$	1	$	(200	)	$	—	$	1,828
Class R5
Shares		45		—		(11	)		—		34			12		1		(4	)		—		9
Amount	$	311	$	—	$	(90	)	$	—	$	221		$	169	$	12	$	(52	)	$	—	$	129
Class Y
Shares		2,870		—		(14	)		—		2,856			3,157		1		(704	)		—		2,454
Amount	$	21,856	$	—	$	(122	)	$	—	$	21,734		$	34,322	$	11	$	(6,746	)	$	—	$	27,587

The following reflects the conversion of Class B Shares into Class A Shares (reflected as Class A Shares issued and Class B shares redeemed) for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	Shares		Dollars
For the Six-Month Period Ended April 30, 2009		41	$	323
For the Year Ended October 31, 2008		83	$	1,097

7.	Line of Credit:
	The Fund is one of several Hartford Funds that participate in a $500 million committed revolving line of credit facility. The facility is to be used for temporary or emergency purposes. Under the arrangement, the Fund is required to own securities having a market value in excess of 300% of the total bank borrowings. The interest rate on borrowings varies depending on the nature of the loan. The facility also requires a fee to be paid based on the amount of the commitment. During the six-month period ended April 30, 2009, the Fund did not have any borrowings under this facility.
8.	Industry Classifications:
	Other than the industry classifications “Other Investment Pools and Funds” and “Exchange Traded Funds”, equity industry classifications used in this report are the Global Industry Classification Standard, which was developed by and is the exclusive property and service mark of MSCI, Inc. and Standard & Poor’s.

21

The Hartford Capital Appreciation II Fund

Financial Highlights — (Unaudited)

	- Selected Per-Share Data - (a)																												- Ratios and Supplemental Data -
																																			Ratio of			Ratio of			Ratio of
																																			Expenses			Expenses			Expenses
																																			to Average			to Average			to Average
																																			Net Assets			Net Assets			Net Assets
								Net																											Before			After			After
								Realized																											Waivers			Waivers			Waivers
								and Un-																											and			and			and			Ratio of
								realized								Distrib-								Net											Reimburse-			Reimburse-			Reimburse-			Net
			Net			Pay-		Gain						Dividends		utions								Increase			Net								ments and			ments and			ments and			Invest-			Port-
	Net Asset		Invest-			ments		(Loss)						from Net		from			Distri-					(Decrease)			Asset					Net Assets			Including			Including			Excluding			ment			folio
	Value at		ment			from		on			Total from			Invest-		Realized			butions		Total			in Net			Value at					at End of			Expenses			Expenses			Expenses			Income to			Turn-
	Beginning		Income			(to)		Invest-			Investment			ment		Capital			from		Distri-			Asset			End of		Total			Period			not Subject			not Subject			not Subject			Average			over
Class	of Period		(Loss)			Affiliate		ments			Operations			Income		Gains			Capital		butions			Value			Period		Return(b)				(000’s	)	to Cap(c)			to Cap(c)			to Cap(c)			Net Assets			Rate(d)
For the Six-Month Period Ended April 30, 2009 (Unaudited)
A	$	8.73	$	0.01		$	—	$	0.05		$	0.06		$	—	$	—		$	—	$	—		$	0.06		$	8.79		0.69	%(e)	$	441,602			1.60	%(f)		1.59	%(f)		1.59	%(f)		0.29	%(f)		88	%
B		8.47		(0.01	)		—		0.05			0.04			—		—			—		—			0.04			8.51		0.47	(e)		62,161			2.53	(f)		2.17	(f)		2.17	(f)		(0.29	) (f)		—
C		8.50		(0.02	)		—		0.05			0.03			—		—			—		—			0.03			8.53		0.24	(e)		258,286			2.31	(f)		2.31	(f)		2.31	(f)		(0.43	) (f)		—
I		8.80		0.03			—		0.05			0.08			—		—			—		—			0.08			8.88		0.91	(e)		59,992			1.20	(f)		1.20	(f)		1.20	(f)		0.67	(f)		—
R3		8.73		—			—		0.05			0.05			—		—			—		—			0.05			8.78		0.57	(e)		5,868			1.87	(f)		1.85	(f)		1.85	(f)		0.04	(f)		—
R4		8.79		0.01			—		0.06			0.07			—		—			—		—			0.07			8.86		0.80	(e)		3,535			1.48	(f)		1.48	(f)		1.48	(f)		0.41	(f)		—
R5		8.84		0.02			—		0.05			0.07			—		—			—		—			0.07			8.91		0.79	(e)		452			1.21	(f)		1.21	(f)		1.21	(f)		0.71	(f)		—
Y		8.86		0.03			—		0.06			0.09			—		—			—		—			0.09			8.95		1.02	(e)		47,601			1.06	(f)		1.06	(f)		1.06	(f)		0.87	(f)		—
For the Year Ended October 31, 2008
A		16.95		0.02			—		(7.07	)		(7.05	)		—		(1.17	)		—		(1.17	)		(8.22	)		8.73		(44.43	)		479,795			1.40			1.40			1.40			0.12			159
B		16.62		(0.09	)		—		(6.89	)		(6.98	)		—		(1.17	)		—		(1.17	)		(8.15	)		8.47		(44.92	)		66,057			2.27			2.27			2.27			(0.75	)		—
C		16.66		(0.07	)		—		(6.92	)		(6.99	)		—		(1.17	)		—		(1.17	)		(8.16	)		8.50		(44.87	)		269,662			2.14			2.14			2.14			(0.62	)		—
I		17.02		0.04			—		(7.09	)		(7.05	)		—		(1.17	)		—		(1.17	)		(8.22	)		8.80		(44.23	)		79,436			1.08			1.08			1.08			0.43			—
R3		17.00		(0.01	)		—		(7.09	)		(7.10	)		—		(1.17	)		—		(1.17	)		(8.27	)		8.73		(44.60	)		4,148			1.77			1.77			1.77			(0.28	)		—
R4		17.05		0.01			—		(7.10	)		(7.09	)		—		(1.17	)		—		(1.17	)		(8.26	)		8.79		(44.40	)		1,232			1.43			1.43			1.43			0.08			—
R5		17.10		0.04			—		(7.13	)		(7.09	)		—		(1.17	)		—		(1.17	)		(8.26	)		8.84		(44.26	)		151			1.16			1.16			1.16			0.37			—
Y		17.12		—			—		(7.09	)		(7.09	)		—		(1.17	)		—		(1.17	)		(8.26	)		8.86		(44.20	)		21,827			1.01			1.01			1.01			0.51			—
For the Year Ended October 31, 2007
A		13.13		—			—		4.13			4.13			—		(0.31	)		—		(0.31	)		3.82			16.95		32.15			821,428			1.44			1.44			1.44			—			102
B		12.99		(0.07	)		—		4.01			3.94			—		(0.31	)		—		(0.31	)		3.63			16.62		31.01			104,908			2.29			2.29			2.29			(0.86	)		—
C		13.00		(0.06	)		—		4.03			3.97			—		(0.31	)		—		(0.31	)		3.66			16.66		31.22			415,688			2.16			2.16			2.16			(0.73	)		—
I		13.14		0.02			—		4.17			4.19			—		(0.31	)		—		(0.31	)		3.88			17.02		32.60			83,905			1.11			1.11			1.11			0.31			—
R3(g)		13.52		(0.03	)		—		3.51			3.48			—		—			—		—			3.48			17.00		25.74	(e)		452			1.85	(f)		1.85	(f)		1.85	(f)		(0.43	) (f)		—
R4(h)		13.52		(0.01	)		—		3.54			3.53			—		—			—		—			3.53			17.05		26.11	(e)		14			1.47	(f)		1.47	(f)		1.47	(f)		(0.06	) (f)		—
R5(i)		13.52		—			—		3.58			3.58			—		—			—		—			3.58			17.10		26.48	(e)		136			1.22	(f)		1.22	(f)		1.22	(f)		0.03	(f)		—
Y		13.20		0.06			—		4.17			4.23			—		(0.31	)		—		(0.31	)		3.92			17.12		32.75			158			1.02			1.02			1.02			0.44			—
For the Year Ended October 31, 2006
A		11.07		(0.01	)		—		2.22			2.21			—		(0.15	)		—		(0.15	)		2.06			13.13		20.21			241,238			1.66			1.60			1.60			(0.13	)		113
B		11.02		(0.07	)		—		2.19			2.12			—		(0.15	)		—		(0.15	)		1.97			12.99		19.48			29,169			2.54			2.35			2.35			(0.88	)		—
C		11.04		(0.06	)		—		2.17			2.11			—		(0.15	)		—		(0.15	)		1.96			13.00		19.35			97,678			2.37			2.33			2.33			(0.86	)		—
I(j)		12.51		—			—		0.63			0.63			—		—			—		—			0.63			13.14		5.04	(e)		3,316			1.46	(f)		0.80	(f)		0.80	(f)		0.45	(f)		—
Y		11.08		0.12			—		2.15			2.27			—		(0.15	)		—		(0.15	)		2.12			13.20		20.74			119			1.20			1.15			1.15			0.39			—
From (commencement of operations) April 29, 2005, through October 31, 2005
A(k)		10.00		(0.01	)		—		1.08			1.07			—		—			—		—			1.07			11.07		10.70	(e)		56,981			1.99	(f)		1.60	(f)		1.60	(f)		(0.30	) (f)		46
B(l)		10.00		(0.03	)		—		1.05			1.02			—		—			—		—			1.02			11.02		10.20	(e)		6,343			2.97	(f)		2.35	(f)		2.35	(f)		(1.10	) (f)		—
C(m)		10.00		(0.03	)		—		1.07			1.04			—		—			—		—			1.04			11.04		10.40	(e)		19,494			2.82	(f)		2.35	(f)		2.35	(f)		(1.12	) (f)		—
Y(n)		10.00		0.02			—		1.06			1.08			—		—			—		—			1.08			11.08		10.80	(e)		332			1.41	(f)		1.15	(f)		1.15	(f)		0.29	(f)		—

(a)	Information presented relates to a share outstanding throughout the indicated period.
(b)	Assumes initial investment at net asset value at the beginning of each period, reinvestment of all distributions, the complete redemption of the investment at net asset value at the end of each period and no sales charge. Total return would be reduced if sales charges were taken into account.
(c)	Ratios do not include fees paid indirectly (See Expenses in the accompanying Notes to Financial Statements).
(d)	Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between the classes of shares issued.
(e)	Not annualized.
(f)	Annualized.
(g)	Commenced operations on December 22, 2006.
(h)	Commenced operations on December 22, 2006.
(i)	Commenced operations on December 22, 2006.
(j)	Commenced operations on August 31, 2006.
(k)	Commenced operations on April 29, 2005.
(l)	Commenced operations on April 29, 2005.
(m)	Commenced operations on April 29, 2005.
(n)	Commenced operations on April 29, 2005.

22

The Hartford Capital Appreciation II Fund

Directors and Officers (Unaudited)

The Board of Directors appoints officers who are responsible for the day-to-day operations of the Fund and who execute policies formulated by the Directors. Each director serves until his or her death, resignation, or retirement or until the next annual meeting of shareholders is held or until his or her successor is elected and qualifies.

Directors and officers who are employed by or who have a financial interest in The Hartford are considered “interested” persons of the Fund pursuant to the Investment Company Act of 1940, as amended. Each officer and three of the Fund’s directors, as noted in the chart below, are “interested” persons of the Fund. Each director serves as a director for The Hartford Mutual Funds, Inc., The Hartford Mutual Funds II, Inc., The Hartford Income Shares Fund, Inc., Hartford Series Fund, Inc., and Hartford HLS Series Fund II, Inc., which collectively consist of 100 funds. Correspondence may be sent to directors and officers c/o Hartford Mutual Funds, P.O. Box 2999, Hartford, Connecticut 06104-2999, except that correspondence to Ms. Fagely may be sent to 500 Bielenberg Drive, Woodbury, Minnesota 55125.

The table below sets forth, for each director and officer, his or her name, year of birth, current position with the Fund and date first elected or appointed to The Hartford Mutual Funds, Inc. (“MF”) and The Hartford Mutual Funds II, Inc. (“MF2”), principal occupation, and, for directors, other directorships held. The Fund’s statement of additional information contains further information on the directors and is available free of charge by calling 1-888-843-7824 or writing to Hartford Mutual Funds, P.O. Box 64387, St. Paul, MN 55164-0387.

Information on the aggregate remuneration paid to the directors of the Fund can be found in the Statement of Operations herein. The Fund pays a portion of the Chief Compliance Officer’s compensation, but does not pay salaries or compensation to any of its officers or directors who are employed by The Hartford.

Non-Interested Directors

Lynn S. Birdsong (1946) Director since 2003, Co-Chairman of the Investment Committee

Mr. Birdsong is a private investor. Since 1981, Mr. Birdsong has been a partner in Birdsong Company, an advertising specialty firm. Since 2003, Mr. Birdsong has been an independent director of The Japan Fund. From 2003 to March 2005, Mr. Birdsong was an independent director of the Atlantic Whitehall Funds. From 1979 to 2002, Mr. Birdsong was a managing director of Zurich Scudder Investments, an investment management firm. During his employment with Scudder, Mr. Birdsong was an interested director of The Japan Fund.

Robert M. Gavin, Jr. (1940) Director since 2002 (MF) and 1986 (MF2), Chairman of the Board since 2004

Dr. Gavin is an educational consultant. Prior to September 1, 2001, he was President of Cranbrook Education Community and prior to July 1996, he was President of Macalester College, St. Paul, Minnesota.

Duane E. Hill (1945) Director since 2001 (MF) and 2002 (MF2), Chairman of the Nominating Committee

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

Sandra S. Jaffee (1941) Director since 2005

Ms. Jaffee is Chairman and Chief Executive Officer of Fortent (formerly Searchspace Group), a leading provider of compliance/regulatory technology to financial institutions. Ms. Jaffee served as an Entrepreneur in Residence with Warburg Pincus, a private equity firm, from August 2004 to August 2005. From September 1995 to July 2004, Ms. Jaffee served as Executive Vice President at Citigroup, where she was President and Chief Executive Officer of Citibank’s Global Securities Services (1995-2003).

William P. Johnston (1944) Director since 2005, Chairman of the Compliance Committee

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

23

The Hartford Capital Appreciation II Fund
Directors and Officers (Unaudited) — (continued)

Phillip O. Peterson (1944) Director since 2002 (MF) and 2000 (MF2), Chairman of the Audit Committee

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

Lemma W. Senbet (1946) Director since 2005

Dr. Senbet is the William E. Mayer Chair Professor of Finance at the University of Maryland, Robert H. Smith School of Business. He was chair of the Finance Department during 1998-2006. Previously he was an endowed professor of finance at the University of Wisconsin-Madison. Also, he was director of the Fortis Funds from March 2000-July 2002. Dr. Senbet served the finance profession in various capacities, including as director of the American Finance Association and President of the Western Finance Association. In 2006, Dr. Senbet was inducted Fellow of Financial Management Association International for his career-long distinguished scholarship and professional service.

Interested Directors and Officers

Thomas M. Marra* (1958) Director since 2002

Mr. Marra has served as President and Chief Operating Officer of The Hartford Financial Services Group, Inc. (“The Hartford”) since 2007. Mr. Marra currently serves as Director of Hartford Life, Inc. (“HL, Inc.”). Mr. Marra served as Chief Operating Officer of Hartford Life Insurance Company, Inc. (“Hartford Life”) (2000-2008), as President of Hartford Life (2002-2008) and as Director of Hartford Life’s Investment Products Division from 1998 to 2000.

* On February 24, 2009, The Hartford and Mr. Marra determined to enter into a mutually agreed separation whereby Mr. Marra will retire, and his role as an executive officer and employee of The Hartford will terminate, effective July 3, 2009. Mr. Marra will resign his position as a Director of the Fund effective June 25, 2009.

Lowndes A. Smith (1939) Director since 2002, Co-Chairman of the Investment Committee

Mr. Smith served as Vice Chairman of The Hartford from February 1997 to January 2002, as President and Chief Executive Officer of Hartford Life, Inc. from February 1997 to January 2002, and as President and Chief Operating Officer of The Hartford Life Insurance Companies from January 1989 to January 2002. Mr. Smith serves as a Director of White Mountains Insurance Group, Ltd., One Beacon Insurance, Symetra Financial and as a Managing Director of Whittington Gray Associates.

John C. Walters* (1962) Director since 2008

Mr. Walters currently serves as Chief Executive Officer, President and Director of HL, Inc. Mr. Walters previously served as President of the U.S. Wealth Management Division of Hartford Life, Inc., as Co-Chief Operating Officer of Hartford Life Insurance Company (2007-2008) and as Executive Vice President and Director of its Investment Products Division (2000-2008). Mr. Walters also serves as Chairman of the Board, Chief Executive Officer, President and Director of Hartford Life Insurance Company and as Executive Vice President of The Hartford. In addition, Mr. Walters is Manager of HL Investment Advisors, LLC (“HL Advisors”).

* Mr. Walters previously served as President and Chief Executive Officer of the Fund (2007 — 2009).

Other Officers

Robert M. Arena, Jr. (1968) President and Chief Executive Officer since 2009 (served as Vice President of the Fund (2006 — 2009))

Mr. Arena serves as Executive Vice President of Hartford Life Insurance Company, (“Hartford Life”). Additionally, Mr. Arena is Director and Senior Vice President of Hartford Administrative Services Company, (“HASCO”), Manager, Chief Executive Officer and President of Hartford Investment Financial Services, LLC (“HIFSCO”) and HL Advisors. Prior to joining The Hartford in 2004, he was Senior Vice President in charge of Product Management for American Skandia/Prudential in the individual annuities division. Mr. Arena joined American Skandia in 1996.

Tamara L. Fagely (1958) Vice President, Treasurer and Controller since 2002 (MF) 1993 (MF2)

Ms. Fagely has been a Vice President of HASCO since 1998 and Chief Financial Officer since 2006. Currently Ms. Fagely is a Vice President of Hartford Life. She served as Assistant Vice President of Hartford Life from December 2001 through March 2005. In addition, Ms. Fagely is Controller and Chief Financial Officer of HIFSCO.

Brian Ferrell (1962) AML Compliance Officer since 2008

Mr. Ferrell has served as Assistant Vice President and AML Compliance Officer for The Hartford since 2006 and as AML Compliance Officer for HASCO and Hartford Investor Services Company, LLC (“HISC”) since 2008. Prior to joining The Hartford in 2006, Mr. Ferrell held various positions at the U.S. Department of the Treasury, (the “Treasury”), from 2001 to 2006 where he served as Chief Counsel for the Treasury’s Financial Crimes Enforcement Network, (“FinCEN”) from 2005 — 2006.

24

Thomas D. Jones, III (1965) Vice President and Chief Compliance Officer since 2006

Mr. Jones serves as Chief Compliance Officer for the Hartford Mutual Funds and Vice President and Director of Securities Compliance for The Hartford. He is also Vice President of HIFSCO, HL Advisors, and Hartford Life Insurance Company. Mr. Jones joined The Hartford in 2006 from SEI Investments, where he served as Chief Compliance Officer for its mutual funds and investment advisers. Prior to joining SEI, Mr. Jones was First Vice President and Compliance Director for Merrill Lynch Investment Managers (Americas) (“MLIM”), where he worked from 1992-2004. At MLIM, Mr. Jones was responsible for the compliance oversight of various investment products, including mutual funds, wrap accounts, institutional accounts and alternative investments.

Edward P. Macdonald (1967) Vice President, Secretary and Chief Legal Officer since 2005

Mr. Macdonald serves as Assistant General Counsel and Assistant Vice President of The Hartford and Chief Legal Officer and Vice President of HIFSCO. He also serves as Vice President and Secretary of HASCO, Assistant Vice President of Hartford Life, and Chief Legal Officer, Secretary and Vice President of HL Advisors. Prior to joining The Hartford in 2005, Mr. Macdonald was Chief Counsel, Investment Management for Prudential Financial (formerly American Skandia Investment Services, Inc.). He joined Prudential in April 1999.

Vernon J. Meyer (1964) Vice President since 2006

Mr. Meyer serves as Senior Vice President of Hartford Life and as Director of its Investment Advisory Group in the Individual Markets Group segment. He also serves as Senior Vice President of HIFSCO and HL Advisors. Prior to joining The Hartford in 2004, Mr. Meyer was with MassMutual which he joined in 1987.

D. Keith Sloane (1960) Vice President since 2009

Mr. Sloane is a Senior Vice President of Hartford Life where he serves as Director of mutual fund product management for The Hartford’s mutual funds and 529 college savings businesses. Additionally, Mr. Sloane currently serves as Senior Vice President of HIFSCO, HL Advisors, and HASCO. Prior to joining The Hartford in 2007, Mr. Sloane was Director of product marketing and led the mutual fund business for Wachovia Securities (“Wachovia”) in their investment products group. Mr. Sloane joined Wachovia in 1995.

Jane Wolak (1961) Vice President since 2009

Ms. Wolak currently serves as Vice President of Hartford Life. Ms. Wolak joined Hartford Life as Vice President, Retail Product Services in May 2007. She is also Vice President of HASCO. Previously, Ms. Wolak was with Sun Life Financial where she held the position of Vice President, Service Center Operations from 2001 — 2007.

HOW TO OBTAIN A COPY OF THE FUND’S PROXY VOTING POLICIES AND VOTING RECORDS

A description of the policies and procedures that the Fund uses to determine how to vote proxies relating to portfolio securities and a record of how the Fund voted any proxies for the twelve-month period ended June 30, 2008 is available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov.

QUARTERLY PORTFOLIO HOLDINGS INFORMATION

The Fund files a complete schedule of portfolio holdings with the Commission for the first and third quarters of each fiscal year on Form N-Q. The Fund’s Forms are available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov. The Form N-Q may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330.

25

The Hartford Capital Appreciation II Fund

Expense Example (Unaudited)

Your Fund’s Expenses

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments and contingent deferred sales charges (CDSC) (2) ongoing costs including management fees; distribution fees; and other fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the period of October 31, 2008 through April 30, 2009.

Actual Expenses

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

Hypothetical Example for Comparison Purposes

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

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads) and CDSC. Therefore, the second line 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 are equal to the Fund’s annualized expense ratios multiplied by average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

	Actual return						Hypothetical (5% return before expenses)
					Expenses paid						Expenses paid					Days in
					during the period						during the period					the		Days
	Beginning		Ending Account		October 31, 2008		Beginning		Ending Account		October 31,		Annualized			current		in the
	Account Value		Value		through		Account Value		Value		2008 through		expense			1/2		full
	October 31, 2008		April 30, 2009		April 30, 2009		October 31, 2008		April 30, 2009		April 30, 2009		ratio			year		year
Class A	$	1,000.00	$	1,006.87	$	7.91	$	1,000.00	$	1,016.90	$	7.95		1.59	%		181		365
Class B	$	1,000.00	$	1,004.72	$	10.78	$	1,000.00	$	1,014.03	$	10.83		2.17			181		365
Class C	$	1,000.00	$	1,002.35	$	11.46	$	1,000.00	$	1,013.33	$	11.53		2.31			181		365
Class I	$	1,000.00	$	1,009.09	$	5.97	$	1,000.00	$	1,018.84	$	6.00		1.20			181		365
Class R3	$	1,000.00	$	1,005.72	$	9.20	$	1,000.00	$	1,015.62	$	9.24		1.85			181		365
Class R4	$	1,000.00	$	1,007.96	$	7.36	$	1,000.00	$	1,017.45	$	7.40		1.48			181		365
Class R5	$	1,000.00	$	1,007.91	$	6.02	$	1,000.00	$	1,018.79	$	6.05		1.21			181		365
Class Y	$	1,000.00	$	1,010.15	$	5.28	$	1,000.00	$	1,019.53	$	5.30		1.06			181		365

26

The Hartford Checks and Balances Fund

Table of Contents

Manager Discussions (Unaudited)	2
Financial Statements
Schedule of Investments at April 30, 2009 (Unaudited)	4
Statement of Assets and Liabilities at April 30, 2009 (Unaudited)	5
Statement of Operations for the Six Month Period Ended April 30, 2009 (Unaudited)	6
Statement of Changes in Net Assets for the Six Month Period Ended April 30, 2009 (Unaudited) and the Year Ended October 31, 2008	7
Notes to Financial Statements (Unaudited)	8
Financial Highlights (Unaudited)	16
Directors and Officers (Unaudited)	17
How to Obtain a Copy of the Fund’s Proxy Voting Policies and Proxy Voting Records (Unaudited)	19
Quarterly Portfolio Holdings Information (Unaudited)	19
Expense Example (Unaudited)	20

The Hartford Checks and Balances Fund

(advised by Hartford Investment Financial Services, LLC)

Performance Overview(1) 5/31/07 — 4/30/09
Growth of a $10,000 investment in Class A which includes Sales Charge

Barclays Capital U.S. Aggregate Bond Index is an unmanaged index and is composed of securities from the Barclays Capital Government/Credit Bond Index, Mortgage-Backed Securities Index, Asset-Backed Securities Index and Commercial Mortgage-Backed Securities Index.

Russell 3000 Index is an unmanaged index that measures the performance of the 3,000 largest U.S. companies based on total market capitalization.

S&P 500 Index is a market capitalization weighted price index composed of 500 widely held common stocks.

You cannot invest directly in an index.

The value of shares will fluctuate so that, when redeemed, shares may be worth more or less than their original cost. The chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.

Investment objective — Seeks long-term capital appreciation and income.

Average Annual Total Returns(2,3,4) (as of 4/30/09)

	Inception		1			Since
	Date		Year			Inception
Checks and Balances A#		5/31/07		-25.68	%		-13.67	%
Checks and Balances A##		5/31/07		-29.76	%		-16.18	%
Checks and Balances B#		5/31/07		-26.37	%		-14.37	%
Checks and Balances B##		5/31/07		-29.94	%		-16.09	%
Checks and Balances C#		5/31/07		-26.26	%		-14.29	%
Checks and Balances C##		5/31/07		-26.98	%		-14.29	%
Checks and Balances I#		5/31/07		-25.46	%		-13.51	%
Checks and Balances R3#		5/31/07		-25.76	%		-13.72	%
Checks and Balances R4#		5/31/07		-25.65	%		-13.65	%
Checks and Balances R5#		5/31/07		-25.53	%		-13.58	%

#	Without sales charge
##	With sales charge
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
(1)	Growth of a $10,000 investment in Classes B, C, I, R3, R4 and R5 shares will vary from results seen above due to differences in the expenses charged to these classes.
(2)	The initial investment in Class A shares reflects the maximum sales charge and Classes B and C reflect CDSC.
(3)	Total returns presented above were calculated using the Fund’s net asset value available to shareholders for sale or redemption of Fund shares on April 30, 2009, which excludes investment transactions as of this date.
(4)	Class I shares commenced operations on 2/29/08. Performance prior to 2/29/08 reflects Class A performance. Class R3, R4 and R5 shares commenced operations on 8/29/08. Performance prior to 8/29/08 reflects Class A performance.

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

Portfolio Manager
Vernon J. Meyer, CFA
Senior Vice President

How did the Fund perform?

The Class A shares of The Hartford Checks and Balances Fund returned 0.22%, before sales charge, for the six-month period ended April 30, 2009, versus -1.70% for the Lipper Mixed-Asset Target Allocation Growth Funds average, 7.74% for the Barclays Capital U.S. Aggregate Bond Index, -8.53% for the S&P 500 Index, and -7.46% for the Russell 3000 Index.

Why did the Fund perform this way?

The Fund makes equal allocations of its assets to Class Y shares of Hartford Mutual Funds (“Underlying Funds”): The Hartford Capital Appreciation Fund, The Hartford Dividend and Growth Fund, and The Hartford Total Return Bond Fund. The Underlying Funds may invest in a wide variety of instruments, which primarily include U.S. and foreign equity securities, fixed income and money market securities. The Fund is not actively managed,

2

and the Fund’s assets will be rebalanced back to one-third each as soon as reasonably practicable whenever the Fund’s investment in any single Underlying Fund deviates from the target allocation by more than 5%.

The Fund’s relative performance benefited most from the performance of The Hartford Total Return Bond Fund which was 6.57%. The return of The Hartford Dividend and Growth Fund of -6.07% detracted most from relative performance. The Hartford Capital Appreciation Fund returned -0.22%.

What is your outlook?

The Fund will continue to make equal allocations of its assets to the three Underlying Funds. Please refer to the Hartford Investor.com website for the shareholder report of each Underlying Fund.

Composition by Underlying Fund

as of April 30, 2009

	Percentage of Net
Fund Name	Assets
The Hartford Capital Appreciation Fund, Class Y		34.0	%
The Hartford Dividend and Growth Fund, Class Y		32.8
The Hartford Total Return Bond Fund, Class Y		32.8
Other Assets and Liabilities		0.4
Total		100.0	%

3

The Hartford Checks and Balances Fund

Schedule of Investments

April 30, 2009 (Unaudited)

(000’s Omitted)

Shares or Principal Amount			Market Value ╪
AFFILIATED INVESTMENT COMPANIES — 99.6%
EQUITY FUNDS — 66.8%
	14,892	The Hartford Capital Appreciation Fund, Class Y				$	368,126
	26,007	The Hartford Dividend and Growth Fund, Class Y					355,521
		Total equity funds (cost $1,027,810)				$	723,647
FIXED INCOME FUNDS — 32.8%
	36,911	The Hartford Total Return Bond Fund, Class Y				$	354,718
		Total fixed income funds (cost $378,297)				$	354,718
		Total investments in affiliated investment companies (cost $1,406,107)				$	1,078,365
		Total long-term investments (cost $1,406,107)				$	1,078,365
		Total investments (cost $1,406,107) ▲		99 .6	%	$	1,078,365
		Other assets and liabilities		0 .4	%		4,773
		Total net assets		100.0	%	$	1,083,138

Note:	Percentage of investments as shown is the ratio of the total market value to total net assets.
▲	At April 30, 2009, the cost of securities for federal income tax purposes was $1,408,819 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	—
Unrealized Depreciation		(330,454	)
Net Unrealized Depreciation	$	(330,454	)

╪ See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of securities.

FAS 157 Disclosure of Investment Valuation Hierarchy Levels

Assets:
Investment in securities — Level 1	$	1,078,365
Total	$	1,078,365

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

4

The Hartford Checks and Balances Fund

Statement of Assets and Liabilities

April 30, 2009 (Unaudited)

(000’s Omitted)

Assets:
Investments in underlying affiliated funds, at fair value (cost $1,406,107)	$	1,078,365
Receivables:
Fund shares sold		6,672
Dividends and interest		1,061
Other assets		208
Total assets		1,086,306
Liabilities:
Payables:
Investment securities purchased		1,606
Fund shares redeemed		1,330
Distribution fees		83
Accrued expenses		149
Total liabilities		3,168
Net assets	$	1,083,138
Summary of Net Assets:
Capital stock and paid-in-capital		1,418,396
Accumulated undistributed net investment income		616
Accumulated net realized loss on investments		(8,132	)
Unrealized depreciation of investments		(327,742	)
Net assets	$	1,083,138
Shares authorized		1,000,000
Par value	$	0.001
Class A: Net asset value per share/Maximum offering price per share	$	7.13/$7.54
Shares outstanding		104,632
Net assets	$	745,814
Class B: Net asset value per share	$	7.10
Shares outstanding		14,643
Net assets	$	103,990
Class C: Net asset value per share	$	7.11
Shares outstanding		31,465
Net assets	$	223,587
Class I: Net asset value per share	$	7.13
Shares outstanding		1,300
Net assets	$	9,273
Class R3: Net asset value per share	$	7.13
Shares outstanding		44
Net assets	$	312
Class R4: Net asset value per share	$	7.13
Shares outstanding		12
Net assets	$	83
Class R5: Net asset value per share	$	7.13
Shares outstanding		11
Net assets	$	79

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

5

The Hartford Checks and Balances Fund

Statement of Operations

For the Six Month Period Ended April 30, 2009 (Unaudited)

(000’s Omitted)

Investment Income:
Dividends from underlying affiliated funds	$	20,841
Total investment income		20,841
Expenses:
Transfer agent fees		771
Distribution fees
Class A		810
Class B		446
Class C		1,017
Class R3		—
Class R4		—
Custodian fees		—
Accounting services		57
Registration and filing fees		115
Board of Directors’ fees		3
Audit fees		18
Other expenses		67
Total expenses (before waivers)		3,304
Expense waivers		(43	)
Total waivers		(43	)
Total expenses, net		3,261
Net investment income		17,580
Net Realized Loss on Investments:
Net realized loss on investments in underlying affiliated funds		(5,421	)
Net Realized Loss on Investments		(5,421	)
Net Changes in Unrealized Depreciation of Investments:
Net unrealized depreciation of investments		(6,664	)
Net Changes in Unrealized Depreciation of Investments		(6,664	)
Net Loss on Investments		(12,085	)
Net Increase in Net Assets Resulting from Operations	$	5,495

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

6

The Hartford Checks and Balances Fund

Statement of Changes in Net Assets

(000’s Omitted)

	For the Six-Month
	Period Ended			For the
	April 30, 2009			Year Ended
	(Unaudited)			October 31, 2008
Operations:
Net investment income	$	17,580		$	12,797
Net realized gain (loss) on investments		(5,421	)		6,765
Net unrealized depreciation of investments		(6,664	)		(329,223	)
Net increase (decrease) in net assets resulting from operations		5,495			(309,661	)
Distributions to Shareholders:
From net investment income
Class A		(13,292	)		(10,497	)
Class B		(1,500	)		(874	)
Class C		(3,439	)		(2,405	)
Class I		(192	)		(47	)
Class R3		(2	)		—
Class R4		(1	)		(1	)
Class R5		(2	)		(1	)
From net realized gain on investments
Class A		(4,882	)		—
Class B		(671	)		—
Class C		(1,587	)		—
Class I		(62	)		—
Class R3		(1	)		—
Class R4		—			—
Class R5		(1	)		—
Total distributions		(25,632	)		(13,825	)
Capital Share Transactions:
Class A		109,430			696,123
Class B		17,207			97,717
Class C		17,428			229,519
Class I		1,288			10,092
Class R3		220			101
Class R4		6			100
Class R5		2			101
Net increase from capital share transactions		145,581			1,033,753
Net increase in net assets		125,444			710,267
Net Assets:
Beginning of period		957,694			247,427
End of period	$	1,083,138		$	957,694
Accumulated undistributed (distribution in excess of) net investment income (loss)	$	616		$	1,464

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

7

The Hartford Checks and Balances Fund

Notes to Financial Statements

April 30, 2009 (Unaudited)

(000’s Omitted)

1.	Organization:
	The Hartford Mutual Funds, Inc. (“Company”) is an open-end management investment company comprised of fifty-two portfolios. Financial statements for The Hartford Checks and Balances Fund (the “Fund”), a series of the Company, are included in this report.
	The Company is organized under the laws of the State of Maryland and is registered with the Securities and Exchange Commission (“SEC”) under the Investment Company Act of 1940, as amended (“1940 Act”). The Fund is a diversified open-end management investment company.
	Class A shares are sold with a front-end sales charge of up to 5.50%. Class B shares are sold with a contingent deferred sales charge which is assessed on the lesser of the per share net asset value (“NAV”) of the shares at the time of redemption or the original purchase price, and declines from up to 5.00% to zero depending on the period of time the shares are held. Class C shares are sold with a contingent deferred sales charge of up to 1.00% on shares redeemed within twelve months of purchase. Class I shares are sold without sales charges to certain eligible investors through advisory fee-based wrap programs. Classes R3, R4, R5 shares, which are offered to employer-sponsored retirement plans, are sold without a sales charge. All classes of shares have identical voting, redemption, dividend, liquidation and other rights and the same terms and conditions, with the exceptions that each class may have different expenses, which may affect performance, and except that Class B shares automatically convert to Class A shares after 8 years.
	The Fund seeks its investment goal through investment in Class Y shares of a combination of Hartford mutual funds: The Hartford Capital Appreciation Fund, The Hartford Dividend and Growth Fund and The Hartford Total Return Bond Fund. The Fund is managed by Hartford Investment Financial Services, LLC (“HIFSCO”).
	Effective at the close of business on September 30, 2009 (the “Close Date”), no new or additional investments will be allowed in Class B shares of The Hartford Mutual Funds (including investments through any systematic investment plan). After the Close Date, existing shareholders of Class B shares may continue to hold their Class B shares, exchange their Class B shares for Class B shares of another Hartford Mutual Fund (as permitted by existing exchange privileges), and redeem their Class B shares as described in the Fund’s prospectus. Reinstatement privileges with respect to Class B shares will continue under the current policy. If you have chosen to reinvest capital gains and dividends, any such capital gains or dividends on Class B shares will continue to be reinvested in Class B shares of the Fund. For Class B shares outstanding as of the Close Date, all Class B share attributes, including the 12b-1 fee, contingent deferred sales charge schedule, and conversion to Class A shares remain unchanged.
2.	Significant Accounting Policies:
	The accounting policies of the affiliated underlying funds are outlined in the shareholder reports for such funds, available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov. The reports may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330. The affiliated Underlying Funds are not covered by this report.
	The following is a summary of significant accounting policies of the Fund, which are in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”).

a)	Security Transactions and Investment Income — Security transactions are recorded on the trade date (the date the order to buy or sell is executed). Security gains and losses are determined on the basis of identified cost.
	Dividend income is accrued as of the ex-dividend date. Income and capital gain distributions from Underlying Funds are recorded on the ex-dividend date.

8

b)	Security Valuation — Investments in open-end mutual funds are valued at the respective NAV of each open-end mutual fund on the valuation date.
	The Fund generally uses market prices in valuing portfolio securities. If market prices are not readily available or are deemed unreliable, the Fund will use the fair value of the security as determined in good faith under policies and procedures established by and under the supervision of the Fund’s Board of Directors. Market prices may be deemed unreliable, for example, if a security is thinly traded or if an event has occurred after the close of the security’s primary markets, but before the close of the New York Stock Exchange (the “Exchange”) (normally 4:00 p.m. Eastern Time, referred to as the “Valuation Time”) that is expected to affect the value of the portfolio security. The circumstances in which the Fund may use fair value pricing include, among others: (i) the occurrence of events that are significant to a particular issuer, such as mergers, restructuring or defaults; (ii) the occurrence of events that are significant to an entire market, such as natural disasters in a particular region or governmental actions; (iii) trading restrictions on securities; (iv) thinly traded securities and (v) market events such as trading halts and early market closings. In addition, with respect to the valuation of stocks primarily traded on foreign markets, the Fund uses a fair value pricing service approved by the Fund’s Board of Directors, which employs quantitative models that evaluate changes in the value of foreign market proxies (e.g., futures contracts, ADR’s, exchange traded funds (“ETF’s”)) after the close of the foreign markets but before the close of the Exchange. Securities that are primarily traded on foreign markets may trade on days that are not business days of the Fund. The value of the foreign securities in which the Fund invests may change on days when a shareholder will not be able to purchase or redeem shares of the Fund. Fair value pricing is subjective in nature and the use of fair value pricing by the Fund may cause the NAV of its shares to differ significantly from the NAV that would have been calculated using market prices at the close of the exchange on which a portfolio security is primarily traded but before the close of the Exchange. There can be no assurance that the Fund could obtain the fair value assigned to a security if the Fund were to sell the security at approximately the time at which the Fund determines its NAV.
	Debt securities (other than short-term obligations and senior floating rate interests) held by the Fund are valued on the basis of valuations furnished by an independent pricing service which determines valuations for normal institutional size trading units of debt securities. Senior floating rate interests generally trade in over-the-counter markets and are priced through an independent pricing service utilizing independent market quotations from loan dealers or financial institutions. Securities for which prices are not available from an independent pricing service are valued using market quotations obtained from one or more dealers that make markets in the securities in accordance with procedures established by the Fund’s Board of Directors. Generally, the Fund may use fair valuation in regard to debt securities when the Fund holds defaulted or distressed securities or securities in a company in which a reorganization is pending. Short-term investments with a maturity of more than 60 days when purchased are valued based on market quotations until the remaining days to maturity become less than 61 days. Investments that mature in 60 days or less are valued at amortized cost, which approximates market value.
	Exchange traded equity securities shall be valued at the last reported sale price on the exchange or market on which the security is primarily traded (the “Primary Market”) at the Valuation Time. If the security did not trade on the Primary Market, it may be valued at the Valuation Time at the last reported sale price on another exchange where it trades. The value of an equity security not traded on any exchange but traded on the Nasdaq Stock Market, Inc. (“Nasdaq”) or another over-the-counter market shall be valued at the last reported sale price or official closing price on the exchange or market on which the security is traded as of the Valuation Time. If it is not possible to determine the last reported sale price or official closing price on the relevant exchange or market at the Valuation Time, the value of the security shall be taken to be the most recent mean between bid and asked prices on such exchange or market at the Valuation Time.
	Securities of foreign issuers and non-dollar securities are translated from the local currency into U.S. dollars using prevailing exchange rates.
	Options contracts on securities, currencies, indexes, futures contracts, commodities and other instruments shall be valued at their most recent sales price at the Valuation Time on the Primary Market on which the instrument is primarily traded.

9

The Hartford Checks and Balances Fund

Notes to Financial Statements — (continued)

April 30, 2009 (Unaudited)

(000’s Omitted)

	If the instrument did not trade on the Primary Market, it may be valued at the most recent sales price at the Valuation Time on another exchange or market where it did trade.
	Futures contracts are valued at the most recent settlement price reported by an exchange on which, over time, they are traded most extensively. If a settlement price is not available, futures contracts will be valued at the most recent trade price as of the Valuation Time. If there were no trades, the contract shall be valued at the mean of the closing bid/ask prices as of the Valuation Time.
	Financial instruments for which prices are not available from an independent pricing service are valued using market quotations obtained from one or more dealers that make markets in securities in accordance with procedures established by the Fund’s Board of Directors.
	A forward currency contract shall be valued based on the price of the underlying currency at the prevailing interpolated exchange rate, which is a combination of the spot currency rate and the forward currency rate. Spot currency rates and forward currency rates are obtained from an independent pricing service on a daily basis not more than one hour before the Valuation Time.
	Swaps are valued based on custom valuations furnished by an independent pricing service. Swaps for which prices are not available from an independent pricing service are valued in accordance with procedures established by the Fund’s Board of Directors.
	Other derivative or contractual type instruments shall be valued using market prices if such instruments trade on an exchange or market. If such instruments do not trade on an exchange or market, such instruments shall be valued at a price at which the counterparty to such contract would repurchase the instrument. In the event that the counterparty cannot provide a price, such valuation may be determined in accordance with procedures established by the Fund’s Board of Directors.
c)	Fund Share Valuation and Dividend Distributions to Shareholders — Orders for the Fund’s shares are executed in accordance with the investment instructions of the shareholders. The NAV of the Fund’s shares is determined as of the close of each business day of the Exchange. The NAV is determined separately for each class of the Fund by dividing the Fund’s net assets attributable to that class by the number of shares of the class outstanding. Orders for the purchase of the Fund’s shares prior to the close of the Exchange on any day on which the Exchange is open for business are priced at the NAV determined as of the close of the Exchange. Orders after the close of the Exchange, or on a day on which the Exchange and/or the Fund is not open for business, are priced at the next determined NAV.
	The Fund intends to distribute substantially all of its net investment income and net realized capital gains to shareholders no less frequently than once a year. Normally, dividends from net investment income of the Fund are declared and paid quarterly. Dividends are paid on shares beginning on the business day after the day when the funds used to purchase the shares are collected by the transfer agent for the Fund. Long-term capital gains distributions received from underlying funds are distributed at least annually, when required. Unless shareholders specify otherwise, all dividends and distributions will be automatically reinvested in additional full or fractional shares of the Fund.
	Distributions from net investment income, realized capital gains and capital are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP with respect to character and timing. These differences include but are not limited to foreign currency gains and losses, losses deferred due to wash sales adjustments, adjustments related to Passive Foreign Investment Companies and certain derivatives, and excise tax regulations. Permanent book and federal income tax basis differences relating to shareholder distributions will result in reclassifications to certain of the Fund’s capital accounts (see Federal Income Taxes: Reclassification of Capital Accounts footnote).

10

d)	Use of Estimates — The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and the reported amounts of income and expenses during the period. Operating results in the future could vary from the amounts derived from management’s estimates.
e)	Financial Accounting Standards Board Financial Accounting Standards No. 157 — Effective November 1, 2008, the Fund adopted Financial Accounting Standards Board (“FASB”) Statement of Financial Accounting Standards No. 157, “Fair Value Measurements” (“FAS 157”). This standard clarifies the definition of fair value for financial reporting, establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements. Fair value is defined under FAS 157 as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Under FAS 157, a fair value measurement should reflect all of the assumptions that market participants would use in pricing the asset or liability, including assumptions about the risk inherent in a particular valuation technique, the effect of a restriction on the sale or use of an asset, and the risk of nonperformance.
	Various inputs are used in determining the value of the Fund’s investment. These inputs are summarized, per FAS 157, into three broad hierarchy levels. This hierarchy is based on whether the valuation inputs are observable or unobservable. These levels are:

• Level 1 — Quoted prices in active markets for identical securities. Level 1 includes exchange-traded instruments such as domestic equities, some foreign equities, options, futures, mutual funds, ETF’s, and rights and warrants.

• Level 2 — Observable inputs other than Level 1 prices, such as quoted prices for similar securities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the security. Level 2 includes debt securities that are traded less frequently than exchange-traded instruments and that are valued using third party pricing services and foreign equities, whose value is determined using a multi-factor regression model with inputs that are observable in the market; and money market instruments, which are carried at amortized cost.

• Level 3 — Significant unobservable inputs that are supported by little or no market activity. Level 3 includes financial instruments whose values are determined using broker quotes and require significant management judgment or estimation. This category includes broker quoted securities, long dated OTC options and securities where trading has been halted or there are certain restrictions on trading. While these securities are priced using unobservable inputs, the valuation of these securities reflects the best available data and management believes the prices are a good representation of exit price.

Individual securities within any of the above mentioned asset classes may be assigned a different hierarchical level than those presented above, as individual circumstances dictate.

FAS 157 also requires that a roll forward reconciliation be shown for all Level 3 securities from the beginning of the reporting period to the end of the reporting period. Part of this reconciliation includes transfers in and/or out of Level 3. For purposes of this reconciliation, transfers in are shown at the end of period fair value and transfers out are shown at the beginning of period fair value. During the six-month period ended April 30, 2009, the Fund held no Level 3 securities.

FASB Staff Position No. 157-4 — In April 2009, FASB released FASB Staff Position No. 157-4, “Determining Fair Value When the Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly” (“FSP FAS 157-4”). FSP FAS 157-4 provides additional guidance on determining whether a market for a financial asset is not active and a transaction is not distressed when measuring fair value under FAS 157. The FSP also requires additional disclosure detail on debt and equity securities by major investment categories. FSP FAS 157-4 is effective for interim and annual periods ending after June 15, 2009. At this time, management is evaluating the implications of FSP FAS 157-4 and does not believe it will impact valuation but will require additional disclosure. This additional disclosure has not yet been implemented.

11

The Hartford Checks and Balances Fund

Notes to Financial Statements — (continued)

April 30, 2009 (Unaudited)

(000’s Omitted)

f)

Financial Accounting Standards Board Financial Accounting Standards No. 161 — In March 2008, the FASB released Statement of Financial Accounting Standards No. 161, “Disclosures about Derivative Instruments and Hedging Activities” (“FAS 161”). FAS 161 requires companies to disclose information detailing the objectives and strategies for using derivative instruments, the level of derivative activity entered into by the company and any credit risk-related contingent features of the agreements. The application of FAS 161 is required for fiscal years and interim periods beginning after November 15, 2008. At this time, management is evaluating the implications of FAS 161 and has not yet implemented the new disclosure standard.

g)

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

3. Federal Income Taxes:

a)

Federal Income Taxes — For federal income tax purposes, the Fund intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code (“IRC”) by distributing substantially all of its taxable net investment income and net realized capital gains to its shareholders and otherwise complying with the requirements of regulated investment companies. The Fund has distributed substantially all of its income and capital gains in prior years and the Fund intends to distribute substantially all of its income and gains during the calendar year ending December 31, 2009. Accordingly, no provision for federal income or excise taxes has been made in the accompanying financial statements. Distributions from short-term capital gains are treated as ordinary income distributions for federal income tax purposes.

b)

The tax character of distributions paid by the Fund for the periods indicated is as follows (as adjusted for dividends payable):

	For the Year Ended		For the Year Ended
	October 31, 2008		October 31, 2007 *
Ordinary Income	$	13,825	$	483

* For the period May 31, 2007 (commencement of operations) through October 31, 2007.

As of October 31, 2008, the Fund’s components of distributable earnings (deficit) on a tax basis were as follows:

	Amount
Undistributed Ordinary Income	$	1,464
Undistributed Long-Term Capital Gain	$	7,205
Unrealized Depreciation*	$	(323,790	)
Total Accumulated Deficit	$	(315,121	)

* The differences between book-basis and tax-basis unrealized appreciation (depreciation) are attributable to the tax deferral of wash sales losses, the mark-to-market adjustment for certain derivatives in accordance with IRC Sec. 1256, the mark to market for Passive Foreign Investment Companies and basis differences in real estate investment trusts.

12

c)

Reclassification of Capital Accounts — In accordance with American Institute of Certified Public Accountants (AICPA) Statement of Position 93-2, Determination, Disclosure, and Financial Statement Presentation of Income, Capital Gain, and Return of Capital Distributions by Investment Companies, the Fund has recorded reclassifications in its capital account. These reclassifications had no impact on the NAV of the Fund. The reclassifications are a result of permanent differences between GAAP and tax accounting for such items as net operating losses that reduce distribution requirements. Adjustments are made to reflect the impact these items have on current and future distributions to shareholders. Therefore, the source of the Fund’s distributions may be shown in the accompanying Statement of Changes in Net Assets as from net investment income, from net realized gains on investments or from capital depending on the type of book and tax differences that exist. As of October 31, 2008, the Fund recorded reclassifications to increase undistributed net investment income by $2,272 and decrease accumulated net realized loss by $2,272.

d)

Financial Accounting Standards Board Interpretation No. 48 — On July 13, 2006, the FASB released FASB Interpretation No. 48 “Accounting for Uncertainty in Income Taxes” (“FIN 48”). FIN 48 provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. The Fund adopted FIN 48 for fiscal years beginning after December 15, 2006. Management has evaluated the implications of FIN 48 for all open tax years (tax years ended October 31, 2007 – 2008) and has determined there is no impact to the Fund’s financial statements.

4. Expenses:

a)

Investment Management Agreements — HIFSCO serves as investment manager to the Fund pursuant to an Investment Management Agreement with The Hartford Mutual Funds, Inc. As investment manager, HIFSCO has overall investment supervisory responsibility for the Fund. In addition, HIFSCO provides administrative personnel, services, equipment, facilities and office space for proper operation of the Fund. The Fund is managed by HIFSCO in accordance with the Fund’s investment objective and policies. The Fund does not currently pay any fees to HIFSCO for managing the Fund.

b)

Accounting Services Agreement — Pursuant to the Fund Accounting Agreement between Hartford Life Insurance Company (“HLIC”) and the Fund, HLIC provides accounting services to the Fund and receives monthly compensation on the Fund’s average net assets. The Fund’s accounting service fees are accrued daily and paid monthly.

Average Daily Net Assets	Annual Fee
On first $5 billion		0.012	%
Over $5 billion		0.010	%

c) Operating Expenses — Allocable expenses incurred by the Company are allocated to each Fund and allocated to classes within the Fund in proportion to the average daily net assets of the Fund and each class, except where allocation of certain expenses is more fairly made directly to the Fund or to specific classes within a Fund. During the six-month period ended April 30, 2009, HIFSCO has contractually limited the total operating expenses of this Fund, exclusive of taxes, interest expense, brokerage commissions, certain distribution expenses and extraordinary expenses as follows:

Class A	Class B			Class C			Class I			Class R3			Class R4			Class R5
1.15%		1.90	%		1.90	%		0.90	%		1.45	%		1.15	%		0.95	%

Voluntary limitations for total operating expenses include expenses incurred as the result of investing in other investment companies. Amounts incurred which exceed the above limits are deducted from expenses and are reported as waivers on the accompanying Statement of Operations.

d)

Distribution and Service Plan for Class A, B, C, R3 and R4 Shares — HIFSCO is the principal underwriter and distributor of the Fund. HIFSCO is engaged in distribution activities, which include marketing and distribution of shares through broker-dealers, financing distribution costs and maintaining financial books and records. For the six-month period ended April 30, 2009, HIFSCO received front-end load sales charges of $6,642 and contingent deferred sales charges of $396 from the Fund.

13

The Hartford Checks and Balances Fund

Notes to Financial Statements — (continued)

April 30, 2009 (Unaudited)

(000’s Omitted)

For the six-month period ended April 30, 2009, total sales commissions paid to affiliated brokers/dealers of The Hartford for distributing the Fund’s shares were $153. These commissions are in turn paid to sales representatives of the broker/dealers.

e)

Other Related Party Transactions — Certain officers of the Fund are directors and/or officers of HIFSCO and/or The Hartford or its subsidiaries. For the six-month period ended April 30, 2009, a portion of the Fund’s chief compliance officer’s salary was paid by the Fund in the amount of $2. Hartford Administrative Services Company (“HASCO”), an indirect wholly owned subsidiary of The Hartford, provides transfer agent services to the Fund. HASCO was compensated $747 for providing such services. These fees are accrued daily and paid monthly.

5.	Affiliate Holdings:
	As of April 30, 2009, affiliates of The Hartford had ownership of shares in the Fund as follows:

	Shares
Class R3		11
Class R4		11
Class R5		11

6.	Investment Transactions:
	For the six-month period ended April 30, 2009, the Fund’s aggregate purchases and sales of investment securities (excluding short-term investments) were as follows:

	Amount
Cost of Purchases Excluding U.S. Government Obligations	$	170,046
Sales Proceeds Excluding U.S. Government Obligations		31,686

14

7.	Capital Share Transactions:
	The following information is for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	For the Six-Month Period Ended April 30, 2009											For the Year Ended October 31, 2008
			Shares					Shares						Shares					Shares
			Issued for					Issued		Net Increase				Issued for					Issued		Net Increase
	Shares		Reinvested		Shares			from		(Decrease) of		Shares		Reinvested		Shares			from		(Decrease) of
	Sold		Dividends		Redeemed			Merger		Shares		Sold		Dividends		Redeemed			Merger		Shares
Class A
Shares		29,041		2,588		(15,757	)		—		15,872		82,896		1,054		(11,616	)		—		72,334
Amount	$	196,482	$	17,419	$	(104,471	)	$	—	$	109,430	$	788,469	$	9,911	$	(102,257	)	$	—	$	696,123
Class B
Shares		3,808		306		(1,591	)		—		2,523		11,434		86		(1,283	)		—		10,237
Amount	$	25,603	$	2,051	$	(10,447	)	$	—	$	17,207	$	108,095	$	808	$	(11,186	)	$	—	$	97,717
Class C
Shares		7,069		661		(5,265	)		—		2,465		27,792		217		(4,262	)		—		23,747
Amount	$	47,740	$	4,441	$	(34,753	)	$	—	$	17,428	$	264,512	$	2,054	$	(37,047	)	$	—	$	229,519
Class I
Shares		645		34		(512	)		—		167		1,291		4		(162	)		—		1,133
Amount	$	4,383	$	230	$	(3,325	)	$	—	$	1,288	$	11,382	$	39	$	(1,329	)	$	—	$	10,092
Class R3
Shares		33		—		—			—		33		11		—		—			—		11
Amount	$	218	$	2	$	—		$	—	$	220	$	101	$	—	$	—		$	—	$	101
Class R4
Shares		1		—		—			—		1		11		—		—			—		11
Amount	$	5	$	2	$	(1	)	$	—	$	6	$	100	$	—	$	—		$	—	$	100
Class R5
Shares		—		—		—			—		—		11		—		—			—		11
Amount	$	—	$	2	$	—		$	—	$	2	$	100	$	1	$	—		$	—	$	101

The following reflects the conversion of Class B Shares into Class A Shares (reflected as Class A Shares issued and Class B shares redeemed) for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	Shares		Dollars
For the Six-Month Period Ended April 30, 2009		44	$	294
For the Year Ended October 31, 2008		51	$	465

8.

Line of Credit:

The Fund is one of several Hartford Funds that participate in a $500 million committed revolving line of credit facility. The facility is to be used for temporary or emergency purposes. Under the arrangement, the Fund is required to own securities having a market value in excess of 300% of the total bank borrowings. The interest rate on borrowings varies depending on the nature of the loan. The facility also requires a fee to be paid based on the amount of the commitment. During the six-month period ended April 30, 2009, the Fund did not have any borrowings under this facility.

15

The Hartford Checks and Balances Fund

Financial Highlights — (Unaudited)

	- Selected Per-Share Data - (a)																												- Ratios and Supplemental Data -
																																		Ratio of			Ratio of			Ratio of
																																		Expenses			Expenses			Expenses
																																		to Average			to Average			to Average
																																		Net Assets			Net Assets			Net Assets
																																		Before			After			After
							Net																											Waivers			Waivers			Waivers
							Realized																											and			and			and			Ratio of
							and Un-									Distrib-								Net										Reimburse-			Reimburse-			Reimburse-			Net
			Net		Pay-		realized						Dividends			utions								Increase			Net							ments and			ments and			ments and			Invest-			Port-
	Net Asset		Invest-		ments		Gain						from Net			from			Distri-					(Decrease)			Asset					Net Assets		Including			Including			Excluding			ment			folio
	Value at		ment		from		(Loss) on			Total from			Invest-			Realized			butions		Total			in Net			Value at					at End of		Expenses			Expenses			Expenses			Income to			Turn-
	Beginning		Income		(to)		Invest-			Investment			ment			Capital			from		Distri-			Asset			End of		Total			Period		not Subject			not Subject			not Subject			Average			over
Class	of Period		(Loss)		Affiliate		ments			Operations			Income			Gains			Capital		butions			Value			Period		Return(b)			(000’s)		to Cap(c)			to Cap(c)			to Cap(c)			Net Assets			Rate(d)
For the Six-Month Period Ended April 30, 2009 (Unaudited)
A	$	7.32	$	0.13	$	—	$	(0.13	)	$	—		$	(0.14	)	$	(0.05	)	$	—	$	(0.19	)	$	(0.19	)	$	7.13		0.22	%(e)	$	745,814		0.45	%(f)		0.45	%(f)		0.45	%(f)		3.93	%(f)		3	%
B		7.29		0.11		—		(0.13	)		(0.02	)		(0.12	)		(0.05	)		—		(0.17	)		(0.19	)		7.10		(0.14	) (e)		103,990		1.32	(f)		1.24	(f)		1.24	(f)		3.13	(f)		—
C		7.29		0.11		—		(0.12	)		(0.01	)		(0.12	)		(0.05	)		—		(0.17	)		(0.18	)		7.11		(0.01	) (e)		223,587		1.22	(f)		1.21	(f)		1.21	(f)		3.20	(f)		—
I		7.32		0.14		—		(0.13	)		0.01			(0.15	)		(0.05	)		—		(0.20	)		(0.19	)		7.13		0.37	(e)		9,273		0.16	(f)		0.16	(f)		0.16	(f)		4.31	(f)		—
R3		7.31		0.13		—		(0.13	)		—			(0.13	)		(0.05	)		—		(0.18	)		(0.18	)		7.13		0.23	(e)		312		0.82	(f)		0.77	(f)		0.77	(f)		2.67	(f)		—
R4		7.32		0.13		—		(0.13	)		—			(0.14	)		(0.05	)		—		(0.19	)		(0.19	)		7.13		0.21	(e)		83		0.46	(f)		0.46	(f)		0.46	(f)		3.94	(f)		—
R5		7.32		0.14		—		(0.13	)		0.01			(0.15	)		(0.05	)		—		(0.20	)		(0.19	)		7.13		0.36	(e)		79		0.15	(f)		0.15	(f)		0.15	(f)		4.27	(f)		—
For the Year Ended October 31, 2008
A		10.51		0.21		—		(3.17	)		(2.96	)		(0.23	)		—			—		(0.23	)		(3.19	)		7.32		(28.70	)		649,297		0.42			0.41			0.41			2.08			6
B		10.49		0.15		—		(3.19	)		(3.04	)		(0.16	)		—			—		(0.16	)		(3.20	)		7.29		(29.32	)		88,364		1.26			1.23			1.23			1.22			—
C		10.49		0.15		—		(3.18	)		(3.03	)		(0.17	)		—			—		(0.17	)		(3.20	)		7.29		(29.29	)		211,502		1.17			1.17			1.17			1.26			—
I(g)		9.89		0.14		—		(2.57	)		(2.43	)		(0.14	)		—			—		(0.14	)		(2.57	)		7.32		(23.71	) (e)		8,293		0.16	(f)		0.16	(f)		0.16	(f)		2.09	(f)		—
R3(h)		9.38		0.03		—		(2.06	)		(2.03	)		(0.04	)		—			—		(0.04	)		(2.07	)		7.31		(21.19	) (e)		80		0.81	(f)		0.80	(f)		0.80	(f)		1.93	(f)		—
R4(i)		9.38		0.03		—		(2.05	)		(2.02	)		(0.04	)		—			—		(0.04	)		(2.06	)		7.32		(21.06	) (e)		79		0.51	(f)		0.50	(f)		0.50	(f)		2.23	(f)		—
R5(j)		9.38		0.03		—		(2.04	)		(2.01	)		(0.05	)		—			—		(0.05	)		(2.06	)		7.32		(21.04	) (e)		79		0.21	(f)		0.21	(f)		0.21	(f)		2.52	(f)		—
From (commencement of operations) May 31, 2007, through October 31, 2007
A(k)		10.00		0.05		—		0.51			0.56			(0.05	)		—			—		(0.05	)		0.51			10.51		5.56	(e)		172,572		0.43	(f)		0.43	(f)		0.43	(f)		1.77	(f)		—
B(l)		10.00		0.03		—		0.49			0.52			(0.03	)		—			—		(0.03	)		0.49			10.49		5.24	(e)		19,750		1.26	(f)		1.25	(f)		1.25	(f)		0.96	(f)		—
C(m)		10.00		0.03		—		0.49			0.52			(0.03	)		—			—		(0.03	)		0.49			10.49		5.23	(e)		55,105		1.18	(f)		1.18	(f)		1.18	(f)		1.02	(f)		—

(a)	Information presented relates to a share outstanding throughout the indicated period.
(b)	Assumes initial investment at net asset value at the beginning of each period, reinvestment of all distributions, the complete redemption of the investment at net asset value at the end of each period and no sales charge. Total return would be reduced if sales charges were taken into account.
(c)	Expense ratios do not include expenses of the Underlying Funds.
(d)	Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between the classes of shares issued.
(e)	Not annualized.
(f)	Annualized.
(g)	Commenced operations on February 29, 2008.
(h)	Commenced operations on August 29, 2008.
(i)	Commenced operations on August 29, 2008.
(j)	Commenced operations on August 29, 2008.
(k)	Commenced operations on May 31, 2007.
(l)	Commenced operations on May 31, 2007.
(m)	Commenced operations on May 31, 2007.

16

The Hartford Checks and Balances Fund

Directors and Officers (Unaudited)

The Board of Directors appoints officers who are responsible for the day-to-day operations of the Fund and who execute policies formulated by the Directors. Each director serves until his or her death, resignation, or retirement or until the next annual meeting of shareholders is held or until his or her successor is elected and qualifies.

Directors and officers who are employed by or who have a financial interest in The Hartford are considered “interested” persons of the Fund pursuant to the Investment Company Act of 1940, as amended. Each officer and three of the Fund’s directors, as noted in the chart below, are “interested” persons of the Fund. Each director serves as a director for The Hartford Mutual Funds, Inc., The Hartford Mutual Funds II, Inc., The Hartford Income Shares Fund, Inc., Hartford Series Fund, Inc., and Hartford HLS Series Fund II, Inc., which collectively consist of 100 funds. Correspondence may be sent to directors and officers c/o Hartford Mutual Funds, P.O. Box 2999, Hartford, Connecticut 06104-2999, except that correspondence to Ms. Fagely may be sent to 500 Bielenberg Drive, Woodbury, Minnesota 55125.

The table below sets forth, for each director and officer, his or her name, year of birth, current position with the Fund and date first elected or appointed to The Hartford Mutual Funds, Inc. (“MF”) and The Hartford Mutual Funds II, Inc. (“MF2”), principal occupation, and, for directors, other directorships held. The Fund’s statement of additional information contains further information on the directors and is available free of charge by calling 1-888-843-7824 or writing to Hartford Mutual Funds, P.O. Box 64387, St. Paul, MN 55164-0387.

Information on the aggregate remuneration paid to the directors of the Fund can be found in the Statement of Operations herein. The Fund pays a portion of the Chief Compliance Officer’s compensation, but does not pay salaries or compensation to any of its officers or directors who are employed by The Hartford.

Non-Interested Directors

Lynn S. Birdsong (1946) Director since 2003, Co-Chairman of the Investment Committee

Mr. Birdsong is a private investor. Since 1981, Mr. Birdsong has been a partner in Birdsong Company, an advertising specialty firm. Since 2003, Mr. Birdsong has been an independent director of The Japan Fund. From 2003 to March 2005, Mr. Birdsong was an independent director of the Atlantic Whitehall Funds. From 1979 to 2002, Mr. Birdsong was a managing director of Zurich Scudder Investments, an investment management firm. During his employment with Scudder, Mr. Birdsong was an interested director of The Japan Fund.

Robert M. Gavin, Jr. (1940) Director since 2002 (MF) and 1986 (MF2), Chairman of the Board since 2004

Dr. Gavin is an educational consultant. Prior to September 1, 2001, he was President of Cranbrook Education Community and prior to July 1996, he was President of Macalester College, St. Paul, Minnesota.

Duane E. Hill (1945) Director since 2001 (MF) and 2002 (MF2), Chairman of the Nominating Committee

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

Sandra S. Jaffee (1941) Director since 2005

Ms. Jaffee is Chairman and Chief Executive Officer of Fortent (formerly Searchspace Group), a leading provider of compliance/regulatory technology to financial institutions. Ms. Jaffee served as an Entrepreneur in Residence with Warburg Pincus, a private equity firm, from August 2004 to August 2005. From September 1995 to July 2004, Ms. Jaffee served as Executive Vice President at Citigroup, where she was President and Chief Executive Officer of Citibank’s Global Securities Services (1995-2003).

William P. Johnston (1944) Director since 2005, Chairman of the Compliance Committee

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

17

The Hartford Checks and Balances Fund
Directors and Officers (Unaudited) — (continued)

Phillip O. Peterson (1944) Director since 2002 (MF) and 2000 (MF2), Chairman of the Audit Committee

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

Lemma W. Senbet (1946) Director since 2005

Dr. Senbet is the William E. Mayer Chair Professor of Finance at the University of Maryland, Robert H. Smith School of Business. He was chair of the Finance Department during 1998-2006. Previously he was an endowed professor of finance at the University of Wisconsin-Madison. Also, he was director of the Fortis Funds from March 2000-July 2002. Dr. Senbet served the finance profession in various capacities, including as director of the American Finance Association and President of the Western Finance Association. In 2006, Dr. Senbet was inducted Fellow of Financial Management Association International for his career-long distinguished scholarship and professional service.

Interested Directors and Officers

Thomas M. Marra* (1958) Director since 2002

Mr. Marra has served as President and Chief Operating Officer of The Hartford Financial Services Group, Inc. (“The Hartford”) since 2007. Mr. Marra currently serves as Director of Hartford Life, Inc. (“HL, Inc.”). Mr. Marra served as Chief Operating Officer of Hartford Life Insurance Company, Inc. (“Hartford Life”) (2000-2008), as President of Hartford Life (2002-2008) and as Director of Hartford Life’s Investment Products Division from 1998 to 2000.

* On February 24, 2009, The Hartford and Mr. Marra determined to enter into a mutually agreed separation whereby Mr. Marra will retire, and his role as an executive officer and employee of The Hartford will terminate, effective July 3, 2009. Mr. Marra will resign his position as a Director of the Fund effective June 25, 2009.

Lowndes A. Smith (1939) Director since 2002, Co-Chairman of the Investment Committee

Mr. Smith served as Vice Chairman of The Hartford from February 1997 to January 2002, as President and Chief Executive Officer of Hartford Life, Inc. from February 1997 to January 2002, and as President and Chief Operating Officer of The Hartford Life Insurance Companies from January 1989 to January 2002. Mr. Smith serves as a Director of White Mountains Insurance Group, Ltd., One Beacon Insurance, Symetra Financial and as a Managing Director of Whittington Gray Associates.

John C. Walters* (1962) Director since 2008

Mr. Walters currently serves as Chief Executive Officer, President and Director of HL, Inc. Mr. Walters previously served as President of the U.S. Wealth Management Division of Hartford Life, Inc., as Co-Chief Operating Officer of Hartford Life Insurance Company (2007-2008) and as Executive Vice President and Director of its Investment Products Division (2000-2008). Mr. Walters also serves as Chairman of the Board, Chief Executive Officer, President and Director of Hartford Life Insurance Company and as Executive Vice President of The Hartford. In addition, Mr. Walters is Manager of HL Investment Advisors, LLC (“HL Advisors”).

* Mr. Walters previously served as President and Chief Executive Officer of the Fund (2007 - 2009).

Other Officers

Robert M. Arena, Jr. (1968) President and Chief Executive Officer since 2009 (served as Vice President of the Fund (2006 - 2009))

Mr. Arena serves as Executive Vice President of Hartford Life Insurance Company, (“Hartford Life”). Additionally, Mr. Arena is Director and Senior Vice President of Hartford Administrative Services Company, (“HASCO”), Manager, Chief Executive Officer and President of Hartford Investment Financial Services, LLC (“HIFSCO”) and HL Advisors. Prior to joining The Hartford in 2004, he was Senior Vice President in charge of Product Management for American Skandia/Prudential in the individual annuities division. Mr. Arena joined American Skandia in 1996.

Tamara L. Fagely (1958) Vice President, Treasurer and Controller since 2002 (MF) 1993 (MF2)

Ms. Fagely has been a Vice President of HASCO since 1998 and Chief Financial Officer since 2006. Currently Ms. Fagely is a Vice President of Hartford Life. She served as Assistant Vice President of Hartford Life from December 2001 through March 2005. In addition, Ms. Fagely is Controller and Chief Financial Officer of HIFSCO.

18

Brian Ferrell (1962) AML Compliance Officer since 2008

Mr. Ferrell has served as Assistant Vice President and AML Compliance Officer for The Hartford since 2006 and as AML Compliance Officer for HASCO and Hartford Investor Services Company, LLC (“HISC”) since 2008. Prior to joining The Hartford in 2006, Mr. Ferrell held various positions at the U.S. Department of the Treasury, (the “Treasury”), from 2001 to 2006 where he served as Chief Counsel for the Treasury’s Financial Crimes Enforcement Network, (“FinCEN”) from 2005 - 2006.

Thomas D. Jones, III (1965) Vice President and Chief Compliance Officer since 2006

Mr. Jones serves as Chief Compliance Officer for the Hartford Mutual Funds and Vice President and Director of Securities Compliance for The Hartford. He is also Vice President of HIFSCO, HL Advisors, and Hartford Life Insurance Company. Mr. Jones joined The Hartford in 2006 from SEI Investments, where he served as Chief Compliance Officer for its mutual funds and investment advisers. Prior to joining SEI, Mr. Jones was First Vice President and Compliance Director for Merrill Lynch Investment Managers (Americas) (“MLIM”), where he worked from 1992-2004. At MLIM, Mr. Jones was responsible for the compliance oversight of various investment products, including mutual funds, wrap accounts, institutional accounts and alternative investments.

Edward P. Macdonald (1967) Vice President, Secretary and Chief Legal Officer since 2005

Mr. Macdonald serves as Assistant General Counsel and Assistant Vice President of The Hartford and Chief Legal Officer and Vice President of HIFSCO. He also serves as Vice President and Secretary of HASCO, Assistant Vice President of Hartford Life, and Chief Legal Officer, Secretary and Vice President of HL Advisors. Prior to joining The Hartford in 2005, Mr. Macdonald was Chief Counsel, Investment Management for Prudential Financial (formerly American Skandia Investment Services, Inc.). He joined Prudential in April 1999.

Vernon J. Meyer (1964) Vice President since 2006

Mr. Meyer serves as Senior Vice President of Hartford Life and as Director of its Investment Advisory Group in the Individual Markets Group segment. He also serves as Senior Vice President of HIFSCO and HL Advisors. Prior to joining The Hartford in 2004, Mr. Meyer was with MassMutual which he joined in 1987.

D. Keith Sloane (1960) Vice President since 2009

Mr. Sloane is a Senior Vice President of Hartford Life where he serves as Director of mutual fund product management for The Hartford’s mutual funds and 529 college savings businesses. Additionally, Mr. Sloane currently serves as Senior Vice President of HIFSCO, HL Advisors, and HASCO. Prior to joining The Hartford in 2007, Mr. Sloane was Director of product marketing and led the mutual fund business for Wachovia Securities (“Wachovia”) in their investment products group. Mr. Sloane joined Wachovia in 1995.

Jane Wolak (1961) Vice President since 2009

Ms. Wolak currently serves as Vice President of Hartford Life. Ms. Wolak joined Hartford Life as Vice President, Retail Product Services in May 2007. She is also Vice President of HASCO. Previously, Ms. Wolak was with Sun Life Financial where she held the position of Vice President, Service Center Operations from 2001 - 2007.

HOW TO OBTAIN A COPY OF THE FUND’S PROXY VOTING POLICIES AND VOTING RECORDS

A description of the policies and procedures that the Fund uses to determine how to vote proxies relating to portfolio securities and a record of how the Fund voted any proxies for the twelve-month period ended June 30, 2008 is available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov.

QUARTERLY PORTFOLIO HOLDINGS INFORMATION

The Fund files a complete schedule of portfolio holdings with the Commission for the first and third quarters of each fiscal year on Form N-Q. The Fund’s Forms are available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov. The Form N-Q may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330.

19

The Hartford Checks and Balances Fund

Expense Example (Unaudited)

Your Fund’s Expenses

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments and contingent deferred sales charges (CDSC) (2) ongoing costs including management fees; distribution fees; and other fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the period of October 31, 2008 through April 30, 2009.

Actual Expenses

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

Hypothetical Example for Comparison Purposes

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

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads) and CDSC. Therefore, the second line 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 are equal to the Fund’s annualized expense ratios multiplied by average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

	Actual return						Hypothetical (5% return before expenses)
					Expenses paid						Expenses paid					Days in
					during the period						during the period					the		Days
	Beginning		Ending Account		October 31, 2008		Beginning		Ending Account		October 31,		Annualized			current		in the
	Account Value		Value		through		Account Value		Value		2008 through		expense			1/2		full
	October 31, 2008		April 30, 2009		April 30, 2009		October 31, 2008		April 30, 2009		April 30, 2009		ratio			year		year
Class A	$	1,000.00	$	1,002.23	$	2.23	$	1,000.00	$	1,022.56	$	2.25		0.45	%		181		365
Class B	$	1,000.00	$	998.57	$	6.14	$	1,000.00	$	1,018.64	$	6.20		1.24			181		365
Class C	$	1,000.00	$	999.87	$	5.99	$	1,000.00	$	1,018.79	$	6.05		1.21			181		365
Class I	$	1,000.00	$	1,003.71	$	0.79	$	1,000.00	$	1,024.00	$	0.80		0.16			181		365
Class R3	$	1,000.00	$	1,002.26	$	3.82	$	1,000.00	$	1,020.97	$	3.85		0.77			181		365
Class R4	$	1,000.00	$	1,002.11	$	2.28	$	1,000.00	$	1,022.51	$	2.30		0.46			181		365
Class R5	$	1,000.00	$	1,003.59	$	0.74	$	1,000.00	$	1,024.05	$	0.75		0.15			181		365

20

The Hartford Conservative Allocation Fund

Table of Contents

Manager Discussions (Unaudited)	2
Financial Statements
Schedule of Investments at April 30, 2009 (Unaudited)	4
Statement of Assets and Liabilities at April 30, 2009 (Unaudited)	5
Statement of Operations for the Six Month Period Ended April 30, 2009 (Unaudited)	6
Statement of Changes in Net Assets for the Six Month Period Ended April 30, 2009 (Unaudited) and the Year Ended October 31, 2008	7
Notes to Financial Statements (Unaudited)	8
Financial Highlights (Unaudited)	18
Directors and Officers (Unaudited)	19
How to Obtain a Copy of the Fund’s Proxy Voting Policies and Proxy Voting Records (Unaudited)	21
Quarterly Portfolio Holdings Information (Unaudited)	21
Expense Example (Unaudited)	22

The Hartford Conservative Allocation Fund
(subadvised by Hartford Investment Management Company)

Performance Overview(1) 5/28/04 — 4/30/09
Growth of a $10,000 investment in Class A which includes Sales Charge

Barclays Capital U.S. Aggregate Bond Index is an unmanaged index and is composed of securities from the Barclays Capital Government/Credit Bond Index, Mortgage-Backed Securities Index, Asset-Backed Securities Index and Commercial Mortgage-Backed Securities Index.

S&P 500 Index is a market capitalization weighted price index composed of 500 widely held common stocks.

You cannot invest directly in an index.

The value of shares will fluctuate so that, when redeemed, shares may be worth more or less than their original cost. The chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.

Investment objective — Seeks current income and long-term capital appreciation.

Average Annual Total Returns(2,3,4) (as of 4/30/09)

	Inception		1			Since
	Date		Year			Inception
Conservative Allocation A#		5/28/04		-18.67	%		0.69	%
Conservative Allocation A##		5/28/04		-23.15	%		-0.46	%
Conservative Allocation B#		5/28/04		-19.29	%		0.00	%
Conservative Allocation B##		5/28/04		-23.22	%		-0.34	%
Conservative Allocation C#		5/28/04		-19.24	%		0.00	%
Conservative Allocation C##		5/28/04		-20.03	%		0.00	%
Conservative Allocation I#		5/28/04		-18.44	%		0.84	%
Conservative Allocation R3#		5/28/04		-18.92	%		0.49	%
Conservative Allocation R4#		5/28/04		-18.73	%		0.66	%
Conservative Allocation R5#		5/28/04		-18.46	%		0.80	%

#	Without sales charge
##	With sales charge
NA	Not Applicable

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)	Growth of a $10,000 investment in Classes B, C, I, R3, R4 and R5 shares will vary from results seen above due to differences in the expenses charged to these classes.
(2)	Class I shares commenced operations on 8/31/06. Performance prior to 8/31/06 reflects Class A performance. Class R3, R4 and R5 shares commenced operations on 12/22/06. Performance prior to 12/22/06 reflects Class A performance.
(3)	The initial investment in Class A shares reflects the maximum sales charge and Classes B and C reflect CDSC.
(4)	Total returns presented above were calculated using the Fund’s net asset value available to shareholders for sale or redemption of Fund shares on April 30, 2009, which excludes investment transactions as of this date.

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

Portfolio Managers
Hugh Whelan, CFA	Edward C. Caputo, CFA
Managing Director	Vice President

How did the Fund perform?

The Class A shares of The Hartford Conservative Allocation Fund returned 2.30%, before sales charge, for the six-month period ended April 30, 2009. In comparison, its benchmarks, the S&P 500 Index and the Barclays Capital U.S. Aggregate Bond Index, returned -8.53% and 7.74%, respectively, while the average return for the Lipper Mixed-Asset Target Allocation Conservative Funds category, a group of funds with investment strategies similar to those of the Fund, was 1.54%.

Why did the Fund perform this way?

The U.S. recession continued to deepen during the six-month period under review. Rising unemployment weighed on personal income and spending, while first quarter industrial production posted the steepest quarterly decline in more than 30 years. However, as the six-month period drew to a close, there were some signs that perhaps the rate of economic decline was beginning to slow. Financial conditions stabilized a bit, while the Fed’s purchases of long-term Treasuries and mortgage-backed securities also provided strong support for the mortgage market, driving fixed mortgage rates lower. Generally, the Fund’s target asset allocation is set at approximately 40% equities and 60% fixed-income.

This environment initially created another difficult period for stocks, with the S&P 500 Index closing at a new low of 676.53 on March 9, down -29.30% since the start of the 6-month period. However, emergent signs of a slowdown in the economy’s free-fall helped lift the index through the remainder of the period, leaving it down “only” -8.53% for the period.

2

The index was in the black in March and April, gaining 8.76% and 9.57%, respectively, for a gain of 29.38% from March 9 through the end of the period. Declines were widespread across most equity asset classes during the six-month period. Among the eleven equity asset classes in our investment universe, emerging market stocks, EAFE small cap stocks, and U.S. midcap growth stock indices posted positive returns over the 6-month period. U.S. Real-Estate Investment Trusts (REITS) led the way lower during the period, while growth stocks continued to outperform value stocks across all market capitalization levels. International stocks outperformed U.S. stocks.

In fixed income, five and ten year Treasury yields increased during the 6-month period. Within the major sectors of the Barclays Capital U.S. Aggregate Index, investment grade credit was the top performer at 11.47%, while commercial mortgage-backed securities (CMBS) were the weakest performers at 1.32%. In the high yield asset classes, high yield bonds and emerging markets debt both outperformed the Barclays Capital U.S. Aggregate Index, while floating rate notes did not. In addition, Treasury Inflation-Protection Securities (TIPS) were the best performing investment grade asset class in our investment universe, at 9.46%.

There are two main drivers of the Fund’s performance: asset allocation among various asset classes and performance of the underlying funds. With regard to asset allocation, the Fund maintains relatively fixed exposures to the equity and fixed income markets. Therefore, we seek to add value by strategically allocating within the equity and fixed income investment sub asset classes. Our asset allocation decisions detracted from the Fund’s overall performance during the period.

Concerning the Fund’s equity exposure, favorable allocations to emerging market stocks and international small cap stocks helped offset unfavorable allocations to U.S. stocks. By design, the Fund also maintains exposure to various fixed income asset classes to deliver a well diversified portfolio solution. Favorable allocations to TIPS failed to offset the impact of unfavorable allocations to floating rate notes. Based on the risk preferences of the Fund’s mandate, the portfolio’s duration (a measure of a bond’s sensitivity to changes in interest rates) is targeted to be less than the Barclay’s Capital U.S. Aggregate Index. The shorter duration positioning detracted from the Fund’s performance over the period.

Beyond the asset allocation decision, we also seek to add value by selecting the underlying mutual funds that will most effectively deliver the target asset class exposures. We analyze all of the funds in our investment universe, looking through each fund’s objective and stated benchmark to see what it actually holds and how it really behaves. During the period, underlying fund selection detracted from our overall performance.

During the period, the Fund continued to utilize Exchange-Traded Funds (ETFs) to obtain asset class exposures otherwise unavailable through The Hartford family of funds. Specifically, the Fund has target allocations to ETFs that provide U.S. real estate and international real estate exposure, as well as emerging market debt exposure.

Whenever possible, we rely on cash flows to execute our allocation changes. However, a hard rebalance (i.e. a fund rebalancing to move the underlying fund investments to their target allocation percentages) was required during the first quarter of 2009 to bring the fund allocations closer to their targets.

What is the outlook?

In fixed income, risk premiums (the additional compensation paid to investors to tolerate the increased level of risk in a given asset class relative to Treasuries) across most asset classes reversed course and began to contract as conditions improved and volatility declined. An onslaught of government policy, from fiscal stimulus to quantitative easing, was the primary catalyst and buyers of historically inexpensive corporate debt emerged as more market participants recognized relative value versus equities. Although risk premiums have come off their historical peak, spreads remain significantly wider (i.e. short and long term interest rates farther apart) than in prior recessions.

In equities the earnings picture is cloudy. First, earnings are falling at near record-breaking rates and all indications are that they will continue to fall. Second, the quality and reliability of the earnings reported is lower than historical standards as the gap between pro forma (“street”) earnings and GAAP (Generally Accepted Accounting Principles) earnings rose in the past several months. Third, there is little clarity in future earnings prospects as the disparity among analyst estimates for future earnings remains at elevated levels. Historically, such consensus building was a precondition to the final, sustained recovery from bear markets associated with recessions.

We believe that investors are well served by adhering to a strategic, diversified portfolio and rebalancing accordingly. We construct these portfolios based upon the long-term properties of asset classes. We look at their long-term returns, volatilities, and correlations between each other and run optimizations to build an optimal portfolio.

Composition by Underlying Fund
as of April 30, 2009

	Percentage of Net
Fund Name	Assets
Powershares Emerging Markets Sovereign Debt Portfolio ETF		0.3	%
SPDR DJ Wilshire International Real Estate ETF		0.4
SPDR DJ Wilshire REIT ETF		0.6
State Street Bank Money Market Fund		0.0
The Hartford Capital Appreciation Fund, Class Y		10.7
The Hartford Capital Appreciation II Fund, Class Y		2.9
The Hartford Disciplined Equity Fund, Class Y		5.8
The Hartford Dividend and Growth Fund, Class Y		1.7
The Hartford Equity Income Fund, Class Y		2.8
The Hartford Floating Rate Fund, Class Y		7.9
The Hartford Fundamental Growth Fund, Class Y		0.6
The Hartford Global Growth Fund, Class Y		2.9
The Hartford Growth Opportunities Fund, Class Y		2.0
The Hartford High Yield Fund, Class Y		5.1
The Hartford Income Fund, Class Y		10.0
The Hartford Inflation Plus Fund, Class Y		9.4
The Hartford International Opportunities Fund, Class Y		3.5
The Hartford International Small Company Fund, Class Y		1.9
The Hartford Select MidCap Value Fund, Class Y		0.7
The Hartford Select SmallCap Value Fund, Class Y		1.0
The Hartford Short Duration Fund, Class Y		10.2
The Hartford Strategic Income Fund, Class Y		3.6
The Hartford Total Return Bond Fund, Class Y		11.5
The Hartford Value Fund, Class Y		4.2
Other Assets and Liabilities		0.3
Total		100.0	%

3

The Hartford Conservative Allocation Fund

Schedule of Investments

April 30, 2009 (Unaudited)

(000’s Omitted)

Shares or Principal Amount					Market Value ╪
AFFILIATED INVESTMENT COMPANIES — 98.4%
EQUITY FUNDS — 40.7%
	786	The Hartford Capital Appreciation Fund, Class Y			$	19,424
	586	The Hartford Capital Appreciation II Fund, Class Y •				5,240
	1,162	The Hartford Disciplined Equity Fund, Class Y				10,541
	218	The Hartford Dividend and Growth Fund, Class Y				2,984
	556	The Hartford Equity Income Fund, Class Y				5,024
	146	The Hartford Fundamental Growth Fund, Class Y •				1,122
	477	The Hartford Global Growth Fund, Class Y •				5,223
	198	The Hartford Growth Opportunities Fund, Class Y •				3,562
	627	The Hartford International Opportunities Fund, Class Y				6,361
	448	The Hartford International Small Company Fund, Class Y				3,503
	193	The Hartford Select MidCap Value Fund, Class Y				1,213
	267	The Hartford Select SmallCap Value Fund, Class Y				1,773
	933	The Hartford Value Fund, Class Y				7,519
		Total equity funds (cost $94,937)			$	73,489
FIXED INCOME FUNDS — 57.7%
	1,964	The Hartford Floating Rate Fund, Class Y			$	14,297
	1,620	The Hartford High Yield Fund, Class Y				9,252
	2,101	The Hartford Income Fund, Class Y				18,023
	1,591	The Hartford Inflation Plus Fund, Class Y				17,036
	2,019	The Hartford Short Duration Fund, Class Y				18,410
	855	The Hartford Strategic Income Fund, Class Y				6,599
	2,162	The Hartford Total Return Bond Fund, Class Y				20,779
		Total fixed income funds (cost $115,232)			$	104,396
		Total investments in affiliated investment companies (cost $210,169)			$	177,885
EXCHANGE TRADED FUNDS — 1.3%
	22	Powershares Emerging Markets Sovereign Debt Portfolio ETF			$	498
	26	SPDR DJ Wilshire International Real Estate ETF				656
	33	SPDR DJ Wilshire REIT ETF				1,150
		Total exchange traded funds (cost $2,577)			$	2,304
		Total long-term investments (cost $212,746)			$	180,189
SHORT-TERM INVESTMENTS — 0.0%
	3	State Street Bank Money Market Fund			$	3
		Total short-term investments (cost $3)	��		$	3
		Total investments (cost $212,749) 5	99.7	%	$	180,192
		Other assets and liabilities	0.3	%		560
		Total net assets	100.0	%	$	180,752

Note:	Percentage of investments as shown is the ratio of the total market value to total net assets.
5	At April 30, 2009, the cost of securities for federal income tax purposes was $213,671 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	1,304
Unrealized Depreciation		(34,783	)
Net Unrealized Depreciation	$	(33,479	)

•	Currently non-income producing.
╪	See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of securities.

FAS 157 Disclosure of Investment Valuation Hierarchy Levels

Assets:
Investment in securities — Level 1	$	180,192
Total	$	180,192

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

4

The Hartford Conservative Allocation Fund

Statement of Assets and Liabilities

April 30, 2009 (Unaudited)

(000’s Omitted)

Assets:
Investments in securities, at fair value (cost $2,580)	$	2,307
Investments in underlying affiliated funds, at fair value (cost $210,169)		177,885
Receivables:
Fund shares sold		553
Dividends and interest		370
Other assets		96
Total assets		181,211
Liabilities:
Payables:
Investment securities purchased		166
Fund shares redeemed		234
Investment management fees		5
Distribution fees		14
Accrued expenses		40
Total liabilities		459
Net assets	$	180,752
Summary of Net Assets:
Capital stock and paid-in-capital		231,924
Accumulated undistributed net investment income		285
Accumulated net realized loss on investments		(18,900	)
Unrealized depreciation of investments		(32,557	)
Net assets	$	180,752
Shares authorized		400,000
Par value	$	0.001
Class A: Net asset value per share/Maximum offering price per share	$	8.32/$8.80
Shares outstanding		13,372
Net assets	$	111,289
Class B: Net asset value per share	$	8.32
Shares outstanding		2,496
Net assets	$	20,771
Class C: Net asset value per share	$	8.31
Shares outstanding		4,578
Net assets	$	38,063
Class I: Net asset value per share	$	8.31
Shares outstanding		43
Net assets	$	355
Class R3: Net asset value per share	$	8.37
Shares outstanding		23
Net assets	$	189
Class R4: Net asset value per share	$	8.31
Shares outstanding		798
Net assets	$	6,630
Class R5: Net asset value per share	$	8.32
Shares outstanding		415
Net assets	$	3,455

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

5

The Hartford Conservative Allocation Fund

Statement of Operations

For the Six Month Period Ended April 30, 2009 (Unaudited)

(000’s Omitted)

Investment Income:
Dividends	$	42
Dividends from underlying affiliated funds		3,713
Total investment income		3,755
Expenses:
Investment management fees		126
Transfer agent fees		107
Distribution fees
Class A		129
Class B		97
Class C		182
Class R3		—
Class R4		7
Custodian fees		1
Accounting services		10
Registration and filing fees		47
Board of Directors’ fees		2
Audit fees		4
Other expenses		37
Total expenses (before waivers)		749
Expense waivers		(14	)
Total waivers		(14	)
Total expenses, net		735
Net investment income		3,020
Net Realized Loss on Investments:
Net realized loss on investments in underlying affiliated funds		(9,662	)
Net Realized Loss on Investments		(9,662	)
Net Changes in Unrealized Appreciation of Investments:
Net unrealized appreciation of investments		10,269
Net Changes in Unrealized Appreciation of Investments		10,269
Net Gain on Investments		607
Net Increase in Net Assets Resulting from Operations	$	3,627

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

6

The Hartford Conservative Allocation Fund

Statement of Changes in Net Assets

(000’s Omitted)

	For the Six-Month
	Period Ended			For the
	April 30, 2009			Year Ended
	(Unaudited)			October 31, 2008
Operations:
Net investment income	$	3,020		$	5,728
Net realized loss on investments		(9,662	)		(5,242	)
Net unrealized appreciation (depreciation) of investments		10,269			(53,423	)
Net increase (decrease) in net assets resulting from operations		3,627			(52,937	)
Distributions to Shareholders:
From net investment income
Class A		(2,081	)		(4,987	)
Class B		(315	)		(812	)
Class C		(603	)		(1,672	)
Class I		(8	)		(45	)
Class R3		(1	)		(5	)
Class R4		(116	)		(153	)
Class R5		(53	)		(58	)
From net realized gain on investments
Class A		—			(4,169	)
Class B		—			(882	)
Class C		—			(1,608	)
Class I		—			(57	)
Class R3		—			(1	)
Class R4		—			(21	)
Class R5		—			(21	)
Total distributions		(3,177	)		(14,491	)
Capital Share Transactions:
Class A		3,025	*		26,954
Class B		17	†		2,936
Class C		(1,963	) ‡		9,856
Class I		(61	)		(817	)
Class R3		(77	) §		324
Class R4		1,713	**		6,057
Class R5		1,285	††		2,011
Net increase from capital share transactions		3,939			47,321
Net increase (decrease) in net assets		4,389			(20,107	)
Net Assets:
Beginning of period		176,363			196,470
End of period	$	180,752		$	176,363
Accumulated undistributed (distribution in excess of) net investment income (loss)	$	285		$	442

*	Includes merger activity in the amount of $2,213.
†	Includes merger activity in the amount of $290.
‡	Includes merger activity in the amount of $788.
§	Includes merger activity in the amount of $38.
**	Includes merger activity in the amount of $418.
††	Includes merger activity in the amount of $91.

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

7

The Hartford Conservative Allocation Fund

Notes to Financial Statements

April 30, 2009 (Unaudited)

(000’s Omitted)

1.	Organization:
	The Hartford Mutual Funds, Inc. (“Company”) is an open-end management investment company comprised of fifty-two portfolios. Financial statements for The Hartford Conservative Allocation Fund (the “Fund”), a series of the Company, are included in this report.
	The Company is organized under the laws of the State of Maryland and is registered with the Securities and Exchange Commission (“SEC”) under the Investment Company Act of 1940, as amended (“1940 Act”). The Fund is a diversified open-end management investment company.
	Class A shares are sold with a front-end sales charge of up to 5.50%. Class B shares are sold with a contingent deferred sales charge which is assessed on the lesser of the per share net asset value (“NAV”) of the shares at the time of redemption or the original purchase price, and declines from up to 5.00% to zero depending on the period of time the shares are held. Class C shares are sold with a contingent deferred sales charge of up to 1.00% on shares redeemed within twelve months of purchase. Class I shares are sold without sales charges to certain eligible investors through advisory fee-based wrap programs. Classes R3, R4, R5 shares, which are offered to employer-sponsored retirement plans, are sold without a sales charge. All classes of shares have identical voting, redemption, dividend, liquidation and other rights and the same terms and conditions, with the exceptions that each class may have different expenses, which may affect performance, and except that Class B shares automatically convert to Class A shares after 8 years.
	The Fund, as a “Fund of Funds”, invests the majority of its assets in Class Y shares of other Hartford mutual funds (“Underlying Funds”) as well as certain exchange-traded funds (“ETFs”). The Fund seeks its investment goals through implementation of a strategic asset allocation recommendation provided by Hartford Investment Management Company (“Hartford Investment Management”), a wholly-owned indirect subsidiary of The Hartford Financial Services Group, Inc. (“The Hartford”).
	Effective at the close of business on September 30, 2009 (the “Close Date”), no new or additional investments will be allowed in Class B shares of The Hartford Mutual Funds (including investments through any systematic investment plan). After the Close Date, existing shareholders of Class B shares may continue to hold their Class B shares, exchange their Class B shares for Class B shares of another Hartford Mutual Fund (as permitted by existing exchange privileges), and redeem their Class B shares as described in the Fund’s prospectus. Reinstatement privileges with respect to Class B shares will continue under the current policy. If you have chosen to reinvest capital gains and dividends, any such capital gains or dividends on Class B shares will continue to be reinvested in Class B shares of the Fund. For Class B shares outstanding as of the Close Date, all Class B share attributes, including the 12b-1 fee, contingent deferred sales charge schedule, and conversion to Class A shares remain unchanged.
2.	Significant Accounting Policies:
	The accounting policies of the affiliated underlying funds are outlined in the shareholder reports for such funds, available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov. The reports may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330. The affiliated Underlying Funds are not covered by this report.
	The following is a summary of significant accounting policies of the Fund, which are in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”).

a) Security Transactions and Investment Income — Security transactions are recorded on the trade date (the date the order to buy or sell is executed). Security gains and losses are determined on the basis of identified cost.

8

	Dividend income is accrued as of the ex-dividend date. Income and capital gain distributions from Underlying Funds are recorded on the ex-dividend date.
b)	Security Valuation — Investments in open-end mutual funds are valued at the respective NAV of each open-end mutual fund on the valuation date.
	The Fund generally uses market prices in valuing portfolio securities. If market prices are not readily available or are deemed unreliable, the Fund will use the fair value of the security as determined in good faith under policies and procedures established by and under the supervision of the Fund’s Board of Directors. Market prices may be deemed unreliable, for example, if a security is thinly traded or if an event has occurred after the close of the security’s primary markets, but before the close of the New York Stock Exchange (the “Exchange”) (normally 4:00 p.m. Eastern Time, referred to as the “Valuation Time”) that is expected to affect the value of the portfolio security. The circumstances in which the Fund may use fair value pricing include, among others: (i) the occurrence of events that are significant to a particular issuer, such as mergers, restructuring or defaults; (ii) the occurrence of events that are significant to an entire market, such as natural disasters in a particular region or governmental actions; (iii) trading restrictions on securities; (iv) thinly traded securities and (v) market events such as trading halts and early market closings. In addition, with respect to the valuation of stocks primarily traded on foreign markets, the Fund uses a fair value pricing service approved by the Fund’s Board of Directors, which employs quantitative models that evaluate changes in the value of foreign market proxies (e.g., futures contracts, ADR’s, exchange traded funds (“ETF’s”)) after the close of the foreign markets but before the close of the Exchange. Securities that are primarily traded on foreign markets may trade on days that are not business days of the Fund. The value of the foreign securities in which the Fund invests may change on days when a shareholder will not be able to purchase or redeem shares of the Fund. Fair value pricing is subjective in nature and the use of fair value pricing by the Fund may cause the NAV of its shares to differ significantly from the NAV that would have been calculated using market prices at the close of the exchange on which a portfolio security is primarily traded but before the close of the Exchange. There can be no assurance that the Fund could obtain the fair value assigned to a security if the Fund were to sell the security at approximately the time at which the Fund determines its NAV.
	Debt securities (other than short-term obligations and senior floating rate interests) held by the Fund are valued on the basis of valuations furnished by an independent pricing service which determines valuations for normal institutional size trading units of debt securities. Senior floating rate interests generally trade in over-the-counter markets and are priced through an independent pricing service utilizing independent market quotations from loan dealers or financial institutions. Securities for which prices are not available from an independent pricing service are valued using market quotations obtained from one or more dealers that make markets in the securities in accordance with procedures established by the Fund’s Board of Directors. Generally, the Fund may use fair valuation in regard to debt securities when the Fund holds defaulted or distressed securities or securities in a company in which a reorganization is pending. Short-term investments with a maturity of more than 60 days when purchased are valued based on market quotations until the remaining days to maturity become less than 61 days. Investments that mature in 60 days or less are valued at amortized cost, which approximates market value.
	Exchange traded equity securities shall be valued at the last reported sale price on the exchange or market on which the security is primarily traded (the “Primary Market”) at the Valuation Time. If the security did not trade on the Primary Market, it may be valued at the Valuation Time at the last reported sale price on another exchange where it trades. The value of an equity security not traded on any exchange but traded on the Nasdaq Stock Market, Inc. (“Nasdaq”) or another over-the-counter market shall be valued at the last reported sale price or official closing price on the exchange or market on which the security is traded as of the Valuation Time. If it is not possible to determine the last reported sale price or official closing price on the relevant exchange or market at the Valuation Time, the value of the security shall be taken to be the most recent mean between bid and asked prices on such exchange or market at the Valuation Time.
	Securities of foreign issuers and non-dollar securities are translated from the local currency into U.S. dollars using prevailing exchange rates.

9

The Hartford Conservative Allocation Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

	Options contracts on securities, currencies, indexes, futures contracts, commodities and other instruments shall be valued at their most recent sales price at the Valuation Time on the Primary Market on which the instrument is primarily traded. If the instrument did not trade on the Primary Market, it may be valued at the most recent sales price at the Valuation Time on another exchange or market where it did trade.
	Futures contracts are valued at the most recent settlement price reported by an exchange on which, over time, they are traded most extensively. If a settlement price is not available, futures contracts will be valued at the most recent trade price as of the Valuation Time. If there were no trades, the contract shall be valued at the mean of the closing bid/ask prices as of the Valuation Time.
	Financial instruments for which prices are not available from an independent pricing service are valued using market quotations obtained from one or more dealers that make markets in securities in accordance with procedures established by the Fund’s Board of Directors.
	A forward currency contract shall be valued based on the price of the underlying currency at the prevailing interpolated exchange rate, which is a combination of the spot currency rate and the forward currency rate. Spot currency rates and forward currency rates are obtained from an independent pricing service on a daily basis not more than one hour before the Valuation Time.
	Swaps are valued based on custom valuations furnished by an independent pricing service. Swaps for which prices are not available from an independent pricing service are valued in accordance with procedures established by the Fund’s Board of Directors.
	Other derivative or contractual type instruments shall be valued using market prices if such instruments trade on an exchange or market. If such instruments do not trade on an exchange or market, such instruments shall be valued at a price at which the counterparty to such contract would repurchase the instrument. In the event that the counterparty cannot provide a price, such valuation may be determined in accordance with procedures established by the Fund’s Board of Directors.
c)	Indexed Securities — The Fund may invest in indexed securities whose values are linked to changes in interest rates, indices, or other underlying instruments. The Fund uses these securities to increase or decrease its exposure to different underlying instruments and to gain exposure to markets that might be difficult to invest in using conventional securities. Indexed securities may be more volatile than their underlying instruments, but any loss is limited to the amount of the original investment and there may be a limit to the potential appreciation of the investment. The Fund had investments in indexed securities as of April 30, 2009, as shown on the Schedule of Investments under Exchange Traded Funds.
d)	Fund Share Valuation and Dividend Distributions to Shareholders — Orders for the Fund’s shares are executed in accordance with the investment instructions of the shareholders. The NAV of the Fund’s shares is determined as of the close of each business day of the Exchange. The NAV is determined separately for each class of the Fund by dividing the Fund’s net assets attributable to that class by the number of shares of the class outstanding. Orders for the purchase of the Fund’s shares prior to the close of the Exchange on any day on which the Exchange is open for business are priced at the NAV determined as of the close of the Exchange. Orders after the close of the Exchange, or on a day on which the Exchange and/or the Fund is not open for business, are priced at the next determined NAV.
	The Fund intends to distribute substantially all of its net investment income and net realized capital gains to shareholders no less frequently than once a year. Normally, dividends from net investment income of the Fund are declared and paid quarterly. Dividends are paid on shares beginning on the business day after the day when the funds used to purchase the shares are collected by the transfer agent for the Fund. Long-term capital gains distributions received from underlying funds are distributed at least annually, when required. Unless shareholders specify otherwise, all dividends and distributions will be automatically reinvested in additional full or fractional shares of the Fund.

10

	Distributions from net investment income, realized capital gains and capital are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP with respect to character and timing. These differences include but are not limited to foreign currency gains and losses, losses deferred due to wash sales adjustments, adjustments related to Passive Foreign Investment Companies and certain derivatives, and excise tax regulations. Permanent book and federal income tax basis differences relating to shareholder distributions will result in reclassifications to certain of the Fund’s capital accounts (see Federal Income Taxes: Reclassification of Capital Accounts footnote).
e)	Use of Estimates — The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and the reported amounts of income and expenses during the period. Operating results in the future could vary from the amounts derived from management’s estimates.
f)	Financial Accounting Standards Board Financial Accounting Standards No. 157 — Effective November 1, 2008, the Fund adopted Financial Accounting Standards Board (“FASB”) Statement of Financial Accounting Standards No. 157, “Fair Value Measurements” (“FAS 157”). This standard clarifies the definition of fair value for financial reporting, establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements. Fair value is defined under FAS 157 as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Under FAS 157, a fair value measurement should reflect all of the assumptions that market participants would use in pricing the asset or liability, including assumptions about the risk inherent in a particular valuation technique, the effect of a restriction on the sale or use of an asset, and the risk of nonperformance.
	Various inputs are used in determining the value of the Fund’s investment. These inputs are summarized, per FAS 157, into three broad hierarchy levels. This hierarchy is based on whether the valuation inputs are observable or unobservable. These levels are:

• Level 1 — Quoted prices in active markets for identical securities. Level 1 includes exchange-traded instruments such as domestic equities, some foreign equities, options, futures, mutual funds, ETF’s, and rights and warrants.

• Level 2 — Observable inputs other than Level 1 prices, such as quoted prices for similar securities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the security. Level 2 includes debt securities that are traded less frequently than exchange-traded instruments and that are valued using third party pricing services and foreign equities, whose value is determined using a multi-factor regression model with inputs that are observable in the market; and money market instruments, which are carried at amortized cost.

• Level 3 — Significant unobservable inputs that are supported by little or no market activity. Level 3 includes financial instruments whose values are determined using broker quotes and require significant management judgment or estimation. This category includes broker quoted securities, long dated OTC options and securities where trading has been halted or there are certain restrictions on trading. While these securities are priced using unobservable inputs, the valuation of these securities reflects the best available data and management believes the prices are a good representation of exit price.

Individual securities within any of the above mentioned asset classes may be assigned a different hierarchical level than those presented above, as individual circumstances dictate.

FAS 157 also requires that a roll forward reconciliation be shown for all Level 3 securities from the beginning of the reporting period to the end of the reporting period. Part of this reconciliation includes transfers in and/or out of Level 3. For purposes of this reconciliation, transfers in are shown at the end of period fair value and transfers out are shown at the beginning of period fair value. During the six-month period ended April 30, 2009, the Fund held no Level 3 securities.

11

The Hartford Conservative Allocation Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

	FASB Staff Position No. 157-4 — In April 2009, FASB released FASB Staff Position No. 157-4, “Determining Fair Value When the Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly” (“FSP FAS 157-4”). FSP FAS 157-4 provides additional guidance on determining whether a market for a financial asset is not active and a transaction is not distressed when measuring fair value under FAS 157. The FSP also requires additional disclosure detail on debt and equity securities by major investment categories. FSP FAS 157-4 is effective for interim and annual periods ending after June 15, 2009. At this time, management is evaluating the implications of FSP FAS 157-4 and does not believe it will impact valuation but will require additional disclosure. This additional disclosure has not yet been implemented.
g)	Financial Accounting Standards Board Financial Accounting Standards No. 161 — In March 2008, the FASB released Statement of Financial Accounting Standards No. 161, “Disclosures about Derivative Instruments and Hedging Activities” (“FAS 161”). FAS 161 requires companies to disclose information detailing the objectives and strategies for using derivative instruments, the level of derivative activity entered into by the company and any credit risk-related contingent features of the agreements. The application of FAS 161 is required for fiscal years and interim periods beginning after November 15, 2008. At this time, management is evaluating the implications of FAS 161 and has not yet implemented the new disclosure standard.
h)	Indemnifications: Under the Company’s organizational documents, the Company shall indemnify its officers and directors to the full extent required or permitted under Maryland General Corporation Law and the federal securities law. In addition, the Company, on behalf of the Fund, may enter into contracts that contain a variety of indemnifications. The Company’s maximum exposure under these arrangements is unknown. However, the Company has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote.

3. Federal Income Taxes:

a)

Federal Income Taxes — For federal income tax purposes, the Fund intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code (“IRC”) by distributing substantially all of its taxable net investment income and net realized capital gains to its shareholders and otherwise complying with the requirements of regulated investment companies. The Fund has distributed substantially all of its income and capital gains in prior years and the Fund intends to distribute substantially all of its income and gains during the calendar year ending December 31, 2009. Accordingly, no provision for federal income or excise taxes has been made in the accompanying financial statements. Distributions from short-term capital gains are treated as ordinary income distributions for federal income tax purposes.

b)

The tax character of distributions paid by the Fund for the periods indicated is as follows (as adjusted for dividends payable):

	For the Year Ended		For the Year Ended
	October 31, 2008		October 31, 2007
Ordinary Income	$	8,611	$	5,741
Long-Term Capital Gains *		5,880		3,535

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

As of October 31, 2008, the Fund’s components of distributable earnings (deficit) on a tax basis were as follows:

12

	Amount
Undistributed Ordinary Income	$	442
Accumulated Capital Losses*	$	(6,794	)
Unrealized Depreciation†	$	(43,142	)
Total Accumulated Deficit	$	(49,494	)

*	The Fund has capital loss carryforwards that are identified in the Capital Loss Carryforward note that follows.
†	The differences between book-basis and tax-basis unrealized appreciation (depreciation) are attributable to the tax deferral of wash sales losses, the mark-to-market adjustment for certain derivatives in accordance with IRC Sec. 1256, the mark to market for Passive Foreign Investment Companies and basis differences in real estate investment trusts.

c)

Reclassification of Capital Accounts — In accordance with American Institute of Certified Public Accountants (AICPA) Statement of Position 93-2, Determination, Disclosure, and Financial Statement Presentation of Income, Capital Gain, and Return of Capital Distributions by Investment Companies, the Fund has recorded reclassifications in its capital accounts. These reclassifications had no impact on the NAV of the Fund. The reclassifications are a result of permanent differences between GAAP and tax accounting for such items as net operating losses that reduce distribution requirements. Adjustments are made to reflect the impact these items have on current and future distributions to shareholders. Therefore, the source of the Fund’s distributions may be shown in the accompanying Statement of Changes in Net Assets as from net investment income, from net realized gains on investments or from capital depending on the type of book and tax differences that exist. As of October 31, 2008, the Fund recorded reclassifications to increase undistributed net investment income by $2,023 and decrease accumulated net realized loss by $2,023.

d)

Capital Loss Carryforward — At October 31, 2008 (tax-year-end), the Fund had capital loss carryforwards for U.S. federal income tax purposes of approximately:

Year	Amount
2016	$	6,794
Total	$	6,794

e) Financial Accounting Standards Board Interpretation No. 48 — On July 13, 2006, the FASB released FASB Interpretation No. 48 “Accounting for Uncertainty in Income Taxes” (“FIN 48”). FIN 48 provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. The Fund adopted FIN 48 for fiscal years beginning after December 15, 2006. Management has evaluated the implications of FIN 48 for all open tax years (tax years ended October 31, 2006 — 2008) and has determined there is no impact to the Fund’s financial statements.

4. Expenses:

a) Investment Management Agreements — Hartford Investment Financial Services, LLC (“HIFSCO”) serves as investment manager to the Fund pursuant to an Investment Management Agreement with The Hartford Mutual Funds, Inc. As investment manager, HIFSCO has overall investment supervisory responsibility for the Fund. In addition, HIFSCO provides administrative personnel, services, equipment, facilities and office space for proper operation of the Fund. HIFSCO has contracted with Hartford Investment Management for the provision of day-to-day investment management services to the Fund in accordance with the Fund’s investment objective and policies. The Fund pays a fee to HIFSCO, a portion of which may be used to compensate Hartford Investment Management.

13

The Hartford Conservative Allocation Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

The schedule below reflects the rates of compensation paid to HIFSCO for investment management services rendered during the six-month period ended April 30, 2009; the rates are accrued daily and paid monthly:

Average Daily Net Assets	Annual Fee
On first $500 million		0.15	%
On next $4.5 billion		0.10	%
On next $5 billion		0.08	%
Over $10 billion		0.07	%

b) Accounting Services Agreement — Pursuant to the Fund Accounting Agreement between Hartford Life Insurance Company (“HLIC”) and the Fund, HLIC provides accounting services to the Fund and receives monthly compensation on the Fund’s average net assets. The Fund’s accounting service fees are accrued daily and paid monthly.

Average Daily Net Assets	Annual Fee
On first $5 billion		0.012	%
Over $5 billion		0.010	%

c) Operating Expenses — Allocable expenses incurred by the Company are allocated to each Fund and allocated to classes within the Fund in proportion to the average daily net assets of the Fund and each class, except where allocation of certain expenses is more fairly made directly to the Fund or to specific classes within a Fund. During the six-month period ended April 30, 2009, HIFSCO has contractually limited the total operating expenses of this Fund, exclusive of taxes, interest expense, brokerage commissions, certain distribution expenses and extraordinary expenses as follows:

Class A	Class B	Class C	Class I	Class R3	Class R4	Class R5
1.35%	2.10%	2.10%	1.10%	1.78%	1.48%	1.18%

	Voluntary limitations for total operating expenses include expenses incurred as the result of investing in other investment companies. Amounts incurred which exceed the above limits are deducted from expenses and are reported as waivers on the accompanying Statement of Operations.
d)	Distribution and Service Plan for Class A, B, C, R3 and R4 Shares — HIFSCO is the principal underwriter and distributor of the Fund. HIFSCO is engaged in distribution activities, which include marketing and distribution of shares through broker-dealers, financing distribution costs and maintaining financial books and records. For the six-month period ended April 30, 2009, HIFSCO received front-end load sales charges of $444 and contingent deferred sales charges of $54 from the Fund.
	The Fund has adopted Distribution and Service Plans in accordance with Rule 12b-1 of the Investment Company Act of 1940, as amended, to compensate the distributor (HIFSCO) for activities intended to result in the sale and distribution of Classes A, B, C, R3 and R4 shares and for providing services for shareholders. The Rule 12b-1 plan applicable to Class A shares of the Funds provides for payment of a Rule 12b-1 fee of up to 0.35% of average daily net assets; however, the Board of Directors has currently authorized 12b-1 payments of only up to 0.25%. Some or all of the fee may be used for shareholder servicing expenses with the remainder used for distribution expenses. Some or the entire Rule 12b-1 fee for Class B shares may be remitted to broker-dealers for distribution and/or shareholder account services. Under the Class B Plan, the Fund pays the distributor 1.00% of the average daily net assets of Class B shares that are outstanding for 8 years or less, 0.25% of which is a fee for services provided to existing shareholders with the remainder used for distribution expenses. After eight years, Class B shares convert to Class A shares. Upon conversion to Class A shares, the Class A plan described above will apply to those shares. Under the Class C Plan, the Fund pays the distributor 1.00% of the average daily net assets of Class C shares outstanding, 0.25% of which is intended as a fee for services provided to existing shareholders with the remainder used for distribution expenses. For Class C shares, some or the entire fee may be remitted to broker-dealers for distribution and/or shareholder account services. Class R3 shares have a distribution fee of 0.50% and Class R4 shares have a distribution fee of 0.25%. For Classes R3 and R4 shares, some or the entire fee may

14

	be remitted to broker dealers for distribution and/or shareholder account services. The Fund’s 12b-1 fees are accrued daily and paid monthly.
	For the six-month period ended April 30, 2009, total sales commissions paid to affiliated brokers/dealers of The Hartford for distributing the Fund’s shares were $14. These commissions are in turn paid to sales representatives of the broker/dealers.
e)	Other Related Party Transactions — Certain officers of the Fund are directors and/or officers of HIFSCO and/or The Hartford or its subsidiaries. For the six-month period ended April 30, 2009, a portion of the Fund’s chief compliance officer’s salary was paid by the Fund in an amount, which rounds to zero. Hartford Administrative Services Company (“HASCO”), an indirect wholly owned subsidiary of The Hartford, provides transfer agent services to the Fund. HASCO was compensated $106 for providing such services. These fees are accrued daily and paid monthly.

5.	Affiliate Holdings:
	As of April 30, 2009, affiliates of The Hartford had ownership of shares in the Fund as follows:

	Shares
Class R3		1

6.	Investment Transactions:
	For the six-month period ended April 30, 2009, the Fund’s aggregate purchases and sales of investment securities (excluding short-term investments) were as follows:

	Amount
Cost of Purchases Excluding U.S. Government Obligations	$	33,262
Sales Proceeds Excluding U.S. Government Obligations		26,850

15

The Hartford Conservative Allocation Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

7. Capital Share Transactions:

The following information is for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	For the Six-Month Period Ended April 30, 2009												For the Year Ended October 31, 2008
			Shares					Shares							Shares					Shares
			Issued for					Issued		Net Increase					Issued for					Issued		Net Increase
	Shares		Reinvested		Shares			from		(Decrease) of			Shares		Reinvested		Shares			from		(Decrease) of
	Sold		Dividends		Redeemed			Merger		Shares			Sold		Dividends		Redeemed			Merger		Shares
Class A
Shares		2,617		252		(2,783	)		287		373			6,078		809		(4,337	)		—		2,550
Amount	$	20,626	$	1,985	$	(21,799	)	$	2,213	$	3,025		$	62,170	$	8,613	$	(43,829	)	$	—	$	26,954
Class B
Shares		372		37		(445	)		37		1			875		145		(754	)		—		266
Amount	$	2,916	$	290	$	(3,479	)	$	290	$	17		$	8,914	$	1,556	$	(7,534	)	$	—	$	2,936
Class C
Shares		828		64		(1,247	)		102		(253	)		3,122		258		(2,546	)		—		834
Amount	$	6,509	$	506	$	(9,766	)	$	788	$	(1,963	)	$	32,319	$	2,758	$	(25,221	)	$	—	$	9,856
Class I
Shares		6		1		(14	)		—		(7	)		91		7		(177	)		—		(79	)
Amount	$	44	$	3	$	(108	)	$	—	$	(61	)	$	937	$	83	$	(1,837	)	$	—	$	(817	)
Class R3
Shares		16		—		(30	)		5		(9	)		129		—		(99	)		—		30
Amount	$	129	$	1	$	(245	)	$	38	$	(77	)	$	1,324	$	4	$	(1,004	)	$	—	$	324
Class R4
Shares		292		15		(154	)		54		207			777		17		(240	)		—		554
Amount	$	2,346	$	116	$	(1,167	)	$	418	$	1,713		$	8,088	$	174	$	(2,205	)	$	—	$	6,057
Class R5
Shares		182		6		(38	)		12		162			242		8		(57	)		—		193
Amount	$	1,440	$	53	$	(299	)	$	91	$	1,285		$	2,483	$	79	$	(551	)	$	—	$	2,011

The following reflects the conversion of Class B Shares into Class A Shares (reflected as Class A Shares issued and Class B shares redeemed) for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	Shares		Dollars
For the Six-Month Period Ended April 30, 2009		7	$	56
For the Year Ended October 31, 2008		32	$	328

8.	Line of Credit:
	The Fund is one of several Hartford Funds that participate in a $500 million committed revolving line of credit facility. The facility is to be used for temporary or emergency purposes. Under the arrangement, the Fund is required to own securities having a market value in excess of 300% of the total bank borrowings. The interest rate on borrowings varies depending on the nature of the loan. The facility also requires a fee to be paid based on the amount of the commitment. During the six-month period ended April 30, 2009, the Fund did not have any borrowings under this facility.
9.	Fund Merger:
	Reorganization of The Hartford Retirement Income Fund with and into The Hartford Conservative Allocation Fund: On August 6, 2008, the Board of Directors of The Hartford Mutual Funds, Inc. (“Company”) approved a Form of Agreement and Plan of Reorganization (“Reorganization Agreement”) that provides for the reorganization of a series of the Company, The Hartford Retirement Income Fund, into another series of the Company, The Hartford Conservative Allocation Fund (“Reorganization”). The reorganization did not require shareholder approval by shareholders of The Hartford Conservative Allocation Fund or The Hartford Retirement Income Fund.

16

Pursuant to the Reorganization Agreement, on February 20, 2009, each holder of Class A, Class B, Class C, Class R3, Class R4 and Class R5 shares of The Hartford Retirement Income Fund became the owner of full of factional shares of the corresponding class in The Hartford Conservative Allocation Fund having an equal aggregate value.

This merger was accomplished by tax free exchange as detailed below:

	Class A		Class B		Class C		Class I		Class R3		Class R4		Class R5		Total
Net assets of The Hartford Retirement Income Fund on February 20, 2009	$	2,213	$	290	$	788		N/A	$	38	$	418	$	91	$	3,838
The Hartford Retirement Income Fund shares exchanged		305		40		108		N/A		5		58		13		529
The Hartford Conservative Allocation Fund shares issued		287		37		102		N/A		5		54		12		497
Net assets of The Hartford Conservative Allocation Fund immediately before the merger	$	101,250	$	18,900	$	35,423	$	340	$	41	$	6,085	$	2,870	$	164,909
Net assets of The Hartford Conservative Allocation Fund immediately after the merger	$	103,463	$	19,190	$	36,211	$	340	$	79	$	6,503	$	2,961	$	168,747

The Hartford Retirement Income Fund had the following unrealized depreciation, accumulated net realized losses and capital stock as of February 20, 2009.

	Unrealized			Accumulated Net
Fund	Depreciation			Realized Losses			Capital Stock
The Hartford Retirement Income Fund	$	(586	)	$	(1,542	)	$	5,966

17

The Hartford Conservative Allocation Fund

Financial Highlights — (Unaudited)

	- Selected Per-Share Data - (a)																												- Ratios and Supplemental Data -
																																		Ratio of			Ratio of			Ratio of
																																		Expenses			Expenses			Expenses
																																		to Average			to Average			to Average
																																		Net Assets			Net Assets			Net Assets
																																		Before			After			After
							Net																											Waivers			Waivers			Waivers
							Realized																											and			and			and			Ratio of
							and Un-									Distrib-								Net										Reimburse-			Reimburse-			Reimburse-			Net
			Net		Pay-		realized						Dividends			utions								Increase			Net							ments and			ments and			ments and			Invest-			Port-
	Net Asset		Invest-		ments		Gain						from Net			from			Distri-					(Decrease)			Asset					Net Assets		Including			Including			Excluding			ment			folio
	Value at		ment		from		(Loss) on			Total from			Invest-			Realized			butions		Total			in Net			Value at					at End of		Expenses			Expenses			Expenses			Income to			Turn-
	Beginning		Income		(to)		Invest-			Investment			ment			Capital			from		Distri-			Asset			End of		Total			Period		not Subject			not Subject			not Subject			Average			over
Class	of Period		(Loss)		Affiliate		ments			Operations			Income			Gains			Capital		butions			Value			Period		Return(b)			(000’s)		to Cap(c)			to Cap(c)			to Cap(c)			Net Assets			Rate(d)
For the Six-Month Period Ended April 30, 2009 (Unaudited)
A	$	8.30	$	0 .15	$	—	$	0 .03		$	0.18		$	(0.16	)	$	—		$	—	$	(0.16	)	$	0.02		$	8.32		2 .30	%(e)	$	111,289		0 .63	%(f)		0 .63	%(f)		0 .63	%(f)		3 .85	%(f)		16	%
B		8.30		0 .12		—		0 .03			0.15			(0.13	)		—			—		(0.13	)		0.02			8.32		1 .89	(e)		20,771		1 .48	(f)		1 .38	(f)		1 .38	(f)		3 .11	(f)		—
C		8.29		0 .12		—		0 .03			0.15			(0.13	)		—			—		(0.13	)		0.02			8.31		1 .90	(e)		38,063		1 .40	(f)		1 .38	(f)		1 .38	(f)		3 .12	(f)		—
I		8.29		0 .18		—		0 .01			0.19			(0.17	)		—			—		(0.17	)		0.02			8.31		2 .39	(e)		355		0 .41	(f)		0 .38	(f)		0 .38	(f)		4 .12	(f)		—
R3		8.28		0 .12		—		0 .05			0.17			(0.08	)		—			—		(0.08	)		0.09			8.37		2 .09	(e)		189		1 .15	(f)		1 .06	(f)		1 .06	(f)		2 .90	(f)		—
R4		8.29		0 .15		—		0 .03			0.18			(0.16	)		—			—		(0.16	)		0.02			8.31		2 .29	(e)		6,630		0 .66	(f)		0 .66	(f)		0 .66	(f)		3 .76	(f)		—
R5		8.30		0 .16		—		0 .03			0.19			(0.17	)		—			—		(0.17	)		0.02			8.32		2 .44	(e)		3,455		0 .37	(f)		0 .37	(f)		0 .37	(f)		3 .90	(f)		—
For the Year Ended October 31, 2008
A		11.63		0 .33		—		(2 .84	)		(2.51	)		(0.42	)		(0.40	)		—		(0.82	)		(3.33	)		8.30		(22.99	)		107,922		0.57			0.57			0.57			3.09			27
B		11.62		0 .24		—		(2 .82	)		(2.58	)		(0.34	)		(0.40	)		—		(0.74	)		(3.32	)		8.30		(23.55	)		20,703		1.40			1.40			1.40			2.29			—
C		11.62		0 .23		—		(2 .81	)		(2.58	)		(0.35	)		(0.40	)		—		(0.75	)		(3.33	)		8.29		(23.57	)		40,054		1.33			1.33			1.33			2.23			—
I		11.61		0 .39		—		(2 .86	)		(2.47	)		(0.45	)		(0.40	)		—		(0.85	)		(3.32	)		8.29		(22.73	)		418		0.31			0.31			0.31			4.43			—
R3		11.61		0 .32		—		(2 .86	)		(2.54	)		(0.39	)		(0.40	)		—		(0.79	)		(3.33	)		8.28		(23.28	)		269		0.97			0.97			0.97			2.01			—
R4		11.62		0 .34		—		(2 .85	)		(2.51	)		(0.42	)		(0.40	)		—		(0.82	)		(3.33	)		8.29		(23.01	)		4,900		0.63			0.63			0.63			2.21			—
R5		11.63		0 .39		—		(2 .87	)		(2.48	)		(0.45	)		(0.40	)		—		(0.85	)		(3.33	)		8.30		(22.81	)		2,097		0.34			0.34			0.34			2.84			—
For the Year Ended October 31, 2007
A		11.16		0 .33		—		0 .81			1.14			(0.38	)		(0.29	)		—		(0.67	)		0.47			11.63		10.64			121,488		0.59			0.59			0.59			2.91			40
B		11.16		0 .25		—		0 .80			1.05			(0.30	)		(0.29	)		—		(0.59	)		0.46			11.62		9.81			25,903		1.42			1.28			1.28			2.25			—
C		11.15		0 .25		—		0 .81			1.06			(0.30	)		(0.29	)		—		(0.59	)		0.47			11.62		9.91			46,433		1.35			1.28			1.28			2.17			—
I		11.16		0 .38		—		0 .78			1.16			(0.42	)		(0.29	)		—		(0.71	)		0.45			11.61		10.86			1,502		0.27			0.27			0.27			2.64			—
R3(g)		10.95		0 .16		—		0 .70			0.86			(0.20	)		—			—		(0.20	)		0.66			11.61		7 .93	(e)		20		1 .05	(f)		1 .03	(f)		1 .03	(f)		1 .87	(f)		—
R4(h)		10.95		0 .20		—		0 .70			0.90			(0.23	)		—			—		(0.23	)		0.67			11.62		8 .25	(e)		429		0 .75	(f)		0 .75	(f)		0 .75	(f)		2 .26	(f)		—
R5(i)		10.95		0 .24		—		0 .68			0.92			(0.24	)		—			—		(0.24	)		0.68			11.63		8 .53	(e)		695		0 .48	(f)		0 .46	(f)		0 .46	(f)		2 .41	(f)		—
For the Year Ended October 31, 2006
A		10.57		0 .26		—		0 .76			1.02			(0.31	)		(0.12	)		—		(0.43	)		0.59			11.16		9.85			93,504		0.64			0.63			0.63			2.41			29
B		10.56		0 .19		—		0 .76			0.95			(0.23	)		(0.12	)		—		(0.35	)		0.60			11.16		9.19			20,782		1.48			1.31			1.31			1.73			—
C		10.56		0 .19		—		0 .76			0.95			(0.24	)		(0.12	)		—		(0.36	)		0.59			11.15		9.10			36,123		1.41			1.31			1.31			1.67			—
I(j)		10.94		0 .07		—		0 .22			0.29			(0.07	)		—			—		(0.07	)		0.22			11.16		2 .69	(e)		10		0 .72	(f)		0 .41	(f)		0 .41	(f)		2 .07	(f)		—
For the Year Ended October 31, 2005
A		10.27		0 .23		—		0 .28			0.51			(0.21	)		—			—		(0.21	)		0.30			10.57		4.96			70,533		0.63			0.60			0.60			2.25			23
B		10.26		0 .16		—		0 .28			0.44			(0.14	)		—			—		(0.14	)		0.30			10.56		4.26			14,525		1.48			1.26			1.26			1.60			—
C		10.26		0 .16		—		0 .28			0.44			(0.14	)		—			—		(0.14	)		0.30			10.56		4.26			27,453		1.42			1.26			1.26			1.56			—
From (commencement of operations) May 28, 2004, through October 31, 2004
A(k)		10.00		0 .03		—		0 .27			0.30			(0.03	)		—			—		(0.03	)		0.27			10.27		2 .96	(e)		33,921		0 .63	(f)		0 .60	(f)		0 .60	(f)		1 .70	(f)		—
B(l)		10.00		0 .02		—		0 .25			0.27			(0.01	)		—			—		(0.01	)		0.26			10.26		2 .70	(e)		4,993		1 .44	(f)		1 .25	(f)		1 .25	(f)		1 .05	(f)		—
C(m)		10.00		0 .02		—		0 .25			0.27			(0.01	)		—			—		(0.01	)		0.26			10.26		2 .70	(e)		10,807		1 .38	(f)		1 .25	(f)		1 .25	(f)		1 .17	(f)		—

(a)	Expense ratios do not include expenses of the underlying funds.
(b)	Information presented relates to a share outstanding throughout the indicated period.
(c)	Assumes initial investment at net asset value at the beginning of each period, reinvestment of all distributions, the complete redemption of the investment at net asset value at the end of each period and no sales charge. Total return would be reduced if sales charges were taken into account.
(d)	Ratios do not include fees paid indirectly (See Expenses in the accompanying Notes to Financial Statements).
(e)	Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between the classes of shares issued.
(f)	Not annualized.
(g)	Annualized.
(h)	Commenced operations on December 22, 2006.
(i)	Commenced operations on December 22, 2006.
(j)	Commenced operations on December 22, 2006.
(k)	Commenced operations on August 31, 2006.
(l)	Commenced operations on May 28, 2004.
(m)	Commenced operations on May 28, 2004.
(n)	Commenced operations on May 28, 2004.

18

The Hartford Conservative Allocation Fund

Directors and Officers (Unaudited)

The Board of Directors appoints officers who are responsible for the day-to-day operations of the Fund and who execute policies formulated by the Directors. Each director serves until his or her death, resignation, or retirement or until the next annual meeting of shareholders is held or until his or her successor is elected and qualifies.

Directors and officers who are employed by or who have a financial interest in The Hartford are considered “interested” persons of the Fund pursuant to the Investment Company Act of 1940, as amended. Each officer and three of the Fund’s directors, as noted in the chart below, are “interested” persons of the Fund. Each director serves as a director for The Hartford Mutual Funds, Inc., The Hartford Mutual Funds II, Inc., The Hartford Income Shares Fund, Inc., Hartford Series Fund, Inc., and Hartford HLS Series Fund II, Inc., which collectively consist of 100 funds. Correspondence may be sent to directors and officers c/o Hartford Mutual Funds, P.O. Box 2999, Hartford, Connecticut 06104-2999, except that correspondence to Ms. Fagely may be sent to 500 Bielenberg Drive, Woodbury, Minnesota 55125.

The table below sets forth, for each director and officer, his or her name, year of birth, current position with the Fund and date first elected or appointed to The Hartford Mutual Funds, Inc. (“MF”) and The Hartford Mutual Funds II, Inc. (“MF2”), principal occupation, and, for directors, other directorships held. The Fund’s statement of additional information contains further information on the directors and is available free of charge by calling 1-888-843-7824 or writing to Hartford Mutual Funds, P.O. Box 64387, St. Paul, MN 55164-0387.

Information on the aggregate remuneration paid to the directors of the Fund can be found in the Statement of Operations herein. The Fund pays a portion of the Chief Compliance Officer’s compensation, but does not pay salaries or compensation to any of its officers or directors who are employed by The Hartford.

Non-Interested Directors

Lynn S. Birdsong (1946) Director since 2003, Co-Chairman of the Investment Committee

Mr. Birdsong is a private investor. Since 1981, Mr. Birdsong has been a partner in Birdsong Company, an advertising specialty firm. Since 2003, Mr. Birdsong has been an independent director of The Japan Fund. From 2003 to March 2005, Mr. Birdsong was an independent director of the Atlantic Whitehall Funds. From 1979 to 2002, Mr. Birdsong was a managing director of Zurich Scudder Investments, an investment management firm. During his employment with Scudder, Mr. Birdsong was an interested director of The Japan Fund.

Robert M. Gavin, Jr. (1940) Director since 2002 (MF) and 1986 (MF2), Chairman of the Board since 2004

Dr. Gavin is an educational consultant. Prior to September 1, 2001, he was President of Cranbrook Education Community and prior to July 1996, he was President of Macalester College, St. Paul, Minnesota.

Duane E. Hill (1945) Director since 2001 (MF) and 2002 (MF2), Chairman of the Nominating Committee

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

Sandra S. Jaffee (1941) Director since 2005

Ms. Jaffee is Chairman and Chief Executive Officer of Fortent (formerly Searchspace Group), a leading provider of compliance/regulatory technology to financial institutions. Ms. Jaffee served as an Entrepreneur in Residence with Warburg Pincus, a private equity firm, from August 2004 to August 2005. From September 1995 to July 2004, Ms. Jaffee served as Executive Vice President at Citigroup, where she was President and Chief Executive Officer of Citibank’s Global Securities Services (1995-2003).

William P. Johnston (1944) Director since 2005, Chairman of the Compliance Committee

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

19

The Hartford Conservative Allocation Fund
Directors and Officers (Unaudited) — (continued)

Phillip O. Peterson (1944) Director since 2002 (MF) and 2000 (MF2), Chairman of the Audit Committee

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

Lemma W. Senbet (1946) Director since 2005

Dr. Senbet is the William E. Mayer Chair Professor of Finance at the University of Maryland, Robert H. Smith School of Business. He was chair of the Finance Department during 1998-2006. Previously he was an endowed professor of finance at the University of Wisconsin-Madison. Also, he was director of the Fortis Funds from March 2000-July 2002. Dr. Senbet served the finance profession in various capacities, including as director of the American Finance Association and President of the Western Finance Association. In 2006, Dr. Senbet was inducted Fellow of Financial Management Association International for his career-long distinguished scholarship and professional service.

Interested Directors and Officers

Thomas M. Marra* (1958) Director since 2002

Mr. Marra has served as President and Chief Operating Officer of The Hartford Financial Services Group, Inc. (“The Hartford”) since 2007. Mr. Marra currently serves as Director of Hartford Life, Inc. (“HL, Inc.”). Mr. Marra served as Chief Operating Officer of Hartford Life Insurance Company, Inc. (“Hartford Life”) (2000-2008), as President of Hartford Life (2002-2008) and as Director of Hartford Life’s Investment Products Division from 1998 to 2000.

* On February 24, 2009, The Hartford and Mr. Marra determined to enter into a mutually agreed separation whereby Mr. Marra will retire, and his role as an executive officer and employee of The Hartford will terminate, effective July 3, 2009. Mr. Marra will resign his position as a Director of the Fund effective June 25, 2009.

Lowndes A. Smith (1939) Director since 2002, Co-Chairman of the Investment Committee

Mr. Smith served as Vice Chairman of The Hartford from February 1997 to January 2002, as President and Chief Executive Officer of Hartford Life, Inc. from February 1997 to January 2002, and as President and Chief Operating Officer of The Hartford Life Insurance Companies from January 1989 to January 2002. Mr. Smith serves as a Director of White Mountains Insurance Group, Ltd., One Beacon Insurance, Symetra Financial and as a Managing Director of Whittington Gray Associates.

John C. Walters* (1962) Director since 2008

Mr. Walters currently serves as Chief Executive Officer, President and Director of HL, Inc. Mr. Walters previously served as President of the U.S. Wealth Management Division of Hartford Life, Inc., as Co-Chief Operating Officer of Hartford Life Insurance Company (2007-2008) and as Executive Vice President and Director of its Investment Products Division (2000-2008). Mr. Walters also serves as Chairman of the Board, Chief Executive Officer, President and Director of Hartford Life Insurance Company and as Executive Vice President of The Hartford. In addition, Mr. Walters is Manager of HL Investment Advisors, LLC (“HL Advisors”).

* Mr. Walters previously served as President and Chief Executive Officer of the Fund (2007 — 2009).

Other Officers

Robert M. Arena, Jr. (1968) President and Chief Executive Officer since 2009 (served as Vice President of the Fund (2006 — 2009))

Mr. Arena serves as Executive Vice President of Hartford Life Insurance Company, (“Hartford Life”). Additionally, Mr. Arena is Director and Senior Vice President of Hartford Administrative Services Company, (“HASCO”), Manager, Chief Executive Officer and President of Hartford Investment Financial Services, LLC (“HIFSCO”) and HL Advisors. Prior to joining The Hartford in 2004, he was Senior Vice President in charge of Product Management for American Skandia/Prudential in the individual annuities division. Mr. Arena joined American Skandia in 1996.

Tamara L. Fagely (1958) Vice President, Treasurer and Controller since 2002 (MF) 1993 (MF2)

Ms. Fagely has been a Vice President of HASCO since 1998 and Chief Financial Officer since 2006. Currently Ms. Fagely is a Vice President of Hartford Life. She served as Assistant Vice President of Hartford Life from December 2001 through March 2005. In addition, Ms. Fagely is Controller and Chief Financial Officer of HIFSCO.

20

Brian Ferrell (1962) AML Compliance Officer since 2008

Mr. Ferrell has served as Assistant Vice President and AML Compliance Officer for The Hartford since 2006 and as AML Compliance Officer for HASCO and Hartford Investor Services Company, LLC (“HISC”) since 2008. Prior to joining The Hartford in 2006, Mr. Ferrell held various positions at the U.S. Department of the Treasury, (the “Treasury”), from 2001 to 2006 where he served as Chief Counsel for the Treasury’s Financial Crimes Enforcement Network, (“FinCEN”) from 2005 — 2006.

Thomas D. Jones, III (1965) Vice President and Chief Compliance Officer since 2006

Mr. Jones serves as Chief Compliance Officer for the Hartford Mutual Funds and Vice President and Director of Securities Compliance for The Hartford. He is also Vice President of HIFSCO, HL Advisors, and Hartford Life Insurance Company. Mr. Jones joined The Hartford in 2006 from SEI Investments, where he served as Chief Compliance Officer for its mutual funds and investment advisers. Prior to joining SEI, Mr. Jones was First Vice President and Compliance Director for Merrill Lynch Investment Managers (Americas) (“MLIM”), where he worked from 1992-2004. At MLIM, Mr. Jones was responsible for the compliance oversight of various investment products, including mutual funds, wrap accounts, institutional accounts and alternative investments.

Edward P. Macdonald (1967) Vice President, Secretary and Chief Legal Officer since 2005

Mr. Macdonald serves as Assistant General Counsel and Assistant Vice President of The Hartford and Chief Legal Officer and Vice President of HIFSCO. He also serves as Vice President and Secretary of HASCO, Assistant Vice President of Hartford Life, and Chief Legal Officer, Secretary and Vice President of HL Advisors. Prior to joining The Hartford in 2005, Mr. Macdonald was Chief Counsel, Investment Management for Prudential Financial (formerly American Skandia Investment Services, Inc.). He joined Prudential in April 1999.

Vernon J. Meyer (1964) Vice President since 2006

Mr. Meyer serves as Senior Vice President of Hartford Life and as Director of its Investment Advisory Group in the Individual Markets Group segment. He also serves as Senior Vice President of HIFSCO and HL Advisors. Prior to joining The Hartford in 2004, Mr. Meyer was with MassMutual which he joined in 1987.

D. Keith Sloane (1960) Vice President since 2009

Mr. Sloane is a Senior Vice President of Hartford Life where he serves as Director of mutual fund product management for The Hartford’s mutual funds and 529 college savings businesses. Additionally, Mr. Sloane currently serves as Senior Vice President of HIFSCO, HL Advisors, and HASCO. Prior to joining The Hartford in 2007, Mr. Sloane was Director of product marketing and led the mutual fund business for Wachovia Securities (“Wachovia”) in their investment products group. Mr. Sloane joined Wachovia in 1995.

Jane Wolak (1961) Vice President since 2009

Ms. Wolak currently serves as Vice President of Hartford Life. Ms. Wolak joined Hartford Life as Vice President, Retail Product Services in May 2007. She is also Vice President of HASCO. Previously, Ms. Wolak was with Sun Life Financial where she held the position of Vice President, Service Center Operations from 2001 — 2007.

HOW TO OBTAIN A COPY OF THE FUND’S PROXY VOTING POLICIES AND VOTING RECORDS

A description of the policies and procedures that the Fund uses to determine how to vote proxies relating to portfolio securities and a record of how the Fund voted any proxies for the twelve-month period ended June 30, 2008 is available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov.

QUARTERLY PORTFOLIO HOLDINGS INFORMATION

The Fund files a complete schedule of portfolio holdings with the Commission for the first and third quarters of each fiscal year on Form N-Q. The Fund’s Forms are available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov. The Form N-Q may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330.

21

The Hartford Conservative Allocation Fund

Expense Example (Unaudited)

Your Fund’s Expenses

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments and contingent deferred sales charges (CDSC) (2) ongoing costs including management fees; distribution fees; and other fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the period of October 31, 2008 through April 30, 2009.

Actual Expenses

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

Hypothetical Example for Comparison Purposes

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

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads) and CDSC. Therefore, the second line 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 are equal to the Fund’s annualized expense ratios multiplied by average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

	Actual return						Hypothetical (5% return before expenses)
					Expenses paid						Expenses paid					Days in
					during the period						during the period					the		Days
	Beginning		Ending Account		October 31, 2008		Beginning		Ending Account		October 31,		Annualized			current		in the
	Account Value		Value		through		Account Value		Value		2008 through		expense			1/2		full
	October 31, 2008		April 30, 2009		April 30, 2009		October 31, 2008		April 30, 2009		April 30, 2009		ratio			year		year
Class A	$	1,000.00	$	1,022.95	$	3.16	$	1,000.00	$	1,021.67	$	3.15		0.63	%		181		365
Class B	$	1,000.00	$	1,018.92	$	6.90	$	1,000.00	$	1,017.95	$	6.90		1.38			181		365
Class C	$	1,000.00	$	1,018.98	$	6.90	$	1,000.00	$	1,017.95	$	6.90		1.38			181		365
Class I	$	1,000.00	$	1,023.90	$	1.90	$	1,000.00	$	1,022.91	$	1.90		0.38			181		365
Class R3	$	1,000.00	$	1,020.92	$	5.31	$	1,000.00	$	1,019.53	$	5.30		1.06			181		365
Class R4	$	1,000.00	$	1,022.88	$	3.31	$	1,000.00	$	1,021.52	$	3.30		0.66			181		365
Class R5	$	1,000.00	$	1,024.38	$	1.85	$	1,000.00	$	1,022.95	$	1.85		0.37			181		365

22

The Hartford Disciplined Equity Fund

Table of Contents

Manager Discussions (Unaudited)	2
Financial Statements
Schedule of Investments at April 30, 2009 (Unaudited)	4
Statement of Assets and Liabilities at April 30, 2009 (Unaudited)	7
Statement of Operations for the Six Month Period Ended April 30, 2009 (Unaudited)	8
Statement of Changes in Net Assets for the Six Month Period Ended April 30, 2009 (Unaudited) and the Year Ended October 31, 2008	9
Notes to Financial Statements (Unaudited)	10
Financial Highlights (Unaudited)	21
Directors and Officers (Unaudited)	22
How to Obtain a Copy of the Fund’s Proxy Voting Policies and Proxy Voting Records (Unaudited)	24
Quarterly Portfolio Holdings Information (Unaudited)	24
Expense Example (Unaudited)	25

The Hartford Disciplined Equity Fund
(subadvised by Wellington Management Company, LLP)

Performance Overview(1) 4/30/99 — 4/30/09
Growth of a $10,000 investment in Class A which includes Sales Charge

S&P 500 Index is a market capitalization weighted price index composed of 500 widely held common stocks.

You cannot invest directly in an index.

The value of shares will fluctuate so that, when redeemed, shares may be worth more or less than their original cost. The chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.

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

Investment objective — Seeks growth of capital.

Average Annual Total Returns(2,3,4) (as of 4/30/09)

	Inception		1			5			10			Since
	Date		Year			Year			Year			Inception
Disciplined Equity A#		4/30/98		-33.33	%		-3.35	%		-2.49	%		-0.39	%
Disciplined Equity A##		4/30/98		-37.00	%		-4.44	%		-3.04	%		-0.90	%
Disciplined Equity B#		4/30/98		-33.68	%		-3.98	%	NA		*	NA		*
Disciplined Equity B##		4/30/98		-36.99	%		-4.36	%	NA		*	NA		*
Disciplined Equity C#		4/30/98		-33.89	%		-4.04	%		-3.18	%		-1.09	%
Disciplined Equity C##		4/30/98		-34.55	%		-4.04	%		-3.18	%		-1.09	%
Disciplined Equity R3#		4/30/98		-33.60	%		-3.23	%		-2.18	%		-0.06	%
Disciplined Equity R4#		4/30/98		-33.35	%		-3.06	%		-2.10	%		0.02	%
Disciplined Equity R5#		4/30/98		-33.13	%		-2.93	%		-2.03	%		0.08	%
Disciplined Equity Y#		4/30/98		-33.10	%		-2.88	%		-2.01	%		0.10	%

#	Without sales charge
##	With sales charge
NA	Not Applicable
*	10 year and inception returns are not applicable for Class B because after 8 years Class B converts to Class A.

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)	Growth of a $10,000 investment in Classes B, C, R3, R4, R5 and Y shares will vary from results seen above due to differences in the expenses charged to these share classes.
(2)	Class C shares commenced operations on 7/31/98. Performance prior to 7/31/98 reflects Class B performance less Class C sales charges where applicable. Class R3, R4 and R5 shares commenced operations on 12/22/06. Performance prior to 12/22/06 reflects Class Y performance.
(3)	The initial investment in Class A shares reflects the maximum sales charge and Classes B and C reflect CDSC.
(4)	Total returns presented above were calculated using the Fund’s net asset value available to shareholders for sale or redemption of Fund shares on April 30, 2009, which excludes investment transactions as of this date.

Portfolio Managers
James A. Rullo, CFA	Mammen Chally, CFA
Senior Vice President, Partner	Vice President

How did the Fund perform?

The Class A shares of The Hartford Disciplined Equity Fund returned -4.68%, before sales charge, for the six-month period ended April 30, 2009, outperforming its benchmark, the S&P 500 Index, which returned -8.53% for the same period. The Fund outperformed the -7.12% return of the average fund in the Lipper Large-Cap Core Funds peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

Sharp increases in unemployment and uncertainty over the stimulus package got 2009 off to a weak start. However, recent signs of a bottoming in the fortunes of the financial industry coupled with aggressive intervention by the Federal Reserve in the capital markets led to increased investor risk appetite during March, despite continuing softness in demand for durable goods and a collapse in global trade. While volatility in the equity market remains high, some semblance of order may be replacing the atmosphere of complete uncertainty which prevailed last year.

Weakness was widespread during the period as seven of ten broad economic sectors in the S&P 500 fell. Financials (-29%), Industrials (-13%), and Energy (-10%) posted the largest losses. Information Technology (6%), Consumer Discretionary (4%) and Telecommunication Services (3%) performed relatively well during the period.

The Fund’s relative (i.e. performance of the Fund as measured against the benchmark) outperformance was due largely to favorable stock selection within Financials, Energy, Health Care

2

and Industrials. Our below-benchmark allocation to Financials and overweight (i.e. the Fund’s sector position was greater than the benchmark position) to Information Technology also contributed to the Fund’s relative outperformance.

The largest contributors to relative performance were Wells Fargo (Financials), Gap (Consumer Discretionary) and BMC Software (Information Technology). In a difficult period for Financial Services stocks, shares of U.S. bank Wells Fargo fell less than those of many other U.S. banks as the company benefited from industry consolidation and a “flight to quality.” Shares of U.S. specialty-retailer Gap rose due to better-than-expected sales and management’s focus on increasing profits. Shares of software developer BMC Software increased following strong quarterly results due to the company’s healthy balance sheet, robust product line and competitive position. The Fund held positions in these three stocks at the end of the period. In addition, not owning Bank of America (Financials), Citigroup (Financials) and General Electric (Industrials), which all suffered significant share price declines during the period, contributed to benchmark-relative returns.

Other notable contributors to absolute (i.e. total return) performance were global pharmaceutical companies Schering-Plough and Wyeth. Shares of Schering-Plough jumped after the company announced a definitive merger agreement with Merck. We trimmed our position following the announcement but continue to hold the stock given our favorable view of the company post-merger. Shares of Wyeth moved sharply higher after Pfizer agreed to purchase the company in a cash and stock transaction valued at approximately $68 billion.

The largest detractors on a relative basis were PNC Financial Services (Financials), Southwest Airlines (Industrials) and Apollo Group (Consumer Discretionary). Shares of PNC, a diversified banking and asset management company, fell due to capital adequacy concerns. Shares of Southwest Airlines fell as demand for air travel declined even faster than aggressive industry capacity cuts and a decline in high-fare business travel also affected revenue-per-seat metrics. For-profit education company Apollo Group’s shares increased during the period due to the company’s healthy enrollment growth and access to federal student loans; however, the Fund did not own the stock for much of the period which detracted from the Fund’s performance. Other detractors from absolute performance included Amgen (Health Care) and General Mills (Consumer Staples).

What is the outlook?

While investors have stopped worrying—for the moment—about the solvency of the banking system and the freezing of global credit, that concern has shifted to implications of government involvement in private enterprise and the troubling trajectories of unemployment and corporate profits.

The Fund focuses on stock selection as the key driver of returns and uses proprietary fundamental and quantitative research in a disciplined framework to build a portfolio of the most attractive stocks. Sector exposures are residuals from this bottom-up (i.e. stock by stock fundamental research) stock selection process and are not explicit management decisions. Based on individual stock decisions, the Fund ended the period most overweight the Health Care, Information Technology, and Utilities sectors and most underweight (i.e. the Fund’s sector position was less than the benchmark position) Energy, Consumer Discretionary and Consumer Staples relative to the S&P500 Index, the Fund’s benchmark.

Diversification by Industry
as of April 30, 2009

	Percentage of
Industry	Net Assets
Automobiles & Components		0.4	%
Banks		4.6
Capital Goods		7.0
Commercial & Professional Services		0.6
Consumer Services		1.1
Diversified Financials		1.6
Energy		8.4
Food & Staples Retailing		4.0
Food, Beverage & Tobacco		6.1
Health Care Equipment & Services		3.9
Insurance		4.9
Materials		1.9
Pharmaceuticals, Biotechnology & Life Sciences		15.6
Real Estate		0.8
Retailing		4.4
Semiconductors & Semiconductor Equipment		1.8
Software & Services		11.9
Technology Hardware & Equipment		7.6
Telecommunication Services		2.9
Transportation		1.7
Utilities		6.9
Short-Term Investments		1.5
Other Assets and Liabilities		0.4
Total		100.0	%

3

The Hartford Disciplined Equity Fund

Schedule of Investments

April 30, 2009 (Unaudited)
(000’s Omitted)

Shares or Principal Amount			Market Value ╪
COMMON STOCKS—98.1%
		Automobiles & Components—0.4%
	112	Ford Motor Co. •	$	669
		Banks—4.6%
	68	PNC Financial Services Group, Inc.		2,708
	236	Wells Fargo & Co.		4,728
				7,436
		Capital Goods—7.0%
	55	Dover Corp.		1,678
	7	First Solar, Inc. •		1,236
	20	Fluor Corp.		773
	53	Lockheed Martin Corp.		4,138
	26	Precision Castparts Corp.		1,976
	14	Raytheon Co.		611
	19	United Technologies Corp.		904
				11,316
		Commercial & Professional Services—0.6%
	22	Manpower, Inc. Ø		957
		Consumer Services—1.1%
	16	Apollo Group, Inc. Class A •		988
	9	ITT Educational Services, Inc. •		867
				1,855
		Diversified Financials—1.6%
	20	Goldman Sachs Group, Inc.		2,621
		Energy—8.4%
	19	ConocoPhillips Holding Co.		795
	9	Diamond Offshore Drilling, Inc.		673
	23	Hess Corp.		1,266
	91	Marathon Oil Corp.		2,703
	51	Nabors Industries Ltd. •		782
	24	National Oilwell Varco, Inc. •		724
	68	Occidental Petroleum Corp.		3,833
	34	Range Resources Corp.		1,347
	36	Ultra Petroleum Corp. •		1,554
				13,677
		Food & Staples Retailing—4.0%
	37	BJ’s Wholesale Club, Inc. •		1,227
	77	Supervalu, Inc.		1,265
	79	Wal-Mart Stores, Inc.		4,002
				6,494
		Food, Beverage & Tobacco—6.1%
	156	Altria Group, Inc.		2,546
	17	Archer Daniels Midland Co.		406
	24	Lorillard, Inc.		1,509
	36	PepsiCo, Inc.		1,801
	101	Philip Morris International, Inc.		3,638
				9,900
		Health Care Equipment & Services—3.9%
	10	Humana, Inc. •		273
	11	McKesson Corp. Θ		403
	33	Medtronic, Inc.		1,066
	67	St. Jude Medical, Inc. •		2,259
	62	UnitedHealth Group, Inc.		1,461
	22	Wellpoint, Inc. •		945
				6,407
		Insurance—4.9%
	6	Aflac, Inc.		170
	72	Allied World Assurance Holdings Ltd.		2,685
	78	Axis Capital Holdings Ltd.		1,917
	28	Everest Re Group Ltd.		2,105
	64	Unum Group		1,046
				7,923
		Materials—1.9%
	58	Cliffs Natural Resources, Inc.		1,331
	19	Mosaic Co.		769
	25	Nucor Corp. Θ		1,017
				3,117
		Pharmaceuticals, Biotechnology & Life Sciences—15.6%
	43	Abbott Laboratories		1,816
	77	Amgen, Inc. •		3,708
	128	Bristol-Myers Squibb Co.		2,458
	104	Eli Lilly & Co.		3,407
	124	Forest Laboratories, Inc. •		2,694
	34	Gilead Sciences, Inc. •		1,553
	57	Johnson & Johnson		2,990
	69	Merck & Co., Inc.		1,670
	61	Pfizer, Inc.		808
	101	Schering-Plough Corp.		2,313
	47	Wyeth		2,010
				25,427
		Real Estate—0.8%
	97	Annaly Capital Management, Inc.		1,363
		Retailing—4.4%
	4	Amazon.com, Inc. •		330
	204	Gap, Inc.		3,169
	24	Kohl’s Corp. •		1,079
	56	Macy’s, Inc.		766
	40	Staples, Inc.		821
	40	TJX Cos., Inc.		1,121
				7,286
		Semiconductors & Semiconductor Equipment—1.8%
	42	Intel Corp.		658
	43	Maxim Integrated Products, Inc.		583
	91	Texas Instruments, Inc.		1,634
				2,875
		Software & Services—11.9%
	78	Accenture Ltd. Class A		2,293
	78	BMC Software, Inc. •		2,690
	6	Google, Inc. •		2,495
	2	Mastercard, Inc.		330
	200	Microsoft Corp. Θ		4,048
	163	Oracle Corp. •		3,143
	37	Symantec Corp. •		642
	30	VeriSign, Inc. •		611
	179	Western Union Co.		3,000
				19,252
		Technology Hardware & Equipment—7.6%
	23	Apple, Inc. •		2,894
	94	Cisco Systems, Inc. •		1,812
	65	Dell, Inc. •Θ		755
	84	Hewlett-Packard Co. Θ		3,012
	23	International Business Machines Corp.		2,363
	231	Xerox Corp.		1,413
				12,249
		Telecommunication Services—2.9%
	153	AT&T, Inc.		3,908

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

4

Shares or Principal Amount					Market Value ╪
COMMON STOCKS — 98.1%—(continued)
		Telecommunication Services—2.9%—(continued)
	27	Century Tel, Inc.			$	741
						4,649
		Transportation—1.7%
	8	C.H. Robinson Worldwide, Inc.				415
	30	FedEx Corp. Θ				1,684
	24	J.B. Hunt Transport Services, Inc.				669
						2,768
		Utilities—6.9%
	20	Edison International				562
	43	Entergy Corp.				2,778
	61	Exelon Corp. Θ				2,814
	58	FirstEnergy Corp.				2,372
	11	PG&E Corp.				390
	101	UGI Corp.				2,306
						11,222
		Total common stocks (cost $188,960)			$	159,463
		Total long-term investments (cost $188,960)			$	159,463
SHORT-TERM INVESTMENTS—1.5%
		Repurchase Agreements—1.5%
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $558, collateralized by GNMA 4.50%—6.50%, 2038—2039, value of $569)
$	558	0.18%, 04/30/2009			$	558
		BNP Paribas Securities Corp. TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $668, collateralized by FHLMC 4.50%—6.50%, 2035—2039, FNMA 4.50%—6.50%, 2034—2047, value of $681)
	668	0.17%, 04/30/2009				668
		Deutsche Bank Securities TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $933, collateralized by FHLMC 4.00%—7.00%, 2021—2039, FNMA 6.00%—7.00%, 2034—2038, GNMA 4.50%—7.00%, 2024—2039, value of $952)
	933	0.17%, 04/30/2009				933
		UBS Securities, Inc. Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $3, collateralized by U.S. Treasury Bond 7.50%, 2024, value of $3)
	3	0.14%, 04/30/2009				3
		UBS Securities, Inc. TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $201, collateralized by FHLMC 8.00%—15.00%, 2009—2021, FNMA 3.50%—15.50%, 2012— 2039, value of $205)
$	201	0.16%, 04/30/2009				201
						2,363
		Total short-term investments (cost $2,363)			$	2,363
		Total investments (cost $191,323) ▲	99.6	%	$	161,826
		Other assets and liabilities	0.4	%		701
		Total net assets	100.0	%	$	162,527

Note:	Percentage of investments as shown is the ratio of the total market value to total net assets.
▲	At April 30, 2009, the cost of securities for federal income tax purposes was $191,649 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	5,691
Unrealized Depreciation		(35,514	)
Net Unrealized Depreciation	$	(29,823	)

•	Currently non-income producing.
Θ	At April 30, 2009, these securities were designated to cover open call options written as follows:

	Number of		Exercise		Exercise		Market		Premiums
Issuer	Contracts*		Price		Date		Value ╪		Received
Dell, Inc.		163	$	11.00	May 2009	$	14		3
Exelon Corp.		67		50.00	May 2009		—		7
FedEx Corp.		29		60.00	May 2009		2		2
Hewlett Packard Co.		45		37.50	May 2009		2		2
McKesson Corp.		27		37.50	May 2009		3		3
Microsoft Corp.		131		19.00	May 2009		19		13
Nucor Corp.		38		47.50	May 2009		1		5
						$	41	$	35

* The number of contracts does not omit 000’s.

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

5

The Hartford Disciplined Equity Fund
Schedule of Investments—(continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

Ø At April 30, 2009, securities valued at $264 and cash of $438 were designated to cover open put options written as follows:

						Market
	Number of		Exercise		Exercise	Value		Premiums
Issuer	Contracts*		Price		Date	╪		Received
Apollo Investment Corp.		28	$	55.00	May 2009	$	2	$	5
Cliff’s Natural Resources, Inc.		75	$	17.50	May 2009	$	1	$	4
Dell, Inc.		163	$	8.00	May 2009	$	—	$	4
Gilead Sciences, Inc.		34	$	44.00	May 2009	$	3	$	4
Symantec Corp.		91	$	15.00	May 2009	$	2	$	4
						$	8	$	21

* The number of contracts does not omit 000’s.

Futures Contracts Outstanding at April 30, 2009

					Unrealized
	Number of			Expiration	Appreciation/
Description	Contracts*		Position	Month	(Depreciation)
S&P 500 Mini		56	Long	Jun 2009	$	278

* The number of contracts does not omit 000’s.

Cash of $252 was pledged as initial margin deposit for open futures contracts at April 30, 2009.

╪ See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of securities.

FAS 157 Disclosure of Investment Valuation Hierarchy Levels

Assets:
Investment in securities — Level 1	$	159,463
Investment in securities — Level 2		2,363
Total	$	161,826
Other financial instruments — Level 1 *	$	302
Total	$	302
Liabilities:
Other financial instruments — Level 1 *	$	17
Total	$	17

* Other financial instruments are derivative instruments not reflected in the Schedule of Investments, such as futures, forwards and swap contracts, which are valued at the unrealized appreciation/depreciation on the investment.

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

6

The Hartford Disciplined Equity Fund

Statement of Assets and Liabilities

April 30, 2009 (Unaudited)
(000’s Omitted)

Assets:
Investments in securities, at fair value (cost $191,323)	$	161,826
Cash		690	*†
Receivables:
Investment securities sold		1,350
Fund shares sold		11
Dividends and interest		203
Variation margin		3
Other assets		78
Total assets		164,161
Liabilities:
Payables:
Investment securities purchased		1,185
Fund shares redeemed		279
Investment management fees		20
Distribution fees		7
Accrued expenses		94
Written options		49
Total liabilities		1,634
Net assets	$	162,527
Summary of Net Assets:
Capital stock and paid-in-capital		255,659
Accumulated undistributed net investment income		813
Accumulated net realized loss on investments		(64,733	)
Unrealized depreciation of investments		(29,212	)
Net assets	$	162,527
Shares authorized		450,000
Par value	$	0.001
Class A: Net asset value per share/Maximum offering price per share	$	8.82/$9.33
Shares outstanding		8,882
Net assets	$	78,320
Class B: Net asset value per share	$	8.37
Shares outstanding		1,074
Net assets	$	8,992
Class C: Net asset value per share	$	8.35
Shares outstanding		1,340
Net assets	$	11,187
Class R3: Net asset value per share	$	9.04
Shares outstanding		1
Net assets	$	7
Class R4: Net asset value per share	$	9.03
Shares outstanding		5
Net assets	$	46
Class R5: Net asset value per share	$	9.07
Shares outstanding		1
Net assets	$	7
Class Y: Net asset value per share	$	9.07
Shares outstanding		7,051
Net assets	$	63,968

*	Cash of $438 was designated to cover open put options written.
†	Cash of $252 was designated to cover open futures contracts.

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

7

The Hartford Disciplined Equity Fund

Statement of Operations

For the Six Month Period Ended April 30, 2009 (Unaudited)
(000’s Omitted)

Investment Income:
Dividends	$	2,134
Interest		2
Securities lending		—
Total investment income		2,136
Expenses:
Investment management fees		602
Transfer agent fees		269
Distribution fees
Class A		100
Class B		49
Class C		58
Class R3		—
Class R4		—
Custodian fees		4
Accounting services		13
Registration and filing fees		37
Board of Directors’ fees		3
Audit fees		5
Other expenses		45
Total expenses (before waivers and fees paid indirectly)		1,185
Expense waivers		(158	)
Transfer agent fee waivers		(114	)
Commission recapture		(2	)
Custodian fee offset		—
Total waivers and fees paid indirectly		(274	)
Total expenses, net		911
Net investment income		1,225
Net Realized Loss on Investments and Other Financial Instruments:
Net realized loss on investments in securities		(30,748	)
Net realized gain on futures and written options		105	*
Net Realized Loss on Investments and Other Financial Instruments		(30,643	)
Net Changes in Unrealized Appreciation of Investments and Other Financial Instruments:
Net unrealized appreciation of investments		19,993
Net unrealized appreciation of futures and written options		170
Net Changes in Unrealized Appreciation of Investments and Other Financial Instruments		20,163
Net Loss on Investments and Other Financial Instruments		(10,480	)
Net Decrease in Net Assets Resulting from Operations	$	(9,255	)

^* Realized gains on written options were $153.

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

8

The Hartford Disciplined Equity Fund

Statement of Changes in Net Assets

(000’s Omitted)

	For the Six-Month
	Period Ended			For the
	April 30, 2009			Year Ended
	(Unaudited)			October 31, 2008
Operations:
Net investment income	$	1,225		$	1,270
Net realized loss on investments and other financial instruments		(30,643	)		(23,436	)
Net unrealized appreciation (depreciation) of investments and other financial instruments		20,163			(97,417	)
Net decrease in net assets resulting from operations		(9,255	)		(119,583	)
Distributions to Shareholders:
From net investment income
Class A		(511	)		(266	)
Class R3		—			—
Class R4		(1	)		—
Class R5		—			—
Class Y		(828	)		(754	)
Total distributions		(1,340	)		(1,020	)
Capital Share Transactions:
Class A		(8,612	)		(24,705	)
Class B		(2,245	)		(9,365	)
Class C		(1,701	)		(3,758	)
Class R3		(3	)		6
Class R4		37			1
Class R5		—			—
Class Y		(444	)		(234	)
Net decrease from capital share transactions		(12,968	)		(38,055	)
Net decrease in net assets		(23,563	)		(158,658	)
Net Assets:
Beginning of period		186,090			344,748
End of period	$	162,527		$	186,090
Accumulated undistributed net investment income	$	813		$	928

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

9

The Hartford Disciplined Equity Fund

Notes to Financial Statements

April 30, 2009 (Unaudited)
(000’s Omitted)

1.	Organization:
	The Hartford Mutual Funds, Inc. (“Company”) is an open-end management investment company comprised of fifty-two portfolios. Financial statements for The Hartford Disciplined Equity Fund (the “Fund”), a series of the Company, are included in this report.
	The Company is organized under the laws of the State of Maryland and is registered with the Securities and Exchange Commission (“SEC”) under the Investment Company Act of 1940, as amended (“1940 Act”). The Fund is a diversified open-end management investment company.
	Class A shares are sold with a front-end sales charge of up to 5.50%. Class B shares are sold with a contingent deferred sales charge which is assessed on the lesser of the per share net asset value (“NAV”) of the shares at the time of redemption or the original purchase price, and declines from up to 5.00% to zero depending on the period of time the shares are held. Class C shares are sold with a contingent deferred sales charge of up to 1.00% on shares redeemed within twelve months of purchase. Classes R3, R4, R5 shares, which are offered to employer-sponsored retirement plans, and Class Y shares, which are sold to certain eligible institutional investors, are sold without a sales charge. All classes of shares have identical voting, redemption, dividend, liquidation and other rights and the same terms and conditions, with the exceptions that each class may have different expenses, which may affect performance, and except that Class B shares automatically convert to Class A shares after 8 years.
	Effective at the close of business on September 30, 2009 (the “Close Date”), no new or additional investments will be allowed in Class B shares of The Hartford Mutual Funds (including investments through any systematic investment plan). After the Close Date, existing shareholders of Class B shares may continue to hold their Class B shares, exchange their Class B shares for Class B shares of another Hartford Mutual Fund (as permitted by existing exchange privileges), and redeem their Class B shares as described in the Fund’s prospectus. Reinstatement privileges with respect to Class B shares will continue under the current policy. If you have chosen to reinvest capital gains and dividends, any such capital gains or dividends on Class B shares will continue to be reinvested in Class B shares of the Fund. For Class B shares outstanding as of the Close Date, all Class B share attributes, including the 12b-1 fee, contingent deferred sales charge schedule, and conversion to Class A shares remain unchanged.
2.	Significant Accounting Policies:
	The following is a summary of significant accounting policies of the Fund, which are in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”).

a)	Security Transactions and Investment Income—Security transactions are recorded on the trade date (the date the order to buy or sell is executed). Security gains and losses are determined on the basis of identified cost.
	Dividend income is accrued as of the ex-dividend date, except that certain dividends for foreign securities where the ex-dividend date may have passed are recorded as soon as the Fund is informed of the dividend in the exercise of reasonable diligence. Interest income, including amortization of premium and accretion of discounts, is accrued on a daily basis.
b)	Security Valuation—The Fund generally uses market prices in valuing portfolio securities. If market prices are not readily available or are deemed unreliable, the Fund will use the fair value of the security as determined in good faith under policies and procedures established by and under the supervision of the Fund’s Board of Directors. Market prices may be deemed unreliable, for example, if a security is thinly traded or if an event has occurred after the close of the security’s primary markets, but before the close of the New York Stock Exchange (the “Exchange”) (normally 4:00 p.m. Eastern Time, referred to as the “Valuation Time”) that is expected to affect the value of the portfolio security. The circumstances in which the Fund may use fair value pricing include, among others: (i) the occurrence of events that are significant to a particular issuer, such as mergers, restructuring or defaults; (ii) the occurrence of events that are significant to an entire market, such as natural disasters in a particular region or governmental actions; (iii) trading

10

	restrictions on securities; (iv) thinly traded securities and (v) market events such as trading halts and early market closings. In addition, with respect to the valuation of stocks primarily traded on foreign markets, the Fund uses a fair value pricing service approved by the Fund’s Board of Directors, which employs quantitative models that evaluate changes in the value of foreign market proxies (e.g., futures contracts, ADR’s, exchange traded funds (“ETF’s”)) after the close of the foreign markets but before the close of the Exchange. Securities that are primarily traded on foreign markets may trade on days that are not business days of the Fund. The value of the foreign securities in which the Fund invests may change on days when a shareholder will not be able to purchase or redeem shares of the Fund. Fair value pricing is subjective in nature and the use of fair value pricing by the Fund may cause the NAV of its shares to differ significantly from the NAV that would have been calculated using market prices at the close of the exchange on which a portfolio security is primarily traded but before the close of the Exchange. There can be no assurance that the Fund could obtain the fair value assigned to a security if the Fund were to sell the security at approximately the time at which the Fund determines its NAV.
	Securities of foreign issuers and non-dollar securities are translated from the local currency into U.S. dollars using prevailing exchange rates.
	Options contracts on securities, currencies, indexes, futures contracts, commodities and other instruments shall be valued at their most recent sales price at the Valuation Time on the Primary Market on which the instrument is primarily traded. If the instrument did not trade on the Primary Market, it may be valued at the most recent sales price at the Valuation Time on another exchange or market where it did trade.
	Futures contracts are valued at the most recent settlement price reported by an exchange on which, over time, they are traded most extensively. If a settlement price is not available, futures contracts will be valued at the most recent trade price as of the Valuation Time. If there were no trades, the contract shall be valued at the mean of the closing bid/ask prices as of the Valuation Time.
	Financial instruments for which prices are not available from an independent pricing service are valued using market quotations obtained from one or more dealers that make markets in securities in accordance with procedures established by the Fund’s Board of Directors.
	A forward currency contract shall be valued based on the price of the underlying currency at the prevailing interpolated exchange rate, which is a combination of the spot currency rate and the forward currency rate. Spot currency rates and forward currency rates are obtained from an independent pricing service on a daily basis not more than one hour before the Valuation Time.
	Other derivative or contractual type instruments shall be valued using market prices if such instruments trade on an exchange or market. If such instruments do not trade on an exchange or market, such instruments shall be valued at a price at which the counterparty to such contract would repurchase the instrument. In the event that the counterparty cannot provide a price, such valuation may be determined in accordance with procedures established by the Fund’s Board of Directors.
c)	Securities Lending—The Fund may lend its securities to certain qualified brokers who pay the Fund negotiated lender fees. The loans are fully collateralized at all times with cash and/or U.S. Government Securities and/or repurchase agreements. The cash collateral is then invested in short-term money market instruments. The repurchase agreements are fully collateralized by U.S. Government Securities. The adequacy of the collateral for securities on loan is monitored on a daily basis. For instances where the market value of collateral falls below the market value of the securities out on loan, such collateral is supplemented on the following business day.
	While securities are on loan, the Fund is subject to the following risks: 1) that the borrower may default on the loan and that the collateral could be inadequate in the event the borrower defaults, 2) that the earnings on the collateral invested may not be sufficient to pay fees incurred in connection with the loan, 3) that the principal value of the collateral invested may decline and may not be sufficient to pay back the borrower for the amount of the collateral posted, 4) that

11

The Hartford Disciplined Equity Fund

Notes to Financial Statements—(continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

	the borrower may use the loaned securities to cover a short sale which may place downward pressure on the market prices of the loaned securities, 5) that return of loaned securities could be delayed and could interfere with portfolio management decisions and 6) that any efforts to recall the securities for purposes of voting a proxy may not be effective. The Fund had no securities out on loan as of April 30, 2009.
d)	Joint Trading Account—Pursuant to an exemptive order issued by the SEC, the Fund may transfer uninvested cash balances into a joint trading account managed by Wellington Management Company, LLP (“Wellington”). These balances may be invested in one or more repurchase agreements and/or short-term money market instruments.
e)	Repurchase Agreements — A repurchase agreement is an agreement by which the seller of a security agrees to repurchase the security sold at a mutually agreed upon time and price. At the time the Fund enters into a repurchase agreement, the value of the underlying collateral security(ies), including accrued interest, will be equal to or exceed the value of the repurchase agreement. Securities that serve to collateralize the repurchase agreement are held by the Fund’s custodian in book entry or physical form in the custodial account of the Fund or in a third party custodial account. Repurchase agreements are valued at cost plus accrued interest. The Fund, as shown on the Schedule of Investments, had outstanding repurchase agreements as of April 30, 2009.
f)	Fund Share Valuation and Dividend Distributions to Shareholders—Orders for the Fund’s shares are executed in accordance with the investment instructions of the shareholders. The NAV of the Fund’s shares is determined as of the close of each business day of the Exchange. The NAV is determined separately for each class of the Fund by dividing the Fund’s net assets attributable to that class by the number of shares of the class outstanding. Orders for the purchase of the Fund’s shares prior to the close of the Exchange on any day on which the Exchange is open for business are priced at the NAV determined as of the close of the Exchange. Orders after the close of the Exchange, or on a day on which the Exchange and/or the Fund is not open for business, are priced at the next determined NAV.
	The Fund intends to distribute substantially all of its net investment income and net realized capital gains to shareholders no less frequently than once a year. Normally, dividends from net investment income are declared and paid annually. Dividends are paid on shares beginning on the business day after the day when the funds used to purchase the shares are collected by the transfer agent for the Fund. Unless shareholders specify otherwise, all dividends will be automatically reinvested in additional full or fractional shares of the Fund.
	Distributions from net investment income, realized capital gains and capital are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP with respect to character and timing. These differences include but are not limited to foreign currency gains and losses, losses deferred due to wash sales adjustments, adjustments related to Passive Foreign Investment Companies and certain derivatives, and excise tax regulations. Permanent book and federal income tax basis differences relating to shareholder distributions will result in reclassifications to certain of the Fund’s capital accounts (see Federal Income Taxes: Reclassification of Capital Accounts footnote).
g)	Illiquid and Restricted Securities—The Fund is permitted to invest up to 15% of its net assets in illiquid securities. “Illiquid Securities” are those that may not be sold or disposed of in the ordinary course of business within seven days, at approximately the price used to determine the Fund’s NAV. The Fund may not be able to sell illiquid securities or other investments when its sub-adviser considers it desirable to do so or may have to sell such securities or investments at a price that is lower than the price that could be obtained if the securities or investments were more liquid. A sale of illiquid securities or other investments may require more time and may result in higher dealer discounts and other selling expenses than does the sale of those that are liquid. Illiquid securities and investments also may be more difficult to value, due to the unavailability of reliable market quotations for such securities or investments, and investment in them may have an adverse impact on the Fund’s NAV. The Fund may also purchase certain restricted securities, commonly known as Rule 144A securities, that can be resold to institutions and which may be determined to be liquid pursuant to policies and guidelines established by the Fund’s Board of Directors. The Fund had no illiquid or restricted securities as of April 30, 2009.

12

h)	Use of Estimates—The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and the reported amounts of income and expenses during the period. Operating results in the future could vary from the amounts derived from management’s estimates.
i)	Financial Accounting Standards Board Financial Accounting Standards No. 157—Effective November 1, 2008, the Fund adopted Financial Accounting Standards Board (“FASB”) Statement of Financial Accounting Standards No. 157, “Fair Value Measurements” (“FAS 157”). This standard clarifies the definition of fair value for financial reporting, establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements. Fair value is defined under FAS 157 as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Under FAS 157, a fair value measurement should reflect all of the assumptions that market participants would use in pricing the asset or liability, including assumptions about the risk inherent in a particular valuation technique, the effect of a restriction on the sale or use of an asset, and the risk of nonperformance.
	Various inputs are used in determining the value of the Fund’s investment. These inputs are summarized, per FAS 157, into three broad hierarchy levels. This hierarchy is based on whether the valuation inputs are observable or unobservable. These levels are:

• Level 1 — Quoted prices in active markets for identical securities. Level 1 includes exchange-traded instruments such as domestic equities, some foreign equities, options, futures, mutual funds, ETF’s, and rights and warrants.

• Level 2 — Observable inputs other than Level 1 prices, such as quoted prices for similar securities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the security. Level 2 includes debt securities that are traded less frequently than exchange-traded instruments and that are valued using third party pricing services and foreign equities, whose value is determined using a multi-factor regression model with inputs that are observable in the market; and money market instruments, which are carried at amortized cost.

• Level 3 — Significant unobservable inputs that are supported by little or no market activity. Level 3 includes financial instruments whose values are determined using broker quotes and require significant management judgment or estimation. This category includes broker quoted securities, long dated OTC options and securities where trading has been halted or there are certain restrictions on trading. While these securities are priced using unobservable inputs, the valuation of these securities reflects the best available data and management believes the prices are a good representation of exit price.

Individual securities within any of the above mentioned asset classes may be assigned a different hierarchical level than those presented above, as individual circumstances dictate.

FAS 157 also requires that a roll forward reconciliation be shown for all Level 3 securities from the beginning of the reporting period to the end of the reporting period. Part of this reconciliation includes transfers in and/or out of Level 3. For purposes of this reconciliation, transfers in are shown at the end of period fair value and transfers out are shown at the beginning of period fair value. During the six-month period ended April 30, 2009, the Fund held no Level 3 securities.

Refer to the valuation hierarchy levels summary found following the Schedule of Investments.

FASB Staff Position No. 157-4—In April 2009, FASB released FASB Staff Position No. 157-4, “Determining Fair Value When the Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly” (“FSP FAS 157-4”). FSP FAS 157-4 provides additional guidance on determining whether a market for a financial asset is not active and a transaction is not distressed when measuring fair value under FAS 157. The FSP also requires additional disclosure detail on debt and equity securities by major investment categories. FSP FAS 157-4 is effective for interim and annual periods ending after June 15, 2009. At this time,

13

The Hartford Disciplined Equity Fund

Notes to Financial Statements—(continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

	management is evaluating the implications of FSP FAS 157-4 and does not believe it will impact valuation but will require additional disclosure. This additional disclosure has not yet been implemented.
j)	Financial Accounting Standards Board Financial Accounting Standards No. 161—In March 2008, the FASB released Statement of Financial Accounting Standards No. 161, “Disclosures about Derivative Instruments and Hedging Activities” (“FAS 161”). FAS 161 requires companies to disclose information detailing the objectives and strategies for using derivative instruments, the level of derivative activity entered into by the company and any credit risk-related contingent features of the agreements. The application of FAS 161 is required for fiscal years and interim periods beginning after November 15, 2008. At this time, management is evaluating the implications of FAS 161 and has not yet implemented the new disclosure standard.
k)	Indemnifications: Under the Company’s organizational documents, the Company shall indemnify its officers and directors to the full extent required or permitted under Maryland General Corporation Law and the federal securities law. In addition, the Company, on behalf of the Fund, may enter into contracts that contain a variety of indemnifications. The Company’s maximum exposure under these arrangements is unknown. However, the Company has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote.

3. Futures and Options:

Futures and Options Transactions—The Fund may invest in futures and options contracts in order to gain exposure to or protect against changes in the market. A futures contract is an agreement between two parties to buy and sell a security at a set price on a future date. When the Fund enters into such futures contracts, it is required to deposit with a futures commission merchant an amount of “initial margin” of cash, commercial paper or U.S. Treasury Bills. Subsequent payments, called variation margin, to and from the broker, are made on a daily basis as the price of the underlying security fluctuates, making the long and short positions in the futures contract more or less valuable (i.e., mark-to-market), which results in an unrealized gain or loss to the Fund.

At any time prior to the expiration of the futures contract, the Fund may close the position by taking an opposite position, which would effectively terminate the position in the futures contract. A final determination of variation margin is then made, additional cash is required to be paid by or released to the Fund and the Fund realizes a gain or loss.

The use of futures contracts involves elements of market risk, which may exceed the amounts recognized in the Statement of Assets and Liabilities. Changes in the value of the futures contracts may decrease the effectiveness of the Fund’s strategy and potentially result in loss. The Fund, as shown on the Schedule of Investments, had outstanding futures contracts as of April 30, 2009.

The premium paid by the Fund for the purchase of a call or put option is included in the Fund’s Statement of Assets and Liabilities as an investment and subsequently “marked-to-market” through net unrealized appreciation (depreciation) of options to reflect the current market value of the option as of the end of the reporting period.

The Fund may write (sell) covered options. “Covered” means that so long as the Fund is obligated as the writer of an option, it will own either the underlying securities or currency or an option to purchase or sell the same underlying securities or currency having an expiration date of the covered option and an exercise price equal to or less than the exercise price of the covered option, or will pledge cash or other liquid securities having a value equal to or greater than the fluctuating market value of the option securities or currencies. The Fund receives a premium for writing a call or put option, which is recorded on the Fund’s Statement of Assets and Liabilities and subsequently “marked-to-market” through net unrealized appreciation (depreciation) of options. There is a risk of loss from a change in the value of such options, which may exceed the related premiums received. Transactions involving written option contracts for the Fund during the six-month period ended April 30, 2009, are summarized below:

14

Options Contract Activity During the Six-Month Period Ended April 30, 2009

Call Options Written During the Period	Number of Contracts*			Premium Amounts
Beginning of the period		—		$	—
Written		2,344			153
Expired		(1,559	)		(101	)
Closed		(285	)		(17	)
Exercised		—			—
End of Period		500		$	35

Put Options Written During the Period	Number of Contracts*			Premium Amounts
Beginning of the period		—		$	—
Written		1,924			101
Expired		(1,113	)		(61	)
Closed		(192	)		(12	)
Exercised		(228	)		(7	)
End of Period		391		$	21

* The number of contracts does not omit 000’s.

4. Federal Income Taxes:

a)

Federal Income Taxes—For federal income tax purposes, the Fund intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code (“IRC”) by distributing substantially all of its taxable net investment income and net realized capital gains to its shareholders and otherwise complying with the requirements of regulated investment companies. The Fund has distributed substantially all of its income and capital gains in prior years and the Fund intends to distribute substantially all of its income and gains during the calendar year ending December 31, 2009. Accordingly, no provision for federal income or excise taxes has been made in the accompanying financial statements. Distributions from short-term capital gains are treated as ordinary income distributions for federal income tax purposes.

b)

The tax character of distributions paid by the Fund for the periods indicated is as follows (as adjusted for dividends payable):

	For the Year Ended		For the Year Ended
	October 31, 2008		October 31, 2007
Ordinary Income	$	1,020	$	2,100

As of October 31, 2008, the Fund’s components of distributable earnings (deficit) on a tax basis were as follows:

	Amount
Undistributed Ordinary Income	$	928
Accumulated Capital Losses*	$	(33,649	)
Unrealized Depreciation†	$	(49,816	)
Total Accumulated Deficit	$	(82,537	)

*	The Fund has capital loss carryforwards that are identified in the Capital Loss Carryforward note that follows.
†	The differences between book-basis and tax-basis unrealized appreciation (depreciation) are attributable to the tax deferral of wash sales losses, the mark-to-market adjustment for certain derivatives in accordance with IRC Sec. 1256, the mark to market for Passive Foreign Investment Companies and basis differences in real estate investment trusts.

15

The Hartford Disciplined Equity Fund

Notes to Financial Statements—(continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

c)

Reclassification of Capital Accounts—In accordance with American Institute of Certified Public Accountants (AICPA) Statement of Position 93-2, Determination, Disclosure, and Financial Statement Presentation of Income, Capital Gain, and Return of Capital Distributions by Investment Companies, the Fund has recorded reclassifications in its capital accounts. These reclassifications had no impact on the NAV of the Fund. The reclassifications are a result of permanent differences between GAAP and tax accounting for such items as net operating losses that reduce distribution requirements. Adjustments are made to reflect the impact these items have on current and future distributions to shareholders. Therefore, the source of the Fund’s distributions may be shown in the accompanying Statement of Changes in Net Assets as from net investment income, from net realized gains on investments or from capital depending on the type of book and tax differences that exist. As of October 31, 2008, the Fund recorded reclassifications to decrease undistributed net investment income by $8, increase accumulated net realized gain by $7, and increase paid in capital by $1.

d)

Capital Loss Carryforward—At October 31, 2008 (tax-year-end), the Fund had capital loss carryforwards for U.S. federal income tax purposes of approximately:

Year	Amount
2011	$	10,424
2016		23,225
Total	$	33,649

e) Financial Accounting Standards Board Interpretation No. 48—On July 13, 2006, the FASB released FASB Interpretation No. 48 “Accounting for Uncertainty in Income Taxes” (“FIN 48”). FIN 48 provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. The Fund adopted FIN 48 for fiscal years beginning after December 15, 2006. Management has evaluated the implications of FIN 48 for all open tax years (tax years ended October 31, 2006 — 2008) and has determined there is no impact to the Fund’s financial statements.

5. Expenses:

a)

Investment Management Agreements—Hartford Investment Financial Services, LLC (“HIFSCO”) serves as investment manager to the Fund pursuant to an Investment Management Agreement with The Hartford Mutual Funds, Inc. As investment manager, HIFSCO has overall investment supervisory responsibility for the Fund. In addition, HIFSCO provides administrative personnel, services, equipment, facilities and office space for proper operation of the Fund. HIFSCO has contracted with Wellington for the provision of day-to-day investment management services to the Fund in accordance with the Fund’s investment objective and policies. The Fund pays a fee to HIFSCO, a portion of which may be used to compensate Wellington.

The schedule below reflects the rates of compensation paid to HIFSCO for investment management services rendered during the six-month period ended April 30, 2009; the rates are accrued daily and paid monthly:

Average Daily Net Assets	Annual Fee
On first $500 million		0.7500	%
On next $500 million		0.6750	%
On next $4 billion		0.6250	%
On next $5 billion		0.6225	%
Over $10 billion		0.6200	%

16

b) Accounting Services Agreement—Pursuant to the Fund Accounting Agreement between Hartford Life Insurance Company (“HLIC”) and the Fund, HLIC provides accounting services to the Fund and receives monthly compensation on the Fund’s average net assets. The Fund’s accounting service fees are accrued daily and paid monthly.

Average Daily Net Assets	Annual Fee
On first $5 billion		0.016	%
On next $5 billion		0.014	%
Over $10 billion		0.012	%

c) Operating Expenses —Allocable expenses incurred by the Company are allocated to each Fund and allocated to classes within the Fund in proportion to the average daily net assets of the Fund and each class, except where allocation of certain expenses is more fairly made directly to the Fund or to specific classes within a Fund. During the six-month period ended April 30, 2009, HIFSCO has contractually limited the total operating expenses of this Fund, exclusive of taxes, interest expense, brokerage commissions, certain distribution expenses and extraordinary expenses as follows:

Class A	Class B			Class C			Class R3			Class R4			Class R5			Class Y
1.35%		2.10	%		2.10	%		1.60	%		1.30	%		1.00	%		0.95	%

d)

Fees Paid Indirectly—The Fund has entered into agreements with State Street Global Markets, LLC and Russell Implementation Services Inc. to partially recapture non-discounted trade commissions. Such rebates are used to pay a portion of the Fund’s expenses. In addition, the Fund’s custodian bank has also agreed to reduce its fees when the Fund maintains cash on deposit in the non-interest-bearing custody account. For the six-month period ended April 30, 2009, these amounts are included in the Statement of Operations.

The ratio of expenses to average net assets in the accompanying financial highlights excludes the reduction in expenses related to fees paid indirectly. Had the fees paid indirectly been included, the annualized expense ratio for the periods listed below would have been as follows:

	Annualized
	Six-Month
	Period			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended
	Ended April			October 31,			October 31,			October 31,			October 31,			October 31,
	30, 2009			2008			2007			2006			2005			2004
Class A Shares		1.14	%		1.40	%		1.40	%		1.39	%		1.38	%		1.44	%
Class B Shares		1.54			1.94			2.08			2.07			2.13			2.14
Class C Shares		2.01			2.12			2.09			2.09			2.10			2.09
Class R3 Shares		1.53			1.65			1.65	*
Class R4 Shares		1.30			1.28			1.34	†
Class R5 Shares		0.99			0.99			1.05	‡
Class Y Shares		0.89			0.88			0.88			0.88			0.89			0.87

*	From December 22, 2006 (commencement of operations), through October 31, 2007
†	From December 22, 2006 (commencement of operations), through October 31, 2007
‡	From December 22, 2006 (commencement of operations), through October 31, 2007

e)

Distribution and Service Plan for Class A, B, C, R3 and R4 Shares—HIFSCO is the principal underwriter and distributor of the Fund. HIFSCO is engaged in distribution activities, which include marketing and distribution of shares through broker-dealers, financing distribution costs and maintaining financial books and records. For the six-month period ended April 30, 2009, HIFSCO received front-end load sales charges of $50 and contingent deferred sales charges of $7 from the Fund.

The Fund has adopted Distribution and Service Plans in accordance with Rule 12b-1 of the Investment Company Act of 1940, as amended, to compensate the distributor (HIFSCO) for activities intended to result in the sale and distribution of

17

The Hartford Disciplined Equity Fund
Notes to Financial Statements—(continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

	Classes A, B, C, R3 and R4 shares and for providing services for shareholders. The Rule 12b-1 plan applicable to Class A shares of the Funds provides for payment of a Rule 12b-1 fee of up to 0.35% of average daily net assets; however, the Board of Directors has currently authorized 12b-1 payments of only up to 0.25%. Some or all of the fee may be used for shareholder servicing expenses with the remainder used for distribution expenses. Some or the entire Rule 12b-1 fee for Class B shares may be remitted to broker-dealers for distribution and/or shareholder account services. Under the Class B Plan, the Fund pays the distributor 1.00% of the average daily net assets of Class B shares that are outstanding for 8 years or less, 0.25% of which is a fee for services provided to existing shareholders with the remainder used for distribution expenses. After eight years, Class B shares convert to Class A shares. Upon conversion to Class A shares, the Class A plan described above will apply to those shares. Under the Class C Plan, the Fund pays the distributor 1.00% of the average daily net assets of Class C shares outstanding, 0.25% of which is intended as a fee for services provided to existing shareholders with the remainder used for distribution expenses. For Class C shares, some or the entire fee may be remitted to broker-dealers for distribution and/or shareholder account services. Class R3 shares have a distribution fee of 0.50% and Class R4 shares have a distribution fee of 0.25%. For Classes R3 and R4 shares, some or the entire fee may be remitted to broker dealers for distribution and/or shareholder account services. The Fund’s 12b-1 fees are accrued daily and paid monthly.
	For the six-month period ended April 30, 2009, total sales commissions paid to affiliated brokers/dealers of The Hartford for distributing the Fund’s shares were $6. These commissions are in turn paid to sales representatives of the broker/dealers.
f)	Other Related Party Transactions—Certain officers of the Fund are directors and/or officers of HIFSCO and/or The Hartford or its subsidiaries. For the six-month period ended April 30, 2009, a portion of the Fund’s chief compliance officer’s salary was paid by the Fund in an amount, which rounds to zero. Hartford Administrative Services Company (“HASCO”), an indirect wholly owned subsidiary of The Hartford, provides transfer agent services to the Fund. HASCO was compensated $172 for providing such services. These fees are accrued daily and paid monthly.
g)	Payments from Affiliate:
	The total return in the accompanying financial highlights includes payment from affiliates. Had the payment from affiliates been excluded, the total return for the periods listed below would have been as follows:

							Impact from Payment
							from Affiliate for
	Impact from			Total Return			Transfer Agent
	Payment from			Excluding			Allocation			Total Return
	Affiliate for SEC			Payment from			Methodology			Excluding Payment
	Settlement for the			Affiliate for the			Reimbursements for			from Affiliate for
	Year Ended			Year Ended			the Year Ended			the Year Ended
	October 31, 2007			October 31, 2007			October 31, 2004			October 31, 2004
Class A		0.08	%		13.78	%		—	%		—	%
Class B		0.08			13.05			—			—
Class C		0.08			12.98			0.01			5.24
Class Y		0.07			14.37			—			—

6.	Affiliate Holdings:
	As of April 30, 2009, affiliates of The Hartford had ownership of shares in the Fund as follows:

	Shares
Class R3		1
Class R4		1
Class R5		1

18

7.	Investment Transactions:
	For the six-month period ended April 30, 2009, the Fund’s aggregate purchases and sales of investment securities (excluding short-term investments) were as follows:

	Amount
Cost of Purchases Excluding U.S. Government Obligations	$	58,832
Sales Proceeds Excluding U.S. Government Obligations		71,168

8.	Capital Share Transactions:
	The following information is for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	For the Six-Month Period Ended April 30, 2009												For the Year Ended October 31, 2008
			Shares					Shares							Shares					Shares
			Issued for					Issued		Net Increase					Issued for					Issued		Net Increase
	Shares		Reinvested		Shares			from		(Decrease) of			Shares		Reinvested		Shares			from		(Decrease) of
	Sold		Dividends		Redeemed			Merger		Shares			Sold		Dividends		Redeemed			Merger		Shares
Class A
Shares		704		57		(1,813	)		—		(1,052	)		825		18		(2,793	)		—		(1,950	)
Amount	$	6,022	$	494	$	(15,128	)	$	—	$	(8,612	)	$	10,605	$	259	$	(35,569	)	$	—	$	(24,705	)
Class B
Shares		35		—		(316	)		—		(281	)		68		—		(830	)		—		(762	)
Amount	$	285	$	—	$	(2,530	)	$	—	$	(2,245	)	$	825	$	—	$	(10,190	)	$	—	$	(9,365	)
Class C
Shares		113		—		(329	)		—		(216	)		102		—		(414	)		—		(312	)
Amount	$	920	$	—	$	(2,621	)	$	—	$	(1,701	)	$	1,215	$	—	$	(4,973	)	$	—	$	(3,758	)
Class R3
Shares		—		—		—			—		—			—		—		—			—		—
Amount	$	2	$	—	$	(5	)	$	—	$	(3	)	$	6	$	—	$	—		$	—	$	6
Class R4
Shares		4		—		—			—		4			—		—		—			—		—
Amount	$	36	$	1	$	—		$	—	$	37		$	1	$	—	$	—		$	—	$	1
Class R5
Shares		—		—		—			—		—			—		—		—			—		—
Amount	$	—	$	—	$	—		$	—	$	—		$	—	$	—	$	—		$	—	$	—
Class Y
Shares		710		93		(806	)		—		(3	)		665		51		(860	)		—		(144	)
Amount	$	5,854	$	829	$	(7,127	)	$	—	$	(444	)	$	8,318	$	754	$	(9,306	)	$	—	$	(234	)

The following reflects the conversion of Class B Shares into Class A Shares (reflected as Class A Shares issued and Class B shares redeemed) for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	Shares		Dollars
For the Six-Month Period Ended April 30, 2009		106	$	895
For the Year Ended October 31, 2008		229	$	3,024

9.

Line of Credit:

The Fund is one of several Hartford Funds that participate in a $500 million committed revolving line of credit facility. The facility is to be used for temporary or emergency purposes. Under the arrangement, the Fund is required to own securities having a market value in excess of 300% of the total bank borrowings. The interest rate on borrowings varies depending on the nature of the loan. The facility also requires a fee to be paid based on the amount of the commitment. During the six-month period ended April 30, 2009, the Fund did not have any borrowings under this facility.

19

The Hartford Disciplined Equity Fund
Notes to Financial Statements—(continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

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

20

The Hartford Disciplined Equity Fund

Financial Highlights—(Unaudited)

	- Selected Per-Share Data - (a)																												- Ratios and Supplemental Data -
																																		Ratio of			Ratio of			Ratio of
																																		Expenses			Expenses			Expenses
																																		to Average			to Average			to Average
																																		Net Assets			Net Assets			Net Assets
																																		Before			After			After
								Net																										Waivers			Waivers			Waivers
								Realized																										and			and			and
								and Un-									Distrib-							Net										Reimburse-			Reimburse-			Reimburse-			Ratio of
			Net			Pay-		realized						Dividends			utions							Increase			Net					Net		ments and			ments and			ments and			Net Invest-			Port-
	Net Asset		Invest-			ments		Gain						from Net			from		Distri-					(Decrease)			Asset					Assets at		Including			Including			Excluding			ment			folio
	Value at		ment			from		(Loss) on			Total from			Invest-			Realized		butions		Total			in Net			Value at					End of		Expenses			Expenses			Expenses			Income to			Turn-
	Beginning		Income			(to)		Invest-			Investment			ment			Capital		from		Distri-			Asset			End of		Total			Period		not Subject			not Subject			not Subject			Average			over
Class	of Period		(Loss)			Affiliate		ments			Operations			Income			Gains		Capital		butions			Value			Period		Return(b)			(000’s)		to Cap(c)			to Cap(c)			to Cap(c)			Net Assets			Rate(d)
For the Six-Month Period Ended April 30, 2009 (Unaudited) (e)
A	$	9.31	$	0 .06		$	—	$	(0 .50	)	$	(0 .44	)	$	(0 .05	)	$	—	$	—	$	(0 .05	)	$	(0 .49	)	$	8.82		(4 .68	)%(f)	$	78,320		1 .64	%(g)		1 .14	%(g)		1 .14	%(g)		1 .52	%(g)		36	%
B		8.80		0 .05			—		(0 .48	)		(0 .43	)		—			—		—		—			(0 .43	)		8.37		(4 .89	) (f)		8,992		2 .74	(g)		1 .54	(g)		1 .54	(g)		1 .13	(g)		—
C		8.80		0 .03			—		(0 .48	)		(0 .45	)		—			—		—		—			(0 .45	)		8.35		(5 .11	) (f)		11,187		2 .27	(g)		2 .01	(g)		2 .01	(g)		0 .65	(g)		—
R3		9.56		0 .05			—		(0 .52	)		(0 .47	)		(0 .05	)		—		—		(0 .05	)		(0 .52	)		9.04		(4 .91	) (f)		7		2 .03	(g)		1 .53	(g)		1 .53	(g)		1 .17	(g)		—
R4		9.60		0 .06			—		(0 .52	)		(0 .46	)		(0 .11	)		—		—		(0 .11	)		(0 .57	)		9.03		(4 .75	) (f)		46		1 .34	(g)		1 .30	(g)		1 .30	(g)		1 .29	(g)		—
R5		9.62		0 .07			—		(0 .51	)		(0 .44	)		(0 .11	)		—		—		(0 .11	)		(0 .55	)		9.07		(4 .56	) (f)		7		1 .00	(g)		1 .00	(g)		1 .00	(g)		1 .66	(g)		—
Y		9.64		0 .08			—		(0 .53	)		(0 .45	)		(0 .12	)		—		—		(0 .12	)		(0 .57	)		9.07		(4 .54	) (f)		63,968		0 .89	(g)		0 .89	(g)		0 .89	(g)		1 .76	(g)		—
For the Year Ended October 31, 2008
A		14.91		0 .05			—		(5 .63	)		(5 .58	)		(0 .02	)		—		—		(0 .02	)		(5 .60	)		9.31		(37 .46	)		92,476		1 .44			1 .40			1 .40			0 .36			69
B		14.16		(0 .05	)		—		(5 .31	)		(5 .36	)		—			—		—		—			(5 .36	)		8.80		(37 .85	)		11,931		2 .39			1 .95			1 .95			(0 .18	)		—
C		14.17		(0 .06	)		—		(5 .31	)		(5 .37	)		—			—		—		—			(5 .37	)		8.80		(37 .90	)		13,691		2 .13			2 .13			2 .13			(0 .36	)		—
R3		15.33		0 .01			—		(5 .78	)		(5 .77	)		—			—		—		—			(5 .77	)		9.56		(37 .64	)		11		1 .87			1 .65			1 .65			0 .12			—
R4		15.37		0 .06			—		(5 .79	)		(5 .73	)		(0 .04	)		—		—		(0 .04	)		(5 .77	)		9.60		(37 .37	)		8		1 .28			1 .28			1 .28			0 .48			—
R5		15.41		0 .10			—		(5 .81	)		(5 .71	)		(0 .08	)		—		—		(0 .08	)		(5 .79	)		9.62		(37 .23	)		7		0 .99			0 .99			0 .99			0 .77			—
Y		15.43		0 .12			—		(5 .81	)		(5 .69	)		(0 .10	)		—		—		(0 .10	)		(5 .79	)		9.64		(37 .09	)		67,966		0 .89			0 .89			0 .89			0 .88			—
For the Year Ended October 31, 2007
A		13.19		0 .04			0 .01		1 .77			1 .82			(0 .10	)		—		—		(0 .10	)		1 .72			14.91		13 .87	(h)		177,170		1 .40			1 .40			1 .40			0 .32			72
B		12.53		(0 .07	)		0 .01		1 .70			1 .64			(0 .01	)		—		—		(0 .01	)		1 .63			14.16		13 .14	(h)		29,968		2 .31			2 .08			2 .08			(0 .35	)		—
C		12.54		(0 .07	)		0 .01		1 .70			1 .64			(0 .01	)		—		—		(0 .01	)		1 .63			14.17		13 .07	(h)		26,479		2 .09			2 .09			2 .09			(0 .37	)		—
R3(i)		13.89		—			—		1 .44			1 .44			—			—		—		—			1 .44			15.33		10 .37	(f)		11		1 .65	(g)		1 .65	(g)		1 .65	(g)		(0 .03	) (g)		—
R4(j)		13.89		0 .03			—		1 .45			1 .48			—			—		—		—			1 .48			15.37		10 .66	(f)		11		1 .34	(g)		1 .34	(g)		1 .34	(g)		0 .28	(g)		—
R5(k)		13.89		0 .07			—		1 .45			1 .52			—			—		—		—			1 .52			15.41		10 .94	(f)		11		1 .05	(g)		1 .05	(g)		1 .05	(g)		0 .57	(g)		—
Y		13.58		0 .19			0 .01		1 .75			1 .95			(0 .10	)		—		—		(0 .10	)		1 .85			15.43		14 .45	(h)		111,098		0 .88			0 .88			0 .88			0 .86			—
For the Year Ended October 31, 2006
A		11.78		0 .04			—		1 .39			1 .43			(0 .02	)		—		—		(0 .02	)		1 .41			13.19		12 .13			189,375		1 .40			1 .40			1 .40			0 .39			67
B		11.25		(0 .03	)		—		1 .31			1 .28			—			—		—		—			1 .28			12.53		11 .38			35,673		2 .30			2 .07			2 .07			(0 .28	)		—
C		11.26		(0 .04	)		—		1 .32			1 .28			—			—		—		—			1 .28			12.54		11 .37			29,153		2 .10			2 .10			2 .10			(0 .31	)		—
Y		12.12		0 .14			—		1 .40			1 .54			(0 .08	)		—		—		(0 .08	)		1 .46			13.58		12 .76			169,614		0 .89			0 .89			0 .89			0 .88			—
For the Year Ended October 31, 2005
A		10.67		0 .10			—		1 .09			1 .19			(0 .08	)		—		—		(0 .08	)		1 .11			11.78		11 .19			209,721		1 .41			1 .40			1 .40			0 .81			61
B		10.20		(0 .02	)		—		1 .08			1 .06			(0 .01	)		—		—		(0 .01	)		1 .05			11.25		10 .35			39,806		2 .34			2 .15			2 .15			0 .06			—
C		10.22		(0 .02	)		—		1 .07			1 .05			(0 .01	)		—		—		(0 .01	)		1 .04			11.26		10 .29			33,690		2 .11			2 .11			2 .11			0 .12			—
Y		10.99		0 .15			—		1 .12			1 .27			(0 .14	)		—		—		(0 .14	)		1 .13			12.12		11 .62			81,582		0 .90			0 .90			0 .90			0 .97			—
For the Year Ended October 31, 2004
A		10.08		0 .03			—		0 .57			0 .60			(0 .01	)		—		—		(0 .01	)		0 .59			10.67		5 .92			241,014		1 .46			1 .45			1 .45			0 .30			62
B		9.70		(0 .05	)		—		0 .55			0 .50			—			—		—		—			0 .50			10.20		5 .16			44,561		2 .34			2 .15			2 .15			(0 .41	)		—
C		9.71		(0 .05	)		—		0 .56			0 .51			—			—		—		—			0 .51			10.22		5 .25	(h)		40,965		2 .10			2 .10			2 .10			(0 .36	)		—
Y		10.36		(0 .01	)		—		0 .69			0 .68			(0 .05	)		—		—		(0 .05	)		0 .63			10.99		6 .55			19,578		0 .88			0 .88			0 .88			0 .95			—

(a)	Information presented relates to a share outstanding throughout the indicated period.
(b)	Assumes initial investment at net asset value at the beginning of each period, reinvestment of all distributions, the complete redemption of the investment at net asset value at the end of each period and no sales charge. Total return would be reduced if sales charges were taken into account.
(c)	Ratios do not include fees paid indirectly (See Expenses in the accompanying Notes to Financial Statements).
(d)	Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between the classes of shares issued.
(e)	Per share amounts have been calculated using average shares outstanding method.
(f)	Not annualized.
(g)	Annualized.
(h)	Total return without the inclusion of the Payments from (to) Affiliate, as noted on the Statement of Operations, can be found in Expenses in the accompanying Notes to Financial Statements.
(i)	Commenced operations on December 22, 2006.
(j)	Commenced operations on December 22, 2006.
(k)	Commenced operations on December 22, 2006.

21

The Hartford Disciplined Equity Fund

Directors and Officers (Unaudited)

The Board of Directors appoints officers who are responsible for the day-to-day operations of the Fund and who execute policies formulated by the Directors. Each director serves until his or her death, resignation, or retirement or until the next annual meeting of shareholders is held or until his or her successor is elected and qualifies.

Directors and officers who are employed by or who have a financial interest in The Hartford are considered “interested” persons of the Fund pursuant to the Investment Company Act of 1940, as amended. Each officer and three of the Fund’s directors, as noted in the chart below, are “interested” persons of the Fund. Each director serves as a director for The Hartford Mutual Funds, Inc., The Hartford Mutual Funds II, Inc., The Hartford Income Shares Fund, Inc., Hartford Series Fund, Inc., and Hartford HLS Series Fund II, Inc., which collectively consist of 100 funds. Correspondence may be sent to directors and officers c/o Hartford Mutual Funds, P.O. Box 2999, Hartford, Connecticut 06104-2999, except that correspondence to Ms. Fagely may be sent to 500 Bielenberg Drive, Woodbury, Minnesota 55125.

The table below sets forth, for each director and officer, his or her name, year of birth, current position with the Fund and date first elected or appointed to The Hartford Mutual Funds, Inc. (“MF”) and The Hartford Mutual Funds II, Inc. (“MF2”), principal occupation, and, for directors, other directorships held. The Fund’s statement of additional information contains further information on the directors and is available free of charge by calling 1-888-843-7824 or writing to Hartford Mutual Funds, P.O. Box 64387, St. Paul, MN 55164-0387.

Information on the aggregate remuneration paid to the directors of the Fund can be found in the Statement of Operations herein. The Fund pays a portion of the Chief Compliance Officer’s compensation, but does not pay salaries or compensation to any of its officers or directors who are employed by The Hartford.

Non-Interested Directors

Lynn S. Birdsong (1946) Director since 2003, Co-Chairman of the Investment Committee

Mr. Birdsong is a private investor. Since 1981, Mr. Birdsong has been a partner in Birdsong Company, an advertising specialty firm. Since 2003, Mr. Birdsong has been an independent director of The Japan Fund. From 2003 to March 2005, Mr. Birdsong was an independent director of the Atlantic Whitehall Funds. From 1979 to 2002, Mr. Birdsong was a managing director of Zurich Scudder Investments, an investment management firm. During his employment with Scudder, Mr. Birdsong was an interested director of The Japan Fund.

Robert M. Gavin, Jr. (1940) Director since 2002 (MF) and 1986 (MF2), Chairman of the Board since 2004

Dr. Gavin is an educational consultant. Prior to September 1, 2001, he was President of Cranbrook Education Community and prior to July 1996, he was President of Macalester College, St. Paul, Minnesota.

Duane E. Hill (1945) Director since 2001 (MF) and 2002 (MF2), Chairman of the Nominating Committee

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

Sandra S. Jaffee (1941) Director since 2005

Ms. Jaffee is Chairman and Chief Executive Officer of Fortent (formerly Searchspace Group), a leading provider of compliance/regulatory technology to financial institutions. Ms. Jaffee served as an Entrepreneur in Residence with Warburg Pincus, a private equity firm, from August 2004 to August 2005. From September 1995 to July 2004, Ms. Jaffee served as Executive Vice President at Citigroup, where she was President and Chief Executive Officer of Citibank’s Global Securities Services (1995-2003).

William P. Johnston (1944) Director since 2005, Chairman of the Compliance Committee

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

22

Phillip O. Peterson (1944) Director since 2002 (MF) and 2000 (MF2), Chairman of the Audit Committee

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

Lemma W. Senbet (1946) Director since 2005

Dr. Senbet is the William E. Mayer Chair Professor of Finance at the University of Maryland, Robert H. Smith School of Business. He was chair of the Finance Department during 1998-2006. Previously he was an endowed professor of finance at the University of Wisconsin-Madison. Also, he was director of the Fortis Funds from March 2000-July 2002. Dr. Senbet served the finance profession in various capacities, including as director of the American Finance Association and President of the Western Finance Association. In 2006, Dr. Senbet was inducted Fellow of Financial Management Association International for his career-long distinguished scholarship and professional service.

Interested Directors and Officers

Thomas M. Marra* (1958) Director since 2002

Mr. Marra has served as President and Chief Operating Officer of The Hartford Financial Services Group, Inc. (“The Hartford”) since 2007. Mr. Marra currently serves as Director of Hartford Life, Inc. (“HL, Inc.”). Mr. Marra served as Chief Operating Officer of Hartford Life Insurance Company, Inc. (“Hartford Life”) (2000-2008), as President of Hartford Life (2002-2008) and as Director of Hartford Life’s Investment Products Division from 1998 to 2000.

* On February 24, 2009, The Hartford and Mr. Marra determined to enter into a mutually agreed separation whereby Mr. Marra will retire, and his role as an executive officer and employee of The Hartford will terminate, effective July 3, 2009. Mr. Marra will resign his position as a Director of the Fund effective June 25, 2009.

Lowndes A. Smith (1939) Director since 2002, Co-Chairman of the Investment Committee

Mr. Smith served as Vice Chairman of The Hartford from February 1997 to January 2002, as President and Chief Executive Officer of Hartford Life, Inc. from February 1997 to January 2002, and as President and Chief Operating Officer of The Hartford Life Insurance Companies from January 1989 to January 2002. Mr. Smith serves as a Director of White Mountains Insurance Group, Ltd., One Beacon Insurance, Symetra Financial and as a Managing Director of Whittington Gray Associates.

John C. Walters* (1962) Director since 2008

Mr. Walters currently serves as Chief Executive Officer, President and Director of HL, Inc. Mr. Walters previously served as President of the U.S. Wealth Management Division of Hartford Life, Inc., as Co-Chief Operating Officer of Hartford Life Insurance Company (2007—2008) and as Executive Vice President and Director of its Investment Products Division (2000—2008). Mr. Walters also serves as Chairman of the Board, Chief Executive Officer, President and Director of Hartford Life Insurance Company and as Executive Vice President of The Hartford. In addition, Mr. Walters is Manager of HL Investment Advisors, LLC (“HL Advisors”).

* Mr. Walters previously served as President and Chief Executive Officer of the Fund (2007—2009).

Other Officers

Robert M. Arena, Jr. (1968) President and Chief Executive Officer since 2009 (served as Vice President of the Fund (2006—2009))

Mr. Arena serves as Executive Vice President of Hartford Life Insurance Company, (“Hartford Life”). Additionally, Mr. Arena is Director and Senior Vice President of Hartford Administrative Services Company, (“HASCO”), Manager, Chief Executive Officer and President of Hartford Investment Financial Services, LLC (“HIFSCO”) and HL Advisors. Prior to joining The Hartford in 2004, he was Senior Vice President in charge of Product Management for American Skandia/Prudential in the individual annuities division. Mr. Arena joined American Skandia in 1996.

Tamara L. Fagely (1958) Vice President, Treasurer and Controller since 2002 (MF) 1993 (MF2)

Ms. Fagely has been a Vice President of HASCO since 1998 and Chief Financial Officer since 2006. Currently Ms. Fagely is a Vice President of Hartford Life. She served as Assistant Vice President of Hartford Life from December 2001 through March 2005. In addition, Ms. Fagely is Controller and Chief Financial Officer of HIFSCO.

Brian Ferrell (1962) AML Compliance Officer since 2008

Mr. Ferrell has served as Assistant Vice President and AML Compliance Officer for The Hartford since 2006 and as AML Compliance Officer for HASCO and Hartford Investor Services Company, LLC (“HISC”) since 2008. Prior to joining The Hartford in 2006, Mr. Ferrell held various positions at the U.S. Department of the Treasury, (the “Treasury”), from 2001 to 2006 where he served as Chief Counsel for the Treasury’s Financial Crimes Enforcement Network, (“FinCEN”) from 2005—2006.

23

The Hartford Disciplined Equity Fund
Directors and Officers (Unaudited)—(continued)

Thomas D. Jones, III (1965) Vice President and Chief Compliance Officer since 2006

Mr. Jones serves as Chief Compliance Officer for the Hartford Mutual Funds and Vice President and Director of Securities Compliance for The Hartford. He is also Vice President of HIFSCO, HL Advisors, and Hartford Life Insurance Company. Mr. Jones joined The Hartford in 2006 from SEI Investments, where he served as Chief Compliance Officer for its mutual funds and investment advisers. Prior to joining SEI, Mr. Jones was First Vice President and Compliance Director for Merrill Lynch Investment Managers (Americas) (“MLIM”), where he worked from 1992-2004. At MLIM, Mr. Jones was responsible for the compliance oversight of various investment products, including mutual funds, wrap accounts, institutional accounts and alternative investments.

Edward P. Macdonald (1967) Vice President, Secretary and Chief Legal Officer since 2005

Mr. Macdonald serves as Assistant General Counsel and Assistant Vice President of The Hartford and Chief Legal Officer and Vice President of HIFSCO. He also serves as Vice President and Secretary of HASCO, Assistant Vice President of Hartford Life, and Chief Legal Officer, Secretary and Vice President of HL Advisors. Prior to joining The Hartford in 2005, Mr. Macdonald was Chief Counsel, Investment Management for Prudential Financial (formerly American Skandia Investment Services, Inc.). He joined Prudential in April 1999.

Vernon J. Meyer (1964) Vice President since 2006

Mr. Meyer serves as Senior Vice President of Hartford Life and as Director of its Investment Advisory Group in the Individual Markets Group segment. He also serves as Senior Vice President of HIFSCO and HL Advisors. Prior to joining The Hartford in 2004, Mr. Meyer was with MassMutual which he joined in 1987.

D. Keith Sloane (1960) Vice President since 2009

Mr. Sloane is a Senior Vice President of Hartford Life where he serves as Director of mutual fund product management for The Hartford’s mutual funds and 529 college savings businesses. Additionally, Mr. Sloane currently serves as Senior Vice President of HIFSCO, HL Advisors, and HASCO. Prior to joining The Hartford in 2007, Mr. Sloane was Director of product marketing and led the mutual fund business for Wachovia Securities (“Wachovia”) in their investment products group. Mr. Sloane joined Wachovia in 1995.

Jane Wolak (1961) Vice President since 2009

Ms. Wolak currently serves as Vice President of Hartford Life. Ms. Wolak joined Hartford Life as Vice President, Retail Product Services in May 2007. She is also Vice President of HASCO. Previously, Ms. Wolak was with Sun Life Financial where she held the position of Vice President, Service Center Operations from 2001—2007.

HOW TO OBTAIN A COPY OF THE FUND’S PROXY VOTING POLICIES AND VOTING RECORDS

A description of the policies and procedures that the Fund uses to determine how to vote proxies relating to portfolio securities and a record of how the Fund voted any proxies for the twelve-month period ended June 30, 2008 is available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov.

QUARTERLY PORTFOLIO HOLDINGS INFORMATION

The Fund files a complete schedule of portfolio holdings with the Commission for the first and third quarters of each fiscal year on Form N-Q. The Fund’s Forms are available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov. The Form N-Q may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330.

24

The Hartford Disciplined Equity Fund

Expense Example (Unaudited)

Your Fund’s Expenses

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments and contingent deferred sales charges (CDSC) (2) ongoing costs including management fees; distribution fees; and other fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the period of October 31, 2008 through April 30, 2009.

Actual Expenses

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

Hypothetical Example for Comparison Purposes

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

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads) and CDSC. Therefore, the second line 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 are equal to the Fund’s annualized expense ratios multiplied by average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

	Actual return						Hypothetical (5% return before expenses)
					Expenses paid						Expenses paid					Days in
					during the period						during the period					the		Days
	Beginning		Ending Account		October 31, 2008		Beginning		Ending Account		October 31,		Annualized			current		in the
	Account Value		Value		through		Account Value		Value		2008 through		expense			1/2		full
	October 31, 2008		April 30, 2009		April 30, 2009		October 31, 2008		April 30, 2009		April 30, 2009		ratio			year		year
Class A	$	1,000.00	$	953.17	$	5.52	$	1,000.00	$	1,019.14	$	5.70		1.14	%		181		365
Class B	$	1,000.00	$	951.13	$	7.45	$	1,000.00	$	1,017.15	$	7.70		1.54			181		365
Class C	$	1,000.00	$	948.86	$	9.71	$	1,000.00	$	1,014.82	$	10.04		2.01			181		365
Class R3	$	1,000.00	$	950.86	$	7.40	$	1,000.00	$	1,017.20	$	7.65		1.53			181		365
Class R4	$	1,000.00	$	952.49	$	6.29	$	1,000.00	$	1,018.34	$	6.50		1.30			181		365
Class R5	$	1,000.00	$	954.40	$	4.84	$	1,000.00	$	1,019.83	$	5.00		1.00			181		365
Class Y	$	1,000.00	$	954.58	$	4.31	$	1,000.00	$	1,020.38	$	4.45		0.89			181		365

25

The Hartford Diversified International Fund

Table of Contents

Manager Discussions (Unaudited)	2
Financial Statements
Schedule of Investments at April 30, 2009 (Unaudited)	5
Statement of Assets and Liabilities at April 30, 2009 (Unaudited)	13
Statement of Operations for the Six Month Period Ended April 30, 2009 (Unaudited)	14
Statement of Changes in Net Assets for the Six Month Period Ended April 30, 2009 (Unaudited) and the Year Ended October 31, 2008	15
Notes to Financial Statements (Unaudited)	16
Financial Highlights (Unaudited)	26
Directors and Officers (Unaudited)	27
How to Obtain a Copy of the Fund’s Proxy Voting Policies and Voting Records (Unaudited)	29
Quarterly Portfolio Holdings Information (Unaudited)	29
Expense Example (Unaudited)	30

The Hartford Diversified International Fund

(subadvised by Wellington Management Company, LLP)

Performance Overview(1) 6/30/08 — 4/30/09

Growth of a $10,000 investment in Class A which includes Sales Charge

MSCI All Country World ex US Index is a broad based, unmanaged, market capitalization weighted, total return index that measures the performance of both developed and emerging stock markets, excluding the U.S. The index is calculated to exclude companies and share classes which cannot be freely purchased by foreigners.

You cannot invest directly in an index.

The value of shares will fluctuate so that, when redeemed, shares may be worth more or less than their original cost. The chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.

Investment objective — Seeks long-term capital appreciation.

Average Annual Total Returns(2,3) (as of 4/30/09)

	Inception		Since
	Date		Inception
Diversified International A#		6/30/08		-42.32	%
Diversified International A##		6/30/08		-45.49	%
Diversified International B#		6/30/08		-42.70	%
Diversified International B##		6/30/08		-45.57	%
Diversified International C#		6/30/08		-42.70	%
Diversified International C##		6/30/08		-43.27	%
Diversified International I#		6/30/08		-42.15	%
Diversified International R3#		6/30/08		-42.48	%
Diversified International R4#		6/30/08		-42.38	%
Diversified International R5#		6/30/08		-42.18	%
Diversified International Y#		6/30/08		-42.14	%

#	Without sales charge
##	With sales charge

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)	Growth of a $10,000 investment in Classes B, C, I, R3, R4, R5 and Y shares will vary from results seen above due to differences in the expenses charged to these share classes.
(2)	The initial investment in Class A shares reflects the maximum sales charge and Classes B and C reflect CDSC.
(3)	Total returns presented above were calculated using the Fund’s net asset value available to shareholders for sale or redemption of Fund shares on April 30, 2009, which excludes investment transactions as of this date.

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

Portfolio Managers
Cheryl M. Duckworth, CFA	Andrew S. Offit, CPA	Vera M. Trojan, CFA
Senior Vice President	Senior Vice President	Senior Vice President
Theodore B.P. Jayne, CFA	David Elliott, CFA
Vice President	Vice President

How did the Fund perform?

The Class A shares of The Hartford Diversified International Fund returned -1.90%, before sales charge, for the six-month period ended April 30, 2009, underperforming its benchmark, the MSCI All Country World ex-U.S. Index, which returned 1.31% for the same period. The Fund also underperformed the - -0.97% return of the average fund in 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?

The modestly positive return of the benchmark during the period masks two significantly different market environments. From the beginning of November through early March stocks fell sharply, reflecting deepening economic worries and concerns over the impact of various governments’ increasing involvement in the global economy. From early March through the end of April stocks rallied as investors came to believe that a Depression-like scenario was less likely. Sector returns within the MSCI All Country World ex-U.S. diverged widely in this environment, with weakness in traditionally defensive sectors like Health Care (-11%), Utilities (-7%), and Consumer Staples (-5%) offset by strength in economically sensitive areas like Materials (+15%), Information Technology (+10%), and Industrials (+9%).

2

The Fund’s underperformance versus the benchmark was due to weak stock selection, which was negative in seven of ten sectors. Selection was weakest within Financials, Consumer Staples, and Materials. This was partially offset by more favorable selection in Consumer Discretionary, Energy, and Health Care. Sector positioning, which is a result of individual stock decisions, was additive, largely due to underweight (i.e. the Fund’s sector position was less than the benchmark position) positions in Financials and Utilities and an overweight (i.e. the Fund’s sector position was greater than the benchmark position) position in Information Technology. The Fund also benefited from a modest cash position, which helped relative (i.e. performance of the Fund as measured against the benchmark) performance as the market trended lower from November through February.

The largest detractors from relative returns were Vimpel-Communications (Telecommunication Services), Japan Tobacco (Consumer Staples), and UBS (Financials). Russian wireless operator Vimpel-Communications saw its shares fall amid significant macroeconomic uncertainty in Russia and weakness in the ruble relative to the U.S. dollar. Shares of cigarette and tobacco products company Japan Tobacco were pressured by declining domestic tobacco sales volumes and the negative impact from a strong Japanese yen. Switzerland-based financial services provider UBS posted a larger-than-expected quarterly loss, pushing its shares lower. Food and beverage company Nestle (Consumer Staples), also based in Switzerland, was among the top detractors from absolute (i.e. total return) returns.

Top contributors to relative performance during the period included Volkswagen (Consumer Discretionary), China Communications Construction (Industrials), and Rio Tinto (Materials). German car maker Volkswagen’s shares slid during the period following sharp gyrations in the company’s stock at the end of October driven by Porsche’s move to take a controlling stake in the company. The Fund gained on a relative basis by not holding the stock, which is included in the benchmark. China infrastructure company China Communications Construction saw its shares rise on expectations that the company will benefit from the Chinese government’s stimulus spending. Shares of diversified mining company Rio Tinto benefited from rising copper prices and the company’s reduced balance sheet risk following the recently proposed funding deal with Aluminum Corporation of China (CHINALCO). Top absolute contributors included Standard Chartered (Financials) and BHP Billiton (Materials).

What is the outlook?

It is increasingly clear that the global economy is in a deep recession, notwithstanding the recent stock market rally. Governments worldwide are reshaping the financial playing field through actions ranging from stimulus packages to massive loans to impaired private sector companies, all taken with an eye towards thawing frozen credit markets and expanding purchasing power. These moves will help mitigate some of the negative economic pressures, and while the outlook remains uncertain, markets have begun to anticipate a recovery.

The Fund employs a multiple portfolio manager structure and is organized in three broad strategies. The Fund’s managers pursue diverse and complementary investment strategies, with fundamental, bottom-up (i.e. stock by stock fundamental research) research as the foundation for portfolio construction. Due to these bottom-up investment decisions we ended the period most overweight the Consumer Discretionary, Information Technology, and Health Care sectors and most underweight the Financials, Energy, and Telecommunication Services sectors.

Diversification by Industry

as of April 30, 2009

	Percentage of
Industry	Net Assets
Automobiles & Components		4.2	%
Banks		11.8
Capital Goods		6.4
Commercial & Professional Services		1.0
Consumer Durables & Apparel		1.8
Consumer Services		0.7
Diversified Financials		4.3
Energy		8.9
Food & Staples Retailing		2.0
Food, Beverage & Tobacco		5.9
Health Care Equipment & Services		1.3
Household & Personal Products		0.1
Insurance		3.8
Materials		9.1
Media		1.4
Pharmaceuticals, Biotechnology & Life Sciences		6.9
Real Estate		1.5
Retailing		3.8
Semiconductors & Semiconductor Equipment		2.6
Software & Services		2.0
Technology Hardware & Equipment		4.3
Telecommunication Services		5.4
Transportation		2.3
Utilities		5.2
Short-Term Investments		1.5
Other Assets and Liabilities		1.8
Total		100.0	%

3

Diversification by Country

as of April 30, 2009

	Percentage of
Country	Net Assets
Australia		0.8	%
Austria		0.7
Belgium		0.9
Brazil		3.1
Canada		3.4
China		1.1
Denmark		0.7
Egypt		0.1
Finland		0.8
France		8.7
Germany		7.3
Greece		0.2
Hong Kong		2.1
India		1.1
Ireland		1.1
Israel		0.9
Italy		2.4
Japan		13.0
Luxembourg		0.8
Malaysia		0.2
Mauritius		0.1
Mexico		0.3
Netherlands		3.1
New Zealand		0.0
Norway		0.8
Panama		0.1
Papua New Guinea		0.1
Peru		0.1
Philippines		0.0
Portugal		0.1
Russia		1.5
Singapore		0.4
South Africa		1.4
South Korea		1.6
Spain		3.0
Sweden		1.9
Switzerland		7.9
Taiwan		2.1
Thailand		0.3
Turkey		0.4
United Kingdom		20.1
United States		2.0
Short-Term Investments		1.5
Other Assets and Liabilities		1.8
Total		100.0	%

4

The Hartford Diversified International Fund

Schedule of Investments

April 30, 2009 (Unaudited)
(000’s Omitted)

Shares or Principal Amount			Market Value ╪
COMMON STOCKS—95.1%
		Australia—0.8%
	5	ABC Learning Centres Ltd. ⌂ • †	$	—
	2	Australian Worldwide Exploration Ltd.		4
	1	Avoca Resources Ltd. •		1
	1	AWB Ltd.		1
	—	Bradken Ltd.		1
	1	Challenger Financial Services Group Ltd.		1
	1	Coffey International Ltd.		2
	1	CSL Ltd.		31
	2	Dominion Mining Ltd.		7
	6	Elders Ltd.		2
	8	Emeco Holdings Ltd.		2
	4	ING Office Fund		1
	7	Macquarie CountryWide Trust		2
	15	Macquarie Office Trust		2
	2	Mount Gibson Iron Ltd. •		1
	4	Pacific Brands Ltd.		2
	6	Pan Pacific Petroleum •		1
	4	PaperlinX Ltd.		2
	4	PMP Ltd.		1
	1	Rio Tinto Ltd.		41
	7	Sigma Pharmaceuticals Ltd.		6
	10	Virgin Blue Holdings Ltd.		2
				113
		Austria—0.7%
	—	BWIN Interactive Entertainment •		7
	3	OMV AG		84
				91
		Belgium—0.9%
	—	Delhaize-Le Lion S.A.		20
	—	D’ieteren S.A.		1
	—	GIMV NPV		1
	10	Hansen Transmissions •		21
	—	Nyrstar N.V.		3
	—	Omega Pharma S.A.		3
	—	Sipef N.V.		1
	—	Tessenderlo Chemie N.V.		7
	2	UCB S.A.		45
	—	Umicore		6
	—	Wereldhave Belgium		1
				109
		Brazil—3.1%
	4	Banco do Estado do Rio Grande do Sul S.A.		14
	3	BM & F Bovespa S.A.		13
	—	Companhai Brasileira de Distribuicao Grupo Pao de Acucar ADR		7
	—	Companhia de Bebidas das Americas ADR		4
	2	Companhia Energetica de Minas Gerais		29
	3	Companhia Energetica de Minas Gerais ADR		45
	3	Companhia Vale do Rio Doce ADR		54
	1	Cyrela Brazil Realty S.A.		6
	9	Itau Unibanco Banco Multiplo S.A. ADR		125
	2	Petroleo Brasileiro S.A. ADR		67
	1	Tele Norte Leste Participacoes S.A. ADR		19
	—	Weg S.A.		3
				386
		Canada—3.4%
	—	Aecon Group, Inc.		3
	—	Agrium U.S., Inc.		17
	1	Agrium, Inc.		22
	1	Alamos Gold, Inc. •		4
	—	Alimentation Couche-Tard, Inc. Class B		1
	—	Altius Minerals Corp.		2
	—	Atrium Innovations, Inc. •		2
	1	ATS Automation Tooling Systems, Inc. •		2
	1	Bank of Nova Scotia		17
	1	Biovail Corp.		8
	1	Cameco Corp.		32
	1	Canadian Natural Resources Ltd.		28
	—	Canam Group, Inc.		3
	1	Cascades, Inc.		3
	1	Celestica, Inc. •		6
	—	Constellation Software, Inc.		3
	1	EnCana Corp.		23
	—	Enerflex Systems Income Fund •		2
	—	Enghouse Systems Ltd.		2
	—	Equitable Group, Inc.		4
	—	Flint Energy Services Ltd.		2
	1	Highpine Oil & Gas Ltd. •		7
	—	Home Capital Group, Inc.		10
	—	Laurentian Bank of Canada		8
	—	Miranda Technologies, Inc. •		1
	—	MOSAID Technologies, Inc.		1
	1	Patheon, Inc. •		1
	1	Petro Andina Resources, Inc. •		4
	1	Potash Corp. of Saskatchewan, Inc.		69
	—	Potash Corp. of Saskatchewan, Inc. ADR		39
	1	Research In Motion Ltd. •		56
	2	Semafo, Inc.		3
	—	Sierra Wireless, Inc. •		1
	—	The Churchill Corp. •		3
	1	Thompson Creek Metals Co., Inc. •		4
	1	Toronto-Dominion Bank		50
	—	Transcontinental, Inc.		2
	2	West Energy Ltd. •		4
	—	Winpak Ltd.		2
				451
		China—1.1%
	10	China Communications Construction Co., Ltd.		12
	13	China Dongxiang Group Co.		6
	8	China Life Insurance Co., Ltd.		28
	13	China Shenhua Energy Co., Ltd.		36
	18	Dongfeng Motor Group Co., Ltd.		13
	22	Industrial and Commercial Bank of China		13
	1	Mindray Medical International Ltd.		25
	—	Sohu.com, Inc. •		4
	1	Suntech Power Holdings Co., Ltd. ADR •		14
				151
		Denmark—0.7%
	—	Auriga Industries		2
	1	Carlsberg A/S Class B		35
	1	H. Lundbeck A/S		22
	—	TK Development •		1
	—	Vestas Wind Systems A/S •		20
				80
		Egypt—0.1%
	—	Orascom Construction		7
		Finland—0.8%
	6	Nokia Oyj		83
	1	Raisio plc		2

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

5

The Hartford Diversified International Fund
Schedule of Investments—(continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

Shares or Principal Amount			Market Value ╪
COMMON STOCKS—95.1%—(continued)
		Finland—0.8%—(continued)
	1	Sponda Oyj	$	2
	1	Tietoenator Oyj		7
				94
		France—8.7%
	—	Air France		4
	1	Alstom RGPT		42
	—	BNP Paribas		25
	—	Boiron		3
	—	Cegereal		2
	—	Compagnie Generale de Geophysique-Veritas •		1
	—	Eiffage		4
	—	Esso Ste. Anonyme Francaise		3
	—	Eurazeo		11
	—	Faiveley S.A.		2
	—	Fonciere des Regions		4
	1	France Telecom S.A.		22
	1	Gaz de France		45
	—	Gecina S.A.		3
	1	Groupe Eurotunnel S.A. •		4
	—	M6-Metropole Television		2
	—	Meetic •		2
	2	Michelin (C.G.D.E.) Class B		109
	—	Nexans S.A.		6
	—	Nexity		11
	1	Peugeot S.A.		31
	1	Pinault-Printemps-Redoute S.A.		64
	3	Rhodia S.A.		16
	1	Safran S.A.		6
	2	Sanofi-Aventis S.A.		138
	—	Schneider Electric S.A.		22
	1	Scor SE		11
	—	Societe BiC S.A.		7
	—	Societe Fonciere, Financiere et de Participations		1
	1	Societe Generale Class A		55
	2	Technip S.A.		66
	—	Teleperformance		8
	—	Thermador Groupe		1
	2	Thomson Multimedia S.A. •		3
	2	Total S.A.		92
	1	Unibail		84
	—	Vallourec		41
	1	Vinci S.A.		43
	2	Vivendi S.A.		55
	—	Zodiac Aerospace		2
				1,051
		Germany—7.3%
	—	Aareal Bank AG		2
	—	Allianz SE		28
	—	Alstria Office REIT AG		3
	—	Aurubis AG		6
	1	BASF SE		47
	—	Biotest AG		3
	—	CeWe Color Holdings		1
	3	Daimler AG		109
	—	Demag Cranes AG		4
	—	Deutsche Beteiligungs AG		2
	2	Deutsche Boerse AG		112
	1	Deutsche Lufthansa AG		15
	—	Draegerwerk AG & Co.		1
	5	E.On AG		175
	—	Fresenius SE		10
	1	GEA Group AG		8
	—	Gesco AG		1
	—	GFK SE		2
	—	Gildemeister		2
	—	Hochtief AG		13
	1	Infineon Technologies AG •		3
	—	Jenoptik AG •		1
	—	Jungheinrich AG		1
	—	K+S AG		27
	—	Loewe AG		1
	—	Merck KGaA		24
	1	Metro AG		47
	—	MTU Aero Engines Holdings AG		10
	—	Muenchener Rueckversicherungs NPV		46
	—	Plambeck Neue Energien AG •		1
	—	Praktiker Bau-Und Heimwerkermaerkte Holding AG		2
	—	Rheinmetall AG		1
	—	RWE AG		20
	—	Salzgitter AG		10
	2	Siemens AG		110
	—	Software AG		1
	1	Solarworld AG		22
	���	TIPP24 AG		1
	—	Vossloh AG		6
	1	Wirecard •		8
	—	Wuestenrot & Wuerttembergische AG		5
				891
		Greece—0.2%
	1	Public Power Corp.		23
	—	Sarantis S.A.		1
				24
		Hong Kong—2.1%
	37	Anta Sports Products Ltd.		31
	5	ASM Pacific Technology		22
	4	China Merchants Holdings International Co., Ltd.		10
	1	China Mobile Ltd.		9
	2	China Overseas Land & Investment Ltd.		4
	3	Chow Sang Sang Holdings		1
	—	CNOOC Ltd. ADR		17
	3	Esprit Holdings Ltd.		15
	32	Golden Meditech Co., Ltd.		4
	2	Great Eagle Holdings Ltd.		3
	4	HKR International Ltd.		1
	1	Hong Kong Exchanges & Clearing Ltd.		8
	30	Huabao International Holdings Ltd.		21
	3	Hysan Development Co., Ltd.		5
	11	Johnson Electric Holdings Ltd.		2
	9	K Wah International Holdings Ltd.		2
	53	Kingboard Laminates Holdings		21
	12	Li & Fung Ltd.		34
	6	New World China Land Ltd.		2
	10	Noble Group Ltd.		9
	16	Oriental Press Group		1

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

6

Shares or Principal Amount			Market Value ╪
COMMON STOCKS—95.1%—(continued)
		Hong Kong—2.1%—(continued)
	19	Pacific Andes International Holdings Ltd.	$	2
	10	Regal Real Estate Investment		1
	6	Shangri-La Asia Ltd.		9
	22	Sinolink Worldwide Holdings		2
	21	Skyworth Digital Holdings Ltd.		2
	4	Techtronic Industries Co., Ltd.		2
	3	Tian An China Investments Co., Ltd.		1
				241
		India—1.1%
	1	Bharti Televentures •		10
	—	Educomp Solutions Ltd.		8
	1	HDFC Bank Ltd. ADR ‡		89
	1	Larsen & Toubro Ltd.		9
	—	Reliance Industries Ltd.		15
				131
		Ireland—1.1%
	1	CRH plc		23
	4	Elan Corp. plc ADR •		24
	1	Genesis Lease Ltd. ADR		3
	1	Greencore Group plc		1
	2	Ryanair Holdings plc ADR •		60
	—	SkillSoft plc ADR •		4
	1	Smurfit Kappa Group plc		3
	5	Total Produce plc		2
	2	United Drug plc		4
				124
		Israel—0.9%
	2	Bank Leumi Le-Israel		5
	4	Bezeq Israeli Telecommunication Corp., Ltd.		7
	2	Teva Pharmaceutical Industries Ltd. ADR		92
				104
		Italy—2.4%
	—	Ansaldo STS S.p.A.		7
	2	Banco di Desio e della Brianza S.A.		10
	1	Buzzi Unicem S.p.A. •		9
	—	Davide Campari		1
	—	DiaSorin S.p.A.		1
	4	Eni S.p.A.		90
	—	Esprinet S.p.A.		1
	—	Exor S.p.A. •		2
	1	Finmeccanica S.p.A.		8
	3	Geox S.p.A.		25
	13	Intesa Sanpaolo		43
	—	Lottomatica S.p.A.		7
	1	Maire Tecnimont S.p.A.		2
	1	Parmalat S.p.A.		2
	—	Piccolo Credito Valtellinese		1
	25	Pirelli & Co. S.p.A.		10
	57	Telecom Italia S.p.A.		51
	6	Unipol Gruppo Finanziario S.p.A.		8
				278
		Japan—13.0%
	—	Aderans Holdings Co., Ltd.		2
	—	Aichi Bank Ltd.		6
	1	Aichi Machine Industry Co., Ltd.		2
	—	Ain Pharmaciez, Inc.		2
	—	Aoki Holdings, Inc.		2
	1	Aoyama Trading Co., Ltd.		9
	—	Arcs Co., Ltd.		4
	1	Arisawa Manufacturing Co., Ltd.		2
	1	ASKA Pharmaceutical Co., Ltd.		6
	1	Astellas Pharma, Inc.		39
	—	BML, Inc.		4
	—	Canon Finetech, Inc.		2
	2	Canon, Inc.		72
	—	Cawachi Ltd.		2
	1	Cedyna Financial Corp.		1
	—	Central Japan Railway Co.		42
	—	Century Tokyo Leasing Corp.		1
	—	Chudenko Corp.		6
	1	Circle K Sunkus Co., Ltd.		8
	—	Coca-Cola Central Japan Co., Ltd.		1
	—	DA Office Investment Corp.		4
	3	Daiichi Sankyo Co., Ltd.		55
	1	Daiichikosho Co., Ltd.		5
	1	DCM Japan Holdings Co., Ltd.		7
	1	Denso Corp.		14
	—	DTS Corp.		2
	—	Dydo Drinco, Inc.		3
	3	Eisai Co., Ltd.		73
	—	ESPEC Corp.		1
	—	Fields Corp.		1
	—	Fuji Machine Manufacturing Co.		2
	—	Futaba Corp.		1
	1	Godo Steel Ltd.		2
	—	Gunze Ltd.		2
	1	Heiwa Corp.		9
	—	Hikari Tsushin, Inc.		2
	—	Hitachi Systems & Services Ltd.		2
	1	Hogy Medical Co., Ltd.		32
	6	Honda Motor Co., Ltd.*		170
	1	Ibiden Co., Ltd.		29
	—	INES Corp.		2
	—	Itoham Foods, Inc.		1
	1	Izumiya Co., Ltd.		6
	2	Jaccs Co., Ltd.		3
	—	Japan Tobacco, Inc.		10
	—	Kanto Automotive Works Ltd.		2
	1	Kinden Corp.		12
	—	Komori Corp.		4
	—	Kyocera Corp.		23
	—	Kyoei Steel Ltd.		2
	—	Kyosan Electric Manufacturing Co., Ltd.		2
	—	Kyoto Kimono Yuzen		1
	1	Maeda Corp.		4
	—	MID REIT, Inc.		2
	—	Mimasu Semiconductor Industry Co., Ltd.		2
	1	Mitsubishi Corp.		22
	4	Mitsubishi Estate Co., Ltd.		52
	30	Mitsubishi UFJ Financial Group, Inc.*		165
	—	Mitsui Knowledge Industry Co., Ltd.		1
	—	Mitsui Sugar Co., Ltd.		1
	—	Mitsumi Electric Co., Ltd.		1
	1	Nabtesco Corp.		8
	—	NEC Mobiling Ltd.		1
	1	Nintendo Co., Ltd.		144
	1	Nippo Corp.		6
	3	Nippon Electric Glass Co., Ltd.		24
	—	Nippon Seiki Co., Ltd.		2
	1	Nishimatsu Construction Co., Ltd.		1
	1	Nissan Shatai Co., Ltd.		7

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

7

The Hartford Diversified International Fund
Schedule of Investments—(continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

Shares or Principal Amount			Market Value ╪
COMMON STOCKS—95.1%—(continued)
		Japan—13.0%—(continued)
	1	Nittetsu Mining Co., Ltd.	$	2
	—	Noevir		2
	—	NTT DoCoMo, Inc.		20
	10	Osaka Gas Co., Ltd.		32
	2	Panasonic Corp.		27
	—	Paramound Bed Co.		1
	—	Pasona Group, Inc.		1
	1	Raito Kogyo		1
	—	Rakuten, Inc.		30
	—	Ricoh Leasing Co., Ltd.		3
	—	Right On Co., Ltd.		2
	—	Round One Corp.		3
	—	Ryosan Co., Ltd.		2
	—	Ryoshoku Ltd.		2
	—	Ryoyo Electro Corp.		2
	1	Sankyo Co., Ltd.		41
	—	Sanyo Denki Co., Ltd.		1
	2	Seino Holdings Corp.		8
	1	Shin-Etsu Chemical Co., Ltd.		59
	1	Softbank Corp.		14
	—	Sogo Medical Co., Ltd.		1
	1	Sony Corp.		26
	—	Taikisha Ltd.		2
	1	Takefuji Corp.		3
	—	The Daiei, Inc. •		1
	1	The Eighteenth Bank Ltd.		3
	1	The Kanto Tsukuba Bank Ltd.		6
	—	The Kita-Nippon Bank Ltd.		3
	—	The Okinawa Electric Power Co., Inc.		5
	2	Toagosei Co., Ltd.		5
	—	Tohokushinsha Film Corp.		3
	1	Tokuyama Corp.		5
	1	Tokyo Electron Ltd.		27
	10	Tokyo Gas Co., Ltd.		38
	1	Tokyo Steel Manufacturing Co., Ltd.		8
	—	Torii Pharmaceutical Co., Ltd.		4
	—	Toyo Kohan Co., Ltd.		2
	1	Toyota Automotive Body Co., Ltd.		13
	—	Toyota Motor Corp.		12
	—	TS Technology Co., Ltd.		5
	—	Tsuruha Holdings, Inc.		4
	—	TV Asahi Corp.		5
	—	Unipres Corp.		3
	1	Uny Co., Ltd.		5
	—	Yonekyu Corp.		1
				1,583
		Luxembourg—0.8%
	1	ArcelorMittal		19
	1	ArcelorMittal ADR		28
	1	Colt Telecom Group S.A. •		2
	1	Millicom International Cellular S.A.		24
	2	SES Global S.A.		28
				101
		Malaysia—0.2%
	30	Air Asia BHD •		10
	3	Kulim Malaysia Berhad		5
	21	PLUS Expressways Berhad		19
				34
		Mauritius—0.1%
	40	Golden Agri Resources Ltd.		10
		Mexico—0.3%
	1	America Movil S.A.B. de C.V. ADR		19
	4	Cemex S.A. CPO		3
	—	Desarrolladora Homex SAB de CV •		2
	—	Fomento Economico Mexicano S.A.B. De C.V. ADR		6
	—	Grupo Televisa S.A. ADR		6
				36
		Netherlands—3.1%
	9	AerCap Holdings N.V. •		42
	2	ASML Holding N.V.		36
	—	Crucell N.V. •		5
	—	Gemalto N.V. •		9
	—	Heijmans N.V.		1
	—	Imtech N.V.		3
	7	Koninklijke (Royal) KPN N.V.		81
	5	Koninklijke Ahold N.V.		59
	—	Koninklijke Philips Electronics N.V.		6
	—	Koninklijke Ten Cate N.V.		2
	—	OCE N.V.		3
	1	Ordina N.V.		3
	3	Plaza Centers N.V.		2
	2	Qiagen N.V. •		32
	2	SBM Offshore N.V.		32
	3	Unilever N.V. CVA		57
	—	Unit 4 Agresso N.V. •		2
	—	USG People N.V.		3
	—	USG People N.V.—Dividend Option †		—
	—	Vastned Offices		2
				380
		New Zealand—0.0%
	4	New Zealand Oil & Gas Ltd.		3
		Norway—0.8%
	—	Atea ASA •		1
	—	Bonheur ASA		4
	9	DNB Nor ASA		58
	40	DNO International ASA •		34
	1	Norske Skogindustrier ASA •		1
	—	Pronova BioPharma A.S. •		1
	—	Sparebanken Midt-Norge		2
	—	TGS Nopec Geophysical Co. ASA •		2
				103
		Panama—0.1%
	—	Copa Holdings S.A. Class A		12
		Papua New Guinea—0.1%
	1	New Britain Palm Oil Ltd.		6
		Peru—0.1%
	1	Compania De Minas Buenaventur ADR		15
		Philippines—0.0%
	—	Philippine Long Distance Telephone Co. ADR		5
		Portugal—0.1%
	1	Novabase SGPS S.A. •		6

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

8

Shares or Principal Amount			Market Value ╪
COMMON STOCKS—95.1%—(continued)
		Portugal—0.1%—(continued)
	1	Redes Energeticas Nacionais	$	4
				10
		Russia—1.5%
	—	Lukoil ADR		9
	1	Mining and Metallurgical Co. Norilsk Nickel ADR		6
	7	OAO Gazprom Class S ADR		118
	3	OAO Rosneft Oil Co. §		17
	2	Vimpel-Communications ADR		22
				172
		Singapore—0.4%
	15	Chartered Semiconductor •		2
	4	DBS Group Holdings Ltd.		22
	11	K1 Ventures Ltd.		1
	5	Oversea-Chinese Banking Corp., Ltd.		20
				45
		South Africa—1.4%
	3	Adcock Ingram Holdings Ltd. •		13
	12	African Bank Investments Ltd.		39
	2	Aspen Pharmacare Holdings Ltd.		10
	—	Gold Fields Ltd.		4
	1	Impala Platinum Holdings Ltd.		16
	5	MTN Group Ltd.		66
	—	Sasol Ltd.		8
	3	Truworths International Ltd.		13
				169
		South Korea—1.6%
	—	CJ Corp.		2
	—	CJ Home Shopping		3
	1	Dae Duck Electronics		3
	—	Global & Yuasa		2
	—	Infopia Co., Ltd. •		1
	—	Kolon Engineering & Construction Co., Ltd.		2
	—	Kolon Industries, Inc.		4
	—	Korea Kumho Petrochemical Co., Ltd.		4
	—	Kumho Industrial Co., Ltd.		2
	—	LG Dacom Corp.		5
	—	LG Electronics, Inc. •		8
	—	LG Micron Ltd. ⌂		4
	—	Lotte Shopping Co. •		20
	—	Meritz Fire & Marine Insurance		2
	—	NHN Corp. •		5
	1	ON*Media Corp. •		2
	—	Pacific Corp.		2
	—	Posco Ltd. •		8
	—	Sambu Construction Co., Ltd.		2
	—	Samsung Electronics Co., Ltd.		102
	—	Samsung Securities Co., Ltd. •		7
	—	Seah Besteel Corp.		2
	—	Shinsegae Co., Ltd. •		6
	—	STX Engine Co., Ltd.		6
	—	TK Corp. •		2
	—	Youngone Corp.		2
				208
		Spain—3.0%
	1	Abertis Infraestructuras S.A.		14
	3	Banco Bilbao Vizcaya Argentaria S.A.		37
	—	Banco De Sabadell S.A.		2
	—	Construcciones y Auxiliar de		9
	—	Corp Financiera Alba		8
	4	Iberdrola S.A.		33
	1	Industria de Diseno Textil S.A.		22
	—	Miquel y Costas & Miquel S.A.		2
	—	Prosegur Compania de Seguridad S.A.		2
	2	Red Electrica Corporacion S.A.		85
	7	Telefonica S.A.		136
	—	Viscofan S.A.		5
				355
		Sweden—1.9%
	—	AF Ab Class B		3
	—	Betsson Ab		2
	1	Boliden Ab		4
	1	Bure Equity Ab		4
	—	Cardo Ab		3
	—	Hennes & Mauritz Ab		10
	—	Investment Ab Latour		3
	—	Lundbergforetagen Ab		7
	10	Lundin Petroleum Ab •		63
	—	NCC Ab Class B		4
	5	Swedish Match Ab		67
	5	Telefonaktiebolaget LM Ericsson		45
	2	Volvo Ab Class B		12
				227
		Switzerland—7.9%
	3	ABB Ltd.		46
	—	Actelion Ltd. •		10
	1	Adecco S.A.		21
	—	Baloise Holding AG		6
	—	Basellandschaftliche Kantonalbank		2
	—	Basler Kantonalbank		2
	—	Bell Holding AG		2
	—	Berner Kantonalbank		6
	2	Clariant AG		10
	2	Credit Suisse Group AG		69
	1	Dufry Group		14
	1	Julius Baer Holding Ltd.		43
	—	Kardex •		2
	—	Kuehne & Nagel International AG		18
	1	Mobilezone Holdings		3
	8	Nestle S.A.		268
	1	Nobel Biocare Holding AG		30
	—	Orascom Development Holding AG •		2
	—	Pargesa Holding S.A.		2
	4	Paris RE Holdings Ltd.		69
	—	Roche Holding AG		56
	—	Sonova Holding AG		18
	—	Synthes, Inc.		24
	10	UBS AG •		133
	—	Valiant Holding AG		4
	1	Zurich Financial Services AG		95
				955
		Taiwan—2.1%
	5	Cathay Financial Holding Co., Ltd.		5
	—	Chunghwa Telecom Co., Ltd. ADR		5
	3	High Technology Computer Corp.		35
	4	Hon Hai Precision Industry Co., Ltd.		12
	12	Hon Hai Precision Industry Co., Ltd. GDR ■		69
	4	Hon Hai Precision Industry Co., Ltd. GDR §		26
	1	MediaTek, Inc.		7
	5	Taiwan Mobile Co., Ltd.		8

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

9

The Hartford Diversified International Fund
Schedule of Investments—(continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

Shares or Principal Amount			Market Value ╪
COMMON STOCKS—95.1%—(continued)
		Taiwan—2.1%—(continued)
	8	Taiwan Semiconductor Manufacturing Co., Ltd. ADR	$	82
				249
		Thailand—0.3%
	10	Bangkok Bank plc		23
	44	Bank of Ayudhya plc		14
				37
		Turkey—0.4%
	3	Turkcell Iletisim Hizmetleri AS ADR		39
	6	Turkiye Garanti Bankasi A.S.		13
				52
		United Kingdom—20.1%
	1	888 Holdings plc		1
	3	Admiral Group plc		40
	—	Aggreko plc		2
	2	Amlin plc		8
	3	Anite plc		1
	15	Arm Holdings plc		26
	3	Ashtead Group plc		3
	1	AstraZeneca plc		34
	2	AstraZeneca plc ADR		77
	2	Autonomy Corp. plc •		43
	11	BAE Systems plc		56
	10	Barclays Bank plc		41
	2	Barratt Developments plc		4
	3	Beazley Group plc		4
	9	BG Group plc		145
	2	BHP Billiton plc		48
	10	BP plc		73
	2	BP plc ADR		81
	1	Brit Insurance Holdings		2
	5	British American Tobacco plc		119
	2	Catlin Group Ltd.		8
	—	Clarkson plc		1
	1	Computacenter plc		3
	4	Croda International plc		33
	1	CSR plc •		2
	2	Devro plc		3
	1	Diploma plc		1
	2	Drax Group plc		15
	11	easyJet plc •		53
	1	Emerald Energy plc •		5
	2	Enterprise Inns plc		5
	3	Ferrexpo plc		7
	4	Galliford Try plc		3
	2	GlaxoSmithKline plc		26
	—	Greene King plc		2
	—	Hardy Underwriting Group		1
	27	Hays plc		37
	2	Hiscox Ltd.		8
	1	HMV Group plc		2
	21	HSBC Holding plc		150
	4	Imperial Tobacco Group plc		91
	1	International Personal Finance		2
	2	Investec plc		9
	4	J. Sainsbury plc		20
	—	Keller Group plc		2
	23	Kingfisher plc		62
	7	Lancashire Holdings Ltd. •		51
	6	Logica plc		6
	22	Marks & Spencer Group plc		111
	1	Marston’s plc		1
	2	McBride plc		3
	3	Meggitt plc		9
	4	Michael Page International plc		16
	1	Micro Focus International		3
	—	Millennium & Copthorne Hotels plc		1
	1	Next plc		24
	—	Ocean Wilsons Holdings Ltd.		1
	3	Paragon Group Companies plc		3
	2	PV Crystalox Solar plc		3
	4	Reed Elsevier Capital, Inc. ⌂		30
	8	Regus plc		9
	8	Resolution plc •		11
	—	Reuters Group plc		7
	11	Rexam plc		50
	5	Rio Tinto plc		193
	2	ROK plc		2
	5	Rolls-Royce Group plc		26
	443	Rolls-Royce Group-C Share Entitlement ⌂ †		1
	1	Southern Reserve, Inc.		5
	12	Standard Chartered plc		192
	5	Tesco plc		26
	4	Thomas Cook Group plc		16
	1	Tomkins plc		3
	4	Tui Travel plc		15
	1	UMECO plc		1
	2	Vedanta Resources plc		32
	50	Vodafone Group plc		93
	1	WH Smith plc		9
	5	Wm Morrison Supermarkets		19
	4	WPP plc		31
	9	Xstrata plc		80
				2,442
		United States—0.4%
	1	ACE Ltd.		37
	2	WSP Holdings Ltd.		6
				43
		Total common stocks (cost $12,698)	$	11,578
EXCHANGE TRADED FUNDS—1.6%
		United States—1.6%
	5	iShares MSCI EAFE Index Fund	$	188
		Total exchange traded funds (cost $167)	$	188
		Total long-term investments (cost $12,865)	$	11,766

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

10

Shares or Principal Amount					Market Value ╪
SHORT-TERM INVESTMENTS—1.5%
		Repurchase Agreements—1.5%
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $43, collateralized by GNMA 4.50%—6.50%, 2038—2039, value of $44)
$	43	0.18%, 04/30/2009			$	43
		BNP Paribas Securities Corp. TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $52, collateralized by FHLMC 4.50%—6.50%, 2035—2039, FNMA 4.50%—6.50%, 2034 — 2047, value of $53)
	52	0.17%, 04/30/2009				52
		Deutsche Bank Securities TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $72, collateralized by FHLMC 4.00%—7.00%, 2021—2039, FNMA 6.00%—7.00%, 2034 — 2038, GNMA 4.50%—7.00%, 2024—2039, value of $74)
	72	0.17%, 04/30/2009				72
		UBS Securities, Inc. Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $-, collateralized by U.S. Treasury Bond 7.50%, 2024, value of $-)
	—	0.14%, 04/30/2009				—
		UBS Securities, Inc. TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $16, collateralized by FHLMC 8.00%—15.00%, 2009—2021, FNMA 3.50%—15.50%, 2012—2039, value of $16)
	16	0.16%, 04/30/2009				16
						183
		Total short-term investments (cost $183)			$	183
		Total investments (cost $13,048) ▲	98 .2	%	$	11,949
		Other assets and liabilities	1 .8	%		222
		Total net assets	100.0	%	$	12,171

Note:	Percentage of investments as shown is the ratio of the total market value to total net assets. Market value of investments in foreign securities represents 94.77% of total net assets at April 30, 2009.
	Foreign securities that are principally traded on certain foreign markets are adjusted daily pursuant to a third party pricing service methodology approved by the Board of Directors in order to reflect an adjustment for factors occurring after the close of the foreign market but before the close of the New York Stock Exchange.
▲	At April 30, 2009, the cost of securities for federal income tax purposes was $13,981 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	848
Unrealized Depreciation		(2,880	)
Net Unrealized Depreciation	$	(2,032	)

†	The aggregate value of securities valued in good faith at fair value as determined under policies and procedures established by and under the supervision of the Fund’s Board of Directors at April 30, 2009, was $1, which represents 0.01% of total net assets. This calculation excludes securities that are principally traded in certain foreign markets and whose prices were adjusted pursuant to a third party pricing service methodology approved by the Board of Directors.
•	Currently non-income producing.
‡	This security, or a portion of this security, has been segregated to cover funding requirements on investment transactions settling in the future.
■	Securities issued within terms of a private placement memorandum, exempt from registration under Rule 144A under the Securities Act of 1933, as amended, and may be sold only to qualified institutional buyers. Pursuant to guidelines adopted by the Board of Directors, these issues are determined to be liquid. The aggregate value of these securities at April 30, 2009, was $69, which represents 0.57% of total net assets.
§	Securities contain some restrictions as to public resale. These securities comply with Regulation S, rules governing offers and sales made outside the United States without registration under the Securities Act of 1933, and are determined to be liquid. At April 30, 2009, the market value of these securities amounted to $43 or 0.35% of total net assets.
•	The cost of securities purchased on a when-issued or delayed delivery basis at April 30, 2009 was $45.
⌂	The following securities are considered illiquid. Illiquid securities are often purchased in private placement transactions, are often not registered under the Securities Act of 1933 and may have contractual restrictions on resale. A security may also be considered illiquid if the security lacks a readily available market or if its valuation has not changed for a certain period of time.

Period		Shares/
Acquired		Par		Security	Cost Basis
	06/2008		5	ABC Learning Centres Ltd.	$	5
	12/2008		—	LG Micron Ltd.		2
	06/2008 - 11/2008		4	Reed Elsevier Capital, Inc.		43
	06/2008 - 08/2008		443	Rolls-Royce Group-C Share Entitlement		—

The aggregate value of these securities at April 30, 2009 was $35 which represents 0.29% of total net assets.

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

11

The Hartford Diversified International Fund
Schedule of Investments—(continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

Forward Foreign Currency Contracts Outstanding at April 30, 2009

							Unrealized
	Market		Contract		Delivery		Appreciation/
Description	Value ╪		Amount		Date		(Depreciation)
British Pound (Sell)	$	35	$	35		05/01/09	$	—
British Pound (Buy)		22		21		05/01/09		1
British Pound (Buy)		23		23		05/05/09		—
British Pound (Sell)		11		11		05/06/09		—
British Pound (Sell)		—		0		05/06/09		—
Danish Krone (Buy)		5		5		05/04/09		—
Euro (Sell)		35		35		05/04/09		—
Euro (Buy)		17		17		05/04/09		—
Euro (Sell)		5		5		05/05/09		—
Euro (Buy)		31		31		05/05/09		—
Euro (Sell)		11		11		05/06/09		—
Hong Kong Dollar (Sell)		6		6		05/04/09		—
Hong Kong Dollar (Buy)		17		17		05/05/09		—
Japanese Yen (Sell)		13		13		05/01/09		—
Japanese Yen (Buy)		12		12		05/01/09		—
Japanese Yen (Buy)		25		27		05/07/09		(2	)
Japanese Yen (Buy)		18		18		05/08/09		—
Swedish Krona (Sell)		15		15		05/06/09		—
Swiss Franc (Sell)		6		6		05/04/09		—
Swiss Franc (Sell)		21		22		05/05/09		1
							$	—

╪ See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of securities.

Diversification by Industry

as of April 30, 2009

	Percentage of
Industry	Net Assets
Automobiles & Components		4.2	%
Banks		11 .8
Capital Goods		6 .4
Commercial & Professional Services		1 .0
Consumer Durables & Apparel		1 .8
Consumer Services		0 .7
Diversified Financials		4 .3
Energy		8 .9
Food & Staples Retailing		2 .0
Food, Beverage & Tobacco		5 .9
Health Care Equipment & Services		1 .3
Household & Personal Products		0 .1
Insurance		3 .8
Materials		9 .1
Media		1 .4
Pharmaceuticals, Biotechnology & Life Sciences		6 .9
Real Estate		1 .5
Retailing		3 .8
Semiconductors & Semiconductor Equipment		2 .6
Software & Services		2 .0
Technology Hardware & Equipment		4 .3
Telecommunication Services		5 .4
Transportation		2 .3
Utilities		5 .2
Short-Term Investments		1 .5
Other Assets and Liabilities		1 .8
Total		100.0	%

FAS 157 Disclosure of Investment Valuation Hierarchy Levels
Assets:
Investment in securities — Level 1	$	2,531
Investment in securities — Level 2		9,417
Investment in securities — Level 3		1
Total	$	11,949
Other financial instruments — Level 2 *		2
Total	$	2
Liabilities:
Other financial instruments — Level 2 *		2
Total	$	2

* Other financial instruments are derivative instruments not reflected in the Schedule of Investments, such as futures, forwards and swap contracts, which are valued at the unrealized appreciation/depreciation on the investment.

Following is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value:

Assets:
Securities:
Balance as of October 31, 2008	$	1
Change in unrealized appreciation ♦		1
Net sales		(1	)
Balance as of April 30, 2009	$	1
♦  Change in unrealized gains or losses relating to assets still held at April 30, 2009	$	1

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

12

The Hartford Diversified International Fund

Statement of Assets and Liabilities

April 30, 2009 (Unaudited)

(000’s Omitted)

Assets:
Investments in securities, at fair value (cost $13,048)	$	11,949
Cash		19
Foreign currency on deposit with custodian (cost $19)		19
Unrealized appreciation on forward foreign currency contracts		2
Receivables:
Investment securities sold		225
Fund shares sold		4
Dividends and interest		74
Other assets		147
Total assets		12,439
Liabilities:
Unrealized depreciation on forward foreign currency contracts		2
Payables:
Investment securities purchased		254
Investment management fees		2
Distribution fees		1
Accrued expenses		9
Total liabilities		268
Net assets	$	12,171
Summary of Net Assets:
Capital stock and paid-in-capital		20,711
Accumulated undistributed net investment income		67
Accumulated net realized loss on investments and foreign currency transactions		(7,509	)
Unrealized depreciation of investments and the translation of assets and liabilities denominated in foreign currency		(1,098	)
Net assets	$	12,171
Shares authorized		525,000
Par value	$	0.001
Class A: Net asset value per share/Maximum offering price per share	$	5.75/$6.08
Shares outstanding		495
Net assets	$	2,847
Class B: Net asset value per share	$	5.73
Shares outstanding		107
Net assets	$	616
Class C: Net asset value per share	$	5.73
Shares outstanding		108
Net assets	$	617
Class I: Net asset value per share	$	5.76
Shares outstanding		100
Net assets	$	578
Class R3: Net asset value per share	$	5.75
Shares outstanding		100
Net assets	$	575
Class R4: Net asset value per share	$	5.75
Shares outstanding		100
Net assets	$	577
Class R5: Net asset value per share	$	5.76
Shares outstanding		100
Net assets	$	578
Class Y: Net asset value per share	$	5.76
Shares outstanding		1,004
Net assets	$	5,783

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

13

The Hartford Diversified International Fund

Statement of Operations

For the Six Month Period Ended April 30, 2009 (Unaudited)

(000’s Omitted)

Investment Income:
Dividends	$	199
Interest		—
Less: Foreign tax withheld		(21	)
Total investment income		178
Expenses:
Investment management fees		55
Transfer agent fees		1
Distribution fees
Class A		3
Class B		3
Class C		3
Class R3		1
Class R4		1
Custodian fees		26
Accounting services		1
Registration and filing fees		48
Board of Directors’ fees		—
Audit fees		3
Other expenses		10
Total expenses (before waivers and fees paid indirectly)		155
Expense waivers		(71	)
Commission recapture		—
Custodian fee offset		—
Total waivers and fees paid indirectly		(71	)
Total expenses, net		84
Net investment income		94
Net Realized Loss on Investments and Foreign Currency Transactions:
Net realized loss on investments in securities		(4,440	)
Net realized gain on foreign currency transactions		13
Net Realized Loss on Investments and Foreign Currency Transactions		(4,427	)
Net Changes in Unrealized Appreciation of Investments and Foreign Currency Transactions:
Net unrealized appreciation of investments		4,137
Net unrealized depreciation on translation of other assets and liabilities in foreign currencies		(15	)
Net Changes in Unrealized Appreciation of Investments and Foreign Currency Transactions		4,122
Net Loss on Investments and Foreign Currency Transactions		(305	)
Net Decrease in Net Assets Resulting from Operations	$	(211	)

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

14

The Hartford Diversified International Fund

Statement of Changes in Net Assets

(000’s Omitted)

	For the Six-Month			For the Period
	Period Ended			June 30, 2008**
	April 30, 2009			through
	(Unaudited)			October 31, 2008
Operations:
Net investment income	$	94		$	27
Net realized loss on investments and foreign currency transactions		(4,427	)		(3,115	)
Net unrealized appreciation (depreciation) of investments and foreign currency transactions		4,122			(5,220	)
Net decrease in net assets resulting from operations		(211	)		(8,308	)
Distributions to Shareholders:
From net investment income
Class A		(8	)		—
Class I		(3	)		—
Class R3		—			—
Class R4		(1	)		—
Class R5		(2	)		—
Class Y		(25	)		—
Total distributions		(39	)		—
Capital Share Transactions:
Class A		364			4,238
Class B		38			1,005
Class C		21			1,034
Class I		2			1,000
Class R3		—			1,000
Class R4		1			1,000
Class R5		2			1,000
Class Y		24			10,000
Net increase from capital share transactions		452			20,277
Net increase in net assets		202			11,969
Net Assets:
Beginning of period		11,969			—
End of period	$	12,171		$	11,969
Accumulated undistributed net investment income	$	67		$	12

^** Commencement of operations.

15

The Hartford Diversified International Fund

Notes to Financial Statements

April 30, 2009 (Unaudited)

(000’s Omitted)

1.	Organization:
	The Hartford Mutual Funds, Inc. (“Company”) is an open-end management investment company comprised of fifty-two portfolios. Financial statements for The Hartford Diversified International Fund (the “Fund”), a series of the Company, are included in this report.
	The Company is organized under the laws of the State of Maryland and is registered with the Securities and Exchange Commission (“SEC”) under the Investment Company Act of 1940, as amended (“1940 Act”). The Fund is a diversified open-end management investment company.
	Class A shares are sold with a front-end sales charge of up to 5.50%. Class B shares are sold with a contingent deferred sales charge which is assessed on the lesser of the per share net asset value (“NAV”) of the shares at the time of redemption or the original purchase price, and declines from up to 5.00% to zero depending on the period of time the shares are held. Class C shares are sold with a contingent deferred sales charge of up to 1.00% on shares redeemed within twelve months of purchase. Class I shares are sold without sales charges to certain eligible investors through advisory fee-based wrap programs. Classes R3, R4, R5 shares, which are offered to employer-sponsored retirement plans, and Class Y shares, which are sold to certain eligible institutional investors, are sold without a sales charge. All classes of shares have identical voting, redemption, dividend, liquidation and other rights and the same terms and conditions, with the exceptions that each class may have different expenses, which may affect performance, and except that Class B shares automatically convert to Class A shares after 8 years.
	Effective at the close of business on September 30, 2009 (the “Close Date”), no new or additional investments will be allowed in Class B shares of The Hartford Mutual Funds (including investments through any systematic investment plan). After the Close Date, existing shareholders of Class B shares may continue to hold their Class B shares, exchange their Class B shares for Class B shares of another Hartford Mutual Fund (as permitted by existing exchange privileges), and redeem their Class B shares as described in the Fund’s prospectus. Reinstatement privileges with respect to Class B shares will continue under the current policy. If you have chosen to reinvest capital gains and dividends, any such capital gains or dividends on Class B shares will continue to be reinvested in Class B shares of the Fund. For Class B shares outstanding as of the Close Date, all Class B share attributes, including the 12b-1 fee, contingent deferred sales charge schedule, and conversion to Class A shares remain unchanged.
2.	Significant Accounting Policies:
	The following is a summary of significant accounting policies of the Fund, which are in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”).

a)	Security Transactions and Investment Income - Security transactions are recorded on the trade date (the date the order to buy or sell is executed). Security gains and losses are determined on the basis of identified cost.
	Dividend income is accrued as of the ex-dividend date, except that certain dividends for foreign securities where the ex-dividend date may have passed are recorded as soon as the Fund is informed of the dividend in the exercise of reasonable diligence. Interest income, including amortization of premium and accretion of discounts, is accrued on a daily basis.
b)	Security Valuation - The Fund generally uses market prices in valuing portfolio securities. If market prices are not readily available or are deemed unreliable, the Fund will use the fair value of the security as determined in good faith under policies and procedures established by and under the supervision of the Fund’s Board of Directors. Market prices may be deemed unreliable, for example, if a security is thinly traded or if an event has occurred after the close of the security’s primary markets, but before the close of the New York Stock Exchange (the “Exchange”) (normally 4:00 p.m. Eastern Time, referred to as the “Valuation Time”) that is expected to affect the value of the portfolio security. The circumstances in which the Fund may use fair value pricing include, among others: (i) the occurrence of events that are significant to a particular issuer, such as mergers, restructuring or defaults; (ii) the occurrence of events that are

16

significant to an entire market, such as natural disasters in a particular region or governmental actions; (iii) trading restrictions on securities; (iv) thinly traded securities and (v) market events such as trading halts and early market closings. In addition, with respect to the valuation of stocks primarily traded on foreign markets, the Fund uses a fair value pricing service approved by the Fund’s Board of Directors, which employs quantitative models that evaluate changes in the value of foreign market proxies (e.g., futures contracts, ADR’s, exchange traded funds (“ETF’s”)) after the close of the foreign markets but before the close of the Exchange. Securities that are primarily traded on foreign markets may trade on days that are not business days of the Fund. The value of the foreign securities in which the Fund invests may change on days when a shareholder will not be able to purchase or redeem shares of the Fund. Fair value pricing is subjective in nature and the use of fair value pricing by the Fund may cause the NAV of its shares to differ significantly from the NAV that would have been calculated using market prices at the close of the exchange on which a portfolio security is primarily traded but before the close of the Exchange. There can be no assurance that the Fund could obtain the fair value assigned to a security if the Fund were to sell the security at approximately the time at which the Fund determines its NAV.

Debt securities (other than short-term obligations and senior floating rate interests) held by the Fund are valued on the basis of valuations furnished by an independent pricing service which determines valuations for normal institutional size trading units of debt securities. Senior floating rate interests generally trade in over-the-counter markets and are priced through an independent pricing service utilizing independent market quotations from loan dealers or financial institutions. Securities for which prices are not available from an independent pricing service are valued using market quotations obtained from one or more dealers that make markets in the securities in accordance with procedures established by the Fund’s Board of Directors. Generally, the Fund may use fair valuation in regard to debt securities when the Fund holds defaulted or distressed securities or securities in a company in which a reorganization is pending. Short-term investments with a maturity of more than 60 days when purchased are valued based on market quotations until the remaining days to maturity become less than 61 days. Investments that mature in 60 days or less are valued at amortized cost, which approximates market value.

Exchange traded equity securities shall be valued at the last reported sale price on the exchange or market on which the security is primarily traded (the “Primary Market”) at the Valuation Time. If the security did not trade on the Primary Market, it may be valued at the Valuation Time at the last reported sale price on another exchange where it trades. The value of an equity security not traded on any exchange but traded on the Nasdaq Stock Market, Inc. (“Nasdaq”) or another over-the-counter market shall be valued at the last reported sale price or official closing price on the exchange or market on which the security is traded as of the Valuation Time. If it is not possible to determine the last reported sale price or official closing price on the relevant exchange or market at the Valuation Time, the value of the security shall be taken to be the most recent mean between bid and asked prices on such exchange or market at the Valuation Time. Securities of foreign issuers and non-dollar securities are translated from the local currency into U.S. dollars using prevailing exchange rates.

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

A forward currency contract shall be valued based on the price of the underlying currency at the prevailing interpolated exchange rate, which is a combination of the spot currency rate and the forward currency rate. Spot currency rates and forward currency rates are obtained from an independent pricing service on a daily basis not more than one hour before the Valuation Time.

Other derivative or contractual type instruments shall be valued using market prices if such instruments trade on an exchange or market. If such instruments do not trade on an exchange or market, such instruments shall be valued at a price at which the counterparty to such contract would repurchase the instrument. In the event that the counterparty cannot provide a price, such valuation may be determined in accordance with procedures established by the Fund’s Board of Directors.

17

The Hartford Diversified International Fund
Notes to Financial Statements—(continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

c)	Foreign Currency Transactions - The accounting records of the Fund are maintained in U.S. dollars. All assets and liabilities initially expressed in foreign currencies are converted into U.S. dollars at the prevailing exchange rates. Purchases and sales of investment securities, dividend and interest income and certain expenses are translated at the rates of exchange prevailing on the respective dates of such transactions.
	The Fund does not isolate that portion of portfolio security valuation resulting from fluctuations in the foreign currency exchange rates on portfolio securities from the fluctuations arising from changes in the market prices of securities held. Such fluctuations are included with the net realized and unrealized gain or loss on investments in the accompanying financial statements.
	Net realized foreign exchange gains or losses arise from sales of foreign currencies and the difference between asset and liability amounts initially stated in foreign currencies and the U.S. dollar value of the amounts actually received or paid. Net unrealized foreign exchange gains or losses arise from changes in the value of other assets and liabilities at the end of the reporting period, resulting from changes in the exchange rates.
d)	Joint Trading Account - Pursuant to an exemptive order issued by the SEC, the Fund may transfer uninvested cash balances into a joint trading account managed by Wellington Management Company, LLP (“Wellington”). These balances may be invested in one or more repurchase agreements and/or short-term money market instruments.
e)	Repurchase Agreements - A repurchase agreement is an agreement by which the seller of a security agrees to repurchase the security sold at a mutually agreed upon time and price. At the time the Fund enters into a repurchase agreement, the value of the underlying collateral security(ies), including accrued interest, will be equal to or exceed the value of the repurchase agreement. Securities that serve to collateralize the repurchase agreement are held by the Fund’s custodian in book entry or physical form in the custodial account of the Fund or in a third party custodial account. Repurchase agreements are valued at cost plus accrued interest. The Fund, as shown on the Schedule of Investments, had outstanding repurchase agreements as of April 30, 2009.
f)	Forward Foreign Currency Contracts - The Fund may enter into forward foreign currency contracts that obligate the Fund to repurchase/replace or sell currencies at specified future dates. Forward foreign currency contracts may be used to hedge against adverse fluctuations in exchange rates between currencies.
	Forward foreign currency contracts involve elements of market risk in excess of the amount reflected in the Statement of Assets and Liabilities. In addition, risks may arise upon entering into these contracts from the potential inability of the counterparties to meet the terms of the contracts and from unanticipated movements in the value of the foreign currencies relative to the U.S. dollar.
g)	Indexed Securities - The Fund may invest in indexed securities whose values are linked to changes in interest rates, indices, or other underlying instruments. The Fund uses these securities to increase or decrease its exposure to different underlying instruments and to gain exposure to markets that might be difficult to invest in using conventional securities. Indexed securities may be more volatile than their underlying instruments, but any loss is limited to the amount of the original investment and there may be a limit to the potential appreciation of the investment. The Fund had investments in indexed securities as of April 30, 2009, as shown on the Schedule of Investments under Exchange Traded Funds.
h)	Fund Share Valuation and Dividend Distributions to Shareholders — Orders for the Fund’s shares are executed in accordance with the investment instructions of the shareholders. The NAV of the Fund’s shares is determined as of the close of each business day of the Exchange. The NAV is determined separately for each class of the Fund by dividing the Fund’s net assets attributable to that class by the number of shares of the class outstanding. Orders for the purchase of the Fund’s shares prior to the close of the Exchange on any day on which the Exchange is open for business are priced at the NAV determined as of the close of the Exchange. Orders after the close of the Exchange, or on a day on which the Exchange and/or the Fund is not open for business, are priced at the next determined NAV.

18

	The Fund intends to distribute substantially all of its net investment income and net realized capital gains to shareholders no less frequently than once a year. Normally, dividends from net investment income are declared and paid annually. Dividends are paid on shares beginning on the business day after the day when the funds used to purchase the shares are collected by the transfer agent for the Fund. Unless shareholders specify otherwise, all dividends will be automatically reinvested in additional full or fractional shares of the Fund.
	Distributions from net investment income, realized capital gains and capital are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP with respect to character and timing. These differences include but are not limited to foreign currency gains and losses, losses deferred due to wash sales adjustments, adjustments related to Passive Foreign Investment Companies and certain derivatives, and excise tax regulations. Permanent book and federal income tax basis differences relating to shareholder distributions will result in reclassifications to certain of the Fund’s capital accounts (see Federal Income Taxes: Reclassification of Capital Accounts footnote).
i)	Illiquid and Restricted Securities - The Fund is permitted to invest up to 15% of its net assets in illiquid securities. “Illiquid Securities” are those that may not be sold or disposed of in the ordinary course of business within seven days, at approximately the price used to determine the Fund’s NAV. The Fund may not be able to sell illiquid securities or other investments when its sub-adviser considers it desirable to do so or may have to sell such securities or investments at a price that is lower than the price that could be obtained if the securities or investments were more liquid. A sale of illiquid securities or other investments may require more time and may result in higher dealer discounts and other selling expenses than does the sale of those that are liquid. Illiquid securities and investments also may be more difficult to value, due to the unavailability of reliable market quotations for such securities or investments, and investment in them may have an adverse impact on the Fund’s NAV. The Fund may also purchase certain restricted securities, commonly known as Rule 144A securities, that can be resold to institutions and which may be determined to be liquid pursuant to policies and guidelines established by the Fund’s Board of Directors. The Fund, as shown in the Schedule of Investments, had illiquid or restricted securities as of April 30, 2009.
j)	Securities Purchased on a When-Issued or Delayed-Delivery Basis — Delivery and payment for securities that have been purchased by the Fund on a forward commitment, or when-issued or delayed-delivery basis take place beyond the customary settlement period. During this period, such securities are subject to market fluctuations, and the Fund identifies securities segregated in its records with value at least equal to the amount of the commitment. As of April 30, 2009, the Fund had entered into outstanding when-issued or forward commitments with a cost of $45.
k)	Use of Estimates — The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and the reported amounts of income and expenses during the period. Operating results in the future could vary from the amounts derived from management’s estimates.
l)	Financial Accounting Standards Board Financial Accounting Standards No. 157 - Effective November 1, 2008, the Fund adopted Financial Accounting Standards Board (“FASB”) Statement of Financial Accounting Standards No. 157, “Fair Value Measurements” (“FAS 157”). This standard clarifies the definition of fair value for financial reporting, establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements. Fair value is defined under FAS 157 as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Under FAS 157, a fair value measurement should reflect all of the assumptions that market participants would use in pricing the asset or liability, including assumptions about the risk inherent in a particular valuation technique, the effect of a restriction on the sale or use of an asset, and the risk of nonperformance.
	Various inputs are used in determining the value of the Fund’s investment. These inputs are summarized, per FAS 157, into three broad hierarchy levels. This hierarchy is based on whether the valuation inputs are observable or unobservable. These levels are:

19

The Hartford Diversified International Fund
Notes to Financial Statements—(continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

• Level 1 — Quoted prices in active markets for identical securities. Level 1 includes exchange-traded instruments such as domestic equities, some foreign equities, options, futures, mutual funds, ETF’s, and rights and warrants.

• Level 2 — Observable inputs other than Level 1 prices, such as quoted prices for similar securities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the security. Level 2 includes debt securities that are traded less frequently than exchange-traded instruments and that are valued using third party pricing services and foreign equities, whose value is determined using a multi-factor regression model with inputs that are observable in the market; and money market instruments, which are carried at amortized cost.

• Level 3 — Significant unobservable inputs that are supported by little or no market activity. Level 3 includes financial instruments whose values are determined using broker quotes and require significant management judgment or estimation. This category includes broker quoted securities, long dated OTC options and securities where trading has been halted or there are certain restrictions on trading. While these securities are priced using unobservable inputs, the valuation of these securities reflects the best available data and management believes the prices are a good representation of exit price.

	Individual securities within any of the above mentioned asset classes may be assigned a different hierarchical level than those presented above, as individual circumstances dictate.
	FAS 157 also requires that a roll forward reconciliation be shown for all Level 3 securities from the beginning of the reporting period to the end of the reporting period. Part of this reconciliation includes transfers in and/or out of Level 3. For purposes of this reconciliation, transfers in are shown at the end of period fair value and transfers out are shown at the beginning of period fair value.
	Refer to the valuation hierarchy levels summary and the Level 3 roll forward reconciliation found following the Schedule of Investments.
	FASB Staff Position No. 157-4 - In April 2009, FASB released FASB Staff Position No. 157-4, “Determining Fair Value When the Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly” (“FSP FAS 157-4”). FSP FAS 157-4 provides additional guidance on determining whether a market for a financial asset is not active and a transaction is not distressed when measuring fair value under FAS 157. The FSP also requires additional disclosure detail on debt and equity securities by major investment categories. FSP FAS 157-4 is effective for interim and annual periods ending after June 15, 2009. At this time, management is evaluating the implications of FSP FAS 157-4 and does not believe it will impact valuation but will require additional disclosure. This additional disclosure has not yet been implemented.
m)	Financial Accounting Standards Board Financial Accounting Standards No. 161 - In March 2008, the FASB released Statement of Financial Accounting Standards No. 161, “Disclosures about Derivative Instruments and Hedging Activities” (“FAS 161”). FAS 161 requires companies to disclose information detailing the objectives and strategies for using derivative instruments, the level of derivative activity entered into by the company and any credit risk-related contingent features of the agreements. The application of FAS 161 is required for fiscal years and interim periods beginning after November 15, 2008. At this time, management is evaluating the implications of FAS 161 and has not yet implemented the new disclosure standard.
n)	Indemnifications: Under the Company’s organizational documents, the Company shall indemnify its officers and directors to the full extent required or permitted under Maryland General Corporation Law and the federal securities law. In addition, the Company, on behalf of the Fund, may enter into contracts that contain a variety of indemnifications. The Company’s maximum exposure under these arrangements is unknown. However, the Company has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote.

20

3. Federal Income Taxes:

a)

Federal Income Taxes — For federal income tax purposes, the Fund intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code (“IRC”) by distributing substantially all of its taxable net investment income and net realized capital gains to its shareholders and otherwise complying with the requirements of regulated investment companies. The Fund has distributed substantially all of its income and capital gains in prior years and the Fund intends to distribute substantially all of its income and gains during the calendar year ending December 31, 2009. Accordingly, no provision for federal income or excise taxes has been made in the accompanying financial statements. Distributions from short-term capital gains are treated as ordinary income distributions for federal income tax purposes.

b)

As of October 31, 2008, the Fund’s components of distributable earnings (deficit) on a tax basis were as follows:

	Amount
Undistributed Ordinary Income	$	28
Accumulated Capital Losses*	$	(2,149	)
Unrealized Depreciation†	$	(6,169	)
Total Accumulated Deficit	$	(8,290	)

*	The Fund has capital loss carryforwards that are identified in the Capital Loss Carryforward note that follows.
†	The differences between book-basis and tax-basis unrealized appreciation (depreciation) are attributable to the tax deferral of wash sales losses, the mark-to-market adjustment for certain derivatives in accordance with IRC Sec. 1256, the mark to market for Passive Foreign Investment Companies and basis differences in real estate investment trusts.

c)

Reclassification of Capital Accounts — In accordance with American Institute of Certified Public Accountants (AICPA) Statement of Position 93-2, Determination, Disclosure, and Financial Statement Presentation of Income, Capital Gain, and Return of Capital Distributions by Investment Companies, the Fund has recorded reclassifications in its capital accounts. These reclassifications had no impact on the NAV of the Fund. The reclassifications are a result of permanent differences between GAAP and tax accounting for such items as net operating losses that reduce distribution requirements. Adjustments are made to reflect the impact these items have on current and future distributions to shareholders. Therefore, the source of the Fund’s distributions may be shown in the accompanying Statement of Changes in Net Assets as from net investment income, from net realized gains on investments or from capital depending on the type of book and tax differences that exist. As of October 31, 2008, the Fund recorded reclassifications to decrease undistributed net investment income by $15, increase accumulated net realized gain by $33, and decrease paid in capital by $18.

d)

Capital Loss Carryforward — At October 31, 2008 (tax-year-end), the Fund had capital loss carryforwards for U.S. federal income tax purposes of approximately:

Year	Amount
2016	$	2,149
Total	$	2,149

e) Financial Accounting Standards Board Interpretation No. 48 — On July 13, 2006, the FASB released FASB Interpretation No. 48 “Accounting for Uncertainty in Income Taxes” (“FIN 48”). FIN 48 provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. The Fund adopted FIN 48 for fiscal years beginning after December 15, 2006. Management has evaluated the implications of FIN 48 for all open tax years (tax years ended October 31, 2006 — 2008) and has determined there is no impact to the Fund’s financial statements.

21

The Hartford Diversified International Fund
Notes to Financial Statements—(continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

4. Expenses:

a)

Investment Management Agreements — Hartford Investment Financial Services, LLC (“HIFSCO”) serves as investment manager to the Fund pursuant to an Investment Management Agreement with The Hartford Mutual Funds, Inc. As investment manager, HIFSCO has overall investment supervisory responsibility for the Fund. In addition, HIFSCO provides administrative personnel, services, equipment, facilities and office space for proper operation of the Fund. HIFSCO has contracted with Wellington for the provision of day-to-day investment management services to the Fund in accordance with the Fund’s investment objective and policies. The Fund pays a fee to HIFSCO, a portion of which may be used to compensate Wellington.

The schedule below reflects the rates of compensation paid to HIFSCO for investment management services rendered during the six-month period ended April 30, 2009; the rates are accrued daily and paid monthly:

Average Daily Net Assets	Annual Fee
On first $500 million		1.0000	%
On next $500 million		0.9500	%
On next $4 billion		0.9000	%
On next $5 billion		0.8975	%
Over $10 billion		0.8950	%

b) Accounting Services Agreement — Pursuant to the Fund Accounting Agreement between Hartford Life Insurance Company (“HLIC”) and the Fund, HLIC provides accounting services to the Fund and receives monthly compensation on the Fund’s average net assets. The Fund’s accounting service fees are accrued daily and paid monthly.

Average Daily Net Assets	Annual Fee
On first $5 billion		0.018	%
On next $5 billion		0.016	%
Over $10 billion		0.014	%

c) Operating Expenses — Allocable expenses incurred by the Company are allocated to each Fund and allocated to classes within the Fund in proportion to the average daily net assets of the Fund and each class, except where allocation of certain expenses is more fairly made directly to the Fund or to specific classes within a Fund. During the six-month period ended April 30, 2009, HIFSCO has contractually limited the total operating expenses of this Fund, exclusive of taxes, interest expense, brokerage commissions, certain distribution expenses and extraordinary expenses as follows:

Class A	Class B	Class C	Class I	Class R3	Class R4	Class R5	Class Y
1.65%	2.40%	2.40%	1.40%	1.90%	1.65%	1.40%	1.30%

d) Fees Paid Indirectly — The Fund has entered into agreements with State Street Global Markets, LLC and Russell Implementation Services Inc. to partially recapture non-discounted trade commissions. Such rebates are used to pay a portion of the Fund’s expenses. In addition, the Fund’s custodian bank has also agreed to reduce its fees when the Fund maintains cash on deposit in the non-interest-bearing custody account. For the six-month period ended April 30, 2009, these amounts are included in the Statement of Operations.

22

The ratio of expenses to average net assets in the accompanying financial highlights excludes the reduction in expenses related to fees paid indirectly. Had the fees paid indirectly been included, the annualized expense ratio for the periods listed below would have been as follows:

	Annualized
	Six-Month
	Period			Year Ended
	Ended April			October 31,
	30, 2009			2008
Class A Shares		1.61	%		1.57	%*
Class B Shares		2.34			2.30	†
Class C Shares		2.35			2.31	‡
Class I Shares		1.31			1.29	§
Class R3 Shares		1.89			1.89	**
Class R4 Shares		1.64			1.64	††
Class R5 Shares		1.39			1.39	‡‡
Class Y Shares		1.29			1.30	§§

*	From June 30, 2008 (commencement of operations), through October 31, 2008
†	From June 30, 2008 (commencement of operations), through October 31, 2008
‡	From June 30, 2008 (commencement of operations), through October 31, 2008
§	From June 30, 2008 (commencement of operations), through October 31, 2008
**	From June 30, 2008 (commencement of operations), through October 31, 2008
††	From June 30, 2008 (commencement of operations), through October 31, 2008
‡‡	From June 30, 2008 (commencement of operations), through October 31, 2008
§§	From June 30, 2008 (commencement of operations), through October 31, 2008

e)

Distribution and Service Plan for Class A, B, C, R3 and R4 Shares — HIFSCO is the principal underwriter and distributor of the Fund. HIFSCO is engaged in distribution activities, which include marketing and distribution of shares through broker-dealers, financing distribution costs and maintaining financial books and records. For the six-month period ended April 30, 2009, HIFSCO received front-end load sales charges of $5 and contingent deferred sales charges in an amount that rounds to zero from the Fund.

The Fund has adopted Distribution and Service Plans in accordance with Rule 12b-1 of the Investment Company Act of 1940, as amended, to compensate the distributor (HIFSCO) for activities intended to result in the sale and distribution of Classes A, B, C, R3 and R4 shares and for providing services for shareholders. The Rule 12b-1 plan applicable to Class A shares of the Funds provides for payment of a Rule 12b-1 fee of up to 0.35% of average daily net assets; however, the Board of Directors has currently authorized 12b-1 payments of only up to 0.25%. Some or all of the fee may be used for shareholder servicing expenses with the remainder used for distribution expenses. Some or the entire Rule 12b-1 fee for Class B shares may be remitted to broker-dealers for distribution and/or shareholder account services. Under the Class B Plan, the Fund pays the distributor 1.00% of the average daily net assets of Class B shares that are outstanding for 8 years or less, 0.25% of which is a fee for services provided to existing shareholders with the remainder used for distribution expenses. After eight years, Class B shares convert to Class A shares. Upon conversion to Class A shares, the Class A plan described above will apply to those shares. Under the Class C Plan, the Fund pays the distributor 1.00% of the average daily net assets of Class C shares outstanding, 0.25% of which is intended as a fee for services provided to existing shareholders with the remainder used for distribution expenses. For Class C shares, some or the entire fee may be remitted to broker-dealers for distribution and/or shareholder account services. Class R3 shares have a distribution fee of 0.50% and Class R4 shares have a distribution fee of 0.25%. For Classes R3 and R4 shares, some or the entire fee may be remitted to broker dealers for distribution and/or shareholder account services. The Fund’s 12b-1 fees are accrued daily and paid monthly.

23

The Hartford Diversified International Fund
Notes to Financial Statements—(continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

For the six-month period ended April 30, 2009, total sales commissions paid to affiliated brokers/dealers of The Hartford for distributing the Fund’s shares rounds to zero. These commissions are in turn paid to sales representatives of the broker/dealers.

f)

Other Related Party Transactions — Certain officers of the Fund are directors and/or officers of HIFSCO and/or The Hartford or its subsidiaries. For the six-month period ended April 30, 2009, a portion of the Fund’s chief compliance officer’s salary was paid by the Fund in an amount, which rounds to zero. Hartford Administrative Services Company (“HASCO”), an indirect wholly owned subsidiary of The Hartford, provides transfer agent services to the Fund. HASCO was compensated $1 for providing such services. These fees are accrued daily and paid monthly.

5. Affiliate Holdings:

As of April 30, 2009, affiliates of The Hartford had ownership of shares in the Fund as follows:

	Shares
Class A		401
Class B		100
Class C		100
Class I		100
Class R3		100
Class R4		100
Class R5		100
Class Y		1,004

6. Investment Transactions:

For the six-month period ended April 30, 2009, the Fund’s aggregate purchases and sales of investment securities (excluding short-term investments) were as follows:

	Amount
Cost of Purchases Excluding U.S. Government Obligations	$	9,898
Sales Proceeds Excluding U.S. Government Obligations		9,313

24

7. Capital Share Transactions:

The following information is for the six-month period ended April 30, 2009 and the period June 30, 2008 through October 31, 2008:

	For the Six-Month Period Ended April 30, 2009												For the Period June 30, 2008 through October 31, 2008
				Shares					Shares						Shares					Shares
				Issued for					Issued		Net Increase				Issued for					Issued		Net Increase
	Shares			Reinvested		Shares			from		(Decrease) of		Shares		Reinvested		Shares			from		(Decrease) of
	Sold			Dividends		Redeemed			Merger		Shares		Sold		Dividends		Redeemed			Merger		Shares
Class A
Shares		78			1		(14	)		—		65		432		—		(2	)		—		430
Amount	$	431		$	8	$	(75	)	$	—	$	364	$	4,256	$	—	$	(18	)	$	—	$	4,238
Class B
Shares		6			—		—			—		6		101		—		—			—		101
Amount	$	39		$	—	$	(1	)	$	—	$	38	$	1,005	$	—	$	—		$	—	$	1,005
Class C
Shares		12			—		(8	)		—		4		105		—		(1	)		—		104
Amount	$	63		$	—	$	(42	)	$	—	$	21	$	1,038	$	—	$	(4	)	$	—	$	1,034
Class I
Shares		—			—		—			—		—		100		—		—			—		100
Amount	$	—		$	2	$	—		$	—	$	2	$	1,000	$	—	$	—		$	—	$	1,000
Class R3
Shares		—			—		—			—		—		100		—		—			—		100
Amount	$	—		$	—	$	—		$	—	$	��	$	1,000	$	—	$	—		$	—	$	1,000
Class R4
Shares		—			—		—			—		—		100		—		—			—		100
Amount	$	—		$	1	$	—		$	—	$	1	$	1,000	$	—	$	—		$	—	$	1,000
Class R5
Shares		—			—		—			—		—		100		—		—			—		100
Amount	$	—		$	2	$	—		$	—	$	2	$	1,000	$	—	$	—		$	—	$	1,000
Class Y
Shares		—			4		—			—		4		1,000		—		—			—		1,000
Amount	$	(1	)	$	25	$	—		$	—	$	24	$	10,000	$	—	$	—		$	—	$	10,000

8. Line of Credit:

The Fund is one of several Hartford Funds that participate in a $500 million committed revolving line of credit facility. The facility is to be used for temporary or emergency purposes. Under the arrangement, the Fund is required to own securities having a market value in excess of 300% of the total bank borrowings. The interest rate on borrowings varies depending on the nature of the loan. The facility also requires a fee to be paid based on the amount of the commitment. During the six-month period ended April 30, 2009, the Fund did not have any borrowings under this facility.

9. Industry Classifications:

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

25

The Hartford Diversified International Fund

Financial Highlights—(Unaudited)

	- Selected Per-Share Data - (a)																												- Ratios and Supplemental Data -
																																		Ratio of			Ratio of			Ratio of
																																		Expenses			Expenses			Expenses
																																		to Average			to Average			to Average
																																		Net Assets			Net Assets			Net Assets
																																		Before			After			After
								Net																										Waivers			Waivers			Waivers
								Realized																										and			and			and
								and Un-									Distrib-							Net										Reimburse-			Reimburse-			Reimburse-			Ratio of
			Net			Pay-		realized						Dividends			utions							Increase			Net					Net		ments and			ments and			ments and			Net Invest-			Port-
	Net Asset		Invest-			ments		Gain						from Net			from		Distri-					(Decrease)			Asset					Assets at		Including			Including			Excluding			ment			folio
	Value at		ment			from		(Loss) on			Total from			Invest-			Realized		butions		Total			in Net			Value at					End of		Expenses			Expenses			Expenses			Income to			Turn-
	Beginning		Income			(to)		Invest-			Investment			ment			Capital		from		Distri-			Asset			End of		Total			Period		not Subject			not Subject			not Subject			Average			over
Class	of Period		(Loss)			Affiliate		ments			Operations			Income			Gains		Capital		butions			Value			Period		Return(b)			(000’s)		to Cap(c)			to Cap(c)			to Cap(c)			Net Assets			Rate(d)
For the Six-Month Period Ended April 30, 2009 (Unaudited)
A	$	5.88	$	0.05		$	—	$	(0.16	)	$	(0.11	)	$	(0.02	)	$	—	$	—	$	(0.02	)	$	(0.13	)	$	5.75		(1.90	)%(e)	$	2,847		2.89	%(f)		1.62	%(f)		1.62	%(f)		1.77	%(f)		85	%
B		5.87		0.03			—		(0.17	)		(0.14	)		—			—		—		—			(0.14	)		5.73		(2.39	) (e)		616		3.62	(f)		2.35	(f)		2.35	(f)		1.03	(f)		—
C		5.87		0.03			—		(0.17	)		(0.14	)		—			—		—		—			(0.14	)		5.73		(2.39	) (e)		617		3.62	(f)		2.35	(f)		2.35	(f)		1.00	(f)		—
I		5.89		0.05			—		(0.16	)		(0.11	)		(0.02	)		—		—		(0.02	)		(0.13	)		5.76		(1.78	) (e)		578		2.58	(f)		1.31	(f)		1.31	(f)		2.04	(f)		—
R3		5.87		0.04			—		(0.16	)		(0.12	)		—			—		—		—			(0.12	)		5.75		(2.17	) (e)		575		3.28	(f)		1.90	(f)		1.90	(f)		1.44	(f)		—
R4		5.88		0.05			—		(0.17	)		(0.12	)		(0.01	)		—		—		(0.01	)		(0.13	)		5.75		(2.01	) (e)		577		2.98	(f)		1.65	(f)		1.65	(f)		1.69	(f)		—
R5		5.88		0.05			—		(0.15	)		(0.10	)		(0.02	)		—		—		(0.02	)		(0.12	)		5.76		(1.84	) (e)		578		2.68	(f)		1.40	(f)		1.40	(f)		1.94	(f)		—
Y		5.89		0.05			—		(0.16	)		(0.11	)		(0.02	)		—		—		(0.02	)		(0.13	)		5.76		(1.77	) (e)		5,783		2.58	(f)		1.30	(f)		1.30	(f)		2.04	(f)		—
From (commencement of operations) June 30, 2008, through October 31, 2008
A(g)		10.00		0.01			—		(4.13	)		(4.12	)		—			—		—		—			(4.12	)		5.88		(41.20	) (e)		2,528		2.01	(f)		1.57	(f)		1.57	(f)		0.26	(f)		67
B(h)		10.00		(0.01	)		—		(4.12	)		(4.13	)		—			—		—		—			(4.13	)		5.87		(41.30	) (e)		591		2.74	(f)		2.31	(f)		2.31	(f)		(0.48	) (f)		—
C(i)		10.00		(0.01	)		—		(4.12	)		(4.13	)		—			—		—		—			(4.13	)		5.87		(41.30	) (e)		611		2.75	(f)		2.32	(f)		2.32	(f)		(0.49	) (f)		—
I(j)		10.00		0.01			—		(4.12	)		(4.11	)		—			—		—		—			(4.11	)		5.89		(41.10	) (e)		589		1.74	(f)		1.30	(f)		1.30	(f)		0.53	(f)		—
R3(k)		10.00		—			—		(4.13	)		(4.13	)		—			—		—		—			(4.13	)		5.87		(41.30	) (e)		588		2.44	(f)		1.90	(f)		1.90	(f)		(0.07	) (f)		—
R4(l)		10.00		—			—		(4.12	)		(4.12	)		—			—		—		—			(4.12	)		5.88		(41.20	) (e)		588		2.14	(f)		1.65	(f)		1.65	(f)		0.18	(f)		—
R5(m)		10.00		0.01			—		(4.13	)		(4.12	)		—			—		—		—			(4.12	)		5.88		(41.20	) (e)		588		1.84	(f)		1.40	(f)		1.40	(f)		0.43	(f)		—
Y(n)		10.00		0.01			—		(4.12	)		(4.11	)		—			—		—		—			(4.11	)		5.89		(41.10	) (e)		5,886		1.74	(f)		1.30	(f)		1.30	(f)		0.52	(f)		—

(a)	Information presented relates to a share outstanding throughout the indicated period.
(b)	Assumes initial investment at net asset value at the beginning of each period, reinvestment of all distributions, the complete redemption of the investment at net asset value at the end of each period and no sales charge. Total return would be reduced if sales charges were taken into account.
(c)	Ratios do not include fees paid indirectly (See Expenses in the accompanying Notes to Financial Statements).
(d)	Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between the classes of shares issued.
(e)	Not annualized.
(f)	Annualized.
(g)	Commenced operations on June 30, 2008.
(h)	Commenced operations on June 30, 2008.
(i)	Commenced operations on June 30, 2008.
(j)	Commenced operations on June 30, 2008.
(k)	Commenced operations on June 30, 2008.
(l)	Commenced operations on June 30, 2008.
(m)	Commenced operations on June 30, 2008.
(n)	Commenced operations on June 30, 2008.

26

The Hartford Diversified International Fund

Directors and Officers (Unaudited)

The Board of Directors appoints officers who are responsible for the day-to-day operations of the Fund and who execute policies formulated by the Directors. Each director serves until his or her death, resignation, or retirement or until the next annual meeting of shareholders is held or until his or her successor is elected and qualifies.

Directors and officers who are employed by or who have a financial interest in The Hartford are considered “interested” persons of the Fund pursuant to the Investment Company Act of 1940, as amended. Each officer and three of the Fund’s directors, as noted in the chart below, are “interested” persons of the Fund. Each director serves as a director for The Hartford Mutual Funds, Inc., The Hartford Mutual Funds II, Inc., The Hartford Income Shares Fund, Inc., Hartford Series Fund, Inc., and Hartford HLS Series Fund II, Inc., which collectively consist of 100 funds. Correspondence may be sent to directors and officers c/o Hartford Mutual Funds, P.O. Box 2999, Hartford, Connecticut 06104-2999, except that correspondence to Ms. Fagely may be sent to 500 Bielenberg Drive, Woodbury, Minnesota 55125.

The table below sets forth, for each director and officer, his or her name, year of birth, current position with the Fund and date first elected or appointed to The Hartford Mutual Funds, Inc. (“MF”) and The Hartford Mutual Funds II, Inc. (“MF2”), principal occupation, and, for directors, other directorships held. The Fund’s statement of additional information contains further information on the directors and is available free of charge by calling 1-888-843-7824 or writing to Hartford Mutual Funds, P.O. Box 64387, St. Paul, MN 55164-0387.

Information on the aggregate remuneration paid to the directors of the Fund can be found in the Statement of Operations herein. The Fund pays a portion of the Chief Compliance Officer’s compensation, but does not pay salaries or compensation to any of its officers or directors who are employed by The Hartford.

Non-Interested Directors

Lynn S. Birdsong (1946) Director since 2003, Co-Chairman of the Investment Committee

Mr. Birdsong is a private investor. Since 1981, Mr. Birdsong has been a partner in Birdsong Company, an advertising specialty firm. Since 2003, Mr. Birdsong has been an independent director of The Japan Fund. From 2003 to March 2005, Mr. Birdsong was an independent director of the Atlantic Whitehall Funds. From 1979 to 2002, Mr. Birdsong was a managing director of Zurich Scudder Investments, an investment management firm. During his employment with Scudder, Mr. Birdsong was an interested director of The Japan Fund.

Robert M. Gavin, Jr. (1940) Director since 2002 (MF) and 1986 (MF2), Chairman of the Board since 2004

Dr. Gavin is an educational consultant. Prior to September 1, 2001, he was President of Cranbrook Education Community and prior to July 1996, he was President of Macalester College, St. Paul, Minnesota.

Duane E. Hill (1945) Director since 2001 (MF) and 2002 (MF2), Chairman of the Nominating Committee

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

Sandra S. Jaffee (1941) Director since 2005

Ms. Jaffee is Chairman and Chief Executive Officer of Fortent (formerly Searchspace Group), a leading provider of compliance/regulatory technology to financial institutions. Ms. Jaffee served as an Entrepreneur in Residence with Warburg Pincus, a private equity firm, from August 2004 to August 2005. From September 1995 to July 2004, Ms. Jaffee served as Executive Vice President at Citigroup, where she was President and Chief Executive Officer of Citibank’s Global Securities Services (1995-2003).

William P. Johnston (1944) Director since 2005, Chairman of the Compliance Committee

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

27

The Hartford Diversified International Fund

Directors and Officers (Unaudited)—(continued)

Phillip O. Peterson (1944) Director since 2002 (MF) and 2000 (MF2), Chairman of the Audit Committee

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

Lemma W. Senbet (1946) Director since 2005

Dr. Senbet is the William E. Mayer Chair Professor of Finance at the University of Maryland, Robert H. Smith School of Business. He was chair of the Finance Department during 1998-2006. Previously he was an endowed professor of finance at the University of Wisconsin-Madison. Also, he was director of the Fortis Funds from March 2000-July 2002. Dr. Senbet served the finance profession in various capacities, including as director of the American Finance Association and President of the Western Finance Association. In 2006, Dr. Senbet was inducted Fellow of Financial Management Association International for his career-long distinguished scholarship and professional service.

Interested Directors and Officers

Thomas M. Marra* (1958) Director since 2002

Mr. Marra has served as President and Chief Operating Officer of The Hartford Financial Services Group, Inc. (“The Hartford”) since 2007. Mr. Marra currently serves as Director of Hartford Life, Inc. (“HL, Inc.”). Mr. Marra served as Chief Operating Officer of Hartford Life Insurance Company, Inc. (“Hartford Life”) (2000-2008), as President of Hartford Life (2002-2008) and as Director of Hartford Life’s Investment Products Division from 1998 to 2000.

*   On February 24, 2009, The Hartford and Mr. Marra determined to enter into a mutually agreed separation whereby Mr. Marra will retire, and his role as an executive officer and employee of The Hartford will terminate, effective July 3, 2009. Mr. Marra will resign his position as a Director of the Fund effective June 25, 2009.

Lowndes A. Smith (1939) Director since 2002, Co-Chairman of the Investment Committee

Mr. Smith served as Vice Chairman of The Hartford from February 1997 to January 2002, as President and Chief Executive Officer of Hartford Life, Inc. from February 1997 to January 2002, and as President and Chief Operating Officer of The Hartford Life Insurance Companies from January 1989 to January 2002. Mr. Smith serves as a Director of White Mountains Insurance Group, Ltd., One Beacon Insurance, Symetra Financial and as a Managing Director of Whittington Gray Associates.

John C. Walters* (1962) Director since 2008

Mr. Walters currently serves as Chief Executive Officer, President and Director of HL, Inc. Mr. Walters previously served as President of the U.S. Wealth Management Division of Hartford Life, Inc., as Co-Chief Operating Officer of Hartford Life Insurance Company (2007-2008) and as Executive Vice President and Director of its Investment Products Division (2000-2008). Mr. Walters also serves as Chairman of the Board, Chief Executive Officer, President and Director of Hartford Life Insurance Company and as Executive Vice President of The Hartford. In addition, Mr. Walters is Manager of HL Investment Advisors, LLC (“HL Advisors”).

*   Mr. Walters previously served as President and Chief Executive Officer of the Fund (2007 — 2009).

Other Officers

Robert M. Arena, Jr. (1968) President and Chief Executive Officer since 2009 (served as Vice President of the Fund (2006 — 2009))

Mr. Arena serves as Executive Vice President of Hartford Life Insurance Company, (“Hartford Life”). Additionally, Mr. Arena is Director and Senior Vice President of Hartford Administrative Services Company, (“HASCO”), Manager, Chief Executive Officer and President of Hartford Investment Financial Services, LLC (“HIFSCO”) and HL Advisors. Prior to joining The Hartford in 2004, he was Senior Vice President in charge of Product Management for American Skandia/Prudential in the individual annuities division. Mr. Arena joined American Skandia in 1996.

Tamara L. Fagely (1958) Vice President, Treasurer and Controller since 2002 (MF) 1993 (MF2)

Ms. Fagely has been a Vice President of HASCO since 1998 and Chief Financial Officer since 2006. Currently Ms. Fagely is a Vice President of Hartford Life. She served as Assistant Vice President of Hartford Life from December 2001 through March 2005. In addition, Ms. Fagely is Controller and Chief Financial Officer of HIFSCO.

Brian Ferrell (1962) AML Compliance Officer since 2008

Mr. Ferrell has served as Assistant Vice President and AML Compliance Officer for The Hartford since 2006 and as AML Compliance Officer for HASCO and Hartford Investor Services Company, LLC (“HISC”) since 2008. Prior to joining The Hartford in 2006, Mr. Ferrell held various positions at the U.S. Department of the Treasury, (the “Treasury”), from 2001 to 2006 where he served as Chief Counsel for the Treasury’s Financial Crimes Enforcement Network, (“FinCEN”) from 2005 — 2006.

28

Thomas D. Jones, III (1965) Vice President and Chief Compliance Officer since 2006

Mr. Jones serves as Chief Compliance Officer for the Hartford Mutual Funds and Vice President and Director of Securities Compliance for The Hartford. He is also Vice President of HIFSCO, HL Advisors, and Hartford Life Insurance Company. Mr. Jones joined The Hartford in 2006 from SEI Investments, where he served as Chief Compliance Officer for its mutual funds and investment advisers. Prior to joining SEI, Mr. Jones was First Vice President and Compliance Director for Merrill Lynch Investment Managers (Americas) (“MLIM”), where he worked from 1992-2004. At MLIM, Mr. Jones was responsible for the compliance oversight of various investment products, including mutual funds, wrap accounts, institutional accounts and alternative investments.

Edward P. Macdonald (1967) Vice President, Secretary and Chief Legal Officer since 2005

Mr. Macdonald serves as Assistant General Counsel and Assistant Vice President of The Hartford and Chief Legal Officer and Vice President of HIFSCO. He also serves as Vice President and Secretary of HASCO, Assistant Vice President of Hartford Life, and Chief Legal Officer, Secretary and Vice President of HL Advisors. Prior to joining The Hartford in 2005, Mr. Macdonald was Chief Counsel, Investment Management for Prudential Financial (formerly American Skandia Investment Services, Inc.). He joined Prudential in April 1999.

Vernon J. Meyer (1964) Vice President since 2006

Mr. Meyer serves as Senior Vice President of Hartford Life and as Director of its Investment Advisory Group in the Individual Markets Group segment. He also serves as Senior Vice President of HIFSCO and HL Advisors. Prior to joining The Hartford in 2004, Mr. Meyer was with MassMutual which he joined in 1987.

D. Keith Sloane (1960) Vice President since 2009

Mr. Sloane is a Senior Vice President of Hartford Life where he serves as Director of mutual fund product management for The Hartford’s mutual funds and 529 college savings businesses. Additionally, Mr. Sloane currently serves as Senior Vice President of HIFSCO, HL Advisors, and HASCO. Prior to joining The Hartford in 2007, Mr. Sloane was Director of product marketing and led the mutual fund business for Wachovia Securities (“Wachovia”) in their investment products group. Mr. Sloane joined Wachovia in 1995.

Jane Wolak (1961) Vice President since 2009

Ms. Wolak currently serves as Vice President of Hartford Life. Ms. Wolak joined Hartford Life as Vice President, Retail Product Services in May 2007. She is also Vice President of HASCO. Previously, Ms. Wolak was with Sun Life Financial where she held the position of Vice President, Service Center Operations from 2001 — 2007.

HOW TO OBTAIN A COPY OF THE FUND’S PROXY VOTING POLICIES AND VOTING RECORDS

A description of the policies and procedures that the Fund uses to determine how to vote proxies relating to portfolio securities and a record of how the Fund voted any proxies for the twelve-month period ended June 30, 2008 is available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov.

QUARTERLY PORTFOLIO HOLDINGS INFORMATION

The Fund files a complete schedule of portfolio holdings with the Commission for the first and third quarters of each fiscal year on Form N-Q. The Fund’s Forms are available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov. The Form N-Q may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330.

29

The Hartford Diversified International Fund

Expense Example (Unaudited)

Your Fund’s Expenses

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments and contingent deferred sales charges (CDSC) (2) ongoing costs including management fees; distribution fees; and other fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the period of October 31, 2008 through April 30, 2009.

Actual Expenses

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

Hypothetical Example for Comparison Purposes

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

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads) and CDSC. Therefore, the second line 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 are equal to the Fund’s annualized expense ratios multiplied by average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

	Actual return						Hypothetical (5% return before expenses)
					Expenses paid						Expenses paid					Days in
					during the period						during the period					the		Days
	Beginning		Ending Account		October 31, 2008		Beginning		Ending Account		October 31,		Annualized			current		in the
	Account Value		Value		through		Account Value		Value		2008 through		expense			1/2		full
	October 31, 2008		April 30, 2009		April 30, 2009		October 31, 2008		April 30, 2009		April 30, 2009		ratio			year		year
Class A	$	1,000.00	$	980.99	$	7.95	$	1,000.00	$	1,016.76	$	8.10		1.62	%		181		365
Class B	$	1,000.00	$	976.14	$	11.51	$	1,000.00	$	1,013.14	$	11.73		2.35			181		365
Class C	$	1,000.00	$	976.14	$	11.51	$	1,000.00	$	1,013.14	$	11.73		2.35			181		365
Class I	$	1,000.00	$	982.15	$	6.43	$	1,000.00	$	1,018.29	$	6.55		1.31			181		365
Class R3	$	1,000.00	$	978.26	$	9.31	$	1,000.00	$	1,015.37	$	9.49		1.90			181		365
Class R4	$	1,000.00	$	979.92	$	8.10	$	1,000.00	$	1,016.61	$	8.25		1.65			181		365
Class R5	$	1,000.00	$	981.62	$	6.87	$	1,000.00	$	1,017.85	$	7.00		1.40			181		365
Class Y	$	1,000.00	$	982.28	$	6.38	$	1,000.00	$	1,018.34	$	6.50		1.30			181		365

30

The Hartford Dividend and Growth Fund

Table of Contents

Manager Discussions (Unaudited)	2
Financial Statements
Schedule of Investments at April 30, 2009 (Unaudited)	4
Statement of Assets and Liabilities at April 30, 2009 (Unaudited)	7
Statement of Operations for the Six Month Period Ended April 30, 2009 (Unaudited)	8
Statement of Changes in Net Assets for the Six Month Period Ended April 30, 2009 (Unaudited) and the Year Ended October 31, 2008	9
Notes to Financial Statements (Unaudited)	10
Financial Highlights (Unaudited)	20
Directors and Officers (Unaudited)	21
How to Obtain a Copy of the Fund’s Proxy Voting Policies and Proxy Voting Records (Unaudited)	23
Quarterly Portfolio Holdings Information (Unaudited)	23
Expense Example (Unaudited)	24

The Hartford Dividend and Growth Fund
(subadvised by Wellington Management Company, LLP)

Performance Overview(1) 4/30/99 – 4/30/09
Growth of a $10,000 investment in Class A which includes Sales Charge

Russell 1000 Value Index measures the performance of those Russell 1000 Index companies with lower price-to-book ratios and lower forecasted growth values.

S&P 500 Index is a market capitalization weighted price index composed of 500 widely held common stocks.

You cannot invest directly in an index.

The value of shares will fluctuate so that, when redeemed, shares may be worth more or less than their original cost. The chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.

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

Investment objective – Seeks a high level of current income consistent with growth of capital.

Average Annual Total Returns(2,3,4) (as of 4/30/09)

	Inception		1			5			10			Since
	Date		Year			Year			Year			Inception
Dividend & Growth A#		7/22/96		-32.18	%		-0.02	%		1.08	%		5.74	%
Dividend & Growth A##		7/22/96		-35.91	%		-1.14	%		0.51	%		5.28	%
Dividend & Growth B#		7/22/96		-32.75	%		-0.88	%		NA	*		NA	*
Dividend & Growth B##		7/22/96		-36.07	%		-1.20	%		NA	*		NA	*
Dividend & Growth C#		7/22/96		-32.66	%		-0.74	%		0.37	%		5.01	%
Dividend & Growth C##		7/22/96		-33.33	%		-0.74	%		0.37	%		5.01	%
Dividend & Growth I#		7/22/96		-31.96	%		0.16	%		1.16	%		5.82	%
Dividend & Growth R3#		7/22/96		-32.39	%		0.03	%		1.39	%		6.09	%
Dividend & Growth R4#		7/22/96		-32.14	%		0.21	%		1.48	%		6.17	%
Dividend & Growth R5#		7/22/96		-31.96	%		0.35	%		1.55	%		6.22	%
Dividend & Growth Y#		7/22/96		-31.85	%		0.41	%		1.58	%		6.25	%

#	Without sales charge
##	With sales charge
NA	Not Applicable
*	10 year and inception returns are not applicable for Class B because after 8 years Class B converts to Class A.

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)	Growth of a $10,000 investment in Classes B, C, I, R3, R4, R5 and Y shares will vary from results seen above due to differences in the expenses charged to these share classes.
(2)	Class C shares commenced operations on 7/31/98. Performance prior to 7/31/98 reflects Class B performance less Class C sales charges where applicable. Class I shares commenced operations on 8/31/06. Performance prior to 8/31/06 reflects Class A performance. Class R3, R4 and R5 shares commenced operations on 12/22/06. Performance prior to 12/22/06 reflects Class Y performance.
(3)	The initial investment in Class A shares reflects the maximum sales charge and Classes B and C reflect CDSC.
(4)	Total returns presented above were calculated using the Fund’s net asset value available to shareholders for sale or redemption of Fund shares on April 30, 2009, which excludes investment transactions as of this date.

Portfolio Manager
Edward P. Bousa, CFA
Senior Vice President, Partner

How did the Fund perform?

The Class A shares of The Hartford Dividend and Growth Fund returned -6.38%, before sales charge, for the six month period ended April 30, 2009, outperforming its benchmark, the S&P 500 Index, which returned -8.53% for the same period. The Fund also outperformed the -8.79% return of the average fund in Lipper Equity Income Funds peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

The six-month period ended April 30, 2009 was one of the most volatile in history, reflecting investors’ fluctuating reactions to economic data releases and the U.S. government’s involvement to help mitigate the financial crisis. The broad U.S. equity market registered its sixth straight quarterly decline in the first quarter of 2009, but ended the period with a sharp rebound from mid-March lows.

2

Overall equity market performance was weak for the period across all market capitalizations: large cap equities (-8.5%), mid caps (-0.2%), and small caps (-8.4%) declined as represented by the S&P 500, S&P 400 MidCap, and Russell 2000 indices respectively. During the six-month period seven of ten sectors within the S&P 500 Index posted negative returns, led by Financials (-29%), Industrials (-13%), and Energy (-10%). Information Technology (6%), Consumer Discretionary (4%), and Telecommunication Services (3%) were the only sectors that posted positive returns.

The Fund’s outperformance relative (i.e. performance of the Fund as measured against the benchmark) to the S&P 500 Index was due to favorable stock selection, particularly in Health Care, Energy, and Financials, which more than offset weak stock selection in the Consumer Discretionary and Information Technology sectors. Sector allocation detracted from benchmark-relative results. Specifically, our underweight (i.e. the Fund’s sector position was less than the benchmark position) allocations to strong-performing Information Technology and Consumer Discretionary more than offset positive contributions from overweight (i.e. the Fund’s sector position was greater than the benchmark position) to Telecommunication Services. The Fund benefited from a modest cash position in a declining equity market.

Detractors from benchmark-relative performance included Bank of America (Financials), Capital One (Financials), and Apple (Information Technology). Shares of diversified banking company Bank of America fell significantly on weakness in their consumer-oriented loan portfolio and due to difficulties surrounding their acquisition of Merrill Lynch. We exited our position during the period. Capital One, a diversified banking company with credit card, automobile, and commercial lending operations, announced disappointing quarterly results and forecast higher credit losses in 2009. The market for Financials has been difficult, especially for credit card stocks, which faced heightened regulatory scrutiny over rates, fees, and credit lines. We exited our position during the period. Consumer electronics company Apple performed well during the period despite slowing consumer trends. The Fund did not hold shares in the company which hurt relative performance, as did not holding shares in Cisco and Google. General Electric (Industrials), Medtronic (Health Care), and Abbott Laboratories (Health Care) were top detractors from absolute (i.e. total return) performance.

The Fund’s top contributors to benchmark-relative performance during the period were Schering-Plough (Health Care), Citigroup (Financials), and Wells Fargo (Financials). Pharmaceutical company Schering-Plough benefited from a takeover offer by Merck, driving the share price higher. Our underweight position in benchmark component Citigroup contributed to relative performance, as shares of this global financial services firm fell as fears mounted that the company would require additional capital from the government. Although we briefly owned Citigroup, we exited the position during the period. As shares of U.S. bank Wells Fargo declined throughout late 2008 and early 2009, we were able to purchase the stock at attractive prices. During the period Wells Fargo was our largest purchase and also a significant relative contributor to the Fund’s performance. IBM (Information Technology), Wyeth (Health Care), Anadarko Pete (Energy), and Corning (Information Technology) were top contributors to absolute performance.

What is the outlook?

Recent market and macroeconomic news have unfortunately not yet wiped the slate of market worries clean. While investors have stopped worrying—for the moment—about the solvency of the banking system and the freezing of global credit, that concern has shifted to worry over government involvement in private enterprise, and the troubling trajectories of unemployment and corporate profits. Our investment discipline is focused on investing in areas of strong demand and avoiding areas of oversupply. At the end of the period Energy remained our largest overweight in the Fund. The sector remains attractive based upon restricted supply at lower prices and a possible global economic rebound. Financials, still a challenging area, started to stabilize during the quarter. We increased our exposure during the period and have focused on companies that appear to be winners. We maintained our underweight to Consumer Staples, where valuations have become stretched as investors have sought defensive stocks in a down market.

At the end of the period, our largest overweights were to the Energy, Financials, and Industrials sectors, while we remain underweight the Information Technology, Consumer Discretionary, and Consumer Staples sectors.

Diversification by Industry
as of April 30, 2009

	Percentage of
Industry	Net Assets
Automobiles & Components		0.4	%
Banks		4.0
Capital Goods		8.9
Commercial & Professional Services		1.4
Diversified Financials		5.7
Energy		17.2
Food & Staples Retailing		2.0
Food, Beverage & Tobacco		4.5
Health Care Equipment & Services		2.3
Household & Personal Products		1.9
Insurance		5.4
Materials		3.5
Media		3.0
Pharmaceuticals, Biotechnology & Life Sciences		11.7
Real Estate		0.2
Retailing		2.0
Semiconductors & Semiconductor Equipment		1.6
Software & Services		3.2
Technology Hardware & Equipment		5.5
Telecommunication Services		5.4
Transportation		2.0
Utilities		5.7
Short-Term Investments		2.9
Other Assets and Liabilities		(0.4	)
Total		100.0	%

3

The Hartford Dividend and Growth Fund

Schedule of Investments

April 30, 2009 (Unaudited)

(000’s Omitted)

Shares or Principal Amount			Market Value ╪
COMMON STOCK — 97.5%
		Automobiles & Components — 0.4%
	452	Honda Motor Co., Ltd. ADR	$	13,132
		Banks — 4.0%
	521	Comerica, Inc.		10,930
	259	M&T Bank Corp.		13,590
	632	PNC Financial Services Group, Inc.		25,078
	767	US Bancorp.		13,977
	949	Washington Mutual, Inc. Private Placement ⌂†		94
	3,091	Wells Fargo & Co.		61,843
				125,512
		Capital Goods — 8.9%
	313	Caterpillar, Inc.		11,133
	1,201	Deere & Co.		49,557
	410	Eaton Corp.		17,945
	1,905	General Electric Co.		24,094
	794	Honeywell International, Inc.		24,775
	659	Illinois Tool Works, Inc.		21,618
	524	Lockheed Martin Corp.		41,173
	620	Parker-Hannifin Corp.		28,122
	887	Pentair, Inc.		23,635
	479	Siemens AG ADR		32,033
	449	Spirit Aerosystems Holdings, Inc. •		5,730
				279,815
		Commercial & Professional Services — 1.4%
	810	Pitney Bowes, Inc.		19,865
	950	Waste Management, Inc.		25,331
				45,196
		Diversified Financials — 5.7%
	778	Ameriprise Financial, Inc.		20,500
	148	Goldman Sachs Group, Inc.		19,031
	1,695	JP Morgan Chase & Co.		55,922
	1,022	Morgan Stanley		24,157
	942	State Street Corp.		32,162
	2,020	UBS AG ADR •		27,547
				179,319
		Energy — 17.2%
	1,426	Anadarko Petroleum Corp.		61,412
	794	BP plc ADR		33,700
	1,669	Chevron Corp.		110,341
	494	ConocoPhillips Holding Co.		20,242
	993	EnCana Corp. ADR		45,406
	1,081	Exxon Mobil Corp.		72,072
	1,627	Marathon Oil Corp.		48,331
	652	Schlumberger Ltd.		31,961
	1,466	Total S.A. ADR		72,904
	1,349	XTO Energy, Inc.		46,743
				543,112
		Food & Staples Retailing — 2.0%
	625	Walgreen Co.		19,644
	880	Wal-Mart Stores, Inc.		44,367
				64,011
		Food, Beverage & Tobacco — 4.5%
	1,255	Nestle S.A. ADR		40,718
	737	PepsiCo, Inc.		36,668
	1,008	Philip Morris International, Inc.		36,504
	1,105	SABMiller plc ADR		18,422
	524	Unilever N.V. NY Shares ADR		10,368
				142,680
		Health Care Equipment & Services — 2.3%
	1,394	Medtronic, Inc.		44,611
	1,181	UnitedHealth Group, Inc.		27,784
				72,395
		Household & Personal Products — 1.9%
	573	Kimberly-Clark Corp.		28,162
	668	Procter & Gamble Co.		33,003
				61,165
		Insurance — 5.4%
	935	ACE Ltd.		43,286
	881	Aflac, Inc.		25,441
	750	Marsh & McLennan Cos., Inc.		15,824
	1,600	Metlife, Inc.		47,612
	519	Prudential Financial, Inc.		14,982
	545	Travelers Cos., Inc.		22,405
				169,550
		Materials — 3.5%
	676	Agrium U.S., Inc.		29,069
	230	Air Products and Chemicals, Inc.		15,144
	726	Barrick Gold Corp.		21,112
	424	BHP Billiton Ltd. ADR		20,387
	2,119	International Paper Co.		26,832
				112,544
		Media — 3.0%
	1,400	Comcast Corp. Class A		21,637
	631	Comcast Corp. Special Class A		9,260
	610	McGraw-Hill Cos., Inc.		18,398
	1,035	Time Warner, Inc.		22,593
	1,053	Walt Disney Co.		23,054
				94,942
		Pharmaceuticals, Biotechnology & Life Sciences — 11.7%
	826	Abbott Laboratories		34,560
	996	AstraZeneca plc ADR		34,827
	1,823	Bristol-Myers Squibb Co.		35,003
	1,964	Eli Lilly & Co.		64,665
	1,731	Merck & Co., Inc.		41,955
	2,491	Pfizer, Inc.		33,282
	2,852	Schering-Plough Corp.		65,653
	368	Teva Pharmaceutical Industries Ltd. ADR		16,147
	1,030	Wyeth		43,685
				369,777
		Real Estate — 0.2%
	294	Kimco Realty Corp.		3,535
	26	Vornado Realty Trust		1,281
				4,816
		Retailing — 2.0%
	748	Gap, Inc.		11,627
	1,062	Limited Brands, Inc.		12,129
	1,974	Staples, Inc.		40,712
				64,468
		Semiconductors & Semiconductor Equipment — 1.6%
	1,247	Applied Materials, Inc.		15,226
	1,191	Maxim Integrated Products, Inc.		16,138
	1,097	Texas Instruments, Inc.		19,806
				51,170
		Software & Services — 3.2%
	1,204	Accenture Ltd. Class A		35,440
	794	Automatic Data Processing, Inc.		27,952
	1,882	Microsoft Corp.		38,129
				101,521

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

4

Shares or Principal Amount					Market Value ╪
COMMON STOCK — 97.5% — (continued)
		Technology Hardware & Equipment — 5.5%
	418	Avnet, Inc. •			$	9,157
	1,625	Corning, Inc .				23,763
	537	Hewlett-Packard Co.				19,336
	917	International Business Machines Corp.				94,602
	3,994	Xerox Corp.				24,403
						171,261
		Telecommunication Services — 5.4%
	5,276	AT&T, Inc.				135,171
	1,216	Verizon Communications, Inc.				36,901
						172,072
		Transportation — 2.0%
	500	FedEx Corp.				28,002
	2,136	Southwest Airlines Co.				14,906
	352	United Parcel Service, Inc. Class B				18,429
						61,337
		Utilities — 5.7%
	1,531	Dominion Resources, Inc.				46,169
	887	Exelon Corp.				40,907
	953	FPL Group, Inc.				51,267
	909	PG&E Corp.				33,753
	307	Veolia Environment ADR				8,379
						180,475
		Total common stock (cost $3,515,039)			$	3,080,270
WARRANTS — 0.0%
		Banks 0.0%
	119	Washington Mutual, Inc. Private Placement ⌂•†			$	—
		Total warrants (cost $–)			$	—
		Total long-term investments (cost $3,515,039)			$	3,080,270
SHORT-TERM INVESTMENTS — 2.9%
		Repurchase Agreements — 2.9%
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $21,910, collateralized by GNMA 4.50% — 6.50%, 2038 — 2039, value of $22,348)
$	21,910	0.18%, 04/30/2009			$	21,910
		BNP Paribas Securities Corp. TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $26,220, collateralized by FHLMC 4.50% — 6.50%, 2035 — 2039, FNMA 4.50% — 6.50%, 2034 - 2047, value of $26,745)
	26,220	0.17%, 04/30/2009				26,220
		Deutsche Bank Securities TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $36,637, collateralized by FHLMC 4.00% — 7.00%, 2021 — 2039, FNMA 6.00% — 7.00%, 2034 - 2038, GNMA 4.50% — 7.00%, 2024 — 2039, value of $37,369)
	36,637	0.17%, 04/30/2009				36,637
		UBS Securities, Inc. Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $123, collateralized by U.S. Treasury Bond 7.50%, 2024, value of $127)
	123	0.14%, 04/30/2009				123
		UBS Securities, Inc. TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $7,902, collateralized by FHLMC 8.00% — 15.00%, 2009 — 2021, FNMA 3.50% — 15.50%, 2012 - - 2039, value of $8,060)
	7,902	0.16%, 04/30/2009				7,902
						92,792
		Total short-term investments (cost $92,792)			$	92,792
		Total investments (cost $3,607,831)▲	100.4	%	$	3,173,062
		Other assets and liabilities	(0.4	)%		(13,016	)
		Total net assets	100.0	%	$	3,160,046

Note:	Percentage of investments as shown is the ratio of the total market value to total net assets. Market value of investments in foreign securities represents 13.42% of total net assets at April 30, 2009.
▲	At April 30, 2009, the cost of securities for federal income tax purposes was $3,628,583 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	154,936
Unrealized Depreciation		(610,457	)
Net Unrealized Depreciation	$	(455,521	)

†	The aggregate value of securities valued in good faith at fair value as determined under policies and procedures established by and under the supervision of the Fund’s Board of Directors at April 30, 2009, was $94, which represents 0.00% of total net assets.
•	Currently non-income producing.
⌂	The following securities are considered illiquid. Illiquid securities are often purchased in private placement transactions, are often not registered under the Securities Act of 1933 and may have contractual restrictions on resale. A security may also be considered illiquid if the security lacks a readily available market or if its valuation has not changed for a certain period of time.

Period	Shares/
Acquired	Par		Security	Cost Basis
04/2008		949	Washington Mutual, Inc. Private Placement	$	8,300

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

5

The Hartford Dividend and Growth Fund
Schedule of Investments — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

Period	Shares/
Acquired	Par		Security	Cost Basis
04/2008		119	Washington Mutual, Inc. Private Placement Warrants	$	—

The aggregate value of these securities at April 30, 2009 was $94 which represents 0.00% of total net assets.

╪ See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

FAS 157 Disclosure of Investment Valuation Hierarchy Levels

Assets:
Investment in securities — Level 1	$	3,080,176
Investment in securities — Level 2		92,792
Investment in securities — Level 3		94
Total	$	3,173,062

Following is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value:

Assets:
Securities:
Balance as of October 31, 2008	$	53
Change in unrealized appreciation u		41
Balance as of April 30, 2009	$	94

u     Change in unrealized gains or losses relating to assets still held at April 30, 2009 $ 41

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

6

The Hartford Dividend and Growth Fund

Statement of Assets and Liabilities

April 30, 2009 (Unaudited)

(000’s Omitted)

Assets:
Investments in securities, at fair value (cost $3,607,831)	$	3,173,062
Cash		1
Receivables:
Investment securities sold		115
Fund shares sold		6,747
Dividends and interest		6,465
Other assets		220
Total assets		3,186,610
Liabilities:
Payables:
Investment securities purchased		21,267
Fund shares redeemed		3,797
Investment management fees		325
Distribution fees		143
Accrued expenses		1,032
Total liabilities		26,564
Net assets	$	3,160,046
Summary of Net Assets:
Capital stock and paid-in-capital		4,088,055
Accumulated undistributed net investment income		5,626
Accumulated net realized loss on investments		(498,866	)
Unrealized depreciation of investments		(434,769	)
Net assets	$	3,160,046
Shares authorized		750,000
Par value	$	0.001
Class A: Net asset value per share/Maximum offering price per share	$	13.48/$14.26
Shares outstanding		148,364
Net assets	$	2,000,175
Class B: Net asset value per share	$	13.26
Shares outstanding	��	13,749
Net assets	$	182,327
Class C: Net asset value per share	$	13.23
Shares outstanding		14,577
Net assets	$	192,822
Class I: Net asset value per share	$	13.44
Shares outstanding		17,846
Net assets	$	239,932
Class R3: Net asset value per share	$	13.61
Shares outstanding		130
Net assets	$	1,763
Class R4: Net asset value per share	$	13.64
Shares outstanding		826
Net assets	$	11,273
Class R5: Net asset value per share	$	13.66
Shares outstanding		91
Net assets	$	1,248
Class Y: Net asset value per share	$	13.67
Shares outstanding		38,815
Net assets	$	530,506

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

7

The Hartford Dividend and Growth Fund

Statement of Operations

For the Six Month Period Ended April 30, 2009 (Unaudited)

(000’s Omitted)

Investment Income:
Dividends	$	52,922
Interest		106
Securities lending		29
Less: Foreign tax withheld		(626	)
Total investment income		52,431
Expenses:
Investment management fees		9,426
Transfer agent fees		3,191
Distribution fees
Class A		2,423
Class B		935
Class C		962
Class R3		3
Class R4		12
Custodian fees		5
Accounting services		238
Registration and filing fees		145
Board of Directors’ fees		30
Interest and dividend expense		—
Audit fees		42
Other expenses		627
Total expenses (before waivers and fees paid indirectly)		18,039
Expense waivers		(1	)
Transfer agent fee waivers		(160	)
Commission recapture		(18	)
Custodian fee offset		—
Total waivers and fees paid indirectly		(179	)
Total expenses, net		17,860
Net investment income		34,571
Net Realized Loss on Investments:
Net realized loss on investments in securities		(387,968	)
Net Realized Loss on Investments		(387,968	)
Net Changes in Unrealized Appreciation of Investments:
Net unrealized appreciation of investments		135,388
Net Changes in Unrealized Appreciation of Investments		135,388
Net Loss on Investments		(252,580	)
Net Decrease in Net Assets Resulting from Operations	$	(218,009	)

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

8

The Hartford Dividend and Growth Fund

Statement of Changes in Net Assets

(000’s Omitted)

	For the Six-Month
	Period Ended			For the
	April 30, 2009			Year Ended
	(Unaudited)			October 31, 2008
Operations:
Net investment income	$	34,571		$	61,853
Net realized loss on investments		(387,968	)		(108,309	)
Net unrealized appreciation (depreciation) of investments		135,388			(1,479,942	)
Net decrease in net assets resulting from operations		(218,009	)		(1,526,398	)
Distributions to Shareholders:
From net investment income
Class A		(22,054	)		(46,956	)
Class B		(1,324	)		(2,208	)
Class C		(1,486	)		(2,645	)
Class I		(2,509	)		(858	)
Class R3		(10	)		(4	)
Class R4		(114	)		(101	)
Class R5		(10	)		(6	)
Class Y		(6,269	)		(8,699	)
From net realized gain on investments
Class A		—			(173,549	)
Class B		—			(21,507	)
Class C		—			(19,864	)
Class I		—			(129	)
Class R3		—			(9	)
Class R4		—			(106	)
Class R5		—			(10	)
Class Y		—			(14,212	)
Total distributions		(33,776	)		(290,863	)
Capital Share Transactions:
Class A		(39,966	)		270,480
Class B		(22,217	)		(31,123	)
Class C		(10,988	)		(6,590	)
Class I		81,610			202,564
Class R3		1,329			436
Class R4		3,376			9,375
Class R5		994			258
Class Y		67,434			444,967
Net increase from capital share transactions		81,572			890,367
Net decrease in net assets		(170,213	)		(926,894	)
Net Assets:
Beginning of period		3,330,259			4,257,153
End of period	$	3,160,046		$	3,330,259
Accumulated undistributed net investment income	$	5,626		$	4,831

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

9

The Hartford Dividend and Growth Fund

Notes to Financial Statements

April 30, 2009 (Unaudited)

(000’s Omitted)

1. Organization:

The Hartford Mutual Funds, Inc. (“Company”) is an open-end management investment company comprised of fifty-two portfolios. Financial statements for The Hartford Dividend and Growth Fund (the “Fund”), a series of the Company, are included in this report.

The Company is organized under the laws of the State of Maryland and is registered with the Securities and Exchange Commission (“SEC”) under the Investment Company Act of 1940, as amended (“1940 Act”). The Fund is a diversified open-end management investment company.

Class A shares are sold with a front-end sales charge of up to 5.50%. Class B shares are sold with a contingent deferred sales charge which is assessed on the lesser of the per share net asset value (“NAV”) of the shares at the time of redemption or the original purchase price, and declines from up to 5.00% to zero depending on the period of time the shares are held. Class C shares are sold with a contingent deferred sales charge of up to 1.00% on shares redeemed within twelve months of purchase. Class I shares are sold without sales charges to certain eligible investors through advisory fee-based wrap programs. Classes R3, R4, R5 shares, which are offered to employer-sponsored retirement plans, and Class Y shares, which are sold to certain eligible institutional investors, are sold without a sales charge. All classes of shares have identical voting, redemption, dividend, liquidation and other rights and the same terms and conditions, with the exceptions that each class may have different expenses, which may affect performance, and except that Class B shares automatically convert to Class A shares after 8 years.

Effective at the close of business on September 30, 2009 (the “Close Date”), no new or additional investments will be allowed in Class B shares of The Hartford Mutual Funds (including investments through any systematic investment plan). After the Close Date, existing shareholders of Class B shares may continue to hold their Class B shares, exchange their Class B shares for Class B shares of another Hartford Mutual Fund (as permitted by existing exchange privileges), and redeem their Class B shares as described in the Fund’s prospectus. Reinstatement privileges with respect to Class B shares will continue under the current policy. If you have chosen to reinvest capital gains and dividends, any such capital gains or dividends on Class B shares will continue to be reinvested in Class B shares of the Fund. For Class B shares outstanding as of the Close Date, all Class B share attributes, including the 12b-1 fee, contingent deferred sales charge schedule, and conversion to Class A shares remain unchanged.

2. Significant Accounting Policies:

The following is a summary of significant accounting policies of the Fund, which are in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”).

a)	Security Transactions and Investment Income — Security transactions are recorded on the trade date (the date the order to buy or sell is executed). Security gains and losses are determined on the basis of identified cost.
	Dividend income is accrued as of the ex-dividend date, except that certain dividends for foreign securities where the ex-dividend date may have passed are recorded as soon as the Fund is informed of the dividend in the exercise of reasonable diligence. Interest income, including amortization of premium and accretion of discounts, is accrued on a daily basis.
b)	Security Valuation — The Fund generally uses market prices in valuing portfolio securities. If market prices are not readily available or are deemed unreliable, the Fund will use the fair value of the security as determined in good faith under policies and procedures established by and under the supervision of the Fund’s Board of Directors. Market prices may be deemed unreliable, for example, if a security is thinly traded or if an event has occurred after the close of the security’s primary markets, but before the close of the New York Stock Exchange (the “Exchange”) (normally 4:00 p.m. Eastern Time, referred to as the “Valuation Time”) that is expected to affect the value of the portfolio security. The circumstances in which the Fund may use fair value pricing include, among others: (i) the occurrence of events that are significant to a particular issuer, such as mergers, restructuring or defaults; (ii) the occurrence of events that are

10

	significant to an entire market, such as natural disasters in a particular region or governmental actions; (iii) trading restrictions on securities; (iv) thinly traded securities and (v) market events such as trading halts and early market closings. In addition, with respect to the valuation of stocks primarily traded on foreign markets, the Fund uses a fair value pricing service approved by the Fund’s Board of Directors, which employs quantitative models that evaluate changes in the value of foreign market proxies (e.g., futures contracts, ADR’s, exchange traded funds (“ETF’s”)) after the close of the foreign markets but before the close of the Exchange. Securities that are primarily traded on foreign markets may trade on days that are not business days of the Fund. The value of the foreign securities in which the Fund invests may change on days when a shareholder will not be able to purchase or redeem shares of the Fund. Fair value pricing is subjective in nature and the use of fair value pricing by the Fund may cause the NAV of its shares to differ significantly from the NAV that would have been calculated using market prices at the close of the exchange on which a portfolio security is primarily traded but before the close of the Exchange. There can be no assurance that the Fund could obtain the fair value assigned to a security if the Fund were to sell the security at approximately the time at which the Fund determines its NAV.
	Securities of foreign issuers and non-dollar securities are translated from the local currency into U.S. dollars using prevailing exchange rates.
	Financial instruments for which prices are not available from an independent pricing service are valued using market quotations obtained from one or more dealers that make markets in securities in accordance with procedures established by the Fund’s Board of Directors.
	Other derivative or contractual type instruments shall be valued using market prices if such instruments trade on an exchange or market. If such instruments do not trade on an exchange or market, such instruments shall be valued at a price at which the counterparty to such contract would repurchase the instrument. In the event that the counterparty cannot provide a price, such valuation may be determined in accordance with procedures established by the Fund’s Board of Directors.
c)	Securities Lending — The Fund may lend its securities to certain qualified brokers who pay the Fund negotiated lender fees. The loans are fully collateralized at all times with cash and/or U.S. Government Securities and/or repurchase agreements. The cash collateral is then invested in short-term money market instruments. The repurchase agreements are fully collateralized by U.S. Government Securities. The adequacy of the collateral for securities on loan is monitored on a daily basis. For instances where the market value of collateral falls below the market value of the securities out on loan, such collateral is supplemented on the following business day.
	While securities are on loan, the Fund is subject to the following risks: 1) that the borrower may default on the loan and that the collateral could be inadequate in the event the borrower defaults, 2) that the earnings on the collateral invested may not be sufficient to pay fees incurred in connection with the loan, 3) that the principal value of the collateral invested may decline and may not be sufficient to pay back the borrower for the amount of the collateral posted, 4) that the borrower may use the loaned securities to cover a short sale which may place downward pressure on the market prices of the loaned securities, 5) that return of loaned securities could be delayed and could interfere with portfolio management decisions and 6) that any efforts to recall the securities for purposes of voting a proxy may not be effective. The Fund had no securities out on loan as of April 30, 2009.
d)	Joint Trading Account — Pursuant to an exemptive order issued by the SEC, the Fund may transfer uninvested cash balances into a joint trading account managed by Wellington Management Company, LLP (“Wellington”). These balances may be invested in one or more repurchase agreements and/or short-term money market instruments.
e)	Repurchase Agreements — A repurchase agreement is an agreement by which the seller of a security agrees to repurchase the security sold at a mutually agreed upon time and price. At the time the Fund enters into a repurchase agreement, the value of the underlying collateral security(ies), including accrued interest, will be equal to or exceed the value of the repurchase agreement. Securities that serve to collateralize the repurchase agreement are held by the Fund’s custodian in book entry or physical form in the custodial account of the Fund or in a third party custodial account. Repurchase

11

The Hartford Dividend and Growth Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

	agreements are valued at cost plus accrued interest. The Fund, as shown on the Schedule of Investments, had outstanding repurchase agreements as of April 30, 2009.
f)	Fund Share Valuation and Dividend Distributions to Shareholders — Orders for the Fund’s shares are executed in accordance with the investment instructions of the shareholders. The NAV of the Fund’s shares is determined as of the close of each business day of the Exchange. The NAV is determined separately for each class of the Fund by dividing the Fund’s net assets attributable to that class by the number of shares of the class outstanding. Orders for the purchase of the Fund’s shares prior to the close of the Exchange on any day on which the Exchange is open for business are priced at the NAV determined as of the close of the Exchange. Orders after the close of the Exchange, or on a day on which the Exchange and/or the Fund is not open for business, are priced at the next determined NAV.
	The Fund intends to distribute substantially all of its net investment income and net realized capital gains to shareholders no less frequently than once a year. Normally, dividends from net investment income are declared and paid quarterly. Dividends are paid on shares beginning on the business day after the day when the funds used to purchase the shares are collected by the transfer agent for the Fund. Unless shareholders specify otherwise, all dividends will be automatically reinvested in additional full or fractional shares of the Fund.
	Distributions from net investment income, realized capital gains and capital are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP with respect to character and timing. These differences include but are not limited to foreign currency gains and losses, losses deferred due to wash sales adjustments, adjustments related to Passive Foreign Investment Companies and certain derivatives, and excise tax regulations. Permanent book and federal income tax basis differences relating to shareholder distributions will result in reclassifications to certain of the Fund’s capital accounts (see Federal Income Taxes: Reclassification of Capital Accounts footnote).
g)	Illiquid and Restricted Securities — The Fund is permitted to invest up to 15% of its net assets in illiquid securities. “Illiquid Securities” are those that may not be sold or disposed of in the ordinary course of business within seven days, at approximately the price used to determine the Fund’s NAV. The Fund may not be able to sell illiquid securities or other investments when its sub-adviser considers it desirable to do so or may have to sell such securities or investments at a price that is lower than the price that could be obtained if the securities or investments were more liquid. A sale of illiquid securities or other investments may require more time and may result in higher dealer discounts and other selling expenses than does the sale of those that are liquid. Illiquid securities and investments also may be more difficult to value, due to the unavailability of reliable market quotations for such securities or investments, and investment in them may have an adverse impact on the Fund’s NAV. The Fund may also purchase certain restricted securities, commonly known as Rule 144A securities, that can be resold to institutions and which may be determined to be liquid pursuant to policies and guidelines established by the Fund’s Board of Directors. The Fund, as shown in the Schedule of Investments, had illiquid or restricted securities as of April 30, 2009.
h)	Use of Estimates — The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and the reported amounts of income and expenses during the period. Operating results in the future could vary from the amounts derived from management’s estimates.
i)	Financial Accounting Standards Board Financial Accounting Standards No. 157 — Effective November 1, 2008, the Fund adopted Financial Accounting Standards Board (“FASB”) Statement of Financial Accounting Standards No. 157, “Fair Value Measurements” (“FAS 157”). This standard clarifies the definition of fair value for financial reporting, establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements. Fair value is defined under FAS 157 as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Under FAS 157, a fair value measurement should reflect all of the assumptions that market participants would use in pricing the asset or liability, including assumptions

12

about the risk inherent in a particular valuation technique, the effect of a restriction on the sale or use of an asset, and the risk of nonperformance.

Various inputs are used in determining the value of the Fund’s investment. These inputs are summarized, per FAS 157, into three broad hierarchy levels. This hierarchy is based on whether the valuation inputs are observable or unobservable. These levels are:

• Level 1 – Quoted prices in active markets for identical securities. Level 1 includes exchange-traded instruments such as domestic equities, some foreign equities, options, futures, mutual funds, ETF’s, and rights and warrants.

• Level 2 – Observable inputs other than Level 1 prices, such as quoted prices for similar securities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the security. Level 2 includes debt securities that are traded less frequently than exchange-traded instruments and that are valued using third party pricing services and foreign equities, whose value is determined using a multi-factor regression model with inputs that are observable in the market; and money market instruments, which are carried at amortized cost.

• Level 3 – Significant unobservable inputs that are supported by little or no market activity. Level 3 includes financial instruments whose values are determined using broker quotes and require significant management judgment or estimation. This category includes broker quoted securities, long dated OTC options and securities where trading has been halted or there are certain restrictions on trading. While these securities are priced using unobservable inputs, the valuation of these securities reflects the best available data and management believes the prices are a good representation of exit price.

	Individual securities within any of the above mentioned asset classes may be assigned a different hierarchical level than those presented above, as individual circumstances dictate.
	FAS 157 also requires that a roll forward reconciliation be shown for all Level 3 securities from the beginning of the reporting period to the end of the reporting period. Part of this reconciliation includes transfers in and/or out of Level 3. For purposes of this reconciliation, transfers in are shown at the end of period fair value and transfers out are shown at the beginning of period fair value.
	Refer to the valuation hierarchy levels summary and the Level 3 roll forward reconciliation found following the Schedule of Investments.
	FASB Staff Position No. 157-4 — In April 2009, FASB released FASB Staff Position No. 157-4, “Determining Fair Value When the Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly” (“FSP FAS 157-4”). FSP FAS 157-4 provides additional guidance on determining whether a market for a financial asset is not active and a transaction is not distressed when measuring fair value under FAS 157. The FSP also requires additional disclosure detail on debt and equity securities by major investment categories. FSP FAS 157-4 is effective for interim and annual periods ending after June 15, 2009. At this time, management is evaluating the implications of FSP FAS 157-4 and does not believe it will impact valuation but will require additional disclosure. This additional disclosure has not yet been implemented.
j)	Financial Accounting Standards Board Financial Accounting Standards No. 161 — In March 2008, the FASB released Statement of Financial Accounting Standards No. 161, “Disclosures about Derivative Instruments and Hedging Activities” (“FAS 161”). FAS 161 requires companies to disclose information detailing the objectives and strategies for using derivative instruments, the level of derivative activity entered into by the company and any credit risk-related contingent features of the agreements. The application of FAS 161 is required for fiscal years and interim periods beginning after November 15, 2008. At this time, management is evaluating the implications of FAS 161 and has not yet implemented the new disclosure standard.
k)	Indemnifications: Under the Company’s organizational documents, the Company shall indemnify its officers and directors to the full extent required or permitted under Maryland General Corporation Law and the federal securities law.

13

The Hartford Dividend and Growth Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

In addition, the Company, on behalf of the Fund, may enter into contracts that contain a variety of indemnifications. The Company’s maximum exposure under these arrangements is unknown. However, the Company has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote.

3. Federal Income Taxes:

a)

Federal Income Taxes — For federal income tax purposes, the Fund intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code (“IRC”) by distributing substantially all of its taxable net investment income and net realized capital gains to its shareholders and otherwise complying with the requirements of regulated investment companies. The Fund has distributed substantially all of its income and capital gains in prior years and the Fund intends to distribute substantially all of its income and gains during the calendar year ending December 31, 2009. Accordingly, no provision for federal income or excise taxes has been made in the accompanying financial statements. Distributions from short-term capital gains are treated as ordinary income distributions for federal income tax purposes.

b)

The tax character of distributions paid by the Fund for the periods indicated is as follows (as adjusted for dividends payable):

	For the Year Ended		For the Year Ended
	October 31, 2008		October 31, 2007
Ordinary Income	$	81,893	$	57,157
Long-Term Capital Gains *		208,970		201,659

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

As of October 31, 2008, the Fund’s components of distributable earnings (deficit) on a tax basis were as follows:

	Amount
Undistributed Ordinary Income	$	4,831
Accumulated Capital Losses*	$	(90,146	)
Unrealized Depreciation†	$	(590,909	)
Total Accumulated Deficit	$	(676,224	)

*	The Fund has capital loss carryforwards that are identified in the Capital Loss Carryforward note that follows.
†	The differences between book-basis and tax-basis unrealized appreciation (depreciation) are attributable to the tax deferral of wash sales losses, the mark-to-market adjustment for certain derivatives in accordance with IRC Sec. 1256, the mark to market for Passive Foreign Investment Companies and basis differences in real estate investment trusts.

c) Reclassification of Capital Accounts — In accordance with American Institute of Certified Public Accountants (AICPA) Statement of Position 93-2, Determination, Disclosure, and Financial Statement Presentation of Income, Capital Gain, and Return of Capital Distributions by Investment Companies, the Fund has recorded reclassifications in its capital accounts. These reclassifications had no impact on the NAV of the Fund. The reclassifications are a result of permanent differences between GAAP and tax accounting for such items as net operating losses that reduce distribution requirements. Adjustments are made to reflect the impact these items have on current and future distributions to shareholders. Therefore, the source of the Fund’s distributions may be shown in the accompanying Statement of Changes in Net Assets as from net investment income, from net realized gains on investments or from capital depending on the type of book and tax differences that exist. As of October 31, 2008, the Fund recorded reclassifications to decrease undistributed net investment income by $72 and increase accumulated net realized gain by $72.

14

d) Capital Loss Carryforward — At October 31, 2008 (tax-year-end), the Fund had capital loss carryforwards for U.S. federal income tax purposes of approximately:

Year	Amount
2016	$	90,146
Total	$	90,146

e) Financial Accounting Standards Board Interpretation No. 48 — On July 13, 2006, the FASB released FASB Interpretation No. 48 “Accounting for Uncertainty in Income Taxes” (“FIN 48”). FIN 48 provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. The Fund adopted FIN 48 for fiscal years beginning after December 15, 2006. Management has evaluated the implications of FIN 48 for all open tax years (tax years ended October 31, 2006 – 2008) and has determined there is no impact to the Fund’s financial statements.

4. Expenses:

a)

Investment Management Agreements — Hartford Investment Financial Services, LLC (“HIFSCO”) serves as investment manager to the Fund pursuant to an Investment Management Agreement with The Hartford Mutual Funds, Inc. As investment manager, HIFSCO has overall investment supervisory responsibility for the Fund. In addition, HIFSCO provides administrative personnel, services, equipment, facilities and office space for proper operation of the Fund. HIFSCO has contracted with Wellington for the provision of day-to-day investment management services to the Fund in accordance with the Fund’s investment objective and policies. The Fund pays a fee to HIFSCO, a portion of which may be used to compensate Wellington.

The schedule below reflects the rates of compensation paid to HIFSCO for investment management services rendered during the six-month period ended April 30, 2009; the rates are accrued daily and paid monthly:

Average Daily Net Assets	Annual Fee
On first $500 million		0.7500	%
On next $500 million		0.6500	%
On next $4 billion		0.6000	%
On next $5 billion		0.5975	%
Over $10 billion		0.5950	%

b) Accounting Services Agreement – Pursuant to the Fund Accounting Agreement between Hartford Life Insurance Company (“HLIC”) and the Fund, HLIC provides accounting services to the Fund and receives monthly compensation on the Fund’s average net assets. The Fund’s accounting service fees are accrued daily and paid monthly.

Average Daily Net Assets	Annual Fee
On first $5 billion		0.016	%
On next $5 billion		0.014	%
Over $10 billion		0.012	%

15

The Hartford Dividend and Growth Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

c) Operating Expenses — Allocable expenses incurred by the Company are allocated to each Fund and allocated to classes within the Fund in proportion to the average daily net assets of the Fund and each class, except where allocation of certain expenses is more fairly made directly to the Fund or to specific classes within a Fund. During the six-month period ended April 30, 2009, HIFSCO has contractually limited the total operating expenses of this Fund, exclusive of taxes, interest expense, brokerage commissions, certain distribution expenses and extraordinary expenses as follows:

Class A	Class B	Class C	Class I			Class R3			Class R4			Class R5			Class Y
1.25%	NA	NA		1.00	%		1.50	%		1.20	%		0.90	%	NA

d)

Fees Paid Indirectly - The Fund has entered into agreements with State Street Global Markets, LLC and Russell Implementation Services Inc. to partially recapture non-discounted trade commissions. Such rebates are used to pay a portion of the Fund’s expenses. In addition, the Fund’s custodian bank has also agreed to reduce its fees when the Fund maintains cash on deposit in the non-interest-bearing custody account. For the six-month period ended April 30, 2009, these amounts are included in the Statement of Operations.

The ratio of expenses to average net assets in the accompanying financial highlights excludes the reduction in expenses related to fees paid indirectly. Had the fees paid indirectly been included, the annualized expense ratio for the periods listed below would have been as follows:

	Annualized
	Six-Month
	Period			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended
	Ended April			October 31,			October 31,			October 31,			October 31,			October 31,
	30, 2009			2008			2007			2006			2005			2004
Class A Shares		1.20	%		1.08	%		1.09	%		1.13	%		1.16	%		1.22	%
Class B Shares		2.01			1.97			1.95			1.98			2.01			2.03
Class C Shares		1.95			1.83			1.82			1.86			1.88			1.89
Class I Shares		0.87			0.81			0.76			0.98	*
Class R3 Shares		1.50			1.50			1.40	†
Class R4 Shares		1.11			1.09			1.09	‡
Class R5 Shares		0.83			0.79			0.82	§
Class Y Shares		0.71			0.68			0.68			0.70			0.72			0.74

*	From August 31, 2006 (commencement of operations), through October 31, 2006
†	From December 22, 2006 (commencement of operations), through October 31, 2007
‡	From December 22, 2006 (commencement of operations), through October 31, 2007
§	From December 22, 2006 (commencement of operations), through October 31, 2007

e)

Distribution and Service Plan for Class A, B, C, R3 and R4 Shares — HIFSCO is the principal underwriter and distributor of the Fund. HIFSCO is engaged in distribution activities, which include marketing and distribution of shares through broker-dealers, financing distribution costs and maintaining financial books and records. For the six-month period ended April 30, 2009, HIFSCO received front-end load sales charges of $4,458 and contingent deferred sales charges of $213 from the Fund.

The Fund has adopted Distribution and Service Plans in accordance with Rule 12b-1 of the Investment Company Act of 1940, as amended, to compensate the distributor (HIFSCO) for activities intended to result in the sale and distribution of Classes A, B, C, R3 and R4 shares and for providing services for shareholders. The Rule 12b-1 plan applicable to Class A shares of the Funds provides for payment of a Rule 12b-1 fee of up to 0.35% of average daily net assets; however, the Board of Directors has currently authorized 12b-1 payments of only up to 0.25%. Some or all of the fee may be used for shareholder servicing expenses with the remainder used for distribution expenses. Some or the entire Rule 12b-1 fee for Class B shares may be remitted to broker-dealers for distribution and/or shareholder account services. Under the Class B Plan, the Fund pays the distributor 1.00% of the average daily net assets of Class B shares that are outstanding for 8

16

	years or less, 0.25% of which is a fee for services provided to existing shareholders with the remainder used for distribution expenses. After eight years, Class B shares convert to Class A shares. Upon conversion to Class A shares, the Class A plan described above will apply to those shares. Under the Class C Plan, the Fund pays the distributor 1.00% of the average daily net assets of Class C shares outstanding, 0.25% of which is intended as a fee for services provided to existing shareholders with the remainder used for distribution expenses. For Class C shares, some or the entire fee may be remitted to broker-dealers for distribution and/or shareholder account services. Class R3 shares have a distribution fee of 0.50% and Class R4 shares have a distribution fee of 0.25%. For Classes R3 and R4 shares, some or the entire fee may be remitted to broker dealers for distribution and/or shareholder account services. The Fund’s 12b-1 fees are accrued daily and paid monthly.
	For the six-month period ended April 30, 2009, total sales commissions paid to affiliated brokers/dealers of The Hartford for distributing the Fund’s shares were $66. These commissions are in turn paid to sales representatives of the broker/dealers.
f)	Other Related Party Transactions — Certain officers of the Fund are directors and/or officers of HIFSCO and/or The Hartford or its subsidiaries. For the six-month period ended April 30, 2009, a portion of the Fund’s chief compliance officer’s salary was paid by the Fund in the amount of $6. Hartford Administrative Services Company (“HASCO”), an indirect wholly owned subsidiary of The Hartford, provides transfer agent services to the Fund. HASCO was compensated $3,041 for providing such services. These fees are accrued daily and paid monthly.
g)	Payments from Affiliate:
	The total return in the accompanying financial highlights includes payment from affiliates. Had the payment from affiliates been excluded, the total return for the periods listed below would have been as follows:

							Impact from Payment
							from Affiliate for
	Impact from			Total Return			Transfer Agent
	Payment from			Excluding			Allocation			Total Return
	Affiliate for SEC			Payment from			Methodology			Excluding Payment
	Settlement for the			Affiliate for the			Reimbursements for			from Affiliate for
	Year Ended			Year Ended			the Year Ended			the Year Ended
	October 31, 2007			October 31, 2007			October 31, 2004			October 31, 2004
Class A		0.03	%		16.17	%		0.06	%		12.47	%
Class B		0.03			15.19			—			—
Class C		0.03			15.39			0.04			11.72
Class I		0.03			16.64			—			—
Class Y		0.03			16.65			—			—

5. Investment Transactions:

For the six-month period ended April 30, 2009, the Fund’s aggregate purchases and sales of investment securities (excluding short-term investments) were as follows:

	Amount
Cost of Purchases Excluding U.S. Government Obligations	$	635,062
Sales Proceeds Excluding U.S. Government Obligations		504,372

17

The Hartford Dividend and Growth Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

6. Capital Share Transactions:

The following information is for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	For the Six-Month Period Ended April 30, 2009												For the Year Ended October 31, 2008
			Shares					Shares							Shares					Shares
			Issued for					Issued		Net Increase					Issued for					Issued		Net Increase
	Shares		Reinvested		Shares			from		(Decrease) of			Shares		Reinvested		Shares			from		(Decrease) of
	Sold		Dividends		Redeemed			Merger		Shares			Sold		Dividends		Redeemed			Merger		Shares
Class A
Shares		16,939		1,627		(22,326	)		—		(3,760	)		28,976		10,493		(27,322	)		—		12,147
Amount	$	222,548	$	21,591	$	(284,105	)	$	—	$	(39,966	)	$	556,608	$	216,318	$	(502,446	)	$	—	$	270,480
Class B
Shares		1,060		98		(2,967	)		—		(1,809	)		1,813		1,117		(4,749	)		—		(1,819	)
Amount	$	13,551	$	1,281	$	(37,049	)	$	—	$	(22,217	)	$	34,327	$	22,868	$	(88,318	)	$	—	$	(31,123	)
Class C
Shares		1,700		105		(2,763	)		—		(958	)		2,241		1,031		(3,824	)		—		(552	)
Amount	$	22,020	$	1,367	$	(34,375	)	$	—	$	(10,988	)	$	41,699	$	21,027	$	(69,316	)	$	—	$	(6,590	)
Class I
Shares		7,758		187		(1,670	)		—		6,275			11,984		51		(546	)		—		11,489
Amount	$	99,917	$	2,467	$	(20,774	)	$	—	$	81,610		$	210,565	$	952	$	(8,953	)	$	—	$	202,564
Class R3
Shares		109		1		(11	)		—		99			30		—		(7	)		—		23
Amount	$	1,461	$	10	$	(142	)	$	—	$	1,329		$	569	$	13	$	(146	)	$	—	$	436
Class R4
Shares		298		8		(51	)		—		255			525		10		(49	)		—		486
Amount	$	3,938	$	114	$	(676	)	$	—	$	3,376		$	10,068	$	208	$	(901	)	$	—	$	9,375
Class R5
Shares		72		1		(3	)		—		70			14		1		(2	)		—		13
Amount	$	1,019	$	10	$	(35	)	$	—	$	994		$	279	$	16	$	(37	)	$	—	$	258
Class Y
Shares		8,008		460		(3,142	)		—		5,326			23,180		1,110		(1,697	)		—		22,593
Amount	$	103,716	$	6,179	$	(42,461	)	$	—	$	67,434		$	449,513	$	22,787	$	(27,333	)	$	—	$	444,967

The following reflects the conversion of Class B Shares into Class A Shares (reflected as Class A Shares issued and Class B shares redeemed) for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	Shares		Dollars
For the Six-Month Period Ended April 30, 2009		445	$	5,662
For the Year Ended October 31, 2008		654	$	12,822

7. Line of Credit:

The Fund is one of several Hartford Funds that participate in a $500 million committed revolving line of credit facility. The facility is to be used for temporary or emergency purposes. Under the arrangement, the Fund is required to own securities having a market value in excess of 300% of the total bank borrowings. The interest rate on borrowings varies depending on the nature of the loan. The facility also requires a fee to be paid based on the amount of the commitment. During the six-month period ended April 30, 2009, the Fund did not have any borrowings under this facility.

8. Proposed Reorganization:

On May 6, 2009, the Board of Directors (“Board”) of The Hartford Mutual Funds, Inc. (“Company”) approved a Form of Agreement and Plan of Reorganization (“Reorganization Agreement”) that provides for the reorganization of a series of the Company, The Hartford Stock Fund, into the Fund (“Reorganization”). The Reorganization does not require shareholder approval by shareholders of the Fund.

18

Effective as of the close of business on July 31, 2009, in anticipation of the Reorganization, shares of Classes A, B, C, I, R3, R4, R5 and Y of The Hartford Stock Fund will no longer be sold to new investors or existing shareholders (except through reinvested dividends) or be eligible for exchanges from other Hartford Mutual Funds.

The Board, including all of the Directors who are not “interested persons” of the Company (as that term is defined in the Investment Company Act of 1940, as amended) (“Independent Directors”), carefully considered the proposed Reorganization and have determined that it (1) is in the best interests of The Hartford Stock Fund and The Hartford Dividend and Growth Fund (each, a “Fund” and collectively, the “Funds”) and (2) would not result in a dilution of the interests of shareholders of either Fund. In making these determinations, the Board considered that the Reorganization will provide shareholders of The Hartford Stock Fund with (a) a comparable investment and (b) the enhanced potential to realize economies of scale.

The Reorganization is expected to occur on or about October 2, 2009 or on such later date as the officers of the Company determine (“Closing Date”). As of the close of business on the Closing Date, pursuant to the Reorganization Agreement, each holder of Class A, Class B, Class C, Class I, Class R3, Class R4, Class R5 and Class Y shares of The Hartford Stock Fund will become the owner of corresponding full and fractional shares of The Hartford Dividend and Growth Fund having an aggregate value equal to the aggregate value of his or her shares of The Hartford Stock Fund. While the net asset value per share and number of shares held in such shareholder’s account will differ following the Reorganization, the total value of such shareholder’s account will remain the same.

No sales load, commission or other transactional fee will be imposed as a result of the Reorganization. The Funds’ investment adviser, HIFSCO, has agreed to bear all of the expenses incurred in connection with the Reorganization, except for any brokerage fees and brokerage expenses associated with the Reorganization. In addition, the closing of the Reorganization is contingent upon, among other things, receiving an opinion of counsel that the proposed Reorganization will qualify as a tax-free reorganization for federal income tax purposes. As a result, it is anticipated that shareholders will not recognize any gain or loss in connection with the proposed Reorganization.

Shareholders of The Hartford Stock Fund who determine that they do not wish to become shareholders of The Hartford Dividend and Growth Fund may (1) redeem their shares of The Hartford Stock Fund before the Closing Date or (2) exchange their shares of The Hartford Stock Fund before the Closing Date for shares of another Hartford Mutual Fund by contacting the Company or their broker, financial intermediary, or other financial institution. Please note that a redemption or an exchange of shares of The Hartford Stock Fund will be a taxable event and a shareholder may recognize a gain or loss in connection with that transaction.

9. Industry Classifications:

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

19

The Hartford Dividend and Growth Fund

Financial Highlights — (Unaudited)

	- Selected Per-Share Data - (a)																															- Ratios and Supplemental Data -
																																		Ratio of			Ratio of			Ratio of
																																		Expenses			Expenses			Expenses
																																		to Average			to Average			to Average
																																		Net Assets			Net Assets			Net Assets
																																		Before			After			After
							Net																											Waivers			Waivers			Waivers
							Realized																											and			and			and			Ratio of
							and Un-									Distrib-								Net										Reimburse-			Reimburse-			Reimburse-			Net
			Net		Pay-		realized						Dividends			utions								Increase			Net							ments and			ments and			ments and			Invest-			Port-
	Net Asset		Invest-		ments		Gain						from Net			from			Distri-					(Decrease)			Asset					Net Assets		Including			Including			Excluding			ment			folio
	Value at		ment		from		(Loss) on			Total from			Invest-			Realized			butions		Total			in Net			Value at					at End of		Expenses			Expenses			Expenses			Income to			Turn-
	Beginning		Income		(to)		Invest-			Investment			ment			Capital			from		Distri-			Asset			End of		Total			Period		not Subject			not Subject			not Subject			Average			over
Class	of Period		(Loss)		Affiliate		ments			Operations			Income			Gains			Capital		butions			Value			Period		Return(b)			(000’s)		to Cap(c)			to Cap(c)			to Cap(c)			Net Assets			Rate(d)
For the Six-Month Period Ended April 30, 2009 (Unaudited)
A	$	14.56	$	0.15	$	—	$	(1.08	)	$	(0.93	)	$	(0.15	)	$	—		$	—	$	(0.15	)	$	(1.08	)	$	13.48		(6.38	)%(e)	$	2,000,175		1.20	%(f)		1.20	%(f)		1.20	%(f)		2.33	%(f)		17	%
B		14.32		0.10		—		(1.07	)		(0.97	)		(0.09	)		—			—		(0.09	)		(1.06	)		13.26		(6.76	) (e)		182,327		2.18	(f)		2.01	(f)		2.01	(f)		1.54	(f)		—
C		14.28		0.10		—		(1.05	)		(0.95	)		(0.10	)		—			—		(0.10	)		(1.05	)		13.23		(6.65	) (e)		192,822		1.95	(f)		1.95	(f)		1.95	(f)		1.58	(f)		—
I		14.52		0.16		—		(1.07	)		(0.91	)		(0.17	)		—			—		(0.17	)		(1.08	)		13.44		(6.24	) (e)		239,932		0.87	(f)		0.87	(f)		0.87	(f)		2.58	(f)		—
R3		14.71		0.13		—		(1.09	)		(0.96	)		(0.14	)		—			—		(0.14	)		(1.10	)		13.61		(6.51	) (e)		1,763		1.56	(f)		1.50	(f)		1.50	(f)		1.86	(f)		—
R4		14.73		0.15		—		(1.08	)		(0.93	)		(0.16	)		—			—		(0.16	)		(1.09	)		13.64		(6.32	) (e)		11,273		1.11	(f)		1.11	(f)		1.11	(f)		2.34	(f)		—
R5		14.75		0.16		—		(1.08	)		(0.92	)		(0.17	)		—			—		(0.17	)		(1.09	)		13.66		(6.19	) (e)		1,248		0.83	(f)		0.83	(f)		0.83	(f)		2.49	(f)		—
Y		14.75		0.18		—		(1.08	)		(0.90	)		(0.18	)		—			—		(0.18	)		(1.08	)		13.67		(6.07	) (e)		530,506		0.71	(f)		0.71	(f)		0.71	(f)		2.79	(f)		—
For the Year Ended October 31, 2008
A		23.12		0.31		—		(7.32	)		(7.01	)		(0.31	)		(1.24	)		—		(1.55	)		(8.56	)		14.56		(32.24	)		2,214,358		1.09			1.09			1.09			1.62			36
B		22.76		0.14		—		(7.21	)		(7.07	)		(0.13	)		(1.24	)		—		(1.37	)		(8.44	)		14.32		(32.85	)		222,732		1.97			1.97			1.97			0.73			—
C		22.72		0.17		—		(7.21	)		(7.04	)		(0.16	)		(1.24	)		—		(1.40	)		(8.44	)		14.28		(32.80	)		221,895		1.83			1.83			1.83			0.87			—
I		23.07		0.34		—		(7.27	)		(6.93	)		(0.38	)		(1.24	)		—		(1.62	)		(8.55	)		14.52		(32.02	)		167,989		0.82			0.82			0.82			1.77			—
R3		23.37		0.23		—		(7.40	)		(7.17	)		(0.25	)		(1.24	)		—		(1.49	)		(8.66	)		14.71		(32.53	)		455		1.58			1.50			1.50			1.16			—
R4		23.39		0.32		—		(7.42	)		(7.10	)		(0.32	)		(1.24	)		—		(1.56	)		(8.66	)		14.73		(32.25	)		8,410		1.09			1.09			1.09			1.63			—
R5		23.41		0.35		—		(7.40	)		(7.05	)		(0.37	)		(1.24	)		—		(1.61	)		(8.66	)		14.75		(32.06	)		310		0.80			0.80			0.80			1.94			—
Y		23.41		0.37		—		(7.40	)		(7.03	)		(0.39	)		(1.24	)		—		(1.63	)		(8.66	)		14.75		(31.99	)		494,110		0.69			0.69			0.69			2.01			—
For the Year Ended October 31, 2007
A		21.48		0.29		0.01		2.95			3.25			(0.27	)		(1.34	)		—		(1.61	)		1.64			23.12		16.20	(g)		3,236,757		1.09			1.09			1.09			1.35			24
B		21.17		0.11		0.01		2.90			3.02			(0.09	)		(1.34	)		—		(1.43	)		1.59			22.76		15.22	(g)		395,552		1.95			1.95			1.95			0.50			—
C		21.13		0.13		0.01		2.91			3.05			(0.12	)		(1.34	)		—		(1.46	)		1.59			22.72		15.42	(g)		365,443		1.82			1.82			1.82			0.62			—
I		21.46		0.36		—		2.98			3.34			(0.39	)		(1.34	)		—		(1.73	)		1.61			23.07		16.67	(g)		1,899		0.77			0.77			0.77			1.50			—
R3(h)		21.14		0.15		—		2.25			2.40			(0.17	)		—			—		(0.17	)		2.23			23.37		11.38	(e)		177		1.40	(f)		1.40	(f)		1.40	(f)		0.63	(f)		—
R4(i)		21.14		0.21		—		2.26			2.47			(0.22	)		—			—		(0.22	)		2.25			23.39		11.70	(e)		1,994		1.09	(f)		1.09	(f)		1.09	(f)		0.72	(f)		—
R5(j)		21.14		0.26		—		2.26			2.52			(0.25	)		—			—		(0.25	)		2.27			23.41		11.99	(e)		193		0.82	(f)		0.82	(f)		0.82	(f)		0.98	(f)		—
Y		21.72		0.37		—		3.02			3.39			(0.36	)		(1.34	)		—		(1.70	)		1.69			23.41		16.68	(g)		255,138		0.69			0.69			0.69			1.72			—
For the Year Ended October 31, 2006 (k)
A		19.10		0.26		—		3.14			3.40			(0.26	)		(0.76	)		—		(1.02	)		2.38			21.48		18.63			2,626,634		1.14			1.14			1.14			1.32			29
B		18.84		0.09		—		3.10			3.19			(0.10	)		(0.76	)		—		(0.86	)		2.33			21.17		17.63			365,678		1.99			1.99			1.99			0.48			—
C		18.81		0.12		—		3.08			3.20			(0.12	)		(0.76	)		—		(0.88	)		2.32			21.13		17.75			317,139		1.87			1.87			1.87			0.60			—
I(l)		20.48		0.03		—		1.03			1.06			(0.08	)		—			—		(0.08	)		0.98			21.46		5.20	(e)		11		1.08	(f)		0.98	(f)		0.98	(f)		0.59	(f)		—
Y		19.30		0.35		—		3.18			3.53			(0.35	)		(0.76	)		—		(1.11	)		2.42			21.72		19.15			133,376		0.71			0.71			0.71			1.75			—
For the Year Ended October 31, 2005
A		17.79		0.23		—		1.51			1.74			(0.24	)		(0.19	)		—		(0.43	)		1.31			19.10		9.87			2,109,617		1.17			1.17			1.17			1.25			26
B		17.56		0.08		—		1.48			1.56			(0.09	)		(0.19	)		—		(0.28	)		1.28			18.84		8.92			343,650		2.01			2.01			2.01			0.41			—
C		17.53		0.10		—		1.48			1.58			(0.11	)		(0.19	)		—		(0.30	)		1.28			18.81		9.08			280,967		1.89			1.89			1.89			0.54			—
Y		17.97		0.32		—		1.53			1.85			(0.33	)		(0.19	)		—		(0.52	)		1.33			19.30		10.36			114,777		0.73			0.73			0.73			1.64			—
For the Year Ended October 31, 2004
A		15.94		0.16		0.01		1.82			1.99			(0.14	)		—			—		(0.14	)		1.85			17.79		12.53	(g)		1,838,567		1.23			1.23			1.23			0.96			25
B		15.75		0.03		—		1.80			1.83			(0.02	)		—			—		(0.02	)		1.81			17.56		11.62			319,512		2.04			2.04			2.04			0.16			—
C		15.72		0.05		0.01		1.79			1.85			(0.04	)		—			—		(0.04	)		1.81			17.53		11.76	(g)		277,706		1.90			1.90			1.90			0.29			—
Y		16.11		0.24		—		1.86			2.10			(0.24	)		—			—		(0.24	)		1.86			17.97		13.06			69,088		0.75			0.75			0.75			1.44			—

(a)	Information presented relates to a share outstanding throughout the indicated period.
(b)	Assumes initial investment at net asset value at the beginning of each period, reinvestment of all distributions, the complete redemption of the investment at net asset value at the end of each period and no sales charge. Total return would be reduced if sales charges were taken into account.
(c)	Ratios do not include fees paid indirectly (See Expenses in the accompanying Notes to Financial Statements).
(d)	Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between the classes of shares issued.
(e)	Not annualized.
(f)	Annualized.
(g)	Total return without the inclusion of the Payments from (to) Affiliate, as noted on the Statement of Operations, can be found in Expenses in the accompanying Notes to Financial Statements.
(h)	Commenced operations on December 22, 2006.
(i)	Commenced operations on December 22, 2006.
(j)	Commenced operations on December 22, 2006.
(k)	Per share amounts have been calculated using average shares outstanding method.
(l)	Commenced operations on August 31, 2006.

20

The Hartford Dividend and Growth Fund

Directors and Officers (Unaudited)

The Board of Directors appoints officers who are responsible for the day-to-day operations of the Fund and who execute policies formulated by the Directors. Each director serves until his or her death, resignation, or retirement or until the next annual meeting of shareholders is held or until his or her successor is elected and qualifies.

Directors and officers who are employed by or who have a financial interest in The Hartford are considered “interested” persons of the Fund pursuant to the Investment Company Act of 1940, as amended. Each officer and three of the Fund’s directors, as noted in the chart below, are “interested” persons of the Fund. Each director serves as a director for The Hartford Mutual Funds, Inc., The Hartford Mutual Funds II, Inc., The Hartford Income Shares Fund, Inc., Hartford Series Fund, Inc., and Hartford HLS Series Fund II, Inc., which collectively consist of 100 funds. Correspondence may be sent to directors and officers c/o Hartford Mutual Funds, P.O. Box 2999, Hartford, Connecticut 06104-2999, except that correspondence to Ms. Fagely may be sent to 500 Bielenberg Drive, Woodbury, Minnesota 55125.

The table below sets forth, for each director and officer, his or her name, year of birth, current position with the Fund and date first elected or appointed to The Hartford Mutual Funds, Inc. (“MF”) and The Hartford Mutual Funds II, Inc. (“MF2”), principal occupation, and, for directors, other directorships held. The Fund’s statement of additional information contains further information on the directors and is available free of charge by calling 1-888-843-7824 or writing to Hartford Mutual Funds, P.O. Box 64387, St. Paul, MN 55164-0387.

Information on the aggregate remuneration paid to the directors of the Fund can be found in the Statement of Operations herein. The Fund pays a portion of the Chief Compliance Officer’s compensation, but does not pay salaries or compensation to any of its officers or directors who are employed by The Hartford.

Non-Interested Directors

Lynn S. Birdsong (1946) Director since 2003, Co-Chairman of the Investment Committee

Mr. Birdsong is a private investor. Since 1981, Mr. Birdsong has been a partner in Birdsong Company, an advertising specialty firm. Since 2003, Mr. Birdsong has been an independent director of The Japan Fund. From 2003 to March 2005, Mr. Birdsong was an independent director of the Atlantic Whitehall Funds. From 1979 to 2002, Mr. Birdsong was a managing director of Zurich Scudder Investments, an investment management firm. During his employment with Scudder, Mr. Birdsong was an interested director of The Japan Fund.

Robert M. Gavin, Jr. (1940) Director since 2002 (MF) and 1986 (MF2), Chairman of the Board since 2004

Dr. Gavin is an educational consultant. Prior to September 1, 2001, he was President of Cranbrook Education Community and prior to July 1996, he was President of Macalester College, St. Paul, Minnesota.

Duane E. Hill (1945) Director since 2001 (MF) and 2002 (MF2), Chairman of the Nominating Committee

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

Sandra S. Jaffee (1941) Director since 2005

Ms. Jaffee is Chairman and Chief Executive Officer of Fortent (formerly Searchspace Group), a leading provider of compliance/regulatory technology to financial institutions. Ms. Jaffee served as an Entrepreneur in Residence with Warburg Pincus, a private equity firm, from August 2004 to August 2005. From September 1995 to July 2004, Ms. Jaffee served as Executive Vice President at Citigroup, where she was President and Chief Executive Officer of Citibank’s Global Securities Services (1995-2003).

William P. Johnston (1944) Director since 2005, Chairman of the Compliance Committee

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

21

The Hartford Dividend and Growth Fund
Directors and Officers (Unaudited) — (continued)

Phillip O. Peterson (1944) Director since 2002 (MF) and 2000 (MF2), Chairman of the Audit Committee

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

Lemma W. Senbet (1946) Director since 2005

Dr. Senbet is the William E. Mayer Chair Professor of Finance at the University of Maryland, Robert H. Smith School of Business. He was chair of the Finance Department during 1998-2006. Previously he was an endowed professor of finance at the University of Wisconsin-Madison. Also, he was director of the Fortis Funds from March 2000-July 2002. Dr. Senbet served the finance profession in various capacities, including as director of the American Finance Association and President of the Western Finance Association. In 2006, Dr. Senbet was inducted Fellow of Financial Management Association International for his career-long distinguished scholarship and professional service.

Interested Directors and Officers

Thomas M. Marra* (1958) Director since 2002

Mr. Marra has served as President and Chief Operating Officer of The Hartford Financial Services Group, Inc. (“The Hartford”) since 2007. Mr. Marra currently serves as Director of Hartford Life, Inc. (“HL, Inc.”). Mr. Marra served as Chief Operating Officer of Hartford Life Insurance Company, Inc. (“Hartford Life”) (2000-2008), as President of Hartford Life (2002-2008) and as Director of Hartford Life’s Investment Products Division from 1998 to 2000.

*     On February 24, 2009, The Hartford and Mr. Marra determined to enter into a mutually agreed separation whereby Mr. Marra will retire, and his role as an executive officer and employee of The Hartford will terminate, effective July 3, 2009. Mr. Marra will resign his position as a Director of the Fund effective June 25, 2009.

Lowndes A. Smith (1939) Director since 2002, Co-Chairman of the Investment Committee

Mr. Smith served as Vice Chairman of The Hartford from February 1997 to January 2002, as President and Chief Executive Officer of Hartford Life, Inc. from February 1997 to January 2002, and as President and Chief Operating Officer of The Hartford Life Insurance Companies from January 1989 to January 2002. Mr. Smith serves as a Director of White Mountains Insurance Group, Ltd., One Beacon Insurance, Symetra Financial and as a Managing Director of Whittington Gray Associates.

John C. Walters* (1962) Director since 2008

Mr. Walters currently serves as Chief Executive Officer, President and Director of HL, Inc. Mr. Walters previously served as President of the U.S. Wealth Management Division of Hartford Life, Inc., as Co-Chief Operating Officer of Hartford Life Insurance Company (2007-2008) and as Executive Vice President and Director of its Investment Products Division (2000-2008). Mr. Walters also serves as Chairman of the Board, Chief Executive Officer, President and Director of Hartford Life Insurance Company and as Executive Vice President of The Hartford. In addition, Mr. Walters is Manager of HL Investment Advisors, LLC (“HL Advisors”).

*     Mr. Walters previously served as President and Chief Executive Officer of the Fund (2007 – 2009).

Other Officers

Robert M. Arena, Jr. (1968) President and Chief Executive Officer since 2009 (served as Vice President of the Fund (2006 – 2009)) Mr. Arena serves as Executive Vice President of Hartford Life Insurance Company, (“Hartford Life”). Additionally, Mr. Arena is Director and Senior Vice President of Hartford Administrative Services Company, (“HASCO”), Manager, Chief Executive Officer and President of Hartford Investment Financial Services, LLC (“HIFSCO”) and HL Advisors. Prior to joining The Hartford in 2004, he was Senior Vice President in charge of Product Management for American Skandia/Prudential in the individual annuities division. Mr. Arena joined American Skandia in 1996.

Tamara L. Fagely (1958) Vice President, Treasurer and Controller since 2002 (MF) 1993 (MF2)

Ms. Fagely has been a Vice President of HASCO since 1998 and Chief Financial Officer since 2006. Currently Ms. Fagely is a Vice President of Hartford Life. She served as Assistant Vice President of Hartford Life from December 2001 through March 2005. In addition, Ms. Fagely is Controller and Chief Financial Officer of HIFSCO.

Brian Ferrell (1962) AML Compliance Officer since 2008

Mr. Ferrell has served as Assistant Vice President and AML Compliance Officer for The Hartford since 2006 and as AML Compliance Officer for HASCO and Hartford Investor Services Company, LLC (“HISC”) since 2008. Prior to joining The Hartford in 2006, Mr. Ferrell held various positions at the U.S. Department of the Treasury, (the “Treasury”), from 2001 to 2006 where he served as Chief Counsel for the Treasury’s Financial Crimes Enforcement Network, (“FinCEN”) from 2005 – 2006.

22

Thomas D. Jones, III (1965) Vice President and Chief Compliance Officer since 2006

Mr. Jones serves as Chief Compliance Officer for the Hartford Mutual Funds and Vice President and Director of Securities Compliance for The Hartford. He is also Vice President of HIFSCO, HL Advisors, and Hartford Life Insurance Company. Mr. Jones joined The Hartford in 2006 from SEI Investments, where he served as Chief Compliance Officer for its mutual funds and investment advisers. Prior to joining SEI, Mr. Jones was First Vice President and Compliance Director for Merrill Lynch Investment Managers (Americas) (“MLIM”), where he worked from 1992-2004. At MLIM, Mr. Jones was responsible for the compliance oversight of various investment products, including mutual funds, wrap accounts, institutional accounts and alternative investments.

Edward P. Macdonald (1967) Vice President, Secretary and Chief Legal Officer since 2005

Mr. Macdonald serves as Assistant General Counsel and Assistant Vice President of The Hartford and Chief Legal Officer and Vice President of HIFSCO. He also serves as Vice President and Secretary of HASCO, Assistant Vice President of Hartford Life, and Chief Legal Officer, Secretary and Vice President of HL Advisors. Prior to joining The Hartford in 2005, Mr. Macdonald was Chief Counsel, Investment Management for Prudential Financial (formerly American Skandia Investment Services, Inc.). He joined Prudential in April 1999.

Vernon J. Meyer (1964) Vice President since 2006

Mr. Meyer serves as Senior Vice President of Hartford Life and as Director of its Investment Advisory Group in the Individual Markets Group segment. He also serves as Senior Vice President of HIFSCO and HL Advisors. Prior to joining The Hartford in 2004, Mr. Meyer was with MassMutual which he joined in 1987.

D. Keith Sloane (1960) Vice President since 2009

Mr. Sloane is a Senior Vice President of Hartford Life where he serves as Director of mutual fund product management for The Hartford’s mutual funds and 529 college savings businesses. Additionally, Mr. Sloane currently serves as Senior Vice President of HIFSCO, HL Advisors, and HASCO. Prior to joining The Hartford in 2007, Mr. Sloane was Director of product marketing and led the mutual fund business for Wachovia Securities (“Wachovia”) in their investment products group. Mr. Sloane joined Wachovia in 1995.

Jane Wolak (1961) Vice President since 2009

Ms. Wolak currently serves as Vice President of Hartford Life. Ms. Wolak joined Hartford Life as Vice President, Retail Product Services in May 2007. She is also Vice President of HASCO. Previously, Ms. Wolak was with Sun Life Financial where she held the position of Vice President, Service Center Operations from 2001 – 2007.

HOW TO OBTAIN A COPY OF THE FUND’S PROXY VOTING POLICIES AND VOTING RECORDS

A description of the policies and procedures that the Fund uses to determine how to vote proxies relating to portfolio securities and a record of how the Fund voted any proxies for the twelve-month period ended June 30, 2008 is available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov.

QUARTERLY PORTFOLIO HOLDINGS INFORMATION

The Fund files a complete schedule of portfolio holdings with the Commission for the first and third quarters of each fiscal year on Form N-Q. The Fund’s Forms are available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov. The Form N-Q may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330.

23

The Hartford Dividend and Growth Fund

Expense Example (Unaudited)

Your Fund’s Expenses

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments and contingent deferred sales charges (CDSC) (2) ongoing costs including management fees; distribution fees; and other fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the period of October 31, 2008 through April 30, 2009.

Actual Expenses

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

Hypothetical Example for Comparison Purposes

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

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads) and CDSC. Therefore, the second line 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 are equal to the Fund’s annualized expense ratios multiplied by average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

	Actual return						Hypothetical (5% return before expenses)
					Expenses paid						Expenses paid					Days in
					during the period						during the period					the		Days
	Beginning		Ending Account		October 31, 2008		Beginning		Ending Account		October 31,		Annualized			current		in the
	Account Value		Value		through		Account Value		Value		2008 through		expense			1/2		full
	October 31, 2008		April 30, 2009		April 30, 2009		October 31, 2008		April 30, 2009		April 30, 2009		ratio			year		year
Class A	$	1,000.00	$	936.20	$	5.76	$	1,000.00	$	1,018.84	$	6.00		1.20	%		181		365
Class B	$	1,000.00	$	932.42	$	9.63	$	1,000.00	$	1,014.82	$	10.04		2.01			181		365
Class C	$	1,000.00	$	933.48	$	9.34	$	1,000.00	$	1,015.12	$	9.74		1.95			181		365
Class I	$	1,000.00	$	937.60	$	4.17	$	1,000.00	$	1,020.48	$	4.35		0.87			181		365
Class R3	$	1,000.00	$	934.85	$	7.19	$	1,000.00	$	1,017.35	$	7.50		1.50			181		365
Class R4	$	1,000.00	$	936.78	$	5.33	$	1,000.00	$	1,019.29	$	5.55		1.11			181		365
Class R5	$	1,000.00	$	938.11	$	3.98	$	1,000.00	$	1,020.67	$	4.15		0.83			181		365
Class Y	$	1,000.00	$	939.25	$	3.41	$	1,000.00	$	1,021.27	$	3.55		0.71			181		365

24

The Hartford Equity Growth Allocation Fund

Table of Contents

Manager Discussions (Unaudited)	2
Financial Statements
Schedule of Investments at April 30, 2009 (Unaudited)	4
Statement of Assets and Liabilities at April 30, 2009 (Unaudited)	5
Statement of Operations for the Six Month Period Ended April 30, 2009 (Unaudited)	6
Statement of Changes in Net Assets for the Six Month Period Ended April 30, 2009 (Unaudited) and the Year Ended October 31, 2008	7
Notes to Financial Statements (Unaudited)	8
Financial Highlights (Unaudited)	17
Directors and Officers (Unaudited)	18
How to Obtain a Copy of the Fund’s Proxy Voting Policies and Proxy Voting Records (Unaudited)	20
Quarterly Portfolio Holdings Information (Unaudited)	20
Expense Example (Unaudited)	21

The Hartford Equity Growth Allocation Fund
(subadvised by Hartford Investment Management Company)

Performance Overview(1) 5/28/04 – 4/30/09
Growth of a $10,000 investment in Class A which includes Sales Charge

S&P 500 Index is a market capitalization weighted price index composed of 500 widely held common stocks.

You cannot invest directly in an index.

The value of shares will fluctuate so that, when redeemed, shares may be worth more or less than their original cost. The chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.

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

Investment objective – Seeks long-term capital appreciation.

Average Annual Total Returns(2,3,4) (as of 4/30/09)

	Inception		1			Since
	Date		Year			Inception
Equity Growth Allocation A#		5/28/04		-37.84	%		-1.84	%
Equity Growth Allocation A##		5/28/04		-41.26	%		-2.96	%
Equity Growth Allocation B#		5/28/04		-38.26	%		-2.50	%
Equity Growth Allocation B##		5/28/04		-41.31	%		-2.85	%
Equity Growth Allocation C#		5/28/04		-38.34	%		-2.52	%
Equity Growth Allocation C##		5/28/04		-38.94	%		-2.52	%
Equity Growth Allocation I#		5/28/04		-37.63	%		-1.65	%
Equity Growth Allocation R3#		5/28/04		-38.00	%		-1.96	%
Equity Growth Allocation R4#		5/28/04		-37.86	%		-1.83	%
Equity Growth Allocation R5#		5/28/04		-37.65	%		-1.68	%

#	Without sales charge
##	With sales charge

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)	Growth of a $10,000 investment in Classes B, C, I, R3, R4 and R5 shares will vary from results seen above due to differences in the expenses charged to these classes.
(2)	Class I shares commenced operations on 8/31/06. Performance prior to 8/31/06 reflects Class A performance. Class R3, R4 and R5 shares commenced operations on 12/22/06. Performance prior to 12/22/06 reflects Class A performance.
(3)	The initial investment in Class A shares reflects the maximum sales charge and Classes B and C reflect CDSC.
(4)	Total returns presented above were calculated using the Fund’s net asset value available to shareholders for sale or redemption of Fund shares on April 30, 2009, which excludes investment transactions as of this date.

Portfolio Managers
Hugh Whelan, CFA	Edward C. Caputo, CFA
Managing Director	Vice President

How did the Fund perform?

The Class A shares of The Hartford Equity Growth Allocation Fund returned -5.37%, before sales charge, for the six-month period ended April 30, 2009, versus -8.53% for the S&P 500 Index, and - -4.83% for the Lipper Multi-Cap Core Funds category, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

The U.S. recession continued to deepen during the six-month period under review. Rising unemployment weighed on personal income and spending, while first quarter industrial production posted the steepest quarterly decline in more than 30 years. However, as the six- month period drew to a close, there were some signs that perhaps the rate of economic decline was beginning to slow. Financial conditions stabilized a bit, while the Fed’s purchases of long-term Treasuries and mortgage-backed securities also provided strong support for the mortgage market, driving fixed mortgage rates lower.

This environment initially created another difficult period for stocks, with the S&P 500 Index closing at a new low of 676.53 on March 9, down -29.30% since the start of the 6-month period. However, emergent signs of a slowdown in the economy’s free-fall helped lift the index through the remainder of the period, leaving it down “only” -8.53% for the period. The index was in the black in March and April, gaining 8.76% and 9.57%, respectively, for a gain of 29.38% from March 9 through the end of the period. Declines were widespread across most equity asset classes during the six-month period. Among the eleven equity

2

asset classes in our investment universe, emerging market stocks, EAFE small cap stocks, and U.S. midcap growth stock indices posted positive returns over the 6-month period. U.S. Real-Estate Investment Trusts (REITS) led the way lower during the period, while growth stocks continued to outperform value stocks across all market capitalization levels. International stocks outperformed U.S. stocks.

There are two main drivers of the Fund’s performance: asset allocation among various asset classes and performance of the underlying funds. With regard to asset allocation, the Fund is fully invested in the equity markets. Therefore, we seek to add value by strategically allocating within the equity investment sub asset classes. Over the last six-months, the Fund benefited from our strategic asset allocation decisions within equities. Specifically, favorable allocations to emerging market stocks and international small cap stocks helped offset unfavorable allocations to domestic stocks.

Beyond the asset allocation decision, we also seek to add value by selecting the underlying mutual funds that will most effectively deliver the target asset class exposures. We analyze all of the funds in our investment universe, looking through each fund’s objective and stated benchmark to see what it actually holds and how it really behaves. During the period, underlying fund selection detracted from our overall performance.

During the period, the Fund continued to utilize Exchange-Traded Funds (ETFs) to obtain asset class exposures otherwise unavailable through The Hartford family of funds. Specifically, the Fund has target allocations to ETFs that provide U.S. real estate and international real estate exposure.

Whenever possible, we rely on cash flows to execute our allocation changes. That was the case during the six-month period ended April 30, and no hard rebalance (i.e. a fund rebalancing to move the underlying fund investments to their target allocation percentages) was required.

What is the outlook?

In equities the earnings picture is cloudy. First, earnings are falling at near record-breaking rates and all indications are that they will continue to fall. Second, the quality and reliability of the earnings reported is lower than historical standards as the gap between pro forma (“street”) earnings and GAAP (Generally Accepted Accounting Principles) earnings rose in the past several months. Third, there is little clarity in future earnings prospects as the disparity among analyst estimates for future earnings remains at elevated levels. Historically, such consensus building was a precondition to the final, sustained recovery from bear markets associated with recessions.

We believe that investors are well served by adhering to a strategic, diversified portfolio and rebalancing accordingly. We construct these portfolios based upon the long-term properties of asset classes. We look at their long-term returns, volatilities, and correlations between each other and run optimizations to build an optimal portfolio.

Composition by Underlying Fund
as of April 30, 2009

	Percentage of Net
Fund Name	Assets
SPDR DJ Wilshire International Real Estate ETF		2.2	%
SPDR DJ Wilshire REIT ETF		0.4
The Hartford Capital Appreciation Fund, Class Y		18.7
The Hartford Capital Appreciation II Fund, Class Y		2.1
The Hartford Disciplined Equity Fund, Class Y		6.1
The Hartford Dividend and Growth Fund, Class Y		1.3
The Hartford Equity Income Fund, Class Y		2.9
The Hartford Fundamental Growth Fund, Class Y		1.2
The Hartford Global Growth Fund, Class Y		4.9
The Hartford Growth Fund, Class Y		1.9
The Hartford Growth Opportunities Fund, Class Y		8.3
The Hartford International Opportunities Fund, Class Y		8.5
The Hartford International Small Company Fund, Class Y		5.1
The Hartford MidCap Value Fund, Class Y		0.0
The Hartford Select MidCap Growth Fund, Class Y		0.0
The Hartford Select MidCap Value Fund, Class Y		2.0
The Hartford Select SmallCap Value Fund, Class Y		7.0
The Hartford Small Company Fund, Class Y		7.6
The Hartford Value Fund, Class Y		19.8
The Hartford Value Opportunities Fund, Class Y		0.0
Other Assets and Liabilities		0.0
Total		100.0	%

3

The Hartford Equity Growth Allocation Fund

Schedule of Investments

April 30, 2009 (Unaudited)

(000’s Omitted)

Shares or Principal Amount					Market Value ╪
AFFILIATED INVESTMENT COMPANIES — 97.4%
EQUITY FUNDS — 97.4%
	1,395	The Hartford Capital Appreciation Fund, Class Y			$	34,475
	428	The Hartford Capital Appreciation II Fund, Class Y•				3,833
	1,233	The Hartford Disciplined Equity Fund, Class Y				11,186
	169	The Hartford Dividend and Growth Fund, Class Y				2,309
	595	The Hartford Equity Income Fund, Class Y				5,372
	288	The Hartford Fundamental Growth Fund, Class Y•				2,205
	827	The Hartford Global Growth Fund, Class Y•				9,056
	296	The Hartford Growth Fund, Class Y•				3,574
	854	The Hartford Growth Opportunities Fund, Class Y•				15,398
	1,544	The Hartford International Opportunities Fund, Class Y				15,668
	1,202	The Hartford International Small Company Fund, Class Y				9,391
	2	The Hartford MidCap Value Fund, Class Y				14
	4	The Hartford Select MidCap Growth Fund, Class Y•				28
	602	The Hartford Select MidCap Value Fund, Class Y				3,785
	1,961	The Hartford Select SmallCap Value Fund, Class Y				13,004
	1,075	The Hartford Small Company Fund, Class Y				14,091
	4,539	The Hartford Value Fund, Class Y				36,581
	5	The Hartford Value Opportunities Fund, Class Y				45
		Total equity funds (cost $257,124)			$	180,015
		Total investments in affiliated investment companies (cost $257,124)			$	180,015
EXCHANGE TRADED FUNDS — 2.6%
	160	SPDR DJ Wilshire International Real Estate ETF			$	4,000
	24	SPDR DJ Wilshire REIT ETF				837
		Total exchange traded funds (cost $6,404)			$	4,837
		Total long-term investments (cost $263,528)			$	184,852
		Total investments (cost $263,528) ▲	100.0	%	$	184,852
		Other assets and liabilities	—	%		8
		Total net assets	100 0	%	$	184,860

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

▲ At April 30, 2009, the cost of securities for federal income tax purposes was $263,761 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	510
Unrealized Depreciation		(79,419	)
Net Unrealized Depreciation	$	(78,909	)

•	Currently non-income producing.
╪	See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of securities.

FAS 157 Disclosure of Investment Valuation Hierarchy Levels

Assets:
Investment in securities — Level 1	$	184,852
Total	$	184,852

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

4

The Hartford Equity Growth Allocation Fund

Statement of Assets and Liabilities

April 30, 2009 (Unaudited)

(000’s Omitted)

Assets:
Investments in securities, at fair value (cost $6,404)	$	4,837
Investments in underlying affiliated funds, at fair value (cost $257,124)		180,015
Receivables:
Investment securities sold		78
Fund shares sold		220
Dividends and interest		—
Other assets		112
Total assets		185,262
Liabilities:
Payables:
Fund shares redeemed		301
Investment management fees		4
Distribution fees		16
Accrued expenses		81
Total liabilities		402
Net assets	$	184,860
Summary of Net Assets:
Capital stock and paid-in-capital		290,817
Accumulated undistributed net investment income		679
Accumulated net realized loss on investments		(27,960	)
Unrealized depreciation of investments		(78,676	)
Net assets	$	184,860
Shares authorized		450,000
Par value	$	0.001
Class A: Net asset value per share/Maximum offering price per share	$	7.68/$8.12
Shares outstanding		13,992
Net assets	$	107,430
Class B: Net asset value per share	$	7.64
Shares outstanding		3,334
Net assets	$	25,463
Class C: Net asset value per share	$	7.61
Shares outstanding		5,663
Net assets	$	43,085
Class I: Net asset value per share	$	7.67
Shares outstanding		95
Net assets	$	726
Class R3: Net asset value per share	$	7.65
Shares outstanding		86
Net assets	$	661
Class R4: Net asset value per share	$	7.64
Shares outstanding		448
Net assets	$	3,422
Class R5: Net asset value per share	$	7.67
Shares outstanding		531
Net assets	$	4,073

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

5

The Hartford Equity Growth Allocation Fund

Statement of Operations

For the Six Month Period Ended April 30, 2009 (Unaudited)

(000’s Omitted)

Investment Income:
Dividends	$	120
Dividends from underlying affiliated funds		2,975
Total investment income		3,095
Expenses:
Investment management fees		135
Transfer agent fees		291
Distribution fees
Class A		125
Class B		121
Class C		219
Class R3		2
Class R4		3
Custodian fees		1
Accounting services		11
Registration and filing fees		44
Board of Directors’ fees		2
Audit fees		5
Other expenses		46
Total expenses (before waivers)		1,005
Expense waivers		(128	)
Transfer agent fee waivers		(36	)
Total waivers		(164	)
Total expenses, net		841
Net investment income		2,254
Net Realized Loss on Investments:
Net realized loss on investments in underlying affiliated funds		(27,714	)
Net realized loss on investments in securities		(13	)
Net Realized Loss on Investments		(27,727	)
Net Changes in Unrealized Appreciation of Investments:
Net unrealized appreciation of investments		15,300
Net Changes in Unrealized Appreciation of Investments		15,300
Net Loss on Investments		(12,427	)
Net Decrease in Net Assets Resulting from Operations	$	(10,173	)

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

6

The Hartford Equity Growth Allocation Fund

Statement of Changes in Net Assets

(000’s Omitted)

	For the Six-Month
	Period Ended			For the
	April 30, 2009			Year Ended
	(Unaudited)			October 31, 2008
Operations:
Net investment income (loss)	$	2,254		$	(667	)
Net realized gain (loss) on investments		(27,727	)		13,299
Net unrealized appreciation (depreciation) of investments		15,300			(145,028	)
Net decrease in net assets resulting from operations		(10,173	)		(132,396	)
Distributions to Shareholders:
From net investment income
Class A		(1,018	)		(6,892	)
Class B		—			(1,544	)
Class C		(149	)		(2,397	)
Class I		(321	)		(7	)
Class R3		(5	)		(33	)
Class R4		(31	)		(40	)
Class R5		(51	)		(4	)
From net realized gain on investments
Class A		(1,143	)		(10,090	)
Class B		(288	)		(2,785	)
Class C		(459	)		(4,316	)
Class I		(7	)		(4	)
Class R3		(7	)		(55	)
Class R4		(28	)		(47	)
Class R5		(16	)		(4	)
Total distributions		(3,523	)		(28,218	)
Capital Share Transactions:
Class A		2,978			34,133
Class B		(823	)		5,149
Class C		1,885			9,733
Class I		(1,133	)		901
Class R3		14			283
Class R4		1,224			3,306
Class R5		2,592			2,210
Net increase from capital share transactions		6,737			55,715
Net decrease in net assets		(6,959	)		(104,899	)
Net Assets:
Beginning of period		191,819			296,718
End of period	$	184,860		$	191,819
Accumulated undistributed (distribution in excess of) net investment income (loss)	$	679		$	—

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

7

The Hartford Equity Growth Allocation Fund

Notes to Financial Statements
April 30, 2009 (Unaudited)

(000’s Omitted)

1. Organization:

The Hartford Mutual Funds, Inc. (“Company”) is an open-end management investment company comprised of fifty-two portfolios. Financial statements for The Hartford Equity Growth Allocation Fund (the “Fund”), a series of the Company, are included in this report.

The Company is organized under the laws of the State of Maryland and is registered with the Securities and Exchange Commission (“SEC”) under the Investment Company Act of 1940, as amended (“1940 Act”). The Fund is Falsea non-diversifieda diversified open-end management investment company.

Class A shares are sold with a front-end sales charge of up to 5.50%. Class B shares are sold with a contingent deferred sales charge which is assessed on the lesser of the per share net asset value (“NAV”) of the shares at the time of redemption or the original purchase price, and declines from up to 5.00% to zero depending on the period of time the shares are held. Class C shares are sold with a contingent deferred sales charge of up to 1.00% on shares redeemed within twelve months of purchase. Class I shares are sold without sales charges to certain eligible investors through advisory fee-based wrap programs. Classes R3, R4, R5 shares, which are offered to employer-sponsored retirement plans, are sold without a sales charge. All classes of shares have identical voting, redemption, dividend, liquidation and other rights and the same terms and conditions, with the exceptions that each class may have different expenses, which may affect performance, and except that Class B shares automatically convert to Class A shares after 8 years.

