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)
Kevin J. Carr, Esquire
Investment Law Unit
The Hartford Financial Services Group, Inc.
55 Farmington Avenue
Hartford, Connecticut 06105
(Name and Address of Agent for Service)
Registrant's telephone number, including area code: (860) 297-6443
Date of fiscal year end: October 31st
Date of reporting period: November 1, 2002 - April 30, 2003
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. Section 3507.
ITEM 1. REPORTS TO STOCKHOLDERS.
Item 1
[BUCK GRAPHIC]
Semi-Annual Report
April 30, 2003
- Manager Discussions
- Financials
Please note that the responses to the questions: How did the
Fund perform? and, Why did the Fund perform this way?,
represent the views of the portfolio manager(s) of the
applicable fund.
[HARTFORD LOGO]
THE HARTFORD MUTUAL FUNDS, INC.
THE HARTFORD MUTUAL FUNDS II, INC.
TABLE
OF
CONTENTS
Manager Discussions 1
The Hartford Mutual Funds, Inc. and The Hartford Mutual Funds II, Inc.
Financial Statements
Schedule of Investments and Statements of Assets and Liabilities as of
April 30, 2003:
The Hartford Advisers Fund 36
The Hartford Capital Appreciation Fund 42
The Hartford Dividend and Growth Fund 45
The Hartford Focus Fund 47
The Hartford Global Communications Fund 49
The Hartford Global Financial Services Fund 51
The Hartford Global Health Fund 53
The Hartford Global Leaders Fund 55
The Hartford Global Technology Fund 58
The Hartford Growth and Income Fund 60
The Hartford Growth Fund 62
The Hartford Growth Opportunities Fund 64
The Hartford High Yield Fund 66
The Hartford Income Fund 75
The Hartford Inflation Plus Fund 79
The Hartford International Capital Appreciation Fund 81
The Hartford International Opportunities Fund 84
The Hartford International Small Company Fund 88
The Hartford MidCap Fund 92
The Hartford MidCap Value Fund 95
The Hartford Money Market Fund 97
The Hartford Short Duration Fund 99
The Hartford Small Company Fund 104
The Hartford SmallCap Growth Fund 106
The Hartford Stock Fund 109
The Hartford Tax-Free California Fund 111
The Hartford Tax-Free Minnesota Fund 114
The Hartford Tax-Free National Fund 117
The Hartford Tax-Free New York Fund 123
The Hartford Total Return Bond Fund 125
The Hartford U.S. Government Securities Fund 132
The Hartford Value Fund 134
The Hartford Value Opportunities Fund 136
Statements of Operations for the Period Ended April 30, 2003 138
Statements of Changes in Net Assets for the Period Ended April 30, 2003
and October 31, 2002 146
Notes to Financial Statements 163
Financial Highlights 180
Directors and Officers 201
Privacy Policy 206
IMPORTANT FUND INFORMATION
The following disclosure applies to all of The Hartford Mutual Funds:
The graphs on the following pages represent hypothetical investments in The
Hartford Mutual Funds. Past performance does not guarantee future results.
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 an affiliate of the investment adviser, without which
performance would have been lower. For information on current expense waivers /
reimbursements, please see the prospectus.
The Hartford Advisers Fund (1), (2), (3)
The Hartford Capital Appreciation Fund (1), (2), (3)
The Hartford Dividend and Growth Fund (1), (2), (3)
The Hartford Focus Fund (2), (3)
The Hartford Global Communications Fund (2), (3)
The Hartford Global Financial Services Fund (2), (3)
The Hartford Global Health Fund (2), (3)
The Hartford Global Leaders Fund (2), (3)
The Hartford Global Technology Fund (2), (3)
The Hartford Growth & Income Fund (1), (2), (3)
The Hartford Growth Fund (4), (5), (6)
The Hartford Growth Opportunities (4), (5), (6)
The Hartford High Yield Fund (2), (3)
The Hartford Income Fund (2), (3)
The Hartford Inflation Plus Fund (2), (3)
The Hartford International Capital Appreciation Fund (2), (3)
The Hartford International Opportunities Fund (1), (2), (3)
The Hartford International Small Company Fund (2), (3)
The Hartford MidCap Fund (1), (2), (3)
The Hartford MidCap Value Fund (2), (3)
The Hartford Short Duration Fund (2), (3)
The Hartford Small Company Fund (1), (2), (3)
The Hartford SmallCap Growth Fund (4), (5), (6)
The Hartford Stock Fund (1), (2), (3)
The Hartford Tax-Free California Fund (2), (3)
The Hartford Tax-Free Minnesota Fund (7), (8), (9)
The Hartford Tax-Free National Fund (7), (8), (9)
The Hartford Tax-Free New York Fund (2), (3)
The Hartford Total Return Bond Fund (1), (2), (3)
The Hartford U.S. Government Securities Fund (7), (8), (9)
The Hartford Value Fund (2), (3)
The Hartford Value Opportunities Fund (4), (5), (6)
1 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.
2 The initial investment in Class A and C shares reflects the maximum sales
charge and Class B shares reflect a CDSC.
3 Growth of a $10,000 Investment in Class B, C and Y shares will vary from
the results seen on the following pages due to differences in the expenses
charged to these share classes.
4 New Class A, B and C shares were offered beginning on February 19, 2002.
Performance prior to that date is that of the fund's Class L, M and N
shares, respectively, which have lower operating expenses. Performance
prior to February 19, 2002 would have been lower if Class A, B and C share
expenses were applied during that period.
5 The initial investment in Class A, C and L shares reflects the maximum
sales charges and B, H, M and N shares reflect a CDSC.
6 Growth of a $10,000 Investment in Class B, C, H, L, M, N, Y and Z shares
will vary from the results seen on the following pages due to differences
in expenses charged to these share classes.
7 New Class A, B and C shares were offered beginning on February 19, 2002.
Performance prior to that date is of the fund's Class E, M and N shares,
respectively, which have lower operating expenses. Performance prior to
February 19, 2002 would have been lower if Class A, B and C share expenses
were applied during that period.
8 The initial investment in Class A, C, E and L shares reflects the maximum
sales charge and B, H, M and N shares reflect a CDSC.
9 Growth of a $10,000 Investment in Class B, C, E, H, L, M, N and Y shares
will vary from the results seen on the following pages due to differences
in expenses charged to these share classes.
1
COMPARATIVE BENCHMARKS appear throughout the fund commentary as a measure of
fund performance.
S & P 500 INDEX is a market capitalization weighted price index composed of 500
widely held common stocks.
S & P MIDCAP 400 INDEX is an unmanaged index measuring the performance of the
mid-size company segment of the U.S. market.
S & P BARRA VALUE INDEX is an unmanaged capitalization weighted index of all the
stocks in the S & P 500 that have low price-to-book ratios.
MSCI AC (ALL COUNTRY) WORLD FREE TELECOMMUNICATIONS SERVICES INDEX is a free
float-adjusted market capitalization index of developed and emerging market
countries that is designed to measure international equity market performance.
MSCI AC 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.
MSCI WORLD INDEX is a broad based, unmanaged, market capitalization weighted,
total return index that measures the performance of 23 developed country global
stock markets, including the United States, Canada, Europe, Australia, New
Zealand and the Far East.
MSCI FINANCIAL EX-REAL ESTATE INDEX is a cap-weighted index that measures the
performance of financial stocks from around the world. This index excludes real
estate.
MSCI EAFE - the Morgan Stanley Capital International Europe, Australia and Far
East Index is a free float-adjusted capitalization index that is designed to
measure developed market equity performance; excluding the U.S. and Canada.
EAFE GDP - the Morgan Stanley Europe, Australia, Far East GDP Index is an
unmanaged index of stocks of companies representing stock markets in Europe,
Australia, New Zealand and the Far East.
GOLDMAN SACHS HEALTH CARE INDEX is an unmanaged index designed to measure the
performance of companies in the health care sector. Issues in the index include
providers of health care related services including long-term care and
hospitalization facilities, health care management organizations and continuing
care services.
GOLDMAN SACHS TECHNOLOGY COMPOSITE INDEX is an unmanaged index designed to
measure performance of companies in the technology sector. Issues in the index
include producers of sophisticated devices, services and software related to the
fields of computers, electronics, networking and Internet services.
CITIGROUP BROAD MARKET EURO-PACIFIC <$2B INDEX takes the entire international
universe of all stocks, and divides it evenly each year to include only those
companies with a market cap between $100m and $2b regardless of country or
industry. This represents roughly the bottom 20% of the international equity
market.
RUSSELL 2000 INDEX measures the performance of the 2,000 smallest companies in
the Russell 3000 Index.
RUSSELL 2500 INDEX measures the performance of the 2,500 smallest companies in
the Russell 3000 Index.
RUSSELL 1000 GROWTH INDEX is an unmanaged index that measures the performance of
those Russell 1000 Index companies with higher price-to-book ratios and higher
forecasted growth values.
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.
RUSSELL 3000 GROWTH INDEX is an unmanaged index that measures the performance of
those Russell 3000 Index companies with higher price-to-book ratios and higher
forecasted growth values.
RUSSELL 1000 VALUE INDEX measures the performance of those Russell 1000 Index
companies with lower price-to-book ratios and lower forecasted growth values.
RUSSELL 2500 VALUE INDEX measures the performance of those Russell 2500 Index
companies with lower price-to-book ratios and lower forecasted growth values.
RUSSELL 3000 VALUE INDEX is an unmanaged index measuring the performance of
those Russell 3000 Index companies with lower price-to-book ratios and lower
forecasted growth values.
LEHMAN BROTHERS GOVERNMENT/CREDIT BOND INDEX is a broad based 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.
LEHMAN BROTHERS CORPORATE HIGH YIELD 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.
LEHMAN BROTHERS INTERMEDIATE GOVERNMENT INDEX is an unmanaged index of
government bonds with maturities of between one and ten years.
LEHMAN BROTHERS MUNICIPAL BOND INDEX is an unmanaged index of municipal bonds
with maturities greater than two years.
LEHMAN BROTHERS U.S. AGGREGATE BOND INDEX is an unmanaged index and is composed
of securities from the Lehman Brothers Government/Credit Bond Index,
Mortgage-Backed Securities Index, Asset-Backed Securities Index and Commercial
Mortgage-Backed Securities Index.
LEHMAN CALIFORNIA EXEMPT INDEX an unmanaged index of municipal bonds issued by
the State of California with maturities greater than two years.
LEHMAN NEW YORK EXEMPT INDEX an unmanaged index of municipal bonds issued by the
State of New York with maturities greater than two years.
LEHMAN U.S. GOVERNMENT INDEX an unmanaged index of government bonds with
maturities of one year or more.
LEHMAN BROTHERS 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.
LEHMAN BROTHERS 1-5 YEAR U.S. GOVERNMENT/CREDIT INDEX an unmanaged index
comprised of the U.S. Government/Credit component of the U.S. Aggregate Index.
The Government/Credit Index includes securities in the 1-5 year maturity range
in the Government and Credit Indices.
2
The Hartford Advisers Fund
PERFORMANCE OVERVIEW 7/22/96 - 4/30/03
Growth of a $10,000 investment in Class A which includes Sales Charge 3
[LINE CHART]
Advisers S & P 500 Lehman Brothers
Fund Index Government/Credit
Bond Index
$9,450 $10,000 $10,000
$10,188 $11,198 $10,430
$10,923 $12,542 $10,517
$11,123 $12,845 $10,565
$12,750 $15,368 $11,122
$12,484 $14,790 $11,349
$13,127 $15,914 $11,691
$14,383 $18,118 $11,762
$14,907 $18,333 $12,019
$14,766 $18,044 $12,514
$16,063 $21,086 $12,711
$16,678 $22,070 $12,501
$16,633 $22,035 $12,300
$16,771 $22,674 $12,432
$17,074 $23,265 $12,346
$17,964 $24,304 $12,619
$17,840 $24,010 $13,001
$18,086 $24,054 $13,318
$18,111 $23,057 $14,045
$17,388 $21,153 $14,147
$17,079 $20,574 $14,653
$16,157 $18,070 $15,358
$16,648 $19,341 $15,096
$15,951 $18,488 $15,205
$14,721 $15,717 $15,661
$14,475 $15,342 $16,199
$15,028 $16,029 $17,093
AVERAGE ANNUAL TOTAL RETURNS (as of 4/30/03) 1, 2
INCEPTION
Standardized DATE 1 YEAR 5 YEAR SINCE INCEPTION
- ------------ --------- ------ ---- ---------------
Advisers A 7/22/96 -10.97% -0.25% 6.20%
Advisers B 7/22/96 -11.10% -0.17% 6.35%
Advisers C 7/22/96 -8.31% -0.01% 6.19%
Advisers Y 7/22/96 -5.14% 1.41% 7.62%
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
Please see page 1 for important additional information including inception dates
and expenses.
PORTFOLIO MANAGERS
RAND L. ALEXANDER, CFA
Senior Vice President, Partner
Wellington Management Company, LLP
PAUL D. KAPLAN
Senior Vice President, Partner, Director of Fixed Income
Wellington Management Company, LLP
HOW DID THE FUND PERFORM?
The Hartford Advisers Fund Class A shares returned 3.82%, before sales charge,
for the six-month period ended April 30, 2003. The Fund underperformed both the
Lipper Flexible Average 3.88% and the Fund's benchmark (S&P 500 Index 55%;
Lehman Brothers Government/Credit Bond Index 35%; T-Bills 10%) 4.66%.
WHY DID THE FUND PERFORM THIS WAY?
During the period, small-cap stocks outperformed large-cap stocks, as the
Russell 2000 Index returned 7.55%, while the S&P 500 Index returned 4.48%.
Within large-cap stocks, value outperformed growth. Since the 50 basis point
reduction in November, the Federal Reserve made no changes in short-term
interest rates and the rest of the structure of yields in the Treasury market
was little changed. Clearly, the bond market was uncertain as to the effects of
war in Iraq and the general condition of the economy and, although there were
minor market moves as the news changed, the general level of uncertainty kept
interest rates from moving dramatically.
Relative to its benchmark, the Fund's equities underperformed in the period
primarily due to individual stock selection rather than sector weighting
decisions. While the Fund benefited from an overweight position in Health Care
and an underweight position in Telecommunication Services, stock selection in
Technology, Industrials, and Utilities detracted from results. The three biggest
contributors to performance were Citigroup (Financials), IBM (Technology), and
Genzyme (Health Care). The three biggest detractors were Safeway (Consumer
Discretionary), Baxter (Health Care), and Northrup Grumman (Industrials).
3
The Hartford Capital Appreciation Fund
PERFORMANCE OVERVIEW 7/22/96 - 4/30/03
Growth of a $10,000 investment in Class A which includes Sales Charge 3
[LINE CHART]
Capital S&P 500
Appreciation Index
Fund
$9,450 $10,000
$11,671 $11,198
$14,118 $12,542
$13,485 $12,845
$19,319 $15,368
$20,367 $14,790
$19,713 $15,914
$22,432 $18,118
$20,376 $18,333
$18,243 $18,044
$22,388 $21,086
$24,154 $22,070
$26,808 $22,035
$27,022 $22,674
$34,369 $23,265
$35,674 $24,304
$36,736 $24,010
$38,312 $24,054
$39,802 $23,057
$38,735 $21,153
$36,845 $20,574
$31,706 $18,070
$33,773 $19,341
$32,170 $18,488
$26,594 $15,717
$26,192 $15,342
$27,792 $16,029
AVERAGE ANNUAL TOTAL RETURNS (as of 4/30/03) 1, 2
INCEPTION
Standardized DATE 1 YEAR 5 YEAR SINCE INCEPTION
- ------------ ---- ------ ------ ---------------
Cap App A 7/22/96 -18.35% 3.20% 16.30%
Cap App B 7/22/96 -18.49% 3.31% 16.46%
Cap App C 7/22/96 -15.98% 3.46% 16.32%
Cap App Y 7/22/96 -13.09% 4.89% 17.85%
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
Please see page 1 for important additional information including inception dates
and expenses.
PORTFOLIO MANAGER
SAUL J. PANNELL, CFA
Senior Vice President, Partner
Wellington Management Company, LLP
HOW DID THE FUND PERFORM?
The Hartford Capital Appreciation Fund Class A shares returned 3.27%, before
sales charge, for the six-month period ended April 30, 2003. The Fund's return
trailed the 4.48% return for the S&P 500 Index and that of the Lipper Multi-Cap
Core Mutual Fund Average, which returned 3.9% for the same time period.
WHY DID THE FUND PERFORM THIS WAY?
During the period, the S&P 500, an index of large cap stocks, returned 4.48%,
trailing the Russell 2500, an index of medium and smaller cap companies, which
gained 7.9%. Underperformance of the Fund was primarily due to stock selection
as sector allocation in aggregate had little impact on the portfolio's relative
performance. The Fund was disadvantaged by below average stock picking within
Health Care and Industrials, while Consumer Staples and Telecommunication
Services names contributed positively to relative returns. The top three
contributors to absolute returns were Nextel Communications (Telecommunication
Services), Comcast (Consumer Discretionary), and Halliburton (Energy). The top
three detractors from absolute performance were Northrop Grumman (Industrials),
AGCO Corp. (Industrials), and HealthSouth (Health Care).
4
The Hartford Dividend and Growth Fund
PERFORMANCE OVERVIEW 7/22/96 - 4/30/03
Growth of a $10,000 investment in Class A which includes Sales Charge (3)
[LINE CHART]
DIVIDEND AND
GROWTH FUND S & P 500
INDEX
$9,450 $10,000
$10,423 $11,198
$11,409 $12,542
$11,504 $12,845
$13,652 $15,368
$13,356 $14,790
$14,454 $15,914
$15,771 $18,118
$15,553 $18,333
$15,434 $18,044
$16,179 $21,086
$17,330 $22,070
$16,913 $22,035
$16,962 $22,674
$16,393 $23,265
$16,960 $24,304
$16,774 $24,010
$18,242 $24,054
$18,509 $23,057
$18,653 $21,153
$18,597 $20,574
$16,841 $18,070
$17,983 $19,341
$17,970 $18,488
$15,855 $15,717
$15,065 $15,342
$15,586 $16,029
AVERAGE ANNUAL TOTAL RETURNS (as of 4/30/03) (1,2)
INCEPTION
Standardized DATE 1 YEAR 5 YEAR SINCE INCEPTION
- ------------ ---- ------ ------ ---------------
Div & Growth A 7/22/96 -18.05% -1.35% 6.78%
Div & Growth B 7/22/96 -18.12% -1.30% 6.91%
Div & Growth C 7/22/96 -15.64% -1.11% 6.78%
Div & Growth Y 7/22/96 -12.67% 0.30% 8.22%
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
Please see page 1 for important additional information including inception dates
and expenses.
PORTFOLIO MANAGER
EDWARD P. BOUSA, CFA
Vice President
Wellington Management Company, LLP
HOW DID THE FUND PERFORM?
The Hartford Dividend and Growth Fund Class A shares returned 3.46%, before
sales charge, for the six-month period ended April 30, 2003. The Fund
underperformed its competitive group as represented by the Lipper Equity Income
MF Average, which provided a return of 4.1% and the S&P 500 Index, which
provided a return of 4.48% over the same period.
WHY DID THE FUND PERFORM THIS WAY?
For the period, Utilities (12%), Materials (9%), and Information Technology (8%)
were the best performing S&P sectors, while Telecommunications (-2%) and
Consumer Staples performed the worst. The Fund's overweight to Materials and
Utilities and underweight of Consumer Staples helped relative performance.
Unfortunately, strong sector allocation was unable to offset poor security
selection during the period. Stock picking was weakest among Consumer Staples
and Health Care names and strongest among Financials. The top three contributors
for the period were Caterpillar (Industrials), IBM (Information Technology) and
Household International (Financials). The top three detractors from absolute
performance were AT&T (Telecommunications), Schering-Plough (Health Care), and
Sara Lee (Consumer Staples).
5
The Hartford Focus Fund
PERFORMANCE OVERVIEW 5/24/01 - 4/30/03
Growth of a $10,000 investment in Class A which includes Sales Charge (3)
[LINE CHART]
FOCUS S & P 500
FUND INDEX
$9,450 $10,000
$8,996 $9,386
$8,335 $8,242
$9,176 $8,822
$8,439 $8,433
$7,125 $7,169
$6,917 $6,998
$6,926 $6,792
$7,228 $7,311
AVERAGE ANNUAL TOTAL RETURNS (as of 4/30/03) (2)
Standardized INCEPTION DATE 1 YEAR SINCE INCEPTION
- ------------ -------------- ------ ---------------
Focus A 5/24/01 -19.05% -15.39%
Focus B 5/24/01 -19.14% -15.29%
Focus C 5/24/01 -16.84% -13.99%
Focus Y 5/24/01 -13.94% -12.49%
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
Please see page 1 for important additional information including inception dates
and expenses.
PORTFOLIO MANAGER
RAND L. ALEXANDER, CFA
Senior Vice President, Partner
Wellington Management Company, LLP
ASSOCIATE PORTFOLIO MANAGER
MAYA K. BITTAR, CFA
Vice President
Wellington Management Company, LLP
HOW DID THE FUND PERFORM?
Hartford Focus Fund Class A shares returned 4.51% for the six-month period ended
April 30, 2003, before sales charge, outperforming its Lipper Large Cap-Core MF
Average 3.0% and in line with the S&P 500 Index 4.48%.
WHY DID THE FUND PERFORM THIS WAY?
The six-months ended April 30, 2003, were a turning point as most major market
indices posted positive returns. On a relative basis, small-caps outperformed
mid-cap and large-cap stocks and value outperformed growth. Eight of the ten
sectors posted positive gains for the period with Utilities, Materials and
Technology leading the way. Strong stock selection was the primary contributor
to out-performance. Specifically, our positions within the Financials, Materials
and Consumer Discretionary sectors added to performance, while our holdings in
Consumer Staples, Technology and Telecommunications detracted. Three
contributors to performance included Comcast (Media), Travelers (Insurance) and
Halliburton (Energy).
6
The Hartford Global Communications Fund
PERFORMANCE OVERVIEW 10/31/00 - 4/30/03
Growth of a $10,000 investment in Class A which includes Sales Charge (3)
[LINE CHART]
GLOBAL MSCI AC S & P 500
COMMUNICATIONS WORLD FREE INDEX
FUND TELECOMMUNICATIONS
SERVICES INDEX
$9,450 $10,000 $10,000
$8,883 $9,231 $9,586
$6,492 $7,922 $8,794
$5,585 $6,911 $8,553
$4,319 $6,020 $7,513
$4,101 $5,776 $8,041
$3,317 $4,977 $7,686
$2,731 $4,254 $6,534
$3,061 $4,411 $6,378
$3,156 $4,494 $6,191
$3,383 $4,713 $6,664
AVERAGE ANNUAL TOTAL RETURNS (as of 4/30/03) (2)
Standardized INCEPTION DATE 1 YEAR SINCE INCEPTION
- ------------ -------------- ------ ---------------
Global Comm A 10/31/00 -3.50% -35.17%
Global Comm B 10/31/00 -3.85% -34.94%
Global Comm C 10/31/00 -0.86% -34.40%
Global Comm Y 10/31/00 2.26% -33.40%
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
Please see page 1 for important additional information including inception dates
and expenses.
PORTFOLIO MANAGEMENT TEAM
ARCHANA BASI, CFA
Vice President, Portfolio Coordinator, Global Industry Analyst
Wellington Management Company, LLP
DAVID NINCIC, CFA
Vice President, Global Industry Analyst
Wellington Management Company, LLP
HOW DID THE FUND PERFORM?
The Hartford Global Communications Fund Class A shares returned 10.49%, before
sales charge, for the six-month period ended April 30, 2003. The Fund
significantly outperformed the MSCI AC (All Country) World Free
Telecommunications Services Index, which returned 6.86%, and the Lipper
Telecommunications Mutual Fund Average, which returned 6.4% over the same
period.
WHY DID THE FUND PERFORM THIS WAY?
During the period, telecommunications stocks had positive returns that outpaced
other broad sectors, as the MSCI Telecommunications Services sector returned
6.86% versus the 3.9% return of the MSCI World Index. Relative to the MSCI AC
World Free Telecommunications Services Index, the Fund's stock selection and
sector allocation was additive to relative performance. Over the six-month
period, we moved from an underweight to overweight position in the integrated
telecommunications companies sub-sector versus the benchmark. For the Fund, the
greatest contributors to absolute return were Citizens Communications and
Telekom Austria, while the greatest detractors were AT&T and Nextel Partners.
7
The Hartford Global Financial Services Fund
PERFORMANCE OVERVIEW 10/31/00 - 4/30/03
Growth of a $10,000 investment in Class A which includes Sales Charge (3)
[LINE CHART]
GLOBAL FINANCIAL MSCI FINANCE EX S & P 500
SERVICES FUND REAL ESTATE INDEX INDEX
$9,450 $10,000 $10,000
$9,857 $10,361 $9,586
$9,715 $9,501 $8,794
$9,885 $9,166 $8,553
$8,854 $8,117 $7,513
$8,949 $8,330 $8,041
$9,430 $8,799 $7,686
$8,079 $7,630 $6,534
$7,588 $7,314 $6,378
$7,205 $6,191 $6,988
$7,718 $7,651 $6,664
AVERAGE ANNUAL TOTAL RETURNS (as of 4/30/03) (2)
Standardized INCEPTION DATE 1 YEAR SINCE INCEPTION
- ------------ -------------- ------ ---------------
Global Fin Ser A 10/31/00 -22.65% -9.83%
Global Fin Ser B 10/31/00 -22.81% -9.56%
Global Fin Ser C 10/31/00 -20.45% -8.77%
Global Fin Ser Y 10/31/00 -17.76% -7.37%
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
Please see page 1 for important additional information including inception dates
and expenses.
PORTFOLIO MANAGEMENT TEAM
MARK T. LYNCH, CFA
Senior Vice President,
Partner, Portfolio Coordinator,
Global Industry Analyst
Wellington Management Company, LLP
THEODORE SHASTA, CFA
Senior Vice President,
Partner, Global Industry Analyst
Wellington Management Company, LLP
R. ANDREW HEISKELL
Vice President
Global Industry Analyst
Wellington Management Company, LLP
ERIC HALET
Vice President, Global Industry Analyst
Wellington Management Company, LLP
JENNIFER L. NETTESHEIM, CFA
Vice President, Global Industry Analyst
Wellington Management Company, LLP
HOW DID THE FUND PERFORM?
The Hartford Global Financial Services Fund Class A shares returned 1.71%,
before sales charge, for the six-month period ended April 30, 2003. The Fund
underperformed its benchmark, the MSCI Finance ex Real Estate Index, which
returned 4.61%, and the Lipper Financial Services Mutual Fund Average, which
returned 4.9% over the period.
WHY DID THE FUND PERFORM THIS WAY?
During the period, financial stocks had positive returns that were stronger than
other broad sectors, as the MSCI Financials sector returned 4.4% versus the 3.9%
return of the MSCI World Index. Relative to the MSCI Finance ex Real Estate
Index, the Fund's stock selection and sector allocation decisions both detracted
from relative performance. In particular, negative stock selection among
insurance holdings was a primary driver of underperformance. For the Fund, the
greatest contributors to absolute return were European commercial banks Royal
Bank of Scotland and Unicredito, while the greatest detractors were Investment
Technology Group and Mitsubishi Tokyo Financial Group.
8
The Hartford Global Health Fund
PERFORMANCE OVERVIEW 5/1/00 - 4/30/03
Growth of a $10,000 investment in Class A which includes Sales Charge (3)
[LINE CHART]
GLOBAL S & P 500 GOLDMAN SACHS
HEALTH INDEX HEALTH CARE
FUND INDEX
$9,450 $10,000 $10,000
$11,503 $9,879 $11,007
$13,112 $9,897 $12,194
$13,168 $9,487 $11,631
$12,980 $8,704 $11,004
$13,599 $8,465 $11,263
$13,264 $7,435 $10,905
$13,765 $7,958 $10,969
$13,705 $7,607 $10,360
$11,756 $6,467 $8,991
$11,485 $6,313 $8,969
$11,499 $6,126 $8,906
$12,211 $6,595 $9,434
AVERAGE ANNUAL TOTAL RETURNS (as of 4/30/03) (2)
Standardized INCEPTION DATE 1 YEAR SINCE INCEPTION
- ------------ -------------- ------ ---------------
Global Health A 5/1/00 -15.80% 6.89%
Global Health B 5/1/00 -15.93% 7.22%
Global Health C 5/1/00 -13.50% 7.74%
Global Health Y 5/1/00 -10.49% 9.58%
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
Please see page 1 for important additional information including inception dates
and expenses.
PORTFOLIO MANAGEMENT TEAM
JOSEPH H. SCHWARTZ, CFA
Senior Vice President, Partner, Portfolio Coordinator,
Global Industry Analyst
Wellington Management Company, LLP
JEAN M. HYNES, CFA
Senior Vice President, Partner, Global Industry Analyst
Wellington Management Company, LLP
ANN C. GALLO
Senior Vice President, Partner
Wellington Management Company, LLP
KIRK J. MAYER, CFA
Vice President, Global Industry Analyst
Wellington Management Company, LLP
HOW DID THE FUND PERFORM?
The Hartford Global Health Fund Class A shares returned 6.32%, before sales
charge, for the six-month period ended April 30, 2003. The Fund outperformed
both the Goldman Sachs Health Care Index, which returned 5.18%, and the Lipper
Health and Biotechnology Mutual Fund Average, which returned 5.0% over the
period.
WHY DID THE FUND PERFORM THIS WAY?
During the period, health care stocks had positive returns but were weaker than
other broad sectors as the MSCI Health Care sector returned 3.3% versus the 3.9%
return of the MSCI World Index. Relative to the Goldman Sachs Health Care Index,
the Fund's stock selection and sector allocation decisions were both additive to
relative performance. In particular, good stock selection among our health care
equipment and services holdings was a primary driver of outperformance. For the
Fund, the greatest contributors to absolute return were Genzyme (biotechnology)
and Wyeth (pharmaceuticals). The greatest detractors were Healthsouth (health
care provider), which was held for an interim time during the period, and
Schering-Plough (pharmaceuticals).
9
The Hartford Global Leaders Fund
PERFORMANCE OVERVIEW 9/30/98 - 4/30/03
Growth of a $10,000 investment in Class A which includes Sales Charge (3)
[LINE CHART]
GLOBAL MSCI
LEADERS WORLD
FUND INDEX
$9,450 $10,000
$10,697 $10,902
$12,932 $12,375
$13,478 $13,037
$14,072 $13,102
$14,697 $13,619
$17,481 $14,264
$18,472 $14,640
$18,135 $14,333
$17,287 $13,783
$16,870 $13,414
$15,370 $12,290
$14,395 $11,604
$12,781 $10,271
$13,487 $10,619
$13,347 $10,627
$11,674 $9,165
$11,167 $8,781
$11,595 $9,122
AVERAGE ANNUAL TOTAL RETURNS (as of 4/30/03) (2)
Standardized INCEPTION DATE 1 YEAR SINCE INCEPTION
- ------------ -------------- ------ ---------------
Global Leaders A 9/30/98 -17.91% 3.29%
Global Leaders B 9/30/98 -18.09% 3.44%
Global Leaders C 9/30/98 -15.49% 3.64%
Global Leaders Y 9/30/98 -12.47% 5.13%
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
Please see page 1 for important additional information including inception dates
and expenses.
PORTFOLIO MANAGER
ANDREW S. OFFIT
Senior Vice President, Partner
Wellington Management Company, LLP
HOW DID THE FUND PERFORM?
The Hartford Global Leaders Fund Class A shares returned 3.84%, before sales
charge, for the six-month period ended April 30, 2003. The Fund slightly
underperformed the MSCI World Index, which returned 3.88%, and outperformed the
Lipper Global Average, which returned 1.8%.
WHY DID THE FUND PERFORM THIS WAY?
Generally international stocks underperformed US stocks, as the MSCI World Index
underperformed the S&P 500 Index return of 4.48% for the six-month period.
Relative to its MSCI World Index benchmark, the Fund benefited from an
overweight position in France, combined with excellent stock selection in that
country. Stock selection was also good in Technology, but this was offset by
poor stock performance in Industrials. Overall, sector allocation detracted
modestly from relative returns, while stock selection, the main focus of the
fund's process, was additive. The three largest contributors to absolute Fund
returns were Nortel Networks (Technology), Alcatel (Technology), and eBay
(Consumer Discretionary). The three greatest detractors from absolute returns
were Nikko Cordial (Financials), Lukoil (Energy), and Tandberg (Technology).
10
THE HARTFORD GLOBAL TECHNOLOGY FUND
PERFORMANCE OVERVIEW 5/1/00 - 4/30/03
Growth of a $10,000 investment in Class A which includes Sales Charge (3)
[LINE GRAPH]
GLOBAL GOLDMAN SACHS
TECHNOLOGY TECHNOLOGY S & P 500
FUND COMPOSITE INDEX INDEX
---------- --------------- ---------
$9,450 $10,000 $10,000
$9,180 $ 9,400 $ 9,879
$8,102 $ 8,230 $ 9,897
$6,868 $ 6,754 $ 9,487
$5,479 $ 5,006 $ 8,704
$4,954 $ 4,476 $ 8,465
$3,762 $ 3,605 $ 7,435
$4,541 $ 4,140 $ 7,958
$3,763 $ 3,372 $ 7,607
$2,862 $ 2,496 $ 6,467
$2,796 $ 2,466 $ 6,313
$2,871 $ 2,448 $ 6,127
$3,162 $ 2,714 $ 6,595
AVERAGE ANNUAL TOTAL RETURNS (as of 4/30/03) (2)
Standardized INCEPTION DATE 1 YEAR SINCE INCEPTION
- ------------ -------------- ------ ---------------
Global Tech A 5/1/00 -20.52% -31.87%
Global Tech B 5/1/00 -20.87% -31.82%
Global Tech C 5/1/00 -18.54% -31.35%
Global Tech Y 5/1/00 -15.80% -30.30%
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
Please see page 1 for important additional information including inception dates
and expenses.
PORTFOLIO MANAGEMENT TEAM
SCOTT E. SIMPSON
Senior Vice President, Partner, Portfolio
Coordinator, Global Industry Analyst
Wellington Management Company, LLP
ERIC STROMQUIST
Senior Vice President, Partner,
Global Industry Analyst
Wellington Management Company, LLP
ANITA M. KILLIAN, CFA
Vice President, Global Industry Analyst
Wellington Management Company, LLP
JOHN F. AVERILL, CFA
Senior Vice President, Partner,
Global Industry Analyst
Wellington Management Company, LLP
BRUCE L. GLAZER
Vice President, Global Industry Analyst
Wellington Management Company, LLP
HOW DID THE FUND PERFORM?
The Hartford Global Technology Fund Class A shares returned 13.09%, before sales
charge, for the six-month period ended April 30, 2003. The Fund outperformed
both the Goldman Sachs Technology Composite Index, which returned 10.06%, and
the Lipper Science and Technology Mutual Fund Average, which returned 10.4% over
the period.
WHY DID THE FUND PERFORM THIS WAY?
During the period, technology stocks had positive returns that were
significantly stronger than other broad sectors, as the MSCI Information
Technology sector returned 7.4% versus the 3.9% return of the MSCI World Index.
Relative to the Goldman Sachs Technology Composite Index, the Fund's stock
selection was additive to relative performance. In particular, good stock
selection among our technology hardware and equipment holdings was a primary
driver of outperformance. For the Fund, the greatest contributors to absolute
return were Cisco Systems (Technology Hardware) and Maxtor (Hardware), while the
greatest detractors were AOL Time Warner (Media) and Microsoft (Software).
11
THE HARTFORD GROWTH AND INCOME FUND
(On August 1, 2003 the Fund's name will change to The Hartford Disciplined
Equity Fund)
PERFORMANCE OVERVIEW 4/30/98 - 4/30/03
Growth of a $10,000 investment in Class A which includes Sales Charge (3)
[LINE GRAPH]
GROWTH AND S&P 500
INCOME FUND INDEX
----------- -----
$ 9,450 $10,000
$ 9,591 $10,119
$ 9,625 $ 9,959
$11,197 $11,638
$11,652 $12,181
$11,889 $12,162
$11,861 $12,515
$12,359 $12,841
$13,104 $13,414
$13,143 $13,252
$13,124 $13,276
$12,855 $12,727
$12,073 $11,676
$11,663 $11,356
$10,380 $ 9,974
$10,952 $10,676
$10,251 $10,205
$ 8,657 $ 8,675
$ 8,447 $ 8,468
$ 8,659 $ 8,848
AVERAGE ANNUAL TOTAL RETURNS (as of 4/30/03) (1, 2)
Standardized INCEPTION DATE 1 YEAR 5 YEAR SINCE INCEPTION
- ------------ -------------- ------ ------ ---------------
Growth & Inc A 4/30/98 -20.22% -2.84% -2.84%
Growth & Inc B 4/30/98 -20.37% -2.81% -2.81%
Growth & Inc C 4/30/98 -18.00% -2.62% -2.62%
Growth & Inc Y 4/30/98 -15.13% -1.24% -1.24%
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
Please see page 1 for important additional information including inception dates
and expenses.
PORTFOLIO MANAGER
JAMES A. RULLO, CFA
Senior Vice President, Partner
Wellington Management Company, LLP
HOW DID THE FUND PERFORM?
The Hartford Growth and Income Fund Class A shares returned 2.49%, before sales
charge, for the six-month period ended April 30, 2002, underperforming its
benchmark and peer group. The S&P 500 Index returned 4.48% and the Lipper
Large-Cap Core Mutual Fund Average returned 3.0% during the period.
WHY DID THE FUND PERFORM THIS WAY?
The Fund's underperformance for the six-month period ended April 30, 2003 was
largely due to poor security selection as sector allocation in aggregate had a
positive impact on relative returns. Stock picking was weakest among Consumer
Staples and Information Technology names and strongest within the Energy sector.
The top three contributors to absolute performance were Cisco Systems
(Information Technology), Capital One (Financials), and Genzyme Corp. (Health
Care). The top three detractors for the period were AIG (Financials), Pepsi
Bottling Group (Consumer Staples), and Schering-Plough (Health Care).
12
THE HARTFORD GROWTH FUND
PERFORMANCE OVERVIEW 10/31/92 - 4/30/03
Growth of a $10,000 investment in Class A which includes Sales Charge (4, 6)
[LINE GRAPH]
GROWTH RUSSELL 1000
FUND GROWTH INDEX
---- ------------
$ 9,445 $10,000
$10,230 $10,730
$10,991 $11,311
$12,781 $14,619
$14,716 $17,840
$18,442 $23,274
$20,734 $29,007
$26,715 $38,942
$31,992 $42,574
$23,864 $25,570
$19,962 $20,554
$21,485 $19,573
AVERAGE ANNUAL TOTAL RETURNS (as of 4/30/03) (4,5)
INCEPTION SINCE
Standardized DATE 1 YEAR 5 YEAR 10 YEAR INCEPTION
- ------------ ---- ------ ------ ------- ---------
Growth A 6/8/49 -14.34% -1.13% 8.06% 10.87%
Growth B 11/14/94 -14.44% -0.90% N/A 7.51%
Growth C 11/14/94 -11.77% -1.12% N/A 7.38%
Growth H 11/14/94 -13.46% -0.89% N/A 7.53%
Growth L 6/8/49 -13.44% -0.93% 8.18% 10.91%
Growth M 11/14/94 -13.40% -0.88% N/A 7.52%
Growth N 11/14/94 -10.69% -0.69% N/A 7.52%
Growth Y 2/19/02 -8.90% N/A N/A -12.00%
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
Please see page 1 for important additional information including inception dates
and expenses.
PORTFOLIO MANAGER
ANDREW J. SHILLING, CFA
Senior Vice President, Partner
Wellington Management Company, LLP
HOW DID THE FUND PERFORM?
The Hartford Growth Fund Class A shares returned 6.89%, before sales charge, for
the six-months ended April 30, 2003, outperforming both the Russell 1000 Growth
Index 4.27%, and the Lipper Large Cap Growth Mutual Fund Average 2.8%.
WHY DID THE FUND PERFORM THIS WAY?
The Fund's out-performance during the period was primarily due to stock
selection, which added value in Financials, Health Care and Consumer
Discretionary, but detracted in Technology and Industrials. With respect to
sector allocation, the Fund's underweight position in Consumer Staples added to
performance. During the period, we reduced the portfolio's exposure to the
Consumer Staples sector through the sale of CVS. We continue to see
opportunities in the Consumer Discretionary sector and added to our existing
holdings and also initiated a position in USA Interactive. These additions were
partially funded by sales of both Liberty Media and Lowe's Companies. We also
increased our weighting slightly in Financials through the addition of ACE
Limited, partially funded by eliminating our position in Merrill Lynch.
13
THE HARTFORD GROWTH OPPORTUNITIES FUND
PERFORMANCE OVERVIEW 10/31/92 - 4/30/03
Growth of a $10,000 investment in Class A which includes Sales Charge (4,6)
[LINE GRAPH]
GROWTH
OPPORTUNITIES RUSSELL 3000
FUND GROWTH INDEX
---- ------------
$ 9,450 $10,000
$11,374 $10,874
$10,542 $11,399
$13,244 $14,629
$15,145 $17,721
$17,680 $22,974
$17,728 $27,662
$23,662 $37,040
$36,582 $40,671
$21,893 $24,670
$17,631 $19,801
$18,930 $20,534
AVERAGE ANNUAL TOTAL RETURNS (as of 4/30/03) (4,5)
INCEPTION SINCE
Standardized DATE 1 YEAR 5 YEAR 10 YEAR INCEPTION
- ------------ ---- ------ ------ ------- ---------
Growth Opp A 3/31/63 -20.68% -1.36% 6.59% 12.20%
Growth Opp B 11/14/94 -20.80% -1.12% N/A 6.92%
Growth Opp C 11/14/94 -18.46% -1.36% N/A 6.79%
Growth Opp H 11/14/94 -19.79% -1.08% N/A 6.95%
Growth Opp L 3/31/63 -19.84% -1.13% 6.71% 12.22%
Growth Opp M 11/14/94 -19.80% -1.08% N/A 6.94%
Growth Opp N 11/14/94 -17.30% -0.91% N/A 6.94%
Growth Opp Y 2/19/02 -15.72% N/A N/A -13.78%
Growth Opp Z 3/1/96 -15.40% 0.20% N/A 5.53%
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
Please see page 1 for important additional information including inception dates
and expenses.
PORTFOLIO MANAGER
MICHAEL T. CARMEN, CFA
Senior Vice President, Partner
Wellington Management Company, LLP
HOW DID THE FUND PERFORM?
The Hartford Growth Opportunities Fund Class A shares returned 10.45%, before
sales charge, for the six-month period ended April 30, 2003. The Fund's return
exceeded the 4.48% return of the Russell 3000 Growth Index and the 4.4% return
of the Lipper Multi-Cap Growth MF Average for the same period.
WHY DID THE FUND PERFORM THIS WAY?
During the period, the Russell 3000 Value Index modestly outpaced the Russell
3000 Growth Index as large caps trailed smaller cap stocks. The majority of
Fund's outperformance was generated by accurate security selection, as sector
allocation made a mild positive contribution to the Fund's return relative to
the Index. Stock picking was strongest among Health Care, Financials, and
Consumer Discretionary names. Information Technology was the only sector in
which stock selection was a material detractor from relative return. The top
three contributors to the portfolio's absolute performance were St. Jude Medical
(Health Care), Career Education Corp. (Industrials) and Cendant Corporation
(Industrials), while the top three detractors for the period were NDC Health
Corp. (Health Care), Cephalon (Health Care), and Nokia (Information Technology).
14
THE HARTFORD HIGH YIELD FUND
PERFORMANCE OVERVIEW 9/30/98 - 4/30/03
Growth of a $10,000 investment in Class A which includes Sales Charge (3)
[LINE GRAPH]
LEHMAN BROTHERS
HIGH YIELD CORPORATE HIGH
FUND YIELD INDEX
---- -----------
$ 9,450 $10,000
$ 9,529 $ 9,795
$10,017 $10,364
$10,326 $10,603
$10,103 $10,408
$10,040 $10,222
$10,120 $10,413
$10,049 $10,230
$10,280 $10,410
$10,175 $10,057
$10,957 $10,583
$10,624 $10,341
$10,497 $10,382
$10,358 $10,040
$10,464 $10,437
$10,314 $10,703
$ 9,193 $ 9,432
$ 9,097 $ 9,490
$10,921 $11,648
AVERAGE ANNUAL TOTAL RETURNS (as of 4/30/03) (2)
Standardized INCEPTION DATE 1 YEAR SINCE INCEPTION
- ------------ -------------- ------ ---------------
High Yield A 9/30/98 1.12% 1.95%
High Yield B 9/30/98 0.38% 1.94%
High Yield C 9/30/98 3.13% 2.06%
High Yield Y 9/30/98 8.20% 3.38%
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
Please see page 1 for important additional information including inception dates
and expenses.