The Fund, as a “Fund of Funds”, invests the majority of its assets in Class Y shares of other Hartford mutual funds (“Underlying Funds”) as well as certain exchange-traded funds (“ETFs”). The Fund seeks its investment goals through implementation of a strategic asset allocation recommendation provided by Hartford Investment Management Company (“Hartford Investment Management”), a wholly-owned indirect subsidiary of The Hartford Financial Services Group, Inc. (“The Hartford”).

Effective at the close of business on September 30, 2009 (the “Close Date”), no new or additional investments will be allowed in Class B shares of The Hartford Mutual Funds (including investments through any systematic investment plan). After the Close Date, existing shareholders of Class B shares may continue to hold their Class B shares, exchange their Class B shares for Class B shares of another Hartford Mutual Fund (as permitted by existing exchange privileges), and redeem their Class B shares as described in the Fund’s prospectus. Reinstatement privileges with respect to Class B shares will continue under the current policy. If you have chosen to reinvest capital gains and dividends, any such capital gains or dividends on Class B shares will continue to be reinvested in Class B shares of the Fund. For Class B shares outstanding as of the Close Date, all Class B share attributes, including the 12b-1 fee, contingent deferred sales charge schedule, and conversion to Class A shares remain unchanged.

2. Significant Accounting Policies:

The accounting policies of the affiliated underlying funds are outlined in the shareholder reports for such funds, available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov. The reports may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330. The affiliated Underlying Funds are not covered by this report.

The following is a summary of significant accounting policies of the Fund, which are in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”).

a) Security Transactions and Investment Income — Security transactions are recorded on the trade date (the date the order to buy or sell is executed). Security gains and losses are determined on the basis of identified cost.

8

	Dividend income is accrued as of the ex-dividend date. Income and capital gain distributions from Underlying Funds are recorded on the ex-dividend date.
b)	Security Valuation — Investments in open-end mutual funds are valued at the respective NAV of each open-end mutual fund on the valuation date.
	The Fund generally uses market prices in valuing portfolio securities. If market prices are not readily available or are deemed unreliable, the Fund will use the fair value of the security as determined in good faith under policies and procedures established by and under the supervision of the Fund’s Board of Directors. Market prices may be deemed unreliable, for example, if a security is thinly traded or if an event has occurred after the close of the security’s primary markets, but before the close of the New York Stock Exchange (the “Exchange”) (normally 4:00 p.m. Eastern Time, referred to as the “Valuation Time”) that is expected to affect the value of the portfolio security. The circumstances in which the Fund may use fair value pricing include, among others: (i) the occurrence of events that are significant to a particular issuer, such as mergers, restructuring or defaults; (ii) the occurrence of events that are significant to an entire market, such as natural disasters in a particular region or governmental actions; (iii) trading restrictions on securities; (iv) thinly traded securities and (v) market events such as trading halts and early market closings. In addition, with respect to the valuation of stocks primarily traded on foreign markets, the Fund uses a fair value pricing service approved by the Fund’s Board of Directors, which employs quantitative models that evaluate changes in the value of foreign market proxies (e.g., futures contracts, ADR’s, exchange traded funds (“ETF’s”)) after the close of the foreign markets but before the close of the Exchange. Securities that are primarily traded on foreign markets may trade on days that are not business days of the Fund. The value of the foreign securities in which the Fund invests may change on days when a shareholder will not be able to purchase or redeem shares of the Fund. Fair value pricing is subjective in nature and the use of fair value pricing by the Fund may cause the NAV of its shares to differ significantly from the NAV that would have been calculated using market prices at the close of the exchange on which a portfolio security is primarily traded but before the close of the Exchange. There can be no assurance that the Fund could obtain the fair value assigned to a security if the Fund were to sell the security at approximately the time at which the Fund determines its NAV.
	Debt securities (other than short-term obligations and senior floating rate interests) held by the Fund are valued on the basis of valuations furnished by an independent pricing service which determines valuations for normal institutional size trading units of debt securities. Senior floating rate interests generally trade in over-the-counter markets and are priced through an independent pricing service utilizing independent market quotations from loan dealers or financial institutions. Securities for which prices are not available from an independent pricing service are valued using market quotations obtained from one or more dealers that make markets in the securities in accordance with procedures established by the Fund’s Board of Directors. Generally, the Fund may use fair valuation in regard to debt securities when the Fund holds defaulted or distressed securities or securities in a company in which a reorganization is pending. Short-term investments with a maturity of more than 60 days when purchased are valued based on market quotations until the remaining days to maturity become less than 61 days. Investments that mature in 60 days or less are valued at amortized cost, which approximates market value.
	Exchange traded equity securities shall be valued at the last reported sale price on the exchange or market on which the security is primarily traded (the “Primary Market”) at the Valuation Time. If the security did not trade on the Primary Market, it may be valued at the Valuation Time at the last reported sale price on another exchange where it trades. The value of an equity security not traded on any exchange but traded on the Nasdaq Stock Market, Inc. (“Nasdaq”) or another over-the-counter market shall be valued at the last reported sale price or official closing price on the exchange or market on which the security is traded as of the Valuation Time. If it is not possible to determine the last reported sale price or official closing price on the relevant exchange or market at the Valuation Time, the value of the security shall be taken to be the most recent mean between bid and asked prices on such exchange or market at the Valuation Time.
	Securities of foreign issuers and non-dollar securities are translated from the local currency into U.S. dollars using prevailing exchange rates.

9

The Hartford Equity Growth Allocation Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

	Options contracts on securities, currencies, indexes, futures contracts, commodities and other instruments shall be valued at their most recent sales price at the Valuation Time on the Primary Market on which the instrument is primarily traded. If the instrument did not trade on the Primary Market, it may be valued at the most recent sales price at the Valuation Time on another exchange or market where it did trade.
	Futures contracts are valued at the most recent settlement price reported by an exchange on which, over time, they are traded most extensively. If a settlement price is not available, futures contracts will be valued at the most recent trade price as of the Valuation Time. If there were no trades, the contract shall be valued at the mean of the closing bid/ask prices as of the Valuation Time.
	Financial instruments for which prices are not available from an independent pricing service are valued using market quotations obtained from one or more dealers that make markets in securities in accordance with procedures established by the Funds’ Board of Directors.
	A forward currency contract shall be valued based on the price of the underlying currency at the prevailing interpolated exchange rate, which is a combination of the spot currency rate and the forward currency rate. Spot currency rates and forward currency rates are obtained from an independent pricing service on a daily basis not more than one hour before the Valuation Time.
	Swaps are valued based on custom valuations furnished by an independent pricing service. Swaps for which prices are not available from an independent pricing service are valued in accordance with procedures established by the Fund’s Board of Directors.
	Other derivative or contractual type instruments shall be valued using market prices if such instruments trade on an exchange or market. If such instruments do not trade on an exchange or market, such instruments shall be valued at a price at which the counterparty to such contract would repurchase the instrument. In the event that the counterparty cannot provide a price, such valuation may be determined in accordance with procedures established by the Fund’s Board of Directors.
c)	Indexed Securities — The Fund may invest in indexed securities whose values are linked to changes in interest rates, indices, or other underlying instruments. The Fund uses these securities to increase or decrease its exposure to different underlying instruments and to gain exposure to markets that might be difficult to invest in using conventional securities. Indexed securities may be more volatile than their underlying instruments, but any loss is limited to the amount of the original investment and there may be a limit to the potential appreciation of the investment. The Fund had investments in indexed securities as of April 30, 2009, as shown on the Schedule of Investments under Exchange Traded Funds.
d)	Fund Share Valuation and Dividend Distributions to Shareholders — Orders for the Fund’s shares are executed in accordance with the investment instructions of the shareholders. The NAV of the Fund’s shares is determined as of the close of each business day of the Exchange. The NAV is determined separately for each class of the Fund by dividing the Fund’s net assets attributable to that class by the number of shares of the class outstanding. Orders for the purchase of the Fund’s shares prior to the close of the Exchange on any day on which the Exchange is open for business are priced at the NAV determined as of the close of the Exchange. Orders after the close of the Exchange, or on a day on which the Exchange and/or the Fund is not open for business, are priced at the next determined NAV.
	The Fund intends to distribute substantially all of its net investment income and net realized capital gains to shareholders no less frequently than once a year. Normally, dividends from net investment income of the Fund are declared and paid annually. Dividends are paid on shares beginning on the business day after the day when the funds used to purchase the shares are collected by the transfer agent for the Fund. Unless shareholders specify otherwise, all dividends and distributions will be automatically reinvested in additional full or fractional shares of the Fund.

10

	Distributions from net investment income, realized capital gains and capital are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP with respect to character and timing. These differences include but are not limited to foreign currency gains and losses, losses deferred due to wash sales adjustments, adjustments related to Passive Foreign Investment Companies and certain derivatives, and excise tax regulations. Permanent book and federal income tax basis differences relating to shareholder distributions will result in reclassifications to certain of the Fund’s capital accounts (see Federal Income Taxes: Reclassification of Capital Accounts footnote).
e)	Use of Estimates — The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and the reported amounts of income and expenses during the period. Operating results in the future could vary from the amounts derived from management’s estimates.
f)	Financial Accounting Standards Board Financial Accounting Standards No. 157 — Effective November 1, 2008, the Fund adopted Financial Accounting Standards Board (“FASB”) Statement of Financial Accounting Standards No. 157, “Fair Value Measurements” (“FAS 157”). This standard clarifies the definition of fair value for financial reporting, establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements. Fair value is defined under FAS 157 as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Under FAS 157, a fair value measurement should reflect all of the assumptions that market participants would use in pricing the asset or liability, including assumptions about the risk inherent in a particular valuation technique, the effect of a restriction on the sale or use of an asset, and the risk of nonperformance.
	Various inputs are used in determining the value of the Fund’s investment. These inputs are summarized, per FAS 157, into three broad hierarchy levels. This hierarchy is based on whether the valuation inputs are observable or unobservable. These levels are:

• Level 1 — Quoted prices in active markets for identical securities. Level 1 includes exchange-traded instruments such as domestic equities, some foreign equities, options, futures, mutual funds, ETF’s, and rights and warrants.

• Level 2 — Observable inputs other than Level 1 prices, such as quoted prices for similar securities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the security. Level 2 includes debt securities that are traded less frequently than exchange-traded instruments and that are valued using third party pricing services and foreign equities, whose value is determined using a multi-factor regression model with inputs that are observable in the market; and money market instruments, which are carried at amortized cost.

• Level 3 — Significant unobservable inputs that are supported by little or no market activity. Level 3 includes financial instruments whose values are determined using broker quotes and require significant management judgment or estimation. This category includes broker quoted securities, long dated OTC options and securities where trading has been halted or there are certain restrictions on trading. While these securities are priced using unobservable inputs, the valuation of these securities reflects the best available data and management believes the prices are a good representation of exit price.

Individual securities within any of the above mentioned asset classes may be assigned a different hierarchical level than those presented above, as individual circumstances dictate.

FAS 157 also requires that a roll forward reconciliation be shown for all Level 3 securities from the beginning of the reporting period to the end of the reporting period. Part of this reconciliation includes transfers in and/or out of Level 3. For purposes of this reconciliation, transfers in are shown at the end of period fair value and transfers out are shown at the beginning of period fair value. During the six-month period ended April 30, 2009, the Fund held no Level 3 securities.

11

The Hartford Equity Growth Allocation Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

	FASB Staff Position No. 157-4 — In April 2009, FASB released FASB Staff Position No. 157-4, “Determining Fair Value When the Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly” (“FSP FAS 157-4”). FSP FAS 157-4 provides additional guidance on determining whether a market for a financial asset is not active and a transaction is not distressed when measuring fair value under FAS 157. The FSP also requires additional disclosure detail on debt and equity securities by major investment categories. FSP FAS 157-4 is effective for interim and annual periods ending after June 15, 2009. At this time, management is evaluating the implications of FSP FAS 157-4 and does not believe it will impact valuation but will require additional disclosure. This additional disclosure has not yet been implemented.
g)	Financial Accounting Standards Board Financial Accounting Standards No. 161 — In March 2008, the FASB released Statement of Financial Accounting Standards No. 161, “Disclosures about Derivative Instruments and Hedging Activities” (“FAS 161”). FAS 161 requires companies to disclose information detailing the objectives and strategies for using derivative instruments, the level of derivative activity entered into by the company and any credit risk-related contingent features of the agreements. The application of FAS 161 is required for fiscal years and interim periods beginning after November 15, 2008. At this time, management is evaluating the implications of FAS 161 and has not yet implemented the new disclosure standard.
h)	Indemnifications: Under the Company’s organizational documents, the Company shall indemnify its officers and directors to the full extent required or permitted under Maryland General Corporation Law and the federal securities law. In addition, the Company, on behalf of the Fund, may enter into contracts that contain a variety of indemnifications. The Company’s maximum exposure under these arrangements is unknown. However, the Company has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote.

3. Federal Income Taxes:

a)

Federal Income Taxes — For federal income tax purposes, the Fund intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code (“IRC”) by distributing substantially all of its taxable net investment income and net realized capital gains to its shareholders and otherwise complying with the requirements of regulated investment companies. The Fund has distributed substantially all of its income and capital gains in prior years and the Fund intends to distribute substantially all of its income and gains during the calendar year ending December 31, 2009. Accordingly, no provision for federal income or excise taxes has been made in the accompanying financial statements. Distributions from short-term capital gains are treated as ordinary income distributions for federal income tax purposes.

b)

The tax character of distributions paid by the Fund for the periods indicated is as follows (as adjusted for dividends payable):

	For the Year Ended		For the Year Ended
	October 31, 2008		October 31, 2007
Ordinary Income	$	9,945	$	2,242
Long-Term Capital Gains *		18,273		5,366

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

12

As of October 31, 2008, the Fund’s components of distributable earnings (deficit) on a tax basis were as follows:

	Amount
Undistributed Long-Term Capital Gain	$	1,948
Unrealized Depreciation*	$	(94,209	)
Total Accumulated Deficit	$	(92,261	)

* The differences between book-basis and tax-basis unrealized appreciation (depreciation) are attributable to the tax deferral of wash sales losses, the mark-to-market adjustment for certain derivatives in accordance with IRC Sec. 1256, the mark to market for Passive Foreign Investment Companies and basis differences in real estate investment trusts.

c)

Reclassification of Capital Accounts — In accordance with American Institute of Certified Public Accountants (AICPA) Statement of Position 93-2, Determination, Disclosure, and Financial Statement Presentation of Income, Capital Gain, and Return of Capital Distributions by Investment Companies, the Fund has recorded reclassifications in its capital accounts. These reclassifications had no impact on the NAV of the Fund. The reclassifications are a result of permanent differences between GAAP and tax accounting for such items as net operating losses that reduce distribution requirements. Adjustments are made to reflect the impact these items have on current and future distributions to shareholders. Therefore, the source of the Fund’s distributions may be shown in the accompanying Statement of Changes in Net Assets as from net investment income, from net realized gains on investments or from capital depending on the type of book and tax differences that exist. As of October 31, 2008, the Fund recorded reclassifications to increase undistributed net investment income by $11,584 and decrease accumulated net realized loss by $11,584.

d)

Financial Accounting Standards Board Interpretation No. 48 — On July 13, 2006, the FASB released FASB Interpretation No. 48 “Accounting for Uncertainty in Income Taxes” (“FIN 48”). FIN 48 provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. The Fund adopted FIN 48 for fiscal years beginning after December 15, 2006. Management has evaluated the implications of FIN 48 for all open tax years (tax years ended October 31, 2006 – 2008) and has determined there is no impact to the Fund’s financial statements.

4. Expenses:

a)

Investment Management Agreements — Hartford Investment Financial Services, LLC (“HIFSCO”) serves as investment manager to the Fund pursuant to an Investment Management Agreement with The Hartford Mutual Funds, Inc. As investment manager, HIFSCO has overall investment supervisory responsibility for the Fund. In addition, HIFSCO provides administrative personnel, services, equipment, facilities and office space for proper operation of the Fund. HIFSCO has contracted with Hartford Investment Management for the provision of day-to-day investment management services to the Fund in accordance with the Fund’s investment objective and policies. The Fund pays a fee to HIFSCO, a portion of which may be used to compensate Hartford Investment Management.

The schedule below reflects the rates of compensation paid to HIFSCO for investment management services rendered during the six-month period ended April 30, 2009; the rates are accrued daily and paid monthly:

Average Daily Net Assets	Annual Fee
On first $500 million		0.15	%
On next $4.5 billion		0.10	%
On next $5 billion		0.08	%
Over $10 billion		0.07	%

13

The Hartford Equity Growth Allocation Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

b) Accounting Services Agreement — Pursuant to the Fund Accounting Agreement between Hartford Life Insurance Company (“HLIC”) and the Fund, HLIC provides accounting services to the Fund and receives monthly compensation on the Fund’s average net assets. The Fund’s accounting service fees are accrued daily and paid monthly.

Fund Name

Average Daily Net Assets	Annual Fee
On first $5 billion		0.012	%
Over $5 billion		0.010	%

c) Operating Expenses — Allocable expenses incurred by the Company are allocated to each Fund and allocated to classes within the Fund in proportion to the average daily net assets of the Fund and each class, except where allocation of certain expenses is more fairly made directly to the Fund or to specific classes within a Fund. During the six-month period ended April 30, 2009, HIFSCO has contractually limited the total operating expenses of this Fund, exclusive of taxes, interest expense, brokerage commissions, certain distribution expenses and extraordinary expenses as follows:

Class A	Class B			Class C			Class I			Class R3			Class R4			Class R5
1.60%		2.35	%		2.35	%		1.35	%		1.85	%		1.55	%		1.25	%

	Voluntary limitations for total operating expenses include expenses incurred as the result of investing in other investment companies. Amounts incurred which exceed the above limits are deducted from expenses and are reported as waivers on the accompanying Statement of Operations.
d)	Distribution and Service Plan for Class A, B, C, R3 and R4 Shares — HIFSCO is the principal underwriter and distributor of the Fund. HIFSCO is engaged in distribution activities, which include marketing and distribution of shares through broker-dealers, financing distribution costs and maintaining financial books and records. For the six-month period ended April 30, 2009, HIFSCO received front-end load sales charges of $344 and contingent deferred sales charges of $54 from the Fund.
	The Fund has adopted Distribution and Service Plans in accordance with Rule 12b-1 of the Investment Company Act of 1940, as amended, to compensate the distributor (HIFSCO) for activities intended to result in the sale and distribution of Classes A, B, C, R3 and R4 shares and for providing services for shareholders. The Rule 12b-1 plan applicable to Class A shares of the Funds provides for payment of a Rule 12b-1 fee of up to 0.35% of average daily net assets; however, the Board of Directors has currently authorized 12b-1 payments of only up to 0.25%. Some or all of the fee may be used for shareholder servicing expenses with the remainder used for distribution expenses. Some or the entire Rule 12b-1 fee for Class B shares may be remitted to broker-dealers for distribution and/or shareholder account services. Under the Class B Plan, the Fund pays the distributor 1.00% of the average daily net assets of Class B shares that are outstanding for 8 years or less, 0.25% of which is a fee for services provided to existing shareholders with the remainder used for distribution expenses. After eight years, Class B shares convert to Class A shares. Upon conversion to Class A shares, the Class A plan described above will apply to those shares. Under the Class C Plan, the Fund pays the distributor 1.00% of the average daily net assets of Class C shares outstanding, 0.25% of which is intended as a fee for services provided to existing shareholders with the remainder used for distribution expenses. For Class C shares, some or the entire fee may be remitted to broker-dealers for distribution and/or shareholder account services. Class R3 shares have a distribution fee of 0.50% and Class R4 shares have a distribution fee of 0.25%. For Classes R3 and R4 shares, some or the entire fee may be remitted to broker dealers for distribution and/or shareholder account services. The Fund’s 12b-1 fees are accrued daily and paid monthly.

14

For the six-month period ended April 30, 2009, total sales commissions paid to affiliated brokers/dealers of The Hartford for distributing the Fund’s shares were $29. These commissions are in turn paid to sales representatives of the broker/dealers.

e)

Other Related Party Transactions — Certain officers of the Fund are directors and/or officers of HIFSCO and/or The Hartford or its subsidiaries. For the six-month period ended April 30, 2009, a portion of the Fund’s chief compliance officer’s salary was paid by the Fund in an amount, which rounds to zero. Hartford Administrative Services Company (“HASCO”), an indirect wholly owned subsidiary of The Hartford, provides transfer agent services to the Fund. HASCO was compensated $274 for providing such services. These fees are accrued daily and paid monthly.

5. Investment Transactions:

For the six-month period ended April 30, 2009, the Fund’s aggregate purchases and sales of investment securities (excluding short-term investments) were as follows:

	Amount
Cost of Purchases Excluding U.S. Government Obligations	$	46,812
Sales Proceeds Excluding U.S. Government Obligations		41,510

6. Capital Share Transactions:

The following information is for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	For the Six-Month Period Ended April 30, 2009												For the Year Ended October 31, 2008
			Shares					Shares							Shares					Shares
			Issued for					Issued		Net Increase					Issued for					Issued		Net Increase
	Shares		Reinvested		Shares			from		(Decrease) of			Shares		Reinvested		Shares			from		(Decrease) of
	Sold		Dividends		Redeemed			Merger		Shares			Sold		Dividends		Redeemed			Merger		Shares
Class A
Shares		2,044		291		(1,979	)		—		356			3,894		1,191		(2,598	)		—		2,487
Amount	$	14,844	$	2,116	$	(13,982	)	$	—	$	2,978		$	47,768	$	16,355	$	(29,990	)	$	—	$	34,133
Class B
Shares		238		39		(401	)		—		(124	)		629		301		(571	)		—		359
Amount	$	1,715	$	275	$	(2,813	)	$	—	$	(823	)	$	7,627	$	4,107	$	(6,585	)	$	—	$	5,149
Class C
Shares		2,430		78		(2,366	)		—		142			1,479		432		(1,200	)		—		711
Amount	$	17,824	$	556	$	(16,495	)	$	—	$	1,885		$	17,894	$	5,883	$	(14,044	)	$	—	$	9,733
Class I
Shares		2,643		43		(2,671	)		—		15			82		—		(6	)		—		76
Amount	$	19,120	$	312	$	(20,565	)	$	—	$	(1,133	)	$	942	$	8	$	(49	)	$	—	$	901
Class R3
Shares		10		1		(10	)		—		1			29		7		(12	)		—		24
Amount	$	72	$	12	$	(70	)	$	—	$	14		$	341	$	88	$	(146	)	$	—	$	283
Class R4
Shares		209		8		(58	)		—		159			302		7		(49	)		—		260
Amount	$	1,560	$	58	$	(394	)	$	—	$	1,224		$	3,761	$	87	$	(542	)	$	—	$	3,306
Class R5
Shares		399		9		(61	)		—		347			196		1		(18	)		—		179
Amount	$	2,937	$	66	$	(411	)	$	—	$	2,592		$	2,367	$	8	$	(165	)	$	—	$	2,210

The following reflects the conversion of Class B Shares into Class A Shares (reflected as Class A Shares issued and Class B shares redeemed) for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	Shares		Dollars
For the Six-Month Period Ended April 30, 2009		21	$	149
For the Year Ended October 31, 2008		32	$	385

15

The Hartford Equity Growth Allocation Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

7. Line of Credit:

The Fund is one of several Hartford Funds that participate in a $500 million committed revolving line of credit facility. The facility is to be used for temporary or emergency purposes. Under the arrangement, the Fund is required to own securities having a market value in excess of 300% of the total bank borrowings. The interest rate on borrowings varies depending on the nature of the loan. The facility also requires a fee to be paid based on the amount of the commitment. During the six-month period ended April 30, 2009, the Fund did not have any borrowings under this facility.

16

The Hartford Equity Growth Allocation Fund

Financial Highlights — (Unaudited)

	— Selected Per-Share Data — (a)																																— Ratios and Supplemental Data —
																																			Ratio of			Ratio of			Ratio of
																																			Expenses			Expenses			Expenses
																																			to Average			to Average			to Average
																																			Net Assets			Net Assets			Net Assets
																																			Before			After			After
								Net																											Waivers			Waivers			Waivers
								Realized																											and			and			and
								and Un-									Distrib-								Net										Reimburse-			Reimburse-			Reimburse-			Ratio of
			Net			Pay-		realized						Dividends			utions								Increase			Net					Net		ments and			ments and			ments and			Net Invest-			Port-
	Net Asset		Invest-			ments		Gain						from Net			from			Distri-					(Decrease)			Asset					Assets at		Including			Including			Excluding			ment			folio
	Value at		ment			from		(Loss) on			Total from			Invest-			Realized			butions		Total			in Net			Value at					End of		Expenses			Expenses			Expenses			Income to			Turn-
	Beginning		Income			(to)		Invest-			Investment			ment			Capital			from		Distri-			Asset			End of		Total			Period		not Subject			not Subject			not Subject			Average			over
Class	of Period		(Loss)			Affiliate		ments			Operations			Income			Gains			Capital		butions			Value			Period		Return(b)			(000’s)		to Cap(c)			to Cap(c)			to Cap(c)			Net Assets			Rate(d)
For the Six-Month Period Ended April 30, 2009 (Unaudited) (e)
A	$	8.29	$	0.09		$	—	$	(0.54	)	$	(0.45	)	$	(0.08	)	$	(0.08	)	$	—	$	(0.16	)	$	(0.61	)	$	7.68		(5.37	)%(f)	$	107,430		0.84	%(g)		0.68	%(g)		0.68	%(g)		2.41	%(g)		23	%
B		8.19		0.06			—		(0.53	)		(0.47	)		—			(0.08	)		—		(0.08	)		(0.55	)		7.64		(5.62	) (f)		25,463		1.75	(g)		1.27	(g)		1.27	(g)		1.81	(g)		—
C		8.19		0.08			—		(0.56	)		(0.48	)		(0.02	)		(0.08	)		—		(0.10	)		(0.58	)		7.61		(5.73	) (f)		43,085		1.57	(g)		1.46	(g)		1.46	(g)		2.13	(g)		—
I		8.31		0.58			—		(1.02	)		(0.44	)		(0.12	)		(0.08	)		—		(0.20	)		(0.64	)		7.67		(5.13	) (f)		726		0.27	(g)		0.27	(g)		0.27	(g)		11.39	(g)		—
R3		8.25		0.08			—		(0.54	)		(0.46	)		(0.06	)		(0.08	)		—		(0.14	)		(0.60	)		7.65		(5.46	) (f)		661		0.98	(g)		0.96	(g)		0.96	(g)		2.09	(g)		—
R4		8.27		0.08			—		(0.54	)		(0.46	)		(0.09	)		(0.08	)		—		(0.17	)		(0.63	)		7.64		(5.40	) (f)		3,422		0.67	(g)		0.66	(g)		0.66	(g)		2.07	(g)		—
R5		8.31		0.10			—		(0.54	)		(0.44	)		(0.12	)		(0.08	)		—		(0.20	)		(0.64	)		7.67		(5.17	) (f)		4,073		0.37	(g)		0.36	(g)		0.36	(g)		2.74	(g)		—
For the Year Ended October 31, 2008 (e)
A		15.55		0.01			—		(5.82	)		(5.81	)		(0.55	)		(0.90	)		—		(1.45	)		(7.26	)		8.29		(40.92	)		113,006		0.69			0.68			0.68			0.05			10
B		15.40		(0.09	)		—		(5.76	)		(5.85	)		(0.46	)		(0.90	)		—		(1.36	)		(7.21	)		8.19		(41.40	)		28,322		1.52			1.49			1.49			(0.72	)		—
C		15.39		(0.08	)		—		(5.76	)		(5.84	)		(0.46	)		(0.90	)		—		(1.36	)		(7.20	)		8.19		(41.35	)		45,209		1.43			1.43			1.43			(0.66	)		—
I		15.59		(0.03	)		—		(5.75	)		(5.78	)		(0.60	)		(0.90	)		—		(1.50	)		(7.28	)		8.31		(40.73	)		668		0.30			0.30			0.30			(0.29	)		—
R3		15.52		(0.02	)		—		(5.80	)		(5.82	)		(0.55	)		(0.90	)		—		(1.45	)		(7.27	)		8.25		(41.10	)		699		0.95			0.95			0.95			(0.13	)		—
R4		15.56		(0.05	)		—		(5.75	)		(5.79	)		(0.60	)		(0.90	)		—		(1.50	)		(7.29	)		8.27		(40.92	)		2,389		0.64			0.64			0.64			(0.40	)		—
R5		15.60		(0.03	)		—		(5.76	)		(5.79	)		(0.60	)		(0.90	)		—		(1.50	)		(7.29	)		8.31		(40.78	)		1,526		0.34			0.34			0.34			(0.26	)		—
For the Year Ended October 31, 2007
A		13.21		0.03			—		2.83			2.86			(0.24	)		(0.28	)		—		(0.52	)		2.34			15.55		22.39			173,379		0.69			0.69			0.69			(0.06	)		37
B		13.10		(0.07	)		—		2.81			2.74			(0.16	)		(0.28	)		—		(0.44	)		2.30			15.40		21.58			47,743		1.52			1.37			1.37			(0.72	)		—
C		13.10		(0.07	)		—		2.80			2.73			(0.16	)		(0.28	)		—		(0.44	)		2.29			15.39		21.50			74,047		1.42			1.37			1.37			(0.72	)		—
I		13.22		0.19			—		2.71			2.90			(0.25	)		(0.28	)		—		(0.53	)		2.37			15.59		22.75			64		0.39			0.37			0.37			(0.15	)		—
R3(h)		13.24		(0.05	)		—		2.33			2.28			—			—			—		—			2.28			15.52		17.22	(f)		952		0.97	(g)		0.96	(g)		0.96	(g)		(0.91	) (g)		—
R4(i)		13.24		(0.02	)		—		2.34			2.32			—			—			—		—			2.32			15.56		17.52	(f)		456		0.71	(g)		0.69	(g)		0.69	(g)		(0.64	) (g)		—
R5(j)		13.24		(0.01	)		—		2.37			2.36			—			—			—		—			2.36			15.60		17.82	(f)		77		0.42	(g)		0.38	(g)		0.38	(g)		(0.33	) (g)		—
For the Year Ended October 31, 2006
A		11.46		0.02			—		1.83			1.85			(0.09	)		(0.01	)		—		(0.10	)		1.75			13.21		16.18			116,198		0.79			0.72			0.72			(0.34	)		14
B		11.37		(0.12	)		—		1.88			1.76			(0.02	)		(0.01	)		—		(0.03	)		1.73			13.10		15.43			33,295		1.62			1.37			1.37			(0.93	)		—
C		11.37		(0.12	)		—		1.88			1.76			(0.02	)		(0.01	)		—		(0.03	)		1.73			13.10		15.43			51,936		1.51			1.37			1.37			(0.92	)		—
I(k)		12.59		(0.01	)		—		0.64			0.63			—			—			—		—			0.63			13.22		5.00	(f)		11		0.71	(g)		0.48	(g)		0.48	(g)		(0.45	) (g)		—
For the Year Ended October 31, 2005
A		10.38		(0.02	)		—		1.12			1.10			(0.02	)		—			—		(0.02	)		1.08			11.46		10.60			58,087		0.85			0.68			0.68			(0.43	)		9
B		10.35		(0.08	)		—		1.10			1.02			—			—			—		—			1.02			11.37		9.88			20,155		1.64			1.33			1.33			(1.08	)		—
C		10.35		(0.07	)		—		1.09			1.02			—			—			—		—			1.02			11.37		9.88			32,718		1.53			1.34			1.34			(1.08	)		—
From (commencement of operations) May 28, 2004, through October 31, 2004
A(l)		10.00		(0.01	)		—		0.39			0.38			—			—			—		—			0.38			10.38		3.80	(f)		12,415		0.86	(g)		0.67	(g)		0.67	(g)		(0.58	) (g)		3
B(m)		10.00		(0.02	)		—		0.37			0.35			—			—			—		—			0.35			10.35		3.50	(f)		4,532		1.69	(g)		1.32	(g)		1.32	(g)		(1.23	) (g)		—
C(n)		10.00		(0.02	)		—		0.37			0.35			—			—			—		—			0.35			10.35		3.50	(f)		5,424		1.59	(g)		1.32	(g)		1.32	(g)		(1.23	) (g)		—

(a)	Information presented relates to a share outstanding throughout the indicated period.
(b)	Assumes initial investment at net asset value at the beginning of each period, reinvestment of all distributions, the complete redemption of the investment at net asset value at the end of each period and no sales charge. Total return would be reduced if sales charges were taken into account.
(c)	Expense ratios do not include expenses of the Underlying Funds.
(d)	Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between the classes of shares issued.
(e)	Per share amounts have been calculated using average shares outstanding method.
(f)	Not annualized.
(g)	Annualized.
(h)	Commenced operations on December 22, 2006.
(i)	Commenced operations on December 22, 2006.
(j)	Commenced operations on December 22, 2006.
(k)	Commenced operations on August 31, 2006.
(l)	Commenced operations on May 28, 2004.
(m)	Commenced operations on May 28, 2004.
(n)	Commenced operations on May 28, 2004.

17

The Hartford Equity Growth Allocation Fund

Directors and Officers (Unaudited)

The Board of Directors appoints officers who are responsible for the day-to-day operations of the Fund and who execute policies formulated by the Directors. Each director serves until his or her death, resignation, or retirement or until the next annual meeting of shareholders is held or until his or her successor is elected and qualifies.

Directors and officers who are employed by or who have a financial interest in The Hartford are considered “interested” persons of the Fund pursuant to the Investment Company Act of 1940, as amended. Each officer and three of the Fund’s directors, as noted in the chart below, are “interested” persons of the Fund. Each director serves as a director for The Hartford Mutual Funds, Inc., The Hartford Mutual Funds II, Inc., The Hartford Income Shares Fund, Inc., Hartford Series Fund, Inc., and Hartford HLS Series Fund II, Inc., which collectively consist of 100 funds. Correspondence may be sent to directors and officers c/o Hartford Mutual Funds, P.O. Box 2999, Hartford, Connecticut 06104-2999, except that correspondence to Ms. Fagely may be sent to 500 Bielenberg Drive, Woodbury, Minnesota 55125.

The table below sets forth, for each director and officer, his or her name, year of birth, current position with the Fund and date first elected or appointed to The Hartford Mutual Funds, Inc. (“MF”) and The Hartford Mutual Funds II, Inc. (“MF2”), principal occupation, and, for directors, other directorships held. The Fund’s statement of additional information contains further information on the directors and is available free of charge by calling 1-888-843-7824 or writing to Hartford Mutual Funds, P.O. Box 64387, St. Paul, MN 55164-0387.

Information on the aggregate remuneration paid to the directors of the Fund can be found in the Statement of Operations herein. The Fund pays a portion of the Chief Compliance Officer’s compensation, but does not pay salaries or compensation to any of its officers or directors who are employed by The Hartford.

Non-Interested Directors

Lynn S. Birdsong (1946) Director since 2003, Co-Chairman of the Investment Committee

Mr. Birdsong is a private investor. Since 1981, Mr. Birdsong has been a partner in Birdsong Company, an advertising specialty firm. Since 2003, Mr. Birdsong has been an independent director of The Japan Fund. From 2003 to March 2005, Mr. Birdsong was an independent director of the Atlantic Whitehall Funds. From 1979 to 2002, Mr. Birdsong was a managing director of Zurich Scudder Investments, an investment management firm. During his employment with Scudder, Mr. Birdsong was an interested director of The Japan Fund.

Robert M. Gavin, Jr. (1940) Director since 2002 (MF) and 1986 (MF2), Chairman of the Board since 2004

Dr. Gavin is an educational consultant. Prior to September 1, 2001, he was President of Cranbrook Education Community and prior to July 1996, he was President of Macalester College, St. Paul, Minnesota.

Duane E. Hill (1945) Director since 2001 (MF) and 2002 (MF2), Chairman of the Nominating Committee

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

Sandra S. Jaffee (1941) Director since 2005

Ms. Jaffee is Chairman and Chief Executive Officer of Fortent (formerly Searchspace Group), a leading provider of compliance/regulatory technology to financial institutions. Ms. Jaffee served as an Entrepreneur in Residence with Warburg Pincus, a private equity firm, from August 2004 to August 2005. From September 1995 to July 2004, Ms. Jaffee served as Executive Vice President at Citigroup, where she was President and Chief Executive Officer of Citibank’s Global Securities Services (1995–2003).

William P. Johnston (1944) Director since 2005, Chairman of the Compliance Committee

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

18

Phillip O. Peterson (1944) Director since 2002 (MF) and 2000 (MF2), Chairman of the Audit Committee

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

Lemma W. Senbet (1946) Director since 2005

Dr. Senbet is the William E. Mayer Chair Professor of Finance at the University of Maryland, Robert H. Smith School of Business. He was chair of the Finance Department during 1998–2006. Previously he was an endowed professor of finance at the University of Wisconsin-Madison. Also, he was director of the Fortis Funds from March 2000-July 2002. Dr. Senbet served the finance profession in various capacities, including as director of the American Finance Association and President of the Western Finance Association. In 2006, Dr. Senbet was inducted Fellow of Financial Management Association International for his career-long distinguished scholarship and professional service.

Interested Directors and Officers

Thomas M. Marra* (1958) Director since 2002

Mr. Marra has served as President and Chief Operating Officer of The Hartford Financial Services Group, Inc. (“The Hartford”) since 2007. Mr. Marra currently serves as Director of Hartford Life, Inc. (“HL, Inc.”). Mr. Marra served as Chief Operating Officer of Hartford Life Insurance Company, Inc. (“Hartford Life”) (2000–2008), as President of Hartford Life (2002–2008) and as Director of Hartford Life’s Investment Products Division from 1998 to 2000.

*      On February 24, 2009, The Hartford and Mr. Marra determined to enter into a mutually agreed separation whereby Mr. Marra will retire, and his role as an executive officer and employee of The Hartford will terminate, effective July 3, 2009. Mr. Marra will resign his position as a Director of the Fund effective June 25, 2009.

Lowndes A. Smith (1939) Director since 2002, Co-Chairman of the Investment Committee

Mr. Smith served as Vice Chairman of The Hartford from February 1997 to January 2002, as President and Chief Executive Officer of Hartford Life, Inc. from February 1997 to January 2002, and as President and Chief Operating Officer of The Hartford Life Insurance Companies from January 1989 to January 2002. Mr. Smith serves as a Director of White Mountains Insurance Group, Ltd., One Beacon Insurance, Symetra Financial and as a Managing Director of Whittington Gray Associates.

John C. Walters* (1962) Director since 2008

Mr. Walters currently serves as Chief Executive Officer, President and Director of HL, Inc. Mr. Walters previously served as President of the U.S. Wealth Management Division of Hartford Life, Inc., as Co-Chief Operating Officer of Hartford Life Insurance Company (2007–2008) and as Executive Vice President and Director of its Investment Products Division (2000–2008). Mr. Walters also serves as Chairman of the Board, Chief Executive Officer, President and Director of Hartford Life Insurance Company and as Executive Vice President of The Hartford. In addition, Mr. Walters is Manager of HL Investment Advisors, LLC (“HL Advisors”).

*      Mr. Walters previously served as President and Chief Executive Officer of the Fund (2007 – 2009).

Other Officers

Robert M. Arena, Jr. (1968) President and Chief Executive Officer since 2009 (served as Vice President of the Fund (2006 – 2009))

Mr. Arena serves as Executive Vice President of Hartford Life Insurance Company, (“Hartford Life”). Additionally, Mr. Arena is Director and Senior Vice President of Hartford Administrative Services Company, (“HASCO”), Manager, Chief Executive Officer and President of Hartford Investment Financial Services, LLC (“HIFSCO”) and HL Advisors. Prior to joining The Hartford in 2004, he was Senior Vice President in charge of Product Management for American Skandia/Prudential in the individual annuities division. Mr. Arena joined American Skandia in 1996.

Tamara L. Fagely (1958) Vice President, Treasurer and Controller since 2002 (MF) 1993 (MF2)

Ms. Fagely has been a Vice President of HASCO since 1998 and Chief Financial Officer since 2006. Currently Ms. Fagely is a Vice President of Hartford Life. She served as Assistant Vice President of Hartford Life from December 2001 through March 2005. In addition, Ms. Fagely is Controller and Chief Financial Officer of HIFSCO.

Brian Ferrell (1962) AML Compliance Officer since 2008

Mr. Ferrell has served as Assistant Vice President and AML Compliance Officer for The Hartford since 2006 and as AML Compliance Officer for HASCO and Hartford Investor Services Company, LLC (“HISC”) since 2008. Prior to joining The Hartford in 2006, Mr. Ferrell held various positions at the U.S. Department of the Treasury, (the “Treasury”), from 2001 to 2006 where he served as Chief Counsel for the Treasury’s Financial Crimes Enforcement Network, (“FinCEN”) from 2005 – 2006.

19

The Hartford Equity Growth Allocation Fund
Directors and Officers (Unaudited) — (continued)

Thomas D. Jones, III (1965) Vice President and Chief Compliance Officer since 2006

Mr. Jones serves as Chief Compliance Officer for the Hartford Mutual Funds and Vice President and Director of Securities Compliance for The Hartford. He is also Vice President of HIFSCO, HL Advisors, and Hartford Life Insurance Company. Mr. Jones joined The Hartford in 2006 from SEI Investments, where he served as Chief Compliance Officer for its mutual funds and investment advisers. Prior to joining SEI, Mr. Jones was First Vice President and Compliance Director for Merrill Lynch Investment Managers (Americas) (“MLIM”), where he worked from 1992-2004. At MLIM, Mr. Jones was responsible for the compliance oversight of various investment products, including mutual funds, wrap accounts, institutional accounts and alternative investments.

Edward P. Macdonald (1967) Vice President, Secretary and Chief Legal Officer since 2005

Mr. Macdonald serves as Assistant General Counsel and Assistant Vice President of The Hartford and Chief Legal Officer and Vice President of HIFSCO. He also serves as Vice President and Secretary of HASCO, Assistant Vice President of Hartford Life, and Chief Legal Officer, Secretary and Vice President of HL Advisors. Prior to joining The Hartford in 2005, Mr. Macdonald was Chief Counsel, Investment Management for Prudential Financial (formerly American Skandia Investment Services, Inc.). He joined Prudential in April 1999.

Vernon J. Meyer (1964) Vice President since 2006

Mr. Meyer serves as Senior Vice President of Hartford Life and as Director of its Investment Advisory Group in the Individual Markets Group segment. He also serves as Senior Vice President of HIFSCO and HL Advisors. Prior to joining The Hartford in 2004, Mr. Meyer was with MassMutual which he joined in 1987.

D. Keith Sloane (1960) Vice President since 2009

Mr. Sloane is a Senior Vice President of Hartford Life where he serves as Director of mutual fund product management for The Hartford’s mutual funds and 529 college savings businesses. Additionally, Mr. Sloane currently serves as Senior Vice President of HIFSCO, HL Advisors, and HASCO. Prior to joining The Hartford in 2007, Mr. Sloane was Director of product marketing and led the mutual fund business for Wachovia Securities (“Wachovia”) in their investment products group. Mr. Sloane joined Wachovia in 1995.

Jane Wolak (1961) Vice President since 2009

Ms. Wolak currently serves as Vice President of Hartford Life. Ms. Wolak joined Hartford Life as Vice President, Retail Product Services in May 2007. She is also Vice President of HASCO. Previously, Ms. Wolak was with Sun Life Financial where she held the position of Vice President, Service Center Operations from 2001 – 2007.

HOW TO OBTAIN A COPY OF THE FUND’S PROXY VOTING POLICIES AND VOTING RECORDS

A description of the policies and procedures that the Fund uses to determine how to vote proxies relating to portfolio securities and a record of how the Fund voted any proxies for the twelve-month period ended June 30, 2008 is available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov.

QUARTERLY PORTFOLIO HOLDINGS INFORMATION

The Fund files a complete schedule of portfolio holdings with the Commission for the first and third quarters of each fiscal year on Form N-Q. The Fund’s Forms are available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov. The Form N-Q may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330.

20

The Hartford Equity Growth Allocation Fund

Expense Example (Unaudited)

Your Fund’s Expenses

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments and contingent deferred sales charges (CDSC) (2) ongoing costs including management fees; distribution fees; and other fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the period of October 31, 2008 through April 30, 2009.

Actual Expenses

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

Hypothetical Example for Comparison Purposes

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

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads) and CDSC. Therefore, the second line 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 are equal to the Fund’s annualized expense ratios multiplied by average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

	Actual return						Hypothetical (5% return before expenses)
					Expenses paid						Expenses paid					Days in
					during the period						during the period					the		Days
	Beginning		Ending Account		October 31, 2008		Beginning		Ending Account		October 31,		Annualized			current		in the
	Account Value		Value		through		Account Value		Value		2008 through		expense			1/2		full
	October 31, 2008		April 30, 2009		April 30, 2009		October 31, 2008		April 30, 2009		April 30, 2009		ratio			year		year
Class A	$	1,000.00	$	946.26	$	3.28	$	1,000.00	$	1,021.42	$	3.40		0.68	%		181		365
Class B	$	1,000.00	$	943.76	$	6.12	$	1,000.00	$	1,018.49	$	6.35		1.27			181		365
Class C	$	1,000.00	$	942.65	$	7.03	$	1,000.00	$	1,017.55	$	7.30		1.46			181		365
Class I	$	1,000.00	$	948.66	$	1.30	$	1,000.00	$	1,023.45	$	1.35		0.27			181		365
Class R3	$	1,000.00	$	945.36	$	4.63	$	1,000.00	$	1,020.03	$	4.80		0.96			181		365
Class R4	$	1,000.00	$	945.96	$	3.18	$	1,000.00	$	1,021.52	$	3.30		0.66			181		365
Class R5	$	1,000.00	$	948.31	$	1.73	$	1,000.00	$	1,023.00	$	1.80		0.36			181		365

21

The Hartford Equity Income Fund

Table of Contents

Manager Discussions (Unaudited)	2
Financial Statements
Schedule of Investments at April 30, 2009 (Unaudited)	4
Statement of Assets and Liabilities at April 30, 2009 (Unaudited)	6
Statement of Operations for the Six Month Period Ended April 30, 2009 (Unaudited)	7
Statement of Changes in Net Assets for the Six Month Period Ended April 30, 2009 (Unaudited) and the Year Ended October 31, 2008	8
Notes to Financial Statements (Unaudited)	9
Financial Highlights (Unaudited)	18
Directors and Officers (Unaudited)	19
How to Obtain a Copy of the Fund’s Proxy Voting Policies and Proxy Voting Records (Unaudited)	21
Quarterly Portfolio Holdings Information (Unaudited)	21
Expense Example (Unaudited)	22

The Hartford Equity Income Fund

(subadvised by Wellington Management Company, LLP)

Performance Overview(1) 8/28/03 — 4/30/09
Growth of a $10,000 investment in Class A which includes Sales Charge

Russell 1000 Value Index measures the performance of those Russell 1000 Index companies with lower price-to-book ratios and lower forecasted growth values.

You cannot invest directly in an index.

The value of shares will fluctuate so that, when redeemed, shares may be worth more or less than their original cost. The chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.

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

Investment objective — Seeks a high level of current income consistent with growth of capital.

Average Annual Total Returns(2,3,4) (as of 4/30/09)

	Inception		1			5			Since
	Date		Year			Year			Inception
Equity Income A#		8/28/03		-31.66	%		-0.27	%		1.51	%
Equity Income A##		8/28/03		-35.42	%		-1.40	%		0.50	%
Equity Income B#		8/28/03		-32.10	%		-1.08	%		0.70	%
Equity Income B##		8/28/03		-35.42	%		-1.42	%		0.54	%
Equity Income C#		8/28/03		-32.15	%		-0.97	%		0.80	%
Equity Income C##		8/28/03		-32.81	%		-0.97	%		0.80	%
Equity Income I#		8/28/03		-31.44	%		-0.12	%		1.65	%
Equity Income R3#		8/28/03		-31.79	%		-0.12	%		1.69	%
Equity Income R4#		8/28/03		-31.66	%	NA				1.80	%
Equity Income R5#		8/28/03		-31.44	%		0.15	%		1.94	%
Equity Income Y#		8/28/03		-31.31	%		0.22	%		2.00	%

#	Without sales charge
##	With sales charge
NA    Not Applicable
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
(1)	Growth of a $10,000 investment in Classes B, C, I, R3, R4, R5 and Y shares will vary from results seen above due to differences in the expenses charged to these share classes.
(2)	Class I shares commenced operations on 8/31/06. Performance prior to 8/31/06 reflects Class A performance. Class R3, R4 and R5 shares commenced operations on 12/22/06. Performance prior to 12/22/06 reflects Class Y performance.
(3)	The initial investment in Class A shares reflects the maximum sales charge and Classes B and C reflect CDSC.
(4)	Total returns presented above were calculated using the Fund’s net asset value available to shareholders for sale or redemption of Fund shares on April 30, 2009, which excludes investment transactions as of this date.

Portfolio Managers
Karen H. Grimes, CFA	Ian R. Link, CFA	W. Michael Reckmeyer, III, CFA
Senior Vice President	Vice President	Senior Vice President

How did the Fund perform?

The Class A shares of The Hartford Equity Income Fund returned -11.81%, before sales charge, for the six-month period ended April 30, 2009, outperforming its benchmark, the Russell 1000 Value Index, which returned -13.27% for the same period. The Fund underperformed the -8.79% return of the average fund in the Lipper Equity Income Funds peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

Broad U.S. equity markets fell during the period, but this overall decline masks two significantly different market environments. From the beginning of November through early March stocks fell sharply, reflecting deepening economic worries and concerns over the U.S. government’s increasing involvement in the economy. From early March through the end of April stocks rallied as investors came to believe that a Depression-like scenario was less likely. Sector returns within the Russell 1000 Value diverged widely in this environment, with weakness in Financials (-29%), Industrials (-20%), and Energy (-10%) overshadowing relative strength in Information Technology (+10%), Consumer Discretionary (+4%), and Telecommunication Services (+3%).

The Fund outperformed its benchmark due to both stock selection and allocation among sectors, a fall-out of the bottom-up (i.e. stock by stock fundamental research) stock selection process.

2

Selection was particularly favorable within Industrials, Energy, and Utilities. In addition, an underweight (i.e. the Fund’s sector position was less than the benchmark position) position in Financials and an overweight (i.e. the Fund’s sector position was greater than the benchmark position) position in Information Technology helped relative (i.e. performance of the Fund as measured against the benchmark) performance.

Among the top contributors to benchmark-relative returns were Citigroup (Financials), FPL Group (Utilities), and Nordstrom (Consumer Discretionary). We did not own the downward-trending shares of Citigroup during the period, which benefited relative results as the company is a significant benchmark holding. Shares of Florida-based electricity provider FPL Group gained on strong quarterly results and reaffirmation of 2009 guidance. Nordstrom, an upscale retailer, saw its shares rise on hopes that the economic downturn may be less steep than previously expected. Top absolute (i.e. total return) contributors for the period included banking firm Goldman Sachs (Financials) and home improvement company Home Depot (Consumer Discretionary).

PNC Financial (Financials), U.S. Bancorp (Financials), and International Paper (Materials) detracted most from relative returns. Shares of financial services firm PNC Financial fell on concerns regarding the value of assets held at recently-acquired National City. A mixed earnings report and fears of a dividend cut pushed shares of banking and financial services company U.S. Bancorp lower. The rapid economic decline weighed on prices of white paper and boxes, dragging down results for global paper and packaging company International Paper. Stocks that detracted most from absolute returns included banking firms Bank of America (Financials) and Wells Fargo (Financials).

What is the outlook?

It is increasingly clear that the U.S. is in a deep recession, the recent stock market rally notwithstanding. Unemployment continues to rise, the housing market is retreating, and the consumer spending is contracting. The government is reshaping the financial playing field through actions ranging from stimulus packages to massive loans to impaired private sector companies, all taken with an eye towards thawing frozen credit markets and expanding purchasing power. These moves will help mitigate some of the negative economic pressures, and while the outlook remains uncertain, markets have begun to anticipate a recovery.

Throughout this period we have maintained our focus on investing in companies with solid balance sheets, above-market growth rates, sustainable dividend yields, and valuations at a discount to the market. Based on bottom-up stock decisions, we ended the period most overweight the Industrials, Information Technology, and Consumer Staples sectors; our largest underweights were in Health Care, Financials, and Telecommunications Services.

Diversification by Industry
as of April 30, 2009

	Percentage of
Industry	Net Assets
Banks		5.9	%
Capital Goods		8.4
Commercial & Professional Services		3.0
Consumer Durables & Apparel		2.1
Diversified Financials		6.6
Energy		15.7
Food & Staples Retailing		0.9
Food, Beverage & Tobacco		8.4
Household & Personal Products		1.8
Insurance		6.4
Materials		2.9
Pharmaceuticals, Biotechnology & Life Sciences		9.8
Real Estate		0.5
Retailing		6.7
Semiconductors & Semiconductor Equipment		2.6
Software & Services		3.1
Telecommunication Services		5.0
Transportation		0.8
Utilities		7.8
Short-Term Investments		1.0
Other Assets and Liabilities		0.6
Total		100.0	%

3

The Hartford Equity Income Fund

Schedule of Investments
April 30, 2009 (Unaudited)
(000’s Omitted)

Shares or Principal Amount			Market Value ╪
COMMON STOCK — 98.4%
		Banks — 5.9%
	184	Bank of Nova Scotia	$	5,225
	285	PNC Financial Services Group, Inc.		11,304
	164	Toronto-Dominion Bank ADR		6,461
	786	Wells Fargo & Co.		15,734
				38,724
		Capital Goods — 8.4%
	182	3M Co.		10,478
	71	Caterpillar, Inc.		2,512
	110	Deere & Co.		4,551
	153	Eaton Corp.		6,706
	832	General Electric Co.		10,526
	267	Illinois Tool Works, Inc.		8,754
	242	PACCAR, Inc.		8,562
	47	Schneider Electric S.A.		3,588
				55,677
		Commercial & Professional Services — 3.0%
	387	Republic Services, Inc.		8,135
	432	Waste Management, Inc.		11,519
				19,654
		Consumer Durables & Apparel — 2.1%
	73	Fortune Brands, Inc.		2,882
	196	Stanley Works		7,442
	53	V.F. Corp.		3,129
				13,453
		Diversified Financials — 6.6%
	250	Bank of New York Mellon Corp.		6,379
	103	Goldman Sachs Group, Inc.		13,287
	708	JP Morgan Chase & Co.		23,367
				43,033
		Energy — 15.7%
	227	BP plc ADR		9,634
	429	Chevron Corp.		28,384
	144	ConocoPhillips Holding Co.		5,898
	383	Exxon Mobil Corp.		25,529
	418	Marathon Oil Corp.		12,421
	118	Occidental Petroleum Corp.		6,625
	85	Royal Dutch Shell plc ADR		3,850
	212	Total S.A. ADR		10,556
				102,897
		Food & Staples Retailing — 0.9%
	260	Sysco Corp.		6,073
		Food, Beverage & Tobacco — 8.4%
	578	Altria Group, Inc.		9,434
	250	ConAgra Foods, Inc.		4,420
	87	Diageo plc ADR		4,182
	59	Lorillard, Inc.		3,725
	351	Nestle S.A. ADR		11,375
	159	PepsiCo, Inc.		7,902
	244	Philip Morris International, Inc.		8,825
	259	Unilever N.V. NY Shares ADR		5,120
				54,983
		Household & Personal Products — 1.8%
	245	Kimberly-Clark Corp.		12,060
		Insurance — 6.4%
	324	ACE Ltd.		14,985
	126	Aflac, Inc.		3,634
	241	Allstate Corp.		5,625
	272	Chubb Corp.		10,581
	419	Unum Group		6,847
				41,672
		Materials — 2.9%
	103	Air Products and Chemicals, Inc.		6,768
	275	E.I. DuPont de Nemours & Co.		7,686
	105	PPG Industries, Inc.		4,609
				19,063
		Pharmaceuticals, Biotechnology & Life Sciences — 9.8%
	53	Eli Lilly & Co.		1,728
	152	GlaxoSmithKline plc ADR		4,682
	349	Johnson & Johnson		18,247
	687	Merck & Co., Inc.		16,660
	1,231	Pfizer, Inc.		16,449
	145	Wyeth		6,151
				63,917
		Real Estate — 0.5%
	80	Regency Centers Corp.		2,985
		Retailing — 6.7%
	392	Genuine Parts Co.		13,302
	714	Home Depot, Inc.		18,803
	125	Nordstrom, Inc.		2,838
	171	Sherwin-Williams Co.		9,668
				44,611
		Semiconductors & Semiconductor Equipment — 2.6%
	647	Intel Corp.		10,206
	372	Texas Instruments, Inc.		6,715
				16,921
		Software & Services — 3.1%
	1,012	Microsoft Corp.		20,503
		Telecommunication Services — 5.0%
	833	AT&T, Inc.		21,354
	378	Verizon Communications, Inc.		11,461
				32,815
		Transportation — 0.8%
	141	Norfolk Southern Corp.		5,042
		Utilities — 7.8%
	240	American Electric Power Co., Inc.		6,331
	337	Dominion Resources, Inc.		10,149
	93	Entergy Corp.		6,011
	132	Exelon Corp.		6,080
	365	FPL Group, Inc.		19,646
	97	SCANA Corp.		2,944
				51,161
		Total common stock (cost $789,105)	$	645,244
		Total long-term investments (cost $789,105)	$	645,244

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

4

Shares or Principal Amount					Market Value ╪
SHORT-TERM INVESTMENTS — 1.0%
		Repurchase Agreements — 1.0%
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $1,583, collateralized by GNMA 4.50% — 6.50%, 2038 — 2039, value of $1,615)
$	1,583	0.18%, 04/30/2009			$	1,583
		BNP Paribas Securities Corp. TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $1,895, collateralized by FHLMC 4.50% — 6.50%, 2035 — 2039, FNMA 4.50% — 6.50%, 2034 - 2047, value of $1,933)
	1,895	0.17%, 04/30/2009				1,895
		Deutsche Bank Securities TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $2,647, collateralized by FHLMC 4.00% — 7.00%, 2021 — 2039, FNMA 6.00% — 7.00%, 2034 - 2038, GNMA 4.50% — 7.00%, 2024 — 2039, value of $2,700)
	2,647	0.17%, 04/30/2009				2,647
		UBS Securities, Inc. Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $9, collateralized by U.S. Treasury Bond 7.50%, 2024, value of $9)
	9	0.14%, 04/30/2009				9
		UBS Securities, Inc. TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $571, collateralized by FHLMC 8.00% — 15.00%, 2009 — 2021, FNMA 3.50% — 15.50%, 2012 — 2039, value of $582)
	571	0.16%, 04/30/2009				571
						6,705
		Total short-term investments (cost $6,705)			$	6,705
		Total investments (cost $795,810) ▲	99.4	%	$	651,949
		Other assets and liabilities	0.6	%		3,687
		Total net assets	100.0	%	$	655,636

Note:	Percentage of investments as shown is the ratio of the total market value to total net assets. Market value of investments in foreign securities represents 9.86% of total net assets at April 30, 2009.
	Foreign securities that are principally traded on certain foreign markets are adjusted daily pursuant to a third party pricing service methodology approved by the Board of Directors in order to reflect an adjustment for factors occurring after the close of the foreign market but before the close of the New York Stock Exchange.
▲	At April 30, 2009, the cost of securities for federal income tax purposes was $801,967 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	20,065
Unrealized Depreciation		(170,083	)
Net Unrealized Depreciation	$	(150,018	)

╪ See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of securities.

FAS 157 Disclosure of Investment Valuation Hierarchy Levels

Assets:
Investment in securities — Level 1	$	641,656
Investment in securities — Level 2		10,293
Total	$	651,949

5

The Hartford Equity Income Fund

Statement of Assets and Liabilities
April 30, 2009 (Unaudited)
(000’s Omitted)

Assets:
Investments in securities, at fair value (cost $795,810)	$	651,949
Cash		39
Receivables:
Investment securities sold		5,159
Fund shares sold		2,219
Dividends and interest		1,248
Other assets		117
Total assets		660,731
Liabilities:
Payables:
Investment securities purchased		3,794
Fund shares redeemed		951
Investment management fees		79
Distribution fees		33
Accrued expenses		238
Total liabilities		5,095
Net assets	$	655,636
Summary of Net Assets:
Capital stock and paid-in-capital		905,830
Accumulated undistributed net investment income		1,050
Accumulated net realized loss on investments and foreign currency transactions		(107,383	)
Unrealized depreciation of investments		(143,861	)
Net assets	$	655,636
Shares authorized		500,000
Par value	$	0.001
Class A: Net asset value per share/Maximum offering price per share	$	8.98/$9.50
Shares outstanding		59,261
Net assets	$	532,435
Class B: Net asset value per share	$	8.97
Shares outstanding		3,259
Net assets	$	29,231
Class C: Net asset value per share	$	8.97
Shares outstanding		4,531
Net assets	$	40,665
Class I: Net asset value per share	$	8.96
Shares outstanding		178
Net assets	$	1,597
Class R3: Net asset value per share	$	9.02
Shares outstanding		21
Net assets	$	192
Class R4: Net asset value per share	$	9.01
Shares outstanding		13
Net assets	$	117
Class R5: Net asset value per share	$	9.02
Shares outstanding		1
Net assets	$	7
Class Y: Net asset value per share	$	9.03
Shares outstanding		5,691
Net assets	$	51,392

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

6

The Hartford Equity Income Fund

Statement of Operations
For the Six Month Period Ended April 30, 2009 (Unaudited)
(000’s Omitted)

Investment Income:
Dividends	$	13,972
Interest		18
Securities lending		1
Less: Foreign tax withheld		(70	)
Total investment income		13,921
Expenses:
Investment management fees		2,329
Transfer agent fees		647
Distribution fees
Class A		634
Class B		141
Class C		198
Class R3		—
Class R4		—
Custodian fees		5
Accounting services		44
Registration and filing fees		67
Board of Directors’ fees		7
Audit fees		11
Other expenses		150
Total expenses (before waivers and fees paid indirectly)		4,233
Expense waivers		(141	)
Transfer agent fee waivers		(14	)
Commission recapture		(16	)
Custodian fee offset		—
Total waivers and fees paid indirectly		(171	)
Total expenses, net		4,062
Net investment income		9,859
Net Realized Loss on Investments and Foreign Currency Transactions:
Net realized loss on investments in securities		(93,575	)
Net realized loss on foreign currency transactions		(22	)
Net Realized Loss on Investments and Foreign Currency Transactions		(93,597	)
Net Changes in Unrealized Depreciation of Investments and Foreign Currency Transactions:
Net unrealized depreciation of investments		(2,691	)
Net unrealized appreciation on translation of other assets and liabilities in foreign currencies		11
Net Changes in Unrealized Depreciation of Investments and Foreign Currency Transactions		(2,680	)
Net Loss on Investments and Foreign Currency Transactions		(96,277	)
Net Decrease in Net Assets Resulting from Operations	$	(86,418	)

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

7

The Hartford Equity Income Fund

Statement of Changes in Net Assets

(000’s Omitted)

	For the Six-Month
	Period Ended			For the
	April 30, 2009			Year Ended
	(Unaudited)			October 31, 2008
Operations:
Net investment income	$	9,859		$	22,434
Net realized loss on investments and foreign currency transactions		(93,597	)		(13,793	)
Net unrealized depreciation of investments and foreign currency transactions		(2,680	)		(301,519	)
Net decrease in net assets resulting from operations		(86,418	)		(292,878	)
Distributions to Shareholders:
From net investment income
Class A		(8,520	)		(17,009	)
Class B		(364	)		(667	)
Class C		(521	)		(972	)
Class I		(25	)		(26	)
Class R3		(1	)		(2	)
Class R4		—			—
Class R5		—			—
Class Y		(989	)		(3,366	)
From net realized gain on investments
Class A		—			(19,859	)
Class B		—			(1,368	)
Class C		—			(1,893	)
Class I		—			(24	)
Class R3		—			(3	)
Class Y		—			(3,379	)
Total distributions		(10,420	)		(48,568	)
Capital Share Transactions:
Class A		46,098			62,259
Class B		1,532			(4,224	)
Class C		3,482			(7,425	)
Class I		409			910
Class R3		123			19
Class R4		111			—
Class R5		—			—
Class Y		(2,375	)		(22,304	)
Net increase from capital share transactions		49,380			29,235
Net decrease in net assets		(47,458	)		(312,211	)
Net Assets:
Beginning of period		703,094			1,015,305
End of period	$	655,636		$	703,094
Accumulated undistributed net investment income	$	1,050		$	1,611

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

8

The Hartford Equity Income Fund

Notes to Financial Statements
April 30, 2009 (Unaudited)
(000’s Omitted)

1.	Organization:
	The Hartford Mutual Funds, Inc. (“Company”) is an open-end management investment company comprised of fifty-two portfolios. Financial statements for The Hartford Equity Income Fund (the “Fund”), a series of the Company, are included in this report.
	The Company is organized under the laws of the State of Maryland and is registered with the Securities and Exchange Commission (“SEC”) under the Investment Company Act of 1940, as amended (“1940 Act”). The Fund is a diversified open-end management investment company.
	Class A shares are sold with a front-end sales charge of up to 5.50%. Class B shares are sold with a contingent deferred sales charge which is assessed on the lesser of the per share net asset value (“NAV”) of the shares at the time of redemption or the original purchase price, and declines from up to 5.00% to zero depending on the period of time the shares are held. Class C shares are sold with a contingent deferred sales charge of up to 1.00% on shares redeemed within twelve months of purchase. Class I shares are sold without sales charges to certain eligible investors through advisory fee-based wrap programs. Classes R3, R4, R5 shares, which are offered to employer-sponsored retirement plans, and Class Y shares, which are sold to certain eligible institutional investors, are sold without a sales charge. All classes of shares have identical voting, redemption, dividend, liquidation and other rights and the same terms and conditions, with the exceptions that each class may have different expenses, which may affect performance, and except that Class B shares automatically convert to Class A shares after 8 years.
	Effective at the close of business on September 30, 2009 (the “Close Date”), no new or additional investments will be allowed in Class B shares of The Hartford Mutual Funds (including investments through any systematic investment plan). After the Close Date, existing shareholders of Class B shares may continue to hold their Class B shares, exchange their Class B shares for Class B shares of another Hartford Mutual Fund (as permitted by existing exchange privileges), and redeem their Class B shares as described in the Fund’s prospectus. Reinstatement privileges with respect to Class B shares will continue under the current policy. If you have chosen to reinvest capital gains and dividends, any such capital gains or dividends on Class B shares will continue to be reinvested in Class B shares of the Fund. For Class B shares outstanding as of the Close Date, all Class B share attributes, including the 12b-1 fee, contingent deferred sales charge schedule, and conversion to Class A shares remain unchanged.
2.	Significant Accounting Policies:
	The following is a summary of significant accounting policies of the Fund, which are in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”).

a)	Security Transactions and Investment Income — Security transactions are recorded on the trade date (the date the order to buy or sell is executed). Security gains and losses are determined on the basis of identified cost.
	Dividend income is accrued as of the ex-dividend date, except that certain dividends for foreign securities where the ex-dividend date may have passed are recorded as soon as the Fund is informed of the dividend in the exercise of reasonable diligence. Interest income, including amortization of premium and accretion of discounts, is accrued on a daily basis.
b)	Security Valuation — The Fund generally uses market prices in valuing portfolio securities. If market prices are not readily available or are deemed unreliable, the Fund will use the fair value of the security as determined in good faith under policies and procedures established by and under the supervision of the Fund’s Board of Directors. Market prices may be deemed unreliable, for example, if a security is thinly traded or if an event has occurred after the close of the security’s primary markets, but before the close of the New York Stock Exchange (the “Exchange”) (normally 4:00 p.m. Eastern Time, referred to as the “Valuation Time”) that is expected to affect the value of the portfolio security. The circumstances in which the Fund may use fair value pricing include, among others: (i) the occurrence of events that are significant to a particular issuer, such as mergers, restructuring or defaults; (ii) the occurrence of events that are

9

The Hartford Equity Income Fund

Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

	significant to an entire market, such as natural disasters in a particular region or governmental actions; (iii) trading restrictions on securities; (iv) thinly traded securities and (v) market events such as trading halts and early market closings. In addition, with respect to the valuation of stocks primarily traded on foreign markets, the Fund uses a fair value pricing service approved by the Fund’s Board of Directors, which employs quantitative models that evaluate changes in the value of foreign market proxies (e.g., futures contracts, ADR’s, exchange traded funds (“ETF’s”)) after the close of the foreign markets but before the close of the Exchange. Securities that are primarily traded on foreign markets may trade on days that are not business days of the Fund. The value of the foreign securities in which the Fund invests may change on days when a shareholder will not be able to purchase or redeem shares of the Fund. Fair value pricing is subjective in nature and the use of fair value pricing by the Fund may cause the NAV of its shares to differ significantly from the NAV that would have been calculated using market prices at the close of the exchange on which a portfolio security is primarily traded but before the close of the Exchange. There can be no assurance that the Fund could obtain the fair value assigned to a security if the Fund were to sell the security at approximately the time at which the Fund determines its NAV.
	Securities of foreign issuers and non-dollar securities are translated from the local currency into U.S. dollars using prevailing exchange rates.
	Financial instruments for which prices are not available from an independent pricing service are valued using market quotations obtained from one or more dealers that make markets in securities in accordance with procedures established by the Fund’s Board of Directors.
	A forward currency contract shall be valued based on the price of the underlying currency at the prevailing interpolated exchange rate, which is a combination of the spot currency rate and the forward currency rate. Spot currency rates and forward currency rates are obtained from an independent pricing service on a daily basis not more than one hour before the Valuation Time.
c)	Foreign Currency Transactions — The accounting records of the Fund are maintained in U.S. dollars. All assets and liabilities initially expressed in foreign currencies are converted into U.S. dollars at the prevailing exchange rates. Purchases and sales of investment securities, dividend and interest income and certain expenses are translated at the rates of exchange prevailing on the respective dates of such transactions.
	The Fund does not isolate that portion of portfolio security valuation resulting from fluctuations in the foreign currency exchange rates on portfolio securities from the fluctuations arising from changes in the market prices of securities held. Such fluctuations are included with the net realized and unrealized gain or loss on investments in the accompanying financial statements.
	Net realized foreign exchange gains or losses arise from sales of foreign currencies and the difference between asset and liability amounts initially stated in foreign currencies and the U.S. dollar value of the amounts actually received or paid. Net unrealized foreign exchange gains or losses arise from changes in the value of other assets and liabilities at the end of the reporting period, resulting from changes in the exchange rates.
d)	Securities Lending — The Fund may lend its securities to certain qualified brokers who pay the Fund negotiated lender fees. The loans are fully collateralized at all times with cash and/or U.S. Government Securities and/or repurchase agreements. The cash collateral is then invested in short-term money market instruments. The repurchase agreements are fully collateralized by U.S. Government Securities. The adequacy of the collateral for securities on loan is monitored on a daily basis. For instances where the market value of collateral falls below the market value of the securities out on loan, such collateral is supplemented on the following business day.
	While securities are on loan, the Fund is subject to the following risks: 1) that the borrower may default on the loan and that the collateral could be inadequate in the event the borrower defaults, 2) that the earnings on the collateral invested may not be sufficient to pay fees incurred in connection with the loan, 3) that the principal value of the collateral

10

	invested may decline and may not be sufficient to pay back the borrower for the amount of the collateral posted, 4) that the borrower may use the loaned securities to cover a short sale which may place downward pressure on the market prices of the loaned securities, 5) that return of loaned securities could be delayed and could interfere with portfolio management decisions and 6) that any efforts to recall the securities for purposes of voting a proxy may not be effective. The Fund had no securities out on loan as of April 30, 2009.
e)	Joint Trading Account — Pursuant to an exemptive order issued by the SEC, the Fund may transfer uninvested cash balances into a joint trading account managed by Wellington Management Company, LLP (“Wellington”). These balances may be invested in one or more repurchase agreements and/or short-term money market instruments.
f)	Repurchase Agreements — A repurchase agreement is an agreement by which the seller of a security agrees to repurchase the security sold at a mutually agreed upon time and price. At the time the Fund enters into a repurchase agreement, the value of the underlying collateral security(ies), including accrued interest, will be equal to or exceed the value of the repurchase agreement. Securities that serve to collateralize the repurchase agreement are held by the Fund’s custodian in book entry or physical form in the custodial account of the Fund or in a third party custodial account. Repurchase agreements are valued at cost plus accrued interest. The Fund, as shown on the Schedule of Investments, had outstanding repurchase agreements as of April 30, 2009.
g)	Forward Foreign Currency Contracts — The Fund may enter into forward foreign currency contracts that obligate the Fund to repurchase/replace or sell currencies at specified future dates. Forward foreign currency contracts may be used to hedge against adverse fluctuations in exchange rates between currencies.
	Forward foreign currency contracts involve elements of market risk in excess of the amount reflected in the Statement of Assets and Liabilities. In addition, risks may arise upon entering into these contracts from the potential inability of the counterparties to meet the terms of the contracts and from unanticipated movements in the value of the foreign currencies relative to the U.S. dollar.
h)	Fund Share Valuation and Dividend Distributions to Shareholders — Orders for the Fund’s shares are executed in accordance with the investment instructions of the shareholders. The NAV of the Fund’s shares is determined as of the close of each business day of the Exchange. The NAV is determined separately for each class of the Fund by dividing the Fund’s net assets attributable to that class by the number of shares of the class outstanding. Orders for the purchase of the Fund’s shares prior to the close of the Exchange on any day on which the Exchange is open for business are priced at the NAV determined as of the close of the Exchange. Orders after the close of the Exchange, or on a day on which the Exchange and/or the Fund is not open for business, are priced at the next determined NAV.
	The Fund intends to distribute substantially all of its net investment income and net realized capital gains to shareholders no less frequently than once a year. Normally, dividends from net investment income are declared and paid quarterly. Dividends are paid on shares beginning on the business day after the day when the funds used to purchase the shares are collected by the transfer agent for the Fund. Unless shareholders specify otherwise, all dividends will be automatically reinvested in additional full or fractional shares of the Fund.
	Distributions from net investment income, realized capital gains and capital are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP with respect to character and timing. These differences include but are not limited to foreign currency gains and losses, losses deferred due to wash sales adjustments, adjustments related to Passive Foreign Investment Companies and certain derivatives, and excise tax regulations. Permanent book and federal income tax basis differences relating to shareholder distributions will result in reclassifications to certain of the Fund’s capital accounts (see Federal Income Taxes: Reclassification of Capital Accounts footnote).
i)	Use of Estimates — The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial

11

The Hartford Equity Income Fund

Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

	statements and the reported amounts of income and expenses during the period. Operating results in the future could vary from the amounts derived from management’s estimates.
j)	Financial Accounting Standards Board Financial Accounting Standards No. 157 — Effective November 1, 2008, the Fund adopted Financial Accounting Standards Board (“FASB”) Statement of Financial Accounting Standards No. 157, “Fair Value Measurements” (“FAS 157”). This standard clarifies the definition of fair value for financial reporting, establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements. Fair value is defined under FAS 157 as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Under FAS 157, a fair value measurement should reflect all of the assumptions that market participants would use in pricing the asset or liability, including assumptions about the risk inherent in a particular valuation technique, the effect of a restriction on the sale or use of an asset, and the risk of nonperformance.
	Various inputs are used in determining the value of the Fund’s investment. These inputs are summarized, per FAS 157, into three broad hierarchy levels. This hierarchy is based on whether the valuation inputs are observable or unobservable. These levels are:

• Level 1 — Quoted prices in active markets for identical securities. Level 1 includes exchange-traded instruments such as domestic equities, some foreign equities, options, futures, mutual funds, ETF’s, and rights and warrants.

• Level 2 — Observable inputs other than Level 1 prices, such as quoted prices for similar securities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the security. Level 2 includes debt securities that are traded less frequently than exchange-traded instruments and that are valued using third party pricing services and foreign equities, whose value is determined using a multi-factor regression model with inputs that are observable in the market; and money market instruments, which are carried at amortized cost.

• Level 3 — Significant unobservable inputs that are supported by little or no market activity. Level 3 includes financial instruments whose values are determined using broker quotes and require significant management judgment or estimation. This category includes broker quoted securities, long dated OTC options and securities where trading has been halted or there are certain restrictions on trading. While these securities are priced using unobservable inputs, the valuation of these securities reflects the best available data and management believes the prices are a good representation of exit price.

Individual securities within any of the above mentioned asset classes may be assigned a different hierarchical level than those presented above, as individual circumstances dictate.

FAS 157 also requires that a roll forward reconciliation be shown for all Level 3 securities from the beginning of the reporting period to the end of the reporting period. Part of this reconciliation includes transfers in and/or out of Level 3. For purposes of this reconciliation, transfers in are shown at the end of period fair value and transfers out are shown at the beginning of period fair value. During the six-month period ended April 30, 2009, the Fund held no Level 3 securities.

Refer to the valuation hierarchy levels summary found following the Schedule of Investments.

FASB Staff Position No. 157-4 — In April 2009, FASB released FASB Staff Position No. 157-4, “Determining Fair Value When the Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly” (“FSP FAS 157-4”). FSP FAS 157-4 provides additional guidance on determining whether a market for a financial asset is not active and a transaction is not distressed when measuring fair value under FAS 157. The FSP also requires additional disclosure detail on debt and equity securities by major investment categories. FSP FAS 157-4 is effective for interim and annual periods ending after June 15, 2009. At this time, management is evaluating the implications of FSP FAS 157-4 and does not believe it will impact valuation but will require additional disclosure. This additional disclosure has not yet been implemented.

12

k)

Financial Accounting Standards Board Financial Accounting Standards No. 161 — In March 2008, the FASB released Statement of Financial Accounting Standards No. 161, “Disclosures about Derivative Instruments and Hedging Activities” (“FAS 161”). FAS 161 requires companies to disclose information detailing the objectives and strategies for using derivative instruments, the level of derivative activity entered into by the company and any credit risk-related contingent features of the agreements. The application of FAS 161 is required for fiscal years and interim periods beginning after November 15, 2008. At this time, management is evaluating the implications of FAS 161 and has not yet implemented the new disclosure standard.

l)

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

3. Federal Income Taxes:

a)

Federal Income Taxes — For federal income tax purposes, the Fund intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code (“IRC”) by distributing substantially all of its taxable net investment income and net realized capital gains to its shareholders and otherwise complying with the requirements of regulated investment companies. The Fund has distributed substantially all of its income and capital gains in prior years and the Fund intends to distribute substantially all of its income and gains during the calendar year ending December 31, 2009. Accordingly, no provision for federal income or excise taxes has been made in the accompanying financial statements. Distributions from short-term capital gains are treated as ordinary income distributions for federal income tax purposes.

b)

The tax character of distributions paid by the Fund for the periods indicated is as follows (as adjusted for dividends payable):

	For the Year Ended		For the Year Ended
	October 31, 2008		October 31, 2007
Ordinary Income	$	26,921	$	17,199
Long-Term Capital Gains *		21,647		25,507

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

As of October 31, 2008, the Fund’s components of distributable earnings (deficit) on a tax basis were as follows:

	Amount
Undistributed Ordinary Income	$	1,611
Accumulated Capital Losses*	$	(7,629	)
Unrealized Depreciation†	$	(147,338	)
Total Accumulated Deficit	$	(153,356	)

*	The Fund has capital loss carryforwards that are identified in the Capital Loss Carryforward note that follows.
†	The differences between book-basis and tax-basis unrealized appreciation (depreciation) are attributable to the tax deferral of wash sales losses, the mark-to-market adjustment for certain derivatives in accordance with IRC Sec. 1256, the mark to market for Passive Foreign Investment Companies and basis differences in real estate investment trusts.

13

The Hartford Equity Income Fund

Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

c)

Reclassification of Capital Accounts — In accordance with American Institute of Certified Public Accountants (AICPA) Statement of Position 93-2, Determination, Disclosure, and Financial Statement Presentation of Income, Capital Gain, and Return of Capital Distributions by Investment Companies, the Fund has recorded reclassifications in its capital accounts. These reclassifications had no impact on the NAV of the Fund. The reclassifications are a result of permanent differences between GAAP and tax accounting for such items as net operating losses that reduce distribution requirements. Adjustments are made to reflect the impact these items have on current and future distributions to shareholders. Therefore, the source of the Fund’s distributions may be shown in the accompanying Statement of Changes in Net Assets as from net investment income, from net realized gains on investments or from capital depending on the type of book and tax differences that exist. As of October 31, 2008, the Fund recorded reclassifications to decrease undistributed net investment income by $70 and increase accumulated net realized gain by $70.

d)

Capital Loss Carryforward — At October 31, 2008 (tax-year-end), the Fund had capital loss carryforwards for U.S. federal income tax purposes of approximately:

Year	Amount
2016	$	7,629
Total	$	7,629

e) Financial Accounting Standards Board Interpretation No. 48 — On July 13, 2006, the FASB released FASB Interpretation No. 48 “Accounting for Uncertainty in Income Taxes” (“FIN 48”). FIN 48 provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. The Fund adopted FIN 48 for fiscal years beginning after December 15, 2006. Management has evaluated the implications of FIN 48 for all open tax years (tax years ended October 31, 2006 — 2008) and has determined there is no impact to the Fund’s financial statements.

4. Expenses:

a)

Investment Management Agreements — Hartford Investment Financial Services, LLC (“HIFSCO”) serves as investment manager to the Fund pursuant to an Investment Management Agreement with The Hartford Mutual Funds, Inc. As investment manager, HIFSCO has overall investment supervisory responsibility for the Fund. In addition, HIFSCO provides administrative personnel, services, equipment, facilities and office space for proper operation of the Fund. HIFSCO has contracted with Wellington for the provision of day-to-day investment management services to the Fund in accordance with the Fund’s investment objective and policies. The Fund pays a fee to HIFSCO, a portion of which may be used to compensate Wellington.

The schedule below reflects the rates of compensation paid to HIFSCO for investment management services rendered during the six-month period ended April 30, 2009; the rates are accrued daily and paid monthly:

Average Daily Net Assets	Annual Fee
On first $500 million		0.7500	%
On next $500 million		0.7000	%
On next $4 billion		0.6500	%
On next $5 billion		0.6475	%
Over $10 billion		0.6450	%

14

b) Accounting Services Agreement — Pursuant to the Fund Accounting Agreement between Hartford Life Insurance Company (“HLIC”) and the Fund, HLIC provides accounting services to the Fund and receives monthly compensation on the Fund’s average net assets. The Fund’s accounting service fees are accrued daily and paid monthly.

Average Daily Net Assets	Annual Fee
On first $5 billion		0.014	%
On next $5 billion		0.012	%
Over $10 billion		0.010	%

c) Operating Expenses — Allocable expenses incurred by the Company are allocated to each Fund and allocated to classes within the Fund in proportion to the average daily net assets of the Fund and each class, except where allocation of certain expenses is more fairly made directly to the Fund or to specific classes within a Fund. During the six-month period ended April 30, 2009, HIFSCO has contractually limited the total operating expenses of this Fund, exclusive of taxes, interest expense, brokerage commissions, certain distribution expenses and extraordinary expenses as follows:

Class A	Class B	Class C	Class I	Class R3	Class R4	Class R5	Class Y
1.25%	2.00%	2.00%	1.00%	1.60%	1.30%	1.00%	0.90%

d)

Fees Paid Indirectly — The Fund has entered into agreements with State Street Global Markets, LLC and Russell Implementation Services Inc. to partially recapture non-discounted trade commissions. Such rebates are used to pay a portion of the Fund’s expenses. In addition, the Fund’s custodian bank has also agreed to reduce its fees when the Fund maintains cash on deposit in the non-interest-bearing custody account. For the six-month period ended April 30, 2009, these amounts are included in the Statement of Operations.

The ratio of expenses to average net assets in the accompanying financial highlights excludes the reduction in expenses related to fees paid indirectly. Had the fees paid indirectly been included, the annualized expense ratio for the periods listed below would have been as follows:

	Annualized
	Six-Month
	Period			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended
	Ended April			October 31,			October 31,			October 31,			October 31,			October 31,
	30, 2009			2008			2007			2006			2005			2004
Class A Shares		1.25	%		1.14	%		1.12	%		1.00	%		0.50	%		0.56	%
Class B Shares		1.90			2.00			1.96			1.84			1.38			1.36
Class C Shares		2.00			1.87			1.83			1.70			1.22			1.19
Class I Shares		0.96			0.84			0.81			0.80	*
Class R3 Shares		1.59			1.50			1.50	†
Class R4 Shares		1.30			1.13			1.18	‡
Class R5 Shares		0.91			0.84			0.89	§
Class Y Shares		0.83			0.74			0.73			0.57			0.10			0.10

*	From August 31, 2006 (commencement of operations), through October 31, 2006
†	From December 22, 2006 (commencement of operations), through October 31, 2007
‡	From December 22, 2006 (commencement of operations), through October 31, 2007
§	From December 22, 2006 (commencement of operations), through October 31, 2007

e) Distribution and Service Plan for Class A, B, C, R3 and R4 Shares — HIFSCO is the principal underwriter and distributor of the Fund. HIFSCO is engaged in distribution activities, which include marketing and distribution of shares through broker-dealers, financing distribution costs and maintaining financial books and records. For the six-month period ended April 30, 2009, HIFSCO received front-end load sales charges of $2,025 and contingent deferred sales charges of $32 from the Fund.

15

The Hartford Equity Income Fund

Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

	The Fund has adopted Distribution and Service Plans in accordance with Rule 12b-1 of the Investment Company Act of 1940, as amended, to compensate the distributor (HIFSCO) for activities intended to result in the sale and distribution of Classes A, B, C, R3 and R4 shares and for providing services for shareholders. The Rule 12b-1 plan applicable to Class A shares of the Funds provides for payment of a Rule 12b-1 fee of up to 0.35% of average daily net assets; however, the Board of Directors has currently authorized 12b-1 payments of only up to 0.25%. Some or all of the fee may be used for shareholder servicing expenses with the remainder used for distribution expenses. Some or the entire Rule 12b-1 fee for Class B shares may be remitted to broker-dealers for distribution and/or shareholder account services. Under the Class B Plan, the Fund pays the distributor 1.00% of the average daily net assets of Class B shares that are outstanding for 8 years or less, 0.25% of which is a fee for services provided to existing shareholders with the remainder used for distribution expenses. After eight years, Class B shares convert to Class A shares. Upon conversion to Class A shares, the Class A plan described above will apply to those shares. Under the Class C Plan, the Fund pays the distributor 1.00% of the average daily net assets of Class C shares outstanding, 0.25% of which is intended as a fee for services provided to existing shareholders with the remainder used for distribution expenses. For Class C shares, some or the entire fee may be remitted to broker-dealers for distribution and/or shareholder account services. Class R3 shares have a distribution fee of 0.50% and Class R4 shares have a distribution fee of 0.25%. For Classes R3 and R4 shares, some or the entire fee may be remitted to broker dealers for distribution and/or shareholder account services. The Fund’s 12b-1 fees are accrued daily and paid monthly.
	For the six-month period ended April 30, 2009, total sales commissions paid to affiliated brokers/dealers of The Hartford for distributing the Fund’s shares were $4. These commissions are in turn paid to sales representatives of the broker/dealers.
f)	Other Related Party Transactions — Certain officers of the Fund are directors and/or officers of HIFSCO and/or The Hartford or its subsidiaries. For the six-month period ended April 30, 2009, a portion of the Fund’s chief compliance officer’s salary was paid by the Fund in the amount of $1. Hartford Administrative Services Company (“HASCO”), an indirect wholly owned subsidiary of The Hartford, provides transfer agent services to the Fund. HASCO was compensated $633 for providing such services. These fees are accrued daily and paid monthly.

5.	Affiliate Holdings:
	As of April 30, 2009, affiliates of The Hartford had ownership of shares in the Fund as follows:

	Shares
Class R4		1
Class R5		1

6.	Investment Transactions:
	For the six-month period ended April 30, 2009, the Fund’s aggregate purchases and sales of investment securities (excluding short-term investments) were as follows:

	Amount
Cost of Purchases Excluding U.S. Government Obligations	$	183,381
Sales Proceeds Excluding U.S. Government Obligations		126,920

16

7.	Capital Share Transactions:
	The following information is for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	For the Six-Month Period Ended April 30, 2009												For the Year Ended October 31, 2008
			Shares					Shares							Shares						Shares
			Issued for					Issued		Net Increase					Issued for						Issued		Net Increase
	Shares		Reinvested		Shares			from		(Decrease) of			Shares		Reinvested		Shares				from		(Decrease) of
	Sold		Dividends		Redeemed			Merger		Shares			Sold		Dividends		Redeemed				Merger		Shares
Class A
Shares		13,808		909		(9,908	)		—		4,809			11,842		2,683		(10,143	)			—		4,382
Amount	$	124,905	$	8,274	$	(87,081	)	$	—	$	46,098		$	151,313	$	36,274	$	(125,328	)		$	—	$	62,259
Class B
Shares		683		38		(569	)		—		152			428		142		(931	)			—		(361	)
Amount	$	6,117	$	349	$	(4,934	)	$	—	$	1,532		$	5,527	$	1,942	$	(11,693	)		$	—	$	(4,224	)
Class C
Shares		1,226		50		(951	)		—		325			467		188		(1,252	)			—		(597	)
Amount	$	11,252	$	457	$	(8,227	)	$	—	$	3,482		$	5,716	$	2,567	$	(15,708	)		$	—	$	(7,425	)
Class I
Shares		150		3		(115	)		—		38			93		3		(16	)			—		80
Amount	$	1,318	$	24	$	(933	)	$	—	$	409		$	1,039	$	48	$	(177	)		$	—	$	910
Class R3
Shares		13		—		—			—		13			2		—		—				—		2
Amount	$	124	$	1	$	(2	)	$	—	$	123		$	23	$	4	$	(8	)		$	—	$	19
Class R4																				��
Shares		12		—		—			—		12			—		—		—				—		—
Amount	$	111	$	—	$	—		$	—	$	111		$	—	$	—	$	—			$	—	$	—
Class R5
Shares		—		—		—			—		—			—		—		—				—		—
Amount	$	—	$	—	$	—		$	—	$	—		$	—	$	—	$	—			$	—	$	—
Class Y
Shares		209		108		(610	)		—		(293	)		794		498		(3,863	)			—		(2,571	)
Amount	$	1,806	$	989	$	(5,170	)	$	—	$	(2,375	)	$	10,513	$	6,745	$	(39,562	)		$	—	$	(22,304	)

The following reflects the conversion of Class B Shares into Class A Shares (reflected as Class A Shares issued and Class B shares redeemed) for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	Shares		Dollars
For the Six-Month Period Ended April 30, 2009		24	$	207
For the Year Ended October 31, 2008		61	$	794

8.	Line of Credit:
	The Fund is one of several Hartford Funds that participate in a $500 million committed revolving line of credit facility. The facility is to be used for temporary or emergency purposes. Under the arrangement, the Fund is required to own securities having a market value in excess of 300% of the total bank borrowings. The interest rate on borrowings varies depending on the nature of the loan. The facility also requires a fee to be paid based on the amount of the commitment. During the six-month period ended April 30, 2009, the Fund did not have any borrowings under this facility.
9.	Industry Classifications:
	Other than the industry classifications “Other Investment Pools and Funds” and “Exchange Traded Funds”, equity industry classifications used in this report are the Global Industry Classification Standard, which was developed by and is the exclusive property and service mark of MSCI, Inc. and Standard & Poor’s.

17

The Hartford Equity Income Fund

Financial Highlights — (Unaudited)

	- Selected Per-Share Data - (a)																													- Ratios and Supplemental Data -
																																		Ratio of			Ratio of			Ratio of
																																		Expenses			Expenses			Expenses
																																		to Average			to Average			to Average
																																		Net Assets			Net Assets			Net Assets
																																		Before			After			After
							Net																											Waivers			Waivers			Waivers
							Realized																											and			and			and			Ratio of
							and Un-									Distrib-								Net										Reimburse-			Reimburse-			Reimburse-			Net
			Net		Pay-		realized						Dividends			utions								Increase			Net					Net		ments and			ments and			ments and			Invest-			Port-
	Net Asset		Invest-		ments		Gain						from Net			from			Distri-					(Decrease)			Asset					Assets at		Including			Including			Excluding			ment			folio
	Value at		ment		from		(Loss) on			Total from			Invest-			Realized			butions		Total			in Net			Value at					End of		Expenses			Expenses			Expenses			Income to			Turn-
	Beginning		Income		(to)		Invest-			Investment			ment			Capital			from		Distri-			Asset			End of		Total			Period		not Subject			not Subject			not Subject			Average			over
Class	of Period		(Loss)		Affiliate		ments			Operations			Income			Gains			Capital		butions			Value			Period		Return(b)			(000’s)		to Cap(c)			to Cap(c)			to Cap(c)			Net Assets			Rate(d)
For the Six-Month Period Ended April 30, 2009 (Unaudited)
A	$	10.35	$	0.14	$	—	$	(1.36	)	$	(1.22	)	$	(0.15	)	$	—		$	—	$	(0.15	)	$	(1.37	)	$	8.98		(11.81	)%(e)	$	532,435		1.29	%(f)		1.25	%(f)		1.25	%(f)		3.16	%(f)		20	%
B		10.33		0.11		—		(1.35	)		(1.24	)		(0.12	)		—			—		(0.12	)		(1.36	)		8.97		(12.06	) (e)		29,231		2.23	(f)		1.90	(f)		1.90	(f)		2.53	(f)		—
C		10.34		0.11		—		(1.36	)		(1.25	)		(0.12	)		—			—		(0.12	)		(1.37	)		8.97		(12.14	) (e)		40,665		2.02	(f)		2.00	(f)		2.00	(f)		2.42	(f)		—
I		10.33		0.16		—		(1.37	)		(1.21	)		(0.16	)		—			—		(0.16	)		(1.37	)		8.96		(11.69	) (e)		1,597		0.96	(f)		0.96	(f)		0.96	(f)		3.46	(f)		—
R3		10.39		0.11		—		(1.35	)		(1.24	)		(0.13	)		—			—		(0.13	)		(1.37	)		9.02		(11.90	) (e)		192		1.71	(f)		1.60	(f)		1.60	(f)		2.66	(f)		—
R4		10.40		0.13		—		(1.37	)		(1.24	)		(0.15	)		—			—		(0.15	)		(1.39	)		9.01		(11.91	) (e)		117		1.43	(f)		1.30	(f)		1.30	(f)		3.26	(f)		—
R5		10.40		0.16		—		(1.37	)		(1.21	)		(0.17	)		—			—		(0.17	)		(1.38	)		9.02		(11.69	) (e)		7		0.91	(f)		0.91	(f)		0.91	(f)		3.51	(f)		—
Y		10.40		0.17		—		(1.37	)		(1.20	)		(0.17	)		—			—		(0.17	)		(1.37	)		9.03		(11.56	) (e)		51,392		0.83	(f)		0.83	(f)		0.83	(f)		3.61	(f)		—
For the Year Ended October 31, 2008
A		15.16		0.32		—		(4.42	)		(4.10	)		(0.31	)		(0.40	)		—		(0.71	)		(4.81	)		10.35		(28.08	)		563,703		1.19			1.14			1.14			2.49			53
B		15.12		0.21		—		(4.41	)		(4.20	)		(0.19	)		(0.40	)		—		(0.59	)		(4.79	)		10.33		(28.67	)		32,097		2.06			2.00			2.00			1.63			—
C		15.14		0.23		—		(4.42	)		(4.19	)		(0.21	)		(0.40	)		—		(0.61	)		(4.80	)		10.34		(28.61	)		43,493		1.92			1.87			1.87			1.76			—
I		15.12		0.35		—		(4.39	)		(4.04	)		(0.35	)		(0.40	)		—		(0.75	)		(4.79	)		10.33		(27.80	)		1,449		0.90			0.85			0.85			2.80			—
R3		15.21		0.27		—		(4.41	)		(4.14	)		(0.28	)		(0.40	)		—		(0.68	)		(4.82	)		10.39		(28.26	)		78		1.55			1.50			1.50			2.14			—
R4		15.22		0.32		—		(4.43	)		(4.11	)		(0.31	)		(0.40	)		—		(0.71	)		(4.82	)		10.40		(28.03	)		8		1.18			1.13			1.13			2.50			—
R5		15.22		0.36		—		(4.43	)		(4.07	)		(0.35	)		(0.40	)		—		(0.75	)		(4.82	)		10.40		(27.82	)		8		0.90			0.85			0.85			2.78			—
Y		15.23		0.39		—		(4.46	)		(4.07	)		(0.36	)		(0.40	)		—		(0.76	)		(4.83	)		10.40		(27.80	)		62,258		0.80			0.75			0.75			2.90			—
For the Year Ended October 31, 2007
A		14.00		0.27		—		1.69			1.96			(0.26	)		(0.54	)		—		(0.80	)		1.16			15.16		14.68			758,905		1.22			1.12			1.12			1.93			20
B		13.97		0.16		—		1.67			1.83			(0.14	)		(0.54	)		—		(0.68	)		1.15			15.12		13.69			52,424		2.07			1.97			1.97			1.09			—
C		13.99		0.18		—		1.67			1.85			(0.16	)		(0.54	)		—		(0.70	)		1.15			15.14		13.80			72,690		1.94			1.84			1.84			1.23			—
I		13.99		0.31		—		1.69			2.00			(0.33	)		(0.54	)		—		(0.87	)		1.13			15.12		14.96			907		0.92			0.82			0.82			2.18			—
R3(g)		13.97		0.17		—		1.24			1.41			(0.17	)		—			—		(0.17	)		1.24			15.21		10.11	(e)		95		1.60	(f)		1.50	(f)		1.50	(f)		1.51	(f)		—
R4(h)		13.97		0.23		—		1.22			1.45			(0.20	)		—			—		(0.20	)		1.25			15.22		10.44	(e)		11		1.28	(f)		1.18	(f)		1.18	(f)		1.84	(f)		—
R5(i)		13.97		0.27		—		1.21			1.48			(0.23	)		—			—		(0.23	)		1.25			15.22		10.67	(e)		11		0.99	(f)		0.89	(f)		0.89	(f)		2.13	(f)		—
Y		14.07		0.31		—		1.72			2.03			(0.33	)		(0.54	)		—		(0.87	)		1.16			15.23		15.12			130,262		0.83			0.73			0.73			2.30			—
For the Year Ended October 31, 2006
A		12.09		0.26		—		1.96			2.22			(0.28	)		(0.03	)		—		(0.31	)		1.91			14.00		18.70			529,664		1.30			1.00			1.00			2.02			24
B		12.07		0.16		—		1.94			2.10			(0.17	)		(0.03	)		—		(0.20	)		1.90			13.97		17.67			43,198		2.14			1.84			1.84			1.19			—
C		12.08		0.17		—		1.96			2.13			(0.19	)		(0.03	)		—		(0.22	)		1.91			13.99		17.88			61,572		2.01			1.71			1.71			1.33			—
I(j)		13.52		0.08		—		0.46			0.54			(0.07	)		—			—		(0.07	)		0.47			13.99		4.05	(e)		106		1.37	(f)		0.80	(f)		0.80	(f)		1.32	(f)		—
Y		12.15		0.30		—		1.98			2.28			(0.33	)		(0.03	)		—		(0.36	)		1.92			14.07		19.18			7,593		0.88			0.58			0.58			2.26			—
For the Year Ended October 31, 2005
A		11.28		0.27		—		0.82			1.09			(0.26	)		(0.02	)		—		(0.28	)		0.81			12.09		9.74			379,604		1.34			0.51			0.51			2.41			23
B		11.26		0.17		—		0.82			0.99			(0.16	)		(0.02	)		—		(0.18	)		0.81			12.07		8.84			33,989		2.18			1.38			1.38			1.53			—
C		11.27		0.20	��	—		0.81			1.01			(0.18	)		(0.02	)		—		(0.20	)		0.81			12.08		9.00			53,435		2.03			1.23			1.23			1.70			—
Y		11.33		0.32		—		0.83			1.15			(0.31	)		(0.02	)		—		(0.33	)		0.82			12.15		10.22			784		0.91			0.11			0.11			2.79			—
For the Year Ended October 31, 2004
A		10.37		0.21		—		0.90			1.11			(0.20	)		—			—		(0.20	)		0.91			11.28		10.82			211,826		1.40			0.56			0.56			2.26			22
B		10.36		0.13		—		0.89			1.02			(0.12	)		—			—		(0.12	)		0.90			11.26		9.93			18,438		2.20			1.37			1.37			1.46			—
C		10.36		0.15		—		0.89			1.04			(0.13	)		—			—		(0.13	)		0.91			11.27		10.12			44,043		2.02			1.19			1.19			1.64			—
Y		10.39		0.24		—		0.95			1.19			(0.25	)		—			—		(0.25	)		0.94			11.33		11.53			375		0.91			0.11			0.11			2.73			—

(a)	Information presented relates to a share outstanding throughout the indicated period.
(b)	Assumes initial investment at net asset value at the beginning of each period, reinvestment of all distributions, the complete redemption of the investment at net asset value at the end of each period and no sales charge. Total return would be reduced if sales charges were taken into account.
(c)	Ratios do not include fees paid indirectly (See Expenses in the accompanying Notes to Financial Statements).
(d)	Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between the classes of shares issued.
(e)	Not annualized.
(f)	Annualized.
(g)	Commenced operations on December 22, 2006.
(h)	Commenced operations on December 22, 2006.
(i)	Commenced operations on December 22, 2006.
(j)	Commenced operations on August 31, 2006.

18

The Hartford Equity Income Fund

Directors and Officers (Unaudited)

The Board of Directors appoints officers who are responsible for the day-to-day operations of the Fund and who execute policies formulated by the Directors. Each director serves until his or her death, resignation, or retirement or until the next annual meeting of shareholders is held or until his or her successor is elected and qualifies.

Directors and officers who are employed by or who have a financial interest in The Hartford are considered “interested” persons of the Fund pursuant to the Investment Company Act of 1940, as amended. Each officer and three of the Fund’s directors, as noted in the chart below, are “interested” persons of the Fund. Each director serves as a director for The Hartford Mutual Funds, Inc., The Hartford Mutual Funds II, Inc., The Hartford Income Shares Fund, Inc., Hartford Series Fund, Inc., and Hartford HLS Series Fund II, Inc., which collectively consist of 100 funds. Correspondence may be sent to directors and officers c/o Hartford Mutual Funds, P.O. Box 2999, Hartford, Connecticut 06104-2999, except that correspondence to Ms. Fagely may be sent to 500 Bielenberg Drive, Woodbury, Minnesota 55125.

The table below sets forth, for each director and officer, his or her name, year of birth, current position with the Fund and date first elected or appointed to The Hartford Mutual Funds, Inc. (“MF”) and The Hartford Mutual Funds II, Inc. (“MF2”), principal occupation, and, for directors, other directorships held. The Fund’s statement of additional information contains further information on the directors and is available free of charge by calling 1-888-843-7824 or writing to Hartford Mutual Funds, P.O. Box 64387, St. Paul, MN 55164-0387.

Information on the aggregate remuneration paid to the directors of the Fund can be found in the Statement of Operations herein. The Fund pays a portion of the Chief Compliance Officer’s compensation, but does not pay salaries or compensation to any of its officers or directors who are employed by The Hartford.

Non-Interested Directors

Lynn S. Birdsong (1946) Director since 2003, Co-Chairman of the Investment Committee

Mr. Birdsong is a private investor. Since 1981, Mr. Birdsong has been a partner in Birdsong Company, an advertising specialty firm. Since 2003, Mr. Birdsong has been an independent director of The Japan Fund. From 2003 to March 2005, Mr. Birdsong was an independent director of the Atlantic Whitehall Funds. From 1979 to 2002, Mr. Birdsong was a managing director of Zurich Scudder Investments, an investment management firm. During his employment with Scudder, Mr. Birdsong was an interested director of The Japan Fund.

Robert M. Gavin, Jr. (1940) Director since 2002 (MF) and 1986 (MF2), Chairman of the Board since 2004

Dr. Gavin is an educational consultant. Prior to September 1, 2001, he was President of Cranbrook Education Community and prior to July 1996, he was President of Macalester College, St. Paul, Minnesota.

Duane E. Hill (1945) Director since 2001 (MF) and 2002 (MF2), Chairman of the Nominating Committee

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

Sandra S. Jaffee (1941) Director since 2005

Ms. Jaffee is Chairman and Chief Executive Officer of Fortent (formerly Searchspace Group), a leading provider of compliance/regulatory technology to financial institutions. Ms. Jaffee served as an Entrepreneur in Residence with Warburg Pincus, a private equity firm, from August 2004 to August 2005. From September 1995 to July 2004, Ms. Jaffee served as Executive Vice President at Citigroup, where she was President and Chief Executive Officer of Citibank’s Global Securities Services (1995—2003).

William P. Johnston (1944) Director since 2005, Chairman of the Compliance Committee

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

19

The Hartford Equity Income Fund
Directors and Officers (Unaudited) — (continued)

Phillip O. Peterson (1944) Director since 2002 (MF) and 2000 (MF2), Chairman of the Audit Committee

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

Lemma W. Senbet (1946) Director since 2005

Dr. Senbet is the William E. Mayer Chair Professor of Finance at the University of Maryland, Robert H. Smith School of Business. He was chair of the Finance Department during 1998—2006. Previously he was an endowed professor of finance at the University of Wisconsin-Madison. Also, he was director of the Fortis Funds from March 2000-July 2002. Dr. Senbet served the finance profession in various capacities, including as director of the American Finance Association and President of the Western Finance Association. In 2006, Dr. Senbet was inducted Fellow of Financial Management Association International for his career-long distinguished scholarship and professional service.

Interested Directors and Officers

Thomas M. Marra* (1958) Director since 2002

Mr. Marra has served as President and Chief Operating Officer of The Hartford Financial Services Group, Inc. (“The Hartford”) since 2007. Mr. Marra currently serves as Director of Hartford Life, Inc. (“HL, Inc.”). Mr. Marra served as Chief Operating Officer of Hartford Life Insurance Company, Inc. (“Hartford Life”) (2000—2008), as President of Hartford Life (2002—2008) and as Director of Hartford Life’s Investment Products Division from 1998 to 2000.

* On February 24, 2009, The Hartford and Mr. Marra determined to enter into a mutually agreed separation whereby Mr. Marra will retire, and his role as an executive officer and employee of The Hartford will terminate, effective July 3, 2009. Mr. Marra will resign his position as a Director of the Fund effective June 25, 2009.

Lowndes A. Smith (1939) Director since 2002, Co-Chairman of the Investment Committee

Mr. Smith served as Vice Chairman of The Hartford from February 1997 to January 2002, as President and Chief Executive Officer of Hartford Life, Inc. from February 1997 to January 2002, and as President and Chief Operating Officer of The Hartford Life Insurance Companies from January 1989 to January 2002. Mr. Smith serves as a Director of White Mountains Insurance Group, Ltd., One Beacon Insurance, Symetra Financial and as a Managing Director of Whittington Gray Associates.

John C. Walters* (1962) Director since 2008

Mr. Walters currently serves as Chief Executive Officer, President and Director of HL, Inc. Mr. Walters previously served as President of the U.S. Wealth Management Division of Hartford Life, Inc., as Co-Chief Operating Officer of Hartford Life Insurance Company (2007—2008) and as Executive Vice President and Director of its Investment Products Division (2000—2008). Mr. Walters also serves as Chairman of the Board, Chief Executive Officer, President and Director of Hartford Life Insurance Company and as Executive Vice President of The Hartford. In addition, Mr. Walters is Manager of HL Investment Advisors, LLC (“HL Advisors”).

* Mr. Walters previously served as President and Chief Executive Officer of the Fund (2007 — 2009).

Other Officers

Robert M. Arena, Jr. (1968) President and Chief Executive Officer since 2009 (served as Vice President of the Fund (2006 — 2009))

Mr. Arena serves as Executive Vice President of Hartford Life Insurance Company, (“Hartford Life”). Additionally, Mr. Arena is Director and Senior Vice President of Hartford Administrative Services Company, (“HASCO”), Manager, Chief Executive Officer and President of Hartford Investment Financial Services, LLC (“HIFSCO”) and HL Advisors. Prior to joining The Hartford in 2004, he was Senior Vice President in charge of Product Management for American Skandia/Prudential in the individual annuities division. Mr. Arena joined American Skandia in 1996.

Tamara L. Fagely (1958) Vice President, Treasurer and Controller since 2002 (MF) 1993 (MF2)

Ms. Fagely has been a Vice President of HASCO since 1998 and Chief Financial Officer since 2006. Currently Ms. Fagely is a Vice President of Hartford Life. She served as Assistant Vice President of Hartford Life from December 2001 through March 2005. In addition, Ms. Fagely is Controller and Chief Financial Officer of HIFSCO.

Brian Ferrell (1962) AML Compliance Officer since 2008

Mr. Ferrell has served as Assistant Vice President and AML Compliance Officer for The Hartford since 2006 and as AML Compliance Officer for HASCO and Hartford Investor Services Company, LLC (“HISC”) since 2008. Prior to joining The Hartford in 2006, Mr. Ferrell held various positions at the U.S. Department of the Treasury, (the “Treasury”), from 2001 to 2006 where he served as Chief Counsel for the Treasury’s Financial Crimes Enforcement Network, (“FinCEN”) from 2005 — 2006.

20

Thomas D. Jones, III (1965) Vice President and Chief Compliance Officer since 2006

Mr. Jones serves as Chief Compliance Officer for the Hartford Mutual Funds and Vice President and Director of Securities Compliance for The Hartford. He is also Vice President of HIFSCO, HL Advisors, and Hartford Life Insurance Company. Mr. Jones joined The Hartford in 2006 from SEI Investments, where he served as Chief Compliance Officer for its mutual funds and investment advisers. Prior to joining SEI, Mr. Jones was First Vice President and Compliance Director for Merrill Lynch Investment Managers (Americas) (“MLIM”), where he worked from 1992-2004. At MLIM, Mr. Jones was responsible for the compliance oversight of various investment products, including mutual funds, wrap accounts, institutional accounts and alternative investments.

Edward P. Macdonald (1967) Vice President, Secretary and Chief Legal Officer since 2005

Mr. Macdonald serves as Assistant General Counsel and Assistant Vice President of The Hartford and Chief Legal Officer and Vice President of HIFSCO. He also serves as Vice President and Secretary of HASCO, Assistant Vice President of Hartford Life, and Chief Legal Officer, Secretary and Vice President of HL Advisors. Prior to joining The Hartford in 2005, Mr. Macdonald was Chief Counsel, Investment Management for Prudential Financial (formerly American Skandia Investment Services, Inc.). He joined Prudential in April 1999.

Vernon J. Meyer (1964) Vice President since 2006

Mr. Meyer serves as Senior Vice President of Hartford Life and as Director of its Investment Advisory Group in the Individual Markets Group segment. He also serves as Senior Vice President of HIFSCO and HL Advisors. Prior to joining The Hartford in 2004, Mr. Meyer was with MassMutual which he joined in 1987.

D. Keith Sloane (1960) Vice President since 2009

Mr. Sloane is a Senior Vice President of Hartford Life where he serves as Director of mutual fund product management for The Hartford’s mutual funds and 529 college savings businesses. Additionally, Mr. Sloane currently serves as Senior Vice President of HIFSCO, HL Advisors, and HASCO. Prior to joining The Hartford in 2007, Mr. Sloane was Director of product marketing and led the mutual fund business for Wachovia Securities (“Wachovia”) in their investment products group. Mr. Sloane joined Wachovia in 1995.

Jane Wolak (1961) Vice President since 2009

Ms. Wolak currently serves as Vice President of Hartford Life. Ms. Wolak joined Hartford Life as Vice President, Retail Product Services in May 2007. She is also Vice President of HASCO. Previously, Ms. Wolak was with Sun Life Financial where she held the position of Vice President, Service Center Operations from 2001 — 2007.

HOW TO OBTAIN A COPY OF THE FUND’S PROXY VOTING POLICIES AND VOTING RECORDS

A description of the policies and procedures that the Fund uses to determine how to vote proxies relating to portfolio securities and a record of how the Fund voted any proxies for the twelve-month period ended June 30, 2008 is available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov.

QUARTERLY PORTFOLIO HOLDINGS INFORMATION

The Fund files a complete schedule of portfolio holdings with the Commission for the first and third quarters of each fiscal year on Form N-Q. The Fund’s Forms are available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov. The Form N-Q may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330.

21

The Hartford Equity Income Fund

Expense Example (Unaudited)

Your Fund’s Expenses

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments and contingent deferred sales charges (CDSC) (2) ongoing costs including management fees; distribution fees; and other fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the period of October 31, 2008 through April 30, 2009.

Actual Expenses

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

Hypothetical Example for Comparison Purposes

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

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads) and CDSC. Therefore, the second line 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 are equal to the Fund’s annualized expense ratios multiplied by average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

	Actual return						Hypothetical (5% return before expenses)
					Expenses paid						Expenses paid					Days in
					during the period						during the period					the		Days
	Beginning		Ending Account		October 31, 2008		Beginning		Ending Account		October 31,		Annualized			current		in the
	Account Value		Value		through		Account Value		Value		2008 through		expense			1/2		full
	October 31, 2008		April 30, 2009		April 30, 2009		October 31, 2008		April 30, 2009		April 30, 2009		ratio			year		year
Class A	$	1,000.00	$	881.94	$	5.83	$	1,000.00	$	1,018.59	$	6.25		1.25	%		181		365
Class B	$	1,000.00	$	879.40	$	8.85	$	1,000.00	$	1,015.37	$	9.49		1.90			181		365
Class C	$	1,000.00	$	878.61	$	9.31	$	1,000.00	$	1,014.87	$	9.99		2.00			181		365
Class I	$	1,000.00	$	883.14	$	4.48	$	1,000.00	$	1,020.03	$	4.80		0.96			181		365
Class R3	$	1,000.00	$	880.99	$	7.46	$	1,000.00	$	1,016.86	$	8.00		1.60			181		365
Class R4	$	1,000.00	$	880.87	$	6.06	$	1,000.00	$	1,018.34	$	6.50		1.30			181		365
Class R5	$	1,000.00	$	883.09	$	4.24	$	1,000.00	$	1,020.28	$	4.55		0.91			181		365
Class Y	$	1,000.00	$	884.36	$	3.87	$	1,000.00	$	1,020.67	$	4.15		0.83			181		365

22

The Hartford Floating Rate Fund

Table of Contents

Manager Discussions (Unaudited)	2
Financial Statements
Schedule of Investments at April 30, 2009 (Unaudited)	4
Statement of Assets and Liabilities at April 30, 2009 (Unaudited)	13
Statement of Operations for the Six Month Period Ended April 30, 2009 (Unaudited)	14
Statement of Changes in Net Assets for the Six Month Period Ended April 30, 2009 (Unaudited) and the Year Ended October 31, 2008	15
Notes to Financial Statements (Unaudited)	16
Financial Highlights (Unaudited)	26
Directors and Officers (Unaudited)	27
How to Obtain a Copy of the Fund’s Proxy Voting Policies and Proxy Voting Records (Unaudited)	29
Quarterly Portfolio Holdings Information (Unaudited)	29
Expense Example (Unaudited)	30

The Hartford Floating Rate Fund
(subadvised by Hartford Investment Management Company)

Performance Overview(1) 4/29/05 – 4/30/09
Growth of a $10,000 investment in Class A which includes Sales Charge

Credit Suisse Leveraged Loan Index is designed to mirror the investable universe of the U.S.dollar-denominated leveraged loan market.

You cannot invest directly in an index.

The value of shares will fluctuate so that, when redeemed, shares may be worth more or less than their original cost. The chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.

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

Investment objective — Seeks a high level of current income.

Average Annual Total Returns(2,3,4) (as of 4/30/09)

	Inception		1			Since
	Date		Year			Inception
Floating Rate A#		4/29/05		-15.03	%		-1.85	%
Floating Rate A##		4/29/05		-17.58	%		-2.60	%
Floating Rate B#		4/29/05		-15.80	%		-2.63	%
Floating Rate B##		4/29/05		-19.80	%		-3.02	%
Floating Rate C#		4/29/05		-15.80	%		-2.60	%
Floating Rate C##		4/29/05		-16.60	%		-2.60	%
Floating Rate I#		4/29/05		-14.92	%		-1.67	%
Floating Rate R3#		4/29/05		-15.35	%		-1.89	%
Floating Rate R4#		4/29/05		-15.15	%		-1.78	%
Floating Rate R5#		4/29/05		-15.20	%		-1.66	%
Floating Rate Y#		4/29/05		-14.89	%		-1.60	%

#	Without sales charge
##	With sales charge

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)	Growth of a $10,000 investment in Classes B, C, I, R3, R4, R5 and Y shares will vary from results seen above due to differences in the expenses charged to these share classes.
(2)	Class I shares commenced operations on 8/31/06. Performance prior to 8/31/06 reflects Class A performance. Class R3, R4 and R5 shares commenced operations on 12/22/06. Performance prior to 12/22/06 reflects Class Y performance.
(3)	The initial investment in Class A shares reflects the maximum sales charge and Classes B and C reflect CDSC.
(4)	Total returns presented above were calculated using the Fund’s net asset value available to shareholders for sale or redemption of Fund shares on April 30, 2009, which excludes investment transactions as of this date.

Portfolio Managers
Michael Bacevich	Frank Ossino
Managing Director	Senior Vice President

How did the Fund perform?

The Class A shares of The Hartford Floating Rate Fund returned 5.58%, before sales charge, for the six-month period ended April 30, 2009, versus its benchmark, the Credit Suisse Leveraged Loan Index, which returned 2.58%, and the 5.56% average return of the Lipper Loan Participation Funds category, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

There are a number of factors that contributed to the Fund outperforming its benchmark over the period. Going into the end of 2008 we deliberately increased our cash position to 15% of the Fund. Early in 2009 we began reducing this cash position, and it currently stands at 7% as of April 2009. This reduction in cash, coupled with new inflows, was used to increase exposure to what we consider “core” credits (i.e. those credits that are typically liquid, large and seasoned issuers) and defensive sectors.

We also purchased quality high yield bonds at attractive yields, and new issue investment grade bonds to take advantage of record wide new issue spreads (i.e. short and long term interest rates farther apart) in that sector. These investment grade purchases not only enhanced current yield, but also improved the overall credit quality of the Fund.

As conditions in the bank loan market improved, allowing for greater liquidity, we continued to de-risk the portfolio, selling high risk credits and sectors that were previously much less liquid. High risk sectors included: autos, diversified media, retail, and housing. We also took this opportunity to reduce exposure to

2

second lien and unsecured loans as well as loans structured without any financial covenants.

What is the outlook?

The high yield bond and loan markets started the new year with a rally driven by retail inflows in both asset classes. While GDP (Gross Domestic Product) will likely be weak to negative for a couple of quarters, we feel that the credit markets should continue to thaw post massive government intervention. We are also seeing early signs of improvement in the economy. The lack of any supply overhang in the loan market and very limited “forced selling” should only support positive loan market technicals in the near term.

We will be watching the impact that new issuance in the loan market will have on prices as well as the continued increase in defaults.

Distribution by Credit Quality
as of April 30, 2009

	Percentage of
	Long-Term
Rating	Holdings
BBB		8.2	%
BB		39.1
B		44.7
CCC		4.1
D		0.1
Not Rated		3.8
Total		100.0	%

Diversification by Industry
as of April 30, 2009

	Percentage of
Industry	Net Assets
Basic Materials		11.9	%
Capital Goods		1.8
Consumer Cyclical		7.4
Consumer Staples		5.8
Energy		3.8
Finance		5.9
Health Care		12.5
Services		19.1
Technology		14.8
Transportation		2.9
Utilities		6.3
Short-Term Investments		11.2
Other Assets and Liabilities		(3.4	)
Total		100.0	%

3

The Hartford Floating Rate Fund

Schedule of Investments
April 30, 2009 (Unaudited)
(000’s Omitted)

Shares or Principal Amount			Market Value ╪
ASSET & COMMERCIAL MORTGAGE BACKED SECURITIES - 0.6%
		Finance - - 0.6%
		Bayview Financial Acquisition Trust
$	2,600	2.59%, 05/28/2037 ⌂†Δ	$	65
		Citibank Credit Card Issuance Trust
	3,000	0.70%, 01/09/2012 Δ		2,766
		Goldman Sachs Mortgage Securities Corp.
	16,890	1.99%, 02/01/2009 ⌂Δ		8,445
		Helios Finance L.P.
	5,000	2.80%, 10/20/2014 ⌂Δ		587
		Structured Asset Securities Corp.
	4,453	2.94%, 02/25/2037 ⌂Δ		82
		Wells Fargo Home Equity Trust
	4,363	2.69%, 03/25/2037 ⌂Δ		51
				11,996
		Total asset & commercial mortgage backed securities (cost $35,879)	$	11,996
CORPORATE BONDS: INVESTMENT GRADE - 3.9%
		Basic Materials - 1.1%
		Anglo American Capital plc
$	9,970	9.38%, 04/08/2014 §‡	$	10,346
		Rio Tinto Finance USA, Ltd.
	11,660	8.95%, 05/01/2014 ‡		12,069
				22,415
		Consumer Staples - 0.8%
		Anheuser-Busch InBev N.V.
	5,000	7.20%, 01/15/2014 §‡		5,213
	10,000	7.75%, 01/15/2019 §‡		10,470
				15,683
		Energy - 0.2%
		Valero Energy Corp.
	3,688	9.38%, 03/15/2019 ‡		4,119
		Finance - 0.0%
		Unicredito Italiano Capital Trust
	2,000	9.20%, 10/05/2010 §‡♠		940
		Services - 0.5%
		Allied Waste North America, Inc.
	10,000	7.88%, 04/15/2013 ‡		10,150
		Technology - 1.3%
		Qwest Corp.
	9,945	8.88%, 03/15/2012 ‡		10,094
		Time Warner Cable, Inc.
	15,000	7.50%, 04/01/2014 ‡		16,113
				26,207
		Total corporate bonds: investment grade (cost $77,725)	$	79,514
CORPORATE BONDS: NON-INVESTMENT GRADE - 7.0%
		Basic Materials - 0.3%
		Georgia-Pacific Corp.
$	2,000	8.13%, 05/15/2011		2,005
		Georgia-Pacific LLC
	3,875	9.50%, 12/01/2011		3,943
				5,948
		Consumer Cyclical - 0.6%
		Albertson’s, Inc.
	4,405	7.50%, 02/15/2011		4,394
		Dollarama Group L.P.
	7,190	8.88%, 08/15/2012 ‡		6,831
		Supervalu, Inc.
	1,860	8.00%, 05/01/2016		1,804
				13,029
		Consumer Staples - 0.3%
		Appleton Papers, Inc.
	2,000	8.13%, 06/15/2011		1,200
		Dean Foods Co.
	4,000	7.00%, 06/01/2016		3,900
				5,100
		Energy - 0.6%
		Ferrellgas L.P./Finance
	1,500	6.75%, 05/01/2014		1,354
		Ferrellgas Partners L.P.
	2,470	6.75%, 05/01/2014 §		2,229
	2,575	8.75%, 06/15/2012		2,356
		Inergy L.P.
	1,179	8.25%, 03/01/2016		1,170
	4,835	8.75%, 03/01/2015 §		4,859
				11,968
		Finance - 0.4%
		LPL Holdings, Inc.
	4,685	10.75%, 12/15/2015 §‡		4,076
		Rent-A-Center, Inc.
	4,145	7.50%, 05/01/2010 ‡		4,155
				8,231
		Health Care - 0.9%
		HCA, Inc.
	5,000	6.30%, 10/01/2012		4,425
	3,000	7.88%, 02/01/2011		2,940
		Invacare Corp.
	5,820	9.75%, 02/15/2015 ‡		5,864
		Warner Chilcott Corp.
	4,510	8.75%, 02/01/2015		4,431
				17,660
		Services - 0.9%
		Affinion Group, Inc.
	5,305	11.50%, 10/15/2015		3,820
		DirecTV Holdings LLC
	7,000	8.38%, 03/15/2013 ‡		7,105
		Mandalay Resort Group
	3,025	6.50%, 07/31/2009		2,813
		Videotron Ltee
	4,500	6.88%, 01/15/2014		4,371
				18,109
		Technology - 2.8%
		CSC Holdings, Inc.
	17,265	8.50%, 04/15/2014 §‡		17,610
		DaVita, Inc.
	5,000	6.63%, 03/15/2013		4,912
		Frontier Communications Corp.
	5,000	6.25%, 01/15/2013		4,750
	4,000	8.25%, 05/01/2014		3,930
		Intelsat Subsidiary Holding Co.
	1,000	8.50%, 01/15/2013 §		990
	5,000	8.88%, 01/15/2015 §		4,925

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

4

Shares or Principal Amount			Market Value ╪
CORPORATE BONDS: NON-INVESTMENT GRADE - 7.0% — (continued)
		Technology - - 2.8% — (continued)
		Level 3 Financing, Inc.
$	2,000	5.48%, 02/15/2015 Δ	$	1,220
		Mediacom LLC
	4,000	9.50%, 01/15/2013		3,920
		MetroPCS Wireless, Inc.
	7,300	9.25%, 11/01/2014 §		7,273
		Windstream Corp.
	7,500	8.13%, 08/01/2013		7,462
				56,992
		Utilities - 0.2%
		Reliant Energy, Inc.
	4,500	6.75%, 12/15/2014		4,343
		Total corporate bonds: non-investment grade (cost $139,928)	$	141,380
SENIOR FLOATING RATE INTERESTS: NON-INVESTMENT GRADE ♦ — 80.7%
		Basic Materials - 10.5%
		Arizona Chemical Co.
$	6,488	2.43%, 02/27/2013 ±	$	5,158
	7,250	5.93%, 02/27/2014 ±⌂		3,897
		Boise Paper Holdings LLC
	4,000	9.25%, 02/20/2015 ±⌂		1,730
		Brenntag Group
	589	2.50%, 01/12/2014 ±		471
	2,411	3.18%, 12/23/2013 ±		1,929
	10,000	5.50%, 12/22/2012 ±		5,700
		Calumet Lubricants Co., L.P.
	805	1.28%, 12/29/2014 ±		515
	6,020	5.24%, 01/03/2015 ±		3,853
		Cenveo, Inc.
	13,354	5.73%, 06/21/2013 ±		11,773
		Coffeyville Resources
	2,439	3.15%, 12/21/2010 ±		2,014
	7,837	8.75%, 12/21/2013 ±		6,470
		Cognis GMBH
	11,000	3.32%, 05/04/2014 ±		7,744
		Columbian Chemicals Co.
	9,854	4.47%, 03/15/2013 ±		6,011
		Georgia-Pacific Corp.
	6,362	2.72%, 12/20/2013 ±		5,908
	18,172	3.24%, 12/20/2012 ±		16,877
		Goodyear Engineered Products
	1,111	2.97%, 07/31/2014 ±		593
	7,757	3.04%, 07/31/2014 ±		4,140
	4,000	6.22%, 07/31/2015 ±		700
		Goodyear Tire & Rubber Co.
	5,132	2.19%, 04/30/2014 ±		4,281
		Graham Packaging Co., Inc.
	22,526	2.76%, 12/31/2011 *±		20,330
		Hexion Specialty Chemicals
	1,463	3.44%, 05/05/2013 ±		724
	16,654	3.50%, 05/05/2013 - 05/15/2013 *±		8,261
		Hexion Specialty Chemicals, Term Loan C5
	983	3.50%, 05/05/2013 ±		481
		Huntsman International LLC
	18,768	2.18%, 04/19/2014 ±		15,484
		Ineos Group
	7,122	7.50%, 12/16/2014 ±		3,721
	7,123	8.00%, 12/16/2013 ±		3,811
		ISP Chemco LLC
	6,788	2.74%, 05/31/2014 ±		6,098
		Jarden Corp.
	7,201	2.97%, 01/24/2012 *±		6,899
	7,837	3.72%, 01/24/2012 ±		7,571
		John Maneely Co.
	8,692	4.11%, 12/08/2013 ±		6,215
		Kranson Industries
	3,598	2.69%, 07/31/2013 ±		3,059
		MacDermid, Inc.
	10,187	2.43%, 04/11/2014 ±		6,112
		Mega Bloks, Inc.
	4,898	9.75%, 07/26/2012 ±		1,551
		Newpage Corp.
	13,847	4.79%, 12/21/2014 *±		10,697
		Smurfit-Stone Container Enterprises, Inc.
	1,226	2.78%, 11/01/2009 *±		932
	2,068	2.82%, 11/01/2010 - 11/01/2011 *±Ψ		1,341
	3,698	3.00%, 10/28/2009 *±		2,755
	1,592	3.03%, 11/01/2011 *±Ψ		1,084
	7,000	7.00%, 01/28/2010 *◊		7,035
		Solo Cup Co.
	6,532	4.72%, 02/27/2011 ±		6,173
				210,098
		Capital Goods - 1.8%
		Ewards Ltd.
	5,888	2.43%, 05/31/2014 ±⌂		3,474
		Hawker Beechcraft Acquisition Co.
	270	1.12%, 03/27/2014 ±		140
	4,858	2.69%, 03/27/2014 ±		2,516
		Lincoln Industries Corp.
	3,440	2.97%, 07/11/2014 ±		2,752
	3,500	6.20%, 01/10/2015 ±⌂		2,555
		MacAndrews Amg Holdings LLC
	8,973	6.18%, 04/17/2012 ±⌂		6,102
		Nacco Material Handling Group
	7,700	3.64%, 03/22/2013 ±⌂		2,926
		Vought Aircraft Industries, Inc.
	5,791	2.95%, 12/22/2010 ±		4,227
		Yankee Candle Co.
	13,256	3.21%, 02/06/2014 ±		10,858
				35,550
		Consumer Cyclical - 6.8%
		AM General LLC
	11,791	3.84%, 09/30/2013 ±		10,730
		American General Finance Corp.
	528	0.44%, 09/30/2012 ±		480
		Brand Energy & Infrastructure Services
	6,218	3.50%, 02/07/2014 ±		4,508
	1,970	4.49%, 02/07/2014 ±		1,556
		Contech Construction Products
	3,649	2.47%, 01/31/2013 ±		1,916
		Custom Building Products
	3,628	8.00%, 10/20/2011 ±		2,811
	2,000	10.75%, 04/20/2012 ±		1,130

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

5

The Hartford Floating Rate Fund
Schedule of Investments — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

Shares or Principal Amount			Market Value ╪
SENIOR FLOATING RATE INTERESTS: NON-INVESTMENT GRADE ♦ — 80.7% — (continued)
		Consumer Cyclical - 6.8% - (continued)
		David’s Bridal, Inc.
$	4,364	2.88%, 01/25/2014 ±	$	3,622
		Dollar General Corp.
	15,210	3.18%, 07/06/2014*±		14,036
		Dollarama Group L.P.
	10,369	2.79%, 11/18/2011 *±		9,877
		Easton-Bell Sports, Inc.
	10,537	2.25%, 03/16/2012 ±		9,009
		Foster Wheeler LLC
	5,500	1.02%, 09/12/2011 ±		5,005
		Hanesbrands, Inc.
	3,500	4.84%, 03/05/2014 ±		3,095
	11,000	5.80%, 09/05/2011 *±		10,734
		Lear Corp.
	16,287	3.21%, 04/25/2012 ±		6,800
		Levi Strauss & Co.
	16,878	2.70%, 03/09/2014 ±		11,983
		Michaels Stores, Inc.
	9,261	2.70%, 10/31/2013 ±		6,483
		Roundy’s Supermarkets, Inc.
	10,102	3.20%, 11/03/2011 ±		9,226
		Sports Authority, Inc.
	6,240	3.20%, 04/25/2013 ±⌂		2,652
		Supervalu, Inc.
	14,167	1.37%, 06/02/2011 ±		13,338
		Tensar Corp.
	3,066	4.54%, 10/28/2012 ±⌂		1,840
		Toys R Us, Inc.
	10,230	3.51%, 11/30/2008 ±		6,322
				137,153
		Consumer Staples - 4.7%
		American Seafoods Group
	2,799	1.75%, 09/30/2011 - 09/13/2012 ±		2,567
	12,906	2.18%, 09/30/2012 ±		11,874
		Dean Foods Co.
	8,744	2.71%, 03/29/2014 ±		8,124
		Dole Food Co., Inc.
	2,880	1.14%, 04/12/2013 *±		2,727
	5,887	7.96%, 04/12/2013 *±		5,573
	18,121	7.97%, 04/12/2013 *±		17,154
		Huish Detergents, Inc.
	7,824	2.18%, 04/25/2014 ±		7,042
		Michael Foods, Inc.
	297	3.06%, 11/21/2010 ±		296
		Van Houtte, Inc., First Lien Term Loan
	3,458	3.72%, 07/09/2014 ±		2,871
		Van Houtte, Inc., Second Lien Term Loan
	472	3.72%, 07/09/2014 ±		391
		WM Wrigley Jr. Co.
	37,588	6.50%, 10/06/2014 ±		37,566
				96,185
		Energy - 3.0%
		Big West Oil LLC
	5,482	4.50%, 02/02/2015 *±Ψ		4,386
		Big West Oil LLC, Delayed Draw Term Loan
	6,892	4.50%, 02/02/2015 *±Ψ		5,513
		Lyondell Chemical Co.
	18,317	5.94%, 12/15/2009 *±Ψ		14,351
	17,510	9.17%, 12/15/2009 *±Ψ		17,777
		Lyondell Chemical Co., Dutch RC
	149	5.75%, 12/20/2013 ±Ψ		49
		Lyondell Chemical Co., Dutch Tranche A
	350	5.75%, 12/20/2013 ±Ψ		116
		Lyondell Chemical Co., German B-1
	428	6.00%, 12/20/2014 ±Ψ		142
		Lyondell Chemical Co., German B-2
	428	6.00%, 12/20/2014 ±Ψ		142
		Lyondell Chemical Co., German B-3
	428	6.00%, 12/20/2014 ±Ψ		142
		Lyondell Chemical Co., Primary RC
	560	5.75%, 12/20/2013 ±Ψ		186
		Lyondell Chemical Co., Term Loan A
	1,066	5.75%, 12/20/2013 ±Ψ		354
		Lyondell Chemical Co., U.S. B-1
	1,859	7.00%, 12/20/2014 ±Ψ		617
		Lyondell Chemical Co., U.S. B-2
	1,859	7.00%, 12/20/2014 ±Ψ		617
		Lyondell Chemical Co., U.S. B-3
	1,859	7.00%, 12/20/2014 ±Ψ		617
		Texas Petrochemicals L.P.
	9,774	3.00%, 06/27/2013 ±		4,495
		Turbo Beta Ltd.
	5,049	14.50%, 03/12/2018 ±⌂†		2,222
		Western Refining, Inc.
	12,399	8.25%, 03/06/2014 ±		9,857
				61,583
		Finance - 4.9%
		Amerigroup Corp.
	5,368	2.44%, 03/26/2012 *±		5,167
		Ashtead Group plc
	6,062	3.13%, 08/21/2011 ±		5,456
		BNY Convergex Group LLC
	2,192	3.43%, 09/30/2013 ±		2,011
		BNY Convergex Group LLC & EZE Castle Software
	10,214	3.43%, 08/30/2013 ±		9,372
		Brickman Group Holdings, Inc.
	6,818	2.43%, 01/23/2014 *±		6,067
		Buckeye Check Cashing, Inc.
	8,555	3.71%, 05/01/2012 ±⌂		2,781
		Community Health Systems, Inc.
	783	2.68%, 07/25/2014 *±		704
	15,347	3.45%, 07/25/2014 *±		13,799
		Crescent Resources LLC
	15,071	5.04%, 09/07/2012 ±•		1,959
		Dollar Financial Corp., Delayed Draw Term Loan
	1,859	3.97%, 10/30/2012 ±		1,320
		Dollar Financial Corp., Term Loan
	2,528	3.97%, 10/30/2012 ±		1,795
		Golden Gate National
	9,164	3.18%, 03/14/2011 *±		7,881
		HMSC Corp.
	3,920	2.68%, 04/03/2014 ±⌂		1,921

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

6

Shares or Principal Amount			Market Value ╪
SENIOR FLOATING RATE INTERESTS: NON-INVESTMENT GRADE ♦ — 80.7% — (continued)
		Finance - 4.9% - (continued)
		Hub International Holdings, Inc., Delayed Draw Term Loan
$	893	3.72%, 06/12/2014 ±	$	684
		Hub International Holdings, Inc., Term Loan
	3,975	3.72%, 06/14/2014 ±		3,044
		LNR Properties Corp.
	15,720	4.00%, 06/29/2009 - 06/29/2011 ±		8,036
		LPL Holdings, Inc.
	5,990	2.25%, 06/28/2013*◊		5,061
		Realogy Corp.
	2,060	0.35%, 10/05/2013 ±		1,313
	7,651	4.18%, 10/05/2014 ±		4,878
		Rent-A-Center, Inc.
	8,492	2.22%, 10/26/2012 ±		7,982
		Sedgwick CMS Holdings, Inc.
	6,019	2.68%, 01/31/2013 ±		5,146
		TransFirst Holdings, Inc.
	4,912	3.18%, 06/12/2014 ±		2,702
	1,000	6.43%, 06/12/2015 ±		150
				99,229
		Health Care - 11.6%
		AGA Medical Corp.
	5,175	2.91%, 04/26/2013 ±		4,398
		Carestream Health, Inc.
	8,855	2.43%, 04/30/2013 - 10/12/2013 ±		7,189
		Carl Zeiss
	5,718	2.93%, 03/14/2014 ±⌂		2,058
EUR	2,500	4.94%, 03/14/2014 ±⌂		265
		Center for Diagnostic Imaging
	4,391	4.72%, 12/31/2010 ±⌂		3,952
		DJO Finance LLC
	6,913	3.77%, 04/07/2013 ±		6,077
		Fresenius SE
	18,500	6.75%, 10/01/2014*±		18,406
		Generics International, Inc.
	2,963	4.72%, 11/19/2014 ±⌂		2,222
		HCA, Inc.
	27,036	3.47%, 11/17/2013 *±		24,346
		Healthcare Partners LLC
	7,883	2.18%, 10/20/2013 ±		6,760
		HealthSouth Corp.
	11,799	2.96%, 03/10/2013 *±		10,560
		IASIS Healthcare Capital Corp.
	630	0.34%, 03/17/2014 ±		557
	5,686	6.29%, 06/13/2014 ±		2,938
		IASIS Healthcare Capital Corp., Delayed Draw Term Loan
	2,346	2.43%, 03/17/2014 ±		2,073
		IASIS Healthcare Capital Corp., Term Loan B
	6,779	2.43%, 03/17/2014 ±		5,991
		Invacare Corp.
	1,608	3.21%, 02/07/2013 ±		1,405
		Inverness Medical Innovation, Inc.
	5,895	2.78%, 06/27/2014 ±		5,353
	8,575	4.74%, 06/26/2015 *±		7,460
		Life Technologies Corp.
	19,385	5.25%, 11/23/2015 *±		19,296
		LifePoint Hospitals, Inc.
	8,726	2.89%, 04/15/2012 ±		8,220
		Multiplan Corp.
	11,132	2.94%, 04/12/2013 ±		9,704
		National Mentor
	397	0.36%, 06/27/2013 ±		273
	6,426	3.22%, 06/27/2013 ±		4,423
		National Renal Institutes, Inc.
	9,846	6.24%, 03/31/2013 ±⌂		5,317
		Orthofix Holdings, Inc.
	5,654	7.17%, 09/22/2013 ±		5,301
		Psychiatric Solutions, Inc.
	8,888	2.21%, 07/01/2012 ±		8,110
		Rite Aid Corp.
	4,194	2.20%, 06/01/2014 ±		3,418
	3,980	6.00%, 06/04/2014 ±		3,263
		Select Medical Corp.
	11,586	3.25%, 02/24/2012 ±		10,157
		Skilled Healthcare Group, Inc.
	4,864	2.67%, 06/15/2012 ±		4,118
		Surgical Care Affiliates LLC
	5,895	3.22%, 12/29/2014 ±		4,834
		United Surgical Partners International
	1,475	2.45%, 04/19/2014 ±		1,283
	7,808	2.76%, 04/19/2014 ±		6,754
		Vanguard Health Holdings Co. II LLC
	18,213	2.68%, 09/23/2011 ±		17,166
		Viant Holdings, Inc.
	7,142	3.47%, 06/25/2014 ±		5,250
		Warner Chilcott Corp.
	1,121	2.43%, 01/18/2012 ±		1,059
	4,120	2.87%, 01/18/2012 ±		3,893
		Youth & Family Centered Services, Inc.
	2,004	5.39%, 07/10/2013 ±		1,664
				235,513
		Services - 17.7%
		24 Hour Fitness Worldwide, Inc.
	5,825	3.31%, 06/08/2012 ±		3,786
		Acosta, Inc.
	11,843	2.68%, 12/06/2012 *±		10,215
		Advanstar Holdings Corp.
	7,761	3.14%, 06/01/2014 ±		3,104
	2,000	5.00%, 12/01/2014 ±⌂		180
		Advantage Sales & Marketing, Inc.
	13,740	2.48%, 03/29/2013 ±		11,862
		Affinion Group, Inc.
	17,732	3.73%, 10/17/2012 *±		15,516
		Bresnan Communications LLC
	2,000	5.00%, 03/29/2014*◊		1,580
		Cardinal Logistics Management
	5,139	4.22%, 09/23/2013 ±⌂†		2,826
		Carmike Cinemas, Inc.
	1,570	5.19%, 09/29/2011 ±		1,323
	5,375	6.13%, 05/19/2012 ±		4,528
		Cebridge Communications LLC
	4,535	2.48%, 11/05/2013 ±		4,131
	10,000	5.00%, 05/05/2014 ±		7,961
		Cedar Fair L.P.
	9,461	2.43%, 06/12/2012 - 08/30/2012 ±		8,341
		Cengage
	5,830	2.93%, 07/05/2014 ±		4,271

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

7

The Hartford Floating Rate Fund
Schedule of Investments — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

Shares or Principal Amount			Market Value ╪
SENIOR FLOATING RATE INTERESTS: NON-INVESTMENT GRADE ♦ — 80.7% — (continued)
		Services - 17.7% - (continued)
		Centaur LLC
$	2,410	9.25%, 10/30/2012 ±	$	1,446
	2,097	14.25%, 10/30/2013 ±⌂		315
		Clarke American Corp.
	18,658	3.33%, 02/28/2014 ±		12,687
		CMP Susquehanna Corp.
	8,780	2.48%, 05/06/2013 ±		3,749
		Cumulus Media, Inc.
	11,543	2.08%, 06/07/2013 ±		6,580
		CW Media Holdings, Inc.
	7,880	4.47%, 02/15/2015 ±		6,337
		Dex Media West LLC, Inc.
	15,000	7.00%, 10/24/2014 *±		10,061
		Emdeon Business Services LLC
	4,000	4.14%, 05/16/2014 ±		3,280
	5,956	5.89%, 11/16/2013 ±		5,405
		Energy Solutions, LLC, Add-On Letter of Credit
	1,514	0.50%, 06/07/2013 ±		1,378
		F & W Publications, Inc.
	6,968	3.50%, 08/05/2012 ±⌂		1,951
	4,500	5.48%, 08/05/2012 ±⌂		225
		F & W Publications, Inc., Term Loan B Add- On
	1,466	3.48%, 08/05/2012 ±⌂		410
		Golden Nugget, Inc.
	2,545	2.23%, 06/22/2014 ±⌂		1,213
	1,452	2.40%, 06/22/2014 * ±⌂		692
	3,750	3.69%, 12/31/2014 ±⌂		600
		Gray Television, Inc.
	10,993	4.00%, 12/31/2014 ±		4,342
		Greektown Holdings LLC, Incremental Term Loan
	2,200	0.00%, 12/03/2012 ±⌂Ω		407
		Greektown Holdings LLC, Term Loan B
	2,493	0.00%, 12/03/2012 ±⌂Ω		461
		Greenwood Racing, Inc.
	10,255	2.68%, 11/14/2011 ±		8,717
		Hit Entertainment, Inc.
	1,475	3.49%, 08/26/2012 ±⌂		767
		Idearc, Inc.
	8,563	4.25%, 11/17/2014 ±Ω		3,288
		Las Vegas Sands Corp.
	1,995	2.27%, 05/23/2013 ±		1,229
		Las Vegas Sands Corp., Delayed Draw Term Loan 1
	3,691	2.18%, 05/23/2014 ±		2,274
		Las Vegas Sands Corp., Term Loan B
	14,430	2.18%, 05/23/2014 ±		8,889
		LBI Media, Inc.
	8,932	1.93%, 05/01/2012 ±		6,252
		Nelson Education
	5,910	3.72%, 07/05/2014 ±⌂		3,546
		NEP Supershooters L.P.
	7,840	2.69%, 02/13/2014 ±⌂		6,625
		New World Gaming Partners Ltd.
	4,000	6.71%, 03/31/2015 ±⌂		600
		New World Gaming Partners Ltd., Delayed Draw Term Loan
	167	3.71%, 09/30/2014 ±		80
		New World Gaming Partners Ltd., First Lien Term Loan
	823	3.71%, 09/30/2014 ±		393
		Penton Media, Inc.
	6,909	3.23%, 02/06/2013 ±		4,007
	4,000	6.04%, 02/06/2014 ±⌂		467
		Philosophy, Inc.
	6,276	2.43%, 03/17/2014 ±		2,511
		Pinnacle Foods
	11,145	3.25%, 03/30/2014 ±		9,264
		R.H. Donnelley, Inc.
	11,479	6.75%, 06/30/2011 ±		7,632
		Raycom TV Broadcasting, Inc.
	14,229	2.00%, 07/27/2013 ±⌂		9,960
		Readers Digest Association, Inc.
	13,111	3.29%, 03/02/2014 ±		4,458
	5,000	3.50%, 03/02/2013 *±⌂		1,100
		Regal Cinemas, Inc.
	24,886	4.97%, 10/27/2013 ±		23,978
		Sabre, Inc.
	6,951	3.07%, 09/30/2014 ±		3,835
		Sheridan Group, Inc.
	8,790	2.95%, 06/15/2014 ±		6,483
	2,000	6.20%, 06/15/2015 ±⌂		1,100
		Sirius Satellite Radio, Inc.
	9,250	2.69%, 12/20/2012 ±		7,493
		Southern Graphic Systems
	2,958	4.02%, 12/30/2011 *±		2,366
	1,543	4.02%, 12/30/2011 *±⌂		1,202
		Synagro Technologies, Inc.
	3,930	2.46%, 03/28/2014 ±		2,554
		Telesat Canada
	5,957	3.55%, 09/01/2014 ±		5,495
	454	4.22%, 09/01/2014 ±		419
		Town Sports International Holdings, Inc.
	5,885	2.25%, 02/27/2014 ±⌂		3,825
		United Site Services, Inc.
	1,800	4.68%, 06/29/2013 ±⌂		810
		UPC Financing Partnership
	17,500	2.32%, 12/31/2014 - 12/31/2016 *±		15,862
		Venetian Macau Ltd.
	10,868	2.68%, 05/25/2012 - 05/25/2013 ±		7,880
		West Corp.
	24,808	2.83%, 10/24/2013* ±		21,323
		WideOpenWest Finance LLC
	14,000	2.94%, 07/01/2014 *±		10,453
	5,496	7.49%, 06/29/2015 ±		2,075
		Wynn Resorts Ltd.
	7,500	2.18%, 06/27/2014 ±		5,062
		Yonkers Racing Corp.
	12,511	10.50%, 08/12/2011 *±		12,166
				357,603

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

8

Shares or Principal Amount			Market Value ╪
SENIOR FLOATING RATE INTERESTS: NON-INVESTMENT GRADE ♦ - 80.7% — (continued)
		Technology - 10.7%
		Alaska Communication Systems Holdings, Inc.
$	181	2.97%, 02/01/2012 ±	$	165
		Alaska Communication Systems Holdings, Inc., Incremental Term Loan
	2,737	2.97%, 02/01/2012 *±		2,489
		Alaska Communication Systems Holdings, Inc., Term Loan
	9,038	2.97%, 02/01/2012 *±		8,219
		Canwest MediaWorks L.P.
	4,903	3.26%, 07/10/2014 ±		1,863
		Caribe Information Investment, Inc.
	11,798	2.47%, 03/29/2013 ±⌂		5,899
		Charter Communications Operating LLC
	17,000	4.69%, 03/06/2014 *±Ψ		14,389
		DaVita, Inc.
	1,769	1.93%, 10/05/2011 ±		1,658
		Fleetcor Technologies Operating Co. LLC, Delayed Draw Term Loan
	2,524	2.77%, 04/30/2013 *±		2,246
		Fleetcor Technologies Operating Co. LLC, Term Loan B
	7,855	2.76%, 04/30/2013 *±		6,991
		Gatehouse Media Operating, Inc.
	17,245	2.44%, 08/05/2014 ±		4,193
	5,315	2.47%, 08/05/2014 ±		1,292
		Infor Global Solutions
	983	3.27%, 07/28/2012 ±		697
	2,000	6.02%, 03/02/2014 ±		635
	3,000	6.68%, 03/02/2014 ±		997
		Infor Global Solutions, Delayed Draw Term Loan
	1,958	4.18%, 07/28/2012 ±		1,449
		Infor Global Solutions, U.S. Term Loan
	3,753	4.18%, 07/28/2012 ±		2,777
		Intelsat Bermuda Ltd.
	2,000	2.99%, 07/03/2012 *±		1,847
		Intelsat Bermuda Ltd., Term Loan B 2A
	7,338	2.99%, 01/03/2014 *±		6,704
		Intelsat Bermuda Ltd., Term Loan B 2B
	7,332	2.99%, 01/03/2014 *±		6,698
		Intelsat Bermuda Ltd., Term Loan B 2C
	7,332	2.99%, 01/03/2014 *±		6,699
		Intesat Ltd.
	3,413	2.99%, 07/03/2012 ±		3,151
		IPC Systems, Inc.
	3,870	3.47%, 05/31/2014 ±⌂		2,121
		Kronos, Inc.
	4,774	3.47%, 06/12/2014 ±		3,541
		Leap Wireless International, Inc.
	12,058	5.75%, 06/17/2013 ±		11,541
		Level 3 Communications Corp.
	17,441	3.19%, 03/01/2014 *±		13,920
	2,000	11.50%, 03/13/2014 ±		2,030
		Mediacom Broadband LLC
	541	1.83%, 03/31/2010 ±		528
	1,317	2.08%, 01/31/2015 ±		1,172
	8,937	6.50%, 01/03/2016 ±		8,697
		Mediacom Broadband LLC, Term Loan D1
	3,399	2.08%, 01/31/2015 ±		3,023
		Mediacom LLC
	1,740	1.58%, 09/30/2012 ±		1,566
	6,801	1.83%, 01/31/2015 ±		6,056
		MetroPCS Wireless, Inc.
	15,038	3.17%, 11/04/2013 ±		14,016
		National Cinemedia, Inc.
	9,000	3.08%, 02/13/2015 ±		7,925
		Ntelos, Inc.
	11,226	2.68%, 08/24/2011 ±		10,693
		One Communications Corp.
	9,460	4.53%, 06/30/2012 ±		5,865
		PAETEC Holding Corp.
	5,044	2.93%, 02/28/2013 ±		4,170
		RCN Corp.
	9,386	3.50%, 04/19/2014 ±		8,463
		Time Warner Telecom Holdings, Inc.
	13,597	2.43%, 01/07/2013 ±		12,319
		Verint Systems, Inc.
	10,388	3.70%, 05/23/2014 ±		7,609
		Virgin Media Dover LLC
	6,969	4.60%, 09/03/2012 ±		6,411
		Wind Acquisitions Holdings Finance S.A.
	6,481	8.36%, 12/12/2011 ±		5,184
				217,908
		Transportation - 2.9%
		Delta Air Lines, Inc.
	10,880	2.36%, 04/25/2012 *±		8,712
		Jacobson Cos.
	3,930	3.00%, 06/19/2014 ±⌂		2,368
		Kenan Advantage Group
	5,648	3.43%, 12/16/2011 ±		4,518
		Louis US Holdco, Inc.
	2,481	3.43%, 11/04/2013 ±		1,216
	828	4.22%, 11/04/2013 ±⌂		406
		MacQuarie Aircraft Leasing Finance S.A.
	18,291	2.00%, 11/29/2013 *±⌂		12,803
	4,970	4.43%, 11/29/2013 ±⌂		1,491
		Northwest Airlines Corp.
	10,153	2.46%, 12/31/2010 ±		9,284
		RailAmerica Transportation
	730	5.20%, 06/30/2009 ±		679
	11,270	5.44%, 06/30/2009 ±		10,481
		United Air Lines, Inc.
	8,407	2.44%, 02/01/2014 *±		4,192
		US Airways Group, Inc.
	9,855	2.94%, 03/23/2014 ±		4,476
				60,626
		Utilities - 6.1%
		Astoria Generating Co. Acquisitions LLC
	5,695	2.20%, 02/23/2012 ±		5,232
	16,500	4.20%, 08/23/2013 *±		13,461
		Calpine Corp.
	33,361	4.10%, 03/29/2014 *±		28,607
		Dynegy Holdings, Inc., Letter of Credit
	14,973	2.00%, 03/30/2013 ±		13,514
		Dynegy Holdings, Inc., Term Loan
	1,010	1.93%, 03/30/2013 ±		911

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

9

The Hartford Floating Rate Fund
Schedule of Investments — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

Shares or Principal Amount					Market Value ╪
SENIOR FLOATING RATE INTERESTS: NON-INVESTMENT GRADE ♦ - 80.7% — (continued)
		Utilities - 6.1% — (continued)
		Kgen LLC
$	1,375	2.09%, 02/01/2014 ±			$	1,169
	2,241	2.19%, 02/01/2014 ±				1,904
		NRG Energy, Inc.
	20,093	1.12%, 02/01/2013 ±				18,657
	4,574	2.72%, 02/01/2013 ±				4,247
		Reliant Energy, Inc.
	7,000	0.49%, 03/31/2014 ±				6,218
		Texas Competitive Electric Holdings Co. LLC
	22,754	3.97%, 10/10/2014 - 10/12/2014 ±				15,384
		TPF Generation Holdings LLC
	7,358	2.43%, 12/15/2013 ±				6,825
	6,314	4.68%, 12/21/2014 ±				5,146
		TPF Generation Holdings LLC, Letter of Credit
	2,516	1.12%, 12/15/2013 ±				2,333
		TPF Generation Holdings LLC, Revolver
	789	1.22%, 12/15/2011 ±				732
						124,340
		Total senior floating rate interests: non-investment grade (cost $2,076,085)			$	1,635,788
COMMON STOCKS - 0.0%
		Utilities - 0.0%
	4	Calpine Corp. •			$	31
		Total common stocks (cost $—)			$	31
		Total long-term investments (cost $2,329,617)			$	1,868,709
SHORT-TERM INVESTMENTS - 11.2%
		Investment Pools and Funds - 8.8%
	98,992	JP Morgan U.S. Government Money Market Fund			$	98,992
	—	State Street Bank U.S. Government Money Market Fund				—
	80,025	Wells Fargo Advantage Government Money Market Fund				80,025
						179,017
		Repurchase Agreements - 2.4%
		BNP Paribas Securities Corp. Repurchase Agreement (maturing on 05/01/2009 in the amount of $37,322, collateralized by U.S. Treasury Bond 5.38%, 2031, value of $38,024)
$	37,322	0.15%, 04/30/2009			$	37,322
		UBS Securities, Inc. Repurchase Agreement (maturing on 05/01/2009 in the amount of $10,439, collateralized by U.S. Treasury Bond 7.50%, 2024, value of $10,675)
	10,439	0.13%, 04/30/2009				10,439
						47,761
		Total short-term investments (cost $226,778)			$	226,778
		Total investments (cost $2,556,395)▲	103.4	%	$	2,095,487
		Other assets and liabilities	(3.4	)%		(69,670	)
		Total net assets	100.0	%	$	2,025,817

Note:	Percentage of investments as shown is the ratio of the total market value to total net assets. Market value of investments in foreign securities represents 2.83% of total net assets at April 30, 2009.
▲	At April 30, 2009, the cost of securities for federal income tax purposes was $2,567,005 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	17,063
Unrealized Depreciation		(488,581	)
Net Unrealized Depreciation	$	(471,518	)

†	The aggregate value of securities valued in good faith at fair value as determined under policies and procedures established by and under the supervision of the Fund’s Board of Directors at April 30, 2009, was $5,113, which represents 0.25% of total net assets.
•	Currently non-income producing. For long-term debt securities, items identified are in default as to payment of interest and/or principal.
‡	This security, or a portion of this security, has been segregated to cover funding requirements on investment transactions settling in the future.
Δ	Variable rate securities; the rate reported is the coupon rate in effect at April 30, 2009.
§	Securities issued within terms of a private placement memorandum, exempt from registration under Rule 144A under the Securities Act of 1933, as amended, and may be sold only to qualified institutional buyers. Pursuant to guidelines adopted by the Board of Directors, these issues are determined to be liquid. The aggregate value of these securities at April 30, 2009, was $68,931, which represents 3.40% of total net assets.
♠	Perpetual maturity security. Maturity date shown is the first call date.
*	The cost of securities purchased on a when-issued or delayed delivery basis at April 30, 2009 was $123,141.
±	The interest rate disclosed for these securities represents the average coupon as of April 30, 2009.

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

10

◊	The interest rate disclosed for these securities represents an estimated average coupon as of April 30, 2009.
Ω	Debt security in default due to bankruptcy.
Ψ	The company is in bankruptcy. The investment held by the fund is current with respect to interest payments.
╬	All principal amounts are in U.S. dollars unless otherwise indicated.
	EUR — EURO
⌂	The following securities are considered illiquid. Illiquid securities are often purchased in private placement transactions, are often not registered under the Securities Act of 1933 and may have contractual restrictions on resale. A security may also be considered illiquid if the security lacks a readily available market or if its valuation has not changed for a certain period of time.

Period	Shares/
Acquired	Par		Security	Cost Basis
06/2007	$	2,000	Advanstar Holdings Corp., 5.00%, 12/01/2014	$	2,000
02/2007 - 09/2007	$	7,250	Arizona Chemical Co., 5.93%, 02/27/2014		7,175
04/2007	$	2,600	Bayview Financial Acquisition Trust, 2.59%, 05/28/2037		2,600
03/2008 - 08/2008	$	4,000	Boise Paper Holdings LLC, 9.25%, 02/20/2015		3,832
04/2006 - 05/2008	$	8,555	Buckeye Check Cashing, Inc., 3.71%, 05/01/2012		8,272
03/2007 - 04/2008	$	5,139	Cardinal Logistics Management, 4.22%, 09/23/2013		5,033
03/2006 - 06/2007	$	11,798	Caribe Information Investment, Inc., 2.47%, 03/29/2013		11,816
03/2007	$	5,718	Carl Zeiss, 2.93%, 03/14/2014		5,718
03/2007 - 08/2007	$	2,500	Carl Zeiss, 4.94%, 03/14/2014		3,356
10/2007 - 04/2009	$	2,097	Centaur LLC, 14.25%, 10/30/2013		2,067
09/2006 - 04/2008	$	4,391	Center for Diagnostic Imaging, 4.72%, 12/31/2010		4,249
05/2007 - 09/2007	$	5,888	Ewards Ltd., 2.43%, 05/31/2014		5,746
02/2006 - 11/2006	$	6,968	F & W Publications, Inc., 3.50%, 08/05/2012		6,973
03/2007 - 08/2007	$	4,500	F & W Publications, Inc., 5.48%, 08/05/2012		4,491
03/2007	$	1,466	F & W Publications, Inc., Term Loan B Add-On, 3.48%, 08/05/2012		1,466
11/2007	$	2,963	Generics International, Inc., 4.72%, 11/19/2014		2,933
06/2007 - 07/2007	$	2,545	Golden Nugget, Inc., 2.23%, 06/22/2014		2,543
06/2008 - 07/2008	$	1,452	Golden Nugget, Inc., 2.40%, 06/22/2014		1,452
06/2007	$	3,750	Golden Nugget, Inc., 3.69%, 12/31/2014		3,750
03/2007	$	16,890	Goldman Sachs Mortgage Securities Corp., 1.99%, 02/01/2009 — Reg D		16,890
05/2008	$	2,200	Greektown Holdings LLC, Incremental Term Loan, 0.00%, 12/03/2012		1,984
06/2006 - 05/2008	$	2,493	Greektown Holdings LLC, Term Loan B, 0.00%, 12/03/2012		2,421
04/2007	$	5,000	Helios Finance L.P., 2.80%, 10/20/2014 — 144A		5,000
08/2005 - 04/2007	$	1,475	Hit Entertainment, Inc., 3.49%, 08/26/2012		1,475
04/2007	$	3,920	HMSC Corp., 2.68%, 04/03/2014		3,924
05/2007 - 06/2007	$	3,870	IPC Systems, Inc., 3.47%, 05/31/2014		3,879
06/2007	$	3,930	Jacobson Cos., 3.00%, 06/19/2014		3,930
07/2007 - 09/2007	$	3,500	Lincoln Industries Corp., 6.20%, 01/10/2015		3,472
12/2006	$	828	Louis US Holdco, Inc., 4.22%, 11/04/2013		828
04/2007 - 01/2008	$	8,973	MacAndrews Amg Holdings LLC, 6.18%, 04/17/2012		8,840
03/2007 - 05/2007	$	18,291	MacQuarie Aircraft Leasing Finance S.A., 2.00%, 11/29/2013		18,291
03/2007	$	4,970	MacQuarie Aircraft Leasing Finance S.A., 4.43%, 11/29/2013		4,970
12/2006 - 06/2007	$	7,700	Nacco Material Handling Group, 3.64%, 03/22/2013		7,713
04/2006 - 12/2008	$	9,846	National Renal Institutes, Inc., 6.24%, 03/31/2013		9,690
07/2007	$	5,910	Nelson Education, 3.72%, 07/05/2014		5,895
02/2007 - 04/2007	$	7,840	NEP Supershooters L.P., 2.69%, 02/13/2014		7,882
07/2007	$	4,000	New World Gaming Partners Ltd., 6.71%, 03/31/2015		4,000
02/2007 - 05/2007	$	4,000	Penton Media, Inc., 6.04%, 02/06/2014		4,047
02/2006 - 05/2007	$	14,229	Raycom TV Broadcasting, Inc., 2.00%, 07/27/2013		14,224
03/2008	$	5,000	Readers Digest Association, Inc., 3.50%, 03/02/2013		5,000
06/2007	$	2,000	Sheridan Group, Inc., 6.20%, 06/15/2015		2,000
03/2007 - 04/2009	$	1,543	Southern Graphic Systems, 4.02%, 12/30/2011		1,413
10/2006 - 05/2007	$	6,240	Sports Authority, Inc., 3.20%, 04/25/2013		6,241
03/2007	$	4,453	Structured Asset Securities Corp., 2.94%, 02/25/2037		4,393
10/2005 - 06/2006	$	3,066	Tensar Corp., 4.54%, 10/28/2012		3,066
06/2007 - 08/2007	$	5,885	Town Sports International Holdings, Inc., 2.25%, 02/27/2014		5,766
06/2008 - 11/2008	$	5,049	Turbo Beta Ltd., 14.50%, 03/12/2018		5,049
07/2006	$	1,800	United Site Services, Inc., 4.68%, 06/29/2013		1,782

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

11

The Hartford Floating Rate Fund
Schedule of Investments — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

Period		Shares/
Acquired		Par		Security	Cost Basis
	03/2007	$	4,363	Wells Fargo Home Equity Trust, 2.69%, 03/25/2037	$	4,212

The aggregate value of these securities at April 30, 2009 was $119,514 which represents 5.90% of total net assets.

♦

Senior floating rate interests in which the Fund invests generally pay interest rates which are periodically adjusted by reference to a base short-term, floating lending rate plus a premium. These base lending rates are generally (i) the lending rate offered by one or more major European banks, such as the London Inter-Bank Offered Rate (LIBOR), (ii) the prime rate offered by one or more major United States Banks, or (iii) the bank’s certificate of deposit rate. Senior floating rate interests often require prepayments from excess cash flows or permit the borrower to repay at its election. The rate at which the borrower repays cannot be predicted with accuracy. As a result, the actual remaining maturity may be substantially less than the stated maturities shown. The interest rate is the rate in effect at April 30, 2009.

╪

See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of securities.

FAS 157 Disclosure of Investment Valuation Hierarchy Levels

Assets:
Investment in securities — Level 1	$	179,048
Investment in securities — Level 2		1,897,618
Investment in securities — Level 3		18,821
Total	$	2,095,487

Following is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value:

Assets:
Securities:
Balance as of October 31, 2008	$	18,775
Change in unrealized depreciation ♦		(7,819	)
Net purchases		2,217
Transfers in and /or out of Level 3		5,648
Balance as of April 30, 2009	$	18,821
♦ Change in unrealized gains or losses relating to assets still held at April 30, 2009	$	(10,617	)

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

12

The Hartford Floating Rate Fund

Statement of Assets and Liabilities
April 30, 2009 (Unaudited)
(000’s Omitted)

Assets:
Investments in securities, at fair value (cost $2,556,395)	$	2,095,487
Receivables:
Investment securities sold		39,611
Fund shares sold		27,117
Dividends and interest		10,061
Other assets		163
Total assets		2,172,439
Liabilities:
Payables:
Investment securities purchased		140,175
Fund shares redeemed		2,519
Investment management fees		198
Dividends		2,697
Distribution fees		177
Accrued expenses		844
Other liabilities		12
Total liabilities		146,622
Net assets	$	2,025,817
Summary of Net Assets:
Capital stock and paid-in-capital		3,039,864
Accumulated undistributed net investment income		3,439
Accumulated net realized loss on investments and foreign currency transactions		(556,578	)
Unrealized depreciation of investments		(460,908	)
Net assets	$	2,025,817
Shares authorized		2,400,000
Par value	$	0.001
Class A: Net asset value per share/Maximum offering price per share	$	7.29/$7.51
Shares outstanding		116,152
Net assets	$	846,236
Class B: Net asset value per share	$	7.28
Shares outstanding		5,371
Net assets	$	39,126
Class C: Net asset value per share	$	7.28
Shares outstanding		116,716
Net assets	$	849,711
Class I: Net asset value per share	$	7.29
Shares outstanding		30,065
Net assets	$	219,084
Class R3: Net asset value per share	$	7.29
Shares outstanding		154
Net assets	$	1,121
Class R4: Net asset value per share	$	7.28
Shares outstanding		85
Net assets	$	619
Class R5: Net asset value per share	$	7.29
Shares outstanding		3
Net assets	$	18
Class Y: Net asset value per share	$	7.28
Shares outstanding		9,602
Net assets	$	69,902

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

13

The Hartford Floating Rate Fund

Statement of Operations
For the Six Month Period Ended April 30, 2009 (Unaudited)
(000’s Omitted)

Investment Income:
Dividends	$	67
Interest		60,472
Total investment income		60,539
Expenses:
Investment management fees		5,206
Transfer agent fees		798
Distribution fees
Class A		827
Class B		176
Class C		3,808
Class R3		2
Class R4		1
Custodian fees		7
Accounting services		152
Registration and filing fees		117
Board of Directors’ fees		25
Audit fees		36
Other expenses		557
Total expenses (before waivers and fees paid indirectly)		11,712
Expense waivers		(549	)
Custodian fee offset		—
Total waivers and fees paid indirectly		(549	)
Total expenses, net		11,163
Net investment income		49,376
Net Realized Loss on Investments and Foreign Currency Transactions:
Net realized loss on investments in securities		(226,193	)
Net realized loss on foreign currency transactions		(67	)
Net Realized Loss on Investments and Foreign Currency Transactions		(226,260	)
Net Changes in Unrealized Appreciation of Investments and Foreign Currency Transactions:
Net unrealized appreciation of investments		266,660
Net unrealized appreciation on translation of other assets and liabilities in foreign currencies		267
Net Changes in Unrealized Appreciation of Investments and Foreign Currency Transactions		266,927
Net Gain on Investments and Foreign Currency Transactions		40,667
Net Increase in Net Assets Resulting from Operations	$	90,043

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

14

The Hartford Floating Rate Fund

Statement of Changes in Net Assets

(000’s Omitted)

	For the Six-Month
	Period Ended			For the
	April 30, 2009			Year Ended
	(Unaudited)			October 31, 2008
Operations:
Net investment income	$	49,376		$	177,819
Net realized loss on investments and foreign currency transactions		(226,260	)		(277,685	)
Net unrealized appreciation (depreciation) of investments and foreign currency transactions		266,927			(590,548	)
Net increase (decrease) in net assets resulting from operations		90,043			(690,414	)
Distributions to Shareholders:
From net investment income
Class A		(21,421	)		(76,620	)
Class B		(1,021	)		(2,991	)
Class C		(22,140	)		(71,154	)
Class I		(5,315	)		(16,773	)
Class R3		(20	)		(28	)
Class R4		(18	)		(24	)
Class R5		(1	)		(10	)
Class Y		(2,631	)		(6,697	)
Total distributions		(52,567	)		(174,297	)
Capital Share Transactions:
Class A		98,962			(918,574	)
Class B		(1,969	)		(14,370	)
Class C		(39,273	)		(608,974	)
Class I		41,822			(155,838	)
Class R3		532			436
Class R4		77			657
Class R5		(68	)		(76	)
Class Y		(28,036	)		26,618
Net increase (decrease) from capital share transactions		72,047			(1,670,121	)
Net increase (decrease) in net assets		109,523			(2,534,832	)
Net Assets:
Beginning of period		1,916,294			4,451,126
End of period	$	2,025,817		$	1,916,294
Accumulated undistributed net investment income	$	3,439		$	6,630

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

15

The Hartford Floating Rate Fund

Notes to Financial Statements
April 30, 2009 (Unaudited)
(000’s Omitted)

1.	Organization:
	The Hartford Mutual Funds, Inc. (“Company”) is an open-end management investment company comprised of fifty-two portfolios. Financial statements for The Hartford Floating Rate Fund (the “Fund”), a series of the Company, are included in this report.
	The Company is organized under the laws of the State of Maryland and is registered with the Securities and Exchange Commission (“SEC”) under the Investment Company Act of 1940, as amended (“1940 Act”). The Fund is a non-diversified open-end management investment company.
	Class A shares are sold with a front-end sales charge of up to 3.00%. Class B shares are sold with a contingent deferred sales charge which is assessed on the lesser of the per share net asset value (“NAV”) of the shares at the time of redemption or the original purchase price, and declines from up to 5.00% to zero depending on the period of time the shares are held. Class C shares are sold with a contingent deferred sales charge of up to 1.00% on shares redeemed within twelve months of purchase. Class I shares are sold without sales charges to certain eligible investors through advisory fee-based wrap programs. Classes R3, R4, R5 shares, which are offered to employer-sponsored retirement plans, and Class Y shares, which are sold to certain eligible institutional investors, are sold without a sales charge. All classes of shares have identical voting, redemption, dividend, liquidation and other rights and the same terms and conditions, with the exceptions that each class may have different expenses, which may affect performance, and except that Class B shares automatically convert to Class A shares after 8 years.
	Effective at the close of business on September 30, 2009 (the “Close Date”), no new or additional investments will be allowed in Class B shares of The Hartford Mutual Funds (including investments through any systematic investment plan). After the Close Date, existing shareholders of Class B shares may continue to hold their Class B shares, exchange their Class B shares for Class B shares of another Hartford Mutual Fund (as permitted by existing exchange privileges), and redeem their Class B shares as described in the Fund’s prospectus. Reinstatement privileges with respect to Class B shares will continue under the current policy. If you have chosen to reinvest capital gains and dividends, any such capital gains or dividends on Class B shares will continue to be reinvested in Class B shares of the Fund. For Class B shares outstanding as of the Close Date, all Class B share attributes, including the 12b-1 fee, contingent deferred sales charge schedule, and conversion to Class A shares remain unchanged.
2.	Significant Accounting Policies:
	The following is a summary of significant accounting policies of the Fund, which are in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”).

a)	Security Transactions and Investment Income — Security transactions are recorded on the trade date (the date the order to buy or sell is executed). Security gains and losses are determined on the basis of identified cost.
	Trade date for senior floating rate interests purchased in the primary market is considered the date on which the loan allocations are determined. Trade date for senior floating rate loan interests purchased in the secondary market is the date on which the transaction is entered into.
	Dividend income is accrued as of the ex-dividend date, except that certain dividends for foreign securities where the ex-dividend date may have passed are recorded as soon as the Fund is informed of the dividend in the exercise of reasonable diligence. Interest income, including amortization of premium and accretion of discounts, is accrued on a daily basis.
b)	Security Valuation — The Fund generally uses market prices in valuing portfolio securities. If market prices are not readily available or are deemed unreliable, the Fund will use the fair value of the security as determined in good faith under policies and procedures established by and under the supervision of the Fund’s Board of Directors. Market prices may be deemed unreliable, for example, if a security is thinly traded or if an event has occurred after the close of the

16

	security’s primary markets, but before the close of the New York Stock Exchange (the “Exchange”) (normally 4:00 p.m. Eastern Time, referred to as the “Valuation Time”) that is expected to affect the value of the portfolio security. The circumstances in which the Fund may use fair value pricing include, among others: (i) the occurrence of events that are significant to a particular issuer, such as mergers, restructuring or defaults; (ii) the occurrence of events that are significant to an entire market, such as natural disasters in a particular region or governmental actions; (iii) trading restrictions on securities; (iv) thinly traded securities and (v) market events such as trading halts and early market closings.
	Debt securities (other than short-term obligations and senior floating rate interests) held by the Fund are valued on the basis of valuations furnished by an independent pricing service which determines valuations for normal institutional size trading units of debt securities. Senior floating rate interests generally trade in over-the-counter markets and are priced through an independent pricing service utilizing independent market quotations from loan dealers or financial institutions. Securities for which prices are not available from an independent pricing service are valued using market quotations obtained from one or more dealers that make markets in the securities in accordance with procedures established by the Fund’s Board of Directors. Generally, the Fund may use fair valuation in regard to debt securities when the Fund holds defaulted or distressed securities or securities in a company in which a reorganization is pending. Short-term investments with a maturity of more than 60 days when purchased are valued based on market quotations until the remaining days to maturity become less than 61 days. Investments that mature in 60 days or less are valued at amortized cost, which approximates market value.
	Financial instruments for which prices are not available from an independent pricing service are valued using market quotations obtained from one or more dealers that make markets in securities in accordance with procedures established by the Fund’s Board of Directors.
	A forward currency contract shall be valued based on the price of the underlying currency at the prevailing interpolated exchange rate, which is a combination of the spot currency rate and the forward currency rate. Spot currency rates and forward currency rates are obtained from an independent pricing service on a daily basis not more than one hour before the Valuation Time.
	Other derivative or contractual type instruments shall be valued using market prices if such instruments trade on an exchange or market. If such instruments do not trade on an exchange or market, such instruments shall be valued at a price at which the counterparty to such contract would repurchase the instrument. In the event that the counterparty cannot provide a price, such valuation may be determined in accordance with procedures established by the Fund’s Board of Directors.
	Investments in open-end mutual funds are valued at the respective NAV of each open-end mutual fund on the valuation date.
c)	Joint Trading Account — Pursuant to an exemptive order issued by the SEC, the Fund may transfer uninvested cash balances into a joint trading account managed by Hartford Investment Management Company (“Hartford Investment Management”). These balances may be invested in one or more repurchase agreements and/or short-term money market instruments.
d)	Repurchase Agreements — A repurchase agreement is an agreement by which the seller of a security agrees to repurchase the security sold at a mutually agreed upon time and price. At the time the Fund enters into a repurchase agreement, the value of the underlying collateral security(ies), including accrued interest, will be equal to or exceed the value of the repurchase agreement. Securities that serve to collateralize the repurchase agreement are held by the Fund’s custodian in book entry or physical form in the custodial account of the Fund or in a third party custodial account. Repurchase agreements are valued at cost plus accrued interest. The Fund, as shown on the Schedule of Investments, had outstanding repurchase agreements as of April 30, 2009.

17

The Hartford Floating Rate Fund
Notes to Financial Statements – (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

e)	Fund Share Valuation and Dividend Distributions to Shareholders — Orders for the Fund’s shares are executed in accordance with the investment instructions of the shareholders. The NAV of the Fund’s shares is determined as of the close of each business day of the Exchange. The NAV is determined separately for each class of the Fund by dividing the Fund’s net assets attributable to that class by the number of shares of the class outstanding. Orders for the purchase of the Fund’s shares prior to the close of the Exchange on any day on which the Exchange is open for business are priced at the NAV determined as of the close of the Exchange. Orders after the close of the Exchange, or on a day on which the Exchange and/or the Fund is not open for business, are priced at the next determined NAV.
	The Fund intends to distribute substantially all of its net investment income and net realized capital gains to shareholders no less frequently than once a year. Normally, dividends from net investment income are declared daily and paid monthly. Dividends are paid on shares beginning on the business day after the day when the funds used to purchase the shares are collected by the transfer agent for the Fund. Unless shareholders specify otherwise, all dividends will be automatically reinvested in additional full or fractional shares of the Fund.
	Distributions from net investment income, realized capital gains and capital are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP with respect to character and timing. These differences include but are not limited to foreign currency gains and losses, losses deferred due to wash sales adjustments, adjustments related to Passive Foreign Investment Companies and certain derivatives, and excise tax regulations. Permanent book and federal income tax basis differences relating to shareholder distributions will result in reclassifications to certain of the Fund’s capital accounts (see Federal Income Taxes: Reclassification of Capital Accounts footnote).
f)	Illiquid and Restricted Securities — The Fund is permitted to invest up to 15% of its net assets in illiquid securities. “Illiquid Securities” are those that may not be sold or disposed of in the ordinary course of business within seven days, at approximately the price used to determine the Fund’s NAV. The Fund may not be able to sell illiquid securities or other investments when its sub-adviser considers it desirable to do so or may have to sell such securities or investments at a price that is lower than the price that could be obtained if the securities or investments were more liquid. A sale of illiquid securities or other investments may require more time and may result in higher dealer discounts and other selling expenses than does the sale of those that are liquid. Illiquid securities and investments also may be more difficult to value, due to the unavailability of reliable market quotations for such securities or investments, and investment in them may have an adverse impact on the Fund’s NAV. The Fund may also purchase certain restricted securities, commonly known as Rule 144A securities, that can be resold to institutions and which may be determined to be liquid pursuant to policies and guidelines established by the Fund’s Board of Directors. The Fund, as shown in the Schedule of Investments, had illiquid or restricted securities as of April 30, 2009.
g)	Securities Purchased on a When-Issued or Delayed-Delivery Basis — Delivery and payment for securities that have been purchased by the Fund on a forward commitment, or when-issued or delayed-delivery basis take place beyond the customary settlement period. During this period, such securities are subject to market fluctuations, and the Fund identifies securities segregated in its records with value at least equal to the amount of the commitment. As of April 30, 2009, the Fund had entered into outstanding when-issued or forward commitments with a cost of $123,141.
h)	Credit Risk — Credit risk depends largely on the perceived financial health of bond issuers. In general, the credit rating is inversely related to the credit risk of the issuer. Higher rated bonds generally are deemed to have less credit risk, while lower or unrated bonds are deemed to have higher risk of default. The share price, yield and total return of a Fund which holds securities with higher credit risk may fluctuate more than with less aggressive bond funds.
i)	Senior Floating Rate Interests — The Fund, as shown in the Schedule of Investments, may invest in senior floating rate interests. Senior floating rate interests hold the most senior position in the capital structure of a business entity (the “Borrower”), are typically secured by specific collateral and have a claim on the assets and/or stock of the Borrower that is senior to that held by subordinated debtholders and stockholders of the Borrower. Senior floating rate interests are typically structured and administered by a financial institution that acts as the agent of the lenders participating in the

18

	senior floating rate interest. Senior floating rate interests are typically rated below-investment-grade, which suggests they are more likely to default and generally pay higher interest rates than investment-grade loans. A default could lead to non-payment of income which would result in a reduction of income to the Fund and there can be no assurance that the liquidation of any collateral would satisfy the Borrower’s obligation in the event of non-payment of scheduled interest or principal payments, or that such collateral could be readily liquidated.
j)	Prepayment Risks — Most senior floating rate interests and certain debt securities allow for prepayment of principal without penalty. Senior floating rate interests and securities subject to prepayment risk generally offer less potential for gains when interest rates decline, and may offer a greater potential for loss when interest rates rise. In addition, with respect to securities, rising interest rates may cause prepayments to occur at a slower than expected rate, thereby effectively lengthening the maturity of the security and making the security more sensitive to interest rate changes. Prepayment risk is a major risk of mortgage-backed securities and certain asset-backed securities. Accordingly, the potential for the value of a senior floating rate interest or debt security to increase in response to interest rate declines is limited. For certain asset-backed securities, the actual maturity may be less than the stated maturity shown in the Schedule of Investments. As a result, the timing of income recognition relating to these securities may vary based upon the actual maturity.
	Senior floating rate interests or debt securities purchased to replace a prepaid loan or a debt security may have lower yields than the yield on the prepaid loan or debt security. Senior floating rate interests generally are subject to mandatory and/or optional prepayment. Because of these mandatory prepayment conditions and because there may be significant economic incentives for the Borrower to repay, prepayments of senior floating rate interests may occur. As a result, the actual remaining maturity of senior floating rate interests held may be substantially less than the stated maturities shown in the Schedule of Investments.
k)	Use of Estimates — The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and the reported amounts of income and expenses during the period. Operating results in the future could vary from the amounts derived from management’s estimates.
l)	Financial Accounting Standards Board Financial Accounting Standards No. 157 — Effective November 1, 2008, the Fund adopted Financial Accounting Standards Board (“FASB”) Statement of Financial Accounting Standards No. 157, “Fair Value Measurements” (“FAS 157”). This standard clarifies the definition of fair value for financial reporting, establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements. Fair value is defined under FAS 157 as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Under FAS 157, a fair value measurement should reflect all of the assumptions that market participants would use in pricing the asset or liability, including assumptions about the risk inherent in a particular valuation technique, the effect of a restriction on the sale or use of an asset, and the risk of nonperformance.
	Various inputs are used in determining the value of the Fund’s investment. These inputs are summarized, per FAS 157, into three broad hierarchy levels. This hierarchy is based on whether the valuation inputs are observable or unobservable. These levels are:

• Level 1 – Quoted prices in active markets for identical securities. Level 1 includes exchange-traded instruments such as domestic equities, some foreign equities, options, futures, mutual funds, ETF’s, and rights and warrants.

• Level 2 – Observable inputs other than Level 1 prices, such as quoted prices for similar securities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the security. Level 2 includes debt securities that are traded less frequently than exchange-traded instruments and that are valued using third party pricing services and foreign equities, whose value is determined using a multi-factor regression model with inputs that are observable in the market; and money market instruments, which are carried at amortized cost.

19

The Hartford Floating Rate Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

• Level 3 – Significant unobservable inputs that are supported by little or no market activity. Level 3 includes financial instruments whose values are determined using broker quotes and require significant management judgment or estimation. This category includes broker quoted securities, long dated OTC options and securities where trading has been halted or there are certain restrictions on trading. While these securities are priced using unobservable inputs, the valuation of these securities reflects the best available data and management believes the prices are a good representation of exit price.

	Individual securities within any of the above mentioned asset classes may be assigned a different hierarchical level than those presented above, as individual circumstances dictate.
	FAS 157 also requires that a roll forward reconciliation be shown for all Level 3 securities from the beginning of the reporting period to the end of the reporting period. Part of this reconciliation includes transfers in and/or out of Level 3. For purposes of this reconciliation, transfers in are shown at the end of period fair value and transfers out are shown at the beginning of period fair value.
	Refer to the valuation hierarchy levels summary and the Level 3 roll forward reconciliation found following the Schedule of Investments.
	FASB Staff Position No. 157-4 — In April 2009, FASB released FASB Staff Position No. 157-4, “Determining Fair Value When the Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly” (“FSP FAS 157-4”). FSP FAS 157-4 provides additional guidance on determining whether a market for a financial asset is not active and a transaction is not distressed when measuring fair value under FAS 157. The FSP also requires additional disclosure detail on debt and equity securities by major investment categories. FSP FAS 157-4 is effective for interim and annual periods ending after June 15, 2009. At this time, management is evaluating the implications of FSP FAS 157-4 and does not believe it will impact valuation but will require additional disclosure. This additional disclosure has not yet been implemented.
m)	Financial Accounting Standards Board Financial Accounting Standards No. 161 — In March 2008, the FASB released Statement of Financial Accounting Standards No. 161, “Disclosures about Derivative Instruments and Hedging Activities” (“FAS 161”). FAS 161 requires companies to disclose information detailing the objectives and strategies for using derivative instruments, the level of derivative activity entered into by the company and any credit risk-related contingent features of the agreements. The application of FAS 161 is required for fiscal years and interim periods beginning after November 15, 2008. At this time, management is evaluating the implications of FAS 161 and has not yet implemented the new disclosure standard.
n)	Indemnifications: Under the Company’s organizational documents, the Company shall indemnify its officers and directors to the full extent required or permitted under Maryland General Corporation Law and the federal securities law. In addition, the Company, on behalf of the Fund, may enter into contracts that contain a variety of indemnifications. The Company’s maximum exposure under these arrangements is unknown. However, the Company has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote.

3. Federal Income Taxes:

a) Federal Income Taxes — For federal income tax purposes, the Fund intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code (“IRC”) by distributing substantially all of its taxable net investment income and net realized capital gains to its shareholders and otherwise complying with the requirements of regulated investment companies. The Fund has distributed substantially all of its income and capital gains in prior years and the Fund intends to distribute substantially all of its income and gains during the calendar year ending December 31, 2009. Accordingly, no provision for federal income or excise taxes has been made in the accompanying financial statements. Distributions from short-term capital gains are treated as ordinary income distributions for federal income tax purposes.

20

b) The tax character of distributions paid by the Fund for the periods indicated is as follows (as adjusted for dividends payable):

	For the Year Ended		For the Year Ended
	October 31, 2008		October 31, 2007
Ordinary Income	$	179,028	$	252,120

As of October 31, 2008, the Fund’s components of distributable earnings (deficit) on a tax basis were as follows:

	Amount
Undistributed Ordinary Income	$	10,319
Accumulated Capital Losses*	$	(319,708	)
Unrealized Depreciation†	$	(738,445	)
Total Accumulated Deficit	$	(1,047,834	)

*	The Fund has capital loss carryforwards that are identified in the Capital Loss Carryforward note that follows.
†	The differences between book-basis and tax-basis unrealized appreciation (depreciation) are attributable to the tax deferral of wash sales losses, the mark-to-market adjustment for certain derivatives in accordance with IRC Sec. 1256, the mark to market for Passive Foreign Investment Companies and basis differences in real estate investment trusts.

c)

Reclassification of Capital Accounts — In accordance with American Institute of Certified Public Accountants (AICPA) Statement of Position 93-2, Determination, Disclosure, and Financial Statement Presentation of Income, Capital Gain, and Return of Capital Distributions by Investment Companies, the Fund has recorded reclassifications in its capital accounts. These reclassifications had no impact on the NAV of the Fund. The reclassifications are a result of permanent differences between GAAP and tax accounting for such items as net operating losses that reduce distribution requirements. Adjustments are made to reflect the impact these items have on current and future distributions to shareholders. Therefore, the source of the Fund’s distributions may be shown in the accompanying Statement of Changes in Net Assets as from net investment income, from net realized gains on investments or from capital depending on the type of book and tax differences that exist. As of October 31, 2008, the Fund recorded reclassifications to increase undistributed net investment income by $1,361 and decrease accumulated net realized loss by $1,361.

d)

Capital Loss Carryforward — At October 31, 2008 (tax-year-end), the Fund had capital loss carryforwards for U.S. federal income tax purposes of approximately:

Year	Amount
2014	$	1,227
2015		48,277
2016		270,204
Total	$	319,708

e) Financial Accounting Standards Board Interpretation No. 48 — On July 13, 2006, the FASB released FASB Interpretation No. 48 “Accounting for Uncertainty in Income Taxes” (“FIN 48”). FIN 48 provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. The Fund adopted FIN 48 for fiscal years beginning after December 15, 2006. Management has evaluated the implications of FIN 48 for all open tax years (tax years ended October 31, 2006 – 2008) and has determined there is no impact to the Fund’s financial statements.

21

The Hartford Floating Rate Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

4. Expenses:

a)

Investment Management Agreements — Hartford Investment Financial Services, LLC (“HIFSCO”) serves as investment manager to the Fund pursuant to an Investment Management Agreement with The Hartford Mutual Funds, Inc. As investment manager, HIFSCO has overall investment supervisory responsibility for the Fund. In addition, HIFSCO provides administrative personnel, services, equipment, facilities and office space for proper operation of the Fund. HIFSCO has contracted with Hartford Investment Management for the provision of day-to-day investment management services to the Fund in accordance with the Fund’s investment objective and policies. The Fund pays a fee to HIFSCO, a portion of which may be used to compensate Hartford Investment Management.

The schedule below reflects the rates of compensation paid to HIFSCO for investment management services rendered during the six-month period ended April 30, 2009; the rates are accrued daily and paid monthly:

Average Daily Net Assets	Annual Fee
On first $500 million		0.6500	%
On next $4.5 billion		0.6000	%
On next $5 billion		0.5800	%
Over $10 billion		0.5700	%

b) Accounting Services Agreement — Pursuant to the Fund Accounting Agreement between Hartford Life Insurance Company (“HLIC”) and the Fund, HLIC provides accounting services to the Fund and receives monthly compensation on the Fund’s average net assets. The Fund’s accounting service fees are accrued daily and paid monthly.

Average Daily Net Assets	Annual Fee
On first $5 billion		0.018	%
On next $5 billion		0.016	%
Over $10 billion		0.014	%

c) Operating Expenses — Allocable expenses incurred by the Company are allocated to each Fund and allocated to classes within the Fund in proportion to the average daily net assets of the Fund and each class, except where allocation of certain expenses is more fairly made directly to the Fund or to specific classes within a Fund. During the six-month period ended April 30, 2009, HIFSCO has permanently limited the total operating expenses of this Fund, exclusive of taxes, interest expense, brokerage commissions, certain distribution expenses and extraordinary expenses as follows:

Class A	Class B	Class C	Class I	Class R3	Class R4	Class R5	Class Y
1.00%	1.75%	1.75%	0.75%	1.25%	1.00%	0.85%	0.75%

d)	Fees Paid Indirectly — The Fund’s custodian bank has agreed to reduce its fees when the Fund maintains cash on deposit in the non-interest-bearing custody account. For the six-month period ended April 30, 2009, this amount is included in the Statement of Operations.
	The ratio of expenses to average net assets in the accompanying financial highlights excludes the reduction in expenses related to fees paid indirectly. Had the fees paid indirectly been included, the annualized expense ratio for the periods listed below would have been as follows:

22

	Annualized
	Six-Month
	Period			Year Ended			Year Ended			Year Ended			Year Ended
	Ended April			October 31,			October 31,			October 31,			October 31,
	30, 2009			2008			2007			2006			2005
Class A Shares		1.00	%		0.99	%		0.96	%		0.50	%		0.29	%*
Class B Shares		1.75			1.75			1.75			1.35			1.04	†
Class C Shares		1.75			1.75			1.74			1.28			1.02	‡
Class I Shares		0.75			0.74			0.71			0.43	§
Class R3 Shares		1.25			1.25			1.24	**
Class R4 Shares		1.00			1.00			1.00	††
Class R5 Shares		0.85			0.85			0.85	‡‡
Class Y Shares		0.72			0.69			0.68			0.15			0.01	§§

*	From April 29, 2005 (commencement of operations), through October 31, 2005
†	From April 29, 2005 (commencement of operations), through October 31, 2005
‡	From April 29, 2005 (commencement of operations), through October 31, 2005
§	From August 31, 2006 (commencement of operations), through October 31, 2006
**	From December 22, 2006 (commencement of operations), through October 31, 2007
††	From December 22, 2006 (commencement of operations), through October 31, 2007
‡‡	From December 22, 2006 (commencement of operations), through October 31, 2007
§§	From April 29, 2005 (commencement of operations), through October 31, 2005

e)	Distribution and Service Plan for Class A, B, C, R3 and R4 Shares — HIFSCO is the principal underwriter and distributor of the Fund. HIFSCO is engaged in distribution activities, which include marketing and distribution of shares through broker-dealers, financing distribution costs and maintaining financial books and records. For the six-month period ended April 30, 2009, HIFSCO received front-end load sales charges of $432 and contingent deferred sales charges of $291 from the Fund.
	The Fund has adopted Distribution and Service Plans in accordance with Rule 12b-1 of the Investment Company Act of 1940, as amended, to compensate the distributor (HIFSCO) for activities intended to result in the sale and distribution of Classes A, B, C, R3 and R4 shares and for providing services for shareholders. The Rule 12b-1 plan applicable to Class A shares of the Funds provides for payment of a Rule 12b-1 fee of up to 0.35% of average daily net assets; however, the Board of Directors has currently authorized 12b-1 payments of only up to 0.25%. Some or all of the fee may be used for shareholder servicing expenses with the remainder used for distribution expenses. Some or the entire Rule 12b-1 fee for Class B shares may be remitted to broker-dealers for distribution and/or shareholder account services. Under the Class B Plan, the Fund pays the distributor 1.00% of the average daily net assets of Class B shares that are outstanding for 8 years or less, 0.25% of which is a fee for services provided to existing shareholders with the remainder used for distribution expenses. After eight years, Class B shares convert to Class A shares. Upon conversion to Class A shares, the Class A plan described above will apply to those shares. Under the Class C Plan, the Fund pays the distributor 1.00% of the average daily net assets of Class C shares outstanding, 0.25% of which is intended as a fee for services provided to existing shareholders with the remainder used for distribution expenses. For Class C shares, some or the entire fee may be remitted to broker-dealers for distribution and/or shareholder account services. Class R3 shares have a distribution fee of 0.50% and Class R4 shares have a distribution fee of 0.25%. For Classes R3 and R4 shares, some or the entire fee may be remitted to broker dealers for distribution and/or shareholder account services. The Fund’s 12b-1 fees are accrued daily and paid monthly.
	For the six-month period ended April 30, 2009, total sales commissions paid to affiliated brokers/dealers of The Hartford for distributing the Fund’s shares were $26. These commissions are in turn paid to sales representatives of the broker/dealers.

23

The Hartford Floating Rate Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

f) Other Related Party Transactions — Certain officers of the Fund are directors and/or officers of HIFSCO and/or The Hartford or its subsidiaries. For the six-month period ended April 30, 2009, a portion of the Fund’s chief compliance officer’s salary was paid by the Fund in the amount of $3. Hartford Administrative Services Company (“HASCO”), an indirect wholly owned subsidiary of The Hartford, provides transfer agent services to the Fund. HASCO was compensated $846 for providing such services. These fees are accrued daily and paid monthly.

5.	Investment Transactions:
	For the six-month period ended April 30, 2009, the Fund’s aggregate purchases and sales of investment securities (excluding short-term investments) were as follows:

	Amount
Cost of Purchases Excluding U.S. Government Obligations	$	740,303
Sales Proceeds Excluding U.S. Government Obligations		503,490

6.	Capital Share Transactions:
	The following information is for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	For the Six-Month Period Ended April 30, 2009												For the Year Ended October 31, 2008
			Shares					Shares							Shares					Shares
			Issued for					Issued		Net Increase					Issued for					Issued		Net Increase
	Shares		Reinvested		Shares			from		(Decrease) of			Shares		Reinvested		Shares			from		(Decrease) of
	Sold		Dividends		Redeemed			Merger		Shares			Sold		Dividends		Redeemed			Merger		Shares
Class A
Shares		60,450		2,034		(48,520	)		—		13,964			42,614		5,242		(149,657	)		—		(101,801	)
Amount	$	409,361	$	13,580	$	(323,979	)	$	—	$	98,962		$	388,034	$	47,024	$	(1,353,632	)	$	—	$	(918,574	)
Class B
Shares		591		92		(982	)		—		(299	)		1,045		190		(2,862	)		—		(1,627	)
Amount	$	4,002	$	613	$	(6,584	)	$	—	$	(1,969	)	$	9,526	$	1,692	$	(25,588	)	$	—	$	(14,370	)
Class C
Shares		15,146		2,121		(23,505	)		—		(6,238	)		22,066		5,084		(95,489	)		—		(68,339	)
Amount	$	102,668	$	14,103	$	(156,044	)	$	—	$	(39,273	)	$	202,059	$	45,465	$	(856,498	)	$	—	$	(608,974	)
Class I
Shares		13,055		627		(7,590	)		—		6,092			22,355		1,270		(41,211	)		—		(17,586	)
Amount	$	88,050	$	4,188	$	(50,416	)	$	—	$	41,822		$	201,916	$	11,319	$	(369,073	)	$	—	$	(155,838	)
Class R3
Shares		99		3		(24	)		—		78			49		3		(5	)		—		47
Amount	$	670	$	20	$	(158	)	$	—	$	532		$	451	$	29	$	(44	)	$	—	$	436
Class R4
Shares		28		3		(18	)		—		13			85		3		(17	)		—		71
Amount	$	182	$	17	$	(122	)	$	—	$	77		$	782	$	25	$	(150	)	$	—	$	657
Class R5
Shares		—		—		(10	)		—		(10	)		1		1		(10	)		—		(8	)
Amount	$	1	$	1	$	(70	)	$	—	$	(68	)	$	6	$	9	$	(91	)	$	—	$	(76	)
Class Y
Shares		1,354		353		(5,894	)		—		(4,187	)		3,794		635		(1,350	)		—		3,079
Amount	$	9,083	$	2,342	$	(39,461	)	$	—	$	(28,036	)	$	32,823	$	5,625	$	(11,830	)	$	—	$	26,618

The following reflects the conversion of Class B Shares into Class A Shares (reflected as Class A Shares issued and Class B shares redeemed) for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	Shares		Dollars
For the Six-Month Period Ended April 30, 2009		48	$	324
For the Year Ended October 31, 2008		65	$	561

24

7.

Line of Credit:

The Fund is one of several Hartford Funds that participate in a $500 million committed revolving line of credit facility. The facility is to be used for temporary or emergency purposes. Under the arrangement, the Fund is required to own securities having a market value in excess of 300% of the total bank borrowings. The interest rate on borrowings varies depending on the nature of the loan. The facility also requires a fee to be paid based on the amount of the commitment. During the six-month period ended April 30, 2009, the Fund did not have any borrowings under this facility.

25

The Hartford Floating Rate Fund

Financial Highlights — (Unaudited)

	- Selected Per-Share Data - (a)																														- Ratios and Supplemental Data -
																																	Ratio of			Ratio of			Ratio of
																																	Expenses			Expenses			Expenses
																																	to Average			to Average			to Average
																																	Net Assets			Net Assets			Net Assets
							Net																										Before			After			After
							Realized																										Waivers			Waivers			Waivers
							and Un-																										and			and			and
							realized									Distrib-							Net										Reimburse-			Reimburse-			Reimburse-			Ratio of
			Net		Pay-		Gain						Dividends			utions							Increase			Net							ments and			ments and			ments and			Net Invest-			Port-
	Net Asset		Invest-		ments		(Loss)						from Net			from		Distri-					(Decrease)			Asset					Net Assets		Including			Including			Excluding			ment			folio
	Value at		ment		from		on			Total from			Invest-			Realized		butions		Total			in Net			Value at					at End of		Expenses			Expenses			Expenses			Income to			Turn-
	Beginning		Income		(to)		Invest-			Investment			ment			Capital		from		Distri-			Asset			End of		Total			Period		not Subject			not Subject			not Subject			Average			over
Class	of Period		(Loss)		Affiliate		ments			Operations			Income			Gains		Capital		butions			Value			Period		Return(b)			(000’s)		to Cap(c)			to Cap(c)			to Cap(c)			Net Assets			Rate(d)
For the Six-Month Period Ended April 30, 2009 (Unaudited) (e)
A	$	7.13	$	0.20	$	—	$	0.17		$	0.37		$	(0.21	)	$	—	$	—	$	(0.21	)	$	0.16		$	7.29		5.58	%(f)	$	846,236		1.06	%(g)		1.00	%(g)		1.00	%(g)		6.18	%(g)		33	%
B		7.13		0.18		—		0.16			0.34			(0.19	)		—		—		(0.19	)		0.15			7.28		5.04	(f)		39,126		1.90	(g)		1.75	(g)		1.75	(g)		5.47	(g)		—
C		7.13		0.18		—		0.16			0.34			(0.19	)		—		—		(0.19	)		0.15			7.28		5.04	(f)		849,711		1.82	(g)		1.75	(g)		1.75	(g)		5.47	(g)		—
I		7.13		0.21		—		0.17			0.38			(0.22	)		—		—		(0.22	)		0.16			7.29		5.69	(f)		219,084		0.79	(g)		0.75	(g)		0.75	(g)		6.44	(g)		—
R3		7.14		0.19		—		0.17			0.36			(0.21	)		—		—		(0.21	)		0.15			7.29		5.29	(f)		1,121		1.52	(g)		1.25	(g)		1.25	(g)		5.88	(g)		—
R4		7.13		0.21		—		0.15			0.36			(0.21	)		—		—		(0.21	)		0.15			7.28		5.43	(f)		619		1.20	(g)		1.00	(g)		1.00	(g)		6.14	(g)		—
R5		7.15		0.20		—		0.16			0.36			(0.22	)		—		—		(0.22	)		0.14			7.29		5.36	(f)		18		0.99	(g)		0.85	(g)		0.85	(g)		6.39	(g)		—
Y		7.13		0.21		—		0.16			0.37			(0.22	)		—		—		(0.22	)		0.15			7.28		5.58	(f)		69,902		0.72	(g)		0.72	(g)		0.72	(g)		6.53	(g)		—
For the Year Ended October 31, 2008
A		9.79		0.55		—		(2.68	)		(2.13	)		(0.53	)		—		—		(0.53	)		(2.66	)		7.13		(22.71	)		728,882		0.99			0.99			0.99			6.02			18
B		9.79		0.47		—		(2.67	)		(2.20	)		(0.46	)		—		—		(0.46	)		(2.66	)		7.13		(23.30	)		40,440		1.81			1.75			1.75			5.23			—
C		9.78		0.47		—		(2.66	)		(2.19	)		(0.46	)		—		—		(0.46	)		(2.65	)		7.13		(23.24	)		876,501		1.75			1.75			1.75			5.25			—
I		9.79		0.57		—		(2.68	)		(2.11	)		(0.55	)		—		—		(0.55	)		(2.66	)		7.13		(22.51	)		171,007		0.74			0.74			0.74			6.28			—
R3		9.79		0.52		—		(2.66	)		(2.14	)		(0.51	)		—		—		(0.51	)		(2.65	)		7.14		(22.80	)		544		1.45			1.25			1.25			5.63			—
R4		9.78		0.54		—		(2.66	)		(2.12	)		(0.53	)		—		—		(0.53	)		(2.65	)		7.13		(22.63	)		515		1.15			1.00			1.00			5.71			—
R5		9.81		0.56		—		(2.68	)		(2.12	)		(0.54	)		—		—		(0.54	)		(2.66	)		7.15		(22.55	)		90		0.86			0.85			0.85			6.24			—
Y		9.78		0.57		—		(2.66	)		(2.09	)		(0.56	)		—		—		(0.56	)		(2.65	)		7.13		(22.39	)		98,315		0.69			0.69			0.69			6.23			—
For the Year Ended October 31, 2007
A		10.11		0.66		—		(0.31	)		0.35			(0.67	)		—		—		(0.67	)		(0.32	)		9.79		3.54			1,996,644		0.96			0.96			0.96			6.61			62
B		10.11		0.58		—		(0.31	)		0.27			(0.59	)		—		—		(0.59	)		(0.32	)		9.79		2.72			71,403		1.80			1.75			1.75			5.84			—
C		10.11		0.59		—		(0.32	)		0.27			(0.60	)		—		—		(0.60	)		(0.33	)		9.78		2.67			1,870,911		1.74			1.74			1.74			5.86			—
I		10.11		0.70		—		(0.32	)		0.38			(0.70	)		—		—		(0.70	)		(0.32	)		9.79		3.84			406,906		0.71			0.71			0.71			6.88			—
R3(h)		10.09		0.54		—		(0.31	)		0.23			(0.53	)		—		—		(0.53	)		(0.30	)		9.79		2.31	(f)		285		1.75	(g)		1.25	(g)		1.25	(g)		6.59	(g)		—
R4(i)		10.09		0.56		—		(0.32	)		0.24			(0.55	)		—		—		(0.55	)		(0.31	)		9.78		2.42	(f)		10		1.18	(g)		1.00	(g)		1.00	(g)		6.58	(g)		—
R5(j)		10.09		0.58		—		(0.29	)		0.29			(0.57	)		—		—		(0.57	)		(0.28	)		9.81		2.90	(f)		205		0.86	(g)		0.85	(g)		0.85	(g)		6.81	(g)		—
Y		10.11		0.69		—		(0.32	)		0.37			(0.70	)		—		—		(0.70	)		(0.33	)		9.78		3.73			104,762		0.68			0.68			0.68			6.92			—
For the Year Ended October 31, 2006
A		10.09		0.62		—		0.02			0.64			(0.62	)		—		—		(0.62	)		0.02			10.11		6.56			1,500,394		0.98			0.50			0.50			6.71			33
B		10.08		0.54		—		0.03			0.57			(0.54	)		—		—		(0.54	)		0.03			10.11		5.79			42,182		1.83			1.35			1.35			5.84			—
C		10.08		0.55		—		0.03			0.58			(0.55	)		—		—		(0.55	)		0.03			10.11		5.86			828,910		1.77			1.28			1.28			5.93			—
I(k)		10.11		0.12		—		—			0.12			(0.12	)		—		—		(0.12	)		—			10.11		1.21	(f)		61,805		0.74	(g)		0.43	(g)		0.43	(g)		7.99	(g)		—
Y		10.08		0.66		—		0.02			0.68			(0.65	)		—		—		(0.65	)		0.03			10.11		7.00			50,896		0.65			0.15			0.15			6.89			—
From (commencement of operations) April 29, 2005, through October 31, 2005
A(l)		10.00		0.22		—		0.08			0.30			(0.21	)		—		—		(0.21	)		0.09			10.09		3.06	(f)		169,485		1.03	(g)		0.29	(g)		0.29	(g)		5.68	(g)		15
B(m)		10.00		0.19		—		0.08			0.27			(0.19	)		—		—		(0.19	)		0.08			10.08		2.66	(f)		5,659		1.89	(g)		1.04	(g)		1.04	(g)		4.91	(g)		—
C(n)		10.00		0.18		—		0.09			0.27			(0.19	)		—		—		(0.19	)		0.08			10.08		2.67	(f)		92,710		1.79	(g)		1.02	(g)		1.02	(g)		5.03	(g)		—
Y(o)		10.00		0.23		—		0.08			0.31			(0.23	)		—		—		(0.23	)		0.08			10.08		3.10	(f)		10,062		0.73	(g)		0.01	(g)		0.01	(g)		6.06	(g)		—

(a)	Information presented relates to a share outstanding throughout the indicated period.
(b)	Assumes initial investment at net asset value at the beginning of each period, reinvestment of all distributions, the complete redemption of the investment at net asset value at the end of each period and no sales charge. Total return would be reduced if sales charges were taken into account.
(c)	Ratios do not include fees paid indirectly (See Expenses in the accompanying Notes to Financial Statements).
(d)	Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between the classes of shares issued.
(e)	Per share amounts have been calculated using average shares outstanding method.
(f)	Not annualized.
(g)	Annualized.
(h)	Commenced operations on December 22, 2006.
(i)	Commenced operations on December 22, 2006.
(j)	Commenced operations on December 22, 2006.
(k)	Commenced operations on August 31, 2006.
(l)	Commenced operations on April 29, 2005.
(m)	Commenced operations on April 29, 2005.
(n)	Commenced operations on April 29, 2005.
(o)	Commenced operations on April 29, 2005.

26

The Hartford Floating Rate Fund

Directors and Officers (Unaudited)

The Board of Directors appoints officers who are responsible for the day-to-day operations of the Fund and who execute policies formulated by the Directors. Each director serves until his or her death, resignation, or retirement or until the next annual meeting of shareholders is held or until his or her successor is elected and qualifies.

Directors and officers who are employed by or who have a financial interest in The Hartford are considered “interested” persons of the Fund pursuant to the Investment Company Act of 1940, as amended. Each officer and three of the Fund’s directors, as noted in the chart below, are “interested” persons of the Fund. Each director serves as a director for The Hartford Mutual Funds, Inc., The Hartford Mutual Funds II, Inc., The Hartford Income Shares Fund, Inc., Hartford Series Fund, Inc., and Hartford HLS Series Fund II, Inc., which collectively consist of 100 funds. Correspondence may be sent to directors and officers c/o Hartford Mutual Funds, P.O. Box 2999, Hartford, Connecticut 06104-2999, except that correspondence to Ms. Fagely may be sent to 500 Bielenberg Drive, Woodbury, Minnesota 55125.

The table below sets forth, for each director and officer, his or her name, year of birth, current position with the Fund and date first elected or appointed to The Hartford Mutual Funds, Inc. (“MF”) and The Hartford Mutual Funds II, Inc. (“MF2”), principal occupation, and, for directors, other directorships held. The Fund’s statement of additional information contains further information on the directors and is available free of charge by calling 1-888-843-7824 or writing to Hartford Mutual Funds, P.O. Box 64387, St. Paul, MN 55164-0387.

Information on the aggregate remuneration paid to the directors of the Fund can be found in the Statement of Operations herein. The Fund pays a portion of the Chief Compliance Officer’s compensation, but does not pay salaries or compensation to any of its officers or directors who are employed by The Hartford.

Non-Interested Directors

Lynn S. Birdsong (1946) Director since 2003, Co-Chairman of the Investment Committee

Mr. Birdsong is a private investor. Since 1981, Mr. Birdsong has been a partner in Birdsong Company, an advertising specialty firm. Since 2003, Mr. Birdsong has been an independent director of The Japan Fund. From 2003 to March 2005, Mr. Birdsong was an independent director of the Atlantic Whitehall Funds. From 1979 to 2002, Mr. Birdsong was a managing director of Zurich Scudder Investments, an investment management firm. During his employment with Scudder, Mr. Birdsong was an interested director of The Japan Fund.

Robert M. Gavin, Jr. (1940) Director since 2002 (MF) and 1986 (MF2), Chairman of the Board since 2004

Dr. Gavin is an educational consultant. Prior to September 1, 2001, he was President of Cranbrook Education Community and prior to July 1996, he was President of Macalester College, St. Paul, Minnesota.

Duane E. Hill (1945) Director since 2001 (MF) and 2002 (MF2), Chairman of the Nominating Committee

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

Sandra S. Jaffee (1941) Director since 2005

Ms. Jaffee is Chairman and Chief Executive Officer of Fortent (formerly Searchspace Group), a leading provider of compliance/regulatory technology to financial institutions. Ms. Jaffee served as an Entrepreneur in Residence with Warburg Pincus, a private equity firm, from August 2004 to August 2005. From September 1995 to July 2004, Ms. Jaffee served as Executive Vice President at Citigroup, where she was President and Chief Executive Officer of Citibank’s Global Securities Services (1995-2003).

William P. Johnston (1944) Director since 2005, Chairman of the Compliance Committee

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

27

The Hartford Floating Rate Fund
Directors and Officers (Unaudited) – (continued)

Phillip O. Peterson (1944) Director since 2002 (MF) and 2000 (MF2), Chairman of the Audit Committee

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

Lemma W. Senbet (1946) Director since 2005

Dr. Senbet is the William E. Mayer Chair Professor of Finance at the University of Maryland, Robert H. Smith School of Business. He was chair of the Finance Department during 1998-2006. Previously he was an endowed professor of finance at the University of Wisconsin-Madison. Also, he was director of the Fortis Funds from March 2000-July 2002. Dr. Senbet served the finance profession in various capacities, including as director of the American Finance Association and President of the Western Finance Association. In 2006, Dr. Senbet was inducted Fellow of Financial Management Association International for his career-long distinguished scholarship and professional service.

Interested Directors and Officers

Thomas M. Marra* (1958) Director since 2002

Mr. Marra has served as President and Chief Operating Officer of The Hartford Financial Services Group, Inc. (“The Hartford”) since 2007. Mr. Marra currently serves as Director of Hartford Life, Inc. (“HL, Inc.”). Mr. Marra served as Chief Operating Officer of Hartford Life Insurance Company, Inc. (“Hartford Life”) (2000-2008), as President of Hartford Life (2002-2008) and as Director of Hartford Life’s Investment Products Division from 1998 to 2000.

* On February 24, 2009, The Hartford and Mr. Marra determined to enter into a mutually agreed separation whereby Mr. Marra will retire, and his role as an executive officer and employee of The Hartford will terminate, effective July 3, 2009. Mr. Marra will resign his position as a Director of the Fund effective June 25, 2009.

Lowndes A. Smith (1939) Director since 2002, Co-Chairman of the Investment Committee

Mr. Smith served as Vice Chairman of The Hartford from February 1997 to January 2002, as President and Chief Executive Officer of Hartford Life, Inc. from February 1997 to January 2002, and as President and Chief Operating Officer of The Hartford Life Insurance Companies from January 1989 to January 2002. Mr. Smith serves as a Director of White Mountains Insurance Group, Ltd., One Beacon Insurance, Symetra Financial and as a Managing Director of Whittington Gray Associates.

John C. Walters* (1962) Director since 2008

Mr. Walters currently serves as Chief Executive Officer, President and Director of HL, Inc. Mr. Walters previously served as President of the U.S. Wealth Management Division of Hartford Life, Inc., as Co-Chief Operating Officer of Hartford Life Insurance Company (2007-2008) and as Executive Vice President and Director of its Investment Products Division (2000-2008). Mr. Walters also serves as Chairman of the Board, Chief Executive Officer, President and Director of Hartford Life Insurance Company and as Executive Vice President of The Hartford. In addition, Mr. Walters is Manager of HL Investment Advisors, LLC (“HL Advisors”).

* Mr. Walters previously served as President and Chief Executive Officer of the Fund (2007 – 2009).

Other Officers

Robert M. Arena, Jr. (1968) President and Chief Executive Officer since 2009 (served as Vice President of the Fund (2006 – 2009))

Mr. Arena serves as Executive Vice President of Hartford Life Insurance Company, (“Hartford Life”). Additionally, Mr. Arena is Director and Senior Vice President of Hartford Administrative Services Company, (“HASCO”), Manager, Chief Executive Officer and President of Hartford Investment Financial Services, LLC (“HIFSCO”) and HL Advisors. Prior to joining The Hartford in 2004, he was Senior Vice President in charge of Product Management for American Skandia/Prudential in the individual annuities division. Mr. Arena joined American Skandia in 1996.

Tamara L. Fagely (1958) Vice President, Treasurer and Controller since 2002 (MF) 1993 (MF2)

Ms. Fagely has been a Vice President of HASCO since 1998 and Chief Financial Officer since 2006. Currently Ms. Fagely is a Vice President of Hartford Life. She served as Assistant Vice President of Hartford Life from December 2001 through March 2005. In addition, Ms. Fagely is Controller and Chief Financial Officer of HIFSCO.

Brian Ferrell (1962) AML Compliance Officer since 2008

Mr. Ferrell has served as Assistant Vice President and AML Compliance Officer for The Hartford since 2006 and as AML Compliance Officer for HASCO and Hartford Investor Services Company, LLC (“HISC”) since 2008. Prior to joining The Hartford in 2006, Mr. Ferrell held various positions at the U.S. Department of the Treasury, (the “Treasury”), from 2001 to 2006 where he served as Chief Counsel for the Treasury’s Financial Crimes Enforcement Network, (“FinCEN”) from 2005 – 2006.

28

Thomas D. Jones, III (1965) Vice President and Chief Compliance Officer since 2006

Mr. Jones serves as Chief Compliance Officer for the Hartford Mutual Funds and Vice President and Director of Securities Compliance for The Hartford. He is also Vice President of HIFSCO, HL Advisors, and Hartford Life Insurance Company. Mr. Jones joined The Hartford in 2006 from SEI Investments, where he served as Chief Compliance Officer for its mutual funds and investment advisers. Prior to joining SEI, Mr. Jones was First Vice President and Compliance Director for Merrill Lynch Investment Managers (Americas) (“MLIM”), where he worked from 1992-2004. At MLIM, Mr. Jones was responsible for the compliance oversight of various investment products, including mutual funds, wrap accounts, institutional accounts and alternative investments.

Edward P. Macdonald (1967) Vice President, Secretary and Chief Legal Officer since 2005

Mr. Macdonald serves as Assistant General Counsel and Assistant Vice President of The Hartford and Chief Legal Officer and Vice President of HIFSCO. He also serves as Vice President and Secretary of HASCO, Assistant Vice President of Hartford Life, and Chief Legal Officer, Secretary and Vice President of HL Advisors. Prior to joining The Hartford in 2005, Mr. Macdonald was Chief Counsel, Investment Management for Prudential Financial (formerly American Skandia Investment Services, Inc.). He joined Prudential in April 1999.

Vernon J. Meyer (1964) Vice President since 2006

Mr. Meyer serves as Senior Vice President of Hartford Life and as Director of its Investment Advisory Group in the Individual Markets Group segment. He also serves as Senior Vice President of HIFSCO and HL Advisors. Prior to joining The Hartford in 2004, Mr. Meyer was with MassMutual which he joined in 1987.

D. Keith Sloane (1960) Vice President since 2009

Mr. Sloane is a Senior Vice President of Hartford Life where he serves as Director of mutual fund product management for The Hartford’s mutual funds and 529 college savings businesses. Additionally, Mr. Sloane currently serves as Senior Vice President of HIFSCO, HL Advisors, and HASCO. Prior to joining The Hartford in 2007, Mr. Sloane was Director of product marketing and led the mutual fund business for Wachovia Securities (“Wachovia”) in their investment products group. Mr. Sloane joined Wachovia in 1995.

Jane Wolak (1961) Vice President since 2009

Ms. Wolak currently serves as Vice President of Hartford Life. Ms. Wolak joined Hartford Life as Vice President, Retail Product Services in May 2007. She is also Vice President of HASCO. Previously, Ms. Wolak was with Sun Life Financial where she held the position of Vice President, Service Center Operations from 2001 – 2007.

HOW TO OBTAIN A COPY OF THE FUND’S PROXY VOTING POLICIES AND VOTING RECORDS

A description of the policies and procedures that the Fund uses to determine how to vote proxies relating to portfolio securities and a record of how the Fund voted any proxies for the twelve-month period ended June 30, 2008 is available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov.

QUARTERLY PORTFOLIO HOLDINGS INFORMATION

The Fund files a complete schedule of portfolio holdings with the Commission for the first and third quarters of each fiscal year on Form N-Q. The Fund’s Forms are available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov. The Form N-Q may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330.

29

The Hartford Floating Rate Fund

Expense Example (Unaudited)

Your Fund’s Expenses

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments and contingent deferred sales charges (CDSC) (2) ongoing costs including management fees; distribution fees; and other fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the period of October 31, 2008 through April 30, 2009.

Actual Expenses

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

Hypothetical Example for Comparison Purposes

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

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads) and CDSC. Therefore, the second line 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 are equal to the Fund’s annualized expense ratios multiplied by average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

	Actual return						Hypothetical (5% return before expenses)
					Expenses paid						Expenses paid					Days in
					during the period						during the period					the		Days
	Beginning		Ending Account		October 31, 2008		Beginning		Ending Account		October 31,		Annualized			current		in the
	Account Value		Value		through		Account Value		Value		2008 through		expense			1/2		full
	October 31, 2008		April 30, 2009		April 30, 2009		October 31, 2008		April 30, 2009		April 30, 2009		ratio			year		year
Class A	$	1,000.00	$	1,055.75	$	5.09	$	1,000.00	$	1,019.83	$	5.00		1.00	%		181		365
Class B	$	1,000.00	$	1,050.39	$	8.89	$	1,000.00	$	1,016.11	$	8.74		1.75			181		365
Class C	$	1,000.00	$	1,050.42	$	8.89	$	1,000.00	$	1,016.11	$	8.74		1.75			181		365
Class I	$	1,000.00	$	1,056.89	$	3.82	$	1,000.00	$	1,021.07	$	3.75		0.75			181		365
Class R3	$	1,000.00	$	1,052.92	$	6.36	$	1,000.00	$	1,018.59	$	6.25		1.25			181		365
Class R4	$	1,000.00	$	1,054.30	$	5.09	$	1,000.00	$	1,019.83	$	5.00		1.00			181		365
Class R5	$	1,000.00	$	1,053.57	$	4.32	$	1,000.00	$	1,020.57	$	4.25		0.85			181		365
Class Y	$	1,000.00	$	1,055.84	$	3.67	$	1,000.00	$	1,021.22	$	3.60		0.72			181		365

30

The Hartford Fundamental Growth Fund

Table of Contents

Manager Discussions (Unaudited)	2
Financial Statements
Schedule of Investments at April 30, 2009 (Unaudited)	4
Statement of Assets and Liabilities at April 30, 2009 (Unaudited)	6
Statement of Operations for the Six Month Period Ended April 30, 2009 (Unaudited)	7
Statement of Changes in Net Assets for the Six Month Period Ended April 30, 2009 (Unaudited) and the Year Ended October 31, 2008	8
Notes to Financial Statements (Unaudited)	9
Financial Highlights (Unaudited)	18
Directors and Officers (Unaudited)	19
How to Obtain a Copy of the Fund’s Proxy Voting Policies and Proxy Voting Records (Unaudited)	21
Quarterly Portfolio Holdings Information (Unaudited)	21
Expense Example (Unaudited)	22

The Hartford Fundamental Growth Fund

(subadvised by Wellington Management Company, LLP)

Performance Overview(1) 5/24/01—4/30/09

Growth of a $10,000 investment in Class A which includes Sales Charge

Russell 1000 Growth Index is an unmanaged index which measures the performance of those Russell 1000 Index companies with higher price-to-book ratios and higher forecasted growth values.

You cannot invest directly in an index.

The value of shares will fluctuate so that, when redeemed, shares may be worth more or less than their original cost. The chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.

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

Investment objective—Seeks long-term capital appreciation.

Average Annual Total Returns(2,3) (as of 4/30/09)

	Inception		1			5			Since
	Date		Year			Year			Inception
Fundamental Growth A#		5/24/01		-36.18	%		-1.75	%		-2.13	%
Fundamental Growth A##		5/24/01		-39.69	%		-2.85	%		-2.82	%
Fundamental Growth B#		5/24/01		-36.65	%		-2.48	%		-2.84	%
Fundamental Growth B##		5/24/01		-39.82	%		-2.83	%		-2.84	%
Fundamental Growth C#		5/24/01		-36.71	%		-2.46	%		-2.84	%
Fundamental Growth C##		5/24/01		-37.34	%		-2.46	%		-2.84	%
Fundamental Growth Y#		5/24/01		-35.85	%		-1.28	%		-1.67	%

#	Without sales charge
##	With sales charge

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)	Growth of a $10,000 investment in Classes B, C and Y shares will vary from results seen above due to differences in the expenses charged to these share classes.
(2)	The initial investment in Class A shares reflects the maximum sales charge and Classes B and C reflect CDSC.
(3)	Total returns presented above were calculated using the Fund’s net asset value available to shareholders for sale or redemption of Fund shares on April 30, 2009, which excludes investment transactions as of this date.

Portfolio Manager
Francis J. Boggan, CFA
Senior Vice President, Partner

How did the Fund perform?

The Class A shares of The Hartford Fundamental Growth Fund returned -2.11%, before sales charge, for the six-month period ended April 30, 2009, underperforming its benchmark, the Russell 1000 Growth Index, which returned -1.52% for the same period. The Fund also slightly underperformed the - -1.99% return of the average fund in the Lipper Large Cap Growth Funds peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

After posting steep losses in 2008 and the first part of 2009 amid increasing signs of a deeper and more protracted recession, U.S. equities staged a sharp rebound in March as favorable news flow from a few large financial institutions signaled to investors that the troubled Financials sector may be starting to stabilize. Adding fuel to the recovery was the U.S. Treasury Department’s updated plan to clean up bank balance sheets.

In this environment, mid cap stocks (-0.2%) outperformed small (-8.4%) and large cap stocks (-8.5%), as measured by the S&P MidCap 400, Russell 2000 and S&P 500 indices, respectively. Growth stocks (-2%) significantly outperformed Value stocks

2

(-13%), as measured by the Russell 1000 Growth and Russell 1000 Value indexes, respectively. Within the Russell 1000 Growth Index, four of the ten broad economic sectors posted positive returns. Materials (8%) and Consumer Discretionary (7%) had the strongest returns while Financials (-11%) and Energy (-9%) lagged the most.

The Fund underperformed the benchmark during the period due to weak stock selection across several sectors, particularly Health Care, Materials and Financials. Sector positioning, a result of bottom-up (i.e. stock by stock fundamental research) stock selection, contributed modestly to benchmark-relative (i.e. performance of the Fund as measured against the benchmark) returns but not enough to offset results from stock selection. Our overweight (i.e. the Fund’s sector position was greater than the benchmark position) allocations to Information Technology, Health Care and Telecommunication Services and our underweight (i.e. the Fund’s sector position was less than the benchmark position) to Consumer Staples contributed the most to relative returns.

The three largest detractors from benchmark-relative performance were AFLAC (Financials), NII Holdings (Telecommunication Services) and JPMorgan Chase (Financials). Shares of AFLAC, a supplemental health and life insurance company, declined due to continued investor concerns over the company’s investment portfolio of European financial hybrid debt securities. We eliminated our position in NII Holdings, a wireless communication services provider in Mexico, Brazil, Argentina and Peru, amid concerns over the effects of a global economic slowdown on Latin American economies. Shares of global diversified bank JPMorgan Chase declined due to the company’s exposures to consumer and large corporate credit. We eliminated our position in the stock during the period. A notable detractor from absolute (i.e. total return) returns was Genzyme (Health Care).

Top contributors to relative and absolute performance included Kohl’s (Consumer Discretionary), Flowserve (Industrials) and Petrol Brasilieros (Energy). Shares of Kohl’s, a family-focused, value-oriented specialty department store, rose following better-than-expected sales results and as investors began to anticipate a potential recovery in consumer spending. Shares of Flowserve, a manufacturer of flow control systems for the power, oil & gas, and chemical industries, rallied as investors’ concerns eased over the company’s capital expenditures across their end markets. Brazilian oil and gas exploration and producer Petrol Brasilieros benefited as oil prices rallied and investors focused on the firm’s large upstream potential.

What is the outlook?

While investors have stopped worrying—for the moment—about the solvency of the banking system and the freezing of global credit, that concern has shifted to implications of government involvement in private enterprise and the troubling trajectories of unemployment and corporate profits. The Fund seeks to add value through bottom-up security selection, with a goal of creating a diversified portfolio of high-quality growth companies with attractive valuations. Investment decisions are based primarily on independent, bottom-up, fundamental research. As of the end of the period, the Fund was most overweight Information Technology, Financials, and Energy and most underweight Consumer Staples, Industrials, and Utilities relative to the Russell 1000 Growth Index.

Diversification by Industry
as of April 30, 2009

	Percentage of
Industry	Net Assets
Capital Goods		8.5	%
Consumer Durables & Apparel		3.2
Consumer Services		1.2
Diversified Financials		2.1
Energy		10.0
Food & Staples Retailing		4.4
Food, Beverage & Tobacco		2.2
Health Care Equipment & Services		5.6
Household & Personal Products		1.8
Insurance		3.8
Materials		3.4
Media		1.1
Pharmaceuticals, Biotechnology & Life Sciences		7.8
Retailing		5.1
Semiconductors & Semiconductor Equipment		3.6
Software & Services		15.4
Technology Hardware & Equipment		18.1
Telecommunication Services		1.1
Transportation		1.0
Short-Term Investments		1.4
Other Assets and Liabilities		(0.8	)
Total		100.0	%

3

The Hartford Fundamental Growth Fund

Schedule of Investments
April 30, 2009 (Unaudited)
(000’s Omitted)

Shares or Principal Amount			Market Value ╪
COMMON STOCKS—99.4%
		Capital Goods—8.5%
	23	Deere & Co.	$	941
	14	Flowserve Corp.		930
	30	Honeywell International, Inc.		927
	13	Precision Castparts Corp.		936
				3,734
		Consumer Durables & Apparel—3.2%
	26	Coach, Inc. •		625
	17	D.R. Horton, Inc.		219
	10	NIKE, Inc. Class B		545
				1,389
		Consumer Services—1.2%
	10	McDonald’s Corp.		528
		Diversified Financials—2.1%
	22	Ameriprise Financial, Inc.		587
	3	Goldman Sachs Group, Inc.		347
				934
		Energy—10.0%
	12	Apache Corp.		896
	29	Atwood Oceanics, Inc. •		654
	9	Hess Corp.		504
	16	Marathon Oil Corp.		472
	13	Nabors Industries Ltd. •		201
	18	National Oilwell Varco, Inc. •		536
	14	Petroleo Brasileiro S.A. ADR		463
	3	Transocean, Inc. •		189
	11	Ultra Petroleum Corp. •		471
				4,386
		Food & Staples Retailing—4.4%
	39	CVS/Caremark Corp.		1,236
	13	Wal-Mart Stores, Inc.		676
				1,912
		Food, Beverage & Tobacco—2.2%
	10	PepsiCo, Inc.		517
	12	Philip Morris International, Inc.		427
				944
		Health Care Equipment & Services—5.6%
	13	Covidien Ltd.		439
	17	Medtronic, Inc.		531
	12	St. Jude Medical, Inc. •		402
	27	UnitedHealth Group, Inc.		630
	11	Wellpoint, Inc. •		479
				2,481
		Household & Personal Products—1.8%
	16	Procter & Gamble Co.		771
		Insurance—3.8%
	36	Aflac, Inc.		1,049
	64	Assured Guaranty Ltd.		622
				1,671
		Materials—3.4%
	6	Freeport-McMoRan Copper & Gold, Inc.		252
	7	Monsanto Co.		620
	7	Potash Corp. of Saskatchewan, Inc.		614
				1,486
		Media—1.1%
	21	Walt Disney Co		464
		Pharmaceuticals, Biotechnology & Life Sciences—7.8%
	10	Abbott Laboratories		418
	8	Amgen, Inc. •		397
	25	AstraZeneca plc ADR		857
	17	Celgene Corp. •		709
	10	Genzyme Corp. •		507
	7	Johnson & Johnson		346
	4	Teva Pharmaceutical Industries Ltd. ADR		180
				3,414
		Retailing—5.1%
	16	Kohl’s Corp. •		730
	31	Lowe’s Co., Inc.		662
	40	Staples, Inc.		815
				2,207
		Semiconductors & Semiconductor Equipment—3.6%
	46	Intel Corp.		721
	88	Micron Technology, Inc. •		427
	23	Texas Instruments, Inc.		414
				1,562
		Software & Services—15.4%
	27	Accenture Ltd. Class A		786
	13	Alliance Data Systems Corp. •		532
	2	Google, Inc. •		919
	81	Microsoft Corp.		1,641
	68	Oracle Corp. •		1,305
	9	Visa, Inc.		611
	57	Western Union Co.		956
				6,750
		Technology Hardware & Equipment—18.1%
	8	Apple, Inc. •		1,032
	69	Cisco Systems, Inc. •		1,331
	54	Corning, Inc.		794
	47	EMC Corp. •		593
	42	Hewlett-Packard Co.		1,507
	14	International Business Machines Corp.		1,435
	23	NetApp, Inc. •		419
	20	Qualcomm, Inc.		825
				7,936
		Telecommunication Services—1.1%
	18	AT&T, Inc.		464
		Transportation—1.0%
	13	Norfolk Southern Corp.		464
		Total common stocks (cost $44,656)	$	43,497
		Total long-term investments (cost $44,656)	$	43,497
SHORT-TERM INVESTMENTS—1.4%
		Repurchase Agreements—1.4%
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $148, collateralized by GNMA 4.50% - - 6.50%, 2038—2039, value of $151)
$	147	0.18%, 04/30/2009	$	147

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

4

Shares or Principal Amount					Market Value ╪
SHORT-TERM INVESTMENTS—1.4% — (continued)
		Repurchase Agreements—1.4% — (continued)
		BNP Paribas Securities Corp. TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $177, collateralized by FHLMC 4.50%—6.50%, 2035—2039, FNMA 4.50%—6.50%, 2034 - 2047, value of $180)
$	177	0.17%, 04/30/2009			$	177
		Deutsche Bank Securities TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $247, collateralized by FHLMC 4.00%—7.00%, 2021—2039, FNMA 6.00%—7.00%, 2034 - 2038, GNMA 4.50%—7.00%, 2024—2039, value of $252)
	247	0.17%, 04/30/2009				247
		UBS Securities, Inc. Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $1, collateralized by U.S. Treasury Bond 7.50%, 2024, value of $1)
	1	0.14%, 04/30/2009				1
		UBS Securities, Inc. TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $53, collateralized by FHLMC 8.00%—15.00%, 2009—2021, FNMA 3.50%—15.50%, 2012—2039, value of $54)
	53	0.16%, 04/30/2009				53
						625
		Total short-term investments (cost $625)			$	625
		Total investments (cost $45,281) ▲	100.8	%	$	44,122
		Other assets and liabilities	(0.8	)%		(367	)
		Total net assets	100.0	%	$	43,755

Note:	Percentage of investments as shown is the ratio of the total market value to total net assets. Market value of investments in foreign securities represents 4.83% of total net assets at April 30, 2009.
▲	At April 30, 2009, the cost of securities for federal income tax purposes was $46,761 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	2,670
Unrealized Depreciation		(5,309	)
Net Unrealized Depreciation	$	(2,639	)

•	Currently non-income producing.
╪	See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of securities.

FAS 157 Disclosure of Investment Valuation Hierarchy Levels

Assets:
Investment in securities — Level 1	$	43,497
Investment in securities — Level 2		625
Total	$	44,122

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

5

The Hartford Fundamental Growth Fund

Statement of Assets and Liabilities
April 30, 2009 (Unaudited)
(000’s Omitted)

Assets:
Investments in securities, at fair value (cost $45,281)	$	44,122
Cash		1
Foreign currency on deposit with custodian (cost $—)		—
Receivables:
Investment securities sold		178
Fund shares sold		87
Dividends and interest		60
Other assets		58
Total assets		44,506
Liabilities:
Payables:
Investment securities purchased		614
Fund shares redeemed		107
Investment management fees		6
Distribution fees		3
Accrued expenses		21
Total liabilities		751
Net assets	$	43,755
Summary of Net Assets:
Capital stock and paid-in-capital		65,245
Accumulated undistributed net investment income		91
Accumulated net realized loss on investments		(20,422	)
Unrealized depreciation of investments and the translation of assets and liabilities denominated in foreign currency		(1,159	)
Net assets	$	43,755
Shares authorized		300,000
Par value	$	0.001
Class A: Net asset value per share/Maximum offering price per share	$	7.41/$7.84
Shares outstanding		2,801
Net assets	$	20,750
Class B: Net asset value per share	$	7.00
Shares outstanding		783
Net assets	$	5,486
Class C: Net asset value per share	$	7.00
Shares outstanding		993
Net assets	$	6,952
Class Y: Net asset value per share	$	7.66
Shares outstanding		1,380
Net assets	$	10,567

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

6

The Hartford Fundamental Growth Fund

Statement of Operations
For the Six Month Period Ended April 30, 2009 (Unaudited)
(000’s Omitted)

Investment Income:
Dividends	$	401
Interest		1
Securities lending		11
Less: Foreign tax withheld		—
Total investment income		413
Expenses:
Investment management fees		189
Transfer agent fees		67
Distribution fees
Class A		25
Class B		26
Class C		34
Custodian fees		4
Accounting services		2
Registration and filing fees		20
Board of Directors’ fees		1
Audit fees		3
Other expenses		11
Total expenses (before waivers and fees paid indirectly)		382
Expense waivers		(40	)
Transfer agent fee waivers		(19	)
Commission recapture		(1	)
Custodian fee offset		—
Total waivers and fees paid indirectly		(60	)
Total expenses, net		322
Net investment income		91
Net Realized Loss on Investments:
Net realized loss on investments in securities		(14,004	)
Net Realized Loss on Investments		(14,004	)
Net Changes in Unrealized Appreciation of Investments:
Net unrealized appreciation of investments		11,706
Net unrealized appreciation on translation of other assets and liabilities in foreign currencies		—
Net Changes in Unrealized Appreciation of Investments		11,706
Net Loss on Investments		(2,298	)
Net Decrease in Net Assets Resulting from Operations	$	(2,207	)

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

7

The Hartford Fundamental Growth Fund

Statement of Changes in Net Assets

(000’s Omitted)

	For the Six-Month
	Period Ended			For the
	April 30, 2009			Year Ended
	(Unaudited)			October 31, 2008
Operations:
Net investment income (loss)	$	91		$	(195	)
Net realized loss on investments		(14,004	)		(6,345	)
Net unrealized appreciation (depreciation) of investments		11,706			(20,038	)
Net decrease in net assets resulting from operations		(2,207	)		(26,578	)
Distributions to Shareholders:
From net realized gain on investments
Class A		—			(4,325	)
Class B		—			(1,393	)
Class C		—			(1,555	)
Class Y		—			(42	)
Total distributions		—			(7,315	)
Capital Share Transactions:
Class A		(2,420	)		4,220
Class B		(544	)		(339	)
Class C		(977	)		1,595
Class Y		512			11,577
Net increase (decrease) from capital share transactions		(3,429	)		17,053
Net decrease in net assets		(5,636	)		(16,840	)
Net Assets:
Beginning of period		49,391			66,231
End of period	$	43,755		$	49,391
Accumulated undistributed net investment income (loss)	$	91		$	—

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

8

The Hartford Fundamental Growth Fund

Notes to Financial Statements
April 30, 2009 (Unaudited)
(000’s Omitted)

1.	Organization:
	The Hartford Mutual Funds, Inc. (“Company”) is an open-end management investment company comprised of fifty-two portfolios. Financial statements for The Hartford Fundamental Growth Fund (the “Fund”), a series of the Company, are included in this report.
	The Company is organized under the laws of the State of Maryland and is registered with the Securities and Exchange Commission (“SEC”) under the Investment Company Act of 1940, as amended (“1940 Act”). The Fund is a diversified open-end management investment company.
	Class A shares are sold with a front-end sales charge of up to 5.50%. Class B shares are sold with a contingent deferred sales charge which is assessed on the lesser of the per share net asset value (“NAV”) of the shares at the time of redemption or the original purchase price, and declines from up to 5.00% to zero depending on the period of time the shares are held. Class C shares are sold with a contingent deferred sales charge of up to 1.00% on shares redeemed within twelve months of purchase. Class Y shares, which are sold to certain eligible institutional investors, are sold without a sales charge. All classes of shares have identical voting, redemption, dividend, liquidation and other rights and the same terms and conditions, with the exceptions that each class may have different expenses, which may affect performance, and except that Class B shares automatically convert to Class A shares after 8 years.
	Effective at the close of business on September 30, 2009 (the “Close Date”), no new or additional investments will be allowed in Class B shares of The Hartford Mutual Funds (including investments through any systematic investment plan). After the Close Date, existing shareholders of Class B shares may continue to hold their Class B shares, exchange their Class B shares for Class B shares of another Hartford Mutual Fund (as permitted by existing exchange privileges), and redeem their Class B shares as described in the Fund’s prospectus. Reinstatement privileges with respect to Class B shares will continue under the current policy. If you have chosen to reinvest capital gains and dividends, any such capital gains or dividends on Class B shares will continue to be reinvested in Class B shares of the Fund. For Class B shares outstanding as of the Close Date, all Class B share attributes, including the 12b-1 fee, contingent deferred sales charge schedule, and conversion to Class A shares remain unchanged.
2.	Significant Accounting Policies:
	The following is a summary of significant accounting policies of the Fund, which are in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”).

a)	Security Transactions and Investment Income—Security transactions are recorded on the trade date (the date the order to buy or sell is executed). Security gains and losses are determined on the basis of identified cost.
	Dividend income is accrued as of the ex-dividend date, except that certain dividends for foreign securities where the ex-dividend date may have passed are recorded as soon as the Fund is informed of the dividend in the exercise of reasonable diligence. Interest income, including amortization of premium and accretion of discounts, is accrued on a daily basis.
b)	Security Valuation—The Fund generally uses market prices in valuing portfolio securities. If market prices are not readily available or are deemed unreliable, the Fund will use the fair value of the security as determined in good faith under policies and procedures established by and under the supervision of the Fund’s Board of Directors. Market prices may be deemed unreliable, for example, if a security is thinly traded or if an event has occurred after the close of the security’s primary markets, but before the close of the New York Stock Exchange (the “Exchange”) (normally 4:00 p.m. Eastern Time, referred to as the “Valuation Time”) that is expected to affect the value of the portfolio security. The circumstances in which the Fund may use fair value pricing include, among others: (i) the occurrence of events that are significant to a particular issuer, such as mergers, restructuring or defaults; (ii) the occurrence of events that are significant to an entire market, such as natural disasters in a particular region or governmental actions; (iii) trading restrictions on securities; (iv) thinly traded securities and (v) market events such as trading halts and early market

9

The Hartford Fundamental Growth Fund

Notes to Financial Statements—(continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

	closings. In addition, with respect to the valuation of stocks primarily traded on foreign markets, the Fund uses a fair value pricing service approved by the Fund’s Board of Directors, which employs quantitative models that evaluate changes in the value of foreign market proxies (e.g., futures contracts, ADR’s, exchange traded funds (“ETF’s”)) after the close of the foreign markets but before the close of the Exchange. Securities that are primarily traded on foreign markets may trade on days that are not business days of the Fund. The value of the foreign securities in which the Fund invests may change on days when a shareholder will not be able to purchase or redeem shares of the Fund. Fair value pricing is subjective in nature and the use of fair value pricing by the Fund may cause the NAV of its shares to differ significantly from the NAV that would have been calculated using market prices at the close of the exchange on which a portfolio security is primarily traded but before the close of the Exchange. There can be no assurance that the Fund could obtain the fair value assigned to a security if the Fund were to sell the security at approximately the time at which the Fund determines its NAV.
	Securities of foreign issuers and non-dollar securities are translated from the local currency into U.S. dollars using prevailing exchange rates.
	Financial instruments for which prices are not available from an independent pricing service are valued using market quotations obtained from one or more dealers that make markets in securities in accordance with procedures established by the Fund’s Board of Directors.
	A forward currency contract shall be valued based on the price of the underlying currency at the prevailing interpolated exchange rate, which is a combination of the spot currency rate and the forward currency rate. Spot currency rates and forward currency rates are obtained from an independent pricing service on a daily basis not more than one hour before the Valuation Time.
c)	Foreign Currency Transactions—The accounting records of the Fund are maintained in U.S. dollars. All assets and liabilities initially expressed in foreign currencies are converted into U.S. dollars at the prevailing exchange rates. Purchases and sales of investment securities, dividend and interest income and certain expenses are translated at the rates of exchange prevailing on the respective dates of such transactions.
	The Fund does not isolate that portion of portfolio security valuation resulting from fluctuations in the foreign currency exchange rates on portfolio securities from the fluctuations arising from changes in the market prices of securities held. Such fluctuations are included with the net realized and unrealized gain or loss on investments in the accompanying financial statements.
	Net realized foreign exchange gains or losses arise from sales of foreign currencies and the difference between asset and liability amounts initially stated in foreign currencies and the U.S. dollar value of the amounts actually received or paid. Net unrealized foreign exchange gains or losses arise from changes in the value of other assets and liabilities at the end of the reporting period, resulting from changes in the exchange rates.
d)	Securities Lending—The Fund may lend its securities to certain qualified brokers who pay the Fund negotiated lender fees. The loans are fully collateralized at all times with cash and/or U.S. Government Securities and/or repurchase agreements. The cash collateral is then invested in short-term money market instruments. The repurchase agreements are fully collateralized by U.S. Government Securities. The adequacy of the collateral for securities on loan is monitored on a daily basis. For instances where the market value of collateral falls below the market value of the securities out on loan, such collateral is supplemented on the following business day.
	While securities are on loan, the Fund is subject to the following risks: 1) that the borrower may default on the loan and that the collateral could be inadequate in the event the borrower defaults, 2) that the earnings on the collateral invested may not be sufficient to pay fees incurred in connection with the loan, 3) that the principal value of the collateral invested may decline and may not be sufficient to pay back the borrower for the amount of the collateral posted, 4) that the borrower may use the loaned securities to cover a short sale which may place downward pressure on the market

10

	prices of the loaned securities, 5) that return of loaned securities could be delayed and could interfere with portfolio management decisions and 6) that any efforts to recall the securities for purposes of voting a proxy may not be effective. The Fund had no securities out on loan as of April 30, 2009.
e)	Joint Trading Account—Pursuant to an exemptive order issued by the SEC, the Fund may transfer uninvested cash balances into a joint trading account managed by Wellington Management Company, LLP (“Wellington”). These balances may be invested in one or more repurchase agreements and/or short-term money market instruments.
f)	Repurchase Agreements—A repurchase agreement is an agreement by which the seller of a security agrees to repurchase the security sold at a mutually agreed upon time and price. At the time the Fund enters into a repurchase agreement, the value of the underlying collateral security(ies), including accrued interest, will be equal to or exceed the value of the repurchase agreement. Securities that serve to collateralize the repurchase agreement are held by the Fund’s custodian in book entry or physical form in the custodial account of the Fund or in a third party custodial account. Repurchase agreements are valued at cost plus accrued interest. The Fund, as shown on the Schedule of Investments, had outstanding repurchase agreements as of April 30, 2009.
g)	Forward Foreign Currency Contracts—The Fund may enter into forward foreign currency contracts that obligate the Fund to repurchase/replace or sell currencies at specified future dates. Forward foreign currency contracts may be used to hedge against adverse fluctuations in exchange rates between currencies.
	Forward foreign currency contracts involve elements of market risk in excess of the amount reflected in the Statement of Assets and Liabilities. In addition, risks may arise upon entering into these contracts from the potential inability of the counterparties to meet the terms of the contracts and from unanticipated movements in the value of the foreign currencies relative to the U.S. dollar.
h)	Fund Share Valuation and Dividend Distributions to Shareholders—Orders for the Fund’s shares are executed in accordance with the investment instructions of the shareholders. The NAV of the Fund’s shares is determined as of the close of each business day of the Exchange. The NAV is determined separately for each class of the Fund by dividing the Fund’s net assets attributable to that class by the number of shares of the class outstanding. Orders for the purchase of the Fund’s shares prior to the close of the Exchange on any day on which the Exchange is open for business are priced at the NAV determined as of the close of the Exchange. Orders after the close of the Exchange, or on a day on which the Exchange and/or the Fund is not open for business, are priced at the next determined NAV.
	The Fund intends to distribute substantially all of its net investment income and net realized capital gains to shareholders no less frequently than once a year. Normally, dividends from net investment income are declared and paid annually. Dividends are paid on shares beginning on the business day after the day when the funds used to purchase the shares are collected by the transfer agent for the Fund. Unless shareholders specify otherwise, all dividends will be automatically reinvested in additional full or fractional shares of the Fund.
	Distributions from net investment income, realized capital gains and capital are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP with respect to character and timing. These differences include but are not limited to foreign currency gains and losses, losses deferred due to wash sales adjustments, adjustments related to Passive Foreign Investment Companies and certain derivatives, and excise tax regulations. Permanent book and federal income tax basis differences relating to shareholder distributions will result in reclassifications to certain of the Fund’s capital accounts (see Federal Income Taxes: Reclassification of Capital Accounts footnote).
i)	Use of Estimates—The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and the reported amounts of income and expenses during the period. Operating results in the future could vary from the amounts derived from management’s estimates.

11

The Hartford Fundamental Growth Fund

Notes to Financial Statements—(continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

j)

Financial Accounting Standards Board Financial Accounting Standards No. 157—Effective November 1, 2008, the Fund adopted Financial Accounting Standards Board (“FASB”) Statement of Financial Accounting Standards No. 157, “Fair Value Measurements” (“FAS 157”). This standard clarifies the definition of fair value for financial reporting, establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements. Fair value is defined under FAS 157 as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Under FAS 157, a fair value measurement should reflect all of the assumptions that market participants would use in pricing the asset or liability, including assumptions about the risk inherent in a particular valuation technique, the effect of a restriction on the sale or use of an asset, and the risk of nonperformance.

Various inputs are used in determining the value of the Fund’s investment. These inputs are summarized, per FAS 157, into three broad hierarchy levels. This hierarchy is based on whether the valuation inputs are observable or unobservable. These levels are:

• Level 1 — Quoted prices in active markets for identical securities. Level 1 includes exchange-traded instruments such as domestic equities, some foreign equities, options, futures, mutual funds, ETF’s, and rights and warrants.

• Level 2 — Observable inputs other than Level 1 prices, such as quoted prices for similar securities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the security. Level 2 includes debt securities that are traded less frequently than exchange-traded instruments and that are valued using third party pricing services and foreign equities, whose value is determined using a multi-factor regression model with inputs that are observable in the market; and money market instruments, which are carried at amortized cost.

• Level 3 — Significant unobservable inputs that are supported by little or no market activity. Level 3 includes financial instruments whose values are determined using broker quotes and require significant management judgment or estimation. This category includes broker quoted securities, long dated OTC options and securities where trading has been halted or there are certain restrictions on trading. While these securities are priced using unobservable inputs, the valuation of these securities reflects the best available data and management believes the prices are a good representation of exit price.

	Individual securities within any of the above mentioned asset classes may be assigned a different hierarchical level than those presented above, as individual circumstances dictate.
	FAS 157 also requires that a roll forward reconciliation be shown for all Level 3 securities from the beginning of the reporting period to the end of the reporting period. Part of this reconciliation includes transfers in and/or out of Level 3. For purposes of this reconciliation, transfers in are shown at the end of period fair value and transfers out are shown at the beginning of period fair value. During the six-month period ended April 30, 2009, the Fund held no Level 3 securities.
	Refer to the valuation hierarchy levels summary found following the Schedule of Investments.
	FASB Staff Position No. 157-4—In April 2009, FASB released FASB Staff Position No. 157-4, “Determining Fair Value When the Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly” (“FSP FAS 157-4”). FSP FAS 157-4 provides additional guidance on determining whether a market for a financial asset is not active and a transaction is not distressed when measuring fair value under FAS 157. The FSP also requires additional disclosure detail on debt and equity securities by major investment categories. FSP FAS 157-4 is effective for interim and annual periods ending after June 15, 2009. At this time, management is evaluating the implications of FSP FAS 157-4 and does not believe it will impact valuation but will require additional disclosure. This additional disclosure has not yet been implemented.
k)	Financial Accounting Standards Board Financial Accounting Standards No. 161—In March 2008, the FASB released Statement of Financial Accounting Standards No. 161, “Disclosures about Derivative Instruments and Hedging

12

Activities” (“FAS 161”). FAS 161 requires companies to disclose information detailing the objectives and strategies for using derivative instruments, the level of derivative activity entered into by the company and any credit risk-related contingent features of the agreements. The application of FAS 161 is required for fiscal years and interim periods beginning after November 15, 2008. At this time, management is evaluating the implications of FAS 161 and has not yet implemented the new disclosure standard.

l)

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

3. Federal Income Taxes:

a)

Federal Income Taxes—For federal income tax purposes, the Fund intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code (“IRC”) by distributing substantially all of its taxable net investment income and net realized capital gains to its shareholders and otherwise complying with the requirements of regulated investment companies. The Fund has distributed substantially all of its income and capital gains in prior years and the Fund intends to distribute substantially all of its income and gains during the calendar year ending December 31, 2009. Accordingly, no provision for federal income or excise taxes has been made in the accompanying financial statements. Distributions from short-term capital gains are treated as ordinary income distributions for federal income tax purposes.

b)

The tax character of distributions paid by the Fund for the periods indicated is as follows (as adjusted for dividends payable):

	For the Year Ended
	October 31, 2008
Ordinary Income	$	6,221
Long-Term Capital Gains *		1,094

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

As of October 31, 2008, the Fund’s components of distributable earnings (deficit) on a tax basis were as follows:

	Amount
Accumulated Capital Losses*	$	(4,937	)
Unrealized Depreciation†	$	(14,346	)
Total Accumulated Deficit	$	(19,283	)

*	The Fund has capital loss carryforwards that are identified in the Capital Loss Carryforward note that follows.
†	The differences between book-basis and tax-basis unrealized appreciation (depreciation) are attributable to the tax deferral of wash sales losses, the mark-to-market adjustment for certain derivatives in accordance with IRC Sec. 1256, the mark to market for Passive Foreign Investment Companies and basis differences in real estate investment trusts.

c) Reclassification of Capital Accounts—In accordance with American Institute of Certified Public Accountants (AICPA) Statement of Position 93-2, Determination, Disclosure, and Financial Statement Presentation of Income, Capital Gain, and Return of Capital Distributions by Investment Companies, the Fund has recorded reclassifications in its capital accounts. These reclassifications had no impact on the NAV of the Fund. The reclassifications are a result of permanent differences between GAAP and tax accounting for such items as net operating losses that reduce distribution

13

The Hartford Fundamental Growth Fund

Notes to Financial Statements—(continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

requirements. Adjustments are made to reflect the impact these items have on current and future distributions to shareholders. Therefore, the source of the Fund’s distributions may be shown in the accompanying Statement of Changes in Net Assets as from net investment income, from net realized gains on investments or from capital depending on the type of book and tax differences that exist. As of October 31, 2008, the Fund recorded reclassifications to increase undistributed net investment income by $195 and decrease paid in capital by $195.

d)

Capital Loss Carryforward—At October 31, 2008 (tax-year-end), the Fund had capital loss carryforwards for U.S. federal income tax purposes of approximately:

Year	Amount
2016	$	4,937
Total	$	4,937

e) Financial Accounting Standards Board Interpretation No. 48—On July 13, 2006, the FASB released FASB Interpretation No. 48 “Accounting for Uncertainty in Income Taxes” (“FIN 48”). FIN 48 provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. The Fund adopted FIN 48 for fiscal years beginning after December 15, 2006. Management has evaluated the implications of FIN 48 for all open tax years (tax years ended October 31, 2006 — 2008) and has determined there is no impact to the Fund’s financial statements.

4. Expenses:

a)

Investment Management Agreements—Hartford Investment Financial Services, LLC (“HIFSCO”) serves as investment manager to the Fund pursuant to an Investment Management Agreement with The Hartford Mutual Funds, Inc. As investment manager, HIFSCO has overall investment supervisory responsibility for the Fund. In addition, HIFSCO provides administrative personnel, services, equipment, facilities and office space for proper operation of the Fund. HIFSCO has contracted with Wellington for the provision of day-to-day investment management services to the Fund in accordance with the Fund’s investment objective and policies. The Fund pays a fee to HIFSCO, a portion of which may be used to compensate Wellington.

The schedule below reflects the rates of compensation paid to HIFSCO for investment management services rendered during the six-month period ended April 30, 2009; the rates are accrued daily and paid monthly:

	Annual Fee
On first $500 million		0.8500	%
On next $500 million		0.8000	%
On next $4 billion		0.7500	%
On next $5 billion		0.7475	%
Over $10 billion		0.7450	%

b)

Accounting Services Agreement—Pursuant to the Fund Accounting Agreement between Hartford Life Insurance Company (“HLIC”) and the Fund, HLIC provides accounting services to the Fund and receives a fee of 0.01% on the Fund’s average net assets. The Fund’s accounting service fees are accrued daily and paid monthly.

c)

Operating Expenses—Allocable expenses incurred by the Company are allocated to each Fund and allocated to classes within the Fund in proportion to the average daily net assets of the Fund and each class, except where allocation of certain expenses is more fairly made directly to the Fund or to specific classes within a Fund. During the six-month period ended April 30, 2009, HIFSCO has contractually limited the total operating expenses of this Fund, exclusive of taxes, interest expense, brokerage commissions, certain distribution expenses and extraordinary expenses as follows:

Class A	Class B			Class C			Class Y
1.45%		2.20	%		2.20	%		1.05	%

14

d)

Fees Paid Indirectly—The Fund has entered into agreements with State Street Global Markets, LLC and Russell Implementation Services Inc. to partially recapture non-discounted trade commissions. Such rebates are used to pay a portion of the Fund’s expenses. In addition, the Fund’s custodian bank has also agreed to reduce its fees when the Fund maintains cash on deposit in the non-interest-bearing custody account. For the six-month period ended April 30, 2009, these amounts are included in the Statement of Operations.

The ratio of expenses to average net assets in the accompanying financial highlights excludes the reduction in expenses related to fees paid indirectly. Had the fees paid indirectly been included, the annualized expense ratio for the periods listed below would have been as follows:

	Annualized
	Six-Month
	Period			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended
	Ended April			October 31,			October 31,			October 31,			October 31,			October 31,
	30, 2009			2008			2007			2006			2005			2004
Class A Shares		1.34	%		1.45	%		1.47	%		1.48	%		1.57	%		1.59	%
Class B Shares		1.95			2.18			2.22			2.23			2.32			2.32
Class C Shares		2.13			2.20			2.20			2.23			2.32			2.25
Class Y Shares		1.04			0.96			1.02			1.05			1.13			1.08

e)	Distribution and Service Plan for Class A, B and C Shares—HIFSCO is the principal underwriter and distributor of the Fund. HIFSCO is engaged in distribution activities, which include marketing and distribution of shares through broker-dealers, financing distribution costs and maintaining financial books and records. For the six-month period ended April 30, 2009, HIFSCO received front-end load sales charges of $13 and contingent deferred sales charges of $4 from the Fund.
	The Fund has adopted Distribution and Service Plans in accordance with Rule 12b-1 of the Investment Company Act of 1940, as amended, to compensate the distributor (HIFSCO) for activities intended to result in the sale and distribution of Classes A, B and C shares and for providing services for shareholders. The Rule 12b-1 plan applicable to Class A shares of the Funds provides for payment of a Rule 12b-1 fee of up to 0.35% of average daily net assets; however, the Board of Directors has currently authorized 12b-1 payments of only up to 0.25%. Some or all of the fee may be used for shareholder servicing expenses with the remainder used for distribution expenses. Some or the entire Rule 12b-1 fee for Class B shares may be remitted to broker-dealers for distribution and/or shareholder account services. Under the Class B Plan, the Fund pays the distributor 1.00% of the average daily net assets of Class B shares that are outstanding for 8 years or less, 0.25% of which is a fee for services provided to existing shareholders with the remainder used for distribution expenses. After eight years, Class B shares convert to Class A shares. Upon conversion to Class A shares, the Class A plan described above will apply to those shares. Under the Class C Plan, the Fund pays the Distributor 1.00% of the average daily net assets of Class C shares outstanding, 0.25% of which is intended as a fee for services provided to existing shareholders with the remainder used for distribution expenses. For Class C shares, some or the entire fee may be remitted to broker-dealers for distribution and/or shareholder account services. The Fund’s 12b-1 fees are accrued daily and paid monthly.
	For the six-month period ended April 30, 2009, total sales commissions paid to affiliated brokers/dealers of The Hartford for distributing the Fund’s shares were $1. These commissions are in turn paid to sales representatives of the broker/dealers.
f)	Other Related Party Transactions—Certain officers of the Fund are directors and/or officers of HIFSCO and/or The Hartford or its subsidiaries. For the six-month period ended April 30, 2009, a portion of the Fund’s chief compliance officer’s salary was paid by the Fund in an amount, which rounds to zero. Hartford Administrative Services Company (“HASCO”), an indirect wholly owned subsidiary of The Hartford, provides transfer agent services to the Fund. HASCO was compensated $60 for providing such services. These fees are accrued daily and paid monthly.

15

The Hartford Fundamental Growth Fund

Notes to Financial Statements—(continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

g)	Payments from Affiliate:
	The total return in the accompanying financial highlights includes payment from affiliates. Had the payment from affiliates been excluded, the total return for the periods listed below would have been as follows:

							Impact from Payment
							from Affiliate for
	Impact from			Total Return			Transfer Agent
	Payment from			Excluding			Allocation			Total Return
	Affiliate for SEC			Payment from			Methodology			Excluding Payment
	Settlement for the			Affiliate for the			Reimbursements for			from Affiliate for
	Year Ended			Year Ended			the Year Ended			the Year Ended
	October 31, 2007			October 31, 2007			October 31, 2004			October 31, 2004
Class A		0.28	%		26.24	%		0.03	%		2.21	%
Class B		0.29			25.34			—			1.48
Class C		0.29			25.32			0.06			1.53
Class Y		0.28			26.83			—		—

5.	Investment Transactions:
	For the six-month period ended April 30, 2009, the Fund’s aggregate purchases and sales of investment securities (excluding short-term investments) were as follows:

	Amount
Cost of Purchases Excluding U.S. Government Obligations	$	27,873
Sales Proceeds Excluding U.S. Government Obligations		29,613

6.	Capital Share Transactions:
	The following information is for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	For the Six-Month Period Ended April 30, 2009												For the Year Ended October 31, 2008
			Shares					Shares							Shares					Shares
			Issued for					Issued		Net Increase					Issued for					Issued		Net Increase
	Shares		Reinvested		Shares			from		(Decrease) of			Shares		Reinvested		Shares			from		(Decrease) of
	Sold		Dividends		Redeemed			Merger		Shares			Sold		Dividends		Redeemed			Merger		Shares
Class A
Shares		232		—		(600	)		—		(368	)		755		357		(799	)		—		313
Amount	$	1,568	$	—	$	(3,988	)	$	—	$	(2,420	)	$	8,345	$	4,174	$	(8,299	)	$	—	$	4,220
Class B
Shares		34		—		(122	)		—		(88	)		77		118		(243	)		—		(48	)
Amount	$	218	$	—	$	(762	)	$	—	$	(544	)	$	819	$	1,320	$	(2,478	)	$	—	$	(339	)
Class C
Shares		78		—		(237	)		—		(159	)		210		126		(206	)		—		130
Amount	$	494	$	—	$	(1,471	)	$	—	$	(977	)	$	2,279	$	1,405	$	(2,089	)	$	—	$	1,595
Class Y
Shares		819		—		(830	)		—		(11	)		1,387		4		(27	)		—		1,364
Amount	$	5,905	$	—	$	(5,393	)	$	—	$	512		$	11,816	$	41	$	(280	)	$	—	$	11,577

The following reflects the conversion of Class B Shares into Class A Shares (reflected as Class A Shares issued and Class B shares redeemed) for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	Shares		Dollars
For the Six-Month Period Ended April 30, 2009		6	$	41
For the Year Ended October 31, 2008		5	$	58

16

7.	Line of Credit:
	The Fund is one of several Hartford Funds that participate in a $500 million committed revolving line of credit facility. The facility is to be used for temporary or emergency purposes. Under the arrangement, the Fund is required to own securities having a market value in excess of 300% of the total bank borrowings. The interest rate on borrowings varies depending on the nature of the loan. The facility also requires a fee to be paid based on the amount of the commitment. During the six-month period ended April 30, 2009, the Fund did not have any borrowings under this facility.
8.	Industry Classifications:
	Other than the industry classifications “Other Investment Pools and Funds” and “Exchange Traded Funds”, equity industry classifications used in this report are the Global Industry Classification Standard, which was developed by and is the exclusive property and service mark of MSCI, Inc. and Standard & Poor’s.

17

The Hartford Fundamental Growth Fund

Financial Highlights—(Unaudited)

	- Selected Per-Share Data - (a)																													- Ratios and Supplemental Data -
																																			Ratio of			Ratio of			Ratio of
																																			Expenses			Expenses			Expenses
																																			to Average			to Average			to Average
																																			Net Assets			Net Assets			Net Assets
																																			Before			After			After
								Net																											Waivers			Waivers			Waivers
								Realized																											and			and			and			Ratio of
								and Un-									Distrib-								Net										Reimburse-			Reimburse-			Reimburse-			Net
			Net			Pay-		realized						Dividends			utions								Increase			Net							ments and			ments and			ments and			Invest-			Port-
	Net Asset		Invest-			ments		Gain						from Net			from			Distri-					(Decrease)			Asset					Net Assets		Including			Including			Excluding			ment			folio
	Value at		ment			from		(Loss) on			Total from			Invest-			Realized			butions		Total			in Net			Value at					at End of		Expenses			Expenses			Expenses			Income to			Turn-
	Beginning		Income			(to)		Invest-			Investment			ment			Capital			from		Distri-			Asset			End of		Total			Period		not Subject			not Subject			not Subject			Average			over
Class	of Period		(Loss)			Affiliate		ments			Operations			Income			Gains			Capital		butions			Value			Period		Return(b)			(000’s)		to Cap(c)			to Cap(c)			to Cap(c)			Net Assets			Rate(d)
For the Six-Month Period Ended April 30, 2009 (Unaudited)
A	$	7.57	$	0.02		$	—	$	(0.18	)	$	(0.16	)	$	—		$	—		$	—	$	—		$	(0.16	)	$	7.41		(2.11	)%(e)	$	20,750		1.69	%(f)		1.35	%(f)		1.35	%(f)		0.51	%(f)		63	%
B		7.18		—			—		(0.18	)		(0.18	)		—			—			—		—			(0.18	)		7.00		(2.51	) (e)		5,486		2.58	(f)		1.95	(f)		1.95	(f)		(0.10	) (f)		—
C		7.18		(0.01	)		—		(0.17	)		(0.18	)		—			—			—		—			(0.18	)		7.00		(2.51	) (e)		6,952		2.40	(f)		2.13	(f)		2.13	(f)		(0.28	) (f)		—
Y		7.82		0.04			—		(0.20	)		(0.16	)		—			—			—		—			(0.16	)		7.66		(1.92	) (e)		10,567		1.04	(f)		1.04	(f)		1.04	(f)		0.84	(f)		—
For the Year Ended October 31, 2008
A		13.95		(0.01	)		—		(4.85	)		(4.86	)		—			(1.52	)		—		(1.52	)		(6.38	)		7.57		(38.66	)		23,989		1.48			1.45			1.45			(0.06	)		110
B		13.40		(0.09	)		—		(4.61	)		(4.70	)		—			(1.52	)		—		(1.52	)		(6.22	)		7.18		(39.11	)		6,254		2.30			2.19			2.19			(0.80	)		—
C		13.41		(0.09	)		—		(4.62	)		(4.71	)		—			(1.52	)		—		(1.52	)		(6.23	)		7.18		(39.16	)		8,276		2.21			2.20			2.20			(0.81	)		—
Y		14.27		—			—		(4.93	)		(4.93	)		—			(1.52	)		—		(1.52	)		(6.45	)		7.82		(38.24	)		10,872		0.96			0.96			0.96			0.36			—
For the Year Ended October 31, 2007
A		11.02		(0.04	)		0.04		2.93			2.93			—			—			—		—			2.93			13.95		26.59	(g)		39,831		1.50			1.47			1.47			(0.30	)		159
B		10.66		(0.14	)		0.04		2.84			2.74			—			—			—		—			2.74			13.40		25.70	(g)		12,307		2.30			2.22			2.22			(1.04	)		—
C		10.67		(0.13	)		0.04		2.83			2.74			—			—			—		—			2.74			13.41		25.68	(g)		13,703		2.22			2.20			2.20			(1.04	)		—
Y		11.22		0.02			0.04		2.99			3.05			—			—			—		—			3.05			14.27		27.18	(g)		390		1.02			1.02			1.02			0.17			—
For the Year Ended October 31, 2006
A		10.26		0.02			—		0.81			0.83			(0.07	)		—			—		(0.07	)		0.76			11.02		8.07			40,215		1.68			1.50			1.50			0.14			123
B		9.94		(0.06	)		—		0.78			0.72			—			—			—		—			0.72			10.66		7.24			13,162		2.47			2.25			2.25			(0.61	)		—
C		9.94		(0.07	)		—		0.80			0.73			—			—			—		—			0.73			10.67		7.34			13,065		2.39			2.25			2.25			(0.61	)		—
Y		10.44		0.04			—		0.85			0.89			(0.11	)		—			—		(0.11	)		0.78			11.22		8.57			487		1.18			1.07			1.07			0.56			—
For the Year Ended October 31, 2005
A		9.14		0.08			—		1.04			1.12			—			—			—		—			1.12			10.26		12.31			50,067		1.65			1.60			1.60			0.68			112
B		8.92		(0.01	)		—		1.03			1.02			—			—			—		—			1.02			9.94		11.44			15,156		2.45			2.35			2.35			(0.09	)		—
C		8.92		(0.01	)		—		1.03			1.02			—			—			—		—			1.02			9.94		11.44			16,737		2.36			2.35			2.35			(0.05	)		—
Y		9.28		0.13			—		1.06			1.19			(0.03	)		—			—		(0.03	)		1.16			10.44		12.86			473		1.16			1.16			1.16			1.27			—
For the Year Ended October 31, 2004
A		8.94		(0.02	)		—		0.22			0.20			—			—			—		—			0.20			9.14		2.24	(g)		67,212		1.62			1.62			1.62			(0.25	)		104
B		8.79		(0.10	)		—		0.23			0.13			—			—			—		—			0.13			8.92		1.48	(g)		18,610		2.36			2.35			2.35			(0.98	)		—
C		8.78		(0.10	)		0.01		0.23			0.14			—			—			—		—			0.14			8.92		1.59	(g)		23,901		2.28			2.28			2.28			(0.91	)		—
Y		9.04		0.03			—		0.21			0.24			—			—			—		—			0.24			9.28		2.65			815		1.11			1.11			1.11			0.27			—

(a)	Information presented relates to a share outstanding throughout the indicated period.
(b)	Assumes initial investment at net asset value at the beginning of each period, reinvestment of all distributions, the complete redemption of the investment at net asset value at the end of each period and no sales charge. Total return would be reduced if sales charges were taken into account.
(c)	Ratios do not include fees paid indirectly (See Expenses in the accompanying Notes to Financial Statements).
(d)	Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between the classes of shares issued.
(e)	Not annualized.
(f)	Annualized.
(g)	Total return without the inclusion of the Payments from (to) Affiliate, as noted on the Statement of Operations, can be found in Expenses in the accompanying Notes to Financial Statements.

18

The Hartford Fundamental Growth Fund

Directors and Officers (Unaudited)

The Board of Directors appoints officers who are responsible for the day-to-day operations of the Fund and who execute policies formulated by the Directors. Each director serves until his or her death, resignation, or retirement or until the next annual meeting of shareholders is held or until his or her successor is elected and qualifies.

Directors and officers who are employed by or who have a financial interest in The Hartford are considered “interested” persons of the Fund pursuant to the Investment Company Act of 1940, as amended. Each officer and three of the Fund’s directors, as noted in the chart below, are “interested” persons of the Fund. Each director serves as a director for The Hartford Mutual Funds, Inc., The Hartford Mutual Funds II, Inc., The Hartford Income Shares Fund, Inc., Hartford Series Fund, Inc., and Hartford HLS Series Fund II, Inc., which collectively consist of 100 funds. Correspondence may be sent to directors and officers c/o Hartford Mutual Funds, P.O. Box 2999, Hartford, Connecticut 06104-2999, except that correspondence to Ms. Fagely may be sent to 500 Bielenberg Drive, Woodbury, Minnesota 55125.

The table below sets forth, for each director and officer, his or her name, year of birth, current position with the Fund and date first elected or appointed to The Hartford Mutual Funds, Inc. (“MF”) and The Hartford Mutual Funds II, Inc. (“MF2”), principal occupation, and, for directors, other directorships held. The Fund’s statement of additional information contains further information on the directors and is available free of charge by calling 1-888-843-7824 or writing to Hartford Mutual Funds, P.O. Box 64387, St. Paul, MN 55164-0387.

Information on the aggregate remuneration paid to the directors of the Fund can be found in the Statement of Operations herein. The Fund pays a portion of the Chief Compliance Officer’s compensation, but does not pay salaries or compensation to any of its officers or directors who are employed by The Hartford.

Non-Interested Directors

Lynn S. Birdsong (1946) Director since 2003, Co-Chairman of the Investment Committee

Mr. Birdsong is a private investor. Since 1981, Mr. Birdsong has been a partner in Birdsong Company, an advertising specialty firm. Since 2003, Mr. Birdsong has been an independent director of The Japan Fund. From 2003 to March 2005, Mr. Birdsong was an independent director of the Atlantic Whitehall Funds. From 1979 to 2002, Mr. Birdsong was a managing director of Zurich Scudder Investments, an investment management firm. During his employment with Scudder, Mr. Birdsong was an interested director of The Japan Fund.

Robert M. Gavin, Jr. (1940) Director since 2002 (MF) and 1986 (MF2), Chairman of the Board since 2004

Dr. Gavin is an educational consultant. Prior to September 1, 2001, he was President of Cranbrook Education Community and prior to July 1996, he was President of Macalester College, St. Paul, Minnesota.

Duane E. Hill (1945) Director since 2001 (MF) and 2002 (MF2), Chairman of the Nominating Committee

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

Sandra S. Jaffee (1941) Director since 2005

Ms. Jaffee is Chairman and Chief Executive Officer of Fortent (formerly Searchspace Group), a leading provider of compliance/regulatory technology to financial institutions. Ms. Jaffee served as an Entrepreneur in Residence with Warburg Pincus, a private equity firm, from August 2004 to August 2005. From September 1995 to July 2004, Ms. Jaffee served as Executive Vice President at Citigroup, where she was President and Chief Executive Officer of Citibank’s Global Securities Services (1995-2003).

William P. Johnston (1944) Director since 2005, Chairman of the Compliance Committee

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

19

The Hartford Fundamental Growth Fund
Directors and Officers (Unaudited)—(continued)

Phillip O. Peterson (1944) Director since 2002 (MF) and 2000 (MF2), Chairman of the Audit Committee

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

Lemma W. Senbet (1946) Director since 2005

Dr. Senbet is the William E. Mayer Chair Professor of Finance at the University of Maryland, Robert H. Smith School of Business. He was chair of the Finance Department during 1998-2006. Previously he was an endowed professor of finance at the University of Wisconsin-Madison. Also, he was director of the Fortis Funds from March 2000-July 2002. Dr. Senbet served the finance profession in various capacities, including as director of the American Finance Association and President of the Western Finance Association. In 2006, Dr. Senbet was inducted Fellow of Financial Management Association International for his career-long distinguished scholarship and professional service.

Interested Directors and Officers

Thomas M. Marra* (1958) Director since 2002

Mr. Marra has served as President and Chief Operating Officer of The Hartford Financial Services Group, Inc. (“The Hartford”) since 2007. Mr. Marra currently serves as Director of Hartford Life, Inc. (“HL, Inc.”). Mr. Marra served as Chief Operating Officer of Hartford Life Insurance Company, Inc. (“Hartford Life”) (2000-2008), as President of Hartford Life (2002-2008) and as Director of Hartford Life’s Investment Products Division from 1998 to 2000.

* On February 24, 2009, The Hartford and Mr. Marra determined to enter into a mutually agreed separation whereby Mr. Marra will retire, and his role as an executive officer and employee of The Hartford will terminate, effective July 3, 2009. Mr. Marra will resign his position as a Director of the Fund effective June 25, 2009.

Lowndes A. Smith (1939) Director since 2002, Co-Chairman of the Investment Committee

Mr. Smith served as Vice Chairman of The Hartford from February 1997 to January 2002, as President and Chief Executive Officer of Hartford Life, Inc. from February 1997 to January 2002, and as President and Chief Operating Officer of The Hartford Life Insurance Companies from January 1989 to January 2002. Mr. Smith serves as a Director of White Mountains Insurance Group, Ltd., One Beacon Insurance, Symetra Financial and as a Managing Director of Whittington Gray Associates.

John C. Walters* (1962) Director since 2008

Mr. Walters currently serves as Chief Executive Officer, President and Director of HL, Inc. Mr. Walters previously served as President of the U.S. Wealth Management Division of Hartford Life, Inc., as Co-Chief Operating Officer of Hartford Life Insurance Company (2007-2008) and as Executive Vice President and Director of its Investment Products Division (2000-2008). Mr. Walters also serves as Chairman of the Board, Chief Executive Officer, President and Director of Hartford Life Insurance Company and as Executive Vice President of The Hartford. In addition, Mr. Walters is Manager of HL Investment Advisors, LLC (“HL Advisors”).

* Mr. Walters previously served as President and Chief Executive Officer of the Fund (2007 — 2009).

Other Officers

Robert M. Arena, Jr. (1968) President and Chief Executive Officer since 2009 (served as Vice President of the Fund (2006 — 2009))

Mr. Arena serves as Executive Vice President of Hartford Life Insurance Company, (“Hartford Life”). Additionally, Mr. Arena is Director and Senior Vice President of Hartford Administrative Services Company, (“HASCO”), Manager, Chief Executive Officer and President of Hartford Investment Financial Services, LLC (“HIFSCO”) and HL Advisors. Prior to joining The Hartford in 2004, he was Senior Vice President in charge of Product Management for American Skandia/Prudential in the individual annuities division. Mr. Arena joined American Skandia in 1996.

Tamara L. Fagely (1958) Vice President, Treasurer and Controller since 2002 (MF) 1993 (MF2)

Ms. Fagely has been a Vice President of HASCO since 1998 and Chief Financial Officer since 2006. Currently Ms. Fagely is a Vice President of Hartford Life. She served as Assistant Vice President of Hartford Life from December 2001 through March 2005. In addition, Ms. Fagely is Controller and Chief Financial Officer of HIFSCO.

Brian Ferrell (1962) AML Compliance Officer since 2008

Mr. Ferrell has served as Assistant Vice President and AML Compliance Officer for The Hartford since 2006 and as AML Compliance Officer for HASCO and Hartford Investor Services Company, LLC (“HISC”) since 2008. Prior to joining The Hartford in 2006, Mr. Ferrell held various positions at the U.S. Department of the Treasury, (the “Treasury”), from 2001 to 2006 where he served as Chief Counsel for the Treasury’s Financial Crimes Enforcement Network, (“FinCEN”) from 2005 — 2006.

20

Thomas D. Jones, III (1965) Vice President and Chief Compliance Officer since 2006

Mr. Jones serves as Chief Compliance Officer for the Hartford Mutual Funds and Vice President and Director of Securities Compliance for The Hartford. He is also Vice President of HIFSCO, HL Advisors, and Hartford Life Insurance Company. Mr. Jones joined The Hartford in 2006 from SEI Investments, where he served as Chief Compliance Officer for its mutual funds and investment advisers. Prior to joining SEI, Mr. Jones was First Vice President and Compliance Director for Merrill Lynch Investment Managers (Americas) (“MLIM”), where he worked from 1992-2004. At MLIM, Mr. Jones was responsible for the compliance oversight of various investment products, including mutual funds, wrap accounts, institutional accounts and alternative investments.

Edward P. Macdonald (1967) Vice President, Secretary and Chief Legal Officer since 2005

Mr. Macdonald serves as Assistant General Counsel and Assistant Vice President of The Hartford and Chief Legal Officer and Vice President of HIFSCO. He also serves as Vice President and Secretary of HASCO, Assistant Vice President of Hartford Life, and Chief Legal Officer, Secretary and Vice President of HL Advisors. Prior to joining The Hartford in 2005, Mr. Macdonald was Chief Counsel, Investment Management for Prudential Financial (formerly American Skandia Investment Services, Inc.). He joined Prudential in April 1999.

Vernon J. Meyer (1964) Vice President since 2006

Mr. Meyer serves as Senior Vice President of Hartford Life and as Director of its Investment Advisory Group in the Individual Markets Group segment. He also serves as Senior Vice President of HIFSCO and HL Advisors. Prior to joining The Hartford in 2004, Mr. Meyer was with MassMutual which he joined in 1987.

D. Keith Sloane (1960) Vice President since 2009

Mr. Sloane is a Senior Vice President of Hartford Life where he serves as Director of mutual fund product management for The Hartford’s mutual funds and 529 college savings businesses. Additionally, Mr. Sloane currently serves as Senior Vice President of HIFSCO, HL Advisors, and HASCO. Prior to joining The Hartford in 2007, Mr. Sloane was Director of product marketing and led the mutual fund business for Wachovia Securities (“Wachovia”) in their investment products group. Mr. Sloane joined Wachovia in 1995.

Jane Wolak (1961) Vice President since 2009

Ms. Wolak currently serves as Vice President of Hartford Life. Ms. Wolak joined Hartford Life as Vice President, Retail Product Services in May 2007. She is also Vice President of HASCO. Previously, Ms. Wolak was with Sun Life Financial where she held the position of Vice President, Service Center Operations from 2001 — 2007.

HOW TO OBTAIN A COPY OF THE FUND’S PROXY VOTING POLICIES AND VOTING RECORDS

A description of the policies and procedures that the Fund uses to determine how to vote proxies relating to portfolio securities and a record of how the Fund voted any proxies for the twelve-month period ended June 30, 2008 is available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov.

QUARTERLY PORTFOLIO HOLDINGS INFORMATION

The Fund files a complete schedule of portfolio holdings with the Commission for the first and third quarters of each fiscal year on Form N-Q. The Fund’s Forms are available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov. The Form N-Q may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330.

21

The Hartford Fundamental Growth Fund

Expense Example (Unaudited)

Your Fund’s Expenses

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments and contingent deferred sales charges (CDSC) (2) ongoing costs including management fees; distribution fees; and other fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the period of October 31, 2008 through April 30, 2009.

Actual Expenses

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

Hypothetical Example for Comparison Purposes

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

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads) and CDSC. Therefore, the second line 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 are equal to the Fund’s annualized expense ratios multiplied by average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

	Actual return						Hypothetical (5% return before expenses)
					Expenses paid						Expenses paid					Days in
					during the period						during the period					the		Days
	Beginning		Ending Account		October 31, 2008		Beginning		Ending Account		October 31,		Annualized			current		in the
	Account Value		Value		through		Account Value		Value		2008 through		expense			1/2		full
	October 31, 2008		April 30, 2009		April 30, 2009		October 31, 2008		April 30, 2009		April 30, 2009		ratio			year		year
Class A	$	1,000.00	$	978.86	$	6.62	$	1,000.00	$	1,018.10	$	6.75		1.35	%		181		365
Class B	$	1,000.00	$	974.93	$	9.54	$	1,000.00	$	1,015.12	$	9.74		1.95			181		365
Class C	$	1,000.00	$	974.93	$	10.43	$	1,000.00	$	1,014.23	$	10.63		2.13			181		365
Class Y	$	1,000.00	$	980.79	$	5.10	$	1,000.00	$	1,019.63	$	5.20		1.04			181		365

22

The Hartford Global Communications Fund

Table of Contents

Manager Discussions (Unaudited)	2
Financial Statements
Schedule of Investments at April 30, 2009 (Unaudited)	4
Statement of Assets and Liabilities at April 30, 2009 (Unaudited)	6
Statement of Operations for the Six Month Period Ended April 30, 2009 (Unaudited)	7
Statement of Changes in Net Assets for the Six Month Period Ended April 30, 2009 (Unaudited) and the Year Ended October 31, 2008	8
Notes to Financial Statements (Unaudited)	9
Financial Highlights (Unaudited)	19
Directors and Officers (Unaudited)	20
How to Obtain a Copy of the Fund’s Proxy Voting Policies and Proxy Voting Records (Unaudited)	22
Quarterly Portfolio Holdings Information (Unaudited)	22
Expense Example (Unaudited)	23

The Hartford Global Communications Fund
(subadvised by Wellington Management Company, LLP)

Performance Overview(1) 10/31/00 — 4/30/09
Growth of a $10,000 investment in Class A which includes Sales Charge

MSCI AC (All Country) World Telecommunication Services Index is a free float-adjusted market capitalization index which measures the performance of companies within the telecommunications sector across both developed and emerging market countries. The index is calculated to exclude companies and share classes which cannot be freely purchased by foreigners.

S&P 500 Index is a market capitalization weighted price index composed of 500 widely held common stocks.

You cannot invest directly in an index.

The value of shares will fluctuate so that, when redeemed, shares may be worth more or less than their original cost. The chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.

Investment objective – Seeks long-term capital appreciation.

Average Annual Total Returns(2,3) (as of 4/30/09)

	Inception		1			5			Since
	Date		Year			Year			Inception
Global Communications A#		10/31/00		-45.77	%		1.41	%		-6.53	%
Global Communications A##		10/31/00		-48.75	%		0.27	%		-7.15	%
Global Communications B#		10/31/00		-46.18	%		0.69	%	NA		*
Global Communications B##		10/31/00		-48.74	%		0.33	%	NA		*
Global Communications C#		10/31/00		-46.26	%		0.65	%		-7.22	%
Global Communications C##		10/31/00		-46.77	%		0.65	%		-7.22	%
Global Communications Y#		10/31/00		-45.64	%		1.85	%		-6.11	%

#	Without sales charge
##	With sales charge
NA	Not Applicable
*	Inception returns are not applicable for Class B because after 8 years Class B converts to Class A.

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)	Growth of a $10,000 investment in Classes B, C and Y shares will vary from results seen above due to differences in the expenses charged to these share classes.
(2)	The initial investment in Class A shares reflects the maximum sales charge and Classes B and C reflect CDSC.
(3)	Total returns presented above were calculated using the Fund’s net asset value available to shareholders for sale or redemption of Fund shares on April 30, 2009, which excludes investment transactions as of this date.

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

Portfolio Manager
Archana Basi, CFA
Senior Vice President, Partner

How did the Fund perform?

The Class A shares of The Hartford Global Communications Fund returned -4.21%, before sales charge, for the six-month period ended April 30, 2009, underperforming its benchmark, the MSCI All Country World Free Telecommunication Services Index, which returned 0.71% for the same period. The Fund also underperformed the 12.98% return of the average fund in the Lipper Telecommunications Funds peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

Broad U.S. equity markets fell during the period, but this overall decline masks two significantly different market environments. From the beginning of November through early March stocks fell sharply, reflecting deepening economic worries and concerns over the U.S. government’s increasing involvement in the economy. From early March through the end of April stocks rallied as investors came to believe that a Depression-like scenario was less likely. Telecommunication Services stocks outperformed the

2

broader U.S. market, which returned -8.5% during the period, as measured by the S&P 500 Index, and the world market return of -3.0%, as measured by the MSCI All Country World Index. Within the MSCI All Country World Free Telecommunication Services Index, Wireless Telecommunications (1.3%) was the stronger industry, followed by the Diversified Telecommunications industry (0.4%).

The Fund’s underperformance was driven by security selection, which was weak in both Wireless Telecommunications and Diversified Telecommunications. The largest detractors from relative (i.e. performance of the Fund as measured against the benchmark) and absolute (i.e. total return) performance were Vimpel-Communications, NII Holdings, and Mobile Telesystems. Shares of Russian mobile operator Vimpel-Communications fell amid concerns of declining local currency revenues. Shares of Latin American wireless communications provider NII Holdings fell amid concerns of increased churn and lower average revenue per user stemming from currency and economic issues in Mexico and Brazil. Despite increases in revenue over the past year, our position in Moscow-based mobile telecommunications services provider Mobile Telesystems detracted from performance as the impact of negative currency effects weighed on the stock’s price.

The Fund benefited from a number of holdings in emerging markets countries, where demand for telecommunication services continues to grow. Top contributors to relative performance during the period included Millicom International Cellular, Telekomunikasi Indo, and Equinix. Shares of mobile telephony services provider Millicom International Cellular rose after it announced that it would consider divesting its less profitable Asian operations. Telekomunikasi Indo, an Indonesian telecommunications and information network provider, performed well after signing a cooperation agreement with Telekom Malaysia Berhad. Shares of California-based data center and Internet exchange services company Equinix rose as the company announced earnings estimates above analysts’ expectations for the second quarter of 2009. The Fund continued to own positions in all three companies at the end of the period. South Africa-based telecommunications company MTN Group contributed significantly to absolute returns.

What is the outlook?

Telecommunications companies, with their strong balance sheets and seemingly secure dividend yields, should be well positioned to withstand a prolonged economic downturn relative to other companies. The negative economic environment may help reduce competition for the larger players in the sector as newcomers may struggle for funding.

We expect to see next generation network development and spectrum auctions in the next few years with mobile capital expenditures falling to offset fixed line spending. We believe merger and acquisition activity will continue, although more so in Europe than in the U.S. There is also complex regulatory uncertainty on a range of topics from termination fees for mobile contracts in Europe to subsidies for rural local exchange carriers in the U.S.

We continue to favor stocks in emerging markets given the favorable relative growth outlook in many of these countries, despite slowing global economic growth and signs of some weakening in emerging economies.

At a meeting held on February 4, 2009, the Board of Directors of The Hartford Mutual Funds, Inc. approved the reorganizations (each, a “Reorganization”) of The Hartford Global Communications Fund, The Hartford Global Financial Services Fund and The Hartford Global Technology Fund (each, an “Acquired Fund”) with and into The Hartford Global Equity Fund (the “Acquiring Fund”).

The Board of Directors has called for a Special Meeting of Shareholders of each Acquired Fund (the “Meeting”) to be held on or about August 4, 2009, for the purpose of seeking the approval of an Agreement and Plan of Reorganization (“Reorganization Agreement”) by the shareholders of the respective Acquired Fund.

Diversification by Industry
as of April 30, 2009

	Percentage of
Industry	Net Assets
Alternative Carriers		2.9	%
Cable & Satellite		2.1
Integrated Telecommunication Services		48.8
Internet Software & Services		6.3
Wireless Telecommunication Services		38.3
Short-Term Investments		0.8
Other Assets and Liabilities		0.8
Total		100.0	%

Diversification by Country
as of April 30, 2009

	Percentage of
Country	Net Assets
Brazil		11.8	%
France		7.2
Germany		5.4
India		4.8
Indonesia		4.5
Israel		6.1
Italy		4.0
Luxembourg		6.9
Netherlands		1.4
Russia		5.6
South Africa		6.5
Spain		8.5
Turkey		2.1
United States		23.6
Short-Term Investments		0.8
Other Assets and Liabilities		0.8
Total		100.0	%

3

The Hartford Global Communications Fund

Schedule of Investments
April 30, 2009 (Unaudited)
(000’s Omitted)

Shares or Principal Amount					Market Value ╪
COMMON STOCKS — 89.0%
		Brazil — 7.2%
	43	Brasil Telecom S.A. ADR			$	804
	29	Tele Norte Leste Participacoes S.A. ADR				454
						1,258
		France — 7.2%
	56	France Telecom S.A.				1,253
		Germany — 5.4%
	78	Deutsche Telekom AG				941
		Indonesia — 4.5%
	27	P.T. Telekomunikasi Indonesia ADR				779
		Israel — 6.1%
	14	Cellcom Israel Ltd.				309
	46	Partner Communications Co., Ltd. ADR				749
						1,058
		Italy — 4.0%
	767	Telecom Italia S.p.A.				686
		Luxembourg — 6.9%
	25	Millicom International Cellular S.A.				1,197
		Netherlands — 1.4%
	20	Koninklijke (Royal) KPN N.V.				245
		Russia — 5.6%
	20	Mobile Telesystems OJSC ADR				665
	33	Vimpel-Communications ADR				308
						973
		South Africa — 6.5%
	86	MTN Group Ltd.				1,120
		Spain — 8.5%
	26	Telefonica S.A. ADR				1,472
		Turkey — 2.1%
	29	Turkcell Iletisim Hizmetleri AS ADR				365
		United States — 23.6%
	19	American Tower Corp. Class A •				592
	12	CenturyTel, Inc.				334
	12	Comcast Corp. Special Class A				175
	16	Equinix, Inc. •				1,092
	50	NII Holdings, Inc. Class B •				815
	103	Qwest Communications International, Inc.				401
	6	Time Warner Cable, Inc.				185
	54	TW Telecom, Inc. •				496
						4,090
		Total common stocks (cost $23,076)			$	15,437
PREFERRED STOCKS — 4.6%
		Brazil — 4.6%
	32	Telemar Norte Leste S.A.			$	796
		Total preferred stocks (cost $907)			$	796
WARRANTS-4.8%
		India 4.8%
	56	Citigroup Global Certificate — Bharti Televentures ⌂•			$	843
		Total warrants (cost $641)			$	843
		Total long-term investments (cost $24,624)			$	17,076
SHORT-TERM INVESTMENTS — 0.8%
		Repurchase Agreements — 0.8%
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $35, collateralized by GNMA 4.50% - 6.50%, 2038 - 2039, value of $35)
$	35	0.18%, 04/30/2009			$	35
		BNP Paribas Securities Corp. TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $41, collateralized by FHLMC 4.50% - 6.50%, 2035 - 2039, FNMA 4.50% - 6.50%, 2034 - 2047, value of $42)
	41	0.17%, 04/30/2009				41
		Deutsche Bank Securities TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $58, collateralized by FHLMC 4.00% - 7.00%, 2021 - 2039, FNMA 6.00% - 7.00%, 2034 - 2038, GNMA 4.50% - 7.00%, 2024 - 2039, value of $59)
	58	0.17%, 04/30/2009				58
		UBS Securities, Inc. Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $-, collateralized by U.S. Treasury Bond 7.50%, 2024, value of $-)
	—	0.14%, 04/30/2009				—
		UBS Securities, Inc. TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $12, collateralized by FHLMC 8.00% - 15.00%, 2009 - 2021, FNMA 3.50% - 15.50%, 2012 - 2039, value of $13)
	12	0.16%, 04/30/2009				12
						146
		Total short-term investments (cost $146)			$	146
		Total investments (cost $24,770)▲	99.2	%	$	17,222
		Other assets and liabilities	0.8	%		131
		Total net assets	100.0	%	$	17,353

Note: Percentage of investments as shown is the ratio of the total market value to total net assets. Market value of investments in foreign securities represents 74.84% of total net assets at April 30, 2009.

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

4

	Foreign securities that are principally traded on certain foreign markets are adjusted daily pursuant to a third party pricing service methodology approved by the Board of Directors in order to reflect an adjustment for factors occurring after the close of the foreign market but before the close of the New York Stock Exchange.
▲	At April 30, 2009, the cost of securities for federal income tax purposes was $24,850 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	352
Unrealized Depreciation		(7,980	)
Net Unrealized Depreciation	$	(7,628	)

•	Currently non-income producing.
⌂	The following securities are considered illiquid. Illiquid securities are often purchased in private placement transactions, are often not registered under the Securities Act of 1933 and may have contractual restrictions on resale. A security may also be considered illiquid if the security lacks a readily available market or if its valuation has not changed for a certain period of time.

Period	Shares/
Acquired	Par		Security	Cost Basis
08/2005 - 01/2008		56	Citigroup Global Certificate Bharti Televentures - 144A Warrants	$	641

The aggregate value of these securities at April 30, 2009 was $843 which represents 4.86% of total net assets.

Forward Foreign Currency Contracts Outstanding at April 30, 2009

							Unrealized
	Market		Contract		Delivery		Appreciation/
Description	Value ╪		Amount		Date		(Depreciation)
Euro (Sell)	$	169	$	170		05/05/09	$	1

╪ See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of securities.

Diversification by Industry
as of April 30, 2009

	Percentage of
Industry	Net Assets
Alternative Carriers		2.9	%
Cable & Satellite		2.1
Integrated Telecommunication Services		48.8
Internet Software & Services		6.3
Wireless Telecommunication Services		38.3
Short-Term Investments		0.8
Other Assets and Liabilities		0.8
Total		100.0	%

FAS 157 Disclosure of Investment Valuation Hierarchy Levels

Assets:
Investment in securities — Level 1	$	13,772
Investment in securities — Level 2		3,450
Total	$	17,222
Other financial instruments — Level 2 *		1
Total	$	1

* Other financial instruments are derivative instruments not reflected in the Schedule of Investments, such as futures, forwards and swap contracts, which are valued at the unrealized appreciation/depreciation on the investment.

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

5

The Hartford Global Communications Fund

Statement of Assets and Liabilities
April 30, 2009 (Unaudited)
(000’s Omitted)

Assets:
Investments in securities, at fair value (cost $24,770)	$	17,222
Cash		1
Foreign currency on deposit with custodian (cost $–)		—
Unrealized appreciation on forward foreign currency contracts		1
Receivables:
Investment securities sold		254
Fund shares sold		32
Dividends and interest		106
Other assets		62
Total assets		17,678
Liabilities:
Unrealized depreciation on forward foreign currency contracts		—
Payables:
Investment securities purchased		258
Fund shares redeemed		38
Investment management fees		3
Distribution fees		1
Accrued expenses		25
Total liabilities		325
Net assets	$	17,353
Summary of Net Assets:
Capital stock and paid-in-capital		31,635
Accumulated undistributed net investment income		129
Accumulated net realized loss on investments and foreign currency transactions		(6,864	)
Unrealized depreciation of investments and the translation of assets and liabilities denominated in foreign currency		(7,547	)
Net assets	$	17,353
Shares authorized		300,000
Par value	$	0.001
Class A: Net asset value per share/Maximum offering price per share	$	4.89/$5.17
Shares outstanding		2,357
Net assets	$	11,525
Class B: Net asset value per share	$	4.70
Shares outstanding		498
Net assets	$	2,343
Class C: Net asset value per share	$	4.72
Shares outstanding		651
Net assets	$	3,074
Class Y: Net asset value per share	$	4.97
Shares outstanding		83
Net assets	$	411

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

6

The Hartford Global Communications Fund

Statement of Operations
For the Six Month Period Ended April 30, 2009 (Unaudited)
(000’s Omitted)

Investment Income:
Dividends	$	345
Interest		—
Securities lending		2
Less: Foreign tax withheld		(42	)
Total investment income		305
Expenses:
Investment management fees		81
Transfer agent fees		55
Distribution fees
Class A		15
Class B		12
Class C		17
Custodian fees		5
Accounting services		1
Registration and filing fees		21
Board of Directors’ fees		1
Audit fees		4
Other expenses		11
Total expenses (before waivers and fees paid indirectly)		223
Expense waivers		(56	)
Transfer agent fee waivers		(28	)
Commission recapture		(1	)
Custodian fee offset		—
Total waivers and fees paid indirectly		(85	)
Total expenses, net		138
Net investment income		167
Net Realized Loss on Investments and Foreign Currency Transactions:
Net realized loss on investments in securities		(3,832	)
Net realized loss on foreign currency transactions		(8	)
Net Realized Loss on Investments and Foreign Currency Transactions		(3,840	)
Net Changes in Unrealized Appreciation of Investments and Foreign Currency Transactions:
Net unrealized appreciation of investments		2,379
Net unrealized appreciation on translation of other assets and liabilities in foreign currencies		10
Net Changes in Unrealized Appreciation of Investments and Foreign Currency Transactions		2,389
Net Loss on Investments and Foreign Currency Transactions		(1,451	)
Net Decrease in Net Assets Resulting from Operations	$	(1,284	)

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

7

The Hartford Global Communications Fund

Statement of Changes in Net Assets

(000’s Omitted)

	For the Six-Month
	Period Ended			For the
	April 30, 2009			Year Ended
	(Unaudited)			October 31, 2008
Operations:
Net investment income	$	167		$	1,059
Net realized loss on investments and foreign currency transactions		(3,840	)		(2,455	)
Net unrealized appreciation (depreciation) of investments and foreign currency transactions		2,389			(22,152	)
Net decrease in net assets resulting from operations		(1,284	)		(23,548	)
Distributions to Shareholders:
From net investment income
Class A		(674	)		(31	)
Class B		(123	)		—
Class C		(151	)		—
Class Y		(26	)		(9	)
From net realized gain on investments
Class A		—			(1,352	)
Class B		—			(282	)
Class C		—			(502	)
Class Y		—			(43	)
Total distributions		(974	)		(2,219	)
Capital Share Transactions:
Class A		(1,584	)		1,151
Class B		(286	)		6
Class C		(745	)		(1,389	)
Class Y		6			83
Net decrease from capital share transactions		(2,609	)		(149	)
Net decrease in net assets		(4,867	)		(25,916	)
Net Assets:
Beginning of period		22,220			48,136
End of period	$	17,353		$	22,220
Accumulated undistributed net investment income	$	129		$	936

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

8

The Hartford Global Communications Fund

Notes to Financial Statements
April 30, 2009 (Unaudited)
(000’s Omitted)

1.	Organization:
	The Hartford Mutual Funds, Inc. (“Company”) is an open-end management investment company comprised of fifty-two portfolios. Financial statements for The Hartford Global Communications Fund (the “Fund”), a series of the Company, are included in this report. The Company is organized under the laws of the State of Maryland and is registered with the Securities and Exchange Commission (“SEC”) under the Investment Company Act of 1940, as amended (“1940 Act”). The Fund is a non-diversified open-end management investment company. Class A shares are sold with a front-end sales charge of up to 5.50%. Class B shares are sold with a contingent deferred sales charge which is assessed on the lesser of the per share net asset value (“NAV”) of the shares at the time of redemption or the original purchase price, and declines from up to 5.00% to zero depending on the period of time the shares are held. Class C shares are sold with a contingent deferred sales charge of up to 1.00% on shares redeemed within twelve months of purchase. Class Y shares, which are sold to certain eligible institutional investors, are sold without a sales charge. All classes of shares have identical voting, redemption, dividend, liquidation and other rights and the same terms and conditions, with the exceptions that each class may have different expenses, which may affect performance, and except that Class B shares automatically convert to Class A shares after 8 years. Effective at the close of business on September 30, 2009 (the “Close Date”), no new or additional investments will be allowed in Class B shares of The Hartford Mutual Funds (including investments through any systematic investment plan). After the Close Date, existing shareholders of Class B shares may continue to hold their Class B shares, exchange their Class B shares for Class B shares of another Hartford Mutual Fund (as permitted by existing exchange privileges), and redeem their Class B shares as described in the Fund’s prospectus. Reinstatement privileges with respect to Class B shares will continue under the current policy. If you have chosen to reinvest capital gains and dividends, any such capital gains or dividends on Class B shares will continue to be reinvested in Class B shares of the Fund. For Class B shares outstanding as of the Close Date, all Class B share attributes, including the 12b-1 fee, contingent deferred sales charge schedule, and conversion to Class A shares remain unchanged.
2.	Significant Accounting Policies:
	The following is a summary of significant accounting policies of the Fund, which are in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”).

a)	Security Transactions and Investment Income — Security transactions are recorded on the trade date (the date the order to buy or sell is executed). Security gains and losses are determined on the basis of identified cost.
	Dividend income is accrued as of the ex-dividend date, except that certain dividends for foreign securities where the ex-dividend date may have passed are recorded as soon as the Fund is informed of the dividend in the exercise of reasonable diligence. Interest income, including amortization of premium and accretion of discounts, is accrued on a daily basis.
b)	Security Valuation — The Fund generally uses market prices in valuing portfolio securities. If market prices are not readily available or are deemed unreliable, the Fund will use the fair value of the security as determined in good faith under policies and procedures established by and under the supervision of the Fund’s Board of Directors. Market prices may be deemed unreliable, for example, if a security is thinly traded or if an event has occurred after the close of the security’s primary markets, but before the close of the New York Stock Exchange (the “Exchange”) (normally 4:00 p.m. Eastern Time, referred to as the “Valuation Time”) that is expected to affect the value of the portfolio security. The circumstances in which the Fund may use fair value pricing include, among others: (i) the occurrence of events that are significant to a particular issuer, such as mergers, restructuring or defaults; (ii) the occurrence of events that are significant to an entire market, such as natural disasters in a particular region or governmental actions; (iii) trading restrictions on securities; (iv) thinly traded securities and (v) market events such as trading halts and early market

9

The Hartford Global Communications Fund

Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

	closings. In addition, with respect to the valuation of stocks primarily traded on foreign markets, the Fund uses a fair value pricing service approved by the Fund’s Board of Directors, which employs quantitative models that evaluate changes in the value of foreign market proxies (e.g., futures contracts, ADR’s, exchange traded funds (“ETF’s”)) after the close of the foreign markets but before the close of the Exchange. Securities that are primarily traded on foreign markets may trade on days that are not business days of the Fund. The value of the foreign securities in which the Fund invests may change on days when a shareholder will not be able to purchase or redeem shares of the Fund. Fair value pricing is subjective in nature and the use of fair value pricing by the Fund may cause the NAV of its shares to differ significantly from the NAV that would have been calculated using market prices at the close of the exchange on which a portfolio security is primarily traded but before the close of the Exchange. There can be no assurance that the Fund could obtain the fair value assigned to a security if the Fund were to sell the security at approximately the time at which the Fund determines its NAV.
	Securities of foreign issuers and non-dollar securities are translated from the local currency into U.S. dollars using prevailing exchange rates.
	Financial instruments for which prices are not available from an independent pricing service are valued using market quotations obtained from one or more dealers that make markets in securities in accordance with procedures established by the Fund’s Board of Directors. A forward currency contract shall be valued based on the price of the underlying currency at the prevailing interpolated exchange rate, which is a combination of the spot currency rate and the forward currency rate. Spot currency rates and forward currency rates are obtained from an independent pricing service on a daily basis not more than one hour before the Valuation Time. Other derivative or contractual type instruments shall be valued using market prices if such instruments trade on an exchange or market. If such instruments do not trade on an exchange or market, such instruments shall be valued at a price at which the counterparty to such contract would repurchase the instrument. In the event that the counterparty cannot provide a price, such valuation may be determined in accordance with procedures established by the Fund’s Board of Directors.
c)	Foreign Currency Transactions — The accounting records of the Fund are maintained in U.S. dollars. All assets and liabilities initially expressed in foreign currencies are converted into U.S. dollars at the prevailing exchange rates. Purchases and sales of investment securities, dividend and interest income and certain expenses are translated at the rates of exchange prevailing on the respective dates of such transactions.
	The Fund does not isolate that portion of portfolio security valuation resulting from fluctuations in the foreign currency exchange rates on portfolio securities from the fluctuations arising from changes in the market prices of securities held. Such fluctuations are included with the net realized and unrealized gain or loss on investments in the accompanying financial statements.
	Net realized foreign exchange gains or losses arise from sales of foreign currencies and the difference between asset and liability amounts initially stated in foreign currencies and the U.S. dollar value of the amounts actually received or paid. Net unrealized foreign exchange gains or losses arise from changes in the value of other assets and liabilities at the end of the reporting period, resulting from changes in the exchange rates.
d)	Securities Lending — The Fund may lend its securities to certain qualified brokers who pay the Fund negotiated lender fees. The loans are fully collateralized at all times with cash and/or U.S. Government Securities and/or repurchase agreements. The cash collateral is then invested in short-term money market instruments. The repurchase agreements are fully collateralized by U.S. Government Securities. The adequacy of the collateral for securities on loan is monitored on a daily basis. For instances where the market value of collateral falls below the market value of the securities out on loan, such collateral is supplemented on the following business day.

10

	While securities are on loan, the Fund is subject to the following risks: 1) that the borrower may default on the loan and that the collateral could be inadequate in the event the borrower defaults, 2) that the earnings on the collateral invested may not be sufficient to pay fees incurred in connection with the loan, 3) that the principal value of the collateral invested may decline and may not be sufficient to pay back the borrower for the amount of the collateral posted, 4) that the borrower may use the loaned securities to cover a short sale which may place downward pressure on the market prices of the loaned securities, 5) that return of loaned securities could be delayed and could interfere with portfolio management decisions and 6) that any efforts to recall the securities for purposes of voting a proxy may not be effective. The Fund had no securities out on loan as of April 30, 2009.
e)	Joint Trading Account — Pursuant to an exemptive order issued by the SEC, the Fund may transfer uninvested cash balances into a joint trading account managed by Wellington Management Company, LLP (“Wellington”). These balances may be invested in one or more repurchase agreements and/or short-term money market instruments.
f)	Repurchase Agreements — A repurchase agreement is an agreement by which the seller of a security agrees to repurchase the security sold at a mutually agreed upon time and price. At the time the Fund enters into a repurchase agreement, the value of the underlying collateral security(ies), including accrued interest, will be equal to or exceed the value of the repurchase agreement. Securities that serve to collateralize the repurchase agreement are held by the Fund’s custodian in book entry or physical form in the custodial account of the Fund or in a third party custodial account. Repurchase agreements are valued at cost plus accrued interest. The Fund, as shown on the Schedule of Investments, had outstanding repurchase agreements as of April 30, 2009.
g)	Forward Foreign Currency Contracts — The Fund may enter into forward foreign currency contracts that obligate the Fund to repurchase/replace or sell currencies at specified future dates. Forward foreign currency contracts may be used to hedge against adverse fluctuations in exchange rates between currencies.
	Forward foreign currency contracts involve elements of market risk in excess of the amount reflected in the Statement of Assets and Liabilities. In addition, risks may arise upon entering into these contracts from the potential inability of the counterparties to meet the terms of the contracts and from unanticipated movements in the value of the foreign currencies relative to the U.S. dollar.
h)	Fund Share Valuation and Dividend Distributions to Shareholders — Orders for the Fund’s shares are executed in accordance with the investment instructions of the shareholders. The NAV of the Fund’s shares is determined as of the close of each business day of the Exchange. The NAV is determined separately for each class of the Fund by dividing the Fund’s net assets attributable to that class by the number of shares of the class outstanding. Orders for the purchase of the Fund’s shares prior to the close of the Exchange on any day on which the Exchange is open for business are priced at the NAV determined as of the close of the Exchange. Orders after the close of the Exchange, or on a day on which the Exchange and/or the Fund is not open for business, are priced at the next determined NAV.
	The Fund intends to distribute substantially all of its net investment income and net realized capital gains to shareholders no less frequently than once a year. Normally, dividends from net investment income are declared and paid annually. Dividends are paid on shares beginning on the business day after the day when the funds used to purchase the shares are collected by the transfer agent for the Fund. Unless shareholders specify otherwise, all dividends will be automatically reinvested in additional full or fractional shares of the Fund.
	Distributions from net investment income, realized capital gains and capital are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP with respect to character and timing. These differences include but are not limited to foreign currency gains and losses, losses deferred due to wash sales adjustments, adjustments related to Passive Foreign Investment Companies and certain derivatives, and excise tax regulations. Permanent book and federal income tax basis differences relating to shareholder distributions will result in reclassifications to certain of the Fund’s capital accounts (see Federal Income Taxes: Reclassification of Capital Accounts footnote).

11

The Hartford Global Communications Fund

Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

i)	Illiquid and Restricted Securities — The Fund is permitted to invest up to 15% of its net assets in illiquid securities. “Illiquid Securities” are those that may not be sold or disposed of in the ordinary course of business within seven days, at approximately the price used to determine the Fund’s NAV. The Fund may not be able to sell illiquid securities or other investments when its sub-adviser considers it desirable to do so or may have to sell such securities or investments at a price that is lower than the price that could be obtained if the securities or investments were more liquid. A sale of illiquid securities or other investments may require more time and may result in higher dealer discounts and other selling expenses than does the sale of those that are liquid. Illiquid securities and investments also may be more difficult to value, due to the unavailability of reliable market quotations for such securities or investments, and investment in them may have an adverse impact on the Fund’s NAV. The Fund may also purchase certain restricted securities, commonly known as Rule 144A securities, that can be resold to institutions and which may be determined to be liquid pursuant to policies and guidelines established by the Fund’s Board of Directors. The Fund, as shown in the Schedule of Investments, had illiquid or restricted securities as of April 30, 2009.
j)	Use of Estimates — The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and the reported amounts of income and expenses during the period. Operating results in the future could vary from the amounts derived from management’s estimates.
k)	Financial Accounting Standards Board Financial Accounting Standards No. 157 — Effective November 1, 2008, the Fund adopted Financial Accounting Standards Board (“FASB”) Statement of Financial Accounting Standards No. 157, “Fair Value Measurements” (“FAS 157”). This standard clarifies the definition of fair value for financial reporting, establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements. Fair value is defined under FAS 157 as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Under FAS 157, a fair value measurement should reflect all of the assumptions that market participants would use in pricing the asset or liability, including assumptions about the risk inherent in a particular valuation technique, the effect of a restriction on the sale or use of an asset, and the risk of nonperformance.
	Various inputs are used in determining the value of the Fund’s investment. These inputs are summarized, per FAS 157, into three broad hierarchy levels. This hierarchy is based on whether the valuation inputs are observable or unobservable. These levels are:

• Level 1 — Quoted prices in active markets for identical securities. Level 1 includes exchange-traded instruments such as domestic equities, some foreign equities, options, futures, mutual funds, ETF’s, and rights and warrants.

• Level 2 — Observable inputs other than Level 1 prices, such as quoted prices for similar securities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the security. Level 2 includes debt securities that are traded less frequently than exchange-traded instruments and that are valued using third party pricing services and foreign equities, whose value is determined using a multi-factor regression model with inputs that are observable in the market; and money market instruments, which are carried at amortized cost.

• Level 3 — Significant unobservable inputs that are supported by little or no market activity. Level 3 includes financial instruments whose values are determined using broker quotes and require significant management judgment or estimation. This category includes broker quoted securities, long dated OTC options and securities where trading has been halted or there are certain restrictions on trading. While these securities are priced using unobservable inputs, the valuation of these securities reflects the best available data and management believes the prices are a good representation of exit price.

Individual securities within any of the above mentioned asset classes may be assigned a different hierarchical level than those presented above, as individual circumstances dictate.

12

	FAS 157 also requires that a roll forward reconciliation be shown for all Level 3 securities from the beginning of the reporting period to the end of the reporting period. Part of this reconciliation includes transfers in and/or out of Level 3. For purposes of this reconciliation, transfers in are shown at the end of period fair value and transfers out are shown at the beginning of period fair value. During the six-month period ended April 30, 2009, the Fund held no Level 3 securities.
	Refer to the valuation hierarchy levels summary found following the Schedule of Investments.
	FASB Staff Position No. 157-4 — In April 2009, FASB released FASB Staff Position No. 157-4, “Determining Fair Value When the Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly” (“FSP FAS 157-4”). FSP FAS 157-4 provides additional guidance on determining whether a market for a financial asset is not active and a transaction is not distressed when measuring fair value under FAS 157. The FSP also requires additional disclosure detail on debt and equity securities by major investment categories. FSP FAS 157-4 is effective for interim and annual periods ending after June 15, 2009. At this time, management is evaluating the implications of FSP FAS 157-4 and does not believe it will impact valuation but will require additional disclosure. This additional disclosure has not yet been implemented.
l)	Financial Accounting Standards Board Financial Accounting Standards No. 161 — In March 2008, the FASB released Statement of Financial Accounting Standards No. 161, “Disclosures about Derivative Instruments and Hedging Activities” (“FAS 161”). FAS 161 requires companies to disclose information detailing the objectives and strategies for using derivative instruments, the level of derivative activity entered into by the company and any credit risk-related contingent features of the agreements. The application of FAS 161 is required for fiscal years and interim periods beginning after November 15, 2008. At this time, management is evaluating the implications of FAS 161 and has not yet implemented the new disclosure standard.
m)	Indemnifications: Under the Company’s organizational documents, the Company shall indemnify its officers and directors to the full extent required or permitted under Maryland General Corporation Law and the federal securities law. In addition, the Company, on behalf of the Fund, may enter into contracts that contain a variety of indemnifications. The Company’s maximum exposure under these arrangements is unknown. However, the Company has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote.

3. Federal Income Taxes:

a)

Federal Income Taxes — For federal income tax purposes, the Fund intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code (“IRC”) by distributing substantially all of its taxable net investment income and net realized capital gains to its shareholders and otherwise complying with the requirements of regulated investment companies. The Fund has distributed substantially all of its income and capital gains in prior years and the Fund intends to distribute substantially all of its income and gains during the calendar year ending December 31, 2009. Accordingly, no provision for federal income or excise taxes has been made in the accompanying financial statements. Distributions from short-term capital gains are treated as ordinary income distributions for federal income tax purposes.

b)

The tax character of distributions paid by the Fund for the periods indicated is as follows (as adjusted for dividends payable):

	For the Year Ended		For the Year Ended
	October 31, 2008		October 31, 2007
Ordinary Income	$	40	$	391
Long-Term Capital Gains *		2,179		153

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

13

The Hartford Global Communications Fund

Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

                    As of October 31, 2008, the Fund’s components of distributable earnings (deficit) on a tax basis were as follows:

	Amount
Undistributed Ordinary Income	$	933
Accumulated Capital Losses*	$	(2,944	)
Unrealized Depreciation†	$	(10,013	)
Total Accumulated Deficit	$	(12,024	)

*	The Fund has capital loss carryforwards that are identified in the Capital Loss Carryforward note that follows.
†	The differences between book-basis and tax-basis unrealized appreciation (depreciation) are attributable to the tax deferral of wash sales losses, the mark-to-market adjustment for certain derivatives in accordance with IRC Sec. 1256, the mark to market for Passive Foreign Investment Companies and basis differences in real estate investment trusts.

c)

Reclassification of Capital Accounts - In accordance with American Institute of Certified Public Accountants (AICPA) Statement of Position 93-2, Determination, Disclosure, and Financial Statement Presentation of Income, Capital Gain, and Return of Capital Distributions by Investment Companies, the Fund has recorded reclassifications in its capital accounts. These reclassifications had no impact on the NAV of the Fund. The reclassifications are a result of permanent differences between GAAP and tax accounting for such items as net operating losses that reduce distribution requirements. Adjustments are made to reflect the impact these items have on current and future distributions to shareholders. Therefore, the source of the Fund’s distributions may be shown in the accompanying Statement of Changes in Net Assets as from net investment income, from net realized gains on investments or from capital depending on the type of book and tax differences that exist. As of October 31, 2008, the Fund recorded reclassifications to decrease undistributed net investment income by $80 and increase accumulated net realized gain by $80.

d)

Capital Loss Carryforward — At October 31, 2008 (tax-year-end), the Fund had capital loss carryforwards for U.S. federal income tax purposes of approximately:

Year	Amount
2016	$	2,944
Total	$	2,944

e) Financial Accounting Standards Board Interpretation No. 48 — On July 13, 2006, the FASB released FASB Interpretation No. 48 “Accounting for Uncertainty in Income Taxes” (“FIN 48”). FIN 48 provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. The Fund adopted FIN 48 for fiscal years beginning after December 15, 2006. Management has evaluated the implications of FIN 48 for all open tax years (tax years ended October 31, 2006 – 2008) and has determined there is no impact to the Fund’s financial statements.

4. Expenses:

a) Investment Management Agreements — Hartford Investment Financial Services, LLC (“HIFSCO”) serves as investment manager to the Fund pursuant to an Investment Management Agreement with The Hartford Mutual Funds, Inc. As investment manager, HIFSCO has overall investment supervisory responsibility for the Fund. In addition, HIFSCO provides administrative personnel, services, equipment, facilities and office space for proper operation of the Fund. HIFSCO has contracted with Wellington for the provision of day-to-day investment management services to the Fund in accordance with the Fund’s investment objective and policies. The Fund pays a fee to HIFSCO, a portion of which may be used to compensate Wellington.

14

The schedule below reflects the rates of compensation paid to HIFSCO for investment management services rendered during the six-month period ended April 30, 2009; the rates are accrued daily and paid monthly:

Average Daily Net Assets	Annual Fee
On first $500 million		0.9000	%
On next $500 million		0.8500	%
On next $4 billion		0.8000	%
On next $5 billion		0.7975	%
Over $10 billion		0.7950	%

b) Accounting Services Agreement — Pursuant to the Fund Accounting Agreement between Hartford Life Insurance Company (“HLIC”) and the Fund, HLIC provides accounting services to the Fund and receives monthly compensation on the Fund’s average net assets. The Fund’s accounting service fees are accrued daily and paid monthly.

Average Daily Net Assets	Annual Fee
On first $5 billion		0.012	%
Over $5 billion		0.010	%

c) Operating Expenses — Allocable expenses incurred by the Company are allocated to each Fund and allocated to classes within the Fund in proportion to the average daily net assets of the Fund and each class, except where allocation of certain expenses is more fairly made directly to the Fund or to specific classes within a Fund. During the six-month period ended April 30, 2009, HIFSCO has contractually limited the total operating expenses of this Fund, exclusive of taxes, interest expense, brokerage commissions, certain distribution expenses and extraordinary expenses as follows:

Class A	Class B			Class C			Class Y
1.60%		2.35	%		2.35	%		1.20	%

d)

Fees Paid Indirectly — The Fund has entered into agreements with State Street Global Markets, LLC and Russell Implementation Services Inc. to partially recapture non-discounted trade commissions. Such rebates are used to pay a portion of the Fund’s expenses. In addition, the Fund’s custodian bank has also agreed to reduce its fees when the Fund maintains cash on deposit in the non-interest-bearing custody account. For the six-month period ended April 30, 2009, these amounts are included in the Statement of Operations.

The ratio of expenses to average net assets in the accompanying financial highlights excludes the reduction in expenses related to fees paid indirectly. Had the fees paid indirectly been included, the annualized expense ratio for the periods listed below would have been as follows:

	Annualized
	Six-Month
	Period			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended
	Ended April			October 31,			October 31,			October 31,			October 31,			October 31,
	30, 2009			2008			2007			2006			2005			2004
Class A Shares		1.30	%		1.60	%		1.60	%		1.11	%		1.49	%		1.63	%
Class B Shares		1.90			2.24			2.30			1.73			2.24			2.33
Class C Shares		2.11			2.35			2.34			1.85			2.23			2.33
Class Y Shares		1.20			1.11			1.11			0.70			1.04			1.17

e) Distribution and Service Plan for Class A, B and C Shares — HIFSCO is the principal underwriter and distributor of the Fund. HIFSCO is engaged in distribution activities, which include marketing and distribution of shares through broker-dealers, financing distribution costs and maintaining financial books and records. For the six-month period ended April 30, 2009, HIFSCO received front-end load sales charges of $11 and contingent deferred sales charges of $5 from the Fund.

15

The Hartford Global Communications Fund

Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

	The Fund has adopted Distribution and Service Plans in accordance with Rule 12b-1 of the Investment Company Act of 1940, as amended, to compensate the distributor (HIFSCO) for activities intended to result in the sale and distribution of Classes A, B and C shares and for providing services for shareholders. The Rule 12b-1 plan applicable to Class A shares of the Funds provides for payment of a Rule 12b-1 fee of up to 0.35% of average daily net assets; however, the Board of Directors has currently authorized 12b-1 payments of only up to 0.25%. Some or all of the fee may be used for shareholder servicing expenses with the remainder used for distribution expenses. Some or the entire Rule 12b-1 fee for Class B shares may be remitted to broker-dealers for distribution and/or shareholder account services. Under the Class B Plan, the Fund pays the distributor 1.00% of the average daily net assets of Class B shares that are outstanding for 8 years or less, 0.25% of which is a fee for services provided to existing shareholders with the remainder used for distribution expenses. After eight years, Class B shares convert to Class A shares. Upon conversion to Class A shares, the Class A plan described above will apply to those shares. Under the Class C Plan, the Fund pays the Distributor 1.00% of the average daily net assets of Class C shares outstanding, 0.25% of which is intended as a fee for services provided to existing shareholders with the remainder used for distribution expenses. For Class C shares, some or the entire fee may be remitted to broker-dealers for distribution and/or shareholder account services. The Fund’s 12b-1 fees are accrued daily and paid monthly. For the six-month period ended April 30, 2009, total sales commissions paid to affiliated brokers/dealers of The Hartford for distributing the Fund’s shares were $1. These commissions are in turn paid to sales representatives of the broker/dealers.
f)	Other Related Party Transactions — Certain officers of the Fund are directors and/or officers of HIFSCO and/or The Hartford or its subsidiaries. For the six-month period ended April 30, 2009, a portion of the Fund’s chief compliance officer’s salary was paid by the Fund in an amount, which rounds to zero. Hartford Administrative Services Company (“HASCO”), an indirect wholly owned subsidiary of The Hartford, provides transfer agent services to the Fund. HASCO was compensated $39 for providing such services. These fees are accrued daily and paid monthly.
g)	Payments from Affiliate:
	The total return in the accompanying financial highlights includes payment from affiliates. Had the payment from affiliates been excluded, the total return for the periods listed below would have been as follows:

	Impact from			Total Return
	Payment from			Excluding
	Affiliate for SEC			Payment from
	Settlement for the			Affiliate for the
	Year Ended			Year Ended
	October 31, 2007			October 31, 2007
Class A		0.02	%		39.00	%
Class B		0.02			37.99
Class C		0.02			37.94
Class Y		0.02			39.55

5.	Investment Transactions:
	For the six-month period ended April 30, 2009, the Fund’s aggregate purchases and sales of investment securities (excluding short-term investments) were as follows:

	Amount
Cost of Purchases Excluding U.S. Government Obligations	$	2,836
Sales Proceeds Excluding U.S. Government Obligations		6,074

16

6.	Capital Share Transactions:
	The following information is for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	For the Six-Month Period Ended April 30, 2009												For the Year Ended October 31, 2008
			Shares					Shares							Shares					Shares
			Issued for					Issued		Net Increase					Issued for					Issued		Net Increase
	Shares		Reinvested		Shares			from		(Decrease) of			Shares		Reinvested		Shares			from		(Decrease) of
	Sold		Dividends		Redeemed			Merger		Shares			Sold		Dividends		Redeemed			Merger		Shares
Class A
Shares		208		120		(674	)		—		(346	)		1,270		113		(1,406	)		—		(23	)
Amount	$	986	$	582	$	(3,152	)	$	—	$	(1,584	)	$	11,947	$	1,149	$	(11,945	)	$	—	$	1,151
Class B
Shares		16		20		(104	)		—		(68	)		155		21		(191	)		—		(15	)
Amount	$	73	$	95	$	(454	)	$	—	$	(286	)	$	1,385	$	210	$	(1,589	)	$	—	$	6
Class C
Shares		58		22		(258	)		—		(178	)		269		33		(513	)		—		(211	)
Amount	$	279	$	105	$	(1,129	)	$	—	$	(745	)	$	2,451	$	323	$	(4,163	)	$	—	$	(1,389	)
Class Y
Shares		12		5		(17	)		—		—			107		5		(119	)		—		(7	)
Amount	$	56	$	26	$	(76	)	$	—	$	6		$	1,142	$	51	$	(1,110	)	$	—	$	83

The following reflects the conversion of Class B Shares into Class A Shares (reflected as Class A Shares issued and Class B shares redeemed) for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	Shares		Dollars
For the Six-Month Period Ended April 30, 2009		15	$	69
For the Year Ended October 31, 2008		6	$	53

7.	Line of Credit:
	The Fund is one of several Hartford Funds that participate in a $500 million committed revolving line of credit facility. The facility is to be used for temporary or emergency purposes. Under the arrangement, the Fund is required to own securities having a market value in excess of 300% of the total bank borrowings. The interest rate on borrowings varies depending on the nature of the loan. The facility also requires a fee to be paid based on the amount of the commitment. During the six-month period ended April 30, 2009, the Fund did not have any borrowings under this facility.
8.	Proposed Reorganization:
	At a meeting held on February 4, 2009, the Board of Directors of The Hartford Mutual Funds, Inc. approved the reorganizations (each, a “Reorganization”) of The Hartford Global Communications Fund, The Hartford Global Financial Services Fund and The Hartford Global Technology Fund (each, an “Acquired Fund”) with and into The Hartford Global Equity Fund (the “Acquiring Fund”).
	In connection with the mergers, effective as of the close of business on or about April 30, 2009, all shares of The Hartford Global Communications Fund, The Hartford Global Financial Services Fund and The Hartford Global Technology Fund will no longer be sold to new investors or existing shareholders (except through reinvested dividends) or be eligible for exchanges from other Hartford Mutual Funds.
	The Board of Directors has called for a Special Meeting of Shareholders of each Acquired Fund (the “Meeting”) to be held on or about August 4, 2009, for the purpose of seeking the approval of an Agreement and Plan of Reorganization (“Reorganization Agreement”) with respect to each Acquired Fund. If approved, each Reorganization is expected to occur on or about August 28, 2009.

17

The Hartford Global Communications Fund

Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

	If each Reorganization Agreement is approved by the shareholders of the respective Acquired Fund, the Reorganization Agreement contemplates: (1) the transfer of all of the assets of the Acquired Fund with and into the Acquiring Fund in exchange for shares of the Acquiring Fund having equal net asset value of the Acquired Fund; (2) the assumption by the Acquiring Fund of all of the liabilities of each Acquired Fund; and (3) the distribution of shares of the Acquiring Fund to the shareholders of the Acquired Fund in complete liquidation of the Acquired Fund. Each shareholder of an Acquired Fund would receive shares of the Acquiring Fund equal in value to the shares of the Acquired Fund held by that shareholder as of the closing date of the respective Reorganization.
9.	Industry Classifications:
	Other than the industry classifications “Other Investment Pools and Funds” and “Exchange Traded Funds”, equity industry classifications used in this report are the Global Industry Classification Standard, which was developed by and is the exclusive property and service mark of MSCI, Inc. and Standard & Poor’s.

18

The Hartford Global Communications Fund

Financial Highlights — (Unaudited)

— Selected Per-Share Data — (a)																												— Ratios and Supplemental Data —
																																			Ratio of			Ratio of			Ratio of
																																			Expenses			Expenses			Expenses
																																			to Average			to Average			to Average
																																			Net Assets			Net Assets			Net Assets
																																			Before			After			After
								Net																											Waivers			Waivers			Waivers
								Realized																											and			and			and			Ratio of
								and Un-									Distrib-								Net										Reimburse-			Reimburse-			Reimburse-			Net
			Net			Pay-		realized						Dividends			utions								Increase			Net							ments and			ments and			ments and			Invest-			Port-
	Net Asset		Invest-			ments		Gain						from Net			from			Distri-					(Decrease)			Asset					Net Assets		Including			Including			Excluding			ment			folio
	Value at		ment			from		(Loss) on			Total from			Invest-			Realized			butions		Total			in Net			Value at					at End of		Expenses			Expenses			Expenses			Income to			Turn-
	Beginning		Income			(to)		Invest-			Investment			ment			Capital			from		Distri-			Asset			End of		Total			Period		not Subject			not Subject			not Subject			Average			over
Class	of Period		(Loss)			Affiliate		ments			Operations			Income			Gains			Capital		butions			Value			Period		Return(b)			(000’s)		to Cap(c)			to Cap(c)			to Cap(c)			Net Assets			Rate(d)
For the Six-Month Period Ended April 30, 2009 (Unaudited)
A	$	5.39	$	0.07		$	—	$	(0.30	)	$	(0.23	)	$	(0.27	)	$	—		$	—	$	(0.27	)	$	(0.50	)	$	4.89		(4.21)	%(e)	$	11,525		2.23	%(f)		1.30	%(f)		1.30	%(f)		2.09	%(f)		16	%
B		5.16		0.04			—		(0.28	)		(0.24	)		(0.22	)		—			—		(0.22	)		(0.46	)		4.70		(4.56	) (e)		2,343		3.13	(f)		1.91	(f)		1.91	(f)		1.48	(f)		—
C		5.15		0.04			—		(0.28	)		(0.24	)		(0.19	)		—			—		(0.19	)		(0.43	)		4.72		(4.62	) (e)		3,074		2.93	(f)		2.11	(f)		2.11	(f)		1.26	(f)		—
Y		5.52		0.06			—		(0.29	)		(0.23	)		(0.32	)		—			—		(0.32	)		(0.55	)		4.97		(4.17	) (e)		411		1.37	(f)		1.20	(f)		1.20	(f)		2.12	(f)		—
For the Year Ended October 31, 2008
A		10.99		0.28			—		(5.39	)		(5.11	)		(0.01	)		(0.48	)		—		(0.49	)		(5.60	)		5.39		(48.60	)		14,567		1 .66			1.60			1.60			2.75			66
B		10.61		0.20			—		(5.17	)		(4.97	)		—			(0.48	)		—		(0.48	)		(5.45	)		5.16		(49.00	)		2,920		2.53			2.24			2.24			2.10			—
C		10.59		0.21			—		(5.17	)		(4.96	)		—			(0.48	)		—		(0.48	)		(5.44	)		5.15		(49.00	)		4,274		2.37			2.35			2.35			1.90			—
Y		11.23		0.27			—		(5.45	)		(5.18	)		(0.05	)		(0.48	)		—		(0.53	)		(5.71	)		5.52		(48.34	)		459		1.11			1.11			1.11			2.79			—
For the Year Ended October 31, 2007
A		8.05		0.02			—		3.07			3.09			(0.13	)		(0.02	)		—		(0.15	)		2.94			10.99		39.03	(g)		29,950		1.61			1.60			1.60			0.30			102
B		7.81		(0.04	)		—		2.97			2.93			(0.11	)		(0.02	)		—		(0.13	)		2.80			10.61		38.02	(g)		6,161		2.49			2.30			2.30			(0.40	)		—
C		7.80		(0.01	)		—		2.93			2.92			(0.11	)		(0.02	)		—		(0.13	)		2.79			10.59		37.97	(g)		11,019		2.34			2.34			2.34			(0.47	)		—
Y		8.23		0.10			—		3.10			3.20			(0.18	)		(0.02	)		—		(0.20	)		3.00			11.23		39.58	(g)		1,006		1.11			1.11			1.11			0.88			—
For the Year Ended October 31, 2006
A		7.12		0.15			—		0.88			1.03			(0.10	)		—			—		(0.10	)		0.93			8.05		14.60			17,091		1.89			1.15			1.15			1.83			104
B		6.92		0.09			—		0.87			0.96			(0.07	)		—			—		(0.07	)		0.89			7.81		13.93			4,124		2.87			1.78			1.78			1.18			—
C		6.91		0.06			—		0.88			0.94			(0.05	)		—			—		(0.05	)		0.89			7.80		13.74			5,321		2.74			1.90			1.90			1.01			—
Y		7.27		0.17			—		0.92			1.09			(0.13	)		—			—		(0.13	)		0.96			8.23		15.14			992		1.41			0.75			0.75			2.09			—
For the Year Ended October 31, 2005
A		5.48		0.09			—		1.60			1.69			(0.05	)		—			—		(0.05	)		1.64			7.12		31.01			15,986		2.01			1.51			1.51			1.75			45
B		5.34		0.05			—		1.55			1.60			(0.02	)		—			—		(0.02	)		1.58			6.92		29.92			2,815		3.22			2.26			2.26			1.02			—
C		5.33		0.05			—		1.55			1.60			(0.02	)		—			—		(0.02	)		1.58			6.91		29.97			2,765		2.94			2.25			2.25			1.08			—
Y		5.60		0.02			—		1.73			1.75			(0.08	)		—			—		(0.08	)		1.67			7.27		31.36			638		1.36			1.06			1.06			2.10			—
For the Year Ended October 31, 2004 (h)
A		4.67		0.06			—		0.75			0.81			—			—			—		—			0.81			5.48		17.34			8,929		1.93			1.65			1.65			1.08			85
B		4.58		0.02			—		0.74			0.76			—			—			—		—			0.76			5.34		16.59			1,482		3.32			2.35			2.35			0.37			—
C		4.57		0.02			—		0.74			0.76			—			—			—		—			0.76			5.33		16.63			1,306		2.97			2.35			2.35			0.43			—
Y		4.74		0.09			—		0.77			0.86			—			—			—		—			0.86			5.60		18.14			170		1.30			1.20			1.20			1.69			—

(a)	Information presented relates to a share outstanding throughout the indicated period.
(b)	Assumes initial investment at net asset value at the beginning of each period, reinvestment of all distributions, the complete redemption of the investment at net asset value at the end of each period and no sales charge. Total return would be reduced if sales charges were taken into account.
(c)	Ratios do not include fees paid indirectly (See Expenses in the accompanying Notes to Financial Statements).
(d)	Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between the classes of shares issued.
(e)	Not annualized.
(f)	Annualized.
(g)	Total return without the inclusion of the Payments from (to) Affiliate, as noted on the Statement of Operations, can be found in Expenses in the accompanying Notes to Financial Statements.
(h)	Per share amounts have been calculated using average shares outstanding method.

19

The Hartford Global Communications Fund

Directors and Officers (Unaudited)

The Board of Directors appoints officers who are responsible for the day-to-day operations of the Fund and who execute policies formulated by the Directors. Each director serves until his or her death, resignation, or retirement or until the next annual meeting of shareholders is held or until his or her successor is elected and qualifies.

Directors and officers who are employed by or who have a financial interest in The Hartford are considered “interested” persons of the Fund pursuant to the Investment Company Act of 1940, as amended. Each officer and three of the Fund’s directors, as noted in the chart below, are “interested” persons of the Fund. Each director serves as a director for The Hartford Mutual Funds, Inc., The Hartford Mutual Funds II, Inc., The Hartford Income Shares Fund, Inc., Hartford Series Fund, Inc., and Hartford HLS Series Fund II, Inc., which collectively consist of 100 funds. Correspondence may be sent to directors and officers c/o Hartford Mutual Funds, P.O. Box 2999, Hartford, Connecticut 06104-2999, except that correspondence to Ms. Fagely may be sent to 500 Bielenberg Drive, Woodbury, Minnesota 55125.

The table below sets forth, for each director and officer, his or her name, year of birth, current position with the Fund and date first elected or appointed to The Hartford Mutual Funds, Inc. (“MF”) and The Hartford Mutual Funds II, Inc. (“MF2”), principal occupation, and, for directors, other directorships held. The Fund’s statement of additional information contains further information on the directors and is available free of charge by calling 1-888-843-7824 or writing to Hartford Mutual Funds, P.O. Box 64387, St. Paul, MN 55164-0387.

Information on the aggregate remuneration paid to the directors of the Fund can be found in the Statement of Operations herein. The Fund pays a portion of the Chief Compliance Officer’s compensation, but does not pay salaries or compensation to any of its officers or directors who are employed by The Hartford.

Non-Interested Directors

Lynn S. Birdsong (1946) Director since 2003, Co-Chairman of the Investment Committee

Mr. Birdsong is a private investor. Since 1981, Mr. Birdsong has been a partner in Birdsong Company, an advertising specialty firm. Since 2003, Mr. Birdsong has been an independent director of The Japan Fund. From 2003 to March 2005, Mr. Birdsong was an independent director of the Atlantic Whitehall Funds. From 1979 to 2002, Mr. Birdsong was a managing director of Zurich Scudder Investments, an investment management firm. During his employment with Scudder, Mr. Birdsong was an interested director of The Japan Fund.

Robert M. Gavin, Jr. (1940) Director since 2002 (MF) and 1986 (MF2), Chairman of the Board since 2004

Dr. Gavin is an educational consultant. Prior to September 1, 2001, he was President of Cranbrook Education Community and prior to July 1996, he was President of Macalester College, St. Paul, Minnesota.

Duane E. Hill (1945) Director since 2001 (MF) and 2002 (MF2), Chairman of the Nominating Committee

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

Sandra S. Jaffee (1941) Director since 2005

Ms. Jaffee is Chairman and Chief Executive Officer of Fortent (formerly Searchspace Group), a leading provider of compliance/regulatory technology to financial institutions. Ms. Jaffee served as an Entrepreneur in Residence with Warburg Pincus, a private equity firm, from August 2004 to August 2005. From September 1995 to July 2004, Ms. Jaffee served as Executive Vice President at Citigroup, where she was President and Chief Executive Officer of Citibank’s Global Securities Services (1995-2003).

William P. Johnston (1944) Director since 2005, Chairman of the Compliance Committee

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

20

Phillip O. Peterson (1944) Director since 2002 (MF) and 2000 (MF2), Chairman of the Audit Committee

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

Lemma W. Senbet (1946) Director since 2005

Dr. Senbet is the William E. Mayer Chair Professor of Finance at the University of Maryland, Robert H. Smith School of Business. He was chair of the Finance Department during 1998-2006. Previously he was an endowed professor of finance at the University of Wisconsin-Madison. Also, he was director of the Fortis Funds from March 2000-July 2002. Dr. Senbet served the finance profession in various capacities, including as director of the American Finance Association and President of the Western Finance Association. In 2006, Dr. Senbet was inducted Fellow of Financial Management Association International for his career-long distinguished scholarship and professional service.

Interested Directors and Officers

Thomas M. Marra* (1958) Director since 2002

Mr. Marra has served as President and Chief Operating Officer of The Hartford Financial Services Group, Inc. (“The Hartford”) since 2007. Mr. Marra currently serves as Director of Hartford Life, Inc. (“HL, Inc.”). Mr. Marra served as Chief Operating Officer of Hartford Life Insurance Company, Inc. (“Hartford Life”) (2000-2008), as President of Hartford Life (2002-2008) and as Director of Hartford Life’s Investment Products Division from 1998 to 2000.

* On February 24, 2009, The Hartford and Mr. Marra determined to enter into a mutually agreed separation whereby Mr. Marra will retire, and his role as an executive officer and employee of The Hartford will terminate, effective July 3, 2009. Mr. Marra will resign his position as a Director of the Fund effective June 25, 2009.

Lowndes A. Smith (1939) Director since 2002, Co-Chairman of the Investment Committee

Mr. Smith served as Vice Chairman of The Hartford from February 1997 to January 2002, as President and Chief Executive Officer of Hartford Life, Inc. from February 1997 to January 2002, and as President and Chief Operating Officer of The Hartford Life Insurance Companies from January 1989 to January 2002. Mr. Smith serves as a Director of White Mountains Insurance Group, Ltd., One Beacon Insurance, Symetra Financial and as a Managing Director of Whittington Gray Associates.

John C. Walters* (1962) Director since 2008

Mr. Walters currently serves as Chief Executive Officer, President and Director of HL, Inc. Mr. Walters previously served as President of the U.S. Wealth Management Division of Hartford Life, Inc., as Co-Chief Operating Officer of Hartford Life Insurance Company (2007-2008) and as Executive Vice President and Director of its Investment Products Division (2000-2008). Mr. Walters also serves as Chairman of the Board, Chief Executive Officer, President and Director of Hartford Life Insurance Company and as Executive Vice President of The Hartford. In addition, Mr. Walters is Manager of HL Investment Advisors, LLC (“HL Advisors”).

* Mr. Walters previously served as President and Chief Executive Officer of the Fund (2007 — 2009).

Other Officers

Robert M. Arena, Jr. (1968) President and Chief Executive Officer since 2009 (served as Vice President of the Fund (2006 — 2009))

Mr. Arena serves as Executive Vice President of Hartford Life Insurance Company, (“Hartford Life”). Additionally, Mr. Arena is Director and Senior Vice President of Hartford Administrative Services Company, (“HASCO”), Manager, Chief Executive Officer and President of Hartford Investment Financial Services, LLC (“HIFSCO”) and HL Advisors. Prior to joining The Hartford in 2004, he was Senior Vice President in charge of Product Management for American Skandia/Prudential in the individual annuities division. Mr. Arena joined American Skandia in 1996.

Tamara L. Fagely (1958) Vice President, Treasurer and Controller since 2002 (MF) 1993 (MF2)

Ms. Fagely has been a Vice President of HASCO since 1998 and Chief Financial Officer since 2006. Currently Ms. Fagely is a Vice President of Hartford Life. She served as Assistant Vice President of Hartford Life from December 2001 through March 2005. In addition, Ms. Fagely is Controller and Chief Financial Officer of HIFSCO.

Brian Ferrell (1962) AML Compliance Officer since 2008

Mr. Ferrell has served as Assistant Vice President and AML Compliance Officer for The Hartford since 2006 and as AML Compliance Officer for HASCO and Hartford Investor Services Company, LLC (“HISC”) since 2008. Prior to joining The Hartford in 2006, Mr. Ferrell held various positions at the U.S. Department of the Treasury, (the “Treasury”), from 2001 to 2006 where he served as Chief Counsel for the Treasury’s Financial Crimes Enforcement Network, (“FinCEN”) from 2005 — 2006.

21

The Hartford Global Communications Fund

Directors and Officers (Unaudited) — (continued)

Thomas D. Jones, III (1965) Vice President and Chief Compliance Officer since 2006

Mr. Jones serves as Chief Compliance Officer for the Hartford Mutual Funds and Vice President and Director of Securities Compliance for The Hartford. He is also Vice President of HIFSCO, HL Advisors, and Hartford Life Insurance Company. Mr. Jones joined The Hartford in 2006 from SEI Investments, where he served as Chief Compliance Officer for its mutual funds and investment advisers. Prior to joining SEI, Mr. Jones was First Vice President and Compliance Director for Merrill Lynch Investment Managers (Americas) (“MLIM”), where he worked from 1992-2004. At MLIM, Mr. Jones was responsible for the compliance oversight of various investment products, including mutual funds, wrap accounts, institutional accounts and alternative investments.

Edward P. Macdonald (1967) Vice President, Secretary and Chief Legal Officer since 2005

Mr. Macdonald serves as Assistant General Counsel and Assistant Vice President of The Hartford and Chief Legal Officer and Vice President of HIFSCO. He also serves as Vice President and Secretary of HASCO, Assistant Vice President of Hartford Life, and Chief Legal Officer, Secretary and Vice President of HL Advisors. Prior to joining The Hartford in 2005, Mr. Macdonald was Chief Counsel, Investment Management for Prudential Financial (formerly American Skandia Investment Services, Inc.). He joined Prudential in April 1999.

Vernon J. Meyer (1964) Vice President since 2006

Mr. Meyer serves as Senior Vice President of Hartford Life and as Director of its Investment Advisory Group in the Individual Markets Group segment. He also serves as Senior Vice President of HIFSCO and HL Advisors. Prior to joining The Hartford in 2004, Mr. Meyer was with MassMutual which he joined in 1987.

D. Keith Sloane (1960) Vice President since 2009

Mr. Sloane is a Senior Vice President of Hartford Life where he serves as Director of mutual fund product management for The Hartford’s mutual funds and 529 college savings businesses. Additionally, Mr. Sloane currently serves as Senior Vice President of HIFSCO, HL Advisors, and HASCO. Prior to joining The Hartford in 2007, Mr. Sloane was Director of product marketing and led the mutual fund business for Wachovia Securities (“Wachovia”) in their investment products group. Mr. Sloane joined Wachovia in 1995.

Jane Wolak (1961) Vice President since 2009

Ms. Wolak currently serves as Vice President of Hartford Life. Ms. Wolak joined Hartford Life as Vice President, Retail Product Services in May 2007. She is also Vice President of HASCO. Previously, Ms. Wolak was with Sun Life Financial where she held the position of Vice President, Service Center Operations from 2001 – 2007.

HOW TO OBTAIN A COPY OF THE FUND’S PROXY VOTING POLICIES AND VOTING RECORDS

A description of the policies and procedures that the Fund uses to determine how to vote proxies relating to portfolio securities and a record of how the Fund voted any proxies for the twelve-month period ended June 30, 2008 is available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov.

QUARTERLY PORTFOLIO HOLDINGS INFORMATION

The Fund files a complete schedule of portfolio holdings with the Commission for the first and third quarters of each fiscal year on Form N-Q. The Fund’s Forms are available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov. The Form N-Q may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330.

22

The Hartford Global Communications Fund

Expense Example (Unaudited)

Your Fund’s Expenses

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments and contingent deferred sales charges (CDSC) (2) ongoing costs including management fees; distribution fees; and other fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the period of October 31, 2008 through April 30, 2009.

Actual Expenses

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

Hypothetical Example for Comparison Purposes

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

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads) and CDSC. Therefore, the second line 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 are equal to the Fund’s annualized expense ratios multiplied by average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

	Actual return						Hypothetical (5% return before expenses)
					Expenses paid						Expenses paid					Days in
					during the period						during the period					the		Days
	Beginning		Ending Account		October 31, 2008		Beginning		Ending Account		October 31,		Annualized			current		in the
	Account Value		Value		through		Account Value		Value		2008 through		expense			1/2		full
	October 31, 2008		April 30, 2009		April 30, 2009		October 31, 2008		April 30, 2009		April 30, 2009		ratio			year		year
Class A	$	1,000.00	$	957.88	$	6.31	$	1,000.00	$	1,018.34	$	6.50		1.30	%		181		365
Class B	$	1,000.00	$	954.43	$	9.25	$	1,000.00	$	1,015.32	$	9.54		1.91			181		365
Class C	$	1,000.00	$	953.78	$	10.22	$	1,000.00	$	1,014.33	$	10.53		2.11			181		365
Class Y	$	1,000.00	$	958.27	$	5.82	$	1,000.00	$	1,018.84	$	6.00		1.20			181		365

23

The Hartford Global Enhanced Dividend Fund

Table of Contents

Manager Discussions (Unaudited)	2
Financial Statements
Schedule of Investments at April 30, 2009 (Unaudited)	5
Statement of Assets and Liabilities at April 30, 2009 (Unaudited)	11
Statement of Operations for the Six Month Period Ended April 30, 2009 (Unaudited)	12
Statement of Changes in Net Assets for the Six Month Period Ended April 30, 2009 (Unaudited) and the Year Ended October 31, 2008	13
Notes to Financial Statements (Unaudited)	14
Financial Highlights (Unaudited)	24
Directors and Officers (Unaudited)	25
How to Obtain a Copy of the Fund’s Proxy Voting Policies and Proxy Voting Records (Unaudited)	27
Quarterly Portfolio Holdings Information (Unaudited)	27
Expense Example (Unaudited)	28

The Hartford Global Enhanced Dividend Fund
(subadvised by Hartford Investment Management Company)

Performance Overview(1) 11/28/07 — 4/30/09
Growth of a $10,000 investment in Class A which includes Sales Charge

MSCI World Value Index is a broad-based, unmanaged, market capitalization weighted, total return index that measures the performance of both developed and emerging stock markets, excluding the U.S. The index is calculated to exclude companies and share classes which cannot be freely purchased by foreigners.

You cannot invest directly in an index.

The value of shares will fluctuate so that, when redeemed, shares may be worth more or less than their original cost. The chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.

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

Investment objective — Seeks a high level of current income. Capital appreciation is a secondary objective.

Average Annual Total Returns(2,3) (as of 4/30/09)

	Inception		1			Since
	Date		Year			Inception
Global Enhanced Dvd A#		11/28/07		-39.81	%		-32.22	%
Global Enhanced Dvd A##		11/28/07		-43.12	%		-34.87	%
Global Enhanced Dvd B#		11/28/07		-40.19	%		-32.66	%
Global Enhanced Dvd B##		11/28/07		-42.97	%		-34.41	%
Global Enhanced Dvd C#		11/28/07		-40.19	%		-32.66	%
Global Enhanced Dvd C##		11/28/07		-40.75	%		-32.66	%
Global Enhanced Dvd I#		11/28/07		-39.54	%		-31.97	%
Global Enhanced Dvd R3#		11/28/07		-40.02	%		-32.49	%
Global Enhanced Dvd R4#		11/28/07		-39.90	%		-32.31	%
Global Enhanced Dvd R5#		11/28/07		-39.72	%		-32.13	%
Global Enhanced Dvd Y#		11/28/07		-39.54	%		-31.97	%

#	Without sales charge
##	With sales charge

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)	Growth of a $10,000 investment in Classes B, C, I, R3, R4, R5 and Y shares will vary from results seen above due to differences in the expenses charged to these classes.
(2)	The initial investment in Class A shares reflects the maximum sales charge and Classes B and C reflect CDSC.
(3)	Total returns presented above were calculated using the Fund’s net asset value available to shareholders for sale or redemption of Fund shares on April 30, 2009, which excludes investment transactions as of this date.

Portfolio Manager
Paul Bukowski
Vice President

How did the Fund perform?

The Class A shares of The Hartford Global Enhanced Dividend Fund returned -14.85%, before sales charge, for the six-month period ended April 30, 2009, underperforming its benchmark, the MSCI World Value Index, which returned -6.41% for the same period.

Why did the Fund perform this way?

During the period, the Fund’s relative (i.e. performance of the Fund as measured against the benchmark) underperformance was driven by security selection in the Technology, Telecommunications, Consumer Discretionary and Energy sectors. Among the largest detractors to returns were an overweight (i.e. the Fund’s sector position was greater than the benchmark position) in ING Groep NV (Financial) and underweight (i.e. the Fund’s sector position was less than the benchmark position) to Sprint Nextel (Telecom). ING’s stock has fallen with worries over the company’s Variable Annuity book of business and losses in ING’s investment portfolio. Sprint’s extensive cost cutting measures and strong customer gains in its mobile unit helped the company report smaller losses than expected by Wall Street analysts.

2

This underperformance was offset by favorable security selection in the Health Care sector. From a country perspective, stock selection within the United States and Canada detracted from performance while an overweight to Brazilian stocks added to performance.

Among the largest contributors to returns relative to the benchmark were under weights in Citigroup and HSBC Holdings (Financial). Both stocks have fallen significantly with worries about the companies’ viability in the current economic landscape.

What is the outlook?

The impressive rally that began in March raises the question: has the market bottomed? It is our belief that the long-term, sustainable growth of the market comes from fundamentally sound and growing earnings. Looking first at the characteristics of the companies that led this rally and then at the aggregate earnings growth of the market, leads us to believe that the current market rally cannot be sustained and that the Fund’s relative performance will improve as the market returns to working its way through its traditional, fundamentally-based, long-term investment cycle.

In March, stocks with the lowest quality ratings, the lowest profitability, and the highest debt-to-equity ratios led the rally; and we do not believe that type of leadership is sustainable. We look for companies generating good cash flows with strong underlying fundamentals to lead us out of this recession, the same type of companies in which we invest: high dividend paying, profitable, and attractively priced with sound management discipline.

Furthermore, the earnings picture is cloudy. First, earnings are falling at near record-breaking rates and all indications are that they will continue to fall. Second, the quality and reliability of the earnings reported is lower than historical standards as the gap between pro forma (“street”) earnings and GAAP (Generally Accepted Accounting Principles) earnings rose in the past several months. Third, there is little clarity in future earnings prospects as the disparity among analyst estimates for future earnings remains at elevated levels. Historically, such consensus building was a precondition to the final, sustained recovery from bear markets associated with recessions.

The overall market environment looks very challenging. In the short term, investors should expect continued market volatility on both an absolute (i.e. total return) and relative basis. However, we believe patient investors willing to endure this short-term volatility will be rewarded in the long run from high quality, fundamentally sound companies which are providing their investors an attractive dividend — the stocks that we favor.

Diversification by Industry — Long Positions
as of April 30, 2009

	Percentage of
Industry	Net Assets
Automobiles & Components		2.7	%
Banks		10.3
Basic Materials		0.6
Capital Goods		10.8
Commercial & Professional Services		2.5
Consumer Durables & Apparel		3.7
Consumer Services		3.0
Diversified Financials		5.5
Energy		21.6
Food & Staples Retailing		1.2
Food, Beverage & Tobacco		6.5
Health Care Equipment & Services		1.5
Household & Personal Products		0.9
Insurance		6.9
Materials		5.8
Media		1.9
Pharmaceuticals, Biotechnology & Life Sciences		10.0
Real Estate		4.6
Retailing		2.1
Semiconductors & Semiconductor Equipment		2.3
Software & Services		3.4
Technology Hardware & Equipment		7.2
Telecommunication Services		11.6
Transportation		1.8
Utilities		10.4
Short-Term Investments		2.4
Total Long Positions		141.2
Short Positions		(40.8	)
Other Assets and Liabilities		(0.4	)
Total		100.0	%

Diversification by Industry — Securities Sold Short
as of April 30, 2009

	Percentage of
Industry	Net Assets
Automobiles & Components		0.1	%
Banks		0.4
Capital Goods		3.2
Commercial & Professional Services		1.3
Consumer Durables & Apparel		1.3
Consumer Services		1.7
Consumer Staples		0.2
Diversified Financials		0.4
Energy		5.1
Food & Staples Retailing		0.5
Food, Beverage & Tobacco		1.9
Health Care Equipment & Services		0.6
Insurance		0.2
Materials		2.0
Media		1.1
Pharmaceuticals, Biotechnology & Life Sciences		2.5
Real Estate		1.0
Retailing		1.0
Semiconductors & Semiconductor Equipment		1.7
Software & Services		3.0
Technology Hardware & Equipment		3.9
Telecommunication Services		3.4
Transportation		0.6
Utilities		3.7
Total		40.8	%

3

Diversification by Country — Long Positions
as of April 30, 2009

	Percentage of
Country	Net Assets
Australia		1.0	%
Brazil		0.3
Canada		5.8
Chile		1.1
China		1.2
Finland		1.1
France		6.0
Germany		3.1
Greece		0.2
Hong Kong		0.9
India		0.6
Italy		1.5
Japan		11.0
Luxembourg		0.5
Mexico		0.5
Netherlands		1.2
New Zealand		0.2
Norway		0.5
Philippines		0.4
Portugal		0.2
South Africa		0.6
South Korea		0.6
Spain		1.3
Sweden		1.7
Switzerland		1.6
United Kingdom		10.0
United States		85.7
Short-Term Investments		2.4
Total Long Positions		141.2
Short Positions		(40.8	)
Other Assets and Liabilities		(0.4	)
Total		100.0	%

Diversification by Country — Securities Sold Short
as of April 30, 2009

	Percentage of
Country	Net Assets
Canada		1.5	%
China		0.6
India		0.5
Ireland		0.5
Japan		0.1
Mexico		0.5
United States		37.1
Total		40.8	%

4

The Hartford Global Enhanced Dividend Fund

Schedule of Investments
April 30, 2009 (Unaudited)
(000’s Omitted)

Shares or Principal Amount			Market Value ╪
LONG POSITIONS — 138.8%
COMMON STOCKS — 138.8%
		Automobiles & Components — 2.7%
	2	Honda Motor Co., Ltd. ADR ‡	$	61
	4	Nissan Motor Co., Ltd. ADR ‡		43
	1	Toyota Motor Corp ADR ‡		51
				155
		Banks — 10.3%
	1	Ameris Bancorp ‡		4
	5	Banco Bilboa Vizcaya — SP ADR ‡		51
	—	Banco de Chile ADR ‡		17
	—	Banco Santander Chili S.A. ADR ‡		17
	—	Bank of Hawaii Corp. ‡		12
	1	Bank of Montreal ‡		31
	1	BB&T Corp. ‡		13
	1	Canadian Imperial Bank of Commerce ‡		25
	—	Cullen/Frost Bankers, Inc. ‡		5
	1	First Niagara Financial Group, Inc. ‡		11
	—	FirstMerit Corp. ‡		9
	—	Hancock Holding Co. ‡		7
	1	Hudson City Bancorp, Inc.		8
	—	Iberiabank Corp. ‡		5
	33	Mitsubishi UFJ Financial Group, Inc. ADR ‡		177
	5	Mizuho Financial Group, Inc. ADR ‡		21
	2	National Bank of Greece S.A. ADR ‡		9
	1	Royal Bank of Canada ‡		47
	1	Sterling Bancshares, Inc. ‡		5
	—	SunTrust Banks, Inc. ‡		3
	1	Toronto-Dominion Bank ADR ‡		53
	—	Trustmark Corp. ‡		6
	—	US Bancorp		2
	1	Westpac Banking Corp. ADR ‡		57
				595
		Basic Materials — 0.6%
	2	RPM International, Inc. ‡		33
		Capital Goods — 10.8%
	1	3M Co. ‡		30
	4	Aircastle Ltd. ‡		24
	1	Boeing Co. ‡		38
	—	Caterpillar, Inc. ‡		6
	—	Crane Co. ‡		8
	1	Eaton Corp.		29
	1	Emerson Electric Co. ‡		51
	—	Empresa Brasileira de Aeronautica S.A. ADR ‡		7
	2	General Electric Co. ‡		23
	—	Honeywell International, Inc. ‡		14
	1	Hubbell, Inc. Class B ‡		20
	—	Illinois Tool Works, Inc.		5
	1	Ingersoll-Rand Co. Class A ‡		20
	3	Insteel Industries, Inc. ‡		20
	6	Masco Corp. ‡		52
	—	Northrop Grumman Corp. ‡		18
	3	Oshkosh Corp. ‡		27
	3	PACCAR, Inc. ‡		100
	1	Rockwell Automation, Inc. ‡		35
	—	Siemens AG ADR ‡		18
	1	Textron, Inc. ‡		16
	7	Tomkins plc ADR ‡		66
				627
		Commercial & Professional Services — 2.5%
	1	Avery Dennison Corp. ‡		25
	1	Corporate Executive Board Co. ‡		21
	2	Pitney Bowes, Inc. ‡		40
	2	R.R. Donnelley & Sons Co. ‡		21
	2	Steelcase, Inc. ‡		9
	1	Waste Management, Inc. ‡		28
				144
		Consumer Durables & Apparel — 3.7%
	5	Eastman Kodak Co. ‡		15
	4	Jones Apparel Group, Inc. ‡		36
	3	Lennar Corp. ‡		25
	2	Mattel, Inc. ‡		26
	—	National Presto Industries, Inc. ‡		6
	2	Panasonic Corp. ‡		24
	—	Polaris Industries, Inc. ‡		8
	1	Sony Corp. ADR ‡		33
	—	Stanley Works ‡		14
	—	V.F. Corp. ‡		19
				206
		Consumer Services — 3.0%
	2	International Game Technology ‡		25
	2	McDonald’s Corp. ‡		129
	1	Starwood Hotels & Resorts ‡		18
				172
		Diversified Financials — 5.5%
	—	Ameriprise Financial, Inc. ‡		12
	2	Bank of America Corp. ‡		21
	1	Bank of New York Mellon Corp. ‡		15
	—	BlackRock, Inc. ‡		13
	3	Compass Diversified Holdings ‡		29
	—	Eaton Vance Corp. ‡		13
	—	Franklin Resources, Inc. ‡		6
	2	Morgan Stanley ‡		43
	2	NYSE Euronext ‡		53
	2	Orix Corp. ADR ‡		51
	1	Prospect Capital Corp. ‡		5
	2	SEI Investments Co. ‡		22
	1	Waddell and Reed Financial, Inc. Class A ‡		31
				314
		Energy — 21.6%
	4	BP plc ADR ‡		184
	1	Chevron Corp. ‡		66
	—	CNOOC Ltd. ADR ‡		47
	1	ConocoPhillips Holding Co. ‡		23
	3	DHT Maritime, Inc. ‡		14
	1	Diamond Offshore Drilling, Inc. ‡		64
	—	EnCana Corp. ADR ‡		16
	1	Enerplus Resources Fund ‡		14
	1	Eni S.p.A. ADR		32
	1	Exxon Mobil Corp. ‡		73
	—	Frontline Ltd. ‡		6
	3	General Maritime Corp. ‡		32
	—	Knightsbridge Tankers Ltd. ADR ‡		5
	2	Marathon Oil Corp.		57
	1	Patterson-UTI Energy, Inc. ‡		14
	4	Pengrowth Energy Trust ‡		30
	—	PetroChina Co. Ltd. ADR ‡		30
	6	Precision Drilling Trust ‡		26
	1	Repsol-YPF S.A. ADR ‡		23	��

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

5

The Hartford Global Enhanced Dividend Fund

Schedule of Investments — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

Shares or Principal Amount			Market Value ╪
LONG POSITIONS — 138.8% — (continued)
COMMON STOCKS — 138.8% — (continued)
		Energy — 21.6% — (continued)
	2	Royal Dutch Shell plc ADR ‡	$	107
	1	Sasol Ltd. ADR ‡		32
	4	Ship Finance International, Ltd. ‡		36
	2	Spectra Energy Corp. ‡		30
	1	StatoilHydro ASA-ADR ‡		25
	2	Sunoco, Inc.		55
	4	Total S.A. ADR ‡		192
	3	Vaalco Energy, Inc. •‡		14
				1,247
		Food & Staples Retailing — 1.2%
	2	Supervalu, Inc. ‡		40
	1	Sysco Corp. ‡		30
				70
		Food, Beverage & Tobacco — 6.5%
	1	Coca-Cola Co. ‡		43
	—	Companhia de Bebidas das Americas ADR ‡		15
	1	H.J. Heinz Co. ‡		24
	2	Kraft Foods, Inc. ‡		46
	1	Lorillard, Inc.		39
	—	PepsiCo, Inc. ‡		14
	2	Philip Morris International, Inc. ‡		65
	2	Reynolds American, Inc. ‡		63
	3	Unilever N.V. NY Shares ADR ‡		68
				377
		Health Care Equipment & Services — 1.5%
	5	Brookdale Senior Living, Inc. ‡		52
	1	Computer Programs and Systems, Inc. ‡		19
	—	Fresenius Medical Care AG ADR		10
	—	Landauer, Inc. ‡		6
				87
		Household & Personal Products — 0.9%
	—	Clorox Co. ‡		15
	1	Kimberly-Clark Corp. ‡		39
				54
		Insurance — 6.9%
	—	Aflac, Inc. ‡		10
	11	Allianz SE ADR ‡		96
	2	Allstate Corp. ‡		35
	1	Arthur J. Gallagher & Co. ‡		27
	3	Axa ADR ‡		46
	—	Axis Capital Holdings Ltd. ‡		8
	1	Brown & Brown, Inc. ‡		17
	1	Chubb Corp.		27
	1	Cincinnati Financial Corp. ‡		19
	—	Harleysville Group, Inc. ‡		6
	2	Old Republic International Corp. ‡		15
	3	Prudential Financial, Inc. ‡		33
	1	Sun Life Financial ‡		23
	—	Travelers Cos., Inc. ‡		12
	1	Unitrin, Inc. ‡		23
				397
		Materials — 5.8%
	1	ArcelorMittal ADR ‡		29
	1	Cemex S.A. de C.V. ADR •‡		7
	1	Compass Minerals Group, Inc.		33
	5	Dow Chemical Co. ‡		79
	1	E.I. DuPont de Nemours & Co. ‡		24
	—	Lubrizol Corp. ‡		20
	1	MeadWestvaco Corp. ‡		14
	—	Nucor Corp. ‡		18
	1	Olin Corp. ‡		15
	2	Southern Copper Corp. ‡		37
	1	Syngenta AG ADR ‡		28
	—	Weyerhaeuser Co. ‡		11
	1	Worthington Industries, Inc. ‡		21
				336
		Media — 1.9%
	1	A.H. Belo Corp. Class A ‡		3
	6	CBS Corp. Class B ‡		41
	1	McGraw-Hill Cos., Inc.		17
	—	Meredith Corp. ‡		9
	1	Sham Communications, Inc. ‡		21
	—	Time Warner Cable, Inc. ‡		5
	1	Time Warner, Inc. ‡		13
				109
		Pharmaceuticals, Biotechnology & Life Sciences — 10.0%
	5	Biovail Corp. ‡		51
	4	Bristol-Myers Squibb Co. ‡		75
	2	Eli Lilly & Co. ‡		70
	—	Johnson & Johnson ‡		22
	3	Merck & Co., Inc. ‡		66
	2	Novartis AG ADR ‡		61
	11	Pfizer, Inc. ‡		149
	3	Sanofi-Aventis S.A. ADR ‡		84
				578
		Real Estate — 4.6%
	2	Annaly Capital Management, Inc. ‡		29
	1	Anworth Mortgage Asset Corp. ‡		7
	3	Apartment Investment & Management Co. ‡		22
	2	Duke Realty, Inc. ‡		16
	—	Entertainment Properties Trust ‡		6
	—	HCP, Inc. ‡		6
	—	Health Care, Inc. ‡		12
	1	Hospitality Properties Trust ‡		14
	5	HRPT Properties Trust ‡		22
	—	Inland Real Estate Corp. ‡		3
	4	Lexington Realty Trust ‡		13
	2	Medical Properties Trust, Inc. ‡		10
	1	MFA Mortgage Investments, Inc. ‡		7
	1	Nationwide Health Properties, Inc. ‡		31
	3	Northstar Realty Finance Corp. ‡		9
	3	Resource Capital Corp. ‡		9
	5	UDR, Inc. ‡		50
				266
		Retailing — 2.1%
	1	Asbury Automotive Group ‡		11
	—	Barnes & Noble, Inc. ‡		8
	—	Genuine Parts Co. ‡		15
	—	Home Depot, Inc. ‡		7
	—	J.C. Penney Co., Inc. ‡		9
	1	Limited Brands, Inc. ‡		15
	1	Macy’s, Inc. ‡		18
	3	OfficeMax, Inc. ‡		25
	1	Williams-Sonoma, Inc. ‡		11
				119

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

6

Shares or Principal Amount					Market Value ╪
LONG POSITIONS — 138.8% — (continued)
COMMON STOCKS — 138.8% — (continued)
		Semiconductors & Semiconductor Equipment — 2.3%
	1	Analog Devices, Inc. ‡			$	14
	3	Intel Corp. ‡				52
	2	Intersil Corp.				28
	1	Linear Technology Corp. ‡				12
	1	Microchip Technology, Inc. ‡				29
						135
		Software & Services — 3.4%
	—	Automatic Data Processing, Inc. ‡				14
	2	infoGROUP, Inc. ‡				7
	1	Infosys Technologies Ltd. ADR ‡				32
	2	Paychex, Inc. ‡				60
	1	S.p.A. ADR ‡				33
	8	United Online, Inc. ‡				44
						190
		Technology Hardware & Equipment — 7.2%
	3	Canon, Inc. ADR ‡				102
	1	Fujifilm Holdings Corp. ‡				16
	—	Hitachi Ltd. ‡				16
	2	Jabil Circuit, Inc. ‡				19
	1	Molex, Inc. ‡				19
	4	Nokia Corp. ‡				62
	10	Seagate Technology ‡				83
	12	Telefonaktiebolaget LM Ericsson ADR ‡				101
						418
		Telecommunication Services — 11.6%
	2	Alaska Communication Systems Holdings, Inc. ‡				12
	2	AT&T, Inc. ‡				54
	4	BT Group plc ADR ‡				61
	1	CenturyTel, Inc. ‡				26
	1	China Telecom Corp. Ltd. ADR •‡				41
	2	Deutsche Telekom AG ADR ‡				20
	1	Embarq Corp. ‡				53
	1	France Telecom S.A. ADR ‡				27
	7	Frontier Communications Corp. ‡				46
	1	Hutchinson Telecom Internation Ltd. ADR ‡				6
	2	Nippon Telegraph & Telephone Corp. ADR ‡				41
	1	Philippine Long Distance Telephone Co. ADR ‡				23
	1	Portugal Telecom S.A. ADR ‡				10
	2	SK Telecom Co., Ltd. ADR ‡				33
	1	Telecom Corp. of New Zealand Ltd. ADR ‡				11
	4	Telecom Italia S.p.A. ADR ‡				53
	1	Verizon Communications, Inc. ‡				23
	6	Vodafone Group plc ADR ‡				114
	2	Windstream Corp. ‡				14
						668
		Transportation — 1.8%
	2	Eagle Bulk Shipping Inc. ‡				10
	1	Genco Shipping & Trading Ltd. ‡				26
	1	Grupo Aeroportuario del Pacifico SAB de CV ADR ‡				23
	2	Horizon Lines, Inc. Class A ‡				10
	3	Lan Airlines S.A. ADR ‡				27
	1	Pacer International, Inc. ‡				5
						101
		Utilities — 10.4%
	1	AGL Resources, Inc. ‡				31
	1	Allete, Inc.				20
	2	Ameren Corp. ‡				35
	1	American Electric Power Co., Inc. ‡				27
	3	CenterPoint Energy, Inc. ‡				32
	—	CIA Saneamento Basico De Estado de Sao Paulo ‡				8
	1	Consolidated Edison, Inc. ‡				45
	1	DTE Energy Co. ‡				29
	—	National Grid plc ‡				11
	4	NiSource, Inc. ‡				42
	1	OGE Energy Corp. ‡				33
	1	Oneok, Inc. ‡				14
	2	Pepco Holdings, Inc. ‡				21
	2	Pinnacle West Capital Corp. ‡				57
	1	Progress Energy, Inc. ‡				42
	1	SCANA Corp. ‡				27
	3	Southern Co. ‡				85
	2	TECO Energy, Inc. ‡				17
	1	Vectren Corp. ‡				21
						597
		Total common stocks (cost $10,686)			$	7,995
		Total long-term investments (cost $10,686)			$	7,995
SHORT-TERM INVESTMENTS — 2.4%
		Investment Pools and Funds — 2.4%
	136	State Street Bank U.S. Government Money Market Fund			$	136
		Total short-term investments (cost $136)			$	136
		Total long positions (cost $10,822)▲	141.2	%	$	8,131
		Securities sold short (proceeds $2,652)▲	(40.8	)%		(2,351	)
		Other assets and liabilities	(0.4	)%		(21	)
		Total net assets	100.0	%	$	5,759

Shares			Market Value ╪
SECURITIES SOLD SHORT — 40.8%
COMMON STOCK — 40.8%
		Automobiles & Components — 0.1%
	1	Dana Holding Corp.•	$	1
	1	Tenneco Automotive, Inc.•		4
				5
		Banks — 0.4%
	1	Signature Bank•		14
	1	Texas Capital Bankshares, Inc.•		8
				22
		Capital Goods — 3.2%
	—	Astec Industries, Inc.•		6
	1	BE Aerospace, Inc.•		7
	1	Colfax Corp.•		6
	—	Enpro Industries, Inc.•		5

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

7

The Hartford Global Enhanced Dividend Fund

Schedule of Investments — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

Shares			Market Value ╪
SECURITIES SOLD SHORT — 40.8% — (continued)
COMMON STOCK — 40.8% — (continued)
		Capital Goods — 3.2% — (continued)
	—	ESCO Technologies, Inc.•	$	14
	1	Flow International Corp.•		2
	1	General Cable Corp.•		14
	1	Hexcel Corp.•		7
	8	JA Solar Holdings Co. Ltd. ADR•		26
	—	Kadant, Inc.•		4
	2	McDermott International, Inc.•		37
	—	Mitsui & Co., Ltd. ADR		8
	—	Moog, Inc. Class A•		6
	—	RBS Bearings, Inc.•		6
	1	Spirit Aerosystems Holdings, Inc.•		6
	1	Tecumseh Products Co. Class A •		7
	1	Titan International, Inc.		7
	—	Titan Machinery, Inc.•		5
	—	TransDigm Group, Inc.•		8
	1	Trimas Corp.•		3
				184
		Commercial & Professional Services — 1.3%
	3	Cenveo, Inc.•		14
	1	Consolidated Graphics, Inc.•		15
	1	Covanta Holding Corp.•		9
	1	Navigant Consulting, Inc.•		11
	2	Spherion Corp.•		8
	—	Stericycle, Inc.•		10
	—	Waste Connections, Inc.•		5
				72
		Consumer Durables & Apparel — 1.3%
	—	Coach, Inc.•		10
	1	Gildan Activewear, Inc.•		7
	1	Hanesbrands, Inc.•		17
	—	Jakks Pacific, Inc.•		6
	1	Mohawk Industries, Inc.•		26
	—	Universal Electronics, Inc.•		8
				74
		Consumer Services — 1.7%
	1	Cheesecake Factory, Inc.•		17
	2	Gaylord Entertainment Co.•		23
	1	Scientific Games Corp. Class A•		25
	1	Sonic Corp.•		8
	1	Starbucks Corp.•		10
	1	Texas Roadhouse, Inc.•		12
				95
		Consumer Staples — 0.2%
	—	Seaboard Corp.		12
		Diversified Financials — 0.4%
	—	Nasdaq OMX Group, Inc.•		6
	—	PHH Corp.•		6
	—	Riskmetrics Group, Inc.•		8
				20
		Energy — 5.1%
	—	Bill Barrett Corp.•		8
	—	Bristow Group, Inc.•		4
	1	Bronco Drilling Co., Inc.•		6
	—	Carrizo Oil & Gas, Inc.•		4
	1	CNX Gas Corp.•		15
	1	Continental Resources, Inc.•		20
	3	Exco Resources, Inc.•		33
	1	Forest Oil Corp.•		19
	—	Goodrich Petroleum Corp.•		7
	4	Hercules Offshore, Inc.•		13
	—	Newfield Exploration Co.•		10
	4	Parker Drilling Co.•		12
	1	Petrohawk Energy Corp.•		27
	1	Quicksilver Resources, Inc.•		8
	2	Sandridge Energy, Inc.•		14
	1	Southwestern Energy Co.•		21
	1	Suncor Energy, Inc. ADR		29
	1	TETRA Technologies, Inc.•		6
	—	Ultra Petroleum Corp.•		19
	1	Williams Cos., Inc.		20
				295
		Food & Staples Retailing — 0.5%
	1	United Natural Foods, Inc.•		31
		Food, Beverage & Tobacco — 1.9%
	1	Chiquita Brands International, Inc.•		8
	1	Dr Pepper Snapple Group•		31
	1	Hain Celestial Group, Inc.•		19
	—	Hansen National Corp.•		10
	2	Omega Protein Corp.•		6
	2	Smart Balance, Inc.•		15
	2	Smithfield Foods, Inc.•		21
				110
		Health Care Equipment & Services — 0.6%
	1	Boston Scientific Corp.•		8
	1	Emeritus Corp.•		12
	—	Hologic, Inc.•		7
	—	NuVasive, Inc.•		7
				34
		Insurance — 0.2%
	—	Argo Group International Holdings Ltd.•		5
	3	Conseco, Inc.•		4
	1	PMA Capital Corp. Class A•		5
				14
		Materials — 2.0%
	—	Agnico Eagle Mines Ltd.		10
	1	Buckeye Technologies, Inc.•		7
	—	Haynes International, Inc.•		11
	2	Headwaters, Inc.•		5
	1	Intrepid Potash, Inc.•		30
	1	Rockwood Holdings, Inc.•		7
	1	RTI International Metals, Inc.•		12
	16	Smurfit-Stone Container Corp.•		1
	4	Sterlite Industries Ltd.		32
				115
		Media — 1.1%
	2	CTC Media, Inc.•		16
	1	DISH Network Corp.•		15
	2	Lakes Entertainment, Inc.•		6
	2	Liberty Media Corp. — Capital•		24
	—	Scholastic Corp.		2
				63

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

8

Shares					Market Value ╪
SECURITIES SOLD SHORT — 40.8% — (continued)
COMMON STOCK — 40.8% — (continued)
		Pharmaceuticals, Biotechnology & Life Sciences — 2.5%
	1	Auxilium Pharmaceuticals, Inc.•			$	21
	2	Caraco Pharmaceutical Laboratories Ltd.•				7
	3	Cypress Bioscience•				19
	5	DURECT Corp.•				11
	5	Elan Corp. plc ADR•				29
	1	Noven Pharmaceuticals, Inc.•				12
	1	Questcor Pharmaceuticals•				3
	2	Salix Pharmaceuticals Ltd.•				20
	3	SuperGen, Inc.•				7
	1	Xenoport, Inc.•				12
						141
		Real Estate — 1.0%
	1	Digital Realty Trust, Inc.				27
	1	Douglas Emmett, Inc.				14
	—	Equity Residential Properties Trust				10
	—	Essex Property Trust, Inc.				9
						60
		Retailing — 1.0%
	1	AnnTaylor Stores Corp.•				6
	1	Audiovox Corp. Class A•				5
	2	Chico’s FAS, Inc.•				18
	1	Collective Brands, Inc.•				8
	1	Dress Barn, Inc.•				12
	2	Sally Beauty Co., Inc.•				11
						60
		Semiconductors & Semiconductor Equipment — 1.7%
	—	Atheros Communications, Inc.•				7
	6	Atmel Corp.•				22
	1	Diodes, Inc.•				16
	3	LSI Corp.•				13
	3	Micron Technology, Inc.•				16
	1	Microsemi Corp.•				12
	—	Rambus, Inc.•				5
	—	Silicon Laboratories, Inc.•				9
						100
		Software & Services — 3.0%
	—	Affiliated Computer Services, Inc. Class A•				23
	1	Ariba, Inc.•				8
	1	AsiaInfo Holdings, Inc.•				8
	1	Computer Sciences Corp.•				33
	—	IAC/Interactive Corp.•				6
	2	Internet Capital•				12
	2	Liquidity Services, Inc.•				16
	5	LivePerson, Inc.•				12
	—	Mercadolibre, Inc.•				11
	1	Red Hat, Inc.•				12
	1	Valueclick, Inc.•				10
	3	VeriFone Holdings, Inc.•				24
						175
		Technology Hardware & Equipment — 3.9%
	—	Agilent Technologies, Inc.•				5
	1	Cogent, Inc.•				7
	2	Cogo Group, Inc.•				14
	—	Coherent, Inc.•				5
	—	Hughes Communications Inc.•				8
	1	Intermec, Inc.•				16
	1	Juniper Networks, Inc.•				15
	1	Polycom, Inc.•				27
	1	Research In Motion Ltd.•				39
	3	SanDisk Corp.•				49
	13	Sanmina-Sci Corp.•				7
	4	Sycamore Networks, Inc.•				13
	1	Trimble Navigation Ltd.•				16
	—	ViaSat, Inc.•				6
						227
		Telecommunication Services — 3.4%
	11	Cincinnati Bell, Inc.•				30
	1	Crown Castle International Corp.•				28
	1	iPCS, Inc.•				19
	—	Leap Wireless International, Inc.•				10
	1	NII Holdings, Inc. Class B•				17
	1	SBA Communications Corp.•				16
	5	Sprint Nextel Corp.•				23
	3	Telmex Internacional				29
	1	US Cellular Corp.•				24
						196
		Transportation — 0.6%
	2	American Commercial Lines, Inc.•				8
	1	Atlas Air Worldwide Holdings, Inc.•				17
	—	Kirby Corp.•				8
						33
		Utilities — 3.7%
	3	AES Corp.•				18
	1	Allegheny Energy, Inc.				13
	1	Avista Corp.				13
	9	Dynegy Holdings, Inc.•				16
	1	El Paso Electric Co.•				17
	—	EQT Corp.				10
	1	ITC Holdings Corp.				23
	1	MDU Resources Group, Inc.				23
	—	Northwest Natural Gas Co.				18
	4	Reliant Resources, Inc.•				20
	—	South Jersey Industries, Inc.				11
	1	Wisconsin Energy Corp.				31
						213
		Total common stock (proceeds $2,652)			$	2,351
		Total securities sold short (proceeds $2,652)	40.8	%	$	2,351

Note:	Percentage of investments as shown is the ratio of the total market value to total net assets. Market value of long position investments in foreign securities represents 53.10% of total net assets at April 30, 2009.
	Foreign securities that are principally traded on certain foreign markets are adjusted daily pursuant to a third party pricing service methodology approved by the Board of Directors in order to reflect an adjustment for factors occurring after the close of the foreign market but before the close of the New York Stock Exchange.

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

9

The Hartford Global Enhanced Dividend Fund

Schedule of Investments — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

▲ At April 30, 2009, the cost of securities for federal income tax purposes was $8,157 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	1,028
Unrealized Depreciation		(3,405	)
Net Unrealized Depreciation	$	(2,377	)

•	Currently not paying a dividend.
‡	All or a portion of this security is held in a segregated account to cover the Fund’s short position.
╪	See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of securities.

Diversification by Country — Long Positions
as of April 30, 2009

	Percentage of
Country	Net Assets
Australia		1.0	%
Brazil		0.3
Canada		5.8
Chile		1.1
China		1.2
Finland		1.1
France		6.0
Germany		3.1
Greece		0.2
Hong Kong		0.9
India		0.6
Italy		1.5
Japan		11.0
Luxembourg		0.5
Mexico		0.5
Netherlands		1.2
New Zealand		0.2
Norway		0.5
Philippines		0.4
Portugal		0.2
South Africa		0.6
South Korea		0.6
Spain		1.3
Sweden		1.7
Switzerland		1.6
United Kingdom		10.0
United States		85.7
Short-Term Investments		2.4
Total Long Positions		141.2
Short Positions		(40.8	)
Other Assets and Liabilities		(0.4	)
Total		100.0	%

Diversification by Country — Securities Sold Short
as of April 30, 2009

	Percentage of
Country	Net Assets
Canada		1.5	%
China		0.6
India		0.5
Ireland		0.5
Japan		0.1
Mexico		0.5
United States		37.1
Total		40.8	%
FAS 157 Disclosure of Investment Valuation Hierarchy Levels
Assets:
Investment in securities — Level 1	$	8,131
Total	$	8,131
Liabilities:
Securities sold short — Level 1	$	2,351
Total	$	2,351

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

10

The Hartford Global Enhanced Dividend Fund

Statement of Assets and Liabilities
April 30, 2009 (Unaudited)
(000’s Omitted)

Assets:
Investments in securities, at fair value (cost $10,822)	$	8,131
Cash		1
Receivables:
Investment securities sold		299
Dividends and interest		40
Other assets		1
Total assets		8,472
Liabilities:
Securities sold short, at value (proceeds $2,652)		2,351
Payables:
Investment securities purchased		352
Investment management fees		1
Distribution fees		—
Dividends and interest on short positions		—
Accrued expenses		9
Total liabilities		2,713
Net assets	$	5,759
Summary of Net Assets:
Capital stock and paid-in-capital		10,927
Accumulated undistributed net investment income		38
Accumulated net realized loss on investments		(2,816	)
Unrealized depreciation of investments and the translation of assets and liabilities denominated in foreign currency		(2,390	)
Net assets	$	5,759
Shares authorized		850,000
Par value	$	0.001
Class A: Net asset value per share/Maximum offering price per share	$	5.21/$5.51
Shares outstanding		873
Net assets	$	4,552
Class B: Net asset value per share	$	5.21
Shares outstanding		33
Net assets	$	171
Class C: Net asset value per share	$	5.21
Shares outstanding		33
Net assets	$	171
Class I: Net asset value per share	$	5.22
Shares outstanding		33
Net assets	$	174
Class R3: Net asset value per share	$	5.21
Shares outstanding		33
Net assets	$	172
Class R4: Net asset value per share	$	5.21
Shares outstanding		33
Net assets	$	173
Class R5: Net asset value per share	$	5.21
Shares outstanding		33
Net assets	$	173
Class Y: Net asset value per share	$	5.22
Shares outstanding		33
Net assets	$	173

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

11

The Hartford Global Enhanced Dividend Fund

Statement of Operations
For the Six Month Period Ended April 30, 2009 (Unaudited)
(000’s Omitted)

Investment Income:
Dividends	$	280
Less: Foreign tax withheld		(7	)
Total investment income		273
Expenses:
Investment management fees		29
Distribution fees
Class A		6
Class B		1
Class C		1
Class R3		—
Class R4		—
Custodian fees		3
Accounting services		—
Board of Directors’ fees		1
Interest and dividend expense		6
Audit fees		3
Other expenses		14
Total expenses (before waivers and fees paid indirectly)		64
Expense waivers		(29	)
Custodian fee offset		—
Total waivers and fees paid indirectly		(29	)
Total expenses, net		35
Net investment income		238
Net Realized Loss on Investments:
Net realized loss on investments in securities		(3,475	)
Net realized gain on securities sold short		1,109
Net realized gain on foreign currency transactions		—
Net Realized Loss on Investments		(2,366	)
Net Changes in Unrealized Appreciation of Investments:
Net unrealized appreciation of investments		2,279
Net unrealized depreciation of securities sold short		(1,153	)
Net unrealized appreciation on translation of other assets and liabilities in foreign currencies		—
Net Changes in Unrealized Appreciation of Investments		1,126
Net Loss on Investments		(1,240	)
Net Decrease in Net Assets Resulting from Operations	$	(1,002	)

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

12

The Hartford Global Enhanced Dividend Fund

Statement of Changes in Net Assets

(000’s Omitted)

				For the Period
	For the Six-Month			November 28,
	Period Ended			2007**
	April 30, 2009			through
	(Unaudited)			October 31, 2008
Operations:
Net investment income	$	238		$	759
Net realized loss on investments		(2,366	)		(482	)
Net unrealized appreciation (depreciation) of investments		1,126			(3,516	)
Net decrease in net assets resulting from operations		(1,002	)		(3,239	)
Distributions to Shareholders:
From net investment income
Class A		(167	)		(454	)
Class B		(6	)		(16	)
Class C		(6	)		(16	)
Class I		(6	)		(18	)
Class R3		(6	)		(16	)
Class R4		(6	)		(17	)
Class R5		(6	)		(17	)
Class Y		(7	)		(18	)
Total distributions		(210	)		(572	)
Capital Share Transactions:
Class A		167			8,354
Class B		6			316
Class C		6			316
Class I		6			318
Class R3		6			316
Class R4		6			317
Class R5		6			317
Class Y		7			318
Net increase from capital share transactions		210			10,572
Net increase (decrease) in net assets		(1,002	)		6,761
Net Assets:
Beginning of period		6,761			—
End of period	$	5,759		$	6,761
Accumulated undistributed net investment income	$	38		$	10

^** Commencement of operations.

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

13

The Hartford Global Enhanced Dividend Fund

Notes to Financial Statements
April 30, 2009 (Unaudited)
(000’s Omitted)

1.	Organization:
	The Hartford Mutual Funds, Inc. (“Company”) is an open-end management investment company comprised of fifty-two portfolios. Financial statements for The Hartford Global Enhanced Dividend Fund (the “Fund”), a series of the Company, are included in this report.
	The Company is organized under the laws of the State of Maryland and is registered with the Securities and Exchange Commission (“SEC”) under the Investment Company Act of 1940, as amended (“1940 Act”). The Fund is a diversified open-end management investment company.
	Class A shares are sold with a front-end sales charge of up to 5.50%. Class B shares are sold with a contingent deferred sales charge which is assessed on the lesser of the per share net asset value (“NAV”) of the shares at the time of redemption or the original purchase price, and declines from up to 5.00% to zero depending on the period of time the shares are held. Class C shares are sold with a contingent deferred sales charge of up to 1.00% on shares redeemed within twelve months of purchase. Class I shares are sold without sales charges to certain eligible investors through advisory fee-based wrap programs. Classes R3, R4, R5 shares, which are offered to employer-sponsored retirement plans, and Class Y shares, which are sold to certain eligible institutional investors, are sold without a sales charge. All classes of shares have identical voting, redemption, dividend, liquidation and other rights and the same terms and conditions, with the exceptions that each class may have different expenses, which may affect performance, and except that Class B shares automatically convert to Class A shares after 8 years.
	This Fund’s shares were not offered to the public for the period from November 27, 2007 through April 30, 2009.
	Effective at the close of business on September 30, 2009 (the “Close Date”), no new or additional investments will be allowed in Class B shares of The Hartford Mutual Funds (including investments through any systematic investment plan). After the Close Date, existing shareholders of Class B shares may continue to hold their Class B shares, exchange their Class B shares for Class B shares of another Hartford Mutual Fund (as permitted by existing exchange privileges), and redeem their Class B shares as described in the Fund’s prospectus. Reinstatement privileges with respect to Class B shares will continue under the current policy. If you have chosen to reinvest capital gains and dividends, any such capital gains or dividends on Class B shares will continue to be reinvested in Class B shares of the Fund. For Class B shares outstanding as of the Close Date, all Class B share attributes, including the 12b-1 fee, contingent deferred sales charge schedule, and conversion to Class A shares remain unchanged.
2.	Significant Accounting Policies:
	The following is a summary of significant accounting policies of the Fund, which are in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”).

a)	Security Transactions and Investment Income — Security transactions are recorded on the trade date (the date the order to buy or sell is executed). Security gains and losses are determined on the basis of identified cost.
	Dividend income is accrued as of the ex-dividend date, except that certain dividends for foreign securities where the ex-dividend date may have passed are recorded as soon as the Fund is informed of the dividend in the exercise of reasonable diligence. Interest income, including amortization of premium and accretion of discounts, is accrued on a daily basis.
b)	Security Valuation — The Fund generally uses market prices in valuing portfolio securities. If market prices are not readily available or are deemed unreliable, the Fund will use the fair value of the security as determined in good faith under policies and procedures established by and under the supervision of the Fund’s Board of Directors. Market prices may be deemed unreliable, for example, if a security is thinly traded or if an event has occurred after the close of the security’s primary markets, but before the close of the New York Stock Exchange (the “Exchange”) (normally 4:00 p.m. Eastern Time, referred to as the “Valuation Time”) that is expected to affect the value of the portfolio security. The

14

circumstances in which the Fund may use fair value pricing include, among others: (i) the occurrence of events that are significant to a particular issuer, such as mergers, restructuring or defaults; (ii) the occurrence of events that are significant to an entire market, such as natural disasters in a particular region or governmental actions; (iii) trading restrictions on securities; (iv) thinly traded securities and (v) market events such as trading halts and early market closings. In addition, with respect to the valuation of stocks primarily traded on foreign markets, the Fund uses a fair value pricing service approved by the Fund’s Board of Directors, which employs quantitative models that evaluate changes in the value of foreign market proxies (e.g., futures contracts, ADR’s, exchange traded funds (“ETF’s”)) after the close of the foreign markets but before the close of the Exchange. Securities that are primarily traded on foreign markets may trade on days that are not business days of the Fund. The value of the foreign securities in which the Fund invests may change on days when a shareholder will not be able to purchase or redeem shares of the Fund. Fair value pricing is subjective in nature and the use of fair value pricing by the Fund may cause the NAV of its shares to differ significantly from the NAV that would have been calculated using market prices at the close of the exchange on which a portfolio security is primarily traded but before the close of the Exchange. There can be no assurance that the Fund could obtain the fair value assigned to a security if the Fund were to sell the security at approximately the time at which the Fund determines its NAV.

Debt securities (other than short-term obligations and senior floating rate interests) held by the Fund are valued on the basis of valuations furnished by an independent pricing service which determines valuations for normal institutional size trading units of debt securities. Senior floating rate interests generally trade in over-the-counter markets and are priced through an independent pricing service utilizing independent market quotations from loan dealers or financial institutions. Securities for which prices are not available from an independent pricing service are valued using market quotations obtained from one or more dealers that make markets in the securities in accordance with procedures established by the Fund’s Board of Directors. Generally, the Fund may use fair valuation in regard to debt securities when the Fund holds defaulted or distressed securities or securities in a company in which a reorganization is pending. Short-term investments with a maturity of more than 60 days when purchased are valued based on market quotations until the remaining days to maturity become less than 61 days. Investments that mature in 60 days or less are valued at amortized cost, which approximates market value.

Exchange traded equity securities shall be valued at the last reported sale price on the exchange or market on which the security is primarily traded (the “Primary Market”) at the Valuation Time. If the security did not trade on the Primary Market, it may be valued at the Valuation Time at the last reported sale price on another exchange where it trades. The value of an equity security not traded on any exchange but traded on the Nasdaq Stock Market, Inc. (“Nasdaq”) or another over-the-counter market shall be valued at the last reported sale price or official closing price on the exchange or market on which the security is traded as of the Valuation Time. If it is not possible to determine the last reported sale price or official closing price on the relevant exchange or market at the Valuation Time, the value of the security shall be taken to be the most recent mean between bid and asked prices on such exchange or market at the Valuation Time.

Securities of foreign issuers and non-dollar securities are translated from the local currency into U.S. dollars using prevailing exchange rates.

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

A forward currency contract shall be valued based on the price of the underlying currency at the prevailing interpolated exchange rate, which is a combination of the spot currency rate and the forward currency rate. Spot currency rates and forward currency rates are obtained from an independent pricing service on a daily basis not more than one hour before the Valuation Time.

Other derivative or contractual type instruments shall be valued using market prices if such instruments trade on an exchange or market. If such instruments do not trade on an exchange or market, such instruments shall be valued at a price at which the counterparty to such contract would repurchase the instrument. In the event that the counterparty

15

The Hartford Global Enhanced Dividend Fund

Statement of Changes in Net Assets — (continued)

(000’s Omitted)

	cannot provide a price, such valuation may be determined in accordance with procedures established by the Fund’s Board of Directors.
	Investments in open-end mutual funds are valued at the respective NAV of each open-end mutual fund on the valuation date.
c)	Foreign Currency Transactions — The accounting records of the Fund are maintained in U.S. dollars. All assets and liabilities initially expressed in foreign currencies are converted into U.S. dollars at the prevailing exchange rates. Purchases and sales of investment securities, dividend and interest income and certain expenses are translated at the rates of exchange prevailing on the respective dates of such transactions.
	The Fund does not isolate that portion of portfolio security valuation resulting from fluctuations in the foreign currency exchange rates on portfolio securities from the fluctuations arising from changes in the market prices of securities held. Such fluctuations are included with the net realized and unrealized gain or loss on investments in the accompanying financial statements.
	Net realized foreign exchange gains or losses arise from sales of foreign currencies and the difference between asset and liability amounts initially stated in foreign currencies and the U.S. dollar value of the amounts actually received or paid. Net unrealized foreign exchange gains or losses arise from changes in the value of other assets and liabilities at the end of the reporting period, resulting from changes in the exchange rates.
d)	Joint Trading Account — Pursuant to an exemptive order issued by the SEC, the Fund may transfer uninvested cash balances into a joint trading account managed by Hartford Investment Management Company (“Hartford Investment Management”). These balances may be invested in one or more repurchase agreements and/or short-term money market instruments.
e)	Forward Foreign Currency Contracts — The Fund may enter into forward foreign currency contracts that obligate the Fund to repurchase/replace or sell currencies at specified future dates. Forward foreign currency contracts may be used to hedge against adverse fluctuations in exchange rates between currencies.
	Forward foreign currency contracts involve elements of market risk in excess of the amount reflected in the Statement of Assets and Liabilities. In addition, risks may arise upon entering into these contracts from the potential inability of the counterparties to meet the terms of the contracts and from unanticipated movements in the value of the foreign currencies relative to the U.S. dollar.
f)	Indexed Securities — The Fund may invest in indexed securities whose values are linked to changes in interest rates, indices, or other underlying instruments. The Fund uses these securities to increase or decrease its exposure to different underlying instruments and to gain exposure to markets that might be difficult to invest in using conventional securities. Indexed securities may be more volatile than their underlying instruments, but any loss is limited to the amount of the original investment and there may be a limit to the potential appreciation of the investment. The Fund had no investments in indexed securities as of April 30, 2009.
g)	Fund Share Valuation and Dividend Distributions to Shareholders — Orders for the Fund’s shares are executed in accordance with the investment instructions of the shareholders. The NAV of the Fund’s shares is determined as of the close of each business day of the Exchange. The NAV is determined separately for each class of the Fund by dividing the Fund’s net assets attributable to that class by the number of shares of the class outstanding. Orders for the purchase of the Fund’s shares prior to the close of the Exchange on any day on which the Exchange is open for business are priced at the NAV determined as of the close of the Exchange. Orders after the close of the Exchange, or on a day on which the Exchange and/or the Fund is not open for business, are priced at the next determined NAV.

16

	The Fund intends to distribute substantially all of its net investment income and net realized capital gains to shareholders no less frequently than once a year. Normally, dividends from net investment income are declared and paid quarterly. Dividends are paid on shares beginning on the business day after the day when the funds used to purchase the shares are collected by the transfer agent for the Fund. Unless shareholders specify otherwise, all dividends will be automatically reinvested in additional full or fractional shares of the Fund.
	Distributions from net investment income, realized capital gains and capital are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP with respect to character and timing. These differences include but are not limited to foreign currency gains and losses, losses deferred due to wash sales adjustments, adjustments related to Passive Foreign Investment Companies and certain derivatives, and excise tax regulations. Permanent book and federal income tax basis differences relating to shareholder distributions will result in reclassifications to certain of the Fund’s capital accounts (see Federal Income Taxes: Reclassification of Capital Accounts footnote).
h)	Illiquid and Restricted Securities — The Fund is permitted to invest up to 15% of its net assets in illiquid securities. “Illiquid Securities” are those that may not be sold or disposed of in the ordinary course of business within seven days, at approximately the price used to determine the Fund’s NAV. The Fund may not be able to sell illiquid securities or other investments when its sub-adviser considers it desirable to do so or may have to sell such securities or investments at a price that is lower than the price that could be obtained if the securities or investments were more liquid. A sale of illiquid securities or other investments may require more time and may result in higher dealer discounts and other selling expenses than does the sale of those that are liquid. Illiquid securities and investments also may be more difficult to value, due to the unavailability of reliable market quotations for such securities or investments, and investment in them may have an adverse impact on the Fund’s NAV. The Fund may also purchase certain restricted securities, commonly known as Rule 144A securities, that can be resold to institutions and which may be determined to be liquid pursuant to policies and guidelines established by the Fund’s Board of Directors. The Fund had no illiquid or restricted securities as of April 30, 2009.
i)	Use of Estimates — The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and the reported amounts of income and expenses during the period. Operating results in the future could vary from the amounts derived from management’s estimates.
j)	Financial Accounting Standards Board Financial Accounting Standards No. 157 — Effective November 1, 2008, the Fund adopted Financial Accounting Standards Board (“FASB”) Statement of Financial Accounting Standards No. 157, “Fair Value Measurements” (“FAS 157”). This standard clarifies the definition of fair value for financial reporting, establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements. Fair value is defined under FAS 157 as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Under FAS 157, a fair value measurement should reflect all of the assumptions that market participants would use in pricing the asset or liability, including assumptions about the risk inherent in a particular valuation technique, the effect of a restriction on the sale or use of an asset, and the risk of nonperformance.
	Various inputs are used in determining the value of the Fund’s investment. These inputs are summarized, per FAS 157, into three broad hierarchy levels. This hierarchy is based on whether the valuation inputs are observable or unobservable. These levels are:

• Level 1 — Quoted prices in active markets for identical securities. Level 1 includes exchange-traded instruments such as domestic equities, some foreign equities, options, futures, mutual funds, ETF’s, and rights and warrants.

• Level 2 — Observable inputs other than Level 1 prices, such as quoted prices for similar securities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the security. Level 2 includes debt securities that are traded less frequently

17

The Hartford Global Enhanced Dividend Fund

Statement of Changes in Net Assets — (continued)

(000’s Omitted)

than exchange-traded instruments and that are valued using third party pricing services and foreign equities, whose value is determined using a multi-factor regression model with inputs that are observable in the market; and money market instruments, which are carried at amortized cost.

•

Level 3 — Significant unobservable inputs that are supported by little or no market activity. Level 3 includes financial instruments whose values are determined using broker quotes and require significant management judgment or estimation. This category includes broker quoted securities, long dated OTC options and securities where trading has been halted or there are certain restrictions on trading. While these securities are priced using unobservable inputs, the valuation of these securities reflects the best available data and management believes the prices are a good representation of exit price.

	Individual securities within any of the above mentioned asset classes may be assigned a different hierarchical level than those presented above, as individual circumstances dictate.
	FAS 157 also requires that a roll forward reconciliation be shown for all Level 3 securities from the beginning of the reporting period to the end of the reporting period. Part of this reconciliation includes transfers in and/or out of Level 3. For purposes of this reconciliation, transfers in are shown at the end of period fair value and transfers out are shown at the beginning of period fair value. During the six-month period ended April 30, 2009, the Fund held no Level 3 securities.
	Refer to the valuation hierarchy levels summary found following the Schedule of Investments.
	FASB Staff Position No. 157-4 — In April 2009, FASB released FASB Staff Position No. 157-4, “Determining Fair Value When the Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly” (“FSP FAS 157-4”). FSP FAS 157-4 provides additional guidance on determining whether a market for a financial asset is not active and a transaction is not distressed when measuring fair value under FAS 157. The FSP also requires additional disclosure detail on debt and equity securities by major investment categories. FSP FAS 157-4 is effective for interim and annual periods ending after June 15, 2009. At this time, management is evaluating the implications of FSP FAS 157-4 and does not believe it will impact valuation but will require additional disclosure. This additional disclosure has not yet been implemented.
k)	Financial Accounting Standards Board Financial Accounting Standards No. 161 — In March 2008, the FASB released Statement of Financial Accounting Standards No. 161, “Disclosures about Derivative Instruments and Hedging Activities” (“FAS 161”). FAS 161 requires companies to disclose information detailing the objectives and strategies for using derivative instruments, the level of derivative activity entered into by the company and any credit risk-related contingent features of the agreements. The application of FAS 161 is required for fiscal years and interim periods beginning after November 15, 2008. At this time, management is evaluating the implications of FAS 161 and has not yet implemented the new disclosure standard.
l)	Securities Sold Short — As part of its principal investment strategy, the Fund will enter into short sales. In a short sale, the Fund sells a borrowed security (typically from a broker or other institution). The Fund may not always be able to borrow the security at a particular time or at an acceptable price. Thus, there is a risk that the fund may be unable to implement its investment strategy due to the lack of available stocks or for other reasons. After selling the borrowed security, the Fund is obligated to “cover” the short sale by purchasing the security and returning the security to the lender. If a security sold short increases in price, the Fund may have to cover its short position at a higher price than the short sale price, resulting in a loss. Because the Fund’s loss on a short sale arises from increases in the value of the security sold short, such loss is theoretically unlimited. In certain cases, purchasing a security to cover a short position can itself cause the price of the security to rise further, thereby exacerbating the loss.
	Short sales also involve other costs. The Fund must normally repay to the lender an amount equal to any dividends or interest that accrues while the loan is outstanding. In addition, to borrow the security, the Fund may be required to pay a premium. The Fund also will incur transaction costs in effecting short sales. The amount of any ultimate gain for the

18

	Fund resulting from a short sale will be decreased, and the amount of any ultimate loss will be increased, by the amount of the premiums, dividends, interest or expenses the Fund may be required to pay in connection with the short sale. Until the Fund replaces a borrowed security, it is required to maintain a segregated account of cash or liquid assets to cover the Fund’s short position. Securities held in a segregated account can not be sold while the position they are covering is outstanding, unless they are replaced with similar securities. Additionally, the Fund must maintain a sufficient liquid asset (less any additional collateral held by the broker) to cover the short sale obligation. This may limit the Fund’s investment flexibility, as well as its ability to meet redemption or other current obligations.
	Dividends declared on short positions existing on the record date are recorded on the ex-dividend date as an expense on the Statement of Operations.
m)	Indemnifications: Under the Company’s organizational documents, the Company shall indemnify its officers and directors to the full extent required or permitted under Maryland General Corporation Law and the federal securities law. In addition, the Company, on behalf of the Fund, may enter into contracts that contain a variety of indemnifications. The Company’s maximum exposure under these arrangements is unknown. However, the Company has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote.

3. Federal Income Taxes:

a)

Federal Income Taxes — For federal income tax purposes, the Fund intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code (“IRC”) by distributing substantially all of its taxable net investment income and net realized capital gains to its shareholders and otherwise complying with the requirements of regulated investment companies. The Fund has distributed substantially all of its income and capital gains in prior years and the Fund intends to distribute substantially all of its income and gains during the calendar year ending December 31, 2009. Accordingly, no provision for federal income or excise taxes has been made in the accompanying financial statements. Distributions from short-term capital gains are treated as ordinary income distributions for federal income tax purposes.

b)

The tax character of distributions paid by the Fund for the periods indicated is as follows (as adjusted for dividends payable):

	For the Year Ended
	October 31, 2008 *
Ordinary Income	$	572

* Commenced operations on November 28, 2007.

As of October 31, 2008, the Fund’s components of distributable earnings (deficit) on a tax basis were as follows:

	Amount
Undistributed Ordinary Income	$	10
Accumulated Capital Losses*	$	(464	)
Unrealized Depreciation†	$	(3,502	)
Total Accumulated Deficit	$	(3,956	)

*	The Fund has capital loss carryforwards that are identified in the Capital Loss Carryforward note that follows.
†	The differences between book-basis and tax-basis unrealized appreciation (depreciation) are attributable to the tax deferral of wash sales losses, the mark-to-market adjustment for certain derivatives in accordance with IRC Sec. 1256, the mark to market for Passive Foreign Investment Companies and basis differences in real estate investment trusts.

19

The Hartford Global Enhanced Dividend Fund

Statement of Changes in Net Assets — (continued)

(000’s Omitted)

c)

Reclassification of Capital Accounts — In accordance with American Institute of Certified Public Accountants (AICPA) Statement of Position 93-2, Determination, Disclosure, and Financial Statement Presentation of Income, Capital Gain, and Return of Capital Distributions by Investment Companies, the Fund has recorded reclassifications in its capital accounts. These reclassifications had no impact on the NAV of the Fund. The reclassifications are a result of permanent differences between GAAP and tax accounting for such items as net operating losses that reduce distribution requirements. Adjustments are made to reflect the impact these items have on current and future distributions to shareholders. Therefore, the source of the Fund’s distributions may be shown in the accompanying Statement of Changes in Net Assets as from net investment income, from net realized gains on investments or from capital depending on the type of book and tax differences that exist. As of October 31, 2008, the Fund recorded reclassifications to decrease undistributed net investment income by $177, increase accumulated net realized gain by $32, and increase paid in capital by $145.

d)

Capital Loss Carryforward — At October 31, 2008 (tax-year-end), the Fund had capital loss carryforwards for U.S. federal income tax purposes of approximately:

Year	Amount
2016	$	464
Total	$	464

e) Financial Accounting Standards Board Interpretation No. 48 — On July 13, 2006, the FASB released FASB Interpretation No. 48 “Accounting for Uncertainty in Income Taxes” (“FIN 48”). FIN 48 provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. The Fund adopted FIN 48 for fiscal years beginning after December 15, 2006. Management has evaluated the implications of FIN 48 for all open tax years (tax years ended October 31, 2006 — 2008) and has determined there is no impact to the Fund’s financial statements.

4. Expenses:

a)

Investment Management Agreements — Hartford Investment Financial Services, LLC (“HIFSCO”) serves as investment manager to the Fund pursuant to an Investment Management Agreement with The Hartford Mutual Funds, Inc. As investment manager, HIFSCO has overall investment supervisory responsibility for the Fund. In addition, HIFSCO provides administrative personnel, services, equipment, facilities and office space for proper operation of the Fund. HIFSCO has contracted with Hartford Investment Management for the provision of day-to-day investment management services to the Fund in accordance with the Fund’s investment objective and policies. The Fund pays a fee to HIFSCO, a portion of which may be used to compensate Hartford Investment Management.

The schedule below reflects the rates of compensation paid to HIFSCO for investment management services rendered during the six-month period ended April 30, 2009; the rates are accrued daily and paid monthly:

Average Daily Net Assets	Annual Fee
On first $500 million		1.00	%
On next $500 million		0.95	%
On next $4 billion		0.90	%
On next $5 billion		0.88	%
Over $10 billion		0.87	%

HIFSCO has voluntarily agreed to waive 100% of the management fees through February 28, 2010.

20

b) Accounting Services Agreement — Pursuant to the Fund Accounting Agreement between Hartford Life Insurance Company (“HLIC”) and the Fund, HLIC provides accounting services to the Fund and receives monthly compensation on the Fund’s average net assets. The Fund’s accounting service fees are accrued daily and paid monthly.

Average Daily Net Assets	Annual Fee
On first $5 billion		0.018	%
On next $5 billion		0.016	%
Over $10 billion		0.014	%

c) Operating Expenses — Allocable expenses incurred by the Company are allocated to each Fund and allocated to classes within the Fund in proportion to the average daily net assets of the Fund and each class, except where allocation of certain expenses is more fairly made directly to the Fund or to specific classes within a Fund. During the six-month period ended April 30, 2009, HIFSCO has contractually limited the total operating expenses of this Fund, exclusive of taxes, interest expense, brokerage commissions, certain distribution expenses and extraordinary expenses as follows:

Class A	Class B	Class C	Class I	Class R3	Class R4	Class R5	Class Y
1.60%	2.35%	2.35%	1.35%	1.85%	1.60%	1.35%	1.25%

d)	Fees Paid Indirectly — The Fund’s custodian bank has agreed to reduce its fees when the Fund maintains cash on deposit in the non-interest-bearing custody account. For the six-month period ended April 30, 2009, this amount is included in the Statement of Operations.
	The ratio of expenses to average net assets in the accompanying financial highlights excludes the reduction in expenses related to fees paid indirectly. Had the fees paid indirectly been included, the annualized expense ratio for the periods listed below would have been as follows:

	Annualized
	Six-Month
	Period			Year Ended
	Ended April			October 31,
	30, 2009			2008
Class A Shares		1.17	%		0.58	%*
Class B Shares		1.92			1.33	†
Class C Shares		1.92			1.33	‡
Class I Shares		0.92			0.33	§
Class R3 Shares		1.62			1.03	**
Class R4 Shares		1.32			0.73	††
Class R5 Shares		1.02			0.43	‡‡
Class Y Shares		0.92			0.33	§§

*	From November 28, 2007 (commencement of operations), through October 31, 2008
†	From November 28, 2007 (commencement of operations), through October 31, 2008
‡	From November 28, 2007 (commencement of operations), through October 31, 2008
§	From November 28, 2007 (commencement of operations), through October 31, 2008
**	From November 28, 2007 (commencement of operations), through October 31, 2008
††	From November 28, 2007 (commencement of operations), through October 31, 2008
‡‡	From November 28, 2007 (commencement of operations), through October 31, 2008
§§	From November 28, 2007 (commencement of operations), through October 31, 2008

e) Distribution and Service Plan for Class A, B, C, R3 and R4 Shares — HIFSCO is the principal underwriter and distributor of the Fund. HIFSCO is engaged in distribution activities, which include marketing and distribution of shares through

21

The Hartford Global Enhanced Dividend Fund

Statement of Changes in Net Assets — (continued)

(000’s Omitted)

	broker-dealers, financing distribution costs and maintaining financial books and records. For the six-month period ended April 30, 2009, HIFSCO received front-end load sales charges in an amount that rounds to zero and contingent deferred sales charges in an amount that rounds to zero from the Fund.
	The Fund has adopted Distribution and Service Plans in accordance with Rule 12b-1 of the Investment Company Act of 1940, as amended, to compensate the distributor (HIFSCO) for activities intended to result in the sale and distribution of Classes A, B, C, R3 and R4 shares and for providing services for shareholders. The Rule 12b-1 plan applicable to Class A shares of the Funds provides for payment of a Rule 12b-1 fee of up to 0.35% of average daily net assets; however, the Board of Directors has currently authorized 12b-1 payments of only up to 0.25%. Some or all of the fee may be used for shareholder servicing expenses with the remainder used for distribution expenses. Some or the entire Rule 12b-1 fee for Class B shares may be remitted to broker-dealers for distribution and/or shareholder account services. Under the Class B Plan, the Fund pays the Distributor 1.00% of the average daily net assets of Class B shares that are outstanding for 8 years or less, 0.25% of which is a fee for services provided to existing shareholders with the remainder used for distribution expenses. After eight years, Class B shares convert to Class A shares. Upon conversion to Class A shares, the Class A plan described above will apply to those shares. Under the Class C Plan, the Fund pays the Distributor 1.00% of the average daily net assets of Class C shares outstanding, 0.25% of which is intended as a fee for services provided to existing shareholders with the remainder used for distribution expenses. For Class C shares, some or the entire fee may be remitted to broker-dealers for distribution and/or shareholder account services. Class R3 shares have a distribution fee of 0.50% and Class R4 shares have a distribution fee of 0.25%. For Classes R3 and R4 shares, some or the entire fee may be remitted to broker dealers for distribution and/or shareholder account services. The Fund’s 12b-1 fees are accrued daily and paid monthly.
f)	Other Related Party Transactions — Certain officers of the Fund are directors and/or officers of HIFSCO and/or The Hartford or its subsidiaries. For the six-month period ended April 30, 2009, a portion of the Fund’s chief compliance officer’s salary was paid by the Fund in an amount, which rounds to zero. Hartford Administrative Services Company (“HASCO”), an indirect wholly owned subsidiary of The Hartford, provides transfer agent services to the Fund. HASCO was compensated an amount, which rounds to zero, for providing such services. These fees are accrued daily and paid monthly.

5. Affiliate Holdings:

As of April 30, 2009, affiliates of The Hartford had ownership of shares in the Fund as follows:

	Shares
Class A		873
Class B		33
Class C		33
Class I		33
Class R3		33
Class R4		33
Class R5		33
Class Y		33

22

6. Investment Transactions:

For the six-month period ended April 30, 2009, the Fund’s aggregate purchases and sales of investment securities (excluding short-term investments) were as follows:

	Amount
Cost of Purchases Excluding U.S. Government Obligations	$	2,327
Sales Proceeds Excluding U.S. Government Obligations		1,936

7. Capital Share Transactions:

The following information is for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	For the Six-Month Period Ended April 30, 2009										For the Year Ended October 31, 2008
			Shares				Shares						Shares				Shares
			Issued for				Issued		Net Increase				Issued for				Issued		Net Increase
	Shares		Reinvested		Shares		from		(Decrease) of		Shares		Reinvested		Shares		from		(Decrease) of
	Sold		Dividends		Redeemed		Merger		Shares		Sold		Dividends		Redeemed		Merger		Shares
Class A
Shares		—		31		—		—		31		790		52		—		—		842
Amount	$	—	$	167	$	—	$	—	$	167	$	7,900	$	454	$	—	$	—	$	8,354
Class B
Shares		—		1		—		—		1		30		2		—		—		32
Amount	$	—	$	6	$	—	$	—	$	6	$	300	$	16	$	—	$	—	$	316
Class C
Shares		—		1		—		—		1		30		2		—		—		32
Amount	$	—	$	6	$	—	$	—	$	6	$	300	$	16	$	—	$	—	$	316
Class I
Shares		—		1		—		—		1		30		2		—		—		32
Amount	$	—	$	6	$	—	$	—	$	6	$	300	$	18	$	—	$	—	$	318
Class R3
Shares		—		1		—		—		1		30		2		—		—		32
Amount	$	—	$	6	$	—	$	—	$	6	$	300	$	16	$	—	$	—	$	316
Class R4
Shares		—		1		—		—		1		30		2		—		—		32
Amount	$	—	$	6	$	—	$	—	$	6	$	300	$	17	$	—	$	—	$	317
Class R5
Shares		—		1		—		—		1		30		2		—		—		32
Amount	$	—	$	6	$	—	$	—	$	6	$	300	$	17	$	—	$	—	$	317
Class Y
Shares		—		1		—		—		1		30		2		—		—		32
Amount	$	—	$	7	$	—	$	—	$	7	$	300	$	18	$	—	$	—	$	318

8. Line of Credit:

The Fund is one of several Hartford Funds that participate in a $500 million committed revolving line of credit facility. The facility is to be used for temporary or emergency purposes. Under the arrangement, the Fund is required to own securities having a market value in excess of 300% of the total bank borrowings. The interest rate on borrowings varies depending on the nature of the loan. The facility also requires a fee to be paid based on the amount of the commitment. During the six-month period ended April 30, 2009, the Fund did not have any borrowings under this facility.

9. Industry Classifications:

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

23

The Hartford Global Enhanced Dividend Fund

Financial Highlights — (Unaudited)

— Selected Per-Share Data — (a)																										— Ratios and Supplemental Data —
																																	Ratio of			Ratio of			Ratio of
																																	Expenses			Expenses			Expenses
																																	to Average			to Average			to Average
																																	Net Assets			Net Assets			Net Assets
																																	Before			After			After
							Net																										Waivers			Waivers			Waivers
							Realized																										and			and			and			Ratio of
							and Un-									Distrib-							Net										Reimburse-			Reimburse-			Reimburse-			Net
			Net		Pay-		realized						Dividends			utions							Increase			Net					Net		ments and			ments and			ments and			Invest-			Port-
	Net Asset		Invest-		ments		Gain						from Net			from		Distri-					(Decrease)			Asset					Assets at		Including			Including			Excluding			ment			folio
	Value at		ment		from		(Loss) on			Total from			Invest-			Realized		butions		Total			in Net			Value at					End of		Expenses			Expenses			Expenses			Income to			Turn-
	Beginning		Income		(to)		Invest-			Investment			ment			Capital		from		Distri-			Asset			End of		Total			Period		not Subject			not Subject			not Subject			Average			over
Class	of Period		(Loss)		Affiliate		ments			Operations			Income			Gains		Capital		butions			Value			Period		Return(b)			(000’s)		to Cap(c)			to Cap(c)			to Cap(c)			Net Assets			Rate(d)
For the Six-Month Period Ended April 30, 2009 (Unaudited)
A	$	6.34	$	0.21	$	—	$	(1.14	)	$	(0.93	)	$	(0.20	)	$	—	$	—	$	(0.20	)	$	(1.13	)	$	5.21		(14.85)	%(e)	$	4,552		2.17	%(f)		1.17	%(f)		0.68	%(f)		8.11	%(f)		34	%
B		6 33		0.19		—		(1.13	)		(0.94	)		(0.18	)		—		—		(0.18	)		(1.12	)		5.21		(15.03	) (e)		171		2.92	(f)		1.92	(f)		1.43	(f)		7.36	(f)		—
C		6 33		0.19		—		(1.13	)		(0.94	)		(0.18	)		—		—		(0.18	)		(1.12	)		5.21		(15.03	) (e)		171		2.92	(f)		1.92	(f)		1.43	(f)		7.36	(f)		—
I		6.34		0.22		—		(1.14	)		(0.92	)		(0.20	)		—		—		(0.20	)		(1.12	)		5.22		(14.58	) (e)		174		1.92	(f)		0.92	(f)		0.43	(f)		8.36	(f)		—
R3		6.34		0.20		—		(1.15	)		(0.95	)		(0.18	)		—		—		(0.18	)		(1.13	)		5.21		(15.04	) (e)		172		2.62	(f)		1.62	(f)		1.13	(f)		7.66	(f)		—
R4		6.34		0.21		—		(1.15	)		(0.94	)		(0.19	)		—		—		(0.19	)		(1.13	)		5.21		(14.92	) (e)		173		2.32	(f)		1.32	(f)		0.83	(f)		7.96	(f)		—
R5		6.34		0.22		—		(1.15	)		(0.93	)		(0.20	)		—		—		(0.20	)		(1.13	)		5.21		(14.79	) (e)		173		2.02	(f)		1.02	(f)		0.53	(f)		8.26	(f)		—
Y		6.34		0.22		—		(1.14	)		(0.92	)		(0.20	)		—		—		(0.20	)		(1.12	)		5.22		(14.58	) (e)		173		1.92	(f)		0.92	(f)		0.43	(f)		8.36	(f)		—
From (commencement of operations) November 28, 2007, through October 31, 2008
A(g)		10.00		0.74		—		(3.84	)		(3.10	)		(0.56	)		—		—		(0.56	)		(3.66	)		6.34		(32.37	) (e)		5,343		2.09	(f)		1.09	(f)		0 .58	(f)		9.20	(f)		70
B(h)		10.00		0.68		—		(3.84	)		(3.16	)		(0.51	)		—		—		(0.51	)		(3.67	)		6 33		(32.86	) (e)		202		2.84	(f)		1.84	(f)		1.33	(f)		8.45	(f)		—
C(i)		10.00		0.68		—		(3.84	)		(3.16	)		(0.51	)		—		—		(0.51	)		(3.67	)		6 33		(32.86	) (e)		202		2.84	(f)		1.84	(f)		1.33	(f)		8.45	(f)		—
I(j)		10.00		0.76		—		(3.84	)		(3.08	)		(0.58	)		—		—		(0.58	)		(3.66	)		6.34		(32.24	) (e)		203		1.84	(f)		0.84	(f)		0.33	(f)		9.45	(f)		—
R3(k)		10.00		0.71		—		(3.84	)		(3.13	)		(0.53	)		—		—		(0.53	)		(3.66	)		6.34		(32.60	) (e)		202		2.54	(f)		1.54	(f)		1.03	(f)		8.75	(f)		—
R4(l)		10.00		0.73		—		(3.84	)		(3.11	)		(0.55	)		—		—		(0.55	)		(3.66	)		6.34		(32.44	) (e)		203		2.24	(f)		1.24	(f)		0.73	(f)		9.05	(f)		—
R5(m)		10.00		0.75		—		(3.84	)		(3.09	)		(0.57	)		—		—		(0.57	)		(3.66	)		6.34		(32.29	) (e)		203		1.94	(f)		0.94	(f)		0.43	(f)		9.35	(f)		—
Y(n)		10.00		0.76		—		(3.84	)		(3.08	)		(0.58	)		—		—		(0.58	)		(3.66	)		6.34		(32.24	) (e)		203		1.84	(f)		0.84	(f)		0.33	(f)		9.45	(f)		—

(a)	Information presented relates to a share outstanding throughout the indicated period.
(b)	Assumes initial investment at net asset value at the beginning of each period, reinvestment of all distributions, the complete redemption of the investment at net asset value at the end of each period and no sales charge. Total return would be reduced if sales charges were taken into account.
(c)	Ratios do not include fees paid indirectly (See Expenses in the accompanying Notes to Financial Statements).
(d)	Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between the classes of shares issued.
(e)	Not annualized.
(f)	Annualized.
(g)	Commenced operations on November 28, 2007.
(h)	Commenced operations on November 28, 2007.
(i)	Commenced operations on November 28, 2007.
(j)	Commenced operations on November 28, 2007.
(k)	Commenced operations on November 28, 2007.
(l)	Commenced operations on November 28, 2007.
(m)	Commenced operations on November 28, 2007.
(n)	Commenced operations on November 28, 2007.

24

The Hartford Global Enhanced Dividend Fund

Directors and Officers (Unaudited)

The Board of Directors appoints officers who are responsible for the day-to-day operations of the Fund and who execute policies formulated by the Directors. Each director serves until his or her death, resignation, or retirement or until the next annual meeting of shareholders is held or until his or her successor is elected and qualifies.

Directors and officers who are employed by or who have a financial interest in The Hartford are considered “interested” persons of the Fund pursuant to the Investment Company Act of 1940, as amended. Each officer and three of the Fund’s directors, as noted in the chart below, are “interested” persons of the Fund. Each director serves as a director for The Hartford Mutual Funds, Inc., The Hartford Mutual Funds II, Inc., The Hartford Income Shares Fund, Inc., Hartford Series Fund, Inc., and Hartford HLS Series Fund II, Inc., which collectively consist of 100 funds. Correspondence may be sent to directors and officers c/o Hartford Mutual Funds, P.O. Box 2999, Hartford, Connecticut 06104-2999, except that correspondence to Ms. Fagely may be sent to 500 Bielenberg Drive, Woodbury, Minnesota 55125.

The table below sets forth, for each director and officer, his or her name, year of birth, current position with the Fund and date first elected or appointed to The Hartford Mutual Funds, Inc. (“MF”) and The Hartford Mutual Funds II, Inc. (“MF2”), principal occupation, and, for directors, other directorships held. The Fund’s statement of additional information contains further information on the directors and is available free of charge by calling 1-888-843-7824 or writing to Hartford Mutual Funds, P.O. Box 64387, St. Paul, MN 55164-0387.

Information on the aggregate remuneration paid to the directors of the Fund can be found in the Statement of Operations herein. The Fund pays a portion of the Chief Compliance Officer’s compensation, but does not pay salaries or compensation to any of its officers or directors who are employed by The Hartford.

Non-Interested Directors

Lynn S. Birdsong (1946) Director since 2003, Co-Chairman of the Investment Committee

Mr. Birdsong is a private investor. Since 1981, Mr. Birdsong has been a partner in Birdsong Company, an advertising specialty firm. Since 2003, Mr. Birdsong has been an independent director of The Japan Fund. From 2003 to March 2005, Mr. Birdsong was an independent director of the Atlantic Whitehall Funds. From 1979 to 2002, Mr. Birdsong was a managing director of Zurich Scudder Investments, an investment management firm. During his employment with Scudder, Mr. Birdsong was an interested director of The Japan Fund.

Robert M. Gavin, Jr. (1940) Director since 2002 (MF) and 1986 (MF2), Chairman of the Board since 2004

Dr. Gavin is an educational consultant. Prior to September 1, 2001, he was President of Cranbrook Education Community and prior to July 1996, he was President of Macalester College, St. Paul, Minnesota.

Duane E. Hill (1945) Director since 2001 (MF) and 2002 (MF2), Chairman of the Nominating Committee

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

Sandra S. Jaffee (1941) Director since 2005

Ms. Jaffee is Chairman and Chief Executive Officer of Fortent (formerly Searchspace Group), a leading provider of compliance/regulatory technology to financial institutions. Ms. Jaffee served as an Entrepreneur in Residence with Warburg Pincus, a private equity firm, from August 2004 to August 2005. From September 1995 to July 2004, Ms. Jaffee served as Executive Vice President at Citigroup, where she was President and Chief Executive Officer of Citibank’s Global Securities Services (1995-2003).

William P. Johnston (1944) Director since 2005, Chairman of the Compliance Committee

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

25

The Hartford Global Enhanced Dividend Fund

Directors and Officers (Unaudited) — (continued)

Phillip O. Peterson (1944) Director since 2002 (MF) and 2000 (MF2), Chairman of the Audit Committee

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

Lemma W. Senbet (1946) Director since 2005

Dr. Senbet is the William E. Mayer Chair Professor of Finance at the University of Maryland, Robert H. Smith School of Business. He was chair of the Finance Department during 1998-2006. Previously he was an endowed professor of finance at the University of Wisconsin-Madison. Also, he was director of the Fortis Funds from March 2000-July 2002. Dr. Senbet served the finance profession in various capacities, including as director of the American Finance Association and President of the Western Finance Association. In 2006, Dr. Senbet was inducted Fellow of Financial Management Association International for his career-long distinguished scholarship and professional service.

Interested Directors and Officers

Thomas M. Marra* (1958) Director since 2002

Mr. Marra has served as President and Chief Operating Officer of The Hartford Financial Services Group, Inc. (“The Hartford”) since 2007. Mr. Marra currently serves as Director of Hartford Life, Inc. (“HL, Inc.”). Mr. Marra served as Chief Operating Officer of Hartford Life Insurance Company, Inc. (“Hartford Life”) (2000-2008), as President of Hartford Life (2002-2008) and as Director of Hartford Life’s Investment Products Division from 1998 to 2000.

* On February 24, 2009, The Hartford and Mr. Marra determined to enter into a mutually agreed separation whereby Mr. Marra will retire, and his role as an executive officer and employee of The Hartford will terminate, effective July 3, 2009. Mr. Marra will resign his position as a Director of the Fund effective June 25, 2009.

Lowndes A. Smith (1939) Director since 2002, Co-Chairman of the Investment Committee

Mr. Smith served as Vice Chairman of The Hartford from February 1997 to January 2002, as President and Chief Executive Officer of Hartford Life, Inc. from February 1997 to January 2002, and as President and Chief Operating Officer of The Hartford Life Insurance Companies from January 1989 to January 2002. Mr. Smith serves as a Director of White Mountains Insurance Group, Ltd., One Beacon Insurance, Symetra Financial and as a Managing Director of Whittington Gray Associates.

John C. Walters* (1962) Director since 2008

Mr. Walters currently serves as Chief Executive Officer, President and Director of HL, Inc. Mr. Walters previously served as President of the U.S. Wealth Management Division of Hartford Life, Inc., as Co-Chief Operating Officer of Hartford Life Insurance Company (2007-2008) and as Executive Vice President and Director of its Investment Products Division (2000-2008). Mr. Walters also serves as Chairman of the Board, Chief Executive Officer, President and Director of Hartford Life Insurance Company and as Executive Vice President of The Hartford. In addition, Mr. Walters is Manager of HL Investment Advisors, LLC (“HL Advisors”).

* Mr. Walters previously served as President and Chief Executive Officer of the Fund (2007 — 2009).

Other Officers

Robert M. Arena, Jr. (1968) President and Chief Executive Officer since 2009 (served as Vice President of the Fund (2006 — 2009))

Mr. Arena serves as Executive Vice President of Hartford Life Insurance Company, (“Hartford Life”). Additionally, Mr. Arena is Director and Senior Vice President of Hartford Administrative Services Company, (“HASCO”), Manager, Chief Executive Officer and President of Hartford Investment Financial Services, LLC (“HIFSCO”) and HL Advisors. Prior to joining The Hartford in 2004, he was Senior Vice President in charge of Product Management for American Skandia/Prudential in the individual annuities division. Mr. Arena joined American Skandia in 1996.

Tamara L. Fagely (1958) Vice President, Treasurer and Controller since 2002 (MF) 1993 (MF2)

Ms. Fagely has been a Vice President of HASCO since 1998 and Chief Financial Officer since 2006. Currently Ms. Fagely is a Vice President of Hartford Life. She served as Assistant Vice President of Hartford Life from December 2001 through March 2005. In addition, Ms. Fagely is Controller and Chief Financial Officer of HIFSCO.

Brian Ferrell (1962) AML Compliance Officer since 2008

Mr. Ferrell has served as Assistant Vice President and AML Compliance Officer for The Hartford since 2006 and as AML Compliance Officer for HASCO and Hartford Investor Services Company, LLC (“HISC”) since 2008. Prior to joining The Hartford in 2006, Mr. Ferrell held various positions at the U.S. Department of the Treasury, (the “Treasury”), from 2001 to 2006 where he served as Chief Counsel for the Treasury’s Financial Crimes Enforcement Network, (“FinCEN”) from 2005 — 2006.

26

Thomas D. Jones, III (1965) Vice President and Chief Compliance Officer since 2006

Mr. Jones serves as Chief Compliance Officer for the Hartford Mutual Funds and Vice President and Director of Securities Compliance for The Hartford. He is also Vice President of HIFSCO, HL Advisors, and Hartford Life Insurance Company. Mr. Jones joined The Hartford in 2006 from SEI Investments, where he served as Chief Compliance Officer for its mutual funds and investment advisers. Prior to joining SEI, Mr. Jones was First Vice President and Compliance Director for Merrill Lynch Investment Managers (Americas) (“MLIM”), where he worked from 1992-2004. At MLIM, Mr. Jones was responsible for the compliance oversight of various investment products, including mutual funds, wrap accounts, institutional accounts and alternative investments.

Edward P. Macdonald (1967) Vice President, Secretary and Chief Legal Officer since 2005

Mr. Macdonald serves as Assistant General Counsel and Assistant Vice President of The Hartford and Chief Legal Officer and Vice President of HIFSCO. He also serves as Vice President and Secretary of HASCO, Assistant Vice President of Hartford Life, and Chief Legal Officer, Secretary and Vice President of HL Advisors. Prior to joining The Hartford in 2005, Mr. Macdonald was Chief Counsel, Investment Management for Prudential Financial (formerly American Skandia Investment Services, Inc.). He joined Prudential in April 1999.

Vernon J. Meyer (1964) Vice President since 2006

Mr. Meyer serves as Senior Vice President of Hartford Life and as Director of its Investment Advisory Group in the Individual Markets Group segment. He also serves as Senior Vice President of HIFSCO and HL Advisors. Prior to joining The Hartford in 2004, Mr. Meyer was with MassMutual which he joined in 1987.

D. Keith Sloane (1960) Vice President since 2009

Mr. Sloane is a Senior Vice President of Hartford Life where he serves as Director of mutual fund product management for The Hartford’s mutual funds and 529 college savings businesses. Additionally, Mr. Sloane currently serves as Senior Vice President of HIFSCO, HL Advisors, and HASCO. Prior to joining The Hartford in 2007, Mr. Sloane was Director of product marketing and led the mutual fund business for Wachovia Securities (“Wachovia”) in their investment products group. Mr. Sloane joined Wachovia in 1995.

Jane Wolak (1961) Vice President since 2009

Ms. Wolak currently serves as Vice President of Hartford Life. Ms. Wolak joined Hartford Life as Vice President, Retail Product Services in May 2007. She is also Vice President of HASCO. Previously, Ms. Wolak was with Sun Life Financial where she held the position of Vice President, Service Center Operations from 2001 — 2007.

HOW TO OBTAIN A COPY OF THE FUND’S PROXY VOTING POLICIES AND VOTING RECORDS

A description of the policies and procedures that the Fund uses to determine how to vote proxies relating to portfolio securities and a record of how the Fund voted any proxies for the twelve-month period ended June 30, 2008 is available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov.

QUARTERLY PORTFOLIO HOLDINGS INFORMATION

The Fund files a complete schedule of portfolio holdings with the Commission for the first and third quarters of each fiscal year on Form N-Q. The Fund’s Forms are available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov. The Form N-Q may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330.

27

The Hartford Global Enhanced Dividend Fund

Expense Example (Unaudited)

Your Fund’s Expenses

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments and contingent deferred sales charges (CDSC) (2) ongoing costs including management fees; distribution fees; and other fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the period of October 31, 2008 through April 30, 2009.

Actual Expenses

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

Hypothetical Example for Comparison Purposes

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

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads) and CDSC. Therefore, the second line 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 are equal to the Fund’s annualized expense ratios multiplied by average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

	Actual return						Hypothetical (5% return before expenses)
					Expenses paid						Expenses paid					Days in
					during the period						during the period					the		Days
	Beginning		Ending Account		October 31, 2008		Beginning		Ending Account		October 31,		Annualized			current		in the
	Account Value		Value		through		Account Value		Value		2008 through		expense			1/2		full
	October 31, 2008		April 30, 2009		April 30, 2009		October 31, 2008		April 30, 2009		April 30, 2009		ratio			year		year
Class A	$	1,000.00	$	851.51	$	5.37	$	1,000.00	$	1,018.99	$	5.86		1.17	%		181		365
Class B	$	1,000.00	$	849.73	$	8.81	$	1,000.00	$	1,015.27	$	9.59		1.92			181		365
Class C	$	1,000.00	$	849.73	$	8.81	$	1,000.00	$	1,015.27	$	9.59		1.92			181		365
Class I	$	1,000.00	$	854.19	$	4.23	$	1,000.00	$	1,020.23	$	4.61		0.92			181		365
Class R3	$	1,000.00	$	849.56	$	7.43	$	1,000.00	$	1,016.76	$	8.10		1.62			181		365
Class R4	$	1,000.00	$	850.84	$	6.06	$	1,000.00	$	1,018.25	$	6.61		1.32			181		365
Class R5	$	1,000.00	$	852.13	$	4.68	$	1,000.00	$	1,019.74	$	5.11		1.02			181		365
Class Y	$	1,000.00	$	854.19	$	4.23	$	1,000.00	$	1,020.23	$	4.61		0.92			181		365

28

The Hartford Global Equity Fund

Table of Contents

Manager Discussions (Unaudited)	2
Financial Statements
Schedule of Investments at April 30, 2009 (Unaudited)	4
Statement of Assets and Liabilities at April 30, 2009 (Unaudited)	11
Statement of Operations for the Six Month Period Ended April 30, 2009 (Unaudited)	12
Statement of Changes in Net Assets for the Six Month Period Ended April 30, 2009 (Unaudited) and the Year Ended October 31, 2008	13
Notes to Financial Statements (Unaudited)	14
Financial Highlights (Unaudited)	26
Directors and Officers (Unaudited)	27
How to Obtain a Copy of the Fund’s Proxy Voting Policies and Proxy Voting Records (Unaudited)	29
Quarterly Portfolio Holdings Information (Unaudited)	29
Expense Example (Unaudited)	30

The Hartford Global Equity Fund

(subadvised by Wellington Management Company, LLP)

Performance Overview(1) 2/29/08 — 4/30/09
Growth of a $10,000 investment in Class A which includes Sales Charge

MSCI All Country World Index is a free float-adjusted market capitalization index that is designed to measure equity market performance in the global emerging markets, consisting of 25 emerging market country indices.

You cannot invest directly in an index.

The value of shares will fluctuate so that, when redeemed, shares may be worth more or less than their original cost. The chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.

Investment objective — Seeks long-term capital appreciation.

Average Annual Total Returns(2,3) (as of 4/30/09)

	Inception		1			Since
	Date		Year			Inception
Global Equity A#		2/29/08		-37.69	%		-31.56	%
Global Equity A##		2/29/08		-41.11	%		-34.80	%
Global Equity B#		2/29/08		-38.17	%		-32.07	%
Global Equity B##		2/29/08		-41.25	%		-34.40	%
Global Equity C#		2/29/08		-38.17	%		-32.07	%
Global Equity C##		2/29/08		-38.78	%		-32.07	%
Global Equity I#		2/29/08		-37.57	%		-31.39	%
Global Equity R3#		2/29/08		-37.94	%		-31.80	%
Global Equity R4#		2/29/08		-37.76	%		-31.62	%
Global Equity R5#		2/29/08		-37.57	%		-31.44	%
Global Equity Y#		2/29/08		-37.55	%		-31.37	%

#	Without sales charge
##	With sales charge

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)	Growth of a $10,000 investment in Classes B, C, I, R3, R4, R5 and Y shares will vary from results seen above due to differences in the expenses charged to these share classes.
(2)	The initial investment in Class A shares reflects the maximum sales charge and Classes B and C reflect CDSC.
(3)	Total returns presented above were calculated using the Fund’s net asset value available to shareholders for sale or redemption of Fund shares on April 30, 2009, which excludes investment transactions as of this date.

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

Portfolio Managers
Cheryl M. Duckworth, CFA	Mark D. Mandel, CFA
Senior Vice President	Senior Vice President

How did the Fund perform?

The Class A shares of The Hartford Global Equity Fund returned -1.82%, before sales charge, for the six-month period ended April 30, 2009, outperforming its benchmark, the MSCI All Country World Index, which returned -3.00% for the same period. The Fund also outperformed the -3.36% return of the average fund in the Lipper Global 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?

Broad U.S. equity markets fell during the period, but this overall decline masks two significantly different market environments. From the beginning of November through early March stocks fell sharply, reflecting deepening economic worries and concerns over the U.S. government’s increasing involvement in the economy. From early March through the end of April stocks rallied as investors came to believe that a Depression-like scenario was less likely. In this environment, sector returns within the MSCI All Country World Index diverged widely for the six-month period ending April 30. Weakness in Financials (-11%), Health Care (-10%), and Utilities (-8%) overshadowed relative strength in Materials (+11%), Information Technology (+7%), and Consumer Discretionary (+4%).

The Fund’s outperformance versus the benchmark was driven by security selection, which was most favorable in Health Care, Consumer Discretionary, and Financials. Offsetting this was weaker stock selection within the Industrials, Utilites, and Telecommunication Services sectors. Sector allocation was modestly additive due to our underweight (i.e. the Fund’s sector position was less than the benchmark position) exposures to the Financials, Consumer Staples, and Utilities sectors.

Top contributors to relative (i.e. performance of the Fund as measured against the benchmark) performance during the period included Schering Plough (Health Care), Vale (Materials), and DnB NOR (Financials). Schering-Plough’s share price jumped after receiving a takeover offer by Merck. Diversified Brazilian metals and mining company Vale benefited from a rebound in Brazilian iron-exports to China and optimism that recent government stimulus announcements will further boost global demand. Investors’ belief in the relative strength of DnB NOR, a Norway-based financial services company, led shares higher. Goldman Sachs

2

(Financials) was a top contributor to absolute (i.e. total return) performance.

The largest detractors from relative returns were Japan Tobacco (Consumer Discretionary), ACE (Financials), and Popular (Financials). Shares of cigarette and tobacco products company Japan Tobacco fell on pressure from declining domestic tobacco sales volumes and the negative impact from a strong Japanese yen. We eliminated our position during the period. Shares of worldwide property/casualty insurance and reinsurance provider ACE fell on concerns about the impact of various government programs and falling book value. Popular, a diversified U.S. financial services company targeting the Hispanic market, reduced its dividend by 75 percent, causing shares to decline significantly. Capital One (Financials) was among the top detractors from absolute performance as the company announced disappointing quarterly results and forecast higher losses in 2009.

What is the outlook?

It is increasingly clear that the U.S. is in a deep recession, notwithstanding the recent stock market rally. Unemployment is rising sharply, the housing slowdown continues, and the consumer spending is contracting. The government is reshaping the financial playing field through actions ranging from stimulus packages to massive loans to impaired private sector companies, all taken with an eye towards thawing frozen credit markets and expanding purchasing power. These moves will help mitigate some of the negative economic pressures, and while the outlook remains uncertain, markets have begun to anticipate a recovery.

In this environment, the Fund ended the period most overweight (i.e. the Fund’s sector position was greater than the benchmark position) the Health Care, Energy, and Materials sectors and most underweight the Consumer Staples, Industrials, and Telecommunication Services sectors. The Fund’s largest absolute weightings were in the Financials and Energy sectors.

At a meeting held on February 4, 2009, the Board of Directors of The Hartford Mutual Funds, Inc. approved the reorganizations (each, a “Reorganization”) of The Hartford Global Communications Fund, The Hartford Global Financial Services Fund and The Hartford Global Technology Fund (each, an “Acquired Fund”) with and into The Hartford Global Equity Fund (the “Acquiring Fund”).

The Board of Directors has called for a Special Meeting of Shareholders of each Acquired Fund (the “Meeting”) to be held on or about August 4, 2009, for the purpose of seeking the approval of an Agreement and Plan of Reorganization (“Reorganization Agreement”) by the shareholders of the respective Acquired Fund.

Diversification by Industry
as of April 30, 2009

	Percentage of
Industry	Net Assets
Automobiles & Components		1.8	%
Banks		9.2
Basic Materials		0.1
Capital Goods		5.2
Consumer Durables & Apparel		0.5
Consumer Services		0.7
Diversified Financials		4.4
Energy		11.9
Food & Staples Retailing		0.8
Food, Beverage & Tobacco		6.7
Health Care Equipment & Services		3.9
Household & Personal Products		0.1
Insurance		2.9
Materials		7.3
Media		1.6
Pharmaceuticals, Biotechnology & Life Sciences		9.7
Real Estate		1.7
Retailing		4.6
Semiconductors & Semiconductor Equipment		0.9
Software & Services		5.2
Technology Hardware & Equipment		5.4
Telecommunication Services		4.2
Transportation		3.3
Utilities		4.5
Short-Term Investments		2.0
Other Assets and Liabilities		1.4
Total		100.0	%

Diversification by Country
as of April 30, 2009

	Percentage of
Country	Net Assets
Australia		0.6	%
Austria		0.5
Belgium		0.5
Bermuda		0.1
Brazil		3.1
Canada		4.8
China		1.6
Denmark		1.0
France		3.3
Germany		2.7
Hong Kong		1.2
India		0.5
Indonesia		0.1
Ireland		0.6
Israel		1.0
Italy		1.2
Japan		3.7
Luxembourg		0.7
Malaysia		0.4
Netherlands		0.2
Norway		1.0
Panama		0.1
Russia		1.2
Singapore		0.5
South Africa		0.4
South Korea		0.4
Spain		0.8
Sweden		1.1
Switzerland		3.2
Taiwan		0.5
Thailand		0.4
Turkey		0.4
United Kingdom		8.6
United States		50.2
Short-Term Investments		2.0
Other Assets and Liabilities		1.4
Total		100.0	%

3

The Hartford Global Equity Fund

Schedule of Investments

April 30, 2009 (Unaudited)
(000’s Omitted)

Shares or Principal Amount			Market Value ╪
COMMON STOCKS - 95.5%
		Automobiles & Components - 1.8%
	—	Daimler AG	$	14
	6	Ford Motor Co. •		38
	4	Honda Motor Co., Ltd.		125
	—	Johnson Controls, Inc.		8
	1	Michelin (C.G.D.E.) Class B		45
	1	Peugeot S.A.		22
				252
		Banks - 8.6%
	8	Banco do Estado do Rio Grande do Sul S.A.		26
	1	Banco Latinoamericano de Exportaciones S.A. ADR Class E		14
	24	Bangkok Bank plc		59
	3	Bank of Nova Scotia		92
	—	BNP Paribas		14
	13	Citizens Republic Bancorp, Inc.		22
	10	DBS Group Holdings Ltd.		64
	21	DNB Nor ASA		131
	—	First Citizens Bancshares Class A		14
	4	First National Financial, Inc.		38
	—	Gronlandsbanken		22
	—	HDFC Bank Ltd. ADR		33
	6	HSBC Holding plc		46
	7	Intesa Sanpaolo		23
	7	Itau Unibanco Banco Multiplo S.A. ADR		91
	4	Mitsubishi UFJ Financial Group, Inc.		23
	6	Nordea Bank AB		48
	3	Oversea-Chinese Banking Corp., Ltd.		12
	—	PNC Financial Services Group, Inc.		7
	7	Popular, Inc.		20
	—	Ringkjoebing Landbobank		16
	1	Societe Generale Class A		34
	4	Sparebanken Midt-Norge		16
	7	Standard Chartered plc		111
	2	Sydbank A/S		39
	1	Toronto-Dominion Bank		55
	2	Toronto-Dominion Bank ADR		65
	2	Webster Financial Corp.		10
	4	Wells Fargo & Co.		88
				1,233
		Basic Materials - 0.1%
	—	Rio Tinto plc ADR		14
		Capital Goods - 5.2%
	—	Alstom RGPT		9
	—	AMETEK, Inc.		9
	3	BAE Systems plc		16
	—	Carlisle Cos., Inc.		3
	1	Danaher Corp.		43
	—	Deere & Co.		10
	—	Flowserve Corp		3
	11	General Electric Co.		138
	7	Hino Motors Ltd.		22
	1	Hochtief AG		25
	1	Honeywell International, Inc.		36
	1	Illinois Tool Works, Inc.		33
	—	Ingersoll-Rand Co. Class A		11
	1	Lockheed Martin Corp.		84
	1	Parker-Hannifin Corp.		28
	1	Pentair, Inc.		26
	—	Precision Castparts Corp.		21
	—	Raytheon Co.		21
	1	Rockwell Automation, Inc.		16
	3	Rolls-Royce Group plc		14
	234	Rolls-Royce Group-C Share Entitlement ⌂†		—
	1	Siemens AG		67
	—	SPX Corp.		1
	1	Teledyne Technologies, Inc. •		25
	1	United Technologies Corp.		64
	—	Vinci S.A.		17
	2	Volvo Ab Class B		12
				754
		Commercial & Professional Services - 0.0%
	—	Manpower, Inc.		4
		Consumer Durables & Apparel - 0.5%
	36	Anta Sports Products Ltd.		30
	55	China Dongxiang Group Co.		27
	16	Peace Mark Holdings Ltd. ⌂†		—
	7	Ports Design Ltd.		11
				68
		Consumer Services - 0.7%
	—	DineEquity, Inc.		10
	104	NagaCorp Ltd.		10
	7	Shangri-La Asia Ltd.		10
	8	Thomas Cook Group plc		31
	1	WMS Industries, Inc. •		33
				94
		Diversified Financials - 4.2%
	1	African Bank Investments Ltd.		4
	3	Ameriprise Financial, Inc.		72
	2	Bank of America Corp.		20
	4	BM & F Bovespa S.A.		17
	2	Deutsche Boerse AG		113
	6	Discover Financial Services, Inc.		50
	1	Goldman Sachs Group, Inc.		122
	—	Groupe Bruxelles Lambert S.A.		10
	1	Invesco Ltd.		12
	2	Julius Baer Holding Ltd.		66
	—	Moody’s Corp.		4
	1	MSCI, Inc. •		15
	3	Nasdaq OMX Group, Inc. •		61
	2	UBS AG •		29
				595
		Energy - 11.9%
	1	Baker Hughes, Inc.		28
	7	BG Group plc		109
	9	BP plc		62
	2	BP plc ADR		83
	1	Cabot Oil & Gas Corp.		17
	3	Canadian Natural Resources Ltd. ADR		123
	1	Canadian Oil SandsTrust		18
	1	Chesapeake Energy Corp.		12
	1	Chevron Corp.		40
	66	China Shenhua Energy Co., Ltd.		183
	—	ConocoPhillips Holding Co.		20
	—	Consol Energy, Inc.		13
	1	Devon Energy Corp.		74
	—	Enbridge Energy Management •		15
	1	EnCana Corp. ADR		26
	—	Eni S.p.A. ADR		19

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

4

Shares or Principal Amount			Market Value ╪
COMMON STOCKS - 95.5% — (continued)
		Energy - 11.9% — (continued)
	2	EOG Resources, Inc.	$	103
	1	Exxon Mobil Corp.		68
	1	Halliburton Co.		26
	—	Hess Corp.		15
	—	Husky Energy, Inc.		9
	10	Lundin Petroleum Ab •		65
	1	Marathon Oil Corp.		17
	—	Newfield Exploration Co. •		6
	1	Noble Energy, Inc.		56
	6	OAO Gazprom Class S ADR		101
	1	Occidental Petroleum Corp.		37
	2	OMV AG		75
	—	Peabody Energy Corp.		9
	—	Petro-Canada		13
	1	Petroleo Brasileiro S.A. ADR		29
	—	Reliance Industries GDR §		14
	1	Royal Dutch Shell plc ADR		23
	1	Schlumberger Ltd.		37
	1	Suncor Energy, Inc. ADR		25
	1	Talisman Energy, Inc.		7
	1	Total S.A. ADR		39
	—	Transocean, Inc. •		11
	—	Ultra Petroleum Corp. •		4
	—	Valero Energy Corp.		9
	2	Weatherford International Ltd.		33
	1	Williams Cos., Inc.		13
	—	Woodside Petroleum Ltd.		13
	—	XTO Energy, Inc.		7
				1,706
		Food & Staples Retailing - 0.8%
	5	Tesco plc		23
	1	Walgreen Co.		17
	1	Wal-Mart Stores, Inc.		75
				115
		Food, Beverage & Tobacco - 6.7%
	2	Altria Group, Inc.		41
	5	British American Tobacco plc		127
	1	Carlsberg A/S Class B		54
	6	China Mengniu Dairy Co.		10
	1	Coca-Cola Enterprises, Inc.		21
	16	Cott Corp.		33
	—	General Mills, Inc.		8
	—	Groupe Danone ⌂		16
	—	Hain Celestial Group, Inc. •		5
	—	Hormel Foods Corp.		6
	4	Imperial Tobacco Group plc		100
	2	Kellogg Co.		84
	—	Lorillard, Inc.		6
	13	Marine Harvest •		6
	—	Molson Coors Brewing Co.		9
	5	Nestle S.A.		179
	3	Pepsi Bottling Group, Inc.		85
	2	Philip Morris International, Inc.		77
	22	Premier Foods plc		12
	—	Ralcorp Holdings, Inc. •		26
	1	Smithfield Foods, Inc. •		8
	2	Swedish Match Ab		25
	1	Tyson Foods, Inc. Class A		7
	1	Unilever N.V. CVA		25
				970
		Health Care Equipment & Services - 3.9%
	—	Amerisource Bergen Corp.		10
	1	Baxter International, Inc.		71
	—	Beckman Coulter, Inc.		21
	—	Cardinal Health, Inc.		14
	—	Community Health Systems, Inc. •		9
	1	Coventry Health Care, Inc. •		15
	2	Covidien Ltd.		64
	—	Eclipsys Corp. •		5
	2	Health Management Associates, Inc. Class A •		7
	2	Hospira, Inc. •		53
	—	Humana, Inc. •		14
	3	Medtronic, Inc.		103
	2	SSL International plc		11
	1	St. Jude Medical, Inc. •		27
	—	Synthes, Inc.		29
	5	UnitedHealth Group, Inc.		119
				572
		Household & Personal Products - 0.1%
	—	Herbalife Ltd.		4
	—	Reckitt Benckiser Group plc		10
				14
		Insurance - - 2.9%
	3	ACE Ltd.		131
	1	Aflac, Inc.		18
	1	Everest Re Group Ltd.		54
	2	Hilltop Holdings, Inc. •		25
	4	Lancashire Holdings Ltd. •		25
	1	Marsh & McLennan Cos., Inc.		21
	1	Paris RE Holdings Ltd.		24
	—	Transatlantic Holdings, Inc.		4
	1	Travelers Cos., Inc.		45
	2	Unum Group		25
	—	Zurich Financial Services AG		40
				412
		Materials - - 7.3%
	—	Agnico Eagle Mines Ltd.		13
	—	Agrium, Inc.		7
	—	Air Products and Chemicals, Inc.		23
	1	Albemarle Corp.		19
	2	Aquarius Platinum Ltd.		9
	1	ArcelorMittal ADR		16
	—	Barrick Gold Corp.		11
	1	BASF SE		25
	1	BHP Billiton Ltd. ADR		37
	1	BHP Billiton plc		27
	2	Celanese Corp.		37
	1	Cliff’s Natural Resources, Inc.		18
	8	Companhia Vale do Rio Doce ADR		127
	2	CRH plc		42
	1	Croda International plc		5
	1	FMC Corp.		62
	—	Freeport-McMoRan Copper & Gold, Inc.		9
	85	Huabao International Holdings Ltd.		60
	—	Monsanto Co.		26
	1	Mosaic Co.		55
	—	Newmont Mining Corp.		10
	—	Potash Corp. of Saskatchewan, Inc.		43
	1	Potash Corp. of Saskatchewan, Inc. ADR		43
	1	Praxair, Inc.		42

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

5

The Hartford Global Equity Fund

Schedule of Investments — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

Shares or Principal Amount			Market Value ╪
COMMON STOCKS - 95.5% — (continued)
		Materials - 7.3% — (continued)
	5	Rexam plc	$	21
	5	Rhodia S.A.		27
	1	Rio Tinto Ltd.		28
	2	Rio Tinto plc		74
	1	Shin-Etsu Chemical Co., Ltd.		57
	1	Umicore		26
	2	Vedanta Resources plc		34
	1	Xstrata plc		12
				1,045
		Media - 1.6%
	—	Arbitron, Inc.		3
	—	CBS Corp. Class B		3
	1	Comcast Corp. Class A		18
	—	Comcast Corp. Special Class A		4
	—	DirecTV Group, Inc. •		6
	—	Discovery Communications, Inc. •		2
	—	DreamWorks Animation SKG, Inc. •		8
	—	Elsevier N.V.		3
	2	Informa Group plc		9
	—	Marvel Entertainment, Inc. •		2
	1	McGraw-Hill Cos., Inc.		32
	4	Reed Elsevier Capital, Inc. ⌂		33
	—	Scripps Networks Interactive Class A		2
	2	SES Global S.A.		40
	—	Time Warner Cable, Inc.		9
	1	Time Warner, Inc.		12
	—	Viacom, Inc. Class B •		2
	—	Vivendi S.A.		13
	1	Walt Disney Co.		15
	1	WPP plc		9
				225
		Pharmaceuticals, Biotechnology & Life Sciences - 9.7%
	—	Abbott Laboratories		15
	1	Amgen, Inc. •		50
	1	Amylin Pharmaceuticals, Inc. •		15
	1	Astellas Pharma, Inc.		29
	1	AstraZeneca plc		36
	1	AstraZeneca plc ADR		38
	—	Cephalon, Inc. •		23
	3	Daiichi Sankyo Co., Ltd.		51
	3	Eisai Co., Ltd.		93
	6	Elan Corp. plc ADR •		33
	3	Eli Lilly & Co.		83
	1	Forest Laboratories, Inc. •		30
	—	Genzyme Corp. •		24
	1	Gilead Sciences, Inc. •		40
	—	H. Lundbeck A/S		6
	—	Ipsen		13
	—	Johnson & Johnson		23
	1	Laboratorios Almiral S.A.		6
	1	Medicines Co. •		7
	1	Merck & Co., Inc.		29
	—	OSI Pharmaceuticals, Inc. •		10
	1	PAREXEL International Corp. •		6
	8	Pfizer, Inc.		100
	1	Regeneron Pharmaceuticals, Inc. •		9
	—	Roche Holding AG		54
	1	Sanofi-Aventis S.A.		39
	1	Sanofi-Aventis S.A. ADR		41
	8	Schering-Plough Corp.		186
	3	Shionogi & Co., Ltd.		47
	3	Teva Pharmaceutical Industries Ltd. ADR		136
	1	UCB S.A.		30
	1	Vertex Pharmaceuticals, Inc. •		16
	2	Wyeth		82
				1,400
		Real Estate - 1.7%
	—	AMB Property Corp.		9
	—	Boston Properties, Inc.		3
	7	Brasil Brokers Participacoes •		8
	—	Brookfield Asset Management, Inc.		5
	2	China Resources Land Ltd.		3
	6	DB Rreef Trust		3
	2	Diamondrock Hospitality		14
	—	Douglas Emmett, Inc.		2
	—	Equity Residential Properties Trust		1
	—	Forest City Enterprises, Inc. Class A		1
	2	Host Hotels & Resorts, Inc.		14
	1	Kerry Properties Ltd.		1
	3	Kimco Realty Corp.		32
	1	Link Reit		2
	4	Mitsubishi Estate Co., Ltd.		52
	—	Public Storage		7
	—	Regency Centers Corp.		6
	—	RioCan Real Estate Investment Trust		3
	—	Simon Property Group, Inc.		5
	2	Sino-Ocean Land Holdings Ltd.		2
	—	Spazio Investment N.V.		—
	—	Sun Hung Kai Properties Ltd.		3
	—	Unibail		45
	—	Vornado Realty Trust		20
	—	Westfield Group		3
				244
		Retailing - 4.6%
	—	Advance Automotive Parts, Inc.		12
	2	American Eagle Outfitters, Inc.		25
	—	AutoZone, Inc. •		57
	2	Best Buy Co., Inc.		84
	6	Gap, Inc.		87
	2	Home Depot, Inc.		58
	1	Hot Topic, Inc. •		14
	6	Kingfisher plc		16
	1	Kohl’s Corp. •		40
	—	Lotte Shopping Co. •		24
	10	Marks & Spencer Group plc		47
	—	Next plc		7
	1	Pinault-Printemps-Redoute S.A.		41
	1	Ross Stores, Inc.		21
	—	Sherwin-Williams Co.		11
	4	Staples, Inc.		78
	1	Target Corp.		28
	1	TJX Cos., Inc.		16
				666
		Semiconductors & Semiconductor Equipment - 0.9%
	—	Atheros Communications, Inc. •		7
	1	Lam Research Corp. •		24
	1	Marvell Technology Group Ltd. •		10

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

6

Shares or Principal Amount			Market Value ╪
COMMON STOCKS - 95.5% - (continued)
		Semiconductors & Semiconductor Equipment - 0.9% - (continued)
	2	Maxim Integrated Products, Inc.	$	30
	2	ON Semiconductor Corp. •		9
	—	Samsung Electronics Co., Ltd.		37
	1	Texas Instruments, Inc.		12
				129
		Software & Services - 5.2%
	2	Accenture Ltd. Class A		60
	1	Adobe Systems, Inc. •		18
	—	Alliance Data Systems Corp. •		19
	1	Automatic Data Processing, Inc.		46
	1	BMC Software, Inc. •		18
	1	DST Systems, Inc. •		19
	3	Electronic Arts, Inc. •		57
	1	Equinix, Inc. •		39
	—	Google, Inc. •		35
	—	Mastercard, Inc.		2
	6	Microsoft Corp.		117
	—	Nintendo Co., Ltd.		3
	4	Oracle Corp. •		85
	—	Red Hat, Inc. •		8
	—	Shanda Interactive Entertainment Ltd. ADR •		9
	2	Symantec Corp. •		34
	1	Visa, Inc.		53
	6	Western Union Co.		103
	2	Yahoo!, Inc. •		22
				747
		Technology Hardware & Equipment - 5.4%
	1	Apple, Inc. •		118
	7	Cisco Systems, Inc. •		142
	5	Corning, Inc.		67
	1	Dell, Inc. •		14
	3	Hewlett-Packard Co.		117
	—	High Technology Computer Corp.		6
	3	Hon Hai Precision Industry Co., Ltd.		10
	8	Hon Hai Precision Industry Co., Ltd. GDR §		52
	—	International Business Machines Corp.		17
	5	Motorola, Inc.		29
	—	NetApp, Inc. •		6
	2	Qualcomm, Inc.		100
	1	Research In Motion Ltd. •		39
	4	Seagate Technology		34
	1	Western Digital Corp. •		28
	—	Yaskawa Electric Corp.		2
				781
		Telecommunication Services - 3.9%
	—	American Tower Corp. Class A •		14
	1	Brasil Telecom S.A. ADR		20
	—	Cellcom Israel Ltd.		7
	—	CenturyTel, Inc.		8
	1	China Mobile Ltd.		8
	2	Deutsche Telekom AG		23
	1	France Telecom S.A.		30
	1	Koninklijke (Royal) KPN N.V.		6
	1	Millicom International Cellular S.A.		48
	2	Mobile Telesystems OJSC ADR		74
	4	MTN Group Ltd.		51
	1	NII Holdings, Inc. Class B •		20
	1	P.T. Telekomunikasi Indonesia ADR		19
	1	Partner Communications Co., Ltd. ADR		18
	2	Qwest Communications International, Inc.		10
	1	Tele Norte Leste Participacoes S.A. ADR		11
	75	Telecom Italia S.p.A.		67
	1	Telefonica S.A.		23
	1	Telefonica S.A. ADR		35
	4	Turkcell Iletisim Hizmetleri AS ADR		54
	1	TW Telecom, Inc. •		12
	1	Vimpel-Communications ADR		8
				566
		Transportation - 3.3%
	2	Abertis Infraestructuras S.A.		30
	1	C.H. Robinson Worldwide, Inc.		50
	9	China Merchants Holdings International Co., Ltd.		20
	7	Covenant Transport •		13
	2	Delta Air Lines, Inc. •		10
	—	East Japan Railway Co.		6
	1	easyJet plc •		5
	1	Expeditors International of Washington, Inc.		21
	1	FedEx Corp.		34
	1	Forward Air Corp.		15
	2	Hub Group, Inc. •		41
	—	Iino Kaiun Kaisha Ltd.		1
	2	J.B. Hunt Transport Services, Inc.		59
	—	Japan Airport Terminal		2
	3	JetBlue Airways Corp. •		15
	1	Kuehne & Nagel International AG		57
	16	PLUS Expressways Berhad		15
	1	Ryanair Holdings plc ADR •		16
	—	Sumitomo Warehouse		1
	—	United Parcel Service, Inc. Class B		21
	2	US Airways Group, Inc. •		8
	9	YRC Worldwide, Inc. •		26
				466
		Utilities - 4.5%
	—	American Electric Power Co., Inc.		10
	—	CenterPoint Energy, Inc.		3
	1	CIA Saneamento Minas Gerais		8
	—	CMS Energy Corp.		3
	4	Companhia Energetica de Minas Gerais ADR		58
	—	DPL, Inc.		6
	3	E.On AG		95
	—	Electricite de France		6
	2	Eni S.p.A.		50
	—	EQT Corp.		14
	2	Exelon Corp.		89
	1	FirstEnergy Corp.		26
	—	FPL Group, Inc.		6
	1	Gaz de France		37
	1	International Power plc		5
	1	N.V. Energy, Inc.		8
	2	National Grid plc		17
	1	Northeast Utilities		17
	1	PG&E Corp.		23
	—	PPL Corp.		7
	—	Questar Corp.		11
	1	Red Electrica Corporacion S.A.		28
	1	Severn Trent plc		8
	2	Snam Rete Gas S.p.A — Rights		2
	2	Snam Rete Gas S.p.A.		9

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

7

The Hartford Global Equity Fund
Schedule of Investments — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

Shares or Principal Amount			Market Value ╪
COMMON STOCKS - 95.5% - (continued)
		Utilities - - 4.5% - (continued)
	—	Southern Co.	$	7
	13	Tenaga Nasional Bhd		27
	7	Tokyo Gas Co., Ltd.		28
	—	UniSource Energy Corp.		13
	—	Wisconsin Energy Corp.		6
	1	Xcel Energy, Inc.		14
	25	YTL Power International Berhad		14
				655
		Total common stocks (cost $16,059)	$	13,727
PREFERRED STOCKS - 0.3%
		Diversified Financials - 0.2%
	2	Banco Itau Holding	$	34
		Telecommunication Services - 0.1%
	1	Telemar Norte Leste S.A.		19
		Total preferred stocks (cost $77)	$	53
WARRANTS - 0.2%
		Energy 0.0%
	—	Deutsche — CW17 Oil & Natural Gas Corp. ⌂•	$	6
		Telecommunication Services 0.2%
	1	Citigroup Global Certificate — Bharti Televentures ⌂•		14
	—	JP Morgan International Derivative — Bharti Airtel Ltd. ⌂•		7
				21
		Total warrants (cost $31)	$	27
CORPORATE BONDS: INVESTMENT GRADE - 0.0%
		Finance - 0.0%
		Kimco Realty Corp.
	$      2	5.70%, 05/01/2017	$	1
		Simon Property Group L.P.
	1	6.13%, 05/30/2018		1
		Vornado Realty Trust
	1	2.85%, 04/01/2027 ۞		1
				3
		Total corporate bonds: investment grade (cost $3)	$	3
EXCHANGE TRADED FUNDS - 0.6%
		Banks - 0.6%
	1	iShares MSCI EAFE Index Fund		59
	1	SPDR S&P Retail ETF		24
				83
		Total exchange traded funds (cost $79)	$	83
		Total long-term investments (cost $16,249)	$	13,893
SHORT-TERM INVES TMENTS - 2.0%
		Repurchase Agreements - 2.0%
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $67, collateralized by GNMA 4.50% - 6.50%, 2038 - 2039, value of $68)
	$    67	0.18%, 04/30/2009	$	67
		BNP Paribas Securities Corp. TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $80, collateralized by FHLMC 4.50% - 6.50%, 2035 - 2039, FNMA 4.50% - 6.50%, 2034 - 2047, value of $82)
	80	0.17%, 04/30/2009		80
		Deutsche Bank Securities TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $112, collateralized by FHLMC 4.00% - 7.00%, 2021 - 2039, FNMA 6.00% - 7.00%, 2034 - 2038, GNMA 4.50% - 7.00%, 2024 - 2039, value of $114)
	112	0.17%, 04/30/2009		112
		UBS Securities, Inc. Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $-, collateralized by U.S. Treasury Bond 7.50%, 2024, value of $-)
	—	0.14%, 04/30/2009		—
		UBS Securities, Inc. TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $24, collateralized by FHLMC 8.00% - 15.00%, 2009 - 2021, FNMA 3.50% - 15.50%, 2012 - 2039, value of $25)
	24	0.16%, 04/30/2009		24
				283
		Total short-term investments (cost $283)	$	283

Total investments (cost $16,532)▲	98.6	%	$	14,176
Other assets and liabilities	1.4	%		199
Total net assets	100.0	%	$	14,375

Note:	Percentage of investments as shown is the ratio of the total market value to total net assets. Market value of investments in foreign securities represents 46.41% of total net assets at April 30, 2009.
	Foreign securities that are principally traded on certain foreign markets are adjusted daily pursuant to a third party pricing service methodology approved by the Board of Directors in order to reflect an adjustment for factors occurring after the close of the foreign market but before the close of the New York Stock Exchange.

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

8

▲ At April 30, 2009, the cost of securities for federal income tax purposes was $16,737 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	817
Unrealized Depreciation		(3,378	)
Net Unrealized Depreciation	$	(2,561	)

†	The aggregate value of securities valued in good faith at fair value as determined under policies and procedures established by and under the supervision of the Fund’s Board of Directors at April 30, 2009, was $0, which represents 0.00% of total net assets. This calculation excludes securities that are principally traded in certain foreign markets and whose prices were adjusted pursuant to a third party pricing service methodology approved by the Board of Directors.
•	Currently non-income producing.
■	Securities issued within terms of a private placement memorandum, exempt from registration under Rule 144A under the Securities Act of 1933, as amended, and may be sold only to qualified institutional buyers. Pursuant to guidelines adopted by the Board of Directors, these issues are determined to be liquid. The aggregate value of these securities at April 30, 2009, was $14, which represents 0.10% of total net assets.
§	Securities contain some restrictions as to public resale. These securities comply with Regulation S, rules governing offers and sales made outside the United States without registration under the Securities Act of 1933, and are determined to be liquid. At April 30, 2009, the market value of these securities amounted to $52 or 0.36% of total net assets.
۞	Convertible security.
⌂	The following securities are considered illiquid. Illiquid securities are often purchased in private placement transactions, are often not registered under the Securities Act of 1933 and may have contractual restrictions on resale. A security may also be considered illiquid if the security lacks a readily available market or if its valuation has not changed for a certain period of time.

Period		Shares/
Acquired		Par		Security	Cost Basis
	02/2008 - 01/2009		1	Citigroup Global Certificate — Bharti Televentures — 144A Warrants	$	18
	06/2008 - 07/2008		—	Deutsche — CW17 Oil & Natural Gas Corp. — 144A Warrants		7
	03/2009		—	Groupe Danone		16
	01/2009 - 03/2009		—	JP Morgan International Derivative — Bharti Airtel Ltd. — 144A Warrants		6
	02/2008 - 05/2008		16	Peace Mark Holdings Ltd.		16
	07/2008 - 04/2009		4	Reed Elsevier Capital, Inc.		34
	08/2008 - 02/2009		234	Rolls-Royce Group-C Share Entitlement		—

The aggregate value of these securities at April 30, 2009 was $76 which represents 0.53% of total net assets.

Forward Foreign Currency Contracts Outstanding at April 30, 2009

							Unrealized
	Market		Contract		Delivery		Appreciation/
Description	Value ╪		Amount		Date		(Depreciation)
Australian Dollar (Sell)	$	25	$	24		05/04/09	$	(1	)
British Pound (Sell)		27		27		05/01/09		—
British Pound (Sell)		28		28		05/05/09		—
British Pound (Buy)		5		5		05/05/09		—
Euro (Buy)		1		1		05/04/09		—
Euro (Sell)		14		14		05/05/09		—
Hong Kong Dollar (Buy)		70		70		05/04/09		—
Hong Kong Dollar (Buy)		1		1		05/05/09		—
Swiss Franc (Sell)		26		26		05/04/09		—
Swiss Franc (Buy)		3		3		05/04/09		—
							$	(1	)

Futures Contracts Outstanding at April 30, 2009

					Unrealized
	Number of			Expiration	Appreciation/
Description	Contracts*		Position	Month	(Depreciation)
S&P 500 Mini		1	Long	Jun 2009	$	6

*	The number of contracts does not omit 000’s.
	Cash of $5 was pledged as initial margin deposit for open futures contracts at April 30, 2009.

╪ See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of securities.

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

9

The Hartford Global Equity Fund

Schedule of Investments

April 30, 2009 (Unaudited)

(000’s Omitted)

Diversification by Country

as of April 30, 2009

	Percentage of
Country	Net Assets
Australia		0.6	%
Austria		0.5
Belgium		0.5
Bermuda		0.1
Brazil		3.1
Canada		4.8
China		1.6
Denmark		1.0
France		3.3
Germany		2.7
Hong Kong		1.2
India		0.5
Indonesia		0.1
Ireland		0.6
Israel		1.0
Italy		1.2
Japan		3.7
Luxembourg		0.7
Malaysia		0.4
Netherlands		0.2
Norway		1.0
Panama		0.1
Russia		1.2
Singapore		0.5
South Africa		0.4
South Korea		0.4
Spain		0.8
Sweden		1.1
Switzerland		3.2
Taiwan		0.5
Thailand		0.4
Turkey		0.4
United Kingdom		8.6
United States		50.2
Short-Term Investments		2.0
Other Assets and Liabilities		1.4
Total		100.0	%

FAS 157 Disclosure of Investment Valuation Hierarchy Levels

Assets:
Investment in securities — Level 1	$	9,436
Investment in securities — Level 2		4,740
Investment in securities — Level 3		—
Total	$	14,176
Other financial instruments — Level 1 *	$	6
Total	$	6
Liabilities:
Other financial instruments — Level 2 *		1
Total	$	1

* Other financial instruments are derivative instruments not reflected in the Schedule of Investments, such as futures, forwards and swap contracts, which are valued at the unrealized appreciation/depreciation on the investment.

Following is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value:

Assets:
Securities:
Balance as of October 31, 2008	$	—
Net realized loss		(1	)
Change in unrealized appreciation ♦		2
Net sales		(1	)
Balance as of April 30, 2009	$	—
♦ Change in unrealized gains or losses relating to assets still held at April 30, 2009	$	—

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

10

The Hartford Global Equity Fund

Statement of Assets and Liabilities

April 30, 2009 (Unaudited)

(000’s Omitted)

Assets:
Investments in securities, at fair value (cost $16,532)	$	14,176
Cash		5	*
Foreign currency on deposit with custodian (cost $16)		16
Unrealized appreciation on forward foreign currency contracts		—
Receivables:
Investment securities sold		269
Fund shares sold		—
Dividends and interest		42
Variation margin		—
Other assets		102
Total assets		14,610
Liabilities:
Unrealized depreciation on forward foreign currency contracts		1
Payables:
Investment securities purchased		222
Investment management fees		2
Distribution fees		—
Accrued expenses		10
Total liabilities		235
Net assets	$	14,375
Summary of Net Assets:
Capital stock and paid-in-capital		22,179
Accumulated undistributed net investment income		52
Accumulated net realized loss on investments and foreign currency transactions		(5,506	)
Unrealized depreciation of investments and the translation of assets and liabilities denominated in foreign currency		(2,350	)
Net assets	$	14,375
Shares authorized		850,000
Par value	$	0.001
Class A: Net asset value per share/Maximum offering price per share	$	6.36/$6.73
Shares outstanding		2,029
Net assets	$	12,907
Class B: Net asset value per share	$	6.35
Shares outstanding		34
Net assets	$	217
Class C: Net asset value per share	$	6.35
Shares outstanding		44
Net assets	$	282
Class I: Net asset value per share	$	6.36
Shares outstanding		31
Net assets	$	195
Class R3: Net asset value per share	$	6.36
Shares outstanding		30
Net assets	$	194
Class R4: Net asset value per share	$	6.36
Shares outstanding		30
Net assets	$	193
Class R5: Net asset value per share	$	6.36
Shares outstanding		30
Net assets	$	193
Class Y: Net asset value per share	$	6.36
Shares outstanding		30
Net assets	$	194

^* Cash of $5 was designated to cover open futures contracts.

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

11

The Hartford Global Equity Fund

Statement of Operations

For the Six Month Period Ended April 30, 2009 (Unaudited)

(000’s Omitted)

Investment Income:
Dividends	$	193
Interest		1
Less: Foreign tax withheld		(14	)
Total investment income		180
Expenses:
Investment management fees		61
Transfer agent fees		2
Distribution fees
Class A		14
Class B		1
Class C		1
Class R3		—
Class R4		—
Custodian fees		12
Accounting services		1
Registration and filing fees		49
Board of Directors’ fees		1
Audit fees		3
Other expenses		10
Total expenses (before waivers and fees paid indirectly)		155
Expense waivers		(51	)
Commission recapture		—
Custodian fee offset		—
Total waivers and fees paid indirectly		(51	)
Total expenses, net		104
Net investment income		76
Net Realized Loss on Investments, Other Financial Instruments and Foreign Currency Transactions:
Net realized loss on investments in securities		(4,188	)
Net realized loss on futures		(17	)
Net realized gain on foreign currency transactions		3
Net Realized Loss on Investments, Other Financial Instruments and Foreign Currency Transactions		(4,202	)
Net Changes in Unrealized Appreciation of Investments, Other Financial Instruments and Foreign Currency Transactions:
Net unrealized appreciation of investments		3,899
Net unrealized appreciation of futures		2
Net unrealized depreciation on translation of other assets and liabilities in foreign currencies		(2	)
Net Changes in Unrealized Appreciation of Investments, Other Financial Instruments and Foreign Currency Transactions		3,899
Net Loss on Investments, Other Financial Instruments and Foreign Currency Transactions		(303	)
Net Decrease in Net Assets Resulting from Operations	$	(227	)

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

12

The Hartford Global Equity Fund

Statement of Changes in Net Assets

(000’s Omitted)

				For the Period
	For the Six-Month			February 29,
	Period Ended			2008**
	April 30, 2009			through
	(Unaudited)			October 31, 2008
Operations:
Net investment income	$	76		$	99
Net realized loss on investments, other financial instruments and foreign currency transactions		(4,202	)		(1,314	)
Net unrealized appreciation (depreciation) of investments, other financial instruments and foreign currency transactions		3,899			(6,249	)
Net decrease in net assets resulting from operations		(227	)		(7,464	)
Distributions to Shareholders:
From net investment income
Class A		(131	)		—
Class B		(1	)		—
Class C		(1	)		—
Class I		(2	)		—
Class R3		(1	)		—
Class R4		(2	)		—
Class R5		(2	)		—
Class Y		(3	)		—
Total distributions		(143	)		—
Capital Share Transactions:
Class A		493			19,466
Class B		1			331
Class C		60			341
Class I		3			304
Class R3		3			300
Class R4		2			300
Class R5		2			300
Class Y		3			300
Net increase from capital share transactions		567			21,642
Net increase in net assets		197			14,178
Net Assets:
Beginning of period		14,178			—
End of period	$	14,375		$	14,178
Accumulated undistributed net investment income	$	52		$	119

^** Commencement of operations.

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

13

The Hartford Global Equity Fund

Notes to Financial Statements

April 30, 2009 (Unaudited)

(000’s Omitted)

1.	Organization:
	The Hartford Mutual Funds, Inc. (“Company”) is an open-end management investment company comprised of fifty-two portfolios. Financial statements for The Hartford Global Equity Fund (the “Fund”), a series of the Company, are included in this report.
	The Company is organized under the laws of the State of Maryland and is registered with the Securities and Exchange Commission (“SEC”) under the Investment Company Act of 1940, as amended (“1940 Act”). The Fund is a diversified open-end management investment company.
	Class A shares are sold with a front-end sales charge of up to 5.50%. Class B shares are sold with a contingent deferred sales charge which is assessed on the lesser of the per share net asset value (“NAV”) of the shares at the time of redemption or the original purchase price, and declines from up to 5.00% to zero depending on the period of time the shares are held. Class C shares are sold with a contingent deferred sales charge of up to 1.00% on shares redeemed within twelve months of purchase. Class I shares are sold without sales charges to certain eligible investors through advisory fee-based wrap programs. Classes R3, R4, R5 shares, which are offered to employer-sponsored retirement plans, and Class Y shares, which are sold to certain eligible institutional investors, are sold without a sales charge. All classes of shares have identical voting, redemption, dividend, liquidation and other rights and the same terms and conditions, with the exceptions that each class may have different expenses, which may affect performance, and except that Class B shares automatically convert to Class A shares after 8 years.
	Effective at the close of business on September 30, 2009 (the “Close Date”), no new or additional investments will be allowed in Class B shares of The Hartford Mutual Funds (including investments through any systematic investment plan). After the Close Date, existing shareholders of Class B shares may continue to hold their Class B shares, exchange their Class B shares for Class B shares of another Hartford Mutual Fund (as permitted by existing exchange privileges), and redeem their Class B shares as described in the Fund’s prospectus. Reinstatement privileges with respect to Class B shares will continue under the current policy. If you have chosen to reinvest capital gains and dividends, any such capital gains or dividends on Class B shares will continue to be reinvested in Class B shares of the Fund. For Class B shares outstanding as of the Close Date, all Class B share attributes, including the 12b-1 fee, contingent deferred sales charge schedule, and conversion to Class A shares remain unchanged.
2.	Significant Accounting Policies:
	The following is a summary of significant accounting policies of the Fund, which are in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”).

a)	Security Transactions and Investment Income — Security transactions are recorded on the trade date (the date the order to buy or sell is executed). Security gains and losses are determined on the basis of identified cost.
	Dividend income is accrued as of the ex-dividend date, except that certain dividends for foreign securities where the ex-dividend date may have passed are recorded as soon as the Fund is informed of the dividend in the exercise of reasonable diligence. Interest income, including amortization of premium and accretion of discounts, is accrued on a daily basis.
b)	Security Valuation — The Fund generally uses market prices in valuing portfolio securities. If market prices are not readily available or are deemed unreliable, the Fund will use the fair value of the security as determined in good faith under policies and procedures established by and under the supervision of the Fund’s Board of Directors. Market prices may be deemed unreliable, for example, if a security is thinly traded or if an event has occurred after the close of the security’s primary markets, but before the close of the New York Stock Exchange (the “Exchange”) (normally 4:00 p.m. Eastern Time, referred to as the “Valuation Time”) that is expected to affect the value of the portfolio security. The circumstances in which the Fund may use fair value pricing include, among others: (i) the occurrence of events that are significant to a particular issuer, such as mergers, restructuring or defaults; (ii) the occurrence of events that are

14

significant to an entire market, such as natural disasters in a particular region or governmental actions; (iii) trading restrictions on securities; (iv) thinly traded securities and (v) market events such as trading halts and early market closings. In addition, with respect to the valuation of stocks primarily traded on foreign markets, the Fund uses a fair value pricing service approved by the Fund’s Board of Directors, which employs quantitative models that evaluate changes in the value of foreign market proxies (e.g., futures contracts, ADR’s, exchange traded funds (“ETF’s”)) after the close of the foreign markets but before the close of the Exchange. Securities that are primarily traded on foreign markets may trade on days that are not business days of the Fund. The value of the foreign securities in which the Fund invests may change on days when a shareholder will not be able to purchase or redeem shares of the Fund. Fair value pricing is subjective in nature and the use of fair value pricing by the Fund may cause the NAV of its shares to differ significantly from the NAV that would have been calculated using market prices at the close of the exchange on which a portfolio security is primarily traded but before the close of the Exchange. There can be no assurance that the Fund could obtain the fair value assigned to a security if the Fund were to sell the security at approximately the time at which the Fund determines its NAV.

Debt securities (other than short-term obligations) held by the Fund are valued on the basis of valuations furnished by an independent pricing service which determines valuations for normal institutional size trading units of debt securities. Securities for which prices are not available from an independent pricing service are valued using market quotations obtained from one or more dealers that make markets in the securities in accordance with procedures established by the Fund’s Board of Directors. Generally, the Fund may use fair valuation in regard to debt securities when the Fund holds defaulted or distressed securities or securities in a company in which a reorganization is pending. Short-term investments with a maturity of more than 60 days when purchased are valued based on market quotations until the remaining days to maturity become less than 61 days. Investments that mature in 60 days or less are valued at amortized cost, which approximates market value.

Exchange traded equity securities shall be valued at the last reported sale price on the exchange or market on which the security is primarily traded (the “Primary Market”) at the Valuation Time. If the security did not trade on the Primary Market, it may be valued at the Valuation Time at the last reported sale price on another exchange where it trades. The value of an equity security not traded on any exchange but traded on the Nasdaq Stock Market, Inc. (“Nasdaq”) or another over-the-counter market shall be valued at the last reported sale price or official closing price on the exchange or market on which the security is traded as of the Valuation Time. If it is not possible to determine the last reported sale price or official closing price on the relevant exchange or market at the Valuation Time, the value of the security shall be taken to be the most recent mean between bid and asked prices on such exchange or market at the Valuation Time.

Securities of foreign issuers and non-dollar securities are translated from the local currency into U.S. dollars using prevailing exchange rates.

Futures contracts are valued at the most recent settlement price reported by an exchange on which, over time, they are traded most extensively. If a settlement price is not available, futures contracts will be valued at the most recent trade price as of the Valuation Time. If there were no trades, the contract shall be valued at the mean of the closing bid/ask prices as of the Valuation Time.

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

A forward currency contract shall be valued based on the price of the underlying currency at the prevailing interpolated exchange rate, which is a combination of the spot currency rate and the forward currency rate. Spot currency rates and forward currency rates are obtained from an independent pricing service on a daily basis not more than one hour before the Valuation Time.

Other derivative or contractual type instruments shall be valued using market prices if such instruments trade on an exchange or market. If such instruments do not trade on an exchange or market, such instruments shall be valued at a

15

The Hartford Global Equity Fund

Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)

(000’s Omitted)

price at which the counterparty to such contract would repurchase the instrument. In the event that the counterparty cannot provide a price, such valuation may be determined in accordance with procedures established by the Fund’s Board of Directors.

c)	Foreign Currency Transactions — The accounting records of the Fund are maintained in U.S. dollars. All assets and liabilities initially expressed in foreign currencies are converted into U.S. dollars at the prevailing exchange rates. Purchases and sales of investment securities, dividend and interest income and certain expenses are translated at the rates of exchange prevailing on the respective dates of such transactions.
	The Fund does not isolate that portion of portfolio security valuation resulting from fluctuations in the foreign currency exchange rates on portfolio securities from the fluctuations arising from changes in the market prices of securities held. Such fluctuations are included with the net realized and unrealized gain or loss on investments in the accompanying financial statements.
	Net realized foreign exchange gains or losses arise from sales of foreign currencies and the difference between asset and liability amounts initially stated in foreign currencies and the U.S. dollar value of the amounts actually received or paid. Net unrealized foreign exchange gains or losses arise from changes in the value of other assets and liabilities at the end of the reporting period, resulting from changes in the exchange rates.
d)	Joint Trading Account — Pursuant to an exemptive order issued by the SEC, the Fund may transfer uninvested cash balances into a joint trading account managed by Wellington Management Company, LLP (“Wellington”). These balances may be invested in one or more repurchase agreements and/or short-term money market instruments.
e)	Repurchase Agreements — A repurchase agreement is an agreement by which the seller of a security agrees to repurchase the security sold at a mutually agreed upon time and price. At the time the Fund enters into a repurchase agreement, the value of the underlying collateral security(ies), including accrued interest, will be equal to or exceed the value of the repurchase agreement. Securities that serve to collateralize the repurchase agreement are held by the Fund’s custodian in book entry or physical form in the custodial account of the Fund or in a third party custodial account. Repurchase agreements are valued at cost plus accrued interest. The Fund, as shown on the Schedule of Investments, had outstanding repurchase agreements as of April 30, 2009.
f)	Forward Foreign Currency Contracts — The Fund may enter into forward foreign currency contracts that obligate the Fund to repurchase/replace or sell currencies at specified future dates. Forward foreign currency contracts may be used to hedge against adverse fluctuations in exchange rates between currencies.
	Forward foreign currency contracts involve elements of market risk in excess of the amount reflected in the Statement of Assets and Liabilities. In addition, risks may arise upon entering into these contracts from the potential inability of the counterparties to meet the terms of the contracts and from unanticipated movements in the value of the foreign currencies relative to the U.S. dollar.
g)	Indexed Securities — The Fund may invest in indexed securities whose values are linked to changes in interest rates, indices, or other underlying instruments. The Fund uses these securities to increase or decrease its exposure to different underlying instruments and to gain exposure to markets that might be difficult to invest in using conventional securities. Indexed securities may be more volatile than their underlying instruments, but any loss is limited to the amount of the original investment and there may be a limit to the potential appreciation of the investment. The Fund had investments in indexed securities as of April 30, 2009, as shown on the Schedule of Investments under Exchange Traded Funds.
h)	Fund Share Valuation and Dividend Distributions to Shareholders — Orders for the Fund’s shares are executed in accordance with the investment instructions of the shareholders. The NAV of the Fund’s shares is determined as of the close of each business day of the Exchange. The NAV is determined separately for each class of the Fund by dividing the Fund’s net assets attributable to that class by the number of shares of the class outstanding. Orders for the purchase of the

16

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

The Fund intends to distribute substantially all of its net investment income and net realized capital gains to shareholders no less frequently than once a year. Normally, dividends from net investment income are declared and paid annually. Dividends are paid on shares beginning on the business day after the day when the funds used to purchase the shares are collected by the transfer agent for the Fund. Unless shareholders specify otherwise, all dividends will be automatically reinvested in additional full or fractional shares of the Fund.

Distributions from net investment income, realized capital gains and capital are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP with respect to character and timing. These differences include but are not limited to foreign currency gains and losses, losses deferred due to wash sales adjustments, adjustments related to Passive Foreign Investment Companies and certain derivatives, and excise tax regulations. Permanent book and federal income tax basis differences relating to shareholder distributions will result in reclassifications to certain of the Fund’s capital accounts (see Federal Income Taxes: Reclassification of Capital Accounts footnote).

i)	Illiquid and Restricted Securities — The Fund is permitted to invest up to 15% of its net assets in illiquid securities. “Illiquid Securities” are those that may not be sold or disposed of in the ordinary course of business within seven days, at approximately the price used to determine the Fund’s NAV. The Fund may not be able to sell illiquid securities or other investments when its sub-adviser considers it desirable to do so or may have to sell such securities or investments at a price that is lower than the price that could be obtained if the securities or investments were more liquid. A sale of illiquid securities or other investments may require more time and may result in higher dealer discounts and other selling expenses than does the sale of those that are liquid. Illiquid securities and investments also may be more difficult to value, due to the unavailability of reliable market quotations for such securities or investments, and investment in them may have an adverse impact on the Fund’s NAV. The Fund may also purchase certain restricted securities, commonly known as Rule 144A securities, that can be resold to institutions and which may be determined to be liquid pursuant to policies and guidelines established by the Fund’s Board of Directors. The Fund, as shown in the Schedule of Investments, had illiquid or restricted securities as of April 30, 2009.
j)	Credit Risk — Credit risk depends largely on the perceived financial health of bond issuers. In general, the credit rating is inversely related to the credit risk of the issuer. Higher rated bonds generally are deemed to have less credit risk, while lower or unrated bonds are deemed to have higher risk of default. The share price, yield and total return of a Fund which holds securities with higher credit risk may fluctuate more than with less aggressive bond funds.
k)	Prepayment Risks — Certain debt securities allow for prepayment of principal without penalty. Securities subject to prepayment risk generally offer less potential for gains when interest rates decline, and may offer a greater potential for loss when interest rates rise. In addition, with respect to securities, rising interest rates may cause prepayments to occur at a slower than expected rate, thereby effectively lengthening the maturity of the security and making the security more sensitive to interest rate changes. The potential for the value of a debt security to increase in response to interest rate declines is limited. For certain securities, the actual maturity may be less than the stated maturity shown in the Schedule of Investments. As a result, the timing of income recognition relating to these securities may vary based upon the actual maturity.
l)	Use of Estimates — The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and the reported amounts of income and expenses during the period. Operating results in the future could vary from the amounts derived from management’s estimates.
m)	Financial Accounting Standards Board Financial Accounting Standards No. 157 — Effective November 1, 2008, the Fund adopted Financial Accounting Standards Board (“FASB”) Statement of Financial Accounting Standards No. 157,

17

The Hartford Global Equity Fund

Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)

(000’s Omitted)

“Fair Value Measurements” (“FAS 157”). This standard clarifies the definition of fair value for financial reporting, establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements. Fair value is defined under FAS 157 as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Under FAS 157, a fair value measurement should reflect all of the assumptions that market participants would use in pricing the asset or liability, including assumptions about the risk inherent in a particular valuation technique, the effect of a restriction on the sale or use of an asset, and the risk of nonperformance.

Various inputs are used in determining the value of the Fund’s investment. These inputs are summarized, per FAS 157, into three broad hierarchy levels. This hierarchy is based on whether the valuation inputs are observable or unobservable. These levels are:

• Level 1 — Quoted prices in active markets for identical securities. Level 1 includes exchange-traded instruments such as domestic equities, some foreign equities, options, futures, mutual funds, ETF’s, and rights and warrants.

• Level 2 — Observable inputs other than Level 1 prices, such as quoted prices for similar securities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the security. Level 2 includes debt securities that are traded less frequently than exchange-traded instruments and that are valued using third party pricing services and foreign equities, whose value is determined using a multi-factor regression model with inputs that are observable in the market; and money market instruments, which are carried at amortized cost.

• Level 3 — Significant unobservable inputs that are supported by little or no market activity. Level 3 includes financial instruments whose values are determined using broker quotes and require significant management judgment or estimation. This category includes broker quoted securities, long dated OTC options and securities where trading has been halted or there are certain restrictions on trading. While these securities are priced using unobservable inputs, the valuation of these securities reflects the best available data and management believes the prices are a good representation of exit price.

Individual securities within any of the above mentioned asset classes may be assigned a different hierarchical level than those presented above, as individual circumstances dictate.

FAS 157 also requires that a roll forward reconciliation be shown for all Level 3 securities from the beginning of the reporting period to the end of the reporting period. Part of this reconciliation includes transfers in and/or out of Level 3. For purposes of this reconciliation, transfers in are shown at the end of period fair value and transfers out are shown at the beginning of period fair value.

Refer to the valuation hierarchy levels summary and the Level 3 roll forward reconciliation found following the Schedule of Investments.

FASB Staff Position No. 157-4 — In April 2009, FASB released FASB Staff Position No. 157-4, “Determining Fair Value When the Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly” (“FSP FAS 157-4”). FSP FAS 157-4 provides additional guidance on determining whether a market for a financial asset is not active and a transaction is not distressed when measuring fair value under FAS 157. The FSP also requires additional disclosure detail on debt and equity securities by major investment categories. FSP FAS 157-4 is effective for interim and annual periods ending after June 15, 2009. At this time, management is evaluating the implications of FSP FAS 157-4 and does not believe it will impact valuation but will require additional disclosure. This additional disclosure has not yet been implemented.

n) Financial Accounting Standards Board Financial Accounting Standards No. 161 — In March 2008, the FASB released Statement of Financial Accounting Standards No. 161, “Disclosures about Derivative Instruments and Hedging Activities” (“FAS 161”). FAS 161 requires companies to disclose information detailing the objectives and strategies for using derivative instruments, the level of derivative activity entered into by the company and any credit risk-related

18

contingent features of the agreements. The application of FAS 161 is required for fiscal years and interim periods beginning after November 15, 2008. At this time, management is evaluating the implications of FAS 161 and has not yet implemented the new disclosure standard.

o) Indemnifications: Under the Company’s organizational documents, the Company shall indemnify its officers and directors to the full extent required or permitted under Maryland General Corporation Law and the federal securities law. In addition, the Company, on behalf of the Fund, may enter into contracts that contain a variety of indemnifications. The Company’s maximum exposure under these arrangements is unknown. However, the Company has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote.

3.	Futures and Options:
		Futures and Options Transactions — The Fund may invest in futures and options contracts in order to gain exposure to or protect against changes in the market. A futures contract is an agreement between two parties to buy and sell a security at a set price on a future date. When the Fund enters into such futures contracts, it is required to deposit with a futures commission merchant an amount of “initial margin” of cash, commercial paper or U.S. Treasury Bills. Subsequent payments, called variation margin, to and from the broker, are made on a daily basis as the price of the underlying security fluctuates, making the long and short positions in the futures contract more or less valuable (i.e., mark-to-market), which results in an unrealized gain or loss to the Fund.
		At any time prior to the expiration of the futures contract, the Fund may close the position by taking an opposite position, which would effectively terminate the position in the futures contract. A final determination of variation margin is then made, additional cash is required to be paid by or released to the Fund and the Fund realizes a gain or loss.
		The use of futures contracts involves elements of market risk, which may exceed the amounts recognized in the Statement of Assets and Liabilities. Changes in the value of the futures contracts may decrease the effectiveness of the Fund’s strategy and potentially result in loss. The Fund, as shown on the Schedule of Investments, had outstanding futures contracts as of April 30, 2009.
		The premium paid by the Fund for the purchase of a call or put option is included in the Fund’s Statement of Assets and Liabilities as an investment and subsequently “marked-to-market” through net unrealized appreciation (depreciation) of options to reflect the current market value of the option as of the end of the reporting period.
		The Fund may write (sell) covered options. “Covered” means that so long as the Fund is obligated as the writer of an option, it will own either the underlying securities or currency or an option to purchase or sell the same underlying securities or currency having an expiration date of the covered option and an exercise price equal to or less than the exercise price of the covered option, or will pledge cash or other liquid securities having a value equal to or greater than the fluctuating market value of the option securities or currencies. The Fund receives a premium for writing a call or put option, which is recorded on the Fund’s Statement of Assets and Liabilities and subsequently “marked-to-market” through net unrealized appreciation (depreciation) of options. There is a risk of loss from a change in the value of such options, which may exceed the related premiums received. As of April 30, 2009, there were no outstanding written options contracts.
4.	Federal Income Taxes:

a) Federal Income Taxes — For federal income tax purposes, the Fund intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code (“IRC”) by distributing substantially all of its taxable net investment income and net realized capital gains to its shareholders and otherwise complying with the requirements of regulated investment companies. The Fund has distributed substantially all of its income and capital gains in prior years and the Fund intends to distribute substantially all of its income and gains during the calendar year ending December 31, 2009. Accordingly, no provision for federal income or excise taxes has been made in the

19

The Hartford Global Equity Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

accompanying financial statements. Distributions from short-term capital gains are treated as ordinary income distributions for federal income tax purposes.

b) As of October 31, 2008, the Fund’s components of distributable earnings (deficit) on a tax basis were as follows:

	Amount
Undistributed Ordinary Income	$	121
Accumulated Capital Losses*	$	(1,096	)
Unrealized Depreciation†	$	(6,459	)
Total Accumulated Deficit	$	(7,434	)

*	The Fund has capital loss carryforwards that are identified in the Capital Loss Carryforward note that follows.
†	The differences between book-basis and tax-basis unrealized appreciation (depreciation) are attributable to the tax deferral of wash sales losses, the mark-to-market adjustment for certain derivatives in accordance with IRC Sec. 1256, the mark to market for Passive Foreign Investment Companies and basis differences in real estate investment trusts.

c)

Reclassification of Capital Accounts — In accordance with American Institute of Certified Public Accountants (AICPA) Statement of Position 93-2, Determination, Disclosure, and Financial Statement Presentation of Income, Capital Gain, and Return of Capital Distributions by Investment Companies, the Fund has recorded reclassifications in its capital accounts. These reclassifications had no impact on the NAV of the Fund. The reclassifications are a result of permanent differences between GAAP and tax accounting for such items as net operating losses that reduce distribution requirements. Adjustments are made to reflect the impact these items have on current and future distributions to shareholders. Therefore, the source of the Fund’s distributions may be shown in the accompanying Statement of Changes in Net Assets as from net investment income, from net realized gains on investments or from capital depending on the type of book and tax differences that exist. As of October 31, 2008, the Fund recorded reclassifications to increase undistributed net investment income by $20, increase accumulated net realized gain by $10, and decrease paid in capital by $30.

d)

Capital Loss Carryforward — At October 31, 2008 (tax-year-end), the Fund had capital loss carryforwards for U.S. federal income tax purposes of approximately:

Year	Amount
2016	$	1,096
Total	$	1,096

e) Financial Accounting Standards Board Interpretation No. 48 — On July 13, 2006, the FASB released FASB Interpretation No. 48 “Accounting for Uncertainty in Income Taxes” (“FIN 48”). FIN 48 provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. The Fund adopted FIN 48 for fiscal years beginning after October 31, 2008. Management has evaluated the implications of FIN 48 for all open tax years (tax year ended October 31, 2008) and has determined there is no impact to the Fund’s financial statements.

5. Expenses:

a) Investment Management Agreements — Hartford Investment Financial Services, LLC (“HIFSCO”) serves as investment manager to the Fund pursuant to an Investment Management Agreement with The Hartford Mutual Funds, Inc. As investment manager, HIFSCO has overall investment supervisory responsibility for the Fund. In addition, HIFSCO provides administrative personnel, services, equipment, facilities and office space for proper operation of the Fund. HIFSCO has contracted with Wellington for the provision of day-to-day investment management services to the Fund in

20

accordance with the Fund’s investment objective and policies. The Fund pays a fee to HIFSCO, a portion of which may be used to compensate Wellington.

The schedule below reflects the rates of compensation paid to HIFSCO for investment management services rendered during the six-month period ended April 30, 2009; the rates are accrued daily and paid monthly:

Average Daily Net Assets	Annual Fee
On first $500 million		0.9500	%
On next $500 million		0.9000	%
On next $4 billion		0.8500	%
On next $5 billion		0.8475	%
Over $10 billion		0.8450	%

b) Accounting Services Agreement — Pursuant to the Fund Accounting Agreement between Hartford Life Insurance Company (“HLIC”) and the Fund, HLIC provides accounting services to the Fund and receives monthly compensation on the Fund’s average net assets. The Fund’s accounting service fees are accrued daily and paid monthly.

Average Daily Net Assets	Annual Fee
On first $5 billion		0.016	%
On next $5 billion		0.014	%
Over $10 billion		0.012	%

c) Operating Expenses — Allocable expenses incurred by the Company are allocated to each Fund and allocated to classes within the Fund in proportion to the average daily net assets of the Fund and each class, except where allocation of certain expenses is more fairly made directly to the Fund or to specific classes within a Fund. During the six-month period ended April 30, 2009, HIFSCO has contractually limited the total operating expenses of this Fund, exclusive of taxes, interest expense, brokerage commissions, certain distribution expenses and extraordinary expenses as follows:

Class A	Class B			Class C			Class I			Class R3			Class R4			Class R5			Class Y
1.65%		2.40	%		2.40	%		1.40	%		1.90	%		1.65	%		1.40	%		1.30	%

d) Fees Paid Indirectly — The Fund has entered into agreements with State Street Global Markets, LLC and Russell Implementation Services Inc. to partially recapture non-discounted trade commissions. Such rebates are used to pay a portion of the Fund’s expenses. In addition, the Fund’s custodian bank has also agreed to reduce its fees when the Fund maintains cash on deposit in the non-interest-bearing custody account. For the six-month period ended April 30, 2009, these amounts are included in the Statement of Operations.

21

The Hartford Global Equity Fund

Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)

(000’s Omitted)

The ratio of expenses to average net assets in the accompanying financial highlights excludes the reduction in expenses related to fees paid indirectly. Had the fees paid indirectly been included, the annualized expense ratio for the periods listed below would have been as follows:

	Annualized
	Six-Month
	Period			Year Ended
	Ended April			October 31,
	30, 2009			2008
Class A Shares		1.57	%		1.56	%*
Class B Shares		2.40			2.33	†
Class C Shares		2.40			2.34	‡
Class I Shares		1.30			1.31	§
Class R3 Shares		1.90			1.90	**
Class R4 Shares		1.65			1.65	††
Class R5 Shares		1.40			1.40	‡‡
Class Y Shares		1.30			1.30	§§

*	From February 29, 2008 (commencement of operations), through October 31, 2008
†	From February 29, 2008 (commencement of operations), through October 31, 2008
‡	From February 29, 2008 (commencement of operations), through October 31, 2008
§	From February 29, 2008 (commencement of operations), through October 31, 2008
**	From February 29, 2008 (commencement of operations), through October 31, 2008
††	From February 29, 2008 (commencement of operations), through October 31, 2008
‡‡	From February 29, 2008 (commencement of operations), through October 31, 2008
§§	From February 29, 2008 (commencement of operations), through October 31, 2008

e)

Distribution and Service Plan for Class A, B, C, R3 and R4 Shares — HIFSCO is the principal underwriter and distributor of the Fund. HIFSCO is engaged in distribution activities, which include marketing and distribution of shares through broker-dealers, financing distribution costs and maintaining financial books and records. For the six-month period ended April 30, 2009, HIFSCO received front-end load sales charges of $5 and contingent deferred sales charges of $1 from the Fund.

The Fund has adopted Distribution and Service Plans in accordance with Rule 12b-1 of the Investment Company Act of 1940, as amended, to compensate the distributor (HIFSCO) for activities intended to result in the sale and distribution of Classes A, B, C, R3 and R4 shares and for providing services for shareholders. The Rule 12b-1 plan applicable to Class A shares of the Funds provides for payment of a Rule 12b-1 fee of up to 0.35% of average daily net assets; however, the Board of Directors has currently authorized 12b-1 payments of only up to 0.25%. Some or all of the fee may be used for shareholder servicing expenses with the remainder used for distribution expenses. Some or the entire Rule 12b-1 fee for Class B shares may be remitted to broker-dealers for distribution and/or shareholder account services. Under the Class B Plan, the Fund pays the distributor 1.00% of the average daily net assets of Class B shares that are outstanding for 8 years or less, 0.25% of which is a fee for services provided to existing shareholders with the remainder used for distribution expenses. After eight years, Class B shares convert to Class A shares. Upon conversion to Class A shares, the Class A plan described above will apply to those shares. Under the Class C Plan, the Fund pays the distributor 1.00% of the average daily net assets of Class C shares outstanding, 0.25% of which is intended as a fee for services provided to existing shareholders with the remainder used for distribution expenses. For Class C shares, some or the entire fee may be remitted to broker-dealers for distribution and/or shareholder account services. Class R3 shares have a distribution fee of 0.50% and Class R4 shares have a distribution fee of 0.25%. For Classes R3 and R4 shares, some or the entire fee may be remitted to broker dealers for distribution and/or shareholder account services. The Fund’s 12b-1 fees are accrued daily and paid monthly.

22

For the six-month period ended April 30, 2009, total sales commissions paid to affiliated brokers/dealers of The Hartford for distributing the Fund’s shares were $1. These commissions are in turn paid to sales representatives of the broker/dealers.

f) Other Related Party Transactions — Certain officers of the Fund are directors and/or officers of HIFSCO and/or The Hartford or its subsidiaries. For the six-month period ended April 30, 2009, a portion of the Fund’s chief compliance officer’s salary was paid by the Fund in an amount, which rounds to zero. Hartford Administrative Services Company (“HASCO”), an indirect wholly owned subsidiary of The Hartford, provides transfer agent services to the Fund. HASCO was compensated $1 for providing such services. These fees are accrued daily and paid monthly.

6. Affiliate Holdings:

As of April 30, 2009, affiliates of The Hartford had ownership of shares in the Fund as follows:

	Shares
Class A		1,810
Class B		30
Class C		30
Class I		30
Class R3		30
Class R4		30
Class R5		30
Class Y		30

7.	Investment Transactions:
	For the six-month period ended April 30, 2009, the Fund’s aggregate purchases and sales of investment securities (excluding short-term investments) were as follows:

	Amount
Cost of Purchases Excluding U.S. Government Obligations	$	9,363
Sales Proceeds Excluding U.S. Government Obligations		8,921

23

The Hartford Global Equity Fund

Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)

(000’s Omitted)

8.	Capital Share Transactions:
	The following information is for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	For the Six-Month Period Ended April 30, 2009											Year Ended October 31, 2008
			Shares					Shares						Shares					Shares
			Issued for					Issued		Net Increase				Issued for					Issued		Net Increase
	Shares		Reinvested		Shares			from		(Decrease) of		Shares		Reinvested		Shares			from		(Decrease) of
	Sold		Dividends		Redeemed			Merger		Shares		Sold		Dividends		Redeemed			Merger		Shares
Class A
Shares		70		22		(10	)		—		82		1,961		—		(14	)		—		1,947
Amount	$	420	$	130	$	(57	)	$	—	$	493	$	19,595	$	—	$	(129	)	$	—	$	19,466
Class B
Shares		5		—		(5	)		—		—		34		—		—			—		34
Amount	$	31	$	1	$	(31	)	$	—	$	1	$	331	$	—	$	—		$	—	$	331
Class C
Shares		18		—		(9	)		—		9		35		—		—			—		35
Amount	$	111	$	1	$	(52	)	$	—	$	60	$	341	$	—	$	—		$	—	$	341
Class I
Shares		—		1		—			—		1		31		—		(1	)		—		30
Amount	$	—	$	3	$	—		$	—	$	3	$	311	$	—	$	(7	)	$	—	$	304
Class R3
Shares		—		—		—			—		—		30		—		—			—		30
Amount	$	2	$	1	$	—		$	—	$	3	$	300	$	—	$	—		$	—	$	300
Class R4
Shares		—		—		—			—		—		30		—		—			—		30
Amount	$	—	$	2	$	—		$	—	$	2	$	300	$	—	$	—		$	—	$	300
Class R5
Shares		—		—		—			—		—		30		—		—			—		30
Amount	$	—	$	2	$	—		$	—	$	2	$	300	$	—	$	—		$	—	$	300
Class Y
Shares		—		—		—			—		—		30		—		—			—		30
Amount	$	—	$	3	$	—		$	—	$	3	$	300	$	—	$	—		$	—	$	300

9.	Line of Credit:
	The Fund is one of several Hartford Funds that participate in a $500 million committed revolving line of credit facility. The facility is to be used for temporary or emergency purposes. Under the arrangement, the Fund is required to own securities having a market value in excess of 300% of the total bank borrowings. The interest rate on borrowings varies depending on the nature of the loan. The facility also requires a fee to be paid based on the amount of the commitment. During the six-month period ended April 30, 2009, the Fund did not have any borrowings under this facility.
10.	Proposed Reorganization:
	At a meeting held on February 4, 2009, the Board of Directors of The Hartford Mutual Funds, Inc. approved the reorganizations (each, a “Reorganization”) of The Hartford Global Communications Fund, The Hartford Global Financial Services Fund and The Hartford Global Technology Fund (each, an “Acquired Fund”) with and into The Hartford Global Equity Fund (the “Acquiring Fund”).
	The Board of Directors has called for a Special Meeting of Shareholders of each Acquired Fund (the “Meeting”) to be held on or about August 4, 2009, for the purpose of seeking the approval of an Agreement and Plan of Reorganization (“Reorganization Agreement”) by the shareholders of the respective Acquired Fund.
	If each Reorganization Agreement is approved by the shareholders of the respective Acquired Fund, the Reorganization Agreement contemplates: (1) the transfer of all of the assets of the Acquired Fund with and into the Acquiring Fund in exchange for shares of the Acquiring Fund having equal net asset value of the Acquired Fund; (2) the assumption by the Acquiring Fund of all of the liabilities of each Acquired Fund; and (3) the distribution of shares of the Acquiring Fund to the shareholders of the Acquired Fund in complete liquidation of the Acquired Fund. Each shareholder of an Acquired Fund

24

would receive shares of the Acquiring Fund equal in value to the shares of the Acquired Fund held by that shareholder as of the closing date of the respective Reorganization.

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

25

The Hartford Global Equity Fund

Financial Highlights — (Unaudited)

					- Selected Per-Share Data - (a)																													- Ratios and Supplemental Data -
																																	Ratio of			Ratio of			Ratio of
																																	Expenses			Expenses			Expenses
																																	to Average			to Average			to Average
																																	Net Assets			Net Assets			Net Assets
																																	Before			After			After
							Net																										Waivers			Waivers			Waivers
							Realized																										and			and			and			Ratio of
							and Un-									Distrib-							Net										Reimburse-			Reimburse-			Reimburse-			Net
			Net		Pay-		realized						Dividends			utions							Increase			Net					Net		ments and			ments and			ments and			Invest-			Port-
	Net Asset		Invest-		ments		Gain						from Net			from		Distri-					(Decrease)			Asset					Assets at		Including			Including			Excluding			ment			folio
	Value at		ment		from		(Loss) on			Total from			Invest-			Realized		butions		Total			in Net			Value at					End of		Expenses			Expenses			Expenses			Income to			Turn-
	Beginning		Income		(to)		Invest-			Investment			ment			Capital		from		Distri-			Asset			End of		Total			Period		not Subject			not Subject			not Subject			Average			over
Class	of Period		(Loss)		Affiliate		ments			Operations			Income			Gains		Capital		butions			Value			Period		Return(b)			(000’s)		to Cap(c)			to Cap(c)			to Cap(c)			Net Assets			Rate(d)
For the Six-Month Period Ended April 30, 2009 (Unaudited)
A	$	6.55	$	0.03	$	—	$	(0.15	)	$	(0.12	)	$	(0.07	)	$	—	$	—	$	(0.07	)	$	(0.19	)	$	6.36		(1.82)	%(e)	$	12,907		2.36	%(f)		1.57	%(f)		1.57	%(f)		1.22	%(f)		70	%
B		6.51		0.01		—		(0.15	)		(0.14	)		(0.02	)		—		—		(0.02	)		(0.16	)		6.35		(2.08	) (e)		217		3.21	(f)		2.40	(f)		2.40	(f)		0.37	(f)		—
C		6.51		0.01		—		(0.15	)		(0.14	)		(0.02	)		—		—		(0.02	)		(0.16	)		6.35		(2.07	) (e)		282		3.25	(f)		2.40	(f)		2.40	(f)		0.38	(f)		—
I		6.56		0.04		—		(0.16	)		(0.12	)		(0.08	)		—		—		(0.08	)		(0.20	)		6.36		(1.69	) (e)		195		2.09	(f)		1.30	(f)		1.30	(f)		1.48	(f)		—
R3		6.53		0.03		—		(0.16	)		(0.13	)		(0.04	)		—		—		(0.04	)		(0.17	)		6.36		(1.93	) (e)		194		2.79	(f)		1.90	(f)		1.90	(f)		0.88	(f)		—
R4		6.54		0.03		—		(0.15	)		(0.12	)		(0.06	)		—		—		(0.06	)		(0.18	)		6.36		(1.78	) (e)		193		2.48	(f)		1.65	(f)		1.65	(f)		1.13	(f)		—
R5		6.55		0.04		—		(0.15	)		(0.11	)		(0.08	)		—		—		(0.08	)		(0.19	)		6.36		(1.63	) (e)		193		2.18	(f)		1.40	(f)		1.40	(f)		1.38	(f)		—
Y		6.56		0.04		—		(0.15	)		(0.11	)		(0.09	)		—		—		(0.09	)		(0.20	)		6.36		(1.66	) (e)		194		2.09	(f)		1.30	(f)		1.30	(f)		1.48	(f)		—
From (commencement of operations) February 29, 2008, through October 31, 2008
A(g)		10.00		0.05		—		(3.50	)		(3.45	)		—			—		—		—			(3.45	)		6.55		(34.50	) (e)		12,746		1.92	(f)		1.56	(f)		1.56	(f)		0.78	(f)		56
B(h)		10.00		—		—		(3.49	)		(3.49	)		—			—		—		—			(3.49	)		6.51		(34.90	) (e)		223		2.70	(f)		2.34	(f)		2.34	(f)		0.03	(f)		—
C(i)		10.00		—		—		(3.49	)		(3.49	)		—			—		—		—			(3.49	)		6.51		(34.90	) (e)		225		2.71	(f)		2.34	(f)		2.34	(f)		0.02	(f)		—
I(j)		10.00		0.07		—		(3.51	)		(3.44	)		—			—		—		—			(3.44	)		6.56		(34.40	) (e)		199		1.67	(f)		1.31	(f)		1.31	(f)		1.06	(f)		—
R3(k)		10.00		0.03		—		(3.50	)		(3.47	)		—			—		—		—			(3.47	)		6.53		(34.70	) (e)		196		2.36	(f)		1.90	(f)		1.90	(f)		0.47	(f)		—
R4(l)		10.00		0.04		—		(3.50	)		(3.46	)		—			—		—		—			(3.46	)		6.54		(34.60	) (e)		196		2.06	(f)		1.65	(f)		1.65	(f)		0.72	(f)		—
R5(m)		10.00		0.06		—		(3.51	)		(3.45	)		—			—		—		—			(3.45	)		6.55		(34.50	) (e)		196		1.76	(f)		1.40	(f)		1.40	(f)		0.97	(f)		—
Y(n)		10.00		0.07		—		(3.51	)		(3.44	)		—			—		—		—			(3.44	)		6.56		(34.40	) (e)		197		1.66	(f)		1.30	(f)		1.30	(f)		1.07	(f)		—

(a)	Information presented relates to a share outstanding throughout the indicated period.
(b)	Assumes initial investment at net asset value at the beginning of each period, reinvestment of all distributions, the complete redemption of the investment at net asset value at the end of each period and no sales charge. Total return would be reduced if sales charges were taken into account.
(c)	Ratios do not include fees paid indirectly (See Expenses in the accompanying Notes to Financial Statements).
(d)	Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between the classes of shares issued.
(e)	Not annualized.
(f)	Annualized.
(g)	Commenced operations on February 29, 2008.
(h)	Commenced operations on February 29, 2008.
(i)	Commenced operations on February 29, 2008.
(j)	Commenced operations on February 29, 2008.
(k)	Commenced operations on February 29, 2008.
(l)	Commenced operations on February 29, 2008.
(m)	Commenced operations on February 29, 2008.
(n)	Commenced operations on February 29, 2008.

26

The Hartford Global Equity Fund

Directors and Officers (Unaudited)

The Board of Directors appoints officers who are responsible for the day-to-day operations of the Fund and who execute policies formulated by the Directors. Each director serves until his or her death, resignation, or retirement or until the next annual meeting of shareholders is held or until his or her successor is elected and qualifies.

Directors and officers who are employed by or who have a financial interest in The Hartford are considered “interested” persons of the Fund pursuant to the Investment Company Act of 1940, as amended. Each officer and three of the Fund’s directors, as noted in the chart below, are “interested” persons of the Fund. Each director serves as a director for The Hartford Mutual Funds, Inc., The Hartford Mutual Funds II, Inc., The Hartford Income Shares Fund, Inc., Hartford Series Fund, Inc., and Hartford HLS Series Fund II, Inc., which collectively consist of 100 funds. Correspondence may be sent to directors and officers c/o Hartford Mutual Funds, P.O. Box 2999, Hartford, Connecticut 06104-2999, except that correspondence to Ms. Fagely may be sent to 500 Bielenberg Drive, Woodbury, Minnesota 55125.

The table below sets forth, for each director and officer, his or her name, year of birth, current position with the Fund and date first elected or appointed to The Hartford Mutual Funds, Inc. (“MF”) and The Hartford Mutual Funds II, Inc. (“MF2”), principal occupation, and, for directors, other directorships held. The Fund’s statement of additional information contains further information on the directors and is available free of charge by calling 1-888-843-7824 or writing to Hartford Mutual Funds, P.O. Box 64387, St. Paul, MN 55164-0387.

Information on the aggregate remuneration paid to the directors of the Fund can be found in the Statement of Operations herein. The Fund pays a portion of the Chief Compliance Officer’s compensation, but does not pay salaries or compensation to any of its officers or directors who are employed by The Hartford.

Non-Interested Directors

Lynn S. Birdsong (1946) Director since 2003, Co-Chairman of the Investment Committee

Mr. Birdsong is a private investor. Since 1981, Mr. Birdsong has been a partner in Birdsong Company, an advertising specialty firm. Since 2003, Mr. Birdsong has been an independent director of The Japan Fund. From 2003 to March 2005, Mr. Birdsong was an independent director of the Atlantic Whitehall Funds. From 1979 to 2002, Mr. Birdsong was a managing director of Zurich Scudder Investments, an investment management firm. During his employment with Scudder, Mr. Birdsong was an interested director of The Japan Fund.

Robert M. Gavin, Jr. (1940) Director since 2002 (MF) and 1986 (MF2), Chairman of the Board since 2004

Dr. Gavin is an educational consultant. Prior to September 1, 2001, he was President of Cranbrook Education Community and prior to July 1996, he was President of Macalester College, St. Paul, Minnesota.

Duane E. Hill (1945) Director since 2001 (MF) and 2002 (MF2), Chairman of the Nominating Committee

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

Sandra S. Jaffee (1941) Director since 2005

Ms. Jaffee is Chairman and Chief Executive Officer of Fortent (formerly Searchspace Group), a leading provider of compliance/regulatory technology to financial institutions. Ms. Jaffee served as an Entrepreneur in Residence with Warburg Pincus, a private equity firm, from August 2004 to August 2005. From September 1995 to July 2004, Ms. Jaffee served as Executive Vice President at Citigroup, where she was President and Chief Executive Officer of Citibank’s Global Securities Services (1995-2003).

William P. Johnston (1944) Director since 2005, Chairman of the Compliance Committee

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

27

The Hartford Global Equity Fund

Directors and Officers (Unaudited) — (continued)

Phillip O. Peterson (1944) Director since 2002 (MF) and 2000 (MF2), Chairman of the Audit Committee

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

Lemma W. Senbet (1946) Director since 2005

Dr. Senbet is the William E. Mayer Chair Professor of Finance at the University of Maryland, Robert H. Smith School of Business. He was chair of the Finance Department during 1998-2006. Previously he was an endowed professor of finance at the University of Wisconsin-Madison. Also, he was director of the Fortis Funds from March 2000-July 2002. Dr. Senbet served the finance profession in various capacities, including as director of the American Finance Association and President of the Western Finance Association. In 2006, Dr. Senbet was inducted Fellow of Financial Management Association International for his career-long distinguished scholarship and professional service.

Interested Directors and Officers

Thomas M. Marra* (1958) Director since 2002

Mr. Marra has served as President and Chief Operating Officer of The Hartford Financial Services Group, Inc. (“The Hartford”) since 2007. Mr. Marra currently serves as Director of Hartford Life, Inc. (“HL, Inc.”). Mr. Marra served as Chief Operating Officer of Hartford Life Insurance Company, Inc. (“Hartford Life”) (2000-2008), as President of Hartford Life (2002-2008) and as Director of Hartford Life’s Investment Products Division from 1998 to 2000.

*   On February 24, 2009, The Hartford and Mr. Marra determined to enter into a mutually agreed separation whereby Mr. Marra will retire, and his role as an executive officer and employee of The Hartford will terminate, effective July 3, 2009. Mr. Marra will resign his position as a Director of the Fund effective June 25, 2009.

Lowndes A. Smith (1939) Director since 2002, Co-Chairman of the Investment Committee

Mr. Smith served as Vice Chairman of The Hartford from February 1997 to January 2002, as President and Chief Executive Officer of Hartford Life, Inc. from February 1997 to January 2002, and as President and Chief Operating Officer of The Hartford Life Insurance Companies from January 1989 to January 2002. Mr. Smith serves as a Director of White Mountains Insurance Group, Ltd., One Beacon Insurance, Symetra Financial and as a Managing Director of Whittington Gray Associates.

John C. Walters* (1962) Director since 2008

Mr. Walters currently serves as Chief Executive Officer, President and Director of HL, Inc. Mr. Walters previously served as President of the U.S. Wealth Management Division of Hartford Life, Inc., as Co-Chief Operating Officer of Hartford Life Insurance Company (2007-2008) and as Executive Vice President and Director of its Investment Products Division (2000-2008). Mr. Walters also serves as Chairman of the Board, Chief Executive Officer, President and Director of Hartford Life Insurance Company and as Executive Vice President of The Hartford. In addition, Mr. Walters is Manager of HL Investment Advisors, LLC (“HL Advisors”).

*     Mr. Walters previously served as President and Chief Executive Officer of the Fund (2007 – 2009).

Other Officers

Robert M. Arena, Jr. (1968) President and Chief Executive Officer since 2009 (served as Vice President of the Fund (2006 – 2009)) Mr. Arena serves as Executive Vice President of Hartford Life Insurance Company, (“Hartford Life”). Additionally, Mr. Arena is Director and Senior Vice President of Hartford Administrative Services Company, (“HASCO”), Manager, Chief Executive Officer and President of Hartford Investment Financial Services, LLC (“HIFSCO”) and HL Advisors. Prior to joining The Hartford in 2004, he was Senior Vice President in charge of Product Management for American Skandia/Prudential in the individual annuities division. Mr. Arena joined American Skandia in 1996.

Tamara L. Fagely (1958) Vice President, Treasurer and Controller since 2002 (MF) 1993 (MF2)

Ms. Fagely has been a Vice President of HASCO since 1998 and Chief Financial Officer since 2006. Currently Ms. Fagely is a Vice President of Hartford Life. She served as Assistant Vice President of Hartford Life from December 2001 through March 2005. In addition, Ms. Fagely is Controller and Chief Financial Officer of HIFSCO.

Brian Ferrell (1962) AML Compliance Officer since 2008

Mr. Ferrell has served as Assistant Vice President and AML Compliance Officer for The Hartford since 2006 and as AML Compliance Officer for HASCO and Hartford Investor Services Company, LLC (“HISC”) since 2008. Prior to joining The Hartford in 2006, Mr. Ferrell held various positions at the U.S. Department of the Treasury, (the “Treasury”), from 2001 to 2006 where he served as Chief Counsel for the Treasury’s Financial Crimes Enforcement Network, (“FinCEN”) from 2005 – 2006.

28

Thomas D. Jones, III (1965) Vice President and Chief Compliance Officer since 2006

Mr. Jones serves as Chief Compliance Officer for the Hartford Mutual Funds and Vice President and Director of Securities Compliance for The Hartford. He is also Vice President of HIFSCO, HL Advisors, and Hartford Life Insurance Company. Mr. Jones joined The Hartford in 2006 from SEI Investments, where he served as Chief Compliance Officer for its mutual funds and investment advisers. Prior to joining SEI, Mr. Jones was First Vice President and Compliance Director for Merrill Lynch Investment Managers (Americas) (“MLIM”), where he worked from 1992-2004. At MLIM, Mr. Jones was responsible for the compliance oversight of various investment products, including mutual funds, wrap accounts, institutional accounts and alternative investments.

Edward P. Macdonald (1967) Vice President, Secretary and Chief Legal Officer since 2005

Mr. Macdonald serves as Assistant General Counsel and Assistant Vice President of The Hartford and Chief Legal Officer and Vice President of HIFSCO. He also serves as Vice President and Secretary of HASCO, Assistant Vice President of Hartford Life, and Chief Legal Officer, Secretary and Vice President of HL Advisors. Prior to joining The Hartford in 2005, Mr. Macdonald was Chief Counsel, Investment Management for Prudential Financial (formerly American Skandia Investment Services, Inc.). He joined Prudential in April 1999.

Vernon J. Meyer (1964) Vice President since 2006

Mr. Meyer serves as Senior Vice President of Hartford Life and as Director of its Investment Advisory Group in the Individual Markets Group segment. He also serves as Senior Vice President of HIFSCO and HL Advisors. Prior to joining The Hartford in 2004, Mr. Meyer was with MassMutual which he joined in 1987.

D. Keith Sloane (1960) Vice President since 2009

Mr. Sloane is a Senior Vice President of Hartford Life where he serves as Director of mutual fund product management for The Hartford’s mutual funds and 529 college savings businesses. Additionally, Mr. Sloane currently serves as Senior Vice President of HIFSCO, HL Advisors, and HASCO. Prior to joining The Hartford in 2007, Mr. Sloane was Director of product marketing and led the mutual fund business for Wachovia Securities (“Wachovia”) in their investment products group. Mr. Sloane joined Wachovia in 1995.

Jane Wolak (1961) Vice President since 2009

Ms. Wolak currently serves as Vice President of Hartford Life. Ms. Wolak joined Hartford Life as Vice President, Retail Product Services in May 2007. She is also Vice President of HASCO. Previously, Ms. Wolak was with Sun Life Financial where she held the position of Vice President, Service Center Operations from 2001 – 2007.

HOW TO OBTAIN A COPY OF THE FUND’S PROXY VOTING POLICIES AND VOTING RECORDS

A description of the policies and procedures that the Fund uses to determine how to vote proxies relating to portfolio securities and a record of how the Fund voted any proxies for the twelve-month period ended June 30, 2008 is available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov.

QUARTERLY PORTFOLIO HOLDINGS INFORMATION

The Fund files a complete schedule of portfolio holdings with the Commission for the first and third quarters of each fiscal year on Form N-Q. The Fund’s Forms are available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov. The Form N-Q may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330.

29

The Hartford Global Equity Fund

Expense Example (Unaudited)

Your Fund’s Expenses

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments and contingent deferred sales charges (CDSC) (2) ongoing costs including management fees; distribution fees; and other fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the period of October 31, 2008 through April 30, 2009.

Actual Expenses

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

Hypothetical Example for Comparison Purposes

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

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads) and CDSC. Therefore, the second line 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 are equal to the Fund’s annualized expense ratios multiplied by average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

	Actual return						Hypothetical (5% return before expenses)
					Expenses paid						Expenses paid					Days in
					during the period						during the period					the		Days
	Beginning		Ending Account		October 31, 2008		Beginning		Ending Account		October 31,		Annualized			current		in the
	Account Value		Value		through		Account Value		Value		2008 through		expense			1/2		full
	October 31, 2008		April 30, 2009		April 30, 2009		October 31, 2008		April 30, 2009		April 30, 2009		ratio			year		year
Class A	$	1,000.00	$	981.80	$	7.71	$	1,000.00	$	1,017.00	$	7.85		1.57	%		181		365
Class B	$	1,000.00	$	979.15	$	11.77	$	1,000.00	$	1,012.89	$	11.97		2.40			181		365
Class C	$	1,000.00	$	979.28	$	11.77	$	1,000.00	$	1,012.89	$	11.97		2.40			181		365
Class I	$	1,000.00	$	983.10	$	6.39	$	1,000.00	$	1,018.34	$	6.50		1.30			181		365
Class R3	$	1,000.00	$	980.72	$	9.33	$	1,000.00	$	1,015.37	$	9.49		1.90			181		365
Class R4	$	1,000.00	$	982.20	$	8.10	$	1,000.00	$	1,016.61	$	8.25		1.65			181		365
Class R5	$	1,000.00	$	983.70	$	6.88	$	1,000.00	$	1,017.85	$	7.00		1.40			181		365
Class Y	$	1,000.00	$	983.37	$	6.39	$	1,000.00	$	1,018.34	$	6.50		1.30			181		365

30

The Hartford Global Financial Services Fund

Table of Contents

Manager Discussions (Unaudited)	2
Financial Statements
Schedule of Investments at April 30, 2009 (Unaudited)	4
Statement of Assets and Liabilities at April 30, 2009 (Unaudited)	6
Statement of Operations for the Six Month Period Ended April 30, 2009 (Unaudited)	7
Statement of Changes in Net Assets for the Six Month Period Ended April 30, 2009 (Unaudited) and the Year Ended October 31, 2008	8
Notes to Financial Statements (Unaudited)	9
Financial Highlights (Unaudited)	19
Directors and Officers (Unaudited)	20
How to Obtain a Copy of the Fund’s Proxy Voting Policies and Proxy Voting Records (Unaudited)	22
Quarterly Portfolio Holdings Information (Unaudited)	22
Expense Example (Unaudited)	23

The Hartford Global Financial Services Fund
(subadvised by Wellington Management Company, LLP)

Performance Overview(1) 10/31/00 - 4/30/09
Growth of a $10,000 investment in Class A which includes Sales Charge

MSCI Finance ex Real Estate Index includes only companies in both the MSCI Developed Index and in the Banks, Diversified Financials or Insurance industry groups. The constituents of this index will represent 85% of the market capitalization of all companies in these specific countries and industry groups.

S&P 500 Index is a market capitalization weighted price index composed of 500 widely held common stocks.

You cannot invest directly in an index.

The value of shares will fluctuate so that, when redeemed, shares may be worth more or less than their original cost. The chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.

Investment objective – Seeks long-term capital appreciation.

Average Annual Total Returns(2,3) (as of 4/30/09)

	Inception		1			5			Since
	Date		Year			Year			Inception
Global Financial Services A#		10/31/00		-39.21	%		-5.01	%		-2.56	%
Global Financial Services A##		10/31/00		-42.55	%		-6.08	%		-3.21	%
Global Financial Services B#		10/31/00		-39.44	%		-5.55	%	NA		*
Global Financial Services B##		10/31/00		-42.37	%		-5.84	%	NA		*
Global Financial Services C#		10/31/00		-39.72	%		-5.73	%		-3.27	%
Global Financial Services C##		10/31/00		-40.30	%		-5.73	%		-3.27	%
Global Financial Services Y#		10/31/00		-39.00	%		-4.61	%		-2.13	%

#	Without sales charge
##	With sales charge
NA	Not Applicable
*	Inception returns are not applicable for Class B because after 8 years Class B converts to Class A.

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)	Growth of a $10,000 investment in Classes B, C and Y shares will vary from results seen above due to differences in the expenses charged to these share classes.
(2)	The initial investment in Class A shares reflects the maximum sales charge and Classes B and C reflect CDSC.
(3)	Total returns presented above were calculated using the Fund’s net asset value available to shareholders for sale or redemption of Fund shares on April 30, 2009, which excludes investment transactions as of this date.

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

Portfolio Manager
Mark T. Lynch, CFA
Senior Vice President, Partner,
Global Industry Analyst

How did the Fund perform?

The Class A shares of The Hartford Global Financial Services Fund returned -8.77%, before sales charge, for the six-month period ended April 30, 2009, outperforming its benchmark, the MSCI Finance ex-Real Estate Index, which returned -15.04% for the same period. The Fund underperformed the -7.01% return of the average fund in the Lipper Global Financial Services Funds peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

The six-month period ending April 30, 2009 was one of the most volatile in recent history for the financial sector. Deleveraging across the financial sector accelerated into the fourth quarter of 2008, limiting the availability of credit to even the most secure corporate borrowers and exacerbating a slowdown across the broader economy. Many investors responded to the financial crisis by shedding risk broadly, increasing exposure to cash, and selling equities with little regard for the quality or valuation of their holdings. After plunging for much of the first quarter of 2009, global equities, including global financial stocks, staged a sharp

2

rebound in March and April as favorable news flow from a few global banks signaled to investors that the troubled Financials sector may start to stabilize. Further boosting stocks was the U.S. Treasury Department’s updated plan to clean up bank balance sheets and some encouraging economic data.

In this environment, all six of the industries in the MSCI Finance ex-Real Estate Index posted negative returns during the period. Diversified Financial Services (-35%), Consumer Finance (-29%), Thrifts & Mortgage Finance (-25%), and Commercial Banks (-16%) were hit the hardest. Capital Markets (-2%) and Insurance (-7%) performed better.

Outperformance against the benchmark was driven by security selection, which was strong within five of the six industries. Security selection was strongest in Commercial Banks, Capital Markets, and Insurance. Industry allocation detracted slightly from results as an underweight (i.e. the Fund’s sector position was less than the benchmark position) allocation to Captial Markets and an overweight (i.e. the Fund’s sector position was greater than the benchmark position) to Consumer Finance was only partially offset by an underweight to Diversified Financial Services.

Top contributors to benchmark-relative (i.e. performance of the Fund as measured against the benchmark) performance included Itau Unibanco Banco (Commercial Banks), Goldman Sachs (Diversified Financial Serivces), and DnB NOR (Commercial Banks). Not holding Bank of America (Diversifed Financial Services) during the period also aided relative returns. Shares of Itau Unibanco Banco rebounded in March on positive sentiment from the G-20 summit regarding efforts to revive the global economy. Shares of Goldman Sachs benefited from the firm’s relatively healthy balance sheet and news that it was exploring ways to pay back its government TARP loans sooner than had been anticipated. Norwegian-based financial services company DnB NOR performed well due to the relatively mild credit deterioration in the Norwegian market. Another top contributor to absolute (i.e. total return) performance was Sweden-based Nordea Bank (Commercial Banks).

Webster Financial (Commercial Banks), Capital One Financial (Diversified Financial Services), and Discover Financial Services (Diversified Financial Services) were among the top detractors from relative performance during the period. Shares of Connecticut-based Webster Financial declined due to significant writedowns on their investment portfolio and larger-than-expected losses on loans. Diversified banking company Capital One announced disappointing quarterly results and forecast higher credit losses in 2009. We eliminated the position. Shares of credit card issuer Discover Financial Services fell due to higher than expected delinquencies. Other top detractors from absolute performance included insurance company ACE (Insurance) and diversified financial services company JPMorgan Chase (Diversified Financial Services).

What is the outlook?

The past year has been extremely volatile and complex for the financial sector. As the Financial Industry remains under unusual stress, we believe this creates buying opportunities to purchase solid companies at attractive valuations. We continuously seek to upgrade the Fund by adding good companies on price weakness and trimming into strength.

Fund positioning is generated through a bottom-up (i.e. stock by stock fundamental research) stock selection process. At the end of the period we were overweight Commercial Banks, Thrifts & Mortgage Finance, and Consumer Finance and underweight Insurance, Capital Markets, and Diversified Financial Services.

Our holdings are geographically diverse. At the end of the period, we remained overweight to Emerging Markets, Canada, and Europe ex U.K., and underweight to Japan, the United Kingdom, and Asia Pacific ex Japan.

At a meeting held on February 4, 2009, the Board of Directors of The Hartford Mutual Funds, Inc. approved the reorganizations (each, a “Reorganization”) of The Hartford Global Communications Fund, The Hartford Global Financial Services Fund and The Hartford Global Technology Fund (each, an “Acquired Fund”) with and into The Hartford Global Equity Fund (the “Acquiring Fund”).

The Board of Directors has called for a Special Meeting of Shareholders of each Acquired Fund (the “Meeting”) to be held on or about August 4, 2009, for the purpose of seeking the approval of an Agreement and Plan of Reorganization (“Reorganization Agreement”) by the shareholders of the respective Acquired Fund.

Diversification by Country
as of April 30, 2009

	Percentage of
Country	Net Assets
Brazil		7.2	%
Canada		12.6
Denmark		5.1
France		2.1
Germany		5.8
Norway		7.7
Panama		0.3
Singapore		3.9
Sweden		3.5
Switzerland		5.3
Thailand		4.3
United Kingdom		5.7
United States		32.3
Short-Term Investments		4.2
Other Assets and Liabilities		—
Total		100.0	%

3

The Hartford Global Financial Services Fund

Schedule of Investments
April 30, 2009 (Unaudited)
(000’s Omitted)

Shares or Principal Amount			Market Value ╪
COMMON STOCKS - 93.4%
		Brazil - 4.8%
	105	Banco do Estado do Rio Grande do Sul S.A.	$	344
	36	Itau Unibanco Banco Multiplo S.A. ADR		494
				838
		Canada - 12.6%
	30	Bank of Nova Scotia		853
	54	First National Financial, Inc.		476
	3	Gluskin Sheff Associates, Inc.		26
	22	Toronto-Dominion Bank ADR		855
				2,210
		Denmark - 5.1%
	5	Gronlandsbanken		282
	1	Ringkjoebing Landbobank		82
	31	Sydbank A/S		524
				888
		France - 2.1%
	3	BNP Paribas		175
	4	Societe Generale Class A		190
				365
		Germany - 5.8%
	14	Deutsche Boerse AG		1,013
		Norway - 7.7%
	183	DNB Nor ASA		1,142
	49	Sparebanken Midt-Norge		220
				1,362
		Panama - 0.3%
	4	Banco Latinoamericano de Exportaciones S.A. ADR Class E		53
		Singapore - 3.9%
	107	DBS Group Holdings Ltd.		682
		Sweden - 3.5%
	81	Nordea Bank AB		606
		Switzerland - 5.3%
	19	Julius Baer Holding Ltd.		630
	16	Paris RE Holdings Ltd.		307
				937
		Thailand - 4.3%
	316	Bangkok Bank plc		763
		United Kingdom - 5.7%
	46	Lancashire Holdings Ltd. •		321
	44	Standard Chartered plc		685
				1,006
		United States - 32.3%
	14	ACE Ltd.		634
	15	Ameriprise Financial, Inc.		403
	148	Citizens Republic Bancorp, Inc.		249
	77	Discover Financial Services, Inc.		625
	3	Everest Re Group Ltd.		258
	7	Goldman Sachs Group, Inc.		841
	28	Hilltop Holdings, Inc. •		314
	41	Nasdaq OMX Group, Inc. •		781
	43	Popular, Inc.		124
	15	Travelers Cos., Inc.		609
	57	Washington Mutual, Inc. Private Placement ⌂†		6
	26	Webster Financial Corp.		134
	34	Wells Fargo & Co.		688
				5,666
		Total common stocks (cost $20,648)	$	16,389
PREFERRED STOCKS - 2.4%
		Brazil - 2.4%
	30	Banco Itau Holding	$	418
		Total preferred stocks (cost $611)	$	418
WARRANTS - 0.0%
		United States 0.0%
	7	Washington Mutual, Inc. Private Placement ⌂•†	$	—
		Total warrants (cost $—)	$	—
		Total long-term investments (cost $21,259)	$	16,807
SHORT-TERM INVESTMENTS — 4.2%
		Repurchase Agreements - 4.2%
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $174, collateralized by GNMA 4.50% - 6.50%, 2038 - 2039, value of $177)
$	174	0.18%, 04/30/2009	$	174
		BNP Paribas Securities Corp. TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $208, collateralized by FHLMC 4.50% - 6.50%, 2035 - 2039, FNMA 4.50% - 6.50%, 2034 - 2047, value of $212)
	208	0.17%, 04/30/2009		208
		Deutsche Bank Securities TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $291, collateralized by FHLMC 4.00% - 7.00%, 2021 - 2039, FNMA 6.00% - 7.00%, 2034 - 2038, GNMA 4.50% - 7.00%, 2024 - 2039, value of $296)
	290	0.17%, 04/30/2009		290
		UBS Securities, Inc. Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $1, collateralized by U.S. Treasury Bond 7.50%, 2024, value of $1)
	1	0.14%, 04/30/2009		1

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

4

Shares or Principal Amount					Market Value ╪
SHORT-TERM INVESTMENTS - 4.2% - (continued)
		Repurchase Agreements - 4.2% - (continued)
		UBS Securities, Inc. TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $63, collateralized by FHLMC 8.00% - 15.00%, 2009 - 2021, FNMA 3.50% - 15.50%, 2012 - 2039, value of $64)
$	63	0.16%, 04/30/2009			$	63
						736
		Total short-term investments (cost $736)			$	736
		Total investments (cost $21,995)▲	100.0	%	$	17,543
		Other assets and liabilities	—	%		(9	)
		Total net assets	100 .0	%	$	17,534

Note:	Percentage of investments as shown is the ratio of the total market value to total net assets. Market value of investments in foreign securities represents 63.54% of total net assets at April 30, 2009.
	Foreign securities that are principally traded on certain foreign markets are adjusted daily pursuant to a third party pricing service methodology approved by the Board of Directors in order to reflect an adjustment for factors occurring after the close of the foreign market but before the close of the New York Stock Exchange.
▲	At April 30, 2009, the cost of securities for federal income tax purposes was $22,617 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	1,347
Unrealized Depreciation		(6,421	)
Net Unrealized Depreciation	$	(5,074	)

†	The aggregate value of securities valued in good faith at fair value as determined under policies and procedures established by and under the supervision of the Fund’s Board of Directors at April 30, 2009, was $6, which represents 0.03% of total net assets. This calculation excludes securities that are principally traded in certain foreign markets and whose prices were adjusted pursuant to a third party pricing service methodology approved by the Board of Directors.
•	Currently non-income producing.
⌂	The following securities are considered illiquid. Illiquid securities are often purchased in private placement transactions, are often not registered under the Securities Act of 1933 and may have contractual restrictions on resale. A security may also be considered illiquid if the security lacks a readily available market or if its valuation has not changed for a certain period of time.

Period		Shares/
Acquired		Par		Security	Cost Basis
	04/2008		57	Washington Mutual, Inc. Private Placement	$	500
	04/2008		7	Washington Mutual, Inc. Private Placement Warrants	$	—

          The aggregate value of these securities at April 30, 2009 was $6 which represents 0.03% of total net assets.

╪ See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of securities.

Diversification by Industry
as of April 30, 2009

	Percentage of
Industry	Net Assets
Asset Management & Custody Banks		6.0	%
Consumer Finance		3.6
Diversified Banks		46.0
Investment Banking & Brokerage		4.8
Other Diversified Financial Services		2.4
Property & Casualty Insurance		8.9
Regional Banks		6.2
Reinsurance		5.0
Specialized Finance		10.2
Thrifts & Mortgage Finance		2.7
Short-Term Investments		4.2
Other Assets and Liabilities		—
Total		100.0	%

FAS 157 Disclosure of Investment Valuation Hierarchy Levels

Assets:
Investment in securities — Level 1	$	9,178
Investment in securities — Level 2		8,359
Investment in securities — Level 3		6
Total	$	17,543

Following is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value:

Assets:
Securities:
Balance as of October 31, 2008	$	3
Change in unrealized appreciation ♦		3
Balance as of April 30, 2009.	$	6
♦ Change in unrealized gains or losses relating to asset still held at April 30, 2009	$	3

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

5

The Hartford Global Financial Services Fund

Statement of Assets and Liabilities
April 30, 2009 (Unaudited)
(000’s Omitted)

Assets:
Investments in securities, at fair value (cost $21,995)	$	17,543
Cash		10
Foreign currency on deposit with custodian (cost $5)		5
Receivables:
Dividends and interest		45
Other assets		68
Total assets		17,671
Liabilities:
Payables:
Investment securities purchased		33
Fund shares redeemed		82
Investment management fees		2
Distribution fees		1
Accrued expenses		19
Total liabilities		137
Net assets	$	17,534
Summary of Net Assets:
Capital stock and paid-in-capital		36,769
Accumulated undistributed net investment income		127
Accumulated net realized loss on investments and foreign currency transactions		(14,910	)
Unrealized depreciation of investments and the translation of assets and liabilities denominated in foreign currency		(4,452	)
Net assets	$	17,534
Shares authorized		300,000
Par value	$	0.001
Class A: Net asset value per share/Maximum offering price per share	$	6.04/$6.39
Shares outstanding		1,804
Net assets	$	10,900
Class B: Net asset value per share	$	5.93
Shares outstanding		337
Net assets	$	2,000
Class C: Net asset value per share	$	5.90
Shares outstanding		541
Net assets	$	3,196
Class Y: Net asset value per share	$	6.10
Shares outstanding		236
Net assets	$	1,438

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

6

The Hartford Global Financial Services Fund

Statement of Operations
For the Six Month Period Ended April 30, 2009 (Unaudited)
(000’s Omitted)

Investment Income:
Dividends	$	331
Interest		—
Securities lending		—
Less: Foreign tax withheld		(30	)
Total investment income		301
Expenses:
Investment management fees		78
Transfer agent fees		48
Distribution fees
Class A		14
Class B		10
Class C		16
Custodian fees		6
Accounting services		1
Registration and filing fees		25
Board of Directors’ fees		—
Audit fees		3
Other expenses		8
Total expenses (before waivers and fees paid indirectly)		209
Expense waivers		(53	)
Transfer agent fee waivers		(23	)
Custodian fee offset		—
Total waivers and fees paid indirectly		(76	)
Total expenses, net		133
Net investment income		168
Net Realized Loss on Investments and Foreign Currency Transactions:
Net realized loss on investments in securities		(8,470	)
Net realized gain on foreign currency transactions		9
Net Realized Loss on Investments and Foreign Currency Transactions		(8,461	)
Net Changes in Unrealized Appreciation of Investments:
Net unrealized appreciation of investments		5,322
Net unrealized appreciation on translation of other assets and liabilities in foreign currencies		—
Net Changes in Unrealized Appreciation of Investments		5,322
Net Loss on Investments and Foreign Currency Transactions		(3,139	)
Net Decrease in Net Assets Resulting from Operations	$	(2,971	)

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

7

The Hartford Global Financial Services Fund

Statement of Changes in Net Assets

(000’s Omitted)

	For the Six-Month
	Period Ended			For the
	April 30, 2009			Year Ended
	(Unaudited)			October 31, 2008
Operations:
Net investment income	$	168		$	660
Net realized loss on investments and foreign currency transactions		(8,461	)		(6,360	)
Net unrealized appreciation (depreciation) of investments		5,322			(13,584	)
Net decrease in net assets resulting from operations		(2,971	)		(19,284	)
Distributions to Shareholders:
From net investment income
Class A		(404	)		(356	)
Class B		(74	)		(16	)
Class C		(102	)		(30	)
Class Y		(50	)		(23	)
From net realized gain on investments
Class A		—			(2,764	)
Class B		—			(428	)
Class C		—			(593	)
Class Y		—			(166	)
Total distributions		(630	)		(4,376	)
Capital Share Transactions:
Class A		(3,616	)		9,173
Class B		(286	)		1,146
Class C		(486	)		2,692
Class Y		405			874
Net increase (decrease) from capital share transactions		(3,983	)		13,885
Net decrease in net assets		(7,584	)		(9,775	)
Net Assets:
Beginning of period		25,118			34,893
End of period	$	17,534		$	25,118
Accumulated undistributed net investment income	$	127		$	589

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

8

The Hartford Global Financial Services Fund

Notes to Financial Statements
April 30, 2009 (Unaudited)
(000’s Omitted)

1.	Organization:
	The Hartford Mutual Funds, Inc. (“Company”) is an open-end management investment company comprised of fifty-two portfolios. Financial statements for The Hartford Global Financial Services Fund (the “Fund”), a series of the Company, are included in this report.
	The Company is organized under the laws of the State of Maryland and is registered with the Securities and Exchange Commission (“SEC”) under the Investment Company Act of 1940, as amended (“1940 Act”). The Fund is a non-diversified open-end management investment company.
	Class A shares are sold with a front-end sales charge of up to 5.50%. Class B shares are sold with a contingent deferred sales charge which is assessed on the lesser of the per share net asset value (“NAV”) of the shares at the time of redemption or the original purchase price, and declines from up to 5.00% to zero depending on the period of time the shares are held. Class C shares are sold with a contingent deferred sales charge of up to 1.00% on shares redeemed within twelve months of purchase. Class Y shares, which are sold to certain eligible institutional investors, are sold without a sales charge. All classes of shares have identical voting, redemption, dividend, liquidation and other rights and the same terms and conditions, with the exceptions that each class may have different expenses, which may affect performance, and except that Class B shares automatically convert to Class A shares after 8 years.
	Effective at the close of business on September 30, 2009 (the “Close Date”), no new or additional investments will be allowed in Class B shares of The Hartford Mutual Funds (including investments through any systematic investment plan). After the Close Date, existing shareholders of Class B shares may continue to hold their Class B shares, exchange their Class B shares for Class B shares of another Hartford Mutual Fund (as permitted by existing exchange privileges), and redeem their Class B shares as described in the Fund’s prospectus. Reinstatement privileges with respect to Class B shares will continue under the current policy. If you have chosen to reinvest capital gains and dividends, any such capital gains or dividends on Class B shares will continue to be reinvested in Class B shares of the Fund. For Class B shares outstanding as of the Close Date, all Class B share attributes, including the 12b-1 fee, contingent deferred sales charge schedule, and conversion to Class A shares remain unchanged.
2.	Significant Accounting Policies:
	The following is a summary of significant accounting policies of the Fund, which are in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”).

a)	Security Transactions and Investment Income - Security transactions are recorded on the trade date (the date the order to buy or sell is executed). Security gains and losses are determined on the basis of identified cost.
	Dividend income is accrued as of the ex-dividend date, except that certain dividends for foreign securities where the ex-dividend date may have passed are recorded as soon as the Fund is informed of the dividend in the exercise of reasonable diligence. Interest income, including amortization of premium and accretion of discounts, is accrued on a daily basis.
b)	Security Valuation – The Fund generally uses market prices in valuing portfolio securities. If market prices are not readily available or are deemed unreliable, the Fund will use the fair value of the security as determined in good faith under policies and procedures established by and under the supervision of the Fund’s Board of Directors. Market prices may be deemed unreliable, for example, if a security is thinly traded or if an event has occurred after the close of the security’s primary markets, but before the close of the New York Stock Exchange (the “Exchange”) (normally 4:00 p.m. Eastern Time, referred to as the “Valuation Time”) that is expected to affect the value of the portfolio security. The circumstances in which the Fund may use fair value pricing include, among others: (i) the occurrence of events that are significant to a particular issuer, such as mergers, restructuring or defaults; (ii) the occurrence of events that are significant to an entire market, such as natural disasters in a particular region or governmental actions; (iii) trading restrictions on securities; (iv) thinly traded securities and (v) market events such as trading halts and early market

9

The Hartford Global Financial Services Fund

Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

closings. In addition, with respect to the valuation of stocks primarily traded on foreign markets, the Fund uses a fair value pricing service approved by the Fund’s Board of Directors, which employs quantitative models that evaluate changes in the value of foreign market proxies (e.g., futures contracts, ADR’s, exchange traded funds (“ETF’s”)) after the close of the foreign markets but before the close of the Exchange. Securities that are primarily traded on foreign markets may trade on days that are not business days of the Fund. The value of the foreign securities in which the Fund invests may change on days when a shareholder will not be able to purchase or redeem shares of the Fund. Fair value pricing is subjective in nature and the use of fair value pricing by the Fund may cause the NAV of its shares to differ significantly from the NAV that would have been calculated using market prices at the close of the exchange on which a portfolio security is primarily traded but before the close of the Exchange. There can be no assurance that the Fund could obtain the fair value assigned to a security if the Fund were to sell the security at approximately the time at which the Fund determines its NAV.

	Securities of foreign issuers and non-dollar securities are translated from the local currency into U.S. dollars using prevailing exchange rates.
	Financial instruments for which prices are not available from an independent pricing service are valued using market quotations obtained from one or more dealers that make markets in securities in accordance with procedures established by the Fund’s Board of Directors.
	A forward currency contract shall be valued based on the price of the underlying currency at the prevailing interpolated exchange rate, which is a combination of the spot currency rate and the forward currency rate. Spot currency rates and forward currency rates are obtained from an independent pricing service on a daily basis not more than one hour before the Valuation Time.
	Other derivative or contractual type instruments shall be valued using market prices if such instruments trade on an exchange or market. If such instruments do not trade on an exchange or market, such instruments shall be valued at a price at which the counterparty to such contract would repurchase the instrument. In the event that the counterparty cannot provide a price, such valuation may be determined in accordance with procedures established by the Fund’s Board of Directors.
c)	Foreign Currency Transactions - The accounting records of the Fund are maintained in U.S. dollars. All assets and liabilities initially expressed in foreign currencies are converted into U.S. dollars at the prevailing exchange rates. Purchases and sales of investment securities, dividend and interest income and certain expenses are translated at the rates of exchange prevailing on the respective dates of such transactions.
	The Fund does not isolate that portion of portfolio security valuation resulting from fluctuations in the foreign currency exchange rates on portfolio securities from the fluctuations arising from changes in the market prices of securities held. Such fluctuations are included with the net realized and unrealized gain or loss on investments in the accompanying financial statements.
	Net realized foreign exchange gains or losses arise from sales of foreign currencies and the difference between asset and liability amounts initially stated in foreign currencies and the U.S. dollar value of the amounts actually received or paid. Net unrealized foreign exchange gains or losses arise from changes in the value of other assets and liabilities at the end of the reporting period, resulting from changes in the exchange rates.
d)	Joint Trading Account - Pursuant to an exemptive order issued by the SEC, the Fund may transfer uninvested cash balances into a joint trading account managed by Wellington Management Company, LLP (“Wellington”). These balances may be invested in one or more repurchase agreements and/or short-term money market instruments.
e)	Repurchase Agreements - A repurchase agreement is an agreement by which the seller of a security agrees to repurchase the security sold at a mutually agreed upon time and price. At the time the Fund enters into a repurchase agreement, the

10

value of the underlying collateral security(ies), including accrued interest, will be equal to or exceed the value of the repurchase agreement. Securities that serve to collateralize the repurchase agreement are held by the Fund’s custodian in book entry or physical form in the custodial account of the Fund or in a third party custodial account. Repurchase agreements are valued at cost plus accrued interest. The Fund, as shown on the Schedule of Investments, had outstanding repurchase agreements as of April 30, 2009.

f)	Forward Foreign Currency Contracts – The Fund may enter into forward foreign currency contracts that obligate the Fund to repurchase/replace or sell currencies at specified future dates. Forward foreign currency contracts may be used to hedge against adverse fluctuations in exchange rates between currencies.
	Forward foreign currency contracts involve elements of market risk in excess of the amount reflected in the Statement of Assets and Liabilities. In addition, risks may arise upon entering into these contracts from the potential inability of the counterparties to meet the terms of the contracts and from unanticipated movements in the value of the foreign currencies relative to the U.S. dollar.
g)	Fund Share Valuation and Dividend Distributions to Shareholders — Orders for the Fund’s shares are executed in accordance with the investment instructions of the shareholders. The NAV of the Fund’s shares is determined as of the close of each business day of the Exchange. The NAV is determined separately for each class of the Fund by dividing the Fund’s net assets attributable to that class by the number of shares of the class outstanding. Orders for the purchase of the Fund’s shares prior to the close of the Exchange on any day on which the Exchange is open for business are priced at the NAV determined as of the close of the Exchange. Orders after the close of the Exchange, or on a day on which the Exchange and/or the Fund is not open for business, are priced at the next determined NAV.
	The Fund intends to distribute substantially all of its net investment income and net realized capital gains to shareholders no less frequently than once a year. Normally, dividends from net investment income are declared and paid annually. Dividends are paid on shares beginning on the business day after the day when the funds used to purchase the shares are collected by the transfer agent for the Fund. Unless shareholders specify otherwise, all dividends will be automatically reinvested in additional full or fractional shares of the Fund.
	Distributions from net investment income, realized capital gains and capital are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP with respect to character and timing. These differences include but are not limited to foreign currency gains and losses, losses deferred due to wash sales adjustments, adjustments related to Passive Foreign Investment Companies and certain derivatives, and excise tax regulations. Permanent book and federal income tax basis differences relating to shareholder distributions will result in reclassifications to certain of the Fund’s capital accounts (see Federal Income Taxes: Reclassification of Capital Accounts footnote).
h)	Illiquid and Restricted Securities – The Fund is permitted to invest up to 15% of its net assets in illiquid securities. “Illiquid Securities” are those that may not be sold or disposed of in the ordinary course of business within seven days, at approximately the price used to determine the Fund’s NAV. The Fund may not be able to sell illiquid securities or other investments when its sub-adviser considers it desirable to do so or may have to sell such securities or investments at a price that is lower than the price that could be obtained if the securities or investments were more liquid. A sale of illiquid securities or other investments may require more time and may result in higher dealer discounts and other selling expenses than does the sale of those that are liquid. Illiquid securities and investments also may be more difficult to value, due to the unavailability of reliable market quotations for such securities or investments, and investment in them may have an adverse impact on the Fund’s NAV. The Fund may also purchase certain restricted securities, commonly known as Rule 144A securities, that can be resold to institutions and which may be determined to be liquid pursuant to policies and guidelines established by the Fund’s Board of Directors. The Fund, as shown in the Schedule of Investments, had illiquid or restricted securities as of April 30, 2009.
i)	Use of Estimates — The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial

11

The Hartford Global Financial Services Fund

Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

statements and the reported amounts of income and expenses during the period. Operating results in the future could vary from the amounts derived from management’s estimates.

j)

Financial Accounting Standards Board Financial Accounting Standards No. 157 – Effective November 1, 2008, the Fund adopted Financial Accounting Standards Board (“FASB”) Statement of Financial Accounting Standards No. 157, “Fair Value Measurements” (“FAS 157”). This standard clarifies the definition of fair value for financial reporting, establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements. Fair value is defined under FAS 157 as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Under FAS 157, a fair value measurement should reflect all of the assumptions that market participants would use in pricing the asset or liability, including assumptions about the risk inherent in a particular valuation technique, the effect of a restriction on the sale or use of an asset, and the risk of nonperformance.

Various inputs are used in determining the value of the Fund’s investment. These inputs are summarized, per FAS 157, into three broad hierarchy levels. This hierarchy is based on whether the valuation inputs are observable or unobservable. These levels are:

• Level 1 – Quoted prices in active markets for identical securities. Level 1 includes exchange-traded instruments such as domestic equities, some foreign equities, options, futures, mutual funds, ETF’s, and rights and warrants.

• Level 2 – Observable inputs other than Level 1 prices, such as quoted prices for similar securities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the security. Level 2 includes debt securities that are traded less frequently than exchange-traded instruments and that are valued using third party pricing services and foreign equities, whose value is determined using a multi-factor regression model with inputs that are observable in the market; and money market instruments, which are carried at amortized cost.

• Level 3 – Significant unobservable inputs that are supported by little or no market activity. Level 3 includes financial instruments whose values are determined using broker quotes and require significant management judgment or estimation. This category includes broker quoted securities, long dated OTC options and securities where trading has been halted or there are certain restrictions on trading. While these securities are priced using unobservable inputs, the valuation of these securities reflects the best available data and management believes the prices are a good representation of exit price.

Individual securities within any of the above mentioned asset classes may be assigned a different hierarchical level than those presented above, as individual circumstances dictate.

FAS 157 also requires that a roll forward reconciliation be shown for all Level 3 securities from the beginning of the reporting period to the end of the reporting period. Part of this reconciliation includes transfers in and/or out of Level 3. For purposes of this reconciliation, transfers in are shown at the end of period fair value and transfers out are shown at the beginning of period fair value.

Refer to the valuation hierarchy levels summary and the Level 3 roll forward reconciliation found following the Schedule of Investments.

FASB Staff Position No. 157-4 – In April 2009, FASB released FASB Staff Position No. 157-4, “Determining Fair Value When the Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly” (“FSP FAS 157-4”). FSP FAS 157-4 provides additional guidance on determining whether a market for a financial asset is not active and a transaction is not distressed when measuring fair value under FAS 157. The FSP also requires additional disclosure detail on debt and equity securities by major investment categories. FSP FAS 157-4 is effective for interim and annual periods ending after June 15, 2009. At this time, management is evaluating the implications of FSP FAS 157-4 and does not believe it will impact valuation but will require additional disclosure. This additional disclosure has not yet been implemented.

12

k)

Financial Accounting Standards Board Financial Accounting Standards No. 161 – In March 2008, the FASB released Statement of Financial Accounting Standards No. 161, “Disclosures about Derivative Instruments and Hedging Activities” (“FAS 161”). FAS 161 requires companies to disclose information detailing the objectives and strategies for using derivative instruments, the level of derivative activity entered into by the company and any credit risk-related contingent features of the agreements. The application of FAS 161 is required for fiscal years and interim periods beginning after November 15, 2008. At this time, management is evaluating the implications of FAS 161 and has not yet implemented the new disclosure standard.

l)

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

3. Federal Income Taxes:

a)

Federal Income Taxes - For federal income tax purposes, the Fund intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code (“IRC”) by distributing substantially all of its taxable net investment income and net realized capital gains to its shareholders and otherwise complying with the requirements of regulated investment companies. The Fund has distributed substantially all of its income and capital gains in prior years and the Fund intends to distribute substantially all of its income and gains during the calendar year ending December 31, 2009. Accordingly, no provision for federal income or excise taxes has been made in the accompanying financial statements. Distributions from short-term capital gains are treated as ordinary income distributions for federal income tax purposes.

b)

The tax character of distributions paid by the Fund for the periods indicated is as follows (as adjusted for dividends payable):

	For the Year Ended		For the Year Ended
	October 31, 2008		October 31, 2007
Ordinary Income	$	681	$	200
Long-Term Capital Gains *		3,695		1,748

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

As of October 31, 2008, the Fund’s components of distributable earnings (deficit) on a tax basis were as follows:

	Amount
Undistributed Ordinary Income	$	589
Accumulated Capital Losses*	$	(5,826	)
Unrealized Depreciation†	$	(10,397	)
Total Accumulated Deficit	$	(15,634	)

*	The Fund has capital loss carryforwards that are identified in the Capital Loss Carryforward note that follows.
†	The differences between book-basis and tax-basis unrealized appreciation (depreciation) are attributable to the tax deferral of wash sales losses, the mark-to-market adjustment for certain derivatives in accordance with IRC Sec. 1256, the mark to market for Passive Foreign Investment Companies and basis differences in real estate investment trusts.

13

The Hartford Global Financial Services Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

c)

Reclassification of Capital Accounts - In accordance with American Institute of Certified Public Accountants (AICPA) Statement of Position 93-2, Determination, Disclosure, and Financial Statement Presentation of Income, Capital Gain, and Return of Capital Distributions by Investment Companies, the Fund has recorded reclassifications in its capital accounts. These reclassifications had no impact on the NAV of the Fund. The reclassifications are a result of permanent differences between GAAP and tax accounting for such items as net operating losses that reduce distribution requirements. Adjustments are made to reflect the impact these items have on current and future distributions to shareholders. Therefore, the source of the Fund’s distributions may be shown in the accompanying Statement of Changes in Net Assets as from net investment income, from net realized gains on investments or from capital depending on the type of book and tax differences that exist. As of October 31, 2008, the Fund recorded reclassifications to decrease undistributed net investment income by $20 and increase accumulated net realized gain by $20.

d)

Capital Loss Carryforward - At October 31, 2008 (tax-year-end), the Fund had capital loss carryforwards for U.S. federal income tax purposes of approximately:

Year	Amount
2016	$	5,826
Total	$	5,826

e) Financial Accounting Standards Board Interpretation No. 48 – On July 13, 2006, the FASB released FASB Interpretation No. 48 “Accounting for Uncertainty in Income Taxes” (“FIN 48”). FIN 48 provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. The Fund adopted FIN 48 for fiscal years beginning after December 15, 2006. Management has evaluated the implications of FIN 48 for all open tax years (tax years ended October 31, 2006 – 2008) and has determined there is no impact to the Fund’s financial statements.

4. Expenses:

a)

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

The schedule below reflects the rates of compensation paid to HIFSCO for investment management services rendered during the six-month period ended April 30, 2009; the rates are accrued daily and paid monthly:

Average Daily Net Assets	Annual Fee
On first $500 million		0.9000	%
On next $500 million		0.8500	%
On next $4 billion		0.8000	%
On next $5 billion		0.7975	%
Over $10 billion		0.7950	%

14

b) Accounting Services Agreement – Pursuant to the Fund Accounting Agreement between Hartford Life Insurance Company (“HLIC”) and the Fund, HLIC provides accounting services to the Fund and receives monthly compensation on the Fund’s average net assets. The Fund’s accounting service fees are accrued daily and paid monthly.

Average Daily Net Assets	Annual Fee
On first $5 billion		0.012	%
Over $5 billion		0.010	%

c) Operating Expenses - Allocable expenses incurred by the Company are allocated to each Fund and allocated to classes within the Fund in proportion to the average daily net assets of the Fund and each class, except where allocation of certain expenses is more fairly made directly to the Fund or to specific classes within a Fund. During the six-month period ended April 30, 2009, HIFSCO has contractually limited the total operating expenses of this Fund, exclusive of taxes, interest expense, brokerage commissions, certain distribution expenses and extraordinary expenses as follows:

Class A	Class B			Class C			Class Y
1.60%		2.35	%		2.35	%		1.20	%

d)	Fees Paid Indirectly - The Fund’s custodian bank has agreed to reduce its fees when the Fund maintains cash on deposit in the non-interest-bearing custody account. For the six-month period ended April 30, 2009, this amount is included in the Statement of Operations.
	The ratio of expenses to average net assets in the accompanying financial highlights excludes the reduction in expenses related to fees paid indirectly. Had the fees paid indirectly been included, the annualized expense ratio for the periods listed below would have been as follows:

	Annualized
	Six-Month
	Period			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended
	Ended April			October 31,			October 31,			October 31,			October 31,			October 31,
	30, 2009			2008			2007			2006			2005			2004
Class A Shares		1.37	%		1.60	%		1.60	%		1.14	%		1.48	%		1.63	%
Class B Shares		1.66			2.04			2.22			1.77			2.25			2.33
Class C Shares		2.13			2.35			2.35			1.90			2.25			2.33
Class Y Shares		1.20			1.17			1.14			0.74			1.07			1.18

e)

Distribution and Service Plan for Class A, B and C Shares - HIFSCO is the principal underwriter and distributor of the Fund. HIFSCO is engaged in distribution activities, which include marketing and distribution of shares through broker-dealers, financing distribution costs and maintaining financial books and records. For the six-month period ended April 30, 2009, HIFSCO received front-end load sales charges of $31 and contingent deferred sales charges of $9 from the Fund.

The Fund has adopted Distribution and Service Plans in accordance with Rule 12b-1 of the Investment Company Act of 1940, as amended, to compensate the distributor (HIFSCO) for activities intended to result in the sale and distribution of Classes A, B and C shares and for providing services for shareholders. The Rule 12b-1 plan applicable to Class A shares of the Funds provides for payment of a Rule 12b-1 fee of up to 0.35% of average daily net assets; however, the Board of Directors has currently authorized 12b-1 payments of only up to 0.25%. Some or all of the fee may be used for shareholder servicing expenses with the remainder used for distribution expenses. Some or the entire Rule 12b-1 fee for Class B shares may be remitted to broker-dealers for distribution and/or shareholder account services. Under the Class B Plan, the Fund pays the distributor 1.00% of the average daily net assets of Class B shares that are outstanding for 8 years or less, 0.25% of which is a fee for services provided to existing shareholders with the remainder used for distribution expenses. After eight years, Class B shares convert to Class A shares. Upon conversion to Class A shares, the Class A plan described above will apply to those shares. Under the Class C Plan, the Fund pays the Distributor

15

The Hartford Global Financial Services Fund

Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

1.00% of the average daily net assets of Class C shares outstanding, 0.25% of which is intended as a fee for services provided to existing shareholders with the remainder used for distribution expenses. For Class C shares, some or the entire fee may be remitted to broker-dealers for distribution and/or shareholder account services. The Fund’s 12b-1 fees are accrued daily and paid monthly.

	For the six-month period ended April 30, 2009, total sales commissions paid to affiliated brokers/dealers of The Hartford for distributing the Fund’s shares were $1. These commissions are in turn paid to sales representatives of the broker/dealers.
f)	Other Related Party Transactions – Certain officers of the Fund are directors and/or officers of HIFSCO and/or The Hartford or its subsidiaries. For the six-month period ended April 30, 2009, a portion of the Fund’s chief compliance officer’s salary was paid by the Fund in an amount, which rounds to zero. Hartford Administrative Services Company (“HASCO”), an indirect wholly owned subsidiary of The Hartford, provides transfer agent services to the Fund. HASCO was compensated $37 for providing such services. These fees are accrued daily and paid monthly.
g)	Payments from Affiliate:
	The total return in the accompanying financial highlights includes payment from affiliates. Had the payment from affiliates been excluded, the total return for the periods listed below would have been as follows:

	Impact from			Total Return
	Payment from			Excluding
	Affiliate for SEC			Payment from
	Settlement for the			Affiliate for the
	Year Ended			Year Ended
	October 31, 2007			October 31, 2007
Class A		0.02	%		8.40	%
Class B		0.02			7.73
Class C		0.02			7.55
Class Y		0.02			8.89

5.	Investment Transactions:
	For the six-month period ended April 30, 2009, the Fund’s aggregate purchases and sales of investment securities (excluding short-term investments) were as follows:

	Amount
Cost of Purchases for U.S. Government Obligations		9,382
Sales Proceeds for U.S. Government Obligations		14,459

16

6.	Capital Share Transactions:
	The following information is for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	For the Six-Month Period Ended April 30, 2009												For the Year Ended October 31, 2008
			Shares					Shares							Shares					Shares
			Issued for					Issued		Net Increase					Issued for					Issued		Net Increase
	Shares		Reinvested		Share			from		(Decrease) of			Shares		Reinvested		Shares			from		(Decrease) of
	Sold		Dividends		Redeemed			Merger		Shares			Sold		Dividends		Redeemed			Merger		Shares
Class A
Shares		250		66		(963	)		—		(647	)		2,959		259		(2,492	)		—		726
Amount	$	1,354	$	372	$	(5,342	)	$	—	$	(3,616	)	$	28,547	$	2,953	$	(22,327	)	$	—	$	9,173
Class B
Shares		22		12		(92	)		—		(58	)		169		37		(85	)		—		121
Amount	$	118	$	70	$	(474	)	$	—	$	(286	)	$	1,534	$	417	$	(805	)	$	—	$	1,146
Class C
Shares		64		15		(176	)		—		(97	)		425		52		(213	)		—		264
Amount	$	335	$	82	$	(903	)	$	—	$	(486	)	$	4,096	$	582	$	(1,986	)	$	—	$	2,692
Class Y
Shares		188		9		(153	)		—		44			94		16		(23	)		—		87
Amount	$	1,063	$	50	$	(708	)	$	—	$	405		$	911	$	190	$	(227	)	$	—	$	874

The following reflects the conversion of Class B Shares into Class A Shares (reflected as Class A Shares issued and Class B shares redeemed) for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	Shares		Dollars
For the Six-Month Period Ended April 30, 2009		17	$	88
For the Year Ended October 31, 2008		12	$	116

7.	Line of Credit:
	The Fund is one of several Hartford Funds that participate in a $500 million committed revolving line of credit facility. The facility is to be used for temporary or emergency purposes. Under the arrangement, the Fund is required to own securities having a market value in excess of 300% of the total bank borrowings. The interest rate on borrowings varies depending on the nature of the loan. The facility also requires a fee to be paid based on the amount of the commitment. During the six-month period ended April 30, 2009, the Fund did not have any borrowings under this facility.
8.	Proposed Reorganization:
	At a meeting held on February 4, 2009, the Board of Directors of The Hartford Mutual Funds, Inc. approved the reorganizations (each, a “Reorganization”) of The Hartford Global Communications Fund, The Hartford Global Financial Services Fund and The Hartford Global Technology Fund (each, an “Acquired Fund”) with and into The Hartford Global Equity Fund (the “Acquiring Fund”).
	In connection with the mergers, effective as of the close of business on or about April 30, 2009, all shares of The Hartford Global Communications Fund, The Hartford Global Financial Services Fund and The Hartford Global Technology Fund will no longer be sold to new investors or existing shareholders (except through reinvested dividends) or be eligible for exchanges from other Hartford Mutual Funds.
	The Board of Directors has called for a Special Meeting of Shareholders of each Acquired Fund (the “Meeting”) to be held on or about August 4, 2009, for the purpose of seeking the approval of an Agreement and Plan of Reorganization (“Reorganization Agreement”) with respect to each Acquired Fund. If approved, each Reorganization is expected to occur on or about August 28, 2009.

17

The Hartford Global Financial Services Fund

Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

	If each Reorganization Agreement is approved by the shareholders of the respective Acquired Fund, the Reorganization Agreement contemplates: (1) the transfer of all of the assets of the Acquired Fund with and into the Acquiring Fund in exchange for shares of the Acquiring Fund having equal net asset value of the Acquired Fund; (2) the assumption by the Acquiring Fund of all of the liabilities of each Acquired Fund; and (3) the distribution of shares of the Acquiring Fund to the shareholders of the Acquired Fund in complete liquidation of the Acquired Fund. Each shareholder of an Acquired Fund would receive shares of the Acquiring Fund equal in value to the shares of the Acquired Fund held by that shareholder as of the closing date of the respective Reorganization.
9.	Industry Classifications:
	Other than the industry classifications “Other Investment Pools and Funds” and “Exchange Traded Funds”, equity industry classifications used in this report are the Global Industry Classification Standard, which was developed by and is the exclusive property and service mark of MSCI, Inc. and Standard & Poor’s.

18

The Hartford Global Financial Services Fund

Financial Highlights — (Unaudited)

	— Selected Per-Share Data — (a)																											— Ratios and Supplemental Data —
																																			Ratio of			Ratio of			Ratio of
																																			Expenses			Expenses			Expenses
																																			to Average			to Average			to Average
																																			Net Assets			Net Assets			Net Assets
																																			Before			After			After
							Net																												Waivers			Waivers			Waivers
							Realized																												and			and			and
							and Un-										Distrib-								Net										Reimburse-			Reimburse-			Reimburse-			Ratio of
			Net		Pay-		realized						Dividends				utions								Increase			Net							ments and			ments and			ments and			Net Invest-			Port-
	Net Asset		Invest-		ments		Gain						from Net				from			Distri-					(Decrease)			Asset					Net Assets		Including			Including			Excluding			ment			folio
	Value at		ment		from		(Loss) on			Total from			Invest-				Realized			butions		Total			in Net			Value at					at End of		Expenses			Expenses			Expenses			Income to			Turn-
	Beginning		Income		(to)		Invest-			Investment			ment				Capital			from		Distri-			Asset			End of		Total			Period		not Subject			not Subject			not Subject			Average			over
Class	of Period		(Loss)		Affiliate		ments			Operations			Income				Gains			Capital		butions			Value			Period		Return(b)			(000’s)		to Cap(c)			to Cap(c)			to Cap(c)			Net Assets			Rate(d)
For the Six-Month Period Ended April 30, 2009 (Unaudited) (e)
A	$	6.87	$	0.06	$	—	$	(0.68	)	$	(0.62	)	$	(0.21	)		$	—		$	—	$	(0.21	)	$	(0.83	)	$	6.04		(8.77	)%(f)	$	10,900		2.18	%(g)		1.37	%(g)		1.37	%(g)		2.09	%(g)		53	%
B		6.74		0.05		—		(0.66	)		(0.61	)		(0.20	)			—			—		(0.20	)		(0.81	)		5.93		(8.89	) (f)		2,000		3.39	(g)		1.66	(g)		1.66	(g)		1.81	(g)		—
C		6.69		0.04		—		(0.67	)		(0.63	)		(0.16	)			—			—		(0.16	)		(0.79	)		5.90		(9.17	) (f)		3,196		2.92	(g)		2.13	(g)		2.13	(g)		1.33	(g)		—
Y		6.99		0.06		—		(0.69	)		(0.63	)		(0.26	)			—			—		(0.26	)		(0.89	)		6.10		(8.72	) (f)		1,438		1.42	(g)		1.20	(g)		1.20	(g)		2.17	(g)		—
For the Year Ended October 31, 2008 (e)
A		14.16		0.20		—		(5.76	)		(5.56	)		(0.14	)			(1.59	)		—		(1.73	)		(7.29	)		6.87		(44.03	)		16,849		1.64			1.60			1.60			2.10			132
B		13.87		0.16		—		(5.65	)		(5.49	)		(0.05	)			(1.59	)		—		(1.64	)		(7.13	)		6.74		(44.25	)		2,662		2.78			2.04			2.04			1.69			—
C		13.82		0.13		—		(5.61	)		(5.48	)		(0.06	)			(1.59	)		—		(1.65	)		(7.13	)		6.69		(44.39	)		4,267		2.48			2.35			2.35			1.43			—
Y		14.35		0.25		—		(5.84	)		(5.59	)		(0.18	)			(1.59	)		—		(1.77	)		(7.36	)		6.99		(43.70	)		1,340		1.17			1.17			1.17			2.59			—
For the Year Ended October 31, 2007
A		14.01		0.17		—		0.94			1.11			(0.11	)			(0.85	)		—		(0.96	)		0.15			14.16		8.42	(h)		24,420		1.61			1.60			1.60			1.31			104
B		13.74		0.10		—		0.90			1.00			(0.02	)			(0.85	)		—		(0.87	)		0.13			13.87		7.75	(h)		3,803		2.62			2.22			2.22			0.70			—
C		13.73		0.07		—		0.91			0.98			(0.04	)			(0.85	)		—		(0.89	)		0.09			13.82		7.57	(h)		5,164		2.43			2.35			2.35			0.58			—
Y		14.16		0.24		—		0.95			1.19			(0.15	)			(0.85	)		—		(1.00	)		0.19			14.35		8.91	(h)		1,506		1.14			1.14			1.14			1.85			—
For the Year Ended October 31, 2006
A		11.60		0.12		—		2.40			2.52			(0.11	)			—			—		(0.11	)		2.41			14.01		21.87			21,369		1.80			1.15			1.15			1.11			52
B		11.39		0.08		—		2.31			2.39			(0.04	)			—			—		(0.04	)		2.35			13.74		21.06			3,828		2.81			1.78			1.78			0.49			—
C		11.39		0.05		—		2.32			2.37			(0.03	)			—			—		(0.03	)		2.34			13.73		20.88			4,082		2.65			1.90			1.90			0.35			—
Y		11.73		0.19		—		2.40			2.59			(0.16	)			—			—		(0.16	)		2.43			14.16		22.24			942		1.34			0.75			0.75			1.52			—
For the Year Ended October 31, 2005
A		10.44		0.11		—		1.18			1.29			(0.13	)			—			—		(0.13	)		1.16			11.60		12.39			13,958		1.88			1.51			1.51			0.91			33
B		10.26		0.01		—		1.18			1.19			(0.06	)			—			—		(0.06	)		1.13			11.39		11.58			3,147		2.91			2.28			2.28			0.15			—
C		10.26		0.02		—		1.17			1.19			(0.06	)			—			—		(0.06	)		1.13			11.39		11.58			2,769		2.77			2.27			2.27			0.16			—
Y		10.55		0.12		—		1.24			1.36			(0.18	)			—			—		(0.18	)		1.18			11.73		12.91			773		1.36			1.09			1.09			1.30			—
For the Year Ended October 31, 2004 (e)
A		9.71		0.12		—		0.69			0.81			(0.08	)			—			—		(0.08	)		0.73			10.44		8.42			12,910		1.78			1.65			1.65			1.17			85
B		9.55		0.05		—		0.69			0.74			(0.03	)	��		—			—		(0.03	)		0.71			10.26		7.71			3,043		2.80			2.35			2.35			0.44			—
C		9.55		0.05		—		0.69			0.74			(0.03	)			—			—		(0.03	)		0.71			10.26		7.71			2,459		2.68			2.35			2.35			0.44			—
Y		9.79		0.17		—		0.71			0.88			(0.12	)			—			—		(0.12	)		0.76			10.55		9.06			642		1.27			1.20			1.20			1.54			—

(a)	Information presented relates to a share outstanding throughout the indicated period.
(b)	Assumes initial investment at net asset value at the beginning of each period, reinvestment of all distributions, the complete redemption of the investment at net asset value at the end of each period and no sales charge. Total return would be reduced if sales charges were taken into account.
(c)	Ratios do not include fees paid indirectly (See Expenses in the accompanying Notes to Financial Statements).
(d)	Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between the classes of shares issued.
(e)	Per share amounts have been calculated using average shares outstanding method.
(f)	Not annualized.
(g)	Annualized.
(h)	Total return without the inclusion of the Payments from (to) Affiliate, as noted on the Statement of Operations, can be found in Expenses in the accompanying Notes to Financial Statements.

19

The Hartford Global Financial Services Fund

Directors and Officers (Unaudited)

The Board of Directors appoints officers who are responsible for the day-to-day operations of the Fund and who execute policies formulated by the Directors. Each director serves until his or her death, resignation, or retirement or until the next annual meeting of shareholders is held or until his or her successor is elected and qualifies.

Directors and officers who are employed by or who have a financial interest in The Hartford are considered “interested” persons of the Fund pursuant to the Investment Company Act of 1940, as amended. Each officer and three of the Fund’s directors, as noted in the chart below, are “interested” persons of the Fund. Each director serves as a director for The Hartford Mutual Funds, Inc., The Hartford Mutual Funds II, Inc., The Hartford Income Shares Fund, Inc., Hartford Series Fund, Inc., and Hartford HLS Series Fund II, Inc., which collectively consist of 100 funds. Correspondence may be sent to directors and officers c/o Hartford Mutual Funds, P.O. Box 2999, Hartford, Connecticut 06104-2999, except that correspondence to Ms. Fagely may be sent to 500 Bielenberg Drive, Woodbury, Minnesota 55125.

The table below sets forth, for each director and officer, his or her name, year of birth, current position with the Fund and date first elected or appointed to The Hartford Mutual Funds, Inc. (“MF”) and The Hartford Mutual Funds II, Inc. (“MF2”), principal occupation, and, for directors, other directorships held. The Fund’s statement of additional information contains further information on the directors and is available free of charge by calling 1-888-843-7824 or writing to Hartford Mutual Funds, P.O. Box 64387, St. Paul, MN 55164-0387.

Information on the aggregate remuneration paid to the directors of the Fund can be found in the Statement of Operations herein. The Fund pays a portion of the Chief Compliance Officer’s compensation, but does not pay salaries or compensation to any of its officers or directors who are employed by The Hartford.

Non-Interested Directors

Lynn S. Birdsong (1946) Director since 2003, Co-Chairman of the Investment Committee

Mr. Birdsong is a private investor. Since 1981, Mr. Birdsong has been a partner in Birdsong Company, an advertising specialty firm. Since 2003, Mr. Birdsong has been an independent director of The Japan Fund. From 2003 to March 2005, Mr. Birdsong was an independent director of the Atlantic Whitehall Funds. From 1979 to 2002, Mr. Birdsong was a managing director of Zurich Scudder Investments, an investment management firm. During his employment with Scudder, Mr. Birdsong was an interested director of The Japan Fund.

Robert M. Gavin, Jr. (1940) Director since 2002 (MF) and 1986 (MF2), Chairman of the Board since 2004

Dr. Gavin is an educational consultant. Prior to September 1, 2001, he was President of Cranbrook Education Community and prior to July 1996, he was President of Macalester College, St. Paul, Minnesota.

Duane E. Hill (1945) Director since 2001 (MF) and 2002 (MF2), Chairman of the Nominating Committee

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

Sandra S. Jaffee (1941) Director since 2005

Ms. Jaffee is Chairman and Chief Executive Officer of Fortent (formerly Searchspace Group), a leading provider of compliance/regulatory technology to financial institutions. Ms. Jaffee served as an Entrepreneur in Residence with Warburg Pincus, a private equity firm, from August 2004 to August 2005. From September 1995 to July 2004, Ms. Jaffee served as Executive Vice President at Citigroup, where she was President and Chief Executive Officer of Citibank’s Global Securities Services (1995-2003).

William P. Johnston (1944) Director since 2005, Chairman of the Compliance Committee

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

20

Phillip O. Peterson (1944) Director since 2002 (MF) and 2000 (MF2), Chairman of the Audit Committee

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

Lemma W. Senbet (1946) Director since 2005

Dr. Senbet is the William E. Mayer Chair Professor of Finance at the University of Maryland, Robert H. Smith School of Business. He was chair of the Finance Department during 1998-2006. Previously he was an endowed professor of finance at the University of Wisconsin-Madison. Also, he was director of the Fortis Funds from March 2000-July 2002. Dr. Senbet served the finance profession in various capacities, including as director of the American Finance Association and President of the Western Finance Association. In 2006, Dr. Senbet was inducted Fellow of Financial Management Association International for his career-long distinguished scholarship and professional service.

Interested Directors and Officers

Thomas M. Marra* (1958) Director since 2002

Mr. Marra has served as President and Chief Operating Officer of The Hartford Financial Services Group, Inc. (“The Hartford”) since 2007. Mr. Marra currently serves as Director of Hartford Life, Inc. (“HL, Inc.”). Mr. Marra served as Chief Operating Officer of Hartford Life Insurance Company, Inc. (“Hartford Life”) (2000-2008), as President of Hartford Life (2002-2008) and as Director of Hartford Life’s Investment Products Division from 1998 to 2000.

* On February 24, 2009, The Hartford and Mr. Marra determined to enter into a mutually agreed separation whereby Mr. Marra will retire, and his role as an executive officer and employee of The Hartford will terminate, effective July 3, 2009. Mr. Marra will resign his position as a Director of the Fund effective June 25, 2009.

Lowndes A. Smith (1939) Director since 2002, Co-Chairman of the Investment Committee

Mr. Smith served as Vice Chairman of The Hartford from February 1997 to January 2002, as President and Chief Executive Officer of Hartford Life, Inc. from February 1997 to January 2002, and as President and Chief Operating Officer of The Hartford Life Insurance Companies from January 1989 to January 2002. Mr. Smith serves as a Director of White Mountains Insurance Group, Ltd., One Beacon Insurance, Symetra Financial and as a Managing Director of Whittington Gray Associates.

John C. Walters* (1962) Director since 2008

Mr. Walters currently serves as Chief Executive Officer, President and Director of HL, Inc. Mr. Walters previously served as President of the U.S. Wealth Management Division of Hartford Life, Inc., as Co-Chief Operating Officer of Hartford Life Insurance Company (2007-2008) and as Executive Vice President and Director of its Investment Products Division (2000-2008). Mr. Walters also serves as Chairman of the Board, Chief Executive Officer, President and Director of Hartford Life Insurance Company and as Executive Vice President of The Hartford. In addition, Mr. Walters is Manager of HL Investment Advisors, LLC (“HL Advisors”).

* Mr. Walters previously served as President and Chief Executive Officer of the Fund (2007 – 2009).

Other Officers

Robert M. Arena, Jr. (1968) President and Chief Executive Officer since 2009 (served as Vice President of the Fund (2006 – 2009))

Mr. Arena serves as Executive Vice President of Hartford Life Insurance Company, (“Hartford Life”). Additionally, Mr. Arena is Director and Senior Vice President of Hartford Administrative Services Company, (“HASCO”), Manager, Chief Executive Officer and President of Hartford Investment Financial Services, LLC (“HIFSCO”) and HL Advisors. Prior to joining The Hartford in 2004, he was Senior Vice President in charge of Product Management for American Skandia/Prudential in the individual annuities division. Mr. Arena joined American Skandia in 1996.

Tamara L. Fagely (1958) Vice President, Treasurer and Controller since 2002 (MF) 1993 (MF2)

Ms. Fagely has been a Vice President of HASCO since 1998 and Chief Financial Officer since 2006. Currently Ms. Fagely is a Vice President of Hartford Life. She served as Assistant Vice President of Hartford Life from December 2001 through March 2005. In addition, Ms. Fagely is Controller and Chief Financial Officer of HIFSCO.

Brian Ferrell (1962) AML Compliance Officer since 2008

Mr. Ferrell has served as Assistant Vice President and AML Compliance Officer for The Hartford since 2006 and as AML Compliance Officer for HASCO and Hartford Investor Services Company, LLC (“HISC”) since 2008. Prior to joining The Hartford in 2006, Mr. Ferrell held various positions at the U.S. Department of the Treasury, (the “Treasury”), from 2001 to 2006 where he served as Chief Counsel for the Treasury’s Financial Crimes Enforcement Network, (“FinCEN”) from 2005 – 2006.

21

The Hartford Global Financial Services Fund
Directors and Officers (Unaudited) — (continued)

Thomas D. Jones, III (1965) Vice President and Chief Compliance Officer since 2006

Mr. Jones serves as Chief Compliance Officer for the Hartford Mutual Funds and Vice President and Director of Securities Compliance for The Hartford. He is also Vice President of HIFSCO, HL Advisors, and Hartford Life Insurance Company. Mr. Jones joined The Hartford in 2006 from SEI Investments, where he served as Chief Compliance Officer for its mutual funds and investment advisers. Prior to joining SEI, Mr. Jones was First Vice President and Compliance Director for Merrill Lynch Investment Managers (Americas) (“MLIM”), where he worked from 1992-2004. At MLIM, Mr. Jones was responsible for the compliance oversight of various investment products, including mutual funds, wrap accounts, institutional accounts and alternative investments.

Edward P. Macdonald (1967) Vice President, Secretary and Chief Legal Officer since 2005

Mr. Macdonald serves as Assistant General Counsel and Assistant Vice President of The Hartford and Chief Legal Officer and Vice President of HIFSCO. He also serves as Vice President and Secretary of HASCO, Assistant Vice President of Hartford Life, and Chief Legal Officer, Secretary and Vice President of HL Advisors. Prior to joining The Hartford in 2005, Mr. Macdonald was Chief Counsel, Investment Management for Prudential Financial (formerly American Skandia Investment Services, Inc.). He joined Prudential in April 1999.

Vernon J. Meyer (1964) Vice President since 2006

Mr. Meyer serves as Senior Vice President of Hartford Life and as Director of its Investment Advisory Group in the Individual Markets Group segment. He also serves as Senior Vice President of HIFSCO and HL Advisors. Prior to joining The Hartford in 2004, Mr. Meyer was with MassMutual which he joined in 1987.

D. Keith Sloane (1960) Vice President since 2009

Mr. Sloane is a Senior Vice President of Hartford Life where he serves as Director of mutual fund product management for The Hartford’s mutual funds and 529 college savings businesses. Additionally, Mr. Sloane currently serves as Senior Vice President of HIFSCO, HL Advisors, and HASCO. Prior to joining The Hartford in 2007, Mr. Sloane was Director of product marketing and led the mutual fund business for Wachovia Securities (“Wachovia”) in their investment products group. Mr. Sloane joined Wachovia in 1995.

Jane Wolak (1961) Vice President since 2009

Ms. Wolak currently serves as Vice President of Hartford Life. Ms. Wolak joined Hartford Life as Vice President, Retail Product Services in May 2007. She is also Vice President of HASCO. Previously, Ms. Wolak was with Sun Life Financial where she held the position of Vice President, Service Center Operations from 2001 – 2007.

HOW TO OBTAIN A COPY OF THE FUND’S PROXY VOTING POLICIES AND VOTING RECORDS

A description of the policies and procedures that the Fund uses to determine how to vote proxies relating to portfolio securities and a record of how the Fund voted any proxies for the twelve-month period ended June 30, 2008 is available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov.

QUARTERLY PORTFOLIO HOLDINGS INFORMATION

The Fund files a complete schedule of portfolio holdings with the Commission for the first and third quarters of each fiscal year on Form N-Q. The Fund’s Forms are available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov. The Form N-Q may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330.

22

The Hartford Global Financial Services Fund

Expense Example (Unaudited)

Your Fund’s Expenses

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments and contingent deferred sales charges (CDSC) (2) ongoing costs including management fees; distribution fees; and other fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the period of October 31, 2008 through April 30, 2009.

Actual Expenses

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

Hypothetical Example for Comparison Purposes

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

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads) and CDSC. Therefore, the second line 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 are equal to the Fund’s annualized expense ratios multiplied by average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

	Actual return						Hypothetical (5% return before expenses)
					Expenses paid						Expenses paid					Days in
					during the period						during the period					the		Days
	Beginning		Ending Account		October 31, 2008		Beginning		Ending Account		October 31,		Annualized			current		in the
	Account Value		Value		through		Account Value		Value		2008 through		expense			1/2		full
	October 31, 2008		April 30, 2009		April 30, 2009		October 31, 2008		April 30, 2009		April 30, 2009		ratio			year		year
Class A	$	1,000.00	$	912.34	$	6.49	$	1,000.00	$	1,018.00	$	6.85		1.37	%		181		365
Class B	$	1,000.00	$	911.06	$	7.86	$	1,000.00	$	1,016.56	$	8.30		1.66			181		365
Class C	$	1,000.00	$	908.31	$	10.07	$	1,000.00	$	1,014.23	$	10.63		2.13			181		365
Class Y	$	1,000.00	$	912.82	$	5.69	$	1,000.00	$	1,018.84	$	6.00		1.20			181		365

23

The Hartford Global Growth Fund

Table of Contents

Manager Discussions (Unaudited)	2
Financial Statements
Schedule of Investments at April 30, 2009 (Unaudited)	4
Statement of Assets and Liabilities at April 30, 2009 (Unaudited)	7
Statement of Operations for the Six Month Period Ended April 30, 2009 (Unaudited)	8
Statement of Changes in Net Assets for the Six Month Period Ended April 30, 2009 (Unaudited) and the Year Ended October 31, 2008	9
Notes to Financial Statements (Unaudited)	10
Financial Highlights (Unaudited)	20
Directors and Officers (Unaudited)	21
How to Obtain a Copy of the Fund’s Proxy Voting Policies and Proxy Voting Records (Unaudited)	23
Quarterly Portfolio Holdings Information (Unaudited)	23
Expense Example (Unaudited)	24

The Hartford Global Growth Fund

(subadvised by Wellington Management Company, LLP)

Performance Overview(1) 4/30/99 - 4/30/09
Growth of a $10,000 investment in Class A which includes Sales Charge

MSCI World Growth Index is a broad-based unmanaged market capitalization-weighted total return index which measures the performance of growth securities in 23 developed-country global equity markets including the U.S., Canada, Europe, Australia, New Zealand and the Far East.

You cannot invest directly in an index.

The value of shares will fluctuate so that, when redeemed, shares may be worth more or less than their original cost. The chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.

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

Investment objective — Seeks growth of captial.

Average Annual Total Returns(2,3,4) (as of 4/30/09)

	Inception		1			5			10			Since
	Date		Year			Year			Year			Inception
Global Growth A#		9/30/98		-46.45	%		-4.71	%		-0.86	%		2.56	%
Global Growth A##		9/30/98		-49.39	%		-5.78	%		-1.42	%		2.02	%
Global Growth B#		9/30/98		-46.73	%		-5.38	%	NA		*	NA		*
Global Growth B##		9/30/98		-49.39	%		-5.69	%	NA		*	NA		*
Global Growth C#		9/30/98		-46.92	%		-5.42	%		-1.56	%		1.85	%
Global Growth C##		9/30/98		-47.45	%		-5.42	%		-1.56	%		1.85	%
Global Growth R3#		9/30/98		-46.63	%		-4.55	%		-0.51	%		2.94	%
Global Growth R4#		9/30/98		-46.59	%		-4.48	%		-0.48	%		2.97	%
Global Growth R5#		9/30/98		-46.39	%		-4.29	%		-0.38	%		3.07	%
Global Growth Y#		9/30/98		-46.30	%		-4.23	%		-0.34	%		3.10	%

#	Without sales charge
##	With sales charge
NA	Not Applicable
*	10 year and inception returns are not applicable for Class B because after 8 years Class B converts to Class A.

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)	Growth of a $10,000 investment in Classes B, C, R3, R4, R5 and Y shares will vary from results seen above due to differences in the expenses charged to these share classes.
(2)	Class R3, R4 and R5 shares commenced operations on 12/22/06. Performance prior to 12/22/06 reflects Class Y performance.
(3)	The initial investment in Class A shares reflects the maximum sales charge and Classes B and C reflect CDSC.
(4)	Total returns presented above were calculated using the Fund’s net asset value available to shareholders for sale or redemption of Fund shares on April 30, 2009, which excludes investment transactions as of this date.

Portfolio Managers
Andrew S. Offit, CPA	Jean-Marc Berteaux	Matthew D. Hudson, CFA
Senior Vice President, Partner	Senior Vice President, Partner	Vice President

How did the Fund perform?

The Class A shares of The Hartford Global Growth Fund returned -1.71%, before sales charge, for the six-month period ended April 30, 2009, outperforming its benchmark, the MSCI World Growth Index, which returned -3.87% for the same period. The Fund also outperformed the -4.35% return of the average fund in the Lipper Global Large Cap Growth Funds peer group, a group of funds with investment strategies similar to those of the fund.

Why did the Fund perform this way?

Over the six-month period to April 30, global equities declined amid increasing signs of a deeper and more protracted recession and then rebounded in March and April as governments around the world increased their involvement to help mitigate the financial crisis. Some
encouraging economic data added fuel to the recovery. In this environment, the MSCI World Growth Index (-3.9%) outperformed the MSCI World Value Index (-6.4%). Within the MSCI World Growth Index, seven out of ten sectors posted negative returns. Utilities (-15%), Health Care (-11%), and Financials (-11%) fell the most, while Materials (10%), Information Technology (5%), and Telecommunication Services (4%) were the only sectors to post positive returns.

The Fund’s outperformance versus the MSCI World Growth Index was driven primarily by security selection, which was positive in eight of ten sectors. Selection was strongest in Health Care, Financials, and Energy. This was partially offset by weaker stock selection in Consumer Discretionary and Materials. Sector allocation,

2

which is a residual of bottom-up (i.e. stock by stock fundamental research) security selection, also contributed positively to relative (i.e. performance of the Fund as measured against the benchmark) performance. The Fund’s overweight (i.e. the Fund’s sector position was greater than the benchmark position) to Telecommunication Services and underweights (i.e. the Fund’s sector position was less than the benchmark position) to Utilities and Consumer Staples helped benchmark-relative returns.

MetroPCS (Telecommunications), Wyeth (Health Care), and Vestas Wind Systems (Industrials) were the leading contributors to benchmark-relative performance. Shares of wireless telecommunications services provider MetroPCS rose as the company benefited from consumers who are trading down to cheaper phone service amid the global recession. Shares of U.S. pharmaceutical company Wyeth rose upon the announcement of Pfizer’s agreement to purchase the company. Shares of Denmark-based wind power equipment and services company Vestas outperformed due to sustained top-line growth and solid long-term fundamentals. Top absolute (i.e. total return) contributors included diversified financial services company Goldman Sachs (Financials) and BHP Billiton (Industrials).

The top detractors from the Fund’s relative performance were Las Vegas Sands (Consumer Discretionary), Wells Fargo (Financials), and Vimpel-Communications (Telecommunication Services). Shares of Las Vegas Sands, a developer and operator of hotel, gaming, and resort businesses, fell due to disappointing earnings and concerns that the company’s balance sheet was overstretched. Diversified financial services company Wells Fargo saw its shares fall sharply as investors became concerned about the potential negative impact of the Wachovia acquisition on the company’s balance sheet. Shares of Russian wireless operator Vimpel-Communications fell amid significant economic uncertainty in Russia and weakness in the ruble relative to the U.S. dollar. Significant detractors from absolute returns included software company Electronic Arts (Information Technology) and biopharmaceutical company Celgene (Health Care). We eliminated our positions in Las Vegas Sands and Wells Fargo.

What is the outlook?

We believe that government action is, in small increments, helping to reduce the probability of a worst-case outcome for the economy. Against this backdrop, we continue to seek globally competitive growth companies within growing sectors.

Portfolio construction is a bottom-up process based on intensive company research. Allocations among sectors are the result of individual stock decisions. At the end of the period, our stock-by-stock investment process resulted in greater-than-benchmark weights in Telecommunication Services, Health Care, and Energy stocks. The Fund held below-benchmark weights in Consumer Staples, Utilities, and Consumer Discretionary names. While still underweight relative to the benchmark, exposure to Consumer Discretionary increased during the period through purchases of high quality retailers as we are beginning to see signs of an improving economy. Top retail positions at the end of April included Lowe’s and Li & Fung.

Telecommunication Services was the Fund’s largest overweight as of April 30, with significant positions in wireless communications service provider MetroPCS and wireless communication infrastructure company American Tower.

Diversification by Industry
as of April 30, 2009

	Percentage of
Industry	Net Assets
Automobiles & Components		1.6	%
Banks		2.0
Capital Goods		10.9
Consumer Services		0.5
Diversified Financials		4.1
Energy		9.7
Food & Staples Retailing		2.3
Food, Beverage & Tobacco		4.9
Health Care Equipment & Services		4.3
Household & Personal Products		2.6
Insurance		3.0
Materials		7.8
Media		1.5
Pharmaceuticals, Biotechnology & Life Sciences		11.2
Retailing		4.6
Semiconductors & Semiconductor Equipment		1.8
Software & Services		8.4
Technology Hardware & Equipment		8.8
Telecommunication Services		7.5
Short-Term Investments		1.9
Other Assets and Liabilities		0.6
Total		100.0	%

Diversification by Country
as of April 30, 2009

	Percentage of
Country	Net Assets
Australia		1.7	%
Brazil		0.8
Canada		4.7
China		0.7
Denmark		2.2
France		3.2
Germany		5.7
Hong Kong		0.8
Israel		1.7
Japan		4.6
Luxembourg		0.5
Netherlands		1.2
Norway		1.0
Spain		2.2
Switzerland		4.6
Taiwan		1.1
United Kingdom		7.1
United States		53.7
Short-Term Investments		1.9
Other Assets and Liabilities		0.6
Total		100.0	%

3

The Hartford Global Growth Fund

Schedule of Investments
April 30, 2009 (Unaudited)
(000’s Omitted)

Shares or Principal Amount			Market Value ╪
COMMON STOCKS - 97.5%
		Automobiles & Components - 1.6%
	104	Daimler AG	$	3,726
	482	Nissan Motor Co., Ltd. *		2,514
				6,240
		Banks - 2.0%
	217	Itau Unibanco Banco Multiplo S.A. ADR		2,978
	312	Standard Chartered plc		4,819
				7,797
		Capital Goods - 10.9%
	64	Alstom RGPT		3,992
	65	Danaher Corp.		3,822
	105	Deere & Co.		4,328
	129	Illinois Tool Works, Inc.		4,221
	84	Lockheed Martin Corp.		6,573
	44	Parker-Hannifin Corp.		1,996
	83	Siemens AG		5,576
	167	Sunpower Corp. •		4,564
	95	Vestas Wind Systems A/S •		6,199
				41,271
		Consumer Services - 0.5%
	138	Royal Caribbean Cruises Ltd.		2,031
		Diversified Financials - 4.1%
	41	Goldman Sachs Group, Inc.		5,243
	166	JP Morgan Chase & Co.		5,475
	149	Julius Baer Holding Ltd.		4,898
				15,616
		Energy - 9.7%
	293	BG Group plc		4,676
	116	Canadian Natural Resources Ltd.		5,324
	81	Hess Corp.		4,460
	129	National Oilwell Varco, Inc. •		3,909
	133	Schlumberger Ltd.		6,501
	342	Seadrill Ltd.		3,652
	88	Total S.A.		4,386
	113	XTO Energy, Inc.		3,924
				36,832
		Food & Staples Retailing - 2.3%
	420	Koninklijke Ahold N.V.		4,600
	94	Metro AG		4,014
				8,614
		Food, Beverage & Tobacco - 4.9%
	246	British American Tobacco plc		5,936
	46	Carlsberg A/S Class B		2,221
	70	Groupe Danone ⌂		3,347
	213	Nestle S.A.		6,957
				18,461
		Health Care Equipment & Services - 4.3%
	97	Fresenius Medical Care AG & Co.		3,774
	17	Intuitive Surgical, Inc. •		2,501
	157	St. Jude Medical, Inc. •		5,259
	219	UnitedHealth Group, Inc.		5,151
				16,685
		Household & Personal Products - 2.6%
	80	Clorox Co.		4,473
	140	Reckitt Benckiser Group plc		5,481
				9,954
		Insurance - 3.0%
	30	Muenchener Rueckversicherungs NPV		4,126
	425	Ping An Insurance (Group) Co.		2,622
	158	Prudential Financial, Inc.		4,563
				11,311
		Materials - 7.8%
	122	Barrick Gold Corp.		3,541
	314	BHP Billiton plc		6,519
	83	Monsanto Co.		7,063
	62	Potash Corp. of Saskatchewan, Inc.		5,353
	54	Praxair, Inc.		4,044
	73	Shin-Etsu Chemical Co., Ltd.		3,524
				30,044
		Media - 1.5%
	358	Comcast Corp. Class A		5,536
		Pharmaceuticals, Biotechnology & Life Sciences - 11.2%
	108	Abbott Laboratories		4,516
	78	Allergan, Inc.		3,658
	114	Amgen, Inc. •		5,511
	59	Celgene Corp. •		2,516
	255	CSL Ltd.		6,360
	218	Daiichi Sankyo Co., Ltd.		3,650
	98	Gilead Sciences, Inc. •		4,470
	46	Roche Holding AG		5,741
	145	Teva Pharmaceutical Industries Ltd. ADR		6,342
				42,764
		Retailing - 4.6%
	51	Best Buy Co., Inc.		1,965
	182	Gap, Inc.		2,821
	73	Industria de Diseno Textil S.A.		3,114
	46	Kohl’s Corp. •		2,095
	1,140	Li & Fung Ltd.		3,203
	221	Lowe’s Co., Inc.		4,758
				17,956
		Semiconductors & Semiconductor Equipment - 1.8%
	175	Altera Corp.		2,854
	386	Taiwan Semiconductor Manufacturing Co., Ltd. ADR		4,077
	��			6,931
		Software & Services - 8.4%
	101	Electronic Arts, Inc. •		2,045
	14	Google, Inc. •		5,631
	15	Nintendo Co., Ltd.		4,006
	505	Oracle Corp. •		9,773
	78	Visa, Inc. ‡		5,047
	338	Western Union Co.		5,665
				32,167
		Technology Hardware & Equipment - 8.8%
	40	Apple, Inc. •		5,021
	469	Cisco Systems, Inc.•		9,057
	151	Hewlett-Packard Co.		5,436
	255	NetApp, Inc. •		4,661
	126	Qualcomm, Inc.		5,333
	58	Research In Motion Ltd. •		4,003
				33,511
		Telecommunication Services - 7.5%
	213	American Tower Corp. Class A •		6,774
	608	MetroPCS Communications, Inc. •		10,391
	40	Millicom International Cellular S.A.		1,929
	257	Softbank Corp.		4,067

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

4

Shares or Principal Amount					Market Value ╪
COMMON STOCKS - 97.5% - (continued)
		Telecommunication Services - 7.5% - (continued)
	289	Telefonica S.A.			$	5,481
						28,642
		Total common stocks (cost $400,414)			$	372,363
		Total long-term investments (cost $400,414)			$	372,363
SHORT-TERM INVESTMENTS - 1.9%
		Repurchase Agreements - 1.9%
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $1,756, collateralized by GNMA 4.50% - 6.50%, 2038 - 2039, value of $1,791)
$	1,756	0.18%, 04/30/2009			$	1,756
		BNP Paribas Securities Corp. TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $2,101, collateralized by FHLMC 4.50% - 6.50%, 2035 - 2039, FNMA 4.50% - 6.50%, 2034 - 2047, value of $2,143)
	2,101	0.17%, 04/30/2009				2,101
		Deutsche Bank Securities TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $2,936, collateralized by FHLMC 4.00% - 7.00%, 2021 - 2039, FNMA 6.00% - 7.00%, 2034 - 2038, GNMA 4.50% - 7.00%, 2024 - 2039, value of $2,994)
	2,935	0.17%, 04/30/2009				2,935
		UBS Securities, Inc. Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $10, collateralized by U.S. Treasury Bond 7.50%, 2024, value of $10)
	10	0.14%, 04/30/2009				10
		UBS Securities, Inc. TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $633, collateralized by FHLMC 8.00% - 15.00%, 2009 - 2021, FNMA 3.50% - 15.50%, 2012 - 2039, value of $646)
	633	0.16%, 04/30/2009				633
						7,435
		Total short-term investments (cost $7,435)			$	7,435
		Total investments (cost $407,849) ▲	99.4	%	$	379,798
		Other assets and liabilities	0.6	%		2,210
		Total net assets	100.0	%	$	382,008

Note:	Percentage of investments as shown is the ratio of the total market value to total net assets. Market value of investments in foreign securities represents 43.65% of total net assets at April 30, 2009.
	Foreign securities that are principally traded on certain foreign markets are adjusted daily pursuant to a third party pricing service methodology approved by the Board of Directors in order to reflect an adjustment for factors occurring after the close of the foreign market but before the close of the New York Stock Exchange.
▲	At April 30, 2009, the cost of securities for federal income tax purposes was $413,856 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	22,779
Unrealized Depreciation		(56,837	)
Net Unrealized Depreciation	$	(34,058	)

•	Currently non-income producing.
‡	This security, or a portion of this security, has been segregated to cover funding requirements on investment transactions settling in the future.
*	The cost of securities purchased on a when-issued or delayed delivery basis at April 30, 2009 was $623.
⌂	The following securities are considered illiquid. Illiquid securities are often purchased in private placement transactions, are often not registered under the Securities Act of 1933 and may have contractual restrictions on resale. A security may also be considered illiquid if the security lacks a readily available market or if its valuation has not changed for a certain period of time.

Period	Shares/
Acquired	Par		Security	Cost Basis
09/2008 - 12/2008		70	Groupe Danone	$	4,730

The aggregate value of these securities at April 30, 2009 was $3,347 which represents 0.88% of total net assets.

Forward Foreign Currency Contracts Outstanding at April 30, 2009

						Unrealized
	Market		Contract		Delivery	Appreciation/
Description	Value ╪		Amount		Date	(Depreciation)
Euro (Buy)	$	764	$	769	05/04/09	$	(5	)
Japanese Yen (Sell)		119		120	05/08/09		1
Swiss Franc (Sell)		484		482	05/04/09		(2	)
						$	(6	)

╪ See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of securities.

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

5

The Hartford Global Growth Fund

Schedule of Investments — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

Diversification by Country
as of April 30, 2009

	Percentage of
Country	Net Assets
Australia		1.7	%
Brazil		0.8
Canada		4.7
China		0.7
Denmark		2.2
France		3.2
Germany		5.7
Hong Kong		0.8
Israel		1.7
Japan		4.6
Luxembourg		0.5
Netherlands		1.2
Norway		1.0
Spain		2.2
Switzerland		4.6
Taiwan		1.1
United Kingdom		7.1
United States		53.7
Short-Term Investments		1.9
Other Assets and Liabilities		0.6
Total		100.0	%

FAS 157 Disclosure of Investment Valuation Hierarchy Levels

Assets:
Investment in securities — Level 1	$	244,664
Investment in securities — Level 2		135,134
Total	$	379,798
Other financial instruments — Level 2 *		1
Total	$	1
Liabilities:
Other financial instruments — Level 2 *		7
Total	$	7

* Other financial instruments are derivative instruments not reflected in the Schedule of Investments, such as futures, forwards and swap contracts, which are valued at the unrealized appreciation/depreciation on the investment.

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

6

The Hartford Global Growth Fund

Statement of Assets and Liabilities
April 30, 2009 (Unaudited)
(000’s Omitted)

Assets:
Investments in securities, at fair value (cost $407,849)	$	379,798
Cash		1
Foreign currency on deposit with custodian (cost $—)		—
Unrealized appreciation on forward foreign currency contracts		1
Receivables:
Investment securities sold		2,920
Fund shares sold		54
Dividends and interest		1,324
Other assets		116
Total assets		384,214
Liabilities:
Unrealized depreciation on forward foreign currency contracts		7
Payables:
Investment securities purchased		1,663
Fund shares redeemed		240
Investment management fees		53
Distribution fees		14
Accrued expenses		229
Total liabilities		2,206
Net assets	$	382,008
Summary of Net Assets:
Capital stock and paid-in-capital		568,066
Accumulated undistributed net investment income		1,338
Accumulated net realized loss on investments and foreign currency transactions		(159,364	)
Unrealized depreciation of investments and the translation of assets and liabilities denominated in foreign currency		(28,032	)
Net assets	$	382,008
Shares authorized		450,000
Par value	$	0.001
Class A: Net asset value per share/Maximum offering price per share	$	10.32/$10.92
Shares outstanding		18,115
Net assets	$	186,916
Class B: Net asset value per share	$	9.45
Shares outstanding		1,886
Net assets	$	17,827
Class C: Net asset value per share	$	9.47
Shares outstanding		2,602
Net assets	$	24,645
Class R3: Net asset value per share	$	10.76
Shares outstanding		2
Net assets	$	18
Class R4: Net asset value per share	$	10.80
Shares outstanding		4
Net assets	$	48
Class R5: Net asset value per share	$	10.91
Shares outstanding		1
Net assets	$	6
Class Y: Net asset value per share	$	10.95
Shares outstanding		13,930
Net assets	$	152,548

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

7

The Hartford Global Growth Fund

Statement of Operations
For the Six Month Period Ended April 30, 2009 (Unaudited)
(000’s Omitted)

Investment Income:
Dividends	$	3,637
Interest		10
Securities lending		19
Less: Foreign tax withheld		(334	)
Total investment income		3,332
Expenses:
Investment management fees		1,537
Transfer agent fees		816
Distribution fees
Class A		226
Class B		94
Class C		123
Class R3		—
Class R4		—
Custodian fees		17
Accounting services		29
Registration and filing fees		50
Board of Directors’ fees		7
Audit fees		10
Other expenses		100
Total expenses (before waivers and fees paid indirectly)		3,009
Expense waivers		(517	)
Transfer agent fee waivers		(477	)
Commission recapture		(6	)
Custodian fee offset		—
Total waivers and fees paid indirectly		(1,000	)
Total expenses, net		2,009
Net investment income		1,323
Net Realized Loss on Investments and Foreign Currency Transactions:
Net realized loss on investments in securities		(108,340	)
Net realized gain on foreign currency transactions		14
Net Realized Loss on Investments and Foreign Currency Transactions		(108,326	)
Net Changes in Unrealized Appreciation of Investments and Foreign Currency Transactions:
Net unrealized appreciation of investments		98,633
Net unrealized appreciation on translation of other assets and liabilities in foreign currencies		13
Net Changes in Unrealized Appreciation of Investments and Foreign Currency Transactions		98,646
Net Loss on Investments and Foreign Currency Transactions		(9,680	)
Net Decrease in Net Assets Resulting from Operations	$	(8,357	)

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

8

The Hartford Global Growth Fund

Statement of Changes in Net Assets

(000’s Omitted)

	For the Six-Month
	Period Ended			For the
	April 30, 2009			Year Ended
	(Unaudited)			October 31, 2008
Operations:
Net investment income (loss)	$	1,323		$	(1,079	)
Net realized loss on investments and foreign currency transactions		(108,326	)		(50,551	)
Net unrealized appreciation (depreciation) of investments and foreign currency transactions		98,646			(377,759	)
Net decrease in net assets resulting from operations		(8,357	)		(429,389	)
Distributions to Shareholders:
From net realized gain on investments
Class A		—			(52,363	)
Class B		—			(8,994	)
Class C		—			(8,596	)
Class R3		—			(1	)
Class R4		—			(1	)
Class R5		—			(1	)
Class Y		—			(19,921	)
Total distributions		—			(89,877	)
Capital Share Transactions:
Class A		(20,137	)		22,809
Class B		(4,845	)		(13,917	)
Class C		(4,584	)		235
Class R3		7			9
Class R4		37			17
Class R5		(5	)		11
Class Y		17,332			69,486
Net increase (decrease) from capital share transactions		(12,195	)		78,650
Net decrease in net assets		(20,552	)		(440,616	)
Net Assets:
Beginning of period		402,560			843,176
End of period	$	382,008		$	402,560
Accumulated undistributed net investment income (loss)	$	1,338		$	15

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

9

The Hartford Global Growth Fund

Notes to Financial Statements
April 30, 2009 (Unaudited)
(000’s Omitted)

1.	Organization:
	The Hartford Mutual Funds, Inc. (“Company”) is an open-end management investment company comprised of fifty-two portfolios. Financial statements for The Hartford Global Growth Fund (the “Fund”), a series of the Company, are included in this report.
	The Company is organized under the laws of the State of Maryland and is registered with the Securities and Exchange Commission (“SEC”) under the Investment Company Act of 1940, as amended (“1940 Act”). The Fund is a diversified open-end management investment company.
	Class A shares are sold with a front-end sales charge of up to 5.50%. Class B shares are sold with a contingent deferred sales charge which is assessed on the lesser of the per share net asset value (“NAV”) of the shares at the time of redemption or the original purchase price, and declines from up to 5.00% to zero depending on the period of time the shares are held. Class C shares are sold with a contingent deferred sales charge of up to 1.00% on shares redeemed within twelve months of purchase. Classes R3, R4, R5 shares, which are offered to employer-sponsored retirement plans, and Class Y shares, which are sold to certain eligible institutional investors, are sold without a sales charge. All classes of shares have identical voting, redemption, dividend, liquidation and other rights and the same terms and conditions, with the exceptions that each class may have different expenses, which may affect performance, and except that Class B shares automatically convert to Class A shares after 8 years.
	Effective at the close of business on September 30, 2009 (the “Close Date”), no new or additional investments will be allowed in Class B shares of The Hartford Mutual Funds (including investments through any systematic investment plan). After the Close Date, existing shareholders of Class B shares may continue to hold their Class B shares, exchange their Class B shares for Class B shares of another Hartford Mutual Fund (as permitted by existing exchange privileges), and redeem their Class B shares as described in the Fund’s prospectus. Reinstatement privileges with respect to Class B shares will continue under the current policy. If you have chosen to reinvest capital gains and dividends, any such capital gains or dividends on Class B shares will continue to be reinvested in Class B shares of the Fund. For Class B shares outstanding as of the Close Date, all Class B share attributes, including the 12b-1 fee, contingent deferred sales charge schedule, and conversion to Class A shares remain unchanged.
2.	Significant Accounting Policies:
	The following is a summary of significant accounting policies of the Fund, which are in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”).

a)	Security Transactions and Investment Income - Security transactions are recorded on the trade date (the date the order to buy or sell is executed). Security gains and losses are determined on the basis of identified cost.
	Dividend income is accrued as of the ex-dividend date, except that certain dividends for foreign securities where the ex-dividend date may have passed are recorded as soon as the Fund is informed of the dividend in the exercise of reasonable diligence. Interest income, including amortization of premium and accretion of discounts, is accrued on a daily basis.
b)	Security Valuation - The Fund generally uses market prices in valuing portfolio securities. If market prices are not readily available or are deemed unreliable, the Fund will use the fair value of the security as determined in good faith under policies and procedures established by and under the supervision of the Fund’s Board of Directors. Market prices may be deemed unreliable, for example, if a security is thinly traded or if an event has occurred after the close of the security’s primary markets, but before the close of the New York Stock Exchange (the “Exchange”) (normally 4:00 p.m. Eastern Time, referred to as the “Valuation Time”) that is expected to affect the value of the portfolio security. The circumstances in which the Fund may use fair value pricing include, among others: (i) the occurrence of events that are significant to a particular issuer, such as mergers, restructuring or defaults; (ii) the occurrence of events that are significant to an entire market, such as natural disasters in a particular region or governmental actions; (iii) trading restrictions on securities; (iv) thinly traded securities and (v) market events such as trading halts and early market

10

	closings. In addition, with respect to the valuation of stocks primarily traded on foreign markets, the Fund uses a fair value pricing service approved by the Fund’s Board of Directors, which employs quantitative models that evaluate changes in the value of foreign market proxies (e.g., futures contracts, ADR’s, exchange traded funds (“ETF’s”)) after the close of the foreign markets but before the close of the Exchange. Securities that are primarily traded on foreign markets may trade on days that are not business days of the Fund. The value of the foreign securities in which the Fund invests may change on days when a shareholder will not be able to purchase or redeem shares of the Fund. Fair value pricing is subjective in nature and the use of fair value pricing by the Fund may cause the NAV of its shares to differ significantly from the NAV that would have been calculated using market prices at the close of the exchange on which a portfolio security is primarily traded but before the close of the Exchange. There can be no assurance that the Fund could obtain the fair value assigned to a security if the Fund were to sell the security at approximately the time at which the Fund determines its NAV.
	Securities of foreign issuers and non-dollar securities are translated from the local currency into U.S. dollars using prevailing exchange rates.
	Financial instruments for which prices are not available from an independent pricing service are valued using market quotations obtained from one or more dealers that make markets in securities in accordance with procedures established by the Fund’s Board of Directors.
	A forward currency contract shall be valued based on the price of the underlying currency at the prevailing interpolated exchange rate, which is a combination of the spot currency rate and the forward currency rate. Spot currency rates and forward currency rates are obtained from an independent pricing service on a daily basis not more than one hour before the Valuation Time.
	Other derivative or contractual type instruments shall be valued using market prices if such instruments trade on an exchange or market. If such instruments do not trade on an exchange or market, such instruments shall be valued at a price at which the counterparty to such contract would repurchase the instrument. In the event that the counterparty cannot provide a price, such valuation may be determined in accordance with procedures established by the Fund’s Board of Directors.
c)	Foreign Currency Transactions - The accounting records of the Fund are maintained in U.S. dollars. All assets and liabilities initially expressed in foreign currencies are converted into U.S. dollars at the prevailing exchange rates. Purchases and sales of investment securities, dividend and interest income and certain expenses are translated at the rates of exchange prevailing on the respective dates of such transactions.
	The Fund does not isolate that portion of portfolio security valuation resulting from fluctuations in the foreign currency exchange rates on portfolio securities from the fluctuations arising from changes in the market prices of securities held. Such fluctuations are included with the net realized and unrealized gain or loss on investments in the accompanying financial statements.
	Net realized foreign exchange gains or losses arise from sales of foreign currencies and the difference between asset and liability amounts initially stated in foreign currencies and the U.S. dollar value of the amounts actually received or paid. Net unrealized foreign exchange gains or losses arise from changes in the value of other assets and liabilities at the end of the reporting period, resulting from changes in the exchange rates.
d)	Securities Lending - The Fund may lend its securities to certain qualified brokers who pay the Fund negotiated lender fees. The loans are fully collateralized at all times with cash and/or U.S. Government Securities and/or repurchase agreements. The cash collateral is then invested in short-term money market instruments. The repurchase agreements are fully collateralized by U.S. Government Securities. The adequacy of the collateral for securities on loan is monitored on a daily basis. For instances where the market value of collateral falls below the market value of the securities out on loan, such collateral is supplemented on the following business day.

11

The Hartford Global Growth Fund

Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

	While securities are on loan, the Fund is subject to the following risks: 1) that the borrower may default on the loan and that the collateral could be inadequate in the event the borrower defaults, 2) that the earnings on the collateral invested may not be sufficient to pay fees incurred in connection with the loan, 3) that the principal value of the collateral invested may decline and may not be sufficient to pay back the borrower for the amount of the collateral posted, 4) that the borrower may use the loaned securities to cover a short sale which may place downward pressure on the market prices of the loaned securities, 5) that return of loaned securities could be delayed and could interfere with portfolio management decisions and 6) that any efforts to recall the securities for purposes of voting a proxy may not be effective. The Fund had no securities out on loan as of April 30, 2009.
e)	Joint Trading Account - Pursuant to an exemptive order issued by the SEC, the Fund may transfer uninvested cash balances into a joint trading account managed by Wellington Management Company, LLP (“Wellington”). These balances may be invested in one or more repurchase agreements and/or short-term money market instruments.
f)	Repurchase Agreements - A repurchase agreement is an agreement by which the seller of a security agrees to repurchase the security sold at a mutually agreed upon time and price. At the time the Fund enters into a repurchase agreement, the value of the underlying collateral security(ies), including accrued interest, will be equal to or exceed the value of the repurchase agreement. Securities that serve to collateralize the repurchase agreement are held by the Fund’s custodian in book entry or physical form in the custodial account of the Fund or in a third party custodial account. Repurchase agreements are valued at cost plus accrued interest. The Fund, as shown on the Schedule of Investments, had outstanding repurchase agreements as of April 30, 2009.
g)	Forward Foreign Currency Contracts - The Fund may enter into forward foreign currency contracts that obligate the Fund to repurchase/replace or sell currencies at specified future dates. Forward foreign currency contracts may be used to hedge against adverse fluctuations in exchange rates between currencies.
	Forward foreign currency contracts involve elements of market risk in excess of the amount reflected in the Statement of Assets and Liabilities. In addition, risks may arise upon entering into these contracts from the potential inability of the counterparties to meet the terms of the contracts and from unanticipated movements in the value of the foreign currencies relative to the U.S. dollar.
h)	Fund Share Valuation and Dividend Distributions to Shareholders — Orders for the Fund’s shares are executed in accordance with the investment instructions of the shareholders. The NAV of the Fund’s shares is determined as of the close of each business day of the Exchange. The NAV is determined separately for each class of the Fund by dividing the Fund’s net assets attributable to that class by the number of shares of the class outstanding. Orders for the purchase of the Fund’s shares prior to the close of the Exchange on any day on which the Exchange is open for business are priced at the NAV determined as of the close of the Exchange. Orders after the close of the Exchange, or on a day on which the Exchange and/or the Fund is not open for business, are priced at the next determined NAV.
	The Fund intends to distribute substantially all of its net investment income and net realized capital gains to shareholders no less frequently than once a year. Normally, dividends from net investment income are declared and paid annually. Dividends are paid on shares beginning on the business day after the day when the funds used to purchase the shares are collected by the transfer agent for the Fund. Unless shareholders specify otherwise, all dividends will be automatically reinvested in additional full or fractional shares of the Fund.
	Distributions from net investment income, realized capital gains and capital are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP with respect to character and timing. These differences include but are not limited to foreign currency gains and losses, losses deferred due to wash sales adjustments, adjustments related to Passive Foreign Investment Companies and certain derivatives, and excise tax regulations. Permanent book and federal income tax basis differences relating to shareholder distributions will result in reclassifications to certain of the Fund’s capital accounts (see Federal Income Taxes: Reclassification of Capital Accounts footnote).

12

i)	Illiquid and Restricted Securities - The Fund is permitted to invest up to 15% of its net assets in illiquid securities. “Illiquid Securities” are those that may not be sold or disposed of in the ordinary course of business within seven days, at approximately the price used to determine the Fund’s NAV. The Fund may not be able to sell illiquid securities or other investments when its sub-adviser considers it desirable to do so or may have to sell such securities or investments at a price that is lower than the price that could be obtained if the securities or investments were more liquid. A sale of illiquid securities or other investments may require more time and may result in higher dealer discounts and other selling expenses than does the sale of those that are liquid. Illiquid securities and investments also may be more difficult to value, due to the unavailability of reliable market quotations for such securities or investments, and investment in them may have an adverse impact on the Fund’s NAV. The Fund may also purchase certain restricted securities, commonly known as Rule 144A securities, that can be resold to institutions and which may be determined to be liquid pursuant to policies and guidelines established by the Fund’s Board of Directors. The Fund, as shown in the Schedule of Investments, had illiquid or restricted securities as of April 30, 2009.
j)	Securities Purchased on a When-Issued or Delayed-Delivery Basis — Delivery and payment for securities that have been purchased by the Fund on a forward commitment, or when-issued or delayed-delivery basis take place beyond the customary settlement period. During this period, such securities are subject to market fluctuations, and the Fund identifies securities segregated in its records with value at least equal to the amount of the commitment. As of April 30, 2009, the Fund had entered into outstanding when-issued or forward commitments with a cost of $623.
k)	Use of Estimates — The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and the reported amounts of income and expenses during the period. Operating results in the future could vary from the amounts derived from management’s estimates.
l)	Financial Accounting Standards Board Financial Accounting Standards No. 157 - Effective November 1, 2008, the Fund adopted Financial Accounting Standards Board (“FASB”) Statement of Financial Accounting Standards No. 157, “Fair Value Measurements” (“FAS 157”). This standard clarifies the definition of fair value for financial reporting, establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements. Fair value is defined under FAS 157 as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Under FAS 157, a fair value measurement should reflect all of the assumptions that market participants would use in pricing the asset or liability, including assumptions about the risk inherent in a particular valuation technique, the effect of a restriction on the sale or use of an asset, and the risk of nonperformance.
	Various inputs are used in determining the value of the Fund’s investment. These inputs are summarized, per FAS 157, into three broad hierarchy levels. This hierarchy is based on whether the valuation inputs are observable or unobservable. These levels are:

• Level 1 — Quoted prices in active markets for identical securities. Level 1 includes exchange-traded instruments such as domestic equities, some foreign equities, options, futures, mutual funds, ETF’s, and rights and warrants.

• Level 2 — Observable inputs other than Level 1 prices, such as quoted prices for similar securities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the security. Level 2 includes debt securities that are traded less frequently than exchange-traded instruments and that are valued using third party pricing services and foreign equities, whose value is determined using a multi-factor regression model with inputs that are observable in the market; and money market instruments, which are carried at amortized cost.

• Level 3 — Significant unobservable inputs that are supported by little or no market activity. Level 3 includes financial instruments whose values are determined using broker quotes and require significant management judgment or estimation. This category includes broker quoted securities, long dated OTC options and securities where trading has been halted or there are certain restrictions on trading. While these securities are priced using unobservable inputs, the valuation of these securities reflects the best available data and management believes the prices are a good representation of exit price.

13

The Hartford Global Growth Fund

Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

	Individual securities within any of the above mentioned asset classes may be assigned a different hierarchical level than those presented above, as individual circumstances dictate.
	FAS 157 also requires that a roll forward reconciliation be shown for all Level 3 securities from the beginning of the reporting period to the end of the reporting period. Part of this reconciliation includes transfers in and/or out of Level 3. For purposes of this reconciliation, transfers in are shown at the end of period fair value and transfers out are shown at the beginning of period fair value. During the six-month period ended April 30, 2009, the Fund held no Level 3 securities.
	Refer to the valuation hierarchy levels summary found following the Schedule of Investments.
	FASB Staff Position No. 157-4 - In April 2009, FASB released FASB Staff Position No. 157-4, “Determining Fair Value When the Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly” (“FSP FAS 157-4”). FSP FAS 157-4 provides additional guidance on determining whether a market for a financial asset is not active and a transaction is not distressed when measuring fair value under FAS 157. The FSP also requires additional disclosure detail on debt and equity securities by major investment categories. FSP FAS 157-4 is effective for interim and annual periods ending after June 15, 2009. At this time, management is evaluating the implications of FSP FAS 157-4 and does not believe it will impact valuation but will require additional disclosure. This additional disclosure has not yet been implemented.
m)	Financial Accounting Standards Board Financial Accounting Standards No. 161 - In March 2008, the FASB released Statement of Financial Accounting Standards No. 161, “Disclosures about Derivative Instruments and Hedging Activities” (“FAS 161”). FAS 161 requires companies to disclose information detailing the objectives and strategies for using derivative instruments, the level of derivative activity entered into by the company and any credit risk-related contingent features of the agreements. The application of FAS 161 is required for fiscal years and interim periods beginning after November 15, 2008. At this time, management is evaluating the implications of FAS 161 and has not yet implemented the new disclosure standard.
n)	Indemnifications: Under the Company’s organizational documents, the Company shall indemnify its officers and directors to the full extent required or permitted under Maryland General Corporation Law and the federal securities law. In addition, the Company, on behalf of the Fund, may enter into contracts that contain a variety of indemnifications. The Company’s maximum exposure under these arrangements is unknown. However, the Company has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote.

3. Federal Income Taxes:

a) Federal Income Taxes - For federal income tax purposes, the Fund intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code (“IRC”) by distributing substantially all of its taxable net investment income and net realized capital gains to its shareholders and otherwise complying with the requirements of regulated investment companies. The Fund has distributed substantially all of its income and capital gains in prior years and the Fund intends to distribute substantially all of its income and gains during the calendar year ending December 31, 2009. Accordingly, no provision for federal income or excise taxes has been made in the accompanying financial statements. Distributions from short-term capital gains are treated as ordinary income distributions for federal income tax purposes.

14

b) The tax character of distributions paid by the Fund for the periods indicated is as follows (as adjusted for dividends payable):

	For the Year Ended		For the Year Ended
	October 31, 2008		October 31, 2007
Ordinary Income	$	18,484	$	15,315
Long-Term Capital Gains *		71,393		22,227

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

As of October 31, 2008, the Fund’s components of distributable earnings (deficit) on a tax basis were as follows:

	Amount
Accumulated Capital Losses*	$	(45,031	)
Unrealized Depreciation†	$	(132,670	)
Total Accumulated Deficit	$	(177,701	)

*	The Fund has capital loss carryforwards that are identified in the Capital Loss Carryforward note that follows.
†	The differences between book-basis and tax-basis unrealized appreciation (depreciation) are attributable to the tax deferral of wash sales losses, the mark-to-market adjustment for certain derivatives in accordance with IRC Sec. 1256, the mark to market for Passive Foreign Investment Companies and basis differences in real estate investment trusts.

c)

Reclassification of Capital Accounts - In accordance with American Institute of Certified Public Accountants (AICPA) Statement of Position 93-2, Determination, Disclosure, and Financial Statement Presentation of Income, Capital Gain, and Return of Capital Distributions by Investment Companies, the Fund has recorded reclassifications in its capital accounts. These reclassifications had no impact on the NAV of the Fund. The reclassifications are a result of permanent differences between GAAP and tax accounting for such items as net operating losses that reduce distribution requirements. Adjustments are made to reflect the impact these items have on current and future distributions to shareholders. Therefore, the source of the Fund’s distributions may be shown in the accompanying Statement of Changes in Net Assets as from net investment income, from net realized gains on investments or from capital depending on the type of book and tax differences that exist. As of October 31, 2008, the Fund recorded reclassifications to increase undistributed net investment income by $1,095, increase accumulated net realized gain by $79, and decrease paid in capital by $1,174.

d)

Capital Loss Carryforward - At October 31, 2008 (tax-year-end), the Fund had capital loss carryforwards for U.S. federal income tax purposes of approximately:

Year	Amount
2016	$	45,031
Total	$	45,031

e) Financial Accounting Standards Board Interpretation No. 48 - On July 13, 2006, the FASB released FASB Interpretation No. 48 “Accounting for Uncertainty in Income Taxes” (“FIN 48”). FIN 48 provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. The Fund adopted FIN 48 for fiscal years beginning after December 15, 2006. Management has evaluated the implications of FIN 48 for all open tax years (tax years ended October 31, 2006 – 2008) and has determined there is no impact to the Fund’s financial statements.

15

The Hartford Global Growth Fund

Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

4. Expenses:

a)

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

The schedule below reflects the rates of compensation paid to HIFSCO for investment management services rendered during the six-month period ended April 30, 2009; the rates are accrued daily and paid monthly:

Average Daily Net Assets	Annual Fee
On first $500 million		0.8500	%
On next $500 million		0.7500	%
On next $4 billion		0.7000	%
On next $5 billion		0.6975	%
Over $10 billion		0.6950	%

b) Accounting Services Agreement — Pursuant to the Fund Accounting Agreement between Hartford Life Insurance Company (“HLIC”) and the Fund, HLIC provides accounting services to the Fund and receives monthly compensation on the Fund’s average net assets. The Fund’s accounting service fees are accrued daily and paid monthly.

Average Daily Net Assets	Annual Fee
On first $5 billion		0.016	%
On next $5 billion		0.014	%
Over $10 billion		0.012	%

c) Operating Expenses - Allocable expenses incurred by the Company are allocated to each Fund and allocated to classes within the Fund in proportion to the average daily net assets of the Fund and each class, except where allocation of certain expenses is more fairly made directly to the Fund or to specific classes within a Fund. During the six-month period ended April 30, 2009, HIFSCO has contractually limited the total operating expenses of this Fund, exclusive of taxes, interest expense, brokerage commissions, certain distribution expenses and extraordinary expenses as follows:

Class A	Class B	Class C	Class R3	Class R4	Class R5	Class Y
1.48%	2.23%	2.23%	1.73%	1.43%	1.13%	1.13%

16

d)

Fees Paid Indirectly - The Fund has entered into agreements with State Street Global Markets, LLC and Russell Implementation Services Inc. to partially recapture non-discounted trade commissions. Such rebates are used to pay a portion of the Fund’s expenses. In addition, the Fund’s custodian bank has also agreed to reduce its fees when the Fund maintains cash on deposit in the non-interest-bearing custody account. For the six-month period ended April 30, 2009, these amounts are included in the Statement of Operations.

The ratio of expenses to average net assets in the accompanying financial highlights excludes the reduction in expenses related to fees paid indirectly. Had the fees paid indirectly been included, the annualized expense ratio for the periods listed below would have been as follows:

	Annualized
	Six-Month
	Period			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended
	Ended April			October 31,			October 31,			October 31,			October 31,			October 31,
	30, 2009			2008			2007			2006			2005			2004
Class A Shares		1.07	%		1.43	%		1.47	%		1.45	%		1.36	%		1.53	%
Class B Shares		1.46			2.01			2.18			2.15			2.23			2.26
Class C Shares		1.96			2.16			2.14			2.18			2.13			2.15
Class R3 Shares		1.36			1.72			1.65	*
Class R4 Shares		1.42			1.43			1.34	†
Class R5 Shares		1.08			1.05			1.05	‡
Class Y Shares		0.97			0.90			0.89			0.91			0.85			0.84

*	From December 22, 2006 (commencement of operations), through October 31, 2007
†	From December 22, 2006 (commencement of operations), through October 31, 2007
‡	From December 22, 2006 (commencement of operations), through October 31, 2007

e)

Distribution and Service Plan for Class A, B, C, R3 and R4 Shares - HIFSCO is the principal underwriter and distributor of the Fund. HIFSCO is engaged in distribution activities, which include marketing and distribution of shares through broker-dealers, financing distribution costs and maintaining financial books and records. For the six-month period ended April 30, 2009, HIFSCO received front-end load sales charges of $136 and contingent deferred sales charges of $14 from the Fund.

The Fund has adopted Distribution and Service Plans in accordance with Rule 12b-1 of the Investment Company Act of 1940, as amended, to compensate the distributor (HIFSCO) for activities intended to result in the sale and distribution of Classes A, B, C, R3 and R4 shares and for providing services for shareholders. The Rule 12b-1 plan applicable to Class A shares of the Funds provides for payment of a Rule 12b-1 fee of up to 0.35% of average daily net assets; however, the Board of Directors has currently authorized 12b-1 payments of only up to 0.25%. Some or all of the fee may be used for shareholder servicing expenses with the remainder used for distribution expenses. Some or the entire Rule 12b-1 fee for Class B shares may be remitted to broker-dealers for distribution and/or shareholder account services. Under the Class B Plan, the Fund pays the distributor 1.00% of the average daily net assets of Class B shares that are outstanding for 8 years or less, 0.25% of which is a fee for services provided to existing shareholders with the remainder used for distribution expenses. After eight years, Class B shares convert to Class A shares. Upon conversion to Class A shares, the Class A plan described above will apply to those shares. Under the Class C Plan, the Fund pays the distributor 1.00% of the average daily net assets of Class C shares outstanding, 0.25% of which is intended as a fee for services provided to existing shareholders with the remainder used for distribution expenses. For Class C shares, some or the entire fee may be remitted to broker-dealers for distribution and/or shareholder account services. Class R3 shares have a distribution fee of 0.50% and Class R4 shares have a distribution fee of 0.25%. For Classes R3 and R4 shares, some or the entire fee may be remitted to broker dealers for distribution and/or shareholder account services. The Fund’s 12b-1 fees are accrued daily and paid monthly.

17

The Hartford Global Growth Fund

Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

	For the six-month period ended April 30, 2009, total sales commissions paid to affiliated brokers/dealers of The Hartford for distributing the Fund’s shares were $17. These commissions are in turn paid to sales representatives of the broker/dealers.
f)	Other Related Party Transactions - Certain officers of the Fund are directors and/or officers of HIFSCO and/or The Hartford or its subsidiaries. For the six-month period ended April 30, 2009, a portion of the Fund’s chief compliance officer’s salary was paid by the Fund in the amount of $1. Hartford Administrative Services Company (“HASCO”), an indirect wholly owned subsidiary of The Hartford, provides transfer agent services to the Fund. HASCO was compensated $384 for providing such services. These fees are accrued daily and paid monthly.
g)	Payments from Affiliate:
	The total return in the accompanying financial highlights includes payment from affiliates. Had the payment from affiliates been excluded, the total return for the periods listed below would have been as follows:

	Impact from			Total Return
	Payment from			Excluding
	Affiliate for SEC			Payment from
	Settlement for the			Affiliate for the
	Year Ended			Year Ended
	October 31, 2007			October 31, 2007
Class A		0.26	%		35.50	%
Class B		0.27			34.45
Class C		0.27			34.58
Class Y		0.25			36.28

5.	Affiliate Holdings:
	As of April 30, 2009, affiliates of The Hartford had ownership of shares in the Fund as follows:

	Shares
Class R3		1
Class R4		1
Class R5		1

6.	Investment Transactions:
	For the six-month period ended April 30, 2009, the Fund’s aggregate purchases and sales of investment securities (excluding short-term investments) were as follows:

	Amount
Cost of Purchases Excluding U.S. Government Obligations	$	150,830
Sales Proceeds Excluding U.S. Government Obligations		156,153

18

7.	Capital Share Transactions:
	The following information is for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	For the Six-Month Period Ended April 30, 2009												For the Year Ended October 31, 2008
			Shares					Shares							Shares					Shares
			Issued for					Issued		Net Increase					Issued for					Issued		Net Increase
	Shares		Reinvested		Shares			from		(Decrease) of			Shares		Reinvested		Shares			from		(Decrease) of
	Sold		Dividends		Redeemed			Merger		Shares			Sold		Dividends		Redeemed			Merger		Shares
Class A
Shares		997		—		(3,160	)		—		(2,163	)		2,818		2,438		(4,703	)		—		553
Amount	$	9,434	$	—	$	(29,571	)	$	—	$	(20,137	)	$	51,785	$	50,714	$	(79,690	)	$	—	$	22,809
Class B
Shares		64		—		(628	)		—		(564	)		198		457		(1,596	)		—		(941	)
Amount	$	549	$	—	$	(5,394	)	$	—	$	(4,845	)	$	3,339	$	8,763	$	(26,019	)	$	—	$	(13,917	)
Class C
Shares		162		—		(693	)		—		(531	)		221		419		(744	)		—		(104	)
Amount	$	1,417	$	—	$	(6,001	)	$	—	$	(4,584	)	$	3,869	$	8,096	$	(11,730	)	$	—	$	235
Class R3
Shares		1		—		—			—		1			—		—		—			—		—
Amount	$	8	$	—	$	(1	)	$	—	$	7		$	8	$	1	$	—		$	—	$	9
Class R4
Shares		3		—		—			—		3			27		—		(27	)		—		—
Amount	$	37	$	—	$	—		$	—	$	37		$	516	$	1	$	(500	)	$	—	$	17
Class R5
Shares		—		—		—			—		—			—		—		—			—		—
Amount	$	—	$	—	$	(5	)	$	—	$	(5	)	$	10	$	1	$	—		$	—	$	11
Class Y
Shares		2,619		—		(870	)		—		1,749			4,002		907		(210	)		—		4,699
Amount	$	26,032	$	—	$	(8,700	)	$	—	$	17,332		$	53,425	$	19,921	$	(3,860	)	$	—	$	69,486

The following reflects the conversion of Class B Shares into Class A Shares (reflected as Class A Shares issued and Class B shares redeemed) for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	Shares		Dollars
For the Six-Month Period Ended April 30, 2009		220	$	2,064
For the Year Ended October 31, 2008		649	$	11,746

8.	Line of Credit:
	The Fund is one of several Hartford Funds that participate in a $500 million committed revolving line of credit facility. The facility is to be used for temporary or emergency purposes. Under the arrangement, the Fund is required to own securities having a market value in excess of 300% of the total bank borrowings. The interest rate on borrowings varies depending on the nature of the loan. The facility also requires a fee to be paid based on the amount of the commitment. During the six-month period ended April 30, 2009, the Fund did not have any borrowings under this facility.
9.	Industry Classifications:
	Other than the industry classifications “Other Investment Pools and Funds” and “Exchange Traded Funds”, equity industry classifications used in this report are the Global Industry Classification Standard, which was developed by and is the exclusive property and service mark of MSCI, Inc. and Standard & Poor’s.

19

The Hartford Global Growth Fund

Financial Highlights — (Unaudited)

	— Selected Per-Share Data — (a)																											— Ratios and Supplemental Data —
																																			Ratio of			Ratio of			Ratio of
																																			Expenses			Expenses			Expenses
																																			to Average			to Average			to Average
																																			Net Assets			Net Assets			Net Assets
																																			Before			After			After
								Net																											Waivers			Waivers			Waivers
								Realized																											and			and			and
								and Un-									Distrib-								Net										Reimburse-			Reimburse-			Reimburse-			Ratio of
			Net			Pay-		realized						Dividends			utions								Increase			Net					Net		ments and			ments and			ments and			Net Invest-			Port-
	Net Asset		Invest-			ments		Gain						from Net			from			Distri-					(Decrease)			Asset					Assets at		Including			Including			Excluding			ment			folio
	Value at		ment			from		(Loss) on			Total from			Invest-			Realized			butions		Total			in Net			Value at					End of		Expenses			Expenses			Expenses			Income to			Turn-
	Beginning		Income			(to)		Invest-			Investment			ment			Capital			from		Distri-			Asset			End of		Total			Period		not Subject			not Subject			not Subject			Average			over
Class	of Period		(Loss)			Affiliate		ments			Operations			Income			Gains			Capital		butions			Value			Period		Return(b)			(000’s)		to Cap(c)			to Cap(c)			to Cap(c)			Net Assets			Rate(d)
For the Six-Month Period Ended April 30, 2009 (Unaudited) (e)
A	$	10.50	$	0.04		$	—	$	(0.22	)	$	(0.18	)	$	—		$	—		$	—	$	—		$	(0.18	)	$	10.32		(1.71)	%(f)	$	186,916		1.93	%(g)		1.07	%(g)		1.07	%(g)		0.76	%(g)		42	%
B		9.64		0.01			—		(0.20	)		(0.19	)		—			—			—		—			(0.19	)		9.45		(1.97	) (f)		17,827		3.03	(g)		1.47	(g)		1.47	(g)		0.32	(g)		—
C		9.68		(0.01	)		—		(0.20	)		(0.21	)		—			—			—		—			(0.21	)		9.47		(2.17	) (f)		24,645		2.53	(g)		1.97	(g)		1.97	(g)		(0.16	) (g)		—
R3		10.97		0.03			—		(0.24	)		(0.21	)		—			—			—		—			(0.21	)		10.76		(1.91	) (f)		18		2.29	(g)		1.36	(g)		1.36	(g)		0.68	(g)		—
R4		11.01		0.03			—		(0.24	)		(0.21	)		—			—			—		—			(0.21	)		10.80		(1.91	) (f)		48		1.42	(g)		1.42	(g)		1.42	(g)		0.51	(g)		—
R5		11.10		0.04			—		(0.23	)		(0.19	)		—			—			—		—			(0.19	)		10.91		(1.71	) (f)		6		1.08	(g)		1.08	(g)		1.08	(g)		0.73	(g)		—
Y		11.14		0.05			—		(0.24	)		(0.19	)		—			—			—		—			(0.19	)		10.95		(1.71	) (f)		152,548		0.97	(g)		0.97	(g)		0.97	(g)		0.91	(g)		—
For the Year Ended October 31, 2008 (e)
A		24.97		(0.03	)		—		(11.78	)		(11.81	)		—			(2.66	)		—		(2.66	)		(14.47	)		10.50		(52.57	)		212,910		1.49			1.43			1.43			(0.18	)		82
B		23.27		(0.14	)		—		(10.83	)		(10.97	)		—			(2.66	)		—		(2.66	)		(13.63	)		9.64		(52.83	)		23,614		2.42			2.01			2.01			(0.79	)		—
C		23.40		(0.16	)		—		(10.90	)		(11.06	)		—			(2.66	)		—		(2.66	)		(13.72	)		9.68		(52.94	)		30,334		2.16			2.16			2.16			(0.92	)		—
R3		26.02		(0.08	)		—		(12.31	)		(12.39	)		—			(2.66	)		—		(2.66	)		(15.05	)		10.97		(52.69	)		10		1.88			1.73			1.73			(0.42	)		—
R4		26.09		(0.05	)		—		(12.37	)		(12.42	)		—			(2.66	)		—		(2.66	)		(15.08	)		11.01		(52.66	)		7		1.58			1.43			1.43			(0.57	)		—
R5		26.15		0.05			—		(12.44	)		(12.39	)		—			(2.66	)		—		(2.66	)		(15.05	)		11.10		(52.40	)		12		1.06			1.06			1.06			0.26			—
Y		26.19		0.07			—		(12.46	)		(12.39	)		—			(2.66	)		—		(2.66	)		(15.05	)		11.14		(52.31	)		135,673		0.90			0.90			0.90			0.36			—
For the Year Ended October 31, 2007
A		19.35		(0.14	)		0.05		6.69			6.60			—			(0.98	)		—		(0.98	)		5.62			24.97		35.85	(h)		492,466		1.48			1.48			1.48			(0.62	)		85
B		18.23		(0.32	)		0.06		6.28			6.02			—			(0.98	)		—		(0.98	)		5.04			23.27		34.81	(h)		78,931		2.40			2.19			2.19			(1.33	)		—
C		18.31		(0.28	)		0.05		6.30			6.07			—			(0.98	)		—		(0.98	)		5.09			23.40		34.94	(h)		75,742		2.15			2.15			2.15			(1.29	)		—
R3(i)		20.00		(0.14	)		—		6.16			6.02			—			—			—		—			6.02			26.02		30.10	(f)		13		1.65	(g)		1.65	(g)		1.65	(g)		(0.78	) (g)		—
R4(j)		20.00		(0.09	)		—		6.18			6.09			—			—			—		—			6.09			26.09		30.45	(f)		13		1.34	(g)		1.34	(g)		1.34	(g)		(0.47	) (g)		—
R5(k)		20.00		(0.03	)		—		6.18			6.15			—			—			—		—			6.15			26.15		30.75	(f)		13		1.05	(g)		1.05	(g)		1.05	(g)		(0.17	) (g)		—
Y		20.14		—			0.06		6.97			7.03			—			(0.98	)		—		(0.98	)		6.05			26.19		36.61	(h)		195,998		0.89			0.89			0.89			(0.01	)		—
For the Year Ended October 31, 2006 (e)
A		16.80		(0.05	)		—		2.81			2.76			(0.02	)		(0.19	)		—		(0.21	)		2.55			19.35		16.58			417,840		1.53			1.48			1.48			(0.25	)		125
B		15.93		(0.17	)		—		2.66			2.49			—			(0.19	)		—		(0.19	)		2.30			18.23		15.80			74,805		2.44			2.18			2.18			(0.95	)		—
C		16.01		(0.17	)		—		2.66			2.49			—			(0.19	)		—		(0.19	)		2.30			18.31		15.72			66,121		2.20			2.20			2.20			(0.98	)		—
Y		17.46		0.06			—		2.91			2.97			(0.10	)		(0.19	)		—		(0.29	)		2.68			20.14		17.25			169,270		0.93			0.93			0.93			0.31			—
For the Year Ended October 31, 2005
A		16.49		0.08			—		0.23			0.31			—			—			—		—			0.31			16.80		1.88			419,648		1.58			1.48			1.48			0.41			270
B		15.77		(0.08	)		—		0.24			0.16			—			—			—		—			0.16			15.93		1.02			78,986		2.51			2.35			2.35			(0.45	)		—
C		15.84		(0.06	)		—		0.23			0.17			—			—			—		—			0.17			16.01		1.07			71,623		2.25			2.25			2.25			(0.34	)		—
Y		17.06		0.13			—		0.27			0.40			—			—			—		—			0.40			17.46		2.34			83,896		0.97			0.97			0.97			0.87			—
For the Year Ended October 31, 2004
A		13.96		(0.06	)		—		2.59			2.53			—			—			—		—			2.53			16.49		18.12			466,013		1.62			1.62			1.62			(0.36	)		271
B		13.45		(0.17	)		—		2.49			2.32			—			—			—		—			2.32			15.77		17.25			90,179		2.52			2.35			2.35			(1.09	)		—
C		13.49		(0.15	)		—		2.50			2.35			—			—			—		—			2.35			15.84		17.42			87,518		2.24			2.24			2.24			(0.98	)		—
Y		14.34		0.03			—		2.69			2.72			—			—			—		—			2.72			17.06		18.97			58,791		0.93			0.93			0.93			0.31			—

(a)	Information presented relates to a share outstanding throughout the indicated period.
(b)	Assumes initial investment at net asset value at the beginning of each period, reinvestment of all distributions, the complete redemption of the investment at net asset value at the end of each period and no sales charge. Total return would be reduced if sales charges were taken into account.
(c)	Ratios do not include fees paid indirectly (See Expenses in the accompanying Notes to Financial Statements).
(d)	Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between the classes of shares issued.
(e)	Per share amounts have been calculated using average shares outstanding method.
(f)	Not annualized.
(g)	Annualized.
(h)	Total return without the inclusion of the Payments from (to) Affiliate, as noted on the Statement of Operations, can be found in Expenses in the accompanying Notes to Financial Statements.
(i)	Commenced operations on December 22, 2006.
(j)	Commenced operations on December 22, 2006.
(k)	Commenced operations on December 22, 2006.

20

The Hartford Global Growth Fund

Directors and Officers (Unaudited)

The Board of Directors appoints officers who are responsible for the day-to-day operations of the Fund and who execute policies formulated by the Directors. Each director serves until his or her death, resignation, or retirement or until the next annual meeting of shareholders is held or until his or her successor is elected and qualifies.

Directors and officers who are employed by or who have a financial interest in The Hartford are considered “interested” persons of the Fund pursuant to the Investment Company Act of 1940, as amended. Each officer and three of the Fund’s directors, as noted in the chart below, are “interested” persons of the Fund. Each director serves as a director for The Hartford Mutual Funds, Inc., The Hartford Mutual Funds II, Inc., The Hartford Income Shares Fund, Inc., Hartford Series Fund, Inc., and Hartford HLS Series Fund II, Inc., which collectively consist of 100 funds. Correspondence may be sent to directors and officers c/o Hartford Mutual Funds, P.O. Box 2999, Hartford, Connecticut 06104-2999, except that correspondence to Ms. Fagely may be sent to 500 Bielenberg Drive, Woodbury, Minnesota 55125.

The table below sets forth, for each director and officer, his or her name, year of birth, current position with the Fund and date first elected or appointed to The Hartford Mutual Funds, Inc. (“MF”) and The Hartford Mutual Funds II, Inc. (“MF2”), principal occupation, and, for directors, other directorships held. The Fund’s statement of additional information contains further information on the directors and is available free of charge by calling 1-888-843-7824 or writing to Hartford Mutual Funds, P.O. Box 64387, St. Paul, MN 55164-0387.

Information on the aggregate remuneration paid to the directors of the Fund can be found in the Statement of Operations herein. The Fund pays a portion of the Chief Compliance Officer’s compensation, but does not pay salaries or compensation to any of its officers or directors who are employed by The Hartford.

Non-Interested Directors

Lynn S. Birdsong (1946) Director since 2003, Co-Chairman of the Investment Committee

Mr. Birdsong is a private investor. Since 1981, Mr. Birdsong has been a partner in Birdsong Company, an advertising specialty firm. Since 2003, Mr. Birdsong has been an independent director of The Japan Fund. From 2003 to March 2005, Mr. Birdsong was an independent director of the Atlantic Whitehall Funds. From 1979 to 2002, Mr. Birdsong was a managing director of Zurich Scudder Investments, an investment management firm. During his employment with Scudder, Mr. Birdsong was an interested director of The Japan Fund.

Robert M. Gavin, Jr. (1940) Director since 2002 (MF) and 1986 (MF2), Chairman of the Board since 2004

Dr. Gavin is an educational consultant. Prior to September 1, 2001, he was President of Cranbrook Education Community and prior to July 1996, he was President of Macalester College, St. Paul, Minnesota.

Duane E. Hill (1945) Director since 2001 (MF) and 2002 (MF2), Chairman of the Nominating Committee

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

Sandra S. Jaffee (1941) Director since 2005

Ms. Jaffee is Chairman and Chief Executive Officer of Fortent (formerly Searchspace Group), a leading provider of compliance/regulatory technology to financial institutions. Ms. Jaffee served as an Entrepreneur in Residence with Warburg Pincus, a private equity firm, from August 2004 to August 2005. From September 1995 to July 2004, Ms. Jaffee served as Executive Vice President at Citigroup, where she was President and Chief Executive Officer of Citibank’s Global Securities Services (1995-2003).

William P. Johnston (1944) Director since 2005, Chairman of the Compliance Committee

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

21

The Hartford Global Growth Fund

Directors and Officers (Unaudited) — (continued)

Phillip O. Peterson (1944) Director since 2002 (MF) and 2000 (MF2), Chairman of the Audit Committee

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

Lemma W. Senbet (1946) Director since 2005

Dr. Senbet is the William E. Mayer Chair Professor of Finance at the University of Maryland, Robert H. Smith School of Business. He was chair of the Finance Department during 1998-2006. Previously he was an endowed professor of finance at the University of Wisconsin-Madison. Also, he was director of the Fortis Funds from March 2000-July 2002. Dr. Senbet served the finance profession in various capacities, including as director of the American Finance Association and President of the Western Finance Association. In 2006, Dr. Senbet was inducted Fellow of Financial Management Association International for his career-long distinguished scholarship and professional service.

Interested Directors and Officers

Thomas M. Marra* (1958) Director since 2002

Mr. Marra has served as President and Chief Operating Officer of The Hartford Financial Services Group, Inc. (“The Hartford”) since 2007. Mr. Marra currently serves as Director of Hartford Life, Inc. (“HL, Inc.”). Mr. Marra served as Chief Operating Officer of Hartford Life Insurance Company, Inc. (“Hartford Life”) (2000-2008), as President of Hartford Life (2002-2008) and as Director of Hartford Life’s Investment Products Division from 1998 to 2000.

* On February 24, 2009, The Hartford and Mr. Marra determined to enter into a mutually agreed separation whereby Mr. Marra will retire, and his role as an executive officer and employee of The Hartford will terminate, effective July 3, 2009. Mr. Marra will resign his position as a Director of the Fund effective June 25, 2009.

Lowndes A. Smith (1939) Director since 2002, Co-Chairman of the Investment Committee

Mr. Smith served as Vice Chairman of The Hartford from February 1997 to January 2002, as President and Chief Executive Officer of Hartford Life, Inc. from February 1997 to January 2002, and as President and Chief Operating Officer of The Hartford Life Insurance Companies from January 1989 to January 2002. Mr. Smith serves as a Director of White Mountains Insurance Group, Ltd., One Beacon Insurance, Symetra Financial and as a Managing Director of Whittington Gray Associates.

John C. Walters* (1962) Director since 2008

Mr. Walters currently serves as Chief Executive Officer, President and Director of HL, Inc. Mr. Walters previously served as President of the U.S. Wealth Management Division of Hartford Life, Inc., as Co-Chief Operating Officer of Hartford Life Insurance Company (2007-2008) and as Executive Vice President and Director of its Investment Products Division (2000-2008). Mr. Walters also serves as Chairman of the Board, Chief Executive Officer, President and Director of Hartford Life Insurance Company and as Executive Vice President of The Hartford. In addition, Mr. Walters is Manager of HL Investment Advisors, LLC (“HL Advisors”).

* Mr. Walters previously served as President and Chief Executive Officer of the Fund (2007 – 2009).

Other Officers

Robert M. Arena, Jr. (1968) President and Chief Executive Officer since 2009 (served as Vice President of the Fund (2006 – 2009))Mr. Arena serves as Executive Vice President of Hartford Life Insurance Company, (“Hartford Life”). Additionally, Mr. Arena is Director and Senior Vice President of Hartford Administrative Services Company, (“HASCO”), Manager, Chief Executive Officer and President of Hartford Investment Financial Services, LLC (“HIFSCO”) and HL Advisors. Prior to joining The Hartford in 2004, he was Senior Vice President in charge of Product Management for American Skandia/Prudential in the individual annuities division. Mr. Arena joined American Skandia in 1996.

Tamara L. Fagely (1958) Vice President, Treasurer and Controller since 2002 (MF) 1993 (MF2)

Ms. Fagely has been a Vice President of HASCO since 1998 and Chief Financial Officer since 2006. Currently Ms. Fagely is a Vice President of Hartford Life. She served as Assistant Vice President of Hartford Life from December 2001 through March 2005. In addition, Ms. Fagely is Controller and Chief Financial Officer of HIFSCO.

Brian Ferrell (1962) AML Compliance Officer since 2008

Mr. Ferrell has served as Assistant Vice President and AML Compliance Officer for The Hartford since 2006 and as AML Compliance Officer for HASCO and Hartford Investor Services Company, LLC (“HISC”) since 2008. Prior to joining The Hartford in 2006, Mr. Ferrell held various positions at the U.S. Department of the Treasury, (the “Treasury”), from 2001 to 2006 where he served as Chief Counsel for the Treasury’s Financial Crimes Enforcement Network, (“FinCEN”) from 2005 – 2006.

22

Thomas D. Jones, III (1965) Vice President and Chief Compliance Officer since 2006

Mr. Jones serves as Chief Compliance Officer for the Hartford Mutual Funds and Vice President and Director of Securities Compliance for The Hartford. He is also Vice President of HIFSCO, HL Advisors, and Hartford Life Insurance Company. Mr. Jones joined The Hartford in 2006 from SEI Investments, where he served as Chief Compliance Officer for its mutual funds and investment advisers. Prior to joining SEI, Mr. Jones was First Vice President and Compliance Director for Merrill Lynch Investment Managers (Americas) (“MLIM”), where he worked from 1992-2004. At MLIM, Mr. Jones was responsible for the compliance oversight of various investment products, including mutual funds, wrap accounts, institutional accounts and alternative investments.

Edward P. Macdonald (1967) Vice President, Secretary and Chief Legal Officer since 2005

Mr. Macdonald serves as Assistant General Counsel and Assistant Vice President of The Hartford and Chief Legal Officer and Vice President of HIFSCO. He also serves as Vice President and Secretary of HASCO, Assistant Vice President of Hartford Life, and Chief Legal Officer, Secretary and Vice President of HL Advisors. Prior to joining The Hartford in 2005, Mr. Macdonald was Chief Counsel, Investment Management for Prudential Financial (formerly American Skandia Investment Services, Inc.). He joined Prudential in April 1999.

Vernon J. Meyer (1964) Vice President since 2006

Mr. Meyer serves as Senior Vice President of Hartford Life and as Director of its Investment Advisory Group in the Individual Markets Group segment. He also serves as Senior Vice President of HIFSCO and HL Advisors. Prior to joining The Hartford in 2004, Mr. Meyer was with MassMutual which he joined in 1987.

D. Keith Sloane (1960) Vice President since 2009

Mr. Sloane is a Senior Vice President of Hartford Life where he serves as Director of mutual fund product management for The Hartford’s mutual funds and 529 college savings businesses. Additionally, Mr. Sloane currently serves as Senior Vice President of HIFSCO, HL Advisors, and HASCO. Prior to joining The Hartford in 2007, Mr. Sloane was Director of product marketing and led the mutual fund business for Wachovia Securities (“Wachovia”) in their investment products group. Mr. Sloane joined Wachovia in 1995.

Jane Wolak (1961) Vice President since 2009

Ms. Wolak currently serves as Vice President of Hartford Life. Ms. Wolak joined Hartford Life as Vice President, Retail Product Services in May 2007. She is also Vice President of HASCO. Previously, Ms. Wolak was with Sun Life Financial where she held the position of Vice President, Service Center Operations from 2001 – 2007.

HOW TO OBTAIN A COPY OF THE FUND’S PROXY VOTING POLICIES AND VOTING RECORDS

A description of the policies and procedures that the Fund uses to determine how to vote proxies relating to portfolio securities and a record of how the Fund voted any proxies for the twelve-month period ended June 30, 2008 is available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov.

QUARTERLY PORTFOLIO HOLDINGS INFORMATION

The Fund files a complete schedule of portfolio holdings with the Commission for the first and third quarters of each fiscal year on Form N-Q. The Fund’s Forms are available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov. The Form N-Q may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330.

23

The Hartford Global Growth Fund

Expense Example (Unaudited)

Your Fund’s Expenses

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments and contingent deferred sales charges (CDSC) (2) ongoing costs including management fees; distribution fees; and other fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the period of October 31, 2008 through April 30, 2009.

Actual Expenses

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

Hypothetical Example for Comparison Purposes

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

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads) and CDSC. Therefore, the second line 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 are equal to the Fund’s annualized expense ratios multiplied by average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

	Actual return						Hypothetical (5% return before expenses)
					Expenses paid						Expenses paid					Days in
					during the period						during the period					the		Days
	Beginning		Ending Account		October 31, 2008		Beginning		Ending Account		October 31,		Annualized			current		in the
	Account Value		Value		through		Account Value		Value		2008 through		expense			1/2		full
	October 31, 2008		April 30, 2009		April 30, 2009		October 31, 2008		April 30, 2009		April 30, 2009		ratio			year		year
Class A	$	1,000.00	$	982.85	$	5.26	$	1,000.00	$	1,019.48	$	5.35		1.07	%		181		365
Class B	$	1,000.00	$	980.29	$	7.21	$	1,000.00	$	1,017.50	$	7.35		1.47			181		365
Class C	$	1,000.00	$	978.30	$	9.66	$	1,000.00	$	1,015.02	$	9.84		1.97			181		365
Class R3	$	1,000.00	$	980.85	$	6.67	$	1,000.00	$	1,018.05	$	6.80		1.36			181		365
Class R4	$	1,000.00	$	980.92	$	6.97	$	1,000.00	$	1,017.75	$	7.10		1.42			181		365
Class R5	$	1,000.00	$	982.88	$	5.30	$	1,000.00	$	1,019.43	$	5.40		1.08			181		365
Class Y	$	1,000.00	$	982.94	$	4.76	$	1,000.00	$	1,019.98	$	4.85		0.97			181		365

24

The Hartford Global Health Fund

Table of Contents

Manager Discussions (Unaudited)	2
Financial Statements
Schedule of Investments at April 30, 2009 (Unaudited)	5
Statement of Assets and Liabilities at April 30, 2009 (Unaudited)	7
Statement of Operations for the Six Month Period Ended April 30, 2009 (Unaudited)	8
Statement of Changes in Net Assets for the Six Month Period Ended April 30, 2009 (Unaudited) and the Year Ended October 31, 2008	9
Notes to Financial Statements (Unaudited)	10
Financial Highlights (Unaudited)	19
Directors and Officers (Unaudited)	20
How to Obtain a Copy of the Fund’s Proxy Voting Policies and Proxy Voting Records (Unaudited)	22
Quarterly Portfolio Holdings Information (Unaudited)	22
Expense Example (Unaudited)	23

The Hartford Global Health Fund
(subadvised by Wellington Management Company, LLP)

Performance Overview(1) 5/01/00 - 4/30/09

Growth of a $10,000 investment in Class A which includes Sales Charge

S&P 500 Index is a market capitalization weighted price index composed of 500 widely held common stocks.

S&P North American Health Care Sector Index is a modified capitalization-weighted index based on United States headquartered health care companies. Stocks in the index are weighted such that each stock is no more than 7.5% of the market capitalization as of the most recent reconstitution date. The companies included in the index must be common stocks and be traded on the American Stock Exchange, Nasdaq or the New York Stock Exchange and meet certain established market capitalization levels.

You cannot invest directly in an index.

The value of shares will fluctuate so that, when redeemed, shares may be worth more or less than their original cost. The chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.

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

Investment objective — Seeks long-term capital appreciation.

Average Annual Total Returns(2,3,4) (as of 4/30/09)

	Inception		1			5			Since
	Date		Year			Year			Inception
Global Health A#		5/01/00		-25.34	%		-0.90	%		5.45	%
Global Health A##		5/01/00		-29.44	%		-2.02	%		4.79	%
Global Health B#		5/01/00		-25.91	%		-1.66	%	NA		*
Global Health B##		5/01/00		-29.41	%		-1.96	%	NA		*
Global Health C#		5/01/00		-25.92	%		-1.65	%		4.68	%
Global Health C##		5/01/00		-26.62	%		-1.65	%		4.68	%
Global Health I#		5/01/00		-25.14	%		-0.71	%		5.57	%
Global Health R3#		5/01/00		-25.57	%		-0.80	%		5.78	%
Global Health R4#		5/01/00		-25.29	%		-0.61	%		5.90	%
Global Health R5#		5/01/00		-25.04	%		-0.45	%		5.99	%
Global Health Y#		5/01/00		-25.01	%		-0.42	%		6.01	%

#	Without sales charge
##	With sales charge
NA	Not Applicable
*	10 year and inception returns are not applicable for Class B because after 8 years Class B converts to Class A.

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)	Growth of a $10,000 investment in Classes B, C, I, R3, R4, R5 and Y shares will vary from results seen above due to differences in the expenses charged to these share classes.
(2)	Class I shares commenced operations on 8/31/06. Performance prior to 8/31/06 reflects Class A performance. Class R3, R4 and R5 shares commenced operations on 12/22/06. Performance prior to 12/22/06 reflects Class Y performance.
(3)	The initial investment in Class A shares reflects the maximum sales charge and Classes B and C reflect CDSC.
(4)	Total returns presented above were calculated using the Fund’s net asset value available to shareholders for sale or redemption of Fund shares on April 30, 2009, which excludes investment transactions as of this date.

Portfolio Managers
Robert L. Deresiewicz	Ann C. Gallo	Jean M. Hynes, CFA	Kirk J. Mayer, CFA
Vice President	Senior Vice President, Partner	Senior Vice President, Partner	Senior Vice President

How did the Fund perform?

The Class A shares of The Hartford Global Health Fund returned -7.45%, before sales charge, for the six-month period ended April 30, 2009, slightly underperforming its benchmark, the S&P North American Health Care Sector Index, which returned -7.16% for the same period. The Fund also underperformed the -5.65% return of the average fund in the Lipper Global Health and Biotechnology peer group, a group of funds with investment strategies similar to those of the Fund.

2

Why did the Fund perform this way?

It has been a tough environment for investors across the board over the last six months, and health care has certainly not been spared. At the end of 2008, deleveraging across the financial sector accelerated, limiting the availability of credit and exacerbating a slowdown across the broader economy. Many investors responded to the financial crisis by shedding risk broadly, increasing exposure to cash, and selling equities with little regard for the quality or valuation of their holdings. More recently, deteriorating global growth, troubles in the U.S. automotive industry, and flu concerns were offset by renewed optimism driven by better-than-feared corporate earnings and signs that the global banking system and economy may be starting to stabilize.

Soon after taking office, the Obama administration unveiled a proposed budget, which calls for funding for a national health insurance program. Health care stocks tumbled on the heels of the news. While HMO stocks were the hardest hit, selling was indiscriminate, as industries that stand to benefit from health care reform, such as generic drug makers, were dragged down in the sell-off. Health Care stocks, as measured by the S&P North American Health Care Sector Index (“Index”), fell during the period. Health Care stocks outperformed the broader U.S. market, which returned -8.53%, as measured by the S&P 500 Index, but trailed the world market return of -5.09%, as measured by the MSCI World Index. Within the Index, the Health Care Technology industry was the best performer, while Health Care Equipment & Supplies, Biotechnology, Life Sciences Tools & Services, and Pharmaceuticals stocks lagged.

The Fund slightly underperformed the benchmark. Weak stock selection in Biotechnology and Health Care Equipment & Suppliers and overweight (i.e. the Fund’s sector position was greater than the benchmark position) positions to Health Care Providers & Services and Health Care Equipment & Suppliers more than offset strong stock selection in Pharmaceuticals and Health Care Providers & Services.

Holdings of Progenics Pharmaceuticals, Tenet Healthcare, and Celera as well as an underweight (i.e. the Fund’s sector position was less than the benchmark position) position in acquired pharmaceutical company Wyeth detracted from benchmark-relative (i.e. performance of the Fund as measured against the benchmark) performance. Shares of New York-based biopharmaceutical company Progenics Pharmaceuticals fell due to disappointing earnings and a delay in the approval process to expand usage of its drug, Relistor. Shares of hospital and health care facilities operator Tenet Healthcare declined due to weak earnings announcements and guidance below analyst estimates. Shares in molecular diagnostics company Celera fell during the period after the company announced 2009 guidance below analysts’ expectations. Top detractors from absolute (i.e. total return) performance included medical technology firm Medtronic, biotechnology company Amgen, and health care products company Covidien.

Holdings of Schering-Plough, Walgreens, and Coventry were among the top contributors to benchmark-relative performance during the period. Shares of global health care company Schering-Plough jumped after it announced a definitive merger agreement with Merck. Drugstore chain Walgreens performed well due to earnings that were slightly better than expectations. Shares of diversified managed health care company Coventry rebounded during the period after beating analysts’ first quarter earnings estimates. Opportunistic positions in Abbott Laboratories and Pfizer as well as not holding pharmaceutical giant Merck also aided relative performance. Top contributors to absolute performance included Schering-Plough, leading biotechnology company Genentech, and biopharmaceutical company Cougar Biotechnology.

What is the outlook?

In our opinion, we will need to closely watch U.S. health care reform, as well as the toll of the financial crisis on countries whose governments pay for pharmaceuticals, excluding the U.S. The Obama administration wants to expand health care coverage to all Americans and hopes to fund this plan with cuts to other parts of health care, including drugs.

Similar to 2008, we expect 2009 to be a volatile year for health care service stocks. As it was in 2008, our strategy will be to take advantage of this volatility by adding to existing or initiating new positions in stocks that are discounting a panic-driven, improbably negative outcome. Within the Pharmaceutical and Biotechnology sub-sectors we may be entering a period where strong performance is not as concentrated and is more broadly diversified across stocks. Given an extended period of underperformance, major pharmaceuticals in particular should begin to turn more positive as new product pipelines provide upside potential long term. Within the Medical Technologies sub-sector, most stocks have become attractively valued so we continue to look for companies with underappreciated franchises or promising R&D projects.

At the end of the period the Fund was most overweight Health Care Equipment & Supplies and Biotechnology and underweight Pharmaceuticals, Life Science Tools & Services, and Health Care Providers & Services names relative to the benchmark.

3

Diversification by Industry
as of April 30, 2009

	Percentage of
Industry	Net Assets
Biotechnology		20.7	%
Drug Retail		2.3
Health Care Distributors		2.1
Health Care Equipment		25.6
Health Care Facilities		1.4
Health Care Services		1.0
Health Care Supplies		0.7
Health Care Technology		0.4
Life Sciences Tools & Services		0.4
Managed Health Care		8.9
Pharmaceuticals		35.4
Short-Term Investments		0.6
Other Assets and Liabilities		0.5
Total		100.0	%

Diversification by Country
as of April 30, 2009

	Percentage of
Country	Net Assets
Belgium		1.2	%
Cayman Islands		1.4
China		0.5
Denmark		0.6
France		2.7
Germany		1.0
Ireland		1.4
Israel		3.5
Italy		0.7
Japan		7.6
Spain		0.4
Switzerland		2.2
United Kingdom		1.1
United States		74.6
Short-Term Investments		0.6
Other Assets and Liabilities		0.5
Total		100.0	%

4

The Hartford Global Health Fund

Schedule of Investments

April 30, 2009 (Unaudited)

(000’s Omitted)

Shares or Principal Amount			Market Value ╪
COMMON STOCKS - 98.9%
		Biotechnology - 20.7%
	250	3SBio, Inc. ADR •	$	1,773
	411	Amgen, Inc. •		19,931
	384	Amylin Pharmaceuticals, Inc. •		4,204
	731	Celera Corp. •		5,912
	65	Cephalon, Inc. •		4,248
	155	Cougar Biotechnology, Inc. •		5,419
	850	Cytokinetics, Inc. •		1,582
	122	Genzyme Corp. •		6,479
	122	Gilead Sciences, Inc. •		5,565
	1,087	Incyte Corp. •		2,566
	820	Ligand Pharmaceuticals Class B •		2,453
	69	OSI Pharmaceuticals, Inc. •		2,306
	495	Progenics Pharmaceuticals, Inc. •		2,715
	233	Regeneron Pharmaceuticals, Inc. •		3,084
	347	Seattle Genetics, Inc. •		3,202
	173	Vertex Pharmaceuticals, Inc. •		5,326
				76,765
		Drug Retail - 2.3%
	273	Walgreen Co.		8,587
		Health Care Distributors - 2.1%
	115	Amerisource Bergen Corp.		3,858
	116	Cardinal Health, Inc.		3,913
				7,771
		Health Care Equipment - 25.6%
	335	Baxter International, Inc.		16,225
	143	Beckman Coulter, Inc.		7,537
	57	Becton, Dickinson & Co.		3,453
	259	China Medical Technologies, Inc. ADR		5,067
	351	Covidien Ltd.		11,560
	120	DiaSorin S.p.A.		2,670
	275	Hospira, Inc. •		9,052
	556	Medtronic, Inc.		17,776
	184	St. Jude Medical, Inc. •		6,164
	272	Symmetry Medical, Inc. •		1,976
	43	Synthes, Inc.		4,343
	662	Volcano Corp. •		8,730
				94,553
		Health Care Facilities - 1.4%
	117	Community Health Systems, Inc. •		2,679
	490	Health Management Associates, Inc. Class A •		2,290
				4,969
		Health Care Services - 1.0%
	100	Fresenius Medical Care AG ADR		3,840
		Health Care Supplies - 0.7%
	82	Inverness Medical Innovation, Inc. •		2,661
		Health Care Technology - 0.4%
	101	Eclipsys Corp. •		1,330
		Life Sciences Tools & Services - 0.4%
	136	PAREXEL International Corp. •		1,351
		Managed Health Care - 8.9%
	552	Coventry Health Care, Inc. •		8,781
	259	Health Net, Inc. •		3,734
	141	Humana, Inc. •		4,060
	697	UnitedHealth Group, Inc.		16,388
				32,963
		Pharmaceuticals - 35.4%
	105	Abbott Laboratories		4,382
	110	Astellas Pharma, Inc.		3,564
	115	AstraZeneca plc ADR		4,032
	475	Daiichi Sankyo Co., Ltd.		7,941
	222	Eisai Co., Ltd.		5,968
	867	Elan Corp. plc ADR •		5,123
	128	Eli Lilly & Co.		4,227
	372	Forest Laboratories, Inc. •		8,075
	132	H. Lundbeck A/S		2,393
	88	Ipsen		3,605
	166	Laboratorios Almiral S.A.		1,496
	386	Medicines Co. •		3,851
	691	Pfizer, Inc.		9,226
	29	Roche Holding AG		3,607
	216	Sanofi-Aventis S.A. ADR		6,209
	943	Schering-Plough Corp.		21,710
	637	Shionogi & Co., Ltd.		10,959
	293	Teva Pharmaceutical Industries Ltd. ADR		12,844
	167	UCB S.A.		4,547
	175	Wyeth		7,416
				131,175
		Total common stocks (cost $464,934)	$	365,965
		Total long-term investments (cost $464,934)	$	365,965
SHORT-TERM INVESTMENTS - 0.6%
		Repurchase Agreements - 0.6%
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $512, collateralized by GNMA 4.50% - 6.50%, 2038 - 2039, value of $522)
$	512	0.18%, 04/30/2009	$	512
		BNP Paribas Securities Corp. TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $613, collateralized by FHLMC 4.50% - 6.50%, 2035 - 2039, FNMA 4.50% - 6.50%, 2034 - 2047, value of $625)
	613	0.17%, 04/30/2009		613
		Deutsche Bank Securities TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $856, collateralized by FHLMC 4.00% - 7.00%, 2021 - 2039, FNMA 6.00% - 7.00%, 2034 - 2038, GNMA 4.50% - 7.00%, 2024 - 2039, value of $873)
	856	0.17%, 04/30/2009		856
		UBS Securities, Inc. Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $3, collateralized by U.S. Treasury Bond 7.50%, 2024, value of $3)
	3	0.14%, 04/30/2009		3

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

5

The Hartford Global Health Fund

Schedule of Investments — (continued)

April 30, 2009 (Unaudited)

(000’s Omitted)

Shares or Principal Amount					Market Value ╪
SHORT-TERM INVESTMENTS - 0.6% - (continued)
		Repurchase Agreements - 0.6% - (continued)
		UBS Securities, Inc. TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $185, collateralized by FHLMC 8.00% - 15.00%, 2009 - 2021, FNMA 3.50% - 15.50%, 2012 - 2039, value of $188)
$	185	0.16%, 04/30/2009			$	185
						2,169
		Total short-term investments (cost $2,169)			$	2,169
		Total investments (cost $467,103) ▲	99.5	%	$	368,134
		Other assets and liabilities	0.5	%		1,814
		Total net assets	100.0	%	$	369,948

Note:	Percentage of investments as shown is the ratio of the total market value to total net assets. Market value of investments in foreign securities represents 24.32% of total net assets at April 30, 2009.
	Foreign securities that are principally traded on certain foreign markets are adjusted daily pursuant to a third party pricing service methodology approved by the Board of Directors in order to reflect an adjustment for factors occurring after the close of the foreign market but before the close of the New York Stock Exchange.
▲	At April 30, 2009, the cost of securities for federal income tax purposes was $475,913 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	12,529
Unrealized Depreciation		(120,308	)
Net Unrealized Depreciation	$	(107,779	)

•	Currently non-income producing.
╪	See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of securities.

Diversification by Country
as of April 30, 2009

	Percentage of
Country	Net Assets
Belgium		1.2	%
Cayman Islands		1.4
China		0.5
Denmark		0.6
France		2.7
Germany		1.0
Ireland		1.4
Israel		3.5
Italy		0.7
Japan		7.6
Spain		0.4
Switzerland		2.2
United Kingdom		1.1
United States		74.6
Short-Term Investments		0.6
Other Assets and Liabilities		0.5
Total		100.0	%

FAS 157 Disclosure of Investment Valuation Hierarchy Levels

Assets:
Investment in securities — Level 1	$	316,368
Investment in securities — Level 2		51,766
Total	$	368,134

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

6

The Hartford Global Health Fund

Statement of Assets and Liabilities

April 30, 2009 (Unaudited)

(000’s Omitted)

Assets:
Investments in securities, at fair value (cost $467,103)	$	368,134
Cash		5
Receivables:
Investment securities sold		1,553
Fund shares sold		494
Dividends and interest		946
Other assets		102
Total assets		371,234
Liabilities:
Payables:
Fund shares redeemed		1,008
Investment management fees		54
Distribution fees		28
Accrued expenses		196
Total liabilities		1,286
Net assets	$	369,948
Summary of Net Assets:
Capital stock and paid-in-capital		598,359
Accumulated distribution in excess of net investment income		(915	)
Accumulated net realized loss on investments and foreign currency transactions		(128,527	)
Unrealized depreciation of investments and the translation of assets and liabilities denominated in foreign currency		(98,969	)
Net assets	$	369,948
Shares authorized		500,000
Par value	$	0.001
Class A: Net asset value per share/Maximum offering price per share	$	11.15/$11.79
Shares outstanding		21,744
Net assets	$	242,362
Class B: Net asset value per share	$	10.24
Shares outstanding		3,238
Net assets	$	33,158
Class C: Net asset value per share	$	10.26
Shares outstanding		7,268
Net assets	$	74,603
Class I: Net asset value per share	$	11.27
Shares outstanding		986
Net assets	$	11,111
Class R3: Net asset value per share	$	11.59
Shares outstanding		65
Net assets	$	750
Class R4: Net asset value per share	$	11.71
Shares outstanding		422
Net assets	$	4,940
Class R5: Net asset value per share	$	11.81
Shares outstanding		122
Net assets	$	1,442
Class Y: Net asset value per share	$	11.83
Shares outstanding		134
Net assets	$	1,582

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

7

The Hartford Global Health Fund

Statements of Operations

For the Six Month Period Ended April 30, 2009 (Unaudited)

(000’s Omitted)

Investment Income:
Dividends	$	3,094
Interest		4
Securities lending		147
Less: Foreign tax withheld		(63	)
Total investment income		3,182
Expenses:
Investment management fees		2,340
Transfer agent fees		694
Distribution fees
Class A		328
Class B		191
Class C		406
Class R3		1
Class R4		5
Custodian fees		9
Accounting services		37
Registration and filing fees		65
Board of Directors’ fees		8
Audit fees		11
Other expenses		131
Total expenses (before waivers and fees paid indirectly)		4,226
Expense waivers		(40	)
Transfer agent fee waivers		(84	)
Commission recapture		(5	)
Custodian fee offset		—
Total waivers and fees paid indirectly		(129	)
Total expenses, net		4,097
Net investment loss		(915	)
Net Realized Loss on Investments and Foreign Currency Transactions:
Net realized loss on investments in securities		(119,822	)
Net realized gain on foreign currency transactions		106
Net Realized Loss on Investments and Foreign Currency Transactions		(119,716	)
Net Changes in Unrealized Appreciation of Investments and Foreign Currency Transactions:
Net unrealized appreciation of investments		69,831
Net unrealized depreciation on translation of other assets and liabilities in foreign currencies		(79	)
Net Changes in Unrealized Appreciation of Investments and Foreign Currency Transactions		69,752
Net Loss on Investments and Foreign Currency Transactions		(49,964	)
Net Decrease in Net Assets Resulting from Operations	$	(50,879	)

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

8

The Hartford Global Health Fund

Statement of Changes in Net Assets

(000’s Omitted)

	For the Six-Month
	Period Ended			For the
	April 30, 2009			Year Ended
	(Unaudited)			October 31, 2008
Operations:
Net investment loss	$	(915	)	$	(2,072	)
Net realized gain (loss) on investments and foreign currency transactions		(119,716	)		23,413
Net unrealized appreciation (depreciation) of investments and foreign currency transactions		69,752			(281,548	)
Net decrease in net assets resulting from operations		(50,879	)		(260,207	)
Distributions to Shareholders:
Class A		—			—
Class C		—			—
Class I		—			—
From net realized gain on investments
Class A		(14,159	)		(35,144	)
Class B		(2,332	)		(6,084	)
Class C		(4,728	)		(10,053	)
Class I		(1,547	)		(1,046	)
Class R3		(23	)		(7	)
Class R4		(189	)		(36	)
Class R5		(65	)		(26	)
Class Y		(7,032	)		(14,030	)
Total distributions		(30,075	)		(66,426	)
Capital Share Transactions:
Class A		(20,556	)		(40,482	)
Class B		(6,598	)		(11,375	)
Class C		(6,571	)		3,916
Class I		(27,760	)		37,815
Class R3		307			521
Class R4		1,545			4,527
Class R5		152			1,511
Class Y		(132,012	)		14,054
Net increase (decrease) from capital share transactions		(191,493	)		10,487
Net decrease in net assets		(272,447	)		(316,146	)
Net Assets:
Beginning of period		642,395			958,541
End of period	$	369,948		$	642,395
Accumulated distribution in excess of net investment loss	$	(915	)	$	—

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

9

The Hartford Global Health Fund

Notes to Financial Statements

April 30, 2009 (Unaudited)

(000’s Omitted)

1.	Organization:
	The Hartford Mutual Funds, Inc. (“Company”) is an open-end management investment company comprised of fifty-two portfolios. Financial statements for The Hartford Global Health Fund (the “Fund”), a series of the Company, are included in this report.
	The Company is organized under the laws of the State of Maryland and is registered with the Securities and Exchange Commission (“SEC”) under the Investment Company Act of 1940, as amended (“1940 Act”). The Fund is a non-diversified open-end management investment company.
	Class A shares are sold with a front-end sales charge of up to 5.50%. Class B shares are sold with a contingent deferred sales charge which is assessed on the lesser of the per share net asset value (“NAV”) of the shares at the time of redemption or the original purchase price, and declines from up to 5.00% to zero depending on the period of time the shares are held. Class C shares are sold with a contingent deferred sales charge of up to 1.00% on shares redeemed within twelve months of purchase. Class I shares are sold without sales charges to certain eligible investors through advisory fee-based wrap programs. Classes R3, R4, R5 shares, which are offered to employer-sponsored retirement plans, and Class Y shares, which are sold to certain eligible institutional investors, are sold without a sales charge. All classes of shares have identical voting, redemption, dividend, liquidation and other rights and the same terms and conditions, with the exceptions that each class may have different expenses, which may affect performance, and except that Class B shares automatically convert to Class A shares after 8 years.
	Effective at the close of business on September 30, 2009 (the “Close Date”), no new or additional investments will be allowed in Class B shares of The Hartford Mutual Funds (including investments through any systematic investment plan). After the Close Date, existing shareholders of Class B shares may continue to hold their Class B shares, exchange their Class B shares for Class B shares of another Hartford Mutual Fund (as permitted by existing exchange privileges), and redeem their Class B shares as described in the Fund’s prospectus. Reinstatement privileges with respect to Class B shares will continue under the current policy. If you have chosen to reinvest capital gains and dividends, any such capital gains or dividends on Class B shares will continue to be reinvested in Class B shares of the Fund. For Class B shares outstanding as of the Close Date, all Class B share attributes, including the 12b-1 fee, contingent deferred sales charge schedule, and conversion to Class A shares remain unchanged.
2.	Significant Accounting Policies:
	The following is a summary of significant accounting policies of the Fund, which are in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”).

a)	Security Transactions and Investment Income - Security transactions are recorded on the trade date (the date the order to buy or sell is executed). Security gains and losses are determined on the basis of identified cost.
	Dividend income is accrued as of the ex-dividend date, except that certain dividends for foreign securities where the ex-dividend date may have passed are recorded as soon as the Fund is informed of the dividend in the exercise of reasonable diligence. Interest income, including amortization of premium and accretion of discounts, is accrued on a daily basis.
b)	Security Valuation – The Fund generally uses market prices in valuing portfolio securities. If market prices are not readily available or are deemed unreliable, the Fund will use the fair value of the security as determined in good faith under policies and procedures established by and under the supervision of the Fund’s Board of Directors. Market prices may be deemed unreliable, for example, if a security is thinly traded or if an event has occurred after the close of the security’s primary markets, but before the close of the New York Stock Exchange (the “Exchange”) (normally 4:00 p.m. Eastern Time, referred to as the “Valuation Time”) that is expected to affect the value of the portfolio security. The circumstances in which the Fund may use fair value pricing include, among others: (i) the occurrence of events that are significant to a particular issuer, such as mergers, restructuring or defaults; (ii) the occurrence of events that are

10

	significant to an entire market, such as natural disasters in a particular region or governmental actions; (iii) trading restrictions on securities; (iv) thinly traded securities and (v) market events such as trading halts and early market closings. In addition, with respect to the valuation of stocks primarily traded on foreign markets, the Fund uses a fair value pricing service approved by the Fund’s Board of Directors, which employs quantitative models that evaluate changes in the value of foreign market proxies (e.g., futures contracts, ADR’s, exchange traded funds (“ETF’s”)) after the close of the foreign markets but before the close of the Exchange. Securities that are primarily traded on foreign markets may trade on days that are not business days of the Fund. The value of the foreign securities in which the Fund invests may change on days when a shareholder will not be able to purchase or redeem shares of the Fund. Fair value pricing is subjective in nature and the use of fair value pricing by the Fund may cause the NAV of its shares to differ significantly from the NAV that would have been calculated using market prices at the close of the exchange on which a portfolio security is primarily traded but before the close of the Exchange. There can be no assurance that the Fund could obtain the fair value assigned to a security if the Fund were to sell the security at approximately the time at which the Fund determines its NAV.
	Securities of foreign issuers and non-dollar securities are translated from the local currency into U.S. dollars using prevailing exchange rates.
	Financial instruments for which prices are not available from an independent pricing service are valued using market quotations obtained from one or more dealers that make markets in securities in accordance with procedures established by the Fund’s Board of Directors.
	A forward currency contract shall be valued based on the price of the underlying currency at the prevailing interpolated exchange rate, which is a combination of the spot currency rate and the forward currency rate. Spot currency rates and forward currency rates are obtained from an independent pricing service on a daily basis not more than one hour before the Valuation Time.
	Other derivative or contractual type instruments shall be valued using market prices if such instruments trade on an exchange or market. If such instruments do not trade on an exchange or market, such instruments shall be valued at a price at which the counterparty to such contract would repurchase the instrument. In the event that the counterparty cannot provide a price, such valuation may be determined in accordance with procedures established by the Fund’s Board of Directors.
c)	Foreign Currency Transactions - The accounting records of the Fund are maintained in U.S. dollars. All assets and liabilities initially expressed in foreign currencies are converted into U.S. dollars at the prevailing exchange rates. Purchases and sales of investment securities, dividend and interest income and certain expenses are translated at the rates of exchange prevailing on the respective dates of such transactions.
	The Fund does not isolate that portion of portfolio security valuation resulting from fluctuations in the foreign currency exchange rates on portfolio securities from the fluctuations arising from changes in the market prices of securities held. Such fluctuations are included with the net realized and unrealized gain or loss on investments in the accompanying financial statements.
	Net realized foreign exchange gains or losses arise from sales of foreign currencies and the difference between asset and liability amounts initially stated in foreign currencies and the U.S. dollar value of the amounts actually received or paid. Net unrealized foreign exchange gains or losses arise from changes in the value of other assets and liabilities at the end of the reporting period, resulting from changes in the exchange rates.
d)	Securities Lending - The Fund may lend its securities to certain qualified brokers who pay the Fund negotiated lender fees. The loans are fully collateralized at all times with cash and/or U.S. Government Securities and/or repurchase agreements. The cash collateral is then invested in short-term money market instruments. The repurchase agreements are fully collateralized by U.S. Government Securities. The adequacy of the collateral for securities on loan is monitored on

11

The Hartford Global Health Fund

Notes to Financial Statements – (continued)

April 30, 2009 (Unaudited)

(000’s Omitted)

	a daily basis. For instances where the market value of collateral falls below the market value of the securities out on loan, such collateral is supplemented on the following business day.
	While securities are on loan, the Fund is subject to the following risks: 1) that the borrower may default on the loan and that the collateral could be inadequate in the event the borrower defaults, 2) that the earnings on the collateral invested may not be sufficient to pay fees incurred in connection with the loan, 3) that the principal value of the collateral invested may decline and may not be sufficient to pay back the borrower for the amount of the collateral posted, 4) that the borrower may use the loaned securities to cover a short sale which may place downward pressure on the market prices of the loaned securities, 5) that return of loaned securities could be delayed and could interfere with portfolio management decisions and 6) that any efforts to recall the securities for purposes of voting a proxy may not be effective. The Fund had no securities out on loan as of April 30, 2009.
e)	Joint Trading Account - Pursuant to an exemptive order issued by the SEC, the Fund may transfer uninvested cash balances into a joint trading account managed by Wellington Management Company, LLP (“Wellington”). These balances may be invested in one or more repurchase agreements and/or short-term money market instruments.
f)	Repurchase Agreements - A repurchase agreement is an agreement by which the seller of a security agrees to repurchase the security sold at a mutually agreed upon time and price. At the time the Fund enters into a repurchase agreement, the value of the underlying collateral security(ies), including accrued interest, will be equal to or exceed the value of the repurchase agreement. Securities that serve to collateralize the repurchase agreement are held by the Fund’s custodian in book entry or physical form in the custodial account of the Fund or in a third party custodial account. Repurchase agreements are valued at cost plus accrued interest. The Fund, as shown on the Schedule of Investments, had outstanding repurchase agreements as of April 30, 2009.
g)	Forward Foreign Currency Contracts – The Fund may enter into forward foreign currency contracts that obligate the Fund to repurchase/replace or sell currencies at specified future dates. Forward foreign currency contracts may be used to hedge against adverse fluctuations in exchange rates between currencies.
	Forward foreign currency contracts involve elements of market risk in excess of the amount reflected in the Statement of Assets and Liabilities. In addition, risks may arise upon entering into these contracts from the potential inability of the counterparties to meet the terms of the contracts and from unanticipated movements in the value of the foreign currencies relative to the U.S. dollar.
h)	Fund Share Valuation and Dividend Distributions to Shareholders — Orders for the Fund’s shares are executed in accordance with the investment instructions of the shareholders. The NAV of the Fund’s shares is determined as of the close of each business day of the Exchange. The NAV is determined separately for each class of the Fund by dividing the Fund’s net assets attributable to that class by the number of shares of the class outstanding. Orders for the purchase of the Fund’s shares prior to the close of the Exchange on any day on which the Exchange is open for business are priced at the NAV determined as of the close of the Exchange. Orders after the close of the Exchange, or on a day on which the Exchange and/or the Fund is not open for business, are priced at the next determined NAV.
	The Fund intends to distribute substantially all of its net investment income and net realized capital gains to shareholders no less frequently than once a year. Normally, dividends from net investment income are declared and paid annually. Dividends are paid on shares beginning on the business day after the day when the funds used to purchase the shares are collected by the transfer agent for the Fund. Unless shareholders specify otherwise, all dividends will be automatically reinvested in additional full or fractional shares of the Fund.
	Distributions from net investment income, realized capital gains and capital are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP with respect to character and timing. These differences include but are not limited to foreign currency gains and losses, losses deferred due to wash sales adjustments, adjustments related to Passive Foreign Investment Companies and certain derivatives, and excise tax regulations.

12

	Permanent book and federal income tax basis differences relating to shareholder distributions will result in reclassifications to certain of the Fund’s capital accounts (see Federal Income Taxes: Reclassification of Capital Accounts footnote).
i)	Use of Estimates — The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and the reported amounts of income and expenses during the period. Operating results in the future could vary from the amounts derived from management’s estimates.
j)	Financial Accounting Standards Board Financial Accounting Standards No. 157 – Effective November 1, 2008, the Fund adopted Financial Accounting Standards Board (“FASB”) Statement of Financial Accounting Standards No. 157, “Fair Value Measurements” (“FAS 157”). This standard clarifies the definition of fair value for financial reporting, establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements. Fair value is defined under FAS 157 as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Under FAS 157, a fair value measurement should reflect all of the assumptions that market participants would use in pricing the asset or liability, including assumptions about the risk inherent in a particular valuation technique, the effect of a restriction on the sale or use of an asset, and the risk of nonperformance.
	Various inputs are used in determining the value of the Fund’s investment. These inputs are summarized, per FAS 157, into three broad hierarchy levels. This hierarchy is based on whether the valuation inputs are observable or unobservable. These levels are:

• Level 1 – Quoted prices in active markets for identical securities. Level 1 includes exchange-traded instruments such as domestic equities, some foreign equities, options, futures, mutual funds, ETF’s, and rights and warrants.

• Level 2 – Observable inputs other than Level 1 prices, such as quoted prices for similar securities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the security. Level 2 includes debt securities that are traded less frequently than exchange-traded instruments and that are valued using third party pricing services and foreign equities, whose value is determined using a multi-factor regression model with inputs that are observable in the market; and money market instruments, which are carried at amortized cost.

• Level 3 – Significant unobservable inputs that are supported by little or no market activity. Level 3 includes financial instruments whose values are determined using broker quotes and require significant management judgment or estimation. This category includes broker quoted securities, long dated OTC options and securities where trading has been halted or there are certain restrictions on trading. While these securities are priced using unobservable inputs, the valuation of these securities reflects the best available data and management believes the prices are a good representation of exit price.

Individual securities within any of the above mentioned asset classes may be assigned a different hierarchical level than those presented above, as individual circumstances dictate.

FAS 157 also requires that a roll forward reconciliation be shown for all Level 3 securities from the beginning of the reporting period to the end of the reporting period. Part of this reconciliation includes transfers in and/or out of Level 3. For purposes of this reconciliation, transfers in are shown at the end of period fair value and transfers out are shown at the beginning of period fair value. During the six-month period ended April 30, 2009, the Fund held no Level 3 securities.

Refer to the valuation hierarchy levels summary found following the Schedule of Investments.

FASB Staff Position No. 157-4 – In April 2009, FASB released FASB Staff Position No. 157-4, “Determining Fair Value When the Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly” (“FSP FAS 157-4”). FSP FAS 157-4 provides additional guidance on determining

13

The Hartford Global Health Fund

Notes to Financial Statements — (continued)

April 30, 2009 (Unaudited)

(000’s Omitted)

	whether a market for a financial asset is not active and a transaction is not distressed when measuring fair value under FAS 157. The FSP also requires additional disclosure detail on debt and equity securities by major investment categories. FSP FAS 157-4 is effective for interim and annual periods ending after June 15, 2009. At this time, management is evaluating the implications of FSP FAS 157-4 and does not believe it will impact valuation but will require additional disclosure. This additional disclosure has not yet been implemented.
k)	Financial Accounting Standards Board Financial Accounting Standards No. 161 – In March 2008, the FASB released Statement of Financial Accounting Standards No. 161, “Disclosures about Derivative Instruments and Hedging Activities” (“FAS 161”). FAS 161 requires companies to disclose information detailing the objectives and strategies for using derivative instruments, the level of derivative activity entered into by the company and any credit risk-related contingent features of the agreements. The application of FAS 161 is required for fiscal years and interim periods beginning after November 15, 2008. At this time, management is evaluating the implications of FAS 161 and has not yet implemented the new disclosure standard.
l)	Indemnifications: Under the Company’s organizational documents, the Company shall indemnify its officers and directors to the full extent required or permitted under Maryland General Corporation Law and the federal securities law. In addition, the Company, on behalf of the Fund, may enter into contracts that contain a variety of indemnifications. The Company’s maximum exposure under these arrangements is unknown. However, the Company has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote.

3. Federal Income Taxes:

a)

Federal Income Taxes - For federal income tax purposes, the Fund intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code (“IRC”) by distributing substantially all of its taxable net investment income and net realized capital gains to its shareholders and otherwise complying with the requirements of regulated investment companies. The Fund has distributed substantially all of its income and capital gains in prior years and the Fund intends to distribute substantially all of its income and gains during the calendar year ending December 31, 2009. Accordingly, no provision for federal income or excise taxes has been made in the accompanying financial statements. Distributions from short-term capital gains are treated as ordinary income distributions for federal income tax purposes.

b)

The tax character of distributions paid by the Fund for the periods indicated is as follows (as adjusted for dividends payable):

	For the Year Ended		For the Year Ended
	October 31, 2008		October 31, 2007
Ordinary Income	$	18,256	$	6,779
Long-Term Capital Gains *		48,170		21,945

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

As of October 31, 2008, the Fund’s components of distributable earnings (deficit) on a tax basis were as follows:

	Amount
Undistributed Long-Term Capital Gain	$	30,075
Unrealized Depreciation*	$	(177,532	)
Total Accumulated Deficit	$	(147,457	)

* The differences between book-basis and tax-basis unrealized appreciation (depreciation) are attributable to the tax deferral of wash sales losses, the mark-to-market adjustment for certain derivatives in accordance with IRC Sec. 1256, the mark to market for Passive Foreign Investment Companies and basis differences in real estate investment trusts.

14

c)	Reclassification of Capital Accounts - In accordance with American Institute of Certified Public Accountants (AICPA) Statement of Position 93-2, Determination, Disclosure, and Financial Statement Presentation of Income, Capital Gain, and Return of Capital Distributions by Investment Companies, the Fund has recorded reclassifications in its capital accounts. These reclassifications had no impact on the NAV of the Fund. The reclassifications are a result of permanent differences between GAAP and tax accounting for such items as net operating losses that reduce distribution requirements. Adjustments are made to reflect the impact these items have on current and future distributions to shareholders. Therefore, the source of the Fund’s distributions may be shown in the accompanying Statement of Changes in Net Assets as from net investment income, from net realized gains on investments or from capital depending on the type of book and tax differences that exist. As of October 31, 2008, the Fund recorded reclassifications to increase undistributed net investment income by $2,063, decrease accumulated net realized loss by $706, and decrease paid in capital by $1,357.
d)	Capital Loss Carryforward - The Fund had no capital loss carryforwards for U.S. federal income tax purposes as of October 31, 2008.
e)	Financial Accounting Standards Board Interpretation No. 48 – On July 13, 2006, the FASB released FASB Interpretation No. 48 “Accounting for Uncertainty in Income Taxes” (“FIN 48”). FIN 48 provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. The Fund adopted FIN 48 for fiscal years beginning after December 15, 2006. Management has evaluated the implications of FIN 48 for all open tax years (tax years ended October 31, 2006 – 2008) and has determined there is no impact to the Fund’s financial statements.

4. Expenses:

a)

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

The schedule below reflects the rates of compensation paid to HIFSCO for investment management services rendered during the six-month period ended April 30, 2009; the rates are accrued daily and paid monthly:

Average Daily Net Assets	Annual Fee
On first $500 million		0.9000	%
On next $500 million		0.8500	%
On next $4 billion		0.8000	%
On next $5 billion		0.7975	%
Over $10 billion		0.7950	%

b) Accounting Services Agreement – Pursuant to the Fund Accounting Agreement between Hartford Life Insurance Company (“HLIC”) and the Fund, HLIC provides accounting services to the Fund and receives monthly compensation on the Fund’s average net assets. The Fund’s accounting service fees are accrued daily and paid monthly.

Average Daily Net Assets	Annual Fee
On first $5 billion		0.014	%
On next $5 billion		0.012	%
Over $10 billion		0.010	%

15

The Hartford Global Health Fund

Notes to Financial Statements — (continued)

April 30, 2009 (Unaudited)

(000’s Omitted)

c) Operating Expenses - Allocable expenses incurred by the Company are allocated to each Fund and allocated to classes within the Fund in proportion to the average daily net assets of the Fund and each class, except where allocation of certain expenses is more fairly made directly to the Fund or to specific classes within a Fund. During the six-month period ended April 30, 2009, HIFSCO has contractually limited the total operating expenses of this Fund, exclusive of taxes, interest expense, brokerage commissions, certain distribution expenses and extraordinary expenses as follows:

Class A	Class B	Class C	Class I	Class R3	Class R4	Class R5	Class Y
1.60%	2.35%	2.35%	1.35%	1.85%	1.55%	1.25%	1.20%

d)

Fees Paid Indirectly - The Fund has entered into agreements with State Street Global Markets, LLC and Russell Implementation Services Inc. to partially recapture non-discounted trade commissions. Such rebates are used to pay a portion of the Fund’s expenses. In addition, the Fund’s custodian bank has also agreed to reduce its fees when the Fund maintains cash on deposit in the non-interest-bearing custody account. For the six-month period ended April 30, 2009, these amounts are included in the Statement of Operations.

The ratio of expenses to average net assets in the accompanying financial highlights excludes the reduction in expenses related to fees paid indirectly. Had the fees paid indirectly been included, the annualized expense ratio for the periods listed below would have been as follows:

	Annualized
	Six-Month
	Period			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended
	Ended April			October 31,			October 31,			October 31,			October 31,			October 31,
	30, 2009			2008			2007			2006			2005			2004
Class A Shares		1.55	%		1.41	%		1.40	%		1.60	%		1.58	%		1.63	%
Class B Shares		2.09			2.24			2.29			2.31			2.33			2.34
Class C Shares		2.29			2.14			2.14			2.31			2.33			2.34
Class I Shares		1.27			1.10			1.08			1.14	*
Class R3 Shares		1.83			1.85			1.77	†
Class R4 Shares		1.40			1.35			1.45	‡
Class R5 Shares		1.10			1.05			1.17	§
Class Y Shares		0.98			0.95			0.95			1.08			1.06			1.10

*	From August 31, 2006 (commencement of operations), through October 31, 2006
†	From December 22, 2006 (commencement of operations), through October 31, 2007
‡	From December 22, 2006 (commencement of operations), through October 31, 2007
§	From December 22, 2006 (commencement of operations), through October 31, 2007

e)

Distribution and Service Plan for Class A, B, C, R3 and R4 Shares - HIFSCO is the principal underwriter and distributor of the Fund. HIFSCO is engaged in distribution activities, which include marketing and distribution of shares through broker-dealers, financing distribution costs and maintaining financial books and records. For the six-month period ended April 30, 2009, HIFSCO received front-end load sales charges of $160 and contingent deferred sales charges of $52 from the Fund.

The Fund has adopted Distribution and Service Plans in accordance with Rule 12b-1 of the Investment Company Act of 1940, as amended, to compensate the distributor (HIFSCO) for activities intended to result in the sale and distribution of Classes A, B, C, R3 and R4 shares and for providing services for shareholders. The Rule 12b-1 plan applicable to Class A shares of the Funds provides for payment of a Rule 12b-1 fee of up to 0.35% of average daily net assets; however, the Board of Directors has currently authorized 12b-1 payments of only up to 0.25%. Some or all of the fee may be used for shareholder servicing expenses with the remainder used for distribution expenses. Some or the entire Rule 12b-1 fee for Class B shares may be remitted to broker-dealers for distribution and/or shareholder account services. Under the Class B Plan, the Fund pays the distributor 1.00% of the average daily net assets of Class B shares that are outstanding for 8

16

	years or less, 0.25% of which is a fee for services provided to existing shareholders with the remainder used for distribution expenses. After eight years, Class B shares convert to Class A shares. Upon conversion to Class A shares, the Class A plan described above will apply to those shares. Under the Class C Plan, the Fund pays the distributor 1.00% of the average daily net assets of Class C shares outstanding, 0.25% of which is intended as a fee for services provided to existing shareholders with the remainder used for distribution expenses. For Class C shares, some or the entire fee may be remitted to broker-dealers for distribution and/or shareholder account services. Class R3 shares have a distribution fee of 0.50% and Class R4 shares have a distribution fee of 0.25%. For Classes R3 and R4 shares, some or the entire fee may be remitted to broker dealers for distribution and/or shareholder account services. The Fund’s 12b-1 fees are accrued daily and paid monthly.
	For the six-month period ended April 30, 2009, total sales commissions paid to affiliated brokers/dealers of The Hartford for distributing the Fund’s shares were $8. These commissions are in turn paid to sales representatives of the broker/dealers.
f)	Other Related Party Transactions – Certain officers of the Fund are directors and/or officers of HIFSCO and/or The Hartford or its subsidiaries. For the six-month period ended April 30, 2009, a portion of the Fund’s chief compliance officer’s salary was paid by the Fund in the amount of $1. Hartford Administrative Services Company (“HASCO”), an indirect wholly owned subsidiary of The Hartford, provides transfer agent services to the Fund. HASCO was compensated $642 for providing such services. These fees are accrued daily and paid monthly.
g)	Payments from Affiliate:
	The total return in the accompanying financial highlights includes payment from affiliates. Had the payment from affiliates been excluded, the total return for the periods listed below would have been as follows:

	Impact from			Total Return
	Payment from			Excluding
	Affiliate for SEC			Payment from
	Settlement for the			Affiliate for the
	Year Ended			Year Ended
	October 31, 2007			October 31, 2007
Class A		0.01	%		9.94	%
Class B		0.01			8.90
Class C		0.01			9.09
Class I		0.01			10.46
Class Y		0.01			10.44

5.	Investment Transactions:
	For the six-month period ended April 30, 2009, the Fund’s aggregate purchases and sales of investment securities (excluding short-term investments) were as follows:

	Amount
Cost of Purchases for U.S. Government Obligations		247,450
Sales Proceeds for U.S. Government Obligations		477,064

17

The Hartford Global Health Fund

Notes to Financial Statements — (continued)

April 30, 2009 (Unaudited)

(000’s Omitted)

6.	Capital Share Transactions:
	The following information is for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	For the Six-Month Period Ended April 30, 2009												For the Year Ended October 31, 2008
			Shares					Shares							Shares					Shares
			Issued for					Issued		Net Increase					Issued for					Issued		Net Increase
	Shares		Reinvested		Shares			from		(Decrease) of			Shares		Reinvested		Shares			from		(Decrease) of
	Sold		Dividends		Redeemed			Merger		Shares			Sold		Dividends		Redeemed			Merger		Shares
Class A
Shares		1,927		1,127		(4,924	)		—		(1,870	)		6,482		1,678		(11,571	)		—		(3,411	)
Amount	$	22,007	$	12,851	$	(55,414	)	$	—	$	(20,556	)	$	104,793	$	28,823	$	(174,098	)	$	—	$	(40,482	)
Class B
Shares		104		203		(941	)		—		(634	)		338		351		(1,509	)		—		(820	)
Amount	$	1,098	$	2,130	$	(9,826	)	$	—	$	(6,598	)	$	5,133	$	5,622	$	(22,130	)	$	—	$	(11,375	)
Class C
Shares		436		363		(1,443	)		—		(644	)		1,437		515		(1,782	)		—		170
Amount	$	4,649	$	3,822	$	(15,042	)	$	—	$	(6,571	)	$	21,700	$	8,271	$	(26,055	)	$	—	$	3,916
Class I
Shares		316		131		(2,820	)		—		(2,373	)		4,410		49		(1,892	)		—		2,567
Amount	$	3,750	$	1,501	$	(33,011	)	$	—	$	(27,760	)	$	63,808	$	851	$	(26,844	)	$	—	$	37,815
Class R3
Shares		29		2		(4	)		—		27			35		—		(3	)		—		32
Amount	$	328	$	24	$	(45	)	$	—	$	307		$	557	$	7	$	(43	)	$	—	$	521
Class R4
Shares		144		16		(33	)		—		127			294		2		(26	)		—		270
Amount	$	1,737	$	189	$	(381	)	$	—	$	1,545		$	4,897	$	36	$	(406	)	$	—	$	4,527
Class R5
Shares		23		6		(15	)		—		14			110		1		(25	)		—		86
Amount	$	271	$	65	$	(184	)	$	—	$	152		$	1,917	$	25	$	(431	)	$	—	$	1,511
Class Y
Shares		17		583		(12,040	)		—		(11,440	)		29		777		(28	)		—		778
Amount	$	203	$	7,032	$	(139,247	)	$	—	$	(132,012	)	$	519	$	14,028	$	(493	)	$	—	$	14,054

The following reflects the conversion of Class B Shares into Class A Shares (reflected as Class A Shares issued and Class B shares redeemed) for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	Shares		Dollars
For the Six-Month Period Ended April 30, 2009		294	$	3,350
For the Year Ended October 31, 2008		324	$	5,117

7.	Line of Credit:
	The Fund is one of several Hartford Funds that participate in a $500 million committed revolving line of credit facility. The facility is to be used for temporary or emergency purposes. Under the arrangement, the Fund is required to own securities having a market value in excess of 300% of the total bank borrowings. The interest rate on borrowings varies depending on the nature of the loan. The facility also requires a fee to be paid based on the amount of the commitment. During the six-month period ended April 30, 2009, the Fund did not have any borrowings under this facility.
8.	Industry Classifications:
	Other than the industry classifications “Other Investment Pools and Funds” and “Exchange Traded Funds”, equity industry classifications used in this report are the Global Industry Classification Standard, which was developed by and is the exclusive property and service mark of MSCI, Inc. and Standard & Poor’s.

18

The Hartford Global Health Fund

Financial Highlights — (Unaudited)

	— Selected Per-Share Data — (a)																												— Ratios and Supplemental Data —
																																		Ratio of			Ratio of			Ratio of
																																		Expenses			Expenses			Expenses
																																		to Average			to Average			to Average
																																		Net Assets			Net Assets			Net Assets
																																		Before			After			After
								Net																										Waivers			Waivers			Waivers
								Realized																										and			and			and
								and Un-								Distrib-								Net										Reimburse-			Reimburse-			Reimburse-
			Net			Pay-		realized						Dividends		utions								Increase			Net					Net		ments and			ments and			ments and			Ratio of Net			Port-
	Net Asset		Invest-			ments		Gain						from Net		from			Distri-					(Decrease)			Asset					Assets at		Including			Including			Excluding			Investment			folio
	Value at		ment			from		(Loss) on			Total from			Invest-		Realized			butions		Total			in Net			Value at					End of		Expenses			Expenses			Expenses			Income to			Turn-
	Beginning		Income			(to)		Invest-			Investment			ment		Capital			from		Distri-			Asset			End of		Total			Period		not Subject			not Subject			not Subject			Average Net			over
Class	of Period		(Loss)			Affiliate		ments			Operations			Income		Gains			Capital		butions			Value			Period		Return(b)			(000’s)		to Cap(c)			to Cap(c)			to Cap(c)			Assets			Rate(d)
For the Six-Month Period Ended April 30, 2009 (Unaudited) (e)
A	$	12.69	$	(0.02	)	$	—	$	(0.91	)	$	(0.93	)	$	—	$	(0.61	)	$	—	$	(0.61	)	$	(1.54	)	$	11.15		(7.45	)%(f)	$	242,362		1.58	%(g)		1.55	%(g)		1.55	%(g)		(0.29	)%(g)		47	%
B		11.74		(0.04	)		—		(0.85	)		(0.89	)		—		(0.61	)		—		(0.61	)		(1.50	)		10.24		(7.73	) (f)		33,158		2.56	(g)		2.09	(g)		2.09	(g)		(0.85	) (g)		—
C		11.78		(0.05	)		—		(0.86	)		(0.91	)		—		(0.61	)		—		(0.61	)		(1.52	)		10.26		(7.88	) (f)		74,603		2.29	(g)		2.29	(g)		2.29	(g)		(1.03	) (g)		—
I		12.81		—			—		(0.93	)		(0.93	)		—		(0.61	)		—		(0.61	)		(1.54	)		11.27		(7.38	) (f)		11,111		1.27	(g)		1.27	(g)		1.27	(g)		(0.08	) (g)		—
R3		13.19		(0.03	)		—		(0.96	)		(0.99	)		—		(0.61	)		—		(0.61	)		(1.60	)		11.59		(7.63	) (f)		750		1.83	(g)		1.83	(g)		1.83	(g)		(0.46	) (g)		—
R4		13.29		(0.01	)		—		(0.96	)		(0.97	)		—		(0.61	)		—		(0.61	)		(1.58	)		11.71		(7.41	) (f)		4,940		1.40	(g)		1.40	(g)		1.40	(g)		(0.10	) (g)		—
R5		13.38		0.01			—		(0.97	)		(0.96	)		—		(0.61	)		—		(0.61	)		(1.57	)		11.81		(7.28	) (f)		1,442		1.11	(g)		1.11	(g)		1.11	(g)		0.17	(g)		—
Y		13.40		0.01			—		(0.97	)		(0.96	)		—		(0.61	)		—		(0.61	)		(1.57	)		11.83		(7.27	) (f)		1,582		0.98	(g)		0.98	(g)		0.98	(g)		0.11	(g)		—
For the Year Ended October 31, 2008
A		18.85		(0.03	)		—		(4.83	)		(4.86	)		—		(1.30	)		—		(1.30	)		(6.16	)		12.69		(27.59	)		299,699		1.41			1.41			1.41			(0.18	)		67
B		17.67		(0.18	)		—		(4.45	)		(4.63	)		—		(1.30	)		—		(1.30	)		(5.93	)		11.74		(28.17	)		45,475		2.32			2.24			2.24			(1.02	)		—
C		17.71		(0.14	)		—		(4.49	)		(4.63	)		—		(1.30	)		—		(1.30	)		(5.93	)		11.78		(28.10	)		93,208		2.15			2.15			2.15			(0.92	)		—
I		18.96		0.01			—		(4.86	)		(4.85	)		—		(1.30	)		—		(1.30	)		(6.15	)		12.81		(27.36	)		43,036		1.11			1.11			1.11			0.10			—
R3		19.59		(0.03	)		—		(5.07	)		(5.10	)		—		(1.30	)		—		(1.30	)		(6.40	)		13.19		(27.78	)		503		1.91			1.85			1.85			(0.67	)		—
R4		19.66		—			—		(5.07	)		(5.07	)		—		(1.30	)		—		(1.30	)		(6.37	)		13.29		(27.52	)		3,921		1.35			1.35			1.35			(0.02	)		—
R5		19.70		0.03			—		(5.05	)		(5.02	)		—		(1.30	)		—		(1.30	)		(6.32	)		13.38		(27.18	)		1,449		1.05			1.05			1.05			0.27			—
Y		19.74		0.05			—		(5.09	)		(5.04	)		—		(1.30	)		—		(1.30	)		(6.34	)		13.40		(27.23	)		155,104		0.95			0.95			0.95			0.28			—
For the Year Ended October 31, 2007
A		17.84		(0.04	)		—		1.73			1.69			—		(0.68	)		—		(0.68	)		1.01			18.85		9.96	(h)		509,341		1.41			1.41			1.41			(0.25	)		41
B		16.92		(0.20	)		—		1.63			1.43			—		(0.68	)		—		(0.68	)		0.75			17.67		8.92	(h)		82,932		2.30			2.29			2.29			(1.15	)		—
C		16.93		(0.15	)		—		1.61			1.46			—		(0.68	)		—		(0.68	)		0.78			17.71		9.11	(h)		137,101		2.15			2.15			2.15			(0.99	)		—
I		17.86		0.01			—		1.77			1.78			—		(0.68	)		—		(0.68	)		1.10			18.96		10.48	(h)		15,017		1.07			1.07			1.07			0.08			—
R3(i)		18.27		(0.02	)		—		1.34			1.32			—		—			—		—			1.32			19.59		7.22	(f)		112		1.75	(g)		1.75	(g)		1.75	(g)		(0.50	) (g)		—
R4(j)		18.27		—			—		1.39			1.39			—		—			—		—			1.39			19.66		7.61	(f)		494		1.41	(g)		1.41	(g)		1.41	(g)		—	(g)		—
R5(k)		18.27		—			—		1.43			1.43			—		—			—		—			1.43			19.70		7.83	(f)		434		1.14	(g)		1.14	(g)		1.14	(g)		—	(g)		—
Y		18.57		0.04			—		1.81			1.85			—		(0.68	)		—		(0.68	)		1.17			19.74		10.45	(h)		213,110		0.95			0.95			0.95			0.20			—
For the Year Ended October 31, 2006
A		16.50		(0.07	)		—		2.41			2.34			—		(1.00	)		—		(1.00	)		1.34			17.84		14.96			370,285		1.61			1.60			1.60			(0.53	)		30
B		15.81		(0.20	)		—		2.31			2.11			—		(1.00	)		—		(1.00	)		1.11			16.92		14.10			80,574		2.45			2.32			2.32			(1.27	)		—
C		15.81		(0.18	)		—		2.30			2.12			—		(1.00	)		—		(1.00	)		1.12			16.93		14.17			97,956		2.31			2.31			2.31			(1.25	)		—
I(l)		17.34		—			—		0.52			0.52			—		—			—		—			0.52			17.86		3.00	(f)		785		1.26	(g)		1.15	(g)		1.15	(g)		(0.20	) (g)		—
Y		17.05		(0.01	)		—		2.53			2.52			—		(1.00	)		—		(1.00	)		1.52			18.57		15.56			192,814		1.08			1.08			1.08			(0.03	)		—
For the Year Ended October 31, 2005
A		15.00		(0.08	)		—		2.35			2.27			—		(0.77	)		—		(0.77	)		1.50			16.50		15.67			209,835		1.71			1.60			1.60			(0.55	)		50
B		14.50		(0.20	)		—		2.28			2.08			—		(0.77	)		—		(0.77	)		1.31			15.81		14.86			71,204		2.52			2.35			2.35			(1.30	)		—
C		14.51		(0.19	)		—		2.26			2.07			—		(0.77	)		—		(0.77	)		1.30			15.81		14.78			72,546		2.36			2.35			2.35			(1.30	)		—
Y		15.41		(0.01	)		—		2.42			2.41			—		(0.77	)		—		(0.77	)		1.64			17.05		16.19			169,698		1.08			1.08			1.08			(0.12	)		—
For the Year Ended October 31, 2004
A		13.80		(0.10	)		—		1.36			1.26			—		(0.06	)		—		(0.06	)		1.20			15.00		9.21			170,672		1.81			1.65			1.65			(0.68	)		41
B		13.43		(0.20	)		—		1.33			1.13			—		(0.06	)		—		(0.06	)		1.07			14.50		8.49			66,035		2.55			2.35			2.35			(1.38	)		—
C		13.44		(0.20	)		—		1.33			1.13			—		(0.06	)		—		(0.06	)		1.07			14.51		8.49			61,390		2.37			2.35			2.35			(1.38	)		—
Y		14.09		(0.02	)		—		1.40			1.38			—		(0.06	)		—		(0.06	)		1.32			15.41		9.88			1,299		1.12			1.12			1.12			(0.14	)		—

(a)	Information presented relates to a share outstanding throughout the indicated period.
(b)	Assumes initial investment at net asset value at the beginning of each period, reinvestment of all distributions, the complete redemption of the investment at net asset value at the end of each period and no sales charge. Total return would be reduced if sales charges were taken into account.
(c)	Ratios do not include fees paid indirectly (See Expenses in the accompanying Notes to Financial Statements).
(d)	Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between the classes of shares issued.
(e)	Per share amounts have been calculated using average shares outstanding method.
(f)	Not annualized.
(g)	Annualized.
(h)	Total return without the inclusion of the Payments from (to) Affiliate, as noted on the Statement of Operations, can be found in Expenses in the accompanying Notes to Financial Statements.
(i)	Commenced operations on December 22, 2006.
(j)	Commenced operations on December 22, 2006.
(k)	Commenced operations on December 22, 2006.
(l)	Commenced operations on August 31, 2006.

19

The Hartford Global Health Fund

Directors and Officers (Unaudited)

The Board of Directors appoints officers who are responsible for the day-to-day operations of the Fund and who execute policies formulated by the Directors. Each director serves until his or her death, resignation, or retirement or until the next annual meeting of shareholders is held or until his or her successor is elected and qualifies.

Directors and officers who are employed by or who have a financial interest in The Hartford are considered “interested” persons of the Fund pursuant to the Investment Company Act of 1940, as amended. Each officer and three of the Fund’s directors, as noted in the chart below, are “interested” persons of the Fund. Each director serves as a director for The Hartford Mutual Funds, Inc., The Hartford Mutual Funds II, Inc., The Hartford Income Shares Fund, Inc., Hartford Series Fund, Inc., and Hartford HLS Series Fund II, Inc., which collectively consist of 100 funds. Correspondence may be sent to directors and officers c/o Hartford Mutual Funds, P.O. Box 2999, Hartford, Connecticut 06104-2999, except that correspondence to Ms. Fagely may be sent to 500 Bielenberg Drive, Woodbury, Minnesota 55125.

The table below sets forth, for each director and officer, his or her name, year of birth, current position with the Fund and date first elected or appointed to The Hartford Mutual Funds, Inc. (“MF”) and The Hartford Mutual Funds II, Inc. (“MF2”), principal occupation, and, for directors, other directorships held. The Fund’s statement of additional information contains further information on the directors and is available free of charge by calling 1-888-843-7824 or writing to Hartford Mutual Funds, P.O. Box 64387, St. Paul, MN 55164-0387.

Information on the aggregate remuneration paid to the directors of the Fund can be found in the Statement of Operations herein. The Fund pays a portion of the Chief Compliance Officer’s compensation, but does not pay salaries or compensation to any of its officers or directors who are employed by The Hartford.

Non-Interested Directors

Lynn S. Birdsong (1946) Director since 2003, Co-Chairman of the Investment Committee

Mr. Birdsong is a private investor. Since 1981, Mr. Birdsong has been a partner in Birdsong Company, an advertising specialty firm. Since 2003, Mr. Birdsong has been an independent director of The Japan Fund. From 2003 to March 2005, Mr. Birdsong was an independent director of the Atlantic Whitehall Funds. From 1979 to 2002, Mr. Birdsong was a managing director of Zurich Scudder Investments, an investment management firm. During his employment with Scudder, Mr. Birdsong was an interested director of The Japan Fund.

Robert M. Gavin, Jr. (1940) Director since 2002 (MF) and 1986 (MF2), Chairman of the Board since 2004

Dr. Gavin is an educational consultant. Prior to September 1, 2001, he was President of Cranbrook Education Community and prior to July 1996, he was President of Macalester College, St. Paul, Minnesota.

Duane E. Hill (1945) Director since 2001 (MF) and 2002 (MF2), Chairman of the Nominating Committee

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

Sandra S. Jaffee (1941) Director since 2005

Ms. Jaffee is Chairman and Chief Executive Officer of Fortent (formerly Searchspace Group), a leading provider of compliance/regulatory technology to financial institutions. Ms. Jaffee served as an Entrepreneur in Residence with Warburg Pincus, a private equity firm, from August 2004 to August 2005. From September 1995 to July 2004, Ms. Jaffee served as Executive Vice President at Citigroup, where she was President and Chief Executive Officer of Citibank’s Global Securities Services (1995-2003).

William P. Johnston (1944) Director since 2005, Chairman of the Compliance Committee

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

20

Phillip O. Peterson (1944) Director since 2002 (MF) and 2000 (MF2), Chairman of the Audit Committee

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

Lemma W. Senbet (1946) Director since 2005

Dr. Senbet is the William E. Mayer Chair Professor of Finance at the University of Maryland, Robert H. Smith School of Business. He was chair of the Finance Department during 1998-2006. Previously he was an endowed professor of finance at the University of Wisconsin-Madison. Also, he was director of the Fortis Funds from March 2000-July 2002. Dr. Senbet served the finance profession in various capacities, including as director of the American Finance Association and President of the Western Finance Association. In 2006, Dr. Senbet was inducted Fellow of Financial Management Association International for his career-long distinguished scholarship and professional service.

Interested Directors and Officers

Thomas M. Marra* (1958) Director since 2002

Mr. Marra has served as President and Chief Operating Officer of The Hartford Financial Services Group, Inc. (“The Hartford”) since 2007. Mr. Marra currently serves as Director of Hartford Life, Inc. (“HL, Inc.”). Mr. Marra served as Chief Operating Officer of Hartford Life Insurance Company, Inc. (“Hartford Life”) (2000-2008), as President of Hartford Life (2002-2008) and as Director of Hartford Life’s Investment Products Division from 1998 to 2000.

*    On February 24, 2009, The Hartford and Mr. Marra determined to enter into a mutually agreed separation whereby Mr. Marra will retire, and his role as an executive officer and employee of The Hartford will terminate, effective July 3, 2009. Mr. Marra will resign his position as a Director of the Fund effective June 25, 2009.

Lowndes A. Smith (1939) Director since 2002, Co-Chairman of the Investment Committee

Mr. Smith served as Vice Chairman of The Hartford from February 1997 to January 2002, as President and Chief Executive Officer of Hartford Life, Inc. from February 1997 to January 2002, and as President and Chief Operating Officer of The Hartford Life Insurance Companies from January 1989 to January 2002. Mr. Smith serves as a Director of White Mountains Insurance Group, Ltd., One Beacon Insurance, Symetra Financial and as a Managing Director of Whittington Gray Associates.

John C. Walters* (1962) Director since 2008

Mr. Walters currently serves as Chief Executive Officer, President and Director of HL, Inc. Mr. Walters previously served as President of the U.S. Wealth Management Division of Hartford Life, Inc., as Co-Chief Operating Officer of Hartford Life Insurance Company (2007-2008) and as Executive Vice President and Director of its Investment Products Division (2000-2008). Mr. Walters also serves as Chairman of the Board, Chief Executive Officer, President and Director of Hartford Life Insurance Company and as Executive Vice President of The Hartford. In addition, Mr. Walters is Manager of HL Investment Advisors, LLC (“HL Advisors”).

*    Mr. Walters previously served as President and Chief Executive Officer of the Fund (2007 – 2009).

Other Officers

Robert M. Arena, Jr. (1968) President and Chief Executive Officer since 2009 (served as Vice President of the Fund (2006 – 2009))

Mr. Arena serves as Executive Vice President of Hartford Life Insurance Company, (“Hartford Life”). Additionally, Mr. Arena is Director and Senior Vice President of Hartford Administrative Services Company, (“HASCO”), Manager, Chief Executive Officer and President of Hartford Investment Financial Services, LLC (“HIFSCO”) and HL Advisors. Prior to joining The Hartford in 2004, he was Senior Vice President in charge of Product Management for American Skandia/Prudential in the individual annuities division. Mr. Arena joined American Skandia in 1996.

Tamara L. Fagely (1958) Vice President, Treasurer and Controller since 2002 (MF) 1993 (MF2)

Ms. Fagely has been a Vice President of HASCO since 1998 and Chief Financial Officer since 2006. Currently Ms. Fagely is a Vice President of Hartford Life. She served as Assistant Vice President of Hartford Life from December 2001 through March 2005. In addition, Ms. Fagely is Controller and Chief Financial Officer of HIFSCO.

Brian Ferrell (1962) AML Compliance Officer since 2008

Mr. Ferrell has served as Assistant Vice President and AML Compliance Officer for The Hartford since 2006 and as AML Compliance Officer for HASCO and Hartford Investor Services Company, LLC (“HISC”) since 2008. Prior to joining The Hartford in 2006, Mr. Ferrell held various positions at the U.S. Department of the Treasury, (the “Treasury”), from 2001 to 2006 where he served as Chief Counsel for the Treasury’s Financial Crimes Enforcement Network, (“FinCEN”) from 2005 – 2006.

21

The Hartford Global Health Fund

Directors and Officers (Unaudited) — (continued)

Thomas D. Jones, III (1965) Vice President and Chief Compliance Officer since 2006

Mr. Jones serves as Chief Compliance Officer for the Hartford Mutual Funds and Vice President and Director of Securities Compliance for The Hartford. He is also Vice President of HIFSCO, HL Advisors, and Hartford Life Insurance Company. Mr. Jones joined The Hartford in 2006 from SEI Investments, where he served as Chief Compliance Officer for its mutual funds and investment advisers. Prior to joining SEI, Mr. Jones was First Vice President and Compliance Director for Merrill Lynch Investment Managers (Americas) (“MLIM”), where he worked from 1992-2004. At MLIM, Mr. Jones was responsible for the compliance oversight of various investment products, including mutual funds, wrap accounts, institutional accounts and alternative investments.

Edward P. Macdonald (1967) Vice President, Secretary and Chief Legal Officer since 2005

Mr. Macdonald serves as Assistant General Counsel and Assistant Vice President of The Hartford and Chief Legal Officer and Vice President of HIFSCO. He also serves as Vice President and Secretary of HASCO, Assistant Vice President of Hartford Life, and Chief Legal Officer, Secretary and Vice President of HL Advisors. Prior to joining The Hartford in 2005, Mr. Macdonald was Chief Counsel, Investment Management for Prudential Financial (formerly American Skandia Investment Services, Inc.). He joined Prudential in April 1999.

Vernon J. Meyer (1964) Vice President since 2006

Mr. Meyer serves as Senior Vice President of Hartford Life and as Director of its Investment Advisory Group in the Individual Markets Group segment. He also serves as Senior Vice President of HIFSCO and HL Advisors. Prior to joining The Hartford in 2004, Mr. Meyer was with MassMutual which he joined in 1987.

D. Keith Sloane (1960) Vice President since 2009

Mr. Sloane is a Senior Vice President of Hartford Life where he serves as Director of mutual fund product management for The Hartford’s mutual funds and 529 college savings businesses. Additionally, Mr. Sloane currently serves as Senior Vice President of HIFSCO, HL Advisors, and HASCO. Prior to joining The Hartford in 2007, Mr. Sloane was Director of product marketing and led the mutual fund business for Wachovia Securities (“Wachovia”) in their investment products group. Mr. Sloane joined Wachovia in 1995.

Jane Wolak (1961) Vice President since 2009

Ms. Wolak currently serves as Vice President of Hartford Life. Ms. Wolak joined Hartford Life as Vice President, Retail Product Services in May 2007. She is also Vice President of HASCO. Previously, Ms. Wolak was with Sun Life Financial where she held the position of Vice President, Service Center Operations from 2001 – 2007.

HOW TO OBTAIN A COPY OF THE FUND’S PROXY VOTING POLICIES AND VOTING RECORDS

A description of the policies and procedures that the Fund uses to determine how to vote proxies relating to portfolio securities and a record of how the Fund voted any proxies for the twelve-month period ended June 30, 2008 is available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov.

QUARTERLY PORTFOLIO HOLDINGS INFORMATION

The Fund files a complete schedule of portfolio holdings with the Commission for the first and third quarters of each fiscal year on Form N-Q. The Fund’s Forms are available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov. The Form N-Q may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330.

22

The Hartford Global Health Fund

Expense Example (Unaudited)

Your Fund’s Expenses

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments and contingent deferred sales charges (CDSC) (2) ongoing costs including management fees; distribution fees; and other fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the period of October 31, 2008 through April 30, 2009.

Actual Expenses

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

Hypothetical Example for Comparison Purposes

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

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads) and CDSC. Therefore, the second line 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 are equal to the Fund’s annualized expense ratios multiplied by average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

	Actual return						Hypothetical (5% return before expenses)
					Expenses paid						Expenses paid					Days in
					during the period						during the period					the		Days
	Beginning		Ending Account		October 31, 2008		Beginning		Ending Account		October 31,		Annualized			current		in the
	Account Value		Value		through		Account Value		Value		2008 through		expense			1/2		full
	October 31, 2008		April 30, 2009		April 30, 2009		October 31, 2008		April 30, 2009		April 30, 2009		ratio			year		year
Class A	$	1,000.00	$	925.48	$	7.39	$	1,000.00	$	1,017.10	$	7.75		1.55	%		181		365
Class B	$	1,000.00	$	922.71	$	9.96	$	1,000.00	$	1,014.43	$	10.43		2.09			181		365
Class C	$	1,000.00	$	921.23	$	10.90	$	1,000.00	$	1,013.43	$	11.43		2.29			181		365
Class I	$	1,000.00	$	926.23	$	6.06	$	1,000.00	$	1,018.49	$	6.35		1.27			181		365
Class R3	$	1,000.00	$	923.72	$	8.72	$	1,000.00	$	1,015.71	$	9.14		1.83			181		365
Class R4	$	1,000.00	$	925.88	$	6.68	$	1,000.00	$	1,017.85	$	7.00		1.40			181		365
Class R5	$	1,000.00	$	927.17	$	5.30	$	1,000.00	$	1,019.29	$	5.55		1.11			181		365
Class Y	$	1,000.00	$	927.28	$	4.68	$	1,000.00	$	1,019.93	$	4.90		0.98			181		365

23

The Hartford Global Technology Fund

Table of Contents

Manager Discussions (Unaudited)	2
Financial Satements
Schedule of Investments at April 30, 2009 (Unaudited)	4
Statement of Assets and Liabilities at April 30, 2009 (Unaudited)	6
Statement of Operations for the Six Month Period Ended April 30, 2009 (Unaudited)	7
Statement of Changes in Net Assets for the Six Month Period Ended April 30, 2009 (Unaudited) and the Year Ended October 31, 2008	8
Notes to Financial Statements (Unaudited)	9
Financial Highlights (Unaudited)	18
Directors and Officers (Unaudited)	19
How to Obtain a Copy of the Fund’s Proxy Voting Policies and Proxy Voting Records (Unaudited)	21
Quarterly Portfolio Holdings Information (Unaudited)	21
Expense Example (Unaudited)	22

The Hartford Global Technology Fund
(subadvised by Wellington Management Company, LLP)

Performance Overview(1) 5/01/00 - 4/30/09
Growth of a $10,000 investment in Class A which includes Sales Charge

S&P 500 Index is a market capitalization weighted price index composed of 500 widely held common stocks.

S&P North American Technology Sector Index is a modified capitalization-weighted index based on United States-headquartered technology companies. Stocks in the index are weighted such that each stock is no more than 8.5% of the market capitalization as of the most recent reconstitution date. The companies included in the index must be common stocks and traded on the American Stock Exchange, Nasdaq or the New York Stock Exchange and meet certain established market capitalization levels.

You cannot invest directly in an index.

Investment objective — Seeks long-term capital appreciation.

Average Annual Total Returns(2,3) (as of 4/30/09)

	Inception		1			5			Since
	Date		Year			Year			Inception
Global Technology A#		5/01/00		-33.66	%		-1.85	%		-9.55	%
Global Technology A##		5/01/00		-37.31	%		-2.96	%		-10.12	%
Global Technology B#		5/01/00		-34.08	%		-2.51	%	NA		*
Global Technology B##		5/01/00		-37.38	%		-2.91	%	NA		*
Global Technology C#		5/01/00		-34.32	%		-2.72	%		-10.29	%
Global Technology C##		5/01/00		-34.97	%		-2.72	%		-10.29	%
Global Technology Y#		5/01/00		-33.60	%		-1.58	%		-9.23	%

#	Without sales charge
##	With sales charge
NA	Not Applicable
*	10 year and inception returns are not applicable for Class B because after 8 years Class B converts to Class A.

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)	Growth of a $10,000 investment in Classes B, C and Y shares will vary from results seen above due to differences in the expenses charged to these share classes.
(2)	The initial investment in Class A shares reflects the maximum sales charge and Classes B and C reflect CDSC.
(3)	Total returns presented above were calculated using the Fund’s net asset value available to shareholders for sale or redemption of Fund shares on April 30, 2009, which excludes investment transactions as of this date.

The value of shares will fluctuate so that, when redeemed, shares may be worth more or less than their original cost. The chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.

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

Portfolio Managers

John F. Averill, CFA	Anita M. Killian, CFA	Nicolas B. Boullet
Senior Vice President, Partner	Senior Vice President, Partner	Assistant Vice President
Bruce L. Glazer	Scott E. Simpson*
Senior Vice President, Partner	Senior Vice President, Partner

How did the Fund perform?

The Class A shares of The Hartford Global Technology Fund returned 6.25%, before sales charge, for the six-month period ended April 30, 2009, underperforming its benchmark, the S&P North American Technology Sector Index, which returned 7.36% for the same period. The Fund also underperformed the 10.44% return of the average fund in the Lipper Global Science and Technology Funds peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

Broad U.S. equity markets fell during the period, but this overall decline masks two significantly different market environments. From the beginning of November through early March stocks fell sharply, reflecting deepening economic worries and concerns over the U.S. government’s increasing involvement in the economy. From early March through the end of April stocks rallied as investors came to believe that a Depression-like scenario was less likely. Technology stocks outperformed the broader U.S. market, which returned -8.5% during the period, as measured by the S&P 500 Index, and the world market return of -5.1%, as measured by the MSCI World Index. During the period the Fund was hurt by weak security selection in the Communications Equipment, IT Services, and Software industries. However, this was somewhat offset by an overweight (i.e. the Fund’s sector position was greater than the benchmark position) to

2

Semiconductors and Semiconductor Equipment and Diversified Consumer Services.

Research In Motion, Cisco Systems, and Accenture were top detractors from benchmark-relative (i.e. performance of the Fund as measured against the benchmark) performance during the period. Shares of Canada-based wireless telecommunications manufacturer and service provider Research In Motion fell after the company lowered its forecast for quarterly revenues and earnings due to currency headwinds and economic weakness in the U.S., but shares rose in early April as the company announced earnings estimates above analyst expectations. Computer hardware maker Cisco Systems’ stock weakened after the company missed its first quarter sales estimates and lowered its profit and sales forecasts for the year. Shares of consulting and technology services firm Accenture fell after the company lowered its outlook for 2009 amid a weak macroeconomic environment and slowing demand for its management consulting and outsourcing services. Software provider Microsoft and hardware maker Hewlett-Packard were among top detractors from absolute (i.e. total return) performance.

Apple, Western Digital, and ITT Educational Services were among the top contributors to benchmark-relative performance during the period. Shares of Apple rose after the consumer electronics company posted higher-than-expected profit and revenue for the second fiscal quarter. Disk drive manufacturer Western Digital exceeded earnings expectations as the firm cut costs and aligned production in response to slowing demand. Shares of ITT Educational Services, a technology-oriented post-secondary degree programs provider, rose as the company reported higher-than-expected earnings boosted by increasing enrollment and demand. Wireless telecommunications products and services company QUALCOMM and leading glass technology company Corning contributed to absolute performance.

What is the outlook?

Many of the Fund’s top holdings are high quality, larger cap names with healthy balance sheets. We believe that such names will have a greater chance of not only withstanding the economic downturn, but taking market share as weaker competitors flounder. Our top holdings are concentrated in the U.S. as Asia has become a difficult market and demand in emerging markets is rapidly declining.

At the end of the period the Fund was most overweight the IT Services and Communications Equipment industries and most underweight (i.e. the Fund’s sector position was less than the benchmark position) Internet Software & Services names relative to the S&P North American Technology Index.

At a meeting held on February 4, 2009, the Board of Directors of The Hartford Mutual Funds, Inc. approved the reorganizations (each, a “Reorganization”) of The Hartford Global Communications Fund, The Hartford Global Financial Services Fund and The Hartford Global Technology Fund (each, an “Acquired Fund”) with and into The Hartford Global Equity Fund (the “Acquiring Fund”).

The Board of Directors has called for a Special Meeting of Shareholders of each Acquired Fund (the “Meeting”) to be held on or about August 4, 2009, for the purpose of seeking the approval of an Agreement and Plan of Reorganization (“Reorganization Agreement”) by the shareholders of the respective Acquired Fund.

* It is anticipated that on June 30, 2009, Scott Simpson will withdraw as a partner of Wellington Management Company, LLP. Other members of the existing portfolio management team have taken over his responsibilities.

Diversification by Industry
as of April 30, 2009

	Percentage of
Industry	Net Assets
Application Software		1.1	%
Communications Equipment		24.2
Computer Hardware		20.3
Computer Storage & Peripherals		3.8
Data Processing & Outsourced Services		11.6
Electronic Manufacturing Services		1.2
Home Entertainment Software		2.7
Human Resource & Employment Services		0.6
Internet Software & Services		2.8
IT Consulting & Other Services		3.2
Semiconductor Equipment		1.2
Semiconductors		8.7
Systems Software		16.5
Short-Term Investments		0.5
Other Assets and Liabilities		1.6
Total		100.0	%

Diversification by Country
as of April 30, 2009

	Percentage of
Country	Net Assets
Canada		2.9	%
China		1.0
Japan		0.2
South Korea		2.3
Taiwan		2.6
United States		88.9
Short-Term Investments		0.5
Other Assets and Liabilities		1.6
Total		100.0	%

3

The Hartford Global Technology Fund

Schedule of Investments

(000’s Omitted)

Shares or Principal Amount					Market Value ╪
COMMON STOCKS - 97.9%
		Application Software - 1.1%
	13	Adobe Systems, Inc. •			$	364
		Communications Equipment -24.2%
	165	Cisco Systems, Inc. •				3,190
	97	Corning, Inc.				1,421
	77	Motorola, Inc.				423
	55	Qualcomm, Inc.				2,323
	14	Research In Motion Ltd. •				980
						8,337
		Computer Hardware -20.3%
	22	Apple, Inc. •				2,713
	47	Dell, Inc. •				547
	73	Hewlett-Packard Co.				2,609
	35	High Technology Computer Corp.				477
	6	International Business Machines Corp.				630
						6,976
		Computer Storage & Peripherals -3.8%
	14	NetApp, Inc. •				258
	61	Seagate Technology				495
	24	Western Digital Corp. •				566
						1,319
		Data Processing & Outsourced Services -11.6%
	18	Alliance Data Systems Corp. •				744
	18	Automatic Data Processing, Inc.				619
	4	DST Systems, Inc. •				162
	—	Mastercard, Inc.				68
	12	Visa, Inc.				767
	97	Western Union Co.				1,625
						3,985
		Electronic Manufacturing Services -1.2%
	147	Hon Hai Precision Industry Co., Ltd.				425
		Home Entertainment Software -2.7%
	25	Electronic Arts, Inc. •				505
	—	Nintendo Co., Ltd.				80
	7	Shanda Interactive Entertainment Ltd. ADR •				349
						934
		Human Resource & Employment Services -0.6%
	5	Manpower, Inc.				220
		Internet Software & Services - 2.8%
	8	Equinix, Inc. •				544
	1	Google, Inc. •				418
						962
		IT Consulting & Other Services - 3.2%
	37	Accenture Ltd. Class A				1,095
		Semiconductor Equipment -1.2%
	14	Lam Research Corp. •				399
		Semiconductors -8.7%
	15	Atheros Communications, Inc. •				251
	39	Marvell Technology Group Ltd. •				431
	44	Maxim Integrated Products, Inc.				592
	91	ON Semiconductor Corp. •				492
	2	Samsung Electronics Co., Ltd.				787
	25	Texas Instruments, Inc.				457
						3,010
		Systems Software - 16.5%
	8	BMC Software, Inc. •				260
	121	Microsoft Corp.				2,441
	106	Oracle Corp. •				2,044
	19	Red Hat, Inc. •				320
	36	Symantec Corp. •				616
						5,681
		Total common stocks (cost $31,579)			$	33,707
		Total long-term investments (cost $31,579)			$	33,707
SHORT-TERM INVESTMENTS - 0.5%
		Repurchase Agreements -0.5%
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $41, collateralized by GNMA 4.50% - 6.50%, 2038 - 2039, value of $42)
$	41	0.18%, 04/30/2009			$	41
		BNP Paribas Securities Corp. TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $49, collateralized by FHLMC 4.50% - 6.50%, 2035 - 2039, FNMA 4.50% - 6.50%, 2034 - 2047, value of $50)
	49	0.17%, 04/30/2009				49
		Deutsche Bank Securities TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $68, collateralized by FHLMC 4.00% - 7.00%, 2021 - 2039, FNMA 6.00% - 7.00%, 2034 - 2038, GNMA 4.50% - 7.00%, 2024 - 2039, value of $70)
	68	0.17%, 04/30/2009				68
		UBS Securities, Inc. Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $-, collateralized by U.S. Treasury Bond 7.50%, 2024, value of $-)
	—	0.14%, 04/30/2009				—
		UBS Securities, Inc. TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $15, collateralized by FHLMC 8.00% - 15.00%, 2009 - 2021, FNMA 3.50% - 15.50%, 2012 - 2039, value of $15)
	15	0.16%, 04/30/2009				15
						173
		Total short-term investments (cost $173)			$	173
		Total investments (cost $31,752) ▲	98.4	%	$	33,880
		Other assets and liabilities	1.6	%		565
		Total net assets	100.0	%	$	34,445

Note: Percentage of investments as shown is the ratio of the total market value to total net assets. Market value of investments in foreign securities represents 9.00% of total net assets at April 30, 2009.

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

4

Foreign securities that are principally traded on certain foreign markets are adjusted daily pursuant to a third party pricing service methodology approved by the Board of Directors in order to reflect an adjustment for factors occurring after the close of the foreign market but before the close of the New York Stock Exchange.

▲ At April 30, 2009, the cost of securities for federal income tax purposes was $33,738 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	3,421
Unrealized Depreciation		(3,279	)
Net Unrealized Appreciation	$	142

•	Currently non-income producing.
╪	See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of securities.

Diversification by Country
as of April 30, 2009

	Percentage of
Country	Net Assets
Canada		2.9	%
China		1.0
Japan		0.2
South Korea		2.3
Taiwan		2.6
United States		88.9
Short-Term Investments		0.5
Other Assets and Liabilities		1.6
Total		100.0	%

FAS 157 Disclosure of Investment Valuation Hierarchy Levels

Assets:
Investment in securities — Level 1	$	31,937
Investment in securities — Level 2		1,943
Total	$	33,880

5

The Hartford Global Technology Fund

Statement of Assets and Liabilities
April 30, 2009 (Unaudited)
(000’s Omitted)

Assets:
Investments in securities, at fair value (cost $31,752)	$	33,880
Cash		—
Foreign currency on deposit with custodian (cost $112)		112
Receivables:
Investment securities sold		674
Fund shares sold		131
Dividends and interest		11
Other assets		93
Total assets		34,901
Liabilities:
Payables:
Investment securities purchased		328
Fund shares redeemed		89
Investment management fees		5
Distribution fees		3
Accrued expenses		31
Total liabilities		456
Net assets	$	34,445
Summary of Net Assets:
Capital stock and paid-in-capital		94,804
Accumulated distribution in excess of net investment income		(31	)
Accumulated net realized loss on investments and foreign currency transactions		(62,456	)
Unrealized appreciation of investments and the translation of assets and liabilities denominated in foreign currency		2,128
Net assets	$	34,445
Shares authorized		300,000
Par value	$	0.001
Class A: Net asset value per share/Maximum offering price per share	$	4.08/$4.31
Shares outstanding		5,129
Net assets	$	20,918
Class B: Net asset value per share	$	3.83
Shares outstanding		1,247
Net assets	$	4,777
Class C: Net asset value per share	$	3.79
Shares outstanding		1,935
Net assets	$	7,339
Class Y: Net asset value per share	$	4.21
Shares outstanding		335
Net assets	$	1,411

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

6

The Hartford Global Technology Fund

Statement of Operations
For the Six Month Period Ended April 30, 2009 (Unaudited)
(000’s Omitted)

Investment Income:
Dividends	$	171
Interest		1
Securities lending		—
Less: Foreign tax withheld		(5	)
Total investment income		167
Expenses:
Investment management fees		139
Transfer agent fees		134
Distribution fees
Class A		24
Class B		23
Class C		33
Custodian fees		8
Accounting services		2
Registration and filing fees		25
Board of Directors’ fees		1
Audit fees		3
Other expenses		11
Total expenses (before waivers and fees paid indirectly)		403
Expense waivers		(114	)
Transfer agent fee waivers		(90	)
Commission recapture		(1	)
Custodian fee offset		—
Total waivers and fees paid indirectly		(205	)
Total expenses, net		198
Net investment loss		(31	)
Net Realized Loss on Investments and Foreign Currency Transactions:
Net realized loss on investments in securities		(15,504	)
Net realized gain on foreign currency transactions		2
Net Realized Loss on Investments and Foreign Currency Transactions		(15,502	)
Net Changes in Unrealized Appreciation of Investments:
Net unrealized appreciation of investments		17,396
Net unrealized appreciation on translation of other assets and liabilities in foreign currencies		—
Net Changes in Unrealized Appreciation of Investments		17,396
Net Gain on Investments and Foreign Currency Transactions		1,894
Net Increase in Net Assets Resulting from Operations	$	1,863

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

7

The Hartford Global Technology Fund

Statement of Changes in Net Assets

(000’s Omitted)

	For the Six-
	Month
	Period Ended			For the
	April 30, 2009			Year Ended
	(Unaudited)			October 31, 2008
Operations:
Net investment loss	$	(31	)	$	(496	)
Net realized loss on investments and foreign currency transactions		(15,502	)		(6,581	)
Net unrealized appreciation (depreciation) of investments		17,396			(27,536	)
Net increase (decrease) in net assets resulting from operations		1,863			(34,613	)
Capital Share Transactions:
Class A		(1,626	)		(4,831	)
Class B		(955	)		(3,074	)
Class C		(524	)		(838	)
Class Y		306			(752	)
Net decrease from capital share transactions		(2,799	)		(9,495	)
Net decrease in net assets		(936	)		(44,108	)
Net Assets:
Beginning of period		35,381			79,489
End of period	$	34,445		$	35,381
Accumulated distribution in excess of net investment loss	$	(31	)	$	—

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

8

The Hartford Global Technology Fund

Notes to Financial Statements
April 30, 2009 (Unaudited)
(000’s Omitted)

1.	Organization:
	The Hartford Mutual Funds, Inc. (“Company”) is an open-end management investment company comprised of fifty-two portfolios. Financial statements for The Hartford Global Technology Fund (the “Fund”), a series of the Company, are included in this report.
	The Company is organized under the laws of the State of Maryland and is registered with the Securities and Exchange Commission (“SEC”) under the Investment Company Act of 1940, as amended (“1940 Act”). The Fund is a non-diversified open-end management investment company.
	Class A shares are sold with a front-end sales charge of up to 5.50%. Class B shares are sold with a contingent deferred sales charge which is assessed on the lesser of the per share net asset value (“NAV”) of the shares at the time of redemption or the original purchase price, and declines from up to 5.00% to zero depending on the period of time the shares are held. Class C shares are sold with a contingent deferred sales charge of up to 1.00% on shares redeemed within twelve months of purchase. Class Y shares, which are sold to certain eligible institutional investors, are sold without a sales charge. All classes of shares have identical voting, redemption, dividend, liquidation and other rights and the same terms and conditions, with the exceptions that each class may have different expenses, which may affect performance, and except that Class B shares automatically convert to Class A shares after 8 years.
	Effective at the close of business on September 30, 2009 (the “Close Date”), no new or additional investments will be allowed in Class B shares of The Hartford Mutual Funds (including investments through any systematic investment plan). After the Close Date, existing shareholders of Class B shares may continue to hold their Class B shares, exchange their Class B shares for Class B shares of another Hartford Mutual Fund (as permitted by existing exchange privileges), and redeem their Class B shares as described in the Fund’s prospectus. Reinstatement privileges with respect to Class B shares will continue under the current policy. If you have chosen to reinvest capital gains and dividends, any such capital gains or dividends on Class B shares will continue to be reinvested in Class B shares of the Fund. For Class B shares outstanding as of the Close Date, all Class B share attributes, including the 12b-1 fee, contingent deferred sales charge schedule, and conversion to Class A shares remain unchanged.
2.	Significant Accounting Policies:
	The following is a summary of significant accounting policies of the Fund, which are in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”).

a)	Security Transactions and Investment Income - Security transactions are recorded on the trade date (the date the order to buy or sell is executed). Security gains and losses are determined on the basis of identified cost.
	Dividend income is accrued as of the ex-dividend date, except that certain dividends for foreign securities where the ex-dividend date may have passed are recorded as soon as the Fund is informed of the dividend in the exercise of reasonable diligence. Interest income, including amortization of premium and accretion of discounts, is accrued on a daily basis.
b)	Security Valuation - The Fund generally uses market prices in valuing portfolio securities. If market prices are not readily available or are deemed unreliable, the Fund will use the fair value of the security as determined in good faith under policies and procedures established by and under the supervision of the Fund’s Board of Directors. Market prices may be deemed unreliable, for example, if a security is thinly traded or if an event has occurred after the close of the security’s primary markets, but before the close of the New York Stock Exchange (the “Exchange”) (normally 4:00 p.m. Eastern Time, referred to as the “Valuation Time”) that is expected to affect the value of the portfolio security. The circumstances in which the Fund may use fair value pricing include, among others: (i) the occurrence of events that are significant to a particular issuer, such as mergers, restructuring or defaults; (ii) the occurrence of events that are significant to an entire market, such as natural disasters in a particular region or governmental actions; (iii) trading restrictions on securities; (iv) thinly traded securities and (v) market events such as trading halts and early market closings. In addition, with respect to the valuation of stocks primarily traded on foreign markets, the Fund uses a fair value pricing service approved by the Fund’s Board of Directors, which employs quantitative models that evaluate

9

The Hartford Global Technology Fund

Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

	changes in the value of foreign market proxies (e.g., futures contracts, ADR’s, exchange traded funds (“ETF’s”)) after the close of the foreign markets but before the close of the Exchange. Securities that are primarily traded on foreign markets may trade on days that are not business days of the Fund. The value of the foreign securities in which the Fund invests may change on days when a shareholder will not be able to purchase or redeem shares of the Fund. Fair value pricing is subjective in nature and the use of fair value pricing by the Fund may cause the NAV of its shares to differ significantly from the NAV that would have been calculated using market prices at the close of the exchange on which a portfolio security is primarily traded but before the close of the Exchange. There can be no assurance that the Fund could obtain the fair value assigned to a security if the Fund were to sell the security at approximately the time at which the Fund determines its NAV.
	Securities of foreign issuers and non-dollar securities are translated from the local currency into U.S. dollars using prevailing exchange rates. Financial instruments for which prices are not available from an independent pricing service are valued using market quotations obtained from one or more dealers that make markets in securities in accordance with procedures established by the Fund’s Board of Directors.
	A forward currency contract shall be valued based on the price of the underlying currency at the prevailing interpolated exchange rate, which is a combination of the spot currency rate and the forward currency rate. Spot currency rates and forward currency rates are obtained from an independent pricing service on a daily basis not more than one hour before the Valuation Time.
	Other derivative or contractual type instruments shall be valued using market prices if such instruments trade on an exchange or market. If such instruments do not trade on an exchange or market, such instruments shall be valued at a price at which the counterparty to such contract would repurchase the instrument. In the event that the counterparty cannot provide a price, such valuation may be determined in accordance with procedures established by the Fund’s Board of Directors.
c)	Foreign Currency Transactions - The accounting records of the Fund are maintained in U.S. dollars. All assets and liabilities initially expressed in foreign currencies are converted into U.S. dollars at the prevailing exchange rates. Purchases and sales of investment securities, dividend and interest income and certain expenses are translated at the rates of exchange prevailing on the respective dates of such transactions.
	The Fund does not isolate that portion of portfolio security valuation resulting from fluctuations in the foreign currency exchange rates on portfolio securities from the fluctuations arising from changes in the market prices of securities held. Such fluctuations are included with the net realized and unrealized gain or loss on investments in the accompanying financial statements. Net realized foreign exchange gains or losses arise from sales of foreign currencies and the difference between asset and liability amounts initially stated in foreign currencies and the U.S. dollar value of the amounts actually received or paid. Net unrealized foreign exchange gains or losses arise from changes in the value of other assets and liabilities at the end of the reporting period, resulting from changes in the exchange rates.
d)	Joint Trading Account - Pursuant to an exemptive order issued by the SEC, the Fund may transfer uninvested cash balances into a joint trading account managed by Wellington Management Company, LLP (“Wellington”). These balances may be invested in one or more repurchase agreements and/or short-term money market instruments.
e)	Repurchase Agreements - A repurchase agreement is an agreement by which the seller of a security agrees to repurchase the security sold at a mutually agreed upon time and price. At the time the Fund enters into a repurchase agreement, the value of the underlying collateral security(ies), including accrued interest, will be equal to or exceed the value of the repurchase agreement. Securities that serve to collateralize the repurchase agreement are held by the Fund’s custodian in

10

	book entry or physical form in the custodial account of the Fund or in a third party custodial account. Repurchase agreements are valued at cost plus accrued interest. The Fund, as shown on the Schedule of Investments, had outstanding repurchase agreements as of April 30, 2009.
f)	Forward Foreign Currency Contracts - The Fund may enter into forward foreign currency contracts that obligate the Fund to repurchase/replace or sell currencies at specified future dates. Forward foreign currency contracts may be used to hedge against adverse fluctuations in exchange rates between currencies.
	Forward foreign currency contracts involve elements of market risk in excess of the amount reflected in the Statement of Assets and Liabilities. In addition, risks may arise upon entering into these contracts from the potential inability of the counterparties to meet the terms of the contracts and from unanticipated movements in the value of the foreign currencies relative to the U.S. dollar.
g)	Fund Share Valuation and Dividend Distributions to Shareholders — Orders for the Fund’s shares are executed in accordance with the investment instructions of the shareholders. The NAV of the Fund’s shares is determined as of the close of each business day of the Exchange. The NAV is determined separately for each class of the Fund by dividing the Fund’s net assets attributable to that class by the number of shares of the class outstanding. Orders for the purchase of the Fund’s shares prior to the close of the Exchange on any day on which the Exchange is open for business are priced at the NAV determined as of the close of the Exchange. Orders after the close of the Exchange, or on a day on which the Exchange and/or the Fund is not open for business, are priced at the next determined NAV.
	The Fund intends to distribute substantially all of its net investment income and net realized capital gains to shareholders no less frequently than once a year. Normally, dividends from net investment income are declared and paid annually. Dividends are paid on shares beginning on the business day after the day when the funds used to purchase the shares are collected by the transfer agent for the Fund. Unless shareholders specify otherwise, all dividends will be automatically reinvested in additional full or fractional shares of the Fund.
	Distributions from net investment income, realized capital gains and capital are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP with respect to character and timing. These differences include but are not limited to foreign currency gains and losses, losses deferred due to wash sales adjustments, adjustments related to Passive Foreign Investment Companies and certain derivatives, and excise tax regulations. Permanent book and federal income tax basis differences relating to shareholder distributions will result in reclassifications to certain of the Fund’s capital accounts (see Federal Income Taxes: Reclassification of Capital Accounts footnote).
h)	Use of Estimates — The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and the reported amounts of income and expenses during the period. Operating results in the future could vary from the amounts derived from management’s estimates.
i)	Financial Accounting Standards Board Financial Accounting Standards No. 157 - Effective November 1, 2008, the Fund adopted Financial Accounting Standards Board (“FASB”) Statement of Financial Accounting Standards No. 157, “Fair Value Measurements” (“FAS 157”). This standard clarifies the definition of fair value for financial reporting, establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements. Fair value is defined under FAS 157 as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Under FAS 157, a fair value measurement should reflect all of the assumptions that market participants would use in pricing the asset or liability, including assumptions about the risk inherent in a particular valuation technique, the effect of a restriction on the sale or use of an asset, and the risk of nonperformance.

11

The Hartford Global Technology Fund

Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

Various inputs are used in determining the value of the Fund’s investment. These inputs are summarized, per FAS 157, into three broad hierarchy levels. This hierarchy is based on whether the valuation inputs are observable or unobservable. These levels are:

• Level 1 — Quoted prices in active markets for identical securities. Level 1 includes exchange-traded instruments such as domestic equities, some foreign equities, options, futures, mutual funds, ETF’s, and rights and warrants.

• Level 2 — Observable inputs other than Level 1 prices, such as quoted prices for similar securities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the security. Level 2 includes debt securities that are traded less frequently than exchange-traded instruments and that are valued using third party pricing services and foreign equities, whose value is determined using a multi-factor regression model with inputs that are observable in the market; and money market instruments, which are carried at amortized cost.

• Level 3 — Significant unobservable inputs that are supported by little or no market activity. Level 3 includes financial instruments whose values are determined using broker quotes and require significant management judgment or estimation. This category includes broker quoted securities, long dated OTC options and securities where trading has been halted or there are certain restrictions on trading. While these securities are priced using unobservable inputs, the valuation of these securities reflects the best available data and management believes the prices are a good representation of exit price.

	Individual securities within any of the above mentioned asset classes may be assigned a different hierarchical level than those presented above, as individual circumstances dictate.
	FAS 157 also requires that a roll forward reconciliation be shown for all Level 3 securities from the beginning of the reporting period to the end of the reporting period. Part of this reconciliation includes transfers in and/or out of Level 3. For purposes of this reconciliation, transfers in are shown at the end of period fair value and transfers out are shown at the beginning of period fair value. During the six-month period ended April 30, 2009, the Fund held no Level 3 securities.
	Refer to the valuation hierarchy levels summary found following the Schedule of Investments.
	FASB Staff Position No. 157-4 - In April 2009, FASB released FASB Staff Position No. 157-4, “Determining Fair Value When the Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly” (“FSP FAS 157-4”). FSP FAS 157-4 provides additional guidance on determining whether a market for a financial asset is not active and a transaction is not distressed when measuring fair value under FAS 157. The FSP also requires additional disclosure detail on debt and equity securities by major investment categories. FSP FAS 157-4 is effective for interim and annual periods ending after June 15, 2009. At this time, management is evaluating the implications of FSP FAS 157-4 and does not believe it will impact valuation but will require additional disclosure. This additional disclosure has not yet been implemented.
j)	Financial Accounting Standards Board Financial Accounting Standards No. 161 - In March 2008, the FASB released Statement of Financial Accounting Standards No. 161, “Disclosures about Derivative Instruments and Hedging Activities” (“FAS 161”). FAS 161 requires companies to disclose information detailing the objectives and strategies for using derivative instruments, the level of derivative activity entered into by the company and any credit risk-related contingent features of the agreements. The application of FAS 161 is required for fiscal years and interim periods beginning after November 15, 2008. At this time, management is evaluating the implications of FAS 161 and has not yet implemented the new disclosure standard.
k)	Indemnifications: Under the Company’s organizational documents, the Company shall indemnify its officers and directors to the full extent required or permitted under Maryland General Corporation Law and the federal securities law. In addition, the Company, on behalf of the Fund, may enter into contracts that contain a variety of indemnifications. The Company’s maximum exposure under these arrangements is unknown. However, the Company has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote.

12

3. Federal Income Taxes:

a)

Federal Income Taxes - For federal income tax purposes, the Fund intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code (“IRC”) by distributing substantially all of its taxable net investment income and net realized capital gains to its shareholders and otherwise complying with the requirements of regulated investment companies. The Fund has distributed substantially all of its income and capital gains in prior years and the Fund intends to distribute substantially all of its income and gains during the calendar year ending December 31, 2009. Accordingly, no provision for federal income or excise taxes has been made in the accompanying financial statements. Distributions from short-term capital gains are treated as ordinary income distributions for federal income tax purposes.

b)

As of October 31, 2008, the Fund’s components of distributable earnings (deficit) on a tax basis were as follows:

	Amount
Accumulated Capital Losses*	$	(44,968	)
Unrealized Depreciation†	$	(17,254	)
Total Accumulated Deficit	$	(62,222	)

*	The Fund has capital loss carryforwards that are identified in the Capital Loss Carryforward note that follows.
†	The differences between book-basis and tax-basis unrealized appreciation (depreciation) are attributable to the tax deferral of wash sales losses, the mark-to-market adjustment for certain derivatives in accordance with IRC Sec. 1256, the mark to market for Passive Foreign Investment Companies and basis differences in real estate investment trusts.

c)

Reclassification of Capital Accounts - In accordance with American Institute of Certified Public Accountants (AICPA) Statement of Position 93-2, Determination, Disclosure, and Financial Statement Presentation of Income, Capital Gain, and Return of Capital Distributions by Investment Companies, the Fund has recorded reclassifications in its capital accounts. These reclassifications had no impact on the NAV of the Fund. The reclassifications are a result of permanent differences between GAAP and tax accounting for such items as net operating losses that reduce distribution requirements. Adjustments are made to reflect the impact these items have on current and future distributions to shareholders. Therefore, the source of the Fund’s distributions may be shown in the accompanying Statement of Changes in Net Assets as from net investment income, from net realized gains on investments or from capital depending on the type of book and tax differences that exist. As of October 31, 2008, the Fund recorded reclassifications to increase undistributed net investment income by $496, increase accumulated net realized gain by $13, and decrease paid in capital by $509.

d)

Capital Loss Carryforward - At October 31, 2008 (tax-year-end), the Fund had capital loss carryforwards for U.S. federal income tax purposes of approximately:

Year	Amount
2009	$	5,132
2010		34,893
2016		4,943
Total	$	44,968

e) Financial Accounting Standards Board Interpretation No. 48 - On July 13, 2006, the FASB released FASB Interpretation No. 48 “Accounting for Uncertainty in Income Taxes” (“FIN 48”). FIN 48 provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. The Fund adopted FIN 48 for fiscal years beginning after December 15, 2006. Management has evaluated the implications of FIN

13

The Hartford Global Technology Fund

Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

48 for all open tax years (tax years ended October 31, 2006 – 2008) and has determined there is no impact to the Fund’s financial statements.

4. Expenses:

a)

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

The schedule below reflects the rates of compensation paid to HIFSCO for investment management services rendered during the six-month period ended April 30, 2009; the rates are accrued daily and paid monthly:

Average Daily Net Assets	Annual Fee
On first $500 million		0.9000	%
On next $500 million		0.8500	%
On next $4 billion		0.8000	%
On next $5 billion		0.7975	%
Over $10 billion		0.7950	%

b) Accounting Services Agreement — Pursuant to the Fund Accounting Agreement between Hartford Life Insurance Company (“HLIC”) and the Fund, HLIC provides accounting services to the Fund and receives monthly compensation on the Fund’s average net assets. The Fund’s accounting service fees are accrued daily and paid monthly.

Average Daily Net Assets	Annual Fee
On first $5 billion		0.012	%
Over $5 billion		0.010	%

c) Operating Expenses - Allocable expenses incurred by the Company are allocated to each Fund and allocated to classes within the Fund in proportion to the average daily net assets of the Fund and each class, except where allocation of certain expenses is more fairly made directly to the Fund or to specific classes within a Fund. During the six-month period ended April 30, 2009, HIFSCO has contractually limited the total operating expenses of this Fund, exclusive of taxes, interest expense, brokerage commissions, certain distribution expenses and extraordinary expenses as follows:

Class A	Class B	Class C	Class Y
1.60%	2.35%	2.35%	1.20%

14

d)

Fees Paid Indirectly - The Fund has entered into agreements with State Street Global Markets, LLC and Russell Implementation Services Inc. to partially recapture non-discounted trade commissions. Such rebates are used to pay a portion of the Fund’s expenses. In addition, the Fund’s custodian bank has also agreed to reduce its fees when the Fund maintains cash on deposit in the non-interest-bearing custody account. For the six-month period ended April 30, 2009, these amounts are included in the Statement of Operations.

The ratio of expenses to average net assets in the accompanying financial highlights excludes the reduction in expenses related to fees paid indirectly. Had the fees paid indirectly been included, the annualized expense ratio for the periods listed below would have been as follows:

	Annualized
	Six-Month
	Period			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended
	Ended April			October 31,			October 31,			October 31,			October 31,			October 31,
	30, 2009			2008			2007			2006			2005			2004
Class A Shares		0.98	%		1.39	%		1.43	%		1.32	%		1.53	%		1.60	%
Class B Shares		1.50			1.95			2.03			1.96			2.28			2.30
Class C Shares		1.99			2.27			2.30			2.21			2.28			2.30
Class Y Shares		1.20			1.08			1.08			1.17			1.13			1.09

e)	Distribution and Service Plan for Class A, B and C Shares - HIFSCO is the principal underwriter and distributor of the Fund. HIFSCO is engaged in distribution activities, which include marketing and distribution of shares through broker-dealers, financing distribution costs and maintaining financial books and records. For the six-month period ended April 30, 2009, HIFSCO received front-end load sales charges of $23 and contingent deferred sales charges of $6 from the Fund.
	The Fund has adopted Distribution and Service Plans in accordance with Rule 12b-1 of the Investment Company Act of 1940, as amended, to compensate the distributor (HIFSCO) for activities intended to result in the sale and distribution of Classes A, B and C shares and for providing services for shareholders. The Rule 12b-1 plan applicable to Class A shares of the Funds provides for payment of a Rule 12b-1 fee of up to 0.35% of average daily net assets; however, the Board of Directors has currently authorized 12b-1 payments of only up to 0.25%. Some or all of the fee may be used for shareholder servicing expenses with the remainder used for distribution expenses. Some or the entire Rule 12b-1 fee for Class B shares may be remitted to broker-dealers for distribution and/or shareholder account services. Under the Class B Plan, the Fund pays the distributor 1.00% of the average daily net assets of Class B shares that are outstanding for 8 years or less, 0.25% of which is a fee for services provided to existing shareholders with the remainder used for distribution expenses. After eight years, Class B shares convert to Class A shares. Upon conversion to Class A shares, the Class A plan described above will apply to those shares. Under the Class C Plan, the Fund pays the Distributor 1.00% of the average daily net assets of Class C shares outstanding, 0.25% of which is intended as a fee for services provided to existing shareholders with the remainder used for distribution expenses. For Class C shares, some or the entire fee may be remitted to broker-dealers for distribution and/or shareholder account services. The Fund’s 12b-1 fees are accrued daily and paid monthly. For the six-month period ended April 30, 2009, total sales commissions paid to affiliated brokers/dealers of The Hartford for distributing the Fund’s shares were $2. These commissions are in turn paid to sales representatives of the broker/dealers.
f)	Other Related Party Transactions - Certain officers of the Fund are directors and/or officers of HIFSCO and/or The Hartford or its subsidiaries. For the six-month period ended April 30, 2009, a portion of the Fund’s chief compliance officer’s salary was paid by the Fund in an amount, which rounds to zero. Hartford Administrative Services Company (“HASCO”), an indirect wholly owned subsidiary of The Hartford, provides transfer agent services to the Fund. HASCO was compensated $71 for providing such services. These fees are accrued daily and paid monthly.

15

The Hartford Global Technology Fund

Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

g)	Payments from Affiliate:
	The total return in the accompanying financial highlights includes payment from affiliates. Had the payment from affiliates been excluded, the total return for the periods listed below would have been as follows:

	Impact from			Total Return
	Payment from			Excluding
	Affiliate for SEC			Payment from
	Settlement for the			Affiliate for the
	Year Ended			Year Ended
	October 31, 2007			October 31, 2007
Class A		0.04	%		27.46	%
Class B		0.04			26.57
Class C		0.04			26.25
Class Y		0.04			27.96

5. Investment Transactions:

For the six-month period ended April 30, 2009, the Fund’s aggregate purchases and sales of investment securities (excluding short-term investments) were as follows:

	Amount
Cost of Purchases Excluding U.S. Government Obligations	$	56,999
Sales Proceeds Excluding U.S. Government Obligations		59,647

6. Capital Share Transactions:

The following information is for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	For the Six-Month Period Ended April 30, 2009												For the Year Ended October 31, 2008
			Shares					Shares							Shares					Shares
			Issued for					Issued		Net Increase					Issued for					Issued		Net Increase
	Shares		Reinvested		Shares			from		(Decrease) of			Shares		Reinvested		Shares			from		(Decrease) of
	Sold		Dividends		Redeemed			Merger		Shares			Sold		Dividends		Redeemed			Merger		Shares
Class A
Shares		3,235		—		(3,635	)		—		(400	)		1,924		—		(2,860	)		—		(936	)
Amount	$	11,783	$	—	$	(13,409	)	$	—	$	(1,626	)	$	11,500	$	—	$	(16,331	)	$	—	$	(4,831	)
Class B
Shares		79		—		(380	)		—		(301	)		177		—		(753	)		—		(576	)
Amount	$	268	$	—	$	(1,223	)	$	—	$	(955	)	$	984	$	—	$	(4,058	)	$	—	$	(3,074	)
Class C
Shares		176		—		(339	)		—		(163	)		234		—		(402	)		—		(168	)
Amount	$	598	$	—	$	(1,122	)	$	—	$	(524	)	$	1,308	$	—	$	(2,146	)	$	—	$	(838	)
Class Y
Shares		166		—		(82	)		—		84			120		—		(233	)		—		(113	)
Amount	$	618	$	—	$	(312	)	$	—	$	306		$	694	$	—	$	(1,446	)	$	—	$	(752	)

The following reflects the conversion of Class B Shares into Class A Shares (reflected as Class A Shares issued and Class B shares redeemed) for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	Shares		Dollars
For the Six-Month Period Ended April 30, 2009		154	$	529
For the Year Ended October 31, 2008		229	$	1,331

16

7. Line of Credit:

The Fund is one of several Hartford Funds that participate in a $500 million committed revolving line of credit facility. The facility is to be used for temporary or emergency purposes. Under the arrangement, the Fund is required to own securities having a market value in excess of 300% of the total bank borrowings. The interest rate on borrowings varies depending on the nature of the loan. The facility also requires a fee to be paid based on the amount of the commitment. During the six-month period ended April 30, 2009, the Fund did not have any borrowings under this facility.

8. Proposed Reorganization:

At a meeting held on February 4, 2009, the Board of Directors of The Hartford Mutual Funds, Inc. approved the reorganizations (each, a “Reorganization”) of The Hartford Global Communications Fund, The Hartford Global Financial Services Fund and The Hartford Global Technology Fund (each, an “Acquired Fund”) with and into The Hartford Global Equity Fund (the “Acquiring Fund”).

In connection with the mergers, effective as of the close of business on or about April 30, 2009, all shares of The Hartford Global Communications Fund, The Hartford Global Financial Services Fund and The Hartford Global Technology Fund will no longer be sold to new investors or existing shareholders (except through reinvested dividends) or be eligible for exchanges from other Hartford Mutual Funds.

The Board of Directors has called for a Special Meeting of Shareholders of each Acquired Fund (the “Meeting”) to be held on or about August 4, 2009, for the purpose of seeking the approval of an Agreement and Plan of Reorganization (“Reorganization Agreement”) with respect to each Acquired Fund. If approved, each Reorganization is expected to occur on or about August 28, 2009.

If each Reorganization Agreement is approved by the shareholders of the respective Acquired Fund, the Reorganization Agreement contemplates: (1) the transfer of all of the assets of the Acquired Fund with and into the Acquiring Fund in exchange for shares of the Acquiring Fund having equal net asset value of the Acquired Fund; (2) the assumption by the Acquiring Fund of all of the liabilities of each Acquired Fund; and (3) the distribution of shares of the Acquiring Fund to the shareholders of the Acquired Fund in complete liquidation of the Acquired Fund. Each shareholder of an Acquired Fund would receive shares of the Acquiring Fund equal in value to the shares of the Acquired Fund held by that shareholder as of the closing date of the respective Reorganization.

9. Industry Classifications:

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

17

The Hartford Global Technology Fund

Financial Highlights — (Unaudited)

	— Selected Per-Share Data — (a)																													— Ratios and Supplemental Data —
																																Ratio of			Ratio of			Ratio of
																																Expenses			Expenses			Expenses
																																to Average			to Average			to Average
																																Net Assets			Net Assets			Net Assets
																																Before			After			After
								Net																								Waivers			Waivers			Waivers
								Realized																								and			and			and			Ratio of
								and Un-								Distrib-						Net										Reimburse-			Reimburse-			Reimburse-			Net
			Net			Pay-		realized						Dividends		utions						Increase			Net							ments and			ments and			ments and			Invest-			Port-
	Net Asset		Invest-			ments		Gain						from Net		from		Distri-				(Decrease)			Asset					Net Assets		Including			Including			Excluding			ment			folio
	Value at		ment			from		(Loss) on			Total from			Invest-		Realized		butions		Total		in Net			Value at					at End of		Expenses			Expenses			Expenses			Income to			Turn-
	Beginning		Income			(to)		Invest-			Investment			ment		Capital		from		Distri-		Asset			End of		Total			Period		not Subject			not Subject			not Subject			Average			over
Class	of Period		(Loss)			Affiliate		ments			Operations			Income		Gains		Capital		butions		Value			Period		Return(b)			(000’s)		to Cap(c)			to Cap(c)			to Cap(c)			Net Assets			Rate(d)
For the Six-Month Period Ended April 30, 2009 (Unaudited)
A	$	3.84	$	—		$	—	$	0.24		$	0.24		$	—	$	—	$	—	$	—	$	0.24		$	4.08		6.25	%(e)	$	20,918		2.38	%(f)		0.98	%(f)		0.98	%(f)		0.10	%(f)		184	%
B		3.62		(0.01	)		—		0.22			0.21			—		—		—		—		0.21			3.83		5.80	(e)		4,777		3.37	(f)		1.50	(f)		1.50	(f)		(0.40	) (f)		—
C		3.59		(0.02	)		—		0.22			0.20			—		—		—		—		0.20			3.79		5.57	(e)		7,339		2.88	(f)		1.99	(f)		1.99	(f)		(0.91	) (f)		—
Y		3.97		—			—		0.24			0.24			—		—		—		—		0.24			4.21		6.05	(e)		1,411		1.22	(f)		1.20	(f)		1.20	(f)		(0.18	) (f)		—
For the Year Ended October 31, 2008
A		7.23		(0.04	)		—		(3.35	)		(3.39	)		—		—		—		—		(3.39	)		3.84		(46.89	)		21,246		1.84			1.40			1.40			(0.56	)		160
B		6.85		(0.08	)		—		(3.15	)		(3.23	)		—		—		—		—		(3.23	)		3.62		(47.15	)		5,603		2.78			1.96			1.96			(1.13	)		—
C		6.82		(0.08	)		—		(3.15	)		(3.23	)		—		—		—		—		(3.23	)		3.59		(47.36	)		7,537		2.46			2.27			2.27			(1.44	)		—
Y		7.45		(0.02	)		—		(3.46	)		(3.48	)		—		—		—		—		(3.48	)		3.97		(46.71	)		995		1.08			1.08			1.08			(0.26	)		—
For the Year Ended October 31, 2007
A		5.67		(0.05	)		—		1.61			1.56			—		—		—		—		1.56			7.23		27.51	(g)		46,765		1.84			1.44			1.44			(0.87	)		146
B		5.41		(0.09	)		—		1.53			1.44			—		—		—		—		1.44			6.85		26.62	(g)		14,552		2.74			2.05			2.05			(1.47	)		—
C		5.40		(0.10	)		—		1.52			1.42			—		—		—		—		1.42			6.82		26.30	(g)		15,462		2.47			2.31			2.31			(1.75	)		—
Y		5.82		(0.03	)		—		1.66			1.63			—		—		—		—		1.63			7.45		28.01	(g)		2,710		1.10			1.10			1.10			(0.53	)		—
For the Year Ended October 31, 2006
A		4.97		(0.04	)		—		0.74			0.70			—		—		—		—		0.70			5.67		14.08			33,424		2.10			1.36			1.36			(0.78	)		144
B		4.77		(0.08	)		—		0.72			0.64			—		—		—		—		0.64			5.41		13.42			12,729		2.96			1.99			1.99			(1.41	)		—
C		4.77		(0.09	)		—		0.72			0.63			—		—		—		—		0.63			5.40		13.21			11,521		2.71			2.24			2.24			(1.67	)		—
Y		5.09		(0.03	)		—		0.76			0.73			—		—		—		—		0.73			5.82		14.34			1,137		1.26			1.20			1.20			(0.62	)		—
For the Year Ended October 31, 2005
A		4.42		—			—		0.55			0.55			—		—		—		—		0.55			4.97		12.44			27,620		2.22			1.60			1.60			—			132
B		4.28		(0.04	)		—		0.53			0.49			—		—		—		—		0.49			4.77		11.45			12,409		3.05			2.35			2.35			(0.79	)		—
C		4.28		(0.04	)		—		0.53			0.49			—		—		—		—		0.49			4.77		11.45			10,712		2.75			2.35			2.35			(0.65	)		—
Y		4.51		0.03			—		0.55			0.58			—		—		—		—		0.58			5.09		12.86			938		1.22			1.20			1.20			0.58			—
For the Year Ended October 31, 2004
A		4.68		(0.07	)		—		(0.19	)		(0.26	)		—		—		—		—		(0.26	)		4.42		(5.56	)		31,418		2.14			1.65			1.65			(1.37	)		165
B		4.56		(0.10	)		—		(0.18	)		(0.28	)		—		—		—		—		(0.28	)		4.28		(6.14	)		12,978		2.96			2.35			2.35			(2.07	)		—
C		4.56		(0.11	)		—		(0.17	)		(0.28	)		—		—		—		—		(0.28	)		4.28		(6.14	)		13,891		2.62			2.35			2.35			(2.07	)		—
Y		4.75		(0.04	)		—		(0.20	)		(0.24	)		—		—		—		—		(0.24	)		4.51		(5.05	)		1,186		1.15			1.15			1.15			(0.85	)		—

(a)	Information presented relates to a share outstanding throughout the indicated period.
(b)	Assumes initial investment at net asset value at the beginning of each period, reinvestment of all distributions, the complete redemption of the investment at net asset value at the end of each period and no sales charge. Total return would be reduced if sales charges were taken into account.
(c)	Ratios do not include fees paid indirectly (See Expenses in the accompanying Notes to Financial Statements).
(d)	Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between the classes of shares issued.
(e)	Not annualized.
(f)	Annualized.
(g)	Total return without the inclusion of the Payments from (to) Affiliate, as noted on the Statement of Operations, can be found in Expenses in the accompanying Notes to Financial Statements.

18

The Hartford Global Technology Fund

Directors and Officers (Unaudited)

The Board of Directors appoints officers who are responsible for the day-to-day operations of the Fund and who execute policies formulated by the Directors. Each director serves until his or her death, resignation, or retirement or until the next annual meeting of shareholders is held or until his or her successor is elected and qualifies.

Directors and officers who are employed by or who have a financial interest in The Hartford are considered “interested” persons of the Fund pursuant to the Investment Company Act of 1940, as amended. Each officer and three of the Fund’s directors, as noted in the chart below, are “interested” persons of the Fund. Each director serves as a director for The Hartford Mutual Funds, Inc., The Hartford Mutual Funds II, Inc., The Hartford Income Shares Fund, Inc., Hartford Series Fund, Inc., and Hartford HLS Series Fund II, Inc., which collectively consist of 100 funds. Correspondence may be sent to directors and officers c/o Hartford Mutual Funds, P.O. Box 2999, Hartford, Connecticut 06104-2999, except that correspondence to Ms. Fagely may be sent to 500 Bielenberg Drive, Woodbury, Minnesota 55125.

The table below sets forth, for each director and officer, his or her name, year of birth, current position with the Fund and date first elected or appointed to The Hartford Mutual Funds, Inc. (“MF”) and The Hartford Mutual Funds II, Inc. (“MF2”), principal occupation, and, for directors, other directorships held. The Fund’s statement of additional information contains further information on the directors and is available free of charge by calling 1-888-843-7824 or writing to Hartford Mutual Funds, P.O. Box 64387, St. Paul, MN 55164-0387.

Information on the aggregate remuneration paid to the directors of the Fund can be found in the Statement of Operations herein. The Fund pays a portion of the Chief Compliance Officer’s compensation, but does not pay salaries or compensation to any of its officers or directors who are employed by The Hartford.

Non-Interested Directors

Lynn S. Birdsong (1946) Director since 2003, Co-Chairman of the Investment Committee

Mr. Birdsong is a private investor. Since 1981, Mr. Birdsong has been a partner in Birdsong Company, an advertising specialty firm. Since 2003, Mr. Birdsong has been an independent director of The Japan Fund. From 2003 to March 2005, Mr. Birdsong was an independent director of the Atlantic Whitehall Funds. From 1979 to 2002, Mr. Birdsong was a managing director of Zurich Scudder Investments, an investment management firm. During his employment with Scudder, Mr. Birdsong was an interested director of The Japan Fund.

Robert M. Gavin, Jr. (1940) Director since 2002 (MF) and 1986 (MF2), Chairman of the Board since 2004

Dr. Gavin is an educational consultant. Prior to September 1, 2001, he was President of Cranbrook Education Community and prior to July 1996, he was President of Macalester College, St. Paul, Minnesota.

Duane E. Hill (1945) Director since 2001 (MF) and 2002 (MF2), Chairman of the Nominating Committee

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

Sandra S. Jaffee (1941) Director since 2005

Ms. Jaffee is Chairman and Chief Executive Officer of Fortent (formerly Searchspace Group), a leading provider of compliance/regulatory technology to financial institutions. Ms. Jaffee served as an Entrepreneur in Residence with Warburg Pincus, a private equity firm, from August 2004 to August 2005. From September 1995 to July 2004, Ms. Jaffee served as Executive Vice President at Citigroup, where she was President and Chief Executive Officer of Citibank’s Global Securities Services (1995-2003).

William P. Johnston (1944) Director since 2005, Chairman of the Compliance Committee

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

19

The Hartford Global Technology Fund

Directors and Officers (Unaudited) — (continued)

Phillip O. Peterson (1944) Director since 2002 (MF) and 2000 (MF2), Chairman of the Audit Committee

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

Lemma W. Senbet (1946) Director since 2005

Dr. Senbet is the William E. Mayer Chair Professor of Finance at the University of Maryland, Robert H. Smith School of Business. He was chair of the Finance Department during 1998-2006. Previously he was an endowed professor of finance at the University of Wisconsin-Madison. Also, he was director of the Fortis Funds from March 2000-July 2002. Dr. Senbet served the finance profession in various capacities, including as director of the American Finance Association and President of the Western Finance Association. In 2006, Dr. Senbet was inducted Fellow of Financial Management Association International for his career-long distinguished scholarship and professional service.

Interested Directors and Officers

Thomas M. Marra* (1958) Director since 2002

Mr. Marra has served as President and Chief Operating Officer of The Hartford Financial Services Group, Inc. (“The Hartford”) since 2007. Mr. Marra currently serves as Director of Hartford Life, Inc. (“HL, Inc.”). Mr. Marra served as Chief Operating Officer of Hartford Life Insurance Company, Inc. (“Hartford Life”) (2000-2008), as President of Hartford Life (2002-2008) and as Director of Hartford Life’s Investment Products Division from 1998 to 2000.

* On February 24, 2009, The Hartford and Mr. Marra determined to enter into a mutually agreed separation whereby Mr. Marra will retire, and his role as an executive officer and employee of The Hartford will terminate, effective July 3, 2009. Mr. Marra will resign his position as a Director of the Fund effective June 25, 2009.

Lowndes A. Smith (1939) Director since 2002, Co-Chairman of the Investment Committee

Mr. Smith served as Vice Chairman of The Hartford from February 1997 to January 2002, as President and Chief Executive Officer of Hartford Life, Inc. from February 1997 to January 2002, and as President and Chief Operating Officer of The Hartford Life Insurance Companies from January 1989 to January 2002. Mr. Smith serves as a Director of White Mountains Insurance Group, Ltd., One Beacon Insurance, Symetra Financial and as a Managing Director of Whittington Gray Associates.

John C. Walters* (1962) Director since 2008

Mr. Walters currently serves as Chief Executive Officer, President and Director of HL, Inc. Mr. Walters previously served as President of the U.S. Wealth Management Division of Hartford Life, Inc., as Co-Chief Operating Officer of Hartford Life Insurance Company (2007-2008) and as Executive Vice President and Director of its Investment Products Division (2000-2008). Mr. Walters also serves as Chairman of the Board, Chief Executive Officer, President and Director of Hartford Life Insurance Company and as Executive Vice President of The Hartford. In addition, Mr. Walters is Manager of HL Investment Advisors, LLC (“HL Advisors”).

* Mr. Walters previously served as President and Chief Executive Officer of the Fund (2007 – 2009).

Other Officers

Robert M. Arena, Jr. (1968) President and Chief Executive Officer since 2009 (served as Vice President of the Fund (2006 – 2009))

Mr. Arena serves as Executive Vice President of Hartford Life Insurance Company, (“Hartford Life”). Additionally, Mr. Arena is Director and Senior Vice President of Hartford Administrative Services Company, (“HASCO”), Manager, Chief Executive Officer and President of Hartford Investment Financial Services, LLC (“HIFSCO”) and HL Advisors. Prior to joining The Hartford in 2004, he was Senior Vice President in charge of Product Management for American Skandia/Prudential in the individual annuities division. Mr. Arena joined American Skandia in 1996.

Tamara L. Fagely (1958) Vice President, Treasurer and Controller since 2002 (MF) 1993 (MF2)

Ms. Fagely has been a Vice President of HASCO since 1998 and Chief Financial Officer since 2006. Currently Ms. Fagely is a Vice President of Hartford Life. She served as Assistant Vice President of Hartford Life from December 2001 through March 2005. In addition, Ms. Fagely is Controller and Chief Financial Officer of HIFSCO.

Brian Ferrell (1962) AML Compliance Officer since 2008

Mr. Ferrell has served as Assistant Vice President and AML Compliance Officer for The Hartford since 2006 and as AML Compliance Officer for HASCO and Hartford Investor Services Company, LLC (“HISC”) since 2008. Prior to joining The Hartford in 2006, Mr. Ferrell held various positions at the U.S. Department of the Treasury, (the “Treasury”), from 2001 to 2006 where he served as Chief Counsel for the Treasury’s Financial Crimes Enforcement Network, (“FinCEN”) from 2005 – 2006.

20

Thomas D. Jones, III (1965) Vice President and Chief Compliance Officer since 2006

Mr. Jones serves as Chief Compliance Officer for the Hartford Mutual Funds and Vice President and Director of Securities Compliance for The Hartford. He is also Vice President of HIFSCO, HL Advisors, and Hartford Life Insurance Company. Mr. Jones joined The Hartford in 2006 from SEI Investments, where he served as Chief Compliance Officer for its mutual funds and investment advisers. Prior to joining SEI, Mr. Jones was First Vice President and Compliance Director for Merrill Lynch Investment Managers (Americas) (“MLIM”), where he worked from 1992-2004. At MLIM, Mr. Jones was responsible for the compliance oversight of various investment products, including mutual funds, wrap accounts, institutional accounts and alternative investments.

Edward P. Macdonald (1967) Vice President, Secretary and Chief Legal Officer since 2005

Mr. Macdonald serves as Assistant General Counsel and Assistant Vice President of The Hartford and Chief Legal Officer and Vice President of HIFSCO. He also serves as Vice President and Secretary of HASCO, Assistant Vice President of Hartford Life, and Chief Legal Officer, Secretary and Vice President of HL Advisors. Prior to joining The Hartford in 2005, Mr. Macdonald was Chief Counsel, Investment Management for Prudential Financial (formerly American Skandia Investment Services, Inc.). He joined Prudential in April 1999.

Vernon J. Meyer (1964) Vice President since 2006

Mr. Meyer serves as Senior Vice President of Hartford Life and as Director of its Investment Advisory Group in the Individual Markets Group segment. He also serves as Senior Vice President of HIFSCO and HL Advisors. Prior to joining The Hartford in 2004, Mr. Meyer was with MassMutual which he joined in 1987.

D. Keith Sloane (1960) Vice President since 2009

Mr. Sloane is a Senior Vice President of Hartford Life where he serves as Director of mutual fund product management for The Hartford’s mutual funds and 529 college savings businesses. Additionally, Mr. Sloane currently serves as Senior Vice President of HIFSCO, HL Advisors, and HASCO. Prior to joining The Hartford in 2007, Mr. Sloane was Director of product marketing and led the mutual fund business for Wachovia Securities (“Wachovia”) in their investment products group. Mr. Sloane joined Wachovia in 1995.

Jane Wolak (1961) Vice President since 2009

Ms. Wolak currently serves as Vice President of Hartford Life. Ms. Wolak joined Hartford Life as Vice President, Retail Product Services in May 2007. She is also Vice President of HASCO. Previously, Ms. Wolak was with Sun Life Financial where she held the position of Vice President, Service Center Operations from 2001 – 2007.

HOW TO OBTAIN A COPY OF THE FUND’S PROXY VOTING POLICIES AND VOTING RECORDS

A description of the policies and procedures that the Fund uses to determine how to vote proxies relating to portfolio securities and a record of how the Fund voted any proxies for the twelve-month period ended June 30, 2008 is available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov.

QUARTERLY PORTFOLIO HOLDINGS INFORMATION

The Fund files a complete schedule of portfolio holdings with the Commission for the first and third quarters of each fiscal year on Form N-Q. The Fund’s Forms are available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov. The Form N-Q may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330.

21

The Hartford Global Technology Fund

Expense Example (Unaudited)

Your Fund’s Expenses

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments and contingent deferred sales charges (CDSC) (2) ongoing costs including management fees; distribution fees; and other fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the period of October 31, 2008 through April 30, 2009.

Actual Expenses

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

Hypothetical Example for Comparison Purposes

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

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads) and CDSC. Therefore, the second line 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 are equal to the Fund’s annualized expense ratios multiplied by average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

	Actual return						Hypothetical (5% return before expenses)
					Expenses paid						Expenses paid					Days in
					during the period						during the period					the		Days
	Beginning		Ending Account		October 31, 2008		Beginning		Ending Account		October 31,		Annualized			current		in the
	Account Value		Value		through		Account Value		Value		2008 through		expense			1/2		full
	October 31, 2008		April 30, 2009		April 30, 2009		October 31, 2008		April 30, 2009		April 30, 2009		ratio			year		year
Class A	$	1,000.00	$	1,062.50	$	5.01	$	1,000.00	$	1,019.93	$	4.90		0.98	%		181		365
Class B	$	1,000.00	$	1,058.01	$	7.65	$	1,000.00	$	1,017.35	$	7.50		1.50			181		365
Class C	$	1,000.00	$	1,055.71	$	10.14	$	1,000.00	$	1,014.92	$	9.94		1.99			181		365
Class Y	$	1,000.00	$	1,060.45	$	6.13	$	1,000.00	$	1,018.84	$	6.01		1.20			181		365

22

The Hartford Growth Allocation Fund

Table of Contents

Manager Discussions (Unaudited)	2
Financial Statements
Schedule of Investments at April 30, 2009 (Unaudited)	4
Statement of Assets and Liabilities at April 30, 2009 (Unaudited)	5
Statement of Operations for the Six Month Period Ended April 30, 2009 (Unaudited)	6
Statement of Changes in Net Assets for the Six Month Period Ended April 30, 2009 (Unaudited) and the Year Ended October 31, 2008	7
Notes to Financial Statements (Unaudited)	8
Financial Highlights (Unaudited)	17
Directors and Officers (Unaudited)	18
How to Obtain a Copy of the Fund’s Proxy Voting Policies and Proxy Voting Records (Unaudited)	20
Quarterly Portfolio Holdings Information (Unaudited)	20
Expense Example (Unaudited)	21

The Hartford Growth Allocation Fund

(subadvised by Hartford Investment Management Company)

Performance Overview(1) 5/28/04 — 4/30/09
Growth of a $10,000 investment in Class A which includes Sales Charge

Barclays Capital U.S. Aggregate Bond Index is an unmanaged index and is composed of securities from the Barclays Capital Government/Credit Bond Index, Mortgage-Backed Securities Index, Asset-Backed Securities Index and Commercial Mortgage-Backed Securities Index.

S&P 500 Index is a market capitalization weighted price index composed of 500 widely held common stocks.

You cannot invest directly in an index.

The value of shares will fluctuate so that, when redeemed, shares may be worth more or less than their original cost. The chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.

Investment objective — Seeks long-term capital appreciation.

Average Annual Total Returns(2,3,4) (as of 4/30/09)

	Inception		1			Since
	Date		Year			Inception
Growth Allocation A#		5/28/04		-31.13	%		-0.43	%
Growth Allocation A##		5/28/04		-34.92	%		-1.57	%
Growth Allocation B#		5/28/04		-31.66	%		-1.12	%
Growth Allocation B##		5/28/04		-34.95	%		-1.46	%
Growth Allocation C#		5/28/04		-31.63	%		-1.11	%
Growth Allocation C##		5/28/04		-32.29	%		-1.11	%
Growth Allocation I#		5/28/04		-30.93	%		-0.24	%
Growth Allocation R3#		5/28/04		-31.42	%		-0.63	%
Growth Allocation R4#		5/28/04		-31.11	%		-0.43	%
Growth Allocation R5#		5/28/04		-30.93	%		-0.29	%

#	Without sales charge
##	With sales charge

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)	Growth of a $10,000 investment in Classes B, C, I, R3, R4 and R5 shares will vary from results seen above due to differences in the expenses charged to these classes.
(2)	Class I shares commenced operations on 8/31/06. Performance prior to 8/31/06 reflects Class A performance. Class R3, R4 and R5 shares commenced operations on 12/22/06. Performance prior to 12/22/06 reflects Class A performance.
(3)	The initial investment in Class A shares reflects the maximum sales charge and Classes B and C reflect CDSC.
(4)	Total returns presented above were calculated using the Fund’s net asset value available to shareholders for sale or redemption of Fund shares on April 30, 2009, which excludes investment transactions as of this date.

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

Portfolio Managers
Hugh Whelan, CFA	Edward C. Caputo, CFA
Managing Director	Vice President

How did the Fund perform?

The Class A shares of The Hartford Growth Allocation Fund returned - -1.75%, before sales charge, for the six-month period ended April 30, 2009. In comparison, its benchmarks, the S&P 500 Index and the Barclays Capital U.S. Aggregate Bond Index, returned -8.53% and 7.74%, respectively, while the average return of the Lipper Mixed-Asset Target Allocation Growth Funds category, a group of funds with investment strategies similar to those of the Fund, was -1.70%.

Why did the Fund perform this way?

The U.S. recession continued to deepen during the six-month period under review. Rising unemployment weighed on personal income and spending, while first quarter industrial production posted the steepest quarterly decline in more than 30 years. However, as the six-month period drew to a close, there were some signs that perhaps the rate of economic decline was beginning to slow. Financial conditions stabilized a bit, while the Fed’s purchases of long-term Treasuries and mortgage-backed securities also provided strong support for the mortgage market, driving fixed mortgage rates lower. Generally, the Fund’s target asset allocation is set at approximately 80% equities and 20% fixed-income.

This environment initially created another difficult period for stocks, with the S&P 500 Index closing at a new low of 676.53 on March 9, down - -29.30% since the start of the 6-month period. However, emergent signs of a slowdown in the economy’s free-fall helped lift the index through the remainder of the period, leaving it down “only” -8.53% for the period. The index was in the black in March and April, gaining 8.76% and 9.57%, respectively, for a gain of 29.38% from March 9 through the end of the period. Declines were widespread across most equity asset classes during the six-month period. Among the eleven equity asset classes in our

2

investment universe, emerging market stocks, EAFE small cap stocks, and U.S. midcap growth stock indices posted positive returns over the 6-month period. U.S. Real-Estate Investment Trusts (REITS) led the way lower during the period, while growth stocks continued to outperform value stocks across all market capitalization levels. International stocks outperformed U.S. stocks.

In fixed income, five and ten year Treasury yields increased during the 6-month period. Within the major sectors of the Barclays Capital U.S. Aggregate Index, investment grade credit was the top performer at 11.47%, while commercial mortgage-backed securities (CMBS) were the weakest performers at 1.32%. In the high yield asset classes, high yield bonds and emerging markets debt both outperformed the Barclays Capital U.S. Aggregate Index, while floating rate notes did not. In addition, Treasury Inflation-Protection Securities (TIPS) were the best performing investment grade asset class in our investment universe at 9.46%.

There are two main drivers of the Fund’s performance: asset allocation among various asset classes and performance of the underlying funds. With regard to asset allocation, the Fund maintains relatively fixed exposures to the equity and fixed income markets. Therefore, we seek to add value by strategically allocating within the equity and fixed income investment sub asset classes. Our asset allocation decisions over the period improved the Fund’s performance.

Concerning the Fund’s equity exposure, favorable allocations to emerging market stocks and international small cap stocks helped offset unfavorable allocations to U.S. stocks. By design, the Fund also maintains exposure to various fixed income asset classes to deliver a well diversified portfolio solution. The Fund also benefited from its allocation to TIPS.

Beyond the asset allocation decision, we also seek to add value by selecting the underlying mutual funds that will most effectively deliver the target asset class exposures. We analyze all of the funds in our investment universe, looking through each fund’s objective and stated benchmark to see what it actually holds and how it really behaves. During the period, underlying fund selection detracted from our overall performance.

During the period, the Fund continued to utilize Exchange-Traded Funds (ETFs) to obtain asset class exposures otherwise unavailable through The Hartford family of funds. Specifically, the Fund has target allocations to ETFs that provide U.S. real estate and international real estate exposure.

Whenever possible, we rely on cash flows to execute our allocation changes. That was the case during the six-month period ended April 30, and no hard rebalance (i.e. a fund rebalancing to move the underlying fund investments to their target allocation percentages) was required.

What is the outlook?

In fixed income, risk premiums (the additional compensation paid to investors to tolerate the increased level of risk in a given asset class relative to Treasuries) across most asset classes reversed course and began to contract as conditions improved and volatility declined. An onslaught of government policy, from fiscal stimulus to quantitative easing, was the primary catalyst and buyers of historically inexpensive corporate debt emerged as more market participants recognized relative value versus equities. Although risk premiums have come off their historical peak, spreads remain significantly wider (i.e. short and long term interest rates farther apart) than in prior recessions.

In equities the earnings picture is cloudy. First, earnings are falling at near record-breaking rates and all indications are that they will continue to fall. Second, the quality and reliability of the earnings reported is lower than historical standards as the gap between pro forma (“street”) earnings and GAAP (Generally Accepted Accounting Principles) earnings rose in the past several months. Third, there is little clarity in future earnings prospects as the disparity among analyst estimates for future earnings remains at elevated levels. Historically, such consensus building was a precondition to the final, sustained recovery from bear markets associated with recessions.

We believe that investors are well served by adhering to a strategic, diversified portfolio and rebalancing accordingly. We construct these portfolios based upon the long-term properties of asset classes. We look at their long-term returns, volatilities, and correlations between each other and run optimizations to build an optimal portfolio.

Composition by Underlying Fund
as of April 30, 2009

	Percentage of Net
Fund Name	Assets
SPDR DJ Wilshire International Real Estate ETF		0.6	%
SPDR DJ Wilshire REIT ETF		0.2
The Hartford Capital Appreciation Fund, Class Y		21.2
The Hartford Capital Appreciation II Fund, Class Y		0.2
The Hartford Disciplined Equity Fund, Class Y		3.5
The Hartford Dividend and Growth Fund, Class Y		3.3
The Hartford Equity Income Fund, Class Y		3.0
The Hartford Fundamental Growth Fund, Class Y		0.9
The Hartford Global Growth Fund, Class Y		7.1
The Hartford Growth Fund, Class Y		2.8
The Hartford Growth Opportunities Fund, Class Y		5.4
The Hartford Inflation Plus Fund, Class Y		3.8
The Hartford International Opportunities Fund, Class Y		3.9
The Hartford International Small Company Fund, Class Y		4.3
The Hartford MidCap Fund, Class Y		0.5
The Hartford Select MidCap Value Fund, Class Y		1.7
The Hartford Select SmallCap Value Fund, Class Y		4.5
The Hartford Short Duration Fund, Class Y		2.5
The Hartford Small Company Fund, Class Y		4.0
The Hartford SmallCap Growth Fund, Class Y		0.1
The Hartford Total Return Bond Fund, Class Y		11.7
The Hartford Value Fund, Class Y		14.8
Other Assets and Liabilities		0.0
Total		100.0	%

3

The Hartford Growth Allocation Fund

Schedule of Investments

April 30, 2009 (Unaudited)

(000’s Omitted)

Shares or Principal Amount					Market Value ╪
AFFILIATED INVESTMENT COMPANIES — 99.2%
EQUITY FUNDS — 81.2%
	4,640	The Hartford Capital Appreciation Fund, Class Y			$	114,711
	97	The Hartford Capital Appreciation II Fund, Class Y •				872
	2,086	The Hartford Disciplined Equity Fund, Class Y				18,924
	1,328	The Hartford Dividend and Growth Fund, Class Y				18,148
	1,807	The Hartford Equity Income Fund, Class Y				16,321
	631	The Hartford Fundamental Growth Fund, Class Y •				4,831
	3,485	The Hartford Global Growth Fund, Class Y				38,163
	1,255	The Hartford Growth Fund, Class Y •				15,160
	1,630	The Hartford Growth Opportunities Fund, Class Y •				29,384
	2,100	The Hartford International Opportunities Fund, Class Y				21,314
	2,969	The Hartford International Small Company Fund, Class Y				23,190
	159	The Hartford MidCap Fund, Class Y •				2,477
	1,438	The Hartford Select MidCap Value Fund, Class Y				9,042
	3,697	The Hartford Select SmallCap Value Fund, Class Y				24,509
	1,645	The Hartford Small Company Fund, Class Y				21,560
	24	The Hartford SmallCap Growth Fund, Class Y •				434
	9,967	The Hartford Value Fund, Class Y				80,331
		Total equity funds (cost $672,169)			$	439,371
FIXED INCOME FUNDS — 18.0%
	1,916	The Hartford Inflation Plus Fund, Class Y			$	20,524
	1,496	The Hartford Short Duration Fund, Class Y				13,640
	6,559	The Hartford Total Return Bond Fund, Class Y				63,036
		Total fixed income funds (cost $103,624)			$	97,200
		Total investments in affiliated investment companies (cost $775,793)			$	536,571
EXCHANGE TRADED FUNDS — 0.8%
	127	SPDR DJ Wilshire International Real Estate ETF			$	3,166
	30	SPDR DJ Wilshire REIT ETF				1,036
		Total exchange traded funds (cost $8,046)			$	4,202
		Total long-term investments (cost $783,839)			$	540,773
		Total investments (cost $783,839) ▲	100.0	%	$	540,773
		Other assets and liabilities	—	%		(103	)
		Total net assets	100.0	%	$	540,670

Note:	Percentage of investments as shown is the ratio of the total market value to total net assets.
▲	At April 30, 2009, the cost of securities for federal income tax purposes was $784,390 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	710
Unrealized Depreciation		(244,327	)
Net Unrealized Depreciation	$	(243,617	)

•	Currently non-income producing.
╪	See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of securities.