PORTFOLIO MANAGERS
DAVID HILLMEYER, CFA
Vice President
Hartford Investment Management Company
CHRISTINE MOZONSKI, CFA
Vice President
Hartford Investment Management Company
HOW DID THE FUND PERFORM?
The Hartford High Yield Fund Class A shares placed in the 2nd quartile of its
Lipper peer group for the six months ended April 30, 2003, producing a total
return of 20.05%, before sales charge, versus a return of 22.75% for the Lehman
Brothers Corporate High Yield Index and a 18.41% average return for the Lipper
High Current Yield Funds Universe.
WHY DID THE FUND PERFORM THIS WAY?
The high yield sector posted tremendous returns over the last six months as we
experienced improvement in fundamentals and demand and prices responded
favorably to corporate de-leveraging. CCC-rated issuers significantly
outperformed BB-rated securities as investors continued to reach for yield. The
utility and technology sectors led returns, while the consumer-related sectors,
such as gaming, lodging and automotive, underperformed the broader market as
war-related uncertainty had caused many issuers to revise earnings guidance
lower.
The Fund benefited from exposure to the technology and wireline sectors
as they were major providers of return, supplemented by the underweight position
in the gaming and textile sectors. Security selection in Lucent, Nortel Networks
and Mission Energy also helped drive fund performance. Our underweight to the
electric utilities and pipeline sectors however, caused a drag on fund
performance.
While the market continues to struggle with questionable accounting practices,
excess capacity and limited pricing power, we see strong fundamentals as firms
continue to focus on balance sheet repair, resulting in improved credit metrics
and greater stability in ratings. Therefore, our theme remains to hold greater
allocations to credits that exhibit those improved characteristics, such as the
telecommunications sector, as we believe that the financial repair taking place
within the credit markets will reward investors.
15
THE HARTFORD INCOME FUND
PERFORMANCE OVERVIEW 10/31/02 - 4/30/03
Growth of a $10,000 investment in Class A which includes Sales Charge (3)
[LINE GRAPH]
LEHMAN BROTHERS
INCOME U.S. AGGREGATE
FUND BOND INDEX
------ ----------------
$ 9,550 $10,000
$ 9,662 $ 9,997
$ 9,819 $10,204
$ 9,883 $10,213
$10,044 $10,354
$10,098 $10,346
$10,313 $10,432
CUMULATIVE TOTAL RETURNS (as of 4/30/03)(2)
Standardized INCEPTION DATE SINCE INCEPTION
- ------------ -------------- ---------------
Income A 10/31/02 3.15%
Income B 10/31/02 2.62%
Income C 10/31/02 6.56%
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
Please see page 1 for important additional information including inception dates
and expenses.
CHRISTINE MOZONSKI, CFA
Vice President
Hartford Investment Management Company
WILLIAM DAVISON, CFA
Managing Director
Hartford Investment Management Company
HOW DID THE FUND PERFORM?
The Hartford Income Fund Class A shares placed in the 2nd quartile of its Lipper
peer group for the six months ended April 30, 2003, producing a total return of
8.00%, before sales charge, versus a return of 4.32% for the Lehman Brothers
U.S. Aggregate Bond Index and the 8.10% average return of the Lipper BBB-Rated
Corporate Debt Funds Universe.
WHY DID THE FUND PERFORM THIS WAY?
Market sentiment for most of the year was that the war in Iraq was the
significant constraint on the economy and that growth would accelerate once
fighting concluded. The war was indeed a constraining force on economic activity
through higher oil prices and as a negative factor on consumer sentiment. The
credit markets continue to have an extremely positive tone in the face of weak
economic data and the backdrop of war. The market has been further encouraged by
recent events surrounding several issuers that have solved their liquidity
problems. Non-credit sectors also continue to provide yield opportunities for
the Fund. In addition, we are selectively adding to our asset-backed and
commercial mortgage-backed exposures as opportunities arise.
The Fund's overweight to high yield bonds contributed positively to performance.
Corporate credit prices continued to improve during the month as the market
started to expect an economic recovery. We continue to believe that the balance
sheet repair taking place in the credit markets will benefit bond prices of such
issuers. Additionally, operating leverage as a result of strong cost cutting
will meaningfully help profitability in an economic recovery.
The Fund benefited from an overweight to the industrial sector and security
selection in Treasury Inflation Protected Securities as they were major
providers of income. Income from inflation accruals were strong for the first
few months of the year as we entered the "seasonal" period of higher inflation
accruals.
16
THE HARTFORD INFLATION PLUS FUND
PERFORMANCE OVERVIEW 10/31/02 - 4/30/03
Growth of a $10,000 investment in Class A which includes Sales Charge (3)
[LINE GRAPH]
INFLATION LEHMAN BROTHERS
PLUS FUND U.S. TIPS INDEX
--------- ---------------
$ 9,550 $10,000
$ 9,527 $ 9,993
$ 9,841 $10,329
$ 9,889 $10,406
$10,244 $10,796
$10,082 $10,622
$10,036 $10,594
CUMULATIVE TOTAL RETURNS (as of 4/30/03)(2)
Standardized INCEPTION DATE SINCE INCEPTION
- ------------ -------------- ---------------
Inflation A 10/31/02 0.38%
Inflation B 10/31/02 -0.23%
Inflation C 10/31/02 1.62%
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
Please see page 1 for important additional information including inception dates
and expenses.
PORTFOLIO MANAGERS
JIM CONNOLLY, CFA
Vice President
Hartford Investment Management Company
WILLIAM DAVISON, CFA
Managing Director
Hartford Investment Management Company
HOW DID THE FUND PERFORM?
The Hartford Inflation Plus Fund Class A shares placed in the 3rd quartile of
its Lipper peer group for the six months ended April 30, 2003, producing a total
return of 5.10%, before sales charge, versus a return of 5.94% for the Lehman
Brothers U.S. TIPS Index and the 4.76% return of the Lipper Intermediate US
Treasury Funds Universe.
WHY DID THE FUND PERFORM THIS WAY?
Markets moved emotionally in tandem with US progress in Iraq rather than on
fundamental economic data for the majority of this year. Treasuries rallied in
the first couple of months this year but as the war in Iraq came to an end, TIPS
experienced negative returns in March and April as investors sold off, reversing
the flight to quality. The net effect is that the economy is seeing relatively
low real yields of about 0.90% - 2.70%.
With real yields at such low levels, further price performance from a drop in
real yields could be limited. Income from inflation accruals was strong for the
first few months of the year as we entered the "seasonal" period of higher
inflation accruals. We took advantage of this by focusing on securities that
offered both the best risk/reward tradeoff on a relative value basis and those
which provided the best benefit from higher expected accruals.
As the Fund continued its strong growth in assets up to $199 million as of
4/30/03, we were able to allocate across the entire US Treasury Inflation
Protected Securities market making modest tactical changes vis-a-vis these
allocations to take advantage of market opportunities. Throughout this year, the
portfolio was underweight the short maturing TIPS, overweight the intermediate
maturities and underweight the long end of the curve.
The Fund is currently 97% invested in US Treasury Inflation Protected Securities
with the remainder of the portfolio allocated to floating rate securities and
cash. We started adding floating rate securities a couple of months into the
Fund's inception because we saw value in its diversification benefits as well as
its similar resetting behavior to TIPS. While this allocation benefited the Fund
in April as they provided a positive return, overall, our underweight to TIPS
versus the index hurt the Fund over the past six months as floating rate
securities underperformed TIPS.
17
THE HARTFORD INTERNATIONAL CAPITAL APPRECIATION FUND
PERFORMANCE OVERVIEW 4/30/01 - 4/30/03
Growth of a $10,000 investment in Class A which includes Sales Charge(3)
[LINE GRAPH]
INTERNATIONAL MSCI
CAP APP FUND EAFE
------------ ----
$9,450 $10,000
$8,297 $ 9,096
$7,201 $ 8,175
$7,703 $ 8,076
$8,081 $ 8,639
$7,004 $ 7,582
$6,551 $ 7,120
$6,577 $ 6,894
$6,993 $ 7,265
AVERAGE ANNUAL TOTAL RETURNS (as of 4/30/03)(2)
Standardized INCEPTION DATE 1 YEAR SINCE INCEPTION
- ------------ -------------- ------ ---------------
Int'l Cap App A 4/30/01 -18.26% -16.38%
Int'l Cap App B 4/30/01 -18.32% -16.29%
Int'l Cap App C 4/30/01 -15.98% -14.98%
Int'l Cap App Y 4/30/01 -13.04% -13.57%
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
Please see page 1 for important additional information including inception dates
and expenses.
PORTFOLIO MANAGER
ANDREW S. OFFIT
Senior Vice President, Partner
Wellington Management Company, LLP
HOW DID THE FUND PERFORM?
The Hartford International Capital Appreciation Fund Class A shares returned
6.74%, before sales charge, for the six-month period ended April 30, 2003.
During this period the Fund outperformed both the MSCI EAFE Index, which
returned 2.04%, and the 0.9% average return of its Lipper International Average
peer group.
WHY DID THE FUND PERFORM THIS WAY?
Generally international stocks underperformed US stocks, as the MSCI EAFE Index
underperformed the S&P 500 Index return of 4.48% for the six-month period.
Relative to its MSCI EAFE benchmark, the Fund benefited from an overweight
position in France, combined with good stock selection in that country. Returns
were also aided by excellent stock selection in Technology, Telecommunications,
and Consumer Staples, which was somewhat offset by poor stock performance in the
Industrials sector. Overall, stock selection, which is the main focus of the
fund's process, was very additive to returns, while sector allocation decisions
were modestly negative. The three largest contributors to absolute returns were
all from the Technology sector: Nortel Networks, Alcatel, and Yahoo Japan. The
three largest detractors were Tandberg, Nikko Cordial (Financials), and Fast
Retailing (Consumer Discretionary).
18
THE HARTFORD INTERNATIONAL OPPORTUNITIES FUND
PERFORMANCE OVERVIEW 7/22/96 - 4/30/03
Growth of a $10,000 investment in Class A which includes Sales Charge(3)
[LINE GRAPH]
MSCI AC
INTERNATIONAL WORLD FREE
OPPORTUNITIES EX US INDEX
------------- -----------
$ 9,450 $10,000
$ 9,686 $ 9,878
$10,114 $10,045
$10,115 $10,293
$11,487 $11,737
$10,483 $10,747
$10,451 $11,433
$11,864 $12,950
$12,059 $13,439
$10,675 $12,616
$11,936 $13,829
$12,745 $14,676
$13,103 $15,061
$13,630 $15,960
$15,273 $17,143
$15,378 $17,190
$14,873 $16,666
$13,687 $15,618
$13,708 $15,508
$12,617 $14,441
$11,517 $13,120
$10,283 $11,625
$10,548 $11,332
$11,021 $12,243
$ 9,512 $10,805
$ 8,851 $ 9,949
$ 9,180 $ 8,718
AVERAGE ANNUAL TOTAL RETURNS (as of 4/30/03)(1, 2)
INCEPTION
Standardized DATE 1 YEAR 5 YEAR SINCE INCEPTION
- ------------ ---- ------ ------ ---------------
Int'l Opp A 7/22/96 -25.24% -7.04% -2.00%
Int'l Opp B 7/22/96 -25.28% -6.97% -1.87%
Int'l Opp C 7/22/96 -23.25% -6.88% -2.05%
Int'l Opp Y 7/22/96 -20.59% -5.57% -0.75%
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
Please see page 1 for important additional information including inception dates
and expenses.
PORTFOLIO MANAGER
TROND SKRAMSTAD
Senior Vice President, Partner, Director of Global Equity Strategies
Wellington Management Company, LLP
HOW DID THE FUND PERFORM?
The Hartford International Opportunities Fund Class A shares returned -1.49%,
before sales charge, for the six-month period ended April 30, 2003. The Fund's
return trailed both the 3.08% return for the MSCI All-Country World Free ex US
Index, and the Lipper International Average of 0.93%.
WHY DID THE FUND PERFORM THIS WAY?
During the period, many global equity markets posted positive returns. Europe as
measured by the MSCI Europe Index was up 4.4% (USD) and the MSCI Emerging
Markets Free Index rose 5.9% (USD). Japan continued to struggle with the MSCI
Japan Index returning -7.2% (USD) for the period.
Relative to its benchmark, overall stock selection on the country level
detracted from performance driven largely by weakness in Continental Europe and
Japan. This weakness was slightly mitigated by our stock selection in the United
Kingdom. Our underweights in the United Kingdom and Japan contributed positively
to performance. Relative to its benchmark, stock selection and allocation on the
sector level detracted from Fund performance. Stock selection was strongest in
Consumer Staples, Consumer Discretionary, and Financials. Stock selection was
weakest among Utilities, Industrials, and Materials. The three biggest
contributors to performance were the United Kingdom's Vodafone Group
(Telecommunication Services), AstraZeneca (Health Care), and Royal Bank of
Scotland (Financials). The three biggest detractors from performance were
Korea's SK Telecom (Telecommunication Services), United Kingdom's BAE Systems
(Industrials), and Sweden's Ericsson (Information Technology).
19
THE HARTFORD INTERNATIONAL SMALL COMPANY FUND
PERFORMANCE OVERVIEW 4/30/01 - 4/30/03
Growth of a $10,000 investment in Class A which includes Sales Charge (3)
[LINE GRAPH]
CITIGROUP BROAD
MARKET INTERNATIONAL
EURO-PACIFIC<$2b INDEX SMALL CO FUND
------------ --------
$9,450 $10,000
$9,044 $ 9,365
$8,335 $ 8,554
$8,580 $ 8,585
$9,346 $ 9,565
$8,920 $ 9,000
$7,909 $ 8,117
$8,223 $ 8,142
$8,834 $ 9,098
AVERAGE ANNUAL TOTAL RETURNS (as of 4/30/03)(2)
INCEPTION
Standardized DATE 1 YEAR SINCE INCEPTION
- ------------ ---- ------ ---------------
Int'l Small Co A 4/30/01 -8.05% -4.61%
Int'l Small Co B 4/30/01 -7.80% -4.20%
Int'l Small Co C 4/30/01 -5.23% -3.02%
Int'l Small Co Y 4/30/01 -2.08% -1.39%
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
Please see page 1 for important additional information including inception dates
and expenses.
PORTFOLIO MANAGER
EDWARD L. MAKIN
Vice President
Wellington Management Company, LLP
HOW DID THE FUND PERFORM?
The Hartford International Small Company Fund Class A shares returned 15.02%,
before sales charge, for the six-month period ended April 30, 2003. The Fund's
return exceeded the 8.82% return for the Citigroup Broad Market Euro-Pacific <$2
billion Index, and outperformed the Lipper International Small-Cap Average of
6.08%.
WHY DID THE FUND PERFORM THIS WAY?
The world has been fixated on the US-led war against Saddam Hussein in Iraq
since it started in mid-March. In anticipation of the war, many companies held
back on their capital expenditure plans, while consumers have been impacted by a
mixture of high leverage, depressed economic conditions, very bad weather in the
Northern Hemisphere, employment uncertainty and political tensions worldwide. As
a result, consumer spending has been depressed and will hurt Q1 and Q2 results
for many companies.
Relative to its benchmark, the Fund's most successful contributions to
performance came from stock selection in Information Technology, Consumer
Discretionary, and Consumer Staples. During the period, strong stock selection
accounted for nearly all of the Fund's positive return over the benchmark.
Certain names across a variety of industries generated positive returns
including France's Clarins (Consumer Staples), Spain's TPI (Consumer
Discretionary), and Sweden's Eniro (Consumer Discretionary). Fund results were
somewhat inhibited by disappointing results from select names including, Japan's
BML (Health Care), NIC (Health Care), and Tsuruha (Consumer Staples).
20
THE HARTFORD MIDCAP FUND*
PERFORMANCE OVERVIEW 12/31/97 - 4/30/03
Growth of a $10,000 investment in Class A which includes Sales Charge (3)
[LINE GRAPH]
S & P
MIDCAP MIDCAP
FUND 400 INDEX
---- ---------
$ 9,450 $10,000
$ 9,138 $ 9,883
$10,669 $11,389
$10,669 $10,520
$ 9,867 $10,198
$11,909 $11,533
$13,280 $12,120
$13,955 $12,552
$14,239 $12,349
$17,412 $13,379
$20,082 $14,975
$21,103 $15,240
$22,780 $16,256
$22,107 $16,539
$20,871 $16,026
$20,680 $16,090
$18,464 $14,230
$20,403 $15,996
$21,383 $17,080
$18,041 $14,054
$17,275 $13,550
$18,813 $14,089
AVERAGE ANNUAL TOTAL RETURNS (as of 4/30/03)(1, 2)
Standardized INCEPTION DATE 1 YEAR SINCE INCEPTION
- ------------ -------------- ------ ---------------
MidCap A 12/31/97 -16.89% 12.59%
MidCap B 12/31/97 -17.04% 12.87%
MidCap C 12/31/97 -14.48% 12.81%
MidCap Y 12/31/97 -11.58% 14.32%
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
Please see page 1 for important additional information including inception dates
and expenses.
*The Hartford Midcap Fund will be closed to new investors as of the end of the
day July 31,2003. Investors who already own shares of the Fund, and those with
access to the Fund through wrap programs in connection with certain investment
platforms, may purchase additional shares thereafter.
PORTFOLIO MANAGER
PHILLIP H. PERELMUTER, CFA
Senior Vice President, Partner
Wellington Management Company, LLP
HOW DID THE FUND PERFORM?
The Hartford MidCap Fund Class A shares returned 8.90%, before sales charge, for
the six-month period ended April 30, 2003, outperforming both the S&P MidCap 400
Index of 3.98% and Lipper Mid-Cap Core Mutual Fund Average 4.90%.
WHY DID THE FUND PERFORM THIS WAY?
During the last six months, the equity markets have started to turn with most
major indices posting positive returns. During the period, mid-cap stocks
under-performed both small-cap stocks, as measured by the Russell 2000 Index,
and large cap stocks, as measured by the S&P500 Index. The Fund's Index
out-performance versus its benchmark can be traced largely to positive stock
selection across most industries - Telecommunications, Health Care and
Technology as the largest contributors. The Fund's underweight position in
Financials helped performance while the Fund's overweight position in Materials
detracted. Three contributors during this period were American Tower
(Telecommunications), Countrywide Financials (Bank) and Millennium
Pharmaceuticals (Biotechnology).
21
THE HARTFORD MIDCAP VALUE FUND
PERFORMANCE OVERVIEW 4/30/01 - 4/30/03
Growth of a $10,000 investment in Class A which includes Sales Charge(3)
[LINE GRAPH]
Russell
Midcap 2500
Value Value
Fund Index
$ 9,450 $10,000
$ 9,375 $10,336
$ 8,015 $ 9,305
$ 9,422 $10,689
$10,123 $11,689
$ 8,431 $ 9,808
$ 7,883 $ 9,184
$ 7,940 $ 9,258
$ 8,431 $ 9,914
AVERAGE ANNUAL TOTAL RETURNS (as of 4/30/03)(2)
Standardized INCEPTION DATE 1 YEAR SINCE INCEPTION
- ------------ -------------- ------ ---------------
MidCap Value A 4/30/01 -21.27% -8.18%
MidCap Value B 4/30/01 -21.43% -8.09%
MidCap Value C 4/30/01 -19.12% -6.66%
MidCap Value Y 4/30/01 -16.36% -5.13%
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
Please see page 1 for important additional information including inception dates
and expenses.
PORTFOLIO MANAGER
JAMES N. MORDY
Senior Vice President, Partner
Wellington Management Company, LLP
HOW DID THE FUND PERFORM?
The Hartford MidCap Value Fund Class A shares returned 6.95%, before sales
charge, for the six-month period ended April 30, 2003. The Fund's return trailed
the 7.95% return for the Russell 2500 Value Index, but outperformed the Lipper
MidCap Value MF Average of 6.6%.
WHY DID THE FUND PERFORM THIS WAY?
During the period, mid-cap stocks outperformed all other broad US market
indices, for instance the Fund's Russell 2500 Value Index returned 6.95% while
the S&P 500 Index returned 4.48%. The Fund underperformed the market benchmark
primarily due to stock selection in Financials and Technology, however, strong
stock selection in Consumer Discretionary helped offset benchmark-relative
weakness. The Fund's top three contributors to absolute returns were Devon
Energy (Energy), Rent-A-Center (Consumer Discretionary) and Harman International
(Consumer Discretionary). The three greatest detractors from absolute returns
were Ocean Energy (Energy), Reader's Digest (Consumer Discretionary) and Black &
Decker (Consumer Discretionary).
22
THE HARTFORD SHORT DURATION FUND
PERFORMANCE OVERVIEW 10/31/02 - 4/30/03
Growth of a $10,000 investment in Class A which includes Sales Charge(3)
[LINE GRAPH]
Lehman
Short Brothers U.S.
Duration Government/Credit
Fund 1-5 Year Index
$ 9,700 $10,000
$ 9,526 $ 9,987
$ 9,677 $10,145
$ 9,690 $10,151
$ 9,791 $10,244
$ 9,809 $10,263
$10,023 $10,312
CUMULATIVE TOTAL RETURNS (as of 4/30/03)(2)
Standardized INCEPTION DATE SINCE INCEPTION
- ------------ -------------- ---------------
Short Duration A 10/31/02 0.22%
Short Duration B 10/31/02 -2.01%
Short Duration C 10/31/02 1.97%
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
Please see page 1 for important additional information including inception dates
and expenses.
PORTFOLIO MANAGER
JIM CONNOLLY, CFA
Vice President
Hartford Investment Management Company
HOW DID THE FUND PERFORM?
The Hartford Short Duration Fund Class A shares placed in the 3rd quartile of
its Lipper peer group for the six months ended April 30, 2003, producing a total
return of 3.33%, before sales charge, versus a return of 3.12% for the Lehman
Brothers U.S. Government/Credit 1-5 year Index and the 3.88% average return of
the Lipper Short Intermediate Investment Grade Debt Funds.
WHY DID THE FUND PERFORM THIS WAY?
During the last two months of 2002, U.S. Treasury rates in the 2 to 5 year
maturities remained mostly unchanged despite the Fed lowering the Fed Funds rate
by 50 basis points. Early into this year, interest rates on U.S. Treasuries
fluctuated during the quarter in response to shifting sentiments about the
economy and the war, but closed in March with little change from year-end
levels. The Fed left interest rates unchanged at 1.25% during their March
meeting, citing "geopolitical uncertainties" as being the driving force behind
the current market environment.
Economic data released throughout March and April remained weak though the
conflict in Iraq was the dominant driver of market price action with investors
reacting greatly to headline risk. As all markets were largely event-driven, the
market experienced increased short-term volatility.
Our primary goal in managing this income-driven fund has been to look for
opportunities to enhance the yield by selectively adding to our investment-grade
corporate, asset-backed, mortgage-backed and commercial mortgage-backed
positions. The demand for investment grade corporates remains strong as
fundamentals continue to show signs of improvement. Narrowing credit spreads
reflected growing investor optimism that corporations have taken the steps
needed to reduce leverage and improve debt service coverage. The general trend
of prices tightening resulted in all sub-sectors outperforming Treasuries on a
duration neutral basis.
Since we launched this Fund, the corresponding Lehman Brothers U.S.
Government/Credit 1-5 year Index benchmark earned a total return of 3.12%. The
Fund's strong outperformance versus the index can be attributed to our
overweight in the corporate sector, particularly in the industrial and financial
subsectors, as they continue to perform well on both a yield and total return
perspective while interest rates remained relatively stable. Our allocation to
Treasury Inflation Protected Securities early this year has also benefited the
Fund as we capitalized on the strong inflation accrual levels throughout this
year.
23
THE HARTFORD SMALL COMPANY FUND
PERFORMANCE OVERVIEW 7/22/96 - 4/30/03
Growth of a $10,000 investment in Class A which includes Sales Charge(3)
[LINE GRAPH]
Russell
Small 2000
Company Growth
Fund Index
$ 9,450 $10,000
$10,612 $ 9,487
$10,602 $ 9,574
$11,866 $10,460
$13,259 $11,494
$13,793 $12,056
$14,027 $11,839
$11,997 $ 9,673
$13,365 $10,791
$17,250 $12,824
$17,922 $12,506
$26,856 $19,862
$24,391 $16,463
$21,722 $14,525
$17,379 $11,766
$18,079 $12,620
$14,911 $ 9,948
$16,139 $10,328
$15,107 $ 9,464
$12,337 $ 7,803
$11,393 $ 7,560
$13,045 $ 8,400
AVERAGE ANNUAL TOTAL RETURNS (as of 4/30/03)(1),(2)
Standardized INCEPTION DATE 1 YEAR 5 YEAR SINCE INCEPTION
- ------------ -------------- ------ ------ ---------------
Small Co A 7/22/96 -26.98% -3.23% 4.01%
Small Co B 7/22/96 -27.14% -3.15% 4.16%
Small Co C 7/22/96 -25.06% -2.97% 4.03%
Small Co Y 7/22/96 -22.40% -1.66% 5.38%
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
Please see page 1 for important additional information including inception dates
and expenses.
PORTFOLIO MANAGER
STEVEN C. ANGELI, CFA
Senior Vice President, Partner
Wellington Management Company, LLP
HOW DID THE FUND PERFORM?
The Hartford Small Company Class A shares returned 5.74%, before sales charge,
for the six-month period ended April 30, 2003. The Fund underperformed its
market benchmark, the Russell 2000 Growth Index, which returned 7.65%. However,
it outperformed the Lipper Small Cap Growth Mutual Fund Average, which returned
4.6% for the period.
WHY DID THE FUND PERFORM THIS WAY?
During the period, small-cap stocks outperformed large-cap stocks, as the
Russell 2000 Index returned 7.55%, while the S&P 500 Index returned 4.48%.
Within small cap stocks, growth modestly outperformed value, with the Russell
2000 Growth Index returning 7.65 % and the Russell 2000 Value returning 7.40%.
Relative to its Russell 2000 Growth Index, the Fund benefited from good stock
selection in the Consumer Discretionary sector. However, this was more than
offset by poor stock performance in the Health Care and Technology sectors.
Overall, both sector allocation and stock selection decisions detracted from
performance. The three greatest contributors to absolute returns were American
Tower (Telecommunications), Western Digital (Technology), and eResearch
Technology (Health Care). The three greatest detractors were Array Biopharma
(Health Care), J Jill Group (Consumer Discretionary), and Investment Technology
Group (Financials).
24
THE HARTFORD SMALLCAP GROWTH FUND
PERFORMANCE OVERVIEW 10/31/92 - 4/30/03
Growth of a $10,000 investment in Class A which includes Sales Charge(4),(6)
[LINE GRAPH]
SmallCap Russell 2000
Growth Fund Growth Index
$ 9,445 $10,000
$13,038 $12,768
$11,791 $12,652
$15,883 $15,254
$17,783 $17,287
$16,800 $20,943
$16,228 $17,625
$30,861 $22,787
$47,552 $26,467
$24,553 $18,127
$20,411 $14,218
$20,116 $14,329
AVERAGE ANNUAL TOTAL RETURNS (as of 4/30/03)(4),(5)
INCEPTION SINCE
Standardized DATE 1 YEAR 5 YEAR 10 YEAR INCEPTION
- ------------ --------- ------ ------ ------- ---------
SmallCap A 1/4/88 -28.98% 0.10% 7.24% 10.32%
SmallCap B 11/14/94 -29.09% 0.51% N/A 6.88%
SmallCap C 11/14/94 -27.16% 0.23% N/A 6.73%
SmallCap H 11/14/94 -28.41% 0.49% N/A 6.88%
SmallCap L 1/4/88 -28.50% 0.23% 7.31% 10.36%
SmallCap M 11/14/94 -28.35% 0.51% N/A 6.88%
SmallCap N 11/14/94 -26.13% 0.65% N/A 6.88%
SmallCap Y 2/19/02 -24.61% N/A N/A -17.84%
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
Please see page 1 for important additional information including inception dates
and expenses.
PORTFOLIO MANAGERS
DAVID J. ELLIOTT, CFA
Vice President
Wellington Management Company, LLP
JAMES A. RULLO, CFA
Senior Vice President, Partner
Wellington Management Company, LLP
HOW DID THE FUND PERFORM?
The Hartford SmallCap Growth Fund Class A shares returned 4.69%, before sales
charge, for the six-month period ended April 30, 2003, slightly outperforming
the 4.60% return of the Lipper Small Cap Growth peer group but underperforming
the 7.65% return of the Russell 2000 Growth Index.
WHY DID THE FUND PERFORM THIS WAY?
Equity markets performed solidly during the period, particularly as geopolitical
uncertainties began to subside. The outperformance of small capitalization
stocks over large during the period suggests that the market anticipates a
recovery in corporate profits, to which these stocks are more highly leveraged.
The underperformance of the Fund relative to the benchmark is attributable
largely to poor stock selection within the Financials sector, particularly two
larger holdings. The shares of Investment Technology Group lost approximately
half their value due to disappointing trading volume within the firm's
electronic trading network, and the insurance broker Clark/Bardes performed
poorly due to legislative uncertainty regarding certain lines of their business.
On the positive side, stock selection added significant value within the
Consumer Discretionary and Industrial sectors. Positive contributors included
UnitedGlobalCom (driven by dramatically improved operating results within the
cable business) and Jacobs Engineering.
25
THE HARTFORD STOCK FUND
PERFORMANCE OVERVIEW 7/22/96 - 4/30/03
Growth of a $10,000 investment in Class A which includes Sales Charge(3)
[LINE GRAPH]
Stock Fund S&P 500 Index
$ 9,450 $10,000
$10,443 $11,198
$11,568 $12,542
$11,900 $12,845
$14,196 $15,368
$13,675 $14,790
$14,510 $15,914
$16,874 $18,118
$17,671 $18,333
$16,939 $18,044
$19,509 $21,086
$20,975 $22,070
$21,089 $22,035
$21,271 $22,674
$22,013 $23,265
$23,489 $24,304
$22,976 $24,010
$23,076 $24,054
$22,500 $23,057
$20,754 $21,153
$19,760 $20,574
$17,475 $18,070
$18,459 $19,341
$17,226 $18,488
$14,796 $15,717
$14,207 $15,342
$14,694 $16,029
AVERAGE ANNUAL TOTAL RETURNS (as of 4/30/03)(1),(2)
Standardized INCEPTION DATE 1 YEAR 5 YEAR SINCE INCEPTION
- ------------ -------------- ------ ------ ---------------
Stock A 7/22/96 -19.41% -3.82% 5.85%
Stock B 7/22/96 -19.54% -3.78% 5.98%
Stock C 7/22/96 -17.07% -3.57% 5.86%
Stock Y 7/22/96 -14.25% -2.25% 7.25%
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
Please see page 1 for important additional information including inception dates
and expenses.
PORTFOLIO MANAGER
RAND L. ALEXANDER, CFA
Senior Vice President, Partner
Wellington Management Company, LLP
ASSOCIATE PORTFOLIO MANAGER
MAYA K. BITTAR, CFA
Vice President
Wellington Management Company, LLP
HOW DID THE FUND PERFORM?
The Hartford Stock Fund Class A shares returned 3.42%, before sales charge, for
the six-month period ended April 30, 2003, slightly ahead of its Lipper Large
Cap-Core peer group 3.0% and slightly trailing the S&P 500 Index 4.48%.
WHY DID THE FUND PERFORM THIS WAY?
The six-months ended April 30, 2003, were a turning point as most major market
indices posted positive returns. On a relative basis, small-caps outperformed
mid-cap and large-cap stocks and value outperformed growth. Eight of the ten
sectors posted positive gains for the period with Utilities, Materials and
Technology leading the way. Strong stock selection in Health Care, Energy and
Materials contributed to overall performance. In contrast, our holdings in
Technology and Industrials were detractors. Overall, our sector allocations had
a neutral effect. Top contributors to performance for the period included
General Electric (Industrials), Wyeth (Pharmaceutical) and Cisco (Technology).
26
THE HARTFORD TAX-FREE CALIFORNIA FUND
PERFORMANCE OVERVIEW 10/31/02 - 4/30/03
Growth of a $10,000 investment in Class A which includes Sales Charge(3)
[LINE GRAPH]
Tax-Free Lehman Brothers
California California Exempt
Fund Index
$9,550 $10,000
$9,476 $ 9,985
$9,718 $10,166
$9,619 $10,116
$9,813 $10,269
$9,804 $10,274
$9,862 $10,339
CUMULATIVE TOTAL RETURNS (as of 4/30/03)(2)
Standardized INCEPTION DATE SINCE INCEPTION
- ------------ -------------- ---------------
California A 10/31/02 -1.36%
California B 10/31/02 -2.08%
California C 10/31/02 1.90%
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
Please see page 1 for important additional information including inception dates
and expenses.
PORTFOLIO MANAGER
CHARLES GRANDE
Vice President
Hartford Investment Management Company
HOW DID THE FUND PERFORM?
The Hartford Tax Free California Fund Class A shares placed in the 64th
percentile of its Lipper peer group for the six months ended April 30, 2003,
producing a total return of 3.28%, before sales charge, versus a return of 3.39%
for the Lehman Brothers California Exempt Index and the 3.32% average return of
the Lipper California Municipal Debt Funds Universe.
WHY DID THE FUND PERFORM THIS WAY?
During the end of 2002, the short maturities outperformed long maturities.
Maturity buckets seven years and shorter were the only spots on the yield curve
posting positive returns. At funding, in order to provide investors with the
highest market yields available, and to meet the fund objective, purchases
focused on long maturity liquid bonds. Hence, this Fund sacrificed performance
in order to add yield by having very limited exposure to the short portion of
the curve.
Year to date 2003 issuance in California is $21.1 billion, a 64% increase over
the same period in 2002.
Municipal bonds held up during the seasonally weak first quarter primarily
because of strong institutional demand. The institutional investor in California
bonds, reacting to the municipal cheapness relative to alternative investments,
was active primarily in intermediate municipals and thus the best performing
part of the California yield curve was between 12 and 16 years.
During the first quarter of 2003, Fund performance lagged due to an overweight
to bonds twenty years and longer (in favor of the additional yield pickup) and
an underweight to the better performing intermediate portion of the yield curve.
Long bonds were the worst performing part of the California curve. We suspect
that long state general obligation debt, because of weak credit fundamentals and
an abundance of supply, led the decline in poor performance. All three major
rating agencies downgraded the state's credit rating during period.
Weak cross-sector credit fundamentals for California long bonds included: the
continuous barrage of negative headlines on the state's ever-widening budget
deficit causing long obligations spreads to widen; airline special facility
bonds suffered another downdraft with another major carrier hours from filing
for bankruptcy; and, state tobacco bonds suffered heavy losses because of the
uncertain outcome of a lawsuit against Phillip Morris USA and the negative
implications for the payment stream supporting the bond. However, an April
ruling secured a critical legal victory for Philip Morris. This ruling
alleviates, for now, a potential bankruptcy situation should help the recent
volatility in tobacco bond prices to positive side. A lack of exposure to
troubled California airline special facility bonds assisted fund performance,
while exposure to California tobacco bonds produced a drag on performance.
Additionally, the Fund has no exposure to long uninsured state debt, which
tightened 6 basis points in April after trading at its widest historical spread
60 basis points in March.Quality attracted the attention of investors during the
early part of this year, especially the retail investor - an important component
in the California market. The surprising contributor to performance were the
state general obligation bonds which appear to have bounced back after having
been beaten down for much of the last six months.
27
THE HARTFORD TAX-FREE MINNESOTA FUND
PERFORMANCE OVERVIEW 10/31/92 - 4/30/03
Growth of a $10,000 investment in Class A which includes Sales Charge (7),(9)
[LINE GRAPH]
TAX-FREE LEHMAN BROTHERS
MINNESOTA MUNICIPAL BOND
FUND INDEX
$ 9,550 $10,000
$10,930 $11,408
$10,509 $10,911
$11,761 $12,530
$12,276 $13,245
$13,120 $14,369
$14,055 $15,521
$13,720 $15,246
$14,716 $16,544
$16,157 $18,282
$16,748 $19,356
$15,973 $18,612
AVERAGE ANNUAL TOTAL RETURNS (as of 4/30/03) (7),(8)
INCEPTION SINCE
Standardized DATE 1 YEAR 5 YEAR 10 YEAR INCEPTION
- ------------ --------- ------ ------ ------- ---------
Minn A 6/2/86 2.25% 4.23% 4.80% 5.99%
Minn B 11/14/94 1.20% 4.00% N/A 5.41%
Minn C 11/14/94 4.23% 3.93% N/A 5.30%
Minn H 11/14/94 2.40% 4.03% N/A 5.46%
Minn E 6/2/86 2.59% 4.45% 4.91% 6.06%
Minn L 11/14/94 2.42% 4.21% N/A 5.68%
Minn M 11/14/94 2.52% 4.06% N/A 5.45%
Minn N 11/14/94 5.40% 4.43% N/A 5.46%
Minn Y 2/19/02 7.56% N/A N/A 6.90%
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
Please see page 1 for important additional information including inception dates
and expenses.
PORTFOLIO MANAGER
CHARLES GRANDE, CFA
Vice President
Hartford Investment Management Company
HOW DID THE FUND PERFORM?
The Hartford Tax Free Minnesota Fund Class A shares placed in the 1st quartile
of its Lipper peer group for the six months ended April 30, 2003, producing a
total return of 3.02%, before sales charge, versus a return of 3.59% for the
Lehman Brothers Municipal Bond Index and the 3.94% return of the Lipper
Minnesota Municipal Debt Funds Universe.
WHY DID THE FUND PERFORM THIS WAY?
During the end of 2002, the short maturities outperformed long maturities.
Maturity buckets seven years and shorter were the only spots on the curve
posting positive returns. This Fund benefited from its exposure to the shorter
area of the yield curve. Additionally, general obligation bonds in the state
outperformed revenue bonds for much of the period and the Fund benefited from
its overweighting.
Year to date 2003, while the general market has seen record issuance, the
Minnesota market presented very little in the way of new issuance. The limited
supply of new Minnesota bonds has made repositioning this Fund to its new yield
maximization mandate very challenging. Trading opportunities in both the primary
and secondary markets have been limited.
Thus far this year, the Fund's overweight to the now poor performing short
maturities and its holdings of Puerto Rico debt have hurt fund performance.
Bonds issued by the Commonwealth of Puerto Rico have suffered and underperformed
the general market since the beginning of this year. This underperformance has
occurred primarily because of the Commonwealth's difficult fiscal and budgetary
environment and a large calendar of issuance. Additionally, the readily
available supply of specialty state paper in both California and New York has
removed some of the specialty status pricing advantage Commonwealth paper
typically carries with it.
A lack of exposure to troubled airline special facility bonds assisted fund
performance, while the Fund's limited exposure to tobacco bonds issued by Puerto
Rico produced a drag on performance. Airline special facility bonds suffered
another downdraft with another major carrier hours away from filing for
bankruptcy. Tobacco bonds suffered heavy losses because of the uncertain outcome
of a lawsuit against Phillip Morris USA and the negative implications for the
payment stream supporting the bond. However, an April ruling secured a critical
legal victory for Philip Morris. This ruling alleviates, for now, a potential
bankruptcy situation and should help the recent volatility in tobacco bond
prices to the positive side. Negative credit headlines have also plagued the
municipal market, especially revenue bonds which under performed general
obligation debt for the first quarter. The Fund's overweight to revenue bonds
also produced a drag on performance.
28
THE HARTFORD TAX-FREE NATIONAL FUND
PERFORMANCE OVERVIEW 10/31/92 - 4/30/03
Growth of a $10,000 investment in Class A which includes Sales Charge (7),(9)
[LINE GRAPH]
LEHMAN BROTHERS
TAX-FREE MUNICIPAL
NATIONAL FUND BOND INDEX
$ 9,550 $10,000
$11,053 $11,408
$10,461 $10,911
$11,855 $12,530
$12,469 $13,245
$13,424 $14,369
$14,360 $15,521
$13,841 $15,246
$14,949 $16,544
$16,514 $18,282
$17,319 $19,356
$16,471 $18,612
PORTFOLIO MANAGER
CHARLES GRANDE, CFA
Vice President
Hartford Investment Management Company
AVERAGE ANNUAL TOTAL RETURNS (as of 4/30/03) (7),(8)
INCEPTION SINCE
Standardized DATE 1 YEAR 5 YEAR 10 YEAR INCEPTION
- ------------ --------- ------ ------ ------- ---------
National A 6/2/86 3.75% 4.59% 5.11% 6.49%
National B 11/14/94 2.56% 4.18% N/A 5.91%
National C 11/14/94 5.47% 4.19% N/A 5.81%
National H 11/14/94 3.66% 4.26% N/A 5.94%
National E 6/2/86 3.72% 4.63% 5.13% 6.50%
National L 11/14/94 3.41% 4.38% N/A 6.16%
National M 11/14/94 3.66% 4.24% N/A 5.94%
National N 11/14/94 6.67% 4.56% N/A 5.93%
National Y 2/19/02 9.19% N/A N/A 7.96%
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
Please see page 1 for important additional information including inception dates
and expenses.
HOW DID THE FUND PERFORM?
The Hartford Tax Free National Fund Class A shares placed in the 2nd quartile of
its Lipper peer group for the six months ended April 30, 2003, producing a total
return of 3.58%, before sales charge, versus a return of 3.59% for the Lehman
Brothers Municipal Bond Index and the 3.44% average return of the Lipper
Municipal Debt Funds Universe.
WHY DID THE FUND PERFORM THIS WAY?
During the end of 2002, the short maturities outperformed long maturities.
Maturity buckets seven years and shorter were the only spots on the yield curve
posting positive returns. This Fund has specifically avoided the short portion
of the municipal curve in favor of the intermediate portion. For the year
2002, the 15-year part of the yield curve was the best performing and the
Fund's overweight mitigated any lack of exposure to the short part of the yield
curve. The Fund also had exposure to a number of specialty state names that
experienced spread tightening due to a lack of supply. During December, the
transportation, health care and education sub-sectors did bounce back from
underperformance during the prior months, but still posted negative returns. We
remain very cautious on these sub-sectors.
Year to date 2003, a large new issue calendar, relatively cheap municipal bonds,
strong institutional demand and a daily barrage of negative credit headlines
have all played a part in the performance of the general municipal market. First
quarter 2003 issuance of municipal debt ($83.5 billion) represented the
highest first quarter of issuance on record. Municipal bonds held up well during
the seasonally weak first quarter primarily because of strong institutional
demand reacting to its relative cheapness versus alternative investments. The
Fund has benefited over the past 6 months from its overweight to the best
performing intermediate portion of the curve and an underweight to the now
poorer performing short portion of the yield curve.
A lack of exposure to troubled airline special facility bonds assisted fund
performance, while limited exposure to tobacco bonds produced a drag on
performance. Airline special facility bonds suffered a downdraft early this year
with another major carrier hours away from filing for bankruptcy. State tobacco
bonds suffered heavy losses early this year because of the uncertain outcome of
a lawsuit against Philip Morris USA and the negative implications for the
payment stream supporting the bond. An April ruling however secured a critical
legal victory for Philip Morris. This ruling alleviates, for now, a poten-
tial bankruptcy situation and should help the recent volatility in tobacco bond
prices to the positive side.
Quality and solid credit fundamentals have provided the Fund with solid returns
for the past 6 months. Continuing with the theme that quality was king, AAA and
AA bonds outperformed all other ratings categories. The Fund's strong quality
profile and higher coupon also contributed to the positive performance.
29
The Hartford Tax-Free New York Fund
PERFORMANCE OVERVIEW 10/31/02 - 4/30/03
Growth of a $10,000 investment in Class A which includes Sales Charge(3)
[LINE GRAPH]
LEHMAN
TAX-FREE NEW YORK
NEW YORK FUND EXEMPT INDEX
$9,550 $10,000
$9,474 $ 9,945
$9,733 $10,161
$9,661 $10,138
$9,832 $10,275
$9,851 $10,285
$9,938 $10,350
PORTFOLIO MANAGER
CHARLES GRANDE
Vice President
Hartford Investment Management Company
CUMULATIVE TOTAL RETURNS (as of 4/30/03)(2)
Standardized INCEPTION DATE SINCE INCEPTION
- ------------ -------------- ---------------
New York A 10/31/02 -0.62%
New York B 10/31/02 -1.31%
New York C 10/31/02 2.67%
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
Please see page 1 for important additional information including inception dates
and expenses.