FAS 157 Disclosure of Investment Valuation Hierarchy Levels

Assets:
Investment in securities — Level 1	$	540,773
Total	$	540,773

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

4

The Hartford Growth Allocation Fund

Statement of Assets and Liabilities

April 30, 2009 (Unaudited)

(000’s Omitted)

Assets:
Investments in securities, at fair value (cost $8,046)	$	4,202
Investments in underlying affiliated funds, at fair value (cost $775,793)		536,571
Receivables:
Investment securities sold		3
Fund shares sold		847
Dividends and interest		237
Other assets		123
Total assets		541,983
Liabilities:
Payables:
Fund shares redeemed		1,055
Investment management fees		12
Distribution fees		48
Accrued expenses		198
Total liabilities		1,313
Net assets	$	540,670
Summary of Net Assets:
Capital stock and paid-in-capital		791,598
Accumulated distribution in excess of net investment income		(55	)
Accumulated net realized loss on investments		(7,807	)
Unrealized depreciation of investments		(243,066	)
Net assets	$	540,670
Shares authorized		450,000
Par value	$	0.001
Class A: Net asset value per share/Maximum offering price per share	$	8.04/$8.50
Shares outstanding		38,752
Net assets	$	311,412
Class B: Net asset value per share	$	8.01
Shares outstanding		10,378
Net assets	$	83,082
Class C: Net asset value per share	$	8.00
Shares outstanding		16,652
Net assets	$	133,165
Class I: Net asset value per share	$	8.00
Shares outstanding		178
Net assets	$	1,424
Class R3: Net asset value per share	$	7.98
Shares outstanding		57
Net assets	$	455
Class R4: Net asset value per share	$	8.00
Shares outstanding		944
Net assets	$	7,547
Class R5: Net asset value per share	$	8.03
Shares outstanding		447
Net assets	$	3,585

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

5

The Hartford Growth Allocation Fund

Statement of Operations

For the Six Month Period Ended April 30, 2009 (Unaudited)

(000’s Omitted)

Investment Income:
Dividends	$	105
Dividends from underlying affiliated funds		8,627
Total investment income		8,732
Expenses:
Investment management fees		380
Transfer agent fees		635
Distribution fees
Class A		370
Class B		397
Class C		645
Class R3		—
Class R4		8
Custodian fees		—
Accounting services		31
Registration and filing fees		57
Board of Directors’ fees		6
Audit fees		10
Other expenses		124
Total expenses (before waivers)		2,663
Expense waivers		(138	)
Transfer agent fee waivers		(12	)
Total waivers		(150	)
Total expenses, net		2,513
Net investment income		6,219
Net Realized Loss on Investments:
Net realized loss on investments in underlying affiliated funds		(7,231	)
Net realized loss on investments in securities		(23	)
Net Realized Loss on Investments		(7,254	)
Net Changes in Unrealized Depreciation of Investments:
Net unrealized depreciation of investments		(13,976	)
Net Changes in Unrealized Depreciation of Investments		(13,976	)
Net Loss on Investments		(21,230	)
Net Decrease in Net Assets Resulting from Operations	$	(15,011	)

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

6

The Hartford Growth Allocation Fund

Statement of Changes in Net Assets

(000’s Omitted)

	For the Six-Month
	Period Ended			For the
	April 30, 2009			Year Ended
	(Unaudited)			October 31, 2008
Operations:
Net investment income	$	6,219		$	5,854
Net realized gain (loss) on investments		(7,254	)		36,540
Net unrealized depreciation of investments		(13,976	)		(361,257	)
Net decrease in net assets resulting from operations		(15,011	)		(318,863	)
Distributions to Shareholders:
From net investment income
Class A		(6,850	)		(17,401	)
Class B		(892	)		(4,046	)
Class C		(1,565	)		(6,814	)
Class I		(34	)		(31	)
Class R3		(1	)		(2	)
Class R4		(131	)		(51	)
Class R5		(78	)		(26	)
From net realized gain on investments
Class A		(7,321	)		(27,626	)
Class B		(2,009	)		(7,937	)
Class C		(3,309	)		(13,242	)
Class I		(29	)		(44	)
Class R3		(1	)		(3	)
Class R4		(122	)		(69	)
Class R5		(66	)		(38	)
Total distributions		(22,408	)		(77,330	)
Capital Share Transactions:
Class A		4,216			50,492
Class B		(1,326	)		9,391
Class C		(5,973	)		14,661
Class I		199			1,089
Class R3		378			28
Class R4		3,018			6,717
Class R5		864			3,083
Net increase from capital share transactions		1,376			85,461
Net decrease in net assets		(36,043	)		(310,732	)
Net Assets:
Beginning of period		576,714			887,446
End of period	$	540,671		$	576,714
Accumulated undistributed (distribution in excess of) net investment income (loss)	$	(55	)	$	3,277

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

7

The Hartford Growth Allocation Fund

Notes to Financial Statements

April 30, 2009 (Unaudited)

(000’s Omitted)

1.	Organization:
	The Hartford Mutual Funds, Inc. (“Company”) is an open-end management investment company comprised of fifty-two portfolios. Financial statements for The Hartford Growth Allocation Fund (the “Fund”), a series of the Company, are included in this report.
	The Company is organized under the laws of the State of Maryland and is registered with the Securities and Exchange Commission (“SEC”) under the Investment Company Act of 1940, as amended (“1940 Act”). The Fund is a diversified open-end management investment company.
	Class A shares are sold with a front-end sales charge of up to 5.50%. Class B shares are sold with a contingent deferred sales charge which is assessed on the lesser of the per share net asset value (“NAV”) of the shares at the time of redemption or the original purchase price, and declines from up to 5.00% to zero depending on the period of time the shares are held. Class C shares are sold with a contingent deferred sales charge of up to 1.00% on shares redeemed within twelve months of purchase. Class I shares are sold without sales charges to certain eligible investors through advisory fee-based wrap programs. Classes R3, R4, R5 shares, which are offered to employer-sponsored retirement plans, are sold without a sales charge. All classes of shares have identical voting, redemption, dividend, liquidation and other rights and the same terms and conditions, with the exceptions that each class may have different expenses, which may affect performance, and except that Class B shares automatically convert to Class A shares after 8 years.
	The Fund, as a “Fund of Funds”, invests the majority of its assets in Class Y shares of other Hartford mutual funds (“Underlying Funds”) as well as certain exchange-traded funds (“ETFs”). The Fund seeks its investment goals through implementation of a strategic asset allocation recommendation provided by Hartford Investment Management Company (“Hartford Investment Management”), a wholly-owned indirect subsidiary of The Hartford Financial Services Group, Inc. (“The Hartford”).
	Effective at the close of business on September 30, 2009 (the “Close Date”), no new or additional investments will be allowed in Class B shares of The Hartford Mutual Funds (including investments through any systematic investment plan). After the Close Date, existing shareholders of Class B shares may continue to hold their Class B shares, exchange their Class B shares for Class B shares of another Hartford Mutual Fund (as permitted by existing exchange privileges), and redeem their Class B shares as described in the Fund’s prospectus. Reinstatement privileges with respect to Class B shares will continue under the current policy. If you have chosen to reinvest capital gains and dividends, any such capital gains or dividends on Class B shares will continue to be reinvested in Class B shares of the Fund. For Class B shares outstanding as of the Close Date, all Class B share attributes, including the 12b-1 fee, contingent deferred sales charge schedule, and conversion to Class A shares remain unchanged.
2.	Significant Accounting Policies:
	The accounting policies of the affiliated underlying funds are outlined in the shareholder reports for such funds, available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov. The reports may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330. The affiliated Underlying Funds are not covered by this report.
	The following is a summary of significant accounting policies of the Fund, which are in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”).

a) Security Transactions and Investment Income — Security transactions are recorded on the trade date (the date the order to buy or sell is executed). Security gains and losses are determined on the basis of identified cost.

8

	Dividend income is accrued as of the ex-dividend date. Income and capital gain distributions from Underlying Funds are recorded on the ex-dividend date.
b)	Security Valuation — Investments in open-end mutual funds are valued at the respective NAV of each open-end mutual fund on the valuation date.
	The Fund generally uses market prices in valuing portfolio securities. If market prices are not readily available or are deemed unreliable, the Fund will use the fair value of the security as determined in good faith under policies and procedures established by and under the supervision of the Fund’s Board of Directors. Market prices may be deemed unreliable, for example, if a security is thinly traded or if an event has occurred after the close of the security’s primary markets, but before the close of the New York Stock Exchange (the “Exchange”) (normally 4:00 p.m. Eastern Time, referred to as the “Valuation Time”) that is expected to affect the value of the portfolio security. The circumstances in which the Fund may use fair value pricing include, among others: (i) the occurrence of events that are significant to a particular issuer, such as mergers, restructuring or defaults; (ii) the occurrence of events that are significant to an entire market, such as natural disasters in a particular region or governmental actions; (iii) trading restrictions on securities; (iv) thinly traded securities and (v) market events such as trading halts and early market closings. In addition, with respect to the valuation of stocks primarily traded on foreign markets, the Fund uses a fair value pricing service approved by the Fund’s Board of Directors, which employs quantitative models that evaluate changes in the value of foreign market proxies (e.g., futures contracts, ADR’s, exchange traded funds (“ETF’s”)) after the close of the foreign markets but before the close of the Exchange. Securities that are primarily traded on foreign markets may trade on days that are not business days of the Fund. The value of the foreign securities in which the Fund invests may change on days when a shareholder will not be able to purchase or redeem shares of the Fund. Fair value pricing is subjective in nature and the use of fair value pricing by the Fund may cause the NAV of its shares to differ significantly from the NAV that would have been calculated using market prices at the close of the exchange on which a portfolio security is primarily traded but before the close of the Exchange. There can be no assurance that the Fund could obtain the fair value assigned to a security if the Fund were to sell the security at approximately the time at which the Fund determines its NAV.
	Debt securities (other than short-term obligations and senior floating rate interests) held by the Fund are valued on the basis of valuations furnished by an independent pricing service which determines valuations for normal institutional size trading units of debt securities. Senior floating rate interests generally trade in over-the-counter markets and are priced through an independent pricing service utilizing independent market quotations from loan dealers or financial institutions. Securities for which prices are not available from an independent pricing service are valued using market quotations obtained from one or more dealers that make markets in the securities in accordance with procedures established by the Fund’s Board of Directors. Generally, the Fund may use fair valuation in regard to debt securities when the Fund holds defaulted or distressed securities or securities in a company in which a reorganization is pending. Short-term investments with a maturity of more than 60 days when purchased are valued based on market quotations until the remaining days to maturity become less than 61 days. Investments that mature in 60 days or less are valued at amortized cost, which approximates market value.
	Exchange traded equity securities shall be valued at the last reported sale price on the exchange or market on which the security is primarily traded (the “Primary Market”) at the Valuation Time. If the security did not trade on the Primary Market, it may be valued at the Valuation Time at the last reported sale price on another exchange where it trades. The value of an equity security not traded on any exchange but traded on the Nasdaq Stock Market, Inc. (“Nasdaq”) or another over-the-counter market shall be valued at the last reported sale price or official closing price on the exchange or market on which the security is traded as of the Valuation Time. If it is not possible to determine the last reported sale price or official closing price on the relevant exchange or market at the Valuation Time, the value of the security shall be taken to be the most recent mean between bid and asked prices on such exchange or market at the Valuation Time.
	Securities of foreign issuers and non-dollar securities are translated from the local currency into U.S. dollars using prevailing exchange rates.

9

The Hartford Growth Allocation Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

	Options contracts on securities, currencies, indexes, futures contracts, commodities and other instruments shall be valued at their most recent sales price at the Valuation Time on the Primary Market on which the instrument is primarily traded. If the instrument did not trade on the Primary Market, it may be valued at the most recent sales price at the Valuation Time on another exchange or market where it did trade.
	Futures contracts are valued at the most recent settlement price reported by an exchange on which, over time, they are traded most extensively. If a settlement price is not available, futures contracts will be valued at the most recent trade price as of the Valuation Time. If there were no trades, the contract shall be valued at the mean of the closing bid/ask prices as of the Valuation Time.
	Financial instruments for which prices are not available from an independent pricing service are valued using market quotations obtained from one or more dealers that make markets in securities in accordance with procedures established by the Fund’s Board of Directors.
	A forward currency contract shall be valued based on the price of the underlying currency at the prevailing interpolated exchange rate, which is a combination of the spot currency rate and the forward currency rate. Spot currency rates and forward currency rates are obtained from an independent pricing service on a daily basis not more than one hour before the Valuation Time.
	Swaps are valued based on custom valuations furnished by an independent pricing service. Swaps for which prices are not available from an independent pricing service are valued in accordance with procedures established by the Fund’s Board of Directors.
	Other derivative or contractual type instruments shall be valued using market prices if such instruments trade on an exchange or market. If such instruments do not trade on an exchange or market, such instruments shall be valued at a price at which the counterparty to such contract would repurchase the instrument. In the event that the counterparty cannot provide a price, such valuation may be determined in accordance with procedures established by the Fund’s Board of Directors.
c)	Indexed Securities — The Fund may invest in indexed securities whose values are linked to changes in interest rates, indices, or other underlying instruments. The Fund uses these securities to increase or decrease its exposure to different underlying instruments and to gain exposure to markets that might be difficult to invest in using conventional securities. Indexed securities may be more volatile than their underlying instruments, but any loss is limited to the amount of the original investment and there may be a limit to the potential appreciation of the investment. The Fund had investments in indexed securities as of April 30, 2009, as shown on the Schedule of Investments under Exchange Traded Funds.
d)	Fund Share Valuation and Dividend Distributions to Shareholders — Orders for the Fund’s shares are executed in accordance with the investment instructions of the shareholders. The NAV of the Fund’s shares is determined as of the close of each business day of the Exchange. The NAV is determined separately for each class of the Fund by dividing the Fund’s net assets attributable to that class by the number of shares of the class outstanding. Orders for the purchase of the Fund’s shares prior to the close of the Exchange on any day on which the Exchange is open for business are priced at the NAV determined as of the close of the Exchange. Orders after the close of the Exchange, or on a day on which the Exchange and/or the Fund is not open for business, are priced at the next determined NAV.
	The Fund intends to distribute substantially all of its net investment income and net realized capital gains to shareholders no less frequently than once a year. Normally, dividends from net investment income of the Fund are declared and paid annually. Dividends are paid on shares beginning on the business day after the day when the funds used to purchase the shares are collected by the transfer agent for the Fund. Long-term capital gains distributions received from underlying funds are distributed at least annually, when required. Unless shareholders specify otherwise, all dividends and distributions will be automatically reinvested in additional full or fractional shares of the Fund.

10

	Distributions from net investment income, realized capital gains and capital are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP with respect to character and timing. These differences include but are not limited to foreign currency gains and losses, losses deferred due to wash sales adjustments, adjustments related to Passive Foreign Investment Companies and certain derivatives, and excise tax regulations. Permanent book and federal income tax basis differences relating to shareholder distributions will result in reclassifications to certain of the Fund’s capital accounts (see Federal Income Taxes: Reclassification of Capital Accounts footnote).
e)	Use of Estimates — The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and the reported amounts of income and expenses during the period. Operating results in the future could vary from the amounts derived from management’s estimates.
f)	Financial Accounting Standards Board Financial Accounting Standards No. 157 — Effective November 1, 2008, the Fund adopted Financial Accounting Standards Board (“FASB”) Statement of Financial Accounting Standards No. 157, “Fair Value Measurements” (“FAS 157”). This standard clarifies the definition of fair value for financial reporting, establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements. Fair value is defined under FAS 157 as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Under FAS 157, a fair value measurement should reflect all of the assumptions that market participants would use in pricing the asset or liability, including assumptions about the risk inherent in a particular valuation technique, the effect of a restriction on the sale or use of an asset, and the risk of nonperformance.
	Various inputs are used in determining the value of the Fund’s investment. These inputs are summarized, per FAS 157, into three broad hierarchy levels. This hierarchy is based on whether the valuation inputs are observable or unobservable. These levels are:

• Level 1 — Quoted prices in active markets for identical securities. Level 1 includes exchange-traded instruments such as domestic equities, some foreign equities, options, futures, mutual funds, ETF’s, and rights and warrants.

• Level 2 — Observable inputs other than Level 1 prices, such as quoted prices for similar securities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the security. Level 2 includes debt securities that are traded less frequently than exchange-traded instruments and that are valued using third party pricing services and foreign equities, whose value is determined using a multi-factor regression model with inputs that are observable in the market; and money market instruments, which are carried at amortized cost.

• Level 3 — Significant unobservable inputs that are supported by little or no market activity. Level 3 includes financial instruments whose values are determined using broker quotes and require significant management judgment or estimation. This category includes broker quoted securities, long dated OTC options and securities where trading has been halted or there are certain restrictions on trading. While these securities are priced using unobservable inputs, the valuation of these securities reflects the best available data and management believes the prices are a good representation of exit price.

Individual securities within any of the above mentioned asset classes may be assigned a different hierarchical level than those presented above, as individual circumstances dictate.

FAS 157 also requires that a roll forward reconciliation be shown for all Level 3 securities from the beginning of the reporting period to the end of the reporting period. Part of this reconciliation includes transfers in and/or out of Level 3. For purposes of this reconciliation, transfers in are shown at the end of period fair value and transfers out are shown at

11

The Hartford Growth Allocation Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

	the beginning of period fair value. During the six-month period ended April 30, 2009, the Fund held no Level 3 securities.
	FASB Staff Position No. 157-4 — In April 2009, FASB released FASB Staff Position No. 157-4, “Determining Fair Value When the Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly” (“FSP FAS 157-4”). FSP FAS 157-4 provides additional guidance on determining whether a market for a financial asset is not active and a transaction is not distressed when measuring fair value under FAS 157. The FSP also requires additional disclosure detail on debt and equity securities by major investment categories. FSP FAS 157-4 is effective for interim and annual periods ending after June 15, 2009. At this time, management is evaluating the implications of FSP FAS 157-4 and does not believe it will impact valuation but will require additional disclosure. This additional disclosure has not yet been implemented.
g)	Financial Accounting Standards Board Financial Accounting Standards No. 161 — In March 2008, the FASB released Statement of Financial Accounting Standards No. 161, “Disclosures about Derivative Instruments and Hedging Activities” (“FAS 161”). FAS 161 requires companies to disclose information detailing the objectives and strategies for using derivative instruments, the level of derivative activity entered into by the company and any credit risk-related contingent features of the agreements. The application of FAS 161 is required for fiscal years and interim periods beginning after November 15, 2008. At this time, management is evaluating the implications of FAS 161 and has not yet implemented the new disclosure standard.
h)	Indemnifications: Under the Company’s organizational documents, the Company shall indemnify its officers and directors to the full extent required or permitted under Maryland General Corporation Law and the federal securities law. In addition, the Company, on behalf of the Fund, may enter into contracts that contain a variety of indemnifications. The Company’s maximum exposure under these arrangements is unknown. However, the Company has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote.

3. Federal Income Taxes:

a)

Federal Income Taxes — For federal income tax purposes, the Fund intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code (“IRC”) by distributing substantially all of its taxable net investment income and net realized capital gains to its shareholders and otherwise complying with the requirements of regulated investment companies. The Fund has distributed substantially all of its income and capital gains in prior years and the Fund intends to distribute substantially all of its income and gains during the calendar year ending December 31, 2009. Accordingly, no provision for federal income or excise taxes has been made in the accompanying financial statements. Distributions from short-term capital gains are treated as ordinary income distributions for federal income tax purposes.

b)

The tax character of distributions paid by the Fund for the periods indicated is as follows (as adjusted for dividends payable):

	For the Year Ended		For the Year Ended
	October 31, 2008		October 31, 2007
Ordinary Income	$	31,057	$	11,270
Long-Term Capital Gains *		46,273		14,424

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

12

As of October 31, 2008, the Fund’s components of distributable earnings (deficit) on a tax basis were as follows:

	Amount
Undistributed Ordinary Income	$	3,277
Undistributed Long-Term Capital Gain	$	12,856
Unrealized Depreciation*	$	(229,641	)
Total Accumulated Deficit	$	(213,508	)

* The differences between book-basis and tax-basis unrealized appreciation (depreciation) are attributable to the tax deferral of wash sales losses, the mark-to-market adjustment for certain derivatives in accordance with IRC Sec. 1256, the mark to market for Passive Foreign Investment Companies and basis differences in real estate investment trusts.

c)

Reclassification of Capital Accounts — In accordance with American Institute of Certified Public Accountants (AICPA) Statement of Position 93-2, Determination, Disclosure, and Financial Statement Presentation of Income, Capital Gain, and Return of Capital Distributions by Investment Companies, the Fund has recorded reclassifications in its capital accounts. These reclassifications had no impact on the NAV of the Fund. The reclassifications are a result of permanent differences between GAAP and tax accounting for such items as net operating losses that reduce distribution requirements. Adjustments are made to reflect the impact these items have on current and future distributions to shareholders. Therefore, the source of the Fund’s distributions may be shown in the accompanying Statement of Changes in Net Assets as from net investment income, from net realized gains on investments or from capital depending on the type of book and tax differences that exist. As of October 31, 2008, the Fund recorded reclassifications to increase undistributed net investment income by $24,055 and decrease accumulated net realized loss by $24,055.

d)

Financial Accounting Standards Board Interpretation No. 48 — On July 13, 2006, the FASB released FASB Interpretation No. 48 “Accounting for Uncertainty in Income Taxes” (“FIN 48”). FIN 48 provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. The Fund adopted FIN 48 for fiscal years beginning after December 15, 2006. Management has evaluated the implications of FIN 48 for all open tax years (tax years ended October 31, 2006 — 2008) and has determined there is no impact to the Fund’s financial statements.

4. Expenses:

a)

Investment Management Agreements — Hartford Investment Financial Services, LLC (“HIFSCO”) serves as investment manager to the Fund pursuant to an Investment Management Agreement with The Hartford Mutual Funds, Inc. As investment manager, HIFSCO has overall investment supervisory responsibility for the Fund. In addition, HIFSCO provides administrative personnel, services, equipment, facilities and office space for proper operation of the Fund. HIFSCO has contracted with Hartford Investment Management for the provision of day-to-day investment management services to the Fund in accordance with the Fund’s investment objective and policies. The Fund pays a fee to HIFSCO, a portion of which may be used to compensate Hartford Investment Management.

The schedule below reflects the rates of compensation paid to HIFSCO for investment management services rendered during the six-month period ended April 30, 2009; the rates are accrued daily and paid monthly:

Average Daily Net Assets	Annual Fee
On first $500 million		0.15	%
On next $4.5 billion		0.10	%
On next $5 billion		0.08	%
Over $10 billion		0.07	%

13

The Hartford Growth Allocation Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

b) Accounting Services Agreement — Pursuant to the Fund Accounting Agreement between Hartford Life Insurance Company (“HLIC”) and the Fund, HLIC provides accounting services to the Fund and receives monthly compensation on the Fund’s average net assets. The Fund’s accounting service fees are accrued daily and paid monthly.

Average Daily Net Assets	Annual Fee
On first $5 billion		0.012	%
Over $5 billion		0.010	%

c) Operating Expenses — Allocable expenses incurred by the Company are allocated to each Fund and allocated to classes within the Fund in proportion to the average daily net assets of the Fund and each class, except where allocation of certain expenses is more fairly made directly to the Fund or to specific classes within a Fund. During the six-month period ended April 30, 2009, HIFSCO has contractually limited the total operating expenses of this Fund, exclusive of taxes, interest expense, brokerage commissions, certain distribution expenses and extraordinary expenses as follows:

Class A	Class B	Class C	Class I	Class R3	Class R4	Class R5
1.50%	2.25%	2.25%	1.25%	1.81%	1.51%	1.21%

	Voluntary limitations for total operating expenses include expenses incurred as the result of investing in other investment companies. Amounts incurred which exceed the above limits are deducted from expenses and are reported as waivers on the accompanying Statement of Operations.
d)	Distribution and Service Plan for Class A, B, C, R3 and R4 Shares — HIFSCO is the principal underwriter and distributor of the Fund. HIFSCO is engaged in distribution activities, which include marketing and distribution of shares through broker-dealers, financing distribution costs and maintaining financial books and records. For the six-month period ended April 30, 2009, HIFSCO received front-end load sales charges of $894 and contingent deferred sales charges of $144 from the Fund.
	The Fund has adopted Distribution and Service Plans in accordance with Rule 12b-1 of the Investment Company Act of 1940, as amended, to compensate the distributor (HIFSCO) for activities intended to result in the sale and distribution of Classes A, B, C, R3 and R4 shares and for providing services for shareholders. The Rule 12b-1 plan applicable to Class A shares of the Funds provides for payment of a Rule 12b-1 fee of up to 0.35% of average daily net assets; however, the Board of Directors has currently authorized 12b-1 payments of only up to 0.25%. Some or all of the fee may be used for shareholder servicing expenses with the remainder used for distribution expenses. Some or the entire Rule 12b-1 fee for Class B shares may be remitted to broker-dealers for distribution and/or shareholder account services. Under the Class B Plan, the Fund pays the distributor 1.00% of the average daily net assets of Class B shares that are outstanding for 8 years or less, 0.25% of which is a fee for services provided to existing shareholders with the remainder used for distribution expenses. After eight years, Class B shares convert to Class A shares. Upon conversion to Class A shares, the Class A plan described above will apply to those shares. Under the Class C Plan, the Fund pays the distributor 1.00% of the average daily net assets of Class C shares outstanding, 0.25% of which is intended as a fee for services provided to existing shareholders with the remainder used for distribution expenses. For Class C shares, some or the entire fee may be remitted to broker-dealers for distribution and/or shareholder account services. Class R3 shares have a distribution fee of 0.50% and Class R4 shares have a distribution fee of 0.25%. For Classes R3 and R4 shares, some or the entire fee may be remitted to broker dealers for distribution and/or shareholder account services. The Fund’s 12b-1 fees are accrued daily and paid monthly.
	For the six-month period ended April 30, 2009, total sales commissions paid to affiliated brokers/dealers of The Hartford for distributing the Fund’s shares were $60. These commissions are in turn paid to sales representatives of the broker/dealers.

14

e) Other Related Party Transactions — Certain officers of the Fund are directors and/or officers of HIFSCO and/or The Hartford or its subsidiaries. For the six-month period ended April 30, 2009, a portion of the Fund’s chief compliance officer’s salary was paid by the Fund in the amount of $1. Hartford Administrative Services Company (“HASCO”), an indirect wholly owned subsidiary of The Hartford, provides transfer agent services to the Fund. HASCO was compensated $633 for providing such services. These fees are accrued daily and paid monthly.

5.	Investment Transactions:
	For the six-month period ended April 30, 2009, the Fund’s aggregate purchases and sales of investment securities (excluding short-term investments) were as follows:

	Amount
Cost of Purchases Excluding U.S. Government Obligations	$	22,894
Sales Proceeds Excluding U.S. Government Obligations		37,141

6.	Capital Share Transactions:
	The following information is for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	For the Six-Month Period Ended April 30, 2009												For the Year Ended October 31, 2008
			Shares					Shares							Shares					Shares
			Issued for					Issued		Net Increase					Issued for					Issued		Net Increase
	Shares		Reinvested		Shares			from		(Decrease) of			Shares		Reinvested		Shares			from		(Decrease) of
	Sold		Dividends		Redeemed			Merger		Shares			Sold		Dividends		Redeemed			Merger		Shares
Class A
Shares		5,116		1,811		(6,545	)		—		382			8,156		3,356		(7,836	)		—		3,676
Amount	$	39,217	$	13,786	$	(48,787	)	$	—	$	4,216		$	95,331	$	43,714	$	(88,553	)	$	—	$	50,492
Class B
Shares		691		372		(1,260	)		—		(197	)		1,707		883		(1,974	)		—		616
Amount	$	5,210	$	2,803	$	(9,339	)	$	—	$	(1,326	)	$	20,111	$	11,427	$	(22,147	)	$	—	$	9,391
Class C
Shares		1,879		587		(3,329	)		—		(863	)		4,885		1,351		(5,357	)		—		879
Amount	$	14,285	$	4,415	$	(24,673	)	$	—	$	(5,973	)	$	56,954	$	17,474	$	(59,767	)	$	—	$	14,661
Class I
Shares		32		8		(15	)		—		25			122		6		(30	)		—		98
Amount	$	249	$	63	$	(113	)	$	—	$	199		$	1,352	$	75	$	(338	)	$	—	$	1,089
Class R3
Shares		55		—		(4	)		—		51			3		—		(1	)		—		2
Amount	$	409	$	2	$	(33	)	$	—	$	378		$	30	$	5	$	(7	)	$	—	$	28
Class R4
Shares		460		34		(114	)		—		380			707		9		(174	)		—		542
Amount	$	3,567	$	253	$	(802	)	$	—	$	3,018		$	8,547	$	120	$	(1,950	)	$	—	$	6,717
Class R5
Shares		149		19		(60	)		—		108			320		5		(40	)		—		285
Amount	$	1,126	$	144	$	(406	)	$	—	$	864		$	3,486	$	65	$	(468	)	$	—	$	3,083

The following reflects the conversion of Class B Shares into Class A Shares (reflected as Class A Shares issued and Class B shares redeemed) for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	Shares		Dollars
For the Six-Month Period Ended April 30, 2009		75	$	562
For the Year Ended October 31, 2008		110	$	1,271

15

The Hartford Growth Allocation Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

7.

Line of Credit:

The Fund is one of several Hartford Funds that participate in a $500 million committed revolving line of credit facility. The facility is to be used for temporary or emergency purposes. Under the arrangement, the Fund is required to own securities having a market value in excess of 300% of the total bank borrowings. The interest rate on borrowings varies depending on the nature of the loan. The facility also requires a fee to be paid based on the amount of the commitment. During the six-month period ended April 30, 2009, the Fund did not have any borrowings under this facility.

16

The Hartford Growth Allocation Fund

Financial Highlights — (Unaudited)

	— Selected Per-Share Data — (a)																														— Ratios and Supplemental Data —
																																			Ratio of			Ratio of			Ratio of
																																			Expenses			Expenses			Expenses
																																			to Average			to Average			to Average
																																			Net Assets			Net Assets			Net Assets
																																			Before			After			After
								Net																											Waivers			Waivers			Waivers
								Realized																											and			and			and
								and Un-									Distrib-								Net										Reimburse-			Reimburse-			Reimburse-			Ratio of
			Net			Pay-		realized						Dividends			utions								Increase			Net					Net		ments and			ments and			ments and			Net Invest-			Port-
	Net Asset		Invest-			ments		Gain						from Net			from			Distri-					(Decrease)			Asset					Assets at		Including			Including			Excluding			ment			folio
	Value at		ment			from		(Loss) on			Total from			Invest-			Realized			butions		Total			in Net			Value at					End of		Expenses			Expenses			Expenses			Income to			Turn-
	Beginning		Income			(to)		Invest-			Investment			ment			Capital			from		Distri-			Asset			End of		Total			Period		not Subject			not Subject			not Subject			Average			over
Class	of Period		(Loss)			Affiliate		ments			Operations			Income			Gains			Capital		butions			Value			Period		Return(b)			(000's)		to Cap(c)			to Cap(c)			to Cap(c)			Net Assets			Rate(d)
For the Six-Month Period Ended April 30, 2009 (Unaudited) (e)
A	$	8.58	$	0.10		$	—	$	(0.28	)	$	(0.18	)	$	(0.17	)	$	(0.19	)	$	—	$	(0.36	)	$	(0.54	)	$	8.04		(1.75)	%(f)	$	311,412		0.72	%(g)		0.68	%(g)		0.68	%(g)		2.71	%(g)		4	%
B		8.48		0.07			—		(0.27	)		(0.20	)		(0.08	)		(0.19	)		—		(0.27	)		(0.47	)		8.01		(2.08	) (f)		83,082		1.56	(g)		1.40	(g)		1.40	(g)		1.99	(g)		—
C		8.48		0.07			—		(0.27	)		(0.20	)		(0.09	)		(0.19	)		—		(0.28	)		(0.48	)		8.00		(2.13	) (f)		133,165		1.47	(g)		1.43	(g)		1.43	(g)		1.98	(g)		—
I		8.57		0.11			—		(0.27	)		(0.16	)		(0.22	)		(0.19	)		—		(0.41	)		(0.57	)		8.00		(1.60	) (f)		1,424		0.31	(g)		0.31	(g)		0.31	(g)		2.95	(g)		—
R3		8.51		0.03			—		(0.22	)		(0.19	)		(0.15	)		(0.19	)		—		(0.34	)		(0.53	)		7.98		(1.92	) (f)		455		1.20	(g)		0.90	(g)		0.90	(g)		0.91	(g)		—
R4		8.56		0.09			—		(0.27	)		(0.18	)		(0.19	)		(0.19	)		—		(0.38	)		(0.56	)		8.00		(1.82	) (f)		7,547		0.64	(g)		0.64	(g)		0.64	(g)		2.38	(g)		—
R5		8.60		0.11			—		(0.28	)		(0.17	)		(0.21	)		(0.19	)		—		(0.40	)		(0.57	)		8.03		(1.62	) (f)		3,585		0.34	(g)		0.34	(g)		0.34	(g)		2.85	(g)		—
For the Year Ended October 31, 2008
A		14.51		0.14			—		(4.81	)		(4.67	)		(0.47	)		(0.79	)		—		(1.26	)		(5.93	)		8.58		(35.00	)		329,312		0.59			0.59			0.59			1.06			13
B		14.37		0.03			—		(4.74	)		(4.71	)		(0.39	)		(0.79	)		—		(1.18	)		(5.89	)		8.48		(35.52	)		89,717		1.41			1.41			1.41			0.26			—
C		14.37		0.04			—		(4.75	)		(4.71	)		(0.39	)		(0.79	)		—		(1.18	)		(5.89	)		8.48		(35.50	)		148,584		1.34			1.34			1.34			0.34			—
I		14.49		0.37			—		(4.98	)		(4.61	)		(0.52	)		(0.79	)		—		(1.31	)		(5.92	)		8.57		(34.75	)		1,310		0.23			0.23			0.23			0.97			—
R3		14.46		0.18			—		(4.87	)		(4.69	)		(0.47	)		(0.79	)		—		(1.26	)		(5.95	)		8.51		(35.32	)		49		1.06			1.06			1.06			0.34			—
R4		14.51		0.43			—		(5.08	)		(4.65	)		(0.51	)		(0.79	)		—		(1.30	)		(5.95	)		8.56		(34.95	)		4,825		0.59			0.59			0.59			0.17			—
R5		14.54		0.46			—		(5.09	)		(4.63	)		(0.52	)		(0.79	)		—		(1.31	)		(5.94	)		8.60		(34.78	)		2,917		0.30			0.30			0.30			0.63			—
For the Year Ended October 31, 2007
A		12.66		0.14			—		2.23			2.37			(0.24	)		(0.28	)		—		(0.52	)		1.85			14.51		19.35			503,345		0.60			0.60			0.60			0.93			39
B		12.57		0.04			—		2.21			2.25			(0.17	)		(0.28	)		—		(0.45	)		1.80			14.37		18.40			143,140		1.41			1.32			1.32			0.22			—
C		12.57		0.05			—		2.20			2.25			(0.17	)		(0.28	)		—		(0.45	)		1.80			14.37		18.44			238,997		1.34			1.31			1.31			0.25			—
I		12.67		0.26			—		2.14			2.40			(0.30	)		(0.28	)		—		(0.58	)		1.82			14.49		19.71			804		0.23			0.23			0.23			0.58			—
R3(h)		12.59		(0.02	)		—		1.89			1.87			—			—			—		—			1.87			14.46		14.85	(f)		53		0.95	(g)		0.93	(g)		0.93	(g)		(0.26	) (g)		—
R4(i)		12.59		—			—		1.92			1.92			—			—			—		—			1.92			14.51		15.25	(f)		325		0.66	(g)		0.65	(g)		0.65	(g)		(0.01	) (g)		—
R5(j)		12.59		—			—		1.95			1.95			—			—			—		—			1.95			14.54		15.49	(f)		782		0.38	(g)		0.38	(g)		0.38	(g)		0.25	(g)		—
For the Year Ended October 31, 2006
A		11.27		0.07			—		1.46			1.53			(0.13	)		(0.01	)		—		(0.14	)		1.39			12.66		13.64			370,088		0.69			0.67			0.67			0.49			13
B		11.19		0.03			—		1.42			1.45			(0.06	)		(0.01	)		—		(0.07	)		1.38			12.57		12.96			107,818		1.51			1.32			1.32			(0.15	)		—
C		11.19		0.03			—		1.42			1.45			(0.06	)		(0.01	)		—		(0.07	)		1.38			12.57		12.96			181,434		1.44			1.32			1.32			(0.16	)		—
I(k)		12.16		(0.01	)		—		0.52			0.51			—			—			—		—			0.51			12.67		4.19	(f)		10		0.66	(g)		0.42	(g)		0.42	(g)		0.16	(g)		—
For the Year Ended October 31, 2005
A		10.36		0.05			—		0.89			0.94			(0.03	)		—			—		(0.03	)		0.91			11.27		9.12			205,331		0.72			0.64			0.64			0.42			1
B		10.34		(0.01	)		—		0.87			0.86			(0.01	)		—			—		(0.01	)		0.85			11.19		8.37			65,739		1.53			1.29			1.29			(0.23	)		—
C		10.33		(0.01	)		—		0.88			0.87			(0.01	)		—			—		(0.01	)		0.86			11.19		8.47			100,339		1.47			1.29			1.29			(0.23	)		—
From (commencement of operations) May 28, 2004, through October 31, 2004
A(l)		10.00		—			—		0.36			0.36			—			—			—		—			0.36			10.36		3.60	(f)		43,279		0.72	(g)		0.63	(g)		0.63	(g)		0.13	(g)		—
B(m)		10.00		(0.01	)		—		0.35			0.34			—			—			—		—			0.34			10.34		3.40	(f)		14,177		1.52	(g)		1.28	(g)		1.28	(g)		(0.53	) (g)		—
C(n)		10.00		(0.01	)		—		0.34			0.33			—			—			—		—			0.33			10.33		3.30	(f)		21,221		1.44	(g)		1.28	(g)		1.28	(g)		(0.52	) (g)		—

(a)	Information presented relates to a share outstanding throughout the indicated period.
(b)	Assumes initial investment at net asset value at the beginning of each period, reinvestment of all distributions, the complete redemption of the investment at net asset value at the end of each period and no sales charge. Total return would be reduced if sales charges were taken into account.
(c)	Expense ratios do not include expenses of the Underlying Funds.
(d)	Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between the classes of shares issued.
(e)	Per share amounts have been calculated using average shares outstanding method.
(f)	Not annualized.
(g)	Annualized.
(h)	Commenced operations on December 22, 2006.
(i)	Commenced operations on December 22, 2006.
(j)	Commenced operations on December 22, 2006.
(k)	Commenced operations on August 31, 2006.
(l)	Commenced operations on May 28, 2004.
(m)	Commenced operations on May 28, 2004.
(n)	Commenced operations on May 28, 2004.

17

The Hartford Growth Allocation Fund

Directors and Officers (Unaudited)

The Board of Directors appoints officers who are responsible for the day-to-day operations of the Fund and who execute policies formulated by the Directors. Each director serves until his or her death, resignation, or retirement or until the next annual meeting of shareholders is held or until his or her successor is elected and qualifies.

Directors and officers who are employed by or who have a financial interest in The Hartford are considered “interested” persons of the Fund pursuant to the Investment Company Act of 1940, as amended. Each officer and three of the Fund’s directors, as noted in the chart below, are “interested” persons of the Fund. Each director serves as a director for The Hartford Mutual Funds, Inc., The Hartford Mutual Funds II, Inc., The Hartford Income Shares Fund, Inc., Hartford Series Fund, Inc., and Hartford HLS Series Fund II, Inc., which collectively consist of 100 funds. Correspondence may be sent to directors and officers c/o Hartford Mutual Funds, P.O. Box 2999, Hartford, Connecticut 06104-2999, except that correspondence to Ms. Fagely may be sent to 500 Bielenberg Drive, Woodbury, Minnesota 55125.

The table below sets forth, for each director and officer, his or her name, year of birth, current position with the Fund and date first elected or appointed to The Hartford Mutual Funds, Inc. (“MF”) and The Hartford Mutual Funds II, Inc. (“MF2”), principal occupation, and, for directors, other directorships held. The Fund’s statement of additional information contains further information on the directors and is available free of charge by calling 1-888-843-7824 or writing to Hartford Mutual Funds, P.O. Box 64387, St. Paul, MN 55164-0387.

Information on the aggregate remuneration paid to the directors of the Fund can be found in the Statement of Operations herein. The Fund pays a portion of the Chief Compliance Officer’s compensation, but does not pay salaries or compensation to any of its officers or directors who are employed by The Hartford.

Non-Interested Directors

Lynn S. Birdsong (1946) Director since 2003, Co-Chairman of the Investment Committee

Mr. Birdsong is a private investor. Since 1981, Mr. Birdsong has been a partner in Birdsong Company, an advertising specialty firm. Since 2003, Mr. Birdsong has been an independent director of The Japan Fund. From 2003 to March 2005, Mr. Birdsong was an independent director of the Atlantic Whitehall Funds. From 1979 to 2002, Mr. Birdsong was a managing director of Zurich Scudder Investments, an investment management firm. During his employment with Scudder, Mr. Birdsong was an interested director of The Japan Fund.

Robert M. Gavin, Jr. (1940) Director since 2002 (MF) and 1986 (MF2), Chairman of the Board since 2004

Dr. Gavin is an educational consultant. Prior to September 1, 2001, he was President of Cranbrook Education Community and prior to July 1996, he was President of Macalester College, St. Paul, Minnesota.

Duane E. Hill (1945) Director since 2001 (MF) and 2002 (MF2), Chairman of the Nominating Committee

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

Sandra S. Jaffee (1941) Director since 2005

Ms. Jaffee is Chairman and Chief Executive Officer of Fortent (formerly Searchspace Group), a leading provider of compliance/regulatory technology to financial institutions. Ms. Jaffee served as an Entrepreneur in Residence with Warburg Pincus, a private equity firm, from August 2004 to August 2005. From September 1995 to July 2004, Ms. Jaffee served as Executive Vice President at Citigroup, where she was President and Chief Executive Officer of Citibank’s Global Securities Services (1995-2003).

William P. Johnston (1944) Director since 2005, Chairman of the Compliance Committee

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

18

Phillip O. Peterson (1944) Director since 2002 (MF) and 2000 (MF2), Chairman of the Audit Committee

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

Lemma W. Senbet (1946) Director since 2005

Dr. Senbet is the William E. Mayer Chair Professor of Finance at the University of Maryland, Robert H. Smith School of Business. He was chair of the Finance Department during 1998-2006. Previously he was an endowed professor of finance at the University of Wisconsin-Madison. Also, he was director of the Fortis Funds from March 2000-July 2002. Dr. Senbet served the finance profession in various capacities, including as director of the American Finance Association and President of the Western Finance Association. In 2006, Dr. Senbet was inducted Fellow of Financial Management Association International for his career-long distinguished scholarship and professional service.

Interested Directors and Officers

Thomas M. Marra* (1958) Director since 2002

Mr. Marra has served as President and Chief Operating Officer of The Hartford Financial Services Group, Inc. (“The Hartford”) since 2007. Mr. Marra currently serves as Director of Hartford Life, Inc. (“HL, Inc.”). Mr. Marra served as Chief Operating Officer of Hartford Life Insurance Company, Inc. (“Hartford Life”) (2000-2008), as President of Hartford Life (2002-2008) and as Director of Hartford Life’s Investment Products Division from 1998 to 2000.

* On February 24, 2009, The Hartford and Mr. Marra determined to enter into a mutually agreed separation whereby Mr. Marra will retire, and his role as an executive officer and employee of The Hartford will terminate, effective July 3, 2009. Mr. Marra will resign his position as a Director of the Fund effective June 25, 2009.

Lowndes A. Smith (1939) Director since 2002, Co-Chairman of the Investment Committee

Mr. Smith served as Vice Chairman of The Hartford from February 1997 to January 2002, as President and Chief Executive Officer of Hartford Life, Inc. from February 1997 to January 2002, and as President and Chief Operating Officer of The Hartford Life Insurance Companies from January 1989 to January 2002. Mr. Smith serves as a Director of White Mountains Insurance Group, Ltd., One Beacon Insurance, Symetra Financial and as a Managing Director of Whittington Gray Associates.

John C. Walters* (1962) Director since 2008

Mr. Walters currently serves as Chief Executive Officer, President and Director of HL, Inc. Mr. Walters previously served as President of the U.S. Wealth Management Division of Hartford Life, Inc., as Co-Chief Operating Officer of Hartford Life Insurance Company (2007-2008) and as Executive Vice President and Director of its Investment Products Division (2000-2008). Mr. Walters also serves as Chairman of the Board, Chief Executive Officer, President and Director of Hartford Life Insurance Company and as Executive Vice President of The Hartford. In addition, Mr. Walters is Manager of HL Investment Advisors, LLC (“HL Advisors”).

* Mr. Walters previously served as President and Chief Executive Officer of the Fund (2007 — 2009).

Other Officers

Robert M. Arena, Jr. (1968) President and Chief Executive Officer since 2009 (served as Vice President of the Fund (2006 — 2009))

Mr. Arena serves as Executive Vice President of Hartford Life Insurance Company, (“Hartford Life”). Additionally, Mr. Arena is Director and Senior Vice President of Hartford Administrative Services Company, (“HASCO”), Manager, Chief Executive Officer and President of Hartford Investment Financial Services, LLC (“HIFSCO”) and HL Advisors. Prior to joining The Hartford in 2004, he was Senior Vice President in charge of Product Management for American Skandia/Prudential in the individual annuities division. Mr. Arena joined American Skandia in 1996.

Tamara L. Fagely (1958) Vice President, Treasurer and Controller since 2002 (MF) 1993 (MF2)

Ms. Fagely has been a Vice President of HASCO since 1998 and Chief Financial Officer since 2006. Currently Ms. Fagely is a Vice President of Hartford Life. She served as Assistant Vice President of Hartford Life from December 2001 through March 2005. In addition, Ms. Fagely is Controller and Chief Financial Officer of HIFSCO.

Brian Ferrell (1962) AML Compliance Officer since 2008

Mr. Ferrell has served as Assistant Vice President and AML Compliance Officer for The Hartford since 2006 and as AML Compliance Officer for HASCO and Hartford Investor Services Company, LLC (“HISC”) since 2008. Prior to joining The Hartford in 2006, Mr. Ferrell held various positions at the U.S. Department of the Treasury, (the “Treasury”), from 2001 to 2006 where he served as Chief Counsel for the Treasury’s Financial Crimes Enforcement Network, (“FinCEN”) from 2005 — 2006.

19

The Hartford Growth Allocation Fund
Directors and Officers (Unaudited) — (continued)

Thomas D. Jones, III (1965) Vice President and Chief Compliance Officer since 2006

Mr. Jones serves as Chief Compliance Officer for the Hartford Mutual Funds and Vice President and Director of Securities Compliance for The Hartford. He is also Vice President of HIFSCO, HL Advisors, and Hartford Life Insurance Company. Mr. Jones joined The Hartford in 2006 from SEI Investments, where he served as Chief Compliance Officer for its mutual funds and investment advisers. Prior to joining SEI, Mr. Jones was First Vice President and Compliance Director for Merrill Lynch Investment Managers (Americas) (“MLIM”), where he worked from 1992-2004. At MLIM, Mr. Jones was responsible for the compliance oversight of various investment products, including mutual funds, wrap accounts, institutional accounts and alternative investments.

Edward P. Macdonald (1967) Vice President, Secretary and Chief Legal Officer since 2005

Mr. Macdonald serves as Assistant General Counsel and Assistant Vice President of The Hartford and Chief Legal Officer and Vice President of HIFSCO. He also serves as Vice President and Secretary of HASCO, Assistant Vice President of Hartford Life, and Chief Legal Officer, Secretary and Vice President of HL Advisors. Prior to joining The Hartford in 2005, Mr. Macdonald was Chief Counsel, Investment Management for Prudential Financial (formerly American Skandia Investment Services, Inc.). He joined Prudential in April 1999.

Vernon J. Meyer (1964) Vice President since 2006

Mr. Meyer serves as Senior Vice President of Hartford Life and as Director of its Investment Advisory Group in the Individual Markets Group segment. He also serves as Senior Vice President of HIFSCO and HL Advisors. Prior to joining The Hartford in 2004, Mr. Meyer was with MassMutual which he joined in 1987.

D. Keith Sloane (1960) Vice President since 2009

Mr. Sloane is a Senior Vice President of Hartford Life where he serves as Director of mutual fund product management for The Hartford’s mutual funds and 529 college savings businesses. Additionally, Mr. Sloane currently serves as Senior Vice President of HIFSCO, HL Advisors, and HASCO. Prior to joining The Hartford in 2007, Mr. Sloane was Director of product marketing and led the mutual fund business for Wachovia Securities (“Wachovia”) in their investment products group. Mr. Sloane joined Wachovia in 1995.

Jane Wolak (1961) Vice President since 2009

Ms. Wolak currently serves as Vice President of Hartford Life. Ms. Wolak joined Hartford Life as Vice President, Retail Product Services in May 2007. She is also Vice President of HASCO. Previously, Ms. Wolak was with Sun Life Financial where she held the position of Vice President, Service Center Operations from 2001 — 2007.

HOW TO OBTAIN A COPY OF THE FUND’S PROXY VOTING POLICIES AND VOTING RECORDS

A description of the policies and procedures that the Fund uses to determine how to vote proxies relating to portfolio securities and a record of how the Fund voted any proxies for the twelve-month period ended June 30, 2008 is available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov.

QUARTERLY PORTFOLIO HOLDINGS INFORMATION

The Fund files a complete schedule of portfolio holdings with the Commission for the first and third quarters of each fiscal year on Form N-Q. The Fund’s Forms are available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov. The Form N-Q may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330.

20

The Hartford Growth Allocation Fund

Expense Example (Unaudited)

Your Fund’s Expenses

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments and contingent deferred sales charges (CDSC) (2) ongoing costs including management fees; distribution fees; and other fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the period of October 31, 2008 through April 30, 2009.

Actual Expenses

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

Hypothetical Example for Comparison Purposes

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

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads) and CDSC. Therefore, the second line 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 are equal to the Fund’s annualized expense ratios multiplied by average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

	Actual return						Hypothetical (5% return before expenses)
					Expenses paid						Expenses paid					Days in
					during the period						during the period					the		Days
	Beginning		Ending Account		October 31, 2008		Beginning		Ending Account		October 31,		Annualized			current		in the
	Account Value		Value		through		Account Value		Value		2008 through		expense			1/2		full
	October 31, 2008		April 30, 2009		April 30, 2009		October 31, 2008		April 30, 2009		April 30, 2009		ratio			year		year
Class A	$	1,000.00	$	982.45	$	3.34	$	1,000.00	$	1,021.42	$	3.40		0.68	%		181		365
Class B	$	1,000.00	$	979.19	$	6.87	$	1,000.00	$	1,017.85	$	7.00		1.40			181		365
Class C	$	1,000.00	$	978.72	$	7.01	$	1,000.00	$	1,017.70	$	7.15		1.43			181		365
Class I.	$	1,000.00	$	984.04	$	1.52	$	1,000.00	$	1,023.25	$	1.55		0.31			181		365
Class R3	$	1,000.00	$	980.81	$	4.42	$	1,000.00	$	1,020.33	$	4.50		0.90			181		365
Class R4	$	1,000.00	$	981.83	$	3.14	$	1,000.00	$	1,021.62	$	3.20		0.64			181		365
Class R5	$	1,000.00	$	983.84	$	1.67	$	1,000.00	$	1,023.10	$	1.70		0.34			181		365

21

The Hartford High Yield Fund

Table of Contents

Manager Discussions (Unaudited)	2
Financial Statements
Schedule of Investments at April 30, 2009 (Unaudited)	4
Statement of Assets and Liabilities at April 30, 2009 (Unaudited)	10
Statement of Operations for the Six Month Period Ended April 30, 2009 (Unaudited)	11
Statement of Changes in Net Assets for the Six Month Period Ended April 30, 2009 (Unaudited) and the Year Ended October 31, 2008	12
Notes to Financial Statements (Unaudited)	13
Financial Highlights (Unaudited)	25
Directors and Officers (Unaudited)	26
How to Obtain a Copy of the Fund’s Proxy Voting Policies and Proxy Voting Records (Unaudited)	28
Quarterly Portfolio Holdings Information (Unaudited)	28
Expense Example (Unaudited)	29

The Hartford High Yield Fund

(subadvised by Hartford Investment Management Company)

Performance Overview(1) 4/30/99 — 4/30/09
Growth of a $10,000 investment in Class A which includes Sales Charge

Barclays Capital U. S. Corporate High Yield Bond Index is an unmanaged broad-based market value-weighted index that tracks the total return performance of non-investment grade, fixed-rate, publicly placed, dollar denominated and nonconvertible debt registered with the SEC.

You cannot invest directly in an index.

The value of shares will fluctuate so that, when redeemed, shares may be worth more or less than their original cost. The chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.

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

Investment objective — Seeks high current income. Growth of capital is a secondary objective.

Average Annual Total Returns(2,3,4) (as of 4/30/09)

	Inception		1			5			10			Since
	Date		Year			Year			Year			Inception
High Yield A#		9/30/98		-15.87	%		0.68	%		1.94	%		2.59	%
High Yield A##		9/30/98		-19.65	%		-0.25	%		1.47	%		2.14	%
High Yield B#		9/30/98		-16.36	%		-0.04	%	NA*			NA*
High Yield B##		9/30/98		-20.19	%		-0.33	%	NA*			NA*
High Yield C#		9/30/98		-16.54	%		0.00	%		1.24	%		1.88	%
High Yield C##		9/30/98		-17.31	%		0.00	%		1.24	%		1.88	%
High Yield I#		9/30/98		-15.49	%		0.83	%		2.02	%		2.66	%
High Yield R3#		9/30/98		-16.09	%		0.79	%		2.19	%		2.86	%
High Yield R4#		9/30/98		-15.84	%		0.93	%		2.26	%		2.93	%
High Yield R5#		9/30/98		-15.67	%		1.03	%		2.31	%		2.98	%
High Yield Y#		9/30/98		-15.59	%		1.09	%		2.34	%		3.00	%

#	Without sales charge
##	With sales charge
NA	Not Applicable
*	10 year and inception returns are not applicable for Class B because after 8 years Class B converts to Class A.

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)	Growth of a $10,000 investment in Classes B, C, I, R3, R4, R5 and Y shares will vary from results seen above due to differences in the expenses charged to these share classes.
(2)	The initial investment in Class A shares reflects the maximum sales charge and Classes B and C reflect CDSC.
(3)	Class I shares commenced operations on 5/31/07. Performance prior to 5/31/07 reflects Class A performance. Class R3, R4 and R5 shares commenced operations on 12/22/06. Performance prior to 12/22/06 reflects Class A performance.
(4)	Total returns presented above were calculated using the Fund’s net asset value available to shareholders for sale or redemption of Fund shares on April 30, 2009, which excludes investment transactions as of this date.

Portfolio Managers
Mark Niland, CFA	James Serhant, CFA
Managing Director	Senior Vice President, Senior Investment Analyst

How did the Fund perform?

The Class A shares of The Hartford High Yield Fund returned 8.94%, before sales charge, for the six-month period ended April 30, 2009. In comparison, its benchmark, the Barclays Capital U.S. Corporate High Yield Bond Index returned 16.02% while the average return of the Lipper High Current Yield Funds category, a group of funds with investment strategies similar to those of the Fund, was 9.13%.

Why did the Fund perform this way?

The Fund underperformed its benchmark during the period due to both sector and security selection. The Fund maintained a more defensive posture with respect to both of these, favoring defensive sectors such as Healthcare, Consumer Staples and Cable at the expense of cyclical and out-of-favor sectors, and shorter-duration securities where refinancing visibility was strong. Specifically, the Fund was underweight the benchmark in the Financial Sector, which grew from just around 6% of the benchmark at the end of October 2008 to just over 11% as of April 30, 2009. This was driven primarily by fallen angels (securities that were investment-

2

grade when issued but have since been downgraded). These securities are primarily the subordinated issues of household-name banks which entered the index at depressed prices and then rallied in the beginning of 2009.

Other sector underweights that created a drag on performance were Automotive and Retail, where our defensive security selection compounded a lower overall allocation to these sectors, which also rallied from previously depressed prices. The Fund’s higher quality bias is also shown in its CCC rated (S&P) allocation, which has remained steady in the 15-18% range while the Index’s CCC-exposure has grown from 20% to 25%. This has hurt the Fund’s benchmark relative (i.e. performance of the Fund as measured against the benchmark) performance as CCC-credits have outperformed thus far in 2009, with this segment of the index up 25% vs. 16.02% in the Barclays Capital U. S. Corporate High Yield Bond Index overall.

What is the outlook?

We expect corporate credit defaults to head higher, though a re-opening of the Corporate Bond Markets to corporate issuers has allowed some companies that were on the brink of default to meet upcoming maturities through re-financing in the public debt markets, thereby forestalling some defaults that looked imminent when the markets were shut in late 2008.

While the re-opening of the Corporate Bond Markets is a welcome sign to the broader economy, we believe there is risk inherent in the over-supply of newly issued bonds in the market as nearly every company that needs to re-finance debt over the next couple of years is looking to extend the maturity profile of its debt obligations with the resurgent demand.

This risk is exemplified by the disappearance of new-issue premiums (i.e. a company’s new bonds price with a higher yield than its existing bonds), as the pendulum has swung in favor of issuers of debt rather than investors. In the absence of a company’s ability to access the new issue market, High Yield issuers will likely continue to seek to exchange near-term maturities for longer-dated debt that is placed higher in a company’s capital structure.

The financial and consumer discretionary sectors have come very far, very fast, and it seems reasonable that in the face of a still uncertain economy, there could be a pull-back. The coming second quarter 2009 earnings season will shed important light on the outlook for economic activity. In this type of environment, there will certainly be some additional volatility in the price performance of high yield bonds, but also pockets of opportunity.

Distribution by Credit Quality

as of April 30, 2009

	Percentage of
	Long-Term
Rating	Holdings
A		0.2	%
BBB		5.5
BB		32.3
B		43.4
CCC		15.6
CC		0.1
D		2.6
Not Rated		0.3
Total		100.0	%

Diversification by Industry

as of April 30, 2009

	Percentage of
Industry	Net Assets
Basic Materials		6.6	%
Capital Goods		1.3
Consumer Cyclical		10.4
Consumer Staples		4.7
Energy		8.9
Finance		6.1
Health Care		10.8
Services		13.5
Technology		23.4
Transportation		2.0
Utilities		6.5
Short-Term Investments		8.3
Other Assets and Liabilities		(2.5	)
Total		100.0	%

Distribution by Security Type

as of April 30, 2009

	Percentage of
Category	Net Assets
Asset & Commercial Mortgage Backed Securities		0.2	%
Common Stocks		0.0
Corporate Bonds: Investment Grade		6.4
Corporate Bonds: Non-Investment Grade		79.7
Preferred Stock		0.0
Senior Floating Rate Interests: Non-Investment Grade		7.9
Warrant		0.0
Short-Term Investments		8.3
Other Assets and Liabilities		(2.5	)
Total		100.0	%

3

The Hartford High Yield Fund

Schedule of Investments
April 30, 2009 (Unaudited)

(000’s Omitted)

Shares or Principal Amount			Market Value ╪
ASSET & COMMERCIAL MORTGAGE BACKED SECURITIES -0.2%
		Finance - 0.2%
		CBA Commercial Small Balance Commercial Mortgage
$	5,856	9.75%, 01/25/2039 ⌂►	$	586
		Soundview NIM Trust
	920	8.25%, 12/25/2036 ⌂•		—
				586
		Total asset & commercial mortgage backed securities (cost $1,429)	$	586
CORPORATE BONDS: INVESTMENT GRADE - 6.4%
		Basic Materials - 1.1%
		Freeport-McMoRan Copper & Gold, Inc.
$	850	6.88%, 02/01/2014 ‡	$	841
	1,020	8.25%, 04/01/2015		1,005
		Rio Tinto Finance USA, Ltd.
	1,000	8.95%, 05/01/2014 ‡		1,035
				2,881
		Consumer Cyclical - 0.5%
		Phillips Van-Heusen Corp.
	1,895	7.75%, 11/15/2023 ‡		1,294
		Consumer Staples - 0.5%
		Anheuser-Busch InBev N.V.
	1,200	7.75%, 01/15/2019 ■‡		1,256
		Finance - 0.7%
		Goldman Sachs Capital Trust II
	3,700	5.79%, 06/01/2012 ‡♠Δ		1,830
		Services - 1.6%
		Allied Waste North America, Inc.
	820	6.88%, 06/01/2017 ‡		796
	2,425	7.88%, 04/15/2013 ‡		2,461
		Wynn Las Vegas LLC
	1,235	6.63%, 12/01/2014		1,025
				4,282
		Technology - 1.3%
		Qwest Corp.
	4,980	7.25%, 10/15/2035		3,548
		Transportation - 0.4%
		American Airlines, Inc.
	1,200	7.86%, 10/01/2011		996
		Utilities - 0.3%
		Williams Partners L.P.
	805	7.25%, 02/01/2017		729
		Total corporate bonds: investment grade (cost $17,056)	$	16,816
CORPORATE BONDS: NON-INVESTMENT GRADE - 79.7%
		Basic Materials - 5.5%
		Cenveo, Inc.
$	1,000	10.50%, 08/15/2016 ■		670
		Crown Americas, Inc.
	850	7.63%, 11/15/2013		859
		Georgia-Pacific Corp.
	2,950	7.00%, 01/15/2015 ■		2,802
		Georgia-Pacific LLC
	1,130	8.25%, 05/01/2016 ■		1,130
	725	9.50%, 12/01/2011		738
		Goodyear Tire & Rubber Co.
	2,000	6.32%, 12/01/2009 Δ		1,973
		Graham Packaging Co., Inc.
	1,790	8.50%, 10/15/2012		1,539
		Huntsman International LLC
	675	7.38%, 01/01/2015		439
	520	7.88%, 11/15/2014		343
		Nalco Co.
	925	7.75%, 11/15/2011		934
		Owens-Brockway Glass Container, Inc.
	825	8.25%, 05/15/2013		837
		Peabody Energy Corp.
	980	6.88%, 03/15/2013		960
		Potlatch Corp.
	650	13.00%, 12/01/2009 ⌂Δ		675
		Valmont Industries, Inc.
	725	6.88%, 05/01/2014		681
				14,580
		Capital Goods - 1.3%
		L-3 Communications Corp.
	2,300	6.13%, 07/15/2013 - 01/15/2014		2,192
		Transdigm, Inc.
	1,290	7.75%, 07/15/2014		1,261
				3,453
		Consumer Cyclical - 8.5%
		Albertson’s, Inc.
	1,290	7.50%, 02/15/2011		1,287
		Alliance One International, Inc.
	905	8.50%, 05/15/2012		805
		Amerigas Partners L.P.
	650	7.13%, 05/20/2016		629
	755	7.25%, 05/20/2015		738
		Aramark Corp.
	2,730	5.00%, 06/01/2012		2,423
		D.R. Horton, Inc.
	2,965	4.88%, 01/15/2010		2,921
		Dollarama Group L.P.
	1,540	8.88%, 08/15/2012		1,463
		ESCO Corp.
	2,060	8.63%, 12/15/2013 ■		1,669
		Ingles Markets, Inc.
	1,100	8.88%, 05/15/2017 *		1,062
		KB Home & Broad Home Corp.
	1,625	6.38%, 08/15/2011		1,552
		Pulte Homes, Inc.
	1,825	7.88%, 08/01/2011		1,820
		SGS International, Inc.
	1,825	12.00%, 12/15/2013		970
		Stater Brothers Holdings, Inc.
	1,080	8.13%, 06/15/2012		1,066

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

4

Shares or Principal Amount			Market Value ╪
CORPORATE BONDS: NON-INVESTMENT GRADE — 79.7% — (continued)
		Consumer Cyclical  —  8.5% — (continued)
		Supervalu, Inc.
$	3,040	7.50%, 11/15/2014	$	2,949
	665	8.00%, 05/01/2016		645
		United Components, Inc.
	985	9.38%, 06/15/2013		542
				22,541
		Consumer Staples — 3.4%
		Appleton Papers, Inc.
	1,170	8.13%, 06/15/2011		702
		Constellation Brands, Inc.
	1,905	8.38%, 12/15/2014		1,924
		Dean Foods Co.
	1,025	7.00%, 06/01/2016		999
		Dean Holding Co.
	950	6.63%, 05/15/2009		950
		Dole Food Co., Inc.
	1,145	13.88%, 03/15/2014 ■		1,205
		SPX Corp.
	950	7.63%, 12/15/2014		938
		Tyson Foods, Inc.
	2,225	10.50%, 03/01/2014 ■		2,325
				9,043
		Energy — 8.4%
		Chesapeake Energy Corp.
	2,350	7.00%, 08/15/2014		2,168
	1,590	7.63%, 07/15/2013		1,518
		Encore Acquisition Co.
	1,250	7.25%, 12/01/2017		1,038
		Ferrellgas Partners L.P.
	1,235	6.75%, 05/01/2014 ■		1,115
	1,700	8.75%, 06/15/2012		1,556
		Inergy L.P.
	2,240	8.25%, 03/01/2016		2,223
	810	8.75%, 03/01/2015 ■		814
		Newfield Exploration Co.
	1,300	6.63%, 09/01/2014		1,196
		Petrohawk Energy Corp.
	1,700	9.13%, 07/15/2013		1,666
		Plains Exploration & Production Co.
	850	7.63%, 06/01/2018		737
	840	7.75%, 06/15/2015		769
		Sonat, Inc.
	4,340	7.63%, 07/15/2011		4,296
		Targa Resources Partners
	1,300	8.25%, 07/01/2016 ■		1,027
		Tesoro Corp.
	2,550	6.63%, 11/01/2015		2,142
				22,265
		Finance — 5.1%
		American Real Estate Partners L.P.
	1,230	7.13%, 02/15/2013		1,033
		Ford Motor Credit Co.
	4,930	5.70%, 01/15/2010		4,634
		Hub International Holdings, Inc.
	1,415	9.00%, 12/15/2014 ■		984
		LPL Holdings, Inc.
	4,005	10.75%, 12/15/2015 ■		3,484
		Rent-A-Center, Inc.
	1,055	7.50%, 05/01/2010		1,058
		United Rentals North America, Inc.
	1,150	6.50%, 02/15/2012		1,029
		Yankee Acquisition Corp.
	1,500	8.50%, 02/15/2015		1,058
				13,280
		Health Care — 8.9%
		Biomet, Inc.
	1,670	10.38%, 10/15/2017		1,607
		HCA, Inc.
	3,864	7.88%, 02/01/2011		3,787
	980	8.50%, 04/15/2019 ■		986
	4,380	9.25%, 11/15/2016		4,336
		HealthSouth Corp.
	1,300	10.75%, 06/15/2016		1,326
		IASIS Healthcare Capital Corp.
	1,995	8.75%, 06/15/2014		1,960
		Invacare Corp.
	1,820	9.75%, 02/15/2015		1,834
		Multiplan Corp.
	2,005	10.38%, 04/15/2016 ■		1,764
		Psychiatric Solutions, Inc.
	2,490	7.75%, 07/15/2015		2,278
		Reable Therapeutics Finance LLC
	1,480	11.75%, 11/15/2014		955
		Skilled Healthcare Group, Inc.
	840	11.00%, 01/15/2014		872
		Warner Chilcott Corp.
	1,930	8.75%, 02/01/2015		1,896
				23,601
		Services — 10.1%
		Affinion Group, Inc.
	4,510	11.50%, 10/15/2015		3,247
		AMC Entertainment, Inc.
	1,235	11.00%, 02/01/2016		1,210
		Corrections Corp. of America
	1,165	6.25%, 03/15/2013		1,121
		DirecTV Holdings LLC
	775	7.63%, 05/15/2016		767
	1,420	8.38%, 03/15/2013		1,441
		Echostar DBS Corp.
	1,380	7.75%, 05/31/2015		1,311
		FireKeepers Development Authority
	1,120	13.88%, 05/01/2015 ■		806
		Harland Clarke Holdings
	2,020	9.50%, 05/15/2015		1,212
		Iron Mountain, Inc.
	2,020	8.00%, 06/15/2020		1,949
		MGM Mirage, Inc.
	2,800	6.00%, 10/01/2009		2,352
		Pinnacle Entertainment, Inc.
	1,630	8.75%, 10/01/2013		1,573
		Sheridan Group, Inc.
	1,600	10.25%, 08/15/2011 ⌂		992
		SunGard Data Systems, Inc.
	1,213	10.25%, 08/15/2015		1,055
		TL Acquisitions, Inc.
	1,780	10.50%, 01/15/2015 ■		1,211
		US Oncology, Inc.
	1,035	9.00%, 08/15/2012		1,020

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

5

The Hartford High Yield Fund
Schedule of Investments — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

Shares or Principal Amount				Market Value ╪
CORPORATE BONDS: NON-INVESTMENT GRADE — 79.7% — (continued)
		Services - 10.1% — (continued)
		Videotron Ltee
$	1,735	6.88%, 01/15/2014	$	1,685
	900	9.13%, 04/15/2018 ■		935
		Virgin Media, Inc.
	2,290	6.50%, 11/15/2016۞■		1,669
		West Corp.
	1,200	9.50%, 10/15/2014		1,041
				26,597
		Technology - 20.7%
		Canwest MediaWorks L.P.
	1,800	9.25%, 08/01/2015 ■		166
		Charter Communications Operating LLC
	3,755	8.00%, 04/30/2012 ■Ψ		3,530
	2,910	10.88%, 09/15/2014 ■Ψ		2,895
		Citizens Communications Co.
	920	7.88%, 01/15/2027		717
		Cricket Communications, Inc.
	2,015	9.38%, 11/01/2014		1,995
		CSC Holdings, Inc.
	3,760	7.63%, 04/01/2011		3,760
	2,800	8.50%, 04/15/2014 ■		2,856
		DaVita, Inc.
	1,100	6.63%, 03/15/2013		1,081
		Frontier Communications Corp.
	2,030	8.25%, 05/01/2014		1,994
		General Cable Corp.
	1,350	7.13%, 04/01/2017		1,175
		Intelsat Jackson Holdings Ltd.
	3,280	11.50%, 06/15/2016 ■		3,231
		Intelsat Subsidiary Holding Co.
	3,405	8.50%, 01/15/2013 ■		3,371
	3,700	8.88%, 01/15/2015 ■		3,644
		Lender Process Services
	1,025	8.13%, 07/01/2016		1,015
		Level 3 Financing, Inc.
	4,085	12.25%, 03/15/2013		3,687
		Mediacom LLC
	3,525	7.88%, 02/15/2011		3,490
		MetroPCS Wireless, Inc.
	2,060	9.25%, 11/01/2014		2,063
		Qwest Communications International, Inc.
	415	7.50%, 02/15/2014		385
		Sanmina-Sci Corp.
	1,430	4.07%, 06/15/2014 ■Δ		987
		Seagate Technology International
	2,255	10.00%, 05/01/2014 *■		2,221
		Sprint Capital Corp.
	2,985	8.38%, 03/15/2012		2,862
	4,200	8.75%, 03/15/2032		3,192
		Wind Acquisition Finance S.A.
	1,200	10.75%, 12/01/2015 ■		1,248
		Windstream Corp.
	2,995	8.63%, 08/01/2016		2,980
				54,545
		Transportation - 1.6%
		Bristow Group, Inc.
	1,290	7.50%, 09/15/2017		1,045
		Continental Airlines, Inc.
	481	6.80%, 08/02/2018		327
	994	7.03%, 06/15/2011		815
	1,602	7.37%, 12/15/2015		993
		Kansas City Southern De Mexico S.A.
	655	12.50%, 04/01/2016 ■		632
		United Air Lines, Inc.
	348	7.19%, 04/01/2011		334
				4,146
		Utilities - 6.2%
		AES Corp.
	1,875	8.00%, 10/15/2017		1,716
		Atlas Pipeline Partners L.P.
	1,600	8.13%, 12/15/2015		968
		Copano Energy LLC
	1,135	8.13%, 03/01/2016		1,033
		Kinder Morgan, Inc.
	1,300	6.50%, 09/01/2012		1,254
		Mirant North America LLC
	2,400	7.38%, 12/31/2013		2,310
		NRG Energy, Inc.
	4,550	7.25%, 02/01/2014		4,391
		Reliant Energy, Inc.
	2,700	6.75%, 12/15/2014		2,606
	451	9.24%, 07/02/2017		426
		Texas Competitive Electric Co.
	3,185	10.25%, 11/01/2015		1,807
				16,511
		Total corporate bonds: non-investment grade (cost $211,594)	$	210,562
SENIOR FLOATING RATE INTERESTS: NON-INVESTMENT GRADE - 7.9%
		Consumer Cyclical - 1.4%
		Hanesbrands, Inc.
$	1,100	4.84%, 03/05/2014 ±	$	973
	1,594	5.80%, 09/05/2011 *±		1,555
		Lear Corp.
	2,792	3.21%, 04/25/2012 *±		1,166
				3,694
		Consumer Staples - 0.8%
		Dole Food Co., Inc.
	86	1.14%, 04/12/2013 ±		81
	150	7.96%, 04/12/2013 ±		142
	558	7.97%, 04/12/2013 ±		529
		WM Wrigley Jr. Co.
	1,333	6.50%, 10/06/2014 *±		1,332
				2,084
		Energy - 0.5%
		Lyondell Chemical Co.
	696	5.25%, 12/15/2009 *±Ψ		706
		Turbo Beta Ltd.
	1,262	14.50%, 03/12/2018 ±⌂†		555
				1,261
		Finance - 0.1%
		Amerigroup Corp.
	355	2.44%, 03/26/2012 ±		342

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

6

Shares or Principal Amount					Market Value ╪
SENIOR FLOATING RATE INTERESTS: NON-INVESTMENT GRADE ♦ — 7.9% — (continued)
		Health Care - 1.9%
		Fresenius SE
$	1,800	6.75%, 10/01/2014 *±			$	1,791
		IASIS Healthcare Capital Corp.
	2,192	6.29%, 06/13/2014 *±				1,132
		Inverness Medical Innovation, Inc.
	1,291	4.74%, 06/26/2015 *±				1,123
		Life Technologies Corp.
	1,107	5.25%, 11/23/2015 ±				1,102
						5,148
		Services — 1.8%
		Marquee Holdings, Inc.
	2,797	6.32%, 06/13/2012 *±				1,721
		Venetian Macau Ltd.
	419	2.68%, 05/25/2012 ±				304
		Venetian Macau Ltd., Incremental Term Loan B
	297	2.68%, 05/25/2013 ±				215
		Venetian Macau Ltd., Term Loan
	726	2.68%, 05/25/2013 ±				526
		WideOpenWest Finance LLC
	1,484	7.49%, 06/29/2015 ±				560
		Yonkers Racing Corp.
	1,434	10.50%, 08/12/2011 *±				1,394
						4,720
		Technology — 1.4%
		Freescale Semiconductor, Inc.
	1,494	12.50%, 12/15/2014 *±				995
		Infor Lux Bond Co.
	1,776	8.43%, 09/02/2014 ±⌂				169
		Level 3 Communications Corp.
	700	11.50%, 03/13/2014 *±				711
		Mediacom Broadband LLC
	436	1.83%, 03/31/2010 ±				425
		Wind Acquisitions Holdings Finance S.A.
	1,750	8.36%, 12/12/2011 ±				1,400
						3,700
		Total senior floating rate interests: non-investment grade   (cost $26,151)			$	20,949
COMMON STOCKS — 0.0%
		Telecommunication Services — 0.0%
	1	AboveNet, Inc. ⌂•			$	37
	—	XO Holdings, Inc. •				—
						37
		Total common stocks (cost $-)			$	37
PREFERRED STOCKS — 0.0%
		Banks — 0.0%
	52	Federal National Mortgage Association			$	43
		Total preferred stocks (cost $668)			$	43
WARRANTS — 0.0%
		Telecommunication Services 0.0%
	—	AboveNet, Inc. ⌂•			$	7
	—	XO Holdings, Inc. ⌂•				—
						7
		Total warrants (cost $-)			$	7
		Total long-term investments (cost $256,898)			$	249,000
SHORT-TERM INVESTMENTS — 8.3%
		Investment Pools and Funds — 8.2%
	10,107	JP Morgan U.S. Government Money Market Fund			$	10,107
	—	State Street Bank U.S. Government Money Market Fund				—
	11,553	Wells Fargo Advantage Government Money Market Fund				11,553
						21,660
		U.S. Treasury Bills — 0.1%
$	300	0.18%, 07/16/2009 □○			$	300
		Total short-term investments (cost $21,960)			$	21,960
		Total investments (cost $278,858) ▲	102.5	%	$	270,960
		Other assets and liabilities	(2.5	)%		(6,629	)
		Total net assets	100.0	%	$	264,331

Note:	Percentage of investments as shown is the ratio of the total market value to total net assets. Market value of investments in foreign securities represents 5.05% of total net assets at April 30, 2009.
▲	At April 30, 2009, the cost of securities for federal income tax purposes was $279,930 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	8,656
Unrealized Depreciation		(17,626	)
Net Unrealized Depreciation	$	(8,970	)

†	The aggregate value of securities valued in good faith at fair value as determined under policies and procedures established by and under the supervision of the Fund’s Board of Directors at April 30, 2009, was $555, which represents 0.21% of total net assets.
•	Currently non-income producing. For long-term debt securities, items identified are in default as to payment of interest and/or principal.
‡	This security, or a portion of this security, has been segregated to cover funding requirements on investment transactions settling in the future.
Δ	Variable rate securities; the rate reported is the coupon rate in effect at April 30, 2009.

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

7

The Hartford High Yield Fund
Schedule of Investments — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

■	Securities issued within terms of a private placement memorandum, exempt from registration under Rule 144A under the Securities Act of 1933, as amended, and may be sold only to qualified institutional buyers. Pursuant to guidelines adopted by the Board of Directors, these issues are determined to be liquid. The aggregate value of these securities at April 30, 2009, was $50,633, which represents 19.16% of total net assets.
♠	Perpetual maturity security. Maturity date shown is the first call date.
۞	Convertible security.
►	The interest rates disclosed for interest only strips represent effective yields based upon estimated future cash flows at April 30, 2009.
○	The interest rate disclosed for these securities represents the effective yield on the date of the acquisition.
*	The cost of securities purchased on a when-issued or delayed delivery basis at April 30, 2009 was $9,468.
±	The interest rate disclosed for these securities represents the average coupon as of April 30, 2009.
Ψ	The company is in bankruptcy. The investment held by the fund is current with respect to interest payments.
□	Security pledged as initial margin deposit for open futures contracts at April 30, 2009.

Futures Contracts Outstanding at April 30, 2009

					Unrealized
	Number of			Expiration	Appreciation/
Description	Contracts*		Position	Month	(Depreciation)
2 Year U.S. Treasury Note		1	Long	Jun 2009	$	1
5 Year U.S. Treasury Note		140	Long	Jun 2009		(30	)
					$	(29	)

*	The number of contracts does not omit 000’s.
⌂	The following securities are considered illiquid. Illiquid securities are often purchased in private placement transactions, are often not registered under the Securities Act of 1933 and may have contractual restrictions on resale. A security may also be considered illiquid if the security lacks a readily available market or if its valuation has not changed for a certain period of time.

Period		Shares/
Acquired		Par		Security	Cost Basis
	09/2007 - 03/2008		1	AboveNet, Inc.	$	—
	09/2007 - 03/2008		—	AboveNet, Inc. Warrants		—
	11/2006 - 08/2007	$	5,856	CBA Commercial Small Balance Commercial Mortgage, 9.75%, 01/25/2039 - 144A		515
	03/2007 - 03/2009	$	1,776	Infor Lux Bond Co., 8.43%, 09/02/2014		1,521
	05/2001 - 11/2001	$	650	Potlatch Corp., 13.00%, 12/01/2009		646
	06/2005 - 04/2009	$	1,600	Sheridan Group, Inc., 10.25%, 08/15/2011		1,474
	02/2007	$	920	Soundview NIM Trust, 8.25%, 12/25/2036 - 144A		914
	06/2008 - 11/2008	$	1,262	Turbo Beta Ltd., 14.50%, 03/12/2018		1,262
	05/2006		—	XO Holdings, Inc. Warrants		—

The aggregate value of these securities at April 30, 2009 was $3,021 which represents 1.14% of total net assets.

♦ Senior floating rate interests in which the Fund invests generally pay interest rates which are periodically adjusted by reference to a base short-term, floating lending rate plus a premium. These base lending rates are generally (i) the lending rate offered by one or more major European banks, such as the London Inter-Bank Offered Rate (LIBOR), (ii) the prime rate offered by one or more major United States Banks, or (iii) the bank’s certificate of deposit rate. Senior floating rate interests often require prepayments from excess cash flows or permit the borrower to repay at its election. The rate at which the borrower repays cannot be predicted with accuracy. As a result, the actual remaining maturity may be substantially less than the stated maturities shown. The interest rate is the rate in effect at April 30, 2009.

Forward Foreign Currency Contracts Outstanding at April 30, 2009

							Unrealized
	Market		Contract		Delivery		Appreciation/
Description	Value ╪		Amount		Date		(Depreciation)
Euro (Sell)	$	835	$	820		05/27/09	$	(15	)

╪ See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of securities.

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

8

FAS 157 Disclosure of Investment Valuation Hierarchy Levels

Assets:
Investment in securities — Level 1	$	21,740
Investment in securities — Level 2		241,129
Investment in securities — Level 3		8,091
Total	$	270,960
Other financial instruments — Level 1 *	$	1
Total	$	1
Liabilities:
Other financial instruments — Level 1 *	$	30
Other financial instruments — Level 2 *		15
Total	$	45

* Other financial instruments are derivative instruments not reflected in the Schedule of Investments, such as futures, forwards and swap contracts, which are valued at the unrealized appreciation/depreciation on the investment.

Following is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value:

Assets:
Securities:
Balance as of October 31, 2008	$	4,738
Net realized loss		(53	)
Change in unrealized appreciation ♦		594
Net purchases		2,671
Transfers in and /or out of Level 3		141
Balance as of April 30, 2009	$	8,091
♦ Change in unrealized gains or losses relating to assets still held at April 30, 2009	$	(6	)

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

9

The Hartford High Yield Fund

Statement of Assets and Liabilities

April 30, 2009 (Unaudited)

(000’s Omitted)

Assets:
Investments in securities, at fair value (cost $278,858)	$	270,960
Foreign currency on deposit with custodian (cost $49)		48
Receivables:
Investment securities sold		3,095
Fund shares sold		2,812
Dividends and interest		5,804
Variation margin		—
Other assets		100
Total assets		282,819
Liabilities:
Unrealized depreciation on forward foreign currency contracts		15
Bank overdraft — U.S. Dollars		1
Payables:
Investment securities purchased		17,678
Fund shares redeemed		220
Investment management fees		30
Dividends		234
Distribution fees		16
Variation margin		2
Accrued expenses		91
Other liabilities		201
Total liabilities		18,488
Net assets	$	264,331
Summary of Net Assets:
Capital stock and paid-in-capital		385,931
Accumulated undistributed net investment income		407
Accumulated net realized loss on investments and foreign currency transactions		(114,065	)
Unrealized depreciation of investments and the translation of assets and liabilities denominated in foreign currency		(7,942	)
Net assets	$	264,331
Shares authorized		500,000
Par value	$	0.001
Class A: Net asset value per share/Maximum offering price per share	$	5.71/$5.97
Shares outstanding		30,559
Net assets	$	174,458
Class B: Net asset value per share	$	5.70
Shares outstanding		3,351
Net assets	$	19,086
Class C: Net asset value per share	$	5.70
Shares outstanding		6,417
Net assets	$	36,570
Class I: Net asset value per share	$	5.72
Shares outstanding		196
Net assets	$	1,122
Class R3: Net asset value per share	$	5.71
Shares outstanding		10
Net assets	$	57
Class R4: Net asset value per share	$	5.71
Shares outstanding		2
Net assets	$	14
Class R5: Net asset value per share	$	5.71
Shares outstanding		2
Net assets	$	8
Class Y: Net asset value per share	$	5.71
Shares outstanding		5,779
Net assets	$	33,016

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

10

The Hartford High Yield Fund

Statement of Operations

For the Six Month Period Ended April 30, 2009 (Unaudited)

(000’s Omitted)

Investment Income:
Interest	$	10,684
Securities lending		24
Total investment income		10,708
Expenses:
Investment management fees		660
Transfer agent fees		249
Distribution fees
Class A		152
Class B		85
Class C		131
Class R3		—
Class R4		—
Custodian fees		4
Accounting services		17
Registration and filing fees		45
Board of Directors’ fees		3
Audit fees		4
Other expenses		34
Total expenses (before waivers and fees paid indirectly)		1,384
Expense waivers		(171	)
Transfer agent fee waivers		(27	)
Custodian fee offset		—
Total waivers and fees paid indirectly		(198	)
Total expenses, net		1,186
Net investment income		9,522
Net Realized Loss on Investments, Other Financial Instruments and Foreign Currency Transactions:
Net realized loss on investments in securities		(33,323	)
Net realized gain on futures		1,435
Net realized loss on foreign currency transactions		(40	)
Net Realized Loss on Investments, Other Financial Instruments and Foreign Currency Transactions		(31,928	)
Net Changes in Unrealized Appreciation of Investments, Other Financial Instruments and Foreign Currency Transactions:
Net unrealized appreciation of investments		43,927
Net unrealized depreciation of futures		(291	)
Net unrealized appreciation on translation of other assets and liabilities in foreign currencies		7
Net Changes in Unrealized Appreciation of Investments, Other Financial Instruments and Foreign Currency Transactions		43,643
Net Gain on Investments, Other Financial Instruments and Foreign Currency Transactions		11,715
Net Increase in Net Assets Resulting from Operations	$	21,237

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

11

The Hartford High Yield Fund

Statement of Changes in Net Assets

(000’s Omitted)

	For the Six-Month
	Period Ended			For the
	April 30, 2009			Year Ended
	(Unaudited)			October 31, 2008
Operations:
Net investment income	$	9,522		$	17,427
Net realized loss on investments, other financial instruments and foreign currency transactions		(31,928	)		(22,497	)
Net unrealized appreciation (depreciation) of investments, other financial instruments and foreign currency transactions		43,643			(48,390	)
Net increase (decrease) in net assets resulting from operations		21,237			(53,460	)
Distributions to Shareholders:
From net investment income
Class A		(6,288	)		(12,185	)
Class B		(848	)		(1,900	)
Class C		(1,263	)		(2,233	)
Class I		(43	)		(34	)
Class R3		(1	)		(1	)
Class R4		(1	)		(1	)
Class R5		—			(1	)
Class Y		(1,252	)		(770	)
Total distributions		(9,696	)		(17,125	)
Capital Share Transactions:
Class A		50,212			(5,268	)
Class B		634			(5,433	)
Class C		13,338			(3,638	)
Class I		305			878
Class R3		39			8
Class R4		5			1
Class R5		—			1
Class Y		17,241			11,813
Net increase (decrease) from capital share transactions		81,774			(1,638	)
Net increase (decrease) in net assets		93,315			(72,223	)
Net Assets:
Beginning of period		171,016			243,239
End of period	$	264,331		$	171,016
Accumulated undistributed net investment income	$	407		$	581

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

12

The Hartford High Yield Fund

Notes to Financial Statements

April 30, 2009 (Unaudited)

(000’s Omitted)

1.	Organization:
	The Hartford Mutual Funds, Inc. (“Company”) is an open-end management investment company comprised of fifty-two portfolios. Financial statements for The Hartford High Yield Fund (the “Fund”), a series of the Company, are included in this report.
	The Company is organized under the laws of the State of Maryland and is registered with the Securities and Exchange Commission (“SEC”) under the Investment Company Act of 1940, as amended (“1940 Act”). The Fund is a diversified open-end management investment company.
	Class A shares are sold with a front-end sales charge of up to 4.50%. Class B shares are sold with a contingent deferred sales charge which is assessed on the lesser of the per share net asset value (“NAV”) of the shares at the time of redemption or the original purchase price, and declines from up to 5.00% to zero depending on the period of time the shares are held. Class C shares are sold with a contingent deferred sales charge of up to 1.00% on shares redeemed within twelve months of purchase. Class I shares are sold without sales charges to certain eligible investors through advisory fee-based wrap programs. Classes R3, R4, R5 shares, which are offered to employer-sponsored retirement plans, and Class Y shares, which are sold to certain eligible institutional investors, are sold without a sales charge. All classes of shares have identical voting, redemption, dividend, liquidation and other rights and the same terms and conditions, with the exceptions that each class may have different expenses, which may affect performance, and except that Class B shares automatically convert to Class A shares after 8 years.
	Effective at the close of business on September 30, 2009 (the “Close Date”), no new or additional investments will be allowed in Class B shares of The Hartford Mutual Funds (including investments through any systematic investment plan). After the Close Date, existing shareholders of Class B shares may continue to hold their Class B shares, exchange their Class B shares for Class B shares of another Hartford Mutual Fund (as permitted by existing exchange privileges), and redeem their Class B shares as described in the Fund’s prospectus. Reinstatement privileges with respect to Class B shares will continue under the current policy. If you have chosen to reinvest capital gains and dividends, any such capital gains or dividends on Class B shares will continue to be reinvested in Class B shares of the Fund. For Class B shares outstanding as of the Close Date, all Class B share attributes, including the 12b-1 fee, contingent deferred sales charge schedule, and conversion to Class A shares remain unchanged.
2.	Significant Accounting Policies:
	The following is a summary of significant accounting policies of the Fund, which are in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”).

a)	Security Transactions and Investment Income — Security transactions are recorded on the trade date (the date the order to buy or sell is executed). Security gains and losses are determined on the basis of identified cost.
	Trade date for senior floating rate interests purchased in the primary market is considered the date on which the loan allocations are determined. Trade date for senior floating rate loan interests purchased in the secondary market is the date on which the transaction is entered into.
	Interest income, including amortization of premium and accretion of discounts, is accrued on a daily basis.
b)	Security Valuation — The Fund generally uses market prices in valuing portfolio securities. If market prices are not readily available or are deemed unreliable, the Fund will use the fair value of the security as determined in good faith under policies and procedures established by and under the supervision of the Fund’s Board of Directors. Market prices may be deemed unreliable, for example, if a security is thinly traded or if an event has occurred after the close of the security’s primary markets, but before the close of the New York Stock Exchange (the “Exchange”) (normally 4:00 p.m. Eastern Time, referred to as the “Valuation Time”) that is expected to affect the value of the portfolio security. The

13

The Hartford High Yield Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

	circumstances in which the Fund may use fair value pricing include, among others: (i) the occurrence of events that are significant to a particular issuer, such as mergers, restructuring or defaults; (ii) the occurrence of events that are significant to an entire market, such as natural disasters in a particular region or governmental actions; (iii) trading restrictions on securities; (iv) thinly traded securities and (v) market events such as trading halts and early market closings.
	Debt securities (other than short-term obligations and senior floating rate interests) held by the Fund are valued on the basis of valuations furnished by an independent pricing service which determines valuations for normal institutional size trading units of debt securities. Senior floating rate interests generally trade in over-the-counter markets and are priced through an independent pricing service utilizing independent market quotations from loan dealers or financial institutions. Securities for which prices are not available from an independent pricing service are valued using market quotations obtained from one or more dealers that make markets in the securities in accordance with procedures established by the Fund’s Board of Directors. Generally, the Fund may use fair valuation in regard to debt securities when the Fund holds defaulted or distressed securities or securities in a company in which a reorganization is pending. Short-term investments with a maturity of more than 60 days when purchased are valued based on market quotations until the remaining days to maturity become less than 61 days. Investments that mature in 60 days or less are valued at amortized cost, which approximates market value.
	Options contracts on securities, currencies, indexes, futures contracts, commodities and other instruments shall be valued at their most recent sales price at the Valuation Time on the Primary Market on which the instrument is primarily traded. If the instrument did not trade on the Primary Market, it may be valued at the most recent sales price at the Valuation Time on another exchange or market where it did trade.
	Futures contracts are valued at the most recent settlement price reported by an exchange on which, over time, they are traded most extensively. If a settlement price is not available, futures contracts will be valued at the most recent trade price as of the Valuation Time. If there were no trades, the contract shall be valued at the mean of the closing bid/ask prices as of the Valuation Time.
	Financial instruments for which prices are not available from an independent pricing service are valued using market quotations obtained from one or more dealers that make markets in securities in accordance with procedures established by the Fund’s Board of Directors.
	A forward currency contract shall be valued based on the price of the underlying currency at the prevailing interpolated exchange rate, which is a combination of the spot currency rate and the forward currency rate. Spot currency rates and forward currency rates are obtained from an independent pricing service on a daily basis not more than one hour before the Valuation Time.
	Other derivative or contractual type instruments shall be valued using market prices if such instruments trade on an exchange or market. If such instruments do not trade on an exchange or market, such instruments shall be valued at a price at which the counterparty to such contract would repurchase the instrument. In the event that the counterparty cannot provide a price, such valuation may be determined in accordance with procedures established by the Fund’s Board of Directors.
	Investments in open-end mutual funds are valued at the respective NAV of each open-end mutual fund on the valuation date.
c)	Foreign Currency Transactions — The accounting records of the Fund are maintained in U.S. dollars. All assets and liabilities initially expressed in foreign currencies are converted into U.S. dollars at the prevailing exchange rates. Purchases and sales of investment securities, dividend and interest income and certain expenses are translated at the rates of exchange prevailing on the respective dates of such transactions.

14

	The Fund does not isolate that portion of portfolio security valuation resulting from fluctuations in the foreign currency exchange rates on portfolio securities from the fluctuations arising from changes in the market prices of securities held. Such fluctuations are included with the net realized and unrealized gain or loss on investments in the accompanying financial statements.
	Net realized foreign exchange gains or losses arise from sales of foreign currencies and the difference between asset and liability amounts initially stated in foreign currencies and the U.S. dollar value of the amounts actually received or paid. Net unrealized foreign exchange gains or losses arise from changes in the value of other assets and liabilities at the end of the reporting period, resulting from changes in the exchange rates.
d)	Securities Lending — The Fund may lend its securities to certain qualified brokers who pay the Fund negotiated lender fees. The loans are fully collateralized at all times with cash and/or U.S. Government Securities and/or repurchase agreements. The cash collateral is then invested in short-term money market instruments. The repurchase agreements are fully collateralized by U.S. Government Securities. The adequacy of the collateral for securities on loan is monitored on a daily basis. For instances where the market value of collateral falls below the market value of the securities out on loan, such collateral is supplemented on the following business day.
	While securities are on loan, the Fund is subject to the following risks: 1) that the borrower may default on the loan and that the collateral could be inadequate in the event the borrower defaults, 2) that the earnings on the collateral invested may not be sufficient to pay fees incurred in connection with the loan, 3) that the principal value of the collateral invested may decline and may not be sufficient to pay back the borrower for the amount of the collateral posted, 4) that the borrower may use the loaned securities to cover a short sale which may place downward pressure on the market prices of the loaned securities, 5) that return of loaned securities could be delayed and could interfere with portfolio management decisions and 6) that any efforts to recall the securities for purposes of voting a proxy may not be effective. The Fund had no securities out on loan as of April 30, 2009.
e)	Joint Trading Account — Pursuant to an exemptive order issued by the SEC, the Fund may transfer uninvested cash balances into a joint trading account managed by Hartford Investment Management Company (“Hartford Investment Management”). These balances may be invested in one or more repurchase agreements and/or short-term money market instruments.
f)	Repurchase Agreements — A repurchase agreement is an agreement by which the seller of a security agrees to repurchase the security sold at a mutually agreed upon time and price. At the time the Fund enters into a repurchase agreement, the value of the underlying collateral security(ies), including accrued interest, will be equal to or exceed the value of the repurchase agreement. Securities that serve to collateralize the repurchase agreement are held by the Fund’s custodian in book entry or physical form in the custodial account of the Fund or in a third party custodial account. Repurchase agreements are valued at cost plus accrued interest. The Fund had no outstanding repurchase agreements as of April 30, 2009.
g)	Forward Foreign Currency Contracts — The Fund may enter into forward foreign currency contracts that obligate the Fund to repurchase/replace or sell currencies at specified future dates. Forward foreign currency contracts may be used to hedge against adverse fluctuations in exchange rates between currencies.
	Forward foreign currency contracts involve elements of market risk in excess of the amount reflected in the Statement of Assets and Liabilities. In addition, risks may arise upon entering into these contracts from the potential inability of the counterparties to meet the terms of the contracts and from unanticipated movements in the value of the foreign currencies relative to the U.S. dollar.
h)	Fund Share Valuation and Dividend Distributions to Shareholders — Orders for the Fund’s shares are executed in accordance with the investment instructions of the shareholders. The NAV of the Fund’s shares is determined as of the close of each business day of the Exchange. The NAV is determined separately for each class of the Fund by dividing the Fund’s net assets attributable to that class by the number of shares of the class outstanding. Orders for the purchase of the

15

The Hartford High Yield Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

	Fund’s shares prior to the close of the Exchange on any day on which the Exchange is open for business are priced at the NAV determined as of the close of the Exchange. Orders after the close of the Exchange, or on a day on which the Exchange and/or the Fund is not open for business, are priced at the next determined NAV.
	The Fund intends to distribute substantially all of its net investment income and net realized capital gains to shareholders no less frequently than once a year. Normally, dividends from net investment income are declared daily and paid monthly. Dividends are paid on shares beginning on the business day after the day when the funds used to purchase the shares are collected by the transfer agent for the Fund. Unless shareholders specify otherwise, all dividends will be automatically reinvested in additional full or fractional shares of the Fund.
	Distributions from net investment income, realized capital gains and capital are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP with respect to character and timing. These differences include but are not limited to foreign currency gains and losses, losses deferred due to wash sales adjustments, adjustments related to Passive Foreign Investment Companies and certain derivatives, and excise tax regulations. Permanent book and federal income tax basis differences relating to shareholder distributions will result in reclassifications to certain of the Fund’s capital accounts (see Federal Income Taxes: Reclassification of Capital Accounts footnote).
i)	Illiquid and Restricted Securities — The Fund is permitted to invest up to 15% of its net assets in illiquid securities. “Illiquid Securities” are those that may not be sold or disposed of in the ordinary course of business within seven days, at approximately the price used to determine the Fund’s NAV. The Fund may not be able to sell illiquid securities or other investments when its sub-adviser considers it desirable to do so or may have to sell such securities or investments at a price that is lower than the price that could be obtained if the securities or investments were more liquid. A sale of illiquid securities or other investments may require more time and may result in higher dealer discounts and other selling expenses than does the sale of those that are liquid. Illiquid securities and investments also may be more difficult to value, due to the unavailability of reliable market quotations for such securities or investments, and investment in them may have an adverse impact on the Fund’s NAV. The Fund may also purchase certain restricted securities, commonly known as Rule 144A securities, that can be resold to institutions and which may be determined to be liquid pursuant to policies and guidelines established by the Fund’s Board of Directors. The Fund, as shown in the Schedule of Investments, had illiquid or restricted securities as of April 30, 2009.
j)	Securities Purchased on a When-Issued or Delayed-Delivery Basis — Delivery and payment for securities that have been purchased by the Fund on a forward commitment, or when-issued or delayed-delivery basis take place beyond the customary settlement period. During this period, such securities are subject to market fluctuations, and the Fund identifies securities segregated in its records with value at least equal to the amount of the commitment. As of April 30, 2009, the Fund had entered into outstanding when-issued or forward commitments with a cost of $9,468.
k)	Credit Risk — Credit risk depends largely on the perceived financial health of bond issuers. In general, the credit rating is inversely related to the credit risk of the issuer. Higher rated bonds generally are deemed to have less credit risk, while lower or unrated bonds are deemed to have higher risk of default. The share price, yield and total return of a Fund which holds securities with higher credit risk may fluctuate more than with less aggressive bond funds.
l)	Senior Floating Rate Interests —The Fund, as shown in the Schedule of Investments, may invest in senior floating rate interests. Senior floating rate interests hold the most senior position in the capital structure of a business entity (the “Borrower”), are typically secured by specific collateral and have a claim on the assets and/or stock of the Borrower that is senior to that held by subordinated debtholders and stockholders of the Borrower. Senior floating rate interests are typically structured and administered by a financial institution that acts as the agent of the lenders participating in the senior floating rate interest. Senior floating rate interests are typically rated below-investment-grade, which suggests they are more likely to default and generally pay higher interest rates than investment-grade loans. A default could lead to non-payment of income which would result in a reduction of income to the Fund and there can be no assurance that the

16

	liquidation of any collateral would satisfy the Borrower’s obligation in the event of non-payment of scheduled interest or principal payments, or that such collateral could be readily liquidated.
m)	Prepayment Risks — Most senior floating rate interests and certain debt securities allow for prepayment of principal without penalty. Senior floating rate interests and securities subject to prepayment risk generally offer less potential for gains when interest rates decline, and may offer a greater potential for loss when interest rates rise. In addition, with respect to securities, rising interest rates may cause prepayments to occur at a slower than expected rate, thereby effectively lengthening the maturity of the security and making the security more sensitive to interest rate changes. Prepayment risk is a major risk of mortgage-backed securities and certain asset-backed securities. Accordingly, the potential for the value of a senior floating rate interest or debt security to increase in response to interest rate declines is limited. For certain asset-backed securities, the actual maturity may be less than the stated maturity shown in the Schedule of Investments. As a result, the timing of income recognition relating to these securities may vary based upon the actual maturity.
	Senior floating rate interests or debt securities purchased to replace a prepaid loan or a debt security may have lower yields than the yield on the prepaid loan or debt security. Senior floating rate interests generally are subject to mandatory and/or optional prepayment. Because of these mandatory prepayment conditions and because there may be significant economic incentives for the Borrower to repay, prepayments of senior floating rate interests may occur. As a result, the actual remaining maturity of senior floating rate interests held may be substantially less than the stated maturities shown in the Schedule of Investments.
n)	Use of Estimates — The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and the reported amounts of income and expenses during the period. Operating results in the future could vary from the amounts derived from management’s estimates.
o)	Financial Accounting Standards Board Financial Accounting Standards No. 157 — Effective November 1, 2008, the Fund adopted Financial Accounting Standards Board (“FASB”) Statement of Financial Accounting Standards No. 157, “Fair Value Measurements” (“FAS 157”). This standard clarifies the definition of fair value for financial reporting, establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements. Fair value is defined under FAS 157 as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Under FAS 157, a fair value measurement should reflect all of the assumptions that market participants would use in pricing the asset or liability, including assumptions about the risk inherent in a particular valuation technique, the effect of a restriction on the sale or use of an asset, and the risk of nonperformance.
	Various inputs are used in determining the value of the Fund’s investment. These inputs are summarized, per FAS 157, into three broad hierarchy levels. This hierarchy is based on whether the valuation inputs are observable or unobservable. These levels are:

• Level 1 — Quoted prices in active markets for identical securities. Level 1 includes exchange-traded instruments such as domestic equities, some foreign equities, options, futures, mutual funds, ETF’s, and rights and warrants.

• Level 2 — Observable inputs other than Level 1 prices, such as quoted prices for similar securities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the security. Level 2 includes debt securities that are traded less frequently than exchange-traded instruments and that are valued using third party pricing services and foreign equities, whose value is determined using a multi-factor regression model with inputs that are observable in the market; and money market instruments, which are carried at amortized cost.

• Level 3 — Significant unobservable inputs that are supported by little or no market activity. Level 3 includes financial instruments whose values are determined using broker quotes and require significant management judgment or estimation. This category includes broker quoted securities, long dated OTC options and securities

17

The Hartford High Yield Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

where trading has been halted or there are certain restrictions on trading. While these securities are priced using unobservable inputs, the valuation of these securities reflects the best available data and management believes the prices are a good representation of exit price.

	Individual securities within any of the above mentioned asset classes may be assigned a different hierarchical level than those presented above, as individual circumstances dictate.
	FAS 157 also requires that a roll forward reconciliation be shown for all Level 3 securities from the beginning of the reporting period to the end of the reporting period. Part of this reconciliation includes transfers in and/or out of Level 3. For purposes of this reconciliation, transfers in are shown at the end of period fair value and transfers out are shown at the beginning of period fair value.
	Refer to the valuation hierarchy levels summary and the Level 3 roll forward reconciliation found following the Schedule of Investments.
	FASB Staff Position No. 157-4 — In April 2009, FASB released FASB Staff Position No. 157-4, “Determining Fair Value When the Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly” (“FSP FAS 157-4”). FSP FAS 157-4 provides additional guidance on determining whether a market for a financial asset is not active and a transaction is not distressed when measuring fair value under FAS 157. The FSP also requires additional disclosure detail on debt and equity securities by major investment categories. FSP FAS 157-4 is effective for interim and annual periods ending after June 15, 2009. At this time, management is evaluating the implications of FSP FAS 157-4 and does not believe it will impact valuation but will require additional disclosure. This additional disclosure has not yet been implemented.
p)	Financial Accounting Standards Board Financial Accounting Standards No. 161 — In March 2008, the FASB released Statement of Financial Accounting Standards No. 161, “Disclosures about Derivative Instruments and Hedging Activities” (“FAS 161”). FAS 161 requires companies to disclose information detailing the objectives and strategies for using derivative instruments, the level of derivative activity entered into by the company and any credit risk-related contingent features of the agreements. The application of FAS 161 is required for fiscal years and interim periods beginning after November 15, 2008. At this time, management is evaluating the implications of FAS 161 and has not yet implemented the new disclosure standard.
q)	Indemnifications: Under the Company’s organizational documents, the Company shall indemnify its officers and directors to the full extent required or permitted under Maryland General Corporation Law and the federal securities law. In addition, the Company, on behalf of the Fund, may enter into contracts that contain a variety of indemnifications. The Company’s maximum exposure under these arrangements is unknown. However, the Company has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote.

3. Futures and Options:

Futures and Options Transactions — The Fund may invest in futures and options contracts in order to gain exposure to or protect against changes in the market. A futures contract is an agreement between two parties to buy and sell a security at a set price on a future date. When the Fund enters into such futures contracts, it is required to deposit with a futures commission merchant an amount of “initial margin” of cash, commercial paper or U.S. Treasury Bills. Subsequent payments, called variation margin, to and from the broker, are made on a daily basis as the price of the underlying security fluctuates, making the long and short positions in the futures contract more or less valuable (i.e., mark-to-market), which results in an unrealized gain or loss to the Fund.

At any time prior to the expiration of the futures contract, the Fund may close the position by taking an opposite position, which would effectively terminate the position in the futures contract. A final determination of variation margin is then made, additional cash is required to be paid by or released to the Fund and the Fund realizes a gain or loss.

18

The use of futures contracts involves elements of market risk, which may exceed the amounts recognized in the Statement of Assets and Liabilities. Changes in the value of the futures contracts may decrease the effectiveness of the Fund’s strategy and potentially result in loss. The Fund, as shown on the Schedule of Investments, had outstanding futures contracts as of April 30, 2009.

The premium paid by the Fund for the purchase of a call or put option is included in the Fund’s Statement of Assets and Liabilities as an investment and subsequently “marked-to-market” through net unrealized appreciation (depreciation) of options to reflect the current market value of the option as of the end of the reporting period.

The Fund may write (sell) covered options. “Covered” means that so long as the Fund is obligated as the writer of an option, it will own either the underlying securities or currency or an option to purchase or sell the same underlying securities or currency having an expiration date of the covered option and an exercise price equal to or less than the exercise price of the covered option, or will pledge cash or other liquid securities having a value equal to or greater than the fluctuating market value of the option securities or currencies. The Fund receives a premium for writing a call or put option, which is recorded on the Fund’s Statement of Assets and Liabilities and subsequently “marked-to-market” through net unrealized appreciation (depreciation) of options. There is a risk of loss from a change in the value of such options, which may exceed the related premiums received. As of April 30, 2009, there were no outstanding written options contracts.

4. Federal Income Taxes:

a)

Federal Income Taxes — For federal income tax purposes, the Fund intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code (“IRC”) by distributing substantially all of its taxable net investment income and net realized capital gains to its shareholders and otherwise complying with the requirements of regulated investment companies. The Fund has distributed substantially all of its income and capital gains in prior years and the Fund intends to distribute substantially all of its income and gains during the calendar year ending December 31, 2009. Accordingly, no provision for federal income or excise taxes has been made in the accompanying financial statements. Distributions from short-term capital gains are treated as ordinary income distributions for federal income tax purposes.

b)

The tax character of distributions paid by the Fund for the periods indicated is as follows (as adjusted for dividends payable):

	For the Year Ended		For the Year Ended
	October 31, 2008		October 31, 2007
Ordinary Income	$	17,209	$	18,374

19

The Hartford High Yield Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

As of October 31, 2008, the Fund’s components of distributable earnings (deficit) on a tax basis were as follows:

	Amount
Undistributed Ordinary Income	$	805
Accumulated Capital Losses*	$	(80,815	)
Unrealized Depreciation†	$	(52,902	)
Total Accumulated Deficit	$	(132,912	)

*	The Fund has capital loss carryforwards that are identified in the Capital Loss Carryforward note that follows.
†	The differences between book-basis and tax-basis unrealized appreciation (depreciation) are attributable to the tax deferral of wash sales losses, the mark-to-market adjustment for certain derivatives in accordance with IRC Sec. 1256, the mark to market for Passive Foreign Investment Companies and basis differences in real estate investment trusts.

c)

Reclassification of Capital Accounts — In accordance with American Institute of Certified Public Accountants (AICPA) Statement of Position 93-2, Determination, Disclosure, and Financial Statement Presentation of Income, Capital Gain, and Return of Capital Distributions by Investment Companies, the Fund has recorded reclassifications in its capital accounts. These reclassifications had no impact on the NAV of the Fund. The reclassifications are a result of permanent differences between GAAP and tax accounting for such items as net operating losses that reduce distribution requirements. Adjustments are made to reflect the impact these items have on current and future distributions to shareholders. Therefore, the source of the Fund’s distributions may be shown in the accompanying Statement of Changes in Net Assets as from net investment income, from net realized gains on investments or from capital depending on the type of book and tax differences that exist. As of October 31, 2008, the Fund recorded reclassifications to increase undistributed net investment income by $124, increase accumulated net realized gain by $15,926, and decrease paid in capital by $16,050.

d)

Capital Loss Carryforward — At October 31, 2008 (tax-year-end), the Fund had capital loss carryforwards for U.S. federal income tax purposes of approximately:

Year	Amount
2009	$	1,643
2010		25,246
2011		28,570
2014		3,595
2016		21,761
Total	$	80,815

Based on certain provisions in the Internal Revenue Code, various limitations regarding the future utilization of the Fund carryforwards may apply. As of October 31, 2008, the Fund had $16,050 in expired capital loss carryforwards.

e)

Financial Accounting Standards Board Interpretation No. 48 — On July 13, 2006, the FASB released FASB Interpretation No. 48 “Accounting for Uncertainty in Income Taxes” (“FIN 48”). FIN 48 provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. The Fund adopted FIN 48 for fiscal years beginning after December 15, 2006. Management has evaluated the implications of FIN 48 for all open tax years (tax years ended October 31, 2006 — 2008) and has determined there is no impact to the Fund’s financial statements.

20

5. Expenses:

a)

Investment Management Agreements — Hartford Investment Financial Services, LLC (“HIFSCO”) serves as investment manager to the Fund pursuant to an Investment Management Agreement with The Hartford Mutual Funds, Inc. As investment manager, HIFSCO has overall investment supervisory responsibility for the Fund. In addition, HIFSCO provides administrative personnel, services, equipment, facilities and office space for proper operation of the Fund. HIFSCO has contracted with Hartford Investment Management for the provision of day-to-day investment management services to the Fund in accordance with the Fund’s investment objective and policies. The Fund pays a fee to HIFSCO, a portion of which may be used to compensate Hartford Investment Management.

The schedule below reflects the rates of compensation paid to HIFSCO for investment management services rendered during the six-month period ended April 30, 2009; the rates are accrued daily and paid monthly:

Average Daily Net Assets	Annual Fee
On first $500 million		0.70	%
On next $500 million		0.65	%
On next $4 billion		0.60	%
On next $5 billion		0.58	%
Over $10 billion		0.57	%

b) Accounting Services Agreement — Pursuant to the Fund Accounting Agreement between Hartford Life Insurance Company (“HLIC”) and the Fund, HLIC provides accounting services to the Fund and receives monthly compensation on the Fund’s average net assets. The Fund’s accounting service fees are accrued daily and paid monthly.

Average Daily Net Assets	Annual Fee
On first $5 billion		0.018	%
On next $5 billion		0.016	%
Over $10 billion		0.014	%

c) Operating Expenses — Allocable expenses incurred by the Company are allocated to each Fund and allocated to classes within the Fund in proportion to the average daily net assets of the Fund and each class, except where allocation of certain expenses is more fairly made directly to the Fund or to specific classes within a Fund. During the six-month period ended April 30, 2009, HIFSCO has contractually limited the total operating expenses of this Fund, exclusive of taxes, interest expense, brokerage commissions, certain distribution expenses and extraordinary expenses as follows:

Class A	Class B	Class C	Class I	Class R3	Class R4	Class R5	Class Y
1.15%	1.90%	1.90%	0.90%	1.40%	1.10%	0.90%	0.90%

d) Fees Paid Indirectly — The Fund’s custodian bank has agreed to reduce its fees when the Fund maintains cash on deposit in the non-interest-bearing custody account. For the six-month period ended April 30, 2009, this amount is included in the Statement of Operations.

21

The Hartford High Yield Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

The ratio of expenses to average net assets in the accompanying financial highlights excludes the reduction in expenses related to fees paid indirectly. Had the fees paid indirectly been included, the annualized expense ratio for the periods listed below would have been as follows:

	Annualized
	Six-Month
	Period			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended
	Ended April			October 31,			October 31,			October 31,			October 31,			October 31,
	30, 2009			2008			2007			2006			2005			2004
Class A Shares		1.14	%		1.15	%		1.15	%		1.20	%		1.33	%		1.35	%
Class B Shares		1.75			1.87			1.90			1.94			2.10			2.07
Class C Shares		1.90			1.90			1.83			1.89			2.00			1.98
Class I Shares		0.89			0.82			0.75	*
Class R3 Shares		1.39			1.40			1.40	†
Class R4 Shares		1.10			1.10			1.10	‡
Class R5 Shares		0.90			0.90			0.85	§
Class Y Shares		0.82			0.79			0.67			0.73			0.87			0.84

*	From May 31, 2007 (commencement of operations), through October 31, 2007
†	From December 22, 2006 (commencement of operations), through October 31, 2007
‡	From December 22, 2006 (commencement of operations), through October 31, 2007
§	From December 22, 2006 (commencement of operations), through October 31, 2007

e)	Distribution and Service Plan for Class A, B, C, R3 and R4 Shares — HIFSCO is the principal underwriter and distributor of the Fund. HIFSCO is engaged in distribution activities, which include marketing and distribution of shares through broker-dealers, financing distribution costs and maintaining financial books and records. For the six-month period ended April 30, 2009, HIFSCO received front-end load sales charges of $235 and contingent deferred sales charges of $23 from the Fund.
	The Fund has adopted Distribution and Service Plans in accordance with Rule 12b-1 of the Investment Company Act of 1940, as amended, to compensate the distributor (HIFSCO) for activities intended to result in the sale and distribution of Classes A, B, C, R3 and R4 shares and for providing services for shareholders. The Rule 12b-1 plan applicable to Class A shares of the Funds provides for payment of a Rule 12b-1 fee of up to 0.35% of average daily net assets; however, the Board of Directors has currently authorized 12b-1 payments of only up to 0.25%. Some or all of the fee may be used for shareholder servicing expenses with the remainder used for distribution expenses. Some or the entire Rule 12b-1 fee for Class B shares may be remitted to broker-dealers for distribution and/or shareholder account services. Under the Class B Plan, the Fund pays the distributor 1.00% of the average daily net assets of Class B shares that are outstanding for 8 years or less, 0.25% of which is a fee for services provided to existing shareholders with the remainder used for distribution expenses. After eight years, Class B shares convert to Class A shares. Upon conversion to Class A shares, the Class A plan described above will apply to those shares. Under the Class C Plan, the Fund pays the distributor 1.00% of the average daily net assets of Class C shares outstanding, 0.25% of which is intended as a fee for services provided to existing shareholders with the remainder used for distribution expenses. For Class C shares, some or the entire fee may be remitted to broker-dealers for distribution and/or shareholder account services. Class R3 shares have a distribution fee of 0.50% and Class R4 shares have a distribution fee of 0.25%. For Classes R3 and R4 shares, some or the entire fee may be remitted to broker dealers for distribution and/or shareholder account services. The Fund’s 12b-1 fees are accrued daily and paid monthly.
	For the six-month period ended April 30, 2009, total sales commissions paid to affiliated brokers/dealers of The Hartford for distributing the Fund’s shares were $11. These commissions are in turn paid to sales representatives of the broker/dealers.

22

f)	Other Related Party Transactions — Certain officers of the Fund are directors and/or officers of HIFSCO and/or The Hartford or its subsidiaries. For the six-month period ended April 30, 2009, a portion of the Fund’s chief compliance officer’s salary was paid by the Fund in an amount, which rounds to zero. Hartford Administrative Services Company (“HASCO”), an indirect wholly owned subsidiary of The Hartford, provides transfer agent services to the Fund. HASCO was compensated $235 for providing such services. These fees are accrued daily and paid monthly.
g)	Payments from Affiliate:
	The total return in the accompanying financial highlights includes payment from affiliates. Had the payment from affiliates been excluded, the total return for the periods listed below would have been as follows:

	Impact from Payment
	from Affiliate for
	Transfer Agent
	Allocation			Total Return
	Methodology			Excluding Payment
	Reimbursements for			from Affiliate for
	the Year Ended			the Year Ended
	October 31, 2004			October 31, 2004
Class A		0.01	%		9.25	%
Class B		—			8.45
Class C		0.10			8.44

6.	Affiliate Holdings:
	As of April 30, 2009, affiliates of The Hartford had ownership of shares in the Fund as follows:

	Shares
Class R3		1
Class R4		2
Class R5		2

7.	Investment Transactions:
	For the six-month period ended April 30, 2009, the Fund’s aggregate purchases and sales of investment securities (excluding short-term investments) were as follows:

	Amount
Cost of Purchases Excluding U.S. Government Obligations	$	207,041
Sales Proceeds Excluding U.S. Government Obligations		121,110

23

The Hartford High Yield Fund

Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

8.	Capital Share Transactions:
	The following information is for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	For the Six-Month Period Ended April 30, 2009											For the Year Ended October 31, 2008
			Shares					Shares						Shares					Shares
			Issued for					Issued		Net Increase				Issued for					Issued		Net Increase
	Shares		Reinvested		Shares			from		(Decrease) of		Shares		Reinvested		Shares			from		(Decrease) of
	Sold		Dividends		Redeemed			Merger		Shares		Sold		Dividends		Redeemed			Merger		Shares
Class A
Shares		18,415		987		(10,096	)		—		9,306		10,759		1,429		(12,581	)		—		(393	)
Amount	$	98,752	$	5,311	$	(53,851	)	$	—	$	50,212	$	74,918	$	10,120	$	(90,306	)	$	—	$	(5,268	)
Class B
Shares		758		120		(763	)		—		115		316		197		(1,272	)		—		(759	)
Amount	$	4,062	$	642	$	(4,070	)	$	—	$	634	$	2,252	$	1,397	$	(9,082	)	$	—	$	(5,433	)
Class C
Shares		4,234		163		(1,904	)		—		2,493		1,843		205		(2,556	)		—		(508	)
Amount	$	22,685	$	874	$	(10,221	)	$	—	$	13,338	$	13,308	$	1,452	$	(18,398	)	$	—	$	(3,638	)
Class I
Shares		74		8		(27	)		—		55		142		5		(25	)		—		122
Amount	$	392	$	43	$	(130	)	$	—	$	305	$	1,016	$	31	$	(169	)	$	—	$	878
Class R3
Shares		7		—		—			—		7		2		—		—			—		2
Amount	$	38	$	1	$	—		$	—	$	39	$	7	$	1	$	—		$	—	$	8
Class R4
Shares		1		—		—			—		1		—		—		—			—		—
Amount	$	5	$	—	$	—		$	—	$	5	$	—	$	1	$	—		$	—	$	1
Class R5
Shares		—		1		—			—		1		—		—		—			—		—
Amount	$	—	$	—	$	—		$	—	$	—	$	—	$	1	$	—		$	—	$	1
Class Y
Shares		3,454		231		(330	)		—		3,355		2,333		112		(639	)		—		1,806
Amount	$	17,772	$	1,244	$	(1,775	)	$	—	$	17,241	$	15,615	$	778	$	(4,580	)	$	—	$	11,813

The following reflects the conversion of Class B Shares into Class A Shares (reflected as Class A Shares issued and Class B shares redeemed) for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	Shares		Dollars
For the Six-Month Period Ended April 30, 2009		141	$	755
For the Year Ended October 31, 2008		246	$	1,796

9.	Line of Credit:
	The Fund is one of several Hartford Funds that participate in a $500 million committed revolving line of credit facility. The facility is to be used for temporary or emergency purposes. Under the arrangement, the Fund is required to own securities having a market value in excess of 300% of the total bank borrowings. The interest rate on borrowings varies depending on the nature of the loan. The facility also requires a fee to be paid based on the amount of the commitment. During the six-month period ended April 30, 2009, the Fund did not have any borrowings under this facility.
10.	Industry Classifications:
	Other than the industry classifications “Other Investment Pools and Funds” and “Exchange Traded Funds”, equity industry classifications used in this report are the Global Industry Classification Standard, which was developed by and is the exclusive property and service mark of MSCI, Inc. and Standard & Poor’s.

24

The Hartford High Yield Fund

Financial Highlights — (Unaudited)

	— Selected Per-Share Data — (a)																												— Ratios and Supplemental Data —
																																	Ratio of			Ratio of			Ratio of
																																	Expenses			Expenses			Expenses
																																	to Average			to Average			to Average
																																	Net Assets			Net Assets			Net Assets
																																	Before			After			After
							Net																										Waivers			Waivers			Waivers
							Realized																										and			and			and
							and Un-									Distrib-							Net										Reimburse-			Reimburse-			Reimburse-			Ratio of
			Net		Pay-		realized						Dividends			utions							Increase			Net					Net		ments and			ments and			ments and			Net Invest-			Port-
	Net Asset		Invest-		ments		Gain						from Net			from		Distri-					(Decrease)			Asset					Assets at		Including			Including			Excluding			ment			folio
	Value at		ment		from		(Loss) on			Total from			Invest-			Realized		butions		Total			in Net			Value at					End of		Expenses			Expenses			Expenses			Income to			Turn-
	Beginning		Income		(to)		Invest-			Investment			ment			Capital		from		Distri-			Asset			End of		Total			Period		not Subject			not Subject			not Subject			Average			over
Class	of Period		(Loss)		Affiliate		ments			Operations			Income			Gains		Capital		butions			Value			Period		Return(b)			(000’s)		to Cap(c)			to Cap(c)			to Cap(c)			Net Assets			Rate(d)
For the Six-Month Period Ended April 30, 2009 (Unaudited)
A	$	5.52	$	0.27	$	—	$	0.20		$	0.47		$	(0.28	)	$	—	$	—	$	(0.28	)	$	0.19		$	5.71		8.94	%(e)	$	174,458		1.37	%(f)		1.14	%(f)		1.14	%(f)		10.22	%(f)		72	%
B		5.51		0.25		—		0.20			0.45			(0.26	)		—		—		(0.26	)		0.19			5.70		8.63	(e)		19,086		2.26	(f)		1.75	(f)		1.75	(f)		9.67	(f)		—
C		5.51		0.25		—		0.20			0.45			(0.26	)		—		—		(0.26	)		0.19			5.70		8.54	(e)		36,570		2.02	(f)		1.90	(f)		1.90	(f)		9.44	(f)		—
I		5.53		0.28		—		0.20			0.48			(0.29	)		—		—		(0.29	)		0.19			5.72		9.05	(e)		1,122		0.89	(f)		0.89	(f)		0.89	(f)		10.50	(f)		—
R3		5.52		0.26		—		0.20			0.46			(0.27	)		—		—		(0.27	)		0.19			5.71		8.80	(e)		57		1.82	(f)		1.39	(f)		1.39	(f)		9.87	(f)		—
R4		5.53		0.27		—		0.19			0.46			(0.28	)		—		—		(0.28	)		0.18			5.71		8.76	(e)		14		1.20	(f)		1.10	(f)		1.10	(f)		10.25	(f)		—
R5		5.53		0.28		—		0.19			0.47			(0.29	)		—		—		(0.29	)		0.18			5.71		8.86	(e)		8		0.90	(f)		0.90	(f)		0.90	(f)		10.52	(f)		—
Y		5.53		0.28		—		0.19			0.47			(0.29	)		—		—		(0.29	)		0.18			5.71		8.90	(e)		33,016		0.82	(f)		0.82	(f)		0.82	(f)		10.49	(f)		—
For the Year Ended October 31, 2008 (g)
A		7.92		0.58		—		(2.40	)		(1.82	)		(0.58	)		—		—		(0.58	)		(2.40	)		5.52		(24.40	)		117,343		1.30			1.15			1.15			8.07			111
B		7.91		0.53		—		(2.41	)		(1.88	)		(0.52	)		—		—		(0.52	)		(2.40	)		5.51		(25.00	)		17,838		2.13			1.87			1.87			7.34			—
C		7.91		0.53		—		(2.41	)		(1.88	)		(0.52	)		—		—		(0.52	)		(2.40	)		5.51		(25.01	)		21,634		1.97			1.90			1.90			7.30			—
I		7.93		0.60		—		(2.40	)		(1.80	)		(0.60	)		—		—		(0.60	)		(2.40	)		5.53		(24.11	)		777		0.82			0.82			0.82			8.82			—
R3		7.93		0.56		—		(2.41	)		(1.85	)		(0.56	)		—		—		(0.56	)		(2.41	)		5.52		(24.70	)		14		1.63			1.40			1.40			7.93			—
R4		7.93		0.59		—		(2.41	)		(1.82	)		(0.58	)		—		—		(0.58	)		(2.40	)		5.53		(24.32	)		8		1.19			1.10			1.10			8.15			—
R5		7.93		0.60		—		(2.40	)		(1.80	)		(0.60	)		—		—		(0.60	)		(2.40	)		5.53		(24.16	)		8		0.90			0.90			0.90			8.35			—
Y		7.93		0.60		—		(2.40	)		(1.80	)		(0.60	)		—		—		(0.60	)		(2.40	)		5.53		(24.09	)		13,394		0.79			0.79			0.79			8.57			—
For the Year Ended October 31, 2007
A		7.93		0.58		—		(0.01	)		0.57			(0.58	)		—		—		(0.58	)		(0.01	)		7.92		7.36	(h)		171,505		1.36			1.15			1.15			7.26			145
B		7.92		0.52		—		(0.01	)		0.51			(0.52	)		—		—		(0.52	)		(0.01	)		7.91		6.56	(h)		31,591		2.17			1.90			1.90			6.51			—
C		7.92		0.53		—		(0.01	)		0.52			(0.53	)		—		—		(0.53	)		(0.01	)		7.91		6.63	(h)		35,066		2.03			1.83			1.83			6.58			—
I(i)		8.25		0.26		—		(0.33	)		(0.07	)		(0.25	)		—		—		(0.25	)		(0.32	)		7.93		(0.76	) (e)		149		0.95	(f)		0.75	(f)		0.75	(f)		8.07	(f)		—
R3(j)		8.04		0.48		—		(0.13	)		0.35			(0.46	)		—		—		(0.46	)		(0.11	)		7.93		4.49	(e)		10		1.66	(f)		1.40	(f)		1.40	(f)		6.99	(f)		—
R4(k)		8.04		0.50		—		(0.13	)		0.37			(0.48	)		—		—		(0.48	)		(0.11	)		7.93		4.75	(e)		10		1.34	(f)		1.10	(f)		1.10	(f)		7.29	(f)		—
R5(l)		8.04		0.52		—		(0.13	)		0.39			(0.50	)		—		—		(0.50	)		(0.11	)		7.93		4.96	(e)		11		1.06	(f)		0.85	(f)		0.85	(f)		7.54	(f)		—
Y		7.92		0.71		—		(0.09	)		0.62			(0.61	)		—		—		(0.61	)		0.01			7.93		7.96	(h)		4,897		0.87			0.67			0.67			7.62			—
For the Year Ended October 31, 2006
A		7.76		0.54		—		0.18			0.72			(0.55	)		—		—		(0.55	)		0.17			7.93		9.57			190,479		1.36			1.20			1.20			6.87			147
B		7.74		0.48		—		0.19			0.67			(0.49	)		—		—		(0.49	)		0.18			7.92		8.90			37,189		2.17			1.95			1.95			6.10			—
C		7.75		0.49		—		0.17			0.66			(0.49	)		—		—		(0.49	)		0.17			7.92		8.84			39,991		2.04			1.89			1.89			6.15			—
Y		7.75		0.58		—		0.17			0.75			(0.58	)		—		—		(0.58	)		0.17			7.92		10.11			24,374		0.88			0.73			0.73			7.33			—
For the Year Ended October 31, 2005
A		8.18		0.48		—		(0.40	)		0.08			(0.50	)		—		—		(0.50	)		(0.42	)		7.76		0.97			188,599		1.33			1.33			1.33			5.86			113
B		8.17		0.42		—		(0.41	)		0.01			(0.44	)		—		—		(0.44	)		(0.43	)		7.74		0.08			47,071		2.12			2.10			2.10			5.09			—
C		8.17		0.42		—		(0.39	)		0.03			(0.45	)		—		—		(0.45	)		(0.42	)		7.75		0.30			50,945		2.00			2.00			2.00			5.18			—
Y		8.17		0.52		—		(0.40	)		0.12			(0.54	)		—		—		(0.54	)		(0.42	)		7.75		1.43			25,974		0.87			0.87			0.87			6.40			—
For the Year Ended October 31, 2004 (g)
A		7.94		0.48		—		0.23			0.71			(0.47	)		—		—		(0.47	)		0.24			8.18		9.26	(h)		247,364		1.35			1.35			1.35			6.03			86
B		7.93		0.43		—		0.22			0.65			(0.41	)		—		—		(0.41	)		0.24			8.17		8.45	(h)		63,972		2.07			2.07			2.07			5.32			—
C		7.93		0.43		0.01		0.22			0.66			(0.42	)		—		—		(0.42	)		0.24			8.17		8.54	(h)		71,673		1.98			1.98			1.98			5.40			—
Y		7.94		0.39		—		0.36			0.75			(0.52	)		—		—		(0.52	)		0.23			8.17		9.72			16,410		0.84			0.84			0.84			6.13			—

(a)	Information presented relates to a share outstanding throughout the indicated period.
(b)	Assumes initial investment at net asset value at the beginning of each period, reinvestment of all distributions, the complete redemption of the investment at net asset value at the end of each period and no sales charge. Total return would be reduced if sales charges were taken into account.
(c)	Ratios do not include fees paid indirectly (See Expenses in the accompanying Notes to Financial Statements).
(d)	Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between the classes of shares issued.
(e)	Not annualized.
(f)	Annualized.
(g)	Per share amounts have been calculated using average shares outstanding method.
(h)	Total return without the inclusion of the Payments from (to) Affiliate, as noted on the Statement of Operations, can be found in Expenses in the accompanying Notes to Financial Statements.
(i)	Commenced operations on May 31, 2007.
(j)	Commenced operations on December 22, 2006.
(k)	Commenced operations on December 22, 2006.
(l)	Commenced operations on December 22, 2006.

25

The Hartford High Yield Fund

Directors and Officers (Unaudited)

The Board of Directors appoints officers who are responsible for the day-to-day operations of the Fund and who execute policies formulated by the Directors. Each director serves until his or her death, resignation, or retirement or until the next annual meeting of shareholders is held or until his or her successor is elected and qualifies.

Directors and officers who are employed by or who have a financial interest in The Hartford are considered “interested” persons of the Fund pursuant to the Investment Company Act of 1940, as amended. Each officer and three of the Fund’s directors, as noted in the chart below, are “interested” persons of the Fund. Each director serves as a director for The Hartford Mutual Funds, Inc., The Hartford Mutual Funds II, Inc., The Hartford Income Shares Fund, Inc., Hartford Series Fund, Inc., and Hartford HLS Series Fund II, Inc., which collectively consist of 100 funds. Correspondence may be sent to directors and officers c/o Hartford Mutual Funds, P.O. Box 2999, Hartford, Connecticut 06104-2999, except that correspondence to Ms. Fagely may be sent to 500 Bielenberg Drive, Woodbury, Minnesota 55125.

The table below sets forth, for each director and officer, his or her name, year of birth, current position with the Fund and date first elected or appointed to The Hartford Mutual Funds, Inc. (“MF”) and The Hartford Mutual Funds II, Inc. (“MF2”), principal occupation, and, for directors, other directorships held. The Fund’s statement of additional information contains further information on the directors and is available free of charge by calling 1-888-843-7824 or writing to Hartford Mutual Funds, P.O. Box 64387, St. Paul, MN 55164-0387.

Information on the aggregate remuneration paid to the directors of the Fund can be found in the Statement of Operations herein. The Fund pays a portion of the Chief Compliance Officer’s compensation, but does not pay salaries or compensation to any of its officers or directors who are employed by The Hartford.

Non-Interested Directors

Lynn S. Birdsong (1946) Director since 2003, Co-Chairman of the Investment Committee

Mr. Birdsong is a private investor. Since 1981, Mr. Birdsong has been a partner in Birdsong Company, an advertising specialty firm. Since 2003, Mr. Birdsong has been an independent director of The Japan Fund. From 2003 to March 2005, Mr. Birdsong was an independent director of the Atlantic Whitehall Funds. From 1979 to 2002, Mr. Birdsong was a managing director of Zurich Scudder Investments, an investment management firm. During his employment with Scudder, Mr. Birdsong was an interested director of The Japan Fund.

Robert M. Gavin, Jr. (1940) Director since 2002 (MF) and 1986 (MF2), Chairman of the Board since 2004

Dr. Gavin is an educational consultant. Prior to September 1, 2001, he was President of Cranbrook Education Community and prior to July 1996, he was President of Macalester College, St. Paul, Minnesota.

Duane E. Hill (1945) Director since 2001 (MF) and 2002 (MF2), Chairman of the Nominating Committee

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

Sandra S. Jaffee (1941) Director since 2005

Ms. Jaffee is Chairman and Chief Executive Officer of Fortent (formerly Searchspace Group), a leading provider of compliance/regulatory technology to financial institutions. Ms. Jaffee served as an Entrepreneur in Residence with Warburg Pincus, a private equity firm, from August 2004 to August 2005. From September 1995 to July 2004, Ms. Jaffee served as Executive Vice President at Citigroup, where she was President and Chief Executive Officer of Citibank’s Global Securities Services (1995-2003).

William P. Johnston (1944) Director since 2005, Chairman of the Compliance Committee

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

26

Phillip O. Peterson (1944) Director since 2002 (MF) and 2000 (MF2), Chairman of the Audit Committee

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

Lemma W. Senbet (1946) Director since 2005

Dr. Senbet is the William E. Mayer Chair Professor of Finance at the University of Maryland, Robert H. Smith School of Business. He was chair of the Finance Department during 1998-2006. Previously he was an endowed professor of finance at the University of Wisconsin-Madison. Also, he was director of the Fortis Funds from March 2000-July 2002. Dr. Senbet served the finance profession in various capacities, including as director of the American Finance Association and President of the Western Finance Association. In 2006, Dr. Senbet was inducted Fellow of Financial Management Association International for his career-long distinguished scholarship and professional service.

Interested Directors and Officers

Thomas M. Marra* (1958) Director since 2002

Mr. Marra has served as President and Chief Operating Officer of The Hartford Financial Services Group, Inc. (“The Hartford”) since 2007. Mr. Marra currently serves as Director of Hartford Life, Inc. (“HL, Inc.”). Mr. Marra served as Chief Operating Officer of Hartford Life Insurance Company, Inc. (“Hartford Life”) (2000-2008), as President of Hartford Life (2002-2008) and as Director of Hartford Life’s Investment Products Division from 1998 to 2000.

* On February 24, 2009, The Hartford and Mr. Marra determined to enter into a mutually agreed separation whereby Mr. Marra will retire, and his role as an executive officer and employee of The Hartford will terminate, effective July 3, 2009. Mr. Marra will resign his position as a Director of the Fund effective June 25, 2009.

Lowndes A. Smith (1939) Director since 2002, Co-Chairman of the Investment Committee

Mr. Smith served as Vice Chairman of The Hartford from February 1997 to January 2002, as President and Chief Executive Officer of Hartford Life, Inc. from February 1997 to January 2002, and as President and Chief Operating Officer of The Hartford Life Insurance Companies from January 1989 to January 2002. Mr. Smith serves as a Director of White Mountains Insurance Group, Ltd., One Beacon Insurance, Symetra Financial and as a Managing Director of Whittington Gray Associates.

John C. Walters* (1962) Director since 2008

Mr. Walters currently serves as Chief Executive Officer, President and Director of HL, Inc. Mr. Walters previously served as President of the U.S. Wealth Management Division of Hartford Life, Inc., as Co-Chief Operating Officer of Hartford Life Insurance Company (2007-2008) and as Executive Vice President and Director of its Investment Products Division (2000-2008). Mr. Walters also serves as Chairman of the Board, Chief Executive Officer, President and Director of Hartford Life Insurance Company and as Executive Vice President of The Hartford. In addition, Mr. Walters is Manager of HL Investment Advisors, LLC (“HL Advisors”).

* Mr. Walters previously served as President and Chief Executive Officer of the Fund (2007 — 2009).

Other Officers

Robert M. Arena, Jr. (1968) President and Chief Executive Officer since 2009 (served as Vice President of the Fund (2006 — 2009))

Mr. Arena serves as Executive Vice President of Hartford Life Insurance Company, (“Hartford Life”). Additionally, Mr. Arena is Director and Senior Vice President of Hartford Administrative Services Company, (“HASCO”), Manager, Chief Executive Officer and President of Hartford Investment Financial Services, LLC (“HIFSCO”) and HL Advisors. Prior to joining The Hartford in 2004, he was Senior Vice President in charge of Product Management for American Skandia/Prudential in the individual annuities division. Mr. Arena joined American Skandia in 1996.

Tamara L. Fagely (1958) Vice President, Treasurer and Controller since 2002 (MF) 1993 (MF2)

Ms. Fagely has been a Vice President of HASCO since 1998 and Chief Financial Officer since 2006. Currently Ms. Fagely is a Vice President of Hartford Life. She served as Assistant Vice President of Hartford Life from December 2001 through March 2005. In addition, Ms. Fagely is Controller and Chief Financial Officer of HIFSCO.

Brian Ferrell (1962) AML Compliance Officer since 2008

Mr. Ferrell has served as Assistant Vice President and AML Compliance Officer for The Hartford since 2006 and as AML Compliance Officer for HASCO and Hartford Investor Services Company, LLC (“HISC”) since 2008. Prior to joining The Hartford in 2006, Mr. Ferrell held various positions at the U.S. Department of the Treasury, (the “Treasury”), from 2001 to 2006 where he served as Chief Counsel for the Treasury’s Financial Crimes Enforcement Network, (“FinCEN”) from 2005 — 2006.

27

The Hartford High Yield Fund
Directors and Officers (Unaudited) — (continued)

Thomas D. Jones, III (1965) Vice President and Chief Compliance Officer since 2006

Mr. Jones serves as Chief Compliance Officer for the Hartford Mutual Funds and Vice President and Director of Securities Compliance for The Hartford. He is also Vice President of HIFSCO, HL Advisors, and Hartford Life Insurance Company. Mr. Jones joined The Hartford in 2006 from SEI Investments, where he served as Chief Compliance Officer for its mutual funds and investment advisers. Prior to joining SEI, Mr. Jones was First Vice President and Compliance Director for Merrill Lynch Investment Managers (Americas) (“MLIM”), where he worked from 1992-2004. At MLIM, Mr. Jones was responsible for the compliance oversight of various investment products, including mutual funds, wrap accounts, institutional accounts and alternative investments.

Edward P. Macdonald (1967) Vice President, Secretary and Chief Legal Officer since 2005

Mr. Macdonald serves as Assistant General Counsel and Assistant Vice President of The Hartford and Chief Legal Officer and Vice President of HIFSCO. He also serves as Vice President and Secretary of HASCO, Assistant Vice President of Hartford Life, and Chief Legal Officer, Secretary and Vice President of HL Advisors. Prior to joining The Hartford in 2005, Mr. Macdonald was Chief Counsel, Investment Management for Prudential Financial (formerly American Skandia Investment Services, Inc.). He joined Prudential in April 1999.

Vernon J. Meyer (1964) Vice President since 2006

Mr. Meyer serves as Senior Vice President of Hartford Life and as Director of its Investment Advisory Group in the Individual Markets Group segment. He also serves as Senior Vice President of HIFSCO and HL Advisors. Prior to joining The Hartford in 2004, Mr. Meyer was with MassMutual which he joined in 1987.

D. Keith Sloane (1960) Vice President since 2009

Mr. Sloane is a Senior Vice President of Hartford Life where he serves as Director of mutual fund product management for The Hartford’s mutual funds and 529 college savings businesses. Additionally, Mr. Sloane currently serves as Senior Vice President of HIFSCO, HL Advisors, and HASCO. Prior to joining The Hartford in 2007, Mr. Sloane was Director of product marketing and led the mutual fund business for Wachovia Securities (“Wachovia”) in their investment products group. Mr. Sloane joined Wachovia in 1995.

Jane Wolak (1961) Vice President since 2009

Ms. Wolak currently serves as Vice President of Hartford Life. Ms. Wolak joined Hartford Life as Vice President, Retail Product Services in May 2007. She is also Vice President of HASCO. Previously, Ms. Wolak was with Sun Life Financial where she held the position of Vice President, Service Center Operations from 2001 — 2007.

HOW TO OBTAIN A COPY OF THE FUND’S PROXY VOTING POLICIES AND VOTING RECORDS

A description of the policies and procedures that the Fund uses to determine how to vote proxies relating to portfolio securities and a record of how the Fund voted any proxies for the twelve-month period ended June 30, 2008 is available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov.

QUARTERLY PORTFOLIO HOLDINGS INFORMATION

The Fund files a complete schedule of portfolio holdings with the Commission for the first and third quarters of each fiscal year on Form N-Q. The Fund’s Forms are available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov. The Form N-Q may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330.

28

The Hartford High Yield Fund

Expense Example (Unaudited)

Your Fund’s Expenses

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments and contingent deferred sales charges (CDSC) (2) ongoing costs including management fees; distribution fees; and other fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the period of October 31, 2008 through April 30, 2009.

Actual Expenses

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

Hypothetical Example for Comparison Purposes

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

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads) and CDSC. Therefore, the second line 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 are equal to the Fund’s annualized expense ratios multiplied by average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

	Actual return						Hypothetical (5% return before expenses)
					Expenses paid						Expenses paid					Days in
					during the period						during the period					the		Days
	Beginning		Ending Account		October 31, 2008		Beginning		Ending Account		October 31,		Annualized			current		in the
	Account Value		Value		through		Account Value		Value		2008 through		expense			1/2		full
	October 31, 2008		April 30, 2009		April 30, 2009		October 31, 2008		April 30, 2009		April 30, 2009		ratio			year		year
Class A	$	1,000.00	$	1,089.40	$	5.90	$	1,000.00	$	1,019.14	$	5.70		1.14	%		181		365
Class B	$	1,000.00	$	1,086.28	$	9.05	$	1,000.00	$	1,016.11	$	8.74		1.75			181		365
Class C	$	1,000.00	$	1,085.40	$	9.82	$	1,000.00	$	1,015.37	$	9.49		1.90			181		365
Class I	$	1,000.00	$	1,090.50	$	4.61	$	1,000.00	$	1,020.38	$	4.45		0.89			181		365
Class R3	$	1,000.00	$	1,088.03	$	7.19	$	1,000.00	$	1,017.90	$	6.95		1.39			181		365
Class R4	$	1,000.00	$	1,087.56	$	5.69	$	1,000.00	$	1,019.33	$	5.50		1.10			181		365
Class R5	$	1,000.00	$	1,088.63	$	4.66	$	1,000.00	$	1,020.33	$	4.50		0.90			181		365
Class Y	$	1,000.00	$	1,089.01	$	4.24	$	1,000.00	$	1,020.72	$	4.10		0.82			181		365

29

The Hartford High Yield Municipal Bond Fund

Table of Contents

Manager Discussions (Unaudited)	2
Financial Statements
Schedule of Investments at April 30, 2009 (Unaudited)	5
Statement of Assets and Liabilities at April 30, 2009 (Unaudited)	11
Statement of Operations for the Six Month Period Ended April 30, 2009 (Unaudited)	12
Statement of Changes in Net Assets for the Six Month Period Ended April 30, 2009 (Unaudited) and the Year Ended October 31, 2008	13
Notes to Financial Statements (Unaudited)	14
Financial Highlights (Unaudited)	22
Directors and Officers (Unaudited)	23
How to Obtain a Copy of the Fund’s Proxy Voting Policies and Proxy Voting Records (Unaudited)	25
Quarterly Portfolio Holdings Information (Unaudited)	25
Expense Example (Unaudited)	26

The Hartford High Yield Municipal Bond Fund

(subadvised by Hartford Investment Management Company)

Performance Overview(1) 5/31/07 — 4/30/09
Growth of a $10,000 investment in Class A which includes Sales Charge

Barclays Capital Municipal Non-Investment Grade Debt Index is an unmanaged index made up of bonds that are non-investment grade, unrated, or rated below Ba1 by Moody’s Investors Service with a remaining maturity of at least one year.

You cannot invest directly in an index.

The value of shares will fluctuate so that, when redeemed, shares may be worth more or less than their original cost. The chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.

Investment objective – Seeks to provide a high level of current income which is generally exempt from federal income taxes. Capital appreciation is a secondary objective.

Average Annual Total Returns(2,3) (as of 4/30/09)

	Inception		1			Since
	Date		Year			Inception
High Yield Municipal Bond A#		5/31/07		-13.31	%		-11.13	%
High Yield Municipal Bond A##		5/31/07		-17.21	%		-13.24	%
High Yield Municipal Bond B#		5/31/07		-14.02	%		-11.83	%
High Yield Municipal Bond B##		5/31/07		-18.10	%		-13.52	%
High Yield Municipal Bond C#		5/31/07		-14.09	%		-11.82	%
High Yield Municipal Bond C##		5/31/07		-14.91	%		-11.82	%
High Yield Municipal Bond I#		5/31/07		-13.12	%		-10.87	%

#	Without sales charge
##	With sales charge

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)	Growth of a $10,000 investment in Classes B, C and I shares will vary from results seen above due to differences in the expenses charged to these share classes.
(2)	The initial investment in Class A shares reflects the maximum sales charge and Classes B and C reflect CDSC.
(3)	Total returns presented above were calculated using the Fund’s net asset value available to shareholders for sale or redemption of Fund shares on April 30, 2009, which excludes investment transactions as of this date.

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

Portfolio Managers
Christopher Bade	Charles Grande*
Vice President	Executive Vice President

How did the Fund perform?

The Class A shares of The Hartford High Yield Municipal Bond Fund returned 1.42%, before sales charge, for the six-month period ended April 30, 2009, versus its benchmark, the Barclays Capital Municipal Non-Investment Grade Debt Index, which returned -4.20%, and the - -0.25% average return of the Lipper High Yield Municipal Funds category, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

The Fund’s performance can be divided into two distinct periods. The first period, November through December 2008, was characterized by weak liquidity, and historically wide spreads (i.e. short and long term interest rates farther apart) in the municipal market, due to the general economic weakness and an investor flight to quality.

During the latter part of 2008 a large number of mutual funds were selling high yield municipal bonds at any price to raise cash to meet significant fund redemptions. This selling pressure and a severe lack of demand for lower rated bonds pushed yields significantly higher (prices lower) and credit spreads wider (the incremental yield an investor receives for taking on greater credit risk). The Fund’s underweight (i.e. the Fund’s sector position was less than the benchmark position) to lower rated credits compared to the benchmark resulted in outperformance. Towards the end of

2

2008, the Fund held 31% in non-investment grade bonds versus over 90% for the benchmark. In addition, the strategy of lowering our duration (a measure of interest-rate sensitivity) and increasing our cash position helped to limit underperformance during this time of rising yields.

The second distinct period of performance occurred from January through April 2009 as market prices rebounded off their lows in 2008. During this period the market saw a positive reversal of municipal mutual fund flows and improved liquidity in the market. A renewed appetite for riskier credits led to spread tightening (i.e. short and long term interest rates moving closer together) and better overall performance for high yield municipal bonds. Also, the greatly improved liquidity in the market allowed us to reposition the Fund for improved performance.

The Fund’s primary sources of outperformance relative (i.e. performance of the Fund as measured against the benchmark) to the benchmark over the full six-month period were security selection, curve positioning and reduced exposures to underperforming sectors. Security selection in health care, education, tobacco and industrial revenue bonds were positive contributors as spreads tightened in these sectors. Longer maturity bond exposures (18+ years) outperformed due to a flattening of the municipal curve, which was amplified with the introduction of the taxable Build America Bonds (BABs) in April that tipped the supply/demand imbalance as BABs replaced some of the tax-exempt supply.

Drags on performance relative to the benchmark over the period included holding high levels of cash later in the period as municipal bonds continued to rally in 2009, exposure to the City of Detroit Limited Tax General Obligation Bonds, which were downgraded to Non-Investment Grade in 2009, and exposure to Special Assessment Bonds that continued to be negatively impacted by the national housing slowdown and increasing delinquencies and foreclosures.

However, the Fund’s underweight to non-rated, special assessment bonds and industrial revenue bonds helped to mitigate underperformance relative to the benchmark during the period.

What is the outlook?

During this period of weak credit conditions and limited high yield municipal issuance, we continue to actively purchase high quality municipal bonds at wider spreads, which has contributed to an increase in the Fund’s overall credit rating (from Baa3 to Baa1). We still remain very cautious on high yield municipal credit given our general negative outlook on credit fundamentals. Budget challenges for state and local governments, downward ratings migration, and the ongoing “headline risk” will keep credit spreads wide and potentially cause them to widen further. However, we will selectively purchase lower rated credits and good credits in distressed sectors that we deem to be undervalued and are likely to outperform during this credit cycle. A stronger technical market going forward should allow us to trade more effectively in high yield municipal bonds.

Municipal bonds continue to present an excellent relative value versus taxable alternatives. Plus, the favorable steepness in the municipal curve coupled with wider credit spreads more fully compensates investors for the additional duration and credit risks in the market. Although we do not expect many defaults during this recession, we do expect that the weakening of credit fundamentals will certainly lead to downward ratings migration. However, we believe that the announcement of higher federal taxes under the Obama administration will make municipal bonds an even more attractive long-term investment.

*     Effective June 26, 2009, Charles Grande will no longer manage assets for the Fund.

Distribution by Credit Quality
as of April 30, 2009

	Percentage of
	Long-Term
Rating	Holdings
AAA		5.1	%
AA		10.5
A		26.0
BBB		25.6
BB		10.6
B		5.1
CCC		0.6
Not Rated		16.5
Total		100.0	%

Diversification by Industry
as of April 30, 2009

	Percentage of
Industry	Net Assets
Airport Revenues		4.7	%
General Obligations		10.7
Health Care/Services		21.0
Higher Education (Univ., Dorms, etc.)		16.0
Housing (HFA’S, etc.)		1.2
Industrial		7.0
Miscellaneous		10.1
Public Facilities		1.2
Refunded With U.S. Government Securities		4.5
Special Tax Assessment		5.6
Tax Allocation		2.8
Transportation		2.2
Utilities - - Electric		3.7
Utilities - Water and Sewer		0.7
Short-Term Investments		7.4
Other Assets and Liabilities		1.2
Total		100.0	%

3

Distribution by State
as of April 30, 2009

	Percentage of
State	Net Assets
Alaska		0.3	%
Arizona		2.6
California		6.6
Colorado		1.6
Delaware		0.8
District of Columbia		0.8
Florida		8.4
Georgia		2.2
Idaho		0.7
Illinois		5.0
Indiana		0.8
Kansas		0.1
Louisiana		2.5
Maryland		0.4
Massachusetts		1.8
Michigan		5.8
Minnesota		0.3
Missouri		0.4
Nebraska		0.8
Nevada		0.6
New Hampshire		0.1
New Jersey		3.1
New Mexico		1.4
New York		8.1
North Carolina		0.4
Ohio		3.4
Oklahoma		0.1
Other U.S. Territories		0.9
Pennsylvania		2.2
Rhode Island		2.6
South Carolina		0.5
South Dakota		1.9
Texas		12.0
Utah		1.6
Virginia		1.5
Washington		2.5
West Virginia		0.8
Wisconsin		5.8
Short-Term Investments		7.4
Other Assets and Liabilities		1.2
Total		100.0	%

4

The Hartford High Yield Municipal Bond Fund

Schedule of Investments
April 30, 2009 (Unaudited)
(000’s Omitted)

Shares or Principal Amount			Market Value ╪
MUNICIPAL BONDS—91.4%
		Alaska — 0.3%
		Alaska Municipal Bond Bank Auth,
$	375	5.75%, 09/01/2033	$	381
		Anchorage Alaska,
	605	5.25%, 08/01/2028		636
				1,017
		Arizona — 2.6%
		Arizona State Transportation Board Highway Rev,
	3,000	5.25%, 07/01/2025		3,221
		Estrella Mountain Ranch Community GO,
	265	6.20%, 07/15/2032 ⌂		176
		Mohave County Industrial DA Correctional Fac Contract,
	3,000	8.00%, 05/01/2025		3,171
		Pinal County Electric Dist #4,
	1,150	6.00%, 12/01/2038		932
		Scottsdale, AZ, IDA,
	1,000	5.25%, 09/01/2030		867
		Show Low Bluff, AZ, Community Fac Dist Special Assessment,
	200	5.60%, 07/01/2031 ⌂		125
		Tartesso West Community Facilities Dist,
	1,000	5.90%, 07/15/2032 ⌂		632
				9,124
		California — 6.6%
		California State,
	4,985	6.50%, 04/01/2033		5,361
		California State Public Works Board,
	2,000	6.25%, 04/01/2034		2,027
		California Statewide Community DA, California Baptist University,
	2,800	5.50%, 11/01/2038		1,692
		California Statewide Community DA, Drew School,
	250	5.30%, 10/01/2037		157
		California Statewide Community DA, Huntington Park Rev,
	200	5.15%, 07/01/2030		134
		California Statewide Community DA, Thomas Jefferson School of Law,
	4,100	7.25%, 10/01/2032		3,186
		Morongo Band of Mission Indians Enterprise Rev,
	1,595	6.50%, 03/01/2028 ■		1,153
		Perris, CA, Public FA Local Agency Rev,
	1,000	5.80%, 09/01/2038 ⌂		712
		Rialto, CA, Redev Agency,
	2,000	5.88%, 09/01/2033		1,701
		San Jose Redev Agency,
	500	6.50%, 08/01/2023		525
		Santa Cruz County Redev Agency,
	1,335	6.63%, 09/01/2029		1,397
		Torrance USD,
	500	5.38%, 08/01/2024		534
	1,500	5.50%, 08/01/2025		1,599
		Turlock, CA, Health Facilities Rev,
	2,675	5.38%, 10/15/2034		1,908
				22,086
		Colorado — 1.6%
		Baptist Road Rural Transportation Auth, Sales & Use Tax Rev,
	800	5.00%, 12/01/2026		454
		Colorado E-470 Public Highway Auth Rev,
	1,875	5.50%, 09/01/2024		1,652
		Colorado Educational & Cultural FA Rev, Charter School-Windsor Academy Proj,
	500	5.70%, 05/01/2037 ⌂		335
		Colorado Health FA Rev,
	2,500	5.50%, 05/15/2028		2,021
		Denver, CO, City & County Special Fac Airport AMT,
	500	5.25%, 10/01/2032		257
		North Range, CO, Metropolitan Dist #2,
	500	5.50%, 12/15/2027 ⌂		311
		Park Meadows, CO, Business Improvement Dist Shared Sales Tax Rev,
	360	5.35%, 12/01/2031		222
				5,252
		Delaware — 0.8%
		Delaware Transportation Auth,
	1,180	5.00%, 07/01/2025		1,274
		Millsboro, DE, Special Obligation Plantation Lakes Special Development,
	500	5.45%, 07/01/2036 ⌂		284
		Sussex County, DE, Del Rev,
	1,235	5.90%, 01/01/2026		883
				2,441
		District of Columbia — 0.8%
		District of Columbia Tobacco Settlement Financing Corp,
	3,460	6.50%, 05/15/2033		2,571
		Florida — 8.4%
		Beeline Community Development Dist,
	1,220	7.00%, 05/01/2037		902
		Colonial Country Club Community Development Dist, Capital Improvement Rev,
	2,105	6.40%, 05/01/2033		2,048
		Florida Village Community Development,
	1,000	6.50%, 05/01/2033		932
		Florida Village Community Development Dist No 8,
	2,855	6.38%, 05/01/2038		2,087
		Highlands County, FL, Adventist Health,
	125	5.25%, 11/15/2036		147
		Jacksonville, FL, Econ Development Community Health Care Facilities,
	2,000	6.25%, 09/01/2027		1,626
		Lakeland Florida Retirement Community Rev,
	1,750	6.38%, 01/01/2043		1,249
		Lee County, FL, Industrial Development Auth,
	1,000	5.25%, 06/15/2027		610
		Magnolia Creek, FL, Community Development Dist Capital Improvement,
	500	5.90%, 05/01/2039 ⌂		292
		Miami-Dade County Aviation Rev,
	2,470	5.50%, 10/01/2036 *		2,375

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

5

The Hartford High Yield Municipal Bond Fund
Schedule of Investments — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

Shares or Principal Amount			Market Value ╪
MUNICIPAL BONDS — 91.4% — (continued)
		Florida — 8.4% — (continued)
		Miami-Dade County, FL, Educational Facilities Auth,
$	3,000	5.75%, 04/01/2028	$	3,075
		Orange County, FL, Health Care FA Rev,
	200	5.50%, 07/01/2038 ⌂		119
		Palm Beach County, FL, Health FA Rev Waterford Proj,
	2,400	5.88%, 11/15/2037		1,627
		Parker Road, FL, Community Development Dist Cap Improvement Ser A,
	200	5.60%, 05/01/2038 ⌂		106
		Putnam County, FL, DA,
	3,125	5.35%, 03/15/2042		3,174
		River Bend Community Development Dist, Capital Improvement Rev,
	1,990	7.13%, 11/01/2015		1,292
		Seminole Tribe of Florida,
	4,500	5.25%, 10/01/2027 ■		3,151
	1,000	5.50%, 10/01/2024 ■		751
		Six Mile Creek, FL, Community Development Dist,
	1,525	5.88%, 05/01/2038 ⌂		715
		St. Johns County, FL, IDA,
	1,765	5.00%, 02/15/2027		1,151
		Sweetwater Creek, FL, Community Development Dist Captial Improvement Rev,
	1,000	5.50%, 05/01/2038 ⌂		543
		Tolomato, FL, Community Development Dist,
	800	6.65%, 05/01/2040		536
		University Square Community Development,
	500	5.88%, 05/01/2038		286
				28,794
		Georgia — 2.2%
		Atlanta Airport Revenues,
	5,000	7.00%, 01/01/2030 Δ		5,000
		Augusta, GA, Airport Rev AMT,
	165	5.35%, 01/01/2028		113
	230	5.45%, 01/01/2031		153
		Dekalb County Development,
	1,500	6.00%, 07/01/2034		1,496
		Marietta, GA, DA,
	1,500	7.00%, 06/15/2030		1,166
				7,928
		Idaho — 0.7%
		Idaho Arts Charter School,
	1,000	6.25%, 12/01/2028		768
		Idaho Board Bank Auth,
	1,465	5.63%, 09/15/2026		1,619
				2,387
		Illinois — 5.0%
		Aurora Illinois Tax Increment Rev,
	1,000	6.75%, 12/30/2027		749
		Belleville, IL, Tax Increment,
	1,000	5.70%, 05/01/2036 ⌂		692
		Chicago, IL, O’Hare International Airport Special Fac Rev, American Airlines Inc.,
	250	5.50%, 12/01/2030		94
		Chicago, IL, O’Hare Int’l Airport Rev,
	2,210	6.00%, 01/01/2017		2,255
		Hampshire, IL, Special Service Area #13, Tuscany Woods Proj,
	200	5.75%, 03/01/2037 ⌂		115
		Hampshire, IL, Special Service Area #16, Prairie Ridge Proj,
	200	6.00%, 03/01/2046 ⌂		116
		Illinois FA Rev,
	1,800	5.38%, 08/15/2039 — 11/15/2039		1,456
	6,000	5.50%, 08/15/2030		5,077
		Illinois FA, Children’s Memorial Hospital Ser B,
	1,500	5.50%, 08/15/2028		1,385
		Illinois Financial Auth Rev,
	1,200	5.25%, 11/01/2039 *		1,154
	1,070	5.38%, 07/01/2033		994
	1,400	6.00%, 03/01/2038		1,422
	190	6.25%, 02/01/2033		181
		Springfield, IL, Water Rev,
	500	5.25%, 03/01/2026		523
		University of Illinois Rev,
	1,205	5.75%, 04/01/2038		1,275
				17,488
		Indiana — 0.8%
		Indiana Municipal Power Agency,
	1,000	5.75%, 01/01/2034		1,008
		University of Southern Indiana,
	1,065	5.00%, 10/01/2022 — 10/01/2023.		1,105
		Vigo County, IN, Union Hospital,
	500	5.70%, 09/01/2037 ■		332
				2,445
		Kansas — 0.1%
		Olathe, KS, Tax Increment Rev, West Village Center,
	500	5.50%, 09/01/2026 ⌂		341
		Louisiana — 2.5%
		Colonial Pinnacle Community Development Dist,
	2,655	6.75%, 05/01/2023		1,867
		Louisiana Local Government Environmental Facilities & Community Development,
	6,000	6.75%, 11/01/2032		4,155
		Louisiana Public Fac Auth, Susla Fac Inc,
	500	5.75%, 07/01/2039 ⌂		343
		New Orleans Aviation Board Revenues,
	2,500	6.00%, 01/01/2023		2,557
				8,922
		Maryland — 0.4%
		Maryland State Community Development Admin,
	605	4.38%, 09/01/2016		627
		Maryland State Health & Higher Education FA Rev,
	770	6.00%, 01/01/2028		666
				1,293

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

6

Shares or Principal Amount			Market Value ╪
MUNICIPAL BONDS — 91.4% — (continued)
		Massachusetts — 1.8%
		Massachusetts State Health & Education Facilities,
$	1,000	5.13%, 07/01/2033	$	834
	3,000	5.50%, 10/01/2024		3,049
	2,355	8.00%, 10/01/2039		2,434
		Michigan — 5.8%
		Detroit, MI, GO,
	12,175	5.00%, 04/01/2016		9,723
		Flint Michigan International Academy,
	2,500	5.75%, 10/01/2037		1,689
		Michigan Public Educational Facilities,
	5,000	6.50%, 09/01/2037 ■		3,729
		Michigan State Hospital FA, McLaren Health Care,
	3,000	5.63%, 05/15/2028		2,825
		Royal Oak Hospital Financial Auth,
	2,000	8.25%, 09/01/2039		2,217
				20,183
		Minnesota — 0.3%
		Baytown Township, MN,
	750	7.00%, 08/01/2038		587
		Falcon Heights, MN, Lease Rev,
	525	6.00%, 11/01/2037		366
		Minneapolis, MN, Multifamily Housing Rev AMT,
	200	5.40%, 04/01/2028		143
				1,096
		Missouri — 0.4%
		Branson Hills, MO, Infrastructure Fac,
	100	5.50%, 04/01/2027 ⌂		65
		Branson, MO, Regional Airport Transportation Development AMT,
	1,300	6.00%, 07/01/2025		863
		Kansas City, MO, Tax Increment Rev Maincor Proj Ser A,
	500	5.25%, 03/01/2018		398
				1,326
		Nebraska — 0.8%
		Madison County Hospital Auth,
	2,000	6.00%, 07/01/2033		1,760
		Omaha Public Power Dist,
	1,000	5.50%, 02/01/2033		1,055
				2,815
		Nevada — 0.6%
		Las Vegas, NV, Special Improvement Dist #808 & 810, Summerlin Village,
	500	6.13%, 06/01/2031 ⌂		260
		Mesquite Special Improvement Dist #07-01,
	500	6.00%, 08/01/2027		334
		Sparks Tourism Improvement,
	2,240	6.75%, 06/15/2028		1,544
				2,138
		New Hampshire — 0.1%
		New Hampshire State Business Fin Rev AMT,
	200	5.20%, 05/01/2027		164
		New Jersey — 3.1%
		Burlington County, NJ, Bridge Commission Econ Development Rev, The Evergreen Proj,
	1,500	5.63%, 01/01/2038		944
		New Jersey Econ DA,
	4,800	6.25%, 09/15/2019		3,640
		New Jersey Health Care Facilities FA,
	4,000	6.63%, 07/01/2038		3,098
		New Jersey Health Care Services FA,
	800	5.50%, 07/01/2030		576
		New Jersey State Educational FA Rev,
	2,000	7.50%, 12/01/2032		1,967
				10,225
		New Mexico — 1.4%
		Los Alamos County, NM,
	3,000	5.88%, 06/01/2027		3,203
		Montecito Estates Public Improvement Rev,
	1,000	7.00%, 10/01/2037 ⌂ .		687
		Otero County NM Jail Proj Rev,
	1,370	6.00%, 04/01/2028		981
				4,871
		New York — 8.1%
		Erie County, NY, IDA Global Concepts Charter School Proj,
	2,100	6.25%, 10/01/2037		1,521
		Genesee County, NY, IDA Civic Fac Rev, United Memorial Medical Center,
	500	5.00%, 12/01/2027		330
		Long Island Power Auth,
	3,000	6.25%, 04/01/2033		3,249
		Nassau County, NY, IDA Continuing Care Retirement,
	2,500	6.70%, 01/01/2043		1,857
		Nassau County, NY, IDA Continuing Care Retirement, Amsterdam at Harborside, Ser A,
	1,000	6.50%, 01/01/2027		793
		New York State Dormitory Auth Non State Supported Debt, NYU Hospital Center Ser B,
	750	5.63%, 07/01/2037		572
		New York State Dormitory Auth Non State Supported Debt, Orange Regional Med Center,
	3,125	6.13%, 12/01/2029		2,427
		New York State Dormitory Auth Rev Non St Supported Debt,
	2,000	6.00%, 07/01/2033		2,097
		New York, NY, GO,
	4,000	6.25%, 10/15/2028		4,379
		New York, NY, IDA American Airlines JFK International Airport AMT,
	515	7.13%, 08/01/2011		480
	9,000	7.63%, 08/01/2025		6,859
	1,725	8.00%, 08/01/2012		1,568
		Ulster County, NY, IDA,
	3,250	6.00%, 09/15/2037 — 09/15/2042		2,139
				28,271

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

7

The Hartford High Yield Municipal Bond Fund
Schedule of Investments — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

Shares or Principal Amount			Market Value ╪
MUNICIPAL BONDS — 91.4% — (continued)
		North Carolina — 0.4%
		Albemarle, NC, Hospital Auth Healthcare,
$	1,000	5.25%, 10/01/2038	$	717
		Mecklenburg County, NC,
	790	5.00%, 02/01/2024		832
				1,549
		Ohio — 3.4%
		Buckeye Tobacco Settlement FA,
	5,000	5.88%, 06/01/2047		2,794
	9,500	6.50%, 06/01/2047		5,860
		Ohio State Higher Educational Facilities Rev,
	3,000	5.50%, 12/01/2036		3,018
				11,672
		Oklahoma — 0.1%
		Oklahoma Development FA, Hospital Rev Great Plains Regional Medical Center,
	500	5.13%, 12/01/2036		348
		Other U. S. Territories — 0.9%
		Puerto Rico Commonwealth,
	3,570	5.50%, 07/01/2032		3,143
		Pennsylvania — 2.2%
		Allegheny County, PA, Higher Education Building Auth,
	1,150	5.00%, 03/01/2033		1,093
		Erie Higher Educational Building Auth,
	1,000	5.50%, 03/15/2038		807
		Northampton County, PA,
	3,000	5.50%, 08/15/2035		2,484
		Pennsylvania State Higher Educational FA Rev,
	855	5.75%, 07/01/2028		697
		Pennsylvania Turnpike Commission,
	1,335	6.00%, 06/01/2028		1,450
		Philadelphia GO,
	1,000	7.00%, 07/15/2028		1,088
		Philadelphia, PA, IDA,
	500	5.25%, 05/01/2037		313
				7,932
		Rhode Island — 2.6%
		Rhode Island Health & Educational Building Corp,
	2,000	7.00%, 05/15/2039		2,026
		Rhode Island Tobacco Settlement Funding Corp,
	945	6.00%, 06/01/2023		855
		Tobacco Settlement Financing Corp,
	8,000	6.25%, 06/01/2042		5,902
				8,783
		South Carolina — 0.5%
		Lancaster County, SC, Sun City Assessment,
	1,987	7.70%, 11/01/2017		1,640
		South Dakota — 1.9%
		South Dakota Educational Enhancement Funding Corp,
	6,030	6.50%, 06/01/2032		4,502
		South Dakota Housing DA,
	1,985	6.13%, 05/01/2033		2,091
				6,593
		Texas — 12.0%
		Brazos County Health Facilities Development Corp,
	3,260	5.50%, 01/01/2038		2,543
		Brazos County, TX, Health Facilities Development Corp,
	3,310	5.50%, 01/01/2033		2,647
		Burnet County, TX, Public Fac Proj Rev,
	4,000	7.75%, 08/01/2029		3,715
		Clifton Higher Education Fin Corp,
	2,000	8.75%, 02/15/2028		1,965
		Corpus Christi, TX, Independent School Dist,
	2,665	5.00%, 08/15/2026		2,732
		Dallas County Utility & Reclamation Dist,
	5,000	5.38%, 02/15/2029		4,532
		Dallas Fort Worth, TX, International Airport,
	3,000	6.00%, 11/01/2032		2,922
		Dallas-Fort Worth, TX, International Airport AMT,
	2,000	6.15%, 01/01/2016		1,731
		Garza County, TX, Public Fac Corp Rev,
	350	5.75%, 10/01/2025		333
		Guadalupe County, TX, Board Managers Joint Rev ,
	2,000	5.50%, 08/15/2036		1,902
		Harris County, TX, Cultural Education Fac Baylor CLG Medicine,
	2,855	5.63%, 11/15/2032		2,853
		Houston, TX, Airport System Rev,
	6,500	6.75%, 07/01/2021		4,929
		La Vernia Texas Higher Education,
	2,105	9.00%, 08/15/2038		2,119
		Lower Colorado River Auth Rev,
	3,000	7.25%, 05/15/2037		3,263
		Maverick County, TX, Public Fac Corp Proj Rev,
	1,495	6.25%, 02/01/2024		1,138
		Travis County, TX, Health Fac, Querencia
		Barton Creek Project,
	600	5.65%, 11/15/2035		359
		Willacy County, TX, GO,
	2,500	6.88%, 09/01/2028		1,832
				41,515
		Utah — 1.6%
		Provo, UT, Lakeview Charter School,
	1,300	5.63%, 07/15/2037		878
		Provo, UT, Renaissance Charter School,
	200	5.63%, 07/15/2037		131
		Utah County, UT, Charter School Rev,
	1,000	6.00%, 02/15/2038		705
		Utah State Charter School FA Charter School Rev,
	2,000	6.75%, 08/15/2028		1,611

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

8

Shares or Principal Amount			Market Value ╪
MUNICIPAL BONDS — 91.4% — (continued)
		Utah — 1.6% — (continued)
		Utah State Charter School Financing Auth, Channing Hall Ser A,
$	750	5.88%, 07/15/2027 ■	$	523
	700	6.00%, 07/15/2037 ■		465
		Utah State Charter School Financing Auth, Summit Academy Ser A,
	1,500	5.80%, 06/15/2038		1,019
				5,332
		Virginia — 1.5%
		James City County, VA, Econ DA Residential Care Fac,
	675	5.40%, 07/01/2027		416
		Lexington, VA, IDA Residential Care Fac Rev,
	1,050	5.50%, 01/01/2037		686
		Norfolk, VA, Redev & Housing Auth Rev,
	2,005	6.13%, 01/01/2035		1,450
		Peninsula, VA, Turn Center Community Dev DA,
	300	6.45%, 09/01/2037		200
		Virginia State Residential Auth,
	500	5.00%, 11/01/2024		545
		Washington County Hospital Fac Revenues,
	1,750	7.75%, 07/01/2038		1,789
				5,086
		Washington — 2.5%
		Skagit County, WA, Public Hospital Rev,
	2,000	5.75%, 12/01/2032		1,531
		Washington Health Care Facilities Auth,
	4,000	6.25%, 10/01/2028		4,342
		Washington State Health Care FA Rev,
	3,600	6.13%, 08/15/2037		2,841
				8,714
		West Virginia — 0.8%
		West Virginia State Hospital FA Rev Thomas Health Systems,
	3,500	6.50%, 10/01/2028 — 10/01/2038		2,726
		Wisconsin — 5.8%
		Badger Tobacco Asset Securitization Corp of WI,
	13,565	6.13%, 06/01/2027 ‡		14,490
	1,000	6.38%, 06/01/2032		1,123
		Wisconsin State General Fund,
	185	5.75%, 05/01/2033		192
	1,295	6.00%, 05/01/2036		1,363
		Wisconsin State Health & Educational FA Rev,
	2,500	5.50%, 08/15/2023		2,270
		Wisconsin State Health & Educational Fac Auth, Wellington Homes Wis LLC,
	600	6.75%, 09/01/2037		427
				19,865
		Total municipal bonds (cost $363,529)	$	314,393
		Total long-term investments (cost $363,529)	$	314,393

SHORT-TERM INVESTMENTS — 7.4%
		Investment Pools and Funds — 7.4%
	25,427	State Street Bank Tax Free Money Market Fund			$	25,427
		Total short-term investments (cost $25,427)			$	25,427
		Total investments (cost $388,956) ▲	98.8	%	$	339,820
		Other assets and liabilities	1.2	%		4,033
		Total net assets	100.0	%	$	343,853

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

▲ At April 30, 2009, the cost of securities for federal income tax purposes was $388,956 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	5,709
Unrealized Depreciation		(54,845	)
Net Unrealized Depreciation	$	(49,136	)

‡ This security, or a portion of this security, has been segregated to cover funding requirements on investment transactions settling in the future.

Δ Variable rate securities; the rate reported is the coupon rate in effect at April 30, 2009.

■ Securities issued within terms of a private placement memorandum, exempt from registration under Rule 144A under the Securities Act of 1933, as amended, and may be sold only to qualified institutional buyers. Pursuant to guidelines adopted by the Board of Directors, these issues are determined to be liquid. The aggregate value of these securities at April 30, 2009, was $10,104, which represents 2.94% of total net assets.

* The cost of securities purchased on a when-issued or delayed delivery basis at April 30, 2009 was $3,568.

⌂ The following securities are considered illiquid. Illiquid securities are often purchased in private placement transactions, are often not registered under the Securities Act of 1933 and may have contractual restrictions on resale. A security may also be considered illiquid if the security lacks a readily available market or if its valuation has not changed for a certain period of time.

Period		Shares/
Acquired		Par		Security	Cost Basis
	09/2007	$	1,000	Belleville, IL, Tax Increment, 5.70%, 05/01/2036	$	994
	05/2007	$	100	Branson Hills, MO, Infrastructure Fac, 5.50%, 04/01/2027		100
	06/2007	$	500	Colorado Educational & Cultural FA Rev, Charter School-Windsor Academy Proj, 5.70%, 05/01/2037 — 144A		500

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

9

The Hartford High Yield Municipal Bond Fund
Schedule of Investments – (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

Period		Shares/
Acquired		Par		Security	Cost Basis
	11/2007	$	265	Estrella Mountain Ranch Community GO, 6.20%, 07/15/2032	$	265
	05/2007	$	200	Hampshire, IL, Special Service Area #13, Tuscany Woods Proj, 5.75%, 03/01/2037		200
	07/2007	$	200	Hampshire, IL, Special Service Area #16, Prairie Ridge Proj, 6.00%, 03/01/2046		201
	08/2007	$	500	Las Vegas, NV, Special Improvement Dist #808 & 810, Summerlin Village, 6.13%, 06/01/2031		498
	07/2007	$	500	Louisiana Public Fac Auth, Susla Fac Inc, 5.75%, 07/01/2039 — 144A		503
	06/2007	$	500	Magnolia Creek, FL, Community Development Dist Capital Improvement, 5.90%, 05/01/2039		496
	06/2007	$	500	Millsboro, DE, Special Obligation Plantation Lakes Special Development, 5.45%, 07/01/2036		500
	12/2007	$	1,000	Montecito Estates Public Improvement Rev, 7.00%, 10/01/2037		1,000
	06/2007	$	500	North Range, CO, Metropolitan Dist #2, 5.50%, 12/15/2027		499
	06/2007	$	500	Olathe, KS, Tax Increment Rev, West Village Center, 5.50%, 09/01/2026		498
	06/2007	$	200	Orange County, FL, Health Care FA Rev, 5.50%, 07/01/2038		195
	05/2007	$	200	Parker Road, FL, Community Development Dist Cap Improvement Ser A, 5.60%, 05/01/2038		199
	11/2007	$	1,000	Perris, CA, Public FA Local Agency Rev, 5.80%, 09/01/2038		1,000
	05/2007	$	200	Show Low Bluff, AZ, Community Fac Dist Special Assessment, 5.60%, 07/01/2031 — 144A		200
	06/2007 — 10/2007	$	1,525	Six Mile Creek, FL, Community Development Dist, 5.88%, 05/01/2038		1,450
	06/2007	$	1,000	Sweetwater Creek, FL, Community Development Dist Captial Improvement Rev, 5.50%, 05/01/2038		1,000
	09/2007	$	1,000	Tartesso West Community Facilities Dist, 5.90%, 07/15/2032		1,000

The aggregate value of these securities at April 30, 2009 was $6,969 which represents 2.03% of total net assets.

AMT	—	Alternative Minimum Tax
DA	—	Development Authority
FA	—	Finance Authority
GO	—	General Obligations
IDA	—	Industrial Development Authority Bond
USD	—	United School District

╪ See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of securities.

FAS 157 Disclosure of Investment Valuation Hierarchy Levels

Assets:
Investment in securities — Level 1	$	25,427
Investment in securities — Level 2		314,393
Total	$	339,820

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

10

The Hartford High Yield Municipal Bond Fund

Statement of Assets and Liabilities
April 30, 2009 (Unaudited)
(000’s Omitted)

Assets:
Investments in securities, at fair value (cost $388,956)	$	339,820
Cash		—
Receivables:
Investment securities sold		4,996
Fund shares sold		3,169
Dividends and interest		6,509
Other assets		80
Total assets		354,574
Liabilities:
Payables:
Investment securities purchased		9,516
Fund shares redeemed		308
Investment management fees		31
Dividends		606
Distribution fees		23
Accrued expenses		23
Other liabilities		214
Total liabilities		10,721
Net assets	$	343,853
Summary of Net Assets:
Capital stock and paid-in-capital		418,608
Accumulated undistributed net investment income		93
Accumulated net realized loss on investments		(25,712	)
Unrealized depreciation of investments		(49,136	)
Net assets	$	343,853
Shares authorized		650,000
Par value	$	0.001
Class A: Net asset value per share/Maximum offering price per share	$	7.15/$7.48
Shares outstanding		27,646
Net assets	$	197,684
Class B: Net asset value per share	$	7.15
Shares outstanding		873
Net assets	$	6,241
Class C: Net asset value per share	$	7.15
Shares outstanding		12,320
Net assets	$	88,144
Class I: Net asset value per share	$	7.16
Shares outstanding		7,233
Net assets	$	51,784

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

11

The Hartford High Yield Municipal Bond Fund

Statement of Operations
For the Six Month Period Ended April 30, 2009 (Unaudited)
(000’s Omitted)

Investment Income:
Interest	$	10,434
Total investment income		10,434
Expenses:
Investment management fees		831
Transfer agent fees		80
Distribution fees
Class A		213
Class B		25
Class C		392
Custodian fees		2
Accounting services		27
Registration and filing fees		48
Board of Directors’ fees		1
Audit fees		3
Other expenses		25
Total expenses (before waivers and fees paid indirectly)		1,647
Expense waivers		(245	)
Custodian fee offset		(1	)
Total waivers and fees paid indirectly		(246	)
Total expenses, net		1,401
Net investment income		9,033
Net Realized Loss on Investments:
Net realized loss on investments in securities		(12,506	)
Net Realized Loss on Investments		(12,506	)
Net Changes in Unrealized Appreciation of Investments:
Net unrealized appreciation of investments		8,194
Net Changes in Unrealized Appreciation of Investments		8,194
Net Loss on Investments		(4,312	)
Net Increase in Net Assets Resulting from Operations	$	4,721

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

12

The Hartford High Yield Municipal Bond Fund

Statement of Changes in Net Assets

(000’s Omitted)

	For the Six-Month
	Period Ended			For the
	April 30, 2009			Year Ended
	(Unaudited)			October 31, 2008
Operations:
Net investment income	$	9,033		$	11,520
Net realized loss on investments		(12,506	)		(12,685	)
Net unrealized appreciation (depreciation) of investments		8,194			(56,281	)
Net increase (decrease) in net assets resulting from operations		4,721			(57,446	)
Distributions to Shareholders:
From net investment income
Class A		(5,322	)		(6,892	)
Class B		(135	)		(156	)
Class C		(2,142	)		(2,367	)
Class I		(1,564	)		(2,152	)
Total distributions		(9,163	)		(11,567	)
Capital Share Transactions:
Class A		28,715			164,319
Class B		1,607			4,369
Class C		12,587			81,960
Class I		(1,238	)		59,280
Net increase from capital share transactions		41,671			309,928
Net increase in net assets		37,229			240,915
Net Assets:
Beginning of period		306,624			65,709
End of period	$	343,853		$	306,624
Accumulated undistributed net investment income	$	93		$	223

13

The Hartford High Yield Municipal Bond Fund

Notes to Financial Statements
April 30, 2009 (Unaudited)
(000’s Omitted)

1. Organization:

The Hartford Mutual Funds, Inc. (“Company”) is an open-end management investment company comprised of fifty-two portfolios. Financial statements for The Hartford High Yield Municipal Bond Fund (the “Fund”), a series of the Company, are included in this report.

The Company is organized under the laws of the State of Maryland and is registered with the Securities and Exchange Commission (“SEC”) under the Investment Company Act of 1940, as amended (“1940 Act”). The Fund is a non-diversified open-end management investment company.

Class A shares are sold with a front-end sales charge of up to 4.50%. Class B shares are sold with a contingent deferred sales charge which is assessed on the lesser of the per share net asset value (“NAV”) of the shares at the time of redemption or the original purchase price, and declines from up to 5.00% to zero depending on the period of time the shares are held. Class C shares are sold with a contingent deferred sales charge of up to 1.00% on shares redeemed within twelve months of purchase. Class I shares are sold without sales charges to certain eligible investors through advisory fee-based wrap programs. All classes of shares have identical voting, redemption, dividend, liquidation and other rights and the same terms and conditions, with the exceptions that each class may have different expenses, which may affect performance, and except that Class B shares automatically convert to Class A shares after 8 years.

Effective at the close of business on September 30, 2009 (the “Close Date”), no new or additional investments will be allowed in Class B shares of The Hartford Mutual Funds (including investments through any systematic investment plan). After the Close Date, existing shareholders of Class B shares may continue to hold their Class B shares, exchange their Class B shares for Class B shares of another Hartford Mutual Fund (as permitted by existing exchange privileges), and redeem their Class B shares as described in the Fund’s prospectus. Reinstatement privileges with respect to Class B shares will continue under the current policy. If you have chosen to reinvest capital gains and dividends, any such capital gains or dividends on Class B shares will continue to be reinvested in Class B shares of the Fund. For Class B shares outstanding as of the Close Date, all Class B share attributes, including the 12b-1 fee, contingent deferred sales charge schedule, and conversion to Class A shares remain unchanged.

2. Significant Accounting Policies:

The following is a summary of significant accounting policies of the Fund, which are in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”).

a)	Security Transactions and Investment Income — Security transactions are recorded on the trade date (the date the order to buy or sell is executed). Security gains and losses are determined on the basis of identified cost.
	Interest income, including amortization of premium and accretion of discounts, is accrued on a daily basis.

b) Security Valuation — The Fund generally uses market prices in valuing portfolio securities. If market prices are not readily available or are deemed unreliable, the Fund will use the fair value of the security as determined in good faith under policies and procedures established by and under the supervision of the Fund’s Board of Directors. Market prices may be deemed unreliable, for example, if a security is thinly traded or if an event has occurred after the close of the security’s primary markets, but before the close of the New York Stock Exchange (the “Exchange”) (normally 4:00 p.m. Eastern Time, referred to as the “Valuation Time”) that is expected to affect the value of the portfolio security. The circumstances in which the Fund may use fair value pricing include, among others: (i) the occurrence of events that are significant to a particular issuer, such as mergers, restructuring or defaults; (ii) the occurrence of events that are significant to an entire market, such as natural disasters in a particular region or governmental actions; (iii) trading restrictions on securities; (iv) thinly traded securities and (v) market events such as trading halts and early market closings.

14

	Debt securities (other than short-term obligations) held by the Fund are valued on the basis of valuations furnished by an independent pricing service which determines valuations for normal institutional size trading units of debt securities. Securities for which prices are not available from an independent pricing service are valued using market quotations obtained from one or more dealers that make markets in the securities in accordance with procedures established by the Fund’s Board of Directors. Generally, the Fund may use fair valuation in regard to debt securities when the Fund holds defaulted or distressed securities or securities in a company in which a reorganization is pending. Short-term investments with a maturity of more than 60 days when purchased are valued based on market quotations until the remaining days to maturity become less than 61 days. Investments that mature in 60 days or less are valued at amortized cost, which approximates market value.
	Financial instruments for which prices are not available from an independent pricing service are valued using market quotations obtained from one or more dealers that make markets in securities in accordance with procedures established by the Fund’s Board of Directors.
	Other derivative or contractual type instruments shall be valued using market prices if such instruments trade on an exchange or market. If such instruments do not trade on an exchange or market, such instruments shall be valued at a price at which the counterparty to such contract would repurchase the instrument. In the event that the counterparty cannot provide a price, such valuation may be determined in accordance with procedures established by the Fund’s Board of Directors.
	Investments in open-end mutual funds are valued at the respective NAV of each open-end mutual fund on the valuation date.
c)	Fund Share Valuation and Dividend Distributions to Shareholders — Orders for the Fund’s shares are executed in accordance with the investment instructions of the shareholders. The NAV of the Fund’s shares is determined as of the close of each business day of the Exchange. The NAV is determined separately for each class of the Fund by dividing the Fund’s net assets attributable to that class by the number of shares of the class outstanding. Orders for the purchase of the Fund’s shares prior to the close of the Exchange on any day on which the Exchange is open for business are priced at the NAV determined as of the close of the Exchange. Orders after the close of the Exchange, or on a day on which the Exchange and/or the Fund is not open for business, are priced at the next determined NAV.
	The Fund intends to distribute substantially all of its net investment income and net realized capital gains to shareholders no less frequently than once a year. Normally, dividends from net investment income are declared daily and paid monthly. Dividends are paid on shares beginning on the business day after the day when the funds used to purchase the shares are collected by the transfer agent for the Fund. Unless shareholders specify otherwise, all dividends will be automatically reinvested in additional full or fractional shares of the Fund.
	Distributions from net investment income, realized capital gains and capital are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP with respect to character and timing. These differences include but are not limited to foreign currency gains and losses, losses deferred due to wash sales adjustments, adjustments related to Passive Foreign Investment Companies and certain derivatives, and excise tax regulations. Permanent book and federal income tax basis differences relating to shareholder distributions will result in reclassifications to certain of the Fund’s capital accounts (see Federal Income Taxes: Reclassification of Capital Accounts footnote).
d)	Illiquid and Restricted Securities — The Fund is permitted to invest up to 15% of its net assets in illiquid securities. “Illiquid Securities” are those that may not be sold or disposed of in the ordinary course of business within seven days, at approximately the price used to determine the Fund’s NAV. The Fund may not be able to sell illiquid securities or other investments when its sub-adviser considers it desirable to do so or may have to sell such securities or investments at a price that is lower than the price that could be obtained if the securities or investments were more liquid. A sale of

15

The Hartford High Yield Municipal Bond Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

	illiquid securities or other investments may require more time and may result in higher dealer discounts and other selling expenses than does the sale of those that are liquid. Illiquid securities and investments also may be more difficult to value, due to the unavailability of reliable market quotations for such securities or investments, and investment in them may have an adverse impact on the Fund’s NAV. The Fund may also purchase certain restricted securities, commonly known as Rule 144A securities, that can be resold to institutions and which may be determined to be liquid pursuant to policies and guidelines established by the Fund’s Board of Directors. The Fund, as shown in the Schedule of Investments, had illiquid or restricted securities as of April 30, 2009.
e)	Securities Purchased on a When-Issued or Delayed-Delivery Basis — Delivery and payment for securities that have been purchased by the Fund on a forward commitment, or when-issued or delayed-delivery basis take place beyond the customary settlement period. During this period, such securities are subject to market fluctuations, and the Fund identifies securities segregated in its records with value at least equal to the amount of the commitment. As of April 30, 2009, the Fund had entered into outstanding when-issued or forward commitments with a cost of $3,568.
f)	Credit Risk — Credit risk depends largely on the perceived financial health of bond issuers. In general, the credit rating is inversely related to the credit risk of the issuer. Higher rated bonds generally are deemed to have less credit risk, while lower or unrated bonds are deemed to have higher risk of default. The share price, yield and total return of a Fund which holds securities with higher credit risk may fluctuate more than with less aggressive bond funds.
g)	Prepayment Risks — Certain debt securities allow for prepayment of principal without penalty. Securities subject to prepayment risk generally offer less potential for gains when interest rates decline, and may offer a greater potential for loss when interest rates rise. In addition, with respect to securities, rising interest rates may cause prepayments to occur at a slower than expected rate, thereby effectively lengthening the maturity of the security and making the security more sensitive to interest rate changes. The potential for the value of a debt security to increase in response to interest rate declines is limited. For certain securities, the actual maturity may be less than the stated maturity shown in the Schedule of Investments. As a result, the timing of income recognition relating to these securities may vary based upon the actual maturity.
h)	Use of Estimates — The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and the reported amounts of income and expenses during the period. Operating results in the future could vary from the amounts derived from management’s estimates.
i)	Financial Accounting Standards Board Financial Accounting Standards No. 157 — Effective November 1, 2008, the Fund adopted Financial Accounting Standards Board (“FASB”) Statement of Financial Accounting Standards No. 157, “Fair Value Measurements” (“FAS 157”). This standard clarifies the definition of fair value for financial reporting, establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements. Fair value is defined under FAS 157 as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Under FAS 157, a fair value measurement should reflect all of the assumptions that market participants would use in pricing the asset or liability, including assumptions about the risk inherent in a particular valuation technique, the effect of a restriction on the sale or use of an asset, and the risk of nonperformance.
	Various inputs are used in determining the value of the Fund’s investment. These inputs are summarized, per FAS 157, into three broad hierarchy levels. This hierarchy is based on whether the valuation inputs are observable or unobservable. These levels are:

• Level 1 — Quoted prices in active markets for identical securities. Level 1 includes exchange-traded instruments such as domestic equities, some foreign equities, options, futures, mutual funds, ETF’s, and rights and warrants.

16

• Level 2 — Observable inputs other than Level 1 prices, such as quoted prices for similar securities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the security. Level 2 includes debt securities that are traded less frequently than exchange-traded instruments and that are valued using third party pricing services and foreign equities, whose value is determined using a multi-factor regression model with inputs that are observable in the market; and money market instruments, which are carried at amortized cost.

• Level 3 — Significant unobservable inputs that are supported by little or no market activity. Level 3 includes financial instruments whose values are determined using broker quotes and require significant management judgment or estimation. This category includes broker quoted securities, long dated OTC options and securities where trading has been halted or there are certain restrictions on trading. While these securities are priced using unobservable inputs, the valuation of these securities reflects the best available data and management believes the prices are a good representation of exit price.

Individual securities within any of the above mentioned asset classes may be assigned a different hierarchical level than those presented above, as individual circumstances dictate.

FAS 157 also requires that a roll forward reconciliation be shown for all Level 3 securities from the beginning of the reporting period to the end of the reporting period. Part of this reconciliation includes transfers in and/or out of Level 3. For purposes of this reconciliation, transfers in are shown at the end of period fair value and transfers out are shown at the beginning of period fair value. During the six-month period ended April 30, 2009, the Fund held no Level 3 securities.

Refer to the valuation hierarchy levels summary found following the Schedule of Investments.

FASB Staff Position No. 157-4 — In April 2009, FASB released FASB Staff Position No. 157-4, “Determining Fair Value When the Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly” (“FSP FAS 157-4”). FSP FAS 157-4 provides additional guidance on determining whether a market for a financial asset is not active and a transaction is not distressed when measuring fair value under FAS 157. The FSP also requires additional disclosure detail on debt and equity securities by major investment categories. FSP FAS 157-4 is effective for interim and annual periods ending after June 15, 2009. At this time, management is evaluating the implications of FSP FAS 157-4 and does not believe it will impact valuation but will require additional disclosure. This additional disclosure has not yet been implemented.

j)

Financial Accounting Standards Board Financial Accounting Standards No. 161 — In March 2008, the FASB released Statement of Financial Accounting Standards No. 161, “Disclosures about Derivative Instruments and Hedging Activities” (“FAS 161”). FAS 161 requires companies to disclose information detailing the objectives and strategies for using derivative instruments, the level of derivative activity entered into by the company and any credit risk-related contingent features of the agreements. The application of FAS 161 is required for fiscal years and interim periods beginning after November 15, 2008. At this time, management is evaluating the implications of FAS 161 and has not yet implemented the new disclosure standard.

k)

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

3. Federal Income Taxes:

a) Federal Income Taxes — For federal income tax purposes, the Fund intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code (“IRC”) by distributing substantially all of its taxable net investment income and net realized capital gains to its shareholders and otherwise complying with the

17

The Hartford High Yield Municipal Bond Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

requirements of regulated investment companies. The Fund has distributed substantially all of its income and capital gains in prior years and the Fund intends to distribute substantially all of its income and gains during the calendar year ending December 31, 2009. Accordingly, no provision for federal income or excise taxes has been made in the accompanying financial statements. Distributions from short-term capital gains are treated as ordinary income distributions for federal income tax purposes.

b) The tax character of distributions paid by the Fund for the periods indicated is as follows (as adjusted for dividends payable):

	For the Year Ended		For the Year Ended
	October 31, 2008		October 31, 2007 *
Tax Exempt Income †	$	10,972	$	584

† The Fund designates these distributions as exempt interest pursuant to IRC Sec. 852(b)(5).

As of October 31, 2008, the Fund’s components of distributable earnings (deficit) on a tax basis were as follows:

	Amount
Undistributed Ordinary Income	$	917
Accumulated Capital Losses*	$	(13,206	)
Unrealized Depreciation†	$	(57,329	)
Total Accumulated Deficit	$	(69,618	)

*	The Fund has capital loss carryforwards that are identified in the Capital Loss Carryforward note that follows.
†	The differences between book-basis and tax-basis unrealized appreciation (depreciation) are attributable to the tax deferral of wash sales losses, the mark-to-market adjustment for certain derivatives in accordance with IRC Sec. 1256, the mark to market for Passive Foreign Investment Companies and basis differences in real estate investment trusts.

c)

Reclassification of Capital Accounts — In accordance with American Institute of Certified Public Accountants (AICPA) Statement of Position 93-2, Determination, Disclosure, and Financial Statement Presentation of Income, Capital Gain, and Return of Capital Distributions by Investment Companies, the Fund has recorded reclassifications in its capital accounts. These reclassifications had no impact on the NAV of the Fund. The reclassifications are a result of permanent differences between GAAP and tax accounting for such items as net operating losses that reduce distribution requirements. Adjustments are made to reflect the impact these items have on current and future distributions to shareholders. Therefore, the source of the Fund’s distributions may be shown in the accompanying Statement of Changes in Net Assets as from net investment income, from net realized gains on investments or from capital depending on the type of book and tax differences that exist. As of October 31, 2008, the Fund recorded reclassifications to increase undistributed net investment income by $231, decrease accumulated net realized loss by $237, and increase paid in capital by $6.

d)

Capital Loss Carryforward — At October 31, 2008 (tax-year-end), the Fund had capital loss carryforwards for U.S. federal income tax purposes of approximately:

Year	Amount
2015	$	284
2016		12,922
Total	$	13,206

18

e) Financial Accounting Standards Board Interpretation No. 48 — On July 13, 2006, the FASB released FASB Interpretation No. 48 “Accounting for Uncertainty in Income Taxes” (“FIN 48”). FIN 48 provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. The Fund adopted FIN 48 for fiscal years beginning after December 15, 2006. Management has evaluated the implications of FIN 48 for all open tax years (tax years ended October 31,
2006 – 2008) and has determined there is no impact to the Fund’s financial statements.

4. Expenses:

a) Investment Management Agreements — Hartford Investment Financial Services, LLC (“HIFSCO”) serves as investment manager to the Fund pursuant to an Investment Management Agreement with The Hartford Mutual Funds, Inc. As investment manager, HIFSCO has overall investment supervisory responsibility for the Fund. In addition, HIFSCO provides administrative personnel, services, equipment, facilities and office space for proper operation of the Fund. HIFSCO has contracted with Hartford Investment Management for the provision of day-to-day investment management services to the Fund in accordance with the Fund’s investment objective and policies. The Fund pays a fee to HIFSCO, a portion of which may be used to compensate Hartford Investment Management.

The schedule below reflects the rates of compensation paid to HIFSCO for investment management services rendered during the six-month period ended April 30, 2009; the rates are accrued daily and paid monthly:

Average Daily Net Assets	Annual Fee
On first $500 million		0.5500	%
On next $500 million		0.5000	%
On next $4 billion		0.4750	%
On next $5 billion		0.4550	%
Over $10 billion		0.4450	%

HIFSCO had voluntarily agreed to waive 0.20% of the management fees until February 28, 2009.

b) Accounting Services Agreement — Pursuant to the Fund Accounting Agreement between Hartford Life Insurance Company (“HLIC”) and the Fund, HLIC provides accounting services to the Fund and receives monthly compensation on the Fund’s average net assets. The Fund’s accounting service fees are accrued daily and paid monthly.

Average Daily Net Assets	Annual Fee
On first $5 billion		0.018	%
On next $5 billion		0.016	%
Over $10 billion		0.014	%

c) Operating Expenses — Allocable expenses incurred by the Company are allocated to each Fund and allocated to classes within the Fund in proportion to the average daily net assets of the Fund and each class, except where allocation of certain expenses is more fairly made directly to the Fund or to specific classes within a Fund. During the six-month period ended April 30, 2009, HIFSCO has contractually limited the total operating expenses of this Fund, exclusive of taxes, interest expense, brokerage commissions, certain distribution expenses and extraordinary expenses as follows:

Class A	Class B	Class C	Class I
1.00%	1.75%	1.75%	0.75%

d) Fees Paid Indirectly — The Fund’s custodian bank has agreed to reduce its fees when the Fund maintains cash on deposit in the non-interest-bearing custody account. For the six-month period ended April 30, 2009, this amount is included in the Statement of Operations.

19

The Hartford High Yield Municipal Bond Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

The ratio of expenses to average net assets in the accompanying financial highlights excludes the reduction in expenses related to fees paid indirectly. Had the fees paid indirectly been included, the annualized expense ratio for the periods listed below would have been as follows:

	Annualized
	Six-Month
	Period			Year Ended			Year Ended
	Ended April			October 31,			October 31,
	30, 2009			2008			2007
Class A Shares		0.75	%		0.40	%		0.25	%*
Class B Shares		1.57			1.19			1.00	†
Class C Shares		1.52			1.17			1.01	‡
Class I Shares		0.51			0.17			0.00	§

*	From May 31, 2007 (commencement of operations), through October 31, 2007
†	From May 31, 2007 (commencement of operations), through October 31, 2007
‡	From May 31, 2007 (commencement of operations), through October 31, 2007
§	From May 31, 2007 (commencement of operations), through October 31, 2007

e)	Distribution and Service Plan for Class A, B and C Shares — HIFSCO is the principal underwriter and distributor of the Fund. HIFSCO is engaged in distribution activities, which include marketing and distribution of shares through broker-dealers, financing distribution costs and maintaining financial books and records. For the six-month period ended April 30, 2009, HIFSCO received front-end load sales charges of $796 and contingent deferred sales charges of $97 from the Fund.
	The Fund has adopted Distribution and Service Plans in accordance with Rule 12b-1 of the Investment Company Act of 1940, as amended, to compensate the distributor (HIFSCO) for activities intended to result in the sale and distribution of Classes A, B and C shares and for providing services for shareholders. The Rule 12b-1 plan applicable to Class A shares of the Funds provides for payment of a Rule 12b-1 fee of up to 0.35% of average daily net assets; however, the Board of Directors has currently authorized 12b-1 payments of only up to 0.25%. Some or all of the fee may be used for shareholder servicing expenses with the remainder used for distribution expenses. Some or the entire Rule 12b-1 fee for Class B shares may be remitted to broker-dealers for distribution and/or shareholder account services. Under the Class B Plan, the Fund pays the distributor 1.00% of the average daily net assets of Class B shares that are outstanding for 8 years or less, 0.25% of which is a fee for services provided to existing shareholders with the remainder used for distribution expenses. After eight years, Class B shares convert to Class A shares. Upon conversion to Class A shares, the Class A plan described above will apply to those shares. Under the Class C Plan, the Fund pays the Distributor 1.00% of the average daily net assets of Class C shares outstanding, 0.25% of which is intended as a fee for services provided to existing shareholders with the remainder used for distribution expenses. For Class C shares, some or the entire fee may be remitted to broker-dealers for distribution and/or shareholder account services. The Fund’s 12b-1 fees are accrued daily and paid monthly.
	For the six-month period ended April 30, 2009, total sales commissions paid to affiliated brokers/dealers of The Hartford for distributing the Fund’s shares were $15. These commissions are in turn paid to sales representatives of the broker/dealers.
f)	Other Related Party Transactions – Certain officers of the Fund are directors and/or officers of HIFSCO and/or The Hartford or its subsidiaries. For the six-month period ended April 30, 2009, a portion of the Fund’s chief compliance officer’s salary was paid by the Fund in the amount of $1. Hartford Administrative Services Company (“HASCO”), an indirect wholly owned subsidiary of The Hartford, provides transfer agent services to the Fund. HASCO was compensated $79 for providing such services. These fees are accrued daily and paid monthly.

20

5. Investment Transactions:

For the six-month period ended April 30, 2009, the Fund’s aggregate purchases and sales of investment securities (excluding short-term investments) were as follows:

	Amount
Cost of Purchases Excluding U.S. Government Obligations	$	91,846
Sales Proceeds Excluding U.S. Government Obligations		43,755

6. Capital Share Transactions:

     The following information is for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	For the Six-Month Period Ended April 30, 2009												For the Year Ended October 31, 2008
			Shares					Shares							Shares					Shares
			Issued for					Issued		Net Increase					Issued for					Issued		Net Increase
	Shares		Reinvested		Shares			from		(Decrease) of			Shares		Reinvested		Shares			from		(Decrease) of
	Sold		Dividends		Redeemed			Merger		Shares			Sold		Dividends		Redeemed			Merger		Shares
Class A
Shares		9,579		439		(5,944	)		—		4,074			25,895		436		(7,649	)		—		18,682
Amount	$	66,559	$	3,045	$	(40,889	)	$	—	$	28,715		$	225,224	$	3,641	$	(64,546	)	$	—	$	164,319
Class B
Shares		301		11		(81	)		—		231			575		10		(84	)		—		501
Amount	$	2,086	$	74	$	(553	)	$	—	$	1,607		$	5,013	$	83	$	(727	)	$	—	$	4,369
Class C
Shares		3,092		154		(1,469	)		—		1,777			10,561		131		(1,336	)		—		9,356
Amount	$	21,635	$	1,068	$	(10,116	)	$	—	$	12,587		$	91,857	$	1,083	$	(10,980	)	$	—	$	81,960
Class I
Shares		1,850		163		(2,208	)		—		(195	)		8,828		182		(2,309	)		—		6,701
Amount	$	12,921	$	1,134	$	(15,293	)	$	—	$	(1,238	)	$	76,859	$	1,510	$	(19,089	)	$	—	$	59,280

7. Line of Credit:

The Fund is one of several Hartford Funds that participate in a $500 million committed revolving line of credit facility. The facility is to be used for temporary or emergency purposes. Under the arrangement, the Fund is required to own securities having a market value in excess of 300% of the total bank borrowings. The interest rate on borrowings varies depending on the nature of the loan. The facility also requires a fee to be paid based on the amount of the commitment. During the six-month period ended April 30, 2009, the Fund did not have any borrowings under this facility.

21

The Hartford High Yield Municipal Bond Fund

Financial Highlights – (Unaudited)

	— Selected Per-Share Data — (a)																							— Ratios and Supplemental Data —
																																	Ratio of			Ratio of			Ratio of
																																	Expenses			Expenses			Expenses
																																	to Average			to Average			to Average
																																	Net Assets			Net Assets			Net Assets
																																	Before			After			After
							Net																										Waivers			Waivers			Waivers
							Realized																										and			and			and			Ratio of
							and Un-									Distrib-							Net										Reimburse-			Reimburse-			Reimburse-			Net
			Net		Pay-		realized						Dividends			utions							Increase			Net							ments and			ments and			ments and			Invest-			Port-
	Net Asset		Invest-		ments		Gain						from Net			from		Distri-					(Decrease)			Asset					Net Assets		Including			Including			Excluding			ment			folio
	Value at		ment		from		(Loss) on			Total from			Invest-			Realized		butions		Total			in Net			Value at					at End of		Expenses			Expenses			Expenses			Income to			Turn-
	Beginning		Income		(to)		Invest-			Investment			ment			Capital		from		Distri-			Asset			End of		Total			Period		not Subject			not Subject			not Subject			Average			over
Class	of Period		(Loss)		Affiliate		ments			Operations			Income			Gains		Capital		butions			Value			Period		Return(b)			(000’s)		to Cap(c)			to Cap(c)			to Cap(c)			Net Assets			Rate(d)
For the Six-Month Period Ended April 30, 2009 (Unaudited)
A	$	7.27	$	0.21	$	—	$	(0.12	)	$	0.09		$	(0.21	)	$	—	$	—	$	(0.21	)	$	(0.12	)	$	7.15		1 .42	%(e)	$	197,684		0 .91	%(f)		0 .75	%(f)		0 .75	%(f)		6 .15	%(f)		16	%
B		7.26		0.18		—		(0.10	)		0.08			(0.19	)		—		—		(0.19	)		(0.11	)		7.15		1 .15	(e)		6,241		1 .73	(f)		1 .57	(f)		1 .57	(f)		5 .33	(f)		—
C		7.27		0.18		—		(0.11	)		0.07			(0.19	)		—		—		(0.19	)		(0.12	)		7.15		1 .03	(e)		88,144		1 .68	(f)		1 .52	(f)		1 .52	(f)		5 .38	(f)		—
I		7.27		0.22		—		(0.11	)		0.11			(0.22	)		—		—		(0.22	)		(0.11	)		7.16		1 .65	(e)		51,784		0 .67	(f)		0 .51	(f)		0 .51	(f)		6 .38	(f)		—
For the Year Ended October 31, 2008
A		9.46		0.49		—		(2.19	)		(1.70	)		(0.49	)		—		—		(0.49	)		(2.19	)		7.27		(18.60	)		171,281		0.92			0.40			0.40			5.61			65
B		9.46		0.42		—		(2.19	)		(1.77	)		(0.43	)		—		—		(0.43	)		(2.20	)		7.26		(19.36	)		4,664		1.73			1.19			1.19			4.81			—
C		9.46		0.42		—		(2.18	)		(1.76	)		(0.43	)		—		—		(0.43	)		(2.19	)		7.27		(19.24	)		76,650		1.70			1.17			1.17			4.86			—
I		9.47		0.51		—		(2.19	)		(1.68	)		(0.52	)		—		—		(0.52	)		(2.20	)		7.27		(18.50	)		54,029		0.69			0.17			0.17			5.84			—
From (commencement of operations) May 31, 2007, through October 31, 2007
A(g)		10.00		0.20		—		(0.54	)		(0.34	)		(0.20	)		—		—		(0.20	)		(0.54	)		9.46		(3 .41	) (e)		46,261		1 .03	(f)		0 .25	(f)		0 .25	(f)		4 .83	(f)		23
B(h)		10.00		0.17		—		(0.54	)		(0.37	)		(0.17	)		—		—		(0.17	)		(0.54	)		9.46		(3 .71	) (e)		1,333		1 .82	(f)		1 .00	(f)		1 .00	(f)		4 .05	(f)		—
C(i)		10.00		0.17		—		(0.54	)		(0.37	)		(0.17	)		—		—		(0.17	)		(0.54	)		9.46		(3 .71	) (e)		11,236		1 .81	(f)		1 .00	(f)		1 .00	(f)		4 .19	(f)		—
I(j)		10.00		0.21		—		(0.53	)		(0.32	)		(0.21	)		—		—		(0.21	)		(0.53	)		9.47		(3 .21	) (e)		6,879		0 .80	(f)		–	(f)		–	(f)		5 .22	(f)		—

(a)	Information presented relates to a share outstanding throughout the indicated period.
(b)	Assumes initial investment at net asset value at the beginning of each period, reinvestment of all distributions, the complete redemption of the investment at net asset value at the end of each period and no sales charge. Total return would be reduced if sales charges were taken into account.
(c)	Ratios do not include fees paid indirectly (See Expenses in the accompanying Notes to Financial Statements).
(d)	Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between the classes of shares issued.
(e)	Not annualized.
(f)	Annualized.
(g)	Commenced operations on May 31, 2007.
(h)	Commenced operations on May 31, 2007.
(i)	Commenced operations on May 31, 2007.
(j)	Commenced operations on May 31, 2007.

22

The Hartford High Yield Municipal Bond Fund

Directors and Officers (Unaudited)

The Board of Directors appoints officers who are responsible for the day-to-day operations of the Fund and who execute policies formulated by the Directors. Each director serves until his or her death, resignation, or retirement or until the next annual meeting of shareholders is held or until his or her successor is elected and qualifies.

Directors and officers who are employed by or who have a financial interest in The Hartford are considered “interested” persons of the Fund pursuant to the Investment Company Act of 1940, as amended. Each officer and three of the Fund’s directors, as noted in the chart below, are “interested” persons of the Fund. Each director serves as a director for The Hartford Mutual Funds, Inc., The Hartford Mutual Funds II, Inc., The Hartford Income Shares Fund, Inc., Hartford Series Fund, Inc., and Hartford HLS Series Fund II, Inc., which collectively consist of 100 funds. Correspondence may be sent to directors and officers c/o Hartford Mutual Funds, P.O. Box 2999, Hartford, Connecticut 06104-2999, except that correspondence to Ms. Fagely may be sent to 500 Bielenberg Drive, Woodbury, Minnesota 55125.

The table below sets forth, for each director and officer, his or her name, year of birth, current position with the Fund and date first elected or appointed to The Hartford Mutual Funds, Inc. (“MF”) and The Hartford Mutual Funds II, Inc. (“MF2”), principal occupation, and, for directors, other directorships held. The Fund’s statement of additional information contains further information on the directors and is available free of charge by calling 1-888-843-7824 or writing to Hartford Mutual Funds, P.O. Box 64387, St. Paul, MN 55164-0387.

Information on the aggregate remuneration paid to the directors of the Fund can be found in the Statement of Operations herein. The Fund pays a portion of the Chief Compliance Officer’s compensation, but does not pay salaries or compensation to any of its officers or directors who are employed by The Hartford.

Non-Interested Directors

Lynn S. Birdsong (1946) Director since 2003, Co-Chairman of the Investment Committee

Mr. Birdsong is a private investor. Since 1981, Mr. Birdsong has been a partner in Birdsong Company, an advertising specialty firm. Since 2003, Mr. Birdsong has been an independent director of The Japan Fund. From 2003 to March 2005, Mr. Birdsong was an independent director of the Atlantic Whitehall Funds. From 1979 to 2002, Mr. Birdsong was a managing director of Zurich Scudder Investments, an investment management firm. During his employment with Scudder, Mr. Birdsong was an interested director of The Japan Fund.

Robert M. Gavin, Jr. (1940) Director since 2002 (MF) and 1986 (MF2), Chairman of the Board since 2004

Dr. Gavin is an educational consultant. Prior to September 1, 2001, he was President of Cranbrook Education Community and prior to July 1996, he was President of Macalester College, St. Paul, Minnesota.

Duane E. Hill (1945) Director since 2001 (MF) and 2002 (MF2), Chairman of the Nominating Committee

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

Sandra S. Jaffee (1941) Director since 2005

Ms. Jaffee is Chairman and Chief Executive Officer of Fortent (formerly Searchspace Group), a leading provider of compliance/regulatory technology to financial institutions. Ms. Jaffee served as an Entrepreneur in Residence with Warburg Pincus, a private equity firm, from August 2004 to August 2005. From September 1995 to July 2004, Ms. Jaffee served as Executive Vice President at Citigroup, where she was President and Chief Executive Officer of Citibank’s Global Securities Services (1995-2003).

William P. Johnston (1944) Director since 2005, Chairman of the Compliance Committee

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

23

The Hartford High Yield Municipal Bond Fund
Directors and Officers (Unaudited) — (continued)

Phillip O. Peterson (1944) Director since 2002 (MF) and 2000 (MF2), Chairman of the Audit Committee

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

Lemma W. Senbet (1946) Director since 2005

Dr. Senbet is the William E. Mayer Chair Professor of Finance at the University of Maryland, Robert H. Smith School of Business. He was chair of the Finance Department during 1998-2006. Previously he was an endowed professor of finance at the University of Wisconsin-Madison. Also, he was director of the Fortis Funds from March 2000-July 2002. Dr. Senbet served the finance profession in various capacities, including as director of the American Finance Association and President of the Western Finance Association. In 2006, Dr. Senbet was inducted Fellow of Financial Management Association International for his career-long distinguished scholarship and professional service.

Interested Directors and Officers

Thomas M. Marra* (1958) Director since 2002

Mr. Marra has served as President and Chief Operating Officer of The Hartford Financial Services Group, Inc. (“The Hartford”) since 2007. Mr. Marra currently serves as Director of Hartford Life, Inc. (“HL, Inc.”). Mr. Marra served as Chief Operating Officer of Hartford Life Insurance Company, Inc. (“Hartford Life”) (2000-2008), as President of Hartford Life (2002-2008) and as Director of Hartford Life’s Investment Products Division from 1998 to 2000.

*    On February 24, 2009, The Hartford and Mr. Marra determined to enter into a mutually agreed separation whereby Mr. Marra will retire, and his role as an executive officer and employee of The Hartford will terminate, effective July 3, 2009. Mr. Marra will resign his position as a Director of the Fund effective June 25, 2009.

Lowndes A. Smith (1939) Director since 2002, Co-Chairman of the Investment Committee

Mr. Smith served as Vice Chairman of The Hartford from February 1997 to January 2002, as President and Chief Executive Officer of Hartford Life, Inc. from February 1997 to January 2002, and as President and Chief Operating Officer of The Hartford Life Insurance Companies from January 1989 to January 2002. Mr. Smith serves as a Director of White Mountains Insurance Group, Ltd., One Beacon Insurance, Symetra Financial and as a Managing Director of Whittington Gray Associates.

John C. Walters* (1962) Director since 2008

Mr. Walters currently serves as Chief Executive Officer, President and Director of HL, Inc. Mr. Walters previously served as President of the U.S. Wealth Management Division of Hartford Life, Inc., as Co-Chief Operating Officer of Hartford Life Insurance Company (2007-2008) and as Executive Vice President and Director of its Investment Products Division (2000-2008). Mr. Walters also serves as Chairman of the Board, Chief Executive Officer, President and Director of Hartford Life Insurance Company and as Executive Vice President of The Hartford. In addition, Mr. Walters is Manager of HL Investment Advisors, LLC (“HL Advisors”).

*    Mr. Walters previously served as President and Chief Executive Officer of the Fund (2007 — 2009).

Other Officers

Robert M. Arena, Jr. (1968) President and Chief Executive Officer since 2009 (served as Vice President of the Fund (2006 — 2009))

Mr. Arena serves as Executive Vice President of Hartford Life Insurance Company, (“Hartford Life”). Additionally, Mr. Arena is Director and Senior Vice President of Hartford Administrative Services Company, (“HASCO”), Manager, Chief Executive Officer and President of Hartford Investment Financial Services, LLC (“HIFSCO”) and HL Advisors. Prior to joining The Hartford in 2004, he was Senior Vice President in charge of Product Management for American Skandia/Prudential in the individual annuities division. Mr. Arena joined American Skandia in 1996.

Tamara L. Fagely (1958) Vice President, Treasurer and Controller since 2002 (MF) 1993 (MF2)

Ms. Fagely has been a Vice President of HASCO since 1998 and Chief Financial Officer since 2006. Currently Ms. Fagely is a Vice President of Hartford Life. She served as Assistant Vice President of Hartford Life from December 2001 through March 2005. In addition, Ms. Fagely is Controller and Chief Financial Officer of HIFSCO.

Brian Ferrell (1962) AML Compliance Officer since 2008

Mr. Ferrell has served as Assistant Vice President and AML Compliance Officer for The Hartford since 2006 and as AML Compliance Officer for HASCO and Hartford Investor Services Company, LLC (“HISC”) since 2008. Prior to joining The Hartford in 2006, Mr. Ferrell held various positions at the U.S. Department of the Treasury, (the “Treasury”), from 2001 to 2006 where he served as Chief Counsel for the Treasury’s Financial Crimes Enforcement Network, (“FinCEN”) from 2005 — 2006.

24

Thomas D. Jones, III (1965) Vice President and Chief Compliance Officer since 2006

Mr. Jones serves as Chief Compliance Officer for the Hartford Mutual Funds and Vice President and Director of Securities Compliance for The Hartford. He is also Vice President of HIFSCO, HL Advisors, and Hartford Life Insurance Company. Mr. Jones joined The Hartford in 2006 from SEI Investments, where he served as Chief Compliance Officer for its mutual funds and investment advisers. Prior to joining SEI, Mr. Jones was First Vice President and Compliance Director for Merrill Lynch Investment Managers (Americas) (“MLIM”), where he worked from 1992-2004. At MLIM, Mr. Jones was responsible for the compliance oversight of various investment products, including mutual funds, wrap accounts, institutional accounts and alternative investments.

Edward P. Macdonald (1967) Vice President, Secretary and Chief Legal Officer since 2005

Mr. Macdonald serves as Assistant General Counsel and Assistant Vice President of The Hartford and Chief Legal Officer and Vice President of HIFSCO. He also serves as Vice President and Secretary of HASCO, Assistant Vice President of Hartford Life, and Chief Legal Officer, Secretary and Vice President of HL Advisors. Prior to joining The Hartford in 2005, Mr. Macdonald was Chief Counsel, Investment Management for Prudential Financial (formerly American Skandia Investment Services, Inc.). He joined Prudential in April 1999.

Vernon J. Meyer (1964) Vice President since 2006

Mr. Meyer serves as Senior Vice President of Hartford Life and as Director of its Investment Advisory Group in the Individual Markets Group segment. He also serves as Senior Vice President of HIFSCO and HL Advisors. Prior to joining The Hartford in 2004, Mr. Meyer was with MassMutual which he joined in 1987.

D. Keith Sloane (1960) Vice President since 2009

Mr. Sloane is a Senior Vice President of Hartford Life where he serves as Director of mutual fund product management for The Hartford’s mutual funds and 529 college savings businesses. Additionally, Mr. Sloane currently serves as Senior Vice President of HIFSCO, HL Advisors, and HASCO. Prior to joining The Hartford in 2007, Mr. Sloane was Director of product marketing and led the mutual fund business for Wachovia Securities (“Wachovia”) in their investment products group. Mr. Sloane joined Wachovia in 1995.

Jane Wolak (1961) Vice President since 2009

Ms. Wolak currently serves as Vice President of Hartford Life. Ms. Wolak joined Hartford Life as Vice President, Retail Product Services in May 2007. She is also Vice President of HASCO. Previously, Ms. Wolak was with Sun Life Financial where she held the position of Vice President, Service Center Operations from 2001 — 2007.

HOW TO OBTAIN A COPY OF THE FUND’S PROXY VOTING POLICIES AND VOTING RECORDS

A description of the policies and procedures that the Fund uses to determine how to vote proxies relating to portfolio securities and a record of how the Fund voted any proxies for the twelve-month period ended June 30, 2008 is available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov.

QUARTERLY PORTFOLIO HOLDINGS INFORMATION

The Fund files a complete schedule of portfolio holdings with the Commission for the first and third quarters of each fiscal year on Form N-Q. The Fund’s Forms are available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov. The Form N-Q may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330.

25

The Hartford High Yield Municipal Bond Fund

Expense Example (Unaudited)

Your Fund’s Expenses

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments and contingent deferred sales charges (CDSC) (2) ongoing costs including management fees; distribution fees; and other fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the period of October 31, 2008 through April 30, 2009.

Actual Expenses

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

Hypothetical Example for Comparison Purposes

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

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads) and CDSC. Therefore, the second line 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 are equal to the Fund’s annualized expense ratios multiplied by average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

	Actual return						Hypothetical (5% return before expenses)
					Expenses paid						Expenses paid					Days in
					during the period						during the period					the		Days
	Beginning		Ending Account		October 31, 2008		Beginning		Ending Account		October 31,		Annualized			current		in the
	Account Value		Value		through		Account Value		Value		2008 through		expense			1/2		full
	October 31, 2008		April 30, 2009		April 30, 2009		October 31, 2008		April 30, 2009		April 30, 2009		ratio			year		year
Class A	$	1,000.00	$	1,014.22	$	3.74	$	1,000.00	$	1,021.07	$	3.75		0.75	%		181		365
Class B	$	1,000.00	$	1,011.53	$	7.83	$	1,000.00	$	1,017.00	$	7.85		1.57			181		365
Class C	$	1,000.00	$	1,010.30	$	7.57	$	1,000.00	$	1,017.25	$	7.60		1.52			181		365
Class I .	$	1,000.00	$	1,016.45	$	2.54	$	1,000.00	$	1,022.26	$	2.55		0.51			181		365

26

The Hartford Income Fund

Table of Contents

Manager Discussions (Unaudited)	2
Financial Statements
Schedule of Investments at April 30, 2009 (Unaudited)	4
Statement of Assets and Liabilities at April 30, 2009 (Unaudited)	13
Statement of Operations for the Six Month Period Ended April 30, 2009 (Unaudited)	14
Statement of Changes in Net Assets for the Six Month Period Ended April 30, 2009 (Unaudited) and the Year Ended October 31, 2008	15
Notes to Financial Statements (Unaudited)	16
Financial Highlights (Unaudited)	27
Directors and Officers (Unaudited)	28
How to Obtain a Copy of the Fund’s Proxy Voting Policies and Proxy Voting Records (Unaudited)	30
Quarterly Portfolio Holdings Information (Unaudited)	30
Expense Example (Unaudited)	31

The Hartford Income Fund
(subadvised by Hartford Investment Management Company)

Performance Overview(1) 10/31/02 — 4/30/09
Growth of a $10,000 investment in Class A which includes Sales Charge

Barclays Capital U.S. Aggregate Bond Index is an unmanaged index and is composed of securities from the Barclays Capital Government/Credit Bond Index, Mortgage-Backed Securities Index, Asset-Backed Securities Index and Commercial Mortgage-Backed Securities Index.

You cannot invest directly in an index.

The value of shares will fluctuate so that, when redeemed, shares may be worth more or less than their original cost. The chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.

Investment objective — Seeks to provide a high level of current income. Capital appreciation is a secondary objective.

Average Annual Total Returns (2, 3) (as of 4/30/09)

	Inception		1			5			Since
	Date		Year			Year			Inception
Income A#		10/31/02		-7.56	%		1.46	%		3.03	%
Income A##		10/31/02		-11.72	%		0.53	%		2.31	%
Income B#		10/31/02		-8.35	%		0.67	%		2.26	%
Income B##		10/31/02		-12.70	%		0.34	%		2.26	%
Income C#		10/31/02		-8.35	%		0.67	%		2.29	%
Income C##		10/31/02		-9.22	%		0.67	%		2.29	%
Income Y#		11/28/03		-7.31	%		1.68	%		1.85	%

#	Without sales charge
##	With sales charge

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)	Growth of a $10,000 investment in Classes B, C and Y shares will vary from results seen above due to differences in the expenses charged to these share classes.
(2)	The initial investment in Class A shares reflects the maximum sales charge and Classes B and C reflect CDSC.
(3)	Total returns presented above were calculated using the Fund’s net asset value available to shareholders for sale or redemption of Fund shares on April 30, 2009, which excludes investment transactions as of this date.

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

Portfolio Managers
William H. Davison, Jr.	Michael Gray, CFA	Christopher J. Zeppieri, CFA
Managing Director	Managing Director	Vice President

How did the Fund perform?

The Class A shares of The Hartford Income Fund returned 7.09%, before sales charge, for the six-month period ended April 30, 2009, versus its benchmark, Barclays Capital U.S. Aggregate Bond Index, which returned 7.74%, and the 5.41% average return of the Lipper Corporate Debt A-Rated Funds category, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

Risk premiums (the additional compensation paid to investors to tolerate the increased level of risk in a given asset class relative to Treasuries) saw a slight recovery in the beginning of 2009 as the government announced several initiatives to support financial and consumer credit markets. Programs included the expansion of Term Asset-Backed Loan Facility (TALF) and the introduction of the Public-Private Investment Program (PPIP) which was designed to remove toxic assets from banks’ balance sheets. Highly rated securities in asset backed securities (ABS) and commercial mortgage backed securities (CMBS) sectors benefited from this government action, while investment grade financial debt continued to underperform as the fate of the banking sector remained uncertain.

The Federal Open Market Committee (the Fed) continued to target the overnight Fed funds rate at just above 0%. This accommodative policy kept short maturity Treasury yields low. Longer maturity Treasury yields declined by year end then rose over the January to April time frame. The funding requirements of the government have grown with the introduction of additional

2

stimulus programs and excess supply concerns pushed Treasury yields higher. The concern over excess supply was partially offset with the announcement that the Treasury would purchase these securities outright, but the supply/demand imbalance uncertainty remained. Moreover, concerns of current stimulus leading to future inflation left many market participants backing away from longer duration (i.e. sensitivity to changes in interest rates) securities. As a result, the curve steepened (i.e. short and long term interest rates moved farther apart).

The primary driver of the Fund’s underperformance relative (i.e. performance of the Fund as measured against the benchmark) to its benchmark for the period was security selection. Primarily these were securities within mortgage backed securities (MBS), and CMBS. Problems in the housing sector continued to prove troublesome to the mortgage market. This was despite the Fed’s efforts to keep mortgage rates low and relieve pressure in the sector.

The Fund’s performance was buoyed slightly by strong performance in out-of-benchmark bonds. Despite worsening economic data and increasing default rates, the high yield market rallied significantly in the beginning of 2009. An out-of-benchmark allocation to the high yield sector was the top contributor of performance for the period.

The Fund was also slightly overweight (i.e. the Fund’s sector position was greater than the benchmark position) in investment grade corporate bonds, with a sector bias towards Industrial bonds. This also proved to be beneficial as these bonds rallied later in the period.

What is the outlook?

Risk premiums across most asset classes reversed course and began to contract as conditions improved and volatility declined. An onslaught of government policy, from fiscal stimulus to quantitative easing, was the primary catalyst and buyers of historically inexpensive corporate debt emerged as more market participants recognized relative value versus equities. Although risk premiums have come off their historical peak, spreads remain significantly wider (i.e. short and long term interest rates farther apart) than in prior recessions.

Government actions have significantly increased the attractiveness of select ABS and CMBS. Although these asset classes still face a precarious fundamental environment, the pricing at the top of the capital structure in many of these investments is indicative of an environment far worse than what we expect. Moreover, recognizing the importance of these markets, the government has initiated policy to facilitate a broader buyer base and investor interest. The TALF and the PPIP will likely contribute to continued spread tightening (i.e. short and long term interest rates moving closer together) as these plans are further implemented.

The U.S. Treasury yield curve is expected to remain in a limited range in the near term. We expect the economy to remain weak through the rest of the year.

Distribution by Credit Quality

as of April 30, 2009

	Percentage of
	Long Term
Rating	Holdings
AAA		48.2	%
AA		5.2
A		15.1
BBB		16.3
BB		9.1
B		5.6
CCC		0.3
D		0.2
Total		100.0	%

Diversification by Industry
as of April 30, 2009

	Percentage of
Industry	Net Assets
Basic Materials		3.3	%
Capital Goods		1.9
Consumer Cyclical		2.1
Consumer Staples		2.1
Energy		4.3
Finance		20.0
Foreign Governments		1.5
Health Care		4.6
Services		3.7
Technology		9.5
Transportation		0.4
U.S. Government Agencies		28.2
U.S. Government Securities		5.9
Utilities		4.8
Short-Term Investments		6.9
Other Assets and Liabilities		0.8
Total		100.0	%

3

The Hartford Income Fund

Schedule of Investments
April 30, 2009 (Unaudited)
(000’s Omitted)

Shares or Principal Amount			Market Value ╪
ASSET & COMMERCIAL MORTGAGE BACKED SECURITIES — 8.2%
		Finance - 8.2%
		Banc of America Commercial Mortgage, Inc.
$	2,557	5.50%, 11/10/2039 ⌂►	$	43
	6,646	5.75%, 06/10/2039 ⌂►		31
		Bayview Commercial Asset Trust
	200	0.81%, 04/25/2036 ⌂ Δ		80
	5,420	7.00%, 07/25/2037 ⌂►		298
	9,917	7.50%, 09/25/2037 ⌂►		883
		Bear Stearns Commercial Mortgage Securities, Inc.
	540	5.12%, 02/11/2041 Δ		465
	1,650	5.15%, 10/12/2042 Δ		1,437
	1,700	5.33%, 02/11/2044		1,384
	530	5.41%, 12/11/2040		471
	600	5.72%, 09/11/2038 Δ		517
		Capital Automotive Receivables Asset Trust
	50	5.77%, 05/20/2010 ⌂		49
		CBA Commercial Small Balance Commercial Mortgage
	4,976	7.00%, 07/25/2035 - 06/25/2038 ⌂► †		355
	6,177	9.75%, 01/25/2039 ⌂►		618
		Chase Issuance Trust
	360	5.12%, 10/15/2014		366
		Citigroup Commercial Mortgage Trust
	510	5.43%, 10/15/2049		419
		Citigroup Mortgage Loan Trust, Inc.
	200	3.02%, 01/25/2037 ⌂ Δ		2
		Commercial Mortgage Pass-Through Certificates
	4,989	5.50%, 03/10/2039 ⌂►		79
		Countrywide Asset-Backed Certificates
	43	5.46%, 07/25/2035		17
		Credit-Based Asset Servicing and Securitization
	197	0.71%, 05/25/2036 ⌂ Δ		86
		CS First Boston Mortgage Securities Corp.
	290	5.23%, 12/15/2040		248
		Equity One ABS, Inc.
	3	2.94%, 07/25/2034 ⌂ Δ		—
	27	5.46%, 12/25/2033		9
		Ford Credit Automotive Owner Trust
	600	4.28%, 05/15/2012		599
		GE Business Loan Trust
	8,112	6.14%, 05/15/2034 ⌂►		21
		GE Capital Commercial Mortgage Corp.
	330	5.05%, 07/10/2045 Δ		311
	54,202	6.35%, 11/10/2045 ⌂►		45
		GMAC Commercial Mortgage Securities, Inc.
	200	5.30%, 08/10/2038		179
		GMAC Mortgage Corp. Loan Trust
	270	5.75%, 10/25/2036 ⌂		156
		Green Tree Financial Corp.
	3	7.30%, 01/15/2026		3
	8	7.35%, 05/15/2027		8
		Greenwich Capital Commercial Funding Corp.
	198	1.69%, 11/05/2021 ⌂• Δ		1
	189	1.89%, 11/05/2021 ⌂• Δ		1
	510	4.80%, 08/10/2042		425
	390	5.92%, 07/10/2038 Δ		326
		JP Morgan Automotive Receivable Trust
	75	12.85%, 03/15/2012 ⌂†		21
		JP Morgan Chase Commercial Mortgage Securities Corp.
	1,550	5.18%, 12/15/2044 Δ		1,337
	550	5.34%, 05/15/2047		425
	240	5.40%, 05/15/2045		186
	502	5.47%, 04/15/2043 Δ		386
	2,088	5.50%, 01/15/2038 ⌂►		41
	190	6.16%, 05/12/2034		190
		LB-UBS Commercial Mortgage Trust
	20,961	5.26%, 06/15/2036 ⌂►		30
		Lehman Brothers Small Balance Commercial
	120	5.62%, 09/25/2036 ⌂		100
		Long Beach Asset Holdings Corp.
	45	5.78%, 04/25/2046 ⌂ •		—
		Marlin Leasing Receivables LLC
	440	5.33%, 09/16/2013 ■		433
		Morgan Stanley Capital I
	560	4.70%, 07/15/2056		491
	540	5.01%, 01/14/2042		495
	700	5.65%, 12/15/2044		578
		Nationstar Home Equity Loan Trust
	22	9.97%, 03/25/2037 ⌂Δ		1
		Option One Mortgage Loan Trust, Class M6
	725	6.99%, 03/25/2037 ⌂		45
		Option One Mortgage Loan Trust, Class M7
	500	6.99%, 03/25/2037 ⌂		25
		Option One Mortgage Loan Trust, Class M8
	475	6.99%, 03/25/2037 ⌂		19
		PSE&G Transition Funding LLC
	70	6.61%, 06/15/2015		77
		Renaissance Home Equity Loan Trust
	80	5.75%, 05/25/2036 ⌂Δ		59
	200	6.16%, 05/25/2036 ⌂		36
		Renaissance Home Equity Loan Trust, Class M5
	600	7.00%, 09/25/2037 ⌂		33
		Renaissance Home Equity Loan Trust, Class M8
	750	7.00%, 09/25/2037 ⌂		25
		USAA Automotive Owner Trust
	845	5.36%, 06/15/2012		865
		Wachovia Automotive Loan Owner Trust
	250	5.15%, 07/20/2012 ⌂		229
	260	5.29%, 06/20/2012 ⌂		241
		Wachovia Bank Commercial Mortgage Trust
	505	5.31%, 11/15/2048		397
	6,117	5.50%, 02/15/2041 ⌂►		99
		Wamu Commercial Mortgage Securities Trust
	1,220	6.31%, 03/23/2045 ⌂Δ		305
		Wells Fargo Alternative Loan Trust
	942	6.25%, 11/25/2037 ⌂		508
				17,609

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

4

Shares or Principal Amount			Market Value ╪
ASSET & COMMERCIAL MORTGAGE BACKED SECURITIES — 8.2% — (continued)
		Utilities — 0.0%
		Detroit Edison Securitization
$	52	6.19%, 03/01/2013	$	54
		Total asset & commercial mortgage backed securities (cost $23,158)	$	17,663
CORPORATE BONDS: INVESTMENT GRADE — 35.0%
		Basic Materials — 1.8%
		Alcan, Inc.
$	240	6.13%, 12/15/2033	$	163
		Anglo American Capital plc
	1,138	9.38%, 04/08/2014 - 04/08/2019 ■		1,175
		Barrick Gold Corp.
	170	6.95%, 04/01/2019		180
		Kimberly-Clark Corp.
	925	7.50%, 11/01/2018		1,081
		Rio Tinto Finance USA Ltd.
	1,115	5.88%, 07/15/2013		1,051
	265	9.00%, 05/01/2019		273
				3,923
		Capital Goods — 1.6%
		Hutchison Whampoa International Ltd.
	200	6.25%, 01/24/2014 ■		205
	400	7.63%, 04/09/2019 ■		393
		Tyco Electronics Group S.A.
	428	6.00%, 10/01/2012		390
	763	6.55%, 10/01/2017		587
		Tyco International Ltd.
	792	8.50%, 01/15/2019		848
		United Technologies Corp.
	656	6.13%, 02/01/2019		707
		Xerox Corp.
	205	6.35%, 05/15/2018		166
				3,296
		Consumer Cyclical — 0.9%
		CRH America, Inc.
	1,000	5.63%, 09/30/2011		901
	330	8.13%, 07/15/2018		275
		Safeway, Inc.
	445	5.80%, 08/15/2012		461
	270	6.25%, 03/15/2014		287
				1,924
		Consumer Staples — 1.7%
		Altria Group, Inc.
	790	10.20%, 02/06/2039		870
		Anheuser-Busch Cos., Inc.
	280	8.20%, 01/15/2039 ■		280
		Anheuser-Busch InBev N.V.
	955	7.75%, 01/15/2019 ■		1,000
		General Mills, Inc.
	1,010	5.70%, 02/15/2017		1,037
		Unilever Capital Corp.
	500	4.80%, 02/15/2019		505
				3,692
		Energy — 3.9%
		Chevron Corp.
	535	4.95%, 03/03/2019		546
		ConocoPhillips
	875	6.50%, 02/01/2039		867
		Consumers Energy Co.
	725	6.70%, 09/15/2019		765
		Diamond Offshore Drilling, Inc.
	156	5.88%, 05/01/2019		156
		EnCana Corp.
	110	6.50%, 05/15/2019		110
		Gazprom International S.A.
	113	7.20%, 02/01/2020 §		102
		Marathon Oil Corp.
	285	6.50%, 02/15/2014		296
		Nabors Industries, Inc.
	537	9.25%, 01/15/2019 ■		507
		Ras Laffan Liquefied Natural Gas Co., Ltd.
	1,500	5.30%, 09/30/2020 ■		1,299
		Sempra Energy
	588	9.80%, 02/15/2019		671
		Shell International Finance B.V.
	570	6.38%, 12/15/2038		607
		Statoilhydro ASA
	998	5.25%, 04/15/2019		1,021
		TNK-BP Finance S.A.
	200	7.50%, 03/13/2013 ■		166
		Valero Energy Corp.
	1,120	6.63%, 06/15/2037		887
	385	9.38%, 03/15/2019		430
				8,430
		Finance — 11.1%
		ABX Financing Co.
	365	6.35%, 10/15/2036 ■		290
		American Real Estate Partners L.P.
	390	7.13%, 02/15/2013		328
		Arden Realty L.P.
	150	5.20%, 09/01/2011		149
		BAE Systems Holdings, Inc.
	1,443	6.40%, 12/15/2011 ■		1,519
		Bank of America Corp.
	2,000	2.10%, 04/30/2012		2,013
		BP Capital Markets plc
	609	5.25%, 11/07/2013		657
		Citigroup, Inc.
	550	2.13%, 04/30/2012		553
	647	8.30%, 12/21/2057 Δ		394
		Comerica Capital Trust II
	1,066	6.58%, 02/20/2037 ‡Δ		388
		Corpoacion Andina De Fomento
	65	5.20%, 05/21/2013		62
	77	5.75%, 01/12/2017		64
		COX Communications, Inc.
	350	6.25%, 06/01/2018 ■		322
	300	8.38%, 03/01/2039 ■		291
		Credit Agricole S.A.
	1,115	6.64%, 05/31/2017 ■ª Δ		534
		Deutsche Bank Capital Funding Trust
	90	5.63%, 01/19/2016 ■ª		42
		ERAC USA Finance Co.
	946	5.60%, 05/01/2015 ■		730
		Goldman Sachs Capital Trust II
	2,007	5.79%, 06/01/2012 ªΔ		993

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

5

The Hartford Income Fund
Schedule of Investments — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

Shares or Principal Amount			Market Value ╪
CORPORATE BONDS: INVESTMENT GRADE — 35.0% — (continued)
		Finance — 11.1% — (continued)
		Goldman Sachs Group, Inc.
$	125	5.15%, 01/15/2014	$	122
	238	6.00%, 05/01/2014		238
		ILFC E-Capital Trust II
	4,410	6.25%, 12/21/2065■Δ		662
		International Lease Finance Corp.
	669	6.38%, 03/25/2013		409
		Jackson National Life Global Funding
	980	5.38%, 05/08/2013■		868
		JP Morgan Chase & Co.
	850	5.13%, 09/15/2014		787
	640	6.30%, 04/23/2019		630
	710	7.90%, 04/30/2018ª		540
		JP Morgan Chase Capital II
	210	1.67%, 02/01/2027Δ		86
		Lincoln National Corp.
	530	6.05%, 04/20/2067		154
		Lloyds Banking Group plc
	500	5.92%, 10/01/2015 ■ª		138
		MBNA America Bank N.A.
	1,005	7.13%, 11/15/2012 ■		916
		Mellon Capital IV
	764	6.24%, 06/20/2012ªΔ		424
		National City Corp.
	912	12.00%, 12/10/2012 ª		789
		Northgroup Preferred Capital Corp.
	638	6.38%, 10/15/2017 ⌂ª Δ		373
		PNC Preferred Funding Trust II
	1,600	6.11%, 03/15/2012 ■ª Δ		531
		Pricoa Global Funding I
	490	1.14%, 01/30/2012 ■Δ		367
		Progressive Corp.
	225	6.70%, 06/15/2037Δ		111
		Prudential Financial, Inc.
	905	8.88%, 06/15/2038 Δ		489
		Shurgard Storage Centers, Inc.
	75	5.88%, 03/15/2013		68
		State Street Capital Trust III
	560	8.25%, 03/15/2042 Δ		381
		State Street Capital Trust IV
	735	2.32%, 06/15/2037 Δ		297
		Transcapitalinvest Ltd.
	400	5.67%, 03/05/2014 §		317
		UBS Preferred Funding Trust I
	1,920	8.62%, 10/01/2010ª		962
		Unicredito Italiano Capital Trust
	920	9.20%, 10/05/2010 ■ª		432
		UnitedHealth Group, Inc.
	1,038	4.88%, 02/15/2013		1,012
		US Bank Realty Corp.
	725	6.09%, 01/15/2012 ■ªΔ		326
		USB Capital IX
	1,300	6.19%, 04/15/2011 ªΔ		721
		Wells Fargo Bank NA
	555	1.45%, 05/16/2016 Δ		378
		Wells Fargo Capital XIII
	272	7.70%, 03/26/2013 ªΔ		174
		Westfield Group
	500	5.70%, 10/01/2016 ■		403
		Westpac Capital Trust IV
	100	5.26%, 03/31/2016 ª■		51
		ZFS Finance USA Trust I
	721	6.50%, 05/09/2037 ■Δ		389
				23,874
		Foreign Governments — 0.8%
		Brazil (Republic of)
	808	8.00%, 01/15/2018		873
		El Salvador (Republic of)
	282	7.65%, 06/15/2035 §		225
		Malaysian Government
	150	7.50%, 07/15/2011		164
		Russian Federation Government
	271	7.50%, 03/31/2030 §		263
		United Mexican States
	120	6.05%, 01/11/2040		105
				1,630
		Health Care — 2.6%
		Abbott Laboratories
	494	5.13%, 04/01/2019		506
		Amgen, Inc.
	236	6.40%, 02/01/2039		238
		Covidien International Finance S.A.
	394	5.45%, 10/15/2012		409
		CVS Caremark Corp.
	1,125	6.30%, 06/01/2037 Δ		731
	207	6.60%, 03/15/2019		219
		Eli Lilly & Co.
	445	4.20%, 03/06/2014		462
	208	5.95%, 11/15/2037		203
		Pfizer, Inc.
	560	5.35%, 03/15/2015		602
	515	6.20%, 03/15/2019		553
	535	7.20%, 03/15/2039		588
		Roche Holdings, Inc.
	530	5.00%, 03/01/2014 ■		556
	155	6.00%, 03/01/2019 ■		161
	255	7.00%, 03/01/2039 ■		277
				5,505
		Services — 1.8%
		Allied Waste North America, Inc.
	385	6.88%, 06/01/2017		374
		Comcast Corp.
	516	6.30%, 11/15/2017		525
		President & Fellows of Harvard
	368	6.00%, 01/15/2019 ■		395
		Time Warner Entertainment Co., L.P.
	1,210	8.38%, 07/15/2033		1,258
		Waste Management, Inc.
	1,343	6.10%, 03/15/2018		1,233
				3,785
		Technology — 4.7%
		AT&T, Inc.
	1,060	6.55%, 02/15/2039		1,019
		Cingular Wireless Services, Inc.
	210	8.13%, 05/01/2012		232
	455	8.75%, 03/01/2031		521
		Cisco Systems, Inc.
	1,010	5.90%, 02/15/2039		956

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

6

Shares or Principal Amount			Market Value ╪
CORPORATE BONDS: INVESTMENT GRADE — 35.0% — (continued)
		Technology — 4.7% — (continued)
		France Telecom S.A.
$	150	7.75%, 03/01/2011Δ	$	163
		Hanaro Telecom, Inc.
	140	7.00%, 02/01/2012 ■		135
		Nokia Corp.
	196	5.38%, 05/15/2019		190
	178	6.63%, 05/15/2039		177
		Oracle Corp.
	506	6.50%, 04/15/2038		516
		Rogers Cable, Inc.
	205	8.75%, 05/01/2032		220
		Rogers Communications, Inc.
	931	7.50%, 03/15/2015		984
		Telecom Italia Capital
	797	7.72%, 06/04/2038		696
		Time Warner Cable, Inc.
	52	8.25%, 04/01/2019		57
		Verizon Wireless
	1,417	5.55%, 02/01/2014 ■		1,486
	1,467	8.50%, 11/15/2018 ■		1,757
		Vodafone Group plc
	1,166	6.15%, 02/27/2037		1,128
				10,237
		Transportation — 0.2%
		Canadian Pacific Railway Co.
	385	5.95%, 05/15/2037		259
		Carnival Corp.
	110	6.65%, 01/15/2028		89
		Continental Airlines, Inc.
	100	6.56%, 02/15/2012		86
	72	6.80%, 08/02/2018		49
				483
		Utilities — 3.9%
		Alabama Power Co.
	342	6.00%, 03/01/2039		340
		CenterPoint Energy Resources Corp.
	207	6.63%, 11/01/2037		141
		Commonwealth Edison Co.
	1,405	5.80%, 03/15/2018		1,337
		Duke Energy Corp.
	441	6.35%, 08/15/2038		468
	250	7.00%, 11/15/2018		286
		Electricite de France
	560	6.95%, 01/26/2039 ■		590
		Florida Power Corp.
	296	5.80%, 09/15/2017		318
		Kinder Morgan Energy Partners L.P.
	230	6.50%, 02/01/2037		189
		Northern States Power Co.
	400	6.25%, 06/01/2036		413
		Pacific Gas & Electric Energy Recovery Funding LLC
	701	8.25%, 10/15/2018		837
		Public Service Co. of Colorado
	874	6.50%, 08/01/2038		934
		Southern California Edison Co.
	964	5.75%, 03/15/2014		1,049
		Spectra Energy Corp.
	915	5.90%, 09/15/2013		881
		TransCanada Pipelines Ltd.
	705	7.25%, 08/15/2038		735
				8,518
		Total corporate bonds: investment grade (cost $87,228)	$	75,297
CORPORATE BONDS: NON-INVESTMENT GRADE — 8.2%
		Basic Materials — 0.4%
		Georgia-Pacific LLC
$	245	8.25%, 05/01/2016 ■		245
		Graham Packaging Co., Inc.
	650	8.50%, 10/15/2012		559
				804
		Capital Goods — 0.2%
		L-3 Communications Corp.
	340	5.88%, 01/15/2015		311
		Consumer Cyclical — 0.6%
		Desarrolladora Homes S.A.
	147	7.50%, 09/28/2015		111
		KB Home & Broad Home Corp.
	200	6.38%, 08/15/2011		191
		Parkson Retail Group Ltd.
	460	7.88%, 11/14/2011		435
		SGS International, Inc.
	150	12.00%, 12/15/2013		80
		Supervalu, Inc.
	420	7.50%, 11/15/2014		407
	140	8.00%, 05/01/2016		136
				1,360
		Energy — 0.4%
		Chesapeake Energy Corp.
	800	7.00%, 08/15/2014		738
		Inergy L.P.
	150	8.25%, 03/01/2016		149
				887
		Finance — 0.7%
		Drummond Co., Inc.
	390	7.38%, 02/15/2016 ■		283
		LPL Holdings, Inc.
	1,380	10.75%, 12/15/2015 ■		1,200
				1,483
		Foreign Governments — 0.7%
		Argentina (Republic of)
	745	7.00%, 10/03/2015		208
		Indonesia (Republic of)
	255	6.88%, 01/17/2018 §		229
		Philippines (Republic of)
	300	8.38%, 06/17/2019		332
		Turkey (Republic of)
	340	7.25%, 03/15/2015		347
		Venezuela (Republic of)
	785	5.75%, 02/26/2016		447
				1,563
		Health Care — 0.7%
		HCA, Inc.
	255	8.50%, 04/15/2019 ■		257
	165	9.25%, 11/15/2016		163
		IASIS Healthcare Capital Corp.
	490	8.75%, 06/15/2014		482

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

7

The Hartford Income Fund
Schedule of Investments — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

Shares or Principal Amount			Market Value ╪
CORPORATE BONDS: NON-INVESTMENT GRADE — 8.2% — (continued)
		Health Care — 0.7% — (continued)
		Psychiatric Solutions, Inc.
$	45	7.75%, 07/15/2015	$	41
		Warner Chilcott Corp.
	500	8.75%, 02/01/2015		491
				1,434
		Services — 0.8%
		Affinion Group, Inc.
	1,200	11.50%, 10/15/2015		864
		AMC Entertainment, Inc.
	500	11.00%, 02/01/2016		490
		Belo Corp.
	175	7.25%, 09/15/2027		85
		Sheridan Group, Inc.
	150	10.25%, 08/15/2011 ⌂		93
		Virgin Media, Inc.
	340	6.50%, 11/15/2016 ۞■		248
				1,780
		Technology — 3.1%
		Canwest MediaWorks L.P.
	400	9.25%, 08/01/2015 ■		37
		Charter Communications Operating LLC
	415	8.00%, 04/30/2012 ■Y		390
		Citizens Communications Co.
	440	9.00%, 08/15/2031		350
		Cricket Communications, Inc.
	310	9.38%, 11/01/2014		307
		CSC Holdings, Inc.
	320	7.63%, 04/01/2011		320
	425	8.50%, 04/15/2014 ■		434
		Frontier Communications Corp.
	225	8.25%, 05/01/2014		221
		Intelsat Bermuda Ltd.
	730	9.25%, 06/15/2016 ⌂		642
		Intelsat Corp.
	600	9.25%, 06/15/2016 ■		579
		Mediacom LLC
	750	7.88%, 02/15/2011		742
		MetroPCS Wireless, Inc.
	720	9.25%, 11/01/2014		721
		Qwest Communications International, Inc.
	820	7.50%, 02/15/2014		760
		Seagate Technology International
	345	10.00%, 05/01/2014 ■		340
		Windstream Corp.
	685	8.63%, 08/01/2016		682
				6,525
		Transportation — 0.2%
		Grupo Senda Autotransporte
	410	10.50%, 10/03/2015 ⌂		234
		United Air Lines, Inc.
	313	7.19%, 04/01/2011		300
				534
		Utilities — 0.4%
		AES El Salvador Trust
	200	6.75%, 02/01/2016 ⌂		97
		Copano Energy LLC
	315	8.13%, 03/01/2016		287
		NRG Energy, Inc.
	440	7.25%, 02/01/2014		424
		Tennessee Gas Pipeline Co.
	100	8.38%, 06/15/2032		97
				905
		Total corporate bonds: non-investment grade (cost $18,998)	$	17,586
SENIOR FLOATING RATE INTERESTS: INVESTMENT GRADE ¨ — 0.2%
		Health Care — 0.2%
		Pfizer, Inc.
$	484	0.38%, 12/31/2009 ±	$	479
		Total senior floating rate interests: investment grade (cost $484)	$	479
SENIOR FLOATING RATE INTERESTS: NON-INVESTMENT GRADE ¨ — 6.6%
		Basic Materials — 1.1%
		Cenveo, Inc., Delayed Draw Term Loan
$	1	5.73%, 06/21/2013 ±	$	1
		Cenveo, Inc., Term Loan C
	51	5.73%, 06/21/2013 ±		46
		Georgia-Pacific Corp.
	615	3.24%, 12/20/2012 ±		571
		Huntsman International LLC
	288	2.18%, 04/19/2014 ±		238
		Jarden Corp.
	404	2.97%, 01/24/2012 ±		387
	1,193	3.72%, 01/24/2012 ±		1,152
				2,395
		Capital Goods — 0.1%
		Yankee Candle Co.
	180	7.35%, 02/06/2014 ±		147
		Consumer Cyclical — 0.6%
		AM General LLC
	65	3.84%, 09/30/2013 ±		59
		American General Finance Corp.
	3	0.44%, 09/30/2012 ±		3
		Aramark Corp., Letter of Credit
	29	2.03%, 01/26/2014 ±		27
		Aramark Corp., Term Loan B
	460	3.10%, 01/26/2014 ±		418
		Lear Corp.
	161	3.21%, 04/25/2012 ±		67
		Michaels Stores, Inc.
	185	2.70%, 10/31/2013 ±		129
		Roundy’s Supermarkets, Inc.
	110	3.20%, 11/03/2011 ±		100
		William Carter Co.
	428	6.87%, 07/14/2012 ±		404
				1,207

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

8

Shares or Principal Amount			Market Value ╪
SENIOR FLOATING RATE INTERESTS: NON-INVESTMENT
GRADE ♦ — 6.6% — (continued)
		Consumer Staples — 0.4%
		Dole Food Co., Inc.
$	94	1.14%, 04/12/2013 ±	$	89
	165	7.96%, 04/12/2013 ±		156
	613	7.97%, 04/12/2013 ±		580
				825
		Finance — 0.0%
		Amerigroup Corp.
	50	2.44%, 03/26/2012 ±		48
		Health Care — 1.1%
		Carestream Health, Inc.
	873	2.43%, 04/30/2013 ±		756
		HCA, Inc.
	361	2.72%, 11/17/2012 ±		327
	293	3.47%, 11/17/2013 ±		264
		HealthSouth Corp.
	35	2.96%, 03/10/2013 ±		31
		Life Technologies Corp.
	848	5.25%, 11/23/2015 ±		844
		Skilled Healthcare Group, Inc.
	74	2.67%, 06/15/2012 ±		63
		Vanguard Health Holdings Co. II LLC
	74	7.87%, 09/23/2011 ±		70
				2,355
		Services — 1.1%
		Affinion Group, Inc.
	183	3.73%, 10/17/2012 ±		160
		Cedar Fair L.P.
	338	2.43%, 08/30/2012 ±		308
		Las Vegas Sands Corp., Delayed Draw Term Loan 1
	17	2.18%, 05/23/2014 ±		10
		Las Vegas Sands Corp., Term Loan B
	82	2.18%, 05/23/2014 ±		51
		R.H. Donnelley, Inc.
	659	6.75%, 06/30/2011 ±		439
		Regal Cinemas, Inc.
	414	4.97%, 10/27/2013 ±		399
		UPC Financing Partnership
	500	2.32%, 12/31/2014 ±		451
		West Corp.
	495	8.00%, 10/24/2013 ±		468
		WideOpenWest Finance LLC
	550	11.61%, 06/29/2015 ±		208
				2,494
		Technology — 1.7%
		Charter Communications Operating LLC
	1,064	4.69%, 03/06/2014 * ± Y		901
		CSC Holdings, Inc.
	491	2.20%, 03/29/2013 ±		453
		DaVita, Inc.
	400	2.20%, 10/05/2012 ±		374
		Fleetcor Technologies Operating Co. LLC, Delayed Draw Term Loan
	156	2.77%, 04/30/2013 ±		139
		Fleetcor Technologies Operating Co. LLC, Term Loan B
	772	2.76%, 04/30/2013 ±		687
		Intelsat Bermuda Ltd., Term Loan B 2A
	62	2.99%, 01/03/2014 ±		57
		Intelsat Bermuda Ltd., Term Loan B 2B
	62	2.99%, 01/03/2014 ±		57
		Intelsat Bermuda Ltd., Term Loan B 2C
	62	2.99%, 01/03/2014 ±		57
		MetroPCS Wireless, Inc.
	173	3.17%, 11/04/2013 ±		161
		RCN Corp.
	983	3.50%, 04/19/2014 ±		886
		Time Warner Telecom Holdings, Inc.
	45	2.43%, 01/07/2013 ±		41
				3,813
		Utilities — 0.5%
		NRG Energy, Inc.
	97	1.12%, 02/01/2013 ±		90
	181	2.72%, 02/01/2013 ±		168
		Texas Competitive Electric Holdings Co. LLC
	1,096	3.97%, 10/12/2014 ±		741
				999
		Total senior floating rate interests: non-investment grade (cost $16,019)	$	14,283
U.S. GOVERNMENT AGENCIES — 28.2%
		Federal Home Loan Mortgage Corporation — 13.3%
$	280	5.50%, 10/01/2032	$	291
	21,329	6.00%, 01/15/2032 — 11/01/2037		22,204
	6,037	6.50%, 05/01/2037 — 05/01/2038 □		6,403
				28,898
		Federal National Mortgage Association — 14.5%
	518	5.00%, 11/01/2017 — 01/01/2022		539
	177	5.21%, 12/01/2035 Δ		183
	2,467	5.50%, 12/01/2032 — 10/01/2034		2,566
	705	5.96%, 01/01/2037 Δ		732
	4,597	6.00%, 07/01/2036 — 07/01/2037		4,812
	16,158	6.50%, 03/01/2036 — 08/01/2038		17,143
	4,741	7.00%, 09/01/2038		5,077
				31,052
		Other Government Agencies — 0.4% Small Business Administration Participation Certificates:
$	689	4.92%, 10/01/2023		714
		Total U.S. government agencies (cost $58,546)	$	60,664
U.S. GOVERNMENT SECURITIES — 5.9%
		U.S. Treasury Bonds — 0.1%
$	103	3.50%, 02/15/2039	$	94

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

9

The Hartford Income Fund

Schedule of Investments — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

Shares or Principal Amount			Market Value ╪
U.S. GOVERNMENT SECURITIES  —  5.9%  —  (continued)
		U.S. Treasury Notes — 5.8%
$	10,380	0.88%, 03/31/2011	$	10,380
	1,577	1.75%, 01/31/2014		1,562
	197	1.88%, 04/30/2014		196
	434	2.75%, 02/15/2019		420
				12,652
		Total U.S. government securities (cost $12,691)	$	12,652
		Total long-term investments (cost $217,124)	$	198,624
SHORT-TERM INVESTMENTS — 6.9%
		Investment Pools and Funds — 1.8%
	4,001	JP Morgan U.S. Government Money Market Fund	$	4,001
	—	State Street Bank U.S. Government Money Market Fund		—
	—	Wells Fargo Advantage Government Money Market Fund		—
				4,001
		Repurchase Agreements — 5.1%
		BNP Paribas Securities Corp. Repurchase Agreement (maturing on 05/01/2009 in the amount of $8,537, collateralized by U.S. Treasury Bond 5.38%, 2031, value of $8,698)
$	8,537	0.15%, 04/30/2009	$	8,537
		UBS Securities, Inc. Repurchase Agreement (maturing on 05/01/2009 in the amount of $2,388, collateralized by U.S. Treasury Bond 7.50%, 2024, value of $2,442)
	2,388	0.13%, 04/30/2009		2,388
				10,925
		Total short-term investments (cost $14,926)	$	14,926

Total investments (cost $232,050)▲	99.2	%	$	213,550
Other assets and liabilities	0.8	%		1,796
Total net assets	100.0	%	$	215,346

Note:	Percentage of investments as shown is the ratio of the total market value to total net assets. Market value of investments in foreign securities represents 8.76% of total net assets at April 30, 2009.
▲	At April 30, 2009, the cost of securities for federal income tax purposes was $232,198 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	5,990
Unrealized Depreciation		(24,638	)
Net Unrealized Depreciation	$	(18,648	)

†	The aggregate value of securities valued in good faith at fair value as determined under policies and procedures established by and under the supervision of the Fund’s Board of Directors at April 30, 2009, was $376, which represents 0.17% of total net assets.
•	Currently non-income producing. For long-term debt securities, items identified are in default as to payment of interest and/or principal.
‡	This security, or a portion of this security, has been segregated to cover funding requirements on investment transactions settling in the future.
Δ	Variable rate securities; the rate reported is the coupon rate in effect at April 30, 2009.
■	Securities issued within terms of a private placement memorandum, exempt from registration under Rule 144A under the Securities Act of 1933, as amended, and may be sold only to qualified institutional buyers. Pursuant to guidelines adopted by the Board of Directors, these issues are determined to be liquid. The aggregate value of these securities at April 30, 2009, was $23,639, which represents 10.98% of total net assets.
§	Securities contain some restrictions as to public resale. These securities comply with Regulation S, rules governing offers and sales made outside the United States without registration under the Securities Act of 1933, and are determined to be liquid. At April 30, 2009, the market value of these securities amounted to $1,136 or 0.53% of total net assets.
ª	Perpetual maturity security. Maturity date shown is the first call date.
۞	Convertible security.
►	The interest rates disclosed for interest only strips represent effective yields based upon estimated future cash flows at April 30, 2009.
*	The cost of securities purchased on a when-issued or delayed delivery basis at April 30, 2009 was $838.
±	The interest rate disclosed for these securities represents the average coupon as of April 30, 2009.
Y	The company is in bankruptcy. The investment held by the fund is current with respect to interest payments.

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

10

o Security pledged as initial margin deposit for open futures contracts at April 30, 2009.

Futures Contracts Outstanding at April 30, 2009

						Unrealized
	Number of				Expiration	Appreciation/
Description	Contracts*		Position		Month	(Depreciation)
2 Year U.S. Treasury Note		46		Long	Jun 2009	$	43
5 Year U.S. Treasury Note		2		Long	Jun 2009	$	(3	)
U.S. Long Bond		36		Long	Jun 2009	$	(197	)
						$	(157	)

* The number of contracts does not omit 000’s.

⌂ The following securities are considered illiquid. Illiquid securities are often purchased in private placement transactions, are often not registered under the Securities Act of 1933 and may have contractual restrictions on resale. A security may also be considered illiquid if the security lacks a readily available market or if its valuation has not changed for a certain period of time.

Period	Shares/
Acquired	Par		Security	Cost Basis
03/2009	$	200	AES El Salvador Trust, 6.75%, 02/01/2016 - Reg S	$	107
03/2004	$	2,557	Banc of America Commercial Mortgage, Inc., 5.50%, 11/10/2039 - 144A		55
07/2004	$	6,646	Banc of America Commercial Mortgage, Inc., 5.75%, 06/10/2039 - 144A		37
03/2006	$	200	Bayview Commercial Asset Trust, 0.81%, 04/25/2036 - 144A		200
05/2007 — 02/2009	$	5,420	Bayview Commercial Asset Trust, 7.00%, 07/25/2037 - 144A		761
08/2007	$	9,917	Bayview Commercial Asset Trust, 7.50%, 09/25/2037 - 144A		1,369
08/2006	$	50	Capital Automotive Receivables Asset Trust, 5.77%, 05/20/2010 - 144A		50
04/2006	$	4,976	CBA Commercial Small Balance Commercial Mortgage, 7.00%, 07/25/2035 - 06/25/2038 - 144A		101
11/2006 — 08/2007	$	6,177	CBA Commercial Small Balance Commercial Mortgage, 9.75%, 01/25/2039 - 144A		547
01/2007	$	200	Citigroup Mortgage Loan Trust, Inc., 3.02%, 01/25/2037 - 144A		175
03/2004	$	4,989	Commercial Mortgage Pass-Through Certificates, 5.50%, 03/10/2039 - 144A		128
07/2007	$	197	Credit-Based Asset Servicing and Securitization, 0.71%, 05/25/2036 - 144A		193
07/2004	$	3	Equity One ABS, Inc., 2.94%, 07/25/2034		3
06/2006	$	8,112	GE Business Loan Trust, 6.14%, 05/15/2034 - 144A		22
12/2005	$	54,202	GE Capital Commercial Mortgage Corp., 6.35%, 11/10/2045 - 144A		47
08/2006	$	270	GMAC Mortgage Corp. Loan Trust, 5.75%, 10/25/2036		270
05/2007	$	198	Greenwich Capital Commercial Funding Corp., 1.69%, 11/05/2021 - 144A		192
05/2007	$	189	Greenwich Capital Commercial Funding Corp., 1.89%, 11/05/2021 - 144A		183
05/2008 — 11/2008	$	410	Grupo Senda Autotransporte, 10.50%, 10/03/2015 - 144A		379
06/2006 — 06/2007	$	730	Intelsat Bermuda Ltd., 9.25%, 06/15/2016		769
03/2007	$	75	JP Morgan Automotive Receivable Trust, 12.85%, 03/15/2012		75
03/2004 — 08/2006	$	2,088	JP Morgan Chase Commercial Mortgage Securities Corp., 5.50%, 01/15/2038 - 144A		55
04/2005 — 10/2007	$	20,961	LB-UBS Commercial Mortgage Trust, 5.26%, 06/15/2036 - 144A		27
09/2006	$	120	Lehman Brothers Small Balance Commercial, 5.62%, 09/25/2036 - 144A		120
03/2006	$	45	Long Beach Asset Holdings Corp., 5.78%, 04/25/2046 - 144A		45
04/2007	$	22	Nationstar Home Equity Loan Trust, 9.97%, 03/25/2037 - 144A		22
05/2007	$	638	Northgroup Preferred Capital Corp., 6.38%, 10/15/2017 - 144A		638
03/2007	$	725	Option One Mortgage Loan Trust, Class M6, 6.99%, 03/25/2037		703
03/2007	$	500	Option One Mortgage Loan Trust, Class M7, 6.99%, 03/25/2037		440
03/2007	$	475	Option One Mortgage Loan Trust, Class M8, 6.99%, 03/25/2037		382
03/2006	$	80	Renaissance Home Equity Loan Trust, 5.75%, 05/25/2036		80
03/2006	$	200	Renaissance Home Equity Loan Trust, 6.16%, 05/25/2036		200
08/2007	$	600	Renaissance Home Equity Loan Trust, Class M5, 7.00%, 09/25/2037		455
08/2007	$	750	Renaissance Home Equity Loan Trust, Class M8, 7.00%, 09/25/2037		420
07/2005 — 02/2006	$	150	Sheridan Group, Inc., 10.25%, 08/15/2011		154
09/2006	$	250	Wachovia Automotive Loan Owner Trust, 5.15%, 07/20/2012 - 144A		250
10/2006	$	260	Wachovia Automotive Loan Owner Trust, 5.29%, 06/20/2012 - 144A		260
02/2004	$	6,117	Wachovia Bank Commercial Mortgage Trust, 5.50%, 02/15/2041 - 144A		118
06/2007	$	1,220	Wamu Commercial Mortgage Securities Trust, 6.31%, 03/23/2045 - 144A		1,215
03/2008	$	942	Wells Fargo Alternative Loan Trust, 6.25%, 11/25/2037		760

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

11

The Hartford Income Fund

Schedule of Investments — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

The aggregate value of these securities at April 30, 2009 was $6,004 which represents 2.79% of total net assets.

♦

Senior floating rate interests in which the Fund invests generally pay interest rates which are periodically adjusted by reference to a base short-term, floating lending rate plus a premium. These base lending rates are generally (i) the lending rate offered by one or more major European banks, such as the London Inter-Bank Offered Rate (LIBOR), (ii) the prime rate offered by one or more major United States Banks, or (iii) the bank’s certificate of deposit rate. Senior floating rate interests often require prepayments from excess cash flows or permit the borrower to repay at its election. The rate at which the borrower repays cannot be predicted with accuracy. As a result, the actual remaining maturity may be substantially less than the stated maturities shown. The interest rate is the rate in effect at April 30, 2009.

╪

See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of securities.

FAS 157 Disclosure of Investment Valuation Hierarchy Levels

Assets:
Investment in securities — Level 1	$	4,711
Investment in securities — Level 2		203,387
Investment in securities — Level 3		5,452
Total	$	213,550
Other financial instruments — Level 1 *	$	43
Total	$	43
Liabilities:
Other financial instruments — Level 1 *	$	200
Total	$	200

* Other financial instruments are derivative instruments not reflected in the Schedule of Investments, such as futures, forwards and swap contracts, which are valued at the unrealized appreciation/depreciation on the investment.

Following is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value:

Assets:
Securities:
Balance as of October 31, 2008	$	8,974
Net realized loss		(2,698	)
Change in unrealized appreciation		981
Net sales		(1,135	)
Transfers in and /or out of Level 3		(670	)
Balance as of April 30, 2009	$	5,452
♦   Change in unrealized gains or losses relating to assets still held at April 30, 2009	$	(958	)

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

12

The Hartford Income Fund

Statement of Assets and Liabilities
April 30, 2009 (Unaudited)
(000’s Omitted)

Assets:
Investments in securities, at fair value (cost $232,050)	$	213,550
Foreign currency on deposit with custodian (cost $1)		1
Receivables:
Investment securities sold		2,261
Fund shares sold		660
Dividends and interest		2,346
Variation margin		6
Other assets		60
Total assets		218,884
Liabilities:
Payables:
Investment securities purchased		3,091
Fund shares redeemed		279
Investment management fees		19
Dividends		51
Distribution fees		8
Variation margin		7
Accrued expenses		69
Other liabilities		14
Total liabilities		3,538
Net assets	$	215,346
Summary of Net Assets:
Capital stock and paid-in-capital		276,104
Accumulated distribution in excess of net investment income		(24	)
Accumulated net realized loss on investments and foreign currency transactions		(42,078	)
Unrealized depreciation of investments and the translation of assets and liabilities denominated in foreign currency		(18,656	)
Net assets	$	215,346
Shares authorized		300,000
Par value	$	0.001
Class A: Net asset value per share/Maximum offering price per share	$	8.60/$9.00
Shares outstanding		10,284
Net assets	$	88,392
Class B: Net asset value per share	$	8.59
Shares outstanding		962
Net assets	$	8,263
Class C: Net asset value per share	$	8.61
Shares outstanding		1,947
Net assets	$	16,771
Class Y: Net asset value per share	$	8.58
Shares outstanding		11,877
Net assets	$	101,920

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

13

The Hartford Income Fund

Statement of Operations
For the Six Month Period Ended April 30, 2009 (Unaudited)
(000’s Omitted)

Investment Income:
Interest	$	7,475
Securities lending		44
Total investment income		7,519
Expenses:
Investment management fees		587
Transfer agent fees		106
Distribution fees
Class A		100
Class B		38
Class C		72
Custodian fees		5
Accounting services		19
Registration and filing fees		30
Board of Directors’ fees		3
Audit fees		6
Other expenses		53
Total expenses (before waivers and fees paid indirectly)		1,019
Expense waivers		(83	)
Transfer agent fee waivers		(2	)
Custodian fee offset		—
Total waivers and fees paid indirectly		(85	)
Total expenses, net		934
Net investment income		6,585
Net Realized Loss on Investments, Other Financial Instruments and Foreign Currency Transactions:
Net realized loss on investments in securities		(26,234	)
Net realized gain on futures and swap contracts		1,752
Net realized loss on foreign currency transactions		(2	)
Net Realized Loss on Investments, Other Financial Instruments and Foreign Currency Transactions		(24,484	)
Net Changes in Unrealized Appreciation of Investments, Other Financial Instruments and Foreign Currency Transactions:
Net unrealized appreciation of investments		32,245
Net unrealized depreciation of futures		(210	)
Net unrealized appreciation on translation of other assets and liabilities in foreign currencies		3
Net Changes in Unrealized Appreciation of Investments, Other Financial Instruments and Foreign Currency Transactions		32,038
Net Gain on Investments, Other Financial Instruments and Foreign Currency Transactions		7,554
Net Increase in Net Assets Resulting from Operations	$	14,139

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

14

The Hartford Income Fund

Statement of Changes in Net Assets

(000’s Omitted)

	For the Six-Month
	Period Ended			For the
	April 30, 2009			Year Ended
	(Unaudited)			October 31, 2008
Operations:
Net investment income	$	6,585		$	18,842
Net realized loss on investments, other financial instruments and foreign currency transactions		(24,484	)		(16,896	)
Net unrealized appreciation (depreciation) of investments, other financial instruments and foreign currency transactions		32,038			(46,211	)
Net increase (decrease) in net assets resulting from operations		14,139			(44,265	)
Distributions to Shareholders:
From net investment income
Class A		(2,505	)		(5,406	)
Class B		(212	)		(446	)
Class C		(392	)		(699	)
Class Y		(3,672	)		(11,948	)
Total distributions		(6,781	)		(18,499	)
Capital Share Transactions:
Class A		3,648			2,065
Class B		180			(252	)
Class C		3,182			1,637
Class Y		(41,312	)		(33,960	)
Net decrease from capital share transactions		(34,302	)		(30,510	)
Net decrease in net assets		(26,944	)		(93,274	)
Net Assets:
Beginning of period		242,290			335,564
End of period	$	215,346		$	242,290
Accumulated undistributed (distribution in excess of) net investment income	$	(24	)	$	172

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

15

The Hartford Income Fund

Notes to Financial Statements
April 30, 2009 (Unaudited)
(000’s Omitted)

1.	Organization:
	The Hartford Mutual Funds, Inc. (“Company”) is an open-end management investment company comprised of fifty-two portfolios. Financial statements for The Hartford Income Fund (the “Fund”), a series of the Company, are included in this report.
	The Company is organized under the laws of the State of Maryland and is registered with the Securities and Exchange Commission (“SEC”) under the Investment Company Act of 1940, as amended (“1940 Act”). The Fund is a diversified open-end management investment company.
	Class A shares are sold with a front-end sales charge of up to 4.50%. Class B shares are sold with a contingent deferred sales charge which is assessed on the lesser of the per share net asset value (“NAV”) of the shares at the time of redemption or the original purchase price, and declines from up to 5.00% to zero depending on the period of time the shares are held. Class C shares are sold with a contingent deferred sales charge of up to 1.00% on shares redeemed within twelve months of purchase. Class Y shares, which are sold to certain eligible institutional investors, are sold without a sales charge. All classes of shares have identical voting, redemption, dividend, liquidation and other rights and the same terms and conditions, with the exceptions that each class may have different expenses, which may affect performance, and except that Class B shares automatically convert to Class A shares after 8 years.
	Effective at the close of business on September 30, 2009 (the “Close Date”), no new or additional investments will be allowed in Class B shares of The Hartford Mutual Funds (including investments through any systematic investment plan). After the Close Date, existing shareholders of Class B shares may continue to hold their Class B shares, exchange their Class B shares for Class B shares of another Hartford Mutual Fund (as permitted by existing exchange privileges), and redeem their Class B shares as described in the Fund’s prospectus. Reinstatement privileges with respect to Class B shares will continue under the current policy. If you have chosen to reinvest capital gains and dividends, any such capital gains or dividends on Class B shares will continue to be reinvested in Class B shares of the Fund. For Class B shares outstanding as of the Close Date, all Class B share attributes, including the 12b-1 fee, contingent deferred sales charge schedule, and conversion to Class A shares remain unchanged.
2.	Significant Accounting Policies:
	The following is a summary of significant accounting policies of the Fund, which are in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”).

a)	Security Transactions and Investment Income — Security transactions are recorded on the trade date (the date the order to buy or sell is executed). Security gains and losses are determined on the basis of identified cost.
	Trade date for senior floating rate interests purchased in the primary market is considered the date on which the loan allocations are determined. Trade date for senior floating rate loan interests purchased in the secondary market is the date on which the transaction is entered into.
	Interest income, including amortization of premium and accretion of discounts, is accrued on a daily basis.
b)	Security Valuation — The Fund generally uses market prices in valuing portfolio securities. If market prices are not readily available or are deemed unreliable, the Fund will use the fair value of the security as determined in good faith under policies and procedures established by and under the supervision of the Fund’s Board of Directors. Market prices may be deemed unreliable, for example, if a security is thinly traded or if an event has occurred after the close of the security’s primary markets, but before the close of the New York Stock Exchange (the “Exchange”) (normally 4:00 p.m. Eastern Time, referred to as the “Valuation Time”) that is expected to affect the value of the portfolio security. The circumstances in which the Fund may use fair value pricing include, among others: (i) the occurrence of events that are significant to a particular issuer, such as mergers, restructuring or defaults; (ii) the occurrence of events that are

16

significant to an entire market, such as natural disasters in a particular region or governmental actions; (iii) trading restrictions on securities; (iv) thinly traded securities and (v) market events such as trading halts and early market closings.

	Debt securities (other than short-term obligations and senior floating rate interests) held by the Fund are valued on the basis of valuations furnished by an independent pricing service which determines valuations for normal institutional size trading units of debt securities. Senior floating rate interests generally trade in over-the-counter markets and are priced through an independent pricing service utilizing independent market quotations from loan dealers or financial institutions. Securities for which prices are not available from an independent pricing service are valued using market quotations obtained from one or more dealers that make markets in the securities in accordance with procedures established by the Fund’s Board of Directors. Generally, the Fund may use fair valuation in regard to debt securities when the Fund holds defaulted or distressed securities or securities in a company in which a reorganization is pending. Short-term investments with a maturity of more than 60 days when purchased are valued based on market quotations until the remaining days to maturity become less than 61 days. Investments that mature in 60 days or less are valued at amortized cost, which approximates market value.
	Options contracts on securities, currencies, indexes, futures contracts, commodities and other instruments shall be valued at their most recent sales price at the Valuation Time on the Primary Market on which the instrument is primarily traded. If the instrument did not trade on the Primary Market, it may be valued at the most recent sales price at the Valuation Time on another exchange or market where it did trade.
	Futures contracts are valued at the most recent settlement price reported by an exchange on which, over time, they are traded most extensively. If a settlement price is not available, futures contracts will be valued at the most recent trade price as of the Valuation Time. If there were no trades, the contract shall be valued at the mean of the closing bid/ask prices as of the Valuation Time.
	Financial instruments for which prices are not available from an independent pricing service are valued using market quotations obtained from one or more dealers that make markets in securities in accordance with procedures established by the Fund’s Board of Directors.
	A forward currency contract shall be valued based on the price of the underlying currency at the prevailing interpolated exchange rate, which is a combination of the spot currency rate and the forward currency rate. Spot currency rates and forward currency rates are obtained from an independent pricing service on a daily basis not more than one hour before the Valuation Time.
	Swaps are valued based on custom valuations furnished by an independent pricing service. Swaps for which prices are not available from an independent pricing service are valued in accordance with procedures established by the Fund’s Board of Directors.
	Other derivative or contractual type instruments shall be valued using market prices if such instruments trade on an exchange or market. If such instruments do not trade on an exchange or market, such instruments shall be valued at a price at which the counterparty to such contract would repurchase the instrument. In the event that the counterparty cannot provide a price, such valuation may be determined in accordance with procedures established by the Fund’s Board of Directors.
	Investments in open-end mutual funds are valued at the respective NAV of each open-end mutual fund on the valuation date.
c)	Foreign Currency Transactions — The accounting records of the Fund are maintained in U.S. dollars. All assets and liabilities initially expressed in foreign currencies are converted into U.S. dollars at the prevailing exchange rates.

17

The Hartford Income Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

	Purchases and sales of investment securities, dividend and interest income and certain expenses are translated at the rates of exchange prevailing on the respective dates of such transactions.
	The Fund does not isolate that portion of portfolio security valuation resulting from fluctuations in the foreign currency exchange rates on portfolio securities from the fluctuations arising from changes in the market prices of securities held. Such fluctuations are included with the net realized and unrealized gain or loss on investments in the accompanying financial statements.
	Net realized foreign exchange gains or losses arise from sales of foreign currencies and the difference between asset and liability amounts initially stated in foreign currencies and the U.S. dollar value of the amounts actually received or paid. Net unrealized foreign exchange gains or losses arise from changes in the value of other assets and liabilities at the end of the reporting period, resulting from changes in the exchange rates.
d)	Securities Lending — The Fund may lend its securities to certain qualified brokers who pay the Fund negotiated lender fees. The loans are fully collateralized at all times with cash and/or U.S. Government Securities and/or repurchase agreements. The cash collateral is then invested in short-term money market instruments. The repurchase agreements are fully collateralized by U.S. Government Securities. The adequacy of the collateral for securities on loan is monitored on a daily basis. For instances where the market value of collateral falls below the market value of the securities out on loan, such collateral is supplemented on the following business day.
	While securities are on loan, the Fund is subject to the following risks: 1) that the borrower may default on the loan and that the collateral could be inadequate in the event the borrower defaults, 2) that the earnings on the collateral invested may not be sufficient to pay fees incurred in connection with the loan, 3) that the principal value of the collateral invested may decline and may not be sufficient to pay back the borrower for the amount of the collateral posted, 4) that the borrower may use the loaned securities to cover a short sale which may place downward pressure on the market prices of the loaned securities, 5) that return of loaned securities could be delayed and could interfere with portfolio management decisions and 6) that any efforts to recall the securities for purposes of voting a proxy may not be effective. The Fund had no securities out on loan as of April 30, 2009.
e)	Joint Trading Account — Pursuant to an exemptive order issued by the SEC, the Fund may transfer uninvested cash balances into a joint trading account managed by Hartford Investment Management Company (“Hartford Investment Management”). These balances may be invested in one or more repurchase agreements and/or short-term money market instruments.
f)	Repurchase Agreements — A repurchase agreement is an agreement by which the seller of a security agrees to repurchase the security sold at a mutually agreed upon time and price. At the time the Fund enters into a repurchase agreement, the value of the underlying collateral security(ies), including accrued interest, will be equal to or exceed the value of the repurchase agreement. Securities that serve to collateralize the repurchase agreement are held by the Fund’s custodian in book entry or physical form in the custodial account of the Fund or in a third party custodial account. Repurchase agreements are valued at cost plus accrued interest. The Fund, as shown on the Schedule of Investments, had outstanding repurchase agreements as of April 30, 2009.
g)	Forward Foreign Currency Contracts — The Fund may enter into forward foreign currency contracts that obligate the Fund to repurchase/replace or sell currencies at specified future dates. Forward foreign currency contracts may be used to hedge against adverse fluctuations in exchange rates between currencies.
	Forward foreign currency contracts involve elements of market risk in excess of the amount reflected in the Statement of Assets and Liabilities. In addition, risks may arise upon entering into these contracts from the potential inability of the counterparties to meet the terms of the contracts and from unanticipated movements in the value of the foreign currencies relative to the U.S. dollar.

18

h)	Fund Share Valuation and Dividend Distributions to Shareholders — Orders for the Fund’s shares are executed in accordance with the investment instructions of the shareholders. The NAV of the Fund’s shares is determined as of the close of each business day of the Exchange. The NAV is determined separately for each class of the Fund by dividing the Fund’s net assets attributable to that class by the number of shares of the class outstanding. Orders for the purchase of the Fund’s shares prior to the close of the Exchange on any day on which the Exchange is open for business are priced at the NAV determined as of the close of the Exchange. Orders after the close of the Exchange, or on a day on which the Exchange and/or the Fund is not open for business, are priced at the next determined NAV.
	The Fund intends to distribute substantially all of its net investment income and net realized capital gains to shareholders no less frequently than once a year. Normally, dividends from net investment income are declared daily and paid monthly. Dividends are paid on shares beginning on the business day after the day when the funds used to purchase the shares are collected by the transfer agent for the Fund. Unless shareholders specify otherwise, all dividends will be automatically reinvested in additional full or fractional shares of the Fund.
	Distributions from net investment income, realized capital gains and capital are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP with respect to character and timing. These differences include but are not limited to foreign currency gains and losses, losses deferred due to wash sales adjustments, adjustments related to Passive Foreign Investment Companies and certain derivatives, and excise tax regulations. Permanent book and federal income tax basis differences relating to shareholder distributions will result in reclassifications to certain of the Fund’s capital accounts (see Federal Income Taxes: Reclassification of Capital Accounts footnote).
i)	Illiquid and Restricted Securities — The Fund is permitted to invest up to 15% of its net assets in illiquid securities. “Illiquid Securities” are those that may not be sold or disposed of in the ordinary course of business within seven days, at approximately the price used to determine the Fund’s NAV. The Fund may not be able to sell illiquid securities or other investments when its sub-adviser considers it desirable to do so or may have to sell such securities or investments at a price that is lower than the price that could be obtained if the securities or investments were more liquid. A sale of illiquid securities or other investments may require more time and may result in higher dealer discounts and other selling expenses than does the sale of those that are liquid. Illiquid securities and investments also may be more difficult to value, due to the unavailability of reliable market quotations for such securities or investments, and investment in them may have an adverse impact on the Fund’s NAV. The Fund may also purchase certain restricted securities, commonly known as Rule 144A securities, that can be resold to institutions and which may be determined to be liquid pursuant to policies and guidelines established by the Fund’s Board of Directors. The Fund, as shown in the Schedule of Investments, had illiquid or restricted securities as of April 30, 2009.
j)	Securities Purchased on a When-Issued or Delayed-Delivery Basis — Delivery and payment for securities that have been purchased by the Fund on a forward commitment, or when-issued or delayed-delivery basis take place beyond the customary settlement period. During this period, such securities are subject to market fluctuations, and the Fund identifies securities segregated in its records with value at least equal to the amount of the commitment. As of April 30, 2009, the Fund had entered into outstanding when-issued or forward commitments with a cost of $838.
k)	Credit Risk — Credit risk depends largely on the perceived financial health of bond issuers. In general, the credit rating is inversely related to the credit risk of the issuer. Higher rated bonds generally are deemed to have less credit risk, while lower or unrated bonds are deemed to have higher risk of default. The share price, yield and total return of a Fund which holds securities with higher credit risk may fluctuate more than with less aggressive bond funds.
l)	Senior Floating Rate Interests — The Fund, as shown in the Schedule of Investments, may invest in senior floating rate interests. Senior floating rate interests hold the most senior position in the capital structure of a business entity (the “Borrower”), are typically secured by specific collateral and have a claim on the assets and/or stock of the Borrower that is senior to that held by subordinated debtholders and stockholders of the Borrower. Senior floating rate interests are typically structured and administered by a financial institution that acts as the agent of the lenders participating in the senior floating rate interest. Senior floating rate interests are typically rated below-investment-grade, which suggests they

19

The Hartford Income Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

	are more likely to default and generally pay higher interest rates than investment-grade loans. A default could lead to non-payment of income which would result in a reduction of income to the Fund and there can be no assurance that the liquidation of any collateral would satisfy the Borrower’s obligation in the event of non-payment of scheduled interest or principal payments, or that such collateral could be readily liquidated.
m)	Prepayment Risks — Most senior floating rate interests and certain debt securities allow for prepayment of principal without penalty. Senior floating rate interests and securities subject to prepayment risk generally offer less potential for gains when interest rates decline, and may offer a greater potential for loss when interest rates rise. In addition, with respect to securities, rising interest rates may cause prepayments to occur at a slower than expected rate, thereby effectively lengthening the maturity of the security and making the security more sensitive to interest rate changes. Prepayment risk is a major risk of mortgage-backed securities and certain asset-backed securities. Accordingly, the potential for the value of a senior floating rate interest or debt security to increase in response to interest rate declines is limited. For certain asset-backed securities, the actual maturity may be less than the stated maturity shown in the Schedule of Investments. As a result, the timing of income recognition relating to these securities may vary based upon the actual maturity.
	Senior floating rate interests or debt securities purchased to replace a prepaid loan or a debt security may have lower yields than the yield on the prepaid loan or debt security. Senior floating rate interests generally are subject to mandatory and/or optional prepayment. Because of these mandatory prepayment conditions and because there may be significant economic incentives for the Borrower to repay, prepayments of senior floating rate interests may occur. As a result, the actual remaining maturity of senior floating rate interests held may be substantially less than the stated maturities shown in the Schedule of Investments.
n)	Swaps — The Fund may enter into event linked swaps, including credit default swaps. The credit default swap market allows the Fund to manage credit risk through buying and selling credit protection on a specific issuer, an index, or a basket of issuers. A “buyer” of credit protection agrees to pay a counterparty to assume the credit risk of an issuer upon the occurrence of certain events. The “seller” of the protection receives periodic payments and agrees to assume the credit risk of an issuer upon the occurrence of certain events. A “seller’s” exposure is limited to the total notional amount of the credit default swap contract. A Fund will generally not buy protection on issuers that are not currently held by such Fund.
	The Fund may enter into interest rate swaps. In a typical interest rate swap, one party agrees to make regular payments equal to a floating interest rate multiplied by a “notional principal amount,” in return for payments equal to a fixed rate multiplied by the same amount, for a specific period of time. If a swap agreement provides for payments in different currencies, the parties might agree to exchange the notional principal amount as well. Swaps may also depend on other prices or rates, such as the value of an index or mortgage prepayment rates. The Fund had no outstanding swaps as of April 30, 2009.
o)	Use of Estimates — The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and the reported amounts of income and expenses during the period. Operating results in the future could vary from the amounts derived from management’s estimates.
p)	Financial Accounting Standards Board Financial Accounting Standards No. 157 – Effective November 1, 2008, the Fund adopted Financial Accounting Standards Board (“FASB”) Statement of Financial Accounting Standards No. 157, “Fair Value Measurements” (“FAS 157”). This standard clarifies the definition of fair value for financial reporting, establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements. Fair value is defined under FAS 157 as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Under FAS 157, a fair value measurement should reflect all of the assumptions that market participants would use in pricing the asset or liability, including assumptions

20

about the risk inherent in a particular valuation technique, the effect of a restriction on the sale or use of an asset, and the risk of nonperformance.

Various inputs are used in determining the value of the Fund’s investment. These inputs are summarized, per FAS 157, into three broad hierarchy levels. This hierarchy is based on whether the valuation inputs are observable or unobservable. These levels are:

• Level 1 — Quoted prices in active markets for identical securities. Level 1 includes exchange-traded instruments such as domestic equities, some foreign equities, options, futures, mutual funds, ETF’s, and rights and warrants.

• Level 2 — Observable inputs other than Level 1 prices, such as quoted prices for similar securities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the security. Level 2 includes debt securities that are traded less frequently than exchange-traded instruments and that are valued using third party pricing services and foreign equities, whose value is determined using a multi-factor regression model with inputs that are observable in the market; and money market instruments, which are carried at amortized cost.

• Level 3 — Significant unobservable inputs that are supported by little or no market activity. Level 3 includes financial instruments whose values are determined using broker quotes and require significant management judgment or estimation. This category includes broker quoted securities, long dated OTC options and securities where trading has been halted or there are certain restrictions on trading. While these securities are priced using unobservable inputs, the valuation of these securities reflects the best available data and management believes the prices are a good representation of exit price.

	Individual securities within any of the above mentioned asset classes may be assigned a different hierarchical level than those presented above, as individual circumstances dictate.
	FAS 157 also requires that a roll forward reconciliation be shown for all Level 3 securities from the beginning of the reporting period to the end of the reporting period. Part of this reconciliation includes transfers in and/or out of Level 3. For purposes of this reconciliation, transfers in are shown at the end of period fair value and transfers out are shown at the beginning of period fair value.
	Refer to the valuation hierarchy levels summary and the Level 3 roll forward reconciliation found following the Schedule of Investments.
	FASB Staff Position No. 157-4 — In April 2009, FASB released FASB Staff Position No. 157-4, “Determining Fair Value When the Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly” (“FSP FAS 157-4”). FSP FAS 157-4 provides additional guidance on determining whether a market for a financial asset is not active and a transaction is not distressed when measuring fair value under FAS 157. The FSP also requires additional disclosure detail on debt and equity securities by major investment categories. FSP FAS 157-4 is effective for interim and annual periods ending after June 15, 2009. At this time, management is evaluating the implications of FSP FAS 157-4 and does not believe it will impact valuation but will require additional disclosure. This additional disclosure has not yet been implemented.
q)	Financial Accounting Standards Board Financial Accounting Standards No. 161 — In March 2008, the FASB released Statement of Financial Accounting Standards No. 161, “Disclosures about Derivative Instruments and Hedging Activities” (“FAS 161”). FAS 161 requires companies to disclose information detailing the objectives and strategies for using derivative instruments, the level of derivative activity entered into by the company and any credit risk-related contingent features of the agreements. The application of FAS 161 is required for fiscal years and interim periods beginning after November 15, 2008. At this time, management is evaluating the implications of FAS 161 and has not yet implemented the new disclosure standard.
r)	Indemnifications: Under the Company’s organizational documents, the Company shall indemnify its officers and directors to the full extent required or permitted under Maryland General Corporation Law and the federal securities law.

21

The Hartford Income Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

In addition, the Company, on behalf of the Fund, may enter into contracts that contain a variety of indemnifications. The Company’s maximum exposure under these arrangements is unknown. However, the Company has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote.

3. Futures and Options:

Futures and Options Transactions — The Fund may invest in futures and options contracts in order to gain exposure to or protect against changes in the market. A futures contract is an agreement between two parties to buy and sell a security at a set price on a future date. When the Fund enters into such futures contracts, it is required to deposit with a futures commission merchant an amount of “initial margin” of cash, commercial paper or U.S. Treasury Bills. Subsequent payments, called variation margin, to and from the broker, are made on a daily basis as the price of the underlying security fluctuates, making the long and short positions in the futures contract more or less valuable (i.e., mark-to-market), which results in an unrealized gain or loss to the Fund.

At any time prior to the expiration of the futures contract, the Fund may close the position by taking an opposite position, which would effectively terminate the position in the futures contract. A final determination of variation margin is then made, additional cash is required to be paid by or released to the Fund and the Fund realizes a gain or loss.

The use of futures contracts involves elements of market risk, which may exceed the amounts recognized in the Statement of Assets and Liabilities. Changes in the value of the futures contracts may decrease the effectiveness of the Fund’s strategy and potentially result in loss. The Fund, as shown on the Schedule of Investments, had outstanding futures contracts as of April 30, 2009.

The premium paid by the Fund for the purchase of a call or put option is included in the Fund’s Statement of Assets and Liabilities as an investment and subsequently “marked-to-market” through net unrealized appreciation (depreciation) of options to reflect the current market value of the option as of the end of the reporting period.

The Fund may write (sell) covered options. “Covered” means that so long as the Fund is obligated as the writer of an option, it will own either the underlying securities or currency or an option to purchase or sell the same underlying securities or currency having an expiration date of the covered option and an exercise price equal to or less than the exercise price of the covered option, or will pledge cash or other liquid securities having a value equal to or greater than the fluctuating market value of the option securities or currencies. The Fund receives a premium for writing a call or put option, which is recorded on the Fund’s Statement of Assets and Liabilities and subsequently “marked-to- market” through net unrealized appreciation (depreciation) of options. There is a risk of loss from a change in the value of such options, which may exceed the related premiums received. As of April 30, 2009, there were no outstanding written options contracts.

4. Federal Income Taxes:

a) Federal Income Taxes — For federal income tax purposes, the Fund intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code (“IRC”) by distributing substantially all of its taxable net investment income and net realized capital gains to its shareholders and otherwise complying with the requirements of regulated investment companies. The Fund has distributed substantially all of its income and capital gains in prior years and the Fund intends to distribute substantially all of its income and gains during the calendar year ending December 31, 2009. Accordingly, no provision for federal income or excise taxes has been made in the accompanying financial statements. Distributions from short-term capital gains are treated as ordinary income distributions for federal income tax purposes.

22

b) The tax character of distributions paid by the Fund for the periods indicated is as follows (as adjusted for dividends payable):

	For the Year Ended		For the Year Ended
	October 31, 2008		October 31, 2007
Ordinary Income	$	18,595	$	13,076

As of October 31, 2008, the Fund’s components of distributable earnings (deficit) on a tax basis were as follows:

	Amount
Undistributed Ordinary Income	$	274
Accumulated Capital Losses*	$	(17,396	)
Unrealized Depreciation†	$	(50,899	)
Total Accumulated Deficit	$	(68,021	)

*	The Fund has capital loss carryforwards that are identified in the Capital Loss Carryforward note that follows.
†	The differences between book-basis and tax-basis unrealized appreciation (depreciation) are attributable to the tax deferral of wash sales losses, the mark-to-market adjustment for certain derivatives in accordance with IRC Sec. 1256, the mark to market for Passive Foreign Investment Companies and basis differences in real estate investment trusts.

c)

Reclassification of Capital Accounts — In accordance with American Institute of Certified Public Accountants (AICPA) Statement of Position 93-2, Determination, Disclosure, and Financial Statement Presentation of Income, Capital Gain, and Return of Capital Distributions by Investment Companies, the Fund has recorded reclassifications in its capital accounts. These reclassifications had no impact on the NAV of the Fund. The reclassifications are a result of permanent differences between GAAP and tax accounting for such items as net operating losses that reduce distribution requirements. Adjustments are made to reflect the impact these items have on current and future distributions to shareholders. Therefore, the source of the Fund’s distributions may be shown in the accompanying Statement of Changes in Net Assets as from net investment income, from net realized gains on investments or from capital depending on the type of book and tax differences that exist. As of October 31, 2008, the Fund recorded reclassifications to decrease undistributed net investment income by $266 and increase accumulated net realized gain by $266.

d)

Capital Loss Carryforward — At October 31, 2008 (tax-year-end), the Fund had capital loss carryforwards for U.S. federal income tax purposes of approximately:

Year	Amount
2013	$	311
2014		262
2015		161
2016		16,662
Total	$	17,396

e) Financial Accounting Standards Board Interpretation No. 48 — On July 13, 2006, the FASB released FASB Interpretation No. 48 “Accounting for Uncertainty in Income Taxes” (“FIN 48”). FIN 48 provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. The Fund adopted FIN 48 for fiscal years beginning after December 15, 2006. Management has evaluated the implications of FIN 48 for all open tax years (tax years ended October 31, 2006 – 2008) and has determined there is no impact to the Fund’s financial statements.

23

The Hartford Income Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

5. Expenses:

a)

Investment Management Agreements — Hartford Investment Financial Services, LLC (“HIFSCO”) serves as investment manager to the Fund pursuant to an Investment Management Agreement with The Hartford Mutual Funds, Inc. As investment manager, HIFSCO has overall investment supervisory responsibility for the Fund. In addition, HIFSCO provides administrative personnel, services, equipment, facilities and office space for proper operation of the Fund. HIFSCO has contracted with Hartford Investment Management for the provision of day-to-day investment management services to the Fund in accordance with the Fund’s investment objective and policies. The Fund pays a fee to HIFSCO, a portion of which may be used to compensate Hartford Investment Management.

The schedule below reflects the rates of compensation paid to HIFSCO for investment management services rendered during the six-month period ended April 30, 2009; the rates are accrued daily and paid monthly:

Average Daily Net Assets	Annual Fee
On first $500 million		0.55	%
On next $4.5 billion		0.50	%
On next $5 billion		0.48	%
Over $10 billion		0.47	%

b) Accounting Services Agreement — Pursuant to the Fund Accounting Agreement between Hartford Life Insurance Company (“HLIC”) and the Fund, HLIC provides accounting services to the Fund and receives monthly compensation on the Fund’s average net assets. The Fund’s accounting service fees are accrued daily and paid monthly.

Average Daily Net Assets	Annual Fee
On first $5 billion		0.018	%
On next $5 billion		0.016	%
Over $10 billion		0.014	%

c) Operating Expenses — Allocable expenses incurred by the Company are allocated to each Fund and allocated to classes within the Fund in proportion to the average daily net assets of the Fund and each class, except where allocation of certain expenses is more fairly made directly to the Fund or to specific classes within a Fund. During the six-month period ended April 30, 2009, HIFSCO has contractually limited the total operating expenses of this Fund, exclusive of taxes, interest expense, brokerage commissions, certain distribution expenses and extraordinary expenses as follows:

Class A	Class B			Class C			Class Y
0.95%		1.70	%		1.70	%		0.70	%

d) Fees Paid Indirectly — The Fund’s custodian bank has agreed to reduce its fees when the Fund maintains cash on deposit in the non-interest-bearing custody account. For the six-month period ended April 30, 2009, this amount is included in the Statement of Operations.

24

The ratio of expenses to average net assets in the accompanying financial highlights excludes the reduction in expenses related to fees paid indirectly. Had the fees paid indirectly been included, the annualized expense ratio for the periods listed below would have been as follows:

	Annualized
	Six-Month
	Period			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended
	Ended April			October 31,			October 31,			October 31,			October 31,			October 31,
	30, 2009			2008			2007			2006			2005			2004
Class A Shares		0.95	%		0.95	%		0.95	%		0.95	%		0.95	%		1.00	%
Class B Shares		1.65			1.70			1.70			1.70			1.70			1.70
Class C Shares		1.70			1.70			1.70			1.70			1.70			1.70
Class Y Shares		0.66			0.63			0.68			0.70			0.70			0.70	*

* From November 28, 2003 (commencement of operations), through October 31, 2004

e)	Distribution and Service Plan for Class A, B and C Shares — HIFSCO is the principal underwriter and distributor of the Fund. HIFSCO is engaged in distribution activities, which include marketing and distribution of shares through broker-dealers, financing distribution costs and maintaining financial books and records. For the six-month period ended April 30, 2009, HIFSCO received front-end load sales charges of $342 and contingent deferred sales charges of $8 from the Fund.
	The Fund has adopted Distribution and Service Plans in accordance with Rule 12b-1 of the Investment Company Act of 1940, as amended, to compensate the distributor (HIFSCO) for activities intended to result in the sale and distribution of Classes A, B and C shares and for providing services for shareholders. The Rule 12b-1 plan applicable to Class A shares of the Funds provides for payment of a Rule 12b-1 fee of up to 0.35% of average daily net assets; however, the Board of Directors has currently authorized 12b-1 payments of only up to 0.25%. Some or all of the fee may be used for shareholder servicing expenses with the remainder used for distribution expenses. Some or the entire Rule 12b-1 fee for Class B shares may be remitted to broker-dealers for distribution and/or shareholder account services. Under the Class B Plan, the Fund pays the distributor 1.00% of the average daily net assets of Class B shares that are outstanding for 8 years or less, 0.25% of which is a fee for services provided to existing shareholders with the remainder used for distribution expenses. After eight years, Class B shares convert to Class A shares. Upon conversion to Class A shares, the Class A plan described above will apply to those shares. Under the Class C Plan, the Fund pays the Distributor 1.00% of the average daily net assets of Class C shares outstanding, 0.25% of which is intended as a fee for services provided to existing shareholders with the remainder used for distribution expenses. For Class C shares, some or the entire fee may be remitted to broker-dealers for distribution and/or shareholder account services. The Fund’s 12b-1 fees are accrued daily and paid monthly.
	For the six-month period ended April 30, 2009, total sales commissions paid to affiliated brokers/dealers of The Hartford for distributing the Fund’s shares were $4. These commissions are in turn paid to sales representatives of the broker/dealers.
f)	Other Related Party Transactions — Certain officers of the Fund are directors and/or officers of HIFSCO and/or The Hartford or its subsidiaries. For the six-month period ended April 30, 2009, a portion of the Fund’s chief compliance officer’s salary was paid by the Fund in an amount, which rounds to zero. Hartford Administrative Services Company (“HASCO”), an indirect wholly owned subsidiary of The Hartford, provides transfer agent services to the Fund. HASCO was compensated $104 for providing such services. These fees are accrued daily and paid monthly.

25

The Hartford Income Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

6.	Investment Transactions:
	For the six-month period ended April 30, 2009, the Fund’s aggregate purchases and sales of investment securities (excluding short-term investments) were as follows:

	Amount
Cost of Purchases Excluding U.S. Government Obligations	$	141,207
Sales Proceeds Excluding U.S. Government Obligations		186,779

7.	Capital Share Transactions:
	The following information is for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	For the Six-Month Period Ended April 30, 2009												For the Year Ended October 31, 2008
			Shares					Shares							Shares					Shares
			Issued for					Issued		Net Increase					Issued for					Issued		Net Increase
	Shares		Reinvested		Shares			from		(Decrease) of			Shares		Reinvested		Shares			from		(Decrease) of
	Sold		Dividends		Redeemed			Merger		Shares			Sold		Dividends		Redeemed			Merger		Shares
Class A
Shares		2,985		268		(2,821	)		—		432			5,059		410		(5,290	)		—		179
Amount	$	24,862	$	2,233	$	(23,447	)	$	—	$	3,648		$	49,096	$	3,912	$	(50,943	)	$	—	$	2,065
Class B
Shares		228		21		(227	)		—		22			343		38		(412	)		—		(31	)
Amount	$	1,893	$	176	$	(1,889	)	$	—	$	180		$	3,347	$	368	$	(3,967	)	$	—	$	(252	)
Class C
Shares		583		27		(231	)		—		379			1,001		44		(881	)		—		164
Amount	$	4,877	$	232	$	(1,927	)	$	—	$	3,182		$	9,674	$	423	$	(8,460	)	$	—	$	1,637
Class Y
Shares		67		435		(5,551	)		—		(5,049	)		2,605		1,250		(8,011	)		—		(4,156	)
Amount	$	559	$	3,621	$	(45,492	)	$	—	$	(41,312	)	$	25,488	$	11,985	$	(71,433	)	$	—	$	(33,960	)

The following reflects the conversion of Class B Shares into Class A Shares (reflected as Class A Shares issued and Class B shares redeemed) for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	Shares		Dollars
For the Six-Month Period Ended April 30, 2009		31	$	261
For the Year Ended October 31, 2008		35	$	336

8.

Line of Credit:

The Fund is one of several Hartford Funds that participate in a $500 million committed revolving line of credit facility. The facility is to be used for temporary or emergency purposes. Under the arrangement, the Fund is required to own securities having a market value in excess of 300% of the total bank borrowings. The interest rate on borrowings varies depending on the nature of the loan. The facility also requires a fee to be paid based on the amount of the commitment. During the six-month period ended April 30, 2009, the Fund did not have any borrowings under this facility.

26

The Hartford Income Fund

Financial Highlights — (Unaudited)

			— Selected Per-Share Data — (a)																															— Ratios and Supplemental Data —
																																			Ratio of			Ratio of			Ratio of
																																			Expenses			Expenses			Expenses
																																			to Average			to Average			to Average
																																			Net Assets			Net Assets			Net Assets
																																			Before			After			After
							Net																												Waivers			Waivers			Waivers
							Realized																												and			and			and			Ratio of
							and Un-									Distrib-								Net											Reimburse-			Reimburse-			Reimburse-			Net
			Net		Pay-		realized						Dividends			utions								Increase			Net								ments and			ments and			ments and			Invest-			Port-
	Net Asset		Invest-		ments		Gain						from Net			from			Distri-					(Decrease)			Asset					Net Assets			Including			Including			Excluding			ment			folio
	Value at		ment		from		(Loss) on			Total from			Invest-			Realized			butions		Total			in Net			Value at					at End of			Expenses			Expenses			Expenses			Income to			Turn-
	Beginning		Income		(to)		Invest-			Investment			ment			Capital			from		Distri-			Asset			End of		Total			Period			not Subject			not Subject			not Subject			Average			over
Class	of Period		(Loss)		Affiliate		ments			Operations			Income			Gains			Capital		butions			Value			Period		Return(b)			(000's)			to Cap(c)			to Cap(c)			to Cap(c)			Net Assets			Rate(d)
For the Six-Month Period Ended April 30, 2009 (Unaudited)
A	$	8.28	$	0.25	$	—	$	0.33		$	0.58		$	(0.26	)	$	—		$	—	$	(0.26	)	$	0.32		$	8.60		7.09	%(e)	$	88,392			1.11	%(f)		0.95	%(f)		0.95	%(f)		6.06	%(f)		69	%
B		8.28		0.22		—		0.32			0.54			(0.23	)		—			—		(0.23	)		0.31			8.59		6.59	(e)		8,263			2.00	(f)		1.65	(f)		1.65	(f)		5.35	(f)		—
C		8.30		0.22		—		0.31			0.53			(0.22	)		—			—		(0.22	)		0.31			8.61		6.56	(e)		16,771			1.81	(f)		1.70	(f)		1.70	(f)		5.28	(f)		—
Y		8.27		0.26		—		0.32			0.58			(0.27	)		—			—		(0.27	)		0.31			8.58		7.12	(e)		101,920			0.66	(f)		0.66	(f)		0.66	(f)		6.41	(f)		—
For the Year Ended October 31, 2008
A		10.14		0.54		—		(1.87	)		(1.33	)		(0.53	)		—			—		(0.53	)		(1.86	)		8.28		(13.71	)		81,569			1.02			0.95			0.95			5.53			177
B		10.14		0.47		—		(1.87	)		(1.40	)		(0.46	)		—			—		(0.46	)		(1.86	)		8.28		(14.36	)		7,779			1.91			1.70			1.70			4.79			—
C		10.16		0.47		—		(1.87	)		(1.40	)		(0.46	)		—			—		(0.46	)		(1.86	)		8.30		(14.34	)		13,007			1.76			1.70			1.70			4.79			—
Y		10.12		0.57		—		(1.86	)		(1.29	)		(0.56	)		—			—		(0.56	)		(1.85	)		8.27		(13.37	)		139,935			0.63			0.63			0.63			5.85			—
For the Year Ended October 31, 2007
A		10.33		0.57		—		(0.19	)		0.38			(0.57	)		—			—		(0.57	)		(0.19	)		10.14		3.77			98,047			1.08			0.95			0.95			5.72			147
B		10.33		0.50		—		(0.20	)		0.30			(0.49	)		—			—		(0.49	)		(0.19	)		10.14		3.00			9,837			1.95			1.70			1.70			4.92			—
C		10.35		0.50		—		(0.19	)		0.31			(0.50	)		—			—		(0.50	)		(0.19	)		10.16		3.01			14,263			1.82			1.70			1.70			4.92			—
Y		10.32		0.60		—		(0.20	)		0.40			(0.60	)		—			—		(0.60	)		(0.20	)		10.12		3.97			213,417			0.68			0.68			0.68			5.95			—
For the Year Ended October 31, 2006
A		10.24		0.54		—		0.08			0.62			(0.53	)		—			—		(0.53	)		0.09			10.33		6.24			37,168			1.21			0.95			0.95			5.35			175
B		10.24		0.46		—		0.08			0.54			(0.45	)		—			—		(0.45	)		0.09			10.33		5.45			7,224			2.06			1.70			1.70			4.60			—
C		10.26		0.46		—		0.08			0.54			(0.45	)		—			—		(0.45	)		0.09			10.35		5.44			8,101			1.96			1.70			1.70			4.61			—
Y		10.24		0.56		—		0.08			0.64			(0.56	)		—			—		(0.56	)		0.08			10.32		6.41			60,690			0.78			0.70			0.70			5.63			—
For the Year Ended October 31, 2005
A		10.72		0.51		—		(0.44	)		0.07			(0.51	)		(0.04	)		—		(0.55	)		(0.48	)		10.24		0.70			28,942			1.20			0.95			0.95			4.80			188
B		10.72		0.43		—		(0.43	)		—			(0.44	)		(0.04	)		—		(0.48	)		(0.48	)		10.24		(0.04	)		5,973			2.06			1.70			1.70			4.05			—
C		10.74		0.43		—		(0.43	)		—			(0.44	)		(0.04	)		—		(0.48	)		(0.48	)		10.26		(0.03	)		5,142			1.96			1.70			1.70			4.05			—
Y		10.72		0.52		—		(0.42	)		0.10			(0.54	)		(0.04	)		—		(0.58	)		(0.48	)		10.24		0.98			16,431			0.79			0.70			0.70			5.16			—
For the Year Ended October 31, 2004
A		10.53		0.48		—		0.22			0.70			(0.51	)		—			—		(0.51	)		0.19			10.72		6.85			29,580			1.14			1.00			1.00			4.60			167
B		10.53		0.42		—		0.21			0.63			(0.44	)		—			—		(0.44	)		0.19			10.72		6.10			5,541			1.95			1.70			1.70			3.90			—
C		10.55		0.41		—		0.22			0.63			(0.44	)		—			—		(0.44	)		0.19			10.74		6.09			5,562			1.88			1.70			1.70			3.90			—
Y(g)		10.54		0.48		—		0.20			0.68			(0.50	)		—			—		(0.50	)		0.18			10.72		6.57	(e)		10			0.73	(f)		0.70	(f)		0.70	(f)		4.89	(f)		—

(a)	Information presented relates to a share outstanding throughout the indicated period.
(b)	Assumes initial investment at net asset value at the beginning of each period, reinvestment of all distributions, the complete redemption of the investment at net asset value at the end of each period and no sales charge. Total return would be reduced if sales charges were taken into account.
(c)	Ratios do not include fees paid indirectly (See Expenses in the accompanying Notes to Financial Statements).
(d)	Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between the classes of shares issued.
(e)	Not annualized.
(f)	Annualized.
(g)	Commenced operations on November 28, 2003.

27

The Hartford Income Fund

Directors and Officers (Unaudited)

The Board of Directors appoints officers who are responsible for the day-to-day operations of the Fund and who execute policies formulated by the Directors. Each director serves until his or her death, resignation, or retirement or until the next annual meeting of shareholders is held or until his or her successor is elected and qualifies.

Directors and officers who are employed by or who have a financial interest in The Hartford are considered “interested” persons of the Fund pursuant to the Investment Company Act of 1940, as amended. Each officer and three of the Fund’s directors, as noted in the chart below, are “interested” persons of the Fund. Each director serves as a director for The Hartford Mutual Funds, Inc., The Hartford Mutual Funds II, Inc., The Hartford Income Shares Fund, Inc., Hartford Series Fund, Inc., and Hartford HLS Series Fund II, Inc., which collectively consist of 100 funds. Correspondence may be sent to directors and officers c/o Hartford Mutual Funds, P.O. Box 2999, Hartford, Connecticut 06104-2999, except that correspondence to Ms. Fagely may be sent to 500 Bielenberg Drive, Woodbury, Minnesota 55125.

The table below sets forth, for each director and officer, his or her name, year of birth, current position with the Fund and date first elected or appointed to The Hartford Mutual Funds, Inc. (“MF”) and The Hartford Mutual Funds II, Inc. (“MF2”), principal occupation, and, for directors, other directorships held. The Fund’s statement of additional information contains further information on the directors and is available free of charge by calling 1-888-843-7824 or writing to Hartford Mutual Funds, P.O. Box 64387, St. Paul, MN 55164-0387.

Information on the aggregate remuneration paid to the directors of the Fund can be found in the Statement of Operations herein. The Fund pays a portion of the Chief Compliance Officer’s compensation, but does not pay salaries or compensation to any of its officers or directors who are employed by The Hartford.

Non-Interested Directors

Lynn S. Birdsong (1946) Director since 2003, Co-Chairman of the Investment Committee

Mr. Birdsong is a private investor. Since 1981, Mr. Birdsong has been a partner in Birdsong Company, an advertising specialty firm. Since 2003, Mr. Birdsong has been an independent director of The Japan Fund. From 2003 to March 2005, Mr. Birdsong was an independent director of the Atlantic Whitehall Funds. From 1979 to 2002, Mr. Birdsong was a managing director of Zurich Scudder Investments, an investment management firm. During his employment with Scudder, Mr. Birdsong was an interested director of The Japan Fund.

Robert M. Gavin, Jr. (1940) Director since 2002 (MF) and 1986 (MF2), Chairman of the Board since 2004

Dr. Gavin is an educational consultant. Prior to September 1, 2001, he was President of Cranbrook Education Community and prior to July 1996, he was President of Macalester College, St. Paul, Minnesota.

Duane E. Hill (1945) Director since 2001 (MF) and 2002 (MF2), Chairman of the Nominating Committee

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

Sandra S. Jaffee (1941) Director since 2005

Ms. Jaffee is Chairman and Chief Executive Officer of Fortent (formerly Searchspace Group), a leading provider of compliance/regulatory technology to financial institutions. Ms. Jaffee served as an Entrepreneur in Residence with Warburg Pincus, a private equity firm, from August 2004 to August 2005. From September 1995 to July 2004, Ms. Jaffee served as Executive Vice President at Citigroup, where she was President and Chief Executive Officer of Citibank’s Global Securities Services (1995-2003).

William P. Johnston (1944) Director since 2005, Chairman of the Compliance Committee

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

28

Phillip O. Peterson (1944) Director since 2002 (MF) and 2000 (MF2), Chairman of the Audit Committee

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

Lemma W. Senbet (1946) Director since 2005

Dr. Senbet is the William E. Mayer Chair Professor of Finance at the University of Maryland, Robert H. Smith School of Business. He was chair of the Finance Department during 1998-2006. Previously he was an endowed professor of finance at the University of Wisconsin-Madison. Also, he was director of the Fortis Funds from March 2000-July 2002. Dr. Senbet served the finance profession in various capacities, including as director of the American Finance Association and President of the Western Finance Association. In 2006, Dr. Senbet was inducted Fellow of Financial Management Association International for his career-long distinguished scholarship and professional service.

Interested Directors and Officers

Thomas M. Marra* (1958) Director since 2002

Mr. Marra has served as President and Chief Operating Officer of The Hartford Financial Services Group, Inc. (“The Hartford”) since 2007. Mr. Marra currently serves as Director of Hartford Life, Inc. (“HL, Inc.”). Mr. Marra served as Chief Operating Officer of Hartford Life Insurance Company, Inc. (“Hartford Life”) (2000-2008), as President of Hartford Life (2002-2008) and as Director of Hartford Life’s Investment Products Division from 1998 to 2000.

* On February 24, 2009, The Hartford and Mr. Marra determined to enter into a mutually agreed separation whereby Mr. Marra will retire, and his role as an executive officer and employee of The Hartford will terminate, effective July 3, 2009. Mr. Marra will resign his position as a Director of the Fund effective June 25, 2009.

Lowndes A. Smith (1939) Director since 2002, Co-Chairman of the Investment Committee

Mr. Smith served as Vice Chairman of The Hartford from February 1997 to January 2002, as President and Chief Executive Officer of Hartford Life, Inc. from February 1997 to January 2002, and as President and Chief Operating Officer of The Hartford Life Insurance Companies from January 1989 to January 2002. Mr. Smith serves as a Director of White Mountains Insurance Group, Ltd., One Beacon Insurance, Symetra Financial and as a Managing Director of Whittington Gray Associates.

John C. Walters* (1962) Director since 2008

Mr. Walters currently serves as Chief Executive Officer, President and Director of HL, Inc. Mr. Walters previously served as President of the U.S. Wealth Management Division of Hartford Life, Inc., as Co-Chief Operating Officer of Hartford Life Insurance Company (2007-2008) and as Executive Vice President and Director of its Investment Products Division (2000-2008). Mr. Walters also serves as Chairman of the Board, Chief Executive Officer, President and Director of Hartford Life Insurance Company and as Executive Vice President of The Hartford. In addition, Mr. Walters is Manager of HL Investment Advisors, LLC (“HL Advisors”).

* Mr. Walters previously served as President and Chief Executive Officer of the Fund (2007 — 2009).

Other Officers

Robert M. Arena, Jr. (1968) President and Chief Executive Officer since 2009 (served as Vice President of the Fund (2006 – 2009))

Mr. Arena serves as Executive Vice President of Hartford Life Insurance Company, (“Hartford Life”). Additionally, Mr. Arena is Director and Senior Vice President of Hartford Administrative Services Company, (“HASCO”), Manager, Chief Executive Officer and President of Hartford Investment Financial Services, LLC (“HIFSCO”) and HL Advisors. Prior to joining The Hartford in 2004, he was Senior Vice President in charge of Product Management for American Skandia/Prudential in the individual annuities division. Mr. Arena joined American Skandia in 1996.

Tamara L. Fagely (1958) Vice President, Treasurer and Controller since 2002 (MF) 1993 (MF2)

Ms. Fagely has been a Vice President of HASCO since 1998 and Chief Financial Officer since 2006. Currently Ms. Fagely is a Vice President of Hartford Life. She served as Assistant Vice President of Hartford Life from December 2001 through March 2005. In addition, Ms. Fagely is Controller and Chief Financial Officer of HIFSCO.

Brian Ferrell (1962) AML Compliance Officer since 2008

Mr. Ferrell has served as Assistant Vice President and AML Compliance Officer for The Hartford since 2006 and as AML Compliance Officer for HASCO and Hartford Investor Services Company, LLC (“HISC”) since 2008. Prior to joining The Hartford in 2006, Mr. Ferrell held various positions at the U.S. Department of the Treasury, (the “Treasury”), from 2001 to 2006 where he served as Chief Counsel for the Treasury’s Financial Crimes Enforcement Network, (“FinCEN”) from 2005 – 2006.

29

The Hartford Income Fund
Directors and Officers (Unaudited) — (continued)

Thomas D. Jones, III (1965) Vice President and Chief Compliance Officer since 2006

Mr. Jones serves as Chief Compliance Officer for the Hartford Mutual Funds and Vice President and Director of Securities Compliance for The Hartford. He is also Vice President of HIFSCO, HL Advisors, and Hartford Life Insurance Company. Mr. Jones joined The Hartford in 2006 from SEI Investments, where he served as Chief Compliance Officer for its mutual funds and investment advisers. Prior to joining SEI, Mr. Jones was First Vice President and Compliance Director for Merrill Lynch Investment Managers (Americas) (“MLIM”), where he worked from 1992-2004. At MLIM, Mr. Jones was responsible for the compliance oversight of various investment products, including mutual funds, wrap accounts, institutional accounts and alternative investments.

Edward P. Macdonald (1967) Vice President, Secretary and Chief Legal Officer since 2005

Mr. Macdonald serves as Assistant General Counsel and Assistant Vice President of The Hartford and Chief Legal Officer and Vice President of HIFSCO. He also serves as Vice President and Secretary of HASCO, Assistant Vice President of Hartford Life, and Chief Legal Officer, Secretary and Vice President of HL Advisors. Prior to joining The Hartford in 2005, Mr. Macdonald was Chief Counsel, Investment Management for Prudential Financial (formerly American Skandia Investment Services, Inc.). He joined Prudential in April 1999.

Vernon J. Meyer (1964) Vice President since 2006

Mr. Meyer serves as Senior Vice President of Hartford Life and as Director of its Investment Advisory Group in the Individual Markets Group segment. He also serves as Senior Vice President of HIFSCO and HL Advisors. Prior to joining The Hartford in 2004, Mr. Meyer was with MassMutual which he joined in 1987.

D. Keith Sloane (1960) Vice President since 2009

Mr. Sloane is a Senior Vice President of Hartford Life where he serves as Director of mutual fund product management for The Hartford’s mutual funds and 529 college savings businesses. Additionally, Mr. Sloane currently serves as Senior Vice President of HIFSCO, HL Advisors, and HASCO. Prior to joining The Hartford in 2007, Mr. Sloane was Director of product marketing and led the mutual fund business for Wachovia Securities (“Wachovia”) in their investment products group. Mr. Sloane joined Wachovia in 1995.

Jane Wolak (1961) Vice President since 2009

Ms. Wolak currently serves as Vice President of Hartford Life. Ms. Wolak joined Hartford Life as Vice President, Retail Product Services in May 2007. She is also Vice President of HASCO. Previously, Ms. Wolak was with Sun Life Financial where she held the position of Vice President, Service Center Operations from 2001 – 2007.

HOW TO OBTAIN A COPY OF THE FUND’S PROXY VOTING POLICIES AND VOTING RECORDS

A description of the policies and procedures that the Fund uses to determine how to vote proxies relating to portfolio securities and a record of how the Fund voted any proxies for the twelve-month period ended June 30, 2008 is available (1) without charge, upon request, by calling
888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov.

QUARTERLY PORTFOLIO HOLDINGS INFORMATION

The Fund files a complete schedule of portfolio holdings with the Commission for the first and third quarters of each fiscal year on Form N-Q. The Fund’s Forms are available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov. The Form N-Q may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330.

30

The Hartford Income Fund

Expense Example (Unaudited)

Your Fund’s Expenses

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments and contingent deferred sales charges (CDSC) (2) ongoing costs including management fees; distribution fees; and other fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the period of October 31, 2008 through April 30, 2009.

Actual Expenses

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

Hypothetical Example for Comparison Purposes

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

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads) and CDSC. Therefore, the second line 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 are equal to the Fund’s annualized expense ratios multiplied by average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

	Actual return						Hypothetical (5% return before expenses)
					Expenses paid						Expenses paid					Days in
					during the period						during the period					the		Days
	Beginning		Ending Account		October 31, 2008		Beginning		Ending Account		October 31,		Annualized			current		in the
	Account Value		Value		through		Account Value		Value		2008 through		expense			1/2		full
	October 31, 2008		April 30, 2009		April 30, 2009		October 31, 2008		April 30, 2009		April 30, 2009		ratio			year		year
Class A	$	1,000.00	$	1,070.86	$	4.87	$	1,000.00	$	1,020.08	$	4.75		0.95	%		181		365
Class B	$	1,000.00	$	1,065.89	$	8.45	$	1,000.00	$	1,016.61	$	8.25		1.65			181		365
Class C	$	1,000.00	$	1,065.57	$	8.70	$	1,000.00	$	1,016.36	$	8.49		1.70			181		365
Class Y	$	1,000.00	$	1,071.19	$	3.39	$	1,000.00	$	1,021.52	$	3.31		0.66			181		365

31

The Hartford Inflation Plus Fund

Table of Contents

Manager Discussions (Unaudited)	2
Financial Statements
Schedule of Investments at April 30, 2009 (Unaudited)	4
Statement of Assets and Liabilities at April 30, 2009 (Unaudited)	6
Statement of Operations for the Six Month Period Ended April 30, 2009 (Unaudited)	7
Statement of Changes in Net Assets for the Six Month Period Ended April 30, 2009 (Unaudited) and the Year Ended October 31, 2008	8
Notes to Financial Statements (Unaudited)	9
Financial Highlights (Unaudited)	20
Directors and Officers (Unaudited)	21
How to Obtain a Copy of the Fund’s Proxy Voting Policies and Proxy Voting Records (Unaudited)	23
Quarterly Portfolio Holdings Information (Unaudited)	23
Expense Example (Unaudited)	24

The Hartford Inflation Plus Fund
(subadvised by Hartford Investment Management Company)

Performance Overview(1) 10/31/02 — 4/30/09
Growth of a $10,000 investment in Class A which includes Sales Charge

Barclays Capital U.S. TIPS Index represents securities that protect against adverse inflation and provide a minimum level of real return. To be included in this index, bonds must have cash flows linked to an inflation index, be sovereign issues denominated in U.S. currency, and have more than one year to maturity.

You cannot invest directly in an index.

The value of shares will fluctuate so that, when redeemed, shares may be worth more or less than their original cost. The chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.

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

Investment objective — Seeks a total return that exceeds the rate of inflation over an economic cycle.

Average Annual Total Returns(2,3,4) (as of 4/30/09)

	Inception		1			5			Since
	Date		Year			Year			Inception
Inflation Plus A#		10/31/02		-0.95	%		4.40	%		4.87	%
Inflation Plus A##		10/31/02		-5.41	%		3.45	%		4.13	%
Inflation Plus B#		10/31/02		-1.64	%		3.65	%		4.13	%
Inflation Plus B##		10/31/02		-6.40	%		3.31	%		4.13	%
Inflation Plus C#		10/31/02		-1.64	%		3.64	%		4.12	%
Inflation Plus C##		10/31/02		-2.59	%		3.64	%		4.12	%
Inflation Plus I#		10/31/02		-0.60	%		4.60	%		5.02	%
Inflation Plus R3#		11/28/03		-1.40	%		4.38	%		4.20	%
Inflation Plus R4#		11/28/03		-0.97	%		4.53	%		4.33	%
Inflation Plus R5#		11/28/03		-0.76	%		4.65	%		4.45	%
Inflation Plus Y#		11/28/03		-0.69	%		4.72	%		4.51	%

#	Without sales charge
##	With sales charge

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)	Growth of a $10,000 investment in Classes B, C, I, R3, R4, R5 and Y shares will vary from results seen above due to differences in the expenses charged to these share classes.
(2)	Class I shares commenced operations on 8/31/06. Performance prior to 8/31/06 reflects Class A performance. Class R3, R4 and R5 shares commenced operations on 12/22/06. Performance prior to 12/22/06 reflects Class Y performance.
(3)	The initial investment in Class A shares reflects the maximum sales charge and Classes B and C reflect CDSC.
(4)	Total returns presented above were calculated using the Fund’s net asset value available to shareholders for sale or redemption of Fund shares on April 30, 2009, which excludes investment transactions as of this date.

Portfolio Managers
John Hendricks	Timothy Wilhide*
Senior Vice President	Senior Vice President

How did the Fund perform?

The Class A shares of The Hartford Inflation Plus Fund returned 9.61%, before sales charge, for the six-month period ended April 30, 2009, versus its benchmark, the Barclays Capital U.S. Treasury Inflation Protected Securities Index, which returned 9.46%, and the 8.09% average return of the Lipper Treasury Inflation Protected Securities peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

During the six months ended April 30, 2009 Treasury Inflation Protected Securities (TIPS) were characterized by two distinct phases. In the last two months of 2008 deflation fears and extremely poor liquidity dominated the market; the first four months of 2009 marked a substantial recovery as slowly rising oil and gasoline prices eased deflation concerns and depressed valuations attracted investor interest.

The Fund benefited relative (i.e. performance of the Fund as measured against the benchmark) to the benchmark from

2

successful interest rate positioning and positive sector allocation. Sector allocation, particularly out of benchmark positions in cash equivalents and nominal treasuries, added to performance.

Security selection over the period detracted from performance as a result of the Fund’s underweight (i.e. the Fund’s sector position was less than the benchmark position) to short maturity TIPS during the final months of 2008 and early in 2009. This underweight was based on our view that the sharp drop in oil and gasoline prices in the wake of the collapse in U.S. economic activity would be deflationary in the short term, resulting in poor relative performance for short maturity TIPS. Additionally, the Fund minimized TIPS trading as liquidity in the TIPS market was poor. Accordingly, to the extent the Fund was positioned for lower interest rates, this underweight was offset within the TIPS market to longer duration TIPS or longer maturity nominal Treasuries either in the form of cash bonds or futures.

The TIPS market rebounded faster than we expected in early 2009 and short TIPS recovered much of the underperformance of late 2008. By late January we concluded that TIPS valuations and liquidity conditions were likely to continue to improve and we reestablished positions in short TIPS. While we didn’t anticipate TIPS breakevens (i.e. the implied CPI forecast as measured by the yield difference between TIPS and similar maturity nominal Treasuries) widening to the extent they did in the new year, we did tactically position for short term breakeven moves and did position for the steeper yield curve (i.e. short and long term interest rates moving farther apart).

What is the outlook?

Since early this year TIPS breakevens have been widening as the market increasingly accepts the premise that the actions of the Federal Open Market Committee (the Fed) will eventually produce inflation. This means that from a long term, multi -year point of view, TIPS are a very attractively priced asset class now. However, given the excess productive capacity (meaning new production of goods can be added with little chance of upward pressure on inflation) in the U.S. and around the world at this point, as well as a still very weak outlook for final demand, it is difficult to make a strong case that inflation will surge anytime soon. Accordingly, the Fund may hold an underweight to TIPS from time to time over the next few months until a clearer picture emerges for the trajectory of the economy and inflation.

* As disclosed in a supplement to the Fund’s prospectus, effective June 1, 2009, Timothy Wilhide will no longer serve as a portfolio manager of the Fund.

Distribution by Credit Quality

as of April 30, 2009

	Percentage of
	Long Term
Rating	Holdings
AAA		99.4	%
BBB		0.3
BB		0.2
Not Rated		0.1
Total		100.0	%

Diversification by Industry
as of April 30, 2009

	Percentage of
Industry	Net Assets
Consumer Cyclical		0.1	%
Health Care		0.1
Long Put Index Option Contract		0.1
Services		0.1
Technology		0.1
U.S. Government Securities		90.6
Short-Term Investments		3.7
Other Assets and Liabilities		5.2
Total		100.0	%

3

The Hartford Inflation Plus Fund

Schedule of Investments

April 30, 2009 (Unaudited)

(000’s Omitted)

Shares or Principal Amount			Market Value ╪
SENIOR FLOATING RATE INTERESTS: NON-INVESTMENT
GRADE ♦ — 0.4%
		Consumer Cyclical — 0.1%
		William Carter Co.
$	1,474	2.01%, 07/14/2012 ±	$	1,389
		Health Care — 0.1%
		Fresenius Medical Care AG
	992	2.61%, 03/31/2013 ±		935
		Orthofix Holdings, Inc.
	646	7.17%, 09/22/2013 ±		606
				1,541
		Services — 0.1%
		Regal Cinemas, Inc.
	938	4.97%, 10/27/2013 ±		904
		Technology — 0.1%
		Windstream Corp.
	982	2.50%, 07/17/2013 ±		913
		Total senior floating rate interests: non-investment grade (cost $4,978)	$	4,747
U.S. GOVERNMENT SECURITIES — 90.6%
		U.S. Treasury Securities — 90.6%
$	7,137	1.63%, 01/15/2015 ◄	$	7,891
	37,580	1.75%, 01/15/2028 ◄		34,246
	42,575	1.88%, 07/15/2013 — 2015◄		47,727
	353,204	2.00%, 04/15/2012 — 2026◄		387,675
	35,000	2.38%, 03/31/2016		34,377
	213,863	2.38%, 01/15/2017 — 2027 ◄		229,281
	98,610	2.50%, 07/15/2016 — 2029 ◄		103,771
	12,585	2.63%, 07/15/2017 ◄		13,803
	61,432	3.00%, 07/15/2012 ◄		76,532
	1,715	3.38%, 01/15/2012 ◄		2,172
	5,000	3.63%, 04/15/2028 ◄		7,572
				945,047
		Total U.S. government securities (cost $929,590)	$	945,047
Contracts			Market Value╪
PUT OPTIONS PURCHASED — 0.1%
		Long Put Future Option Contract — 0.0%
		10 Year U.S. Treasury Note
	1	Expiration: May, 2009, Exercise Price:
		$117.00	$	78
		U.S. Bond Future
	1	Expiration: May, 2009, Exercise Price:
		$113.00 Ø		73
				151
		Long Put Index Option Contract — 0.1%
		5 Year U.S. Treasury Note
	1	Expiration: June, 2009, Exercise Price:
		$116.00 Ø		497
		Total put options purchased (cost $1,649)	$	648
		Total long-term investments (cost $936,217)	$	950,442

Shares or Principal Amount					Market Value ╪
SHORT-TERM INVESTMENTS — 3.7%
		Investment Pools and Funds — 2.1%
	10,992	JP Morgan U.S. Government Money Market Fund			$	10,992
	—	State Street Bank U.S. Government Money Market Fund				—
	11,008	Wells Fargo Advantage Government Money Market Fund				11,008
						22,000
		Repurchase Agreements — 1.2%
		BNP Paribas Securities Corp. Repurchase Agreement (maturing on 05/01/2009 in the amount of $9,443, collateralized by U.S. Treasury Bond 5.38%, 2031, value of $9,621)
$	9,443	0.15%, 04/30/2009			$	9,443
		UBS Securities, Inc. Repurchase Agreement (maturing on 05/01/2009 in the amount of $2,641, collateralized by U.S. Treasury Bond 7.50%, 2024, value of $2,701)
	2,641	0.13%, 04/30/2009				2,641
						12,084
		U.S. Treasury Bills — 0.4%
$	3,400	0.12%, 07/16/2009 □ ○				3,399
	1,225	0.18%, 05/21/2009 ○ Ø				1,225
						4,624
		Total short-term investments (cost $38,708)			$	38,708
		Total investments (cost $974,925) ▲	94.8	%	$	989,150
		Other assets and liabilities	5.2	%		54,148
		Total net assets	100.0	%	$	1,043,298

Note:	Percentage of investments as shown is the ratio of the total market value to total net assets.
▲	At April 30, 2009, the cost of securities for federal income tax purposes was $993,755 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	23,307
Unrealized Depreciation		(27,912	)
Net Unrealized Depreciation	$	(4,605	)

◄	U.S. Treasury inflation-protected securities (TIPS) are securities in which the principal amount is adjusted for inflation and the semiannual interest payments equal a fixed percentage of the inflation-adjusted principal amount.
○	The interest rate disclosed for these securities represents the effective yield on the date of the acquisition.
±	The interest rate disclosed for these securities represents the average coupon as of April 30, 2009.

4

□ Security pledged as initial margin deposit for open futures contracts at April 30, 2009.

Futures Contracts Outstanding at April 30, 2009

					Unrealized
	Number of			Expiration	Appreciation/
Description	Contracts*		Position	Month	(Depreciation)
U.S. Long Bond		50	Short	Jun 2009	$	5

*	The number of contracts does not omit 000’s.
Ø	At April 30, 2009, securities valued at $180,336 were designated to cover open put options written as follows:

						Market
	Number of		Exercise		Exercise	Value		Premiums
Issuer	Contracts*		Price		Date	╪		Received
5 Year U.S. Treasury Note		624	$	115.00	Jun 2009	$	297	$	222
U.S. Bond Future		936		116.00	May 2009		220		1,455
						$	517	$	1,677

*

The number of contracts does not omit 000’s.

♦

Senior floating rate interests in which the Fund invests generally pay interest rates which are periodically adjusted by reference to a base short-term, floating lending rate plus a premium. These base lending rates are generally (i) the lending rate offered by one or more major European banks, such as the London Inter-Bank Offered Rate (LIBOR), (ii) the prime rate offered by one or more major United States Banks, or (iii) the bank’s certificate of deposit rate. Senior floating rate interests often require prepayments from excess cash flows or permit the borrower to repay at its election. The rate at which the borrower repays cannot be predicted with accuracy. As a result, the actual remaining maturity may be substantially less than the stated maturities shown. The interest rate is the rate in effect at April 30, 2009.

Forward Foreign Currency Contracts Outstanding at April 30, 2009

							Unrealized
	Market		Contract		Delivery		Appreciation/
Description	Value ╪		Amount		Date		(Depreciation)
Australian Dollar (Buy)	$	5,071	$	5,085		05/04/09	$	(14	)
Euro (Sell)		10,305		10,106		05/20/09		(199	)
Euro (Buy)		10,305		10,171		05/20/09		134
Euro (Buy)		5,377		5,376		05/27/09		1
Japanese Yen (Sell)		4,979		5,018		05/11/09		39
Japanese Yen (Buy)		4,982		5,000		05/11/09		(18	)
Japanese Yen (Buy)		2,486		2,540		05/11/09		(54	)
Japanese Yen (Sell)		4,971		5,016		05/11/09		45
Japanese Yen (Sell)		7,207		7,140		05/11/09		(67	)
Japanese Yen (Buy)		442		433		05/11/09		9
Japanese Yen (Buy)		5,039		4,960		05/11/09		79
Japanese Yen (Buy)		2,169		2,122		05/11/09		47
Japanese Yen (Buy)		2,493		2,540		05/11/09		(47	)
Japanese Yen (Buy)		8,814		8,809		05/12/09		5
Japanese Yen (Sell)		5,022		5,054		05/12/09		32
Japanese Yen (Sell)		5,013		5,028		05/12/09		15
Japanese Yen (Buy)		5,022		4,993		05/12/09		29
Japanese Yen (Buy)		5,013		4,993		05/12/09		20
Japanese Yen (Sell)		8,813		8,693		05/12/09		(120	)
							$	(64	)

╪ See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of securities.

FAS 157 Disclosure of Investment Valuation Hierarchy Levels

Assets:
Investment in securities — Level 1	$	76,672
Investment in securities — Level 2		912,478
Total	$	989,150
Other financial instruments — Level 1 *	$	1,240
Other financial instruments — Level 2 *		455
Total	$	1,695
Liabilities:
Other financial instruments — Level 1 *	$	75
Other financial instruments — Level 2 *		519
Total	$	594

* Other financial instruments are derivative instruments not reflected in the Schedule of Investments, such as futures, forwards and swap contracts, which are valued at the unrealized appreciation/depreciation on the investment.

5

The Hartford Inflation Plus Fund

Statement of Assets and Liabilities

April 30, 2009 (Unaudited)

(000’s Omitted)

Assets:
Investments in securities, at fair value (cost $974,925)	$	989,150
Foreign currency on deposit with custodian (cost $14)		13
Unrealized appreciation on forward foreign currency contracts		455
Receivables:
Investment securities sold		34,211
Fund shares sold		17,130
Dividends and interest		5,511
Variation margin		74
Other assets		202
Total assets		1,046,746
Liabilities:
Unrealized depreciation on forward foreign currency contracts		519
Bank overdraft — U.S. Dollars		12
Payables:
Fund shares redeemed		2,095
Investment management fees		90
Distribution fees		85
Variation margin		4
Accrued expenses		126
Written options		517
Total liabilities		3,448
Net assets	$	1,043,298
Summary of Net Assets:
Capital stock and paid-in-capital		1,075,593
Accumulated distribution in excess of net investment income		(20,979	)
Accumulated net realized loss on investments and foreign currency transactions		(26,642	)
Unrealized appreciation of investments and the translation of assets and liabilities denominated in foreign currency		15,326
Net assets	$	1,043,298
Shares authorized		600,000
Par value	$	0.001
Class A: Net asset value per share/Maximum offering price per share	$	10.67/$11.17
Shares outstanding		42,852
Net assets	$	457,443
Class B: Net asset value per share	$	10.63
Shares outstanding		8,106
Net assets	$	86,139
Class C: Net asset value per share	$	10.62
Shares outstanding		29,683
Net assets	$	315,246
Class I: Net asset value per share	$	10.72
Shares outstanding		3,944
Net assets	$	42,282
Class R3: Net asset value per share	$	10.66
Shares outstanding		99
Net assets	$	1,059
Class R4: Net asset value per share	$	10.69
Shares outstanding		119
Net assets	$	1,269
Class R5: Net asset value per share	$	10.70
Shares outstanding		9
Net assets	$	96
Class Y: Net asset value per share	$	10.71
Shares outstanding		13,052
Net assets	$	139,764

6

The Hartford Inflation Plus Fund

Statement of Operations

For the Six Month Period Ended April 30, 2009 (Unaudited)

(000’s Omitted)

Investment Income:
Interest	$	(15,397	)
Total investment income		(15,397	)
Expenses:
Investment management fees		2,299
Transfer agent fees		450
Distribution fees
Class A		446
Class B		397
Class C		1,330
Class R3		1
Class R4		1
Custodian fees		3
Accounting services		78
Registration and filing fees		74
Board of Directors’ fees		5
Audit fees		8
Other expenses		95
Total expenses (before waivers and fees paid indirectly)		5,187
Expense waivers		(406	)
Custodian fee offset		—
Total waivers and fees paid indirectly		(406	)
Total expenses, net		4,781
Net investment loss		(20,178	)
Net Realized Loss on Investments, Other Financial Instruments and Foreign Currency Transactions:
Net realized loss on investments in securities		(4,890	)
Net realized loss on futures and written options		(3,375	) *
Net realized gain on foreign currency transactions		377
Net Realized Loss on Investments, Other Financial Instruments and Foreign Currency Transactions		(7,888	)
Net Changes in Unrealized Appreciation of Investments, Other Financial Instruments and Foreign Currency Transactions
Net unrealized appreciation of investments		102,717
Net unrealized appreciation of futures and written options		1,114
Net unrealized depreciation on translation of other assets and liabilities in foreign currencies		(193	)
Net Changes in Unrealized Appreciation of Investments, Other Financial Instruments and Foreign Currency Transactions.		103,638
Net Gain on Investments, Other Financial Instruments and Foreign Currency Transactions		95,750
Net Increase in Net Assets Resulting from Operations	$	75,572

^* Realized losses on written options were $4,584.

7

The Hartford Inflation Plus Fund

Statement of Changes in Net Assets

(000’s Omitted)

	For the Six-Month
	Period Ended			For the
	April 30, 2009			Year Ended
	(Unaudited)			October 31, 2008
Operations:
Net investment income (loss)	$	(20,178	)	$	40,628
Net realized gain (loss) on investments, other financial instruments and foreign currency transactions		(7,888	)		2,090
Net unrealized appreciation (depreciation) of investments, other financial instruments and foreign currency transactions		103,638			(90,885	)
Net increase (decrease) in net assets resulting from operations		75,572			(48,167	)
Distributions to Shareholders:
From net investment income
Class A		(1,515	)		(14,746	)
Class B		(271	)		(3,680	)
Class C		(878	)		(10,507	)
Class I		(143	)		(791	)
Class R3		(1	)		(6	)
Class R4		—			(1	)
Class R5		—			(1	)
Class Y		(708	)		(10,227	)
Total distributions		(3,516	)		(39,959	)
Capital Share Transactions:
Class A		120,670			159,030
Class B		3,665			14,863
Class C		52,349			109,914
Class I		12,561			28,077
Class R3		818			237
Class R4		1,222			8
Class R5		64			19
Class Y		(10,752	)		(13,282	)
Net increase from capital share transactions		180,597			298,866
Net increase in net assets		252,653			210,740
Net Assets:
Beginning of period		790,645			579,905
End of period	$	1,043,298		$	790,645
Accumulated undistributed (distribution in excess of) net investment income (loss)	$	(20,979	)	$	2,715

8

The Hartford Inflation Plus Fund

Notes to Financial Statements

April 30, 2009 (Unaudited)

(000’s Omitted)

1.	Organization:
	The Hartford Mutual Funds, Inc. (“Company”) is an open-end management investment company comprised of fifty-two portfolios. Financial statements for The Hartford Inflation Plus Fund (the “Fund”), a series of the Company, are included in this report.
	The Company is organized under the laws of the State of Maryland and is registered with the Securities and Exchange Commission (“SEC”) under the Investment Company Act of 1940, as amended (“1940 Act”). The Fund is a non-diversified open-end management investment company.
	Class A shares are sold with a front-end sales charge of up to 4.50%. Class B shares are sold with a contingent deferred sales charge which is assessed on the lesser of the per share net asset value (“NAV”) of the shares at the time of redemption or the original purchase price, and declines from up to 5.00% to zero depending on the period of time the shares are held. Class C shares are sold with a contingent deferred sales charge of up to 1.00% on shares redeemed within twelve months of purchase. Class I shares are sold without sales charges to certain eligible investors through advisory fee-based wrap programs. Classes R3, R4, R5 shares, which are offered to employer-sponsored retirement plans, and Class Y shares, which are sold to certain eligible institutional investors, are sold without a sales charge. All classes of shares have identical voting, redemption, dividend, liquidation and other rights and the same terms and conditions, with the exceptions that each class may have different expenses, which may affect performance, and except that Class B shares automatically convert to Class A shares after 8 years.
	Effective at the close of business on September 30, 2009 (the “Close Date”), no new or additional investments will be allowed in Class B shares of The Hartford Mutual Funds (including investments through any systematic investment plan). After the Close Date, existing shareholders of Class B shares may continue to hold their Class B shares, exchange their Class B shares for Class B shares of another Hartford Mutual Fund (as permitted by existing exchange privileges), and redeem their Class B shares as described in the Fund’s prospectus. Reinstatement privileges with respect to Class B shares will continue under the current policy. If you have chosen to reinvest capital gains and dividends, any such capital gains or dividends on Class B shares will continue to be reinvested in Class B shares of the Fund. For Class B shares outstanding as of the Close Date, all Class B share attributes, including the 12b-1 fee, contingent deferred sales charge schedule, and conversion to Class A shares remain unchanged.
2.	Significant Accounting Policies:
	The following is a summary of significant accounting policies of the Fund, which are in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”).

a)	Security Transactions and Investment Income - Security transactions are recorded on the trade date (the date the order to buy or sell is executed). Security gains and losses are determined on the basis of identified cost.
	Trade date for senior floating rate interests purchased in the primary market is considered the date on which the loan allocations are determined. Trade date for senior floating rate loan interests purchased in the secondary market is the date on which the transaction is entered into.
	Interest income, including amortization of premium and accretion of discounts, is accrued on a daily basis.
b)	Security Valuation - The Fund generally uses market prices in valuing portfolio securities. If market prices are not readily available or are deemed unreliable, the Fund will use the fair value of the security as determined in good faith under policies and procedures established by and under the supervision of the Fund’s Board of Directors. Market prices may be deemed unreliable, for example, if a security is thinly traded or if an event has occurred after the close of the

9

The Hartford Inflation Plus Fund

Notes to Financial Statements — (continued)

April 30, 2009 (Unaudited)

(000’s Omitted)

	security’s primary markets, but before the close of the New York Stock Exchange (the “Exchange”) (normally 4:00 p.m. Eastern Time, referred to as the “Valuation Time”) that is expected to affect the value of the portfolio security. The circumstances in which the Fund may use fair value pricing include, among others: (i) the occurrence of events that are significant to a particular issuer, such as mergers, restructuring or defaults; (ii) the occurrence of events that are significant to an entire market, such as natural disasters in a particular region or governmental actions; (iii) trading restrictions on securities; (iv) thinly traded securities and (v) market events such as trading halts and early market closings.
	Debt securities (other than short-term obligations and senior floating rate interests) held by the Fund are valued on the basis of valuations furnished by an independent pricing service which determines valuations for normal institutional size trading units of debt securities. Senior floating rate interests generally trade in over-the-counter markets and are priced through an independent pricing service utilizing independent market quotations from loan dealers or financial institutions. Securities for which prices are not available from an independent pricing service are valued using market quotations obtained from one or more dealers that make markets in the securities in accordance with procedures established by the Fund’s Board of Directors. Generally, the Fund may use fair valuation in regard to debt securities when the Fund holds defaulted or distressed securities or securities in a company in which a reorganization is pending. Short-term investments with a maturity of more than 60 days when purchased are valued based on market quotations until the remaining days to maturity become less than 61 days. Investments that mature in 60 days or less are valued at amortized cost, which approximates market value.
	Options contracts on securities, currencies, indexes, futures contracts, commodities and other instruments shall be valued at their most recent sales price at the Valuation Time on the Primary Market on which the instrument is primarily traded. If the instrument did not trade on the Primary Market, it may be valued at the most recent sales price at the Valuation Time on another exchange or market where it did trade.
	Futures contracts are valued at the most recent settlement price reported by an exchange on which, over time, they are traded most extensively. If a settlement price is not available, futures contracts will be valued at the most recent trade price as of the Valuation Time. If there were no trades, the contract shall be valued at the mean of the closing bid/ask prices as of the Valuation Time.
	Financial instruments for which prices are not available from an independent pricing service are valued using market quotations obtained from one or more dealers that make markets in securities in accordance with procedures established by the Fund’s Board of Directors.
	A forward currency contract shall be valued based on the price of the underlying currency at the prevailing interpolated exchange rate, which is a combination of the spot currency rate and the forward currency rate. Spot currency rates and forward currency rates are obtained from an independent pricing service on a daily basis not more than one hour before the Valuation Time.
	Other derivative or contractual type instruments shall be valued using market prices if such instruments trade on an exchange or market. If such instruments do not trade on an exchange or market, such instruments shall be valued at a price at which the counterparty to such contract would repurchase the instrument. In the event that the counterparty cannot provide a price, such valuation may be determined in accordance with procedures established by the Fund’s Board of Directors.
	Investments in open-end mutual funds are valued at the respective NAV of each open-end mutual fund on the valuation date.
c)	Foreign Currency Transactions - The accounting records of the Fund are maintained in U.S. dollars. All assets and liabilities initially expressed in foreign currencies are converted into U.S. dollars at the prevailing exchange rates.

10

	Purchases and sales of investment securities, dividend and interest income and certain expenses are translated at the rates of exchange prevailing on the respective dates of such transactions.
	The Fund does not isolate that portion of portfolio security valuation resulting from fluctuations in the foreign currency exchange rates on portfolio securities from the fluctuations arising from changes in the market prices of securities held. Such fluctuations are included with the net realized and unrealized gain or loss on investments in the accompanying financial statements.
	Net realized foreign exchange gains or losses arise from sales of foreign currencies and the difference between asset and liability amounts initially stated in foreign currencies and the U.S. dollar value of the amounts actually received or paid. Net unrealized foreign exchange gains or losses arise from changes in the value of other assets and liabilities at the end of the reporting period, resulting from changes in the exchange rates.
d)	Joint Trading Account - Pursuant to an exemptive order issued by the SEC, the Fund may transfer uninvested cash balances into a joint trading account managed by Hartford Investment Management Company (“Hartford Investment Management”). These balances may be invested in one or more repurchase agreements and/or short-term money market instruments.
e)	Repurchase Agreements - A repurchase agreement is an agreement by which the seller of a security agrees to repurchase the security sold at a mutually agreed upon time and price. At the time the Fund enters into a repurchase agreement, the value of the underlying collateral security(ies), including accrued interest, will be equal to or exceed the value of the repurchase agreement. Securities that serve to collateralize the repurchase agreement are held by the Fund’s custodian in book entry or physical form in the custodial account of the Fund or in a third party custodial account. Repurchase agreements are valued at cost plus accrued interest. The Fund, as shown on the Schedule of Investments, had outstanding repurchase agreements as of April 30, 2009.
f)	Forward Foreign Currency Contracts - The Fund may enter into forward foreign currency contracts that obligate the Fund to repurchase/replace or sell currencies at specified future dates. Forward foreign currency contracts may be used to hedge against adverse fluctuations in exchange rates between currencies.
	Forward foreign currency contracts involve elements of market risk in excess of the amount reflected in the Statement of Assets and Liabilities. In addition, risks may arise upon entering into these contracts from the potential inability of the counterparties to meet the terms of the contracts and from unanticipated movements in the value of the foreign currencies relative to the U.S. dollar.
g)	Fund Share Valuation and Dividend Distributions to Shareholders — Orders for the Fund’s shares are executed in accordance with the investment instructions of the shareholders. The NAV of the Fund’s shares is determined as of the close of each business day of the Exchange. The NAV is determined separately for each class of the Fund by dividing the Fund’s net assets attributable to that class by the number of shares of the class outstanding. Orders for the purchase of the Fund’s shares prior to the close of the Exchange on any day on which the Exchange is open for business are priced at the NAV determined as of the close of the Exchange. Orders after the close of the Exchange, or on a day on which the Exchange and/or the Fund is not open for business, are priced at the next determined NAV.
	The Fund intends to distribute substantially all of its net investment income and net realized capital gains to shareholders no less frequently than once a year. Normally, dividends from net investment income of the Fund are declared daily and paid monthly. Dividends are paid on shares beginning on the business day after the day when the funds used to purchase the shares are collected by the transfer agent for the Fund. Unless shareholders specify otherwise, all dividends will be automatically reinvested in additional full or fractional shares of the Fund.
	Distributions from net investment income, realized capital gains and capital are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP with respect to character and timing. These differences include but are not limited to foreign currency gains and losses, losses deferred due to wash sales adjustments, adjustments related to Passive Foreign Investment Companies and certain derivatives, and excise tax regulations. Permanent book and federal income tax basis differences relating to shareholder distributions will result in

11

The Hartford Inflation Plus Fund

Notes to Financial Statements — (continued)

April 30, 2009 (Unaudited)

(000’s Omitted)

	reclassifications to certain of the Fund’s capital accounts (see Federal Income Taxes: Reclassification of Capital Accounts footnote).
h)	Securities Purchased on a When-Issued or Delayed-Delivery Basis — Delivery and payment for securities that have been purchased by the Fund on a forward commitment, or when-issued or delayed-delivery basis take place beyond the customary settlement period. During this period, such securities are subject to market fluctuations, and the Fund identifies securities segregated in its records with value at least equal to the amount of the commitment. As of April 30, 2009, the Fund had no outstanding when-issued or forward commitments.
i)	Credit Risk — Credit risk depends largely on the perceived financial health of bond issuers. In general, the credit rating is inversely related to the credit risk of the issuer. Higher rated bonds generally are deemed to have less credit risk, while lower or unrated bonds are deemed to have higher risk of default. The share price, yield and total return of a Fund which holds securities with higher credit risk may fluctuate more than with less aggressive bond funds.
j)	Senior Floating Rate Interests -The Fund, as shown in the Schedule of Investments, may invest in senior floating rate interests. Senior floating rate interests hold the most senior position in the capital structure of a business entity (the “Borrower”), are typically secured by specific collateral and have a claim on the assets and/or stock of the Borrower that is senior to that held by subordinated debtholders and stockholders of the Borrower. Senior floating rate interests are typically structured and administered by a financial institution that acts as the agent of the lenders participating in the senior floating rate interest. Senior floating rate interests are typically rated below-investment-grade, which suggests they are more likely to default and generally pay higher interest rates than investment-grade loans. A default could lead to non-payment of income which would result in a reduction of income to the Fund and there can be no assurance that the liquidation of any collateral would satisfy the Borrower’s obligation in the event of non-payment of scheduled interest or principal payments, or that such collateral could be readily liquidated.
k)	Prepayment Risks — Most senior floating rate interests and certain debt securities allow for prepayment of principal without penalty. Senior floating rate interests and securities subject to prepayment risk generally offer less potential for gains when interest rates decline, and may offer a greater potential for loss when interest rates rise. In addition, with respect to securities, rising interest rates may cause prepayments to occur at a slower than expected rate, thereby effectively lengthening the maturity of the security and making the security more sensitive to interest rate changes. Prepayment risk is a major risk of mortgage-backed securities and certain asset-backed securities. Accordingly, the potential for the value of a senior floating rate interest or debt security to increase in response to interest rate declines is limited. For certain asset-backed securities, the actual maturity may be less than the stated maturity shown in the Schedule of Investments. As a result, the timing of income recognition relating to these securities may vary based upon the actual maturity.
	Senior floating rate interests or debt securities purchased to replace a prepaid loan or a debt security may have lower yields than the yield on the prepaid loan or debt security. Senior floating rate interests generally are subject to mandatory and/or optional prepayment. Because of these mandatory prepayment conditions and because there may be significant economic incentives for the Borrower to repay, prepayments of senior floating rate interests may occur. As a result, the actual remaining maturity of senior floating rate interests held may be substantially less than the stated maturities shown in the Schedule of Investments.
l)	Use of Estimates — The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and the reported amounts of income and expenses during the period. Operating results in the future could vary from the amounts derived from management’s estimates.
m)	Financial Accounting Standards Board Financial Accounting Standards No. 157 - Effective November 1, 2008, the Fund adopted Financial Accounting Standards Board (“FASB”) Statement of Financial Accounting Standards No. 157, “Fair Value Measurements” (“FAS 157”). This standard clarifies the definition of fair value for financial reporting,

12

establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements. Fair value is defined under FAS 157 as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Under FAS 157, a fair value measurement should reflect all of the assumptions that market participants would use in pricing the asset or liability, including assumptions about the risk inherent in a particular valuation technique, the effect of a restriction on the sale or use of an asset, and the risk of nonperformance.

Various inputs are used in determining the value of the Fund’s investment. These inputs are summarized, per FAS 157, into three broad hierarchy levels. This hierarchy is based on whether the valuation inputs are observable or unobservable. These levels are:

• Level 1 — Quoted prices in active markets for identical securities. Level 1 includes exchange-traded instruments such as domestic equities, some foreign equities, options, futures, mutual funds, ETF’s, and rights and warrants.

• Level 2 — Observable inputs other than Level 1 prices, such as quoted prices for similar securities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the security. Level 2 includes debt securities that are traded less frequently than exchange-traded instruments and that are valued using third party pricing services and foreign equities, whose value is determined using a multi-factor regression model with inputs that are observable in the market; and money market instruments, which are carried at amortized cost.

• Level 3 — Significant unobservable inputs that are supported by little or no market activity. Level 3 includes financial instruments whose values are determined using broker quotes and require significant management judgment or estimation. This category includes broker quoted securities, long dated OTC options and securities where trading has been halted or there are certain restrictions on trading. While these securities are priced using unobservable inputs, the valuation of these securities reflects the best available data and management believes the prices are a good representation of exit price.

	Individual securities within any of the above mentioned asset classes may be assigned a different hierarchical level than those presented above, as individual circumstances dictate.
	FAS 157 also requires that a roll forward reconciliation be shown for all Level 3 securities from the beginning of the reporting period to the end of the reporting period. Part of this reconciliation includes transfers in and/or out of Level 3. For purposes of this reconciliation, transfers in are shown at the end of period fair value and transfers out are shown at the beginning of period fair value. During the six-month period ended April 30, 2009, the Fund held no Level 3 securities.
	Refer to the valuation hierarchy levels summary found following the Schedule of Investments.
	FASB Staff Position No. 157-4 - In April 2009, FASB released FASB Staff Position No. 157-4, “Determining Fair Value When the Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly” (“FSP FAS 157-4”). FSP FAS 157-4 provides additional guidance on determining whether a market for a financial asset is not active and a transaction is not distressed when measuring fair value under FAS 157. The FSP also requires additional disclosure detail on debt and equity securities by major investment categories. FSP FAS 157-4 is effective for interim and annual periods ending after June 15, 2009. At this time, management is evaluating the implications of FSP FAS 157-4 and does not believe it will impact valuation but will require additional disclosure. This additional disclosure has not yet been implemented.
n)	Financial Accounting Standards Board Financial Accounting Standards No. 161 - In March 2008, the FASB released Statement of Financial Accounting Standards No. 161, “Disclosures about Derivative Instruments and Hedging Activities” (“FAS 161”). FAS 161 requires companies to disclose information detailing the objectives and strategies for using derivative instruments, the level of derivative activity entered into by the company and any credit risk-related contingent features of the agreements. The application of FAS 161 is required for fiscal years and interim periods beginning after November 15, 2008. At this time, management is evaluating the implications of FAS 161 and has not yet implemented the new disclosure standard.

13

The Hartford Inflation Plus Fund

Notes to Financial Statements — (continued)

April 30, 2009 (Unaudited)

(000’s Omitted)

o) Indemnifications: Under the Company’s organizational documents, the Company shall indemnify its officers and directors to the full extent required or permitted under Maryland General Corporation Law and the federal securities law. In addition, the Company, on behalf of the Fund, may enter into contracts that contain a variety of indemnifications. The Company’s maximum exposure under these arrangements is unknown. However, the Company has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote.

3. Futures and Options:

Futures and Options Transactions - The Fund may invest in futures and options contracts in order to gain exposure to or protect against changes in the market. A futures contract is an agreement between two parties to buy and sell a security at a set price on a future date. When the Fund enters into such futures contracts, it is required to deposit with a futures commission merchant an amount of “initial margin” of cash, commercial paper or U.S. Treasury Bills. Subsequent payments, called variation margin, to and from the broker, are made on a daily basis as the price of the underlying security fluctuates, making the long and short positions in the futures contract more or less valuable (i.e., mark-to-market), which results in an unrealized gain or loss to the Fund.

At any time prior to the expiration of the futures contract, the Fund may close the position by taking an opposite position, which would effectively terminate the position in the futures contract. A final determination of variation margin is then made, additional cash is required to be paid by or released to the Fund and the Fund realizes a gain or loss.

The use of futures contracts involves elements of market risk, which may exceed the amounts recognized in the Statement of Assets and Liabilities. Changes in the value of the futures contracts may decrease the effectiveness of the Fund’s strategy and potentially result in loss. The Fund, as shown on the Schedule of Investments, had outstanding futures contracts as of April 30, 2009.

The premium paid by the Fund for the purchase of a call or put option is included in the Fund’s Statement of Assets and Liabilities as an investment and subsequently “marked-to-market” through net unrealized appreciation (depreciation) of options to reflect the current market value of the option as of the end of the reporting period.

The Fund may write (sell) covered options. “Covered” means that so long as the Fund is obligated as the writer of an option, it will own either the underlying securities or currency or an option to purchase or sell the same underlying securities or currency having an expiration date of the covered option and an exercise price equal to or less than the exercise price of the covered option, or will pledge cash or other liquid securities having a value equal to or greater than the fluctuating market value of the option securities or currencies. The Fund receives a premium for writing a call or put option, which is recorded on the Fund’s Statement of Assets and Liabilities and subsequently “marked-to-market” through net unrealized appreciation (depreciation) of options. There is a risk of loss from a change in the value of such options, which may exceed the related premiums received. Transactions involving written option contracts for the Fund during the six-month period ended April 30, 2009, are summarized below:

Options Contract Activity During the Six-Month Period Ended April 30, 2009

Call Options Written During the Period	Number of Contracts*			Premium Amounts
Beginning of the period		1,000		$	216
Written		14,843			15,014
Expired		—			—
Closed		(15,843	)		(15,230	)
Exercised		—			—
End of Period		—		$	—

Put Options Written During the Period	Number of Contracts*			Premium Amounts
Beginning of the period		—		$	—
Written		20,861			18,478
Expired		(1,248	)		(74	)
Closed		(18,053	)		(16,727	)
Exercised		—			—
End of Period		1,560		$	1,677

* The number of contracts does not omit 000’s.

14

4. Federal Income Taxes:

a)

Federal Income Taxes - For federal income tax purposes, the Fund intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code (“IRC”) by distributing substantially all of its taxable net investment income and net realized capital gains to its shareholders and otherwise complying with the requirements of regulated investment companies. The Fund has distributed substantially all of its income and capital gains in prior years and the Fund intends to distribute substantially all of its income and gains during the calendar year ending December 31, 2009. Accordingly, no provision for federal income or excise taxes has been made in the accompanying financial statements. Distributions from short-term capital gains are treated as ordinary income distributions for federal income tax purposes.

b)

The tax character of distributions paid by the Fund for the periods indicated is as follows (as adjusted for dividends payable):

	For the Year Ended		For the Year Ended
	October 31, 2008		October 31, 2007
Ordinary Income	$	40,029	$	18,827

As of October 31, 2008, the Fund’s components of distributable earnings (deficit) on a tax basis were as follows:

	Amount
Undistributed Ordinary Income	$	3,607
Unrealized Depreciation*	$	(107,811	)
Total Accumulated Deficit	$	(104,204	)

* The differences between book-basis and tax-basis unrealized appreciation (depreciation) are attributable to the tax deferral of wash sales losses, the mark-to-market adjustment for certain derivatives in accordance with IRC Sec. 1256, the mark to market for Passive Foreign Investment Companies and basis differences in real estate investment trusts.

c)	Reclassification of Capital Accounts - In accordance with American Institute of Certified Public Accountants (AICPA) Statement of Position 93-2, Determination, Disclosure, and Financial Statement Presentation of Income, Capital Gain, and Return of Capital Distributions by Investment Companies, the Fund has recorded reclassifications in its capital accounts. These reclassifications had no impact on the NAV of the Fund. The reclassifications are a result of permanent differences between GAAP and tax accounting for such items as net operating losses that reduce distribution requirements. Adjustments are made to reflect the impact these items have on current and future distributions to shareholders. Therefore, the source of the Fund’s distributions may be shown in the accompanying Statement of Changes in Net Assets as from net investment income, from net realized gains on investments or from capital depending on the type of book and tax differences that exist. As of October 31, 2008, the Fund recorded reclassifications to increase undistributed net investment income by $56, decrease accumulated net realized loss by $1,644, and increase paid in capital by $1,588.
d)	Capital Loss Carryforward - The Fund had no capital loss carryforwards for U.S. federal income tax purposes as of October 31, 2008.
e)	Financial Accounting Standards Board Interpretation No. 48 - On July 13, 2006, the FASB released FASB Interpretation No. 48 “Accounting for Uncertainty in Income Taxes” (“FIN 48”). FIN 48 provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. The Fund adopted FIN 48 for fiscal years beginning after December 15, 2006. Management has evaluated the implications of FIN 48 for all open tax years (tax years ended October 31, 2006 — 2008) and has determined there is no impact to the Fund’s financial statements.

15

The Hartford Inflation Plus Fund

Notes to Financial Statements — (continued)

April 30, 2009 (Unaudited)

(000’s Omitted)

5. Expenses:

a)

Investment Management Agreements — Hartford Investment Financial Services, LLC (“HIFSCO”) serves as investment manager to the Fund pursuant to an Investment Management Agreement with The Hartford Mutual Funds, Inc. As investment manager, HIFSCO has overall investment supervisory responsibility for the Fund. In addition, HIFSCO provides administrative personnel, services, equipment, facilities and office space for proper operation of the Fund. HIFSCO has contracted with Hartford Investment Management for the provision of day-to-day investment management services to the Fund in accordance with the Fund’s investment objective and policies. The Fund pays a fee to HIFSCO, a portion of which may be used to compensate Hartford Investment Management.

The schedule below reflects the rates of compensation paid to HIFSCO for investment management services rendered during the six-month period ended April 30, 2009; the rates are accrued daily and paid monthly:

Average Daily Net Assets	Annual Fee
On first $500 million		0.55	%
On next $4.5 billion		0.50	%
On next $5 billion		0.48	%
Over $10 billion		0.47	%

b) Accounting Services Agreement — Pursuant to the Fund Accounting Agreement between Hartford Life Insurance Company (“HLIC”) and the Fund, HLIC provides accounting services to the Fund and receives monthly compensation on the Fund’s average net assets. The Fund’s accounting service fees are accrued daily and paid monthly.

Average Daily Net Assets	Annual Fee
On first $5 billion		0.018	%
On next $5 billion		0.016	%
Over $10 billion		0.014	%

c) Operating Expenses — Allocable expenses incurred by the Company are allocated to each Fund and allocated to classes within the Fund in proportion to the average daily net assets of the Fund and each class, except where allocation of certain expenses is more fairly made directly to the Fund or to specific classes within a Fund. During the six-month period ended April 30, 2009, HIFSCO has contractually limited the total operating expenses of this Fund, exclusive of taxes, interest expense, brokerage commissions, certain distribution expenses and extraordinary expenses as follows:

Class A	Class B	Class C	Class I	Class R3	Class R4	Class R5	Class Y
0.85%	1.60%	1.60%	0.60%	1.25%	1.00%	0.76%	0.60%

d) Fees Paid Indirectly — The Fund’s custodian bank has agreed to reduce its fees when the Fund maintains cash on deposit in the non-interest-bearing custody account. For the six-month period ended April 30, 2009, this amount is included in the Statement of Operations.

16

The ratio of expenses to average net assets in the accompanying financial highlights excludes the reduction in expenses related to fees paid indirectly. Had the fees paid indirectly been included, the annualized expense ratio for the periods listed below would have been as follows:

	Annualized
	Six-Month
	Period			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended
	Ended April			October 31,			October 31,			October 31,			October 31,			October 31,
	30, 2009			2008			2007			2006			2005			2004
Class A Shares		0.85	%		0.85	%		0.85	%		0.95	%		0.95	%		1.00	%
Class B Shares		1.60			1.60			1.60			1.70			1.70			1.70
Class C Shares		1.60			1.60			1.60			1.70			1.70			1.70
Class I Shares		0.60			0.60			0.58			0.70	*
Class R3 Shares		1.25			1.25			1.24	†
Class R4 Shares		1.00			1.00			0.99	‡
Class R5 Shares		0.76			0.70			0.75	§
Class Y Shares		0.59			0.60			0.56			0.68			0.68			0.65	**

*	From August 31, 2006 (commencement of operations), through October 31, 2006
†	From December 22, 2006 (commencement of operations), through October 31, 2007
‡	From December 22, 2006 (commencement of operations), through October 31, 2007
§	From December 22, 2006 (commencement of operations), through October 31, 2007
**	From November 28, 2003 (commencement of operations), through October 31, 2004

e)	Distribution and Service Plan for Class A, B, C, R3 and R4 Shares — HIFSCO is the principal underwriter and distributor of the Fund. HIFSCO is engaged in distribution activities, which include marketing and distribution of shares through broker-dealers, financing distribution costs and maintaining financial books and records. For the six-month period ended April 30, 2009, HIFSCO received front-end load sales charges of $1,852 and contingent deferred sales charges of $261 from the Fund.
	The Fund has adopted Distribution and Service Plans in accordance with Rule 12b-1 of the Investment Company Act of 1940, as amended, to compensate the distributor (HIFSCO) for activities intended to result in the sale and distribution of Classes A, B, C, R3 and R4 shares and for providing services for shareholders. The Rule 12b-1 plan applicable to Class A shares of the Funds provides for payment of a Rule 12b-1 fee of up to 0.35% of average daily net assets; however, the Board of Directors has currently authorized 12b-1 payments of only up to 0.25%. Some or all of the fee may be used for shareholder servicing expenses with the remainder used for distribution expenses. Some or the entire Rule 12b-1 fee for Class B shares may be remitted to broker-dealers for distribution and/or shareholder account services. Under the Class B Plan, the Fund pays the distributor 1.00% of the average daily net assets of Class B shares that are outstanding for 8 years or less, 0.25% of which is a fee for services provided to existing shareholders with the remainder used for distribution expenses. After eight years, Class B shares convert to Class A shares. Upon conversion to Class A shares, the Class A plan described above will apply to those shares. Under the Class C Plan, the Fund pays the distributor 1.00% of the average daily net assets of Class C shares outstanding, 0.25% of which is intended as a fee for services provided to existing shareholders with the remainder used for distribution expenses. For Class C shares, some or the entire fee may be remitted to broker-dealers for distribution and/or shareholder account services. Class R3 shares have a distribution fee of 0.50% and Class R4 shares have a distribution fee of 0.25%. For Classes R3 and R4 shares, some or the entire fee may be remitted to broker dealers for distribution and/or shareholder account services. The Fund’s 12b-1 fees are accrued daily and paid monthly.
	For the six-month period ended April 30, 2009, total sales commissions paid to affiliated brokers/dealers of The Hartford for distributing the Fund’s shares were $38. These commissions are in turn paid to sales representatives of the broker/dealers.

17

The Hartford Inflation Plus Fund

Notes to Financial Statements — (continued)

April 30, 2009 (Unaudited)

(000’s Omitted)

f) Other Related Party Transactions — Certain officers of the Fund are directors and/or officers of HIFSCO and/or The Hartford or its subsidiaries. For the six-month period ended April 30, 2009, a portion of the Fund’s chief compliance officer’s salary was paid by the Fund in the amount of $2. Hartford Administrative Services Company (“HASCO”), an indirect wholly owned subsidiary of The Hartford, provides transfer agent services to the Fund. HASCO was compensated $441 for providing such services. These fees are accrued daily and paid monthly.

6.	Affiliate Holdings:
	As of April 30, 2009, affiliates of The Hartford had ownership of shares in the Fund as follows:

	Shares
Class R4		1
Class R5		1

7.	Investment Transactions:
	For the six-month period ended April 30, 2009, the Fund’s aggregate purchases and sales of investment securities (excluding short-term investments) were as follows:

	Amount
Cost of Purchases Excluding U.S. Government Obligations	$	935,196
Sales Proceeds Excluding U.S. Government Obligations		824,697

8.	Capital Share Transactions:
	The following information is for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	For the Six-Month Period Ended April 30, 2009												For the Year Ended October 31, 2008
			Shares					Shares							Shares					Shares
			Issued for					Issued		Net Increase					Issued for					Issued		Net Increase
	Shares		Reinvested		Shares			from		(Decrease) of			Shares		Reinvested		Shares			from		(Decrease) of
	Sold		Dividends		Redeemed			Merger		Shares			Sold		Dividends		Redeemed			Merger		Shares
Class A
Shares		19,211		117		(7,964	)		—		11,364			25,993		1,034		(12,853	)		—		14,174
Amount	$	202,066	$	1,181	$	(82,577	)	$	—	$	120,670		$	288,295	$	11,450	$	(140,715	)	$	—	$	159,030
Class B
Shares		1,440		21		(1,123	)		—		338			2,544		258		(1,479	)		—		1,323
Amount	$	15,018	$	211	$	(11,564	)	$	—	$	3,665		$	28,133	$	2,852	$	(16,122	)	$	—	$	14,863
Class C
Shares		8,408		59		(3,529	)		—		4,938			14,894		669		(5,776	)		—		9,787
Amount	$	88,013	$	597	$	(36,261	)	$	—	$	52,349		$	165,357	$	7,411	$	(62,854	)	$	—	$	109,914
Class I
Shares		2,585		12		(1,419	)		—		1,178			4,848		56		(2,466	)		—		2,438
Amount	$	27,177	$	121	$	(14,737	)	$	—	$	12,561		$	53,494	$	615	$	(26,032	)	$	—	$	28,077
Class R3
Shares		79		—		(2	)		—		77			38		1		(18	)		—		21
Amount	$	842	$	1	$	(25	)	$	—	$	818		$	424	$	6	$	(193	)	$	—	$	237
Class R4
Shares		120		—		(3	)		—		117			1		—		—			—		1
Amount	$	1,252	$	—	$	(30	)	$	—	$	1,222		$	7	$	1	$	—		$	—	$	8
Class R5
Shares		6		—		—			—		6			2		—		—			—		2
Amount	$	68	$	—	$	(4	)	$	—	$	64		$	18	$	1	$	—		$	—	$	19
Class Y
Shares		1,334		69		(2,462	)		—		(1,059	)		3,285		920		(5,452	)		—		(1,247	)
Amount	$	14,028	$	695	$	(25,475	)	$	—	$	(10,752	)	$	36,316	$	10,241	$	(59,839	)	$	—	$	(13,282	)

18

The following reflects the conversion of Class B Shares into Class A Shares (reflected as Class A Shares issued and Class B shares redeemed) for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	Shares		Dollars
For the Six-Month Period Ended April 30, 2009		50	$	530
For the Year Ended October 31, 2008		56	$	621

9.

Line of Credit:

The Fund is one of several Hartford Funds that participate in a $500 million committed revolving line of credit facility. The facility is to be used for temporary or emergency purposes. Under the arrangement, the Fund is required to own securities having a market value in excess of 300% of the total bank borrowings. The interest rate on borrowings varies depending on the nature of the loan. The facility also requires a fee to be paid based on the amount of the commitment. During the six-month period ended April 30, 2009, the Fund did not have any borrowings under this facility.

19

The Hartford Inflation Plus Fund

Financial Highlights (Unaudited)

	— Selected Per-Share Data — (a)																												— Ratios and Supplemental Data —
																																				Ratio of			Ratio of			Ratio of
																																				Expenses			Expenses			Expenses
																																				to Average			to Average			to Average
																																				Net Assets			Net Assets			Net Assets
									Net																											Before			After			After
									Realized																											Waivers			Waivers			Waivers
									and Un-																											and			and			and
									realized									Distrib-								Net										Reimburse-			Reimburse-			Reimburse-
				Net			Pay-		Gain						Dividends			utions								Increase			Net					Net		ments and			ments and			ments and			Ratio of Net			Port-
		Net Asset		Invest-			ments		(Loss)						from Net			from			Distri-					(Decrease)			Asset					Assets at		Including			Including			Excluding			Invest-ment			folio
		Value at		ment			from		on			Total from			Invest-			Realized			butions		Total			in Net			Value at					End of		Expenses			Expenses			Expenses			Income to			Turn-
		Beginning		Income			(to)		Invest-			Investment			ment			Capital			from		Distri-			Asset			End of		Total			Period		not Subject			not Subject			not Subject			Average Net			over
Class		of Period		(Loss)			Affiliate		ments			Operations			Income			Gains			Capital		butions			Value			Period		Return(b)			(000’s)		to Cap(c)			to Cap(c)			to Cap(c)			Assets			Rate(d)
For the Six-Month Period Ended April 30, 2009 (Unaudited) (e)
A		$	9.78	$	(0.21	)	$	—	$	1.15		$	0.94		$	(0.05	)	$	—		$	—	$	(0.05	)	$	0.89		$	10.67		9.61	%(f)	$	457,443		0.96	%(g)		0.85	%(g)		0.85	%(g)		(4.13	)%(g)		95	%
B			9.76		(0.28	)		—		1.19			0.91			(0.04	)		—			—		(0.04	)		0.87			10.63		9.30	(f)		86,139		1.75	(g)		1.60	(g)		1.60	(g)		(5.42	) (g)		—
C			9.75		(0.26	)		—		1.17			0.91			(0.04	)		—			—		(0.04	)		0.87			10.62		9.31	(f)		315,246		1.69	(g)		1.60	(g)		1.60	(g)		(5.18	) (g)		—
I			9.81		(0.20	)		—		1.16			0.96			(0.05	)		—			—		(0.05	)		0.91			10.72		9.83	(f)		42,282		0.70	(g)		0.60	(g)		0.60	(g)		(4.03	) (g)		—
R3			9.78		(0.06	)		—		0.98			0.92			(0.04	)		—			—		(0.04	)		0.88			10.66		9.44	(f)		1,059		1.42	(g)		1.25	(g)		1.25	(g)		(1.31	) (g)		—
R4			9.79		(0.01	)		—		0.95			0.94			(0.04	)		—			—		(0.04	)		0.90			10.69		9.68	(f)		1,269		1.01	(g)		1.00	(g)		1.00	(g)		(0.24	) (g)		—
R5			9.80		(0.11	)		—		1.06			0.95			(0.05	)		—			—		(0.05	)		0.90			10.70		9.72	(f)		96		0.81	(g)		0.76	(g)		0.76	(g)		(2.09	) (g)		—
Y			9.80		(0.24	)		—		1.20			0.96			(0.05	)		—			—		(0.05	)		0.91			10.71		9.84	(f)		139,764		0.59	(g)		0.59	(g)		0.59	(g)		(4.61	) (g)		—
For the Year Ended October 31, 2008
A			10.66		0.60			—		(0.87	)		(0.27	)		(0.61	)		—			—		(0.61	)		(0.88	)		9.78		(3.08	)		307,863		1.01			0.91			0.85			5.60			437
B			10.64		0.53			—		(0.88	)		(0.35	)		(0.53	)		—			—		(0.53	)		(0.88	)		9.76		(3.81	)		75,789		1.80			1.66			1.60			4.82			—
C			10.63		0.52			—		(0.87	)		(0.35	)		(0.53	)		—			—		(0.53	)		(0.88	)		9.75		(3.82	)		241,305		1.75			1.66			1.60			4.86			—
I			10.68		0.62			—		(0.85	)		(0.23	)		(0.64	)		—			—		(0.64	)		(0.87	)		9.81		(2.74	)		27,135		0.75			0.65			0.60			5.28			—
R3			10.67		0.53			—		(0.85	)		(0.32	)		(0.57	)		—			—		(0.57	)		(0.89	)		9.78		(3.56	)		216		1.43			1.30			1.25			5.63			—
R4			10.67		0.57			—		(0.86	)		(0.29	)		(0.59	)		—			—		(0.59	)		(0.88	)		9.79		(3.23	)		17		1.12			1.06			1.00			5.29			—
R5			10.68		0.58			—		(0.83	)		(0.25	)		(0.63	)		—			—		(0.63	)		(0.88	)		9.80		(2.94	)		28		0.75			0.75			0.70			4.92			—
Y			10.69		0.66			—		(0.91	)		(0.25	)		(0.64	)		—			—		(0.64	)		(0.89	)		9.80		(2.90	)		138,292		0.65			0.65			0.60			5.85			—
For the Year Ended October 31, 2007
A			10.44		0.39			—		0.21			0.60			(0.38	)		—			—		(0.38	)		0.22			10.66		5.86			184,558		1.22			1.03			0.85			3.09			608
B			10.45		0.29			—		0.23			0.52			(0.33	)		—			—		(0.33	)		0.19			10.64		5.05			68,593		2.01			1.78			1.60			2.51			—
C			10.44		0.29			—		0.23			0.52			(0.33	)		—			—		(0.33	)		0.19			10.63		5.05			159,067		1.97			1.78			1.60			2.31			—
I			10.44		0.31			—		0.32			0.63			(0.39	)		—			—		(0.39	)		0.24			10.68		6.22			3,501		0.71			0.61			0.58			2.85			—
R3(h)			10.41		0.39			—		0.22			0.61			(0.35	)		—			—		(0.35	)		0.26			10.67		5.98	(f)		10		1.59	(g)		1.40	(g)		1.23	(g)		4.36	(g)		—
R4(i)			10.41		0.41			—		0.22			0.63			(0.37	)		—			—		(0.37	)		0.26			10.67		6.15	(f)		10		1.28	(g)		1.15	(g)		0.99	(g)		4.61	(g)		—
R5(j)			10.41		0.43			—		0.22			0.65			(0.38	)		—			—		(0.38	)		0.27			10.68		6.42	(f)		11		0.99	(g)		0.89	(g)		0.72	(g)		4.86	(g)		—
Y			10.45		0.38			—		0.26			0.64			(0.40	)		—			—		(0.40	)		0.24			10.69		6.23			164,155		0.82			0.72			0.56			3.71			—
For the Year Ended October 31, 2006
A			10.67		0.49			—		(0.26	)		0.23			(0.43	)		(0.03	)		—		(0.46	)		(0.23	)		10.44		2.29			282,362		1.02			0.95			0.95			4.50			193
B			10.68		0.40			—		(0.25	)		0.15			(0.35	)		(0.03	)		—		(0.38	)		(0.23	)		10.45		1.51			92,340		1.82			1.70			1.70			3.76			—
C			10.67		0.40			—		(0.25	)		0.15			(0.35	)		(0.03	)		—		(0.38	)		(0.23	)		10.44		1.51			247,091		1.78			1.70			1.70			3.72			—
I(k)			10.48		0.05			—		(0.05	)		—			(0.04	)		—			—		(0.04	)		(0.04	)		10.44		0.04	(f)		18		0.98	(g)		0.70	(g)		0.70	(g)		4.43	(g)		—
Y			10.68		0.51			—		(0.25	)		0.26			(0.46	)		(0.03	)		—		(0.49	)		(0.23	)		10.45		2.58			140,796		0.68			0.68			0.68			5.05			—
For the Year Ended October 31, 2005
A			10.95		0.41			—		(0.18	)		0.23			(0.42	)		(0.09	)		—		(0.51	)		(0.28	)		10.67		2.10			414,778		1.00			0.95			0.95			3.88			71
B			10.96		0.33			—		(0.18	)		0.15			(0.34	)		(0.09	)		—		(0.43	)		(0.28	)		10.68		1.33			119,302		1.81			1.70			1.70			3.09			—
C			10.96		0.33			—		(0.19	)		0.14			(0.34	)		(0.09	)		—		(0.43	)		(0.29	)		10.67		1.24			373,750		1.76			1.70			1.70			3.12			—
Y			10.97		0.47			—		(0.22	)		0.25			(0.45	)		(0.09	)		—		(0.54	)		(0.29	)		10.68		2.29			95,947		0.68			0.68			0.68			4.42			—
For the Year Ended October 31, 2004
A			10.63		0.30			—		0.37			0.67			(0.31	)		(0.04	)		—		(0.35	)		0.32			10.95		6.39			313,961		1.04			1.00			1.00			3.04			81
B			10.64		0.22			—		0.37			0.59			(0.23	)		(0.04	)		—		(0.27	)		0.32			10.96		5.65			107,964		1.81			1.70			1.70			2.21			—
C			10.63		0.23			—		0.37			0.60			(0.23	)		(0.04	)		—		(0.27	)		0.33			10.96		5.74			319,990		1.76			1.70			1.70			2.33			—
Y(l)			10.57		0.28			—		0.44			0.72			(0.32	)		—			—		(0.32	)		0.40			10.97		6.89	(f)		23,045		0.65	(g)		0.65	(g)		0.65	(g)		1.55	(g)		—

(a)	Information presented relates to a share outstanding throughout the indicated period.
(b)	Assumes initial investment at net asset value at the beginning of each period, reinvestment of all distributions, the complete redemption of the investment at net asset value at the end of each period and no sales charge. Total return would be reduced if sales charges were taken into account.
(c)	Ratios do not include fees paid indirectly (See Expenses in the accompanying Notes to Financial Statements).
(d)	Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between the classes of shares issued.
(e)	Per share amounts have been calculated using average shares outstanding method.
(f)	Not annualized.
(g)	Annualized.
(h)	Commenced operations on December 22, 2006.
(i)	Commenced operations on December 22, 2006.
(j)	Commenced operations on December 22, 2006.
(k)	Commenced operations on August 31, 2006.
(l)	Commenced operations on November 28, 2003.

20

The Hartford Inflation Plus Fund

Directors and Officers (Unaudited)

The Board of Directors appoints officers who are responsible for the day-to-day operations of the Fund and who execute policies formulated by the Directors. Each director serves until his or her death, resignation, or retirement or until the next annual meeting of shareholders is held or until his or her successor is elected and qualifies.

Directors and officers who are employed by or who have a financial interest in The Hartford are considered “interested” persons of the Fund pursuant to the Investment Company Act of 1940, as amended. Each officer and three of the Fund’s directors, as noted in the chart below, are “interested” persons of the Fund. Each director serves as a director for The Hartford Mutual Funds, Inc., The Hartford Mutual Funds II, Inc., The Hartford Income Shares Fund, Inc., Hartford Series Fund, Inc., and Hartford HLS Series Fund II, Inc., which collectively consist of 100 funds. Correspondence may be sent to directors and officers c/o Hartford Mutual Funds, P.O. Box 2999, Hartford, Connecticut 06104-2999, except that correspondence to Ms. Fagely may be sent to 500 Bielenberg Drive, Woodbury, Minnesota 55125.

The table below sets forth, for each director and officer, his or her name, year of birth, current position with the Fund and date first elected or appointed to The Hartford Mutual Funds, Inc. (“MF”) and The Hartford Mutual Funds II, Inc. (“MF2”), principal occupation, and, for directors, other directorships held. The Fund’s statement of additional information contains further information on the directors and is available free of charge by calling 1-888-843-7824 or writing to Hartford Mutual Funds, P.O. Box 64387, St. Paul, MN 55164-0387.

Information on the aggregate remuneration paid to the directors of the Fund can be found in the Statement of Operations herein. The Fund pays a portion of the Chief Compliance Officer’s compensation, but does not pay salaries or compensation to any of its officers or directors who are employed by The Hartford.

Non-Interested Directors

Lynn S. Birdsong (1946) Director since 2003, Co-Chairman of the Investment Committee

Mr. Birdsong is a private investor. Since 1981, Mr. Birdsong has been a partner in Birdsong Company, an advertising specialty firm. Since 2003, Mr. Birdsong has been an independent director of The Japan Fund. From 2003 to March 2005, Mr. Birdsong was an independent director of the Atlantic Whitehall Funds. From 1979 to 2002, Mr. Birdsong was a managing director of Zurich Scudder Investments, an investment management firm. During his employment with Scudder, Mr. Birdsong was an interested director of The Japan Fund.

Robert M. Gavin, Jr. (1940) Director since 2002 (MF) and 1986 (MF2), Chairman of the Board since 2004

Dr. Gavin is an educational consultant. Prior to September 1, 2001, he was President of Cranbrook Education Community and prior to July 1996, he was President of Macalester College, St. Paul, Minnesota.

Duane E. Hill (1945) Director since 2001 (MF) and 2002 (MF2), Chairman of the Nominating Committee

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

Sandra S. Jaffee (1941) Director since 2005

Ms. Jaffee is Chairman and Chief Executive Officer of Fortent (formerly Searchspace Group), a leading provider of compliance/regulatory technology to financial institutions. Ms. Jaffee served as an Entrepreneur in Residence with Warburg Pincus, a private equity firm, from August 2004 to August 2005. From September 1995 to July 2004, Ms. Jaffee served as Executive Vice President at Citigroup, where she was President and Chief Executive Officer of Citibank’s Global Securities Services (1995-2003).

William P. Johnston (1944) Director since 2005, Chairman of the Compliance Committee

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

21

The Hartford Inflation Plus Fund

Directors and Officers (Unaudited)

Phillip O. Peterson (1944) Director since 2002 (MF) and 2000 (MF2), Chairman of the Audit Committee

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

Lemma W. Senbet (1946) Director since 2005

Dr. Senbet is the William E. Mayer Chair Professor of Finance at the University of Maryland, Robert H. Smith School of Business. He was chair of the Finance Department during 1998-2006. Previously he was an endowed professor of finance at the University of Wisconsin-Madison. Also, he was director of the Fortis Funds from March 2000-July 2002. Dr. Senbet served the finance profession in various capacities, including as director of the American Finance Association and President of the Western Finance Association. In 2006, Dr. Senbet was inducted Fellow of Financial Management Association International for his career-long distinguished scholarship and professional service.

Interested Directors and Officers

Thomas M. Marra* (1958) Director since 2002

Mr. Marra has served as President and Chief Operating Officer of The Hartford Financial Services Group, Inc. (“The Hartford”) since 2007. Mr. Marra currently serves as Director of Hartford Life, Inc. (“HL, Inc.”). Mr. Marra served as Chief Operating Officer of Hartford Life Insurance Company, Inc. (“Hartford Life”) (2000-2008), as President of Hartford Life (2002-2008) and as Director of Hartford Life’s Investment Products Division from 1998 to 2000.

* On February 24, 2009, The Hartford and Mr. Marra determined to enter into a mutually agreed separation whereby Mr. Marra will retire, and his role as an executive officer and employee of The Hartford will terminate, effective July 3, 2009. Mr. Marra will resign his position as a Director of the Fund effective June 25, 2009.

Lowndes A. Smith (1939) Director since 2002, Co-Chairman of the Investment Committee

Mr. Smith served as Vice Chairman of The Hartford from February 1997 to January 2002, as President and Chief Executive Officer of Hartford Life, Inc. from February 1997 to January 2002, and as President and Chief Operating Officer of The Hartford Life Insurance Companies from January 1989 to January 2002. Mr. Smith serves as a Director of White Mountains Insurance Group, Ltd., One Beacon Insurance, Symetra Financial and as a Managing Director of Whittington Gray Associates.

John C. Walters* (1962) Director since 2008

Mr. Walters currently serves as Chief Executive Officer, President and Director of HL, Inc. Mr. Walters previously served as President of the U.S. Wealth Management Division of Hartford Life, Inc., as Co-Chief Operating Officer of Hartford Life Insurance Company (2007-2008) and as Executive Vice President and Director of its Investment Products Division (2000-2008). Mr. Walters also serves as Chairman of the Board, Chief Executive Officer, President and Director of Hartford Life Insurance Company and as Executive Vice President of The Hartford. In addition, Mr. Walters is Manager of HL Investment Advisors, LLC (“HL Advisors”).

* Mr. Walters previously served as President and Chief Executive Officer of the Fund (2007 — 2009).

Other Officers

Robert M. Arena, Jr. (1968) President and Chief Executive Officer since 2009 (served as Vice President of the Fund (2006 — 2009))

Mr. Arena serves as Executive Vice President of Hartford Life Insurance Company, (“Hartford Life”). Additionally, Mr. Arena is Director and Senior Vice President of Hartford Administrative Services Company, (“HASCO”), Manager, Chief Executive Officer and President of Hartford Investment Financial Services, LLC (“HIFSCO”) and HL Advisors. Prior to joining The Hartford in 2004, he was Senior Vice President in charge of Product Management for American Skandia/Prudential in the individual annuities division. Mr. Arena joined American Skandia in 1996.

Tamara L. Fagely (1958) Vice President, Treasurer and Controller since 2002 (MF) 1993 (MF2)

Ms. Fagely has been a Vice President of HASCO since 1998 and Chief Financial Officer since 2006. Currently Ms. Fagely is a Vice President of Hartford Life. She served as Assistant Vice President of Hartford Life from December 2001 through March 2005. In addition, Ms. Fagely is Controller and Chief Financial Officer of HIFSCO.

Brian Ferrell (1962) AML Compliance Officer since 2008

Mr. Ferrell has served as Assistant Vice President and AML Compliance Officer for The Hartford since 2006 and as AML Compliance Officer for HASCO and Hartford Investor Services Company, LLC (“HISC”) since 2008. Prior to joining The Hartford in 2006, Mr. Ferrell held various positions at the U.S. Department of the Treasury, (the “Treasury”), from 2001 to 2006 where he served as Chief Counsel for the Treasury’s Financial Crimes Enforcement Network, (“FinCEN”) from 2005 — 2006.

22

Thomas D. Jones, III (1965) Vice President and Chief Compliance Officer since 2006

Mr. Jones serves as Chief Compliance Officer for the Hartford Mutual Funds and Vice President and Director of Securities Compliance for The Hartford. He is also Vice President of HIFSCO, HL Advisors, and Hartford Life Insurance Company. Mr. Jones joined The Hartford in 2006 from SEI Investments, where he served as Chief Compliance Officer for its mutual funds and investment advisers. Prior to joining SEI, Mr. Jones was First Vice President and Compliance Director for Merrill Lynch Investment Managers (Americas) (“MLIM”), where he worked from 1992-2004. At MLIM, Mr. Jones was responsible for the compliance oversight of various investment products, including mutual funds, wrap accounts, institutional accounts and alternative investments.

Edward P. Macdonald (1967) Vice President, Secretary and Chief Legal Officer since 2005

Mr. Macdonald serves as Assistant General Counsel and Assistant Vice President of The Hartford and Chief Legal Officer and Vice President of HIFSCO. He also serves as Vice President and Secretary of HASCO, Assistant Vice President of Hartford Life, and Chief Legal Officer, Secretary and Vice President of HL Advisors. Prior to joining The Hartford in 2005, Mr. Macdonald was Chief Counsel, Investment Management for Prudential Financial (formerly American Skandia Investment Services, Inc.). He joined Prudential in April 1999.

Vernon J. Meyer (1964) Vice President since 2006

Mr. Meyer serves as Senior Vice President of Hartford Life and as Director of its Investment Advisory Group in the Individual Markets Group segment. He also serves as Senior Vice President of HIFSCO and HL Advisors. Prior to joining The Hartford in 2004, Mr. Meyer was with MassMutual which he joined in 1987.

D. Keith Sloane (1960) Vice President since 2009

Mr. Sloane is a Senior Vice President of Hartford Life where he serves as Director of mutual fund product management for The Hartford’s mutual funds and 529 college savings businesses. Additionally, Mr. Sloane currently serves as Senior Vice President of HIFSCO, HL Advisors, and HASCO. Prior to joining The Hartford in 2007, Mr. Sloane was Director of product marketing and led the mutual fund business for Wachovia Securities (“Wachovia”) in their investment products group. Mr. Sloane joined Wachovia in 1995.

Jane Wolak (1961) Vice President since 2009

Ms. Wolak currently serves as Vice President of Hartford Life. Ms. Wolak joined Hartford Life as Vice President, Retail Product Services in May 2007. She is also Vice President of HASCO. Previously, Ms. Wolak was with Sun Life Financial where she held the position of Vice President, Service Center Operations from 2001 — 2007.

HOW TO OBTAIN A COPY OF THE FUND’S PROXY VOTING POLICIES AND VOTING RECORDS

A description of the policies and procedures that the Fund uses to determine how to vote proxies relating to portfolio securities and a record of how the Fund voted any proxies for the twelve-month period ended June 30, 2008 is available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov.

QUARTERLY PORTFOLIO HOLDINGS INFORMATION

The Fund files a complete schedule of portfolio holdings with the Commission for the first and third quarters of each fiscal year on Form N-Q. The Fund’s Forms are available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov. The Form N-Q may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330.

23

The Hartford Inflation Plus Fund

Expense Example (Unaudited)

Your Fund’s Expenses

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments and contingent deferred sales charges (CDSC) (2) ongoing costs including management fees; distribution fees; and other fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the period of October 31, 2008 through April 30, 2009.

Actual Expenses

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

Hypothetical Example for Comparison Purposes

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

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads) and CDSC. Therefore, the second line 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 are equal to the Fund’s annualized expense ratios multiplied by average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

	Actual return						Hypothetical (5% return before expenses)
					Expenses paid						Expenses paid					Days in
					during the period						during the period					the		Days
	Beginning		Ending Account		October 31, 2008		Beginning		Ending Account		October 31,		Annualized			current		in the
	Account Value		Value		through		Account Value		Value		2008 through		expense			1/2		full
	October 31, 2008		April 30, 2009		April 30, 2009		October 31, 2008		April 30, 2009		April 30, 2009		ratio			year		year
Class A	$	1,000.00	$	1,096.13	$	4.41	$	1,000.00	$	1,020.57	$	4.25		0.85	%		181		365
Class B	$	1,000.00	$	1,092.95	$	8.30	$	1,000.00	$	1,016.86	$	8.00		1.60			181		365
Class C	$	1,000.00	$	1,093.05	$	8.30	$	1,000.00	$	1,016.86	$	8.00		1.60			181		365
Class I	$	1,000.00	$	1,098.33	$	3.12	$	1,000.00	$	1,021.81	$	3.00		0.60			181		365
Class R3	$	1,000.00	$	1,094.39	$	6.49	$	1,000.00	$	1,018.60	$	6.26		1.25			181		365
Class R4	$	1,000.00	$	1,096.77	$	5.19	$	1,000.00	$	1,019.83	$	5.00		1.00			181		365
Class R5	$	1,000.00	$	1,097.18	$	3.95	$	1,000.00	$	1,021.02	$	3.80		0.76			181		365
Class Y	$	1,000.00	$	1,098.39	$	3.06	$	1,000.00	$	1,021.86	$	2.95		0.59			181		365

24

The Hartford International Growth Fund

Table of Contents

Manager Discussions (Unaudited)	2
Financial Statements
Schedule of Investments at April 30, 2009 (Unaudited)	4
Statement of Assets and Liabilities at April 30, 2009 (Unaudited)	7
Statement of Operations for the Six Month Period Ended April 30, 2009 (Unaudited)	8
Statement of Changes in Net Assets for the Six Month Period Ended April 30, 2009 (Unaudited) and the Year Ended October 31, 2008	9
Notes to Financial Statements (Unaudited)	10
Financial Highlights (Unaudited)	20
Directors and Officers (Unaudited)	21
How to Obtain a Copy of the Fund’s Proxy Voting Policies and Proxy Voting Records (Unaudited)	23
Quarterly Portfolio Holdings Information (Unaudited)	23
Expense Example (Unaudited)	24

The Hartford International Growth Fund
(subadvised by Wellington Management Company, LLP)

Performance Overview(1) 4/30/01 — 4/30/09
Growth of a $10,000 investment in Class A which includes Sales Charge

MSCI EAFE Growth Index is a free float-adjusted market capitalization index that is designed to measure developed market equity performance (excluding the U.S. and Canada) of the growth securities within the MSCI EAFE Index.

You cannot invest directly in an index.

The value of shares will fluctuate so that, when redeemed, shares may be worth more or less than their original cost. The chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.

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

Investment objective — Seeks capital appreciation.

Average Annual Total Returns(2,3,4) (as of 4/30/09)

			��
	Inception		1			5			Since
	Date		Year			Year			Inception
International Growth A#		4/30/01		-52.61	%		-5.16	%		-2.23	%
International Growth A##		4/30/01		-55.21	%		-6.22	%		-2.92	%
International Growth B#		4/30/01		-52.84	%		-5.83	%		-2.92	%
International Growth B##		4/30/01		-55.20	%		-6.12	%		-2.92	%
International Growth C#		4/30/01		-52.99	%		-5.88	%		-2.94	%
International Growth C##		4/30/01		-53.46	%		-5.88	%		-2.94	%
International Growth I#		4/30/01		-52.38	%		-4.96	%		-2.10	%
International Growth R3#		4/30/01		-52.82	%		-5.12	%		-2.04	%
International Growth R4#		4/30/01		-52.61	%		-4.95	%		-1.93	%
International Growth R5#		4/30/01		-52.50	%		-4.82	%		-1.84	%
International Growth Y#		4/30/01		-52.41	%		-4.74	%		-1.80	%

#	Without sales charge
##	With sales charge

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)	Growth of a $10,000 investment in Classes B, C, I, R3, R4, R5 and Y shares will vary from results seen above due to differences in the expenses charged to these share classes.
(2)	Class I shares commenced operations on 8/31/06. Performance prior to 8/31/06 reflects Class A performance. Class R3, R4 and R5 shares commenced operations on 12/22/06. Performance prior to 12/22/06 reflects Class A performance.
(3)	The initial investment in Class A shares reflects the maximum sales charge and Classes B and C reflect CDSC.
(4)	Total returns presented above were calculated using the Fund’s net asset value available to shareholders for sale or redemption of Fund shares on April 30, 2009, which excludes investment transactions as of this date.

Portfolio Managers
Andrew S. Offit, CPA	Jean-Marc Berteaux	Matthew D. Hudson, CFA
Senior Vice President, Partner	Senior Vice President, Partner	Vice President

How did the Fund perform?

The Class A shares of The Hartford International Growth Fund returned -8.77%, before sales charge, for the six-month period ended April 30, 2009, underperforming its benchmark, the MSCI EAFE Growth Index, which returned -4.96% for the same period. The Fund also underperformed the 0.65% return of the average fund in the Lipper International Multi-Cap Growth 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 declined during the first part of the period amid increasing signs of a deeper and more protracted recession and then rebounded in March and April as governments around the world increased their involvement to help mitigate the financial crisis. Growth stocks (-5.0%) trailed Value stocks (0.3%), as measured by the MSCI EAFE Growth and the MSCI EAFE Value indices, respectively. Within the MSCI EAFE Growth Index, seven out of ten sectors declined during the period. Utilities (-15%), Health Care (-13%), and Energy (-12%) fell the most during the period, while Materials (11%), Telecommunication Services (6%), and Industrials (3%) were the only sectors that posted positive returns.

The Fund’s underperformance relative (i.e. performance of the Fund as measured against the benchmark) to the MSCI EAFE Growth Index was a result of weak security selection. Stock selection detracted from results in eight of ten sectors, and was weakest in Financials, Materials, and Telecommunications Services. Stock selection in Health Care and Information Technology was positive. Sector positioning, a residual of bottom-up (i.e. stock by stock fundamental research) stock selection, contributed positively to

2

benchmark-relative results during the period primarily due to the Fund’s overweight exposure (i.e. the Fund’s sector position was greater than the benchmark position) to Telecommunication Services and underweight (i.e. the Fund’s sector position was less than the benchmark position) exposures to Utilities and Financials. The Fund also benefited from a moderate cash position, which helped relative performance in a downward-trending market.

UBS (Financials), 3i Group (Financials), and Vimpel- Communications (Telecommunication Services) were the leading detractors from benchmark-relative performance during the period. Not holding Materials company BHP Billiton, a benchmark component whose share price rose during the period, also detracted from relative performance. Shares of Switzerland-based financial services provider UBS moved lower after the firm posted a larger-than-expected quarterly loss. British private equity firm 3i Group underperformed amid asset writedowns and concerns about its debt level. Shares of Russian wireless operator Vimpel-Communications fell amid significant economic uncertainty in Russia and weakness in the ruble relative to the U.S. dollar. Other detractors from the Fund’s absolute (i.e. total return) performance were German-based insurer Allianz (Financials) and Swiss financial services company Julius Baer (Financials).

Top contributors to the Fund’s relative performance were Autonomy Group (Information Technology), Barrick Gold (Materials), and Novartis (Health Care). Not holding Volkswagen (Consumer Discretionary) also contributed positively to relative performance. Leading British software company Autonomy announced better-than-expected earnings, reflecting strong demand for its services and driving shares higher. Shares of mining company Barrick Gold rose based on strong revenue growth during the period. Swiss pharmaceuticals company Novartis contributed to performance due to its solid growth in the pharmaceutical and vaccine businesses. Standard Chartered (Financials), Baidu (Information Technology), and Samsung Electronics (Information Technology) all contributed positively to the Fund’s absolute performance.

What is the outlook?

We believe that government action is, in small increments, helping to reduce the probability of a worst-case outcome for the economy. Against this backdrop, we continue to seek globally competive growth companies within growing sectors.

Portfolio construction is a bottom-up process based on intensive company research. We select stocks individually based on their merits. During the period we increased our exposure to Information Technology and Consumer Discretionary and decreased our exposure to traditionally defensive Health Care and Consumer Staples, as we are beginning to see signs of an improving economy. As a result, Information Technology was the Fund’s largest absolute weight and largest overweight exposure relative to the benchmark at the end of the period. Other sectors where we ended the period with above benchmark weights included Consumer Discretionary and Telecommunication Services. The Fund held less-than-benchmark weights in the Utilities, Consumer Staples, and Industrials sectors.