HOW DID THE FUND PERFORM?
The Hartford Tax Free New York Fund Class A shares placed in the 1st quartile of
its Lipper peer group for the six months ended April 30, 2003, producing a total
return of 4.06%, before sales charge, versus a return of 3.50% Lehman Brothers
New York Exempt Index and the 3.25% average return of the Lipper New York
Municipal Debt Funds Universe.
WHY DID THE FUND PERFORM THIS WAY?
During the end of 2002, the short maturities outperformed long maturities.
Maturity buckets seven years and shorter were the only spots on the yield curve
posting positive returns. At funding, in order to provide investors with the
highest market yields available, and to meet the Fund objective, purchases
focused on long maturity liquid bonds. Hence, this Fund sacrificed performance
in order to add yield by having very limited exposure to the short portion of
the curve.
Year to date 2003, New York issuers have sold $12.9 billion in bonds, an
increase of over 101% over the same period in 2002. Municipal bonds held up
during the seasonally weak first quarter primarily because of strong
institutional demand. The institutional investor, reacting to the relative
cheapness, was primarily active in the long intermediate portion of the curve
and thus the best performing part of the general curve was 15 years and longer.
The Fund's outperformance during 2003, versus fourth quarter 2002
underperformance, has had greater influence on overall six-month returns.
Outperformance was primarily due to three factors; a lack of exposure to the now
underperforming short maturities; an overweight to the better performing portion
of the New York curve between 18 - 22 years; and, better security selection.
A lack of exposure to troubled airline special facility bonds and limited
exposure to tobacco bonds also assisted fund performance. Airline special
facility bonds suffered a downdraft early this year with another major carrier
hours away from filing for bankruptcy. State tobacco bonds suffered heavy losses
early this year because of the uncertain outcome of a lawsuit against Philip
Morris USA and the negative implications for the payment stream supporting the
bond. However, an April ruling secured a critical legal victory for Philip
Morris. This ruling alleviates, for now, a potential bankruptcy situation and
should help the recent volatility in tobacco bond prices to the positive side.
Quality and solid credit fundamentals provided the best return for the Fund over
the last six months. This has been partially driven by the issuance of rating
agencies' negative outlooks for New York City and negative headline news on the
fiscal condition of New York State. Insured local general obligation debt
provided good diversification away from the state's large issuance calendar and
uninsured local general obligation debt has not yet suffered the negative
attention the Rating Agencies have focused on the state. The Fund's overweight
to the insured sector is a large contributor to yield primarily because we are
willing to take bigger and longer maturity positions in these securities.
Our activity in the higher education sector has begun to pay rewards, as this
was the best performing revenue sub-sector. We are maintaining our discipline,
looking for credits with well-known names that exhibit solid historical
performance but may be currently suffering because of a turn in endowment
performance. We expect to limit our overweight to the education sector (25%)
going forward.
30
The Hartford Total Return Bond Fund
PERFORMANCE OVERVIEW 7/22/96 - 4/30/03
Growth of a $10,000 investment in Class A which includes Sales Charge(3)
[LINE GRAPH]
LEHMAN BROTHERS
TOTAL RETURN U.S. AGGREGATE
BOND FUND BOND INDEX
$ 9,450 $10,000
$ 9,958 $10,410
$10,153 $10,522
$10,205 $10,588
$10,811 $11,108
$10,960 $11,337
$11,339 $11,652
$11,419 $11,743
$11,618 $11,980
$11,871 $12,394
$12,122 $12,591
$11,940 $12,479
$11,655 $12,276
$11,766 $12,458
$11,673 $12,356
$11,951 $12,634
$12,293 $13,008
$12,539 $13,367
$13,302 $14,066
$13,378 $14,200
$13,740 $14,660
$14,162 $15,316
$14,075 $15,129
$14,178 $15,314
$14,335 $15,767
$14,798 $16,218
$15,905 $16,918
PORTFOLIO MANAGER
NASRI TOUTOUNGI
Senior Vice President
Hartford Investment Management Company
AVERAGE ANNUAL TOTAL RETURNS (as of 4/30/03)(1),(2)
Standardized INCEPTION DATE 1 YEAR 5 YEAR SINCE INCEPTION
- ------------ -------------- ------ ------ ---------------
Total Return A 7/22/96 7.13% 5.88% 7.10%
Total Return B 7/22/96 6.34% 5.78% 7.06%
Total Return C 7/22/96 9.21% 5.88% 6.89%
Total Return Y 7/22/96 12.59% 7.33% 8.32%
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
Please see page 1 for important additional information including inception dates
and expenses.
HOW DID THE FUND PERFORM?
The Hartford Total Return Bond Fund Class A shares placed in the 1st quartile of
its Lipper peer group for the six months ended April 30, 2003, producing a total
return of 7.48%, before sales charge, versus a return of 4.32% for the Lehman
Brothers U.S. Aggregate Bond Index and the 4.75% average return of the Lipper
Intermediate Investment Grade Debt Funds Universe.
WHY DID THE FUND PERFORM THIS WAY?
Market sentiment for most of the year reflected the fact that the war in Iraq
was a significant constraint on the economy and that growth would accelerate
once fighting concluded. Recent economic statistics such as traditional leading
indicators, new claims for unemployment insurance, and the Institute for
Supply Management, all continue to paint a picture of a deteriorating economy,
however. Expansionary federal fiscal policy is stimulative, but there is
significant offset at the state and local level as budget deficits are addressed
through decreased spending and increased taxes. Interest rates reflected the
state of the economy, as the 10year Treasury hovered between 3.5% and 4.25%
over the past six months, down from 5% in April of last year. Despite clear
signs of a weak economy, spread products did extremely well in the past few
months, as signs of balance sheet repair provided a catalyst for the realization
that we were entering a cycle favorable to credit performance.
The Fund's strong performance was due in large part to our overweight and issue
selection in high yield bonds and investment grade corporate bonds. The Fund's
current 4% exposure in non-dollar bonds continues to benefit the Fund as
fundamentals continue to support a weak US dollar relative to foreign
currencies. These securities also offer a higher yield than comparable US
issues.
With the Fed raising the specter of disinflation, we have reduced our exposure
to Treasury Inflation Protected Securities in the portfolio. The Fed's comments
are supportive of TIPS in the long term, but for the short term we are worried
about the technical aspects of that market.
We remain concerned about the mortgage-backed sector as we continue to see
record refinancing activity and its underperformance both in a rally and in a
backup. We remain underweight mortgage-backed securities but would still like
to add to our 15 year mortgage position. The benefit of the 15 year mortgages
is that they are less price sensitive than 30 year mortgages, i.e. they will
suffer less in sharp rallies and back-ups, while providing us with incremental
yield for the portfolio.
31
The Hartford U.S. Government Securities Fund
PERFORMANCE OVERVIEW 10/31/92 - 4/30/03
Growth of a $10,000 investment in Class A which includes Sales Charge(7),(9)
[LINE GRAPH]
LEHMAN BROTHERS
U.S. GOVERNMENT INTERMEDIATE LEHMAN BROTHERS
SECURITIES FUND GOV'T INDEX U.S. GOV'T INDEX
$ 9,550 $10,000 $10,000
$10,467 $10,921 $10,582
$ 9,834 $10,734 $10,109
$11,164 $12,000 $11,663
$11,746 $12,681 $12,260
$12,727 $13,609 $13,320
$13,882 $14,905 $14,825
$13,765 $15,027 $14,643
$14,708 $16,038 $15,818
$16,763 $18,259 $18,204
$17,825 $19,480 $19,372
$17,473 $18,889 $19,970
PORTFOLIO MANAGER
PETER PERROTTI
Senior Vice President
Hartford Investment Management Company
AVERAGE ANNUAL TOTAL RETURNS (as of 4/30/03)(7),(8)
INCEPTION SINCE
Standardized DATE 1 YEAR 5 YEAR 10 YEAR INCEPTION
- ------------ ---- ------ ------ ------- ---------
U.S. Gov A 2/28/73 4.85% 6.07% 5.74% 7.94%
U.S. Gov B 11/14/94 4.10% 5.71% N/A 6.73%
U.S. Gov C 11/14/94 7.01% 5.69% N/A 6.60%
U.S. Gov H 11/14/94 5.10% 5.74% N/A 6.74%
U.S. Gov E 2/28/73 5.28% 6.16% 5.78% 7.95%
U.S. Gov L 11/14/94 4.99% 5.90% N/A 6.95%
U.S. Gov M 11/14/94 5.10% 5.74% N/A 6.74%
U.S. Gov N 11/14/94 8.21% 6.10% N/A 6.76%
U.S. Gov Y 2/19/02 10.43% N/A N/A 9.37%
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
Please see page 1 for important additional information including inception dates
and expenses.
* The Fund has changed its benchmark from the Lehman Brothers Intermediate Gov't
Index to the Lehman Brothers U.S. Government Index because the Lehman Brothers
U.S. Government Index is better suited for the investment strategy of the fund
HOW DID THE FUND PERFORM?
The Hartford US Government Securities Fund Class A shares placed in the 1st
quartile of its Lipper peer group for the six months ended April 30, 2003,
producing a total return of 3.42%, before sales charge, versus a return of 3.10%
for the Lehman Brothers U.S. Government Index and the 2.79% average return of
the Lipper General US Government Funds Universe.
WHY DID THE FUND PERFORM THIS WAY?
Investors desire to add yield helped spread products to outperform Treasuries
throughout this year. Additionally, the lack of a significant change in the
level of interest rates helped mortgages outperform Treasuries, even with the
high level of refinancings taking place. The 10-year Treasury is back within a
relatively tight trading range of 3.80% to 4.25%. The yield curve continues to
be steep, with the difference between the 2-year and 10-year over 2.30%. The
Fund has been able to increase the yield by adding longer dated securities that
take advantage of these higher yields.
The Fund's strong performance over the last six months can be attributed to many
factors. The Fund benefited from being overweight the 5 to 10-year part of the
Treasury curve, where yields rallied the most early in the year. Overweights to
mortgage-backed securities, callable agencies and collateralized mortgage
obligations continue to add a significant yield pickup for the Fund regardless
of the very low yield environment. Also, the high inflation accruals provided by
Treasury Inflation Protected Securities have also added significantly to yield
over the past few months due to the high CPI readings.
32
The Hartford Value Fund
PERFORMANCE OVERVIEW 4/30/01 - 4/30/03
Growth of a $10,000 investment in Class A which includes Sales Charge(3)
[LINE GRAPH]
Value Russell 1000
Fund Value Index
$9,450 $10,000
$9,507 $ 9,977
$8,524 $ 8,826
$9,158 $ 9,486
$8,893 $ 9,609
$7,696 $ 8,256
$7,212 $ 7,942
$6,913 $ 7,880
$7,420 $ 8,359
PORTFOLIO MANAGER
JOHN R. RYAN, CFA
Senior Vice President, Managing Partner
Wellington Management Company, LLP
AVERAGE ANNUAL TOTAL RETURNS (as of 4/30/03)(2)
Standardized INCEPTION DATE 1 YEAR SINCE INCEPTION
- ------------ -------------- ------ ---------------
Value A 4/30/01 -21.11% -13.86%
Value B 4/30/01 -21.28% -13.84%
Value C 4/30/01 -18.95% -12.46%
Value Y 4/30/01 -16.17% -11.00%
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
Please see page 1 for important additional information including inception dates
and expenses.
HOW DID THE FUND PERFORM?
The Hartford Value Fund Class A shares returned 2.90%, before sales charge, for
the six-month period ended April 30, 2003. The Fund underperformed the Russell
1000 Value Index return of 5.25% and the Lipper Large-Cap Value Mutual Fund
Average of 4.1% for the same period.
WHY DID THE FUND PERFORM THIS WAY?
During the period, large-cap value stocks outperformed large-cap growth, as
measured by the Russell 1000 Value and Russell 1000 Growth Indices, which
returned 5.25% and 4.27% respectively. The Fund benefited from stock selection
in Industrials and Health Care. Unfortunately this was more than offset by poor
performance in Technology and Telecommunications, where the Fund is slightly
overweight relative to the benchmark. The three greatest contributors to
absolute performance were Comcast (Consumer Discretionary), Washington Mutual
(Financials), and Caterpillar (Industrials). The three greatest detractors were
Micron Technology (Technology), Stanley Works (Consumer Discretionary), and SBC
Communications (Telecommunications).
33
The Hartford Value Opportunities Fund
PERFORMANCE OVERVIEW 1/2/96 - 4/30/03
Growth of a $10,000 investment in Class A which includes Sales Charge(4),(6)
[LINE GRAPH]
Value
Opportunities Russell 3000
Fund Value Index
$ 9,800 $10,000
$10,140 $10,617
$ 9,800 $10,334
$10,697 $11,451
$11,716 $12,706
$11,842 $12,923
$13,544 $15,299
$13,302 $15,295
$14,225 $16,154
$15,698 $18,369
$14,967 $17,839
$14,053 $17,220
$15,539 $18,708
$16,586 $20,452
$16,325 $20,284
$15,824 $19,850
$16,013 $19,201
$17,536 $19,769
$17,012 $19,399
$19,213 $21,102
$20,764 $21,551
$20,539 $21,266
$19,793 $21,287
$16,879 $18,867
$18,472 $20,379
$17,704 $20,805
$14,329 $17,793
$13,952 $17,085
$14,947 $18,007
AVERAGE ANNUAL TOTAL RETURNS (as of 4/30/03)(4),(5)
Standardized INCEPTION DATE 1 YEAR 5 YEAR SINCE INCEPTION
- ------------ -------------- ------ ------ ---------------
Value Opp A 1/2/96 -20.19% -2.09% 5.64%
Value Opp B 1/2/96 -20.43% -2.00% 5.66%
Value Opp C 1/2/96 -17.92% -2.11% 5.53%
Value Opp H 1/2/96 -19.58% -1.98% 5.67%
Value Opp L 1/2/96 -19.68% -1.94% 5.75%
Value Opp M 1/2/96 -19.50% -1.98% 5.68%
Value Opp N 1/2/96 -16.97% -1.68% 5.69%
Value Opp Y 2/19/02 -15.22% N/A -13.95%
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
Please see page 1 for important additional information including inception dates
and expenses.
PORTFOLIO MANAGERS
JAMES H. AVERILL
Senior Vice President, Partner
Wellington Management Company, LLP
JAMES N. MORDY
Senior Vice President, Partner
Wellington Management Company, LLP
DAVID R. FASSNACHT, CFA
Senior Vice President, Partner
Wellington Management Company, LLP
HOW DID THE FUND PERFORM?
The Hartford Value Opportunities Fund Class A shares returned 7.13%, before
sales charge, for the six-month period ended April 30, 2003. The Fund
outperformed the Russell 3000 Value Index and the Lipper Multi-Cap Value Mutual
Fund Average, which both returned 5.4% for the same period.
WHY DID THE FUND PERFORM THIS WAY?
Overall strong sector allocation and strong stock selection in Industrials and
Consumer Discretionary drove the Fund's outperformance relative to its market
benchmark. Weakness among Health Care and Technology holdings detracted from
benchmark-relative results during the period. The Fund's three greatest
contributors to absolute performance were Comcast (Consumer Discretionary),
UnitedGlobalCom (Consumer Discretionary) and Fannie Mae (Financials) and the
three greatest detractors were Oxford Health Plans (Health Care), Micron
Technology (Technology) and BJ's Wholesale (Consumer Staples).
34
[THIS PAGE IS INTENTIONALLY LEFT BLANK]
THE HARTFORD ADVISERS FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE(C)
- --------- ----------
COMMON STOCK -- 62.5%
BASIC MATERIALS -- 3.9%
743 Alcoa, Inc. ...................................... $ 17,039
483 Dow Chemical Co. ................................. 15,753
198 DuPont (E.I.) de Nemours & Co. ................... 8,429
550 Gillette Co. (with rights)........................ 16,748
406 International Paper Co. .......................... 14,504
339 Kimberly-Clark Corp. ............................. 16,862
----------
89,335
----------
CAPITAL GOODS -- 1.9%
103 Boeing Co. ....................................... 2,807
220 Illinois Tool Works, Inc. ........................ 14,076
181 Northrop Grumman Corp. (with rights).............. 15,910
182 United Technologies Corp. ........................ 11,262
----------
44,055
----------
CONSUMER CYCLICAL -- 4.8%
215 Caterpillar, Inc. (with rights)................... 11,304
583 Costco Wholesale Corp.(a)......................... 20,196
508 Gap, Inc. ........................................ 8,455
763 Home Depot, Inc. ................................. 21,455
25 Kohl's Corp.(a)................................... 1,426
336 Masco Corp. (with rights)......................... 7,088
281 NIKE, Inc. Class B................................ 15,047
977 Safeway, Inc.(a).................................. 16,244
256 Target Corp. (with rights)........................ 8,567
----------
109,782
----------
CONSUMER STAPLES -- 4.6%
689 Coca-Cola Co.+.................................... 27,840
373 General Mills, Inc. .............................. 16,835
237 Kraft Foods, Inc. Class A......................... 7,317
175 Pepsi Bottling Group, Inc. ....................... 3,586
611 PepsiCo, Inc. .................................... 26,448
183 Procter & Gamble Co. ............................. 16,443
115 Weyerhaeuser Co. ................................. 5,688
----------
104,157
----------
ENERGY -- 4.5%
249 Anadarko Petroleum Corp. (with rights)............ 11,060
350 Chevron Texaco Corp. (with rights)................ 21,984
1,414 Exxon Mobil Corp. ................................ 49,769
216 Halliburton Co. (with rights)..................... 4,629
353 Schlumberger Ltd. ................................ 14,806
----------
102,248
----------
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE(C)
- --------- ----------
FINANCE AND INSURANCE -- 11.8%
690 American International Group, Inc. ............... $ 40,013
320 Bank of America Corp. ............................ 23,703
477 Bank One Corp. ................................... 17,200
1,193 Citigroup, Inc. .................................. 46,842
24 Dime Bancorp, Inc. (Warrants)(a).................. 3
281 Fannie Mae........................................ 20,363
468 Franklin Resources, Inc. ......................... 16,320
409 HSBC Holdings plc+................................ 22,345
59 KeyCorp........................................... 1,411
395 Marsh & McLennan Companies, Inc. (with rights).... 18,838
425 Merrill Lynch & Co., Inc. ........................ 17,450
482 State Street Corp. (with rights).................. 16,892
489 Travelers Property Casualty Corp. Class B......... 7,945
356 U.S. Bancorp (with rights)........................ 7,886
304 Wachovia Corp. (with rights)...................... 11,627
----------
268,838
----------
HEALTH CARE -- 11.3%
567 Abbott Laboratories (with rights)................. 23,037
253 Amgen, Inc. (with rights)(a)...................... 15,524
89 Aventis S.A. ADR+................................. 4,465
711 Baxter International, Inc. (with rights).......... 16,353
123 Cardinal Health, Inc. ............................ 6,800
696 CVS Corp. ........................................ 16,855
381 Genzyme Corp. -- General Division(a).............. 15,359
400 HCA, Inc. ........................................ 12,840
124 IDEC Pharmaceuticals Corp.(a)..................... 4,055
398 Lilly (Eli) & Co. (with rights)................... 25,375
114 Medtronic, Inc. (with rights)..................... 5,428
249 Merck & Co., Inc. ................................ 14,469
1,770 Pfizer, Inc. (with rights)+....................... 54,439
976 Schering-Plough Corp. (with rights)............... 17,658
524 Wyeth (with rights)............................... 22,827
----------
255,484
----------
SERVICES -- 4.5%
958 Accenture Ltd. Class A(a)......................... 15,350
474 Automatic Data Processing, Inc. .................. 15,937
443 Comcast Corp. Class A(a).......................... 14,135
463 Computer Sciences Corp.(a)........................ 15,253
190 FedEx Corp. ...................................... 11,371
151 Gannett Co., Inc. (with rights)................... 11,449
59 Marriott International, Inc. Class A (with
rights)......................................... 2,122
171 SAP AG ADR........................................ 4,373
559 Waste Management, Inc. ........................... 12,137
----------
102,127
----------
TECHNOLOGY -- 14.9%
2,663 AOL Time Warner, Inc. (with rights)(a)............ 36,431
1,464 Cisco Systems, Inc. (with rights)(a).............. 22,014
182 First Data Corp. ................................. 7,144
1,985 General Electric Co. ............................. 58,449
1,425 Hewlett-Packard Co. .............................. 23,230
2,005 Intel Corp. ...................................... 36,898
441 International Business Machines Corp. ............ 37,441
1,531 Liberty Media Corp. Class A(a).................... 16,835
186 Lockheed Martin Corp. ............................ 9,319
2,339 Microsoft Corp. .................................. 59,795
@@ Minorplanet Systems USA, Inc. (Warrants)(a)(e).... @@
596 Oracle Corp. (with rights)(a)..................... 7,085
</Table>
The accompanying notes are an integral part of this financial statement.
36
- --------------------------------------------------------------------------------
<Table>
<Caption>
STANDARD
AND POOR'S MARKET
SHARES RATING VALUE(C)
- --------- ---------- ----------
COMMON STOCK -- (CONTINUED)
529 SBC Communications, Inc. ......................... $ 12,364
318 Verizon Communications, Inc. ..................... 11,891
----------
338,896
----------
TRANSPORTATION -- 0.3%
233 CSX Corp. (with rights)........................... 7,442
----------
Total common stock................................
(cost $1,614,176) $1,422,364
==========
ASSET BACKED AND COMMERCIAL MORTGAGE SECURITIES -- 3.0%
FINANCE -- 2.0%
$ 10,000 Chase Manhattan Auto Owner Trust
4.21%, Ser 2002-B Class A4
01/15/2009..................................... AAA 10,515
10,000 Citibank Credit Card Issuance Trust
5.65%, Ser 2001-A6 Class A6 06/16/2008......... AAA 10,916
1,000 Citibank Credit Card Master Trust I
6.90%, Ser 1999-7 Class B 11/15/2006........... A 1,077
10,000 MBNA Credit Card Master Note Trust
4.95%, Ser 2002-A1 Class A1 06/15/2009......... AAA 10,798
85 Money Store Home. Improvement Trust
7.41%, Ser 1999-1 Class M1 05/15/2017.......... AA 86
10,000 Peco Energy Transition Trust
6.13%, Ser 1999-A Class A7 03/01/2009.......... AAA 11,302
1,500 Standard Credit Card Master Trust
8.45%, Ser 1995-1 Class B 01/07/2007........... A 1,661
----------
46,355
----------
TRANSPORTATION -- 0.5%
10,000 Connecticut RRB Special Purpose Trust CL&P-1
6.21%, Ser 2001-1 Class A5 12/30/2011.......... AAA 11,394
----------
UTILITIES -- 0.5%
10,000 PSE&G Transition Funding LLC
6.61%, Ser 2001-1 Class A6 06/16/2015........... AAA 11,641
----------
Total asset backed and commercial mortgage
securities (cost $65,306) $ 69,390
==========
CORPORATE BONDS: INVESTMENT GRADE -- 16.8%
BASIC MATERIALS -- 1.5%
4,000 Alcan, Inc.
6.45%, 03/15/2011............................... A- 4,533
7,000 Alcoa, Inc.
7.375%, 08/01/2010.............................. A 8,301
500 ICI Wilmington, Inc.
6.95%, 09/15/2004............................... BBB 525
7,000 Rohm & Haas Co.
7.40%, 07/15/2009............................... BBB+ 8,326
4,000 Vulcan Materials Co.
5.75%, 04/01/2004............................... A+ 4,148
7,000 Westvaco Corp.
7.95%, 02/15/2031............................... BBB 8,261
----------
34,094
----------
CAPITAL GOODS -- 0.9%
5,000 Eaton Corp.
6.95%, 11/15/2004............................... A- 5,389
2,000 Parker-Hannifin Corp.
5.65%, 09/15/2003............................... A 2,030
2,000 Pitney Bowes, Inc.
5.50%, 04/15/2004............................... AA 2,076
2,000 Rockwell International Corp.
6.70%, 01/15/2028............................... A 2,209
7,000 United Technologies Corp.
7.125%, 11/15/2010.............................. A+ 8,330
----------
20,034
----------
CONSUMER CYCLICAL -- 1.1%
4,000 Albertson's, Inc.
6.55%, 08/01/2004............................... BBB+ 4,184
500 DaimlerChrysler N.A. Holding Corp.
7.40%, 01/20/2005............................... BBB+ 540
250 DaimlerChrysler N.A. Holding Corp.
7.75%, 01/18/2011............................... BBB+ 291
4,000 Target Corp.
5.875%, 11/01/2008.............................. A+ 4,508
250 Federated Department Stores, Inc.
6.30%, 04/01/2009............................... BBB+ 274
3,000 Ford Motor Co.
6.625%, 10/01/2028.............................. BBB 2,447
5,000 Home Depot, Inc.
6.50%, 09/15/2004............................... AA 5,323
</Table>
The accompanying notes are an integral part of this financial statement.
37
THE HARTFORD ADVISERS FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
STANDARD
PRINCIPAL AND POOR'S MARKET
AMOUNT RATING VALUE(C)
- --------- ---------- ----------
CORPORATE BONDS: INVESTMENT GRADE -- (CONTINUED)
CONSUMER CYCLICAL -- (CONTINUED)
$ 250 Sysco Corp. AA-
6.50%, 08/01/2028............................... $ 281
6,000 Wal-Mart Stores, Inc. AA
6.875%, 08/10/2009.............................. 7,105
----------
24,953
CONSUMER STAPLES -- 2.5%
4,000 Anheuser-Busch Companies, Inc..................... A+
7.55%, 10/01/2030 5,167
5,000 Archer-Daniels-Midland Co......................... A+
7.00%, 02/01/2031 5,979
2,000 Archer-Daniels-Midland Co......................... A+
8.125%, 06/01/2012 2,520
7,000 Clorox Co......................................... A+
6.125%, 02/01/2011 7,840
250 Coca-Cola Bottling Co............................. BBB
6.375%, 05/01/2009 281
4,000 Coca-Cola Enterprises, Inc........................ A
5.75%, 11/01/2008 4,477
2,000 Colgate-Palmolive Co.............................. Aa3*
5.58%, 11/06/2008 2,212
4,906 ConAgra Foods, Inc................................ BBB+
6.70%, 08/01/2027 5,631
2,000 Hershey Foods Corp................................ A+
7.20%, 08/15/2027 2,383
500 Pepsi Bottling Group, Inc......................... A-
7.00%, Ser B 03/01/2029 593
7,000 PepsiAmericas, Inc................................ A-
5.95%, 02/15/2006 7,602
3,000 PepsiAmericas, Inc................................ A-
6.375%, 05/01/2009 3,290
250 Proctor & Gamble Co............................... AA-
6.875%, 09/15/2009 297
7,000 Proctor & Gamble Co............................... AA-
9.36%, Ser A 01/01/2021 9,588
----------
57,860
----------
ENERGY -- 0.6%
7,000 Atlantic Richfield Co............................. AA+
5.90%, 04/15/2009 7,827
500 Conoco, Inc....................................... A-
6.95%, 04/15/2029 585
4,000 National Fuel Gas Co.............................. BBB+
6.00%, 03/01/2009 4,380
----------
12,792
----------
FINANCE -- 5.5%
4,000 ACE INA Holdings Corp............................. BBB+
8.30%, 08/15/2006 4,540
2,000 Allstate Corp..................................... A+
6.75%, 05/15/2018 2,260
250 American General Corp............................. AAA
6.625%, 02/15/2029 283
545 American Reinsurance Corp......................... BBB+
7.45%, Ser B 12/15/2026 571
1,420 Amerus Group, Inc................................. BBB+
6.95%, 06/15/2005 1,445
7,000 Apache Finance Property Ltd....................... A-
7.00%, 03/15/2009 8,097
500 Aristar, Inc...................................... A-
7.25%, 06/15/2006 567
4,000 AXA Financial, Inc................................ A
7.00%, 04/01/2028 4,323
3,000 Bank One Corp..................................... A
6.50%, 02/01/2006 3,337
3,000 Bank One Corp..................................... A
6.875%, 08/01/2006 3,395
2,000 Bayerische Landesbank NY.......................... AAA
5.65%, 02/01/2009 2,199
250 Boeing Capital Corp............................... A+
6.10%, 03/01/2011 263
500 BSCH Issuance Ltd................................. A-
7.625%, 11/03/2009 587
500 Citigroup, Inc.................................... AA-
6.50%, 01/18/2011 572
2,725 ERAC USA Finance Co............................... BBB+
7.35%, 06/15/2008(f) 3,090
10,000 Financing Corp.................................... Aaa*
9.80%, 04/06/2018 15,283
545 First Union National Bank......................... A
5.80%, 12/01/2008 600
500 General Motors Acceptance. Corp. BBB
6.15%, 04/05/2007 518
7,000 General Motors Acceptance. Corp. BBB
8.00%, 11/01/2031 7,291
250 Heller Financial, Inc............................. AAA
6.375%, 03/15/2006 276
500 Household Finance Corp............................ A
6.00%, 05/01/2004 521
4,000 International Lease Finance. Corp. AA-
5.75%, 02/15/2007 4,224
500 J.P. Morgan Chase & Co............................ A
6.75%, 02/01/2011 569
2,000 Jackson National Life Insurance. Co. A+
8.15%, 03/15/2027(f) 2,245
4,000 John Hancock Financial. Services, Inc. A+
7.375%, 02/15/2024(f) 4,520
2,755 Key Bank N.A., Inc................................ A
5.80%, 04/01/2004 2,860
250 KeyCorp Capital II................................ BBB
6.875%, 03/17/2029 246
250 Korea Development Bank............................ A-
7.125%, 04/22/2004 260
</Table>
The accompanying notes are an integral part of this financial statement.
38
- --------------------------------------------------------------------------------
<Table>
<Caption>
STANDARD
PRINCIPAL AND POOR'S MARKET
AMOUNT RATING VALUE(C)
- --------- ---------- ----------
CORPORATE BONDS: INVESTMENT GRADE -- (CONTINUED)
FINANCE -- (CONTINUED)
$ 5,000 Liberty Mutual Insurance.......................... A-
8.20%, 05/04/2007(f) $ 5,185
1,000 MBIA, Inc......................................... AA
7.00%, 12/15/2025 1,071
250 National City Corp................................ A-
6.875%, 05/15/2019 289
500 NBD Bancorp, Inc.................................. A-
7.125%, 05/15/2007 569
3,100 New England Mutual Life Insurance Co. ............ A+
7.875%, 02/15/2024(f) 3,610
7,000 Provident Companies, Inc.......................... BBB-
7.00%, 07/15/2018 6,650
2,000 Prudential Funding LLC............................ A2*
6.75%, 09/15/2023(f) 2,019
500 Prudential Insurance Company of America........... A+
6.375%, 07/23/2006(f) 548
500 ReliaStar Financial Corp.......................... A+
8.00%, 10/30/2006 575
250 Republic New York Capital I....................... A-
7.75%, 11/15/2026 279
500 Salomon Smith Barney Holdings, Inc. .............. AA-
5.875%, 03/15/2006 544
500 St. Paul Bancorp, Inc............................. BBB+
7.125%, 02/15/2004 518
4,000 St. Paul Companies, Inc........................... BBB+
5.75%, 03/15/2007 4,243
200 State Street Corp................................. A+
7.65%, 06/15/2010 243
500 Texaco Capital, Inc............................... AA
8.625%, 06/30/2010 633
500 Textron Financial Corp............................ A-
7.125%, 12/09/2004 530
3,000 Torchmark Corp.................................... A
8.25%, 08/15/2009 3,457
2,000 Toyota Motor Credit Corp.......................... AAA
5.50%, 12/15/2008 2,219
4,000 UnitedHealth Group, Inc........................... A
7.50%, 11/15/2005 4,503
250 Verizon Global Funding Corp....................... A+
7.25%, 12/01/2010 292
250 Verizon Global Funding Corp....................... A+
7.75%, 12/01/2030 309
3,000 Wachovia Corp..................................... A-
5.625%, 12/15/2008 3,342
4,000 Wells Fargo Bank N.A.............................. A+
6.45%, 02/01/2011 4,590
4,165 XL Capital Europe plc............................. A+
6.50%, 01/15/2012 4,547
----------
125,707
----------
HEALTH CARE -- 1.0%
$ 4,000 Becton, Dickinson & Co............................ A+
6.70%, 08/01/2028 $ 4,543
4,000 Bristol-Myers Squibb Co........................... AA
5.75%, 10/01/2011 4,344
4,000 Cardinal Health, Inc.............................. A
6.75%, 02/15/2011 4,657
3,000 Pharmacia Corp.................................... AAA
6.60%, 12/01/2028 3,552
4,000 Wyeth............................................. A
6.70%, 03/15/2011 4,593
----------
21,689
----------
SERVICES -- 1.6%
250 Clear Channel Communications, Inc. ............... BBB-
7.65%, 09/15/2010 293
7,000 Comcast Cable Communications, Inc. ............... BBB
6.875%, 06/15/2009+ 7,835
500 Comcast Cable Communications, Inc. ............... BBB
8.50%, 05/01/2027 637
500 Park Place Entertainment Corp..................... BBB-
8.50%, 11/15/2006 541
7,000 USA Networks, Inc................................. BBB-
6.75%, 11/15/2005 7,407
500 Viacom, Inc....................................... A-
7.625%, 01/15/2016 619
7,000 Viacom, Inc....................................... A-
7.70%, 07/30/2010+ 8,490
7,000 Walt Disney Co.................................... BBB+
6.375%, 03/01/2012 7,657
3,000 Washington Post Co................................ A+
5.50%, 02/15/2009 3,253
250 Waste Management, Inc............................. BBB
7.375%, 08/01/2010 291
----------
37,023
----------
TECHNOLOGY -- 1.1%
500 ALLTEL Corp....................................... A
6.80%, 05/01/2029 570
2,545 AT&T Corp......................................... BBB+
8.50%, 11/15/2031 2,834
1,000 Computer Associates International, Inc. .......... BBB+
6.50%, Ser B 04/15/2008 1,060
500 Cox Communications, Inc........................... BBB
6.40%, 08/01/2008 560
2,000 Danaher Corp...................................... A+
6.00%, 10/15/2008 2,226
250 GTE Corp.......................................... A+
7.51%, 04/01/2009 290
5,000 Hewlett-Packard Co................................ A-
7.15%, 06/15/2005 5,504
</Table>
The accompanying notes are an integral part of this financial statement.
39
THE HARTFORD ADVISERS FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
STANDARD
PRINCIPAL AND POOR'S MARKET
AMOUNT RATING VALUE(C)
- --------- ---------- ----------
CORPORATE BONDS: INVESTMENT GRADE -- (CONTINUED)
TECHNOLOGY -- (CONTINUED)
$ 250 Koninklijke KPN N.V. BBB
8.375%, 10/01/2030.............................. $ 316
500 Lockheed Martin Corp. BBB
7.65%, 05/01/2016............................... 623
1,000 New York Telephone Co. A+
6.00%, 04/15/2008............................... 1,107
400 Raytheon Co. BBB-
7.20%, 08/15/2027............................... 456
7,055 Sprint Capital Corp. BBB-
6.125%, 11/15/2008.............................. 7,196
250 Sprint Capital Corp. BBB-
6.875%, 11/15/2028.............................. 231
250 Sprint Capital Corp. BBB-
7.625%, 01/30/2011.............................. 269
250 Telecomunicaciones de Puerto Rico, Inc. BBB+
6.65%, 05/15/2006............................... 267
500 Telefonica Europe B.V. A
7.35%, 09/15/2005............................... 558
500 Time Warner, Inc. BBB+
6.875%, 06/15/2018.............................. 525
500 Vodafone Group plc A
7.875%, Ser B 02/15/2030........................ 642
----------
25,234
----------
TRANSPORTATION -- 0.4%
6,000 Burlington Northern Sante Fe. Corp. BBB+
7.875%, 04/15/2007 7,019
750 CSX Corp.......................................... BBB
7.90%, 05/01/2017 938
250 Norfolk Southern Corp............................. BBB
6.75%, 02/15/2011 286
----------
8,243
----------
UTILITIES -- 0.6%
4,000 Alabama Power Co.................................. A
7.125%, Ser K 08/15/2004 4,271
500 Alabama Power Co.................................. A
7.125%, Ser L 10/01/2007 578
255 Chilquinta Energia Finance Co..................... AAA
6.62%, 04/01/2011(f) 284
4,000 Duke Energy Corp.................................. A-
5.375%, Ser B 01/01/2009 4,244
500 Duke Energy Corp.................................. A-
6.00%, Ser A 12/01/2028 501
2,000 Kansas City Power & Light Co...................... BBB
7.125%, 12/15/2005 2,206
500 Madison Gas & Electric Co......................... AA-
6.02%, 09/15/2008 542
189 Niagara Mohawk Power Corp......................... A-
7.625%, Ser F 10/01/2005 211
1,150 Northern Border Pipeline, Inc..................... A-
7.75%, Ser A 09/01/2009 1,273
250 TransCanada Pipelines Ltd......................... A-
6.49%, 01/21/2009 274
----------
14,384
----------
Total corporate bonds: investment grade
(cost $344,100) $ 382,013
==========
MARKET
VALUE(C)
----------
U.S. GOVERNMENT SECURITIES -- 14.4%
FEDERAL NATIONAL MORTGAGE ASSOCIATION -- 0.0%
255 6.30% 2008........................................ $ 285
26 9.00% 2016 -- 2021................................ 29
----------
314
----------
GOVERNMENT NATIONAL MORTGAGE -- 2.9%
20,174 6.00% 2023 -- 2031................................ 21,120
17,560 6.50% 2026 -- 2029................................ 18,489
22,010 7.00% 2023 -- 2032................................ 23,372
3,299 8.00% 2029 -- 2031................................ 3,568
326 9.00% 2023........................................ 363
----------
66,912
----------
U.S. TREASURY SECURITIES -- 11.5%
20,000 2.125% 2004....................................... 20,243
100,000 6.00% 2004+....................................... 106,117
90,000 6.25% 2023........................................ 106,594
25,000 6.50% 2005+....................................... 27,740
----------
260,694
----------
Total U.S. government securities..................
(cost $313,865) $ 327,920
==========
Total long-term investments.......................
(cost $2,337,447) $2,201,687
==========
SHORT-TERM INVESTMENTS -- 5.7%
COLLATERAL FOR SECURITIES LENDING -- 3.0%
560 Evergreen Cash Management Money Market. Fund 560
66,736 Evergreen Institutional Money Market Fund......... 66,736
----------
67,296
----------
FINANCE -- 2.7%
62,717 Joint Repurchase Agreement,.......................
1.27%, 05/01/2003 (Note 2f) 62,717
----------
Total short-term investments......................
(cost $130,013) $ 130,013
==========
Total investments in securities...................
(cost $2,467,460)(b) $2,331,700
==========
</Table>
The accompanying notes are an integral part of this financial statement.
40
- --------------------------------------------------------------------------------
<Table>
STATEMENT OF ASSETS AND LIABILITIES:
ASSETS
Investments in securities, at value.............. $2,331,700
Cash............................................. 9
Receivables:
Investment securities sold..................... 18,155
Fund shares sold............................... 4,189
Dividends and interest......................... 12,146
Other assets..................................... 662
----------
Total assets..................................... 2,366,861
----------
LIABILITIES
Payables:
Payable upon return of securities loaned (Note
2)........................................... 67,296
Investment securities purchased................ 16,554
Fund shares redeemed........................... 3,468
Payable for investment advisory and management
fees (Note 3)................................ 1,176
Payable for distribution fees (Note 3)......... 258
Accrued expenses................................. 957
----------
Total liabilities................................ 89,709
----------
Net assets....................................... $2,277,152
==========
</Table>
<Table>
SUMMARY OF SHAREHOLDERS' EQUITY:
Capital stock, par value $0.001 per share;
460,000 shares authorized; 174,922 shares
outstanding.................................... $2,744,369
Accumulated undistributed net investment
income......................................... 2,305
Accumulated net realized loss on investments..... (333,762)
Unrealized depreciation of investments in
securities..................................... (135,760)
----------
Net assets....................................... $2,277,152
==========
</Table>
<Table>
Class A
Net asset value per share ($1,308,459 / 100,243
shares outstanding)........................... $13.05
======
Maximum offering price per share
($13.05 / 94.5%).............................. $13.81
======
Class B
Net asset value per share ($556,133 / 43,050
shares outstanding)........................... $12.92
======
Class C
Net asset value per share ($406,590 / 31,177
shares outstanding)........................... $13.04
------
Maximum offering price per share
($13.04 / 99.0%).............................. $13.17
======
Class Y
Net asset value per share ($5,970 / 452 shares
outstanding).................................. $13.21
======
</Table>
<Table>
(a) Presently non-income producing.
(b) At April 30, 2003, the cost of securities for federal income tax purposes
is $2,477,094 and the aggregate gross unrealized appreciation and
depreciation based on that cost was:
</Table>
<Table>
Unrealized appreciation....................... $ 84,878
Unrealized depreciation....................... (230,272)
---------
Net unrealized depreciation................... $(145,394)
=========
</Table>
<Table>
(c) See Note 2b of accompanying Notes to Financial Statements regarding
valuation of securities.
(d) 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 2.25% of total net assets as of April 30, 2003.
(e) Securities sold within the terms of a private placement memorandum,
exempt from registration under Section 144A of the Securities Act of
1933, as amended, and may be sold only to dealers in that program or to
other "accredited investors." This investment has been identified by
portfolio management as an illiquid security:
</Table>
<Table>
<Caption>
PERIOD
ACQUIRED SHARES/PAR SECURITY COST BASIS
-------- ---------- -------- ----------
1997 @@ Minorplanet Systems USA $5
(Warrants) -- 144A
</Table>
<Table>
The aggregate value of this security at April 30, 2003, was @@, which
represents .00% of total net assets
(f) Securities sold within the terms of a private placement memorandum,
exempt from registration under Section 144A of the Securities Act of
1933, as amended, and may be sold only to dealers in that program or to
other "accredited investors." Pursuant to guidelines adopted by the Board
of Directors, these issues are deemed to be liquid. The aggregate value
of these securities at April 30, 2003, was $21,501, which represents .94%
of total net assets.
+ Security is fully or partially on loan as of April 30, 2003. See Note 2d
of accompanying Notes to Financial Statements.
@@ Due to the presentation of the financial statements in thousands, the
number or shares and/or dollars round to zero.
* Moody's Rating
</Table>
The accompanying notes are an integral part of this financial statement.