Diversification by Industry
as of April 30, 2009

	Percentage of
Industry	Net Assets
Automobiles & Components		3.1	%
Banks		5.7
Capital Goods		7.9
Commercial & Professional Services		1.3
Consumer Durables & Apparel		2.3
Diversified Financials		4.3
Energy		8.7
Food & Staples Retailing		6.0
Food, Beverage & Tobacco		6.4
Health Care Equipment & Services		1.8
Insurance		1.2
Materials		10.0
Pharmaceuticals, Biotechnology & Life Sciences		9.5
Retailing		7.1
Semiconductors & Semiconductor Equipment		6.5
Software & Services		1.7
Technology Hardware & Equipment		5.4
Telecommunication Services		6.4
Transportation		1.6
Utilities		1.0
Short-Term Investments		1.6
Other Assets and Liabilities		0.5
Total		100.0	%

Diversification by Country
as of April 30, 2009

	Percentage of
Country	Net Assets
Australia		1.3	%
Belgium		1.2
Brazil		1.6
Canada		5.5
China		1.2
Denmark		0.7
Finland		1.7
France		9.1
Germany		8.7
Hong Kong		2.1
Israel		1.9
Japan		9.9
Luxembourg		1.4
Netherlands		8.1
Russia		2.4
South Korea		1.8
Spain		1.9
Sweden		1.9
Switzerland		9.7
Taiwan		1.0
United Kingdom		24.8
Short-Term Investments		1.6
Other Assets and Liabilities		0.5
Total		100.0	%

3

The Hartford International Growth Fund

Schedule of Investments
April 30, 2009 (Unaudited)
(000’s Omitted)

Shares or Principal Amount			Market Value ╪
COMMON STOCKS — 97.9%
		Australia — 1.3%
	144	CSL Ltd.	$	3,580
		Belgium — 1.2%
	1,419	Hansen Transmissions •		3,090
		Brazil — 1.6%
	148	Companhia Vale do Rio Doce ADR		2,445
	55	Petroleo Brasileiro S.A. ADR		1,853
				4,298
		Canada — 5.5%
	66	Canadian Natural Resources Ltd.		3,056
	55	EnCana Corp.		2,530
	60	Potash Corp. of Saskatchewan, Inc.		5,207
	61	Research In Motion Ltd. •		4,233
				15,026
		China — 1.2%
	517	China Life Insurance Co., Ltd.		1,816
	85	Suntech Power Holdings Co., Ltd. ADR •		1,275
				3,091
		Denmark — 0.7%
	28	Vestas Wind Systems A/S •		1,809
		Finland — 1.7%
	324	Nokia Oyj		4,595
		France — 9.1%
	44	Alstom RGPT		2,728
	55	BNP Paribas		2,896
	116	Sanofi-Aventis S.A.		6,729
	88	Technip S.A.		3,772
	78	Total S.A.		3,903
	43	Vallourec		4,710
				24,738
		Germany — 8.7%
	120	Daimler AG		4,310
	53	K+S AG		3,188
	28	Merck KGaA		2,508
	110	Metro AG		4,696
	10	Muenchener Rueckversicherungs NPV		1,362
	76	Siemens AG		5,079
	90	Solarworld AG		2,559
				23,702
		Hong Kong — 2.1%
	320	Esprit Holdings Ltd.		1,957
	1,396	Li & Fung Ltd.		3,922
				5,879
		Israel — 1.9%
	118	Teva Pharmaceutical Industries Ltd. ADR		5,162
		Japan — 9.9%
	68	Denso Corp.		1,600
	85	Honda Motor Co., Ltd. *		2,503
	698	Mitsubishi UFJ Financial Group, Inc. *		3,806
	372	Nippon Electric Glass Co., Ltd.		3,027
	219	Panasonic Corp.		3,204
	7	Rakuten, Inc.		3,577
	45	Shin-Etsu Chemical Co., Ltd.		2,192
	96	Softbank Corp.		1,514
	121	Sony Corp.		3,141
	63	Tokyo Electron Ltd.		2,894
				27,458
		Luxembourg — 1.4%
	155	ArcelorMittal ADR		3,650
		Netherlands — 8.1%
	203	ASML Holding N.V.		4,259
	583	Koninklijke (Royal) KPN N.V.		7,010
	623	Koninklijke Ahold N.V.		6,828
	230	Qiagen N.V. •		3,787
				21,884
		Russia — 2.4%
	235	OAO Gazprom Class S ADR		4,196
	280	Vimpel-Communications ADR ‡		2,636
				6,832
		South Korea — 1.8%
	10	Samsung Electronics Co., Ltd.		4,767
		Spain — 1.9%
	61	Industria de Diseno Textil S.A.		2,581
	69	Red Electrica Corporacion S.A.		2,882
				5,463
		Sweden — 1.9%
	182	Swedish Match Ab		2,591
	337	Telefonaktiebolaget LM Ericsson		2,863
				5,454
		Switzerland — 9.7%
	123	Credit Suisse Group AG		4,824
	30	Julius Baer Holding Ltd.		997
	195	Nestle S.A.		6,362
	168	Nobel Biocare Holding AG		3,425
	33	Roche Holding AG		4,216
	24	Sonova Holding AG		1,568
	381	UBS AG •		5,233
				26,625
		Taiwan — 1.0%
	246	Taiwan Semiconductor Manufacturing Co., Ltd. ADR ‡		2,596
		United Kingdom — 24.8%
	123	3I Group plc		578
	1,768	Arm Holdings plc		3,104
	216	Autonomy Corp. plc •		4,537
	719	Barclays Bank plc		2,920
	283	BG Group plc		4,512
	67	BHP Billiton plc		1,391
	138	British American Tobacco plc		3,324
	968	easyJet plc •		4,499
	235	Imperial Tobacco Group plc		5,353
	495	J. Sainsbury plc		2,399
	1,886	Kingfisher plc		5,135
	877	Michael Page International plc		3,559
	103	Next plc		2,473
	143	Rio Tinto plc		5,799
	379	Standard Chartered plc		5,866
	3,530	Vodafone Group plc		6,488
	659	Wm Morrison Supermarkets		2,387

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

4

Shares or Principal Amount					Market Value ╪
COMMON STOCKS — 97.9% — (continued)
		United Kingdom — 24.8% — (continued)
	368	Xstrata plc			$	3,243
						67,567
		Total common stocks (cost $253,511)			$	267,266
		Total long-term investments (cost $253,511)			$	267,266
SHORT-TERM INVESTMENTS — 1.6%
		Repurchase Agreements — 1.6%
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $1,035, collateralized by GNMA 4.50% — 6.50%, 2038 — 2039, value of $1,056)
$	1,035	0.18%, 04/30/2009			$	1,035
		BNP Paribas Securities Corp. TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $1,239, collateralized by FHLMC 4.50% — 6.50%, 2035 — 2039, FNMA 4.50% — 6.50%, 2034 — 2047, value of $1,264)
	1,239	0.17%, 04/30/2009				1,239
		Deutsche Bank Securities TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $1,731, collateralized by FHLMC 4.00% — 7.00%, 2021 — 2039, FNMA 6.00% — 7.00%, 2034 — 2038, GNMA 4.50% — 7.00%, 2024 — 2039, value of $1,766)
	1,731	0.17%, 04/30/2009				1,731
		UBS Securities, Inc. Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $6, collateralized by U.S. Treasury Bond 7.50%, 2024, value of $6)
	6	0.14%, 04/30/2009				6
		UBS Securities, Inc. TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $374, collateralized by FHLMC 8.00% — 15.00%, 2009 — 2021, FNMA 3.50% — 15.50%, 2012 — 2039, value of $381)
	374	0.16%, 04/30/2009				374
						4,385
		Total short-term investments (cost $4,385)			$	4,385
		Total investments (cost $257,896) ▲	99.5	%	$	271,651
		Other assets and liabilities	0.5	%		1,230
		Total net assets	100.0	%	$	272,881

Note:	Percentage of investments as shown is the ratio of the total market value to total net assets. Market value of investments in foreign securities represents 96.40% of total net assets at April 30, 2009.
	Foreign securities that are principally traded on certain foreign markets are adjusted daily pursuant to a third party pricing service methodology approved by the Board of Directors in order to reflect an adjustment for factors occurring after the close of the foreign market but before the close of the New York Stock Exchange.
▲	At April 30, 2009, the cost of securities for federal income tax purposes was $320,895 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	25,110
Unrealized Depreciation		(74,354	)
Net Unrealized Depreciation	$	(49,244	)

•	Currently non-income producing.
‡	This security, or a portion of this security, has been segregated to cover funding requirements on investment transactions settling in the future.
*	The cost of securities purchased on a when-issued or delayed delivery basis at April 30, 2009 was $3,728.

Forward Foreign Currency Contracts Outstanding at April 30, 2009

							Unrealized
	Market		Contract		Delivery		Appreciation/
Description	Value ╪		Amount		Date		(Depreciation)
British Pound (Sell)	$	391	$	392		05/01/09	$	1
British Pound (Buy)		3,175		3,142		05/01/09		33
British Pound (Buy)		1,644		1,644		05/05/09		—
Canadian Dollar (Sell)		1,066		1,065		05/01/09		(1	)
Danish Krone (Buy)		147		148		05/04/09		(1	)
Euro (Sell)		3,218		3,225		05/04/09		7
Euro (Buy)		862		868		05/04/09		(6	)
Euro (Sell)		589		583		05/04/09		(6	)
Euro (Sell)		652		657		05/05/09		5
Euro (Buy)		1,984		1,988		05/05/09		(4	)
Hong Kong Dollar (Sell)		1,039		1,039		05/04/09		—
Hong Kong Dollar (Buy)		797		797		05/05/09		—
Japanese Yen (Sell)		848		852		05/01/09		4
Japanese Yen (Buy)		1,320		1,346		05/01/09		(26	)
Japanese Yen (Buy)		1,304		1,335		05/07/09		(31	)
Japanese Yen (Buy)		2,424		2,437		05/08/09		(13	)
Swedish Krona (Sell)		921		919		05/06/09		(2	)
Swiss Franc (Sell)		814		814		05/04/09		—
Swiss Franc (Sell)		2,244		2,236		05/04/09		(8	)
Swiss Franc (Sell)		291		293		05/05/09		2
							$	(46	)

╪   See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of securities.

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

5

The Hartford International Growth Fund

Schedule of Investments — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

Diversification by Industry
as of April 30, 2009

	Percentage of
Industry	Net Assets
Automobiles & Components		3.1	%
Banks		5.7
Capital Goods		7.9
Commercial & Professional Services		1.3
Consumer Durables & Apparel		2.3
Diversified Financials		4.3
Energy		8.7
Food & Staples Retailing		6.0
Food, Beverage & Tobacco		6.4
Health Care Equipment & Services		1.8
Insurance		1.2
Materials		10.0
Pharmaceuticals, Biotechnology & Life Sciences		9.5
Retailing		7.1
Semiconductors & Semiconductor Equipment		6.5
Software & Services		1.7
Technology Hardware & Equipment		5.4
Telecommunication Services		6.4
Transportation		1.6
Utilities		1.0
Short-Term Investments		1.6
Other Assets and Liabilities		0.5
Total		100.0	%

FAS 157 Disclosure of Investment Valuation Hierarchy Levels

Assets:
Investment in securities — Level 1	$	50,391
Investment in securities — Level 2		221,260
Total	$	271,651
Other financial instruments — Level 2 *		52
Total	$	52
Liabilities:
Other financial instruments — Level 2 *		98
Total	$	98

* Other financial instruments are derivative instruments not reflected in the Schedule of Investments, such as futures, forwards and swap contracts, which are valued at the unrealized appreciation/depreciation on the investment.

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

6

The Hartford International Growth Fund

Statement of Assets and Liabilities
April 30, 2009 (Unaudited)

(000’s Omitted)

Assets:
Investments in securities, at fair value (cost $257,896)	$	271,651
Cash		2,134
Foreign currency on deposit with custodian (cost $2)		2
Unrealized appreciation on forward foreign currency contracts		52
Receivables:
Investment securities sold		14,660
Fund shares sold		614
Dividends and interest		1,543
Other assets		257
Total assets		290,913
Liabilities:
Unrealized depreciation on forward foreign currency contracts		98
Payables:
Investment securities purchased		17,146
Fund shares redeemed		524
Investment management fees		40
Distribution fees		12
Accrued expenses		212
Total liabilities		18,032
Net assets	$	272,881
Summary of Net Assets:
Capital stock and paid-in-capital		627,905
Accumulated undistributed net investment income		2,164
Accumulated net realized loss on investments and foreign currency transactions		(370,936	)
Unrealized appreciation of investments and the translation of assets and liabilities denominated in foreign currency		13,748
Net assets	$	272,881
Shares authorized		500,000
Par value	$	0.001
Class A: Net asset value per share/Maximum offering price per share	$	6.45/$6.82
Shares outstanding		22,872
Net assets	$	147,460
Class B: Net asset value per share	$	6.06
Shares outstanding		2,603
Net assets	$	15,769
Class C: Net asset value per share	$	6.05
Shares outstanding		3,015
Net assets	$	18,243
Class I: Net asset value per share	$	6.40
Shares outstanding		12,867
Net assets	$	82,355
Class R3: Net asset value per share	$	6.53
Shares outstanding		36
Net assets	$	236
Class R4: Net asset value per share	$	6.57
Shares outstanding		31
Net assets	$	202
Class R5: Net asset value per share	$	6.61
Shares outstanding		1
Net assets	$	6
Class Y: Net asset value per share	$	6.63
Shares outstanding		1,298
Net assets	$	8,610

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

7

The Hartford International Growth Fund

Statement of Operations
For the Six Month Period Ended April 30, 2009 (Unaudited)

(000’s Omitted)

Investment Income:
Dividends	$	4,447
Interest		11
Securities lending		13
Less: Foreign tax withheld		(551	)
Total investment income		3,920
Expenses:
Investment management fees		1,247
Transfer agent fees		830
Distribution fees
Class A		185
Class B		79
Class C		97
Class R3		1
Class R4		—
Custodian fees		33
Accounting services		25
Registration and filing fees		55
Board of Directors’ fees		4
Audit fees		9
Other expenses		90
Total expenses (before waivers and fees paid indirectly)		2,655
Expense waivers		(439	)
Transfer agent fee waivers		(437	)
Commission recapture		(16	)
Custodian fee offset		—
Total waivers and fees paid indirectly		(892	)
Total expenses, net		1,763
Net investment income		2,157
Net Realized Loss on Investments and Foreign Currency Transactions:
Net realized loss on investments in securities		(113,653	)
Net realized loss on foreign currency transactions		(103	)
Net Realized Loss on Investments and Foreign Currency Transactions		(113,756	)
Net Changes in Unrealized Appreciation of Investments and Foreign Currency Transactions:
Net unrealized appreciation of investments		76,403
Net unrealized depreciation on translation of other assets and liabilities in foreign currencies		(94	)
Net Changes in Unrealized Appreciation of Investments and Foreign Currency Transactions		76,309
Net Loss on Investments and Foreign Currency Transactions		(37,447	)
Net Decrease in Net Assets Resulting from Operations	$	(35,290	)

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

8

The Hartford International Growth Fund

Statement of Changes in Net Assets

(000’s Omitted)

	For the Six-Month
	Period Ended			For the
	April 30, 2009			Year Ended
	(Unaudited)			October 31, 2008
Operations:
Net investment income	$	2,157		$	1,647
Net realized loss on investments and foreign currency transactions		(113,756	)		(257,465	)
Net unrealized appreciation (depreciation) of investments and foreign currency transactions		76,309			(180,270	)
Net decrease in net assets resulting from operations		(35,290	)		(436,088	)
Distributions to Shareholders:
From net investment income
Class I		(457	)		—
Class R4		(1	)		—
Class R5		—			—
Class Y		(47	)		—
From net realized gain on investments
Class A		—			(55,090	)
Class B		—			(6,887	)
Class C		—			(8,792	)
Class I		—			(462	)
Class R3		—			(2	)
Class R4		—			(2	)
Class R5		—			(2	)
Class Y		—			(9,495	)
Total distributions		(505	)		(80,732	)
Capital Share Transactions:
Class A		(17,329	)		60,051
Class B		(1,622	)		2,861
Class C		(3,902	)		4,415
Class I		3,931			141,027
Class R3		(25	)		472
Class R4		79			254
Class R5		1			2
Class Y		(39,175	)		45,691
Net increase (decrease) from capital share transactions		(58,042	)		254,773
Net decrease in net assets		(93,837	)		(262,047	)
Net Assets:
Beginning of period		366,718			628,765
End of period	$	272,881		$	366,718
Accumulated undistributed net investment income	$	2,164		$	512

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

9

The Hartford International Growth Fund

Notes to Financial Statements
April 30, 2009 (Unaudited)

(000’s Omitted)

1.	Organization:
	The Hartford Mutual Funds, Inc. (“Company”) is an open-end management investment company comprised of fifty-two portfolios. Financial statements for The Hartford International Growth Fund (the “Fund”), a series of the Company, are included in this report.
	The Company is organized under the laws of the State of Maryland and is registered with the Securities and Exchange Commission (“SEC”) under the Investment Company Act of 1940, as amended (“1940 Act”). The Fund is a diversified open-end management investment company.
	Class A shares are sold with a front-end sales charge of up to 5.50%. Class B shares are sold with a contingent deferred sales charge which is assessed on the lesser of the per share net asset value (“NAV”) of the shares at the time of redemption or the original purchase price, and declines from up to 5.00% to zero depending on the period of time the shares are held. Class C shares are sold with a contingent deferred sales charge of up to 1.00% on shares redeemed within twelve months of purchase. Class I shares are sold without sales charges to certain eligible investors through advisory fee-based wrap programs. Classes R3, R4, R5 shares, which are offered to employer-sponsored retirement plans, and Class Y shares, which are sold to certain eligible institutional investors, are sold without a sales charge. All classes of shares have identical voting, redemption, dividend, liquidation and other rights and the same terms and conditions, with the exceptions that each class may have different expenses, which may affect performance, and except that Class B shares automatically convert to Class A shares after 8 years.
	Effective at the close of business on September 30, 2009 (the “Close Date”), no new or additional investments will be allowed in Class B shares of The Hartford Mutual Funds (including investments through any systematic investment plan). After the Close Date, existing shareholders of Class B shares may continue to hold their Class B shares, exchange their Class B shares for Class B shares of another Hartford Mutual Fund (as permitted by existing exchange privileges), and redeem their Class B shares as described in the Fund’s prospectus. Reinstatement privileges with respect to Class B shares will continue under the current policy. If you have chosen to reinvest capital gains and dividends, any such capital gains or dividends on Class B shares will continue to be reinvested in Class B shares of the Fund. For Class B shares outstanding as of the Close Date, all Class B share attributes, including the 12b-1 fee, contingent deferred sales charge schedule, and conversion to Class A shares remain unchanged.
2.	Significant Accounting Policies:
	The following is a summary of significant accounting policies of the Fund, which are in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”).

a)	Security Transactions and Investment Income — Security transactions are recorded on the trade date (the date the order to buy or sell is executed). Security gains and losses are determined on the basis of identified cost.
	Dividend income is accrued as of the ex-dividend date, except that certain dividends for foreign securities where the ex-dividend date may have passed are recorded as soon as the Fund is informed of the dividend in the exercise of reasonable diligence. Interest income, including amortization of premium and accretion of discounts, is accrued on a daily basis.
b)	Security Valuation — The Fund generally uses market prices in valuing portfolio securities. If market prices are not readily available or are deemed unreliable, the Fund will use the fair value of the security as determined in good faith under policies and procedures established by and under the supervision of the Fund’s Board of Directors. Market prices may be deemed unreliable, for example, if a security is thinly traded or if an event has occurred after the close of the security’s primary markets, but before the close of the New York Stock Exchange (the “Exchange”) (normally 4:00 p.m. Eastern Time, referred to as the “Valuation Time”) that is expected to affect the value of the portfolio security. The circumstances in which the Fund may use fair value pricing include, among others: (i) the occurrence of events that are significant to a particular issuer, such as mergers, restructuring or defaults; (ii) the occurrence of events that are

10

significant to an entire market, such as natural disasters in a particular region or governmental actions; (iii) trading restrictions on securities; (iv) thinly traded securities and (v) market events such as trading halts and early market closings. In addition, with respect to the valuation of stocks primarily traded on foreign markets, the Fund uses a fair value pricing service approved by the Fund’s Board of Directors, which employs quantitative models that evaluate changes in the value of foreign market proxies (e.g., futures contracts, ADR’s, exchange traded funds (“ETF’s”)) after the close of the foreign markets but before the close of the Exchange. Securities that are primarily traded on foreign markets may trade on days that are not business days of the Fund. The value of the foreign securities in which the Fund invests may change on days when a shareholder will not be able to purchase or redeem shares of the Fund. Fair value pricing is subjective in nature and the use of fair value pricing by the Fund may cause the NAV of its shares to differ significantly from the NAV that would have been calculated using market prices at the close of the exchange on which a portfolio security is primarily traded but before the close of the Exchange. There can be no assurance that the Fund could obtain the fair value assigned to a security if the Fund were to sell the security at approximately the time at which the Fund determines its NAV.

Exchange traded equity securities shall be valued at the last reported sale price on the exchange or market on which the security is primarily traded (the “Primary Market”) at the Valuation Time. If the security did not trade on the Primary Market, it may be valued at the Valuation Time at the last reported sale price on another exchange where it trades. The value of an equity security not traded on any exchange but traded on the Nasdaq Stock Market, Inc. (“Nasdaq”) or another over-the-counter market shall be valued at the last reported sale price or official closing price on the exchange or market on which the security is traded as of the Valuation Time. If it is not possible to determine the last reported sale price or official closing price on the relevant exchange or market at the Valuation Time, the value of the security shall be taken to be the most recent mean between bid and asked prices on such exchange or market at the Valuation Time.

Securities of foreign issuers and non-dollar securities are translated from the local currency into U.S. dollars using prevailing exchange rates.

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

A forward currency contract shall be valued based on the price of the underlying currency at the prevailing interpolated exchange rate, which is a combination of the spot currency rate and the forward currency rate. Spot currency rates and forward currency rates are obtained from an independent pricing service on a daily basis not more than one hour before the Valuation Time.

Other derivative or contractual type instruments shall be valued using market prices if such instruments trade on an exchange or market. If such instruments do not trade on an exchange or market, such instruments shall be valued at a price at which the counterparty to such contract would repurchase the instrument. In the event that the counterparty cannot provide a price, such valuation may be determined in accordance with procedures established by the Fund’s Board of Directors.

c)

Foreign Currency Transactions — The accounting records of the Fund are maintained in U.S. dollars. All assets and liabilities initially expressed in foreign currencies are converted into U.S. dollars at the prevailing exchange rates. Purchases and sales of investment securities, dividend and interest income and certain expenses are translated at the rates of exchange prevailing on the respective dates of such transactions.

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

11

The Hartford International Growth Fund

Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

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

d)	Securities Lending — The Fund may lend its securities to certain qualified brokers who pay the Fund negotiated lender fees. The loans are fully collateralized at all times with cash and/or U.S. Government Securities and/or repurchase agreements. The cash collateral is then invested in short-term money market instruments. The repurchase agreements are fully collateralized by U.S. Government Securities. The adequacy of the collateral for securities on loan is monitored on a daily basis. For instances where the market value of collateral falls below the market value of the securities out on loan, such collateral is supplemented on the following business day.
	While securities are on loan, the Fund is subject to the following risks: 1) that the borrower may default on the loan and that the collateral could be inadequate in the event the borrower defaults, 2) that the earnings on the collateral invested may not be sufficient to pay fees incurred in connection with the loan, 3) that the principal value of the collateral invested may decline and may not be sufficient to pay back the borrower for the amount of the collateral posted, 4) that the borrower may use the loaned securities to cover a short sale which may place downward pressure on the market prices of the loaned securities, 5) that return of loaned securities could be delayed and could interfere with portfolio management decisions and 6) that any efforts to recall the securities for purposes of voting a proxy may not be effective. The Fund had no securities out on loan as of April 30, 2009.
e)	Joint Trading Account — Pursuant to an exemptive order issued by the SEC, the Fund may transfer uninvested cash balances into a joint trading account managed by Wellington Management Company, LLP (“Wellington”). These balances may be invested in one or more repurchase agreements and/or short-term money market instruments.
f)	Repurchase Agreements — A repurchase agreement is an agreement by which the seller of a security agrees to repurchase the security sold at a mutually agreed upon time and price. At the time the Fund enters into a repurchase agreement, the value of the underlying collateral security(ies), including accrued interest, will be equal to or exceed the value of the repurchase agreement. Securities that serve to collateralize the repurchase agreement are held by the Fund’s custodian in book entry or physical form in the custodial account of the Fund or in a third party custodial account. Repurchase agreements are valued at cost plus accrued interest. The Fund, as shown on the Schedule of Investments, had outstanding repurchase agreements as of April 30, 2009.
g)	Forward Foreign Currency Contracts — The Fund may enter into forward foreign currency contracts that obligate the Fund to repurchase/replace or sell currencies at specified future dates. Forward foreign currency contracts may be used to hedge against adverse fluctuations in exchange rates between currencies.
	Forward foreign currency contracts involve elements of market risk in excess of the amount reflected in the Statement of Assets and Liabilities. In addition, risks may arise upon entering into these contracts from the potential inability of the counterparties to meet the terms of the contracts and from unanticipated movements in the value of the foreign currencies relative to the U.S. dollar.
h)	Indexed Securities — The Fund may invest in indexed securities whose values are linked to changes in interest rates, indices, or other underlying instruments. The Fund uses these securities to increase or decrease its exposure to different underlying instruments and to gain exposure to markets that might be difficult to invest in using conventional securities. Indexed securities may be more volatile than their underlying instruments, but any loss is limited to the amount of the original investment and there may be a limit to the potential appreciation of the investment. The Fund had no investments in indexed securities as of April 30, 2009.
i)	Fund Share Valuation and Dividend Distributions to Shareholders — Orders for the Fund’s shares are executed in accordance with the investment instructions of the shareholders. The NAV of the Fund’s shares is determined as of the

12

close of each business day of the Exchange. The NAV is determined separately for each class of the Fund by dividing the Fund’s net assets attributable to that class by the number of shares of the class outstanding. Orders for the purchase of the Fund’s shares prior to the close of the Exchange on any day on which the Exchange is open for business are priced at the NAV determined as of the close of the Exchange. Orders after the close of the Exchange, or on a day on which the Exchange and/or the Fund is not open for business, are priced at the next determined NAV.

The Fund intends to distribute substantially all of its net investment income and net realized capital gains to shareholders no less frequently than once a year. Normally, dividends from net investment income are declared and paid annually. Dividends are paid on shares beginning on the business day after the day when the funds used to purchase the shares are collected by the transfer agent for the Fund. Unless shareholders specify otherwise, all dividends will be automatically reinvested in additional full or fractional shares of the Fund.

Distributions from net investment income, realized capital gains and capital are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP with respect to character and timing. These differences include but are not limited to foreign currency gains and losses, losses deferred due to wash sales adjustments, adjustments related to Passive Foreign Investment Companies and certain derivatives, and excise tax regulations. Permanent book and federal income tax basis differences relating to shareholder distributions will result in reclassifications to certain of the Fund’s capital accounts (see Federal Income Taxes: Reclassification of Capital Accounts footnote).

j)	Illiquid and Restricted Securities — The Fund is permitted to invest up to 15% of its net assets in illiquid securities. “Illiquid Securities” are those that may not be sold or disposed of in the ordinary course of business within seven days, at approximately the price used to determine the Fund’s NAV. The Fund may not be able to sell illiquid securities or other investments when its sub-adviser considers it desirable to do so or may have to sell such securities or investments at a price that is lower than the price that could be obtained if the securities or investments were more liquid. A sale of illiquid securities or other investments may require more time and may result in higher dealer discounts and other selling expenses than does the sale of those that are liquid. Illiquid securities and investments also may be more difficult to value, due to the unavailability of reliable market quotations for such securities or investments, and investment in them may have an adverse impact on the Fund’s NAV. The Fund may also purchase certain restricted securities, commonly known as Rule 144A securities, that can be resold to institutions and which may be determined to be liquid pursuant to policies and guidelines established by the Fund’s Board of Directors. The Fund had no illiquid or restricted securities as of April 30, 2009.
k)	Securities Purchased on a When-Issued or Delayed-Delivery Basis — Delivery and payment for securities that have been purchased by the Fund on a forward commitment, or when-issued or delayed-delivery basis take place beyond the customary settlement period. During this period, such securities are subject to market fluctuations, and the Fund identifies securities segregated in its records with value at least equal to the amount of the commitment. As of April 30, 2009, the Fund entered into outstanding when-issued or forward commitments with a cost of $3,728.
l)	Use of Estimates — The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and the reported amounts of income and expenses during the period. Operating results in the future could vary from the amounts derived from management’s estimates.
m)	Financial Accounting Standards Board Financial Accounting Standards No. 157 — Effective November 1, 2008, the Fund adopted Financial Accounting Standards Board (“FASB”) Statement of Financial Accounting Standards No. 157, “Fair Value Measurements” (“FAS 157”). This standard clarifies the definition of fair value for financial reporting, establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements. Fair value is defined under FAS 157 as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Under FAS 157, a fair value measurement should reflect all of the assumptions that market participants would use in pricing the asset or liability, including assumptions

13

The Hartford International Growth Fund

Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

about the risk inherent in a particular valuation technique, the effect of a restriction on the sale or use of an asset, and the risk of nonperformance.

Various inputs are used in determining the value of the Fund’s investment. These inputs are summarized, per FAS 157, into three broad hierarchy levels. This hierarchy is based on whether the valuation inputs are observable or unobservable. These levels are:

• Level 1 — Quoted prices in active markets for identical securities. Level 1 includes exchange-traded instruments such as domestic equities, some foreign equities, options, futures, mutual funds, ETF’s, and rights and warrants.

• Level 2 — Observable inputs other than Level 1 prices, such as quoted prices for similar securities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the security. Level 2 includes debt securities that are traded less frequently than exchange-traded instruments and that are valued using third party pricing services and foreign equities, whose value is determined using a multi-factor regression model with inputs that are observable in the market; and money market instruments, which are carried at amortized cost.

• Level 3 — Significant unobservable inputs that are supported by little or no market activity. Level 3 includes financial instruments whose values are determined using broker quotes and require significant management judgment or estimation. This category includes broker quoted securities, long dated OTC options and securities where trading has been halted or there are certain restrictions on trading. While these securities are priced using unobservable inputs, the valuation of these securities reflects the best available data and management believes the prices are a good representation of exit price.

Individual securities within any of the above mentioned asset classes may be assigned a different hierarchical level than those presented above, as individual circumstances dictate.

FAS 157 also requires that a roll forward reconciliation be shown for all Level 3 securities from the beginning of the reporting period to the end of the reporting period. Part of this reconciliation includes transfers in and/or out of Level 3. For purposes of this reconciliation, transfers in are shown at the end of period fair value and transfers out are shown at the beginning of period fair value. During the six-month period ended April 30, 2009, the Fund held no Level 3 securities.

Refer to the valuation hierarchy levels summary found following the Schedule of Investments.

FASB Staff Position No. 157-4 — In April 2009, FASB released FASB Staff Position No. 157-4, “Determining Fair Value When the Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly” (“FSP FAS 157-4”). FSP FAS 157-4 provides additional guidance on determining whether a market for a financial asset is not active and a transaction is not distressed when measuring fair value under FAS 157. The FSP also requires additional disclosure detail on debt and equity securities by major investment categories. FSP FAS 157-4 is effective for interim and annual periods ending after June 15, 2009. At this time, management is evaluating the implications of FSP FAS 157-4 and does not believe it will impact valuation but will require additional disclosure. This additional disclosure has not yet been implemented.

n)

Financial Accounting Standards Board Financial Accounting Standards No. 161 — In March 2008, the FASB released Statement of Financial Accounting Standards No. 161, “Disclosures about Derivative Instruments and Hedging Activities” (“FAS 161”). FAS 161 requires companies to disclose information detailing the objectives and strategies for using derivative instruments, the level of derivative activity entered into by the company and any credit risk-related contingent features of the agreements. The application of FAS 161 is required for fiscal years and interim periods beginning after November 15, 2008. At this time, management is evaluating the implications of FAS 161 and has not yet implemented the new disclosure standard.

o)

Indemnifications: Under the Company’s organizational documents, the Company shall indemnify its officers and directors to the full extent required or permitted under Maryland General Corporation Law and the federal securities law.

14

In addition, the Company, on behalf of the Fund, may enter into contracts that contain a variety of indemnifications. The Company’s maximum exposure under these arrangements is unknown. However, the Company has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote.

3. Federal Income Taxes:

a)

Federal Income Taxes — For federal income tax purposes, the Fund intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code (“IRC”) by distributing substantially all of its taxable net investment income and net realized capital gains to its shareholders and otherwise complying with the requirements of regulated investment companies. The Fund has distributed substantially all of its income and capital gains in prior years and the Fund intends to distribute substantially all of its income and gains during the calendar year ending December 31, 2009. Accordingly, no provision for federal income or excise taxes has been made in the accompanying financial statements. Distributions from short-term capital gains are treated as ordinary income distributions for federal income tax purposes.

b)

The tax character of distributions paid by the Fund for the periods indicated is as follows (as adjusted for dividends payable):

	For the Year Ended		For the Year Ended
	October 31, 2008		October 31, 2007
Ordinary Income	$	46,092	$	20,540
Long-Term Capital Gains *		34,640		10,237

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

As of October 31, 2008, the Fund’s components of distributable earnings (deficit) on a tax basis were as follows:

	Amount
Undistributed Ordinary Income	$	505
Accumulated Capital Losses*	$	(194,181	)
Unrealized Depreciation†	$	(125,553	)
Total Accumulated Deficit	$	(319,229	)

*	The Fund has capital loss carryforwards that are identified in the Capital Loss Carryforward note that follows.
†	The differences between book-basis and tax-basis unrealized appreciation (depreciation) are attributable to the tax deferral of wash sales losses, the mark-to-market adjustment for certain derivatives in accordance with IRC Sec. 1256, the mark to market for Passive Foreign Investment Companies and basis differences in real estate investment trusts.

c) Reclassification of Capital Accounts — In accordance with American Institute of Certified Public Accountants (AICPA) Statement of Position 93-2, Determination, Disclosure, and Financial Statement Presentation of Income, Capital Gain, and Return of Capital Distributions by Investment Companies, the Fund has recorded reclassifications in its capital accounts. These reclassifications had no impact on the NAV of the Fund. The reclassifications are a result of permanent differences between GAAP and tax accounting for such items as net operating losses that reduce distribution requirements. Adjustments are made to reflect the impact these items have on current and future distributions to shareholders. Therefore, the source of the Fund’s distributions may be shown in the accompanying Statement of Changes in Net Assets as from net investment income, from net realized gains on investments or from capital depending on the type of book and tax differences that exist. As of October 31, 2008, the Fund recorded reclassifications to decrease undistributed net investment income by $1,135, increase accumulated net realized gain by $1,075, and increase paid in capital by $60.

15

The Hartford International Growth Fund

Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

d) Capital Loss Carryforward — At October 31, 2008 (tax-year-end), the Fund had capital loss carryforwards for U.S. federal income tax purposes of approximately:

Year	Amount
2016	$	194,181
Total	$	194,181

e) Financial Accounting Standards Board Interpretation No. 48 — On July 13, 2006, the FASB released FASB Interpretation No. 48 “Accounting for Uncertainty in Income Taxes” (“FIN 48”). FIN 48 provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. The Fund adopted FIN 48 for fiscal years beginning after December 15, 2006. Management has evaluated the implications of FIN 48 for all open tax years (tax years ended October 31, 2006 — 2008) and has determined there is no impact to the Fund’s financial statements.

4. Expenses:

a)

Investment Management Agreements — Hartford Investment Financial Services, LLC (“HIFSCO”) serves as investment manager to the Fund pursuant to an Investment Management Agreement with The Hartford Mutual Funds, Inc. As investment manager, HIFSCO has overall investment supervisory responsibility for the Fund. In addition, HIFSCO provides administrative personnel, services, equipment, facilities and office space for proper operation of the Fund. HIFSCO has contracted with Wellington for the provision of day-to-day investment management services to the Fund in accordance with the Fund’s investment objective and policies. The Fund pays a fee to HIFSCO, a portion of which may be used to compensate Wellington.

The schedule below reflects the rates of compensation paid to HIFSCO for investment management services rendered during the six-month period ended April 30, 2009; the rates are accrued daily and paid monthly:

Average Daily Net Assets	Annual Fee
On first $500 million		0.9000	%
On next $500 million		0.8500	%
On next $4 billion		0.8000	%
On next $5 billion		0.7975	%
Over $10 billion		0.7950	%

b) Accounting Services Agreement — Pursuant to the Fund Accounting Agreement between Hartford Life Insurance Company (“HLIC”) and the Fund, HLIC provides accounting services to the Fund and receives monthly compensation on the Fund’s average net assets. The Fund’s accounting service fees are accrued daily and paid monthly.

Average Daily Net Assets	Annual Fee
On first $5 billion		0.018	%
On next $5 billion		0.016	%
Over $10 billion		0.014	%

c) Operating Expenses — Allocable expenses incurred by the Company are allocated to each Fund and allocated to classes within the Fund in proportion to the average daily net assets of the Fund and each class, except where allocation of certain expenses is more fairly made directly to the Fund or to specific classes within a Fund. During the six-month period ended April 30, 2009, HIFSCO has contractually limited the total operating expenses of this Fund, exclusive of taxes, interest expense, brokerage commissions, certain distribution expenses and extraordinary expenses as follows:

Class A	Class B	Class C	Class I	Class R3	Class R4	Class R5	Class Y
1.60%	2.35%	2.35%	1.35%	1.85%	1.55%	1.25%	1.20%

16

d)

Fees Paid Indirectly — The Fund has entered into agreements with State Street Global Markets, LLC and Russell Implementation Services Inc. to partially recapture non-discounted trade commissions. Such rebates are used to pay a portion of the Fund’s expenses. In addition, the Fund’s custodian bank has also agreed to reduce its fees when the Fund maintains cash on deposit in the non-interest-bearing custody account. For the six-month period ended April 30, 2009, these amounts are included in the Statement of Operations.

The ratio of expenses to average net assets in the accompanying financial highlights excludes the reduction in expenses related to fees paid indirectly. Had the fees paid indirectly been included, the annualized expense ratio for the periods listed below would have been as follows:

	Annualized
	Six-Month
	Period			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended
	Ended April 30,			October 31,			October 31,			October 31,			October 31,			October 31,
	2009			2008			2007			2006			2005			2004
Class A Shares		1.35	%		1.47	%		1.48	%		1.56	%		1.53	%		1.59	%
Class B Shares		1.74			2.24			2.32			2.26			2.28			2.29
Class C Shares		2.14			2.20			2.19			2.31			2.28			2.28
Class I Shares		0.87			1.02			1.09			1.35	*
Class R3 Shares		1.78			1.85			1.83	†
Class R4 Shares		1.52			1.46			1.45	‡
Class R5 Shares		1.24			1.08			1.16	§
Class Y Shares		1.02			0.98			1.01			1.12			1.13			1.05

*	From August 31, 2006 (commencement of operations), through October 31, 2006
†	From December 22, 2006 (commencement of operations), through October 31, 2007
‡	From December 22, 2006 (commencement of operations), through October 31, 2007
§	From December 22, 2006 (commencement of operations), through October 31, 2007

e)

Distribution and Service Plan for Class A, B, C, R3 and R4 Shares — HIFSCO is the principal underwriter and distributor of the Fund. HIFSCO is engaged in distribution activities, which include marketing and distribution of shares through broker-dealers, financing distribution costs and maintaining financial books and records. For the six-month period ended April 30, 2009, HIFSCO received front-end load sales charges of $303 and contingent deferred sales charges of $26 from the Fund.

The Fund has adopted Distribution and Service Plans in accordance with Rule 12b-1 of the Investment Company Act of 1940, as amended, to compensate the distributor (HIFSCO) for activities intended to result in the sale and distribution of Classes A, B, C, R3 and R4 shares and for providing services for shareholders. The Rule 12b-1 plan applicable to Class A shares of the Funds provides for payment of a Rule 12b-1 fee of up to 0.35% of average daily net assets; however, the Board of Directors has currently authorized 12b-1 payments of only up to 0.25%. Some or all of the fee may be used for shareholder servicing expenses with the remainder used for distribution expenses. Some or the entire Rule 12b-1 fee for Class B shares may be remitted to broker-dealers for distribution and/or shareholder account services. Under the Class B Plan, the Fund pays the distributor 1.00% of the average daily net assets of Class B shares that are outstanding for 8 years or less, 0.25% of which is a fee for services provided to existing shareholders with the remainder used for distribution expenses. After eight years, Class B shares convert to Class A shares. Upon conversion to Class A shares, the Class A plan described above will apply to those shares. Under the Class C Plan, the Fund pays the distributor 1.00% of the average daily net assets of Class C shares outstanding, 0.25% of which is intended as a fee for services provided to existing shareholders with the remainder used for distribution expenses. For Class C shares, some or the entire fee may be remitted to broker-dealers for distribution and/or shareholder account services. Class R3 shares have a distribution fee of 0.50% and Class R4 shares have a distribution fee of 0.25%. For Classes R3 and R4 shares, some or the entire fee may be remitted to broker dealers for distribution and/or shareholder account services. The Fund’s 12b-1 fees are accrued daily and paid monthly.

17

The Hartford International Growth Fund

Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

For the six-month period ended April 30, 2009, total sales commissions paid to affiliated brokers/dealers of The Hartford for distributing the Fund’s shares were $12. These commissions are in turn paid to sales representatives of the broker/dealers.

f)	Other Related Party Transactions — Certain officers of the Fund are directors and/or officers of HIFSCO and/or The Hartford or its subsidiaries. For the six-month period ended April 30, 2009, a portion of the Fund’s chief compliance officer’s salary was paid by the Fund in the amount of $1. Hartford Administrative Services Company (“HASCO”), an indirect wholly owned subsidiary of The Hartford, provides transfer agent services to the Fund. HASCO was compensated $448 for providing such services. These fees are accrued daily and paid monthly.
g)	Payments from Affiliate:
	The total return in the accompanying financial highlights includes payment from affiliates. Had the payment from affiliates been excluded, the total return for the periods listed below would have been as follows:

	Total Return
	Excluding
	Payment from
	Affiliate for the
	Year Ended
	October 31, 2007
Class A		39.31	%
Class B		38.11
Class C		38.27
Class I		39.73
Class Y		40.01

5.	Affiliate Holdings:
	As of April 30, 2009, affiliates of The Hartford had ownership of shares in the Fund as follows:

	Shares
Class R5		1

6.	Investment Transactions:
	For the six-month period ended April 30, 2009, the Fund’s aggregate purchases and sales of investment securities (excluding short-term investments) were as follows:

	Amount
Cost of Purchases Excluding U.S. Government Obligations	$	530,704
Sales Proceeds Excluding U.S. Government Obligations		585,484

18

7.	Capital Share Transactions:
	The following information is for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	For the Six-Month Period Ended April 30, 2009												For the Year Ended October 31, 2008
			Shares					Shares							Shares					Shares
			Issued for					Issued		Net Increase					Issued for					Issued		Net Increase
	Shares		Reinvested		Shares			from		(Decrease) of			Shares		Reinvested		Shares			from		(Decrease) of
	Sold		Dividends		Redeemed			Merger		Shares			Sold		Dividends		Redeemed			Merger		Shares
Class A
Shares		2,662		—		(5,514	)		—		(2,852	)		7,582		3,405		(8,039	)		—		2,948
Amount	$	16,461	$	—	$	(33,790	)	$	—	$	(17,329	)	$	101,116	$	53,556	$	(94,621	)	$	—	$	60,051
Class B
Shares		197		—		(481	)		—		(284	)		472		432		(869	)		—		35
Amount	$	1,135	$	—	$	(2,757	)	$	—	$	(1,622	)	$	6,061	$	6,447	$	(9,647	)	$	—	$	2,861
Class C
Shares		306		—		(994	)		—		(688	)		795		539		(1,277	)		—		57
Amount	$	1,804	$	—	$	(5,706	)	$	—	$	(3,902	)	$	10,626	$	8,047	$	(14,258	)	$	—	$	4,415
Class I
Shares		2,977		72		(2,444	)		—		605			13,176		22		(1,124	)		—		12,074
Amount	$	18,087	$	458	$	(14,614	)	$	—	$	3,931		$	150,705	$	344	$	(10,022	)	$	—	$	141,027
Class R3
Shares		12		—		(17	)		—		(5	)		45		—		(5	)		—		40
Amount	$	79	$	—	$	(104	)	$	—	$	(25	)	$	526	$	2	$	(56	)	$	—	$	472
Class R4
Shares		28		—		(16	)		—		12			19		—		(1	)		—		18
Amount	$	170	$	1	$	(92	)	$	—	$	79		$	261	$	2	$	(9	)	$	—	$	254
Class R5
Shares		—		—		—			—		—			—		—		—			—		—
Amount	$	1	$	—	$	—		$	—	$	1		$	—	$	2	$	—		$	—	$	2
Class Y
Shares		470		7		(6,614	)		—		(6,137	)		3,697		588		(794	)		—		3,491
Amount	$	3,047	$	47	$	(42,269	)	$	—	$	(39,175	)	$	46,346	$	9,496	$	(10,151	)	$	—	$	45,691

The following reflects the conversion of Class B Shares into Class A Shares (reflected as Class A Shares issued and Class B shares redeemed) for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	Shares		Dollars
For the Six-Month Period Ended April 30, 2009		40	$	244
For the Year Ended October 31, 2008		81	$	997

8.	Line of Credit:
	The Fund is one of several Hartford Funds that participate in a $500 million committed revolving line of credit facility. The facility is to be used for temporary or emergency purposes. Under the arrangement, the Fund is required to own securities having a market value in excess of 300% of the total bank borrowings. The interest rate on borrowings varies depending on the nature of the loan. The facility also requires a fee to be paid based on the amount of the commitment. During the six-month period ended April 30, 2009, the Fund did not have any borrowings under this facility.
9.	Industry Classifications:
	Other than the industry classifications “Other Investment Pools and Funds” and “Exchange Traded Funds”, equity industry classifications used in this report are the Global Industry Classification Standard, which was developed by and is the exclusive property and service mark of MSCI, Inc. and Standard & Poor’s.

19

The Hartford International Growth Fund

Financial Highlights (Unaudited)

	- Selected Per-Share Data - (a)																														- Ratios and Supplemental Data -
																																					Ratio of			Ratio of			Ratio of
																																					Expenses			Expenses			Expenses
																																					to Average			to Average			to Average
																																					Net Assets			Net Assets			Net Assets
																																					Before			After			After
								Net																													Waivers			Waivers			Waivers
								Realized																													and			and			and			Ratio of
								and Un-										Distrib-								Net											Reimburse-			Reimburse-			Reimburse-			Net
			Net			Pay-		realized							Dividends			utions								Increase			Net								ments and			ments and			ments and			Invest-			Port-
	Net Asset		Invest-			ments		Gain							from Net			from			Distri-					(Decrease)			Asset						Net Assets		Including			Including			Excluding			ment			folio
	Value at		ment			from		(Loss) on				Total from			Invest-			Realized			butions		Total			in Net			Value at						at End of		Expenses			Expenses			Expenses			Income to			Turn-
	Beginning		Income			(to)		Invest-				Investment			ment			Capital			from		Distri-			Asset			End of			Total			Period		not Subject			not Subject			not Subject			Average			over
Class	of Period		(Loss)			Affiliate		ments				Operations			Income			Gains			Capital		butions			Value			Period			Return(b)			(000’s)		to Cap(c)			to Cap(c)			to Cap(c)			Net Assets			Rate(d)
For the Six-Month Period Ended April 30, 2009 (Unaudited)
A	$	7.07	$	0.05		$	—	$	(0.67	)		$	(0.62	)	$	—		$	—		$	—	$	—		$	(0.62	)	$	6.45			(8.77	)%(e)	$	147,460		1.85	%(f)		1.36	%(f)		1.36	%(f)		1.49	%(f)		190	%
B		6.65		0.03			—		(0.62	)			(0.59	)		—			—			—		—			(0.59	)		6.06			(9.01	) (e)		15,769		2.97	(f)		1.75	(f)		1.75	(f)		1.10	(f)		—
C		6.66		0.02			—		(0.63	)			(0.61	)		—			—			—		—			(0.61	)		6.05			(9.16	) (e)		18,243		2.57	(f)		2.14	(f)		2.14	(f)		0.65	(f)		—
I		7.04		0.06			—		(0.66	)			(0.60	)		(0.04	)		—			—		(0.04	)		(0.64	)		6.40			(8.69	) (e)		82,355		1.84	(f)		0.87	(f)		0.87	(f)		2.07	(f)		—
R3		7.18		0.03			—		(0.68	)			(0.65	)		—			—			—		—			(0.65	)		6.53			(9.05	) (e)		236		2.13	(f)		1.78	(f)		1.78	(f)		0.99	(f)		—
R4		7.23		0.04			—		(0.68	)			(0.64	)		(0.02	)		—			—		(0.02	)		(0.66	)		6.57			(8.83	) (e)		202		1.52	(f)		1.52	(f)		1.52	(f)		1.41	(f)		—
R5		7.28		0.05			—		(0.69	)			(0.64	)		(0.03	)		—			—		(0.03	)		(0.67	)		6.61			(8.79	) (e)		6		1.45	(f)		1.25	(f)		1.25	(f)		1.66	(f)		—
Y		7.30		0.11			—		(0.74	)			(0.63	)		(0.04	)		—			—		(0.04	)		(0.67	)		6.63			(8.66	) (e)		8,610		1.04	(f)		1.04	(f)		1.04	(f)		1.32	(f)		—
For the Year Ended October 31, 2008 (g)
A		18.93		0.05			—		(9.50	)			(9.45	)		—			(2.41	)		—		(2.41	)		(11.86	)		7.07			(56.94	)		181,826		1.48			1.48			1.48			0.36			359
B		18.08		(0.05	)		—		(8.97	)			(9.02	)		—			(2.41	)		—		(2.41	)		(11.43	)		6.65			(57.28	)		19,208		2.39			2.25			2.25			(0.40	)		—
C		18.10		(0.05	)		—		(8.98	)			(9.03	)		—			(2.41	)		—		(2.41	)		(11.44	)		6.66			(57.27	)		24,658		2.21			2.21			2.21			(0.37	)		—
I		18.79		0.01			—		(9.35	)			(9.34	)		—			(2.41	)		—		(2.41	)		(11.75	)		7.04			(56.75	)		86,331		1.03			1.03			1.03			0.13			—
R3		19.24		0.01			—		(9.66	)			(9.65	)		—			(2.41	)		—		(2.41	)		(12.06	)		7.18			(57.08	)		293		1.89			1.85			1.85			0.09			—
R4		19.30		0.02			—		(9.68	)			(9.66	)		—			(2.41	)		—		(2.41	)		(12.07	)		7.23			(56.94	)		139		1.47			1.47			1.47			0.15			—
R5		19.35		0.10			—		(9.76	)			(9.66	)		—			(2.41	)		—		(2.41	)		(12.07	)		7.28			(56.77	)		6		1.08			1.08			1.08			0.76			—
Y		19.38		0.12			—		(9.79	)			(9.67	)		—			(2.41	)		—		(2.41	)		(12.08	)		7.30			(56.72	)		54,257		0.99			0.99			0.99			0.92			—
For the Year Ended October 31, 2007 (g)
A		14.93		0.02			—		5.35				5.37			(0.01	)		(1.36	)		—		(1.37	)		4.00			18.93			39.31	(h)		431,193		1.49			1.49			1.49			0.14			242
B		14.42		(0.11	)		—		5.13		��		5.02			—			(1.36	)		—		(1.36	)		3.66			18.08			38.11	(h)		51,577		2.36			2.33			2.33			(0.73	)		—
C		14.42		(0.09	)		—		5.13				5.04			—			(1.36	)		—		(1.36	)		3.68			18.10			38.27	(h)		65,982		2.20			2.20			2.20			(0.61	)		—
I		14.94		(0.01	)		—		5.40				5.39			(0.18	)		(1.36	)		—		(1.54	)		3.85			18.79			39.73	(h)		3,543		1.12			1.12			1.12			(0.06	)		—
R3(i)		14.79		(0.02	)		—		4.47				4.45			—			—			—		—			4.45			19.24			30.09	(e)		15		1.83	(f)		1.83	(f)		1.83	(f)		(0.15	) (f)		—
R4(j)		14.79		0.03			—		4.48				4.51			—			—			—		—			4.51			19.30			30.49	(e)		13		1.46	(f)		1.46	(f)		1.46	(f)		0.25	(f)		—
R5(k)		14.79		0.07			—		4.49				4.56			—			—			—		—			4.56			19.35			30.83	(e)		13		1.17	(f)		1.17	(f)		1.17	(f)		0.51	(f)		—
Y		15.17		0.02			—		5.55				5.57			—			(1.36	)		—		(1.36	)		4.21			19.38			40.01	(h)		76,429		1.03			1.03			1.03			0.17			—
For the Year Ended October 31, 2006 (g)
A		12.14		0.02			—		2.96				2.98			(0.05	)		(0.14	)		—		(0.19	)		2.79			14.93			24.85			213,186		1.70			1.60			1.60			0.12			165
B		11.77		(0.08	)		—		2.87				2.79			—			(0.14	)		—		(0.14	)		2.65			14.42			23.95			33,252		2.56			2.30			2.30			(0.59	)		—
C		11.77		(0.09	)		—		2.88				2.79			—			(0.14	)		—		(0.14	)		2.65			14.42			23.95			43,336		2.40			2.35			2.35			(0.65	)		—
I(l)		14.34		(0.02	)		—		0.62				0.60			—			—			—		—			0.60			14.94			4.18	(e)		10		1.53	(f)		1.35	(f)		1.35	(f)		(0.49	) (f)		—
Y		12.33		0.06			—		3.02				3.08			(0.10	)		(0.14	)		—		(0.24	)		2.84			15.17			25.38			70,777		1.16			1.16			1.16			0.42			—
For the Year Ended October 31, 2005
A		11.59		0.07			—		0.48				0.55			—			—			—		—			0.55			12.14			4.74			131,430		1.77			1.60			1.60			0.66			183
B		11.32		(0.01	)		—		0.46				0.45			—			—			—		—			0.45			11.77			3.98			22,304		2.66			2.35			2.35			(0.09	)		—
C		11.32		(0.01	)		—		0.46				0.45			—			—			—		—			0.45			11.77			3.98			29,486		2.49			2.35			2.35			(0.07	)		—
Y		11.72		0.08			—		0.53				0.61			—			—			—		—			0.61			12.33			5.20			74,651		1.22			1.20			1.20			0.98			—
For the Year Ended October 31, 2004 (g)
A		9.62		(0.01	)		—		2.03				2.02			—			(0.05	)		—		(0.05	)		1.97			11.59			21.14			50,051		1.91			1.65			1.65			(0.10	)		200
B		9.46		(0.08	)		—		1.99				1.91			—			(0.05	)		—		(0.05	)		1.86			11.32			20.33			8,968		2.83			2.35			2.35			(0.80	)		—
C		9.46		(0.08	)		—		1.99				1.91			—			(0.05	)		—		(0.05	)		1.86			11.32			20.33			12,906		2.63			2.35			2.35			(0.79	)		—
Y		9.69		(0.01	)		—		2.09				2.08			—			(0.05	)		—		(0.05	)		2.03			11.72			21.61			28,775		1.31			1.20			1.20			(0.09	)		—

(a)	Information presented relates to a share outstanding throughout the indicated period.
(b)	Assumes initial investment at net asset value at the beginning of each period, reinvestment of all distributions, the complete redemption of the investment at net asset value at the end of each period and no sales charge. Total return would be reduced if sales charges were taken into account.
(c)	Ratios do not include fees paid indirectly (See Expenses in the accompanying Notes to Financial Statements).
(d)	Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between the classes of shares issued.
(e)	Not annualized.
(f)	Annualized.
(g)	Per share amounts have been calculated using average shares outstanding method.
(h)	Total return without the inclusion of the Payments from (to) Affiliate, as noted on the Statement of Operations, can be found in Expenses in the accompanying Notes to Financial Statements.
(i)	Commenced operations on December 22, 2006.
(j)	Commenced operations on December 22, 2006.
(k)	Commenced operations on December 22, 2006.
(l)	Commenced operations on August 31, 2006.

20

The Hartford International Growth Fund

Directors and Officers (Unaudited)

The Board of Directors appoints officers who are responsible for the day-to-day operations of the Fund and who execute policies formulated by the Directors. Each director serves until his or her death, resignation, or retirement or until the next annual meeting of shareholders is held or until his or her successor is elected and qualifies.

Directors and officers who are employed by or who have a financial interest in The Hartford are considered “interested” persons of the Fund pursuant to the Investment Company Act of 1940, as amended. Each officer and three of the Fund’s directors, as noted in the chart below, are “interested” persons of the Fund. Each director serves as a director for The Hartford Mutual Funds, Inc., The Hartford Mutual Funds II, Inc., The Hartford Income Shares Fund, Inc., Hartford Series Fund, Inc., and Hartford HLS Series Fund II, Inc., which collectively consist of 100 funds. Correspondence may be sent to directors and officers c/o Hartford Mutual Funds, P.O. Box 2999, Hartford, Connecticut 06104-2999, except that correspondence to Ms. Fagely may be sent to 500 Bielenberg Drive, Woodbury, Minnesota 55125.

The table below sets forth, for each director and officer, his or her name, year of birth, current position with the Fund and date first elected or appointed to The Hartford Mutual Funds, Inc. (“MF”) and The Hartford Mutual Funds II, Inc. (“MF2”), principal occupation, and, for directors, other directorships held. The Fund’s statement of additional information contains further information on the directors and is available free of charge by calling 1-888-843-7824 or writing to Hartford Mutual Funds, P.O. Box 64387, St. Paul, MN 55164-0387.

Information on the aggregate remuneration paid to the directors of the Fund can be found in the Statement of Operations herein. The Fund pays a portion of the Chief Compliance Officer’s compensation, but does not pay salaries or compensation to any of its officers or directors who are employed by The Hartford.

Non-Interested Directors

Lynn S. Birdsong (1946) Director since 2003, Co-Chairman of the Investment Committee

Mr. Birdsong is a private investor. Since 1981, Mr. Birdsong has been a partner in Birdsong Company, an advertising specialty firm. Since 2003, Mr. Birdsong has been an independent director of The Japan Fund. From 2003 to March 2005, Mr. Birdsong was an independent director of the Atlantic Whitehall Funds. From 1979 to 2002, Mr. Birdsong was a managing director of Zurich Scudder Investments, an investment management firm. During his employment with Scudder, Mr. Birdsong was an interested director of The Japan Fund.

Robert M. Gavin, Jr. (1940) Director since 2002 (MF) and 1986 (MF2), Chairman of the Board since 2004

Dr. Gavin is an educational consultant. Prior to September 1, 2001, he was President of Cranbrook Education Community and prior to July 1996, he was President of Macalester College, St. Paul, Minnesota.

Duane E. Hill (1945) Director since 2001 (MF) and 2002 (MF2), Chairman of the Nominating Committee

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

Sandra S. Jaffee (1941) Director since 2005

Ms. Jaffee is Chairman and Chief Executive Officer of Fortent (formerly Searchspace Group), a leading provider of compliance/regulatory technology to financial institutions. Ms. Jaffee served as an Entrepreneur in Residence with Warburg Pincus, a private equity firm, from August 2004 to August 2005. From September 1995 to July 2004, Ms. Jaffee served as Executive Vice President at Citigroup, where she was President and Chief Executive Officer of Citibank’s Global Securities Services (1995-2003).

William P. Johnston (1944) Director since 2005, Chairman of the Compliance Committee

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

21

The Hartford International Growth Fund

Directors and Officers (Unaudited)

Phillip O. Peterson (1944) Director since 2002 (MF) and 2000 (MF2), Chairman of the Audit Committee

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

Lemma W. Senbet (1946) Director since 2005

Dr. Senbet is the William E. Mayer Chair Professor of Finance at the University of Maryland, Robert H. Smith School of Business. He was chair of the Finance Department during 1998-2006. Previously he was an endowed professor of finance at the University of Wisconsin-Madison. Also, he was director of the Fortis Funds from March 2000-July 2002. Dr. Senbet served the finance profession in various capacities, including as director of the American Finance Association and President of the Western Finance Association. In 2006, Dr. Senbet was inducted Fellow of Financial Management Association International for his career-long distinguished scholarship and professional service.

Interested Directors and Officers

Thomas M. Marra* (1958) Director since 2002

Mr. Marra has served as President and Chief Operating Officer of The Hartford Financial Services Group, Inc. (“The Hartford”) since 2007. Mr. Marra currently serves as Director of Hartford Life, Inc. (“HL, Inc.”). Mr. Marra served as Chief Operating Officer of Hartford Life Insurance Company, Inc. (“Hartford Life”) (2000-2008), as President of Hartford Life (2002-2008) and as Director of Hartford Life’s Investment Products Division from 1998 to 2000.

* On February 24, 2009, The Hartford and Mr. Marra determined to enter into a mutually agreed separation whereby Mr. Marra will retire, and his role as an executive officer and employee of The Hartford will terminate, effective July 3, 2009. Mr. Marra will resign his position as a Director of the Fund effective June 25, 2009.

Lowndes A. Smith (1939) Director since 2002, Co-Chairman of the Investment Committee

Mr. Smith served as Vice Chairman of The Hartford from February 1997 to January 2002, as President and Chief Executive Officer of Hartford Life, Inc. from February 1997 to January 2002, and as President and Chief Operating Officer of The Hartford Life Insurance Companies from January 1989 to January 2002. Mr. Smith serves as a Director of White Mountains Insurance Group, Ltd., One Beacon Insurance, Symetra Financial and as a Managing Director of Whittington Gray Associates.

John C. Walters* (1962) Director since 2008

Mr. Walters currently serves as Chief Executive Officer, President and Director of HL, Inc. Mr. Walters previously served as President of the U.S. Wealth Management Division of Hartford Life, Inc., as Co-Chief Operating Officer of Hartford Life Insurance Company (2007-2008) and as Executive Vice President and Director of its Investment Products Division (2000-2008). Mr. Walters also serves as Chairman of the Board, Chief Executive Officer, President and Director of Hartford Life Insurance Company and as Executive Vice President of The Hartford. In addition, Mr. Walters is Manager of HL Investment Advisors, LLC (“HL Advisors”).

* Mr. Walters previously served as President and Chief Executive Officer of the Fund (2007 — 2009).

Other Officers

Robert M. Arena, Jr. (1968) President and Chief Executive Officer since 2009 (served as Vice President of the Fund (2006 — 2009))

Mr. Arena serves as Executive Vice President of Hartford Life Insurance Company, (“Hartford Life”). Additionally, Mr. Arena is Director and Senior Vice President of Hartford Administrative Services Company, (“HASCO”), Manager, Chief Executive Officer and President of Hartford Investment Financial Services, LLC (“HIFSCO”) and HL Advisors. Prior to joining The Hartford in 2004, he was Senior Vice President in charge of Product Management for American Skandia/Prudential in the individual annuities division. Mr. Arena joined American Skandia in 1996.

Tamara L. Fagely (1958) Vice President, Treasurer and Controller since 2002 (MF) 1993 (MF2)

Ms. Fagely has been a Vice President of HASCO since 1998 and Chief Financial Officer since 2006. Currently Ms. Fagely is a Vice President of Hartford Life. She served as Assistant Vice President of Hartford Life from December 2001 through March 2005. In addition, Ms. Fagely is Controller and Chief Financial Officer of HIFSCO.

Brian Ferrell (1962) AML Compliance Officer since 2008

Mr. Ferrell has served as Assistant Vice President and AML Compliance Officer for The Hartford since 2006 and as AML Compliance Officer for HASCO and Hartford Investor Services Company, LLC (“HISC”) since 2008. Prior to joining The Hartford in 2006, Mr. Ferrell held various positions at the U.S. Department of the Treasury, (the “Treasury”), from 2001 to 2006 where he served as Chief Counsel for the Treasury’s Financial Crimes Enforcement Network, (“FinCEN”) from 2005 — 2006.

22

Thomas D. Jones, III (1965) Vice President and Chief Compliance Officer since 2006

Mr. Jones serves as Chief Compliance Officer for the Hartford Mutual Funds and Vice President and Director of Securities Compliance for The Hartford. He is also Vice President of HIFSCO, HL Advisors, and Hartford Life Insurance Company. Mr. Jones joined The Hartford in 2006 from SEI Investments, where he served as Chief Compliance Officer for its mutual funds and investment advisers. Prior to joining SEI, Mr. Jones was First Vice President and Compliance Director for Merrill Lynch Investment Managers (Americas) (“MLIM”), where he worked from 1992-2004. At MLIM, Mr. Jones was responsible for the compliance oversight of various investment products, including mutual funds, wrap accounts, institutional accounts and alternative investments.

Edward P. Macdonald (1967) Vice President, Secretary and Chief Legal Officer since 2005

Mr. Macdonald serves as Assistant General Counsel and Assistant Vice President of The Hartford and Chief Legal Officer and Vice President of HIFSCO. He also serves as Vice President and Secretary of HASCO, Assistant Vice President of Hartford Life, and Chief Legal Officer, Secretary and Vice President of HL Advisors. Prior to joining The Hartford in 2005, Mr. Macdonald was Chief Counsel, Investment Management for Prudential Financial (formerly American Skandia Investment Services, Inc.). He joined Prudential in April 1999.

Vernon J. Meyer (1964) Vice President since 2006

Mr. Meyer serves as Senior Vice President of Hartford Life and as Director of its Investment Advisory Group in the Individual Markets Group segment. He also serves as Senior Vice President of HIFSCO and HL Advisors. Prior to joining The Hartford in 2004, Mr. Meyer was with MassMutual which he joined in 1987.

D. Keith Sloane (1960) Vice President since 2009

Mr. Sloane is a Senior Vice President of Hartford Life where he serves as Director of mutual fund product management for The Hartford’s mutual funds and 529 college savings businesses. Additionally, Mr. Sloane currently serves as Senior Vice President of HIFSCO, HL Advisors, and HASCO. Prior to joining The Hartford in 2007, Mr. Sloane was Director of product marketing and led the mutual fund business for Wachovia Securities (“Wachovia”) in their investment products group. Mr. Sloane joined Wachovia in 1995.

Jane Wolak (1961) Vice President since 2009

Ms. Wolak currently serves as Vice President of Hartford Life. Ms. Wolak joined Hartford Life as Vice President, Retail Product Services in May 2007. She is also Vice President of HASCO. Previously, Ms. Wolak was with Sun Life Financial where she held the position of Vice President, Service Center Operations from 2001 — 2007.

HOW TO OBTAIN A COPY OF THE FUND’S PROXY VOTING POLICIES AND VOTING RECORDS

A description of the policies and procedures that the Fund uses to determine how to vote proxies relating to portfolio securities and a record of how the Fund voted any proxies for the twelve-month period ended June 30, 2008 is available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov.

QUARTERLY PORTFOLIO HOLDINGS INFORMATION

The Fund files a complete schedule of portfolio holdings with the Commission for the first and third quarters of each fiscal year on Form N-Q. The Fund’s Forms are available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov. The Form N-Q may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330.

23

The Hartford International Growth Fund

Expense Example (Unaudited)

Your Fund’s Expenses

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments and contingent deferred sales charges (CDSC) (2) ongoing costs including management fees; distribution fees; and other fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the period of October 31, 2008 through April 30, 2009.

Actual Expenses

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

Hypothetical Example for Comparison Purposes

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

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads) and CDSC. Therefore, the second line 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 are equal to the Fund’s annualized expense ratios multiplied by average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

	Actual return						Hypothetical (5% return before expenses)
					Expenses paid						Expenses paid					Days in
					during the period						during the period					the		Days
	Beginning		Ending Account		October 31,		Beginning		Ending Account		October 31,		Annualized			current		in the
	Account Value		Value		2008 through		Account Value		Value		2008 through		expense			1/2		full
	October 31, 2008		April 30, 2009		April 30, 2009		October 31, 2008		April 30, 2009		April 30, 2009		ratio			year		year
Class A	$	1,000.00	$	912.30	$	6.44	$	1,000.00	$	1,018.05	$	6.80		1.36	%		181		365
Class B	$	1,000.00	$	909.90	$	8.28	$	1,000.00	$	1,016.11	$	8.74		1.75			181		365
Class C	$	1,000.00	$	908.40	$	10.12	$	1,000.00	$	1,014.18	$	10.68		2.14			181		365
Class I	$	1,000.00	$	913.13	$	4.12	$	1,000.00	$	1,020.48	$	4.35		0.87			181		365
Class R3	$	1,000.00	$	909.47	$	8.42	$	1,000.00	$	1,015.96	$	8.89		1.78			181		365
Class R4	$	1,000.00	$	911.70	$	7.20	$	1,000.00	$	1,017.25	$	7.60		1.52			181		365
Class R5	$	1,000.00	$	912.14	$	5.93	$	1,000.00	$	1,018.60	$	6.26		1.25			181		365
Class Y	$	1,000.00	$	913.36	$	4.93	$	1,000.00	$	1,019.84	$	5.21		1.04			181		365

24

The Hartford International Opportunities Fund

Table of Contents

Manager Discussions (Unaudited)	2
Financial Statements
Schedule of Investments at April 30, 2009 (Unaudited)	5
Statement of Assets and Liabilities at April 30, 2009 (Unaudited)	8
Statement of Operations for the Six Month Period Ended April 30, 2009 (Unaudited)	9
Statement of Changes in Net Assets for the Six Month Period Ended April 30, 2009 (Unaudited) and the Year Ended October 31, 2008	10
Notes to Financial Statements (Unaudited)	11
Financial Highlights (Unaudited)	22
Directors and Officers (Unaudited)	23
How to Obtain a Copy of the Fund’s Proxy Voting Policies and Proxy Voting Records (Unaudited)	25
Quarterly Portfolio Holdings Information (Unaudited)	25
Expense Example (Unaudited)	26

The Hartford International Opportunities Fund
(subadvised by Wellington Management Company, LLP)

Performance Overview(1) 4/30/99 — 4/30/09
Growth of a $10,000 investment in Class A which includes Sales Charge

MSCI AC (All Country) World Free ex U.S. Index is a broad based, unmanaged, market capitalization weighted, total return index that measures the performance of both developed and emerging stock markets, excluding the U.S. The index is calculated to exclude companies and share classes which cannot be freely purchased by foreigners.

You cannot invest directly in an index.

The value of shares will fluctuate so that, when redeemed, shares may be worth more or less than their original cost. The chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.

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

Investment objective — Seeks long-term growth of capital.

Average Annual Total Returns(2,3,4) (as of 4/30/09)

	Inception		1			5			10			Since
	Date		Year			Year			Year			Inception
International Opp A#		7/22/96		-40.73	%		2.86	%		0.61	%		2.86	%
International Opp A##		7/22/96		-43.99	%		1.70	%		0.04	%		2.40	%
International Opp B#		7/22/96		-40.98	%		2.22	%		NA	*		NA	*
International Opp B##		7/22/96		-43.89	%		1.89	%		NA	*		NA	*
International Opp C#		7/22/96		-41.17	%		2.08	%		-0.15	%		2.09	%
International Opp C##		7/22/96		-41.75	%		2.08	%		-0.15	%		2.09	%
International Opp I#		5/30/08		-40.50	%		2.94	%		0.65	%		2.89	%
International Opp R3#		7/22/96		-40.94	%		3.01	%		0.89	%		3.19	%
International Opp R4#		7/22/96		-40.70	%		3.22	%		1.00	%		3.27	%
International Opp R5#		7/22/96		-40.60	%		3.31	%		1.04	%		3.31	%
International Opp Y#		7/22/96		-40.41	%		3.41	%		1.09	%		3.35	%

#	Without sales charge
##	With sales charge
NA	Not Applicable
*	10 year and inception returns are not applicable for Class B because after 8 years Class B converts to Class A.

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)	Growth of a $10,000 investment in Classes B, C, I, R3, R4, R5 and Y shares will vary from results seen above due to differences in the expenses charged to these share classes.
(2)	The initial investment in Class A shares reflects the maximum sales charge and Classes B and C reflect CDSC.
(3)	Total returns presented above were calculated using the Fund’s net asset value available to shareholders for sale or redemption of Fund shares on April 30, 2009, which excludes investment transactions as of this date.
(4)	Class C shares commenced operations on 7/31/98. Performance prior to 7/31/98 reflects Class B performance less Class C sales charges where applicable. Class R3, R4 and R5 shares commenced operations on 12/22/06. Performance prior to 12/22/06 reflects Class Y performance. Class I shares commenced operations on 5/30/08. Performance prior to 5/30/08 reflects Class A performance.

Portfolio Manager
Nicolas M. Choumenkovitch
Senior Vice President, Partner

How did the Fund perform?

The Class A shares of The Hartford International Opportunities Fund returned -1.68%, before sales charge, for the six-month period ended April 30, 2009, underperforming its benchmark, the MSCI All Country World Free ex-U.S. Index, which returned 1.31% for the same period. The Fund outperformed the -4.28% return of the average fund in the Lipper International Large Cap Core Funds peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

The benchmark’s slightly positive return for the period masks two significantly different market environments. From the beginning of November through early March stocks fell sharply, reflecting deepening economic worries and concerns over the impact of various governments’ increasing involvement in the global economy. From early March through the end of April stocks rallied as investors came to believe that a Depression-like scenario was less likely. Sector returns within the MSCI All Country World Free ex-U.S. Index diverged widely in this environment, with weakness in traditionally defensive sectors like Health Care

2

(-11%), Utilities (-7%), and Consumer Staples (-5%), offset by strength in more economically sensitive areas like Materials (+15%), Information Technology (+10%), and Industrials (+9%).

The Fund’s underperformance versus its benchmark was due to weak stock selection, which was negative in seven of ten sectors. Selection was weakest within Industrials, Financials, and Energy. Materials was the only sector with strong stock selection. Allocation among sectors, a result of the bottom-up (i.e. stock by stock fundamental research) stock selection process, was slightly negative, largely due to underweight (i.e. the Fund’s sector position was less than the benchmark position) positions in Industrials and Materials. The Fund also benefited from a modest cash position, which helped relative (i.e. performance of the Fund as measured against the benchmark) performance as the market trended lower from November through February.

The largest detractors from relative returns were UBS (Financials), National Grid (Utilities), and East Japan Railway (Industrials). Shares of Swiss financial services provider UBS fell when the firm posted a larger-than-expected quarterly loss due in part to a charge related to the transfer of risky assets to a fund managed by the Swiss National Bank, which was part of a rescue package set up by the Swiss government. In addition, the firm was a target of a U.S. investigation into offshore tax havens and a related investigation regarding U.S. secrecy laws. U.K. electricity transmission and distribution company National Grid saw its stock decline due to a weak U.K. economic outlook and falling power demand expectations. Shares of East Japan Railway fell as the market sought exposure to more cyclically oriented names in Japan. Significant detractors from absolute (i.e. total return) returns included Switzerland-based pharmaceutical company Roche (Health Care).

Top contributors to relative performance during the period included Rio Tinto (Materials), CRH (Materials), and Volkswagen (Consumer Discretionary). Shares of diversified mining company Rio Tinto benefited from rising copper prices and the company’s reduced balance sheet risk following the recently proposed funding deal with Aluminum Corporation of China (CHINALCO). We added to our position in Ireland-based building materials company CRH on weakness surrounding a capital raise because of our confidence in management and their ability to add value by purchasing weaker competitors. This proved beneficial as the stock subsequently rallied as investors began to look through the current drop in volumes to a potential recovery as the global economy stabilizes. The Fund also gained on a relative basis by not holding German car maker Volkswagen, which is part of the benchmark. The stock continued to fall after the rapid appreciation seen in October 2008, which had been driven by Porsche’s move to take a controlling stake in the company. Top absolute contributors also included Impala Platinum (Materials).

What is the outlook?

We believe that government action is, in small increments, helping to reduce the probability of a worst-case outcome for the economy. Against this backdrop, we are looking to identify companies with high quality assets and strong management teams who we believe will be able to successfully take advantage of opportunities presented by weaker competitors during this period. Fund holdings do not reflect one underlying thread or investment thesis, but rather represent a diversification of ideas and opportunities across industries and geographies.

Benchmark-relative sector weights at the end of the period were modest. We were most overweight the (i.e. the Fund’s sector position was greater than the benchmark position) Consumer Discretionary, Telecommunications Services, and Consumer Staples sectors, and most underweight the Energy, Materials, and Industrials sectors. Regionally we ended the period overweight Europe and North America and underweight Emerging Markets, Japan, and Asia Pacific ex Japan.

Diversification by Industry
as of April 30, 2009

	Percentage of
Industry	Net Assets
Automobiles & Components		4.0	%
Banks		11.9
Capital Goods		5.0
Commercial & Professional Services		0.6
Consumer Durables & Apparel		1.6
Consumer Services		1.4
Diversified Financials		6.4
Energy		8.5
Food, Beverage & Tobacco		7.5
Health Care Equipment & Services		1.2
Household & Personal Products		1.3
Insurance		2.7
Materials		8.8
Media		1.2
Other Investment Pools and Funds		2.9
Pharmaceuticals, Biotechnology & Life Sciences		5.9
Real Estate		1.1
Retailing		3.2
Semiconductors & Semiconductor Equipment		1.0
Software & Services		1.3
Technology Hardware & Equipment		4.4
Telecommunication Services		7.4
Transportation		3.2
Utilities		4.3
Short-Term Investments		2.6
Other Assets and Liabilities		0.6
Total		100.0	%

3

Diversification by Country
as of April 30, 2009

	Percentage of
Country	Net Assets
Australia		1.1	%
Canada		6.2
China		0.4
Finland		2.2
France		8.7
Germany		9.2
Greece		1.1
Hong Kong		3.3
Ireland		4.0
Israel		1.7
Japan		11.0
Mexico		1.7
Netherlands		1.7
Russia		1.2
South Africa		1.7
South Korea		1.0
Spain		3.8
Sweden		1.6
Switzerland		7.7
Taiwan		0.9
Turkey		0.8
United Kingdom		22.0
United States		3.8
Short-Term Investments		2.6
Other Assets and Liabilities		0.6
Total		100.0	%

4

The Hartford International Opportunities Fund

Schedule of Investments
April 30, 2009 (Unaudited)
(000’s Omitted)

Shares or Principal Amount			Market Value ╪
COMMON STOCKS — 93.2%
		Australia — 1.1%
	383	Westfield Group	$	2,991
		Canada — 6.2%
	286	Brookfield Asset Management, Inc.		4,380
	99	Canadian Natural Resources Ltd.		4,559
	65	EnCana Corp.		2,975
	123	Toronto-Dominion Bank		4,835
				16,749
		China — 0.4%
	1,784	Industrial and Commercial Bank of China		1,015
		Finland — 2.2%
	414	Nokia Oyj		5,886
		France — 8.7%
	30	BNP Paribas		1,566
	99	France Telecom S.A.		2,197
	107	Groupe Danone ⌂		5,067
	48	L’Oreal S.A.		3,408
	85	Michelin (C.G.D.E.) Class B		4,350
	30	Sanofi-Aventis S.A.		1,721
	99	Total S.A.		4,935
				23,244
		Germany — 9.2%
	35	Allianz SE		3,228
	153	Daimler AG		5,487
	69	Deutsche Boerse AG		5,112
	29	Muenchener Rueckversicherungs NPV		4,006
	54	S.p.A.		2,086
	74	Siemens AG		4,996
				24,915
		Greece — 1.1%
	151	National Bank of Greece		3,136
		Hong Kong — 3.3%
	982	Cathay Pacific Airways Ltd.		1,136
	270	China Merchants Holdings International Co., Ltd.		635
	568	Esprit Holdings Ltd.		3,477
	2,658	Shangri-La Asia Ltd.		3,909
				9,157
		Ireland — 4.0%
	293	CRH plc		7,554
	144	Ryanair Holdings plc •		617
	93	Ryanair Holdings plc ADR •‡		2,553
				10,724
		Israel — 1.7%
	104	Teva Pharmaceutical Industries Ltd. ADR		4,564
		Japan — 11.0%
	25	Astellas Pharma, Inc.		800
	67	East Japan Railway Co.		3,798
	72	Eisai Co., Ltd.		1,927
	46	Ibiden Co., Ltd.		1,357
	—	KDDI Corp. *		1,282
	316	Mitsubishi Electric Corp.		1,683
	791	Mitsubishi UFJ Financial Group, Inc. *		4,314
	123	NGK Spark Plug Co., Ltd.		1,187
	38	Nidec Corp.		2,133
	5	Nintendo Co., Ltd.		1,344
	212	Nippon Steel Corp.		713
	42	Nippon Telegraph & Telephone Corp.		1,564
	62	Olympus Corp.		1,016
	44	Secom Co., Ltd. *		1,629
	112	Softbank Corp.		1,777
	103	Sumitomo Mitsui Financial Group, Inc. *		3,565
				30,089
		Mexico — 1.7%
	98	America Movil S.A.B. de C.V. ADR		3,232
	172	Cemex S.A. de C.V. ADR •‡		1,283
				4,515
		Netherlands — 1.7%
	147	ING Groep N.V.		1,343
	280	Koninklijke (Royal) KPN N.V.		3,367
				4,710
		Russia — 1.2%
	216	Mining and Metallurgical Co. Norilsk Nickel ADR		1,779
	38	Mobile Telesystems OJSC ADR		1,256
				3,035
		South Africa — 1.7%
	237	Impala Platinum Holdings Ltd.		4,537
		South Korea — 1.0%
	6	Samsung Electronics Co., Ltd.		2,631
		Spain — 3.8%
	180	Enagas		3,133
	80	Industria de Diseno Textil S.A.		3,427
	87	Red Electrica Corporacion S.A.		3,629
				10,189
		Sweden — 1.6%
	224	Assa Abloy Ab		2,638
	38	Hennes & Mauritz Ab		1,700
				4,338
		Switzerland — 7.7%
	96	Julius Baer Holding Ltd.		3,139
	175	Nestle S.A.		5,702
	18	Roche Holding AG		2,259
	23	Synthes, Inc.		2,337
	553	UBS AG •		7,595
				21,032
		Taiwan — 0.9%
	878	Hon Hai Precision Industry Co., Ltd.		2,535
		Turkey — 0.8%
	992	Turkiye Garanti Bankasi A.S. •		2,080
		United Kingdom — 22.0%
	133	AstraZeneca plc		4,642
	571	BAE Systems plc		3,001
	320	BG Group plc		5,104
	701	BP plc		4,953
	1,392	HSBC Holding plc		9,900
	211	Imperial Tobacco Group plc		4,804
	584	National Grid plc		4,854

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

5

The Hartford International Opportunities Fund
Schedule of Investments — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

Shares or Principal Amount					Market Value ╪
COMMON STOCKS — 93.2% — (continued)
		United Kingdom — 22.0% — (continued)
	146	Rio Tinto plc			$	5,923
	271	SABMiller plc				4,551
	3,001	Vodafone Group plc				5,515
	73	Wolseley plc ⌂				1,307
	458	WPP plc				3,130
	222	Xstrata plc				1,955
						59,639
		United States — 0.2%
	26	Frontline Ltd				515
		Total common stocks (cost $266,767)			$	252,226
EXCHANGE TRADED FUNDS — 3.6%
		United States — 3.6%
	688	iShares MSCI EAFE Index Fund			$	9,731
		Total exchange traded funds (cost $9,578)			$	9,731
		Total long-term investments (cost $276,345)			$	261,957
SHORT-TERM INVESTMENTS — 2.6%
		Repurchase Agreements — 2.6%
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $1,679, collateralized by GNMA 4.50% — 6.50%, 2038 — 2039, value of $1,713)
$	1,679	0.18%, 04/30/2009			$	1,679
		BNP Paribas Securities Corp. TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $2,010, collateralized by FHLMC 4.50% — 6.50%, 2035 — 2039, FNMA 4.50% — 6.50%, 2034 — 2047, value of $2,050)
	2,010	0.17%, 04/30/2009				2,010
		Deutsche Bank Securities TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $2,808, collateralized by FHLMC 4.00% — 7.00%, 2021 — 2039, FNMA 6.00% — 7.00%, 2034 — 2038, GNMA 4.50% — 7.00%, 2024-2039, value of $2,864)
	2,808	0.17%, 04/30/2009				2,808
		UBS Securities, Inc. Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $9, collateralized by U.S. Treasury Bond 7.50%, 2024, value of $10)
	9	0.14%, 04/30/2009				9
		UBS Securities, Inc. TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $606, collateralized by FHLMC 8.00% — 15.00%, 2009 — 2021, FNMA 3.50% — 15.50%, 2012 — 2039, value of $618)
	606	0.16%, 04/30/2009			$	606
						7,112
		Total short-term investments (cost $7,112)			$	7,112
		Total investments (cost $283,457) ▲	99.4	%	$	269,069
		Other assets and liabilities	0.6	%		1,622
		Total net assets	100.0	%	$	270,691

Note:

Percentage of investments as shown is the ratio of the total market value to total net assets. Market value of investments in foreign securities represents 92.99% of total net assets at April 30, 2009. Foreign securities that are principally traded on certain foreign markets are adjusted daily pursuant to a third party pricing service methodology approved by the Board of Directors in order to reflect an adjustment for factors occurring after the close of the foreign market but before the close of the New York Stock Exchange.

▲

At April 30, 2009, the cost of securities for federal income tax purposes was $293,015 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	16,935
Unrealized Depreciation		(40,881	)
Net Unrealized Depreciation	$	(23,946	)

•	Currently non-income producing.
‡	This security, or a portion of this security, has been segregated to cover funding requirements on investment transactions settling in the future.
*	The cost of securities purchased on a when-issued or delayed delivery basis at April 30, 2009 was $2,899.

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

6

⌂ The following securities are considered illiquid. Illiquid securities are often purchased in private placement transactions, are often not registered under the Securities Act of 1933 and may have contractual restrictions on resale. A security may also be considered illiquid if the security lacks a readily available market or if its valuation has not changed for a certain period of time.

Period	Shares/
Acquired	Par		Security	Cost Basis
09/2008 — 04/2009		107	Groupe Danone	$6,280
06/2008 — 04/2009		73	Wolseley plc	1,968

The aggregate value of these securities at April 30, 2009 was $6,374 which represents 2.35% of total net assets.

Forward Foreign Currency Contracts Outstanding at April 30, 2009

							Unrealized
	Market		Contract		Delivery		Appreciation/
Description	Value ╪		Amount		Date		(Depreciation)
British Pound (Buy)	$	2,010	$	1,989		05/01/09	$	21
British Pound (Buy)		378		379		05/06/09		(1	)
Canadian Dollar (Sell)		316		309		05/01/09		(7	)
Canadian Dollar (Sell)		651		646		05/04/09		(5	)
Euro (Sell)		948		938		05/04/09		(10	)
Hong Kong Dollar (Sell)		358		358		05/04/09		—
Japanese Yen (Sell)		262		267		05/01/09		5
Japanese Yen (Buy)		599		602		05/08/09		(3	)
Swiss Franc (Sell)		253		252		05/04/09		(1	)
Swiss Franc (Sell)		222		224		05/05/09		2
Swiss Franc (Sell)		208		208		05/06/09		—
Turkish New Lira (Sell)		532		534		05/05/09		2
							$	3

╪ See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of securities.

Diversification by Industry
as of April 30, 2009

	Percentage of
Industry	Net Assets
Automobiles & Components		4.0	%
Banks		11.9
Capital Goods		5.0
Commercial & Professional Services		0.6
Consumer Durables & Apparel		1.6
Consumer Services		1.4
Diversified Financials		6.4
Energy		8.5
Food, Beverage & Tobacco		7.5
Health Care Equipment & Services		1.2
Household & Personal Products		1.3
Insurance		2.7
Materials		8.8
Media		1.2
Other Investment Pools and Funds		2.9
Pharmaceuticals, Biotechnology & Life Sciences		5.9
Real Estate		1.1
Retailing		3.2
Semiconductors & Semiconductor Equipment		1.0
Software & Services		1.3
Technology Hardware & Equipment		4.4
Telecommunication Services		7.4
Transportation		3.2
Utilities		4.3
Short-Term Investments		2.6
Other Assets and Liabilities		0.6
Total		100.0	%

FAS 157 Disclosure of Investment Valuation Hierarchy Levels

Assets:
Investment in securities — Level 1	$	46,613
Investment in securities — Level 2		222,456
Total	$	269,069
Other financial instruments — Level 2 *		30
Total	$	30
Liabilities:
Other financial instruments — Level 2 *		27
Total	$	27

* Other financial instruments are derivative instruments not reflected in the Schedule of Investments, such as futures, forwards and swap contracts, which are valued at the unrealized appreciation/depreciation on the investment.

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

7

The Hartford International Opportunities Fund

Statement of Assets and Liabilities
April 30, 2009 (Unaudited)
(000’s Omitted)

Assets:
Investments in securities, at fair value (cost $283,457)	$	269,069
Cash		135
Foreign currency on deposit with custodian (cost $13)		14
Unrealized appreciation on forward foreign currency contracts		30
Receivables:
Investment securities sold		7,413
Fund shares sold		191
Dividends and interest		1,398
Other assets		112
Total assets		278,362
Liabilities:
Unrealized depreciation on forward foreign currency contracts		27
Payables:
Investment securities purchased		7,269
Fund shares redeemed		189
Investment management fees		37
Distribution fees		11
Accrued expenses		138
Total liabilities		7,671
Net assets	$	270,691
Summary of Net Assets:
Capital stock and paid-in-capital		418,195
Accumulated undistributed net investment income		1,539
Accumulated net realized loss on investments and foreign currency transactions		(134,646	)
Unrealized depreciation of investments and the translation of assets and liabilities denominated in foreign currency		(14,397	)
Net assets	$	270,691
Shares authorized		500,000
Par value	$	0.001
Class A: Net asset value per share/Maximum offering price per share	$	9.82/$10.39
Shares outstanding		13,533
Net assets	$	132,921
Class B: Net asset value per share	$	9.09
Shares outstanding		1,572
Net assets	$	14,285
Class C: Net asset value per share	$	8.96
Shares outstanding		2,451
Net assets	$	21,954
Class I: Net asset value per share	$	9.78
Shares outstanding		20
Net assets	$	196
Class R3: Net asset value per share	$	10.04
Shares outstanding		22
Net assets	$	217
Class R4: Net asset value per share	$	10.10
Shares outstanding		123
Net assets	$	1,243
Class R5: Net asset value per share	$	10.13
Shares outstanding		1
Net assets	$	15
Class Y: Net asset value per share	$	10.15
Shares outstanding		9,841
Net assets	$	99,860

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

8

The Hartford International Opportunities Fund

Statement of Operations
For the Six Month Period Ended April 30, 2009 (Unaudited)
(000’s Omitted)

Investment Income:
Dividends	$	4,858
Interest		12
Securities lending		49
Less: Foreign tax withheld		(533	)
Total investment income		4,386
Expenses:
Investment management fees		1,052
Transfer agent fees		440
Distribution fees
Class A		162
Class B		72
Class C		104
Class R3		—
Class R4		1
Custodian fees		22
Accounting services		22
Registration and filing fees		57
Board of Directors’ fees		4
Audit fees		9
Other expenses		70
Total expenses (before waivers and fees paid indirectly)		2,015
Expense waivers		(167	)
Transfer agent fee waivers		(193	)
Commission recapture		(3	)
Custodian fee offset		—
Total waivers and fees paid indirectly		(363	)
Total expenses, net		1,652
Net investment income		2,734
Net Realized Loss on Investments and Foreign Currency Transactions:
Net realized loss on investments in securities		(82,140	)
Net realized loss on foreign currency transactions		(23	)
Net Realized Loss on Investments and Foreign Currency Transactions		(82,163	)
Net Changes in Unrealized Appreciation of Investments and Foreign Currency Transactions:
Net unrealized appreciation of investments		75,801
Net unrealized depreciation on translation of other assets and liabilities in foreign currencies		(64	)
Net Changes in Unrealized Appreciation of Investments and Foreign Currency Transactions		75,737
Net Loss on Investments and Foreign Currency Transactions		(6,426	)
Net Decrease in Net Assets Resulting from Operations	$	(3,692	)

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

9

The Hartford International Opportunities Fund

Statement of Changes in Net Assets

(000’s Omitted)

	For the Six-Month
	Period Ended			For the
	April 30, 2009			Year Ended
	(Unaudited)			October 31, 2008
Operations:
Net investment income	$	2,734		$	5,223
Net realized loss on investments and foreign currency transactions		(82,163	)		(50,877	)
Net unrealized appreciation (depreciation) of investments and foreign currency transactions		75,737			(172,731	)
Net decrease in net assets resulting from operations		(3,692	)		(218,385	)
Distributions to Shareholders:
From net investment income
Class A		(3,361	)		(816	)
Class B		(240	)		—
Class C		(354	)		—
Class I		(6	)		—
Class R3		(4	)		—
Class R4		(29	)		—
Class R5		—			—
Class Y		(2,686	)		(994	)
From net realized gain on investments
Class A		—			(35,677	)
Class B		—			(5,943	)
Class C		—			(4,984	)
Class R3		—			(4	)
Class R4		—			(2	)
Class R5		—			(2	)
Class Y		—			(18,133	)
Total distributions		(6,680	)		(66,555	)
Capital Share Transactions:
Class A		(10,649	)		69,602
Class B		(1,982	)		987
Class C		(766	)		16,805
Class I		63			207
Class R3		142			89
Class R4		299			975
Class R5		5			7
Class Y		29,208			23,783
Net increase from capital share transactions		16,320			112,455
Net increase (decrease) in net assets		5,948			(172,485	)
Net Assets:
Beginning of period		264,743			437,228
End of period	$	270,691		$	264,743
Accumulated undistributed net investment income	$	1,539		$	5,485

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

10

The Hartford International Opportunities Fund

Notes to Financial Statements
April 30, 2009 (Unaudited)
(000’s Omitted)

1.	Organization:
	The Hartford Mutual Funds, Inc. (“Company”) is an open-end management investment company comprised of fifty-two portfolios. Financial statements for The Hartford International Opportunities Fund (the “Fund”), a series of the Company, are included in this report.
	The Company is organized under the laws of the State of Maryland and is registered with the Securities and Exchange Commission (“SEC”) under the Investment Company Act of 1940, as amended (“1940 Act”). The Fund is a diversified open-end management investment company.
	Class A shares are sold with a front-end sales charge of up to 5.50%. Class B shares are sold with a contingent deferred sales charge which is assessed on the lesser of the per share net asset value (“NAV”) of the shares at the time of redemption or the original purchase price, and declines from up to 5.00% to zero depending on the period of time the shares are held. Class C shares are sold with a contingent deferred sales charge of up to 1.00% on shares redeemed within twelve months of purchase. Class I shares are sold without sales charges to certain eligible investors through advisory fee-based wrap programs. Classes R3, R4, R5 shares, which are offered to employer-sponsored retirement plans, and Class Y shares, which are sold to certain eligible institutional investors, are sold without a sales charge. All classes of shares have identical voting, redemption, dividend, liquidation and other rights and the same terms and conditions, with the exceptions that each class may have different expenses, which may affect performance, and except that Class B shares automatically convert to Class A shares after 8 years.
	Effective at the close of business on September 30, 2009 (the “Close Date”), no new or additional investments will be allowed in Class B shares of The Hartford Mutual Funds (including investments through any systematic investment plan). After the Close Date, existing shareholders of Class B shares may continue to hold their Class B shares, exchange their Class B shares for Class B shares of another Hartford Mutual Fund (as permitted by existing exchange privileges), and redeem their Class B shares as described in the Fund’s prospectus. Reinstatement privileges with respect to Class B shares will continue under the current policy. If you have chosen to reinvest capital gains and dividends, any such capital gains or dividends on Class B shares will continue to be reinvested in Class B shares of the Fund. For Class B shares outstanding as of the Close Date, all Class B share attributes, including the 12b-1 fee, contingent deferred sales charge schedule, and conversion to Class A shares remain unchanged.
2.	Significant Accounting Policies:
	The following is a summary of significant accounting policies of the Fund, which are in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”).

a)	Security Transactions and Investment Income — Security transactions are recorded on the trade date (the date the order to buy or sell is executed). Security gains and losses are determined on the basis of identified cost.
	Dividend income is accrued as of the ex-dividend date, except that certain dividends for foreign securities where the ex-dividend date may have passed are recorded as soon as the Fund is informed of the dividend in the exercise of reasonable diligence. Interest income, including amortization of premium and accretion of discounts, is accrued on a daily basis.
b)	Security Valuation — The Fund generally uses market prices in valuing portfolio securities. If market prices are not readily available or are deemed unreliable, the Fund will use the fair value of the security as determined in good faith under policies and procedures established by and under the supervision of the Fund’s Board of Directors. Market prices may be deemed unreliable, for example, if a security is thinly traded or if an event has occurred after the close of the security’s primary markets, but before the close of the New York Stock Exchange (the “Exchange”) (normally 4:00 p.m. Eastern Time, referred to as the “Valuation Time”) that is expected to affect the value of the portfolio security. The circumstances in which the Fund may use fair value pricing include, among others: (i) the occurrence of events that are significant to a particular issuer, such as mergers, restructuring or defaults; (ii) the occurrence of events that are

11

The Hartford International Opportunities Fund

Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

	significant to an entire market, such as natural disasters in a particular region or governmental actions; (iii) trading restrictions on securities; (iv) thinly traded securities and (v) market events such as trading halts and early market closings. In addition, with respect to the valuation of stocks primarily traded on foreign markets, the Fund uses a fair value pricing service approved by the Fund’s Board of Directors, which employs quantitative models that evaluate changes in the value of foreign market proxies (e.g., futures contracts, ADR’s, exchange traded funds (“ETF’s”)) after the close of the foreign markets but before the close of the Exchange. Securities that are primarily traded on foreign markets may trade on days that are not business days of the Fund. The value of the foreign securities in which the Fund invests may change on days when a shareholder will not be able to purchase or redeem shares of the Fund. Fair value pricing is subjective in nature and the use of fair value pricing by the Fund may cause the NAV of its shares to differ significantly from the NAV that would have been calculated using market prices at the close of the exchange on which a portfolio security is primarily traded but before the close of the Exchange. There can be no assurance that the Fund could obtain the fair value assigned to a security if the Fund were to sell the security at approximately the time at which the Fund determines its NAV.
	Exchange traded equity securities shall be valued at the last reported sale price on the exchange or market on which the security is primarily traded (the “Primary Market”) at the Valuation Time. If the security did not trade on the Primary Market, it may be valued at the Valuation Time at the last reported sale price on another exchange where it trades. The value of an equity security not traded on any exchange but traded on the Nasdaq Stock Market, Inc. (“Nasdaq”) or another over-the-counter market shall be valued at the last reported sale price or official closing price on the exchange or market on which the security is traded as of the Valuation Time. If it is not possible to determine the last reported sale price or official closing price on the relevant exchange or market at the Valuation Time, the value of the security shall be taken to be the most recent mean between bid and asked prices on such exchange or market at the Valuation Time.
	Securities of foreign issuers and non-dollar securities are translated from the local currency into U.S. dollars using prevailing exchange rates.
	Financial instruments for which prices are not available from an independent pricing service are valued using market quotations obtained from one or more dealers that make markets in securities in accordance with procedures established by the Fund’s Board of Directors.
	A forward currency contract shall be valued based on the price of the underlying currency at the prevailing interpolated exchange rate, which is a combination of the spot currency rate and the forward currency rate. Spot currency rates and forward currency rates are obtained from an independent pricing service on a daily basis not more than one hour before the Valuation Time.
	Other derivative or contractual type instruments shall be valued using market prices if such instruments trade on an exchange or market. If such instruments do not trade on an exchange or market, such instruments shall be valued at a price at which the counterparty to such contract would repurchase the instrument. In the event that the counterparty cannot provide a price, such valuation may be determined in accordance with procedures established by the Fund’s Board of Directors.
c)	Foreign Currency Transactions — The accounting records of the Fund are maintained in U.S. dollars. All assets and liabilities initially expressed in foreign currencies are converted into U.S. dollars at the prevailing exchange rates. Purchases and sales of investment securities, dividend and interest income and certain expenses are translated at the rates of exchange prevailing on the respective dates of such transactions.
	The Fund does not isolate that portion of portfolio security valuation resulting from fluctuations in the foreign currency exchange rates on portfolio securities from the fluctuations arising from changes in the market prices of securities held. Such fluctuations are included with the net realized and unrealized gain or loss on investments in the accompanying financial statements.

12

	Net realized foreign exchange gains or losses arise from sales of foreign currencies and the difference between asset and liability amounts initially stated in foreign currencies and the U.S. dollar value of the amounts actually received or paid. Net unrealized foreign exchange gains or losses arise from changes in the value of other assets and liabilities at the end of the reporting period, resulting from changes in the exchange rates.
d)	Securities Lending — The Fund may lend its securities to certain qualified brokers who pay the Fund negotiated lender fees. The loans are fully collateralized at all times with cash and/or U.S. Government Securities and/or repurchase agreements. The cash collateral is then invested in short-term money market instruments. The repurchase agreements are fully collateralized by U.S. Government Securities. The adequacy of the collateral for securities on loan is monitored on a daily basis. For instances where the market value of collateral falls below the market value of the securities out on loan, such collateral is supplemented on the following business day.
	While securities are on loan, the Fund is subject to the following risks: 1) that the borrower may default on the loan and that the collateral could be inadequate in the event the borrower defaults, 2) that the earnings on the collateral invested may not be sufficient to pay fees incurred in connection with the loan, 3) that the principal value of the collateral invested may decline and may not be sufficient to pay back the borrower for the amount of the collateral posted, 4) that the borrower may use the loaned securities to cover a short sale which may place downward pressure on the market prices of the loaned securities, 5) that return of loaned securities could be delayed and could interfere with portfolio management decisions and 6) that any efforts to recall the securities for purposes of voting a proxy may not be effective. The Fund had no securities out on loan as of April 30, 2009.
e)	Joint Trading Account — Pursuant to an exemptive order issued by the SEC, the Fund may transfer uninvested cash balances into a joint trading account managed by Wellington Management Company, LLP (“Wellington”). These balances may be invested in one or more repurchase agreements and/or short-term money market instruments.
f)	Repurchase Agreements — A repurchase agreement is an agreement by which the seller of a security agrees to repurchase the security sold at a mutually agreed upon time and price. At the time the Fund enters into a repurchase agreement, the value of the underlying collateral security(ies), including accrued interest, will be equal to or exceed the value of the repurchase agreement. Securities that serve to collateralize the repurchase agreement are held by the Fund’s custodian in book entry or physical form in the custodial account of the Fund or in a third party custodial account. Repurchase agreements are valued at cost plus accrued interest. The Fund, as shown on the Schedule of Investments, had outstanding repurchase agreements as of April 30, 2009.
g)	Forward Foreign Currency Contracts — The Fund may enter into forward foreign currency contracts that obligate the Fund to repurchase/replace or sell currencies at specified future dates. Forward foreign currency contracts may be used to hedge against adverse fluctuations in exchange rates between currencies.
	Forward foreign currency contracts involve elements of market risk in excess of the amount reflected in the Statement of Assets and Liabilities. In addition, risks may arise upon entering into these contracts from the potential inability of the counterparties to meet the terms of the contracts and from unanticipated movements in the value of the foreign currencies relative to the U.S. dollar.
h)	Indexed Securities — The Fund may invest in indexed securities whose values are linked to changes in interest rates, indices, or other underlying instruments. The Fund uses these securities to increase or decrease its exposure to different underlying instruments and to gain exposure to markets that might be difficult to invest in using conventional securities. Indexed securities may be more volatile than their underlying instruments, but any loss is limited to the amount of the original investment and there may be a limit to the potential appreciation of the investment. The Fund had investments in indexed securities as of April 30, 2009, as shown on the Schedule of Investments under Exchange Traded Funds.
i)	Fund Share Valuation and Dividend Distributions to Shareholders — Orders for the Fund’s shares are executed in accordance with the investment instructions of the shareholders. The NAV of the Fund’s shares is determined as of the close of each business day of the Exchange. The NAV is determined separately for each class of the Fund by dividing the

13

The Hartford International Opportunities Fund

Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

	Fund’s net assets attributable to that class by the number of shares of the class outstanding. Orders for the purchase of the Fund’s shares prior to the close of the Exchange on any day on which the Exchange is open for business are priced at the NAV determined as of the close of the Exchange. Orders after the close of the Exchange, or on a day on which the Exchange and/or the Fund is not open for business, are priced at the next determined NAV.
	The Fund intends to distribute substantially all of its net investment income and net realized capital gains to shareholders no less frequently than once a year. Normally, dividends from net investment income are declared and paid annually. Dividends are paid on shares beginning on the business day after the day when the funds used to purchase the shares are collected by the transfer agent for the Fund. Unless shareholders specify otherwise, all dividends will be automatically reinvested in additional full or fractional shares of the Fund.
	Distributions from net investment income, realized capital gains and capital are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP with respect to character and timing. These differences include but are not limited to foreign currency gains and losses, losses deferred due to wash sales adjustments, adjustments related to Passive Foreign Investment Companies and certain derivatives, and excise tax regulations. Permanent book and federal income tax basis differences relating to shareholder distributions will result in reclassifications to certain of the Fund’s capital accounts (see Federal Income Taxes: Reclassification of Capital Accounts footnote).
j)	Illiquid and Restricted Securities — The Fund is permitted to invest up to 15% of its net assets in illiquid securities. “Illiquid Securities” are those that may not be sold or disposed of in the ordinary course of business within seven days, at approximately the price used to determine the Fund’s NAV. The Fund may not be able to sell illiquid securities or other investments when its sub-adviser considers it desirable to do so or may have to sell such securities or investments at a price that is lower than the price that could be obtained if the securities or investments were more liquid. A sale of illiquid securities or other investments may require more time and may result in higher dealer discounts and other selling expenses than does the sale of those that are liquid. Illiquid securities and investments also may be more difficult to value, due to the unavailability of reliable market quotations for such securities or investments, and investment in them may have an adverse impact on the Fund’s NAV. The Fund may also purchase certain restricted securities, commonly known as Rule 144A securities, that can be resold to institutions and which may be determined to be liquid pursuant to policies and guidelines established by the Fund’s Board of Directors. The Fund, as shown in the Schedule of Investments, had illiquid or restricted securities as of April 30, 2009.
k)	Securities Purchased on a When-Issued or Delayed-Delivery Basis — Delivery and payment for securities that have been purchased by the Fund on a forward commitment, or when-issued or delayed-delivery basis take place beyond the customary settlement period. During this period, such securities are subject to market fluctuations, and the Fund identifies securities segregated in its records with value at least equal to the amount of the commitment. As of April 30, 2009, the Fund had entered into outstanding when-issued or forward commitments with a cost of $2,899.
l)	Use of Estimates — The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and the reported amounts of income and expenses during the period. Operating results in the future could vary from the amounts derived from management’s estimates.
m)	Financial Accounting Standards Board Financial Accounting Standards No. 157 — Effective November 1, 2008, the Fund adopted Financial Accounting Standards Board (“FASB”) Statement of Financial Accounting Standards No. 157, “Fair Value Measurements” (“FAS 157”). This standard clarifies the definition of fair value for financial reporting, establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements. Fair value is defined under FAS 157 as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Under FAS 157, a fair value measurement should reflect all of the assumptions that market participants would use in pricing the asset or liability, including assumptions

14

about the risk inherent in a particular valuation technique, the effect of a restriction on the sale or use of an asset, and the risk of nonperformance.

Various inputs are used in determining the value of the Fund’s investment. These inputs are summarized, per FAS 157, into three broad hierarchy levels. This hierarchy is based on whether the valuation inputs are observable or unobservable. These levels are:

• Level 1 — Quoted prices in active markets for identical securities. Level 1 includes exchange-traded instruments such as domestic equities, some foreign equities, options, futures, mutual funds, ETF’s, and rights and warrants.

• Level 2 — Observable inputs other than Level 1 prices, such as quoted prices for similar securities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the security. Level 2 includes debt securities that are traded less frequently than exchange-traded instruments and that are valued using third party pricing services and foreign equities, whose value is determined using a multi-factor regression model with inputs that are observable in the market; and money market instruments, which are carried at amortized cost.

• Level 3 — Significant unobservable inputs that are supported by little or no market activity. Level 3 includes financial instruments whose values are determined using broker quotes and require significant management judgment or estimation. This category includes broker quoted securities, long dated OTC options and securities where trading has been halted or there are certain restrictions on trading. While these securities are priced using unobservable inputs, the valuation of these securities reflects the best available data and management believes the prices are a good representation of exit price.

	Individual securities within any of the above mentioned asset classes may be assigned a different hierarchical level than those presented above, as individual circumstances dictate.
	FAS 157 also requires that a roll forward reconciliation be shown for all Level 3 securities from the beginning of the reporting period to the end of the reporting period. Part of this reconciliation includes transfers in and/or out of Level 3. For purposes of this reconciliation, transfers in are shown at the end of period fair value and transfers out are shown at the beginning of period fair value. During the six-month period ended April 30, 2009, the Fund held no Level 3 securities.
	Refer to the valuation hierarchy levels summary found following the Schedule of Investments.
	FASB Staff Position No. 157-4 — In April 2009, FASB released FASB Staff Position No. 157-4, “Determining Fair Value When the Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly” (“FSP FAS 157-4”). FSP FAS 157-4 provides additional guidance on determining whether a market for a financial asset is not active and a transaction is not distressed when measuring fair value under FAS 157. The FSP also requires additional disclosure detail on debt and equity securities by major investment categories. FSP FAS 157-4 is effective for interim and annual periods ending after June 15, 2009. At this time, management is evaluating the implications of FSP FAS 157-4 and does not believe it will impact valuation but will require additional disclosure. This additional disclosure has not yet been implemented.
n)	Financial Accounting Standards Board Financial Accounting Standards No. 161 — In March 2008, the FASB released Statement of Financial Accounting Standards No. 161, “Disclosures about Derivative Instruments and Hedging Activities” (“FAS 161”). FAS 161 requires companies to disclose information detailing the objectives and strategies for using derivative instruments, the level of derivative activity entered into by the company and any credit risk-related contingent features of the agreements. The application of FAS 161 is required for fiscal years and interim periods beginning after November 15, 2008. At this time, management is evaluating the implications of FAS 161 and has not yet implemented the new disclosure standard.
o)	Indemnifications: Under the Company’s organizational documents, the Company shall indemnify its officers and directors to the full extent required or permitted under Maryland General Corporation Law and the federal securities law.

15

The Hartford International Opportunities Fund

Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

In addition, the Company, on behalf of the Fund, may enter into contracts that contain a variety of indemnifications. The Company’s maximum exposure under these arrangements is unknown. However, the Company has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote.

3. Federal Income Taxes:

a)

Federal Income Taxes — For federal income tax purposes, the Fund intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code (“IRC”) by distributing substantially all of its taxable net investment income and net realized capital gains to its shareholders and otherwise complying with the requirements of regulated investment companies. The Fund has distributed substantially all of its income and capital gains in prior years and the Fund intends to distribute substantially all of its income and gains during the calendar year ending December 31, 2009. Accordingly, no provision for federal income or excise taxes has been made in the accompanying financial statements. Distributions from short-term capital gains are treated as ordinary income distributions for federal income tax purposes.

b)

The tax character of distributions paid by the Fund for the periods indicated is as follows (as adjusted for dividends payable):

	For the Year Ended		For the Year Ended
	October 31, 2008		October 31, 2007
Ordinary Income	$	37,332	$	1,675
Long-Term Capital Gains *		29,223		7,575

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

As of October 31, 2008, the Fund’s components of distributable earnings (deficit) on a tax basis were as follows:

	Amount
Undistributed Ordinary Income	$	5,534
Accumulated Capital Losses*	$	(42,925	)
Unrealized Depreciation†	$	(99,741	)
Total Accumulated Deficit	$	(137,132	)

*	The Fund has capital loss carryforwards that are identified in the Capital Loss Carryforward note that follows.
†	The differences between book-basis and tax-basis unrealized appreciation (depreciation) are attributable to the tax deferral of wash sales losses, the mark-to-market adjustment for certain derivatives in accordance with IRC Sec. 1256, the mark to market for Passive Foreign Investment Companies and basis differences in real estate investment trusts.

c) Reclassification of Capital Accounts — In accordance with American Institute of Certified Public Accountants (AICPA) Statement of Position 93-2, Determination, Disclosure, and Financial Statement Presentation of Income, Capital Gain, and Return of Capital Distributions by Investment Companies, the Fund has recorded reclassifications in its capital accounts. These reclassifications had no impact on the NAV of the Fund. The reclassifications are a result of permanent differences between GAAP and tax accounting for such items as net operating losses that reduce distribution requirements. Adjustments are made to reflect the impact these items have on current and future distributions to shareholders. Therefore, the source of the Fund’s distributions may be shown in the accompanying Statement of Changes in Net Assets as from net investment income, from net realized gains on investments or from capital depending on the type of book and tax differences that exist. As of October 31, 2008, the Fund recorded reclassifications to increase undistributed net investment income by $754, increase accumulated net realized gain by $207, and decrease paid in capital by $961.

16

d) Capital Loss Carryforward — At October 31, 2008 (tax-year-end), the Fund had capital loss carryforwards for U.S. federal income tax purposes of approximately:

Year	Amount
2009	$	511
2016		42,414
Total	$	42,925

Based on certain provisions in the Internal Revenue Code, various limitations regarding the future utilization of the Fund carryforwards may apply. As of October 31, 2008, the Fund had $959 in expired capital loss carryforwards.

e)

Financial Accounting Standards Board Interpretation No. 48 — On July 13, 2006, the FASB released FASB Interpretation No. 48 “Accounting for Uncertainty in Income Taxes” (“FIN 48”). FIN 48 provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. The Fund adopted FIN 48 for fiscal years beginning after December 15, 2006. Management has evaluated the implications of FIN 48 for all open tax years (tax years ended October 31, 2006 — 2008) and has determined there is no impact to the Fund’s financial statements.

4. Expenses:

a)

Investment Management Agreements — Hartford Investment Financial Services, LLC (“HIFSCO”) serves as investment manager to the Fund pursuant to an Investment Management Agreement with The Hartford Mutual Funds, Inc. As investment manager, HIFSCO has overall investment supervisory responsibility for the Fund. In addition, HIFSCO provides administrative personnel, services, equipment, facilities and office space for proper operation of the Fund. HIFSCO has contracted with Wellington for the provision of day-to-day investment management services to the Fund in accordance with the Fund’s investment objective and policies. The Fund pays a fee to HIFSCO, a portion of which may be used to compensate Wellington.

The schedule below reflects the rates of compensation paid to HIFSCO for investment management services rendered during the six-month period ended April 30, 2009; the rates are accrued daily and paid monthly:

Average Daily Net Assets	Annual Fee
On first $500 million		0.8500	%
On next $500 million		0.7500	%
On next $4 billion		0.7000	%
On next $5 billion		0.6975	%
Over $10 billion		0.6950	%

b) Accounting Services Agreement — Pursuant to the Fund Accounting Agreement between Hartford Life Insurance Company (“HLIC”) and the Fund, HLIC provides accounting services to the Fund and receives monthly compensation on the Fund’s average net assets. The Fund’s accounting service fees are accrued daily and paid monthly.

Average Daily Net Assets	Annual Fee
On first $5 billion		0.018	%
On next $5 billion		0.016	%
Over $10 billion		0.014	%

17

The Hartford International Opportunities Fund

Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

c) Operating Expenses — Allocable expenses incurred by the Company are allocated to each Fund and allocated to classes within the Fund in proportion to the average daily net assets of the Fund and each class, except where allocation of certain expenses is more fairly made directly to the Fund or to specific classes within a Fund. During the six-month period ended April 30, 2009, HIFSCO has contractually limited the total operating expenses of this Fund, exclusive of taxes, interest expense, brokerage commissions, certain distribution expenses and extraordinary expenses as follows:

Class A	Class B	Class C	Class I	Class R3	Class R4	Class R5	Class Y
1.57%	2.32%	2.32%	1.32%	1.82%	1.52%	1.22%	1.22%

d)

Fees Paid Indirectly — The Fund has entered into agreements with State Street Global Markets, LLC and Russell Implementation Services Inc. to partially recapture non-discounted trade commissions. Such rebates are used to pay a portion of the Fund’s expenses. In addition, the Fund’s custodian bank has also agreed to reduce its fees when the Fund maintains cash on deposit in the non-interest-bearing custody account. For the six-month period ended April 30, 2009, these amounts are included in the Statement of Operations.

The ratio of expenses to average net assets in the accompanying financial highlights excludes the reduction in expenses related to fees paid indirectly. Had the fees paid indirectly been included, the annualized expense ratio for the periods listed below would have been as follows:

	Annualized
	Six-Month
	Period			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended
	Ended April 30,			October 31,			October 31,			October 31,			October 31,			October 31,
	2009			2008			2007			2006			2005			2004
Class A Shares		1.36	%		1.47	%		1.49	%		1.54	%		1.52	%		1.60	%
Class B Shares		1.72			2.11			2.18			2.12			2.30			2.30
Class C Shares		2.18			2.20			2.21			2.30			2.30			2.30
Class I Shares		1.11			1.00	*
Class R3 Shares		1.82			1.79			1.71	†
Class R4 Shares		1.41	��		1.51			1.40	‡
Class R5 Shares		1.22			1.10			1.11	§
Class Y Shares		1.00			0.94			0.95			0.99			1.01			1.03

*	From May 30, 2008 (commencement of operations), through October 31, 2008
†	From December 22, 2006 (commencement of operations), through October 31, 2007
‡	From December 22, 2006 (commencement of operations), through October 31, 2007
§	From December 22, 2006 (commencement of operations), through October 31, 2007

e)

Distribution and Service Plan for Class A, B, C, R3 and R4 Shares — HIFSCO is the principal underwriter and distributor of the Fund. HIFSCO is engaged in distribution activities, which include marketing and distribution of shares through broker-dealers, financing distribution costs and maintaining financial books and records. For the six-month period ended April 30, 2009, HIFSCO received front-end load sales charges of $191 and contingent deferred sales charges of $29 from the Fund.

The Fund has adopted Distribution and Service Plans in accordance with Rule 12b-1 of the Investment Company Act of 1940, as amended, to compensate the distributor (HIFSCO) for activities intended to result in the sale and distribution of Classes A, B, C, R3 and R4 shares and for providing services for shareholders. The Rule 12b-1 plan applicable to Class A shares of the Funds provides for payment of a Rule 12b-1 fee of up to 0.35% of average daily net assets; however, the Board of Directors has currently authorized 12b-1 payments of only up to 0.25%. Some or all of the fee may be used for shareholder servicing expenses with the remainder used for distribution expenses. Some or the entire Rule 12b-1 fee for Class B shares may be remitted to broker-dealers for distribution and/or shareholder account services. Under the Class B

18

	Plan, the Fund pays the distributor 1.00% of the average daily net assets of Class B shares that are outstanding for 8 years or less, 0.25% of which is a fee for services provided to existing shareholders with the remainder used for distribution expenses. After eight years, Class B shares convert to Class A shares. Upon conversion to Class A shares, the Class A plan described above will apply to those shares. Under the Class C Plan, the Fund pays the distributor 1.00% of the average daily net assets of Class C shares outstanding, 0.25% of which is intended as a fee for services provided to existing shareholders with the remainder used for distribution expenses. For Class C shares, some or the entire fee may be remitted to broker-dealers for distribution and/or shareholder account services. Class R3 shares have a distribution fee of 0.50% and Class R4 shares have a distribution fee of 0.25%. For Classes R3 and R4 shares, some or the entire fee may be remitted to broker dealers for distribution and/or shareholder account services. The Fund’s 12b-1 fees are accrued daily and paid monthly.
	For the six-month period ended April 30, 2009, total sales commissions paid to affiliated brokers/dealers of The Hartford for distributing the Fund’s shares were $18. These commissions are in turn paid to sales representatives of the broker/dealers.
f)	Other Related Party Transactions — Certain officers of the Fund are directors and/or officers of HIFSCO and/or The Hartford or its subsidiaries. For the six-month period ended April 30, 2009, a portion of the Fund’s chief compliance officer’s salary was paid by the Fund in an amount, which rounds to zero. Hartford Administrative Services Company (“HASCO”), an indirect wholly owned subsidiary of The Hartford, provides transfer agent services to the Fund. HASCO was compensated $280 for providing such services. These fees are accrued daily and paid monthly.
g)	Payments from Affiliate:
	The total return in the accompanying financial highlights includes payment from affiliates. Had the payment from affiliates been excluded, the total return for the periods listed below would have been as follows:

	Impact from			Total Return
	Payment from			Excluding
	Affiliate for SEC			Payment from
	Settlement for the			Affiliate for the
	Year Ended			Year Ended
	October 31, 2007			October 31, 2007
Class A		0.01	%		39.14	%
Class B		0.01			38.16
Class C		0.01			38.16
Class Y		0.01			39.90

5.	Affiliate Holdings:
	As of April 30, 2009, affiliates of The Hartford had ownership of shares in the Fund as follows:

	Shares
Class I		6
Class R3		1
Class R5		1

19

The Hartford International Opportunities Fund

Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

6.	Investment Transactions:
	For the six-month period ended April 30, 2009, the Fund’s aggregate purchases and sales of investment securities (excluding short-term investments) were as follows:

	Amount
Cost of Purchases Excluding U.S. Government Obligations	$	242,900
Sales Proceeds Excluding U.S. Government Obligations		223,963

7.	Capital Share Transactions:
	The following information is for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	For the Six-Month Period Ended April 30, 2009												For the Year Ended October 31, 2008
			Shares					Shares							Shares					Shares
			Issued for					Issued		Net Increase					Issued for					Issued		Net Increase
	Shares		Reinvested		Shares			from		(Decrease) of			Shares		Reinvested		Shares			from		(Decrease) of
	Sold		Dividends		Redeemed			Merger		Shares			Sold		Dividends		Redeemed			Merger		Shares
Class A
Shares		1,604		330		(3,182	)		—		(1,248	)		6,013		1,986		(4,290	)		—		3,709
Amount	$	15,072	$	3,193	$	(28,914	)	$	—	$	(10,649	)	$	95,937	$	35,697	$	(62,032	)	$	—	$	69,602
Class B
Shares		134		26		(404	)		—		(244	)		565		345		(940	)		—		(30	)
Amount	$	1,143	$	232	$	(3,357	)	$	—	$	(1,982	)	$	8,474	$	5,720	$	(13,207	)	$	—	$	987
Class C
Shares		398		37		(540	)		—		(105	)		1,390		283		(658	)		—		1,015
Amount	$	3,374	$	326	$	(4,466	)	$	—	$	(766	)	$	20,809	$	4,645	$	(8,649	)	$	—	$	16,805
Class I
Shares		8		1		(3	)		—		6			14		—		—			—		14
Amount	$	81	$	6	$	(24	)	$	—	$	63		$	207	$	—	$	—		$	—	$	207
Class R3
Shares		16		1		(2	)		—		15			6		—		—			—		6
Amount	$	160	$	4	$	(22	)	$	—	$	142		$	85	$	4	$	—		$	—	$	89
Class R4
Shares		40		3		(15	)		—		28			96		—		(2	)		—		94
Amount	$	401	$	29	$	(131	)	$	—	$	299		$	994	$	2	$	(21	)	$	—	$	975
Class R5
Shares		—		—		—			—		—			—		—		—			—		—
Amount	$	5	$	—	$	—		$	—	$	5		$	5	$	2	$	—		$	—	$	7
Class Y
Shares		2,994		269		(160	)		—		3,103			1,549		1,024		(1,498	)		—		1,075
Amount	$	28,112	$	2,686	$	(1,590	)	$	—	$	29,208		$	23,674	$	19,072	$	(18,963	)	$	—	$	23,783

The following reflects the conversion of Class B Shares into Class A Shares (reflected as Class A Shares issued and Class B shares redeemed) for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	Shares		Dollars
For the Six-Month Period Ended April 30, 2009		98	$	886
For the Year Ended October 31, 2008		327	$	5,270

20

8.	Line of Credit:
	The Fund is one of several Hartford Funds that participate in a $500 million committed revolving line of credit facility. The facility is to be used for temporary or emergency purposes. Under the arrangement, the Fund is required to own securities having a market value in excess of 300% of the total bank borrowings. The interest rate on borrowings varies depending on the nature of the loan. The facility also requires a fee to be paid based on the amount of the commitment. During the six-month period ended April 30, 2009, the Fund did not have any borrowings under this facility.
9.	Industry Classifications:
	Other than the industry classifications “Other Investment Pools and Funds” and “Exchange Traded Funds”, equity industry classifications used in this report are the Global Industry Classification Standard, which was developed by and is the exclusive property and service mark of MSCI, Inc. and Standard & Poor’s.

21

The Hartford International Opportunities Fund

Financial Highlights — (Unaudited)

	- Selected Per-Share Data - (a)																													- Ratios and Supplemental Data -
																																				Ratio of			Ratio of			Ratio of
																																				Expenses			Expenses			Expenses
																																				to Average			to Average			to Average
																																				Net Assets			Net Assets			Net Assets
																																				Before			After			After
								Net																												Waivers			Waivers			Waivers
								Realized																												and			and			and
								and Un-									Distrib-								Net											Reimburse-			Reimburse-			Reimburse-			Ratio of
			Net			Pay-		realized						Dividends			utions								Increase			Net								ments and			ments and			ments and			Net Invest-			Port-
	Net Asset		Invest-			ments		Gain						from Net			from			Distri-					(Decrease)			Asset						Net Assets		Including			Including			Excluding			ment			folio
	Value at		ment			from		(Loss) on			Total from			Invest-			Realized			butions		Total			in Net			Value at						at End of		Expenses			Expenses			Expenses			Income to			Turn-
	Beginning		Income			(to)		Invest-			Investment			ment			Capital			from		Distri-			Asset			End of			Total			Period		not Subject			not Subject			not Subject			Average			over
Class	of Period		(Loss)			Affiliate		ments			Operations			Income			Gains			Capital		butions			Value			Period			Return(b)			(000’s)		to Cap(c)			to Cap(c)			to Cap(c)			Net Assets			Rate(d)
For the Six-Month Period Ended April 30, 2009 (Unaudited) (e)
A	$	10.23	$	0.10		$	—	$	(0.27	)	$	(0.17	)	$	(0.24	)	$	—		$	—	$	(0.24	)	$	(0.41	)	$	9.82			(1.68)	%(f)	$	132,921		1.75	%(g)		1.37	%(g)		1.37	%(g)		2.11	%(g)		93	%
B		9.40		0.07			—		(0.24	)		(0.17	)		(0.14	)		—			—		(0.14	)		(0.31	)		9.09			(1.81	) (f)		14,285		2.88	(g)		1.72	(g)		1.72	(g)		1.71	(g)		—
C		9.29		0.06			—		(0.24	)		(0.18	)		(0.15	)		—			—		(0.15	)		(0.33	)		8.96			(1.97	) (f)		21,954		2.43	(g)		2.18	(g)		2.18	(g)		1.33	(g)		—
I		10.25		0.12			—		(0.28	)		(0.16	)		(0.31	)		—			—		(0.31	)		(0.47	)		9.78			(1.49	) (f)		196		1.11	(g)		1.11	(g)		1.11	(g)		2.54	(g)		—
R3		10.51		0.10			—		(0.30	)		(0.20	)		(0.27	)		—			—		(0.27	)		(0.47	)		10.04			(1.83	) (f)		217		2.00	(g)		1.82	(g)		1.82	(g)		2.16	(g)		—
R4		10.58		0.11			—		(0.29	)		(0.18	)		(0.30	)		—			—		(0.30	)		(0.48	)		10.10			(1.63	) (f)		1,243		1.41	(g)		1.41	(g)		1.41	(g)		2.22	(g)		—
R5		10.60		0.12			—		(0.29	)		(0.17	)		(0.30	)		—			—		(0.30	)		(0.47	)		10.13			(1.60	) (f)		15		1.39	(g)		1.23	(g)		1.23	(g)		2.57	(g)		—
Y		10.62		0.13			—		(0.29	)		(0.16	)		(0.31	)		—			—		(0.31	)		(0.47	)		10.15			(1.42	) (f)		99,860		1.00	(g)		1.00	(g)		1.00	(g)		2.68	(g)		—
For the Year Ended October 31, 2008 (e)
A		21.79		0.19			—		(8.49	)		(8.30	)		(0.06	)		(3.20	)		—		(3.26	)		(11.56	)		10.23			(44.50	)		151,147		1.47			1.47			1.47			1.23			150
B		20.34		0.07			—		(7.81	)		(7.74	)		—			(3.20	)		—		(3.20	)		(10.94	)		9.40			(44.86	)		17,068		2.45			2.11			2.11			0.50			—
C		20.16		0.08			—		(7.75	)		(7.67	)		—			(3.20	)		—		(3.20	)		(10.87	)		9.29			(44.92	)		23,743		2.20			2.20			2.20			0.54			—
I(h)		17.53		0.06			—		(7.34	)		(7.28	)		—			—			—		—			(7.28	)		10.25			(41.53	) (f)		143		1.00	(g)		1.00	(g)		1.00	(g)		1.19	(g)		—
R3		22.33		0.18			—		(8.77	)		(8.59	)		(0.03	)		(3.20	)		—		(3.23	)		(11.82	)		10.51			(44.70	)		74		1.99			1.79			1.79			1.13			—
R4		22.39		0.05			—		(8.59	)		(8.54	)		(0.07	)		(3.20	)		—		(3.27	)		(11.81	)		10.58			(44.39	)		1,003		1.52			1.52			1.52			0.54			—
R5		22.45		0.25			—		(8.78	)		(8.53	)		(0.12	)		(3.20	)		—		(3.32	)		(11.85	)		10.60			(44.32	)		10		1.10			1.10			1.10			1.57			—
Y		22.48		0.29			—		(8.81	)		(8.52	)		(0.14	)		(3.20	)		—		(3.34	)		(11.86	)		10.62			(44.22	)		71,555		0.94			0.94			0.94			1.74			—
For the Year Ended October 31, 2007
A		16.13		0.05			—		6.10			6.15			(0.06	)		(0.43	)		—		(0.49	)		5.66			21.79			39.15	(i)		241,239		1.49			1.49			1.49			0.31			147
B		15.14		(0.07	)		—		5.70			5.63			—			(0.43	)		—		(0.43	)		5.20			20.34			38.17	(i)		37,545		2.46			2.18			2.18			(0.39	)		—
C		15.01		(0.07	)		—		5.65			5.58			—			(0.43	)		—		(0.43	)		5.15			20.16			38.17	(i)		31,076		2.21			2.21			2.21			(0.42	)		—
R3(j)		17.07		0.06			—		5.20			5.26			—			—			—		—			5.26			22.33			30.81	(f)		28		1.71	(g)		1.71	(g)		1.71	(g)		0.40	(g)		—
R4(k)		17.07		0.09			—		5.23			5.32			—			—			—		—			5.32			22.39			31.17	(f)		13		1.41	(g)		1.41	(g)		1.41	(g)		0.53	(g)		—
R5(l)		17.07		0.13			—		5.25			5.38			—			—			—		—			5.38			22.45			31.52	(f)		13		1.11	(g)		1.11	(g)		1.11	(g)		0.83	(g)		—
Y		16.67		0.05			—		6.39			6.44			(0.20	)		(0.43	)		—		(0.63	)		5.81			22.48			39.91	(i)		127,314		0.95			0.95			0.95			0.84			—
For the Year Ended October 31, 2006 (e)
A		13.13		0.13			—		2.92			3.05			(0.05	)		—			—		(0.05	)		3.00			16.13			23.25			159,087		1.61			1.57			1.57			0.84			102
B		12.35		0.03			—		2.76			2.79			—			—			—		—			2.79			15.14			22.59			29,125		2.56			2.15			2.15			0.24			—
C		12.27		0.01			—		2.73			2.74			—			—			—		—			2.74			15.01			22.33			20,782		2.33			2.33			2.33			0.06			—
Y		13.55		0.25			—		2.98			3.23			(0.11	)		—			—		(0.11	)		3.12			16.67			24.00			43,994		1.02			1.02			1.02			1.56			—
For the Year Ended October 31, 2005
A		11.22		0.05			—		1.86			1.91			—			—			—		—			1.91			13.13			17.02			102,393		1.72			1.57			1.57			0.42			119
B		10.64		(0.04	)		—		1.75			1.71			—			—			—		—			1.71			12.35			16.07			23,940		2.68			2.35			2.35			(0.36	)		—
C		10.57		(0.04	)		—		1.74			1.70			—			—			—		—			1.70			12.27			16.08			16,896		2.42			2.35			2.35			(0.37	)		—
Y		11.53		0.12			—		1.90			2.02			—			—			—		—			2.02			13.55			17.52			5,612		1.05			1.05			1.05			0.94			—
For the Year Ended October 31, 2004
A		9.66		0.03			—		1.54			1.57			(0.01	)		—			—		(0.01	)		1.56			11.22			16.20			87,348		1.83			1.65			1.65			0.33			143
B		9.22		(0.05	)		—		1.47			1.42			—			—			—		—			1.42			10.64			15.40			23,301		2.77			2.35			2.35			(0.39	)		—
C		9.16		(0.05	)		—		1.46			1.41			—			—			—		—			1.41			10.57			15.39			15,749		2.48			2.35			2.35			(0.38	)		—
Y		9.91		0.11			—		1.56			1.67			(0.05	)		—			—		(0.05	)		1.62			11.53			16.87			4,288		1.09			1.08			1.08			0.82			—

(a)	Information presented relates to a share outstanding throughout the indicated period.
(b)	Assumes initial investment at net asset value at the beginning of each period, reinvestment of all distributions, the complete redemption of the investment at net asset value at the end of each period and no sales charge. Total return would be reduced if sales charges were taken into account.
(c)	Ratios do not include fees paid indirectly (See Expenses in the accompanying Notes to Financial Statements).
(d)	Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between the classes of shares issued.
(e)	Per share amounts have been calculated using average shares outstanding method.
(f)	Not annualized.
(g)	Annualized.
(h)	Commenced operations on May 30, 2008.
(i)	Total return without the inclusion of the Payments from (to) Affiliate, as noted on the Statement of Operations, can be found in Expenses in the accompanying Notes to Financial Statements.
(j)	Commenced operations on December 22, 2006.
(k)	Commenced operations on December 22, 2006.
(l)	Commenced operations on December 22, 2006.

22

The Hartford International Opportunities Fund

Directors and Officers (Unaudited)

The Board of Directors appoints officers who are responsible for the day-to-day operations of the Fund and who execute policies formulated by the Directors. Each director serves until his or her death, resignation, or retirement or until the next annual meeting of shareholders is held or until his or her successor is elected and qualifies.

Directors and officers who are employed by or who have a financial interest in The Hartford are considered “interested” persons of the Fund pursuant to the Investment Company Act of 1940, as amended. Each officer and three of the Fund’s directors, as noted in the chart below, are “interested” persons of the Fund. Each director serves as a director for The Hartford Mutual Funds, Inc., The Hartford Mutual Funds II, Inc., The Hartford Income Shares Fund, Inc., Hartford Series Fund, Inc., and Hartford HLS Series Fund II, Inc., which collectively consist of 100 funds. Correspondence may be sent to directors and officers c/o Hartford Mutual Funds, P.O. Box 2999, Hartford, Connecticut 06104-2999, except that correspondence to Ms. Fagely may be sent to 500 Bielenberg Drive, Woodbury, Minnesota 55125.

The table below sets forth, for each director and officer, his or her name, year of birth, current position with the Fund and date first elected or appointed to The Hartford Mutual Funds, Inc. (“MF”) and The Hartford Mutual Funds II, Inc. (“MF2”), principal occupation, and, for directors, other directorships held. The Fund’s statement of additional information contains further information on the directors and is available free of charge by calling 1-888-843-7824 or writing to Hartford Mutual Funds, P.O. Box 64387, St. Paul, MN 55164-0387.

Information on the aggregate remuneration paid to the directors of the Fund can be found in the Statement of Operations herein. The Fund pays a portion of the Chief Compliance Officer’s compensation, but does not pay salaries or compensation to any of its officers or directors who are employed by The Hartford.

Non-Interested Directors

Lynn S. Birdsong (1946) Director since 2003, Co-Chairman of the Investment Committee

Mr. Birdsong is a private investor. Since 1981, Mr. Birdsong has been a partner in Birdsong Company, an advertising specialty firm. Since 2003, Mr. Birdsong has been an independent director of The Japan Fund. From 2003 to March 2005, Mr. Birdsong was an independent director of the Atlantic Whitehall Funds. From 1979 to 2002, Mr. Birdsong was a managing director of Zurich Scudder Investments, an investment management firm. During his employment with Scudder, Mr. Birdsong was an interested director of The Japan Fund.

Robert M. Gavin, Jr. (1940) Director since 2002 (MF) and 1986 (MF2), Chairman of the Board since 2004

Dr. Gavin is an educational consultant. Prior to September 1, 2001, he was President of Cranbrook Education Community and prior to July 1996, he was President of Macalester College, St. Paul, Minnesota.

Duane E. Hill (1945) Director since 2001 (MF) and 2002 (MF2), Chairman of the Nominating Committee

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

Sandra S. Jaffee (1941) Director since 2005

Ms. Jaffee is Chairman and Chief Executive Officer of Fortent (formerly Searchspace Group), a leading provider of compliance/regulatory technology to financial institutions. Ms. Jaffee served as an Entrepreneur in Residence with Warburg Pincus, a private equity firm, from August 2004 to August 2005. From September 1995 to July 2004, Ms. Jaffee served as Executive Vice President at Citigroup, where she was President and Chief Executive Officer of Citibank’s Global Securities Services (1995-2003).

William P. Johnston (1944) Director since 2005, Chairman of the Compliance Committee

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

23

The Hartford International Opportunities Fund

Directors and Officers (Unaudited) — (continued)

Phillip O. Peterson (1944) Director since 2002 (MF) and 2000 (MF2), Chairman of the Audit Committee

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

Lemma W. Senbet (1946) Director since 2005

Dr. Senbet is the William E. Mayer Chair Professor of Finance at the University of Maryland, Robert H. Smith School of Business. He was chair of the Finance Department during 1998-2006. Previously he was an endowed professor of finance at the University of Wisconsin-Madison. Also, he was director of the Fortis Funds from March 2000-July 2002. Dr. Senbet served the finance profession in various capacities, including as director of the American Finance Association and President of the Western Finance Association. In 2006, Dr. Senbet was inducted Fellow of Financial Management Association International for his career-long distinguished scholarship and professional service.

Interested Directors and Officers

Thomas M. Marra* (1958) Director since 2002

Mr. Marra has served as President and Chief Operating Officer of The Hartford Financial Services Group, Inc. (“The Hartford”) since 2007. Mr. Marra currently serves as Director of Hartford Life, Inc. (“HL, Inc.”). Mr. Marra served as Chief Operating Officer of Hartford Life Insurance Company, Inc. (“Hartford Life”) (2000-2008), as President of Hartford Life (2002-2008) and as Director of Hartford Life’s Investment Products Division from 1998 to 2000.

* On February 24, 2009, The Hartford and Mr. Marra determined to enter into a mutually agreed separation whereby Mr. Marra will retire, and his role as an executive officer and employee of The Hartford will terminate, effective July 3, 2009. Mr. Marra will resign his position as a Director of the Fund effective June 25, 2009.

Lowndes A. Smith (1939) Director since 2002, Co-Chairman of the Investment Committee

Mr. Smith served as Vice Chairman of The Hartford from February 1997 to January 2002, as President and Chief Executive Officer of Hartford Life, Inc. from February 1997 to January 2002, and as President and Chief Operating Officer of The Hartford Life Insurance Companies from January 1989 to January 2002. Mr. Smith serves as a Director of White Mountains Insurance Group, Ltd., One Beacon Insurance, Symetra Financial and as a Managing Director of Whittington Gray Associates.

John C. Walters* (1962) Director since 2008

Mr. Walters currently serves as Chief Executive Officer, President and Director of HL, Inc. Mr. Walters previously served as President of the U.S. Wealth Management Division of Hartford Life, Inc., as Co-Chief Operating Officer of Hartford Life Insurance Company (2007-2008) and as Executive Vice President and Director of its Investment Products Division (2000-2008). Mr. Walters also serves as Chairman of the Board, Chief Executive Officer, President and Director of Hartford Life Insurance Company and as Executive Vice President of The Hartford. In addition, Mr. Walters is Manager of HL Investment Advisors, LLC (“HL Advisors”).

* Mr. Walters previously served as President and Chief Executive Officer of the Fund (2007 — 2009).

Other Officers

Robert M. Arena, Jr. (1968) President and Chief Executive Officer since 2009 (served as Vice President of the Fund (2006 — 2009)) Mr. Arena serves as Executive Vice President of Hartford Life Insurance Company, (“Hartford Life”). Additionally, Mr. Arena is Director and Senior Vice President of Hartford Administrative Services Company, (“HASCO”), Manager, Chief Executive Officer and President of Hartford Investment Financial Services, LLC (“HIFSCO”) and HL Advisors. Prior to joining The Hartford in 2004, he was Senior Vice President in charge of Product Management for American Skandia/Prudential in the individual annuities division. Mr. Arena joined American Skandia in 1996.

Tamara L. Fagely (1958) Vice President, Treasurer and Controller since 2002 (MF) 1993 (MF2)

Ms. Fagely has been a Vice President of HASCO since 1998 and Chief Financial Officer since 2006. Currently Ms. Fagely is a Vice President of Hartford Life. She served as Assistant Vice President of Hartford Life from December 2001 through March 2005. In addition, Ms. Fagely is Controller and Chief Financial Officer of HIFSCO.

Brian Ferrell (1962) AML Compliance Officer since 2008

Mr. Ferrell has served as Assistant Vice President and AML Compliance Officer for The Hartford since 2006 and as AML Compliance Officer for HASCO and Hartford Investor Services Company, LLC (“HISC”) since 2008. Prior to joining The Hartford in 2006, Mr. Ferrell held various positions at the U.S. Department of the Treasury, (the “Treasury”), from 2001 to 2006 where he served as Chief Counsel for the Treasury’s Financial Crimes Enforcement Network, (“FinCEN”) from 2005 — 2006.

24

Thomas D. Jones, III (1965) Vice President and Chief Compliance Officer since 2006

Mr. Jones serves as Chief Compliance Officer for the Hartford Mutual Funds and Vice President and Director of Securities Compliance for The Hartford. He is also Vice President of HIFSCO, HL Advisors, and Hartford Life Insurance Company. Mr. Jones joined The Hartford in 2006 from SEI Investments, where he served as Chief Compliance Officer for its mutual funds and investment advisers. Prior to joining SEI, Mr. Jones was First Vice President and Compliance Director for Merrill Lynch Investment Managers (Americas) (“MLIM”), where he worked from 1992-2004. At MLIM, Mr. Jones was responsible for the compliance oversight of various investment products, including mutual funds, wrap accounts, institutional accounts and alternative investments.

Edward P. Macdonald (1967) Vice President, Secretary and Chief Legal Officer since 2005

Mr. Macdonald serves as Assistant General Counsel and Assistant Vice President of The Hartford and Chief Legal Officer and Vice President of HIFSCO. He also serves as Vice President and Secretary of HASCO, Assistant Vice President of Hartford Life, and Chief Legal Officer, Secretary and Vice President of HL Advisors. Prior to joining The Hartford in 2005, Mr. Macdonald was Chief Counsel, Investment Management for Prudential Financial (formerly American Skandia Investment Services, Inc.). He joined Prudential in April 1999.

Vernon J. Meyer (1964) Vice President since 2006

Mr. Meyer serves as Senior Vice President of Hartford Life and as Director of its Investment Advisory Group in the Individual Markets Group segment. He also serves as Senior Vice President of HIFSCO and HL Advisors. Prior to joining The Hartford in 2004, Mr. Meyer was with MassMutual which he joined in 1987.

D. Keith Sloane (1960) Vice President since 2009

Mr. Sloane is a Senior Vice President of Hartford Life where he serves as Director of mutual fund product management for The Hartford’s mutual funds and 529 college savings businesses. Additionally, Mr. Sloane currently serves as Senior Vice President of HIFSCO, HL Advisors, and HASCO. Prior to joining The Hartford in 2007, Mr. Sloane was Director of product marketing and led the mutual fund business for Wachovia Securities (“Wachovia”) in their investment products group. Mr. Sloane joined Wachovia in 1995.

Jane Wolak (1961) Vice President since 2009

Ms. Wolak currently serves as Vice President of Hartford Life. Ms. Wolak joined Hartford Life as Vice President, Retail Product Services in May 2007. She is also Vice President of HASCO. Previously, Ms. Wolak was with Sun Life Financial where she held the position of Vice President, Service Center Operations from 2001 — 2007.

HOW TO OBTAIN A COPY OF THE FUND’S PROXY VOTING POLICIES AND VOTING RECORDS

A description of the policies and procedures that the Fund uses to determine how to vote proxies relating to portfolio securities and a record of how the Fund voted any proxies for the twelve-month period ended June 30, 2008 is available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov.

QUARTERLY PORTFOLIO HOLDINGS INFORMATION

The Fund files a complete schedule of portfolio holdings with the Commission for the first and third quarters of each fiscal year on Form N-Q. The Fund’s Forms are available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov. The Form N-Q may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330.

25

The Hartford International Opportunities Fund

Expense Example (Unaudited)

Your Fund’s Expenses

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments and contingent deferred sales charges (CDSC) (2) ongoing costs including management fees; distribution fees; and other fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the period of October 31, 2008 through April 30, 2009.

Actual Expenses

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

Hypothetical Example for Comparison Purposes

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

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads) and CDSC. Therefore, the second line 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 are equal to the Fund’s annualized expense ratios multiplied by average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

	Actual return						Hypothetical (5% return before expenses)
					Expenses paid						Expenses paid					Days in
					during the period						during the period					the		Days
	Beginning		Ending Account		October 31,		Beginning		Ending Account		October 31,		Annualized			current		in the
	Account Value		Value		2008 through		Account Value		Value		2008 through		expense			1/2		full
	October 31, 2008		April 30, 2009		April 30, 2009		October 31, 2008		April 30, 2009		April 30, 2009		ratio			year		year
Class A	$	1,000.00	$	983.23	$	6.73	$	1,000.00	$	1,018.00	$	6.85		1.37	%		181		365
Class B	$	1,000.00	$	981.93	$	8.45	$	1,000.00	$	1,016.26	$	8.59		1.72			181		365
Class C	$	1,000.00	$	980.25	$	10.70	$	1,000.00	$	1,013.98	$	10.88		2.18			181		365
Class I	$	1,000.00	$	985.09	$	5.46	$	1,000.00	$	1,019.29	$	5.55		1.11			181		365
Class R3	$	1,000.00	$	981.67	$	8.94	$	1,000.00	$	1,015.76	$	9.09		1.82			181		365
Class R4	$	1,000.00	$	983.66	$	6.93	$	1,000.00	$	1,017.80	$	7.05		1.41			181		365
Class R5	$	1,000.00	$	983.99	$	6.05	$	1,000.00	$	1,018.69	$	6.15		1.23			181		365
Class Y	$	1,000.00	$	985.80	$	4.92	$	1,000.00	$	1,019.83	$	5.00		1.00			181		365

26

The Hartford International Small Company Fund

Table of Contents

Manager Discussions (Unaudited)	2
Financial Statements
Schedule of Investments at April 30, 2009 (Unaudited)	4
Statement of Assets and Liabilities at April 30, 2009 (Unaudited)	7
Statement of Operations for the Six Month Period Ended April 30, 2009 (Unaudited)	8
Statement of Changes in Net Assets for the Six Month Period Ended April 30, 2009 (Unaudited) and the Year Ended October 31, 2008	9
Notes to Financial Statements (Unaudited)	10
Financial Highlights (Unaudited)	19
Directors and Officers (Unaudited)	20
How to Obtain a Copy of the Fund’s Proxy Voting Policies and Proxy Voting Records (Unaudited)	22
Quarterly Portfolio Holdings Information (Unaudited)	22
Expense Example (Unaudited)	23

The Hartford International Small Company Fund

(subadvised by Wellington Management Company, LLP)

Performance Overview(1) 4/30/01 — 4/30/09
Growth of a $10,000 investment in Class A which includes Sales Charge

S&P EPAC SmallCap Index, formerly S&P/Citigroup Europe Pacific Asia Composite (EPAC) Extended Market Index (EMI), is a developed-market equity index representing the bottom 15% of the cumulative available capital, by country, of the S&P EPAC Broad Market Index (BMI). The S&P EPAC BMI captures all companies in developed market countries, as defined by Standard & Poor’s, within Europe and the Asia Pacific region. To meet the eligibility criteria, companies must have float-adjusted market capitalizations of at least US$100 million and a trailing 12 month trading volume of at least US$50 million. Companies are removed if their float-adjusted market capitalization falls below US$75 million or if their trailing 12 month trading volume falls below US$35 million during the annual index reconstitution.

You cannot invest directly in an index.

The value of shares will fluctuate so that, when redeemed, shares may be worth more or less than their original cost. The chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.

Investment objective — Seeks capital appreciation.

Average Annual Total Returns(2,3,4) (as of 4/30/09)

	Inception		1			5			Since
	Date		Year			Year			Inception
International Small Co. A#		4/30/01		-44.38	%		-0.89	%		4.22	%
International Small Co. A##		4/30/01		-47.44	%		-2.01	%		3.48	%
International Small Co. B#		4/30/01		-44.58	%		-1.54	%		3.62	%
International Small Co. B##		4/30/01		-47.35	%		-1.78	%		3.62	%
International Small Co. C#		4/30/01		-44.77	%		-1.62	%		3.46	%
International Small Co. C##		4/30/01		-45.33	%		-1.62	%		3.46	%
International Small Co. I#		4/30/01		-44.21	%		-0.76	%		4.30	%
International Small Co. Y#		4/30/01		-44.11	%		-0.46	%		4.68	%

#	Without sales charge
##	With sales charge

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)	Growth of a $10,000 investment in Classes B, C, I and Y shares will vary from results seen above due to differences in the expenses charged to these share classes.
(2)	The initial investment in Class A shares reflects the maximum sales charge and Classes B and C reflect CDSC.
(3)	Total returns presented above were calculated using the Fund’s net asset value available to shareholders for sale or redemption of Fund shares on April 30, 2009, which excludes investment transactions as of this date.
(4)	Class I shares commenced operations on 5/31/07. Performance prior to 5/31/07 reflects Class A performance.

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

Portfolio Managers
Simon H. Thomas	Daniel Maguire, CFA
Vice President	Vice President

How did the Fund perform?

The Class A shares of The Hartford International Small Company Fund returned 3.49%, before sales charge, for the six-month period ended April 30, 2009, underperforming its benchmark, the S&P EPAC SmallCap Index, which returned 5.90% for the same period. The Fund outperformed the 1.86% return of the average fund in the Lipper International Small/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?

The benchmark’s positive return for the period masks two significantly different market environments. From the beginning of November through early March stocks fell sharply, reflecting deepening economic worries and concerns over the impact of various governments’ increasing involvement in the global economy. From early March through the end of April stocks staged an historic rally as investors came to believe that a Depression-like scenario was less likely. Sector returns within the S&P EPAC SmallCap Index were generally positive over the period, with particular strength in more economically-sensitive areas like Telecommunication Services (16%), Energy (+15%), and Materials (+13%). Traditionally defensive sectors Consumer Staples (-4%) and Utilities (-3%) fell during the period.

The Fund trailed its benchmark primarily due to weak stock selection in the Industrials, Materials, and Financials sectors. These sectors have some of the most levered, most cyclically-exposed stocks in our investment

2

universe. Selection was stronger in Consumer Staples, Energy, and Consumer Discretionary. Allocation among sectors, which is largely a result of the bottom-up (i.e. stock by stock fundamental research) stock selection process, was additive due to an overweight (i.e. the Fund’s sector position was greater than the benchmark position) position in Health Care and an underweight (i.e. the Fund’s sector position was less than the benchmark position) in Financials.

The largest detractors from relative (i.e. performance of the Fund as measured against the benchmark) performance during the period were Spazio Investment (Financials), Aeon Delight (Industrials), and Antichi Pellettieri (Consumer Discretionary). Shares of Spazio Investment, a Dutch-based real estate company focused on Italy’s industrial real estate market, fell as it appeared that demand for their properties would remain muted. Aeon Delight, a provider of real estate maintenance services in Japan, saw its shares fall on concerns over the strength of its parent company’s balance sheet. Italian leather goods provider Antichi Pellettieri was negatively impacted by slumping global consumer demand, pushing its shares lower. Significant absolute (i.e. total return) detractors also included German pharmaceutical company Stada Arzneimittel (Health Care).

Top contributors to relative returns were Karoon Gas Australia (Energy), Shandong Weigao (Health Care), and ElringKlinger (Consumer Discretionary). Shares of Australian energy exploration company Karoon Gas Australia leapt higher on news of a successful gas find off Australia’s west coast. Hong Kong based medical device company Shandong Weigao benefited from a minority investment from Medtronic, boosting its share price. Shares of German automotive component supplier ElringKlinger rose on a stabilization in the company’s business. Top absolute contributors also included Hochtief (Industrials), a Germany-based global construction company.

What is the outlook?

Looking ahead, we see a period of continued heightened volatility across broader markets. Nevertheless, we are seeing a number of attractive opportunities. In some cases, companies that we have found compelling in the past have fallen back into our size universe and are beginning to meet our valuation criteria.

We select stocks in the Fund one at a time based on their individual merits. At the end of the period we were most overweight Health Care and Energy stocks and most underweight Financials and Consumer Discretionary. Within Health Care, we have been focused on the high margin and recurring revenue potential of equipment & service companies, as well as providers of supplies and consumables, and niche, private sector hospital providers. Our Energy overweight is based on the belief that the sector is well positioned to outperform due to compelling supply and demand fundamentals. We continue to be underweight Financials, where we have avoided exposure to European banks. We remain underweight Consumer Discretionary stocks as we believe many are now expensive after significant share price appreciation.

On a regional basis, our greatest underweight position relative to the benchmark at the end of the period was in the U.K. This was offset by overweight positions in Japan and select Emerging Markets.

Diversification by Industry
as of April 30, 2009

	Percentage of
Industry	Net Assets
Automobiles & Components		2.4	%
Banks		1.9
Capital Goods		14.7
Commercial & Professional Services		8.7
Consumer Durables & Apparel		2.4
Consumer Services		2.3
Diversified Financials		3.2
Energy		7.9
Food & Staples Retailing		1.5
Food, Beverage & Tobacco		4.0
Health Care Equipment & Services		6.5
Household & Personal Products		1.8
Insurance		3.8
Materials		6.6
Media		1.8
Pharmaceuticals, Biotechnology & Life Sciences		7.1
Real Estate		0.9
Retailing		6.6
Semiconductors & Semiconductor Equipment		3.1
Software & Services		5.0
Technology Hardware & Equipment		2.3
Transportation		3.3
Utilities		2.2
Short-Term Investments		0.4
Other Assets and Liabilities		(0.4	)
Total		100.0	%

Diversification by Country
as of April 30, 2009

	Percentage of
Country	Net Assets
Australia		6.4	%
Belgium		1.0
Brazil		1.5
Cayman Islands		1.1
China		1.3
Denmark		1.4
Finland		1.0
France		14.5
Germany		5.1
Guernsey Channel Isle		0.4
Hong Kong		2.2
Italy		3.0
Japan		26.2
Luxembourg		0.3
Netherlands		0.6
Norway		2.6
Singapore		1.3
South Korea		2.6
Spain		0.9
Sweden		3.1
Switzerland		8.7
United Kingdom		14.3
United States		0.5
Short-Term Investments		0.4
Other Assets and Liabilities		(0.4	)
Total		100.0	%

3

The Hartford International Small Company Fund

Schedule of Investments
April 30, 2009 (Unaudited)
(000’s Omitted)

Shares or Principal Amount			Market Value ╪
COMMON STOCKS - 100.0%
		Australia - 6.4%
	305	AJ Lucas Group Ltd.	$	570
	198	Ausenco Ltd.		502
	237	Brambles Ltd.		1,015
	63	Campbell Brothers		726
	621	Incitec Pivot Ltd.		944
	245	Karoon Gas Australia Ltd. •		977
	76	Sims Metal Management Ltd.		1,099
	582	Whitehaven Coal Ltd.		840
	89	Worleyparsons Ltd.		1,177
				7,850
		Belgium - 1.0%
	4	D’ieteren S.A.		762
	24	Umicore		463
				1,225
		Brazil - 1.5%
	72	Hypermarcas S.A. •		612
	88	Lojas Americanas S.A.		367
	63	Lupatech S.A. •		791
				1,770
		Cayman Islands - 1.1%
	187	China High Speed Transmission		338
	477	Li Ning Co., Ltd.		976
				1,314
		China - 1.3%
	24	Mindray Medical International Ltd.		552
	25	Perfect World Co., Ltd. ADR •		447
	304	Shandong Weigao Group Medical Polymer Co., Ltd.		572
				1,571
		Denmark - 1.4%
	22	Carlsberg A/S Class B		1,045
	30	H. Lundbeck A/S		549
				1,594
		Finland - 1.0%
	20	Kone Oyj Class B		541
	41	Nokian Rendaat Oyj		648
				1,189
		France - 14.5%
	18	April Group		545
	22	BioMerieux S.A.		1,667
	32	Bureau Veritas S.A.		1,286
	26	Eurofins Scientific		1,454
	15	Imerys S.A.		641
	58	Korian		1,319
	55	Maurel ET Prom		810
	17	Orpea •		679
	88	Rhodia S.A.		504
	51	Scor SE		1,069
	21	Seche Environment		1,234
	55	Sechilienne S.A.		1,881
	15	Vallourec		1,633
	18	Vilmorin & Cie		1,717
	13	Virbac S.A.		871
				17,310
		Germany - 5.1%
	87	ElringKlinger AG		1,266
	14	Hochtief AG		675
	161	Kontron AG		1,762
	124	Praktiker Bau-Und Heimwerkermaerkte Holding AG		897
	13	Salzgitter AG		928
	5	Vossloh AG		549
				6,077
		Guernsey Channel Isle - 0.4%
	259	London & Stamford Property Ltd.		463
		Hong Kong - 2.2%
	273	ASM Pacific Technology		1,219
	905	Huabao International Holdings Ltd.		640
	931	Noble Group Ltd.		807
				2,666
		Italy - 3.0%
	155	Antichi Pellettieri S.p.A.		288
	87	DiaSorin S.p.A.		1,923
	96	Geox S.p.A. •		808
	441	Immobiliare Grande Distribuzione •		589
				3,608
		Japan - 26.2%
	69	Aeon Delight Co., Ltd.		877
	131	Asics Corp.		851
	19	Benesse Corp.		719
	48	Capcom Co., Ltd.		841
	78	Chiyoda Corp.		469
	—	EPS Co., Ltd.		1,286
	20	FamilyMart Co., Ltd. *		539
	35	Ibiden Co., Ltd.		1,035
	2	Jupiter Telecommunications Co., Ltd.		1,645
	29	Kobayashi Pharmaceutical Co., Ltd.		953
	37	Mandom Corp. *		666
	161	Mitsui O.S.K. Lines Ltd.		920
	36	Miura Co., Ltd.		781
	65	Modec, Inc.		937
	41	Moshi Moshi Hotline, Inc.		706
	118	Nabtesco Corp.		959
	8	Nidec Corp.		433
	134	Nippon Carbon Co., Ltd.		319
	72	Nippon Denko Co., Ltd.		307
	108	Nippon Electric Glass Co., Ltd.		879
	6	OBIC Co., Ltd.		850
	—	Osaka Securities Exchange Co., Ltd.		950
	22	Point, Inc.		988
	2	Rakuten, Inc.		1,125
	133	Securities Carbon Ltd.		482
	—	Seven Bank Ltd.		439
	252	Shinko Plantech Co., Ltd.		1,677
	152	Shionogi & Co., Ltd.		2,617
	86	Square Enix Holdings Co., Ltd. *		1,538
	33	Sugi Holdings Co., Ltd.		620
	51	Sumco Corp.		749
	38	Sundrug Co., Ltd.		588
	60	Taiyo Nippon Sanso Corp.		420
	50	Tokyo Ohka Kogyo Co., Ltd. *		849
	198	Toyo Engineering Corp.		630
	73	Toyota Boshoku Corp.		928
				31,572
		Luxembourg - 0.3%
	45	Acergy S.A.		344

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

4

Shares or Principal Amount					Market Value ╪
COMMON STOCKS - 100.0% — (continued)
		Netherlands - 0.6%
	14	Smit International N.V.			$	774
		Norway - 2.6%
	966	DNO International ASA •				816
	50	Kongsberg Gruppen ASA •				2,318
						3,134
		Singapore - 1.3%
	1,473	Goodpack Ltd.				806
	575	Hyflux Ltd.				702
						1,508
		South Korea - 2.6%
	39	Korea Plant Service & Engineering Co., Ltd. •				983
	5	Megastudy Co., Ltd.				783
	10	Mirae Asset Securities Co., Ltd. •				608
	5	OCI Co., Ltd.				805
						3,179
		Spain - 0.9%
	62	Grifols S.A.				1,082
		Sweden - 3.1%
	169	Lundin Petroleum Ab •				1,096
	122	Sweco Ab				561
	143	Swedish Match Ab				2,040
						3,697
		Switzerland - 8.7%
	10	Bachem Holding AG Class B				592
	113	Dufry Group				3,022
	12	Kuehne & Nagel International AG	.			886
	12	Panalpina Welttransport Holding AG				641
	93	Paris RE Holdings Ltd.				1,776
	130	Temenos Group AG •				1,805
	10	Valiant Holding AG				1,803
						10,525
		United Kingdom - 14.3%
	217	Babcock International Group plc				1,393
	218	Brown (N) Group plc				755
	126	Catlin Group Ltd.				650
	34	Chemring Group plc				1,066
	321	Clapham House Group plc •				352
	47	Close Brothers Group plc				430
	166	Connaught plc				874
	308	Domino’s Pizza UK & IRL plc				928
	831	Hampson Industries plc				1,211
	246	ICAP plc				1,347
	151	IG Group Holdings plc				488
	60	James Fisher & Sons plc				397
	23	Johnson Matthey plc				409
	68	Lancashire Holdings Ltd. •				480
	351	Mears Group plc				1,348
	120	Rightmove				572
	38	Rotork plc				457
	143	SSL International plc				1,006
	87	Ultra Electronics Holdings plc ‡				1,531
	145	VT Group plc				987
	60	Wellstream Holdings plc				458
						17,139
		United States - 0.5%
	20	Netease.com, Inc. •				588
		Total common stocks (cost $135,810)			$	120,179
		Total long-term investments (cost $135,810)			$	120,179
SHORT-TERM INVESTMENTS - 0.4%
		Repurchase Agreements - 0.4%
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $99, collateralized by GNMA 4.50% - 6.50%, 2038 - 2039, value of $101)
$	99	0.18%, 04/30/2009			$	99
		BNP Paribas Securities Corp. TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $119, collateralized by FHLMC 4.50% - 6.50%, 2035 - 2039, FNMA 4.50% - 6.50%, 2034 - 2047, value of $121)
	119	0.17%, 04/30/2009				119
		Deutsche Bank Securities TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $166, collateralized by FHLMC 4.00% - 7.00%, 2021 - 2039, FNMA 6.00% - 7.00%, 2034 - 2038, GNMA 4.50% - 7.00%, 2024 - 2039, value of $170)
	166	0.17%, 04/30/2009				166
		UBS Securities, Inc. Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $1, collateralized by U.S. Treasury Bond 7.50%, 2024, value of $1)
	1	0.14%, 04/30/2009				1
		UBS Securities, Inc. TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $36, collateralized by FHLMC 8.00% - 15.00%, 2009 - 2021, FNMA 3.50% - 15.50%, 2012 - 2039, value of $37)
	36	0.16%, 04/30/2009				36
						421
		Total short-term investments (cost $421)			$	421
		Total investments (cost $136,231) ▲	100.4	%	$	120,600
		Other assets and liabilities	(0.4	)%		(431	)
		Total net assets	100.0	%	$	120,169

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

5

The Hartford International Small Company Fund

Schedule of Investments — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

Note:	Percentage of investments as shown is the ratio of the total market value to total net assets. Market value of investments in foreign securities represents 99.52% of total net assets at April 30, 2009.
	Foreign securities that are principally traded on certain foreign markets are adjusted daily pursuant to a third party pricing service methodology approved by the Board of Directors in order to reflect an adjustment for factors occurring after the close of the foreign market but before the close of the New York Stock Exchange.
▲	At April 30, 2009, the cost of securities for federal income tax purposes was $152,277 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	7,501
Unrealized Depreciation		(39,178	)
Net Unrealized Depreciation	$	(31,677	)

•	Currently non-income producing.
‡	This security, or a portion of this security, has been segregated to cover funding requirements on investment transactions settling in the future.
*	The cost of securities purchased on a when-issued or delayed delivery basis at April 30, 2009 was $340.

Forward Foreign Currency Contracts Outstanding at April 30, 2009

						Unrealized
	Market		Contract		Delivery	Appreciation/
Description	Value ╪		Amount		Date	(Depreciation)
Australian Dollar (Buy)	$	120	$	116	05/01/09	$	4
British Pound (Buy)		215		213	05/01/09		2
British Pound (Buy)		207		207	05/05/09		—
Danish Krone (Sell)		396		392	05/01/09		(4	)
Euro (Sell)		481		476	05/04/09		(5	)
Hong Kong Dollar (Buy)		327		327	05/05/09		—
Japanese Yen (Buy)		680		693	05/01/09		(13	)
Japanese Yen (Buy)		340		348	05/07/09		(8	)
Swiss Franc (Sell)		223		222	05/04/09		(1	)
						$	(25	)

╪ See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of securities.

Diversification by Industry
as of April 30, 2009

	Percentage of
Industry	Net Assets
Automobiles & Components		2.4	%
Banks		1.9
Capital Goods		14.7
Commercial & Professional Services		8.7
Consumer Durables & Apparel		2.4
Consumer Services		2.3
Diversified Financials		3.2
Energy		7.9
Food & Staples Retailing		1.5
Food, Beverage & Tobacco		4.0
Health Care Equipment & Services		6.5
Household & Personal Products		1.8
Insurance		3.8
Materials		6.6
Media		1.8
Pharmaceuticals, Biotechnology & Life Sciences		7.1
Real Estate		0.9
Retailing		6.6
Semiconductors & Semiconductor Equipment		3.1
Software & Services		5.0
Technology Hardware & Equipment		2.3
Transportation		3.3
Utilities		2.2
Short-Term Investments		0.4
Other Assets and Liabilities		(0.4	)
Total		100.0	%

FAS 157 Disclosure of Investment Valuation Hierarchy Levels

Assets:
Investment in securities — Level 1	$	3,694
Investment in securities — Level 2		116,906
Total	$	120,600
Other financial instruments — Level 2 *		6
Total	$	6
Liabilities:
Other financial instruments — Level 2 *		31
Total	$	31

* Other financial instruments are derivative instruments not reflected in the Schedule of Investments, such as futures, forwards and swap contracts, which are valued at the unrealized appreciation/depreciation on the investment.

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

6

The Hartford International Small Company Fund

Statement of Assets and Liabilities
April 30, 2009 (Unaudited)
(000’s Omitted)

Assets:
Investments in securities, at fair value (cost $136,231)	$	120,600
Cash		344
Foreign currency on deposit with custodian (cost $71)		72
Unrealized appreciation on forward foreign currency contracts		6
Receivables:
Investment securities sold		1,666
Fund shares sold		18
Dividends and interest		555
Other assets		103
Total assets		123,364
Liabilities:
Unrealized depreciation on forward foreign currency contracts		31
Payables:
Investment securities purchased		2,852
Fund shares redeemed		204
Investment management fees		18
Distribution fees		4
Accrued expenses		86
Total liabilities		3,195
Net assets	$	120,169
Summary of Net Assets:
Capital stock and paid-in-capital		242,523
Accumulated undistributed net investment income		704
Accumulated net realized loss on investments and foreign currency transactions		(107,421	)
Unrealized depreciation of investments and the translation of assets and liabilities denominated in foreign currency		(15,637	)
Net assets	$	120,169
Shares authorized		350,000
Par value	$	0.001
Class A: Net asset value per share/Maximum offering price per share	$	7.72/$8.16
Shares outstanding		5,345
Net assets	$	41,279
Class B: Net asset value per share	$	7.41
Shares outstanding		912
Net assets	$	6,754
Class C: Net asset value per share	$	7.29
Shares outstanding		1,215
Net assets	$	8,854
Class I: Net asset value per share	$	7.68
Shares outstanding		149
Net assets	$	1,146
Class Y: Net asset value per share	$	7.81
Shares outstanding		7,955
Net assets	$	62,136

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

7

The Hartford International Small Company Fund

Statement of Operations
For the Six Month Period Ended April 30, 2009 (Unaudited)
(000’s Omitted)

Investment Income:
Dividends	$	1,053
Interest		5
Securities lending		56
Less: Foreign tax withheld		(99	)
Total investment income		1,015
Expenses:
Investment management fees		521
Transfer agent fees		187
Distribution fees
Class A		54
Class B		34
Class C		45
Custodian fees		30
Accounting services		10
Registration and filing fees		35
Board of Directors’ fees		2
Audit fees		7
Other expenses		48
Total expenses (before waivers and fees paid indirectly)		973
Expense waivers		(118	)
Transfer agent fee waivers		(94	)
Commission recapture		(3	)
Custodian fee offset		—
Total waivers and fees paid indirectly		(215	)
Total expenses, net		758
Net investment income		257
Net Realized Loss on Investments and Foreign Currency Transactions:
Net realized loss on investments in securities		(42,862	)
Net realized loss on foreign currency transactions		(569	)
Net Realized Loss on Investments and Foreign Currency Transactions		(43,431	)
Net Changes in Unrealized Appreciation of Investments and Foreign Currency Transactions:
Net unrealized appreciation of investments		46,950
Net unrealized appreciation on translation of other assets and liabilities in foreign currencies		441
Net Changes in Unrealized Appreciation of Investments and Foreign Currency Transactions		47,391
Net Gain on Investments and Foreign Currency Transactions		3,960
Net Increase in Net Assets Resulting from Operations	$	4,217

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

8

The Hartford International Small Company Fund

Statement of Changes in Net Assets

(000’s Omitted)

	For the Six-Month
	Period Ended			For the
	April 30, 2009			Year Ended
	(Unaudited)			October 31, 2008
Operations:
Net investment income	$	257		$	2,445
Net realized loss on investments and foreign currency transactions		(43,431	)		(63,277	)
Net unrealized appreciation (depreciation) of investments and foreign currency transactions		47,391			(104,723	)
Net increase (decrease) in net assets resulting from operations		4,217			(165,555	)
Distributions to Shareholders:
From net investment income
Class A		—			(1,501	)
Class B		—			(75	)
Class C		—			(139	)
Class I		(11	)		(5	)
Class Y		(479	)		(1,960	)
From net realized gain on investments
Class A		—			(16,627	)
Class B		—			(2,221	)
Class C		—			(3,750	)
Class I		—			(26	)
Class Y		—			(14,283	)
Total distributions		(490	)		(40,587	)
Capital Share Transactions:
Class A		(8,596	)		(17,854	)
Class B		(823	)		(505	)
Class C		(1,918	)		(4,298	)
Class I		(370	)		2,136
Class Y		4,938			11,404
Net decrease from capital share transactions		(6,769	)		(9,117	)
Net decrease in net assets		(3,042	)		(215,259	)
Net Assets:
Beginning of period		123,211			338,470
End of period	$	120,169		$	123,211
Accumulated undistributed net investment income	$	704		$	937

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

9

The Hartford International Small Company Fund

Financial Highlights — (Unaudited)

1.	Organization:
	The Hartford Mutual Funds, Inc. (“Company”) is an open-end management investment company comprised of fifty-two portfolios. Financial statements for The Hartford International Small Company Fund (the “Fund”), a series of the Company, are included in this report.
	The Company is organized under the laws of the State of Maryland and is registered with the Securities and Exchange Commission (“SEC”) under the Investment Company Act of 1940, as amended (“1940 Act”). The Fund is a diversified open-end management investment company.
	Class A shares are sold with a front-end sales charge of up to 5.50%. Class B shares are sold with a contingent deferred sales charge which is assessed on the lesser of the per share net asset value (“NAV”) of the shares at the time of redemption or the original purchase price, and declines from up to 5.00% to zero depending on the period of time the shares are held. Class C shares are sold with a contingent deferred sales charge of up to 1.00% on shares redeemed within twelve months of purchase. Class I shares are sold without sales charges to certain eligible investors through advisory fee-based wrap programs. Class Y shares, which are sold to certain eligible institutional investors, are sold without a sales charge. All classes of shares have identical voting, redemption, dividend, liquidation and other rights and the same terms and conditions, with the exceptions that each class may have different expenses, which may affect performance, and except that Class B shares automatically convert to Class A shares after 8 years.
	Effective at the close of business on September 30, 2009 (the “Close Date”), no new or additional investments will be allowed in Class B shares of The Hartford Mutual Funds (including investments through any systematic investment plan). After the Close Date, existing shareholders of Class B shares may continue to hold their Class B shares, exchange their Class B shares for Class B shares of another Hartford Mutual Fund (as permitted by existing exchange privileges), and redeem their Class B shares as described in the Fund’s prospectus. Reinstatement privileges with respect to Class B shares will continue under the current policy. If you have chosen to reinvest capital gains and dividends, any such capital gains or dividends on Class B shares will continue to be reinvested in Class B shares of the Fund. For Class B shares outstanding as of the Close Date, all Class B share attributes, including the 12b-1 fee, contingent deferred sales charge schedule, and conversion to Class A shares remain unchanged.
2.	Significant Accounting Policies:
	The following is a summary of significant accounting policies of the Fund, which are in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”).

a)	Security Transactions and Investment Income - Security transactions are recorded on the trade date (the date the order to buy or sell is executed). Security gains and losses are determined on the basis of identified cost.
	Dividend income is accrued as of the ex-dividend date, except that certain dividends for foreign securities where the ex-dividend date may have passed are recorded as soon as the Fund is informed of the dividend in the exercise of reasonable diligence. Interest income, including amortization of premium and accretion of discounts, is accrued on a daily basis.
b)	Security Valuation - The Fund generally uses market prices in valuing portfolio securities. If market prices are not readily available or are deemed unreliable, the Fund will use the fair value of the security as determined in good faith under policies and procedures established by and under the supervision of the Fund’s Board of Directors. Market prices may be deemed unreliable, for example, if a security is thinly traded or if an event has occurred after the close of the security’s primary markets, but before the close of the New York Stock Exchange (the “Exchange”) (normally 4:00 p.m. Eastern Time, referred to as the “Valuation Time”) that is expected to affect the value of the portfolio security. The circumstances in which the Fund may use fair value pricing include, among others: (i) the occurrence of events that are significant to a particular issuer, such as mergers, restructuring or defaults; (ii) the occurrence of events that are significant to an entire market, such as natural disasters in a particular region or governmental actions; (iii) trading restrictions on securities; (iv) thinly traded securities and (v) market events such as trading halts and early market closings. In addition, with respect to the valuation of stocks primarily traded on foreign markets, the Fund uses a fair value pricing service approved by the Fund’s Board of Directors, which employs quantitative models that evaluate changes in the value of foreign market proxies (e.g., futures contracts, ADR’s, exchange traded funds (“ETF’s”)) after the close of the foreign markets but before the close of the Exchange. Securities that are primarily traded on foreign markets may trade on

10

	days that are not business days of the Fund. The value of the foreign securities in which the Fund invests may change on days when a shareholder will not be able to purchase or redeem shares of the Fund. Fair value pricing is subjective in nature and the use of fair value pricing by the Fund may cause the NAV of its shares to differ significantly from the NAV that would have been calculated using market prices at the close of the exchange on which a portfolio security is primarily traded but before the close of the Exchange. There can be no assurance that the Fund could obtain the fair value assigned to a security if the Fund were to sell the security at approximately the time at which the Fund determines its NAV.
	Exchange traded equity securities shall be valued at the last reported sale price on the exchange or market on which the security is primarily traded (the “Primary Market”) at the Valuation Time. If the security did not trade on the Primary Market, it may be valued at the Valuation Time at the last reported sale price on another exchange where it trades. The value of an equity security not traded on any exchange but traded on the Nasdaq Stock Market, Inc. (“Nasdaq”) or another over-the-counter market shall be valued at the last reported sale price or official closing price on the exchange or market on which the security is traded as of the Valuation Time. If it is not possible to determine the last reported sale price or official closing price on the relevant exchange or market at the Valuation Time, the value of the security shall be taken to be the most recent mean between bid and asked prices on such exchange or market at the Valuation Time.
	Securities of foreign issuers and non-dollar securities are translated from the local currency into U.S. dollars using prevailing exchange rates.
	Financial instruments for which prices are not available from an independent pricing service are valued using market quotations obtained from one or more dealers that make markets in securities in accordance with procedures established by the Fund’s Board of Directors.
	A forward currency contract shall be valued based on the price of the underlying currency at the prevailing interpolated exchange rate, which is a combination of the spot currency rate and the forward currency rate. Spot currency rates and forward currency rates are obtained from an independent pricing service on a daily basis not more than one hour before the Valuation Time.
	Other derivative or contractual type instruments shall be valued using market prices if such instruments trade on an exchange or market. If such instruments do not trade on an exchange or market, such instruments shall be valued at a price at which the counterparty to such contract would repurchase the instrument. In the event that the counterparty cannot provide a price, such valuation may be determined in accordance with procedures established by the Fund’s Board of Directors.
c)	Foreign Currency Transactions — The accounting records of the Fund are maintained in U.S. dollars. All assets and liabilities initially expressed in foreign currencies are converted into U.S. dollars at the prevailing exchange rates. Purchases and sales of investment securities, dividend and interest income and certain expenses are translated at the rates of exchange prevailing on the respective dates of such transactions.
	The Fund does not isolate that portion of portfolio security valuation resulting from fluctuations in the foreign currency exchange rates on portfolio securities from the fluctuations arising from changes in the market prices of securities held. Such fluctuations are included with the net realized and unrealized gain or loss on investments in the accompanying financial statements.
	Net realized foreign exchange gains or losses arise from sales of foreign currencies and the difference between asset and liability amounts initially stated in foreign currencies and the U.S. dollar value of the amounts actually received or paid. Net unrealized foreign exchange gains or losses arise from changes in the value of other assets and liabilities at the end of the reporting period, resulting from changes in the exchange rates.
d)	Securities Lending — The Fund may lend its securities to certain qualified brokers who pay the Fund negotiated lender fees. The loans are fully collateralized at all times with cash and/or U.S. Government Securities and/or repurchase agreements. The cash collateral is then invested in short-term money market instruments. The repurchase agreements are fully collateralized by U.S. Government Securities. The adequacy of the collateral for securities on loan is monitored on a daily basis. For instances where the

11

The Hartford International Small Company Fund

Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

	market value of collateral falls below the market value of the securities out on loan, such collateral is supplemented on the following business day.
	While securities are on loan, the Fund is subject to the following risks: 1) that the borrower may default on the loan and that the collateral could be inadequate in the event the borrower defaults, 2) that the earnings on the collateral invested may not be sufficient to pay fees incurred in connection with the loan, 3) that the principal value of the collateral invested may decline and may not be sufficient to pay back the borrower for the amount of the collateral posted, 4) that the borrower may use the loaned securities to cover a short sale which may place downward pressure on the market prices of the loaned securities, 5) that return of loaned securities could be delayed and could interfere with portfolio management decisions and 6) that any efforts to recall the securities for purposes of voting a proxy may not be effective. The Fund had no securities out on loan as of April 30, 2009.
e)	Joint Trading Account — Pursuant to an exemptive order issued by the SEC, the Fund may transfer uninvested cash balances into a joint trading account managed by Wellington Management Company, LLP (“Wellington”). These balances may be invested in one or more repurchase agreements and/or short-term money market instruments.
f)	Repurchase Agreements — A repurchase agreement is an agreement by which the seller of a security agrees to repurchase the security sold at a mutually agreed upon time and price. At the time the Fund enters into a repurchase agreement, the value of the underlying collateral security(ies), including accrued interest, will be equal to or exceed the value of the repurchase agreement. Securities that serve to collateralize the repurchase agreement are held by the Fund’s custodian in book entry or physical form in the custodial account of the Fund or in a third party custodial account. Repurchase agreements are valued at cost plus accrued interest. The Fund, as shown on the Schedule of Investments, had outstanding repurchase agreements as of April 30, 2009.
g)	Forward Foreign Currency Contracts — The Fund may enter into forward foreign currency contracts that obligate the Fund to repurchase/replace or sell currencies at specified future dates. Forward foreign currency contracts may be used to hedge against adverse fluctuations in exchange rates between currencies.
	Forward foreign currency contracts involve elements of market risk in excess of the amount reflected in the Statement of Assets and Liabilities. In addition, risks may arise upon entering into these contracts from the potential inability of the counterparties to meet the terms of the contracts and from unanticipated movements in the value of the foreign currencies relative to the U.S. dollar.
h)	Indexed Securities — The Fund may invest in indexed securities whose values are linked to changes in interest rates, indices, or other underlying instruments. The Fund uses these securities to increase or decrease its exposure to different underlying instruments and to gain exposure to markets that might be difficult to invest in using conventional securities. Indexed securities may be more volatile than their underlying instruments, but any loss is limited to the amount of the original investment and there may be a limit to the potential appreciation of the investment. The Fund had no investments in indexed securities as of April 30, 2009.
i)	Fund Share Valuation and Dividend Distributions to Shareholders — Orders for the Fund’s shares are executed in accordance with the investment instructions of the shareholders. The NAV of the Fund’s shares is determined as of the close of each business day of the Exchange. The NAV is determined separately for each class of the Fund by dividing the Fund’s net assets attributable to that class by the number of shares of the class outstanding. Orders for the purchase of the Fund’s shares prior to the close of the Exchange on any day on which the Exchange is open for business are priced at the NAV determined as of the close of the Exchange. Orders after the close of the Exchange, or on a day on which the Exchange and/or the Fund is not open for business, are priced at the next determined NAV.
	The Fund intends to distribute substantially all of its net investment income and net realized capital gains to shareholders no less frequently than once a year. Normally, dividends from net investment income are declared and paid annually. Dividends are paid on shares beginning on the business day after the day when the funds used to purchase the shares are collected by the transfer agent for the Fund. Unless shareholders specify otherwise, all dividends will be automatically reinvested in additional full or fractional shares of the Fund.

12

	Distributions from net investment income, realized capital gains and capital are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP with respect to character and timing. These differences include but are not limited to foreign currency gains and losses, losses deferred due to wash sales adjustments, adjustments related to Passive Foreign Investment Companies and certain derivatives, and excise tax regulations. Permanent book and federal income tax basis differences relating to shareholder distributions will result in reclassifications to certain of the Fund’s capital accounts (see Federal Income Taxes: Reclassification of Capital Accounts footnote).
j)	Illiquid and Restricted Securities — The Fund is permitted to invest up to 15% of its net assets in illiquid securities. “Illiquid Securities” are those that may not be sold or disposed of in the ordinary course of business within seven days, at approximately the price used to determine the Fund’s NAV. The Fund may not be able to sell illiquid securities or other investments when its sub-adviser considers it desirable to do so or may have to sell such securities or investments at a price that is lower than the price that could be obtained if the securities or investments were more liquid. A sale of illiquid securities or other investments may require more time and may result in higher dealer discounts and other selling expenses than does the sale of those that are liquid. Illiquid securities and investments also may be more difficult to value, due to the unavailability of reliable market quotations for such securities or investments, and investment in them may have an adverse impact on the Fund’s NAV. The Fund may also purchase certain restricted securities, commonly known as Rule 144A securities, that can be resold to institutions and which may be determined to be liquid pursuant to policies and guidelines established by the Fund’s Board of Directors. The Fund had no illiquid or restricted securities as of April 30, 2009.
k)	Securities Purchased on a When-Issued or Delayed-Delivery Basis — Delivery and payment for securities that have been purchased by the Fund on a forward commitment, or when-issued or delayed-delivery basis take place beyond the customary settlement period. During this period, such securities are subject to market fluctuations, and the Fund identifies securities segregated in its records with value at least equal to the amount of the commitment. As of April 30, 2009, the Fund had entered into outstanding when-issued or forward commitments with a cost of $340.
l)	Use of Estimates — The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and the reported amounts of income and expenses during the period. Operating results in the future could vary from the amounts derived from management’s estimates.
m)	Financial Accounting Standards Board Financial Accounting Standards No. 157 — Effective November 1, 2008, the Fund adopted Financial Accounting Standards Board (“FASB”) Statement of Financial Accounting Standards No. 157, “Fair Value Measurements” (“FAS 157”). This standard clarifies the definition of fair value for financial reporting, establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements. Fair value is defined under FAS 157 as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Under FAS 157, a fair value measurement should reflect all of the assumptions that market participants would use in pricing the asset or liability, including assumptions about the risk inherent in a particular valuation technique, the effect of a restriction on the sale or use of an asset, and the risk of nonperformance.
	Various inputs are used in determining the value of the Fund’s investment. These inputs are summarized, per FAS 157, into three broad hierarchy levels. This hierarchy is based on whether the valuation inputs are observable or unobservable. These levels are:

• Level 1 — Quoted prices in active markets for identical securities. Level 1 includes exchange-traded instruments such as domestic equities, some foreign equities, options, futures, mutual funds, ETF’s, and rights and warrants.

• Level 2 — Observable inputs other than Level 1 prices, such as quoted prices for similar securities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the security. Level 2 includes debt securities that are traded less frequently than exchange-traded instruments and that are valued using third party pricing services and foreign equities, whose value is determined

13

The Hartford International Small Company Fund

Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

using a multi-factor regression model with inputs that are observable in the market; and money market instruments, which are carried at amortized cost.

•

Level 3 — Significant unobservable inputs that are supported by little or no market activity. Level 3 includes financial instruments whose values are determined using broker quotes and require significant management judgment or estimation. This category includes broker quoted securities, long dated OTC options and securities where trading has been halted or there are certain restrictions on trading. While these securities are priced using unobservable inputs, the valuation of these securities reflects the best available data and management believes the prices are a good representation of exit price.

	Individual securities within any of the above mentioned asset classes may be assigned a different hierarchical level than those presented above, as individual circumstances dictate.
	FAS 157 also requires that a roll forward reconciliation be shown for all Level 3 securities from the beginning of the reporting period to the end of the reporting period. Part of this reconciliation includes transfers in and/or out of Level 3. For purposes of this reconciliation, transfers in are shown at the end of period fair value and transfers out are shown at the beginning of period fair value. During the six-month period ended April 30, 2009, the Fund held no Level 3 securities.
	Refer to the valuation hierarchy levels summary found following the Schedule of Investments.
	FASB Staff Position No. 157-4 — In April 2009, FASB released FASB Staff Position No. 157-4, “Determining Fair Value When the Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly” (“FSP FAS 157-4”). FSP FAS 157-4 provides additional guidance on determining whether a market for a financial asset is not active and a transaction is not distressed when measuring fair value under FAS 157. The FSP also requires additional disclosure detail on debt and equity securities by major investment categories. FSP FAS 157-4 is effective for interim and annual periods ending after June 15, 2009. At this time, management is evaluating the implications of FSP FAS 157-4 and does not believe it will impact valuation but will require additional disclosure. This additional disclosure has not yet been implemented.
n)	Financial Accounting Standards Board Financial Accounting Standards No. 161 — In March 2008, the FASB released Statement of Financial Accounting Standards No. 161, “Disclosures about Derivative Instruments and Hedging Activities” (“FAS 161”). FAS 161 requires companies to disclose information detailing the objectives and strategies for using derivative instruments, the level of derivative activity entered into by the company and any credit risk-related contingent features of the agreements. The application of FAS 161 is required for fiscal years and interim periods beginning after November 15, 2008. At this time, management is evaluating the implications of FAS 161 and has not yet implemented the new disclosure standard.
o)	Indemnifications: Under the Company’s organizational documents, the Company shall indemnify its officers and directors to the full extent required or permitted under Maryland General Corporation Law and the federal securities law. In addition, the Company, on behalf of the Fund, may enter into contracts that contain a variety of indemnifications. The Company’s maximum exposure under these arrangements is unknown. However, the Company has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote.

3. Federal Income Taxes:

a) Federal Income Taxes — For federal income tax purposes, the Fund intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code (“IRC”) by distributing substantially all of its taxable net investment income and net realized capital gains to its shareholders and otherwise complying with the requirements of regulated investment companies. The Fund has distributed substantially all of its income and capital gains in prior years and the Fund intends to distribute substantially all of its income and gains during the calendar year ending December 31, 2009. Accordingly, no provision for federal income or excise taxes has been made in the accompanying financial statements. Distributions from short-term capital gains are treated as ordinary income distributions for federal income tax purposes.

14

b) The tax character of distributions paid by the Fund for the periods indicated is as follows (as adjusted for dividends payable):

	For the Year Ended		For the Year Ended
	October 31, 2008		October 31, 2007
Ordinary Income	$	25,072	$	16,470
Long-Term Capital Gains *		15,515		9,615

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

As of October 31, 2008, the Fund’s components of distributable earnings (deficit) on a tax basis were as follows:

	Amount
Undistributed Ordinary Income	$	479
Accumulated Capital Losses*	$	(47,944	)
Unrealized Depreciation†	$	(78,616	)
Total Accumulated Deficit	$	(126,081	)

*	The Fund has capital loss carryforwards that are identified in the Capital Loss Carryforward note that follows.
†	The differences between book-basis and tax-basis unrealized appreciation (depreciation) are attributable to the tax deferral of wash sales losses, the mark-to-market adjustment for certain derivatives in accordance with IRC Sec. 1256, the mark to market for Passive Foreign Investment Companies and basis differences in real estate investment trusts.

c)

Reclassification of Capital Accounts — In accordance with American Institute of Certified Public Accountants (AICPA) Statement of Position 93-2, Determination, Disclosure, and Financial Statement Presentation of Income, Capital Gain, and Return of Capital Distributions by Investment Companies, the Fund has recorded reclassifications in its capital accounts. These reclassifications had no impact on the NAV of the Fund. The reclassifications are a result of permanent differences between GAAP and tax accounting for such items as net operating losses that reduce distribution requirements. Adjustments are made to reflect the impact these items have on current and future distributions to shareholders. Therefore, the source of the Fund’s distributions may be shown in the accompanying Statement of Changes in Net Assets as from net investment income, from net realized gains on investments or from capital depending on the type of book and tax differences that exist. As of October 31, 2008, the Fund recorded reclassifications to increase undistributed net investment income by $265, decrease accumulated net realized loss by $241, and decrease paid in capital by $24.

d)

Capital Loss Carryforward — At October 31, 2008 (tax-year-end), the Fund had capital loss carryforwards for U.S. federal income tax purposes of approximately:

Year	Amount
2016	$	47,944
Total	$	47,944

e) Financial Accounting Standards Board Interpretation No. 48 — On July 13, 2006, the FASB released FASB Interpretation No. 48 “Accounting for Uncertainty in Income Taxes” (“FIN 48”). FIN 48 provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. The Fund adopted FIN 48 for fiscal years beginning after December 15, 2006. Management has evaluated the implications of FIN 48 for all open tax years (tax years ended October 31, 2006 — 2008) and has determined there is no impact to the Fund’s financial statements.

4. Expenses:

15

The Hartford International Small Company Fund

Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

a)

Investment Management Agreements — Hartford Investment Financial Services, LLC (“HIFSCO”) serves as investment manager to the Fund pursuant to an Investment Management Agreement with The Hartford Mutual Funds, Inc. As investment manager, HIFSCO has overall investment supervisory responsibility for the Fund. In addition, HIFSCO provides administrative personnel, services, equipment, facilities and office space for proper operation of the Fund. HIFSCO has contracted with Wellington for the provision of day-to-day investment management services to the Fund in accordance with the Fund’s investment objective and policies. The Fund pays a fee to HIFSCO, a portion of which may be used to compensate Wellington.

The schedule below reflects the rates of compensation paid to HIFSCO for investment management services rendered during the six-month period ended April 30, 2009; the rates are accrued daily and paid monthly:

Average Daily Net Assets	Annual Fee
On first $500 million		0.9000	%
On next $500 million		0.8500	%
On next $4 billion		0.8000	%
On next $5 billion		0.7975	%
Over $10 billion		0.7950	%

b) Accounting Services Agreement — Pursuant to the Fund Accounting Agreement between Hartford Life Insurance Company (“HLIC”) and the Fund, HLIC provides accounting services to the Fund and receives monthly compensation on the Fund’s average net assets. The Fund’s accounting service fees are accrued daily and paid monthly.

Average Daily Net Assets	Annual Fee
On first $5 billion		0.018	%
On next $5 billion		0.016	%
Over $10 billion		0.014	%

c) Operating Expenses — Allocable expenses incurred by the Company are allocated to each Fund and allocated to classes within the Fund in proportion to the average daily net assets of the Fund and each class, except where allocation of certain expenses is more fairly made directly to the Fund or to specific classes within a Fund. During the six-month period ended April 30, 2009, HIFSCO has contractually limited the total operating expenses of this Fund, exclusive of taxes, interest expense, brokerage commissions, certain distribution expenses and extraordinary expenses as follows:

Class A	Class B			Class C			Class I			Class Y
1.60%		2.35	%		2.35	%		1.35	%		1.20	%

d) Fees Paid Indirectly — The Fund has entered into agreements with State Street Global Markets, LLC and Russell Implementation Services Inc. to partially recapture non-discounted trade commissions. Such rebates are used to pay a portion of the Fund’s expenses. In addition, the Fund’s custodian bank has also agreed to reduce its fees when the Fund maintains cash on deposit in the non-interest-bearing custody account. For the six-month period ended April 30, 2009, these amounts are included in the Statement of Operations.

16

The ratio of expenses to average net assets in the accompanying financial highlights excludes the reduction in expenses related to fees paid indirectly. Had the fees paid indirectly been included, the annualized expense ratio for the periods listed below would have been as follows:

	Annualized
	Six-Month
	Period			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended
	Ended April			October 31,			October 31,			October 31,			October 31,			October 31,
	30, 2009			2008			2007			2006			2005			2004
Class A Shares		1.32	%		1.52	%		1.49	%		1.58	%		1.55	%		1.60	%
Class B Shares		1.68			2.13			2.25			2.22			2.30			2.30
Class C Shares		2.07			2.28			2.23			2.33			2.30			2.29
Class I Shares		1.31			1.16			1.18	*
Class Y Shares		1.13			1.01			1.01			1.18			1.15			1.15

* From May 31, 2007 (commencement of operations), through October 31, 2007

e)	Distribution and Service Plan for Class A, B and C Shares — HIFSCO is the principal underwriter and distributor of the Fund. HIFSCO is engaged in distribution activities, which include marketing and distribution of shares through broker-dealers, financing distribution costs and maintaining financial books and records. For the six-month period ended April 30, 2009, HIFSCO received front-end load sales charges of $40 and contingent deferred sales charges of $15 from the Fund.
	The Fund has adopted Distribution and Service Plans in accordance with Rule 12b-1 of the Investment Company Act of 1940, as amended, to compensate the distributor (HIFSCO) for activities intended to result in the sale and distribution of Classes A, B and C shares and for providing services for shareholders. The Rule 12b-1 plan applicable to Class A shares of the Funds provides for payment of a Rule 12b-1 fee of up to 0.35% of average daily net assets; however, the Board of Directors has currently authorized 12b-1 payments of only up to 0.25%. Some or all of the fee may be used for shareholder servicing expenses with the remainder used for distribution expenses. Some or the entire Rule 12b-1 fee for Class B shares may be remitted to broker-dealers for distribution and/or shareholder account services. Under the Class B Plan, the Fund pays the distributor 1.00% of the average daily net assets of Class B shares that are outstanding for 8 years or less, 0.25% of which is a fee for services provided to existing shareholders with the remainder used for distribution expenses. After eight years, Class B shares convert to Class A shares. Upon conversion to Class A shares, the Class A plan described above will apply to those shares. Under the Class C Plan, the Fund pays the Distributor 1.00% of the average daily net assets of Class C shares outstanding, 0.25% of which is intended as a fee for services provided to existing shareholders with the remainder used for distribution expenses. For Class C shares, some or the entire fee may be remitted to broker-dealers for distribution and/or shareholder account services. The Fund’s 12b-1 fees are accrued daily and paid monthly.
	For the six-month period ended April 30, 2009, total sales commissions paid to affiliated brokers/dealers of The Hartford for distributing the Fund’s shares were $12. These commissions are in turn paid to sales representatives of the broker/dealers.
f)	Other Related Party Transactions — Certain officers of the Fund are directors and/or officers of HIFSCO and/or The Hartford or its subsidiaries. For the six-month period ended April 30, 2009, a portion of the Fund’s chief compliance officer’s salary was paid by the Fund in an amount, which rounds to zero. Hartford Administrative Services Company (“HASCO”), an indirect wholly owned subsidiary of The Hartford, provides transfer agent services to the Fund. HASCO was compensated $122 for providing such services. These fees are accrued daily and paid monthly.

17

The Hartford International Small Company Fund

Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

5.	Investment Transactions:
	For the six-month period ended April 30, 2009, the Fund’s aggregate purchases and sales of investment securities (excluding short-term investments) were as follows:

	Amount
Cost of Purchases Excluding U.S. Government Obligations	$	80,742
Sales Proceeds Excluding U.S. Government Obligations		87,579

6.	Capital Share Transactions:
	The following information is for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	For the Six-Month Period Ended April 30, 2009												For the Year Ended October 31, 2008
			Shares					Shares							Shares					Shares
			Issued for					Issued		Net Increase					Issued for					Issued		Net Increase
	Shares		Reinvested		Shares			from		(Decrease) of			Shares		Reinvested		Shares			from		(Decrease) of
	Sold		Dividends		Redeemed			Merger		Shares			Sold		Dividends		Redeemed			Merger		Shares
Class A
Shares		403		—		(1,596	)		—		(1,193	)		2,993		1,057		(6,034	)		—		(1,984	)
Amount	$	2,992	$	—	$	(11,588	)	$	—	$	(8,596	)	$	39,053	$	15,812	$	(72,719	)	$	—	$	(17,854	)
Class B
Shares		37		—		(157	)		—		(120	)		156		150		(402	)		—		(96	)
Amount	$	259	$	—	$	(1,082	)	$	—	$	(823	)	$	2,020	$	2,156	$	(4,681	)	$	—	$	(505	)
Class C
Shares		141		—		(422	)		—		(281	)		304		230		(963	)		—		(429	)
Amount	$	994	$	—	$	(2,912	)	$	—	$	(1,918	)	$	3,886	$	3,279	$	(11,463	)	$	—	$	(4,298	)
Class I
Shares		3		1		(56	)		—		(52	)		265		2		(76	)		—		191
Amount	$	22	$	10	$	(402	)	$	—	$	(370	)	$	2,796	$	29	$	(689	)	$	—	$	2,136
Class Y
Shares		1,028		61		(378	)		—		711			1,470		1,072		(2,550	)		—		(8	)
Amount	$	7,194	$	479	$	(2,735	)	$	—	$	4,938		$	19,741	$	16,242	$	(24,579	)	$	—	$	11,404

The following reflects the conversion of Class B Shares into Class A Shares (reflected as Class A Shares issued and Class B shares redeemed) for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	Shares		Dollars
For the Six-Month Period Ended April 30, 2009		9	$	66
For the Year Ended October 31, 2008		31	$	393

7.	Line of Credit:
	The Fund is one of several Hartford Funds that participate in a $500 million committed revolving line of credit facility. The facility is to be used for temporary or emergency purposes. Under the arrangement, the Fund is required to own securities having a market value in excess of 300% of the total bank borrowings. The interest rate on borrowings varies depending on the nature of the loan. The facility also requires a fee to be paid based on the amount of the commitment. During the six-month period ended April 30, 2009, the Fund did not have any borrowings under this facility.
8.	Industry Classifications:
	Other than the industry classifications “Other Investment Pools and Funds” and “Exchange Traded Funds”, equity industry classifications used in this report are the Global Industry Classification Standard, which was developed by and is the exclusive property and service mark of MSCI, Inc. and Standard & Poor’s.

18

The Hartford International Small Company Fund

Financial Highlights — (Unaudited)

	- Selected Per-Share Data - (a)																													- Ratios and Supplemental Data -
																																			Ratio of			Ratio of			Ratio of
																																			Expenses			Expenses			Expenses
																																			to Average			to Average			to Average
																																			Net Assets			Net Assets			Net Assets
																																			Before			After			After
								Net																											Waivers			Waivers			Waivers
								Realized																											and			and			and
								and Un-									Distrib-								Net										Reimburse-			Reimburse-			Reimburse-			Ratio of
			Net			Pay-		realized						Dividends			utions								Increase			Net							ments and			ments and			ments and			Net Invest-			Port-
	Net Asset		Invest-			ments		Gain						from Net			from			Distri-					(Decrease)			Asset					Net Assets		Including			Including			Excluding			ment			folio
	Value at		ment			from		(Loss) on			Total from			Invest-			Realized			butions		Total			in Net			Value at					at End of		Expenses			Expenses			Expenses			Income to			Turn-
	Beginning		Income			(to)		Invest-			Investment			ment			Capital			from		Distri-			Asset			End of		Total			Period		not Subject			not Subject			not Subject			Average			over
Class	of Period		(Loss)			Affiliate		ments			Operations			Income			Gains			Capital		butions			Value			Period		Return(b)			(000’s)		to Cap(c)			to Cap(c)			to Cap(c)			Net Assets			Rate(d)
For the Six-Month Period Ended April 30, 2009 (Unaudited) (e)
A	$	7.45	$	0.01		$	—	$	0.26		$	0.27		$	—		$	—		$	—	$	—		$	0.27		$	7.72		3.49	%(f)	$	41,279		1.96	%(g)		1.33	%(g)		1.33	%(g)		0.36	%(g)		70	%
B		7.16		—			—		0.25			0.25			—			—			—		—			0.25			7.41		3.35	(f)		6,754		3.10	(g)		1.68	(g)		1.68	(g)		0.04	(g)		—
C		7.06		(0.01	)		—		0.24			0.23			—			—			—		—			0.23			7.29		3.11	(f)		8,854		2.70	(g)		2.08	(g)		2.08	(g)		(0.37	) (g)		—
I		7.47		0.01			—		0.26			0.27			(0.06	)		—			—		(0.06	)		0.21			7.68		3.59	(f)		1,146		1.31	(g)		1.31	(g)		1.31	(g)		0.35	(g)		—
Y		7.60		0.03			—		0.25			0.28			(0.07	)		—			—		(0.07	)		0.21			7.81		3.62	(f)		62,136		1.13	(g)		1.13	(g)		1.13	(g)		0.69	(g)		—
For the Year Ended October 31, 2008 (e)
A		17.99		0.10			—		(8.53	)		(8.43	)		(0.16	)		(1.95	)		—		(2.11	)		(10.54	)		7.45		(52.67	)		48,739		1.52			1.52			1.52			0.79			121
B		17.35		0.02			—		(8.20	)		(8.18	)		(0.06	)		(1.95	)		—		(2.01	)		(10.19	)		7.16		(52.96	)		7,392		2.53			2.13			2.13			0.18			—
C		17.16		—			—		(8.08	)		(8.08	)		(0.07	)		(1.95	)		—		(2.02	)		(10.10	)		7.06		(53.00	)		10,563		2.28			2.28			2.28			0.02			—
I		18.02		0.11			—		(8.48	)		(8.37	)		(0.23	)		(1.95	)		—		(2.18	)		(10.55	)		7.47		(52.43	)		1,497		1.16			1.16			1.16			1.23			—
Y		18.26		0.18			—		(8.66	)		(8.48	)		(0.23	)		(1.95	)		—		(2.18	)		(10.66	)		7.60		(52.32	)		55,020		1.01			1.01			1.01			1.36			—
For the Year Ended October 31, 2007
A		16.19		0.03			—		3.92			3.95			(0.15	)		(2.00	)		—		(2.15	)		1.80			17.99		27.90			153,290		1.49			1.49			1.49			0.33			96
B		15.72		(0.05	)		—		3.76			3.71			(0.08	)		(2.00	)		—		(2.08	)		1.63			17.35		26.97			19,562		2.44			2.26			2.26			(0.47	)		—
C		15.55		(0.02	)		—		3.69			3.67			(0.06	)		(2.00	)		—		(2.06	)		1.61			17.16		26.98			33,033		2.23			2.23			2.23			(0.43	)		—
I(h)		17.10		0.02			—		0.90			0.92			—			—			—		—			0.92			18.02		5.38	(f)		174		1.19	(g)		1.19	(g)		1.19	(g)		0.77	(g)		—
Y		16.37		0.02			—		4.06			4.08			(0.19	)		(2.00	)		—		(2.19	)		1.89			18.26		28.48			132,411		1.01			1.01			1.01			0.75			—
For the Year Ended October 31, 2006 (e)
A		14.27		0.08			—		3.62			3.70			(0.25	)		(1.53	)		—		(1.78	)		1.92			16.19		29.36			69,998		1.74			1.60			1.60			0.56			107
B		13.91		(0.01	)		—		3.51			3.50			(0.16	)		(1.53	)		—		(1.69	)		1.81			15.72		28.51			11,960		2.66			2.24			2.24			(0.08	)		—
C		13.78		(0.03	)		—		3.48			3.45			(0.15	)		(1.53	)		—		(1.68	)		1.77			15.55		28.35			18,486		2.43			2.35			2.35			(0.22	)		—
Y		14.41		0.15			—		3.64			3.79			(0.30	)		(1.53	)		—		(1.83	)		1.96			16.37		29.89			86,707		1.20			1.20			1.20			0.97			—
For the Year Ended October 31, 2005
A		13.44		0.06			—		2.25			2.31			—			(1.48	)		—		(1.48	)		0.83			14.27		18.90			34,896		1.82			1.60			1.60			0.71			112
B		13.23		—			—		2.16			2.16			—			(1.48	)		—		(1.48	)		0.68			13.91		17.96			6,101		2.78			2.35			2.35			(0.02	)		—
C		13.12		(0.01	)		—		2.15			2.14			—			(1.48	)		—		(1.48	)		0.66			13.78		17.96			12,614		2.46			2.35			2.35			(0.06	)		—
Y		13.54		0.12			—		2.27			2.39			(0.04	)		(1.48	)		—		(1.52	)		0.87			14.41		19.40			65,828		1.28			1.20			1.20			1.13			—
For the Year Ended October 31, 2004
A		12.93		0.07			—		1.31			1.38			—			(0.87	)		—		(0.87	)		0.51			13.44		11.39			23,934		1.99			1.65			1.65			0.90			119
B		12.82		0.02			—		1.26			1.28			—			(0.87	)		—		(0.87	)		0.41			13.23		10.62			3,726		2.89			2.35			2.35			0.15			—
C		12.72		0.03			—		1.24			1.27			—			(0.87	)		—		(0.87	)		0.40			13.12		10.63			10,072		2.60			2.35			2.35			0.27			—
Y		13.02		0.14			—		1.30			1.44			(0.05	)		(0.87	)		—		(0.92	)		0.52			13.54		11.80			42,449		1.41			1.20			1.20			1.26			—

(a)	Information presented relates to a share outstanding throughout the indicated period.
(b)	Assumes initial investment at net asset value at the beginning of each period, reinvestment of all distributions, the complete redemption of the investment at net asset value at the end of each period and no sales charge. Total return would be reduced if sales charges were taken into account.
(c)	Ratios do not include fees paid indirectly (See Expenses in the accompanying Notes to Financial Statements).
(d)	Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between the classes of shares issued.
(e)	Per share amounts have been calculated using average shares outstanding method.
(f)	Not annualized.
(g)	Annualized.
(h)	Commenced operations on May 31, 2007.

19

The Hartford International Small Company Fund

Directors and Officers (Unaudited)

The Board of Directors appoints officers who are responsible for the day-to-day operations of the Fund and who execute policies formulated by the Directors. Each director serves until his or her death, resignation, or retirement or until the next annual meeting of shareholders is held or until his or her successor is elected and qualifies.

Directors and officers who are employed by or who have a financial interest in The Hartford are considered “interested” persons of the Fund pursuant to the Investment Company Act of 1940, as amended. Each officer and three of the Fund’s directors, as noted in the chart below, are “interested” persons of the Fund. Each director serves as a director for The Hartford Mutual Funds, Inc., The Hartford Mutual Funds II, Inc., The Hartford Income Shares Fund, Inc., Hartford Series Fund, Inc., and Hartford HLS Series Fund II, Inc., which collectively consist of 100 funds. Correspondence may be sent to directors and officers c/o Hartford Mutual Funds, P.O. Box 2999, Hartford, Connecticut 06104-2999, except that correspondence to Ms. Fagely may be sent to 500 Bielenberg Drive, Woodbury, Minnesota 55125.

The table below sets forth, for each director and officer, his or her name, year of birth, current position with the Fund and date first elected or appointed to The Hartford Mutual Funds, Inc. (“MF”) and The Hartford Mutual Funds II, Inc. (“MF2”), principal occupation, and, for directors, other directorships held. The Fund’s statement of additional information contains further information on the directors and is available free of charge by calling 1-888-843-7824 or writing to Hartford Mutual Funds, P.O. Box 64387, St. Paul, MN 55164-0387.

Information on the aggregate remuneration paid to the directors of the Fund can be found in the Statement of Operations herein. The Fund pays a portion of the Chief Compliance Officer’s compensation, but does not pay salaries or compensation to any of its officers or directors who are employed by The Hartford.

Non-Interested Directors

Lynn S. Birdsong (1946) Director since 2003, Co-Chairman of the Investment Committee

Mr. Birdsong is a private investor. Since 1981, Mr. Birdsong has been a partner in Birdsong Company, an advertising specialty firm. Since 2003, Mr. Birdsong has been an independent director of The Japan Fund. From 2003 to March 2005, Mr. Birdsong was an independent director of the Atlantic Whitehall Funds. From 1979 to 2002, Mr. Birdsong was a managing director of Zurich Scudder Investments, an investment management firm. During his employment with Scudder, Mr. Birdsong was an interested director of The Japan Fund.

Robert M. Gavin, Jr. (1940) Director since 2002 (MF) and 1986 (MF2), Chairman of the Board since 2004

Dr. Gavin is an educational consultant. Prior to September 1, 2001, he was President of Cranbrook Education Community and prior to July 1996, he was President of Macalester College, St. Paul, Minnesota.

Duane E. Hill (1945) Director since 2001 (MF) and 2002 (MF2), Chairman of the Nominating Committee

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

Sandra S. Jaffee (1941) Director since 2005

Ms. Jaffee is Chairman and Chief Executive Officer of Fortent (formerly Searchspace Group), a leading provider of compliance/regulatory technology to financial institutions. Ms. Jaffee served as an Entrepreneur in Residence with Warburg Pincus, a private equity firm, from August 2004 to August 2005. From September 1995 to July 2004, Ms. Jaffee served as Executive Vice President at Citigroup, where she was President and Chief Executive Officer of Citibank’s Global Securities Services (1995-2003).

William P. Johnston (1944) Director since 2005, Chairman of the Compliance Committee

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

20

Phillip O. Peterson (1944) Director since 2002 (MF) and 2000 (MF2), Chairman of the Audit Committee

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

Lemma W. Senbet (1946) Director since 2005

Dr. Senbet is the William E. Mayer Chair Professor of Finance at the University of Maryland, Robert H. Smith School of Business. He was chair of the Finance Department during 1998-2006. Previously he was an endowed professor of finance at the University of Wisconsin-Madison. Also, he was director of the Fortis Funds from March 2000-July 2002. Dr. Senbet served the finance profession in various capacities, including as director of the American Finance Association and President of the Western Finance Association. In 2006, Dr. Senbet was inducted Fellow of Financial Management Association International for his career-long distinguished scholarship and professional service.

Interested Directors and Officers

Thomas M. Marra* (1958) Director since 2002

Mr. Marra has served as President and Chief Operating Officer of The Hartford Financial Services Group, Inc. (“The Hartford”) since 2007. Mr. Marra currently serves as Director of Hartford Life, Inc. (“HL, Inc.”). Mr. Marra served as Chief Operating Officer of Hartford Life Insurance Company, Inc. (“Hartford Life”) (2000-2008), as President of Hartford Life (2002-2008) and as Director of Hartford Life’s Investment Products Division from 1998 to 2000.

* On February 24, 2009, The Hartford and Mr. Marra determined to enter into a mutually agreed separation whereby Mr. Marra will retire, and his role as an executive officer and employee of The Hartford will terminate, effective July 3, 2009. Mr. Marra will resign his position as a Director of the Fund effective June 25, 2009.

Lowndes A. Smith (1939) Director since 2002, Co-Chairman of the Investment Committee

Mr. Smith served as Vice Chairman of The Hartford from February 1997 to January 2002, as President and Chief Executive Officer of Hartford Life, Inc. from February 1997 to January 2002, and as President and Chief Operating Officer of The Hartford Life Insurance Companies from January 1989 to January 2002. Mr. Smith serves as a Director of White Mountains Insurance Group, Ltd., One Beacon Insurance, Symetra Financial and as a Managing Director of Whittington Gray Associates.

John C. Walters* (1962) Director since 2008

Mr. Walters currently serves as Chief Executive Officer, President and Director of HL, Inc. Mr. Walters previously served as President of the U.S. Wealth Management Division of Hartford Life, Inc., as Co-Chief Operating Officer of Hartford Life Insurance Company (2007-2008) and as Executive Vice President and Director of its Investment Products Division (2000-2008). Mr. Walters also serves as Chairman of the Board, Chief Executive Officer, President and Director of Hartford Life Insurance Company and as Executive Vice President of The Hartford. In addition, Mr. Walters is Manager of HL Investment Advisors, LLC (“HL Advisors”).

* Mr. Walters previously served as President and Chief Executive Officer of the Fund (2007 – 2009).

Other Officers

Robert M. Arena, Jr. (1968) President and Chief Executive Officer since 2009 (served as Vice President of the Fund (2006 – 2009))

Mr. Arena serves as Executive Vice President of Hartford Life Insurance Company, (“Hartford Life”). Additionally, Mr. Arena is Director and Senior Vice President of Hartford Administrative Services Company, (“HASCO”), Manager, Chief Executive Officer and President of Hartford Investment Financial Services, LLC (“HIFSCO”) and HL Advisors. Prior to joining The Hartford in 2004, he was Senior Vice President in charge of Product Management for American Skandia/Prudential in the individual annuities division. Mr. Arena joined American Skandia in 1996.

Tamara L. Fagely (1958) Vice President, Treasurer and Controller since 2002 (MF) 1993 (MF2)

Ms. Fagely has been a Vice President of HASCO since 1998 and Chief Financial Officer since 2006. Currently Ms. Fagely is a Vice President of Hartford Life. She served as Assistant Vice President of Hartford Life from December 2001 through March 2005. In addition, Ms. Fagely is Controller and Chief Financial Officer of HIFSCO.

Brian Ferrell (1962) AML Compliance Officer since 2008

Mr. Ferrell has served as Assistant Vice President and AML Compliance Officer for The Hartford since 2006 and as AML Compliance Officer for HASCO and Hartford Investor Services Company, LLC (“HISC”) since 2008. Prior to joining The Hartford in 2006, Mr. Ferrell held various positions at the U.S. Department of the Treasury, (the “Treasury”), from 2001 to 2006 where he served as Chief Counsel for the Treasury’s Financial Crimes Enforcement Network, (“FinCEN”) from 2005 – 2006.

21

The Hartford International Small Company Fund

Directors and Officers (Unaudited) — (continued)

Thomas D. Jones, III (1965) Vice President and Chief Compliance Officer since 2006

Mr. Jones serves as Chief Compliance Officer for the Hartford Mutual Funds and Vice President and Director of Securities Compliance for The Hartford. He is also Vice President of HIFSCO, HL Advisors, and Hartford Life Insurance Company. Mr. Jones joined The Hartford in 2006 from SEI Investments, where he served as Chief Compliance Officer for its mutual funds and investment advisers. Prior to joining SEI, Mr. Jones was First Vice President and Compliance Director for Merrill Lynch Investment Managers (Americas) (“MLIM”), where he worked from 1992-2004. At MLIM, Mr. Jones was responsible for the compliance oversight of various investment products, including mutual funds, wrap accounts, institutional accounts and alternative investments.

Edward P. Macdonald (1967) Vice President, Secretary and Chief Legal Officer since 2005

Mr. Macdonald serves as Assistant General Counsel and Assistant Vice President of The Hartford and Chief Legal Officer and Vice President of HIFSCO. He also serves as Vice President and Secretary of HASCO, Assistant Vice President of Hartford Life, and Chief Legal Officer, Secretary and Vice President of HL Advisors. Prior to joining The Hartford in 2005, Mr. Macdonald was Chief Counsel, Investment Management for Prudential Financial (formerly American Skandia Investment Services, Inc.). He joined Prudential in April 1999.

Vernon J. Meyer (1964) Vice President since 2006

Mr. Meyer serves as Senior Vice President of Hartford Life and as Director of its Investment Advisory Group in the Individual Markets Group segment. He also serves as Senior Vice President of HIFSCO and HL Advisors. Prior to joining The Hartford in 2004, Mr. Meyer was with MassMutual which he joined in 1987.

D. Keith Sloane (1960) Vice President since 2009

Mr. Sloane is a Senior Vice President of Hartford Life where he serves as Director of mutual fund product management for The Hartford’s mutual funds and 529 college savings businesses. Additionally, Mr. Sloane currently serves as Senior Vice President of HIFSCO, HL Advisors, and HASCO. Prior to joining The Hartford in 2007, Mr. Sloane was Director of product marketing and led the mutual fund business for Wachovia Securities (“Wachovia”) in their investment products group. Mr. Sloane joined Wachovia in 1995.

Jane Wolak (1961) Vice President since 2009

Ms. Wolak currently serves as Vice President of Hartford Life. Ms. Wolak joined Hartford Life as Vice President, Retail Product Services in May 2007. She is also Vice President of HASCO. Previously, Ms. Wolak was with Sun Life Financial where she held the position of Vice President, Service Center Operations from 2001 – 2007.

HOW TO OBTAIN A COPY OF THE FUND’S PROXY VOTING POLICIES AND VOTING RECORDS

A description of the policies and procedures that the Fund uses to determine how to vote proxies relating to portfolio securities and a record of how the Fund voted any proxies for the twelve-month period ended June 30, 2008 is available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov.

QUARTERLY PORTFOLIO HOLDINGS INFORMATION

The Fund files a complete schedule of portfolio holdings with the Commission for the first and third quarters of each fiscal year on Form N-Q. The Fund’s Forms are available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov. The Form N-Q may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330.

22

The Hartford International Small Company Fund

Expense Example (Unaudited)

Your Fund’s Expenses

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments and contingent deferred sales charges (CDSC) (2) ongoing costs including management fees; distribution fees; and other fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the period of October 31, 2008 through April 30, 2009.

Actual Expenses

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

Hypothetical Example for Comparison Purposes

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

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads) and CDSC. Therefore, the second line 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 are equal to the Fund’s annualized expense ratios multiplied by average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

	Actual return						Hypothetical (5% return before expenses)
					Expenses paid						Expenses paid					Days in
					during the period						during the period					the		Days
	Beginning		Ending Account		October 31, 2008		Beginning		Ending Account		October 31,		Annualized			current		in the
	Account Value		Value		through		Account Value		Value		2008 through		expense			1/2		full
	October 31, 2008		April 30, 2009		April 30, 2009		October 31, 2008		April 30, 2009		April 30, 2009		ratio			year		year
Class A	$	1,000.00	$	1,034.85	$	6.71	$	1,000.00	$	1,018.19	$	6.65		1.33	%		181		365
Class B	$	1,000.00	$	1,033.47	$	8.47	$	1,000.00	$	1,016.46	$	8.39		1.68			181		365
Class C	$	1,000.00	$	1,031.11	$	10.47	$	1,000.00	$	1,014.48	$	10.38		2.08			181		365
Class I	$	1,000.00	$	1,035.89	$	6.61	$	1,000.00	$	1,018.29	$	6.55		1.31			181		365
Class Y	$	1,000.00	$	1,036.17	$	5.70	$	1,000.00	$	1,019.19	$	5.65		1.13			181		365

23

The Hartford MidCap Fund

Table of Contents

Manager Discussions (Unaudited)	2
Financial Statements
Schedule of Investments at April 30, 2009 (Unaudited)	4
Statement of Assets and Liabilities at April 30, 2009 (Unaudited)	6
Statement of Operations for the Six Month Period Ended April 30, 2009 (Unaudited)	7
Statement of Changes in Net Assets for the Six Month Period Ended April 30, 2009 (Unaudited) and the Year Ended October 31, 2008	8
Notes to Financial Statements (Unaudited)	9
Financial Highlights (Unaudited)	19
Directors and Officers (Unaudited)	20
How to Obtain a Copy of the Fund’s Proxy Voting Policies and Voting Records (Unaudited)	22
Quarterly Portfolio Holdings Information (Unaudited)	22
Expense Example (Unaudited)	23
Approval of Amended Investment Sub-Advisory Agreement (Unaudited)	24

The Hartford MidCap Fund
(subadvised by Wellington Management Company, LLP)

Performance Overview(1) 4/30/99 — 4/30/09
Growth of a $10,000 investment in Class A which includes Sales Charge

S&P 400 MidCap Index is an unmanaged index of common stocks of companies chosen by S&P designed to represent price movements in the midcap U.S. equity market.

You cannot invest directly in an index.

The value of shares will fluctuate so that, when redeemed, shares may be worth more or less than their original cost. The chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.

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

Investment objective — Seeks long-term growth of capital.

Average Annual Total Returns(2,3,4) (as of 4/30/09)

	Inception		1			5			10			Since
	Date		Year			Year			Year			Inception
MidCap A#		12/31/97		-31.95	%		2.77	%		7.53	%		9.87	%
MidCap A##		12/31/97		-35.70	%		1.61	%		6.92	%		9.33	%
MidCap B#		12/31/97		-32.49	%		1.98	%	NA*			NA*
MidCap B##		12/31/97		-35.87	%		1.75	%	NA*			NA*
MidCap C#		12/31/97		-32.43	%		2.06	%		6.81	%		9.13	%
MidCap C##		12/31/97		-33.10	%		2.06	%		6.81	%		9.13	%
MidCap I#		12/31/97		-31.86	%		2.80	%		7.54	%		9.89	%
MidCap Y#		12/31/97		-31.65	%		3.23	%		8.05	%		10.39	%

#	Without sales charge
##	With sales charge
NA	Not Applicable
*	10 year and inception returns are not applicable for Class B because after 8 years Class B converts to Class A.

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)	Growth of a $10,000 investment in Classes B, C and Y shares will vary from results seen above due to differences in the expenses charged to these share classes.
(2)	The initial investment in Class A shares reflects the maximum sales charge and Classes B and C reflect CDSC.
(3)	Total returns presented above were calculated using the Fund’s net asset value available to shareholders for sale or redemption of Fund shares on April 30, 2009, which excludes investment transactions as of this date.
(4)	Class C shares commenced operations on 7/31/98. Performance prior to 7/31/98 reflects Class B performance less Class C sales charges where applicable. Class I shares commenced operations on 2/27/09. Performance prior to 2/27/09 reflects Class A performance.

Portfolio Manager
Phillip H. Perelmuter
Senior Vice President, Partner

How did the Fund perform?

The Class A shares of The Hartford MidCap Fund returned - -1.65%, before sales charge, for the six-month period ended April 30, 2009, underperforming its benchmark, the S&P MidCap 400 Index, which returned -0.18% for the same period. The Fund outperformed the -1.75% return of the average fund in the Lipper Mid-Cap Core Funds peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

The global equity markets were volatile during the period, reflecting investors’ fluctuating reactions to economic data and the U.S. government’s involvement to help mitigate the financial crisis. The broad U.S. equity market posted negative returns for the period, despite rallying significantly post mid-March lows. Mid cap stocks (-0.2%) outperformed small (-8.4%) and large cap stocks (-8.5%) during the period, as measured by the S&P MidCap 400, Russell 2000 and S&P 500 indices, respectively. Growth stocks (0.7%) significantly out-paced Value (-8.1%) during the period, as measured by the Russell 2500 Growth and Russell 2500 Value indices. Within the S&P MidCap 400 Index, five out of ten sectors posted negative returns. Financials (-14%) and Energy (-7%) lagged the most while Consumer Discretionary (13%) and Information Technology (11%) were the best performers.

Overall underperformance versus the benchmark was driven by weak security selection, primarily within Information Technology, Consumer Discretionary and Energy. This did not offset stronger

2

positive stock selection within Industrials and Financials. Sector allocations, driven by our bottom-up (i.e. stock by stock fundamental research) stock selection process, contributed to relative (i.e. performance of the Fund as measured against the benchmark) returns during the period, primarily due to an underweight (i.e. the Fund’s sector position was less than the benchmark position) position in the weaker-performing Financials sector and overweight (i.e. the Fund’s sector position was greater than the benchmark position) positions in Information Technology and Health Care.

Top detractors from relative performance included M & T Bank (Financials), NCR (Information Technology), and Marsh & McLennan (Financials). Shares of U.S. mid-Atlantic regional bank M&T Bank fell during the period as investors worried about uncertain future loan losses, potential government ownership and regulatory changes. Shares of NCR, an ATM and point-of-sale equipment and services company, declined following the company’s reported drop in quarterly profits and lower-than-expected management guidance. Shares of global reinsurance broker Marsh & McLennan declined as the company faced growing concerns that the adverse global economic and financial environment would pressure results in the firm’s consulting and risk technology divisions.

Top contributors to relative and absolute (i.e. total return) returns included Life Technologies (Health Care), Best Buy (Consumer Discretionary) and O’Reilly Automotive (Consumer Discretionary). Life Technologies, created through the recent merger of Invitrogen and Applied Biosystems, is a provider of tools and cultures used in genetic research and drug development. The company’s shares rose during the period due to Wall Street’s expectations that the company would benefit from strong synergies after the merger. Consumer electronics specialty retailer Best Buy benefited from management’s above-consensus earnings report and increased guidance due to better-than-expected consumer demand and strong sales of notebook computers and mobile phone devices. The company also benefited from the demise of competitor Circuit City, which liquidated their stores earlier in the year. Shares of specialty automotive aftermarket parts retailer O’Reilly Automotive benefited from strong comparable store sales and growing confidence in the synergies from the company’s recent acquisition of CSK Auto.

What is the outlook?

The “leading indicator” we rely on most heavily in selecting stocks for the portfolio is the mosaic of information we are able to glean through our many meetings with company management teams. Right now we are paying particularly close attention to the tone of these meetings to help us divine whether things are getting better or worse. Signs of improvement — or even lessening deterioration — can have a powerful influence on sentiment and stock prices. Broadly speaking, at this point it sounds as though business activity is flattening as opposed to declining: operations have been streamlined, inventories slashed, and expectations reined in. Stabilization alone could lead to some upside surprises. At the same time stimulus programs are rapidly advancing from the idea stage to actual funding. And while credit markets remain tight, they are beginning to show signs of healing.

Our efforts are focused on picking stocks based on a bottom-up review of their fundamentals. As a result of these individual stock decisions, we ended the period with our most significant overweight positions relative to the benchmark in the Information Technology, Consumer Discretionary, and Consumer Staples sectors. Our largest underweights relative to the benchmark were in Industrials, Materials, and Financials.

Diversification by Industry
as of April 30, 2009

	Percentage of
Industry	Net Assets
Banks		2.6	%
Capital Goods		7.5
Commercial & Professional Services		2.5
Consumer Durables & Apparel		2.2
Consumer Services		4.2
Diversified Financials		0.7
Energy		7.4
Food & Staples Retailing		2.4
Food, Beverage & Tobacco		2.1
Health Care Equipment & Services		8.4
Household & Personal Products		0.9
Insurance		8.1
Materials		3.9
Media		2.3
Pharmaceuticals, Biotechnology & Life Sciences		4.3
Real Estate		3.8
Retailing		8.6
Semiconductors & Semiconductor Equipment		2.2
Software & Services		8.4
Technology Hardware & Equipment		5.7
Telecommunication Services		1.0
Transportation		1.1
Utilities		5.1
Short-Term Investments		5.1
Other Assets and Liabilities		(0.5	)
Total		100.0	%

3

The Hartford MidCap Fund

Schedule of Investments

April 30, 2009 (Unaudited)

(000’s Omitted)

Shares or Principal Amount			Market Value ╪
COMMON STOCKS - 95.4%
		Banks - 2.6%
	280	M&T Bank Corp.	$	14,679
	270	People’s United Financial, Inc.		4,224
	861	PNC Financial Services Group, Inc.		34,178
				53,081
		Capital Goods - 7.5%
	687	AMETEK, Inc.		22,119
	440	Illinois Tool Works, Inc.		14,443
	493	Kennametal, Inc.		10,076
	971	Lennox International, Inc.		30,978
	1,094	PACCAR, Inc.		38,778
	387	Parker-Hannifin Corp.		17,555
	243	Precision Castparts Corp.		18,153
				152,102
		Commercial & Professional Services - 2.5%
	200	Dun & Bradstreet Corp.		16,296
	577	Equifax, Inc.•		16,817
	901	Republic Services, Inc.		18,928
				52,041
		Consumer Durables & Apparel - 2.2%
	1,817	Mattel, Inc.		27,181
	37	NVR, Inc. •		18,547
				45,728
		Consumer Services - 4.2%
	324	Apollo Group, Inc. Class A •		20,369
	647	Corinthian Colleges, Inc. •		9,961
	256	DeVry, Inc.		10,878
	205	ITT Educational Services, Inc. •		20,617
	649	Scientific Games Corp. Class A •		11,358
	56	Strayer Education, Inc.		10,645
				83,828
		Diversified Financials - 0.7%
	56	BlackRock, Inc.		8,176
	325	Jefferies Group, Inc.		6,356
				14,532
		Energy - 7.4%
	1,064	Denbury Resources, Inc. •		17,328
	740	Forest Oil Corp. •		11,840
	319	Helmerich & Payne, Inc.		9,844
	699	Nabors Industries Ltd. •		10,626
	608	Noble Energy, Inc.		34,510
	833	Smith International, Inc.		21,533
	717	St. Mary Land & Exploration Co.		12,809
	711	Ultra Petroleum Corp.•		30,414
				148,904
		Food & Staples Retailing - 2.4%
	125	BJ’s Wholesale Club, Inc. •		4,158
	978	Kroger Co.		21,153
	1,404	Supervalu, Inc.		22,947
				48,258
		Food, Beverage & Tobacco - 2.1%
	1,529	Coca-Cola Enterprises, Inc.		26,086
	517	Pepsi Bottling Group, Inc.		16,156
				42,242
		Health Care Equipment & Services - 8.4%
	658	Beckman Coulter, Inc.		34,579
	249	Cerner Corp. •		13,391
	141	Edwards Lifesciences Corp. •		8,905
	283	Humana, Inc. •		8,136
	424	Omnicare, Inc.		10,896
	1,437	Patterson Cos., Inc. •		29,409
	857	St. Jude Medical, Inc. •		28,720
	279	Universal Health Services, Inc. Class B		14,062
	209	Varian Medical Systems, Inc. •		6,964
	323	Zimmer Holdings, Inc. •		14,205
				169,267
		Household & Personal Products - 0.9%
	332	Clorox Co.		18,586
		Insurance - 8.1%
	460	Aflac, Inc.		13,290
	556	AON Corp.		23,463
	264	Axis Capital Holdings Ltd.		6,515
	340	Everest Re Group Ltd.		25,340
	449	Fidelity National Financial, Inc.		8,140
	163	First American Financial Corp.		4,574
	523	Marsh & McLennan Cos., Inc.		11,033
	143	PartnerRe Ltd.		9,772
	2,016	Unum Group		32,943
	1,164	W.R. Berkley Corp.		27,839
	6	White Mountains Insurance Group Ltd.		1,210
				164,119
		Materials - 3.9%
	621	Ball Corp.		23,428
	308	Cliff’s Natural Resources, Inc.		7,111
	286	FMC Corp.		13,912
	278	Mosaic Co.		11,241
	577	Nucor Corp.		23,458
				79,150
		Media - 2.3%
	1,350	DreamWorks Animation SKG, Inc. •		32,405
	530	Scripps Networks Interactive Class A		14,551
				46,956
		Pharmaceuticals, Biotechnology & Life Sciences - 4.3%
	1,310	Amylin Pharmaceuticals, Inc. •		14,336
	646	Life Technologies Corp. •		24,096
	251	Myriad Genetics, Inc. •		9,755
	184	OSI Pharmaceuticals, Inc. •		6,170
	275	Perrigo Co.		7,125
	500	Pharmaceutical Product Development, Inc.		9,795
	555	Regeneron Pharmaceuticals, Inc. •		7,358
	290	Vertex Pharmaceuticals, Inc. •		8,938
				87,573
		Real Estate - 3.8%
	251	CB Richard Ellis Group, Inc. Class A •		1,884
	1,181	Host Hotels & Resorts, Inc.		9,083
	844	Kimco Realty Corp.		10,145
	356	Liberty Property Trust		8,658
	109	Mack-Cali Realty Corp.		2,936
	189	Public Storage		12,659
	116	Regency Centers Corp.		4,361
	547	Simon Property Group, Inc.		28,230
				77,956
		Retailing - 8.6%
	632	Advance Automotive Parts, Inc.		27,628
	148	AutoZone, Inc. •		24,593
	715	Best Buy Co., Inc.		27,453
	1,008	O’Reilly Automotive, Inc. •		39,161
	365	Sherwin-Williams Co.		20,668

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

4

Shares or Principal Amount			Market Value ╪
COMMON STOCKS - 95.4% — (continued)
		Retailing - 8.6% — (continued)
	1,652	Staples, Inc.	$	34,066
				173,569
		Semiconductors & Semiconductor Equipment - 2.2%
	778	Altera Corp.		12,683
	1,125	Lam Research Corp. •		31,371
				44,054
		Software & Services - 8.4%
	544	Adobe Systems, Inc. •		14,886
	419	BMC Software, Inc. •		14,520
	238	Factset Research Systems, Inc.		12,733
	329	Global Payments, Inc.		10,541
	835	Micros Systems. •		17,508
	1,670	Red Hat, Inc. •		28,832
	1,011	VeriSign, Inc. •		20,798
	2,997	Western Union Co.		50,192
				170,010
		Technology Hardware & Equipment - 5.7%
	827	Diebold, Inc.		21,858
	148	Itron, Inc. •		6,790
	526	Juniper Networks, Inc. •		11,390
	1,647	NCR Corp. •		16,714
	2,012	NetApp, Inc. •		36,825
	1,318	Teradata Corp. •		22,032
				115,609
		Telecommunication Services - 1.0%
	637	American Tower Corp. Class A •		20,225
		Transportation - 1.1%
	465	J.B. Hunt Transport Services, Inc.		13,075
	288	Landstar System, Inc.		10,252
				23,327
		Utilities - 5.1%
	1,508	Northeast Utilities		31,692
	1,479	UGI Corp.		33,917
	460	Wisconsin Energy Corp.		18,394
	952	Xcel Energy, Inc.		17,558
				101,561
		Total common stocks (cost $2,087,136)	$	1,932,678
		Total long-term investments (cost $2,087,136)	$	1,932,678
SHORT-TERM INVESTMENTS - 5.1%
		Repurchase Agreements - 5.1%
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $24,362, collateralized by GNMA 4.50% - 6.50%, 2038 - 2039, value of $24,849)
$	24,362	0.18%, 04/30/2009	$	24,362
		BNP Paribas Securities Corp. TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $29,154, collateralized by FHLMC 4.50% - 6.50%, 2035 - 2039, FNMA 4.50% - 6.50%, 2034 - 2047, value of $29,737)
	29,154	0.17%, 04/30/2009		29,154
		Deutsche Bank Securities TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $40,736, collateralized by FHLMC 4.00% - 7.00%, 2021 - 2039, FNMA 6.00% - 7.00%, 2034 - - 2038, GNMA 4.50% - 7.00%, 2024 - 2039, value of $41,551)
	40,736	0.17%, 04/30/2009		40,736
		UBS Securities, Inc. Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $137, collateralized by U.S. Treasury Bond 7.50%, 2024, value of $141)
	137	0.14%, 04/30/2009		137
		UBS Securities, Inc. TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $8,786, collateralized by FHLMC 8.00% - 15.00%, 2009 - 2021, FNMA 3.50% - 15.50%, 2012 - 2039, value of $8,962)
	8,786	0.16%, 04/30/2009		8,786
				103,175
		Total short-term investments (cost $103,175)	$	103,175

Total investments (cost $2,190,311) ▲	100.5	%	$	2,035,853
Other assets and liabilities	(0 .5	)%		(9,477	)
Total net assets	100.0	%	$	2,026,376

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

▲ At April 30, 2009, the cost of securities for federal income tax purposes was $2,202,918 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	138,629
Unrealized Depreciation		(305,694	)
Net Unrealized Depreciation	$	(167,065	)

•	Currently non-income producing.
╪	See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of securities.

FAS 157 Disclosure of Investment Valuation Hierarchy Levels

Assets:
Investment in securities — Level 1	$	1,932,678
Investment in securities — Level 2		103,175
Total	$	2,035,853

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

5

The Hartford MidCap Fund

Statement of Assets and Liabilities

April 30, 2009 (Unaudited)

(000’s Omitted)

Assets:
Investments in securities, at fair value (cost $2,190,311)	$	2,035,853
Cash		1
Receivables:
Investment securities sold		15,929
Fund shares sold		11,810
Dividends and interest		832
Other assets		308
Total assets		2,064,733
Liabilities:
Payables:
Investment securities purchased		33,630
Fund shares redeemed		3,527
Investment management fees		245
Distribution fees		126
Accrued expenses		829
Total liabilities		38,357
Net assets	$	2,026,376
Summary of Net Assets:
Capital stock and paid-in-capital		2,609,764
Accumulated distribution in excess of net investment income		(834	)
Accumulated net realized loss on investments		(428,096	)
Unrealized depreciation of investments		(154,458	)
Net assets	$	2,026,376
Shares authorized		510,000
Par value	$	0.001
Class A: Net asset value per share/Maximum offering price per share	$	14.31/$15.14
Shares outstanding		97,798
Net assets	$	1,399,350
Class B: Net asset value per share	$	12.55
Shares outstanding		11,560
Net assets	$	145,070
Class C: Net asset value per share	$	12.67
Shares outstanding		22,361
Net assets	$	283,420
Class I: Net asset value per share	$	14.33
Shares outstanding		997
Net assets	$	14,290
Class Y: Net asset value per share	$	15.53
Shares outstanding		11,863
Net assets	$	184,246

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

6

The Hartford MidCap Fund

Statement of Operations

For the Six Month Period Ended April 30, 2009 (Unaudited)

(000’s Omitted)

Investment Income:
Dividends	$	11,798
Interest		81
Securities lending		114
Total investment income		11,993
Expenses:
Investment management fees		6,620
Transfer agent fees		2,479
Distribution fees
Class A		1,504
Class B		766
Class C		1,227
Custodian fees		13
Accounting services		122
Registration and filing fees		67
Board of Directors’ fees		21
Audit fees		29
Other expenses		480
Total expenses (before waivers and fees paid indirectly)		13,328
Expense waivers		(209	)
Transfer agent fee waivers		(199	)
Commission recapture		(92	)
Custodian fee offset		(1	)
Total waivers and fees paid indirectly		(501	)
Total expenses, net		12,827
Net investment loss		(834	)
Net Realized Loss on Investments:
Net realized loss on investments in securities		(370,859	)
Net Realized Loss on Investments		(370,859	)
Net Changes in Unrealized Appreciation of Investments:
Net unrealized appreciation of investments		338,571
Net Changes in Unrealized Appreciation of Investments		338,571
Net Loss on Investments		(32,288	)
Net Decrease in Net Assets Resulting from Operations	$	(33,122	)

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

7

The Hartford MidCap Fund

Statement of Changes in Net Assets

(000’s Omitted)

	For the Six-Month
	Period Ended			For the
	April 30, 2009			Year Ended
	(Unaudited)			October 31, 2008
Operations:
Net investment loss	$	(834	)	$	(7,180	)
Net realized loss on investments		(370,859	)		(56,994	)
Net unrealized appreciation (depreciation) of investments		338,571			(1,062,998	)
Net decrease in net assets resulting from operations		(33,122	)		(1,127,172	)
Distributions to Shareholders:
Class A		—			(10,673	)
Class Y		—			(1,203	)
From net realized gain on investments
Class A		—			(324,294	)
Class B		—			(73,929	)
Class C		—			(85,395	)
Class Y		—			(18,628	)
Total distributions		—			(514,122	)
Capital Share Transactions:
Class A		109,063			193,914
Class B		(42,285	)		(54,633	)
Class C		14,616			412
Class I		12,822			—
Class Y		21,537			122,137
Net increase from capital share transactions		115,753			261,830
Net increase (decrease) in net assets		82,631			(1,379,464	)
Net Assets:
Beginning of period		1,943,745			3,323,209
End of period	$	2,026,376		$	1,943,745
Accumulated distribution in excess of net investment loss	$	(834	)	$	—

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

8

The Hartford MidCap Fund

Notes to Financial Statements

April 30, 2009 (Unaudited)

(000’s Omitted)

1.	Organization:
	The Hartford Mutual Funds, Inc. (“Company”) is an open-end management investment company comprised of fifty-two portfolios. Financial statements for The Hartford MidCap Fund (the “Fund”), a series of the Company, are included in this report.
	The Company is organized under the laws of the State of Maryland and is registered with the Securities and Exchange Commission (“SEC”) under the Investment Company Act of 1940, as amended (“1940 Act”). The Fund is a diversified open-end management investment company.
	Class A shares are sold with a front-end sales charge of up to 5.50%. Class B shares are sold with a contingent deferred sales charge which is assessed on the lesser of the per share net asset value (“NAV”) of the shares at the time of redemption or the original purchase price, and declines from up to 5.00% to zero depending on the period of time the shares are held. Class C shares are sold with a contingent deferred sales charge of up to 1.00% on shares redeemed within twelve months of purchase. Class I shares are sold without sales charges to certain eligible investors through advisory fee-based wrap programs. Class Y shares, which are sold to certain eligible institutional investors, are sold without a sales charge. All classes of shares have identical voting, redemption, dividend, liquidation and other rights and the same terms and conditions, with the exceptions that each class may have different expenses, which may affect performance, and except that Class B shares automatically convert to Class A shares after 8 years.
	Effective at the close of business on September 30, 2009 (the “Close Date”), no new or additional investments will be allowed in Class B shares of The Hartford Mutual Funds (including investments through any systematic investment plan). After the Close Date, existing shareholders of Class B shares may continue to hold their Class B shares, exchange their Class B shares for Class B shares of another Hartford Mutual Fund (as permitted by existing exchange privileges), and redeem their Class B shares as described in the Fund’s prospectus. Reinstatement privileges with respect to Class B shares will continue under the current policy. If you have chosen to reinvest capital gains and dividends, any such capital gains or dividends on Class B shares will continue to be reinvested in Class B shares of the Fund. For Class B shares outstanding as of the Close Date, all Class B share attributes, including the 12b-1 fee, contingent deferred sales charge schedule, and conversion to Class A shares remain unchanged.
2.	Significant Accounting Policies:
	The following is a summary of significant accounting policies of the Fund, which are in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”).

a)	Security Transactions and Investment Income - Security transactions are recorded on the trade date (the date the order to buy or sell is executed). Security gains and losses are determined on the basis of identified cost.
	Dividend income is accrued as of the ex-dividend date, except that certain dividends for foreign securities where the ex-dividend date may have passed are recorded as soon as the Fund is informed of the dividend in the exercise of reasonable diligence. Interest income, including amortization of premium and accretion of discounts, is accrued on a daily basis.
b)	Security Valuation - The Fund generally uses market prices in valuing portfolio securities. If market prices are not readily available or are deemed unreliable, the Fund will use the fair value of the security as determined in good faith under policies and procedures established by and under the supervision of the Fund’s Board of Directors. Market prices may be deemed unreliable, for example, if a security is thinly traded or if an event has occurred after the close of the security’s primary markets, but before the close of the New York Stock Exchange (the “Exchange”) (normally 4:00 p.m. Eastern Time, referred to as the “Valuation Time”) that is expected to affect the value of the portfolio security. The circumstances in which the Fund may use fair value pricing include, among others: (i) the occurrence of events that are significant to a particular issuer, such as mergers, restructuring or defaults; (ii) the occurrence of events that are significant to an entire market, such as natural disasters in a particular region or governmental actions; (iii) trading

9

The Hartford MidCap Fund

Notes to Financial Statements - (continued)

April 30, 2009 (Unaudited)

(000’s Omitted)

	restrictions on securities; (iv) thinly traded securities and (v) market events such as trading halts and early market closings. In addition, with respect to the valuation of stocks primarily traded on foreign markets, the Fund uses a fair value pricing service approved by the Fund’s Board of Directors, which employs quantitative models that evaluate changes in the value of foreign market proxies (e.g., futures contracts, ADR’s, exchange traded funds (“ETF’s”)) after the close of the foreign markets but before the close of the Exchange. Securities that are primarily traded on foreign markets may trade on days that are not business days of the Fund. The value of the foreign securities in which the Fund invests may change on days when a shareholder will not be able to purchase or redeem shares of the Fund. Fair value pricing is subjective in nature and the use of fair value pricing by the Fund may cause the NAV of its shares to differ significantly from the NAV that would have been calculated using market prices at the close of the exchange on which a portfolio security is primarily traded but before the close of the Exchange. There can be no assurance that the Fund could obtain the fair value assigned to a security if the Fund were to sell the security at approximately the time at which the Fund determines its NAV.
	Exchange traded equity securities shall be valued at the last reported sale price on the exchange or market on which the security is primarily traded (the “Primary Market”) at the Valuation Time. If the security did not trade on the Primary Market, it may be valued at the Valuation Time at the last reported sale price on another exchange where it trades. The value of an equity security not traded on any exchange but traded on the Nasdaq Stock Market, Inc. (“Nasdaq”) or another over-the-counter market shall be valued at the last reported sale price or official closing price on the exchange or market on which the security is traded as of the Valuation Time. If it is not possible to determine the last reported sale price or official closing price on the relevant exchange or market at the Valuation Time, the value of the security shall be taken to be the most recent mean between bid and asked prices on such exchange or market at the Valuation Time.
	Securities of foreign issuers and non-dollar securities are translated from the local currency into U.S. dollars using prevailing exchange rates.
	Financial instruments for which prices are not available from an independent pricing service are valued using market quotations obtained from one or more dealers that make markets in securities in accordance with procedures established by the Fund’s Board of Directors.
	A forward currency contract shall be valued based on the price of the underlying currency at the prevailing interpolated exchange rate, which is a combination of the spot currency rate and the forward currency rate. Spot currency rates and forward currency rates are obtained from an independent pricing service on a daily basis not more than one hour before the Valuation Time.
	Other derivative or contractual type instruments shall be valued using market prices if such instruments trade on an exchange or market. If such instruments do not trade on an exchange or market, such instruments shall be valued at a price at which the counterparty to such contract would repurchase the instrument. In the event that the counterparty cannot provide a price, such valuation may be determined in accordance with procedures established by the Fund’s Board of Directors.
c)	Foreign Currency Transactions - The accounting records of the Fund are maintained in U.S. dollars. All assets and liabilities initially expressed in foreign currencies are converted into U.S. dollars at the prevailing exchange rates. Purchases and sales of investment securities, dividend and interest income and certain expenses are translated at the rates of exchange prevailing on the respective dates of such transactions.
	The Fund does not isolate that portion of portfolio security valuation resulting from fluctuations in the foreign currency exchange rates on portfolio securities from the fluctuations arising from changes in the market prices of securities held. Such fluctuations are included with the net realized and unrealized gain or loss on investments in the accompanying financial statements.

10

	Net realized foreign exchange gains or losses arise from sales of foreign currencies and the difference between asset and liability amounts initially stated in foreign currencies and the U.S. dollar value of the amounts actually received or paid. Net unrealized foreign exchange gains or losses arise from changes in the value of other assets and liabilities at the end of the reporting period, resulting from changes in the exchange rates.
d)	Securities Lending - The Fund may lend its securities to certain qualified brokers who pay the Fund negotiated lender fees. The loans are fully collateralized at all times with cash and/or U.S. Government Securities and/or repurchase agreements. The cash collateral is then invested in short-term money market instruments. The repurchase agreements are fully collateralized by U.S. Government Securities. The adequacy of the collateral for securities on loan is monitored on a daily basis. For instances where the market value of collateral falls below the market value of the securities out on loan, such collateral is supplemented on the following business day.
	While securities are on loan, the Fund is subject to the following risks: 1) that the borrower may default on the loan and that the collateral could be inadequate in the event the borrower defaults, 2) that the earnings on the collateral invested may not be sufficient to pay fees incurred in connection with the loan, 3) that the principal value of the collateral invested may decline and may not be sufficient to pay back the borrower for the amount of the collateral posted, 4) that the borrower may use the loaned securities to cover a short sale which may place downward pressure on the market prices of the loaned securities, 5) that return of loaned securities could be delayed and could interfere with portfolio management decisions and 6) that any efforts to recall the securities for purposes of voting a proxy may not be effective. The Fund had no securities out on loan as of April 30, 2009.
e)	Joint Trading Account - Pursuant to an exemptive order issued by the SEC, the Fund may transfer uninvested cash balances into a joint trading account managed by Wellington Management Company, LLP (“Wellington”). These balances may be invested in one or more repurchase agreements and/or short-term money market instruments.
f)	Repurchase Agreements - A repurchase agreement is an agreement by which the seller of a security agrees to repurchase the security sold at a mutually agreed upon time and price. At the time the Fund enters into a repurchase agreement, the value of the underlying collateral security(ies), including accrued interest, will be equal to or exceed the value of the repurchase agreement. Securities that serve to collateralize the repurchase agreement are held by the Fund’s custodian in book entry or physical form in the custodial account of the Fund or in a third party custodial account. Repurchase agreements are valued at cost plus accrued interest. The Fund, as shown on the Schedule of Investments, had outstanding repurchase agreements as of April 30, 2009.
g)	Forward Foreign Currency Contracts - The Fund may enter into forward foreign currency contracts that obligate the Fund to repurchase/replace or sell currencies at specified future dates. Forward foreign currency contracts may be used to hedge against adverse fluctuations in exchange rates between currencies.
	Forward foreign currency contracts involve elements of market risk in excess of the amount reflected in the Statement of Assets and Liabilities. In addition, risks may arise upon entering into these contracts from the potential inability of the counterparties to meet the terms of the contracts and from unanticipated movements in the value of the foreign currencies relative to the U.S. dollar.
h)	Indexed Securities - The Fund may invest in indexed securities whose values are linked to changes in interest rates, indices, or other underlying instruments. The Fund uses these securities to increase or decrease its exposure to different underlying instruments and to gain exposure to markets that might be difficult to invest in using conventional securities. Indexed securities may be more volatile than their underlying instruments, but any loss is limited to the amount of the original investment and there may be a limit to the potential appreciation of the investment. The Fund had no investments in indexed securities as of April 30, 2009.
i)	Fund Share Valuation and Dividend Distributions to Shareholders - Orders for the Fund’s shares are executed in accordance with the investment instructions of the shareholders. The NAV of the Fund’s shares is determined as of the close of each business day of the Exchange. The NAV is determined separately for each class of the Fund by dividing the

11

The Hartford MidCap Fund

Notes to Financial Statements - (continued)

April 30, 2009 (Unaudited)

(000’s Omitted)

	Fund’s net assets attributable to that class by the number of shares of the class outstanding. Orders for the purchase of the Fund’s shares prior to the close of the Exchange on any day on which the Exchange is open for business are priced at the NAV determined as of the close of the Exchange. Orders after the close of the Exchange, or on a day on which the Exchange and/or the Fund is not open for business, are priced at the next determined NAV.
	The Fund intends to distribute substantially all of its net investment income and net realized capital gains to shareholders no less frequently than once a year. Normally, dividends from net investment income are declared and paid annually. Dividends are paid on shares beginning on the business day after the day when the funds used to purchase the shares are collected by the transfer agent for the Fund. Unless shareholders specify otherwise, all dividends will be automatically reinvested in additional full or fractional shares of the Fund.
	Distributions from net investment income, realized capital gains and capital are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP with respect to character and timing. These differences include but are not limited to foreign currency gains and losses, losses deferred due to wash sales adjustments, adjustments related to Passive Foreign Investment Companies and certain derivatives, and excise tax regulations. Permanent book and federal income tax basis differences relating to shareholder distributions will result in reclassifications to certain of the Fund’s capital accounts (see Federal Income Taxes: Reclassification of Capital Accounts footnote).
j)	Illiquid and Restricted Securities — The Fund is permitted to invest up to 15% of its net assets in illiquid securities. “Illiquid Securities” are those that may not be sold or disposed of in the ordinary course of business within seven days, at approximately the price used to determine the Fund’s NAV. The Fund may not be able to sell illiquid securities or other investments when its sub-adviser considers it desirable to do so or may have to sell such securities or investments at a price that is lower than the price that could be obtained if the securities or investments were more liquid. A sale of illiquid securities or other investments may require more time and may result in higher dealer discounts and other selling expenses than does the sale of those that are liquid. Illiquid securities and investments also may be more difficult to value, due to the unavailability of reliable market quotations for such securities or investments, and investment in them may have an adverse impact on the Fund’s NAV. The Fund may also purchase certain restricted securities, commonly known as Rule 144A securities, that can be resold to institutions and which may be determined to be liquid pursuant to policies and guidelines established by the Fund’s Board of Directors. The Fund had no illiquid or restricted securities as of April 30, 2009.
k)	Use of Estimates — The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and the reported amounts of income and expenses during the period. Operating results in the future could vary from the amounts derived from management’s estimates.
l)	Financial Accounting Standards Board Financial Accounting Standards No. 157 — Effective November 1, 2008, the Fund adopted Financial Accounting Standards Board (“FASB”) Statement of Financial Accounting Standards No. 157, “Fair Value Measurements” (“FAS 157”). This standard clarifies the definition of fair value for financial reporting, establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements. Fair value is defined under FAS 157 as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Under FAS 157, a fair value measurement should reflect all of the assumptions that market participants would use in pricing the asset or liability, including assumptions about the risk inherent in a particular valuation technique, the effect of a restriction on the sale or use of an asset, and the risk of nonperformance.
	Various inputs are used in determining the value of the Fund’s investment. These inputs are summarized, per FAS 157, into three broad hierarchy levels. This hierarchy is based on whether the valuation inputs are observable or unobservable. These levels are:

12

• Level 1 — Quoted prices in active markets for identical securities. Level 1 includes exchange-traded instruments such as domestic equities, some foreign equities, options, futures, mutual funds, ETF’s, and rights and warrants.

• Level 2 — Observable inputs other than Level 1 prices, such as quoted prices for similar securities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the security. Level 2 includes debt securities that are traded less frequently than exchange-traded instruments and that are valued using third party pricing services and foreign equities, whose value is determined using a multi-factor regression model with inputs that are observable in the market; and money market instruments, which are carried at amortized cost.

• Level 3 — Significant unobservable inputs that are supported by little or no market activity. Level 3 includes financial instruments whose values are determined using broker quotes and require significant management judgment or estimation. This category includes broker quoted securities, long dated OTC options and securities where trading has been halted or there are certain restrictions on trading. While these securities are priced using unobservable inputs, the valuation of these securities reflects the best available data and management believes the prices are a good representation of exit price.

	Individual securities within any of the above mentioned asset classes may be assigned a different hierarchical level than those presented above, as individual circumstances dictate.
	FAS 157 also requires that a roll forward reconciliation be shown for all Level 3 securities from the beginning of the reporting period to the end of the reporting period. Part of this reconciliation includes transfers in and/or out of Level 3. For purposes of this reconciliation, transfers in are shown at the end of period fair value and transfers out are shown at the beginning of period fair value. During the six-month period ended April 30, 2009, the Fund held no Level 3 securities.
	Refer to the valuation hierarchy levels summary found following the Schedule of Investments.
	FASB Staff Position No. 157-4 — In April 2009, FASB released FASB Staff Position No. 157-4, “Determining Fair Value When the Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly” (“FSP FAS 157-4”). FSP FAS 157-4 provides additional guidance on determining whether a market for a financial asset is not active and a transaction is not distressed when measuring fair value under FAS 157. The FSP also requires additional disclosure detail on debt and equity securities by major investment categories. FSP FAS 157-4 is effective for interim and annual periods ending after June 15, 2009. At this time, management is evaluating the implications of FSP FAS 157-4 and does not believe it will impact valuation but will require additional disclosure. This additional disclosure has not yet been implemented.
m)	Financial Accounting Standards Board Financial Accounting Standards No. 161 — In March 2008, the FASB released Statement of Financial Accounting Standards No. 161, “Disclosures about Derivative Instruments and Hedging Activities” (“FAS 161”). FAS 161 requires companies to disclose information detailing the objectives and strategies for using derivative instruments, the level of derivative activity entered into by the company and any credit risk-related contingent features of the agreements. The application of FAS 161 is required for fiscal years and interim periods beginning after November 15, 2008. At this time, management is evaluating the implications of FAS 161 and has not yet implemented the new disclosure standard.
n)	Indemnifications: Under the Company’s organizational documents, the Company shall indemnify its officers and directors to the full extent required or permitted under Maryland General Corporation Law and the federal securities law. In addition, the Company, on behalf of the Fund, may enter into contracts that contain a variety of indemnifications. The Company’s maximum exposure under these arrangements is unknown. However, the Company has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote.

13

The Hartford MidCap Fund

Notes to Financial Statements - (continued)

April 30, 2009 (Unaudited)

(000’s Omitted)

3. Federal Income Taxes:

a)

Federal Income Taxes - For federal income tax purposes, the Fund intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code (“IRC”) by distributing substantially all of its taxable net investment income and net realized capital gains to its shareholders and otherwise complying with the requirements of regulated investment companies. The Fund has distributed substantially all of its income and capital gains in prior years and the Fund intends to distribute substantially all of its income and gains during the calendar year ending December 31, 2009. Accordingly, no provision for federal income or excise taxes has been made in the accompanying financial statements. Distributions from short-term capital gains are treated as ordinary income distributions for federal income tax purposes.

b)

The tax character of distributions paid by the Fund for the periods indicated is as follows (as adjusted for dividends payable):

	For the Year Ended		For the Year Ended
	October 31, 2008		October 31, 2007
Ordinary Income	$	151,000	$	42,383
Long-Term Capital Gains *		363,122		439,002

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

As of October 31, 2008, the Fund’s components of distributable earnings (deficit) on a tax basis were as follows:

	Amount
Accumulated Capital Losses*	$	(44,630	)
Unrealized Depreciation†	$	(505,636	)
Total Accumulated Deficit	$	(550,266	)

*	The Fund has capital loss carryforwards that are identified in the Capital Loss Carryforward note that follows.
†	The differences between book-basis and tax-basis unrealized appreciation (depreciation) are attributable to the tax deferral of wash sales losses, the mark-to-market adjustment for certain derivatives in accordance with IRC Sec. 1256, the mark to market for Passive Foreign Investment Companies and basis differences in real estate investment trusts.

c)

Reclassification of Capital Accounts - In accordance with American Institute of Certified Public Accountants (AICPA) Statement of Position 93-2, Determination, Disclosure, and Financial Statement Presentation of Income, Capital Gain, and Return of Capital Distributions by Investment Companies, the Fund has recorded reclassifications in its capital accounts. These reclassifications had no impact on the NAV of the Fund. The reclassifications are a result of permanent differences between GAAP and tax accounting for such items as net operating losses that reduce distribution requirements. Adjustments are made to reflect the impact these items have on current and future distributions to shareholders. Therefore, the source of the Fund’s distributions may be shown in the accompanying Statement of Changes in Net Assets as from net investment income, from net realized gains on investments or from capital depending on the type of book and tax differences that exist. As of October 31, 2008, the Fund recorded reclassifications to increase undistributed net investment income by $7,193, increase accumulated net realized gain by $662, and decrease paid in capital by $7,855.

d)

Capital Loss Carryforward - At October 31, 2008 (tax-year-end), the Fund had capital loss carryforwards for U.S. federal income tax purposes of approximately:

14

Year	Amount
2016	$	44,630
Total	$	44,630

e) Financial Accounting Standards Board Interpretation No. 48 — On July 13, 2006, the FASB released FASB Interpretation No. 48 “Accounting for Uncertainty in Income Taxes” (“FIN 48”). FIN 48 provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. The Fund adopted FIN 48 for fiscal years beginning after December 15, 2006. Management has evaluated the implications of FIN 48 for all open tax years (tax years ended October 31, 2006 — 2008) and has determined there is no impact to the Fund’s financial statements.

4. Expenses:

a)

Investment Management Agreements — Hartford Investment Financial Services, LLC (“HIFSCO”) serves as investment manager to the Fund pursuant to an Investment Management Agreement with The Hartford Mutual Funds, Inc. As investment manager, HIFSCO has overall investment supervisory responsibility for the Fund. In addition, HIFSCO provides administrative personnel, services, equipment, facilities and office space for proper operation of the Fund. HIFSCO has contracted with Wellington for the provision of day-to-day investment management services to the Fund in accordance with the Fund’s investment objective and policies. The Fund pays a fee to HIFSCO, a portion of which may be used to compensate Wellington.

The schedule below reflects the rates of compensation paid to HIFSCO for investment management services rendered during the six-month period ended April 30, 2009; the rates are accrued daily and paid monthly:

Average Daily Net Assets	Annual Fee
On first $500 million		0.8500	%
On next $500 million		0.7500	%
On next $4 billion		0.7000	%
On next $5 billion		0.6975	%
Over $10 billion		0.6950	%

b) Accounting Services Agreement — Pursuant to the Fund Accounting Agreement between Hartford Life Insurance Company (“HLIC”) and the Fund, HLIC provides accounting services to the Fund and receives monthly compensation on the Fund’s average net assets. The Fund’s accounting service fees are accrued daily and paid monthly.

Average Daily Net Assets	Annual Fee
On first $5 billion		0.014	%
On next $5 billion		0.012	%
Over $10 billion		0.010	%

c) Operating Expenses - Allocable expenses incurred by the Company are allocated to each Fund and allocated to classes within the Fund in proportion to the average daily net assets of the Fund and each class, except where allocation of certain expenses is more fairly made directly to the Fund or to specific classes within a Fund. During the six-month period ended April 30, 2009, HIFSCO has contractually limited the total operating expenses of this Fund, exclusive of taxes, interest expense, brokerage commissions, certain distribution expenses and extraordinary expenses as follows:

Class A	Class B	Class C	Class I			Class Y
1.37%	NA	NA		1.12	%	NA

d) Fees Paid Indirectly - The Fund has entered into agreements with State Street Global Markets, LLC and Russell Implementation Services Inc. to partially recapture non-discounted trade commissions. Such rebates are used to pay a portion of the Fund’s expenses. In addition, the Fund’s custodian bank has also agreed to reduce its fees when the Fund

15

The Hartford MidCap Fund

Notes to Financial Statements - (continued)

April 30, 2009 (Unaudited)

(000’s Omitted)

maintains cash on deposit in the non-interest-bearing custody account. For the six-month period ended April 30, 2009, these amounts are included in the Statement of Operations.

The ratio of expenses to average net assets in the accompanying financial highlights excludes the reduction in expenses related to fees paid indirectly. Had the fees paid indirectly been included, the annualized expense ratio for the periods listed below would have been as follows:

	Annualized
	Six-Month
	Period			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended
	Ended April			October 31,			October 31,			October 31,			October 31,			October 31,
	30, 2009			2008			2007			2006			2005			2004
Class A Shares		1.34	%		1.23	%		1.21	%		1.25	%		1.28	%		1.36	%
Class B Shares		2.14			2.00			1.98			2.01			2.06			2.10
Class C Shares		2.05			1.91			1.90			1.93			1.97			2.00
Class I Shares		1.09	*
Class Y Shares		0.84			0.79			0.78			0.78	��		0.81			0.84

* From February 27, 2009 (commencement of operations), through April 30, 2009

e)	Distribution and Service Plan for Class A, B and C Shares - HIFSCO is the principal underwriter and distributor of the Fund. HIFSCO is engaged in distribution activities, which include marketing and distribution of shares through broker-dealers, financing distribution costs and maintaining financial books and records. For the six-month period ended April 30, 2009, HIFSCO received front-end load sales charges of $3,270 and contingent deferred sales charges of $47 from the Fund.
	The Fund has adopted Distribution and Service Plans in accordance with Rule 12b-1 of the Investment Company Act of 1940, as amended, to compensate the distributor (HIFSCO) for activities intended to result in the sale and distribution of Classes A, B and C shares and for providing services for shareholders. The Rule 12b-1 plan applicable to Class A shares of the Funds provides for payment of a Rule 12b-1 fee of up to 0.35% of average daily net assets; however, the Board of Directors has currently authorized 12b-1 payments of only up to 0.25%. Some or all of the fee may be used for shareholder servicing expenses with the remainder used for distribution expenses. Some or the entire Rule 12b-1 fee for Class B shares may be remitted to broker-dealers for distribution and/or shareholder account services. Under the Class B Plan, the Fund pays the distributor 1.00% of the average daily net assets of Class B shares that are outstanding for 8 years or less, 0.25% of which is a fee for services provided to existing shareholders with the remainder used for distribution expenses. After eight years, Class B shares convert to Class A shares. Upon conversion to Class A shares, the Class A plan described above will apply to those shares. Under the Class C Plan, the Fund pays the Distributor 1.00% of the average daily net assets of Class C shares outstanding, 0.25% of which is intended as a fee for services provided to existing shareholders with the remainder used for distribution expenses. For Class C shares, some or the entire fee may be remitted to broker-dealers for distribution and/or shareholder account services. The Fund’s 12b-1 fees are accrued daily and paid monthly.
	For the six-month period ended April 30, 2009, total sales commissions paid to affiliated brokers/dealers of The Hartford for distributing the Fund’s shares were $55. These commissions are in turn paid to sales representatives of the broker/dealers.
f)	Other Related Party Transactions — Certain officers of the Fund are directors and/or officers of HIFSCO and/or The Hartford or its subsidiaries. For the six-month period ended April 30, 2009, a portion of the Fund’s chief compliance officer’s salary was paid by the Fund in the amount of $3. Hartford Administrative Services Company (“HASCO”), an indirect wholly owned subsidiary of The Hartford, provides transfer agent services to the Fund. HASCO was compensated $2,318 for providing such services. These fees are accrued daily and paid monthly.

16

g)	Payments from Affiliate:
	The total return in the accompanying financial highlights includes payment from affiliates. Had the payment from affiliates been excluded, the total return for the periods listed below would have been as follows:

	Impact from			Total Return
	Payment from			Excluding
	Affiliate for SEC			Payment from
	Settlement for the			Affiliate for the
	Year Ended			Year Ended
	October 31, 2007			October 31, 2007
Class A		0.08	%		25.86	%
Class B		0.09			24.87
Class C		0.09			24.97
Class Y		0.08			26.40

5.	Affiliate Holdings:
	As of April 30, 2009, affiliates of The Hartford had ownership of shares in the Fund as follows:

	Shares
Class I		8

6.	Investment Transactions:
	For the six-month period ended April 30, 2009, the Fund’s aggregate purchases and sales of investment securities (excluding short-term investments) were as follows:

	Amount
Cost of Purchases Excluding U.S. Government Obligations	$	942,271
Sales Proceeds Excluding U.S. Government Obligations		891,615

17

The Hartford MidCap Fund

Notes to Financial Statements - (continued)

April 30, 2009 (Unaudited)

(000’s Omitted)

7.	Capital Share Transactions:
	The following information is for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	For the Six-Month Period Ended April 30, 2009												For the Year Ended October 31, 2008
			Shares					Shares							Shares					Shares
			Issued for					Issued		Net Increase					Issued for					Issued		Net Increase
	Shares		Reinvested		Shares			from		(Decrease) of			Shares		Reinvested		Shares			from		(Decrease) of
	Sold		Dividends		Redeemed			Merger		Shares			Sold		Dividends		Redeemed			Merger		Shares
Class A
Shares		23,719		—		(15,964	)		—		7,755			11,241		15,211		(18,426	)		—		8,026
Amount	$	312,963	$	—	$	(203,900	)	$	—	$	109,063		$	222,250	$	326,053	$	(354,389	)	$	—	$	193,914
Class B
Shares		1,002		—		(4,720	)		—		(3,718	)		174		3,713		(7,388	)		—		(3,501	)
Amount	$	11,658	$	—	$	(53,943	)	$	—	$	(42,285	)	$	3,113	$	70,283	$	(128,029	)	$	—	$	(54,633	)
Class C
Shares		4,416		—		(3,286	)		—		1,130			258		4,118		(4,803	)		—		(427	)
Amount	$	52,050	$	—	$	(37,434	)	$	—	$	14,616		$	4,710	$	78,620	$	(82,918	)	$	—	$	412
Class I
Shares		1,047		—		(50	)		—		997			—		—		—			—		—
Amount	$	13,512	$	—	$	(690	)	$	—	$	12,822		$	—	$	—	$	—		$	—	$	—
Class Y
Shares		4,224		—		(2,730	)		—		1,494			6,624		845		(1,795	)		—		5,674
Amount	$	59,789	$	—	$	(38,252	)	$	—	$	21,537		$	140,256	$	19,580	$	(37,699	)	$	—	$	122,137

The following reflects the conversion of Class B Shares into Class A Shares (reflected as Class A Shares issued and Class B shares redeemed) for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	Shares		Dollars
For the Six-Month Period Ended April 30, 2009		1,791	$	23,406
For the Year Ended October 31, 2008		2,209	$	43,482

8.	Line of Credit:
	The Fund is one of several Hartford Funds that participate in a $500 million committed revolving line of credit facility. The facility is to be used for temporary or emergency purposes. Under the arrangement, the Fund is required to own securities having a market value in excess of 300% of the total bank borrowings. The interest rate on borrowings varies depending on the nature of the loan. The facility also requires a fee to be paid based on the amount of the commitment. During the six-month period ended April 30, 2009, the Fund did not have any borrowings under this facility.
9.	Industry Classifications:
	Other than the industry classifications “Other Investment Pools and Funds” and “Exchange Traded Funds”, equity industry classifications used in this report are the Global Industry Classification Standard, which was developed by and is the exclusive property and service mark of MSCI, Inc. and Standard & Poor’s.

18

The Hartford MidCap Fund

Financial Highlights — (Unaudited)

	- Selected Per-Share Data - (a)																								- Ratios and Supplemental Data -
																																			Ratio of			Ratio of			Ratio of
																																			Expenses			Expenses			Expenses
																																			to Average			to Average			to Average
																																			Net Assets			Net Assets			Net Assets
																																			Before			After			After
								Net																											Waivers			Waivers			Waivers
								Realized																											and			and			and			Ratio of
								and Un-									Distrib-								Net										Reimburse-			Reimburse-			Reimburse-			Net
			Net			Pay-		realized						Dividends			utions								Increase			Net							ments and			ments and			ments and			Invest-			Port-
	Net Asset		Invest-			ments		Gain						from Net			from			Distri-					(Decrease)			Asset					Net Assets		Including			Including			Excluding			ment			folio
	Value at		ment			from		(Loss) on			Total from			Invest-			Realized			butions		Total			in Net			Value at					at End of		Expenses			Expenses			Expenses			Income to			Turn-
	Beginning		Income			(to)		Invest-			Investment			ment			Capital			from		Distri-			Asset			End of		Total			Period		not Subject			not Subject			not Subject			Average			over
Class	of Period		(Loss)			Affiliate		ments			Operations			Income			Gains			Capital		butions			Value			Period		Return(b)			(000’s)		to Cap(c)			to Cap(c)			to Cap(c)			Net Assets			Rate(d)
For the Six-Month Period Ended April 30, 2009 (Unaudited)
A	$	14.55	$	—		$	—	$	(0.24	)	$	(0.24	)	$	—		$	—		$	—	$	—		$	(0.24	)	$	14.31		(1.65)	%(e)	$	1,399,350		1.41	%(f)		1.35	%(f)		1.35	%(f)		0.03	%(f)		51	%
B		12.81		(0.04	)		—		(0.22	)		(0.26	)		—			—			—		—			(0.26	)		12.55		(2.03	) (e)		145,070		2.21	(f)		2.14	(f)		2.14	(f)		(0.74	) (f)		—
C		12.93		(0.04	)		—		(0.22	)		(0.26	)		—			—			—		—			(0.26	)		12.67		(2.01	) (e)		283,420		2.05	(f)		2.05	(f)		2.05	(f)		(0.67	) (f)		—
I(g)		12.12		—			—		2.21			2.21			—			—			—		—			2.21			14.33		18.23	(e)		14,290		1.09	(f)		1.09	(f)		1.09	(f)		(0.19	) (f)		—
Y		15.75		0.03			—		(0.25	)		(0.22	)		—			—			—		—			(0.22	)		15.53		(1.40	) (e)		184,246		0.84	(f)		0.84	(f)		0.84	(f)		0.53	(f)		—
For the Year Ended October 31, 2008 (h)
A		26.89		(0.02	)		—		(8.25	)		(8.27	)		(0.11	)		(3.96	)		—		(4.07	)		(12.34	)		14.55		(35.56	)		1,310,085		1.23			1.23			1.23			(0.09	)		94
B		24.23		(0.16	)		—		(7.30	)		(7.46	)		—			(3.96	)		—		(3.96	)		(11.42	)		12.81		(36.07	)		195,738		2.01			2.01			2.01			(0.86	)		—
C		24.40		(0.14	)		—		(7.37	)		(7.51	)		—			(3.96	)		—		(3.96	)		(11.47	)		12.93		(36.01	)		274,583		1.92			1.92			1.92			(0.77	)		—
Y		28.74		0.08			—		(8.91	)		(8.83	)		(0.20	)		(3.96	)		—		(4.16	)		(12.99	)		15.75		(35.28	)		163,339		0.79			0.79			0.79			0.36			—
For the Year Ended October 31, 2007
A		25.31		0.05			0.02		5.53			5.60			—			(4.02	)		—		(4.02	)		1.58			26.89		25.96	(i)		2,205,026		1.22			1.22			1.22			0.20			76
B		23.35		(0.13	)		0.02		5.01			4.90			—			(4.02	)		—		(4.02	)		0.88			24.23		24.98	(i)		454,927		1.99			1.99			1.99			(0.52	)		—
C		23.47		(0.11	)		0.02		5.04			4.95			—			(4.02	)		—		(4.02	)		0.93			24.40		25.08	(i)		528,342		1.91			1.91			1.91			(0.44	)		—
Y		26.68		0.28			0.03		5.77			6.08			—			(4.02	)		—		(4.02	)		2.06			28.74		26.50	(i)		134,914		0.79			0.79			0.79			0.73			—
For the Year Ended October 31, 2006
A		26.32		(0.03	)		—		3.44			3.41			—			(4.42	)		—		(4.42	)		(1.01	)		25.31		14.84			1,837,361		1.27			1.27			1.27			(0.13	)		84
B		24.77		(0.22	)		—		3.22			3.00			—			(4.42	)		—		(4.42	)		(1.42	)		23.35		13.97			449,488		2.04			2.04			2.04			(0.90	)		—
C		24.86		(0.20	)		—		3.23			3.03			—			(4.42	)		—		(4.42	)		(1.39	)		23.47		14.06			499,039		1.96			1.96			1.96			(0.82	)		—
Y		27.42		0.08			—		3.60			3.68			—			(4.42	)		—		(4.42	)		(0.74	)		26.68		15.31			184,149		0.81			0.81			0.81			0.33			—
For the Year Ended October 31, 2005
A		22.61		(0.05	)		—		4.24			4.19			—			(0.48	)		—		(0.48	)		3.71			26.32		18.85			1,677,327		1.30			1.30			1.30			(0.20	)		74
B		21.47		(0.24	)		—		4.02			3.78			—			(0.48	)		—		(0.48	)		3.30			24.77		17.92			464,175		2.08			2.08			2.08			(0.98	)		—
C		21.52		(0.22	)		—		4.04			3.82			—			(0.48	)		—		(0.48	)		3.34			24.86		18.07			499,502		1.99			1.99			1.99			(0.89	)		—
Y		23.43		0.07			—		4.40			4.47			—			(0.48	)		—		(0.48	)		3.99			27.42		19.40			139,273		0.83			0.83			0.83			0.26			—
For the Year Ended October 31, 2004
A		20.58		(0.09	)		—		2.12			2.03			—			—			—		—			2.03			22.61		9.86			1,544,968		1.37			1.37			1.37			(0.41	)		52
B		19.68		(0.25	)		—		2.04			1.79			—			—			—		—			1.79			21.47		9.10			438,658		2.11			2.11			2.11			(1.15	)		—
C		19.71		(0.23	)		—		2.04			1.81			—			—			—		—			1.81			21.52		9.18			484,268		2.02			2.02			2.02			(1.06	)		—
Y		21.21		0.02			—		2.20			2.22			—			—			—		—			2.22			23.43		10.47			104,534		0.85			0.85			0.85			0.11			—

(a)	Information presented relates to a share outstanding throughout the indicated period.
(b)	Assumes initial investment at net asset value at the beginning of each period, reinvestment of all distributions, the complete redemption of the investment at net asset value at the end of each period and no sales charge. Total return would be reduced if sales charges were taken into account.
(c)	Ratios do not include fees paid indirectly (See Expenses in the accompanying Notes to Financial Statements).
(d)	Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between the classes of shares issued.
(e)	Not annualized.
(f)	Annualized.
(g)	Commenced operations on February 27, 2009.
(h)	Per share amounts have been calculated using average shares outstanding method.
(i)	Total return without the inclusion of the Payments from (to) Affiliate, as noted on the Statement of Operations, can be found in Expenses in the accompanying Notes to Financial Statements.

19

The Hartford MidCap Fund

Directors and Officers (Unaudited)

The Board of Directors appoints officers who are responsible for the day-to-day operations of the Fund and who execute policies formulated by the Directors. Each director serves until his or her death, resignation, or retirement or until the next annual meeting of shareholders is held or until his or her successor is elected and qualifies.

Directors and officers who are employed by or who have a financial interest in The Hartford are considered “interested” persons of the Fund pursuant to the Investment Company Act of 1940, as amended. Each officer and three of the Fund’s directors, as noted in the chart below, are “interested” persons of the Fund. Each director serves as a director for The Hartford Mutual Funds, Inc., The Hartford Mutual Funds II, Inc., The Hartford Income Shares Fund, Inc., Hartford Series Fund, Inc., and Hartford HLS Series Fund II, Inc., which collectively consist of 100 funds. Correspondence may be sent to directors and officers c/o Hartford Mutual Funds, P.O. Box 2999, Hartford, Connecticut 06104-2999, except that correspondence to Ms. Fagely may be sent to 500 Bielenberg Drive, Woodbury, Minnesota 55125.

The table below sets forth, for each director and officer, his or her name, year of birth, current position with the Fund and date first elected or appointed to The Hartford Mutual Funds, Inc. (“MF”) and The Hartford Mutual Funds II, Inc. (“MF2”), principal occupation, and, for directors, other directorships held. The Fund’s statement of additional information contains further information on the directors and is available free of charge by calling 1-888-843-7824 or writing to Hartford Mutual Funds, P.O. Box 64387, St. Paul, MN 55164-0387.

Information on the aggregate remuneration paid to the directors of the Fund can be found in the Statement of Operations herein. The Fund pays a portion of the Chief Compliance Officer’s compensation, but does not pay salaries or compensation to any of its officers or directors who are employed by The Hartford.

Non-Interested Directors

Lynn S. Birdsong (1946) Director since 2003, Co-Chairman of the Investment Committee

Mr. Birdsong is a private investor. Since 1981, Mr. Birdsong has been a partner in Birdsong Company, an advertising specialty firm. Since 2003, Mr. Birdsong has been an independent director of The Japan Fund. From 2003 to March 2005, Mr. Birdsong was an independent director of the Atlantic Whitehall Funds. From 1979 to 2002, Mr. Birdsong was a managing director of Zurich Scudder Investments, an investment management firm. During his employment with Scudder, Mr. Birdsong was an interested director of The Japan Fund.

Robert M. Gavin, Jr. (1940) Director since 2002 (MF) and 1986 (MF2), Chairman of the Board since 2004

Dr. Gavin is an educational consultant. Prior to September 1, 2001, he was President of Cranbrook Education Community and prior to July 1996, he was President of Macalester College, St. Paul, Minnesota.

Duane E. Hill (1945) Director since 2001 (MF) and 2002 (MF2), Chairman of the Nominating Committee

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

Sandra S. Jaffee (1941) Director since 2005

Ms. Jaffee is Chairman and Chief Executive Officer of Fortent (formerly Searchspace Group), a leading provider of compliance/regulatory technology to financial institutions. Ms. Jaffee served as an Entrepreneur in Residence with Warburg Pincus, a private equity firm, from August 2004 to August 2005. From September 1995 to July 2004, Ms. Jaffee served as Executive Vice President at Citigroup, where she was President and Chief Executive Officer of Citibank’s Global Securities Services (1995-2003).

William P. Johnston (1944) Director since 2005, Chairman of the Compliance Committee

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

20

Phillip O. Peterson (1944) Director since 2002 (MF) and 2000 (MF2), Chairman of the Audit Committee

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

Lemma W. Senbet (1946) Director since 2005

Dr. Senbet is the William E. Mayer Chair Professor of Finance at the University of Maryland, Robert H. Smith School of Business. He was chair of the Finance Department during 1998-2006. Previously he was an endowed professor of finance at the University of Wisconsin-Madison. Also, he was director of the Fortis Funds from March 2000-July 2002. Dr. Senbet served the finance profession in various capacities, including as director of the American Finance Association and President of the Western Finance Association. In 2006, Dr. Senbet was inducted Fellow of Financial Management Association International for his career-long distinguished scholarship and professional service.

Interested Directors and Officers

Thomas M. Marra* (1958) Director since 2002

Mr. Marra has served as President and Chief Operating Officer of The Hartford Financial Services Group, Inc. (“The Hartford”) since 2007. Mr. Marra currently serves as Director of Hartford Life, Inc. (“HL, Inc.”). Mr. Marra served as Chief Operating Officer of Hartford Life Insurance Company, Inc. (“Hartford Life”) (2000-2008), as President of Hartford Life (2002-2008) and as Director of Hartford Life’s Investment Products Division from 1998 to 2000.

* On February 24, 2009, The Hartford and Mr. Marra determined to enter into a mutually agreed separation whereby Mr. Marra will retire, and his role as an executive officer and employee of The Hartford will terminate, effective July 3, 2009. Mr. Marra will resign his position as a Director of the Fund effective June 25, 2009.

Lowndes A. Smith (1939) Director since 2002, Co-Chairman of the Investment Committee

Mr. Smith served as Vice Chairman of The Hartford from February 1997 to January 2002, as President and Chief Executive Officer of Hartford Life, Inc. from February 1997 to January 2002, and as President and Chief Operating Officer of The Hartford Life Insurance Companies from January 1989 to January 2002. Mr. Smith serves as a Director of White Mountains Insurance Group, Ltd., One Beacon Insurance, Symetra Financial and as a Managing Director of Whittington Gray Associates.

John C. Walters* (1962) Director since 2008

Mr. Walters currently serves as Chief Executive Officer, President and Director of HL, Inc. Mr. Walters previously served as President of the U.S. Wealth Management Division of Hartford Life, Inc., as Co-Chief Operating Officer of Hartford Life Insurance Company (2007-2008) and as Executive Vice President and Director of its Investment Products Division (2000-2008). Mr. Walters also serves as Chairman of the Board, Chief Executive Officer, President and Director of Hartford Life Insurance Company and as Executive Vice President of The Hartford. In addition, Mr. Walters is Manager of HL Investment Advisors, LLC (“HL Advisors”).

* Mr. Walters previously served as President and Chief Executive Officer of the Fund (2007 — 2009).

Other Officers

Robert M. Arena, Jr. (1968) President and Chief Executive Officer since 2009 (served as Vice President of the Fund (2006 — 2009))

Mr. Arena serves as Executive Vice President of Hartford Life Insurance Company, (“Hartford Life”). Additionally, Mr. Arena is Director and Senior Vice President of Hartford Administrative Services Company, (“HASCO”), Manager, Chief Executive Officer and President of Hartford Investment Financial Services, LLC (“HIFSCO”) and HL Advisors. Prior to joining The Hartford in 2004, he was Senior Vice President in charge of Product Management for American Skandia/Prudential in the individual annuities division. Mr. Arena joined American Skandia in 1996.

Tamara L. Fagely (1958) Vice President, Treasurer and Controller since 2002 (MF) 1993 (MF2)

Ms. Fagely has been a Vice President of HASCO since 1998 and Chief Financial Officer since 2006. Currently Ms. Fagely is a Vice President of Hartford Life. She served as Assistant Vice President of Hartford Life from December 2001 through March 2005. In addition, Ms. Fagely is Controller and Chief Financial Officer of HIFSCO.

Brian Ferrell (1962) AML Compliance Officer since 2008

Mr. Ferrell has served as Assistant Vice President and AML Compliance Officer for The Hartford since 2006 and as AML Compliance Officer for HASCO and Hartford Investor Services Company, LLC (“HISC”) since 2008. Prior to joining The Hartford in 2006, Mr. Ferrell held various positions at the U.S. Department of the Treasury, (the “Treasury”), from 2001 to 2006 where he served as Chief Counsel for the Treasury’s Financial Crimes Enforcement Network, (“FinCEN”) from 2005 — 2006.

21

The Hartford MidCap Fund

Directors and Officers (Unaudited) — (continued)

Thomas D. Jones, III (1965) Vice President and Chief Compliance Officer since 2006

Mr. Jones serves as Chief Compliance Officer for the Hartford Mutual Funds and Vice President and Director of Securities Compliance for The Hartford. He is also Vice President of HIFSCO, HL Advisors, and Hartford Life Insurance Company. Mr. Jones joined The Hartford in 2006 from SEI Investments, where he served as Chief Compliance Officer for its mutual funds and investment advisers. Prior to joining SEI, Mr. Jones was First Vice President and Compliance Director for Merrill Lynch Investment Managers (Americas) (“MLIM”), where he worked from 1992-2004. At MLIM, Mr. Jones was responsible for the compliance oversight of various investment products, including mutual funds, wrap accounts, institutional accounts and alternative investments.

Edward P. Macdonald (1967) Vice President, Secretary and Chief Legal Officer since 2005

Mr. Macdonald serves as Assistant General Counsel and Assistant Vice President of The Hartford and Chief Legal Officer and Vice President of HIFSCO. He also serves as Vice President and Secretary of HASCO, Assistant Vice President of Hartford Life, and Chief Legal Officer, Secretary and Vice President of HL Advisors. Prior to joining The Hartford in 2005, Mr. Macdonald was Chief Counsel, Investment Management for Prudential Financial (formerly American Skandia Investment Services, Inc.). He joined Prudential in April 1999.

Vernon J. Meyer (1964) Vice President since 2006

Mr. Meyer serves as Senior Vice President of Hartford Life and as Director of its Investment Advisory Group in the Individual Markets Group segment. He also serves as Senior Vice President of HIFSCO and HL Advisors. Prior to joining The Hartford in 2004, Mr. Meyer was with MassMutual which he joined in 1987.

D. Keith Sloane (1960) Vice President since 2009

Mr. Sloane is a Senior Vice President of Hartford Life where he serves as Director of mutual fund product management for The Hartford’s mutual funds and 529 college savings businesses. Additionally, Mr. Sloane currently serves as Senior Vice President of HIFSCO, HL Advisors, and HASCO. Prior to joining The Hartford in 2007, Mr. Sloane was Director of product marketing and led the mutual fund business for Wachovia Securities (“Wachovia”) in their investment products group. Mr. Sloane joined Wachovia in 1995.

Jane Wolak (1961) Vice President since 2009

Ms. Wolak currently serves as Vice President of Hartford Life. Ms. Wolak joined Hartford Life as Vice President, Retail Product Services in May 2007. She is also Vice President of HASCO. Previously, Ms. Wolak was with Sun Life Financial where she held the position of Vice President, Service Center Operations from 2001 — 2007.

HOW TO OBTAIN A COPY OF THE FUND’S PROXY VOTING POLICIES AND VOTING RECORDS

A description of the policies and procedures that the Fund uses to determine how to vote proxies relating to portfolio securities and a record of how the Fund voted any proxies for the twelve-month period ended June 30, 2008 is available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov.

QUARTERLY PORTFOLIO HOLDINGS INFORMATION

The Fund files a complete schedule of portfolio holdings with the Commission for the first and third quarters of each fiscal year on Form N-Q. The Fund’s Forms are available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov. The Form N-Q may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330.

22

The Hartford MidCap Fund

Expense Example (Unaudited)

Your Fund’s Expenses

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments and contingent deferred sales charges (CDSC) (2) ongoing costs including management fees; distribution fees; and other fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the period of October 31, 2008 through April 30, 2009.

Actual Expenses

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

Hypothetical Example for Comparison Purposes

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

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads) and CDSC. Therefore, the second line 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 are equal to the Fund’s annualized expense ratios multiplied by average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

	Actual return						Hypothetical (5% return before expenses)
					Expenses paid						Expenses paid					Days in
					during the period						during the period					the		Days
	Beginning		Ending Account		October 31, 2008		Beginning		Ending Account		October 31,		Annualized			current		in the
	Account Value		Value		through		Account Value		Value		2008 through		expense			1/2		full
	October 31, 2008		April 30, 2009		April 30, 2009		October 31, 2008		April 30, 2009		April 30, 2009		ratio			year		year
Class A	$	1,000.00	$	983.50	$	6.63	$	1,000.00	$	1,018.10	$	6.75		1.35	%		181		365
Class B	$	1,000.00	$	979.70	$	10.50	$	1,000.00	$	1,014.18	$	10.68		2.14			181		365
Class C	$	1,000.00	$	979.89	$	10.06	$	1,000.00	$	1,014.62	$	10.24		2.05			181		365
Class I	$	1,000.00	$	984.87	$	1.83	$	1,000.00	$	1,006.64	$	1.85		1.09			62		365
Class Y	$	1,000.00	$	986.03	$	4.13	$	1,000.00	$	1,020.62	$	4.20		0.84			181		365

23

The Hartford MidCap Fund

Approval of Amended Investment Sub-Advisory Agreement (Unaudited)

At a meeting held on February 4, 2009, the Board of Directors, including each of the Independent Directors, unanimously voted to approve an amendment to the investment sub-advisory agreement between Hartford Investment Financial Services Company (“HIFSCO”) and Wellington Management Company LLP (“Wellington”) (“Amended Agreement”). The amendment related to the sub-advisory fees HIFSCO pays Wellington with respect to The Hartford MidCap Fund (the “Fund”). In considering the approval of the Amended Agreement, the Board took into account the fact that it had approved the renewal of the investment sub-advisory agreement between HIFSCO and Wellington at the August 5-6, 2008 Board meeting with respect to the Fund and other funds sub-advised by Wellington. A discussion of the basis for the Board’s approval of the investment sub-advisory agreement is available in the Hartford Mutual Funds Annual Report to shareholders for the fiscal year ended October 31, 2008. Apart from the sub-advisory fees, the material terms of the investment sub-advisory agreement did not change. The amendment took effect on February 4, 2009.

In approving the Amended Agreement, the Board reviewed materials provided by HIFSCO relating to the Amended Agreement. In addition, the Board received an in-person presentation by personnel of HIFSCO and Wellington concerning the Amended Agreement. The Board also took into account written responses and supporting materials provided by HIFSCO and Wellington. The Board further considered information it received at the Board’s meeting on December 2, 2008. The Board also took into account information provided to the Board at its meetings throughout the year, including reports on Fund performance, compliance, shareholder services and the other services provided to the Fund by HIFSCO and Wellington.

In connection with their consideration of the annual renewal of the investment sub-advisory agreement, the Independent Directors, advised by independent legal counsel, engaged two service providers to assist them with evaluating the investment sub-advisory agreement with respect to the Fund. Lipper, Inc. (“Lipper”), an independent provider of investment company data, was retained to provide the Board with reports on how the Fund’s management and sub-advisory fees, overall expense ratios and investment performance compared to those of funds with similar investment objectives in various peer groups. The Independent Directors also engaged an independent financial services consulting firm (“Consultant”) to assist them in evaluating the Fund’s management and sub-advisory fees, overall expense ratios and investment performance. The Board considered the information provided to them from Lipper and the Consultant in determining to approve the Amended Agreement.

In determining to approve the Amended Agreement, the Board determined that the proposed sub-advisory fee structure for the Fund was fair and reasonable and that the amendment was in the best interests of the Fund and its shareholders. The Board considered the representations from HIFSCO that shareholders will not pay increased management fees or other fees as a result of the Amended Agreement. In determining to approve the Amended Agreement, the Board considered the following categories of material factors, among others, relating to the Amended Agreement.

Nature, Extent And Quality Of Services

The Board considered information concerning the nature, extent and quality of the services provided to the Fund by Wellington. The Board considered, among other things, the range of services provided by Wellington and Wellington’s organizational structure and regulatory/compliance history. The Board considered the quality of Wellington’s investment personnel, its ability to attract and retain qualified investment professionals, its investment philosophy and process, investment research capabilities and resources, performance record, trade execution capabilities and experience. In addition, the Board considered the quality of Wellington’s communications with the Board and responsiveness to Board inquiries. The Board concluded that it was satisfied with the nature, extent and quality of the services provided to the Fund by Wellington.

Investment Performance

The Board considered the investment performance of the Fund. In this regard, the Board considered the information and materials provided to the Board from HIFSCO and Lipper comparing the Fund’s short-term and long-term and recent investment performance over various periods of time with appropriate benchmark indices and with a performance universe of funds selected by Lipper. The Board also considered the analysis provided by the Consultant relating to the Fund’s performance track record. The Board concluded that the Fund’s performance over time has been satisfactory and that it had continued confidence in Wellington’s overall capabilities to provide day-to-day portfolio management to the Fund.

24

Costs of the Services and Profitability

The Board reviewed information regarding HIFSCO’s and Wellington’s cost to provide investment management and related services to the Fund and the profitability to them from managing the Fund. In this regard, the Board noted that the Amended Agreement increases the sub-advisory fee rate to be paid to Wellington by HIFSCO and decreases the profitability of HIFSCO. The Board also considered the representation of HIFSCO that the proposed sub-advisory fees would not impact the level and quality of services HIFSCO provides to the Fund and its shareholders. The Board concluded that the profitability realized on the proposed sub-advisory fees on a per Fund basis was reasonable given that the management fee and related expenses continue to be in line with comparable peers.

Comparison of Fees and Services Provided

The Board reviewed the investment sub-advisory fees to be paid by HIFSCO to Wellington under the Amended Agreement. The Board considered HIFSCO and Wellington’s representations that they had negotiated the proposed sub-advisory fees at arm’s length and Wellington’s representations that the fees charged to HIFSCO were comparable to fees charged by Wellington to similar clients. The Board concluded that the sub-advisory fees, in conjunction with the information about quality of services, profitability and other matters discussed, support the conclusion that the proposed sub-advisory fees are reasonable.

Economies of Scale

The Board considered the extent to which economies of scale would be realized by the Fund and whether fee levels reflect these economies of scale for the benefit of the Fund’s shareholders. The Board reviewed the breakpoints in the proposed sub-advisory fee schedule for the Fund, which reduces fees as Fund assets grow over time. The Board recognized that funds with assets beyond the last breakpoint level continue to benefit from economies of scale, because additional assets are charged the lowest breakpoint fee, resulting in lower overall effective management fee rates. The Board concluded that it was satisfied with the extent to which economies of scale would be shared for the benefit of the Fund’s investors.

* * * *

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

25

The Hartford MidCap Growth Fund

Table of Contents

Manager Discussions (Unaudited)	2
Financial Statements
Schedule of Investments at April 30, 2009 (Unaudited)	4
Statement of Assets and Liabilities at April 30, 2009 (Unaudited)	7
Statement of Operations for the Six Month Period Ended April 30, 2009 (Unaudited)	8
Statement of Changes in Net Assets for the Six Month Period Ended April 30, 2009 (Unaudited) and the Year Ended October 31, 2008	9
Notes to Financial Statements (Unaudited)	10
Financial Highlights (Unaudited)	20
Directors and Officers (Unaudited)	21
How to Obtain a Copy of the Fund’s Proxy Voting Policies and Proxy Voting Records (Unaudited)	23
Quarterly Portfolio Holdings Information (Unaudited)	23
Expense Example (Unaudited)	24

The Hartford MidCap Growth Fund

(subadvised by Hartford Investment Management Company)

Performance Overview(1) 1/01/05 — 4/30/09
Growth of a $10,000 investment in Class A which includes Sales Charge

Russell MidCap Growth Index is an unmanaged index measuring the performance of the mid-cap growth segment of the U.S. equity universe.

You cannot invest directly in an index.

The value of shares will fluctuate so that, when redeemed, shares may be worth more or less than their original cost. The chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.

Investment objective — Seeks long-term capital appreciation.

Average Annual Total Returns(2,3) (as of 4/30/09)

	Inception	1	Since
	Date	Year	Inception
MidCap Gro A#	1/01/05	-35.49%	-6.26%
MidCap Gro A##	1/01/05	-39.04%	-7.48%
MidCap Gro B#	1/01/05	-35.72%	-6.78%
MidCap Gro B##	1/01/05	-38.94%	-7.13%
MidCap Gro C#	1/01/05	-35.81%	-6.90%
MidCap Gro C##	1/01/05	-36.45%	-6.90%
MidCap Gro Y#	1/01/05	-35.29%	-5.93%

#	Without sales charge
##	With sales charge

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)	Growth of a $10,000 investment in Classes B, C and Y shares will vary from results seen above due to differences in the expenses charged to these share classes.
(2)	The initial investment in Class A shares reflects the maximum sales charge and Classes B and C reflect CDSC.
(3)	Total returns presented above were calculated using the Fund’s net asset value available to shareholders for sale or redemption of Fund shares on April 30, 2009, which excludes investment transactions as of this date.

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

Portfolio Managers
Hugh Whelan, CFA	Paul Bukowski, CFA
Managing Director	Vice President

How did the Fund perform?

The Class A shares of The Hartford MidCap Growth Fund returned 3.81%, before sales charge, for the six-month period ended April 30, 2009, versus 2.71% for its benchmark, the Russell MidCap Growth Index, and the -0.54% average return of the Lipper Mid-Cap Growth Funds category, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

Over the past 6 months, the Fund’s relative outperformance (i.e. performance of the fund as measured against the benchmark) for the period was primarily due to superior security selection in the Information Technology, Industrials, and Materials sectors. This was partially offset by adverse security selection in the Consumer Discretionary, Energy and Consumer Staples sectors.

Among the largest contributors to relative returns were Ashland, Inc. (Materials) and Commscope (Information Technology). Ashland, a global chemical company, easily beat analyst estimates amid an expectation of rising margins. Commscope is a technology company engaged in the wireless networking arena. It reported better-than-expected earnings for the first quarter and provided positive guidance for the second quarter.

The primary detractors from relative return were an overweight (i.e. the Funds sector position was greater than the benchmark) in aluminum producer, Century Aluminum (Materials), whose stock suffered in the face of plummeting aluminum prices, and an overweight in Massey Energy (Energy), where declining coal demand weighed on the company’s stock price.

The Fund’s current top holdings relative to the benchmark include Autodesk (Information Technology), and Ashland, Inc. Autodesk is a top holding due to management’s commitment to R&D as well as strong analyst estimated future earnings. Ashland is a top holding because of attractive valuations and strong investor sentiment. Overall, the Fund tends to invest in financially efficient companies with attractive valuations and higher margins.

2

Our team invests in companies that we believe have compelling stock characteristics versus the Russell MidCap Growth Index. The Team’s systematic approach weighs 30 fundamental characteristics across four broad categories, including business behavior, management behavior, valuation and investor behavior. This analysis is used to build a broadly diversified portfolio of companies, with sector weightings determined largely by the attractiveness of specific stocks within the Fund’s investment universe.

We believe this approach will yield attractive risk-adjusted returns relative to the Russell MidCap Growth Index over the long term.

What is the outlook?

The impressive rally that began in March raises the question: has the market bottomed? It is our belief that the long term, sustainable growth of the market comes from fundamentally sound and growing earnings. Looking first at the characteristics of the companies that led this rally and then the aggregate earnings growth of the market leads us to believe that the current market rally cannot be sustained and that our Fund’s relative performance will improve as the market returns to working its way through its traditional, fundamentally-based, long-term investment cycle.

In March, stocks with the lowest quality ratings, the lowest profitability, and the highest debt-to-equity ratios led the rally; and we do not believe that type of leadership is sustainable. We look for companies with stronger fundamentals to lead us out of this recession, the same type of companies in which we invest: profitable, growing, and attractively priced with sound management discipline.

Furthermore, the earnings picture is cloudy. First, earnings are falling at near record-breaking rates and all indications are that they will continue to fall. Second, the quality and reliability of the earnings reported is lower than historical standards as the gap between pro forma (“Street”) earnings and GAAP (Generally Accepted Accounting Principles) earnings rose in the past several months. Third, there is little clarity in future earnings prospects as the disparity among analyst estimates for future earnings remains at elevated levels. Historically, such consensus building was a precondition to the final, sustained recovery from bear markets associated with recessions.

The overall market environment looks very challenging. In the short term, investors should expect continued market volatility on both an absolute (i.e. total return) and relative basis. However, we believe patient investors willing to endure this short-term volatility will be rewarded in the long run from the high quality, fundamentally sound stocks that we favor.

Diversification by Industry

as of April 30, 2009

	Percentage of
Industry	Net Assets
Capital Goods		12.7	%
Commercial & Professional Services		2.0
Consumer Durables & Apparel		2.6
Consumer Services		7.1
Diversified Financials		4.7
Energy		9.7
Food, Beverage & Tobacco		3.3
Health Care Equipment & Services		8.2
Household & Personal Products		1.1
Insurance		1.1
Materials		5.3
Media		2.4
Other Investment Pools and Funds		0.3
Pharmaceuticals, Biotechnology & Life Sciences		2.5
Real Estate		0.6
Retailing		6.6
Semiconductors & Semiconductor Equipment		8.3
Software & Services		8.5
Technology Hardware & Equipment		6.7
Telecommunication Services		2.3
Transportation		1.4
Utilities		1.7
Short-Term Investments		0.7
Other Assets and Liabilities		0.2
Total		100.0	%

3

The Hartford MidCap Growth Fund

Schedule of Investments

April 30, 2009 (Unaudited)
(000’s Omitted)

Shares or Principal Amount			Market Value ╪
COMMON STOCKS - 98.8%
		Capital Goods - 12.7%
	1	Alliant Techsystems, Inc. •	$	100
	2	AMETEK, Inc.		71
	5	Carlisle Cos., Inc.		106
	3	Cooper Industries Ltd.		87
	3	Donaldson Co., Inc.		112
	2	Flowserve Corp.		132
	5	Fluor Corp.		203
	6	General Cable Corp. •		161
	2	Goodrich Corp.		79
	3	Graco, Inc.		76
	2	Hubbell, Inc. Class B		71
	4	IDEX Corp.		105
	5	Jacobs Engineering Group, Inc. •		184
	6	Joy Global, Inc.		160
	4	KBR, Inc.		61
	4	Kennametal, Inc.		80
	1	L-3 Communications Holdings, Inc.		68
	2	Lincoln Electric Holdings, Inc.		98
	12	McDermott International, Inc. •		194
	3	Precision Castparts Corp.		192
	4	Quanta Services, Inc. •		80
	6	Shaw Group, Inc. •		184
	3	Sunpower Corp. •		81
	3	Toro Co.		91
	3	URS Corp. •		123
	1	W. W. Grainger, Inc.		70
				2,969
		Commercial & Professional Services - 2.0%
	2	Dun & Bradstreet Corp.		151
	1	FTI Consulting, Inc. •		54
	4	Iron Mountain, Inc. •		111
	3	Pitney Bowes, Inc.		81
	1	Stericycle, Inc. •		56
				453
		Consumer Durables & Apparel - 2.6%
	9	Coach, Inc. •		223
	3	Hasbro, Inc.		71
	2	Polo Ralph Lauren Corp.		101
	18	Pulte Homes, Inc.		211
				606
		Consumer Services - 7.1%
	3	Apollo Group, Inc. Class A •		217
	2	Burger King Holdings, Inc.		37
	2	Choice Hotels International, Inc.		63
	3	Darden Restaurants, Inc.		94
	2	DeVry, Inc.		90
	8	H & R Block, Inc.		118
	1	ITT Educational Services, Inc. •		145
	4	Marriott International, Inc. Class A		104
	1	Panera Bread Co. Class A •		82
	12	Starbucks Corp. •		178
	1	Strayer Education, Inc.		129
	4	Tim Hortons, Inc.		104
	9	Yum! Brands, Inc.		305
				1,666
		Diversified Financials - 4.7%
	5	Eaton Vance Corp.		130
	1	IntercontinentalExchange, Inc. •		127
	2	Lazard Ltd.		57
	3	MSCI, Inc. •		61
	4	Nasdaq OMX Group, Inc. •		74
	4	Northern Trust Corp.		232
	10	SEI Investments Co.		146
	4	T. Rowe Price Group, Inc.		154
	6	Waddell and Reed Financial, Inc. Class A		125
				1,106
		Energy - 9.7%
	7	Arch Coal, Inc.		95
	6	Cameron International Corp. •		151
	8	Denbury Resources, Inc. •		135
	1	Diamond Offshore Drilling, Inc.		84
	7	El Paso Corp.		46
	3	ENSCO International, Inc.		77
	4	Frontier Oil Corp.		52
	16	Helix Energy Solutions Group, Inc. •		144
	3	Murphy Oil Corp.		132
	5	Noble Corp.		146
	2	Noble Energy, Inc.		102
	2	Oceaneering International, Inc. •		108
	7	Patterson-UTI Energy, Inc.		86
	5	Pride International, Inc. •		108
	14	Quicksilver Resources, Inc.		113
	2	Range Resources Corp.		92
	4	Smith International, Inc.		104
	5	Southwestern Energy Co. •		172
	3	Sunoco, Inc.		71
	12	Tesoro Corp.		178
	9	W&T Offshore, Inc.		86
				2,282
		Food, Beverage & Tobacco - 3.3%
	1	Brown-Forman Corp.		62
	3	Campbell Soup Co.		79
	5	Dean Foods Co. •		98
	6	H. J. Heinz Co.		223
	2	Hansen National Corp. •		81
	3	Hershey Co.		98
	2	Lorillard, Inc.		148
				789
		Health Care Equipment & Services - 8.2%
	2	Bard (C. R.), Inc.		123
	1	Cerner Corp. •		56
	5	Cigna Corp.		93
	8	Coventry Health Care, Inc. •		132
	4	Dentsply International, Inc.		106
	6	Express Scripts, Inc. •		361
	2	Gen-Probe, Inc. •		82
	3	Henry Schein, Inc. •		111
	6	Hlth Corp. •		65
	5	IMS Health, Inc.		59
	3	Laboratory Corp. of America Holdings •		214
	3	Lincare Holdings, Inc. •		68
	2	Omnicare, Inc.		50
	2	Quest Diagnostics, Inc.		127
	5	St. Jude Medical, Inc. •		173
	3	Varian Medical Systems, Inc. •		92
				1,912

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

4

Shares or Principal Amount			Market Value ╪
COMMON STOCKS - 98.8% - (continued)
Household & Personal Products - 1.1%
	2	Alberto-Culver Co.	$	50
	7	Avon Products, Inc.		160
	1	Church & Dwight Co., Inc.		56
				266
		Insurance - 1.1%
	3	Axis Capital Holdings Ltd.		74
	5	Brown & Brown, Inc.		92
	4	W. R. Berkley Corp.		100
				266
		Materials - 5.3%
	15	AK Steel Holding Corp.		200
	10	Ashland, Inc.		228
	2	CF Industries Holdings, Inc.		144
	8	Cliff’s Natural Resources, Inc.		180
	2	Crown Holdings, Inc. •		51
	4	Owens-Illinois, Inc. •		102
	2	Schnitzer Steel Industries, Inc.		93
	9	Steel Dynamics, Inc.		114
	4	Terra Industries, Inc.		117
				1,229
		Media - 2.4%
	3	DreamWorks Animation SKG, Inc. •		66
	19	Interpublic Group of Cos., Inc. •		116
	5	Liberty Media Corp. — Entertainment •		133
	4	McGraw-Hill Cos., Inc.		132
	3	Morningstar, Inc. •		110
				557
		Pharmaceuticals, Biotechnology & Life Sciences - 2.5%
	4	Allergan, Inc.		185
	4	Forest Laboratories, Inc. •		77
	2	Life Technologies Corp. •		58
	1	Millipore Corp. •		63
	2	Vertex Pharmaceuticals, Inc. •		70
	3	Waters Corp. •		141
				594
		Real Estate - 0.6%
	4	Plum Creek Timber Co., Inc.		134
		Retailing - 6.6%
	2	Abercrombie & Fitch Co. Class A		62
	1	Advance Automotive Parts, Inc.		47
	1	AutoZone, Inc. •		173
	2	Bed Bath & Beyond, Inc. •		70
	2	Dollar Tree, Inc. •		87
	7	Gap, Inc.		115
	4	Kohl’s Corp. •		197
	18	Limited Brands, Inc.		208
	2	Priceline.com, Inc. •		155
	4	Ross Stores, Inc.		160
	1	Sherwin-Williams Co.		83
	4	TJX Cos., Inc.		122
	4	Urban Outfitters, Inc. •		72
				1,551
		Semiconductors & Semiconductor Equipment - 8.3%
	10	Altera Corp.		157
	10	Analog Devices, Inc.		203
	15	Broadcom Corp. Class A •		347
	5	Intersil Corp.		58
	7	Linear Technology Corp.		151
	26	Marvell Technology Group Ltd. •		282
	3	Microchip Technology, Inc.		71
	17	National Semiconductor Corp.		215
	9	NVIDIA Corp. •		102
	3	Silicon Laboratories, Inc. •		103
	3	Varian Semiconductor Equipment Associates, Inc. •		74
	9	Xilinx, Inc.		181
				1,944
		Software & Services - 8.5%
	8	Activision Blizzard, Inc. •		90
	3	Alliance Data Systems Corp. •		144
	18	Autodesk, Inc. •		351
	3	BMC Software, Inc. •		90
	6	Broadridge Financial Solutions, Inc.		116
	4	Citrix Systems, Inc. •		111
	9	Electronic Arts, Inc. •		179
	2	Factset Research Systems, Inc.		117
	2	Fiserv, Inc. •		69
	10	Paychex, Inc.		259
	10	Red Hat, Inc. •		168
	3	Salesforce.com, Inc. •		127
	2	Sohu.com, Inc. •		82
	4	VeriSign, Inc. •		81
				1,984
		Technology Hardware & Equipment - 6.7%
	7	AVX Corp.		66
	9	CommScope, Inc. •		216
	2	Dolby Laboratories, Inc. Class A •		86
	2	F5 Networks, Inc. •		62
	13	Juniper Networks, Inc. •		273
	3	National Instruments Corp.		64
	6	NCR Corp. •		63
	9	NetApp, Inc. •		169
	13	Seagate Technology		106
	5	Teradata Corp. •		78
	8	Trimble Navigation Ltd. •		161
	10	Western Digital Corp. •		246
				1,590
		Telecommunication Services - 2.3%
	4	American Tower Corp. Class A •		134
	2	Leap Wireless International, Inc. •		67
	10	SBA Communications Corp. •		257
	2	Telephone and Data Systems, Inc.		71
				529
		Transportation - 1.4%
	3	C. H. Robinson Worldwide, Inc.		175
	4	Expeditors International of Washington, Inc.		155
				330
		Utilities - 1.7%
	11	AES Corp. •		76
	9	CenterPoint Energy, Inc.		92
	7	NRG Energy, Inc. •		120
	4	Questar Corp.		120
				408
		Total common stocks (cost $23,071)	$	23,165

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

5

The Hartford MidCap Growth Fund

Schedule of Investments — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

Shares or Principal Amount					Market Value ╪
EXCHANGE TRADED FUNDS - 0.3%
		Other Investment Pools and Funds - 0.3%
	2	iShares Russell Midcap Growth			$	55
		Total Exchange Traded Funds (cost $48)			$	55
		Total long-term investments (cost $23,119)			$	23,220
SHORT-TERM INVESTMENTS - 0.7%
		Repurchase Agreements - 0.2%
		BNP Paribas Securities Corp. Repurchase
		Agreement (maturing on 05/01/2009 in the amount of $44, collateralized by U.S. Treasury Bond 5.38%, 2031, value of $45)
$	44	0.15%, 04/30/2009			$	44
		UBS Securities, Inc. Repurchase Agreement (maturing on 05/01/2009 in the amount of $12, collateralized by U.S. Treasury Bond 7.50%, 2024, value of $13)
	12	0.13%, 04/30/2009				12
						56
		U.S. Treasury Bills - 0.5%
	85	0.06%, 05/21/2009 o				85
	25	0.09%, 07/16/2009 □ o				25
						110
		Total short-term investments (cost $166)			$	166
		Total investments (cost $23,285)▲	99 .8	%	$	23,386
		Other assets and liabilities	0 .2	%		56
		Total net assets	100.0	%	$	23,442

Note: Percentage of investments as shown is the ratio of the total market value to total net assets. Market value of investments in foreign securities represents 0.79% of total net assets at April 30, 2009.

▲ At April 30, 2009, the cost of securities for federal income tax purposes was $25,165 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	2,417
Unrealized Depreciation		(4,196	)
Net Unrealized Depreciation	$	(1,779	)

•	Currently non-income producing.
o	The interest rate disclosed for these securities represents the effective yield on the date of the acquisition.
□	Security pledged as initial margin deposit for open futures contracts at April 30, 2009.
	Futures Contracts Outstanding at April 30, 2009

					Unrealized
	Number of			Expiration	Appreciation/
Description	Contracts*		Position	Month	(Depreciation)
S&P Mid 400 Mini		3	Long	Jun 2009	$	4

* The number of contracts does not omit 000’s.

╪ See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of securities.

FAS 157 Disclosure of Investment Valuation Hierarchy Levels

Assets:
Investment in securities — Level 1	$	23,220
Investment in securities — Level 2		166
Total	$	23,386
Other financial instruments — Level 1 *	$	4
Total	$	4

* Other financial instruments are derivative instruments not reflected in the Schedule of Investments, such as futures, forwards and swap contracts, which are valued at the unrealized appreciation/depreciation on the investment.

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

6

The Hartford MidCap Growth Fund

Statement of Assets and Liabilities

April 30, 2009 (Unaudited)
(000’s Omitted)

Assets:
Investments in securities, at fair value (cost $23,285)	$	23,386
Cash		4
Receivables:
Fund shares sold		174
Dividends and interest		12
Variation margin		—
Other assets		47
Total assets		23,623
Liabilities:
Payables:
Investment securities purchased		3
Fund shares redeemed		154
Investment management fees		3
Distribution fees		2
Variation margin		1
Accrued expenses		18
Total liabilities		181
Net assets	$	23,442
Summary of Net Assets:
Capital stock and paid-in-capital		42,013
Accumulated undistributed net investment income		14
Accumulated net realized loss on investments		(18,690	)
Unrealized appreciation of investments		105
Net assets	$	23,442
Shares authorized		800,000
Par value	$	0.001
Class A: Net asset value per share/Maximum offering price per share	$	6.27/$6.63
Shares outstanding		2,636
Net assets	$	16,520
Class B: Net asset value per share	$	6.10
Shares outstanding		440
Net assets	$	2,685
Class C: Net asset value per share	$	6.06
Shares outstanding		671
Net assets	$	4,067
Class Y: Net asset value per share	$	6.38
Shares outstanding		27
Net assets	$	170

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

7

The Hartford MidCap Growth Fund

Statement of Operations

For the Six Month Period Ended April 30, 2009 (Unaudited)
(000’s Omitted)

Investment Income:
Dividends	$	135
Interest		—
Securities lending		9
Total investment income		144
Expenses:
Investment management fees		76
Transfer agent fees		58
Distribution fees
Class A		19
Class B		12
Class C		15
Custodian fees		6
Accounting services		1
Registration and filing fees		25
Board of Directors’ fees		1
Audit fees		3
Other expenses		6
Total expenses (before waivers and fees paid indirectly)		222
Expense waivers		(64	)
Transfer agent fee waivers		(28	)
Custodian fee offset		—
Total waivers and fees paid indirectly		(92	)
Total expenses, net		130
Net investment income		14
Net Realized Loss on Investments and Other Financial Instruments:
Net realized loss on investments in securities		(12,950	)
Net realized gain on futures		669
Net Realized Loss on Investments and Other Financial Instruments		(12,281	)
Net Changes in Unrealized Appreciation of Investments and Other Financial Instruments:
Net unrealized appreciation of investments		12,609
Net unrealized depreciation of futures		(14	)
Net Changes in Unrealized Appreciation of Investments and Other Financial Instruments		12,595
Net Gain on Investments and Other Finanical Instruments		314
Net Increase in Net Assets Resulting from Operations	$	328

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

8

The Hartford MidCap Growth Fund

Statement of Changes in Net Assets

(000’s Omitted)

	For the Six-Month
	Period Ended			For the
	April 30, 2009			Year Ended
	(Unaudited)			October 31, 2008
Operations:
Net investment income (loss)	$	14		$	(50	)
Net realized loss on investments and other financial instruments		(12,281	)		(6,355	)
Net unrealized appreciation (depreciation) of investments and other financial instruments		12,595			(14,001	)
Net increase (decrease) in net assets resulting from operations		328			(20,406	)
Distributions to Shareholders:
From net realized gain on investments
Class A		—			(2,740	)
Class B		—			(571	)
Class C		—			(598	)
Class Y		—			(14	)
Total distributions		—			(3,923	)
Capital Share Transactions:
Class A		(4,833	)		17,642	*
Class B		20			767	†
Class C		874			1,344	‡
Class Y		27			132	§
Net increase (decrease) from capital share transactions		(3,912	)		19,885
Net decrease in net assets		(3,584	)		(4,444	)
Net Assets:
Beginning of period		27,026			31,470
End of period	$	23,442		$	27,026
Accumulated undistributed net investment income (loss)	$	14		$	—

*	Includes merger activity in the amount of $13,927.
†	Includes merger activity in the amount of $592.
‡	Includes merger activity in the amount of $1,147.
§	Includes merger activity in the amount of $118.

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

9

The Hartford MidCap Growth Fund

Notes to Financial Statements

April 30, 2009 (Unaudited)
(000’s Omitted)

1.	Organization:
	The Hartford Mutual Funds, Inc. (“Company”) is an open-end management investment company comprised of fifty-two portfolios. Financial statements for The Hartford MidCap Growth Fund (the “Fund”), a series of the Company, are included in this report.
	The Company is organized under the laws of the State of Maryland and is registered with the Securities and Exchange Commission (“SEC”) under the Investment Company Act of 1940, as amended (“1940 Act”). The Fund is a diversified open-end management investment company.
	Class A shares are sold with a front-end sales charge of up to 5.50%. Class B shares are sold with a contingent deferred sales charge which is assessed on the lesser of the per share net asset value (“NAV”) of the shares at the time of redemption or the original purchase price, and declines from up to 5.00% to zero depending on the period of time the shares are held. Class C shares are sold with a contingent deferred sales charge of up to 1.00% on shares redeemed within twelve months of purchase. Class Y shares, which are sold to certain eligible institutional investors, are sold without a sales charge. All classes of shares have identical voting, redemption, dividend, liquidation and other rights and the same terms and conditions, with the exceptions that each class may have different expenses, which may affect performance, and except that Class B shares automatically convert to Class A shares after 8 years.
	Effective at the close of business on September 30, 2009 (the “Close Date”), no new or additional investments will be allowed in Class B shares of The Hartford Mutual Funds (including investments through any systematic investment plan). After the Close Date, existing shareholders of Class B shares may continue to hold their Class B shares, exchange their Class B shares for Class B shares of another Hartford Mutual Fund (as permitted by existing exchange privileges), and redeem their Class B shares as described in the Fund’s prospectus. Reinstatement privileges with respect to Class B shares will continue under the current policy. If you have chosen to reinvest capital gains and dividends, any such capital gains or dividends on Class B shares will continue to be reinvested in Class B shares of the Fund. For Class B shares outstanding as of the Close Date, all Class B share attributes, including the 12b-1 fee, contingent deferred sales charge schedule, and conversion to Class A shares remain unchanged.
2.	Significant Accounting Policies:
	The following is a summary of significant accounting policies of the Fund, which are in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”).

a)	Security Transactions and Investment Income — Security transactions are recorded on the trade date (the date the order to buy or sell is executed). Security gains and losses are determined on the basis of identified cost.
	Dividend income is accrued as of the ex-dividend date, except that certain dividends for foreign securities where the ex-dividend date may have passed are recorded as soon as the Fund is informed of the dividend in the exercise of reasonable diligence. Interest income, including amortization of premium and accretion of discounts, is accrued on a daily basis.
b)	Security Valuation — The Fund generally uses market prices in valuing portfolio securities. If market prices are not readily available or are deemed unreliable, the Fund will use the fair value of the security as determined in good faith under policies and procedures established by and under the supervision of the Fund’s Board of Directors. Market prices may be deemed unreliable, for example, if a security is thinly traded or if an event has occurred after the close of the security’s primary markets, but before the close of the New York Stock Exchange (the “Exchange”) (normally 4:00 p.m. Eastern Time, referred to as the “Valuation Time”) that is expected to affect the value of the portfolio security. The circumstances in which the Fund may use fair value pricing include, among others: (i) the occurrence of events that are significant to a particular issuer, such as mergers, restructuring or defaults; (ii) the occurrence of events that are significant to an entire market, such as natural disasters in a particular region or governmental actions; (iii) trading restrictions on securities; (iv) thinly traded securities and (v) market events such as trading halts and early market

10

	closings. In addition, with respect to the valuation of stocks primarily traded on foreign markets, the Fund uses a fair value pricing service approved by the Fund’s Board of Directors, which employs quantitative models that evaluate changes in the value of foreign market proxies (e.g., futures contracts, ADR’s, exchange traded funds (“ETF’s”)) after the close of the foreign markets but before the close of the Exchange. Securities that are primarily traded on foreign markets may trade on days that are not business days of the Fund. The value of the foreign securities in which the Fund invests may change on days when a shareholder will not be able to purchase or redeem shares of the Fund. Fair value pricing is subjective in nature and the use of fair value pricing by the Fund may cause the NAV of its shares to differ significantly from the NAV that would have been calculated using market prices at the close of the exchange on which a portfolio security is primarily traded but before the close of the Exchange. There can be no assurance that the Fund could obtain the fair value assigned to a security if the Fund were to sell the security at approximately the time at which the Fund determines its NAV.
	Exchange traded equity securities shall be valued at the last reported sale price on the exchange or market on which the security is primarily traded (the “Primary Market”) at the Valuation Time. If the security did not trade on the Primary Market, it may be valued at the Valuation Time at the last reported sale price on another exchange where it trades. The value of an equity security not traded on any exchange but traded on the Nasdaq Stock Market, Inc. (“Nasdaq”) or another over-the-counter market shall be valued at the last reported sale price or official closing price on the exchange or market on which the security is traded as of the Valuation Time. If it is not possible to determine the last reported sale price or official closing price on the relevant exchange or market at the Valuation Time, the value of the security shall be taken to be the most recent mean between bid and asked prices on such exchange or market at the Valuation Time.
	Securities of foreign issuers and non-dollar securities are translated from the local currency into U.S. dollars using prevailing exchange rates.
	Options contracts on securities, currencies, indexes, futures contracts, commodities and other instruments shall be valued at their most recent sales price at the Valuation Time on the Primary Market on which the instrument is primarily traded. If the instrument did not trade on the Primary Market, it may be valued at the most recent sales price at the Valuation Time on another exchange or market where it did trade.
	Futures contracts are valued at the most recent settlement price reported by an exchange on which, over time, they are traded most extensively. If a settlement price is not available, futures contracts will be valued at the most recent trade price as of the Valuation Time. If there were no trades, the contract shall be valued at the mean of the closing bid/ask prices as of the Valuation Time.
	Financial instruments for which prices are not available from an independent pricing service are valued using market quotations obtained from one or more dealers that make markets in securities in accordance with procedures established by the Fund’s Board of Directors.
	Other derivative or contractual type instruments shall be valued using market prices if such instruments trade on an exchange or market. If such instruments do not trade on an exchange or market, such instruments shall be valued at a price at which the counterparty to such contract would repurchase the instrument. In the event that the counterparty cannot provide a price, such valuation may be determined in accordance with procedures established by the Fund’s Board of Directors.
c)	Securities Lending - The Fund may lend its securities to certain qualified brokers who pay the Fund negotiated lender fees. The loans are fully collateralized at all times with cash and/or U.S. Government Securities and/or repurchase agreements. The cash collateral is then invested in short-term money market instruments. The repurchase agreements are fully collateralized by U.S. Government Securities. The adequacy of the collateral for securities on loan is monitored on a daily basis. For instances where the market value of collateral falls below the market value of the securities out on loan, such collateral is supplemented on the following business day.

11

The Hartford MidCap Growth Fund

Notes to Financial Statements
April 30, 2009 (Unaudited)
(000’s Omitted)

	While securities are on loan, the Fund is subject to the following risks: 1) that the borrower may default on the loan and that the collateral could be inadequate in the event the borrower defaults, 2) that the earnings on the collateral invested may not be sufficient to pay fees incurred in connection with the loan, 3) that the principal value of the collateral invested may decline and may not be sufficient to pay back the borrower for the amount of the collateral posted, 4) that the borrower may use the loaned securities to cover a short sale which may place downward pressure on the market prices of the loaned securities, 5) that return of loaned securities could be delayed and could interfere with portfolio management decisions and 6) that any efforts to recall the securities for purposes of voting a proxy may not be effective. The Fund had no securities out on loan as of April 30, 2009.
d)	Joint Trading Account — Pursuant to an exemptive order issued by the SEC, the Fund may transfer uninvested cash balances into a joint trading account managed by Hartford Investment Management Company (“Hartford Investment Management”). These balances may be invested in one or more repurchase agreements and/or short-term money market instruments.
e)	Repurchase Agreements — A repurchase agreement is an agreement by which the seller of a security agrees to repurchase the security sold at a mutually agreed upon time and price. At the time the Fund enters into a repurchase agreement, the value of the underlying collateral security(ies), including accrued interest, will be equal to or exceed the value of the repurchase agreement. Securities that serve to collateralize the repurchase agreement are held by the Fund’s custodian in book entry or physical form in the custodial account of the Fund or in a third party custodial account. Repurchase agreements are valued at cost plus accrued interest. The Fund, as shown on the Schedule of Investments, had outstanding repurchase agreements as of April 30, 2009.
f)	Indexed Securities — The Fund may invest in indexed securities whose values are linked to changes in interest rates, indices, or other underlying instruments. The Fund uses these securities to increase or decrease its exposure to different underlying instruments and to gain exposure to markets that might be difficult to invest in using conventional securities. Indexed securities may be more volatile than their underlying instruments, but any loss is limited to the amount of the original investment and there may be a limit to the potential appreciation of the investment. The Fund had investments in indexed securities as of April 30, 2009, as shown on the Schedule of Investments under Exchange Traded Funds.
g)	Fund Share Valuation and Dividend Distributions to Shareholders — Orders for the Fund’s shares are executed in accordance with the investment instructions of the shareholders. The NAV of the Fund’s shares is determined as of the close of each business day of the Exchange. The NAV is determined separately for each class of the Fund by dividing the Fund’s net assets attributable to that class by the number of shares of the class outstanding. Orders for the purchase of the Fund’s shares prior to the close of the Exchange on any day on which the Exchange is open for business are priced at the NAV determined as of the close of the Exchange. Orders after the close of the Exchange, or on a day on which the Exchange and/or the Fund is not open for business, are priced at the next determined NAV.
	The Fund intends to distribute substantially all of its net investment income and net realized capital gains to shareholders no less frequently than once a year. Normally, dividends from net investment income are declared and paid annually. Dividends are paid on shares beginning on the business day after the day when the funds used to purchase the shares are collected by the transfer agent for the Fund. Unless shareholders specify otherwise, all dividends will be automatically reinvested in additional full or fractional shares of the Fund.
	Distributions from net investment income, realized capital gains and capital are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP with respect to character and timing. These differences include but are not limited to foreign currency gains and losses, losses deferred due to wash sales adjustments, adjustments related to Passive Foreign Investment Companies and certain derivatives, and excise tax regulations. Permanent book and federal income tax basis differences relating to shareholder distributions will result in reclassifications to certain of the Fund’s capital accounts (see Federal Income Taxes: Reclassification of Capital Accounts footnote).

12

h)	Use of Estimates — The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and the reported amounts of income and expenses during the period. Operating results in the future could vary from the amounts derived from management’s estimates.
i)	Financial Accounting Standards Board Financial Accounting Standards No. 157 — Effective November 1, 2008, the Fund adopted Financial Accounting Standards Board (“FASB”) Statement of Financial Accounting Standards No. 157, “Fair Value Measurements” (“FAS 157”). This standard clarifies the definition of fair value for financial reporting, establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements. Fair value is defined under FAS 157 as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Under FAS 157, a fair value measurement should reflect all of the assumptions that market participants would use in pricing the asset or liability, including assumptions about the risk inherent in a particular valuation technique, the effect of a restriction on the sale or use of an asset, and the risk of nonperformance.
	Various inputs are used in determining the value of the Fund’s investment. These inputs are summarized, per FAS 157, into three broad hierarchy levels. This hierarchy is based on whether the valuation inputs are observable or unobservable. These levels are:

• Level 1 — Quoted prices in active markets for identical securities. Level 1 includes exchange-traded instruments such as domestic equities, some foreign equities, options, futures, mutual funds, ETF’s, and rights and warrants.

• Level 2 — Observable inputs other than Level 1 prices, such as quoted prices for similar securities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the security. Level 2 includes debt securities that are traded less frequently than exchange-traded instruments and that are valued using third party pricing services and foreign equities, whose value is determined using a multi-factor regression model with inputs that are observable in the market; and money market instruments, which are carried at amortized cost.

• Level 3 — Significant unobservable inputs that are supported by little or no market activity. Level 3 includes financial instruments whose values are determined using broker quotes and require significant management judgment or estimation. This category includes broker quoted securities, long dated OTC options and securities where trading has been halted or there are certain restrictions on trading. While these securities are priced using unobservable inputs, the valuation of these securities reflects the best available data and management believes the prices are a good representation of exit price.

Individual securities within any of the above mentioned asset classes may be assigned a different hierarchical level than those presented above, as individual circumstances dictate.

FAS 157 also requires that a roll forward reconciliation be shown for all Level 3 securities from the beginning of the reporting period to the end of the reporting period. Part of this reconciliation includes transfers in and/or out of Level 3. For purposes of this reconciliation, transfers in are shown at the end of period fair value and transfers out are shown at the beginning of period fair value. During the six-month period ended April 30, 2009, the Fund held no Level 3 securities.

Refer to the valuation hierarchy levels summary found following the Schedule of Investments.

FASB Staff Position No. 157-4 — In April 2009, FASB released FASB Staff Position No. 157-4, “Determining Fair Value When the Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly” (“FSP FAS 157-4”). FSP FAS 157-4 provides additional guidance on determining whether a market for a financial asset is not active and a transaction is not distressed when measuring fair value under FAS 157. The FSP also requires additional disclosure detail on debt and equity securities by major investment categories. FSP FAS 157-4 is effective for interim and annual periods ending after June 15, 2009. At this time,

13

The Hartford MidCap Growth Fund

Notes to Financial Statements
April 30, 2009 (Unaudited)
(000’s Omitted)

	management is evaluating the implications of FSP FAS 157-4 and does not believe it will impact valuation but will require additional disclosure. This additional disclosure has not yet been implemented.
j)	Financial Accounting Standards Board Financial Accounting Standards No. 161 — In March 2008, the FASB released Statement of Financial Accounting Standards No. 161, “Disclosures about Derivative Instruments and Hedging Activities” (“FAS 161”). FAS 161 requires companies to disclose information detailing the objectives and strategies for using derivative instruments, the level of derivative activity entered into by the company and any credit risk-related contingent features of the agreements. The application of FAS 161 is required for fiscal years and interim periods beginning after November 15, 2008. At this time, management is evaluating the implications of FAS 161 and has not yet implemented the new disclosure standard.
k)	Indemnifications: Under the Company’s organizational documents, the Company shall indemnify its officers and directors to the full extent required or permitted under Maryland General Corporation Law and the federal securities law. In addition, the Company, on behalf of the Fund, may enter into contracts that contain a variety of indemnifications. The Company’s maximum exposure under these arrangements is unknown. However, the Company has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote.

3. Futures and Options:

Futures and Options Transactions — The Fund may invest in futures and options contracts in order to gain exposure to or protect against changes in the market. A futures contract is an agreement between two parties to buy and sell a security at a set price on a future date. When the Fund enters into such futures contracts, it is required to deposit with a futures commission merchant an amount of “initial margin” of cash, commercial paper or U.S. Treasury Bills. Subsequent payments, called variation margin, to and from the broker, are made on a daily basis as the price of the underlying security fluctuates, making the long and short positions in the futures contract more or less valuable (i.e., mark-to-market), which results in an unrealized gain or loss to the Fund.

At any time prior to the expiration of the futures contract, the Fund may close the position by taking an opposite position, which would effectively terminate the position in the futures contract. A final determination of variation margin is then made, additional cash is required to be paid by or released to the Fund and the Fund realizes a gain or loss.

The use of futures contracts involves elements of market risk, which may exceed the amounts recognized in the Statement of Assets and Liabilities. Changes in the value of the futures contracts may decrease the effectiveness of the Fund’s strategy and potentially result in loss. The Fund, as shown on the Schedule of Investments, had outstanding futures contracts as of April 30, 2009.

The premium paid by the Fund for the purchase of a call or put option is included in the Fund’s Statement of Assets and Liabilities as an investment and subsequently “marked-to-market” through net unrealized appreciation (depreciation) of options to reflect the current market value of the option as of the end of the reporting period.

The Fund may write (sell) covered options. “Covered” means that so long as the Fund is obligated as the writer of an option, it will own either the underlying securities or currency or an option to purchase or sell the same underlying securities or currency having an expiration date of the covered option and an exercise price equal to or less than the exercise price of the covered option, or will pledge cash or other liquid securities having a value equal to or greater than the fluctuating market value of the option securities or currencies. The Fund receives a premium for writing a call or put option, which is recorded on the Fund’s Statement of Assets and Liabilities and subsequently “marked-to-market” through net unrealized appreciation (depreciation) of options. There is a risk of loss from a change in the value of such options, which may exceed the related premiums received. As of April 30, 2009, there were no outstanding written options contracts.

14

4. Federal Income Taxes:

a)

Federal Income Taxes - For federal income tax purposes, the Fund intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code (“IRC”) by distributing substantially all of its taxable net investment income and net realized capital gains to its shareholders and otherwise complying with the requirements of regulated investment companies. The Fund has distributed substantially all of its income and capital gains in prior years and the Fund intends to distribute substantially all of its income and gains during the calendar year ending December 31, 2009. Accordingly, no provision for federal income or excise taxes has been made in the accompanying financial statements. Distributions from short-term capital gains are treated as ordinary income distributions for federal income tax purposes.

b)

The tax character of distributions paid by the Fund for the periods indicated is as follows (as adjusted for dividends payable):

	For the Year Ended		For the Year Ended
	October 31, 2008		October 31, 2007
Ordinary Income	$	3,444	$	1,264
Long-Term Capital Gains *		479		682

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

As of October 31, 2008, the Fund’s components of distributable earnings (deficit) on a tax basis were as follows:

	Amount
Accumulated Capital Losses*	$	(4,510	)
Unrealized Depreciation†	$	(14,389	)
Total Accumulated Deficit	$	(18,899	)

*	The Fund has capital loss carryforwards that are identified in the Capital Loss Carryforward note that follows.
†	The differences between book-basis and tax-basis unrealized appreciation (depreciation) are attributable to the tax deferral of wash sales losses, the mark-to-market adjustment for certain derivatives in accordance with IRC Sec. 1256, the mark to market for Passive Foreign Investment Companies and basis differences in real estate investment trusts.

c) Reclassification of Capital Accounts - In accordance with American Institute of Certified Public Accountants (AICPA) Statement of Position 93-2, Determination, Disclosure, and Financial Statement Presentation of Income, Capital Gain, and Return of Capital Distributions by Investment Companies, the Fund has recorded reclassifications in its capital accounts. These reclassifications had no impact on the NAV of the Fund. The reclassifications are a result of permanent differences between GAAP and tax accounting for such items as net operating losses that reduce distribution requirements. Adjustments are made to reflect the impact these items have on current and future distributions to shareholders. Therefore, the source of the Fund’s distributions may be shown in the accompanying Statement of Changes in Net Assets as from net investment income, from net realized gains on investments or from capital depending on the type of book and tax differences that exist. As of October 31, 2008, the Fund recorded reclassifications to increase undistributed net investment income by $50, increase accumulated net realized gain by $17, and decrease paid in capital by $67.

15

The Hartford MidCap Growth Fund

Notes to Financial Statements
April 30, 2009 (Unaudited)
(000’s Omitted)

d) Capital Loss Carryforward - At October 31, 2008 (tax-year-end), the Fund had capital loss carryforwards for U.S. federal income tax purposes of approximately:

Year	Amount
2016	$	4,510
Total	$	4,510

e) Financial Accounting Standards Board Interpretation No. 48 — On July 13, 2006, the FASB released FASB Interpretation No. 48 “Accounting for Uncertainty in Income Taxes” (“FIN 48”). FIN 48 provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. The Fund adopted FIN 48 for fiscal years beginning after December 15, 2006. Management has evaluated the implications of FIN 48 for all open tax years (tax years ended October 31, 2006 — 2008) and has determined there is no impact to the Fund’s financial statements.

5. Expenses:

a)

Investment Management Agreements — Hartford Investment Financial Services, LLC (“HIFSCO”) serves as investment manager to the Fund pursuant to an Investment Management Agreement with The Hartford Mutual Funds, Inc. As investment manager, HIFSCO has overall investment supervisory responsibility for the Fund. In addition, HIFSCO provides administrative personnel, services, equipment, facilities and office space for proper operation of the Fund. HIFSCO has contracted with Hartford Investment Management for the provision of day-to-day investment management services to the Fund in accordance with the Fund’s investment objective and policies. The Fund pays a fee to HIFSCO, a portion of which may be used to compensate Hartford Investment Management.

The schedule below reflects the rates of compensation paid to HIFSCO for investment management services rendered during the six-month period ended April 30, 2009; the rates are accrued daily and paid monthly:

Average Daily Net Assets	Annual Fee
On first $500 million		0.75	%
On next $500 million		0.70	%
On next $4 billion		0.65	%
On next $5 billion		0.63	%
Over $10 billion		0.62	%

b) Accounting Services Agreement — Pursuant to the Fund Accounting Agreement between Hartford Life Insurance Company (“HLIC”) and the Fund, HLIC provides accounting services to the Fund and receives monthly compensation on the Fund’s average net assets. The Fund’s accounting service fees are accrued daily and paid monthly.

Average Daily Net Assets	Annual Fee
On first $5 billion		0.012	%
Over $5 billion		0.010	%

c) Operating Expenses - Allocable expenses incurred by the Company are allocated to each Fund and allocated to classes within the Fund in proportion to the average daily net assets of the Fund and each class, except where allocation of certain expenses is more fairly made directly to the Fund or to specific classes within a Fund. During the six-month period ended April 30, 2009, HIFSCO has contractually limited the total operating expenses of this Fund, exclusive of taxes, interest expense, brokerage commissions, certain distribution expenses and extraordinary expenses as follows:

Class A	Class B			Class C			Class Y
1.35%		2.10	%		2.10	%		0.95	%

16

d)	Fees Paid Indirectly - The Fund’s custodian bank has agreed to reduce its fees when the Fund maintains cash on deposit in the non-interest-bearing custody account. For the six-month period ended April 30, 2009, this amount is included in the Statement of Operations.
	The ratio of expenses to average net assets in the accompanying financial highlights excludes the reduction in expenses related to fees paid indirectly. Had the fees paid indirectly been included, the annualized expense ratio for the periods listed below would have been as follows:

	Annualized
	Six-Month
	Period			Year Ended			Year Ended			Year Ended			Year Ended
	Ended April			October 31,			October 31,			October 31,			October 31,
	30, 2009			2008			2007			2006			2005
Class A Shares		1.15	%		1.35	%		1.36	%		1.48	%		1.49	%*
Class B Shares		1.44			1.82			1.95			2.09			2.24	†
Class C Shares		1.78			1.99			2.11			2.23			2.24	‡
Class Y Shares		0.95			0.95			1.01			1.08			1.09	§

*	From January 1, 2005 (commencement of operations), through October 31, 2005
†	From January 1, 2005 (commencement of operations), through October 31, 2005
‡	From January 1, 2005 (commencement of operations), through October 31, 2005
§	From January 1, 2005 (commencement of operations), through October 31, 2005

e)	Distribution and Service Plan for Class A, B and C Shares - HIFSCO is the principal underwriter and distributor of the Fund. HIFSCO is engaged in distribution activities, which include marketing and distribution of shares through broker-dealers, financing distribution costs and maintaining financial books and records. For the six-month period ended April 30, 2009, HIFSCO received front-end load sales charges of $55 and contingent deferred sales charges of $4 from the Fund.
	The Fund has adopted Distribution and Service Plans in accordance with Rule 12b-1 of the Investment Company Act of 1940, as amended, to compensate the distributor (HIFSCO) for activities intended to result in the sale and distribution of Classes A, B and C shares and for providing services for shareholders. The Rule 12b-1 plan applicable to Class A shares of the Funds provides for payment of a Rule 12b-1 fee of up to 0.35% of average daily net assets; however, the Board of Directors has currently authorized 12b-1 payments of only up to 0.25%. Some or all of the fee may be used for shareholder servicing expenses with the remainder used for distribution expenses. Some or the entire Rule 12b-1 fee for Class B shares may be remitted to broker-dealers for distribution and/or shareholder account services. Under the Class B Plan, the Fund pays the distributor 1.00% of the average daily net assets of Class B shares that are outstanding for 8 years or less, 0.25% of which is a fee for services provided to existing shareholders with the remainder used for distribution expenses. After eight years, Class B shares convert to Class A shares. Upon conversion to Class A shares, the Class A plan described above will apply to those shares. Under the Class C Plan, the Fund pays the Distributor 1.00% of the average daily net assets of Class C shares outstanding, 0.25% of which is intended as a fee for services provided to existing shareholders with the remainder used for distribution expenses. For Class C shares, some or the entire fee may be remitted to broker-dealers for distribution and/or shareholder account services. The Fund’s 12b-1 fees are accrued daily and paid monthly.
	For the six-month period ended April 30, 2009, total sales commissions paid to affiliated brokers/dealers of The Hartford for distributing the Fund’s shares were $4. These commissions are in turn paid to sales representatives of the broker/dealers.

17

The Hartford MidCap Growth Fund

Notes to Financial Statements
April 30, 2009 (Unaudited)
(000’s Omitted)

f)

Other Related Party Transactions — Certain officers of the Fund are directors and/or officers of HIFSCO and/or The Hartford or its subsidiaries. For the six-month period ended April 30, 2009, a portion of the Fund’s chief compliance officer’s salary was paid by the Fund in an amount, which rounds to zero. Hartford Administrative Services Company (“HASCO”), an indirect wholly owned subsidiary of The Hartford, provides transfer agent services to the Fund. HASCO was compensated $45 for providing such services. These fees are accrued daily and paid monthly.

g)

Payments from Affiliate: The total return in the accompanying financial highlights includes payment from affiliates. Had the payment from affiliates been excluded, the total return for the periods listed below would have been as follows:

	Impact from
	Payment from
	Affiliate for			Total Return
	Trading			Excluding
	Reimbursements			Payment from
	for the			Affiliate for the
	Year Ended			Year Ended
	October 31, 2007			October 31, 2007
Class A		0.13	%		25.00	%
Class B		0.13			23.67
Class C		0.13			23.77
Class Y		0.13			23.35

6.	Affiliate Holdings:
	As of April 30, 2009, affiliates of The Hartford had ownership of shares in the Fund as follows:

	Shares
Class Y		22

7.	Investment Transactions:
	For the six-month period ended April 30, 2009, the Fund’s aggregate purchases and sales of investment securities (excluding short-term investments) were as follows:

	Amount
Cost of Purchases Excluding U.S. Government Obligations	$	19,264
Sales Proceeds Excluding U.S. Government Obligations		22,424

18

8.	Capital Share Transactions:
	The following information is for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	For the Six-Month Period Ended April 30, 2009												For the Year Ended October 31, 2008
			Shares					Shares							Shares					Shares
			Issued for					Issued		Net Increase					Issued for					Issued		Net Increase
	Shares		Reinvested		Shares			from		(Decrease) of			Shares		Reinvested		Shares			from		(Decrease) of
	Sold		Dividends		Redeemed			Merger		Shares			Sold		Dividends		Redeemed			Merger		Shares
Class A
Shares		802		—		(1,692	)		—		(890	)		808		248		(687	)		1,423		1,792
Amount	$	4,436	$	—	$	(9,269	)	$	—	$	(4,833	)	$	7,212	$	2,583	$	(6,080	)	$	13,927	$	17,642
Class B
Shares		89		—		(88	)		—		1			112		53		(149	)		62		78
Amount	$	481	$	—	$	(461	)	$	—	$	20		$	984	$	542	$	(1,351	)	$	592	$	767
Class C
Shares		306		—		(148	)		—		158			173		52		(215	)		120		130
Amount	$	1,632	$	—	$	(758	)	$	—	$	874		$	1,566	$	522	$	(1,891	)	$	1,147	$	1,344
Class Y
Shares		5		—		—			—		5			—		1		—			12		13
Amount	$	27	$	—	$	—		$	—	$	27		$	—	$	14	$	—		$	118	$	132

The following reflects the conversion of Class B Shares into Class A Shares (reflected as Class A Shares issued and Class B shares redeemed) for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	Shares		Dollars
For the Six-Month Period Ended April 30, 2009		9	$	50
For the Year Ended October 31, 2008		11	$	100

9. Line of Credit:

The Fund is one of several Hartford Funds that participate in a $500 million committed revolving line of credit facility. The facility is to be used for temporary or emergency purposes. Under the arrangement, the Fund is required to own securities having a market value in excess of 300% of the total bank borrowings. The interest rate on borrowings varies depending on the nature of the loan. The facility also requires a fee to be paid based on the amount of the commitment. During the six-month period ended April 30, 2009, the Fund did not have any borrowings under this facility.

10. Industry Classifications:

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

19

The Hartford MidCap Growth Fund

Financial Highlights —(Unaudited)

–  Selected Per-Share Data – (a)																															– Ratios and Supplemental Data –
																																			Ratio of			Ratio of			Ratio of
																																			Expenses			Expenses			Expenses
																																			to Average			to Average			to Average
																																			Net Assets			Net Assets			Net Assets
																																			Before			After			After
								��	Net																										Waivers			Waivers			Waivers
									Realized																										and			and			and			Ratio of
									and Un-								Distrib-								Net										Reimburse-			Reimburse-			Reimburse-			Net
			Net			Pay-			realized						Dividends		utions								Increase			Net							ments and			ments and			ments and			Invest-			Port-
	Net Asset		Invest-			ments			Gain						from Net		from			Distri-					(Decrease)			Asset					Net Assets		Including			Including			Excluding			ment			folio
	Value at		ment			from			(Loss) on			Total from			Invest-		Realized			butions		Total			in Net			Value at					at End of		Expenses			Expenses			Expenses			Income to			Turn-
	Beginning		Income			(to)			Invest-			Investment			ment		Capital			from		Distri-			Asset			End of		Total			Period		not Subject			not Subject			not Subject			Average			over
Class	of Period		(Loss)			Affiliate			ments			Operations			Income		Gains			Capital		butions			Value			Period		Return(b)			(000’s)		to Cap(c)			to Cap(c)			to Cap(c)			Net Assets			Rate(d)
For the Six-Month Period Ended April 30, 2009 (Unaudited)
A	$	6.04	$	0.01		$	—		$	0.22		$	0.23		$	—	$	—		$	—	$	—		$	0.23		$	6.27		3.81	%(e)	$	16,520		1.92	%(f)		1.15	%(f)		1.15	%(f)		0.28	%(f)		90	%
B		5.89		—			—			0.21			0.21			—		—			—		—			0.21			6.10		3.57	(e)		2,685		3.12	(f)		1.44	(f)		1.44	(f)		(0.07	) (f)		—
C		5.86		(0.01	)		—			0.21			0.20			—		—			—		—			0.20			6.06		3.41	(e)		4,067		2.78	(f)		1.78	(f)		1.78	(f)		(0.42	) (f)		—
Y		6.15		0.01			—			0.22			0.23			—		—			—		—			0.23			6.38		3.74	(e)		170		1.17	(f)		0.95	(f)		0.95	(f)		0.43	(f)		—
For the Year Ended October 31, 2008
A		12.73		—			—			(5.11	)		(5.11	)		—		(1.58	)		—		(1.58	)		(6.69	)		6.04		(45.38	)		21,304		1.50			1.35			1.35			0.05			292
B		12.50		(0.06	)		—			(4.97	)		(5.03	)		—		(1.58	)		—		(1.58	)		(6.61	)		5.89		(45.59	)		2,584		2.56			1.82			1.82			(0.63	)		—
C		12.46		(0.08	)		—			(4.94	)		(5.02	)		—		(1.58	)		—		(1.58	)		(6.60	)		5.86		(45.67	)		3,002		2.39			1.99			1.99			(0.89	)		—
Y		12.88		0.05			—			(5.20	)		(5.15	)		—		(1.58	)		—		(1.58	)		(6.73	)		6.15		(45.12	)		136		0.98			0.95			0.95			0.67			—
For the Year Ended October 31, 2007
A		11.28		(0.05	)		—			1.98			1.93			—		(0.48	)		—		(0.48	)		1.45			12.73		17.76			22,074		1.60			1.37			1.37			(0.43	)		186
B		11.14		(0.11	)		—			1.95			1.84			—		(0.48	)		—		(0.48	)		1.36			12.50		17.15			4,509		2.55			1.96			1.96			(1.01	)		—
C		11.13		(0.13	)		—			1.94			1.81			—		(0.48	)		—		(0.48	)		1.33			12.46		16.89			4,772		2.40			2.12			2.12			(1.17	)		—
Y		11.36		(0.57	)		—			2.57			2.00			—		(0.48	)		—		(0.48	)		1.52			12.88		18.28			115		1.11			1.03			1.03			(0.44	)		—
For the Year Ended October 31, 2006
A		10.14		(0.08	)		—			1.32			1.24			—		(0.10	)		—		(0.10	)		1.14			11.28		12.31			23,542		1.69			1.50			1.50			(0.85	)		99
B		10.08		(0.15	)		—			1.31			1.16			—		(0.10	)		—		(0.10	)		1.06			11.14		11.58			3,725		2.67			2.11			2.11			(1.46	)		—
C		10.08		(0.15	)		—			1.30			1.15			—		(0.10	)		—		(0.10	)		1.05			11.13		11.48			3,861		2.52			2.26			2.26			(1.60	)		—
Y		10.17		(0.04	)		—			1.33			1.29			—		(0.10	)		—		(0.10	)		1.19			11.36		12.77			28,868		1.13			1.11			1.11			(0.45	)		—
From (commencement of operations) January 1, 2005, through October 31, 2005
A(g)		10.06		(0.06	)		—			0.14			0.08			—		—			—		—			0.08			10.14		0.80	(e)		14,995		2.22	(f)		1.50	(f)		1.50	(f)		(0.95	) (f)		97
B(h)		10.06		(0.09	)		—			0.11			0.02			—		—			—		—			0.02			10.08		0.20	(e)		2,354		3.35	(f)		2.25	(f)		2.25	(f)		(1.70	) (f)		—
C(i)		10.06		(0.09	)		—			0.11			0.02			—		—			—		—			0.02			10.08		0.20	(e)		1,741		3.26	(f)		2.25	(f)		2.25	(f)		(1.70	) (f)		—
Y(j)		10.06		(0.05	)		—			0.16			0.11			—		—			—		—			0.11			10.17		1.09	(e)		210		1.66	(f)		1.10	(f)		1.10	(f)		(0.55	) (f)		—

(a)	Information presented relates to a share outstanding throughout the indicated period.
(b)	Assumes initial investment at net asset value at the beginning of each period, reinvestment of all distributions, the complete redemption of the investment at net asset value at the end of each period and no sales charge. Total return would be reduced if sales charges were taken into account.
(c)	Ratios do not include fees paid indirectly (See Expenses in the accompanying Notes to Financial Statements).
(d)	Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between the classes of shares issued.
(e)	Not annualized.
(f)	Annualized.
(g)	Commenced operations on January 1, 2005.
(h)	Commenced operations on January 1, 2005.
(i)	Commenced operations on January 1, 2005.
(j)	Commenced operations on January 1, 2005.

20

The Hartford MidCap Growth Fund

Directors and Officers (Unaudited)

The Board of Directors appoints officers who are responsible for the day-to-day operations of the Fund and who execute policies formulated by the Directors. Each director serves until his or her death, resignation, or retirement or until the next annual meeting of shareholders is held or until his or her successor is elected and qualifies.

Directors and officers who are employed by or who have a financial interest in The Hartford are considered “interested” persons of the Fund pursuant to the Investment Company Act of 1940, as amended. Each officer and three of the Fund’s directors, as noted in the chart below, are “interested” persons of the Fund. Each director serves as a director for The Hartford Mutual Funds, Inc., The Hartford Mutual Funds II, Inc., The Hartford Income Shares Fund, Inc., Hartford Series Fund, Inc., and Hartford HLS Series Fund II, Inc., which collectively consist of 100 funds. Correspondence may be sent to directors and officers c/o Hartford Mutual Funds, P.O. Box 2999, Hartford, Connecticut 06104-2999, except that correspondence to Ms. Fagely may be sent to 500 Bielenberg Drive, Woodbury, Minnesota 55125.

The table below sets forth, for each director and officer, his or her name, year of birth, current position with the Fund and date first elected or appointed to The Hartford Mutual Funds, Inc. (“MF”) and The Hartford Mutual Funds II, Inc. (“MF2”), principal occupation, and, for directors, other directorships held. The Fund’s statement of additional information contains further information on the directors and is available free of charge by calling 1-888-843-7824 or writing to Hartford Mutual Funds, P.O. Box 64387, St. Paul, MN 55164-0387.

Information on the aggregate remuneration paid to the directors of the Fund can be found in the Statement of Operations herein. The Fund pays a portion of the Chief Compliance Officer’s compensation, but does not pay salaries or compensation to any of its officers or directors who are employed by The Hartford.

Non-Interested Directors

Lynn S. Birdsong (1946) Director since 2003, Co-Chairman of the Investment Committee

Mr. Birdsong is a private investor. Since 1981, Mr. Birdsong has been a partner in Birdsong Company, an advertising specialty firm. Since 2003, Mr. Birdsong has been an independent director of The Japan Fund. From 2003 to March 2005, Mr. Birdsong was an independent director of the Atlantic Whitehall Funds. From 1979 to 2002, Mr. Birdsong was a managing director of Zurich Scudder Investments, an investment management firm. During his employment with Scudder, Mr. Birdsong was an interested director of The Japan Fund.

Robert M. Gavin, Jr. (1940) Director since 2002 (MF) and 1986 (MF2), Chairman of the Board since 2004

Dr. Gavin is an educational consultant. Prior to September 1, 2001, he was President of Cranbrook Education Community and prior to July 1996, he was President of Macalester College, St. Paul, Minnesota.

Duane E. Hill (1945) Director since 2001 (MF) and 2002 (MF2), Chairman of the Nominating Committee

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

Sandra S. Jaffee (1941) Director since 2005

Ms. Jaffee is Chairman and Chief Executive Officer of Fortent (formerly Searchspace Group), a leading provider of compliance/regulatory technology to financial institutions. Ms. Jaffee served as an Entrepreneur in Residence with Warburg Pincus, a private equity firm, from August 2004 to August 2005. From September 1995 to July 2004, Ms. Jaffee served as Executive Vice President at Citigroup, where she was President and Chief Executive Officer of Citibank’s Global Securities Services (1995-2003).

William P. Johnston (1944) Director since 2005, Chairman of the Compliance Committee

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

21

The Hartford MidCap Growth Fund

Directors and Officers (Unaudited) — (continued)

Phillip O. Peterson (1944) Director since 2002 (MF) and 2000 (MF2), Chairman of the Audit Committee

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

Lemma W. Senbet (1946) Director since 2005

Dr. Senbet is the William E. Mayer Chair Professor of Finance at the University of Maryland, Robert H. Smith School of Business. He was chair of the Finance Department during 1998-2006. Previously he was an endowed professor of finance at the University of Wisconsin-Madison. Also, he was director of the Fortis Funds from March 2000-July 2002. Dr. Senbet served the finance profession in various capacities, including as director of the American Finance Association and President of the Western Finance Association. In 2006, Dr. Senbet was inducted Fellow of Financial Management Association International for his career-long distinguished scholarship and professional service.

Interested Directors and Officers

Thomas M. Marra* (1958) Director since 2002

Mr. Marra has served as President and Chief Operating Officer of The Hartford Financial Services Group, Inc. (“The Hartford”) since 2007. Mr. Marra currently serves as Director of Hartford Life, Inc. (“HL, Inc.”). Mr. Marra served as Chief Operating Officer of Hartford Life Insurance Company, Inc. (“Hartford Life”) (2000-2008), as President of Hartford Life (2002-2008) and as Director of Hartford Life’s Investment Products Division from 1998 to 2000.

*  On February 24, 2009, The Hartford and Mr. Marra determined to enter into a mutually agreed separation whereby Mr. Marra will retire, and his role as an executive officer and employee of The Hartford will terminate, effective July 3, 2009. Mr. Marra will resign his position as a Director of the Fund effective June 25, 2009.

Lowndes A. Smith (1939) Director since 2002, Co-Chairman of the Investment Committee

Mr. Smith served as Vice Chairman of The Hartford from February 1997 to January 2002, as President and Chief Executive Officer of Hartford Life, Inc. from February 1997 to January 2002, and as President and Chief Operating Officer of The Hartford Life Insurance Companies from January 1989 to January 2002. Mr. Smith serves as a Director of White Mountains Insurance Group, Ltd., One Beacon Insurance, Symetra Financial and as a Managing Director of Whittington Gray Associates.

John C. Walters* (1962) Director since 2008

Mr. Walters currently serves as Chief Executive Officer, President and Director of HL, Inc. Mr. Walters previously served as President of the U.S. Wealth Management Division of Hartford Life, Inc., as Co-Chief Operating Officer of Hartford Life Insurance Company (2007-2008) and as Executive Vice President and Director of its Investment Products Division (2000-2008). Mr. Walters also serves as Chairman of the Board, Chief Executive Officer, President and Director of Hartford Life Insurance Company and as Executive Vice President of The Hartford. In addition, Mr. Walters is Manager of HL Investment Advisors, LLC (“HL Advisors”).

*  Mr. Walters previously served as President and Chief Executive Officer of the Fund (2007 — 2009).

Other Officers

Robert M. Arena, Jr. (1968) President and Chief Executive Officer since 2009 (served as Vice President of the Fund (2006 — 2009))

Mr. Arena serves as Executive Vice President of Hartford Life Insurance Company, (“Hartford Life”). Additionally, Mr. Arena is Director and Senior Vice President of Hartford Administrative Services Company, (“HASCO”), Manager, Chief Executive Officer and President of Hartford Investment Financial Services, LLC (“HIFSCO”) and HL Advisors. Prior to joining The Hartford in 2004, he was Senior Vice President in charge of Product Management for American Skandia/Prudential in the individual annuities division. Mr. Arena joined American Skandia in 1996.

Tamara L. Fagely (1958) Vice President, Treasurer and Controller since 2002 (MF) 1993 (MF2)

Ms. Fagely has been a Vice President of HASCO since 1998 and Chief Financial Officer since 2006. Currently Ms. Fagely is a Vice President of Hartford Life. She served as Assistant Vice President of Hartford Life from December 2001 through March 2005. In addition, Ms. Fagely is Controller and Chief Financial Officer of HIFSCO.

Brian Ferrell (1962) AML Compliance Officer since 2008

Mr. Ferrell has served as Assistant Vice President and AML Compliance Officer for The Hartford since 2006 and as AML Compliance Officer for HASCO and Hartford Investor Services Company, LLC (“HISC”) since 2008. Prior to joining The Hartford in 2006, Mr. Ferrell held various positions at the U.S. Department of the Treasury, (the “Treasury”), from 2001 to 2006 where he served as Chief Counsel for the Treasury’s Financial Crimes Enforcement Network, (“FinCEN”) from 2005 — 2006.

22

Thomas D. Jones, III (1965) Vice President and Chief Compliance Officer since 2006

Mr. Jones serves as Chief Compliance Officer for the Hartford Mutual Funds and Vice President and Director of Securities Compliance for The Hartford. He is also Vice President of HIFSCO, HL Advisors, and Hartford Life Insurance Company. Mr. Jones joined The Hartford in 2006 from SEI Investments, where he served as Chief Compliance Officer for its mutual funds and investment advisers. Prior to joining SEI, Mr. Jones was First Vice President and Compliance Director for Merrill Lynch Investment Managers (Americas) (“MLIM”), where he worked from 1992-2004. At MLIM, Mr. Jones was responsible for the compliance oversight of various investment products, including mutual funds, wrap accounts, institutional accounts and alternative investments.

Edward P. Macdonald (1967) Vice President, Secretary and Chief Legal Officer since 2005

Mr. Macdonald serves as Assistant General Counsel and Assistant Vice President of The Hartford and Chief Legal Officer and Vice President of HIFSCO. He also serves as Vice President and Secretary of HASCO, Assistant Vice President of Hartford Life, and Chief Legal Officer, Secretary and Vice President of HL Advisors. Prior to joining The Hartford in 2005, Mr. Macdonald was Chief Counsel, Investment Management for Prudential Financial (formerly American Skandia Investment Services, Inc.). He joined Prudential in April 1999.

Vernon J. Meyer (1964) Vice President since 2006

Mr. Meyer serves as Senior Vice President of Hartford Life and as Director of its Investment Advisory Group in the Individual Markets Group segment. He also serves as Senior Vice President of HIFSCO and HL Advisors. Prior to joining The Hartford in 2004, Mr. Meyer was with MassMutual which he joined in 1987.

D. Keith Sloane (1960) Vice President since 2009

Mr. Sloane is a Senior Vice President of Hartford Life where he serves as Director of mutual fund product management for The Hartford’s mutual funds and 529 college savings businesses. Additionally, Mr. Sloane currently serves as Senior Vice President of HIFSCO, HL Advisors, and HASCO. Prior to joining The Hartford in 2007, Mr. Sloane was Director of product marketing and led the mutual fund business for Wachovia Securities (“Wachovia”) in their investment products group. Mr. Sloane joined Wachovia in 1995.

Jane Wolak (1961) Vice President since 2009

Ms. Wolak currently serves as Vice President of Hartford Life. Ms. Wolak joined Hartford Life as Vice President, Retail Product Services in May 2007. She is also Vice President of HASCO. Previously, Ms. Wolak was with Sun Life Financial where she held the position of Vice President, Service Center Operations from 2001 – 2007.

HOW TO OBTAIN A COPY OF THE FUND’S PROXY VOTING POLICIES AND VOTING RECORDS

A description of the policies and procedures that the Fund uses to determine how to vote proxies relating to portfolio securities and a record of how the Fund voted any proxies for the twelve-month period ended June 30, 2008 is available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov.

QUARTERLY PORTFOLIO HOLDINGS INFORMATION

The Fund files a complete schedule of portfolio holdings with the Commission for the first and third quarters of each fiscal year on Form N-Q. The Fund’s Forms are available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov. The Form N-Q may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330.

23

The Hartford MidCap Growth Fund

Expense Example (Unaudited)

Your Fund’s Expenses

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments and contingent deferred sales charges (CDSC) (2) ongoing costs including management fees; distribution fees; and other fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the period of October 31, 2008 through April 30, 2009.

Actual Expenses

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

Hypothetical Example for Comparison Purposes

The second set of columns of the table below provides information about hypothetical account values and hypothetical expenses based on the Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Fund’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads) and CDSC. Therefore, the second line 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 are equal to the Fund’s annualized expense ratios multiplied by average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

	Actual return						Hypothetical (5% return before expenses)
					Expenses paid						Expenses paid					Days in
					during the period						during the period					the		Days
	Beginning		Ending Account		October 31, 2008		Beginning		Ending Account		October 31,		Annualized			current		in the
	Account Value		Value		through		Account Value		Value		2008 through		expense			1/2		full
	October 31, 2008		April 30, 2009		April 30, 2009		October 31, 2008		April 30, 2009		April 30, 2009		ratio			year		year
Class A	$	1,000.00	$	1,038.07	$	5.81	$	1,000.00	$	1,019.09	$	5.75		1.15	%		181		365
Class B	$	1,000.00	$	1,035.65	$	7.26	$	1,000.00	$	1,017.65	$	7.20		1.44			181		365
Class C	$	1,000.00	$	1,034.12	$	8.97	$	1,000.00	$	1,015.96	$	8.89		1.78			181		365
Class Y	$	1,000.00	$	1,037.39	$	4.79	$	1,000.00	$	1,020.08	$	4.75		0.95			181		365

24

The Hartford MidCap Value Fund

Table of Contents

Manager Discussions (Unaudited)	2
Financial Statements
Schedule of Investments at April 30, 2009 (Unaudited)	4
Statement of Assets and Liabilities at April 30, 2009 (Unaudited)	7
Statement of Operations for the Six Month Period Ended April 30, 2009 (Unaudited)	8
Statement of Changes in Net Assets for the Six Month Period Ended April 30, 2009 (Unaudited) and the Year Ended October 31, 2008	9
Notes to Financial Statements (Unaudited)	10
Financial Highlights (Unaudited)	20
Directors and Officers (Unaudited)	21
How to Obtain a Copy of the Fund’s Proxy Voting Policies and Proxy Voting Records (Unaudited)	23
Quarterly Portfolio Holdings Information (Unaudited)	23
Expense Example (Unaudited)	24

The Hartford MidCap Value Fund*

(subadvised by Wellington Management Company, LLP)

Performance Overview(1) 4/30/01 — 4/30/09

Growth of a $10,000 investment in Class A which includes Sales Charge

Russell 2500 Value Index is an unmanaged index measuring the performance of those Russell 2500 Index companies with lower price-to-book ratios and lower forecasted growth values.

You cannot invest directly in an index.

The value of shares will fluctuate so that, when redeemed, shares may be worth more or less than their original cost. The chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.

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

Investment objective – Seeks long-term capital appreciation.

Average Annual Total Returns(2,3) (as of 4/30/09)

	Inception		1			5			Since
	Date		Year			Year			Inception
MidCap Value A#		4/30/01		-30.76	%		-1.05	%		1.85	%
MidCap Value A##		4/30/01		-34.56	%		-2.16	%		1.14	%
MidCap Value B#		4/30/01		-31.18	%		-1.74	%		1.14	%
MidCap Value B##		4/30/01		-34.62	%		-1.97	%		1.14	%
MidCap Value C#		4/30/01		-31.28	%		-1.80	%		1.12	%
MidCap Value C##		4/30/01		-31.97	%		-1.80	%		1.12	%
MidCap Value Y#		4/30/01		-30.47	%		-0.63	%		2.32	%

#	Without sales charge
##	With sales charge
*	As of August 16, 2004, the Fund no longer offers Class A, B and C shares except as follows. The Fund will continue to offer and sell shares: (1) through ACH and other similar systematic investment facilities to investors who established plans to invest through such facilities prior to August 16, 2004 and (2) for reinvestment of capital gains distributions and income dividends.
	As of March 1, 2008, the Fund no longer offers Class Y shares to new investments except as follows. The Fund will continue to offer and sell shares: (1) for accounts established prior to March 1, 2008; (2) for reinvestment of capital gains distributions and income dividends; (3) as an underlying investment of the Smart529 College Savings Plan; and (4) as an underlying investment of a Hartford sponsored mutual fund-of-funds.
	The Fund continues to pay 12b-1 fees. These fees are paid for ongoing shareholder services, to compensate brokers for past sales and to reimburse the Fund’s distributor for commissions paid in connection with past sales.

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)	Growth of a $10,000 investment in Classes B, C and Y shares will vary from results seen above due to differences in the expenses charged to these share classes.
(2)	The initial investment in Class A shares reflects the maximum sales charge and Classes B and C reflect CDSC.
(3)	Total returns presented above were calculated using the Fund’s net asset value available to shareholders for sale or redemption of Fund shares on April 30, 2009, which excludes investment transactions as of this date.

Portfolio Manager
James N. Mordy
Senior Vice President, Partner

How did the Fund perform?

The Class A shares of The Hartford MidCap Value Fund returned 6.04%, before sales charge, for the six-month period ended April 30, 2009, outperforming its benchmark, the Russell 2500 Value Index, which returned -8.12% for the same period. The Fund also outperformed the -1.96% return of the average fund in the Lipper Mid-Cap Value Fund peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

Following the steep global markets sell off in 2008, equities continued to decline sharply early in 2009, reaching a 12-year bottom during the month of March. Strong government intervention, coupled with a sequential improvement in economic indicators and consumer sentiment, led to a significant market rally off the March lows. Recent signs of a bottoming in the fortunes of the financial industry, coupled with aggressive intervention by the Federal Reserve in the capital markets appear

2

to have increased investor risk appetite, despite continuing softness in demand and high unemployment.

During the period, mid cap stocks (-0.2%) outperformed small (-8.4%) and large cap stocks (-8.5%), as measured by the S&P MidCap 400, Russell 2000 and S&P 500 indices, respectively. Growth stocks (0.7%) significantly out-paced Value stocks (-8.1%) during the period, as measured by the Russell 2500 Growth and Russell 2500 Value indices, respectively. Within the Russell 2500 Value benchmark, only four of ten sectors posted positive returns. Consumer Discretionary and Information Technology were the strongest positive performers while Energy and Financials lagged the most, on a relative basis.

The Fund’s relative (i.e. performance of the Fund as measured against the benchmark) outperformance was primarily driven by strong stock selection in nine of the ten broad economic sectors. Stock selection was strongest within Financials, Energy, Consumer Staples and Materials. Overall sector allocation, a result of bottom-up (i.e. stock by stock fundamental research) security selection, contributed positively to relative performance, particularly our underweight (i.e. the Fund’s sector position was less than the benchmark position) position in Financials and overweight (i.e. the Fund’s sector position was greater than the benchmark position) positions in Information Technology, Health Care and Consumer Discretionary.

The largest contributors to absolute (i.e. total return) and benchmark-relative performance included PHH (Financials), Buck Holdings (Consumer Discretionary) and Marine Harvest (Consumer Staples). Shares of PHH, a leading provider of private label mortgage services and commercial fleet vehicle management, rose during the period due to robust profit margins from both of the company’s business lines. Buck Holdings is a holding company for retailer Dollar General. According to Wellington Management’s peer-based valuation methodology, this non-tradable security rose during the period as the “dollar store” model is performing well in this economy, as consumers seek to stretch their budgets. Salmon farming company Marine Harvest’s shares moved significantly higher as the global supply-demand balance tightened and fish prices increased. In addition, Wall Street’s concerns that the company would need to raise equity to repay debt abated as interest coverage metrics improved with rising product prices. The Fund held positions in these three stocks at the end of the period.

The largest detractors from absolute and relative returns included Delta Air Lines (Industrials), Popular (Financials) and Impax Labs (Health Care). Shares of Delta fell as demand for air travel declined even faster than aggressive industry capacity cuts, while a decline in high-fare business travel also affected revenue-per-seat metrics. Shares of Popular, a diversified financial services company targeting the Hispanic market, declined due to the company’s exposure to the ailing U.S. economy and worsening prospects for Puerto Rico. Shares of drug maker Impax Labs resumed trading following a prolonged suspension. Despite positive fundamentals, the stock has encountered what we believe to be mostly technical selling pressure. We held positions in all of these stocks at the end of the period.

What is the outlook?

The U.S. economy appears to be bottoming out and hinting at a potential positive GDP (Gross Domestic Product) during the third quarter of this year. While consumer sentiment, demand, and industrial production are still running at depressed levels, recent unemployment and production metrics point at early signs of an inflection point. That said, we are unlikely to see more conclusive indicators until lending activity comes back and the large fiscal stimulus fully hits the economy later this year and in 2010.

We have positioned the Fund a bit more aggressively toward the early cyclicals. During the period, we reduced our underweight position to Financials, as government action has provided some level of support to valuations. We also went from overweight to underweight in Industrials, a particularly vulnerable group given the sharp GDP contraction, and trimmed our overweight in Health Care, a sector that has worked well through the downturn but now faces, at a minimum, increased headline risk. On the consumer front, we went from underweight to overweight in Consumer Discretionary, a sector that seemed oversold to us, particularly as we anticipated some stabilization in retail and housing. At the end of the period, we remained overweight in Information Technology, where we think valuations have been excessively discounted.

Diversification by Industry
as of April 30, 2009

	Percentage of
Industry	Net Assets
Automobiles & Components		1.1	%
Banks		1.9
Capital Goods		5.7
Commercial & Professional Services		0.8
Consumer Durables & Apparel		6.2
Diversified Financials		8.9
Energy		5.7
Food, Beverage & Tobacco		5.2
Health Care Equipment & Services		4.6
Insurance		9.6
Materials		9.0
Media		1.8
Pharmaceuticals, Biotechnology & Life Sciences		3.9
Real Estate		5.0
Retailing		5.9
Semiconductors & Semiconductor Equipment		3.6
Software & Services		2.7
Technology Hardware & Equipment		7.5
Transportation		2.9
Utilities		7.1
Short-Term Investments		0.6
Other Assets and Liabilities		0.3
Total		100.0	%

3

The Hartford MidCap Value Fund

Schedule of Investments
April 30, 2009 (Unaudited)

(000’s Omitted)

Shares or Principal Amount ╬			Market Value ╪
COMMON STOCKS - 99.1%
		Automobiles & Components - 1.1%
	209	TRW Automotive Holdings Corp. •	$	1,805
		Banks - 1.9%
	37	Beneficial Mutual Bancorp, Inc. •		369
	58	Comerica, Inc.		1,209
	12	M&T Bank Corp.		635
	12	PNC Financial Services Group, Inc.		468
	140	Popular, Inc.		401
	2	Signature Bank •		41
				3,123
		Capital Goods - 5.7%
	14	AGCO Corp. •		347
	13	Alliant Techsystems, Inc. •		1,036
	30	AMETEK, Inc.		966
	16	Dover Corp.		505
	107	Pentair, Inc.		2,837
	42	Teledyne Technologies, Inc. •		1,347
	47	URS Corp. •		2,071
				9,109
		Commercial & Professional Services - 0.8%
	116	R.R. Donnelley & Sons Co.		1,356
		Consumer Durables & Apparel - 6.2%
	72	Mattel, Inc.		1,083
	123	MDC Holdings, Inc.		4,201
	104	Toll Brothers, Inc. •		2,105
	42	V.F. Corp.		2,483
				9,872
		Diversified Financials - 8.9%
	33	Affiliated Managers Group, Inc. •		1,859
	106	Ameriprise Financial, Inc.		2,796
	265	CIT Group, Inc.		588
	112	Invesco Ltd.		1,644
	296	PHH Corp. •		4,960
	144	TD Ameritrade Holding Corp. •		2,297
				14,144
		Energy - 5.7%
	82	Cie Gen Geophysique ADR •		1,175
	93	Newfield Exploration Co. •		2,897
	25	Noble Energy, Inc.		1,390
	43	SBM Offshore N.V.		700
	343	Uranium One, Inc. •		947
	120	Weatherford International Ltd. •		1,999
				9,108
		Food, Beverage & Tobacco - 5.2%
	6	Bunge Ltd. Finance Corp.		307
	2,145	Chaoda Modern Agriculture		1,220
	47	Dean Foods Co. •		969
	3,038	First Pacific Co., Ltd.		1,387
	172	Marfig Frigorificos E Comer •		858
	4,079	Marine Harvest •		1,838	��
	57	Perdigao S.A.		834
	97	Smithfield Foods, Inc. •		839
				8,252
		Health Care Equipment & Services - 4.6%
	53	Amerisource Bergen Corp.		1,786
	142	CIGNA Corp.		2,803
	24	Laboratory Corp. of America Holdings •		1,508
	40	West Pharmaceutical Services		1,316
				7,413
		Insurance - 9.6%
	42	Everest Re Group Ltd.		3,165
	55	Fidelity National Financial, Inc.		994
	33	First American Financial Corp.		929
	24	PartnerRe Ltd.		1,637
	85	Platinum Underwriters Holdings Ltd.		2,448
	99	Reinsurance Group of America, Inc.		3,152
	187	Unum Group		3,057
				15,382
		Materials - 9.0%
	43	Agrium U.S., Inc.		1,841
	82	Celanese Corp.		1,698
	66	Cliff’s Natural Resources, Inc.		1,510
	58	FMC Corp.		2,841
	55	Greif, Inc.		2,476
	26	JSR Corp.		317
	87	Owens-Illinois, Inc. •		2,129
	78	Pactiv Corp. •		1,710
				14,522
		Media - 1.8%
	369	Virgin Media, Inc.		2,849
		Pharmaceuticals, Biotechnology & Life Sciences - 3.9%
	49	Endo Pharmaceuticals Holdings, Inc. •		816
	26	H. Lundbeck A/S		464
	427	Impax Laboratories, Inc. •		2,256
	127	King Pharmaceuticals, Inc. •		1,004
	124	Theravance, Inc. •		1,778
				6,318
		Real Estate - 5.0%
	95	Annaly Capital Management, Inc.		1,338
	915	Chimera Investment Corp.		3,230
	113	Kimco Realty Corp.		1,352
	9	Mack-Cali Realty Corp.		231
	312	MFA Mortgage Investments, Inc.		1,836
				7,987
		Retailing - 5.9%
	187	American Eagle Outfitters, Inc.		2,777
	2,375	Buck Holdings L.P. ⌂ • †		4,226
	10	Genuine Parts Co.		323
	77	TJX Cos., Inc.		2,143
				9,469
		Semiconductors & Semiconductor Equipment - 3.6%
	200	Teradyne, Inc. •		1,188
	176	Varian Semiconductor Equipment Associates, Inc. •		4,494
				5,682
		Software & Services - 2.7%
	15	CACI International, Inc. Class A •		597
	69	McAfee, Inc. •		2,586
	71	Western Union Co.		1,184
				4,367
		Technology Hardware & Equipment - 7.5%
	194	Arrow Electronics, Inc. •		4,407
	447	Flextronics International Ltd. •		1,732
	182	JDS Uniphase Corp. •		839

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

4

Shares or Principal Amount ╬			Market Value ╪
COMMON STOCKS - 99.1% — (continued)
		Technology Hardware & Equipment - 7.5% — (continued)
	4,105	Kingboard Laminates Holdings	$	1,625
	107	NetApp, Inc. •		1,954
	182	Solar Cayman Ltd. ⌂ • †		1,489
				12,046
		Transportation - 2.9%
	64	Con-way, Inc.		1,581
	486	Delta Air Lines, Inc. •		2,998
				4,579
		Utilities - 7.1%
	313	N.V. Energy, Inc.		3,206
	149	Northeast Utilities		3,136
	31	TECO Energy, Inc.		328
	98	UGI Corp.		2,244
	59	Wisconsin Energy Corp.		2,350
				11,264
		Total common stocks (cost $195,370)	$	158,647
		Total long-term investments (cost $195,370)	$	158,647
SHORT-TERM INVESTMENTS - 0.6%
		Repurchase Agreements - 0.6%
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $217, collateralized by GNMA 4.50% - 6.50%, 2038 - 2039, value of $221)
$	217	0.18%, 04/30/2009	$	217
		BNP Paribas Securities Corp. TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $260, collateralized by FHLMC 4.50% - 6.50%, 2035 - 2039, FNMA 4.50% - 6.50%, 2034 - 2047, value of $265)
	260	0.17%, 04/30/2009		260
		Deutsche Bank Securities TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $363, collateralized by FHLMC 4.00% - 7.00%, 2021 - 2039, FNMA 6.00% - 7.00%, 2034 - 2038, GNMA 4.50% - 7.00%, 2024 - 2039, value of $370)
	363	0.17%, 04/30/2009		363
		UBS Securities, Inc. Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $1, collateralized by U.S. Treasury Bond 7.50%, 2024, value of$1)
	1	0.14%, 04/30/2009		1
		UBS Securities, Inc. TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $78, collateralized by FHLMC 8.00% - 15.00%, 2009 - 2021, FNMA 3.50% - 15.50%, 2012 - 2039, value of $80)
	78	0.16%, 04/30/2009		78
				919
		Total short-term investments (cost $919)	$	919

Total investments (cost $196,289) ▲	99.7	%	$	159,566
Other assets and liabilities	0.3	%		498
Total net assets	100.0	%	$	160,064

Note: Percentage of investments as shown is the ratio of the total market value to total net assets. Market value of investments in foreign securities represents 7.33% of total net assets at April 30, 2009.

Foreign securities that are principally traded on certain foreign markets are adjusted daily pursuant to a third party pricing service methodology approved by the Board of Directors in order to reflect an adjustment for factors occurring after the close of the foreign market but before the close of the New York Stock Exchange.

▲ At April 30, 2009, the cost of securities for federal income tax purposes was $198,738 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	8,569
Unrealized Depreciation		(47,741	)
Net Unrealized Depreciation	$	(39,172	)

†	The aggregate value of securities valued in good faith at fair value as determined under policies and procedures established by and under the supervision of the Fund’s Board of Directors at April 30, 2009 was $5,715, which represents 3.57% of total net assets. This calculation excludes securities that are principally traded in certain foreign markets and whose prices were adjusted pursuant to a third party pricing service methodology approved by the Board of Directors.
•	Currently non-income producing.
⌂	The following securities are considered illiquid. Illiquid securities are often purchased in private placement transactions, are often not registered under the Securities Act of 1933 and may have contractual restrictions on resale. A security may also be considered illiquid if the security lacks a readily available market or if its valuation has not changed for a certain period of time.

Period		Shares/
Acquired		Par		Security	Cost Basis
	06/2007		2,375	Buck Holdings L.P.	$	2,378
	03/2007		182	Solar Cayman Ltd. - 144A		2,543

The aggregate value of these securities at April 30, 2009 was $5,715 which represents 3.57% of total net assets.

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

5

The Hartford MidCap Value Fund

Schedule of Investments – (continued)
April 30, 2009 (Unaudited)

(000’s Omitted)

Forward Foreign Currency Contracts Outstanding at April 30, 2009

							Unrealized
	Market		Contract		Delivery		Appreciation/
Description	Value ╪		Amount		Date		(Depreciation)
Norwegian Krone (Sell)	$	27	$	26		05/04/09	$	(1	)
Norwegian Krone (Sell)		72		72		05/05/09		—
							$	(1	)

╪ See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of securities.

FAS 157 Disclosure of Investment Valuation Hierarchy Levels

Assets:
Investment in securities — Level 1	$	145,382
Investment in securities — Level 2		8,469
Investment in securities — Level 3		5,715
Total	$	159,566
Liabilities:
Other financial instruments — Level 2 *		1
Total	$	1

* Other financial instruments are derivative instruments not reflected in the Schedule of Investments, such as futures, forwards and swap contracts, which are valued at the unrealized appreciation/depreciation on the investment.

Following is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value:

Assets:
Securities:
Balance as of October 31, 2008	$	8,200
Change in unrealized appreciation ♦		1,291
Net sales		(190	)
Transfers in and /or out of Level 3		(3,586	)
Balance as of April 30, 2009	$	5,715

♦    Change in unrealized gains or losses relating to assets still held at April 30, 2009 $ 1,291

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

6

The Hartford MidCap Value Fund

Statement of Assets and Liabilities
April 30, 2009
(Unaudited)

(000’s Omitted)

Assets:
Investments in securities, at fair value (cost $196,289)	$	159,566
Cash		1
Unrealized appreciation on forward foreign currency contracts		—
Receivables:
Investment securities sold		2,139
Fund shares sold		7
Dividends and interest		98
Other assets		138
Total assets		161,949
Liabilities:
Unrealized depreciation on forward foreign currency contracts		1
Payables:
Investment securities purchased		1,500
Fund shares redeemed		224
Investment management fees		21
Distribution fees		11
Accrued expenses		128
Total liabilities		1,885
Net assets	$	160,064
Summary of Net Assets:
Capital stock and paid-in-capital		268,729
Accumulated undistributed net investment income		117
Accumulated net realized loss on investments and foreign currency transactions		(72,059	)
Unrealized depreciation of investments and the translation of assets and liabilities denominated in foreign currency		(36,723	)
Net assets	$	160,064
Shares authorized		300,000
Par value	$	0.001
Class A: Net asset value per share/Maximum offering price per share	$	6.90/$7.30
Shares outstanding		16,309
Net assets	$	112,552
Class B: Net asset value per share	$	6.38
Shares outstanding		3,480
Net assets	$	22,207
Class C: Net asset value per share	$	6.37
Shares outstanding		3,248
Net assets	$	20,701
Class Y: Net asset value per share	$	7.22
Shares outstanding		638
Net assets	$	4,604

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

7

The Hartford MidCap Value Fund

Statements of Operations
For the Six Month Period Ended April 30, 2009 (Unaudited)

(000’s Omitted)

Investment Income:
Dividends	$	1,627
Interest		1
Securities lending		7
Less: Foreign tax withheld		(9	)
Total investment income		1,626
Expenses:
Investment management fees		614
Transfer agent fees		383
Distribution fees
Class A		134
Class B		104
Class C		100
Custodian fees		8
Accounting services		11
Registration and filing fees		24
Board of Directors’ fees		3
Audit fees		6
Other expenses		58
Total expenses (before waivers and fees paid indirectly)		1,445
Expense waivers		(261	)
Transfer agent fee waivers		(161	)
Commission recapture		(4	)
Custodian fee offset		—
Total waivers and fees paid indirectly		(426	)
Total expenses, net		1,019
Net investment income		607
Net Realized Loss on Investments and Foreign Currency Transactions:
Net realized loss on investments in securities		(38,196	)
Net realized loss on foreign currency transactions		(1	)
Net Realized Loss on Investments and Foreign Currency Transactions		(38,197	)
Net Changes in Unrealized Appreciation of Investments:
Net unrealized appreciation of investments		43,424
Net unrealized appreciation on translation of other assets and liabilities in foreign currencies		—
Net Changes in Unrealized Appreciation of Investments		43,424
Net Gain on Investments and Foreign Currency Transactions		5,227
Net Increase in Net Assets Resulting from Operations	$	5,834

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

8

The Hartford MidCap Value Fund

Statement of Changes in Net Assets

(000’s Omitted)

	For the Six-Month
	Period Ended			For the
	April 30, 2009			Year Ended
	(Unaudited)			October 31, 2008
Operations:
Net investment income (loss)	$	607		$	(78	)
Net realized loss on investments and foreign currency transactions		(38,197	)		(33,349	)
Net unrealized appreciation (depreciation) of investments		43,424			(146,998	)
Net increase (decrease) in net assets resulting from operations		5,834			(180,425	)
Distributions to Shareholders:
From net investment income
Class A		(406	)		—
Class Y		(84	)		—
From net realized gain on investments
Class A		—			(51,758	)
Class B		—			(10,795	)
Class C		—			(11,178	)
Class Y		—			(318	)
Total distributions		(490	)		(74,049	)
Capital Share Transactions:
Class A		(19,352	)		(5,633	)
Class B		(3,003	)		(1,329	)
Class C		(4,364	)		(2,633	)
Class Y		(3,290	)		11,361
Net increase (decrease) from capital share transactions		(30,009	)		1,766
Net decrease in net assets		(24,665	)		(252,708	)
Net Assets:
Beginning of period		184,729			437,437
End of period	$	160,064		$	184,729
Accumulated undistributed net investment income (loss)	$	117		$	—

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

9

The Hartford MidCap Value Fund

Notes to Financial Statements
April 30, 2009 (Unaudited)

(000’s Omitted)

1.	Organization:
	The Hartford Mutual Funds, Inc. (“Company”) is an open-end management investment company comprised of fifty-two portfolios. Financial statements for The Hartford MidCap Value Fund (the “Fund”), a series of the Company, are included in this report.
	The Company is organized under the laws of the State of Maryland and is registered with the Securities and Exchange Commission (“SEC”) under the Investment Company Act of 1940, as amended (“1940 Act”). The Fund is a diversified open-end management investment company.
	Class A shares are sold with a front-end sales charge of up to 5.50%. Class B shares are sold with a contingent deferred sales charge which is assessed on the lesser of the per share net asset value (“NAV”) of the shares at the time of redemption or the original purchase price, and declines from up to 5.00% to zero depending on the period of time the shares are held. Class C shares are sold with a contingent deferred sales charge of up to 1.00% on shares redeemed within twelve months of purchase. Class Y shares, which are sold to certain eligible institutional investors, are sold without a sales charge. All classes of shares have identical voting, redemption, dividend, liquidation and other rights and the same terms and conditions, with the exceptions that each class may have different expenses, which may affect performance, and except that Class B shares automatically convert to Class A shares after 8 years.
	Effective at the close of business on September 30, 2009 (the “Close Date”), no new or additional investments will be allowed in Class B shares of The Hartford Mutual Funds (including investments through any systematic investment plan). After the Close Date, existing shareholders of Class B shares may continue to hold their Class B shares, exchange their Class B shares for Class B shares of another Hartford Mutual Fund (as permitted by existing exchange privileges), and redeem their Class B shares as described in the Fund’s prospectus. Reinstatement privileges with respect to Class B shares will continue under the current policy. If you have chosen to reinvest capital gains and dividends, any such capital gains or dividends on Class B shares will continue to be reinvested in Class B shares of the Fund. For Class B shares outstanding as of the Close Date, all Class B share attributes, including the 12b-1 fee, contingent deferred sales charge schedule, and conversion to Class A shares remain unchanged.
2.	Significant Accounting Policies:
	The following is a summary of significant accounting policies of the Fund, which are in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”).

a)	Security Transactions and Investment Income - Security transactions are recorded on the trade date (the date the order to buy or sell is executed). Security gains and losses are determined on the basis of identified cost.
	Dividend income is accrued as of the ex-dividend date, except that certain dividends for foreign securities where the ex-dividend date may have passed are recorded as soon as the Fund is informed of the dividend in the exercise of reasonable diligence. Interest income, including amortization of premium and accretion of discounts, is accrued on a daily basis.
b)	Security Valuation – The Fund generally uses market prices in valuing portfolio securities. If market prices are not readily available or are deemed unreliable, the Fund will use the fair value of the security as determined in good faith under policies and procedures established by and under the supervision of the Fund’s Board of Directors. Market prices may be deemed unreliable, for example, if a security is thinly traded or if an event has occurred after the close of the security’s primary markets, but before the close of the New York Stock Exchange (the “Exchange”) (normally 4:00 p.m. Eastern Time, referred to as the “Valuation Time”) that is expected to affect the value of the portfolio security. The circumstances in which the Fund may use fair value pricing include, among others: (i) the occurrence of events that are significant to a particular issuer, such as mergers, restructuring or defaults; (ii) the occurrence of events that are significant to an entire market, such as natural disasters in a particular region or governmental actions; (iii) trading

10

	restrictions on securities; (iv) thinly traded securities and (v) market events such as trading halts and early market closings. In addition, with respect to the valuation of stocks primarily traded on foreign markets, the Fund uses a fair value pricing service approved by the Fund’s Board of Directors, which employs quantitative models that evaluate changes in the value of foreign market proxies (e.g., futures contracts, ADR’s, exchange traded funds (“ETF’s”)) after the close of the foreign markets but before the close of the Exchange. Securities that are primarily traded on foreign markets may trade on days that are not business days of the Fund. The value of the foreign securities in which the Fund invests may change on days when a shareholder will not be able to purchase or redeem shares of the Fund. Fair value pricing is subjective in nature and the use of fair value pricing by the Fund may cause the NAV of its shares to differ significantly from the NAV that would have been calculated using market prices at the close of the exchange on which a portfolio security is primarily traded but before the close of the Exchange. There can be no assurance that the Fund could obtain the fair value assigned to a security if the Fund were to sell the security at approximately the time at which the Fund determines its NAV.
	Exchange traded equity securities shall be valued at the last reported sale price on the exchange or market on which the security is primarily traded (the “Primary Market”) at the Valuation Time. If the security did not trade on the Primary Market, it may be valued at the Valuation Time at the last reported sale price on another exchange where it trades. The value of an equity security not traded on any exchange but traded on the Nasdaq Stock Market, Inc. (“Nasdaq”) or another over-the-counter market shall be valued at the last reported sale price or official closing price on the exchange or market on which the security is traded as of the Valuation Time. If it is not possible to determine the last reported sale price or official closing price on the relevant exchange or market at the Valuation Time, the value of the security shall be taken to be the most recent mean between bid and asked prices on such exchange or market at the Valuation Time.
	Securities of foreign issuers and non-dollar securities are translated from the local currency into U.S. dollars using prevailing exchange rates.
	Financial instruments for which prices are not available from an independent pricing service are valued using market quotations obtained from one or more dealers that make markets in securities in accordance with procedures established by the Fund’s Board of Directors.
	A forward currency contract shall be valued based on the price of the underlying currency at the prevailing interpolated exchange rate, which is a combination of the spot currency rate and the forward currency rate. Spot currency rates and forward currency rates are obtained from an independent pricing service on a daily basis not more than one hour before the Valuation Time.
	Other derivative or contractual type instruments shall be valued using market prices if such instruments trade on an exchange or market. If such instruments do not trade on an exchange or market, such instruments shall be valued at a price at which the counterparty to such contract would repurchase the instrument. In the event that the counterparty cannot provide a price, such valuation may be determined in accordance with procedures established by the Fund’s Board of Directors.
c)	Foreign Currency Transactions — The accounting records of the Fund are maintained in U.S. dollars. All assets and liabilities initially expressed in foreign currencies are converted into U.S. dollars at the prevailing exchange rates. Purchases and sales of investment securities, dividend and interest income and certain expenses are translated at the rates of exchange prevailing on the respective dates of such transactions.
	The Fund does not isolate that portion of portfolio security valuation resulting from fluctuations in the foreign currency exchange rates on portfolio securities from the fluctuations arising from changes in the market prices of securities held. Such fluctuations are included with the net realized and unrealized gain or loss on investments in the accompanying financial statements.
	Net realized foreign exchange gains or losses arise from sales of foreign currencies and the difference between asset and liability amounts initially stated in foreign currencies and the U.S. dollar value of the amounts actually received or paid.

11

The Hartford MidCap Value Fund

Notes to Financial Statements – (continued)
April 30, 2009 (Unaudited)

(000’s Omitted)

	Net unrealized foreign exchange gains or losses arise from changes in the value of other assets and liabilities at the end of the reporting period, resulting from changes in the exchange rates.
d)	Securities Lending - The Fund may lend its securities to certain qualified brokers who pay the Fund negotiated lender fees. The loans are fully collateralized at all times with cash and/or U.S. Government Securities and/or repurchase agreements. The cash collateral is then invested in short-term money market instruments. The repurchase agreements are fully collateralized by U.S. Government Securities. The adequacy of the collateral for securities on loan is monitored on a daily basis. For instances where the market value of collateral falls below the market value of the securities out on loan, such collateral is supplemented on the following business day.
	While securities are on loan, the Fund is subject to the following risks: 1) that the borrower may default on the loan and that the collateral could be inadequate in the event the borrower defaults, 2) that the earnings on the collateral invested may not be sufficient to pay fees incurred in connection with the loan, 3) that the principal value of the collateral invested may decline and may not be sufficient to pay back the borrower for the amount of the collateral posted, 4) that the borrower may use the loaned securities to cover a short sale which may place downward pressure on the market prices of the loaned securities, 5) that return of loaned securities could be delayed and could interfere with portfolio management decisions and 6) that any efforts to recall the securities for purposes of voting a proxy may not be effective. The Fund had no securities out on loan as of April 30, 2009.
e)	Joint Trading Account - Pursuant to an exemptive order issued by the SEC, the Fund may transfer uninvested cash balances into a joint trading account managed by Wellington Management Company, LLP (“Wellington”). These balances may be invested in one or more repurchase agreements and/or short-term money market instruments.
f)	Repurchase Agreements - A repurchase agreement is an agreement by which the seller of a security agrees to repurchase the security sold at a mutually agreed upon time and price. At the time the Fund enters into a repurchase agreement, the value of the underlying collateral security(ies), including accrued interest, will be equal to or exceed the value of the repurchase agreement. Securities that serve to collateralize the repurchase agreement are held by the Fund’s custodian in book entry or physical form in the custodial account of the Fund or in a third party custodial account. Repurchase agreements are valued at cost plus accrued interest. The Fund, as shown on the Schedule of Investments, had outstanding repurchase agreements as of April 30, 2009.
g)	Forward Foreign Currency Contracts – The Fund may enter into forward foreign currency contracts that obligate the Fund to repurchase/replace or sell currencies at specified future dates. Forward foreign currency contracts may be used to hedge against adverse fluctuations in exchange rates between currencies.
	Forward foreign currency contracts involve elements of market risk in excess of the amount reflected in the Statement of Assets and Liabilities. In addition, risks may arise upon entering into these contracts from the potential inability of the counterparties to meet the terms of the contracts and from unanticipated movements in the value of the foreign currencies relative to the U.S. dollar.
h)	Fund Share Valuation and Dividend Distributions to Shareholders — Orders for the Fund’s shares are executed in accordance with the investment instructions of the shareholders. The NAV of the Fund’s shares is determined as of the close of each business day of the Exchange. The NAV is determined separately for each class of the Fund by dividing the Fund’s net assets attributable to that class by the number of shares of the class outstanding. Orders for the purchase of the Fund’s shares prior to the close of the Exchange on any day on which the Exchange is open for business are priced at the NAV determined as of the close of the Exchange. Orders after the close of the Exchange, or on a day on which the Exchange and/or the Fund is not open for business, are priced at the next determined NAV.
	The Fund intends to distribute substantially all of its net investment income and net realized capital gains to shareholders no less frequently than once a year. Normally, dividends from net investment income of the Fund are declared and paid

12

	annually. Dividends are paid on shares beginning on the business day after the day when the funds used to purchase the shares are collected by the transfer agent for the Fund. Unless shareholders specify otherwise, all dividends will be automatically reinvested in additional full or fractional shares of the Fund.
	Distributions from net investment income, realized capital gains and capital are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP with respect to character and timing. These differences include but are not limited to foreign currency gains and losses, losses deferred due to wash sales adjustments, adjustments related to Passive Foreign Investment Companies and certain derivatives, and excise tax regulations. Permanent book and federal income tax basis differences relating to shareholder distributions will result in reclassifications to certain of the Fund’s capital accounts (see Federal Income Taxes: Reclassification of Capital Accounts footnote).
i)	Illiquid and Restricted Securities – The Fund is permitted to invest up to 15% of its net assets in illiquid securities. “Illiquid Securities” are those that may not be sold or disposed of in the ordinary course of business within seven days, at approximately the price used to determine the Fund’s NAV. The Fund may not be able to sell illiquid securities or other investments when its sub-adviser considers it desirable to do so or may have to sell such securities or investments at a price that is lower than the price that could be obtained if the securities or investments were more liquid. A sale of illiquid securities or other investments may require more time and may result in higher dealer discounts and other selling expenses than does the sale of those that are liquid. Illiquid securities and investments also may be more difficult to value, due to the unavailability of reliable market quotations for such securities or investments, and investment in them may have an adverse impact on the Fund’s NAV. The Fund may also purchase certain restricted securities, commonly known as Rule 144A securities, that can be resold to institutions and which may be determined to be liquid pursuant to policies and guidelines established by the Fund’s Board of Directors. The Fund, as shown in the Schedule of Investments, had illiquid or restricted securities as of April 30, 2009.
j)	Use of Estimates — The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and the reported amounts of income and expenses during the period. Operating results in the future could vary from the amounts derived from management’s estimates.
k)	Financial Accounting Standards Board Financial Accounting Standards No. 157 – Effective November 1, 2008, the Fund adopted Financial Accounting Standards Board (“FASB”) Statement of Financial Accounting Standards No. 157, “Fair Value Measurements” (“FAS 157”). This standard clarifies the definition of fair value for financial reporting, establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements. Fair value is defined under FAS 157 as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Under FAS 157, a fair value measurement should reflect all of the assumptions that market participants would use in pricing the asset or liability, including assumptions about the risk inherent in a particular valuation technique, the effect of a restriction on the sale or use of an asset, and the risk of nonperformance.
	Various inputs are used in determining the value of the Fund’s investment. These inputs are summarized, per FAS 157, into three broad hierarchy levels. This hierarchy is based on whether the valuation inputs are observable or unobservable. These levels are:

• Level 1 – Quoted prices in active markets for identical securities. Level 1 includes exchange-traded instruments such as domestic equities, some foreign equities, options, futures, mutual funds, ETF’s, and rights and warrants.

• Level 2 – Observable inputs other than Level 1 prices, such as quoted prices for similar securities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the security. Level 2 includes debt securities that are traded less frequently than exchange-traded instruments and that are valued using third party pricing services and foreign equities,

13

The Hartford MidCap Value Fund

Notes to Financial Statements – (continued)
April 30, 2009 (Unaudited)

(000’s Omitted)

whose value is determined using a multi-factor regression model with inputs that are observable in the market; and money market instruments, which are carried at amortized cost.

•

Level 3 – Significant unobservable inputs that are supported by little or no market activity. Level 3 includes financial instruments whose values are determined using broker quotes and require significant management judgment or estimation. This category includes broker quoted securities, long dated OTC options and securities where trading has been halted or there are certain restrictions on trading. While these securities are priced using unobservable inputs, the valuation of these securities reflects the best available data and management believes the prices are a good representation of exit price.

	Individual securities within any of the above mentioned asset classes may be assigned a different hierarchical level than those presented above, as individual circumstances dictate.
	FAS 157 also requires that a roll forward reconciliation be shown for all Level 3 securities from the beginning of the reporting period to the end of the reporting period. Part of this reconciliation includes transfers in and/or out of Level 3. For purposes of this reconciliation, transfers in are shown at the end of period fair value and transfers out are shown at the beginning of period fair value.
	Refer to the valuation hierarchy levels summary and the Level 3 roll forward reconciliation found following the Schedule of Investments.
	FASB Staff Position No. 157-4 – In April 2009, FASB released FASB Staff Position No. 157-4, “Determining Fair Value When the Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly” (“FSP FAS 157-4”). FSP FAS 157-4 provides additional guidance on determining whether a market for a financial asset is not active and a transaction is not distressed when measuring fair value under FAS 157. The FSP also requires additional disclosure detail on debt and equity securities by major investment categories. FSP FAS 157-4 is effective for interim and annual periods ending after June 15, 2009. At this time, management is evaluating the implications of FSP FAS 157-4 and does not believe it will impact valuation but will require additional disclosure. This additional disclosure has not yet been implemented.
l)	Financial Accounting Standards Board Financial Accounting Standards No. 161 – In March 2008, the FASB released Statement of Financial Accounting Standards No. 161, “Disclosures about Derivative Instruments and Hedging Activities” (“FAS 161”). FAS 161 requires companies to disclose information detailing the objectives and strategies for using derivative instruments, the level of derivative activity entered into by the company and any credit risk-related contingent features of the agreements. The application of FAS 161 is required for fiscal years and interim periods beginning after November 15, 2008. At this time, management is evaluating the implications of FAS 161 and has not yet implemented the new disclosure standard.
m)	Indemnifications: Under the Company’s organizational documents, the Company shall indemnify its officers and directors to the full extent required or permitted under Maryland General Corporation Law and the federal securities law. In addition, the Company, on behalf of the Fund, may enter into contracts that contain a variety of indemnifications. The Company’s maximum exposure under these arrangements is unknown. However, the Company has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote.

3. Federal Income Taxes:

a) Federal Income Taxes - For federal income tax purposes, the Fund intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code (“IRC”) by distributing substantially all of its taxable net investment income and net realized capital gains to its shareholders and otherwise complying with the requirements of regulated investment companies. The Fund has distributed substantially all of its income and capital gains in prior years and the Fund intends to distribute substantially all of its income and gains during the calendar year ending December 31, 2009. Accordingly, no provision for federal income or excise taxes has been made in the

14

accompanying financial statements. Distributions from short-term capital gains are treated as ordinary income distributions for federal income tax purposes.

b) The tax character of distributions paid by the Fund for the periods indicated is as follows (as adjusted for dividends payable):

	For the Year Ended		For the Year Ended
	October 31, 2008		October 31, 2007
Ordinary Income	$	10,962	$	14,105
Long-Term Capital Gains *		63,087		44,861

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

As of October 31, 2008, the Fund’s components of distributable earnings (deficit) on a tax basis were as follows:

	Amount
Accumulated Capital Losses*	$	(31,413	)
Unrealized Depreciation†	$	(82,596	)
Total Accumulated Deficit	$	(114,009	)

*	The Fund has capital loss carryforwards that are identified in the Capital Loss Carryforward note that follows.
†	The differences between book-basis and tax-basis unrealized appreciation (depreciation) are attributable to the tax deferral of wash sales losses, the mark-to-market adjustment for certain derivatives in accordance with IRC Sec. 1256, the mark to market for Passive Foreign Investment Companies and basis differences in real estate investment trusts.

c)

Reclassification of Capital Accounts - In accordance with American Institute of Certified Public Accountants (AICPA) Statement of Position 93-2, Determination, Disclosure, and Financial Statement Presentation of Income, Capital Gain, and Return of Capital Distributions by Investment Companies, the Fund has recorded reclassifications in its capital accounts. These reclassifications had no impact on the NAV of the Fund. The reclassifications are a result of permanent differences between GAAP and tax accounting for such items as net operating losses that reduce distribution requirements. Adjustments are made to reflect the impact these items have on current and future distributions to shareholders. Therefore, the source of the Fund’s distributions may be shown in the accompanying Statement of Changes in Net Assets as from net investment income, from net realized gains on investments or from capital depending on the type of book and tax differences that exist. As of October 31, 2008, the Fund recorded reclassifications to increase undistributed net investment income by $82, increase accumulated net realized gain by $137, and decrease paid in capital by $219.

d)

Capital Loss Carryforward - At October 31, 2008 (tax-year-end), the Fund had capital loss carryforwards for U.S. federal income tax purposes of approximately:

Year	Amount
2016	$	31,413
Total	$	31,413

e) Financial Accounting Standards Board Interpretation No. 48 – On July 13, 2006, the FASB released FASB Interpretation No. 48 “Accounting for Uncertainty in Income Taxes” (“FIN 48”). FIN 48 provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. The Fund adopted FIN 48 for fiscal years beginning after December 15, 2006. Management has evaluated the implications of FIN

15

The Hartford MidCap Value Fund

Notes to Financial Statements – (continued)
April 30, 2009 (Unaudited)

(000’s Omitted)

48 for all open tax years (tax years ended October 31, 2006 – 2008) and has determined there is no impact to the Fund’s financial statements.

4. Expenses:

a)

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

The schedule below reflects the rates of compensation paid to HIFSCO for investment management services rendered during the six-month period ended April 30, 2009; the rates are accrued daily and paid monthly:

Average Daily Net Assets	Annual Fee
On first $500 million		0.8000	%
On next $500 million		0.7250	%
On next $4 billion		0.6750	%
On next $5 billion		0.6725	%
Over $10 billion		0.6700	%

b) Accounting Services Agreement – Pursuant to the Fund Accounting Agreement between Hartford Life Insurance Company (“HLIC”) and the Fund, HLIC provides accounting services to the Fund and receives monthly compensation on the Fund’s average net assets. The Fund’s accounting service fees are accrued daily and paid monthly.

Average Daily Net Assets	Annual Fee
On first $5 billion		0.014	%
On next $5 billion		0.012	%
Over $10 billion		0.010	%

c) Operating Expenses - Allocable expenses incurred by the Company are allocated to each Fund and allocated to classes within the Fund in proportion to the average daily net assets of the Fund and each class, except where allocation of certain expenses is more fairly made directly to the Fund or to specific classes within a Fund. During the six-month period ended April 30, 2009, HIFSCO has contractually limited the total operating expenses of this Fund, exclusive of taxes, interest expense, brokerage commissions, certain distribution expenses and extraordinary expenses as follows:

Class A	Class B	Class C	Class Y
1.35%	2.10%	2.10%	0.95%

d) Fees Paid Indirectly - The Fund has entered into agreements with State Street Global Markets, LLC and Russell Implementation Services Inc. to partially recapture non-discounted trade commissions. Such rebates are used to pay a portion of the Fund’s expenses. In addition, the Fund’s custodian bank has also agreed to reduce its fees when the Fund maintains cash on deposit in the non-interest-bearing custody account. For the six-month period ended April 30, 2009, these amounts are included in the Statement of Operations.

16

The ratio of expenses to average net assets in the accompanying financial highlights excludes the reduction in expenses related to fees paid indirectly. Had the fees paid indirectly been included, the annualized expense ratio for the periods listed below would have been as follows:

	Annualized
	Six-Month
	Period			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended
	Ended April			October 31,			October 31,			October 31,			October 31,			October 31,
	30,2009			2008			2007			2006			2005			2004
Class A Shares		1.16	%		1.39	%		1.39	%		1.39	%		1.38	%		1.43	%
Class B Shares		1.70			2.05			2.15			2.14			2.13			2.13
Class C Shares		1.98			2.14			2.09			2.14			2.13			2.13
Class Y Shares		0.94			0.91			0.89			0.93			0.94			0.88

e)	Distribution and Service Plan for Class A, B and C Shares - HIFSCO is the principal underwriter and distributor of the Fund. HIFSCO is engaged in distribution activities, which include marketing and distribution of shares through broker-dealers, financing distribution costs and maintaining financial books and records. For the six-month period ended April 30, 2009, HIFSCO received front-end load sales charges of $23 and contingent deferred sales charges of $8 from the Fund.
	The Fund has adopted Distribution and Service Plans in accordance with Rule 12b-1 of the Investment Company Act of 1940, as amended, to compensate the distributor (HIFSCO) for activities intended to result in the sale and distribution of Classes A, B and C shares and for providing services for shareholders. The Rule 12b-1 plan applicable to Class A shares of the Funds provides for payment of a Rule 12b-1 fee of up to 0.35% of average daily net assets; however, the Board of Directors has currently authorized 12b-1 payments of only up to 0.25%. Some or all of the fee may be used for shareholder servicing expenses with the remainder used for distribution expenses. Some or the entire Rule 12b-1 fee for Class B shares may be remitted to broker-dealers for distribution and/or shareholder account services. Under the Class B Plan, the Fund pays the distributor 1.00% of the average daily net assets of Class B shares that are outstanding for 8 years or less, 0.25% of which is a fee for services provided to existing shareholders with the remainder used for distribution expenses. After eight years, Class B shares convert to Class A shares. Upon conversion to Class A shares, the Class A plan described above will apply to those shares. Under the Class C Plan, the Fund pays the Distributor 1.00% of the average daily net assets of Class C shares outstanding, 0.25% of which is intended as a fee for services provided to existing shareholders with the remainder used for distribution expenses. For Class C shares, some or the entire fee may be remitted to broker-dealers for distribution and/or shareholder account services. The Fund’s 12b-1 fees are accrued daily and paid monthly.
	For the six-month period ended April 30, 2009, total sales commissions paid to affiliated brokers/dealers of The Hartford for distributing the Fund’s shares were $2. These commissions are in turn paid to sales representatives of the broker/dealers.
f)	Other Related Party Transactions – Certain officers of the Fund are directors and/or officers of HIFSCO and/or The Hartford or its subsidiaries. For the six-month period ended April 30, 2009, a portion of the Fund’s chief compliance officer’s salary was paid by the Fund in an amount, which rounds to zero. Hartford Administrative Services Company (“HASCO”), an indirect wholly owned subsidiary of The Hartford, provides transfer agent services to the Fund. HASCO was compensated $269 for providing such services. These fees are accrued daily and paid monthly.

17

The Hartford MidCap Value Fund

Notes to Financial Statements – (continued)
April 30, 2009 (Unaudited)

(000’s Omitted)

g)	Payments from Affiliate:
	The total return in the accompanying financial highlights includes payment from affiliates. Had the payment from affiliates been excluded, the total return for the periods listed below would have been as follows:

	Impact from			Total Return
	Payment from			Excluding
	Affiliate for SEC			Payment from
	Settlement for the			Affiliate for the
	Year Ended			Year Ended
	October 31, 2007			October 31, 2007
Class A		0.01	%		16.71	%
Class B		0.01			15.85
Class C		0.01			15.93
Class Y		0.01			17.37

5.	Investment Transactions:
	For the six-month period ended April 30, 2009, the Fund’s aggregate purchases and sales of investment securities (excluding short-term investments) were as follows:

	Amount
Cost of Purchases Excluding U.S. Government Obligations	$	37,751
Sales Proceeds Excluding U.S. Government Obligations		67,586

6.	Capital Share Transactions:
	The following information is for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	For the Six-Month Period Ended April 30, 2009												For the Year Ended October 31, 2008
			Shares					Shares							Shares					Shares
			Issued for					Issued		Net Increase					Issued for					Issued		Net Increase
	Shares		Reinvested		Shares			from		(Decrease) of			Shares		Reinvested		Shares			from		(Decrease) of
	Sold		Dividends		Redeemed			Merger		Shares			Sold		Dividends		Redeemed			Merger		Shares
Class A
Shares		182		64		(3,542	)		—		(3,296	)		386		4,447		(6,258	)		—		(1,425	)
Amount	$	1,076	$	396	$	(20,824	)	$	—	$	(19,352	)	$	3,761	$	50,611	$	(60,005	)	$	—	$	(5,633	)
Class B
Shares		17		—		(570	)		—		(553	)		58		975		(1,371	)		—		(338	)
Amount	$	92	$	—	$	(3,095	)	$	—	$	(3,003	)	$	559	$	10,316	$	(12,204	)	$	—	$	(1,329	)
Class C
Shares		17		—		(817	)		—		(800	)		54		979		(1,519	)		—		(486	)
Amount	$	95	$	—	$	(4,459	)	$	—	$	(4,364	)	$	525	$	10,367	$	(13,525	)	$	—	$	(2,633	)
Class Y
Shares		101		13		(637	)		—		(523	)		1,236		27		(229	)		—		1,034
Amount	$	632	$	85	$	(4,007	)	$	—	$	(3,290	)	$	13,312	$	318	$	(2,269	)	$	—	$	11,361

The following reflects the conversion of Class B Shares into Class A Shares (reflected as Class A Shares issued and Class B shares redeemed) for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	Shares		Dollars
For the Six-Month Period Ended April 30, 2009		36	$	209
For the Year Ended October 31, 2008		108	$	1,071

18

7.	Line of Credit:
	The Fund is one of several Hartford Funds that participate in a $500 million committed revolving line of credit facility. The facility is to be used for temporary or emergency purposes. Under the arrangement, the Fund is required to own securities having a market value in excess of 300% of the total bank borrowings. The interest rate on borrowings varies depending on the nature of the loan. The facility also requires a fee to be paid based on the amount of the commitment. During the six-month period ended April 30, 2009, the Fund did not have any borrowings under this facility.
8.	Industry Classifications:
	Other than the industry classifications “Other Investment Pools and Funds” and “Exchange Traded Funds”, equity industry classifications used in this report are the Global Industry Classification Standard, which was developed by and is the exclusive property and service mark of MSCI, Inc. and Standard & Poor’s.

19

The Hartford MidCap Value Fund

Financial Highlights – (Unaudited)

–  Selected Per-Share Data – (a)																															– Ratios and Supplemental Data –
																																			Ratio of			Ratio of			Ratio of
																																			Expenses			Expenses			Expenses
																																			to Average			to Average			to Average
																																			Net Assets			Net Assets			Net Assets
																																			Before			After			After
								Net																											Waivers			Waivers			Waivers
								Realized																											and			and			and
								and Un-									Distrib-								Net										Reimburse-			Reimburse-			Reimburse-			Ratio of
			Net			Pay-		realized						Dividends			utions								Increase			Net							ments and			ments and			ments and			Net Invest-			Port-
	Net Asset		Invest-			ments		Gain						from Net			from			Distri-					(Decrease)			Asset					Net Assets		Including			Including			Excluding			ment			folio
	Value at		ment			from		(Loss) on			Total from			Invest-			Realized			butions		Total			in Net			Value at					at End of		Expenses			Expenses			Expenses			Income to			Turn-
	Beginning		Income			(to)		Invest-			Investment			ment			Capital			from		Distri-			Asset			End of		Total			Period		not Subject			not Subject			not Subject			Average			over
Class	of Period		(Loss)			Affiliate		ments			Operations			Income			Gains			Capital		butions			Value			Period		Return(b)			(000’s)		to Cap(c)			to Cap(c)			to Cap(c)			Net Assets			Rate(d)
For the Six-Month Period Ended April 30, 2009 (Unaudited) (e)
A	$	6.53	$	0.03		$	—	$	0.36		$	0.39		$	(0.02	)	$	—		$	—	$	(0.02	)	$	0.37		$	6.90		6.04	%(f)	$	112,552		1.69	%(g)		1.16	%(g)		1.16	%(g)		0.96	%(g)		24	%
B		6.03		0.01			—		0.34			0.35			—			—			—		—			0.35			6.38		5.80	(f)		22,207		2.65	(g)		1.70	(g)		1.70	(g)		0.42	(g)		—
C		6.03		—			—		0.34			0.34			—			—			—		—			0.34			6.37		5.64	(f)		20,701		2.37	(g)		1.98	(g)		1.98	(g)		0.14	(g)		—
Y		6.88		0.04			—		0.37			0.41			(0.07	)		—			—		(0.07	)		0.34			7.22		6.27	(f)		4,604		0.94	(g)		0.94	(g)		0.94	(g)		1.19	(g)		—
For the Year Ended October 31, 2008
A		14.80		0.02			—		(5.81	)		(5.79	)		—			(2.48	)		—		(2.48	)		(8.27	)		6.53		(46.26	)		127,999		1.44			1.40			1.40			0.15			52
B		13.95		(0.05	)		—		(5.39	)		(5.44	)		—			(2.48	)		—		(2.48	)		(7.92	)		6.03		(46.64	)		24,329		2.31			2.06			2.06			(0.50	)		—
C		13.96		(0.06	)		—		(5.39	)		(5.45	)		—			(2.48	)		—		(2.48	)		(7.93	)		6.03		(46.68	)		24,418		2.15			2.15			2.15			(0.59	)		—
Y		15.39		0.05			—		(6.08	)		(6.03	)		—			(2.48	)		—		(2.48	)		(8.51	)		6.88		(46.00	)		7,983		0.92			0.92			0.92			0.64			—
For the Year Ended October 31, 2007
A		14.57		—			—		2.14			2.14			—			(1.91	)		—		(1.91	)		0.23			14.80		16.72	(h)		311,227		1.39			1.39			1.39			—			46
B		13.93		(0.11	)		—		2.04			1.93			—			(1.91	)		—		(1.91	)		0.02			13.95		15.86	(h)		60,957		2.23			2.15			2.15			(0.75	)		—
C		13.93		(0.10	)		—		2.04			1.94			—			(1.91	)		—		(1.91	)		0.03			13.96		15.94	(h)		63,292		2.10			2.10			2.10			(0.70	)		—
Y		15.00		0.14			0.02		2.14			2.30			—			(1.91	)		—		(1.91	)		0.39			15.39		17.38	(h)		1,961		0.89			0.89			0.89			0.70			—
For the Year Ended October 31, 2006
A		13.29		0.01			—		2.59			2.60			—			(1.32	)		—		(1.32	)		1.28			14.57		21.37			305,002		1.45			1.40			1.40			0.06			40
B		12.85		(0.10	)		—		2.50			2.40			—			(1.32	)		—		(1.32	)		1.08			13.93		20.46			62,580		2.28			2.15			2.15			(0.69	)		—
C		12.85		(0.10	)		—		2.50			2.40			—			(1.32	)		—		(1.32	)		1.08			13.93		20.45			63,302		2.16			2.15			2.15			(0.69	)		—
Y		13.59		0.08			—		2.65			2.73			—			(1.32	)		—		(1.32	)		1.41			15.00		21.90			31,100		0.94			0.94			0.94			0.48			—
For the Year Ended October 31, 2005
A		12.89		(0.04	)		—		1.41			1.37			—			(0.97	)		—		(0.97	)		0.40			13.29		11.31			280,662		1.49			1.40			1.40			(0.31	)		49
B		12.59		(0.14	)		—		1.37			1.23			—			(0.97	)		—		(0.97	)		0.26			12.85		10.40			59,350		2.33			2.15			2.15			(1.06	)		—
C		12.59		(0.15	)		—		1.38			1.23			—			(0.97	)		—		(0.97	)		0.26			12.85		10.40			61,194		2.19			2.15			2.15			(1.06	)		—
Y		13.11		0.01			—		1.44			1.45			—			(0.97	)		—		(0.97	)		0.48			13.59		11.76			39,965		0.96			0.96			0.96			0.13			—
For the Year Ended October 31, 2004
A		11.32		(0.04	)		—		1.61			1.57			—			—			—		—			1.57			12.89		13.87			280,173		1.56			1.45			1.45			(0.03	)		46
B		11.12		(0.13	)		—		1.60			1.47			—			—			—		—			1.47			12.59		13.22			60,558		2.36			2.15			2.15			(1.04	)		—
C		11.13		(0.13	)		—		1.59			1.46			—			—			—		—			1.46			12.59		13.12			67,132		2.20			2.15			2.15			(1.04	)		—
Y		11.46		(0.01	)		—		1.66			1.65			—			—			—		—			1.65			13.11		14.40			2,474		0.90			0.90			0.90			(0.12	)		—

(a)	Information presented relates to a share outstanding throughout the indicated period.
(b)	Assumes initial investment at net asset value at the beginning of each period, reinvestment of all distributions, the complete redemption of the investment at net asset value at the end of each period and no sales charge. Total return would be reduced if sales charges were taken into account.
(c)	Ratios do not include fees paid indirectly (See Expenses in the accompanying Notes to Financial Statements).
(d)	Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between the classes of shares issued.
(e)	Per share amounts have been calculated using average shares outstanding method.
(f)	Not annualized.
(g)	Annualized.
(h)	Total return without the inclusion of the Payments from (to) Affiliate, as noted on the Statement of Operations, can be found in Expenses in the accompanying Notes to Financial Statements.

20

The Hartford MidCap Value Fund

Directors and Officers (Unaudited)

The Board of Directors appoints officers who are responsible for the day-to-day operations of the Fund and who execute policies formulated by the Directors. Each director serves until his or her death, resignation, or retirement or until the next annual meeting of shareholders is held or until his or her successor is elected and qualifies.

Directors and officers who are employed by or who have a financial interest in The Hartford are considered “interested” persons of the Fund pursuant to the Investment Company Act of 1940, as amended. Each officer and three of the Fund’s directors, as noted in the chart below, are “interested” persons of the Fund. Each director serves as a director for The Hartford Mutual Funds, Inc., The Hartford Mutual Funds II, Inc., The Hartford Income Shares Fund, Inc., Hartford Series Fund, Inc., and Hartford HLS Series Fund II, Inc., which collectively consist of 100 funds. Correspondence may be sent to directors and officers c/o Hartford Mutual Funds, P.O. Box 2999, Hartford, Connecticut 06104-2999, except that correspondence to Ms. Fagely may be sent to 500 Bielenberg Drive, Woodbury, Minnesota 55125.

The table below sets forth, for each director and officer, his or her name, year of birth, current position with the Fund and date first elected or appointed to The Hartford Mutual Funds, Inc. (“MF”) and The Hartford Mutual Funds II, Inc. (“MF2”), principal occupation, and, for directors, other directorships held. The Fund’s statement of additional information contains further information on the directors and is available free of charge by calling 1-888-843-7824 or writing to Hartford Mutual Funds, P.O. Box 64387, St. Paul, MN 55164-0387.

Information on the aggregate remuneration paid to the directors of the Fund can be found in the Statement of Operations herein. The Fund pays a portion of the Chief Compliance Officer’s compensation, but does not pay salaries or compensation to any of its officers or directors who are employed by The Hartford.

Non-Interested Directors

Lynn S. Birdsong (1946) Director since 2003, Co-Chairman of the Investment Committee

Mr. Birdsong is a private investor. Since 1981, Mr. Birdsong has been a partner in Birdsong Company, an advertising specialty firm. Since 2003, Mr. Birdsong has been an independent director of The Japan Fund. From 2003 to March 2005, Mr. Birdsong was an independent director of the Atlantic Whitehall Funds. From 1979 to 2002, Mr. Birdsong was a managing director of Zurich Scudder Investments, an investment management firm. During his employment with Scudder, Mr. Birdsong was an interested director of The Japan Fund.

Robert M. Gavin, Jr. (1940) Director since 2002 (MF) and 1986 (MF2), Chairman of the Board since 2004

Dr. Gavin is an educational consultant. Prior to September 1, 2001, he was President of Cranbrook Education Community and prior to July 1996, he was President of Macalester College, St. Paul, Minnesota.

Duane E. Hill (1945) Director since 2001 (MF) and 2002 (MF2), Chairman of the Nominating Committee

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

Sandra S. Jaffee (1941) Director since 2005

Ms. Jaffee is Chairman and Chief Executive Officer of Fortent (formerly Searchspace Group), a leading provider of compliance/regulatory technology to financial institutions. Ms. Jaffee served as an Entrepreneur in Residence with Warburg Pincus, a private equity firm, from August 2004 to August 2005. From September 1995 to July 2004, Ms. Jaffee served as Executive Vice President at Citigroup, where she was President and Chief Executive Officer of Citibank’s Global Securities Services (1995-2003).

William P. Johnston (1944) Director since 2005, Chairman of the Compliance Committee

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

21

The Hartford MidCap Value Fund

Directors and Officers (Unaudited) – (continued)

Phillip O. Peterson (1944) Director since 2002 (MF) and 2000 (MF2), Chairman of the Audit Committee

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

Lemma W. Senbet (1946) Director since 2005

Dr. Senbet is the William E. Mayer Chair Professor of Finance at the University of Maryland, Robert H. Smith School of Business. He was chair of the Finance Department during 1998-2006. Previously he was an endowed professor of finance at the University of Wisconsin-Madison. Also, he was director of the Fortis Funds from March 2000-July 2002. Dr. Senbet served the finance profession in various capacities, including as director of the American Finance Association and President of the Western Finance Association. In 2006, Dr. Senbet was inducted Fellow of Financial Management Association International for his career-long distinguished scholarship and professional service.

Interested Directors and Officers

Thomas M. Marra* (1958) Director since 2002

Mr. Marra has served as President and Chief Operating Officer of The Hartford Financial Services Group, Inc. (“The Hartford”) since 2007. Mr. Marra currently serves as Director of Hartford Life, Inc. (“HL, Inc.”). Mr. Marra served as Chief Operating Officer of Hartford Life Insurance Company, Inc. (“Hartford Life”) (2000-2008), as President of Hartford Life (2002-2008) and as Director of Hartford Life’s Investment Products Division from 1998 to 2000.

* On February 24, 2009, The Hartford and Mr. Marra determined to enter into a mutually agreed separation whereby Mr. Marra will retire, and his role as an executive officer and employee of The Hartford will terminate, effective July 3, 2009. Mr. Marra will resign his position as a Director of the Fund effective June 25, 2009.

Lowndes A. Smith (1939) Director since 2002, Co-Chairman of the Investment Committee

Mr. Smith served as Vice Chairman of The Hartford from February 1997 to January 2002, as President and Chief Executive Officer of Hartford Life, Inc. from February 1997 to January 2002, and as President and Chief Operating Officer of The Hartford Life Insurance Companies from January 1989 to January 2002. Mr. Smith serves as a Director of White Mountains Insurance Group, Ltd., One Beacon Insurance, Symetra Financial and as a Managing Director of Whittington Gray Associates.

John C. Walters* (1962) Director since 2008

Mr. Walters currently serves as Chief Executive Officer, President and Director of HL, Inc. Mr. Walters previously served as President of the U.S. Wealth Management Division of Hartford Life, Inc., as Co-Chief Operating Officer of Hartford Life Insurance Company (2007-2008) and as Executive Vice President and Director of its Investment Products Division (2000-2008). Mr. Walters also serves as Chairman of the Board, Chief Executive Officer, President and Director of Hartford Life Insurance Company and as Executive Vice President of The Hartford. In addition, Mr. Walters is Manager of HL Investment Advisors, LLC (“HL Advisors”).

* Mr. Walters previously served as President and Chief Executive Officer of the Fund (2007 – 2009).

Other Officers

Robert M. Arena, Jr. (1968) President and Chief Executive Officer since 2009 (served as Vice President of the Fund (2006 – 2009)) Mr. Arena serves as Executive Vice President of Hartford Life Insurance Company, (“Hartford Life”). Additionally, Mr. Arena is Director and Senior Vice President of Hartford Administrative Services Company, (“HASCO”), Manager, Chief Executive Officer and President of Hartford Investment Financial Services, LLC (“HIFSCO”) and HL Advisors. Prior to joining The Hartford in 2004, he was Senior Vice President in charge of Product Management for American Skandia/Prudential in the individual annuities division. Mr. Arena joined American Skandia in 1996.

Tamara L. Fagely (1958) Vice President, Treasurer and Controller since 2002 (MF) 1993 (MF2)

Ms. Fagely has been a Vice President of HASCO since 1998 and Chief Financial Officer since 2006. Currently Ms. Fagely is a Vice President of Hartford Life. She served as Assistant Vice President of Hartford Life from December 2001 through March 2005. In addition, Ms. Fagely is Controller and Chief Financial Officer of HIFSCO.

Brian Ferrell (1962) AML Compliance Officer since 2008

Mr. Ferrell has served as Assistant Vice President and AML Compliance Officer for The Hartford since 2006 and as AML Compliance Officer for HASCO and Hartford Investor Services Company, LLC (“HISC”) since 2008. Prior to joining The Hartford in 2006, Mr. Ferrell held various positions at the U.S. Department of the Treasury, (the “Treasury”), from 2001 to 2006 where he served as Chief Counsel for the Treasury’s Financial Crimes Enforcement Network, (“FinCEN”) from 2005 – 2006.

22

Thomas D. Jones, III (1965) Vice President and Chief Compliance Officer since 2006

Mr. Jones serves as Chief Compliance Officer for the Hartford Mutual Funds and Vice President and Director of Securities Compliance for The Hartford. He is also Vice President of HIFSCO, HL Advisors, and Hartford Life Insurance Company. Mr. Jones joined The Hartford in 2006 from SEI Investments, where he served as Chief Compliance Officer for its mutual funds and investment advisers. Prior to joining SEI, Mr. Jones was First Vice President and Compliance Director for Merrill Lynch Investment Managers (Americas) (“MLIM”), where he worked from 1992-2004. At MLIM, Mr. Jones was responsible for the compliance oversight of various investment products, including mutual funds, wrap accounts, institutional accounts and alternative investments.

Edward P. Macdonald (1967) Vice President, Secretary and Chief Legal Officer since 2005

Mr. Macdonald serves as Assistant General Counsel and Assistant Vice President of The Hartford and Chief Legal Officer and Vice President of HIFSCO. He also serves as Vice President and Secretary of HASCO, Assistant Vice President of Hartford Life, and Chief Legal Officer, Secretary and Vice President of HL Advisors. Prior to joining The Hartford in 2005, Mr. Macdonald was Chief Counsel, Investment Management for Prudential Financial (formerly American Skandia Investment Services, Inc.). He joined Prudential in April 1999.

Vernon J. Meyer (1964) Vice President since 2006

Mr. Meyer serves as Senior Vice President of Hartford Life and as Director of its Investment Advisory Group in the Individual Markets Group segment. He also serves as Senior Vice President of HIFSCO and HL Advisors. Prior to joining The Hartford in 2004, Mr. Meyer was with MassMutual which he joined in 1987.

D. Keith Sloane (1960) Vice President since 2009

Mr. Sloane is a Senior Vice President of Hartford Life where he serves as Director of mutual fund product management for The Hartford’s mutual funds and 529 college savings businesses. Additionally, Mr. Sloane currently serves as Senior Vice President of HIFSCO, HL Advisors, and HASCO. Prior to joining The Hartford in 2007, Mr. Sloane was Director of product marketing and led the mutual fund business for Wachovia Securities (“Wachovia”) in their investment products group. Mr. Sloane joined Wachovia in 1995.

Jane Wolak (1961) Vice President since 2009

Ms. Wolak currently serves as Vice President of Hartford Life. Ms. Wolak joined Hartford Life as Vice President, Retail Product Services in May 2007. She is also Vice President of HASCO. Previously, Ms. Wolak was with Sun Life Financial where she held the position of Vice President, Service Center Operations from 2001 – 2007.

HOW TO OBTAIN A COPY OF THE FUND’S PROXY VOTING POLICIES AND VOTING RECORDS

A description of the policies and procedures that the Fund uses to determine how to vote proxies relating to portfolio securities and a record of how the Fund voted any proxies for the twelve-month period ended June 30, 2008 is available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov.

QUARTERLY PORTFOLIO HOLDINGS INFORMATION

The Fund files a complete schedule of portfolio holdings with the Commission for the first and third quarters of each fiscal year on Form N-Q. The Fund’s Forms are available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov. The Form N-Q may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330.

23

The Hartford MidCap Value Fund

Expense Example (Unaudited)

Your Fund’s Expenses

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments and contingent deferred sales charges (CDSC) (2) ongoing costs including management fees; distribution fees; and other fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the period of October 31, 2008 through April 30, 2009.

Actual Expenses

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

Hypothetical Example for Comparison Purposes

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

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads) and CDSC. Therefore, the second line 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 are equal to the Fund’s annualized expense ratios multiplied by average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

	Actual return						Hypothetical (5% return before expenses)
					Expenses paid						Expenses paid					Days in
					during the period						during the period					the		Days
	Beginning		Ending Account		October 31, 2008		Beginning		Ending Account		October 31,		Annualized			current		in the
	Account Value		Value		through		Account Value		Value		2008 through		expense			1/2		full
	October 31, 2008		April 30, 2009		April 30, 2009		October 31, 2008		April 30, 2009		April 30, 2009		ratio			year		year
Class A	$	1,000.00	$	1,060.39	$	5.92	$	1,000.00	$	1,019.04	$	5.80		1.16	%		181		365
Class B	$	1,000.00	$	1,058.04	$	8.67	$	1,000.00	$	1,016.36	$	8.49		1.70			181		365
Class C	$	1,000.00	$	1,056.38	$	10.09	$	1,000.00	$	1,014.97	$	9.89		1.98			181		365
Class Y	$	1,000.00	$	1,062.66	$	4.80	$	1,000.00	$	1,020.13	$	4.70		0.94			181		365

24

The Hartford Money Market Fund

Table of Contents

Financial Statements
Schedule of Investments at April 30, 2009 (Unaudited)	2
Statement of Assets and Liabilities at April 30, 2009 (Unaudited)	5
Statement of Operations for the Six Month Period Ended April 30, 2009 (Unaudited)	6
Statement of Changes in Net Assets for the Six Month Period Ended April 30, 2009 (Unaudited) and the Year Ended October 31, 2008	7
Notes to Financial Statements (Unaudited)	8
Financial Highlights (Unaudited)	18
Directors and Officers (Unaudited)	19
How to Obtain a Copy of the Fund’s Proxy Voting Policies and Proxy Voting Records (Unaudited)	21
Quarterly Portfolio Holdings Information (Unaudited)	21
Expense Example (Unaudited)	22

The Hartford Money Market Fund

Schedule of Investments

April 30, 2009 (Unaudited)

(000’s Omitted)

Shares or Principal Amount			Market Value ╪
CERTIFICATES OF DEPOSIT- 2.7%
		Finance - 2.7%
		Bank of America Corp.
$	5,000	0.32%, 06/30/2009	$	5,000
	7,000	0.42%, 05/06/2009		7,000
		BNP Paribas Finance
	4,500	0.71% 07/13/2009		4,500
	6,000	0.85% 06/17/2009		6,000
		Toronto-Dominion Holdings
	5,500	0.50%, 05/27/2009		5,500
				28,000
		Total certificates of deposit (cost $28,000)	$	28,000
COMMERCIAL PAPER - 28.3%
		Basic Materials - 1.9%
		Export Development Canada
$	5,000	0.49%, 06/25/2009	$	4,996
	5,000	1.12%, 05/07/2009		4,999
		Praxair, Inc.
	3,200	0.15%, 05/20/2009		3,200
	3,032	0.20%, 05/19/2009		3,032
	3,500	0.35%, 07/16/2009		3,497
				19,724
		Consumer Staples - 2.8%
		Coca Cola Co.
	5,250	0.22%, 06/02/2009		5,249
	5,500	0.35%, 05/05/2009		5,500
		Colgate-Palmolive Co.
	6,750	0.14%, 05/29/2009 ■		6,749
		Procter & Gamble
	3,750	0.18%, 05/08/2009 ■		3,750
	7,000	0.38%, 06/12/2009 ■		6,997
				28,245
		Energy - 0.6%
		ConocoPhillips
	6,400	0.57%, 05/04/2009 ■		6,400
		Finance - 13.1%
		Citigroup Funding, Inc.
	11,000	0.40%, 05/12/2009		10,999
	11,000	0.45%, 06/15/2009		10,994
		European Investment Bank
	7,500	0.26%, 06/23/2009		7,497
	7,000	0.35%, 05/08/2009		7,000
	5,500	0.36%, 05/11/2009		5,499
		General Electric Capital Corp.
	6,750	0.23%, 07/30/2009		6,746
	11,000	0.30%, 05/26/2009		10,998
		JP Morgan Chase Funding, Inc.
	5,500	0.25%, 06/05/2009		5,499
	5,000	0.45%, 05/15/2009		4,999
		Kreditanstalt fuer Wiederaufbau
	3,500	0.33%, 08/12/2009 ■		3,497
	12,250	0.41%, 05/04/2009 - 06/30/2009 ■		12,247
	4,500	0.43%, 05/22/2009 ■		4,499
	5,750	0.45%, 06/19/2009 ■		5,746
		Queensland Treasury Corp.
	8,750	0.56%, 05/04/2009		8,750
	6,250	0.58%, 06/17/2009		6,245
	6,250	0.62%. 07/20/2009		6,241
		Rabobank USA
	3,750	0.64%, 07/06/2009		3,746
	4,750	0.69%, 05/28/2009		4,747
	2,000	0.74%, 05/19/2009		1,999
		Royal Bank of Canada
	5,750	0.42%, 05/18/2009		5,749
				133,697
		Foreign Governments - 7.4%
		British Columbia (Province of)
	4,000	0.29%, 08/20/2009		3,996
	4,000	0.40%, 06/10/2009		3,998
	3,750	0.42%, 07/14/2009		3,747
		British Columbia (Province Of)
	8,700	1.50%, 05/26/2009 - 05/27/2009		8,693
		Canada (Government of)
	4,750	0.29%, 06/05/2009		4,749
	6,000	0.38%, 05/05/2009		6,000
	6,250	0.45%, 06/10/2009		6,247
	5,750	0.58%, 08/07/2009		5,741
		Ontario (Province of)
	10,060	0.38%, 05/05/2009 - 05/22/2009		10,059
		Quebec (Province of)
	4,000	0.24%, 05/19/2009 ■		3,999
	8,750	0.35%, 05/01/2009		8,750
	3,250	0.45%, 06/22/2009 ■		3,248
	5,250	0.45%, 07/20/2009		5,245
				74,472
		Health Care - 0.5%
		Abbott Laboratories
	5,250	0.18%, 06/29/2009 ■		5,248
		Technology - 1.0%
		Microsoft Corp.
	6,400	0.23%, 07/07/2009		6,397
	3,250	0.30%, 05/14/2009 ■		3,250
				9,647
		Utilities - 1.0%
		Florida Power And Light Co.
	10,250	0.15%, 05/13/2009 - 05/15/2009		10,249
		Total commercial paper (cost $287,682)	$	287,682
CORPORATE NOTES - 6.9%
		Finance - 6.9%
		American Honda Finance Corp.
$	4,250	1.46%, 09/18/2009 ■ Δ	$	4,250
		Australia & New Zealand Banking Group Ltd.
	3,750	1.67%, 10/02/2009 ■ Δ Ω		3,750
		Bank of Nova Scotia
	4,750	1.42%, 08/10/2009 ■ Δ		4,750
		Caterpillar Financial Services Corp.
	6,000	1.24%, 05/15/2009 Δ		6,000
		General Electric Capital Corp.
	2,600	0.48%, 06/24/2009 Δ Ω		2,600
		International Bank for Reconstruction & Development
	21,750	0.35%, 06/22/2009 ○		21,739

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

2

Shares or Principal Amount			Market Value ╪
CORPORATE NOTES - 6.9% - (continued)
		Finance - 6.9% - (continued)
		John Deere Capital Corp.
$	3,877	1.30%, 09/01/2009 Δ	$	3,876
		Royal Bank of Canada
	3,750	0.85%, 10/15/2009 ■ Δ		3,750
		Royal Bank of Scotland Group plc
	4,250	1.72%, 10/09/2009 ■ Δ Ω		4,250
		Svenska Handelsbanken Ab
	3,600	1.40%, 05/06/2009 ■ Δ Ω		3,600
		Wachovia Bank NA
	6,000	1.59%, 08/04/2009 Δ Ω		6,000
		Wells Fargo & Co.
	3,000	0.60%, 06/18/2009 Δ		3,000
				67,565
		Total corporate notes (cost $67,565)	$	67,565
REPURCHASE AGREEMENTS - - 1.2%
		BNP Paribas Securities Corp. Repurchase Agreement (maturing on 05/01/2009 in the amount of $9,097, collateralized by U.S. Treasury Bond 5.38%, 2031, value of $9,268)
$	9,097	0.15% dated 04/30/2009	$	9,097
		UBS Securities, Inc. Repurchase Agreement (maturing on 05/01/2009 in the amount of $2,544, collateralized by U.S. Treasury Bond 7.50%, 2024, value of $2,602)
	2,544	0.13% dated 04/30/2009		2,544
		Total repurchase agreements (cost $11,641)	$	11,641
TIME DEPOSITS - 6.4%
	32,486	JP Morgan U.S. Government Money Market Fund	$	32,486
	—	State Street Bank U.S. Government Money Market Fund		—
	32,515	Wells Fargo Advantage Government Money Market Fund		32,515
		Total time deposits (cost $65,001)	$	65,001
U.S. GOVERNMENT AGENCIES - 18.8%
		Federal Home Loan Bank - 5.0%
$	4,500	0.22%, 07/10/2009	$	4,498
	8,230	0.28%, 07/22/2009		8,225
	6,000	0.32%, 06/09/2009		5,998
	6,750	0.33%, 06/18/2009		6,747
	7,250	0.34%, 10/21/2009 ○		7,238
	9,577	0.36%, 05/20/2009 - 06/29/2009		9,574
	4,500	0.39%, 05/11/2009		4,499
	4,100	1.04%, 05/20/2009 Δ		4,100
				50,879
		Federal Home Loan Mortgage Corp. - 7.1%
	4,000	0.24%, 07/06/2009 ○		3,998
	7,040	0.26%, 09/21/2009		7,033
	14,750	0.27%, 06/15/2009 - 07/29/2009		14,744
	8,000	0.28%, 08/24/2009		7,993
	6,750	0.34%, 10/13/2009		6,740
	3,500	0.34%, 10/26/2009 ○		3,494
	13,750	0.35%, 05/29/2009 - 08/03/2009		13,741
	9,000	0.39%, 05/11/2009		8,999
	4,500	0.43%, 06/01/2009		4,498
				71,240
		Federal National Mortgage Association - 6.7%
	7,000	0.22%, 05/28/2009		6,999
	4,500	0.23%, 07/06/2009 ○		4,498
	6,195	0.26%, 07/01/2009		6,192
	18,500	0.33%, 06/16/2009 - 07/27/2009		18,489
	8,250	0.34%, 10/21/2009		8,237
	2,855	0.36%, 08/31/2009 ○		2,851
	3,750	0.37%, 05/11/2009 ○		3,750
	13,000	0.39%, 05/19/2009 - 05/27/2009 ○		12,997
	4,500	0.44%, 06/08/2009		4,498
				68,511
		Total U.S. government agencies (cost $190,630)	$	190,630
U.S. TREASURY BILLS - 36.0%
$	31,000	0.14%, 07/23/2009 ○	$	30,991
	88,500	0.18%, 05/28/2009 - 06/04/2009 ○		88,483
	55,000	0.23%, 06/25/2009 - 12/29/2009 ○		54,948
	33,000	0.24%, 06/11/2009 ○		32,991
	30,000	0.26%, 10/15/2009 ○		29,964
	37,000	0.27%, 05/07/2009 ○		36,998
	30,000	0.30%, 05/21/2009 ○		29,995
	33,000	0.31%, 07/02/2009 ○		32,983
	27,000	0.35%, 05/14/2009 ○		26,997
				364,350
		Total U.S. treasury bills (cost $364,350)	$	364,350
CAPITAL SUPPORT AGREEMENT - 0.0%
	—	Hartford Life, Inc. Capital Support Agreement Ω		—

Total investments (cost $1,014,869) ▲	100.3	%	$	1,014,869
Other assets and liabilities	(0.3	)%		(3,354	)
Total net assets	100.0	%	$	1,011,515

Note: Percentage of investments as shown is the ratio of the total market value to total net assets. Market value of investments in foreign securities represents 14.83% of total net assets at April 30, 2009.

▲ Also represents cost for tax purposes.

Δ Variable rate securities; the rate reported is the coupon rate in effect at April 30, 2009.

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

3

The Hartford Money Market Fund
Schedule of Investments — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

■ Securities issued within terms of a private placement memorandum, exempt from registration under Rule 144A under the Securities Act of 1933, as amended, and may be sold only to qualified institutional buyers. Pursuant to guidelines adopted by the Board of Directors, these issues are determined to be liquid. The aggregate value of these securities at April 30, 2009, was $89,980, which represents 8.90% of total net assets.

○ The interest rate disclosed for these securities represents the effective yield on the date of the acquisition.

Ω The Fund has entered into a Capital Support Agreement with Hartford Life, Inc. which provides that Hartford Life, Inc. will contribute capital to the Fund, up to a specified maximum amount, in the event that the Fund realizes a loss on any of these securities and such realized loss causes the Fund’s net asset value as calculated using fair values to drop below $0.9950. These securities are valued at amortized cost, which approximates fair value.

╪ See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of securities.

     FAS 157 Disclosure of Investment Valuation Hierarchy Levels

Assets:
Investment in securities — Level 1	$	65,001
Investment in securities — Level 2		949,868
Total	$	1,014,869

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

4

The Hartford Money Market Fund

Statement of Assets and Liabilities

April 30, 2009 (Unaudited)

(000’s Omitted)

Assets:
Investments in securities, at fair value (cost $1,014,869)	$	1,014,869
Receivables:
Fund shares sold		1,309
Dividends and interest		111
Other assets		445
Total assets		1,016,734
Liabilities:
Payables:
Fund shares redeemed		4,899
Investment management fees		75
Distribution fees		66
Accrued expenses		179
Total liabilities		5,219
Net assets	$	1,011,515
Summary of Net Assets:
Capital stock and paid-in-capital		1,012,997
Accumulated undistributed net investment income		267
Accumulated net realized loss on investments		(1,749	)
Unrealized appreciation of investments		—
Net assets	$	1,011,515
Shares authorized		4,400,000
Par value	$	0.001
Class A: Net asset value per share/Maximum offering price per share	$	1.00/$1.00
Shares outstanding		481,479
Net assets	$	480,583
Class B: Net asset value per share	$	1.00
Shares outstanding		74,189
Net assets	$	74,097
Class C: Net asset value per share	$	1.00
Shares outstanding		122,886
Net assets	$	122,659
Class R3: Net asset value per share	$	1.00
Shares outstanding		1,020
Net assets	$	1,019
Class R4: Net asset value per share	$	1.00
Shares outstanding		321,047
Net assets	$	320,804
Class R5: Net asset value per share	$	1.00
Shares outstanding		10,775
Net assets	$	10,757
Class Y: Net asset value per share	$	1.00
Shares outstanding		1,602
Net assets	$	1,596

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

5

The Hartford Money Market Fund

Statement of Operations

For the Six Month Period Ended April 30, 2009 (Unaudited)
(000’s Omitted)

Investment Income:
Interest	$	3,097
Total investment income		3,097
Expenses:
Investment management fees		2,103
Transfer agent fees		651
Distribution fees
Class A		384
Class B		228
Class C		440
Class R3		1
Class R4		148
Custodian fees		3
Accounting services		75
Registration and filing fees		101
Board of Directors’ fees		10
Audit fees		18
Other expenses		552
Total expenses (before waivers and fees paid indirectly)		4,714
Expense waivers		(1,632	)
Transfer agent fee waivers		(190	)
Custodian fee offset		(1	)
Total waivers and fees paid indirectly		(1,823	)
Total expenses, net		2,891
Net investment income		206
Net Realized Gain on Investments:
Net realized gain on investments in securities		102
Net Realized Gain on Investments		102
Net Gain on Investments		102
Net Increase in Net Assets Resulting from Operations	$	308

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

6

The Hartford Money Market Fund

Statement of Changes in Net Assets

(000’s Omitted)

	For the Six-Month
	Period Ended			For the
	April 30, 2009			Year Ended
	(Unaudited)			October 31, 2008
Operations:
Net investment income	$	206		$	12,312
Net realized gain (loss) on investments		102			(1,852	)
Net increase in net assets resulting from operations		308			10,460
Distributions to Shareholders:
From net investment income
Class A		(138	)		(8,540	)
Class B		(2	)		(536	)
Class C		(4	)		(1,498	)
Class R3		—			(1	)
Class R4		(52	)		(1,267	)
Class R5		(9	)		(119	)
Class Y		(1	)		(84	)
Total distributions		(206	)		(12,045	)
Capital Share Transactions:
Class A		(6,070	)		172,677
Class B		7,508			37,462
Class C		(17,532	)		80,843
Class R3		490			520
Class R4		172,321			131,487
Class R5		1,929			7,617
Class Y		1			(1,106	)
Net increase from capital share transactions		158,647			429,500
Net increase in net assets		158,749			427,915
Net Assets:
Beginning of period		852,766			424,851
End of period	$	1,011,515		$	852,766
Accumulated undistributed net investment income	$	267		$	267

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

7

The Hartford Money Market Fund

Notes to Financial Statements

April 30, 2009 (Unaudited)

(000’s Omitted)

1. Organization:

The Hartford Mutual Funds, Inc. (“Company”) is an open-end management investment company comprised of fifty-two portfolios. Financial statements for The Hartford Money Market Fund (the “Fund”), a series of the Company, are included in this report.

The Company is organized under the laws of the State of Maryland and is registered with the Securities and Exchange Commission (“SEC”) under the Investment Company Act of 1940, as amended (“1940 Act”). The Fund is a diversified open-end management investment company.

Class A shares are sold without a front-end sales charge. Class B shares are sold with a contingent deferred sales charge which is assessed on the lesser of the per share net asset value (“NAV”) of the shares at the time of redemption or the original purchase price, and declines from up to 5.00% to zero depending on the period of time the shares are held. Class C shares are sold with a contingent deferred sales charge of up to 1.00% on shares redeemed within twelve months of purchase. Classes R3, R4, R5 shares, which are offered to employer-sponsored retirement plans, and Class Y shares, which are sold to certain eligible institutional investors, are sold without a sales charge. All classes of shares have identical voting, redemption, dividend, liquidation and other rights and the same terms and conditions, with the exceptions that each class may have different expenses, which may affect performance, and except that Class B shares automatically convert to Class A shares after 8 years.

Effective at the close of business on September 30, 2009 (the “Close Date”), no new or additional investments will be allowed in Class B shares of The Hartford Mutual Funds (including investments through any systematic investment plan). After the Close Date, existing shareholders of Class B shares may continue to hold their Class B shares, exchange their Class B shares for Class B shares of another Hartford Mutual Fund (as permitted by existing exchange privileges), and redeem their Class B shares as described in the Fund’s prospectus. Reinstatement privileges with respect to Class B shares will continue under the current policy. If you have chosen to reinvest capital gains and dividends, any such capital gains or dividends on Class B shares will continue to be reinvested in Class B shares of the Fund. For Class B shares outstanding as of the Close Date, all Class B share attributes, including the 12b-1 fee, contingent deferred sales charge schedule, and conversion to Class A shares remain unchanged.

2. Significant Accounting Policies:

The following is a summary of significant accounting policies of the Fund, which are in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”).

a) Security Transactions and Investment Income - Security transactions are recorded on the trade date (the date the order to buy or sell is executed). Security gains and losses are determined on the basis of identified cost.

Interest income, including amortization of premium and accretion of discounts, is accrued on a daily basis.

b)	Security Valuation - The Fund’s investments are valued using the amortized cost method, which approximates market value. Investments in open-end mutual funds are valued at the respective NAV of each open-end mutual fund on the valuation date.
c)	Joint Trading Account - Pursuant to an exemptive order issued by the SEC, the Fund may transfer uninvested cash balances into a joint trading account managed by Hartford Investment Management Company (“Hartford Investment Management”). These balances may be invested in one or more repurchase agreements and/or short-term money market instruments.

8

d) Repurchase Agreements - A repurchase agreement is an agreement by which the seller of a security agrees to repurchase the security sold at a mutually agreed upon time and price. At the time the Fund enters into a repurchase agreement, the value of the underlying collateral security(ies), including accrued interest, will be equal to or exceed the value of the repurchase agreement. Securities that serve to collateralize the repurchase agreement are held by the Fund’s custodian in book entry or physical form in the custodial account of the Fund or in a third party custodial account. Repurchase agreements are valued at cost plus accrued interest. The Fund, as shown on the Schedule of Investments, had outstanding repurchase agreements as of April 30, 2009.

e) Fund Share Valuation and Dividend Distributions to Shareholders — Orders for the Fund’s shares are executed in accordance with the investment instructions of the shareholders. The NAV of the Fund’s shares is determined as of the close of each business day of the Exchange. The NAV is determined separately for each class of the Fund by dividing the Fund’s net assets attributable to that class by the number of shares of the class outstanding. Orders for the purchase of the Fund’s shares prior to the close of the Exchange on any day on which the Exchange is open for business are priced at the NAV determined as of the close of the Exchange. Orders after the close of the Exchange, or on a day on which the Exchange and/or the Fund is not open for business, are priced at the next determined NAV.

The Fund intends to distribute substantially all of its net investment income and net realized capital gains to shareholders no less frequently than once a year. Normally, dividends from net investment income are declared daily and paid monthly. Dividends are paid on shares beginning on the business day after the day when the funds used to purchase the shares are collected by the transfer agent for the Fund. Unless shareholders specify otherwise, all dividends will be automatically reinvested in additional full or fractional shares of the Fund.

f) Illiquid and Restricted Securities - The Fund is permitted to invest up to 10% of its net assets in illiquid securities. “Illiquid Securities” are those that may not be sold or disposed of in the ordinary course of business within seven days, at approximately the price used to determine the Fund’s NAV. The Fund may not be able to sell illiquid securities or other investments when its sub-adviser considers it desirable to do so or may have to sell such securities or investments at a price that is lower than the price that could be obtained if the securities or investments were more liquid. A sale of illiquid securities or other investments may require more time and may result in higher dealer discounts and other selling expenses than does the sale of those that are liquid. Illiquid securities and investments also may be more difficult to value, due to the unavailability of reliable market quotations for such securities or investments, and investment in them may have an adverse impact on the Fund’s NAV. The Fund may also purchase certain restricted securities, commonly known as Rule 144A securities, that can be resold to institutions and which may be determined to be liquid pursuant to policies and guidelines established by the Fund’s Board of Directors. The Fund, as shown in the Schedule of Investments, had illiquid or restricted securities as of April 30, 2009.

g) Credit Risk — Credit risk depends largely on the perceived financial health of bond issuers. In general, the credit rating is inversely related to the credit risk of the issuer. Higher rated bonds generally are deemed to have less credit risk, while lower or unrated bonds are deemed to have higher risk of default. The share price, yield and total return of a Fund which holds securities with higher credit risk may fluctuate more than with less aggressive bond funds.

h) Use of Estimates — The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and the reported amounts of income and expenses during the period. Operating results in the future could vary from the amounts derived from management’s estimates.

i) Financial Accounting Standards Board Financial Accounting Standards No. 157 - Effective November 1, 2008, the Fund adopted Financial Accounting Standards Board (“FASB”) Statement of Financial Accounting Standards No. 157, “Fair Value Measurements” (“FAS 157”). This standard clarifies the definition of fair value for financial reporting, establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements. Fair value is defined under FAS 157 as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Under FAS 157, a fair value measurement should

9

The Hartford Money Market Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

reflect all of the assumptions that market participants would use in pricing the asset or liability, including assumptions about the risk inherent in a particular valuation technique, the effect of a restriction on the sale or use of an asset, and the risk of nonperformance.

Various inputs are used in determining the value of the Fund’s investment. These inputs are summarized, per FAS 157, into three broad hierarchy levels. This hierarchy is based on whether the valuation inputs are observable or unobservable. These levels are:

• Level 1 — Quoted prices in active markets for identical securities. Level 1 includes exchange-traded instruments such as domestic equities, some foreign equities, options, futures, mutual funds, ETF’s, and rights and warrants.

• Level 2 — Observable inputs other than Level 1 prices, such as quoted prices for similar securities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the security. Level 2 includes debt securities that are traded less frequently than exchange-traded instruments and that are valued using third party pricing services and foreign equities, whose value is determined using a multi-factor regression model with inputs that are observable in the market; and money market instruments, which are carried at amortized cost.

• Level 3 — Significant unobservable inputs that are supported by little or no market activity. Level 3 includes financial instruments whose values are determined using broker quotes and require significant management judgment or estimation. This category includes broker quoted securities, long dated OTC options and securities where trading has been halted or there are certain restrictions on trading. While these securities are priced using unobservable inputs, the valuation of these securities reflects the best available data and management believes the prices are a good representation of exit price.

	Individual securities within any of the above mentioned asset classes may be assigned a different hierarchical level than those presented above, as individual circumstances dictate.
	FAS 157 also requires that a roll forward reconciliation be shown for all Level 3 securities from the beginning of the reporting period to the end of the reporting period. Part of this reconciliation includes transfers in and/or out of Level 3. For purposes of this reconciliation, transfers in are shown at the end of period fair value and transfers out are shown at the beginning of period fair value. During the six-month period ended April 30, 2009, the Fund held no Level 3 securities.
	FASB Staff Position No. 157-4 - In April 2009, FASB released FASB Staff Position No. 157-4, “Determining Fair Value When the Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly” (“FSP FAS 157-4”). FSP FAS 157-4 provides additional guidance on determining whether a market for a financial asset is not active and a transaction is not distressed when measuring fair value under FAS 157. The FSP also requires additional disclosure detail on debt and equity securities by major investment categories. FSP FAS 157-4 is effective for interim and annual periods ending after June 15, 2009. At this time, management is evaluating the implications of FSP FAS 157-4 and does not believe it will impact valuation but will require additional disclosure. This additional disclosure has not yet been implemented.
j)	Financial Accounting Standards Board Financial Accounting Standards No. 161 - In March 2008, the FASB released Statement of Financial Accounting Standards No. 161, “Disclosures about Derivative Instruments and Hedging Activities” (“FAS 161”). FAS 161 requires companies to disclose information detailing the objectives and strategies for using derivative instruments, the level of derivative activity entered into by the company and any credit risk-related contingent features of the agreements. The application of FAS 161 is required for fiscal years and interim periods beginning after November 15, 2008. At this time, management is evaluating the implications of FAS 161 and has not yet implemented the new disclosure standard.
k)	Indemnifications: Under the Company’s organizational documents, the Company shall indemnify its officers and directors to the full extent required or permitted under Maryland General Corporation Law and the federal securities law. In addition, the Company, on behalf of the Fund, may enter into contracts that contain a variety of indemnifications. The

10

Company’s maximum exposure under these arrangements is unknown. However, the Company has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote.

3. Federal Income Taxes:

a)

Federal Income Taxes - For federal income tax purposes, the Fund intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code (“IRC”) by distributing substantially all of its taxable net investment income and net realized capital gains to its shareholders and otherwise complying with the requirements of regulated investment companies. The Fund has distributed substantially all of its income and capital gains in prior years and the Fund intends to distribute substantially all of its income and gains during the calendar year ending December 31, 2009. Accordingly, no provision for federal income or excise taxes has been made in the accompanying financial statements. Distributions from short-term capital gains are treated as ordinary income distributions for federal income tax purposes.

b)

The tax character of distributions paid by the Fund for the periods indicated is as follows (as adjusted for dividends payable):

	For the Year Ended		For the Year Ended
	October 31, 2008		October 31, 2007
Ordinary Income	$	12,123	$	13,462

As of October 31, 2008, the Fund’s components of distributable earnings (deficit) on a tax basis were as follows:

	Amount
Undistributed Ordinary Income	$	280
Accumulated Capital Losses*	$	(1,851	)
Total Accumulated Deficit	$	(1,571	)

* The Fund has capital loss carryforwards that are identified in the Capital Loss Carryforward note that follows.

c)

Reclassification of Capital Accounts - In accordance with American Institute of Certified Public Accountants (AICPA) Statement of Position 93-2, Determination, Disclosure, and Financial Statement Presentation of Income, Capital Gain, and Return of Capital Distributions by Investment Companies, the Fund has recorded reclassifications in its capital accounts. These reclassifications had no impact on the NAV of the Fund. The reclassifications are a result of permanent differences between GAAP and tax accounting for such items as net operating losses that reduce distribution requirements. Adjustments are made to reflect the impact these items have on current and future distributions to shareholders. Therefore, the source of the Fund’s distributions may be shown in the accompanying Statement of Changes in Net Assets as from net investment income, from net realized gains on investments or from capital depending on the type of book and tax differences that exist. As of October 31, 2008, the Fund recorded reclassifications to increase accumulated realized gain by $1 and decrease paid in capital by $1.

d)

Capital Loss Carryforward - At October 31, 2008 (tax-year-end), the Fund had capital loss carryforwards for U.S. federal income tax purposes of approximately:

Year	Amount
2016	$	1,851
Total	$	1,851

11

The Hartford Money Market Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

e) Financial Accounting Standards Board Interpretation No. 48 — On July 13, 2006, the FASB released FASB Interpretation No. 48 “Accounting for Uncertainty in Income Taxes” (“FIN 48”). FIN 48 provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. The Fund adopted FIN 48 for fiscal years beginning after December 15, 2006. Management has evaluated the implications of FIN 48 for all open tax years (tax years ended October 31, 2006 — 2008) and has determined there is no impact to the Fund’s financial statements.

4. Expenses:

a)

Investment Management Agreements — Hartford Investment Financial Services, LLC (“HIFSCO”) serves as investment manager to the Fund pursuant to an Investment Management Agreement with The Hartford Mutual Funds, Inc. As investment manager, HIFSCO has overall investment supervisory responsibility for the Fund. In addition, HIFSCO provides administrative personnel, services, equipment, facilities and office space for proper operation of the Fund. HIFSCO has contracted with Hartford Investment Management for the provision of day-to-day investment management services to the Fund in accordance with the Fund’s investment objective and policies. The Fund pays a fee to HIFSCO, a portion of which may be used to compensate Hartford Investment Management.

The schedule below reflects the rates of compensation paid to HIFSCO for investment management services rendered during the six-month period ended April 30, 2009; the rates are accrued daily and paid monthly:

Average Daily Net Assets	Annual Fee
On first $1 billion		0.45	%
On next $4 billion		0.40	%
On next $5 billion		0.38	%
Over $10 billion		0.37	%

b) Accounting Services Agreement — Pursuant to the Fund Accounting Agreement between Hartford Life Insurance Company (“HLIC”) and the Fund, HLIC provides accounting services to the Fund and receives monthly compensation on the Fund’s average net assets. The Fund’s accounting service fees are accrued daily and paid monthly.

Average Daily Net Assets	Annual Fee
On first $5 billion		0.016	%
On next $5 billion		0.014	%
Over $10 billion		0.012	%

c) Operating Expenses — Allocable expenses incurred by the Fund are allocated to classes within the Fund in proportion to the average daily net assets of the Fund and each class, except where allocation of certain expenses is more fairly made directly to the Fund or to specific classes within a Fund. During the six-month period ended April 30, 2009, HIFSCO has contractually limited the total operating expenses of this Fund, exclusive of taxes, interest, brokerage commissions, certain distribution expenses and extraordinary expenses as follows:

Class A	Class B			Class C			Class R3			Class R4			Class R5			Class Y
0.90%		1.65	%		1.65	%		1.15	%		0.85	%		0.65	%		0.65	%

d) Fees Paid Indirectly - The Fund’s custodian bank has agreed to reduce its fees when the Fund maintains cash on deposit in the non-interest-bearing custody account. For the six-month period ended April 30, 2009, this amount is included in the Statement of Operations.

12

The ratio of expenses to average net assets in the accompanying financial highlights excludes the reduction in expenses related to fees paid indirectly. Had the fees paid indirectly been included, the annualized expense ratio for the periods listed below would have been as follows:

	Annualized
	Six-Month
	Period			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended
	Ended April			October 31,			October 31,			October 31,			October 31,			October 31,
	30, 2009 §			2008			2007			2006			2005			2004
Class A Shares		0.62	%		0.90	%		0.95	%		0.95	%		0.95	%		1.00	%
Class B Shares		0.67			1.65			1.70			1.70			1.70			1.25
Class C Shares		0.68			1.59			1.69			1.70			1.70			1.27
Class R3 Shares		0.62			1.15			1.20	*
Class R4 Shares		0.56			0.85			0.90	†
Class R5 Shares		0.55			0.63			0.60	‡
Class Y Shares		0.50			0.52			0.55			0.55			0.55			0.55

§	Includes expenses not subject to cap
*	From December 22, 2006 (commencement of operations), through October 31, 2007
†	From December 22, 2006 (commencement of operations), through October 31, 2007
‡	From December 22, 2006 (commencement of operations), through October 31, 2007

e)	Distribution and Service Plan for Class A, B, C, R3 and R4 Shares - HIFSCO is the principal underwriter and distributor of the Fund. HIFSCO is engaged in distribution activities, which include marketing and distribution of shares through broker-dealers, financing distribution costs and maintaining financial books and records. For the six-month period ended April 30, 2009, HIFSCO received front-end load sales charges in an amount that rounds to zero and contingent deferred sales charges of $380 from the Fund.
	The Fund has adopted Distribution and Service Plans in accordance with Rule 12b-1 of the Investment Company Act of 1940, as amended, to compensate the distributor (HIFSCO) for activities intended to result in the sale and distribution of Classes A, B, C, R3 and R4 shares and for providing services for shareholders. The Rule 12b-1 plan applicable to Class A shares of the Funds provides for payment of a Rule 12b-1 fee of up to 0.35% of average daily net assets; however, the Board of Directors has currently authorized 12b-1 payments of only up to 0.25%. Some or all of the fee may be used for shareholder servicing expenses with the remainder used for distribution expenses. Some or the entire Rule 12b-1 fee for Class B shares may be remitted to broker-dealers for distribution and/or shareholder account services. Under the Class B Plan, the Fund pays the distributor 1.00% of the average daily net assets of Class B shares that are outstanding for 8 years or less, 0.25% of which is a fee for services provided to existing shareholders with the remainder used for distribution expenses. After eight years, Class B shares convert to Class A shares. Upon conversion to Class A shares, the Class A plan described above will apply to those shares. Under the Class C Plan, the Fund pays the distributor 1.00% of the average daily net assets of Class C shares outstanding, 0.25% of which is intended as a fee for services provided to existing shareholders with the remainder used for distribution expenses. For Class C shares, some or the entire fee may be remitted to broker-dealers for distribution and/or shareholder account services. Class R3 shares have a distribution fee of 0.50% and Class R4 shares have a distribution fee of 0.25%. For Classes R3 and R4 shares, some or the entire fee may be remitted to broker dealers for distribution and/or shareholder account services. The Fund’s 12b-1 fees are accrued daily and paid monthly.
	For the six-month period ended April 30, 2009, total sales commissions paid to affiliated brokers/dealers of The Hartford for distributing the Fund’s shares were $14. These commissions are in turn paid to sales representatives of the broker/dealers.
	At a meeting held on February 4, 2009, the Board of Directors approved the temporary reduction of payment of distribution and service fees under the Fund’s 12b-1 Plan of Distribution to zero for Classes A, B, C, R3 and R4 for a

13

The Hartford Money Market Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

	period of six months, effective March 1, 2009. The Fund’s actions will result in a corresponding temporary reduction of 12b-1 payments of amounts paid to financial intermediaries by the Fund’s distributor to zero for Classes A, B, C, R3 and R4 during this time period. The Board’s action can be changed at any time.
	The Hartford may be required to pay, out of its own resources, the equivalent of 12b-1 fees to financial intermediaries notwithstanding the reduction of 12b-1 fees. Since October 2008, the Fund’s distributor has made payments out of its own resources to financial intermediaries equal to the amount of 12b-1 fees that would have been paid notwithstanding waivers of 12b-1 fees.
f)	Other Related Party Transactions — Certain officers of the Fund are directors and/or officers of HIFSCO and/or The Hartford or its subsidiaries. For the six-month period ended April 30, 2009, a portion of the Fund’s chief compliance officer’s salary was paid by the Fund in the amount of $2. Hartford Administrative Services Company (“HASCO”), an indirect wholly owned subsidiary of The Hartford, provides transfer agent services to the Fund. HASCO was compensated $633 for providing such services. These fees are accrued daily and paid monthly.

5. Affiliate Holdings:

As of April 30, 2009, affiliates of The Hartford had ownership of shares in the Fund as follows:

	Shares
Class Y		1,602

6. Investment Transactions:

For the six-month period ended April 30, 2009, the cost of purchases and sales of securities for the Fund were $6,767,082 and $6,608,141, respectively.

14

7. Capital Share Transactions:

The following information is for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	For the Six-Month Period Ended April 30, 2009												For the Year Ended October 31, 2008
			Shares					Shares							Shares					Shares
			Issued for					Issued		Net Increase					Issued for					Issued		Net Increase
	Shares		Reinvested		Shares			from		(Decrease) of			Shares		Reinvested		Shares			from		(Decrease) of
	Sold		Dividends		Redeemed			Merger		Shares			Sold		Dividends		Redeemed			Merger		Shares
Class A
Shares		279,640		114		(285,824	)		—		(6,070	)		630,595		7,915		(465,833	)		—		172,677
Amount	$	279,640	$	114	$	(285,824	)	$	—	$	(6,070	)	$	630,595	$	7,915	$	(465,833	)	$	—	$	172,677
Class B
Shares		37,505		2		(29,999	)		—		7,508			76,206		496		(39,240	)		—		37,462
Amount	$	37,505	$	2	$	(29,999	)	$	—	$	7,508		$	76,206	$	496	$	(39,240	)	$	—	$	37,462
Class C
Shares		80,738		4		(98,274	)		—		(17,532	)		238,390		1,260		(158,807	)		—		80,843
Amount	$	80,738	$	4	$	(98,274	)	$	—	$	(17,532	)	$	238,390	$	1,260	$	(158,807	)	$	—	$	80,843
Class R3
Shares		1,136		—		(646	)		—		490			554		1		(35	)		—		520
Amount	$	1,136	$	—	$	(646	)	$	—	$	490		$	554	$	1	$	(35	)	$	—	$	520
Class R4
Shares		206,058		47		(33,784	)		—		172,321			140,651		1,288		(10,452	)		—		131,487
Amount	$	206,058	$	47	$	(33,784	)	$	—	$	172,321		$	140,651	$	1,288	$	(10,452	)	$	—	$	131,487
Class R5
Shares		21,080		9		(19,160	)		—		1,929			9,570		120		(2,073	)		—		7,617
Amount	$	21,080	$	9	$	(19,160	)	$	—	$	1,929		$	9,570	$	120	$	(2,073	)	$	—	$	7,617
Class Y
Shares		—		1		—			—		1			4,020		83		(5,209	)		—		(1,106	)
Amount	$	—	$	1	$	—		$	—	$	1		$	4,020	$	83	$	(5,209	)	$	—	$	(1,106	)

The following reflects the conversion of Class B Shares into Class A Shares (reflected as Class A Shares issued and Class B shares redeemed) for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	Shares		Dollars
For the Six-Month Period Ended April 30, 2009		2,235	$	2,235
For the Year Ended October 31, 2008		3,962	$	3,962

8.	Participation in the U.S. Department of Treasury Guarantee Program for Money Market Funds:
	The Board of Directors (“Board”) of The Hartford Mutual Funds, Inc. has approved the participation of Hartford Money Market Fund in the U.S. Treasury Department’s Temporary Guarantee Program (the “Program”) for money market funds.
	Subject to certain conditions and limitations, the Program provides that investors in the Fund will receive $1.00 for each Fund share held as of the close of business on September 19, 2008 in the event that the Fund closes at a NAV below $1.00 per share (a “guarantee event”). The Program only covers the amount an investor held in the Fund as of the close of business on September 19, 2008 or the amount an investor holds if and when a guarantee event occurs, whichever is less. Participation in the Program is expected to provide direct benefits to current shareholders that were shareholders as of September 19, 2008 and indirect benefits to all current shareholders by supporting the stability of the Fund’s asset level.
	Accordingly, any purchase of shares of the Fund for a new account after the close of business on September 19, 2008 and any increase in the number of shares of the Fund held in an account after the close of business on September 19, 2008 will not be covered by the Program. In the event that shares held as of the close of business on September 19, 2008 are sold prior to the date of a guarantee event, the shares covered by the guarantee will be the lesser of (i) the amounts held in the Fund as of the close of business on September 19, 2008 or (ii) the amounts held in the Fund on the date of a guarantee event.

15

The Hartford Money Market Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

The cost to participate in the Program will be borne by the Fund without regard to any fee waiver and/or any expense limitation or reimbursement currently in effect for the Fund and is, therefore, borne by all shareholders of the Fund whether or not their shares are covered by the Program. Currently, assets available to the Program to support all participating money market funds do not exceed $50 billion and the Secretary of the Treasury extended the Program up through the close of business on September 18, 2009.

On November 24, 2008, the U.S. Treasury Department extended the Program until April 30, 2009 and again on March 31, 2009 extended the Program until September 18, 2009. The Program still continues to cover only the amount an investor held in the Fund as of the close of business on September 19, 2008 or the amount an investor holds if and when a guarantee event occurs, whichever is less. The Board has approved the continued participation of the Fund in the Program. The cost to participate in the Program will continue to be borne by the Fund.

9. Capital Support Agreement:

The Money Market Fund has entered into a Capital Support Agreement, dated September 26, 2008, and amended October 8, 2008 (the “CSA”) with HIFSCO and its affiliate Hartford Life, Inc. (“Hartford Life”). Under the terms of the CSA, Hartford Life has agreed to provide support of up to a maximum aggregate amount of $6.4 million for the Money Market Fund’s holdings of certain securities specified in the CSA (the “Notes”). The Notes are identified in the Schedule of Investments.

The CSA provides that Hartford Life will pay a capital contribution to the Money Market Fund if a “Contribution Event” occurs prior to an event terminating the CSA. The contribution amount would be the lesser of: (1) the amount sufficient for the Money Market Fund to maintain its market-based calculation of net asset value (“NAV”) per share at $0.9950 (which rounds to an NAV of $1.00), after giving effect to the contribution and payments received by the Money Market Fund in respect of the Notes; (2) the amount of the loss on the Notes, which is the excess of the amortized cost of the Notes, less deduction of any commissions or similar transaction cost, and any amount received by the Money Market Fund in connection with the Contribution Event; and (3) the maximum contribution amount under the CSA, which is $6.4 million for any and all contributions under the CSA.

The CSA defines a “Contribution Event” as any of the following occurrences: (1) any sale of the Note for cash in an amount, after deduction of any commissions or similar transaction costs, less than the amortized cost value of the Note sold as of the date of the settlement; (2) the receipt of final payment on the Note in an amount less than the amortized cost value of the Note as of the date such payment is received; (3) the issuance of orders by a court having jurisdiction over the matter discharging the issuer from liability for the Note and providing for payments on that Note in an amount less than the amortized cost value of the Note as of the date such payment is received; or (4) the receipt of any security or other instruments in exchange for, or as replacement of, the Note as a result of an exchange offer, debt restructuring, reorganization or similar transaction pursuant to which the Note is exchanged for, or replaced with, new securities of the issuer or third party and such new securities are or become “Eligible Securities,” as defined under Rule 2a-7 under the 1940 Act, and have a value that is less than the amortized cost of the Note on the date that the Money Market Fund receives such new securities.

On February 24, 2009, after the receipt of verbal “no-action” assurance provided by the staff of the SEC, the parties to the CSA have entered into an amendment that permits the CSA to continue despite the fact that Hartford Life’s obligations, effective February 9, 2009, no longer qualify as “First Tier” securities, as defined under Rule 2a-7 under the 1940 Act. The amendment requires that Hartford Life establish an escrow account to support its potential future obligations under the CSA. The minimum balance of the escrow account is $125,000 (which was set equal to the aggregate unrealized loss on the Notes as of February 23, 2009), and the balance may periodically be adjusted based on the fair value of the Notes and the NAV of the Money Market Fund.

The CSA will terminate (unless the parties agree to an extension) on the earliest of the following dates: (1) September 26, 2009; (2) if and when all of the Notes are repaid in full; and (3) if and when Hartford Life has made capital contributions, in the aggregate, equal to the maximum aggregate amount of $6.4 million. Any extension would require approval of the SEC staff. In light of the terms of the CSA, the current and historical market value of the Notes and the net asset value of the Money Market Fund, it is possible that no capital contribution would be required even if the Money Market Fund were to

16

realize a loss with respect to the Notes. The CSA applies only with respect to the Notes and does not guarantee that the Money Market Fund will maintain a stable NAV under all conditions. Apart from the CSA, Hartford Life has not undertaken nor is it obligated to provide support with respect to the Money Market Fund’s NAV.

During the six-month period ended April 30, 2009, the Fund did not receive a capital contribution under the terms of the CSA and the Fund did not rely on the CSA to maintain a $1.00 NAV per share.

17

The Hartford Money Market Fund

Financial Highlights — (Unaudited)

	- Selected Per-Share Data - (a)																										- Ratios and Supplemental Data -
																													Ratio of			Ratio of			Ratio of
																												��	Expenses			Expenses			Expenses
																													to Average			to Average			to Average
																													Net Assets			Net Assets			Net Assets
					Net																								Before			After			After
					Realized																								Waivers			Waivers			Waivers
					and Un-																								and			and			and			Ratio of
					realized							Distrib-							Net		Net								Reimburse-			Reimburse-			Reimburse-			Net
			Net		Gain							utions							Increase		Asset					Net			ments and			ments and			ments and			Invest-			Port-
	Net Asset		Invest-		(Loss)				Dividends			from		Distri-					(Decrease)		Value					Assets at			Including			Including			Excluding			ment			folio
	Value at		ment		on		Total from		from Net			Realized		butions					in Net		at End					End of			Expenses			Expenses			Expenses			Income to			Turn-
	Beginning		Income		Invest-		Investment		Investment			Capital		from		Total Distri-			Asset		of		Total			Period			not Subject			not Subject			not Subject			Average			over
Class	of Period		(Loss)		ments		Operations		Income			Gains		Capital		butions			Value		Period		Return(b)			(000’s)			to Cap(c)			to Cap(c)			to Cap(c)			Net Assets			Rate(d)
For the Six-Month Period Ended April 30, 2009 (Unaudited)
A	$	1.00	$	0.0003	$	—	$	0.0003	$	(0.0003	)	$	—	$	—	$	(0.0003	)	$	—	$	1.00		0.03	%(e)	$	480,583			0.94	%(f)		0.62	%(f)		0.57	%(f)		0.06	%(f)		N/A
B		1.00		—		—		—		—			—		—		—			—		1.00		—	(e)		74,097			1.39	(f)		0.67	(f)		0.62	(f)		—	(f)		—
C		1.00		—		—		—		—			—		—		—			—		1.00		—	(e)		122,659			1.32	(f)		0.68	(f)		0.63	(f)		0.01	(f)		—
R3		1.00		0.0001		—		0.0001		(0.0001	)		—		—		(0.0001	)		—		1.00		0.01	(e)		1,019			1.11	(f)		0.62	(f)		0.59	(f)		0.02	(f)		—
R4		1.00		0.0003		—		0.0003		(0.0003	)		—		—		(0.0003	)		—		1.00		0.03	(e)		320,804			0.85	(f)		0.56	(f)		0.52	(f)		0.05	(f)		—
R5		1.00		0.0007		—		0.0007		(0.0007	)		—		—		(0.0007	)		—		1.00		0.07	(e)		10,757			0.67	(f)		0.55	(f)		0.49	(f)		0.16	(f)		—
Y		1.00		0.0008		—		0.0008		(0.0008	)		—		—		(0.0008	)		—		1.00		0.08	(e)		1,596			0.60	(f)		0.50	(f)		0.43	(f)		0.18	(f)		—
For the Year Ended October 31, 2008
A		1.00		0.02		—		0.02		(0.02	)		—		—		(0.02	)		—		1.00		2.31			486,596			0.99			0.90			0.90			2.23			N/A
B		1.00		0.02		—		0.02		(0.02	)		—		—		(0.02	)		—		1.00		1.54			66,581			1.71			1.65			1.65			1.40			—
C		1.00		0.02		—		0.02		(0.02	)		—		—		(0.02	)		—		1.00		1.60			140,174			1.60			1.60			1.60			1.49			—
R3		1.00		0.02		—		0.02		(0.02	)		—		—		(0.02	)		—		1.00		2.07			529			1.35			1.15			1.15			1.33			—
R4		1.00		0.02		—		0.02		(0.02	)		—		—		(0.02	)		—		1.00		2.37			148,465			0.94			0.85			0.85			1.91			—
R5		1.00		0.03		—		0.03		(0.03	)		—		—		(0.03	)		—		1.00		2.60			8,826			0.63			0.63			0.63			2.09			—
Y		1.00		0.03		—		0.03		(0.03	)		—		—		(0.03	)		—		1.00		2.69			1,595			0.52			0.52			0.52			2.77			—
For the Year Ended October 31, 2007
A		1.00		0.04		—		0.04		(0.04	)		—		—		(0.04	)		—		1.00		4.49			314,872			1.13			0.95			0.95			4.40			N/A
B		1.00		0.04		—		0.04		(0.04	)		—		—		(0.04	)		—		1.00		3.71			29,219			1.82			1.70			1.70			3.65			—
C		1.00		0.04		—		0.04		(0.04	)		—		—		(0.04	)		—		1.00		3.72			59,575			1.72			1.69			1.69			3.66			—
R3(g)		1.00		0.04		—		0.04		(0.04	)		—		—		(0.04	)		—		1.00		3.63	(e)		10			1.36	(f)		1.20	(f)		1.20	(f)		4.16	(f)		—
R4(h)		1.00		0.04		—		0.04		(0.04	)		—		—		(0.04	)		—		1.00		3.95	(e)		17,239			1.01	(f)		0.90	(f)		0.90	(f)		4.49	(f)		—
R5(i)		1.00		0.04		—		0.04		(0.04	)		—		—		(0.04	)		—		1.00		4.18	(e)		1,229			0.72	(f)		0.60	(f)		0.60	(f)		4.79	(f)		—
Y		1.00		0.05		—		0.05		(0.05	)		—		—		(0.05	)		—		1.00		4.90			2,707			0.58			0.55			0.55			4.77			—
For the Year Ended October 31, 2006
A		1.00		0.04		—		0.04		(0.04	)		—		—		(0.04	)		—		1.00		4.00			207,592			1.14			0.95			0.95			3.95			N/A
B		1.00		0.03		—		0.03		(0.03	)		—		—		(0.03	)		—		1.00		3.22			27,995			1.79			1.70			1.70			3.18			—
C		1.00		0.03		—		0.03		(0.03	)		—		—		(0.03	)		—		1.00		3.22			16,997			1.76			1.70			1.70			3.20			—
Y		1.00		0.04		—		0.04		(0.04	)		—		—		(0.04	)		—		1.00		4.34			13,628			0.61			0.55			0.55			4.29			—
For the Year Ended October 31, 2005
A		1.00		0.02		—		0.02		(0.02	)		—		—		(0.02	)		—		1.00		1.99			182,308			1.22			0.95			0.95			1.96			N/A
B		1.00		0.01		—		0.01		(0.01	)		—		—		(0.01	)		—		1.00		1.23			30,716			1.88			1.70			1.70			1.16			—
C		1.00		0.01		—		0.01		(0.01	)		—		—		(0.01	)		—		1.00		1.23			18,790			1.80			1.70			1.70			1.19			—
Y		1.00		0.02		—		0.02		(0.02	)		—		—		(0.02	)		—		1.00		2.40			16,114			0.61			0.55			0.55			2.47			—
For the Year Ended October 31, 2004
A		1.00		0.0030		—		0.0030		(0.0030	)		—		—		(0.0030	)		—		1.00		0.28			205,442			1.22			1.00			1.00			0.27			N/A
B		1.00		0.0001		—		0.0001		(0.0001	)		—		—		(0.0001	)		—		1.00		0.01			45,836			1.82			1.25			1.25			0.01			—
C		1.00		0.0001		—		0.0001		(0.0001	)		—		—		(0.0001	)		—		1.00		0.01			26,626			1.77			1.27			1.27			0.01			—
Y		1.00		0.0070		—		0.0070		(0.0070	)		—		—		(0.0070	)		—		1.00		0.72			9,698			0.56			0.55			0.55			0.96			—

(a)	Information presented relates to a share outstanding throughout the indicated period.
(b)	Assumes initial investment at net asset value at the beginning of each period, reinvestment of all distributions, the complete redemption of the investment at net asset value at the end of each period and no sales charge. Total return would be reduced if sales charges were taken into account.
(c)	Ratios do not include fees paid indirectly (See Expenses in the accompanying Notes to Financial Statements).
(d)	Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between the classes of shares issued.
(e)	Not annualized.
(f)	Annualized.
(g)	Commenced operations on December 22, 2006.
(h)	Commenced operations on December 22, 2006.
(i)	Commenced operations on December 22, 2006.

18

The Hartford Money Market Fund

Directors and Officers (Unaudited)

The Board of Directors appoints officers who are responsible for the day-to-day operations of the Fund and who execute policies formulated by the Directors. Each director serves until his or her death, resignation, or retirement or until the next annual meeting of shareholders is held or until his or her successor is elected and qualifies.

Directors and officers who are employed by or who have a financial interest in The Hartford are considered “interested” persons of the Fund pursuant to the Investment Company Act of 1940, as amended. Each officer and three of the Fund’s directors, as noted in the chart below, are “interested” persons of the Fund. Each director serves as a director for The Hartford Mutual Funds, Inc., The Hartford Mutual Funds II, Inc., The Hartford Income Shares Fund, Inc., Hartford Series Fund, Inc., and Hartford HLS Series Fund II, Inc., which collectively consist of 100 funds. Correspondence may be sent to directors and officers c/o Hartford Mutual Funds, P.O. Box 2999, Hartford, Connecticut 06104-2999, except that correspondence to Ms. Fagely may be sent to 500 Bielenberg Drive, Woodbury, Minnesota 55125.

The table below sets forth, for each director and officer, his or her name, year of birth, current position with the Fund and date first elected or appointed to The Hartford Mutual Funds, Inc. (“MF”) and The Hartford Mutual Funds II, Inc. (“MF2”), principal occupation, and, for directors, other directorships held. The Fund’s statement of additional information contains further information on the directors and is available free of charge by calling 1-888-843-7824 or writing to Hartford Mutual Funds, P.O. Box 64387, St. Paul, MN 55164-0387.

Information on the aggregate remuneration paid to the directors of the Fund can be found in the Statement of Operations herein. The Fund pays a portion of the Chief Compliance Officer’s compensation, but does not pay salaries or compensation to any of its officers or directors who are employed by The Hartford.

Non-Interested Directors

Lynn S. Birdsong (1946) Director since 2003, Co-Chairman of the Investment Committee

Mr. Birdsong is a private investor. Since 1981, Mr. Birdsong has been a partner in Birdsong Company, an advertising specialty firm. Since 2003, Mr. Birdsong has been an independent director of The Japan Fund. From 2003 to March 2005, Mr. Birdsong was an independent director of the Atlantic Whitehall Funds. From 1979 to 2002, Mr. Birdsong was a managing director of Zurich Scudder Investments, an investment management firm. During his employment with Scudder, Mr. Birdsong was an interested director of The Japan Fund.

Robert M. Gavin, Jr. (1940) Director since 2002 (MF) and 1986 (MF2), Chairman of the Board since 2004

Dr. Gavin is an educational consultant. Prior to September 1, 2001, he was President of Cranbrook Education Community and prior to July 1996, he was President of Macalester College, St. Paul, Minnesota.

Duane E. Hill (1945) Director since 2001 (MF) and 2002 (MF2), Chairman of the Nominating Committee

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

Sandra S. Jaffee (1941) Director since 2005

Ms. Jaffee is Chairman and Chief Executive Officer of Fortent (formerly Searchspace Group), a leading provider of compliance/regulatory technology to financial institutions. Ms. Jaffee served as an Entrepreneur in Residence with Warburg Pincus, a private equity firm, from August 2004 to August 2005. From September 1995 to July 2004, Ms. Jaffee served as Executive Vice President at Citigroup, where she was President and Chief Executive Officer of Citibank’s Global Securities Services (1995-2003).

William P. Johnston (1944) Director since 2005, Chairman of the Compliance Committee

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

19

The Hartford Money Market Fund
Directors and Officers (Unaudited) — (continued)

Phillip O. Peterson (1944) Director since 2002 (MF) and 2000 (MF2), Chairman of the Audit Committee

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

Lemma W. Senbet (1946) Director since 2005

Dr. Senbet is the William E. Mayer Chair Professor of Finance at the University of Maryland, Robert H. Smith School of Business. He was chair of the Finance Department during 1998-2006. Previously he was an endowed professor of finance at the University of Wisconsin-Madison. Also, he was director of the Fortis Funds from March 2000-July 2002. Dr. Senbet served the finance profession in various capacities, including as director of the American Finance Association and President of the Western Finance Association. In 2006, Dr. Senbet was inducted Fellow of Financial Management Association International for his career-long distinguished scholarship and professional service.

Interested Directors and Officers

Thomas M. Marra* (1958) Director since 2002

Mr. Marra has served as President and Chief Operating Officer of The Hartford Financial Services Group, Inc. (“The Hartford”) since 2007. Mr. Marra currently serves as Director of Hartford Life, Inc. (“HL, Inc.”). Mr. Marra served as Chief Operating Officer of Hartford Life Insurance Company, Inc. (“Hartford Life”) (2000-2008), as President of Hartford Life (2002-2008) and as Director of Hartford Life’s Investment Products Division from 1998 to 2000.

* On February 24, 2009, The Hartford and Mr. Marra determined to enter into a mutually agreed separation whereby Mr. Marra will retire, and his role as an executive officer and employee of The Hartford will terminate, effective July 3, 2009. Mr. Marra will resign his position as a Director of the Fund effective June 25, 2009.

Lowndes A. Smith (1939) Director since 2002, Co-Chairman of the Investment Committee

Mr. Smith served as Vice Chairman of The Hartford from February 1997 to January 2002, as President and Chief Executive Officer of Hartford Life, Inc. from February 1997 to January 2002, and as President and Chief Operating Officer of The Hartford Life Insurance Companies from January 1989 to January 2002. Mr. Smith serves as a Director of White Mountains Insurance Group, Ltd., One Beacon Insurance, Symetra Financial and as a Managing Director of Whittington Gray Associates.

John C. Walters* (1962) Director since 2008

Mr. Walters currently serves as Chief Executive Officer, President and Director of HL, Inc. Mr. Walters previously served as President of the U.S. Wealth Management Division of Hartford Life, Inc., as Co-Chief Operating Officer of Hartford Life Insurance Company (2007-2008) and as Executive Vice President and Director of its Investment Products Division (2000-2008). Mr. Walters also serves as Chairman of the Board, Chief Executive Officer, President and Director of Hartford Life Insurance Company and as Executive Vice President of The Hartford. In addition, Mr. Walters is Manager of HL Investment Advisors, LLC (“HL Advisors”).

* Mr. Walters previously served as President and Chief Executive Officer of the Fund (2007 — 2009).

Other Officers

Robert M. Arena, Jr. (1968) President and Chief Executive Officer since 2009 (served as Vice President of the Fund (2006 — 2009))

Mr. Arena serves as Executive Vice President of Hartford Life Insurance Company, (“Hartford Life”). Additionally, Mr. Arena is Director and Senior Vice President of Hartford Administrative Services Company, (“HASCO”), Manager, Chief Executive Officer and President of Hartford Investment Financial Services, LLC (“HIFSCO”) and HL Advisors. Prior to joining The Hartford in 2004, he was Senior Vice President in charge of Product Management for American Skandia/Prudential in the individual annuities division. Mr. Arena joined American Skandia in 1996.

Tamara L. Fagely (1958) Vice President, Treasurer and Controller since 2002 (MF) 1993 (MF2)

Ms. Fagely has been a Vice President of HASCO since 1998 and Chief Financial Officer since 2006. Currently Ms. Fagely is a Vice President of Hartford Life. She served as Assistant Vice President of Hartford Life from December 2001 through March 2005. In addition, Ms. Fagely is Controller and Chief Financial Officer of HIFSCO.

Brian Ferrell (1962) AML Compliance Officer since 2008

Mr. Ferrell has served as Assistant Vice President and AML Compliance Officer for The Hartford since 2006 and as AML Compliance Officer for HASCO and Hartford Investor Services Company, LLC (“HISC”) since 2008. Prior to joining The Hartford in 2006, Mr. Ferrell held various positions at the U.S. Department of the Treasury, (the “Treasury”), from 2001 to 2006 where he served as Chief Counsel for the Treasury’s Financial Crimes Enforcement Network, (“FinCEN”) from 2005 — 2006.

20

Thomas D. Jones, III (1965) Vice President and Chief Compliance Officer since 2006

Mr. Jones serves as Chief Compliance Officer for the Hartford Mutual Funds and Vice President and Director of Securities Compliance for The Hartford. He is also Vice President of HIFSCO, HL Advisors, and Hartford Life Insurance Company. Mr. Jones joined The Hartford in 2006 from SEI Investments, where he served as Chief Compliance Officer for its mutual funds and investment advisers. Prior to joining SEI, Mr. Jones was First Vice President and Compliance Director for Merrill Lynch Investment Managers (Americas) (“MLIM”), where he worked from 1992-2004. At MLIM, Mr. Jones was responsible for the compliance oversight of various investment products, including mutual funds, wrap accounts, institutional accounts and alternative investments.

Edward P. Macdonald (1967) Vice President, Secretary and Chief Legal Officer since 2005

Mr. Macdonald serves as Assistant General Counsel and Assistant Vice President of The Hartford and Chief Legal Officer and Vice President of HIFSCO. He also serves as Vice President and Secretary of HASCO, Assistant Vice President of Hartford Life, and Chief Legal Officer, Secretary and Vice President of HL Advisors. Prior to joining The Hartford in 2005, Mr. Macdonald was Chief Counsel, Investment Management for Prudential Financial (formerly American Skandia Investment Services, Inc.). He joined Prudential in April 1999.

Vernon J. Meyer (1964) Vice President since 2006

Mr. Meyer serves as Senior Vice President of Hartford Life and as Director of its Investment Advisory Group in the Individual Markets Group segment. He also serves as Senior Vice President of HIFSCO and HL Advisors. Prior to joining The Hartford in 2004, Mr. Meyer was with MassMutual which he joined in 1987.

D. Keith Sloane (1960) Vice President since 2009

Mr. Sloane is a Senior Vice President of Hartford Life where he serves as Director of mutual fund product management for The Hartford’s mutual funds and 529 college savings businesses. Additionally, Mr. Sloane currently serves as Senior Vice President of HIFSCO, HL Advisors, and HASCO. Prior to joining The Hartford in 2007, Mr. Sloane was Director of product marketing and led the mutual fund business for Wachovia Securities (“Wachovia”) in their investment products group. Mr. Sloane joined Wachovia in 1995.

Jane Wolak (1961) Vice President since 2009

Ms. Wolak currently serves as Vice President of Hartford Life. Ms. Wolak joined Hartford Life as Vice President, Retail Product Services in May 2007. She is also Vice President of HASCO. Previously, Ms. Wolak was with Sun Life Financial where she held the position of Vice President, Service Center Operations from 2001 — 2007.

HOW TO OBTAIN A COPY OF THE FUND’S PROXY VOTING POLICIES AND VOTING RECORDS

A description of the policies and procedures that the Fund uses to determine how to vote proxies relating to portfolio securities and a record of how the Fund voted any proxies for the twelve-month period ended June 30, 2008 is available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov.

QUARTERLY PORTFOLIO HOLDINGS INFORMATION

The Fund files a complete schedule of portfolio holdings with the Commission for the first and third quarters of each fiscal year on Form N-Q. The Fund’s Forms are available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov. The Form N-Q may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330.

21

The Hartford Money Market Fund

Expense Example (Unaudited)

Your Fund’s Expenses

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments and contingent deferred sales charges (CDSC) (2) ongoing costs including management fees; distribution fees; and other fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the period of October 31, 2008 through April 30, 2009.

Actual Expenses

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

Hypothetical Example for Comparison Purposes

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

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads) and CDSC. Therefore, the second line 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 are equal to the Fund’s annualized expense ratios multiplied by average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

	Actual return						Hypothetical (5% return before expenses)
					Expenses paid						Expenses paid					Days in
					during the period						during the period					the		Days
	Beginning		Ending Account		October 31, 2008		Beginning		Ending Account		October 31,		Annualized			current		in the
	Account Value		Value		through		Account Value		Value		2008 through		expense			1/2		full
	October 31, 2008		April 30, 2009		April 30, 2009		October 31, 2008		April 30, 2009		April 30, 2009		ratio			year		year
Class A	$	1,000.00	$	1,000.25	$	3.07	$	1,000.00	$	1,021.72	$	3.11		0.62	%		181		365
Class B	$	1,000.00	$	1,000.04	$	3.32	$	1,000.00	$	1,021.47	$	3.36		0.67			181		365
Class C	$	1,000.00	$	1,000.04	$	3.37	$	1,000.00	$	1,021.42	$	3.41		0.68			181		365
Class R3	$	1,000.00	$	1,000.11	$	3.07	$	1,000.00	$	1,021.72	$	3.11		0.62			181		365
Class R4	$	1,000.00	$	1,000.30	$	2.78	$	1,000.00	$	1,022.02	$	2.81		0.56			181		365
Class R5	$	1,000.00	$	1,000.67	$	2.73	$	1,000.00	$	1,022.07	$	2.76		0.55			181		365
Class Y	$	1,000.00	$	1,000.83	$	2.48	$	1,000.00	$	1,022.32	$	2.51		0.50			181		365

22

The Hartford Select MidCap Value Fund

Table of Contents

Manager Discussions (Unaudited)	2
Financial Statements
Schedule of Investments at April 30, 2009 (Unaudited)	4
Statement of Assets and Liabilities at April 30, 2009 (Unaudited)	7
Statement of Operations for the Six Month Period Ended April 30, 2009 (Unaudited)	8
Statement of Changes in Net Assets for the Six Month Period Ended April 30, 2009 (Unaudited) and the Year Ended October 31, 2008	9
Notes to Financial Statements (Unaudited)	10
Financial Highlights (Unaudited)	20
Directors and Officers (Unaudited)	21
How to Obtain a Copy of the Fund’s Proxy Voting Policies and Proxy Voting Records (Unaudited)	23
Quarterly Portfolio Holdings Information (Unaudited)	23
Expense Example (Unaudited)	24

The Hartford Select MidCap Value Fund
(subadvised by Hartford Investment Management Company)

Performance Overview(1) 4/29/05 - 4/30/09
Growth of a $10,000 investment in Class A which includes Sales Charge

Russell MidCap Value Index measures the performance of those Russell Midcap companies with lower price-to-book ratios and lower forecasted growth rate. These stocks are also members of the Russell 1000 Value Index.

You cannot invest directly in an index.

The value of shares will fluctuate so that, when redeemed, shares may be worth more or less than their original cost. The chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.

Investment objective – Seeks long-term capital appreciation.

Average Annual Total Returns(2,3) (as of 4/30/09)

	Inception		1			Since
	Date		Year			Inception
Select MidCap Value A#		4/29/05		-33.02	%		-6.45	%
Select MidCap Value A##		4/29/05		-36.70	%		-7.76	%
Select MidCap Value B#		4/29/05		-33.37	%		-7.04	%
Select MidCap Value B##		4/29/05		-36.67	%		-7.43	%
Select MidCap Value C#		4/29/05		-33.39	%		-7.10	%
Select MidCap Value C##		4/29/05		-34.05	%		-7.10	%
Select MidCap Value Y#		4/29/05		-32.90	%		-6.19	%

#	Without sales charge
##	With sales charge

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1) Growth of a $10,000 investment in Classes B, C and Y shares will vary from results seen above due to differences in the expenses charged to these share classes.

(2) The initial investment in Class A shares reflects the maximum sales charge and Classes B and C reflect CDSC.

(3) Total returns presented above were calculated using the Fund’s net asset value available to shareholders for sale or redemption of Fund shares on April 30, 2009, which excludes investment transactions as of this date.

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

Portfolio Managers
Hugh Whelan, CFA	Kurt Cubbage, CFA
Managing Director	Vice President

How did the Fund perform?

The Class A shares of The Hartford Select MidCap Value Fund returned -4.33%, before sales charge, for the six-month period ended April 30, 2009, versus -6.14% for its benchmark, the Russell MidCap Value Index, and the -1.96% average return of the Lipper Mid-Cap Value Funds category, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

Over the past 6 months, the Fund’s relative outperformance (i.e. performance of the fund as measured against the benchmark) for the period was primarily due to security selection and sector allocation. Security selection was especially strong in the Materials sector. Our underweight (i.e. the Fund’s sector position was less than the benchmark) to Financial Services and overweight (i.e. the Fund’s sector position was greater than the benchmark) to Health Care aided performance due to sector allocation.

Among the largest contributors to relative performance were an overweight in Rohm & Haas (Materials) and in Schnitzer Steel Industries (Materials). Rohm & Haas rose after Dow acquired the company, and Wall Street rewarded Schnitzer’s cost cutting measures and ability to take advantage of infrastructure projects.

Among the largest detractors to relative performance were overweight Huntington Bancshares (Financial Services) and CapitalSource (Financial Services). Huntington Bancshares dropped as investors continued to be concerned about issues related to Franklin Credit, a subprime mortgage lender the company acquired in 2007. CapitalSource fell as rating agencies downgraded the company and expressed concern about further meaningful investment losses.

The portfolio’s current top holdings include over weight Bunge Limited (Consumer Staples) and Progressive Corporation

2

(Financial Services). Our model considers four categories of characteristics when evaluating a stock’s attractiveness: business behavior, management behavior, valuation, and investor behavior. Both are top holdings primarily because of their combination of attractive management and investor behavior characteristics.

Our team invests in companies that we believe have compelling stock characteristics versus the Russell Mid Cap Value Index. The Team’s systematic approach weighs more than 80 fundamental characteristics across four broad categories, including business behavior, management behavior, valuation and investor behavior. This analysis is used to build a broadly diversified portfolio of companies, with sector weightings determined largely by the attractiveness of specific stocks within the Fund’s investment universe.

We are committed to our belief that, for long-term success, that the best approach is to remain fully invested and build the portfolio from the bottom-up based on company-specific fundamentals.

What is the outlook?

The impressive rally that began in March raises the question: has the market bottomed? It is our belief that the long term, sustainable growth of the market comes from fundamentally sound and growing earnings. Looking first at the characteristics of the companies that led this rally and then the aggregate earnings growth of the market, leads us to believe that the current market rally cannot be sustained and that the Fund’s relative performance will improve as the market returns to working its way through its traditional, fundamentally-based, long term investment cycle.

In March and April, stocks with the lowest quality ratings, the lowest profitability, and the highest debt-to-equity ratios led the rally; and we do not believe that type of leadership is sustainable. We look for companies with stronger fundamentals to lead us out of this recession, the same type of companies in which we invest: profitable, growing, and attractively priced with sound management discipline.

Furthermore, the earnings picture is cloudy. First, earnings are falling at near record-breaking rates and all indications are that they will continue to fall. Second, the quality and reliability of the earnings reported is lower than historical standards as the gap between pro forma (“street”) earnings and GAAP (Generally Accepted Accounting Principles) earnings rose in the past several months. Third, there is little clarity in future earnings prospects as the disparity among analyst estimates for future earnings remains at elevated levels. Historically, such consensus building was a precondition to the final, sustained recovery from bear markets associated with recessions.

The overall market environment looks very challenging. In the short term, investors should expect continued market volatility on both an absolute (i.e. total return) and relative basis. However, we believe patient investors willing to endure this short-term volatility will be rewarded in the long run from the high quality, fundamentally sound stocks that we favor.

Diversification by Industry
as of April 30, 2009

	Percentage of
Industry	Net Assets
Automobiles & Components		0.3	%
Banks		3.1
Capital Goods		4.7
Commercial & Professional Services		1.0
Consumer Durables & Apparel		3.7
Consumer Services		0.4
Diversified Financials		2.3
Energy		4.9
Food & Staples Retailing		0.3
Food, Beverage & Tobacco		7.6
Health Care Equipment & Services		5.2
Insurance		11.2
Materials		9.3
Media		2.2
Pharmaceuticals, Biotechnology & Life Sciences		2.0
Real Estate		10.5
Retailing		8.2
Semiconductors & Semiconductor Equipment		1.3
Software & Services		2.6
Technology Hardware & Equipment		4.3
Telecommunication Services		2.8
Transportation		0.6
Utilities		9.4
Short-Term Investments		2.1
Other Assets and Liabilities		—
Total		100.0	%

3

The Hartford Select MidCap Value Fund

Schedule of Investments
April 30, 2009 (Unaudited)
(000’s Omitted)

Shares or Principal Amount			Market Value ╪
COMMON STOCKS - 97.9%
		Automobiles & Components - 0.3%
	5	Autoliv, Inc.	$	133
		Banks - 3.1%
	4	Bank of Hawaii Corp.		137
	3	BOK Financial Corp.		117
	2	First Citizens Bancshares Class A		190
	12	First Horizon National Corp.		139
	11	Hudson City Bancorp, Inc.		143
	11	Keycorp		65
	29	Regions Financial Corp.		132
	10	Wilmington Trust Corp.		148
	11	Zion Bancorp		120
				1,191
		Capital Goods - 4.7%
	4	Aecom Technology Corp. •		106
	6	AGCO Corp. •		141
	4	Cooper Industries Ltd.		125
	6	Eaton Corp.		261
	2	Flowserve Corp.		149
	6	Gardner Denver Machinery, Inc. •		154
	14	Ingersoll-Rand Co. Class A		296
	4	ITT Corp.		154
	1	L-3 Communications Holdings, Inc.		99
	4	Quanta Services, Inc. •		95
	8	Thomas & Betts Corp. •		258
				1,838
		Commercial & Professional Services - 1.0%
	6	Manpower, Inc.		237
	12	R.R. Donnelley & Sons Co.		143
				380
		Consumer Durables & Apparel - 3.7%
	4	Black & Decker Corp.		173
	7	Harman International Industries, Inc.		128
	28	Jones Apparel Group, Inc.		262
	13	Mattel, Inc.		197
	—	NVR, Inc. •		240
	3	Stanley Works		110
	4	V.F. Corp.		228
	2	Whirlpool Corp.		111
				1,449
		Consumer Services - 0.4%
	8	Career Education Corp. •		170
		Diversified Financials - 2.3%
	25	Discover Financial Services, Inc.		202
	6	Invesco Ltd.		85
	10	Leucadia National Corp.		217
	3	Northern Trust Corp.		163
	15	Raymond James Financial, Inc.		231
				898
		Energy - 4.9%
	7	Cimarex Energy Co.		175
	7	Forest Oil Corp. •		109
	4	Helmerich & Payne, Inc.		117
	13	Nabors Industries Ltd. •		198
	2	Noble Energy, Inc.		116
	10	Oil States International, Inc. •		183
	5	Plains Exploration & Production Co. •		89
	7	Southern Union Co.		110
	17	Spectra Energy Corp.		252
	8	Sunoco, Inc.		207
	17	Tesoro Corp.		256
	2	Tidewater, Inc.		100
				1,912
		Food & Staples Retailing - 0.3%
	6	Safeway, Inc.		126
		Food, Beverage & Tobacco - 7.6%
	7	Brown-Forman Corp.		338
	7	Bunge Ltd. Finance Corp.		343
	4	Campbell Soup Co.		111
	11	Coca-Cola Enterprises, Inc.		193
	13	Constellation Brands, Inc. Class A •		148
	4	Corn Products International, Inc.		96
	9	Dean Foods Co. •		192
	14	Del Monte Foods Co.		109
	12	Dr Pepper Snapple Group •		244
	7	H.J. Heinz Co.		232
	8	Hershey Co.		304
	4	Hormel Foods Corp.		125
	4	Lorillard, Inc.		268
	5	McCormick & Co., Inc.		144
	15	Sara Lee Corp.		121
				2,968
		Health Care Equipment & Services - 5.2%
	18	Cigna Corp.		353
	4	Henry Schein, Inc. •		166
	18	Hill-Rom Holdings, Inc.		234
	35	Hlth Corp. •		382
	7	Hologic, Inc. •		104
	3	Hospira, Inc. •		92
	5	Humana, Inc. •		142
	10	IMS Health, Inc.		129
	5	Lincare Holdings, Inc. •		111
	3	MEDNAX, Inc. •		115
	8	Omnicare, Inc.		193
				2,021
		Insurance - 11.2%
	—	Alleghany Corp. •		111
	4	Allied World Assurance Holdings Ltd.		130
	5	AON Corp.		203
	2	Arch Capital Group Ltd. •		136
	4	Assurant, Inc.		108
	6	Axis Capital Holdings Ltd.		135
	7	Cincinnati Financial Corp.		168
	30	CNA Financial Corp.		359
	4	Endurance Specialty Holdings Ltd.		110
	4	Everest Re Group Ltd.		329
	5	Fidelity National Financial, Inc.		91
	5	Hanover Insurance Group, Inc.		135
	6	HCC Insurance Holdings, Inc.		148
	—	Markel Corp. •		126
	21	MBIA, Inc. •		101
	4	PartnerRe Ltd.		256
	15	Principal Financial Group, Inc.		250
	37	Progressive Corp.		561
	6	Transatlantic Holdings, Inc.		231
	10	W.R. Berkley Corp.		229
	1	White Mountains Insurance Group Ltd.		159

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

4

Shares or Principal Amount			Market Value ╪
COMMON STOCKS - 97.9% — (continued)
		Insurance - 11.2% — (continued)
	34	XL Capital Ltd. Class A	$	322
				4,398
		Materials - 9.3%
	2	Ball Corp.		85
	5	FMC Corp.		241
	34	International Paper Co.		427
	11	Intrepid Potash, Inc. •		274
	3	Lubrizol Corp.		138
	7	Nalco Holding Co.		113
	12	Owens-Illinois, Inc. •		290
	9	Pactiv Corp. •		188
	6	PPG Industries, Inc.		258
	4	Reliance Steel & Aluminum		145
	5	Schnitzer Steel Industries, Inc.		235
	9	Scotts Miracle-Gro Co. Class A		291
	6	Sealed Air Corp.		115
	6	Sigma-Aldrich Corp.		265
	7	Sonoco Products Co.		173
	32	Steel Dynamics, Inc.		395
				3,633
		Media -2.2%
	35	CBS Corp. Class B		249
	12	Liberty Global, Inc. •		205
	9	McGraw-Hill Cos., Inc.		256
	—	Washington Post Co. Class B		136
				846
		Pharmaceuticals, Biotechnology & Life Sciences - 2.0%
	9	Endo Pharmaceuticals Holdings, Inc. •		154
	18	Forest Laboratories, Inc. •		384
	11	Mylan, Inc. •		145
	9	PerkinElmer, Inc.		127
				810
		Real Estate - 10.5%
	4	Alexandria Real Estate Equities, Inc.		155
	34	Annaly Capital Management, Inc.		476
	5	Boston Properties, Inc.		235
	5	BRE Properties		118
	8	Digital Realty Trust, Inc.		292
	35	Duke Realty, Inc.		343
	2	Essex Property Trust, Inc.		115
	8	Federal Realty Investment Trust		450
	7	HCP, Inc.		160
	7	Health Care, Inc.		250
	56	Host Hotels & Resorts, Inc.		428
	11	Kimco Realty Corp.		128
	9	Plum Creek Timber Co., Inc.		321
	6	Public Storage		424
	5	Rayonier, Inc.		205
				4,100
		Retailing -8.2%
	17	American Eagle Outfitters, Inc.		258
	10	AutoNation, Inc. •		173
	4	Barnes & Noble, Inc.		105
	10	Bed Bath & Beyond, Inc. •		304
	7	Family Dollar Stores, Inc.		232
	17	Foot Locker, Inc.		196
	13	Gap, Inc.		200
	3	Genuine Parts Co.		105
	10	J.C. Penney Co., Inc.		310
	7	Kohl’s Corp. •		334
	20	Limited Brands, Inc.		233
	31	Macy’s, Inc.		417
	4	O’Reilly Automotive, Inc. •		150
	3	Sears Holdings Corp. •		184
				3,201
		Semiconductors & Semiconductor Equipment - 1.3%
	41	Atmel Corp. •		159
	5	Cree, Inc. •		145
	41	Micron Technology, Inc. •		199
				503
		Software & Services - 2.6%
	17	CA, Inc.		292
	35	Cadence Design Systems, Inc. •		197
	8	IAC/Interactive Corp. •		134
	5	McAfee, Inc. •		180
	10	Synopsys, Inc. •		222
				1,025
		Technology Hardware & Equipment - 4.3%
	69	JDS Uniphase Corp. •		319
	18	Lexmark International, Inc. ADR •		344
	19	QLogic Corp. •		270
	10	SanDisk Corp. •		159
	30	Sun Microsystems, Inc. •		275
	27	Tellabs, Inc. •		142
	24	Xerox Corp.		148
				1,657
		Telecommunication Services - 2.8%
	14	Century Tel, Inc.		385
	3	Embarq Corp.		119
	4	Leap Wireless International, Inc. •		148
	26	Qwest Communications International, Inc.		101
	7	Telephone and Data Systems, Inc.		189
	19	Windstream Corp.		159
				1,101
		Transportation - 0.6%
	15	Delta Air Lines, Inc. •		90
	12	UTI Worldwide, Inc.		164
				254
		Utilities - 9.4%
	10	American Electric Power Co., Inc.		253
	5	American Water Works Co., Inc.		86
	13	CenterPoint Energy, Inc.		138
	14	CMS Energy Corp.		171
	6	Consolidated Edison, Inc.		206
	5	Edison International		154
	17	N.V. Energy, Inc.		177
	7	National Fuel Gas Co.		226
	7	Northeast Utilities		147
	7	NRG Energy, Inc. •		126
	5	Oneok, Inc.		136
	9	PG&E Corp.		315
	8	Progress Energy, Inc.		277
	6	Questar Corp.		163
	3	SCANA Corp.		85
	8	Sempra Energy		377
	15	TECO Energy, Inc.		154
	6	UGI Corp.		147
	3	Wisconsin Energy Corp.		114

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

5

The Hartford Select MidCap Value Fund

Schedule of Investments — (continued) 
April 30, 2009 (Unaudited)
(000’s Omitted)

Shares or Principal Amount					Market Value ╪
COMMON STOCKS - 97.9% — (continued)
		Utilities - 9.4% — (continued)
	13	Xcel Energy, Inc.			$	242
						3,694
		Total common stocks (cost $45,107)			$	38,308
		Total long-term investments (cost $45,107)			$	38,308
SHORT-TERM INVESTMENTS - 2.1%
		Repurchase Agreements - 1.6%
		BNP Paribas Securities Corp. Repurchase Agreement (maturing on 05/01/2009 in the amount of $477, collateralized by U.S. Treasury Bond 5.38%, 2031, value of $486)
$	477	0.15%, 04/30/2009			$	477
		UBS Securities, Inc. Repurchase Agreement (maturing on 05/01/2009 in the amount of $133, collateralized by U.S. Treasury Bond 7.50%, 2024, value of $136)
	133	0.13%, 04/30/2009				133
						610
		U.S. Treasury Bills - 0.5%
$	220	0.18%, 07/16/2009 •			$	220
		Total short-term investments (cost $830)			$	830
		Total investments (cost $45,937)▲	100.0	%	$	39,138
		Other assets and liabilities	—	%		17
		Total net assets	100.0	%	$	39,155

Note:	Percentage of investments as shown is the ratio of the total market value to total net assets.
▲	At April 30, 2009, the cost of securities for federal income tax purposes was $47,311 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	1,983
Unrealized Depreciation		(10,156	)
Net Unrealized Depreciation	$	(8,173	)

• Currently non-income producing.

o The interest rate disclosed for these securities represents the effective yield on the date of the acquisition.

□ Security pledged as initial margin deposit for open futures contracts at April 30, 2009.

     Futures Contracts Outstanding at April 30, 2009

					Unrealized
	Number of			Expiration	Appreciation/
Description	Contracts*		Position	Month	(Depreciation)
S&P Mid 400 Mini		13	Long	Jun 2009	$	68

*	The number of contracts does not omit 000’s.
╪	See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of securities.

FAS 157 Disclosure of Investment Valuation Hierarchy Levels

Assets:
Investment in securities — Level 1	$	38,308
Investment in securities — Level 2		830
Total	$	39,138
Other financial instruments — Level 1 *	$	68
Total	$	68

* Other financial instruments are derivative instruments not reflected in the Schedule of Investments, such as futures, forwards and swap contracts, which are valued at the unrealized appreciation/depreciation on the investment.

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

6

The Hartford Select MidCap Value Fund

Statement of Assets and Liabilities

April 30, 2009 (Unaudited)
(000’s Omitted)

Assets:
Investments in securities, at fair value (cost $45,937)	$	39,138
Cash		—
Receivables:
Fund shares sold		32
Dividends and interest		24
Variation margin		1
Other assets		58
Total assets		39,253
Liabilities:
Payables:
Fund shares redeemed		65
Investment management fees		5
Distribution fees		1
Accrued expenses		27
Total liabilities		98
Net assets	$	39,155
Summary of Net Assets:
Capital stock and paid-in-capital		83,958
Accumulated undistributed net investment income		183
Accumulated net realized loss on investments		(38,255	)
Unrealized depreciation of investments		(6,731	)
Net assets	$	39,155
Shares authorized		800,000
Par value	$	0.001
Class A: Net asset value per share/Maximum offering price per share	$	6.31/$6.67
Shares outstanding		2,134
Net assets	$	13,458
Class B: Net asset value per share	$	6.19
Shares outstanding		291
Net assets	$	1,803
Class C: Net asset value per share	$	6.20
Shares outstanding		390
Net assets	$	2,415
Class Y: Net asset value per share	$	6.29
Shares outstanding		3,412
Net assets	$	21,479

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

7

The Hartford Select MidCap Value Fund

Statement of Operations

For the Six Month Period Ended April 30, 2009 (Unaudited)
(000’s Omitted)

Investment Income:
Dividends	$	634
Interest		1
Securities lending		17
Less: Foreign tax withheld		—
Total investment income		652
Expenses:
Investment management fees		146
Transfer agent fees		53
Distribution fees
Class A		17
Class B		9
Class C		12
Custodian fees		5
Accounting services		2
Registration and filing fees		23
Board of Directors’ fees		1
Audit fees		3
Other expenses		15
Total expenses (before waivers and fees paid indirectly)		286
Expense waivers		(60	)
Transfer agent fee waivers		(26	)
Custodian fee offset		—
Total waivers and fees paid indirectly		(86	)
Total expenses, net		200
Net investment income		452
Net Realized Loss on Investments and Other Financial Instruments:
Net realized loss on investments in securities		(15,740	)
Net realized loss on futures		(230	)
Net Realized Loss on Investments and Other Financial Instruments		(15,970	)
Net Changes in Unrealized Appreciation of Investments and Other Financial Instruments:
Net unrealized appreciation of investments		12,603
Net unrealized appreciation of futures		133
Net Changes in Unrealized Appreciation of Investments and Other Financial Instruments		12,736
Net Loss on Investments and Other Financial Instruments		(3,234	)
Net Decrease in Net Assets Resulting from Operations	$	(2,782	)

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

8

The Hartford Select MidCap Value Fund

Statement of Changes in Net Assets

(000’s Omitted)

	For the Six-Month
	Period Ended			For the
	April 30, 2009			Year Ended
	(Unaudited)			October 31, 2008
Operations:
Net investment income	$	452		$	907
Net realized loss on investments and other financial instruments		(15,970	)		(21,827	)
Net unrealized appreciation (depreciation) of investments and other financial instruments		12,736			(15,059	)
Net decrease in net assets resulting from operations		(2,782	)		(35,979	)
Distributions to Shareholders:
From net investment income
Class A		(228	)		(34	)
Class B		(17	)		—
Class C		(11	)		—
Class Y		(524	)		(316	)
From net realized gain on investments
Class A		—			(3,926	)
Class B		—			(445	)
Class C		—			(831	)
Class Y		—			(5,606	)
Total distributions		(780	)		(11,158	)
Capital Share Transactions:
Class A		(1,424	)		(7,322	)
Class B		(198	)		(200	)
Class C		(143	)		(2,568	)
Class Y		(3,210	)		(814	)
Net decrease from capital share transactions		(4,975	)		(10,904	)
Net decrease in net assets		(8,537	)		(58,041	)
Net Assets:
Beginning of period		47,692			105,733
End of period	$	39,155		$	47,692
Accumulated undistributed net investment income	$	183		$	511

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

9

The Hartford Select MidCap Value Fund

Notes to Financial Statements

April 30, 2009 (Unaudited)

(000’s Omitted)

1.	Organization:
	The Hartford Mutual Funds, Inc. (“Company”) is an open-end management investment company comprised of fifty-two portfolios. Financial statements for The Hartford Select MidCap Value Fund (the “Fund”), a series of the Company, are included in this report.
	The Company is organized under the laws of the State of Maryland and is registered with the Securities and Exchange Commission (“SEC”) under the Investment Company Act of 1940, as amended (“1940 Act”). The Fund is a diversified open-end management investment company.
	Class A shares are sold with a front-end sales charge of up to 5.50%. Class B shares are sold with a contingent deferred sales charge which is assessed on the lesser of the per share net asset value (“NAV”) of the shares at the time of redemption or the original purchase price, and declines from up to 5.00% to zero depending on the period of time the shares are held. Class C shares are sold with a contingent deferred sales charge of up to 1.00% on shares redeemed within twelve months of purchase. Class Y shares, which are sold to certain eligible institutional investors, are sold without a sales charge. All classes of shares have identical voting, redemption, dividend, liquidation and other rights and the same terms and conditions, with the exceptions that each class may have different expenses, which may affect performance, and except that Class B shares automatically convert to Class A shares after 8 years.
	Effective at the close of business on September 30, 2009 (the “Close Date”), no new or additional investments will be allowed in Class B shares of The Hartford Mutual Funds (including investments through any systematic investment plan). After the Close Date, existing shareholders of Class B shares may continue to hold their Class B shares, exchange their Class B shares for Class B shares of another Hartford Mutual Fund (as permitted by existing exchange privileges), and redeem their Class B shares as described in the Fund’s prospectus. Reinstatement privileges with respect to Class B shares will continue under the current policy. If you have chosen to reinvest capital gains and dividends, any such capital gains or dividends on Class B shares will continue to be reinvested in Class B shares of the Fund. For Class B shares outstanding as of the Close Date, all Class B share attributes, including the 12b-1 fee, contingent deferred sales charge schedule, and conversion to Class A shares remain unchanged.
2.	Significant Accounting Policies:
	The following is a summary of significant accounting policies of the Fund, which are in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”).

a)	Security Transactions and Investment Income - Security transactions are recorded on the trade date (the date the order to buy or sell is executed). Security gains and losses are determined on the basis of identified cost.
	Dividend income is accrued as of the ex-dividend date, except that certain dividends for foreign securities where the ex-dividend date may have passed are recorded as soon as the Fund is informed of the dividend in the exercise of reasonable diligence. Interest income, including amortization of premium and accretion of discounts, is accrued on a daily basis.
b)	Security Valuation – The Fund generally uses market prices in valuing portfolio securities. If market prices are not readily available or are deemed unreliable, the Fund will use the fair value of the security as determined in good faith under policies and procedures established by and under the supervision of the Fund’s Board of Directors. Market prices may be deemed unreliable, for example, if a security is thinly traded or if an event has occurred after the close of the security’s primary markets, but before the close of the New York Stock Exchange (the “Exchange”) (normally 4:00 p.m. Eastern Time, referred to as the “Valuation Time”) that is expected to affect the value of the portfolio security. The circumstances in which the Fund may use fair value pricing include, among others: (i) the occurrence of events that are significant to a particular issuer, such as mergers, restructuring or defaults; (ii) the occurrence of events that are significant to an entire market, such as natural disasters in a particular region or governmental actions; (iii) trading restrictions on securities; (iv) thinly traded securities and (v) market events such as trading halts and early market

10

closings. In addition, with respect to the valuation of stocks primarily traded on foreign markets, the Fund uses a fair value pricing service approved by the Fund’s Board of Directors, which employs quantitative models that evaluate changes in the value of foreign market proxies (e.g., futures contracts, ADR’s, exchange traded funds (“ETF’s”)) after the close of the foreign markets but before the close of the Exchange. Securities that are primarily traded on foreign markets may trade on days that are not business days of the Fund. The value of the foreign securities in which the Fund invests may change on days when a shareholder will not be able to purchase or redeem shares of the Fund. Fair value pricing is subjective in nature and the use of fair value pricing by the Fund may cause the NAV of its shares to differ significantly from the NAV that would have been calculated using market prices at the close of the exchange on which a portfolio security is primarily traded but before the close of the Exchange. There can be no assurance that the Fund could obtain the fair value assigned to a security if the Fund were to sell the security at approximately the time at which the Fund determines its NAV.

Debt securities (other than short-term obligations and senior floating rate interests) held by the Fund are valued on the basis of valuations furnished by an independent pricing service which determines valuations for normal institutional size trading units of debt securities. Senior floating rate interests generally trade in over-the-counter markets and are priced through an independent pricing service utilizing independent market quotations from loan dealers or financial institutions. Securities for which prices are not available from an independent pricing service are valued using market quotations obtained from one or more dealers that make markets in the securities in accordance with procedures established by the Fund’s Board of Directors. Generally, the Fund may use fair valuation in regard to debt securities when the Fund holds defaulted or distressed securities or securities in a company in which a reorganization is pending. Short-term investments with a maturity of more than 60 days when purchased are valued based on market quotations until the remaining days to maturity become less than 61 days. Investments that mature in 60 days or less are valued at amortized cost, which approximates market value.

Exchange traded equity securities shall be valued at the last reported sale price on the exchange or market on which the security is primarily traded (the “Primary Market”) at the Valuation Time. If the security did not trade on the Primary Market, it may be valued at the Valuation Time at the last reported sale price on another exchange where it trades. The value of an equity security not traded on any exchange but traded on the Nasdaq Stock Market, Inc. (“Nasdaq”) or another over-the-counter market shall be valued at the last reported sale price or official closing price on the exchange or market on which the security is traded as of the Valuation Time. If it is not possible to determine the last reported sale price or official closing price on the relevant exchange or market at the Valuation Time, the value of the security shall be taken to be the most recent mean between bid and asked prices on such exchange or market at the Valuation Time.

Options contracts on securities, currencies, indexes, futures contracts, commodities and other instruments shall be valued at their most recent sales price at the Valuation Time on the Primary Market on which the instrument is primarily traded. If the instrument did not trade on the Primary Market, it may be valued at the most recent sales price at the Valuation Time on another exchange or market where it did trade.

Futures contracts are valued at the most recent settlement price reported by an exchange on which, over time, they are traded most extensively. If a settlement price is not available, futures contracts will be valued at the most recent trade price as of the Valuation Time. If there were no trades, the contract shall be valued at the mean of the closing bid/ask prices as of the Valuation Time.

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

Other derivative or contractual type instruments shall be valued using market prices if such instruments trade on an exchange or market. If such instruments do not trade on an exchange or market, such instruments shall be valued at a price at which the counterparty to such contract would repurchase the instrument. In the event that the counterparty cannot provide a price, such valuation may be determined in accordance with procedures established by the Fund’s Board of Directors.

11

The Hartford Select MidCap Value Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)

(000’s Omitted)

c)	Securities Lending — The Fund may lend its securities to certain qualified brokers who pay the Fund negotiated lender fees. The loans are fully collateralized at all times with cash and/or U.S. Government Securities and/or repurchase agreements. The cash collateral is then invested in short-term money market instruments. The repurchase agreements are fully collateralized by U.S. Government Securities. The adequacy of the collateral for securities on loan is monitored on a daily basis. For instances where the market value of collateral falls below the market value of the securities out on loan, such collateral is supplemented on the following business day.
	While securities are on loan, the Fund is subject to the following risks: 1) that the borrower may default on the loan and that the collateral could be inadequate in the event the borrower defaults, 2) that the earnings on the collateral invested may not be sufficient to pay fees incurred in connection with the loan, 3) that the principal value of the collateral invested may decline and may not be sufficient to pay back the borrower for the amount of the collateral posted, 4) that the borrower may use the loaned securities to cover a short sale which may place downward pressure on the market prices of the loaned securities, 5) that return of loaned securities could be delayed and could interfere with portfolio management decisions and 6) that any efforts to recall the securities for purposes of voting a proxy may not be effective. The Fund had no securities out on loan as of April 30, 2009.
d)	Joint Trading Account — Pursuant to an exemptive order issued by the SEC, the Fund may transfer uninvested cash balances into a joint trading account managed by Hartford Investment Management Company (“Hartford Investment Management”). These balances may be invested in one or more repurchase agreements and/or short-term money market instruments.
e)	Repurchase Agreements — A repurchase agreement is an agreement by which the seller of a security agrees to repurchase the security sold at a mutually agreed upon time and price. At the time the Fund enters into a repurchase agreement, the value of the underlying collateral security(ies), including accrued interest, will be equal to or exceed the value of the repurchase agreement. Securities that serve to collateralize the repurchase agreement are held by the Fund’s custodian in book entry or physical form in the custodial account of the Fund or in a third party custodial account. Repurchase agreements are valued at cost plus accrued interest. The Fund, as shown on the Schedule of Investments, had outstanding repurchase agreements as of April 30, 2009.
f)	Indexed Securities — The Fund may invest in indexed securities whose values are linked to changes in interest rates, indices, or other underlying instruments. The Fund uses these securities to increase or decrease its exposure to different underlying instruments and to gain exposure to markets that might be difficult to invest in using conventional securities. Indexed securities may be more volatile than their underlying instruments, but any loss is limited to the amount of the original investment and there may be a limit to the potential appreciation of the investment. The Fund had no investments in indexed securities as of April 30, 2009.
g)	Fund Share Valuation and Dividend Distributions to Shareholders — Orders for the Fund’s shares are executed in accordance with the investment instructions of the shareholders. The NAV of the Fund’s shares is determined as of the close of each business day of the Exchange. The NAV is determined separately for each class of the Fund by dividing the Fund’s net assets attributable to that class by the number of shares of the class outstanding. Orders for the purchase of the Fund’s shares prior to the close of the Exchange on any day on which the Exchange is open for business are priced at the NAV determined as of the close of the Exchange. Orders after the close of the Exchange, or on a day on which the Exchange and/or the Fund is not open for business, are priced at the next determined NAV.
	The Fund intends to distribute substantially all of its net investment income and net realized capital gains to shareholders no less frequently than once a year. Normally, dividends from net investment income are declared and paid annually. Dividends are paid on shares beginning on the business day after the day when the funds used to purchase the shares are collected by the transfer agent for the Fund. Unless shareholders specify otherwise, all dividends will be automatically reinvested in additional full or fractional shares of the Fund.

12

	Distributions from net investment income, realized capital gains and capital are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP with respect to character and timing. These differences include but are not limited to foreign currency gains and losses, losses deferred due to wash sales adjustments, adjustments related to Passive Foreign Investment Companies and certain derivatives, and excise tax regulations. Permanent book and federal income tax basis differences relating to shareholder distributions will result in reclassifications to certain of the Fund’s capital accounts (see Federal Income Taxes: Reclassification of Capital Accounts footnote).
h)	Use of Estimates — The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and the reported amounts of income and expenses during the period. Operating results in the future could vary from the amounts derived from management’s estimates.
i)	Financial Accounting Standards Board Financial Accounting Standards No. 157 – Effective November 1, 2008, the Fund adopted Financial Accounting Standards Board (“FASB”) Statement of Financial Accounting Standards No. 157, “Fair Value Measurements” (“FAS 157”). This standard clarifies the definition of fair value for financial reporting, establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements. Fair value is defined under FAS 157 as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Under FAS 157, a fair value measurement should reflect all of the assumptions that market participants would use in pricing the asset or liability, including assumptions about the risk inherent in a particular valuation technique, the effect of a restriction on the sale or use of an asset, and the risk of nonperformance.
	Various inputs are used in determining the value of the Fund’s investment. These inputs are summarized, per FAS 157, into three broad hierarchy levels. This hierarchy is based on whether the valuation inputs are observable or unobservable. These levels are:

• Level 1 – Quoted prices in active markets for identical securities. Level 1 includes exchange-traded instruments such as domestic equities, some foreign equities, options, futures, mutual funds, ETF’s, and rights and warrants.

• Level 2 – Observable inputs other than Level 1 prices, such as quoted prices for similar securities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the security. Level 2 includes debt securities that are traded less frequently than exchange-traded instruments and that are valued using third party pricing services and foreign equities, whose value is determined using a multi-factor regression model with inputs that are observable in the market; and money market instruments, which are carried at amortized cost.

• Level 3 – Significant unobservable inputs that are supported by little or no market activity. Level 3 includes financial instruments whose values are determined using broker quotes and require significant management judgment or estimation. This category includes broker quoted securities, long dated OTC options and securities where trading has been halted or there are certain restrictions on trading. While these securities are priced using unobservable inputs, the valuation of these securities reflects the best available data and management believes the prices are a good representation of exit price.

Individual securities within any of the above mentioned asset classes may be assigned a different hierarchical level than those presented above, as individual circumstances dictate.

FAS 157 also requires that a roll forward reconciliation be shown for all Level 3 securities from the beginning of the reporting period to the end of the reporting period. Part of this reconciliation includes transfers in and/or out of Level 3. For purposes of this reconciliation, transfers in are shown at the end of period fair value and transfers out are shown at the beginning of period fair value. During the six-month period ended April 30, 2009, the Fund held no Level 3 securities.

Refer to the valuation hierarchy levels summary found following the Schedule of Investments.

13

The Hartford Select MidCap Value Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)

(000’s Omitted)

	FASB Staff Position No. 157-4 – In April 2009, FASB released FASB Staff Position No. 157-4, “Determining Fair Value When the Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly” (“FSP FAS 157-4”). FSP FAS 157-4 provides additional guidance on determining whether a market for a financial asset is not active and a transaction is not distressed when measuring fair value under FAS 157. The FSP also requires additional disclosure detail on debt and equity securities by major investment categories. FSP FAS 157-4 is effective for interim and annual periods ending after June 15, 2009. At this time, management is evaluating the implications of FSP FAS 157-4 and does not believe it will impact valuation but will require additional disclosure. This additional disclosure has not yet been implemented.
j)	Financial Accounting Standards Board Financial Accounting Standards No. 161 – In March 2008, the FASB released Statement of Financial Accounting Standards No. 161, “Disclosures about Derivative Instruments and Hedging Activities” (“FAS 161”). FAS 161 requires companies to disclose information detailing the objectives and strategies for using derivative instruments, the level of derivative activity entered into by the company and any credit risk-related contingent features of the agreements. The application of FAS 161 is required for fiscal years and interim periods beginning after November 15, 2008. At this time, management is evaluating the implications of FAS 161 and has not yet implemented the new disclosure standard.
k)	Indemnifications: Under the Company’s organizational documents, the Company shall indemnify its officers and directors to the full extent required or permitted under Maryland General Corporation Law and the federal securities law. In addition, the Company, on behalf of the Fund, may enter into contracts that contain a variety of indemnifications. The Company’s maximum exposure under these arrangements is unknown. However, the Company has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote.

3. Futures and Options:

Futures and Options Transactions – The Fund may invest in futures and options contracts in order to gain exposure to or protect against changes in the market. A futures contract is an agreement between two parties to buy and sell a security at a set price on a future date. When the Fund enters into such futures contracts, it is required to deposit with a futures commission merchant an amount of “initial margin” of cash, commercial paper or U.S. Treasury Bills. Subsequent payments, called variation margin, to and from the broker, are made on a daily basis as the price of the underlying security fluctuates, making the long and short positions in the futures contract more or less valuable (i.e., mark-to-market), which results in an unrealized gain or loss to the Fund.

At any time prior to the expiration of the futures contract, the Fund may close the position by taking an opposite position, which would effectively terminate the position in the futures contract. A final determination of variation margin is then made, additional cash is required to be paid by or released to the Fund and the Fund realizes a gain or loss.

The use of futures contracts involves elements of market risk, which may exceed the amounts recognized in the Statement of Assets and Liabilities. Changes in the value of the futures contracts may decrease the effectiveness of the Fund’s strategy and potentially result in loss. The Fund, as shown on the Schedule of Investments, had outstanding futures contracts as of April 30, 2009.

The premium paid by the Fund for the purchase of a call or put option is included in the Fund’s Statement of Assets and Liabilities as an investment and subsequently “marked-to-market” through net unrealized appreciation (depreciation) of options to reflect the current market value of the option as of the end of the reporting period.

The Fund may write (sell) covered options. “Covered” means that so long as the Fund is obligated as the writer of an option, it will own either the underlying securities or currency or an option to purchase or sell the same underlying securities or currency having an expiration date of the covered option and an exercise price equal to or less than the exercise price of the covered option, or will pledge cash or other liquid securities having a value equal to or greater than the fluctuating market value of the option securities or currencies. The Fund receives a premium for writing a call or put

14

option, which is recorded on the Fund’s Statement of Assets and Liabilities and subsequently “marked-to-market” through net unrealized appreciation (depreciation) of options. There is a risk of loss from a change in the value of such options, which may exceed the related premiums received. As of April 30, 2009, there were no outstanding written options contracts.

4. Federal Income Taxes:

a)

Federal Income Taxes - For federal income tax purposes, the Fund intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code (“IRC”) by distributing substantially all of its taxable net investment income and net realized capital gains to its shareholders and otherwise complying with the requirements of regulated investment companies. The Fund has distributed substantially all of its income and capital gains in prior years and the Fund intends to distribute substantially all of its income and gains during the calendar year ending December 31, 2009. Accordingly, no provision for federal income or excise taxes has been made in the accompanying financial statements. Distributions from short-term capital gains are treated as ordinary income distributions for federal income tax purposes.

b)

The tax character of distributions paid by the Fund for the periods indicated is as follows (as adjusted for dividends payable):

	For the Year Ended		For the Year Ended
	October 31, 2008		October 31, 2007
Ordinary Income	$	6,729	$	2,388
Long-Term Capital Gains *		4,429		539

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

As of October 31, 2008, the Fund’s components of distributable earnings (deficit) on a tax basis were as follows:

	Amount
Undistributed Ordinary Income	$	511
Accumulated Capital Losses*	$	(20,977	)
Unrealized Depreciation†	$	(20,775	)
Total Accumulated Deficit	$	(41,241	)

*	The Fund has capital loss carryforwards that are identified in the Capital Loss Carryforward note that follows.
†	The differences between book-basis and tax-basis unrealized appreciation (depreciation) are attributable to the tax deferral of wash sales losses, the mark-to-market adjustment for certain derivatives in accordance with IRC Sec. 1256, the mark to market for Passive Foreign Investment Companies and basis differences in real estate investment trusts.

c) Reclassification of Capital Accounts - In accordance with American Institute of Certified Public Accountants (AICPA) Statement of Position 93-2, Determination, Disclosure, and Financial Statement Presentation of Income, Capital Gain, and Return of Capital Distributions by Investment Companies, the Fund has recorded reclassifications in its capital accounts. These reclassifications had no impact on the NAV of the Fund. The reclassifications are a result of permanent differences between GAAP and tax accounting for such items as net operating losses that reduce distribution requirements. Adjustments are made to reflect the impact these items have on current and future distributions to shareholders. Therefore, the source of the Fund’s distributions may be shown in the accompanying Statement of Changes in Net Assets as from net investment income, from net realized gains on investments or from capital depending on the type of book and tax differences that exist. As of October 31, 2008, the Fund recorded reclassifications to decrease undistributed net investment income by $209 and increase accumulated net realized gain by $209.

15

The Hartford Select MidCap Value Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)

(000’s Omitted)

d) Capital Loss Carryforward - At October 31, 2008 (tax-year-end), the Fund had capital loss carryforwards for U.S. federal income tax purposes of approximately:

Year	Amount
2016	$	20,977
Total	$	20,977

e) Financial Accounting Standards Board Interpretation No. 48 – On July 13, 2006, the FASB released FASB Interpretation No. 48 “Accounting for Uncertainty in Income Taxes” (“FIN 48”). FIN 48 provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. The Fund adopted FIN 48 for fiscal years beginning after December 15, 2006. Management has evaluated the implications of FIN 48 for all open tax years (tax years ended October 31, 2006 – 2008) and has determined there is no impact to the Fund’s financial statements.

5. Expenses:

a)

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

The schedule below reflects the rates of compensation paid to HIFSCO for investment management services rendered during the six-month period ended April 30, 2009; the rates are accrued daily and paid monthly:

Average Daily Net Assets	Annual Fee
On first $500 million		0.75	%
On next $500 million		0.70	%
On next $4 billion		0.65	%
On next $5 billion		0.63	%
Over $10 billion		0.62	%

b) Accounting Services Agreement – Pursuant to the Fund Accounting Agreement between Hartford Life Insurance Company (“HLIC”) and the Fund, HLIC provides accounting services to the Fund and receives monthly compensation on the Fund’s average net assets. The Fund’s accounting service fees are accrued daily and paid monthly.

Average Daily Net Assets	Annual Fee
On first $5 billion		0.012	%
Over $5 billion		0.010	%

c) Operating Expenses - Allocable expenses incurred by the Company are allocated to each Fund and allocated to classes within the Fund in proportion to the average daily net assets of the Fund and each class, except where allocation of certain expenses is more fairly made directly to the Fund or to specific classes within a Fund. During the six-month period ended April 30, 2009, HIFSCO has contractually limited the total operating expenses of this Fund, exclusive of taxes, interest expense, brokerage commissions, certain distribution expenses and extraordinary expenses as follows:

Class A	Class B			Class C			Class Y
1.30%		2.05	%		2.05	%		0.90	%

16

d)	Fees Paid Indirectly — The Fund’s custodian bank has agreed to reduce its fees when the Fund maintains cash on deposit in the non-interest-bearing custody account. For the six-month period ended April 30, 2009, this amount is included in the Statement of Operations.
	The ratio of expenses to average net assets in the accompanying financial highlights excludes the reduction in expenses related to fees paid indirectly. Had the fees paid indirectly been included, the annualized expense ratio for the periods listed below would have been as follows:

	Annualized
	Six-Month
	Period			Year Ended			Year Ended			Year Ended			Year Ended
	Ended April			October 31,			October 31,			October 31,			October 31,
	30, 2009			2008			2007			2006			2005
Class A Shares		1.07	%		1.28	%		1.32	%		1.50	%		1.54	%*
Class B Shares		1.44			1.79			2.00			2.25			2.29	†
Class C Shares		1.62			1.97			2.07			2.25			2.29	‡
Class Y Shares		0.90			0.88			0.83			1.11			1.14	§

*	From April 29, 2005 (commencement of operations), through October 31, 2005
†	From April 29, 2005 (commencement of operations), through October 31, 2005
‡	From April 29, 2005 (commencement of operations), through October 31, 2005
§	From April 29, 2005 (commencement of operations), through October 31, 2005

e)	Distribution and Service Plan for Class A, B and C Shares — HIFSCO is the principal underwriter and distributor of the Fund. HIFSCO is engaged in distribution activities, which include marketing and distribution of shares through broker-dealers, financing distribution costs and maintaining financial books and records. For the six-month period ended April 30, 2009, HIFSCO received front-end load sales charges of $22 and contingent deferred sales charges of $3 from the Fund.
	The Fund has adopted Distribution and Service Plans in accordance with Rule 12b-1 of the Investment Company Act of 1940, as amended, to compensate the distributor (HIFSCO) for activities intended to result in the sale and distribution of Classes A, B and C shares and for providing services for shareholders. The Rule 12b-1 plan applicable to Class A shares of the Funds provides for payment of a Rule 12b-1 fee of up to 0.35% of average daily net assets; however, the Board of Directors has currently authorized 12b-1 payments of only up to 0.25%. Some or all of the fee may be used for shareholder servicing expenses with the remainder used for distribution expenses. Some or the entire Rule 12b-1 fee for Class B shares may be remitted to broker-dealers for distribution and/or shareholder account services. Under the Class B Plan, the Fund pays the distributor 1.00% of the average daily net assets of Class B shares that are outstanding for 8 years or less, 0.25% of which is a fee for services provided to existing shareholders with the remainder used for distribution expenses. After eight years, Class B shares convert to Class A shares. Upon conversion to Class A shares, the Class A plan described above will apply to those shares. Under the Class C Plan, the Fund pays the Distributor 1.00% of the average daily net assets of Class C shares outstanding, 0.25% of which is intended as a fee for services provided to existing shareholders with the remainder used for distribution expenses. For Class C shares, some or the entire fee may be remitted to broker-dealers for distribution and/or shareholder account services. The Fund’s 12b-1 fees are accrued daily and paid monthly.
	For the six-month period ended April 30, 2009, total sales commissions paid to affiliated brokers/dealers of The Hartford for distributing the Fund’s shares were $3. These commissions are in turn paid to sales representatives of the broker/dealers.

17

The Hartford Select MidCap Value Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)

(000’s Omitted)

f) Other Related Party Transactions – Certain officers of the Fund are directors and/or officers of HIFSCO and/or The Hartford or its subsidiaries. For the six-month period ended April 30, 2009, a portion of the Fund’s chief compliance officer’s salary was paid by the Fund in an amount, which rounds to zero. Hartford Administrative Services Company (“HASCO”), an indirect wholly owned subsidiary of The Hartford, provides transfer agent services to the Fund. HASCO was compensated $41 for providing such services. These fees are accrued daily and paid monthly.

6.	Investment Transactions:
	For the six-month period ended April 30, 2009, the Fund’s aggregate purchases and sales of investment securities (excluding short-term investments) were as follows:

	Amount
Cost of Purchases Excluding U.S. Government Obligations	$	20,244
Sales Proceeds Excluding U.S. Government Obligations		25,420

7.	Capital Share Transactions:
	The following information is for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	For the Six-Month Period Ended April 30, 2009												For the Year Ended October 31, 2008
			Shares					Shares							Shares					Shares
			Issued for					Issued		Net Increase					Issued for					Issued		Net Increase
	Shares		Reinvested		Shares			from		(Decrease) of			Shares		Reinvested		Shares			from		(Decrease) of
	Sold		Dividends		Redeemed			Merger		Shares			Sold		Dividends		Redeemed			Merger		Shares
Class A
Shares		263		37		(565	)		—		(265	)		673		369		(1,867	)		—		(825	)
Amount	$	1,546	$	223	$	(3,193	)	$	—	$	(1,424	)	$	6,335	$	3,806	$	(17,463	)	$	—	$	(7,322	)
Class B
Shares		30		3		(70	)		—		(37	)		64		42		(139	)		—		(33	)
Amount	$	177	$	16	$	(391	)	$	—	$	(198	)	$	589	$	424	$	(1,213	)	$	—	$	(200	)
Class C
Shares		66		2		(91	)		—		(23	)		82		80		(443	)		—		(281	)
Amount	$	371	$	11	$	(525	)	$	—	$	(143	)	$	751	$	805	$	(4,124	)	$	—	$	(2,568	)
Class Y
Shares		—		88		(662	)		—		(574	)		431		573		(1,429	)		—		(425	)
Amount	$	—	$	524	$	(3,734	)	$	—	$	(3,210	)	$	4,412	$	5,922	$	(11,148	)	$	—	$	(814	)

The following reflects the conversion of Class B Shares into Class A Shares (reflected as Class A Shares issued and Class B shares redeemed) for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	Shares		Dollars
For the Six-Month Period Ended April 30, 2009		3	$	19
For the Year Ended October 31, 2008		3	$	25

8.

Line of Credit:

The Fund is one of several Hartford Funds that participate in a $500 million committed revolving line of credit facility. The facility is to be used for temporary or emergency purposes. Under the arrangement, the Fund is required to own securities having a market value in excess of 300% of the total bank borrowings. The interest rate on borrowings varies depending on the nature of the loan. The facility also requires a fee to be paid based on the amount of the commitment. During the six-month period ended April 30, 2009, the Fund did not have any borrowings under this facility.

18

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

19

The Hartford Select MidCap Value Fund

Financial Highlights — (Unaudited)

	- Selected Per-Share Data - (a)																													- Ratios and Supplemental Data -
																																				Ratio of			Ratio of			Ratio of
																																				Expenses			Expenses			Expenses
																																				to Average			to Average			to Average
																																				Net Assets			Net Assets			Net Assets
																																				Before			After			After
								Net																												Waivers			Waivers			Waivers
								Realized																												and			and			and
								and Un-									Distrib-								Net											Reimburse-			Reimburse-			Reimburse-			Ratio of
			Net			Pay-		realized						Dividends			utions								Increase			Net								ments and			ments and			ments and			Net Invest-			Port-
	Net Asset		Invest-			ments		Gain						from Net			from			Distri-					(Decrease)			Asset					Net Assets			Including			Including			Excluding			ment			folio
	Value at		ment			from		(Loss) on			Total from			Invest-			Realized			butions		Total			in Net			Value at					at End of			Expenses			Expenses			Expenses			Income to			Turn-
	Beginning		Income			(to)		Invest-			Investment			ment			Capital			from		Distri-			Asset			End of		Total			Period			not Subject			not Subject			not Subject			Average			over
Class	of Period		(Loss)			Affiliate		ments			Operations			Income			Gains			Capital		butions			Value			Period		Return(b)				(000’s	)	to Cap(c)			to Cap(c)			to Cap(c)			Net Assets			Rate(d)
For the Six-Month Period Ended April 30, 2009 (Unaudited)
A	$	6.70	$	0.07		$	—	$	(0.36	)	$	(0.29	)	$	(0.10	)	$	—		$	—	$	(0.10	)	$	(0.39	)	$	6.31		(4 .33	)%(e)	$	13,458			1.79	%(f)		1 .07	%(f)		1 .07	%(f)		2 .26	%(f)		52	%
B		6.54		0.05			—		(0.35	)		(0.30	)		(0.05	)		—			—		(0.05	)		(0.35	)		6.19		(4 .54	) (e)		1,803			2 .91	(f)		1 .44	(f)		1 .44	(f)		1 .89	(f)		—
C		6.53		0.05			—		(0.35	)		(0.30	)		(0.03	)		—			—		(0.03	)		(0.33	)		6.20		(4 .62	) (e)		2,415			2 .75	(f)		1 .62	(f)		1 .62	(f)		1 .70	(f)		—
Y		6.72		0.07			—		(0.37	)		(0.30	)		(0.13	)		—			—		(0.13	)		(0.43	)		6.29		(4 .34	) (e)		21,479			1 .01	(f)		0 .90	(f)		0 .90	(f)		2 .44	(f)		—
For the Year Ended October 31, 2008
A		12.17		0.11			—		(4.34	)		(4.23	)		(0.01	)		(1.23	)		—		(1.24	)		(5.47	)		6.70		(38.30	)		16,071			1.44			1.28			1.28			0.95			194
B		11.96		0.04			—		(4.23	)		(4.19	)		—			(1.23	)		—		(1.23	)		(5.42	)		6.54		(38.65	)		2,147			2.43			1.79			1.79			0.43			—
C		11.95		0.01			—		(4.20	)		(4.19	)		—			(1.23	)		—		(1.23	)		(5.42	)		6.53		(38.68	)		2,695			2.25			1.97			1.97			0.26			—
Y		12.21		0.14			—		(4.34	)		(4.20	)		(0.06	)		(1.23	)		—		(1.29	)		(5.49	)		6.72		(38.03	)		26,779			0.88			0.88			0.88			1.34			—
For the Year Ended October 31, 2007
A		12.41		0.05			—		0.21			0.26			—			(0.50	)		—		(0.50	)		(0.24	)		12.17		2.16			39,238			1.42			1.33			1.33			0.38			209
B		12.28		(0.04	)		—		0.22			0.18			—			(0.50	)		—		(0.50	)		(0.32	)		11.96		1.51			4,322			2.35			2.01			2.01			(0.29	)		—
C		12.28		(0.04	)		—		0.21			0.17			—			(0.50	)		—		(0.50	)		(0.33	)		11.95		1.42			8,300			2.17			2.07			2.07			(0.36	)		—
Y		12.40		0.03			—		0.28			0.31			—			(0.50	)		—		(0.50	)		(0.19	)		12.21		2.58			53,873			0.84			0.83			0.83			0.83			—
For the Year Ended October 31, 2006
A		10.79		—			—		1.87			1.87			(0.01	)		(0.24	)		—		(0.25	)		1.62			12.41		17.66			47,937			1.69			1.55			1.55			(0.10	)		63
B		10.75		(0.10	)		—		1.87			1.77			—			(0.24	)		—		(0.24	)		1.53			12.28		16.79			4,137			2.67			2.30			2.30			(0.84	)		—
C		10.75		(0.09	)		—		1.86			1.77			—			(0.24	)		—		(0.24	)		1.53			12.28		16.79			7,417			2.53			2.30			2.30			(0.84	)		—
Y		10.81		0.07			—		1.81	��		1.88			(0.05	)		(0.24	)		—		(0.29	)		1.59			12.40		17.79			20,025			1.33			1.15			1.15			0.26			—
From (commencement of operations) April 29, 2005, through October 31, 2005
A(g)		10.00		—			—		0.79			0.79			—			—			—		—			0.79			10.79		7 .90	(e)		22,423			1 .67	(f)		1 .55	(f)		1 .55	(f)		(0 .08	) (f)		30
B(h)		10.00		(0.03	)		—		0.78			0.75			—			—			—		—			0.75			10.75		7 .50	(e)		1,714			2 .64	(f)		2 .30	(f)		2 .30	(f)		(0 .92	) (f)		—
C(i)		10.00		(0.03	)		—		0.78			0.75			—			—			—		—			0.75			10.75		7 .50	(e)		2,885			2 .53	(f)		2 .30	(f)		2 .30	(f)		(0 .96	) (f)		—
Y(j)		10.00		0.02			—		0.79			0.81			—			—			—		—			0.81			10.81		8 .10	(e)		541			1 .36	(f)		1 .15	(f)		1 .15	(f)		0 .37	(f)		—

(a)	Information presented relates to a share outstanding throughout the indicated period.
(b)	Assumes initial investment at net asset value at the beginning of each period, reinvestment of all distributions, the complete redemption of the investment at net asset value at the end of each period and no sales charge. Total return would be reduced if sales charges were taken into account.
(c)	Ratios do not include fees paid indirectly (See Expenses in the accompanying Notes to Financial Statements).
(d)	Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between the classes of shares issued.
(e)	Not annualized.
(f)	Annualized.
(g)	Commenced operations on April 29, 2005.
(h)	Commenced operations on April 29, 2005.
(i)	Commenced operations on April 29, 2005.
(j)	Commenced operations on April 29, 2005.

20

The Hartford Select MidCap Value Fund

Directors and Officers (Unaudited)

The Board of Directors appoints officers who are responsible for the day-to-day operations of the Fund and who execute policies formulated by the Directors. Each director serves until his or her death, resignation, or retirement or until the next annual meeting of shareholders is held or until his or her successor is elected and qualifies.

Directors and officers who are employed by or who have a financial interest in The Hartford are considered “interested” persons of the Fund pursuant to the Investment Company Act of 1940, as amended. Each officer and three of the Fund’s directors, as noted in the chart below, are “interested” persons of the Fund. Each director serves as a director for The Hartford Mutual Funds, Inc., The Hartford Mutual Funds II, Inc., The Hartford Income Shares Fund, Inc., Hartford Series Fund, Inc., and Hartford HLS Series Fund II, Inc., which collectively consist of 100 funds. Correspondence may be sent to directors and officers c/o Hartford Mutual Funds, P.O. Box 2999, Hartford, Connecticut 06104-2999, except that correspondence to Ms. Fagely may be sent to 500 Bielenberg Drive, Woodbury, Minnesota 55125.

The table below sets forth, for each director and officer, his or her name, year of birth, current position with the Fund and date first elected or appointed to The Hartford Mutual Funds, Inc. (“MF”) and The Hartford Mutual Funds II, Inc. (“MF2”), principal occupation, and, for directors, other directorships held. The Fund’s statement of additional information contains further information on the directors and is available free of charge by calling 1-888-843-7824 or writing to Hartford Mutual Funds, P.O. Box 64387, St. Paul, MN 55164-0387.

Information on the aggregate remuneration paid to the directors of the Fund can be found in the Statement of Operations herein. The Fund pays a portion of the Chief Compliance Officer’s compensation, but does not pay salaries or compensation to any of its officers or directors who are employed by The Hartford.

Non-Interested Directors

Lynn S. Birdsong (1946) Director since 2003, Co-Chairman of the Investment Committee

Mr. Birdsong is a private investor. Since 1981, Mr. Birdsong has been a partner in Birdsong Company, an advertising specialty firm. Since 2003, Mr. Birdsong has been an independent director of The Japan Fund. From 2003 to March 2005, Mr. Birdsong was an independent director of the Atlantic Whitehall Funds. From 1979 to 2002, Mr. Birdsong was a managing director of Zurich Scudder Investments, an investment management firm. During his employment with Scudder, Mr. Birdsong was an interested director of The Japan Fund.

Robert M. Gavin, Jr. (1940) Director since 2002 (MF) and 1986 (MF2), Chairman of the Board since 2004

Dr. Gavin is an educational consultant. Prior to September 1, 2001, he was President of Cranbrook Education Community and prior to July 1996, he was President of Macalester College, St. Paul, Minnesota.

Duane E. Hill (1945) Director since 2001 (MF) and 2002 (MF2), Chairman of the Nominating Committee

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

Sandra S. Jaffee (1941) Director since 2005

Ms. Jaffee is Chairman and Chief Executive Officer of Fortent (formerly Searchspace Group), a leading provider of compliance/regulatory technology to financial institutions. Ms. Jaffee served as an Entrepreneur in Residence with Warburg Pincus, a private equity firm, from August 2004 to August 2005. From September 1995 to July 2004, Ms. Jaffee served as Executive Vice President at Citigroup, where she was President and Chief Executive Officer of Citibank’s Global Securities Services (1995-2003).

William P. Johnston (1944) Director since 2005, Chairman of the Compliance Committee

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

21

The Hartford Select MidCap Value Fund
Directors and Officers (Unaudited) — (continued)

Phillip O. Peterson (1944) Director since 2002 (MF) and 2000 (MF2), Chairman of the Audit Committee

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

Lemma W. Senbet (1946) Director since 2005

Dr. Senbet is the William E. Mayer Chair Professor of Finance at the University of Maryland, Robert H. Smith School of Business. He was chair of the Finance Department during 1998-2006. Previously he was an endowed professor of finance at the University of Wisconsin-Madison. Also, he was director of the Fortis Funds from March 2000-July 2002. Dr. Senbet served the finance profession in various capacities, including as director of the American Finance Association and President of the Western Finance Association. In 2006, Dr. Senbet was inducted Fellow of Financial Management Association International for his career-long distinguished scholarship and professional service.

Interested Directors and Officers

Thomas M. Marra* (1958) Director since 2002

Mr. Marra has served as President and Chief Operating Officer of The Hartford Financial Services Group, Inc. (“The Hartford”) since 2007. Mr. Marra currently serves as Director of Hartford Life, Inc. (“HL, Inc.”). Mr. Marra served as Chief Operating Officer of Hartford Life Insurance Company, Inc. (“Hartford Life”) (2000-2008), as President of Hartford Life (2002-2008) and as Director of Hartford Life’s Investment Products Division from 1998 to 2000.

* On February 24, 2009, The Hartford and Mr. Marra determined to enter into a mutually agreed separation whereby Mr. Marra will retire, and his role as an executive officer and employee of The Hartford will terminate, effective July 3, 2009. Mr. Marra will resign his position as a Director of the Fund effective June 25, 2009.

Lowndes A. Smith (1939) Director since 2002, Co-Chairman of the Investment Committee

Mr. Smith served as Vice Chairman of The Hartford from February 1997 to January 2002, as President and Chief Executive Officer of Hartford Life, Inc. from February 1997 to January 2002, and as President and Chief Operating Officer of The Hartford Life Insurance Companies from January 1989 to January 2002. Mr. Smith serves as a Director of White Mountains Insurance Group, Ltd., One Beacon Insurance, Symetra Financial and as a Managing Director of Whittington Gray Associates.

John C. Walters* (1962) Director since 2008

Mr. Walters currently serves as Chief Executive Officer, President and Director of HL, Inc. Mr. Walters previously served as President of the U.S. Wealth Management Division of Hartford Life, Inc., as Co-Chief Operating Officer of Hartford Life Insurance Company (2007-2008) and as Executive Vice President and Director of its Investment Products Division (2000-2008). Mr. Walters also serves as Chairman of the Board, Chief Executive Officer, President and Director of Hartford Life Insurance Company and as Executive Vice President of The Hartford. In addition, Mr. Walters is Manager of HL Investment Advisors, LLC (“HL Advisors”).

* Mr. Walters previously served as President and Chief Executive Officer of the Fund (2007 – 2009).

Other Officers

Robert M. Arena, Jr. (1968) President and Chief Executive Officer since 2009 (served as Vice President of the Fund (2006 – 2009))

Mr. Arena serves as Executive Vice President of Hartford Life Insurance Company, (“Hartford Life”). Additionally, Mr. Arena is Director and Senior Vice President of Hartford Administrative Services Company, (“HASCO”), Manager, Chief Executive Officer and President of Hartford Investment Financial Services, LLC (“HIFSCO”) and HL Advisors. Prior to joining The Hartford in 2004, he was Senior Vice President in charge of Product Management for American Skandia/Prudential in the individual annuities division. Mr. Arena joined American Skandia in 1996.

Tamara L. Fagely (1958) Vice President, Treasurer and Controller since 2002 (MF) 1993 (MF2)

Ms. Fagely has been a Vice President of HASCO since 1998 and Chief Financial Officer since 2006. Currently Ms. Fagely is a Vice President of Hartford Life. She served as Assistant Vice President of Hartford Life from December 2001 through March 2005. In addition, Ms. Fagely is Controller and Chief Financial Officer of HIFSCO.

Brian Ferrell (1962) AML Compliance Officer since 2008

Mr. Ferrell has served as Assistant Vice President and AML Compliance Officer for The Hartford since 2006 and as AML Compliance Officer for HASCO and Hartford Investor Services Company, LLC (“HISC”) since 2008. Prior to joining The Hartford in 2006, Mr. Ferrell held various positions at the U.S. Department of the Treasury, (the “Treasury”), from 2001 to 2006 where he served as Chief Counsel for the Treasury’s Financial Crimes Enforcement Network, (“FinCEN”) from 2005 – 2006.

22

Thomas D. Jones, III (1965) Vice President and Chief Compliance Officer since 2006

Mr. Jones serves as Chief Compliance Officer for the Hartford Mutual Funds and Vice President and Director of Securities Compliance for The Hartford. He is also Vice President of HIFSCO, HL Advisors, and Hartford Life Insurance Company. Mr. Jones joined The Hartford in 2006 from SEI Investments, where he served as Chief Compliance Officer for its mutual funds and investment advisers. Prior to joining SEI, Mr. Jones was First Vice President and Compliance Director for Merrill Lynch Investment Managers (Americas) (“MLIM”), where he worked from 1992-2004. At MLIM, Mr. Jones was responsible for the compliance oversight of various investment products, including mutual funds, wrap accounts, institutional accounts and alternative investments.

Edward P. Macdonald (1967) Vice President, Secretary and Chief Legal Officer since 2005

Mr. Macdonald serves as Assistant General Counsel and Assistant Vice President of The Hartford and Chief Legal Officer and Vice President of HIFSCO. He also serves as Vice President and Secretary of HASCO, Assistant Vice President of Hartford Life, and Chief Legal Officer, Secretary and Vice President of HL Advisors. Prior to joining The Hartford in 2005, Mr. Macdonald was Chief Counsel, Investment Management for Prudential Financial (formerly American Skandia Investment Services, Inc.). He joined Prudential in April 1999.

Vernon J. Meyer (1964) Vice President since 2006

Mr. Meyer serves as Senior Vice President of Hartford Life and as Director of its Investment Advisory Group in the Individual Markets Group segment. He also serves as Senior Vice President of HIFSCO and HL Advisors. Prior to joining The Hartford in 2004, Mr. Meyer was with MassMutual which he joined in 1987.

D. Keith Sloane (1960) Vice President since 2009

Mr. Sloane is a Senior Vice President of Hartford Life where he serves as Director of mutual fund product management for The Hartford’s mutual funds and 529 college savings businesses. Additionally, Mr. Sloane currently serves as Senior Vice President of HIFSCO, HL Advisors, and HASCO. Prior to joining The Hartford in 2007, Mr. Sloane was Director of product marketing and led the mutual fund business for Wachovia Securities (“Wachovia”) in their investment products group. Mr. Sloane joined Wachovia in 1995.

Jane Wolak (1961) Vice President since 2009

Ms. Wolak currently serves as Vice President of Hartford Life. Ms. Wolak joined Hartford Life as Vice President, Retail Product Services in May 2007. She is also Vice President of HASCO. Previously, Ms. Wolak was with Sun Life Financial where she held the position of Vice President, Service Center Operations from 2001 – 2007.

HOW TO OBTAIN A COPY OF THE FUND’S PROXY VOTING POLICIES AND VOTING RECORDS

A description of the policies and procedures that the Fund uses to determine how to vote proxies relating to portfolio securities and a record of how the Fund voted any proxies for the twelve-month period ended June 30, 2008 is available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov.

QUARTERLY PORTFOLIO HOLDINGS INFORMATION

The Fund files a complete schedule of portfolio holdings with the Commission for the first and third quarters of each fiscal year on Form N-Q. The Fund’s Forms are available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov. The Form N-Q may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330.

23

The Hartford Select MidCap Value Fund

Expense Example (Unaudited)

Your Fund’s Expenses

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments and contingent deferred sales charges (CDSC) (2) ongoing costs including management fees; distribution fees; and other fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the period of October 31, 2008 through April 30, 2009.

Actual Expenses

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

Hypothetical Example for Comparison Purposes

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

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads) and CDSC. Therefore, the second line 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 are equal to the Fund’s annualized expense ratios multiplied by average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

	Actual return						Hypothetical (5% return before expenses)
					Expenses paid						Expenses paid					Days in
					during the period						during the period					the		Days
	Beginning		Ending Account		October 31, 2008		Beginning		Ending Account		October 31,		Annualized			current		in the
	Account Value		Value		through		Account Value		Value		2008 through		expense			1/2		full
	October 31, 2008		April 30, 2009		April 30, 2009		October 31, 2008		April 30, 2009		April 30, 2009		ratio			year		year
Class A	$	1,000.00	$	956.74	$	5.19	$	1,000.00	$	1,019.48	$	5.35		1.07	%		181		365
Class B	$	1,000.00	$	954.64	$	6.97	$	1,000.00	$	1,017.65	$	7.20		1.44			181		365
Class C	$	1,000.00	$	953.81	$	7.84	$	1,000.00	$	1,016.76	$	8.10		1.62			181		365
Class Y	$	1,000.00	$	956.58	$	4.36	$	1,000.00	$	1,020.33	$	4.50		0.90			181		365

24

The Hartford Select SmallCap Value Fund

Table of Contents

Manager Discussions (Unaudited)	2
Financial Statements
Schedule of Investments at April 30, 2009 (Unaudited)	4
Statement of Assets and Liabilities at April 30, 2009 (Unaudited)	11
Statement of Operations for the Six Month Period Ended April 30, 2009 (Unaudited)	12
Statement of Changes in Net Assets for the Six Month Period Ended April 30, 2009 (Unaudited) and the Year Ended October 31, 2008	13
Notes to Financial Statements (Unaudited)	14
Financial Highlights (Unaudited)	24
Directors and Officers (Unaudited)	25
How to Obtain a Copy of the Fund’s Proxy Voting Policies and Proxy Voting Records (Unaudited)	27
Quarterly Portfolio Holdings Information (Unaudited)	27
Expense Example (Unaudited)	28
Approval of Investment Management and Sub-Advisory Agreements (Unaudited)	29

The Hartford Select SmallCap Value Fund

(subadvised by:	Kayne Anderson Rudnick Investment Management, LLC
	Metropolitan West Capital Management, LLC
	SSgA Funds Management, Inc.

Performance Overview(1) 7/31/06 — 4/30/09
Growth of a $10,000 investment in Class A which includes Sales Charge

Russell 2000 Value Index is an unmanaged index measuring the performance of those Russell 2000 companies with lower price-to-book ratios and lower forecasted growth values.

You cannot invest directly in an index.

The value of shares will fluctuate so that, when redeemed, shares may be worth more or less than their original cost. The chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.

Investment objective – Seeks capital appreciation.

Average Annual Total Returns(2,3) (as of 4/30/09)

	Inception		1			Since
	Date		Year			Inception
Select SmallCap Value A#		7/31/06		-27.31	%		-11.04	%
Select SmallCap Value A##		7/31/06		-31.31	%		-12.86	%
Select SmallCap Value B#		7/31/06		-27.69	%		-11.73	%
Select SmallCap Value B##		7/31/06		-31.29	%		-12.63	%
Select SmallCap Value C#		7/31/06		-27.68	%		-11.69	%
Select SmallCap Value C##		7/31/06		-28.40	%		-11.69	%
Select SmallCap Value Y#		7/31/06		-27.02	%		-10.73	%

#	Without sales charge
##	With sales charge

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)	Growth of a $10,000 investment in Classes B, C and Y shares will vary from results seen above due to differences in the expenses charged to these share classes.
(2)	The initial investment in Class A shares reflects the maximum sales charge and Classes B and C reflect CDSC.
(3)	Total returns presented above were calculated using the Fund’s net asset value available to shareholders for sale or redemption of Fund shares on April 30, 2009, which excludes investment transactions as of this date.

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

Portfolio Managers
Kayne Anderson Rudnick Investment Management, LLC	Metropolitan West Capital Management, LLC	SSgA Funds Management, Inc.
Robert A. Schwarzkopf	Samir Sikka	William H. DeRoche, CFA
Chief Investment Officer	Senior Vice President	Principal
Craig Stone		Chuck Martin
Senior Research Analyst		Principal
Julie Kutasov
Senior Research Analyst

How did the Fund perform?

The Class A shares of The Hartford Select SmallCap Value Fund returned -9.70%, before sales charge, for the six-month period ended April 30, 2009, versus the -12.60% return of the Russell 2000 Value Index and -7.38% return of the average fund in the Lipper Small-Cap Value peer group.

Why did the Fund perform this way?

During the first quarter of 2009, we saw a continuation of the market trends and sentiment from the fourth quarter of last year. The focus was on “return of capital” rather than “return on capital,” as the equity markets were being driven by governmental policies and not by fundamentals. Investors’ concerns over persistent economic weakness, plunging corporate profits, and the federal response to the financial crisis drove equity prices lower during the period. Within the Russell 2000 Value Index, eight out of ten sectors posted negative returns for the period led by Energy (-30%) and Financials (-21%). Consumer Discretionary (+3%) and Information Technology (+3%) were the only positive performing sectors for the period.

2

Stock selection was the primary driver of our performance during the period. Detractors from performance included Cathay General Bancorp (Financials) and Zions Bancorp (Financials). Regional banks Cathay General and Zions both decreased on concerns over commercial real estate losses. The extreme volatility in Financials substantiates the belief that many stock prices have become completely divorced from fundamentals, as Cathay was the top performer in the second half of 2008 and Zions was in the top ten. Despite what their stock prices appear to convey, these businesses clearly haven’t changed drastically in the last few months.

World Fuel Services Corporation (Energy), Tempur-Pedic International (Consumer Discretionary) and Advanced Medical Optics (Health Care) were top relative (i.e. performance of the Fund as measured against the benchmark) performers. World Fuel Services, a company involved in the marketing and sale of marine, aviation, and land fuel products, reported record earnings in the fourth quarter 2008 and an additional 63% earnings increase in the first quarter 2009. This was largely driven by its acquisitions of Texor Petroleum Company last June and two fuel distribution businesses, Henty Oil Group and TGS Petroleum, Inc., during the past few months. Tempur-Pedic, which was one of our worst performers in 2008, boosted its gross margin and beat analysts expectations during the period due to lower costs and declining selling and marketing expenses, this in response to reduced consumer discretionary spending. Shares of eye care firm Advanced Medical Optics, the market leader in LASIK surgical devices, more than tripled during the quarter on news of a takeover bid from Abbott Laboratories.

What is the outlook?

The Federal Reserve (i.e. the “Fed”) is not yet out of tools to fight the economic slump. While short-term interest rate policy seems to be played out with the fed funds rate now targeted at 0 to 0.25 percent, there are many new levers that may be pulled. New programs aimed at unclogging credit, combined with innovative monetary and fiscal policy measures, may result in signs of improved demand as the year progresses. From the purchase of agency mortgage-backed securities to the purchase of longer-dated Treasury bonds to the offer of guarantees on credit receivables, the Fed is working diligently and rapidly to restore confidence to the financial markets.

Stock prices in relation to intrinsic value estimates remain attractive for the portfolio’s holdings. The sharp decline in equity prices during the period also created some new opportunities for the Fund.

As sufficient details emerge on the public-private partnership to remove distressed assets from banks’ balance sheets, investors’ demand for risk-taking may increase, thus setting the stage for an economic recovery, increased corporate profits and higher share prices. However, the economy is going to take time to recover from the excesses incurred during 2003 – 2007.

Currently, the Fund’s overweight (i.e. the Fund’s sector position was greater than the benchmark position) positions relative to the benchmark are in Industrials and Health Care. Conversely, the Fund’s largest underweight (i.e. the Fund’s sector position was less than the benchmark position) position relative to the benchmark continues to be in Financials. We believe that the complementary style of the three sub-advisers provides the Fund with a well positioned portfolio in this environment to add value relative to the market and its peers.

At April 30, 2009, 34% of the Fund’s assets were managed by Kayne Anderson Rudnick Investment Management, 36% were managed by Metropolitan West Capital Management and 30% were managed by SSgA Funds Management.

Diversification by Industry
as of April 30, 2009

	Percentage of
Industry	Net Assets
Automobiles & Components		0.6	%
Banks		8.0
Capital Goods		9.5
Commercial & Professional Services		7.6
Consumer Durables & Apparel		4.4
Consumer Services		3.6
Diversified Financials		4.7
Energy		5.3
Food & Staples Retailing		0.5
Food, Beverage & Tobacco		2.6
Health Care Equipment & Services		7.7
Household & Personal Products		2.9
Insurance		3.2
Materials		2.9
Media		0.6
Pharmaceuticals, Biotechnology & Life Sciences		1.0
Real Estate		4.7
Retailing		3.8
Semiconductors & Semiconductor Equipment		2.0
Software & Services		8.0
Technology Hardware & Equipment		4.3
Telecommunication Services		1.5
Transportation		3.7
Utilities		2.4
Short-Term Investments		3.8
Other Assets and Liabilities		0.7
Total		100.0	%

3

The Hartford Select SmallCap Value Fund

Schedule of Investments
April 30, 2009 (Unaudited)
(000’s Omitted)

Shares or Principal Amount		Market Value ╪
COMMON STOCK – 95.2%
	Automobiles & Components - 0.6%
14	Dana Holding Corp. •	$	11
9	Hayes Lemmerz International		2
3	Modine Manufacturing Co.		10
2	Spartan Motors, Inc		19
2	Tenneco Automotive, Inc. •		6
17	Thor Industries, Inc.		379
			427
	Banks - 7.7%
—	Ames National Corp.		7
2	Arrow Financial Corp.		55
5	Banco Latinoamericano de Exportaciones S.A. ADR Class E		59
1	Bank of the Ozarks, Inc.		17
5	Bankfinancial Corp.		49
2	Berkshire Hills Bancorp, Inc.		42
84	Boston Private Financial Holdings, Inc.		386
—	Brooklyn Federal Bancorp, Inc.		5
1	Bryn Mawr Bank Corp.		20
1	Camden National Corp.		42
77	Cathay General Bancorp		863
6	Central Pacific Financial Corp.		33
2	Citizens & Northern Corp.		47
2	City Holding Co.		59
1	Clifton Savings Bancorp, Inc.		14
5	Colonial BancGroup, Inc.		4
—	Community Bank System, Inc.		5
36	CVB Financial Corp.		213
4	Dime Community Bancshares		31
6	East West Bancorp, Inc.		44
3	First Bancorp North Carolina		39
8	First BanCorp Puerto Rico		43
2	First Bancorp, Inc.		34
7	First Commonwealth Financial Corp.		63
—	First Financial Bankshares, Inc.		10
—	First Financial Corp.		11
5	First Financial Northwest		40
2	First Merchants Corp.		19
1	First Midwest Bancorp, Inc.		6
9	First Niagara Financial Group, Inc.		126
1	First Place Financial Corp.		4
—	First Source Corp.		4
5	FirstMerit Corp.		107
6	FNB Corp.		42
4	Fox Chase Bancorp, Inc. •		36
1	Glacier BanCorp.		20
6	Guaranty Bancorp •		13
1	Hancock Holding Co.		51
9	Hanmi Financial Corp.		15
—	Harleysville National Corp.		2
—	Iberiabank Corp.		5
3	Integra Bank Corp.		6
29	International Bancshares Corp.		388
4	Kearny Financial Corp.		45
3	Lakeland Bancorp, Inc.		21
1	Lakeland Financial Corp.		15
—	MainSource Financial Group, Inc.		3
1	MB Financial, Inc.		7
—	NASB Financial, Inc.		4
5	National Penn Bancshares, Inc.		40
3	NBT Bancorp		78
5	Newalliance Bancs		65
1	Oceanfirst Financial Corp.		17
1	Ocwen Financial Corp. •		16
6	Old National Bankcorp		83
3	Oriental Financial Group, Inc.		25
3	Pacific Capital Bancorp		19
—	Pacific Continental Corp.		1
2	PacWest Bancorp		33
—	Park National Corp.		27
1	Peapack-Gladstone Financial		24
1	Pennsylvania Commerce Bancorp, Inc. •		15
1	Peoples Bancorp, Inc.		17
1	Prosperity Bancshares, Inc.		22
4	Provident Bankshares Corp.		35
6	Provident Financial Services, Inc.		69
1	Radian Group, Inc.		2
2	Renasant Corp.		23
2	Republic Bancorp, Inc.		41
2	Rockville Financial, Inc.		16
2	S&T Bancorp, Inc.		39
—	S.Y. Bancorp, Inc.		3
—	Sandy Spring Bancorp, Inc.		5
4	Santander Bancorp.		24
2	Simmons First National Corp.		57
3	South Financial Group, Inc.		5
3	Southside Bancshares, Inc.		55
2	Southwest Bancorp		12
1	Sterling Bancshares, Inc.		4
3	Sterling Financial Corp.		10
1	Suffolk Bancorp		37
1	Sun Bancorp, Inc. •		8
7	Susquehanna Bancshares, Inc.		58
58	Synovus Financial Corp.		187
3	Towne Bank		53
4	Trustco Bank Corp.		23
2	Trustmark Corp.		53
1	UMB Financial Corp.		38
6	Umpqua Holdings Corp.		61
1	United Bankshares, Inc.		19
1	United Community Banks, Inc.		9
3	United Community Financial Corp.		7
1	Univest Corp.		17
1	W Holding Co, Inc.		23
3	WesBanco, Inc.		61
—	Westamerica Banco		5
2	Wilshire Bancorp, Inc.		10
1	Wintrust Financial Corp.		24
48	Zion Bancorp		525
			5,274
	Capital Goods - 9.5%
1	A.O. Smith Corp.		30
—	American Rail Car Industries, Inc.		2
1	American Woodmark Corp.		10
—	Ameron International Corp.		6
17	AMETEK, Inc.		532
1	Ampco-Pittsburgh Corp.		17
3	Apogee Enterprises		44
1	Applied Signal Technology		29

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

4

Shares or Principal Amount		Market Value ╪
COMMON STOCKS - 95.2% - (continued)
	Capital Goods - 9.5% - (continued)
1	Arfon, Inc. •	$	19
1	Baldor Electric Co.		30
—	Beacon Roofing Supply, Inc. •		3
3	Brady Corp. Class A		54
3	Briggs & Stratton Corp.		39
1	Cascade Bancorp		20
3	Ceradyne, Inc. •		46
1	CIRCOR International, Inc.		23
30	Clarcor, Inc.		945
3	Columbus McKinnon Corp. •		32
2	Commercial Vehicles Group, Inc. •		2
1	Cubic Corp.		17
1	Ducommun, Inc.		17
3	Dycom Industries, Inc. •		24
3	DynCorp International, Inc. •		52
7	EMCOR Group, Inc. •		139
1	Encore Wire Corp.		15
1	EnerSys •		17
5	Enpro Industries, Inc. •		75
6	Federal Signal Corp.		44
2	Force Protection, Inc. •		12
3	Gibralter Industries, Inc.		19
22	Graco, Inc.		524
5	GrafTech International Ltd. •		45
3	Granite Construction, Inc.		117
1	Griffon Corp. •		10
4	GT Solar International, Inc. •		25
4	H & E Equipment Services, Inc. •		29
38	Hexcel Corp. •		365
35	Huttig Building Products, Inc. ⌂•		23
—	Insituform Technologies, Inc. •		1
1	Insteel Industries, Inc.		7
—	Integrated Electrical Services, Inc. •		2
4	Kadant, Inc. •		50
—	L.B. Foster Co. Class A•		3
1	Layne Christensen Co. •		15
23	Lincoln Electric Holdings, Inc.		1,038
9	Lydall, Inc. •		39
—	Michael Baker Corp. •		3
2	Mueller Industries, Inc.		41
6	Mueller Water Products, Inc.		24
2	NCI Building Systems, Inc. •		8
6	NN, Inc.		7
—	Perini Corp. •		7
36	Pike Electric Corp. •		374
—	Preformed Line Products Co.		7
2	Quanex Building Products Corp.		21
1	Regal-Beloit Corp.		41
1	Robbins & Myers, Inc.		17
20	Roper Industries, Inc.		894
3	Rush Enterprises, Inc. •		33
4	SauerDanfoss, Inc.		17
1	Standex International		11
—	TAL International Group, Inc.		3
2	Tecumseh Products Co. Class A •		22
1	Thermadyne Holdings Corp. •		2
5	Tredegar Corp.		89
—	Trex Co. Inc. •		4
2	Trimas Corp. •		4
—	Triumph Group, Inc.		4
2	Twin Disc, Inc.		10
5	Wabash National Corp.		6
14	Watts Water Technologies, Inc.		307
			6,563
	Commercial & Professional Services - 7.6%
66	ABM Industries, Inc.		1,156
21	ATC Technology Corp. •		339
—	CDI Corp.		2
9	Comfort Systems USA, Inc.		102
1	Consolidated Graphics, Inc. •		16
9	Copart, Inc. •		289
3	Courier Corp.		42
2	Deluxe Corp.		31
3	G & K Services, Inc. Class A		82
2	Heidrick & Struggles International, Inc.		28
3	Herman Miller, Inc.		39
3	HNI Corp.		39
8	Hudson Highland Group, Inc. •		12
4	Kelly Services, Inc.		51
—	Kforce, Inc. •		1
4	Knoll, Inc.		25
1	Korn/Ferry International •		6
2	M & F Worldwide Corp. •		30
56	McGrath RentCorp		1,178
1	MPS Group, Inc. •		11
3	On Assignment, Inc. •		10
25	Resources Connection, Inc. •		479
17	School Specialty, Inc. •		327
33	Schwak, Inc.		238
9	Spherion Corp. •		34
3	Standard Register Co.		15
2	TrueBlue, Inc. •		15
17	United Stationers, Inc. •		544
2	Viad Corp.		45
8	Waste Services, Inc. •		43
			5,229
	Consumer Durables & Apparel - - 4.4%
5	American Greetings Corp. Class A		37
—	Blyth, Inc.		9
1	Brunswick Corp.		7
4	Callaway Golf Co.		33
6	Carter’s, Inc. •		134
4	Champion Enterprises, Inc. •		2
31	Cherokee, Inc.		565
—	CSS Industries, Inc.		2
2	Hooker Furniture Corp.		28
1	Jakks Pacific, Inc. •		15
—	M/I Schottenstein Homes, Inc.		2
2	Maidenform Brands, Inc. •		23
3	Meritage Homes Corp. •		56
—	National Presto Industries, Inc.		14
3	Palm Harbor Holmes, Inc. •		9
38	RC2 Corp. •		431
3	Ryland Group, Inc.		57
1	Steven Madden Ltd. •		41
81	Tempur-Pedic International, Inc.		1,038
5	Timberland Co. Class A•		74
4	Unifirst Corp.		144
25	Volcom, Inc. •		330
			3,051

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

5

The Hartford Select SmallCap Value Fund
Schedule of Investments — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

Shares or Principal Amount		Market Value ╪
COMMON STOCKS - 95.2% - (continued)
	Consumer Services - 3.6%
1	Ameristar Casinos, Inc.	$	10
3	Bob Evans Farms, Inc.		72
22	Burger King Holdings, Inc.		359
2	California Pizza Kitchen, Inc. •		25
2	CEC Entertainment, Inc. •		70
—	Churchill Downs, Inc.		14
2	Gaylord Entertainment Co. •		33
1	Great Wolf Resorts, Inc. •		3
4	Isle of Capri Casinos, Inc. •		39
2	Jack in the Box, Inc. •		38
4	Jackson Hewitt Tax Service, Inc.		20
1	Lincoln Educational Services Corp. •		16
1	Marcus Corp.		18
31	Matthews International Corp. Class A		959
—	Monarch Casino & Resort, Inc. •		1
2	O’Charley’s, Inc.		15
2	P. F. Chang’s China Bistro, Inc. •		66
20	Papa John’s International, Inc. •		518
3	Pinnacle Entertainment, Inc. •		35
1	Red Robin Gourmet Burgers, Inc. •		12
1	Regis Corp.		27
2	Steiner Leisure Ltd. •		77
9	Stewart Enterprises, Inc.		32
1	Vail Resorts, Inc. •		23
			2,482
	Diversified Financials - 4.7%
13	Advance America Cash Advance Centers, Inc.		51
10	Apollo Investment Corp.		47
142	Ares Capital Corp.		833
1	Blackrock Kelso Capital Corp.		8
5	Broadpoint Securities Group •		20
1	Calamos Asset Management, Inc.		15
—	Capital Southwest Corp.		15
2	Cash America International, Inc.		36
6	Compass Diversified Holdings		55
4	Encore Capital Group, Inc. •		30
—	Evercore Partners, Inc.		4
42	Federated Investors, Inc.		961
3	Fifth Street Finance Corp.		19
29	Financial Federal Corp.		709
4	Hercules Technology Growth		27
7	Knight Capital Group, Inc. •		110
1	Kohlberg Capital Corp.		2
5	LaBranche & Co, Inc. •		20
3	MCG Capital Corp.		6
7	Nelnet, Inc.		41
7	Newstar Financial, Inc. •		16
4	NGP Capital Resources Co.		25
6	PennantPark Investment Corp.		32
3	Penson Worldwide, Inc. •		29
3	PHH Corp. •		42
1	Pico Holdings, Inc. •		23
—	Piper Jaffray Cos •		4
—	Prospect Capital Corp.		1
1	Stifel Financial •		36
1	SWS Group, Inc.		7
—	Virtus Investment Partners, Inc. •		5
			3,229
	Energy - 5.3%
3	Bill Barrett Corp. •		67
2	Brigham Exploration Co. •		4
1	Bristow Group, Inc. •		23
2	Cal Dive International, Inc. •		14
3	Callon Petroleum Corp. •		5
21	Carbo Ceramics, Inc.		648
4	Complete Production Services, Inc. •		25
—	Harvest Natural Resources, Inc. •		2
1	Hornbeck Offshore Services, Inc. •		23
1	Lufkin Industries, Inc.		31
11	Meridian Resource Corp. •		3
6	Newpark Resources, Inc. •		18
8	Oceaneering International, Inc. •		378
6	Pioneer Drilling Co •		29
47	Quicksilver Resources, Inc. •		378
7	Rosetta Resources, Inc. •		48
2	Superior Well Services, Inc. •		25
41	TETRA Technologies, Inc. •		235
1	Union Drilling, Inc. •		4
4	Vaalco Energy, Inc. •		18
43	World Fuel Services Corp.		1,647
			3,625
	Food & Staples Retailing - 0.5%
5	Casey’s General Stores, Inc.		123
—	Ingles Markets, Inc.		3
2	Nash Finch Co		47
4	Pantry, Inc. •		96
1	Spartan Stores, Inc.		13
1	Susser Holdings •		12
1	Village Super Market, Inc.		32
2	Winn-Dixie Stores, Inc. •		19
			345
	Food, Beverage & Tobacco - 2.6%
1	Cal-Maine Foods, Inc.		16
4	Chiquita Brands International, Inc. •		32
18	Flowers Foods, Inc.		412
—	Hain Celestial Group, Inc. •		7
16	J&J Snack Foods Corp.		609
—	Lance, Inc.		5
1	National Beverage Co. •		13
12	Ralcorp Holdings, Inc. •		664
1	TreeHouse Foods, Inc. •		29
—	Universal Corp.		9
			1,796
	Health Care Equipment & Services - 7.7%
—	Alliance Healthcare Services, Inc. •		4
9	Amedisys, Inc. •		295
4	Amerigroup Corp. •		133
56	AMN Healthcare Services, Inc. •		385
2	AmSurg Corp. •		43
1	Assisted Living Concepts I-A •		10
2	Cardiac Science Corp. •		4
6	Centene Corp. •		104
12	Chemed Corp.		500
11	Cooper Co., Inc.		302
12	Emergency Medical Services •		418
1	Gentiva Health Services, Inc. •		11
2	Greatbatch, Inc. •		37
1	HealthSouth Corp. •		10

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

6

Shares or Principal Amount		Market Value ╪
COMMON STOCKS - 95.2% - (continued)
	Health Care Equipment & Services - 7.7% - (continued)
7	Healthspring, Inc. •	$	61
9	ICU Medical, Inc. •		331
7	Invacare Corp.		103
4	Kindred Healthcare, Inc. •		57
18	Landauer, Inc.		959
—	Magellan Health Services, Inc. •		12
2	Molina Healthcare, Inc. •		47
4	NightHawk Radiology Holdings, Inc. •		15
30	Owens & Minor, Inc.		1,044
3	Rehabcare Group, Inc. •		52
2	Skilled Healthcare Group •		14
4	Universal American Financial Corp. •		36
21	Young Innovations, Inc.		321
			5,308
	Household & Personal Products - 2.9%
10	Central Garden & Pet Co. Class A •		94
16	Chattem, Inc. •		889
3	Nu Skin Enterprises, Inc. Class A		35
10	Prestige Brands Holdings, Inc. •		63
34	WD40 Co		914
			1,995
	Insurance - 3.2%
11	AMBAC Financial Group, Inc.		10
9	American Equity Investment Life Holding Co.		49
1	American Physicians Capital, Inc.		34
1	Amerisafe, Inc. •		14
3	Amtrust Financial Services		29
2	Argo Group International Holdings Ltd. •		58
6	Aspen Insurance Holdings Ltd.		150
3	CNA Surety Corp. •		55
5	Delphi Financial Group Class A		79
5	Employers Holdings, Inc.		40
3	FBL Financial Group Class A		16
6	Flagstone Reinsurance Holdings		54
—	FPIC Insurance Group, Inc. •		3
1	Greenlight Capital Re Ltd. Class A •		9
1	Harleysville Group, Inc.		32
46	Horace Mann Educators Corp.		401
2	Infinity Property & Casualty Corp.		62
4	IPC Holdings Ltd.		103
3	Max Capital Group Ltd.		45
8	Montpelier Re Holdings Ltd.		103
3	National Financial Partners Corp.		19
1	Odyssey Re Holdings Corp.		19
7	Phoenix Cos.		11
4	Platinum Underwriters Holdings Ltd.		114
3	PMA Capital Corp. Class A •		11
3	ProAssurance Corp. •		111
1	RLI Corp.		30
1	Safety Insurance Group, Inc.		38
3	Seabright Insurance Holdings •		28
26	Selective Insurance Group		384
—	Tower Group, Inc.		8
2	Validus Holdings Ltd.		48
—	Zenith National Insurance Corp.		7
			2,174
	Materials - 2.9%
4	A. Schulman, Inc.		57
1	Allied Nevada Gold Corp. •		7
17	Balchem Corp.		423
9	Buckeye Technologies, Inc. •		45
6	BWAY Holding Co. •		57
53	Glatfelter		470
5	Headwaters, Inc. •		12
7	Hecla Mining Co. •		17
2	Horsehead Holding Corp. •		12
3	Innophos Holdings, Inc.		37
1	LSB Industries, Inc. •		17
2	Minerals Technologies, Inc.		90
23	Neenah Paper, Inc.		113
7	Olin Corp.		87
2	OM Group, Inc. •		69
2	Rock Tenn Co. Class A		65
1	Rockwood Holdings, Inc. •		13
1	Royal Gold, Inc.		48
1	RTI International Metals, Inc. •		9
1	Schweitzer-Mauduit International, Inc.		14
4	Sensient Technologies Corp.		96
—	Silgan Holdings, Inc.		6
2	Solutia, Inc. •		8
8	Spartech Corp.		33
3	Stillwater Mining Co. •		14
1	Universal Stainless & Alloy Products •		14
1	W.R. Grace & Co. •		6
2	Wausau Paper Corp.		19
6	Worthington Industries, Inc.		82
			1,940
	Media - 0.6%
3	A.H. Belo Corp. Class A		5
3	Belo Corp. Class A		6
18	Central European Media Enterprises Ltd. •		295
3	Crown Media Holdings, Inc. •		9
2	Harte-Hanks, Inc.		14
5	Journal Communications, Inc.		7
12	Mediacom Communications Corp. •		69
10	RCN Corp. •		40
1	RHI Entertainment, Inc. •		4
			449
	Pharmaceuticals, Biotechnology & Life Sciences - 1.0%
—	Affymetrix, Inc. •		1
3	Albany Molecular Research, Inc. •		30
5	Bio-Rad Laboratories, Inc. Class A •		373
6	Covance, Inc. •		244
3	Maxygen, Inc. •		18
1	Valeant Pharmaceuticals International •		23
8	ViroPharma, Inc. •		44
			733
	Real Estate - 4.7%
—	Alexander’s, Inc.		22
—	American Campus Communities, Inc.		9
11	Anworth Mortgage Asset Corp.		72
14	Ashford Hospitality		43
2	Associated Estates Realty		12
3	Biomed Realty Trust, Inc.		30
9	CapLease, Inc.		28
3	Capstead Mortgage Corp.		32
5	Cedar Shopping Court		18
1	Chimera Investment Corp.		4
4	Cogdell Spencer, Inc.		24
2	Colonial Properties Trust		12

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

7

The Hartford Select SmallCap Value Fund
Schedule of Investments — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

Shares or Principal Amount		Market Value ╪
COMMON STOCKS - 95.2% - (continued)
	Real Estate - 4.7% - (continued)
2	Corporate Office Properties	$	50
3	Cousins Properties, Inc.		26
4	DCT Industrial Trust, Inc.		19
3	Diamondrock Hospitality		18
1	DuPont Fabros Technology, Inc.		5
7	Education Realty Trust, Inc.		32
56	Entertainment Properties Trust		1,283
1	Equity Lifestyle Properties, Inc.		20
6	Extra Space Storage, Inc.		44
6	Felcor Lodging Trust, Inc.		13
1	First Industrial Realty Trust, Inc.		3
6	First Potomac Realty Trust		57
—	Franklin Street Properties Corp.		4
27	Friedman Billings Ramsey Group, Inc. •		7
3	Getty Realty Corp.		62
1	Gramercy Capital Corp.		3
1	Hatteras Financial Corp.		17
6	Healthcare Realty Trust, Inc.		98
5	Highwoods Properties, Inc.		117
2	Home Properties of New York, Inc.		72
3	LaSalle Hotel Properties		39
14	Lexington Realty Trust		53
1	Maguire Properties, Inc.		1
8	Medical Properties Trust, Inc.		41
18	MFA Mortgage Investments, Inc.		103
1	Mid-America Apartment Communities, Inc.		24
1	National Health Investors, Inc.		16
7	National Retail Properties, Inc.		117
1	Omega Healthcare Investors		22
3	Parkway Properties, Inc.		42
3	Penn Real Estate Investment Trust		22
—	Potlatch Corp.		6
2	PS Business Parks, Inc.		68
9	RAIT Financial Trust		13
5	Realty Income Corp.		112
3	Redwood Trust, Inc.		52
7	Senior Housing Properties Trust		116
13	Strategic Hotels & Resorts, Inc.		11
1	Sun Communities, Inc.		19
11	Sunstone Hotel Investors, Inc.		58
6	U-Store-It		19
			3,210
	Retailing - 3.8%
3	Aaron Rents, Inc.		103
7	Blockbuster, Inc. Class A •		6
231	Borders Group, Inc. •		632
2	Brown Shoe Co., Inc.		10
5	Build-A-Bear Workshop, Inc. •		25
1	Cabela’s, Inc. •		6
1	Cato Corp.		27
2	Charming Shoppes, Inc. •		6
11	Chico’s FAS, Inc. •		82
1	Children’s Place Retail Stores, Inc. •		31
5	Collective Brands, Inc. •		71
2	Core-Mark Holding Co, Inc. •		31
4	Dillard’s, Inc.		30
3	Dress Barn, Inc. •		50
2	Genesco, Inc. •		54
21	Group 1 Automotive, Inc.		447
16	Gymboree Corp. •		533
6	Hot Topic, Inc. •		69
1	Jo-Ann Stores, Inc. •		11
1	JOS A. Bank Clothiers, Inc. •		40
5	Marinemax, Inc. •		24
3	Men’s Wearhouse, Inc.		52
1	Monroe Muffler, Inc.		13
10	New York & Co., Inc. •		59
8	Rent-A-Center, Inc. •		154
9	Retail Ventures, Inc. •		24
1	Shoe Carnival, Inc. •		16
1	Tractor Supply Co. •		32
			2,638
	Semiconductors & Semiconductor Equipment - 2.0%
1	Actel Corp. •		9
8	Applied Micro Circuits Corp. •		43
3	Brooks Automation, Inc. •		16
2	Cirrus Logic, Inc. •		11
2	Cymer, Inc. •		44
2	DSP Group, Inc. •		14
364	Entegris, Inc. •		538
—	IXYS Corp.		1
5	MKS Instruments, Inc. •		81
1	Photronics, Inc. •		1
2	PMC - Sierra, Inc. •		13
4	RF Micro Devices, Inc. •		8
1	Sigma Designs, Inc. •		15
36	Silicon Storage Technology, Inc. •		66
5	Skyworks Solutions, Inc. •		41
1	Standard Microsystems Corp. •		13
2	TriQuint Semiconductor, Inc. •		9
18	Varian Semiconductor Equipment Associates, Inc. •		461
1	Veeco Instruments, Inc. •		4
3	Zoran Corp. •		24
			1,412
	Software & Services - 8.0%
12	Acxiom Corp.		118
1	CACI International, Inc. Class A •		45
8	Cass Information Systems, Inc.		277
2	CIBER, Inc. •		7
23	Computer Services, Inc.		587
5	CSG Systems International, Inc. •		67
39	DealerTrack Holdings, Inc. •		594
3	Fair Isaac, Inc.		43
3	Global Cash Access, Inc. •		18
4	Infospace, Inc. •		27
3	Internap Network Services Corp. •		9
4	JDA Software Group, Inc. •		58
2	Limelight Networks, Inc. •		8
—	MAXIMUS, Inc.		16
47	MSC.Software Corp. •		289
2	Ness Technologies, Inc. •		8
8	OpenTV Corp. •		12
1	Parametric Technology Corp. •		14
—	Perficient, Inc. •		1
7	Perot Systems Corp. Class A •		100
3	Progress Software Corp. •		63
6	Quest Software, Inc. •		93

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

8

Shares or Principal Amount		Market Value ╪
COMMON STOCKS - 95.2% - (continued)
	Software & Services - 8.0% - (continued)
—	Rackspace Hosting, Inc. •	$	2
14	Solera Holdings, Inc. •		308
3	Sybase, Inc. •		111
52	Syntel, Inc.		1,433
20	Tibco Software, Inc. •		129
157	Unisys Corp. •		191
5	United Online, Inc. •		26
109	VeriFone Holdings, Inc. •		815
1	Vignette Corp. •		5
1	Websense, Inc. •		16
2	Wright Express Corp. •		37
			5,527
	Technology Hardware & Equipment - 4.3%
44	3Com Corp. •		179
1	Adaptec, Inc. •		3
1	ADTRAN, Inc.		23
1	Anaren Microwave, Inc. •		8
10	Arris Group, Inc. •		111
40	Avid Technology, Inc. •		438
3	Avocent Corp. •		45
11	Benchmark Electronics, Inc. •		129
2	Black Box Corp.		54
1	Cogent, Inc. •		12
4	Coherent, Inc. •		82
3	CTS Corp.		18
—	Digi International, Inc. •		4
41	Electronics for Imaging, Inc. •		402
—	EMS Technologies, Inc. •		6
1	Emulex Corp.•		8
2	Harmonic, Inc. •		12
8	Harris Stratex Networks Class A •		31
1	Hutchinson Technology, Inc. •		3
1	Hypercom Corp. •		1
6	Insight Enterprises, Inc. •		35
47	Jabil Circuit, Inc.		377
6	Methode Electronics, Inc.		37
—	MTS Systems Corp.		4
2	Netgear, Inc. •		38
9	PC-Tel, Inc.		42
23	Plexus Corp. •		510
2	Polycom, Inc. •		41
2	Quantum Corp. •		2
1	Rackable Systems, Inc. •		2
—	Rimage Corp. •		4
4	Rogers Corp. •		89
58	Sanmina-Sci Corp. •		32
1	Scansource, Inc. •		22
2	Symmetricom, Inc. •		7
3	SYNNEX Corp. •		69
6	Tekelec •		88
1	TTM Technologies, Inc. •		6
			2,974
	Telecommunication Services - 1.5%
14	Cincinnati Bell, Inc. •		38
58	General Communication, Inc. Class A •		444
2	Global Crossing Ltd •		16
17	iPCS, Inc. •		247
2	Premiere Global Services, Inc. •		25
—	Shenandoah Telecommunications Co.		4
3	Syniverse Holdings, Inc. •		42
9	TW Telecom, Inc. •		82
9	USA Mobility, Inc.		99
			997
	Transportation - 3.7%
3	Alaska Air Group, Inc. •		45
2	Arkansas Best Corp.		41
2	Atlas Air Worldwide Holdings, Inc. •		40
1	Celadon Group, Inc. •		7
24	Forward Air Corp.		392
—	Genesee & Wyoming, Inc. Class A •		9
4	Hawaiian Holdings, Inc. •		19
3	Heartland Express, Inc. •		40
9	JetBlue Airways Corp. •		46
44	Landstar System, Inc.		1,570
1	Marten Transport Ltd. •		29
6	Pacer International, Inc.		23
1	Republic Airways Holdings, Inc. •		9
4	Saia, Inc. •		59
8	SkyWest, Inc.		93
—	UAL Corp. •		1
5	US Airways Group, Inc. •		18
6	Werner Enterprises, Inc.		93
2	YRC Worldwide, Inc. •		6
			2,540
	Utilities - 2.4%
—	American States Water		10
8	Avista Corp.		117	��
1	California Water Service Group		56
1	CH Energy Group		22
1	Chesapeake Utilities Corp.		33
1	Cleco Corp.		27
29	El Paso Electric Co. •		402
2	Empire District Electric Co.		24
4	IDACORP, Inc.		107
1	Laclede Group, Inc.		21
—	MGE Energy, Inc.		12
—	New Jersey Resources Corp.		7
—	Nicor, Inc.		7
3	Northwest Natural Gas Co.		104
5	NorthWestern Corp.		105
1	Piedmont Natural Gas		27
8	Portland General Electric Co.		141
2	South Jersey Industries, Inc.		64
6	Southwest Gas Corp.		123
1	UIL Holdings Corp.		23
2	UniSource Energy Corp.		60
3	Westar Energy, Inc.		49
4	WGL Holdings, Inc.		125
			1,666
	Total common stocks    (cost $89,415)	$	65,584

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

9

The Hartford Select SmallCap Value Fund
Schedule of Investments — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

Shares or Principal Amount					Market Value ╪
PREFERRED STOCKS - 0.3%
		Banks - 0.3%
	—	East West Bancorp, Inc., 8.00%۞ ⌂			$	217
		Total preferred stocks (cost $482)			$	217
		Total long-term investments (cost $89,897)			$	65,801
SHORT-TERM INVESTMENTS - 3.8%
		Investment Pools and Funds - 3.8%
	868	Federated Investors Prime Obligations Fund			$	868
	1,731	State Street Bank Money Market Fund				1,731
						2,599
		Total short-term investments (cost $2,599)			$	2,599
		Total investments (cost $92,496)▲	99.3	%	$	68,400
		Other assets and liabilities	0.7	%		468
		Total net assets	100.0	%	$	68,868

Note:	Percentage of investments as shown is the ratio of the total market value to total net assets.
▲	At April 30, 2009, the cost of securities for federal income tax purposes was $93,263 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	2,342
Unrealized Depreciation		(27,205	)
Net Unrealized Depreciation	$	(24,863	)

•	Currently non-income producing.
۞	Convertible security.
⌂	The following securities are considered illiquid. Illiquid securities are often purchased in private placement transactions, are often not registered under the Securities Act of 1933 and may have contractual restrictions on resale. A security may also be considered illiquid if the security lacks a readily available market or if its valuation has not changed for a certain period of time.

Period	Shares/
Acquired	Par		Security	Cost Basis
04/2008		–	East West Bancorp, Inc. , 8.00%	$	482
08/2006 - 05/2007		35	Huttig Building Products, Inc.		200

The aggregate value of these securities at April 30, 2009 was $240 which represents 0.35% of total net assets.

Futures Contracts Outstanding at April 30, 2009

					Unrealized
	Number of			Expiration	Appreciation/
Description	Contracts*		Position	Month	(Depreciation)
Russell 2000 Mini		10	Long	Jun 2009	$	57

*	The number of contracts does not omit 000’s. Cash of $40 was pledged as initial margin deposit for open futures contracts at April 30, 2009.
╪	See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of securities.

FAS 157 Disclosure of Investment Valuation Hierarchy Levels

Assets:
Investment in securities — Level 1	$	68,183
Investment in securities — Level 2		217
Total	$	68,400
Other financial instruments — Level 1 *	$	57
Total	$	57

* Other financial instruments are derivative instruments not reflected in the Schedule of Investments, such as futures, forwards and swap contracts, which are valued at the unrealized appreciation/depreciation on the investment.

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

10

The Hartford Select SmallCap Value Fund

Statement of Assets and Liabilities
April 30, 2009 (Unaudited)
(000’s Omitted)

Assets:
Investments in securities, at fair value (cost $92,496)	$	68,400
Cash		46	*
Receivables:
Investment securities sold		1,746
Fund shares sold		16
Dividends and interest		69
Variation margin		3
Other assets		24
Total assets		70,304
Liabilities:
Payables:
Investment securities purchased		1,400
Investment management fees		11
Distribution fees		1
Variation margin		5
Accrued expenses		19
Total liabilities		1,436
Net assets	$	68,868
Summary of Net Assets:
Capital stock and paid-in-capital		116,486
Accumulated undistributed net investment income		196
Accumulated net realized loss on investments		(23,775	)
Unrealized depreciation of investments		(24,039	)
Net assets	$	68,868
Shares authorized		800,000
Par value	$	0.001
Class A: Net asset value per share/Maximum offering price per share	$	6.63/$7.01
Shares outstanding		2,106
Net assets	$	13,976
Class B: Net asset value per share	$	6.58
Shares outstanding		70
Net assets	$	462
Class C: Net asset value per share	$	6.60
Shares outstanding		100
Net assets	$	660
Class Y: Net asset value per share	$	6.63
Shares outstanding		8,110
Net assets	$	53,770

* Cash of $40 was designated to cover open futures contracts.

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

11

The Hartford Select SmallCap Value Fund

Statement of Operations
For the Six Month Period Ended April 30, 2009 (Unaudited)
(000’s Omitted)

Investment Income:
Dividends	$	818
Interest		12
Less: Foreign tax withheld		—
Total investment income		830
Expenses:
Investment management fees		321
Transfer agent fees		11
Distribution fees
Class A		15
Class B		2
Class C		3
Custodian fees		6
Accounting services		4
Registration and filing fees		17
Board of Directors’ fees		1
Audit fees		4
Other expenses		18
Total expenses (before waivers and fees paid indirectly)		402
Expense waivers		(2	)
Transfer agent fee waivers		(1	)
Custodian fee offset		—
Total waivers and fees paid indirectly		(3	)
Total expenses, net		399
Net investment income		431
Net Realized Loss on Investments and Other Financial Instruments:
Net realized loss on investments in securities		(11,064	)
Net realized loss on futures		(208	)
Net Realized Loss on Investments and Other Financial Instruments		(11,272	)
Net Changes in Unrealized Appreciation of Investments and Other Financial Instruments:
Net unrealized appreciation of investments		3,018
Net unrealized appreciation of futures		210
Net Changes in Unrealized Appreciation of Investments and Other Financial Instruments		3,228
Net Loss on Investments and Other Finanical Instruments		(8,044	)
Net Decrease in Net Assets Resulting from Operations	$	(7,613	)

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

12

The Hartford Select SmallCap Value Fund

Statement of Changes in Net Assets

(000’s Omitted)

	For the Six-Month
	Period Ended			For the
	April 30, 2009			Year Ended
	(Unaudited)			October 31, 2008
Operations:
Net investment income	$	431		$	1,103
Net realized loss on investments and other financial instruments		(11,272	)		(12,620	)
Net unrealized appreciation (depreciation) of investments and other financial instruments		3,228			(27,686	)
Net decrease in net assets resulting from operations		(7,613	)		(39,203	)
Distributions to Shareholders:
From net investment income
Class A		(150	)		(105	)
Class B		(1	)		—
Class C		(1	)		—
Class Y		(888	)		(775	)
From net realized gain on investments
Class A		—			(1,215	)
Class B		—			(38	)
Class C		—			(49	)
Class Y		—			(6,095	)
Total distributions		(1,040	)		(8,277	)
Capital Share Transactions:
Class A		977			2,992
Class B		36			134
Class C		46			330
Class Y		(2,825	)		11,680
Net increase (decrease) from capital share transactions		(1,766	)		15,136
Net decrease in net assets		(10,419	)		(32,344	)
Net Assets:
Beginning of period		79,287			111,631
End of period	$	68,868		$	79,287
Accumulated undistributed net investment income	$	196		$	805

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

13

The Hartford Select SmallCap Value Fund

Notes to Financial Statements
April 30, 2009 (Unaudited)
(000’s Omitted)

1.	Organization:
	The Hartford Mutual Funds, Inc. (“Company”) is an open-end management investment company comprised of fifty-two portfolios. Financial statements for The Hartford Select SmallCap Value Fund (the “Fund”), a series of the Company, are included in this report.
	The Company is organized under the laws of the State of Maryland and is registered with the Securities and Exchange Commission (“SEC”) under the Investment Company Act of 1940, as amended (“1940 Act”). The Fund is a diversified open-end management investment company.
	Class A shares are sold with a front-end sales charge of up to 5.50%. Class B shares are sold with a contingent deferred sales charge which is assessed on the lesser of the per share net asset value (“NAV”) of the shares at the time of redemption or the original purchase price, and declines from up to 5.00% to zero depending on the period of time the shares are held. Class C shares are sold with a contingent deferred sales charge of up to 1.00% on shares redeemed within twelve months of purchase. Class Y shares, which are sold to certain eligible institutional investors, are sold without a sales charge. All classes of shares have identical voting, redemption, dividend, liquidation and other rights and the same terms and conditions, with the exceptions that each class may have different expenses, which may affect performance, and except that Class B shares automatically convert to Class A shares after 8 years.
	Effective at the close of business on September 30, 2009 (the “Close Date”), no new or additional investments will be allowed in Class B shares of The Hartford Mutual Funds (including investments through any systematic investment plan). After the Close Date, existing shareholders of Class B shares may continue to hold their Class B shares, exchange their Class B shares for Class B shares of another Hartford Mutual Fund (as permitted by existing exchange privileges), and redeem their Class B shares as described in the Fund’s prospectus. Reinstatement privileges with respect to Class B shares will continue under the current policy. If you have chosen to reinvest capital gains and dividends, any such capital gains or dividends on Class B shares will continue to be reinvested in Class B shares of the Fund. For Class B shares outstanding as of the Close Date, all Class B share attributes, including the 12b-1 fee, contingent deferred sales charge schedule, and conversion to Class A shares remain unchanged.

2.	Significant Accounting Policies:
	The following is a summary of significant accounting policies of the Fund, which are in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”).

a)	Security Transactions and Investment Income — Security transactions are recorded on the trade date (the date the order to buy or sell is executed). Security gains and losses are determined on the basis of identified cost.
	Dividend income is accrued as of the ex-dividend date, except that certain dividends for foreign securities where the ex-dividend date may have passed are recorded as soon as the Fund is informed of the dividend in the exercise of reasonable diligence. Interest income, including amortization of premium and accretion of discounts, is accrued on a daily basis.
b)	Security Valuation — The Fund generally uses market prices in valuing portfolio securities. If market prices are not readily available or are deemed unreliable, the Fund will use the fair value of the security as determined in good faith under policies and procedures established by and under the supervision of the Fund’s Board of Directors. Market prices may be deemed unreliable, for example, if a security is thinly traded or if an event has occurred after the close of the security’s primary markets, but before the close of the New York Stock Exchange (the “Exchange”) (normally 4:00 p.m. Eastern Time, referred to as the “Valuation Time”) that is expected to affect the value of the portfolio security. The circumstances in which the Fund may use fair value pricing include, among others: (i) the occurrence of events that are significant to a particular issuer, such as mergers, restructuring or defaults; (ii) the occurrence of events that are significant to an entire market, such as natural disasters in a particular region or governmental actions; (iii) trading restrictions on securities; (iv) thinly traded securities and (v) market events such as trading halts and early market

14

	closings. In addition, with respect to the valuation of stocks primarily traded on foreign markets, the Fund uses a fair value pricing service approved by the Fund’s Board of Directors, which employs quantitative models that evaluate changes in the value of foreign market proxies (e.g., futures contracts, ADR’s, exchange traded funds (“ETF’s”)) after the close of the foreign markets but before the close of the Exchange. Securities that are primarily traded on foreign markets may trade on days that are not business days of the Fund. The value of the foreign securities in which the Fund invests may change on days when a shareholder will not be able to purchase or redeem shares of the Fund. Fair value pricing is subjective in nature and the use of fair value pricing by the Fund may cause the NAV of its shares to differ significantly from the NAV that would have been calculated using market prices at the close of the exchange on which a portfolio security is primarily traded but before the close of the Exchange. There can be no assurance that the Fund could obtain the fair value assigned to a security if the Fund were to sell the security at approximately the time at which the Fund determines its NAV.
	Exchange traded equity securities shall be valued at the last reported sale price on the exchange or market on which the security is primarily traded (the “Primary Market”) at the Valuation Time. If the security did not trade on the Primary Market, it may be valued at the Valuation Time at the last reported sale price on another exchange where it trades. The value of an equity security not traded on any exchange but traded on the Nasdaq Stock Market, Inc. (“Nasdaq”) or another over-the-counter market shall be valued at the last reported sale price or official closing price on the exchange or market on which the security is traded as of the Valuation Time. If it is not possible to determine the last reported sale price or official closing price on the relevant exchange or market at the Valuation Time, the value of the security shall be taken to be the most recent mean between bid and asked prices on such exchange or market at the Valuation Time.
	Options contracts on securities, currencies, indexes, futures contracts, commodities and other instruments shall be valued at their most recent sales price at the Valuation Time on the Primary Market on which the instrument is primarily traded. If the instrument did not trade on the Primary Market, it may be valued at the most recent sales price at the Valuation Time on another exchange or market where it did trade.
	Futures contracts are valued at the most recent settlement price reported by an exchange on which, over time, they are traded most extensively. If a settlement price is not available, futures contracts will be valued at the most recent trade price as of the Valuation Time. If there were no trades, the contract shall be valued at the mean of the closing bid/ask prices as of the Valuation Time.
	Financial instruments for which prices are not available from an independent pricing service are valued using market quotations obtained from one or more dealers that make markets in securities in accordance with procedures established by the Fund’s Board of Directors.
	Other derivative or contractual type instruments shall be valued using market prices if such instruments trade on an exchange or market. If such instruments do not trade on an exchange or market, such instruments shall be valued at a price at which the counterparty to such contract would repurchase the instrument. In the event that the counterparty cannot provide a price, such valuation may be determined in accordance with procedures established by the Fund’s Board of Directors.
	Investments in open-end mutual funds are valued at the respective NAV of each open-end mutual fund on the valuation date.
c)	Indexed Securities — The Fund may invest in indexed securities whose values are linked to changes in interest rates, indices, or other underlying instruments. The Fund uses these securities to increase or decrease its exposure to different underlying instruments and to gain exposure to markets that might be difficult to invest in using conventional securities. Indexed securities may be more volatile than their underlying instruments, but any loss is limited to the amount of the original investment and there may be a limit to the potential appreciation of the investment. The Fund had no investments in indexed securities as of April 30, 2009.

15

The Hartford Select SmallCap Value Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

d)	Fund Share Valuation and Dividend Distributions to Shareholders — Orders for the Fund’s shares are executed in accordance with the investment instructions of the shareholders. The NAV of the Fund’s shares is determined as of the close of each business day of the Exchange. The NAV is determined separately for each class of the Fund by dividing the Fund’s net assets attributable to that class by the number of shares of the class outstanding. Orders for the purchase of the Fund’s shares prior to the close of the Exchange on any day on which the Exchange is open for business are priced at the NAV determined as of the close of the Exchange. Orders after the close of the Exchange, or on a day on which the Exchange and/or the Fund is not open for business, are priced at the next determined NAV.
	The Fund intends to distribute substantially all of its net investment income and net realized capital gains to shareholders no less frequently than once a year. Normally, dividends from net investment income are declared and paid annually. Dividends are paid on shares beginning on the business day after the day when the funds used to purchase the shares are collected by the transfer agent for the Fund. Unless shareholders specify otherwise, all dividends will be automatically reinvested in additional full or fractional shares of the Fund.
	Distributions from net investment income, realized capital gains and capital are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP with respect to character and timing. These differences include but are not limited to foreign currency gains and losses, losses deferred due to wash sales adjustments, adjustments related to Passive Foreign Investment Companies and certain derivatives, and excise tax regulations. Permanent book and federal income tax basis differences relating to shareholder distributions will result in reclassifications to certain of the Fund’s capital accounts (see Federal Income Taxes: Reclassification of Capital Accounts footnote).
e)	Illiquid and Restricted Securities — The Fund is permitted to invest up to 15% of its net assets in illiquid securities. “Illiquid Securities” are those that may not be sold or disposed of in the ordinary course of business within seven days, at approximately the price used to determine the Fund’s NAV. The Fund may not be able to sell illiquid securities or other investments when its sub-adviser considers it desirable to do so or may have to sell such securities or investments at a price that is lower than the price that could be obtained if the securities or investments were more liquid. A sale of illiquid securities or other investments may require more time and may result in higher dealer discounts and other selling expenses than does the sale of those that are liquid. Illiquid securities and investments also may be more difficult to value, due to the unavailability of reliable market quotations for such securities or investments, and investment in them may have an adverse impact on the Fund’s NAV. The Fund may also purchase certain restricted securities, commonly known as Rule 144A securities, that can be resold to institutions and which may be determined to be liquid pursuant to policies and guidelines established by the Fund’s Board of Directors. The Fund, as shown in the Schedule of Investments, had illiquid or restricted securities as of April 30, 2009.
f)	Use of Estimates — The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and the reported amounts of income and expenses during the period. Operating results in the future could vary from the amounts derived from management’s estimates.
g)	Financial Accounting Standards Board Financial Accounting Standards No. 157 — Effective November 1, 2008, the Fund adopted Financial Accounting Standards Board (“FASB”) Statement of Financial Accounting Standards No. 157, “Fair Value Measurements” (“FAS 157”). This standard clarifies the definition of fair value for financial reporting, establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements. Fair value is defined under FAS 157 as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Under FAS 157, a fair value measurement should reflect all of the assumptions that market participants would use in pricing the asset or liability, including assumptions about the risk inherent in a particular valuation technique, the effect of a restriction on the sale or use of an asset, and the risk of nonperformance.

16

Various inputs are used in determining the value of the Fund’s investment. These inputs are summarized, per FAS 157, into three broad hierarchy levels. This hierarchy is based on whether the valuation inputs are observable or unobservable. These levels are:

• Level 1 — Quoted prices in active markets for identical securities. Level 1 includes exchange-traded instruments such as domestic equities, some foreign equities, options, futures, mutual funds, ETF’s, and rights and warrants.

• Level 2 — Observable inputs other than Level 1 prices, such as quoted prices for similar securities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the security. Level 2 includes debt securities that are traded less frequently than exchange-traded instruments and that are valued using third party pricing services and foreign equities, whose value is determined using a multi-factor regression model with inputs that are observable in the market; and money market instruments, which are carried at amortized cost.

• Level 3 — Significant unobservable inputs that are supported by little or no market activity. Level 3 includes financial instruments whose values are determined using broker quotes and require significant management judgment or estimation. This category includes broker quoted securities, long dated OTC options and securities where trading has been halted or there are certain restrictions on trading. While these securities are priced using unobservable inputs, the valuation of these securities reflects the best available data and management believes the prices are a good representation of exit price.

	Individual securities within any of the above mentioned asset classes may be assigned a different hierarchical level than those presented above, as individual circumstances dictate.
	FAS 157 also requires that a roll forward reconciliation be shown for all Level 3 securities from the beginning of the reporting period to the end of the reporting period. Part of this reconciliation includes transfers in and/or out of Level 3. For purposes of this reconciliation, transfers in are shown at the end of period fair value and transfers out are shown at the beginning of period fair value. During the six-month period ended April 30, 2009, the Fund held no Level 3 securities.
	Refer to the valuation hierarchy levels summary found following the Schedule of Investments.
	FASB Staff Position No. 157-4 — In April 2009, FASB released FASB Staff Position No. 157-4, “Determining Fair Value When the Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly” (“FSP FAS 157-4”). FSP FAS 157-4 provides additional guidance on determining whether a market for a financial asset is not active and a transaction is not distressed when measuring fair value under FAS 157. The FSP also requires additional disclosure detail on debt and equity securities by major investment categories. FSP FAS 157-4 is effective for interim and annual periods ending after June 15, 2009. At this time, management is evaluating the implications of FSP FAS 157-4 and does not believe it will impact valuation but will require additional disclosure. This additional disclosure has not yet been implemented.
h)	Financial Accounting Standards Board Financial Accounting Standards No. 161 — In March 2008, the FASB released Statement of Financial Accounting Standards No. 161, “Disclosures about Derivative Instruments and Hedging Activities” (“FAS 161”). FAS 161 requires companies to disclose information detailing the objectives and strategies for using derivative instruments, the level of derivative activity entered into by the company and any credit risk-related contingent features of the agreements. The application of FAS 161 is required for fiscal years and interim periods beginning after November 15, 2008. At this time, management is evaluating the implications of FAS 161 and has not yet implemented the new disclosure standard.
i)	Indemnifications: Under the Company’s organizational documents, the Company shall indemnify its officers and directors to the full extent required or permitted under Maryland General Corporation Law and the federal securities law. In addition, the Company, on behalf of the Fund, may enter into contracts that contain a variety of indemnifications. The

17

The Hartford Select SmallCap Value Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

Company’s maximum exposure under these arrangements is unknown. However, the Company has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote.

3. Futures and Options:

Futures and Options Transactions — The Fund may invest in futures and options contracts in order to gain exposure to or protect against changes in the market. A futures contract is an agreement between two parties to buy and sell a security at a set price on a future date. When the Fund enters into such futures contracts, it is required to deposit with a futures commission merchant an amount of “initial margin” of cash, commercial paper or U.S. Treasury Bills. Subsequent payments, called variation margin, to and from the broker, are made on a daily basis as the price of the underlying security fluctuates, making the long and short positions in the futures contract more or less valuable (i.e., mark-to-market), which results in an unrealized gain or loss to the Fund.

At any time prior to the expiration of the futures contract, the Fund may close the position by taking an opposite position, which would effectively terminate the position in the futures contract. A final determination of variation margin is then made, additional cash is required to be paid by or released to the Fund and the Fund realizes a gain or loss.

The use of futures contracts involves elements of market risk, which may exceed the amounts recognized in the Statement of Assets and Liabilities. Changes in the value of the futures contracts may decrease the effectiveness of the Fund’s strategy and potentially result in loss. The Fund, as shown on the Schedule of Investments, had outstanding futures contracts as of April 30, 2009.

The premium paid by the Fund for the purchase of a call or put option is included in the Fund’s Statement of Assets and Liabilities as an investment and subsequently “marked-to-market” through net unrealized appreciation (depreciation) of options to reflect the current market value of the option as of the end of the reporting period.

The Fund may write (sell) covered options. “Covered” means that so long as the Fund is obligated as the writer of an option, it will own either the underlying securities or currency or an option to purchase or sell the same underlying securities or currency having an expiration date of the covered option and an exercise price equal to or less than the exercise price of the covered option, or will pledge cash or other liquid securities having a value equal to or greater than the fluctuating market value of the option securities or currencies. The Fund receives a premium for writing a call or put option, which is recorded on the Fund’s Statement of Assets and Liabilities and subsequently “marked-to-market” through net unrealized appreciation (depreciation) of options. There is a risk of loss from a change in the value of such options, which may exceed the related premiums received. As of April 30, 2009, there were no outstanding written options contracts.

4. Federal Income Taxes:

a) Federal Income Taxes — For federal income tax purposes, the Fund intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code (“IRC”) by distributing substantially all of its taxable net investment income and net realized capital gains to its shareholders and otherwise complying with the requirements of regulated investment companies. The Fund has distributed substantially all of its income and capital gains in prior years and the Fund intends to distribute substantially all of its income and gains during the calendar year ending December 31, 2009. Accordingly, no provision for federal income or excise taxes has been made in the accompanying financial statements. Distributions from short-term capital gains are treated as ordinary income distributions for federal income tax purposes.

18

b) The tax character of distributions paid by the Fund for the periods indicated is as follows (as adjusted for dividends payable):

	For the Year Ended		For the Year Ended
	October 31, 2008		October 31, 2007
Ordinary Income	$	7,663	$	361
Long-Term Capital Gains *		614		12

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

As of October 31, 2008, the Fund’s components of distributable earnings (deficit) on a tax basis were as follows:

	Amount
Undistributed Ordinary Income	$	805
Accumulated Capital Losses*	$	(11,889	)
Unrealized Depreciation†	$	(27,881	)
Total Accumulated Deficit	$	(38,965	)

*	The Fund has capital loss carryforwards that are identified in the Capital Loss Carryforward note that follows.
†	The differences between book-basis and tax-basis unrealized appreciation (depreciation) are attributable to the tax deferral of wash sales losses, the mark-to-market adjustment for certain derivatives in accordance with IRC Sec. 1256, the mark to market for Passive Foreign Investment Companies and basis differences in real estate investment trusts.

c)

Reclassification of Capital Accounts — In accordance with American Institute of Certified Public Accountants (AICPA) Statement of Position 93-2, Determination, Disclosure, and Financial Statement Presentation of Income, Capital Gain, and Return of Capital Distributions by Investment Companies, the Fund has recorded reclassifications in its capital accounts. These reclassifications had no impact on the NAV of the Fund. The reclassifications are a result of permanent differences between GAAP and tax accounting for such items as net operating losses that reduce distribution requirements. Adjustments are made to reflect the impact these items have on current and future distributions to shareholders. Therefore, the source of the Fund’s distributions may be shown in the accompanying Statement of Changes in Net Assets as from net investment income, from net realized gains on investments or from capital depending on the type of book and tax differences that exist. As of October 31, 2008, the Fund recorded reclassifications to decrease undistributed net investment income by $106 and increase accumulated net realized gain by $106.

d)

Capital Loss Carryforward — At October 31, 2008 (tax-year-end), the Fund had capital loss carryforwards for U.S. federal income tax purposes of approximately:

Year	Amount
2016	$	11,889
Total	$	11,889

e) Financial Accounting Standards Board Interpretation No. 48 — On July 13, 2006, the FASB released FASB Interpretation No. 48 “Accounting for Uncertainty in Income Taxes” (“FIN 48”). FIN 48 provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. The Fund adopted FIN 48 for fiscal years beginning after December 15, 2006. Management has evaluated the implications of FIN 48 for all open tax years (tax years ended October 31, 2006 — 2008) and has determined there is no impact to the Fund’s financial statements.

19

The Hartford Select SmallCap Value Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

5. Expenses:

a)

Investment Management Agreements — Hartford Investment Financial Services, LLC (“HIFSCO”) serves as investment manager to the Fund pursuant to an Investment Management Agreement with The Hartford Mutual Funds, Inc. As investment manager, HIFSCO has overall investment supervisory responsibility for the Fund. In addition, HIFSCO provides administrative personnel, services, equipment, facilities and office space for proper operation of the Fund. HIFSCO has contracted with Kayne Anderson Rudnick Investment Management, LLC (“KAR”), Metropolitan West Capital Management, LLC (“MetWest Capital”) and SSgA Funds Management, Inc. (“SSgA FM”) for the provision of day-to-day investment management services to the Fund in accordance with the Fund’s investment objective and policies. The Fund pays a fee to HIFSCO, a portion of which may be used to compensate KAR, MetWest Capital and SSgA FM.

The schedule below reflects the rates of compensation paid to HIFSCO for investment management services rendered during the six-month period ended April 30, 2009; the rates are accrued daily and paid monthly:

Average Daily Net Assets	Annual Fee
On first $500 million		1.0000	%
On next $500 million		0.9500	%
On next $4 billion		0.9000	%
On next $5 billion		0.8975	%
Over $10 billion		0.8950	%

b) Accounting Services Agreement — Pursuant to the Fund Accounting Agreement between Hartford Life Insurance Company (“HLIC”) and the Fund, HLIC provides accounting services to the Fund and receives monthly compensation on the Fund’s average net assets. The Fund’s accounting service fees are accrued daily and paid monthly.

Average Daily Net Assets	Annual Fee
On first $5 billion		0.012	%
Over $5 billion		0.010	%

c) Operating Expenses — Allocable expenses incurred by the Company are allocated to each Fund and allocated to classes within the Fund in proportion to the average daily net assets of the Fund and each class, except where allocation of certain expenses is more fairly made directly to the Fund or to specific classes within a Fund. During the six-month period ended April 30, 2009, HIFSCO has contractually limited the total operating expenses of this Fund, exclusive of taxes, interest expense, brokerage commissions, certain distribution expenses and extraordinary expenses as follows:

Class A	Class B			Class C			Class Y
1.60%		2.35	%		2.35	%		1.20	%

20

d)	Fees Paid Indirectly — The Fund’s custodian bank has agreed to reduce its fees when the Fund maintains cash on deposit in the non-interest-bearing custody account. For the six-month period ended April 30, 2009, this amount is included in the Statement of Operations.
	The ratio of expenses to average net assets in the accompanying financial highlights excludes the reduction in expenses related to fees paid indirectly. Had the fees paid indirectly been included, the annualized expense ratio for the periods listed below would have been as follows:

	Annualized
	Six-Month
	Period			Year Ended			Year Ended			Year Ended
	Ended April			October 31,			October 31,			October 31,
	30, 2009			2008			2007			2006
Class A Shares		1.52	%		1.41	%		1.40	%		1.60	%*
Class B Shares		2.00			2.24			2.35			2.35	†
Class C Shares		2.05			2.26			2.32			2.35	‡
Class Y Shares		1.16			1.10			1.13			1.20	§

*	From July 31, 2006 (commencement of operations), through October 31, 2006
†	From July 31, 2006 (commencement of operations), through October 31, 2006
‡	From July 31, 2006 (commencement of operations), through October 31, 2006
§	From July 31, 2006 (commencement of operations), through October 31, 2006

e)	Distribution and Service Plan for Class A, B and C Shares — HIFSCO is the principal underwriter and distributor of the Fund. HIFSCO is engaged in distribution activities, which include marketing and distribution of shares through broker-dealers, financing distribution costs and maintaining financial books and records. For the six-month period ended April 30, 2009, HIFSCO received front-end load sales charges of $15 and contingent deferred sales charges of $1 from the Fund.
	The Fund has adopted Distribution and Service Plans in accordance with Rule 12b-1 of the Investment Company Act of 1940, as amended, to compensate the distributor (HIFSCO) for activities intended to result in the sale and distribution of Classes A, B and C shares and for providing services for shareholders. The Rule 12b-1 plan applicable to Class A shares of the Funds provides for payment of a Rule 12b-1 fee of up to 0.35% of average daily net assets; however, the Board of Directors has currently authorized 12b-1 payments of only up to 0.25%. Some or all of the fee may be used for shareholder servicing expenses with the remainder used for distribution expenses. Some or the entire Rule 12b-1 fee for Class B shares may be remitted to broker-dealers for distribution and/or shareholder account services. Under the Class B Plan, the Fund pays the distributor 1.00% of the average daily net assets of Class B shares that are outstanding for 8 years or less, 0.25% of which is a fee for services provided to existing shareholders with the remainder used for distribution expenses. After eight years, Class B shares convert to Class A shares. Upon conversion to Class A shares, the Class A plan described above will apply to those shares. Under the Class C Plan, the Fund pays the Distributor 1.00% of the average daily net assets of Class C shares outstanding, 0.25% of which is intended as a fee for services provided to existing shareholders with the remainder used for distribution expenses. For Class C shares, some or the entire fee may be remitted to broker-dealers for distribution and/or shareholder account services. The Fund’s 12b-1 fees are accrued daily and paid monthly.
	For the six-month period ended April 30, 2009, total sales commissions paid to affiliated brokers/dealers of The Hartford for distributing the Fund’s shares were $3. These commissions are in turn paid to sales representatives of the broker/dealers.

21

The Hartford Select SmallCap Value Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

f) Other Related Party Transactions — Certain officers of the Fund are directors and/or officers of HIFSCO and/or The Hartford or its subsidiaries. For the six-month period ended April 30, 2009, a portion of the Fund’s chief compliance officer’s salary was paid by the Fund in an amount, which rounds to zero. Hartford Administrative Services Company (“HASCO”), an indirect wholly owned subsidiary of The Hartford, provides transfer agent services to the Fund. HASCO was compensated $10 for providing such services. These fees are accrued daily and paid monthly.

6.	Affiliate Holdings:
	As of April 30, 2009, affiliates of The Hartford had ownership of shares in the Fund as follows:

	Shares
Class A		1,574
Class B		27
Class C		27

7.	Investment Transactions:
	For the six-month period ended April 30, 2009, the Fund’s aggregate purchases and sales of investment securities (excluding short-term investments) were as follows:

	Amount
Cost of Purchases Excluding U.S. Government Obligations	$	15,354
Sales Proceeds Excluding U.S. Government Obligations		17,527

8.	Capital Share Transactions:
	The following information is for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	For the Six-Month Period Ended April 30, 2009												For the Year Ended October 31, 2008
			Shares					Shares							Shares					Shares
			Issued for					Issued		Net Increase					Issued for					Issued		Net Increase
	Shares		Reinvested		Shares			from		(Decrease) of			Shares		Reinvested		Shares			from		(Decrease) of
	Sold		Dividends		Redeemed			Merger		Shares			Sold		Dividends		Redeemed			Merger		Shares
Class A
Shares		262		23		(123	)		—		162			293		127		(97	)		—		323
Amount	$	1,558	$	155	$	(736	)	$	—	$	977		$	2,539	$	1,316	$	(863	)	$	—	$	2,992
Class B
Shares		13		—		(8	)		—		5			19		4		(8	)		—		15
Amount	$	78	$	1	$	(43	)	$	—	$	36		$	175	$	36	$	(77	)	$	—	$	134
Class C
Shares		19		—		(13	)		—		6			67		5		(42	)		—		30
Amount	$	124	$	1	$	(79	)	$	—	$	46		$	610	$	49	$	(329	)	$	—	$	330
Class Y
Shares		137		137		(734	)		—		(460	)		1,452		663		(1,273	)		—		842
Amount	$	757	$	888	$	(4,470	)	$	—	$	(2,825	)	$	14,128	$	6,870	$	(9,318	)	$	—	$	11,680

The following reflects the conversion of Class B Shares into Class A Shares (reflected as Class A Shares issued and Class B shares redeemed) for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	Shares		Dollars
For the Six-Month Period Ended April 30, 2009		—	$	1
For the Year Ended October 31, 2008		1	$	9

22

9.	Line of Credit:
	The Fund is one of several Hartford Funds that participate in a $500 million committed revolving line of credit facility. The facility is to be used for temporary or emergency purposes. Under the arrangement, the Fund is required to own securities having a market value in excess of 300% of the total bank borrowings. The interest rate on borrowings varies depending on the nature of the loan. The facility also requires a fee to be paid based on the amount of the commitment. During the six-month period ended April 30, 2009, the Fund did not have any borrowings under this facility.
10.	Industry Classifications:
	Other than the industry classifications “Other Investment Pools and Funds” and “Exchange Traded Funds”, equity industry classifications used in this report are the Global Industry Classification Standard, which was developed by and is the exclusive property and service mark of MSCI, Inc. and Standard & Poor’s.

23

The Hartford Select SmallCap Value Fund

Financial Highlights — (Unaudited)

	- Selected Per-Share Data - (a)																								- Ratios and Supplemental Data -
																																			Ratio of			Ratio of			Ratio of
																																			Expenses			Expenses			Expenses
																																			to Average			to Average			to Average
																																			Net Assets			Net Assets			Net Assets
																																			Before			After			After
								Net																											Waivers			Waivers			Waivers
								Realized																											and			and			and			Ratio of
								and Un-									Distrib-								Net										Reimburse-			Reimburse-			Reimburse-			Net
			Net			Pay-		realized						Dividends			utions								Increase			Net					Net		ments and			ments and			ments and			Invest-			Port-
	Net Asset		Invest-			ments		Gain						from Net			from			Distri-					(Decrease)			Asset					Assets at		Including			Including			Excluding			ment			folio
	Value at		ment			from		(Loss) on			Total from			Invest-			Realized			butions		Total			in Net			Value at					End of		Expenses			Expenses			Expenses			Income to			Turn-
	Beginning		Income			(to)		Invest-			Investment			ment			Capital			from		Distri-			Asset			End of		Total			Period		not Subject			not Subject			not Subject			Average			over
Class	of Period		(Loss)			Affiliate		ments			Operations			Income			Gains			Capital		butions			Value			Period		Return(b)			(000’s)		to Cap(c)			to Cap(c)			to Cap(c)			Net Assets			Rate(d)
For the Six-Month Period Ended April 30, 2009 (Unaudited)
A	$	7.42	$	0.03		$	—	$	(0.74	)	$	(0.71	)	$	(0.08	)	$	—		$	—	$	(0.08	)	$	(0.79	)	$	6.63		(9.70	)%(e)	$	13,976		1.52	%(f)		1.52	%(f)		1.52	%(f)		1.04	%(f)		24	%
B		7.31		0.02			—		(0.73	)		(0.71	)		(0.02	)		—			—		(0.02	)		(0.73	)		6.58		(9.81	) (e)		462		2.80	(f)		2.00	(f)		2.00	(f)		0.57	(f)		—
C		7.32		0.02			—		(0.73	)		(0.71	)		(0.01	)		—			—		(0.01	)		(0.72	)		6.60		(9.82	) (e)		660		2.76	(f)		2.05	(f)		2.05	(f)		0.52	(f)		—
Y		7.43		0.04			—		(0.74	)		(0.70	)		(0.10	)		—			—		(0.10	)		(0.80	)		6.63		(9.33	) (e)		53,770		1.16	(f)		1.16	(f)		1.16	(f)		1.43	(f)		—
For the Year Ended October 31, 2008
A		11.79		0.07			—		(3.63	)		(3.56	)		(0.06	)		(0.75	)		—		(0.81	)		(4.37	)		7.42		(32.15	)		14,428		1.41			1.41			1.41			0.81			51
B		11.65		—			—		(3.59	)		(3.59	)		—			(0.75	)		—		(0.75	)		(4.34	)		7.31		(32.69	)		476		2.51			2.24			2.24			(0.02	)		—
C		11.66		—			—		(3.59	)		(3.59	)		—			(0.75	)		—		(0.75	)		(4.34	)		7.32		(32.66	)		685		2.48			2.26			2.26			(0.04	)		—
Y		11.80		0.10			—		(3.64	)		(3.54	)		(0.08	)		(0.75	)		—		(0.83	)		(4.37	)		7.43		(31.93	)		63,698		1.10			1.10			1.10			1.11			—
For the Year Ended October 31, 2007
A		10.96		0.07			—		0.78			0.85			—			(0.02	)		—		(0.02	)		0.83			11.79		7.78			19,106		1.40			1.40			1.40			0.67			58
B		10.93		(0.02	)		—		0.76			0.74			—			(0.02	)		—		(0.02	)		0.72			11.65		6.79			587		2.38			2.35			2.35			(0.25	)		—
C		10.93		(0.02	)		—		0.77			0.75			—			(0.02	)		—		(0.02	)		0.73			11.66		6.88			749		2.33			2.33			2.33			(0.27	)		—
Y		10.97		0.10			—		0.78			0.88			(0.03	)		(0.02	)		—		(0.05	)		0.83			11.80		8.09			91,189		1.13			1.13			1.13			0.97			—
From (commencement of operations) July 31, 2006, through October 31, 2006 (g)
A(h)		10.00		0.02			—		0.94			0.96			—			—			—		—			0.96			10.96		9.60	(e)		15,872		1.73	(f)		1.60	(f)		1.60	(f)		0.78	(f)		10
B(i)		10.00		—			—		0.93			0.93			—			—			—		—			0.93			10.93		9.30	(e)		308		2.53	(f)		2.35	(f)		2.35	(f)		0.03	(f)		—
C(j)		10.00		—			—		0.93			0.93			—			—			—		—			0.93			10.93		9.30	(e)		280		2.51	(f)		2.35	(f)		2.35	(f)		0.03	(f)		—
Y(k)		10.00		0.01			—		0.96			0.97			—			—			—		—			0.97			10.97		9.70	(e)		1,538		1.71	(f)		1.20	(f)		1.20	(f)		0.79	(f)		—

(a)	Information presented relates to a share outstanding throughout the indicated period.
(b)	Assumes initial investment at net asset value at the beginning of each period, reinvestment of all distributions, the complete redemption of the investment at net asset value at the end of each period and no sales charge. Total return would be reduced if sales charges were taken into account.
(c)	Ratios do not include fees paid indirectly (See Expenses in the accompanying Notes to Financial Statements).
(d)	Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between the classes of shares issued.
(e)	Not annualized.
(f)	Annualized.
(g)	Per share amounts have been calculated using average shares outstanding method.
(h)	Commenced operations on July 31, 2006.
(i)	Commenced operations on July 31, 2006.
(j)	Commenced operations on July 31, 2006.
(k)	Commenced operations on July 31, 2006.

24

The Hartford Select SmallCap Value Fund

Directors and Officers (Unaudited)

The Board of Directors appoints officers who are responsible for the day-to-day operations of the Fund and who execute policies formulated by the Directors. Each director serves until his or her death, resignation, or retirement or until the next annual meeting of shareholders is held or until his or her successor is elected and qualifies.

Directors and officers who are employed by or who have a financial interest in The Hartford are considered “interested” persons of the Fund pursuant to the Investment Company Act of 1940, as amended. Each officer and three of the Fund’s directors, as noted in the chart below, are “interested” persons of the Fund. Each director serves as a director for The Hartford Mutual Funds, Inc., The Hartford Mutual Funds II, Inc., The Hartford Income Shares Fund, Inc., Hartford Series Fund, Inc., and Hartford HLS Series Fund II, Inc., which collectively consist of 100 funds. Correspondence may be sent to directors and officers c/o Hartford Mutual Funds, P.O. Box 2999, Hartford, Connecticut 06104-2999, except that correspondence to Ms. Fagely may be sent to 500 Bielenberg Drive, Woodbury, Minnesota 55125.

The table below sets forth, for each director and officer, his or her name, year of birth, current position with the Fund and date first elected or appointed to The Hartford Mutual Funds, Inc. (“MF”) and The Hartford Mutual Funds II, Inc. (“MF2”), principal occupation, and, for directors, other directorships held. The Fund’s statement of additional information contains further information on the directors and is available free of charge by calling 1-888-843-7824 or writing to Hartford Mutual Funds, P.O. Box 64387, St. Paul, MN 55164-0387.

Information on the aggregate remuneration paid to the directors of the Fund can be found in the Statement of Operations herein. The Fund pays a portion of the Chief Compliance Officer’s compensation, but does not pay salaries or compensation to any of its officers or directors who are employed by The Hartford.

Non-Interested Directors

Lynn S. Birdsong* (1946) Director since 2003, Co-Chairman of the Investment Committee

Mr. Birdsong is a private investor. Since 1981, Mr. Birdsong has been a partner in Birdsong Company, an advertising specialty firm. Since 2003, Mr. Birdsong has been an independent director of The Japan Fund. From 2003 to March 2005, Mr. Birdsong was an independent director of the Atlantic Whitehall Funds. From 1979 to 2002, Mr. Birdsong was a managing director of Zurich Scudder Investments, an investment management firm. During his employment with Scudder, Mr. Birdsong was an interested director of The Japan Fund.

* Prior to May 8, 2009, Mr. Birdsong held a beneficial ownership interest in the common stock of Wells Fargo & Company (“Wells Fargo”). On October 3, 2008, Wells Fargo agreed to acquire Wachovia Corporation, a majority shareholder of Metropolitan West Capital Management, LLC (“MetWest Capital”), a sub-adviser to The Hartford Select SmallCap Value Fund. On October 20, 2008, Wells Fargo purchased preferred stock of Wachovia Corporation with a voting interest greater than 25%. On December 31, 2008, the merger was completed. As a result of these transactions, Wells Fargo may be deemed to control MetWest Capital as of October 20, 2008. Because of his prior beneficial ownership interest in Wells Fargo common stock, Mr. Birdsong was not considered to be an independent director with respect to The Hartford Select SmallCap Value Fund from October 20, 2008 to May 8, 2009.

Robert M. Gavin, Jr. (1940) Director since 2002 (MF) and 1986 (MF2), Chairman of the Board since 2004

Dr. Gavin is an educational consultant. Prior to September 1, 2001, he was President of Cranbrook Education Community and prior to July 1996, he was President of Macalester College, St. Paul, Minnesota.

Duane E. Hill (1945) Director since 2001 (MF) and 2002 (MF2), Chairman of the Nominating Committee

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

Sandra S. Jaffee (1941) Director since 2005

Ms. Jaffee is Chairman and Chief Executive Officer of Fortent (formerly Searchspace Group), a leading provider of compliance/regulatory technology to financial institutions. Ms. Jaffee served as an Entrepreneur in Residence with Warburg Pincus, a private equity firm, from August 2004 to August 2005. From September 1995 to July 2004, Ms. Jaffee served as Executive Vice President at Citigroup, where she was President and Chief Executive Officer of Citibank’s Global Securities Services (1995-2003).

25

The Hartford Select SmallCap Value Fund
Directors and Officers (Unaudited) — (continued)

William P. Johnston (1944) Director since 2005, Chairman of the Compliance Committee

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

Phillip O. Peterson (1944) Director since 2002 (MF) and 2000 (MF2), Chairman of the Audit Committee

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

Lemma W. Senbet (1946) Director since 2005

Dr. Senbet is the William E. Mayer Chair Professor of Finance at the University of Maryland, Robert H. Smith School of Business. He was chair of the Finance Department during 1998-2006. Previously he was an endowed professor of finance at the University of Wisconsin-Madison. Also, he was director of the Fortis Funds from March 2000-July 2002. Dr. Senbet served the finance profession in various capacities, including as director of the American Finance Association and President of the Western Finance Association. In 2006, Dr. Senbet was inducted Fellow of Financial Management Association International for his career-long distinguished scholarship and professional service.

Interested Directors and Officers

Thomas M. Marra* (1958) Director since 2002

Mr. Marra has served as President and Chief Operating Officer of The Hartford Financial Services Group, Inc. (“The Hartford”) since 2007. Mr. Marra currently serves as Director of Hartford Life, Inc. (“HL, Inc.”). Mr. Marra served as Chief Operating Officer of Hartford Life Insurance Company, Inc. (“Hartford Life”) (2000-2008), as President of Hartford Life (2002-2008) and as Director of Hartford Life’s Investment Products Division from 1998 to 2000.

* On February 24, 2009, The Hartford and Mr. Marra determined to enter into a mutually agreed separation whereby Mr. Marra will retire, and his role as an executive officer and employee of The Hartford will terminate, effective July 3, 2009. Mr. Marra will resign his position as a Director of the Fund effective June 25, 2009.

Lowndes A. Smith (1939) Director since 2002, Co-Chairman of the Investment Committee

Mr. Smith served as Vice Chairman of The Hartford from February 1997 to January 2002, as President and Chief Executive Officer of Hartford Life, Inc. from February 1997 to January 2002, and as President and Chief Operating Officer of The Hartford Life Insurance Companies from January 1989 to January 2002. Mr. Smith serves as a Director of White Mountains Insurance Group, Ltd., One Beacon Insurance, Symetra Financial and as a Managing Director of Whittington Gray Associates.

John C. Walters* (1962) Director since 2008

Mr. Walters currently serves as Chief Executive Officer, President and Director of HL, Inc. Mr. Walters previously served as President of the U.S. Wealth Management Division of Hartford Life, Inc., as Co-Chief Operating Officer of Hartford Life Insurance Company (2007-2008) and as Executive Vice President and Director of its Investment Products Division (2000-2008). Mr. Walters also serves as Chairman of the Board, Chief Executive Officer, President and Director of Hartford Life Insurance Company and as Executive Vice President of The Hartford. In addition, Mr. Walters is Manager of HL Investment Advisors, LLC (“HL Advisors”).

* Mr. Walters previously served as President and Chief Executive Officer of the Fund (2007 — 2009).

Other Officers

Robert M. Arena, Jr. (1968) President and Chief Executive Officer since 2009 (served as Vice President of the Fund (2006 — 2009)) Mr. Arena serves as Executive Vice President of Hartford Life Insurance Company, (“Hartford Life”). Additionally, Mr. Arena is Director and Senior Vice President of Hartford Administrative Services Company, (“HASCO”), Manager, Chief Executive Officer and President of Hartford Investment Financial Services, LLC (“HIFSCO”) and HL Advisors. Prior to joining The Hartford in 2004, he was Senior Vice President in charge of Product Management for American Skandia/Prudential in the individual annuities division. Mr. Arena joined American Skandia in 1996.

26

Tamara L. Fagely (1958) Vice President, Treasurer and Controller since 2002 (MF) 1993 (MF2)

Ms. Fagely has been a Vice President of HASCO since 1998 and Chief Financial Officer since 2006. Currently Ms. Fagely is a Vice President of Hartford Life. She served as Assistant Vice President of Hartford Life from December 2001 through March 2005. In addition, Ms. Fagely is Controller and Chief Financial Officer of HIFSCO.

Brian Ferrell (1962) AML Compliance Officer since 2008

Mr. Ferrell has served as Assistant Vice President and AML Compliance Officer for The Hartford since 2006 and as AML Compliance Officer for HASCO and Hartford Investor Services Company, LLC (“HISC”) since 2008. Prior to joining The Hartford in 2006, Mr. Ferrell held various positions at the U.S. Department of the Treasury, (the “Treasury”), from 2001 to 2006 where he served as Chief Counsel for the Treasury’s Financial Crimes Enforcement Network, (“FinCEN”) from 2005 — 2006.

Thomas D. Jones, III (1965) Vice President and Chief Compliance Officer since 2006

Mr. Jones serves as Chief Compliance Officer for the Hartford Mutual Funds and Vice President and Director of Securities Compliance for The Hartford. He is also Vice President of HIFSCO, HL Advisors, and Hartford Life Insurance Company. Mr. Jones joined The Hartford in 2006 from SEI Investments, where he served as Chief Compliance Officer for its mutual funds and investment advisers. Prior to joining SEI, Mr. Jones was First Vice President and Compliance Director for Merrill Lynch Investment Managers (Americas) (“MLIM”), where he worked from 1992-2004. At MLIM, Mr. Jones was responsible for the compliance oversight of various investment products, including mutual funds, wrap accounts, institutional accounts and alternative investments.

Edward P. Macdonald (1967) Vice President, Secretary and Chief Legal Officer since 2005

Mr. Macdonald serves as Assistant General Counsel and Assistant Vice President of The Hartford and Chief Legal Officer and Vice President of HIFSCO. He also serves as Vice President and Secretary of HASCO, Assistant Vice President of Hartford Life, and Chief Legal Officer, Secretary and Vice President of HL Advisors. Prior to joining The Hartford in 2005, Mr. Macdonald was Chief Counsel, Investment Management for Prudential Financial (formerly American Skandia Investment Services, Inc.). He joined Prudential in April 1999.

Vernon J. Meyer (1964) Vice President since 2006

Mr. Meyer serves as Senior Vice President of Hartford Life and as Director of its Investment Advisory Group in the Individual Markets Group segment. He also serves as Senior Vice President of HIFSCO and HL Advisors. Prior to joining The Hartford in 2004, Mr. Meyer was with MassMutual which he joined in 1987.

D. Keith Sloane (1960) Vice President since 2009

Mr. Sloane is a Senior Vice President of Hartford Life where he serves as Director of mutual fund product management for The Hartford’s mutual funds and 529 college savings businesses. Additionally, Mr. Sloane currently serves as Senior Vice President of HIFSCO, HL Advisors, and HASCO. Prior to joining The Hartford in 2007, Mr. Sloane was Director of product marketing and led the mutual fund business for Wachovia Securities (“Wachovia”) in their investment products group. Mr. Sloane joined Wachovia in 1995.

Jane Wolak (1961) Vice President since 2009

Ms. Wolak currently serves as Vice President of Hartford Life. Ms. Wolak joined Hartford Life as Vice President, Retail Product Services in May 2007. She is also Vice President of HASCO. Previously, Ms. Wolak was with Sun Life Financial where she held the position of Vice President, Service Center Operations from 2001 — 2007.

HOW TO OBTAIN A COPY OF THE FUND’S PROXY VOTING POLICIES AND VOTING RECORDS

A description of the policies and procedures that the Fund uses to determine how to vote proxies relating to portfolio securities and a record of how the Fund voted any proxies for the twelve-month period ended June 30, 2008 is available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov.

QUARTERLY PORTFOLIO HOLDINGS INFORMATION

The Fund files a complete schedule of portfolio holdings with the Commission for the first and third quarters of each fiscal year on Form N-Q. The Fund’s Forms are available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov. The Form N-Q may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330.

27

The Hartford Select SmallCap Value Fund

Expense Example (Unaudited)

Your Fund’s Expenses

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments and contingent deferred sales charges (CDSC) (2) ongoing costs including management fees; distribution fees; and other fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the period of October 31, 2008 through April 30, 2009.

Actual Expenses

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

Hypothetical Example for Comparison Purposes

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

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads) and CDSC. Therefore, the second line 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 are equal to the Fund’s annualized expense ratios multiplied by average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

	Actual return						Hypothetical (5% return before expenses)
					Expenses paid						Expenses paid					Days in
					during the period						during the period					the		Days
	Beginning		Ending Account		October 31, 2008		Beginning		Ending Account		October 31,		Annualized			current		in the
	Account Value		Value		through		Account Value		Value		2008 through		expense			1/2		full
	October 31, 2008		April 30, 2009		April 30, 2009		October 31, 2008		April 30, 2009		April 30, 2009		ratio			year		year
Class A	$	1,000.00	$	903.01	$	7.17	$	1,000.00	$	1,017.25	$	7.60		1.52	%		181		365
Class B	$	1,000.00	$	901.93	$	9.43	$	1,000.00	$	1,014.87	$	9.99		2.00			181		365
Class C	$	1,000.00	$	901.75	$	9.66	$	1,000.00	$	1,014.62	$	10.24		2.05			181		365
Class Y	$	1,000.00	$	906.66	$	5.48	$	1,000.00	$	1,019.04	$	5.80		1.16			181		365

28

The Hartford Select SmallCap Value Fund

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

On October 3, 2008, Wachovia Corporation (“Wachovia”), the indirect parent company of Metropolitan West Capital Management, LLC (“MetWest Capital”) and Wells Fargo & Company (“Wells Fargo”) announced that Wells Fargo had agreed to purchase Wachovia. MetWest Capital is a sub-adviser to The Hartford Select SmallCap Value Fund (the “Fund”). Wachovia and Wells Fargo entered into an Agreement and Plan of Merger on October 3, 2008 that provides for Wachovia to merge into Wells Fargo, with Wells Fargo as the surviving corporation (the “Merger”). In connection with the Merger, Wachovia and Wells Fargo entered into a Share Exchange Agreement on October 3, 2008. Under the Share Exchange Agreement, Wachovia agreed to issue preferred shares to Wells Fargo representing a 39.9% voting interest in Wachovia. Wachovia issued the preferred shares to Wells Fargo after the close of business on October 20, 2008.

Due to its ownership of preferred shares, Wells Fargo may be deemed to control MetWest Capital. If Wells Fargo is deemed to control MetWest Capital, then the existing investment sub-advisory agreement between Hartford Investment Financial Services, LLC (“HIFSCO”) and MetWest Capital (the “Original Agreement”) with respect to the Fund would have terminated automatically in connection with the issuance of preferred shares. To address this possibility, at a special telephonic meeting held on October 20, 2008, the Board of Directors (the “Board”), including each of the Independent Directors, unanimously voted to terminate the Original Agreement and approve an interim investment sub-advisory agreement between HIFSCO and MetWest Capital (the “Interim Agreement”) with respect to the Fund in reliance on Rule 15a-4 under the Investment Company Act of 1940, as amended. The Interim Agreement became effective upon the issuance of the preferred shares and was in effect until the Board formally approved a new investment sub-advisory agreement at an in-person meeting held on November 6, 2008 (the “New Agreement”).

In approving both the Interim Agreement and the New Agreement, the Board relied on information previously provided by HIFSCO and MetWest Capital in connection with the annual contract review on August 5-6, 2008, and the information provided to the Board at the October 20, 2008 and November 6, 2008 meetings, including information relating to the nature, extent, and quality of the services to be provided by HIFSCO and MetWest Capital; the investment performance of the Fund and MetWest Capital; the costs of the services to be provided and profitability of HIFSCO and MetWest Capital; comparisons of fees and services provided by HIFSCO and MetWest Capital; and the extent to which economies of scale would be realized as the Fund grows and whether fee levels reflect these economies of scale for the benefit of Fund investors. The Board noted that the Interim Agreement and the New Agreement were substantially identical to the Original Agreement, including in each case with respect to fees payable to MetWest Capital. In addition, at the October 20, 2008 and November 6, 2008 meetings, the Board received information concerning both the issuance of the preferred shares and the Merger. In this regard, the Board noted the assurances by MetWest Capital to HIFSCO that neither the issuance of preferred shares nor the Merger would affect the day-to-day management of the Fund or the personnel responsible for the management of the Fund, and that the sub-advisory services provided by MetWest Capital will not change in any material way as a result of the change of control.

Based on these considerations, the Board concluded that it is in the best interests of the Fund and its shareholders to approve the Interim Agreement and the New Agreement. The Board based its decisions to approve the Interim Agreement and the New Agreement on the totality of the circumstances and other relevant factors. In connection with their deliberations, the Independent Directors were advised by independent legal counsel, and considered their responsibilities under relevant laws and regulations.

29

The Hartford Short Duration Fund

Table of Contents

Manager Discussions (Unaudited)	2
Financial Statements
Schedule of Investments at April 30, 2009 (Unaudited)	4
Statement of Assets and Liabilities at April 30, 2009 (Unaudited)	10
Statement of Operations for the Six Month Period Ended April 30, 2009 (Unaudited)	11
Statement of Changes in Net Assets for the Six Month Period Ended April 30, 2009 (Unaudited) and the Year Ended October 31, 2008	12
Notes to Financial Statements (Unaudited)	13
Financial Highlights (Unaudited)	22
Directors and Officers (Unaudited)	23
How to Obtain a Copy of the Fund’s Proxy Voting Policies and Proxy Voting Records (Unaudited)	25
Quarterly Portfolio Holdings Information (Unaudited)	25
Expense Example (Unaudited)	26

The Hartford Short Duration Fund

(subadvised by Hartford Investment Management Company)

Performance Overview(1) 10/31/02 — 4/30/09
Growth of a $10,000 investment in Class A which includes Sales Charge

Barclays Capital 1-3 Year U.S. Government/Credit Index is an unmanaged index comprised of the U.S. Government/Credit component of the U.S. Aggregate Index. The 1-3 Year Government/Credit Index includes securities in the 1-3 year maturity range in the Government/Credit Index.

You cannot invest directly in an index.

Investment objective — Seeks to provide a high level of income.

Average Annual Total Returns(2,3) (as of 4/30/09)

	Inception		1			5			Since
	Date		Year			Year			Inception
Short Duration A#		10/31/02		-0.98	%		1.65	%		2.12	%
Short Duration A##		10/31/02		-3.95	%		1.03	%		1.64	%
Short Duration B#		10/31/02		-1.72	%		0.89	%		1.37	%
Short Duration B##		10/31/02		-6.50	%		0.54	%		1.37	%
Short Duration C#		10/31/02		-1.72	%		0.91	%		1.39	%
Short Duration C##		10/31/02		-2.67	%		0.91	%		1.39	%
Short Duration Y#		11/28/03		-0.65	%		1.92	%		2.00	%

#	Without sales charge
##	With sales charge
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
(1)	Growth of a $10,000 investment in Classes B, C and Y shares will vary from results seen above due to differences in the expenses charged to these share classes.
(2)	The initial investment in Class A shares reflects the maximum sales charge and Classes B and C reflect CDSC.
(3)	Total returns presented above were calculated using the Fund’s net asset value available to shareholders for sale or redemption of Fund shares on April 30, 2009, which excludes investment transactions as of this date.

The value of shares will fluctuate so that, when redeemed, shares may be worth more or less than their original cost. The chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.

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

Portfolio Managers
Robert Crusha, CFA	Brian Dirgins, CFA
Vice President	Senior Vice President

How did the Fund perform?

The Class A shares of The Hartford Short Duration Fund returned 0.94%, before sales charge, for the six-month period ended April 30, 2009, versus the 4.65% return of its benchmark, the Barclays Capital 1-3 Year U.S. Government/Credit Index, and the 0.76% average return of the Lipper Short Investment Grade Debt Funds category, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

The primary drivers of the Fund’s underperformance, relative (i.e. performance of the Fund as measured against the benchmark) to the benchmark, were duration (a measure of interest-rate sensitivity) positioning and sector allocations. The duration of the Fund was shorter than the benchmark, and declines in the yields of the 2 year Treasury and the 5 year Treasury negatively impacted performance over the period.

Out of benchmark sector allocations to asset backed securities (ABS) and commercial mortgage backed securities (CMBS) were a drag on returns for the period as investors grew more pessimistic regarding the outlook for the consumer. Concerns regarding commercial property valuations also drove spread in these sectors wider (i.e. short and long term interest rates farther apart). The ongoing concerns regarding the outlook for the global economy also weighed heavily on spread sectors in general. However, in the latter part of the period the CMBS position recovered somewhat and we began to see some improvement in performance.

A significant overweight (i.e. the Fund’s sector position was greater than the benchmark position) to investment grade corporates was additive to performance relative to the benchmark for the period. Although an underweight (i.e. the Fund’s sector position was less than the benchmark position) to U.S. agencies

2

detracted from performance, this was more than offset by the aforementioned allocation to investment grade corporates. Our underweight to U.S. treasuries also added to performance.

Our positions in ABS, investment grade corporates and CMBS remain the primary drivers of portfolio yield. The underweight to U.S. treasuries and agencies in favor of the aforementioned sectors, have resulted in significant enhanced yield relative to the benchmark.

What is the outlook?

We will continue to actively manage the interest rate duration of the Fund in line with market pricing as the market begins to look for further signs of life in the economy. It will be paramount that we look for signals from the Federal Open Market Committee (The Fed) as to the timing of future increases in interest rates though it is clear that this will not occur until the Fed is comfortable that any economic recovery is truly sustainable. With respect to the individual sectors, we will continue to be judicious in adding further to risk. We believe that the Investment Grade Sector provides good relative value and we expect to continue to add, selectively, to this sector. Our focus will remain on those issuers whose balance sheets and cash flow best protect bondholder interest. Diversification will also remain an important theme.

Distribution by Credit Quality

as of April 30, 2009

	Percentage of
	Long Term
Rating	Holdings
AAA		31.4	%
AA		15.5
A		28.8
BBB		22.6
BB		0.7
B		0.3
CCC		0.4
Not Rated		0.3
Total		100.0	%

Diversification by Industry
as of April 30, 2009

	Percentage of
Industry	Net Assets
Basic Materials		1.9	%
Capital Goods		2.5
Consumer Cyclical		2.0
Consumer Staples		3.2
Energy		3.5
Finance		47.8
Foreign Governments		0.5
Health Care		5.2
Services		4.2
Technology		8.3
Transportation		1.5
U.S. Government Agencies		3.4
U.S. Government Securities		7.6
Utilities		0.8
Short-Term Investments		6.8
Other Assets and Liabilities		0.8
Total		100.0	%

3

The Hartford Short Duration Fund

Schedule of Investments
April 30, 2009 (Unaudited)
(000’s Omitted)

Shares or Principal Amount			Market Value ╪
ASSET & COMMERCIAL MORTGAGE BACKED SECURITIES - 26.5%
		Finance - 26.5%
		American Express Credit Account Master Trust
$	32	0.95%, 02/15/2012 ■Δ	$	31
		AmeriCredit Automobile Receivables Trust
	829	4.47%, 01/12/2012		832
	600	5.04%, 05/06/2011		584
	210	5.21%, 10/06/2011 ⌂		208
	575	5.42%, 08/08/2011		565
		Banc of America Securities Automotive Trust
	1,500	4.49%, 02/18/2013 ⌂		1,478
		Bayview Commercial Asset Trust
	363	1.44%, 01/25/2035 ⌂Δ		178
	6,021	7.00%, 07/25/2037 ⌂►		331
	10,963	7.18%, 01/25/2037 ⌂►†		926
	10,106	7.50%, 09/25/2037 ⌂►		899
		Bayview Financial Acquisition Trust
	987	4.91%, 02/25/2033 ⌂		925
	2,000	5.64%, 11/28/2036 ⌂		730
		Bear Stearns Asset Backed Securities, Inc.
	622	5.16%, 09/25/2033 ⌂		354
		Bear Stearns Commercial Mortgage Securities, Inc.
	18,959	4.12%, 11/11/2041 ⌂►		340
	48,676	4.65%, 02/11/2041 ⌂►		361
	105,630	6.25%, 12/11/2040 ⌂►		265
		Capital Automotive Receivables Asset Trust
	800	5.55%, 01/18/2011		777
	200	5.77%, 05/20/2010 ⌂		197
	225	6.15%, 04/20/2011 ⌂		219
	1,000	6.35%, 03/17/2014 ⌂		657
		Capital One Multi-Asset Execution Trust
	1,000	1.75%, 03/15/2013 Δ		989
		Capital One Prime Automotive Receivables Trust
	1,000	5.68%, 06/10/2011 ⌂		618
		Carmax Automotive Owner Trust
	1,000	6.12%, 07/15/2013 ⌂		738
		CBA Commercial Small Balance Commercial Mortgage
	18,977	5.69%, 12/25/2036 ⌂►†		741
	18,476	7.00%, 07/25/2035 - 06/25/2038 ⌂►†		1,231
	10,027	9.75%, 01/25/2039 ⌂ ►		1,003
		Chase Commercial Mortgage Securities Corp.
	2,105	7.63%, 07/15/2032 Δ		2,146
		Citibank Credit Card Issuance Trust
	2,000	0.70%, 01/09/2012 Δ		1,844
		Citicorp Residential Mortgage Securities
	100	6.27%, 06/25/2037 Δ		70
		CNH Equipment Trust
	750	4.93%, 12/17/2012 ⌂		656
		Commercial Mortgage Pass-Through Certificates
	1,500	1.01%, 12/15/2020 ⌂Δ		226
	2,352	3.59%, 03/10/2039 ⌂►		33
		Countrywide Asset-Backed Certificates
	1,500	5.57%, 11/25/2035 †		377
	1,000	5.71%, 11/25/2035		145
		CS First Boston Mortgage Securities Corp.
	9,826	4.17%, 07/15/2036 ⌂►		127
		DaimlerChrysler Automotive Trust
	800	4.48%, 08/08/2014		636
	800	5.14%, 09/08/2012		756
		Equity One ABS, Inc.
	20	2.94%, 07/25/2034 ⌂Δ		1
		Ford Credit Automotive Owner Trust
	657	5.07%, 12/15/2010		663
	2,924	5.29%, 04/15/2011 ⌂		2,863
	750	5.48%, 09/15/2011 ⌂		727
	500	5.68%, 06/15/2012 ⌂		396
	1,000	5.69%, 11/15/2012 ⌂		777
		GE Capital Commercial Mortgage Corp.
	6,573	3.76%, 03/10/2040 ■►		71
		GMAC Mortgage Corp. Loan Trust
	954	4.59%, 04/25/2033 ⌂		670
	195	5.12%, 04/25/2033 ⌂		78
	715	5.75%, 10/25/2036 ⌂		413
		Goldman Sachs Automotive Loan Trust
	4	4.98%, 11/15/2013 ⌂		3
		Goldman Sachs Mortgage Securities Corp. II
	1,748	4.32%, 10/10/2028		1,735
	14,833	4.38%, 08/10/2038 ⌂►		92
		Green Tree Financial Corp.
	3	7.30%, 01/15/2026		3
		Hasco NIM Trust
	35	6.25%, 12/26/2035 ⌂•		—
		Hyundai Automotive Receivables Trust
	224	4.45%, 02/15/2012 ⌂		223
		JP Morgan Chase Commercial Mortgage Securities Corp.
	1,181	1.20%, 02/15/2020 ⌂Δ		293
	2,000	3.84%, 01/12/2039		1,827
	11,463	4.65%, 10/15/2037 ■►		99
	32,691	4.82%, 08/12/2037 ►		75
	939	5.34%, 05/12/2045		935
		LaSalle Commercial Mortgage Securities
	15,983	6.20%, 09/20/2043 ⌂►		280
		LB-UBS Commercial Mortgage Trust
	79	3.63%, 10/15/2029		79
	1,419	4.25%, 12/15/2036 ■►		16
		Lehman Brothers Small Balance Commercial
	1,014	6.77%, 09/27/2036 ⌂†		234
		Long Beach Asset Holdings Corp.
	180	5.78%, 04/25/2046 ⌂•		—
		Marlin Leasing Receivables LLC
	233	5.09%, 08/15/2012 ⌂		233
	1,600	5.33%, 09/16/2013 ■		1,575
	235	5.63%, 09/16/2013 ⌂		212
		MBNA Credit Card Master Note Trust
	550	6.80%, 07/15/2014 ⌂		419
		Merrill Lynch Mortgage Trust
	13,344	3.81%, 08/12/2039 ⌂►		215
	16,394	3.96%, 10/12/2041 ⌂►		265
	22,718	4.67%, 09/12/2042 ⌂►		150
	1,470	5.53%, 05/12/2039 Δ		1,469
		Morgan Stanley Capital I
	1	3.96%, 06/15/2040		1
		Morgan Stanley Dean Witter Capital I
	79	5.38%, 01/15/2039		79
		Nationstar Home Equity Loan Trust
	13	9.97%, 03/25/2037 ⌂Δ		—
		North Street Referenced Linked Notes
	1,000	1.74%, 07/27/2010 ⌂Δ		500
	500	2.09%, 04/28/2011 ⌂†Δ		234

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

4

Shares or Principal Amount			Market Value ╪
		Ocwen Advance Receivables Backed Notes
	1,500	5.34%, 11/24/2015 ⌂		960
		Renaissance Home Equity Loan Trust
	675	7.00%, 09/25/2037 ⌂		31
	405	7.50%, 04/25/2037 ⌂		16
	108	9.79%, 04/25/2037 ⌂•		1
		Structured Asset Investment Loan Trust
	254	3.06%, 11/25/2033 ⌂Δ		77
		Structured Asset Securities Corp.
	450	2.94%, 02/25/2037 ⌂Δ		8
	400	2.94%, 01/25/2037 ⌂†Δ		11
		Swift Master Automotive Receivables Trust
	1,000	1.90%, 10/15/2012 ⌂Δ		400
		USAA Automotive Owner Trust
	1,560	4.16%, 04/16/2012		1,582
	860	5.07%, 06/15/2013		892
	1,000	5.66%, 03/15/2013 ⌂		780
		Wachovia Automotive Loan Owner Trust
	1,700	5.42%, 04/21/2014 ⌂		957
	1,000	5.54%, 12/20/2012 ⌂		726
		Wachovia Bank Commercial Mortgage Trust
	17	3.48%, 08/15/2041		17
		Washington Mutual Master Note Trust
	1,500	0.83%, 10/15/2013 ⌂Δ		1,287
		Washington Mutual, Inc.
	17,125	7.00%, 11/23/2043 ⌂►		497
		Wells Fargo Home Equity Trust
	1,856	0.74%, 04/25/2034 Δ		946
		WFS Financial Owner Trust
	1,091	4.76%, 05/17/2013 ⌂		806
				51,092
		Total asset & commercial mortgage backed securities (cost $67,296)	$	51,092
CERTIFICATES OF DEPOSIT - 0.7%
		Finance - 0.7%
		Comerica Bank,
$	1,350	0.53%, 8/7/2009Δ	$	1,344
		Total certificates of deposit (cost $1,348,000)	$	1,344
CORPORATE BONDS: INVESTMENT GRADE - 54.2%
		Basic Materials - 1.9%
		Alcan, Inc.
$	750	6.45%, 03/15/2011	$	730
		BHP Billiton Finance USA Ltd.
	500	5.50%, 04/01/2014		527
		Xstrata Finance Dubai Ltd.
	2,500	1.58%, 11/13/2009 ■Δ		2,453
				3,710
		Capital Goods - 2.5%
		Deere & Co.
	534	7.85%, 05/15/2010		553
		Honeywell International, Inc.
	1,092	4.25%, 03/01/2013		1,134
		Northrop Grumman Corp.
	1,000	7.13%, 02/15/2011		1,064
		United Technologies Corp.
	987	6.10%, 05/15/2012		1,054
		Xerox Corp.
	1,000	7.13%, 06/15/2010		1,010
				4,815
		Consumer Cyclical - 2.0%
		DaimlerChrysler NA Holdings Corp.
	600	5.88%, 03/15/2011		593
		Kroger Co.
	750	7.25%, 06/01/2009		752
	750	8.05%, 02/01/2010		774
		SABMiller plc
	510	1.51%, 07/01/2009 ■Δ		510
		Safeway, Inc.
	700	4.95%, 08/16/2010		717
	500	7.50%, 09/15/2009		509
				3,855
		Consumer Staples - 3.2%
		Altria Group, Inc.
	500	7.75%, 02/06/2014		536
		Clorox Co.
	1,000	6.13%, 02/01/2011		1,044
		Coca-Cola Co.
	1,000	3.63%, 03/15/2014		1,021
		Diageo Capital plc
	1,460	7.25%, 11/01/2009		1,486
		PepsiCo, Inc.
	1,000	3.75%, 03/01/2014		1,020
		Unilever Capital Corp.
	1,000	7.13%, 11/01/2010		1,074
				6,181
		Energy - 3.5%
		Anadarko Petroleum Corp.
	500	1.72%, 09/15/2009 Δ		499
		Chevron Corp.
	1,000	3.45%, 03/03/2012		1,029
		Devon Energy Corp.
	1,100	6.88%, 09/30/2011		1,170
		Enterprise Products Operating L.P.
	1,275	7.50%, 02/01/2011		1,310
		Hess Corp.
	500	7.00%, 02/15/2014		542
		Marathon Oil Corp.
	267	6.50%, 02/15/2014		277
		Shell International Finance B.V.
	1,000	4.00%, 03/21/2014		1,031
	500	5.63%, 06/27/2011		537
		Statoilhydro ASA
	391	3.88%, 04/15/2014		396
				6,791
		Finance - 20.6%
		Aetna, Inc.
	890	7.88%, 03/01/2011		942
		American Express Credit Corp.
	1,700	0.53%, 11/09/2009 Δ		1,657
		BAE Systems Holdings, Inc.
	1,000	6.40%, 12/15/2011 ■		1,053
		BB&T Corp.
	500	5.70%, 04/30/2014		492
		Berkshire Hathaway Finance Corp.
	1,000	4.00%, 04/15/2012 ■		1,016
		BP Capital Markets plc
	1,000	3.13%, 03/10/2012		1,015
		Capital One Financial Corp.
	1,000	1.57%, 09/10/2009 Δ		974
		Caterpillar Financial Services Corp.
	900	1.34%, 08/20/2010 Δ		871
	1,000	4.15%, 01/15/2010		1,014
		CIT Group, Inc.
	750	1.36%, 08/17/2009 Δ		683

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

5

The Hartford Short Duration Fund
Schedule of Investments — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

Shares or Principal Amount			Market Value ╪
		Countrywide Financial Corp.
	2,000	1.68%, 05/07/2012 Δ		1,651
	79	4.50%, 06/15/2010		76
	162	5.80%, 06/07/2012		149
		Countrywide Home Loans, Inc.
	98	4.00%, 03/22/2011		92
		Credit Suisse First Boston USA, Inc.
	2,000	4.13%, 01/15/2010		2,019
		First Union National Bank Commercial Mortgage
	1,500	7.80%, 08/18/2010		1,534
		FleetBoston Financial Corp.
	1,500	7.38%, 12/01/2009		1,515
		General Electric Capital Corp.
	1,500	6.13%, 02/22/2011		1,557
		Goldman Sachs Group, Inc.
	200	1.31%, 12/23/2009 Δ		197
	1,270	1.32%, 11/16/2009 Δ		1,253
	500	1.70%, 03/15/2011		504
	243	6.00%, 05/01/2014		243
		HSBC Bank USA
	2,000	3.88%, 09/15/2009		1,982
		John Deere Capital Corp.
	600	1.41%, 10/16/2009 Δ		599
		JP Morgan Chase & Co.
	810	6.75%, 02/01/2011		840
		Key Bank NA
	250	1.33%, 11/03/2009 Δ		247
		Merrill Lynch & Co., Inc.
	2,000	1.33%, 03/23/2010 Δ		1,900
	720	1.35%, 12/04/2009 Δ		698
		Morgan Stanley
	1,200	0.59%, 05/07/2010 Δ		1,127
	375	1.34%, 05/07/2010 Δ		352
		National City Bank of Ohio
	1,000	1.21%, 01/21/2010 Δ		979
	500	4.50%, 03/15/2010		501
		National Westminster Bank
	1,130	7.38%, 10/01/2009		1,106
		Prudential Financial, Inc.
	1,000	5.10%, 12/14/2011		874
		Sovereign Bancorp, Inc.
	2,000	1.46%, 03/23/2010 Δ		1,859
		State Street Bank & Trust Co.
	500	1.85%, 03/15/2011		502
		SunTrust Banks, Inc.
	500	7.75%, 05/01/2010		505
		UnitedHealth Group, Inc.
	1,000	1.41%, 06/21/2010 Δ		980
		Wellpoint, Inc.
	500	4.25%, 12/15/2009		503
	525	5.00%, 01/15/2011		532
		Wells Fargo & Co.
	500	2.13%, 06/15/2012		504
	2,673	7.55%, 06/21/2010		2,758
				39,855
		Foreign Governments - 0.5%
		Quebec (Province of)
	1,000	6.13%, 01/22/2011		1,062
		Health Care - 5.2%
		AstraZeneca plc
	1,000	5.40%, 09/15/2012		1,074
		Cardinal Health, Inc.
	2,000	1.46%, 10/02/2009 Δ		1,970
		CVS Caremark Corp.
	2,685	1.56%, 06/01/2010 Δ		2,634
		Eli Lilly & Co.
	1,164	3.55%, 03/06/2012		1,195
		Pfizer, Inc.
	1,000	4.45%, 03/15/2012		1,051
		Roche Holdings, Inc.
	1,000	4.50%, 03/01/2012 ■		1,049
		Wyeth
	1,000	6.95%, 03/15/2011		1,073
				10,046
		Services - 4.2%
		Allied Waste North America, Inc.
	1,000	5.75%, 02/15/2011		1,005
		Comcast Corp.
	1,490	1.44%, 07/14/2009 Δ		1,489
		Time Warner, Inc.
	2,520	1.46%, 11/13/2009 Δ		2,503
		United Parcel Service, Inc.
	1,000	3.88%, 04/01/2014		1,031
		Walt Disney Co.
	1,120	1.19%, 07/16/2010 Δ		1,120
		Waste Management, Inc.
	1,000	6.88%, 05/15/2009		1,001
				8,149
		Technology - 8.3%
		AT&T, Inc.
	684	4.13%, 09/15/2009		691
	1,000	5.88%, 02/01/2012		1,055
		Cisco Systems, Inc.
	1,000	5.25%, 02/22/2011		1,063
		Comcast Cable Communications, Inc.
	1,000	6.75%, 01/30/2011		1,053
		Deutsche Telekom International Finance B.V.
	1,000	8.50%, 06/15/2010 Δ		1,051
		Embarq Corp.
	1,000	6.74%, 06/01/2013		965
		France Telecom S.A.
	1,000	7.75%, 03/01/2011 Δ		1,083
		IBM Corp.
	1,000	4.95%, 03/22/2011		1,056
		Lockheed Martin Corp.
	1,500	8.20%, 12/01/2009		1,530
		Oracle Corp.
	1,000	5.00%, 01/15/2011		1,054
		Raytheon Co.
	1,000	4.85%, 01/15/2011		1,034
		Telecom Italia Capital
	750	4.00%, 01/15/2010		745
		Telefonica Europe B.V.
	1,000	7.75%, 09/15/2010		1,050
		Verizon Wireless
	1,500	5.25%, 02/01/2012 ■		1,553
		Vodafone Group plc
	1,000	7.75%, 02/15/2010		1,037
				16,020
		Transportation - 1.5%
		Canadian National Railway Co.
	1,379	4.25%, 08/01/2009		1,379
		Norfolk Southern Corp.
	365	8.63%, 05/15/2010		381

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

6

Shares or Principal Amount					Market Value ╪
		Union Pacific Corp.
	500	6.65%, 01/15/2011				527
	540	7.38%, 09/15/2009				549
						2,836
		Utilities - 0.8%
		Ohio Power Co.
	1,500	1.35%, 04/05/2010 Δ				1,478
		Total corporate bonds: investment grade (cost $105,134)			$	104,798
U.S. GOVERNMENT AGENCIES - 3.4%
		Federal Home Loan Mortgage Corporation - 1.3%
$	2,500	6.00%, 09/15/2032			$	2,553
		Federal National Mortgage Association - 1.2%
	2,288	5.50%, 05/25/2014				2,357
		Government National Mortgage Association - 0.9%
	1,610	6.50%, 05/16/2031				1,734
		Total U.S. government agencies (cost$6,490)			$	6,644
U.S. GOVERNMENT SECURITIES - 7.6%
		U.S. Treasury Notes - 7.6%
$	5,450	1.50%, 10/31/2010			$	5,512
	5,235	1.75%, 03/31/2014				5,176
	317	1.88%, 02/28/2014				316
	3,555	2.00%, 09/30/2010				3,622
						14,626
		Total U.S. government securities (cost $14,572)			$	14,626
		Total long-term investments (cost $194,840)			$	178,504
SHORT-TERM INVESTMENTS - 6.8%
		Consumer Cyclical - 0.5%
		Staples, Inc.
$	851	0.83%, 5/27/2009			$	850
		Repurchase Agreements - 6.3%
		BNP Paribas Securities Corp. Repurchase Agreement (maturing on 05/01/2009 in the amount of $9,571, collateralized by U.S. Treasury Bond 5.38%, 2031, value of $9,751)
$	9,571	0.15%, 04/30/2009			$	9,571
		UBS Securities, Inc. Repurchase Agreement (maturing on 05/01/2009 in the amount of $2,677, collateralized by U.S. Treasury Bond 7.50%, 2024, value of $2,738)
	2,677	0.13%, 04/30/2009				2,677
						12,248
		Total short-term investments (cost $13,098)			$	13,098
		Total investments (cost $207,938)▲	99.2	%	$	191,602
		Other assets and liabilities	0.8	%		1,634
		Total net assets	100 .0	%	$	193,236

Note:	Percentage of investments as shown is the ratio of the total market value to total net assets. Market value of investments in foreign securities represents 9.46% of total net assets at April 30, 2009.
▲	At April 30, 2009, the cost of securities for federal income tax purposes was $207,950 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	3,249
Unrealized Depreciation		(19,597	)
Net Unrealized Depreciation	$	(16,348	)

†	The aggregate value of securities valued in good faith at fair value as determined under policies and procedures established by and under the supervision of the Fund’s Board of Directors at April 30, 2009, was $3,754, which represents 1.94% of total net assets.
•	Currently non-income producing. For long-term debt securities, items identified are in default as to payment of interest and/or principal.
Δ	Variable rate securities; the rate reported is the coupon rate in effect at April 30, 2009.
■	Securities issued within terms of a private placement memorandum, exempt from registration under Rule 144A under the Securities Act of 1933, as amended, and may be sold only to qualified institutional buyers. Pursuant to guidelines adopted by the Board of Directors, these issues are determined to be liquid. The aggregate value of these securities at April 30, 2009, was $9,426, which represents 4.88% of total net assets.
►	The interest rates disclosed for interest only strips represent effective yields based upon estimated future cash flows at April 30, 2009.
⌂	The following securities are considered illiquid. Illiquid securities are often purchased in private placement transactions, are often not registered under the Securities Act of 1933 and may have contractual restrictions on resale. A security may also be considered illiquid if the security lacks a readily available market or if its valuation has not changed for a certain period of time.

Period		Shares/
Acquired		Par		Security	Cost Basis
	04/2008	$	210	AmeriCredit Automobile Receivables Trust, 5.21%, 10/06/2011	$	209
	06/2005	$	1,500	Banc of America Securities Automotive Trust, 4.49%, 02/18/2013		1,500
	12/2004	$	363	Bayview Commercial Asset Trust, 1.44%, 01/25/2035 - 144A		363
��	05/2007 - 02/2009	$	6,021	Bayview Commercial Asset Trust, 7.00%, 07/25/2037 - 144A		846
	12/2006	$	10,963	Bayview Commercial Asset Trust, 7.18%, 01/25/2037 - 144A		1,085
	08/2007	$	10,106	Bayview Commercial Asset Trust, 7.50%, 09/25/2037 - 144A		1,394
	11/2006	$	987	Bayview Financial Acquisition Trust, 4.91%, 02/25/2033 - 144A		968
	11/2006	$	2,000	Bayview Financial Acquisition Trust, 5.64%, 11/28/2036		2,000

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

7

The Hartford Short Duration Fund
Schedule of Investments — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

Period		Shares/
Acquired		Par		Security	Cost Basis
	08/2006	$	622	Bear Stearns Asset Backed Securities, Inc., 5.16%, 09/25/2033		610
	12/2004	$	18,959	Bear Stearns Commercial Mortgage Securities, Inc., 4.12%, 11/11/2041		352
	03/2005 - 08/2007	$	48,676	Bear Stearns Commercial Mortgage Securities, Inc., 4.65%, 02/11/2041		386
	12/2005	$	105,630	Bear Stearns Commercial Mortgage Securities, Inc., 6.25%, 12/11/2040 - 144A		386
	08/2006	$	200	Capital Automotive Receivables Asset Trust, 5.77%, 05/20/2010 - 144A		200
	08/2006	$	225	Capital Automotive Receivables Asset Trust, 6.15%, 04/20/2011 - 144A		225
	09/2007	$	1,000	Capital Automotive Receivables Asset Trust, 6.35%, 03/17/2014 - 144A		1,000
	09/2007	$	1,000	Capital One Prime Automotive Receivables Trust, 5.68%, 06/10/2011		1,000
	09/2007	$	1,000	Carmax Automotive Owner Trust, 6.12%, 07/15/2013		1,000
	10/2007 - 11/2007	$	18,977	CBA Commercial Small Balance Commercial Mortgage, 5.69%, 12/25/2036		—
	04/2006	$	18,476	CBA Commercial Small Balance Commercial Mortgage, 7.00%, 07/25/2035 - 06/25/2038 - 144A		377
	11/2006 - 08/2007	$	10,027	CBA Commercial Small Balance Commercial Mortgage, 9.75%, 01/25/2039 - 144A		882
	09/2005	$	750	CNH Equipment Trust, 4.93%, 12/17/2012		750
	10/2006	$	1,500	Commercial Mortgage Pass-Through Certificates, 1.01%, 12/15/2020 - 144A		1,500
	03/2004 - 08/2006	$	2,352	Commercial Mortgage Pass-Through Certificates, 3.59%, 03/10/2039 - 144A		38
	08/2004 - 08/2006	$	9,826	CS First Boston Mortgage Securities Corp., 4.17%, 07/15/2036 - 144A		139
	07/2004	$	20	Equity One ABS, Inc., 2.94%, 07/25/2034		20
	02/2006 - 05/2007	$	2,924	Ford Credit Automotive Owner Trust, 5.29%, 04/15/2011		2,925
	02/2006	$	750	Ford Credit Automotive Owner Trust, 5.48%, 09/15/2011		750
	08/2006	$	500	Ford Credit Automotive Owner Trust, 5.68%, 06/15/2012		500
	10/2007	$	1,000	Ford Credit Automotive Owner Trust, 5.69%, 11/15/2012		1,000
	10/2006	$	954	GMAC Mortgage Corp. Loan Trust, 4.59%, 04/25/2033		941
	03/2007	$	195	GMAC Mortgage Corp. Loan Trust, 5.12%, 04/25/2033		193
	09/2007	$	715	GMAC Mortgage Corp. Loan Trust, 5.75%, 10/25/2036		679
	08/2005	$	4	Goldman Sachs Automotive Loan Trust, 4.98%, 11/15/2013		3
	07/2004	$	14,833	Goldman Sachs Mortgage Securities Corp. II, 4.38%, 08/10/2038 - 144A		99
	03/2006 - 03/2009	$	35	Hasco NIM Trust, 6.25%, 12/26/2035 - 144A		35
	06/2005	$	224	Hyundai Automotive Receivables Trust, 4.45%, 02/15/2012		224
	03/2006	$	1,181	JP Morgan Chase Commercial Mortgage Securities Corp., 1.20%, 02/15/2020 - 144A		1,180
	12/2006 - 08/2007	$	15,983	LaSalle Commercial Mortgage Securities, 6.20%, 09/20/2043 - 144A		467
	09/2006 - 07/2007	$	1,014	Lehman Brothers Small Balance Commercial, 6.77%, 09/27/2036 - 144A		1,013
	03/2006	$	180	Long Beach Asset Holdings Corp., 5.78%, 04/25/2046 - 144A		181
	08/2005 - 12/2006	$	233	Marlin Leasing Receivables LLC, 5.09%, 08/15/2012 - 144A		233
	09/2006	$	235	Marlin Leasing Receivables LLC, 5.63%, 09/16/2013 - 144A		235
	08/2007	$	550	MBNA Credit Card Master Note Trust, 6.80%, 07/15/2014		555
	09/2004	$	13,344	Merrill Lynch Mortgage Trust, 3.81%, 08/12/2039 - 144A		231
	11/2004 - 08/2006	$	16,394	Merrill Lynch Mortgage Trust, 3.96%, 10/12/2041 - 144A		304
	03/2005	$	22,718	Merrill Lynch Mortgage Trust, 4.67%, 09/12/2042		134
	04/2007	$	13	Nationstar Home Equity Loan Trust, 9.97%, 03/25/2037 - 144A		13
	10/2006 - 11/2006	$	1,000	North Street Referenced Linked Notes, 1.74%, 07/27/2010 - 144A		978
	11/2006	$	500	North Street Referenced Linked Notes, 2.09%, 04/28/2011 - 144A		472
	11/2006	$	1,500	Ocwen Advance Receivables Backed Notes, 5.34%, 11/24/2015 - 144A		1,500
	08/2007	$	675	Renaissance Home Equity Loan Trust, 7.00%, 09/25/2037		479
	03/2007	$	405	Renaissance Home Equity Loan Trust, 7.50%, 04/25/2037		354
	03/2007	$	108	Renaissance Home Equity Loan Trust, 9.79%, 04/25/2037 - 144A		108
	06/2005	$	254	Structured Asset Investment Loan Trust, 3.06%, 11/25/2033		257
	03/2007	$	400	Structured Asset Securities Corp., 2.94%, 01/25/2037 - 144A		396
	03/2007	$	450	Structured Asset Securities Corp., 2.94%, 02/25/2037		444
	10/2007	$	1,000	Swift Master Automotive Receivables Trust, 1.90%, 10/15/2012		1,000
	08/2006	$	1,000	USAA Automotive Owner Trust, 5.66%, 03/15/2013		1,000

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

8

Period		Shares/
Acquired		Par		Security	Cost Basis
	09/2006	$	1,700	Wachovia Automotive Loan Owner Trust, 5.42%, 04/21/2014 - 144A		1,700
	10/2006	$	1,000	Wachovia Automotive Loan Owner Trust, 5.54%, 12/20/2012 - 144A		1,000
	11/2006	$	1,500	Washington Mutual Master Note Trust, 0.83%, 10/15/2013 - 144A		1,500
	11/2006	$	17,125	Washington Mutual, Inc., 7.00%, 11/23/2043 - 144A		717
	07/2005 - 09/2007	$	1,091	WFS Financial Owner Trust, 4.76%, 05/17/2013		1,090

The aggregate value of these securities at April 30, 2009 was $29,276 which represents 15.15% of total net assets. As a result of securities being reclassified from liquid to illiquid, the Fund exceeded its 15% illiquid security limitation. Consequently, the Fund is temporarily restricted from purchasing additional illiquid securities.

╪ See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of securities.

FAS 157 Disclosure of Investment Valuation Hierarchy Levels

Assets:
Investment in securities — Level 2		179,062
Investment in securities — Level 3		12,540
Total	$	191,602

Following is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value:

Assets:
Securities:
Balance as of October 31, 2008	$	19,239
Net realized loss		(1,584	)
Change in unrealized depreciation ♦		(4,106	)
Net sales		(255	)
Transfers in and /or out of Level 3		(754	)
Balance as of April 30, 2009	$	12,540

♦ Change in unrealized gains or losses relating to assets still held at April 30, 2009 $ (3,742 )

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

9

The Hartford Short Duration Fund

Statement of Assets and Liabilities
April 30, 2009 (Unaudited)
(000’s Omitted)

Assets:
Investments in securities, at fair value (cost $207,938)	$	191,602
Cash		1
Receivables:
Investment securities sold		202
Fund shares sold		1,375
Dividends and interest		1,638
Other assets		44
Total assets		194,862
Liabilities:
Payables:
Investment securities purchased		943
Fund shares redeemed		580
Investment management fees		14
Dividends		44
Distribution fees		9
Accrued expenses		36
Total liabilities		1,626
Net assets	$	193,236
Summary of Net Assets:
Capital stock and paid-in-capital		213,216
Accumulated undistributed net investment income		61
Accumulated net realized loss on investments		(3,705	)
Unrealized depreciation of investments		(16,336	)
Net assets	$	193,236
Shares authorized		300,000
Par value	$	0.001
Class A: Net asset value per share/Maximum offering price per share	$	9.13/$9.41
Shares outstanding		7,151
Net assets	$	65,314
Class B: Net asset value per share	$	9.13
Shares outstanding		858
Net assets	$	7,838
Class C: Net asset value per share	$	9.14
Shares outstanding		3,352
Net assets	$	30,625
Class Y: Net asset value per share	$	9.12
Shares outstanding		9,810
Net assets	$	89,459

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

10

The Hartford Short Duration Fund

Statement of Operations
For the Six Month Period Ended April 30, 2009 (Unaudited)
(000’s Omitted)

Investment Income:
Interest	$	4,141
Total investment income		4,141
Expenses:
Investment management fees		411
Transfer agent fees		65
Distribution fees
Class A		66
Class B		33
Class C		136
Custodian fees		2
Accounting services		16
Registration and filing fees		28
Board of Directors’ fees		2
Audit fees		4
Other expenses		31
Total expenses (before waivers and fees paid indirectly)		794
Expense waivers		(17	)
Custodian fee offset		—
Total waivers and fees paid indirectly		(17	)
Total expenses, net		777
Net investment income		3,364
Net Realized Loss on Investments:
Net realized loss on investments in securities		(563	)
Net Realized Loss on Investments		(563	)
Net Changes in Unrealized Depreciation of Investments:
Net unrealized depreciation of investments		(910	)
Net Changes in Unrealized Depreciation of Investments		(910	)
Net Loss on Investments		(1,473	)
Net Increase in Net Assets Resulting from Operations	$	1,891

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

11

The Hartford Short Duration Fund

Statement of Changes in Net Assets

(000’s Omitted)

	For the Six-Month
	Period Ended			For the
	April 30, 2009			Year Ended
	(Unaudited)			October 31, 2008
Operations:
Net investment income	$	3,364		$	8,317
Net realized loss on investments		(563	)		(750	)
Net unrealized depreciation of investments		(910	)		(13,330	)
Net increase (decrease) in net assets resulting from operations		1,891			(5,763	)
Distributions to Shareholders:
From net investment income
Class A		(962	)		(1,537	)
Class B		(95	)		(173	)
Class C		(398	)		(771	)
Class Y		(1,953	)		(5,747	)
Total distributions		(3,408	)		(8,228	)
Capital Share Transactions:
Class A		19,030			14,905
Class B		2,034			(131	)
Class C		4,101			6,112
Class Y		(17,285	)		(25,523	)
Net increase (decrease) from capital share transactions		7,880			(4,637	)
Net increase (decrease) in net assets		6,363			(18,628	)
Net Assets:
Beginning of period		186,873			205,501
End of period	$	193,236		$	186,873
Accumulated undistributed net investment income	$	61		$	105

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

12

The Hartford Short Duration Fund

Notes to Financial Statements

April 30, 2009 (Unaudited)

(000’s Omitted)

1.	Organization:
	The Hartford Mutual Funds, Inc. (“Company”) is an open-end management investment company comprised of fifty-two portfolios. Financial statements for The Hartford Short Duration Fund (the “Fund”), a series of the Company, are included in this report.
	The Company is organized under the laws of the State of Maryland and is registered with the Securities and Exchange Commission (“SEC”) under the Investment Company Act of 1940, as amended (“1940 Act”). The Fund is a diversified open-end management investment company.
	Class A shares are sold with a front-end sales charge of up to 4.50%. Class B shares are sold with a contingent deferred sales charge which is assessed on the lesser of the per share net asset value (“NAV”) of the shares at the time of redemption or the original purchase price, and declines from up to 5.00% to zero depending on the period of time the shares are held. Class C shares are sold with a contingent deferred sales charge of up to 1.00% on shares redeemed within twelve months of purchase. Class Y shares, which are sold to certain eligible institutional investors, are sold without a sales charge. All classes of shares have identical voting, redemption, dividend, liquidation and other rights and the same terms and conditions, with the exceptions that each class may have different expenses, which may affect performance, and except that Class B shares automatically convert to Class A shares after 8 years.
	Effective at the close of business on September 30, 2009 (the “Close Date”), no new or additional investments will be allowed in Class B shares of The Hartford Mutual Funds (including investments through any systematic investment plan). After the Close Date, existing shareholders of Class B shares may continue to hold their Class B shares, exchange their Class B shares for Class B shares of another Hartford Mutual Fund (as permitted by existing exchange privileges), and redeem their Class B shares as described in the Fund’s prospectus. Reinstatement privileges with respect to Class B shares will continue under the current policy. If you have chosen to reinvest capital gains and dividends, any such capital gains or dividends on Class B shares will continue to be reinvested in Class B shares of the Fund. For Class B shares outstanding as of the Close Date, all Class B share attributes, including the 12b-1 fee, contingent deferred sales charge schedule, and conversion to Class A shares remain unchanged.

2.	Significant Accounting Policies:
	The following is a summary of significant accounting policies of the Fund, which are in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”).

a)	Security Transactions and Investment Income — Security transactions are recorded on the trade date (the date the order to buy or sell is executed). Security gains and losses are determined on the basis of identified cost.
	Interest income, including amortization of premium and accretion of discounts, is accrued on a daily basis.
b)	Security Valuation — The Fund generally uses market prices in valuing portfolio securities. If market prices are not readily available or are deemed unreliable, the Fund will use the fair value of the security as determined in good faith under policies and procedures established by and under the supervision of the Fund’s Board of Directors. Market prices may be deemed unreliable, for example, if a security is thinly traded or if an event has occurred after the close of the security’s primary markets, but before the close of the New York Stock Exchange (the “Exchange”) (normally 4:00 p.m. Eastern Time, referred to as the “Valuation Time”) that is expected to affect the value of the portfolio security. The circumstances in which the Fund may use fair value pricing include, among others: (i) the occurrence of events that are significant to a particular issuer, such as mergers, restructuring or defaults; (ii) the occurrence of events that are significant to an entire market, such as natural disasters in a particular region or governmental actions; (iii) trading restrictions on securities; (iv) thinly traded securities and (v) market events such as trading halts and early market closings.

13

The Hartford Short Duration Fund

Notes to Financial Statements — (continued)

April 30, 2009 (Unaudited)

(000’s Omitted)

	Debt securities (other than short-term obligations) held by the Fund are valued on the basis of valuations furnished by an independent pricing service which determines valuations for normal institutional size trading units of debt securities. Securities for which prices are not available from an independent pricing service are valued using market quotations obtained from one or more dealers that make markets in the securities in accordance with procedures established by the Fund’s Board of Directors. Generally, the Fund may use fair valuation in regard to debt securities when the Fund holds defaulted or distressed securities or securities in a company in which a reorganization is pending. Short-term investments with a maturity of more than 60 days when purchased are valued based on market quotations until the remaining days to maturity become less than 61 days. Investments that mature in 60 days or less are valued at amortized cost, which approximates market value.
	Securities of foreign issuers and non-dollar securities are translated from the local currency into U.S. dollars using prevailing exchange rates.
	Financial instruments for which prices are not available from an independent pricing service are valued using market quotations obtained from one or more dealers that make markets in securities in accordance with procedures established by the Fund’s Board of Directors.
	Other derivative or contractual type instruments shall be valued using market prices if such instruments trade on an exchange or market. If such instruments do not trade on an exchange or market, such instruments shall be valued at a price at which the counterparty to such contract would repurchase the instrument. In the event that the counterparty cannot provide a price, such valuation may be determined in accordance with procedures established by the Fund’s Board of Directors.
c)	Joint Trading Account — Pursuant to an exemptive order issued by the SEC, the Fund may transfer uninvested cash balances into a joint trading account managed by Hartford Investment Management Company (“Hartford Investment Management”). These balances may be invested in one or more repurchase agreements and/or short-term money market instruments.
d)	Repurchase Agreements — A repurchase agreement is an agreement by which the seller of a security agrees to repurchase the security sold at a mutually agreed upon time and price. At the time the Fund enters into a repurchase agreement, the value of the underlying collateral security(ies), including accrued interest, will be equal to or exceed the value of the repurchase agreement. Securities that serve to collateralize the repurchase agreement are held by the Fund’s custodian in book entry or physical form in the custodial account of the Fund or in a third party custodial account. Repurchase agreements are valued at cost plus accrued interest. The Fund, as shown on the Schedule of Investments, had outstanding repurchase agreements as of April 30, 2009.
e)	Fund Share Valuation and Dividend Distributions to Shareholders — Orders for the Fund’s shares are executed in accordance with the investment instructions of the shareholders. The NAV of the Fund’s shares is determined as of the close of each business day of the Exchange. The NAV is determined separately for each class of the Fund by dividing the Fund’s net assets attributable to that class by the number of shares of the class outstanding. Orders for the purchase of the Fund’s shares prior to the close of the Exchange on any day on which the Exchange is open for business are priced at the NAV determined as of the close of the Exchange. Orders after the close of the Exchange, or on a day on which the Exchange and/or the Fund is not open for business, are priced at the next determined NAV.
	The Fund intends to distribute substantially all of its net investment income and net realized capital gains to shareholders no less frequently than once a year. Normally, dividends from net investment income are declared daily and paid monthly. Dividends are paid on shares beginning on the business day after the day when the funds used to purchase the shares are collected by the transfer agent for the Fund. Unless shareholders specify otherwise, all dividends will be automatically reinvested in additional full or fractional shares of the Fund.

14

	Distributions from net investment income, realized capital gains and capital are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP with respect to character and timing. These differences include but are not limited to foreign currency gains and losses, losses deferred due to wash sales adjustments, adjustments related to Passive Foreign Investment Companies and certain derivatives, and excise tax regulations. Permanent book and federal income tax basis differences relating to shareholder distributions will result in reclassifications to certain of the Fund’s capital accounts (see Federal Income Taxes: Reclassification of Capital Accounts footnote).
f)	Illiquid and Restricted Securities — The Fund is permitted to invest up to 15% of its net assets in illiquid securities. “Illiquid Securities” are those that may not be sold or disposed of in the ordinary course of business within seven days, at approximately the price used to determine the Fund’s NAV. The Fund may not be able to sell illiquid securities or other investments when its sub-adviser considers it desirable to do so or may have to sell such securities or investments at a price that is lower than the price that could be obtained if the securities or investments were more liquid. A sale of illiquid securities or other investments may require more time and may result in higher dealer discounts and other selling expenses than does the sale of those that are liquid. Illiquid securities and investments also may be more difficult to value, due to the unavailability of reliable market quotations for such securities or investments, and investment in them may have an adverse impact on the Fund’s NAV. The Fund may also purchase certain restricted securities, commonly known as Rule 144A securities, that can be resold to institutions and which may be determined to be liquid pursuant to policies and guidelines established by the Fund’s Board of Directors. The Fund, as shown in the Schedule of Investments, had illiquid or restricted securities as of April 30, 2009.
g)	Securities Purchased on a When-Issued or Delayed-Delivery Basis — Delivery and payment for securities that have been purchased by the Fund on a forward commitment, or when-issued or delayed-delivery basis take place beyond the customary settlement period. During this period, such securities are subject to market fluctuations, and the Fund identifies securities segregated in its records with value at least equal to the amount of the commitment. As of April 30, 2009, the Fund had no outstanding when-issued or forward commitments.
h)	Credit Risk — Credit risk depends largely on the perceived financial health of bond issuers. In general, the credit rating is inversely related to the credit risk of the issuer. Higher rated bonds generally are deemed to have less credit risk, while lower or unrated bonds are deemed to have higher risk of default. The share price, yield and total return of a Fund which holds securities with higher credit risk may fluctuate more than with less aggressive bond funds.
i)	Prepayment Risks ��� Most senior floating rate interests and certain debt securities allow for prepayment of principal without penalty. Senior floating rate interests and securities subject to prepayment risk generally offer less potential for gains when interest rates decline, and may offer a greater potential for loss when interest rates rise. In addition, with respect to securities, rising interest rates may cause prepayments to occur at a slower than expected rate, thereby effectively lengthening the maturity of the security and making the security more sensitive to interest rate changes. Prepayment risk is a major risk of mortgage-backed securities and certain asset-backed securities. Accordingly, the potential for the value of a senior floating rate interest or debt security to increase in response to interest rate declines is limited. For certain asset-backed securities, the actual maturity may be less than the stated maturity shown in the Schedule of Investments. As a result, the timing of income recognition relating to these securities may vary based upon the actual maturity.
j)	Use of Estimates — The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and the reported amounts of income and expenses during the period. Operating results in the future could vary from the amounts derived from management’s estimates.
k)	Financial Accounting Standards Board Financial Accounting Standards No. 157 — Effective November 1, 2008, the Fund adopted Financial Accounting Standards Board (“FASB”) Statement of Financial Accounting Standards No. 157, “Fair Value Measurements” (“FAS 157”). This standard clarifies the definition of fair value for financial reporting, establishes a framework for measuring fair value and requires additional disclosures about the use of fair value

15

The Hartford Short Duration Fund

Notes to Financial Statements — (continued)

April 30, 2009 (Unaudited)

(000’s Omitted)

measurements. Fair value is defined under FAS 157 as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Under FAS 157, a fair value measurement should reflect all of the assumptions that market participants would use in pricing the asset or liability, including assumptions about the risk inherent in a particular valuation technique, the effect of a restriction on the sale or use of an asset, and the risk of nonperformance.

Various inputs are used in determining the value of the Fund’s investment. These inputs are summarized, per FAS 157, into three broad hierarchy levels. This hierarchy is based on whether the valuation inputs are observable or unobservable. These levels are:

• Level 1 — Quoted prices in active markets for identical securities. Level 1 includes exchange-traded instruments such as domestic equities, some foreign equities, options, futures, mutual funds, ETF’s, and rights and warrants.

• Level 2 — Observable inputs other than Level 1 prices, such as quoted prices for similar securities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the security. Level 2 includes debt securities that are traded less frequently than exchange-traded instruments and that are valued using third party pricing services and foreign equities, whose value is determined using a multi-factor regression model with inputs that are observable in the market; and money market instruments, which are carried at amortized cost.

• Level 3 — Significant unobservable inputs that are supported by little or no market activity. Level 3 includes financial instruments whose values are determined using broker quotes and require significant management judgment or estimation. This category includes broker quoted securities, long dated OTC options and securities where trading has been halted or there are certain restrictions on trading. While these securities are priced using unobservable inputs, the valuation of these securities reflects the best available data and management believes the prices are a good representation of exit price.

	Individual securities within any of the above mentioned asset classes may be assigned a different hierarchical level than those presented above, as individual circumstances dictate.
	FAS 157 also requires that a roll forward reconciliation be shown for all Level 3 securities from the beginning of the reporting period to the end of the reporting period. Part of this reconciliation includes transfers in and/or out of Level 3. For purposes of this reconciliation, transfers in are shown at the end of period fair value and transfers out are shown at the beginning of period fair value.
	Refer to the valuation hierarchy levels summary and the Level 3 roll forward reconciliation found following the Schedule of Investments.
	FASB Staff Position No. 157-4 — In April 2009, FASB released FASB Staff Position No. 157-4, “Determining Fair Value When the Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly” (“FSP FAS 157-4”). FSP FAS 157-4 provides additional guidance on determining whether a market for a financial asset is not active and a transaction is not distressed when measuring fair value under FAS 157. The FSP also requires additional disclosure detail on debt and equity securities by major investment categories. FSP FAS 157-4 is effective for interim and annual periods ending after June 15, 2009. At this time, management is evaluating the implications of FSP FAS 157-4 and does not believe it will impact valuation but will require additional disclosure. This additional disclosure has not yet been implemented.
l)	Financial Accounting Standards Board Financial Accounting Standards No. 161 — In March 2008, the FASB released Statement of Financial Accounting Standards No. 161, “Disclosures about Derivative Instruments and Hedging Activities” (“FAS 161”). FAS 161 requires companies to disclose information detailing the objectives and strategies for using derivative instruments, the level of derivative activity entered into by the company and any credit risk-related contingent features of the agreements. The application of FAS 161 is required for fiscal years and interim periods

16

beginning after November 15, 2008. At this time, management is evaluating the implications of FAS 161 and has not yet implemented the new disclosure standard.

m) Indemnifications: Under the Company’s organizational documents, the Company shall indemnify its officers and directors to the full extent required or permitted under Maryland General Corporation Law and the federal securities law. In addition, the Company, on behalf of the Fund, may enter into contracts that contain a variety of indemnifications. The Company’s maximum exposure under these arrangements is unknown. However, the Company has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote.

3. Federal Income Taxes:

a)

Federal Income Taxes — For federal income tax purposes, the Fund intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code (“IRC”) by distributing substantially all of its taxable net investment income and net realized capital gains to its shareholders and otherwise complying with the requirements of regulated investment companies. The Fund has distributed substantially all of its income and capital gains in prior years and the Fund intends to distribute substantially all of its income and gains during the calendar year ending December 31, 2009. Accordingly, no provision for federal income or excise taxes has been made in the accompanying financial statements. Distributions from short-term capital gains are treated as ordinary income distributions for federal income tax purposes.

b)

The tax character of distributions paid by the Fund for the periods indicated is as follows (as adjusted for dividends payable):

	For the Year Ended		For the Year Ended
	October 31, 2008		October 31, 2007
Ordinary Income	$	8,250	$	8,826

As of October 31, 2008, the Fund’s components of distributable earnings (deficit) on a tax basis were as follows:

	Amount
Undistributed Ordinary Income	$	148
Accumulated Capital Losses*	$	(3,138	)
Unrealized Depreciation†	$	(15,438	)
Total Accumulated Deficit	$	(18,428	)

*	The Fund has capital loss carryforwards that are identified in the Capital Loss Carryforward note that follows.
†	The differences between book-basis and tax-basis unrealized appreciation (depreciation) are attributable to the tax deferral of wash sales losses, the mark-to-market adjustment for certain derivatives in accordance with IRC Sec. 1256, the mark to market for Passive Foreign Investment Companies and basis differences in real estate investment trusts.

c) Reclassification of Capital Accounts — In accordance with American Institute of Certified Public Accountants (AICPA) Statement of Position 93-2, Determination, Disclosure, and Financial Statement Presentation of Income, Capital Gain, and Return of Capital Distributions by Investment Companies, the Fund has recorded reclassifications in its capital accounts. These reclassifications had no impact on the NAV of the Fund. The reclassifications are a result of permanent differences between GAAP and tax accounting for such items as net operating losses that reduce distribution requirements. Adjustments are made to reflect the impact these items have on current and future distributions to shareholders. Therefore, the source of the Fund’s distributions may be shown in the accompanying Statement of Changes in Net Assets as from net investment income, from net realized gains on investments or from capital depending on the type of book and tax differences that exist. As of October 31, 2008, the Fund recorded reclassifications to decrease undistributed net investment income by $2 and increase accumulated net realized gain by $2.

17

The Hartford Short Duration Fund

Notes to Financial Statements — (continued)

April 30, 2009 (Unaudited)

(000’s Omitted)

d) Capital Loss Carryforward - At October 31, 2008 (tax-year-end), the Fund had capital loss carryforwards for U.S. federal income tax purposes of approximately:

Year	Amount
2011	$	221
2012		295
2013		977
2014		732
2015		162
2016		751
Total	$	3,138

e) Financial Accounting Standards Board Interpretation No. 48 — On July 13, 2006, the FASB released FASB Interpretation No. 48 “Accounting for Uncertainty in Income Taxes” (“FIN 48”). FIN 48 provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. The Fund adopted FIN 48 for fiscal years beginning after December 15, 2006. Management has evaluated the implications of FIN 48 for all open tax years (tax years ended October 31, 2006 – 2008) and has determined there is no impact to the Fund’s financial statements.

4. Expenses:

a)

Investment Management Agreements — Hartford Investment Financial Services, LLC (“HIFSCO”) serves as investment manager to the Fund pursuant to an Investment Management Agreement with The Hartford Mutual Funds, Inc. As investment manager, HIFSCO has overall investment supervisory responsibility for the Fund. In addition, HIFSCO provides administrative personnel, services, equipment, facilities and office space for proper operation of the Fund. HIFSCO has contracted with Hartford Investment Management for the provision of day-to-day investment management services to the Fund in accordance with the Fund’s investment objective and policies. The Fund pays a fee to HIFSCO, a portion of which may be used to compensate Hartford Investment Management.

The schedule below reflects the rates of compensation paid to HIFSCO for investment management services rendered during the six-month period ended April 30, 2009; the rates are accrued daily and paid monthly:

Average Daily Net Assets	Annual Fee
On first $500 million		0.45	%
On next $4.5 billion		0.40	%
On next $5 billion		0.38	%
Over $10 billion		0.37	%

b) Accounting Services Agreement — Pursuant to the Fund Accounting Agreement between Hartford Life Insurance Company (“HLIC”) and the Fund, HLIC provides accounting services to the Fund and receives monthly compensation on the Fund’s average net assets. The Fund’s accounting service fees are accrued daily and paid monthly.

Average Daily Net Assets	Annual Fee
On first $5 billion		0.018	%
On next $5 billion		0.016	%
Over $10 billion		0.014	%

18

c) Operating Expenses — Allocable expenses incurred by the Company are allocated to each Fund and allocated to classes within the Fund in proportion to the average daily net assets of the Fund and each class, except where allocation of certain expenses is more fairly made directly to the Fund or to specific classes within a Fund. During the six-month period ended April 30, 2009, HIFSCO has contractually limited the total operating expenses of this Fund, exclusive of taxes, interest expense, brokerage commissions, certain distribution expenses and extraordinary expenses as follows:

Class A	Class B	Class C	Class Y
0.90%	1.65%	1.65%	0.65%

d)	Fees Paid Indirectly — The Fund’s custodian bank has agreed to reduce its fees when the Fund maintains cash on deposit in the non-interest-bearing custody account. For the six-month period ended April 30, 2009, this amount is included in the Statement of Operations.
	The ratio of expenses to average net assets in the accompanying financial highlights excludes the reduction in expenses related to fees paid indirectly. Had the fees paid indirectly been included, the annualized expense ratio for the periods listed below would have been as follows:

	Annualized
	Six-Month
	Period			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended
	Ended April			October 31,			October 31,			October 31,			October 31,			October 31,
	30, 2009			2008			2007			2006			2005			2004
Class A Shares		0.90	%		0.90	%		0.90	%		0.90	%		0.90	%		0.95	%
Class B Shares		1.65			1.65			1.65			1.65			1.65			1.65
Class C Shares		1.65			1.65			1.65			1.65			1.65			1.65
Class Y Shares		0.54			0.58			0.64			0.65			0.65			0.60	*

* From November 28, 2003 (commencement of operations), through October 31, 2004

e)

Distribution and Service Plan for Class A, B and C Shares — HIFSCO is the principal underwriter and distributor of the Fund. HIFSCO is engaged in distribution activities, which include marketing and distribution of shares through broker-dealers, financing distribution costs and maintaining financial books and records. For the six-month period ended April 30, 2009, HIFSCO received front-end load sales charges of $194 and contingent deferred sales charges of $20 from the Fund.

The Fund has adopted Distribution and Service Plans in accordance with Rule 12b-1 of the Investment Company Act of 1940, as amended, to compensate the distributor (HIFSCO) for activities intended to result in the sale and distribution of Classes A, B and C shares and for providing services for shareholders. The Rule 12b-1 plan applicable to Class A shares of the Funds provides for payment of a Rule 12b-1 fee of up to 0.35% of average daily net assets; however, the Board of Directors has currently authorized 12b-1 payments of only up to 0.25%. Some or all of the fee may be used for shareholder servicing expenses with the remainder used for distribution expenses. Some or the entire Rule 12b-1 fee for Class B shares may be remitted to broker-dealers for distribution and/or shareholder account services. Under the Class B Plan, the Fund pays the distributor 1.00% of the average daily net assets of Class B shares that are outstanding for 8 years or less, 0.25% of which is a fee for services provided to existing shareholders with the remainder used for distribution expenses. After eight years, Class B shares convert to Class A shares. Upon conversion to Class A shares, the Class A plan described above will apply to those shares. Under the Class C Plan, the Fund pays the Distributor 1.00% of the average daily net assets of Class C shares outstanding, 0.25% of which is intended as a fee for services provided to existing shareholders with the remainder used for distribution expenses. For Class C shares, some or the entire fee may be remitted to broker-dealers for distribution and/or shareholder account services. The Fund’s 12b-1 fees are accrued daily and paid monthly.

19

The Hartford Short Duration Fund

Notes to Financial Statements — (continued)

April 30, 2009 (Unaudited)

(000’s Omitted)

For the six-month period ended April 30, 2009, total sales commissions paid to affiliated brokers/dealers of The Hartford for distributing the Fund’s shares were $7. These commissions are in turn paid to sales representatives of the broker/dealers.

f)

Other Related Party Transactions — Certain officers of the Fund are directors and/or officers of HIFSCO and/or The Hartford or its subsidiaries. For the six-month period ended April 30, 2009, a portion of the Fund’s chief compliance officer’s salary was paid by the Fund in an amount, which rounds to zero. Hartford Administrative Services Company (“HASCO”), an indirect wholly owned subsidiary of The Hartford, provides transfer agent services to the Fund. HASCO was compensated $62 for providing such services. These fees are accrued daily and paid monthly.

5.	Investment Transactions:
	For the six-month period ended April 30, 2009, the Fund’s aggregate purchases and sales of investment securities (excluding short-term investments) were as follows:

	Amount
Cost of Purchases Excluding U.S. Government Obligations	$	29,373
Sales Proceeds Excluding U.S. Government Obligations		36,052
Cost of Purchases for U.S. Government Obligations		15,799
Sales Proceeds for U.S. Government Obligations		12,411

6.	Capital Share Transactions:
	The following information is for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	For the Six-Month Period Ended April 30, 2009												For the Year Ended October 31, 2008
			Shares					Shares							Shares					Shares
			Issued for					Issued		Net Increase					Issued for					Issued		Net Increase
	Shares		Reinvested		Shares			from		(Decrease) of			Shares		Reinvested		Shares			from		(Decrease) of
	Sold		Dividends		Redeemed			Merger		Shares			Sold		Dividends		Redeemed			Merger		Shares
Class A
Shares		4,348		90		(2,350	)		—		2,088			5,432		124		(4,017	)		—		1,539
Amount	$	39,608	$	824	$	(21,402	)	$	—	$	19,030		$	52,093	$	1,186	$	(38,374	)	$	—	$	14,905
Class B
Shares		407		9		(193	)		—		223			328		15		(354	)		—		(11	)
Amount	$	3,712	$	83	$	(1,761	)	$	—	$	2,034		$	3,124	$	145	$	(3,400	)	$	—	$	(131	)
Class C
Shares		1,464		30		(1,045	)		—		449			2,886		49		(2,304	)		—		631
Amount	$	13,349	$	273	$	(9,521	)	$	—	$	4,101		$	27,690	$	470	$	(22,048	)	$	—	$	6,112
Class Y
Shares		215		212		(2,329	)		—		(1,902	)		2,212		603		(5,607	)		—		(2,792	)
Amount	$	1,952	$	1,931	$	(21,168	)	$	—	$	(17,285	)	$	21,156	$	5,768	$	(52,447	)	$	—	$	(25,523	)

The following reflects the conversion of Class B Shares into Class A Shares (reflected as Class A Shares issued and Class B shares redeemed) for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	Shares		Dollars
For the Six-Month Period Ended April 30, 2009		26	$	233
For the Year Ended October 31, 2008		49	$	471

20

7.

Line of Credit:

The Fund is one of several Hartford Funds that participate in a $500 million committed revolving line of credit facility. The facility is to be used for temporary or emergency purposes. Under the arrangement, the Fund is required to own securities having a market value in excess of 300% of the total bank borrowings. The interest rate on borrowings varies depending on the nature of the loan. The facility also requires a fee to be paid based on the amount of the commitment. During the six-month period ended April 30, 2009, the Fund did not have any borrowings under this facility.

21

The Hartford Short Duration Fund

Financial Highlights — (Unaudited)

	- Selected Per-Share Data - (a)																														- Ratios and Supplemental Data -
																																	Ratio of			Ratio of			Ratio of
																																	Expenses			Expenses			Expenses
																																	to Average			to Average			to Average
																																	Net Assets			Net Assets			Net Assets
																																	Before			After			After
							Net																										Waivers			Waivers			Waivers
							Realized																										and			and			and			Ratio of
							and Un-									Distrib-							Net										Reimburse-			Reimburse-			Reimburse-			Net
			Net		Pay-		realized						Dividends			utions							Increase			Net							ments and			ments and			ments and			Invest-			Port-
	Net Asset		Invest-		ments		Gain						from Net			from		Distri-					(Decrease)			Asset					Net Assets		Including			Including			Excluding			ment			folio
	Value at		ment		from		(Loss) on			Total from			Invest-			Realized		butions		Total			in Net			Value at					at End of		Expenses			Expenses			Expenses			Income to			Turn-
	Beginning		Income		(to)		Invest-			Investment			ment			Capital		from		Distri-			Asset			End of		Total			Period		not Subject			not Subject			not Subject			Average			over
Class	of Period		(Loss)		Affiliate		ments			Operations			Income			Gains		Capital		butions			Value			Period		Return(b)			(000’s)		to Cap(c)			to Cap(c)			to Cap(c)			Net Assets			Rate(d)
For the Six-Month Period Ended April 30, 2009 (Unaudited)
A	$	9.21	$	0.16	$	–	$	(0.07	)	$	0.09		$	(0.17	)	$	–	$	–	$	(0 .17	)	$	(0 .08	)	$	9 .13		0 .94	%(e)	$	65,314		0 .93	%(f)		0 .90	%(f)		0 .90	%(f)		3 .62	%(f)		27	%
B		9 .21		0.13		–		(0.08	)		0.05			(0.13	)		–		–		(0.13	)		(0.08	)		9.13		0.57	(e)		7,838		1 .81	(f)		1 .65	(f)		1 .65	(f)		2 .87	(f)		–
C		9 .21		0.13		–		(0.07	)		0.06			(0.13	)		–		–		(0.13	)		(0.07	)		9.14		0.68	(e)		30,625		1 .67	(f)		1 .65	(f)		1 .65	(f)		2 .88	(f)		–
Y		9 .19		0.18		–		(0.07	)		0.11			(0.18	)		–		–		(0.18	)		(0.07	)		9.12		1.22	(e)		89,459		0 .54	(f)		0 .54	(f)		0 .54	(f)		3 .99	(f)		–
For the Year Ended October 31, 2008
A		9.82		0.37		–		(0.62	)		(0.25	)		(0.36	)		–		–		(0.36	)		(0.61	)		9.21		(2.60	)		46,620		0.95			0.90			0.90			3.78			73
B		9.82		0.29		–		(0.61	)		(0.32	)		(0.29	)		–		–		(0.29	)		(0.61	)		9.21		(3.33	)		5,846		1.84			1.65			1.65			3.06			–
C		9.82		0.29		–		(0.61	)		(0.32	)		(0.29	)		–		–		(0.29	)		(0.61	)		9.21		(3.33	)		26,738		1.69			1.65			1.65			3.03			–
Y		9.81		0.40		–		(0.63	)		(0.23	)		(0.39	)		–		–		(0.39	)		(0.62	)		9.19		(2.40	)		107,669		0.58			0.58			0.58			4.11			–
For the Year Ended October 31, 2007
A		9.89		0.44		–		(0.07	)		0.37			(0.44	)		–		–		(0.44	)		(0.07	)		9.82		3.80			34,606		1.04			0.90			0.90			4.49			68
B		9.90		0.37		–		(0.09	)		0.28			(0.36	)		–		–		(0.36	)		(0.08	)		9.82		2.91			6,349		1.90			1.65			1.65			3.73			–
C		9.90		0.37		–		(0.09	)		0.28			(0.36	)		–		–		(0.36	)		(0.08	)		9.82		2.91			22,322		1.77			1.65			1.65			3.74			–
Y		9.88		0.47		–		(0.08	)		0.39			(0.46	)		–		–		(0.46	)		(0.07	)		9.81		4.08			142,224		0.64			0.64			0.64			4.75			–
For the Year Ended October 31, 2006
A		9.85		0.35		–		0.04			0.39			(0.35	)		–		–		(0.35	)		0.04			9.89		4.02			26,726		1.10			0.90			0.90			3.53			119
B		9.85		0.27		–		0.05			0.32			(0.27	)		–		–		(0.27	)		0.05			9.90		3.33			6,760		1.92			1.65			1.65			2.77			–
C		9.85		0.27		–		0.05			0.32			(0.27	)		–		–		(0.27	)		0.05			9.90		3.33			14,382		1.83			1.65			1.65			2.76			–
Y		9.84		0.37		–		0.04			0.41			(0.37	)		–		–		(0.37	)		0.04			9.88		4.28			102,198		0.68			0.65			0.65			3.78			–
For the Year Ended October 31, 2005
A		10.08		0.33		–		(0.24	)		0.09			(0.32	)		–		–		(0.32	)		(0.23	)		9.85		0.92			29,212		1.05			0.90			0.90			3.23			123
B		10.08		0.25		–		(0.23	)		0.02			(0.25	)		–		–		(0.25	)		(0.23	)		9.85		0.17			8,814		1.89			1.65			1.65			2.47			–
C		10.08		0.25		–		(0.23	)		0.02			(0.25	)		–		–		(0.25	)		(0.23	)		9.85		0.17			22,973		1.78			1.65			1.65			2.47			–
Y		10.07		0.35		–		(0.23	)		0.12			(0.35	)		–		–		(0.35	)		(0.23	)		9.84		1.18			82,439		0.67			0.65			0.65			3.53			–
For the Year Ended October 31, 2004
A		10.14		0.30		–		(0.06	)		0.24			(0.30	)		–		–		(0.30	)		(0.06	)		10.08		2.40			39,148		1.06			0.95			0.95			2.95			108
B		10.14		0.23		–		(0.06	)		0.17			(0.23	)		–		–		(0.23	)		(0.06	)		10.08		1.68			12,267		1.84			1.65			1.65			2.26			–
C		10.14		0.23		–		(0.06	)		0.17			(0.23	)		–		–		(0.23	)		(0.06	)		10.08		1.68			34,949		1.76			1.65			1.65			2.26			–
Y(g)		10.11		0.30		–		(0.04	)		0.26			(0.30	)		–		–		(0.30	)		(0.04	)		10.07		2.62	(e)		31,429		0.61	(f)		0.60	(f)		0.60	(f)		3.03	(f)		–

(a)	Information presented relates to a share outstanding throughout the indicated period.
(b)	Assumes initial investment at net asset value at the beginning of each period, reinvestment of all distributions, the complete redemption of the investment at net asset value at the end of each period and no sales charge. Total return would be reduced if sales charges were taken into account.
(c)	Ratios do not include fees paid indirectly (See Expenses in the accompanying Notes to Financial Statements).
(d)	Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between the classes of shares issued.
(e)	Not annualized.
(f)	Annualized.
(g)	Commenced operations on November 28, 2003.

22

The Hartford Short Duration Fund

Directors and Officers (Unaudited)

The Board of Directors appoints officers who are responsible for the day-to-day operations of the Fund and who execute policies formulated by the Directors. Each director serves until his or her death, resignation, or retirement or until the next annual meeting of shareholders is held or until his or her successor is elected and qualifies.

Directors and officers who are employed by or who have a financial interest in The Hartford are considered “interested” persons of the Fund pursuant to the Investment Company Act of 1940, as amended. Each officer and three of the Fund’s directors, as noted in the chart below, are “interested” persons of the Fund. Each director serves as a director for The Hartford Mutual Funds, Inc., The Hartford Mutual Funds II, Inc., The Hartford Income Shares Fund, Inc., Hartford Series Fund, Inc., and Hartford HLS Series Fund II, Inc., which collectively consist of 100 funds. Correspondence may be sent to directors and officers c/o Hartford Mutual Funds, P.O. Box 2999, Hartford, Connecticut 06104-2999, except that correspondence to Ms. Fagely may be sent to 500 Bielenberg Drive, Woodbury, Minnesota 55125.

The table below sets forth, for each director and officer, his or her name, year of birth, current position with the Fund and date first elected or appointed to The Hartford Mutual Funds, Inc. (“MF”) and The Hartford Mutual Funds II, Inc. (“MF2”), principal occupation, and, for directors, other directorships held. The Fund’s statement of additional information contains further information on the directors and is available free of charge by calling 1-888-843-7824 or writing to Hartford Mutual Funds, P.O. Box 64387, St. Paul, MN 55164-0387.

Information on the aggregate remuneration paid to the directors of the Fund can be found in the Statement of Operations herein. The Fund pays a portion of the Chief Compliance Officer’s compensation, but does not pay salaries or compensation to any of its officers or directors who are employed by The Hartford.

Non-Interested Directors

Lynn S. Birdsong (1946) Director since 2003, Co-Chairman of the Investment Committee

Mr. Birdsong is a private investor. Since 1981, Mr. Birdsong has been a partner in Birdsong Company, an advertising specialty firm. Since 2003, Mr. Birdsong has been an independent director of The Japan Fund. From 2003 to March 2005, Mr. Birdsong was an independent director of the Atlantic Whitehall Funds. From 1979 to 2002, Mr. Birdsong was a managing director of Zurich Scudder Investments, an investment management firm. During his employment with Scudder, Mr. Birdsong was an interested director of The Japan Fund.

Robert M. Gavin, Jr. (1940) Director since 2002 (MF) and 1986 (MF2), Chairman of the Board since 2004

Dr. Gavin is an educational consultant. Prior to September 1, 2001, he was President of Cranbrook Education Community and prior to July 1996, he was President of Macalester College, St. Paul, Minnesota.

Duane E. Hill (1945) Director since 2001 (MF) and 2002 (MF2), Chairman of the Nominating Committee

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

Sandra S. Jaffee (1941) Director since 2005

Ms. Jaffee is Chairman and Chief Executive Officer of Fortent (formerly Searchspace Group), a leading provider of compliance/regulatory technology to financial institutions. Ms. Jaffee served as an Entrepreneur in Residence with Warburg Pincus, a private equity firm, from August 2004 to August 2005. From September 1995 to July 2004, Ms. Jaffee served as Executive Vice President at Citigroup, where she was President and Chief Executive Officer of Citibank’s Global Securities Services (1995-2003).

William P. Johnston (1944) Director since 2005, Chairman of the Compliance Committee

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

23

The Hartford Short Duration Fund
Directors and Officers (Unaudited) — (continued)

Phillip O. Peterson (1944) Director since 2002 (MF) and 2000 (MF2), Chairman of the Audit Committee

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

Lemma W. Senbet (1946) Director since 2005

Dr. Senbet is the William E. Mayer Chair Professor of Finance at the University of Maryland, Robert H. Smith School of Business. He was chair of the Finance Department during 1998-2006. Previously he was an endowed professor of finance at the University of Wisconsin-Madison. Also, he was director of the Fortis Funds from March 2000-July 2002. Dr. Senbet served the finance profession in various capacities, including as director of the American Finance Association and President of the Western Finance Association. In 2006, Dr. Senbet was inducted Fellow of Financial Management Association International for his career-long distinguished scholarship and professional service.

Interested Directors and Officers

Thomas M. Marra* (1958) Director since 2002

Mr. Marra has served as President and Chief Operating Officer of The Hartford Financial Services Group, Inc. (“The Hartford”) since 2007. Mr. Marra currently serves as Director of Hartford Life, Inc. (“HL, Inc.”). Mr. Marra served as Chief Operating Officer of Hartford Life Insurance Company, Inc. (“Hartford Life”) (2000-2008), as President of Hartford Life (2002-2008) and as Director of Hartford Life’s Investment Products Division from 1998 to 2000.

* On February 24, 2009, The Hartford and Mr. Marra determined to enter into a mutually agreed separation whereby Mr. Marra will retire, and his role as an executive officer and employee of The Hartford will terminate, effective July 3, 2009. Mr. Marra will resign his position as a Director of the Fund effective June 25, 2009.

Lowndes A. Smith (1939) Director since 2002, Co-Chairman of the Investment Committee

Mr. Smith served as Vice Chairman of The Hartford from February 1997 to January 2002, as President and Chief Executive Officer of Hartford Life, Inc. from February 1997 to January 2002, and as President and Chief Operating Officer of The Hartford Life Insurance Companies from January 1989 to January 2002. Mr. Smith serves as a Director of White Mountains Insurance Group, Ltd., One Beacon Insurance, Symetra Financial and as a Managing Director of Whittington Gray Associates.

John C. Walters* (1962) Director since 2008

Mr. Walters currently serves as Chief Executive Officer, President and Director of HL, Inc. Mr. Walters previously served as President of the U.S. Wealth Management Division of Hartford Life, Inc., as Co-Chief Operating Officer of Hartford Life Insurance Company (2007-2008) and as Executive Vice President and Director of its Investment Products Division (2000-2008). Mr. Walters also serves as Chairman of the Board, Chief Executive Officer, President and Director of Hartford Life Insurance Company and as Executive Vice President of The Hartford. In addition, Mr. Walters is Manager of HL Investment Advisors, LLC (“HL Advisors”).

* Mr. Walters previously served as President and Chief Executive Officer of the Fund (2007 – 2009).

Other Officers

Robert M. Arena, Jr. (1968) President and Chief Executive Officer since 2009 (served as Vice President of the Fund (2006 – 2009)) Mr. Arena serves as Executive Vice President of Hartford Life Insurance Company, (“Hartford Life”). Additionally, Mr. Arena is Director and Senior Vice President of Hartford Administrative Services Company, (“HASCO”), Manager, Chief Executive Officer and President of Hartford Investment Financial Services, LLC (“HIFSCO”) and HL Advisors. Prior to joining The Hartford in 2004, he was Senior Vice President in charge of Product Management for American Skandia/Prudential in the individual annuities division. Mr. Arena joined American Skandia in 1996.

Tamara L. Fagely (1958) Vice President, Treasurer and Controller since 2002 (MF) 1993 (MF2)

Ms. Fagely has been a Vice President of HASCO since 1998 and Chief Financial Officer since 2006. Currently Ms. Fagely is a Vice President of Hartford Life. She served as Assistant Vice President of Hartford Life from December 2001 through March 2005. In addition, Ms. Fagely is Controller and Chief Financial Officer of HIFSCO.

Brian Ferrell (1962) AML Compliance Officer since 2008

Mr. Ferrell has served as Assistant Vice President and AML Compliance Officer for The Hartford since 2006 and as AML Compliance Officer for HASCO and Hartford Investor Services Company, LLC (“HISC”) since 2008. Prior to joining The Hartford in 2006, Mr. Ferrell held various positions at the U.S. Department of the Treasury, (the “Treasury”), from 2001 to 2006 where he served as Chief Counsel for the Treasury’s Financial Crimes Enforcement Network, (“FinCEN”) from 2005 – 2006.

24

Thomas D. Jones, III (1965) Vice President and Chief Compliance Officer since 2006

Mr. Jones serves as Chief Compliance Officer for the Hartford Mutual Funds and Vice President and Director of Securities Compliance for The Hartford. He is also Vice President of HIFSCO, HL Advisors, and Hartford Life Insurance Company. Mr. Jones joined The Hartford in 2006 from SEI Investments, where he served as Chief Compliance Officer for its mutual funds and investment advisers. Prior to joining SEI, Mr. Jones was First Vice President and Compliance Director for Merrill Lynch Investment Managers (Americas) (“MLIM”), where he worked from 1992-2004. At MLIM, Mr. Jones was responsible for the compliance oversight of various investment products, including mutual funds, wrap accounts, institutional accounts and alternative investments.

Edward P. Macdonald (1967) Vice President, Secretary and Chief Legal Officer since 2005

Mr. Macdonald serves as Assistant General Counsel and Assistant Vice President of The Hartford and Chief Legal Officer and Vice President of HIFSCO. He also serves as Vice President and Secretary of HASCO, Assistant Vice President of Hartford Life, and Chief Legal Officer, Secretary and Vice President of HL Advisors. Prior to joining The Hartford in 2005, Mr. Macdonald was Chief Counsel, Investment Management for Prudential Financial (formerly American Skandia Investment Services, Inc.). He joined Prudential in April 1999.

Vernon J. Meyer (1964) Vice President since 2006

Mr. Meyer serves as Senior Vice President of Hartford Life and as Director of its Investment Advisory Group in the Individual Markets Group segment. He also serves as Senior Vice President of HIFSCO and HL Advisors. Prior to joining The Hartford in 2004, Mr. Meyer was with MassMutual which he joined in 1987.

D. Keith Sloane (1960) Vice President since 2009

Mr. Sloane is a Senior Vice President of Hartford Life where he serves as Director of mutual fund product management for The Hartford’s mutual funds and 529 college savings businesses. Additionally, Mr. Sloane currently serves as Senior Vice President of HIFSCO, HL Advisors, and HASCO. Prior to joining The Hartford in 2007, Mr. Sloane was Director of product marketing and led the mutual fund business for Wachovia Securities (“Wachovia”) in their investment products group. Mr. Sloane joined Wachovia in 1995.

Jane Wolak (1961) Vice President since 2009

Ms. Wolak currently serves as Vice President of Hartford Life. Ms. Wolak joined Hartford Life as Vice President, Retail Product Services in May 2007. She is also Vice President of HASCO. Previously, Ms. Wolak was with Sun Life Financial where she held the position of Vice President, Service Center Operations from 2001 – 2007.

HOW TO OBTAIN A COPY OF THE FUND’S PROXY VOTING POLICIES AND VOTING RECORDS

A description of the policies and procedures that the Fund uses to determine how to vote proxies relating to portfolio securities and a record of how the Fund voted any proxies for the twelve-month period ended June 30, 2008 is available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov.

QUARTERLY PORTFOLIO HOLDINGS INFORMATION

The Fund files a complete schedule of portfolio holdings with the Commission for the first and third quarters of each fiscal year on Form N-Q. The Fund’s Forms are available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov. The Form N-Q may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330.

25

The Hartford Short Duration Fund

Expense Example (Unaudited)

Your Fund’s Expenses

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments and contingent deferred sales charges (CDSC) (2) ongoing costs including management fees; distribution fees; and other fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the period of October 31, 2008 through April 30, 2009.

Actual Expenses

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

Hypothetical Example for Comparison Purposes

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

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads) and CDSC. Therefore, the second line 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 are equal to the Fund’s annualized expense ratios multiplied by average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

	Actual return						Hypothetical (5% return before expenses)
					Expenses paid						Expenses paid					Days in
					during the period						during the period					the		Days
	Beginning		Ending Account		October 31, 2008		Beginning		Ending Account		October 31,		Annualized			current		in the
	Account Value		Value		through		Account Value		Value		2008 through		expense			1/2		full
	October 31, 2008		April 30, 2009		April 30, 2009		October 31, 2008		April 30, 2009		April 30, 2009		ratio			year		year
Class A	$	1,000.00	$	1,009.42	$	4.48	$	1,000.00	$	1,020.33	$	4.50		0.90	%		181		365
Class B	$	1,000.00	$	1,005.66	$	8.20	$	1,000.00	$	1,016.61	$	8.25		1.65			181		365
Class C	$	1,000.00	$	1,006.76	$	8.20	$	1,000.00	$	1,016.61	$	8.25		1.65			181		365
Class Y	$	1,000.00	$	1,012.22	$	2.69	$	1,000.00	$	1,022.11	$	2.70		0.54			181		365

26

The Hartford Small Company Fund

Table of Contents

Manager Discussions (Unaudited)	2
Financial Statements
Schedule of Investments at April 30, 2009 (Unaudited)	4
Statement of Assets and Liabilities at April 30, 2009 (Unaudited)	9
Statement of Operations for the Six Month Period Ended April 30, 2009 (Unaudited)	10
Statement of Changes in Net Assets for the Six Month Period Ended April 30, 2009 (Unaudited) and the Year Ended October 31, 2008	11
Notes to Financial Statements (Unaudited)	12
Financial Highlights (Unaudited)	23
Directors and Officers (Unaudited)	25
How to Obtain a Copy of the Fund’s Proxy Voting Policies and Proxy Voting Records (Unaudited)	27
Quarterly Portfolio Holdings Information (Unaudited)	27
Expense Example (Unaudited)	28

The Hartford Small Company Fund

(subadvised by Wellington Management Company, LLP Hartford Investment Management Company)

Performance Overview(1) 4/30/99 — 4/30/09

Growth of a $10,000 investment in Class A which includes Sales Charge

Russell 2000 Growth Index is an unmanaged index of those Russell 2000 Index growth companies with higher price-to-book ratios and higher forecasted growth values.

You cannot invest directly in an index.

The value of shares will fluctuate so that, when redeemed, shares may be worth more or less than their original cost. The chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.

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

Investment objective — Seeks growth of capital.

Average Annual Total Returns(2,3,4) (as of 4/30/09)

	Inception		1			5			10			Since
	Date		Year			Year			Year			Inception
Small Company A#		7/22/96		-35.10	%		-0.07	%		1.76	%		5.46	%
Small Company A##		7/22/96		-38.67	%		-1.20	%		1.19	%		4.99	%
Small Company B#		7/22/96		-35.42	%		-0.75	%	NA*			NA*
Small Company B##		7/22/96		-38.65	%		-1.07	%	NA*			NA*
Small Company C#		7/22/96		-35.54	%		-0.81	%		1.04	%		4.72	%
Small Company C##		7/22/96		-36.18	%		-0.81	%		1.04	%		4.72	%
Small Company I#		7/22/96		-35.00	%		0.06	%		1.83	%		5.51	%
Small Company R3#		7/22/96		-35.31	%		0.03	%		2.05	%		5.80	%
Small Company R4#		7/22/96		-35.09	%		0.19	%		2.14	%		5.87	%
Small Company R5#		7/22/96		-34.90	%		0.32	%		2.20	%		5.92	%
Small Company Y#		7/22/96		-34.78	%		0.40	%		2.24	%		5.96	%

#	Without sales charge
##	With sales charge
NA	Not Applicable
*	10 year and inception returns are not applicable for Class B because after 8 years Class B converts to Class A.

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)	Growth of a $10,000 investment in Classes B, C, I, R3, R4, R5 and Y shares will vary from results seen above due to differences in the expenses charged to these share classes.
(2)	Class C shares commenced operations on 7/31/98. Performance prior to 7/31/98 reflects Class B performance less Class C sales charges where applicable. Class I shares commenced operations on 8/31/06. Performance prior to 8/31/06 reflects Class A performance. Class R3, R4 and R5 shares commenced operations on 12/22/06. Performance prior to 12/22/06 reflects Class Y performance.
(3)	The initial investment in Class A shares reflects the maximum sales charge and Classes B and C reflect CDSC.
(4)	Total returns presented above were calculated using the Fund’s net asset value available to shareholders for sale or redemption of Fund shares on April 30, 2009, which excludes investment transactions as of this date.

Portfolio Managers
Wellington Management Company, LLP
Steven C. Angeli, CFA	Mario E. Abularach, CFA, CMT
Senior Vice President, Partner	Vice President
Stephen C. Mortimer
Senior Vice President
Hartford Investment Management Company
Hugh Whelan, CFA
Managing Director
Kurt Cubbage, CFA
Vice President

How did the Fund perform?

The Class A shares of The Hartford Small Company Fund returned - -7.18% before sales charges for the six month period ended April 30, 2009, underperforming its benchmark, the Russell 2000 Growth Index which returned -3.77% for the same period. The Fund underperformed the
- -2.75% return of the average fund in the Lipper Small Cap Growth Funds peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

The six-month period ended April 30, 2009 was one of the most volatile in history, reflecting investors’ fluctuating reactions to economic data releases and the US government’s involvement to help mitigate the financial crisis. The broad US equity market registered its sixth straight quarterly decline in the first quarter of 2009, but ended the period with a sharp rebound from mid-March lows. In this environment, small cap, mid cap and large cap stocks all declined during the period, as measured by the Russell 2000

2

(-8.4%), S&P MidCap 400 (-0.2%) and S&P 500 (-8.5%) indices, respectively. Six of ten sectors within the Russell 2000 Growth index declined during the period. Energy (-25%), Industrials (-11%), and Health Care (-11%) declined the most while Consumer Discretionary (11%), Telecommunication Services (11%), and Utilities (9%) were the strongest-performing sectors.

The Fund underperformed its benchmark during the period primarily due to weak stock selection within Consumer Discretionary, Information Technology, and Health Care. Sector allocation helped performance due to an overweight (i.e. the Fund’s sector position was greater than the benchmark position) position in Consumer Discretionary. Stock selection in Industrials helped relative (i.e. performance of the Fund as measured against the benchmark) performance during the period, as did a moderate allocation to cash.

Stocks that detracted the most from relative returns during the period were Solutia (Materials) and Ubisoft Entertainment (Information Technology). A specialty chemical producer, Solutia’s shares declined amid concerns about the company’s debt levels and exposure to automotive- and construction-related end markets. We eliminated the position during the period. Shares of French computer and video game publisher Ubisoft Entertainment fell as the company issued earnings guidance below analysts’ expectations. We exited the position during the period. Significant detractors from absolute (i.e. total return) returns also included Penn Virginia (Energy), ICON (Health Care), and HealthSouth (Health Care).

Top contributors to relative performance during the period included Aecom Technology (Industrials) and Advance Auto Parts (Consumer Discretionary). Shares of Aecom Technology, which provides infrastructure planning, consulting, design, and program and construction management services, rose as the company’s earnings exceeded expectations. Strong growth in demand for replacement auto parts drove shares of Advance Auto Parts higher. The company benefited from the weak economy as consumers favored replacing existing autos rather than purchasing new vehicles. Significant contributors to absolute returns also included MetroPCS Communications (Information Technology), Western Digital (Information Technology), and Allegiant Travel (Industrials).

What is the outlook?

We are in a period of tremendous uncertainty, which has undermined confidence and with it, stock prices. Furthermore, the earnings picture is cloudy. First, earnings are falling at near record-breaking rates and all indications are that they will continue to fall. Second, the quality and reliability of the earnings reported is lower than historical standards as the gap between pro forma (“street”) earnings and GAAP (Generally Accepted Accounting Principles) earnings rose in the past several months. Third, there is little clarity in future earnings prospects as the disparity among analyst estimates for future earnings remains at elevated levels. Historically, such consensus building was a precondition to the final, sustained recovery from bear markets associated with recessions. Signs of improvement — or even lessening deterioration — can have a powerful influence on sentiment and stock prices. At the same time stimulus programs are rapidly advancing from the idea stage to actual funding. And while credit markets remain tight, they are beginning to show signs of healing.

Despite the uncertainty, the Fund continues to focus on stocks of companies that have unique business models or special market opportunities that should allow them to deliver superior growth. The Fund remains well diversified, with holdings across all major market sectors. At the end of the period, the Fund had overweights in Consumer Discretionary and Telecommunication Services relative to the Russell 2000 Growth Index. The Fund ended the period most underweight (i.e. the Fund’s sector position was less than the benchmark position) Health Care, Information Technology, and Industrials.

At April 30, 2009, 57% of the Fund’s assets were managed by Wellington and 43% of the assets were managed by Hartford Investment Management.

Diversification by Industry

as of April 30, 2009

	Percentage of
Industry	Net Assets
Automobiles & Components		0.1	%
Banks		0.7
Capital Goods		10.5
Commercial & Professional Services		2.8
Consumer Durables & Apparel		5.2
Consumer Services		6.7
Diversified Financials		1.2
Energy		6.2
Food & Staples Retailing		1.3
Food, Beverage & Tobacco		2.0
Health Care Equipment & Services		9.7
Household & Personal Products		0.4
Insurance		1.9
Materials		2.1
Media		2.5
Pharmaceuticals, Biotechnology & Life Sciences		9.1
Real Estate		1.9
Retailing		5.0
Semiconductors & Semiconductor Equipment		3.4
Software & Services		12.2
Technology Hardware & Equipment		7.5
Telecommunication Services		2.4
Transportation		3.0
Utilities		0.2
Short-Term Investments		2.1
Other Assets and Liabilities		(0.1	)
Total		100.0	%

3

The Hartford Small Company Fund

Schedule of Investments
April 30, 2009 (Unaudited)
(000’s Omitted)

Shares or Principal Amount			Market Value ╪
COMMON STOCKS - 98.0%
		Automobiles & Components - 0.1%
	41	Exide Technologies •	$	224
	24	Fuel Systems Solutions, Inc. •		371
				595
		Banks - 0.7%
	38	Pinnacle Financial Partners, Inc. •		673
	122	Signature Bank •		3,325
				3,998
		Capital Goods - 10.5%
	25	Acuity Brands, Inc.		716
	119	Aecom Technology Corp. •		3,073
	29	American Superconductor Corp. •		745
	115	AMETEK, Inc.		3,712
	41	Apogee Enterprises		555
	28	Applied Signal Technology		553
	74	Beacon Roofing Supply, Inc. •		1,183
	88	Briggs & Stratton Corp.		1,304
	59	Chart Industries, Inc. •		813
	25	Clarcor, Inc.		766
	24	Curtis-Wright Corp.		767
	3	Dynamic Materials Corp.		51
	62	EMCOR Group, Inc. •		1,298
	38	Energy Conversion Devices, Inc. •		699
	55	EnerSys•		940
	19	ESCO Technologies, Inc. •		796
	144	Force Protection, Inc. •		1,094
	142	GrafTech International Ltd. •		1,252
	26	Graham Corp.		328
	126	GT Solar International, Inc. •		893
	28	Heico Corp.		807
	34	II-VI, Inc. •		808
	19	Kaydon Corp.		620
	140	Lennox International, Inc.		4,456
	75	MasTec, Inc. •		938
	23	Michael Baker Corp. •		782
	13	Middleby Corp. •		564
	21	Nordson Corp.		758
	84	Orbital Sciences Corp. •		1,294
	28	Orion Marine Group, Inc. •		423
	168	Pall Corp.		4,433
	133	Pentair, Inc.		3,548
	17	Perini Corp. •		300
	49	Regal-Beloit Corp.		2,009
	90	Sterling Construction Co., Inc. •		1,681
	104	Sunpower Corp. Class B •		2,627
	114	Taser International, Inc. •		549
	155	Teledyne Technologies, Inc. •		4,936
	20	Titan Machinery, Inc. •		205
	31	TransDigm Group, Inc. •		1,078
	15	Trex Co., Inc. •		168
	30	Wabtec Corp.		1,146
	23	Watsco, Inc.		973
	64	WESCO International, Inc. •		1,668
				58,309
		Commercial & Professional Services - 2.8%
	16	Administaff, Inc.		430
	67	CBIZ, Inc. •		525
	—	CoStar Group, Inc. •		10
	37	Geo Group, Inc. •		618
	43	Healthcare Services Group, Inc.		768
	32	Herman Miller, Inc.		483
	—	Huron Consulting Group, Inc. •		2
	88	Knoll, Inc.		626
	10	McGrath RentCorp.		209
	35	Rollins, Inc.		638
	206	Sykes Enterprises, Inc. •		4,051
	48	Tetra Tech, Inc. •		1,177
	165	Waste Connections, Inc. •		4,266
	31	Watson Wyatt Worldwide, Inc.		1,619
				15,422
		Consumer Durables & Apparel - 5.2%
	11	Deckers Outdoor Corp. •		611
	230	Gildan Activewear, Inc. •		2,638
	308	Hanesbrands, Inc. •		5,070
	130	Iconix Brand Group, Inc. •		1,847
	321	Jarden Corp. •		6,444
	18	Polaris Industries, Inc.		591
	87	Pool Corp.		1,552
	80	Smith & Wesson Holding Corp. •		573
	129	Snap-On, Inc.		4,359
	55	Tempur-Pedic International, Inc.		705
	36	True Religion Apparel, Inc. •		568
	51	Tupperware Brands Corp.		1,286
	47	Warnaco Group, Inc. •		1,355
	40	Wolverine World Wide, Inc.		835
				28,434
		Consumer Services - 6.7%
	23	American Public Education, Inc. •		838
	114	Bally Technologies, Inc. •		2,994
	31	BJ’s Restaurants, Inc. •		519
	25	Buffalo Wild Wings, Inc. •		980
	157	Burger King Holdings, Inc.		2,568
	53	California Pizza Kitchen, Inc. •		829
	18	Capella Education Co. •		949
	18	CEC Entertainment, Inc. •		553
	69	Cheesecake Factory, Inc. •		1,195
	68	CKE Restaurants, Inc.		647
	122	Coinstar, Inc. •		4,326
	447	Corinthian Colleges, Inc. •		6,880
	24	Cracker Barrel Old Country Store, Inc.		777
	11	DineEquity, Inc.		337
	37	Jack in the Box, Inc. •		921
	97	Life Time Fitness, Inc. •		1,812
	24	Lincoln Educational Services Corp. •		402
	—	Matthews International Corp. Class A		8
	31	P. F. Chang’s China Bistro, Inc. •		930
	26	Papa John’s International, Inc. •		688
	98	Red Robin Gourmet Burgers, Inc. •		2,414
	8	Steiner Leisure Ltd. •		242
	75	Texas Roadhouse, Inc. •		850
	23	Vail Resorts, Inc. •		671
	192	Wendy’s/Arby’s Group, Inc.		958
	81	WMS Industries, Inc. •		2,593
				36,881
		Diversified Financials - 1.2%
	73	Ezcorp, Inc. •		906
	34	First Cash Financial Services, Inc. •		559
	1	Greenhill & Co., Inc.		91
	89	Knight Capital Group, Inc. •		1,373
	45	Life Partners Holdings, Inc.		850
	35	optionsXpress Holdings, Inc.		581

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

4

Shares or Principal Amount			Market Value ╪
COMMON STOCKS - 98.0% — (continued)
		Diversified Financials - 1.2% - (continued)
	26	Riskmetrics Group, Inc. •	$	447
	71	Thinkorswim Group, Inc. •		675
	16	World Acceptance Corp. •		484
				5,966
		Energy - 6.2%
	121	Arena Resources, Inc. •		3,483
	4	ATP Oil & Gas Corp. •		30
	138	Atwood Oceanics, Inc. •		3,075
	59	Basic Energy Services, Inc. •		601
	77	Cabot Oil & Gas Corp.		2,328
	36	Carbo Ceramics, Inc.		1,108
	24	Clayton Williams Energy, Inc. •		718
	318	Complete Production Services, Inc. •		2,125
	40	Comstock Resources, Inc. •		1,392
	44	Concho Resources, Inc. •		1,214
	17	Contango Oil & Gas Co. •		648
	33	Dresser-Rand Group, Inc. •		804
	30	Dril-Quip, Inc. •		1,025
	90	Exco Resources, Inc. •		1,066
	30	Goodrich Petroleum Corp. •		684
	74	Helmerich & Payne, Inc.		2,267
	18	Lufkin Industries, Inc.		637
	277	Lundin Petroleum Ab. •		1,799
	67	Matrix Service Co. •		640
	36	NATCO Group, Inc. •		871
	20	Nordic American Tanker Shipping		660
	8	Penn Virginia Corp.		106
	30	RPC, Inc.		323
	103	St. Mary Land & Exploration Co.		1,845
	48	T-3 Energy Services, Inc. •		645
	122	USEC, Inc. •		755
	152	Vaalco Energy, Inc. •		723
	179	Wellstream Holdings plc		1,363
	110	Willbros Group, Inc. •		1,258
				34,193
		Food & Staples Retailing - 1.3%
	149	BJ’s Wholesale Club, Inc. •		4,974
	20	Pantry, Inc. •		474
	52	Spartan Stores, Inc.		840
	76	Winn-Dixie Stores, Inc. •		870
				7,158
		Food, Beverage & Tobacco - 2.0%
	26	Cal-Maine Foods, Inc.		681
	120	Darling International, Inc. •		688
	24	Diamond Foods, Inc.		639
	46	Flowers Foods, Inc.		1,056
	24	Green Mountain Coffee Roasters •		1,718
	29	Lancaster Colony Corp.		1,254
	109	Pepsi Bottling Group, Inc. •		3,416
	15	Ralcorp Holdings, Inc. •		873
	48	Vector Group Ltd.		641
				10,966
		Health Care Equipment & Services - 9.7%
	84	Align Technology, Inc. •		1,041
	160	Allscripts Misys Healthcare Solution		1,983
	25	Amedisys, Inc. •		829
	85	American Medical Systems Holdings •		1,055
	24	Athenahealth, Inc. •		763
	35	Beckman Coulter, Inc.		1,861
	28	Catalyst Health Solutions •		641
	37	Centene Corp. •		678
	35	Cerner Corp. •		1,878
	18	Chemed Corp.		757
	1	Computer Programs and Systems, Inc.		31
	79	CryoLife, Inc. •		428
	58	Cyberonics, Inc. •		763
	210	Eclipsys Corp. •		2,778
	22	Emergency Medical Services •		771
	23	Genoptix, Inc. •		671
	21	Haemonetics Corp. •		1,102
	174	Health Net, Inc. •		2,517
	317	HealthSouth Corp. •		2,970
	39	HMS Holdings Corp. •		1,166
	23	ICU Medical, Inc. •		865
	47	Immucor, Inc. •		772
	158	Inverness Medical Innovation, Inc. •		5,106
	4	Landauer, Inc.		194
	38	LHC Group, Inc. •		859
	55	Masimo Corp. •		1,595
	54	MedAssets, Inc. •		929
	34	NuVasive, Inc. •		1,290
	61	Omnicare, Inc.		1,557
	3	Owens & Minor, Inc.		89
	47	Phase Forward, Inc. •		676
	178	SSL International plc		1,251
	57	STERIS Corp.		1,371
	64	Thoratec Corp. •		1,873
	102	Varian Medical Systems, Inc. •		3,396
	30	Vnus Medical Technologies •		667
	331	Volcano Corp. •		4,372
	135	Zoll Medical Corp. •		2,169
				53,714
		Household & Personal Products - 0.4%
	225	American Oriental Bioengineering, Inc. •		953
	15	Chattem, Inc. •		824
	26	China Sky One Medical, Inc. •		363
				2,140
		Insurance - 1.9%
	85	Allied World Assurance Holdings Ltd.		3,148
	59	Arch Capital Group Ltd. •		3,411
	39	eHealth, Inc. •		747
	5	Employers Holdings, Inc.		44
	311	Lancashire Holdings Ltd. •		2,190
	36	Tower Group, Inc.		975
				10,515
		Materials - 2.1%
	14	Albemarle Corp.		376
	15	Arch Chemicals, Inc.		371
	54	Calgon Carbon Corp. •		911
	13	Compass Minerals Group, Inc.		620
	71	Eagle Materials, Inc.		1,984
	42	FMC Corp.		2,027
	69	Innophos Holdings, Inc.		1,023
	8	Newmarket Corp.		513
	18	Rock Tenn Co. Class A		688
	59	Scotts Miracle-Gro Co. Class A		1,996
	19	Silgan Holdings, Inc.		874
				11,383
		Media - 2.5%
	128	Discovery Communications, Inc. •		2,426

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

5

The Hartford Small Company Fund

Schedule of Investments — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

Shares or Principal Amount			Market Value ╪
COMMON STOCKS - 98.0% — (continued)
		Media - 2.5% — (continued)
	20	Dolan Media Co. •	$	240
	83	DreamWorks Animation SKG, Inc. •		1,987
	142	Interactive Data Corp.		3,197
	166	Marvel Entertainment, Inc. •		4,954
	52	National Cinemedia, Inc.		753
				13,557
		Pharmaceuticals, Biotechnology & Life Sciences - 9.1%
	32	Albany Molecular Research, Inc. •		313
	53	Alexion Pharmaceuticals, Inc. •		1,774
	242	Alkermes, Inc. •		1,849
	61	Auxilium Pharmaceuticals, Inc. •		1,407
	14	Bio-Rad Laboratories, Inc. Class A •		991
	343	Celera Corp. •		2,772
	46	Cephalon, Inc. •		3,003
	83	Cougar Biotechnology, Inc. •		2,891
	176	Cubist Pharmaceuticals, Inc. •		2,916
	37	Dendreon Corp. •		792
	14	Dionex Corp. •		894
	3	Emergent Biosolutions, Inc. •		35
	91	Enzon, Inc. •		522
	121	eResearch Technology, Inc. •		614
	100	Icon plc ADR •		1,581
	66	Isis Pharmaceuticals, Inc. •		1,036
	108	Life Technologies Corp. •		4,010
	1	Luminex Corp. •		17
	74	Martek Biosciences Corp.		1,339
	23	Maxygen, Inc. •		135
	172	Medicines Co. •		1,713
	83	Medicis Pharmaceutical Corp. Class A		1,334
	86	Myriad Genetics, Inc. •		3,353
	60	NPS Pharmaceuticals, Inc. •		209
	98	Onyx Pharmaceuticals, Inc. •		2,532
	114	OSI Pharmaceuticals, Inc. •		3,841
	129	PAREXEL International Corp. •		1,279
	120	PDL Biopharma, Inc.		855
	179	Questcor Pharmaceuticals •		804
	136	Regeneron Pharmaceuticals, Inc. •		1,802
	13	United Therapeutics Corp. •		839
	40	Valeant Pharmaceuticals International. •		670
	58	Vertex Pharmaceuticals, Inc. •		1,791
	49	VIVUS, Inc. •		197
				50,110
		Real Estate - 1.9%
	54	AMB Property Corp.		1,028
	311	Diamondrock Hospitality		2,016
	17	Equity Lifestyle Properties, Inc.		684
	75	LaSalle Hotel Properties		893
	73	Regency Centers Corp.		2,751
	29	Tanger Factory Outlet Center		975
	31	Washington Real Estate Investment Trust		652
	81	Weingarten Realty Investments		1,263
				10,262
		Retailing - 5.0%
	113	Advance Automotive Parts, Inc.		4,956
	232	Aeropostale, Inc. •		7,888
	189	American Eagle Outfitters, Inc.		2,796
	—	Cato Corp.		8
	1	Christopher & Banks Corp.		6
	124	Gymboree Corp. •		4,272
	105	Lumber Liquidators, Inc. •		1,576
	33	Netflix, Inc. •		1,488
	92	OfficeMax, Inc.		687
	59	PetMed Express, Inc. •		958
	24	Tractor Supply Co. •		973
	109	Urban Outfitters, Inc. •		2,123
	47	Wet Seal, Inc. Class A •		179
				27,910
		Semiconductors & Semiconductor Equipment - 3.4%
	219	Atheros Communications, Inc. •		3,776
	15	Cymer, Inc. •		429
	28	Hittite Microwave Corp. •		1,032
	39	Micrel, Inc.		292
	78	Microsemi Corp. •		1,044
	29	Netlogic Microsystems, Inc. •		932
	9	NVE Corp. •		355
	901	ON Semiconductor Corp. •		4,882
	155	PMC — Sierra, Inc. •		1,226
	3	Power Integrations, Inc.		62
	767	RF Micro Devices, Inc. •		1,618
	57	Semtech Corp. •		828
	164	Skyworks Solutions, Inc. •		1,453
	37	Ultratech Stepper, Inc. •		506
				18,435
		Software & Services - 12.2%
	59	ACI Worldwide, Inc. •		1,021
	34	Advent Software, Inc. •		1,117
	83	AsiaInfo Holdings, Inc. •		1,392
	28	Blackbaud, Inc.		430
	32	Blackboard, Inc. •		1,097
	39	Concur Technologies, Inc. •		1,066
	42	CSG Systems International, Inc. •		606
	48	CyberSource Corp. •		697
	51	DealerTrack Holdings, Inc. •		773
	26	Digital River, Inc. •		980
	106	Earthlink, Inc. •		806
	1	EPIQ Systems, Inc. •		16
	75	Equinix, Inc. •		5,284
	42	Factset Research Systems, Inc.		2,276
	8	Forrester Research, Inc. •		203
	76	Gartner, Inc. Class A •		1,027
	98	Informatica Corp. •		1,555
	58	j2 Global Communications, Inc. •		1,389
	78	Jack Henry & Associates, Inc.		1,399
	36	Macrovision Solutions Corp. •		737
	41	Manhattan Associates, Inc. •		674
	67	McAfee, Inc. •		2,517
	38	Mercadolibre, Inc. •		1,048
	195	Micros Systems. •		4,083
	59	Net 1 UEPS Technologies, Inc. •		981
	86	Netscout Systems, Inc. •		773
	138	Omniture, Inc. •		1,696
	86	Parametric Technology Corp. •		959
	38	Pegasystems, Inc.		658
	26	Quality Systems		1,380
	266	Red Hat, Inc. •		4,590
	75	S1 Corp. •		464
	158	Sapient Corp. •		808
	216	Solera Holdings, Inc. •		4,940

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

6

Shares or Principal Amount			Market Value ╪
COMMON STOCKS - 98.0% — (continued)
		Software & Services - 12.2% — (continued)
	1	SonicWALL, Inc. •	$	8
	22	SPSS, Inc. •		688
	59	Sybase, Inc. •		2,020
	34	Syntel, Inc.		955
	45	Taleo Corp. Class A •		545
	137	TiVo, Inc. •		1,031
	41	Tyler Corp. •		681
	128	VistaPrint Ltd. •		4,382
	89	Vocus, Inc. •		1,516
	79	Websense, Inc. •		1,406
	87	Wind River Systems, Inc. •		640
	164	Wright Express Corp. •		3,744
				67,058
		Technology Hardware & Equipment - 7.5%
	35	ADTRAN, Inc.		742
	61	Bigband Networks, Inc. •		356
	84	Cogent, Inc. •		956
	56	Cognex Corp.		785
	51	Cogo Group, Inc. •		420
	25	Comtech Telecommunications Corp. •		847
	60	Data Domain, Inc. •		991
	21	DG Fastchannel, Inc. •		498
	128	Harmonic, Inc. •		940
	6	Interdigital, Inc. •		164
	559	Jabil Circuit, Inc.		4,524
	199	Logitech International S.A. •		2,646
	29	Netezza Corp. •		235
	163	Nice Systems Ltd. •		4,187
	41	Novatel Wireless, Inc. •		284
	18	Osi Systems, Inc. •		339
	233	Plexus Corp. •		5,163
	283	Polycom, Inc. •		5,267
	64	Riverbed Technology, Inc. •		1,178
	31	Scansource, Inc. •		772
	599	Seagate Technology		4,886
	68	Starent Networks Corp. •		1,336
	40	Synaptics, Inc. •		1,301
	90	Western Digital Corp. •		2,123
				40,940
		Telecommunication Services - 2.4%
	39	Alaska Communication Systems Holdings, Inc.		237
	28	Cbeyond, Inc. •		565
	158	Centennial Cellular Corp. Class A •		1,306
	13	Consolidated Communications Holdings, Inc.		151
	69	Iowa Telecommunications Services, Inc.		903
	288	MetroPCS Communications, Inc. •		4,924
	40	Neutral Tandem, Inc. •		1,131
	50	NTELOS Holdings Corp.		806
	60	Premiere Global Services, Inc. •		628
	25	Shenandoah Telecommunications Co.		490
	69	Syniverse Holdings, Inc. •		868
	132	TW Telecom, Inc. •		1,213
				13,222
		Transportation - 3.0%
	68	Allegiant Travel Co. •		3,540
	186	Heartland Express, Inc.		2,777
	181	Hub Group, Inc. •		4,157
	145	J.B. Hunt Transport Services, Inc.		4,065
	49	Knight Transportation, Inc.		865
	33	Localiza Rent a Car S.A.		171
	3	Old Dominion Freight Line, Inc. •		94
	58	Werner Enterprises, Inc.		945
				16,614
		Utilities - 0.2%
	22	ITC Holdings Corp.		974
		Total common stocks (cost $537,097)	$	538,756
		Total long-term investments (cost $537,097)	$	538,756
SHORT-TERM INVESTMENTS - 2.1%
		Repurchase Agreements - 2.0%
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $1,165, collateralized by GNMA 4.50% — 6.50%, 2038 — 2039, value of $1,189)
$	1,165	0.18%, 04/30/2009	$	1,165
		BNP Paribas Securities Corp. Repurchase Agreement (maturing on 05/01/2009 in the amount of $4,693, collateralized by U.S. Treasury Bond 5.38%, 2031, value of $4,782)		��
	4,693	0.15%, 04/30/2009		4,693
		BNP Paribas Securities Corp. TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $1,395, collateralized by FHLMC 4.50% — 6.50%, 2035 — 2039, FNMA 4.50% — 6.50%, 2034 — 2047, value of $1,423)
	1,395	0.17%, 04/30/2009		1,395
		Deutsche Bank Securities TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $1,949, collateralized by FHLMC 4.00% — 7.00%, 2021 — 2039, FNMA 6.00% — 7.00%, 2034 — 2038, GNMA 4.50% — 7.00%, 2024 — 2039, value of $1,988)
	1,949	0.17%, 04/30/2009		1,949
		UBS Securities, Inc. Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $7, collateralized by U.S. Treasury Bond 7.50%, 2024, value of $7)
	7	0.14%, 04/30/2009		7
		UBS Securities, Inc. Repurchase Agreement (maturing on 05/01/2009 in the amount of $1,313, collateralized by U.S. Treasury Bond 7.50%, 2024, value of $1,342)
	1,313	0.13%, 04/30/2009		1,313

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

7

The Hartford Small Company Fund

Schedule of Investments — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

Shares or Principal Amount					Market Value ╪
SHORT-TERM INVESTMENTS - 2.1% — (continued)
		Repurchase Agreements - 2.0% — (continued)
		UBS Securities, Inc. TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $420, collateralized by FHLMC 8.00% — 15.00%, 2009 — 2021, FNMA 3.50% — 15.50%, 2012 — 2039, value of $429)
$	420	0.16%, 04/30/2009			$	420
						10,942
		U.S. Treasury Bills - 0.1%
	750	0.18%, 07/16/2009 ▢o				750
		Total short-term investments (cost $11,692)			$	11,692
		Total investments (cost $548,789)▲	100.1	%	$	550,448
		Other assets and liabilities	(0.1	)%		(718	)
		Total net assets	100.0	%	$	549,730

Note: Percentage of investments as shown is the ratio of the total market value to total net assets. Market value of investments in foreign securities represents 3.67% of total net assets at April 30, 2009.

Foreign securities that are principally traded on certain foreign markets are adjusted daily pursuant to a third party pricing service methodology approved by the Board of Directors in order to reflect an adjustment for factors occurring after the close of the foreign market but before the close of the New York Stock Exchange.

▲ At April 30, 2009, the cost of securities for federal income tax purposes was $557,844 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	51,195
Unrealized Depreciation		(58,591	)
Net Unrealized Depreciation	$	(7,396	)

•	Currently non-income producing.
o	The interest rate disclosed for these securities represents the effective yield on the date of the acquisition.
▢	Security pledged as initial margin deposit for open futures contracts at April 30, 2009.

Futures Contracts Outstanding at April 30, 2009

					Unrealized
	Number of			Expiration	Appreciation/
Description	Contracts*		Position	Month	(Depreciation)
Russell 2000 Mini		78	Long	Jun 2009	$	393

* The number of contracts does not omit 000’s.

╪ See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of securities.

FAS 157 Disclosure of Investment Valuation Hierarchy Levels

Assets:
Investment in securities — Level 1	$	532,153
Investment in securities — Level 2		18,295
Total	$	550,448
Other financial instruments — Level 1 *	$	393
Total	$	393

* Other financial instruments are derivative instruments not reflected in the Schedule of Investments, such as futures, forwards and swap contracts, which are valued at the unrealized appreciation/depreciation on the investment.

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

8

The Hartford Small Company Fund

Statement of Assets and Liabilities
April 30, 2009 (Unaudited)
(000’s Omitted)

Assets:
Investments in securities, at fair value (cost $548,789)	$	550,448
Cash		2,928
Receivables:
Investment securities sold		32,921
Fund shares sold		988
Dividends and interest		144
Variation margin		24
Other assets		189
Total assets		587,642
Liabilities:
Payables:
Investment securities purchased		36,997
Fund shares redeemed		588
Investment management fees		72
Distribution fees		20
Variation margin		43
Accrued expenses		192
Total liabilities		37,912
Net assets	$	549,730
Summary of Net Assets:
Capital stock and paid-in-capital		824,414
Accumulated net investment loss		(1,161	)
Accumulated net realized loss on investments and foreign currency transactions		(275,574	)
Unrealized appreciation of investments and the translation of assets and liabilities denominated in foreign currency		2,051
Net assets	$	549,730
Shares authorized		500,000
Par value	$	0.001
Class A: Net asset value per share/Maximum offering price per share	$	12.15/$12.85
Shares outstanding		20,226
Net assets	$	245,664
Class B: Net asset value per share	$	10.85
Shares outstanding		1,535
Net assets	$	16,648
Class C: Net asset value per share	$	10.83
Shares outstanding		3,310
Net assets	$	35,835
Class I: Net asset value per share	$	12.24
Shares outstanding		880
Net assets	$	10,778
Class R3: Net asset value per share	$	12.86
Shares outstanding		655
Net assets	$	8,421
Class R4: Net asset value per share	$	12.97
Shares outstanding		2,016
Net assets	$	26,154
Class R5: Net asset value per share	$	13.06
Shares outstanding		647
Net assets	$	8,449
Class Y: Net asset value per share	$	13.11
Shares outstanding		15,089
Net assets	$	197,781

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

9

The Hartford Small Company Fund

Statement of Operations
For the Six Month Period Ended April 30, 2009 (Unaudited)
(000’s Omitted)

Investment Income:
Dividends	$	1,815
Interest		12
Securities lending		49
Less: Foreign tax withheld		(32	)
Total investment income		1,844
Expenses:
Investment management fees		2,052
Transfer agent fees		647
Distribution fees
Class A		287
Class B		84
Class C		173
Class R3		12
Class R4		26
Custodian fees		22
Accounting services		40
Registration and filing fees		58
Board of Directors’ fees		4
Audit fees		8
Other expenses		119
Total expenses (before waivers and fees paid indirectly)		3,532
Expense waivers		(287	)
Transfer agent fee waivers		(199	)
Commission recapture		(41	)
Custodian fee offset		—
Total waivers and fees paid indirectly		(527	)
Total expenses, net		3,005
Net investment loss		(1,161	)
Net Realized Loss on Investments, Other Financial Instruments and Foreign Currency Transactions:
Net realized loss on investments in securities		(178,369	)
Net realized loss on futures		(227	)
Net realized loss on foreign currency transactions		(4	)
Net Realized Loss on Investments, Other Financial Instruments and Foreign Currency Transactions		(178,600	)
Net Changes in Unrealized Appreciation of Investments and Other Financial Instruments:
Net unrealized appreciation of investments		140,757
Net unrealized appreciation of futures		199
Net unrealized appreciation on translation of other assets and liabilities in foreign currencies		—
Net Changes in Unrealized Appreciation of Investments and Other Financial Instruments		140,956
Net Loss on Investments, Other Financial Instruments and Foreign Currency Transactions		(37,644	)
Net Decrease in Net Assets Resulting from Operations	$	(38,805	)

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

10

The Hartford Small Company Fund

Statement of Changes in Net Assets

(000’s Omitted)

	For the Six-Month
	Period Ended			For the
	April 30, 2009			Year Ended
	(Unaudited)			October 31, 2008
Operations:
Net investment loss	$	(1,161	)	$	(2,066	)
Net realized loss on investments, other financial instruments and foreign currency transactions		(178,600	)		(94,199	)
Net unrealized appreciation (depreciation) of investments and other financial instruments		140,956			(215,903	)
Net decrease in net assets resulting from operations		(38,805	)		(312,168	)
Distributions to Shareholders:
From net realized gain on investments
Class A		—			(32,052	)
Class B		—			(6,169	)
Class C		—			(7,503	)
Class I		—			(439	)
Class R3		—			(20	)
Class R4		—			(1,013	)
Class R5		—			(56	)
Class Y		—			(19,626	)
Total distributions		—			(66,878	)
Capital Share Transactions:
Class A		(7,307	)		159,043
Class B		(2,551	)		(8,767	)
Class C		(1,940	)		12,119
Class I		(11	)		13,691
Class R3		5,269			4,087
Class R4		8,497			18,065
Class R5		1,379			10,131
Class Y		41,558			89,740
Net increase from capital share transactions		44,894			298,109
Net increase (decrease) in net assets		6,089			(80,937	)
Net Assets:
Beginning of period		543,641			624,578
End of period	$	549,730		$	543,641
Accumulated undistributed (distribution in excess of) net investment income (loss)	$	(1,161	)	$	—

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

11

The Hartford Small Company Fund

Notes to Financial Statements — (Unaudited)
April 30, 2009
(000’s Omitted)

1. Organization:

The Hartford Mutual Funds, Inc. (“Company”) is an open-end management investment company comprised of fifty-two portfolios. Financial statements for The Hartford Small Company Fund (the “Fund”), a series of the Company, are included in this report.

The Company is organized under the laws of the State of Maryland and is registered with the Securities and Exchange Commission (“SEC”) under the Investment Company Act of 1940, as amended (“1940 Act”). The Fund is a diversified open-end management investment company.

Class A shares are sold with a front-end sales charge of up to 5.50%. Class B shares are sold with a contingent deferred sales charge which is assessed on the lesser of the per share net asset value (“NAV”) of the shares at the time of redemption or the original purchase price, and declines from up to 5.00% to zero depending on the period of time the shares are held. Class C shares are sold with a contingent deferred sales charge of up to 1.00% on shares redeemed within twelve months of purchase. Class I shares are sold without sales charges to certain eligible investors through advisory fee-based wrap programs. Classes R3, R4, R5 shares, which are offered to employer-sponsored retirement plans, and Class Y shares, which are sold to certain eligible institutional investors, are sold without a sales charge. All classes of shares have identical voting, redemption, dividend, liquidation and other rights and the same terms and conditions, with the exceptions that each class may have different expenses, which may affect performance, and except that Class B shares automatically convert to Class A shares after 8 years.

Effective at the close of business on September 30, 2009 (the “Close Date”), no new or additional investments will be allowed in Class B shares of The Hartford Mutual Funds (including investments through any systematic investment plan). After the Close Date, existing shareholders of Class B shares may continue to hold their Class B shares, exchange their Class B shares for Class B shares of another Hartford Mutual Fund (as permitted by existing exchange privileges), and redeem their Class B shares as described in the Fund’s prospectus. Reinstatement privileges with respect to Class B shares will continue under the current policy. If you have chosen to reinvest capital gains and dividends, any such capital gains or dividends on Class B shares will continue to be reinvested in Class B shares of the Fund. For Class B shares outstanding as of the Close Date, all Class B share attributes, including the 12b-1 fee, contingent deferred sales charge schedule, and conversion to Class A shares remain unchanged.

2. Significant Accounting Policies:

The following is a summary of significant accounting policies of the Fund, which are in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”).

a)	Security Transactions and Investment Income - Security transactions are recorded on the trade date (the date the order to buy or sell is executed). Security gains and losses are determined on the basis of identified cost.
	Dividend income is accrued as of the ex-dividend date, except that certain dividends for foreign securities where the ex-dividend date may have passed are recorded as soon as the Fund is informed of the dividend in the exercise of reasonable diligence. Interest income, including amortization of premium and accretion of discounts, is accrued on a daily basis.
b)	Security Valuation - The Fund generally uses market prices in valuing portfolio securities. If market prices are not readily available or are deemed unreliable, the Fund will use the fair value of the security as determined in good faith under policies and procedures established by and under the supervision of the Fund’s Board of Directors. Market prices may be deemed unreliable, for example, if a security is thinly traded or if an event has occurred after the close of the security’s primary markets, but before the close of the New York Stock Exchange (the “Exchange”) (normally 4:00 p.m. Eastern Time, referred to as the “Valuation Time”) that is expected to affect the value of the portfolio security. The circumstances in which the Fund may use fair value pricing include, among others: (i) the occurrence of events that are significant to a particular issuer, such as mergers, restructuring or defaults; (ii) the occurrence of events that are

12

significant to an entire market, such as natural disasters in a particular region or governmental actions; (iii) trading restrictions on securities; (iv) thinly traded securities and (v) market events such as trading halts and early market closings. In addition, with respect to the valuation of stocks primarily traded on foreign markets, the Fund uses a fair value pricing service approved by the Fund’s Board of Directors, which employs quantitative models that evaluate changes in the value of foreign market proxies (e.g., futures contracts, ADR’s, exchange traded funds (“ETF’s”)) after the close of the foreign markets but before the close of the Exchange. Securities that are primarily traded on foreign markets may trade on days that are not business days of the Fund. The value of the foreign securities in which the Fund invests may change on days when a shareholder will not be able to purchase or redeem shares of the Fund. Fair value pricing is subjective in nature and the use of fair value pricing by the Fund may cause the NAV of its shares to differ significantly from the NAV that would have been calculated using market prices at the close of the exchange on which a portfolio security is primarily traded but before the close of the Exchange. There can be no assurance that the Fund could obtain the fair value assigned to a security if the Fund were to sell the security at approximately the time at which the Fund determines its NAV.

Debt securities (other than short-term obligations) held by the Fund are valued on the basis of valuations furnished by an independent pricing service which determines valuations for normal institutional size trading units of debt securities. Securities for which prices are not available from an independent pricing service are valued using market quotations obtained from one or more dealers that make markets in the securities in accordance with procedures established by the Fund’s Board of Directors. Generally, the Fund may use fair valuation in regard to debt securities when the Fund holds defaulted or distressed securities or securities in a company in which a reorganization is pending. Short-term investments with a maturity of more than 60 days when purchased are valued based on market quotations until the remaining days to maturity become less than 61 days. Investments that mature in 60 days or less are valued at amortized cost, which approximates market value.

Exchange traded equity securities shall be valued at the last reported sale price on the exchange or market on which the security is primarily traded (the “Primary Market”) at the Valuation Time. If the security did not trade on the Primary Market, it may be valued at the Valuation Time at the last reported sale price on another exchange where it trades. The value of an equity security not traded on any exchange but traded on the Nasdaq Stock Market, Inc. (“Nasdaq”) or another over-the-counter market shall be valued at the last reported sale price or official closing price on the exchange or market on which the security is traded as of the Valuation Time. If it is not possible to determine the last reported sale price or official closing price on the relevant exchange or market at the Valuation Time, the value of the security shall be taken to be the most recent mean between bid and asked prices on such exchange or market at the Valuation Time.

Securities of foreign issuers and non-dollar securities are translated from the local currency into U.S. dollars using prevailing exchange rates.

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

A forward currency contract shall be valued based on the price of the underlying currency at the prevailing interpolated exchange rate, which is a combination of the spot currency rate and the forward currency rate. Spot currency rates and forward currency rates are obtained from an independent pricing service on a daily basis not more than one hour before the Valuation Time.

Other derivative or contractual type instruments shall be valued using market prices if such instruments trade on an exchange or market. If such instruments do not trade on an exchange or market, such instruments shall be valued at a price at which the counterparty to such contract would repurchase the instrument. In the event that the counterparty cannot provide a price, such valuation may be determined in accordance with procedures established by the Fund’s Board of Directors.

13

The Hartford Small Company Fund

Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

c)	Foreign Currency Transactions - The accounting records of the Fund are maintained in U.S. dollars. All assets and liabilities initially expressed in foreign currencies are converted into U.S. dollars at the prevailing exchange rates. Purchases and sales of investment securities, dividend and interest income and certain expenses are translated at the rates of exchange prevailing on the respective dates of such transactions.
	The Fund does not isolate that portion of portfolio security valuation resulting from fluctuations in the foreign currency exchange rates on portfolio securities from the fluctuations arising from changes in the market prices of securities held. Such fluctuations are included with the net realized and unrealized gain or loss on investments in the accompanying financial statements.
	Net realized foreign exchange gains or losses arise from sales of foreign currencies and the difference between asset and liability amounts initially stated in foreign currencies and the U.S. dollar value of the amounts actually received or paid. Net unrealized foreign exchange gains or losses arise from changes in the value of other assets and liabilities at the end of the reporting period, resulting from changes in the exchange rates.
d)	Securities Lending - The Fund may lend its securities to certain qualified brokers who pay the Fund negotiated lender fees. The loans are fully collateralized at all times with cash and/or U.S. Government Securities and/or repurchase agreements. The cash collateral is then invested in short-term money market instruments. The repurchase agreements are fully collateralized by U.S. Government Securities. The adequacy of the collateral for securities on loan is monitored on a daily basis. For instances where the market value of collateral falls below the market value of the securities out on loan, such collateral is supplemented on the following business day.
	While securities are on loan, the Fund is subject to the following risks: 1) that the borrower may default on the loan and that the collateral could be inadequate in the event the borrower defaults, 2) that the earnings on the collateral invested may not be sufficient to pay fees incurred in connection with the loan, 3) that the principal value of the collateral invested may decline and may not be sufficient to pay back the borrower for the amount of the collateral posted, 4) that the borrower may use the loaned securities to cover a short sale which may place downward pressure on the market prices of the loaned securities, 5) that return of loaned securities could be delayed and could interfere with portfolio management decisions and 6) that any efforts to recall the securities for purposes of voting a proxy may not be effective. The Fund had no securities out on loan as of April 30, 2009.
e)	Joint Trading Account - Pursuant to an exemptive order issued by the SEC, the Fund may transfer uninvested cash balances into a joint trading account managed by Hartford Investment Management Company (“Hartford Investment Management”) or Wellington Management Company, LLP (“Wellington”). These balances may be invested in one or more repurchase agreements and/or short-term money market instruments.
f)	Repurchase Agreements - A repurchase agreement is an agreement by which the seller of a security agrees to repurchase the security sold at a mutually agreed upon time and price. At the time the Fund enters into a repurchase agreement, the value of the underlying collateral security(ies), including accrued interest, will be equal to or exceed the value of the repurchase agreement. Securities that serve to collateralize the repurchase agreement are held by the Fund’s custodian in book entry or physical form in the custodial account of the Fund or in a third party custodial account. Repurchase agreements are valued at cost plus accrued interest. The Fund, as shown on the Schedule of Investments, had outstanding repurchase agreements as of April 30, 2009.
g)	Forward Foreign Currency Contracts - The Fund may enter into forward foreign currency contracts that obligate the Fund to repurchase/replace or sell currencies at specified future dates. Forward foreign currency contracts may be used to hedge against adverse fluctuations in exchange rates between currencies.
	Forward foreign currency contracts involve elements of market risk in excess of the amount reflected in the Statement of Assets and Liabilities. In addition, risks may arise upon entering into these contracts from the potential inability of the

14

	counterparties to meet the terms of the contracts and from unanticipated movements in the value of the foreign currencies relative to the U.S. dollar.
h)	Indexed Securities - The Fund may invest in indexed securities whose values are linked to changes in interest rates, indices, or other underlying instruments. The Fund uses these securities to increase or decrease its exposure to different underlying instruments and to gain exposure to markets that might be difficult to invest in using conventional securities. Indexed securities may be more volatile than their underlying instruments, but any loss is limited to the amount of the original investment and there may be a limit to the potential appreciation of the investment. The Fund had no investments in indexed securities as of April 30, 2009.
i)	Fund Share Valuation and Dividend Distributions to Shareholders - Orders for the Fund’s shares are executed in accordance with the investment instructions of the shareholders. The NAV of the Fund’s shares is determined as of the close of each business day of the Exchange. The NAV is determined separately for each class of the Fund by dividing the Fund’s net assets attributable to that class by the number of shares of the class outstanding. Orders for the purchase of the Fund’s shares prior to the close of the Exchange on any day on which the Exchange is open for business are priced at the NAV determined as of the close of the Exchange. Orders after the close of the Exchange, or on a day on which the Exchange and/or the Fund is not open for business, are priced at the next determined NAV.
	The Fund intends to distribute substantially all of its net investment income and net realized capital gains to shareholders no less frequently than once a year. Normally, dividends from net investment income are declared and paid annually. Dividends are paid on shares beginning on the business day after the day when the funds used to purchase the shares are collected by the transfer agent for the Fund. Unless shareholders specify otherwise, all dividends will be automatically reinvested in additional full or fractional shares of the Fund.
	Distributions from net investment income, realized capital gains and capital are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP with respect to character and timing. These differences include but are not limited to foreign currency gains and losses, losses deferred due to wash sales adjustments, adjustments related to Passive Foreign Investment Companies and certain derivatives, and excise tax regulations. Permanent book and federal income tax basis differences relating to shareholder distributions will result in reclassifications to certain of the Fund’s capital accounts (see Federal Income Taxes: Reclassification of Capital Accounts footnote).
j)	Use of Estimates - The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and the reported amounts of income and expenses during the period. Operating results in the future could vary from the amounts derived from management’s estimates.
k)	Financial Accounting Standards Board Financial Accounting Standards No. 157 - Effective November 1, 2008, the Fund adopted Financial Accounting Standards Board (“FASB”) Statement of Financial Accounting Standards No. 157, “Fair Value Measurements” (“FAS 157”). This standard clarifies the definition of fair value for financial reporting, establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements. Fair value is defined under FAS 157 as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Under FAS 157, a fair value measurement should reflect all of the assumptions that market participants would use in pricing the asset or liability, including assumptions about the risk inherent in a particular valuation technique, the effect of a restriction on the sale or use of an asset, and the risk of nonperformance.
	Various inputs are used in determining the value of the Fund’s investment. These inputs are summarized, per FAS 157, into three broad hierarchy levels. This hierarchy is based on whether the valuation inputs are observable or unobservable. These levels are:

15

The Hartford Small Company Fund

Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

• Level 1 — Quoted prices in active markets for identical securities. Level 1 includes exchange-traded instruments such as domestic equities, some foreign equities, options, futures, mutual funds, ETF’s, and rights and warrants.

• Level 2 — Observable inputs other than Level 1 prices, such as quoted prices for similar securities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the security. Level 2 includes debt securities that are traded less frequently than exchange-traded instruments and that are valued using third party pricing services and foreign equities, whose value is determined using a multi-factor regression model with inputs that are observable in the market; and money market instruments, which are carried at amortized cost.

• Level 3 — Significant unobservable inputs that are supported by little or no market activity. Level 3 includes financial instruments whose values are determined using broker quotes and require significant management judgment or estimation. This category includes broker quoted securities, long dated OTC options and securities where trading has been halted or there are certain restrictions on trading. While these securities are priced using unobservable inputs, the valuation of these securities reflects the best available data and management believes the prices are a good representation of exit price.

	Individual securities within any of the above mentioned asset classes may be assigned a different hierarchical level than those presented above, as individual circumstances dictate.
	FAS 157 also requires that a roll forward reconciliation be shown for all Level 3 securities from the beginning of the reporting period to the end of the reporting period. Part of this reconciliation includes transfers in and/or out of Level 3. For purposes of this reconciliation, transfers in are shown at the end of period fair value and transfers out are shown at the beginning of period fair value. During the six-month period ended April 30, 2009, the Fund held no Level 3 securities.
	Refer to the valuation hierarchy levels summary found following the Schedule of Investments.
	FASB Staff Position No. 157-4 - In April 2009, FASB released FASB Staff Position No. 157-4, “Determining Fair Value When the Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly” (“FSP FAS 157-4”). FSP FAS 157-4 provides additional guidance on determining whether a market for a financial asset is not active and a transaction is not distressed when measuring fair value under FAS 157. The FSP also requires additional disclosure detail on debt and equity securities by major investment categories. FSP FAS 157-4 is effective for interim and annual periods ending after June 15, 2009. At this time, management is evaluating the implications of FSP FAS 157-4 and does not believe it will impact valuation but will require additional disclosure. This additional disclosure has not yet been implemented.
l)	Financial Accounting Standards Board Financial Accounting Standards No. 161 - In March 2008, the FASB released Statement of Financial Accounting Standards No. 161, “Disclosures about Derivative Instruments and Hedging Activities” (“FAS 161”). FAS 161 requires companies to disclose information detailing the objectives and strategies for using derivative instruments, the level of derivative activity entered into by the company and any credit risk-related contingent features of the agreements. The application of FAS 161 is required for fiscal years and interim periods beginning after November 15, 2008. At this time, management is evaluating the implications of FAS 161 and has not yet implemented the new disclosure standard.
m)	Indemnifications: Under the Company’s organizational documents, the Company shall indemnify its officers and directors to the full extent required or permitted under Maryland General Corporation Law and the federal securities law. In addition, the Company, on behalf of the Fund, may enter into contracts that contain a variety of indemnifications. The Company’s maximum exposure under these arrangements is unknown. However, the Company has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote.

16

3. Futures and Options:

Futures and Options Transactions - The Fund may invest in futures and options contracts in order to gain exposure to or protect against changes in the market. A futures contract is an agreement between two parties to buy and sell a security at a set price on a future date. When the Fund enters into such futures contracts, it is required to deposit with a futures commission merchant an amount of “initial margin” of cash, commercial paper or U.S. Treasury Bills. Subsequent payments, called variation margin, to and from the broker, are made on a daily basis as the price of the underlying security fluctuates, making the long and short positions in the futures contract more or less valuable (i.e., mark-to-market), which results in an unrealized gain or loss to the Fund.

At any time prior to the expiration of the futures contract, the Fund may close the position by taking an opposite position, which would effectively terminate the position in the futures contract. A final determination of variation margin is then made, additional cash is required to be paid by or released to the Fund and the Fund realizes a gain or loss.

The use of futures contracts involves elements of market risk, which may exceed the amounts recognized in the Statement of Assets and Liabilities. Changes in the value of the futures contracts may decrease the effectiveness of the Fund’s strategy and potentially result in loss. The Fund, as shown on the Schedule of Investments, had outstanding futures contracts as of April 30, 2009.

The premium paid by the Fund for the purchase of a call or put option is included in the Fund’s Statement of Assets and Liabilities as an investment and subsequently “marked-to-market” through net unrealized appreciation (depreciation) of options to reflect the current market value of the option as of the end of the reporting period.

The Fund may write (sell) covered options. “Covered” means that so long as the Fund is obligated as the writer of an option, it will own either the underlying securities or currency or an option to purchase or sell the same underlying securities or currency having an expiration date of the covered option and an exercise price equal to or less than the exercise price of the covered option, or will pledge cash or other liquid securities having a value equal to or greater than the fluctuating market value of the option securities or currencies. The Fund receives a premium for writing a call or put option, which is recorded on the Fund’s Statement of Assets and Liabilities and subsequently “marked-to-market” through net unrealized appreciation (depreciation) of options. There is a risk of loss from a change in the value of such options, which may exceed the related premiums received. As of April 30, 2009, there were no outstanding written options contracts.

4. Federal Income Taxes:

a) Federal Income Taxes - For federal income tax purposes, the Fund intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code (“IRC”) by distributing substantially all of its taxable net investment income and net realized capital gains to its shareholders and otherwise complying with the requirements of regulated investment companies. The Fund has distributed substantially all of its income and capital gains in prior years and the Fund intends to distribute substantially all of its income and gains during the calendar year ending December 31, 2009. Accordingly, no provision for federal income or excise taxes has been made in the accompanying financial statements. Distributions from short-term capital gains are treated as ordinary income distributions for federal income tax purposes.

17

The Hartford Small Company Fund

Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

b) The tax character of distributions paid by the Fund for the periods indicated is as follows (as adjusted for dividends payable):

	For the Year Ended		For the Year Ended
	October 31, 2008		October 31, 2007
Ordinary Income	$	43,260	$	—
Long-Term Capital Gains *		23,618		34,670

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

As of October 31, 2008, the Fund’s components of distributable earnings (deficit) on a tax basis were as follows:

	Amount
Accumulated Capital Losses*	$	(87,726	)
Unrealized Depreciation†	$	(148,153	)
Total Accumulated Deficit	$	(235,879	)

*	The Fund has capital loss carryforwards that are identified in the Capital Loss Carryforward note that follows.
†	The differences between book-basis and tax-basis unrealized appreciation (depreciation) are attributable to the tax deferral of wash sales losses, the mark-to-market adjustment for certain derivatives in accordance with IRC Sec. 1256, the mark to market for Passive Foreign Investment Companies and basis differences in real estate investment trusts.

c)

Reclassification of Capital Accounts - In accordance with American Institute of Certified Public Accountants (AICPA) Statement of Position 93-2, Determination, Disclosure, and Financial Statement Presentation of Income, Capital Gain, and Return of Capital Distributions by Investment Companies, the Fund has recorded reclassifications in its capital accounts. These reclassifications had no impact on the NAV of the Fund. The reclassifications are a result of permanent differences between GAAP and tax accounting for such items as net operating losses that reduce distribution requirements. Adjustments are made to reflect the impact these items have on current and future distributions to shareholders. Therefore, the source of the Fund’s distributions may be shown in the accompanying Statement of Changes in Net Assets as from net investment income, from net realized gains on investments or from capital depending on the type of book and tax differences that exist. As of October 31, 2008, the Fund recorded reclassifications to increase undistributed net investment income by $2,066, increase accumulated net realized gain by $50, and decrease paid in capital by $2,116.

d)

Capital Loss Carryforward - At October 31, 2008 (tax-year-end), the Fund had capital loss carryforwards for U.S. federal income tax purposes of approximately:

Year	Amount
2016	$	87,726
Total	$	87,726

e) Financial Accounting Standards Board Interpretation No. 48 - On July 13, 2006, the FASB released FASB Interpretation No. 48 “Accounting for Uncertainty in Income Taxes” (“FIN 48”). FIN 48 provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. The Fund adopted FIN 48 for fiscal years beginning after December 15, 2006. Management has evaluated the implications of FIN 48 for all open tax years (tax years ended October 31, 2006 — 2008) and has determined there is no impact to the Fund’s financial statements.

18

5. Expenses:

a)

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

The schedule below reflects the rates of compensation paid to HIFSCO for investment management services rendered during the six-month period ended April 30, 2009; the rates are accrued daily and paid monthly:

Average Daily Net Assets	Annual Fee
On first $250 million		0.8500	%
On next $250 million		0.8000	%
On next $500 million		0.7500	%
On next $500 million		0.7000	%
On next $3.5 billion		0.6500	%
On next $5 billion		0.6300	%
Over $10 billion		0.6200	%

b) Accounting Services Agreement - Pursuant to the Fund Accounting Agreement between Hartford Life Insurance Company (“HLIC”) and the Fund, HLIC provides accounting services to the Fund and receives monthly compensation on the Fund’s average net assets. The Fund’s accounting service fees are accrued daily and paid monthly.

Average Daily Net Assets	Annual Fee
On first $5 billion		0.016	%
On next $5 billion		0.014	%
Over $10 billion		0.012	%

c) Operating Expenses - Allocable expenses incurred by the Company are allocated to each Fund and allocated to classes within the Fund in proportion to the average daily net assets of the Fund and each class, except where allocation of certain expenses is more fairly made directly to the Fund or to specific classes within a Fund. During the six-month period ended April 30, 2009, HIFSCO has contractually limited the total operating expenses of this Fund, exclusive of taxes, interest expense, brokerage commissions, certain distribution expenses and extraordinary expenses as follows:

Class A	Class B			Class C			Class I			Class R3			Class R4			Class R5			Class Y
1.40%		2.15	%		2.15	%		1.15	%		1.65	%		1.35	%		1.05	%		1.00	%

d) Fees Paid Indirectly - The Fund has entered into agreements with State Street Global Markets, LLC and Russell Implementation Services Inc. to partially recapture non-discounted trade commissions. Such rebates are used to pay a portion of the Fund’s expenses. In addition, the Fund’s custodian bank has also agreed to reduce its fees when the Fund maintains cash on deposit in the non-interest-bearing custody account. For the six-month period ended April 30, 2009, these amounts are included in the Statement of Operations.

19

The Hartford Small Company Fund

Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

The ratio of expenses to average net assets in the accompanying financial highlights excludes the reduction in expenses related to fees paid indirectly. Had the fees paid indirectly been included, the annualized expense ratio for the periods listed below would have been as follows:

	Annualized
	Six-Month
	Period			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended
	Ended April			October 31,			October 31,			October 31,			October 31,			October 31,
	30, 2009			2008			2007			2006			2005			2004
Class A Shares		1.28	%		1.38	%		1.39	%		1.37	%		1.35	%		1.40	%
Class B Shares		1.69			2.01			2.11			2.12			2.10			2.10
Class C Shares		2.00			2.14			2.14			2.11			2.10			2.10
Class I Shares		1.07			1.15			1.12			1.10	*
Class R3 Shares		1.65			1.65			1.65	†
Class R4 Shares		1.31			1.28			1.36	‡
Class R5 Shares		1.05			0.99			1.10	§
Class Y Shares		0.91			0.88			0.90			0.91			0.92			0.94

*	From August 31, 2006 (commencement of operations), through October 31, 2006
†	From December 22, 2006 (commencement of operations), through October 31, 2007
‡	From December 22, 2006 (commencement of operations), through October 31, 2007
§	From December 22, 2006 (commencement of operations), through October 31, 2007

e)	Distribution and Service Plan for Class A, B, C, R3 and R4 Shares - HIFSCO is the principal underwriter and distributor of the Fund. HIFSCO is engaged in distribution activities, which include marketing and distribution of shares through broker-dealers, financing distribution costs and maintaining financial books and records. For the six-month period ended April 30, 2009, HIFSCO received front-end load sales charges of $182 and contingent deferred sales charges of $18 from the Fund.
	The Fund has adopted Distribution and Service Plans in accordance with Rule 12b-1 of the Investment Company Act of 1940, as amended, to compensate the distributor (HIFSCO) for activities intended to result in the sale and distribution of Classes A, B, C, R3 and R4 shares and for providing services for shareholders. The Rule 12b-1 plan applicable to Class A shares of the Funds provides for payment of a Rule 12b-1 fee of up to 0.35% of average daily net assets; however, the Board of Directors has currently authorized 12b-1 payments of only up to 0.25%. Some or all of the fee may be used for shareholder servicing expenses with the remainder used for distribution expenses. Some or the entire Rule 12b-1 fee for Class B shares may be remitted to broker-dealers for distribution and/or shareholder account services. Under the Class B Plan, the Fund pays the distributor 1.00% of the average daily net assets of Class B shares that are outstanding for 8 years or less, 0.25% of which is a fee for services provided to existing shareholders with the remainder used for distribution expenses. After eight years, Class B shares convert to Class A shares. Upon conversion to Class A shares, the Class A plan described above will apply to those shares. Under the Class C Plan, the Fund pays the distributor 1.00% of the average daily net assets of Class C shares outstanding, 0.25% of which is intended as a fee for services provided to existing shareholders with the remainder used for distribution expenses. For Class C shares, some or the entire fee may be remitted to broker-dealers for distribution and/or shareholder account services. Class R3 shares have a distribution fee of 0.50% and Class R4 shares have a distribution fee of 0.25%. For Classes R3 and R4 shares, some or the entire fee may be remitted to broker dealers for distribution and/or shareholder account services. The Fund’s 12b-1 fees are accrued daily and paid monthly.
	For the six-month period ended April 30, 2009, total sales commissions paid to affiliated brokers/dealers of The Hartford for distributing the Fund’s shares were $10. These commissions are in turn paid to sales representatives of the broker/dealers.

20

f) Other Related Party Transactions - Certain officers of the Fund are directors and/or officers of HIFSCO and/or The Hartford or its subsidiaries. For the six-month period ended April 30, 2009, a portion of the Fund’s chief compliance officer’s salary was paid by the Fund in the amount of $1. Hartford Administrative Services Company (“HASCO”), an indirect wholly owned subsidiary of The Hartford, provides transfer agent services to the Fund. HASCO was compensated $499 for providing such services. These fees are accrued daily and paid monthly.

g)	Payments from Affiliate:
	The total return in the accompanying financial highlights includes payment from affiliates. Had the payment from affiliates been excluded, the total return for the periods listed below would have been as follows:

				Impact from
				Payment from
	Impact from			Affiliate for			Total Return
	Payment from			Trading			Excluding
	Affiliate for SEC			Reimbursements			Payment from
	Settlement for the			for the			Affiliate for the
	Year Ended			Year Ended			Year Ended
	October 31, 2007			October 31, 2007			October 31, 2007
Class A		0.16	%		0.22	%		23.41	%
Class B		0.18			0.24			22.46
Class C		0.18			0.24			22.37
Class I		0.16			0.22			23.81
Class R3		—			0.20			17.44
Class R4		—			0.20			17.80
Class R5		—			0.20			18.07
Class Y		0.16			0.20			23.99

6.	Investment Transactions:
	For the six-month period ended April 30, 2009, the Fund’s aggregate purchases and sales of investment securities (excluding short-term investments) were as follows:

	Amount
Cost of Purchases Excluding U.S. Government Obligations	$	522,579
Sales Proceeds Excluding U.S. Government Obligations		478,751

21

The Hartford Small Company Fund

Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

7.	Capital Share Transactions:
	The following information is for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	For the Six-Month Period Ended April 30, 2009													For the Year Ended October 31, 2008
			Shares						Shares							Shares						Shares
			Issued for						Issued		Net Increase					Issued for						Issued		Net Increase
	Shares		Reinvested			Shares			from		(Decrease) of			Shares		Reinvested			Shares			from		(Decrease) of
	Sold		Dividends			Redeemed			Merger		Shares			Sold		Dividends			Redeemed			Merger		Shares
Class A
Shares		4,513		—			(5,254	)		—		(741	)		11,324		1,490			(4,107	)		—		8,707
Amount	$	51,251	$	—		$	(58,558	)	$	—	$	(7,307	)	$	201,298	$	30,285		$	(72,540	)	$	—	$	159,043
Class B
Shares		82		—			(341	)		—		(259	)		203		317			(1,083	)		—		(563	)
Amount	$	831	$	—		$	(3,382	)	$	—	$	(2,551	)	$	3,295	$	5,795		$	(17,857	)	$	—	$	(8,767	)
Class C
Shares		434		—			(652	)		—		(218	)		1,097		366			(787	)		—		676
Amount	$	4,474	$	—		$	(6,414	)	$	—	$	(1,940	)	$	17,871	$	6,702		$	(12,454	)	$	—	$	12,119
Class I
Shares		329		—			(353	)		—		(24	)		1,008		20			(282	)		—		746
Amount	$	3,822	$	—		$	(3,833	)	$	—	$	(11	)	$	17,944	$	406		$	(4,659	)	$	—	$	13,691
Class R3
Shares		592		—			(152	)		—		440			273		1			(66	)		—		208
Amount	$	7,084	$	—		$	(1,815	)	$	—	$	5,269		$	5,284	$	20		$	(1,217	)	$	—	$	4,087
Class R4
Shares		910		—			(205	)		—		705			1,119		47			(234	)		—		932
Amount	$	11,003	$	—		$	(2,506	)	$	—	$	8,497		$	21,464	$	1,013		$	(4,412	)	$	—	$	18,065
Class R5																		��
Shares		216		—			(103	)		—		113			595		3			(87	)		—		511
Amount	$	2,617	$	—		$	(1,238	)	$	—	$	1,379		$	11,698	$	57		$	(1,624	)	$	—	$	10,131
Class Y
Shares		5,029		—			(1,729	)		—		3,300			4,810		901			(1,388	)		—		4,323
Amount	$	61,795	$	(19	)	$	(20,218	)	$	—	$	41,558		$	93,771	$	19,626		$	(23,657	)	$	—	$	89,740

The following reflects the conversion of Class B Shares into Class A Shares (reflected as Class A Shares issued and Class B shares redeemed) for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	Shares		Dollars
For the Six-Month Period Ended April 30, 2009		116	$	1,297
For the Year Ended October 31, 2008		456	$	8,432

8.	Line of Credit:
	The Fund is one of several Hartford Funds that participate in a $500 million committed revolving line of credit facility. The facility is to be used for temporary or emergency purposes. Under the arrangement, the Fund is required to own securities having a market value in excess of 300% of the total bank borrowings. The interest rate on borrowings varies depending on the nature of the loan. The facility also requires a fee to be paid based on the amount of the commitment. During the six-month period ended April 30, 2009, the Fund did not have any borrowings under this facility.
9.	Industry Classifications:
	Other than the industry classifications “Other Investment Pools and Funds” and “Exchange Traded Funds”, equity industry classifications used in this report are the Global Industry Classification Standard, which was developed by and is the exclusive property and service mark of MSCI, Inc. and Standard & Poor’s.

22

The Hartford Small Company Fund

Financial Highlights — (Unaudited)

- Selected Per-Share Data - (a)																											- Ratios and Supplemental Data -
																																		Ratio of			Ratio of			Ratio of
																																		Expenses			Expenses			Expenses
																																		to Average			to Average			to Average
																																		Net Assets			Net Assets			Net Assets
																																		Before			After			After
								Net																										Waivers			Waivers			Waivers
								Realized																										and			and			and
								and Un-								Distrib-								Net										Reimburse-			Reimburse-			Reimburse-
			Net			Pay-		realized						Dividends		utions								Increase			Net					Net		ments and			ments and			ments and			Ratio of Net			Port-
	Net Asset		Invest-			ments		Gain						from Net		from			Distri-					(Decrease)			Asset					Assets at		Including			Including			Excluding			Investment			folio
	Value at		ment			from		(Loss) on			Total from			Invest-		Realized			butions		Total			in Net			Value at					End of		Expenses			Expenses			Expenses			Income to			Turn-
	Beginning		Income			(to)		Invest-			Investment			ment		Capital			from		Distri-			Asset			End of		Total			Period		not Subject			not Subject			not Subject			Average			over
Class	of Period		(Loss)			Affiliate		ments			Operations			Income		Gains			Capital		butions			Value			Period		Return(b)			(000’s)		to Cap(c)			to Cap(c)			to Cap(c)			Net Assets			Rate(d)
For the Six-Month Period Ended April 30, 2009 (Unaudited)
A	$	13.09	$	(0.03	)	$	—	$	(0.91	)	$	(0.94	)	$	—	$	—		$	—	$	—		$	(0.94	)	$	12.15		(7.18	)%(e)	$	245,664		1.58	%(f)		1.29	%(f)		1.29	%(f)		(0.53	)%(f)		95	%
B		11.71		(0.05	)		—		(0.81	)		(0.86	)		—		—			—		—			(0.86	)		10.85		(7.34	) (e)		16,648		2.67	(f)		1.70	(f)		1.70	(f)		(0.94	) (f)		—
C		11.71		(0.07	)		—		(0.81	)		(0.88	)		—		—			—		—			(0.88	)		10.83		(7.51	) (e)		35,835		2.36	(f)		2.01	(f)		2.01	(f)		(1.25	) (f)		—
I		13.18		(0.02	)		—		(0.92	)		(0.94	)		—		—			—		—			(0.94	)		12.24		(7.13	) (e)		10,778		1.30	(f)		1.08	(f)		1.08	(f)		(0.32	) (f)		—
R3		13.89		(0.03	)		—		(1.00	)		(1.03	)		—		—			—		—			(1.03	)		12.86		(7.42	) (e)		8,421		1.71	(f)		1.66	(f)		1.66	(f)		(0.90	) (f)		—
R4		13.98		(0.03	)		—		(0.98	)		(1.01	)		—		—			—		—			(1.01	)		12.97		(7.22	) (e)		26,154		1.32	(f)		1.32	(f)		1.32	(f)		(0.56	) (f)		—
R5		14.06		(0.02	)		—		(0.98	)		(1.00	)		—		—			—		—			(1.00	)		13.06		(7.11	) (e)		8,449		1.09	(f)		1.06	(f)		1.06	(f)		(0.30	) (f)		—
Y		14.10		(0.01	)		—		(0.98	)		(0.99	)		—		—			—		—			(0.99	)		13.11		(6.96	) (e)		197,781		0.92	(f)		0.92	(f)		0.92	(f)		(0.17	) (f)		—
For the Year Ended October 31, 2008
A		24.46		(0.06	)		—		(8.68	)		(8.74	)		—		(2.63	)		—		(2.63	)		(11.37	)		13.09		(39.57	)		274,412		1.39			1.39			1.39			(0.39	)		183
B		22.30		(0.20	)		—		(7.76	)		(7.96	)		—		(2.63	)		—		(2.63	)		(10.59	)		11.71		(39.95	)		21,008		2.31			2.02			2.02			(1.01	)		—
C		22.32		(0.18	)		—		(7.80	)		(7.98	)		—		(2.63	)		—		(2.63	)		(10.61	)		11.71		(40.01	)		41,294		2.15			2.15			2.15			(1.14	)		—
I		24.55		(0.02	)		—		(8.72	)		(8.74	)		—		(2.63	)		—		(2.63	)		(11.37	)		13.18		(39.41	)		11,912		1.19			1.15			1.15			(0.15	)		—
R3		25.83		(0.07	)		—		(9.24	)		(9.31	)		—		(2.63	)		—		(2.63	)		(11.94	)		13.89		(39.69	)		2,990		1.66			1.65			1.65			(0.68	)		—
R4		25.91		(0.03	)		—		(9.27	)		(9.30	)		—		(2.63	)		—		(2.63	)		(11.93	)		13.98		(39.51	)		18,332		1.29			1.29			1.29			(0.29	)		—
R5		25.97		—			—		(9.28	)		(9.28	)		—		(2.63	)		—		(2.63	)		(11.91	)		14.06		(39.32	)		7,510		1.00			1.00			1.00			(0.01	)		—
Y		26.00		0.02			—		(9.29	)		(9.27	)		—		(2.63	)		—		(2.63	)		(11.90	)		14.10		(39.23	)		166,183		0.89			0.89			0.89			0.12			—
For the Year Ended October 31, 2007
A		21.58		(0.09	)		0.07		4.77			4.75			—		(1.87	)		—		(1.87	)		2.88			24.46		23.88	(g)		299,819		1.41			1.40			1.40			(0.44	)		186
B		19.97		(0.26	)		0.10		4.36			4.20			—		(1.87	)		—		(1.87	)		2.33			22.30		22.97	(g)		52,549		2.28			2.12			2.12			(1.16	)		—
C		20.00		(0.23	)		0.08		4.34			4.19			—		(1.87	)		—		(1.87	)		2.32			22.32		22.88	(g)		63,650		2.15			2.15			2.15			(1.19	)		—
I		21.59		(0.01	)		—		4.84			4.83			—		(1.87	)		—		(1.87	)		2.96			24.55		24.28	(g)		3,886		1.12			1.12			1.12			(0.16	)		—
R3(h)		21.95		(0.07	)		—		3.95			3.88			—		—			—		—			3.88			25.83		17.68	(e)		181		1.84	(f)		1.65	(f)		1.65	(f)		(0.69	) (f)		—
R4(i)		21.95		(0.03	)		—		3.99			3.96			—		—			—		—			3.96			25.91		18.04	(e)		9,809		1.34	(f)		1.34	(f)		1.34	(f)		(0.54	) (f)		—
R5(j)		21.95		(0.01	)		—		4.03			4.02			—		—			—		—			4.02			25.97		18.31	(e)		588		1.07	(f)		1.05	(f)		1.05	(f)		(0.38	) (f)		—
Y		22.73		0.02			0.06		5.06			5.14			—		(1.87	)		—		(1.87	)		3.27			26.00		24.44	(g)		194,096		0.91			0.91			0.91			0.09			—
For the Year Ended October 31, 2006
A		18.45		(0.18	)		—		3.31			3.13			—		—			—		—			3.13			21.58		16.96			194,656		1.48			1.40			1.40			(0.87	)		170
B		17.20		(0.36	)		—		3.13			2.77			—		—			—		—			2.77			19.97		16.10			52,036		2.32			2.15			2.15			(1.62	)		—
C		17.22		(0.32	)		—		3.10			2.78			—		—			—		—			2.78			20.00		16.14			47,744		2.23			2.15			2.15			(1.62	)		—
I(k)		20.70		(0.01	)		—		0.90			0.89			—		—			—		—			0.89			21.59		4.30	(e)		69		1.38	(f)		1.15	(f)		1.15	(f)		(0.58	) (f)		—
Y		19.33		(0.06	)		—		3.46			3.40			—		—			—		—			3.40			22.73		17.59			108,770		0.95			0.95			0.95			(0.39	)		—
For the Year Ended October 31, 2005
A		15.09		(0.16	)		—		3.52			3.36			—		—			—		—			3.36			18.45		22.27			159,577		1.57			1.40			1.40			(0.88	)		104
B		14.17		(0.29	)		—		3.32			3.03			—		—			—		—			3.03			17.20		21.38			56,664		2.39			2.15			2.15			(1.63	)		—
C		14.19		(0.29	)		—		3.32			3.03			—		—			—		—			3.03			17.22		21.35			44,564		2.30			2.15			2.15			(1.63	)		—
Y		15.74		(0.07	)		—		3.66			3.59			—		—			—		—			3.59			19.33		22.81			43,274		0.97			0.97			0.97			(0.43	)		—
For the Year Ended October 31, 2004
A		14.28		(0.18	)		—		0.99			0.81			—		—			—		—			0.81			15.09		5.67			156,278		1.62			1.45			1.45			(1.15	)		142
B		13.51		(0.27	)		—		0.93			0.66			—		—			—		—			0.66			14.17		4.88			58,438		2.40			2.15			2.15			(1.85	)		—
C		13.52		(0.28	)		—		0.95			0.67			—		—			—		—			0.67			14.19		4.96			49,327		2.30			2.15			2.15			(1.85	)		—
Y		14.83		(0.06	)		—		0.97			0.91			—		—			—		—			0.91			15.74		6.14			15,731		0.99			0.99			0.99			(0.71	)		—

Footnotes to Financial Highlight are on the next page.