41
THE HARTFORD CAPITAL APPRECIATION FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE(C)
- --------- ----------
COMMON STOCK -- 91.0%
BASIC MATERIALS -- 9.9%
639 3M Co. ........................................... $ 80,514
2,271 Agrium, Inc. ..................................... 25,686
595 Alcoa, Inc. ...................................... 13,648
991 Engelhard Corp. (with rights)..................... 24,324
1,000 Freeport-McMoRan Copper & Gold, Inc.. Class B
(with rights)+ 17,310
2,481 Gold Fields Ltd. ADR+............................. 25,184
497 Kimberly-Clark Corp. ............................. 24,751
866 Mining and Metallurgical Co. Norilsk Nickel ADR... 20,262
53 Potash Corp. of Saskatchewan+..................... 3,250
300 Rohm & Haas Co. (with rights)..................... 9,933
3,157 Sappi Ltd. ADR+................................... 38,994
3,781 Smurfit-Stone Container Corp. (with rights)(a)+ .. 53,204
----------
337,060
----------
CAPITAL GOODS -- 7.3%
2,472 AGCO Corp.(a)..................................... 45,021
7,648 Bombardier, Inc. ................................. 18,499
1,250 Deere & Co. (with rights)......................... 55,038
300 Northrop Grumman Corp. (with rights)+............. 26,385
170 Optical Switch Private Placement(e)............... @@
1,332 Pall Corp. (with rights).......................... 28,138
4,863 Tyco International Ltd. (with rights)+............ 75,864
----------
248,945
----------
CONSUMER CYCLICAL -- 5.7%
1,104 AutoNation, Inc.(a)+.............................. 15,295
1,226 Borders Group, Inc.(a)+........................... 19,608
274 Cheesecake Factory, Inc. (with rights)(a)......... 8,662
137 CSK Auto Corp.(a)................................. 1,404
1,700 Delphi Corp. ..................................... 14,280
2,854 Foster Wheeler Ltd.(a)+........................... 5,994
247 Gap, Inc. ........................................ 4,108
3,400 i2 Technologies, Inc. (with rights)(a)(e)+........ 1,190
1,324 McDonald's Corp. ................................. 22,637
889 Neiman Marcus Group, Inc. Class A(a).............. 28,499
3,523 OfficeMax, Inc. (with rights)(a).................. 19,903
2,404 Toyota Motor Corp. ............................... 54,419
----------
195,999
----------
CONSUMER STAPLES -- 1.3%
1,561 Bunge Ltd. ....................................... 43,712
----------
ENERGY -- 8.3%
1,000 Burlington Resources, Inc. (with rights).......... 46,310
1,288 China Petroleum & Chemical Corp. ADR.............. 25,596
3,035 Halliburton Co. (with rights)..................... 64,973
881 PetroChina Co. Ltd. ADR+.......................... 20,492
6,200 Sasol Ltd. ADR.................................... 68,448
1,183 Valero Energy Corp.+.............................. 43,468
800 XTO Energy, Inc. (with rights).................... 15,600
----------
284,887
----------
FINANCE AND INSURANCE -- 14.2%
3,409 ACE Ltd. ADR (with rights)........................ 112,776
1,155 American International Group, Inc. ............... 66,935
910 Bank One Corp. ................................... 32,806
1,283 Capital One Financial Corp.+...................... 53,707
2,617 Citigroup, Inc. .................................. 102,713
455 Countrywide Financial Corp.+...................... 30,744
684 Freddie Mac....................................... 39,586
600 Golden West Financial Corp. ...................... 45,252
----------
484,519
----------
HEALTH CARE -- 11.3%
1,762 Baxter International, Inc. (with rights).......... 40,521
900 Bright Horizons Family Solutions, Inc.(a)......... 27,027
865 Guidant Corp. .................................... 33,726
33 HCA, Inc. ........................................ 1,050
1,206 IVAX Corp.(a)..................................... 19,387
2,000 King Pharmaceuticals, Inc.(a)..................... 25,220
2,287 McKesson Corp. ................................... 63,433
387 Regeneron Pharmaceutical, Inc.(a)+................ 2,450
3,415 Schering-Plough Corp. (with rights)............... 61,811
2,099 Shionogi & Co. Ltd. .............................. 24,922
895 Teva Pharmaceutical Industries Ltd. ADR........... 41,806
1,510 Watson Pharmaceuticals, Inc.(a)+.................. 43,890
----------
385,243
----------
SERVICES -- 9.0%
1,418 Comcast Corp. Special Class A(a).................. 42,634
2,155 Computer Sciences Corp.(a)+....................... 71,004
1,882 Exel plc.......................................... 18,044
550 Manpower, Inc.+................................... 18,084
1,810 SAP AG ADR+....................................... 46,178
1,644 USA Interactive(a)+............................... 49,226
2,155 Waste Management, Inc. ........................... 46,815
1,006 Wynn Resorts Ltd.(a).............................. 16,998
----------
308,983
----------
TECHNOLOGY -- 20.7%
2,625 Agile Software Corp. (with rights)(a)............. 18,218
3,000 AOL Time Warner, Inc. (with rights)(a)............ 41,040
400 Dell Computer Corp. (with rights)(a).............. 11,564
326 Electronic Arts, Inc.(a).......................... 19,328
69 First Data Corp. ................................. 2,687
3,661 Flextronics International Ltd.(a)+................ 32,035
1,449 General Electric Co. ............................. 42,667
13,100 Interland, Inc.(a)(e)............................. 9,825
560 International Business Machines Corp. ............ 47,552
4,675 Liberty Media Corp. Class A(a)+................... 51,429
1,341 Microsoft Corp.+.................................. 34,284
</Table>
The accompanying notes are an integral part of this financial statement.
42
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE(C)
- --------- ----------
COMMON STOCK -- (CONTINUED)
TECHNOLOGY -- (CONTINUED)
11,349 Nextel Communications, Inc. Class A(a)+........... $ 167,852
21,169 Nortel Networks Corp.(a)+......................... 54,615
1,535 Pegasystems, Inc.(a).............................. 10,486
125 Sabre Holdings Corp.(a)........................... 2,622
275 Samsung Electronics Co. Ltd. ..................... 69,033
148 Sony Corp. ADR.................................... 3,652
6,285 Taiwan Semiconductor Manufacturing Co.. Ltd.(a) 8,618
289 Thermo Electron Corp. (with rights)(a)............ 5,257
2,328 Time Warner Telecom, Inc. Class A(a)+............. 8,382
2,932 VeriSign, Inc. (with rights)(a)................... 36,409
536 Verizon Communications, Inc. ..................... 20,017
1 Yahoo Japan Corp.(a).............................. 9,124
----------
706,696
----------
TRANSPORTATION -- 1.7%
1,061 CSX Corp. (with rights)........................... 33,937
650 Ryanair Holdings plc ADR(a)+...................... 25,786
----------
59,723
----------
UTILITIES -- 1.6%
550 FPL Group, Inc. (with rights)..................... 33,472
1,119 TXU Corp. (with rights)+.......................... 22,281
----------
55,753
----------
Total common stock (cost $3,148,074).............. $3,111,520
==========
PREFERRED STOCKS -- 0.7%
ENERGY -- 0.7%
1,338 Petroleo Brasileiro S.A. ADR...................... 22,895
----------
TECHNOLOGY -- 0.0%
1,205 SensAble Technologies, Inc. Class C Private
Placement(e).................................... 2,398
----------
Total preferred stocks (cost $24,597)............. $ 25,293
==========
</Table>
<Table>
<Caption>
STANDARD
PRINCIPAL AND POOR'S MARKET
AMOUNT RATING VALUE(C)
- --------- ----------- ----------
CORPORATE BONDS: NON-INVESTMENT GRADE -- 1.5%
TECHNOLOGY -- 1.5%
$ 29,700 Qwest Capital Funding, Inc.,
7.25%, 02/15/2011+ ............................. CCC+ $ 24,577
29,700 Qwest Capital Funding, Inc.,
7.90%, 08/15/2010 .............................. CCC+ 25,022
----------
49,599
----------
Total corporate bonds: non-investment grade (cost
$38,581)........................................ $ 49,599
----------
Total long-term investments (cost $3,211,252)..... $3,186,412
==========
SHORT-TERM INVESTMENTS -- 18.6%
COLLATERAL FOR SECURITIES LENDING -- 12.1%
97,658 Bear Stearns Agency Mortgage Repurchase
Agreement,
1.36%, 05/01/2003 (Note 2f)..................... 97,658
150,000 Dreyfus Cash Management (Note 2f)................. 150,000
15,000 Short Term Investments Co. Liquid Assets
Portfolio (Note 2f)............................. 15,000
150,000 Wells Fargo Cash Investment Fund Institutional
Class #451 (Note 2f)............................ 150,000
----------
412,658
----------
FINANCE -- 6.6%
224,296 Joint Repurchase Agreement,
1.27%, 05/01/2003 (Note 2f)..................... 224,296
----------
Total short-term investments (cost $636,954)...... $ 636,954
----------
Total investments in securities (cost $3,848,206). $3,823,366
==========
</Table>
The accompanying notes are an integral part of this financial statement.
43
THE HARTFORD CAPITAL APPRECIATION FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
STATEMENT OF ASSETS AND LIABILITIES:
ASSETS
Investments in securities, at value............... $3,823,366
Cash.............................................. @@
Foreign currency on deposit with custodian (cost
$499)........................................... 499
Unrealized appreciation in forward foreign.
currency contracts 48
Receivables:
Investment securities sold...................... 21,241
Fund shares sold................................ 6,720
Dividends and interest.......................... 4,047
Other assets...................................... 901
----------
Total assets...................................... 3,856,822
----------
LIABILITIES
Payables:
Payable upon return of securities loaned (Note
2)............................................ 412,658
Investment securities purchased................. 16,243
Fund shares redeemed............................ 4,099
Payable for investment advisory and management
fees (Note 3)................................. 1,817
Payable for distribution fees (Note 3).......... 405
Accrued expenses.................................. 1,350
----------
Total liabilities................................. 436,572
----------
Net assets........................................ $3,420,250
==========
SUMMARY OF SHAREHOLDERS' EQUITY:
Capital stock, par value $0.001 per share; 625,000
shares authorized; 166,154 shares outstanding..... $4,395,712
Accumulated undistributed net investment loss..... (8,077)
Accumulated net realized loss on investments and
foreign. currency transactions (942,553)
Unrealized depreciation of investments in
securities and. the translations of assets and
liabilities denominated in foreign currency (24,832)
----------
Net assets........................................ $3,420,250
==========
</Table>
<Table>
Class A
Net asset value per share ($1,747,542 / 82,665
shares outstanding)........................... $21.14
------
Maximum offering price per share
($21.14 / 94.5%).............................. $22.37
======
Class B
Net asset value per share ($892,612 / 44,640
shares outstanding)........................... $20.00
======
Class C
Net asset value per share ($747,777 / 37,378
shares outstanding)........................... $20.01
------
Maximum offering price per share
($20.01 / 99.0%).............................. $20.21
======
Class Y
Net asset value per share ($32,319 / 1,471
shares outstanding)........................... $21.98
======
</Table>
<Table>
(a) Presently non-income producing.
(b) At April 30, 2003, the cost of securities for federal income tax purposes
is $3,869,165 and the aggregate gross unrealized appreciation and
depreciation based on that cost was:
</Table>
<Table>
Unrealized appreciation.... $ 304,610
Unrealized depreciation.... (350,409)
---------
Net unrealized
depreciation............. $ (45,799)
=========
</Table>
<Table>
(c) See Note 2b of accompanying Notes of Financial Statements regarding
valuation of securities.
(d) 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 19.22% of total net assets as of April 30, 2003.
(e) Restricted securities held (excluding 144A). These investments have been
identified by portfolio management as illiquid securities:
</Table>
<Table>
<Caption>
PERIOD
ACQUIRED SHARES SECURITY COST BASIS
-------- ------- -------- ----------
2001 3,400 i2 Technologies $43,442
2002 13,100 Interland, Inc. 16,375
2000 170 Optical Switch Private
Placement 7,750
2000 1,205 SensAble Technologies,
Inc. Class C Private
Placement 4,000
</Table>
The aggregate value of these securities at April 30, 2003 is $13,413 which
represents 0.39% of net assets.
<Table>
+ Security is fully or partially on loan as of
April 30, 2003. See Note 2d of accompanying
Notes to Financial Statements.
@@ Due to the presentation of the financial
statements in thousands, the number or shares
and/or dollars round to zero.
</Table>
@@@FORWARD FOREIGN CURRENCY CONTRACTS OUTSTANDING AT APRIL 30, 2003
<Table>
<Caption>
CONTRACT DELIVERY UNREALIZED
DESCRIPTION MARKET VALUE AMOUNT DATE APPRECIATION
- ----------- ------------ -------- ---------- ------------
Japanese Yen
(Buy) $3,756 $3,708 05/01/2003 $48
Japanese Yen
(Buy) 10 10 05/02/2003 @@
Japanese Yen
(Buy) 104 104 05/06/2003 @@
---
$48
===
</Table>
The accompanying notes are an integral part of this financial statement.
44
THE HARTFORD DIVIDEND AND GROWTH FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE(C)
- --------- ----------
COMMON STOCK -- 93.8%
BASIC MATERIALS -- 10.1%
374 Abitibi-Consolidated, Inc. ....................... $ 2,618
144 Akzo Nobel N.V. ADR............................... 3,213
234 Alcan, Inc. ...................................... 6,868
960 Alcoa, Inc. ...................................... 22,013
121 Bowater, Inc. .................................... 4,703
338 Dow Chemical Co. ................................. 11,016
742 DuPont (E.I.) de Nemours & Co. ................... 31,543
313 Eastman Kodak Co. ................................ 9,353
268 Gillette Co. (with rights)........................ 8,145
318 Kimberly-Clark Corp. ............................. 15,822
423 Rohm & Haas Co. (with rights)..................... 14,015
230 Temple-Inland, Inc. (with rights)................. 10,410
----------
139,719
----------
CAPITAL GOODS -- 5.0%
495 Boeing Co. ....................................... 13,504
203 General Dynamics Corp. ........................... 12,581
505 Honeywell International, Inc. .................... 11,925
339 Parker-Hannifin Corp. (with rights)............... 13,799
433 Pitney Bowes, Inc. (with rights).................. 15,192
144 Tyco International Ltd. (with rights)............. 2,248
----------
69,249
----------
CONSUMER CYCLICAL -- 4.7%
225 Avery Dennison Corp. (with rights)................ 11,901
423 Caterpillar, Inc. (with rights)................... 22,234
277 DaimlerChrysler AG+............................... 8,978
1,013 McDonald's Corp. ................................. 17,315
336 Safeway, Inc.(a).................................. 5,591
----------
66,019
----------
CONSUMER STAPLES -- 7.1%
383 Altria Group, Inc. ............................... 11,784
627 EnCana Corp. ..................................... 20,621
338 General Mills, Inc. .............................. 15,265
146 Kraft Foods, Inc. Class A......................... 4,524
302 PepsiCo, Inc. .................................... 13,058
693 Sara Lee Corp. (with rights)...................... 11,620
452 Weyerhaeuser Co. ................................. 22,425
----------
99,297
----------
ENERGY -- 10.1%
329 BP plc ADR........................................ 12,672
264 Chevron Texaco Corp. (with rights)................ 16,569
203 ConocoPhillips (with rights)...................... 10,215
1,101 Exxon Mobil Corp. ................................ 38,770
300 Halliburton Co. (with rights)..................... 6,419
286 Progress Energy, Inc. ............................ 11,941
440 Royal Dutch Petroleum Co. NY Shares............... 17,971
258 Schlumberger Ltd. ................................ 10,831
229 Total Fina Elf S.A. ADR........................... 15,065
----------
140,453
----------
FINANCE AND INSURANCE -- 17.7%
177 ACE Ltd. ADR (with rights)........................ 5,849
344 American International Group, Inc. ............... 19,923
355 Bank One Corp. ................................... 12,787
93 CIGNA Corp. (with rights)......................... 4,885
1,021 Citigroup, Inc. .................................. 40,062
358 Franklin Resources, Inc. ......................... 12,480
257 Freddie Mac....................................... 14,898
160 HSBC Holdings plc+................................ 8,748
104 Kimco Realty Corp. ............................... 3,779
361 MBIA, Inc. ....................................... 16,117
395 Merrill Lynch & Co., Inc. ........................ 16,223
190 Morgan Stanley Dean Witter & Co. (with rights).... 8,507
214 PNC Financial Services Group, Inc. (with rights).. 9,395
259 St. Paul Companies, Inc. ......................... 8,877
545 Synovus Financial Corp. (with rights)............. 10,613
593 U.S. Bancorp (with rights)........................ 13,142
509 Wachovia Corp. (with rights)...................... 19,453
242 XL Capital Ltd. Class A (with rights)............. 19,949
----------
245,687
----------
HEALTH CARE -- 9.1%
572 Abbott Laboratories (with rights)................. 23,257
357 AstraZeneca plc ADR............................... 14,245
124 Aventis S.A. ADR+................................. 6,242
587 Baxter International, Inc. (with rights).......... 13,492
178 Becton, Dickinson & Co. (with rights)............. 6,291
144 Guidant Corp. .................................... 5,630
272 McKesson Corp. ................................... 7,554
265 Monsanto Co. ..................................... 4,619
658 Pfizer, Inc. (with rights)........................ 20,241
1,384 Schering-Plough Corp. (with rights)............... 25,052
----------
126,623
----------
SERVICES -- 7.7%
257 Automatic Data Processing, Inc. .................. 8,626
294 Comcast Corp. Class A(a).......................... 9,386
313 Comcast Corp. Special Class A(a).................. 9,400
388 Computer Sciences Corp.(a)........................ 12,794
230 FedEx Corp. ...................................... 13,778
216 Gannett Co., Inc. (with rights)................... 16,325
262 Harrah's Entertainment, Inc. (with rights)(a)..... 10,316
170 Omnicom Group, Inc. .............................. 10,542
755 Waste Management, Inc. ........................... 16,397
----------
107,564
----------
TECHNOLOGY -- 12.3%
500 Alcatel S.A. ADR+................................. 4,032
842 AOL Time Warner, Inc. (with rights)(a)............ 11,517
534 Apple Computer, Inc.(a)........................... 7,581
552 AT&T Corp. ....................................... 9,410
798 BellSouth Corp. (with rights)..................... 20,328
205 Emerson Electric Co. (with rights)................ 10,399
208 General Electric Co. ............................. 6,134
934 Hewlett-Packard Co. .............................. 15,221
460 Intel Corp. ...................................... 8,455
361 International Business Machines Corp. ............ 30,657
266 Microsoft Corp. .................................. 6,791
</Table>
The accompanying notes are an integral part of this financial statement.
45
THE HARTFORD DIVIDEND AND GROWTH FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE(C)
- --------- ----------
COMMON STOCK -- (CONTINUED)
TECHNOLOGY -- (CONTINUED)
984 Motorola, Inc. (with rights)...................... $ 7,782
877 Verizon Communications, Inc. ..................... 32,799
----------
171,106
----------
TRANSPORTATION -- 4.3%
366 Canadian Pacific Railway Ltd. ADR................. 8,470
534 CSX Corp. (with rights)........................... 17,084
457 Delta Air Lines, Inc. (with rights)+.............. 5,842
425 Union Pacific Corp. .............................. 25,302
104 USFreightways Corp. .............................. 2,971
----------
59,669
----------
UTILITIES -- 5.7%
110 Dominion Resources, Inc. ......................... 6,513
261 Duke Energy Corp. (with rights)................... 4,593
412 Exelon Corp. ..................................... 21,860
435 FirstEnergy Corp. (with rights)................... 14,666
294 FPL Group, Inc. (with rights)..................... 17,896
392 Pinnacle West Capital Corp. (with rights)......... 13,015
----------
78,543
----------
Total common stock
(cost $1,412,392)............................... $1,303,929
==========
<Caption>
PRINCIPAL
AMOUNT
- ---------
SHORT-TERM INVESTMENTS -- 7.1%
COLLATERAL FOR SECURITIES LENDING -- 1.1%
$15,589 Boston Global Investment Trust (Note 2d).......... 15,589
----------
FINANCE -- 6.0%
83,428 Joint Repurchase Agreement,
1.27%, 05/01/2003 (Note 2f)..................... 83,428
----------
Total short-term investments (cost $99,017)....... $ 99,017
==========
Total investments in securities
(cost $1,511,409)(b)............................ $1,402,946
==========
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE(C)
- --------- ----------
STATEMENT OF ASSETS AND LIABILITIES:
ASSETS
Investments in securities, at value........................... $1,402,946
Receivables:
Investment securities sold.................................. 1,532
Fund shares sold............................................ 4,940
Dividends and interest...................................... 2,807
Other assets.................................................. 373
----------
Total assets.................................................. 1,412,598
----------
LIABILITIES
Payables:
Payable upon return of securities loaned (Note
2)........................................................ 15,589
Investment securities purchased............................. 3,543
Fund shares redeemed........................................ 1,490
Payable for investment advisory and management
fees (Note 3)............................................. 736
Payable for distribution fees (Note 3)...................... 129
Accrued expenses.............................................. 442
----------
Total liabilities............................................. 21,929
----------
Net assets.................................................... $1,390,669
==========
</Table>
<Table>
SUMMARY OF SHAREHOLDERS' EQUITY:
Capital stock, par value $0.001 per share; 500,000
shares authorized; 99,711 shares outstanding................ $1,561,816
Accumulated undistributed net investment income............... 1,055
Accumulated net realized loss on investments.................. (63,739)
Unrealized depreciation of investments in
securities.................................................. (108,463)
----------
Net assets.................................................... $1,390,669
==========
</Table>
<Table>
Class A
Net asset value per share ($976,132 / 69,749 shares
outstanding).............................................. $13.99
------
Maximum offering price per share ($13.99 / 94.5%)........... $14.80
======
Class B
Net asset value per share ($205,360 / 14,849 shares
outstanding).............................................. $13.83
======
Class C
Net asset value per share ($184,904 / 13,398 shares
outstanding).............................................. $13.80
------
Maximum offering price per share ($13.80 / 99.0%)........... $13.94
======
Class Y
Net asset value per share ($24,273 / 1,715 shares
outstanding)............................................... $14.15
======
</Table>
<Table>
(a) Presently non-income producing.
(b) At April 30, 2003, the cost of securities for federal income tax purposes
is $1,518,767 and the aggregate gross unrealized appreciation and
depreciation based on that cost was:
</Table>
<Table>
Unrealized appreciation.................................................. $ 44,657
Unrealized depreciation.................................................. (160,478)
---------
Net unrealized depreciation.............................................. $(115,821)
=========
</Table>
<Table>
(c) See Note 2b of accompanying Notes to Financial Statements regarding
valuation of securities.
(d) 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 9.33% of total net assets as of April 30, 2003.
+ Security is fully or partially on loan as of April 30, 2003. See Note 2d
of accompanying Notes to Financial Statements.
@@ Due to the presentation of the financial statements in thousands, the
number or shares and/or dollars round to zero.
</Table>
The accompanying notes are an integral part of this financial statement.
46
THE HARTFORD FOCUS FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2003(UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE(C)
- --------- --------
COMMON STOCK -- 98.6%
BASIC MATERIALS -- 2.5%
116 Alcoa, Inc. ...................................... $ 2,662
--------
CAPITAL GOODS -- 2.8%
34 Northrop Grumman Corp. (with rights).............. 3,017
--------
CONSUMER CYCLICAL -- 5.4%
226 Gap, Inc. ........................................ 3,760
117 Safeway, Inc.(a).................................. 1,948
--------
5,708
--------
CONSUMER STAPLES -- 8.0%
65 Coca-Cola Co. .................................... 2,634
161 Pepsi Bottling Group, Inc. ....................... 3,307
53 Weyerhaeuser Co. ................................. 2,628
--------
8,569
--------
ENERGY -- 5.1%
44 Chevron Texaco Corp. (with rights)................ 2,776
125 Halliburton Co. (with rights)..................... 2,676
--------
5,452
--------
FINANCE AND INSURANCE -- 20.4%
78 American International Group, Inc. ............... 4,526
35 Bank of America Corp. ............................ 2,614
132 Citigroup, Inc. .................................. 5,177
66 Merrill Lynch & Co., Inc. ........................ 2,718
90 State Street Corp. (with rights).................. 3,153
219 Travelers Property Casualty Corp. Class B......... 3,550
--------
21,738
--------
HEALTH CARE -- 16.6%
79 Abbott Laboratories (with rights)................. 3,206
75 Genzyme Corp. -- General Division(a).............. 3,013
113 HCA, Inc. ........................................ 3,611
99 IDEC Pharmaceuticals Corp.(a)..................... 3,229
150 Pfizer, Inc. (with rights)........................ 4,613
--------
17,672
--------
SERVICES -- 9.0%
107 Comcast Corp. Class A(a).......................... 3,403
110 Computer Sciences Corp.(a)........................ 3,625
44 FedEx Corp. ...................................... 2,623
--------
9,651
--------
TECHNOLOGY -- 28.8%
327 AOL Time Warner, Inc. (with rights)(a)............ 4,469
151 Cisco Systems, Inc. (with rights)(a).............. 2,269
180 General Electric Co. ............................. 5,301
228 Hewlett-Packard Co. .............................. 3,718
189 Intel Corp. ...................................... 3,472
43 International Business Machines Corp. ............ 3,651
55 Lockheed Martin Corp. ............................ 2,753
198 Microsoft Corp. .................................. 5,058
--------
30,691
--------
Total common stock (cost $111,516)................ $105,160
========
<Caption>
PRINCIPAL
AMOUNT
- ---------
SHORT-TERM INVESTMENTS -- 2.8%
FINANCE -- 2.8%
$2,959 Joint Repurchase Agreement,
1.27%, 05/01/2003 (Note 2f)..................... 2,959
--------
Total short-term investments (cost $2,959)........ $ 2,959
========
Total investments in securities
(cost $114,475)(b).............................. $108,119
========
</Table>
<Table>
STATEMENT OF ASSETS AND LIABILITIES:
ASSETS
Investments in securities, at value........................... $108,119
Receivables:
Investment securities sold.................................. 10,752
Fund shares sold............................................ 118
Dividends and interest...................................... 110
Other assets.................................................. 50
--------
Total assets.................................................. 119,149
--------
LIABILITIES
Payables:
Investment securities purchased............................. 12,253
Fund shares redeemed........................................ 89
Payable for investment advisory and management
fees (Note 3)............................................ 85
Payable for distribution fees (Note 3)...................... 12
Accrued expenses.............................................. 58
--------
Total liabilities............................................. 12,497
--------
Net assets.................................................... $106,652
========
</Table>
The accompanying notes are an integral part of this financial statement.
47
THE HARTFORD FOCUS FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
SUMMARY OF SHAREHOLDERS' EQUITY:
Capital stock, par value $0.001 per share; 300,000
shares authorized; 14,017 shares outstanding...... $144,936
Accumulated undistributed net investment loss....... (215)
Accumulated net realized loss on investments........ (31,713)
Unrealized depreciation of investments in
securities........................................ (6,356)
--------
Net assets.......................................... $106,652
========
</Table>
<Table>
Class A
Net asset value per share ($63,371 / 8,282 shares
outstanding)....................................... $7.65
-----
Maximum offering price per share ($7.65 / 94.5%)..... $8.10
=====
Class B
Net asset value per share ($18,649 / 2,471 shares
outstanding)....................................... $7.55
=====
Class C
Net asset value per share ($23,998 / 3,182 shares
outstanding)....................................... $7.54
-----
Maximum offering price per share ($7.54 / 99.0%)..... $7.62
=====
Class Y
Net asset value per share ($634 / 82 shares
outstanding)....................................... $7.72
=====
</Table>
<Table>
(a) Presently non-income producing.
(b) At April 30, 2003, the cost of securities for federal income tax purposes
is $116,119 and the aggregate gross unrealized appreciation and
depreciation based on that cost was:
</Table>
<Table>
Unrealized appreciation........................ $ 3,778
Unrealized depreciation........................ (11,778)
--------
Net unrealized depreciation.................... $ (8,000)
========
</Table>
<Table>
(c) See Note 2b of accompanying Notes to Financial Statements regarding
valuation of securities.
(d) Note: Percentage of investments as shown is the ratio of the total market
value to total net assets.
@@ Due to the presentation of the financial statements in thousands, the
number or shares and/or dollars round to zero.
</Table>
The accompanying notes are an integral part of this financial statement.
48
THE HARTFORD GLOBAL COMMUNICATIONS FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE(C)
- --------- --------
COMMON STOCK -- 89.9%
OTHER TELECOMMUNICATIONS -- 26.1%
19 AT&T Corp.+.................................................... $ 326
13 China Telecom Corp. Ltd. ADR................................... 255
7 France Telecom S.A.(e)......................................... 168
6 France Telecom S.A............................................. 143
1 SBC Communications, Inc.+...................................... 23
17 Sprint Corp. (with rights)+.................................... 198
53 Telekom Austria AG(a)(e)....................................... 548
4 Telkom South Africa Ltd. ADR(a)+............................... 77
-------
1,738
-------
TELECOMMUNICATION RESELLERS -- 9.3%
57 Citizens Communications Co. (with rights)(a)+.................. 618
WIRED TELECOMMUNICATIONS CARRIERS -- 21.6%
93 BT Group plc................................................... 266
23 Deutsche Telekom AG............................................ 306
46 Koninklijke (Royal) KPN N.V.(a)................................ 303
@@ Nippon Telegraph & Telephone Corp. ............................ 228
68 Telecom Italia S.p.A.+......................................... 333
-------
1,436
-------
WIRELESS TELECOMMUNICATIONS CARRIERS -- 32.9%
30 Cable & Wireless plc........................................... 36
10 Mobistar S.A.(a)(e)............................................ 323
33 Nextel Communications, Inc. Class A(a)+........................ 487
57 Nextel Partners, Inc. Class A(a)+.............................. 331
69 Qwest Communications International, Inc.(a).................... 260
6 Verizon Communications, Inc.+.................................. 221
267 Vodafone Group plc............................................. 527
-------
2,185
-------
Total common stock (cost $5,289)............................... $ 5,977
=======
</Table>
<Table>
<Caption>
STANDARD
PRINCIPAL AND POOR'S
AMOUNT RATING
- --------- ----------
CORPORATE BONDS: NON-INVESTMENT GRADE -- 5.0%
TELECOMMUNICATIONS -- OTHER -- 5.0%
$ 400 Qwest Capital Funding, Inc.
7.25%, 02/15/2011....................... CCC+ $ 331
-------
Total corporate bonds: non-investment grade
(cost $242)..................................... $ 331
=======
Total long-term investments (cost $5,531)......... $ 6,308
=======
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE(C)
- --------- --------
SHORT-TERM INVESTMENTS -- 30.2%
BANKING -- 4.7%
$ 313 Joint Repurchase Agreement,
1.27%, 05/01/2003 (Note 2f)................................. $ 313
-------
COLLATERAL FOR SECURITIES LENDING -- 25.5%
1,693 Navigator Prime Portfolio..................................... 1,693
-------
Total short-term investments (cost $2,006).................... $ 2,006
=======
Total investments in securities (cost $7,537)(b).............. $ 8,314
=======
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE(C)
- --------- --------
STATEMENT OF ASSETS AND LIABILITIES:
ASSETS
Investments in securities, at value.................. $ 8,314
Cash................................................. @@
Foreign currency on deposit with custodian (cost
$@@)............................................... @@
Receivables:
Investment securities sold......................... 22
Fund shares sold................................... 10
Dividends and interest............................. 13
Other assets......................................... 7
-------
Total assets......................................... 8,366
-------
LIABILITIES
Unrealized depreciation on forward foreign currency
contracts.......................................... @@
Payables:
Payable upon return of securities loaned (Note
2)............................................... 1,693
Investment securities purchased.................... 15
Fund shares redeemed............................... @@
Payable for investment advisory and management
fees (Note 3).................................... 5
Payable for distribution fees (Note 3)............. 1
Accrued expenses..................................... 1
-------
Total liabilities.................................... 1,715
-------
Net assets........................................... $ 6,651
=======
SUMMARY OF SHAREHOLDERS' EQUITY:
Capital stock, par value $0.001 per share; 300,000
shares authorized; 1,864 shares outstanding........ $14,092
Accumulated undistributed net investment loss........ (4)
Accumulated net realized loss on investments and
foreign currency transactions...................... (8,214)
Unrealized appreciation of investments in securities
and the translations of assets and liabilities
denominated in foreign currency.................... 777
-------
Net assets........................................... $ 6,651
=======
</Table>
The accompanying notes are an integral part of this financial statement.
49
THE HARTFORD GLOBAL COMMUNICATIONS FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
Class A
Net asset value per share ($4,277 / 1,194 shares
outstanding)................................... $3.58
-----
Maximum offering price per share
($3.58 / 94.5%)................................ $3.79
=====
Class B
Net asset value per share ($959 / 272 shares
outstanding)................................... $3.52
=====
Class C
Net asset value per share ($859 / 244 shares
outstanding)................................... $3.52
-----
Maximum offering price per share
($3.52 / 99.0%)................................ $3.56
=====
Class Y
Net asset value per share ($556 / 154 shares
outstanding)................................... $3.62
=====
</Table>
<Table>
(a) Presently non-income producing.
(b) At April 30, 2003, the cost of securities for federal income tax purposes
was $7,807 and the aggregate gross unrealized appreciation and
depreciation based on that cost was:
</Table>
<Table>
Unrealized appreciation.........................$ 749
Unrealized depreciation......................... (242)
Net unrealized appreciation.....................$ 507
=====
</Table>
<Table>
(c) See Note 2b of accompanying Notes to Financial Statements regarding
valuation of securities.
(d) Note: Percentage of investments as shown is the ratio of the total market
value to total net assets.
(e) Securities issued within terms of a private placement memorandum, exempt
from registration under Section 144A of the Securities Act of 1933, as
amended, and may be sold only to dealers in that program or to other
"accredited investors". 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, 2003, was $1,039, which represents
15.62% of total net assets.
+ Security is fully or partially on loan as of April 30, 2003. See Note 2d
of accompanying Notes to Financial Statements.
@@ Due to the presentation of the financial statements in thousands, the
number of shares and/or dollars round to zero.
</Table>
FORWARD FOREIGN CURRENCY CONTRACTS OUTSTANDING AT APRIL 30, 2003
<Table>
<Caption>
UNREALIZED
CONTRACT DELIVERY APPRECIATION
DESCRIPTION MARKET VALUE AMOUNT DATE (DEPRECIATION)
- ----------- ------------ -------- ---------- --------------
Euro (Sell) $15 $15 05/05/2003 $@@
==
</Table>
<Table>
<Caption>
PERCENTAGE OF
DIVERSIFICATION BY COUNTRY NET ASSETS
- -------------------------- -------------
United States 42.0%
United Kingdom 12.5%
Austria 8.2%
Cash
Equivalents/Receivables 5.1%
Italy 5.0%
Belgium 4.9%
France 4.7%
Netherlands 4.6%
Germany 4.6%
China 3.8%
Japan 3.4%
South Africa 1.2%
-----
Total 100.0%
=====
</Table>
The accompanying notes are an integral part of this financial statement.
50
THE HARTFORD GLOBAL FINANCIAL SERVICES FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2003(UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE(C)
- --------- ----------
COMMON STOCK -- 94.7%
AGENCIES, BROKERAGES, OTHER INSURANCE
ACTIVITIES -- 6.3%
28 Clark/Bardes, Inc.(a)............................. $ 330
15 Marsh & McLennan Companies, Inc. (with rights).... 715
----------
1,045
----------
COMMERCIAL BANKING -- 9.7%
247 UniCredito Italiano S.p.A.+....................... 1,081
53 Westpac Banking Corp Ltd. ........................ 523
----------
1,604
----------
CONSUMER LENDING -- 2.0%
10 Promise Co. Ltd. ................................. 324
----------
DEPOSITORY CREDIT BANKING -- 25.3%
11 Bank of Bermuda Ltd. ............................. 379
14 Bank of Hawaii Corp. ............................. 461
13 Bank One Corp. ................................... 476
2 Canadian Western Bank............................. 45
21 Citigroup, Inc. .................................. 820
4 Golden West Financial Corp. ...................... 294
19 Hibernia Corp. Class A............................ 351
53 HSBC Holdings plc................................. 578
17 KeyCorp........................................... 410
14 People's Bank..................................... 379
----------
4,193
----------
INSURANCE CARRIERS -- 21.1%
21 ACE Ltd. ADR (with rights)........................ 688
17 Aegon N.V. ....................................... 172
9 Ambac Financial Group, Inc. ...................... 537
12 American International Group, Inc. ............... 672
18 Cincinnati Financial Corp. ....................... 663
8 MBIA, Inc. ....................................... 367
14 Reinsurance Group of America, Inc.+............... 390
----------
3,489
----------
INTERNATIONAL TRADE FINANCING (FOREIGN
BANKS) -- 11.5%
20 ABN AMRO Holding N.V. ............................ 338
60 Royal Bank of Scotland Group plc.................. 1,566
----------
1,904
----------
MONETARY AUTHORITIES -- CENTRAL BANK -- 4.3%
43 HBOS plc.......................................... 505
@@ Mitsubishi Tokyo Financial Group, Inc. ........... 210
----------
715
----------
NONDEPOSITORY CREDIT BANKING -- 4.0%
11 Banco Latinoamericano de Exportaciones S.A.. ADR
Class E(a) 98
4 Fannie Mae........................................ 311
4 Freddie Mac....................................... 255
----------
664
----------
SECURITIES, COMMODITIES AND BROKERAGE -- 10.5%
6 Goldman Sachs Group, Inc. ........................ 471
14 Investment Technology Group, Inc. (with
rights)(a)...................................... 199
5 Lehman Brothers Holdings, Inc. ................... 327
12 Merrill Lynch & Co., Inc. ........................ 509
5 Morgan Stanley Dean Witter & Co. (with rights).... 237
----------
1,743
----------
Total common stock................................
(cost $17,099) $ 15,681
==========
<Caption>
PRINCIPAL
AMOUNT
- ---------
SHORT-TERM INVESTMENTS -- 5.0%
BANKING -- 4.2%
$ 702 Joint Repurchase Agreement,.......................
1.27%, 05/01/2003 (Note 2f) $ 702
----------
COLLATERAL FOR SECURITIES LENDING -- 0.8%
127 Navigator Prime Portfolio(e)...................... 127
----------
Total short-term investments......................
(cost $829) $ 829
==========
Total investments in securities...................
(cost $17,928)(b) $ 16,510
==========
STATEMENT OF ASSETS AND LIABILITIES:
ASSETS
Investments in securities, at value.............................. $16,510
Receivables:
Investment securities sold..................................... 51
Fund shares sold............................................... 25
Dividends and interest......................................... 110
Other assets..................................................... 15
-------
Total assets..................................................... 16,711
-------
LIABILITIES
Payables:
Payable upon return of securities loaned (Note
2)........................................................... 127
Investment securities purchased................................ 6
Fund shares redeemed........................................... 1
Payable for investment advisory and management
fees (Note 3)................................................ 13
Payable for distribution fees (Note 3)......................... 2
Accrued expenses................................................. 10
-------
Total liabilities................................................ 159
-------
Net assets....................................................... $16,552
=======
</Table>
The accompanying notes are an integral part of this financial statement.
51
THE HARTFORD GLOBAL FINANCIAL SERVICES FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
SUMMARY OF SHAREHOLDERS' EQUITY:
Capital stock, par value $0.001 per share; 300,000 shares.
authorized; 2,044 shares outstanding...................... $20,475
Accumulated undistributed net investment income............. 58
Accumulated net realized loss on investments................ (2,563)
Unrealized depreciation of investments in securities and
the translations of assets and liabilities denominated in
foreign currency.......................................... (1,418)
-------
Net assets.................................................. $16,552
=======
</Table>
<Table>
Class A
Net asset value per share ($9,872 / 1,214 shares
outstanding).................................. $8.13
-----
Maximum offering price per
share($8.13 / 94.5%).......................... $8.60
=====
Class B
Net asset value per share ($2,806 / 350 shares
outstanding).................................. $8.02
=====
Class C
Net asset value per share ($2,485 / 310 shares
outstanding).................................. $8.03
-----
Maximum offering price per share
($8.03 / 99.0%)............................... $8.11
=====
Class Y
Net asset value per share ($1,389 / 170 shares
outstanding).................................. $8.18
=====
</Table>
<Table>
(a) Presently non-income producing.
(b) At April 30, 2003, the cost of securities for federal
income tax purposes is $18,055 and the aggregate gross
unrealized appreciation and depreciation based on that
cost was:
</Table>
<Table>
Unrealized appreciation.......................... $ 526
Unrealized depreciation.......................... (2,071)
-------
Net unrealized depreciation...................... $(1,545)
=======
</Table>
<Table>
(c) See Note 2b of accompanying Notes to Financial Statements
regarding valuation of securities.
(d) Note: Percentage of investments as shown is the ratio of
the total market value to total net assets.
(e) Security lending collateral.
+ Security is fully or partially on loan as of April 30,
2003. See Note 2d of accompanying Notes to Financial
Statements.
@@ Due to the presentation of the financial statements in
thousands, the number of shares and/or dollars round to
zero.
</Table>
@@@FORWARD FOREIGN CURRENCY CONTRACTS OUTSTANDING AT APRIL 30, 2003
<Table>
<Caption>
UNREALIZED
CONTRACT DELIVERY APPRECIATION
DESCRIPTION MARKET VALUE AMOUNT DATE (DEPRECIATION)
- ----------- ------------ -------- ---------- --------------
Euro (Sell) $51 $51 05/06/2003 $@@
</Table>
<Table>
<Caption>
PERCENTAGE OF
DIVERSIFICATION BY COUNTRY NET ASSETS
- -------------------------- -------------
United States 59.6%
United Kingdom 16.0%
Italy 6.5%
Cash Equivalents/Receivables 5.2%
Japan 3.2%
Australia 3.2%
Netherlands 3.1%
Bermuda 2.3%
Panama 0.6%
Canada 0.3%
------
Total 100.0%
======
</Table>
The accompanying notes are an integral part of this financial statement.
52
THE HARTFORD GLOBAL HEALTH FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE(C)
- --------- --------
COMMON STOCK -- 98.7%
BASIC CHEMICAL MANUFACTURING -- 0.8%
80 Bayer AG+......................................... $ 1,463
--------
COMPUTER SYSTEMS DESIGN & RELATED SERVICES -- 0.6%
59 Cerner Corp.(a)+.................................. 1,171
--------
DRUGS & DRUGGISTS SUNDRIES WHOLESALERS -- 4.9%
48 Cardinal Health, Inc. ............................ 2,676
239 McKesson Corp. ................................... 6,619
--------
9,295
--------
DRUGS AND DRUGGISTS' SUNDRIES MERCHANT -- 2.6%
9 Serono S.A. Class B+.............................. 4,893
--------
ELECTROMEDICAL MANUFACTURING -- 3.2%
157 Guidant Corp. .................................... 6,110
--------
INSURANCE CARRIERS -- 2.0%
20 Aetna, Inc. ...................................... 976
42 Anthem, Inc.(a)................................... 2,890
--------
3,866
--------
MEDICAL AND DIAGNOSTIC LABORATORIES -- 1.8%
113 Laboratory Corp. of America Holdings (with
rights)(a)...................................... 3,329
--------
MEDICAL EQUIPMENT & SUPPLIES MANUFACTURING -- 7.6%
160 Baxter International, Inc. (with rights).......... 3,680
90 Becton, Dickinson & Co. (with rights)............. 3,179
627 Gambro AB Class B+................................ 3,542
36 St. Jude Medical, Inc. (with rights)(a)........... 1,862
137 Viasys Healthcare, Inc. (with rights)(a).......... 2,220
--------
14,483
--------
NAVIGATE, MEASURE, CONTROL INSTRUMENTS -- 2.3%
110 Beckman Coulter, Inc. (with rights)............... 4,276
--------
OFFICES OF PHYSICIANS -- 0.5%
50 Caremark Rx, Inc.(a).............................. 1,003
--------
OTHER CHEMICAL AND PREPARATION -- 0.5%
58 Connetics Corp.(a)................................ 983
--------
OUTPATIENT CARE CENTERS -- 2.5%
117 Coventry Health Care, Inc. (with rights)(a)....... 4,780
--------
PHARMACEUTICAL & MEDICINE MANUFACTURING -- 51.6%
306 Abbott Laboratories (with rights)................. 12,417
209 Abgenix, Inc. (with rights)(a)+................... 1,984
260 Amylin Pharmaceuticals, Inc.(a)+.................. 4,979
265 AstraZeneca plc ADR............................... 10,554
112 AtheroGenics, Inc. (with rights)(a)+.............. 1,020
154 Aventis S.A. ADR.................................. 7,727
74 Cephalon, Inc.(a)+................................ 3,018
168 Chugai Pharmaceutical Co. Ltd. ................... 1,765
168 Eisai Co. Ltd.+ .................................. 2,965
50 Forest Laboratories, Inc. (with rights)(a)........ 2,581
183 Fujisawa Pharmaceutical Co. Ltd.+................. 3,100
16 Fujisawa Pharmaceutical Co. Ltd.(e)............... 271
88 ILEX Oncology, Inc. (with rights)(a)+............. 1,178
70 King Pharmaceuticals, Inc.(a)..................... 880
117 Lilly (Eli) & Co. (with rights)................... 7,480
51 Novartis AG....................................... 2,003
32 OSI Pharmaceuticals, Inc. (with rights)(a)+....... 680
314 Pfizer, Inc. (with rights)........................ 9,665
94 SangStat Medical Corp.(a)+........................ 1,189
538 Schering-Plough Corp. (with rights)............... 9,741
281 Shionogi & Co. Ltd.+.............................. 3,336
94 Vertex Pharmaceuticals, Inc.(a)................... 1,131
102 Watson Pharmaceuticals, Inc.(a)................... 2,962
131 Wyeth (with rights)............................... 5,715
--------
98,341
--------
PROFESSIONAL, SCIENTIFIC, AND TECHNICAL
SERVICES -- 1.9%
26 Dendrite International, Inc.(a)+.................. 267
402 Exelixis, Inc.(a)+................................ 3,422
--------
3,689
--------
SCIENTIFIC RESEARCH & DEVELOPMENT SERVICES --15.9%
236 Applera Corp. -- Celera Genomics Group(a)......... 2,479
210 Ciphergen Biosystems, Inc.(a)..................... 1,025
134 CV Therapeutics, Inc. (with rights)(a)+........... 2,677
377 Elan Corp. plc ADR(a)+............................ 1,274
200 Genzyme Corp. -- General Division(a).............. 8,064
41 Gilead Sciences, Inc.(a).......................... 1,883
159 Human Genome Sciences, Inc. (with. rights)(a)+.... 1,859
55 IDEC Pharmaceuticals Corp.(a)+.................... 1,785
137 Medicines Co.(a)+................................. 2,817
114 Millennium Pharmaceuticals, Inc. (with. rights)(a) 1,255
108 Monsanto Co. ..................................... 1,878
105 Regeneron Pharmaceutical, Inc.(a)+................ 665
201 Ribapharm, Inc.(a)+............................... 863
198 Rigel Pharmaceuticals, Inc.(a).................... 172
123 Telik, Inc.(a)+................................... 1,619
--------
30,315
--------
Total common stock (cost $207,650)................ $187,997
========
</Table>
The accompanying notes are an integral part of this financial statement.
53
THE HARTFORD GLOBAL HEALTH FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE
- --------- --------
SHORT-TERM INVESTMENTS -- 23.0%
BANKING -- 1.1%
$ 2,186 Joint Repurchase Agreement,
1.27%, 05/01/2003 (Note 2f)........... $ 2,186
--------
COLLATERAL FOR SECURITIES LENDING -- 21.9%
41,660 Navigator Prime Portfolio............... 41,660
--------
Total short-term investments
(cost $43,846)........................ $ 43,846
========
Total investments in securities
(cost $251,496)(b).................... $231,843
========
</Table>
<Table>
STATEMENT OF ASSETS AND LIABILITIES:
ASSETS
Investments in securities, at value................. $231,843
Foreign currency on deposit with custodian (cost
$71).............................................. 72
Receivables:
Fund shares sold.................................. 241
Dividends and interest............................ 411
Other assets........................................ 97
--------
Total assets........................................ 232,664
--------
LIABILITIES
Payables:
Payable upon return of securities loaned (Note
2).............................................. 41,660
Investment securities purchased................... 29
Fund shares redeemed.............................. 234
Payable for investment advisory and management
fees (Note 3)................................... 147
Payable for distribution fees (Note 3)............ 22
Accrued expenses.................................... 98
--------
Total liabilities................................... 42,190
--------
Net assets.......................................... $190,474
========
</Table>
<Table>
SUMMARY OF SHAREHOLDERS' EQUITY:
Capital stock, par value $0.001 per share; 300,000
shares authorized; 16,279 shares outstanding...... $214,443
Accumulated undistributed net investment loss....... (623)
Accumulated net realized loss on investments and
foreign currency transactions..................... (3,699)
Unrealized depreciation of investments in securities
and the translations of assets and liabilities
denominated in foreign currency................... (19,647)
--------
Net assets.......................................... $190,474
========
</Table>
<Table>
Class A
Net asset value per share ($100,945 / 8,536
shares outstanding)............................. $11.83
------
Maximum offering price per share
($11.83 / 94.5%)................................ $12.52
======
Class B
Net asset value per share ($46,396 / 4,015 shares
outstanding).................................... $11.55
======
Class C
Net asset value per share ($42,200 / 3,651 shares
outstanding).................................... $11.56
------
Maximum offering price per share
($11.56 / 99.0%)............................... $11.68
======
Class Y
Net asset value per share ($933 / 77 shares
outstanding).................................... $12.05
======
</Table>
<Table>
(a) Presently non-income producing.
(b) At April 30, 2003, the cost of securities for federal income tax purposes
is $253,622 and the aggregate gross unrealized appreciation and
depreciation based on that cost was:
</Table>
<Table>
Unrealized appreciation......................... $ 12,893
Unrealized depreciation......................... (34,672)
--------
Net unrealized depreciation..................... $(21,779)
========
</Table>
<Table>
(c) See Note 2b of accompanying Notes of Financial Statements regarding
valuation of securities.
(d) 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 22.52% of total net assets as of April 30, 2003.
(e) Security sold within the terms of a private placement memorandum, exempt
from registration under Section 144A of the Securities Act of 1933, as
amended, and may be sold only to dealers in that program or to other
"accredited investors." Pursuant to guidelines adopted by the Board of
Directors, this issue is deemed to be liquid. The aggregate value of this
security at April 30, 3003, was $271, which represents .14% of total net
assets.
+ Security is fully or partially on loan as of April 30, 2003. See Note 2d
of accompanying Notes to Financial Statements.
@@ Due to the presentation of the financial statements in thousands, the
number or shares and/or dollars round to zero.
</Table>
<Table>
<Caption>
PERCENTAGE OF
DIVERSIFICATION BY COUNTRY NET ASSETS
- -------------------------- -------------
United States 76.2%
Japan 6.0%
United Kingdom 5.5%
France 4.1%
Switzerland 3.6%
Sweden 1.9%
Cash Equivalents/Receivables 1.2%
Germany 0.8%
Ireland 0.7%
-----
Total 100.0%
=====
</Table>
The accompanying notes are an integral part of this financial statement.
54
THE HARTFORD GLOBAL LEADERS FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE(C)
- --------- --------
COMMON STOCK -- 96.6%
AUSTRALIA -- 0.8%
500 Woolworths Ltd. (Retail -- Specialty Food Stores) $ 4,045
--------
CANADA -- 1.2%
2,465 Nortel Networks Corp.(a)+ (Other
Telecommunications)............................. 6,359
--------
FINLAND -- 2.7%
820 Nokia Oyj+ (Communications Equipment)............. 13,878
--------
FRANCE -- 16.1%
2,447 Alcatel S.A. Class A+ (Communications Equipment).. 20,044
211 Aventis S.A.+ (Pharmaceutical & Medicine
Manufacturing).................................. 10,716
835 Axa+ (Insurance Carriers)......................... 12,684
28 Groupe Danone+ (Food Manufacturing -- Other)...... 3,906
43 LVMH (Louis Vuitton Moet Hennessy) S.A.+
(Beverage Manufacturing)........................ 1,894
59 Pinault-Printemps-Redoute S.A.+
(Retail -- Department Stores)................... 4,087
1,365 Vivendi Universal S.A.+ (Other
Services -- Commercial/Indust Machine & Equip).. 22,234
1,046 Wanadoo(a)+ (Internet Providers & Web Search
Port)........................................... 7,146
--------
82,711
--------
GERMANY -- 4.9%
190 Deutsche Bank AG+ (Depository Credit Banking)..... 9,801
836 Deutsche Telekom AG(a) (Wired Telecommunications
Carriers)....................................... 11,170
79 Siemens AG (Navigate, Measure, Control
Instruments).................................... 3,925
--------
24,896
--------
HONG KONG -- 0.8%
1,513 Cathay Pacific Airways Ltd.+ (Air Transportation
Scheduled)...................................... 1,824
1,547 CNOOC Ltd. (Petro and Coal -- Oil & Gas
Extraction)..................................... 2,033
--------
3,857
--------
ISRAEL -- 1.5%
167 Teva Pharmaceutical Industries Ltd. ADR
(Pharmaceutical & Medicine Manufacturing)....... 7,790
--------
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE(C)
- --------- --------
JAPAN -- 2.7%
48 Nintendo Co. Ltd. (Toy Manufacturing)............. $ 3,712
1 Yahoo Japan Corp.(a)+ (Internet Providers & Web
Search Port).................................... 10,382
--------
14,094
--------
NETHERLANDS -- 5.3%
407 Aegon N.V. (Insurance Carriers)................... 4,133
657 ING Groep N.V.+ (International Trade Financing
(Foreign Banks))................................ 10,664
195 Unilever N.V. NY Shares+ (Food
Manufacturing -- Other)......................... 12,288
--------
27,085
--------
RUSSIA -- 0.5%
40 LUKOIL Holdings ADR (Petro and Coal -- Oil & Gas
Extraction)..................................... 2,781
--------
SOUTH KOREA -- 1.0%
40 Samsung Electronics Co. Ltd. GDR (Audio and Video
Equipment)...................................... 5,046
--------
SWITZERLAND -- 1.1%
236 Credit Suisse Group+ (Monetary
Authorities -- Central Bank).................... 5,629
--------
UNITED KINGDOM -- 12.9%
206 AstraZeneca plc (Pharmaceutical & Medicine
Manufacturing).................................. 8,095
3,400 British Airways plc(a) (Air Transportation
Scheduled)...................................... 6,873
243 British Sky Broadcasting Group plc(a) (Cable and
Other Program Distribution)..................... 2,515
940 Capita Group plc (Public -- Administration of
Human Resource Programs)........................ 3,808
550 Compass Group plc (Accommodation & Food
Serv -- Special Food Services).................. 2,533
1,022 Imperial Tobacco Group plc. (Tobacco
Manufacturing).................................. 17,109
1,578 Kingfisher plc (Retail -- Other General
Merchandise Stores)............................. 6,166
9,651 Vodafone Group plc (Wireless Telecommunications
Carriers)....................................... 19,050
--------
66,149
--------
UNITED STATES -- 45.1%
136 Adobe Systems, Inc. (with rights)
(Information -- Software Publishers)............ 4,711
306 Altera Corp.(a) (Semiconductor, Electronic
Compon)......................................... 4,830
223 Amazon.com, Inc.(a)+ (Retail -- Electronic
Shopping and Mail-Order Houses)................. 6,402
126 Apollo Group, Inc. Class A(a) (Education --
Colleges, Universities and Prof Schools)........ 6,802
112 ARAMARK Corp. Class B(a) (Waste
Management -- Business Support Services)........ 2,581
58 AutoZone, Inc.(a) (Retail -- Auto Parts,
Accessories, and Tire Stores)................... 4,655
120 Bank of America Corp. (Depository Credit Banking). 8,879
70 Barr Laboratories, Inc.(a)+ (Pharmaceutical &
Medicine Manufacturing)......................... 3,914
466 Cendant Corp.(a) (Other Services -- Other
Personal Services).............................. 6,647
355 Citigroup, Inc. (Depository Credit Banking)....... 13,943
</Table>
The accompanying notes are an integral part of this financial statement.
55
THE HARTFORD GLOBAL LEADERS FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE(C)
- --------- --------
COMMON STOCK -- (CONTINUED)
UNITED STATES -- (CONTINUED)
112 Coach, Inc. (with rights)(a) (Leather and Allied
Product Manufacturing) $ 4,873
258 Comcast Corp. Special Class A(a) (Cable & Other
Subscription Programming) 7,764
362 Dell Computer Corp. (with rights)(a) (Computer
and Peripheral) 10,468
94 DuPont (E.I.) de Nemours & Co. (Basic Chemical
Manufacturing) 4,006
158 eBay, Inc.(a) (Retail -- Electronic Shopping and
Mail-Order Houses) 14,695
240 Exxon Mobil Corp. (Petro and Coal -- Products
Manufacturing) 8,437
97 First Data Corp. (Data Processing Services)....... 3,805
392 Gap, Inc. (Retail -- Clothing Stores)............. 6,511
217 Gillette Co. (with rights) (Fabricated Metal
Manuf -- Cutlery and Handtool) 6,611
50 Guidant Corp. (Electromedical Manufacturing)...... 1,946
73 Lilly (Eli) & Co. (with rights) (Pharmaceutical &
Medicine Manufacturing) 4,665
459 Mattel, Inc. (Toy Manufacturing).................. 9,974
201 Medtronic, Inc. (with rights) (Electromedical
Manufacturing) 9,596
147 Merrill Lynch & Co., Inc. (Securities,
Commodities and Brokerage) 6,014
394 Microsoft Corp. (Information -- Software
Publishers) 10,062
76 Morgan Stanley Dean Witter & Co. (with rights)
(Securities, Commodities and Brokerage) 3,397
410 Nextel Communications, Inc. Class A(a) (Wireless
Telecommunications Carriers) 6,065
161 Pfizer, Inc. (with rights) (Pharmaceutical &
Medicine Manufacturing) 4,945
694 Schering-Plough Corp. (with rights)
(Pharmaceutical & Medicine Manufacturing) 12,561
178 St. Jude Medical, Inc. (with rights)(a) (Medical
Equipment & Supplies Manufacturing) 9,312
117 Univision Communications, Inc. Class A(a) (Radio
and Television Broadcasting) 3,552
288 USA Interactive(a)+ (Cable & Other Subscription
Programming) 8,629
544 VeriSign, Inc. (with rights)(a)
(Information -- Software Publishers) 6,759
58 Viacom, Inc. Class B(a) (Motion Picture & Video
Industry) 2,500
10 Wal-Mart Stores, Inc. (Retail -- Department
Stores) 563
--------
231,074
--------
Total common stock (cost $443,336)................ $495,394
========
<Caption>
PRINCIPAL
AMOUNT
- ---------
SHORT-TERM INVESTMENTS -- 23.0%
BANKING -- 1.3%
$ 6,371 Joint Repurchase Agreement,
1.27%, 05/01/2003 (Note 2f)..................... $ 6,371
--------
COLLATERAL FOR SECURITIES LENDING -- 21.7%
111,440 Navigator Prime Portfolio......................... 111,440
--------
117,811
--------
Total short-term investments
(cost $117,811)................................. $117,811
========
Total investments in securities
(cost $561,147)(b).............................. $613,205
========
</Table>
<Table>
STATEMENT OF ASSETS AND LIABILITIES:
ASSETS
Investments in securities, at value................. $613,205
Cash................................................ 3
Foreign currency on deposit with custodian (cost
$278)............................................. 277
Unrealized appreciation in forward foreign currency
contracts......................................... 8
Receivables:
Investment securities sold........................ 21,414
Fund shares sold.................................. 2,494
Dividends and interest............................ 1,201
Other assets........................................ 148
--------
Total assets........................................ 638,750
--------
LIABILITIES
Payables:
Payable upon return of securities loaned (Note
2).............................................. 111,440
Investment securities purchased................... 12,985
Fund shares redeemed.............................. 721
Payable for investment advisory and management
fees (Note 3)................................... 341
Payable for distribution fees (Note 3)............ 47
Accrued expenses.................................... 230
--------
Total liabilities................................... 125,764
--------
Net assets.......................................... $512,986
========
</Table>
The accompanying notes are an integral part of this financial statement.
56
- --------------------------------------------------------------------------------
<Table>
SUMMARY OF SHAREHOLDERS' EQUITY:
Capital stock, par value $0.001 per share; 300,000
shares. authorized; 44,429 shares outstanding.... $ 709,094
Accumulated undistributed net investment loss...... (554)
Accumulated net realized loss on investments and
foreign currency transactions.................... (247,645)
Unrealized appreciation of investments in
securities and the translations of assets and
liabilities denominated in foreign currency...... 52,091
---------
Net assets......................................... $ 512,986
=========
</Table>
<Table>
Class A
Net asset value per share ($363,010 / 31,181 shares
outstanding)...................................... $11.64
------
Maximum offering price per share ($11.64 / 94.5%)... $12.32
======
Class B
Net asset value per share ($68,251 / 6,061 shares
outstanding)...................................... $11.26
======
Class C
Net asset value per share ($69,952 / 6,200 shares
outstanding)...................................... $11.28
------
Maximum offering price per share ($11.28 / 99.0%)... $11.39
======
Class Y
Net asset value per share ($11,773 / 987 shares
outstanding)...................................... $11.93
======
</Table>
<Table>
(a) Presently non-income producing.
(b) At April 30, 2003, the cost of securities for federal income tax purposes
is $574,497 and the aggregate gross unrealized appreciation and
depreciation based on that cost was:
</Table>
<Table>
Unrealized appreciation......................... $41,679
Unrealized depreciation......................... (2,971)
-------
Net unrealized appreciation..................... $38,708
=======
</Table>
<Table>
(c) See Note 2b of acompanying Notes to Financial Statements regarding
valuation of securities.
(d) Note:Percentage of investments as shown is the ratio of the total market
value to total net assets.
(e) Securities issued within the terms of a private placement memorandum,
exempt form registration under Section 144A of the securities Act of
1933, as amended, and may be sold only to dealers in that program or to
other "accredited investors". 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, 2003, was $7,827, which represents
1.53% of total net assets.
+ Security is fully or partially on loan as of April 30, 2003. See Note 2d
of accompanying Notes to Financial Statements.
@@ Due to the presentation of the financial statements in thousands, the
number or shares and/or dollars round to zero.
</Table>
@@@FORWARD FOREIGN CURRENCY CONTRACTS OUTSTANDING AT APRIL 30, 2003
<Table>
<Caption>
CONTRACT DELIVERY APPRECIATION
DESCRIPTION MARKET VALUE AMOUNT DATE (DEPRECIATION)
- ----------- ------------ -------- ---------- --------------
Euro (Buy) $ 510 $ 502 05/02/2003 $ 8
Euro (Buy) 344 344 05/06/2003 @@
British Pound (Sell) 1,989 1,989 05/06/2003 @@
---
$ 8
===
</Table>
The accompanying notes are an integral part of this financial statement.
57
THE HARTFORD GLOBAL TECHNOLOGY FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE(C)
- --------- --------
COMMON STOCK -- 95.1%
COMMUNICATIONS EQUIPMENT -- 12.5%
80 Alcatel S.A. ADR+................................. $ 643
116 Cisco Systems, Inc. (with rights)(a).............. 1,745
386 Lucent Technologies, Inc.(a)...................... 694
125 Nokia Oyj ADR..................................... 2,078
-------
5,160
-------
COMPUTER AND PERIPHERAL -- 21.4%
78 Dell Computer Corp. (with rights)(a).............. 2,258
78 Hewlett-Packard Co. .............................. 1,273
33 International Business Machines Corp. ............ 2,836
223 Maxtor Corp.(a)................................... 1,227
19 Network Appliance, Inc.(a)........................ 250
30 Sabre Holdings Corp.(a)........................... 637
15 VERITAS Software Corp. (with rights)(a)........... 335
-------
8,816
-------
DATA PROCESSING SERVICES -- 8.7%
65 Concord EFS, Inc.(a).............................. 893
69 First Data Corp. ................................. 2,711
-------
3,604
-------
ELECTRICAL EQUIP MANUF -- COMPONENT OTHER -- 1.0%
27 Advanced Fibre Communications, Inc.(a)............ 412
-------
INFORMATION -- SOFTWARE PUBLISHERS -- 18.6%
55 Brocade Communications Systems, Inc.(a)........... 318
16 Cognos, Inc.(a)................................... 442
54 Edwards (J.D.) & Co. (with rights)(a)............. 652
171 Microsoft Corp. .................................. 4,370
153 Red Hat, Inc.(a).................................. 920
80 VeriSign, Inc. (with rights)(a)................... 989
-------
7,691
-------
INTERNET PUBLISHING AND BROADCASTING -- 2.9%
87 AOL Time Warner, Inc. (with rights)(a)............ 1,186
-------
MANAGEMENT, SCIENTIFIC, AND TECH CONSULTING
SER. -- 2.4%
61 Accenture Ltd. Class A(a)......................... 972
-------
OTHER SERVICES -- OTHER PERSONAL SERVICES -- 3.6%
104 Cendant Corp.(a).................................. 1,478
-------
PROFESSIONAL SERV -- COMPUTER SYS DESIGN &
RELATED -- 5.2%
27 BISYS Group, Inc.(a).............................. 459
33 CheckFree Corp.(a)+............................... 915
23 Computer Sciences Corp.(a)........................ 764
-------
2,138
-------
PROFESSIONAL, SCIENTIFIC, AND TECHNICAL SERV
OTHER -- 0.8%
15 Alliance Data Systems Corp.(a).................... 315
-------
SEMICONDUCTOR, ELECTRONIC COMPONENT -- 16.1%
106 Agere Systems, Inc. Class A(a).................... 190
83 Agere Systems, Inc. Class B(a).................... 142
44 Analog Devices, Inc. (with rights)(a)............. 1,470
27 Applied Materials, Inc.(a)........................ 400
51 ASML Holding N.V.(a).............................. 446
84 Fairchild Semiconductor Corp. Class A(a).......... 993
19 Genesis Microchip, Inc.(a)+....................... 333
43 Intel Corp. ...................................... 789
51 Intersil Corp. Class A(a)......................... 934
14 Novellus Systems, Inc.(a)......................... 398
13 QLogic Corp. (with rights)(a)..................... 567
-------
6,662
-------
WHOLESALERS -- PROFESSIONAL-COMMERCIAL EQUIP
MERCH -- 0.9%
36 Ingram Micro, Inc. Class A(a)..................... 361
-------
WIRELESS TELECOMMUNICATIONS CARRIERS -- 1.0%
19 UTStarcom, Inc.(a)................................ 420
-------
Total common stock (cost $38,855)................. $39,215
=======
<Caption>
PRINCIPAL
AMOUNT
- ---------
SHORT-TERM INVESTMENTS -- 10.4%
BANKING -- 6.6%
$2,713 Joint Repurchase Agreement,
1.27%, 05/01/2003 (Note 2f)..................... $ 2,713
-------
COLLATERAL FOR SECURITIES LENDING -- 3.8%
1,573 Navigator Prime Portfolio......................... 1,573
-------
Total short-term investments (cost $4,286)........ $ 4,286
=======
Total investments in securities
(cost $43,141)(b)............................... $43,501
=======
</Table>
<Table>
STATEMENT OF ASSETS AND LIABILITIES:
ASSETS
Investments in securities, at value........................... $43,501
Receivables:
Investment securities sold.................................. 294
Fund shares sold............................................ 166
Dividends and interest...................................... 2
Other assets.................................................. 21
-------
Total assets.................................................. 43,984
-------
LIABILITIES
Payables:
Payable upon return of securities loaned (Note
2)........................................................ 1,573
Investment securities purchased............................. 1,045
Fund shares redeemed........................................ 55
Payable for investment advisory and management
fees (Note 3)............................................. 32
Payable for distribution fees (Note 3)...................... 5
Accrued expenses.............................................. 18
-------
Total liabilities............................................. 2,728
-------
Net assets.................................................... $41,256
=======
</Table>
The accompanying notes are an integral part of this financial statement.
58
- --------------------------------------------------------------------------------
<Table>
SUMMARY OF SHAREHOLDERS' EQUITY:
Capital stock, par value $0.001 per share; 300,000
shares. authorized; 12,378 shares outstanding $113,982
Accumulated undistributed net investment loss....... (285)
Accumulated net realized loss on investments........ (72,801)
Unrealized appreciation of investments in
securities........................................ 360
--------
Net assets.......................................... $ 41,256
========
</Table>
<Table>
Class A
Net asset value per share ($21,547 / 6,396 shares
outstanding)....................................... $3.37
=====
Maximum offering price per share ($3.37 / 94.5%)..... $3.57
=====
Class B
Net asset value per share ($9,053 / 2,752 shares
outstanding)....................................... $3.29
=====
Class C
Net asset value per share ($10,050 / 3,052 shares
outstanding)....................................... $3.29
=====
Maximum offering price per share ($3.29 / 99.0%)..... $3.32
=====
Class Y
Net asset value per share ($606 / 178 shares
outstanding)....................................... $3.41
=====
</Table>
<Table>
(a) Presently non-income producing.
(b) At April 30, 2003, the cost of securities for federal income tax purposes
is $45,678 and the aggregate gross unrealized appreciation and
depreciation based on that cost was:
</Table>
<Table>
Unrealized appreciation......................... $ 445
Unrealized depreciation......................... (2,622)
Net unrealized depreciation..................... $(2,177)
=======
</Table>
<Table>
(c) See Note 2b of accompanying Notes of Financial Statements regarding
valuation of securities.
(d) 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 8.75% of total net assets as of April 30, 2003.
+ Security is fully or partially on loan as of April 30, 2003. See Note 2d
of accompanying Notes to Financial Statements.
@@ Due to the presentation of the financial statements in thousands, the
number or shares and/or dollars round to zero.
</Table>
<Table>
<Caption>
PERCENTAGE OF
DIVERSIFICATION BY COUNTRY NET ASSETS
- -------------------------- -------------
United States 86.3%
Finland 5.0%
Cash
Equivalents/Receivables 4.9%
France 1.6%
Netherlands 1.1%
Canada 1.1%
-----
Total 100.0%
=====
</Table>
The accompanying notes are an integral part of this financial statement.
59
THE HARTFORD GROWTH AND INCOME FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE(C)
- --------- --------
COMMON STOCK -- 99.5%
BASIC MATERIALS -- 1.9%
46 Eastman Kodak Co. ................................ $ 1,376
68 Engelhard Corp. (with rights)..................... 1,672
95 Freeport-McMoRan Copper & Gold, Inc. Class B
(with rights)................................... 1,637
32 Gillette Co. (with rights)........................ 959
--------
5,644
--------
CAPITAL GOODS -- 4.0%
50 General Dynamics Corp. ........................... 3,085
28 Ingersoll-Rand Co. Class A (with rights).......... 1,212
177 Tyco International Ltd. (with rights)............. 2,753
80 United Technologies Corp. ........................ 4,939
--------
11,989
--------
CONSUMER CYCLICAL -- 9.4%
39 Bed Bath & Beyond, Inc.(a)........................ 1,541
37 Family Dollar Stores, Inc. ....................... 1,265
165 Gap, Inc. ........................................ 2,741
50 Home Depot, Inc. ................................. 1,415
21 Johnson Controls, Inc. ........................... 1,686
102 Lowe's Companies, Inc. (with rights).............. 4,472
145 Mattel, Inc. ..................................... 3,152
146 Newell Rubbermaid, Inc. (with rights)............. 4,462
34 NIKE, Inc. Class B................................ 1,836
60 TJX Companies, Inc. .............................. 1,149
71 Wal-Mart Stores, Inc. ............................ 4,016
--------
27,735
--------
CONSUMER STAPLES -- 8.1%
159 Altria Group, Inc. ............................... 4,897
58 Kraft Foods, Inc. Class A......................... 1,792
134 Pepsi Bottling Group, Inc. ....................... 2,746
130 PepsiCo, Inc. .................................... 5,631
52 Procter & Gamble Co. ............................. 4,663
147 Sara Lee Corp. (with rights)...................... 2,467
36 Weyerhaeuser Co. ................................. 1,770
--------
23,966
--------
ENERGY -- 5.8%
56 Burlington Resources, Inc. (with rights).......... 2,579
24 Chevron Texaco Corp. (with rights)................ 1,489
67 ConocoPhillips (with rights)...................... 3,390
148 Exxon Mobil Corp. ................................ 5,224
74 Sunoco, Inc. (with rights)........................ 2,761
68 Unocal Corp. (with rights)........................ 1,884
--------
17,327
--------
FINANCE AND INSURANCE -- 22.2%
47 Ambac Financial Group, Inc. ...................... 2,754
46 American International Group, Inc. ............... 2,687
17 Anthem, Inc.(a)................................... 1,167
43 Bank of America Corp. ............................ 3,192
141 Bank One Corp. ................................... 5,076
92 Capital One Financial Corp. ...................... 3,840
344 Citigroup, Inc. .................................. 13,508
74 Fannie Mae........................................ 5,364
48 Golden West Financial Corp. ...................... 3,650
116 KeyCorp........................................... 2,797
64 MBIA, Inc. ....................................... 2,856
110 Merrill Lynch & Co., Inc. ........................ 4,520
102 St. Paul Companies, Inc. ......................... 3,496
87 UnionBanCal Corp. ................................ 3,531
60 Wachovia Corp. (with rights)...................... 2,296
25 Wellpoint Health Networks, Inc.(a)................ 1,921
37 XL Capital Ltd. Class A (with rights)............. 3,053
--------
65,708
--------
HEALTH CARE -- 14.3%
93 Abbott Laboratories (with rights)................. 3,795
49 Becton, Dickinson & Co. (with rights)............. 1,720
29 Cephalon, Inc.(a)................................. 1,168
35 CVS Corp. ........................................ 843
92 Genzyme Corp. -- General Division(a).............. 3,718
67 Guidant Corp. .................................... 2,620
69 Lilly (Eli) & Co. (with rights)................... 4,397
113 McKesson Corp. ................................... 3,143
80 Merck & Co., Inc. ................................ 4,678
354 Pfizer, Inc. (with rights)........................ 10,884
299 Schering-Plough Corp. (with rights)............... 5,410
--------
42,376
--------
SERVICES -- 6.6%
70 Comcast Corp. Class A(a).......................... 2,222
68 Comcast Corp. Special Class A(a).................. 2,053
63 Computer Sciences Corp.(a)........................ 2,066
57 FedEx Corp. ...................................... 3,401
58 Fluor Corp. ...................................... 2,005
41 Gannett Co., Inc. (with rights)................... 3,090
40 Omnicom Group, Inc. .............................. 2,445
76 USA Interactive(a)................................ 2,276
--------
19,558
--------
TECHNOLOGY -- 23.4%
42 Adobe Systems, Inc. (with rights)................. 1,441
52 Analog Devices, Inc. (with rights)(a)............. 1,722
159 AT&T Corp. ....................................... 2,705
90 BellSouth Corp. (with rights)..................... 2,304
479 Cisco Systems, Inc. (with rights)(a).............. 7,197
147 Citizens Communications Co. (with rights)(a)...... 1,610
74 Dell Computer Corp. (with rights)(a).............. 2,142
11 Emerson Electric Co. (with rights)................ 532
150 First Data Corp. ................................. 5,900
242 General Electric Co. ............................. 7,127
352 Intel Corp. ...................................... 6,473
91 International Business Machines Corp. ............ 7,692
24 Lexmark International, Inc. (with rights)(a)...... 1,803
521 Microsoft Corp. .................................. 13,325
163 Nextel Communications, Inc. Class A(a)............ 2,411
123 SBC Communications, Inc. ......................... 2,869
120 Texas Instruments, Inc. (with rights)............. 2,219
--------
69,472
--------
</Table>
The accompanying notes are an integral part of this financial statement.
60
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE(C)
- --------- --------
TRANSPORTATION -- 1.5%
84 CSX Corp. (with rights)................. $ 2,699
60 USFreightways Corp. .................... 1,705
--------
4,404
--------
UTILITIES -- 2.3%
103 Exelon Corp. ........................... 5,464
39 Pinnacle West Capital Corp.
(with rights)........................... 1,286
--------
6,750
--------
Total common stock
(cost $310,284)....................... $294,929
========
</Table>
<Table>
<Caption>
PRINCIPAL
AMOUNT
- ---------
SHORT-TERM INVESTMENTS -- 0.5%
FINANCE -- 0.5%
$1,444 Joint Repurchase Agreement,
1.27%, 05/01/2003 (Note 2f)........... $ 1,444
--------
Total short-term investments
(cost $1,444)......................... $ 1,444
========
Total investments in securities
(cost $311,728)(b).................... $296,373
========
</Table>
<Table>
STATEMENT OF ASSETS AND LIABILITIES:
ASSETS
Investments in securities, at value................. $296,373
Cash................................................ 58
Receivables:
Investment securities sold........................ 2,201
Fund shares sold.................................. 321
Dividends and interest............................ 336
Other assets........................................ 162
--------
Total assets........................................ 299,451
--------
LIABILITIES
Payables:
Investment securities purchased................... 2,020
Fund shares redeemed.............................. 614
Payable for investment advisory and management
fees. (Note 3) 189
Payable for distribution fees (Note 3)............ 28
Accrued expenses.................................... 160
--------
Total liabilities................................... 3,011
--------
Net assets.......................................... $296,440
========
SUMMARY OF SHAREHOLDERS' EQUITY:
Capital stock, par value $0.001 per share; 300,000
shares authorized; 34,637 shares outstanding...... $449,777
Accumulated undistributed net investment income..... 24
Accumulated net realized loss on investments........ (138,115)
Unrealized depreciation of investments in
securities........................................ (15,246)
--------
Net assets.......................................... $296,440
========
</Table>
<Table>
Class A
Net asset value per share ($213,524 / 24,708 shares
outstanding)....................................... $8.64
-----
Maximum offering price per share ($8.64 / 94.5%)..... $9.14
=====
Class B
Net asset value per share ($41,653 / 4,992 shares
outstanding)....................................... $8.34
=====
Class C
Net asset value per share ($40,488 / 4,849 shares
outstanding)....................................... $8.35
-----
Maximum offering price per share ($8.35 / 99.0%)..... $8.43
=====
Class Y
Net asset value per share ($775 / 88 shares
outstanding)....................................... $8.86
=====
</Table>
<Table>
(a) Presently non-income producing.
(b) At April 30, 2003, the cost of securities for federal income tax purposes
was $314,543 and the aggregate gross unrealized appreciation and
depreciation based on that cost was:
</Table>
<Table>
Unrealized appreciation......................... $ 12,881
Unrealized depreciation......................... (31,051)
--------
Net unrealized depreciation..................... $(18,170)
========
</Table>
<Table>
(c) See Note 2b of accompanying Notes to Financial Statements regarding
valuation of securities.
(d) Note: Percentage of investments as shown is the ratio of the total market
value to total net assets.
(e) Cash of $57 pledged as initial margin deposit for open long financial
futures position detailed below:
</Table>
<Table>
<Caption>
MARKET VALUE UNREALIZED
NUMBER OF COVERED BY APPRECIATION
ISSUER CONTRACTS CONTRACTS EXPIRATION AT 04/30/03
--------------------------- --------- ------------ ---------- ------------
Standard & Poor's 500 4 $916 June 2003 $109
</Table>
<Table>
@@ Due to the presentation of the financial statements in thousands, the
number or shares and/or dollars round to zero.
</Table>
The accompanying notes are an integral part of this financial statement.
61
THE HARTFORD GROWTH FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE(C)
- --------- ---------
COMMON STOCK -- 97.2%
CAPITAL GOODS -- 1.0%
40 International Game Technology(a).................. $ 3,486
---------
CONSUMER CYCLICAL -- 10.1%
137 AutoZone, Inc.(a)+................................ 11,103
110 Bed Bath & Beyond, Inc.(a)........................ 4,342
87 eBay, Inc.(a)..................................... 8,062
227 Gap, Inc. ........................................ 3,767
129 SYSCO Corp. (with rights)......................... 3,695
209 TJX Companies, Inc. .............................. 4,016
---------
34,985
---------
FINANCE AND INSURANCE -- 18.1%
239 ACE Ltd. ADR (with rights)........................ 7,919
184 American International Group, Inc. ............... 10,669
95 Anthem, Inc.(a)................................... 6,514
353 Citigroup, Inc. .................................. 13,836
100 Countrywide Financial Corp. ...................... 6,767
70 Freddie Mac....................................... 4,047
152 St. Paul Companies, Inc. ......................... 5,223
102 Wellpoint Health Networks, Inc.(a)................ 7,738
---------
62,713
---------
HEALTH CARE -- 31.8%
178 Abbott Laboratories (with rights)................. 7,248
43 Amgen, Inc. (with rights)(a)...................... 2,661
293 AstraZeneca plc ADR............................... 11,674
135 Forest Laboratories, Inc. (with rights)(a)........ 6,977
67 Genentech, Inc.(a)................................ 2,553
164 Genzyme Corp. General Division(a)................. 6,602
73 Gilead Sciences, Inc.(a).......................... 3,345
166 Guidant Corp. .................................... 6,453
68 HCA, Inc. ........................................ 2,186
46 IDEC Pharmaceuticals Corp.(a)..................... 1,506
120 Laboratory Corp. of America Holdings (with
rights)(a)...................................... 3,532
218 Lilly (Eli) & Co. (with rights)................... 13,932
160 McKesson Corp. ................................... 4,425
403 Pfizer, Inc. (with rights)........................ 12,401
852 Schering-Plough Corp. (with rights)............... 15,427
183 Serono S.A. ADR................................... 2,481
34 St. Jude Medical, Inc. (with rights)(a)........... 1,778
103 Wyeth (with rights)............................... 4,475
---------
109,656
---------
SERVICES -- 18.7%
224 Apollo Group, Inc. Class A(a)..................... 12,151
333 ARAMARK Corp. Class B(a).......................... 7,650
46 Clear Channel Communications, Inc.(a)............. 1,779
170 Comcast Corp. Special Class A(a).................. 5,095
201 Omnicom Group, Inc. .............................. 12,448
53 Scripps (E.W.) Co. Class A........................ 4,161
373 Univision Communications, Inc. Class A(a)+........ 11,282
233 USA Interactive(a)+............................... 6,987
73 Viacom, Inc. Class B(a)........................... 3,169
---------
64,722
---------
TECHNOLOGY -- 17.5%
585 Dell Computer Corp. (with rights)(a).............. 16,901
151 EchoStar Communications Corp
Class A(a)...................................... 4,518
366 First Data Corp. ................................. 14,354
643 Microsoft Corp. .................................. 16,429
335 Nextel Communications, Inc. Class A(a)............ 4,952
78 Symantec Corp.(a)................................. 3,446
---------
60,600
---------
Total common stock
(cost $318,061)................................. $ 336,162
=========
<Caption>
PRINCIPAL
AMOUNT
- ---------
SHORT-TERM INVESTMENTS -- 8.1%
COLLATERAL FOR SECURITIES LENDING -- 4.4%
$15,298 Boston Global Investment Trust.................... $ 15,298
---------
FINANCE -- 3.7%
12,810 Joint Repurchase Agreement,
1.27%, 05/01/2003 (Note 2f)..................... 12,810
---------
Total short-term investments
(cost $28,108) ................................. $ 28,108
=========
Total investments in securities. (cost
$346,169)(b).................................... $ 364,270
=========
</Table>
<Table>
STATEMENT OF ASSETS AND LIABILITIES:
ASSETS
Investments in securities, at value........................... $ 364,270
Receivables:
Investment securities sold.................................. 2,648
Fund shares sold............................................ 463
Dividends and interest...................................... 201
Other assets.................................................. 54
---------
Total assets.................................................. 367,636
---------
LIABILITIES
Payables:
Payable upon return of securities loaned (Note
2)........................................................ 15,298
Investment securities purchased............................. 6,034
Fund shares redeemed........................................ 257
Payable for investment advisory and management
fees (Note 3)............................................. 227
Payable for distribution fees (Note 3)...................... 24
Accrued expenses.............................................. 53
---------
Total liabilities............................................. 21,893
---------
Net assets.................................................... $ 345,743
=========
</Table>
The accompanying notes are an integral part of this financial statement.
62
- --------------------------------------------------------------------------------
<Table>
SUMMARY OF SHAREHOLDERS' EQUITY:
Capital stock, par value $0.001 per share; 100,000
shares authorized; 27,585 shares outstanding..... $ 436,064
Accumulated undistributed net investment loss...... (680)
Accumulated net realized loss on investments....... (107,742)
Unrealized appreciation of investments in
securities....................................... 18,101
---------
Net assets......................................... $ 345,743
=========
</Table>
<Table>
Class A
Net asset value per share ($13,497 / 1,061 shares
outstanding)...................................... $12.72
------
Maximum offering price per share($12.72 / 94.5%).... $13.46
======
Class B
Net asset value per share ($3,435 / 299 shares
outstanding)...................................... $11.51
======
Class C
Net asset value per share ($3,245 / 282 shares
outstanding)...................................... $11.51
------
Maximum offering price per share($11.51 / 99.0%).... $11.63
======
Class H
Net asset value per share ($24,913 / 2,160 shares
outstanding)...................................... $11.53
======
Class L
Net asset value per share ($275,579 / 21,606 shares
outstanding)...................................... $12.75
------
Maximum offering price per share($12.75 / 95.25%)... $13.39
======
Class M
Net asset value per share ($20,777 / 1,804 shares
outstanding)...................................... $11.52
======
Class N
Net asset value per share ($4,296 / 373 shares
outstanding)...................................... $11.52
======
Class Y
Net asset value per share ($1 / @@ shares
outstanding)...................................... $12.79
======
</Table>
<Table>
(a) Presently non-income producing.
(b) At April 30, 2003, the cost of securities for federal income tax purposes
is $358,669 and the aggregate gross unrealized appreciation and
depreciation based on that cost was:
</Table>
<Table>
Unrealized appreciation........................ $ 19,967
Unrealized depreciation........................ (14,366)
--------
Net unrealized appreciation $ 5,601
========
</Table>
<Table>
(c) See Note 2b of accompanying Notes to Financial Statements regarding
valuation of securities.
(d) 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 4.09% of total net assets as of April 30, 2003.
+ Security is fully or partially on loan as of April 30, 2003. See Note 2d
of accompanying Notes to Financial Statements.
@@ Due to the presentation of the financial statements in thousands, the
number or shares and/or dollars round to zero.
</Table>
The accompanying notes are an integral part of this financial statement.
63
THE HARTFORD GROWTH OPPORTUNITIES FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE(C)
- --------- ---------
COMMON STOCK -- 98.1%
BASIC MATERIALS -- 0.9%
169 Precision Castparts Corp. ........................ $ 4,677
---------
CONSUMER CYCLICAL -- 14.9%
237 Abercrombie & Fitch Co. Class A (with rights)(a).. 7,779
150 American Eagle Outfitters, Inc.(a)................ 2,618
1,459 American Tower Corp. Class A(a)................... 9,687
118 Blockbuster, Inc. Class A......................... 2,101
2,892 Burberry Group plc+............................... 12,089
110 Coach, Inc. (with rights)(a)...................... 4,777
56 eBay, Inc.(a)..................................... 5,195
1 Foot Locker, Inc. ................................ 14
625 Gap, Inc. ........................................ 10,397
462 Hollywood Entertainment Corp.(a).................. 8,206
50 Michaels Stores, Inc.(a).......................... 1,575
181 Newell Rubbermaid, Inc. (with rights)............. 5,523
169 Pacific Sunwear of California, Inc.(a)............ 3,865
153 Reebok International Ltd. (with rights)(a)........ 4,749
---------
78,575
---------
CONSUMER STAPLES -- 3.8%
224 Bunge Ltd. ....................................... 6,266
243 Constellation Brands, Inc. Class A(a)............. 6,520
165 General Mills, Inc. .............................. 7,448
---------
20,234
---------
ENERGY -- 1.0%
267 XTO Energy, Inc. (with rights).................... 5,214
---------
FINANCE AND INSURANCE -- 6.7%
114 Anthem, Inc.(a)................................... 7,846
99 BlackRock, Inc.(a)................................ 4,493
100 Capital One Financial Corp. ...................... 4,170
191 Fannie Mae........................................ 13,827
87 Freddie Mac....................................... 5,008
---------
35,344
---------
HEALTH CARE -- 29.6%
135 Abbott Laboratories (with rights)................. 5,489
159 Amylin Pharmaceuticals, Inc.(a)................... 3,051
488 Applera Corp. -- Celera Genomics Group(a)......... 5,127
171 AstraZeneca plc ADR............................... 6,826
127 Cardinal Health, Inc. ............................ 7,043
202 Caremark Rx, Inc.(a).............................. 4,030
172 Cephalon, Inc.(a)................................. 7,033
420 Edwards Lifesciences Corp.(a)..................... 12,137
154 Forest Laboratories, Inc. (with rights)(a)........ 7,965
193 Genzyme Corp. -- General Division(a).............. 7,774
112 Gilead Sciences, Inc.(a)+......................... 5,186
97 Guidant Corp. .................................... 3,794
310 Human Genome Sciences, Inc. (with rights)(a)...... 3,626
77 IDEC Pharmaceuticals Corp.(a)..................... 2,512
102 Lilly (Eli) & Co. (with rights)................... 6,510
267 McKesson Corp. ................................... 7,393
129 Medicines Co.(a).................................. 2,657
793 Millennium Pharmaceuticals, Inc. (with rights)(a). 8,727
57 Neurocrine Biosciences, Inc.(a)................... 2,575
133 NPS Pharmaceuticals, Inc.(a)+..................... 2,526
660 Schering-Plough Corp. (with rights)............... 11,953
601 Serono S.A. ADR+.................................. 8,161
127 St. Jude Medical, Inc. (with rights)(a)........... 6,641
195 Telik, Inc.(a).................................... 2,565
357 Viasys Healthcare, Inc. (with rights)(a).......... 5,785
324 Watson Pharmaceuticals, Inc.(a)................... 9,413
---------
156,499
---------
SERVICES -- 17.1%
352 Accenture Ltd. Class A(a)......................... 5,637
116 Alliance Data Systems Corp.(a).................... 2,440
188 Apollo Group, Inc. Class A(a)..................... 10,195
121 Business Objects S.A. ADR(a)...................... 2,629
232 Career Education Corp. (with rights)(a)........... 13,938
1,146 Cendant Corp.(a).................................. 16,368
104 CheckFree Corp.(a)................................ 2,856
123 Education Management Corp.(a)..................... 6,015
131 FTI Consulting, Inc.(a)+.......................... 5,941
152 Lamar Advertising Co.(a).......................... 5,446
81 Strayer Education, Inc. .......................... 5,236
192 Univision Communications, Inc. Class A(a)+........ 5,802
131 USA Interactive(a)................................ 3,929
212 Wynn Resorts Ltd.(a).............................. 3,574
---------
90,006
---------
TECHNOLOGY -- 21.0%
239 Altera Corp.(a)................................... 3,777
83 Analog Devices, Inc. (with rights)(a)............. 2,752
343 ASML Holding N.V.(a).............................. 3,022
598 Citizens Communications Co. (with rights)(a)...... 6,532
166 Cognos, Inc.(a)................................... 4,505
286 Crown Castle International Corp.(a)............... 1,820
301 Dell Computer Corp. (with rights)(a).............. 8,708
179 First Data Corp. ................................. 7,010
479 Fossil, Inc.(a)................................... 8,751
163 Global Payments, Inc. (with rights)............... 5,067
401 Microsoft Corp. .................................. 10,241
167 Nam Tai Electronics, Inc. ........................ 4,531
619 Nextel Communications, Inc. Class A(a)............ 9,161
226 Nokia Oyj ADR..................................... 3,743
325 Taiwan Semiconductor Manufacturing Co. Ltd.
ADR(a).......................................... 2,722
157 Take-Two Interactive Software, Inc.(a)+........... 3,535
129 Texas Instruments, Inc. (with rights)............. 2,393
273 Thermo Electron Corp. (with rights)(a)............ 4,966
</Table>
The accompanying notes are an integral part of this financial statement.