23

The Hartford Small Company Fund

Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

(a)	Information presented relates to a share outstanding throughout the indicated period.
(b)	Assumes initial investment at net asset value at the beginning of each period, reinvestment of all distributions, the complete redemption of the investment at net asset value at the end of each period and no sales charge. Total return would be reduced if sales charges were taken into account.
(c)	Ratios do not include fees paid indirectly (See Expenses in the accompanying Notes to Financial Statements).
(d)	Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between the classes of shares issued.
(e)	Not annualized.
(f)	Annualized.
(g)	Total return without the inclusion of the Payments from (to) Affiliate, as noted on the Statement of Operations, can be found in Expenses in the accompanying Notes to Financial Statements.
(h)	Commenced operations on December 22, 2006.
(i)	Commenced operations on December 22, 2006.
(j)	Commenced operations on December 22, 2006.
(k)	Commenced operations on August 31, 2006.

24

The Hartford Small Company Fund

Directors and Officers (Unaudited)

The Board of Directors appoints officers who are responsible for the day-to-day operations of the Fund and who execute policies formulated by the Directors. Each director serves until his or her death, resignation, or retirement or until the next annual meeting of shareholders is held or until his or her successor is elected and qualifies.

Directors and officers who are employed by or who have a financial interest in The Hartford are considered “interested” persons of the Fund pursuant to the Investment Company Act of 1940, as amended. Each officer and three of the Fund’s directors, as noted in the chart below, are “interested” persons of the Fund. Each director serves as a director for The Hartford Mutual Funds, Inc., The Hartford Mutual Funds II, Inc., The Hartford Income Shares Fund, Inc., Hartford Series Fund, Inc., and Hartford HLS Series Fund II, Inc., which collectively consist of 100 funds. Correspondence may be sent to directors and officers c/o Hartford Mutual Funds, P.O. Box 2999, Hartford, Connecticut 06104-2999, except that correspondence to Ms. Fagely may be sent to 500 Bielenberg Drive, Woodbury, Minnesota 55125.

The table below sets forth, for each director and officer, his or her name, year of birth, current position with the Fund and date first elected or appointed to The Hartford Mutual Funds, Inc. (“MF”) and The Hartford Mutual Funds II, Inc. (“MF2”), principal occupation, and, for directors, other directorships held. The Fund’s statement of additional information contains further information on the directors and is available free of charge by calling 1-888-843-7824 or writing to Hartford Mutual Funds, P.O. Box 64387, St. Paul, MN 55164-0387.

Information on the aggregate remuneration paid to the directors of the Fund can be found in the Statement of Operations herein. The Fund pays a portion of the Chief Compliance Officer’s compensation, but does not pay salaries or compensation to any of its officers or directors who are employed by The Hartford.

Non-Interested Directors

Lynn S. Birdsong (1946) Director since 2003, Co-Chairman of the Investment Committee

Mr. Birdsong is a private investor. Since 1981, Mr. Birdsong has been a partner in Birdsong Company, an advertising specialty firm. Since 2003, Mr. Birdsong has been an independent director of The Japan Fund. From 2003 to March 2005, Mr. Birdsong was an independent director of the Atlantic Whitehall Funds. From 1979 to 2002, Mr. Birdsong was a managing director of Zurich Scudder Investments, an investment management firm. During his employment with Scudder, Mr. Birdsong was an interested director of The Japan Fund.

Robert M. Gavin, Jr. (1940) Director since 2002 (MF) and 1986 (MF2), Chairman of the Board since 2004

Dr. Gavin is an educational consultant. Prior to September 1, 2001, he was President of Cranbrook Education Community and prior to July 1996, he was President of Macalester College, St. Paul, Minnesota.

Duane E. Hill (1945) Director since 2001 (MF) and 2002 (MF2), Chairman of the Nominating Committee

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

Sandra S. Jaffee (1941) Director since 2005

Ms. Jaffee is Chairman and Chief Executive Officer of Fortent (formerly Searchspace Group), a leading provider of compliance/regulatory technology to financial institutions. Ms. Jaffee served as an Entrepreneur in Residence with Warburg Pincus, a private equity firm, from August 2004 to August 2005. From September 1995 to July 2004, Ms. Jaffee served as Executive Vice President at Citigroup, where she was President and Chief Executive Officer of Citibank’s Global Securities Services (1995-2003).

William P. Johnston (1944) Director since 2005, Chairman of the Compliance Committee

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

25

The Hartford Small Company Fund

Directors and Officers (Unaudited) — (continued)

Phillip O. Peterson (1944) Director since 2002 (MF) and 2000 (MF2), Chairman of the Audit Committee

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

Lemma W. Senbet (1946) Director since 2005

Dr. Senbet is the William E. Mayer Chair Professor of Finance at the University of Maryland, Robert H. Smith School of Business. He was chair of the Finance Department during 1998-2006. Previously he was an endowed professor of finance at the University of Wisconsin-Madison. Also, he was director of the Fortis Funds from March 2000-July 2002. Dr. Senbet served the finance profession in various capacities, including as director of the American Finance Association and President of the Western Finance Association. In 2006, Dr. Senbet was inducted Fellow of Financial Management Association International for his career-long distinguished scholarship and professional service.

Interested Directors and Officers

Thomas M. Marra* (1958) Director since 2002

Mr. Marra has served as President and Chief Operating Officer of The Hartford Financial Services Group, Inc. (“The Hartford”) since 2007. Mr. Marra currently serves as Director of Hartford Life, Inc. (“HL, Inc.”). Mr. Marra served as Chief Operating Officer of Hartford Life Insurance Company, Inc. (“Hartford Life”) (2000-2008), as President of Hartford Life (2002-2008) and as Director of Hartford Life’s Investment Products Division from 1998 to 2000.

* On February 24, 2009, The Hartford and Mr. Marra determined to enter into a mutually agreed separation whereby Mr. Marra will retire, and his role as an executive officer and employee of The Hartford will terminate, effective July 3, 2009. Mr. Marra will resign his position as a Director of the Fund effective June 25, 2009.

Lowndes A. Smith (1939) Director since 2002, Co-Chairman of the Investment Committee

Mr. Smith served as Vice Chairman of The Hartford from February 1997 to January 2002, as President and Chief Executive Officer of Hartford Life, Inc. from February 1997 to January 2002, and as President and Chief Operating Officer of The Hartford Life Insurance Companies from January 1989 to January 2002. Mr. Smith serves as a Director of White Mountains Insurance Group, Ltd., One Beacon Insurance, Symetra Financial and as a Managing Director of Whittington Gray Associates.

John C. Walters* (1962) Director since 2008

Mr. Walters currently serves as Chief Executive Officer, President and Director of HL, Inc. Mr. Walters previously served as President of the U.S. Wealth Management Division of Hartford Life, Inc., as Co-Chief Operating Officer of Hartford Life Insurance Company (2007-2008) and as Executive Vice President and Director of its Investment Products Division (2000-2008). Mr. Walters also serves as Chairman of the Board, Chief Executive Officer, President and Director of Hartford Life Insurance Company and as Executive Vice President of The Hartford. In addition, Mr. Walters is Manager of HL Investment Advisors, LLC (“HL Advisors”).

* Mr. Walters previously served as President and Chief Executive Officer of the Fund (2007 — 2009).

Other Officers

Robert M. Arena, Jr. (1968) President and Chief Executive Officer since 2009 (served as Vice President of the Fund (2006 — 2009))

Mr. Arena serves as Executive Vice President of Hartford Life Insurance Company, (“Hartford Life”). Additionally, Mr. Arena is Director and Senior Vice President of Hartford Administrative Services Company, (“HASCO”), Manager, Chief Executive Officer and President of Hartford Investment Financial Services, LLC (“HIFSCO”) and HL Advisors. Prior to joining The Hartford in 2004, he was Senior Vice President in charge of Product Management for American Skandia/Prudential in the individual annuities division. Mr. Arena joined American Skandia in 1996.

Tamara L. Fagely (1958) Vice President, Treasurer and Controller since 2002 (MF) 1993 (MF2)

Ms. Fagely has been a Vice President of HASCO since 1998 and Chief Financial Officer since 2006. Currently Ms. Fagely is a Vice President of Hartford Life. She served as Assistant Vice President of Hartford Life from December 2001 through March 2005. In addition, Ms. Fagely is Controller and Chief Financial Officer of HIFSCO.

Brian Ferrell (1962) AML Compliance Officer since 2008

Mr. Ferrell has served as Assistant Vice President and AML Compliance Officer for The Hartford since 2006 and as AML Compliance Officer for HASCO and Hartford Investor Services Company, LLC (“HISC”) since 2008. Prior to joining The Hartford in 2006, Mr. Ferrell held various positions at the U.S. Department of the Treasury, (the “Treasury”), from 2001 to 2006 where he served as Chief Counsel for the Treasury’s Financial Crimes Enforcement Network, (“FinCEN”) from 2005 — 2006.

26

Thomas D. Jones, III (1965) Vice President and Chief Compliance Officer since 2006

Mr. Jones serves as Chief Compliance Officer for the Hartford Mutual Funds and Vice President and Director of Securities Compliance for The Hartford. He is also Vice President of HIFSCO, HL Advisors, and Hartford Life Insurance Company. Mr. Jones joined The Hartford in 2006 from SEI Investments, where he served as Chief Compliance Officer for its mutual funds and investment advisers. Prior to joining SEI, Mr. Jones was First Vice President and Compliance Director for Merrill Lynch Investment Managers (Americas) (“MLIM”), where he worked from 1992-2004. At MLIM, Mr. Jones was responsible for the compliance oversight of various investment products, including mutual funds, wrap accounts, institutional accounts and alternative investments.

Edward P. Macdonald (1967) Vice President, Secretary and Chief Legal Officer since 2005

Mr. Macdonald serves as Assistant General Counsel and Assistant Vice President of The Hartford and Chief Legal Officer and Vice President of HIFSCO. He also serves as Vice President and Secretary of HASCO, Assistant Vice President of Hartford Life, and Chief Legal Officer, Secretary and Vice President of HL Advisors. Prior to joining The Hartford in 2005, Mr. Macdonald was Chief Counsel, Investment Management for Prudential Financial (formerly American Skandia Investment Services, Inc.). He joined Prudential in April 1999.

Vernon J. Meyer (1964) Vice President since 2006

Mr. Meyer serves as Senior Vice President of Hartford Life and as Director of its Investment Advisory Group in the Individual Markets Group segment. He also serves as Senior Vice President of HIFSCO and HL Advisors. Prior to joining The Hartford in 2004, Mr. Meyer was with MassMutual which he joined in 1987.

D. Keith Sloane (1960) Vice President since 2009

Mr. Sloane is a Senior Vice President of Hartford Life where he serves as Director of mutual fund product management for The Hartford’s mutual funds and 529 college savings businesses. Additionally, Mr. Sloane currently serves as Senior Vice President of HIFSCO, HL Advisors, and HASCO. Prior to joining The Hartford in 2007, Mr. Sloane was Director of product marketing and led the mutual fund business for Wachovia Securities (“Wachovia”) in their investment products group. Mr. Sloane joined Wachovia in 1995.

Jane Wolak (1961) Vice President since 2009

Ms. Wolak currently serves as Vice President of Hartford Life. Ms. Wolak joined Hartford Life as Vice President, Retail Product Services in May 2007. She is also Vice President of HASCO. Previously, Ms. Wolak was with Sun Life Financial where she held the position of Vice President, Service Center Operations from 2001 — 2007.

HOW TO OBTAIN A COPY OF THE FUND’S PROXY VOTING POLICIES AND VOTING RECORDS

A description of the policies and procedures that the Fund uses to determine how to vote proxies relating to portfolio securities and a record of how the Fund voted any proxies for the twelve-month period ended June 30, 2008 is available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov.

QUARTERLY PORTFOLIO HOLDINGS INFORMATION

The Fund files a complete schedule of portfolio holdings with the Commission for the first and third quarters of each fiscal year on Form N-Q. The Fund’s Forms are available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov. The Form N-Q may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330.

27

The Hartford Small Company Fund

Expense Example (Unaudited)

Your Fund’s Expenses

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments and contingent deferred sales charges (CDSC) (2) ongoing costs including management fees; distribution fees; and other fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the period of October 31, 2008 through April 30, 2009.

Actual Expenses

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

Hypothetical Example for Comparison Purposes

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

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads) and CDSC. Therefore, the second line 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 are equal to the Fund’s annualized expense ratios multiplied by average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

	Actual return						Hypothetical (5% return before expenses)
					Expenses paid						Expenses paid					Days in
					during the period						during the period					the		Days
	Beginning		Ending Account		October 31, 2008		Beginning		Ending Account		October 31,		Annualized			current		in the
	Account Value		Value		through		Account Value		Value		2008 through		expense			1/2		full
	October 31, 2008		April 30, 2009		April 30, 2009		October 31, 2008		April 30, 2009		April 30, 2009		ratio			year		year
Class A	$	1,000.00	$	928.18	$	6.16	$	1,000.00	$	1,018.39	$	6.45		1.29	%		181		365
Class B	$	1,000.00	$	926.55	$	8.12	$	1,000.00	$	1,016.36	$	8.49		1.70			181		365
Class C	$	1,000.00	$	924.85	$	9.59	$	1,000.00	$	1,014.82	$	10.04		2.01			181		365
Class I	$	1,000.00	$	928.67	$	5.16	$	1,000.00	$	1,019.43	$	5.40		1.08			181		365
Class R3	$	1,000.00	$	925.84	$	7.92	$	1,000.00	$	1,016.56	$	8.30		1.66			181		365
Class R4	$	1,000.00	$	927.75	$	6.30	$	1,000.00	$	1,018.24	$	6.60		1.32			181		365
Class R5	$	1,000.00	$	928.87	$	5.06	$	1,000.00	$	1,019.53	$	5.30		1.06			181		365
Class Y	$	1,000.00	$	930.44	$	4.40	$	1,000.00	$	1,020.23	$	4.60		0.92			181		365

28

The Hartford Stock Fund

Table of Contents

Manager Discussions (Unaudited)	2
Financial Statements
Schedule of Investments at April 30, 2009 (Unaudited)	4
Statement of Assets and Liabilities at April 30, 2009 (Unaudited)	7
Statement of Operations for the Six Month Period Ended April 30, 2009 (Unaudited)	8
Statement of Changes in Net Assets for the Six Month Period Ended April 30, 2009 (Unaudited) and the Year Ended October 31, 2008	9
Notes to Financial Statements (Unaudited)	10
Financial Highlights (Unaudited)	21
Directors and Officers (Unaudited)	22
How to Obtain a Copy of the Fund’s Proxy Voting Policies and Proxy Voting Records (Unaudited)	24
Quarterly Portfolio Holdings Information (Unaudited)	24
Expense Example (Unaudited)	25

The Hartford Stock Fund
(subadvised by Wellington Management Company, LLP)

Performance Overview(1) 4/30/99 — 4/30/09
Growth of a $10,000 investment in Class A which includes Sales Charge

S&P 500 Index is a market capitalization weighted price index composed of 500 widely held common stocks.

You cannot invest directly in an index.

The value of shares will fluctuate so that, when redeemed, shares may be worth more or less than their original cost. The chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.

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

Investment objective — Seeks long-term growth of capital.

Average Annual Total Returns(2,3,4) (as of 4/30/09)

	Inception		1			5			10			Since
	Date		Year			Year			Year			Inception
Stock A#		7/22/96		-36.65	%		-4.03	%		-3.78	%		3.27	%
Stock A##		7/22/96		-40.13	%		-5.11	%		-4.32	%		2.82	%
Stock B#		7/22/96		-37.31	%		-4.90	%	NA*			NA*
Stock B##		7/22/96		-40.44	%		-5.28	%	NA*			NA*
Stock C#		7/22/96		-37.34	%		-4.82	%		-4.48	%		2.53	%
Stock C##		7/22/96		-37.96	%		-4.82	%		-4.48	%		2.53	%
Stock I#		7/22/96		-36.58	%		-4.01	%		-3.77	%		3.28	%
Stock R3#		7/22/96		-36.99	%		-3.94	%		-3.48	%		3.63	%
Stock R4#		7/22/96		-36.79	%		-3.80	%		-3.41	%		3.69	%
Stock R5#		7/22/96		-36.59	%		-3.66	%		-3.34	%		3.74	%
Stock Y#		7/22/96		-36.57	%		-3.62	%		-3.32	%		3.76	%

#	Without sales charge
##	With sales charge
NA	Not Applicable
*	10 year and inception returns are not applicable for Class B because after 8 years Class B converts to Class A.

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)	Growth of a $10,000 investment in Classes B, C, I, R3, R4, R5 and Y shares will vary from results seen above due to differences in the expenses charged to these share classes.
(2)	The initial investment in Class A shares reflects the maximum sales charge and Classes B and C reflect CDSC.
(3)	Total returns presented above were calculated using the Fund’s net asset value available to shareholders for sale or redemption of Fund shares on April 30, 2009, which excludes investment transactions as of this date.
(4)	Class C shares commenced operations on 7/31/98. Performance prior to 7/31/98 reflects Class B performance less Class C sales charges where applicable. Class I shares commenced operations on 5/30/08. Performance prior to 5/30/08 reflects Class A performance. Class R3, R4 and R5 shares commenced operations on 12/22/06. Performance prior to 12/22/06 reflects Class Y performance.

Portfolio Managers
Steven T. Irons, CFA	Peter I. Higgins, CFA
Senior Vice President, Partner	Senior Vice President, Partner

How did the Fund perform?

The Class A shares of The Hartford Stock Fund returned - -1.15%, before sales charge, for the six-month period ended April 30, 2009, outperforming its benchmark, the S&P 500 Index which returned -8.53% for the same period. The Fund also outperformed the -7.12% return of the average fund in the Lipper Large Cap Core Funds peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

The six-month period ended April 30, 2009 was one of the most volatile in history, reflecting investors’ fluctuating reactions to economic data releases and the U.S. government’s involvement to help mitigate the financial crisis. The broad U.S. equity market registered its sixth straight quarterly decline in the first quarter of 2009, but ended the period with a sharp rebound from mid-March lows.

Large cap stocks (-8.5%) trailed mid (-0.2%) and small (-8.4%) cap stocks during the period, as measured by the S&P 500 , S&P MidCap 400, and Russell 2000 indices, respectively. Growth stocks (-2%) significantly outperformed Value stocks (-13%), as measured by the Russell 1000 Growth and Russell 1000 Value indices, respectively. Seven of ten sectors within the S&P 500 Index posted negative returns. Financials (-29%), Industrials (-13%), and Energy (-10%) were the biggest laggards, while Information Technology (6%), Consumer Discretionary (4%), and

2

Telecommunication Services (3%) were the only sectors to post positive returns.

The Fund’s outperformance versus the benchmark was driven by security selection, which was strongest in Health Care, Financials, and Consumer Discretionary. Sector positioning, which is a result of bottom-up (i.e. stock by stock fundamental research) security selection, contributed modestly to performance as overweight (i.e. the Fund’s sector position was greater than the benchmark position) allocations to the Information Technology, Health Care, and Consumer Discretionary sectors benefited relative results.

Top contributors to relative (i.e. performance of the Fund as measured against the benchmark) and absolute (i.e. total return) performance during the period included Schering-Plough (Health Care), Goldman Sachs (Financials), and Wyeth (Health Care). Schering-Plough’s share price jumped after receiving a takeover offer by Merck. Shares of Goldman Sachs, a leading investment bank, benefited from the firm’s relatively healthy balance sheet and news that the company was exploring ways to pay back its government TARP loans sooner than had been expected. Shares of U.S.-based pharmaceutical company Wyeth moved sharply higher after Pfizer agreed to purchase the company at a significant premium.

Stocks that detracted the most from relative returns during the period were Bank of America (Financials), Delta Air Lines (Industrials), and General Electric (Industrials). Shares of diversified banking company Bank of America fell sharply on weakness in their consumer-oriented loan portfolio and concerns surrounding their acquisition of Merrill Lynch. Delta Airlines’ shares fell during the period on news of soft revenue metrics and a general contraction in demand across the travel industry, which investors feared would overshadow the benefits of industry-wide capacity reductions. General Electric, a U.S. conglomerate, saw its shares fall after the company cut its dividend and investors grew increasingly concerned about its finance unit. Significant detractors from absolute returns also included Wells Fargo (Financials) and JP Morgan Chase (Financials).

What is the outlook?

While investors have stopped worrying—for the moment—about the solvency of the banking system and the freezing of global credit, that concern has shifted to implications of government involvement in private enterprise and the troubling trends in unemployment and corporate profits. In the midst of this uncertainty we continue to focus our efforts on stock-by-stock fundamental research to construct a diversified large-cap core portfolio. We look for companies that exhibit the following qualities: industry leadership, strong balance sheets, solid management, high return on equity, accelerating earnings, and/or attractive valuation with a catalyst. At the end of the period, our bottom-up investment approach resulted in overweight exposures in Financials, Information Technology, and Industrials, as we found a number of attractive investment opportunities in these sectors. The Fund’s largest underweights (i.e. the Fund’s sector position was less than the benchmark position) relative to the S&P 500 were in Utilities, Telecommunication Services, and Consumer Staples.

Diversification by Industry
as of April 30, 2009

	Percentage of
Industry	Net Assets
Banks		3.6	%
Capital Goods		7.9
Commercial & Professional Services		0.5
Diversified Financials		10.5
Energy		13.9
Food & Staples Retailing		5.2
Food, Beverage & Tobacco		3.6
Health Care Equipment & Services		3.4
Household & Personal Products		1.0
Insurance		0.6
Materials		1.8
Media		4.6
Pharmaceuticals, Biotechnology & Life Sciences		8.4
Real Estate		0.7
Retailing		5.7
Semiconductors & Semiconductor Equipment		4.3
Software & Services		6.4
Technology Hardware & Equipment		9.9
Telecommunication Services		1.5
Transportation		3.5
Utilities		1.3
Short-Term Investments		0.2
Other Assets and Liabilities		1.5
Total		100.0	%

3

The Hartford Stock Fund

Schedule of Investments
April 30, 2009 (Unaudited)

(000’s Omitted)

Shares or Principal Amount			Market Value ╪
COMMON STOCKS — 98.3%
		Banks — 3.6%
	49	PNC Financial Services Group, Inc.	$	1,961
	100	Standard Chartered plc		1,543
	766	Washington Mutual, Inc. private placement ⌂ †		76
	525	Wells Fargo & Co.		10,505
				14,085
		Capital Goods — 7.9%
	83	Cummins, Inc.		2,815
	32	Danaher Corp.		1,870
	92	Deere & Co.		3,812
	15	First Solar, Inc.Ÿ		2,809
	513	General Electric Co.		6,487
	96	Honeywell International, Inc.		2,984
	113	Illinois Tool Works, Inc.		3,697
	40	Lockheed Martin Corp.		3,149
	49	Siemens AG ADR		3,286
				30,909
		Commercial & Professional Services — 0.5%
	139	Monster Worldwide, Inc.Ÿ		1,913
		Diversified Financials — 10.5%
	110	Ameriprise Financial, Inc.		2,893
	543	Bank of America Corp.		4,852
	412	Discover Financial Services, Inc.		3,353
	71	Goldman Sachs Group, Inc.		9,098
	185	Invesco Ltd.		2,730
	363	JP Morgan Chase & Co.		11,989
	428	UBS AG ADR Ÿ		5,832
				40,747
		Energy — 13.9%
	94	Cameco Corp.		2,142
	25	Canadian Natural Resources Ltd. ADR		1,130
	20	Chevron Corp.		1,348
	81	EOG Resources, Inc.		5,135
	197	Exxon Mobil Corp.		13,114
	109	Hess Corp.		5,950
	73	Marathon Oil Corp.		2,171
	242	OAO Gazprom Class S ADR		4,326
	58	Occidental Petroleum Corp.		3,242
	49	Petro-Canada		1,536
	111	Petroleo Brasileiro S.A. ADR		3,709
	110	Schlumberger Ltd.		5,399
	96	Suncor Energy, Inc. ADR		2,435
	63	XTO Energy, Inc.		2,184
				53,821
		Food & Staples Retailing — 5.2%
	61	Costco Wholesale Corp.		2,940
	81	Kroger Co.		1,743
	147	Safeway, Inc.		2,897
	184	Supervalu, Inc.		3,015
	141	Walgreen Co.		4,425
	102	Wal-Mart Stores, Inc.		5,141
				20,161
		Food, Beverage & Tobacco — 3.6%
	58	General Mills, Inc.		2,950
	191	PepsiCo, Inc.		9,499
	92	Unilever N.V. NY Shares ADR		1,815
				14,264
		Health Care Equipment & Services — 3.4%
	18	Intuitive Surgical, Inc.Ÿ		2,558
	121	Medtronic, Inc.		3,878
	108	UnitedHealth Group, Inc.		2,535
	61	Varian Medical Systems, Inc.Ÿ		2,019
	44	Zimmer Holdings, Inc.Ÿ		1,936
				12,926
		Household & Personal Products — 1.0%
	76	Procter & Gamble Co.		3,738
		Insurance — 0.6%
	55	ACE Ltd.		2,531
		Materials — 1.8%
	138	Cliff’s Natural Resources, Inc.		3,171
	47	Potash Corp. of Saskatchewan, Inc.		4,039
				7,210
		Media — 4.6%
	633	Comcast Corp. Class A		9,783
	175	Time Warner, Inc.		3,814
	222	Viacom, Inc. Class BŸ		4,278
				17,875
		Pharmaceuticals, Biotechnology & Life Sciences — 8.4%
	181	Daiichi Sankyo Co., Ltd.		3,023
	465	Elan Corp. plc ADR Ÿ		2,746
	84	Eli Lilly & Co.		2,765
	108	Merck & Co., Inc.		2,613
	436	Pfizer, Inc.		5,820
	179	Schering-Plough Corp.		4,128
	239	Shionogi & Co., Ltd.		4,114
	66	UCB S.A.		1,802
	107	Vertex Pharmaceuticals, Inc.Ÿ		3,310
	58	Wyeth		2,459
				32,780
		Real Estate — 0.7%
	49	Kimco Realty Corp.		584
	40	Simon Property Group, Inc.		2,085
				2,669
		Retailing — 5.7%
	64	Best Buy Co., Inc.		2,472
	2,495	Buck Holdings L.P.⌂Ÿ†		4,439
	55	Kohl’s Corp.Ÿ		2,490
	241	Lowe’s Co., Inc.		5,171
	107	Nordstrom, Inc.		2,430
	256	Staples, Inc.		5,274
				22,276
		Semiconductors & Semiconductor Equipment — 4.3%
	216	Applied Materials, Inc.		2,636
	84	Intel Corp.		1,331
	89	Lam Research Corp.Ÿ		2,473
	396	Maxim Integrated Products, Inc.		5,367
	271	Texas Instruments, Inc.		4,896
				16,703
		Software & Services — 6.4%
	101	Accenture Ltd. Class A		2,972
	12	Google, Inc.Ÿ		4,791
	544	Microsoft Corp.		11,029
	90	Oracle Corp.Ÿ		1,735

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

4

Shares or Principal Amount					Market Value ╪
COMMON STOCKS - 98.3% — (continued)
		Software & Services - 6.4% — (continued)
	253	Western Union Co.				$	4,238
							24,765
		Technology Hardware & Equipment — 9.9%
	57	Apple, Inc.Ÿ					7,109
	651	Cisco Systems, Inc.Ÿ					12,570
	130	Corning, Inc.					1,899
	464	Flextronics International Ltd.Ÿ					1,800
	104	Hewlett-Packard Co.					3,749
	145	NetApp, Inc.Ÿ					2,650
	196	Qualcomm, Inc.					8,303
							38,080
		Telecommunication Services — 1.5%
	69	AT&T, Inc.					1,755
	245	MetroPCS Communications, Inc.Ÿ					4,192
							5,947
		Transportation — 3.5%
	652	Delta Air Lines, Inc.Ÿ					4,023
	76	FedEx Corp.					4,253
	104	United Parcel Service, Inc. Class B					5,438
							13,714
		Utilities — 1.3%
	106	Exelon Corp.					4,881
		Total common stocks (cost $484,210)				$	381,995
WARRANTS - 0.0%
		Banks 0.0%
	96	Washington Mutual, Inc. Private Placement ⌂Ÿ †				$	—
		Total warrants (cost $—)				$	—
		Total long-term investments (cost $484,210)				$	381,995
SHORT-TERM INVESTMENTS — 0.2%
		Repurchase Agreements — 0.2%
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $158, collateralized by GNMA 4.50% - 6.50%, 2038 - 2039, value of $161)
$	157	0.18%, 04/30/2009				$	157
		BNP Paribas Securities Corp. TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $189, collateralized by FHLMC 4.50% - 6.50%, 2035 - 2039, FNMA 4.50% - 6.50%, 2034 - 2047, value of $193)
	189	0.17%, 04/30/2009					189
		Deutsche Bank Securities TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $264, collateralized by FHLMC 4.00% - 7.00%, 2021 - 2039, FNMA 6.00% - 7.00%, 2034 - 2038, GNMA 4.50% - 7.00%, 2024 - 2039, value of $269)
	264	0.17%, 04/30/2009					264
		UBS Securities, Inc. Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $1, collateralized by U.S. Treasury Bond 7.50%, 2024, value of $1)
	1	0.14%, 04/30/2009					1
		UBS Securities, Inc. TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $57, collateralized by FHLMC 8.00% - 15.00%, 2009 - 2021, FNMA 3.50% - 15.50%, 2012 - 2039, value of $58)
	57	0.16%, 04/30/2009					57
							668
		Total short-term investments (cost $668)				$	668
		Total investments (cost $484,878) ▲	98 .5	%		$	382,663
		Other assets and liabilities	1.5	%			5,958
		Total net assets	100.0	%		$	388,621

Note:	Percentage of investments as shown is the ratio of the total market value to total net assets. Market value of investments in foreign securities represents 11.19% of total net assets at April 30, 2009.
	Foreign securities that are principally traded on certain foreign markets are adjusted daily pursuant to a third party pricing service methodology approved by the Board of Directors in order to reflect an adjustment for factors occurring after the close of the foreign market but before the close of the New York Stock Exchange.
▲	At April 30, 2009, the cost of securities for federal income tax purposes was $505,728 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	17,288
Unrealized Depreciation		(140,353	)
Net Unrealized Depreciation	$	(123,065	)

† The aggregate value of securities valued in good faith at fair value as determined under policies and procedures established by and under the supervision of the Fund’s Board of Directors at April 30, 2009, was $4,515, which represents 1.16% of total net assets. This calculation excludes securities that are principally traded in certain foreign markets and whose prices were adjusted pursuant to a third party pricing service methodology approved by the Board of Directors.

• Currently non-income producing.

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

5

The Hartford Stock Fund
Schedule of Investments — (continued)
April 30, 2009 (Unaudited)

(000’s Omitted)

⌂ The following securities are considered illiquid. Illiquid securities are often purchased in private placement transactions, are often not registered under the Securities Act of 1933 and may have contractual restrictions on resale. A security may also be considered illiquid if the security lacks a readily available market or if its valuation has not changed for a certain period of time.

Period		Shares/
Acquired		Par		Security	Cost Basis
	06/2007		2,495	Buck Holdings L.P.	$	2,497
	04/2008		766	Washington Mutual, Inc. Private Placement		6,700
	04/2008		96	Washington Mutual, Inc. Private Placement Warrants		—

The aggregate value of these securities at April 30, 2009 was $4,515 which represents 1.16% of total net assets.

Forward Foreign Currency Contracts Outstanding at April 30, 2009

						Unrealized
	Market		Contract		Delivery	Appreciation/
Description	Value ╪		Amount		Date	(Depreciation)
British Pound (Sell)	$	44	$	44	05/06/09	$	—
Euro (Sell)		51		51	05/06/09		—
						$	—

╪ See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of securities.

FAS 157 Disclosure of Investment Valuation Hierarchy Levels

Assets:
Investment in securities — Level 1	$	366,998
Investment in securities — Level 2		11,150
Investment in securities — Level 3		4,515
Total	$	382,663

Following is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value:

Assets:
Securities:
Balance as of October 31, 2008	$	2,423
Change in unrealized appreciation w		2,092
Balance as of April 30, 2009	$	4,515
w Change in unrealized gains or losses relating to assets still held at April 30, 2009	$	2,092

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

6

The Hartford Stock Fund

Statement of Assets and Liabilities
April 30, 2009
(Unaudited)
(000’s Omitted)

Assets:
Investments in securities, at fair value (cost $484,878)	$	382,663
Cash		1
Unrealized appreciation on forward foreign currency contracts		—
Receivables:
Investment securities sold		12,949
Dividends and interest		504
Other assets		223
Total assets		396,340
Liabilities:
Unrealized depreciation on forward foreign currency contracts		—
Bank overdraft — foreign cash		—
Payables:
Investment securities purchased		6,643
Fund shares redeemed		648
Investment management fees		47
Distribution fees		27
Accrued expenses		354
Total liabilities		7,719
Net assets	$	388,621
Summary of Net Assets:
Capital stock and paid-in-capital		896,854
Accumulated distribution in excess of net investment income		(1,293	)
Accumulated net realized loss on investments and foreign currency transactions		(404,725	)
Unrealized depreciation of investments		(102,215	)
Net assets	$	388,621
Shares authorized		500,000
Par value	$	0.001
Class A: Net asset value per share/Maximum offering price per share	$	13.32/$14.09
Shares outstanding		20,371
Net assets	$	271,325
Class B: Net asset value per share	$	12.40
Shares outstanding		3,455
Net assets	$	42,831
Class C: Net asset value per share	$	12.46
Shares outstanding		4,544
Net assets	$	56,615
Class I: Net asset value per share	$	13.25
Shares outstanding		10
Net assets	$	131
Class R3: Net asset value per share	$	13.77
Shares outstanding		2
Net assets	$	27
Class R4: Net asset value per share	$	13.81
Shares outstanding		1
Net assets	$	15
Class R5: Net asset value per share	$	13.82
Shares outstanding		—
Net assets	$	6
Class Y: Net asset value per share	$	13.82
Shares outstanding		1,279
Net assets	$	17,671

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

7

The Hartford Stock Fund

Statement of Operations
For the Six Month Period Ended April 30, 2009 (Unaudited)

(000’s Omitted)

Investment Income:
Dividends	$	4,709
Interest		1
Securities lending		62
Less: Foreign tax withheld		(89	)
Total investment income		4,683
Expenses:
Investment management fees		1,418
Transfer agent fees		1,203
Distribution fees
Class A		320
Class B		224
Class C		274
Class R3		—
Class R4		—
Custodian fees		11
Accounting services		27
Registration and filing fees		54
Board of Directors’ fees		7
Audit fees		13
Other expenses		123
Total expenses (before waivers and fees paid indirectly)		3,674
Expense waivers		(701	)
Transfer agent fee waivers		(672	)
Commission recapture		(14	)
Custodian fee offset		—
Total waivers and fees paid indirectly		(1,387	)
Total expenses, net		2,287
Net investment income		2,396
Net Realized Loss on Investments, Other Financial Instruments and Foreign Currency Transactions:
Net realized loss on investments in securities		(152,816	)
Net realized gain on futures		463
Net realized gain on foreign currency transactions		3,311
Net Realized Loss on Investments, Other Financial Instruments and Foreign Currency Transactions		(149,042	)
Net Changes in Unrealized Appreciation of Investments and Foreign Currency Transactions:
Net unrealized appreciation of investments		134,651
Net unrealized depreciation on translation of other assets and liabilities in foreign currencies		(3,293	)
Net Changes in Unrealized Appreciation of Investments and Foreign Currency Transactions		131,358
Net Loss on Investments, Other Financial Instruments and Foreign Currency Transactions		(17,684	)
Net Decrease in Net Assets Resulting from Operations	$	(15,288	)

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

8

The Hartford Stock Fund

Statement of Changes in Net Assets

(000’s Omitted)

	For the Six-Month
	Period Ended			For the
	April 30, 2009			Year Ended
	(Unaudited)			October 31, 2008
Operations:
Net investment income	$	2,396		$	2,741
Net realized loss on investments, other financial instruments and foreign currency transactions		(149,042	)		(106,097	)
Net unrealized appreciation (depreciation) of investments and foreign currency transactions		131,358			(311,566	)
Net decrease in net assets resulting from operations		(15,288	)		(414,922	)
Distributions to Shareholders:
From net investment income
Class A		(5,545	)		(726	)
Class B		(142	)		—
Class C		(396	)		—
Class I		(4	)		—
Class R3		—			—
Class R4		(1	)		—
Class R5		—			—
Class Y		(412	)		(469	)
Total distributions		(6,500	)		(1,195	)
Capital Share Transactions:
Class A		(23,705	)		(95,535	)
Class B		(12,101	)		(55,794	)
Class C		(7,557	)		(24,459	)
Class I		85			100
Class R3		6			(4	)
Class R4		(14	)		10
Class Y		(27,846	)		13,830
Net decrease from capital share transactions		(71,132	)		(161,852	)
Net decrease in net assets		(92,920	)		(577,969	)
Net Assets:
Beginning of period		481,541			1,059,510
End of period	$	388,621		$	481,541
Accumulated undistributed (distribution in excess of) net investment income	$	(1,293	)	$	2,811

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

9

The Hartford Stock Fund

Notes to Financial Statements
April 30, 2009 (Unaudited)

(000’s Omitted)

1.	Organization:
	The Hartford Mutual Funds, Inc. (“Company”) is an open-end management investment company comprised of fifty-two portfolios. Financial statements for The Hartford Stock Fund (the “Fund”), a series of the Company, are included in this report.
	The Company is organized under the laws of the State of Maryland and is registered with the Securities and Exchange Commission (“SEC”) under the Investment Company Act of 1940, as amended (“1940 Act”). The Fund is a diversified open-end management investment company.
	Class A shares are sold with a front-end sales charge of up to 5.50%. Class B shares are sold with a contingent deferred sales charge which is assessed on the lesser of the per share net asset value (“NAV”) of the shares at the time of redemption or the original purchase price, and declines from up to 5.00% to zero depending on the period of time the shares are held. Class C shares are sold with a contingent deferred sales charge of up to 1.00% on shares redeemed within twelve months of purchase. Class I shares are sold without sales charges to certain eligible investors through advisory fee-based wrap programs. Classes R3, R4, R5 shares, which are offered to employer-sponsored retirement plans, and Class Y shares, which are sold to certain eligible institutional investors, are sold without a sales charge. All classes of shares have identical voting, redemption, dividend, liquidation and other rights and the same terms and conditions, with the exceptions that each class may have different expenses, which may affect performance, and except that Class B shares automatically convert to Class A shares after 8 years.
	Effective at the close of business on September 30, 2009 (the “Close Date”), no new or additional investments will be allowed in Class B shares of The Hartford Mutual Funds (including investments through any systematic investment plan). After the Close Date, existing shareholders of Class B shares may continue to hold their Class B shares, exchange their Class B shares for Class B shares of another Hartford Mutual Fund (as permitted by existing exchange privileges), and redeem their Class B shares as described in the Fund’s prospectus. Reinstatement privileges with respect to Class B shares will continue under the current policy. If you have chosen to reinvest capital gains and dividends, any such capital gains or dividends on Class B shares will continue to be reinvested in Class B shares of the Fund. For Class B shares outstanding as of the Close Date, all Class B share attributes, including the 12b-1 fee, contingent deferred sales charge schedule, and conversion to Class A shares remain unchanged.

2.	Significant Accounting Policies:
	The following is a summary of significant accounting policies of the Fund, which are in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”).

a)	Security Transactions and Investment Income — Security transactions are recorded on the trade date (the date the order to buy or sell is executed). Security gains and losses are determined on the basis of identified cost.
	Dividend income is accrued as of the ex-dividend date, except that certain dividends for foreign securities where the ex-dividend date may have passed are recorded as soon as the Fund is informed of the dividend in the exercise of reasonable diligence. Interest income, including amortization of premium and accretion of discounts, is accrued on a daily basis.
b)	Security Valuation — The Fund generally uses market prices in valuing portfolio securities. If market prices are not readily available or are deemed unreliable, the Fund will use the fair value of the security as determined in good faith under policies and procedures established by and under the supervision of the Fund’s Board of Directors. Market prices may be deemed unreliable, for example, if a security is thinly traded or if an event has occurred after the close of the security’s primary markets, but before the close of the New York Stock Exchange (the “Exchange”) (normally 4:00 p.m. Eastern Time, referred to as the “Valuation Time”) that is expected to affect the value of the portfolio security. The

10

circumstances in which the Fund may use fair value pricing include, among others: (i) the occurrence of events that are significant to a particular issuer, such as mergers, restructuring or defaults; (ii) the occurrence of events that are significant to an entire market, such as natural disasters in a particular region or governmental actions; (iii) trading restrictions on securities; (iv) thinly traded securities and (v) market events such as trading halts and early market closings. In addition, with respect to the valuation of stocks primarily traded on foreign markets, the Fund uses a fair value pricing service approved by the Fund’s Board of Directors, which employs quantitative models that evaluate changes in the value of foreign market proxies (e.g., futures contracts, ADR’s, exchange traded funds (“ETF’s”)) after the close of the foreign markets but before the close of the Exchange. Securities that are primarily traded on foreign markets may trade on days that are not business days of the Fund. The value of the foreign securities in which the Fund invests may change on days when a shareholder will not be able to purchase or redeem shares of the Fund. Fair value pricing is subjective in nature and the use of fair value pricing by the Fund may cause the NAV of its shares to differ significantly from the NAV that would have been calculated using market prices at the close of the exchange on which a portfolio security is primarily traded but before the close of the Exchange. There can be no assurance that the Fund could obtain the fair value assigned to a security if the Fund were to sell the security at approximately the time at which the Fund determines its NAV.

Exchange traded equity securities shall be valued at the last reported sale price on the exchange or market on which the security is primarily traded (the “Primary Market”) at the Valuation Time. If the security did not trade on the Primary Market, it may be valued at the Valuation Time at the last reported sale price on another exchange where it trades. The value of an equity security not traded on any exchange but traded on the Nasdaq Stock Market, Inc. (“Nasdaq”) or another over-the-counter market shall be valued at the last reported sale price or official closing price on the exchange or market on which the security is traded as of the Valuation Time. If it is not possible to determine the last reported sale price or official closing price on the relevant exchange or market at the Valuation Time, the value of the security shall be taken to be the most recent mean between bid and asked prices on such exchange or market at the Valuation Time.

Securities of foreign issuers and non-dollar securities are translated from the local currency into U.S. dollars using prevailing exchange rates.

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

A forward currency contract shall be valued based on the price of the underlying currency at the prevailing interpolated exchange rate, which is a combination of the spot currency rate and the forward currency rate. Spot currency rates and forward currency rates are obtained from an independent pricing service on a daily basis not more than one hour before the Valuation Time.

Other derivative or contractual type instruments shall be valued using market prices if such instruments trade on an exchange or market. If such instruments do not trade on an exchange or market, such instruments shall be valued at a price at which the counterparty to such contract would repurchase the instrument. In the event that the counterparty cannot provide a price, such valuation may be determined in accordance with procedures established by the Fund’s Board of Directors.

c)

Foreign Currency Transactions — The accounting records of the Fund are maintained in U.S. dollars. All assets and liabilities initially expressed in foreign currencies are converted into U.S. dollars at the prevailing exchange rates. Purchases and sales of investment securities, dividend and interest income and certain expenses are translated at the rates of exchange prevailing on the respective dates of such transactions.

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

11

The Hartford Stock Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)

(000’s Omitted)

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

d)	Securities Lending — The Fund may lend its securities to certain qualified brokers who pay the Fund negotiated lender fees. The loans are fully collateralized at all times with cash and/or U.S. Government Securities and/or repurchase agreements. The cash collateral is then invested in short-term money market instruments. The repurchase agreements are fully collateralized by U.S. Government Securities. The adequacy of the collateral for securities on loan is monitored on a daily basis. For instances where the market value of collateral falls below the market value of the securities out on loan, such collateral is supplemented on the following business day.
	While securities are on loan, the Fund is subject to the following risks: 1) that the borrower may default on the loan and that the collateral could be inadequate in the event the borrower defaults, 2) that the earnings on the collateral invested may not be sufficient to pay fees incurred in connection with the loan, 3) that the principal value of the collateral invested may decline and may not be sufficient to pay back the borrower for the amount of the collateral posted, 4) that the borrower may use the loaned securities to cover a short sale which may place downward pressure on the market prices of the loaned securities, 5) that return of loaned securities could be delayed and could interfere with portfolio management decisions and 6) that any efforts to recall the securities for purposes of voting a proxy may not be effective. The Fund had no securities out on loan as of April 30, 2009.
e)	Joint Trading Account — Pursuant to an exemptive order issued by the SEC, the Fund may transfer uninvested cash balances into a joint trading account managed by Wellington Management Company, LLP (“Wellington”). These balances may be invested in one or more repurchase agreements and/or short-term money market instruments.
f)	Repurchase Agreements — A repurchase agreement is an agreement by which the seller of a security agrees to repurchase the security sold at a mutually agreed upon time and price. At the time the Fund enters into a repurchase agreement, the value of the underlying collateral security(ies), including accrued interest, will be equal to or exceed the value of the repurchase agreement. Securities that serve to collateralize the repurchase agreement are held by the Fund’s custodian in book entry or physical form in the custodial account of the Fund or in a third party custodial account. Repurchase agreements are valued at cost plus accrued interest. The Fund, as shown on the Schedule of Investments, had outstanding repurchase agreements as of April 30, 2009.
g)	Forward Foreign Currency Contracts — The Fund may enter into forward foreign currency contracts that obligate the Fund to repurchase/replace or sell currencies at specified future dates. Forward foreign currency contracts may be used to hedge against adverse fluctuations in exchange rates between currencies.
	Forward foreign currency contracts involve elements of market risk in excess of the amount reflected in the Statement of Assets and Liabilities. In addition, risks may arise upon entering into these contracts from the potential inability of the counterparties to meet the terms of the contracts and from unanticipated movements in the value of the foreign currencies relative to the U.S. dollar.
h)	Indexed Securities — The Fund may invest in indexed securities whose values are linked to changes in interest rates, indices, or other underlying instruments. The Fund uses these securities to increase or decrease its exposure to different underlying instruments and to gain exposure to markets that might be difficult to invest in using conventional securities. Indexed securities may be more volatile than their underlying instruments, but any loss is limited to the amount of the original investment and there may be a limit to the potential appreciation of the investment. The Fund had no investments in indexed securities as of April 30, 2009.

12

i)	Fund Share Valuation and Dividend Distributions to Shareholders — Orders for the Fund’s shares are executed in accordance with the investment instructions of the shareholders. The NAV of the Fund’s shares is determined as of the close of each business day of the Exchange. The NAV is determined separately for each class of the Fund by dividing the Fund’s net assets attributable to that class by the number of shares of the class outstanding. Orders for the purchase of the Fund’s shares prior to the close of the Exchange on any day on which the Exchange is open for business are priced at the NAV determined as of the close of the Exchange. Orders after the close of the Exchange, or on a day on which the Exchange and/or the Fund is not open for business, are priced at the next determined NAV.
	The Fund intends to distribute substantially all of its net investment income and net realized capital gains to shareholders no less frequently than once a year. Normally, dividends from net investment income are declared and paid annually. Dividends are paid on shares beginning on the business day after the day when the funds used to purchase the shares are collected by the transfer agent for the Fund. Unless shareholders specify otherwise, all dividends will be automatically reinvested in additional full or fractional shares of the Fund.
	Distributions from net investment income, realized capital gains and capital are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP with respect to character and timing. These differences include but are not limited to foreign currency gains and losses, losses deferred due to wash sales adjustments, adjustments related to Passive Foreign Investment Companies and certain derivatives, and excise tax regulations. Permanent book and federal income tax basis differences relating to shareholder distributions will result in reclassifications to certain of the Fund’s capital accounts (see Federal Income Taxes: Reclassification of Capital Accounts footnote).
j)	Illiquid and Restricted Securities — The Fund is permitted to invest up to 15% of its net assets in illiquid securities. “Illiquid Securities” are those that may not be sold or disposed of in the ordinary course of business within seven days, at approximately the price used to determine the Fund’s NAV. The Fund may not be able to sell illiquid securities or other investments when its sub-adviser considers it desirable to do so or may have to sell such securities or investments at a price that is lower than the price that could be obtained if the securities or investments were more liquid. A sale of illiquid securities or other investments may require more time and may result in higher dealer discounts and other selling expenses than does the sale of those that are liquid. Illiquid securities and investments also may be more difficult to value, due to the unavailability of reliable market quotations for such securities or investments, and investment in them may have an adverse impact on the Fund’s NAV. The Fund may also purchase certain restricted securities, commonly known as Rule 144A securities, that can be resold to institutions and which may be determined to be liquid pursuant to policies and guidelines established by the Fund’s Board of Directors. The Fund, as shown in the Schedule of Investments, had illiquid or restricted securities as of April 30, 2009.
k)	Use of Estimates — The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and the reported amounts of income and expenses during the period. Operating results in the future could vary from the amounts derived from management’s estimates.
l)	Financial Accounting Standards Board Financial Accounting Standards No. 157 — Effective November 1, 2008, the Fund adopted Financial Accounting Standards Board (“FASB”) Statement of Financial Accounting Standards No. 157, “Fair Value Measurements” (“FAS 157”). This standard clarifies the definition of fair value for financial reporting, establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements. Fair value is defined under FAS 157 as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Under FAS 157, a fair value measurement should reflect all of the assumptions that market participants would use in pricing the asset or liability, including assumptions about the risk inherent in a particular valuation technique, the effect of a restriction on the sale or use of an asset, and the risk of nonperformance.

13

The Hartford Stock Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)

(000’s Omitted)

Various inputs are used in determining the value of the Fund’s investment. These inputs are summarized, per FAS 157, into three broad hierarchy levels. This hierarchy is based on whether the valuation inputs are observable or unobservable. These levels are:

• Level 1 — Quoted prices in active markets for identical securities. Level 1 includes exchange-traded instruments such as domestic equities, some foreign equities, options, futures, mutual funds, ETF’s, and rights and warrants.

• Level 2 — Observable inputs other than Level 1 prices, such as quoted prices for similar securities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the security. Level 2 includes debt securities that are traded less frequently than exchange-traded instruments and that are valued using third party pricing services and foreign equities, whose value is determined using a multi-factor regression model with inputs that are observable in the market; and money market instruments, which are carried at amortized cost.

• Level 3 — Significant unobservable inputs that are supported by little or no market activity. Level 3 includes financial instruments whose values are determined using broker quotes and require significant management judgment or estimation. This category includes broker quoted securities, long dated OTC options and securities where trading has been halted or there are certain restrictions on trading. While these securities are priced using unobservable inputs, the valuation of these securities reflects the best available data and management believes the prices are a good representation of exit price.

Individual securities within any of the above mentioned asset classes may be assigned a different hierarchical level than those presented above, as individual circumstances dictate.

FAS 157 also requires that a roll forward reconciliation be shown for all Level 3 securities from the beginning of the reporting period to the end of the reporting period. Part of this reconciliation includes transfers in and/or out of Level 3. For purposes of this reconciliation, transfers in are shown at the end of period fair value and transfers out are shown at the beginning of period fair value.

Refer to the valuation hierarchy levels summary and the Level 3 roll forward reconciliation found following the Schedule of Investments.

FASB Staff Position No. 157-4 — In April 2009, FASB released FASB Staff Position No. 157-4, “Determining Fair Value When the Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly” (“FSP FAS 157-4”). FSP FAS 157-4 provides additional guidance on determining whether a market for a financial asset is not active and a transaction is not distressed when measuring fair value under FAS 157. The FSP also requires additional disclosure detail on debt and equity securities by major investment categories. FSP FAS 157-4 is effective for interim and annual periods ending after June 15, 2009. At this time, management is evaluating the implications of FSP FAS 157-4 and does not believe it will impact valuation but will require additional disclosure. This additional disclosure has not yet been implemented.

m)

Financial Accounting Standards Board Financial Accounting Standards No. 161 — In March 2008, the FASB released Statement of Financial Accounting Standards No. 161, “Disclosures about Derivative Instruments and Hedging Activities” (“FAS 161”). FAS 161 requires companies to disclose information detailing the objectives and strategies for using derivative instruments, the level of derivative activity entered into by the company and any credit risk-related contingent features of the agreements. The application of FAS 161 is required for fiscal years and interim periods beginning after November 15, 2008. At this time, management is evaluating the implications of FAS 161 and has not yet implemented the new disclosure standard.

n)

Indemnifications: Under the Company’s organizational documents, the Company shall indemnify its officers and directors to the full extent required or permitted under Maryland General Corporation Law and the federal securities law. In addition, the Company, on behalf of the Fund, may enter into contracts that contain a variety of indemnifications. The

14

Company’s maximum exposure under these arrangements is unknown. However, the Company has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote.

3. Federal Income Taxes:

a)

Federal Income Taxes — For federal income tax purposes, the Fund intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code (“IRC”) by distributing substantially all of its taxable net investment income and net realized capital gains to its shareholders and otherwise complying with the requirements of regulated investment companies. The Fund has distributed substantially all of its income and capital gains in prior years and the Fund intends to distribute substantially all of its income and gains during the calendar year ending December 31, 2009. Accordingly, no provision for federal income or excise taxes has been made in the accompanying financial statements. Distributions from short-term capital gains are treated as ordinary income distributions for federal income tax purposes.

b)

The tax character of distributions paid by the Fund for the periods indicated is as follows (as adjusted for dividends payable):

	For the Year Ended		For the Year Ended
	October 31, 2008		October 31, 2007
Ordinary Income	$	1,195	$	4,121

As of October 31, 2008, the Fund’s components of distributable earnings (deficit) on a tax basis were as follows:

	Amount
Undistributed Ordinary Income	$	6,075
Accumulated Capital Losses*	$	(234,833	)
Unrealized Depreciation†	$	(257,687	)
Total Accumulated Deficit	$	(486,445	)

*	The Fund has capital loss carryforwards that are identified in the Capital Loss Carryforward note that follows.
†	The differences between book-basis and tax-basis unrealized appreciation (depreciation) are attributable to the tax deferral of wash sales losses, the mark-to-market adjustment for certain derivatives in accordance with IRC Sec. 1256, the mark to market for Passive Foreign Investment Companies and basis differences in real estate investment trusts.

c) Reclassification of Capital Accounts — In accordance with American Institute of Certified Public Accountants (AICPA) Statement of Position 93-2, Determination, Disclosure, and Financial Statement Presentation of Income, Capital Gain, and Return of Capital Distributions by Investment Companies, the Fund has recorded reclassifications in its capital accounts. These reclassifications had no impact on the NAV of the Fund. The reclassifications are a result of permanent differences between GAAP and tax accounting for such items as net operating losses that reduce distribution requirements. Adjustments are made to reflect the impact these items have on current and future distributions to shareholders. Therefore, the source of the Fund’s distributions may be shown in the accompanying Statement of Changes in Net Assets as from net investment income, from net realized gains on investments or from capital depending on the type of book and tax differences that exist. As of October 31, 2008, the Fund recorded reclassifications to increase undistributed net investment income by $86 and decrease accumulated net realized loss by $86.

15

The Hartford Stock Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)

(000’s Omitted)

d) Capital Loss Carryforward — At October 31, 2008 (tax-year-end), the Fund had capital loss carryforwards for U.S. federal income tax purposes of approximately:

Year	Amount
2011	$	138,221
2016		96,612
Total	$	234,833

e) Financial Accounting Standards Board Interpretation No. 48 — On July 13, 2006, the FASB released FASB Interpretation No. 48 “Accounting for Uncertainty in Income Taxes” (“FIN 48”). FIN 48 provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. The Fund adopted FIN 48 for fiscal years beginning after December 15, 2006. Management has evaluated the implications of FIN 48 for all open tax years (tax years ended October 31, 2006 — 2008) and has determined there is no impact to the Fund’s financial statements.

4. Expenses:

a)

Investment Management Agreements — Hartford Investment Financial Services, LLC (“HIFSCO”) serves as investment manager to the Fund pursuant to an Investment Management Agreement with The Hartford Mutual Funds, Inc. As investment manager, HIFSCO has overall investment supervisory responsibility for the Fund. In addition, HIFSCO provides administrative personnel, services, equipment, facilities and office space for proper operation of the Fund. HIFSCO has contracted with Wellington for the provision of day-to-day investment management services to the Fund in accordance with the Fund’s investment objective and policies. The Fund pays a fee to HIFSCO, a portion of which may be used to compensate Wellington.

The schedule below reflects the rates of compensation paid to HIFSCO for investment advisory services rendered during the six-month period ended April 30, 2009; the rates are accrued daily and paid monthly:

Average Daily Net Assets	Annual Fee
On first $500 million		0.7500	%
On next $500 million		0.7000	%
On next $4 billion		0.6500	%
On next $5 billion		0.6475	%
Over $10 billion		0.6450	%

b) Accounting Services Agreement — Pursuant to the Fund Accounting Agreement between Hartford Life Insurance Company (“HLIC”) and the Fund, HLIC provides accounting services to the Fund and receives monthly compensation on the Fund’s average net assets. The Fund’s accounting service fees are accrued daily and paid monthly.

Average Daily Net Assets	Annual Fee
On first $5 billion		0.014	%
On next $5 billion		0.012	%
Over $10 billion		0.010	%

16

c) Operating Expenses — Allocable expenses incurred by the Company are allocated to each Fund and allocated to classes within the Fund in proportion to the average daily net assets of the Fund and each class, except where allocation of certain expenses is more fairly made directly to the Fund or to specific classes within a Fund. During the six-month period ended April 30, 2009, HIFSCO has contractually limited the total operating expenses of this Fund, exclusive of taxes, interest expense, brokerage commissions, certain distribution expenses and extraordinary expenses as follows:

Class A	Class B	Class C	Class I	Class R3	Class R4	Class R5	Class Y
1.25%	NA	NA	1.00%	1.50%	1.20%	0.90%	NA

d)

Fees Paid Indirectly — The Fund has entered into agreements with State Street Global Markets, LLC and Russell Implementation Services Inc. to partially recapture non-discounted trade commissions. Such rebates are used to pay a portion of the Fund’s expenses. In addition, the Fund’s custodian bank has also agreed to reduce its fees when the Fund maintains cash on deposit in the non-interest-bearing custody account. For the six-month period ended April 30, 2009, these amounts are included in the Statement of Operations.

The ratio of expenses to average net assets in the accompanying financial highlights excludes the reduction in expenses related to fees paid indirectly. Had the fees paid indirectly been included, the annualized expense ratio for the periods listed below would have been as follows:

	Annualized
	Six-Month
	Period			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended
	Ended April			October 31,			October 31,			October 31,			October 31,			October 31,
	30, 2009			2008			2007			2006			2005			2004
Class A Shares		0.87	%		1.17	%		1.27	%		1.26	%		1.31	%		1.42	%
Class B Shares		2.17			2.08			2.10			2.10			2.21			2.18
Class C Shares		2.17			2.05			1.97			2.01			2.07			2.03
Class I Shares		0.91			0.76	*
Class R3 Shares		1.50			1.50			1.51	†
Class R4 Shares		1.20			1.20			1.19‡
Class R5 Shares		0.90			0.88			0.92§
Class Y Shares		0.86			0.78			0.75			0.76			0.82			0.80

*	From May 30, 2008 (commencement of operations), through October 31, 2008
†	From December 22, 2006 (commencement of operations), through October 31, 2007
‡	From December 22, 2006 (commencement of operations), through October 31, 2007
§	From December 22, 2006 (commencement of operations), through October 31, 2007

e)

Distribution and Service Plan for Class A, B, C, R3 and R4 Shares — HIFSCO is the principal underwriter and distributor of the Fund. HIFSCO is engaged in distribution activities, which include marketing and distribution of shares through broker-dealers, financing distribution costs and maintaining financial books and records. For the six-month period ended April 30, 2009, HIFSCO received front-end load sales charges of $136 and contingent deferred sales charges of $32 from the Fund.

The Fund has adopted Distribution and Service Plans in accordance with Rule 12b-1 of the Investment Company Act of 1940, as amended, to compensate the distributor (HIFSCO) for activities intended to result in the sale and distribution of Classes A, B, C, R3 and R4 shares and for providing services for shareholders. The Rule 12b-1 plan applicable to Class A shares of the Funds provides for payment of a Rule 12b-1 fee of up to 0.35% of average daily net assets; however, the Board of Directors has currently authorized 12b-1 payments of only up to 0.25%. Some or all of the fee may be used for shareholder servicing expenses with the remainder used for distribution expenses. Some or the entire Rule 12b-1 fee for Class B shares may be remitted to broker-dealers for distribution and/or shareholder account services. Under the Class B Plan, the Fund pays the distributor 1.00% of the average daily net assets of Class B shares that are outstanding for 8

17

The Hartford Stock Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)

(000’s Omitted)

	years or less, 0.25% of which is a fee for services provided to existing shareholders with the remainder used for distribution expenses. After eight years, Class B shares convert to Class A shares. Upon conversion to Class A shares, the Class A plan described above will apply to those shares. Under the Class C Plan, the Fund pays the distributor 1.00% of the average daily net assets of Class C shares outstanding, 0.25% of which is intended as a fee for services provided to existing shareholders with the remainder used for distribution expenses. For Class C shares, some or the entire fee may be remitted to broker-dealers for distribution and/or shareholder account services. Class R3 shares have a distribution fee of 0.50% and Class R4 shares have a distribution fee of 0.25%. For Classes R3 and R4 shares, some or the entire fee may be remitted to broker dealers for distribution and/or shareholder account services. The Fund’s 12b-1 fees are accrued daily and paid monthly.
	For the six-month period ended April 30, 2009, total sales commissions paid to affiliated brokers/dealers of The Hartford for distributing the Fund’s shares were $10. These commissions are in turn paid to sales representatives of the broker/dealers.
f)	Other Related Party Transactions — Certain officers of the Fund are directors and/or officers of HIFSCO and/or The Hartford or its subsidiaries. For the six-month period ended April 30, 2009, a portion of the Fund’s chief compliance officer’s salary was paid by the Fund in the amount of $1. Hartford Administrative Services Company (“HASCO”), an indirect wholly owned subsidiary of The Hartford, provides transfer agent services to the Fund. HASCO was compensated $655 for providing such services. These fees are accrued daily and paid monthly.
g)	Payments from Affiliate:
	The total return in the accompanying financial highlights includes payment from affiliates. Had the payment from affiliates been excluded, the total return for the periods listed below would have been as follows:

	Impact from			Total Return
	Payment from			Excluding
	Affiliate for SEC			Payment from
	Settlement for the			Affiliate for the
	Year Ended			Year Ended
	October 31, 2007			October 31, 2007
Class A		0.13	%		16.67	%
Class B		0.14			15.72
Class C		0.14			15.86
Class Y		0.12			17.31

5. Affiliate Holdings:

As of April 30, 2009, affiliates of The Hartford had ownership of shares in the Fund as follows:

	Shares
Class I		5
Class R3		—	*
Class R4		—	*
Class R5		—	*

* Due to the presentation of the financial statements in thousands, the number of shares held round to zero.

18

6.	Investment Transactions:
	For the six-month period ended April 30, 2009, the Fund’s aggregate purchases and sales of investment securities (excluding short-term investments) were as follows:

	Amount
Cost of Purchases Excluding U.S. Government Obligations	$	158,242
Sales Proceeds Excluding U.S. Government Obligations		236,082

7.	Capital Share Transactions:
	The following information is for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	For the Six-Month Period Ended April 30, 2009												For the Year Ended October 31, 2008
			Shares					Shares							Shares					Shares
			Issued for					Issued		Net Increase					Issued for					Issued		Net Increase
	Shares		Reinvested		Shares			from		(Decrease) of			Shares		Reinvested		Shares			from		(Decrease) of
	Sold		Dividends		Redeemed			Merger		Shares			Sold		Dividends		Redeemed			Merger		Shares
Class A
Shares		1,264		445		(3,719	)		—		(2,010	)		2,665		31		(7,525	)		—		(4,829	)
Amount	$	15,051	$	5,393	$	(44,149	)	$	—	$	(23,705	)	$	54,575	$	705	$	(150,815	)	$	—	$	(95,535	)
Class B
Shares		101		12		(1,214	)		—		(1,101	)		158		—		(3,108	)		—		(2,950	)
Amount	$	1,111	$	138	$	(13,350	)	$	—	$	(12,101	)	$	2,991	$	—	$	(58,785	)	$	—	$	(55,794	)
Class C
Shares		154		32		(870	)		—		(684	)		195		—		(1,503	)		—		(1,308	)
Amount	$	1,738	$	366	$	(9,661	)	$	—	$	(7,557	)	$	3,508	$	—	$	(27,967	)	$	—	$	(24,459	)
Class I
Shares		13		—		(8	)		—		5			5		—		—			—		5
Amount	$	160	$	4	$	(79	)	$	—	$	85		$	100	$	—	$	—		$	—	$	100
Class R3
Shares		1		—		—			—		1			—		—		(1	)		—		(1	)
Amount	$	6	$	—	$	—		$	—	$	6		$	11	$	—	$	(15	)	$	—	$	(4	)
Class R4
Shares		—		—		(1	)		—		(1	)		—		—		—			—		—
Amount	$	—	$	1	$	(15	)	$	—	$	(14	)	$	10	$	—	$	—		$	—	$	10
Class R5
Shares		—		—		—			—		—			—		—		—			—		—
Amount	$	—	$	—	$	—		$	—	$	—		$	—	$	—	$	—		$	—	$	—
Class Y
Shares		152		33		(2,348	)		—		(2,163	)		903		20		(358	)		—		565
Amount	$	1,980	$	412	$	(30,238	)	$	—	$	(27,846	)	$	19,420	$	469	$	(6,059	)	$	—	$	13,830

The following reflects the conversion of Class B Shares into Class A Shares (reflected as Class A Shares issued and Class B shares redeemed) for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	Shares		Dollars
For the Six-Month Period Ended April 30, 2009		436	$	5,168
For the Year Ended October 31, 2008		1,152	$	23,840

8.

Line of Credit:

The Fund is one of several Hartford Funds that participate in a $500 million committed revolving line of credit facility. The facility is to be used for temporary or emergency purposes. Under the arrangement, the Fund is required to own securities having a market value in excess of 300% of the total bank borrowings. The interest rate on borrowings varies depending on the nature of the loan. The facility also requires a fee to be paid based on the amount of the commitment. During the six-month period ended April 30, 2009, the Fund did not have any borrowings under this facility.

19

The Hartford Stock Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)

(000’s Omitted)

9.	Proposed Reorganization:
	On May 6, 2009, the Board of Directors (“Board”) of The Hartford Mutual Funds, Inc. (“Company”) approved a Form of Agreement and Plan of Reorganization (“Reorganization Agreement”) that provides for the reorganization of a series of the Company, The Hartford Stock Fund, into another series of the Company, The Hartford Dividend and Growth Fund (“Reorganization”). The Reorganization does not require shareholder approval.
	Effective as of the close of business on July 31, 2009, in anticipation of the Reorganization, shares of Classes A, B, C, I, R3, R4, R5 and Y of The Hartford Stock Fund will no longer be sold to new investors or existing shareholders (except through reinvested dividends) or be eligible for exchanges from other Hartford Mutual Funds.
	The Board, including all of the Directors who are not “interested persons” of the Company (as that term is defined in the Investment Company Act of 1940, as amended) (“Independent Directors”), carefully considered the proposed Reorganization and have determined that it (1) is in the best interests of The Hartford Stock Fund and The Hartford Dividend and Growth Fund (each, a “Fund” and collectively, the “Funds”) and (2) would not result in a dilution of the interests of shareholders of either Fund. In making these determinations, the Board considered that the Reorganization will provide shareholders of The Hartford Stock Fund with (a) a comparable investment and (b) the enhanced potential to realize economies of scale.
	The Reorganization is expected to occur on or about October 2, 2009 or on such later date as the officers of the Company determine (“Closing Date”). As of the close of business on the Closing Date, pursuant to the Reorganization Agreement, each holder of Class A, Class B, Class C, Class I, Class R3, Class R4, Class R5 and Class Y shares of The Hartford Stock Fund will become the owner of corresponding full and fractional shares of The Hartford Dividend and Growth Fund having an aggregate value equal to the aggregate value of his or her shares of The Hartford Stock Fund. While the net asset value per share and number of shares held in such shareholder’s account will differ following the Reorganization, the total value of such shareholder’s account will remain the same.
	No sales load, commission or other transactional fee will be imposed as a result of the Reorganization. The Funds’ investment adviser, HIFSCO, has agreed to bear all of the expenses incurred in connection with the Reorganization, except for any brokerage fees and brokerage expenses associated with the Reorganization. In addition, the closing of the Reorganization is contingent upon, among other things, receiving an opinion of counsel that the proposed Reorganization will qualify as a tax-free reorganization for federal income tax purposes. As a result, it is anticipated that shareholders will not recognize any gain or loss in connection with the proposed Reorganization.
	Shareholders of The Hartford Stock Fund who determine that they do not wish to become shareholders of The Hartford Dividend and Growth Fund may (1) redeem their shares of The Hartford Stock Fund before the Closing Date or (2) exchange their shares of The Hartford Stock Fund before the Closing Date for shares of another Hartford Mutual Fund by contacting the Company or their broker, financial intermediary, or other financial institution. Please note that a redemption or an exchange of shares of The Hartford Stock Fund will be a taxable event and a shareholder may recognize a gain or loss in connection with that transaction.
10.	Industry Classifications:
	Other than the industry classifications “Other Investment Pools and Funds” and “Exchange Traded Funds”, equity industry classifications used in this report are the Global Industry Classification Standard, which was developed by and is the exclusive property and service mark of MSCI, Inc. and Standard & Poor’s.

20

The Hartford Stock Fund

Financial Highlights — (Unaudited)

		— Selected Per-Share Data — (a)																									— Ratios and Supplemental Data —
																																		Ratio of			Ratio of			Ratio of
																																		Expenses			Expenses			Expenses
																																		to Average			to Average			to Average
																																		Net Assets			Net Assets			Net Assets
																																		Before			After			After
								Net																										Waivers			Waivers			Waivers
								Realized																										and			and			and
								and Un-									Distrib-							Net										Reimburse-			Reimburse-			Reimburse-			Ratio of
			Net			Pay-		realized						Dividends			utions							Increase			Net					Net		ments and			ments and			ments and			Net Invest-			Port-
	Net Assets		Invest-			ments		Gain						from Net			from		Distri-					(Decrease)			Asset					Asset at		Including			Including			Excluding			ment			folio
	Value at		ment			from		(Loss) on			Total from			Invest-			Realized		butions		Total			in Net			Value at					End of		Expenses			Expenses			Expenses			Income to			Turn-
	Beginning		Income			(to)		Invest-			Investment			ment			Capital		from		Distri-			Asset			End of		Total			Period		not Subject			not Subject			not Subject			Average			over
Class	of Period		(Loss)			Affiliate		ments			Operations			Income			Gains		Capital		butions			Value			Period		Return(b)			(000’s)		to Cap(c)			to Cap(c)			to Cap(c)			Net Assets			Rate(d)
For the Six-Month Period Ended April 30, 2009 (Unaudited)(e)
A	$	13.75	$	0.10		$	—	$	(0.27	)	$	(0.17	)	$	(0.26	)	$	—	$	—	$	(0.26	)	$	(0.43	)	$	13.32		(1.15)	%(f)	$	271,325		1.80	%(g)		0.88	%(g)		0.88	%(g)		1.59	%(g)		41	%
B		12.65		0.02			—		(0.24	)		(0.22	)		(0.03	)		—		—		(0.03	)		(0.25	)		12.40		(1.76	) (f)		42,831		2.77	(g)		2.17	(g)		2.17	(g)		0.31	(g)		—
C		12.76		0.02			—		(0.24	)		(0.22	)		(0.08	)		—		—		(0.08	)		(0.30	)		12.46		(1.76	) (f)		56,615		2.36	(g)		2.17	(g)		2.17	(g)		0.30	(g)		—
I		13.77		0.10			—		(0.29	)		(0.19	)		(0.33	)		—		—		(0.33	)		(0.52	)		13.25		(1.18	) (f)		131		0.91	(g)		0.91	(g)		0.91	(g)		1.68	(g)		—
R3		14.19		0.06			—		(0.28	)		(0.22	)		(0.20	)		—		—		(0.20	)		(0.42	)		13.77		(1.48	) (f)		27		1.79	(g)		1.50	(g)		1.50	(g)		0.91	(g)		—
R4		14.29		0.09			—		(0.30	)		(0.21	)		(0.27	)		—		—		(0.27	)		(0.48	)		13.81		(1.34	) (f)		15		1.44	(g)		1.20	(g)		1.20	(g)		1.47	(g)		—
R5		14.32		0.10			—		(0.28	)		(0.18	)		(0.32	)		—		—		(0.32	)		(0.50	)		13.82		(1.15	) (f)		6		1.00	(g)		0.90	(g)		0.90	(g)		1.54	(g)		—
Y		14.34		0.11			—		(0.30	)		(0.19	)		(0.33	)		—		—		(0.33	)		(0.52	)		13.82		(1.21	) (f)		17,671		0.87	(g)		0.87	(g)		0.87	(g)		1.86	(g)		—
For the Year Ended October 31, 2008
A		24.47		0.14			—		(10.83	)		(10.69	)		(0.03	)		—		—		(0.03	)		(10.72	)		13.75		(43.74	)		307,712		1.41			1.18			1.18			0.56			90
B		22.69		(0.21	)		—		(9.83	)		(10.04	)		—			—		—		—			(10.04	)		12.65		(44.24	)		57,627		2.27			2.09			2.09			(0.36	)		—
C		22.89		(0.10	)		—		(10.03	)		(10.13	)		—			—		—		—			(10.13	)		12.76		(44.25	)		66,725		2.05			2.05			2.05			(0.32	)		—
I(h)		21.54		0.07			—		(7.84	)		(7.77	)		—			—		—		—			(7.77	)		13.77		(36.08	) (f)		64		0.76	(g)		0.76	(g)		0.76	(g)		0.91	(g)		—
R3		25.40		0.03			—		(11.16	)		(11.13	)		(0.08	)		—		—		(0.08	)		(11.21	)		14.19		(43.95	)		20		1.65			1.50			1.50			0.21			—
R4		25.47		0.08			—		(11.21	)		(11.13	)		(0.05	)		—		—		(0.05	)		(11.18	)		14.29		(43.78	)		34		1.22			1.20			1.20			0.52			—
R5		25.53		0.18			—		(11.27	)		(11.09	)		(0.12	)		—		—		(0.12	)		(11.21	)		14.32		(43.62	)		6		0.89			0.89			0.89			0.85			—
Y		25.56		0.14			—		(11.20	)		(11.06	)		(0.16	)		—		—		(0.16	)		(11.22	)		14.34		(43.53	)		49,353		0.79			0.79			0.79			0.95			—
For the Year Ended October 31, 2007
A		21.04		0.07			0.03		3.43			3.53			(0.10	)		—		—		(0.10	)		3.43			24.47		16.82	(i)		665,897		1.37			1.28			1.28			0.26			96
B		19.58		(0.19	)		0.04		3.26			3.11			—			—		—		—			3.11			22.69		15.88	(i)		170,341		2.20			2.11			2.11			(0.57	)		—
C		19.73		(0.12	)		0.03		3.25			3.16			—			—		—		—			3.16			22.89		16.02	(i)		149,640		2.03			1.98			1.98			(0.44	)		—
R3(j)		22.66		(0.01	)		—		2.75			2.74			—			—		—		—			2.74			25.40		12.09	(f)		42		1.56	(g)		1.51	(g)		1.51	(g)		(0.18	) (g)		—
R4(k)		22.66		0.06			—		2.75			2.81			—			—		—		—			2.81			25.47		12.40	(f)		44		1.25	(g)		1.20	(g)		1.20	(g)		0.29	(g)		—
R5(l)		22.66		0.12			—		2.75			2.87			—			—		—		—			2.87			25.53		12.67	(f)		11		0.97	(g)		0.92	(g)		0.92	(g)		0.57	(g)		—
Y		21.95		0.43			0.06		3.32			3.81			(0.20	)		—		—		(0.20	)		3.61			25.56		17.45	(i)		73,535		0.81			0.76			0.76			0.82			—
For the Year Ended October 31, 2006 (e)
A		18.39		0.11			—		2.58			2.69			(0.04	)		—		—		(0.04	)		2.65			21.04		14.65			684,726		1.41			1.28			1.28			0.53			110
B		17.23		(0.05	)		—		2.40			2.35			—			—		—		—			2.35			19.58		13.64			223,639		2.23			2.12			2.12			(0.30	)		—
C		17.35		(0.04	)		—		2.42			2.38			—			—		—		—			2.38			19.73		13.72			161,554		2.08			2.03			2.03			(0.21	)		—
Y		19.18		0.21			—		2.70			2.91			(0.14	)		—		—		(0.14	)		2.77			21.95		15.21			131,759		0.83			0.78			0.78			1.03			—
For the Year Ended October 31, 2005
A		16.76		0.16			—		1.57			1.73			(0.10	)		—		—		(0.10	)		1.63			18.39		10.36			727,492		1.42			1.33			1.33			0.89			62
B		15.76		—			—		1.47			1.47			—			—		—		—			1.47			17.23		9.33			278,445		2.23			2.23			2.23			(0.02	)		—
C		15.84		0.04			—		1.47			1.51			—			—		—		—			1.51			17.35		9.53			182,587		2.09			2.09			2.09			0.17			—
Y		17.49		0.24			—		1.66			1.90			(0.21	)		—		—		(0.21	)		1.69			19.18		10.91			107,578		0.83			0.83			0.83			1.24			—
For the Year Ended October 31, 2004
A		16.21		0.03			—		0.52			0.55			—			—		—		—			0.55			16.76		3.39			952,606		1.42			1.42			1.42			0.18			29
B		15.35		(0.10	)		—		0.51			0.41			—			—		—		—			0.41			15.76		2.67			343,148		2.18			2.18			2.18			(0.59	)		—
C		15.41		(0.08	)		—		0.51			0.43			—			—		—		—			0.43			15.84		2.79			256,271		2.03			2.03			2.03			(0.44	)		—
Y		16.81		0.10			—		0.58			0.68			—			—		—		—			0.68			17.49		4.04			80,932		0.80			0.80			0.80			0.80			—

(a)	Information presented relates to a share outstanding throughout the indicated period.
(b)	Assumes initial investment at net asset value at the beginning of each period, reinvestment of all distributions, the complete redemption of the investment at net asset value at the end of each period and no sales charge. Total return would be reduced if sales charges were taken into account.
(c)	Ratios do not include fees paid indirectly (See Expenses in the accompanying Notes to Financial Statements).
(d)	Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between the classes of shares issued.
(e)	Per share amounts have been calculated using average shares outstanding method.
(f)	Not annualized.
(g)	Annualized.
(h)	Commenced operations on May 30, 2008.
(i)	Total return without the inclusion of the Payments from (to) Affiliate, as noted on the Statement of Operations, can be found in Expenses in the accompanying Notes to Financial Statements.
(j)	Commenced operations on December 22, 2006.
(k)	Commenced operations on December 22, 2006.
(l)	Commenced operations on December 22, 2006.

21

The Hartford Stock Fund

Directors and Officers (Unaudited)

The Board of Directors appoints officers who are responsible for the day-to-day operations of the Fund and who execute policies formulated by the Directors. Each director serves until his or her death, resignation, or retirement or until the next annual meeting of shareholders is held or until his or her successor is elected and qualifies.

Directors and officers who are employed by or who have a financial interest in The Hartford are considered “interested” persons of the Fund pursuant to the Investment Company Act of 1940, as amended. Each officer and three of the Fund’s directors, as noted in the chart below, are “interested” persons of the Fund. Each director serves as a director for The Hartford Mutual Funds, Inc., The Hartford Mutual Funds II, Inc., The Hartford Income Shares Fund, Inc., Hartford Series Fund, Inc., and Hartford HLS Series Fund II, Inc., which collectively consist of 100 funds. Correspondence may be sent to directors and officers c/o Hartford Mutual Funds, P.O. Box 2999, Hartford, Connecticut 06104-2999, except that correspondence to Ms. Fagely may be sent to 500 Bielenberg Drive, Woodbury, Minnesota 55125.

The table below sets forth, for each director and officer, his or her name, year of birth, current position with the Fund and date first elected or appointed to The Hartford Mutual Funds, Inc. (“MF”) and The Hartford Mutual Funds II, Inc. (“MF2”), principal occupation, and, for directors, other directorships held. The Fund’s statement of additional information contains further information on the directors and is available free of charge by calling 1-888-843-7824 or writing to Hartford Mutual Funds, P.O. Box 64387, St. Paul, MN 55164-0387.

Information on the aggregate remuneration paid to the directors of the Fund can be found in the Statement of Operations herein. The Fund pays a portion of the Chief Compliance Officer’s compensation, but does not pay salaries or compensation to any of its officers or directors who are employed by The Hartford.

Non-Interested Directors

Lynn S. Birdsong (1946) Director since 2003, Co-Chairman of the Investment Committee

Mr. Birdsong is a private investor. Since 1981, Mr. Birdsong has been a partner in Birdsong Company, an advertising specialty firm. Since 2003, Mr. Birdsong has been an independent director of The Japan Fund. From 2003 to March 2005, Mr. Birdsong was an independent director of the Atlantic Whitehall Funds. From 1979 to 2002, Mr. Birdsong was a managing director of Zurich Scudder Investments, an investment management firm. During his employment with Scudder, Mr. Birdsong was an interested director of The Japan Fund.

Robert M. Gavin, Jr. (1940) Director since 2002 (MF) and 1986 (MF2), Chairman of the Board since 2004

Dr. Gavin is an educational consultant. Prior to September 1, 2001, he was President of Cranbrook Education Community and prior to July 1996, he was President of Macalester College, St. Paul, Minnesota.

Duane E. Hill (1945) Director since 2001 (MF) and 2002 (MF2), Chairman of the Nominating Committee

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

Sandra S. Jaffee (1941) Director since 2005

Ms. Jaffee is Chairman and Chief Executive Officer of Fortent (formerly Searchspace Group), a leading provider of compliance/regulatory technology to financial institutions. Ms. Jaffee served as an Entrepreneur in Residence with Warburg Pincus, a private equity firm, from August 2004 to August 2005. From September 1995 to July 2004, Ms. Jaffee served as Executive Vice President at Citigroup, where she was President and Chief Executive Officer of Citibank’s Global Securities Services (1995-2003).

William P. Johnston (1944) Director since 2005, Chairman of the Compliance Committee

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

22

Phillip O. Peterson (1944) Director since 2002 (MF) and 2000 (MF2), Chairman of the Audit Committee

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

Lemma W. Senbet (1946) Director since 2005

Dr. Senbet is the William E. Mayer Chair Professor of Finance at the University of Maryland, Robert H. Smith School of Business. He was chair of the Finance Department during 1998-2006. Previously he was an endowed professor of finance at the University of Wisconsin-Madison. Also, he was director of the Fortis Funds from March 2000-July 2002. Dr. Senbet served the finance profession in various capacities, including as director of the American Finance Association and President of the Western Finance Association. In 2006, Dr. Senbet was inducted Fellow of Financial Management Association International for his career-long distinguished scholarship and professional service.

Interested Directors and Officers

Thomas M. Marra* (1958) Director since 2002

Mr. Marra has served as President and Chief Operating Officer of The Hartford Financial Services Group, Inc. (“The Hartford”) since 2007. Mr. Marra currently serves as Director of Hartford Life, Inc. (“HL, Inc.”). Mr. Marra served as Chief Operating Officer of Hartford Life Insurance Company, Inc. (“Hartford Life”) (2000-2008), as President of Hartford Life (2002-2008) and as Director of Hartford Life’s Investment Products Division from 1998 to 2000.

* On February 24, 2009, The Hartford and Mr. Marra determined to enter into a mutually agreed separation whereby Mr. Marra will retire, and his role as an executive officer and employee of The Hartford will terminate, effective July 3, 2009. Mr. Marra will resign his position as a Director of the Fund effective June 25, 2009.

Lowndes A. Smith (1939) Director since 2002, Co-Chairman of the Investment Committee

Mr. Smith served as Vice Chairman of The Hartford from February 1997 to January 2002, as President and Chief Executive Officer of Hartford Life, Inc. from February 1997 to January 2002, and as President and Chief Operating Officer of The Hartford Life Insurance Companies from January 1989 to January 2002. Mr. Smith serves as a Director of White Mountains Insurance Group, Ltd., One Beacon Insurance, Symetra Financial and as a Managing Director of Whittington Gray Associates.

John C. Walters* (1962) Director since 2008

Mr. Walters currently serves as Chief Executive Officer, President and Director of HL, Inc. Mr. Walters previously served as President of the U.S. Wealth Management Division of Hartford Life, Inc., as Co-Chief Operating Officer of Hartford Life Insurance Company (2007-2008) and as Executive Vice President and Director of its Investment Products Division (2000-2008). Mr. Walters also serves as Chairman of the Board, Chief Executive Officer, President and Director of Hartford Life Insurance Company and as Executive Vice President of The Hartford. In addition, Mr. Walters is Manager of HL Investment Advisors, LLC (“HL Advisors”).

* Mr. Walters previously served as President and Chief Executive Officer of the Fund (2007 – 2009).

Other Officers

Robert M. Arena, Jr. (1968) President and Chief Executive Officer since 2009 (served as Vice President of the Fund (2006 – 2009)) Mr. Arena serves as Executive Vice President of Hartford Life Insurance Company, (“Hartford Life”). Additionally, Mr. Arena is Director and Senior Vice President of Hartford Administrative Services Company, (“HASCO”), Manager, Chief Executive Officer and President of Hartford Investment Financial Services, LLC (“HIFSCO”) and HL Advisors. Prior to joining The Hartford in 2004, he was Senior Vice President in charge of Product Management for American Skandia/Prudential in the individual annuities division. Mr. Arena joined American Skandia in 1996.

Tamara L. Fagely (1958) Vice President, Treasurer and Controller since 2002 (MF) 1993 (MF2)

Ms. Fagely has been a Vice President of HASCO since 1998 and Chief Financial Officer since 2006. Currently Ms. Fagely is a Vice President of Hartford Life. She served as Assistant Vice President of Hartford Life from December 2001 through March 2005. In addition, Ms. Fagely is Controller and Chief Financial Officer of HIFSCO.

Brian Ferrell (1962) AML Compliance Officer since 2008

Mr. Ferrell has served as Assistant Vice President and AML Compliance Officer for The Hartford since 2006 and as AML Compliance Officer for HASCO and Hartford Investor Services Company, LLC (“HISC”) since 2008. Prior to joining The Hartford in 2006, Mr. Ferrell held various positions at the U.S. Department of the Treasury, (the “Treasury”), from 2001 to 2006 where he served as Chief Counsel for the Treasury’s Financial Crimes Enforcement Network, (“FinCEN”) from 2005 — 2006.

23

The Hartford Stock Fund
Directors and Officers (Unaudited) — (continued)

Thomas D. Jones, III (1965) Vice President and Chief Compliance Officer since 2006

Mr. Jones serves as Chief Compliance Officer for the Hartford Mutual Funds and Vice President and Director of Securities Compliance for The Hartford. He is also Vice President of HIFSCO, HL Advisors, and Hartford Life Insurance Company. Mr. Jones joined The Hartford in 2006 from SEI Investments, where he served as Chief Compliance Officer for its mutual funds and investment advisers. Prior to joining SEI, Mr. Jones was First Vice President and Compliance Director for Merrill Lynch Investment Managers (Americas) (“MLIM”), where he worked from 1992-2004. At MLIM, Mr. Jones was responsible for the compliance oversight of various investment products, including mutual funds, wrap accounts, institutional accounts and alternative investments.

Edward P. Macdonald (1967) Vice President, Secretary and Chief Legal Officer since 2005

Mr. Macdonald serves as Assistant General Counsel and Assistant Vice President of The Hartford and Chief Legal Officer and Vice President of HIFSCO. He also serves as Vice President and Secretary of HASCO, Assistant Vice President of Hartford Life, and Chief Legal Officer, Secretary and Vice President of HL Advisors. Prior to joining The Hartford in 2005, Mr. Macdonald was Chief Counsel, Investment Management for Prudential Financial (formerly American Skandia Investment Services, Inc.). He joined Prudential in April 1999.

Vernon J. Meyer (1964) Vice President since 2006

Mr. Meyer serves as Senior Vice President of Hartford Life and as Director of its Investment Advisory Group in the Individual Markets Group segment. He also serves as Senior Vice President of HIFSCO and HL Advisors. Prior to joining The Hartford in 2004, Mr. Meyer was with MassMutual which he joined in 1987.

D. Keith Sloane (1960) Vice President since 2009

Mr. Sloane is a Senior Vice President of Hartford Life where he serves as Director of mutual fund product management for The Hartford’s mutual funds and 529 college savings businesses. Additionally, Mr. Sloane currently serves as Senior Vice President of HIFSCO, HL Advisors, and HASCO. Prior to joining The Hartford in 2007, Mr. Sloane was Director of product marketing and led the mutual fund business for Wachovia Securities (“Wachovia”) in their investment products group. Mr. Sloane joined Wachovia in 1995.

Jane Wolak (1961) Vice President since 2009

Ms. Wolak currently serves as Vice President of Hartford Life. Ms. Wolak joined Hartford Life as Vice President, Retail Product Services in May 2007. She is also Vice President of HASCO. Previously, Ms. Wolak was with Sun Life Financial where she held the position of Vice President, Service Center Operations from 2001 – 2007.

HOW TO OBTAIN A COPY OF THE FUND’S PROXY VOTING POLICIES AND VOTING RECORDS

A description of the policies and procedures that the Fund uses to determine how to vote proxies relating to portfolio securities and a record of how the Fund voted any proxies for the twelve-month period ended June 30, 2008 is available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov.

QUARTERLY PORTFOLIO HOLDINGS INFORMATION

The Fund files a complete schedule of portfolio holdings with the Commission for the first and third quarters of each fiscal year on Form N-Q. The Fund’s Forms are available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov. The Form N-Q may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330.

24

The Hartford Stock Fund

Expense Example (Unaudited)

Your Fund’s Expenses

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments and contingent deferred sales charges (CDSC) (2) ongoing costs including management fees; distribution fees; and other fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the period of October 31, 2008 through April 30, 2009.

Actual Expenses

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

Hypothetical Example for Comparison Purposes

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

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads) and CDSC. Therefore, the second line 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 are equal to the Fund’s annualized expense ratios multiplied by average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

	Actual return						Hypothetical (5% return before expenses)
					Expenses paid						Expenses paid					Days in
					during the period						during the period					the		Days
	Beginning		Ending Account		October 31, 2008		Beginning		Ending Account		October 31,		Annualized			current		in the
	Account Value		Value		through		Account Value		Value		2008 through		expense			1/2		full
	October 31, 2008		April 30, 2009		April 30, 2009		October 31, 2008		April 30, 2009		April 30, 2009		ratio			year		year
Class A	$	1,000.00	$	988.46	$	4.33	$	1,000.00	$	1,020.43	$	4.40		0.88	%		181		365
Class B	$	1,000.00	$	982.38	$	10.66	$	1,000.00	$	1,014.03	$	10.83		2.17			181		365
Class C	$	1,000.00	$	982.41	$	10.66	$	1,000.00	$	1,014.03	$	10.83		2.17			181		365
Class I	$	1,000.00	$	988.18	$	4.48	$	1,000.00	$	1,020.28	$	4.55		0.91			181		365
Class R3	$	1,000.00	$	985.15	$	7.38	$	1,000.00	$	1,017.35	$	7.50		1.50			181		365
Class R4	$	1,000.00	$	986.56	$	5.91	$	1,000.00	$	1,018.84	$	6.00		1.20			181		365
Class R5	$	1,000.00	$	988.52	$	4.43	$	1,000.00	$	1,020.33	$	4.50		0.90			181		365
Class Y	$	1,000.00	$	987.93	$	4.28	$	1,000.00	$	1,020.48	$	4.35		0.87			181		365

25

The Hartford Strategic Income Fund

Table of Contents

Manager Discussions (Unaudited)	2
Financial Statements
Schedule of Investments at April 30, 2009 (Unaudited)	4
Statement of Assets and Liabilities at April 30, 2009 (Unaudited)	12
Statement of Operations for the Six Month Period Ended April 30, 2009 (Unaudited)	13
Statement of Changes in Net Assets for the Six Month Period Ended April 30, 2009 (Unaudited) and the Year Ended October 31, 2008	14
Notes to Financial Statements (Unaudited)	15
Financial Highlights (Unaudited)	26
Directors and Officers (Unaudited)	27
How to Obtain a Copy of the Fund’s Proxy Voting Policies and Proxy Voting Records (Unaudited)	29
Quarterly Portfolio Holdings Information (Unaudited)	29
Expense Example (Unaudited)	30

The Hartford Strategic Income Fund
(subadvised by Hartford Investment Management Company)

Performance Overview(1) 5/31/07 - 4/30/09
Growth of a $10,000 investment in Class A which includes Sales Charge

Barclays Capital U.S. Aggregate Bond Index is an unmanaged index and is composed of securities from the Barclays Capital Government/Credit Bond Index, Mortgage-Backed Securities Index, Asset-Backed Securities Index and Commercial Mortgage-Backed Securities Index.

You cannot invest directly in an index.

The value of shares will fluctuate so that, when redeemed, shares may be worth more or less than their original cost. The chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.

Investment objective — Seeks a high level of current income. Capital appreciation is a secondary objective.

Average Annual Total Returns(2,3) (as of 4/30/09)

	Inception		1			Since
	Date		Year			Inception
Strategic Income A#		5/31/07		-12.87	%		-5.76	%
Strategic Income A##		5/31/07		-16.79	%		-8.00	%
Strategic Income B#		5/31/07		-13.69	%		-6.52	%
Strategic Income B##		5/31/07		-17.75	%		-8.26	%
Strategic Income C#		5/31/07		-13.49	%		-6.35	%
Strategic Income C##		5/31/07		-14.31	%		-6.35	%
Strategic Income I#		5/31/07		-12.72	%		-5.42	%
Strategic Income Y#		8/31/07		-12.67	%		-5.43	%

#	Without sales charge
##	With sales charge

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)	Growth of a $10,000 investment in Classes B, C, I and Y shares will vary from results seen above due to differences in the expenses charged to these share classes.
(2)	The initial investment in Class A shares reflects the maximum sales charge and Classes B and C reflect CDSC.
(3)	Total returns presented above were calculated using the Fund’s net asset value available to shareholders for sale or redemption of Fund shares on April 30, 2009, which excludes investment transactions as of this date.

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

Portfolio Managers
Michael Bacevich	Mark Niland, CFA	Nasri Toutoungi
Managing Director	Managing Director	Managing Director
Michael Gray, CFA	Peter Perrotti, CFA*	Edward Vaimberg*
Managing Director	Executive Vice President	Senior Vice President

How did the Fund perform?

The Class A shares of The Hartford Strategic Income Fund returned 8.54%, before sales charge, for the six-month period ended April 30, 2009, versus the return of 7.74% for the Barclays Capital U.S. Aggregate Bond Index, and the 7.69% return of the Lipper Multi-Sector Income Funds category, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

Risk premiums (the additional compensation paid to investors to tolerate the increased level of risk in a given asset class relative to Treasuries) saw a slight recovery in the beginning of 2009 as the government announced several initiatives to support financial and consumer credit markets. Programs included the expansion of Term Asset-Backed Loan Facility (TALF) and the introduction of the Public-Private Investment Program (PPIP) which was designed to remove toxic assets from banks’ balance sheets. Highly rated securities in asset backed securities (ABS) and commercial mortgage backed securities (CMBS) sectors benefited from this government action, while investment grade financial debt continued to underperform as the fate of the banking sector remained uncertain.

The Federal Open Market Committee (the Fed) continued to target the overnight Fed funds rate at just above 0%. This accommodative policy kept short maturity Treasury yields low.

2

Longer maturity Treasury yields declined by year end then rose over the January to April time frame. The funding requirements of the government have grown with the introduction of additional stimulus programs and excess supply concerns pushed Treasury yields higher. The concern over excess supply was partially offset with the announcement that the Treasury would purchase these securities outright, but the supply/demand imbalance uncertainty remained. Moreover, concerns of current stimulus leading to future inflation left many market participants backing away from longer duration (i.e. sensitivity to changes in interest rates) securities. As a result, the curve steepened (i.e. short and long term interest rates moved farther apart).

The primary driver of the Fund’s outperformance relative (i.e. performance of the Fund as measured against the benchmark) to the benchmark was strong performance in out-of-benchmark spread (the incremental yield an investor receives for taking on greater credit risk) sectors. Despite worsening economic data and increasing default rates, the high yield market rallied significantly in the beginning of 2009. An out-of-benchmark allocation to the high yield sector was the top contributor of performance for the period.

The continued economic downturn also proved challenging for emerging markets debt, however spreads in this sector eventually retreated from their peak, which proved beneficial to the Fund’s performance.

The Fund was also slightly overweight (i.e. the Fund’s sector position was greater than the benchmark position) in investment grade corporate bonds, with a sector bias towards Industrials. This proved beneficial to Fund performance as these bonds rallied later in the period.

Problems in the housing sector continued to prove troublesome to the mortgage market. This was despite the Fed’s efforts to keep mortgage rates low and relieve pressure in the sector. The Fund holds an allocation to mortgage backed securities (MBS) and the challenges in this market created a drag on Fund performance.

What is the outlook?

Risk premiums across most asset classes reversed course and began to contract as conditions improved and volatility declined. An onslaught of government policy, from fiscal stimulus to quantitative easing, was the primary catalyst and buyers of historically inexpensive corporate debt emerged as more market participants recognized relative value versus equities. Although risk premiums have come off their historical peak, spreads remain significantly wider than in prior recessions.

Government actions have significantly increased the attractiveness of select asset backed securities (ABS) and commercial mortgage backed securities (CMBS). Although these asset classes still face a precarious fundamental environment, the pricing at the top of the capital structure in many of these investments is indicative of an environment far worse than what we expect. Moreover, recognizing the importance of these markets, the government has initiated policy to facilitate a broader buyer base and investor interest. The Term Asset Backed Loan Facility and the Public-Private Investment Plan will likely continue to tighten spreads (i.e. short and long term interest rates moving closer together) as these plans are further implemented.

The U.S. Treasury yield curve is expected to remain in a limited range in the near term. We expect the economy to remain weak through the rest of the year.

* Effective June 1, 2009, Peter Perrotti and Edward Vaimberg will no longer be involved in the portfolio management of the Fund.

Distribution by Credit Quality

as of April 30, 2009

	Percentage of
	Long Term
Rating	Holdings
AAA		40.7	%
AA		3.7
A		11.8
BBB		14.6
BB		14.4
B		12.0
CCC		1.7
D		0.4
Not Rated		0.7
Total		100.0	%

Diversification by Industry

as of April 30, 2009

	Percentage of
Industry	Net Assets
Basic Materials		4.0	%
Capital Goods		1.4
Consumer Cyclical		3.7
Consumer Staples		2.2
Energy		5.8
Finance		14.3
Foreign Governments		6.3
Health Care		5.2
Services		3.7
Technology		9.2
Transportation		0.7
U.S. Government Agencies		14.4
U.S. Government Securities		16.2
Utilities		4.3
Short-Term Investments		5.9
Other Assets and Liabilities		2.7
Total		100.0	%

3

The Hartford Strategic Income Fund

Schedule of Investments

April 30, 2009 (Unaudited)

(000’s Omitted)

Shares or Principal Amount			Market Value ╪
ASSET & COMMERCIAL MORTGAGE BACKED SECURITIES - 4.6%
		Finance - 4.6%
		Bank of America Credit Card Trust
$	500	5.17%, 06/15/2019	$	467
		Bayview Commercial Asset Trust
	1,228	7.50%, 09/25/2037 ⌂►		109
		Bayview Financial Acquisition Trust
	250	8.05%, 08/28/2047 ⌂		67
		Bear Stearns Commercial Mortgage Securities, Inc.
	940	5.12%, 02/11/2041 Δ		809
	570	5.41%, 12/11/2040		506
	700	5.72%, 09/11/2038 Δ		603
		CBA Commercial Small Balance Commercial Mortgage
	4,575	7.25%, 07/25/2039 ⌂►		389
		Citigroup Commercial Mortgage Trust
	480	5.43%, 10/15/2049		394
		Credit-Based Asset Servicing and Securitization
	86	0.71%, 05/25/2036 ⌂Δ		37
		CS First Boston Mortgage Securities Corp.
	270	5.23%, 12/15/2040		231
		GE Capital Commercial Mortgage Corp.
	580	5.05%, 07/10/2045 Δ		546
		GMAC Mortgage Corp. Loan Trust
	555	6.05%, 12/25/2037 ⌂Δ		178
		Greenwich Capital Commercial Funding Corp.
	299	1.69%, 11/05/2021 ⌂•Δ		2
	323	1.89%, 11/05/2021 ⌂•Δ		2
	470	4.80%, 08/10/2042		392
	3,500	5.74%, 12/10/2049 Δ		2,751
	360	6.11%, 07/10/2038 Δ		301
		Honda Automotive Receivables Owner Trust
	450	5.28%, 01/23/2012		459
		IMPAC Commercial Mortgage Backed Trust
	282	1.94%, 02/25/2036 ⌂Δ		68
		JP Morgan Chase Commercial Mortgage Securities Corp.
	510	5.34%, 05/15/2047		394
	280	5.40%, 05/15/2045		217
		Lehman Brothers Small Balance Commercial
	621	5.91%, 06/25/2037 ⌂†		466
		MBNA Credit Card Master Note Trust
	300	6.80%, 07/15/2014 ⌂		229
		Morgan Stanley Capital I
	960	4.70%, 07/15/2056		841
	930	5.01%, 01/14/2042		853
		Renaissance Home Equity Loan Trust, Class M5
	100	7.00%, 09/25/2037 ⌂		6
		Renaissance Home Equity Loan Trust, Class M8
	125	7.00%, 09/25/2037 ⌂		4
		USAA Automotive Owner Trust
	312	4.63%, 05/15/2012		315
		Wachovia Bank Commercial Mortgage Trust
	585	5.31%, 11/15/2048		460
		Wells Fargo Alternative Loan Trust
	597	6.25%, 11/25/2037 ⌂		322
				12,418
		Total asset & commercial mortgage backed securities (cost $14,043)	$	12,418
CORPORATE BONDS: INVESTMENT GRADE - 29.1%
		Basic Materials - 2.3%
		Alcan, Inc.
$	255	6.13%, 12/15/2033	$	174
		Anglo American Capital plc
	1,324	9.38%, 04/08/2014 - 04/08/2019 ■		1,367
		Barrick Gold Corp.
	200	6.95%, 04/01/2019		212
		Consol Energy, Inc.
	430	7.88%, 03/01/2012		432
		Kimberly-Clark Corp.
	1,620	7.50%, 11/01/2018		1,894
		Rio Tinto Finance USA Ltd.
	1,175	5.88%, 07/15/2013		1,108
	320	9.00%, 05/01/2019		329
		Vale Overseas Ltd.
	750	6.88%, 11/21/2036		611
				6,127
		Capital Goods - 0.8%
		Hutchison Whampoa International Ltd.
	400	7.63%, 04/09/2019 ■		393
		Tyco International Ltd.
	837	8.50%, 01/15/2019		896
		United Technologies Corp.
	647	6.13%, 02/01/2019		697
		Xerox Corp.
	170	6.35%, 05/15/2018		138
				2,124
		Consumer Cyclical - 0.6%
		CRH America, Inc.
	1,340	8.13%, 07/15/2018		1,117
		Safeway, Inc.
	470	6.25%, 03/15/2014		499
				1,616
		Consumer Staples - 1.3%
		Altria Group, Inc.
	931	10.20%, 02/06/2039		1,025
		Anheuser-Busch InBev
	1,005	7.75%, 01/15/2019 ■		1,052
	300	8.20%, 01/15/2039 ■		301
		General Mills, Inc.
	454	5.65%, 02/15/2019		463
		Unilever Capital Corp.
	500	4.80%, 02/15/2019		505
				3,346
		Energy - 3.0%
		Chevron Corp.
	600	4.95%, 03/03/2019		613
		ConocoPhillips
	946	6.50%, 02/01/2039		937

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

4

Shares or Principal Amount			Market Value ╪
CORPORATE BONDS: INVESTMENT GRADE - - 29.1% - (continued)
		Energy - 3.0% - (continued)
		Consumers Energy Co.
$	820	6.70%, 09/15/2019	$	865
		Diamond Offshore Drilling, Inc.
	191	5.88%, 05/01/2019		191
		EnCana Corp.
	136	6.50%, 05/15/2019		136
		Gazprom International S.A.
	421	7.20%, 02/01/2020 §		379
		Marathon Oil Corp.
	307	6.50%, 02/15/2014		319
		Nabors Industries, Inc.
	634	9.25%, 01/15/2019 ■		598
		Sempra Energy
	523	9.80%, 02/15/2019		597
		Shell International Finance B.V.
	520	6.38%, 12/15/2038		553
		Statoilhydro ASA
	1,208	5.25%, 04/15/2019		1,236
		TNK-BP Finance S.A.
	300	7.50%, 07/18/2016 ■		221
		Valero Energy Corp.
	1,320	6.63%, 06/15/2037		1,045
	441	9.38%, 03/15/2019		492
				8,182
		Finance - 7.9%
		American Real Estate Partners L.P.
	445	7.13%, 02/15/2013		374
		Bank of America Corp.
	2,200	2.10%, 04/30/2012		2,214
	565	5.65%, 05/01/2018		460
		BP Capital Markets plc
	532	5.25%, 11/07/2013		574
		Citigroup, Inc.
	595	2.13%, 04/30/2012		598
	647	8.30%, 12/21/2057 Δ		394
		Corpoacion Andina De Fomento
	204	5.20%, 05/21/2013		193
	241	5.75%, 01/12/2017		201
		COX Communications, Inc.
	371	6.25%, 06/01/2018 ■		342
	325	8.38%, 03/01/2039 ■		315
		ERAC USA Finance Co.
	1,176	5.60%, 05/01/2015 ■		907
		Goldman Sachs Capital Trust II
	2,077	5.79%, 06/01/2012 ♠Δ		1,027
		Goldman Sachs Group, Inc.
	476	6.00%, 05/01/2014		476
		International Lease Finance Corp.
	1,500	6.63%, 11/15/2013		937
		Jackson National Life Global Funding
	975	5.38%, 05/08/2013 ■		863
		JP Morgan Chase & Co.
	1,050	5.13%, 09/15/2014		972
	775	6.30%, 04/23/2019		763
	605	7.90%, 04/30/2018 ♠		460
		JP Morgan Chase Capital II
	230	1.67%, 02/01/2027 Δ		94
		MBNA America Bank N.A.
	995	7.13%, 11/15/2012 ■		907
		National City Bank of Ohio
	600	4.50%, 03/15/2010		602
		National City Corp.
	884	12.00%, 12/10/2012 ♠		765
		Pricoa Global Funding I
	500	1.14%, 01/30/2012 ■Δ		375
		Progressive Corp.
	241	6.70%, 06/15/2037 Δ		119
		Prudential Financial, Inc.
	424	8.88%, 06/15/2038 Δ		229
		State Street Capital Trust III
	1,235	8.25%, 03/15/2042 Δ		840
		Transcapitalinvest Ltd.
	1,200	5.67%, 03/05/2014 §		951
		UBS Preferred Funding Trust I
	1,250	8.62%, 10/01/2010 ♠		626
		Unicredito Italiano Capital Trust
	2,000	9.20%, 10/05/2010 ■♠		940
		UnitedHealth Group, Inc.
	1,500	6.88%, 02/15/2038		1,304
		USB Capital IX
	1,830	6.19%, 04/15/2011 ♠Δ		1,016
		Wells Fargo Bank NA
	600	1.45%, 05/16/2016 Δ		408
		Wells Fargo Capital XIII
	303	7.70%, 03/26/2013 ♠Δ		194
				21,440
		Foreign Governments - 3.6%
		Brazil (Republic of)
	2,150	8.00%, 01/15/2018		2,322
	1,130	8.25%, 01/20/2034		1,285
		Colombia (Republic of)
	600	7.38%, 03/18/2019		631
		El Salvador (Republic of)
	991	7.65%, 06/15/2035 §		793
		Hungary (Republic of)
	150	4.75%, 02/03/2015		130
		Malaysian Government
	1,360	7.50%, 07/15/2011		1,483
		Peru (Republic of)
	800	6.55%, 03/14/2037		774
		Russian Federation Government
	732	7.50%, 03/31/2030 §		712
		South Africa (Republic of)
	300	5.88%, 05/30/2022		274
		United Mexican States
	1,256	5.95%, 03/19/2019		1,250
				9,654
		Health Care - 2.6%
		Abbott Laboratories
	557	5.13%, 04/01/2019		570
		Amgen, Inc.
	252	6.40%, 02/01/2039		254
		Covidien International
	1,500	6.55%, 10/15/2037		1,480
		CVS Caremark Corp.
	1,125	6.30%, 06/01/2037 Δ		731
	237	6.60%, 03/15/2019		251
		Eli Lilly & Co.
	502	4.20%, 03/06/2014		521
	236	5.95%, 11/15/2037		230

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

5

The Hartford Strategic Income Fund
Schedule of Investments — (continued) 
April 30, 2009 (Unaudited)
(000’s Omitted)

Shares or Principal Amount			Market Value ╪
CORPORATE BONDS: INVESTMENT GRADE - - 29.1% - (continued)
		Health Care - 2.6% - (continued)
		Pfizer, Inc.
$	640	5.35%, 03/15/2015	$	688
	590	6.20%, 03/15/2019		634
	615	7.20%, 03/15/2039		676
		Roche Holdings, Inc.
	575	5.00%, 03/01/2014 ■		603
	169	6.00%, 03/01/2019 ■		176
	279	7.00%, 03/01/2039 ■		303
				7,117
		Services - 0.5%
		Allied Waste North America, Inc.
	500	7.13%, 05/15/2016		490
		Comcast Corp.
	620	6.30%, 11/15/2017		631
		President & Fellows of Harvard
	336	6.00%, 01/15/2019 ■		360
				1,481
		Technology - 4.5%
		AT&T, Inc.
	1,150	6.55%, 02/15/2039		1,106
		Cisco Systems, Inc.
	1,085	5.90%, 02/15/2039		1,027
		Embarq Corp.
	2,700	8.00%, 06/01/2036 ‡		2,241
		Hanaro Telecom, Inc.
	460	7.00%, 02/01/2012 ■		444
		Nokia Corp.
	242	5.38%, 05/15/2019		235
	222	6.63%, 05/15/2039		221
		Qwest Corp.
	500	7.25%, 10/15/2035		356
		Rogers Cable, Inc.
	390	8.75%, 05/01/2032		418
		Rogers Communications, Inc.
	733	7.50%, 03/15/2015		775
		Telecom Italia Capital
	1,104	7.72%, 06/04/2038		964
		Time Warner Cable, Inc.
	900	8.25%, 04/01/2019		995
		Verizon Wireless
	1,524	5.55%, 02/01/2014 ■		1,599
	1,312	8.50%, 11/15/2018 ■		1,571
				11,952
		Transportation - 0.2%
		Canadian Pacific Railway Co.
	675	5.95%, 05/15/2037		453
		Utilities - 1.8%
		Alabama Power Co.
	384	6.00%, 03/01/2039		381
		Duke Energy Corp.
	355	6.35%, 08/15/2038		377
	222	7.00%, 11/15/2018		254
		Electricite de France
	605	6.95%, 01/26/2039 ■		638
		Pacific Gas & Electric Energy Recovery Funding LLC
	629	8.25%, 10/15/2018		751
		Public Service Co. of Colorado
	860	6.50%, 08/01/2038		919
		Southern California Edison Co.
	665	5.75%, 03/15/2014		724
		TransCanada Pipelines Ltd.
	814	7.25%, 08/15/2038		849
				4,893
		Total corporate bonds: investment grade (cost $81,760)	$	78,385
CORPORATE BONDS: NON-INVESTMENT GRADE - 20.5%
		Basic Materials - 0.7%
		Cenveo, Inc.
$	300	10.50%, 08/15/2016 ■		201
		Georgia-Pacific LLC
	540	8.25%, 05/01/2016 ■		540
		Goodyear Tire & Rubber Co.
	750	6.32%, 12/01/2009 Δ		740
		Graham Packaging Co., Inc.
	500	8.50%, 10/15/2012		430
				1,911
		Capital Goods - 0.1%
		L-3 Communications Corp.
	410	5.88%, 01/15/2015		375
		Consumer Cyclical - 2.7%
		Aramark Corp.
	940	5.00%, 06/01/2012		834
		D.R. Horton, Inc.
	945	4.88%, 01/15/2010		931
		Desarrolladora Homes S.A.
	521	7.50%, 09/28/2015		393
		Dollarama Group L.P.
	700	8.88%, 08/15/2012		665
		ESCO Corp.
	640	8.63%, 12/15/2013 ■		519
		KB Home & Broad Home Corp.
	450	6.38%, 08/15/2011		430
		Parkson Retail Group Ltd.
	1,050	7.88%, 11/14/2011		992
		Pulte Homes, Inc.
	850	7.88%, 08/01/2011		848
		SGS International, Inc.
	450	12.00%, 12/15/2013		239
		Supervalu, Inc.
	900	7.50%, 11/15/2014		873
	170	8.00%, 05/01/2016		165
		United Components, Inc.
	425	9.38%, 06/15/2013		234
				7,123
		Consumer Staples - 0.4%
		Appleton Papers, Inc.
	400	8.13%, 06/15/2011		240
		Constellation Brands, Inc.
	905	8.38%, 12/15/2014		914
				1,154

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

6

Shares or Principal Amount			Market Value ╪
CORPORATE BONDS: NON-INVESTMENT GRADE - 20.5% - (continued)
		Energy - 1.8%
		Chesapeake Energy Corp.
$	375	7.00%, 08/15/2014	$	346
	775	7.63%, 07/15/2013		740
		Ferrellgas Partners L.P.
	870	6.75%, 05/01/2014 ■		785
	450	8.75%, 06/15/2012		412
		Inergy L.P.
	1,000	8.25%, 03/01/2016		992
		Petrohawk Energy Corp.
	725	9.13%, 07/15/2013		711
		Plains Exploration & Production Co.
	450	7.63%, 06/01/2018		390
		Sonat, Inc.
	500	7.63%, 07/15/2011		495
				4,871
		Finance - 1.2%
		Drummond Co., Inc.
	1,410	7.38%, 02/15/2016 ■		1,022
		Ford Motor Credit Co.
	750	5.70%, 01/15/2010		705
		LPL Holdings, Inc.
	1,070	10.75%, 12/15/2015 ■		931
		Yankee Acquisition Corp.
	725	8.50%, 02/15/2015		511
				3,169
		Foreign Governments - 2.7%
		Argentina (Republic of)
	1,855	7.00%, 10/03/2015		517
		Indonesia (Republic of)
	380	6.88%, 01/17/2018 §		342
	1,400	7.25%, 04/20/2015 §		1,326
		Islamic Republic of Pakistan
	400	6.88%, 06/01/2017 §		212
		Panama (Republic of)
	800	7.13%, 01/29/2026		800
		Philippines (Republic of)
	1,100	8.38%, 06/17/2019		1,216
		Turkey (Republic of)
	1,180	7.25%, 03/15/2015		1,204
		Venezuela (Republic of)
	2,810	5.75%, 02/26/2016		1,602
				7,219
		Health Care - 2.0%
		Biomet, Inc.
	700	10.38%, 10/15/2017		674
		HCA, Inc.
	500	7.88%, 02/01/2011		490
	305	8.50%, 04/15/2019 ■		307
	750	9.25%, 11/15/2016		742
		IASIS Healthcare Capital Corp.
	700	8.75%, 06/15/2014		688
		Invacare Corp.
	100	9.75%, 02/15/2015		101
		Multiplan Corp.
	375	10.38%, 04/15/2016 ■		330
		Psychiatric Solutions, Inc.
	850	7.75%, 07/15/2015		778
		Skilled Healthcare Group, Inc.
	600	11.00%, 01/15/2014		622
		Warner Chilcott Corp.
	550	8.75%, 02/01/2015		540
				5,272
		Services - 2.0%
		Affinion Group, Inc.
	1,500	11.50%, 10/15/2015		1,080
		AMC Entertainment, Inc.
	500	11.00%, 02/01/2016		490
		DirecTV Holdings LLC
	475	8.38%, 03/15/2013		482
		Echostar DBS Corp.
	550	7.75%, 05/31/2015		523
		FireKeepers Development Authority
	500	13.88%, 05/01/2015 ■		360
		Harland Clarke Holdings
	455	9.50%, 05/15/2015		273
		Iron Mountain, Inc.
	685	8.00%, 06/15/2020		661
		Pinnacle Entertainment, Inc.
	380	8.75%, 10/01/2013		366
		TL Acquisitions, Inc.
	485	10.50%, 01/15/2015 ■		330
		Videotron Ltee
	625	6.88%, 01/15/2014		607
		Virgin Media, Inc.
	390	6.50%, 11/15/2016 ۞ ■		284
				5,456
		Technology - 4.4%
		Canwest MediaWorks L.P.
	535	9.25%, 08/01/2015 ■		50
		Charter Communications Operating LLC
	925	10.88%, 09/15/2014 ■ψ		920
		Cricket Communications, Inc.
	370	9.38%, 11/01/2014		366
		CSC Holdings, Inc.
	1,250	7.63%, 04/01/2011		1,250
		Frontier Communications Corp.
	270	8.25%, 05/01/2014		265
		Intelsat Corp.
	400	9.25%, 06/15/2016 ■		386
		Intelsat Jackson Holdings Ltd.
	370	11.50%, 06/15/2016 ■		364
		Level 3 Financing, Inc.
	1,550	12.25%, 03/15/2013		1,399
		Mediacom LLC
	1,550	7.88%, 02/15/2011		1,535
		MetroPCS Wireless, Inc.
	1,300	9.25%, 11/01/2014		1,302
		Qwest Communications International, Inc.
	1,000	7.50%, 02/15/2014		927
		Seagate Technology International
	410	10.00%, 05/01/2014 ■		404
		Sprint Capital Corp.
	1,400	7.63%, 01/30/2011		1,349
	350	8.75%, 03/15/2032		266
		Windstream Corp.
	1,250	8.63%, 08/01/2016		1,244
				12,027

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

7

The Hartford Strategic Income Fund
Schedule of Investments — (continued) 
April 30, 2009 (Unaudited)
(000’s Omitted)

Shares or Principal Amount			Market Value ╪
CORPORATE BONDS: NON-INVESTMENT GRADE - 20.5% - (continued)
		Transportation - 0.5%
		Continental Airlines, Inc.
$	414	7.03%, 06/15/2011	$	340
		Grupo Senda Autotransporte
	1,195	10.50%, 10/03/2015 ⌂		681
		United Air Lines, Inc.
	330	7.19%, 04/01/2011		317
				1,338
		Utilities - 2.0%
		AES Corp.
	725	8.00%, 10/15/2017		663
		AES El Salvador Trust
	700	6.75%, 02/01/2016 ⌂		338
		Copano Energy LLC
	600	8.13%, 03/01/2016		546
		Kinder Morgan, Inc.
	550	5.15%, 03/01/2015		473
		Mirant Mid-Atlantic LLC
	626	9.13%, 06/30/2017		582
		NRG Energy, Inc.
	1,275	7.25%, 02/01/2014		1,231
		Reliant Energy, Inc.
	1,300	6.75%, 12/15/2014		1,255
		Texas Competitive Electric Co.
	315	10.25%, 11/01/2015		179
				5,267
		Total corporate bonds: non-investment grade (cost $57,758)	$	55,182
SENIOR FLOATING RATE INTERESTS: INVESTMENT GRADE ♦ - 0.2%
		Health Care - 0.2%
		Pfizer, Inc.
$	565	0.38%, 12/31/2009 ±	$	559
		Total senior floating rate interests: investment grade (cost $565)	$	559
SENIOR FLOATING RATE INTERESTS: NON-INVESTMENT GRADE ♦ - 6.4%
		Basic Materials - 1.0%
		Arizona Chemical Co.
$	250	5.93%, 02/27/2014 ± ⌂	$	134
		Calumet Lubricants Co., L.P.
	115	1.28%, 12/29/2014 ±		74
	860	5.24%, 01/03/2015 ±		550
		Coffeyville Resources
	235	3.15%, 12/21/2010 ±		194
	755	8.75%, 12/21/2013 ±		624
		John Maneely Co.
	445	4.11%, 12/08/2013 ±		318
		Newpage Corp.
	977	4.79%, 12/21/2014 ±		755
				2,649
		Capital Goods - 0.5%
		MacAndrews Amg Holdings LLC
	388	6.18%, 04/17/2012 ± ⌂		263
		WESCO Aircraft Hardware Corp.
	500	6.18%, 03/28/2014 ±		348
		Yankee Candle Co.
	947	3.21%, 02/06/2014 ±		776
				1,387
		Consumer Cyclical - 0.4%
		Brand Energy & Infrastructure Services
	493	4.49%, 02/07/2014 ±		389
		Lear Corp.
	994	3.21%, 04/25/2012 ±		415
				804
		Consumer Staples - 0.5%
		Dole Food Co., Inc.
	98	1.14%, 04/12/2013 ±		93
	173	7.96%, 04/12/2013 ±		163
	643	7.97%, 04/12/2013 ±		609
		WM Wrigley Jr. Co.
	597	6.50%, 10/06/2014 ±		597
				1,462
		Energy - 1.0%
		Lyondell Chemical Co.
	334	5.94%, 12/15/2009 ±ψ		262
	1,741	9.17%, 12/15/2009 *±ψ		1,768
		Lyondell Chemical Co., Dutch RC
	15	5.75%, 12/20/2013 ±ψ		5
		Lyondell Chemical Co., Dutch Tranche A
	35	5.75%, 12/20/2013 ±ψ		12
		Lyondell Chemical Co., German B-1
	43	6.00%, 12/20/2014 ±ψ		14
		Lyondell Chemical Co., German B-2
	43	6.00%, 12/20/2014 ±ψ		14
		Lyondell Chemical Co., German B-3
	43	6.00%, 12/20/2014 ±ψ		14
		Lyondell Chemical Co., Primary RC
	56	5.75%, 12/20/2013 ±ψ		19
		Lyondell Chemical Co., Term Loan A
	107	5.75%, 12/20/2013 ±ψ		36
		Lyondell Chemical Co., U.S. B-1
	187	7.00%, 12/20/2014 ±ψ		62
		Lyondell Chemical Co., U.S. B-2
	187	7.00%, 12/20/2014 ±ψ		62
		Lyondell Chemical Co., U.S. B-3
	187	7.00%, 12/20/2014 ±ψ		62
		Turbo Beta Ltd.
	1,010	14.50%, 03/12/2018 ±⌂†		444
				2,774
		Finance - 0.6%
		BNY Convergex Group LLC & EZE Castle Software
	1,500	3.43%, 08/30/2013 ±		1,376
		Realogy Corp.
	104	0.35%, 10/05/2013 ±		66
	387	4.18%, 10/05/2014 ±		247
				1,689
		Health Care - 0.4%
		Generics International, Inc.
	988	4.72%, 11/19/2014 ±⌂		740

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

8

Shares or Principal Amount					Market Value ╪
SENIOR FLOATING RATE INTERESTS: NON-INVESTMENT GRADE ♦ - 6.4% — (continued)
		Health Care - 0.4% — (continued)
		Inverness Medical Innovation, Inc.
$	438	4.74%, 06/26/2015 ±			$	381
						1,121
		Services - 1.2%
		Centaur LLC
	277	9.25%, 10/30/2012 ±				166
		Emdeon Business Services LLC
	500	5.89%, 05/16/2014 ±				410
		Golden Nugget, Inc.
	250	3.69%, 12/31/2014 ±⌂				40
		Greenwood Racing, Inc.
	1,455	2.68%, 11/14/2011 ±				1,237
		New World Gaming Partners Ltd.
	500	6.71%, 03/31/2015 ±⌂				75
		Philosophy, Inc.
	239	2.43%, 03/17/2014 ±				96
		Telesat Canada
	455	3.55%, 09/01/2014 ±				420
	39	4.22%, 09/01/2014 ±				36
		WideOpenWest Finance LLC
	275	7.49%, 06/29/2015 ±				104
		Yonkers Racing Corp.
	723	10.50%, 08/12/2011 ±				703
						3,287
		Technology - 0.3%
		Infor Global Solutions, Delayed Draw Term Loan
	257	4.18%, 07/28/2012 ±				190
		Infor Global Solutions, U.S. Term Loan
	493	4.18%, 07/28/2012 ±				365
		One Communications Corp.
	459	4.53%, 06/30/2012 ±				285
						840
		Utilities - 0.5%
		Astoria Generating Co. Acquisitions LLC
	500	4.20%, 08/23/2013 ±				408
		Texas Competitive Electric Holdings Co. LLC
	493	3.97%, 10/12/2014 ±				333
		Texas Competitive Electric Holdings Co., LLC
	493	3.97%, 10/10/2014 ±				335
		TPF Generation Holdings LLC
	375	4.68%, 12/21/2014 ±				305
						1,381
		Total senior floating rate interests: non-investment grade (cost $22,705)			$	17,394
U.S. GOVERNMENT AGENCIES - 14.4%
		Federal Home Loan Mortgage Corporation - 4.5%
$	1,300	4.13%, 09/27/2013			$	1,397
	3,000	4.88%, 11/15/2013				3,322
	5,554	6.50%, 10/01/2037 - 01/01/2038				5,890
	1,398	7.00%, 10/01/2037				1,491
						12,100
		Federal National Mortgage Association - 7.7%
	14,456	6.50%, 04/01/2037 - 02/01/2038				15,337
	5,201	7.00%, 11/01/2037 - 05/01/2038				5,570
						20,907
		Other Government Agencies - 2.2%
		Small Business Administration Participation Certificates:
	2,829	5.16%, 02/01/2028				2,951
	2,810	5.31%, 05/01/2027				2,969
						5,920
		Total U.S. government agencies (cost $37,601)			$	38,927
U.S. GOVERNMENT SECURITIES - 16.2%
		U.S. Treasury Bonds - 0.9%
$	2,594	3.50%, 02/15/2039			$	2,350
		U.S. Treasury Notes - 15.3%
	8,173	0.88%, 03/31/2011				8,173
	9,670	1.50%, 10/31/2010				9,780
	14,328	1.75%, 03/31/2014				14,167
	241	1.88%, 04/30/2014				240
	9,266	2.75%, 02/15/2019				8,975
						43,685
		Total U.S. government securities (cost $44,260)			$	43,685
		Total long-term investments (cost $258,692)			$	246,550
SHORT-TERM INVESTMENTS - 5.9%
		Investment Pools and Funds - 3.4%
	4,530	JP Morgan U.S. Government Money Market Fund	.		$	4,530
	—	State Street Bank U.S. Government Money Market Fund				—
	4,501	Wells Fargo Advantage Government Money Market Fund				4,501
						9,031
		Repurchase Agreements - 2.2%
		BNP Paribas Securities Corp. Repurchase Agreement (maturing on 05/01/2009 in the amount of $4,659, collateralized by U.S. Treasury Bond 5.38%, 2031, value of $4,747)
$	4,659	0.15%, 04/30/2009				4,659
		UBS Securities, Inc. Repurchase Agreement (maturing on 05/01/2009 in the amount of $1,303, collateralized by U.S. Treasury Bond 7.50%, 2024, value of $1,333)
	1,303	0.13%, 04/30/2009				1,303
						5,962
		U.S. Treasury Bills - 0.3%
	800	0.20%, 05/21/2009 □○				800
		Total short-term investments (cost $15,793)			$	15,793
		Total investments (cost $274,485) ▲	97.3	%	$	262,343
		Other assets and liabilities	2.7	%		7,224
		Total net assets	100.0	%	$	269,567

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

9

The Hartford Strategic Income Fund
Schedule of Investments — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

Note:	Percentage of investments as shown is the ratio of the total market value to total net assets. Market value of investments in foreign securities represents 13.20% of total net assets at April 30, 2009.
▲	At April 30, 2009, the cost of securities for federal income tax purposes was $274,524 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	6,586
Unrealized Depreciation		(18,767	)
Net Unrealized Depreciation	$	(12,181	)

†	The aggregate value of securities valued in good faith at fair value as determined under policies and procedures established by and under the supervision of the Fund’s Board of Directors at April 30, 2009, was $910, which represents 0.34% of total net assets. This calculation excludes securities that are principally traded in certain foreign markets and whose prices were adjusted pursuant to a third party pricing service methodology approved by the Board of Directors.
•	Currently non-income producing. For long-term debt securities, items identified are in default as to payment of interest and/or principal.
‡	This security, or a portion of this security, has been segregated to cover funding requirements on investment transactions settling in the future.
Δ	Variable rate securities; the rate reported is the coupon rate in effect at April 30, 2009.
■	Securities issued within terms of a private placement memorandum, exempt from registration under Rule 144A under the Securities Act of 1933, as amended, and may be sold only to qualified institutional buyers. Pursuant to guidelines adopted by the Board of Directors, these issues are determined to be liquid. The aggregate value of these securities at April 30, 2009, was $22,008, which represents 8.16% of total net assets.
§	Securities contain some restrictions as to public resale. These securities comply with Regulation S, rules governing offers and sales made outside the United States without registration under the Securities Act of 1933, and are determined to be liquid. At April 30, 2009, the market value of these securities amounted to $4,715 or 1.75% of total net assets.
♠	Perpetual maturity security. Maturity date shown is the first call date.
۞	Convertible security.
►	The interest rates disclosed for interest only strips represent effective yields based upon estimated future cash flows at April 30, 2009.
○	The interest rate disclosed for these securities represents the effective yield on the date of the acquisition.
*	The cost of securities purchased on a when-issued or delayed delivery basis at April 30, 2009 was $111.
±	The interest rate disclosed for these securities represents the average coupon as of April 30, 2009.
ψ	The company is in bankruptcy. The investment held by the fund is current with respect to interest payments.
□	Security pledged as initial margin deposit for open futures contracts at April 30, 2009.

Futures Contracts Outstanding at April 30, 2009

					Unrealized
	Number of			Expiration	Appreciation/
Description	Contracts*		Position	Month	(Depreciation)
2 Year U.S. Treasury Note		33	Long	Jun 2009	$	21
5 Year U.S. Treasury Note		121	Long	Jun 2009	$	(93	)
10 Year U.S. Treasury Note		9	Long	Jun 2009	$	(24	)
U.S. Long Bond		47	Long	Jun 2009	$	(309	)
					$	(405	)

*	The number of contracts does not omit 000’s.
⌂	The following securities are considered illiquid. Illiquid securities are often purchased in private placement transactions, are often not registered under the Securities Act of 1933 and may have contractual restrictions on resale. A security may also be considered illiquid if the security lacks a readily available market or if its valuation has not changed for a certain period of time.

Period		Shares/
Acquired		Par		Security	Cost Basis
	04/2008	$	700	AES El Salvador Trust, 6.75%, 02/01/2016 - Reg S	$	653
	09/2007	$	250	Arizona Chemical Co., 5.93%, 02/27/2014		232
	08/2007	$	1,228	Bayview Commercial Asset Trust, 7.50%, 09/25/2037 - 144A		171
	07/2007	$	250	Bayview Financial Acquisition Trust, 8.05%, 08/28/2047		250
	05/2007	$	4,575	CBA Commercial Small Balance Commercial Mortgage, 7.25%, 07/25/2039 - 144A		376
	07/2007	$	86	Credit-Based Asset Servicing and Securitization, 0.71%, 05/25/2036 - 144A		84
	11/2007	$	988	Generics International, Inc., 4.72%, 11/19/2014		978
	09/2007	$	555	GMAC Mortgage Corp. Loan Trust, 6.05%, 12/25/2037		531
	06/2007	$	250	Golden Nugget, Inc., 3.69%, 12/31/2014		250
	05/2007	$	299	Greenwich Capital Commercial Funding Corp., 1.69%, 11/05/2021 - 144A		290
	05/2007	$	323	Greenwich Capital Commercial Funding Corp., 1.89%, 11/05/2021 - 144A		313
	10/2007 - 11/2008	$	1,195	Grupo Senda Autotransporte, 10.50%, 10/03/2015 - 144A		1,092
	05/2007	$	282	IMPAC Commercial Mortgage Backed Trust, 1.94%, 02/25/2036		270

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

10

Period		Shares/
Acquired		Par		Security	Cost Basis
	12/2007	$	621	Lehman Brothers Small Balance Commercial, 5.91%, 06/25/2037 - 144A	$	621
	09/2007	$	388	MacAndrews Amg Holdings LLC, 6.18%, 04/17/2012		379
	08/2007	$	300	MBNA Credit Card Master Note Trust, 6.80%, 07/15/2014		303
	07/2007	$	500	New World Gaming Partners Ltd., 6.71%, 03/31/2015		500
	08/2007	$	100	Renaissance Home Equity Loan Trust, Class M5, 7.00%, 09/25/2037		76
	08/2007	$	125	Renaissance Home Equity Loan Trust, Class M8, 7.00%, 09/25/2037		70
	06/2008-11/2008	$	1,010	Turbo Beta Ltd., 14.50%, 03/12/2018		1,010
	03/2008	$	597	Wells Fargo Alternative Loan Trust, 6.25%, 11/25/2037		482

The aggregate value of these securities at April 30, 2009 was $4,594 which represents 1.70% of total net assets.

♦

Senior floating rate interests in which the Fund invests generally pay interest rates which are periodically adjusted by reference to a base short-term, floating lending rate plus a premium. These base lending rates are generally (i) the lending rate offered by one or more major European banks, such as the London Inter-Bank Offered Rate (LIBOR), (ii) the prime rate offered by one or more major United States Banks, or (iii) the bank’s certificate of deposit rate. Senior floating rate interests often require prepayments from excess cash flows or permit the borrower to repay at its election. The rate at which the borrower repays cannot be predicted with accuracy. As a result, the actual remaining maturity may be substantially less than the stated maturities shown. The interest rate is the rate in effect at April 30, 2009.

╪

See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of securities.

FAS 157 Disclosure of Investment Valuation Hierarchy Levels

Assets:
Investment in securities — Level 1	$	20,596
Investment in securities — Level 2		236,433
Investment in securities — Level 3		5,314
Total	$	262,343
Other financial instruments — Level 1 *	$	21
Total	$	21
Liabilities:
Other financial instruments — Level 1 *	$	426
Total	$	426

* Other financial instruments are derivative instruments not reflected in the Schedule of Investments, such as futures, forwards and swap contracts, which are valued at the unrealized appreciation/depreciation on the investment.

Following is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value:

Assets:
	Securities:
	Balance as of October 31, 2008	$	4,392
	Net realized loss		(1,514	)
	Change in unrealized appreciation ♦		794
	Net purchases		105
	Transfers in and /or out of Level 3		1,537
	Balance as of April 30, 2009	$	5,314
♦	Change in unrealized gains or losses relating to assets still held at April 30, 2009	$	(299	)

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

11

The Hartford Strategic Income Fund

Statement of Assets and Liabilities

April 30, 2009 (Unaudited)

(000’s Omitted)

Assets:
Investments in securities, at fair value (cost $274,485)	$	262,343
Cash		134
Foreign currency on deposit with custodian (cost $390)		343
Receivables:
Investment securities sold		2,986
Fund shares sold		4,976
Dividends and interest		3,461
Variation margin		4
Other assets		66
Total assets		274,313
Liabilities:
Payables:
Investment securities purchased		4,006
Fund shares redeemed		335
Investment management fees		24
Dividends		289
Distribution fees		21
Variation margin		12
Accrued expenses		39
Other liabilities		20
Total liabilities		4,746
Net assets	$	269,567
Summary of Net Assets:
Capital stock and paid-in-capital		321,347
Accumulated undistributed net investment income		280
Accumulated net realized loss on investments and foreign currency transactions		(39,466	)
Unrealized depreciation of investments and the translation of assets and liabilities denominated in foreign currency		(12,594	)
Net assets	$	269,567
Shares authorized		750,000
Par value	$	0.001
Class A: Net asset value per share/Maximum offering price per share	$	7.72/$8.08
Shares outstanding		15,567
Net assets	$	120,234
Class B: Net asset value per share	$	7.72
Shares outstanding		1,318
Net assets	$	10,179
Class C: Net asset value per share	$	7.74
Shares outstanding		11,712
Net assets	$	90,617
Class I: Net asset value per share	$	7.74
Shares outstanding		3,716
Net assets	$	28,763
Class Y: Net asset value per share	$	7.72
Shares outstanding		2,560
Net assets	$	19,774

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

12

The Hartford Strategic Income Fund

Statement of Operations

For the Six Month Period Ended April 30, 2009 (Unaudited)

(000’s Omitted)

Investment Income:
Interest	$	8,735
Total investment income		8,735
Expenses:
Investment management fees		621
Transfer agent fees		110
Distribution fees
Class A		114
Class B		38
Class C		369
Custodian fees		7
Accounting services		20
Registration and filing fees		43
Board of Directors’ fees		2
Audit fees		5
Other expenses		35
Total expenses (before fees paid indirectly)		1,364
Custodian fee offset		—
Total fees paid indirectly		—
Total expenses, net		1,364
Net investment income		7,371
Net Realized Loss on Investments, Other Financial Instruments and Foreign Currency Transactions:
Net realized loss on investments in securities		(30,564	)
Net realized gain on futures and swap contracts		3,124
Net realized loss on foreign currency transactions		(441	)
Net Realized Loss on Investments, Other Financial Instruments and Foreign Currency Transactions		(27,881	)
Net Changes in Unrealized Appreciation of Investments, Other Financial Instruments and Foreign Currency Transactions:
Net unrealized appreciation of investments		39,186
Net unrealized appreciation of futures		147
Net unrealized appreciation on translation of other assets and liabilities in foreign currencies		363
Net Changes in Unrealized Appreciation of Investments, Other Financial Instruments and Foreign Currency Transactions		39,696
Net Gain on Investments, Other Financial Instruments and Foreign Currency Transactions		11,815
Net Increase in Net Assets Resulting from Operations	$	19,186

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

13

The Hartford Strategic Income Fund

Statement of Changes in Net Assets

(000’s Omitted)

	For the Six-Month
	Period Ended			For the
	April 30, 2009			Year Ended
	(Unaudited)			October 31, 2008
Operations:
Net investment income	$	7,371		$	14,226
Net realized loss on investments, other financial instruments and foreign currency transactions		(27,881	)		(11,916	)
Net unrealized appreciation (depreciation) of investments, other financial instruments and foreign currency transactions		39,696			(52,134	)
Net increase (decrease) in net assets resulting from operations		19,186			(49,824	)
Distributions to Shareholders:
From net investment income
Class A		(2,998	)		(5,814	)
Class B		(216	)		(337	)
Class C		(2,169	)		(3,800	)
Class I		(811	)		(1,913	)
Class Y		(1,079	)		(1,949	)
Total distributions		(7,273	)		(13,813	)
Capital Share Transactions:
Class A		35,844			61,055
Class B		3,432			5,497
Class C		18,758			70,941
Class I		3,052			21,383
Class Y		(18,104	)		34,722
Net increase from capital share transactions		42,982			193,598
Net increase in net assets		54,895			129,961
Net Assets:
Beginning of period		214,672			84,711
End of period	$	269,567		$	214,672
Accumulated undistributed net investment income	$	280		$	182

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

14

The Hartford Strategic Income Fund

Notes to Financial Statements

April 30, 2009 (Unaudited)

(000’s Omitted)

1.	Organization:
	The Hartford Mutual Funds, Inc. (“Company”) is an open-end management investment company comprised of fifty-two portfolios. Financial statements for The Hartford Strategic Income Fund (the “Fund”), a series of the Company, are included in this report.
	The Company is organized under the laws of the State of Maryland and is registered with the Securities and Exchange Commission (“SEC”) under the Investment Company Act of 1940, as amended (“1940 Act”). The Fund is a diversified open-end management investment company.
	Class A shares are sold with a front-end sales charge of up to 4.50%. Class B shares are sold with a contingent deferred sales charge which is assessed on the lesser of the per share net asset value (“NAV”) of the shares at the time of redemption or the original purchase price, and declines from up to 5.00% to zero depending on the period of time the shares are held. Class C shares are sold with a contingent deferred sales charge of up to 1.00% on shares redeemed within twelve months of purchase. Class I shares are sold without sales charges to certain eligible investors through advisory fee-based wrap programs. Class Y shares, which are sold to certain eligible institutional investors, are sold without a sales charge. All classes of shares have identical voting, redemption, dividend, liquidation and other rights and the same terms and conditions, with the exceptions that each class may have different expenses, which may affect performance, and except that Class B shares automatically convert to Class A shares after 8 years.
	Effective at the close of business on September 30, 2009 (the “Close Date”), no new or additional investments will be allowed in Class B shares of The Hartford Mutual Funds (including investments through any systematic investment plan). After the Close Date, existing shareholders of Class B shares may continue to hold their Class B shares, exchange their Class B shares for Class B shares of another Hartford Mutual Fund (as permitted by existing exchange privileges), and redeem their Class B shares as described in the Fund’s prospectus. Reinstatement privileges with respect to Class B shares will continue under the current policy. If you have chosen to reinvest capital gains and dividends, any such capital gains or dividends on Class B shares will continue to be reinvested in Class B shares of the Fund. For Class B shares outstanding as of the Close Date, all Class B share attributes, including the 12b-1 fee, contingent deferred sales charge schedule, and conversion to Class A shares remain unchanged.
2.	Significant Accounting Policies:
	The following is a summary of significant accounting policies of the Fund, which are in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”).

a)	Security Transactions and Investment Income - Security transactions are recorded on the trade date (the date the order to buy or sell is executed). Security gains and losses are determined on the basis of identified cost.
	Trade date for senior floating rate interests purchased in the primary market is considered the date on which the loan allocations are determined. Trade date for senior floating rate loan interests purchased in the secondary market is the date on which the transaction is entered into.
	Interest income, including amortization of premium and accretion of discounts, is accrued on a daily basis.
b)	Security Valuation — The Fund generally uses market prices in valuing portfolio securities. If market prices are not readily available or are deemed unreliable, the Fund will use the fair value of the security as determined in good faith under policies and procedures established by and under the supervision of the Fund’s Board of Directors. Market prices may be deemed unreliable, for example, if a security is thinly traded or if an event has occurred after the close of the security’s primary markets, but before the close of the New York Stock Exchange (the “Exchange”) (normally 4:00 p.m. Eastern Time, referred to as the “Valuation Time”) that is expected to affect the value of the portfolio security. The circumstances in which the Fund may use fair value pricing include, among others: (i) the occurrence of events that are

15

The Hartford Strategic Income Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

significant to a particular issuer, such as mergers, restructuring or defaults; (ii) the occurrence of events that are significant to an entire market, such as natural disasters in a particular region or governmental actions; (iii) trading restrictions on securities; (iv) thinly traded securities and (v) market events such as trading halts and early market closings.

Debt securities (other than short-term obligations and senior floating rate interests) held by the Fund are valued on the basis of valuations furnished by an independent pricing service which determines valuations for normal institutional size trading units of debt securities. Senior floating rate interests generally trade in over-the-counter markets and are priced through an independent pricing service utilizing independent market quotations from loan dealers or financial institutions. Securities for which prices are not available from an independent pricing service are valued using market quotations obtained from one or more dealers that make markets in the securities in accordance with procedures established by the Fund’s Board of Directors. Generally, the Fund may use fair valuation in regard to debt securities when the Fund holds defaulted or distressed securities or securities in a company in which a reorganization is pending. Short-term investments with a maturity of more than 60 days when purchased are valued based on market quotations until the remaining days to maturity become less than 61 days. Investments that mature in 60 days or less are valued at amortized cost, which approximates market value.

Options contracts on securities, currencies, indexes, futures contracts, commodities and other instruments shall be valued at their most recent sales price at the Valuation Time on the Primary Market on which the instrument is primarily traded. If the instrument did not trade on the Primary Market, it may be valued at the most recent sales price at the Valuation Time on another exchange or market where it did trade.

Futures contracts are valued at the most recent settlement price reported by an exchange on which, over time, they are traded most extensively. If a settlement price is not available, futures contracts will be valued at the most recent trade price as of the Valuation Time. If there were no trades, the contract shall be valued at the mean of the closing bid/ask prices as of the Valuation Time.

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

A forward currency contract shall be valued based on the price of the underlying currency at the prevailing interpolated exchange rate, which is a combination of the spot currency rate and the forward currency rate. Spot currency rates and forward currency rates are obtained from an independent pricing service on a daily basis not more than one hour before the Valuation Time.

Swaps are valued based on custom valuations furnished by an independent pricing service. Swaps for which prices are not available from an independent pricing service are valued in accordance with procedures established by the Fund’s Board of Directors.

Other derivative or contractual type instruments shall be valued using market prices if such instruments trade on an exchange or market. If such instruments do not trade on an exchange or market, such instruments shall be valued at a price at which the counterparty to such contract would repurchase the instrument. In the event that the counterparty cannot provide a price, such valuation may be determined in accordance with procedures established by the Fund’s Board of Directors.

Investments in open-end mutual funds are valued at the respective NAV of each open-end mutual fund on the valuation date.

16

c)	Foreign Currency Transactions - The accounting records of the Fund are maintained in U.S. dollars. All assets and liabilities initially expressed in foreign currencies are converted into U.S. dollars at the prevailing exchange rates. Purchases and sales of investment securities, dividend and interest income and certain expenses are translated at the rates of exchange prevailing on the respective dates of such transactions.
	The Fund does not isolate that portion of portfolio security valuation resulting from fluctuations in the foreign currency exchange rates on portfolio securities from the fluctuations arising from changes in the market prices of securities held. Such fluctuations are included with the net realized and unrealized gain or loss on investments in the accompanying financial statements.
	Net realized foreign exchange gains or losses arise from sales of foreign currencies and the difference between asset and liability amounts initially stated in foreign currencies and the U.S. dollar value of the amounts actually received or paid. Net unrealized foreign exchange gains or losses arise from changes in the value of other assets and liabilities at the end of the reporting period, resulting from changes in the exchange rates.
d)	Joint Trading Account - Pursuant to an exemptive order issued by the SEC, the Fund may transfer uninvested cash balances into a joint trading account managed by Hartford Investment Management Company (“Hartford Investment Management”). These balances may be invested in one or more repurchase agreements and/or short-term money market instruments.
e)	Repurchase Agreements - A repurchase agreement is an agreement by which the seller of a security agrees to repurchase the security sold at a mutually agreed upon time and price. At the time the Fund enters into a repurchase agreement, the value of the underlying collateral security(ies), including accrued interest, will be equal to or exceed the value of the repurchase agreement. Securities that serve to collateralize the repurchase agreement are held by the Fund’s custodian in book entry or physical form in the custodial account of the Fund or in a third party custodial account. Repurchase agreements are valued at cost plus accrued interest. The Fund, as shown on the Schedule of Investments, had outstanding repurchase agreements as of April 30, 2009.
f)	Forward Foreign Currency Contracts — The Fund may enter into forward foreign currency contracts that obligate the Fund to repurchase/replace or sell currencies at specified future dates. Forward foreign currency contracts may be used to hedge against adverse fluctuations in exchange rates between currencies.
	Forward foreign currency contracts involve elements of market risk in excess of the amount reflected in the Statement of Assets and Liabilities. In addition, risks may arise upon entering into these contracts from the potential inability of the counterparties to meet the terms of the contracts and from unanticipated movements in the value of the foreign currencies relative to the U.S. dollar.
g)	Fund Share Valuation and Dividend Distributions to Shareholders — Orders for the Fund’s shares are executed in accordance with the investment instructions of the shareholders. The NAV of the Fund’s shares is determined as of the close of each business day of the Exchange. The NAV is determined separately for each class of the Fund by dividing the Fund’s net assets attributable to that class by the number of shares of the class outstanding. Orders for the purchase of the Fund’s shares prior to the close of the Exchange on any day on which the Exchange is open for business are priced at the NAV determined as of the close of the Exchange. Orders after the close of the Exchange, or on a day on which the Exchange and/or the Fund is not open for business, are priced at the next determined NAV.
	The Fund intends to distribute substantially all of its net investment income and net realized capital gains to shareholders no less frequently than once a year. Normally, dividends from net investment income are declared daily and paid monthly. Dividends are paid on shares beginning on the business day after the day when the funds used to purchase the shares are collected by the transfer agent for the Fund. Unless shareholders specify otherwise, all dividends will be automatically reinvested in additional full or fractional shares of the Fund.

17

The Hartford Strategic Income Fund
Notes to Financial Statements — (continued) 
April 30, 2009 (Unaudited)
(000’s Omitted)

	Distributions from net investment income, realized capital gains and capital are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP with respect to character and timing. These differences include but are not limited to foreign currency gains and losses, losses deferred due to wash sales adjustments, adjustments related to Passive Foreign Investment Companies and certain derivatives, and excise tax regulations. Permanent book and federal income tax basis differences relating to shareholder distributions will result in reclassifications to certain of the Fund’s capital accounts (see Federal Income Taxes: Reclassification of Capital Accounts footnote).
h)	Illiquid and Restricted Securities — The Fund is permitted to invest up to 15% of its net assets in illiquid securities. “Illiquid Securities” are those that may not be sold or disposed of in the ordinary course of business within seven days, at approximately the price used to determine the Fund’s NAV. The Fund may not be able to sell illiquid securities or other investments when its sub-adviser considers it desirable to do so or may have to sell such securities or investments at a price that is lower than the price that could be obtained if the securities or investments were more liquid. A sale of illiquid securities or other investments may require more time and may result in higher dealer discounts and other selling expenses than does the sale of those that are liquid. Illiquid securities and investments also may be more difficult to value, due to the unavailability of reliable market quotations for such securities or investments, and investment in them may have an adverse impact on the Fund’s NAV. The Fund may also purchase certain restricted securities, commonly known as Rule 144A securities, that can be resold to institutions and which may be determined to be liquid pursuant to policies and guidelines established by the Fund’s Board of Directors. The Fund, as shown in the Schedule of Investments, had illiquid or restricted securities as of April 30, 2009.
i)	Securities Purchased on a When-Issued or Delayed-Delivery Basis — Delivery and payment for securities that have been purchased by the Fund on a forward commitment, or when-issued or delayed-delivery basis take place beyond the customary settlement period. During this period, such securities are subject to market fluctuations, and the Fund identifies securities segregated in its records with value at least equal to the amount of the commitment. As of April 30, 2009, the Fund had entered into outstanding when-issued or forward commitments with a cost of $111.
j)	Credit Risk — Credit risk depends largely on the perceived financial health of bond issuers. In general, the credit rating is inversely related to the credit risk of the issuer. Higher rated bonds generally are deemed to have less credit risk, while lower or unrated bonds are deemed to have higher risk of default. The share price, yield and total return of a Fund which holds securities with higher credit risk may fluctuate more than with less aggressive bond funds.
k)	Senior Floating Rate Interests —The Fund, as shown in the Schedule of Investments, may invest in senior floating rate interests. Senior floating rate interests hold the most senior position in the capital structure of a business entity (the “Borrower”), are typically secured by specific collateral and have a claim on the assets and/or stock of the Borrower that is senior to that held by subordinated debtholders and stockholders of the Borrower. Senior floating rate interests are typically structured and administered by a financial institution that acts as the agent of the lenders participating in the senior floating rate interest. Senior floating rate interests are typically rated below-investment-grade, which suggests they are more likely to default and generally pay higher interest rates than investment-grade loans. A default could lead to non-payment of income which would result in a reduction of income to the Fund and there can be no assurance that the liquidation of any collateral would satisfy the Borrower’s obligation in the event of non-payment of scheduled interest or principal payments, or that such collateral could be readily liquidated.
l)	Prepayment Risks — Most senior floating rate interests and certain debt securities allow for prepayment of principal without penalty. Senior floating rate interests and securities subject to prepayment risk generally offer less potential for gains when interest rates decline, and may offer a greater potential for loss when interest rates rise. In addition, with respect to securities, rising interest rates may cause prepayments to occur at a slower than expected rate, thereby effectively lengthening the maturity of the security and making the security more sensitive to interest rate changes. Prepayment risk is a major risk of mortgage-backed securities and certain asset-backed securities. Accordingly, the potential for the value of a senior floating rate interest or debt security to increase in response to interest rate declines is limited. For certain asset-backed securities, the actual maturity may be less than the stated maturity shown in the

18

	Schedule of Investments. As a result, the timing of income recognition relating to these securities may vary based upon the actual maturity.
	Senior floating rate interests or debt securities purchased to replace a prepaid loan or a debt security may have lower yields than the yield on the prepaid loan or debt security. Senior floating rate interests generally are subject to mandatory and/or optional prepayment. Because of these mandatory prepayment conditions and because there may be significant economic incentives for the Borrower to repay, prepayments of senior floating rate interests may occur. As a result, the actual remaining maturity of senior floating rate interests held may be substantially less than the stated maturities shown in the Schedule of Investments.
m)	Swaps — The Fund may enter into event linked swaps, including credit default swaps. The credit default swap market allows the Fund to manage credit risk through buying and selling credit protection on a specific issuer, an index, or a basket of issuers. A “buyer” of credit protection agrees to pay a counterparty to assume the credit risk of an issuer upon the occurrence of certain events. The “seller” of the protection receives periodic payments and agrees to assume the credit risk of an issuer upon the occurrence of certain events. A “seller’s” exposure is limited to the total notional amount of the credit default swap contract. A Fund will generally not buy protection on issuers that are not currently held by such Fund.
	The Fund may enter into interest rate swaps. In a typical interest rate swap, one party agrees to make regular payments equal to a floating interest rate multiplied by a “notional principal amount,” in return for payments equal to a fixed rate multiplied by the same amount, for a specific period of time. If a swap agreement provides for payments in different currencies, the parties might agree to exchange the notional principal amount as well. Swaps may also depend on other prices or rates, such as the value of an index or mortgage prepayment rates. The Fund had no outstanding swaps as of April 30, 2009.
n)	Use of Estimates — The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and the reported amounts of income and expenses during the period. Operating results in the future could vary from the amounts derived from management’s estimates.
o)	Financial Accounting Standards Board Financial Accounting Standards No. 157 — Effective November 1, 2008, the Fund adopted Financial Accounting Standards Board (“FASB”) Statement of Financial Accounting Standards No. 157, “Fair Value Measurements” (“FAS 157”). This standard clarifies the definition of fair value for financial reporting, establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements. Fair value is defined under FAS 157 as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Under FAS 157, a fair value measurement should reflect all of the assumptions that market participants would use in pricing the asset or liability, including assumptions about the risk inherent in a particular valuation technique, the effect of a restriction on the sale or use of an asset, and the risk of nonperformance.
	Various inputs are used in determining the value of the Fund’s investment. These inputs are summarized, per FAS 157, into three broad hierarchy levels. This hierarchy is based on whether the valuation inputs are observable or unobservable. These levels are:

• Level 1 — Quoted prices in active markets for identical securities. Level 1 includes exchange-traded instruments such as domestic equities, some foreign equities, options, futures, mutual funds, ETF’s, and rights and warrants.

• Level 2 — Observable inputs other than Level 1 prices, such as quoted prices for similar securities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the security. Level 2 includes debt securities that are traded less frequently than exchange-traded instruments and that are valued using third party pricing services and foreign equities, whose value is determined using a multi-factor regression model with inputs that are observable in the market; and money market instruments, which are carried at amortized cost.

19

The Hartford Strategic Income Fund
Notes to Financial Statements — (continued) 
April 30, 2009 (Unaudited)
(000’s Omitted)

• Level 3 — Significant unobservable inputs that are supported by little or no market activity. Level 3 includes financial instruments whose values are determined using broker quotes and require significant management judgment or estimation. This category includes broker quoted securities, long dated OTC options and securities where trading has been halted or there are certain restrictions on trading. While these securities are priced using unobservable inputs, the valuation of these securities reflects the best available data and management believes the prices are a good representation of exit price.

	Individual securities within any of the above mentioned asset classes may be assigned a different hierarchical level than those presented above, as individual circumstances dictate.
	FAS 157 also requires that a roll forward reconciliation be shown for all Level 3 securities from the beginning of the reporting period to the end of the reporting period. Part of this reconciliation includes transfers in and/or out of Level 3. For purposes of this reconciliation, transfers in are shown at the end of period fair value and transfers out are shown at the beginning of period fair value.
	Refer to the valuation hierarchy levels summary and the Level 3 roll forward reconciliation found following the Schedule of Investments.
	FASB Staff Position No. 157-4 — In April 2009, FASB released FASB Staff Position No. 157-4, “Determining Fair Value When the Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly” (“FSP FAS 157-4”). FSP FAS 157-4 provides additional guidance on determining whether a market for a financial asset is not active and a transaction is not distressed when measuring fair value under FAS 157. The FSP also requires additional disclosure detail on debt and equity securities by major investment categories. FSP FAS 157-4 is effective for interim and annual periods ending after June 15, 2009. At this time, management is evaluating the implications of FSP FAS 157-4 and does not believe it will impact valuation but will require additional disclosure. This additional disclosure has not yet been implemented.
p)	Financial Accounting Standards Board Financial Accounting Standards No. 161 — In March 2008, the FASB released Statement of Financial Accounting Standards No. 161, “Disclosures about Derivative Instruments and Hedging Activities” (“FAS 161”). FAS 161 requires companies to disclose information detailing the objectives and strategies for using derivative instruments, the level of derivative activity entered into by the company and any credit risk-related contingent features of the agreements. The application of FAS 161 is required for fiscal years and interim periods beginning after November 15, 2008. At this time, management is evaluating the implications of FAS 161 and has not yet implemented the new disclosure standard.
q)	Indemnifications: Under the Company’s organizational documents, the Company shall indemnify its officers and directors to the full extent required or permitted under Maryland General Corporation Law and the federal securities law. In addition, the Company, on behalf of the Fund, may enter into contracts that contain a variety of indemnifications. The Company’s maximum exposure under these arrangements is unknown. However, the Company has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote.

3. Futures and Options:

Futures and Options Transactions — The Fund may invest in futures and options contracts in order to gain exposure to or protect against changes in the market. A futures contract is an agreement between two parties to buy and sell a security at a set price on a future date. When the Fund enters into such futures contracts, it is required to deposit with a futures commission merchant an amount of “initial margin” of cash, commercial paper or U.S. Treasury Bills. Subsequent payments, called variation margin, to and from the broker, are made on a daily basis as the price of the underlying security fluctuates, making the long and short positions in the futures contract more or less valuable (i.e., mark-to-market), which results in an unrealized gain or loss to the Fund.

20

At any time prior to the expiration of the futures contract, the Fund may close the position by taking an opposite position, which would effectively terminate the position in the futures contract. A final determination of variation margin is then made, additional cash is required to be paid by or released to the Fund and the Fund realizes a gain or loss.

The use of futures contracts involves elements of market risk, which may exceed the amounts recognized in the Statement of Assets and Liabilities. Changes in the value of the futures contracts may decrease the effectiveness of the Fund’s strategy and potentially result in loss. The Fund, as shown on the Schedule of Investments, had outstanding futures contracts as of April 30, 2009.

The premium paid by the Fund for the purchase of a call or put option is included in the Fund’s Statement of Assets and Liabilities as an investment and subsequently “marked-to-market” through net unrealized appreciation (depreciation) of options to reflect the current market value of the option as of the end of the reporting period.

The Fund may write (sell) covered options. “Covered” means that so long as the Fund is obligated as the writer of an option, it will own either the underlying securities or currency or an option to purchase or sell the same underlying securities or currency having an expiration date of the covered option and an exercise price equal to or less than the exercise price of the covered option, or will pledge cash or other liquid securities having a value equal to or greater than the fluctuating market value of the option securities or currencies. The Fund receives a premium for writing a call or put option, which is recorded on the Fund’s Statement of Assets and Liabilities and subsequently “marked-to-market” through net unrealized appreciation (depreciation) of options. There is a risk of loss from a change in the value of such options, which may exceed the related premiums received. As of April 30, 2009, there were no outstanding written options contracts.

4. Federal Income Taxes:

a)

Federal Income Taxes - For federal income tax purposes, the Fund intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code (“IRC”) by distributing substantially all of its taxable net investment income and net realized capital gains to its shareholders and otherwise complying with the requirements of regulated investment companies. The Fund has distributed substantially all of its income and capital gains in prior years and the Fund intends to distribute substantially all of its income and gains during the calendar year ending December 31, 2009. Accordingly, no provision for federal income or excise taxes has been made in the accompanying financial statements. Distributions from short-term capital gains are treated as ordinary income distributions for federal income tax purposes.

b)

The tax character of distributions paid by the Fund for the periods indicated is as follows (as adjusted for dividends payable):

	For the Year Ended		For the Year Ended
	October 31, 2008		October 31, 2007 @
Ordinary Income	$	13,558	$	1,168
Long-Term Capital Gains *		—		1

*	The Fund designates these distributions as long-term capital gain dividends pursuant to IRC code Sec. 852(b)(3)(C).
@	For the period May 15, 2007 (commencement of operations) through October 31, 2007.

21

The Hartford Strategic Income Fund
Notes to Financial Statements — (continued) 
April 30, 2009 (Unaudited)
(000’s Omitted)

As of October 31, 2008, the Fund’s components of distributable earnings (deficit) on a tax basis were as follows:

	Amount
Undistributed Ordinary Income	$	528
Accumulated Capital Losses*	$	(12,098	)
Unrealized Depreciation†	$	(51,777	)
Total Accumulated Deficit	$	(63,347	)

*	The Fund has capital loss carryforwards that are identified in the Capital Loss Carryforward note that follows.
†	The differences between book-basis and tax-basis unrealized appreciation (depreciation) are attributable to the tax deferral of wash sales losses, the mark-to-market adjustment for certain derivatives in accordance with IRC Sec. 1256, the mark to market for Passive Foreign Investment Companies and basis differences in real estate investment trusts.

c)

Reclassification of Capital Accounts - In accordance with American Institute of Certified Public Accountants (AICPA) Statement of Position 93-2, Determination, Disclosure, and Financial Statement Presentation of Income, Capital Gain, and Return of Capital Distributions by Investment Companies, the Fund has recorded reclassifications in its capital accounts. These reclassifications had no impact on the NAV of the Fund. The reclassifications are a result of permanent differences between GAAP and tax accounting for such items as net operating losses that reduce distribution requirements. Adjustments are made to reflect the impact these items have on current and future distributions to shareholders. Therefore, the source of the Fund’s distributions may be shown in the accompanying Statement of Changes in Net Assets as from net investment income, from net realized gains on investments or from capital depending on the type of book and tax differences that exist. As of October 31, 2008, the Fund recorded reclassifications to decrease undistributed net investment income by $412 and increase accumulated net realized gain by $412.

d)

Capital Loss Carryforward - At October 31, 2008 (tax-year-end), the Fund had capital loss carryforwards for U.S. federal income tax purposes of approximately:

Year	Amount
2016	$	12,098
Total	$	12,098

e) Financial Accounting Standards Board Interpretation No. 48 — On July 13, 2006, the FASB released FASB Interpretation No. 48 “Accounting for Uncertainty in Income Taxes” (“FIN 48”). FIN 48 provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. The Fund adopted FIN 48 for fiscal years beginning after December 15, 2006. Management has evaluated the implications of FIN 48 for all open tax years (tax years ended October 31, 2006 – 2008) and has determined there is no impact to the Fund’s financial statements.

5. Expenses:

a) Investment Management Agreements — Hartford Investment Financial Services, LLC (“HIFSCO”) serves as investment manager to the Fund pursuant to an Investment Management Agreement with The Hartford Mutual Funds, Inc. As investment manager, HIFSCO has overall investment supervisory responsibility for the Fund. In addition, HIFSCO provides administrative personnel, services, equipment, facilities and office space for proper operation of the Fund. HIFSCO has contracted with Hartford Investment Management for the provision of day-to-day investment management services to the Fund in accordance with the Fund’s investment objective and policies. The Fund pays a fee to HIFSCO, a portion of which may be used to compensate Hartford Investment Management.

22

The schedule below reflects the rates of compensation paid to HIFSCO for investment management services rendered during the six-month period ended April 30, 2009; the rates are accrued daily and paid monthly:

Average Daily Net Assets	Annual Fee
On first $500 million		0.550	%
On next $500 million		0.500	%
On next $4 billion		0.475	%
On next $5 billion		0.455	%
Over $10 billion		0.445	%

b) Accounting Services Agreement — Pursuant to the Fund Accounting Agreement between Hartford Life Insurance Company (“HLIC”) and the Fund, HLIC provides accounting services to the Fund and receives monthly compensation on the Fund’s average net assets. The Fund’s accounting service fees are accrued daily and paid monthly.

Average Daily Net Assets	Annual Fee
On first $5 billion		0.018	%
On next $5 billion		0.016	%
Over $10 billion		0.014	%

c) Operating Expenses - Allocable expenses incurred by the Company are allocated to each Fund and allocated to classes within the Fund in proportion to the average daily net assets of the Fund and each class, except where allocation of certain expenses is more fairly made directly to the Fund or to specific classes within a Fund. During the six-month period ended April 30, 2009, HIFSCO has contractually limited the total operating expenses of this Fund, exclusive of taxes, interest expense, brokerage commissions, certain distribution expenses and extraordinary expenses as follows:

Class A	Class B			Class C			Class I			Class Y
1.15%		1.90	%		1.90	%		0.90	%		0.90	%

d)	Fees Paid Indirectly - The Fund’s custodian bank has agreed to reduce its fees when the Fund maintains cash on deposit in the non-interest-bearing custody account. For the six-month period ended April 30, 2009, this amount is included in the Statement of Operations.
	The ratio of expenses to average net assets in the accompanying financial highlights excludes the reduction in expenses related to fees paid indirectly. Had the fees paid indirectly been included, the annualized expense ratio for the periods listed below would have been as follows:

	Annualized
	Six-Month
	Period			Year Ended			Year Ended
	Ended April			October 31,			October 31,
	30, 2009			2008			2007
Class A Shares		1.01	%		0.61	%		0.46	%*
Class B Shares		1.85			1.45			1.25	†
Class C Shares		1.75			1.38			1.26	‡
Class I Shares		0.76			0.38			0.27	§
Class Y Shares		0.65			0.30			0.24	**

*	From May 31, 2007 (commencement of operations), through October 31, 2007
†	From May 31, 2007 (commencement of operations), through October 31, 2007
‡	From May 31, 2007 (commencement of operations), through October 31, 2007
§	From May 31, 2007 (commencement of operations), through October 31, 2007
**	From August 31, 2007 (commencement of operations), through October 31, 2007

23

The Hartford Strategic Income Fund
Notes to Financial Statements — (continued) 
April 30, 2009 (Unaudited)
(000’s Omitted)

e)	Distribution and Service Plan for Class A, B and C Shares - HIFSCO is the principal underwriter and distributor of the Fund. HIFSCO is engaged in distribution activities, which include marketing and distribution of shares through broker-dealers, financing distribution costs and maintaining financial books and records. For the six-month period ended April 30, 2009, HIFSCO received front-end load sales charges of $707 and contingent deferred sales charges of $50 from the Fund.
	The Fund has adopted Distribution and Service Plans in accordance with Rule 12b-1 of the Investment Company Act of 1940, as amended, to compensate the distributor (HIFSCO) for activities intended to result in the sale and distribution of Classes A, B and C shares and for providing services for shareholders. The Rule 12b-1 plan applicable to Class A shares of the Funds provides for payment of a Rule 12b-1 fee of up to 0.35% of average daily net assets; however, the Board of Directors has currently authorized 12b-1 payments of only up to 0.25%. Some or all of the fee may be used for shareholder servicing expenses with the remainder used for distribution expenses. Some or the entire Rule 12b-1 fee for Class B shares may be remitted to broker-dealers for distribution and/or shareholder account services. Under the Class B Plan, the Fund pays the distributor 1.00% of the average daily net assets of Class B shares that are outstanding for 8 years or less, 0.25% of which is a fee for services provided to existing shareholders with the remainder used for distribution expenses. After eight years, Class B shares convert to Class A shares. Upon conversion to Class A shares, the Class A plan described above will apply to those shares. Under the Class C Plan, the Fund pays the Distributor 1.00% of the average daily net assets of Class C shares outstanding, 0.25% of which is intended as a fee for services provided to existing shareholders with the remainder used for distribution expenses. For Class C shares, some or the entire fee may be remitted to broker-dealers for distribution and/or shareholder account services. The Fund’s 12b-1 fees are accrued daily and paid monthly.
	For the six-month period ended April 30, 2009, total sales commissions paid to affiliated brokers/dealers of The Hartford for distributing the Fund’s shares were $25. These commissions are in turn paid to sales representatives of the broker/dealers.
f)	Other Related Party Transactions — Certain officers of the Fund are directors and/or officers of HIFSCO and/or The Hartford or its subsidiaries. For the six-month period ended April 30, 2009, a portion of the Fund’s chief compliance officer’s salary was paid by the Fund in an amount, which rounds to zero. Hartford Administrative Services Company (“HASCO”), an indirect wholly owned subsidiary of The Hartford, provides transfer agent services to the Fund. HASCO was compensated $108 for providing such services. These fees are accrued daily and paid monthly.

6.	Investment Transactions:
	For the six-month period ended April 30, 2009, the Fund’s aggregate purchases and sales of investment securities (excluding short-term investments) were as follows:

	Amount
Cost of Purchases Excluding U.S. Government Obligations	$	94,508
Sales Proceeds Excluding U.S. Government Obligations		107,008
Cost of Purchases for U.S. Government Obligations		126,083
Sales Proceeds for U.S. Government Obligations		87,567

24

7.	Capital Share Transactions:
	The following information is for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	For the Six-Month Period Ended April 30, 2009												For the Year Ended October 31, 2008
			Shares					Shares							Shares					Shares
			Issued for					Issued		Net Increase					Issued for					Issued		Net Increase
	Shares		Reinvested		Shares			from		(Decrease) of			Shares		Reinvested		Shares			from		(Decrease) of
	Sold		Dividends		Redeemed			Merger		Shares			Sold		Dividends		Redeemed			Merger		Shares
Class A
Shares		7,282		272		(2,767	)		—		4,787			12,059		415		(6,100	)		—		6,374
Amount	$	54,274	$	2,025	$	(20,455	)	$	—	$	35,844		$	111,930	$	3,769	$	(54,644	)	$	—	$	61,055
Class B
Shares		582		20		(142	)		—		460			816		24		(253	)		—		587
Amount	$	4,343	$	146	$	(1,057	)	$	—	$	3,432		$	7,570	$	214	$	(2,287	)	$	—	$	5,497
Class C
Shares		3,784		177		(1,464	)		—		2,497			9,710		244		(2,509	)		—		7,445
Amount	$	28,263	$	1,318	$	(10,823	)	$	—	$	18,758		$	90,974	$	2,188	$	(22,221	)	$	—	$	70,941
Class I
Shares		1,345		82		(1,038	)		—		389			4,628		156		(2,605	)		—		2,179
Amount	$	10,079	$	612	$	(7,639	)	$	—	$	3,052		$	43,202	$	1,415	$	(23,234	)	$	—	$	21,383
Class Y
Shares		85		144		(2,667	)		—		(2,438	)		3,946		218		(256	)		—		3,908
Amount	$	632	$	1,064	$	(19,800	)	$	—	$	(18,104	)	$	34,952	$	1,964	$	(2,194	)	$	—	$	34,722

The following reflects the conversion of Class B Shares into Class A Shares (reflected as Class A Shares issued and Class B shares redeemed) for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	Shares		Dollars
For the Six-Month Period Ended April 30, 2009		6	$	49
For the Year Ended October 31, 2008		5	$	45

8.

Line of Credit:

The Fund is one of several Hartford Funds that participate in a $500 million committed revolving line of credit facility. The facility is to be used for temporary or emergency purposes. Under the arrangement, the Fund is required to own securities having a market value in excess of 300% of the total bank borrowings. The interest rate on borrowings varies depending on the nature of the loan. The facility also requires a fee to be paid based on the amount of the commitment. During the six-month period ended April 30, 2009, the Fund did not have any borrowings under this facility.

25

The Hartford Strategic Income Fund

Financial Highlights — (Unaudited)

	— Selected Per-Share Data — (a)																												— Ratios and Supplemental Data —
																																	Ratio of			Ratio of			Ratio of
																																	Expenses			Expenses			Expenses
																																	to Average			to Average			to Average
																																	Net Assets			Net Assets			Net Assets
																																	Before			After			After
							Net																										Waivers			Waivers			Waivers
							Realized																										and			and			and			Ratio of
							and Un-									Distrib-							Net										Reimburse-			Reimburse-			Reimburse-			Net
			Net		Pay-		realized						Dividends			utions							Increase			Net							ments and			ments and			ments and			Invest-			Port-
	Net Asset		Invest-		ments		Gain						from Net			from		Distri-					(Decrease)			Asset					Net Assets		Including			Including			Excluding			ment			folio
	Value at		ment		from		(Loss) on			Total from			Invest-			Realized		butions		Total			in Net			Value at					at End of		Expenses			Expenses			Expenses			Income to			Turn-
	Beginning		Income		(to)		Invest-			Investment			ment			Capital		from		Distri-			Asset			End of		Total			Period		not Subject			not Subject			not Subject			Average			over
Class	of Period		(Loss)		Affiliate		ments			Operations			Income			Gains		Capital		butions			Value			Period		Return(b)			(000’s)		to Cap(c)			to Cap(c)			to Cap(c)			Net Assets			Rate(d)
For the Six-Month Period Ended April 30, 2009 (Unaudited)
A	$	7.35	$	0.24	$	—	$	0.37		$	0.61		$	(0.24	)	$	—	$	—	$	(0.24	)	$	0.37		$	7.72		8.54	%(e)	$	120,234		1.01	%(f)		1.01	%(f)		1.01	%(f)		6.66	%(f)		92	%
B		7.35		0.21		—		0.37			0.58			(0.21	)		—		—		(0.21	)		0.37			7.72		8.08	(e)		10,179		1.85	(f)		1.85	(f)		1.85	(f)		5.80	(f)		—
C		7.36		0.22		—		0.38			0.60			(0.22	)		—		—		(0.22	)		0.38			7.74		8.28	(e)		90,617		1.75	(f)		1.75	(f)		1.75	(f)		5.96	(f)		—
I		7.37		0.26		—		0.36			0.62			(0.25	)		—		—		(0.25	)		0.37			7.74		8.79	(e)		28,763		0.76	(f)		0.76	(f)		0.76	(f)		6.98	(f)		—
Y		7.35		0.26		—		0.37			0.63			(0.26	)		—		—		(0.26	)		0.37			7.72		8.73	(e)		19,774		0.65	(f)		0.65	(f)		0.65	(f)		7.32	(f)		—
For the Year Ended October 31, 2008
A		9.75		0.65		—		(2.39	)		(1.74	)		(0.66	)		—		—		(0.66	)		(2.40	)		7.35		(19.02	)		79,242		0.97			0.61			0.61			7.14			132
B		9.75		0.58		—		(2.40	)		(1.82	)		(0.58	)		—		—		(0.58	)		(2.40	)		7.35		(19.66	)		6,308		1.81			1.45			1.45			6.33			—
C		9.76		0.59		—		(2.40	)		(1.81	)		(0.59	)		—		—		(0.59	)		(2.40	)		7.36		(19.62	)		67,863		1.75			1.38			1.38			6.40			—
I		9.77		0.69		—		(2.41	)		(1.72	)		(0.68	)		—		—		(0.68	)		(2.40	)		7.37		(18.77	)		24,508		0.75			0.38			0.38			7.37			—
Y		9.76		0.69		—		(2.41	)		(1.72	)		(0.69	)		—		—		(0.69	)		(2.41	)		7.35		(18.85	)		36,751		0.67			0.30			0.30			7.49			—
From (date shares became available to public) May 31, 2007, through October 31, 2007
A(g)		9.90		0.29		—		(0.14	)		0.15			(0.30	)		—		—		(0.30	)		(0.15	)		9.75		1.53	(e)		42,949		1.01	(f)		0.46	(f)		0.46	(f)		7.15	(f)		40
B(h)		9.90		0.26		—		(0.15	)		0.11			(0.26	)		—		—		(0.26	)		(0.15	)		9.75		1.21	(e)		2,644		1.80	(f)		1.25	(f)		1.25	(f)		6.42	(f)		—
C(i)		9.90		0.27		—		(0.15	)		0.12			(0.26	)		—		—		(0.26	)		(0.14	)		9.76		1.31	(e)		17,275		1.81	(f)		1.26	(f)		1.26	(f)		6.47	(f)		—
I(j)		9.90		0.31		—		(0.13	)		0.18			(0.31	)		—		—		(0.31	)		(0.13	)		9.77		1.84	(e)		11,212		0.82	(f)		0.27	(f)		0.27	(f)		7.49	(f)		—
Y(k)		9.57		0.12		—		0.19			0.31			(0.12	)		—		—		(0.12	)		0.19			9.76		3.28	(e)		10,631		0.80	(f)		0.25	(f)		0.25	(f)		7.73	(f)		—

(a)	Information presented relates to a share outstanding throughout the indicated period.
(b)	Assumes initial investment at net asset value at the beginning of each period, reinvestment of all distributions, the complete redemption of the investment at net asset value at the end of each period and no sales charge. Total return would be reduced if sales charges were taken into account.
(c)	Ratios do not include fees paid indirectly (See Expenses in the accompanying Notes to Financial Statements).
(d)	Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between the classes of shares issued.
(e)	Not annualized.
(f)	Annualized.
(g)	Commenced operations on May 31, 2007.
(h)	Commenced operations on May 31, 2007.
(i)	Commenced operations on May 31, 2007.
(j)	Commenced operations on May 31, 2007.
(k)	Commenced operations on August 31, 2007.

26

The Hartford Strategic Income Fund

Directors and Officers (Unaudited)

The Board of Directors appoints officers who are responsible for the day-to-day operations of the Fund and who execute policies formulated by the Directors. Each director serves until his or her death, resignation, or retirement or until the next annual meeting of shareholders is held or until his or her successor is elected and qualifies.

Directors and officers who are employed by or who have a financial interest in The Hartford are considered “interested” persons of the Fund pursuant to the Investment Company Act of 1940, as amended. Each officer and three of the Fund’s directors, as noted in the chart below, are “interested” persons of the Fund. Each director serves as a director for The Hartford Mutual Funds, Inc., The Hartford Mutual Funds II, Inc., The Hartford Income Shares Fund, Inc., Hartford Series Fund, Inc., and Hartford HLS Series Fund II, Inc., which collectively consist of 100 funds. Correspondence may be sent to directors and officers c/o Hartford Mutual Funds, P.O. Box 2999, Hartford, Connecticut 06104-2999, except that correspondence to Ms. Fagely may be sent to 500 Bielenberg Drive, Woodbury, Minnesota 55125.

The table below sets forth, for each director and officer, his or her name, year of birth, current position with the Fund and date first elected or appointed to The Hartford Mutual Funds, Inc. (“MF”) and The Hartford Mutual Funds II, Inc. (“MF2”), principal occupation, and, for directors, other directorships held. The Fund’s statement of additional information contains further information on the directors and is available free of charge by calling 1-888-843-7824 or writing to Hartford Mutual Funds, P.O. Box 64387, St. Paul, MN 55164-0387.

Information on the aggregate remuneration paid to the directors of the Fund can be found in the Statement of Operations herein. The Fund pays a portion of the Chief Compliance Officer’s compensation, but does not pay salaries or compensation to any of its officers or directors who are employed by The Hartford.

Non-Interested Directors

Lynn S. Birdsong (1946) Director since 2003, Co-Chairman of the Investment Committee

Mr. Birdsong is a private investor. Since 1981, Mr. Birdsong has been a partner in Birdsong Company, an advertising specialty firm. Since 2003, Mr. Birdsong has been an independent director of The Japan Fund. From 2003 to March 2005, Mr. Birdsong was an independent director of the Atlantic Whitehall Funds. From 1979 to 2002, Mr. Birdsong was a managing director of Zurich Scudder Investments, an investment management firm. During his employment with Scudder, Mr. Birdsong was an interested director of The Japan Fund.

Robert M. Gavin, Jr. (1940) Director since 2002 (MF) and 1986 (MF2), Chairman of the Board since 2004

Dr. Gavin is an educational consultant. Prior to September 1, 2001, he was President of Cranbrook Education Community and prior to July 1996, he was President of Macalester College, St. Paul, Minnesota.

Duane E. Hill (1945) Director since 2001 (MF) and 2002 (MF2), Chairman of the Nominating Committee

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

Sandra S. Jaffee (1941) Director since 2005

Ms. Jaffee is Chairman and Chief Executive Officer of Fortent (formerly Searchspace Group), a leading provider of compliance/regulatory technology to financial institutions. Ms. Jaffee served as an Entrepreneur in Residence with Warburg Pincus, a private equity firm, from August 2004 to August 2005. From September 1995 to July 2004, Ms. Jaffee served as Executive Vice President at Citigroup, where she was President and Chief Executive Officer of Citibank’s Global Securities Services (1995-2003).

William P. Johnston (1944) Director since 2005, Chairman of the Compliance Committee

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

27

The Hartford Strategic Income Fund
Directors and Officers (Unaudited) — (continued)

Phillip O. Peterson (1944) Director since 2002 (MF) and 2000 (MF2), Chairman of the Audit Committee

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

Lemma W. Senbet (1946) Director since 2005

Dr. Senbet is the William E. Mayer Chair Professor of Finance at the University of Maryland, Robert H. Smith School of Business. He was chair of the Finance Department during 1998-2006. Previously he was an endowed professor of finance at the University of Wisconsin-Madison. Also, he was director of the Fortis Funds from March 2000-July 2002. Dr. Senbet served the finance profession in various capacities, including as director of the American Finance Association and President of the Western Finance Association. In 2006, Dr. Senbet was inducted Fellow of Financial Management Association International for his career-long distinguished scholarship and professional service.

Interested Directors and Officers

Thomas M. Marra* (1958) Director since 2002

Mr. Marra has served as President and Chief Operating Officer of The Hartford Financial Services Group, Inc. (“The Hartford”) since 2007. Mr. Marra currently serves as Director of Hartford Life, Inc. (“HL, Inc.”). Mr. Marra served as Chief Operating Officer of Hartford Life Insurance Company, Inc. (“Hartford Life”) (2000-2008), as President of Hartford Life (2002-2008) and as Director of Hartford Life’s Investment Products Division from 1998 to 2000.

* On February 24, 2009, The Hartford and Mr. Marra determined to enter into a mutually agreed separation whereby Mr. Marra will retire, and his role as an executive officer and employee of The Hartford will terminate, effective July 3, 2009. Mr. Marra will resign his position as a Director of the Fund effective June 25, 2009.

Lowndes A. Smith (1939) Director since 2002, Co-Chairman of the Investment Committee

Mr. Smith served as Vice Chairman of The Hartford from February 1997 to January 2002, as President and Chief Executive Officer of Hartford Life, Inc. from February 1997 to January 2002, and as President and Chief Operating Officer of The Hartford Life Insurance Companies from January 1989 to January 2002. Mr. Smith serves as a Director of White Mountains Insurance Group, Ltd., One Beacon Insurance, Symetra Financial and as a Managing Director of Whittington Gray Associates.

John C. Walters* (1962) Director since 2008

Mr. Walters currently serves as Chief Executive Officer, President and Director of HL, Inc. Mr. Walters previously served as President of the U.S. Wealth Management Division of Hartford Life, Inc., as Co-Chief Operating Officer of Hartford Life Insurance Company (2007-2008) and as Executive Vice President and Director of its Investment Products Division (2000-2008). Mr. Walters also serves as Chairman of the Board, Chief Executive Officer, President and Director of Hartford Life Insurance Company and as Executive Vice President of The Hartford. In addition, Mr. Walters is Manager of HL Investment Advisors, LLC (“HL Advisors”).

* Mr. Walters previously served as President and Chief Executive Officer of the Fund (2007 – 2009).

Other Officers

Robert M. Arena, Jr. (1968) President and Chief Executive Officer since 2009 (served as Vice President of the Fund (2006 – 2009))

Mr. Arena serves as Executive Vice President of Hartford Life Insurance Company, (“Hartford Life”). Additionally, Mr. Arena is Director and Senior Vice President of Hartford Administrative Services Company, (“HASCO”), Manager, Chief Executive Officer and President of Hartford Investment Financial Services, LLC (“HIFSCO”) and HL Advisors. Prior to joining The Hartford in 2004, he was Senior Vice President in charge of Product Management for American Skandia/Prudential in the individual annuities division. Mr. Arena joined American Skandia in 1996.

Tamara L. Fagely (1958) Vice President, Treasurer and Controller since 2002 (MF) 1993 (MF2)

Ms. Fagely has been a Vice President of HASCO since 1998 and Chief Financial Officer since 2006. Currently Ms. Fagely is a Vice President of Hartford Life. She served as Assistant Vice President of Hartford Life from December 2001 through March 2005. In addition, Ms. Fagely is Controller and Chief Financial Officer of HIFSCO.

Brian Ferrell (1962) AML Compliance Officer since 2008

Mr. Ferrell has served as Assistant Vice President and AML Compliance Officer for The Hartford since 2006 and as AML Compliance Officer for HASCO and Hartford Investor Services Company, LLC (“HISC”) since 2008. Prior to joining The Hartford in 2006, Mr. Ferrell held various positions at the U.S. Department of the Treasury, (the “Treasury”), from 2001 to 2006 where he served as Chief Counsel for the Treasury’s Financial Crimes Enforcement Network, (“FinCEN”) from 2005 – 2006.

28

Thomas D. Jones, III (1965) Vice President and Chief Compliance Officer since 2006

Mr. Jones serves as Chief Compliance Officer for the Hartford Mutual Funds and Vice President and Director of Securities Compliance for The Hartford. He is also Vice President of HIFSCO, HL Advisors, and Hartford Life Insurance Company. Mr. Jones joined The Hartford in 2006 from SEI Investments, where he served as Chief Compliance Officer for its mutual funds and investment advisers. Prior to joining SEI, Mr. Jones was First Vice President and Compliance Director for Merrill Lynch Investment Managers (Americas) (“MLIM”), where he worked from 1992-2004. At MLIM, Mr. Jones was responsible for the compliance oversight of various investment products, including mutual funds, wrap accounts, institutional accounts and alternative investments.

Edward P. Macdonald (1967) Vice President, Secretary and Chief Legal Officer since 2005

Mr. Macdonald serves as Assistant General Counsel and Assistant Vice President of The Hartford and Chief Legal Officer and Vice President of HIFSCO. He also serves as Vice President and Secretary of HASCO, Assistant Vice President of Hartford Life, and Chief Legal Officer, Secretary and Vice President of HL Advisors. Prior to joining The Hartford in 2005, Mr. Macdonald was Chief Counsel, Investment Management for Prudential Financial (formerly American Skandia Investment Services, Inc.). He joined Prudential in April 1999.

Vernon J. Meyer (1964) Vice President since 2006

Mr. Meyer serves as Senior Vice President of Hartford Life and as Director of its Investment Advisory Group in the Individual Markets Group segment. He also serves as Senior Vice President of HIFSCO and HL Advisors. Prior to joining The Hartford in 2004, Mr. Meyer was with MassMutual which he joined in 1987.

D. Keith Sloane (1960) Vice President since 2009

Mr. Sloane is a Senior Vice President of Hartford Life where he serves as Director of mutual fund product management for The Hartford’s mutual funds and 529 college savings businesses. Additionally, Mr. Sloane currently serves as Senior Vice President of HIFSCO, HL Advisors, and HASCO. Prior to joining The Hartford in 2007, Mr. Sloane was Director of product marketing and led the mutual fund business for Wachovia Securities (“Wachovia”) in their investment products group. Mr. Sloane joined Wachovia in 1995.

Jane Wolak (1961) Vice President since 2009

Ms. Wolak currently serves as Vice President of Hartford Life. Ms. Wolak joined Hartford Life as Vice President, Retail Product Services in May 2007. She is also Vice President of HASCO. Previously, Ms. Wolak was with Sun Life Financial where she held the position of Vice President, Service Center Operations from 2001 – 2007.

HOW TO OBTAIN A COPY OF THE FUND’S PROXY VOTING POLICIES AND VOTING RECORDS

A description of the policies and procedures that the Fund uses to determine how to vote proxies relating to portfolio securities and a record of how the Fund voted any proxies for the twelve-month period ended June 30, 2008 is available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov.

QUARTERLY PORTFOLIO HOLDINGS INFORMATION

The Fund files a complete schedule of portfolio holdings with the Commission for the first and third quarters of each fiscal year on Form N-Q. The Fund’s Forms are available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov. The Form N-Q may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330.

29

The Hartford Strategic Income Fund

Expense Example (Unaudited)

Your Fund’s Expenses

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments and contingent deferred sales charges (CDSC) (2) ongoing costs including management fees; distribution fees; and other fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the period of October 31, 2008 through April 30, 2009.

Actual Expenses

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

Hypothetical Example for Comparison Purposes

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

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads) and CDSC. Therefore, the second line 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 are equal to the Fund’s annualized expense ratios multiplied by average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

	Actual return						Hypothetical (5% return before expenses)
					Expenses paid						Expenses paid					Days in
					during the period						during the period					the		Days
	Beginning		Ending Account		October 31, 2008		Beginning		Ending Account		October 31,		Annualized			current		in the
	Account Value		Value		through		Account Value		Value		2008 through		expense			1/2		full
	October 31, 2008		April 30, 2009		April 30, 2009		October 31, 2008		April 30, 2009		April 30, 2009		ratio			year		year
Class A	$	1,000.00	$	1,085.41	$	5.22	$	1,000.00	$	1,019.78	$	5.05		1.01	%		181		365
Class B	$	1,000.00	$	1,080.83	$	9.54	$	1,000.00	$	1,015.62	$	9.24		1.85			181		365
Class C	$	1,000.00	$	1,082.75	$	9.03	$	1,000.00	$	1,016.11	$	8.74		1.75			181		365
Class I	$	1,000.00	$	1,087.91	$	3.93	$	1,000.00	$	1,021.02	$	3.80		0.76			181		365
Class Y	$	1,000.00	$	1,087.27	$	3.36	$	1,000.00	$	1,021.57	$	3.25		0.65			181		365

30

The Hartford Target Retirement 2010 Fund

Table of Contents

Manager Discussions (Unaudited)	2
Financial Statements
Schedule of Investments at April 30, 2009 (Unaudited)	4
Statement of Assets and Liabilities at April 30, 2009 (Unaudited)	5
Statement of Operations for the Six Month Period Ended April 30, 2009 (Unaudited)	6
Statement of Changes in Net Assets for the Six Month Period Ended April 30, 2009 (Unaudited) and the Year Ended October 31, 2008	7
Notes to Financial Statements (Unaudited)	8
Financial Highlights (Unaudited)	17
Directors and Officers (Unaudited)	18
How to Obtain a Copy of the Fund’s Proxy Voting Policies and Proxy Voting Records (Unaudited)	20
Quarterly Portfolio Holdings Information (Unaudited)	20
Expense Example (Unaudited)	21

The Hartford Target Retirement 2010 Fund
(subadvised by Hartford Investment Management Company)

Performance Overview(1) 9/30/05 — 4/30/09
Growth of a $10,000 investment in Class A which includes Sales Charge

Barclays Capital U.S. Aggregate Bond Index is an unmanaged index and is composed of securities from the Barclays Capital Government/Credit Bond Index, Mortgage-Backed Securities Index, Asset-Backed Securities Index and Commercial Mortgage-Backed Securities Index.

S&P 500 Index is a market capitalization weighted price index composed of 500 widely held common stocks.

You cannot invest directly in an index.

The value of shares will fluctuate so that, when redeemed, shares may be worth more or less than their original cost. The chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.

Investment objective — Seeks to maximize total return and secondarily, to seek capital preservation.

Average Annual Total Returns(2,3,4) (as of 4/30/09)

	Inception		1			Since
	Date		Year			Inception
Target Retirement 2010 A#		9/30/05		-24.90	%		-3.67	%
Target Retirement 2010 A##		9/30/05		-29.03	%		-5.18	%
Target Retirement 2010 B#		9/30/05		-25.59	%		-4.43	%
Target Retirement 2010 B##		9/30/05		-29.24	%		-5.11	%
Target Retirement 2010 C#		9/30/05		-25.53	%		-4.43	%
Target Retirement 2010 C##		9/30/05		-26.26	%		-4.43	%
Target Retirement 2010 R3#		9/30/05		-25.21	%		-3.83	%
Target Retirement 2010 R4#		9/30/05		-24.91	%		-3.59	%
Target Retirement 2010 R5#		9/30/05		-24.77	%		-3.47	%
Target Retirement 2010 Y#		9/30/05		-24.87	%		-3.45	%

#	Without sales charge
##	With sales charge
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
(1)	Growth of a $10,000 investment in Classes B, C, R3, R4, R5 and Y shares will vary from results seen above due to differences in the expenses charged to these share classes.
(2)	Class R3, R4 and R5 shares commenced operations on 12/22/06.
	Performance prior to 12/22/06 reflects Class Y performance.
(3)	The initial investment in Class A shares reflects the maximum sales charge and Classes B and C reflect CDSC.
(4)	Total returns presented above were calculated using the Fund’s net asset value available to shareholders for sale or redemption of Fund shares on April 30, 2009, which excludes investment transactions as of this date.

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

Portfolio Managers
Hugh Whelan, CFA	Edward C. Caputo, CFA
Managing Director	Vice President

How did the Fund perform?

The Class A shares of The Hartford Target Retirement 2010 Fund returned 1.18%, before sales charge, for the six-month period ended April 30, 2009. In comparison, its benchmarks, the S&P 500 Index and the Barclays Capital U.S. Aggregate Bond Index, returned -8.53% and 7.74%, respectively, while the average return of the Lipper Mixed-Asset Target 2010 Funds category, a group of funds with investment strategies similar to those of the Fund, was -0.11%.

Why did the Fund perform this way?

The U.S. recession continued to deepen during the six-month period under review. Rising unemployment weighed on personal income and spending, while first quarter industrial production posted the steepest quarterly decline in more than 30 years. However, as the six-month period drew to a close, there were some signs that perhaps the rate of economic decline was beginning to slow. Financial conditions stabilized a bit, while the Federal Reserve’s purchases of long-term Treasuries and mortgage-backed securities also provided strong support for the mortgage market, driving fixed mortgage rates lower. Generally, the Fund’s target asset allocation is set at approximately 56% equities and 44% fixed-income.

This environment initially created another difficult period for stocks, with the S&P 500 Index closing at a new low of 676.53 on March 9, down -29.30% since the start of the 6-month period. However, emergent signs of a slowdown in the economy’s free-fall helped lift the index through the remainder of the period, leaving it down -8.53% for the period. The index

2

was in the black in March and April, gaining 8.76% and 9.57%, respectively, for a gain of 29.38% from March 9 through the end of the period. Declines were widespread across most equity asset classes during the six-month period. Among the eleven equity asset classes in our investment universe, emerging market stocks, EAFE small cap stocks, and U.S. midcap growth stock indices posted positive returns over the 6-month period. U.S. Real-Estate Investment Trusts (REITS) led the way lower during the period, while growth stocks continued to outperform value stocks across all market capitalization levels. International stocks outperformed U.S. stocks.

In fixed income, five and ten year Treasury yields increased during the 6-month period. Within the major sectors of the Barclays Capital U.S. Aggregate Bond Index, investment grade credit was the top performer at 11.47%, while commercial mortgage backed securities (CMBS) were the weakest performer at 1.32%. In the high yield asset classes, high yield bonds and emerging markets debt both outperformed the Barclays Capital U.S. Aggregate Bond Index, while floating rate notes did not. In addition, Treasury Inflation-Protection Securities (TIPS) were the best performing investment grade asset class in our investment universe at 9.46%.

There are two main drivers of the Fund’s performance: asset allocation among various asset classes and performance of the underlying funds. With regard to asset allocation, the Fund maintains relatively fixed exposures to the equity and fixed income markets. Therefore, we seek to add value by strategically allocating within the equity and fixed income investment sub asset classes. Our asset allocation decisions over the period improved the Fund’s performance.

Concerning the Fund’s equity exposure, favorable allocations to emerging market stocks and international small cap stocks helped offset unfavorable allocations to U.S. stocks. By design, the Fund also maintains exposure to various fixed income asset classes to deliver a well diversified portfolio solution. Favorable allocations to TIPS failed to offset the impact of unfavorable allocations to floating rate notes.

Beyond the asset allocation decision, we also seek to add value by selecting the underlying mutual funds that will most effectively deliver the target asset class exposures. We analyze all of the funds in our investment universe, looking through each fund’s objectives and stated benchmark to see what it actually holds and how it behaves. During the period, underlying fund selection detracted from our overall performance.

During the period, the Fund continued to utilize Exchange-Traded Funds (ETFs) to obtain asset class exposures otherwise unavailable through The Hartford family of funds. Specifically, the Fund has target allocations to ETFs that provide U.S. real estate and international real estate exposure, as well as emerging market debt exposure.

Whenever possible, we rely on cash flows to execute our allocation changes. During the period, a hard rebalance (i.e. a fund rebalancing to move the underlying fund investments to their target allocation percentages) was executed to bring the fund allocations closer to their targets. In addition, we have changed the target allocation to stocks and bonds from 58% stock and 42% bond to 56% stock and 44% bond.

What is the outlook?

In fixed income, risk premiums (the additional compensation paid to investors to tolerate the increased level of risk in a given asset class relative to Treasuries) across most asset classes reversed course and began to contract as conditions improved and volatility declined. An onslaught of government policy, from fiscal stimulus to quantitative easing, was the primary catalyst and buyers of historically inexpensive corporate debt emerged as more market participants recognized relative value versus equities. Although risk premiums have come off their historical peak, spreads remain significantly wider (i.e. short and long term interest rates farther apart) than in prior recessions.

In equities the earnings picture is cloudy. First, earnings are falling at near record-breaking rates and all indications are that they will continue to fall. Second, the quality and reliability of the earnings reported is lower than historical standards as the gap between pro forma (“street”) earnings and GAAP (Generally Accepted Accounting Principles) earnings rose in the past several months. Third, there is little clarity in future earnings prospects as the disparity among analyst estimates for future earnings remains at elevated levels. Historically, such consensus building was a precondition to the final, sustained recovery from bear markets associated with recessions.

That said, we believe that investors are well served by adhering to a strategic, diversified portfolio and rebalancing accordingly. We construct these portfolios based upon the long-term properties of asset classes. We look at their long-term returns, volatilities, and correlations between each other and run optimizations to build an optimal portfolio.

Composition by Underlying Fund
as of April 30, 2009

	Percentage of Net
Fund Name	Assets
Powershares Emerging Markets Sovereign Debt Portfolio ETF		0.7	%
SPDR DJ Wilshire International Real Estate ETF		0.7
SPDR DJ Wilshire REIT ETF		0.9
State Street Bank Money Market Fund		0.0
The Hartford Capital Appreciation Fund, Class Y		8.4
The Hartford Capital Appreciation II Fund, Class Y		2.7
The Hartford Disciplined Equity Fund, Class Y		2.6
The Hartford Dividend and Growth Fund, Class Y		4.4
The Hartford Equity Income Fund, Class Y		2.6
The Hartford Floating Rate Fund, Class Y		3.6
The Hartford Fundamental Growth Fund, Class Y		0.8
The Hartford Global Growth Fund, Class Y		1.8
The Hartford Growth Fund, Class Y		3.4
The Hartford Growth Opportunities Fund, Class Y		2.0
The Hartford High Yield Fund, Class Y		4.1
The Hartford Income Fund, Class Y		5.5
The Hartford Inflation Plus Fund, Class Y		9.2
The Hartford International Opportunities Fund, Class Y		5.7
The Hartford International Small Company Fund, Class Y		3.1
The Hartford MidCap Fund, Class Y		2.6
The Hartford Select SmallCap Value Fund, Class Y		0.5
The Hartford Short Duration Fund, Class Y		2.7
The Hartford Small Company Fund, Class Y		2.6
The Hartford Strategic Income Fund, Class Y		4.9
The Hartford Total Return Bond Fund, Class Y		11.8
The Hartford Value Fund, Class Y		12.3
Other Assets and Liabilities		0.4
Total		100.0	%

3

The Hartford Target Retirement 2010 Fund

Schedule of Investments
April 30, 2009 (Unaudited)
(000’s Omitted)

Shares or Principal Amount					Market Value ╪
AFFILIATED INVESTMENT COMPANIES — 97.3%
EQUITY FUNDS — 55.5%
	53	The Hartford Capital Appreciation Fund, Class Y			$	1,311
	47	The Hartford Capital Appreciation II Fund, Class Y •				420
	44	The Hartford Disciplined Equity Fund, Class Y				401
	50	The Hartford Dividend and Growth Fund, Class Y				684
	44	The Hartford Equity Income Fund, Class Y				400
	16	The Hartford Fundamental Growth Fund, Class Y •				120
	26	The Hartford Global Growth Fund, Class Y •				281
	44	The Hartford Growth Fund, Class Y •				528
	17	The Hartford Growth Opportunities Fund, Class Y •				309
	88	The Hartford International Opportunities Fund, Class Y				891
	62	The Hartford International Small Company Fund, Class Y				481
	26	The Hartford MidCap Fund, Class Y •				409
	12	The Hartford Select SmallCap Value Fund, Class Y				80
	31	The Hartford Small Company Fund, Class Y •				412
	239	The Hartford Value Fund, Class Y				1,924
		Total equity funds (cost $10,686)			$	8,651
FIXED INCOME FUNDS — 41.8%
	77	The Hartford Floating Rate Fund, Class Y			$	559
	113	The Hartford High Yield Fund, Class Y				645
	100	The Hartford Income Fund, Class Y				859
	134	The Hartford Inflation Plus Fund, Class Y				1,433
	47	The Hartford Short Duration Fund, Class Y				427
	99	The Hartford Strategic Income Fund, Class Y				764
	192	The Hartford Total Return Bond Fund, Class Y				1,845
		Total fixed income funds (cost $6,867)			$	6,532
		Total investments in affiliated investment companies (cost $17,553)			$	15,183
EXCHANGE TRADED FUNDS — 2.3%
	4	Powershares Emerging Markets Sovereign Debt Portfolio ETF			$	102
	4	SPDR DJ Wilshire International Real Estate ETF				111
	4	SPDR DJ Wilshire REIT ETF				142
		Total exchange traded funds (cost $549)			$	355
		Total long-term investments (cost $18,102)			$	15,538
SHORT-TERM INVESTMENTS — 0.0%
	1	State Street Bank Money Market Fund			$	1
		Total short-term investments (cost $1)			$	1
		Total investments (cost $18,103) ▲	99 .6	%	$	15,539
		Other assets and liabilities	0 .4	%		63
		Total net assets	100.0	%	$	15,602

Note:	Percentage of investments as shown is the ratio of the total market value to total net assets.
▲	At April 30, 2009, the cost of securities for federal income tax purposes was $18,302 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	174
Unrealized Depreciation		(2,937	)
Net Unrealized Depreciation	$	(2,763	)

•	Currently non-income producing.
╪	See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of securities.

FAS 157 Disclosure of Investment Valuation Hierarchy Levels

Assets:
Investment in securities — Level 1	$	15,539
Total	$	15,539

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

4

The Hartford Target Retirement 2010 Fund

Statement of Assets and Liabilities
April 30, 2009 (Unaudited)
(000’s Omitted)

Assets:
Investments in securities, at fair value (cost $550)	$	356
Investments in underlying affiliated funds, at fair value (cost $17,553)		15,183
Receivables:
Investment securities sold		9
Fund shares sold		4
Dividends and interest		21
Other assets		48
Total assets		15,621
Liabilities:
Payables:
Fund shares redeemed		14
Investment management fees		—
Distribution fees		1
Accrued expenses		4
Total liabilities		19
Net assets	$	15,602
Summary of Net Assets:
Capital stock and paid-in-capital		20,736
Accumulated undistributed net investment income		93
Accumulated net realized loss on investments		(2,663	)
Unrealized depreciation of investments		(2,564	)
Net assets	$	15,602
Shares authorized		950,000
Par value	$	0.001
Class A: Net asset value per share/Maximum offering price per share	$	7.20/$7.61
Shares outstanding		919
Net assets	$	6,614
Class B: Net asset value per share	$	7.17
Shares outstanding		55
Net assets	$	392
Class C: Net asset value per share	$	7.17
Shares outstanding		74
Net assets	$	532
Class R3: Net asset value per share	$	7.18
Shares outstanding		17
Net assets	$	125
Class R4: Net asset value per share	$	7.20
Shares outstanding		904
Net assets	$	6,510
Class R5: Net asset value per share	$	7.20
Shares outstanding		183
Net assets	$	1,317
Class Y: Net asset value per share	$	7.19
Shares outstanding		16
Net assets	$	112

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

5

The Hartford Target Retirement 2010 Fund

Statement of Operations
For the Six Month Period Ended April 30, 2009 (Unaudited)
(000’s Omitted)

Investment Income:
Dividends	$	6
Dividends from underlying affiliated funds		271
Total investment income		277
Expenses:
Investment management fees		11
Transfer agent fees		3
Distribution fees
Class A		8
Class B		2
Class C		3
Class R3		—
Class R4		6
Custodian fees		—
Accounting services		1
Registration and filing fees		32
Board of Directors’ fees		1
Audit fees		3
Other expenses		9
Total expenses (before waivers)		79
Expense waivers		(64	)
Total waivers		(64	)
Total expenses, net		15
Net investment income		262
Net Realized Loss on Investments:
Net realized loss on investments in underlying affiliated funds		(1,546	)
Net Realized Loss on Investments		(1,546	)
Net Changes in Unrealized Appreciation of Investments:
Net unrealized appreciation of investments		1,496
Net Changes in Unrealized Appreciation of Investments		1,496
Net Loss on Investments		(50	)
Net Increase in Net Assets Resulting from Operations	$	212

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

6

The Hartford Target Retirement 2010 Fund

Statement of Changes in Net Assets

(000’s Omitted)

	For the Six-Month
	Period Ended			For the
	April 30, 2009			Year Ended
	(Unaudited)			October 31, 2008
Operations:
Net investment income	$	262		$	358
Net realized loss on investments		(1,546	)		(946	)
Net unrealized appreciation (depreciation) of investments		1,496			(4,566	)
Net increase (decrease) in net assets resulting from operations		212			(5,154	)
Distributions to Shareholders:
From net investment income
Class A		(101	)		(343	)
Class B		(5	)		(20	)
Class C		(9	)		(18	)
Class R3		(2	)		—
Class R4		(81	)		(89	)
Class R5		(17	)		(22	)
Class Y		(2	)		(6	)
From net realized gain on investments
Class A		—			(154	)
Class B		—			(10	)
Class C		—			(15	)
Class R4		—			(9	)
Class Y		—			(3	)
Total distributions		(217	)		(689	)
Capital Share Transactions:
Class A		204			2,108
Class B		(12	)		95
Class C		(49	)		82
Class R3		111			1
Class R4		1,584			6,073
Class R5		175			1,626
Class Y		2			10
Net increase from capital share transactions		2,015			9,995
Net increase in net assets		2,010			4,152
Net Assets:
Beginning of period		13,592			9,440
End of period	$	15,602		$	13,592
Accumulated undistributed net investment income	$	93		$	48

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

7

The Hartford Target Retirement 2010 Fund

Notes to Financial Statements
April 30, 2009 (Unaudited)
(000’s Omitted)

1.	Organization:
	The Hartford Mutual Funds, Inc. (“Company”) is an open-end management investment company comprised of fifty-two portfolios. Financial statements for The Hartford Target Retirement 2010 Fund (the “Fund”), a series of the Company, are included in this report.
	The Company is organized under the laws of the State of Maryland and is registered with the Securities and Exchange Commission (“SEC”) under the Investment Company Act of 1940, as amended (“1940 Act”). The Fund is a diversified open-end management investment company.
	Class A shares are sold with a front-end sales charge of up to 5.50%. Class B shares are sold with a contingent deferred sales charge which is assessed on the lesser of the per share net asset value (“NAV”) of the shares at the time of redemption or the original purchase price, and declines from up to 5.00% to zero depending on the period of time the shares are held. Class C shares are sold with a contingent deferred sales charge of up to 1.00% on shares redeemed within twelve months of purchase. Classes R3, R4, R5 shares, which are offered to employer-sponsored retirement plans, and Class Y shares, which are sold to certain eligible institutional investors, are sold without a sales charge. All classes of shares have identical voting, redemption, dividend, liquidation and other rights and the same terms and conditions, with the exceptions that each class may have different expenses, which may affect performance, and except that Class B shares automatically convert to Class A shares after 8 years.
	The Fund, as a “Fund of Funds”, invests the majority of its assets in Class Y shares of other Hartford mutual funds (“Underlying Funds”) as well as certain exchange-traded funds (“ETFs”). The Fund seeks its investment goals through implementation of a strategic asset allocation recommendation provided by Hartford Investment Management Company (“Hartford Investment Management”), a wholly-owned indirect subsidiary of The Hartford Financial Services Group, Inc. (“The Hartford”).
2.	Significant Accounting Policies:
	The accounting policies of the affiliated underlying funds are outlined in the shareholder reports for such funds, available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov. The reports may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330. The affiliated Underlying Funds are not covered by this report.
	The following is a summary of significant accounting policies of the Fund, which are in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”).

a)	Security Transactions and Investment Income - Security transactions are recorded on the trade date (the date the order to buy or sell is executed). Security gains and losses are determined on the basis of identified cost.
	Dividend income is accrued as of the ex-dividend date. Income and capital gain distributions from Underlying Funds are recorded on the ex-dividend date.
b)	Security Valuation - Investments in open-end mutual funds are valued at the respective NAV of each open-end mutual fund on the valuation date.
	The Fund generally uses market prices in valuing portfolio securities. If market prices are not readily available or are deemed unreliable, the Fund will use the fair value of the security as determined in good faith under policies and procedures established by and under the supervision of the Fund’s Board of Directors. Market prices may be deemed unreliable, for example, if a security is thinly traded or if an event has occurred after the close of the security’s primary

8

markets, but before the close of the New York Stock Exchange (the “Exchange”) (normally 4:00 p.m. Eastern Time, referred to as the “Valuation Time”) that is expected to affect the value of the portfolio security. The circumstances in which the Fund may use fair value pricing include, among others: (i) the occurrence of events that are significant to a particular issuer, such as mergers, restructuring or defaults; (ii) the occurrence of events that are significant to an entire market, such as natural disasters in a particular region or governmental actions; (iii) trading restrictions on securities; (iv) thinly traded securities and (v) market events such as trading halts and early market closings. In addition, with respect to the valuation of stocks primarily traded on foreign markets, the Fund uses a fair value pricing service approved by the Fund’s Board of Directors, which employs quantitative models that evaluate changes in the value of foreign market proxies (e.g., futures contracts, ADR’s, exchange traded funds (“ETF’s”)) after the close of the foreign markets but before the close of the Exchange. Securities that are primarily traded on foreign markets may trade on days that are not business days of the Fund. The value of the foreign securities in which the Fund invests may change on days when a shareholder will not be able to purchase or redeem shares of the Fund. Fair value pricing is subjective in nature and the use of fair value pricing by the Fund may cause the NAV of its shares to differ significantly from the NAV that would have been calculated using market prices at the close of the exchange on which a portfolio security is primarily traded but before the close of the Exchange. There can be no assurance that the Fund could obtain the fair value assigned to a security if the Fund were to sell the security at approximately the time at which the Fund determines its NAV.

Debt securities (other than short-term obligations and senior floating rate interests) held by the Fund are valued on the basis of valuations furnished by an independent pricing service which determines valuations for normal institutional size trading units of debt securities. Senior floating rate interests generally trade in over-the-counter markets and are priced through an independent pricing service utilizing independent market quotations from loan dealers or financial institutions. Securities for which prices are not available from an independent pricing service are valued using market quotations obtained from one or more dealers that make markets in the securities in accordance with procedures established by the Fund’s Board of Directors. Generally, the Fund may use fair valuation in regard to debt securities when the Fund holds defaulted or distressed securities or securities in a company in which a reorganization is pending. Short-term investments with a maturity of more than 60 days when purchased are valued based on market quotations until the remaining days to maturity become less than 61 days. Investments that mature in 60 days or less are valued at amortized cost, which approximates market value.

Exchange traded equity securities shall be valued at the last reported sale price on the exchange or market on which the security is primarily traded (the “Primary Market”) at the Valuation Time. If the security did not trade on the Primary Market, it may be valued at the Valuation Time at the last reported sale price on another exchange where it trades. The value of an equity security not traded on any exchange but traded on the Nasdaq Stock Market, Inc. (“Nasdaq”) or another over-the-counter market shall be valued at the last reported sale price or official closing price on the exchange or market on which the security is traded as of the Valuation Time. If it is not possible to determine the last reported sale price or official closing price on the relevant exchange or market at the Valuation Time, the value of the security shall be taken to be the most recent mean between bid and asked prices on such exchange or market at the Valuation Time.

Securities of foreign issuers and non-dollar securities are translated from the local currency into U.S. dollars using prevailing exchange rates.

Options contracts on securities, currencies, indexes, futures contracts, commodities and other instruments shall be valued at their most recent sales price at the Valuation Time on the Primary Market on which the instrument is primarily traded. If the instrument did not trade on the Primary Market, it may be valued at the most recent sales price at the Valuation Time on another exchange or market where it did trade.

Futures contracts are valued at the most recent settlement price reported by an exchange on which, over time, they are traded most extensively. If a settlement price is not available, futures contracts will be valued at the most recent trade price as of the Valuation Time. If there were no trades, the contract shall be valued at the mean of the closing bid/ask prices as of the Valuation Time.

9

The Hartford Target Retirement 2010 Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

	Financial instruments for which prices are not available from an independent pricing service are valued using market quotations obtained from one or more dealers that make markets in securities in accordance with procedures established by the Fund’s Board of Directors.
	A forward currency contract shall be valued based on the price of the underlying currency at the prevailing interpolated exchange rate, which is a combination of the spot currency rate and the forward currency rate. Spot currency rates and forward currency rates are obtained from an independent pricing service on a daily basis not more than one hour before the Valuation Time.
	Swaps are valued based on custom valuations furnished by an independent pricing service. Swaps for which prices are not available from an independent pricing service are valued in accordance with procedures established by the Fund’s Board of Directors.
	Other derivative or contractual type instruments shall be valued using market prices if such instruments trade on an exchange or market. If such instruments do not trade on an exchange or market, such instruments shall be valued at a price at which the counterparty to such contract would repurchase the instrument. In the event that the counterparty cannot provide a price, such valuation may be determined in accordance with procedures established by the Fund’s Board of Directors.
c)	Indexed Securities - The Fund may invest in indexed securities whose values are linked to changes in interest rates, indices, or other underlying instruments. The Fund uses these securities to increase or decrease its exposure to different underlying instruments and to gain exposure to markets that might be difficult to invest in using conventional securities. Indexed securities may be more volatile than their underlying instruments, but any loss is limited to the amount of the original investment and there may be a limit to the potential appreciation of the investment. The Fund had investments in indexed securities as of April 30, 2009, as shown on the Schedule of Investments under Exchange Traded Funds.
d)	Fund Share Valuation and Dividend Distributions to Shareholders — Orders for the Fund’s shares are executed in accordance with the investment instructions of the shareholders. The NAV of the Fund’s shares is determined as of the close of each business day of the Exchange. The NAV is determined separately for each class of the Fund by dividing the Fund’s net assets attributable to that class by the number of shares of the class outstanding. Orders for the purchase of the Fund’s shares prior to the close of the Exchange on any day on which the Exchange is open for business are priced at the NAV determined as of the close of the Exchange. Orders after the close of the Exchange, or on a day on which the Exchange and/or the Fund is not open for business, are priced at the next determined NAV.
	The Fund intends to distribute substantially all of its net investment income and net realized capital gains to shareholders no less frequently than once a year. Normally, dividends from net investment income of the Fund are declared and paid annually. Dividends are paid on shares beginning on the business day after the day when the funds used to purchase the shares are collected by the transfer agent for the Fund. Long-term capital gains distributions received from underlying funds are distributed at least annually, when required. Unless shareholders specify otherwise, all dividends and distributions will be automatically reinvested in additional full or fractional shares of the Fund.
	Distributions from net investment income, realized capital gains and capital are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP with respect to character and timing. These differences include but are not limited to foreign currency gains and losses, losses deferred due to wash sales adjustments, adjustments related to Passive Foreign Investment Companies and certain derivatives, and excise tax regulations. Permanent book and federal income tax basis differences relating to shareholder distributions will result in reclassifications to certain of the Fund’s capital accounts (see Federal Income Taxes: Reclassification of Capital Accounts footnote).
e)	Use of Estimates — The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial

10

	statements and the reported amounts of income and expenses during the period. Operating results in the future could vary from the amounts derived from management’s estimates.
f)	Financial Accounting Standards Board Financial Accounting Standards No. 157 - Effective November 1, 2008, the Fund adopted Financial Accounting Standards Board (“FASB”) Statement of Financial Accounting Standards No. 157, “Fair Value Measurements” (“FAS 157”). This standard clarifies the definition of fair value for financial reporting, establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements. Fair value is defined under FAS 157 as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Under FAS 157, a fair value measurement should reflect all of the assumptions that market participants would use in pricing the asset or liability, including assumptions about the risk inherent in a particular valuation technique, the effect of a restriction on the sale or use of an asset, and the risk of nonperformance.
	Various inputs are used in determining the value of the Fund’s investment. These inputs are summarized, per FAS 157, into three broad hierarchy levels. This hierarchy is based on whether the valuation inputs are observable or unobservable. These levels are:

• Level 1 — Quoted prices in active markets for identical securities. Level 1 includes exchange-traded instruments such as domestic equities, some foreign equities, options, futures, mutual funds, ETF’s, and rights and warrants.

• Level 2 — Observable inputs other than Level 1 prices, such as quoted prices for similar securities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the security. Level 2 includes debt securities that are traded less frequently than exchange-traded instruments and that are valued using third party pricing services and foreign equities, whose value is determined using a multi-factor regression model with inputs that are observable in the market; and money market instruments, which are carried at amortized cost.

• Level 3 — Significant unobservable inputs that are supported by little or no market activity. Level 3 includes financial instruments whose values are determined using broker quotes and require significant management judgment or estimation. This category includes broker quoted securities, long dated OTC options and securities where trading has been halted or there are certain restrictions on trading. While these securities are priced using unobservable inputs, the valuation of these securities reflects the best available data and management believes the prices are a good representation of exit price.

	Individual securities within any of the above mentioned asset classes may be assigned a different hierarchical level than those presented above, as individual circumstances dictate.
	FAS 157 also requires that a roll forward reconciliation be shown for all Level 3 securities from the beginning of the reporting period to the end of the reporting period. Part of this reconciliation includes transfers in and/or out of Level 3. For purposes of this reconciliation, transfers in are shown at the end of period fair value and transfers out are shown at the beginning of period fair value. During the six-month period ended April 30, 2009, the Fund held no Level 3 securities.
	FASB Staff Position No. 157-4 - In April 2009, FASB released FASB Staff Position No. 157-4, “Determining Fair Value When the Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly” (“FSP FAS 157-4”). FSP FAS 157-4 provides additional guidance on determining whether a market for a financial asset is not active and a transaction is not distressed when measuring fair value under FAS 157. The FSP also requires additional disclosure detail on debt and equity securities by major investment categories. FSP FAS 157-4 is effective for interim and annual periods ending after June 15, 2009. At this time, management is evaluating the implications of FSP FAS 157-4 and does not believe it will impact valuation but will require additional disclosure. This additional disclosure has not yet been implemented.
g)	Financial Accounting Standards Board Financial Accounting Standards No. 161 - In March 2008, the FASB released Statement of Financial Accounting Standards No. 161, “Disclosures about Derivative Instruments and Hedging

11

The Hartford Target Retirement 2010 Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

Activities” (“FAS 161”). FAS 161 requires companies to disclose information detailing the objectives and strategies for using derivative instruments, the level of derivative activity entered into by the company and any credit risk-related contingent features of the agreements. The application of FAS 161 is required for fiscal years and interim periods beginning after November 15, 2008. At this time, management is evaluating the implications of FAS 161 and has not yet implemented the new disclosure standard.

h)

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

3. Federal Income Taxes:

a)

Federal Income Taxes - For federal income tax purposes, the Fund intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code (“IRC”) by distributing substantially all of its taxable net investment income and net realized capital gains to its shareholders and otherwise complying with the requirements of regulated investment companies. The Fund has distributed substantially all of its income and capital gains in prior years and the Fund intends to distribute substantially all of its income and gains during the calendar year ending December 31, 2009. Accordingly, no provision for federal income or excise taxes has been made in the accompanying financial statements. Distributions from short-term capital gains are treated as ordinary income distributions for federal income tax purposes.

b)

The tax character of distributions paid by the Fund for the periods indicated is as follows (as adjusted for dividends payable):

	For the Year Ended		For the Year Ended
	October 31, 2008		October 31, 2007
Ordinary Income	$	607	$	148
Long-Term Capital Gains *		82		—

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

As of October 31, 2008, the Fund’s components of distributable earnings (deficit) on a tax basis were as follows:

	Amount
Undistributed Ordinary Income	$	47
Accumulated Capital Losses*	$	(918	)
Unrealized Depreciation†	$	(4,258	)
Total Accumulated Deficit	$	(5,129	)

*	The Fund has capital loss carryforwards that are identified in the Capital Loss Carryforward note that follows.
†	The differences between book-basis and tax-basis unrealized appreciation (depreciation) are attributable to the tax deferral of wash sales losses, the mark-to-market adjustment for certain derivatives in accordance with IRC Sec. 1256, the mark to market for Passive Foreign Investment Companies and basis differences in real estate investment trusts.

c) Reclassification of Capital Accounts - In accordance with American Institute of Certified Public Accountants (AICPA) Statement of Position 93-2, Determination, Disclosure, and Financial Statement Presentation of Income, Capital Gain, and Return of Capital Distributions by Investment Companies, the Fund has recorded reclassifications in its capital

12

accounts. These reclassifications had no impact on the NAV of the Fund. The reclassifications are a result of permanent differences between GAAP and tax accounting for such items as net operating losses that reduce distribution requirements. Adjustments are made to reflect the impact these items have on current and future distributions to shareholders. Therefore, the source of the Fund’s distributions may be shown in the accompanying Statement of Changes in Net Assets as from net investment income, from net realized gains on investments or from capital depending on the type of book and tax differences that exist. As of October 31, 2008, the Fund recorded reclassifications to increase undistributed net investment income by $168 and decrease accumulated net realized loss by $168.

d) Capital Loss Carryforward - At October 31, 2008 (tax-year-end), the Fund had capital loss carryforwards for U.S. federal income tax purposes of approximately:

Year	Amount
2016	$	918
Total	$	918

e) Financial Accounting Standards Board Interpretation No. 48 - On July 13, 2006, the FASB released FASB Interpretation No. 48 “Accounting for Uncertainty in Income Taxes” (“FIN 48”). FIN 48 provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. The Fund adopted FIN 48 for fiscal years beginning after December 15, 2006. Management has evaluated the implications of FIN 48 for all open tax years (tax years ended October 31, 2006 — 2008) and has determined there is no impact to the Fund’s financial statements.

4. Expenses:

a)

Investment Management Agreements - Hartford Investment Financial Services, LLC (“HIFSCO”) serves as investment manager to the Fund pursuant to an Investment Management Agreement with The Hartford Mutual Funds, Inc. As investment manager, HIFSCO has overall investment supervisory responsibility for the Fund. In addition, HIFSCO provides administrative personnel, services, equipment, facilities and office space for proper operation of the Fund. HIFSCO has contracted with Hartford Investment Management for the provision of day-to-day investment management services to the Fund in accordance with the Fund’s investment objective and policies. The Fund pays a fee to HIFSCO, a portion of which may be used to compensate Hartford Investment Management.

The schedule below reflects the rates of compensation paid to HIFSCO for investment management services rendered during the six-month period ended April 30, 2009; the rates are accrued daily and paid monthly:

Average Daily Net Assets	Annual Fee
On first $500 million		0.15	%
On next $4.5 billion		0.10	%
On next $5 billion		0.08	%
Over $10 billion		0.07	%

b) Accounting Services Agreement - Pursuant to the Fund Accounting Agreement between Hartford Life Insurance Company (“HLIC”) and the Fund, HLIC provides accounting services to the Fund and receives monthly compensation on the Fund’s average net assets. The Fund’s accounting service fees are accrued daily and paid monthly.

Average Daily Net Assets	Annual Fee
On first $5 billion		0.012	%
Over $5 billion		0.010	%

c) Operating Expenses - Allocable expenses incurred by the Company are allocated to each Fund and allocated to classes within the Fund in proportion to the average daily net assets of the Fund and each class, except where allocation of certain expenses is more fairly made directly to the Fund or to specific classes within a Fund. During the six-month

13

The Hartford Target Retirement 2010 Fund

Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

period ended April 30, 2009, HIFSCO has contractually limited the total operating expenses of this Fund, exclusive of taxes, interest expense, brokerage commissions, certain distribution expenses and extraordinary expenses as follows:

Class A	Class B	Class C	Class R3	Class R4	Class R5	Class Y
1.00%	1.75%	1.75%	1.15%	0.85%	0.80%	0.80%

	Voluntary limitations for total operating expenses include expenses incurred as the result of investing in other investment companies. Amounts incurred which exceed the above limits are deducted from expenses and are reported as waivers on the accompanying Statement of Operations.
d)	Distribution and Service Plan for Class A, B, C, R3 and R4 Shares - HIFSCO is the principal underwriter and distributor of the Fund. HIFSCO is engaged in distribution activities, which include marketing and distribution of shares through broker-dealers, financing distribution costs and maintaining financial books and records. For the six-month period ended April 30, 2009, HIFSCO received front-end load sales charges of $8 and contingent deferred sales charges of $2 from the Fund.
	The Fund has adopted Distribution and Service Plans in accordance with Rule 12b-1 of the Investment Company Act of 1940, as amended, to compensate the distributor (HIFSCO) for activities intended to result in the sale and distribution of Classes A, B, C, R3 and R4 shares and for providing services for shareholders. The Rule 12b-1 plan applicable to Class A shares of the Funds provides for payment of a Rule 12b-1 fee of up to 0.35% of average daily net assets; however, the Board of Directors has currently authorized 12b-1 payments of only up to 0.25%. Some or all of the fee may be used for shareholder servicing expenses with the remainder used for distribution expenses. Some or the entire Rule 12b-1 fee for Class B shares may be remitted to broker-dealers for distribution and/or shareholder account services. Under the Class B Plan, the Fund pays the Distributor 1.00% of the average daily net assets of Class B shares that are outstanding for 8 years or less, 0.25% of which is a fee for services provided to existing shareholders with the remainder used for distribution expenses. After eight years, Class B shares convert to Class A shares. Upon conversion to Class A shares, the Class A plan described above will apply to those shares. Under the Class C Plan, the Fund pays the Distributor 1.00% of the average daily net assets of Class C shares outstanding, 0.25% of which is intended as a fee for services provided to existing shareholders with the remainder used for distribution expenses. For Class C shares, some or the entire fee may be remitted to broker-dealers for distribution and/or shareholder account services. Class R3 shares have a distribution fee of 0.50% and Class R4 shares have a distribution fee of 0.25%. For Classes R3 and R4 shares, some or the entire fee may be remitted to broker dealers for distribution and/or shareholder account services. The Fund’s 12b-1 fees are accrued daily and paid monthly.
	For the six-month period ended April 30, 2009, total sales commissions paid to affiliated brokers/dealers of The Hartford for distributing the Fund’s shares rounds to zero. These commissions are in turn paid to sales representatives of the broker/dealers.
e)	Other Related Party Transactions - Certain officers of the Fund are directors and/or officers of HIFSCO and/or The Hartford or its subsidiaries. For the six-month period ended April 30, 2009, a portion of the Fund’s chief compliance officer’s salary was paid by the Fund in an amount, which rounds to zero. Hartford Administrative Services Company (“HASCO”), an indirect wholly owned subsidiary of The Hartford, provides transfer agent services to the Fund. HASCO was compensated $3 for providing such services. These fees are accrued daily and paid monthly.

5. Affiliate Holdings:

As of April 30, 2009, affiliates of The Hartford had ownership of shares in the Fund as follows:

	Shares
Class B		15
Class C		15
Class R3		1
Class Y		16

14

6.	Investment Transactions:
	For the six-month period ended April 30, 2009, the Fund’s aggregate purchases and sales of investment securities (excluding short-term investments) were as follows:

	Amount
Cost of Purchases Excluding U.S. Government Obligations	$	5,441
Sales Proceeds Excluding U.S. Government Obligations		3,364

7.	Capital Share Transactions:
	The following information is for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	For the Six-Month Period Ended April 30, 2009												For the Year Ended October 31, 2008
			Shares					Shares							Shares					Shares
			Issued for					Issued		Net Increase					Issued for					Issued		Net Increase
	Shares		Reinvested		Shares			from		(Decrease) of			Shares		Reinvested		Shares			from		(Decrease) of
	Sold		Dividends		Redeemed			Merger		Shares			Sold		Dividends		Redeemed			Merger		Shares
Class A
Shares		311		15		(308	)		—		18			544		50		(401	)		—		193
Amount	$	2,112	$	100	$	(2,008	)	$	—	$	204		$	5,204	$	496	$	(3,592	)	$	—	$	2,108
Class B
Shares		2		1		(4	)		—		(1	)		24		3		(21	)		—		6
Amount	$	13	$	3	$	(28	)	$	—	$	(12	)	$	235	$	31	$	(171	)	$	—	$	95
Class C
Shares		23		1		(32	)		—		(8	)		47		3		(38	)		—		12
Amount	$	153	$	8	$	(210	)	$	—	$	(49	)	$	420	$	32	$	(370	)	$	—	$	82
Class R3
Shares		16		—		—			—		16			—		—		—			—		—
Amount	$	110	$	2	$	(1	)	$	—	$	111		$	—	$	1	$	—		$	—	$	1
Class R4
Shares		303		12		(78	)		—		237			780		11		(165	)		—		626
Amount	$	2,038	$	81	$	(535	)	$	—	$	1,584		$	7,414	$	98	$	(1,439	)	$	—	$	6,073
Class R5
Shares		62		3		(38	)		—		27			232		2		(79	)		—		155
Amount	$	416	$	17	$	(258	)	$	—	$	175		$	2,189	$	23	$	(586	)	$	—	$	1,626
Class Y
Shares		—		1		—			—		1			—		1		—			—		1
Amount	$	—	$	2	$	—		$	—	$	2		$	—	$	10	$	—		$	—	$	10

The following reflects the conversion of Class B Shares into Class A Shares (reflected as Class A Shares issued and Class B shares redeemed) for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	Shares	Dollars
For the Six-Month Period Ended April 30, 2009	—	$	1
For the Year Ended October 31, 2008	—	$	5

8.

Line of Credit:

The Fund is one of several Hartford Funds that participate in a $500 million committed revolving line of credit facility. The facility is to be used for temporary or emergency purposes. Under the arrangement, the Fund is required to own securities having a market value in excess of 300% of the total bank borrowings. The interest rate on borrowings varies depending on the nature of the loan. The facility also requires a fee to be paid based on the amount of the commitment. During the six-month period ended April 30, 2009, the Fund did not have any borrowings under this facility.

15

The Hartford Target Retirement 2010 Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

9.	Proposed Reclassifications:
	At a meeting held on February 4, 2009, the Board of Directors of the Fund approved a transaction under which Class B shares and Class C shares of the Fund would become Class A shares of the Fund. Following the transaction, each shareholder owning Class B shares will own Class A shares equal to the aggregate value of their Class B shares and each shareholder owning Class C shares will own Class A shares equal to the aggregate value of their Class C shares (the “Reclassification”).
	Effective February 13, 2009, Class B shares and Class C shares of the Fund are no longer sold to new investors or existing shareholders (except through reinvested dividends) nor are they eligible for exchanges from other Hartford Mutual Funds.
	Shareholders of Class B and Class C shares are required to approve the Reclassifications. The Board of Directors of the Fund has called for a Special Joint Meeting of Shareholders of the Funds to be held on or about July 16, 2009, for the purpose of seeking the approval of the Reclassifications by the Class B and Class C shareholders of the Fund.
	If the Reclassifications are approved, sales charges will not be charged shareholders of Class B and Class C shares; contingent deferred sales charges for Class B and Class C shares will be waived; and distribution and service (12b-1) fees on shares classified as Class B and Class C shares before the Reclassifications will be reduced from 1.00% to 0.25% after the Reclassifications.

16

The Hartford Target Retirement 2010 Fund

Financial Highlights — (Unaudited)

	— Selected Per-Share Data — (a)																														— Ratios and Supplemental Data —
																																			Ratio of			Ratio of			Ratio of
																																			Expenses			Expenses			Expenses
																																			to Average			to Average			to Average
																																			Net Assets			Net Assets			Net Assets
																																			Before			After			After
							Net																												Waivers			Waivers			Waivers
							Realized																												and			and			and			Ratio of
							and Un-									Distrib-									Net										Reimburse-			Reimburse-			Reimburse-			Net
			Net		Pay-		realized						Dividends			utions									Increase			Net					Net		ments and			ments and			ments and			Invest-			Port-
	Net Asset		Invest-		ments		Gain						from Net			from			Distri-						(Decrease)			Asset					Assets at		Including			Including			Excluding			ment			folio
	Value at		ment		from		(Loss) on			Total from			Invest-			Realized			butions			Total			in Net			Value at					End of		Expenses			Expenses			Expenses			Income to			Turn-
	Beginning		Income		(to)		Invest-			Investment			ment			Capital			from			Distri-			Asset			End of		Total			Period		not Subject			not Subject			not Subject			Average			over
Class	of Period		(Loss)		Affiliate		ments			Operations			Income			Gains			Capital			butions			Value			Period		Return(b)			(000’s)		to Cap(c)			to Cap(c)			to Cap(c)			Net Assets			Rate(d)
For the Six-Month Period Ended April 30, 2009 (Unaudited)
A	$	7.24	$	0.13	$	—	$	(0.06	)	$	0.07		$	(0.11	)	$	—		$	—		$	(0.11	)	$	(0.04	)	$	7.20		1 .18	%(e)	$	6,614		1 .04	%(f)		0 .23	%(f)		0 .23	%(f)		3 .73	%(f)		24	%
B		7.22		0.10		—		(0.06	)		0.04			(0.09	)		—			—			(0.09	)		(0.05	)		7.17		0 .70	(e)		392		1 .97	(f)		0 .98	(f)		0 .98	(f)		3 .08	(f)		—
C		7.23		0.10		—		(0.06	)		0.04			(0.10	)		—			—			(0.10	)		(0.06	)		7.17		0 .74	(e)		532		1 .96	(f)		0 .98	(f)		0 .98	(f)		3 .19	(f)		—
R3		7.23		0.08		—		(0.02	)		0.06			(0.11	)		—			—			(0.11	)		(0.05	)		7.18		0 .96	(e)		125		1 .51	(f)		0 .38	(f)		0 .38	(f)		3 .93	(f)		—
R4		7.23		0.13		—		(0.05	)		0.08			(0.11	)		—			—			(0.11	)		(0.03	)		7.20		1 .17	(e)		6,510		1 .14	(f)		0 .08	(f)		0 .08	(f)		3 .92	(f)		—
R5		7.24		0.14		—		(0.07	)		0.07			(0.11	)		—			—			(0.11	)		(0.04	)		7.20		1 .23	(e)		1,317		0 .85	(f)		0 .03	(f)		0 .03	(f)		3 .84	(f)		—
Y		7.23		0.13		—		(0.06	)		0.07			(0.11	)		—			—			(0.11	)		(0.04	)		7.19		1 .13	(e)		112		0 .75	(f)		0 .03	(f)		0 .03	(f)		3 .98	(f)		—
For the Year Ended October 31, 2008
A		10.66		0.30		—		(3.10	)		(2.80	)		(0.41	)		(0.21	)		—			(0.62	)		(3.42	)		7.24		(27.74	)		6,520		1.02			0.42			0.42			2.87			68
B		10.64		0.18		—		(3.06	)		(2.88	)		(0.33	)		(0.21	)		—			(0.54	)		(3.42	)		7.22		(28.36	)		406		1.88			1.25			1.25			1.83			—
C		10.64		0.28		—		(3.16	)		(2.88	)		(0.32	)		(0.21	)		—			(0.53	)		(3.41	)		7.23		(28.31	)		593		1.93			1.25			1.25			2.39			—
R3		10.66		0.26		—		(3.11	)		(2.85	)		(0.37	)		(0.21	)		—			(0.58	)		(3.43	)		7.23		(28.14	)		8		1.47			0.87			0.87			2.70			—
R4		10.66		0.36		—		(3.17	)		(2.81	)		(0.41	)		(0.21	)		—			(0.62	)		(3.43	)		7.23		(27.84	)		4,823		1.04			0.45			0.45			1.67			—
R5		10.67		0.37		—		(3.16	)		(2.79	)		(0.43	)		(0.21	)		—			(0.64	)		(3.43	)		7.24		(27.64	)		1,131		0.71			0.11			0.11			1.86			—
Y		10.66		0.33		—		(3.11	)		(2.78	)		(0.44	)		(0.21	)		—			(0.65	)		(3.43	)		7.23		(27.60	)		111		0.76			0.16			0.16			3.40			—
For the Year Ended October 31, 2007
A		9.65		0.28		—		1.01			1.29			(0.28	)		—			—			(0.28	)		1.01			10.66		13.55			7,547		1.81			0.50			0.50			2.46			56
B		9.65		0.21		—		0.99			1.20			(0.21	)		—			—			(0.21	)		0.99			10.64		12.61			533		2.66			1.25			1.25			1.91			—
C		9.64		0.21		—		1.00			1.21			(0.21	)		—			—			(0.21	)		1.00			10.64		12.68			743		2.59			1.25			1.25			2.08			—
R3(g)		9.76		0.14		—		0.89			1.03			(0.13	)		—			—			(0.13	)		0.90			10.66		10 .56	(e)		11		2 .32	(f)		0 .90	(f)		0 .90	(f)		1 .62	(f)		—
R4(h)		9.76		0.16		—		0.89			1.05			(0.15	)		—			—			(0.15	)		0.90			10.66		10 .88	(e)		442		1 .97	(f)		0 .60	(f)		0 .60	(f)		2 .03	(f)		—
R5(i)		9.76		0.19		—		0.89			1.08			(0.17	)		—			—			(0.17	)		0.91			10.67		11 .15	(e)		11		1 .72	(f)		0 .30	(f)		0 .30	(f)		2 .23	(f)		—
Y		9.65		0.32		—		0.99			1.31			(0.30	)		—			—			(0.30	)		1.01			10.66		13.83			153		1.54			0.20			0.20			3.21			—
For the Year Ended October 31, 2006
A		9.82		0.47		—		0.22			0.69			(0.50	)		—			(0.36	)		(0.86	)		(0.17	)		9.65		7.43			1,618		8.32			0.54			0.54			2.01			10
B		9.82		0.34		—		0.27			0.61			(0.42	)		—			(0.36	)		(0.78	)		(0.17	)		9.65		6.58			226		9.17			1.29			1.29			1.24			—
C		9.82		0.40		—		0.21			0.61			(0.43	)		—			(0.36	)		(0.79	)		(0.18	)		9.64		6.53			475		9.13			1.30			1.30			1.63			—
Y		9.83		0.50		—		0.21			0.71			(0.53	)		—			(0.36	)		(0.89	)		(0.18	)		9.65		7.62			135		8.02			0.23			0.23			2.31			—
From (commencement of operations) September 30, 2005, through October 31, 2005
A(j)		10.00		0.02		—		(0.20	)		(0.18	)		—			—			—			—			(0.18	)		9.82		(1 .80	) (e)		11		0 .65	(f)		0 .49	(f)		0 .49	(f)		2 .53	(f)		12
B(k)		10.00		0.01		—		(0.19	)		(0.18	)		—			—			—			—			(0.18	)		9.82		(1 .80	) (e)		10		1 .41	(f)		1 .26	(f)		1 .26	(f)		1 .61	(f)		—
C(l)		10.00		0.01		—		(0.19	)		(0.18	)		—			—			—			—			(0.18	)		9.82		(1 .80	) (e)		10		1 .41	(f)		1 .27	(f)		1 .27	(f)		1 .60	(f)		—
Y(m)		10.00		0.02		—		(0.19	)		(0.17	)		—			—			—			—			(0.17	)		9.83		(1 .70	) (e)		10		0 .32	(f)		0 .21	(f)		0 .21	(f)		2 .65	(f)		—

(a)	Information presented relates to a share outstanding throughout the indicated period.
(b)	Expense ratios do not include expenses of the underlying funds.
(c)	Assumes initial investment at net asset value at the beginning of each period, reinvestment of all distributions, the complete redemption of the investment at net asset value at the end of each period and no sales charge. Total return would be reduced if sales charges were taken into account.
(d)	Ratios do not include fees paid indirectly (See Expenses in the accompanying Notes to Financial Statements).
(e)	Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between the classes of shares issued.
(f)	Not annualized.
(g)	Annualized.
(h)	Commenced operations on December 22, 2006.
(i)	Commenced operations on December 22, 2006.
(j)	Commenced operations on December 22, 2006.
(k)	Commenced operations on September 30, 2005.
(l)	Commenced operations on September 30, 2005.
(m)	Commenced operations on September 30, 2005.
(n)	Commenced operations on September 30, 2005.

17

The Hartford Target Retirement 2010 Fund

Directors and Officers (Unaudited)

The Board of Directors appoints officers who are responsible for the day-to-day operations of the Fund and who execute policies formulated by the Directors. Each director serves until his or her death, resignation, or retirement or until the next annual meeting of shareholders is held or until his or her successor is elected and qualifies.

Directors and officers who are employed by or who have a financial interest in The Hartford are considered “interested” persons of the Fund pursuant to the Investment Company Act of 1940, as amended. Each officer and three of the Fund’s directors, as noted in the chart below, are “interested” persons of the Fund. Each director serves as a director for The Hartford Mutual Funds, Inc., The Hartford Mutual Funds II, Inc., The Hartford Income Shares Fund, Inc., Hartford Series Fund, Inc., and Hartford HLS Series Fund II, Inc., which collectively consist of 100 funds. Correspondence may be sent to directors and officers c/o Hartford Mutual Funds, P.O. Box 2999, Hartford, Connecticut 06104-2999, except that correspondence to Ms. Fagely may be sent to 500 Bielenberg Drive, Woodbury, Minnesota 55125.

The table below sets forth, for each director and officer, his or her name, year of birth, current position with the Fund and date first elected or appointed to The Hartford Mutual Funds, Inc. (“MF”) and The Hartford Mutual Funds II, Inc. (“MF2”), principal occupation, and, for directors, other directorships held. The Fund’s statement of additional information contains further information on the directors and is available free of charge by calling 1-888-843-7824 or writing to Hartford Mutual Funds, P.O. Box 64387, St. Paul, MN 55164-0387.

Information on the aggregate remuneration paid to the directors of the Fund can be found in the Statement of Operations herein. The Fund pays a portion of the Chief Compliance Officer’s compensation, but does not pay salaries or compensation to any of its officers or directors who are employed by The Hartford.

Non-Interested Directors

Lynn S. Birdsong (1946) Director since 2003, Co-Chairman of the Investment Committee

Mr. Birdsong is a private investor. Since 1981, Mr. Birdsong has been a partner in Birdsong Company, an advertising specialty firm. Since 2003, Mr. Birdsong has been an independent director of The Japan Fund. From 2003 to March 2005, Mr. Birdsong was an independent director of the Atlantic Whitehall Funds. From 1979 to 2002, Mr. Birdsong was a managing director of Zurich Scudder Investments, an investment management firm. During his employment with Scudder, Mr. Birdsong was an interested director of The Japan Fund.

Robert M. Gavin, Jr. (1940) Director since 2002 (MF) and 1986 (MF2), Chairman of the Board since 2004

Dr. Gavin is an educational consultant. Prior to September 1, 2001, he was President of Cranbrook Education Community and prior to July 1996, he was President of Macalester College, St. Paul, Minnesota.

Duane E. Hill (1945) Director since 2001 (MF) and 2002 (MF2), Chairman of the Nominating Committee

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

Sandra S. Jaffee (1941) Director since 2005

Ms. Jaffee is Chairman and Chief Executive Officer of Fortent (formerly Searchspace Group), a leading provider of compliance/regulatory technology to financial institutions. Ms. Jaffee served as an Entrepreneur in Residence with Warburg Pincus, a private equity firm, from August 2004 to August 2005. From September 1995 to July 2004, Ms. Jaffee served as Executive Vice President at Citigroup, where she was President and Chief Executive Officer of Citibank’s Global Securities Services (1995-2003).

William P. Johnston (1944) Director since 2005, Chairman of the Compliance Committee

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

18

Phillip O. Peterson (1944) Director since 2002 (MF) and 2000 (MF2), Chairman of the Audit Committee

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

Lemma W. Senbet (1946) Director since 2005

Dr. Senbet is the William E. Mayer Chair Professor of Finance at the University of Maryland, Robert H. Smith School of Business. He was chair of the Finance Department during 1998-2006. Previously he was an endowed professor of finance at the University of Wisconsin-Madison. Also, he was director of the Fortis Funds from March 2000-July 2002. Dr. Senbet served the finance profession in various capacities, including as director of the American Finance Association and President of the Western Finance Association. In 2006, Dr. Senbet was inducted Fellow of Financial Management Association International for his career-long distinguished scholarship and professional service.

Interested Directors and Officers

Thomas M. Marra* (1958) Director since 2002

Mr. Marra has served as President and Chief Operating Officer of The Hartford Financial Services Group, Inc. (“The Hartford”) since 2007. Mr. Marra currently serves as Director of Hartford Life, Inc. (“HL, Inc.”). Mr. Marra served as Chief Operating Officer of Hartford Life Insurance Company, Inc. (“Hartford Life”) (2000-2008), as President of Hartford Life (2002-2008) and as Director of Hartford Life’s Investment Products Division from 1998 to 2000.

* On February 24, 2009, The Hartford and Mr. Marra determined to enter into a mutually agreed separation whereby Mr. Marra will retire, and his role as an executive officer and employee of The Hartford will terminate, effective July 3, 2009. Mr. Marra will resign his position as a Director of the Fund effective June 25, 2009.

Lowndes A. Smith (1939) Director since 2002, Co-Chairman of the Investment Committee

Mr. Smith served as Vice Chairman of The Hartford from February 1997 to January 2002, as President and Chief Executive Officer of Hartford Life, Inc. from February 1997 to January 2002, and as President and Chief Operating Officer of The Hartford Life Insurance Companies from January 1989 to January 2002. Mr. Smith serves as a Director of White Mountains Insurance Group, Ltd., One Beacon Insurance, Symetra Financial and as a Managing Director of Whittington Gray Associates.

John C. Walters* (1962) Director since 2008

Mr. Walters currently serves as Chief Executive Officer, President and Director of HL, Inc. Mr. Walters previously served as President of the U.S. Wealth Management Division of Hartford Life, Inc., as Co-Chief Operating Officer of Hartford Life Insurance Company (2007-2008) and as Executive Vice President and Director of its Investment Products Division (2000-2008). Mr. Walters also serves as Chairman of the Board, Chief Executive Officer, President and Director of Hartford Life Insurance Company and as Executive Vice President of The Hartford. In addition, Mr. Walters is Manager of HL Investment Advisors, LLC (“HL Advisors”).

* Mr. Walters previously served as President and Chief Executive Officer of the Fund (2007 — 2009).

Other Officers

Robert M. Arena, Jr. (1968) President and Chief Executive Officer since 2009 (served as Vice President of the Fund (2006 — 2009))

Mr. Arena serves as Executive Vice President of Hartford Life Insurance Company, (“Hartford Life”). Additionally, Mr. Arena is Director and Senior Vice President of Hartford Administrative Services Company, (“HASCO”), Manager, Chief Executive Officer and President of Hartford Investment Financial Services, LLC (“HIFSCO”) and HL Advisors. Prior to joining The Hartford in 2004, he was Senior Vice President in charge of Product Management for American Skandia/Prudential in the individual annuities division. Mr. Arena joined American Skandia in 1996.

Tamara L. Fagely (1958) Vice President, Treasurer and Controller since 2002 (MF) 1993 (MF2)

Ms. Fagely has been a Vice President of HASCO since 1998 and Chief Financial Officer since 2006. Currently Ms. Fagely is a Vice President of Hartford Life. She served as Assistant Vice President of Hartford Life from December 2001 through March 2005. In addition, Ms. Fagely is Controller and Chief Financial Officer of HIFSCO.

Brian Ferrell (1962) AML Compliance Officer since 2008

Mr. Ferrell has served as Assistant Vice President and AML Compliance Officer for The Hartford since 2006 and as AML Compliance Officer for HASCO and Hartford Investor Services Company, LLC (“HISC”) since 2008. Prior to joining The Hartford in 2006, Mr. Ferrell held various positions at the U.S. Department of the Treasury, (the “Treasury”), from 2001 to 2006 where he served as Chief Counsel for the Treasury’s Financial Crimes Enforcement Network, (“FinCEN”) from 2005 — 2006.

19

The Hartford Target Retirement 2010 Fund
Directors and Officers (Unaudited) — (continued)

Thomas D. Jones, III (1965) Vice President and Chief Compliance Officer since 2006

Mr. Jones serves as Chief Compliance Officer for the Hartford Mutual Funds and Vice President and Director of Securities Compliance for The Hartford. He is also Vice President of HIFSCO, HL Advisors, and Hartford Life Insurance Company. Mr. Jones joined The Hartford in 2006 from SEI Investments, where he served as Chief Compliance Officer for its mutual funds and investment advisers. Prior to joining SEI, Mr. Jones was First Vice President and Compliance Director for Merrill Lynch Investment Managers (Americas) (“MLIM”), where he worked from 1992-2004. At MLIM, Mr. Jones was responsible for the compliance oversight of various investment products, including mutual funds, wrap accounts, institutional accounts and alternative investments.

Edward P. Macdonald (1967) Vice President, Secretary and Chief Legal Officer since 2005

Mr. Macdonald serves as Assistant General Counsel and Assistant Vice President of The Hartford and Chief Legal Officer and Vice President of HIFSCO. He also serves as Vice President and Secretary of HASCO, Assistant Vice President of Hartford Life, and Chief Legal Officer, Secretary and Vice President of HL Advisors. Prior to joining The Hartford in 2005, Mr. Macdonald was Chief Counsel, Investment Management for Prudential Financial (formerly American Skandia Investment Services, Inc.). He joined Prudential in April 1999.

Vernon J. Meyer (1964) Vice President since 2006

Mr. Meyer serves as Senior Vice President of Hartford Life and as Director of its Investment Advisory Group in the Individual Markets Group segment. He also serves as Senior Vice President of HIFSCO and HL Advisors. Prior to joining The Hartford in 2004, Mr. Meyer was with MassMutual which he joined in 1987.

D. Keith Sloane (1960) Vice President since 2009

Mr. Sloane is a Senior Vice President of Hartford Life where he serves as Director of mutual fund product management for The Hartford’s mutual funds and 529 college savings businesses. Additionally, Mr. Sloane currently serves as Senior Vice President of HIFSCO, HL Advisors, and HASCO. Prior to joining The Hartford in 2007, Mr. Sloane was Director of product marketing and led the mutual fund business for Wachovia Securities (“Wachovia”) in their investment products group. Mr. Sloane joined Wachovia in 1995.

Jane Wolak (1961) Vice President since 2009

Ms. Wolak currently serves as Vice President of Hartford Life. Ms. Wolak joined Hartford Life as Vice President, Retail Product Services in May 2007. She is also Vice President of HASCO. Previously, Ms. Wolak was with Sun Life Financial where she held the position of Vice President, Service Center Operations from 2001 — 2007.

HOW TO OBTAIN A COPY OF THE FUND’S PROXY VOTING POLICIES AND VOTING RECORDS

A description of the policies and procedures that the Fund uses to determine how to vote proxies relating to portfolio securities and a record of how the Fund voted any proxies for the twelve-month period ended June 30, 2008 is available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov.

QUARTERLY PORTFOLIO HOLDINGS INFORMATION

The Fund files a complete schedule of portfolio holdings with the Commission for the first and third quarters of each fiscal year on Form N-Q. The Fund’s Forms are available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov. The Form N-Q may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330.

20

The Hartford Target Retirement 2010 Fund

Expense Example (Unaudited)

Your Fund’s Expenses

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments and contingent deferred sales charges (CDSC) (2) ongoing costs including management fees; distribution fees; and other fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the period of October 31, 2008 through April 30, 2009.

Actual Expenses

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

Hypothetical Example for Comparison Purposes

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

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads) and CDSC. Therefore, the second line 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 are equal to the Fund’s annualized expense ratios multiplied by average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

	Actual return						Hypothetical (5% return before expenses)
					Expenses paid						Expenses paid					Days in
					during the period						during the period					the		Days
	Beginning		Ending Account		October 31, 2008		Beginning		Ending Account		October 31,		Annualized			current		in the
	Account Value		Value		through		Account Value		Value		2008 through		expense			1/2		full
	October 31, 2008		April 30, 2009		April 30, 2009		October 31, 2008		April 30, 2009		April 30, 2009		ratio			year		year
Class A	$	1,000.00	$	1,011.82	$	1.14	$	1,000.00	$	1,023.65	$	1.15		0.23	%		181		365
Class B	$	1,000.00	$	1,006.96	$	4.87	$	1,000.00	$	1,019.93	$	4.90		0.98			181		365
Class C	$	1,000.00	$	1,007.42	$	4.87	$	1,000.00	$	1,019.93	$	4.90		0.98			181		365
Class R3	$	1,000.00	$	1,009.63	$	1.89	$	1,000.00	$	1,022.91	$	1.90		0.38			181		365
Class R4	$	1,000.00	$	1,011.68	$	0.39	$	1,000.00	$	1,024.39	$	0.40		0.08			181		365
Class R5	$	1,000.00	$	1,012.31	$	0.14	$	1,000.00	$	1,024.64	$	0.15		0.03			181		365
Class Y	$	1,000.00	$	1,011.33	$	0.14	$	1,000.00	$	1,024.64	$	0.15		0.03			181		365

21

The Hartford Target Retirement 2015 Fund

Table of Contents

Manager Discussions (Unaudited)	2
Financial Statements
Schedule of Investments at April 30, 2009 (Unaudited)	4
Statement of Assets and Liabilities at April 30, 2009 (Unaudited)	5
Statement of Operations for the Six Month Period Ended April 30, 2009 (Unaudited)	6
Statement of Changes in Net Assets for the Six Month Period Ended April 30, 2009 (Unaudited) and the Year Ended October 31, 2008	7
Notes to Financial Statements (Unaudited)	8
Financial Highlights (Unaudited)	15
Directors and Officers (Unaudited)	16
How to Obtain a Copy of the Fund’s Proxy Voting Policies and Proxy Voting Records (Unaudited)	18
Quarterly Portfolio Holdings Information (Unaudited)	18
Expense Example (Unaudited)	19

The Hartford Target Retirement 2015 Fund
(subadvised by Hartford Investment Management Company)

Performance Overview(1) 10/31/08 — 4/30/09
Growth of a $10,000 investment in Class R3

Barclays Capital U.S. Aggregate Bond Index is an unmanaged index and is composed of securities from the Barclays Capital Government/Credit Bond Index, Mortgage-Backed Securities Index, Asset-Backed Securities Index and Commercial Mortgage-Backed Securities Index.

S&P 500 Index is a market capitalization weighted price index composed of 500 widely held common stocks.

You cannot invest directly in an index.

Investment objective — Seeks to maximize total return and secondarily, to seek capital preservation.

Average Annual Total Returns(2) (as of 4/30/09)

	Inception		Since
	Date		Inception
Target Retirement 2015 R3		10/31/08		0.01	%
Target Retirement 2015 R4		10/31/08		0.16	%
Target Retirement 2015 R5		10/31/08		0.17	%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
(1)	Growth of a $10,000 investment in Classes R4 and R5 shares will vary from results seen above due to differences in the expenses charged to these share classes.
(2)	Total returns presented above were calculated using the Fund’s net asset value available to shareholders for sale or redemption of Fund shares on April 30, 2009, which excludes investment transactions as of this date.

The value of shares will fluctuate so that, when redeemed, shares may be worth more or less than their original cost. The chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.

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

Portfolio Managers
Hugh Whelan, CFA	Edward C. Caputo, CFA
Managing Director	Vice President

How did the Fund perform?

The Class R3 shares of The Hartford Target Retirement 2015 Fund returned 0.01% for the six-month period ended April 30, 2009. In comparison, its benchmarks, the S&P 500 Index and the Barclays Capital U.S. Aggregate Bond Index, returned -8.53% and 7.74%, respectively, while the average return of the Lipper Mixed-Asset Target 2015 Funds category, a group of funds with investment strategies similar to those of the Fund, was -1.22%.

Why did the Fund perform this way?

The U.S. recession continued to deepen during the six-month period under review. Rising unemployment weighed on personal income and spending, while first quarter industrial production posted the steepest quarterly decline in more than 30 years. However, as the six-month period drew to a close, there were some signs that perhaps the rate of economic decline was beginning to slow. Financial conditions stabilized a bit, while the Federal Reserve’s purchases of long-term Treasuries and mortgage-backed securities also provided strong support for the mortgage market, driving fixed mortgage rates lower. Generally, the Fund’s target asset allocation is set at approximately 64% equities and 36% fixed-income.

This environment initially created another difficult period for stocks, with the S&P 500 Index closing at a new low of 676.53 on March 9, down -29.30% since the start of the 6-month period. However, emergent signs of a slowdown in the economy’s free-fall helped lift the index through the remainder of the period, leaving it down -8.53% for the period. The index was in the black in March and April, gaining 8.76% and 9.57%, respectively, for a gain of 29.38% from March 9 through the end of the period. Declines were widespread across most equity asset classes during the six-month period. Among the eleven equity asset classes in our investment universe, emerging market stocks, EAFE small cap stocks, and U.S. midcap growth stock indices posted positive returns over the 6-month period. U.S. Real-Estate Investment Trusts (REITS) led the way lower during the period, while growth stocks continued to outperform

2

value stocks across all market capitalization levels. International stocks outperformed U.S. stocks.

In fixed income, five and ten year Treasury yields increased during the 6-month period. Within the major sectors of the Barclays Capital U.S. Aggregate Bond Index, investment grade credit was the top performer at 11.47%, while commercial mortgage backed securities (CMBS) were the weakest performer at 1.32%. In the high yield asset classes, high yield bonds and emerging markets debt both outperformed the Barclays Capital U.S. Aggregate Bond Index, while floating rate notes did not. In addition, Treasury Inflation-Protection Securities (TIPS) were the best performing investment grade asset class in our investment universe at 9.46%.

There are two main drivers of the Fund’s performance: asset allocation among various asset classes and performance of the underlying funds. With regard to asset allocation, the Fund maintains relatively fixed exposures to the equity and fixed income markets. Therefore, we seek to add value by strategically allocating within the equity and fixed income investment sub asset classes. Our asset allocation decisions over the period improved the Fund’s performance.

Concerning the Fund’s equity exposure, favorable allocations to emerging market stocks and international small cap stocks helped offset unfavorable allocations to U.S. stocks. By design, the Fund also maintains exposure to various fixed income asset classes to deliver a well diversified portfolio solution. Favorable allocations to TIPS failed to offset the impact of unfavorable allocations to floating rate notes.

Beyond the asset allocation decision, we also seek to add value by selecting the underlying mutual funds that will most effectively deliver the target asset class exposures. We analyze all of the funds in our investment universe, looking through each fund’s objectives and stated benchmark to see what it actually holds and how it behaves. During the period, the Fund benefited from underlying fund selection.

During the period, the Fund continued to utilize Exchange-Traded Funds (ETFs) to obtain asset class exposures otherwise unavailable through The Hartford family of funds. Specifically, the Fund has target allocations to ETFs that provide U.S. real estate and international real estate exposure, as well as emerging market debt exposure.

Whenever possible, we rely on cash flows to execute our allocation changes. During the period, a hard rebalance (i.e. a fund rebalancing to move the underlying fund investments to their target allocation percentages) was executed to bring the fund allocations closer to their targets. In addition, we have changed the target allocation to stocks and bonds from 65% stock and 35% bond to 64% stock and 36% bond.

What is the outlook?

In fixed income, risk premiums (the additional compensation paid to investors to tolerate the increased level of risk in a given asset class relative to Treasuries) across most asset classes reversed course and began to contract as conditions improved and volatility declined. An onslaught of government policy, from fiscal stimulus to quantitative easing, was the primary catalyst and buyers of historically inexpensive corporate debt emerged as more market participants recognized relative value versus equities. Although risk premiums have come off their historical peak, spreads remain significantly wider (i.e. short and long term interest rates farther apart) than in prior recessions.

In equities the earnings picture is cloudy. First, earnings are falling at near record-breaking rates and all indications are that they will continue to fall. Second, the quality and reliability of the earnings reported is lower than historical standards as the gap between pro forma (“street”) earnings and GAAP (Generally Accepted Accounting Principles) earnings rose in the past several months. Third, there is little clarity in future earnings prospects as the disparity among analyst estimates for future earnings remains at elevated levels. Historically, such consensus building was a precondition to the final, sustained recovery from bear markets associated with recessions.

That said, we believe that investors are well served by adhering to a strategic, diversified portfolio and rebalancing accordingly. We construct these portfolios based upon the long-term properties of asset classes. We look at their long-term returns, volatilities, and correlations between each other and run optimizations to build an optimal portfolio.

Composition by Underlying Fund
as of April 30, 2009

	Percentage of Net
Fund Name	Assets
Powershares Emerging Markets Sovereign Debt Portfolio ETF		0.0	%
SPDR DJ Wilshire International Real Estate ETF		1.5
SPDR DJ Wilshire REIT ETF		1.4
State Street Bank Money Market Fund		0.0
The Hartford Capital Appreciation Fund, Class Y		10.6
The Hartford Capital Appreciation II Fund, Class Y		5.8
The Hartford Disciplined Equity Fund, Class Y		4.3
The Hartford Dividend and Growth Fund, Class Y		4.1
The Hartford Floating Rate Fund, Class Y		3.3
The Hartford Fundamental Growth Fund, Class Y		3.9
The Hartford Global Growth Fund, Class Y		2.0
The Hartford Growth Fund, Class Y		1.5
The Hartford High Yield Fund, Class Y		0.8
The Hartford Inflation Plus Fund, Class Y		6.7
The Hartford International Opportunities Fund, Class Y		5.3
The Hartford International Small Company Fund, Class Y		3.3
The Hartford MidCap Fund, Class Y		2.3
The Hartford Select SmallCap Value Fund, Class Y		0.0
The Hartford Short Duration Fund, Class Y		5.2
The Hartford Small Company Fund, Class Y		3.3
The Hartford Strategic Income Fund, Class Y		7.2
The Hartford Total Return Bond Fund, Class Y		10.9
The Hartford Value Fund, Class Y		15.6
Other Assets and Liabilities		1.0
Total		100.0	%

3

The Hartford Target Retirement 2015 Fund

Schedule of Investments

April 30, 2009 (Unaudited)

(000’s Omitted)

Shares or Principal Amount					Market Value ╪
AFFILIATED INVESTMENT COMPANIES - 96.1%
EQUITY FUNDS - 62.0%
	14	The Hartford Capital Appreciation Fund, Class Y			$	337
	21	The Hartford Capital Appreciation II Fund, Class Y•				185
	15	The Hartford Disciplined Equity Fund, Class Y				136
	10	The Hartford Dividend and Growth Fund, Class Y				132
	16	The Hartford Fundamental Growth Fund, Class Y•				125
	6	The Hartford Global Growth Fund, Class Y•				64
	4	The Hartford Growth Fund, Class Y•				49
	17	The Hartford International Opportunities Fund, Class Y				168
	14	The Hartford International Small Company Fund, Class Y				107
	5	The Hartford MidCap Fund, Class Y•				73
	—	The Hartford Select SmallCap Value Fund, Class Y				1
	8	The Hartford Small Company Fund, Class Y•				106
	62	The Hartford Value Fund, Class Y				499
		Total equity funds (cost $1,987)			$	1,982
FIXED INCOME FUNDS - 34.1%
	14	The Hartford Floating Rate Fund, Class Y			$	105
	5	The Hartford High Yield Fund, Class Y				26
	20	The Hartford Inflation Plus Fund, Class Y				215
	18	The Hartford Short Duration Fund, Class Y				165
	30	The Hartford Strategic Income Fund, Class Y				229
	36	The Hartford Total Return Bond Fund, Class Y				347
		Total fixed income funds (cost $1,047)			$	1,087
		Total investments in affiliated investment companies (cost $3,034)			$	3,069
EXCHANGE TRADED FUNDS - 2.9%
	—	Powershares Emerging Markets Sovereign Debt Portfolio ETF			$	1
	2	SPDR DJ Wilshire International Real Estate ETF				46
	1	SPDR DJ Wilshire REIT ETF				44
		Total exchange traded funds (cost $103)			$	91
		Total long-term investments (cost $3,137)			$	3,160
SHORT-TERM INVESTMENTS - —%
	—	State Street Bank Money Market Fund			$	—
		Total short-term investments (cost $—)			$	—
		Total investments (cost $3,137) ▲	99.0	%	$	3,160
		Other assets and liabilities	1.0	%		32
		Total net assets	100.0	%	$	3,192

Note:	Percentage of investments as shown is the ratio of the total market value to total net assets.
▲	At April 30, 2009, the cost of securities for federal income tax purposes was $3,137 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	70
Unrealized Depreciation		(47	)
Net Unrealized Appreciation	$	23

•	Currently non-income producing.
╪	See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of securities.

FAS 157 Disclosure of Investment Valuation Hierarchy Levels

Assets:
Investment in securities — Level 1	$	3,160
Total	$	3,160

4

The Hartford Target Retirement 2015 Fund

Statement of Assets and Liabilities

April 30, 2009 (Unaudited)

(000’s Omitted)

Assets:
Investments in securities, at fair value (cost $103)	$	91
Investments in underlying affiliated funds, at fair value (cost $3,034)		3,069
Receivables:
Fund shares sold		—
Dividends and interest		3
Other assets		32
Total assets		3,195
Liabilities:
Payables:
Investment management fees		—
Distribution fees		—
Accrued expenses		3
Total liabilities		3
Net assets	$	3,192
Summary of Net Assets:
Capital stock and paid-in-capital		3,198
Accumulated undistributed net investment income		15
Accumulated net realized loss on investments		(44	)
Unrealized appreciation of investments		23
Net assets	$	3,192
Shares authorized		150,000
Par value	$	0.001
Class R3: Net asset value per share	$	9.88
Shares outstanding		120
Net assets	$	1,189
Class R4: Net asset value per share	$	9.89
Shares outstanding		101
Net assets	$	1,001
Class R5: Net asset value per share	$	9.89
Shares outstanding		101
Net assets	$	1,002

5

The Hartford Target Retirement 2015 Fund

Statement of Operations

From (commencement of operations) October 31, 2008 through April 30, 2009 (Unaudited)

(000’s Omitted)

Investment Income:
Dividends	$	2
Dividends from underlying affiliated funds		50
Total investment income		52
Expenses:
Investment management fees		2
Transfer agent fees		—
Distribution fees
Class R3		2
Class R4		1
Custodian fees		—
Accounting services		—
Registration and filing fees		17
Board of Directors’ fees		—
Audit fees		3
Other expenses		4
Total expenses (before waivers)		29
Expense waivers		(27	)
Total waivers		(27	)
Total expenses, net		2
Net investment income		50
Net Realized Loss on Investments:
Net realized loss on investments in underlying affiliated funds		(44	)
Net Realized Loss on Investments		(44	)
Net Changes in Unrealized Appreciation of Investments:
Net unrealized appreciation of investments		23
Net Changes in Unrealized Appreciation of Investments		23
Net Loss on Investments		(21	)
Net Increase in Net Assets Resulting from Operations	$	29

6

The Hartford Target Retirement 2015 Fund

Statement of Changes in Net Assets

(000’s Omitted)

	For the Period
	October 31, 2008**
	through
	April 30, 2009
Operations:
Net investment income	$	50
Net realized loss on investments		(44	)
Net unrealized appreciation of investments		23
Net increase in net assets resulting from operations		29
Distributions to Shareholders:
From net investment income
Class R3		(11	)
Class R4		(12	)
Class R5		(12	)
Total distributions		(35	)
Capital Share Transactions:
Class R3		1,174
Class R4		1,012
Class R5		1,012
Net increase from capital share transactions		3,198
Net increase in net assets		3,192
Net Assets:
Beginning of period		—
End of period	$	3,192
Accumulated undistributed net investment income	$	15

^** Commencement of operations.

7

The Hartford Target Retirement 2015 Fund

Notes to Financial Statements
April 30, 2009 (Unaudited)

(000’s Omitted)

1.	Organization:
	The Hartford Mutual Funds, Inc. (“Company”) is an open-end management investment company comprised of fifty-two portfolios. Financial statements for The Hartford Target Retirement 2015 Fund (the “Fund”), a series of the Company, are included in this report.
	The Company is organized under the laws of the State of Maryland and is registered with the Securities and Exchange Commission (“SEC”) under the Investment Company Act of 1940, as amended (“1940 Act”). The Fund is a diversified open-end management investment company.
	Classes R3, R4, R5 shares, which are offered to employer-sponsored retirement plans, are sold without a sales charge. All classes of shares have identical voting, redemption, dividend, liquidation and other rights and the same terms and conditions, with the exceptions that each class may have different expenses, which may affect performance.
	The Fund, as a “Fund of Funds”, invests the majority of its assets in Class Y shares of other Hartford mutual funds (“Underlying Funds”) as well as certain exchange-traded funds (“ETFs”). The Fund seeks its investment goals through implementation of a strategic asset allocation recommendation provided by Hartford Investment Management Company (“Hartford Investment Management”), a wholly-owned subsidiary of The Hartford Financial Services Group, Inc. (“The Hartford”).
2.	Significant Accounting Policies:
	The accounting policies of the affiliated underlying funds are outlined in the shareholder reports for such funds, available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov. The reports may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330. The affiliated Underlying Funds are not covered by this report.
	The following is a summary of significant accounting policies of the Fund, which are in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”).

a)	Security Transactions and Investment Income — Security transactions are recorded on the trade date (the date the order to buy or sell is executed). Security gains and losses are determined on the basis of identified cost.
	Dividend income is accrued as of the ex-dividend date. Income and capital gain distributions from Underlying Funds are recorded on the ex-dividend date.
b)	Security Valuation — Investments in open-end mutual funds are valued at the respective NAV of each open-end mutual fund on the valuation date.
	The Fund generally uses market prices in valuing portfolio securities. If market prices are not readily available or are deemed unreliable, the Fund will use the fair value of the security as determined in good faith under policies and procedures established by and under the supervision of the Fund’s Board of Directors. Market prices may be deemed unreliable, for example, if a security is thinly traded or if an event has occurred after the close of the security’s primary markets, but before the close of the New York Stock Exchange (the “Exchange”) (normally 4:00 p.m. Eastern Time, referred to as the “Valuation Time”) that is expected to affect the value of the portfolio security. The circumstances in which the Fund may use fair value pricing include, among others: (i) the occurrence of events that are significant to a particular issuer, such as mergers, restructuring or defaults; (ii) the occurrence of events that are significant to an entire market, such as natural disasters in a particular region or governmental actions; (iii) trading restrictions on securities; (iv) thinly traded securities and (v) market events such as trading halts and early market closings. In addition, with respect to

8

the valuation of stocks primarily traded on foreign markets, the Fund uses a fair value pricing service approved by the Fund’s Board of Directors, which employs quantitative models that evaluate changes in the value of foreign market proxies (e.g., futures contracts, ADR’s, exchange traded funds (“ETF’s”)) after the close of the foreign markets but before the close of the Exchange. Securities that are primarily traded on foreign markets may trade on days that are not business days of the Fund. The value of the foreign securities in which the Fund invests may change on days when a shareholder will not be able to purchase or redeem shares of the Fund. Fair value pricing is subjective in nature and the use of fair value pricing by the Fund may cause the NAV of its shares to differ significantly from the NAV that would have been calculated using market prices at the close of the exchange on which a portfolio security is primarily traded but before the close of the Exchange. There can be no assurance that the Fund could obtain the fair value assigned to a security if the Fund were to sell the security at approximately the time at which the Fund determines its NAV.

Debt securities (other than short-term obligations and senior floating rate interests) held by the Fund are valued on the basis of valuations furnished by an independent pricing service which determines valuations for normal institutional size trading units of debt securities. Senior floating rate interests generally trade in over-the-counter markets and are priced through an independent pricing service utilizing independent market quotations from loan dealers or financial institutions. Securities for which prices are not available from an independent pricing service are valued using market quotations obtained from one or more dealers that make markets in the securities in accordance with procedures established by the Fund’s Board of Directors. Generally, the Fund may use fair valuation in regard to debt securities when the Fund holds defaulted or distressed securities or securities in a company in which a reorganization is pending. Short-term investments with a maturity of more than 60 days when purchased are valued based on market quotations until the remaining days to maturity become less than 61 days. Investments that mature in 60 days or less are valued at amortized cost, which approximates market value.

Exchange traded equity securities shall be valued at the last reported sale price on the exchange or market on which the security is primarily traded (the “Primary Market”) at the Valuation Time. If the security did not trade on the Primary Market, it may be valued at the Valuation Time at the last reported sale price on another exchange where it trades. The value of an equity security not traded on any exchange but traded on the Nasdaq Stock Market, Inc. (“Nasdaq”) or another over-the-counter market shall be valued at the last reported sale price or official closing price on the exchange or market on which the security is traded as of the Valuation Time. If it is not possible to determine the last reported sale price or official closing price on the relevant exchange or market at the Valuation Time, the value of the security shall be taken to be the most recent mean between bid and asked prices on such exchange or market at the Valuation Time.

Securities of foreign issuers and non-dollar securities are translated from the local currency into U.S. dollars using prevailing exchange rates.

Options contracts on securities, currencies, indexes, futures contracts, commodities and other instruments shall be valued at their most recent sales price at the Valuation Time on the Primary Market on which the instrument is primarily traded. If the instrument did not trade on the Primary Market, it may be valued at the most recent sales price at the Valuation Time on another exchange or market where it did trade.

Futures contracts are valued at the most recent settlement price reported by an exchange on which, over time, they are traded most extensively. If a settlement price is not available, futures contracts will be valued at the most recent trade price as of the Valuation Time. If there were no trades, the contract shall be valued at the mean of the closing bid/ask prices as of the Valuation Time.

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

A forward currency contract shall be valued based on the price of the underlying currency at the prevailing interpolated exchange rate, which is a combination of the spot currency rate and the forward currency rate. Spot currency rates and

9

The Hartford Target Retirement 2015 Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

	forward currency rates are obtained from an independent pricing service on a daily basis not more than one hour before the Valuation Time.
	Swaps are valued based on custom valuations furnished by an independent pricing service. Swaps for which prices are not available from an independent pricing service are valued in accordance with procedures established by the Fund’s Board of Directors.
	Other derivative or contractual type instruments shall be valued using market prices if such instruments trade on an exchange or market. If such instruments do not trade on an exchange or market, such instruments shall be valued at a price at which the counterparty to such contract would repurchase the instrument. In the event that the counterparty cannot provide a price, such valuation may be determined in accordance with procedures established by the Fund’s Board of Directors.
c)	Indexed Securities — The Fund may invest in indexed securities whose values are linked to changes in interest rates, indices, or other underlying instruments. The Fund uses these securities to increase or decrease its exposure to different underlying instruments and to gain exposure to markets that might be difficult to invest in using conventional securities. Indexed securities may be more volatile than their underlying instruments, but any loss is limited to the amount of the original investment and there may be a limit to the potential appreciation of the investment. The Fund had investments in indexed securities as of April 30, 2009, as shown on the Schedule of Investments under Exchange Traded Funds.
d)	Fund Share Valuation and Dividend Distributions to Shareholders — Orders for the Fund’s shares are executed in accordance with the investment instructions of the shareholders. The NAV of the Fund’s shares is determined as of the close of each business day of the Exchange. The NAV is determined separately for each class of the Fund by dividing the Fund’s net assets attributable to that class by the number of shares of the class outstanding. Orders for the purchase of the Fund’s shares prior to the close of the Exchange on any day on which the Exchange is open for business are priced at the NAV determined as of the close of the Exchange. Orders after the close of the Exchange, or on a day on which the Exchange and/or the Fund is not open for business, are priced at the next determined NAV.
	The Fund intends to distribute substantially all of its net investment income and net realized capital gains to shareholders no less frequently than once a year. Normally, dividends from net investment income of the Fund are declared and paid annually. Dividends are paid on shares beginning on the business day after the day when the funds used to purchase the shares are collected by the transfer agent for the Fund. Long-term capital gains distributions received from underlying funds are distributed at least annually, when required. Unless shareholders specify otherwise, all dividends and distributions will be automatically reinvested in additional full or fractional shares of the Fund.
	Distributions from net investment income, realized capital gains and capital are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP with respect to character and timing. These differences include but are not limited to foreign currency gains and losses, losses deferred due to wash sales adjustments, adjustments related to Passive Foreign Investment Companies and certain derivatives, and excise tax regulations. Permanent book and federal income tax basis differences relating to shareholder distributions will result in reclassifications to certain of the Fund’s capital accounts (see Federal Income Taxes: Reclassification of Capital Accounts footnote).
e)	Use of Estimates — The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and the reported amounts of income and expenses during the period. Operating results in the future could vary from the amounts derived from management’s estimates.
f)	Financial Accounting Standards Board Financial Accounting Standards No. 157 — Effective November 1, 2008, the Fund adopted Financial Accounting Standards Board (“FASB”) Statement of Financial Accounting Standards No. 157,

10

“Fair Value Measurements” (“FAS 157”). This standard clarifies the definition of fair value for financial reporting, establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements. Fair value is defined under FAS 157 as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Under FAS 157, a fair value measurement should reflect all of the assumptions that market participants would use in pricing the asset or liability, including assumptions about the risk inherent in a particular valuation technique, the effect of a restriction on the sale or use of an asset, and the risk of nonperformance.

Various inputs are used in determining the value of the Fund’s investment. These inputs are summarized, per FAS 157, into three broad hierarchy levels. This hierarchy is based on whether the valuation inputs are observable or unobservable. These levels are:

• Level 1 — Quoted prices in active markets for identical securities. Level 1 includes exchange-traded instruments such as domestic equities, some foreign equities, options, futures, mutual funds, ETF’s, and rights and warrants.

• Level 2 — Observable inputs other than Level 1 prices, such as quoted prices for similar securities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the security. Level 2 includes debt securities that are traded less frequently than exchange-traded instruments and that are valued using third party pricing services and foreign equities, whose value is determined using a multi-factor regression model with inputs that are observable in the market; and money market instruments, which are carried at amortized cost.

• Level 3 — Significant unobservable inputs that are supported by little or no market activity. Level 3 includes financial instruments whose values are determined using broker quotes and require significant management judgment or estimation. This category includes broker quoted securities, long dated OTC options and securities where trading has been halted or there are certain restrictions on trading. While these securities are priced using unobservable inputs, the valuation of these securities reflects the best available data and management believes the prices are a good representation of exit price.

	Individual securities within any of the above mentioned asset classes may be assigned a different hierarchical level than those presented above, as individual circumstances dictate.
	FAS 157 also requires that a roll forward reconciliation be shown for all Level 3 securities from the beginning of the reporting period to the end of the reporting period. Part of this reconciliation includes transfers in and/or out of Level 3. For purposes of this reconciliation, transfers in are shown at the end of period fair value and transfers out are shown at the beginning of period fair value. During the six-month period ended April 30, 2009, the Fund held no Level 3 securities.
	FASB Staff Position No. 157-4 — In April 2009, FASB released FASB Staff Position No. 157-4, “Determining Fair Value When the Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly” (“FSP FAS 157-4”). FSP FAS 157-4 provides additional guidance on determining whether a market for a financial asset is not active and a transaction is not distressed when measuring fair value under FAS 157. The FSP also requires additional disclosure detail on debt and equity securities by major investment categories. FSP FAS 157-4 is effective for interim and annual periods ending after June 15, 2009. At this time, management is evaluating the implications of FSP FAS 157-4 and does not believe it will impact valuation but will require additional disclosure. This additional disclosure has not yet been implemented.
g)	Financial Accounting Standards Board Financial Accounting Standards No. 161 — In March 2008, the FASB released Statement of Financial Accounting Standards No. 161, “Disclosures about Derivative Instruments and Hedging Activities” (“FAS 161”). FAS 161 requires companies to disclose information detailing the objectives and strategies for using derivative instruments, the level of derivative activity entered into by the company and any credit risk-related contingent features of the agreements. The application of FAS 161 is required for fiscal years and interim periods

11

The Hartford Target Retirement 2015 Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

beginning after November 15, 2008. At this time, management is evaluating the implications of FAS 161 and has not yet implemented the new disclosure standard.

h)

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

3. Federal Income Taxes:

a)	Federal Income Taxes — For federal income tax purposes, the Fund intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code (“IRC”) by distributing substantially all of its taxable net investment income and net realized capital gains to its shareholders and otherwise complying with the requirements of regulated investment companies. The Fund has distributed substantially all of its income and capital gains in prior years and the Fund intends to distribute substantially all of its income and gains during the calendar year ending December 31, 2009. Accordingly, no provision for federal income or excise taxes has been made in the accompanying financial statements. Distributions from short-term capital gains are treated as ordinary income distributions for federal income tax purposes.
b)	Reclassification of Capital Accounts — In accordance with American Institute of Certified Public Accountants (AICPA) Statement of Position 93-2, Determination, Disclosure, and Financial Statement Presentation of Income, Capital Gain, and Return of Capital Distributions by Investment Companies, the Fund may record reclassifications in its capital accounts. These reclassifications have no impact on the NAV of the Fund. The reclassifications are a result of permanent differences between GAAP and tax accounting for such items as net operating losses that reduce distribution requirements. Adjustments are made to reflect the impact these items have on current and future distributions to shareholders. Therefore, the source of the Fund’s distributions may be shown in the accompanying Statement of Changes in Net Assets as from net investment income, from net realized gains on investments or from capital depending on the type of book and tax differences that exist. Reclassifications are made at fiscal year end and therefore, no reclassifications were made during the six-month period ended April 30, 2009.
c)	Financial Accounting Standards Board Interpretation No. 48 — On July 13, 2006, the FASB released FASB Interpretation No. 48 “Accounting for Uncertainty in Income Taxes” (“FIN 48”). FIN 48 provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. The Fund has adopted FIN 48. Management has evaluated the implications of FIN 48 for the Fund and has determined there is no impact to the Fund’s financial statements.

4. Expenses:

a) Investment Management Agreements — Hartford Investment Financial Services, LLC (“HIFSCO”) serves as investment manager to the Fund pursuant to an Investment Management Agreement with The Hartford Mutual Funds, Inc. As investment manager, HIFSCO has overall investment supervisory responsibility for the Fund. In addition, HIFSCO provides administrative personnel, services, equipment, facilities and office space for proper operation of the Fund. HIFSCO has contracted with Hartford Investment Management for the provision of day-to-day investment management services to the Fund in accordance with the Fund’s investment objective and policies. The Fund pays a fee to HIFSCO, a portion of which may be used to compensate Hartford Investment Management.

12

The schedule below reflects the rates of compensation paid to HIFSCO for investment management services rendered during the six-month period ended April 30, 2009; the rates are accrued daily and paid monthly:

Average Daily Net Assets	Annual Fee
On first $500 million		0.15	%
On next $4.5 billion		0.10	%
On next $5 billion		0.08	%
Over $10 billion		0.07	%

b) Accounting Services Agreement — Pursuant to the Fund Accounting Agreement between Hartford Life Insurance Company (“HLIC”) and the Fund, HLIC provides accounting services to the Fund and receives monthly compensation on the Fund’s average net assets. The Fund’s accounting service fees are accrued daily and paid monthly.

Average Daily Net Assets	Annual Fee
On first $5 billion		0.012	%
Over $5 billion		0.010	%

c) Operating Expenses — Allocable expenses incurred by the Company are allocated to each Fund and allocated to classes within the Fund in proportion to the average daily net assets of the Fund and each class, except where allocation of certain expenses is more fairly made directly to the Fund or to specific classes within a Fund. During the six-month period ended April 30, 2009, HIFSCO has contractually limited the total operating expenses of this Fund, exclusive of taxes, interest expense, brokerage commissions, certain distribution expenses and extraordinary expenses as follows:

Class R3	Class R4	Class R5
1.15%	0.85%	0.80%

	Voluntary limitations for total operating expenses include expenses incurred as the result of investing in other investment companies. Amounts incurred which exceed the above limits are deducted from expenses and are reported as waivers on the accompanying Statement of Operations.
d)	Distribution and Service Plan for Class R3 and R4 Shares — HIFSCO is the principal underwriter and distributor of the Fund. HIFSCO is engaged in distribution activities, which include marketing and distribution of shares through broker-dealers, financing distribution costs and maintaining financial books and records.
	The Fund has adopted Distribution and Service Plans in accordance with Rule 12b-1 of the Investment Company Act of 1940, as amended, to compensate the distributor (HIFSCO) for activities intended to result in the sale and distribution of Classes R3 and R4 shares and for providing services for shareholders. The Rule 12b-1 plan applicable to Class R3 shares provides for a distribution fee of 0.50%. The Rule 12b-1 plan applicable to Class R4 shares provides for a distribution fee of 0.25%. For Classes R3 and R4 shares, some or the entire fee may be remitted to broker dealers for distribution and/or shareholder account services. The Fund’s 12b-1 fees are accrued daily and paid monthly.
	For the six-month period ended April 30, 2009, total sales commissions paid to affiliated brokers/dealers of The Hartford for distributing the Fund’s shares rounds to zero. These commissions are in turn paid to sales representatives of the broker/dealers.
e)	Other Related Party Transactions — Certain officers of the Fund are directors and/or officers of HIFSCO and/or The Hartford or its subsidiaries. For the six-month period ended April 30, 2009, a portion of the Fund’s chief compliance officer’s salary was paid by the Fund in an amount, which rounds to zero. Hartford Administrative Services Company

13

The Hartford Target Retirement 2015 Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

(“HASCO”), an indirect wholly owned subsidiary of The Hartford, provides transfer agent services to the Fund. HASCO was compensated an amount, which rounds to zero, for providing such services. These fees are accrued daily and paid monthly.

5.	Affiliate Holdings:
	As of April 30, 2009, affiliates of The Hartford had ownership of shares in the Fund as follows:

	Shares
Class R3		101
Class R4		101
Class R5		101

6.	Investment Transactions:
	For the six-month period ended April 30, 2009, the Fund’s aggregate purchases and sales of investment securities (excluding short-term investments) were as follows:

	Amount
Cost of Purchases Excluding U.S. Government Obligations	$	3,630
Sales Proceeds Excluding U.S. Government Obligations		449

7.	Capital Share Transactions:
	The following information is for the six-month period ended April 30, 2009.

	For the Six-Month Period Ended 4/30/2009
			Shares					Shares
			Issued for					Issued		Net Increase
	Shares		Reinvested		Shares			from		(Decrease) of
	Sold		Dividends		Redeemed			Merger		Shares
Class R3
Shares		129		1		(10	)		—		120
Amount	$	1,260	$	11	$	(97	)	$	—	$	1,174
Class R4
Shares		100		1		—			—		101
Amount	$	1,000	$	12	$	—		$	—	$	1,012
Class R5
Shares		100		1		—			—		101
Amount	$	1,000	$	12	$	—		$	—	$	1,012

8.

Line of Credit:

The Fund is one of several Hartford Funds that participate in a $500 million committed revolving line of credit facility. The facility is to be used for temporary or emergency purposes. Under the arrangement, the Fund is required to own securities having a market value in excess of 300% of the total bank borrowings. The interest rate on borrowings varies depending on the nature of the loan. The facility also requires a fee to be paid based on the amount of the commitment. During the six-month period ended April 30, 2009, the Fund did not have any borrowings under this facility.

14

The Hartford Target Retirement 2015 Fund

Financial Highlights — (Unaudited)

- Selected Per-Share Data - (a)

- Ratios and Supplemental Data -

Ratio of

Ratio of

Ratio of

Expenses

Expenses

Expenses

to Average

to Average

to Average

Net Assets

Net Assets

Net Assets

Before

After

After

Net

Waivers

Waivers

Waivers

Realized

and

and

and

Ratio of

and Un-

Distrib-

Net

Reimburse-

Reimburse-

Reimburse-

Net

Net

Pay-

realized

Dividends

utions

Increase

Net

ments and

ments and

ments and

Invest-

Port-

Net Asset

Invest-

ments

Gain

from Net

from

Distri-

(Decrease)

Asset

Net Assets

Including

Including

Excluding

ment

folio

Value at

ment

from

(Loss) on

Total from

Invest-

Realized

butions

Total

in Net

Value at

at End of

Expenses

Expenses

Expenses

Income to

Turn-

Beginning

Income

(to)

Invest-

Investment

ment

Capital

from

Distri-

Asset

End of

Total

Period

not Subject

not Subject

not Subject

Average

over

Class

of Period

(Loss)

Affiliate

ments

Operations

Income

Gains

Capital

butions

Value

Period

Return(b)

(000’s)

to Cap(c)

to Cap(c)

to Cap(c)

Net Assets

Rate(d)

From (commencement of operations) October 31, 2008, through April 30, 2009 (Unaudited)

R3

$

10.00

$

0.15

$

—

$

(0.16

)

$

(0.01

)

$

(0.11

)

$

—

$

—

$

(0.11

)

$

(0.12

)

$

9.88

0.01

%(e)

$

1,189

2.41

%(f)

0.38

%(f)

0.38

%(f)

3.27

%(f)

18

%

R4

10.00

0.17

—

(0.16

)

0.01

(0.12

)

—

—

(0.12

)

(0.11

)

9.89

0.16

(e)

1,001

2.09

(f)

0.08

(f)

0.08

(f)

3.68

(f)

—

R5

10.00

0.17

—

(0.16

)

0.01

(0.12

)

—

—

(0.12

)

(0.11

)

9.89

0.17

(e)

1,002

1.79

(f)

0.03

(f)

0.03

(f)

3.73

(f)

—

(a)	Information presented relates to a share outstanding throughout the indicated period.
(b)	Assumes initial investment at net asset value at the beginning of each period, reinvestment of all distributions, the complete redemption of the investment at net asset value at the end of each period and no sales charge. Total return would be reduced if sales charges were taken into account.
(c)	Expense ratios do not include expenses of the underlying funds.
(d)	Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between the classes of shares issued.
(e)	Not annualized.
(f)	Annualized.

15

The Hartford Target Retirement 2015 Fund

Directors and Officers (Unaudited)

The Board of Directors appoints officers who are responsible for the day-to-day operations of the Fund and who execute policies formulated by the Directors. Each director serves until his or her death, resignation, or retirement or until the next annual meeting of shareholders is held or until his or her successor is elected and qualifies.

Directors and officers who are employed by or who have a financial interest in The Hartford are considered “interested” persons of the Fund pursuant to the Investment Company Act of 1940, as amended. Each officer and three of the Fund’s directors, as noted in the chart below, are “interested” persons of the Fund. Each director serves as a director for The Hartford Mutual Funds, Inc., The Hartford Mutual Funds II, Inc., The Hartford Income Shares Fund, Inc., Hartford Series Fund, Inc., and Hartford HLS Series Fund II, Inc., which collectively consist of 100 funds. Correspondence may be sent to directors and officers c/o Hartford Mutual Funds, P.O. Box 2999, Hartford, Connecticut 06104-2999, except that correspondence to Ms. Fagely may be sent to 500 Bielenberg Drive, Woodbury, Minnesota 55125.

The table below sets forth, for each director and officer, his or her name, year of birth, current position with the Fund and date first elected or appointed to The Hartford Mutual Funds, Inc. (“MF”) and The Hartford Mutual Funds II, Inc. (“MF2”), principal occupation, and, for directors, other directorships held. The Fund’s statement of additional information contains further information on the directors and is available free of charge by calling 1-888-843-7824 or writing to Hartford Mutual Funds, P.O. Box 64387, St. Paul, MN 55164-0387.

Information on the aggregate remuneration paid to the directors of the Fund can be found in the Statement of Operations herein. The Fund pays a portion of the Chief Compliance Officer’s compensation, but does not pay salaries or compensation to any of its officers or directors who are employed by The Hartford.

Non-Interested Directors

Lynn S. Birdsong (1946) Director since 2003, Co-Chairman of the Investment Committee

Mr. Birdsong is a private investor. Since 1981, Mr. Birdsong has been a partner in Birdsong Company, an advertising specialty firm. Since 2003, Mr. Birdsong has been an independent director of The Japan Fund. From 2003 to March 2005, Mr. Birdsong was an independent director of the Atlantic Whitehall Funds. From 1979 to 2002, Mr. Birdsong was a managing director of Zurich Scudder Investments, an investment management firm. During his employment with Scudder, Mr. Birdsong was an interested director of The Japan Fund.

Robert M. Gavin, Jr. (1940) Director since 2002 (MF) and 1986 (MF2), Chairman of the Board since 2004

Dr. Gavin is an educational consultant. Prior to September 1, 2001, he was President of Cranbrook Education Community and prior to July 1996, he was President of Macalester College, St. Paul, Minnesota.

Duane E. Hill (1945) Director since 2001 (MF) and 2002 (MF2), Chairman of the Nominating Committee

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

Sandra S. Jaffee (1941) Director since 2005

Ms. Jaffee is Chairman and Chief Executive Officer of Fortent (formerly Searchspace Group), a leading provider of compliance/regulatory technology to financial institutions. Ms. Jaffee served as an Entrepreneur in Residence with Warburg Pincus, a private equity firm, from August 2004 to August 2005. From September 1995 to July 2004, Ms. Jaffee served as Executive Vice President at Citigroup, where she was President and Chief Executive Officer of Citibank’s Global Securities Services (1995-2003).

William P. Johnston (1944) Director since 2005, Chairman of the Compliance Committee

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

16

Phillip O. Peterson (1944) Director since 2002 (MF) and 2000 (MF2), Chairman of the Audit Committee

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

Lemma W. Senbet (1946) Director since 2005

Dr. Senbet is the William E. Mayer Chair Professor of Finance at the University of Maryland, Robert H. Smith School of Business. He was chair of the Finance Department during 1998-2006. Previously he was an endowed professor of finance at the University of Wisconsin-Madison. Also, he was director of the Fortis Funds from March 2000-July 2002. Dr. Senbet served the finance profession in various capacities, including as director of the American Finance Association and President of the Western Finance Association. In 2006, Dr. Senbet was inducted Fellow of Financial Management Association International for his career-long distinguished scholarship and professional service.

Interested Directors and Officers

Thomas M. Marra* (1958) Director since 2002

Mr. Marra has served as President and Chief Operating Officer of The Hartford Financial Services Group, Inc. (“The Hartford”) since 2007. Mr. Marra currently serves as Director of Hartford Life, Inc. (“HL, Inc.”). Mr. Marra served as Chief Operating Officer of Hartford Life Insurance Company, Inc. (“Hartford Life”) (2000-2008), as President of Hartford Life (2002-2008) and as Director of Hartford Life’s Investment Products Division from 1998 to 2000.

* On February 24, 2009, The Hartford and Mr. Marra determined to enter into a mutually agreed separation whereby Mr. Marra will retire, and his role as an executive officer and employee of The Hartford will terminate, effective July 3, 2009. Mr. Marra will resign his position as a Director of the Fund effective June 25, 2009.

Lowndes A. Smith (1939) Director since 2002, Co-Chairman of the Investment Committee

Mr. Smith served as Vice Chairman of The Hartford from February 1997 to January 2002, as President and Chief Executive Officer of Hartford Life, Inc. from February 1997 to January 2002, and as President and Chief Operating Officer of The Hartford Life Insurance Companies from January 1989 to January 2002. Mr. Smith serves as a Director of White Mountains Insurance Group, Ltd., One Beacon Insurance, Symetra Financial and as a Managing Director of Whittington Gray Associates.

John C. Walters* (1962) Director since 2008

Mr. Walters currently serves as Chief Executive Officer, President and Director of HL, Inc. Mr. Walters previously served as President of the U.S. Wealth Management Division of Hartford Life, Inc., as Co-Chief Operating Officer of Hartford Life Insurance Company (2007-2008) and as Executive Vice President and Director of its Investment Products Division (2000-2008). Mr. Walters also serves as Chairman of the Board, Chief Executive Officer, President and Director of Hartford Life Insurance Company and as Executive Vice President of The Hartford. In addition, Mr. Walters is Manager of HL Investment Advisors, LLC (“HL Advisors”).

* Mr. Walters previously served as President and Chief Executive Officer of the Fund (2007 — 2009).

Other Officers

Robert M. Arena, Jr. (1968) President and Chief Executive Officer since 2009 (served as Vice President of the Fund (2006 — 2009))

Mr. Arena serves as Executive Vice President of Hartford Life Insurance Company, (“Hartford Life”). Additionally, Mr. Arena is Director and Senior Vice President of Hartford Administrative Services Company, (“HASCO”), Manager, Chief Executive Officer and President of Hartford Investment Financial Services, LLC (“HIFSCO”) and HL Advisors. Prior to joining The Hartford in 2004, he was Senior Vice President in charge of Product Management for American Skandia/Prudential in the individual annuities division. Mr. Arena joined American Skandia in 1996.

Tamara L. Fagely (1958) Vice President, Treasurer and Controller since 2002 (MF) 1993 (MF2)

Ms. Fagely has been a Vice President of HASCO since 1998 and Chief Financial Officer since 2006. Currently Ms. Fagely is a Vice President of Hartford Life. She served as Assistant Vice President of Hartford Life from December 2001 through March 2005. In addition, Ms. Fagely is Controller and Chief Financial Officer of HIFSCO.

Brian Ferrell (1962) AML Compliance Officer since 2008

Mr. Ferrell has served as Assistant Vice President and AML Compliance Officer for The Hartford since 2006 and as AML Compliance Officer for HASCO and Hartford Investor Services Company, LLC (“HISC”) since 2008. Prior to joining The Hartford in 2006, Mr. Ferrell held various positions at the U.S. Department of the Treasury, (the “Treasury”), from 2001 to 2006 where he served as Chief Counsel for the Treasury’s Financial Crimes Enforcement Network, (“FinCEN”) from 2005 — 2006.

17

The Hartford Target Retirement 2015 Fund
Directors and Officers (Unaudited) — (continued)

Thomas D. Jones, III (1965) Vice President and Chief Compliance Officer since 2006

Mr. Jones serves as Chief Compliance Officer for the Hartford Mutual Funds and Vice President and Director of Securities Compliance for The Hartford. He is also Vice President of HIFSCO, HL Advisors, and Hartford Life Insurance Company. Mr. Jones joined The Hartford in 2006 from SEI Investments, where he served as Chief Compliance Officer for its mutual funds and investment advisers. Prior to joining SEI, Mr. Jones was First Vice President and Compliance Director for Merrill Lynch Investment Managers (Americas) (“MLIM”), where he worked from 1992-2004. At MLIM, Mr. Jones was responsible for the compliance oversight of various investment products, including mutual funds, wrap accounts, institutional accounts and alternative investments.

Edward P. Macdonald (1967) Vice President, Secretary and Chief Legal Officer since 2005

Mr. Macdonald serves as Assistant General Counsel and Assistant Vice President of The Hartford and Chief Legal Officer and Vice President of HIFSCO. He also serves as Vice President and Secretary of HASCO, Assistant Vice President of Hartford Life, and Chief Legal Officer, Secretary and Vice President of HL Advisors. Prior to joining The Hartford in 2005, Mr. Macdonald was Chief Counsel, Investment Management for Prudential Financial (formerly American Skandia Investment Services, Inc.). He joined Prudential in April 1999.

Vernon J. Meyer (1964) Vice President since 2006

Mr. Meyer serves as Senior Vice President of Hartford Life and as Director of its Investment Advisory Group in the Individual Markets Group segment. He also serves as Senior Vice President of HIFSCO and HL Advisors. Prior to joining The Hartford in 2004, Mr. Meyer was with MassMutual which he joined in 1987.

D. Keith Sloane (1960) Vice President since 2009

Mr. Sloane is a Senior Vice President of Hartford Life where he serves as Director of mutual fund product management for The Hartford’s mutual funds and 529 college savings businesses. Additionally, Mr. Sloane currently serves as Senior Vice President of HIFSCO, HL Advisors, and HASCO. Prior to joining The Hartford in 2007, Mr. Sloane was Director of product marketing and led the mutual fund business for Wachovia Securities (“Wachovia”) in their investment products group. Mr. Sloane joined Wachovia in 1995.

Jane Wolak (1961) Vice President since 2009

Ms. Wolak currently serves as Vice President of Hartford Life. Ms. Wolak joined Hartford Life as Vice President, Retail Product Services in May 2007. She is also Vice President of HASCO. Previously, Ms. Wolak was with Sun Life Financial where she held the position of Vice President, Service Center Operations from 2001 — 2007.

HOW TO OBTAIN A COPY OF THE FUND’S PROXY VOTING POLICIES AND VOTING RECORDS

A description of the policies and procedures that the Fund uses to determine how to vote proxies relating to portfolio securities and a record of how the Fund voted any proxies for the twelve-month period ended June 30, 2008 is available (1) without charge, upon request, by calling
888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov.

QUARTERLY PORTFOLIO HOLDINGS INFORMATION

The Fund files a complete schedule of portfolio holdings with the Commission for the first and third quarters of each fiscal year on Form N-Q. The Fund’s Forms are available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov. The Form N-Q may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330.

18

The Hartford Target Retirement 2015 Fund

Expense Example (Unaudited)

Your Fund’s Expenses

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments and contingent deferred sales charges (CDSC) (2) ongoing costs including management fees; distribution fees; and other fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the period of October 31, 2008 through April 30, 2009.

Actual Expenses

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

Hypothetical Example for Comparison Purposes

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

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads) and CDSC. Therefore, the second line 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 are equal to the Fund’s annualized expense ratios multiplied by average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

	Actual return						Hypothetical (5% return before expenses)
					Expenses paid						Expenses paid					Days in
					during the period						during the period					the		Days
	Beginning		Ending Account		October 31, 2008		Beginning		Ending Account		October 31,		Annualized			current		in the
	Account Value		Value		through		Account Value		Value		2008 through		expense			1/2		full
	October 31, 2008		April 30, 2009		April 30, 2009		October 31, 2008		April 30, 2009		April 30, 2009		ratio			year		year
Class R3	$	1,000.00	$	1,000.06	$	1.88	$	1,000.00	$	1,022.91	$	1.90		0.38	%		181		365
Class R4	$	1,000.00	$	1,001.62	$	0.39	$	1,000.00	$	1,024.39	$	0.40		0.08			181		365
Class R5	$	1,000.00	$	1,001.70	$	0.14	$	1,000.00	$	1,024.64	$	0.15		0.03			181		365

19

The Hartford Target Retirement 2020 Fund

Table of Contents

Manager Discussions (Unaudited)	2
Financial Statements
Schedule of Investments at April 30, 2009 (Unaudited)	4
Statement of Assets and Liabilities at April 30, 2009 (Unaudited)	5
Statement of Operations for the Six Month Period Ended April 30, 2009 (Unaudited)	6
Statement of Changes in Net Assets for the Six Month Period Ended April 30, 2009 (Unaudited) and the Year Ended October 31, 2008	7
Notes to Financial Statements (Unaudited)	8
Financial Highlights (Unaudited)	17
Directors and Officers (Unaudited)	18
How to Obtain a Copy of the Fund’s Proxy Voting Policies and Proxy Voting Records (Unaudited)	20
Quarterly Portfolio Holdings Information (Unaudited)	20
Expense Example (Unaudited)	21

The Hartford Target Retirement 2020 Fund
(subadvised by Hartford Investment Management Company)

Performance Overview(1) 9/30/05 — 4/30/09
Growth of a $10,000 investment in Class A which includes Sales Charge

Barclays Capital U.S. Aggregate Bond Index is an unmanaged index and is composed of securities from the Barclays Capital Government/Credit Bond Index, Mortgage-Backed Securities Index, Asset-Backed Securities Index and Commercial Mortgage-Backed Securities Index.

S&P 500 Index is a market capitalization weighted price index composed of 500 widely held common stocks.

You cannot invest directly in an index.

The value of shares will fluctuate so that, when redeemed, shares may be worth more or less than their original cost. The chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.

Investment objective — Seeks to maximize total return and secondarily, to seek capital preservation.

Average Annual Total Returns(2,3,4) (as of 4/30/09)

	Inception		1			Since
	Date		Year			Inception
Target Retirement 2020 A#		9/30/05		-28.45	%		-4.64	%
Target Retirement 2020 A##		9/30/05		-32.39	%		-6.14	%
Target Retirement 2020 B#		9/30/05		-28.96	%		-5.35	%
Target Retirement 2020 B##		9/30/05		-32.46	%		-6.07	%
Target Retirement 2020 C#		9/30/05		-29.05	%		-5.38	%
Target Retirement 2020 C##		9/30/05		-29.75	%		-5.38	%
Target Retirement 2020 R3#		9/30/05		-28.77	%		-4.81	%
Target Retirement 2020 R4#		9/30/05		-28.50	%		-4.61	%
Target Retirement 2020 R5#		9/30/05		-28.33	%		-4.45	%
Target Retirement 2020 Y#		9/30/05		-28.31	%		-4.38	%

#	Without sales charge
##	With sales charge

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)	Growth of a $10,000 investment in Classes B, C, R3, R4, R5 and Y shares will vary from results seen above due to differences in the expenses charged to these share classes.
(2)	Class R3, R4 and R5 shares commenced operations on 12/22/06. Performance prior to 12/22/06 reflects Class Y performance.
(3)	The initial investment in Class A shares reflects the maximum sales charge and Classes B and C reflect CDSC.
(4)	Total returns presented above were calculated using the Fund’s net asset value available to shareholders for sale or redemption of Fund shares on April 30, 2009, which excludes investment transactions as of this date.

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

Portfolio Managers
Hugh Whelan, CFA	Edward C. Caputo, CFA
Managing Director	Vice President

How did the Fund perform?

The Class A shares of The Hartford Target Retirement 2020 Fund returned 0.04%, before sales charge, for the six-month period ended April 30, 2009. In comparison, its benchmarks, the S&P 500 Index and the Barclays Capital U.S. Aggregate Bond Index, returned -8.53% and 7.74%, respectively, while the average return of the Lipper Mixed-Asset Target 2020 Funds category, a group of funds with investment strategies similar to those of the Fund, was -1.19%.

Why did the Fund perform this way?

The U.S. recession continued to deepen during the six-month period under review. Rising unemployment weighed on personal income and spending, while first quarter industrial production posted the steepest quarterly decline in more than 30 years. However, as the six-month period drew to a close, there were some signs that perhaps the rate of economic decline was beginning to slow. Financial conditions stabilized a bit, while the Federal Reserve’s purchases of long-term Treasuries and mortgage-backed securities also provided strong support for the mortgage market, driving fixed mortgage rates lower. Generally, the Fund’s target asset allocation is set at approximately 69% equities and 31% fixed-income.

This environment initially created another difficult period for stocks, with the S&P 500 Index closing at a new low of 676.53 on March 9, down -29.30% since the start of the 6-month period. However, emergent signs of a slowdown in the economy’s free-fall helped lift the index through the remainder of the period, leaving it down -8.53% for the period. The index

2

was in the black in March and April, gaining 8.76% and 9.57%, respectively, for a gain of 29.38% from March 9 through the end of the period. Declines were widespread across most equity asset classes during the six-month period. Among the eleven equity asset classes in our investment universe, emerging market stocks, EAFE small cap stocks, and U.S. midcap growth stock indices posted positive returns over the
6-month period. U.S. Real-Estate Investment Trusts (REITS) led the way lower during the period, while growth stocks continued to outperform value stocks across all market capitalization levels. International stocks outperformed U.S. stocks.

In fixed income, five and ten year Treasury yields increased during the 6-month period. Within the major sectors of the Barclays Capital U.S. Aggregate Bond Index, investment grade credit was the top performer at 11.47%, while commercial mortgage backed securities (CMBS) were the weakest performer at 1.32%. In the high yield asset classes, high yield bonds and emerging markets debt both outperformed the Barclays Capital U.S. Aggregate Bond Index, while floating rate notes did not. In addition, Treasury Inflation-Protection Securities (TIPS) were the best performing investment grade asset class in our investment universe at 9.46%.

There are two main drivers of the Fund’s performance: asset allocation among various asset classes and performance of the underlying funds. With regard to asset allocation, the Fund maintains relatively fixed exposures to the equity and fixed income markets. Therefore, we seek to add value by strategically allocating within the equity and fixed income investment sub asset classes. Our asset allocation decisions over the period improved the Fund’s performance.

Concerning the Fund’s equity exposure, favorable allocations to emerging market stocks and international small cap stocks helped offset unfavorable allocations to U.S. stocks. By design, the Fund also maintains exposure to various fixed income asset classes to deliver a well diversified portfolio solution. Favorable allocations to TIPS failed to offset the impact of unfavorable allocations to floating rate notes.

Beyond the asset allocation decision, we also seek to add value by selecting the underlying mutual funds that will most effectively deliver the target asset class exposures. We analyze all of the funds in our investment universe, looking through each fund’s objectives and stated benchmark to see what it actually holds and how it really behaves. During the period, the Fund benefited from underlying fund selection.

During the period, the Fund continued to utilize Exchange-Traded Funds (ETFs) to obtain asset class exposures otherwise unavailable through The Hartford family of funds. Specifically, the Fund has target allocations to ETFs that provide U.S. real estate and international real estate exposure, as well as emerging market debt exposure.

Whenever possible, we rely on cash flows to execute our allocation changes. During the period, a hard rebalance (i.e. a fund rebalancing to move the underlying fund investments to their target allocation percentages) was executed to bring the fund allocations closer to their targets. In addition, we have changed the target allocation to stocks and bonds from 71% stock and 29% bond to 69% stock and 31% bond.

What is the outlook?

In fixed income, risk premiums (the additional compensation paid to investors to tolerate the increased level of risk in a given asset class relative to Treasuries) across most asset classes reversed course and began to contract as conditions improved and volatility declined. An onslaught of government policy, from fiscal stimulus to quantitative easing, was the primary catalyst and buyers of historically inexpensive corporate debt emerged as more market participants recognized relative value versus equities. Although risk premiums have come off their historical peak, spreads remain significantly wider (i.e. short and long term interest rates farther apart) than in prior recessions.

In equities the earnings picture is cloudy. First, earnings are falling at near record-breaking rates and all indications are that they will continue to fall. Second, the quality and reliability of the earnings reported is lower than historical standards as the gap between pro forma (“street”) earnings and GAAP (Generally Accepted Accounting Principles) earnings rose in the past several months. Third, there is little clarity in future earnings prospects as the disparity among analyst estimates for future earnings remains at elevated levels. Historically, such consensus building was a precondition to the final, sustained recovery from bear markets associated with recessions.

That said, we believe that investors are well served by adhering to a strategic, diversified portfolio and rebalancing accordingly. We construct these portfolios based upon the long-term properties of asset classes. We look at their long-term returns, volatilities, and correlations between each other and run optimizations to build an optimal portfolio.

Composition by Underlying Fund
as of April 30, 2009

	Percentage of Net
Fund Name	Assets
Powershares Emerging Markets Sovereign Debt Portfolio ETF		0.0	%
SPDR DJ Wilshire International Real Estate ETF		0.7
SPDR DJ Wilshire REIT ETF		1.0
State Street Bank Money Market Fund		0.0
The Hartford Capital Appreciation Fund, Class Y		14.8
The Hartford Capital Appreciation II Fund, Class Y		3.0
The Hartford Disciplined Equity Fund, Class Y		2.8
The Hartford Dividend and Growth Fund, Class Y		3.0
The Hartford Equity Income Fund, Class Y		2.9
The Hartford Floating Rate Fund, Class Y		0.6
The Hartford Fundamental Growth Fund, Class Y		0.6
The Hartford Global Growth Fund, Class Y		2.4
The Hartford Growth Fund, Class Y		4.7
The Hartford Growth Opportunities Fund, Class Y		3.3
The Hartford High Yield Fund, Class Y		3.6
The Hartford Income Fund, Class Y		0.3
The Hartford Inflation Plus Fund, Class Y		7.3
The Hartford International Opportunities Fund, Class Y		4.5
The Hartford International Small Company Fund, Class Y		4.7
The Hartford MidCap Fund, Class Y		0.9
The Hartford Select MidCap Value Fund, Class Y		1.2
The Hartford Select SmallCap Value Fund, Class Y		3.6
The Hartford Short Duration Fund, Class Y		2.9
The Hartford Small Company Fund, Class Y		1.9
The Hartford Strategic Income Fund, Class Y		7.6
The Hartford Total Return Bond Fund, Class Y		7.4
The Hartford Value Fund, Class Y		14.1
Other Assets and Liabilities		0.2
Total		100.0	%

3

The Hartford Target Retirement 2020 Fund

Schedule of Investments

April 30, 2009 (Unaudited)

(000’s Omitted)

Shares or Principal Amount					Market Value ╪
AFFILIATED INVESTMENT COMPANIES - 98.1%
EQUITY FUNDS - 68.4%
	198	The Hartford Capital Appreciation Fund, Class Y			$	4,896
	112	The Hartford Capital Appreciation II Fund, Class Y •				999
	102	The Hartford Disciplined Equity Fund, Class Y				926
	71	The Hartford Dividend and Growth Fund, Class Y				973
	105	The Hartford Equity Income Fund, Class Y				945
	27	The Hartford Fundamental Growth Fund, Class Y •				203
	72	The Hartford Global Growth Fund, Class Y •				787
	129	The Hartford Growth Fund, Class Y				1,559
	61	The Hartford Growth Opportunities Fund, Class Y •				1,094
	147	The Hartford International Opportunities Fund, Class Y				1,491
	196	The Hartford International Small Company Fund, Class Y				1,532
	19	The Hartford MidCap Fund, Class Y •				290
	61	The Hartford Select MidCap Value Fund, Class Y				386
	180	The Hartford Select SmallCap Value Fund, Class Y				1,193
	47	The Hartford Small Company Fund, Class Y •				611
	578	The Hartford Value Fund, Class Y				4,656
		Total equity funds (cost $30,392)			$	22,541
FIXED INCOME FUNDS - 29.7%
	27	The Hartford Floating Rate Fund, Class Y			$	199
	208	The Hartford High Yield Fund, Class Y				1,188
	12	The Hartford Income Fund, Class Y				101
	225	The Hartford Inflation Plus Fund, Class Y				2,414
	106	The Hartford Short Duration Fund, Class Y				963
	326	The Hartford Strategic Income Fund, Class Y				2,517
	252	The Hartford Total Return Bond Fund, Class Y				2,424
		Total fixed income funds (cost $10,299)			$	9,806
		Total investments in affiliated investment companies (cost $40,691)			$	32,347
EXCHANGE TRADED FUNDS - 1.7%
	1	Powershares Emerging Markets Sovereign Debt Portfolio ETF			$	12
	9	SPDR DJ Wilshire International Real Estate ETF				219
	9	SPDR DJ Wilshire REIT ETF				330
		Total exchange traded funds (cost $648)			$	561
		Total long-term investments (cost $41,339)			$	32,908
SHORT - TERM INVESTMENT - —%
	—	State Street Bank Money Market Fund			$	—
		Total short-term investments (cost $—)			$	—
		Total investments (cost $41,339) ▲	99.8	%	$	32,908
		Other assets and liabilities	0.2	%		76
		Total net assets	100.0	%	$	32,984

Note:	Percentage of investments as shown is the ratio of the total market value to total net assets.
▲	At April 30, 2009, the cost of securities for federal income tax purposes was $41,564 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	372
Unrealized Depreciation		(9,028	)
Net Unrealized Depreciation	$	(8,656	)

•	Currently non-income producing.
╪	See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of securities.

FAS 157 Disclosure of Investment Valuation Hierarchy Levels

Assets:
Investment in securities — Level 1	$	32,908
Total	$	32,908

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

4

The Hartford Target Retirement 2020 Fund

Statement of Assets and Liabilities

April 30, 2009 (Unaudited)

(000’s Omitted)

Assets:
Investments in securities, at fair value (cost $648)	$	561
Investments in underlying affiliated funds, at fair value (cost $40,691)		32,347
Receivables:
Fund shares sold		50
Dividends and interest		31
Other assets		54
Total assets		33,043
Liabilities:
Payables:
Investment securities purchased		47
Fund shares redeemed		4
Investment management fees		1
Distribution fees		1
Accrued expenses		6
Total liabilities		59
Net assets	$	32,984
Summary of Net Assets:
Capital stock and paid-in-capital		45,130
Accumulated undistributed net investment income		131
Accumulated net realized loss on investments		(3,846	)
Unrealized depreciation of investments		(8,431	)
Net assets	$	32,984
Shares authorized		950,000
Par value	$	0.001
Class A: Net asset value per share/Maximum offering price per share	$	7.45/$7.88
Shares outstanding		1,724
Net assets	$	12,839
Class B: Net asset value per share	$	7.44
Shares outstanding		87
Net assets	$	648
Class C: Net asset value per share	$	7.42
Shares outstanding		133
Net assets	$	989
Class R3: Net asset value per share	$	7.43
Shares outstanding		61
Net assets	$	450
Class R4: Net asset value per share	$	7.44
Shares outstanding		1,506
Net assets	$	11,208
Class R5: Net asset value per share	$	7.45
Shares outstanding		918
Net assets	$	6,841
Class Y: Net asset value per share	$	7.45
Shares outstanding		1
Net assets	$	9

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

5

The Hartford Target Retirement 2020 Fund

Statement of Operations

For the Six Month Period Ended April 30, 2009 (Unaudited)

(000’s Omitted)

Investment Income:
Dividends	$	11
Dividends from underlying affiliated funds		507
Total investment income		518
Expenses:
Investment management fees		22
Transfer agent fees		8
Distribution fees
Class A		15
Class B		3
Class C		5
Class R3		—
Class R4		11
Custodian fees		—
Accounting services		2
Registration and filing fees		33
Board of Directors’ fees		1
Audit fees		3
Other expenses		16
Total expenses (before waivers)		119
Expense waivers		(90	)
Transfer agent fee waivers		—
Total waivers		(90	)
Total expenses, net		29
Net investment income		489
Net Realized Loss on Investments:
Net realized loss on investments in underlying affiliated funds		(2,106	)
Net Realized Loss on Investments		(2,106	)
Net Changes in Unrealized Appreciation of Investments:
Net unrealized appreciation of investments		1,879
Net Changes in Unrealized Appreciation of Investments		1,879
Net Loss on Investments		(227	)
Net Increase in Net Assets Resulting from Operations	$	262

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

6

The Hartford Target Retirement 2020 Fund

Statement of Changes in Net Assets

(000’s Omitted)

	For the Six-Month
	Period Ended			For the
	April 30, 2009			Year Ended
	(Unaudited)			October 31, 2008
Operations:
Net investment income	$	489		$	536
Net realized loss on investments		(2,106	)		(1,289	)
Net unrealized appreciation (depreciation) of investments		1,879			(11,548	)
Net increase (decrease) in net assets resulting from operations		262			(12,301	)
Distributions to Shareholders:
From net investment income
Class A		(184	)		(697	)
Class B		(8	)		(25	)
Class C		(12	)		(21	)
Class R3		(1	)		(1	)
Class R4		(125	)		(124	)
Class R5		(92	)		(76	)
Class Y		—			(1	)
From net realized gain on investments
Class A		—			(138	)
Class B		—			(6	)
Class C		—			(5	)
Class R4		—			(13	)
Total distributions		(422	)		(1,107	)
Capital Share Transactions:
Class A		(393	)		2,912
Class B		50			209
Class C		169			561
Class R3		344			73
Class R4		2,801			10,259
Class R5		712			8,615
Class Y		—			1
Net increase from capital share transactions		3,683			22,630
Net increase in net assets		3,523			9,222
Net Assets:
Beginning of period		29,461			20,239
End of period	$	32,984		$	29,461
Accumulated undistributed net investment income	$	131		$	64

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

7

The Hartford Target Retirement 2020 Fund

Notes to Financial Statements

April 30, 2009 (Unaudited)

(000’s Omitted)

1.	Organization:
	The Hartford Mutual Funds, Inc. (“Company”) is an open-end management investment company comprised of fifty-two portfolios. Financial statements for The Hartford Target Retirement 2020 Fund (the “Fund”), a series of the Company, are included in this report.
	The Company is organized under the laws of the State of Maryland and is registered with the Securities and Exchange Commission (“SEC”) under the Investment Company Act of 1940, as amended (“1940 Act”). The Fund is a diversified open-end management investment company.
	Class A shares are sold with a front-end sales charge of up to 5.50%. Class B shares are sold with a contingent deferred sales charge which is assessed on the lesser of the per share net asset value (“NAV”) of the shares at the time of redemption or the original purchase price, and declines from up to 5.00% to zero depending on the period of time the shares are held. Class C shares are sold with a contingent deferred sales charge of up to 1.00% on shares redeemed within twelve months of purchase. Classes R3, R4, R5 shares, which are offered to employer-sponsored retirement plans, and Class Y shares, which are sold to certain eligible institutional investors, are sold without a sales charge. All classes of shares have identical voting, redemption, dividend, liquidation and other rights and the same terms and conditions, with the exceptions that each class may have different expenses, which may affect performance, and except that Class B shares automatically convert to Class A shares after 8 years.
	The Fund, as a “Fund of Funds”, invests the majority of its assets in Class Y shares of other Hartford mutual funds (“Underlying Funds”) as well as certain exchange-traded funds (“ETFs”). The Fund seeks its investment goals through implementation of a strategic asset allocation recommendation provided by Hartford Investment Management Company (“Hartford Investment Management”), a wholly-owned subsidiary of The Hartford Financial Services Group, Inc. (“The Hartford”).
2.	Significant Accounting Policies:
	The accounting policies of the affiliated underlying funds are outlined in the shareholder reports for such funds, available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov. The reports may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330. The affiliated Underlying Funds are not covered by this report.
	The following is a summary of significant accounting policies of the Fund, which are in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”).

a)	Security Transactions and Investment Income — Security transactions are recorded on the trade date (the date the order to buy or sell is executed). Security gains and losses are determined on the basis of identified cost.
	Dividend income is accrued as of the ex-dividend date. Income and capital gain distributions from Underlying Funds are recorded on the ex-dividend date.
b)	Security Valuation — Investments in open-end mutual funds are valued at the respective NAV of each open-end mutual fund on the valuation date.
	The Fund generally uses market prices in valuing portfolio securities. If market prices are not readily available or are deemed unreliable, the Fund will use the fair value of the security as determined in good faith under policies and procedures established by and under the supervision of the Fund’s Board of Directors. Market prices may be deemed unreliable, for example, if a security is thinly traded or if an event has occurred after the close of the security’s primary

8

markets, but before the close of the New York Stock Exchange (the “Exchange”) (normally 4:00 p.m. Eastern Time, referred to as the “Valuation Time”) that is expected to affect the value of the portfolio security. The circumstances in which the Fund may use fair value pricing include, among others: (i) the occurrence of events that are significant to a particular issuer, such as mergers, restructuring or defaults; (ii) the occurrence of events that are significant to an entire market, such as natural disasters in a particular region or governmental actions; (iii) trading restrictions on securities; (iv) thinly traded securities and (v) market events such as trading halts and early market closings. In addition, with respect to the valuation of stocks primarily traded on foreign markets, the Fund uses a fair value pricing service approved by the Fund’s Board of Directors, which employs quantitative models that evaluate changes in the value of foreign market proxies (e.g., futures contracts, ADR’s, exchange traded funds (“ETF’s”)) after the close of the foreign markets but before the close of the Exchange. Securities that are primarily traded on foreign markets may trade on days that are not business days of the Fund. The value of the foreign securities in which the Fund invests may change on days when a shareholder will not be able to purchase or redeem shares of the Fund. Fair value pricing is subjective in nature and the use of fair value pricing by the Fund may cause the NAV of its shares to differ significantly from the NAV that would have been calculated using market prices at the close of the exchange on which a portfolio security is primarily traded but before the close of the Exchange. There can be no assurance that the Fund could obtain the fair value assigned to a security if the Fund were to sell the security at approximately the time at which the Fund determines its NAV.

Debt securities (other than short-term obligations and senior floating rate interests) held by the Fund are valued on the basis of valuations furnished by an independent pricing service which determines valuations for normal institutional size trading units of debt securities. Senior floating rate interests generally trade in over-the-counter markets and are priced through an independent pricing service utilizing independent market quotations from loan dealers or financial institutions. Securities for which prices are not available from an independent pricing service are valued using market quotations obtained from one or more dealers that make markets in the securities in accordance with procedures established by the Fund’s Board of Directors. Generally, the Fund may use fair valuation in regard to debt securities when the Fund holds defaulted or distressed securities or securities in a company in which a reorganization is pending. Short-term investments with a maturity of more than 60 days when purchased are valued based on market quotations until the remaining days to maturity become less than 61 days. Investments that mature in 60 days or less are valued at amortized cost, which approximates market value.

Exchange traded equity securities shall be valued at the last reported sale price on the exchange or market on which the security is primarily traded (the “Primary Market”) at the Valuation Time. If the security did not trade on the Primary Market, it may be valued at the Valuation Time at the last reported sale price on another exchange where it trades. The value of an equity security not traded on any exchange but traded on the Nasdaq Stock Market, Inc. (“Nasdaq”) or another over-the-counter market shall be valued at the last reported sale price or official closing price on the exchange or market on which the security is traded as of the Valuation Time. If it is not possible to determine the last reported sale price or official closing price on the relevant exchange or market at the Valuation Time, the value of the security shall be taken to be the most recent mean between bid and asked prices on such exchange or market at the Valuation Time.

Securities of foreign issuers and non-dollar securities are translated from the local currency into U.S. dollars using prevailing exchange rates.

Options contracts on securities, currencies, indexes, futures contracts, commodities and other instruments shall be valued at their most recent sales price at the Valuation Time on the Primary Market on which the instrument is primarily traded. If the instrument did not trade on the Primary Market, it may be valued at the most recent sales price at the Valuation Time on another exchange or market where it did trade.

Futures contracts are valued at the most recent settlement price reported by an exchange on which, over time, they are traded most extensively. If a settlement price is not available, futures contracts will be valued at the most recent trade price as of the Valuation Time. If there were no trades, the contract shall be valued at the mean of the closing bid/ask prices as of the Valuation Time.

9

The Hartford Target Retirement 2020 Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

	Financial instruments for which prices are not available from an independent pricing service are valued using market quotations obtained from one or more dealers that make markets in securities in accordance with procedures established by the Fund’s Board of Directors.
	A forward currency contract shall be valued based on the price of the underlying currency at the prevailing interpolated exchange rate, which is a combination of the spot currency rate and the forward currency rate. Spot currency rates and forward currency rates are obtained from an independent pricing service on a daily basis not more than one hour before the Valuation Time.
	Swaps are valued based on custom valuations furnished by an independent pricing service. Swaps for which prices are not available from an independent pricing service are valued in accordance with procedures established by the Fund’s Board of Directors.
	Other derivative or contractual type instruments shall be valued using market prices if such instruments trade on an exchange or market. If such instruments do not trade on an exchange or market, such instruments shall be valued at a price at which the counterparty to such contract would repurchase the instrument. In the event that the counterparty cannot provide a price, such valuation may be determined in accordance with procedures established by the Fund’s Board of Directors.
c)	Indexed Securities — The Fund may invest in indexed securities whose values are linked to changes in interest rates, indices, or other underlying instruments. The Fund uses these securities to increase or decrease its exposure to different underlying instruments and to gain exposure to markets that might be difficult to invest in using conventional securities. Indexed securities may be more volatile than their underlying instruments, but any loss is limited to the amount of the original investment and there may be a limit to the potential appreciation of the investment. The Fund had investments in indexed securities as of April 30, 2009, as shown on the Schedule of Investments under Exchange Traded Funds.
d)	Fund Share Valuation and Dividend Distributions to Shareholders — Orders for the Fund’s shares are executed in accordance with the investment instructions of the shareholders. The NAV of the Fund’s shares is determined as of the close of each business day of the Exchange. The NAV is determined separately for each class of the Fund by dividing the Fund’s net assets attributable to that class by the number of shares of the class outstanding. Orders for the purchase of the Fund’s shares prior to the close of the Exchange on any day on which the Exchange is open for business are priced at the NAV determined as of the close of the Exchange. Orders after the close of the Exchange, or on a day on which the Exchange and/or the Fund is not open for business, are priced at the next determined NAV.
	The Fund intends to distribute substantially all of its net investment income and net realized capital gains to shareholders no less frequently than once a year. Normally, dividends from net investment income of the Fund are declared and paid annually. Dividends are paid on shares beginning on the business day after the day when the funds used to purchase the shares are collected by the transfer agent for the Fund. Long-term capital gains distributions received from underlying funds are distributed at least annually, when required. Unless shareholders specify otherwise, all dividends and distributions will be automatically reinvested in additional full or fractional shares of the Fund.
	Distributions from net investment income, realized capital gains and capital are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP with respect to character and timing. These differences include but are not limited to foreign currency gains and losses, losses deferred due to wash sales adjustments, adjustments related to Passive Foreign Investment Companies and certain derivatives, and excise tax regulations. Permanent book and federal income tax basis differences relating to shareholder distributions will result in reclassifications to certain of the Fund’s capital accounts (see Federal Income Taxes: Reclassification of Capital Accounts footnote).
e)	Use of Estimates — The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial

10

	statements and the reported amounts of income and expenses during the period. Operating results in the future could vary from the amounts derived from management’s estimates.
f)	Financial Accounting Standards Board Financial Accounting Standards No. 157 — Effective November 1, 2008, the Fund adopted Financial Accounting Standards Board (“FASB”) Statement of Financial Accounting Standards No. 157, “Fair Value Measurements” (“FAS 157”). This standard clarifies the definition of fair value for financial reporting, establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements. Fair value is defined under FAS 157 as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Under FAS 157, a fair value measurement should reflect all of the assumptions that market participants would use in pricing the asset or liability, including assumptions about the risk inherent in a particular valuation technique, the effect of a restriction on the sale or use of an asset, and the risk of nonperformance.
	Various inputs are used in determining the value of the Fund’s investment. These inputs are summarized, per FAS 157, into three broad hierarchy levels. This hierarchy is based on whether the valuation inputs are observable or unobservable. These levels are:

• Level 1 — Quoted prices in active markets for identical securities. Level 1 includes exchange-traded instruments such as domestic equities, some foreign equities, options, futures, mutual funds, ETF’s, and rights and warrants.

• Level 2 — Observable inputs other than Level 1 prices, such as quoted prices for similar securities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the security. Level 2 includes debt securities that are traded less frequently than exchange-traded instruments and that are valued using third party pricing services and foreign equities, whose value is determined using a multi-factor regression model with inputs that are observable in the market; and money market instruments, which are carried at amortized cost.

• Level 3 — Significant unobservable inputs that are supported by little or no market activity. Level 3 includes financial instruments whose values are determined using broker quotes and require significant management judgment or estimation. This category includes broker quoted securities, long dated OTC options and securities where trading has been halted or there are certain restrictions on trading. While these securities are priced using unobservable inputs, the valuation of these securities reflects the best available data and management believes the prices are a good representation of exit price.

	Individual securities within any of the above mentioned asset classes may be assigned a different hierarchical level than those presented above, as individual circumstances dictate.
	FAS 157 also requires that a roll forward reconciliation be shown for all Level 3 securities from the beginning of the reporting period to the end of the reporting period. Part of this reconciliation includes transfers in and/or out of Level 3. For purposes of this reconciliation, transfers in are shown at the end of period fair value and transfers out are shown at the beginning of period fair value. During the six-month period ended April 30, 2009, the Fund held no Level 3 securities.
	FASB Staff Position No. 157-4 — In April 2009, FASB released FASB Staff Position No. 157-4, “Determining Fair Value When the Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly” (“FSP FAS 157-4”). FSP FAS 157-4 provides additional guidance on determining whether a market for a financial asset is not active and a transaction is not distressed when measuring fair value under FAS 157. The FSP also requires additional disclosure detail on debt and equity securities by major investment categories. FSP FAS 157-4 is effective for interim and annual periods ending after June 15, 2009. At this time, management is evaluating the implications of FSP FAS 157-4 and does not believe it will impact valuation but will require additional disclosure. This additional disclosure has not yet been implemented.
g)	Financial Accounting Standards Board Financial Accounting Standards No. 161 — In March 2008, the FASB released Statement of Financial Accounting Standards No. 161, “Disclosures about Derivative Instruments and Hedging

11

The Hartford Target Retirement 2020 Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

Activities” (“FAS 161”). FAS 161 requires companies to disclose information detailing the objectives and strategies for using derivative instruments, the level of derivative activity entered into by the company and any credit risk-related contingent features of the agreements. The application of FAS 161 is required for fiscal years and interim periods beginning after November 15, 2008. At this time, management is evaluating the implications of FAS 161 and has not yet implemented the new disclosure standard.

h)

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

3. Federal Income Taxes:

a)

Federal Income Taxes — For federal income tax purposes, the Fund intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code (“IRC”) by distributing substantially all of its taxable net investment income and net realized capital gains to its shareholders and otherwise complying with the requirements of regulated investment companies. The Fund has distributed substantially all of its income and capital gains in prior years and the Fund intends to distribute substantially all of its income and gains during the calendar year ending December 31, 2009. Accordingly, no provision for federal income or excise taxes has been made in the accompanying financial statements. Distributions from short-term capital gains are treated as ordinary income distributions for federal income tax purposes.

b)

The tax character of distributions paid by the Fund for the periods indicated is as follows (as adjusted for dividends payable):

	For the Year Ended		For the Year Ended
	October 31, 2008		October 31, 2007
Ordinary Income	$	1,016	$	188
Long-Term Capital Gains *		91		3

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

As of October 31, 2008, the Fund’s components of distributable earnings (deficit) on a tax basis were as follows:

	Amount
Undistributed Ordinary Income	$	64
Accumulated Capital Losses*	$	(1,515	)
Unrealized Depreciation†	$	(10,535	)
Total Accumulated Deficit	$	(11,986	)

*	The Fund has capital loss carryforwards that are identified in the Capital Loss Carryforward note that follows.
†	The differences between book-basis and tax-basis unrealized appreciation (depreciation) are attributable to the tax deferral of wash sales losses, the mark-to-market adjustment for certain derivatives in accordance with IRC Sec. 1256, the mark to market for Passive Foreign Investment Companies and basis differences in real estate investment trusts.

c) Reclassification of Capital Accounts — In accordance with American Institute of Certified Public Accountants (AICPA) Statement of Position 93-2, Determination, Disclosure, and Financial Statement Presentation of Income, Capital Gain, and Return of Capital Distributions by Investment Companies, the Fund has recorded reclassifications in its capital

12

accounts. These reclassifications had no impact on the NAV of the Fund. The reclassifications are a result of permanent differences between GAAP and tax accounting for such items as net operating losses that reduce distribution requirements. Adjustments are made to reflect the impact these items have on current and future distributions to shareholders. Therefore, the source of the Fund’s distributions may be shown in the accompanying Statement of Changes in Net Assets as from net investment income, from net realized gains on investments or from capital depending on the type of book and tax differences that exist. As of October 31, 2008, the Fund recorded reclassifications to increase undistributed net investment income by $448 and decrease accumulated net realized loss by $448.

d)

Capital Loss Carryforward — At October 31, 2008 (tax-year-end), the Fund had capital loss carryforwards for U.S. federal income tax purposes of approximately:

Year	Amount
2016	$	1,515
Total	$	1,515

e) Financial Accounting Standards Board Interpretation No. 48 — On July 13, 2006, the FASB released FASB Interpretation No. 48 “Accounting for Uncertainty in Income Taxes” (“FIN 48”). FIN 48 provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. The Fund adopted FIN 48 for fiscal years beginning after December 15, 2006. Management has evaluated the implications of FIN 48 for all open tax years (tax years ended October 31, 2006 — 2008) and has determined there is no impact to the Fund’s financial statements.

4. Expenses:

a)

Investment Management Agreements — Hartford Investment Financial Services, LLC (“HIFSCO”) serves as investment manager to the Fund pursuant to an Investment Management Agreement with The Hartford Mutual Funds, Inc. As investment manager, HIFSCO has overall investment supervisory responsibility for the Fund. In addition, HIFSCO provides administrative personnel, services, equipment, facilities and office space for proper operation of the Fund. HIFSCO has contracted with Hartford Investment Management for the provision of day-to-day investment management services to the Fund in accordance with the Fund’s investment objective and policies. The Fund pays a fee to HIFSCO, a portion of which may be used to compensate Hartford Investment Management.

The schedule below reflects the rates of compensation paid to HIFSCO for investment management services rendered during the six-month period ended April 30, 2009; the rates are accrued daily and paid monthly:

Average Daily Net Assets	Annual Fee
On first $500 million		0.15	%
On next $4.5 billion		0.10	%
On next $5 billion		0.08	%
Over $10 billion		0.07	%

b) Accounting Services Agreement — Pursuant to the Fund Accounting Agreement between Hartford Life Insurance Company (“HLIC”) and the Fund, HLIC provides accounting services to the Fund and receives monthly compensation on the Fund’s average net assets. The Fund’s accounting service fees are accrued daily and paid monthly.

Average Daily Net Assets	Annual Fee
On first $5 billion		0.012	%
Over $5 billion		0.010	%

13

The Hartford Target Retirement 2020 Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

c) Operating Expenses — Allocable expenses incurred by the Company are allocated to each Fund and allocated to classes within the Fund in proportion to the average daily net assets of the Fund and each class, except where allocation of certain expenses is more fairly made directly to the Fund or to specific classes within a Fund. During the six-month period ended April 30, 2009, HIFSCO has contractually limited the total operating expenses of this Fund, exclusive of taxes, interest expense, brokerage commissions, certain distribution expenses and extraordinary expenses as follows:

Class A	Class B			Class C			Class R3			Class R4			Class R5			Class Y
1.05%		1.80	%		1.80	%		1.20	%		0.90	%		0.85	%		0.85	%

	Voluntary limitations for total operating expenses include expenses incurred as the result of investing in other investment companies. Amounts incurred which exceed the above limits are deducted from expenses and are reported as waivers on the accompanying Statement of Operations.
d)	Distribution and Service Plan for Class A, B, C, R3 and R4 Shares — HIFSCO is the principal underwriter and distributor of the Fund. HIFSCO is engaged in distribution activities, which include marketing and distribution of shares through broker-dealers, financing distribution costs and maintaining financial books and records. For the six-month period ended April 30, 2009, HIFSCO received front-end load sales charges of $17 and contingent deferred sales charges of $1 from the Fund.
	The Fund has adopted Distribution and Service Plans in accordance with Rule 12b-1 of the Investment Company Act of 1940, as amended, to compensate the distributor (HIFSCO) for activities intended to result in the sale and distribution of Classes A, B, C, R3 and R4 shares and for providing services for shareholders. The Rule 12b-1 plan applicable to Class A shares of the Funds provides for payment of a Rule 12b-1 fee of up to 0.35% of average daily net assets; however, the Board of Directors has currently authorized 12b-1 payments of only up to 0.25%. Some or all of the fee may be used for shareholder servicing expenses with the remainder used for distribution expenses. Some or the entire Rule 12b-1 fee for Class B shares may be remitted to broker-dealers for distribution and/or shareholder account services. Under the Class B Plan, the Fund pays the distributor 1.00% of the average daily net assets of Class B shares that are outstanding for 8 years or less, 0.25% of which is a fee for services provided to existing shareholders with the remainder used for distribution expenses. After eight years, Class B shares convert to Class A shares. Upon conversion to Class A shares, the Class A plan described above will apply to those shares. Under the Class C Plan, the Fund pays the distributor 1.00% of the average daily net assets of Class C shares outstanding, 0.25% of which is intended as a fee for services provided to existing shareholders with the remainder used for distribution expenses. For Class C shares, some or the entire fee may be remitted to broker-dealers for distribution and/or shareholder account services. Class R3 shares have a distribution fee of 0.50% and Class R4 shares have a distribution fee of 0.25%. For Classes R3 and R4 shares, some or the entire fee may be remitted to broker dealers for distribution and/or shareholder account services. The Fund’s 12b-1 fees are accrued daily and paid monthly.
	For the six-month period ended April 30, 2009, total sales commissions paid to affiliated brokers/dealers of The Hartford for distributing the Fund’s shares were $2. These commissions are in turn paid to sales representatives of the broker/dealers.
e)	Other Related Party Transactions — Certain officers of the Fund are directors and/or officers of HIFSCO and/or The Hartford or its subsidiaries. For the six-month period ended April 30, 2009, a portion of the Fund’s chief compliance officer’s salary was paid by the Fund in an amount, which rounds to zero. Hartford Administrative Services Company (“HASCO”), an indirect wholly owned subsidiary of The Hartford, provides transfer agent services to the Fund. HASCO was compensated $8 for providing such services. These fees are accrued daily and paid monthly.

14

5.	Affiliate Holdings:
	As of April 30, 2009, affiliates of The Hartford had ownership of shares in the Fund as follows:

	Shares
Class Y		1

6.	Investment Transactions:
	For the six-month period ended April 30, 2009, the Fund’s aggregate purchases and sales of investment securities (excluding short-term investments) were as follows:

	Amount
Cost of Purchases Excluding U.S. Government Obligations	$	8,738
Sales Proceeds Excluding U.S. Government Obligations		4,968

7.	Capital Share Transactions:
	The following information is for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	For the Six-Month Period Ended April 30, 2009												For the Year Ended October 31, 2008
			Shares					Shares							Shares					Shares
			Issued for					Issued		Net Increase					Issued for					Issued		Net Increase
	Shares		Reinvested		Shares			from		(Decrease) of			Shares		Reinvested		Shares			from		(Decrease) of
	Sold		Dividends		Redeemed			Merger		Shares			Sold		Dividends		Redeemed			Merger		Shares
Class A
Shares		245		26		(331	)		—		(60	)		689		78		(499	)		—		268
Amount	$	1,707	$	184	$	(2,284	)	$	—	$	(393	)	$	7,073	$	834	$	(4,995	)	$	—	$	2,912
Class B
Shares		17		1		(11	)		—		7			50		3		(34	)		—		19
Amount	$	114	$	8	$	(72	)	$	—	$	50		$	511	$	29	$	(331	)	$	—	$	209
Class C
Shares		39		1		(18	)		—		22			73		2		(20	)		—		55
Amount	$	278	$	12	$	(121	)	$	—	$	169		$	708	$	26	$	(173	)	$	—	$	561
Class R3
Shares		55		—		(3	)		—		52			8		—		—			—		8
Amount	$	365	$	1	$	(22	)	$	—	$	344		$	72	$	1	$	—		$	—	$	73
Class R4
Shares		491		18		(100	)		—		409			1,212		14		(226	)		—		1,000
Amount	$	3,362	$	125	$	(686	)	$	—	$	2,801		$	12,434	$	137	$	(2,312	)	$	—	$	10,259
Class R5
Shares		193		13		(103	)		—		103			964		8		(158	)		—		814
Amount	$	1,335	$	92	$	(715	)	$	—	$	712		$	10,004	$	76	$	(1,465	)	$	—	$	8,615
Class Y
Shares		—		—		—			—		—			—		—		—			—		—
Amount	$	—	$	—	$	—		$	—	$	—		$	—	$	1	$	—		$	—	$	1

The following reflects the conversion of Class B Shares into Class A Shares (reflected as Class A Shares issued and Class B shares redeemed) for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	Shares		Dollars
For the Six-Month Period Ended April 30, 2009		7	$	49
For the Year Ended October 31, 2008		2	$	20

15

The Hartford Target Retirement 2020 Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

8.	Line of Credit:
	The Fund is one of several Hartford Funds that participate in a $500 million committed revolving line of credit facility. The facility is to be used for temporary or emergency purposes. Under the arrangement, the Fund is required to own securities having a market value in excess of 300% of the total bank borrowings. The interest rate on borrowings varies depending on the nature of the loan. The facility also requires a fee to be paid based on the amount of the commitment. During the six-month period ended April 30, 2009, the Fund did not have any borrowings under this facility.
9.	Proposed Reclassifications:
	At a meeting held on February 4, 2009, the Board of Directors of the Fund approved a transaction under which Class B shares and Class C shares of the Fund would become Class A shares of the Fund. Following the transaction, each shareholder owning Class B shares will own Class A shares equal to the aggregate value of their Class B shares and each shareholder owning Class C shares will own Class A shares equal to the aggregate value of their Class C shares (the “Reclassification”).
	Effective February 13, 2009, Class B shares and Class C shares of the Fund are no longer sold to new investors or existing shareholders (except through reinvested dividends) nor are they eligible for exchanges from other Hartford Mutual Funds.
	Shareholders of Class B and Class C shares are required to approve the Reclassifications. The Board of Directors of the Fund has called for a Special Joint Meeting of Shareholders of the Funds to be held on or about July 16, 2009, for the purpose of seeking the approval of the Reclassifications by the Class B and Class C shareholders of the Fund.
	If the Reclassifications are approved, sales charges will not be charged shareholders of Class B and Class C shares; contingent deferred sales charges for Class B and Class C shares will be waived; and distribution and service (12b-1) fees on shares classified as Class B and Class C shares before the Reclassifications will be reduced from 1.00% to 0.25% after the Reclassifications.

16

2

The Hartford Target Retirement 2020 Fund

Financial Highlights — (Unaudited)

	- Selected Per-Share Data - (a)																												- Ratios and Supplemental Data -
																																		Ratio of			Ratio of			Ratio of
																																		Expenses			Expenses			Expenses
																																		to Average			to Average			to Average
																																		Net Assets			Net Assets			Net Assets
																																		Before			After			After
							Net																											Waivers			Waivers			Waivers
							Realized																											and			and			and			Ratio of
							and Un-									Distrib-								Net										Reimburse-			Reimburse-			Reimburse-			Net
			Net		Pay-		realized						Dividends			utions								Increase			Net							ments and			ments and			ments and			Invest-			Port-
	Net Asset		Invest-		ments		Gain						from Net			from			Distri-					(Decrease)			Asset					Net Assets		Including			Including			Excluding			ment			folio
	Value at		ment		from		(Loss) on			Total from			Invest-			Realized			butions		Total			in Net			Value at					at End of		Expenses			Expenses			Expenses			Income to			Turn-
	Beginning		Income		(to)		Invest-			Investment			ment			Capital			from		Distri-			Asset			End of		Total			Period		not Subject			not Subject			not Subject			Average			over
Class	of Period		(Loss)		Affiliate		ments			Operations			Income			Gains			Capital		butions			Value			Period		Return(b)			(000’s)		to Cap(c)			to Cap(c)			to Cap(c)			Net Assets			Rate(d)
For the Six-Month Period Ended April 30, 2009 (Unaudited)
A	$	7.56	$	0.12	$	—	$	(0.12	)	$	—		$	(0.11	)	$	—		$	—	$	(0.11	)	$	(0.11	)	$	7.45		0.04%	(e)	$	12,839		0.80	%(f)		0.25	%(f)		0.25	%(f)		3.42	%(f)		17	%
B		7.56		0.10		—		(0.13	)		(0.03	)		(0.09	)		—			—		(0.09	)		(0.12	)		7.44		(0.27	) (e)		648		1.88	(f)		0.88	(f)		0.88	(f)		2.80	(f)		—
C		7.55		0.09		—		(0.13	)		(0.04	)		(0.09	)		—			—		(0.09	)		(0.13	)		7.42		(0.40	) (e)		989		1.77	(f)		0.99	(f)		0.99	(f)		2.60	(f)		—
R3		7.55		0.11		—		(0.13	)		(0.02	)		(0.10	)		—			—		(0.10	)		(0.12	)		7.43		(0.03	) (e)		450		1.28	(f)		0.40	(f)		0.40	(f)		2.11	(f)		—
R4		7.55		0.12		—		(0.12	)		—			(0.11	)		—			—		(0.11	)		(0.11	)		7.44		0.03	(e)		11,208		0.86	(f)		0.10	(f)		0.10	(f)		3.43	(f)		—
R5		7.56		0.13		—		(0.13	)		—			(0.11	)		—			—		(0.11	)		(0.11	)		7.45		0.10	(e)		6,841		0.56	(f)		0.05	(f)		0.05	(f)		3.57	(f)		—
Y		7.56		0.13		—		(0.13	)		—			(0.11	)		—			—		(0.11	)		(0.11	)		7.45		0.14	(e)		9		0.48	(f)		0.05	(f)		0.05	(f)		3.63	(f)		—
For the Year Ended October 31, 2008
A		11.68		0.26		—		(3.86	)		(3.60	)		(0.43	)		(0.09	)		—		(0.52	)		(4.12	)		7.56		(32.13	)		13,495		0.77			0.48			0.48			2.30			51
B		11.68		0.16		—		(3.84	)		(3.68	)		(0.35	)		(0.09	)		—		(0.44	)		(4.12	)		7.56		(32.64	)		604		1.76			1.26			1.26			1.34			—
C		11.67		0.24		—		(3.92	)		(3.68	)		(0.35	)		(0.09	)		—		(0.44	)		(4.12	)		7.55		(32.64	)		837		1.71			1.25			1.25			1.20			—
R3		11.67		0.35		—		(3.99	)		(3.64	)		(0.39	)		(0.09	)		—		(0.48	)		(4.12	)		7.55		(32.37	)		70		1.21			0.91			0.91			1.00			—
R4		11.67		0.37		—		(3.98	)		(3.61	)		(0.42	)		(0.09	)		—		(0.51	)		(4.12	)		7.55		(32.18	)		8,281		0.83			0.55			0.55			1.12			—
R5		11.68		0.39		—		(3.97	)		(3.58	)		(0.45	)		(0.09	)		—		(0.54	)		(4.12	)		7.56		(31.98	)		6,165		0.53			0.23			0.23			0.96			—
Y		11.68		0.29		—		(3.86	)		(3.57	)		(0.46	)		(0.09	)		—		(0.55	)		(4.12	)		7.56		(31.89	)		9		0.46			0.17			0.17			2.74			—
For the Year Ended October 31, 2007
A		10.43		0.24		—		1.29			1.53			(0.24	)		(0.04	)		—		(0.28	)		1.25			11.68		14.95			17,710		1.25			0.51			0.51			1.64			16
B		10.42		0.18		—		1.27			1.45			(0.15	)		(0.04	)		—		(0.19	)		1.26			11.68		14.09			717		2.25			1.26			1.26			1.38			—
C		10.42		0.17		—		1.28			1.45			(0.16	)		(0.04	)		—		(0.20	)		1.25			11.67		14.10			649		2.07			1.26			1.26			1.47			—
R3(g)		10.55		0.08		—		1.11			1.19			(0.07	)		—			—		(0.07	)		1.12			11.67		11.32	(e)		11		1.72	(f)		0.91	(f)		0.91	(f)		0.86	(f)		—
R4(h)		10.55		0.10		—		1.12			1.22			(0.10	)		—			—		(0.10	)		1.12			11.67		11.64	(e)		1,129		1.35	(f)		0.61	(f)		0.61	(f)		1.23	(f)		—
R5(i)		10.55		0.14		—		1.11			1.25			(0.12	)		—			—		(0.12	)		1.13			11.68		11.91	(e)		11		1.12	(f)		0.31	(f)		0.31	(f)		1.46	(f)		—
Y		10.43		0.30		—		1.25			1.55			(0.26	)		(0.04	)		—		(0.30	)		1.25			11.68		15.20			12		0.94			0.21			0.21			2.71			—
For the Year Ended October 31, 2006 (j)
A		9.79		0.13		—		0.86			0.99			(0.35	)		—			—		(0.35	)		0.64			10.43		10.37			2,125		9.85			0.53			0.53			1.35			19
B		9.78		0.04		—		0.88			0.92			(0.28	)		—			—		(0.28	)		0.64			10.42		9.56			291		10.69			1.29			1.29			0.39			—
C		9.78		0.04		—		0.88			0.92			(0.28	)		—			—		(0.28	)		0.64			10.42		9.58			337		10.62			1.30			1.30			0.41			—
Y		9.79		0.27		—		0.75			1.02			(0.38	)		—			—		(0.38	)		0.64			10.43		10.70			11		9.41			0.22			0.22			2.73			—
From (commencement of operations) September 30, 2005, through October 31, 2005
A(k)		10.00		0.01		—		(0.22	)		(0.21	)		—			—			—		—			(0.21	)		9.79		(2.10	) (e)		144		0.66	(f)		0.51	(f)		0.51	(f)		2.77	(f)		28
B(l)		10.00		0.01		—		(0.23	)		(0.22	)		—			—			—		—			(0.22	)		9.78		(2.20	) (e)		10		1.37	(f)		1.25	(f)		1.25	(f)		0.86	(f)		—
C(m)		10.00		0.01		—		(0.23	)		(0.22	)		—			—			—		—			(0.22	)		9.78		(2.20	) (e)		10		1.37	(f)		1.26	(f)		1.26	(f)		0.85	(f)		—
Y(n)		10.00		0.01		—		(0.22	)		(0.21	)		—			—			—		—			(0.21	)		9.79		(2.10	) (e)		10		0.29	(f)		0.20	(f)		0.20	(f)		1.91	(f)		—

(a)	Information presented relates to a share outstanding throughout the indicated period.
(b)	Assumes initial investment at net asset value at the beginning of each period, reinvestment of all distributions, the complete redemption of the investment at net asset value at the end of each period and no sales charge. Total return would be reduced if sales charges were taken into account.
(c)	Expense ratios do not include expenses of the underlying funds.
(d)	Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between the classes of shares issued.
(e)	Not annualized.
(f)	Annualized.
(g)	Commenced operations on December 22, 2006.
(h)	Commenced operations on December 22, 2006.
(i)	Commenced operations on December 22, 2006.
(j)	Per share amounts have been calculated using average shares outstanding method.
(k)	Commenced operations on September 30, 2005.
(l)	Commenced operations on September 30, 2005.
(m)	Commenced operations on September 30, 2005.
(n)	Commenced operations on September 30, 2005.

17

The Hartford Target Retirement 2020 Fund

Directors and Officers (Unaudited)

The Board of Directors appoints officers who are responsible for the day-to-day operations of the Fund and who execute policies formulated by the Directors. Each director serves until his or her death, resignation, or retirement or until the next annual meeting of shareholders is held or until his or her successor is elected and qualifies.

Directors and officers who are employed by or who have a financial interest in The Hartford are considered “interested” persons of the Fund pursuant to the Investment Company Act of 1940, as amended. Each officer and three of the Fund’s directors, as noted in the chart below, are “interested” persons of the Fund. Each director serves as a director for The Hartford Mutual Funds, Inc., The Hartford Mutual Funds II, Inc., The Hartford Income Shares Fund, Inc., Hartford Series Fund, Inc., and Hartford HLS Series Fund II, Inc., which collectively consist of 100 funds. Correspondence may be sent to directors and officers c/o Hartford Mutual Funds, P.O. Box 2999, Hartford, Connecticut 06104-2999, except that correspondence to Ms. Fagely may be sent to 500 Bielenberg Drive, Woodbury, Minnesota 55125.

The table below sets forth, for each director and officer, his or her name, year of birth, current position with the Fund and date first elected or appointed to The Hartford Mutual Funds, Inc. (“MF”) and The Hartford Mutual Funds II, Inc. (“MF2”), principal occupation, and, for directors, other directorships held. The Fund’s statement of additional information contains further information on the directors and is available free of charge by calling 1-888-843-7824 or writing to Hartford Mutual Funds, P.O. Box 64387, St. Paul, MN 55164-0387.

Information on the aggregate remuneration paid to the directors of the Fund can be found in the Statement of Operations herein. The Fund pays a portion of the Chief Compliance Officer’s compensation, but does not pay salaries or compensation to any of its officers or directors who are employed by The Hartford.

Non-Interested Directors

Lynn S. Birdsong (1946) Director since 2003, Co-Chairman of the Investment Committee

Mr. Birdsong is a private investor. Since 1981, Mr. Birdsong has been a partner in Birdsong Company, an advertising specialty firm. Since 2003, Mr. Birdsong has been an independent director of The Japan Fund. From 2003 to March 2005, Mr. Birdsong was an independent director of the Atlantic Whitehall Funds. From 1979 to 2002, Mr. Birdsong was a managing director of Zurich Scudder Investments, an investment management firm. During his employment with Scudder, Mr. Birdsong was an interested director of The Japan Fund.

Robert M. Gavin, Jr. (1940) Director since 2002 (MF) and 1986 (MF2), Chairman of the Board since 2004

Dr. Gavin is an educational consultant. Prior to September 1, 2001, he was President of Cranbrook Education Community and prior to July 1996, he was President of Macalester College, St. Paul, Minnesota.

Duane E. Hill (1945) Director since 2001 (MF) and 2002 (MF2), Chairman of the Nominating Committee

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

Sandra S. Jaffee (1941) Director since 2005

Ms. Jaffee is Chairman and Chief Executive Officer of Fortent (formerly Searchspace Group), a leading provider of compliance/regulatory technology to financial institutions. Ms. Jaffee served as an Entrepreneur in Residence with Warburg Pincus, a private equity firm, from August 2004 to August 2005. From September 1995 to July 2004, Ms. Jaffee served as Executive Vice President at Citigroup, where she was President and Chief Executive Officer of Citibank’s Global Securities Services (1995-2003).

William P. Johnston (1944) Director since 2005, Chairman of the Compliance Committee

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

18

Phillip O. Peterson (1944) Director since 2002 (MF) and 2000 (MF2), Chairman of the Audit Committee

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

Lemma W. Senbet (1946) Director since 2005

Dr. Senbet is the William E. Mayer Chair Professor of Finance at the University of Maryland, Robert H. Smith School of Business. He was chair of the Finance Department during 1998-2006. Previously he was an endowed professor of finance at the University of Wisconsin-Madison. Also, he was director of the Fortis Funds from March 2000-July 2002. Dr. Senbet served the finance profession in various capacities, including as director of the American Finance Association and President of the Western Finance Association. In 2006, Dr. Senbet was inducted Fellow of Financial Management Association International for his career-long distinguished scholarship and professional service.

Interested Directors and Officers

Thomas M. Marra* (1958) Director since 2002

Mr. Marra has served as President and Chief Operating Officer of The Hartford Financial Services Group, Inc. (“The Hartford”) since 2007. Mr. Marra currently serves as Director of Hartford Life, Inc. (“HL, Inc.”). Mr. Marra served as Chief Operating Officer of Hartford Life Insurance Company, Inc. (“Hartford Life”) (2000-2008), as President of Hartford Life (2002-2008) and as Director of Hartford Life’s Investment Products Division from 1998 to 2000.

* On February 24, 2009, The Hartford and Mr. Marra determined to enter into a mutually agreed separation whereby Mr. Marra will retire, and his role as an executive officer and employee of The Hartford will terminate, effective July 3, 2009. Mr. Marra will resign his position as a Director of the Fund effective June 25, 2009.

Lowndes A. Smith (1939) Director since 2002, Co-Chairman of the Investment Committee

Mr. Smith served as Vice Chairman of The Hartford from February 1997 to January 2002, as President and Chief Executive Officer of Hartford Life, Inc. from February 1997 to January 2002, and as President and Chief Operating Officer of The Hartford Life Insurance Companies from January 1989 to January 2002. Mr. Smith serves as a Director of White Mountains Insurance Group, Ltd., One Beacon Insurance, Symetra Financial and as a Managing Director of Whittington Gray Associates.

John C. Walters* (1962) Director since 2008

Mr. Walters currently serves as Chief Executive Officer, President and Director of HL, Inc. Mr. Walters previously served as President of the U.S. Wealth Management Division of Hartford Life, Inc., as Co-Chief Operating Officer of Hartford Life Insurance Company (2007-2008) and as Executive Vice President and Director of its Investment Products Division (2000-2008). Mr. Walters also serves as Chairman of the Board, Chief Executive Officer, President and Director of Hartford Life Insurance Company and as Executive Vice President of The Hartford. In addition, Mr. Walters is Manager of HL Investment Advisors, LLC (“HL Advisors”).

* Mr. Walters previously served as President and Chief Executive Officer of the Fund (2007 — 2009).

Other Officers

Robert M. Arena, Jr. (1968) President and Chief Executive Officer since 2009 (served as Vice President of the Fund (2006 — 2009))

Mr. Arena serves as Executive Vice President of Hartford Life Insurance Company, (“Hartford Life”). Additionally, Mr. Arena is Director and Senior Vice President of Hartford Administrative Services Company, (“HASCO”), Manager, Chief Executive Officer and President of Hartford Investment Financial Services, LLC (“HIFSCO”) and HL Advisors. Prior to joining The Hartford in 2004, he was Senior Vice President in charge of Product Management for American Skandia/Prudential in the individual annuities division. Mr. Arena joined American Skandia in 1996.

Tamara L. Fagely (1958) Vice President, Treasurer and Controller since 2002 (MF) 1993 (MF2)

Ms. Fagely has been a Vice President of HASCO since 1998 and Chief Financial Officer since 2006. Currently Ms. Fagely is a Vice President of Hartford Life. She served as Assistant Vice President of Hartford Life from December 2001 through March 2005. In addition, Ms. Fagely is Controller and Chief Financial Officer of HIFSCO.

Brian Ferrell (1962) AML Compliance Officer since 2008

Mr. Ferrell has served as Assistant Vice President and AML Compliance Officer for The Hartford since 2006 and as AML Compliance Officer for HASCO and Hartford Investor Services Company, LLC (“HISC”) since 2008. Prior to joining The Hartford in 2006, Mr. Ferrell held various positions at the U.S. Department of the Treasury, (the “Treasury”), from 2001 to 2006 where he served as Chief Counsel for the Treasury’s Financial Crimes Enforcement Network, (“FinCEN”) from 2005 — 2006.

19

The Hartford Target Retirement 2020 Fund

Directors and Officers (Unaudited) — (continued)

Thomas D. Jones, III (1965) Vice President and Chief Compliance Officer since 2006

Mr. Jones serves as Chief Compliance Officer for the Hartford Mutual Funds and Vice President and Director of Securities Compliance for The Hartford. He is also Vice President of HIFSCO, HL Advisors, and Hartford Life Insurance Company. Mr. Jones joined The Hartford in 2006 from SEI Investments, where he served as Chief Compliance Officer for its mutual funds and investment advisers. Prior to joining SEI, Mr. Jones was First Vice President and Compliance Director for Merrill Lynch Investment Managers (Americas) (“MLIM”), where he worked from 1992-2004. At MLIM, Mr. Jones was responsible for the compliance oversight of various investment products, including mutual funds, wrap accounts, institutional accounts and alternative investments.

Edward P. Macdonald (1967) Vice President, Secretary and Chief Legal Officer since 2005

Mr. Macdonald serves as Assistant General Counsel and Assistant Vice President of The Hartford and Chief Legal Officer and Vice President of HIFSCO. He also serves as Vice President and Secretary of HASCO, Assistant Vice President of Hartford Life, and Chief Legal Officer, Secretary and Vice President of HL Advisors. Prior to joining The Hartford in 2005, Mr. Macdonald was Chief Counsel, Investment Management for Prudential Financial (formerly American Skandia Investment Services, Inc.). He joined Prudential in April 1999.

Vernon J. Meyer (1964) Vice President since 2006

Mr. Meyer serves as Senior Vice President of Hartford Life and as Director of its Investment Advisory Group in the Individual Markets Group segment. He also serves as Senior Vice President of HIFSCO and HL Advisors. Prior to joining The Hartford in 2004, Mr. Meyer was with MassMutual which he joined in 1987.

D. Keith Sloane (1960) Vice President since 2009

Mr. Sloane is a Senior Vice President of Hartford Life where he serves as Director of mutual fund product management for The Hartford’s mutual funds and 529 college savings businesses. Additionally, Mr. Sloane currently serves as Senior Vice President of HIFSCO, HL Advisors, and HASCO. Prior to joining The Hartford in 2007, Mr. Sloane was Director of product marketing and led the mutual fund business for Wachovia Securities (“Wachovia”) in their investment products group. Mr. Sloane joined Wachovia in 1995.

Jane Wolak (1961) Vice President since 2009

Ms. Wolak currently serves as Vice President of Hartford Life. Ms. Wolak joined Hartford Life as Vice President, Retail Product Services in May 2007. She is also Vice President of HASCO. Previously, Ms. Wolak was with Sun Life Financial where she held the position of Vice President, Service Center Operations from 2001 — 2007.

HOW TO OBTAIN A COPY OF THE FUND’S PROXY VOTING POLICIES AND VOTING RECORDS

A description of the policies and procedures that the Fund uses to determine how to vote proxies relating to portfolio securities and a record of how the Fund voted any proxies for the twelve-month period ended June 30, 2008 is available (1) without charge, upon request, by calling
888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov.

QUARTERLY PORTFOLIO HOLDINGS INFORMATION

The Fund files a complete schedule of portfolio holdings with the Commission for the first and third quarters of each fiscal year on Form N-Q. The Fund’s Forms are available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov. The Form N-Q may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330.

20

The Hartford Target Retirement 2020 Fund

Expense Example (Unaudited)

Your Fund’s Expenses

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments and contingent deferred sales charges (CDSC) (2) ongoing costs including management fees; distribution fees; and other fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the period of October 31, 2008 through April 30, 2009.

Actual Expenses

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

Hypothetical Example for Comparison Purposes

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

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads) and CDSC. Therefore, the second line 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 are equal to the Fund’s annualized expense ratios multiplied by average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

	Actual return						Hypothetical (5% return before expenses)
					Expenses paid						Expenses paid					Days in
					during the period						during the period					the		Days
	Beginning		Ending Account		October 31, 2008		Beginning		Ending Account		October 31,		Annualized			current		in the
	Account Value		Value		through		Account Value		Value		2008 through		expense			1/2		full
	October 31, 2008		April 30, 2009		April 30, 2009		October 31, 2008		April 30, 2009		April 30, 2009		ratio			year		year
Class A	$	1,000.00	$	1,000.43	$	1.24	$	1,000.00	$	1,023.55	$	1.25		0.25	%		181		365
Class B	$	1,000.00	$	997.27	$	4.35	$	1,000.00	$	1,020.43	$	4.40		0.88			181		365
Class C	$	1,000.00	$	995.98	$	4.89	$	1,000.00	$	1,019.88	$	4.95		0.99			181		365
Class R3	$	1,000.00	$	999.71	$	1.98	$	1,000.00	$	1,022.81	$	2.00		0.40			181		365
Class R4	$	1,000.00	$	1,000.30	$	0.49	$	1,000.00	$	1,024.29	$	0.50		0.10			181		365
Class R5	$	1,000.00	$	1,001.02	$	0.24	$	1,000.00	$	1,024.54	$	0.25		0.05			181		365
Class Y	$	1,000.00	$	1,001.43	$	0.24	$	1,000.00	$	1,024.54	$	0.25		0.05			181		365

21

The Hartford Target Retirement 2025 Fund

Table of Contents

Manager Discussions (Unaudited)	2
Financial Statements
Schedule of Investments at April 30, 2009 (Unaudited)	4
Statement of Assets and Liabilities at April 30, 2009 (Unaudited)	5
Statement of Operations for the Six Month Period Ended April 30, 2009 (Unaudited)	6
Statement of Changes in Net Assets for the Six Month Period Ended April 30, 2009 (Unaudited) and the Year Ended October 31, 2008	7
Notes to Financial Statements (Unaudited)	8
Financial Highlights (Unaudited)	15
Directors and Officers (Unaudited)	16
How to Obtain a Copy of the Fund’s Proxy Voting Policies and Proxy Voting Records (Unaudited)	18
Quarterly Portfolio Holdings Information (Unaudited)	18
Expense Example (Unaudited)	19

The Hartford Target Retirement 2025 Fund

(subadvised by Hartford Investment Management Company)

Performance Overview(1) 10/31/08 — 4/30/09
Growth of a $10,000 investment in Class R3

Barclays Capital U.S. Aggregate Bond Index is an unmanaged index and is composed of securities from the Barclays Capital Government/Credit Bond Index, Mortgage-Backed Securities Index, Asset-Backed Securities Index and Commercial Mortgage-Backed Securities Index.

S&P 500 Index is a market capitalization weighted price index composed of 500 widely held common stocks.

You cannot invest directly in an index.

Investment objective — Seeks to maximize total return and secondarily, to seek capital preservation.

Average Annual Total Returns(2) (as of 4/30/09)

	Inception		Since
	Date		Inception
The Hartford Target Retirement 2025 Fund R3		10/31/08		-1.29	%
The Hartford Target Retirement 2025 Fund R4		10/31/08		-1.24	%
The Hartford Target Retirement 2025 Fund R5		10/31/08		-1.13	%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
(1)	Growth of a $10,000 investment in Classes R4 and R5 shares will vary from results seen above due to differences in the expenses charged to these share classes.
(2)	Total returns presented above were calculated using the Fund’s net asset value available to shareholders for sale or redemption of Fund shares on April 30, 2009, which excludes investment transactions as of this date.

The value of shares will fluctuate so that, when redeemed, shares may be worth more or less than their original cost. The chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.

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

Portfolio Managers
Hugh Whelan, CFA	Edward C. Caputo, CFA
Managing Director	Vice President

How did the Fund perform?

The Class R3 shares of The Hartford Target Retirement 2025 Fund returned -1.29% for the six-month period ended April 30, 2009. In comparison, its benchmarks, the S&P 500 Index and the Barclays Capital U.S. Aggregate Bond Index, returned - -8.53% and 7.74%, respectively, while the average return of the Lipper Mixed-Asset Target 2025 Funds category, a group of funds with investment strategies similar to those of the Fund, was -2.74%.

Why did the Fund perform this way?

The U.S. recession continued to deepen during the six-month period under review. Rising unemployment weighed on personal income and spending, while first quarter industrial production posted the steepest quarterly decline in more than 30 years. However, as the six-month period drew to a close, there were some signs that perhaps the rate of economic decline was beginning to slow. Financial conditions stabilized a bit, while the Federal Reserve’s purchases of long-term Treasuries and mortgage-backed securities also provided strong support for the mortgage market, driving fixed mortgage rates lower. Generally, the Fund’s target asset allocation is set at approximately 76% equities and 24% fixed-income.

This environment initially created another difficult period for stocks, with the S&P 500 Index closing at a new low of 676.53 on March 9, down -29.30% since the start of the 6-month period. However, emergent signs of a slowdown in the economy’s free-fall helped lift the index through the remainder of the period, leaving it down -8.53% for the period. The index was in the black in March and April, gaining 8.76% and 9.57%, respectively, for a gain of 29.38% from March 9 through the end of the

2

period. Declines were widespread across most equity asset classes during the six-month period. Among the eleven equity asset classes in our investment universe, emerging market stocks, EAFE small cap stocks, and U.S. midcap growth stock indices posted positive returns over the
6-month period. U.S. Real-Estate Investment Trusts (REITS) led the way lower during the period, while growth stocks continued to outperform value stocks across all market capitalization levels. International stocks outperformed U.S. stocks.

In fixed income, five and ten year Treasury yields increased during the 6-month period. Within the major sectors of the Barclays Capital U.S. Aggregate Bond Index, investment grade credit was the top performer at 11.47%, while commercial mortgage backed securities (CMBS) were the weakest performer at 1.32%. In the high yield asset classes, high yield bonds and emerging markets debt both outperformed the Barclays Capital U.S. Aggregate Bond Index, while floating rate notes did not. In addition, Treasury Inflation-Protection Securities (TIPS) were the best performing investment grade asset class in our investment universe at 9.46%.

There are two main drivers of the Fund’s performance: asset allocation among various asset classes and performance of the underlying funds. With regard to asset allocation, the Fund maintains relatively fixed exposures to the equity and fixed income markets. Therefore, we seek to add value by strategically allocating within the equity and fixed income investment sub asset classes. Our asset allocation decisions over the period improved the Fund’s performance.

Concerning the Fund’s equity exposure, favorable allocations to emerging market stocks and international small cap stocks helped offset unfavorable allocations to U.S. stocks. By design, the Fund also maintains exposure to various fixed income asset classes to deliver a well diversified portfolio solution. The Fund also benefited from its allocation to TIPS. Based on the risk preferences of the Fund’s mandate, the portfolio’s duration (a measure of a bond’s sensitivity to changes in interest rates) is targeted to be greater than the Barclay’s Capital U.S. Aggregate Bond Index. The Fund benefited from the longer duration positioning.

Beyond the asset allocation decision, we also seek to add value by selecting the underlying mutual funds that will most effectively deliver the target asset class exposures. We analyze all of the funds in our investment universe, looking through each fund’s objectives and stated benchmark to see what it actually holds and how it behaves. During the period, the Fund benefited from underlying fund selection.

During the period, the Fund continued to utilize Exchange-Traded Funds (ETFs) to obtain asset class exposures otherwise unavailable through The Hartford family of funds. Specifically, the Fund has target allocations to ETFs that provide U.S. real estate and international real estate exposure, as well as emerging market debt exposure.

Whenever possible, we rely on cash flows to execute our allocation changes. During the period, a hard rebalance (i.e. a fund rebalancing to move the underlying fund investments to their target allocation percentages) was executed to bring the fund allocations closer to their targets. In addition, we have changed the target allocation to stocks and bonds from 77% stock and 23% bond to 76% stock and 24% bond.

What is the outlook?

In fixed income, risk premiums (the additional compensation paid to investors to tolerate the increased level of risk in a given asset class relative to Treasuries) across most asset classes reversed course and began to contract as conditions improved and volatility declined. An onslaught of government policy, from fiscal stimulus to quantitative easing, was the primary catalyst and buyers of historically inexpensive corporate debt emerged as more market participants recognized relative value versus equities. Although risk premiums have come off their historical peak, spreads remain significantly wider (i.e. short and long term interest rates farther apart) than in prior recessions.

In equities the earnings picture is cloudy. First, earnings are falling at near record-breaking rates and all indications are that they will continue to fall. Second, the quality and reliability of the earnings reported is lower than historical standards as the gap between pro forma (“street”) earnings and GAAP (Generally Accepted Accounting Principles) earnings rose in the past several months. Third, there is little clarity in future earnings prospects as the disparity among analyst estimates for future earnings remains at elevated levels. Historically, such consensus building was a precondition to the final, sustained recovery from bear markets associated with recessions.

That said, we believe that investors are well served by adhering to a strategic, diversified portfolio and rebalancing accordingly. We construct these portfolios based upon the long-term properties of asset classes. We look at their long-term returns, volatilities, and correlations between each other and run optimizations to build an optimal portfolio.

Composition by Underlying Fund

as of April 30, 2009

	Percentage of Net
Fund Name	Assets
SPDR DJ Wilshire International Real Estate ETF		1.7	%
SPDR DJ Wilshire REIT ETF		1.5
The Hartford Capital Appreciation Fund, Class Y		18.7
The Hartford Capital Appreciation II Fund, Class Y		3.5
The Hartford Dividend and Growth Fund, Class Y		5.4
The Hartford Fundamental Growth Fund, Class Y		3.6
The Hartford Global Growth Fund, Class Y		3.2
The Hartford Growth Fund, Class Y		3.8
The Hartford Growth Opportunities Fund, Class Y		2.4
The Hartford Inflation Plus Fund, Class Y		5.4
The Hartford International Opportunities Fund, Class Y		6.2
The Hartford International Small Company Fund, Class Y		3.7
The Hartford Short Duration Fund, Class Y		3.6
The Hartford Small Company Fund, Class Y		4.4
The Hartford Total Return Bond Fund, Class Y		13.1
The Hartford Value Fund, Class Y		18.8
Other Assets and Liabilities		1.0
Total		100.0	%

3

The Hartford Target Retirement 2025 Fund

Schedule of Investments

April 30, 2009 (Unaudited)

(000’s Omitted)

Shares or Principal Amount			Market Value ╪
AFFILIATED INVESTMENT COMPANIES - 95.8%
EQUITY FUNDS - 73.7%
	23	The Hartford Capital Appreciation Fund, Class Y				$	558
	11	The Hartford Capital Appreciation II Fund, Class Y•					103
	12	The Hartford Dividend and Growth Fund, Class Y					162
	14	The Hartford Fundamental Growth Fund, Class Y•					107
	9	The Hartford Global Growth Fund, Class Y•					95
	9	The Hartford Growth Fund, Class Y•					114
	4	The Hartford Growth Opportunities Fund, Class Y•					71
	18	The Hartford International Opportunities Fund, Class Y					186
	14	The Hartford International Small Company Fund, Class Y					110
	10	The Hartford Small Company Fund, Class Y •					131
	69	The Hartford Value Fund, Class Y					560
		Total equity funds (cost $2,243)				$	2,197
FIXED INCOME FUNDS - 22.1%
	15	The Hartford Inflation Plus Fund, Class Y				$	161
	12	The Hartford Short Duration Fund, Class Y					108
	40	The Hartford Total Return Bond Fund, Class Y					389
		Total fixed income funds (cost $637)				$	658
		Total investments in affiliated investment companies (cost $2,880)				$	2,855
EXCHANGE TRADED FUNDS - 3.2%
	2	SPDR DJ Wilshire International Real Estate ETF				$	52
	1	SPDR DJ Wilshire REIT ETF					44
		Total exchange traded funds (cost $113)				$	96
		Total long-term investments (cost $2,993)				$	2,951
		Total investments (cost $2,993) ▲		99.0	%	$	2,951
		Other assets and liabilities		1.0	%		30
		Total net assets		100.0	%	$	2,981

Note:	Percentage of investments as shown is the ratio of the total market value to total net assets.
▲	At April 30, 2009, the cost of securities for federal income tax purposes was $2,993 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	43
Unrealized Depreciation		(85	)
Net Unrealized Depreciation	$	(42	)

•	Currently non-income producing.
╪	See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of securities.

FAS 157 Disclosure of Investment Valuation Hierarchy Levels

Assets:
Investment in securities — Level 1	$	2,951
Total	$	2,951

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

4

The Hartford Target Retirement 2025 Fund

Statement of Assets and Liabilities

April 30, 2009 (Unaudited)

(000’s Omitted)

Assets:
Investments in securities, at fair value (cost $113)	$	96
Investments in underlying affiliated funds, at fair value (cost $2,880)		2,855
Receivables:
Fund shares sold		—
Dividends and interest		1
Other assets		32
Total assets		2,984
Liabilities:
Payables:
Investment management fees		—
Distribution fees		—
Accrued expenses		3
Total liabilities		3
Net assets	$	2,981
Summary of Net Assets:
Capital stock and paid-in-capital		3,052
Accumulated undistributed net investment income		7
Accumulated net realized loss on investments		(36	)
Unrealized depreciation of investments		(42	)
Net assets	$	2,981
Shares authorized		150,000
Par value	$	0.001
Class R3: Net asset value per share	$	9.75
Shares outstanding		103
Net assets	$	1,005
Class R4: Net asset value per share	$	9.75
Shares outstanding		101
Net assets	$	988
Class R5: Net asset value per share	$	9.76
Shares outstanding		101
Net assets	$	988

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

5

The Hartford Target Retirement 2025 Fund

Statement of Operations

From (commencement of operations) October 31, 2008 through April 30, 2009 (Unaudited)

(000’s Omitted)

Investment Income:
Dividends	$	2
Dividends from underlying affiliated funds		44
Total investment income		46
Expenses:
Investment management fees		2
Transfer agent fees		—
Distribution fees
Class R3		2
Class R4		1
Custodian fees		—
Accounting services		—
Registration and filing fees		18
Board of Directors’ fees		—
Audit fees		3
Other expenses		3
Total expenses (before waivers)		29
Expense waivers		(26	)
Total waivers		(26	)
Total expenses, net		3
Net investment income		43
Net Realized Loss on Investments:
Net realized loss on investments in underlying affiliated funds		(36	)
Net realized gain on investments in securities		—
Net Realized Loss on Investments		(36	)
Net Changes in Unrealized Depreciation of Investments:
Net unrealized depreciation of investments		(42	)
Net Changes in Unrealized Depreciation of Investments		(42	)
Net Loss on Investments		(78	)
Net Decrease in Net Assets Resulting from Operations	$	(35	)

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

6

The Hartford Target Retirement 2025 Fund

Statement of Changes in Net Assets

(000’s Omitted)

	For the Period
	October 31, 2008**
	through
	April 30, 2009
Operations:
Net investment income	$	43
Net realized loss on investments		(36	)
Net unrealized depreciation of investments		(42	)
Net decrease in net assets resulting from operations		(35	)
Distributions to Shareholders:
From net investment income
Class R3		(12	)
Class R4		(12	)
Class R5		(12	)
Total distributions		(36	)
Capital Share Transactions:
Class R3		1,028
Class R4		1,012
Class R5		1,012
Net increase from capital share transactions		3,052
Net increase in net assets		2,981
Net Assets:
Beginning of period		—
End of period	$	2,981
Accumulated undistributed net investment income	$	7

^** Commencement of operations.

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

7

The Hartford Target Retirement 2025 Fund

Notes to Financial Statements

April 30, 2009 (Unaudited)

(000’s Omitted)

1.	Organization:
	The Hartford Mutual Funds, Inc. (“Company”) is an open-end management investment company comprised of fifty-two portfolios. Financial statements for The Hartford Target Retirement 2025 Fund (the “Fund”), a series of the Company, are included in this report.
	The Company is organized under the laws of the State of Maryland and is registered with the Securities and Exchange Commission (“SEC”) under the Investment Company Act of 1940, as amended (“1940 Act”). The Fund is a diversified open-end management investment company.
	Classes R3, R4, R5 shares, which are offered to employer-sponsored retirement plans, are sold without a sales charge. All classes of shares have identical voting, redemption, dividend, liquidation and other rights and the same terms and conditions, with the exceptions that each class may have different expenses, which may affect performance.
	The Fund, as a “Fund of Funds”, invests the majority of its assets in Class Y shares of other Hartford mutual funds (“Underlying Funds”) as well as certain exchange-traded funds (“ETFs”). The Fund seeks its investment goals through implementation of a strategic asset allocation recommendation provided by Hartford Investment Management Company (“Hartford Investment Management”), a wholly-owned subsidiary of The Hartford Financial Services Group, Inc. (“The Hartford”).
2.	Significant Accounting Policies:
	The accounting policies of the affiliated underlying funds are outlined in the shareholder reports for such funds, available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov. The reports may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330. The affiliated Underlying Funds are not covered by this report.
	The following is a summary of significant accounting policies of the Fund, which are in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”).

a)	Security Transactions and Investment Income - Security transactions are recorded on the trade date (the date the order to buy or sell is executed). Security gains and losses are determined on the basis of identified cost.
	Dividend income is accrued as of the ex-dividend date. Income and capital gain distributions from Underlying Funds are recorded on the ex-dividend date.
b)	Security Valuation - Investments in open-end mutual funds are valued at the respective NAV of each open-end mutual fund on the valuation date.
	The Fund generally uses market prices in valuing portfolio securities. If market prices are not readily available or are deemed unreliable, the Fund will use the fair value of the security as determined in good faith under policies and procedures established by and under the supervision of the Fund’s Board of Directors. Market prices may be deemed unreliable, for example, if a security is thinly traded or if an event has occurred after the close of the security’s primary markets, but before the close of the New York Stock Exchange (the “Exchange”) (normally 4:00 p.m. Eastern Time, referred to as the “Valuation Time”) that is expected to affect the value of the portfolio security. The circumstances in which the Fund may use fair value pricing include, among others: (i) the occurrence of events that are significant to a particular issuer, such as mergers, restructuring or defaults; (ii) the occurrence of events that are significant to an entire market, such as natural disasters in a particular region or governmental actions; (iii) trading restrictions on securities; (iv) thinly traded securities and (v) market events such as trading halts and early market closings. In addition, with respect to the valuation of stocks primarily traded on foreign markets, the Fund uses a fair value pricing service approved by the

8

Fund’s Board of Directors, which employs quantitative models that evaluate changes in the value of foreign market proxies (e.g., futures contracts, ADR’s, exchange traded funds (“ETF’s”)) after the close of the foreign markets but before the close of the Exchange. Securities that are primarily traded on foreign markets may trade on days that are not business days of the Fund. The value of the foreign securities in which the Fund invests may change on days when a shareholder will not be able to purchase or redeem shares of the Fund. Fair value pricing is subjective in nature and the use of fair value pricing by the Fund may cause the NAV of its shares to differ significantly from the NAV that would have been calculated using market prices at the close of the exchange on which a portfolio security is primarily traded but before the close of the Exchange. There can be no assurance that the Fund could obtain the fair value assigned to a security if the Fund were to sell the security at approximately the time at which the Fund determines its NAV.

Debt securities (other than short-term obligations and senior floating rate interests) held by the Fund are valued on the basis of valuations furnished by an independent pricing service which determines valuations for normal institutional size trading units of debt securities. Senior floating rate interests generally trade in over-the-counter markets and are priced through an independent pricing service utilizing independent market quotations from loan dealers or financial institutions. Securities for which prices are not available from an independent pricing service are valued using market quotations obtained from one or more dealers that make markets in the securities in accordance with procedures established by the Fund’s Board of Directors. Generally, the Fund may use fair valuation in regard to debt securities when the Fund holds defaulted or distressed securities or securities in a company in which a reorganization is pending. Short-term investments with a maturity of more than 60 days when purchased are valued based on market quotations until the remaining days to maturity become less than 61 days. Investments that mature in 60 days or less are valued at amortized cost, which approximates market value.

Exchange traded equity securities shall be valued at the last reported sale price on the exchange or market on which the security is primarily traded (the “Primary Market”) at the Valuation Time. If the security did not trade on the Primary Market, it may be valued at the Valuation Time at the last reported sale price on another exchange where it trades. The value of an equity security not traded on any exchange but traded on the Nasdaq Stock Market, Inc. (“Nasdaq”) or another over-the-counter market shall be valued at the last reported sale price or official closing price on the exchange or market on which the security is traded as of the Valuation Time. If it is not possible to determine the last reported sale price or official closing price on the relevant exchange or market at the Valuation Time, the value of the security shall be taken to be the most recent mean between bid and asked prices on such exchange or market at the Valuation Time.

Securities of foreign issuers and non-dollar securities are translated from the local currency into U.S. dollars using prevailing exchange rates.

Options contracts on securities, currencies, indexes, futures contracts, commodities and other instruments shall be valued at their most recent sales price at the Valuation Time on the Primary Market on which the instrument is primarily traded. If the instrument did not trade on the Primary Market, it may be valued at the most recent sales price at the Valuation Time on another exchange or market where it did trade.

Futures contracts are valued at the most recent settlement price reported by an exchange on which, over time, they are traded most extensively. If a settlement price is not available, futures contracts will be valued at the most recent trade price as of the Valuation Time. If there were no trades, the contract shall be valued at the mean of the closing bid/ask prices as of the Valuation Time.

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

A forward currency contract shall be valued based on the price of the underlying currency at the prevailing interpolated exchange rate, which is a combination of the spot currency rate and the forward currency rate. Spot currency rates and forward currency rates are obtained from an independent pricing service on a daily basis not more than one hour before the Valuation Time.

9

The Hartford Target Retirement 2025 Fund

Notes to Financial Statements -(continued)

April 30, 2009 (Unaudited)

(000’s Omitted)

	Swaps are valued based on custom valuations furnished by an independent pricing service. Swaps for which prices are not available from an independent pricing service are valued in accordance with procedures established by the Fund’s Board of Directors.
	Other derivative or contractual type instruments shall be valued using market prices if such instruments trade on an exchange or market. If such instruments do not trade on an exchange or market, such instruments shall be valued at a price at which the counterparty to such contract would repurchase the instrument. In the event that the counterparty cannot provide a price, such valuation may be determined in accordance with procedures established by the Fund’s Board of Directors.
c)	Indexed Securities - The Fund may invest in indexed securities whose values are linked to changes in interest rates, indices, or other underlying instruments. The Fund uses these securities to increase or decrease its exposure to different underlying instruments and to gain exposure to markets that might be difficult to invest in using conventional securities. Indexed securities may be more volatile than their underlying instruments, but any loss is limited to the amount of the original investment and there may be a limit to the potential appreciation of the investment. The Fund had investments in indexed securities as of April 30, 2009, as shown on the Schedule of Investments under Exchange Traded Funds.
d)	Fund Share Valuation and Dividend Distributions to Shareholders — Orders for the Fund’s shares are executed in accordance with the investment instructions of the shareholders. The NAV of the Fund’s shares is determined as of the close of each business day of the Exchange. The NAV is determined separately for each class of the Fund by dividing the Fund’s net assets attributable to that class by the number of shares of the class outstanding. Orders for the purchase of the Fund’s shares prior to the close of the Exchange on any day on which the Exchange is open for business are priced at the NAV determined as of the close of the Exchange. Orders after the close of the Exchange, or on a day on which the Exchange and/or the Fund is not open for business, are priced at the next determined NAV.
	The Fund intends to distribute substantially all of its net investment income and net realized capital gains to shareholders no less frequently than once a year. Normally, dividends from net investment income of the Fund are declared and paid annually. Dividends are paid on shares beginning on the business day after the day when the funds used to purchase the shares are collected by the transfer agent for the Fund. Long-term capital gains distributions received from underlying funds are distributed at least annually, when required. Unless shareholders specify otherwise, all dividends and distributions will be automatically reinvested in additional full or fractional shares of the Fund.
	Distributions from net investment income, realized capital gains and capital are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP with respect to character and timing. These differences include but are not limited to foreign currency gains and losses, losses deferred due to wash sales adjustments, adjustments related to Passive Foreign Investment Companies and certain derivatives, and excise tax regulations. Permanent book and federal income tax basis differences relating to shareholder distributions will result in reclassifications to certain of the Fund’s capital accounts (see Federal Income Taxes: Reclassification of Capital Accounts footnote).
e)	Use of Estimates — The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and the reported amounts of income and expenses during the period. Operating results in the future could vary from the amounts derived from management’s estimates.
f)	Financial Accounting Standards Board Financial Accounting Standards No. 157 - Effective November 1, 2008, the Fund adopted Financial Accounting Standards Board (“FASB”) Statement of Financial Accounting Standards No. 157, “Fair Value Measurements” (“FAS 157”). This standard clarifies the definition of fair value for financial reporting, establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements. Fair value is defined under FAS 157 as the exchange price that would be received for an asset or paid to

10

transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Under FAS 157, a fair value measurement should reflect all of the assumptions that market participants would use in pricing the asset or liability, including assumptions about the risk inherent in a particular valuation technique, the effect of a restriction on the sale or use of an asset, and the risk of nonperformance.

Various inputs are used in determining the value of the Fund’s investment. These inputs are summarized, per FAS 157, into three broad hierarchy levels. This hierarchy is based on whether the valuation inputs are observable or unobservable. These levels are:

• Level 1 — Quoted prices in active markets for identical securities. Level 1 includes exchange-traded instruments such as domestic equities, some foreign equities, options, futures, mutual funds, ETF’s, and rights and warrants.

• Level 2 — Observable inputs other than Level 1 prices, such as quoted prices for similar securities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the security. Level 2 includes debt securities that are traded less frequently than exchange-traded instruments and that are valued using third party pricing services and foreign equities, whose value is determined using a multi-factor regression model with inputs that are observable in the market; and money market instruments, which are carried at amortized cost.

• Level 3 — Significant unobservable inputs that are supported by little or no market activity. Level 3 includes financial instruments whose values are determined using broker quotes and require significant management judgment or estimation. This category includes broker quoted securities, long dated OTC options and securities where trading has been halted or there are certain restrictions on trading. While these securities are priced using unobservable inputs, the valuation of these securities reflects the best available data and management believes the prices are a good representation of exit price.

	Individual securities within any of the above mentioned asset classes may be assigned a different hierarchical level than those presented above, as individual circumstances dictate.
	FAS 157 also requires that a roll forward reconciliation be shown for all Level 3 securities from the beginning of the reporting period to the end of the reporting period. Part of this reconciliation includes transfers in and/or out of Level 3. For purposes of this reconciliation, transfers in are shown at the end of period fair value and transfers out are shown at the beginning of period fair value. During the six-month period ended April 30, 2009, the Fund held no Level 3 securities.
	FASB Staff Position No. 157-4 - In April 2009, FASB released FASB Staff Position No. 157-4, “Determining Fair Value When the Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly” (“FSP FAS 157-4”). FSP FAS 157-4 provides additional guidance on determining whether a market for a financial asset is not active and a transaction is not distressed when measuring fair value under FAS 157. The FSP also requires additional disclosure detail on debt and equity securities by major investment categories. FSP FAS 157-4 is effective for interim and annual periods ending after June 15, 2009. At this time, management is evaluating the implications of FSP FAS 157-4 and does not believe it will impact valuation but will require additional disclosure. This additional disclosure has not yet been implemented.
g)	Financial Accounting Standards Board Financial Accounting Standards No. 161 - In March 2008, the FASB released Statement of Financial Accounting Standards No. 161, “Disclosures about Derivative Instruments and Hedging Activities” (“FAS 161”). FAS 161 requires companies to disclose information detailing the objectives and strategies for using derivative instruments, the level of derivative activity entered into by the company and any credit risk-related contingent features of the agreements. The application of FAS 161 is required for fiscal years and interim periods beginning after November 15, 2008. At this time, management is evaluating the implications of FAS 161 and has not yet implemented the new disclosure standard.

11

The Hartford Target Retirement 2025 Fund

Notes to Financial Statements —(continued) 

April 30, 2009 (Unaudited)

(000’s Omitted)

h) Indemnifications: Under the Company’s organizational documents, the Company shall indemnify its officers and directors to the full extent required or permitted under Maryland General Corporation Law and the federal securities law. In addition, the Company, on behalf of the Fund, may enter into contracts that contain a variety of indemnifications. The Company’s maximum exposure under these arrangements is unknown. However, the Company has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote.

3. Federal Income Taxes:

a)	Federal Income Taxes - For federal income tax purposes, the Fund intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code (“IRC”) by distributing substantially all of its taxable net investment income and net realized capital gains to its shareholders and otherwise complying with the requirements of regulated investment companies. The Fund has distributed substantially all of its income and capital gains in prior years and the Fund intends to distribute substantially all of its income and gains during the calendar year ending December 31, 2009. Accordingly, no provision for federal income or excise taxes has been made in the accompanying financial statements. Distributions from short-term capital gains are treated as ordinary income distributions for federal income tax purposes.
b)	Reclassification of Capital Accounts - In accordance with American Institute of Certified Public Accountants (AICPA) Statement of Position 93-2, Determination, Disclosure, and Financial Statement Presentation of Income, Capital Gain, and Return of Capital Distributions by Investment Companies, the Fund may record reclassifications in its capital accounts. These reclassifications have no impact on the NAV of the Fund. The reclassifications are a result of permanent differences between GAAP and tax accounting for such items as net operating losses that reduce distribution requirements. Adjustments are made to reflect the impact these items have on current and future distributions to shareholders. Therefore, the source of the Fund’s distributions may be shown in the accompanying Statement of Changes in Net Assets as from net investment income, from net realized gains on investments or from capital depending on the type of book and tax differences that exist. Reclassifications are made at fiscal year end and therefore, no reclassifications were made during the six-month period ended April 30, 2009.
c)	Financial Accounting Standards Board Interpretation No. 48 - On July 13, 2006, the FASB released FASB Interpretation No. 48 “Accounting for Uncertainty in Income Taxes” (“FIN 48”). FIN 48 provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. The Fund has adopted FIN 48. Management has evaluated the implications of FIN 48 for the Fund and has determined there is no impact to the Fund’s financial statements.

4. Expenses:

a) Investment Management Agreements - Hartford Investment Financial Services, LLC (“HIFSCO”) serves as investment manager to the Fund pursuant to an Investment Management Agreement with The Hartford Mutual Funds, Inc. As investment manager, HIFSCO has overall investment supervisory responsibility for the Fund. In addition, HIFSCO provides administrative personnel, services, equipment, facilities and office space for proper operation of the Fund. HIFSCO has contracted with Hartford Investment Management for the provision of day-to-day investment management services to the Fund in accordance with the Fund’s investment objective and policies. The Fund pays a fee to HIFSCO, a portion of which may be used to compensate Hartford Investment Management.

12

The schedule below reflects the rates of compensation paid to HIFSCO for investment management services rendered during the
six-month period ended April 30, 2009; the rates are accrued daily and paid monthly:

Average Daily Net Assets	Annual Fee
On first $500 million		0.15	%
On next $4.5 billion		0.10	%
On next $5 billion		0.08	%
Over $10 billion		0.07	%

b) Accounting Services Agreement — Pursuant to the Fund Accounting Agreement between Hartford Life Insurance Company (“HLIC”) and the Fund, HLIC provides accounting services to the Fund and receives monthly compensation on the Fund’s average net assets. The Fund’s accounting service fees are accrued daily and paid monthly.

Average Daily Net Assets	Annual Fee
On first $5 billion		0.012	%
Over $5 billion		0.010	%

c) Operating Expenses - Allocable expenses incurred by the Company are allocated to each Fund and allocated to classes within the Fund in proportion to the average daily net assets of the Fund and each class, except where allocation of certain expenses is more fairly made directly to the Fund or to specific classes within a Fund. During the six-month period ended April 30, 2009, HIFSCO has contractually limited the total operating expenses of this Fund, exclusive of taxes, interest expense, brokerage commissions, certain distribution expenses and extraordinary expenses as follows:

Class R3	Class R4			Class R5
1.20%		0.90	%		0.85	%

	Voluntary limitations for total operating expenses include expenses incurred as the result of investing in other investment companies. Amounts incurred which exceed the above limits are deducted from expenses and are reported as waivers on the accompanying Statement of Operations.
d)	Distribution and Service Plan for Class R3 and R4 Shares - HIFSCO is the principal underwriter and distributor of the Fund. HIFSCO is engaged in distribution activities, which include marketing and distribution of shares through broker-dealers, financing distribution costs and maintaining financial books and records.
	The Fund has adopted Distribution and Service Plans in accordance with Rule 12b-1 of the Investment Company Act of 1940, as amended, to compensate the distributor (HIFSCO) for activities intended to result in the sale and distribution of Classes R3 and R4 shares and for providing services for shareholders. The Rule 12b-1 plan applicable to Class R3 shares provides for a distribution fee of 0.50%. The Rule 12b-1 plan applicable to Class R4 shares provides for a distribution fee of 0.25%. For Classes R3 and R4 shares, some or the entire fee may be remitted to broker dealers for distribution and/or shareholder account services. The Fund’s 12b-1 fees are accrued daily and paid monthly.
	For the six-month period ended April 30, 2009, total sales commissions paid to affiliated brokers/dealers of The Hartford for distributing the Fund’s shares rounds to zero. These commissions are in turn paid to sales representatives of the broker/dealers.
e)	Other Related Party Transactions - Certain officers of the Fund are directors and/or officers of HIFSCO and/or The Hartford or its subsidiaries. For the six-month period ended April 30, 2009, a portion of the Fund’s chief compliance officer’s salary was paid by the Fund in an amount, which rounds to zero. Hartford Administrative Services Company (“HASCO”), an indirect wholly owned subsidiary of The Hartford, provides transfer agent services to the Fund. HASCO was compensated an amount, which rounds to zero, for providing such services. These fees are accrued daily and paid monthly.

13

The Hartford Target Retirement 2025 Fund

Notes to Financial Statements —(continued) 

April 30, 2009 (Unaudited)

(000’s Omitted)

5.	Affiliate Holdings:
	As of April 30, 2009, affiliates of The Hartford had ownership of shares in the Fund as follows:

	Shares
Class R3		101
Class R4		101
Class R5		101

6.	Investment Transactions:
	For the six-month period ended April 30, 2009, the Fund’s aggregate purchases and sales of investment securities (excluding short-term investments) were as follows:

	Amount
Cost of Purchases Excluding U.S. Government Obligations	$	3,365
Sales Proceeds Excluding U.S. Government Obligations		336

7.	Capital Share Transactions:
	The following information is for the six-month period ended April 30, 2009.

	For the Six-Month Period Ended 4/30/2009
			Shares					Shares
			Issued for					Issued		Net Increase
	Shares		Reinvested		Shares			from		(Decrease) of
	Sold		Dividends		Redeemed			Merger		Shares
Class R3
Shares		104		1		(2	)		—		103
Amount	$	1,033	$	12	$	(17	)	$	—	$	1,028
Class R4
Shares		100		1		—			—		101
Amount	$	1,000	$	12	$	—		$	—	$	1,012
Class R5
Shares		100		1		—			—		101
Amount	$	1,000	$	12	$	—		$	—	$	1,012

8.

Line of Credit:

The Fund is one of several Hartford Funds that participate in a $500 million committed revolving line of credit facility. The facility is to be used for temporary or emergency purposes. Under the arrangement, the Fund is required to own securities having a market value in excess of 300% of the total bank borrowings. The interest rate on borrowings varies depending on the nature of the loan. The facility also requires a fee to be paid based on the amount of the commitment. During the six-month period ended April 30, 2009, the Fund did not have any borrowings under this facility.

14

The Hartford Target Retirement 2025 Fund

Financial Highlights — (Unaudited)

- Selected Per-Share Data - (a)

- Ratios and Supplemental Data -

Ratio of

Ratio of

Ratio of

Expenses

Expenses

Expenses

to Average

to Average

to Average

Net Assets

Net Assets

Net Assets

Before

After

After

Net

Waivers

Waivers

Waivers

Realized

and

and

and

Ratio of

and Un-

Distrib-

Net

Reimburse-

Reimburse-

Reimburse-

Net

Net

Pay-

realized

Dividends

utions

Increase

Net

ments and

ments and

ments and

Invest-

Port-

Net Asset

Invest-

ments

Gain

from Net

from

Distri-

(Decrease)

Asset

Net Assets

Including

Including

Excluding

ment

folio

Value at

ment

from

(Loss) on

Total from

Invest-

Realized

butions

Total

in Net

Value at

at End of

Expenses

Expenses

Expenses

Income to

Turn-

Beginning

Income

(to)

Invest-

Investment

ment

Capital

from

Distri-

Asset

End of

Total

Period

not Subject

not Subject

not Subject

Average

over

Class

of Period

(Loss)

Affiliate

ments

Operations

Income

Gains

Capital

butions

Value

Period

Return(b)

(000’s)

to Cap(c)

to Cap(c)

to Cap(c)

Net Assets

Rate(d)

From (commencement of operations) October 31, 2008, through April 30, 2009 (Unaudited)

R3

$

10.00

$

0.13

$

—

$

(0.26

)

$

(0.13

)

$

(0.12

)

$

—

$

—

$

(0.12

)

$

(0.25

)

$

9.75

(1.29)

%(e)

$

1,005

2.46

%(f)

0.42

%(f)

0.42

%(f)

2.97

%(f)

14

%

R4

10.00

0.15

—

(0.28

)

(0.13

)

(0.12

)

—

—

(0.12

)

(0.25

)

9.75

(1.24

) (e)

988

2.16

(f)

0.12

(f)

0.12

(f)

3.28

(f)

—

R5

10.00

0.15

—

(0.27

)

(0.12

)

(0.12

)

—

—

(0.12

)

(0.24

)

9.76

(1.13

) (e)

988

1.86

(f)

0.07

(f)

0.07

(f)

3.33

(f)

—

(a)	Information presented relates to a share outstanding throughout the indicated period.
(b)	Assumes initial investment at net asset value at the beginning of each period, reinvestment of all distributions, the complete redemption of the investment at net asset value at the end of each period and no sales charge. Total return would be reduced if sales charges were taken into account.
(c)	Expense ratios do not include expenses of the underlying funds.
(d)	Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between the classes of shares issued.
(e)	Not annualized.
(f)	Annualized.

15

The Hartford Target Retirement 2025 Fund

Directors and Officers (Unaudited)

The Board of Directors appoints officers who are responsible for the day-to-day operations of the Fund and who execute policies formulated by the Directors. Each director serves until his or her death, resignation, or retirement or until the next annual meeting of shareholders is held or until his or her successor is elected and qualifies.