64
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE(C)
- --------- ---------
COMMON STOCK -- (CONTINUED)
TECHNOLOGY -- (CONTINUED)
144 Varian, Inc. (with rights)(a)..................... $ 4,542
437 VeriSign, Inc. (with rights)(a)................... 5,427
383 Vodafone Group plc ADR+........................... 7,570
---------
110,775
---------
TRANSPORTATION -- 3.1%
136 JetBlue Airways Corp.(a)+......................... 4,274
298 Ryanair Holdings plc ADR(a)+...................... 11,838
---------
16,112
---------
Total common stock
(cost $482,591)................................. $ 517,436
=========
<Caption>
PRINCIPAL
AMOUNT
- ---------
SHORT-TERM INVESTMENTS -- 7.9%
COLLATERAL FOR SECURITIES LENDING -- 7.5%
$39,568 Boston Global Investment Trust.................... $ 39,568
---------
FINANCE -- 0.4%
2,004 Joint Repurchase Agreement,
1.27%, 05/01/2003 (Note 2f)..................... 2,004
---------
Total short-term investments
(cost $41,572).................................. $ 41,572
=========
Total investments in securities (cost
$524,163)(b).................................... $ 559,008
=========
</Table>
<Table>
STATEMENT OF ASSETS AND LIABILITIES:
ASSETS
Investments in securities, at value........................... $ 559,008
Cash.......................................................... @@
Receivables:
Investment securities sold.................................. 13,627
Fund shares sold............................................ 117
Dividends and interest...................................... 300
Other assets................................................ 75
---------
Total assets.................................................. 573,127
---------
LIABILITIES
Payables:
Payable upon return of securities loaned (Note
2)........................................................ 39,568
Investment securities purchased............................. 5,116
Fund shares redeemed........................................ 261
Payable for investment advisory and management
fees (Note 3)............................................. 327
Payable for distribution fees (Note 3)...................... 33
Accrued expenses.............................................. 108
---------
Total liabilities............................................. 45,413
---------
Net assets................................................... $ 527,714
=========
SUMMARY OF SHAREHOLDERS' EQUITY:
Capital stock, par value $0.001 per share;
100,000,000 shares authorized; 31,518 shares
outstanding................................................ $ 708,192
Accumulated undistributed net investment loss................ (1,634)
Accumulated net realized loss on investments and
foreign currency transactions.............................. (213,689)
Unrealized appreciation of investments in
securities and the translations of assets and
liabilities denominated in foreign currency................ 34,845
---------
Net assets................................................... $ 527,714
=========
</Table>
<Table>
Class A
Net asset value per share ($5,229 / 309 shares
outstanding)................................... $16.91
------
Maximum offering price per share
($16.91 / 94.5%)............................... $17.89
======
Class B
Net asset value per share ($1,373 / 91 shares
outstanding)................................... $15.09
======
Class C
Net asset value per share ($1,129 / 75 shares
outstanding)................................... $15.09
------
Maximum offering price per share
($15.09 / 99.0%)............................... $15.24
======
Class H
Net asset value per share ($39,365 / 2,600 shares
outstanding)................................... $15.14
======
Class L
Net asset value per share ($427,273 / 25,181
shares outstanding)............................ $16.97
------
Maximum offering price per share
($16.97 / 95.25%).............................. $17.82
======
Class M
Net asset value per share ($20,651 / 1,366 shares
outstanding)................................... $15.12
======
Class N
Net asset value per share ($4,024 / 266 shares
outstanding)................................... $15.12
======
Class Y
Net asset value per share ($1 / @@ shares
outstanding)................................... $17.00
======
Class Z
Net asset value per share ($28,669 / 1,630 shares
outstanding)................................... $17.58
======
</Table>
<Table>
(a) Presently non-income producing.
(b) At April 30, 2003, the cost of securities for federal income tax purposes
is $527,984 and the aggregate gross unrealized appreciation and
depreciation based on that cost was:
</Table>
<Table>
Unrealized appreciation........................ $ 48,699
Unrealized depreciation........................ (17,675)
--------
Net unrealized appreciation.................... $ 31,024
========
</Table>
<Table>
(c) See Note 2b of accompanying Notes of Financial Statements regarding
valuation of securities.
(d) 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 12.82% of total net assets as of April 30, 2003.
+ Security is fully or partially on loan as of April 30, 2003. See Note 2d
of accompanying Notes to Financial Statements.
@@ Due to the presentation of the financial statements in thousands, the
number or shares and/or dollars round to zero.
</Table>
The accompanying notes are an integral part of this financial statement.
65
THE HARTFORD HIGH YIELD FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
STANDARD
PRINCIPAL AND POOR'S MARKET
AMOUNT RATING VALUE(C)
- --------- ---------- --------
CORPORATE BONDS: INVESTMENT GRADE -- 20.1%
BASIC MATERIALS -- 4.2%
$ 350 Boise Cascade Corp.
7.35%, 02/01/2016............................... Baa3* $ 354
1,375 Boise Cascade Corp.
7.50%, 02/01/2008............................... Baa3* 1,469
900 Crompton Corp.
8.50%, 03/15/2005............................... BBB- 954
210 Cypress Amax Minerals Co.
8.375%, 02/01/2023.............................. BBB- 211
950 Ferro Corp.
9.125%, 01/01/2009.............................. BBB- 1,067
506 Georgia Gulf Corp.
7.625%, 11/15/2005.............................. BBB- 521
600 Inco Ltd.
9.60%, 06/15/2022............................... BBB- 629
1,000 Methanex Corp.
8.75%, 08/15/2012............................... BBB- 1,102
1,045 Phelps Dodge Corp.
8.75%, 06/01/2011............................... BBB- 1,180
2,755 Phelps Dodge Corp.
9.50%, 06/01/2031............................... BBB- 3,169
100 Placer Dome, Inc.
7.125%, 06/15/2007.............................. BBB+ 113
650 Potlatch Corp.
12.50%, 12/01/2009.............................. Baa3* 722
590 Santa Fe Pacific Gold Corp.
8.375%, 07/01/2005.............................. BBB 645
--------
12,136
--------
CAPITAL GOODS -- 1.6%
385 Tyco International Group S.A.
3.125%, 01/15/2023(g)........................... BBB- 390
1,775 Tyco International Group S.A.
6.375%, 02/15/2006+............................. BBB- 1,784
2,400 Tyco International Group S.A.
6.75%, 02/15/2011+.............................. BBB- 2,400
--------
4,574
--------
CONSUMER CYCLICAL -- 1.7%
900 American Greetings Corp.
6.10%, 08/01/2028............................... BBB- 882
1,130 Centerpoint Energy Resources
7.875%, 04/01/2013(g)........................... BBB 1,297
1,100 Penney (J.C.) Co., Inc.
8.125%, 04/01/2027+............................. BBB- 1,062
1,230 Penney (J.C.) Co., Inc.
8.25%, 08/15/2022............................... BBB- 1,212
265 Toys 'R' Us, Inc.
7.875%, 04/15/2013.............................. BBB- 276
--------
4,729
--------
ENERGY -- 0.3%
900 Consumers Energy Co.
6.25%, 09/15/2006............................... BBB- 986
--------
FINANCE -- 2.6%
$ 53 Bundesschatzanweisungen (Euro)
3.00%, 12/10/2004............................... Aaa* $ 60
1,000 Capital One Bank
8.25%, 06/15/2005............................... BBB- 1,084
1,820 Deutsche Bundesrepublik (Euro)
6.00%, Ser 93 09/15/2003........................ AAA 2,056
1,753 French Treasury Note (Euro)
4.50%, 07/12/2003............................... AAA 1,963
58 United Kingdom Treasury (British. Pound)
6.75%, 11/26/2004............................... AAA 97
1,347 United Kingdom Treasury (British. Pound),
8.00%, 06/10/2003............................... AAA 2,163
--------
7,423
--------
HEALTH CARE -- 2.2%
750 Bausch & Lomb, Inc.
6.95%, 11/15/2007............................... BBB- 778
160 HCA, Inc.
7.00%, 07/01/2007+.............................. BBB- 173
1,020 HCA, Inc.
7.125%, 06/01/2006.............................. BBB- 1,097
350 HCA, Inc.
7.50%, 11/15/2095............................... BBB- 334
1,200 HCR Manor Care, Inc.
7.50%, 06/15/2006............................... BBB 1,288
600 Manor Care, Inc.
8.00%, 03/01/2008+.............................. BBB 651
1,600 Tenet Healthcare Corp.
6.50%, 06/01/2012............................... BBB- 1,516
540 Watson Pharmaceuticals, Inc.
7.125%, 05/15/2008.............................. BBB- 566
--------
6,403
--------
SERVICES -- 3.1%
1,400 Hilton Hotels Corp.
7.625%, 05/15/2008.............................. BBB- 1,498
125 Lenfest Communications, Inc.
10.50%, 06/15/2006.............................. BBB 148
800 MGM Mirage, Inc.
6.875%, 02/06/2008+............................. BBB- 828
1,660 Mirage Resorts, Inc.
7.25%, 10/15/2006............................... BBB- 1,735
1,000 Park Place Entertainment Corp.
7.50%, 09/01/2009+.............................. BBB- 1,062
175 Quebecor World (USA), Inc.
7.75%, 02/15/2009............................... BBB 183
2,300 Starwood Hotels & Resorts Worldwide, Inc.
7.375%, 05/01/2007.............................. BB+ 2,404
900 USA Networks, Inc.
6.75%, 11/15/2005............................... BBB- 952
--------
8,810
--------
</Table>
The accompanying notes are an integral part of this financial statement.
66
- --------------------------------------------------------------------------------
<Table>
<Caption>
STANDARD
PRINCIPAL AND POOR'S MARKET
AMOUNT RATING VALUE(C)
- --------- ---------- --------
CORPORATE BONDS: INVESTMENT
GRADE -- (CONTINUED)
TECHNOLOGY -- 3.5%
$ 260 Apogent Technologies, Inc.
8.00%, Ser B 04/01/2011......................... BBB- $ 303
1,150 AT&T Corp.
8.50%, 11/15/2031............................... BBB+ 1,280
1,000 France Telecom S.A.
10.00%, 03/01/2031.............................. BBB- 1,330
350 Qwest Capital Funding
7.625%, 08/03/2021.............................. BBB 266
2,300 Rogers Cable, Inc.
8.75%, 05/01/2032............................... BBB- 2,461
770 Sprint Capital Corp.
7.90%, 03/15/2005............................... BBB- 816
745 Sprint Capital Corp.
8.75%, 03/15/2032............................... BBB- 816
1,880 Telus Corp.
8.00%, 06/01/2011............................... BBB 2,124
365 Time Warner Entertainment Co.
8.375%, 03/15/2023.............................. BBB+ 450
1 Voicestream Wireless Corp.
10.375%, 11/15/2009............................. BBB+ 2
--------
9,848
--------
UTILITIES -- 0.9%
125 El Paso Electric Co.
9.40%, Ser E 05/01/2011......................... BBB- 143
125 Reliant Energy Resources
7.75%, 02/15/2011............................... BBB 139
1,335 Westar Energy, Inc.
8.50%, 07/01/2022............................... BBB- 1,403
800 Western Resources, Inc.
7.65%, 04/15/2023............................... BBB- 808
--------
2,493
--------
Total corporate bonds:
investment grade (cost $52,238)................. $ 57,402
========
CORPORATE BONDS: NON-INVESTMENT GRADE -- 70.8%
BASIC MATERIALS -- 12.3%
2,300 Abitibi-Consolidated Financial
7.875%, 08/01/2009.............................. BB+ 2,472
2,645 AK Steel Corp.
7.875%, 02/15/2009+............................. BB 2,347
500 Arco Chemical Co.
9.80%, 02/01/2020............................... BB 475
900 Bowater Canada Finance
7.95%, 11/15/2011............................... BB+ 945
175 Compass Minerals Group, Inc.
10.00%, 08/15/2011.............................. B 194
505 Crown Cork & Seal Co., Inc.
8.00%, 04/15/2023............................... B 379
1,076 Crown European Holdings S.A.
9.50%, 03/01/2011(g)............................ B+ 1,146
2,955 Equistar Chemicals L.P.
7.55%, 02/15/2026............................... BB 2,364
1,032 FMC Corp.
10.25%, 11/01/2009(g)........................... BB+ 1,161
855 General Chemical Industrial Products, Inc.
10.625%, 05/01/2009(a)......................... C 188
263 Georgia Gulf Corp.
10.375%, 11/01/2007+............................ BB- 284
550 Georgia-Pacific Corp.
7.25%, 06/01/2028............................... BB+ 445
1,175 Georgia-Pacific Corp.
7.50%, 05/15/2006+.............................. BB+ 1,172
565 Georgia-Pacific Corp.
8.875%, 05/15/2031.............................. BB+ 514
520 Georgia-Pacific Corp.
9.875%, 11/01/2021.............................. BB+ 491
600 Hercules, Inc.
11.125%, 11/15/2007............................. BB- 678
260 Hercules, Inc.
6.60%, 08/01/2027............................... BB 260
150 Huntsman ICI Chemicals, Inc.
10.125%, 07/01/2009............................. B- 162
1,120 IMC Global, Inc.
11.25%, Ser B 06/01/2011........................ BB 1,271
275 Jefferson Smurfit Corp.
8.25%, 10/01/2012............................... B 299
415 Kappa Beheer B.V. (Euro)
10.625%, 07/15/2009............................. B 500
720 Longview Fibre Co.
10.00%, 01/15/2009.............................. B+ 774
1,005 Louisiana-Pacific Corp.
8.50%, 08/15/2005+.............................. BB- 1,079
480 Lyondell Chemical Co.
9.625%, Ser A 05/01/2007........................ BB 494
1,550 Lyondell Chemical Co.
9.875%, Ser B 05/01/2007........................ BB 1,597
1,050 Messer Griesheim Holdings AG (Euro)
10.375%, 06/01/2011............................. B+ 1,301
620 Oregon Steel Mills, Inc.
10.00%, 07/15/2009+............................. B+ 589
2,995 Owens-Brockway Glass Co., Inc.
8.875%, 02/15/2009.............................. BB 3,212
780 Peabody Energy Corp.
6.875%, 03/15/2013(g)........................... BB- 811
905 Plastipak Holdings, Inc.
10.75%, 09/01/2011.............................. B+ 977
300 PolyOne Corp.
10.625%, 05/15/2010(g).......................... BB- 300
1,000 PolyOne Corp.
8.875%, 05/01/2012+............................. BB- 950
140 Silgan Holdings, Inc.
9.00%, 06/01/2009............................... B 146
590 Solutia, Inc.
11.25%, 07/15/2009 (with warrants).............. B+ 448
</Table>
The accompanying notes are an integral part of this financial statement.
67
THE HARTFORD HIGH YIELD FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
STANDARD
PRINCIPAL AND POOR'S MARKET
AMOUNT RATING VALUE(C)
- --------- ---------- --------
CORPORATE BONDS: NON-INVESTMENT GRADE -- (CONTINUED)
BASIC MATERIALS -- (CONTINUED)
$ 480 Solutia, Inc.
6.72%, 10/15/2037............................... B+ $ 343
810 Stone Container Corp.
8.375%, 07/01/2012.............................. B 881
1,200 Stone Container Corp.
9.75%, 02/01/2011............................... B 1,347
1,945 United States Steel LLC
10.75%, 08/01/2008+............................. BB 2,110
--------
35,106
--------
CAPITAL GOODS -- 2.0%
519 AGCO Corp.
9.50%, 05/01/2008............................... BB 566
685 Briggs & Stratton Corp.
8.875%, 03/15/2011.............................. BB+ 767
410 Cummins, Inc.
9.50%, 12/01/2010(g)............................ BB+ 443
254 Flowserve Finance B.V., Inc. (Euro)
12.25%, 08/15/2010.............................. B 315
350 Hasbro, Inc.
6.60%, 07/15/2028............................... BB 325
425 Jorgensen (Earle M.) Co.
9.75%, 06/01/2012+.............................. B- 446
200 Joy Global, Inc.
8.75%, Ser B 03/15/2012......................... B+ 216
240 Rexnord Corp.
10.125%, 12/15/2012(g).......................... B- 258
250 Sequa Corp.
8.875%, Ser B 04/01/2008........................ BB- 258
360 Sequa Corp.
9.00%, 08/01/2009+.............................. BB- 376
525 Terex Corp.
10.375%, Ser B 04/01/2011+...................... B 583
400 Xerox Capital Europe plc.
5.875%, 05/15/2004.............................. B+ 403
570 Xerox Corp.
9.75%, 01/15/2009(g)+........................... B+ 647
--------
5,603
--------
CONSUMER CYCLICAL -- 6.5%
550 AutoNation, Inc.
9.00%, 08/01/2008............................... BB+ 599
155 B & G Foods, Inc.
9.625%, Ser D 08/01/2007........................ B- 160
900 Champion Home Builders
11.25%, 04/15/2007.............................. B- 778
610 Collins & Aikman Floorcovering, Inc.
9.75%, Ser B 02/15/2010......................... B 615
500 D.R. Horton, Inc.
6.875%, 05/01/2013.............................. BB 511
595 Dana Corp.
6.50%, 03/15/2008............................... BB 577
1,100 Dana Corp.
7.00%, 03/01/2029+.............................. BB 929
1,120 Delhaize America, Inc.
8.125%, 04/15/2011.............................. BB+ 1,187
400 Delhaize America, Inc.
9.00%, 04/15/2031+.............................. BB+ 426
350 Dillard's, Inc.
6.625%, 01/15/2018.............................. BB+ 314
255 Dillard's, Inc.
7.13%, 08/01/2018............................... BB+ 238
440 Dillard's, Inc.
7.375%, 06/01/2006.............................. BB+ 455
420 Integrated Electrical Services, Inc.
9.375%, Ser C 02/01/2009........................ B+ 414
220 Kaufman & Broad Home Corp.
7.75%, 10/15/2004............................... BB+ 228
1,100 KB Home
7.75%, 02/01/2010............................... BB- 1,155
1,200 L-3 Communications Corp.
7.625%, 06/15/2012.............................. BB- 1,323
1,000 Levi Strauss & Co.
12.25%, 12/15/2012(g)........................... BB- 830
935 Millennium America, Inc.
7.00%, 11/15/2006............................... BB+ 949
718 Millennium America, Inc.
7.625%, 11/15/2026.............................. BB+ 671
825 Moore North America Finance
7.875%, 01/15/2011(g)........................... BB- 879
594 Navistar International Corp.
9.375%, Ser B 06/01/2006........................ BB- 634
170 Phillips Van-Heusen Corp.
8.125%, 05/01/2013(g)........................... BB- 176
1,150 Saks, Inc.
7.50%, 12/01/2010............................... BB 1,202
2,000 Schuler Homes, Inc.
9.375%, 07/15/2009.............................. BB 2,185
125 Toll Corp.
7.75%, 09/15/2007............................... BB+ 129
890 TRW Automotive, Inc.
9.375%, 02/15/2013(g)........................... B+ 972
--------
18,536
--------
CONSUMER STAPLES -- 3.0%
623 Armkel LLC
9.50%, 08/15/2009+.............................. B- 698
520 Canandaigua Brands, Inc.
8.625%, 08/01/2006.............................. BB 563
460 Del Monte Corp.
8.625%, 12/15/2012(g)........................... B 495
1,750 Dole Foods Co.
8.625%, 05/01/2009.............................. B+ 1,894
750 Johnsondiversey, Inc.
9.625%, 05/15/2012.............................. B 827
1,120 Land O'Lakes, Inc.
8.75%, 11/15/2011............................... B+ 717
</Table>
The accompanying notes are an integral part of this financial statement.
68
- --------------------------------------------------------------------------------
<Table>
<Caption>
STANDARD
PRINCIPAL AND POOR'S MARKET
AMOUNT RATING VALUE(C)
- --------- ---------- --------
CORPORATE BONDS: NON-INVESTMENT GRADE -- (CONTINUED)
CONSUMER STAPLES -- (CONTINUED)
$ 500 Smithfield Foods, Inc.
8.00%, Ser B 10/15/2009......................... BB+ $ 513
1,085 Tembec Industries, Inc.
7.75%, 03/15/2012............................... BB+ 1,101
950 Tembec Industries, Inc.
8.50%, 02/01/2011+.............................. BB+ 988
250 Tembec Industries, Inc.
8.625%, 06/30/2009.............................. BB+ 260
500 Tembec Industries, Inc.
8.625%, 06/30/2009(g)........................... BB+ 520
--------
8,576
--------
ENERGY -- 7.0%
150 Belco Oil & Gas Corp.
8.875%, Ser B 09/15/2007........................ B+ 157
555 Chesapeake Energy Corp.
7.50%, 09/15/2013(g)............................ B+ 590
520 Citgo Petroleum Corp.
11.375%, 02/01/2011(g).......................... B+ 580
75 Clark R&M, Inc.
8.625%, 08/15/2008+............................. BB- 78
1,530 Enron Corp.
6.95%, 07/15/2028(a)+........................... D 275
440 Gazprom OAO
9.625%, 03/01/2013(g)........................... B+ 469
820 Key Energy Services, Inc.
8.375%, Ser C 03/01/2008........................ BB 875
845 Magnum Hunter Resources, Inc.
9.60%, 03/15/2012+.............................. B+ 913
1,060 Newpark Resources, Inc.
8.625%, Ser B 12/15/2007........................ B+ 1,063
625 Nuevo Energy Co.
9.375%, Ser B 10/01/2010........................ B 663
103 Nuevo Energy Co.
9.50%, Ser B 06/01/2008......................... B 108
1,475 Pioneer Natural Resources Co.
6.50%, 01/15/2008............................... BB+ 1,602
1,000 Pioneer Natural Resources Co.
7.20%, 01/15/2028............................... BB+ 1,040
1,000 Pioneer Natural Resources Co.
9.625%, 04/01/2010.............................. BB+ 1,230
700 Plains E&P Company, Inc.
8.75%, 07/01/2012............................... B 749
650 Pogo Producing Co.
10.375%, Ser B 02/15/2009....................... BB 709
1,063 Port Arthur Finance Corp.
12.50%, 01/15/2009.............................. BB 1,211
530 Premcor Refining Group, Inc.
9.25%, 02/01/2010(g)............................ BB- 583
2,595 Southern Natural Gas Co.
8.00%, 03/01/2032............................... B+ 2,653
400 Star Gas Partners, Inc.
10.25%, 02/15/2013(g)........................... B 407
1,805 Swift Energy Co.
10.25%, 08/01/2009.............................. B 1,922
1,320 Tesoro Petroleum Corp.
8.00%, 04/15/2008(g)............................ BB 1,366
320 Tesoro Petroleum Corp.
9.00%, Ser B 07/01/2008+........................ B 306
285 Vintage Petroleum, Inc.
8.25%, 05/01/2012............................... BB- 304
150 Westport Resources Corp.
8.25%, 11/01/2011(g)............................ B+ 164
50 XTO Energy, Inc.
8.75%, Ser B 11/01/2009......................... BB- 52
--------
20,069
--------
FINANCE -- 2.7%
950 Burns Phillip Capital Ltd.
9.75%, 07/15/2012(g)............................ B- 950
250 Fed Republic of Brazil
12.75%, 01/15/2020.............................. B+ 250
400 Interpool, Inc.
7.20%, 08/01/2007............................... BB+ 380
75 Interpool, Inc.
7.35%, 08/01/2007 .............................. BB+ 72
2,000 IPC Acquisition Corp.
11.50%, 12/15/2009.............................. B- 2,080
100 Republic of Colombia
8.375%, 02/15/2027.............................. BB 92
8 Republic of Ecuador
12.00%, 11/15/2012(g)........................... CCC+ 7
145 Republic of Ecuador
6.00%, 08/15/2030(g)(h)......................... CCC+ 90
75 RFS Partnership L.P.
9.75%, 03/1/2012................................ B+ 78
400 Russian Federation National Govt.
11.00%, 07/24/2018(g)........................... BB 536
590 Senior Housing Properties Trust
7.875%, 04/15/2015.............................. BB+ 599
485 United Rentals North America, Inc.
10.75%, 04/15/2008(g)........................... BB- 524
605 Ventas Realty L.P., Inc.
8.75%, 05/01/2009............................... BB- 643
225 Western Financial Bank
9.625%, 05/15/2012.............................. BB- 232
1,120 Xerox Credit Corp.
6.10%, 12/16/2003............................... B+ 1,127
--------
7,660
--------
HEALTH CARE -- 1.9%
750 AdvancePCS
8.50%, 04/01/2008............................... BB 810
515 Alaris Medical Systems, Inc.
11.625%, Ser B 12/01/2006....................... Be+ 603
255 AmerisourceBergen Corp.
7.25%, 11/15/2012(g)............................ BB 270
</Table>
The accompanying notes are an integral part of this financial statement.
69
THE HARTFORD HIGH YIELD FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
STANDARD
PRINCIPAL AND POOR'S MARKET
AMOUNT RATING VALUE(C)
- --------- ---------- --------
CORPORATE BONDS: NON-INVESTMENT GRADE -- (CONTINUED)
HEALTH CARE -- (CONTINUED)
$ 270 Hanger Orthopedic Group, Inc.
10.375%, 02/15/2009............................. B $ 294
HEALTH CARE -- (CONTINUED)
$ 1,345 IASIS Healthcare Corp.
13.00%, 10/15/2009+............................. CCC+ $ 1,500
1,100 Select Medical Corp.
9.50%, 06/15/2009+.............................. B 1,177
580 United Surgical Partners International, Inc.
10.00%, 12/15/2011 ............................. B- 621
260 Vanguard Health Systems, Inc.
9.75%, 08/01/2011............................... CCC+ 263
--------
5,538
--------
SERVICES -- 10.1%
460 Allied Waste Industries, Inc.
6.375%, 01/15/2008.............................. BB- 451
500 Allied Waste Industries, Inc.
7.875%, 03/15/2005.............................. BB- 504
290 Allied Waste Industries, Inc.
9.25%, 09/01/2012(g)............................ BB- 318
345 Allied Waste North America, Inc.
7.625%, Ser B 01/01/2006........................ BB- 358
400 Allied Waste North America, Inc.
7.875%, 04/15/2013.............................. BB- 416
1,900 Allied Waste North America, Inc.
8.875%, Ser B 04/01/2008........................ BB- 2,052
10,117 Australis Media Ltd.
15.75% Disc Note 05/15/2003 (with
warrants)(a)(e)................................. NR 1
350 Aztar Corp.
8.875%, 05/15/2007.............................. B+ 366
485 Boyd Gaming Corp.
9.25%, 08/01/2009............................... BB- 535
1,305 Browning-Ferris Industries, Inc.
7.40%, 09/15/2035............................... BB- 1,214
1,275 Callahan Nordrhein-Westfalen
14.00%, 07/15/2010(a)+.......................... NR 56
855 CanWest Media, Inc.
7.625%, 04/15/2013(g)........................... B- 898
1,500 CSC Holdings, Inc.
8.125% Sr Deb 08/15/2009........................ BB- 1,590
1,800 Encompass Services Corp.
10.50%, 05/01/2009(a)(e)........................ D 27
1,450 Felcor Lodging L.P.
9.50%, 09/15/2008............................... B+ 1,443
800 Fresenius Finance BV (Euro)
7.75%, 04/30/2009............................... BB+ 920
340 HMH Properties, Inc.
8.45%, Ser C 12/01/2008......................... B+ 348
1,700 Hollinger International, Inc.
9.00%, 12/15/2010(g)............................ B 1,819
300 Host Marriot LP
9.25%, 10/01/2007............................... B+ 314
555 Iron Mountain, Inc.
7.75%, 01/15/2015............................... B 597
1,435 John Q. Hamons Hotels, Inc.
8.875%, Ser B 05/15/2012........................ B 1,485
400 K-III Communications Corp.
8.50%, Ser B 02/01/2006......................... B 401
1,180 Mandalay Resort Group
9.50%, 08/01/2008+.............................. BB+ 1,307
745 Mohegan Tribal Gaming Authority
8.125%, 01/01/2006.............................. BB 792
450 Park Place Entertainment Corp.
9.375%, 02/15/2007.............................. BB+ 489
175 Primedia, Inc.
7.625%, 04/01/2008+............................. B 178
1,545 Quebecor Media, Inc.
11.125%, 07/15/2011............................. B 1,754
420 R.H. Donnelley Financial Corp.
8.875%, 12/15/2010(g)........................... B+ 470
2,420 Service Corp. International
6.50%, 03/15/2008+.............................. BB- 2,360
670 Service Corp. International
7.70%, 04/15/2009............................... BB- 677
300 Service Corp. International
7.875%, 02/01/2013.............................. BB- 300
900 Six Flags, Inc.
8.875%, 02/01/2010.............................. B 900
200 Six Flags, Inc.
9.50%, 02/01/2009+.............................. B 204
1,105 Stewart Enterprises, Inc.
10.75%, 07/01/2008.............................. B+ 1,229
900 Unisys Corp.
7.25%, 01/15/2005............................... BB+ 941
450 Unisys Corp.
8.125%, 06/01/2006.............................. BB+ 482
460 Venetian Casino Resort LLC
11.00%, 06/15/2010.............................. B- 505
50 Webb (Del E.) Corp.
9.375%, 05/01/2009.............................. BB+ 52
--------
28,753
--------
TECHNOLOGY -- 18.8%
1,015 Avaya, Inc.
11.125%, 04/01/2009............................. B+ 1,122
1,750 British Sky Broadcasting Group plc
8.20%, 07/15/2009............................... BB+ 1,995
430 Charter Communications Holdings
10.00%, 04/01/2009+............................. CCC- 284
1,755 Charter Communications Holdings
10.00%, 05/15/2011+............................. CCC- 1,150
2,055 Charter Communications Holdings
10.75%, 10/01/2009.............................. CCC- 1,367
485 Charter Communications Holdings
8.625%, 04/01/2009.............................. CCC- 319
510 Charter Communications Holdings
9.625%, 11/15/2009+............................. CCC- 337
</Table>
The accompanying notes are an integral part of this financial statement.
70
- --------------------------------------------------------------------------------
<Table>
<Caption>
STANDARD
PRINCIPAL AND POOR'S MARKET
AMOUNT RATING VALUE(C)
- --------- ---------- --------
CORPORATE BONDS: NON-INVESTMENT GRADE -- (CONTINUED)
TECHNOLOGY -- (CONTINUED)
$ 825 Cincinnati Milacron, Inc.
8.375%, 03/15/2004 ......................... B $ 767
TECHNOLOGY -- (CONTINUED)
675 DIRECTV Holdings Finance
8.375%, 03/15/2013(g)........................... B 756
1,525 EchoStar DBS Corp.
9.375%, 02/01/2009.............................. BB- 1,645
720 Fisher Scientific International, Inc.
8.125%, 05/01/2012(g)........................... B+ 774
890 Focal Communications Corp.
11.875%, Ser B 01/15/2010(a)(e)................. D 53
300 Focal Communications Corp
12.125%, Ser B 02/15/2008(a)(e)................. D 18
6,475 Global Crossing Holdings Ltd.
9.50%, 11/15/2009(a)(e)+ ....................... NR 202
3,510 Global Crossing Holdings Ltd.
9.625%, 05/15/2008(a)(e)........................ NR 110
520 KPNQwest N.V. (Euro)
7.125%, 06/01/2009(a)........................... NR 3
3,385 KPNQwest N.V.
8.125%, 06/01/2009(a)........................... NR @@
790 Legrand S.A.
10.50%, 02/15/2013(g)........................... B+ 853
825 Level 3 Communications, Inc. (Euro)
11.25%, 03/15/2010.............................. CC 644
3,330 Level 3 Communications, Inc.
11.00%, 03/15/2008+............................. CC 2,764
3,680 Level 3 Communications, Inc.
11.25%, 03/15/2010+ ............................ CC 2,907
250 Level 3 Communications, Inc.
14.84%, 03/15/2010 (Zero coupon through
3/15/2005, thereafter 12.875%)(f)............... CC 154
855 Level 3 Communications, Inc.
9.125%, 05/01/2008+............................. CC 693
1,400 Lucent Technologies, Inc.
5.50%, 11/15/2008+.............................. B- 1,187
4,603 Lucent Technologies, Inc.
6.45%, 03/15/2029 .............................. B- 3,383
3,818 Marconi Corp. plc
8.375%, 09/15/2030(a)........................... Ca* 1,069
300 Metromedia Fiber Network, Inc. (Euro)
10.00%, 12/15/2009(a)(e)........................ NR 9
770 Metromedia Fiber Network, Inc.
10.00%, 12/15/2009(a)(e)........................ NR 26
3,465 Metromedia Fiber Network, Inc.
10.00%, Ser B 11/15/2008(a)(e)+ ................ NR 117
480 Nextel Communications, Inc.
9.375%, 11/15/2009+............................. B 518
3,160 Nextel Communications, Inc.
9.75%, 10/31/2007............................... B 3,271
950 Nextel Communications, Inc.
9.95%, 02/15/2008............................... B 998
750 Nextlink Escrow Bond.............................. NR @@
1,200 Nextlink Escrow Bond.............................. NR @@
900 Nextlink Escrow Bond.............................. NR @@
1,065 Nextlink Escrow Bond.............................. NR @@
2,440 Nortel Networks Corp.
4.25%, Conv. 09/01/2008 ........................ B 2,034
1,040 Nortel Networks Corp.
6.125%, 02/15/2006.............................. B 1,008
455 Nortel Networks Corp.
6.875%, 09/01/2023+............................. B 391
430 PanAmSat Corp.
6.375%, 01/15/2008.............................. BB- 442
2,215 PanAmSat Corp.
6.875%, 01/15/2028 ............................. BB- 2,137
635 PanAmSat Corp.
8.50%, 02/01/2012 .............................. B- 687
2,250 PerkinElmer, Inc.
8.875%, 01/15/2013(g)........................... BB- 2,424
1,250 PSINet, Inc.
11.00%, 08/01/2009(a)........................... NR 69
4,095 Qwest Corp.
6.875%, 09/15/2033.............................. B- 3,522
1,390 Qwest Corp.
7.25%, 10/15/2035 .............................. B- 1,241
900 Qwest Corp
7.625%, 06/09/2003+............................. B- 900
1,375 RCN Corp.
11.125%, 10/15/2007............................. CCC- 488
5,195 RCN Corp.
9.80%, Ser B 02/15/2008 ........................ CCC- 1,662
800 Rogers Cantel, Inc.
9.375%, 06/01/2008+ ............................ BB+ 833
200 Rogers Cantel, Inc.
9.75%, 06/01/2016............................... BB+ 218
1,200 Shaw Communications, Inc.
8.25%, 04/11/2010............................... BB+ 1,299
2,405 Telewest Communications plc
11.00%, 10/01/2007(a)........................... D 553
260 Telewest Communications plc
9.625%, 10/01/2006(a)+.......................... D 60
920 Time Warner Telecom, Inc.
9.75%, 07/15/2008+.............................. CCC+ 773
330 United Pan-Europe Communications N.V. (Euro)
10.875%, 11/01/2007
(with rights)(a)................................ D 33
300 United Pan-Europe Communications N.V.
10.875%, Ser B 08/01/2009(a).................... D 40
635 US West Communications
7.20%, 11/1/2004 ............................... B- 641
</Table>
The accompanying notes are an integral part of this financial statement.
71
THE HARTFORD HIGH YIELD FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
STANDARD
PRINCIPAL AND POOR'S MARKET
AMOUNT RATING VALUE(C)
- --------- ---------- --------
CORPORATE BONDS: NON-INVESTMENT GRADE -- (CONTINUED)
TECHNOLOGY -- (CONTINUED)
$ 1,575 WorldCom, Inc. -- WorldCom. Group
7.50%, 05/15/2011(a)+........................... NR $ 445
7,310 WorldCom, Inc
8.25%, 05/15/2031(a)............................ NR 2,065
--------
53,460
--------
TRANSPORTATION -- 0.9%
825 CP Ships Ltd.
10.375%, 07/15/2012............................. BB+ 893
100 Delta Air Lines, Inc.
7.90%, 12/15/2009+.............................. B 69
580 Delta Air Lines, Inc.
8.30%, 12/15/2029 .............................. B 348
640 Delta Air Lines, Inc.
9.00%, 05/15/2016+.............................. B 406
650 Teekay Shipping Corp.
8.32%, 02/01/2008 .............................. BB+ 696
105 United Air Lines, Inc.
10.67%, Ser A 05/01/2004(a)..................... D 5
100 United Air Lines, Inc.
9.125%, 01/15/2012(a)+.......................... D 5
--------
2,422
--------
UTILITIES -- 5.6%
2,740 Calpine Corp.
8.50%, 02/15/2011+.............................. B+ 2,000
150 Calpine Corp.
8.625%, 08/15/2010+............................. B+ 107
350 CMS Energy Corp.
7.50%, 01/15/2009+.............................. B+ 338
80 CMS Energy Corp.
8.50%, 04/15/2011+.............................. B+ 80
375 CMS Energy Corp.
8.90%, 07/15/2008............................... B+ 377
1,100 Illinois Power Corp.
11.50%, 12/15/2010(g)........................... B 1,232
600 Kansas Gas & Electric Co.
6.50%, 08/01/2005............................... BB+ 636
425 Kansas Gas & Electric Co
7.60%, 12/15/2003............................... BB+ 431
665 Kansas Gas & Electric Co.
8.29%, 03/29/2016............................... BB- 671
3,605 Mission Energy Holding Co.
13.50%, 07/15/2008+............................. B- 2,415
490 NorthWestern Corp.
8.75%, 03/15/2012............................... CCC+ 382
1,130 Sierra Pacific Power Co.
8.00%, Ser A 06/01/2008+........................ BB 1,130
1,150 Sierra Pacific Resources.
8.75%, 05/15/2005............................... B- 1,116
1,300 Tennessee Gas Pipeline Co.
7.50%, 04/01/2017+.............................. B+ 1,274
2,830 Transcontinental Gas Pipeline Corp.
6.125%, 01/15/2005.............................. B+ 2,872
800 Transcontinental Gas Pipeline Corp.
8.875% 07/15/2012............................... B+ 880
--------
15,941
--------
Total corporate bonds:
non-investment grade (cost $214,729)............ $201,664
========
</Table>
<Table>
<Caption>
SHARES
- ---------
COMMON STOCK -- 0.6%
BASIC MATERIALS -- 0.0%
1 Solutia (Warrants)(a)(e)....................................... 19
--------
CONSUMER CYCLICAL -- 0.0%
1 Hosiery Corp. of America, Inc. Class A(a)(e)................... @@
SERVICES -- 0.0%
4 Splitrock Service (Warrants)(a)(e)............................. 18
--------
TECHNOLOGY -- 0.6%
6 Adelphia Business Solutions, Inc. (with
rights)(a)(e)+............................................... @@
33 McLeod USA, Inc. (Warrants)(a)................................. 6
1 Minorplanet Systems USA, Inc. (Warrants)(a)(e)................. @@
5 Nextlink Communications, Inc.,
14.00% Conv Pfd PIK(a)(e).................................... @@
30 NTL, Inc.(a)................................................... 517
13 Powertel, Inc. (Warrants)(a)(e)................................ 259
11 Telus Corp. (Warrants)(a)(e)................................... 23
88 WilTel Communciations, Inc.(a)................................. 963
4 XO Communications, Inc.(a)..................................... 22
--------
1,790
--------
Total common stock (cost $2,110)............................... $ 1,827
========
PREFERRED STOCKS -- 0.6%
CAPITAL GOODS -- 0.1%
3 Xerox Corp.,
7.50%, 11/27/2021(g)......................................... 181
--------
CONSUMER CYCLICAL -- 0.2%
21 Rio Algom Ltd.,
9.375%....................................................... 533
--------
SERVICES -- 0.3%
8 CSC Holdings, Inc.,
11.125%, 04/01/2008.......................................... 784
--------
</Table>
The accompanying notes are an integral part of this financial statement.
72
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE(C)
- --------- --------
PREFERRED STOCKS -- (CONTINUED)
TECHNOLOGY --
0.0%
20 Adelphia Communications Corp.,
7.50%, Conv. Ser F 02/01/2005(a)(e)............. $ 6
15 McLeodUSA, Inc. Conv. Pfd
2.50% Ser A 04/18/2012.......................... 46
@@ NTL Europe, Inc.,
10.00%, Ser A 01/10/2023(a)..................... @@
--------
52
--------
Total preferred stocks (cost $1,885).............. $ 1,550
========
Total long-term investments (cost $270,962)....... $262,443
========
<Caption>
PRINCIPAL
AMOUNT
- ---------
SHORT-TERM INVESTMENTS -- 18.1%
COLLATERAL FOR SECURITIES LENDING -- 13.8%
$39,406 Navigator Prime Portfolio......................... 39,406
--------
FINANCE -- 4.2%
12,075 Joint Repurchase Agreement,
1.25%, 05/01/2003 (Note 2f)..................... 12,075
--------
Total short-term investments (cost $51,481)....... $ 51,481
========
Total investments in securities (cost
$322,443)(b).................................... $313,924
========
</Table>
<Table>
STATEMENT OF ASSETS AND LIABILITIES:
ASSETS
Investments in securities, at value......................... $313,924
Cash........................................................ 1
Foreign currency on deposit with custodian (cost $2,775).... 2,864
Receivables:
Investment securities sold................................ 685
Fund shares sold.......................................... 2,915
Dividends and interest.................................... 5,863
Other assets................................................ 85
--------
Total assets................................................ 326,337
--------
LIABILITIES
Payables:
Payable upon return of securities loaned (Note 2)......... 39,406
Investment securities purchased........................... 1,255
Fund shares redeemed...................................... 492
Payable for investment advisory and management fees (Note
3)...................................................... 164
Payable for distribution fees (Note 3).................... 32
Accrued expenses............................................ 55
--------
Total liabilities........................................... 41,404
--------
Net assets.................................................. $284,933
========
SUMMARY OF SHAREHOLDERS' EQUITY:
Capital stock, par value $0.001 per share; 300,000 shares
authorized; 37,126 shares outstanding..................... $374,352
Accumulated undistributed net investment loss............... (865)
Accumulated net realized loss on investments and foreign
currency transactions..................................... (80,139)
Unrealized depreciation of investments in securities and
the translations of assets and liabilities denominated
in foreign currency....................................... (8,415)
--------
Net assets.................................................. $284,933
========
</Table>
<Table>
Class A
Net asset value per share ($160,260 / 20,863
shares outstanding)........................... $ 7.68
--------
Maximum offering price per
share($7.68 / 95.5%).......................... $ 8.04
========
Class B
Net asset value per share ($63,031 / 8,222
shares outstanding)........................... $ 7.67
--------
Class C
Net asset value per share ($61,641 / 8,041
shares outstanding)........................... $ 7.67
--------
Maximum offering price per share
($7.67 / 99.0%)............................... $ 7.75
========
Class Y
Net asset value per share ($1 / @@ shares
outstanding).................................. $ 7.68
========
</Table>
The accompanying notes are an integral part of this financial statement.
73
THE HARTFORD HIGH YIELD FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
(a) Presently non-income producing. For long-term debt securities, items
identified are in default as to payment of interest and/or principal.
(b) At April 30, 2003, the cost of securities for federal income tax purposes
is $323,557 and the aggregate gross unrealized appreciation and
depreciation based on that cost was:
</Table>
<Table>
Unrealized appreciation..................... $ 22,687
Unrealized depreciation..................... (32,320)
--------
Net unrealized depreciation................. $ (9,633)
========
</Table>
<Table>
(c) See Note 2b of accompanying Notes to Financial Statements regarding
valuation of securities.
(d) 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 14.20% of total net asset as of April 30, 2003.
(e) Securities issued within the terms of a private placement memorandum,
exempt from registration under Section 144A of the Securities Act of
1933, as amended, and may be sold only to dealers in that program or to
other "accredited investors". These investments have been identified by
portfolio management as illiquid securities:
</Table>
<Table>
<Caption>
PERIOD
ACQUIRED SHARES/PAR SECURITY COST BASIS
-------- ---------- -------- ----------
1997 6 Adelphia Business $ 20
Solutions, Inc. (with
rights)
2002 20 Adelphia Communications 488
Corp., 7.50%, Conv. Pfd
1996 10,117 Australis Media Ltd. due 7,596
2003
2001 1,800 Encompass Services 1,755
Corp., due 2009
2001 300 Focal Communications 271
Corp., due 2008
2001 890 Focal Communications 525
Corp., due 2010
1999 3,510 Global Crossing 1,159
Holdings, Ltd due 2008
1999 6,475 Global Crossing 3,465
Holdings, Ltd due 2009
</Table>
<Table>
<Caption>
PERIOD
ACQUIRED SHARES/PAR SECURITY COST BASIS
-------- ---------- -------- ----------
1994 1 Hosiery Corp. of 21
America, Inc. Class
A -- 144A
2001 300 Metromedia Fiber 265
Network, Inc. due 2009
1998 3,465 Metromedia Fiber 3,124
Network, Inc. due 2008
2001 770 Metromedia Fiber 400
Network, Inc. due 2009
1997 1 Minorplanet Systems USA 13
(Warrants) -- 144A
1998 5 Nextlink Communications, 194
Inc., 14% Conv pfd PIK
1997 13 Powertel, Inc. 94
(Warrants) -- 144A
1998 4 Splitrock Serivice 46
(Warrants) -- 144A
1996 11 Telus Corp. 77
(Warrants) -- 144A
2003 1 Solutia (Warrants) @@
</Table>
<Table>
The aggregate value of these securities at April 30, 2003, was $888,
which represents .31% of total net assets.
(f) The interest rate disclosed for these securities represents the effective
yield on the date of acquisition.
(g) Securities sold within the terms of a private placement memorandum,
exempt form registration under Section 144A of the Securities Act of
1933, as amended, and may be sold only to dealers in that program or to
other "accredited investors". 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, 2003, was $26,586, which
represents 9.33% of total net assets.
(h) Variable rate securities; the yield reported is the rate in effect as of
April 30, 2003.
+ Security is fully or partially on loan as of April 30, 2003. See Note 2d
of accompanying Notes to Financial Statements.
@@ Due to the presentation of the financial statements in thousands, the
number or shares and/or dollars round to zero.
</Table>
The accompanying notes are an integral part of this financial statement.
74
THE HARTFORD INCOME FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
STANDARD
PRINCIPAL AND POOR'S MARKET
AMOUNT RATING VALUE(B)
- --------- ---------- --------
ASSET BACKED AND COMMERCIAL MORTGAGE SECURITIES -- 6.3%
FINANCE -- 6.3%
$ 100 Ford Credit Auto Owner Trust
4.29%, Ser 2003-A Class C
11/15/2007...................................... BBB $ 101
200 General Electric Commercial Mortgage Corp.
5.00%, Ser 2002-3A Class A2,
12/10/2037...................................... AAA 207
49 Green Tree Financial Corp.
7.30%, Ser 1995-9 Class A-6
01/15/2026...................................... AAA 51
196 J.P. Morgan Chase Commercial Mortgage Sec Corp.
4.33%, Ser 2002-C2 Class A1
12/12/2034...................................... AAA 202
197 J.P. Morgan Chase Commercial Mortgage Sec Corp.
4.37%, Ser 2002-CIB5 Class A1
10/12/2037...................................... Aaa* 203
30 Soundview Home Equity Loan Trust, Inc.
8.64%, Ser 2000-1 Class M1
05/25/2030...................................... AA 32
100 Wachovia Bank Commercial Mortgage Trust
4.87%, Ser 2003-C3 Class A2
02/15/2035...................................... AAA 103
193 Morgan Stanley Dean Witter Capital I
5.38%, Ser 2002-TOP7 Class A1
01/15/2039...................................... Aaa* 207
-------
Total asset backed and commercial mortgage
securities
(cost $1,087)................................... $ 1,106
=======
CORPORATE BONDS: INVESTMENT GRADE -- 21.1%
BASIC MATERIALS -- 2.6%
100 Boise Cascade Corp.
7.35%, 02/01/2016............................... Baa3* 101
47 Crompton Corp.
8.50%, 03/15/2005............................... BBB- 50
75 Methanex Corp.
7.75%, 08/15/2005............................... BBB- 78
100 Noranda, Inc.
8.375%, 02/15/2011.............................. BBB- 109
100 Phelps Dodge Corp.
9.50%, 06/01/2031............................... BBB- 115
-------
453
-------
CAPITAL GOODS -- 1.1%
100 Bombardier, Inc.
6.75%, 05/01/2012(d)............................ BBB- 91
100 Tyco International Group S.A.
6.375%, 02/15/2006.............................. BBB- 101
-------
192
-------
CONSUMER CYCLICAL -- 2.2%
10 American Greetings Corp.
6.10%, 08/01/2028............................... BBB- 10
50 Penney (J.C.) Co., Inc.
8.125%, 04/01/2027.............................. BBB- 48
100 Penney (J.C.) Co., Inc.
8.25%, 08/15/2022............................... BBB- 98
100 PHH Corp.
6.00%, 03/01/2008............................... BBB+ 105
100 Southland Corp.
5.00%, 12/15/2003............................... BBB- 100
25 Toys 'R' Us, Inc.
7.875%, 04/15/2013.............................. BBB- 26
-------
387
-------
ENERGY -- 0.6%
100 Valero Energy Corp.
7.50%, 04/15/2032............................... BBB 114
-------
FINANCE -- 4.9%
150 Capital One Bank
8.25%, 06/15/2005............................... BBB- 162
200 First Union-Lehman Brothers-Bank of America
1998-C2 Class A2
6.56%, 11/18/2035............................... AAA 227
100 Ford Motor Credit Co.
6.50%, 01/25/2007............................... BBB 102
100 Household Finance Corp.
7.00%, 05/15/2012............................... A 115
245 New South Wales Treasury Corp.
(Australian Dollar)
7.00%, 04/01/2004(d)............................ AAA 156
100 Sears Roebuck Acceptance Corp.
6.70%, 04/15/2012............................... BBB+ 106
-------
868
-------
HEALTH CARE -- 1.8%
15 Bausch & Lomb, Inc.
6.95%, 11/15/2007............................... BBB- 16
53 Bausch & Lomb, Inc.
7.125%, 08/01/2028.............................. BBB- 50
75 Manor Care, Inc.
6.25%, 05/01/2013(d)............................ BBB 76
75 Tenet Healthcare Corp.
5.00%, 07/01/2007............................... BBB- 71
100 Universal Health Services, Inc.
6.75%, 11/15/2011............................... BBB- 106
-------
319
-------
</Table>
The accompanying notes are an integral part of this financial statement.
75
THE HARTFORD INCOME FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
STANDARD
PRINCIPAL AND POOR'S MARKET
AMOUNT RATING VALUE(B)
- --------- ---------- --------
CORPORATE BONDS: INVESTMENT GRADE -- (CONTINUED)
SERVICES -- 2.8%
$ 50 Clear Channel Communications, Inc
7.875%, 06/15/2005.............................. BBB- $ 55
100 Comcast Cable Communications, Inc
6.75%, 01/30/2011............................... BBB 110
100 Hyatt Equities LLC
6.875%, 06/15/2007(d)........................... BBB 101
100 News America Holdings, Inc.
7.75%, 01/20/2024............................... BBB- 114
100 USA Interactive, Inc.
7.00%, 01/15/2013(d)............................ BBB- 110
-------
490
-------
TECHNOLOGY -- 3.4%
100 AOL Time Warner, Inc.
6.875%, 05/01/2012.............................. BBB+ 109
210 AT&T Wireless Services, Inc.
8.125%, 05/01/2012.............................. BBB 247
100 France Telecom S.A.
9.25%, 03/01/2011............................... BBB- 122
100 Motorola, Inc.
8.00%, 11/01/2011............................... BBB 115
-------
593
-------
UTILITIES -- 1.7%
75 Alliant Energy Resources, Inc.
9.75%, 01/15/2013(d)............................ BBB 89
100 TXU Electric Co.
7.875%, 03/01/2023.............................. BBB 104
100 Western Resources, Inc.
7.875%, 05/01/2007.............................. BBB- 110
-------
303
-------
Total corporate bonds: investment grade
(cost $3,398)................................... $ 3,719
=======
CORPORATE BONDS: NON-INVESTMENT GRADE -- 27.7%
BASIC MATERIALS -- 5.9%
$ 100 Bowater Canada Finance
7.95%, 11/15/2011............................... BB+ 105
100 Cascades, Inc.
7.25%, 02/15/2013(d)............................ BB+ 105
70 Crown European Holdings S.A.
9.50%, 03/01/2011(d)............................ B+ 75
100 Equistar Chemicals L.P.
8.75%, 02/15/2009............................... BB 99
75 FMC Corp.
10.25%, 11/01/2009(d)........................... BB+ 84
100 Georgia-Pacific Corp.
8.875%, 05/15/2031.............................. BB+ 91
100 Nova Chemicals Corp.
7.00%, 05/15/2006............................... BB+ 102
50 Oregon Steel Mills, Inc.
10.00%, 07/15/2009.............................. B+ 48
75 Owens-Brockway Glass Containers
8.75%, 11/15/2012............................... BB 80
15 Peabody Energy Corp.
6.875%, 03/15/2013(d)........................... BB- 16
75 Plastipak Holdings, Inc.
10.75%, 09/01/2011.............................. B+ 81
100 PolyOne Corp.
8.875%, 05/2001/12.............................. BB- 95
50 United States Steel LLC
10.75%, 08/01/2008.............................. BB 54
-------
1,035
-------
CAPITAL GOODS -- 1.3%
40 Cummins, Inc.
9.50%, 12/01/2010(d)............................ BB+ 43
10 Rexnord Corp.
10.125%, 12/15/2012(d).......................... B- 11
75 Terex Corp.
10.375%, Ser B 04/01/2011....................... B 83
100 Xerox Capital Europe plc.
5.875%, 05/15/2004.............................. B+ 101
-------
238
-------
CONSUMER CYCLICAL -- 3.3%
50 AutoNation, Inc.
9.00%, 08/01/2008............................... BB+ 54
50 Dana Corp.
6.50%, 03/01/2009............................... BB 48
20 Dana Corp.
7.00%, 03/01/2029............................... BB 17
100 Delhaize America, Inc.
7.375%, 04/15/2006.............................. BB+ 104
100 KB Home
7.75%, 02/01/2010............................... BB- 105
50 Levi Strauss & Co.
12.25%, 12/15/2012(d)........................... BB- 42
50 Saks, Inc.
7.50%, 12/01/2010............................... BB 52
75 Schuler Homes, Inc.
9.375%, 07/15/2009.............................. BB 82
50 Toll Corp.
8.00%, 05/01/2009............................... BB+ 53
25 TRW Automotive, Inc.
9.375%, 02/15/2013(d)........................... B+ 27
-------
584
-------
CONSUMER STAPLES -- 0.5%
30 Del Monte Corp.
8.625%, 12/15/2012(d)........................... B 32
50 Tembec Industries, Inc.
7.75%, 03/15/2012............................... BB+ 51
-------
83
-------
</Table>
The accompanying notes are an integral part of this financial statement.
76
- --------------------------------------------------------------------------------
<Table>
<Caption>
STANDARD
PRINCIPAL AND POOR'S MARKET
AMOUNT RATING VALUE(B)
- --------- ---------- --------
CORPORATE BONDS: NON-INVESTMENT GRADE -- (CONTINUED)
ENERGY -- 1.5%
$ 30 Citgo Petroleum Corp.
11.375%, 02/01/2011(d).......................... B+ $ 34
48 Port Arthur Finance Corp.
12.50%, 01/15/2009.............................. BB 55
45 Premcor Refining Group, Inc.
9.25%, 02/01/2010(d)............................ BB- 50
50 Vintage Petroleum, Inc.
8.25%, 05/01/2012............................... BB- 53
75 XTO Energy, Inc.
6.25%, 04/15/2013(d)............................ BB 78
-------
270
-------
FINANCE -- 0.8%
75 Interpool, Inc.
7.35%, 08/01/2007............................... BB+ 72
70 United Rentals North America, Inc.
10.75%, 04/15/2008(d)........................... BB- 75
-------
147
-------
HEALTH CARE -- 0.7%
55 AmerisourceBergen Corp.
7.25%, 11/15/2012(d) ........................... BB 58
60 Select Medical Corp.
9.50%, 06/15/2009............................... B 64
-------
122
-------
SERVICES -- 5.9%
100 Allied Waste North America, Inc.
10.00%, Ser B 08/01/2009........................ B+ 107
75 Aztar Corp.
8.875%, 05/15/2007.............................. B+ 78
75 CSC Holdings, Inc.
7.875%, 12/15/2007.............................. BB- 79
100 HMH Properties
7.875%, Ser B 08/01/2008........................ B+ 101
90 Hollinger International, Inc.
9.00%, 12/15/2010(d)............................ B 96
50 John Q. Hamons Hotels, Inc.
8.875%, Ser B 05/15/2012........................ B 52
50 Primedia, Inc.
7.625%, 04/01/2008.............................. B 51
45 R.H. Donnelley Financial Corp.
8.875%, 12/15/2010(d)........................... B+ 50
100 Rogers Communications, Inc.
8.875%, 07/15/2007.............................. BB- 103
50 Service Corp. International
6.50%, 03/15/2008............................... BB- 49
100 Service Corp. International
7.70%, 04/15/2009............................... BB- 101
75 Six Flags, Inc.
8.875%, 02/01/2010.............................. B 75
100 Starwood Hotels & Resorts Worldwide, Inc.
7.875%, 05/01/2012.............................. BB+ 105
-------
1,047
-------
TECHNOLOGY -- 3.9%
125 Crown Castle International Corp.
10.75%, 08/01/2011.............................. CCC 129
30 DIRECTV Holdings Finance
8.375%, 03/15/2013(d)........................... B 33
75 Fisher Scientific International, Inc.
8.125%, 05/01/2012(d)........................... B+ 81
60 Legrand S.A.
10.50%, 02/15/2013(d)........................... B+ 65
50 Nextel Communications, Inc.
9.375%, 11/15/2009.............................. B 54
50 PanAmSat Corp.
6.875%, 01/15/2028.............................. BB- 48
85 PerkinElmer, Inc.
8.875%, 01/15/2013(d)........................... BB- 91
100 Rogers Cantel, Inc.
8.30%, 10/01/2007............................... BB+ 103
75 US West Communications
7.20%, 11/01/2004............................... B- 76
-------
680
-------
TRANSPORTATION -- 1.2%
100 Royal Caribbean Cruises Ltd.
7.25%, 08/15/2006............................... BB+ 99
100 Teekay Shipping Corp.
8.32%, 02/01/2008............................... BB+ 107
-------
206
-------
UTILITIES -- 2.7%
50 Calpine Corp.
8.50%, 02/15/2011............................... B+ 36
25 El Paso Corp.
7.80%, 08/01/2031............................... B 20
50 Illinois Power Corp.
11.50%, 12/15/2010(d)........................... B 56
50 Montana Power Co.
7.30%, 12/01/2006(d)............................ B+ 47
100 Southern California Edison Co.
8.00%, 02/15/2007(d)............................ BB 109
100 Tennessee Gas Pipeline Co.
8.375%, 06/15/2032.............................. B+ 103
100 Transcontinental Gas Pipeline Corp.
6.125%, 01/15/2005.............................. B+ 102
-------
473
-------
Total corporate bonds:
non-investment grade
(cost $4,539)................................... $ 4,885
=======
</Table>
The accompanying notes are an integral part of this financial statement.
77
THE HARTFORD INCOME FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE(B)
- --------- --------
U.S. GOVERNMENT SECURITIES -- 42.9%
FEDERAL HOME LOAN MORTGAGE CORPORATION -- 10.9%
1,876 5.50% 2032........................................ $ 1,931
-------
FEDERAL NATIONAL MORTGAGE ASSOCIATION -- 11.4%
956 5.00% 2017........................................ 989
986 5.50% 2032........................................ 1,015
-------
2,004
-------
U.S. TREASURY SECURITIES -- 20.6%
340 3.25% 2007........................................ 349
2,630 3.625% 2008(e).................................... 3,296
-------
3,645
-------
Total U.S. government securities
(cost $7,539)................................... $ 7,580
=======
Total long-term investments
(cost $16,563).................................. $17,290
=======
SHORT-TERM INVESTMENTS -- 1.7%
FINANCE -- 1.7%
299 Joint Repurchase Agreement,
1.25%, 05/01/03 (Note 2f)...................... $ 299
-------
299
-------
Total short-term investments
(cost $299)..................................... $ 299
=======
Total investments in securities
(cost $16,862)(a).............................. $17,589
=======
STATEMENT OF ASSETS AND LIABILITIES:
ASSETS
Investments in securities, at value................ $17,589
Cash............................................... 1
Receivables:
Fund shares sold................................. 154
Dividends and interest........................... 248
Other assets....................................... 33
-------
Total assets....................................... 18,025
-------
LIABILITIES
Payables:
Investment securities purchased.................. 359
Fund shares redeemed............................. 1
Payable for investment advisory and management
fees (Note 3) 8
Payable for distribution fees (Note 3)........... 2
Accrued expenses................................... 3
-------
Total liabilities.................................. 373
-------
Net assets......................................... $17,652
=======
</Table>
<Table>
SUMMARY OF SHAREHOLDERS' EQUITY:
Capital stock, par value $0.001 per share; 300,000
shares authorized; 1,678 shares outstanding...... $16,977
Accumulated undistributed net investment income.... 8
Accumulated net realized loss on investments and
foreign currency transactions.................... (60)
Unrealized appreciation of investments in
securities and the translations of assets and
liabilities denominated in foreign currency...... 727
-------
Net assets......................................... $17,652
=======
Class A
Net asset value per share ($11,515 / 1,094 shares
outstanding)................................... $10.52
------
Maximum offering price per share
($10.52 / 95.5%)............................... $11.02
======
Class B
Net asset value per share ($2,765 / 263 shares
outstanding)................................... $10.52
======
Class C
Net asset value per share ($3,372 / 321 shares
outstanding)................................... $10.52
------
Maximum offering price per share
($10.52 / 99.0%)............................... $10.63
======
</Table>
<Table>
(a) At April 30, 2003, the cost of securities for federal income tax purposes
is $16,862 and the aggregate gross unrealized appreciation and
depreciation based on that cost was:
</Table>
<Table>
Unrealized appreciation............................ $ 779
Unrealized depreciation............................ (52)
------
Net unrealized appreciation........................ $ 727
======
</Table>
<Table>
(b) See Note 2b of accompanying Notes to Financial Statements regarding
valuation of securities.
(c) 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 8.90% of total net assets as of April 30, 2003.
(d) Securities sold within the terms of a private placement memorandum,
exempt form registration under Section 144A of the Securities Act of
1933, as amended, and may be sold only to dealers in that program or to
other "accredited investors". 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, 2003, was $1,981, which represents
11.22% of total net assets.
(e) U.S. Treasury inflation protection 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.
@@ Due to the presentation of the financial statements in thousands, the
number or shares and/or dollars round to zero.
* Moody's Rating.
</Table>
The accompanying notes are an integral part of this financial statement.
78
THE HARTFORD INFLATION PLUS FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
STANDARD
PRINCIPAL AND POOR'S MARKET
AMOUNT RATING VALUE(C)
- --------- ---------- --------
ASSET BACKED AND COMMERCIAL -- 2.3%
MORTGAGE SECURITIES
FINANCE -- 2.3%
$ 750 Bear Stearns Commercial Mortgage Security
2.203%, Ser 2003-BA1A Class E................... AA-
04/14/2015(d)(e) $ 750
400 CS First Boston Mortgage Securities Corp.
2.71%, Ser 2002-TFLA Class D,
11/18/2012(d)(e)................................ A 398
250 CS First Boston Mortgage Securities Corp.
4.08%, Ser 2002-FL2A Class D
12/18/2010(d)(e)................................ BBB 249
500 GMAC Commercial Mortgage Securities, Inc.
2.30375%, Ser 2003-FL1A Class C
3/11/2015(d)(e)................................. A 500
500 J.P. Morgan Chase Commercial Mortgage, Inc.
2.5375%, Ser 2003-FL1A Class C
2/17/2015(d)(e)................................. A 500
400 Lehman Brothers Commercial Mortgage Trust
2.17%, Ser 2000-LLFA Class G
11/19/2012(d)(e)................................ A 400
400 Lehman Brothers Commercial Mortgage Trust
2.70375%, Ser 2002-LLFA Class J
06/14/2017(d)(e)................................ BBB+ 396
400 Merrill Lynch Mortgage Investors, Inc.
2.33%, Ser 2000-FF1 Class M2
03/01/2031(d)................................... A 401
1,000 Salomon Brothers Mortgage Securities VII
2.32%, Ser 2003-CDCA Class E
02/15/2015(d)(e)................................ A- 1,000
--------
Total asset backed and commercial mortgage
securities
(cost $4,591)................................... $ 4,594
========
CORPORATE BONDS: INVESTMENT GRADE -- 1.0%
CONSUMER CYCLICAL -- 0.2%
500 DaimlerChrysler N.A. Holding Corp.
1.66%, Ser C 08/16/2004(d)..................... BBB+ 498
--------
FINANCE -- 0.8%
1,000 Capital One Multi-Asset Execution Trust
2.203%, 02/17/2009(d)........................... AAA 999
300 General Motors Acceptance Corp.
2.04%, 05/17/2004(d)............................ BBB 298
75 General Motors Acceptance Corp.
2.14%, 03/22/2004(d)............................ BBB 75
150 General Motors Acceptance Corp.
2.15%, 05/04/2004(d)............................ BBB 149
--------
1,521
--------
Total corporate bonds: investment grade
(cost $2,018)................................... $ 2,019
========
U.S. GOVERNMENT SECURITIES -- 95.5%
OTHER DIRECT FEDERAL OBLIGATIONS -- 0.6%
TENNESSEE VALLEY AUTHORITY
$ 900 3.375% 01/15/2007(f).............................. 1,117
--------
U.S. TREASURY SECURITIES -- 94.9%
43,410 3.00% 2012(f)..................................... 47,481
5,370 3.375% 2007 -- 2032(f)............................ 6,478
13,490 3.50% 2011(f)..................................... 15,708
35,705 3.625% 2008 -- 2028(f)............................ 46,132
39,520 3.875% 2009 -- 2029(f)............................ 51,161
17,740 4.25% 2010(f)..................................... 22,258
--------
189,218
--------
Total U.S. government securities..................
(cost $190,458) $190,335
========
Total long-term investments.......................
(cost $197,067) $196,948
========
SHORT-TERM INVESTMENTS -- 0.1%
FINANCE -- 0.1%
246 Joint Repurchase Agreement,.......................
1.25%, 05/01/2003 (Note 2f) 246
--------
Total short-term investments......................
(cost $246) $ 246
========
Total investments in securities...................
(cost $197,313)(a) $197,194
========
</Table>
The accompanying notes are an integral part of this financial statement.
79
THE HARTFORD INFLATION PLUS FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
STATEMENT OF ASSETS AND LIABILITIES:
ASSETS
Investments in securities, at value............. $197,194
Receivables:
Fund shares sold.............................. 6,529
Dividends and interest........................ 1,330
Other assets.................................... 100
--------
Total assets.................................... 205,153
--------
LIABILITIES
Payables:
Bank Overdraft................................ 132
Investment securities purchased............... 5,217
Fund shares redeemed.......................... 395
Payable for investment advisory and
management fees (Note 3).................... 86
Payable for distribution fees (Note 3)........ 27
Accrued expenses................................ 7
--------
Total liabilities............................... 5,864
--------
Net assets...................................... $199,289
========
</Table>
<Table>
SUMMARY OF SHAREHOLDERS' EQUITY:
Capital stock, par value $0.001 per share;
300,000 shares authorized; 19,250 shares
outstanding................................... $199,050
Accumulated undistributed net investment
income........................................ 187
Accumulated net realized gain on investments
and foreign currency transactions............. 171
Unrealized depreciation of investments in
securities and the translations of assets and
liabilities denominated in foreign currency... (119)
--------
Net assets...................................... $199,289
========
</Table>
<Table>
Class A
Net asset value per share ($77,456 / 7,481
shares outstanding).......................... $10.35
======
Maximum offering price per
share($10.35 / 95.5%)........................ $10.84
======
Class B
Net asset value per share ($39,009 / 3,768
shares outstanding).......................... $10.35
======
Class C
Net asset value per share ($82,824 / 8,001
shares outstanding).......................... $10.35
======
</Table>
<Table>
(a) At April 30, 2003, the cost of securities for federal income tax purposes
is $197,313 and the aggregate gross unrealized appreciation and
depreciation based on that cost was:
</Table>
<Table>
Unrealized appreciation....................... $ 305
Unrealized depreciation....................... (424)
-----
Net unrealized depreciation................... $(119)
=====
</Table>
<Table>
(b) See Note 2b of accompanying Notes to Financial Statements regarding
valuation of securities.
(c) Note: Percentage of investments as shown is the ratio of the total market
value to total net assets.
(d) Variable Rate Securities, the yield reported is the rate in effect as of
April 30, 2003.
(e) Securities sold within the terms of a private placement memorandum,
exempt form registration under Section 144A of the Securities Act of
1933, as amended, and may be sold only to dealers in that program or to
other "accredited investors". 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, 2003, was $4,193, which represents
2.10% of total net assets.
(f) Inflation-protection securities are securities in which the principal
amount is adjusted for inflation and the semi-annual interest payments
equal a fixed percentage of the inflation-adjusted principal amount.
@@ Due to the presentation of the financial statements in thousands, the
number or shares and/or dollars round to zero.
</Table>
The accompanying notes are an integral part of this financial statement.
80
THE HARTFORD INTERNATIONAL CAPITAL APPRECIATION FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE(C)
- ------ --------
COMMON STOCK -- 97.1%
AUSTRALIA -- 1.2%
12 Woolworths Ltd.+ (Retail -- Specialty Food
Stores)........................................... $ 94
------
CANADA -- 2.4%
4 Molson, Inc. Class A+ (Beverage Manufacturing)...... 94
38 Nortel Networks Corp.(a)+ (Other
Telecommunications)............................... 98
------
192
------
CHINA -- 0.7%
140 Zhejiang Expressway Co. Ltd. (Construction --
Highway, Street, and Bridge)...................... 54
------
FINLAND -- 3.2%
15 Nokia Oyj+ (Communications Equipment)............... 253
------
FRANCE -- 30.2%
11 Air France (Air Transportation Scheduled)........... 120
52 Alcatel S.A. Class A+ (Communications Equipment).... 422
46 Alstom (Miscellaneous Manufacturing)................ 94
15 Altran Technologies S.A. (Construction -- Other
Heavy and Civil Engineering)...................... 53
4 Aventis S.A. (Pharmaceutical & Medicine
Manufacturing).................................... 188
14 Axa (Insurance Carriers)............................ 219
2 BNP Paribas (Depository Credit Banking)............. 108
4 Cie Generale D'Optique Essilor International S.A.
(Nonmetallic Manuf -- Other)...................... 176
4 Rodriguez Group (Ship and Boat Building)............ 140
2 Societe Television Francaise 1 (Radio and
Television Broadcasting).......................... 67
1 Total Fina Elf S.A. (Petro and Coal -- Products
Manufacturing).................................... 66
2 Unibail Holding (Lessors of Real Estate)............ 107
26 Vivendi Universal S.A. (Other Services --
Commercial/Indust Machine & Equip)................ 419
28 Wanadoo(a) (Internet Providers & Web Search Port)... 190
------
2,369
------
GERMANY -- 4.5%
1 Bayerische Motoren Werke AG (Motor Vehicle
Manufacturing).................................... 33
3 Deutsche Bank AG (Depository Credit Banking)........ 134
8 Deutsche Telekom AG(a) (Wired Telecommunications
Carriers)......................................... 110
2 Siemens AG (Navigate, Measure, Control
Instruments)...................................... 74
------
351
------
HONG KONG -- 2.3%
81 Cathay Pacific Airways Ltd. (Air Transportation
Scheduled)........................................ 98
62 CNOOC Ltd. (Petro and Coal -- Oil & Gas
Extraction)....................................... 81
------
179
------
INDIA -- 1.5%
8 Ranbaxy Laboratories Ltd. GDR (Pharmaceutical &
Medicine Manufacturing).......................... 120
------
IRELAND -- 2.0%
4 Ryanair Holdings plc ADR(a)+ (Air Transportation
Scheduled)....................................... 159
------
ISRAEL -- 1.6%
3 Teva Pharmaceutical Industries Ltd. ADR+
(Pharmaceutical & Medicine Manufacturing)........ 126
------
ITALY -- 1.3%
24 UniCredito Italiano S.p.A. (Commercial Banking)... 105
------
JAPAN -- 6.4%
4 Fanuc Ltd. (Electrical Equip Manuf -- Component
Other)........................................... 143
1 Nintendo Co. Ltd. (Toy Manufacturing).............. 86
5 Shionogi & Co. Ltd. (Pharmaceutical & Medicine
Manufacturing)................................... 59
@@ Yahoo Japan Corp.(a) (Internet Providers & Web
Search Port)..................................... 213
------
501
------
NETHERLANDS -- 5.6%
16 Aegon N.V. (Insurance Carriers).................... 164
9 ING Groep N.V. (International Trade Financing
(Foreign Banks))................................. 143
2 Unilever N.V. NY Shares (Food
Manufacturing -- Other).......................... 129
------
436
------
NORWAY -- 0.7%
15 Tandberg ASA(a) (Other Telecommunications)......... 58
------
RUSSIA -- 2.8%
1 LUKOIL Holdings (Petro and Coal -- Oil & Gas
Extraction)...................................... 69
3 Mining and Metallurgical Co. Norilsk Nickel ADR
(Mining -- Metal Ore)............................ 70
2 Mobile Telesystems ADR (Other Telecommunications).. 77
------
216
------
SOUTH KOREA -- 1.0%
1 Samsung Electronics Co. Ltd. GDR(e) (Audio and
Video Equipment)................................. 75
------
SWITZERLAND -- 2.5%
4 Credit Suisse Group (Monetary Authorities --
Central Bank).................................... 107
3 Logitech International S.A.(a)+ (Computer and
Peripheral)...................................... 92
------
199
------
TAIWAN -- 2.4%
111 Compal Electronics, Inc. (Computer and
Peripheral)...................................... 120
58 Formosa Plastic Corp. (Plastics Product
Manufacturing)................................... 72
------
192
------
</Table>
81
THE HARTFORD INTERNATIONAL CAPITAL APPRECIATION FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE(C)
- ------ --------
COMMON STOCKS -- (CONTINUED)
THAILAND -- 2.7%
130 Kasikornbank Public Co. Ltd.(a) (Commercial.
Banking)......................................... $ 110
126 Siam Commercial Bank Public Co. Ltd.(a)
(International Trade Financing (Foreign Banks)).. 101
------
211
------
UNITED KINGDOM -- 19.5%
3 AstraZeneca plc (Pharmaceutical & Medicine
Manufacturing)................................... 98
44 British Airways plc(a) (Air Transportation
Scheduled)....................................... 88
10 British Sky Broadcasting Group plc(a) (Cable and
Other Program Distribution)...................... 104
13 Bunzl plc (Paper (Converted) Product
Manufacturing)................................... 93
26 Burberry Group plc (Apparel Manufacturing --
Accessories and Other)........................... 107
19 Capita Group plc (Public -- Administration of
Human Resource Programs)......................... 76
19 Compass Group plc (Accommodation & Food
Serv -- Special Food Services)................... 88
18 Imperial Tobacco Group plc (Tobacco
Manufacturing)................................... 296
216 Invensys plc (Miscellaneous Manufacturing)........ 51
25 Kingfisher plc (Retail -- Other General
Merchandise Stores).............................. 99
4 Royal Bank of Scotland Group plc (International
Trade Financing (Foreign Banks))................. 108
163 Vodafone Group plc (Wireless. Telecommunications
Carriers)........................................ 323
------
1,531
------
UNITED STATES -- 2.6%
7 Bunge Ltd.+ (Food Manufacturing -- Grain and
Oilseed Milling)................................. 204
------
Total common stock
(cost $6,925).................................... $7,625
======
PREFERRED STOCKS -- 2.4%
GERMANY -- 2.4%
3 Wella AG (Health and Personal Care Stores)......... $ 185
------
Total preferred stocks
(cost $170)...................................... $ 185
======
Total long-term investments
(cost $7,095).................................... $7,810
======
SHORT-TERM INVESTMENTS -- 14.3%
BANKING
$264 Joint Repurchase Agreement,
1.27%, 05/01/2003 (Note 2f)................... $ 264
COLLATERAL FOR SECURITIES LENDING
858 Navigator Prime Portfolio....................... 858
------
Total short-term investments
(cost $1,122)................................. $1,122
======
Total investments in securities
(cost $8,217)(b).............................. $8,932
======
STATEMENT OF ASSETS AND LIABILITIES:
ASSETS
Investments in securities, at value......................... $8,932
Cash........................................................ 1
Foreign currency on deposit with custodian (cost
$4)....................................................... 4
Unrealized appreciation in forward foreign currency
contracts................................................. 2
Receivables:
Investment securities sold................................ 143
Fund shares sold.......................................... 24
Dividends and interest.................................... 19
Other assets................................................ 17
-----
Total assets................................................ 9,142
------
LIABILITIES
Payables:
Payable upon return of securities loaned (Note 2)......... 858
Investment securities purchased........................... 340
Fund shares redeemed...................................... 79
Payable for investment advisory and management
fees (Note 3)........................................... 6
Payable for distribution fees (Note 3).................... 1
Accrued expenses............................................ 8
------
Total liabilities........................................... 1,292
------
Net assets.................................................. $7,850
======
SUMMARY OF SHAREHOLDERS' EQUITY:
Capital stock, par value $0.001 per share; 300,000
shares authorized; 1,066 shares outstanding .............. $8,985
Accumulated undistributed net investment loss............... (16)
Accumulated net realized loss on investments and
foreign currency transactions............................. (1,834)
Unrealized appreciation of investments in securities
and the translations of assets and liabilities
denominated in foreign currency........................... 715
------
Net assets.................................................. $7,850
======
</Table>
82
- --------------------------------------------------------------------------------
<Table>
Class A
Net asset value per share ($5,437 / 735 shares
outstanding).................................. $7.39
-----
Maximum offering price per
share($7.39 / 94.5%).......................... $7.82
=====
Class B
Net asset value per share ($1,001 / 138 shares
outstanding).................................. $7.30
=====
Class C
Net asset value per share ($1,188 / 163 shares
outstanding).................................. $7.30
-----
Maximum offering price per
share($7.30 / 99.0%).......................... $7.37
=====
Class Y
Net asset value per share ($224 / 30 shares
outstanding).................................. $7.43
=====
</Table>
<Table>
(a) Presently non-income producing.
(b) At April 30, 2003, the cost of securities for federal income tax purposes
was $8,366 and the aggregate gross unrealized appreciation and
depreciation based on that cost was:
</Table>
<Table>
Unrealized appreciation............................ $659
Unrealized depreciation............................ (93)
----
Net unrealized appreciation........................ $566
====
</Table>
<Table>
(c) See Note 2b of accompanying Notes to Financial Statements regarding
valuation of securities.
(d) Note: Percentage of investments as shown is the ratio of the total market
value to total net assets.
(e) Security sold within the terms of a private placement memorandum, exempt
from registration under Section 144A of the Securities Act of 1933, as
amended, and may be sold only to dealers in that program or to other
"accredited investors." Pursuant to guidelines adopted by the Board of
Directors, this issue is deemed to be liquid. The aggregate value of this
security at April 30, 2003, was $75, which represents .96% of total net
assets.
+ Security is fully or partially on loan as of April 30, 2003. See Note 2d
of accompanying Notes to Financial Statements.
@@ Due to the presentation of the financial statements in thousands, the
number or shares and/or dollars round to zero.
</Table>
@@@FORWARD FOREIGN CURRENCY CONTRACTS OUTSTANDING AT APRIL 30, 2003
<Table>
<Caption>
CONTRACT DELIVERY APPRECIATION
DESCRIPTION MARKET VALUE AMOUNT DATE (DEPRECIATION)
- ----------- ------------ -------- ---------- --------------
Australian Dollar (Buy) $11 $11 05/01/2003 $ @@
Euro (Buy) 76 75 05/02/2003 1
Euro (Buy) 14 14 05/05/2003 @@
Euro (Buy) 66 66 05/06/2003 @@
Hong Kong Dollar (Buy) 25 25 05/02/2003 @@
Hong Kong Dollar (Buy) 6 6 05/05/2003 @@
Japanese Yen (Buy) 42 42 05/01/2003 @@
Norwegian Krone (Buy) 60 59 05/05/2003 1
Japanese Yen (Sell) 12 12 05/06/2003 @@
-----
$ 2
=====
</Table>
83
THE HARTFORD INTERNATIONAL OPPORTUNITIES FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE(C)
- --------- --------
COMMON STOCK -- 92.7%
AUSTRALIA -- 0.6%
78 News Corp. Ltd (Newspaper, Book and Periodical)... $ 558
--------
AUSTRIA -- 1.0%
99 Telekom Austria AG(a)(e) (Other
Telecommunications)............................. 1,016
--------
BELGIUM -- 1.3%
74 Fortis N.A. (Monetary Authorities -- Central
Bank)........................................... 1,232
BRAZIL -- 1.1%
15 Banco Bradesco S.A.+ (Commercial Banking)......... 311
43 Petroleo Brasileiro S.A. ADR+ (Petro and
Coal -- Oil & Gas Extraction)................... 792
--------
1,103
--------
CANADA -- 4.1%
55 Abitibi-Consolidated, Inc.+ (Paper, Pulp, and
Paperboard Mills)............................... 385
21 Canadian Imperial Bank of Commerce (Monetary
Authorities -- Central Bank).................... 713
28 Canadian National Railway Co.
(Transportation -- Rail)........................ 1,342
62 National Bank of Canada (Depository Credit
Banking)........................................ 1,506
--------
3,946
--------
CHINA -- 0.3%
1,400 China Petroleum & Chemical Corp. Class H (Petro
and Coal -- Oil & Gas Extraction)............... 276
--------
FINLAND -- 2.4%
137 Nokia Oyj (Communications Equipment).............. 2,311
--------
FRANCE -- 13.1%
73 Alcatel S.A. Class A+ (Communications Equipment)... 602
46 Aventis S.A.+ (Pharmaceutical & Medicine
Manufacturing)................................... 2,346
45 Axa+ (Insurance Carriers).......................... 680
26 BNP Paribas (Depository Credit Banking)............ 1,202
19 Cap Gemini S.A.+ (Computer Systems Design &
Related Services)................................ 602
14 Carrefour S.A.+ (Retail -- Grocery Stores)......... 617
3 Cie Generale D'Optique Essilor International S.A.
(Nonmetallic Manuf -- Other)..................... 132
21 France Telecom S.A.(a)+ (Other
Telecommunications).............................. 493
26 France Telecom S.A.(a)(e) (Other
Telecommunications).............................. 597
14 Lafarge S.A.+ (Nonmetallic Manuf -- Cement and
Concrete Product)................................ 961
16 Total Fina Elf S.A. (Petro and Coal -- Products
Manufacturing)................................... 2,033
29 Vivendi Environnement+ (Waste. Management -- Waste
Treatment and Disposal).......................... 633
86 Vivendi Universal S.A. (Other
Services -- Commercial/Indust Machine & Equip)... 1,393
73 Wanadoo(a) (Internet Providers & Web Search Port).. 498
--------
12,789
--------
GERMANY -- 5.3%
9 Adidas-Salomon AG+ (Footwear Manufacturing)....... 750
19 BASF AG (Other Chemical and Preparation).......... 858
8 Deutsche Bank AG (Depository Credit Banking)...... 428
106 Deutsche Telekom AG(a) (Wired Telecommunications
Carriers)....................................... 1,413
20 E.ON AG+ (Miscellaneous Manufacturing)............ 944
28 Metro AG+ (Retail -- Other Miscellaneous Store
Retailers)...................................... 772
--------
5,165
--------
HONG KONG -- 0.3%
280 Cathay Pacific Airways Ltd. (Air Transportation
Scheduled)...................................... 337
--------
IRELAND -- 0.8%
117 Ryanair Holdings plc(a) (Air Transportation
Scheduled)...................................... 805
--------
ITALY -- 2.2%
240 Snam Rete Gas S.p.A. (Petro and Coal -- Natural
Gas Distribution)............................... 870
282 UniCredito Italiano S.p.A.+ (Commercial Banking).. 1,234
--------
2,104
--------
JAPAN -- 12.8%
97 Asahi Glass Co. Ltd.+ (Nonmetallic. Manuf -- Glass
and Glass Product).............................. 516
14 Canon, Inc. (Semiconductor, Electronic Compon).... 566
42 Citizen Watch Co. Ltd.+ (Retail -- Jewelry,
Luggage, Leather Goods Stores).................. 222
52 Dai Nippon Printing Co. Ltd. (Printing and
Related Support Activities)..................... 505
32 Fuji Photo Film Co. Ltd. (Miscellaneous
Manufacturing).................................. 816
22 Fujisawa Pharmaceutical Co. Ltd.+ (Pharmaceutical
& Medicine Manufacturing)....................... 367
24 Honda Motor Co. Ltd. (Retail -- Other Motor
Vehicle Dealers)................................ 782
11 Hoya Corp. (Electromedical Manufacturing)......... 644
41 Kao Corp. (Retail -- Other General Merchandise
Stores)......................................... 748
53 Mitsubishi Corp. (Wholesalers -- Misc Durable
Goods Merch).................................... 315
@@ Mitsubishi Tokyo Financial Group, Inc. (Monetary
Authorities -- Central Bank).................... 197
11 Nintendo Co. Ltd. (Toy Manufacturing)............. 844
</Table>
The accompanying notes are an integral part of this financial statement.