Directors and officers who are employed by or who have a financial interest in The Hartford are considered “interested” persons of the Fund pursuant to the Investment Company Act of 1940, as amended. Each officer and three of the Fund’s directors, as noted in the chart below, are “interested” persons of the Fund. Each director serves as a director for The Hartford Mutual Funds, Inc., The Hartford Mutual Funds II, Inc., The Hartford Income Shares Fund, Inc., Hartford Series Fund, Inc., and Hartford HLS Series Fund II, Inc., which collectively consist of 100 funds. Correspondence may be sent to directors and officers c/o Hartford Mutual Funds, P.O. Box 2999, Hartford, Connecticut 06104-2999, except that correspondence to Ms. Fagely may be sent to 500 Bielenberg Drive, Woodbury, Minnesota 55125.

The table below sets forth, for each director and officer, his or her name, year of birth, current position with the Fund and date first elected or appointed to The Hartford Mutual Funds, Inc. (“MF”) and The Hartford Mutual Funds II, Inc. (“MF2”), principal occupation, and, for directors, other directorships held. The Fund’s statement of additional information contains further information on the directors and is available free of charge by calling 1-888-843-7824 or writing to Hartford Mutual Funds, P.O. Box 64387, St. Paul, MN 55164-0387.

Information on the aggregate remuneration paid to the directors of the Fund can be found in the Statement of Operations herein. The Fund pays a portion of the Chief Compliance Officer’s compensation, but does not pay salaries or compensation to any of its officers or directors who are employed by The Hartford.

Non-Interested Directors

Lynn S. Birdsong (1946) Director since 2003, Co-Chairman of the Investment Committee

Mr. Birdsong is a private investor. Since 1981, Mr. Birdsong has been a partner in Birdsong Company, an advertising specialty firm. Since 2003, Mr. Birdsong has been an independent director of The Japan Fund. From 2003 to March 2005, Mr. Birdsong was an independent director of the Atlantic Whitehall Funds. From 1979 to 2002, Mr. Birdsong was a managing director of Zurich Scudder Investments, an investment management firm. During his employment with Scudder, Mr. Birdsong was an interested director of The Japan Fund.

Robert M. Gavin, Jr. (1940) Director since 2002 (MF) and 1986 (MF2), Chairman of the Board since 2004

Dr. Gavin is an educational consultant. Prior to September 1, 2001, he was President of Cranbrook Education Community and prior to July 1996, he was President of Macalester College, St. Paul, Minnesota.

Duane E. Hill (1945) Director since 2001 (MF) and 2002 (MF2), Chairman of the Nominating Committee

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

Sandra S. Jaffee (1941) Director since 2005

Ms. Jaffee is Chairman and Chief Executive Officer of Fortent (formerly Searchspace Group), a leading provider of compliance/regulatory technology to financial institutions. Ms. Jaffee served as an Entrepreneur in Residence with Warburg Pincus, a private equity firm, from August 2004 to August 2005. From September 1995 to July 2004, Ms. Jaffee served as Executive Vice President at Citigroup, where she was President and Chief Executive Officer of Citibank’s Global Securities Services (1995-2003).

William P. Johnston (1944) Director since 2005, Chairman of the Compliance Committee

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

16

Phillip O. Peterson (1944) Director since 2002 (MF) and 2000 (MF2), Chairman of the Audit Committee

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

Lemma W. Senbet (1946) Director since 2005

Dr. Senbet is the William E. Mayer Chair Professor of Finance at the University of Maryland, Robert H. Smith School of Business. He was chair of the Finance Department during 1998-2006. Previously he was an endowed professor of finance at the University of Wisconsin-Madison. Also, he was director of the Fortis Funds from March 2000-July 2002. Dr. Senbet served the finance profession in various capacities, including as director of the American Finance Association and President of the Western Finance Association. In 2006, Dr. Senbet was inducted Fellow of Financial Management Association International for his career-long distinguished scholarship and professional service.

Interested Directors and Officers

Thomas M. Marra* (1958) Director since 2002

Mr. Marra has served as President and Chief Operating Officer of The Hartford Financial Services Group, Inc. (“The Hartford”) since 2007. Mr. Marra currently serves as Director of Hartford Life, Inc. (“HL, Inc.”). Mr. Marra served as Chief Operating Officer of Hartford Life Insurance Company, Inc. (“Hartford Life”) (2000-2008), as President of Hartford Life (2002-2008) and as Director of Hartford Life’s Investment Products Division from 1998 to 2000.

* On February 24, 2009, The Hartford and Mr. Marra determined to enter into a mutually agreed separation whereby Mr. Marra will retire, and his role as an executive officer and employee of The Hartford will terminate, effective July 3, 2009. Mr. Marra will resign his position as a Director of the Fund effective June 25, 2009.

Lowndes A. Smith (1939) Director since 2002, Co-Chairman of the Investment Committee

Mr. Smith served as Vice Chairman of The Hartford from February 1997 to January 2002, as President and Chief Executive Officer of Hartford Life, Inc. from February 1997 to January 2002, and as President and Chief Operating Officer of The Hartford Life Insurance Companies from January 1989 to January 2002. Mr. Smith serves as a Director of White Mountains Insurance Group, Ltd., One Beacon Insurance, Symetra Financial and as a Managing Director of Whittington Gray Associates.

John C. Walters* (1962) Director since 2008

Mr. Walters currently serves as Chief Executive Officer, President and Director of HL, Inc. Mr. Walters previously served as President of the U.S. Wealth Management Division of Hartford Life, Inc., as Co-Chief Operating Officer of Hartford Life Insurance Company (2007-2008) and as Executive Vice President and Director of its Investment Products Division (2000-2008). Mr. Walters also serves as Chairman of the Board, Chief Executive Officer, President and Director of Hartford Life Insurance Company and as Executive Vice President of The Hartford. In addition, Mr. Walters is Manager of HL Investment Advisors, LLC (“HL Advisors”).

* Mr. Walters previously served as President and Chief Executive Officer of the Fund (2007 — 2009).

Other Officers

Robert M. Arena, Jr. (1968) President and Chief Executive Officer since 2009 (served as Vice President of the Fund (2006 — 2009))

Mr. Arena serves as Executive Vice President of Hartford Life Insurance Company, (“Hartford Life”). Additionally, Mr. Arena is Director and Senior Vice President of Hartford Administrative Services Company, (“HASCO”), Manager, Chief Executive Officer and President of Hartford Investment Financial Services, LLC (“HIFSCO”) and HL Advisors. Prior to joining The Hartford in 2004, he was Senior Vice President in charge of Product Management for American Skandia/Prudential in the individual annuities division. Mr. Arena joined American Skandia in 1996.

Tamara L. Fagely (1958) Vice President, Treasurer and Controller since 2002 (MF) 1993 (MF2)

Ms. Fagely has been a Vice President of HASCO since 1998 and Chief Financial Officer since 2006. Currently Ms. Fagely is a Vice President of Hartford Life. She served as Assistant Vice President of Hartford Life from December 2001 through March 2005. In addition, Ms. Fagely is Controller and Chief Financial Officer of HIFSCO.

Brian Ferrell (1962) AML Compliance Officer since 2008

Mr. Ferrell has served as Assistant Vice President and AML Compliance Officer for The Hartford since 2006 and as AML Compliance Officer for HASCO and Hartford Investor Services Company, LLC (“HISC”) since 2008. Prior to joining The Hartford in 2006, Mr. Ferrell held various positions at the U.S. Department of the Treasury, (the “Treasury”), from 2001 to 2006 where he served as Chief Counsel for the Treasury’s Financial Crimes Enforcement Network, (“FinCEN”) from 2005 — 2006.

17

The Hartford Target Retirement 2025 Fund

Directors and Officers (Unaudited) — (continued)

Thomas D. Jones, III (1965) Vice President and Chief Compliance Officer since 2006

Mr. Jones serves as Chief Compliance Officer for the Hartford Mutual Funds and Vice President and Director of Securities Compliance for The Hartford. He is also Vice President of HIFSCO, HL Advisors, and Hartford Life Insurance Company. Mr. Jones joined The Hartford in 2006 from SEI Investments, where he served as Chief Compliance Officer for its mutual funds and investment advisers. Prior to joining SEI, Mr. Jones was First Vice President and Compliance Director for Merrill Lynch Investment Managers (Americas) (“MLIM”), where he worked from 1992-2004. At MLIM, Mr. Jones was responsible for the compliance oversight of various investment products, including mutual funds, wrap accounts, institutional accounts and alternative investments.

Edward P. Macdonald (1967) Vice President, Secretary and Chief Legal Officer since 2005

Mr. Macdonald serves as Assistant General Counsel and Assistant Vice President of The Hartford and Chief Legal Officer and Vice President of HIFSCO. He also serves as Vice President and Secretary of HASCO, Assistant Vice President of Hartford Life, and Chief Legal Officer, Secretary and Vice President of HL Advisors. Prior to joining The Hartford in 2005, Mr. Macdonald was Chief Counsel, Investment Management for Prudential Financial (formerly American Skandia Investment Services, Inc.). He joined Prudential in April 1999.

Vernon J. Meyer (1964) Vice President since 2006

Mr. Meyer serves as Senior Vice President of Hartford Life and as Director of its Investment Advisory Group in the Individual Markets Group segment. He also serves as Senior Vice President of HIFSCO and HL Advisors. Prior to joining The Hartford in 2004, Mr. Meyer was with MassMutual which he joined in 1987.

D. Keith Sloane (1960) Vice President since 2009

Mr. Sloane is a Senior Vice President of Hartford Life where he serves as Director of mutual fund product management for The Hartford’s mutual funds and 529 college savings businesses. Additionally, Mr. Sloane currently serves as Senior Vice President of HIFSCO, HL Advisors, and HASCO. Prior to joining The Hartford in 2007, Mr. Sloane was Director of product marketing and led the mutual fund business for Wachovia Securities (“Wachovia”) in their investment products group. Mr. Sloane joined Wachovia in 1995.

Jane Wolak (1961) Vice President since 2009

Ms. Wolak currently serves as Vice President of Hartford Life. Ms. Wolak joined Hartford Life as Vice President, Retail Product Services in May 2007. She is also Vice President of HASCO. Previously, Ms. Wolak was with Sun Life Financial where she held the position of Vice President, Service Center Operations from 2001 — 2007.

HOW TO OBTAIN A COPY OF THE FUND’S PROXY VOTING POLICIES AND VOTING RECORDS

A description of the policies and procedures that the Fund uses to determine how to vote proxies relating to portfolio securities and a record of how the Fund voted any proxies for the twelve-month period ended June 30, 2008 is available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov.

QUARTERLY PORTFOLIO HOLDINGS INFORMATION

The Fund files a complete schedule of portfolio holdings with the Commission for the first and third quarters of each fiscal year on Form N-Q. The Fund’s Forms are available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov. The Form N-Q may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330.

18

The Hartford Target Retirement 2025 Fund

Expense Example (Unaudited)

Your Fund’s Expenses

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments and contingent deferred sales charges (CDSC) (2) ongoing costs including management fees; distribution fees; and other fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the period of October 31, 2008 through April 30, 2009.

Actual Expenses

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

Hypothetical Example for Comparison Purposes

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

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads) and CDSC. Therefore, the second line 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 are equal to the Fund’s annualized expense ratios multiplied by average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

	Actual return						Hypothetical (5% return before expenses)
					Expenses paid						Expenses paid					Days in
					during the period						during the period					the		Days
	Beginning		Ending Account		October 31, 2008		Beginning		Ending Account		October 31,		Annualized			current		in the
	Account Value		Value		through		Account Value		Value		2008 through		expense			1/2		full
	October 31, 2008		April 30, 2009		April 30, 2009		October 31, 2008		April 30, 2009		April 30, 2009		ratio			year		year
Class R3	$	1,000.00	$	987.09	$	2.06	$	1,000.00	$	1,022.71	$	2.10		0.42	%		181		365
Class R4	$	1,000.00	$	987.63	$	0.59	$	1,000.00	$	1,024.19	$	0.60		0.12			181		365
Class R5	$	1,000.00	$	988.72	$	0.34	$	1,000.00	$	1,024.44	$	0.35		0.07			181		365

19

The Hartford Target Retirement 2030 Fund

Table of Contents

Manager Discussions (Unaudited)	2
Financial Statements
Schedule of Investments at April 30, 2009 (Unaudited)	4
Statement of Assets and Liabilities at April 30, 2009 (Unaudited)	5
Statement of Operations for the Six Month Period Ended April 30, 2009 (Unaudited)	6
Statement of Changes in Net Assets for the Six Month Period Ended April 30, 2009 (Unaudited) and the Year Ended October 31, 2008	7
Notes to Financial Statements (Unaudited)	8
Financial Highlights (Unaudited)	17
Directors and Officers (Unaudited)	18
How to Obtain a Copy of the Fund’s Proxy Voting Policies and Proxy Voting Records (Unaudited)	20
Quarterly Portfolio Holdings Information (Unaudited)	20
Expense Example (Unaudited)	21

The Hartford Target Retirement 2030 Fund

(subadvised by Hartford Investment Management Company)

Performance Overview(1) 9/30/05 — 4/30/09
Growth of a $10,000 investment in Class A which includes Sales Charge

Barclays Capital U.S. Aggregate Bond Index is an unmanaged index and is composed of securities from the Barclays Capital Government/Credit Bond Index, Mortgage-Backed Securities Index, Asset-Backed Securities Index and Commercial Mortgage-Backed Securities Index.

S&P 500 Index is a market capitalization weighted price index composed of 500 widely held common stocks.

You cannot invest directly in an index.

The value of shares will fluctuate so that, when redeemed, shares may be worth more or less than their original cost. The chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.

Investment objective – Seeks to maximize total return and secondarily, to seek capital preservation.

Average Annual Total Returns(2,3,4) (as of 4/30/09)

	Inception		1			Since
	Date		Year			Inception
Target Retirement 2030 A#		9/30/05		-31.25	%		-5.62	%
Target Retirement 2030 A##		9/30/05		-35.03	%		-7.10	%
Target Retirement 2030 B#		9/30/05		-31.60	%		-6.20	%
Target Retirement 2030 B##		9/30/05		-34.97	%		-6.86	%
Target Retirement 2030 C#		9/30/05		-31.67	%		-6.25	%
Target Retirement 2030 C##		9/30/05		-32.34	%		-6.25	%
Target Retirement 2030 R3#		9/30/05		-31.44	%		-5.76	%
Target Retirement 2030 R4#		9/30/05		-31.24	%		-5.58	%
Target Retirement 2030 R5#		9/30/05		-31.15	%		-5.49	%
Target Retirement 2030 Y#		9/30/05		-31.10	%		-5.35	%

#	Without sales charge
##	With sales charge

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)	Growth of a $10,000 investment in Classes B, C, R3, R4, R5 and Y shares will vary from results seen above due to differences in the expenses charged to these share classes.
(2)	Class R3, R4 and R5 shares commenced operations on 12/22/06. Performance prior to 12/22/06 reflects Class Y performance.
(3)	The initial investment in Class A shares reflects the maximum sales charge and Classes B and C reflect CDSC.
(4)	Total returns presented above were calculated using the Fund’s net asset value available to shareholders for sale or redemption of Fund shares on April 30, 2009, which excludes investment transactions as of this date.

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

Portfolio Managers
Hugh Whelan, CFA	Edward C. Caputo, CFA
Managing Director	Vice President

How did the Fund perform?

The Class A shares of The Hartford Target Retirement 2030 Fund returned -1.59%, before sales charge, for the six-month period ended April 30, 2009. In comparison, its benchmarks, the S&P 500 Index and the Barclays Capital U.S. Aggregate Bond Index, returned -8.53% and 7.74%, respectively, while the average return of the Lipper Mixed-Asset Target 2030 Funds category, a group of funds with investment strategies similar to those of the Fund, was -3.48%.

Why did the Fund perform this way?

The U.S. recession continued to deepen during the six-month period under review. Rising unemployment weighed on personal income and spending, while first quarter industrial production posted the steepest quarterly decline in more than 30 years. However, as the six-month period drew to a close, there were some signs that perhaps the rate of economic decline was beginning to slow. Financial conditions stabilized a bit, while the Federal Reserve’s purchases of long-term Treasuries and mortgage-backed securities also provided strong support for the mortgage market, driving fixed mortgage rates lower. Generally, the Fund’s target asset allocation is set at approximately 81% equities and 19% fixed-income.

This environment initially created another difficult period for stocks, with the S&P 500 Index closing at a new low of 676.53 on March 9, down

2

-29.30% since the start of the 6-month period. However, emergent signs of a slowdown in the economy’s free-fall helped lift the index through the remainder of the period, leaving it down -8.53% for the period. The index was in the black in March and April, gaining 8.76% and 9.57%, respectively, for a gain of 29.38% from March 9 through the end of the period. Declines were widespread across equity asset classes during the six-month period. Among the eleven equity asset classes in our investment universe, emerging market stocks, EAFE small cap stocks, and U.S. midcap growth stock indices posted positive returns over the 6-month period. U.S. Real-Estate Investment Trusts (REITS) led the way lower during the period, while growth stocks continued to outperform value stocks across all market capitalization levels. International stocks outperformed U.S. stocks.

In fixed income, five and ten year Treasury yields increased during the 6-month period. Within the major sectors of the Barclays Capital U.S. Aggregate Bond Index, investment grade credit was the top performer at 11.47%, while commercial mortgage backed securities (CMBS) were the weakest performer at 1.32%. In the high yield asset classes, high yield bonds and emerging markets debt both outperformed the Barclays Capital U.S. Aggregate Bond Index, while floating rate notes did not. In addition, Treasury Inflation-Protection Securities (TIPS) were the best performing investment grade asset class in our investment universe at 9.46%.

There are two main drivers of the Fund’s performance: asset allocation among various asset classes and performance of the underlying funds. With regard to asset allocation, the Fund maintains relatively fixed exposures to the equity and fixed income markets. Therefore, we seek to add value by strategically allocating within the equity and fixed income investment sub asset classes. Our asset allocation decisions over the period improved the Fund’s performance.

Concerning the Fund’s equity exposure, favorable allocations to emerging market stocks and international small cap stocks helped offset unfavorable allocations to U.S. stocks. By design, the Fund also maintains exposure to various fixed income asset classes to deliver a well diversified portfolio solution. The Fund also benefited from its allocation to TIPS. Based on the risk preferences of the Fund’s mandate, the portfolio’s duration (a measure of a bond’s sensitivity to changes in interest rates) is targeted to be greater than the Barclay’s Capital U.S. Aggregate Bond Index. The Fund benefited from the longer duration positioning.

Beyond the asset allocation decision, we also seek to add value by selecting the underlying mutual funds that will most effectively deliver the target asset class exposures. We analyze all of the funds in our investment universe, looking through each fund’s objectives and stated benchmark to see what it actually holds and how it behaves. During the period, the Fund benefited from underlying fund selection.

During the period, the Fund continued to utilize Exchange-Traded Funds (ETFs) to obtain asset class exposures otherwise unavailable through The Hartford family of funds. Specifically, the Fund has target allocations to ETFs that provide U.S. real estate and international real estate exposure, as well as emerging market debt exposure.

Whenever possible, we rely on cash flows to execute our allocation changes. During the period, a hard rebalance (i.e. a fund rebalancing to move the underlying fund investments to their target allocation percentages) was executed to bring the fund allocations closer to their targets. In addition, we have changed the target allocation to stocks and bonds from 82% stock and 18% bond to 81% stock and 19% bond.

What is the outlook?

In fixed income, risk premiums (the additional compensation paid to investors to tolerate the increased level of risk in a given asset class relative to Treasuries) across most asset classes reversed course and began to contract as conditions improved and volatility declined. An onslaught of government policy, from fiscal stimulus to quantitative easing, was the primary catalyst and buyers of historically inexpensive corporate debt emerged as more market participants recognized relative value versus equities. Although risk premiums have come off their historical peak, spreads remain significantly wider (i.e. short and long term interest rates farther apart) than in prior recessions.

In equities the earnings picture is cloudy. First, earnings are falling at near record-breaking rates and all indications are that they will continue to fall. Second, the quality and reliability of the earnings reported is lower than historical standards as the gap between pro forma (“street”) earnings and GAAP (Generally Accepted Accounting Principles) earnings rose in the past several months. Third, there is little clarity in future earnings prospects as the disparity among analyst estimates for future earnings remains at elevated levels. Historically, such consensus building was a precondition to the final, sustained recovery from bear markets associated with recessions.

That said, we believe that investors are well served by adhering to a strategic, diversified portfolio and rebalancing accordingly. We construct these portfolios based upon the long-term properties of asset classes. We look at their long-term returns, volatilities, and correlations between each other and run optimizations to build an optimal portfolio.

Composition by Underlying Fund
as of April 30, 2009

	Percentage of Net
Fund Name	Assets
SPDR DJ Wilshire International Real Estate ETF		1.1	%
SPDR DJ Wilshire REIT ETF		1.2
The Hartford Capital Appreciation Fund, Class Y		15.4
The Hartford Capital Appreciation II Fund, Class Y		3.2
The Hartford Disciplined Equity Fund, Class Y		5.2
The Hartford Dividend and Growth Fund, Class Y		4.5
The Hartford Equity Income Fund, Class Y		3.0
The Hartford Fundamental Growth Fund, Class Y		0.5
The Hartford Global Growth Fund, Class Y		3.5
The Hartford Growth Fund, Class Y		4.8
The Hartford Growth Opportunities Fund, Class Y		3.5
The Hartford Inflation Plus Fund, Class Y		4.9
The Hartford International Opportunities Fund, Class Y		4.6
The Hartford International Small Company Fund, Class Y		4.6
The Hartford MidCap Fund, Class Y		1.3
The Hartford MidCap Value Fund, Class Y		0.1
The Hartford Select MidCap Value Fund, Class Y		1.2
The Hartford Select SmallCap Value Fund, Class Y		4.1
The Hartford Small Company Fund, Class Y		3.3
The Hartford Total Return Bond Fund, Class Y		14.1
The Hartford Value Fund, Class Y		15.7
Other Assets and Liabilities		0.2
Total		100.0	%

3

The Hartford Target Retirement 2030 Fund

Schedule of Investments

April 30, 2009 (Unaudited)
(000’s Omitted)

Shares or Principal Amount					Market Value ╪
AFFILIATED INVESTMENT COMPANIES - 97.5%
EQUITY FUNDS - 78.5%
	196	The Hartford Capital Appreciation Fund, Class Y			$	4,853
	113	The Hartford Capital Appreciation II Fund, Class Y •				1,011
	182	The Hartford Disciplined Equity Fund, Class Y				1,647
	105	The Hartford Dividend and Growth Fund, Class Y				1,431
	104	The Hartford Equity Income Fund, Class Y				940
	20	The Hartford Fundamental Growth Fund, Class Y •				155
	101	The Hartford Global Growth Fund, Class Y •				1,104
	125	The Hartford Growth Fund, Class Y •				1,506
	62	The Hartford Growth Opportunities Fund, Class Y				1,110
	144	The Hartford International Opportunities Fund, Class Y				1,459
	185	The Hartford International Small Company Fund, Class Y				1,441
	26	The Hartford MidCap Fund, Class Y •				411
	3	The Hartford MidCap Value Fund, Class Y				24
	63	The Hartford Select MidCap Value Fund, Class Y				394
	196	The Hartford Select SmallCap Value Fund, Class Y				1,300
	80	The Hartford Small Company Fund, Class Y •				1,048
	615	The Hartford Value Fund, Class Y				4,959
		Total equity funds (cost $33,403)			$	24,793
FIXED INCOME FUNDS - 19.0%
	146	The Hartford Inflation Plus Fund, Class Y			$	1,563
	464	The Hartford Total Return Bond Fund, Class Y				4,457
		Total fixed income funds (cost $6,205)			$	6,020
		Total investments in affiliated investment companies (cost $39,608)			$	30,813
EXCHANGE TRADED FUNDS - 2.3%
	14	SPDR DJ Wilshire International Real Estate ETF			$	337
	11	SPDR DJ Wilshire REIT ETF				383
		Total exchange traded funds (cost $949)			$	720
		Total long-term investments (cost $40,557)			$	31,533
		Total investments (cost $40,557) ▲	99.8	%	$	31,533
		Other assets and liabilities	0.2	%		58
		Total net assets	100.0	%	$	31,591

Note:	Percentage of investments as shown is the ratio of the total market value to total net assets.
▲	At April 30, 2009, the cost of securities for federal income tax purposes was $40,720 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	190
Unrealized Depreciation		(9,377	)
Net Unrealized Depreciation	$	(9,187	)

•	Currently non-income producing.
╪	See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of securities.

FAS 157 Disclosure of Investment Valuation Hierarchy Levels

Assets:
Investment in securities — Level 1	$	31,533
Total	$	31,533

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

4

The Hartford Target Retirement 2030 Fund

Statement of Assets and Liabilities

April 30, 2009 (Unaudited)
(000’s Omitted)

Assets:
Investments in securities, at fair value (cost $949)	$	720
Investments in underlying affiliated funds, at fair value (cost $39,608)		30,813
Receivables:
Fund shares sold		40
Dividends and interest		13
Other assets		54
Total assets		31,640
Liabilities:
Payables:
Investment securities purchased		40
Fund shares redeemed		1
Investment management fees		1
Distribution fees		1
Accrued expenses		6
Total liabilities		49
Net assets	$	31,591
Summary of Net Assets:
Capital stock and paid-in-capital		42,338
Accumulated undistributed net investment income		69
Accumulated net realized loss on investments		(1,792	)
Unrealized depreciation of investments		(9,024	)
Net assets	$	31,591
Shares authorized		950,000
Par value	$	0.001
Class A: Net asset value per share/Maximum offering price per share	$	6.56/$6.94
Shares outstanding		1,939
Net assets	$	12,711
Class B: Net asset value per share	$	6.56
Shares outstanding		103
Net assets	$	673
Class C: Net asset value per share	$	6.55
Shares outstanding		119
Net assets	$	778
Class R3: Net asset value per share	$	6.51
Shares outstanding		181
Net assets	$	1,178
Class R4: Net asset value per share	$	6.54
Shares outstanding		1,861
Net assets	$	12,176
Class R5: Net asset value per share	$	6.55
Shares outstanding		618
Net assets	$	4,051
Class Y: Net asset value per share	$	6.57
Shares outstanding		4
Net assets	$	24

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

5

The Hartford Target Retirement 2030 Fund

Statement of Operations

For the Six Month Period Ended April 30, 2009 (Unaudited)
(000’s Omitted)

Investment Income:
Dividends	$	14
Dividends from underlying affiliated funds		392
Total investment income		406
Expenses:
Investment management fees		20
Transfer agent fees		12
Distribution fees
Class A		14
Class B		3
Class C		4
Class R3		3
Class R4		11
Custodian fees		—
Accounting services		2
Registration and filing fees		33
Board of Directors’ fees		1
Audit fees		3
Other expenses		15
Total expenses (before waivers)		121
Expense waivers		(94	)
Transfer agent fee waivers		(2	)
Total waivers		(96	)
Total expenses, net		25
Net investment income		381
Net Realized Loss on Investments:
Net realized loss on investments in underlying affiliated funds		(1,251	)
Net Realized Loss on Investments		(1,251	)
Net Changes in Unrealized Appreciation of Investments:
Net unrealized appreciation of investments		765
Net Changes in Unrealized Appreciation of Investments		765
Net Loss on Investments		(486	)
Net Decrease in Net Assets Resulting from Operations	$	(105	)

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

6

The Hartford Target Retirement 2030 Fund

Statement of Changes in Net Assets

(000’s Omitted)

	For the Six-Month
	Period Ended			For the
	April 30, 2009			Year Ended
	(Unaudited)			October 31, 2008
Operations:
Net investment income	$	381		$	238
Net realized loss on investments		(1,251	)		(69	)
Net unrealized appreciation (depreciation) of investments		765			(11,227	)
Net decrease in net assets resulting from operations		(105	)		(11,058	)
Distributions to Shareholders:
From net investment income
Class A		(211	)		(531	)
Class B		(9	)		(17	)
Class C		(11	)		(15	)
Class R3		(22	)		—
Class R4		(157	)		(34	)
Class R5		(60	)		—
Class Y		—			(1	)
From net realized gain on investments
Class A		—			(147	)
Class B		—			(5	)
Class C		—			(4	)
Class R4		—			(7	)
Total distributions		(470	)		(761	)
Capital Share Transactions:
Class A		535			4,442
Class B		89			392
Class C		50			727
Class R3		135			1,285
Class R4		4,599			9,923
Class R5		1,507			3,411
Class Y		1			2
Net increase from capital share transactions		6,916			20,182
Net increase in net assets		6,341			8,363
Net Assets:
Beginning of period		25,250			16,887
End of period	$	31,591		$	25,250
Accumulated undistributed net investment income	$	69		$	158

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

7

The Hartford Target Retirement 2030 Fund

Notes to Financial Statements

April 30, 2009 (Unaudited)
(000’s Omitted)

1.	Organization:
	The Hartford Mutual Funds, Inc. (“Company”) is an open-end management investment company comprised of fifty-two portfolios. Financial statements for The Hartford Target Retirement 2030 Fund (the “Fund”), a series of the Company, are included in this report.
	The Company is organized under the laws of the State of Maryland and is registered with the Securities and Exchange Commission (“SEC”) under the Investment Company Act of 1940, as amended (“1940 Act”). The Fund is a diversified open-end management investment company.
	Class A shares are sold with a front-end sales charge of up to 5.50%. Class B shares are sold with a contingent deferred sales charge which is assessed on the lesser of the per share net asset value (“NAV”) of the shares at the time of redemption or the original purchase price, and declines from up to 5.00% to zero depending on the period of time the shares are held. Class C shares are sold with a contingent deferred sales charge of up to 1.00% on shares redeemed within twelve months of purchase. Classes R3, R4, R5 shares, which are offered to employer-sponsored retirement plans, and Class Y shares, which are sold to certain eligible institutional investors, are sold without a sales charge. All classes of shares have identical voting, redemption, dividend, liquidation and other rights and the same terms and conditions, with the exceptions that each class may have different expenses, which may affect performance, and except that Class B shares automatically convert to Class A shares after 8 years.
	The Fund, as a “Fund of Funds”, invests the majority of its assets in Class Y shares of other Hartford mutual funds (“Underlying Funds”) as well as certain exchange-traded funds (“ETFs”). The Fund seeks its investment goals through implementation of a strategic asset allocation recommendation provided by Hartford Investment Management Company (“Hartford Investment Management”), a wholly-owned indirect subsidiary of The Hartford Financial Services Group, Inc. (“The Hartford”).
2.	Significant Accounting Policies:
	The accounting policies of the affiliated underlying funds are outlined in the shareholder reports for such funds, available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov. The reports may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330. The affiliated Underlying Funds are not covered by this report.
	The following is a summary of significant accounting policies of the Fund, which are in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”).

a)	Security Transactions and Investment Income - Security transactions are recorded on the trade date (the date the order to buy or sell is executed). Security gains and losses are determined on the basis of identified cost.
	Dividend income is accrued as of the ex-dividend date. Income and capital gain distributions from Underlying Funds are recorded on the ex-dividend date.
b)	Security Valuation – Investments in open-end mutual funds are valued at the respective NAV of each open-end mutual fund on the valuation date.
	The Fund generally uses market prices in valuing portfolio securities. If market prices are not readily available or are deemed unreliable, the Fund will use the fair value of the security as determined in good faith under policies and procedures established by and under the supervision of the Fund’s Board of Directors. Market prices may be deemed unreliable, for example, if a security is thinly traded or if an event has occurred after the close of the security’s primary

8

markets, but before the close of the New York Stock Exchange (the “Exchange”) (normally 4:00 p.m. Eastern Time, referred to as the “Valuation Time”) that is expected to affect the value of the portfolio security. The circumstances in which the Fund may use fair value pricing include, among others: (i) the occurrence of events that are significant to a particular issuer, such as mergers, restructuring or defaults; (ii) the occurrence of events that are significant to an entire market, such as natural disasters in a particular region or governmental actions; (iii) trading restrictions on securities; (iv) thinly traded securities and (v) market events such as trading halts and early market closings. In addition, with respect to the valuation of stocks primarily traded on foreign markets, the Fund uses a fair value pricing service approved by the Fund’s Board of Directors, which employs quantitative models that evaluate changes in the value of foreign market proxies (e.g., futures contracts, ADR’s, exchange traded funds (“ETF’s”)) after the close of the foreign markets but before the close of the Exchange. Securities that are primarily traded on foreign markets may trade on days that are not business days of the Fund. The value of the foreign securities in which the Fund invests may change on days when a shareholder will not be able to purchase or redeem shares of the Fund. Fair value pricing is subjective in nature and the use of fair value pricing by the Fund may cause the NAV of its shares to differ significantly from the NAV that would have been calculated using market prices at the close of the exchange on which a portfolio security is primarily traded but before the close of the Exchange. There can be no assurance that the Fund could obtain the fair value assigned to a security if the Fund were to sell the security at approximately the time at which the Fund determines its NAV.

Debt securities (other than short-term obligations and senior floating rate interests) held by the Fund are valued on the basis of valuations furnished by an independent pricing service which determines valuations for normal institutional size trading units of debt securities. Senior floating rate interests generally trade in over-the-counter markets and are priced through an independent pricing service utilizing independent market quotations from loan dealers or financial institutions. Securities for which prices are not available from an independent pricing service are valued using market quotations obtained from one or more dealers that make markets in the securities in accordance with procedures established by the Fund’s Board of Directors. Generally, the Fund may use fair valuation in regard to debt securities when the Fund holds defaulted or distressed securities or securities in a company in which a reorganization is pending. Short-term investments with a maturity of more than 60 days when purchased are valued based on market quotations until the remaining days to maturity become less than 61 days. Investments that mature in 60 days or less are valued at amortized cost, which approximates market value.

Exchange traded equity securities shall be valued at the last reported sale price on the exchange or market on which the security is primarily traded (the “Primary Market”) at the Valuation Time. If the security did not trade on the Primary Market, it may be valued at the Valuation Time at the last reported sale price on another exchange where it trades. The value of an equity security not traded on any exchange but traded on the Nasdaq Stock Market, Inc. (“Nasdaq”) or another over-the-counter market shall be valued at the last reported sale price or official closing price on the exchange or market on which the security is traded as of the Valuation Time. If it is not possible to determine the last reported sale price or official closing price on the relevant exchange or market at the Valuation Time, the value of the security shall be taken to be the most recent mean between bid and asked prices on such exchange or market at the Valuation Time.

Securities of foreign issuers and non-dollar securities are translated from the local currency into U.S. dollars using prevailing exchange rates.

Options contracts on securities, currencies, indexes, futures contracts, commodities and other instruments shall be valued at their most recent sales price at the Valuation Time on the Primary Market on which the instrument is primarily traded. If the instrument did not trade on the Primary Market, it may be valued at the most recent sales price at the Valuation Time on another exchange or market where it did trade.

Futures contracts are valued at the most recent settlement price reported by an exchange on which, over time, they are traded most extensively. If a settlement price is not available, futures contracts will be valued at the most recent trade price as of the Valuation Time. If there were no trades, the contract shall be valued at the mean of the closing bid/ask prices as of the Valuation Time.

9

The Hartford Target Retirement 2030 Fund

Notes to Financial Statements — (continued)
 April 30, 2009 (Unaudited)
(000’s Omitted)

	Financial instruments for which prices are not available from an independent pricing service are valued using market quotations obtained from one or more dealers that make markets in securities in accordance with procedures established by the Fund’s Board of Directors.
	A forward currency contract shall be valued based on the price of the underlying currency at the prevailing interpolated exchange rate, which is a combination of the spot currency rate and the forward currency rate. Spot currency rates and forward currency rates are obtained from an independent pricing service on a daily basis not more than one hour before the Valuation Time.
	Swaps are valued based on custom valuations furnished by an independent pricing service. Swaps for which prices are not available from an independent pricing service are valued in accordance with procedures established by the Fund’s Board of Directors.
	Other derivative or contractual type instruments shall be valued using market prices if such instruments trade on an exchange or market. If such instruments do not trade on an exchange or market, such instruments shall be valued at a price at which the counterparty to such contract would repurchase the instrument. In the event that the counterparty cannot provide a price, such valuation may be determined in accordance with procedures established by the Fund’s Board of Directors.
c)	Indexed Securities — The Fund may invest in indexed securities whose values are linked to changes in interest rates, indices, or other underlying instruments. The Fund uses these securities to increase or decrease its exposure to different underlying instruments and to gain exposure to markets that might be difficult to invest in using conventional securities. Indexed securities may be more volatile than their underlying instruments, but any loss is limited to the amount of the original investment and there may be a limit to the potential appreciation of the investment. The Fund had investments in indexed securities as of April 30, 2009, as shown on the Schedule of Investments under Exchange Traded Funds.
d)	Fund Share Valuation and Dividend Distributions to Shareholders — Orders for the Fund’s shares are executed in accordance with the investment instructions of the shareholders. The NAV of the Fund’s shares is determined as of the close of each business day of the Exchange. The NAV is determined separately for each class of the Fund by dividing the Fund’s net assets attributable to that class by the number of shares of the class outstanding. Orders for the purchase of the Fund’s shares prior to the close of the Exchange on any day on which the Exchange is open for business are priced at the NAV determined as of the close of the Exchange. Orders after the close of the Exchange, or on a day on which the Exchange and/or the Fund is not open for business, are priced at the next determined NAV.
	The Fund intends to distribute substantially all of its net investment income and net realized capital gains to shareholders no less frequently than once a year. Normally, dividends from net investment income of the Fund are declared and paid annually. Dividends are paid on shares beginning on the business day after the day when the funds used to purchase the shares are collected by the transfer agent for the Fund. Long-term capital gains distributions received from underlying funds are distributed at least annually, when required. Unless shareholders specify otherwise, all dividends and distributions will be automatically reinvested in additional full or fractional shares of the Fund.
	Distributions from net investment income, realized capital gains and capital are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP with respect to character and timing. These differences include but are not limited to foreign currency gains and losses, losses deferred due to wash sales adjustments, adjustments related to Passive Foreign Investment Companies and certain derivatives, and excise tax regulations. Permanent book and federal income tax basis differences relating to shareholder distributions will result in reclassifications to certain of the Fund’s capital accounts (see Federal Income Taxes: Reclassification of Capital Accounts footnote).
e)	Use of Estimates — The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial

10

	statements and the reported amounts of income and expenses during the period. Operating results in the future could vary from the amounts derived from management’s estimates.
f)	Financial Accounting Standards Board Financial Accounting Standards No. 157 – Effective November 1, 2008, the Fund adopted Financial Accounting Standards Board (“FASB”) Statement of Financial Accounting Standards No. 157, “Fair Value Measurements” (“FAS 157”). This standard clarifies the definition of fair value for financial reporting, establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements. Fair value is defined under FAS 157 as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Under FAS 157, a fair value measurement should reflect all of the assumptions that market participants would use in pricing the asset or liability, including assumptions about the risk inherent in a particular valuation technique, the effect of a restriction on the sale or use of an asset, and the risk of nonperformance.
	Various inputs are used in determining the value of the Fund’s investment. These inputs are summarized, per FAS 157, into three broad hierarchy levels. This hierarchy is based on whether the valuation inputs are observable or unobservable. These levels are:

• Level 1 – Quoted prices in active markets for identical securities. Level 1 includes exchange-traded instruments such as domestic equities, some foreign equities, options, futures, mutual funds, ETF’s, and rights and warrants.

• Level 2 – Observable inputs other than Level 1 prices, such as quoted prices for similar securities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the security. Level 2 includes debt securities that are traded less frequently than exchange-traded instruments and that are valued using third party pricing services and foreign equities, whose value is determined using a multi-factor regression model with inputs that are observable in the market; and money market instruments, which are carried at amortized cost.

• Level 3 – Significant unobservable inputs that are supported by little or no market activity. Level 3 includes financial instruments whose values are determined using broker quotes and require significant management judgment or estimation. This category includes broker quoted securities, long dated OTC options and securities where trading has been halted or there are certain restrictions on trading. While these securities are priced using unobservable inputs, the valuation of these securities reflects the best available data and management believes the prices are a good representation of exit price.

	Individual securities within any of the above mentioned asset classes may be assigned a different hierarchical level than those presented above, as individual circumstances dictate.
	FAS 157 also requires that a roll forward reconciliation be shown for all Level 3 securities from the beginning of the reporting period to the end of the reporting period. Part of this reconciliation includes transfers in and/or out of Level 3. For purposes of this reconciliation, transfers in are shown at the end of period fair value and transfers out are shown at the beginning of period fair value. During the six-month period ended April 30, 2009, the Fund held no Level 3 securities.
	FASB Staff Position No. 157-4 – In April 2009, FASB released FASB Staff Position No. 157-4, “Determining Fair Value When the Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly” (“FSP FAS 157-4”). FSP FAS 157-4 provides additional guidance on determining whether a market for a financial asset is not active and a transaction is not distressed when measuring fair value under FAS 157. The FSP also requires additional disclosure detail on debt and equity securities by major investment categories. FSP FAS 157-4 is effective for interim and annual periods ending after June 15, 2009. At this time, management is evaluating the implications of FSP FAS 157-4 and does not believe it will impact valuation but will require additional disclosure. This additional disclosure has not yet been implemented.
g)	Financial Accounting Standards Board Financial Accounting Standards No. 161 – In March 2008, the FASB released Statement of Financial Accounting Standards No. 161, “Disclosures about Derivative Instruments and Hedging

11

The Hartford Target Retirement 2030 Fund

Notes to Financial Statements – (continued)
 April 30, 2009 (Unaudited)
(000’s Omitted)

Activities” (“FAS 161”). FAS 161 requires companies to disclose information detailing the objectives and strategies for using derivative instruments, the level of derivative activity entered into by the company and any credit risk-related contingent features of the agreements. The application of FAS 161 is required for fiscal years and interim periods beginning after November 15, 2008. At this time, management is evaluating the implications of FAS 161 and has not yet implemented the new disclosure standard.

h)

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

3. Federal Income Taxes:

a)

Federal Income Taxes - For federal income tax purposes, the Fund intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code (“IRC”) by distributing substantially all of its taxable net investment income and net realized capital gains to its shareholders and otherwise complying with the requirements of regulated investment companies. The Fund has distributed substantially all of its income and capital gains in prior years and the Fund intends to distribute substantially all of its income and gains during the calendar year ending December 31, 2009. Accordingly, no provision for federal income or excise taxes has been made in the accompanying financial statements. Distributions from short-term capital gains are treated as ordinary income distributions for federal income tax purposes.

b)

The tax character of distributions paid by the Fund for the periods indicated is as follows (as adjusted for dividends payable):

	For the Year Ended		For the Year Ended
	October 31, 2008		October 31, 2007
Ordinary Income	$	684	$	44
Long-Term Capital Gains *		77		1

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

As of October 31, 2008, the Fund’s components of distributable earnings (deficit) on a tax basis were as follows:

	Amount
Undistributed Ordinary Income	$	158
Accumulated Capital Losses*	$	(378	)
Unrealized Depreciation†	$	(9,952	)
Total Accumulated Deficit	$	(10,172	)

*	The Fund has capital loss carryforwards that are identified in the Capital Loss Carryforward note that follows.
†	The differences between book-basis and tax-basis unrealized appreciation (depreciation) are attributable to the tax deferral of wash sales losses, the mark-to-market adjustment for certain derivatives in accordance with IRC Sec. 1256, the mark to market for Passive Foreign Investment Companies and basis differences in real estate investment trusts.

c) Reclassification of Capital Accounts - In accordance with American Institute of Certified Public Accountants (AICPA) Statement of Position 93-2, Determination, Disclosure, and Financial Statement Presentation of Income, Capital Gain, and Return of Capital Distributions by Investment Companies, the Fund has recorded reclassifications in its capital

12

accounts. These reclassifications had no impact on the NAV of the Fund. The reclassifications are a result of permanent differences between GAAP and tax accounting for such items as net operating losses that reduce distribution requirements. Adjustments are made to reflect the impact these items have on current and future distributions to shareholders. Therefore, the source of the Fund’s distributions may be shown in the accompanying Statement of Changes in Net Assets as from net investment income, from net realized gains on investments or from capital depending on the type of book and tax differences that exist. As of October 31, 2008, the Fund recorded reclassifications to increase undistributed net investment income by $470 and decrease accumulated net realized loss by $470.

d)

Capital Loss Carryforward - At October 31, 2008 (tax-year-end), the Fund had capital loss carryforwards for U.S. federal income tax purposes of approximately:

Year	Amount
2016	$	378
Total	$	378

e) Financial Accounting Standards Board Interpretation No. 48 – On July 13, 2006, the FASB released FASB Interpretation No. 48 “Accounting for Uncertainty in Income Taxes” (“FIN 48”). FIN 48 provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. The Fund adopted FIN 48 for fiscal years beginning after December 15, 2006. Management has evaluated the implications of FIN 48 for all open tax years (tax years ended October 31, 2006 – 2008) and has determined there is no impact to the Fund’s financial statements.

4. Expenses:

a)

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

The schedule below reflects the rates of compensation paid to HIFSCO for investment management services rendered during the six-month period ended April 30, 2009; the rates are accrued daily and paid monthly:

Average Daily Net Assets	Annual Fee
On first $500 million		0.15	%
On next $4.5 billion		0.10	%
On next $5 billion		0.08	%
Over $10 billion		0.07	%

b) Accounting Services Agreement – Pursuant to the Fund Accounting Agreement between Hartford Life Insurance Company (“HLIC”) and the Fund, HLIC provides accounting services to the Fund and receives monthly compensation on the Fund’s average net assets. The Fund’s accounting service fees are accrued daily and paid monthly.

Average Daily Net Assets	Annual Fee
On first $5 billion		0.012	%
Over $5 billion		0.010	%

13

The Hartford Target Retirement 2030 Fund

Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

c) Operating Expenses - Allocable expenses incurred by the Company are allocated to each Fund and allocated to classes within the Fund in proportion to the average daily net assets of the Fund and each class, except where allocation of certain expenses is more fairly made directly to the Fund or to specific classes within a Fund. During the six-month period ended April 30, 2009, HIFSCO has contractually limited the total operating expenses of this Fund, exclusive of taxes, interest expense, brokerage commissions, certain distribution expenses and extraordinary expenses as follows:

Class A	Class B	Class C	Class R3	Class R4	Class R5	Class Y
1.05%	1.80%	1.80%	1.20%	0.90%	0.85%	0.85%

	Voluntary limitations for total operating expenses include expenses incurred as the result of investing in other investment companies. Amounts incurred which exceed the above limits are deducted from expenses and are reported as waivers on the accompanying Statement of Operations.
d)	Distribution and Service Plan for Class A, B, C, R3 and R4 Shares - HIFSCO is the principal underwriter and distributor of the Fund. HIFSCO is engaged in distribution activities, which include marketing and distribution of shares through broker-dealers, financing distribution costs and maintaining financial books and records. For the six-month period ended April 30, 2009, HIFSCO received front-end load sales charges of $41 and contingent deferred sales charges of $1 from the Fund.
	The Fund has adopted Distribution and Service Plans in accordance with Rule 12b-1 of the Investment Company Act of 1940, as amended, to compensate the distributor (HIFSCO) for activities intended to result in the sale and distribution of Classes A, B, C, R3 and R4 shares and for providing services for shareholders. The Rule 12b-1 plan applicable to Class A shares of the Funds provides for payment of a Rule 12b-1 fee of up to 0.35% of average daily net assets; however, the Board of Directors has currently authorized 12b-1 payments of only up to 0.25%. Some or all of the fee may be used for shareholder servicing expenses with the remainder used for distribution expenses. Some or the entire Rule 12b-1 fee for Class B shares may be remitted to broker-dealers for distribution and/or shareholder account services. Under the Class B Plan, the Fund pays the distributor 1.00% of the average daily net assets of Class B shares that are outstanding for 8 years or less, 0.25% of which is a fee for services provided to existing shareholders with the remainder used for distribution expenses. After eight years, Class B shares convert to Class A shares. Upon conversion to Class A shares, the Class A plan described above will apply to those shares. Under the Class C Plan, the Fund pays the distributor 1.00% of the average daily net assets of Class C shares outstanding, 0.25% of which is intended as a fee for services provided to existing shareholders with the remainder used for distribution expenses. For Class C shares, some or the entire fee may be remitted to broker-dealers for distribution and/or shareholder account services. Class R3 shares have a distribution fee of 0.50% and Class R4 shares have a distribution fee of 0.25%. For Classes R3 and R4 shares, some or the entire fee may be remitted to broker dealers for distribution and/or shareholder account services. The Fund’s 12b-1 fees are accrued daily and paid monthly.
	For the six-month period ended April 30, 2009, total sales commissions paid to affiliated brokers/dealers of The Hartford for distributing the Fund’s shares were $5. These commissions are in turn paid to sales representatives of the broker/dealers.
e)	Other Related Party Transactions – Certain officers of the Fund are directors and/or officers of HIFSCO and/or The Hartford or its subsidiaries. For the six-month period ended April 30, 2009, a portion of the Fund’s chief compliance officer’s salary was paid by the Fund in an amount, which rounds to zero. Hartford Administrative Services Company (“HASCO”), an indirect wholly owned subsidiary of The Hartford, provides transfer agent services to the Fund. HASCO was compensated $12 for providing such services. These fees are accrued daily and paid monthly.

14

5.	Affiliate Holdings:
	As of April 30, 2009, affiliates of The Hartford had ownership of shares in the Fund as follows:

	Shares
Class Y		4

6.	Investment Transactions:
	For the six-month period ended April 30, 2009, the Fund’s aggregate purchases and sales of investment securities (excluding short-term investments) were as follows:

	Amount
Cost of Purchases Excluding U.S. Government Obligations	$	10,701
Sales Proceeds Excluding U.S. Government Obligations		3,864

7.	Capital Share Transactions:
	The following information is for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	For the Six-Month Period Ended April 30, 2009											For the Year Ended October 31, 2008
			Shares					Shares						Shares					Shares
			Issued for					Issued		Net Increase				Issued for					Issued		Net Increase
	Shares		Reinvested		Shares			from		(Decrease) of		Shares		Reinvested		Shares			from		(Decrease) of
	Sold		Dividends		Redeemed			Merger		Shares		Sold		Dividends		Redeemed			Merger		Shares
Class A
Shares		365		34		(326	)		—		73		722		67		(321	)		—		468
Amount	$	2,245	$	211	$	(1,921	)	$	—	$	535	$	6,668	$	677	$	(2,903	)	$	—	$	4,442
Class B
Shares		22		1		(9	)		—		14		52		2		(13	)		—		41
Amount	$	139	$	9	$	(59	)	$	—	$	89	$	482	$	22	$	(112	)	$	—	$	392
Class C
Shares		53		2		(48	)		—		7		94		2		(21	)		—		75
Amount	$	334	$	11	$	(295	)	$	—	$	50	$	883	$	19	$	(175	)	$	—	$	727
Class R3
Shares		29		3		(9	)		—		23		158		—		(1	)		—		157
Amount	$	173	$	22	$	(60	)	$	—	$	135	$	1,297	$	—	$	(12	)	$	—	$	1,285
Class R4
Shares		750		25		(32	)		—		743		1,267		4		(212	)		—		1,059
Amount	$	4,642	$	157	$	(200	)	$	—	$	4,599	$	11,848	$	41	$	(1,966	)	$	—	$	9,923
Class R5
Shares		252		9		(15	)		—		246		401		—		(30	)		—		371
Amount	$	1,542	$	59	$	(94	)	$	—	$	1,507	$	3,674	$	1	$	(264	)	$	—	$	3,411
Class Y
Shares		—		—		—			—		—		—		1		—			—		1
Amount	$	—	$	1	$	—		$	—	$	1	$	—	$	2	$	—		$	—	$	2

The following reflects the conversion of Class B Shares into Class A Shares (reflected as Class A Shares issued and Class B shares redeemed) for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	Shares		Dollars
For the Six-Month Period Ended April 30, 2009		1	$	9
For the Year Ended October 31, 2008		–	$	–

15

The Hartford Target Retirement 2030 Fund

Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

8.	Line of Credit:
	The Fund is one of several Hartford Funds that participate in a $500 million committed revolving line of credit facility. The facility is to be used for temporary or emergency purposes. Under the arrangement, the Fund is required to own securities having a market value in excess of 300% of the total bank borrowings. The interest rate on borrowings varies depending on the nature of the loan. The facility also requires a fee to be paid based on the amount of the commitment. During the six-month period ended April 30, 2009, the Fund did not have any borrowings under this facility.
9.	Proposed Reclassifications:
	At a meeting held on February 4, 2009, the Board of Directors of the Fund approved a transaction under which Class B shares and Class C shares of the Fund would become Class A shares of the Fund. Following the transaction, each shareholder owning Class B shares will own Class A shares equal to the aggregate value of their Class B shares and each shareholder owning Class C shares will own Class A shares equal to the aggregate value of their Class C shares (the “Reclassification”).
	Effective February 13, 2009, Class B shares and Class C shares of the Fund are no longer sold to new investors or existing shareholders (except through reinvested dividends) nor are they eligible for exchanges from other Hartford Mutual Funds.
	Shareholders of Class B and Class C shares are required to approve the Reclassifications. The Board of Directors of the Fund has called for a Special Joint Meeting of Shareholders of the Funds to be held on or about July 16, 2009, for the purpose of seeking the approval of the Reclassifications by the Class B and Class C shareholders of the Fund.
	If the Reclassifications are approved, sales charges will not be charged shareholders of Class B and Class C shares; contingent deferred sales charges for Class B and Class C shares will be waived; and distribution and service (12b-1) fees on shares classified as Class B and Class C shares before the Reclassifications will be reduced from 1.00% to 0.25% after the Reclassifications.

16

The Hartford Target Retirement 2030 Fund

Financial Highlights – (Unaudited)

	- Selected Per-Share Data - (a)																												- Ratios and Supplemental Data -
																																				Ratio of			Ratio of			Ratio of
																																				Expenses			Expenses			Expenses
																																				to Average			to Average			to Average
																																				Net Assets			Net Assets			Net Assets
																																				Before			After			After
								Net																												Waivers			Waivers			Waivers
								Realized																												and			and			and
								and Un-									Distrib-									Net										Reimburse-			Reimburse-			Reimburse-			Ratio of
			Net			Pay-		realized						Dividends			utions									Increase			Net					Net		ments and			ments and			ments and			Net Invest-			Port-
	Net Asset		Invest-			ments		Gain						from Net			from			Distri-						(Decrease)			Asset					Assets at		Including			Including			Excluding			ment			folio
	Value at		ment			from		(Loss) on			Total from			Invest-			Realized			butions			Total			in Net			Value at					End of		Expenses			Expenses			Expenses			Income to			Turn-
	Beginning		Income			(to)		Invest-			Investment			ment			Capital			from			Distri-			Asset			End of		Total			Period		not Subject			not Subject			not Subject			Average			over
Class	of Period		(Loss)			Affiliate		ments			Operations			Income			Gains			Capital			butions			Value			Period		Return(b)			(000’s)		to Cap(c)			to Cap(c)			to Cap(c)			Net Assets			Rate(d)
For the Six-Month Period Ended April 30, 2009 (Unaudited) (e)
A	$	6.80	$	0.09		$	—	$	(0.21	)	$	(0.12	)	$	(0.12	)	$	—		$	—		$	(0.12	)	$	(0.24	)	$	6.56		(1.59)	%(f)	$	12,711		0.88	%(g)		0.23	%(g)		0.23	%(g)		2.94	%(g)		14	%
B		6.78		0.08			—		(0.21	)		(0.13	)		(0.09	)		—			—			(0.09	)		(0.22	)		6.56		(1.84	) (f)		673		2.15	(g)		0.61	(g)		0.61	(g)		2.59	(g)		—
C		6.78		0.08			—		(0.23	)		(0.15	)		(0.08	)		—			—			(0.08	)		(0.23	)		6.55		(2.14	) (f)		778		1.92	(g)		0.84	(g)		0.84	(g)		2.52	(g)		—
R3		6.77		0.08			—		(0.20	)		(0.12	)		(0.14	)		—			—			(0.14	)		(0.26	)		6.51		(1.67	) (f)		1,178		1.20	(g)		0.38	(g)		0.38	(g)		2.77	(g)		—
R4		6.78		0.09			—		(0.21	)		(0.12	)		(0.12	)		—			—			(0.12	)		(0.24	)		6.54		(1.58	) (f)		12,176		0.88	(g)		0.08	(g)		0.08	(g)		2.89	(g)		—
R5		6.80		0.09			—		(0.21	)		(0.12	)		(0.13	)		—			—			(0.13	)		(0.25	)		6.55		(1.68	) (f)		4,051		0.58	(g)		0.03	(g)		0.03	(g)		3.04	(g)		—
Y		6.82		0.10			—		(0.21	)		(0.11	)		(0.14	)		—			—			(0.14	)		(0.25	)		6.57		(1.51	) (f)		24		0.49	(g)		0.03	(g)		0.03	(g)		3.21	(g)		—
For the Year Ended October 31, 2008 (e)
A		10.92		0.13			—		(3.78	)		(3.65	)		(0.37	)		(0.10	)		—			(0.47	)		(4.12	)		6.80		(34.83	)		12,679		0.86			0.51			0.51			1.43			35
B		10.90		0.01			—		(3.71	)		(3.70	)		(0.32	)		(0.10	)		—			(0.42	)		(4.12	)		6.78		(35.23	)		607		2.07			1.01			1.01			0.62			—
C		10.89		0.01			—		(3.70	)		(3.69	)		(0.32	)		(0.10	)		—			(0.42	)		(4.11	)		6.78		(35.17	)		761		1.86			1.22			1.22			0.12			—
R3		10.88		(0.01	)		—		(3.68	)		(3.69	)		(0.32	)		(0.10	)		—			(0.42	)		(4.11	)		6.77		(35.18	)		1,070		1.25			0.86			0.86			(0.10	)		—
R4		10.91		0.02			—		(3.67	)		(3.65	)		(0.38	)		(0.10	)		—			(0.48	)		(4.13	)		6.78		(34.87	)		7,578		0.89			0.54			0.54			0.17			—
R5		10.93		0.03			—		(3.68	)		(3.65	)		(0.38	)		(0.10	)		—			(0.48	)		(4.13	)		6.80		(34.82	)		2,530		0.58			0.22			0.22			0.33			—
Y		10.95		0.18			—		(3.82	)		(3.64	)		(0.39	)		(0.10	)		—			(0.49	)		(4.13	)		6.82		(34.69	)		25		0.54			0.19			0.19			1.89			—
For the Year Ended October 31, 2007
A		9.36		0.15			—		1.55			1.70			(0.13	)		(0.01	)		—			(0.14	)		1.56			10.92		18.34			15,260		1.45			0.54			0.54			0.75			23
B		9.36		0.08			—		1.55			1.63			(0.08	)		(0.01	)		—			(0.09	)		1.54			10.90		17.53			522		2.58			1.17			1.17			0.83			—
C		9.37		0.07			—		1.55			1.62			(0.09	)		(0.01	)		—			(0.10	)		1.52			10.89		17.44			405		2.48			1.26			1.26			0.21			—
R3(h)		9.53		(0.01	)		—		1.36			1.35			—			—			—			—			1.35			10.88		14.17	(f)		11		1.90	(g)		0.94	(g)		0.94	(g)		(0.06	) (g)		—
R4(i)		9.53		—			—		1.38			1.38			—			—			—			—			1.38			10.91		14.48	(f)		640		1.54	(g)		0.64	(g)		0.64	(g)		0.29	(g)		—
R5(j)		9.53		0.05			—		1.35			1.40			—			—			—			—			1.40			10.93		14.69	(f)		11		1.30	(g)		0.34	(g)		0.34	(g)		0.54	(g)		—
Y		9.36		0.19			—		1.54			1.73			(0.13	)		(0.01	)		—			(0.14	)		1.59			10.95		18.60			38		1.12			0.24			0.24			1.90			—
For the Year Ended October 31, 2006 (e)
A		9.75		0.03			—		0.87			0.90			(0.49	)		—			(0.80	)		(1.29	)		(0.39	)		9.36		10.00			1,857		14.20			0.53			0.53			0.37			19
B		9.74		(0.02	)		—		0.86			0.84			(0.42	)		—			(0.80	)		(1.22	)		(0.38	)		9.36		9.22			305		15.05			1.24			1.24			(0.28	)		—
C		9.74		—			—		0.85			0.85			(0.42	)		—			(0.80	)		(1.22	)		(0.37	)		9.37		9.35			81		15.18			1.10			1.10			—			—
Y		9.75		0.10			—		0.84			0.94			(0.53	)		—			(0.80	)		(1.33	)		(0.39	)		9.36		10.40			32		13.67			0.21			0.21			1.10			—
From (commencement of operations) September 30, 2005, through October 31, 2005
A(k)		10.00		0.01			—		(0.26	)		(0.25	)		—			—			—			—			(0.25	)		9.75		(2.50	) (f)		10		0.69	(g)		0.48	(g)		0.48	(g)		0.76	(g)		14
B(l)		10.00		—			—		(0.26	)		(0.26	)		—			—			—			—			(0.26	)		9.74		(2.60	) (f)		10		1.39	(g)		1.24	(g)		1.24	(g)		—	(g)		—
C(m)		10.00		—			—		(0.26	)		(0.26	)		—			—			—			—			(0.26	)		9.74		(2.60	) (f)		9		1.39	(g)		1.24	(g)		1.24	(g)		—	(g)		—
Y(n)		10.00		0.01			—		(0.26	)		(0.25	)		—			—			—			—			(0.25	)		9.75		(2.50	) (f)		10		0.34	(g)		0.19	(g)		0.19	(g)		1.05	(g)		—

(a)	Expense ratios do not include expenses of the underlying funds.
(b)	Information presented relates to a share outstanding throughout the indicated period.
(c)	Assumes initial investment at net asset value at the beginning of each period, reinvestment of all distributions, the complete redemption of the investment at net asset value at the end of each period and no sales charge. Total return would be reduced if sales charges were taken into account.
(d)	Ratios do not include fees paid indirectly (See Expenses in the accompanying Notes to Financial Statements).
(e)	Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between the classes of shares issued.
(f)	Per share amounts have been calculated using average shares outstanding method.
(g)	Not annualized.
(h)	Annualized.
(i)	Commenced operations on December 22, 2006.
(j)	Commenced operations on December 22, 2006.
(k)	Commenced operations on December 22, 2006.
(l)	Commenced operations on September 30, 2005.
(m)	Commenced operations on September 30, 2005.
(n)	Commenced operations on September 30, 2005.
(o)	Commenced operations on September 30, 2005.

17

The Hartford Target Retirement 2030 Fund

Directors and Officers (Unaudited)

The Board of Directors appoints officers who are responsible for the day-to-day operations of the Fund and who execute policies formulated by the Directors. Each director serves until his or her death, resignation, or retirement or until the next annual meeting of shareholders is held or until his or her successor is elected and qualifies.

Directors and officers who are employed by or who have a financial interest in The Hartford are considered “interested” persons of the Fund pursuant to the Investment Company Act of 1940, as amended. Each officer and three of the Fund’s directors, as noted in the chart below, are “interested” persons of the Fund. Each director serves as a director for The Hartford Mutual Funds, Inc., The Hartford Mutual Funds II, Inc., The Hartford Income Shares Fund, Inc., Hartford Series Fund, Inc., and Hartford HLS Series Fund II, Inc., which collectively consist of 100 funds. Correspondence may be sent to directors and officers c/o Hartford Mutual Funds, P.O. Box 2999, Hartford, Connecticut 06104-2999, except that correspondence to Ms. Fagely may be sent to 500 Bielenberg Drive, Woodbury, Minnesota 55125.

The table below sets forth, for each director and officer, his or her name, year of birth, current position with the Fund and date first elected or appointed to The Hartford Mutual Funds, Inc. (“MF”) and The Hartford Mutual Funds II, Inc. (“MF2”), principal occupation, and, for directors, other directorships held. The Fund’s statement of additional information contains further information on the directors and is available free of charge by calling 1-888-843-7824 or writing to Hartford Mutual Funds, P.O. Box 64387, St. Paul, MN 55164-0387.

Information on the aggregate remuneration paid to the directors of the Fund can be found in the Statement of Operations herein. The Fund pays a portion of the Chief Compliance Officer’s compensation, but does not pay salaries or compensation to any of its officers or directors who are employed by The Hartford.

Non-Interested Directors

Lynn S. Birdsong (1946) Director since 2003, Co-Chairman of the Investment Committee

Mr. Birdsong is a private investor. Since 1981, Mr. Birdsong has been a partner in Birdsong Company, an advertising specialty firm. Since 2003, Mr. Birdsong has been an independent director of The Japan Fund. From 2003 to March 2005, Mr. Birdsong was an independent director of the Atlantic Whitehall Funds. From 1979 to 2002, Mr. Birdsong was a managing director of Zurich Scudder Investments, an investment management firm. During his employment with Scudder, Mr. Birdsong was an interested director of The Japan Fund.

Robert M. Gavin, Jr. (1940) Director since 2002 (MF) and 1986 (MF2), Chairman of the Board since 2004

Dr. Gavin is an educational consultant. Prior to September 1, 2001, he was President of Cranbrook Education Community and prior to July 1996, he was President of Macalester College, St. Paul, Minnesota.

Duane E. Hill (1945) Director since 2001 (MF) and 2002 (MF2), Chairman of the Nominating Committee

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

Sandra S. Jaffee (1941) Director since 2005

Ms. Jaffee is Chairman and Chief Executive Officer of Fortent (formerly Searchspace Group), a leading provider of compliance/regulatory technology to financial institutions. Ms. Jaffee served as an Entrepreneur in Residence with Warburg Pincus, a private equity firm, from August 2004 to August 2005. From September 1995 to July 2004, Ms. Jaffee served as Executive Vice President at Citigroup, where she was President and Chief Executive Officer of Citibank’s Global Securities Services (1995-2003).

William P. Johnston (1944) Director since 2005, Chairman of the Compliance Committee

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

18

Phillip O. Peterson (1944) Director since 2002 (MF) and 2000 (MF2), Chairman of the Audit Committee

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

Lemma W. Senbet (1946) Director since 2005

Dr. Senbet is the William E. Mayer Chair Professor of Finance at the University of Maryland, Robert H. Smith School of Business. He was chair of the Finance Department during 1998-2006. Previously he was an endowed professor of finance at the University of Wisconsin-Madison. Also, he was director of the Fortis Funds from March 2000-July 2002. Dr. Senbet served the finance profession in various capacities, including as director of the American Finance Association and President of the Western Finance Association. In 2006, Dr. Senbet was inducted Fellow of Financial Management Association International for his career-long distinguished scholarship and professional service.

Interested Directors and Officers

Thomas M. Marra* (1958) Director since 2002

Mr. Marra has served as President and Chief Operating Officer of The Hartford Financial Services Group, Inc. (“The Hartford”) since 2007. Mr. Marra currently serves as Director of Hartford Life, Inc. (“HL, Inc.”). Mr. Marra served as Chief Operating Officer of Hartford Life Insurance Company, Inc. (“Hartford Life”) (2000-2008), as President of Hartford Life (2002-2008) and as Director of Hartford Life’s Investment Products Division from 1998 to 2000.

* On February 24, 2009, The Hartford and Mr. Marra determined to enter into a mutually agreed separation whereby Mr. Marra will retire, and his role as an executive officer and employee of The Hartford will terminate, effective July 3, 2009. Mr. Marra will resign his position as a Director of the Fund effective June 25, 2009.

Lowndes A. Smith (1939) Director since 2002, Co-Chairman of the Investment Committee

Mr. Smith served as Vice Chairman of The Hartford from February 1997 to January 2002, as President and Chief Executive Officer of Hartford Life, Inc. from February 1997 to January 2002, and as President and Chief Operating Officer of The Hartford Life Insurance Companies from January 1989 to January 2002. Mr. Smith serves as a Director of White Mountains Insurance Group, Ltd., One Beacon Insurance, Symetra Financial and as a Managing Director of Whittington Gray Associates.

John C. Walters* (1962) Director since 2008

Mr. Walters currently serves as Chief Executive Officer, President and Director of HL, Inc. Mr. Walters previously served as President of the U.S. Wealth Management Division of Hartford Life, Inc., as Co-Chief Operating Officer of Hartford Life Insurance Company (2007-2008) and as Executive Vice President and Director of its Investment Products Division (2000-2008). Mr. Walters also serves as Chairman of the Board, Chief Executive Officer, President and Director of Hartford Life Insurance Company and as Executive Vice President of The Hartford. In addition, Mr. Walters is Manager of HL Investment Advisors, LLC (“HL Advisors”).

* Mr. Walters previously served as President and Chief Executive Officer of the Fund (2007 – 2009).

Other Officers

Robert M. Arena, Jr. (1968) President and Chief Executive Officer since 2009 (served as Vice President of the Fund (2006 – 2009))

Mr. Arena serves as Executive Vice President of Hartford Life Insurance Company, (“Hartford Life”). Additionally, Mr. Arena is Director and Senior Vice President of Hartford Administrative Services Company, (“HASCO”), Manager, Chief Executive Officer and President of Hartford Investment Financial Services, LLC (“HIFSCO”) and HL Advisors. Prior to joining The Hartford in 2004, he was Senior Vice President in charge of Product Management for American Skandia/Prudential in the individual annuities division. Mr. Arena joined American Skandia in 1996.

Tamara L. Fagely (1958) Vice President, Treasurer and Controller since 2002 (MF) 1993 (MF2)

Ms. Fagely has been a Vice President of HASCO since 1998 and Chief Financial Officer since 2006. Currently Ms. Fagely is a Vice President of Hartford Life. She served as Assistant Vice President of Hartford Life from December 2001 through March 2005. In addition, Ms. Fagely is Controller and Chief Financial Officer of HIFSCO.

Brian Ferrell (1962) AML Compliance Officer since 2008

Mr. Ferrell has served as Assistant Vice President and AML Compliance Officer for The Hartford since 2006 and as AML Compliance Officer for HASCO and Hartford Investor Services Company, LLC (“HISC”) since 2008. Prior to joining The Hartford in 2006, Mr. Ferrell held various positions at the U.S. Department of the Treasury, (the “Treasury”), from 2001 to 2006 where he served as Chief Counsel for the Treasury’s Financial Crimes Enforcement Network, (“FinCEN”) from 2005 – 2006.

19

The Hartford Target Retirement 2030 Fund

Directors and Officers (Unaudited) – (continued)

Thomas D. Jones, III (1965) Vice President and Chief Compliance Officer since 2006

Mr. Jones serves as Chief Compliance Officer for the Hartford Mutual Funds and Vice President and Director of Securities Compliance for The Hartford. He is also Vice President of HIFSCO, HL Advisors, and Hartford Life Insurance Company. Mr. Jones joined The Hartford in 2006 from SEI Investments, where he served as Chief Compliance Officer for its mutual funds and investment advisers. Prior to joining SEI, Mr. Jones was First Vice President and Compliance Director for Merrill Lynch Investment Managers (Americas) (“MLIM”), where he worked from 1992-2004. At MLIM, Mr. Jones was responsible for the compliance oversight of various investment products, including mutual funds, wrap accounts, institutional accounts and alternative investments.

Edward P. Macdonald (1967) Vice President, Secretary and Chief Legal Officer since 2005

Mr. Macdonald serves as Assistant General Counsel and Assistant Vice President of The Hartford and Chief Legal Officer and Vice President of HIFSCO. He also serves as Vice President and Secretary of HASCO, Assistant Vice President of Hartford Life, and Chief Legal Officer, Secretary and Vice President of HL Advisors. Prior to joining The Hartford in 2005, Mr. Macdonald was Chief Counsel, Investment Management for Prudential Financial (formerly American Skandia Investment Services, Inc.). He joined Prudential in April 1999.

Vernon J. Meyer (1964) Vice President since 2006

Mr. Meyer serves as Senior Vice President of Hartford Life and as Director of its Investment Advisory Group in the Individual Markets Group segment. He also serves as Senior Vice President of HIFSCO and HL Advisors. Prior to joining The Hartford in 2004, Mr. Meyer was with MassMutual which he joined in 1987.

D. Keith Sloane (1960) Vice President since 2009

Mr. Sloane is a Senior Vice President of Hartford Life where he serves as Director of mutual fund product management for The Hartford’s mutual funds and 529 college savings businesses. Additionally, Mr. Sloane currently serves as Senior Vice President of HIFSCO, HL Advisors, and HASCO. Prior to joining The Hartford in 2007, Mr. Sloane was Director of product marketing and led the mutual fund business for Wachovia Securities (“Wachovia”) in their investment products group. Mr. Sloane joined Wachovia in 1995.

Jane Wolak (1961) Vice President since 2009

Ms. Wolak currently serves as Vice President of Hartford Life. Ms. Wolak joined Hartford Life as Vice President, Retail Product Services in May 2007. She is also Vice President of HASCO. Previously, Ms. Wolak was with Sun Life Financial where she held the position of Vice President, Service Center Operations from 2001 – 2007.

HOW TO OBTAIN A COPY OF THE FUND’S PROXY VOTING POLICIES AND VOTING RECORDS

A description of the policies and procedures that the Fund uses to determine how to vote proxies relating to portfolio securities and a record of how the Fund voted any proxies for the twelve-month period ended June 30, 2008 is available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov.

QUARTERLY PORTFOLIO HOLDINGS INFORMATION

The Fund files a complete schedule of portfolio holdings with the Commission for the first and third quarters of each fiscal year on Form N-Q. The Fund’s Forms are available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov. The Form N-Q may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330.

20

The Hartford Target Retirement 2030 Fund

Expense Example (Unaudited)

Your Fund’s Expenses

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments and contingent deferred sales charges (CDSC) (2) ongoing costs including management fees; distribution fees; and other fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the period of October 31, 2008 through April 30, 2009.

Actual Expenses

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

Hypothetical Example for Comparison Purposes

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

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads) and CDSC. Therefore, the second line 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 are equal to the Fund’s annualized expense ratios multiplied by average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

	Actual return						Hypothetical (5% return before expenses)
					Expenses paid						Expenses paid					Days in
					during the period						during the period					the		Days
	Beginning		Ending Account		October 31, 2008		Beginning		Ending Account		October 31,		Annualized			current		in the
	Account Value		Value		through		Account Value		Value		2008 through		expense			1/2		full
	October 31, 2008		April 30, 2009		April 30, 2009		October 31, 2008		April 30, 2009		April 30, 2009		ratio			year		year
Class A	$	1,000.00	$	984.14	$	1.13	$	1,000.00	$	1,023.65	$	1.15		0.23	%		181		365
Class B	$	1,000.00	$	981.62	$	2.99	$	1,000.00	$	1,021.76	$	3.05		0.61			181		365
Class C	$	1,000.00	$	978.63	$	4.12	$	1,000.00	$	1,020.62	$	4.20		0.84			181		365
Class R3	$	1,000.00	$	983.32	$	1.86	$	1,000.00	$	1,022.91	$	1.90		0.38			181		365
Class R4	$	1,000.00	$	984.16	$	0.39	$	1,000.00	$	1,024.39	$	0.40		0.08			181		365
Class R5	$	1,000.00	$	983.20	$	0.14	$	1,000.00	$	1,024.64	$	0.15		0.03			181		365
Class Y	$	1,000.00	$	984.94	$	0.14	$	1,000.00	$	1,024.64	$	0.15		0.03			181		365

21

The Hartford Target Retirement 2035 Fund

Table of Contents

Manager Discussions (Unaudited)	2
Financial Statements
Schedule of Investments at April 30, 2009 (Unaudited)	4
Statement of Assets and Liabilities at April 30, 2009 (Unaudited)	5
Statement of Operations for the Six Month Period Ended April 30, 2009 (Unaudited)	6
Statement of Changes in Net Assets for the Six Month Period Ended April 30, 2009 (Unaudited) and the Year Ended October 31, 2008	7
Notes to Financial Statements (Unaudited)	8
Financial Highlights (Unaudited)	15
Directors and Officers (Unaudited)	16
How to Obtain a Copy of the Fund’s Proxy Voting Policies and Proxy Voting Records (Unaudited)	18
Quarterly Portfolio Holdings Information (Unaudited)	18
Expense Example (Unaudited)	19

The Hartford Target Retirement 2035 Fund

(subadvised by Hartford Investment Management Company)

Performance Overview (1) 10/31/08 — 4/30/09
Growth of a $10,000 investment in Class R3

Barclays Capital U.S. Aggregate Bond Index is an unmanaged index and is composed of securities from the Barclays Capital Government/Credit Bond Index, Mortgage-Backed Securities Index, Asset-Backed Securities Index and Commercial Mortgage-Backed Securities Index.

S&P 500 Index is a market capitalization weighted price index composed of 500 widely held common stocks.

You cannot invest directly in an index.

Investment objective — Seeks to maximize total return and secondarily, to seek capital preservation.

Average Annual Total Returns(2) (as of 4/30/09)

	Inception	Since
	Date	Inception
Target Retirement 2035 R3	10/31/08	-2.42%
Target Retirement 2035 R4	10/31/08	-2.27%
Target Retirement 2035 R5	10/31/08	-2.26%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)	Growth of a $10,000 investment in Classes R4 and R5 shares will vary from results seen above due to differences in the expenses charged to these share classes.
(2)	Total returns presented above were calculated using the Fund’s net asset value available to shareholders for sale or redemption of Fund shares on April 30, 2009, which excludes investment transactions as of this date.

The value of shares will fluctuate so that, when redeemed, shares may be worth more or less than their original cost. The chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.

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

Portfolio Managers
Hugh Whelan, CFA	Edward C. Caputo, CFA
Managing Director	Vice President

How did the Fund perform?

The Class R3 shares of The Hartford Target Retirement 2035 Fund returned -2.42% for the six-month period ended April 30, 2009. In comparison, its benchmarks, the S&P 500 Index and the Barclays Capital U.S. Aggregate Bond Index, returned -8.53% and 7.74%, respectively, while the average return of the Lipper Mixed-Asset Target 2035 Funds category, a group of funds with investment strategies similar to those of the Fund, was -3.60%.

Why did the Fund perform this way?

The U.S. recession continued to deepen during the six-month period under review. Rising unemployment weighed on personal income and spending, while first quarter industrial production posted the steepest quarterly decline in more than 30 years. However, as the six-month period drew to a close, there were some signs that perhaps the rate of economic decline was beginning to slow. Financial conditions stabilized a bit, while the Federal Reserve’s purchases of long term Treasuries and mortgage-backed securities also provided strong support for the mortgage market, driving fixed mortgage rates lower. Generally, the Fund’s target asset allocation is set at approximately 87% equities and 13% fixed-income.

This environment initially created another difficult period for stocks, with the S&P 500 Index closing at a new low of 676.53 on March 9, down -29.30% since the start of the 6-month period. However, emergent signs of a slowdown in the economy’s free-fall helped lift the index through the remainder of the period, leaving it down -8.53% for the period. The index was in the black in March and April, gaining

2

8.76% and 9.57%, respectively, for a gain of 29.38% from March 9 through the end of the period. Declines were widespread across most equity asset classes during the six-month period. Among the eleven equity asset classes in our investment universe, emerging market stocks, EAFE small cap stocks, and U.S. midcap growth stock indices posted positive returns over the 6-month period. U.S. Real-Estate Investment Trusts (REITS) led the way lower during the period, while growth stocks continued to outperform value stocks across all market capitalization levels. International stocks outperformed U.S. stocks.

In fixed income, five and ten year Treasury yields increased during the 6-month period. Within the major sectors of the Barclays Capital U.S. Aggregate Bond Index, investment grade credit was the top performer at 11.47%, while commercial mortgage backed securities (CMBS) were the weakest performer at 1.32%. In the high yield asset classes, high yield bonds and emerging markets debt both outperformed the Barclays Capital U.S. Aggregate Bond Index, while floating rate notes did not. In addition, Treasury Inflation-Protection Securities (TIPS) were the best performing investment grade asset class in our investment universe at 9.46%.

There are two main drivers of the Fund’s performance: asset allocation among various asset classes and performance of the underlying funds. With regard to asset allocation, the Fund maintains relatively fixed exposures to the equity and fixed income markets. Therefore, we seek to add value by strategically allocating within the equity and fixed income investment sub asset classes. Our asset allocation decisions over the period improved the Fund’s performance.

Concerning the Fund’s equity exposure, favorable allocations to emerging market stocks and international small cap stocks helped offset unfavorable allocations to U.S. stocks. By design, the Fund also maintains exposure to various fixed income asset classes to deliver a well diversified portfolio solution. The Fund also benefited from its allocation to TIPS. Based on the risk preferences of the Fund’s mandate, the portfolio’s duration (a measure of a bond’s sensitivity to changes in interest rates) is targeted to be greater than the Barclays Capital U.S. Aggregate Bond Index. The Fund benefited from the longer duration positioning.

Beyond the asset allocation decision, we also seek to add value by selecting the underlying mutual funds that will most effectively deliver the target asset class exposures. We analyze all of the funds in our investment universe, looking through each fund’s objectives and stated benchmark to see what it actually holds and how it behaves. During the period, the Fund benefited from underlying fund selection.

During the period, the Fund continued to utilize Exchange-Traded Funds (ETFs) to obtain asset class exposures otherwise unavailable through The Hartford family of funds. Specifically, the Fund has target allocations to ETFs that provide U.S. real estate and international real estate exposure, as well as emerging market debt exposure.

Whenever possible, we rely on cash flows to execute our allocation changes. During the period, a hard rebalance (i.e. a fund rebalancing to move the underlying fund investments to their target allocation percentages) was executed to bring the fund allocations closer to their targets.

What is the outlook?

In fixed income, risk premiums (the additional compensation paid to investors to tolerate the increased level of risk in a given asset class relative to Treasuries) across most asset classes reversed course and began to contract as conditions improved and volatility declined. An onslaught of government policy, from fiscal stimulus to quantitative easing, was the primary catalyst and buyers of historically inexpensive corporate debt emerged as more market participants recognized relative value versus equities. Although risk premiums have come off their historical peak, spreads remain significantly wider (i.e. short and long term interest rates farther apart) than in prior recessions.

In equities the earnings picture is cloudy. First, earnings are falling at near record-breaking rates and all indications are that they will continue to fall. Second, the quality and reliability of the earnings reported is lower than historical standards as the gap between pro forma (“street”) earnings and GAAP (Generally Accepted Accounting Principles) earnings rose in the past several months. Third, there is little clarity in future earnings prospects as the disparity among analyst estimates for future earnings remains at elevated levels. Historically, such consensus building was a precondition to the final, sustained recovery from bear markets associated with recessions.

That said, we believe that investors are well served by adhering to a strategic, diversified portfolio and rebalancing accordingly. We construct these portfolios based upon the long-term properties of asset classes. We look at their long-term returns, volatilities, and correlations between each other and run optimizations to build an optimal portfolio.

Composition by Underlying Fund
as of April 30, 2009

	Percentage of Net
Fund Name	Assets
SPDR DJ Wilshire International Real Estate ETF		2.0	%
SPDR DJ Wilshire REIT ETF		1.6
The Hartford Capital Appreciation Fund, Class Y		18.0
The Hartford Capital Appreciation II Fund, Class Y		5.5
The Hartford Disciplined Equity Fund, Class Y		3.4
The Hartford Dividend and Growth Fund, Class Y		1.5
The Hartford Equity Income Fund, Class Y		3.1
The Hartford Fundamental Growth Fund, Class Y		3.9
The Hartford Global Growth Fund, Class Y		3.1
The Hartford Growth Fund, Class Y		3.8
The Hartford Growth Opportunities Fund, Class Y		2.2
The Hartford Inflation Plus Fund, Class Y		5.4
The Hartford International Opportunities Fund, Class Y		6.9
The Hartford International Small Company Fund, Class Y		4.5
The Hartford Select SmallCap Value Fund, Class Y		3.1
The Hartford Small Company Fund, Class Y		5.5
The Hartford Total Return Bond Fund, Class Y		7.0
The Hartford Value Fund, Class Y		18.5
Other Assets and Liabilities		1.0
Total		100.0	%

3

The Hartford Target Retirement 2035 Fund

Schedule of Investments

April 30, 2009 (Unaudited)

(000’s Omitted)

Shares or Principal Amount					Market Value ╪
AFFILIATED INVESTMENT COMPANIES - 95.4%
EQUITY FUNDS - 83.0%
	22	The Hartford Capital Appreciation Fund, Class Y			$	532
	18	The Hartford Capital Appreciation II Fund, Class Y•				163
	11	The Hartford Disciplined Equity Fund, Class Y				101
	3	The Hartford Dividend and Growth Fund, Class Y				45
	10	The Hartford Equity Income Fund, Class Y.				90
	15	The Hartford Fundamental Growth Fund, Class Y•				116
	8	The Hartford Global Growth Fund, Class Y•				90
	9	The Hartford Growth Fund, Class Y•				112
	4	The Hartford Growth Opportunities Fund, Class Y•				65
	20	The Hartford International Opportunities Fund, Class Y				205
	17	The Hartford International Small Company Fund, Class Y				132
	14	The Hartford Select SmallCap Value Fund, Class Y				92
	12	The Hartford Small Company Fund, Class Y•				163
	68	The Hartford Value Fund, Class Y				548
		Total equity funds (cost $2,512)			$	2,454
FIXED INCOME FUNDS - 12.4%
	15	The Hartford Inflation Plus Fund, Class Y			$	160
	21	The Hartford Total Return Bond Fund, Class Y				206
		Total fixed income funds (cost $349)			$	366
		Total investments in affiliated investment companies (cost $2,861)			$	2,820
EXCHANGE TRADED FUNDS - 3.6%
	2	SPDR DJ Wilshire International Real Estate ETF			$	57
	1	SPDR DJ Wilshire REIT ETF				48
		Total exchange traded funds (cost $124)			$	105
		Total long-term investments (cost $2,985)			$	2,925
		Total investments (cost $2,985)▲	99.0	%	$	2,925
		Other assets and liabilities	1.0	%		31
		Total net assets	100.0	%	$	2,956

Note:	Percentage of investments as shown is the ratio of the total market value to total net assets.
▲	At April 30, 2009, the cost of securities for federal income tax purposes was $2,985 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	49
Unrealized Depreciation		(109	)
Net Unrealized Depreciation	$	(60	)

•	Currently non-income producing.
╪	See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of securities.

FAS 157 Disclosure of Investment Valuation Hierarchy Levels

Assets:
Investment in securities — Level 1	$	2,925
Total	$	2,925

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

4

The Hartford Target Retirement 2035 Fund

Statement of Assets and Liabilities

April 30, 2009 (Unaudited)

(000’s Omitted)

Assets:
Investments in securities, at fair value (cost $124)	$	105
Investments in underlying affiliated funds, at fair value (cost $2,861)		2,820
Receivables:
Fund shares sold		—
Dividends and interest		1
Other assets		33
Total assets		2,959
Liabilities:
Payables:
Investment management fees		—
Distribution fees		—
Accrued expenses		3
Total liabilities		3
Net assets	$	2,956
Summary of Net Assets:
Capital stock and paid-in-capital		3,056
Accumulated undistributed net investment income		5
Accumulated net realized loss on investments		(45	)
Unrealized depreciation of investments		(60	)
Net assets	$	2,956
Shares authorized		150,000
Par value	$	0.001
Class R3: Net asset value per share	$	9.64
Shares outstanding		104
Net assets	$	1,000
Class R4: Net asset value per share	$	9.65
Shares outstanding		101
Net assets	$	978
Class R5: Net asset value per share	$	9.65
Shares outstanding		101
Net assets	$	978

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

5

The Hartford Target Retirement 2035 Fund

Statement of Operations

From (commencement of operations) October 31, 2008 through April 30, 2009 (Unaudited)

(000’s Omitted)

Investment Income:
Dividends	$	3
Dividends from underlying affiliated funds		39
Total investment income		42
Expenses:
Investment management fees		2
Transfer agent fees		—
Distribution fees
Class R3		2
Class R4		1
Custodian fees		—
Accounting services		—
Registration and filing fees		18
Board of Directors’ fees		—
Audit fees		3
Other expenses		3
Total expenses (before waivers)		29
Expense waivers		(27	)
Total waivers		(27	)
Total expenses, net		2
Net investment income		40
Net Realized Loss on Investments:
Net realized loss on investments in underlying affiliated funds		(45	)
Net realized gain on investments in securities		—
Net Realized Loss on Investments		(45	)
Net Changes in Unrealized Depreciation of Investments:
Net unrealized depreciation of investments		(60	)
Net Changes in Unrealized Depreciation of Investments		(60	)
Net Loss on Investments		(105	)
Net Decrease in Net Assets Resulting from Operations	$	(65	)

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

6

The Hartford Target Retirement 2035 Fund

Statement of Changes in Net Assets

(000’s Omitted)

	For the Period
	October 31, 2008**
	through
	April 30, 2009
Operations:
Net investment income	$	40
Net realized loss on investments		(45	)
Net unrealized depreciation of investments		(60	)
Net decrease in net assets resulting from operations		(65	)
Distributions to Shareholders:
From net investment income		(11	)
Class R3		(11	)
Class R4		(12	)
Class R5		(12	)
Total distributions		(35	)
Capital Share Transactions:
Class R3		1,032
Class R4		1,012
Class R5		1,012
Net increase from capital share transactions		3,056
Net increase in net assets		2,956
Net Assets:
Beginning of period		—
End of period	$	2,956
Accumulated undistributed (distribution in excess of) net investment income (loss)	$	5

^** Commencement of operations.

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

7

The Hartford Target Retirement 2035 Fund
Notes to Financial Statements
April 30, 2009 (Unaudited)
(000’s Omitted)

1.	Organization:
	The Hartford Mutual Funds, Inc. (“Company”) is an open-end management investment company comprised of fifty-two portfolios. Financial statements for The Hartford Target Retirement 2035 Fund (the “Fund”), a series of the Company, are included in this report.
	The Company is organized under the laws of the State of Maryland and is registered with the Securities and Exchange Commission (“SEC”) under the Investment Company Act of 1940, as amended (“1940 Act”). The Fund is a diversified open-end management investment company.
	Classes R3, R4, R5 shares, which are offered to employer-sponsored retirement plans, are sold without a sales charge. All classes of shares have identical voting, redemption, dividend, liquidation and other rights and the same terms and conditions, with the exceptions that each class may have different expenses, which may affect performance.
	The Fund, as a “Fund of Funds”, invests the majority of its assets in Class Y shares of other Hartford mutual funds (“Underlying Funds”) as well as certain exchange-traded funds (“ETFs”). The Fund seeks its investment goals through implementation of a strategic asset allocation recommendation provided by Hartford Investment Management Company (“Hartford Investment Management”), a wholly-owned indirect subsidiary of The Hartford Financial Services Group, Inc. (“The Hartford”).
2.	Significant Accounting Policies:
	The accounting policies of the affiliated underlying funds are outlined in the shareholder reports for such funds, available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov. The reports may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330. The affiliated Underlying Funds are not covered by this report.
	The following is a summary of significant accounting policies of the Fund, which are in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”).

a)	Security Transactions and Investment Income - Security transactions are recorded on the trade date (the date the order to buy or sell is executed). Security gains and losses are determined on the basis of identified cost.
	Dividend income is accrued as of the ex-dividend date. Income and capital gain distributions from Underlying Funds are recorded on the ex-dividend date.
b)	Security Valuation - Investments in open-end mutual funds are valued at the respective NAV of each open-end mutual fund on the valuation date.
	The Fund generally uses market prices in valuing portfolio securities. If market prices are not readily available or are deemed unreliable, the Fund will use the fair value of the security as determined in good faith under policies and procedures established by and under the supervision of the Fund’s Board of Directors. Market prices may be deemed unreliable, for example, if a security is thinly traded or if an event has occurred after the close of the security’s primary markets, but before the close of the New York Stock Exchange (the “Exchange”) (normally 4:00 p.m. Eastern Time, referred to as the “Valuation Time”) that is expected to affect the value of the portfolio security. The circumstances in which the Fund may use fair value pricing include, among others: (i) the occurrence of events that are significant to a particular issuer, such as mergers, restructuring or defaults; (ii) the occurrence of events that are significant to an entire market, such as natural disasters in a particular region or governmental actions; (iii) trading restrictions on securities; (iv) thinly traded securities and (v) market events such as trading halts and early market closings. In addition, with respect to

8

	the valuation of stocks primarily traded on foreign markets, the Fund uses a fair value pricing service approved by the Fund’s Board of Directors, which employs quantitative models that evaluate changes in the value of foreign market proxies (e.g., futures contracts, ADR’s, exchange traded funds (“ETF’s”)) after the close of the foreign markets but before the close of the Exchange. Securities that are primarily traded on foreign markets may trade on days that are not business days of the Fund. The value of the foreign securities in which the Fund invests may change on days when a shareholder will not be able to purchase or redeem shares of the Fund. Fair value pricing is subjective in nature and the use of fair value pricing by the Fund may cause the NAV of its shares to differ significantly from the NAV that would have been calculated using market prices at the close of the exchange on which a portfolio security is primarily traded but before the close of the Exchange. There can be no assurance that the Fund could obtain the fair value assigned to a security if the Fund were to sell the security at approximately the time at which the Fund determines its NAV.
��
	Debt securities (other than short-term obligations and senior floating rate interests) held by the Fund are valued on the basis of valuations furnished by an independent pricing service which determines valuations for normal institutional size trading units of debt securities. Senior floating rate interests generally trade in over-the-counter markets and are priced through an independent pricing service utilizing independent market quotations from loan dealers or financial institutions. Securities for which prices are not available from an independent pricing service are valued using market quotations obtained from one or more dealers that make markets in the securities in accordance with procedures established by the Fund’s Board of Directors. Generally, the Fund may use fair valuation in regard to debt securities when the Fund holds defaulted or distressed securities or securities in a company in which a reorganization is pending. Short-term investments with a maturity of more than 60 days when purchased are valued based on market quotations until the remaining days to maturity become less than 61 days. Investments that mature in 60 days or less are valued at amortized cost, which approximates market value.
	Exchange traded equity securities shall be valued at the last reported sale price on the exchange or market on which the security is primarily traded (the “Primary Market”) at the Valuation Time. If the security did not trade on the Primary Market, it may be valued at the Valuation Time at the last reported sale price on another exchange where it trades. The value of an equity security not traded on any exchange but traded on the Nasdaq Stock Market, Inc. (“Nasdaq”) or another over-the-counter market shall be valued at the last reported sale price or official closing price on the exchange or market on which the security is traded as of the Valuation Time. If it is not possible to determine the last reported sale price or official closing price on the relevant exchange or market at the Valuation Time, the value of the security shall be taken to be the most recent mean between bid and asked prices on such exchange or market at the Valuation Time.
	Securities of foreign issuers and non-dollar securities are translated from the local currency into U.S. dollars using prevailing exchange rates.
	Options contracts on securities, currencies, indexes, futures contracts, commodities and other instruments shall be valued at their most recent sales price at the Valuation Time on the Primary Market on which the instrument is primarily traded. If the instrument did not trade on the Primary Market, it may be valued at the most recent sales price at the Valuation Time on another exchange or market where it did trade.
	Futures contracts are valued at the most recent settlement price reported by an exchange on which, over time, they are traded most extensively. If a settlement price is not available, futures contracts will be valued at the most recent trade price as of the Valuation Time. If there were no trades, the contract shall be valued at the mean of the closing bid/ask prices as of the Valuation Time.
	Financial instruments for which prices are not available from an independent pricing service are valued using market quotations obtained from one or more dealers that make markets in securities in accordance with procedures established by the Fund’s Board of Directors.
	A forward currency contract shall be valued based on the price of the underlying currency at the prevailing interpolated exchange rate, which is a combination of the spot currency rate and the forward currency rate. Spot currency rates and

9

The Hartford Target Retirement 2035 Fund
Notes to Financial Statements -(continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

	forward currency rates are obtained from an independent pricing service on a daily basis not more than one hour before the Valuation Time.
	Swaps are valued based on custom valuations furnished by an independent pricing service. Swaps for which prices are not available from an independent pricing service are valued in accordance with procedures established by the Fund’s Board of Directors.
	Other derivative or contractual type instruments shall be valued using market prices if such instruments trade on an exchange or market. If such instruments do not trade on an exchange or market, such instruments shall be valued at a price at which the counterparty to such contract would repurchase the instrument. In the event that the counterparty cannot provide a price, such valuation may be determined in accordance with procedures established by the Fund’s Board of Directors.
c)	Indexed Securities - The Fund may invest in indexed securities whose values are linked to changes in interest rates, indices, or other underlying instruments. The Fund uses these securities to increase or decrease its exposure to different underlying instruments and to gain exposure to markets that might be difficult to invest in using conventional securities. Indexed securities may be more volatile than their underlying instruments, but any loss is limited to the amount of the original investment and there may be a limit to the potential appreciation of the investment. The Fund had investments in indexed securities as of April 30, 2009, as shown on the Schedule of Investments under Exchange Traded Funds.
d)	Fund Share Valuation and Dividend Distributions to Shareholders — Orders for the Fund’s shares are executed in accordance with the investment instructions of the shareholders. The NAV of the Fund’s shares is determined as of the close of each business day of the Exchange. The NAV is determined separately for each class of the Fund by dividing the Fund’s net assets attributable to that class by the number of shares of the class outstanding. Orders for the purchase of the Fund’s shares prior to the close of the Exchange on any day on which the Exchange is open for business are priced at the NAV determined as of the close of the Exchange. Orders after the close of the Exchange, or on a day on which the Exchange and/or the Fund is not open for business, are priced at the next determined NAV.
	The Fund intends to distribute substantially all of its net investment income and net realized capital gains to shareholders no less frequently than once a year. Normally, dividends from net investment income of the Fund are declared and paid annually. Dividends are paid on shares beginning on the business day after the day when the funds used to purchase the shares are collected by the transfer agent for the Fund. Long-term capital gains distributions received from underlying funds are distributed at least annually, when required. Unless shareholders specify otherwise, all dividends and distributions will be automatically reinvested in additional full or fractional shares of the Fund.
	Distributions from net investment income, realized capital gains and capital are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP with respect to character and timing. These differences include but are not limited to foreign currency gains and losses, losses deferred due to wash sales adjustments, adjustments related to Passive Foreign Investment Companies and certain derivatives, and excise tax regulations. Permanent book and federal income tax basis differences relating to shareholder distributions will result in reclassifications to certain of the Fund’s capital accounts (see Federal Income Taxes: Reclassification of Capital Accounts footnote).

e)

Use of Estimates — The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and the reported amounts of income and expenses during the period. Operating results in the future could vary from the amounts derived from management’s estimates.

f)

Financial Accounting Standards Board Financial Accounting Standards No. 157 - Effective November 1, 2008, the Fund adopted Financial Accounting Standards Board (“FASB”) Statement of Financial Accounting Standards No. 157, “Fair Value Measurements” (“FAS 157”). This standard clarifies the definition of fair value for financial reporting,

10

establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements. Fair value is defined under FAS 157 as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Under FAS 157, a fair value measurement should reflect all of the assumptions that market participants would use in pricing the asset or liability, including assumptions about the risk inherent in a particular valuation technique, the effect of a restriction on the sale or use of an asset, and the risk of nonperformance.

Various inputs are used in determining the value of the Fund’s investment. These inputs are summarized, per FAS 157, into three broad hierarchy levels. This hierarchy is based on whether the valuation inputs are observable or unobservable. These levels are:

• Level 1 — Quoted prices in active markets for identical securities. Level 1 includes exchange-traded instruments such as domestic equities, some foreign equities, options, futures, mutual funds, ETF’s, and rights and warrants.

• Level 2 — Observable inputs other than Level 1 prices, such as quoted prices for similar securities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the security. Level 2 includes debt securities that are traded less frequently than exchange-traded instruments and that are valued using third party pricing services and foreign equities, whose value is determined using a multi-factor regression model with inputs that are observable in the market; and money market instruments, which are carried at amortized cost.

• Level 3 — Significant unobservable inputs that are supported by little or no market activity. Level 3 includes financial instruments whose values are determined using broker quotes and require significant management judgment or estimation. This category includes broker quoted securities, long dated OTC options and securities where trading has been halted or there are certain restrictions on trading. While these securities are priced using unobservable inputs, the valuation of these securities reflects the best available data and management believes the prices are a good representation of exit price.

	Individual securities within any of the above mentioned asset classes may be assigned a different hierarchical level than those presented above, as individual circumstances dictate.
	FAS 157 also requires that a roll forward reconciliation be shown for all Level 3 securities from the beginning of the reporting period to the end of the reporting period. Part of this reconciliation includes transfers in and/or out of Level 3. For purposes of this reconciliation, transfers in are shown at the end of period fair value and transfers out are shown at the beginning of period fair value. During the six-month period ended April 30, 2009, the Fund held no Level 3 securities.
	FASB Staff Position No. 157-4 - In April 2009, FASB released FASB Staff Position No. 157-4, “Determining Fair Value When the Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly” (��FSP FAS 157-4”). FSP FAS 157-4 provides additional guidance on determining whether a market for a financial asset is not active and a transaction is not distressed when measuring fair value under FAS 157. The FSP also requires additional disclosure detail on debt and equity securities by major investment categories. FSP FAS 157-4 is effective for interim and annual periods ending after June 15, 2009. At this time, management is evaluating the implications of FSP FAS 157-4 and does not believe it will impact valuation but will require additional disclosure. This additional disclosure has not yet been implemented.
g)	Financial Accounting Standards Board Financial Accounting Standards No. 161 - In March 2008, the FASB released Statement of Financial Accounting Standards No. 161, “Disclosures about Derivative Instruments and Hedging Activities” (“FAS 161”). FAS 161 requires companies to disclose information detailing the objectives and strategies for using derivative instruments, the level of derivative activity entered into by the company and any credit risk-related contingent features of the agreements. The application of FAS 161 is required for fiscal years and interim periods beginning after November 15, 2008. At this time, management is evaluating the implications of FAS 161 and has not yet implemented the new disclosure standard.

11

The Hartford Target Retirement 2035 Fund
Notes to Financial Statements - (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

h) Indemnifications: Under the Company’s organizational documents, the Company shall indemnify its officers and directors to the full extent required or permitted under Maryland General Corporation Law and the federal securities law. In addition, the Company, on behalf of the Fund, may enter into contracts that contain a variety of indemnifications. The Company’s maximum exposure under these arrangements is unknown. However, the Company has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote.

3. Federal Income Taxes:

a)	Federal Income Taxes - For federal income tax purposes, the Fund intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code (“IRC”) by distributing substantially all of its taxable net investment income and net realized capital gains to its shareholders and otherwise complying with the requirements of regulated investment companies. The Fund has distributed substantially all of its income and capital gains in prior years and the Fund intends to distribute substantially all of its income and gains during the calendar year ending December 31, 2009. Accordingly, no provision for federal income or excise taxes has been made in the accompanying financial statements. Distributions from short-term capital gains are treated as ordinary income distributions for federal income tax purposes.
b)	Reclassification of Capital Accounts - In accordance with American Institute of Certified Public Accountants (AICPA) Statement of Position 93-2, Determination, Disclosure, and Financial Statement Presentation of Income, Capital Gain, and Return of Capital Distributions by Investment Companies, the Fund may record reclassifications in its capital accounts. These reclassifications have no impact on the NAV of the Fund. The reclassifications are a result of permanent differences between GAAP and tax accounting for such items as net operating losses that reduce distribution requirements. Adjustments are made to reflect the impact these items have on current and future distributions to shareholders. Therefore, the source of the Fund’s distributions may be shown in the accompanying Statement of Changes in Net Assets as from net investment income, from net realized gains on investments or from capital depending on the type of book and tax differences that exist. Reclassifications are made at fiscal year end and therefore, no reclassifications were made during the six-month period ended April 30, 2009.
c)	Financial Accounting Standards Board Interpretation No. 48 - On July 13, 2006, the FASB released FASB Interpretation No. 48 “Accounting for Uncertainty in Income Taxes” (“FIN 48”). FIN 48 provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. The Fund has adopted FIN 48. Management has evaluated the implications of FIN 48 for the Fund and has determined there is no impact to the Fund’s financial statements.

4. Expenses:

a)

Investment Management Agreements - Hartford Investment Financial Services, LLC (“HIFSCO”) serves as investment manager to the Fund pursuant to an Investment Management Agreement with The Hartford Mutual Funds, Inc. As investment manager, HIFSCO has overall investment supervisory responsibility for the Fund. In addition, HIFSCO provides administrative personnel, services, equipment, facilities and office space for proper operation of the Fund. HIFSCO has contracted with Hartford Investment Management for the provision of day-to-day investment management services to the Fund in accordance with the Fund’s investment objective and policies. The Fund pays a fee to HIFSCO, a portion of which may be used to compensate Hartford Investment Management.

The schedule below reflects the rates of compensation paid to HIFSCO for investment management services rendered during the six-month period ended April 30, 2009; the rates are accrued daily and paid monthly:

Average Daily Net Assets	Annual Fee
On first $500 million		0.15	%
On next $4.5 billion		0.10	%
On next $5 billion		0.08	%
Over $10 billion		0.07	%

12

b) Accounting Services Agreement — Pursuant to the Fund Accounting Agreement between Hartford Life Insurance Company (“HLIC”) and the Fund, HLIC provides accounting services to the Fund and receives monthly compensation on the Fund’s average net assets. The Fund’s accounting service fees are accrued daily and paid monthly.

Average Daily Net Assets	Annual Fee
On first $5 billion		0.012	%
Over $5 billion		0.010	%

c) Operating Expenses - Allocable expenses incurred by the Company are allocated to each Fund and allocated to classes within the Fund in proportion to the average daily net assets of the Fund and each class, except where allocation of certain expenses is more fairly made directly to the Fund or to specific classes within a Fund. During the six-month period ended April 30, 2009, HIFSCO has contractually limited the total operating expenses of this Fund, exclusive of taxes, interest expense, brokerage commissions, certain distribution expenses and extraordinary expenses as follows:

Class R3	Class R4	Class R5
1.20%	0.90%	0.85%

	Voluntary limitations for total operating expenses include expenses incurred as the result of investing in other investment companies. Amounts incurred which exceed the above limits are deducted from expenses and are reported as waivers on the accompanying Statement of Operations.
d)	Distribution and Service Plan for Class R3 and R4 Shares - HIFSCO is the principal underwriter and distributor of the Fund. HIFSCO is engaged in distribution activities, which include marketing and distribution of shares through broker-dealers, financing distribution costs and maintaining financial books and records.
	The Fund has adopted Distribution and Service Plans in accordance with Rule 12b-1 of the Investment Company Act of 1940, as amended, to compensate the distributor (HIFSCO) for activities intended to result in the sale and distribution of Classes R3 and R4 shares and for providing services for shareholders. The Rule 12b-1 plan applicable to Class R3 shares provides for a distribution fee of 0.50%. The Rule 12b-1 plan applicable to Class R4 shares provides for a distribution fee of 0.25%. For Classes R3 and R4 shares, some or the entire fee may be remitted to broker dealers for distribution and/or shareholder account services. The Fund’s 12b-1 fees are accrued daily and paid monthly.
	For the six-month period ended April 30, 2009, total sales commissions paid to affiliated brokers/dealers of The Hartford for distributing the Fund’s shares rounds to zero. These commissions are in turn paid to sales representatives of the broker/dealers.
e)	Other Related Party Transactions - Certain officers of the Fund are directors and/or officers of HIFSCO and/or The Hartford or its subsidiaries. For the six-month period ended April 30, 2009, a portion of the Fund’s chief compliance officer’s salary was paid by the Fund in an amount, which rounds to zero. Hartford Administrative Services Company (“HASCO”), an indirect wholly owned subsidiary of The Hartford, provides transfer agent services to the Fund. HASCO was compensated an amount, which rounds to zero, for providing such services. These fees are accrued daily and paid monthly.

5.	Affiliate Holdings:
	As of April 30, 2009, affiliates of The Hartford had ownership of shares in the Fund as follows:

	Shares
Class R3		101
Class R4		101
Class R5		101

13

The Hartford Target Retirement 2035 Fund
Notes to Financial Statements -(continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

6.	Investment Transactions:
	For the six-month period ended April 30, 2009, the Fund’s aggregate purchases and sales of investment securities (excluding short-term investments) were as follows:

	Amount
Cost of Purchases Excluding U.S. Government Obligations	$	3,397
Sales Proceeds Excluding U.S. Government Obligations		367

7.	Capital Share Transactions:
	The following information is for the six-month period ended April 30, 2009.

	For the Six-Month Period Ended 4/30/2009
			Shares				Shares
			Issued for				Issued		Net Increase
	Shares		Reinvested		Shares		from		(Decrease) of
	Sold		Dividends		Redeemed		Merger		Shares
Class R3
Shares		103		1		—		—		104
Amount	$	1,021	$	11	$	—	$	—	$	1,032
Class R4
Shares		100		1		—		—		101
Amount	$	1,000	$	12	$	—	$	—	$	1,012
Class R5
Shares		100		1		—		—		101
Amount	$	1,000	$	12	$	—	$	—	$	1,012

8.

Line of Credit:

The Fund is one of several Hartford Funds that participate in a $500 million committed revolving line of credit facility. The facility is to be used for temporary or emergency purposes. Under the arrangement, the Fund is required to own securities having a market value in excess of 300% of the total bank borrowings. The interest rate on borrowings varies depending on the nature of the loan. The facility also requires a fee to be paid based on the amount of the commitment. During the six-month period ended April 30, 2009, the Fund did not have any borrowings under this facility.

14

The Hartford Target Retirement 2035 Fund

Financial Highlights — (Unaudited)

— Selected Per-Share Data — (a)

— Ratios and Supplemental Data —

Ratio of

Ratio of

Ratio of

Expenses

Expenses

Expenses

to Average

to Average

to Average

Net Assets

Net Assets

Net Assets

Before

After

After

Net

Waivers

Waivers

Waivers

Realized

and

and

and

Ratio of

and Un-

Distrib-

Net

Reimburse-

Reimburse-

Reimburse-

Net

Net

Pay-

realized

Dividends

utions

Increase

Net

ments and

ments and

ments and

Invest-

Port-

Net Asset

Invest-

ments

Gain

from Net

from

Distri-

(Decrease)

Asset

Net Assets

Including

Including

Excluding

ment

folio

Value at

ment

from

(Loss) on

Total from

Invest-

Realized

butions

Total

in Net

Value at

at End of

Expenses

Expenses

Expenses

Income to

Turn-

Beginning

Income

(to)

Invest-

Investment

ment

Capital

from

Distri-

Asset

End of

Total

Period

not Subject

not Subject

not Subject

Average

over

Class

of Period

(Loss)

Affiliate

ments

Operations

Income

Gains

Capital

butions

Value

Period

Return(b)

(000’s)

to Cap(c)

to Cap(c)

to Cap(c)

Net Assets

Rate(d)

From (commencement of operations) October 31, 2008, through April 30, 2009 (Unaudited)

R3

$

10.00

$

0.12

$

—

$

(0.37

)

$

(0.25

)

$

(0.11

)

$

—

$

—

$

(0.11

)

$

(0.36

)

$

9.64

(2.42)

%(e)

$

1,000

2.48

%(f)

0.36

%(f)

0.36

%(f)

2.72

%(f)

16

%

R4

10.00

0.14

—

(0.37

)

(0.23

)

(0.12

)

—

—

(0.12

)

(0.35

)

9.65

(2.27

) (e)

978

2.18

(f)

0.06

(f)

0.06

(f)

3.03

(f)

—

R5

10.00

0.14

—

(0.37

)

(0.23

)

(0.12

)

—

—

(0.12

)

(0.35

)

9.65

(2.26

) (e)

978

1.88

(f)

0.01

(f)

0.01

(f)

3.08

(f)

—

(a)	Information presented relates to a share outstanding throughout the indicated period.
(b)	Assumes initial investment at net asset value at the beginning of each period, reinvestment of all distributions, the complete redemption of the investment at net asset value at the end of each period and no sales charge. Total return would be reduced if sales charges were taken into account.
(c)	Expense ratios do not include expenses of the underlying funds.
(d)	Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between the classes of shares issued.
(e)	Not annualized.
(f)	Annualized.

15

The Hartford Target Retirement 2035 Fund
Directors and Officers (Unaudited)

The Board of Directors appoints officers who are responsible for the day-to-day operations of the Fund and who execute policies formulated by the Directors. Each director serves until his or her death, resignation, or retirement or until the next annual meeting of shareholders is held or until his or her successor is elected and qualifies.

Directors and officers who are employed by or who have a financial interest in The Hartford are considered “interested” persons of the Fund pursuant to the Investment Company Act of 1940, as amended. Each officer and three of the Fund’s directors, as noted in the chart below, are “interested” persons of the Fund. Each director serves as a director for The Hartford Mutual Funds, Inc., The Hartford Mutual Funds II, Inc., The Hartford Income Shares Fund, Inc., Hartford Series Fund, Inc., and Hartford HLS Series Fund II, Inc., which collectively consist of 100 funds. Correspondence may be sent to directors and officers c/o Hartford Mutual Funds, P.O. Box 2999, Hartford, Connecticut 06104-2999, except that correspondence to Ms. Fagely may be sent to 500 Bielenberg Drive, Woodbury, Minnesota 55125.

The table below sets forth, for each director and officer, his or her name, year of birth, current position with the Fund and date first elected or appointed to The Hartford Mutual Funds, Inc. (“MF”) and The Hartford Mutual Funds II, Inc. (“MF2”), principal occupation, and, for directors, other directorships held. The Fund’s statement of additional information contains further information on the directors and is available free of charge by calling 1-888-843-7824 or writing to Hartford Mutual Funds, P.O. Box 64387, St. Paul, MN 55164-0387.

Information on the aggregate remuneration paid to the directors of the Fund can be found in the Statement of Operations herein. The Fund pays a portion of the Chief Compliance Officer’s compensation, but does not pay salaries or compensation to any of its officers or directors who are employed by The Hartford.

Non-Interested Directors

Lynn S. Birdsong (1946) Director since 2003, Co-Chairman of the Investment Committee

Mr. Birdsong is a private investor. Since 1981, Mr. Birdsong has been a partner in Birdsong Company, an advertising specialty firm. Since 2003, Mr. Birdsong has been an independent director of The Japan Fund. From 2003 to March 2005, Mr. Birdsong was an independent director of the Atlantic Whitehall Funds. From 1979 to 2002, Mr. Birdsong was a managing director of Zurich Scudder Investments, an investment management firm. During his employment with Scudder, Mr. Birdsong was an interested director of The Japan Fund.

Robert M. Gavin, Jr. (1940) Director since 2002 (MF) and 1986 (MF2), Chairman of the Board since 2004

Dr. Gavin is an educational consultant. Prior to September 1, 2001, he was President of Cranbrook Education Community and prior to July 1996, he was President of Macalester College, St. Paul, Minnesota.

Duane E. Hill (1945) Director since 2001 (MF) and 2002 (MF2), Chairman of the Nominating Committee

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

Sandra S. Jaffee (1941) Director since 2005

Ms. Jaffee is Chairman and Chief Executive Officer of Fortent (formerly Searchspace Group), a leading provider of compliance/regulatory technology to financial institutions. Ms. Jaffee served as an Entrepreneur in Residence with Warburg Pincus, a private equity firm, from August 2004 to August 2005. From September 1995 to July 2004, Ms. Jaffee served as Executive Vice President at Citigroup, where she was President and Chief Executive Officer of Citibank’s Global Securities Services (1995-2003).

William P. Johnston (1944) Director since 2005, Chairman of the Compliance Committee

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

16

Phillip O. Peterson (1944) Director since 2002 (MF) and 2000 (MF2), Chairman of the Audit Committee

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

Lemma W. Senbet (1946) Director since 2005

Dr. Senbet is the William E. Mayer Chair Professor of Finance at the University of Maryland, Robert H. Smith School of Business. He was chair of the Finance Department during 1998-2006. Previously he was an endowed professor of finance at the University of Wisconsin-Madison. Also, he was director of the Fortis Funds from March 2000-July 2002. Dr. Senbet served the finance profession in various capacities, including as director of the American Finance Association and President of the Western Finance Association. In 2006, Dr. Senbet was inducted Fellow of Financial Management Association International for his career-long distinguished scholarship and professional service.

Interested Directors and Officers

Thomas M. Marra* (1958) Director since 2002

Mr. Marra has served as President and Chief Operating Officer of The Hartford Financial Services Group, Inc. (“The Hartford”) since 2007. Mr. Marra currently serves as Director of Hartford Life, Inc. (“HL, Inc.”). Mr. Marra served as Chief Operating Officer of Hartford Life Insurance Company, Inc. (“Hartford Life”) (2000-2008), as President of Hartford Life (2002-2008) and as Director of Hartford Life’s Investment Products Division from 1998 to 2000.

* On February 24, 2009, The Hartford and Mr. Marra determined to enter into a mutually agreed separation whereby Mr. Marra will retire, and his role as an executive officer and employee of The Hartford will terminate, effective July 3, 2009. Mr. Marra will resign his position as a Director of the Fund effective June 25, 2009.

Lowndes A. Smith (1939) Director since 2002, Co-Chairman of the Investment Committee

Mr. Smith served as Vice Chairman of The Hartford from February 1997 to January 2002, as President and Chief Executive Officer of Hartford Life, Inc. from February 1997 to January 2002, and as President and Chief Operating Officer of The Hartford Life Insurance Companies from January 1989 to January 2002. Mr. Smith serves as a Director of White Mountains Insurance Group, Ltd., One Beacon Insurance, Symetra Financial and as a Managing Director of Whittington Gray Associates.

John C. Walters* (1962) Director since 2008

Mr. Walters currently serves as Chief Executive Officer, President and Director of HL, Inc. Mr. Walters previously served as President of the U.S. Wealth Management Division of Hartford Life, Inc., as Co-Chief Operating Officer of Hartford Life Insurance Company (2007-2008) and as Executive Vice President and Director of its Investment Products Division (2000-2008). Mr. Walters also serves as Chairman of the Board, Chief Executive Officer, President and Director of Hartford Life Insurance Company and as Executive Vice President of The Hartford. In addition, Mr. Walters is Manager of HL Investment Advisors, LLC (“HL Advisors”).

* Mr. Walters previously served as President and Chief Executive Officer of the Fund (2007 — 2009).

Other Officers

Robert M. Arena, Jr. (1968) President and Chief Executive Officer since 2009 (served as Vice President of the Fund (2006 — 2009))

Mr. Arena serves as Executive Vice President of Hartford Life Insurance Company, (“Hartford Life”). Additionally, Mr. Arena is Director and Senior Vice President of Hartford Administrative Services Company, (“HASCO”), Manager, Chief Executive Officer and President of Hartford Investment Financial Services, LLC (“HIFSCO”) and HL Advisors. Prior to joining The Hartford in 2004, he was Senior Vice President in charge of Product Management for American Skandia/Prudential in the individual annuities division. Mr. Arena joined American Skandia in 1996.

Tamara L. Fagely (1958) Vice President, Treasurer and Controller since 2002 (MF) 1993 (MF2)

Ms. Fagely has been a Vice President of HASCO since 1998 and Chief Financial Officer since 2006. Currently Ms. Fagely is a Vice President of Hartford Life. She served as Assistant Vice President of Hartford Life from December 2001 through March 2005. In addition, Ms. Fagely is Controller and Chief Financial Officer of HIFSCO.

Brian Ferrell (1962) AML Compliance Officer since 2008

Mr. Ferrell has served as Assistant Vice President and AML Compliance Officer for The Hartford since 2006 and as AML Compliance Officer for HASCO and Hartford Investor Services Company, LLC (“HISC”) since 2008. Prior to joining The Hartford in 2006, Mr. Ferrell held various positions at the U.S. Department of the Treasury, (the “Treasury”), from 2001 to 2006 where he served as Chief Counsel for the Treasury’s Financial Crimes Enforcement Network, (“FinCEN”) from 2005 — 2006.

17

The Hartford Target Retirement 2035 Fund
Directors and Officers (Unaudited) — (continued)

Thomas D. Jones, III (1965) Vice President and Chief Compliance Officer since 2006

Mr. Jones serves as Chief Compliance Officer for the Hartford Mutual Funds and Vice President and Director of Securities Compliance for The Hartford. He is also Vice President of HIFSCO, HL Advisors, and Hartford Life Insurance Company. Mr. Jones joined The Hartford in 2006 from SEI Investments, where he served as Chief Compliance Officer for its mutual funds and investment advisers. Prior to joining SEI, Mr. Jones was First Vice President and Compliance Director for Merrill Lynch Investment Managers (Americas) (“MLIM”), where he worked from 1992-2004. At MLIM, Mr. Jones was responsible for the compliance oversight of various investment products, including mutual funds, wrap accounts, institutional accounts and alternative investments.

Edward P. Macdonald (1967) Vice President, Secretary and Chief Legal Officer since 2005

Mr. Macdonald serves as Assistant General Counsel and Assistant Vice President of The Hartford and Chief Legal Officer and Vice President of HIFSCO. He also serves as Vice President and Secretary of HASCO, Assistant Vice President of Hartford Life, and Chief Legal Officer, Secretary and Vice President of HL Advisors. Prior to joining The Hartford in 2005, Mr. Macdonald was Chief Counsel, Investment Management for Prudential Financial (formerly American Skandia Investment Services, Inc.). He joined Prudential in April 1999.

Vernon J. Meyer (1964) Vice President since 2006

Mr. Meyer serves as Senior Vice President of Hartford Life and as Director of its Investment Advisory Group in the Individual Markets Group segment. He also serves as Senior Vice President of HIFSCO and HL Advisors. Prior to joining The Hartford in 2004, Mr. Meyer was with MassMutual which he joined in 1987.

D. Keith Sloane (1960) Vice President since 2009

Mr. Sloane is a Senior Vice President of Hartford Life where he serves as Director of mutual fund product management for The Hartford’s mutual funds and 529 college savings businesses. Additionally, Mr. Sloane currently serves as Senior Vice President of HIFSCO, HL Advisors, and HASCO. Prior to joining The Hartford in 2007, Mr. Sloane was Director of product marketing and led the mutual fund business for Wachovia Securities (“Wachovia”) in their investment products group. Mr. Sloane joined Wachovia in 1995.

Jane Wolak (1961) Vice President since 2009

Ms. Wolak currently serves as Vice President of Hartford Life. Ms. Wolak joined Hartford Life as Vice President, Retail Product Services in May 2007. She is also Vice President of HASCO. Previously, Ms. Wolak was with Sun Life Financial where she held the position of Vice President, Service Center Operations from 2001 — 2007.

HOW TO OBTAIN A COPY OF THE FUND’S PROXY VOTING POLICIES AND VOTING RECORDS

A description of the policies and procedures that the Fund uses to determine how to vote proxies relating to portfolio securities and a record of how the Fund voted any proxies for the twelve-month period ended June 30, 2008 is available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov.

QUARTERLY PORTFOLIO HOLDINGS INFORMATION

The Fund files a complete schedule of portfolio holdings with the Commission for the first and third quarters of each fiscal year on Form N-Q. The Fund’s Forms are available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov. The Form N-Q may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330.

18

The Hartford Target Retirement 2035 Fund

Expense Example (Unaudited)

Your Fund’s Expenses

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments and contingent deferred sales charges (CDSC) (2) ongoing costs including management fees; distribution fees; and other fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the period of October 31, 2008 through April 30, 2009.

Actual Expenses

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

Hypothetical Example for Comparison Purposes

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

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads) and CDSC. Therefore, the second line 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 are equal to the Fund’s annualized expense ratios multiplied by average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

	Actual return						Hypothetical (5% return before expenses)
					Expenses paid						Expenses paid					Days in
					during the period						during the period					the		Days
	Beginning		Ending Account		October 31, 2008		Beginning		Ending Account		October 31,		Annualized			current		in the
	Account Value		Value		through		Account Value		Value		2008 through		expense			1/2		full
	October 31, 2008		April 30, 2009		April 30, 2009		October 31, 2008		April 30, 2009		April 30, 2009		ratio			year		year
Class R3	$	1,000.00	$	975.78	$	1.76	$	1,000.00	$	1,023.00	$	1.80		0.36	%		181		365
Class R4	$	1,000.00	$	977.32	$	0.29	$	1,000.00	$	1,024.49	$	0.30		0.06			181		365
Class R5	$	1,000.00	$	977.40	$	0.04	$	1,000.00	$	1,024.74	$	0.05		0.01			181		365

19

The Hartford Target Retirement 2040 Fund

Table of Contents

Manager Discussions (Unaudited)	2
Financial Statements
Schedule of Investments at April 30, 2009 (Unaudited)	4
Statement of Assets and Liabilities at April 30, 2009 (Unaudited)	5
Statement of Operations for the Six Month Period Ended April 30, 2009 (Unaudited)	6
Statement of Changes in Net Assets for the Six Month Period Ended April 30, 2009 (Unaudited) and the Year Ended October 31, 2008	7
Notes to Financial Statements (Unaudited)	8
Financial Highlights (Unaudited)	15
Directors and Officers (Unaudited)	16
How to Obtain a Copy of the Fund’s Proxy Voting Policies and Proxy Voting Records (Unaudited)	18
Quarterly Portfolio Holdings Information (Unaudited)	18
Expense Example (Unaudited)	19

The Hartford Target Retirement 2040 Fund
(subadvised by Hartford Investment Management Company)

Performance Overview(1) 10/31/08 — 4/30/09
Growth of a $10,000 investment in Class R3

Barclays Capital U.S. Aggregate Bond Index is an unmanaged index and is composed of securities from the Barclays Capital Government/Credit Bond Index, Mortgage-Backed Securities Index, Asset-Backed Securities Index and Commercial Mortgage-Backed Securities Index.

S&P 500 Index is a market capitalization weighted price index composed of 500 widely held common stocks.

You cannot invest directly in an index.

Investment objective – Seeks to maximize total return and secondarily, to seek capital preservation.

Average Annual Total Returns(2) (as of 4/30/09)

	Inception		Since
	Date		Inception
Target Retirement 2040 R3		10/31/08		-2.91	%
Target Retirement 2040 R4		10/31/08		-2.87	%
Target Retirement 2040 R5		10/31/08		-2.76	%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)	Growth of a $10,000 investment in Classes R4 and R5 shares will vary from results seen above due to differences in the expenses charged to these share classes.
(2)	Total returns presented above were calculated using the Fund’s net asset value available to shareholders for sale or redemption of Fund shares on April 30, 2009, which excludes investment transactions as of this date.

The value of shares will fluctuate so that, when redeemed, shares may be worth more or less than their original cost. The chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.

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

Portfolio Managers
Hugh Whelan, CFA	Edward C. Caputo, CFA
Managing Director	Vice President

How did the Fund perform?

The Class R3 shares of The Hartford Target Retirement 2040 Fund returned -2.91% for the six-month period ended April 30, 2009. In comparison, its benchmarks, the S&P 500 Index and the Barclays Capital U.S. Aggregate Bond Index, returned -8.53% and 7.74%, respectively, while the average return of the Lipper Mixed-Asset Target 2040 Funds category, a group of funds with investment strategies similar to those of the Fund, was -3.91%.

Why did the Fund perform this way?

The U.S. recession continued to deepen during the six-month period under review. Rising unemployment weighed on personal income and spending, while first quarter industrial production posted the steepest quarterly decline in more than 30 years. However, as the six-month period drew to a close, there were some signs that perhaps the rate of economic decline was beginning to slow. Financial conditions stabilized a bit, while the Federal Reserve’s purchases of long-term Treasuries and mortgage-backed securities also provided strong support for the mortgage market, driving fixed mortgage rates lower. Generally, the Fund’s target asset allocation is set at approximately 91% equities and 9% fixed-income.

This environment initially created another difficult period for stocks, with the S&P 500 Index closing at a new low of 676.53 on March 9, down -29.30% since the start of the 6-month period. However, emergent signs of a slowdown in the economy’s free-fall helped lift the index through the remainder of the period, leaving it down -8.53% for the period. The index was in the black in March and April, gaining 8.76% and 9.57%, respectively, for a gain of 29.38% from March 9 through the end of the period. Declines were widespread across most equity asset classes during the six-month period. Among the eleven equity asset classes in our

2

investment universe, emerging market stocks, EAFE small cap stocks, and U.S. midcap growth stock indices posted positive returns over the 6-month period. U.S. Real-Estate Investment Trusts (REITS) led the way lower during the period, while growth stocks continued to outperform value stocks across all market capitalization levels. International stocks outperformed U.S. stocks.

In fixed income, five and ten year Treasury yields increased during the 6-month period. Within the major sectors of the Barclays Capital U.S. Aggregate Bond Index, investment grade credit was the top performer at 11.47%, while commercial mortgage backed securities (CMBS) were the weakest performer at 1.32%. In the high yield asset classes, high yield bonds and emerging markets debt both outperformed the Barclays Capital U.S. Aggregate Bond Index, while floating rate notes did not. In addition, Treasury Inflation-Protection Securities (TIPS) were the best performing investment grade asset class in our investment universe at 9.46%.

There are two main drivers of the Fund’s performance: asset allocation among various asset classes and performance of the underlying funds. With regard to asset allocation, the Fund maintains relatively fixed exposures to the equity and fixed income markets. Therefore, we seek to add value by strategically allocating within the equity and fixed income investment sub asset classes. Our asset allocation decisions over the period improved the Fund’s performance.

Concerning the Fund’s equity exposure, favorable allocations to emerging market stocks and international small cap stocks helped offset unfavorable allocations to U.S. stocks. By design, the Fund also maintains exposure to various fixed income asset classes to deliver a well diversified portfolio solution. The Fund also benefited from its allocation to TIPS. Based on the risk preferences of the Fund’s mandate, the portfolio’s duration (a measure of a bond’s sensitivity to changes in interest rates) is targeted to be greater than the Barclays Capital U.S. Aggregate Bond Index. The Fund benefited from the longer duration positioning.

Beyond the asset allocation decision, we also seek to add value by selecting the underlying mutual funds that will most effectively deliver the target asset class exposures. We analyze all of the funds in our investment universe, looking through each fund’s objectives and stated benchmark to see what it actually holds and how it behaves. During the period, the Fund benefited from underlying fund selection.

During the period, the Fund continued to utilize Exchange-Traded Funds (ETFs) to obtain asset class exposures otherwise unavailable through The Hartford family of funds. Specifically, the Fund has target allocations to ETFs that provide U.S. real estate and international real estate exposure, as well as emerging market debt exposure.

Whenever possible, we rely on cash flows to execute our allocation changes. During the period, a hard rebalance (i.e. a fund rebalancing to move the underlying fund investments to their target allocation percentages) was executed to bring the fund allocations closer to their targets. In addition, we have changed the target allocation to stocks and bonds from 92% stock and 8% bond to 91% stock and 9% bond.

What is the outlook?

In fixed income, risk premiums (the additional compensation paid to investors to tolerate the increased level of risk in a given asset class relative to Treasuries) across most asset classes reversed course and began to contract as conditions improved and volatility declined. An onslaught of government policy, from fiscal stimulus to quantitative easing, was the primary catalyst and buyers of historically inexpensive corporate debt emerged as more market participants recognized relative value versus equities. Although risk premiums have come off their historical peak, spreads remain significantly wider (i.e. short and long term interest rates farther apart) than in prior recessions.

In equities the earnings picture is cloudy. First, earnings are falling at near record-breaking rates and all indications are that they will continue to fall. Second, the quality and reliability of the earnings reported is lower than historical standards as the gap between pro forma (“street”) earnings and GAAP (Generally Accepted Accounting Principles) earnings rose in the past several months. Third, there is little clarity in future earnings prospects as the disparity among analyst estimates for future earnings remains at elevated levels. Historically, such consensus building was a precondition to the final, sustained recovery from bear markets associated with recessions.

That said, we believe that investors are well served by adhering to a strategic, diversified portfolio and rebalancing accordingly. We construct these portfolios based upon the long-term properties of asset classes. We look at their long-term returns, volatilities, and correlations between each other and run optimizations to build an optimal portfolio.

Composition by Underlying Fund
as of April 30, 2009

	Percentage of Net
Fund Name	Assets
SPDR DJ Wilshire International Real Estate ETF		2.1	%
SPDR DJ Wilshire REIT ETF		1.6
The Hartford Capital Appreciation Fund, Class Y		17.7
The Hartford Capital Appreciation II Fund, Class Y		5.5
The Hartford Dividend and Growth Fund, Class Y		1.5
The Hartford Equity Income Fund, Class Y		3.0
The Hartford Fundamental Growth Fund, Class Y		3.9
The Hartford Global Growth Fund, Class Y		3.1
The Hartford Growth Fund, Class Y		6.6
The Hartford Growth Opportunities Fund, Class Y		2.5
The Hartford Inflation Plus Fund, Class Y		3.3
The Hartford International Opportunities Fund, Class Y		7.6
The Hartford International Small Company Fund, Class Y		4.6
The Hartford Select SmallCap Value Fund, Class Y		3.3
The Hartford Small Company Fund, Class Y		6.3
The Hartford Total Return Bond Fund, Class Y		4.6
The Hartford Value Fund, Class Y		21.8
Other Assets and Liabilities		1.0
Total		100.0	%

3

The Hartford Target Retirement 2040 Fund

Schedule of Investments

April 30, 2009 (Unaudited)

(000’s Omitted)

Shares or Principal Amount					Market Value ╪
AFFILIATED INVESTMENT COMPANIES - 95.3%
EQUITY FUNDS - 87.4%
	21	The Hartford Capital Appreciation Fund, Class Y			$	516
	18	The Hartford Capital Appreciation II Fund, Class Y•				159
	3	The Hartford Dividend and Growth Fund, Class Y				44
	10	The Hartford Equity Income Fund, Class Y				88
	15	The Hartford Fundamental Growth Fund, Class Y•				114
	8	The Hartford Global Growth Fund, Class Y•				90
	16	The Hartford Growth Fund, Class Y•				193
	4	The Hartford Growth Opportunities Fund, Class Y•				72
	22	The Hartford International Opportunities Fund, Class Y				222
	17	The Hartford International Small Company Fund, Class Y				135
	15	The Hartford Select SmallCap Value Fund, Class Y				97
	14	The Hartford Small Company Fund, Class Y•				185
	79	The Hartford Value Fund, Class Y				636
		Total equity funds (cost $2,618)			$	2,551
FIXED INCOME FUNDS - 7.9%
	9	The Hartford Inflation Plus Fund, Class Y			$	96
	14	The Hartford Total Return Bond Fund, Class Y				133
		Total fixed income funds (cost $218)			$	229
		Total investments in affiliated investment companies (cost $2,836)			$	2,780
EXCHANGE TRADED FUNDS - 3.7%
	2	SPDR DJ Wilshire International Real Estate ETF			$	60
	1	SPDR DJ Wilshire REIT ETF				48
		Total exchange traded funds (cost $129)			$	108
		Total long-term investments (cost $2,965)			$	2,888
		Total investments (cost $2,965) ▲	99.0	%	$	2,888
		Other assets and liabilities	1.0	%		30
		Total net assets	100.0	%	$	2,918

Note:	Percentage of investments as shown is the ratio of the total market value to total net assets.
▲	At April 30, 2009, the cost of securities for federal income tax purposes was $2,965 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	42
Unrealized Depreciation		(119	)
Net Unrealized Depreciation	$	(77	)

•	Currently non-income producing.
╪	See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of securities.

FAS 157 Disclosure of Investment Valuation Hierarchy Levels

Assets:
Investment in securities — Level 1	$	2,888
Total	$	2,888

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

4

The Hartford Target Retirement 2040 Fund

Statement of Assets and Liabilities

April 30, 2009 (Unaudited)

(000’s Omitted)

Assets:
Investments in securities, at fair value (cost $129)	$	108
Investments in underlying affiliated funds, at fair value (cost $2,836)		2,780
Receivables:
Fund shares sold		—
Dividends and interest		—
Other assets		33
Total assets		2,921
Liabilities:
Payables:
Investment management fees		—
Distribution fees		—
Accrued expenses		3
Total liabilities		3
Net assets	$	2,918
Summary of Net Assets:
Capital stock and paid-in-capital		3,039
Accumulated undistributed net investment income		3
Accumulated net realized loss on investments		(47	)
Unrealized depreciation of investments		(77	)
Net assets	$	2,918
Shares authorized		150,000
Par value	$	0.001
Class R3: Net asset value per share	$	9.59
Shares outstanding		102
Net assets	$	974
Class R4: Net asset value per share	$	9.59
Shares outstanding		101
Net assets	$	972
Class R5: Net asset value per share	$	9.60
Shares outstanding		101
Net assets	$	972

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

5

The Hartford Target Retirement 2040 Fund

Statement of Operations

From (commencement of operations) October 31, 2008 through April 30, 2009 (Unaudited)

(000’s Omitted)

Investment Income:
Dividends	$	3
Dividends from underlying affiliated funds		37
Total investment income		40
Expenses:
Investment management fees		2
Transfer agent fees		—
Distribution fees
Class R3		2
Class R4		1
Custodian fees		—
Accounting services		—
Registration and filing fees		18
Board of Directors’ fees		—
Audit fees		3
Other expenses		3
Total expenses (before waivers)		29
Expense waivers		(27	)
Total waivers		(27	)
Total expenses, net		2
Net investment income		38
Net Realized Loss on Investments:
Net realized loss on investments in underlying affiliated funds		(47	)
Net realized gain on investments in securities		—
Net Realized Loss on Investments		(47	)
Net Changes in Unrealized Depreciation of Investments:
Net unrealized depreciation of investments		(77	)
Net Changes in Unrealized Depreciation of Investments		(77	)
Net Loss on Investments		(124	)
Net Decrease in Net Assets Resulting from Operations	$	(86	)

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

6

The Hartford Target Retirement 2040 Fund

Statement of Changes in Net Assets

(000’s Omitted)

	For the Period
	October 31, 2008**
	through
	April 30, 2009
Operations:
Net investment income	$	38
Net realized loss on investments		(47	)
Net unrealized depreciation of investments		(77	)
Net decrease in net assets resulting from operations		(86	)
Distributions to Shareholders:
From net investment income
Class R3		(11	)
Class R4		(12	)
Class R5		(12	)
Total distributions		(35	)
Capital Share Transactions:
Class R3		1,015
Class R4		1,012
Class R5		1,012
Net increase from capital share transactions		3,039
Net increase in net assets		2,918
Net Assets:
Beginning of period		—
End of period	$	2,918
Accumulated undistributed (distribution in excess of) net investment income (loss)	$	3

^** Commencement of operations.

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

7

The Hartford Target Retirement 2040 Fund

Notes to Financial Statements

April 30, 2009 (Unaudited)

(000’s Omitted)

1.	Organization:
	The Hartford Mutual Funds, Inc. (“Company”) is an open-end management investment company comprised of fifty-two portfolios. Financial statements for The Hartford Target Retirement 2040 Fund (the “Fund”), a series of the Company, are included in this report.
	The Company is organized under the laws of the State of Maryland and is registered with the Securities and Exchange Commission (“SEC”) under the Investment Company Act of 1940, as amended (“1940 Act”). The Fund is a diversified open-end management investment company.
	Classes R3, R4, R5 shares, which are offered to employer-sponsored retirement plans, are sold without a sales charge. All classes of shares have identical voting, redemption, dividend, liquidation and other rights and the same terms and conditions, with the exceptions that each class may have different expenses, which may affect performance.
	The Fund, as a “Fund of Funds”, invests the majority of its assets in Class Y shares of other Hartford mutual funds (“Underlying Funds”) as well as certain exchange-traded funds (“ETFs”). The Fund seeks its investment goals through implementation of a strategic asset allocation recommendation provided by Hartford Investment Management Company (“Hartford Investment Management”), a wholly-owned indirect subsidiary of The Hartford Financial Services Group, Inc. (“The Hartford”).
2.	Significant Accounting Policies:
	The accounting policies of the affiliated underlying funds are outlined in the shareholder reports for such funds, available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov. The reports may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330. The affiliated underlying funds are not covered by this report.
	The following is a summary of significant accounting policies of the Fund, which are in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”).

a)	Security Transactions and Investment Income - Security transactions are recorded on the trade date (the date the order to buy or sell is executed). Security gains and losses are determined on the basis of identified cost.
	Dividend income is accrued as of the ex-dividend date. Income and capital gain distributions from Underlying Funds are recorded on the ex-dividend date.
b)	Security Valuation – Investments in open-end mutual funds are valued at the respective NAV of each open-end mutual fund on the valuation date.
	The Fund generally uses market prices in valuing portfolio securities. If market prices are not readily available or are deemed unreliable, the Fund will use the fair value of the security as determined in good faith under policies and procedures established by and under the supervision of the Fund’s Board of Directors. Market prices may be deemed unreliable, for example, if a security is thinly traded or if an event has occurred after the close of the security’s primary markets, but before the close of the New York Stock Exchange (the “Exchange”) (normally 4:00 p.m. Eastern Time, referred to as the “Valuation Time”) that is expected to affect the value of the portfolio security. The circumstances in which the Fund may use fair value pricing include, among others: (i) the occurrence of events that are significant to a particular issuer, such as mergers, restructuring or defaults; (ii) the occurrence of events that are significant to an entire market, such as natural disasters in a particular region or governmental actions; (iii) trading restrictions on securities; (iv) thinly traded securities and (v) market events such as trading halts and early market closings. In addition, with respect to

8

the valuation of stocks primarily traded on foreign markets, the Fund uses a fair value pricing service approved by the Fund’s Board of Directors, which employs quantitative models that evaluate changes in the value of foreign market proxies (e.g., futures contracts, ADR’s, exchange traded funds (“ETF’s”)) after the close of the foreign markets but before the close of the Exchange. Securities that are primarily traded on foreign markets may trade on days that are not business days of the Fund. The value of the foreign securities in which the Fund invests may change on days when a shareholder will not be able to purchase or redeem shares of the Fund. Fair value pricing is subjective in nature and the use of fair value pricing by the Fund may cause the NAV of its shares to differ significantly from the NAV that would have been calculated using market prices at the close of the exchange on which a portfolio security is primarily traded but before the close of the Exchange. There can be no assurance that the Fund could obtain the fair value assigned to a security if the Fund were to sell the security at approximately the time at which the Fund determines its NAV.

Debt securities (other than short-term obligations and senior floating rate interests) held by the Fund are valued on the basis of valuations furnished by an independent pricing service which determines valuations for normal institutional size trading units of debt securities. Senior floating rate interests generally trade in over-the-counter markets and are priced through an independent pricing service utilizing independent market quotations from loan dealers or financial institutions. Securities for which prices are not available from an independent pricing service are valued using market quotations obtained from one or more dealers that make markets in the securities in accordance with procedures established by the Fund’s Board of Directors. Generally, the Fund may use fair valuation in regard to debt securities when the Fund holds defaulted or distressed securities or securities in a company in which a reorganization is pending. Short-term investments with a maturity of more than 60 days when purchased are valued based on market quotations until the remaining days to maturity become less than 61 days. Investments that mature in 60 days or less are valued at amortized cost, which approximates market value.

Exchange traded equity securities shall be valued at the last reported sale price on the exchange or market on which the security is primarily traded (the “Primary Market”) at the Valuation Time. If the security did not trade on the Primary Market, it may be valued at the Valuation Time at the last reported sale price on another exchange where it trades. The value of an equity security not traded on any exchange but traded on the Nasdaq Stock Market, Inc. (“Nasdaq”) or another over-the-counter market shall be valued at the last reported sale price or official closing price on the exchange or market on which the security is traded as of the Valuation Time. If it is not possible to determine the last reported sale price or official closing price on the relevant exchange or market at the Valuation Time, the value of the security shall be taken to be the most recent mean between bid and asked prices on such exchange or market at the Valuation Time.

Securities of foreign issuers and non-dollar securities are translated from the local currency into U.S. dollars using prevailing exchange rates.

Options contracts on securities, currencies, indexes, futures contracts, commodities and other instruments shall be valued at their most recent sales price at the Valuation Time on the Primary Market on which the instrument is primarily traded. If the instrument did not trade on the Primary Market, it may be valued at the most recent sales price at the Valuation Time on another exchange or market where it did trade.

Futures contracts are valued at the most recent settlement price reported by an exchange on which, over time, they are traded most extensively. If a settlement price is not available, futures contracts will be valued at the most recent trade price as of the Valuation Time. If there were no trades, the contract shall be valued at the mean of the closing bid/ask prices as of the Valuation Time.

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

A forward currency contract shall be valued based on the price of the underlying currency at the prevailing interpolated exchange rate, which is a combination of the spot currency rate and the forward currency rate. Spot currency rates and

9

The Hartford Target Retirement 2040 Fund

Notes to Financial Statements – (continued)

April 30, 2009 (Unaudited)

(000’s Omitted)

	forward currency rates are obtained from an independent pricing service on a daily basis not more than one hour before the Valuation Time.
	Swaps are valued based on custom valuations furnished by an independent pricing service. Swaps for which prices are not available from an independent pricing service are valued in accordance with procedures established by the Fund’s Board of Directors.
	Other derivative or contractual type instruments shall be valued using market prices if such instruments trade on an exchange or market. If such instruments do not trade on an exchange or market, such instruments shall be valued at a price at which the counterparty to such contract would repurchase the instrument. In the event that the counterparty cannot provide a price, such valuation may be determined in accordance with procedures established by the Fund’s Board of Directors.
c)	Indexed Securities – The Fund may invest in indexed securities whose values are linked to changes in interest rates, indices, or other underlying instruments. The Fund uses these securities to increase or decrease its exposure to different underlying instruments and to gain exposure to markets that might be difficult to invest in using conventional securities. Indexed securities may be more volatile than their underlying instruments, but any loss is limited to the amount of the original investment and there may be a limit to the potential appreciation of the investment. The Fund had investments in indexed securities as of April 30, 2009, as shown on the Schedule of Investments under Exchange Traded Funds.
d)	Fund Share Valuation and Dividend Distributions to Shareholders — Orders for the Fund’s shares are executed in accordance with the investment instructions of the shareholders. The NAV of the Fund’s shares is determined as of the close of each business day of the Exchange. The NAV is determined separately for each class of the Fund by dividing the Fund’s net assets attributable to that class by the number of shares of the class outstanding. Orders for the purchase of the Fund’s shares prior to the close of the Exchange on any day on which the Exchange is open for business are priced at the NAV determined as of the close of the Exchange. Orders after the close of the Exchange, or on a day on which the Exchange and/or the Fund is not open for business, are priced at the next determined NAV.
	The Fund intends to distribute substantially all of its net investment income and net realized capital gains to shareholders no less frequently than once a year. Normally, dividends from net investment income of the Fund are declared and paid annually. Dividends are paid on shares beginning on the business day after the day when the funds used to purchase the shares are collected by the transfer agent for the Fund. Long-term capital gains distributions received from underlying funds are distributed at least annually, when required. Unless shareholders specify otherwise, all dividends and distributions will be automatically reinvested in additional full or fractional shares of the Fund.
	Distributions from net investment income, realized capital gains and capital are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP with respect to character and timing. These differences include but are not limited to foreign currency gains and losses, losses deferred due to wash sales adjustments, adjustments related to Passive Foreign Investment Companies and certain derivatives, and excise tax regulations. Permanent book and federal income tax basis differences relating to shareholder distributions will result in reclassifications to certain of the Fund’s capital accounts (see Federal Income Taxes: Reclassification of Capital Accounts footnote).
e)	Use of Estimates — The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and the reported amounts of income and expenses during the period. Operating results in the future could vary from the amounts derived from management’s estimates.
f)	Financial Accounting Standards Board Financial Accounting Standards No. 157 – Effective November 1, 2008, the Fund adopted Financial Accounting Standards Board (“FASB”) Statement of Financial Accounting Standards No. 157, “Fair Value Measurements” (“FAS 157”). This standard clarifies the definition of fair value for financial reporting,

10

establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements. Fair value is defined under FAS 157 as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Under FAS 157, a fair value measurement should reflect all of the assumptions that market participants would use in pricing the asset or liability, including assumptions about the risk inherent in a particular valuation technique, the effect of a restriction on the sale or use of an asset, and the risk of nonperformance.

Various inputs are used in determining the value of the Fund’s investment. These inputs are summarized, per FAS 157, into three broad hierarchy levels. This hierarchy is based on whether the valuation inputs are observable or unobservable. These levels are:

• Level 1 – Quoted prices in active markets for identical securities. Level 1 includes exchange-traded instruments such as domestic equities, some foreign equities, options, futures, mutual funds, ETF’s, and rights and warrants.

• Level 2 – Observable inputs other than Level 1 prices, such as quoted prices for similar securities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the security. Level 2 includes debt securities that are traded less frequently than exchange-traded instruments and that are valued using third party pricing services and foreign equities, whose value is determined using a multi-factor regression model with inputs that are observable in the market; and money market instruments, which are carried at amortized cost.

• Level 3 – Significant unobservable inputs that are supported by little or no market activity. Level 3 includes financial instruments whose values are determined using broker quotes and require significant management judgment or estimation. This category includes broker quoted securities, long dated OTC options and securities where trading has been halted or there are certain restrictions on trading. While these securities are priced using unobservable inputs, the valuation of these securities reflects the best available data and management believes the prices are a good representation of exit price.

	Individual securities within any of the above mentioned asset classes may be assigned a different hierarchical level than those presented above, as individual circumstances dictate.
	FAS 157 also requires that a roll forward reconciliation be shown for all Level 3 securities from the beginning of the reporting period to the end of the reporting period. Part of this reconciliation includes transfers in and/or out of Level 3. For purposes of this reconciliation, transfers in are shown at the end of period fair value and transfers out are shown at the beginning of period fair value. During the six-month period ended April 30, 2009, the Fund held no Level 3 securities.
	FASB Staff Position No. 157-4 – In April 2009, FASB released FASB Staff Position No. 157-4, “Determining Fair Value When the Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly” (“FSP FAS 157-4”). FSP FAS 157-4 provides additional guidance on determining whether a market for a financial asset is not active and a transaction is not distressed when measuring fair value under FAS 157. The FSP also requires additional disclosure detail on debt and equity securities by major investment categories. FSP FAS 157-4 is effective for interim and annual periods ending after June 15, 2009. At this time, management is evaluating the implications of FSP FAS 157-4 and does not believe it will impact valuation but will require additional disclosure. This additional disclosure has not yet been implemented.
g)	Financial Accounting Standards Board Financial Accounting Standards No. 161 – In March 2008, the FASB released Statement of Financial Accounting Standards No. 161, “Disclosures about Derivative Instruments and Hedging Activities” (“FAS 161”). FAS 161 requires companies to disclose information detailing the objectives and strategies for using derivative instruments, the level of derivative activity entered into by the company and any credit risk-related contingent features of the agreements. The application of FAS 161 is required for fiscal years and interim periods beginning after November 15, 2008. At this time, management is evaluating the implications of FAS 161 and has not yet implemented the new disclosure standard.

11

The Hartford Target Retirement 2040 Fund

Notes to Financial Statements – (continued)

April 30, 2009 (Unaudited)

(000’s Omitted)

h) Indemnifications: Under the Company’s organizational documents, the Company shall indemnify its officers and directors to the full extent required or permitted under Maryland General Corporation Law and the federal securities law. In addition, the Company, on behalf of the Fund, may enter into contracts that contain a variety of indemnifications. The Company’s maximum exposure under these arrangements is unknown. However, the Company has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote.

3. Federal Income Taxes:

a)	Federal Income Taxes - For federal income tax purposes, the Fund intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code (“IRC”) by distributing substantially all of its taxable net investment income and net realized capital gains to its shareholders and otherwise complying with the requirements of regulated investment companies. The Fund has distributed substantially all of its income and capital gains in prior years and the Fund intends to distribute substantially all of its income and gains during the calendar year ending December 31, 2009. Accordingly, no provision for federal income or excise taxes has been made in the accompanying financial statements. Distributions from short-term capital gains are treated as ordinary income distributions for federal income tax purposes.
b)	Reclassification of Capital Accounts - In accordance with American Institute of Certified Public Accountants (AICPA) Statement of Position 93-2, Determination, Disclosure, and Financial Statement Presentation of Income, Capital Gain, and Return of Capital Distributions by Investment Companies, the Fund may record reclassifications in its capital accounts. These reclassifications have no impact on the NAV of the Fund. The reclassifications are a result of permanent differences between GAAP and tax accounting for such items as net operating losses that reduce distribution requirements. Adjustments are made to reflect the impact these items have on current and future distributions to shareholders. Therefore, the source of the Fund’s distributions may be shown in the accompanying Statement of Changes in Net Assets as from net investment income, from net realized gains on investments or from capital depending on the type of book and tax differences that exist. Reclassifications are made at fiscal year end and therefore, no reclassifications were made during the six-month period ended April 30, 2009.
c)	Financial Accounting Standards Board Interpretation No. 48 – On July 13, 2006, the FASB released FASB Interpretation No. 48 “Accounting for Uncertainty in Income Taxes” (“FIN 48”). FIN 48 provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. The Fund has adopted FIN 48. Management has evaluated the implications of FIN 48 for the Fund and has determined there is no impact to the Fund’s financial statements.

4. Expenses:

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

12

The schedule below reflects the rates of compensation paid to HIFSCO for investment management services rendered during the six-month period ended April 30, 2009; the rates are accrued daily and paid monthly:

Average Daily Net Assets	Annual Fee
On first $500 million		0.15	%
On next $4.5 billion		0.10	%
On next $5 billion		0.08	%
Over $10 billion		0.07	%

b) Accounting Services Agreement – Pursuant to the Fund Accounting Agreement between Hartford Life Insurance Company (“HLIC”) and the Fund, HLIC provides accounting services to the Fund and receives monthly compensation on the Fund’s average net assets. The Fund’s accounting service fees are accrued daily and paid monthly.

Average Daily Net Assets	Annual Fee
On first $5 billion		0.012	%
Over $5 billion		0.010	%

c) Operating Expenses - Allocable expenses incurred by the Company are allocated to each Fund and allocated to classes within the Fund in proportion to the average daily net assets of the Fund and each class, except where allocation of certain expenses is more fairly made directly to the Fund or to specific classes within a Fund. During the six-month period ended April 30, 2009, HIFSCO has contractually limited the total operating expenses of this Fund, exclusive of taxes, interest expense, brokerage commissions, certain distribution expenses and extraordinary expenses as follows:

Class R3	Class R4	Class R5
1.20%	0.90%	0.85%

	Voluntary limitations for total operating expenses include expenses incurred as the result of investing in other investment companies. Amounts incurred which exceed the above limits are deducted from expenses and are reported as waivers on the accompanying Statement of Operations.
d)	Distribution and Service Plan for Class R3 and R4 Shares - HIFSCO is the principal underwriter and distributor of the Fund. HIFSCO is engaged in distribution activities, which include marketing and distribution of shares through broker-dealers, financing distribution costs and maintaining financial books and records.
	The Fund has adopted Distribution and Service Plans in accordance with Rule 12b-1 of the Investment Company Act of 1940, as amended, to compensate the distributor (HIFSCO) for activities intended to result in the sale and distribution of Classes R3 and R4 shares and for providing services for shareholders. The Rule 12b-1 plan applicable to Class R3 shares provides for a distribution fee of 0.50%. The Rule 12b-1 plan applicable to Class R4 shares provides for a distribution fee of 0.25%. For Classes R3 and R4 shares, some or the entire fee may be remitted to broker dealers for distribution and/or shareholder account services. The Fund’s 12b-1 fees are accrued daily and paid monthly.
	For the six-month period ended April 30, 2009, total sales commissions paid to affiliated brokers/dealers of The Hartford for distributing the Fund’s shares rounds to zero. These commissions are in turn paid to sales representatives of the broker/dealers.
e)	Other Related Party Transactions – Certain officers of the Fund are directors and/or officers of HIFSCO, and/or The Hartford or its subsidiaries. For the six-month period ended April 30, 2009, a portion of the Fund’s chief compliance officer’s salary was paid by the Fund in an amount, which rounds to zero. Hartford Administrative Services Company (“HASCO”), a wholly owned subsidiary of The Hartford, provides transfer agent services to the Fund. HASCO was compensated an amount, which rounds to zero, for providing such services. These fees are accrued daily and paid monthly.

13

The Hartford Target Retirement 2040 Fund

Notes to Financial Statements – (continued)

April 30, 2009 (Unaudited)

(000’s Omitted)

5.	Affiliate Holdings:
	As of April 30, 2009, affiliates of The Hartford had ownership of shares in the Fund as follows:

	Shares
Class R3		101
Class R4		101
Class R5		101

6.	Investment Transactions:
	For the six-month period ended April 30, 2009, the Fund’s aggregate purchases and sales of investment securities (excluding short-term investments) were as follows:

	Amount
Cost of Purchases Excluding U.S. Government Obligations	$	3,328
Sales Proceeds Excluding U.S. Government Obligations		316

7.	Capital Share Transactions:
	The following information is for the six-month period ended April 30, 2009.

	For the Six-Month Period Ended 4/30/2009
			Shares				Shares
			Issued for				Issued		Net Increase
	Shares		Reinvested		Shares		from		(Decrease) of
	Sold		Dividends		Redeemed		Merger		Shares
Class R3
Shares		101		1		—		—		102
Amount	$	1,004	$	11	$	—	$	—	$	1,015
Class R4
Shares		100		1		—		—		101
Amount	$	1,000	$	12	$	—	$	—	$	1,012
Class R5
Shares		100		1		—		—		101
Amount	$	1,000	$	12	$	—	$	—	$	1,012

8.

Line of Credit:

The Fund is one of several Hartford Funds that participate in a $500 million committed revolving line of credit facility. The facility is to be used for temporary or emergency purposes. Under the arrangement, the Fund is required to own securities having a market value in excess of 300% of the total bank borrowings. The interest rate on borrowings varies depending on the nature of the loan. The facility also requires a fee to be paid based on the amount of the commitment. During the six-month period ended April 30, 2009, the Fund did not have any borrowings under this facility.

14

The Hartford Target Retirement 2040 Fund

Financial Highlights – (Unaudited)

— Selected Per-Share Data — (a)

— Ratios and Supplemental Data —

Ratio of

Ratio of

Ratio of

Expenses

Expenses

Expenses

to Average

to Average

to Average

Net Assets

Net Assets

Net Assets

Before

After

After

Net

Waivers

Waivers

Waivers

Realized

and

and

and

Ratio of

and Un-

Distrib-

Net

Reimburse-

Reimburse-

Reimburse-

Net

Net

Pay-

realized

Dividends

utions

Increase

Net

Net

ments and

ments and

ments and

Invest-

Port-

Net Asset

Invest-

ments

Gain

from Net

from

Distri-

(Decrease)

Asset

Assets at

Including

Including

Excluding

ment

folio

Value at

ment

from

(Loss) on

Total from

Invest-

Realized

butions

Total

in Net

Value at

End of

Expenses

Expenses

Expenses

Income to

Turn-

Beginning

Income

(to)

Invest-

Investment

ment

Capital

from

Distri-

Asset

End of

Total

Period

not Subject

not Subject

not Subject

Average

over

Class

of Period

(Loss)

Affiliate

ments

Operations

Income

Gains

Capital

butions

Value

Period

Return(b)

(000's)

to Cap(c)

to Cap(c)

to Cap(c)

Net Assets

Rate(d)

From (commencement of operations) October 31, 2008, through April 30, 2009 (Unaudited)

R3

$

10.00

$

0.12

$

—

$

(0.42

)

$

(0.30

)

$

(0.11

)

$

—

$

—

$

(0.11

)

$

(0.41

)

$

9.59

(2.91)

%(e)

$

974

2.50

%(f)

0.34

%(f)

0.34

%(f)

2.67

%(f)

14

%

R4

10.00

0.13

—

(0.42

)

(0.29

)

(0.12

)

—

—

(0.12

)

(0.41

)

9.59

(2.87

) (e)

972

2.20

(f)

0.04

(f)

0.04

(f)

2.97

(f)

—

R5

10.00

0.13

—

(0.41

)

(0.28

)

(0.12

)

—

—

(0.12

)

(0.40

)

9.60

(2.76

) (e)

972

1.90

(f)

0.00

(f)

0.00

(f)

3.01

(f)

—

(a)	Information presented relates to a share outstanding throughout the indicated period.
(b)	Assumes initial investment at net asset value at the beginning of each period, reinvestment of all distributions, the complete redemption of the investment at net asset value at the end of each period and no sales charge. Total return would be reduced if sales charges were taken into account.
(c)	Expense ratios do not include expenses of the underlying funds.
(d)	Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between the classes of shares issued.
(e)	Not annualized.
(f)	Annualized.

15

The Hartford Target Retirement 2040 Fund

Directors and Officers (Unaudited)

The Board of Directors appoints officers who are responsible for the day-to-day operations of the Fund and who execute policies formulated by the Directors. Each director serves until his or her death, resignation, or retirement or until the next annual meeting of shareholders is held or until his or her successor is elected and qualifies.

Directors and officers who are employed by or who have a financial interest in The Hartford are considered “interested” persons of the Fund pursuant to the Investment Company Act of 1940, as amended. Each officer and three of the Fund’s directors, as noted in the chart below, are “interested” persons of the Fund. Each director serves as a director for The Hartford Mutual Funds, Inc., The Hartford Mutual Funds II, Inc., The Hartford Income Shares Fund, Inc., Hartford Series Fund, Inc., and Hartford HLS Series Fund II, Inc., which collectively consist of 100 funds. Correspondence may be sent to directors and officers c/o Hartford Mutual Funds, P.O. Box 2999, Hartford, Connecticut 06104-2999, except that correspondence to Ms. Fagely may be sent to 500 Bielenberg Drive, Woodbury, Minnesota 55125.

The table below sets forth, for each director and officer, his or her name, year of birth, current position with the Fund and date first elected or appointed to The Hartford Mutual Funds, Inc. (“MF”) and The Hartford Mutual Funds II, Inc. (“MF2”), principal occupation, and, for directors, other directorships held. The Fund’s statement of additional information contains further information on the directors and is available free of charge by calling 1-888-843-7824 or writing to Hartford Mutual Funds, P.O. Box 64387, St. Paul, MN 55164-0387.

Information on the aggregate remuneration paid to the directors of the Fund can be found in the Statement of Operations herein. The Fund pays a portion of the Chief Compliance Officer’s compensation, but does not pay salaries or compensation to any of its officers or directors who are employed by The Hartford.

Non-Interested Directors

Lynn S. Birdsong (1946) Director since 2003, Co-Chairman of the Investment Committee

Mr. Birdsong is a private investor. Since 1981, Mr. Birdsong has been a partner in Birdsong Company, an advertising specialty firm. Since 2003, Mr. Birdsong has been an independent director of The Japan Fund. From 2003 to March 2005, Mr. Birdsong was an independent director of the Atlantic Whitehall Funds. From 1979 to 2002, Mr. Birdsong was a managing director of Zurich Scudder Investments, an investment management firm. During his employment with Scudder, Mr. Birdsong was an interested director of The Japan Fund.

Robert M. Gavin, Jr. (1940) Director since 2002 (MF) and 1986 (MF2), Chairman of the Board since 2004

Dr. Gavin is an educational consultant. Prior to September 1, 2001, he was President of Cranbrook Education Community and prior to July 1996, he was President of Macalester College, St. Paul, Minnesota.

Duane E. Hill (1945) Director since 2001 (MF) and 2002 (MF2), Chairman of the Nominating Committee

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

Sandra S. Jaffee (1941) Director since 2005

Ms. Jaffee is Chairman and Chief Executive Officer of Fortent (formerly Searchspace Group), a leading provider of compliance/regulatory technology to financial institutions. Ms. Jaffee served as an Entrepreneur in Residence with Warburg Pincus, a private equity firm, from August 2004 to August 2005. From September 1995 to July 2004, Ms. Jaffee served as Executive Vice President at Citigroup, where she was President and Chief Executive Officer of Citibank’s Global Securities Services (1995-2003).

William P. Johnston (1944) Director since 2005, Chairman of the Compliance Committee

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

16

Phillip O. Peterson (1944) Director since 2002 (MF) and 2000 (MF2), Chairman of the Audit Committee

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

Lemma W. Senbet (1946) Director since 2005

Dr. Senbet is the William E. Mayer Chair Professor of Finance at the University of Maryland, Robert H. Smith School of Business. He was chair of the Finance Department during 1998-2006. Previously he was an endowed professor of finance at the University of Wisconsin-Madison. Also, he was director of the Fortis Funds from March 2000-July 2002. Dr. Senbet served the finance profession in various capacities, including as director of the American Finance Association and President of the Western Finance Association. In 2006, Dr. Senbet was inducted Fellow of Financial Management Association International for his career-long distinguished scholarship and professional service.

Interested Directors and Officers

Thomas M. Marra* (1958) Director since 2002

Mr. Marra has served as President and Chief Operating Officer of The Hartford Financial Services Group, Inc. (“The Hartford”) since 2007. Mr. Marra currently serves as Director of Hartford Life, Inc. (“HL, Inc.”). Mr. Marra served as Chief Operating Officer of Hartford Life Insurance Company, Inc. (“Hartford Life”) (2000-2008), as President of Hartford Life (2002-2008) and as Director of Hartford Life’s Investment Products Division from 1998 to 2000.

* On February 24, 2009, The Hartford and Mr. Marra determined to enter into a mutually agreed separation whereby Mr. Marra will retire, and his role as an executive officer and employee of The Hartford will terminate, effective July 3, 2009. Mr. Marra will resign his position as a Director of the Fund effective June 25, 2009.

Lowndes A. Smith (1939) Director since 2002, Co-Chairman of the Investment Committee

Mr. Smith served as Vice Chairman of The Hartford from February 1997 to January 2002, as President and Chief Executive Officer of Hartford Life, Inc. from February 1997 to January 2002, and as President and Chief Operating Officer of The Hartford Life Insurance Companies from January 1989 to January 2002. Mr. Smith serves as a Director of White Mountains Insurance Group, Ltd., One Beacon Insurance, Symetra Financial and as a Managing Director of Whittington Gray Associates.

John C. Walters* (1962) Director since 2008

Mr. Walters currently serves as Chief Executive Officer, President and Director of HL, Inc. Mr. Walters previously served as President of the U.S. Wealth Management Division of Hartford Life, Inc., as Co-Chief Operating Officer of Hartford Life Insurance Company (2007-2008) and as Executive Vice President and Director of its Investment Products Division (2000-2008). Mr. Walters also serves as Chairman of the Board, Chief Executive Officer, President and Director of Hartford Life Insurance Company and as Executive Vice President of The Hartford. In addition, Mr. Walters is Manager of HL Investment Advisors, LLC (“HL Advisors”).

* Mr. Walters previously served as President and Chief Executive Officer of the Fund (2007 – 2009).

Other Officers

Robert M. Arena, Jr. (1968) President and Chief Executive Officer since 2009 (served as Vice President of the Fund (2006 – 2009))Mr. Arena serves as Executive Vice President of Hartford Life Insurance Company, (“Hartford Life”). Additionally, Mr. Arena is Director and Senior Vice President of Hartford Administrative Services Company, (“HASCO”), Manager, Chief Executive Officer and President of Hartford Investment Financial Services, LLC (“HIFSCO”) and HL Advisors. Prior to joining The Hartford in 2004, he was Senior Vice President in charge of Product Management for American Skandia/Prudential in the individual annuities division. Mr. Arena joined American Skandia in 1996.

Tamara L. Fagely (1958) Vice President, Treasurer and Controller since 2002 (MF) 1993 (MF2)

Ms. Fagely has been a Vice President of HASCO since 1998 and Chief Financial Officer since 2006. Currently Ms. Fagely is a Vice President of Hartford Life. She served as Assistant Vice President of Hartford Life from December 2001 through March 2005. In addition, Ms. Fagely is Controller and Chief Financial Officer of HIFSCO.

Brian Ferrell (1962) AML Compliance Officer since 2008

Mr. Ferrell has served as Assistant Vice President and AML Compliance Officer for The Hartford since 2006 and as AML Compliance Officer for HASCO and Hartford Investor Services Company, LLC (“HISC”) since 2008. Prior to joining The Hartford in 2006, Mr. Ferrell held various positions at the U.S. Department of the Treasury, (the “Treasury”), from 2001 to 2006 where he served as Chief Counsel for the Treasury’s Financial Crimes Enforcement Network, (“FinCEN”) from 2005 – 2006.

17

The Hartford Target Retirement 2040 Fund

Directors and Officers (Unaudited) – (continued)

Thomas D. Jones, III (1965) Vice President and Chief Compliance Officer since 2006

Mr. Jones serves as Chief Compliance Officer for the Hartford Mutual Funds and Vice President and Director of Securities Compliance for The Hartford. He is also Vice President of HIFSCO, HL Advisors, and Hartford Life Insurance Company. Mr. Jones joined The Hartford in 2006 from SEI Investments, where he served as Chief Compliance Officer for its mutual funds and investment advisers. Prior to joining SEI, Mr. Jones was First Vice President and Compliance Director for Merrill Lynch Investment Managers (Americas) (“MLIM”), where he worked from 1992-2004. At MLIM, Mr. Jones was responsible for the compliance oversight of various investment products, including mutual funds, wrap accounts, institutional accounts and alternative investments.

Edward P. Macdonald (1967) Vice President, Secretary and Chief Legal Officer since 2005

Mr. Macdonald serves as Assistant General Counsel and Assistant Vice President of The Hartford and Chief Legal Officer and Vice President of HIFSCO. He also serves as Vice President and Secretary of HASCO, Assistant Vice President of Hartford Life, and Chief Legal Officer, Secretary and Vice President of HL Advisors. Prior to joining The Hartford in 2005, Mr. Macdonald was Chief Counsel, Investment Management for Prudential Financial (formerly American Skandia Investment Services, Inc.). He joined Prudential in April 1999.

Vernon J. Meyer (1964) Vice President since 2006

Mr. Meyer serves as Senior Vice President of Hartford Life and as Director of its Investment Advisory Group in the Individual Markets Group segment. He also serves as Senior Vice President of HIFSCO and HL Advisors. Prior to joining The Hartford in 2004, Mr. Meyer was with MassMutual which he joined in 1987.

D. Keith Sloane (1960) Vice President since 2009

Mr. Sloane is a Senior Vice President of Hartford Life where he serves as Director of mutual fund product management for The Hartford’s mutual funds and 529 college savings businesses. Additionally, Mr. Sloane currently serves as Senior Vice President of HIFSCO, HL Advisors, and HASCO. Prior to joining The Hartford in 2007, Mr. Sloane was Director of product marketing and led the mutual fund business for Wachovia Securities (“Wachovia”) in their investment products group. Mr. Sloane joined Wachovia in 1995.

Jane Wolak (1961) Vice President since 2009

Ms. Wolak currently serves as Vice President of Hartford Life. Ms. Wolak joined Hartford Life as Vice President, Retail Product Services in May 2007. She is also Vice President of HASCO. Previously, Ms. Wolak was with Sun Life Financial where she held the position of Vice President, Service Center Operations from 2001 – 2007.

HOW TO OBTAIN A COPY OF THE FUND’S PROXY VOTING POLICIES AND VOTING RECORDS

A description of the policies and procedures that the Fund uses to determine how to vote proxies relating to portfolio securities and a record of how the Fund voted any proxies for the twelve-month period ended June 30, 2008 is available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov.

QUARTERLY PORTFOLIO HOLDINGS INFORMATION

The Fund files a complete schedule of portfolio holdings with the Commission for the first and third quarters of each fiscal year on Form N-Q. The Fund’s Forms are available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov. The Form N-Q may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330.

18

The Hartford Target Retirement 2040 Fund

Expense Example (Unaudited)

Your Fund’s Expenses

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments and contingent deferred sales charges (CDSC) (2) ongoing costs including management fees; distribution fees; and other fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the period of October 31, 2008 through April 30, 2009.

Actual Expenses

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

Hypothetical Example for Comparison Purposes

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

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads) and CDSC. Therefore, the second line 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 are equal to the Fund’s annualized expense ratios multiplied by average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

	Actual return						Hypothetical (5% return before expenses)
					Expenses paid						Expenses paid					Days in
					during the period					��	during the period					the		Days
	Beginning		Ending Account		October 31, 2008		Beginning		Ending Account		October 31,		Annualized			current		in the
	Account Value		Value		through		Account Value		Value		2008 through		expense			1/2		full
	October 31, 2008		April 30, 2009		April 30, 2009		October 31, 2008		April 30, 2009		April 30, 2009		ratio			year		year
Class R3	$	1,000.00	$	970.87	$	1.66	$	1,000.00	$	1,023.10	$	1.70		0.34	%		181		365
Class R4	$	1,000.00	$	971.34	$	0.19	$	1,000.00	$	1,024.59	$	0.20		0.04			181		365
Class R5	$	1,000.00	$	972.43	$	—	$	1,000.00	$	1,024.79	$	—		—			181		365

19

The Hartford Target Retirement 2045 Fund

Table of Contents

Manager Discussions (Unaudited)	2
Financial Statements
Schedule of Investments at April 30, 2009 (Unaudited)	4
Statement of Assets and Liabilities at April 30, 2009 (Unaudited)	5
Statement of Operations for the Six Month Period Ended April 30, 2009 (Unaudited)	6
Statement of Changes in Net Assets for the Six Month Period Ended April 30, 2009 (Unaudited) and the Year Ended October 31, 2008	7
Notes to Financial Statements (Unaudited)	8
Financial Highlights (Unaudited)	15
Directors and Officers (Unaudited)	16
How to Obtain a Copy of the Fund’s Proxy Voting Policies and Proxy Voting Records (Unaudited)	18
Quarterly Portfolio Holdings Information (Unaudited)	18
Expense Example (Unaudited)	19

The Hartford Target Retirement 2045 Fund
(subadvised by Hartford Investment Management Company)

Performance Overview(1) 10/31/08 — 4/30/09
Growth of a $10,000 investment in Class R3

Barclays Capital U.S. Aggregate Bond Index is an unmanaged index and is composed of securities from the Barclays Capital Government/Credit Bond Index, Mortgage-Backed Securities Index, Asset-Backed Securities Index and Commercial Mortgage-Backed Securities Index.

S&P 500 Index is a market capitalization weighted price index composed of 500 widely held common stocks.

You cannot invest directly in an index.

Investment objective — Seeks to maximize total return and secondarily, to seek capital preservation.

Average Annual Total Returns(2) (as of 4/30/09)

	Inception		Since
	Date		Inception
Target Retirement 2045 R3		10/31/08		-3.26	%
Target Retirement 2045 R4		10/31/08		-3.11	%
Target Retirement 2045 R5		10/31/08		-3.10	%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)	Growth of a $10,000 investment in Classes R4 and R5 shares will vary from results seen above due to differences in the expenses charged to these share classes.
(2)	Total returns presented above were calculated using the Fund’s net asset value available to shareholders for sale or redemption of Fund shares on April 30, 2009, which excludes investment transactions as of this date.

The value of shares will fluctuate so that, when redeemed, shares may be worth more or less than their original cost. The chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.

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

Portfolio Managers
Hugh Whelan, CFA	Edward C. Caputo, CFA
Managing Director	Vice President

How did the Fund perform?

The Class R3 shares of The Hartford Target Retirement 2045 Fund returned -3.26% for the six-month period ended April 30, 2009. In comparison, its benchmarks, the S&P 500 Index and the Barclays Capital U.S. Aggregate Bond Index, returned -8.53% and 7.74%, respectively, while the average return of the Lipper Mixed-Asset Target 2045 Funds category, a group of funds with investment strategies similar to those of the Fund, was -3.78%.

Why did the Fund perform this way?

The U.S. recession continued to deepen during the six-month period under review. Rising unemployment weighed on personal income and spending, while first quarter industrial production posted the steepest quarterly decline in more than 30 years. However, as the six-month period drew to a close, there were some signs that perhaps the rate of economic decline was beginning to slow. Financial conditions stabilized a bit, while the Federal Reserve’s purchases of long-term Treasuries and mortgage-backed securities also provided strong support for the mortgage market, driving fixed mortgage rates lower. Generally, the Fund’s target asset allocation is set at approximately 95% equities and 5% fixed-income.

This environment initially created another difficult period for stocks, with the S&P 500 Index closing at a new low of 676.53 on March 9, down -29.30% since the start of the 6-month period. However, emergent signs of a slowdown in the economy’s free-fall helped lift the index through the remainder of the period, leaving it down -8.53% for the period. The index was in the black in March and April, gaining

2

8.76% and 9.57%, respectively, for a gain of 29.38% from March 9 through the end of the period. Declines were widespread across most equity asset classes during the six-month period. Among the eleven equity asset classes in our investment universe, emerging market stocks, EAFE small cap stocks, and U.S. midcap growth stock indices posted positive returns over the 6-month period. U.S. Real-Estate Investment Trusts (REITS) led the way lower during the period, while growth stocks continued to outperform value stocks across all market capitalization levels. International stocks outperformed U.S. stocks.

In fixed income, five and ten year Treasury yields increased during the 6-month period. Within the major sectors of the Barclays Capital U.S. Aggregate Bond Index, investment grade credit was the top performer at 11.47%, while commercial mortgage backed securities (CMBS) were the weakest performer at 1.32%. In the high yield asset classes, high yield bonds and emerging markets debt both outperformed the Barclays Capital U.S. Aggregate Bond Index, while floating rate notes did not. In addition, Treasury Inflation-Protection Securities (TIPS) were the best performing investment grade asset class in our investment universe at 9.46%.

There are two main drivers of the Fund’s performance: asset allocation among various asset classes and performance of the underlying funds. With regard to asset allocation, the Fund maintains relatively fixed exposures to the equity and fixed income markets. Therefore, we seek to add value by strategically allocating within the equity and fixed income investment sub asset classes. Our asset allocation decisions over the period improved the Fund’s performance.

Concerning the Fund’s equity exposure, favorable allocations to emerging market stocks and international small cap stocks helped offset unfavorable allocations to U.S. stocks. By design, the Fund also maintains exposure to various fixed income asset classes to deliver a well diversified portfolio solution. The Fund also benefited from its allocation to TIPS. Based on the risk preferences of the Fund’s mandate, the portfolio’s duration (a measure of a bond’s sensitivity to changes in interest rates) is targeted to be greater than the Barclays Capital U.S. Aggregate Bond Index. The Fund benefited from the longer duration positioning.

Beyond the asset allocation decision, we also seek to add value by selecting the underlying mutual funds that will most effectively deliver the target asset class exposures. We analyze all of the funds in our investment universe, looking through each fund’s objectives and stated benchmark to see what it actually holds and how it behaves. During the period, underlying fund selection detracted from our overall performance.

During the period, the Fund continued to utilize Exchange-Traded Funds (ETFs) to obtain asset class exposures otherwise unavailable through The Hartford family of funds. Specifically, the Fund has target allocations to ETFs that provide U.S. real estate and international real estate exposure, as well as emerging market debt exposure.

Whenever possible, we rely on cash flows to execute our allocation changes. That was the case during the six-month period ended April 30^th, and no hard rebalance (i.e. a fund rebalancing to move the underlying fund investments to their target allocation percentages) was required.

What is the outlook?

In fixed income, risk premiums (the additional compensation paid to investors to tolerate the increased level of risk in a given asset class relative to Treasuries) across most asset classes reversed course and began to contract as conditions improved and volatility declined. An onslaught of government policy, from fiscal stimulus to quantitative easing, was the primary catalyst and buyers of historically inexpensive corporate debt emerged as more market participants recognized relative value versus equities. Although risk premiums have come off their historical peak, spreads remain significantly wider (i.e. short and long term interest rates farther apart) than in prior recessions.

In equities the earnings picture is cloudy. First, earnings are falling at near record-breaking rates and all indications are that they will continue to fall. Second, the quality and reliability of the earnings reported is lower than historical standards as the gap between pro forma (“street”) earnings and GAAP (Generally Accepted Accounting Principles) earnings rose in the past several months. Third, there is little clarity in future earnings prospects as the disparity among analyst estimates for future earnings remains at elevated levels. Historically, such consensus building was a precondition to the final, sustained recovery from bear markets associated with recessions.

That said, we believe that investors are well served by adhering to a strategic, diversified portfolio and rebalancing accordingly. We construct these portfolios based upon the long-term properties of asset classes. We look at their long-term returns, volatilities, and correlations between each other and run optimizations to build an optimal portfolio.

Composition by Underlying Fund
as of April 30, 2009

	Percentage of Net
Fund Name	Assets
SPDR DJ Wilshire International Real Estate ETF		2.2	%
SPDR DJ Wilshire REIT ETF		1.5
The Hartford Capital Appreciation Fund, Class Y		20.6
The Hartford Capital Appreciation II Fund, Class Y		3.4
The Hartford Fundamental Growth Fund, Class Y		5.5
The Hartford Global Growth Fund, Class Y		3.3
The Hartford Growth Fund, Class Y		9.1
The Hartford Growth Opportunities Fund, Class Y		3.1
The Hartford Inflation Plus Fund, Class Y		4.3
The Hartford International Opportunities Fund, Class Y		7.5
The Hartford International Small Company Fund, Class Y		5.2
The Hartford Select SmallCap Value Fund, Class Y		3.5
The Hartford Small Company Fund, Class Y		8.1
The Hartford Total Return Bond Fund, Class Y		0.8
The Hartford Value Fund, Class Y		20.9
Other Assets and Liabilities		1.0
Total		100.0	%

3

The Hartford Target Retirement 2045 Fund

Schedule of Investments
April 30, 2009 (Unaudited)
(000’s Omitted)

Shares or Principal Amount					Market Value ╪
AFFILIATED INVESTMENT COMPANIES - 95.3%
EQUITY FUNDS - 90.2%
	24	The Hartford Capital Appreciation Fund, Class Y			$	598
	11	The Hartford Capital Appreciation II Fund, Class Y •				99
	21	The Hartford Fundamental Growth Fund, Class Y •				160
	9	The Hartford Global Growth Fund, Class Y •				95
	22	The Hartford Growth Fund, Class Y •				263
	5	The Hartford Growth Opportunities Fund, Class Y •				90
	22	The Hartford International Opportunities Fund, Class Y				219
	19	The Hartford International Small Company Fund, Class Y				151
	15	The Hartford Select SmallCap Value Fund, Class Y				102
	18	The Hartford Small Company Fund, Class Y •				235
	75	The Hartford Value Fund, Class Y				608
		Total equity funds (cost $2,731)			$	2,620
FIXED INCOME FUNDS - 5.1%
	12	The Hartford Inflation Plus Fund, Class Y			$	124
	2	The Hartford Total Return Bond Fund, Class Y				24
		Total fixed income funds (cost $137)			$	148
		Total investments in affiliated investment companies (cost $2,868)			$	2,768
EXCHANGE TRADED FUNDS - 3.7%
	3	SPDR DJ Wilshire International Real Estate ETF			$	65
	1	SPDR DJ Wilshire REIT ETF				43
		Total exchange traded funds (cost $131)			$	108
		Total long-term investments (cost $2,999)			$	2,876
		Total investments (cost $2,999) ▲	99.0	%	$	2,876
		Other assets and liabilities	1.0	%		29
		Total net assets	100.0	%	$	2,905

Note:	Percentage of investments as shown is the ratio of the total market value to total net assets.
▲	At April 30, 2009, the cost of securities for federal income tax purposes was $2,999 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	17
Unrealized Depreciation		(140	)
Net Unrealized Depreciation	$	(123	)

•	Currently non-income producing.
╪	See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of securities.

FAS 157 Disclosure of Investment Valuation Hierarchy Levels

Assets:
Investment in securities — Level 1	$	2,876
Total	$	2,876

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

4

The Hartford Target Retirement 2045 Fund

Statement of Assets and Liabilities
April 30, 2009 (Unaudited)
(000’s Omitted)

Assets:
Investments in securities, at fair value (cost $131)	$	108
Investments in underlying affiliated funds, at fair value (cost $2,868)		2,768
Receivables:
Fund shares sold		—
Dividends and interest		—
Other assets		32
Total assets		2,908
Liabilities:
Payables:
Investment management fees		—
Distribution fees		—
Accrued expenses		3
Total liabilities		3
Net assets	$	2,905
Summary of Net Assets:
Capital stock and paid-in-capital		3,033
Accumulated undistributed net investment income		—
Accumulated net realized loss on investments		(5	)
Unrealized depreciation of investments		(123	)
Net assets	$	2,905
Shares authorized		150,000
Par value	$	0.001
Class R3: Net asset value per share	$	9.56
Shares outstanding		101
Net assets	$	967
Class R4: Net asset value per share	$	9.57
Shares outstanding		101
Net assets	$	969
Class R5: Net asset value per share	$	9.57
Shares outstanding		101
Net assets	$	969

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

5

The Hartford Target Retirement 2045 Fund

Statement of Operations
From (commencement of operations) October 31, 2008 through April 30, 2009 (Unaudited)
(000’s Omitted)

Investment Income:
Dividends	$	3
Dividends from underlying affiliated funds		33
Total investment income		36
Expenses:
Investment management fees		2
Transfer agent fees		—
Distribution fees
Class R3		2
Class R4		1
Custodian fees		—
Accounting services		—
Registration and filing fees		18
Board of Directors’ fees		—
Audit fees		3
Other expenses		4
Total expenses (before waivers)		30
Expense waivers		(27	)
Total waivers		(27	)
Total expenses, net		3
Net investment income		33
Net Realized Loss on Investments:
Net realized loss on investments in underlying affiliated funds		(5	)
Net realized gain on investments in securities		—
Net Realized Loss on Investments		(5	)
Net Changes in Unrealized Depreciation of Investments:
Net unrealized depreciation of investments		(123	)
Net Changes in Unrealized Depreciation of Investments		(123	)
Net Loss on Investments		(128	)
Net Decrease in Net Assets Resulting from Operations	$	(95	)

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

6

The Hartford Target Retirement 2045 Fund

Statement of Changes in Net Assets
(000’s Omitted)

	For the Period
	October 31, 2008**
	through
	April 30, 2009
Operations:
Net investment income	$	33
Net realized loss on investments		(5	)
Net unrealized depreciation of investments		(123	)
Net decrease in net assets resulting from operations		(95	)
Distributions to Shareholders:
From net investment income
Class R3		(11	)
Class R4		(11	)
Class R5		(11	)
Total distributions		(33	)
Capital Share Transactions:
Class R3		1,011
Class R4		1,011
Class R5		1,011
Net increase from capital share transactions		3,033
Net increase in net assets		2,905
Net Assets:
Beginning of period		—
End of period	$	2,905
Accumulated undistributed net investment income	$	—

^** Commencement of operations.

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

7

The Hartford Target Retirement 2045 Fund

Notes to Financial Statements
April 30, 2009 (Unaudited)
(000’s Omitted)

1.	Organization:
	The Hartford Mutual Funds, Inc. (“Company”) is an open-end management investment company comprised of fifty-two portfolios. Financial statements for The Hartford Target Retirement 2045 Fund (the “Fund”), a series of the Company, are included in this report.
	The Company is organized under the laws of the State of Maryland and is registered with the Securities and Exchange Commission (“SEC”) under the Investment Company Act of 1940, as amended (“1940 Act”). The Fund is a diversified open-end management investment company.
	Classes R3, R4, R5 shares, which are offered to employer-sponsored retirement plans, are sold without a sales charge. All classes of shares have identical voting, redemption, dividend, liquidation and other rights and the same terms and conditions, with the exceptions that each class may have different expenses, which may affect performance.
	The Fund, as a “Fund of Funds”, invests the majority of its assets in Class Y shares of other Hartford mutual funds (“Underlying Funds”) as well as certain exchange-traded funds (“ETFs”). The Fund seeks its investment goals through implementation of a strategic asset allocation recommendation provided by Hartford Investment Management Company (“Hartford Investment Management”), a wholly-owned indirect subsidiary of The Hartford Financial Services Group, Inc. (“The Hartford”).

2.	Significant Accounting Policies:
	The accounting policies of the affiliated underlying funds are outlined in the shareholder reports for such funds, available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov. The reports may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330. The affiliated underlying funds are not covered by this report.
	The following is a summary of significant accounting policies of the Fund, which are in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”).

a)	Security Transactions and Investment Income - Security transactions are recorded on the trade date (the date the order to buy or sell is executed). Security gains and losses are determined on the basis of identified cost.
	Dividend income is accrued as of the ex-dividend date. Income and capital gain distributions from Underlying Funds are recorded on the ex-dividend date.
b)	Security Valuation - Investments in open-end mutual funds are valued at the respective NAV of each open-end mutual fund on the valuation date.
	The Fund generally uses market prices in valuing portfolio securities. If market prices are not readily available or are deemed unreliable, the Fund will use the fair value of the security as determined in good faith under policies and procedures established by and under the supervision of the Fund’s Board of Directors. Market prices may be deemed unreliable, for example, if a security is thinly traded or if an event has occurred after the close of the security’s primary markets, but before the close of the New York Stock Exchange (the “Exchange”) (normally 4:00 p.m. Eastern Time, referred to as the “Valuation Time”) that is expected to affect the value of the portfolio security. The circumstances in which the Fund may use fair value pricing include, among others: (i) the occurrence of events that are significant to a particular issuer, such as mergers, restructuring or defaults; (ii) the occurrence of events that are significant to an entire market, such as natural disasters in a particular region or governmental actions; (iii) trading restrictions on securities; (iv) thinly traded securities and (v) market events such as trading halts and early market closings. In addition, with respect to

8

the valuation of stocks primarily traded on foreign markets, the Fund uses a fair value pricing service approved by the Fund’s Board of Directors, which employs quantitative models that evaluate changes in the value of foreign market proxies (e.g., futures contracts, ADR’s, exchange traded funds (“ETF’s”)) after the close of the foreign markets but before the close of the Exchange. Securities that are primarily traded on foreign markets may trade on days that are not business days of the Fund. The value of the foreign securities in which the Fund invests may change on days when a shareholder will not be able to purchase or redeem shares of the Fund. Fair value pricing is subjective in nature and the use of fair value pricing by the Fund may cause the NAV of its shares to differ significantly from the NAV that would have been calculated using market prices at the close of the exchange on which a portfolio security is primarily traded but before the close of the Exchange. There can be no assurance that the Fund could obtain the fair value assigned to a security if the Fund were to sell the security at approximately the time at which the Fund determines its NAV.

Debt securities (other than short-term obligations and senior floating rate interests) held by the Fund are valued on the basis of valuations furnished by an independent pricing service which determines valuations for normal institutional size trading units of debt securities. Senior floating rate interests generally trade in over-the-counter markets and are priced through an independent pricing service utilizing independent market quotations from loan dealers or financial institutions. Securities for which prices are not available from an independent pricing service are valued using market quotations obtained from one or more dealers that make markets in the securities in accordance with procedures established by the Fund’s Board of Directors. Generally, the Fund may use fair valuation in regard to debt securities when the Fund holds defaulted or distressed securities or securities in a company in which a reorganization is pending. Short-term investments with a maturity of more than 60 days when purchased are valued based on market quotations until the remaining days to maturity become less than 61 days. Investments that mature in 60 days or less are valued at amortized cost, which approximates market value.

Exchange traded equity securities shall be valued at the last reported sale price on the exchange or market on which the security is primarily traded (the “Primary Market”) at the Valuation Time. If the security did not trade on the Primary Market, it may be valued at the Valuation Time at the last reported sale price on another exchange where it trades. The value of an equity security not traded on any exchange but traded on the Nasdaq Stock Market, Inc. (“Nasdaq”) or another over-the-counter market shall be valued at the last reported sale price or official closing price on the exchange or market on which the security is traded as of the Valuation Time. If it is not possible to determine the last reported sale price or official closing price on the relevant exchange or market at the Valuation Time, the value of the security shall be taken to be the most recent mean between bid and asked prices on such exchange or market at the Valuation Time.

Securities of foreign issuers and non-dollar securities are translated from the local currency into U.S. dollars using prevailing exchange rates.

Options contracts on securities, currencies, indexes, futures contracts, commodities and other instruments shall be valued at their most recent sales price at the Valuation Time on the Primary Market on which the instrument is primarily traded. If the instrument did not trade on the Primary Market, it may be valued at the most recent sales price at the Valuation Time on another exchange or market where it did trade.

Futures contracts are valued at the most recent settlement price reported by an exchange on which, over time, they are traded most extensively. If a settlement price is not available, futures contracts will be valued at the most recent trade price as of the Valuation Time. If there were no trades, the contract shall be valued at the mean of the closing bid/ask prices as of the Valuation Time.

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

A forward currency contract shall be valued based on the price of the underlying currency at the prevailing interpolated exchange rate, which is a combination of the spot currency rate and the forward currency rate. Spot currency rates and

9

The Hartford Target Retirement 2045 Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

	forward currency rates are obtained from an independent pricing service on a daily basis not more than one hour before the Valuation Time.
	Swaps are valued based on custom valuations furnished by an independent pricing service. Swaps for which prices are not available from an independent pricing service are valued in accordance with procedures established by the Fund’s Board of Directors.
	Other derivative or contractual type instruments shall be valued using market prices if such instruments trade on an exchange or market. If such instruments do not trade on an exchange or market, such instruments shall be valued at a price at which the counterparty to such contract would repurchase the instrument. In the event that the counterparty cannot provide a price, such valuation may be determined in accordance with procedures established by the Fund’s Board of Directors.
c)	Indexed Securities - The Fund may invest in indexed securities whose values are linked to changes in interest rates, indices, or other underlying instruments. The Fund uses these securities to increase or decrease its exposure to different underlying instruments and to gain exposure to markets that might be difficult to invest in using conventional securities. Indexed securities may be more volatile than their underlying instruments, but any loss is limited to the amount of the original investment and there may be a limit to the potential appreciation of the investment. The Fund had investments in indexed securities as of April 30, 2009, as shown on the Schedule of Investments under Exchange Traded Funds.
d)	Fund Share Valuation and Dividend Distributions to Shareholders — Orders for the Fund’s shares are executed in accordance with the investment instructions of the shareholders. The NAV of the Fund’s shares is determined as of the close of each business day of the Exchange. The NAV is determined separately for each class of the Fund by dividing the Fund’s net assets attributable to that class by the number of shares of the class outstanding. Orders for the purchase of the Fund’s shares prior to the close of the Exchange on any day on which the Exchange is open for business are priced at the NAV determined as of the close of the Exchange. Orders after the close of the Exchange, or on a day on which the Exchange and/or the Fund is not open for business, are priced at the next determined NAV.
	The Fund intends to distribute substantially all of its net investment income and net realized capital gains to shareholders no less frequently than once a year. Normally, dividends from net investment income of the Fund are declared and paid annually. Dividends are paid on shares beginning on the business day after the day when the funds used to purchase the shares are collected by the transfer agent for the Fund. Long-term capital gains distributions received from underlying funds are distributed at least annually, when required. Unless shareholders specify otherwise, all dividends and distributions will be automatically reinvested in additional full or fractional shares of the Fund.
	Distributions from net investment income, realized capital gains and capital are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP with respect to character and timing. These differences include but are not limited to foreign currency gains and losses, losses deferred due to wash sales adjustments, adjustments related to Passive Foreign Investment Companies and certain derivatives, and excise tax regulations. Permanent book and federal income tax basis differences relating to shareholder distributions will result in reclassifications to certain of the Fund’s capital accounts (see Federal Income Taxes: Reclassification of Capital Accounts footnote).
e)	Use of Estimates — The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and the reported amounts of income and expenses during the period. Operating results in the future could vary from the amounts derived from management’s estimates.

10

f)

Financial Accounting Standards Board Financial Accounting Standards No. 157 - Effective November 1, 2008, the Fund adopted Financial Accounting Standards Board (“FASB”) Statement of Financial Accounting Standards No. 157, “Fair Value Measurements” (“FAS 157”). This standard clarifies the definition of fair value for financial reporting, establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements. Fair value is defined under FAS 157 as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Under FAS 157, a fair value measurement should reflect all of the assumptions that market participants would use in pricing the asset or liability, including assumptions about the risk inherent in a particular valuation technique, the effect of a restriction on the sale or use of an asset, and the risk of nonperformance.

Various inputs are used in determining the value of the Fund’s investment. These inputs are summarized, per FAS 157, into three broad hierarchy levels. This hierarchy is based on whether the valuation inputs are observable or unobservable. These levels are:

• Level 1 — Quoted prices in active markets for identical securities. Level 1 includes exchange-traded instruments such as domestic equities, some foreign equities, options, futures, mutual funds, ETF’s, and rights and warrants.

• Level 2 — Observable inputs other than Level 1 prices, such as quoted prices for similar securities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the security. Level 2 includes debt securities that are traded less frequently than exchange-traded instruments and that are valued using third party pricing services and foreign equities, whose value is determined using a multi-factor regression model with inputs that are observable in the market; and money market instruments, which are carried at amortized cost.

• Level 3 — Significant unobservable inputs that are supported by little or no market activity. Level 3 includes financial instruments whose values are determined using broker quotes and require significant management judgment or estimation. This category includes broker quoted securities, long dated OTC options and securities where trading has been halted or there are certain restrictions on trading. While these securities are priced using unobservable inputs, the valuation of these securities reflects the best available data and management believes the prices are a good representation of exit price.

	Individual securities within any of the above mentioned asset classes may be assigned a different hierarchical level than those presented above, as individual circumstances dictate.
	FAS 157 also requires that a roll forward reconciliation be shown for all Level 3 securities from the beginning of the reporting period to the end of the reporting period. Part of this reconciliation includes transfers in and/or out of Level 3. For purposes of this reconciliation, transfers in are shown at the end of period fair value and transfers out are shown at the beginning of period fair value. During the six-month period ended April 30, 2009, the Fund held no Level 3 securities.
	FASB Staff Position No. 157-4 - In April 2009, FASB released FASB Staff Position No. 157-4, “Determining Fair Value When the Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly” (“FSP FAS 157-4”). FSP FAS 157-4 provides additional guidance on determining whether a market for a financial asset is not active and a transaction is not distressed when measuring fair value under FAS 157. The FSP also requires additional disclosure detail on debt and equity securities by major investment categories. FSP FAS 157-4 is effective for interim and annual periods ending after June 15, 2009. At this time, management is evaluating the implications of FSP FAS 157-4 and does not believe it will impact valuation but will require additional disclosure. This additional disclosure has not yet been implemented.
g)	Financial Accounting Standards Board Financial Accounting Standards No. 161 - In March 2008, the FASB released Statement of Financial Accounting Standards No. 161, “Disclosures about Derivative Instruments and Hedging Activities” (“FAS 161”). FAS 161 requires companies to disclose information detailing the objectives and strategies for using derivative instruments, the level of derivative activity entered into by the company and any credit risk-related contingent features of the agreements. The application of FAS 161 is required for fiscal years and interim periods

11

The Hartford Target Retirement 2045 Fund
Notes to Financial Statements — (continued) 
April 30, 2009 (Unaudited)
(000’s Omitted)

beginning after November 15, 2008. At this time, management is evaluating the implications of FAS 161 and has not yet implemented the new disclosure standard.

h)

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

3. Federal Income Taxes:

a)	Federal Income Taxes - For federal income tax purposes, the Fund intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code (“IRC”) by distributing substantially all of its taxable net investment income and net realized capital gains to its shareholders and otherwise complying with the requirements of regulated investment companies. The Fund has distributed substantially all of its income and capital gains in prior years and the Fund intends to distribute substantially all of its income and gains during the calendar year ending December 31, 2009. Accordingly, no provision for federal income or excise taxes has been made in the accompanying financial statements. Distributions from short-term capital gains are treated as ordinary income distributions for federal income tax purposes.
b)	Reclassification of Capital Accounts - In accordance with American Institute of Certified Public Accountants (AICPA) Statement of Position 93-2, Determination, Disclosure, and Financial Statement Presentation of Income, Capital Gain, and Return of Capital Distributions by Investment Companies, the Fund may record reclassifications in its capital accounts. These reclassifications have no impact on the NAV of the Fund. The reclassifications are a result of permanent differences between GAAP and tax accounting for such items as net operating losses that reduce distribution requirements. Adjustments are made to reflect the impact these items have on current and future distributions to shareholders. Therefore, the source of the Fund’s distributions may be shown in the accompanying Statement of Changes in Net Assets as from net investment income, from net realized gains on investments or from capital depending on the type of book and tax differences that exist. Reclassifications are made at fiscal year end and therefore, no reclassifications were made during the six-month period ended April 30, 2009.
c)	Financial Accounting Standards Board Interpretation No. 48 - On July 13, 2006, the FASB released FASB Interpretation No. 48 “Accounting for Uncertainty in Income Taxes” (“FIN 48”). FIN 48 provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. The Fund has adopted FIN 48. Management has evaluated the implications of FIN 48 for the Fund and has determined there is no impact to the Fund’s financial statements.

4. Expenses:

a) Investment Management Agreements - Hartford Investment Financial Services, LLC (“HIFSCO”) serves as investment manager to the Fund pursuant to an Investment Management Agreement with The Hartford Mutual Funds, Inc. As investment manager, HIFSCO has overall investment supervisory responsibility for the Fund. In addition, HIFSCO provides administrative personnel, services, equipment, facilities and office space for proper operation of the Fund. HIFSCO has contracted with Hartford Investment Management for the provision of day-to-day investment management services to the Fund in accordance with the Fund’s investment objective and policies. The Fund pays a fee to HIFSCO, a portion of which may be used to compensate Hartford Investment Management.

12

The schedule below reflects the rates of compensation paid to HIFSCO for investment management services rendered during the six-month period ended April 30, 2009; the rates are accrued daily and paid monthly:

Average Daily Net Assets	Annual Fee
On first $500 million		0.15	%
On next $4.5 billion		0.10	%
On next $5 billion		0.08	%
Over $10 billion		0.07	%

b) Accounting Services Agreement — Pursuant to the Fund Accounting Agreement between Hartford Life Insurance Company (“HLIC”) and the Fund, HLIC provides accounting services to the Fund and receives monthly compensation on the Fund’s average net assets. The Fund’s accounting service fees are accrued daily and paid monthly.

Average Daily Net Assets	Annual Fee
On first $5 billion		0.012	%
Over $5 billion		0.010	%

c) Operating Expenses - Allocable expenses incurred by the Company are allocated to each Fund and allocated to classes within the Fund in proportion to the average daily net assets of the Fund and each class, except where allocation of certain expenses is more fairly made directly to the Fund or to specific classes within a Fund. During the six-month period ended April 30, 2009, HIFSCO has contractually limited the total operating expenses of this Fund, exclusive of taxes, interest expense, brokerage commissions, certain distribution expenses and extraordinary expenses as follows:

Class R3	Class R4	Class R5
1.25%	0.95%	0.90%

	Voluntary limitations for total operating expenses include expenses incurred as the result of investing in other investment companies. Amounts incurred which exceed the above limits are deducted from expenses and are reported as waivers on the accompanying Statement of Operations.
d)	Distribution and Service Plan for Class R3 and R4 Shares - HIFSCO is the principal underwriter and distributor of the Fund. HIFSCO is engaged in distribution activities, which include marketing and distribution of shares through broker-dealers, financing distribution costs and maintaining financial books and records.
	The Fund has adopted Distribution and Service Plans in accordance with Rule 12b-1 of the Investment Company Act of 1940, as amended, to compensate the distributor (HIFSCO) for activities intended to result in the sale and distribution of Classes R3 and R4 shares and for providing services for shareholders. The Rule 12b-1 plan applicable to Class R3 shares provides for a distribution fee of 0.50%. The Rule 12b-1 plan applicable to Class R4 shares provides for a distribution fee of 0.25%. For Classes R3 and R4 shares, some or the entire fee may be remitted to broker dealers for distribution and/or shareholder account services. The Fund’s 12b-1 fees are accrued daily and paid monthly.
	For the six-month period ended April 30, 2009, total sales commissions paid to affiliated brokers/dealers of The Hartford for distributing the Fund’s shares rounds to zero. These commissions are in turn paid to sales representatives of the broker/dealers.
e)	Other Related Party Transactions - Certain officers of the Fund are directors and/or officers of HIFSCO, and/or The Hartford or its subsidiaries. For the six-month period ended April 30, 2009, a portion of the Fund’s chief compliance officer’s salary was paid by the Fund in an amount, which rounds to zero. Hartford Administrative Services Company (“HASCO”), a wholly owned subsidiary of The Hartford, provides transfer agent services to the Fund. HASCO was compensated an amount, which rounds to zero, for providing such services. These fees are accrued daily and paid monthly.

13

The Hartford Target Retirement 2045 Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

5.	Affiliate Holdings:
	As of April 30, 2009, affiliates of The Hartford had ownership of shares in the Fund as follows:

	Shares
Class R3		101
Class R4		101
Class R5		101

6.	Investment Transactions:
	For the six-month period ended April 30, 2009, the Fund’s aggregate purchases and sales of investment securities (excluding short-term investments) were as follows:

	Amount
Cost of Purchases Excluding U.S. Government Obligations	$	3,199
Sales Proceeds Excluding U.S. Government Obligations		195

7.	Capital Share Transactions:
	The following information is for the six-month period ended April 30, 2009.

	For the Six-Month Period Ended 4/30/2009
			Shares				Shares
			Issued for				Issued		Net Increase
	Shares		Reinvested		Shares		from		(Decrease) of
	Sold		Dividends		Redeemed		Merger		Shares
Class R3
Shares		100		1		—		—		101
Amount	$	1,000	$	11	$	—	$	—	$	1,011
Class R4
Shares		100		1		—		—		101
Amount	$	1,000	$	11	$	—	$	—	$	1,011
Class R5
Shares		100		1		—		—		101
Amount	$	1,000	$	11	$	—	$	—	$	1,011

8.

Line of Credit:

The Fund is one of several Hartford Funds that participate in a $500 million committed revolving line of credit facility. The facility is to be used for temporary or emergency purposes. Under the arrangement, the Fund is required to own securities having a market value in excess of 300% of the total bank borrowings. The interest rate on borrowings varies depending on the nature of the loan. The facility also requires a fee to be paid based on the amount of the commitment. During the six-month period ended April 30, 2009, the Fund did not have any borrowings under this facility.

14

The Hartford Target Retirement 2045 Fund

Financial Highlights — (Unaudited)

- Selected Per-Share Data - (a)

- Ratios and Supplemental Data -

Ratio of

Ratio of

Ratio of

Expenses

Expenses

Expenses

to Average

to Average

to Average

Net Assets

Net Assets

Net Assets

Before

After

After

Net

Waivers

Waivers

Waivers

Realized

and

and

and

Ratio of

and Un-

Distrib-

Net

Reimburse-

Reimburse-

Reimburse-

Net

Net

Pay-

realized

Dividends

utions

Increase

Net

Net

ments and

ments and

ments and

Invest-

Port-

Net Asset

Invest-

ments

Gain

from Net

from

Distri-

(Decrease)

Asset

Assets at

Including

Including

Excluding

ment

folio

Value at

ment

from

(Loss) on

Total from

Invest-

Realized

butions

Total

in Net

Value at

End of

Expenses

Expenses

Expenses

Income to

Turn-

Beginning

Income

(to)

Invest-

Investment

ment

Capital

from

Distri-

Asset

End of

Total

Period

not Subject

not Subject

not Subject

Average

over

Class

of Period

(Loss)

Affiliate

ments

Operations

Income

Gains

Capital

butions

Value

Period

Return(b)

(000’s)

to Cap(c)

to Cap(c)

to Cap(c)

Net Assets

Rate(d)

From (commencement of operations) October 31, 2008, through April 30, 2009 (Unaudited)

R3

$

10.00

$

0.10

$

—

$

(0.43

)

$

(0.33

)

$

(0.11

)

$

—

$

—

$

(0.11

)

$

(0.44

)

$

9.56

(3.26

)%(e)

$

967

2.50

%(f)

0.38

%(f)

0.38

%(f)

2.37

%(f)

9

%

R4

10.00

0.12

—

(0.44

)

(0.32

)

(0.11

)

—

—

(0.11

)

(0.43

)

9.57

(3.11

) (e)

969

2.20

(f)

0.08

(f)

0.08

(f)

2.67

(f)

—

R5

10.00

0.12

—

(0.44

)

(0.32

)

(0.11

)

—

—

(0.11

)

(0.43

)

9.57

(3.10

) (e)

969

1.91

(f)

0.03

(f)

0.03

(f)

2.72

(f)

—

(a)	Information presented relates to a share outstanding throughout the indicated period.
(b)	Assumes initial investment at net asset value at the beginning of each period, reinvestment of all distributions, the complete redemption of the investment at net asset value at the end of each period and no sales charge. Total return would be reduced if sales charges were taken into account.
(c)	Expense ratios do not include expenses of the underlying funds.
(d)	Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between the classes of shares issued.
(e)	Not annualized.
(f)	Annualized.

15

The Hartford Target Retirement 2045 Fund

Directors and Officers (Unaudited)

The Board of Directors appoints officers who are responsible for the day-to-day operations of the Fund and who execute policies formulated by the Directors. Each director serves until his or her death, resignation, or retirement or until the next annual meeting of shareholders is held or until his or her successor is elected and qualifies.

Directors and officers who are employed by or who have a financial interest in The Hartford are considered “interested” persons of the Fund pursuant to the Investment Company Act of 1940, as amended. Each officer and three of the Fund’s directors, as noted in the chart below, are “interested” persons of the Fund. Each director serves as a director for The Hartford Mutual Funds, Inc., The Hartford Mutual Funds II, Inc., The Hartford Income Shares Fund, Inc., Hartford Series Fund, Inc., and Hartford HLS Series Fund II, Inc., which collectively consist of 100 funds. Correspondence may be sent to directors and officers c/o Hartford Mutual Funds, P.O. Box 2999, Hartford, Connecticut 06104-2999, except that correspondence to Ms. Fagely may be sent to 500 Bielenberg Drive, Woodbury, Minnesota 55125.

The table below sets forth, for each director and officer, his or her name, year of birth, current position with the Fund and date first elected or appointed to The Hartford Mutual Funds, Inc. (“MF”) and The Hartford Mutual Funds II, Inc. (“MF2”), principal occupation, and, for directors, other directorships held. The Fund’s statement of additional information contains further information on the directors and is available free of charge by calling 1-888-843-7824 or writing to Hartford Mutual Funds, P.O. Box 64387, St. Paul, MN 55164-0387.

Information on the aggregate remuneration paid to the directors of the Fund can be found in the Statement of Operations herein. The Fund pays a portion of the Chief Compliance Officer’s compensation, but does not pay salaries or compensation to any of its officers or directors who are employed by The Hartford.

Non-Interested Directors

Lynn S. Birdsong (1946) Director since 2003, Co-Chairman of the Investment Committee

Mr. Birdsong is a private investor. Since 1981, Mr. Birdsong has been a partner in Birdsong Company, an advertising specialty firm. Since 2003, Mr. Birdsong has been an independent director of The Japan Fund. From 2003 to March 2005, Mr. Birdsong was an independent director of the Atlantic Whitehall Funds. From 1979 to 2002, Mr. Birdsong was a managing director of Zurich Scudder Investments, an investment management firm. During his employment with Scudder, Mr. Birdsong was an interested director of The Japan Fund.

Robert M. Gavin, Jr. (1940) Director since 2002 (MF) and 1986 (MF2), Chairman of the Board since 2004

Dr. Gavin is an educational consultant. Prior to September 1, 2001, he was President of Cranbrook Education Community and prior to July 1996, he was President of Macalester College, St. Paul, Minnesota.

Duane E. Hill (1945) Director since 2001 (MF) and 2002 (MF2), Chairman of the Nominating Committee

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

Sandra S. Jaffee (1941) Director since 2005

Ms. Jaffee is Chairman and Chief Executive Officer of Fortent (formerly Searchspace Group), a leading provider of compliance/regulatory technology to financial institutions. Ms. Jaffee served as an Entrepreneur in Residence with Warburg Pincus, a private equity firm, from August 2004 to August 2005. From September 1995 to July 2004, Ms. Jaffee served as Executive Vice President at Citigroup, where she was President and Chief Executive Officer of Citibank’s Global Securities Services (1995-2003).

William P. Johnston (1944) Director since 2005, Chairman of the Compliance Committee

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

16

Phillip O. Peterson (1944) Director since 2002 (MF) and 2000 (MF2), Chairman of the Audit Committee

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

Lemma W. Senbet (1946) Director since 2005

Dr. Senbet is the William E. Mayer Chair Professor of Finance at the University of Maryland, Robert H. Smith School of Business. He was chair of the Finance Department during 1998-2006. Previously he was an endowed professor of finance at the University of Wisconsin-Madison. Also, he was director of the Fortis Funds from March 2000-July 2002. Dr. Senbet served the finance profession in various capacities, including as director of the American Finance Association and President of the Western Finance Association. In 2006, Dr. Senbet was inducted Fellow of Financial Management Association International for his career-long distinguished scholarship and professional service.

Interested Directors and Officers

Thomas M. Marra* (1958) Director since 2002

Mr. Marra has served as President and Chief Operating Officer of The Hartford Financial Services Group, Inc. (“The Hartford”) since 2007. Mr. Marra currently serves as Director of Hartford Life, Inc. (“HL, Inc.”). Mr. Marra served as Chief Operating Officer of Hartford Life Insurance Company, Inc. (“Hartford Life”) (2000-2008), as President of Hartford Life (2002-2008) and as Director of Hartford Life’s Investment Products Division from 1998 to 2000.

* On February 24, 2009, The Hartford and Mr. Marra determined to enter into a mutually agreed separation whereby Mr. Marra will retire, and his role as an executive officer and employee of The Hartford will terminate, effective July 3, 2009. Mr. Marra will resign his position as a Director of the Fund effective June 25, 2009.

Lowndes A. Smith (1939) Director since 2002, Co-Chairman of the Investment Committee

Mr. Smith served as Vice Chairman of The Hartford from February 1997 to January 2002, as President and Chief Executive Officer of Hartford Life, Inc. from February 1997 to January 2002, and as President and Chief Operating Officer of The Hartford Life Insurance Companies from January 1989 to January 2002. Mr. Smith serves as a Director of White Mountains Insurance Group, Ltd., One Beacon Insurance, Symetra Financial and as a Managing Director of Whittington Gray Associates.

John C. Walters* (1962) Director since 2008

Mr. Walters currently serves as Chief Executive Officer, President and Director of HL, Inc. Mr. Walters previously served as President of the U.S. Wealth Management Division of Hartford Life, Inc., as Co-Chief Operating Officer of Hartford Life Insurance Company (2007-2008) and as Executive Vice President and Director of its Investment Products Division (2000-2008). Mr. Walters also serves as Chairman of the Board, Chief Executive Officer, President and Director of Hartford Life Insurance Company and as Executive Vice President of The Hartford. In addition, Mr. Walters is Manager of HL Investment Advisors, LLC (“HL Advisors”).

* Mr. Walters previously served as President and Chief Executive Officer of the Fund (2007 — 2009).

Other Officers

Robert M. Arena, Jr. (1968) President and Chief Executive Officer since 2009 (served as Vice President of the Fund (2006 — 2009))

Mr. Arena serves as Executive Vice President of Hartford Life Insurance Company, (“Hartford Life”). Additionally, Mr. Arena is Director and Senior Vice President of Hartford Administrative Services Company, (“HASCO”), Manager, Chief Executive Officer and President of Hartford Investment Financial Services, LLC (“HIFSCO”) and HL Advisors. Prior to joining The Hartford in 2004, he was Senior Vice President in charge of Product Management for American Skandia/Prudential in the individual annuities division. Mr. Arena joined American Skandia in 1996.

Tamara L. Fagely (1958) Vice President, Treasurer and Controller since 2002 (MF) 1993 (MF2)

Ms. Fagely has been a Vice President of HASCO since 1998 and Chief Financial Officer since 2006. Currently Ms. Fagely is a Vice President of Hartford Life. She served as Assistant Vice President of Hartford Life from December 2001 through March 2005. In addition, Ms. Fagely is Controller and Chief Financial Officer of HIFSCO.

Brian Ferrell (1962) AML Compliance Officer since 2008

Mr. Ferrell has served as Assistant Vice President and AML Compliance Officer for The Hartford since 2006 and as AML Compliance Officer for HASCO and Hartford Investor Services Company, LLC (“HISC”) since 2008. Prior to joining The Hartford in 2006, Mr. Ferrell held various positions at the U.S. Department of the Treasury, (the “Treasury”), from 2001 to 2006 where he served as Chief Counsel for the Treasury’s Financial Crimes Enforcement Network, (“FinCEN”) from 2005 — 2006.

17

The Hartford Target Retirement 2045 Fund
Directors and Officers (Unaudited) — (continued)

Thomas D. Jones, III (1965) Vice President and Chief Compliance Officer since 2006

Mr. Jones serves as Chief Compliance Officer for the Hartford Mutual Funds and Vice President and Director of Securities Compliance for The Hartford. He is also Vice President of HIFSCO, HL Advisors, and Hartford Life Insurance Company. Mr. Jones joined The Hartford in 2006 from SEI Investments, where he served as Chief Compliance Officer for its mutual funds and investment advisers. Prior to joining SEI, Mr. Jones was First Vice President and Compliance Director for Merrill Lynch Investment Managers (Americas) (“MLIM”), where he worked from 1992-2004. At MLIM, Mr. Jones was responsible for the compliance oversight of various investment products, including mutual funds, wrap accounts, institutional accounts and alternative investments.

Edward P. Macdonald (1967) Vice President, Secretary and Chief Legal Officer since 2005

Mr. Macdonald serves as Assistant General Counsel and Assistant Vice President of The Hartford and Chief Legal Officer and Vice President of HIFSCO. He also serves as Vice President and Secretary of HASCO, Assistant Vice President of Hartford Life, and Chief Legal Officer, Secretary and Vice President of HL Advisors. Prior to joining The Hartford in 2005, Mr. Macdonald was Chief Counsel, Investment Management for Prudential Financial (formerly American Skandia Investment Services, Inc.). He joined Prudential in April 1999.

Vernon J. Meyer (1964) Vice President since 2006

Mr. Meyer serves as Senior Vice President of Hartford Life and as Director of its Investment Advisory Group in the Individual Markets Group segment. He also serves as Senior Vice President of HIFSCO and HL Advisors. Prior to joining The Hartford in 2004, Mr. Meyer was with MassMutual which he joined in 1987.

D. Keith Sloane (1960) Vice President since 2009

Mr. Sloane is a Senior Vice President of Hartford Life where he serves as Director of mutual fund product management for The Hartford’s mutual funds and 529 college savings businesses. Additionally, Mr. Sloane currently serves as Senior Vice President of HIFSCO, HL Advisors, and HASCO. Prior to joining The Hartford in 2007, Mr. Sloane was Director of product marketing and led the mutual fund business for Wachovia Securities (“Wachovia”) in their investment products group. Mr. Sloane joined Wachovia in 1995.

Jane Wolak (1961) Vice President since 2009

Ms. Wolak currently serves as Vice President of Hartford Life. Ms. Wolak joined Hartford Life as Vice President, Retail Product Services in May 2007. She is also Vice President of HASCO. Previously, Ms. Wolak was with Sun Life Financial where she held the position of Vice President, Service Center Operations from 2001 — 2007.

HOW TO OBTAIN A COPY OF THE FUND’S PROXY VOTING POLICIES AND VOTING RECORDS

A description of the policies and procedures that the Fund uses to determine how to vote proxies relating to portfolio securities and a record of how the Fund voted any proxies for the twelve-month period ended June 30, 2008 is available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov.

QUARTERLY PORTFOLIO HOLDINGS INFORMATION

The Fund files a complete schedule of portfolio holdings with the Commission for the first and third quarters of each fiscal year on Form N-Q. The Fund’s Forms are available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov. The Form N-Q may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330.

18

The Hartford Target Retirement 2045 Fund

Expense Example (Unaudited)

Your Fund’s Expenses

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments and contingent deferred sales charges (CDSC) (2) ongoing costs including management fees; distribution fees; and other fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the period of October 31, 2008 through April 30, 2009.

Actual Expenses

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

Hypothetical Example for Comparison Purposes

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

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads) and CDSC. Therefore, the second line 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 are equal to the Fund’s annualized expense ratios multiplied by average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

	Actual return						Hypothetical (5% return before expenses)
					Expenses paid						Expenses paid					Days in
					during the period						during the period					the		Days
	Beginning		Ending Account		October 31, 2008		Beginning		Ending Account		October 31,		Annualized			current		in the
	Account Value		Value		through		Account Value		Value		2008 through		expense			1/2		full
	October 31, 2008		April 30, 2009		April 30, 2009		October 31, 2008		April 30, 2009		April 30, 2009		ratio			year		year
Class R3	$	1,000.00	$	967.42	$	1.85	$	1,000.00	$	1,022.91	$	1.90		0.38	%		181		365
Class R4	$	1,000.00	$	968.90	$	0.39	$	1,000.00	$	1,024.39	$	0.40		0.08			181		365
Class R5	$	1,000.00	$	968.98	$	0.14	$	1,000.00	$	1,024.64	$	0.15		0.03			181		365

19

The Hartford Target Retirement 2050 Fund

Table of Contents

Manager Discussions (Unaudited)	2
Financial Statements
Schedule of Investments at April 30, 2009 (Unaudited)	4
Statement of Assets and Liabilities at April 30, 2009 (Unaudited)	5
Statement of Operations for the Six Month Period Ended April 30, 2009 (Unaudited)	6
Statement of Changes in Net Assets for the Six Month Period Ended April 30, 2009 (Unaudited) and the Year Ended October 31, 2008	7
Notes to Financial Statements (Unaudited)	8
Financial Highlights (Unaudited)	15
Directors and Officers (Unaudited)	16
How to Obtain a Copy of the Fund’s Proxy Voting Policies and Proxy Voting Records (Unaudited)	18
Quarterly Portfolio Holdings Information (Unaudited)	18
Expense Example (Unaudited)	19

The Hartford Target Retirement 2050 Fund
(subadvised by Hartford Investment Management Company)

Performance Overview(1) 10/31/08 — 4/30/09
Growth of a $10,000 investment in Class R3

Barclays Capital U.S. Aggregate Bond Index is an unmanaged index and is composed of securities from the Barclays Capital Government/Credit Bond Index, Mortgage-Backed Securities Index, Asset-Backed Securities Index and Commercial Mortgage-Backed Securities Index.

S&P 500 Index is a market capitalization weighted price index composed of 500 widely held common stocks.

You cannot invest directly in an index.

Investment objective — Seeks to maximize total return and secondarily, to seek capital preservation.

Average Annual Total Returns(2) (as of 4/30/09)

	Inception		Since
	Date		Inception
Target Retirement 2050 R3		10/31/08		-3.26	%
Target Retirement 2050 R4		10/31/08		-3.11	%
Target Retirement 2050 R5		10/31/08		-3.10	%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)	Growth of a $10,000 investment in Classes R4 and R5 shares will vary from results seen above due to differences in the expenses charged to these classes.
(2)	Total returns presented above were calculated using the Fund’s net asset value available to shareholders for sale or redemption of Fund shares on April 30, 2009, which excludes investment transactions as of this date.

The value of shares will fluctuate so that, when redeemed, shares may be worth more or less than their original cost. The chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.

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

Portfolio Managers
Hugh Whelan, CFA	Edward C. Caputo, CFA
Managing Director	Vice President

How did the Fund perform?

The Class R3 shares of The Hartford Target Retirement 2050 Fund returned -3.26%, before sales charge, for the six-month period ended April 30, 2009. In comparison, its benchmarks, the S&P 500 Index and the Barclays Capital U.S. Aggregate Bond Index, returned -8.53% and 7.74%, respectively, while the average return of the Lipper Mixed-Asset Target 2050+ Funds category, a group of funds with investment strategies similar to those of the Fund, was -3.82%.

Why did the Fund perform this way?

The U.S. recession continued to deepen during the six-month period under review. Rising unemployment weighed on personal income and spending, while first quarter industrial production posted the steepest quarterly decline in more than 30 years. However, as the six-month period drew to a close, there were some signs that perhaps the rate of economic decline was beginning to slow. Financial conditions stabilized a bit, while the Federal Reserve’s purchases of long-term Treasuries and mortgage-backed securities also provided strong support for the mortgage market, driving fixed mortgage rates lower. Generally, the Fund’s target asset allocation is set at approximately 95% equities and 5% fixed-income.

This environment initially created another difficult period for stocks, with the S&P 500 Index closing at a new low of 676.53 on March 9, down -29.30% since the start of the 6-month period. However, emergent signs of a slowdown in the economy’s free-fall helped lift the index through the remainder of the period, leaving it down -8.53% for the period. The index was in the black in March and April, gaining 8.76% and 9.57%, respectively, for a gain of 29.38% from March 9 through the end of the period. Declines were widespread across most

2

asset classes during the six-month period. Among the eleven equity asset classes in our investment universe, emerging market stocks, EAFE small cap stocks, and U.S. midcap growth stock indices posted positive returns over the 6-month period. U.S. Real-Estate Investment Trusts (REITS) led the way lower during the period, while growth stocks continued to outperform value stocks across all market capitalization levels. International stocks outperformed U.S. stocks.

In fixed income, five and ten year Treasury yields increased during the 6-month period. Within the major sectors of the Barclays Capital U.S. Aggregate Bond Index, investment grade credit was the top performer at 11.47%, while commercial mortgage backed securities (CMBS) were the weakest performer at 1.32%. In the high yield asset classes, high yield bonds and emerging markets debt both outperformed the Barclays Capital U.S. Aggregate Bond Index, while floating rate notes did not. In addition, Treasury Inflation-Protection Securities (TIPS) were the best performing investment grade asset class in our investment universe at 9.46%.

There are two main drivers of the Fund’s performance: asset allocation among various asset classes and performance of the underlying funds. With regard to asset allocation, the Fund maintains relatively fixed exposures to the equity and fixed income markets. Therefore, we seek to add value by strategically allocating within the equity and fixed income investment sub asset classes. Our asset allocation decisions over the period improved the Fund’s performance.

Concerning the Fund’s equity exposure, favorable allocations to emerging market stocks and international small cap stocks helped offset unfavorable allocations to U.S. stocks. By design, the Fund also maintains exposure to various fixed income asset classes to deliver a well diversified portfolio solution. The Fund also benefited from its allocation to TIPS. Based on the risk preferences of the Fund’s mandate, the portfolio’s duration (a measure of a bond’s sensitivity to changes in interest rates) is targeted to be greater than the Barclays Capital U.S. Aggregate Bond Index. The Fund benefited from the longer duration positioning.

Beyond the asset allocation decision, we also seek to add value by selecting the underlying mutual funds that will most effectively deliver the target asset class exposures. We analyze all of the funds in our investment universe, looking through each fund’s objectives and stated benchmark to see what it actually holds and how it behaves. During the period, underlying fund selection detracted from our overall performance.

During the period, the Fund continued to utilize Exchange-Traded Funds (ETFs) to obtain asset class exposures otherwise unavailable through The Hartford family of funds. Specifically, the Fund has target allocations to ETFs that provide U.S. real estate and international real estate exposure, as well as emerging market debt exposure.

Whenever possible, we rely on cash flows to execute our allocation changes. That was the case during the six-month period ended April 30^th, and no hard rebalance (i.e. a fund rebalancing to move the underlying fund investments to their target allocation percentages) was required.

What is the outlook?

In fixed income, risk premiums (the additional compensation paid to investors to tolerate the increased level of risk in a given asset class relative to Treasuries) across most asset classes reversed course and began to contract as conditions improved and volatility declined. An onslaught of government policy, from fiscal stimulus to quantitative easing, was the primary catalyst and buyers of historically inexpensive corporate debt emerged as more market participants recognized relative value versus equities. Although risk premiums have come off their historical peak, spreads remain significantly wider (i.e. short and long term interest rates farther apart) than in prior recessions.

In equities the earnings picture is cloudy. First, earnings are falling at near record-breaking rates and all indications are that they will continue to fall. Second, the quality and reliability of the earnings reported is lower than historical standards as the gap between pro forma (“street”) earnings and GAAP (Generally Accepted Accounting Principles) earnings rose in the past several months. Third, there is little clarity in future earnings prospects as the disparity among analyst estimates for future earnings remains at elevated levels. Historically, such consensus building was a precondition to the final, sustained recovery from bear markets associated with recessions.

That said, we believe that investors are well served by adhering to a strategic, diversified portfolio and rebalancing accordingly. We construct these portfolios based upon the long-term properties of asset classes. We look at their long-term returns, volatilities, and correlations between each other and run optimizations to build an optimal portfolio.

Composition by Underlying Fund
as of April 30, 2009

	Percentage of Net
Fund Name	Assets
SPDR DJ Wilshire International Real Estate ETF		2.2	%
SPDR DJ Wilshire REIT ETF		1.5
The Hartford Capital Appreciation Fund, Class Y		20.6
The Hartford Capital Appreciation II Fund, Class Y		3.4
The Hartford Fundamental Growth Fund, Class Y		5.5
The Hartford Global Growth Fund, Class Y		3.3
The Hartford Growth Fund, Class Y		9.1
The Hartford Growth Opportunities Fund, Class Y		3.1
The Hartford Inflation Plus Fund, Class Y		4.3
The Hartford International Opportunities Fund, Class Y		7.5
The Hartford International Small Company Fund, Class Y		5.2
The Hartford Select SmallCap Value Fund, Class Y		3.5
The Hartford Small Company Fund, Class Y		8.1
The Hartford Total Return Bond Fund, Class Y		0.8
The Hartford Value Fund, Class Y		20.9
Other Assets and Liabilities		1.0
Total		100.0	%

3

The Hartford Target Retirement 2050 Fund

Schedule of Investments

April 30, 2009 (Unaudited)
(000’s Omitted)

Shares or Principal Amount					Market Value ╪
AFFILIATED INVESTMENT COMPANIES - 95.3%
EQUITY FUNDS - 90.2%
	24	The Hartford Capital Appreciation Fund, Class Y			$	598
	11	The Hartford Capital Appreciation II Fund, Class Y •				99
	21	The Hartford Fundamental Growth Fund, Class Y •				160
	9	The Hartford Global Growth Fund, Class Y •				95
	22	The Hartford Growth Fund, Class Y •				263
	5	The Hartford Growth Opportunities Fund, Class Y •				90
	22	The Hartford International Opportunities Fund, Class Y				219
	19	The Hartford International Small Company Fund, Class Y				151
	15	The Hartford Select SmallCap Value Fund, Class Y				102
	18	The Hartford Small Company Fund, Class Y •				235
	75	The Hartford Value Fund, Class Y				608
		Total equity funds (cost$2,731)			$	2,620
FIXED INCOME FUNDS - 5.1%
	12	The Hartford Inflation Plus Fund, Class Y			$	124
	2	The Hartford Total Return Bond Fund, Class Y				24
		Total fixed income funds (cost$137)			$	148
		Total investments in affiliated investment companies (cost$2,868)			$	2,768
EXCHANGE TRADED FUNDS - 3.7%
	3	SPDR DJ Wilshire International Real Estate ETF			$	65
	1	SPDR DJ Wilshire REIT ETF				43
		Total exchange traded funds (cost$131)			$	108
		Total long-term investments (cost$2,999			$	2,876
		Total investments (cost$2,999)▲	99.0	%	$	2,876
		Other assets and liabilities	1.0	%		29
		Total net assets	100.0	%	$	2,905

Note:	Percentage of investments as shown is the ratio of the total market value to total net assets.
▲	At April 30, 2009, the cost of securities for federal income tax purposes was $2,999 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	17
Unrealized Depreciation		(140	)
Net Unrealized Depreciation	$	(123	)

•	Currently non-income producing.
╪	See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of securities.

FAS 157 Disclosure of Investment Valuation Hierarchy Levels

Assets:
Investment in securities — Level 1	$	2,876
Total	$	2,876

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

4

The Hartford Target Retirement 2050 Fund

Statement of Assets and Liabilities

April 30, 2009 (Unaudited)
(000’s Omitted)

Assets:
Investments in securities, at fair value (cost $131)	$	108
Investments in underlying affiliated funds, at fair value (cost $2,868)		2,768
Receivables:
Fund shares sold		—
Dividends and interest		—
Other assets		32
Total assets		2,908
Liabilities:
Payables:
Investment management fees		—
Distribution fees		—
Accrued expenses		3
Total liabilities		3
Net assets	$	2,905
Summary of Net Assets:
Capital stock and paid-in-capital		3,033
Accumulated undistributed net investment income		—
Accumulated net realized loss on investments		(5	)
Unrealized depreciation of investments		(123	)
Net assets	$	2,905
Shares authorized		150,000
Par value	$	0.001
Class R3: Net asset value per share	$	9.56
Shares outstanding		101
Net assets	$	967
Class R4: Net asset value per share	$	9.57
Shares outstanding		101
Net assets	$	969
Class R5: Net asset value per share	$	9.57
Shares outstanding		101
Net assets	$	969

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

5

The Hartford Target Retirement 2050 Fund

Statement of Operations

From (commemcement of operations) October 31, 2008 through April 30, 2009 (Unaudited)
(000’s Omitted)

Investment Income:
Dividends	$	3
Dividends from underlying affiliated funds		33
Total investment income		36
Expenses:
Investment management fees		2
Transfer agent fees		—
Distribution fees
Class R3		2
Class R4		1
Custodian fees		1
Accounting services		—
Registration and filing fees		17
Board of Directors’ fees		—
Audit fees		3
Other expenses		4
Total expenses (before waivers)		30
Expense waivers		(27	)
Total waivers		(27	)
Total expenses, net		3
Net investment income		33
Net Realized Loss on Investments:
Net realized loss on investments in underlying affiliated funds		(5	)
Net realized gain on investments in securities		—
Net Realized Loss on Investments		(5	)
Net Changes in Unrealized Depreciation of Investments:
Net unrealized depreciation of investments		(123	)
Net Changes in Unrealized Depreciation of Investments		(123	)
Net Loss on Investments		(128	)
Net Decrease in Net Assets Resulting from Operations	$	(95	)

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

6

The Hartford Target Retirement 2050 Fund

Statement of Changes in Net Assets

(000’s Omitted)

	For the Period
	October 31, 2008**
	through
	April 30, 2009
Operations:
Net investment income	$	33
Net realized loss on investments		(5	)
Net unrealized depreciation of investments		(123	)
Net decrease in net assets resulting from operations		(95	)
Distributions to Shareholders:
From net investment income
Class R3		(11	)
Class R4		(11	)
Class R5		(11	)
Total distributions		(33	)
Capital Share Transactions:
Class R3		1,011
Class R4		1,011
Class R5		1,011
Net increase from capital share transactions		3,033
Net increase in net assets		2,905
Net Assets:
Beginning of period		—
End of period	$	2,905
Accumulated undistributed net investment income	$	—

** Commencement of operations.

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

7

The Hartford Target Retirement 2050 Fund

Notes to Financial Statements

April 30, 2009 (Unaudited)
(000’s Omitted)

1.	Organization:
	The Hartford Mutual Funds, Inc. (“Company”) is an open-end management investment company comprised of fifty-two portfolios. Financial statements for The Hartford Target Retirement 2050 Fund (the “Fund”), a series of the Company, are included in this report.
	The Company is organized under the laws of the State of Maryland and is registered with the Securities and Exchange Commission (“SEC”) under the Investment Company Act of 1940, as amended (“1940 Act”). The Fund is a diversified open-end management investment company.
	Classes R3, R4, R5 shares, which are offered to employer-sponsored retirement plans, are sold without a sales charge. All classes of shares have identical voting, redemption, dividend, liquidation and other rights and the same terms and conditions, with the exceptions that each class may have different expenses, which may affect performance.
	The Fund, as a “Fund of Funds”, invests the majority of its assets in Class Y shares of other Hartford mutual funds (“Underlying Funds”) as well as certain exchange-traded funds (“ETFs”). The Fund seeks its investment goals through implementation of a strategic asset allocation recommendation provided by Hartford Investment Management Company (“Hartford Investment Management”), a wholly-owned subsidiary of The Hartford Financial Services Group, Inc. (“The Hartford”).
2.	Significant Accounting Policies:
	The accounting policies of the affiliated underlying funds are outlined in the shareholder reports for such funds, available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov. The reports may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330. The affiliated underlying funds are not covered by this report.
	The following is a summary of significant accounting policies of the Fund, which are in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”).

a)	Security Transactions and Investment Income - Security transactions are recorded on the trade date (the date the order to buy or sell is executed). Security gains and losses are determined on the basis of identified cost.
	Dividend income is accrued as of the ex-dividend date. Income and capital gain distributions from Underlying Funds are recorded on the ex-dividend date.
b)	Security Valuation - Investments in open-end mutual funds are valued at the respective NAV of each open-end mutual fund on the valuation date.
	The Fund generally uses market prices in valuing portfolio securities. If market prices are not readily available or are deemed unreliable, the Fund will use the fair value of the security as determined in good faith under policies and procedures established by and under the supervision of the Fund’s Board of Directors. Market prices may be deemed unreliable, for example, if a security is thinly traded or if an event has occurred after the close of the security’s primary markets, but before the close of the New York Stock Exchange (the “Exchange”) (normally 4:00 p.m. Eastern Time, referred to as the “Valuation Time”) that is expected to affect the value of the portfolio security. The circumstances in which the Fund may use fair value pricing include, among others: (i) the occurrence of events that are significant to a particular issuer, such as mergers, restructuring or defaults; (ii) the occurrence of events that are significant to an entire market, such as natural disasters in a particular region or governmental actions; (iii) trading restrictions on securities; (iv) thinly traded securities and (v) market events such as trading halts and early market closings. In addition, with respect to

8

the valuation of stocks primarily traded on foreign markets, the Fund uses a fair value pricing service approved by the Fund’s Board of Directors, which employs quantitative models that evaluate changes in the value of foreign market proxies (e.g., futures contracts, ADR’s, exchange traded funds (“ETF’s”)) after the close of the foreign markets but before the close of the Exchange. Securities that are primarily traded on foreign markets may trade on days that are not business days of the Fund. The value of the foreign securities in which the Fund invests may change on days when a shareholder will not be able to purchase or redeem shares of the Fund. Fair value pricing is subjective in nature and the use of fair value pricing by the Fund may cause the NAV of its shares to differ significantly from the NAV that would have been calculated using market prices at the close of the exchange on which a portfolio security is primarily traded but before the close of the Exchange. There can be no assurance that the Fund could obtain the fair value assigned to a security if the Fund were to sell the security at approximately the time at which the Fund determines its NAV.

Debt securities (other than short-term obligations and senior floating rate interests) held by the Fund are valued on the basis of valuations furnished by an independent pricing service which determines valuations for normal institutional size trading units of debt securities. Senior floating rate interests generally trade in over-the-counter markets and are priced through an independent pricing service utilizing independent market quotations from loan dealers or financial institutions. Securities for which prices are not available from an independent pricing service are valued using market quotations obtained from one or more dealers that make markets in the securities in accordance with procedures established by the Fund’s Board of Directors. Generally, the Fund may use fair valuation in regard to debt securities when the Fund holds defaulted or distressed securities or securities in a company in which a reorganization is pending. Short-term investments with a maturity of more than 60 days when purchased are valued based on market quotations until the remaining days to maturity become less than 61 days. Investments that mature in 60 days or less are valued at amortized cost, which approximates market value.

Exchange traded equity securities shall be valued at the last reported sale price on the exchange or market on which the security is primarily traded (the “Primary Market”) at the Valuation Time. If the security did not trade on the Primary Market, it may be valued at the Valuation Time at the last reported sale price on another exchange where it trades. The value of an equity security not traded on any exchange but traded on the Nasdaq Stock Market, Inc. (“Nasdaq”) or another OTC market shall be valued at the last reported sale price or official closing price on the exchange or market on which the security is traded as of the Valuation Time. If it is not possible to determine the last reported sale price or official closing price on the relevant exchange or market at the Valuation Time, the value of the security shall be taken to be the most recent mean between bid and asked prices on such exchange or market at the Valuation Time.

Securities of foreign issuers and non-dollar securities are translated from the local currency into U.S. dollars using prevailing exchange rates.

Options contracts on securities, currencies, indexes, futures contracts, commodities and other instruments shall be valued at their most recent sales price at the Valuation Time on the Primary Market on which the instrument is primarily traded. If the instrument did not trade on the Primary Market, it may be valued at the most recent sales price at the Valuation Time on another exchange or market where it did trade.

Futures contracts are valued at the most recent settlement price reported by an exchange on which, over time, they are traded most extensively. If a settlement price is not available, futures contracts will be valued at the most recent trade price as of the Valuation Time. If there were no trades, the contract shall be valued at the mean of the closing bid/ask prices as of the Valuation Time.

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

A forward currency contract shall be valued based on the price of the underlying currency at the prevailing interpolated exchange rate, which is a combination of the spot currency rate and the forward currency rate. Spot currency rates and

9

The Hartford Target Retirement 2050 Fund
Notes to Financial Statements - (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

	��	forward currency rates are obtained from an independent pricing service on a daily basis not more than one hour before the Valuation Time.
		Swaps are valued based on custom valuations furnished by an independent pricing service. Swaps for which prices are not available from an independent pricing service are valued in accordance with procedures established by the Fund’s Board of Directors.
		Other derivative or contractual type instruments shall be valued using market prices if such instruments trade on an exchange or market. If such instruments do not trade on an exchange or market, such instruments shall be valued at a price at which the counterparty to such contract would repurchase the instrument. In the event that the counterparty cannot provide a price, such valuation may be determined in accordance with procedures established by the Fund’s Board of Directors.
c)		Indexed Securities - The Fund may invest in indexed securities whose values are linked to changes in interest rates, indices, or other underlying instruments. The Fund uses these securities to increase or decrease its exposure to different underlying instruments and to gain exposure to markets that might be difficult to invest in using conventional securities. Indexed securities may be more volatile than their underlying instruments, but any loss is limited to the amount of the original investment and there may be a limit to the potential appreciation of the investment. The Fund had investments in indexed securities as of April 30, 2009, as shown on the Schedule of Investments under Exchange Traded Funds.
d)		Fund Share Valuation and Dividend Distributions to Shareholders — Orders for the Fund’s shares are executed in accordance with the investment instructions of the shareholders. The NAV of the Fund’s shares is determined as of the close of each business day of the Exchange. The NAV is determined separately for each class of the Fund by dividing the Fund’s net assets attributable to that class by the number of shares of the class outstanding. Orders for the purchase of the Fund’s shares prior to the close of the Exchange on any day on which the Exchange is open for business are priced at the NAV determined as of the close of the Exchange. Orders after the close of the Exchange, or on a day on which the Exchange and/or the Fund is not open for business, are priced at the next determined NAV.
		The Fund intends to distribute substantially all of its net investment income and net realized capital gains to shareholders no less frequently than once a year. Normally, dividends from net investment income of the Fund are declared and paid annually. Dividends are paid on shares beginning on the business day after the day when the funds used to purchase the shares are collected by the transfer agent for the Fund. Long-term capital gains distributions received from underlying funds are distributed at least annually, when required. Unless shareholders specify otherwise, all dividends and distributions will be automatically reinvested in additional full or fractional shares of the Fund.
		Distributions from net investment income, realized capital gains and capital are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP with respect to character and timing. These differences include but are not limited to foreign currency gains and losses, losses deferred due to wash sales adjustments, adjustments related to Passive Foreign Investment Companies and certain derivatives, and excise tax regulations. Permanent book and federal income tax basis differences relating to shareholder distributions will result in reclassifications to certain of the Fund’s capital accounts (see Federal Income Taxes: Reclassification of Capital Accounts footnote).
e)		Use of Estimates — The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and the reported amounts of income and expenses during the period. Operating results in the future could vary from the amounts derived from management’s estimates.
f)		Financial Accounting Standards Board Financial Accounting Standards No. 157 - Effective November 1, 2008, the Fund adopted Financial Accounting Standards Board (“FASB”) Statement of Financial Accounting Standards No. 157, “Fair Value Measurements” (“FAS 157”). This standard clarifies the definition of fair value for financial reporting,

10

establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements. Fair value is defined under FAS 157 as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Under FAS 157, a fair value measurement should reflect all of the assumptions that market participants would use in pricing the asset or liability, including assumptions about the risk inherent in a particular valuation technique, the effect of a restriction on the sale or use of an asset, and the risk of nonperformance.

Various inputs are used in determining the value of the Fund’s investment. These inputs are summarized, per FAS 157, into three broad hierarchy levels. This hierarchy is based on whether the valuation inputs are observable or unobservable. These levels are:

• Level 1 — Quoted prices in active markets for identical securities. Level 1 includes exchange-traded instruments such as domestic equities, some foreign equities, options, futures, mutual funds, ETF’s, and rights and warrants.

• Level 2 — Observable inputs other than Level 1 prices, such as quoted prices for similar securities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the security. Level 2 includes debt securities that are traded less frequently than exchange-traded instruments and that are valued using third party pricing services and foreign equities, whose value is determined using a multi-factor regression model with inputs that are observable in the market; and money market instruments, which are carried at amortized cost.

• Level 3 — Significant unobservable inputs that are supported by little or no market activity. Level 3 includes financial instruments whose values are determined using broker quotes and require significant management judgment or estimation. This category includes broker quoted securities, long dated OTC options and securities where trading has been halted or there are certain restrictions on trading. While these securities are priced using unobservable inputs, the valuation of these securities reflects the best available data and management believes the prices are a good representation of exit price.

	Individual securities within any of the above mentioned asset classes may be assigned a different hierarchical level than those presented above, as individual circumstances dictate.
	FAS 157 also requires that a roll forward reconciliation be shown for all Level 3 securities from the beginning of the reporting period to the end of the reporting period. Part of this reconciliation includes transfers in and/or out of Level 3. For purposes of this reconciliation, transfers in are shown at the end of period fair value and transfers out are shown at the beginning of period fair value. During the six-month period ended April 30, 2009, the Fund held no Level 3 securities.
	FASB Staff Position No. 157-4 - In April 2009, FASB released FASB Staff Position No. 157-4, “Determining Fair Value When the Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly” (“FSP FAS 157-4”). FSP FAS 157-4 provides additional guidance on determining whether a market for a financial asset is not active and a transaction is not distressed when measuring fair value under FAS 157. The FSP also requires additional disclosure detail on debt and equity securities by major investment categories. FSP FAS 157-4 is effective for interim and annual periods ending after June 15, 2009. At this time, management is evaluating the implications of FSP FAS 157-4 and does not believe it will impact valuation but will require additional disclosure. This additional disclosure has not yet been implemented.
g)	Financial Accounting Standards Board Financial Accounting Standards No. 161 - In March 2008, the FASB released Statement of Financial Accounting Standards No. 161, “Disclosures about Derivative Instruments and Hedging Activities” (“FAS 161”). FAS 161 requires companies to disclose information detailing the objectives and strategies for using derivative instruments, the level of derivative activity entered into by the company and any credit risk-related contingent features of the agreements. The application of FAS 161 is required for fiscal years and interim periods beginning after November 15, 2008. At this time, management is evaluating the implications of FAS 161 and has not yet implemented the new disclosure standard.

11

The Hartford Target Retirement 2050 Fund
Notes to Financial Statements - (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

h) Indemnifications: Under the Company’s organizational documents, the Company shall indemnify its officers and directors to the full extent required or permitted under Maryland General Corporation Law and the federal securities law. In addition, the Company, on behalf of the Fund, may enter into contracts that contain a variety of indemnifications. The Company’s maximum exposure under these arrangements is unknown. However, the Company has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote.

3. Federal Income Taxes:

a)	Federal Income Taxes - For federal income tax purposes, the Fund intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code (“IRC”) by distributing substantially all of its taxable net investment income and net realized capital gains to its shareholders and otherwise complying with the requirements of regulated investment companies. The Fund has distributed substantially all of its income and capital gains in prior years and the Fund intends to distribute substantially all of its income and gains during the calendar year ending December 31, 2009. Accordingly, no provision for federal income or excise taxes has been made in the accompanying financial statements. Distributions from short-term capital gains are treated as ordinary income distributions for federal income tax purposes.
b)	Reclassification of Capital Accounts - In accordance with American Institute of Certified Public Accountants (AICPA) Statement of Position 93-2, Determination, Disclosure, and Financial Statement Presentation of Income, Capital Gain, and Return of Capital Distributions by Investment Companies, the Fund may record reclassifications in its capital accounts. These reclassifications have no impact on the NAV of the Fund. The reclassifications are a result of permanent differences between GAAP and tax accounting for such items as net operating losses that reduce distribution requirements. Adjustments are made to reflect the impact these items have on current and future distributions to shareholders. Therefore, the source of the Fund’s distributions may be shown in the accompanying Statement of Changes in Net Assets as from net investment income, from net realized gains on investments or from capital depending on the type of book and tax differences that exist. Reclassifications are made at fiscal year end and therefore, no reclassifications were made during the six-month period ended April 30, 2009.
c)	Financial Accounting Standards Board Interpretation No. 48 - On July 13, 2006, the FASB released FASB Interpretation No. 48 “Accounting for Uncertainty in Income Taxes” (“FIN 48”). FIN 48 provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. The Fund has adopted FIN 48. Management has evaluated the implications of FIN 48 for the Fund and has determined there is no impact to the Fund’s financial statements.

4. Expenses:

a)

Investment Management Agreements - Hartford Investment Financial Services, LLC (“HIFSCO”) serves as investment manager to the Fund pursuant to an Investment Management Agreement with The Hartford Mutual Funds, Inc. As investment manager, HIFSCO has overall investment supervisory responsibility for the Fund. In addition, HIFSCO provides administrative personnel, services, equipment, facilities and office space for proper operation of the Fund. HIFSCO has contracted with Hartford Investment Management for the provision of day-to-day investment management services to the Fund in accordance with the Fund’s investment objective and policies. The Fund pays a fee to HIFSCO, a portion of which may be used to compensate Hartford Investment Management.

The schedule below reflects the rates of compensation paid to HIFSCO for investment management services rendered during the six-month period ended April 30, 2009; the rates are accrued daily and paid monthly:

Average Daily Net Assets	Annual Fee
On first $500 million		0.15	%
On next $4.5 billion		0.10	%
On next $5 billion		0.08	%
Over $10 billion		0.07	%

12

b) Accounting Services Agreement — Pursuant to the Fund Accounting Agreement between Hartford Life Insurance Company (“HLIC”) and the Fund, HLIC provides accounting services to the Fund and receives monthly compensation on the Fund’s average net assets. The Fund’s accounting service fees are accrued daily and paid monthly.

Average Daily Net Assets	Annual Fee
On first $5 billion		0.012	%
Over $5 billion		0.010	%

c) Operating Expenses - Allocable expenses incurred by the Company are allocated to each Fund and allocated to classes within the Fund in proportion to the average daily net assets of the Fund and each class, except where allocation of certain expenses is more fairly made directly to the Fund or to specific classes within a Fund. During the six-month period ended April 30, 2009, HIFSCO has contractually limited the total operating expenses of this Fund, exclusive of taxes, interest expense, brokerage commissions, certain distribution expenses and extraordinary expenses as follows:

Class R3	Class R4	Class R5
1.25%	0.95%	0.90%

	Voluntary limitations for total operating expenses include expenses incurred as the result of investing in other investment companies. Amounts incurred which exceed the above limits are deducted from expenses and are reported as waivers on the accompanying Statement of Operations.
d)	Distribution and Service Plan for Class R3 and R4 Shares - HIFSCO is the principal underwriter and distributor of the Fund. HIFSCO is engaged in distribution activities, which include marketing and distribution of shares through broker-dealers, financing distribution costs and maintaining financial books and records.
	The Fund has adopted Distribution and Service Plans in accordance with Rule 12b-1 of the Investment Company Act of 1940, as amended, to compensate the distributor (HIFSCO) for activities intended to result in the sale and distribution of Classes R3 and R4 shares and for providing services for shareholders. The Rule 12b-1 plan applicable to Class R3 shares provides for a distribution fee of 0.50%. The Rule 12b-1 plan applicable to Class R4 shares provides for a distribution fee of 0.25%. For Classes R3 and R4 shares, some or the entire fee may be remitted to broker dealers for distribution and/or shareholder account services. The Fund’s 12b-1 fees are accrued daily and paid monthly.
	For the six-month period ended April 30, 2009, total sales commissions paid to affiliated brokers/dealers of The Hartford for distributing the Fund’s shares rounds to zero. These commissions are in turn paid to sales representatives of the broker/dealers.
e)	Other Related Party Transactions - Certain officers of the Fund are directors and/or officers of HIFSCO, and/or The Hartford or its subsidiaries. For the six-month period ended April 30, 2009, a portion of the Fund’s chief compliance officer’s salary was paid by the Fund in an amount, which rounds to zero. Hartford Administrative Services Company (“HASCO”), a wholly owned subsidiary of The Hartford, provides transfer agent services to the Fund. HASCO was compensated an amount, which rounds to zero, for providing such services. These fees are accrued daily and paid monthly.

5.	Affiliate Holdings:
	As of April 30, 2009, affiliates of The Hartford had ownership of shares in the Fund as follows:

	Shares
Class R3		101
Class R4		101
Class R5		101

13

The Hartford Target Retirement 2050 Fund
Notes to Financial Statements - (continued) 
April 30, 2009 (Unaudited)
(000’s Omitted)

6.	Investment Transactions:
	For the six-month period ended April 30, 2009, the Fund’s aggregate purchases and sales of investment securities (excluding short-term investments) were as follows:

	Amount
Cost of Purchases Excluding U.S. Government Obligations	$	3,199
Sales Proceeds Excluding U.S. Government Obligations		195

7.	Capital Share Transactions:
	The following information is for the six-month period ended April 30, 2009.

	For the Six-Month Period Ended 4/30/2009
			Shares				Shares
			Issued for				Issued		Net Increase
	Shares		Reinvested		Shares		from		(Decrease) of
	Sold		Dividends		Redeemed		Merger		Shares
Class R3
Shares		100		1		—		—		101
Amount	$	1,000	$	11	$	—	$	—	$	1,011
Class R4
Shares		100		1		—		—		101
Amount	$	1,000	$	11	$	—	$	—	$	1,011
Class R5
Shares		100		1		—		—		101
Amount	$	1,000	$	11	$	—	$	—	$	1,011

8.

Line of Credit:

The Fund is one of several Hartford Funds that participate in a $500 million committed revolving line of credit facility. The facility is to be used for temporary or emergency purposes. Under the arrangement, the Fund is required to own securities having a market value in excess of 300% of the total bank borrowings. The interest rate on borrowings varies depending on the nature of the loan. The facility also requires a fee to be paid based on the amount of the commitment. During the six-month period ended April 30, 2009, the Fund did not have any borrowings under this facility.

14

The Hartford Target Retirement 2050 Fund

Financial Highlights — (Unaudited)

- Selected Per-Share Data - (a)

- Ratios and Supplemental Data -

Ratio of

Ratio of

Ratio of

Expenses

Expenses

Expenses

to Average

to Average

to Average

Net Assets

Net Assets

Net Assets

Before

After

After

Net

Waivers

Waivers

Waivers

Realized

and

and

and

and Un-

Distrib-

Net

Reimburse-

Reimburse-

Reimburse-

Ratio of

Net

Pay-

realized

Dividends

utions

Increase

Net

Net

ments and

ments and

ments and

Net Invest-

Port-

Net Asset

Invest-

ments

Gain

from Net

from

Distri-

(Decrease)

Asset

Assets at

Including

Including

Excluding

ment

folio

Value at

ment

from

(Loss) on

Total from

Invest-

Realized

butions

Total

in Net

Value at

End of

Expenses

Expenses

Expenses

Income to

Turn-

Beginning

Income

(to)

Invest-

Investment

ment

Capital

from

Distri-

Asset

End of

Total

Period

not Subject

not Subject

not Subject

Average

over

Class

of Period

(Loss)

Affiliate

ments

Operations

Income

Gains

Capital

butions

Value

Period

Return(b)

(000’s)

to Cap(c)

to Cap(c)

to Cap(c)

Net Assets

Rate(d)

From (commencement of operations) October 31, 2008, through April 30, 2009 (Unaudited) (e)

R3

$

10.00

$

0.12

$

—

$

(0.45

)

$

(0.33

)

$

(0.11

)

$

—

$

—

$

(0.11

)

$

(0.44

)

$

9.56

(3.26)

%(f)

$

967

2.49

%(g)

0.38

%(g)

0.38

%(g)

2.37

%(g)

9

%

R4

10.00

0.13

—

(0.45

)

(0.32

)

(0.11

)

—

—

(0.11

)

(0.43

)

9.57

(3.11

) (f)

969

2.19

(g)

0.08

(g)

0.08

(g)

2.67

(g)

—

R5

10.00

0.14

—

(0.46

)

(0.32

)

(0.11

)

—

—

(0.11

)

(0.43

)

9.57

(3.10

) (f)

969

1.89

(g)

0.03

(g)

0.03

(g)

2.72

(g)

—

(a)	Information presented relates to a share outstanding throughout the indicated period.
(b)	Assumes initial investment at net asset value at the beginning of each period, reinvestment of all distributions, the complete redemption of the investment at net asset value at the end of each period and no sales charge. Total return would be reduced if sales charges were taken into account.
(c)	Expense ratios do not include expenses of the underlying funds.
(d)	Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between the classes of shares issued.
(e)	Per share amounts have been calculated using average shares outstanding method.
(f)	Not annualized.
(g)	Annualized.

15

The Hartford Target Retirement 2050 Fund

Directors and Officers (Unaudited)

The Board of Directors appoints officers who are responsible for the day-to-day operations of the Fund and who execute policies formulated by the Directors. Each director serves until his or her death, resignation, or retirement or until the next annual meeting of shareholders is held or until his or her successor is elected and qualifies.

Directors and officers who are employed by or who have a financial interest in The Hartford are considered “interested” persons of the Fund pursuant to the Investment Company Act of 1940, as amended. Each officer and three of the Fund’s directors, as noted in the chart below, are “interested” persons of the Fund. Each director serves as a director for The Hartford Mutual Funds, Inc., The Hartford Mutual Funds II, Inc., The Hartford Income Shares Fund, Inc., Hartford Series Fund, Inc., and Hartford HLS Series Fund II, Inc., which collectively consist of 100 funds. Correspondence may be sent to directors and officers c/o Hartford Mutual Funds, P.O. Box 2999, Hartford, Connecticut 06104-2999, except that correspondence to Ms. Fagely may be sent to 500 Bielenberg Drive, Woodbury, Minnesota 55125.

The table below sets forth, for each director and officer, his or her name, year of birth, current position with the Fund and date first elected or appointed to The Hartford Mutual Funds, Inc. (“MF”) and The Hartford Mutual Funds II, Inc. (“MF2”), principal occupation, and, for directors, other directorships held. The Fund’s statement of additional information contains further information on the directors and is available free of charge by calling 1-888-843-7824 or writing to Hartford Mutual Funds, P.O. Box 64387, St. Paul, MN 55164-0387.

Information on the aggregate remuneration paid to the directors of the Fund can be found in the Statement of Operations herein. The Fund pays a portion of the Chief Compliance Officer’s compensation, but does not pay salaries or compensation to any of its officers or directors who are employed by The Hartford.

Non-Interested Directors

Lynn S. Birdsong (1946) Director since 2003, Co-Chairman of the Investment Committee

Mr. Birdsong is a private investor. Since 1981, Mr. Birdsong has been a partner in Birdsong Company, an advertising specialty firm. Since 2003, Mr. Birdsong has been an independent director of The Japan Fund. From 2003 to March 2005, Mr. Birdsong was an independent director of the Atlantic Whitehall Funds. From 1979 to 2002, Mr. Birdsong was a managing director of Zurich Scudder Investments, an investment management firm. During his employment with Scudder, Mr. Birdsong was an interested director of The Japan Fund.

Robert M. Gavin, Jr. (1940) Director since 2002 (MF) and 1986 (MF2), Chairman of the Board since 2004

Dr. Gavin is an educational consultant. Prior to September 1, 2001, he was President of Cranbrook Education Community and prior to July 1996, he was President of Macalester College, St. Paul, Minnesota.

Duane E. Hill (1945) Director since 2001 (MF) and 2002 (MF2), Chairman of the Nominating Committee

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

Sandra S. Jaffee (1941) Director since 2005

Ms. Jaffee is Chairman and Chief Executive Officer of Fortent (formerly Searchspace Group), a leading provider of compliance/regulatory technology to financial institutions. Ms. Jaffee served as an Entrepreneur in Residence with Warburg Pincus, a private equity firm, from August 2004 to August 2005. From September 1995 to July 2004, Ms. Jaffee served as Executive Vice President at Citigroup, where she was President and Chief Executive Officer of Citibank’s Global Securities Services (1995-2003).

William P. Johnston (1944) Director since 2005, Chairman of the Compliance Committee

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

16

Phillip O. Peterson (1944) Director since 2002 (MF) and 2000 (MF2), Chairman of the Audit Committee

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

Lemma W. Senbet (1946) Director since 2005

Dr. Senbet is the William E. Mayer Chair Professor of Finance at the University of Maryland, Robert H. Smith School of Business. He was chair of the Finance Department during 1998-2006. Previously he was an endowed professor of finance at the University of Wisconsin-Madison. Also, he was director of the Fortis Funds from March 2000-July 2002. Dr. Senbet served the finance profession in various capacities, including as director of the American Finance Association and President of the Western Finance Association. In 2006, Dr. Senbet was inducted Fellow of Financial Management Association International for his career-long distinguished scholarship and professional service.

Interested Directors and Officers

Thomas M. Marra* (1958) Director since 2002

Mr. Marra has served as President and Chief Operating Officer of The Hartford Financial Services Group, Inc. (“The Hartford”) since 2007. Mr. Marra currently serves as Director of Hartford Life, Inc. (“HL, Inc.”). Mr. Marra served as Chief Operating Officer of Hartford Life Insurance Company, Inc. (“Hartford Life”) (2000-2008), as President of Hartford Life (2002-2008) and as Director of Hartford Life’s Investment Products Division from 1998 to 2000.

* On February 24, 2009, The Hartford and Mr. Marra determined to enter into a mutually agreed separation whereby Mr. Marra will retire, and his role as an executive officer and employee of The Hartford will terminate, effective July 3, 2009. Mr. Marra will resign his position as a Director of the Fund effective June 25, 2009.

Lowndes A. Smith (1939) Director since 2002, Co-Chairman of the Investment Committee

Mr. Smith served as Vice Chairman of The Hartford from February 1997 to January 2002, as President and Chief Executive Officer of Hartford Life, Inc. from February 1997 to January 2002, and as President and Chief Operating Officer of The Hartford Life Insurance Companies from January 1989 to January 2002. Mr. Smith serves as a Director of White Mountains Insurance Group, Ltd., One Beacon Insurance, Symetra Financial and as a Managing Director of Whittington Gray Associates.

John C. Walters* (1962) Director since 2008

Mr. Walters currently serves as Chief Executive Officer, President and Director of HL, Inc. Mr. Walters previously served as President of the U.S. Wealth Management Division of Hartford Life, Inc., as Co-Chief Operating Officer of Hartford Life Insurance Company (2007-2008) and as Executive Vice President and Director of its Investment Products Division (2000-2008). Mr. Walters also serves as Chairman of the Board, Chief Executive Officer, President and Director of Hartford Life Insurance Company and as Executive Vice President of The Hartford. In addition, Mr. Walters is Manager of HL Investment Advisors, LLC (“HL Advisors”).

* Mr. Walters previously served as President and Chief Executive Officer of the Fund (2007 — 2009).

Other Officers

Robert M. Arena, Jr. (1968) President and Chief Executive Officer since 2009 (served as Vice President of the Fund (2006 — 2009))

Mr. Arena serves as Executive Vice President of Hartford Life Insurance Company, (“Hartford Life���). Additionally, Mr. Arena is Director and Senior Vice President of Hartford Administrative Services Company, (“HASCO”), Manager, Chief Executive Officer and President of Hartford Investment Financial Services, LLC (“HIFSCO”) and HL Advisors. Prior to joining The Hartford in 2004, he was Senior Vice President in charge of Product Management for American Skandia/Prudential in the individual annuities division. Mr. Arena joined American Skandia in 1996.

Tamara L. Fagely (1958) Vice President, Treasurer and Controller since 2002 (MF) 1993 (MF2)

Ms. Fagely has been a Vice President of HASCO since 1998 and Chief Financial Officer since 2006. Currently Ms. Fagely is a Vice President of Hartford Life. She served as Assistant Vice President of Hartford Life from December 2001 through March 2005. In addition, Ms. Fagely is Controller and Chief Financial Officer of HIFSCO.

Brian Ferrell (1962) AML Compliance Officer since 2008

Mr. Ferrell has served as Assistant Vice President and AML Compliance Officer for The Hartford since 2006 and as AML Compliance Officer for HASCO and Hartford Investor Services Company, LLC (“HISC”) since 2008. Prior to joining The Hartford in 2006, Mr. Ferrell held various positions at the U.S. Department of the Treasury, (the “Treasury”), from 2001 to 2006 where he served as Chief Counsel for the Treasury’s Financial Crimes Enforcement Network, (“FinCEN”) from 2005 — 2006.

17

The Hartford Target Retirement 2050 Fund
Directors and Officers (Unaudited) — (continued)

Thomas D. Jones, III (1965) Vice President and Chief Compliance Officer since 2006

Mr. Jones serves as Chief Compliance Officer for the Hartford Mutual Funds and Vice President and Director of Securities Compliance for The Hartford. He is also Vice President of HIFSCO, HL Advisors, and Hartford Life Insurance Company. Mr. Jones joined The Hartford in 2006 from SEI Investments, where he served as Chief Compliance Officer for its mutual funds and investment advisers. Prior to joining SEI, Mr. Jones was First Vice President and Compliance Director for Merrill Lynch Investment Managers (Americas) (“MLIM”), where he worked from 1992-2004. At MLIM, Mr. Jones was responsible for the compliance oversight of various investment products, including mutual funds, wrap accounts, institutional accounts and alternative investments.

Edward P. Macdonald (1967) Vice President, Secretary and Chief Legal Officer since 2005

Mr. Macdonald serves as Assistant General Counsel and Assistant Vice President of The Hartford and Chief Legal Officer and Vice President of HIFSCO. He also serves as Vice President and Secretary of HASCO, Assistant Vice President of Hartford Life, and Chief Legal Officer, Secretary and Vice President of HL Advisors. Prior to joining The Hartford in 2005, Mr. Macdonald was Chief Counsel, Investment Management for Prudential Financial (formerly American Skandia Investment Services, Inc.). He joined Prudential in April 1999.

Vernon J. Meyer (1964) Vice President since 2006

Mr. Meyer serves as Senior Vice President of Hartford Life and as Director of its Investment Advisory Group in the Individual Markets Group segment. He also serves as Senior Vice President of HIFSCO and HL Advisors. Prior to joining The Hartford in 2004, Mr. Meyer was with MassMutual which he joined in 1987.

D. Keith Sloane (1960) Vice President since 2009

Mr. Sloane is a Senior Vice President of Hartford Life where he serves as Director of mutual fund product management for The Hartford’s mutual funds and 529 college savings businesses. Additionally, Mr. Sloane currently serves as Senior Vice President of HIFSCO, HL Advisors, and HASCO. Prior to joining The Hartford in 2007, Mr. Sloane was Director of product marketing and led the mutual fund business for Wachovia Securities (“Wachovia”) in their investment products group. Mr. Sloane joined Wachovia in 1995.

Jane Wolak (1961) Vice President since 2009

Ms. Wolak currently serves as Vice President of Hartford Life. Ms. Wolak joined Hartford Life as Vice President, Retail Product Services in May 2007. She is also Vice President of HASCO. Previously, Ms. Wolak was with Sun Life Financial where she held the position of Vice President, Service Center Operations from 2001 — 2007.

HOW TO OBTAIN A COPY OF THE FUND’S PROXY VOTING POLICIES AND VOTING RECORDS

A description of the policies and procedures that the Fund uses to determine how to vote proxies relating to portfolio securities and a record of how the Fund voted any proxies for the twelve-month period ended June 30, 2008 is available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov.

QUARTERLY PORTFOLIO HOLDINGS INFORMATION

The Fund files a complete schedule of portfolio holdings with the Commission for the first and third quarters of each fiscal year on Form N-Q. The Fund’s Forms are available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov. The Form N-Q may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330.

18

The Hartford Target Retirement 2050 Fund

Expense Example (Unaudited)

Your Fund’s Expenses

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments and contingent deferred sales charges (CDSC) (2) ongoing costs including management fees; distribution fees; and other fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the period of October 31, 2008 through April 30, 2009.

Actual Expenses

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

Hypothetical Example for Comparison Purposes

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

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads) and CDSC. Therefore, the second line 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 are equal to the Fund’s annualized expense ratios multiplied by average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

	Actual return						Hypothetical (5% return before expenses)
					Expenses paid						Expenses paid					Days in
					during the period						during the period					the		Days
	Beginning		Ending Account		October 31, 2008		Beginning		Ending Account		October 31,		Annualized			current		in the
	Account Value		Value		through		Account Value		Value		2008 through		expense			1/2		full
	October 31, 2008		April 30, 2009		April 30, 2009		October 31, 2008		April 30, 2009		April 30, 2009		ratio			year		year
Class R3	$	1,000.00	$	967.42	$	1.85	$	1,000.00	$	1,022.91	$	1.90		0.38	%		181		365
Class R4	$	1,000.00	$	968.90	$	0.39	$	1,000.00	$	1,024.39	$	0.40		0.08			181		365
Class R5	$	1,000.00	$	968.98	$	0.14	$	1,000.00	$	1,024.64	$	0.15		0.03			181		365

19

The Hartford Tax-Free California Fund

Table of Contents

Manager Discussions (Unaudited)	2
Financial Statements
Schedule of Investments at April 30, 2009 (Unaudited)	4
Statement of Assets and Liabilities at April 30, 2009 (Unaudited)	7
Statement of Operations for the Six Month Period Ended April 30, 2009 (Unaudited)	8
Statement of Changes in Net Assets for the Six Month Period Ended April 30, 2009 (Unaudited) and the Year Ended October 31, 2008	9
Notes to Financial Statements (Unaudited)	10
Financial Highlights (Unaudited)	19
Directors and Officers (Unaudited)	20
How to Obtain a Copy of the Fund’s Proxy Voting Policies and Proxy Voting Records (Unaudited)	22
Quarterly Portfolio Holdings Information (Unaudited)	22
Expense Example (Unaudited)	23

The Hartford Tax-Free California Fund
(subadvised by Hartford Investment Management Company)

Performance Overview(1) 10/31/02 — 4/30/09
Growth of a $10,000 investment in Class A which includes Sales Charge

Barclays Capital California Municipal Bond Index is an unmanaged index of municipal bonds issued by the State of California with maturities greater than two years.

You cannot invest directly in an index.

The value of shares will fluctuate so that, when redeemed, shares may be worth more or less than their original cost. The chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.

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

Investment objective — Seeks to provide current income exempt from both federal and California income tax.

Average Annual Total Returns(2,3) (as of 4/30/09)

	Inception		1			5			Since
	Date		Year			Year			Inception
Tax-Free California A#		10/31/02		-11.27	%		0.03	%		0.76	%
Tax-Free California A##		10/31/02		-15.26	%		-0.89	%		0.05	%
Tax-Free California B#		10/31/02		-11.86	%		-0.72	%		0.00	%
Tax-Free California B##		10/31/02		-16.09	%		-1.06	%		0.00	%
Tax-Free California C#		10/31/02		-11.93	%		-0.74	%		0.03	%
Tax-Free California C##		10/31/02		-12.77	%		-0.74	%		0.03	%

#	Without sales charge
##	With sales charge

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)	Growth of a $10,000 investment in Classes B and C shares will vary from results seen above due to differences in the expenses charged to these share classes.
(2)	The initial investment in Class A shares reflects the maximum sales charge and Classes B and C reflect CDSC.
(3)	Total returns presented above were calculated using the Fund’s net asset value available to shareholders for sale or redemption of Fund shares on April 30, 2009, which excludes investment transactions as of this date.

Portfolio Managers
Charles Grande*	Christopher Bade
Executive Vice President	Vice President

How did the Fund perform?

The Class A shares of The Hartford Tax-Free California Fund returned 1.52%, before sales charge, for the six-month period ended April 30, 2009, versus its benchmark, the Barclays Capital California Municipal Bond Index, which returned 7.13% and the 5.06% average return of the Lipper California Municipal Debt Funds category, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

The Fund’s performance can be divided into two distinct periods. The first period, November through mid-December 2008, was characterized by weak liquidity and increasingly wider credit spreads (the incremental yield an investor receives for taking on greater credit risk) in the municipal market due to the continued credit crisis, general economic weakness, and an investor flight to quality.

During the latter part of 2008 a large number of mutual funds were selling high yield municipal bonds at any price to raise cash to meet significant fund redemptions. This selling pressure and a severe lack of demand for lower rated bonds pushed yields significantly higher (prices lower) and credit spreads significantly wider for all but the highest quality municipal bonds. During this time, the Fund’s significant overweight (i.e. the Fund’s sector position was greater than the benchmark position) to lower rated credits compared to the benchmark resulted in severe underperformance. The Fund held on average 40% to triple-B and non-investment grade bonds versus only 6% for the benchmark. Duration (i.e. sensitivity to

2

changes in interest rates) positioning also dampened performance as the curve steepened affecting longer maturity bond exposures (22+ years).

The second distinct period of performance began in late December (when the municipal market appeared to be oversold and pricing became extremely attractive) and continued through April 2009. During this period, the market saw a positive reversal of municipal mutual fund flows and improved liquidity in the market. In addition, a renewed appetite for riskier credits led to spread tightening (i.e. short and long term interest rates moving closer together) and better overall performance for lower rated municipals. During this time, the Fund outperformed its benchmark, however this performance was not enough to offset the losses earlier in the fiscal year.

The Fund’s primary drivers of underperformance relative (i.e. performance of the Fund as measured against the benchmark) to the benchmark over the full six-month period were security selection, sector concentration and curve positioning. Security selection in and a relative overweight to tobacco and non-rated special assessment bonds dragged down performance especially in November and December of 2008. A significant underweight (i.e. the Fund’s sector position was less than the benchmark position) to the state sector also hurt performance during this period of technical improvement, even though California remains under severe financial pressure in this current economic environment. On a security level our exposure to special assessment bonds in California also hindered performance. The national housing slowdown hit California particularly hard, and the state has seen unprecedented levels of delinquencies and foreclosures. Longer duration and longer maturity bond exposures also hurt performance earlier in the period.

What is the outlook?

During this period of weak credit and economic conditions, we continue to actively purchase high quality municipal bonds at wider spreads, which has contributed to an increase in the Fund’s overall credit rating (from Baa1 to A3). We still remain very cautious on lower rated bonds given our general negative outlook on credit fundamentals. Budget challenges for state and local governments, downward ratings migration, and the ongoing “headline risk” could potentially cause credit spreads to widen again.

Municipals continue to represent excellent relative value versus taxable alternatives. The favorable steepness in the municipal curve will provide the opportunity to extend out longer on the curve (effectively purchase longer duration municipal bonds) for additional yield, and the wider credit spreads continue to fully compensate investors for the additional risks in the market. Although we do not expect many defaults during this recession, we do expect that the weakening of credit fundamentals will lead to downward ratings migration. However, we believe that the announcement of higher federal taxes under the Obama administration will make municipals an even more attractive long-term investment.

At a meeting held on February 4, 2009, the Board of Directors of The Hartford Mutual Funds, Inc. approved on behalf of The Hartford Tax-Free California Fund (the “Acquired Fund”) and the Board of Directors of The Hartford Mutual Funds II, Inc. approved on behalf of The Hartford Tax-Free National Fund (the “Acquiring Fund”), the reorganization of the Acquired Fund with and into the Acquiring Fund (the “Reorganization”).

Since the close of business on February 13, 2009, shares of the Acquired Fund are no longer being sold to new investors or existing shareholders (except through reinvested dividends) nor are they eligible for exchanges from other Hartford Mutual Funds.

The Board of Directors of The Hartford Mutual Funds has called for a Special Meeting of Shareholders of the Acquired Fund (the “Meeting”) to be held on or about July 16, 2009, for the purpose of seeking the approval of the Agreement and Plan of Reorganization (the “Reorganization Agreement”) by the shareholders of the Acquired Fund.

* Effective June 26, 2009, Charles Grande will no longer manage assets for the Fund.

Distribution by Credit Quality
as of April 30, 2009

	Percentage of
	Long Term
Rating	Holdings
AAA		3.1	%
AA		30.3
A		29.2
BBB		16.3
BB		1.2
Not Rated		19.9
Total		100.0	%

Diversification by Industry
as of April 30, 2009

	Percentage of
Industry	Net Assets
Airport Revenues		2.3	%
General Obligations		11.6
Health Care/Services		16.0
Higher Education (Univ., Dorms, etc.)		13.6
Housing (HFA’S, etc.)		3.2
Industrial		3.6
Miscellaneous		2.2
Public Facilities		2.2
Refunded With U.S. Government Securities		3.3
Special Tax Assessment		11.0
Tax Allocation		9.2
Utilities — Electric		7.0
Utilities — Water and Sewer		6.6
Short-Term Investments		7.2
Other Assets and Liabilities		1.0
Total		100.0	%

3

The Hartford Tax-Free California Fund

Schedule of Investments

April 30, 2009 (Unaudited)

(000’s Omitted)

Shares or Principal Amount			Market Value ╪
MUNICIPAL BONDS - 91.8%
		Airport Revenues - 2.3%
		San Jose, CA, Airport Rev AMT,
$	1,000	5.00%, 03/01/2037	$	800
		General Obligations - 11.6%
		California State,
	525	6.50%, 04/01/2033		565
		Chabot-Las Positas, CA, Community College Dist,
	1,895	5.05%, 08/01/2033 o		378
		Los Alamitos California University,
	500	5.50%, 08/01/2033		517
		Los Angeles, CA, Community College Dist,
	1,000	5.00%, 08/01/2033		981
		Puerto Rico Commonwealth,
	500	5.50%, 07/01/2032		440
		San Bernardino Community College Dist,
	500	6.38%, 08/01/2026		564
		Torrance USD,
	500	5.50%, 08/01/2025		533
				3,978
		Health Care/Services - 16.0%
		California ABAG FA for Non-Profit Corps, San Diego Hospital Assoc,
	200	5.38%, 03/01/2021		182
		California Health Fac FA, Catholic Healthcare West,
	250	5.25%, 07/01/2023		238
	1,000	5.63%, 07/01/2032		952
		California Statewide Community DA, Enloe Medical Center,
	500	5.50%, 08/15/2023		500
		California Statewide Community DA, Health Services Rev,
	250	6.00%, 10/01/2023		254
		California Statewide Community DA, St. Joseph Health System,
	1,500	5.13%, 07/01/2024		1,462
		Rancho Mirage, CA, Joint Powers FA Rev, Eisenhower Medical Center,
	500	5.00%, 07/01/2038		400
		Sierra View, CA, Local Health Care Dist,
	1,000	5.25%, 07/01/2032		805
		Turlock, CA, Health Fac Rev, Emanuel Medical Center,
	500	5.13%, 10/15/2037		337
		Washington Township, CA, Health Care Dist Rev,
	500	5.00%, 07/01/2037		391
				5,521
		Higher Education (Univ., Dorms, etc.) - 13.6%
		California Educational Fac Auth, Dominican University,
	300	5.00%, 12/01/2025		236
		California Educational Fac Auth, Golden Gate University,
	455	5.00%, 10/01/2025		321
		California Educational Fac Auth, La Verne University,
	180	5.00%, 06/01/2031		126
		California Educational Fac Auth, Pitzer College,
	630	5.00%, 04/01/2030		559
		California Educational Fac Auth, University of Southern California,
	500	5.25%, 10/01/2038		513
		California Educational Fac Auth, Woodbury University,
	200	5.00%, 01/01/2025		143
		California Municipal FA, University Students Coop Assoc,
	250	4.75%, 04/01/2027		174
		California Statewide Community DA, California Baptist University,
	1,000	5.50%, 11/01/2038		604
		California Statewide Community DA, CHF- Irvine, LLC,
	700	5.75%, 05/15/2032		565
		California Statewide Community DA, Drew School,
	750	5.30%, 10/01/2037		470
		California Statewide Community DA, Huntington Park Rev,
	600	5.15%, 07/01/2030		401
		California Statewide Community DA, Thomas Jefferson School of Law,
	500	7.25%, 10/01/2032		389
		California Statewide Community DA, Windrush School,
	250	5.50%, 07/01/2037		166
				4,667
		Housing (HFA’S, etc.) - 3.2%
		Monterey County, CA, Certificate of Participation,
	500	4.50%, 08/01/2037		421
		Puerto Rico Housing FA,
	665	5.13%, 12/01/2027		680
				1,101
		Industrial - 3.6%
		California State Enterprise Auth, Sewer FA Rev AMT,
	500	5.30%, 09/01/2047		351
		Chula Vista, CA, IDR Daily San Diego Gas,
	300	5.30%, 07/01/2021		290
		Sacramento, CA, Pollution Control FA AMT,
	500	4.75%, 12/01/2023		460
		Virgin Islands Public FA Rev AMT,
	250	4.70%, 07/01/2022		154
				1,255
		Miscellaneous - 2.2%
		Kern County, CA, Tobacco Securitization Agency,
	1,000	6.00%, 06/01/2029		756
		Public Facilities - 2.2%
		California Public Works Board, Dept of Health Services Richmond Lab,
	300	5.00%, 11/01/2030		261

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

4

Shares or Principal Amount			Market Value ╪
MUNICIPAL BONDS - 91.8% — (continued)
		Public Facilities - 2.2% — (continued)
		California Public Works Board, Dept of Mental Health Patton,
$	200	5.38%, 04/01/2028	$	188
		Sacramento, CA, FA Lease Rev MBIA AMT,
	345	0.97%, 07/15/2027 Δ		300
				749
		Refunded With U.S. Government Securities - 3.3%
		Beaumont, CA, FA Local Agency Rev Ser A,
	50	7.25%, 09/01/2020		55
		California Statewide Community DA, Thomas Jefferson School of Law,
	175	4.88%, 10/01/2035		194
		Contra Costa County, CA, Public FA Tax Allocation,
	330	5.63%, 08/01/2033		383
		Oakland, CA, Redev Agency Tax Allocation, Colliseum Area Redev,
	250	5.25%, 09/01/2033		285
		Santa Margarita, CA, Water Dist Special Tax Community Fac Dist,
	200	6.00%, 09/01/2030		234
				1,151
		Special Tax Assessment - 11.0%
		Aliso Viejo, CA, Community Fac Dist Special Tax,
	500	6.00%, 09/01/2038		361
		Beaumont, CA, FA Improvement Area #8,
	250	5.05%, 09/01/2037 ⌂		155
		Carlsbad, CA, Special Tax,
	260	6.05%, 09/01/2028		210
		Hemet, CA, USD Community Fac Dist Special Tax #2005-1,
	250	5.13%, 09/01/2036		176
		Hemet, CA, USD Community Fac Dist Special Tax #2005-3,
	500	5.75%, 09/01/2039		317
		Imperial, CA, Special Tax Community Fac,
	325	5.00%, 09/01/2026 ⌂		220
		Indio, CA, Public Improvement Act Special Assessment #2002-3 GO,
	57	6.35%, 09/02/2027		47
		Irvine, CA, Improvement Bond Act 1915,
	300	5.00%, 09/02/2030 ⌂		206
		Lake Elsinore, CA, Special Tax Community Fac Dist #2005-1A,
	200	5.35%, 09/01/2036 ⌂		132
		Lake Elsinore, CA, Special Tax Community Fac Dist #2005-6,
	150	5.00%, 09/01/2030 ⌂		100
		Lake Elsinore, CA, Special Tax Community Fac Dist #2-A,
	100	5.85%, 09/01/2024 ⌂		80
		Lee Lake, CA, Water Dist Community Fac Dist #3 Special Tax Retreat,
	150	5.75%, 09/01/2023 ⌂		121
		Perris, CA, Public FA Local Agency Rev,
	1,000	5.80%, 09/01/2038 ⌂		712
		Roseville, CA, FA Special Tax Rev,
	500	5.00%, 09/01/2033		326
		Roseville, CA, Special Tax Dist Westpark,
	200	5.25%, 09/01/2025		142
		Val Verde, CA, USD FA Special Tax Rev Jr Lien,
	200	6.00%, 10/01/2021		172
		William S Hart USD Special Tax,
	300	5.25%, 09/01/2026		207
	125	5.85%, 09/01/2022		104
				3,788
		Tax Allocation - 9.2%
		Burbank, CA, FA Rev South San Fernando Redev Proj,
	350	5.50%, 12/01/2023		287
		Contra Costa County, CA, Public FA Tax Allocation,
	70	5.63%, 08/01/2033		56
		Corona, CA, Redev Agency Tax Allocation,
	300	4.50%, 11/01/2032		243
		Fontana, CA, Redev Agency Tax Allocation Ref, Jurupa Hills Redev Proj,
	400	5.50%, 10/01/2027		390
		Huntington Park, CA, Public FA Rev Ref,
	400	5.25%, 09/01/2019		417
		Madera, CA, Redev Agency Tax Rev,
	750	5.25%, 09/01/2030		635
		Oceanside, CA, Community Development Committee, Downtown Redev Proj,
	300	5.70%, 09/01/2025		261
		Riverside County, CA, Public FA Tax Allocation, Jurupa Desert & Interstate 215,
	200	4.50%, 10/01/2037		135
		San Diego, CA, Redev Agency Tax Allocation, North Park Redev Proj,
	175	5.30%, 09/01/2016		176
		San Diego, CA, Redev Agency, Centre City Sub Pkg,
	200	5.25%, 09/01/2026		173
		Temecula, CA, Redev Agency Tax Allocation Rev,
	250	5.63%, 12/15/2038		189
		Virgin Islands Public FA Rev,
	300	4.25%, 10/01/2029		221
				3,183
		Utilities — Electric - 7.0%
		California State Dept of Water Resources Supply Rev,
	500	5.00%, 05/01/2022		526
		Imperial, CA, Irrigation Dist Electric Rev,
	900	5.00%, 11/01/2033		871
		Modesto, CA, Irrigation Dist,
	500	5.50%, 07/01/2035		475
		Southern California Public Power Auth,
	500	5.00%, 07/01/2023		521
				2,393
		Utilities — Water and Sewer - 6.6%
		Big Bear Municipal Water Dist, Ref Lake Improvements,
	250	5.00%, 11/01/2024		211
		California State Public Works Board,
	170	6.13%, 04/01/2029		172

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

5

The Hartford Tax-Free California Fund
Schedule of Investments — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

Shares or Principal Amount					Market Value ╪
MUNICIPAL BONDS - 91.8% — (continued)
		Utilities — Water and Sewer - 6.6% — (continued)
		El Dorado Irrigation Dist,
$	300	5.38%, 08/01/2024			$	306
		Lathrop, CA, FA Rev Water Supply Proj,
	250	6.00%, 06/01/2035				191
		Los Angeles Dept of Water & Power Waterworks,
	500	5.00%, 07/01/2025				518
		San Diego Public Fac FA Water Rev,
	500	5.25%, 08/01/2038				496
		Stockton, CA, Wastewater System Proj MBIA,
	375	5.20%, 09/01/2029				361
						2,255
		Total municipal bonds (cost $36,889)			$	31,597
		Total long-term investments (cost $36,889)			$	31,597
SHORT-TERM INVESTMENTS - 7.2%
		Investment Pools and Funds - 7.2%
	2,486	Dreyfus Basic California Municipal Money Market Fund			$	2,486
		Total short-term investments (cost $2,486)			$	2,486
		Total investments (cost $39,375) ▲	99.0	%	$	34,083
		Other assets and liabilities	1.0	%		348
		Total net assets	100.0	%	$	34,431

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

▲ At April 30, 2009, the cost of securities for federal income tax purposes was $39,375 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	355
Unrealized Depreciation		(5,647	)
Net Unrealized Depreciation	$	(5,292	)

Δ	Variable rate securities; the rate reported is the coupon rate in effect at April 30, 2009.
o	The interest rate disclosed for these securities represents the effective yield on the date of the acquisition.
⌂	The following securities are considered illiquid. Illiquid securities are often purchased in private placement transactions, are often not registered under the Securities Act of 1933 and may have contractual restrictions on resale. A security may also be considered illiquid if the security lacks a readily available market or if its valuation has not changed for a certain period of time.

Period	Shares/			Cost
Acquired	Par		Security	Basis
11/2006	$	250	Beaumont, CA, FA Improvement Area #8, 5.05%, 09/01/2037	$250
11/2006	$	325	Imperial, CA, Special Tax Community Fac, 5.00%, 09/01/2026	325
06/2007	$	300	Irvine, CA, Improvement Bond Act 1915, 5.00%, 09/02/2030	296
01/2006	$	200	Lake Elsinore, CA, Special Tax Community Fac Dist #2005-1A, 5.35%, 09/01/2036	200
04/2007	$	150	Lake Elsinore, CA, Special Tax Community Fac Dist #2005-6, 5.00%, 09/01/2030	150
02/2004	$	100	Lake Elsinore, CA, Special Tax Community Fac Dist #2-A, 5.85%, 09/01/2024	100
02/2004	$	150	Lee Lake, CA, Water Dist Community Fac Dist #3 Special Tax Retreat, 5.75%, 09/01/2023	150
11/2007	$	1,000	Perris, CA, Public FA Local Agency Rev, 5.80%, 09/01/2038	1,000

The aggregate value of these securities at April 30, 2009 was $1,726 which represents 5.01% of total net assets.

AMT	-	Alternative Minimum Tax
DA	-	Development Authority
FA	-	Finance Authority
GO	-	General Obligations
IDR	-	Industrial Development Revenue Bond
MBIA	-	Municipal Bond Insurance Association
USD	-	United School District

╪ See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of securities.

FAS 157 Disclosure of Investment Valuation Hierarchy Levels

Assets:
Investment in securities — Level 1	$	2,486
Investment in securities — Level 2		31,597
Total	$	34,083

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

6

The Hartford Tax-Free California Fund

Statement of Assets and Liabilities

April 30, 2009 (Unaudited)

(000’s Omitted)

Assets:
Investments in securities, at fair value (cost $39,375)	$	34,083
Receivables:
Fund shares sold		2
Dividends and interest		492
Other asset		7
Total assets		34,584
Liabilities:
Payables:
Fund shares redeemed		98
Investment management fees		3
Dividends		41
Distribution fees		3
Accrued expenses		8
Total liabilities		153
Net assets	$	34,431
Summary of Net Assets:
Capital stock and paid-in-capital		44,945
Accumulated undistributed net investment income		23
Accumulated net realized loss on investments		(5,245	)
Unrealized depreciation of investments		(5,292	)
Net assets	$	34,431
Shares authorized		250,000
Par value	$	0.001
Class A: Net asset value per share/Maximum offering price per share	$	8.09/$8.47
Shares outstanding		3,322
Net assets	$	26,877
Class B: Net asset value per share	$	8.08
Shares outstanding		134
Net assets	$	1,081
Class C: Net asset value per share	$	8.10
Shares outstanding		799
Net assets	$	6,473

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

7

The Hartford Tax-Free California Fund

Statement of Operations

For the Six Month Period Ended April 30, 2009 (Unaudited)

(000’s Omitted)

Investment Income:
Interest	$	1,040
Total investment income		1,040
Expenses:
Investment management fees		88
Transfer agent fees		6
Distribution fees
Class A		35
Class B		6
Class C		31
Custodian fees		2
Accounting services		2
Registration and filing fees		3
Board of Directors’ fees		1
Audit fees		3
Other expenses		7
Total expenses (before waivers and fees paid indirectly)		184
Expense waivers		(6	)
Custodian fee offset		—
Total waivers and fees paid indirectly		(6	)
Total expenses, net		178
Net investment income		862
Net Realized Loss on Investments:
Net realized loss on investments in securities		(3,216	)
Net Realized Loss on Investments		(3,216	)
Net Changes in Unrealized Appreciation of Investments:
Net unrealized appreciation of investments		2,744
Net Changes in Unrealized Appreciation of Investments		2,744
Net Loss on Investments		(472	)
Net Increase in Net Assets Resulting from Operations	$	390

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

8

The Hartford Tax-Free California Fund

Statement of Changes in Net Assets

(000’s Omitted)

	For the Six-Month
	Period Ended			For the
	April 30, 2009			Year Ended
	(Unaudited)			October 31, 2008
Operations:
Net investment income	$	862		$	1,913
Net realized loss on investments		(3,216	)		(1,757	)
Net unrealized appreciation (depreciation) of investments		2,744			(7,734	)
Net increase (decrease) in net assets resulting from operations		390			(7,578	)
Distributions to Shareholders:
From net investment income
Class A		(712	)		(1,620	)
Class B		(25	)		(64	)
Class C		(134	)		(211	)
Total distributions		(871	)		(1,895	)
Capital Share Transactions:
Class A		(3,235	)		754
Class B		(238	)		(253	)
Class C		778			1,848
Net increase (decrease) from capital share transactions		(2,695	)		2,349
Net decrease in net assets		(3,176	)		(7,124	)
Net Assets:
Beginning of period		37,607			44,731
End of period	$	34,431		$	37,607
Accumulated undistributed net investment income	$	23		$	32

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

9

The Hartford Tax-Free California Fund

Notes to Financial Statements

April 30, 2009 (Unaudited)

(000’s Omitted)

1.	Organization:
	The Hartford Mutual Funds, Inc. (“Company”) is an open-end management investment company comprised of fifty-two portfolios. Financial statements for The Hartford Tax-Free California Fund (the “Fund”), a series of the Company, are included in this report.
	The Company is organized under the laws of the State of Maryland and is registered with the Securities and Exchange Commission (“SEC”) under the Investment Company Act of 1940, as amended (“1940 Act”). The Fund is a non-diversified open-end management investment company.
	Class A shares are sold with a front-end sales charge of up to 4.50%. Class B shares are sold with a contingent deferred sales charge which is assessed on the lesser of the per share net asset value (“NAV”) of the shares at the time of redemption or the original purchase price, and declines from up to 5.00% to zero depending on the period of time the shares are held. Class C shares are sold with a contingent deferred sales charge of up to 1.00% on shares redeemed within twelve months of purchase. All classes of shares have identical voting, redemption, dividend, liquidation and other rights and the same terms and conditions, with the exceptions that each class may have different expenses, which may affect performance, and except that Class B shares automatically convert to Class A shares after 8 years.
	Effective at the close of business on September 30, 2009 (the “Close Date”), no new or additional investments will be allowed in Class B shares of The Hartford Mutual Funds (including investments through any systematic investment plan). After the Close Date, existing shareholders of Class B shares may continue to hold their Class B shares, exchange their Class B shares for Class B shares of another Hartford Mutual Fund (as permitted by existing exchange privileges), and redeem their Class B shares as described in the Fund’s prospectus. Reinstatement privileges with respect to Class B shares will continue under the current policy. If you have chosen to reinvest capital gains and dividends, any such capital gains or dividends on Class B shares will continue to be reinvested in Class B shares of the Fund. For Class B shares outstanding as of the Close Date, all Class B share attributes, including the 12b-1 fee, contingent deferred sales charge schedule, and conversion to Class A shares remain unchanged.
2.	Significant Accounting Policies:
	The following is a summary of significant accounting policies of the Fund, which are in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”).

a)	Security Transactions and Investment Income - Security transactions are recorded on the trade date (the date the order to buy or sell is executed). Security gains and losses are determined on the basis of identified cost.
	Interest income, including amortization of premium and accretion of discounts, is accrued on a daily basis.
b)	Security Valuation — The Fund generally uses market prices in valuing portfolio securities. If market prices are not readily available or are deemed unreliable, the Fund will use the fair value of the security as determined in good faith under policies and procedures established by and under the supervision of the Fund’s Board of Directors. Market prices may be deemed unreliable, for example, if a security is thinly traded or if an event has occurred after the close of the security’s primary markets, but before the close of the New York Stock Exchange (the “Exchange”) (normally 4:00 p.m. Eastern Time, referred to as the “Valuation Time”) that is expected to affect the value of the portfolio security. The circumstances in which the Fund may use fair value pricing include, among others: (i) the occurrence of events that are significant to a particular issuer, such as mergers, restructuring or defaults; (ii) the occurrence of events that are significant to an entire market, such as natural disasters in a particular region or governmental actions; (iii) trading restrictions on securities; (iv) thinly traded securities and (v) market events such as trading halts and early market closings.

10

	Debt securities (other than short-term obligations) held by the Fund are valued on the basis of valuations furnished by an independent pricing service which determines valuations for normal institutional size trading units of debt securities. Securities for which prices are not available from an independent pricing service are valued using market quotations obtained from one or more dealers that make markets in the securities in accordance with procedures established by the Fund’s Board of Directors. Generally, the Fund may use fair valuation in regard to debt securities when the Fund holds defaulted or distressed securities or securities in a company in which a reorganization is pending. Short-term investments with a maturity of more than 60 days when purchased are valued based on market quotations until the remaining days to maturity become less than 61 days. Investments that mature in 60 days or less are valued at amortized cost, which approximates market value.
	Financial instruments for which prices are not available from an independent pricing service are valued using market quotations obtained from one or more dealers that make markets in securities in accordance with procedures established by the Fund’s Board of Directors.
	Other derivative or contractual type instruments shall be valued using market prices if such instruments trade on an exchange or market. If such instruments do not trade on an exchange or market, such instruments shall be valued at a price at which the counterparty to such contract would repurchase the instrument. In the event that the counterparty cannot provide a price, such valuation may be determined in accordance with procedures established by the Fund’s Board of Directors.
	Investments in open-end mutual funds are valued at the respective NAV of each open-end mutual fund on the valuation date.
c)	Joint Trading Account - Pursuant to an exemptive order issued by the SEC, the Fund may transfer uninvested cash balances into a joint trading account managed by Hartford Investment Management Company (“Hartford Investment Management”). These balances may be invested in one or more repurchase agreements and/or short-term money market instruments.
d)	Fund Share Valuation and Dividend Distributions to Shareholders — Orders for the Fund’s shares are executed in accordance with the investment instructions of the shareholders. The NAV of the Fund’s shares is determined as of the close of each business day of the Exchange. The NAV is determined separately for each class of the Fund by dividing the Fund’s net assets attributable to that class by the number of shares of the class outstanding. Orders for the purchase of the Fund’s shares prior to the close of the Exchange on any day on which the Exchange is open for business are priced at the NAV determined as of the close of the Exchange. Orders after the close of the Exchange, or on a day on which the Exchange and/or the Fund is not open for business, are priced at the next determined NAV.
	The Fund intends to distribute substantially all of its net investment income and net realized capital gains to shareholders no less frequently than once a year. Normally, dividends from net investment income are declared daily and paid monthly. Dividends are paid on shares beginning on the business day after the day when the funds used to purchase the shares are collected by the transfer agent for the Fund. Unless shareholders specify otherwise, all dividends will be automatically reinvested in additional full or fractional shares of the Fund.
	Distributions from net investment income, realized capital gains and capital are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP with respect to character and timing. These differences include but are not limited to foreign currency gains and losses, losses deferred due to wash sales adjustments, adjustments related to Passive Foreign Investment Companies and certain derivatives, and excise tax regulations. Permanent book and federal income tax basis differences relating to shareholder distributions will result in reclassifications to certain of the Fund’s capital accounts (see Federal Income Taxes: Reclassification of Capital Accounts footnote).

11

The Hartford Tax-Free California Fund
Notes to Financial Statements — (continued) 
April 30, 2009 (Unaudited)
(000’s Omitted)

e)	Illiquid and Restricted Securities — The Fund is permitted to invest up to 15% of its net assets in illiquid securities. “Illiquid Securities” are those that may not be sold or disposed of in the ordinary course of business within seven days, at approximately the price used to determine the Fund’s NAV. The Fund may not be able to sell illiquid securities or other investments when its sub-adviser considers it desirable to do so or may have to sell such securities or investments at a price that is lower than the price that could be obtained if the securities or investments were more liquid. A sale of illiquid securities or other investments may require more time and may result in higher dealer discounts and other selling expenses than does the sale of those that are liquid. Illiquid securities and investments also may be more difficult to value, due to the unavailability of reliable market quotations for such securities or investments, and investment in them may have an adverse impact on the Fund’s NAV. The Fund may also purchase certain restricted securities, commonly known as Rule 144A securities, that can be resold to institutions and which may be determined to be liquid pursuant to policies and guidelines established by the Fund’s Board of Directors. The Fund, as shown in the Schedule of Investments, had illiquid or restricted securities as of April 30, 2009.
f)	Securities Purchased on a When-Issued or Delayed-Delivery Basis — Delivery and payment for securities that have been purchased by the Fund on a forward commitment, or when-issued or delayed-delivery basis take place beyond the customary settlement period. During this period, such securities are subject to market fluctuations, and the Fund identifies securities segregated in its records with value at least equal to the amount of the commitment. As of April 30, 2009, the Fund had no outstanding when-issued or forward commitments.
g)	Credit Risk — Credit risk depends largely on the perceived financial health of bond issuers. In general, the credit rating is inversely related to the credit risk of the issuer. Higher rated bonds generally are deemed to have less credit risk, while lower or unrated bonds are deemed to have higher risk of default. The share price, yield and total return of a Fund which holds securities with higher credit risk may fluctuate more than with less aggressive bond funds.
h)	Prepayment Risks — Most senior floating rate interests and certain debt securities allow for prepayment of principal without penalty. Senior floating rate interests and securities subject to prepayment risk generally offer less potential for gains when interest rates decline, and may offer a greater potential for loss when interest rates rise. In addition, with respect to securities, rising interest rates may cause prepayments to occur at a slower than expected rate, thereby effectively lengthening the maturity of the security and making the security more sensitive to interest rate changes. Prepayment risk is a major risk of mortgage-backed securities and certain asset-backed securities. Accordingly, the potential for the value of a senior floating rate interest or debt security to increase in response to interest rate declines is limited. For certain asset-backed securities, the actual maturity may be less than the stated maturity shown in the Schedule of Investments. As a result, the timing of income recognition relating to these securities may vary based upon the actual maturity.
i)	Use of Estimates — The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and the reported amounts of income and expenses during the period. Operating results in the future could vary from the amounts derived from management’s estimates.
j)	Financial Accounting Standards Board Financial Accounting Standards No. 157 — Effective November 1, 2008, the Fund adopted Financial Accounting Standards Board (“FASB”) Statement of Financial Accounting Standards No. 157, “Fair Value Measurements” (“FAS 157”). This standard clarifies the definition of fair value for financial reporting, establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements. Fair value is defined under FAS 157 as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Under FAS 157, a fair value measurement should reflect all of the assumptions that market participants would use in pricing the asset or liability, including assumptions about the risk inherent in a particular valuation technique, the effect of a restriction on the sale or use of an asset, and the risk of nonperformance.

12

Various inputs are used in determining the value of the Fund’s investment. These inputs are summarized, per FAS 157, into three broad hierarchy levels. This hierarchy is based on whether the valuation inputs are observable or unobservable. These levels are:

• Level 1 — Quoted prices in active markets for identical securities. Level 1 includes exchange-traded instruments such as domestic equities, some foreign equities, options, futures, mutual funds, ETF’s, and rights and warrants.

• Level 2 — Observable inputs other than Level 1 prices, such as quoted prices for similar securities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the security. Level 2 includes debt securities that are traded less frequently than exchange-traded instruments and that are valued using third party pricing services and foreign equities, whose value is determined using a multi-factor regression model with inputs that are observable in the market; and money market instruments, which are carried at amortized cost.

• Level 3 — Significant unobservable inputs that are supported by little or no market activity. Level 3 includes financial instruments whose values are determined using broker quotes and require significant management judgment or estimation. This category includes broker quoted securities, long dated OTC options and securities where trading has been halted or there are certain restrictions on trading. While these securities are priced using unobservable inputs, the valuation of these securities reflects the best available data and management believes the prices are a good representation of exit price.

	Individual securities within any of the above mentioned asset classes may be assigned a different hierarchical level than those presented above, as individual circumstances dictate.
	FAS 157 also requires that a roll forward reconciliation be shown for all Level 3 securities from the beginning of the reporting period to the end of the reporting period. Part of this reconciliation includes transfers in and/or out of Level 3. For purposes of this reconciliation, transfers in are shown at the end of period fair value and transfers out are shown at the beginning of period fair value. During the six-month period ended April 30, 2009, the Fund held no Level 3 securities.
	Refer to the valuation hierarchy levels summary found following the Schedule of Investments.
	FASB Staff Position No. 157-4 — In April 2009, FASB released FASB Staff Position No. 157-4, “Determining Fair Value When the Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly” (“FSP FAS 157-4”). FSP FAS 157-4 provides additional guidance on determining whether a market for a financial asset is not active and a transaction is not distressed when measuring fair value under FAS 157. The FSP also requires additional disclosure detail on debt and equity securities by major investment categories. FSP FAS 157-4 is effective for interim and annual periods ending after June 15, 2009. At this time, management is evaluating the implications of FSP FAS 157-4 and does not believe it will impact valuation but will require additional disclosure. This additional disclosure has not yet been implemented.
k)	Financial Accounting Standards Board Financial Accounting Standards No. 161 — In March 2008, the FASB released Statement of Financial Accounting Standards No. 161, “Disclosures about Derivative Instruments and Hedging Activities” (“FAS 161”). FAS 161 requires companies to disclose information detailing the objectives and strategies for using derivative instruments, the level of derivative activity entered into by the company and any credit risk-related contingent features of the agreements. The application of FAS 161 is required for fiscal years and interim periods beginning after November 15, 2008. At this time, management is evaluating the implications of FAS 161 and has not yet implemented the new disclosure standard.
l)	Indemnifications: Under the Company’s organizational documents, the Company shall indemnify its officers and directors to the full extent required or permitted under Maryland General Corporation Law and the federal securities law. In addition, the Company, on behalf of the Fund, may enter into contracts that contain a variety of indemnifications. The Company’s maximum exposure under these arrangements is unknown. However, the Company has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote.

13

The Hartford Tax-Free California Fund
Notes to Financial Statements — (continued) 
April 30, 2009 (Unaudited)
(000’s Omitted)

3. Federal Income Taxes:

a)

Federal Income Taxes - For federal income tax purposes, the Fund intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code (“IRC”) by distributing substantially all of its taxable net investment income and net realized capital gains to its shareholders and otherwise complying with the requirements of regulated investment companies. The Fund has distributed substantially all of its income and capital gains in prior years and the Fund intends to distribute substantially all of its income and gains during the calendar year ending December 31, 2009. Accordingly, no provision for federal income or excise taxes has been made in the accompanying financial statements. Distributions from short-term capital gains are treated as ordinary income distributions for federal income tax purposes.

b)

The tax character of distributions paid by the Fund for the periods indicated is as follows (as adjusted for dividends payable):

	For the Year Ended		For the Year Ended
	October 31, 2008		October 31, 2007
Tax Exempt Income †	$	1,845	$	1,337
Ordinary Income		14		—

† The Fund designates these distributions as exempt interest pursuant to IRC Sec. 852(b)(5).

     As of October 31, 2008, the Fund’s components of distributable earnings (deficit) on a tax basis were as follows:

	Amount
Undistributed Ordinary Income	$	98
Accumulated Capital Losses*	$	(2,029	)
Unrealized Depreciation†	$	(8,036	)
Total Accumulated Deficit	$	(9,967	)

*	The Fund has capital loss carryforwards that are identified in the Capital Loss Carryforward note that follows.
†	The differences between book-basis and tax-basis unrealized appreciation (depreciation) are attributable to the tax deferral of wash sales losses, the mark-to-market adjustment for certain derivatives in accordance with IRC Sec. 1256, the mark to market for Passive Foreign Investment Companies and basis differences in real estate investment trusts.

c) Reclassification of Capital Accounts - In accordance with American Institute of Certified Public Accountants (AICPA) Statement of Position 93-2, Determination, Disclosure, and Financial Statement Presentation of Income, Capital Gain, and Return of Capital Distributions by Investment Companies, the Fund has recorded reclassifications in its capital accounts. These reclassifications had no impact on the NAV of the Fund. The reclassifications are a result of permanent differences between GAAP and tax accounting for such items as net operating losses that reduce distribution requirements. Adjustments are made to reflect the impact these items have on current and future distributions to shareholders. Therefore, the source of the Fund’s distributions may be shown in the accompanying Statement of Changes in Net Assets as from net investment income, from net realized gains on investments or from capital depending on the type of book and tax differences that exist. As of October 31, 2008, the Fund had no reclassifications.

14

d) Capital Loss Carryforward - At October 31, 2008 (tax-year-end), the Fund had capital loss carryforwards for U.S. federal income tax purposes of approximately:

Year	Amount
2014	$	5
2015		267
2016		1,757
Total	$	2,029

e) Financial Accounting Standards Board Interpretation No. 48 — On July 13, 2006, the FASB released FASB Interpretation No. 48 “Accounting for Uncertainty in Income Taxes” (“FIN 48”). FIN 48 provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. The Fund adopted FIN 48 for fiscal years beginning after December 15, 2006. Management has evaluated the implications of FIN 48 for all open tax years (tax years ended October 31, 2006 — 2008) and has determined there is no impact to the Fund’s financial statements.

4. Expenses:

a)

Investment Management Agreements — Hartford Investment Financial Services, LLC (“HIFSCO”) serves as investment manager to the Fund pursuant to an Investment Management Agreement with The Hartford Mutual Funds, Inc. As investment manager, HIFSCO has overall investment supervisory responsibility for the Fund. In addition, HIFSCO provides administrative personnel, services, equipment, facilities and office space for proper operation of the Fund. HIFSCO has contracted with Hartford Investment Management for the provision of day-to-day investment management services to the Fund in accordance with the Fund’s investment objective and policies. The Fund pays a fee to HIFSCO, a portion of which may be used to compensate Hartford Investment Management.

The schedule below reflects the rates of compensation paid to HIFSCO for investment management services rendered during the six-month period ended April 30, 2009; the rates are accrued daily and paid monthly:

Average Daily Net Assets	Annual Fee
On first $500 million		0.50	%
On next $4.5 billion		0.45	%
On next $5 billion		0.43	%
Over $10 billion		0.42	%

b) Accounting Services Agreement — Pursuant to the Fund Accounting Agreement between Hartford Life Insurance Company (“HLIC”) and the Fund, HLIC provides accounting services to the Fund and receives monthly compensation on the Fund’s average net assets. The Fund’s accounting service fees are accrued daily and paid monthly.

Average Daily Net Assets	Annual Fee
On first $5 billion		0.014	%
On next $5 billion		0.012	%
Over $10 billion		0.010	%

15

The Hartford Tax-Free California Fund
Notes to Financial Statements — (continued) 
April 30, 2009 (Unaudited)
(000’s Omitted)

c) Operating Expenses - Allocable expenses incurred by the Company are allocated to each Fund and allocated to classes within the Fund in proportion to the average daily net assets of the Fund and each class, except where allocation of certain expenses is more fairly made directly to the Fund or to specific classes within a Fund. During the six-month period ended April 30, 2009, HIFSCO has contractually limited the total operating expenses of this Fund, exclusive of taxes, interest expense, brokerage commissions, certain distribution expenses and extraordinary expenses as follows:

Class A	Class B			Class C
0.85%		1.60	%		1.60	%

d)	Fees Paid Indirectly - The Fund’s custodian bank has agreed to reduce its fees when the Fund maintains cash on deposit in the non-interest-bearing custody account. For the six-month period ended April 30, 2009, this amount is included in the Statement of Operations.
	The ratio of expenses to average net assets in the accompanying financial highlights excludes the reduction in expenses related to fees paid indirectly. Had the fees paid indirectly been included, the annualized expense ratio for the periods listed below would have been as follows:

	Annualized
	Six-Month
	Period			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended
��	Ended April			October 31,			October 31,			October 31,			October 31,			October 31,
	30, 2009			2008			2007			2006			2005			2004
Class A Shares		0.85	%		0.85	%		0.85	%		0.89	%		0.89	%		0.95	%
Class B Shares		1.60			1.60			1.60			1.64			1.64			1.65
Class C Shares		1.60			1.60			1.60			1.64			1.64			1.65

e)	Distribution and Service Plan for Class A, B and C Shares - HIFSCO is the principal underwriter and distributor of the Fund. HIFSCO is engaged in distribution activities, which include marketing and distribution of shares through broker-dealers, financing distribution costs and maintaining financial books and records. For the six-month period ended April 30, 2009, HIFSCO received front-end load sales charges of $70 and contingent deferred sales charges of $82 from the Fund.
	The Fund has adopted Distribution and Service Plans in accordance with Rule 12b-1 of the Investment Company Act of 1940, as amended, to compensate the distributor (HIFSCO) for activities intended to result in the sale and distribution of Classes A, B and C shares and for providing services for shareholders. The Rule 12b-1 plan applicable to Class A shares of the Funds provides for payment of a Rule 12b-1 fee of up to 0.35% of average daily net assets; however, the Board of Directors has currently authorized 12b-1 payments of only up to 0.25%. Some or all of the fee may be used for shareholder servicing expenses with the remainder used for distribution expenses. Some or the entire Rule 12b-1 fee for Class B shares may be remitted to broker-dealers for distribution and/or shareholder account services. Under the Class B Plan, the Fund pays the distributor 1.00% of the average daily net assets of Class B shares that are outstanding for 8 years or less, 0.25% of which is a fee for services provided to existing shareholders with the remainder used for distribution expenses. After eight years, Class B shares convert to Class A shares. Upon conversion to Class A shares, the Class A plan described above will apply to those shares. Under the Class C Plan, the Fund pays the Distributor 1.00% of the average daily net assets of Class C shares outstanding, 0.25% of which is intended as a fee for services provided to existing shareholders with the remainder used for distribution expenses. For Class C shares, some or the entire fee may be remitted to broker-dealers for distribution and/or shareholder account services. The Fund’s 12b-1 fees are accrued daily and paid monthly.
	For the six-month period ended April 30, 2009, total sales commissions paid to affiliated brokers/dealers of The Hartford for distributing the Fund’s shares were $1. These commissions are in turn paid to sales representatives of the broker/dealers.

16

f) Other Related Party Transactions — Certain officers of the Fund are directors and/or officers of HIFSCO and/or The Hartford or its subsidiaries. For the six-month period ended April 30, 2009, a portion of the Fund’s chief compliance officer’s salary was paid by the Fund in an amount, which rounds to zero. Hartford Administrative Services Company (“HASCO”), an indirect wholly owned subsidiary of The Hartford, provides transfer agent services to the Fund. HASCO was compensated $6 for providing such services. These fees are accrued daily and paid monthly.

5. Affiliate Holdings:

As of April 30, 2009, affiliates of The Hartford had ownership of shares in the Fund as follows:

	Shares
Class A		540

6. Investment Transactions:

For the six-month period ended April 30, 2009, the Fund’s aggregate purchases and sales of investment securities (excluding short-term investments) were as follows:

	Amount
Cost of Purchases Excluding U.S. Government Obligations	$	6,086
Sales Proceeds Excluding U.S. Government Obligations		8,349

7. Capital Share Transactions:

The following information is for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	For the Six-Month Period Ended April 30, 2009												For the Year Ended October 31, 2008
			Shares					Shares							Shares					Shares
			Issued for					Issued		Net Increase					Issued for					Issued		Net Increase
	Shares		Reinvested		Shares			from		(Decrease) of			Shares		Reinvested		Shares			from		(Decrease) of
	Sold		Dividends		Redeemed			Merger		Shares			Sold		Dividends		Redeemed			Merger		Shares
Class A
Shares		399		64		(881	)		—		(418	)		2,757		127		(2,849	)		—		35
Amount	$	3,107	$	506	$	(6,848	)	$	—	$	(3,235	)	$	25,926	$	1,192	$	(26,364	)	$	—	$	754
Class B
Shares		1		2		(33	)		—		(30	)		38		5		(69	)		—		(26	)
Amount	$	3	$	19	$	(260	)	$	—	$	(238	)	$	357	$	46	$	(656	)	$	—	$	(253	)
Class C
Shares		141		10		(53	)		—		98			443		14		(262	)		—		195
Amount	$	1,117	$	78	$	(417	)	$	—	$	778		$	4,219	$	133	$	(2,504	)	$	—	$	1,848

The following reflects the conversion of Class B Shares into Class A Shares (reflected as Class A Shares issued and Class B shares redeemed) for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	Shares		Dollars
For the Six-Month Period Ended April 30, 2009		—	$	—
For the Year Ended October 31, 2008		6	$	60

17

The Hartford Tax-Free California Fund
Notes to Financial Statements — (continued) 
April 30, 2009 (Unaudited)
(000’s Omitted)

8.	Line of Credit:
	The Fund is one of several Hartford Funds that participate in a $500 million committed revolving line of credit facility. The facility is to be used for temporary or emergency purposes. Under the arrangement, the Fund is required to own securities having a market value in excess of 300% of the total bank borrowings. The interest rate on borrowings varies depending on the nature of the loan. The facility also requires a fee to be paid based on the amount of the commitment. During the six-month period ended April 30, 2009, the Fund did not have any borrowings under this facility.
9.	Proposed Reorganization:
	At a meeting held on February 4, 2009, the Board of Directors of The Hartford Mutual Funds, Inc. approved on behalf of The Hartford Tax-Free California Fund (the “Acquired Fund”) and the Board of Directors of The Hartford Mutual Funds II, Inc. approved on behalf of The Hartford Tax-Free National Fund (the “Acquiring Fund”), the reorganization of the Acquired Fund with and into the Acquiring Fund (the “Reorganization”).
	Since the close of business on February 13, 2009, shares of the Acquired Fund are no longer being sold to new investors or existing shareholders (except through reinvested dividends) nor are they eligible for exchanges from other Hartford Mutual Funds.
	The Board of Directors of The Hartford Mutual Funds has called for a Special Meeting of Shareholders of the Acquired Fund (the “Meeting”) to be held on or about July 16, 2009, for the purpose of seeking the approval of the Agreement and Plan of Reorganization (the “Reorganization Agreement”) by the shareholders of the Acquired Fund.
	If the Reorganization Agreement is approved by the shareholders of the Acquired Fund, the Reorganization Agreement contemplates: (1) the transfer of all of the assets of the Acquired Fund to the Acquiring Fund in exchange for shares of the Acquiring Fund having an aggregate value equal to the net assets of the Acquired Fund; (2) the assumption by the Acquiring Fund of all of the liabilities of the Acquired Fund; and (3) the distribution of shares of the Acquiring Fund to the shareholders of the Acquired Fund in complete liquidation of the Acquired Fund. Each shareholder of the Acquired Fund would receive shares of the Acquiring Fund equal in value to the shares of the Acquired Fund held by that shareholder as of the closing date of the Reorganization.

18

The Hartford Tax-Free California Fund

Financial Highlights — (Unaudited)

— Selected Per-Share Data — (a)																											— Ratios and Supplemental Data —
																																		Ratio of			Ratio of			Ratio of
																																		Expenses			Expenses			Expenses
																																		to Average			to Average			to Average
																																		Net Assets			Net Assets			Net Assets
																																		Before			After			After
							Net																											Waivers			Waivers			Waivers
							Realized																											and			and			and			Ratio of
							and Un-									Distrib-								Net										Reimburse-			Reimburse-			Reimburse-			Net
			Net		Pay-		realized						Dividends			utions								Increase			Net							ments and			ments and			ments and			Invest-			Port-
	Net Asset		Invest-		ments		Gain						from Net			from			Distri-					(Decrease)			Asset					Net Assets		Including			Including			Excluding			ment			folio
	Value at		ment		from		(Loss) on			Total from			Invest-			Realized			butions		Total			in Net			Value at					at End of		Expenses			Expenses			Expenses			Income to			Turn-
	Beginning		Income		(to)		Invest-			Investment			ment			Capital			from		Distri-			Asset			End of		Total			Period		not Subject			not Subject			not Subject			Average			over
Class	of Period		(Loss)		Affiliate		ments			Operations			Income			Gains			Capital		butions			Value			Period		Return(b)			(000’s)		to Cap(c)			to Cap(c)			to Cap(c)			Net Assets			Rate(d)
For the Six-Month Period Ended April 30, 2009 (Unaudited)
A	$	8.17	$	0.20	$	—	$	(0.08	)	$	0.12		$	(0.20	)	$	—		$	—	$	(0.20	)	$	(0.08	)	$	8.09		1.52	%(e)	$	26,877		0.88	%(f)		0.85	%(f)		0.85	%(f)		5.03	%(f)		19	%
B		8.15		0.17		—		(0.07	)		0.10			(0.17	)		—			—		(0.17	)		(0.07	)		8.08		1.27	(e)		1,081		1.68	(f)		1.60	(f)		1.60	(f)		4.28	(f)		—
C		8.18		0.17		—		(0.08	)		0.09			(0.17	)		—			—		(0.17	)		(0.08	)		8.10		1.14	(e)		6,473		1.65	(f)		1.60	(f)		1.60	(f)		4.28	(f)		—
For the Year Ended October 31, 2008
A		10.16		0.44		—		(1.99	)		(1.55	)		(0.44	)		—			—		(0.44	)		(1.99	)		8.17		(15.78	)		30,538		0.91			0.85			0.85			4.59			71
B		10.15		0.37		—		(2.01	)		(1.64	)		(0.36	)		—			—		(0.36	)		(2.00	)		8.15		(16.54	)		1,338		1.70			1.60			1.60			3.81			—
C		10.17		0.37		—		(2.00	)		(1.63	)		(0.36	)		—			—		(0.36	)		(1.99	)		8.18		(16.41	)		5,731		1.69			1.60			1.60			3.86			—
For the Year Ended October 31, 2007
A		10.55		0.41		—		(0.39	)		0.02			(0.41	)		—			—		(0.41	)		(0.39	)		10.16		0.16			37,646		0.92			0.85			0.85			3.96			35
B		10.54		0.33		—		(0.39	)		(0.06	)		(0.33	)		—			—		(0.33	)		(0.39	)		10.15		(0.58	)		1,932		1.70			1.60			1.60			3.20			—
C		10.56		0.33		—		(0.39	)		(0.06	)		(0.33	)		—			—		(0.33	)		(0.39	)		10.17		(0.58	)		5,153		1.70			1.60			1.60			3.21			—
For the Year Ended October 31, 2006
A		10.32		0.38		—		0.24			0.62			(0.38	)		(0.01	)		—		(0.39	)		0.23			10.55		6.13			24,796		0.99			0.90			0.90			3.71			2
B		10.31		0.30		—		0.24			0.54			(0.30	)		(0.01	)		—		(0.31	)		0.23			10.54		5.34			1,571		1.77			1.65			1.65			2.96			—
C		10.33		0.30		—		0.24			0.54			(0.30	)		(0.01	)		—		(0.31	)		0.23			10.56		5.33			3,435		1.78			1.65			1.65			2.95			—
For the Year Ended October 31, 2005
A		10.32		0.38		—		—			0.38			(0.38	)		—			—		(0.38	)		—			10.32		3.69			15,601		1.02			0.90			0.90			3.64			31
B		10.31		0.29		—		0.01			0.30			(0.30	)		—			—		(0.30	)		—			10.31		2.92			1,305		1.80			1.65			1.65			2.90			—
C		10.33		0.29		—		0.01			0.30			(0.30	)		—			—		(0.30	)		—			10.33		2.91			1,937		1.80			1.65			1.65			2.90			—
For the Year Ended October 31, 2004
A		9.93		0.38		—		0.41			0.79			(0.40	)		—			—		(0.40	)		0.39			10.32		8.15			14,846		1.03			0.95			0.95			3.85			41
B		9.92		0.34		—		0.38			0.72			(0.33	)		—			—		(0.33	)		0.39			10.31		7.40			1,017		1.84			1.65			1.65			3.12			—
C		9.93		0.32		—		0.41			0.73			(0.33	)		—			—		(0.33	)		0.40			10.33		7.49			1,448		1.85			1.65			1.65			3.06			—

(a)	Information presented relates to a share outstanding throughout the indicated period.
(b)	Assumes initial investment at net asset value at the beginning of each period, reinvestment of all distributions, the complete redemption of the investment at net asset value at the end of each period and no sales charge. Total return would be reduced if sales charges were taken into account.
(c)	Ratios do not include fees paid indirectly (See Expenses in the accompanying Notes to Financial Statements).
(d)	Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between the classes of shares issued.
(e)	Not annualized.
(f)	Annualized.

19

The Hartford Tax-Free California Fund

Directors and Officers (Unaudited)

The Board of Directors appoints officers who are responsible for the day-to-day operations of the Fund and who execute policies formulated by the Directors. Each director serves until his or her death, resignation, or retirement or until the next annual meeting of shareholders is held or until his or her successor is elected and qualifies.

Directors and officers who are employed by or who have a financial interest in The Hartford are considered “interested” persons of the Fund pursuant to the Investment Company Act of 1940, as amended. Each officer and three of the Fund’s directors, as noted in the chart below, are “interested” persons of the Fund. Each director serves as a director for The Hartford Mutual Funds, Inc., The Hartford Mutual Funds II, Inc., The Hartford Income Shares Fund, Inc., Hartford Series Fund, Inc., and Hartford HLS Series Fund II, Inc., which collectively consist of 100 funds. Correspondence may be sent to directors and officers c/o Hartford Mutual Funds, P.O. Box 2999, Hartford, Connecticut 06104-2999, except that correspondence to Ms. Fagely may be sent to 500 Bielenberg Drive, Woodbury, Minnesota 55125.

The table below sets forth, for each director and officer, his or her name, year of birth, current position with the Fund and date first elected or appointed to The Hartford Mutual Funds, Inc. (“MF”) and The Hartford Mutual Funds II, Inc. (“MF2”), principal occupation, and, for directors, other directorships held. The Fund’s statement of additional information contains further information on the directors and is available free of charge by calling 1-888-843-7824 or writing to Hartford Mutual Funds, P.O. Box 64387, St. Paul, MN 55164-0387.

Information on the aggregate remuneration paid to the directors of the Fund can be found in the Statement of Operations herein. The Fund pays a portion of the Chief Compliance Officer’s compensation, but does not pay salaries or compensation to any of its officers or directors who are employed by The Hartford.

Non-Interested Directors

Lynn S. Birdsong (1946) Director since 2003, Co-Chairman of the Investment Committee

Mr. Birdsong is a private investor. Since 1981, Mr. Birdsong has been a partner in Birdsong Company, an advertising specialty firm. Since 2003, Mr. Birdsong has been an independent director of The Japan Fund. From 2003 to March 2005, Mr. Birdsong was an independent director of the Atlantic Whitehall Funds. From 1979 to 2002, Mr. Birdsong was a managing director of Zurich Scudder Investments, an investment management firm. During his employment with Scudder, Mr. Birdsong was an interested director of The Japan Fund.

Robert M. Gavin, Jr. (1940) Director since 2002 (MF) and 1986 (MF2), Chairman of the Board since 2004

Dr. Gavin is an educational consultant. Prior to September 1, 2001, he was President of Cranbrook Education Community and prior to July 1996, he was President of Macalester College, St. Paul, Minnesota.

Duane E. Hill (1945) Director since 2001 (MF) and 2002 (MF2), Chairman of the Nominating Committee

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

Sandra S. Jaffee (1941) Director since 2005

Ms. Jaffee is Chairman and Chief Executive Officer of Fortent (formerly Searchspace Group), a leading provider of compliance/regulatory technology to financial institutions. Ms. Jaffee served as an Entrepreneur in Residence with Warburg Pincus, a private equity firm, from August 2004 to August 2005. From September 1995 to July 2004, Ms. Jaffee served as Executive Vice President at Citigroup, where she was President and Chief Executive Officer of Citibank’s Global Securities Services (1995-2003).

William P. Johnston (1944) Director since 2005, Chairman of the Compliance Committee

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

20

Phillip O. Peterson (1944) Director since 2002 (MF) and 2000 (MF2), Chairman of the Audit Committee

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

Lemma W. Senbet (1946) Director since 2005

Dr. Senbet is the William E. Mayer Chair Professor of Finance at the University of Maryland, Robert H. Smith School of Business. He was chair of the Finance Department during 1998-2006. Previously he was an endowed professor of finance at the University of Wisconsin-Madison. Also, he was director of the Fortis Funds from March 2000-July 2002. Dr. Senbet served the finance profession in various capacities, including as director of the American Finance Association and President of the Western Finance Association. In 2006, Dr. Senbet was inducted Fellow of Financial Management Association International for his career-long distinguished scholarship and professional service.

Interested Directors and Officers

Thomas M. Marra* (1958) Director since 2002

Mr. Marra has served as President and Chief Operating Officer of The Hartford Financial Services Group, Inc. (“The Hartford”) since 2007. Mr. Marra currently serves as Director of Hartford Life, Inc. (“HL, Inc.”). Mr. Marra served as Chief Operating Officer of Hartford Life Insurance Company, Inc. (“Hartford Life”) (2000-2008), as President of Hartford Life (2002-2008) and as Director of Hartford Life’s Investment Products Division from 1998 to 2000.

* On February 24, 2009, The Hartford and Mr. Marra determined to enter into a mutually agreed separation whereby Mr. Marra will retire, and his role as an executive officer and employee of The Hartford will terminate, effective July 3, 2009. Mr. Marra will resign his position as a Director of the Fund effective June 25, 2009.

Lowndes A. Smith (1939) Director since 2002, Co-Chairman of the Investment Committee

Mr. Smith served as Vice Chairman of The Hartford from February 1997 to January 2002, as President and Chief Executive Officer of Hartford Life, Inc. from February 1997 to January 2002, and as President and Chief Operating Officer of The Hartford Life Insurance Companies from January 1989 to January 2002. Mr. Smith serves as a Director of White Mountains Insurance Group, Ltd., One Beacon Insurance, Symetra Financial and as a Managing Director of Whittington Gray Associates.

John C. Walters* (1962) Director since 2008

Mr. Walters currently serves as Chief Executive Officer, President and Director of HL, Inc. Mr. Walters previously served as President of the U.S. Wealth Management Division of Hartford Life, Inc., as Co-Chief Operating Officer of Hartford Life Insurance Company (2007-2008) and as Executive Vice President and Director of its Investment Products Division (2000-2008). Mr. Walters also serves as Chairman of the Board, Chief Executive Officer, President and Director of Hartford Life Insurance Company and as Executive Vice President of The Hartford. In addition, Mr. Walters is Manager of HL Investment Advisors, LLC (“HL Advisors”).

* Mr. Walters previously served as President and Chief Executive Officer of the Fund (2007 — 2009).

Other Officers

Robert M. Arena, Jr. (1968) President and Chief Executive Officer since 2009 (served as Vice President of the Fund (2006 — 2009))

Mr. Arena serves as Executive Vice President of Hartford Life Insurance Company, (“Hartford Life”). Additionally, Mr. Arena is Director and Senior Vice President of Hartford Administrative Services Company, (“HASCO”), Manager, Chief Executive Officer and President of Hartford Investment Financial Services, LLC (“HIFSCO”) and HL Advisors. Prior to joining The Hartford in 2004, he was Senior Vice President in charge of Product Management for American Skandia/Prudential in the individual annuities division. Mr. Arena joined American Skandia in 1996.

Tamara L. Fagely (1958) Vice President, Treasurer and Controller since 2002 (MF) 1993 (MF2)

Ms. Fagely has been a Vice President of HASCO since 1998 and Chief Financial Officer since 2006. Currently Ms. Fagely is a Vice President of Hartford Life. She served as Assistant Vice President of Hartford Life from December 2001 through March 2005. In addition, Ms. Fagely is Controller and Chief Financial Officer of HIFSCO.

Brian Ferrell (1962) AML Compliance Officer since 2008

Mr. Ferrell has served as Assistant Vice President and AML Compliance Officer for The Hartford since 2006 and as AML Compliance Officer for HASCO and Hartford Investor Services Company, LLC (“HISC”) since 2008. Prior to joining The Hartford in 2006, Mr. Ferrell held various positions at the U.S. Department of the Treasury, (the “Treasury”), from 2001 to 2006 where he served as Chief Counsel for the Treasury’s Financial Crimes Enforcement Network, (“FinCEN”) from 2005 — 2006.

21

The Hartford Tax-Free California Fund
Directors and Officers (Unaudited) — (continued)

Thomas D. Jones, III (1965) Vice President and Chief Compliance Officer since 2006

Mr. Jones serves as Chief Compliance Officer for the Hartford Mutual Funds and Vice President and Director of Securities Compliance for The Hartford. He is also Vice President of HIFSCO, HL Advisors, and Hartford Life Insurance Company. Mr. Jones joined The Hartford in 2006 from SEI Investments, where he served as Chief Compliance Officer for its mutual funds and investment advisers. Prior to joining SEI, Mr. Jones was First Vice President and Compliance Director for Merrill Lynch Investment Managers (Americas) (“MLIM”), where he worked from 1992-2004. At MLIM, Mr. Jones was responsible for the compliance oversight of various investment products, including mutual funds, wrap accounts, institutional accounts and alternative investments.

Edward P. Macdonald (1967) Vice President, Secretary and Chief Legal Officer since 2005

Mr. Macdonald serves as Assistant General Counsel and Assistant Vice President of The Hartford and Chief Legal Officer and Vice President of HIFSCO. He also serves as Vice President and Secretary of HASCO, Assistant Vice President of Hartford Life, and Chief Legal Officer, Secretary and Vice President of HL Advisors. Prior to joining The Hartford in 2005, Mr. Macdonald was Chief Counsel, Investment Management for Prudential Financial (formerly American Skandia Investment Services, Inc.). He joined Prudential in April 1999.

Vernon J. Meyer (1964) Vice President since 2006

Mr. Meyer serves as Senior Vice President of Hartford Life and as Director of its Investment Advisory Group in the Individual Markets Group segment. He also serves as Senior Vice President of HIFSCO and HL Advisors. Prior to joining The Hartford in 2004, Mr. Meyer was with MassMutual which he joined in 1987.

D. Keith Sloane (1960) Vice President since 2009

Mr. Sloane is a Senior Vice President of Hartford Life where he serves as Director of mutual fund product management for The Hartford’s mutual funds and 529 college savings businesses. Additionally, Mr. Sloane currently serves as Senior Vice President of HIFSCO, HL Advisors, and HASCO. Prior to joining The Hartford in 2007, Mr. Sloane was Director of product marketing and led the mutual fund business for Wachovia Securities (“Wachovia”) in their investment products group. Mr. Sloane joined Wachovia in 1995.

Jane Wolak (1961) Vice President since 2009

Ms. Wolak currently serves as Vice President of Hartford Life. Ms. Wolak joined Hartford Life as Vice President, Retail Product Services in May 2007. She is also Vice President of HASCO. Previously, Ms. Wolak was with Sun Life Financial where she held the position of Vice President, Service Center Operations from 2001 — 2007.

HOW TO OBTAIN A COPY OF THE FUND’S PROXY VOTING POLICIES AND VOTING RECORDS

A description of the policies and procedures that the Fund uses to determine how to vote proxies relating to portfolio securities and a record of how the Fund voted any proxies for the twelve-month period ended June 30, 2008 is available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov.

QUARTERLY PORTFOLIO HOLDINGS INFORMATION

The Fund files a complete schedule of portfolio holdings with the Commission for the first and third quarters of each fiscal year on Form N-Q. The Fund’s Forms are available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov. The Form N-Q may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330.

22

The Hartford Tax-Free California Fund

Expense Example (Unaudited)

Your Fund’s Expenses

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments and contingent deferred sales charges (CDSC) (2) ongoing costs including management fees; distribution fees; and other fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the period of October 31, 2008 through April 30, 2009.

Actual Expenses

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

Hypothetical Example for Comparison Purposes

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

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads) and CDSC. Therefore, the second line 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 are equal to the Fund’s annualized expense ratios multiplied by average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

	Actual return						Hypothetical (5% return before expenses)
					Expenses paid						Expenses paid					Days in
					during the period						during the period					the		Days
	Beginning		Ending Account		October 31, 2008		Beginning		Ending Account		October 31,		Annualized			current		in the
	Account Value		Value		through		Account Value		Value		2008 through		expense			1/2		full
	October 31, 2008		April 30, 2009		April 30, 2009		October 31, 2008		April 30, 2009		April 30, 2009		ratio			year		year
Class A	$	1,000.00	$	1,015.15	$	4.24	$	1,000.00	$	1,020.57	$	4.25		0.85	%		181		365
Class B	$	1,000.00	$	1,012.65	$	7.98	$	1,000.00	$	1,016.86	$	8.00		1.60			181		365
Class C	$	1,000.00	$	1,011.36	$	7.97	$	1,000.00	$	1,016.86	$	8.00		1.60			181		365

23

The Hartford Value Fund

Table of Contents

Manager Discussions (Unaudited)	2
Financial Statements
Schedule of Investments at April 30, 2009 (Unaudited)	4
Statement of Assets and Liabilities at April 30, 2009 (Unaudited)	6
Statement of Operations for the Six Month Period Ended April 30, 2009 (Unaudited)	7
Statement of Changes in Net Assets for the Six Month Period Ended April 30, 2009 (Unaudited) and the Year Ended October 31, 2008	8
Notes to Financial Statements (Unaudited)	9
Financial Highlights (Unaudited)	19
Directors and Officers (Unaudited)	20
How to Obtain a Copy of the Fund’s Proxy Voting Policies and Proxy Voting Records (Unaudited)	22
Quarterly Portfolio Holdings Information (Unaudited)	22
Expense Example (Unaudited)	23

The Hartford Value Fund
(subadvised by Wellington Management Company, LLP)

Performance Overview(1) 4/30/01 — 4/30/09
Growth of a $10,000 investment in Class A which includes Sales Charge

Russell 1000 Value Index measures the performance of those Russell 1000 Index companies with lower price-to-book ratios and lower forecasted growth values. You cannot invest directly in an index.

The value of shares will fluctuate so that, when redeemed, shares may be worth more or less than their original cost. The chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.

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

Investment objective — Seeks long-term total return.

Average Annual Total Returns(2,3,4) (as of 4/30/09)

	Inception		1			5			Since
	Date		Year			Year			Inception
Value A#		4/30/01		-33.76	%		-0.04	%		-0.51	%
Value A##		4/30/01		-37.40	%		-1.16	%		-1.21	%
Value B#		4/30/01		-34.02	%		-0.73	%		-1.21	%
Value B##		4/30/01		-37.30	%		-1.08	%		-1.21	%
Value C#		4/30/01		-34.21	%		-0.76	%		-1.24	%
Value C##		4/30/01		-34.86	%		-0.76	%		-1.24	%
Value I#		4/30/01		-33.46	%		0.13	%		-0.41	%
Value R3#		4/30/01		-33.94	%		0.00	%		-0.36	%
Value R4#		4/30/01		-33.74	%		0.15	%		-0.27	%
Value R5#		4/30/01		-33.48	%		0.31	%		-0.17	%
Value Y#		4/30/01		-33.44	%		0.36	%		-0.14	%

#	Without sales charge
##	With sales charge
NA	Not Applicable

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)	Growth of a $10,000 investment in Classes B, C, I, R3, R4, R5 and Y shares will vary from results seen above due to differences in the expenses charged to these share classes.
(2)	The initial investment in Class A shares reflects the maximum sales charge and Classes B and C reflect CDSC.
(3)	Class I shares commenced operations on 5/31/07. Performance prior to 5/31/07 reflects Class A performance. Class R3, R4 and R5 shares commenced operations on 12/22/06. Performance prior to 12/22/06 reflects Class A performance.
(4)	Total returns presented above were calculated using the Fund’s net asset value available to shareholders for sale or redemption of Fund shares on April 30, 2009, which excludes investment transactions as of this date.

Portfolio Managers
Karen H. Grimes, CFA	Ian R. Link, CFA	W. Michael Reckmeyer, III, CFA
Senior Vice President	Vice President	Senior Vice President

How did the Fund perform?

The Class A shares of The Hartford Value Fund returned -7.78%, before sales charge, for the six-month period ended April 30, 2009, outperforming its benchmark, the Russell 1000 Value Index, which returned -13.27% for the same period. The Fund also outperformed the -10.16% return of the average fund in the Lipper Large-Cap Value Funds peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

Broad U.S. equity markets fell during the period, but this overall decline masks two significantly different market environments. From the beginning of November through early March stocks fell sharply, reflecting deepening economic worries and concerns over the U.S. government’s increasing involvement in the economy.

From early March through the end of April stocks rallied as investors came to believe that a Depression-like scenario was less likely. Sector returns within the Russell 1000 Value diverged widely in this environment, with weakness in Financials (-29%), Industrials (-20%), and Energy (-10%) overshadowing relative strength in Information Technology (+10%), Consumer Discretionary (+4%), and Telecommunication Services (+3%).

The primary driver of the Fund’s outperformance relative (i.e. performance of the Fund as measured against the benchmark) to the benchmark was favorable stock selection, particularly within Energy, Industrials, and Health Care. While these stock-by-stock decisions drive the Fund’s investment process, they often result in sector weights that vary from those of the benchmark. During the period these residual sector weights were additive to results due to

2

overweight (i.e. the Fund’s sector position was greater than the benchmark position) positions in Information Technology and Consumer Staples and an underweight (i.e. the Fund’s sector position was less than the benchmark position) position in Financials.

Among the top contributors to benchmark-relative returns were Citigroup (Financials), Schering-Plough (Health Care), and Bristol-Myers Squibb (Health Care). We eliminated our position in Citigroup early in the period, prior to a continued drop in the company’s stock price. Not owning Citigroup throughout most of this period benefited relative results as the company is a significant benchmark holding. Shares of pharmaceutical company Schering-Plough jumped after the company announced a definitive merger agreement with Merck. Another pharmaceutical firm, Bristol-Myers Squibb, saw its shares rise when the company reported strong quarterly results and a positive outlook for 2009. Top absolute (i.e. total return) contributors for the period included banking firm Goldman Sachs (Financials) and industrial chemicals company Celanese (Materials).

International Paper (Materials), Host Hotels & Resorts (Financials), and PNC Financial (Financials) detracted most from relative returns. The rapid economic decline weighed on prices of white paper and boxes, dragging down results for global paper and packaging company International Paper. Host Hotels & Resorts, a lodging firm operating luxury and upscale premium brand hotel properties, saw its shares decline on concerns over a sharp drop in revenue as global travel weakened. Shares of financial services firm PNC Financial fell on concerns regarding the value of assets held at recently-acquired National City. Stocks that detracted most from absolute returns included banking firms Bank of America (Financials) and Wells Fargo (Financials) and industrial and financial conglomerate General Electric (Industrials).

What is the outlook?

It is increasingly clear that the U.S. is in a deep recession, the recent stock market rally notwithstanding. Unemployment continues to rise, the housing market is retreating, and the consumer spending is contracting. The government is reshaping the financial playing field through actions ranging from stimulus packages to massive loans to impaired private sector companies, all taken with an eye towards thawing frozen credit markets and expanding purchasing power. These moves will help mitigate some of the negative economic pressures, and while the outlook remains uncertain, markets have begun to anticipate a recovery.

Throughout this period we have maintained our focus on investing in companies with solid balance sheets, above-market growth rates, sustainable dividend yields, and valuations at a discount to the market. Based on bottom-up (i.e. stock by stock fundamental research) stock decisions, we ended the period most overweight the Information Technology, Industrials, and Materials sectors; our largest underweights were in Telecommunications Services, Financials, and Utilities.

Diversification by Industry
as of April 30, 2009

	Percentage of
Industry	Net Assets
Banks		3.9	%
Capital Goods		8.3
Commercial & Professional Services		1.1
Consumer Durables & Apparel		2.2
Diversified Financials		8.5
Energy		16.7
Food & Staples Retailing		3.9
Food, Beverage & Tobacco		4.2
Health Care Equipment & Services		4.7
Household & Personal Products		0.8
Insurance		6.2
Materials		5.6
Media		2.3
Pharmaceuticals, Biotechnology & Life Sciences		6.3
Real Estate		1.0
Retailing		4.0
Semiconductors & Semiconductor Equipment		2.6
Software & Services		1.6
Technology Hardware & Equipment		4.7
Telecommunication Services		4.1
Transportation		0.8
Utilities		4.6
Short-Term Investments		1.9
Other Assets and Liabilities		—
Total		100.0	%

3

The Hartford Value Fund

Schedule of Investments

April 30, 2009 (Unaudited)
(000’s Omitted)

Shares or Principal Amount			Market Value ╪
COMMON STOCKS — 98.1%
		Banks — 3.9%
	115	PNC Financial Services Group, Inc.	$	4,581
	389	Wells Fargo & Co.		7,774
				12,355
		Capital Goods — 8.3%
	138	Cummins, Inc.		4,685
	38	Deere & Co.		1,584
	449	General Electric Co.		5,681
	74	Illinois Tool Works, Inc.		2,437
	80	Ingersoll-Rand Co. Class A		1,742
	41	Lockheed Martin Corp.		3,181
	84	PACCAR, Inc.		2,970
	57	Precision Castparts Corp.		4,252
				26,532
		Commercial & Professional Services — 1.1%
	127	Waste Management, Inc.		3,379
		Consumer Durables & Apparel — 2.2%
	83	Coach, Inc. •		2,024
	107	Mattel, Inc.		1,595
	91	Stanley Works		3,442
				7,061
		Diversified Financials — 8.5%
	339	Bank of America Corp.		3,031
	132	Bank of New York Mellon Corp.		3,352
	71	Goldman Sachs Group, Inc.		9,110
	351	JP Morgan Chase & Co.		11,587
				27,080
		Energy — 16.7%
	47	Apache Corp.		3,410
	128	Chevron Corp.		8,487
	23	EOG Resources, Inc.		1,473
	225	Exxon Mobil Corp.		15,021
	189	Marathon Oil Corp.		5,625
	114	Newfield Exploration Co. •		3,554
	111	Occidental Petroleum Corp.		6,265
	101	Total S.A. ADR		5,022
	120	XTO Energy, Inc.		4,160
				53,017
		Food & Staples Retailing — 3.9%
	135	CVS/Caremark Corp.		4,287
	122	Kroger Co.		2,629
	130	Safeway, Inc.		2,571
	124	Sysco Corp.		2,884
				12,371
		Food, Beverage & Tobacco — 4.2%
	187	Altria Group, Inc.		3,047
	109	Nestle S.A. ADR		3,548
	73	PepsiCo, Inc.		3,628
	89	Philip Morris International, Inc.		3,229
				13,452
		Health Care Equipment & Services — 4.7%
	117	Aetna, Inc.		2,579
	83	Baxter International, Inc.		4,040
	92	Cardinal Health, Inc.		3,095
	124	UnitedHealth Group, Inc.		2,905
	51	Zimmer Holdings, Inc. •		2,261
				14,880
		Household & Personal Products — 0.8%
	53	Kimberly-Clark Corp.		2,619
		Insurance — 6.2%
	176	ACE Ltd.		8,162
	95	AON Corp.		4,009
	108	Chubb Corp.		4,195
	197	Unum Group		3,217
				19,583
		Materials — 5.6%
	89	Agrium U.S., Inc.		3,833
	62	ArcelorMittal ADR		1,450
	178	Celanese Corp.		3,718
	109	Cliff’s Natural Resources, Inc.		2,504
	116	E.I. DuPont de Nemours & Co.		3,231
	71	Mosaic Co.		2,872
				17,608
		Media — 2.3%
	363	Comcast Corp. Class A		5,608
	82	Viacom, Inc. Class B •		1,572
				7,180
		Pharmaceuticals, Biotechnology & Life Sciences — 6.3%
	82	Abbott Laboratories		3,432
	59	Johnson & Johnson		3,084
	485	Pfizer, Inc.		6,473
	176	Schering-Plough Corp.		4,054
	33	Teva Pharmaceutical Industries Ltd. ADR		1,461
	37	Wyeth		1,548
				20,052
		Real Estate — 1.0%
	52	Host Hotels & Resorts, Inc.		401
	116	Kimco Realty Corp.		1,398
	38	Regency Centers Corp.		1,431
				3,230
		Retailing — 4.0%
	86	Gap, Inc.		1,336
	75	Home Depot, Inc.		1,977
	73	Kohl’s Corp. •		3,329
	98	Nordstrom, Inc.		2,213
	172	Staples, Inc.		3,538
				12,393
		Semiconductors & Semiconductor Equipment — 2.6%
	323	Intel Corp.		5,099
	176	Texas Instruments, Inc.		3,173
				8,272
		Software & Services — 1.6%
	248	Microsoft Corp.		5,024
		Technology Hardware & Equipment — 4.7%
	266	Cisco Systems, Inc. •		5,147
	238	Dell, Inc. •		2,769
	97	Hewlett-Packard Co.		3,487
	233	Ingram Micro, Inc.•		3,379
				14,782
		Telecommunication Services — 4.1%
	370	AT&T, Inc.		9,486
	114	Verizon Communications, Inc.		3,471
				12,957

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

4

Shares or Principal Amount					Market Value ╪
COMMON STOCKS — 98.1% — (continued)
		Transportation — 0.8%
	51	United Parcel Service, Inc. Class B			$	2,685
		Utilities — 4.6%
	76	Edison International				2,152
	55	Entergy Corp.				3,530
	42	Exelon Corp.				1,947
	74	FPL Group, Inc.				3,991
	45	NRG Energy, Inc. •				800
	63	SCANA Corp.				1,901
						14,321
		Total common stocks (cost $363,843)			$	310,833
		Total long-term investments (cost $363,843)			$	310,833
SHORT-TERM INVESTMENTS — 1.9%
		Repurchase Agreements — 1.9%
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $1,446, collateralized by GNMA 4.50% - 6.50%, 2038 - 2039, value of $1,475)
$	1,446	0.18%, 04/30/2009			$	1,446
		BNP Paribas Securities Corp. TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $1,730, collateralized by FHLMC 4.50% - 6.50%, 2035 - 2039, FNMA 4.50% - 6.50%, 2034 - 2047, value of $1,765)
	1,730	0.17%, 04/30/2009				1,730
		Deutsche Bank Securities TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $2,418, collateralized by FHLMC 4.00% - 7.00%, 2021 - 2039, FNMA 6.00% - 7.00%, 2034 - 2038, GNMA 4.50% - 7.00%, 2024 - 2039, value of $2,466)
	2,418	0.17%, 04/30/2009				2,418
		UBS Securities, Inc. Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $8, collateralized by U.S. Treasury Bond 7.50%, 2024, value of $8)
	8	0.14%, 04/30/2009				8
		UBS Securities, Inc. TriParty Joint Repurchase Agreement (maturing on 05/01/2009 in the amount of $521, collateralized by FHLMC 8.00% - 15.00%, 2009 - 2021, FNMA 3.50% - 15.50%, 2012 - 2039, value of $532)
	521	0.16%, 04/30/2009				521
						6,123
		Total short-term investments (cost $6,123)			$	6,123
		Total investments (cost $369,966) ▲	100.0	%	$	316,956
		Other assets and liabilities.	—	%		16
		Total net assets	100.0	%	$	316,972

Note:	Percentage of investments as shown is the ratio of the total market value to total net assets. Market value of investments in foreign securities represents 4.83% of total net assets at April 30, 2009.
▲	At April 30, 2009, the cost of securities for federal income tax purposes was $373,394 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	9,398
Unrealized Depreciation		(65,836	)
Net Unrealized Depreciation	$	(56,438	)

•	Currently non-income producing.
╪	See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of securities.

FAS 157 Disclosure of Investment Valuation Hierarchy Levels

Assets:
Investment in securities — Level 1	$	310,833
Investment in securities — Level 2		6,123
Total	$	316,956

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

5

The Hartford Value Fund

Statement of Assets and Liabilities

April 30, 2009 (Unaudited)
(000’s Omitted)

Assets:
Investments in securities, at fair value (cost $369,966)	$	316,956
Cash		1
Receivables:
Investment securities sold		969
Fund shares sold		23
Dividends and interest		506
Other assets		72
Total assets		318,527
Liabilities:
Payables:
Investment securities purchased		1,401
Fund shares redeemed		31
Investment management fees		41
Distribution fees		5
Accrued expenses		77
Total liabilities		1,555
Net assets	$	316,972
Summary of Net Assets:
Capital stock and paid-in-capital		430,312
Accumulated undistributed net investment income		1,874
Accumulated net realized loss on investments		(62,204	)
Unrealized depreciation of investments		(53,010	)
Net assets	$	316,972
Shares authorized		500,000
Par value	$	0.001
Class A: Net asset value per share/Maximum offering price per share	$	8.11/$8.58
Shares outstanding		5,996
Net assets	$	48,655
Class B: Net asset value per share	$	7.98
Shares outstanding		837
Net assets	$	6,680
Class C: Net asset value per share	$	7.96
Shares outstanding		1,032
Net assets	$	8,214
Class I: Net asset value per share	$	8.10
Shares outstanding		80
Net assets	$	649
Class R3: Net asset value per share	$	7.99
Shares outstanding		15
Net assets	$	116
Class R4: Net asset value per share	$	8.03
Shares outstanding		18
Net assets	$	143
Class R5: Net asset value per share	$	8.06
Shares outstanding		1
Net assets	$	7
Class Y: Net asset value per share	$	8.06
Shares outstanding		31,310
Net assets	$	252,508

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

6

The Hartford Value Fund

Statement of Operations

For the Six Month Period Ended April 30, 2009 (Unaudited)
(000’s Omitted)

Investment Income:
Dividends	$	4,535
Interest		7
Securities lending		—
Less: Foreign tax withheld		(13	)
Total investment income		4,529
Expenses:
Investment management fees		1,134
Transfer agent fees		113
Distribution fees
Class A		61
Class B		32
Class C		40
Class R3		—
Class R4		—
Custodian fees		4
Accounting services		20
Registration and filing fees		43
Board of Directors’ fees		4
Audit fees		6
Other expenses		67
Total expenses (before waivers and fees paid indirectly)		1,524
Expense waivers		(29	)
Transfer agent fee waivers		(13	)
Commission recapture		(7	)
Custodian fee offset		—
Total waivers and fees paid indirectly		(49	)
Total expenses, net		1,475
Net investment income		3,054
Net Realized Loss on Investments:
Net realized loss on investments in securities		(41,057	)
Net Realized Loss on Investments		(41,057	)
Net Changes in Unrealized Appreciation of Investments:
Net unrealized appreciation of investments		17,982
Net Changes in Unrealized Appreciation of Investments		17,982
Net Loss on Investments		(23,075	)
Net Decrease in Net Assets Resulting from Operations	$	(20,021	)

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

7

The Hartford Value Fund

Statement of Changes in Net Assets

(000’s Omitted)

	For the Six-Month
	Period Ended			For the
	April 30, 2009			Year Ended
	(Unaudited)			October 31, 2008
Operations:
Net investment income	$	3,054		$	6,268
Net realized loss on investments		(41,057	)		(21,083	)
Net unrealized appreciation (depreciation) of investments		17,982			(132,595	)
Net decrease in net assets resulting from operations		(20,021	)		(147,410	)
Distributions to Shareholders:
From net investment income
Class A		(934	)		(680	)
Class B		(46	)		—
Class C		(62	)		(2	)
Class I		(12	)		(1	)
Class R3		(2	)		—
Class R4		(3	)		—
Class R5		—			—
Class Y		(5,541	)		(3,717	)
From net realized gain on investments
Class A		—			(4,006	)
Class B		—			(600	)
Class C		—			(630	)
Class I		—			(2	)
Class R3		—			—
Class R4		—			—
Class R5		—			(1	)
Class Y		—			(13,683	)
Total distributions		(6,600	)		(23,322	)
Capital Share Transactions:
Class A		(2,137	)		1,477
Class B		136			(1,181	)
Class C		(88	)		728
Class I		85			678
Class R3		5			123
Class R4		(5	)		205
Class R5		—			1
Class Y		60,102			36,595
Net increase from capital share transactions		58,098			38,626
Net increase (decrease) in net assets		31,477			(132,106	)
Net Assets:
Beginning of period		285,495			417,601
End of period	$	316,972		$	285,495
Accumulated undistributed net investment income	$	1,874		$	5,420

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

8

The Hartford Value Fund

Notes to Financial Statements

April 30, 2009 (Unaudited)
(000’s Omitted)

1.	Organization:
	The Hartford Mutual Funds, Inc. (“Company”) is an open-end management investment company comprised of fifty-two portfolios. Financial statements for The Hartford Value Fund (the “Fund”), a series of the Company, are included in this report.
	The Company is organized under the laws of the State of Maryland and is registered with the Securities and Exchange Commission (“SEC”) under the Investment Company Act of 1940, as amended (“1940 Act”). The Fund is a diversified open-end management investment company.
	Class A shares are sold with a front-end sales charge of up to 5.50% Class B shares are sold with a contingent deferred sales charge which is assessed on the lesser of the per share net asset value (“NAV”) of the shares at the time of redemption or the original purchase price, and declines from up to 5.00% to zero depending on the period of time the shares are held. Class C shares are sold with a contingent deferred sales charge of up to 1.00% on shares redeemed within twelve months of purchase. Class I shares are sold without sales charges to certain eligible investors through advisory fee-based wrap programs. Classes R3, R4, R5 shares, which are offered to employer-sponsored retirement plans, and Class Y shares, which are sold to certain eligible institutional investors, are sold without a sales charge. All classes of shares have identical voting, redemption, dividend, liquidation and other rights and the same terms and conditions, with the exceptions that each class may have different expenses, which may affect performance, and except that Class B shares automatically convert to Class A shares after 8 years.
	Effective at the close of business on September 30, 2009 (the “Close Date”), no new or additional investments will be allowed in Class B shares of The Hartford Mutual Funds (including investments through any systematic investment plan). After the Close Date, existing shareholders of Class B shares may continue to hold their Class B shares, exchange their Class B shares for Class B shares of another Hartford Mutual Fund (as permitted by existing exchange privileges), and redeem their Class B shares as described in the Fund’s prospectus. Reinstatement privileges with respect to Class B shares will continue under the current policy. If you have chosen to reinvest capital gains and dividends, any such capital gains or dividends on Class B shares will continue to be reinvested in Class B shares of the Fund. For Class B shares outstanding as of the Close Date, all Class B share attributes, including the 12b-1 fee, contingent deferred sales charge schedule, and conversion to Class A shares remain unchanged.
2.	Significant Accounting Policies:
	The following is a summary of significant accounting policies of the Fund, which are in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”).

a)	Security Transactions and Investment Income — Security transactions are recorded on the trade date (the date the order to buy or sell is executed). Security gains and losses are determined on the basis of identified cost.
	Dividend income is accrued as of the ex-dividend date, except that certain dividends for foreign securities where the ex-dividend date may have passed are recorded as soon as the Fund is informed of the dividend in the exercise of reasonable diligence. Interest income, including amortization of premium and accretion of discounts, is accrued on a daily basis.
b)	Security Valuation — The Fund generally uses market prices in valuing portfolio securities. If market prices are not readily available or are deemed unreliable, the Fund will use the fair value of the security as determined in good faith under policies and procedures established by and under the supervision of the Fund’s Board of Directors. Market prices may be deemed unreliable, for example, if a security is thinly traded or if an event has occurred after the close of the security’s primary markets, but before the close of the New York Stock Exchange (the “Exchange”) (normally 4:00 p.m. Eastern Time, referred to as the “Valuation Time”) that is expected to affect the value of the portfolio security. The circumstances in which the Fund may use fair value pricing include, among others: (i) the occurrence of events that are significant to a particular issuer, such as mergers, restructuring or defaults; (ii) the occurrence of events that are

9

The Hartford Value Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

	significant to an entire market, such as natural disasters in a particular region or governmental actions; (iii) trading restrictions on securities; (iv) thinly traded securities and (v) market events such as trading halts and early market closings. In addition, with respect to the valuation of stocks primarily traded on foreign markets, the Fund uses a fair value pricing service approved by the Fund’s Board of Directors, which employs quantitative models that evaluate changes in the value of foreign market proxies (e.g., futures contracts, ADR’s, exchange traded funds (“ETF’s”)) after the close of the foreign markets but before the close of the Exchange. Securities that are primarily traded on foreign markets may trade on days that are not business days of the Fund. The value of the foreign securities in which the Fund invests may change on days when a shareholder will not be able to purchase or redeem shares of the Fund. Fair value pricing is subjective in nature and the use of fair value pricing by the Fund may cause the NAV of its shares to differ significantly from the NAV that would have been calculated using market prices at the close of the exchange on which a portfolio security is primarily traded but before the close of the Exchange. There can be no assurance that the Fund could obtain the fair value assigned to a security if the Fund were to sell the security at approximately the time at which the Fund determines its NAV.
	Securities of foreign issuers and non-dollar securities are translated from the local currency into U.S. dollars using prevailing exchange rates.
	Financial instruments for which prices are not available from an independent pricing service are valued using market quotations obtained from one or more dealers that make markets in securities in accordance with procedures established by the Fund’s Board of Directors.
	Other derivative or contractual type instruments shall be valued using market prices if such instruments trade on an exchange or market. If such instruments do not trade on an exchange or market, such instruments shall be valued at a price at which the counterparty to such contract would repurchase the instrument. In the event that the counterparty cannot provide a price, such valuation may be determined in accordance with procedures established by the Fund’s Board of Directors.
c)	Foreign Currency Transactions - The accounting records of the Fund are maintained in U.S. dollars. All assets and liabilities initially expressed in foreign currencies are converted into U.S. dollars at the prevailing exchange rates. Purchases and sales of investment securities, dividend and interest income and certain expenses are translated at the rates of exchange prevailing on the respective dates of such transactions.
	The Fund does not isolate that portion of portfolio security valuation resulting from fluctuations in the foreign currency exchange rates on portfolio securities from the fluctuations arising from changes in the market prices of securities held. Such fluctuations are included with the net realized and unrealized gain or loss on investments in the accompanying financial statements.
	Net realized foreign exchange gains or losses arise from sales of foreign currencies and the difference between asset and liability amounts initially stated in foreign currencies and the U.S. dollar value of the amounts actually received or paid. Net unrealized foreign exchange gains or losses arise from changes in the value of other assets and liabilities at the end of the reporting period, resulting from changes in the exchange rates.
d)	Securities Lending - The Fund may lend its securities to certain qualified brokers who pay the Fund negotiated lender fees. The loans are fully collateralized at all times with cash and/or U.S. Government Securities and/or repurchase agreements. The cash collateral is then invested in short-term money market instruments. The repurchase agreements are fully collateralized by U.S. Government Securities. The adequacy of the collateral for securities on loan is monitored on a daily basis. For instances where the market value of collateral falls below the market value of the securities out on loan, such collateral is supplemented on the following business day.
	While securities are on loan, the Fund is subject to the following risks: 1) that the borrower may default on the loan and that the collateral could be inadequate in the event the borrower defaults, 2) that the earnings on the collateral invested

10

	may not be sufficient to pay fees incurred in connection with the loan, 3) that the principal value of the collateral invested may decline and may not be sufficient to pay back the borrower for the amount of the collateral posted, 4) that the borrower may use the loaned securities to cover a short sale which may place downward pressure on the market prices of the loaned securities, 5) that return of loaned securities could be delayed and could interfere with portfolio management decisions and 6) that any efforts to recall the securities for purposes of voting a proxy may not be effective. The Fund had no securities out on loan as of April 30, 2009.
e)	Joint Trading Account — Pursuant to an exemptive order issued by the SEC, the Fund may transfer uninvested cash balances into a joint trading account managed by Wellington Management Company, LLP (“Wellington”). These balances may be invested in one or more repurchase agreements and/or short-term money market instruments.
f)	Repurchase Agreements — A repurchase agreement is an agreement by which the seller of a security agrees to repurchase the security sold at a mutually agreed upon time and price. At the time the Fund enters into a repurchase agreement, the value of the underlying collateral security(ies), including accrued interest, will be equal to or exceed the value of the repurchase agreement. Securities that serve to collateralize the repurchase agreement are held by the Fund’s custodian in book entry or physical form in the custodial account of the Fund or in a third party custodial account. Repurchase agreements are valued at cost plus accrued interest. The Fund, as shown on the Schedule of Investments, had outstanding repurchase agreements as of April 30, 2009.
g)	Forward Foreign Currency Contracts — The Fund may enter into forward foreign currency contracts that obligate the Fund to repurchase/replace or sell currencies at specified future dates. Forward foreign currency contracts may be used to hedge against adverse fluctuations in exchange rates between currencies.
	Forward foreign currency contracts involve elements of market risk in excess of the amount reflected in the Statement of Assets and Liabilities. In addition, risks may arise upon entering into these contracts from the potential inability of the counterparties to meet the terms of the contracts and from unanticipated movements in the value of the foreign currencies relative to the U.S. dollar.
h)	Indexed Securities — The Fund may invest in indexed securities whose values are linked to changes in interest rates, indices, or other underlying instruments. The Fund uses these securities to increase or decrease its exposure to different underlying instruments and to gain exposure to markets that might be difficult to invest in using conventional securities. Indexed securities may be more volatile than their underlying instruments, but any loss is limited to the amount of the original investment and there may be a limit to the potential appreciation of the investment. The Fund had no investments in indexed securities as of April 30, 2009.
i)	Fund Share Valuation and Dividend Distributions to Shareholders — Orders for the Fund’s shares are executed in accordance with the investment instructions of the shareholders. The NAV of the Fund’s shares is determined as of the close of each business day of the Exchange. The NAV is determined separately for each class of the Fund by dividing the Fund’s net assets attributable to that class by the number of shares of the class outstanding. Orders for the purchase of the Fund’s shares prior to the close of the Exchange on any day on which the Exchange is open for business are priced at the NAV determined as of the close of the Exchange. Orders after the close of the Exchange, or on a day on which the Exchange and/or the Fund is not open for business, are priced at the next determined NAV.
	The Fund intends to distribute substantially all of its net investment income and net realized capital gains to shareholders no less frequently than once a year. Normally, dividends from net investment income are declared and paid annually. Dividends are paid on shares beginning on the business day after the day when the funds used to purchase the shares are collected by the transfer agent for the Fund. Unless shareholders specify otherwise, all dividends will be automatically reinvested in additional full or fractional shares of the Fund.
	Distributions from net investment income, realized capital gains and capital are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP with respect to character and timing. These differences include but are not limited to foreign currency gains and losses, losses deferred due to wash sales adjustments,

11

The Hartford Value Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

	adjustments related to Passive Foreign Investment Companies and certain derivatives, and excise tax regulations. Permanent book and federal income tax basis differences relating to shareholder distributions will result in reclassifications to certain of the Fund’s capital accounts (see Federal Income Taxes: Reclassification of Capital Accounts footnote).
j)	Use of Estimates — The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and the reported amounts of income and expenses during the period. Operating results in the future could vary from the amounts derived from management’s estimates.
k)	Financial Accounting Standards Board Financial Accounting Standards No. 157 — Effective November 1, 2008, the Fund adopted Financial Accounting Standards Board (“FASB”) Statement of Financial Accounting Standards No. 157, “Fair Value Measurements” (“FAS 157”). This standard clarifies the definition of fair value for financial reporting, establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements. Fair value is defined under FAS 157 as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Under FAS 157, a fair value measurement should reflect all of the assumptions that market participants would use in pricing the asset or liability, including assumptions about the risk inherent in a particular valuation technique, the effect of a restriction on the sale or use of an asset, and the risk of nonperformance.
	Various inputs are used in determining the value of the Fund’s investment. These inputs are summarized, per FAS 157, into three broad hierarchy levels. This hierarchy is based on whether the valuation inputs are observable or unobservable. These levels are:

• Level 1 — Quoted prices in active markets for identical securities. Level 1 includes exchange-traded instruments such as domestic equities, some foreign equities, options, futures, mutual funds, ETF’s, and rights and warrants.

• Level 2 — Observable inputs other than Level 1 prices, such as quoted prices for similar securities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the security. Level 2 includes debt securities that are traded less frequently than exchange-traded instruments and that are valued using third party pricing services and foreign equities, whose value is determined using a multi-factor regression model with inputs that are observable in the market; and money market instruments, which are carried at amortized cost.

• Level 3 — Significant unobservable inputs that are supported by little or no market activity. Level 3 includes financial instruments whose values are determined using broker quotes and require significant management judgment or estimation. This category includes broker quoted securities, long dated OTC options and securities where trading has been halted or there are certain restrictions on trading. While these securities are priced using unobservable inputs, the valuation of these securities reflects the best available data and management believes the prices are a good representation of exit price.

Individual securities within any of the above mentioned asset classes may be assigned a different hierarchical level than those presented above, as individual circumstances dictate.

FAS 157 also requires that a roll forward reconciliation be shown for all Level 3 securities from the beginning of the reporting period to the end of the reporting period. Part of this reconciliation includes transfers in and/or out of Level 3. For purposes of this reconciliation, transfers in are shown at the end of period fair value and transfers out are shown at the beginning of period fair value. During the six-month period ended April 30, 2009, the Fund held no Level 3 securities.

Refer to the valuation hierarchy levels summary found following the Schedule of Investments.

12

	FASB Staff Position No. 157-4 — In April 2009, FASB released FASB Staff Position No. 157-4, “Determining Fair Value When the Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly” (“FSP FAS 157-4”). FSP FAS 157-4 provides additional guidance on determining whether a market for a financial asset is not active and a transaction is not distressed when measuring fair value under FAS 157. The FSP also requires additional disclosure detail on debt and equity securities by major investment categories. FSP FAS 157-4 is effective for interim and annual periods ending after June 15, 2009. At this time, management is evaluating the implications of FSP FAS 157-4 and does not believe it will impact valuation but will require additional disclosure. This additional disclosure has not yet been implemented.
l)	Financial Accounting Standards Board Financial Accounting Standards No. 161 — In March 2008, the FASB released Statement of Financial Accounting Standards No. 161, “Disclosures about Derivative Instruments and Hedging Activities” (“FAS 161”). FAS 161 requires companies to disclose information detailing the objectives and strategies for using derivative instruments, the level of derivative activity entered into by the company and any credit risk-related contingent features of the agreements. The application of FAS 161 is required for fiscal years and interim periods beginning after November 15, 2008. At this time, management is evaluating the implications of FAS 161 and has not yet implemented the new disclosure standard.
m)	Indemnifications: Under the Company’s organizational documents, the Company shall indemnify its officers and directors to the full extent required or permitted under Maryland General Corporation Law and the federal securities law. In addition, the Company, on behalf of the Fund, may enter into contracts that contain a variety of indemnifications. The Company’s maximum exposure under these arrangements is unknown. However, the Company has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote.

3. Federal Income Taxes:

a)

Federal Income Taxes — For federal income tax purposes, the Fund intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code (“IRC”) by distributing substantially all of its taxable net investment income and net realized capital gains to its shareholders and otherwise complying with the requirements of regulated investment companies. The Fund has distributed substantially all of its income and capital gains in prior years and the Fund intends to distribute substantially all of its income and gains during the calendar year ending December 31, 2009. Accordingly, no provision for federal income or excise taxes has been made in the accompanying financial statements. Distributions from short-term capital gains are treated as ordinary income distributions for federal income tax purposes.

b)

The tax character of distributions paid by the Fund for the periods indicated is as follows (as adjusted for dividends payable):

	For the Year Ended		For the Year Ended
	October 31, 2008		October 31, 2007
Ordinary Income	$	13,907	$	2,008
Long-Term Capital Gains *		9,415		15,191

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

13

The Hartford Value Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

As of October 31, 2008, the Fund’s components of distributable earnings (deficit) on a tax basis were as follows:

	Amount
Undistributed Ordinary Income	$	5,420
Accumulated Capital Losses*	$	(17,720	)
Unrealized Depreciation†	$	(74,419	)
Total Accumulated Deficit	$	(86,719	)

*	The Fund has capital loss carryforwards that are identified in the Capital Loss Carryforward note that follows.
†	The differences between book-basis and tax-basis unrealized appreciation (depreciation) are attributable to the tax deferral of wash sales losses, the mark-to-market adjustment for certain derivatives in accordance with IRC Sec. 1256, the mark to market for Passive Foreign Investment Companies and basis differences in real estate investment trusts.

c)

Reclassification of Capital Accounts — In accordance with American Institute of Certified Public Accountants (AICPA) Statement of Position 93-2, Determination, Disclosure, and Financial Statement Presentation of Income, Capital Gain, and Return of Capital Distributions by Investment Companies, the Fund has recorded reclassifications in its capital accounts. These reclassifications had no impact on the NAV of the Fund. The reclassifications are a result of permanent differences between GAAP and tax accounting for such items as net operating losses that reduce distribution requirements. Adjustments are made to reflect the impact these items have on current and future distributions to shareholders. Therefore, the source of the Fund’s distributions may be shown in the accompanying Statement of Changes in Net Assets as from net investment income, from net realized gains on investments or from capital depending on the type of book and tax differences that exist. As of October 31, 2008, the Fund recorded reclassifications to decrease undistributed net investment income by $19 and increase accumulated net realized gain by $21.

d)

Capital Loss Carryforward — At October 31, 2008 (tax-year-end), the Fund had capital loss carryforwards for U.S. federal income tax purposes of approximately:

Year	Amount
2016		$17,720
Total		$17,720

e) Financial Accounting Standards Board Interpretation No. 48 — On July 13, 2006, the FASB released FASB Interpretation No. 48 “Accounting for Uncertainty in Income Taxes” (“FIN 48”). FIN 48 provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. The Fund adopted FIN 48 for fiscal years beginning after December 15, 2006. Management has evaluated the implications of FIN 48 for all open tax years (tax years ended October 31, 2006 — 2008) and has determined there is no impact to the Fund’s financial statements.

4. Expenses:

a) Investment Management Agreements — Hartford Investment Financial Services, LLC (“HIFSCO”) serves as investment manager to the Fund pursuant to an Investment Management Agreement with The Hartford Mutual Funds, Inc. As investment manager, HIFSCO has overall investment supervisory responsibility for the Fund. In addition, HIFSCO provides administrative personnel, services, equipment, facilities and office space for proper operation of the Fund. HIFSCO has contracted with Wellington for the provision of day-to-day investment management services to the Fund in accordance with the Fund’s investment objective and policies. The Fund pays a fee to HIFSCO, a portion of which may be used to compensate Wellington.

14

The schedule below reflects the rates of compensation paid to HIFSCO for investment management services rendered during the six-month period ended April 30, 2009; the rates are accrued daily and paid monthly:

Average Daily Net Assets	Annual Fee
On first $500 million		0.8000	%
On next $500 million		0.7000	%
On next $4 billion		0.6500	%
On next $5 billion		0.6475	%
Over $10 billion		0.6450	%

b) Accounting Services Agreement — Pursuant to the Fund Accounting Agreement between Hartford Life Insurance Company (“HLIC”) and the Fund, HLIC provides accounting services to the Fund and receives monthly compensation on the Fund’s average net assets. The Fund’s accounting service fees are accrued daily and paid monthly.

Average Daily Net Assets	Annual Fee
On first $5 billion		0.014	%
On next $5 billion		0.012	%
Over $10 billion		0.010	%

c) Operating Expenses — Allocable expenses incurred by the Company are allocated to each Fund and allocated to classes within the Fund in proportion to the average daily net assets of the Fund and each class, except where allocation of certain expenses is more fairly made directly to the Fund or to specific classes within a Fund. During the six-month period ended April 30, 2009, HIFSCO has contractually limited the total operating expenses of this Fund, exclusive of taxes, interest expense, brokerage commissions, certain distribution expenses and extraordinary expenses as follows:

Class A			Class B			Class C			Class I			Class R3			Class R4			Class R5			Class Y
	1.40	%		2.15	%		2.15	%		1.15	%		1.65	%		1.35	%		1.05	%		1.00	%

d) Fees Paid Indirectly — The Fund has entered into agreements with State Street Global Markets, LLC and Russell Implementation Services Inc. to partially recapture non-discounted trade commissions. Such rebates are used to pay a portion of the Fund’s expenses. In addition, the Fund’s custodian bank has also agreed to reduce its fees when the Fund maintains cash on deposit in the non-interest-bearing custody account. For the six-month period ended April 30, 2009, these amounts are included in the Statement of Operations.

15

The Hartford Value Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

The ratio of expenses to average net assets in the accompanying financial highlights excludes the reduction in expenses related to fees paid indirectly. Had the fees paid indirectly been included, the annualized expense ratio for the periods listed below would have been as follows:

	Annualized
	Six-Month
	Period			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended
	Ended April			October 31,			October 31,			October 31,			October 31,			October 31,
	30, 2009			2008			2007			2006			2005			2004
Class A Shares		1.39	%		1.32	%		1.32	%		1.37	%		1.39	%		1.44	%
Class B Shares		1.82			2.06			2.15			2.12			2.14			2.14
Class C Shares		2.11			2.09			2.09			2.14			2.14			2.14
Class I Shares		0.99			0.95			1.00	*
Class R3 Shares		1.65			1.65			1.65	†
Class R4 Shares		1.31			1.30			1.35	‡
Class R5 Shares		1.02			0.98			1.05	§
Class Y Shares		0.90			0.87			0.88			0.91			0.92			0.90

*	From May 31, 2007 (commencement of operations), through October 31, 2007
†	From December 22, 2006 (commencement of operations), through October 31, 2007
‡	From December 22, 2006 (commencement of operations), through October 31, 2007
§	From December 22, 2006 (commencement of operations), through October 31, 2007

e)	Distribution and Service Plan for Class A, B, C, R3 and R4 Shares — HIFSCO is the principal underwriter and distributor of the Fund. HIFSCO is engaged in distribution activities, which include marketing and distribution of shares through broker-dealers, financing distribution costs and maintaining financial books and records. For the six-month period ended April 30, 2009, HIFSCO received front-end load sales charges of $80 and contingent deferred sales charges of $9 from the Fund.
	The Fund has adopted Distribution and Service Plans in accordance with Rule 12b-1 of the Investment Company Act of 1940, as amended, to compensate the distributor (HIFSCO) for activities intended to result in the sale and distribution of Classes A, B, C, R3 and R4 shares and for providing services for shareholders. The Rule 12b-1 plan applicable to Class A shares of the Funds provides for payment of a Rule 12b-1 fee of up to 0.35% of average daily net assets; however, the Board of Directors has currently authorized 12b-1 payments of only up to 0.25%. Some or all of the fee may be used for shareholder servicing expenses with the remainder used for distribution expenses. Some or the entire Rule 12b-1 fee for Class B shares may be remitted to broker-dealers for distribution and/or shareholder account services. Under the Class B Plan, the Fund pays the distributor 1.00% of the average daily net assets of Class B shares that are outstanding for 8 years or less, 0.25% of which is a fee for services provided to existing shareholders with the remainder used for distribution expenses. After eight years, Class B shares convert to Class A shares. Upon conversion to Class A shares, the Class A plan described above will apply to those shares. Under the Class C Plan, the Fund pays the distributor 1.00% of the average daily net assets of Class C shares outstanding, 0.25% of which is intended as a fee for services provided to existing shareholders with the remainder used for distribution expenses. For Class C shares, some or the entire fee may be remitted to broker-dealers for distribution and/or shareholder account services. Class R3 shares have a distribution fee of 0.50% and Class R4 shares have a distribution fee of 0.25%. For Classes R3 and R4 shares, some or the entire fee may be remitted to broker dealers for distribution and/or shareholder account services. The Fund’s 12b-1 fees are accrued daily and paid monthly.
	For the six-month period ended April 30, 2009, total sales commissions paid to affiliated brokers/dealers of The Hartford for distributing the Fund’s shares were $3. These commissions are in turn paid to sales representatives of the broker/dealers.

16

f)	Other Related Party Transactions — Certain officers of the Fund are directors and/or officers of HIFSCO and/or The Hartford or its subsidiaries. For the six-month period ended April 30, 2009, a portion of the Fund’s chief compliance officer’s salary was paid by the Fund in the amount of $1. Hartford Administrative Services Company (“HASCO”), an indirect wholly owned subsidiary of The Hartford, provides transfer agent services to the Fund. HASCO was compensated $103 for providing such services. These fees are accrued daily and paid monthly.
g)	Payments from Affiliate:
	The total return in the accompanying financial highlights includes payment from affiliates. Had the payment from affiliates been excluded, the total return for the periods listed below would have been as follows:

	Total Return
	Excluding
	Payment from
	Affiliate for the
	Year Ended
	October 31, 2007
Class A		16.60	%
Class B		15.62
Class C		15.62
Class Y		17.06

5.	Affiliate Holdings:
	As of April 30, 2009, affiliates of The Hartford had ownership of shares in the Fund as follows:

	Shares
Class R5		1

6.	Investment Transactions:
	For the six-month period ended April 30, 2009, the Fund’s aggregate purchases and sales of investment securities (excluding short-term investments) were as follows:

	Amount
Cost of Purchases Excluding U.S. Government Obligations	$	142,707
Sales Proceeds Excluding U.S. Government Obligations		83,391

17

The Hartford Value Fund
Notes to Financial Statements — (continued)
April 30, 2009 (Unaudited)
(000’s Omitted)

7.	Capital Share Transactions:
	The following information is for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	For the Six-Month Period Ended April 30, 2009												For the Year Ended October 31, 2008
			Shares					Shares							Shares					Shares
			Issued for					Issued		Net Increase					Issued for					Issued		Net Increase
	Shares		Reinvested		Shares			from		(Decrease) of			Shares		Reinvested		Shares			from		(Decrease) of
	Sold		Dividends		Redeemed			Merger		Shares			Sold		Dividends		Redeemed			Merger		Shares
Class A
Shares		1,290		108		(1,753	)		—		(355	)		1,461		353		(1,764	)		—		50
Amount	$	10,217	$	862	$	(13,216	)	$	—	$	(2,137	)	$	16,895	$	4,549	$	(19,967	)	$	—	$	1,477
Class B
Shares		142		5		(136	)		—		11			161		45		(322	)		—		(116	)
Amount	$	1,088	$	44	$	(996	)	$	—	$	136		$	1,825	$	568	$	(3,574	)	$	—	$	(1,181	)
Class C
Shares		181		7		(206	)		—		(18	)		243		46		(234	)		—		55
Amount	$	1,390	$	57	$	(1,535	)	$	—	$	(88	)	$	2,762	$	586	$	(2,620	)	$	—	$	728
Class I
Shares		41		1		(29	)		—		13			74		—		(11	)		—		63
Amount	$	302	$	11	$	(228	)	$	—	$	85		$	805	$	3	$	(130	)	$	—	$	678
Class R3
Shares		2		—		(1	)		—		1			13		1		—			—		14
Amount	$	10	$	2	$	(7	)	$	—	$	5		$	122	$	1	$	—		$	—	$	123
Class R4
Shares		3		—		(4	)		—		(1	)		20		—		(2	)		—		18
Amount	$	26	$	3	$	(34	)	$	—	$	(5	)	$	222	$	—	$	(17	)	$	—	$	205
Class R5
Shares		—		—		—			—		—			—		—		—			—		—
Amount	$	—	$	—	$	—		$	—	$	—		$	—	$	1	$	—		$	—	$	1
Class Y
Shares		7,607		698		(664	)		—		7,641			4,179		1,356		(3,282	)		—		2,253
Amount	$	59,645	$	5,540	$	(5,083	)	$	—	$	60,102		$	48,573	$	17,400	$	(29,378	)	$	—	$	36,595

The following reflects the conversion of Class B Shares into Class A Shares (reflected as Class A Shares issued and Class B shares redeemed) for the six-month period ended April 30, 2009 and the year ended October 31, 2008:

	Shares		Dollars
For the Six-Month Period Ended April 30, 2009		8	$	62
For the Year Ended October 31, 2008		31	$	366

8.	Line of Credit:
	The Fund is one of several Hartford Funds that participate in a $500 million committed revolving line of credit facility. The facility is to be used for temporary or emergency purposes. Under the arrangement, the Fund is required to own securities having a market value in excess of 300% of the total bank borrowings. The interest rate on borrowings varies depending on the nature of the loan. The facility also requires a fee to be paid based on the amount of the commitment. During the six-month period ended April 30, 2009, the Fund did not have any borrowings under this facility.
9.	Industry Classifications:
	Other than the industry classifications “Other Investment Pools and Funds” and “Exchange Traded Funds”, equity industry classifications used in this report are the Global Industry Classification Standard, which was developed by and is the exclusive property and service mark of MSCI, Inc. and Standard & Poor’s.

18

The Hartford Value Fund

Financial Highlights — (Unaudited)

	— Selected Per-Share Data — (a)																															— Ratios and Supplemental Data —
																																		Ratio of			Ratio of			Ratio of
																																		Expenses			Expenses			Expenses
																																		to Average			to Average			to Average
																																		Net Assets			Net Assets			Net Assets
																																		Before			After			After
							Net																											Waivers			Waivers			Waivers
							Realized																											and			and			and			Ratio of
							and Un-									Distrib-								Net										Reimburse-			Reimburse-			Reimburse-			Net
			Net		Pay-		realized						Dividends			utions								Increase			Net							ments and			ments and			ments and			Invest-			Port-
	Net Asset		Invest-		ments		Gain					��	from Net			from			Distri-					(Decrease)			Asset					Net Assets		Including			Including			Excluding			ment			folio
	Value at		ment		from		(Loss) on			Total from			Invest-			Realized			butions		Total			in Net			Value at					at End of		Expenses			Expenses			Expenses			Income to			Turn-
	Beginning		Income		(to)		Invest-			Investment			ment			Capital			from		Distri-			Asset			End of		Total			Period		not Subject			not Subject			not Subject			Average			over
Class	of Period		(Loss)		Affiliate		ments			Operations			Income			Gains			Capital		butions			Value			Period		Return(b)			(000’s)		to Cap(c)			to Cap(c)			to Cap(c)			Net Assets			Rate(d)
For the Six-Month Period Ended April 30, 2009 (Unaudited) (e)
A	$	8.95	$	0.07	$	—	$	(0.77	)	$	(0.70	)	$	(0.14	)	$	—		$	—	$	(0.14	)	$	(0.84	)	$	8.11		(7.78	)%(f)	$	48,655		1.46	%(g)		1.40	%(g)		1.40	%(g)		1.84	%(g)		30	%
B		8.73		0.05		—		(0.74	)		(0.69	)		(0.06	)		—			—		(0.06	)		(0.75	)		7.98		(7.94	) (f)		6,680		2.53	(g)		1.82	(g)		1.82	(g)		1.40	(g)		—
C		8.72		0.04		—		(0.74	)		(0.70	)		(0.06	)		—			—		(0.06	)		(0.76	)		7.96		(8.03	) (f)		8,214		2.24	(g)		2.11	(g)		2.11	(g)		1.12	(g)		—
I		8.97		0.08		—		(0.76	)		(0.68	)		(0.19	)		—			—		(0.19	)		(0.87	)		8.10		(7.57	) (f)		649		0.99	(g)		0.99	(g)		0.99	(g)		2.17	(g)		—
R3		8.87		0.06		—		(0.77	)		(0.71	)		(0.17	)		—			—		(0.17	)		(0.88	)		7.99		(7.95	) (f)		116		1.68	(g)		1.65	(g)		1.65	(g)		1.56	(g)		—
R4		8.89		0.07		—		(0.76	)		(0.69	)		(0.17	)		—			—		(0.17	)		(0.86	)		8.03		(7.73	) (f)		143		1.31	(g)		1.31	(g)		1.31	(g)		1.91	(g)		—
R5		8.92		0.08		—		(0.76	)		(0.68	)		(0.18	)		—			—		(0.18	)		(0.86	)		8.06		(7.60	) (f)		7		1.02	(g)		1.02	(g)		1.02	(g)		2.19	(g)		—
Y		8.93		0.09		—		(0.77	)		(0.68	)		(0.19	)		—			—		(0.19	)		(0.87	)		8.06		(7.57	) (f)		252,508		0.90	(g)		0.90	(g)		0.90	(g)		2.28	(g)		—
For the Year Ended October 31, 2008
A		14.13		0.16		—		(4.60	)		(4.44	)		(0.10	)		(0.64	)		—		(0.74	)		(5.18	)		8.95		(33.00	)		56,864		1.32			1.32			1.32			1.32			57
B		13.78		0.08		—		(4.49	)		(4.41	)		—			(0.64	)		—		(0.64	)		(5.05	)		8.73		(33.43	)		7,211		2.27			2.06			2.06			0.57			—
C		13.78		0.06		—		(4.48	)		(4.42	)		—			(0.64	)		—		(0.64	)		(5.06	)		8.72		(33.50	)		9,160		2.10			2.10			2.10			0.54			—
I		14.15		0.17		—		(4.56	)		(4.39	)		(0.15	)		(0.64	)		—		(0.79	)		(5.18	)		8.97		(32.67	)		598		0.96			0.96			0.96			1.66			—
R3		14.00		0.03		—		(4.46	)		(4.43	)		(0.06	)		(0.64	)		—		(0.70	)		(5.13	)		8.87		(33.14	)		122		1.73			1.65			1.65			0.87			—
R4		14.03		0.08		—		(4.48	)		(4.40	)		(0.10	)		(0.64	)		—		(0.74	)		(5.14	)		8.89		(32.93	)		166		1.31			1.31			1.31			1.29			—
R5		14.07		0.19		—		(4.56	)		(4.37	)		(0.14	)		(0.64	)		—		(0.78	)		(5.15	)		8.92		(32.71	)		8		0.98			0.98			0.98			1.65			—
Y		14.09		0.21		—		(4.57	)		(4.36	)		(0.16	)		(0.64	)		—		(0.80	)		(5.16	)		8.93		(32.65	)		211,366		0.88			0.88			0.88			1.76			—
For the Year Ended October 31, 2007
A		12.91		0.12		—		1.89			2.01			—			(0.79	)		—		(0.79	)		1.22			14.13		16.61	(h)		89,023		1.32			1.32			1.32			0.89			32
B		12.71		0.01		—		1.85			1.86			—			(0.79	)		—		(0.79	)		1.07			13.78		15.63	(h)		12,976		2.23			2.15			2.15			0.07			—
C		12.71		0.02		—		1.84			1.86			—			(0.79	)		—		(0.79	)		1.07			13.78		15.63	(h)		13,710		2.09			2.09			2.09			0.13			—
I(i)		13.85		0.03		—		0.27			0.30			—			—			—		—			0.30			14.15		2.17	(f)		46		1.00	(g)		1.00	(g)		1.00	(g)		1.00	(g)		—
R3(j)		12.51		0.05		—		1.44			1.49			—			—			—		—			1.49			14.00		11.91	(f)		11		1.65	(g)		1.65	(g)		1.65	(g)		0.47	(g)		—
R4(k)		12.51		0.09		—		1.43			1.52			—			—			—		—			1.52			14.03		12.15	(f)		11		1.35	(g)		1.35	(g)		1.35	(g)		0.78	(g)		—
R5(l)		12.51		0.12		—		1.44			1.56			—			—			—		—			1.56			14.07		12.47	(f)		11		1.05	(g)		1.05	(g)		1.05	(g)		1.07	(g)		—
Y		12.91		0.09		—		1.97			2.06			(0.09	)		(0.79	)		—		(0.88	)		1.18			14.09		17.07	(h)		301,813		0.89			0.89			0.89			1.30			—
For the Year Ended October 31, 2006
A		10.79		0.09		—		2.11			2.20			(0.08	)		—			—		(0.08	)		2.12			12.91		20.52			79,476		1.38			1.38			1.38			0.89			50
B		10.62		0.01		—		2.08			2.09			—			—			—		—			2.09			12.71		19.68			11,957		2.29			2.13			2.13			0.15			—
C		10.62		0.01		—		2.08			2.09			—			—			—		—			2.09			12.71		19.68			12,943		2.15			2.15			2.15			0.12			—
Y		10.79		0.15		—		2.10			2.25			(0.13	)		—			—		(0.13	)		2.12			12.91		21.07			72,054		0.92			0.92			0.92			1.36			—
For the Year Ended October 31, 2005
A		9.71		0.08		—		1.04			1.12			(0.04	)		—			—		(0.04	)		1.08			10.79		11.50			63,417		1.41			1.40			1.40			0.76			29
B		9.60		—		—		1.02			1.02			—			—			—		—			1.02			10.62		10.62			10,091		2.34			2.15			2.15			0.01			—
C		9.60		—		—		1.02			1.02			—			—			—		—			1.02			10.62		10.62			10,238		2.19			2.15			2.15			0.02			—
Y		9.71		0.12		—		1.05			1.17			(0.09	)		—			—		(0.09	)		1.08			10.79		12.06			60,218		0.93			0.93			0.93			1.19			—
For the Year Ended October 31, 2004 (e)
A		8.92		0.07		—		0.79			0.86			(0.07	)		—			—		(0.07	)		0.79			9.71		9.70			56,845		1.46			1.45			1.45			0.76			34
B		8.83		0.01		—		0.78			0.79			(0.02	)		—			—		(0.02	)		0.77			9.60		8.91			8,948		2.36			2.15			2.15			0.06			—
C		8.83		0.01		—		0.78			0.79			(0.02	)		—			—		(0.02	)		0.77			9.60		8.91			10,838		2.17			2.15			2.15			0.06			—
Y		8.95		0.10		—		0.77			0.87			(0.11	)		—			—		(0.11	)		0.76			9.71		9.76			21,373		0.91			0.91			0.91			1.32			—

(a)	Information presented relates to a share outstanding throughout the indicated period.
(b)	Assumes initial investment at net asset value at the beginning of each period, reinvestment of all distributions, the complete redemption of the investment at net asset value at the end of each period and no sales charge. Total return would be reduced if sales charges were taken into account.
(c)	Ratios do not include fees paid indirectly (See Expenses in the accompanying Notes to Financial Statements).
(d)	Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between the classes of shares issued.
(e)	Per share amounts have been calculated using average shares outstanding method.
(f)	Not annualized.
(g)	Annualized.
(h)	Total return without the inclusion of the Payments from (to) Affiliate, as noted on the Statement of Operations, can be found in Expenses in the accompanying Notes to Financial Statements.
(i)	Commenced operations on May 31, 2007.
(j)	Commenced operations on December 22, 2006.
(k)	Commenced operations on December 22, 2006.
(l)	Commenced operations on December 22, 2006.

19

The Hartford Value Fund

Directors and Officers (Unaudited)

The Board of Directors appoints officers who are responsible for the day-to-day operations of the Fund and who execute policies formulated by the Directors. Each director serves until his or her death, resignation, or retirement or until the next annual meeting of shareholders is held or until his or her successor is elected and qualifies.

Directors and officers who are employed by or who have a financial interest in The Hartford are considered “interested” persons of the Fund pursuant to the Investment Company Act of 1940, as amended. Each officer and three of the Fund’s directors, as noted in the chart below, are “interested” persons of the Fund. Each director serves as a director for The Hartford Mutual Funds, Inc., The Hartford Mutual Funds II, Inc., The Hartford Income Shares Fund, Inc., Hartford Series Fund, Inc., and Hartford HLS Series Fund II, Inc., which collectively consist of 100 funds. Correspondence may be sent to directors and officers c/o Hartford Mutual Funds, P.O. Box 2999, Hartford, Connecticut 06104-2999, except that correspondence to Ms. Fagely may be sent to 500 Bielenberg Drive, Woodbury, Minnesota 55125.

The table below sets forth, for each director and officer, his or her name, year of birth, current position with the Fund and date first elected or appointed to The Hartford Mutual Funds, Inc. (“MF”) and The Hartford Mutual Funds II, Inc. (“MF2”), principal occupation, and, for directors, other directorships held. The Fund’s statement of additional information contains further information on the directors and is available free of charge by calling 1-888-843-7824 or writing to Hartford Mutual Funds, P.O. Box 64387, St. Paul, MN 55164-0387.

Information on the aggregate remuneration paid to the directors of the Fund can be found in the Statement of Operations herein. The Fund pays a portion of the Chief Compliance Officer’s compensation, but does not pay salaries or compensation to any of its officers or directors who are employed by The Hartford.

Non-Interested Directors

Lynn S. Birdsong (1946) Director since 2003, Co-Chairman of the Investment Committee

Mr. Birdsong is a private investor. Since 1981, Mr. Birdsong has been a partner in Birdsong Company, an advertising specialty firm. Since 2003, Mr. Birdsong has been an independent director of The Japan Fund. From 2003 to March 2005, Mr. Birdsong was an independent director of the Atlantic Whitehall Funds. From 1979 to 2002, Mr. Birdsong was a managing director of Zurich Scudder Investments, an investment management firm. During his employment with Scudder, Mr. Birdsong was an interested director of The Japan Fund.

Robert M. Gavin, Jr. (1940) Director since 2002 (MF) and 1986 (MF2), Chairman of the Board since 2004

Dr. Gavin is an educational consultant. Prior to September 1, 2001, he was President of Cranbrook Education Community and prior to July 1996, he was President of Macalester College, St. Paul, Minnesota.

Duane E. Hill (1945) Director since 2001 (MF) and 2002 (MF2), Chairman of the Nominating Committee

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

Sandra S. Jaffee (1941) Director since 2005

Ms. Jaffee is Chairman and Chief Executive Officer of Fortent (formerly Searchspace Group), a leading provider of compliance/regulatory technology to financial institutions. Ms. Jaffee served as an Entrepreneur in Residence with Warburg Pincus, a private equity firm, from August 2004 to August 2005. From September 1995 to July 2004, Ms. Jaffee served as Executive Vice President at Citigroup, where she was President and Chief Executive Officer of Citibank’s Global Securities Services (1995-2003).

William P. Johnston (1944) Director since 2005, Chairman of the Compliance Committee

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

20

Phillip O. Peterson (1944) Director since 2002 (MF) and 2000 (MF2), Chairman of the Audit Committee

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

Lemma W. Senbet (1946) Director since 2005

Dr. Senbet is the William E. Mayer Chair Professor of Finance at the University of Maryland, Robert H. Smith School of Business. He was chair of the Finance Department during 1998-2006. Previously he was an endowed professor of finance at the University of Wisconsin-Madison. Also, he was director of the Fortis Funds from March 2000-July 2002. Dr. Senbet served the finance profession in various capacities, including as director of the American Finance Association and President of the Western Finance Association. In 2006, Dr. Senbet was inducted Fellow of Financial Management Association International for his career-long distinguished scholarship and professional service.

Interested Directors and Officers

Thomas M. Marra* (1958) Director since 2002

Mr. Marra has served as President and Chief Operating Officer of The Hartford Financial Services Group, Inc. (“The Hartford”) since 2007. Mr. Marra currently serves as Director of Hartford Life, Inc. (“HL, Inc.”). Mr. Marra served as Chief Operating Officer of Hartford Life Insurance Company, Inc. (“Hartford Life”) (2000-2008), as President of Hartford Life (2002-2008) and as Director of Hartford Life’s Investment Products Division from 1998 to 2000.

*   On February 24, 2009, The Hartford and Mr. Marra determined to enter into a mutually agreed separation whereby Mr. Marra will retire, and his role as an executive officer and employee of The Hartford will terminate, effective July 3, 2009. Mr. Marra will resign his position as a Director of the Fund effective June 25, 2009.

Lowndes A. Smith (1939) Director since 2002, Co-Chairman of the Investment Committee

Mr. Smith served as Vice Chairman of The Hartford from February 1997 to January 2002, as President and Chief Executive Officer of Hartford Life, Inc. from February 1997 to January 2002, and as President and Chief Operating Officer of The Hartford Life Insurance Companies from January 1989 to January 2002. Mr. Smith serves as a Director of White Mountains Insurance Group, Ltd., One Beacon Insurance, Symetra Financial and as a Managing Director of Whittington Gray Associates.

John C. Walters* (1962) Director since 2008

Mr. Walters currently serves as Chief Executive Officer, President and Director of HL, Inc. Mr. Walters previously served as President of the U.S. Wealth Management Division of Hartford Life, Inc., as Co-Chief Operating Officer of Hartford Life Insurance Company (2007-2008) and as Executive Vice President and Director of its Investment Products Division (2000-2008). Mr. Walters also serves as Chairman of the Board, Chief Executive Officer, President and Director of Hartford Life Insurance Company and as Executive Vice President of The Hartford. In addition, Mr. Walters is Manager of HL Investment Advisors, LLC (“HL Advisors”).

*   Mr. Walters previously served as President and Chief Executive Officer of the Fund (2007 — 2009).

Other Officers

Robert M. Arena, Jr. (1968) President and Chief Executive Officer since 2009 (served as Vice President of the Fund (2006 — 2009))

Mr. Arena serves as Executive Vice President of Hartford Life Insurance Company, (“Hartford Life”). Additionally, Mr. Arena is Director and Senior Vice President of Hartford Administrative Services Company, (“HASCO”), Manager, Chief Executive Officer and President of Hartford Investment Financial Services, LLC (“HIFSCO”) and HL Advisors. Prior to joining The Hartford in 2004, he was Senior Vice President in charge of Product Management for American Skandia/Prudential in the individual annuities division. Mr. Arena joined American Skandia in 1996.

Tamara L. Fagely (1958) Vice President, Treasurer and Controller since 2002 (MF) 1993 (MF2)

Ms. Fagely has been a Vice President of HASCO since 1998 and Chief Financial Officer since 2006. Currently Ms. Fagely is a Vice President of Hartford Life. She served as Assistant Vice President of Hartford Life from December 2001 through March 2005. In addition, Ms. Fagely is Controller and Chief Financial Officer of HIFSCO.

Brian Ferrell (1962) AML Compliance Officer since 2008

Mr. Ferrell has served as Assistant Vice President and AML Compliance Officer for The Hartford since 2006 and as AML Compliance Officer for HASCO and Hartford Investor Services Company, LLC (“HISC”) since 2008. Prior to joining The Hartford in 2006, Mr. Ferrell held various positions at the U.S. Department of the Treasury, (the “Treasury”), from 2001 to 2006 where he served as Chief Counsel for the Treasury’s Financial Crimes Enforcement Network, (“FinCEN”) from 2005 — 2006.

21

The Hartford Value Fund
Directors and Officers (Unaudited) — (continued)

Thomas D. Jones, III (1965) Vice President and Chief Compliance Officer since 2006

Mr. Jones serves as Chief Compliance Officer for the Hartford Mutual Funds and Vice President and Director of Securities Compliance for The Hartford. He is also Vice President of HIFSCO, HL Advisors, and Hartford Life Insurance Company. Mr. Jones joined The Hartford in 2006 from SEI Investments, where he served as Chief Compliance Officer for its mutual funds and investment advisers. Prior to joining SEI, Mr. Jones was First Vice President and Compliance Director for Merrill Lynch Investment Managers (Americas) (“MLIM”), where he worked from 1992-2004. At MLIM, Mr. Jones was responsible for the compliance oversight of various investment products, including mutual funds, wrap accounts, institutional accounts and alternative investments.

Edward P. Macdonald (1967) Vice President, Secretary and Chief Legal Officer since 2005

Mr. Macdonald serves as Assistant General Counsel and Assistant Vice President of The Hartford and Chief Legal Officer and Vice President of HIFSCO. He also serves as Vice President and Secretary of HASCO, Assistant Vice President of Hartford Life, and Chief Legal Officer, Secretary and Vice President of HL Advisors. Prior to joining The Hartford in 2005, Mr. Macdonald was Chief Counsel, Investment Management for Prudential Financial (formerly American Skandia Investment Services, Inc.). He joined Prudential in April 1999.

Vernon J. Meyer (1964) Vice President since 2006

Mr. Meyer serves as Senior Vice President of Hartford Life and as Director of its Investment Advisory Group in the Individual Markets Group segment. He also serves as Senior Vice President of HIFSCO and HL Advisors. Prior to joining The Hartford in 2004, Mr. Meyer was with MassMutual which he joined in 1987.

D. Keith Sloane (1960) Vice President since 2009

Mr. Sloane is a Senior Vice President of Hartford Life where he serves as Director of mutual fund product management for The Hartford’s mutual funds and 529 college savings businesses. Additionally, Mr. Sloane currently serves as Senior Vice President of HIFSCO, HL Advisors, and HASCO. Prior to joining The Hartford in 2007, Mr. Sloane was Director of product marketing and led the mutual fund business for Wachovia Securities (“Wachovia”) in their investment products group. Mr. Sloane joined Wachovia in 1995.

Jane Wolak (1961) Vice President since 2009

Ms. Wolak currently serves as Vice President of Hartford Life. Ms. Wolak joined Hartford Life as Vice President, Retail Product Services in May 2007. She is also Vice President of HASCO. Previously, Ms. Wolak was with Sun Life Financial where she held the position of Vice President, Service Center Operations from 2001 — 2007.

HOW TO OBTAIN A COPY OF THE FUND’S PROXY VOTING POLICIES AND VOTING RECORDS

A description of the policies and procedures that the Fund uses to determine how to vote proxies relating to portfolio securities and a record of how the Fund voted any proxies for the twelve-month period ended June 30, 2008 is available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov.

QUARTERLY PORTFOLIO HOLDINGS INFORMATION

The Fund files a complete schedule of portfolio holdings with the Commission for the first and third quarters of each fiscal year on Form N-Q. The Fund’s Forms are available (1) without charge, upon request, by calling 888-843-7824 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov. The Form N-Q may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330.

22

The Hartford Value Fund

Expense Example (Unaudited)

Your Fund’s Expenses

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments and contingent deferred sales charges (CDSC) (2) ongoing costs including management fees; distribution fees; and other fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the period of October 31, 2008 through April 30, 2009.

Actual Expenses

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

Hypothetical Example for Comparison Purposes

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

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads) and CDSC. Therefore, the second line 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 are equal to the Fund’s annualized expense ratios multiplied by average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

	Actual return						Hypothetical (5% return before expenses)
					Expenses paid						Expenses paid					Days in
					during the period						during the period					the		Days
	Beginning		Ending Account		October 31, 2008		Beginning		Ending Account		October 31,		Annualized			current		in the
	Account Value		Value		through		Account Value		Value		2008 through		expense			1/2		full
	October 31, 2008		April 30, 2009		April 30, 2009		October 31, 2008		April 30, 2009		April 30, 2009		ratio			year		year
Class A	$	1,000.00	$	922.20	$	6.67	$	1,000.00	$	1,017.85	$	7.00		1.40	%		181		365
Class B	$	1,000.00	$	920.55	$	8.66	$	1,000.00	$	1,015.76	$	9.09		1.82			181		365
Class C	$	1,000.00	$	919.67	$	10.04	$	1,000.00	$	1,014.33	$	10.53		2.11			181		365
Class I	$	1,000.00	$	924.27	$	4.72	$	1,000.00	$	1,019.88	$	4.95		0.99			181		365
Class R3	$	1,000.00	$	920.52	$	7.85	$	1,000.00	$	1,016.61	$	8.25		1.65			181		365
Class R4	$	1,000.00	$	922.65	$	6.24	$	1,000.00	$	1,018.29	$	6.55		1.31			181		365
Class R5	$	1,000.00	$	924.01	$	4.86	$	1,000.00	$	1,019.73	$	5.10		1.02			181		365
Class Y	$	1,000.00	$	924.27	$	4.29	$	1,000.00	$	1,020.33	$	4.50		0.90			181		365

23

Item 2. Code of Ethics.

     Not applicable to this semi-annual filing.

Item 3. Audit Committee Financial Expert.

     Not applicable to this semi-annual filing.

Item 4. Principal Accountant Fees and Services.

     Not applicable to this semi-annual filing.

Item 5. Audit Committee of Listed Registrants.

     Not applicable to this semi-annual filing.

Item 6. Schedule of Investments

     The Schedule of Investments is included as part of the semi-annual report filed under Item 1 of this form.

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

     Not applicable.

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

     Not applicable.

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

     Not applicable.

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

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

Item 11. Controls and Procedures.

(a) Based on an evaluation of the Registrant’s Disclosure Controls and Procedures as of a date within 90 days of the filing date of this report, the Disclosure Controls and Procedures are effectively designed to ensure that information required to be disclosed by the Registrant is recorded, processed, summarized and reported by the date of this report, including ensuring that information required to be disclosed in the report is accumulated and communicated to the Registrant’s management, including the Registrant’s officers, as appropriate, to allow timely decisions regarding required disclosure.

(b) There was no change in the Registrant’s internal control over financial reporting that occurred during the Registrant’s last fiscal half year that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 12. Exhibits.

11(a) (2) Section 302 certifications of the principal executive officer and principal financial officer of Registrant.

    (b)       Section 906 certification.

SIGNATURES

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

	THE HARTFORD MUTUAL FUNDS, INC.
Date: June 16, 2009	By:	/s/ John C. Walters
		John C. Walters
		Its: President

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

Date: June 16, 2009	By:	/s/ John C. Walters
		John C. Walters
		Its: President
Date: June 16, 2009	By:	/s/ Tamara L. Fagely
		Tamara L. Fagely
		Its: Vice President, Controller and Treasurer

EXHIBIT LIST

99.CERT	11(a)(2)	Certifications
		(i) Section 302 certification of principal executive officer
		(ii) Section 302 certification of principal financial officer
99.906CERT	11(b)	Section 906 certification of principal executive officer and principal financial officer