84
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE(C)
- --------- --------
COMMON STOCK -- (CONTINUED)
JAPAN -- (CONTINUED)
10 Nitto Denko Corp. (Basic Chemical Manufacturing)....$ 293
47 Nomura Securities Co. Ltd.+ (Other Financial
Investment Activities)............................ 465
@@ NTT DoCoMo, Inc. (Wireless Telecommunications
Carriers)......................................... 934
5 Rohm Co. Ltd. (Semiconductor, Electronic
Components)....................................... 495
10 Secom Co. Ltd. (Waste Management-Investigation &
Security Services)................................ 233
9 Shin-Etsu Chemical Co. Ltd. (Resin, Synthetic
Rubber, Filaments)................................ 269
63 Shionogi & Co. Ltd. (Pharmaceutical & Medicine
Manufacturing).................................... 748
1 SKY Perfect Communications, Inc.(a) (Cable and
Other Program Distribution)....................... 653
122 Sumitomo Chemical Co. Ltd. (Basic Chemical
Manufacturing)................................... 330
15 Takeda Chemical Industries Ltd. (Pharmaceutical &
Medicine Manufacturing).......................... 535
145 Tokyo Gas Co. Ltd. (Utilities -- Electric
Generation, Trans and Distrib)................... 472
24 Trend Micro, Inc.(a) (Other Information Services).. 286
@@ Yahoo Japan Corp.(a) (Internet Providers & Web
Search Port)..................................... 225
--------
12,460
--------
MALAYSIA -- 0.4%
180 Resorts World Berhad (Recreation -- Other
Amusement & Recreation Indust)................... 396
--------
MEXICO -- 1.1%
34 America Movil S.A. de C.V. Ser L ADR+
(Telecommunication Resellers).................... 574
17 Grupo Televisa S.A. ADR(a) (Radio and Television
Broadcasting).................................... 516
--------
1,090
--------
NETHERLANDS -- 8.0%
88 Aegon N.V.+ (Insurance Carriers).................. 899
60 ASML Holding N.V.(a) (Semiconductor, Electronic
Compon)......................................... 518
96 ING Groep N.V.+ (International Trade Financing
(Foreign Banks))................................ 1,564
162 Koninklijke (Royal) KPN N.V.(a) (Wired
Telecommunications Carriers).................... 1,079
66 Royal Dutch Petroleum Co.+ (Petro and
Coal -- Products Manufacturing)................. 2,700
66 TPG N.V. (Postal Service)......................... 1,027
--------
7,787
--------
NEW ZEALAND -- 0.7%
55 Telecom Corp. of New Zealand Ltd. (Other
Telecommunications).............................. 147
211 Telecom Corp. of New Zealand Ltd.(e) (Other
Telecommunications).............................. 566
--------
713
--------
SINGAPORE -- 0.7%
73 Singapore Press Holdings Ltd. (Newspaper, Book
and Periodical).................................. $ 678
--------
SOUTH AFRICA -- 0.6%
20 AngloGold Ltd. ADR+ (Mining -- Metal Ore)......... 559
--------
SOUTH KOREA -- 2.2%
87 Kia Motors Corp. (Motor Vehicle Manufacturing).... 602
14 Kookmin Bank (Commercial Banking)................. 390
2 Samsung Electronics Co. Ltd. (Semiconductor,
Electronic Components).......................... 613
4 SK Telecom Co. Ltd. (Wireless Telecommunications
Carriers)....................................... 566
--------
2,171
--------
SPAIN -- 0.6%
28 Industria de Diseno Textil S.A. (Inditex)
(Wholesalers -- Apparel, Piece Goods & Notions
Merch)......................................... 550
--------
SWEDEN -- 1.7%
102 Gambro AB Class A+ (Medical Equipment & Supplies
Manufacturing).................................. 575
20 Svenska Handelsbanken AB Class A+ (Depository
Credit Banking) 313
109 Swedish Match AB+ (Tobacco Manufacturing)......... 805
--------
1,693
--------
SWITZERLAND -- 5.6%
10 Ciba Specialty Chemicals AG+ (Other Chemical and
Preparation) 690
9 Nestle S.A.+ (Food Manufacturing -- Other)........ 1,889
21 Novartis AG (Pharmaceutical & Medicine
Manufacturing).................................. 825
12 Roche Holding AG (Pharmaceutical & Medicine
Manufacturing).................................. 765
24 STMicroelectronics N.V. (Semiconductor,
Electronic Compon).............................. 502
15 Syngenta AG+ (Farming -- Support Activities for
Crop Production)............................... 791
--------
5,462
--------
TAIWAN -- 1.6%
240 Quanta Computer, Inc. (Computer and Peripheral)... 420
101 Taiwan Semiconductor Manufacturing Co. Ltd.(a)
(Semiconductor, Electronic Components).......... 139
74 Taiwan Semiconductor Manufacturing Co. Ltd.
ADR(a)+ (Semiconductor, Electronic Components).. 615
</Table>
The accompanying notes are an integral part of this financial statement.
85
THE HARTFORD INTERNATIONAL OPPORTUNITIES FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE(C)
- --------- --------
COMMON STOCK -- (CONTINUED)
TAIWAN -- (CONTINUED)
539 United Microelectronics Corp.(a) (Semiconductor,
Electronic Components).......................... $ 309
22 United Microelectronics Corp. ADR(a)
(Semiconductor, Electronic Components).......... 70
--------
1,553
--------
THAILAND -- 1.2%
704 Kasikornbank Public Co. Ltd.(a) (Commercial
Banking)........................................ 595
703 Siam Commercial Bank Public Co. Ltd.(a)
(International Trade Financing (Foreign Banks)).. 562
--------
1,157
--------
UNITED KINGDOM -- 20.7%
103 Amersham plc (Medical Equipment & Supplies
Manufacturing).................................. 741
66 AstraZeneca plc (Pharmaceutical & Medicine
Manufacturing).................................. 2,585
87 Aviva plc (Insurance Carriers).................... 610
295 BP plc (Petro and Coal -- Products Manufacturing) 1,872
276 British Airways plc(a) (Air Transportation
Scheduled)...................................... 558
336 Compass Group plc (Accommodation & Food
Serv -- Special Food Services).................. 1,547
119 Diageo plc (Wholesalers -- Beer, Wine, Alcoholic
Beverage Merch)................................. 1,314
102 GlaxoSmithKline plc (Medical and Diagnostic
Laboratories)................................... 2,046
103 HSBC Holdings plc (Depository Credit. Banking).... 1,125
68 Imperial Tobacco Group plc (Tobacco
Manufacturing).................................. 1,140
290 New Dixons Group plc (Retail -- Electronics and
Appliance Stores)............................... 515
90 Royal Bank of Scotland Group plc. (International
Trade Financing (Foreign Banks))................ 2,355
1,923 Vodafone Group plc (Wireless Telecommunications
Carriers)....................................... 3,795
--------
20,203
--------
UNITED STATES -- 2.3%
38 Accenture Ltd. Class A(a) (Management,
Scientific, and Tech Consulting Svcs)........... 604
12 Schlumberger Ltd. (Petro and Coal -- Mining
Support Activities)............................. 509
34 Tyco International Ltd. (with rights)+
(Miscellaneous Manufacturing)................... 537
7 XL Capital Ltd. Class A (with rights)+ (Insurance
Carriers)....................................... 593
--------
2,243
--------
Total common stock................................
(cost $91,584) $ 90,357
========
<Caption>
PRINCIPAL
AMOUNT
- ---------
SHORT-TERM INVESTMENTS -- 31.2%
BANKING
$7,256 Joint Repurchase Agreement,.......................
1.27%, 05/01/2003 (Note 2f) 7,256
--------
COLLATERAL FOR SECURITIES LENDING
23,180 Navigator Prime Portfolio......................... 23,180
--------
Total short-term investments......................
(cost $30,436) $ 30,436
========
Total investments in securities...................
(cost $122,020)(b) $120,793
========
</Table>
<Table>
STATEMENT OF ASSETS AND LIABILITIES:
ASSETS
Investments in securities, at value........................... $120,793
Cash.......................................................... 1
Foreign currency on deposit with custodian (cost
$94)........................................................ 94
Unrealized appreciation in forward foreign currency
contracts................................................... 3
Receivables:
Investment securities sold.................................. 1,673
Fund shares sold............................................ 1,038
Dividends and interest...................................... 561
Other assets.................................................. 67
--------
Total assets.................................................. 124,230
--------
LIABILITIES
Payables:
Payable upon return of securities loaned (Note
2)........................................................ 23,180
Unrealized depreciation on forward foreign
currency contracts........................................ 3
Investment securities purchased............................. 2,779
Fund shares redeemed........................................ 655
Payable for investment advisory and management
fees (Note 3)............................................. 65
Payable for distribution fees (Note 3)...................... 9
Accrued expenses.............................................. 99
--------
Total liabilities............................................. 26,790
--------
Net assets.................................................... $ 97,440
========
</Table>
The accompanying notes are an integral part of this financial statement.
86
- --------------------------------------------------------------------------------
<Table>
SUMMARY OF SHAREHOLDERS' EQUITY:
Capital stock, par value $0.001 per share; 300,000
shares authorized; 12,473 shares outstanding...... $164,343
Accumulated undistributed net investment income..... 85
Accumulated net realized loss on investments and
foreign currency transactions..................... (65,781)
Unrealized depreciation of investments in securities
and the translations of assets and liabilities
denominated in foreign currency................... (1,207)
--------
Net assets.......................................... $ 97,440
========
</Table>
<Table>
Class A
Net asset value per share ($62,459 / 7,892 shares
outstanding)....................................... $7.91
-----
Maximum offering price per share ($7.91 / 94.5%)..... $8.37
=====
Class B
Net asset value per share ($17,396 / 2,293 shares
outstanding)....................................... $7.59
=====
Class C
Net asset value per share ($12,759 / 1,693 shares
outstanding)....................................... $7.54
-----
Maximum offering price per share ($7.54 / 99.0%)..... $7.62
=====
Class Y
Net asset value per share ($4,826 / 595 shares
outstanding)....................................... $8.10
=====
</Table>
<Table>
(a) Presently non-income producing.
(b) At April 30, 2003, the cost of securities for federal income tax purposes
was $124,044 and the aggregate gross unrealized appreciation and
depreciation based on that cost was:
</Table>
<Table>
Unrealized appreciation........................ $ 3,217
Unrealized depreciation........................ (6,468)
---------
Net unrealized depreciation.................... $ (3,251)
=========
</Table>
<Table>
(c) See Note 2b of accompanying Notes to Financial Statements regarding
valuation of securities.
(d) Note: Percentage of investments as shown is the ratio of the total market
value to total net assets.
(e) Securities issued within terms of a private placement memorandum, exempt
from registration under Section 144A of the Securities Act of 1933, as
amended, and may be sold only to dealers in that program or to other
"accredited investors". 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, 2003, was $2,179, which represents 2.24%
of total net assets.
+ Security is fully or partially on loan as of April 30, 2003. See Note 2d
of accompanying Notes to Financial Statements.
@@ Due to the presentation of the financial statements in thousands, the
number of shares and/or dollars round to zero.
</Table>
@@@FORWARD FOREIGN CURRENCY CONTRACTS OUTSTANDING AT APRIL 30, 2003
<Table>
<Caption>
UNREALIZED
CONTRACT DELIVERY APPRECIATION
DESCRIPTION MARKET VALUE AMOUNT DATE (DEPRECIATION)
- ----------- ------------ -------- ---------- --------------
British Pounds (Sell) $99 $98 05/06/2003 $ (1)
Euro (Sell) 183 181 05/05/2003 (2)
Japanese Yen (Sell) 136 136 05/06/2003 @@
Swedish Krona (Sell) 313 313 05/06/2003 @@
British Pounds (Buy) 415 413 05/02/2003 2
Euro (Buy) 44 44 05/02/2003 @@
Euro (Buy) 544 543 05/06/2003 1
Hong Kong Dollars (Buy) 342 342 05/05/2003 @@
Thailand Baht (Buy) 99 99 05/07/2003 @@
------
$ @@
======
</Table>
The accompanying notes are an integral part of this financial statement.
87
THE HARTFORD INTERNATIONAL SMALL COMPANY FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE(C)
- --------- --------
COMMON STOCK -- 95.3%
AUSTRALIA -- 1.5%
112 David Jones Ltd.+ (Retail -- Department Stores)... $ 74
56 Neverfail Springwater Ltd. (Beverage
Manufacturing).................................. 85
-------
159
-------
BRAZIL -- 0.3%
11 Cia de Concessoes Rodoviarias
(Transportation -- Support Activities For Road).. 33
-------
CHINA -- 0.9%
470 Bejing Capital International Airport Co. Ltd.
(Air Transportation Scheduled)................. 102
-------
DENMARK -- 2.0%
3 Carlsberg A/S Class B (Beverage Manufacturing)... 108
4 Novozymes A/S Class B+ (Scientific Research &
Development Services).......................... 105
-------
213
-------
FINLAND -- 2.9%
21 Elisa Oyj (Other Telecommunications).............. 160
10 Pohjola Group plc+ (Insurance Carriers)........... 151
-------
311
-------
FRANCE -- 12.6%
40 Alstom+ (Miscellaneous Manufacturing)............. 80
5 April Group+ (Agencies, Brokerages, Other
Insurance Activities)........................... 69
2 Camaieu (Retail -- Clothing Stores)............... 78
4 Cegedim S.A. (Management, Scientific, and Tech
Consulting Svcs)................................ 110
1 Cegid (Computer and Peripheral)................... 35
6 Dassault Systemes S.A.+ (Information -- Software
Publishers)..................................... 179
2 Eiffage S.A. (Construction -- Other Heavy
Construction)................................... 165
16 NRJ Group+ (Radio and Television. Broadcasting)... 244
6 Remy Cointreau S.A. (Beverage Manufacturing)...... 173
4 Societe BiC S.A. (Wholesalers -- Miscellaneous
Durable Goods)................................... 146
7 Wavecom S.A.(a)+ (Wireless. Telecommunications
Carriers)........................................ 85
-------
1,364
-------
GERMANY -- 4.9%
9 GfK AG (Specialized Design Services).............. 134
4 Heidelberger Druckmaschinen AG (Machinery
Manuf -- Commercial & Service Industry)......... 83
2 Hornbach Holding AG (Retail -- Building Material
and Supplies Dealers)........................... 78
6 Jungheinrich AG (Machinery Manuf -- Industrial
Machinery)...................................... 75
1 Krones AG+ (Machinery Manuf -- Industrial
Machinery)...................................... 81
2 Vossloh AG+ (Electrical Equip Manuf -- Component
Other)........................................... 75
-------
526
-------
GREECE -- 2.0%
8 Alpha Bank A.E. (Commercial Banking).............. 105
12 Stet Hellas Telecomm S.A. -- ADR (Communications
Equipment)...................................... 110
-------
215
-------
HONG KONG -- 1.0%
74 Cosco Pacific Ltd. (Other Transportation
Equipment)...................................... 64
72 Shangri-La Asia Ltd. (Accommodation & Food
Serv -- Traveler)................................ 45
-------
109
-------
ITALY -- 4.2%
41 Banca Popolare di Milano S.c.r.l.+ (International
Trade Financing (Foreign Banks))................. 169
28 Caltagirone Editore S.p.A.+ (Newspaper, Book and
Periodical)..................................... 164
6 Ericsson S.p.A. (Communications Equipment)........ 122
-------
455
-------
JAPAN -- 26.6%
7 Alpine Electronics, Inc.+ (Audio and Video
Equipment)......................................... 79
8 Asatsu-DK, Inc. (Advertising & Related Services)..... 134
1 Bellsystem 24, Inc.+ (Other Information Services).... 90
5 Benesse Corp. (Education -- Other Schools and
Instruction)....................................... 61
9 BML, Inc.+ (Pharmaceutical & Medicine
Manufacturing)..................................... 116
10 C&S Co. Ltd. (Retail -- Other Miscellaneous Store
Retailers)......................................... 134
13 Citizen Watch Co. Ltd.+ (Retail -- Jewelry,
Luggage, Leather Goods Stores)..................... 69
8 FamilyMart Co. Ltd. (Retail -- Other
Miscellaneous Store Retailers)..................... 160
3 Fancl Corp. (Health and Personal Care Stores)........ 94
7 Fujimi, Inc. (Nonmetallic Manuf -- Other)............ 156
@@ Hokuto Corp. (Food Manufacturing -- Other)........... 6
2 Hutech Norin Co. Ltd. (Freight Trucking --
Specialized)....................................... 19
20 INES Corp. (Data Process, Hosting & Related Serv).... 122
5 Kadokawa Holdings, Inc. (Newspaper, Book and
Periodical)........................................ 80
5 Kirin Beverage Corp. (Beverage Manufacturing)........ 80
</Table>
The accompanying notes are an integral part of this financial statement.
88
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE(C)
- --------- --------
COMMON STOCK -- (CONTINUED)
JAPAN -- (CONTINUED)
7 Kissei Pharmaceutical Co. Ltd.+ (Medical
Equipment & Supplies Manufacturing)............. $ 82
9 N.I.C. Corp. (Specialized Design Services)........ 77
4 Nagaileben Co. Ltd. (Apparel Manufacturing -- Cut
and Sew Apparel)................................ 108
32 Nippon Shinyaku Co. Ltd+ (Pharmaceutical &
Medicine Manufacturing)......................... 180
1 Nippon Television Network Corp. (Radio and
Television Broadcasting)........................ 84
24 Nissin Co. Ltd.(a)+ (Other Financial Investment
Activities)..................................... 105
16 Santen Pharmaceutucal Co. Ltd.+ (Drugs &
Druggists Sundries Wholesalers)................. 163
10 Shimano, Inc. (Recreation -- Other Amusement &
Recreation Indust).............................. 159
3 Shinko Electric Industries Co. Ltd. (Electrical
Equip Manuf -- Component Other)................. 44
14 SRL, Inc.+ (Pharmaceutical & Medicine
Manufacturing).................................. 117
10 Towa Pharmaceutical Co. Ltd. (Pharmaceutical &
Medicine Manufacturing)......................... 137
9 Tsuruha Co. Ltd.+ (Retail -- Other General
Merchandise Stores)............................. 137
19 Zeon Corp.+ (Resin, Synthetic Rubber, Filaments) 92
-------
2,885
-------
NETHERLANDS -- 1.3%
1 IHC Caland N.V. (Machinery Manuf -- Agri,
Construction, Mining)........................... 55
7 SNT Groep N.V.(a) (Management of Companies and
Enterprises).................................... 82
-------
137
-------
NEW ZEALAND -- 1.0%
84 Tower Ltd.+ (Other Financial Investment
Activities)..................................... 105
-------
SINGAPORE -- 3.3%
19 Fraser & Neave Ltd. (Beverage Manufacturing)...... 86
193 MobileOne (Asia) Ltd.(a) (Wireless
Telecommunications Carriers).................... 137
197 Singapore Exchange Ltd. (Securities and Commodity
Exchanges)...................................... 135
-------
358
-------
SOUTH KOREA -- 4.7%
2 Cheil Communications, Inc. (Advertising & Related
Services)....................................... 152
32 KorAm Bank (Commercial Banking)................... 209
5 KT&G Corp. (Tobacco Manufacturing)................ 71
1 Nong Shim Co. Ltd. (Wholesalers -- Grocery, and
Related Product)................................ 78
-------
510
-------
SPAIN -- 2.3%
58 Telefonica Publicidad e Informacion S.A. TPI+
(Advertising & Related Services)................ 250
-------
SWEDEN -- 4.8%
16 Alfa Laval AB (Fabricated Metal Manuf- Boiler,
Tank, Shipping Cont)............................ 155
8 Autoliv, Inc. (Motor Vehicle Parts Manufacturing). 189
7 Eniro AB+ (Newspaper, Book and Periodical)........ 51
9 Modern Times Group AB(a) (Radio and Television
Broadcasting).................................... 104
1 Munters AB (Machinery Manuf -- Heating, AC,
Commercial Refrig)............................... 19
-------
518
-------
SWITZERLAND -- 3.7%
1 Actelion Ltd.(a) (Pharmaceutical & Medicine
Manufacturing)................................... 89
1 Bachem AG (Pharmaceutical & Medicine
Manufacturing)................................... 57
@@ Lindt & Spruengli AG (Food Manufacturing -- Sugar
& Confectionery Product)......................... 62
10 Phonak Holding AG (Medical Equipment & Supplies
Manufacturing)................................... 103
2 Swiss Life Holding(a) (Other Financial Investment
Activities)...................................... 94
-------
405
-------
UNITED KINGDOM -- 15.5%
29 Alvis plc (Aerospace Product and Parts
Manufacturing)................................... 76
142 Arm Holdings plc(a) (Semiconductor, Electronic
Compon).......................................... 145
17 Bulmer (H.P.) Holdings plc (Beverage
Manufacturing)................................... 89
9 Cambridge Antibody Technology Group plc(a)
(Pharmaceutical & Medicine Manufacturing)........ 58
59 Carlton Communications plc (Motion Picture &
Video Industry).................................. 99
24 Croda International plc (Basic Chemical
Manufacturing)................................... 99
60 EMI Group plc (Sound Recording Industries)......... 116
41 FirstGroup plc (Transportation -- Rail)............ 159
65 Informa Group plc (Other Information Services).... 201
8 NDS Group plc ADR(a) (Internet Providers & Web
Search Port)..................................... 99
41 RM plc (Educational Support Services).............. 72
74 Rolls-Royce plc (Machinery Manuf -- Engine,
Turbine, Power Trans)............................ 107
43 Sage Group plc (Information -- Software
Publishers)...................................... 94
127 Securicor plc (Public -- National Security &
International Affairs)........................... 191
</Table>
The accompanying notes are an integral part of this financial statement.
89
THE HARTFORD INTERNATIONAL SMALL COMPANY FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE(C)
- --------- --------
COMMON STOCK -- (CONTINUED)
UNITED KINGDOM -- (CONTINUED)
39 Shanks Group plc (Waste Management and Other
Remediation Services)........................... $ 57
6 UMECO plc (Aerospace Product and Parts
Manufacturing).................................. 22
-------
1,684
-------
Total common stock
(cost $9,678)................................... $10,339
=======
<Caption>
PRINCIPAL
AMOUNT
- ---------
SHORT-TERM INVESTMENTS -- 26.1%
BANKING -- 6.7%
$ 723 Joint Repurchase Agreement,.......................
1.27%, 05/01/2003 (Note 2f) $ 723
COLLATERAL FOR SECURITIES LENDING -- 19.4%
2,112 Navigator Prime Portfolio......................... 2,112
-------
Total short-term investments......................
(cost $2,835) $ 2,835
=======
Total investments in securities...................
(cost $12,513)(b) $13,174
=======
</Table>
<Table>
STATEMENT OF ASSETS AND LIABILITIES:
ASSETS
Investments in securities, at value........................... $13,174
Cash.......................................................... 1
Unrealized appreciation in forward foreign
currency contracts.......................................... 2
Receivables:
Investment securities sold.................................. 110
Fund shares sold............................................ 102
Dividends and interest...................................... 69
Other assets.................................................. 21
-------
Total assets.................................................. 13,479
-------
LIABILITIES
Payables:
Payable upon return of securities loaned (Note
2)........................................................ 2,112
Unrealized depreciation on forward foreign
currency contracts ....................................... 1
Investment securities purchased............................. 419
Fund shares redeemed........................................ 87
Payable for investment advisory and management
fees (Note 3)............................................. 8
Payable for distribution fees (Note 3)...................... 1
Accrued expenses.............................................. 7
-------
Total liabilities............................................. 2,635
-------
Net assets.................................................... $10,844
=======
</Table>
<Table>
SUMMARY OF SHAREHOLDERS' EQUITY:
Capital stock, par value $0.001 per share;
300,000 shares authorized; 1,130 shares
outstanding................................................. $10,679
Accumulated undistributed net investment
income...................................................... 39
Accumulated net realized loss on investments and
foreign currency transactions............................... (537)
Unrealized appreciation of investments in
securities and the translations of assets and
liabilities denominated in foreign currency................. 663
-------
Net assets.................................................... $10,844
=======
</Table>
<Table>
Class A
Net asset value per share ($6,767 / 704 shares
outstanding).............................................. $ 9.61
-------
Maximum offering price per share
($9.61 / 94.5%)........................................... $ 10.17
=======
Class B
Net asset value per share ($1,181 / 124 shares
outstanding).............................................. $ 9.56
=======
Class C
Net asset value per share ($1,208 / 127 shares
outstanding).............................................. $ 9.50
-------
Maximum offering price per share
($9.50 / 99.0%)........................................... $ 9.60
=======
Class Y
Net asset value per share ($1,688 / 175 shares
outstanding).............................................. $ 9.66
=======
</Table>
<Table>
(a) Presently non-income producing.
(b) At April 30, 2003, the cost of securities for federal income tax purposes
is $12,707 and the aggregate gross unrealized appreciation and
depreciation based on that cost was:
</Table>
<Table>
Unrealized appreciation.................................... $ 762
Unrealized depreciation.................................... (295)
-------
Net unrealized appreciation................................ $ 467
=======
</Table>
<Table>
(c) See Note 2b of accompanying Notes of Financial Statements regarding
valuation of securities.
(d) Note: Percentage of investments as shown is the ratio of the total market
value to total net assets.
+ Security is fully or partially on loan as of April 30, 2003. See Note 2d
of accompanying Notes to Financial Statements.
@@ Due to the presentation of the financial statements in thousands, the
number or shares and/or dollars round to zero.
</Table>
The accompanying notes are an integral part of this financial statement.
90
- --------------------------------------------------------------------------------
@@@FORWARD FOREIGN CURRENCY CONTRACTS OUTSTANDING AT APRIL 30, 2003
<Table>
<Caption>
UNREALIZED
CONTRACT DELIVERY APPRECIATION
DESCRIPTION MARKET VALUE AMOUNT DATE (DEPRECIATION)
- ----------- ------------ -------- ---------- --------------
Danish Krone (Buy) $24 $23 05/02/2003 $ 1
Euro (Buy) 31 31 05/02/2003 @@
Euro (Buy) 58 57 05/05/2003 1
Euro (Buy) 20 20 05/06/2003 @@
Japanese Yen (Buy) 44 44 05/01/2003 @@
Japanese Yen (Buy) 25 25 05/02/2003 @@
Japanese Yen (Buy) 72 72 05/06/2003 @@
Swiss Francs (Buy) 24 24 05/05/2003 @@
Hong Kong Dollar (Buy) 37 37 05/02/2003 @@
Hong Kong Dollar (Buy) 16 16 05/05/2003 @@
Euro (Sell) 34 33 05/02/2003 (1)
Euro (Sell) 4 4 05/05/2003 @@
British Pounds (Sell) 6 6 05/02/2003 @@
Japanese Yen (Sell) 19 19 05/01/2003 @@
Japanese Yen (Sell) 14 14 05/02/2003 @@
---
$ 1
===
</Table>
The accompanying notes are an integral part of this financial statement.
91
THE HARTFORD MIDCAP FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE(C)
- --------- ----------
COMMON STOCK -- 94.0%
BASIC MATERIALS -- 4.5%
1,837 Abitibi-Consolidated, Inc. ....................... $ 12,856
47 Bowater, Inc. .................................... 1,833
727 Precision Castparts Corp. ........................ 20,139
233 Rohm & Haas Co. (with rights)..................... 7,719
389 Sealed Air Corp.(a)+.............................. 16,686
803 Smurfit-Stone Container Corp. (with rights)(a) 11,301
----------
70,534
----------
CAPITAL GOODS -- 3.6%
705 AGCO Corp.(a)..................................... 12,842
226 American Standard Companies, Inc.(a).............. 16,111
563 Lam Research Corp.(a)............................. 8,184
470 Parker-Hannifin Corp. (with rights)............... 19,124
----------
56,261
----------
CONSUMER CYCLICAL -- 11.4%
336 Abercrombie & Fitch Co. Class A (with rights)(a) 11,035
2,701 American Tower Corp. Class A(a)................... 17,937
90 Avery Dennison Corp. (with rights)................ 4,744
395 Blockbuster, Inc. Class A+........................ 7,059
187 Borders Group, Inc.(a)............................ 2,997
3,431 Burberry Group plc+............................... 14,341
224 Lennar Corp. Class A.............................. 12,144
22 Lennar Corp. Class B+............................. 1,199
1,377 Mattel, Inc. ..................................... 29,935
238 Michaels Stores, Inc.(a).......................... 7,441
228 Mohawk Industries, Inc.(a)........................ 12,642
628 Newell Rubbermaid, Inc. (with rights)............. 19,131
351 NIKE, Inc. Class B................................ 18,798
334 PACCAR, Inc. (with rights)........................ 19,503
----------
178,906
----------
CONSUMER STAPLES -- 0.9%
676 Pepsi Bottling Group, Inc. ....................... 13,881
----------
ENERGY -- 5.7%
649 EOG Resources, Inc. (with rights)................. 24,259
722 GlobalSantaFe Corp. .............................. 15,286
36 KeySpan Corp. (with rights)....................... 1,211
254 Nabors Industries Ltd.(a)......................... 9,958
222 Noble Corp. (with rights)(a)...................... 6,883
536 Sunoco, Inc. (with rights)........................ 19,926
618 XTO Energy, Inc. (with rights).................... 12,047
----------
89,570
----------
FINANCE AND INSURANCE -- 21.5%
340 Ambac Financial Group, Inc. ...................... $ 19,814
386 Anthem, Inc.(a)................................... 26,518
499 Arch Capital Group Ltd.(a)........................ 17,374
439 Astoria Financial Corp. .......................... 10,973
648 Bank of Hawaii Corp. ............................. 21,368
324 BlackRock, Inc.(a)................................ 14,726
243 Brown & Brown, Inc. (with rights)................. 8,678
525 Countrywide Financial Corp. ...................... 35,456
307 Everest Re Group Ltd.+............................ 21,362
253 Golden West Financial Corp. ...................... 19,066
708 Hibernia Corp. Class A............................ 12,836
1,939 Host Marriott Corp.(a)+........................... 14,971
982 Hudson City Bancorp, Inc. ........................ 22,746
729 Investment Technology Group, Inc.(a).............. 10,414
481 IPC Holdings Ltd. ................................ 16,512
364 Legg Mason, Inc. ................................. 19,773
169 M&T Bank Corp. ................................... 14,233
158 Public Storage, Inc. ............................. 5,067
361 UnionBanCal Corp. ................................ 14,573
33 White Mountains Insurance Group Ltd. ............. 12,349
----------
338,809
----------
HEALTH CARE -- 15.8%
497 Applera Corp. -- Celera Genomics Group(a)......... 5,217
470 Becton, Dickinson & Co. (with rights)............. 16,641
318 Cephalon, Inc.(a)+................................ 12,996
379 Edwards Lifesciences Corp.(a)..................... 10,950
588 Guidant Corp. .................................... 22,942
909 Health Management Associates, Inc. Class A+....... 15,506
1,429 Human Genome Sciences, Inc. (with rights)(a)...... 16,702
254 IDEC Pharmaceuticals Corp.(a)..................... 8,305
534 IVAX Corp.(a)..................................... 8,588
679 Laboratory Corp. of America Holdings (with
rights)(a)...................................... 20,012
615 McKesson Corp. ................................... 17,054
2,349 Millennium Pharmaceuticals, Inc. (with rights)(a) 25,837
262 Regeneron Pharmaceutical, Inc.(a)+................ 1,658
112 St. Jude Medical, Inc. (with rights)(a)........... 5,880
669 Vertex Pharmaceuticals, Inc.(a)................... 8,069
1,057 Waters Corp. (with rights)(a)..................... 25,376
947 Watson Pharmaceuticals, Inc.(a)................... 27,525
----------
249,258
----------
SERVICES -- 15.6%
301 Alliance Data Systems Corp.(a).................... 6,317
1,046 ARAMARK Corp. Class B(a).......................... 24,021
923 BISYS Group, Inc.(a).............................. 15,574
1,601 Cadence Design Systems, Inc.(a)................... 18,297
212 CheckFree Corp.(a)................................ 5,839
435 Diebold, Inc. (with rights)....................... 17,387
989 Exel plc.......................................... 9,483
55 Gartner, Inc. Class A(a).......................... 438
505 GTECH Holdings Corp.(a)........................... 17,017
404 Harrah's Entertainment, Inc. (with rights)(a)..... 15,914
142 Knight-Ridder, Inc. (with rights)................. 9,184
924 Lamar Advertising Co.(a)+......................... 33,201
423 Manpower, Inc. ................................... 13,904
494 Republic Services, Inc.(a)........................ 10,597
120 Scripps (E.W.) Co. Class A........................ 9,537
781 Univision Communications, Inc. Class A(a)+........ 23,640
491 USA Interactive(a)+............................... 14,716
----------
245,066
----------
</Table>
The accompanying notes are an integral part of this financial statement.
92
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE(C)
- --------- ----------
COMMON STOCK -- (CONTINUED)
TECHNOLOGY -- 6.9%
384 Analog Devices, Inc. (with rights)(a)............. $ 12,721
285 Beckman Coulter, Inc. (with rights)............... 11,072
1,603 Citizens Communications Co. (with rights)(a)+..... 17,519
998 Network Appliance, Inc.(a)........................ 13,251
1,403 Nextel Communications, Inc. Class A(a)+........... 20,756
267 Novellus Systems, Inc.(a)......................... 7,487
2,026 VeriSign, Inc. (with rights)(a)................... 25,163
----------
107,969
----------
TRANSPORTATION -- 3.2%
375 CNF, Inc. ........................................ 11,375
601 CSX Corp. (with rights)........................... 19,207
516 Ryanair Holdings plc ADR(a)+...................... 20,487
----------
51,069
----------
UTILITIES -- 4.9%
619 Cinergy Corp. (with rights)....................... 21,129
566 Energy East Corp. ................................ 10,309
368 Pinnacle West Capital Corp. (with rights)......... 12,232
442 PPL Corp. ........................................ 15,990
652 Wisconsin Energy Corp. ........................... 17,162
----------
76,822
----------
Total common stock ...............................
(cost $1,411,752) $1,478,145
==========
<Caption>
PRINCIPAL
AMOUNT
- ---------
SHORT-TERM INVESTMENTS -- 12.5%
COLLATERAL FOR SECURITIES LENDING -- 7.3%
$115,734 Boston Global Investment Trust.................... $ 115,734
----------
FINANCE -- 5.2%
81,142 Joint Repurchase Agreement,.......................
1.27%, 05/01/2003 (Note 2f) 81,142
----------
Total short-term investments .....................
(cost $196,876) $ 196,876
==========
Total investments in securities (cost
$1,608,628)(b).................................. $1,675,021
==========
</Table>
<Table>
STATEMENT OF ASSETS AND LIABILITIES:
ASSETS
Investments in securities, at value......................... $1,675,021
Receivables:
Investment securities sold................................ 16,446
Fund shares sold.......................................... 8,121
Dividends and interest.................................... 911
Other assets................................................ 528
----------
Total assets................................................ 1,701,027
----------
LIABILITIES
Payables:
Payable upon return of securities loaned (Note 2)......... 115,734
Investment securities purchased........................... 8,980
Fund shares redeemed...................................... 2,197
Payable for investment advisory and management fees (Note
3)...................................................... 932
Payable for distribution fees (Note 3).................... 169
Accrued expenses............................................ 435
----------
Total liabilities........................................... 128,447
----------
Net assets.................................................. $1,572,580
==========
SUMMARY OF SHAREHOLDERS' EQUITY:
Capital stock, par value $0.001 per share; 360,000 shares
authorized; 94,645 shares outstanding.................... $1,702,871
Accumulated undistributed net investment loss............... (5,489)
Accumulated net realized loss on investments................ (191,196)
Unrealized appreciation of investments in securities........ 66,394
----------
Net assets.................................................. $1,572,580
==========
</Table>
<Table>
Class A
Net asset value per share ($888,573 / 52,651
shares outstanding)........................... $16.88
------
Maximum offering price per share
($16.88 / 94.5%).............................. $17.86
======
Class B
Net asset value per share ($308,059 / 19,016
shares outstanding)........................... $16.20
======
Class C
Net asset value per share ($324,529 / 20,013
shares outstanding)........................... $16.22
------
Maximum offering price per
share($16.22 / 99.0%)......................... $16.38
======
Class Y
Net asset value per share ($51,419 / 2,965
shares outstanding)........................... $17.34
======
</Table>
The accompanying notes are an integral part of this financial statement.
93
THE HARTFORD MIDCAP FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
(a) Presently non-income producing.
(b) At April 30, 2003, the cost of securities for federal income tax purposes
is $1,625,203 and the aggregate gross unrealized appreciation and
depreciation based on that cost was:
</Table>
<Table>
Unrealized appreciation........................ $128,090
Unrealized depreciation........................ (78,272)
--------
Net unrealized appreciation.................... $ 49,818
========
</Table>
<Table>
(c) See Note 2b of accompanying Notes of Financial Statements regarding
valuation of securities.
(d) 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 4.42% of total net assets as of April 30, 2003.
+ Security is fully or partially on loan as of April 30, 2003. See Note 2d
of accompanying Notes to Financial Statements.
@@ Due to the presentation of the financial statements in thousands, the
number or shares and/or dollars round to zero.
</Table>
The accompanying notes are an integral part of this financial statement.
94
THE HARTFORD MIDCAP VALUE FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE(C)
- --------- --------
COMMON STOCK -- 97.6%
BASIC MATERIALS -- 7.4%
262 Abitibi-Consolidated, Inc. ....................... $ 1,836
90 Engelhard Corp. (with rights)..................... 2,212
43 Grupo IMSA S.A. de C.V. ADR....................... 559
190 IMC Global, Inc. (with rights).................... 1,721
18 Lafarge North America, Inc. ...................... 567
22 Michelin (C.G.D.E.) Class B....................... 825
99 Pactiv Corp.(a)................................... 2,023
194 Smurfit-Stone Container Corp. (with rights)(a).... 2,732
--------
12,475
--------
CAPITAL GOODS -- 7.1%
396 Axcelis Technologies, Inc.(a)..................... 2,250
23 Black & Decker Corp. ............................. 961
526 Bombardier, Inc. ................................. 1,273
75 Bombardier, Inc.(e)............................... 182
77 Flowserve Corp.(a)................................ 1,186
70 IHC Caland N.V. .................................. 3,594
19 Rockwell Automation, Inc. ........................ 435
179 Teradyne, Inc. (with rights)(a)................... 2,081
--------
11,962
--------
CONSUMER CYCLICAL -- 9.0%
47 AnnTaylor Stores Corp. (with rights)(a)........... 1,117
17 Beazer Homes USA, Inc.(a)+........................ 1,180
88 Blockbuster, Inc. Class A......................... 1,581
22 BorgWarner, Inc. ................................. 1,314
28 CEC Entertainment, Inc.(a)........................ 849
208 Foot Locker, Inc. ................................ 2,287
75 Granite Construction, Inc. ....................... 1,263
20 M.D.C. Holdings, Inc. ............................ 913
20 Toll Brothers, Inc.(a)............................ 472
112 United Stationers, Inc.(a)........................ 3,047
27 V.F. Corp. ....................................... 1,070
--------
15,093
--------
CONSUMER STAPLES -- 7.2%
126 Bunge Ltd. ....................................... 3,527
100 Constellation Brands, Inc. Class A(a)............. 2,689
76 Dean Foods Co.(a)................................. 3,291
118 Sensient Technologies Corp. ...................... 2,614
--------
12,121
--------
ENERGY -- 6.2%
109 Cal Dive International, Inc.(a)................... 1,753
3 Devon Energy Corp. ............................... 137
47 EOG Resources, Inc. (with rights)................. 1,772
59 Petro-Canada...................................... 1,934
23 Progress Energy, Inc. ............................ 977
19 Unocal Corp. (with rights)........................ 512
170 XTO Energy, Inc. (with rights).................... 3,308
--------
10,393
--------
FINANCE AND INSURANCE -- 25.8%
65 ACE Ltd. ADR (with rights)........................ 2,154
87 Ambac Financial Group, Inc. ...................... 5,088
51 Bank of Hawaii Corp. ............................. 1,684
57 Charter One Financial, Inc. (with rights)......... 1,665
95 CIT Group, Inc. .................................. 1,929
114 Converium Holding AG ADR(a)....................... 2,589
144 Hibernia Corp. Class A............................ 2,617
40 Legg Mason, Inc. ................................. 2,172
73 Oxford Health Plans, Inc.(a)...................... 2,125
165 Reinsurance Group of America, Inc. ............... 4,722
47 RenaissanceRe Holdings Ltd. ADR................... 2,090
56 Rent-A-Center, Inc.(a)+........................... 3,608
42 Rouse Co. ........................................ 1,449
44 St. Paul Companies, Inc. ......................... 1,497
87 UnionBanCal Corp. ................................ 3,498
153 United Rentals, Inc. (with rights)(a)............. 1,573
80 Webster Financial Corp. .......................... 3,003
--------
43,463
--------
HEALTH CARE -- 3.4%
79 Health Net, Inc. (with rights)(a)................. 2,048
79 King Pharmaceuticals, Inc.(a)..................... 1,000
47 Laboratory Corp. of America Holdings (with
rights)(a)...................................... 1,376
61 Triad Hospitals, Inc.(a).......................... 1,331
--------
5,755
--------
SERVICES -- 7.2%
239 Bally Total Fitness Holding Corp.(a)+............. 1,519
410 BearingPoint, Inc. (with rights)(a)............... 3,347
70 Penn National Gaming, Inc.(a)..................... 1,365
195 Republic Services, Inc.(a)........................ 4,178
432 UnitedGlobalCom, Inc. Class A(a)+................. 1,663
--------
12,072
--------
TECHNOLOGY -- 14.9%
64 AMETEK, Inc. ..................................... 2,424
199 Arrow Electronics, Inc.(a)........................ 3,366
49 DENTSPLY International, Inc. ..................... 1,828
204 Fairchild Semiconductor International, Inc.(a).... 2,424
237 Flextronics International Ltd.(a)................. 2,075
19 Fossil, Inc.(a)................................... 349
84 Harman International Industries, Inc. (with
rights)......................................... 5,600
28 McLeodUSA, Inc. Class A(a)+....................... 17
104 Seagate Technology(a)+............................ 1,254
383 Solectron Corp. (with rights)(a).................. 1,223
84 Sybase, Inc. (with rights)(a)..................... 1,080
274 Vishay Intertechnology, Inc.(a)................... 3,428
--------
25,068
--------
TRANSPORTATION -- 5.0%
51 Canadian National Railway Co. .................... 2,461
61 CNF, Inc. ........................................ 1,848
37 Continental Airlines, Inc. Class B (with
rights)(a)+..................................... 335
157 ExpressJet Holdings, Inc.(a)...................... 1,816
85 Werner Enterprises, Inc. ......................... 1,924
--------
8,384
--------
</Table>
The accompanying notes are an integral part of this financial statement.
95
THE HARTFORD MIDCAP VALUE FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE(C)
- --------- --------
COMMON STOCK -- (CONTINUED)
UTILITIES -- 4.4%
77 Cinergy Corp. (with rights)....................... $ 2,629
33 FirstEnergy Corp. (with rights)................... 1,110
3 FPL Group, Inc. (with rights)..................... 201
95 PPL Corp. ........................................ 3,442
--------
7,382
--------
Total common stock................................
(cost $172,053) $164,168
========
<Caption>
PRINCIPAL
AMOUNT
- ---------
SHORT-TERM INVESTMENTS -- 7.4%
COLLATERAL FOR SECURITIES LENDING -- 5.0%
$8,447 Boston Global Investment Trust.................... $ 8,447
FINANCE -- 2.4%
4,032 Joint Repurchase Agreement,.......................
1.27%, 05/01/2003 (Note 2f) 4,032
--------
Total short-term investments......................
(cost $12,479) $ 12,479
========
Total investments in securities...................
(cost $184,532)(b) $176,647
========
</Table>
<Table>
STATEMENT OF ASSETS AND LIABILITIES:
ASSETS
Investments in securities, at value................. $176,647
Cash................................................ 1
Unrealized appreciation in forward foreign currency
contracts......................................... 1
Receivables:
Investment securities sold........................ 2,006
Fund shares sold.................................. 304
Dividends and interest............................ 64
Other assets........................................ 96
--------
Total assets........................................ 179,119
--------
LIABILITIES
Payables:
Payable upon return of securities loaned (Note
2).............................................. 8,447
Investment securities purchased................... 1,796
Fund shares redeemed.............................. 395
Payable for investment advisory and management
fees (Note 3)................................... 111
Payable for distribution fees (Note 3)............ 18
Accrued expenses.................................... 103
--------
Total liabilities................................... 10,870
--------
Net assets.......................................... $168,249
========
</Table>
<Table>
SUMMARY OF SHAREHOLDERS' EQUITY:
Capital stock, par value $0.001 per share; 300,000
shares authorized; 18,953 shares outstanding...... $186,368
Accumulated undistributed net investment loss....... (463)
Accumulated net realized loss on investments and
foreign currency transactions..................... (9,771)
Unrealized depreciation of investments in securities
and the translations of assets and liabilities
denominated in foreign currency................... (7,885)
--------
Net assets.......................................... $168,249
========
</Table>
<Table>
Class A
Net asset value per share ($103,868 / 11,640 shares
outstanding)....................................... $8.92
-----
Maximum offering price per share($8.92 / 94.5%)...... $9.44
=====
Class B
Net asset value per share ($29,103 / 3,307 shares
outstanding)....................................... $8.80
=====
Class C
Net asset value per share ($35,008 / 3,976 shares
outstanding)....................................... $8.80
-----
Maximum offering price per share ($8.80 / 99.0%)..... $8.89
=====
Class Y
Net asset value per share ($270 / 30 shares
outstanding)....................................... $9.00
=====
</Table>
<Table>
(a) Presently non-income producing.
(b) At April 30, 2003, the cost of securities for federal income tax purposes
is $184,825 and the aggregate gross unrealized appreciation and
depreciation based on that cost was:
</Table>
<Table>
Unrealized appreciation........................ $ 11,958
Unrealized depreciation........................ (20,136)
--------
Net unrealized depreciation.................... $ (8,178)
========
</Table>
<Table>
(c) See Note 2b of accompanying Notes of Financial Statements regarding
valuation of securities.
(d) 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 10.30% of total net assets as of April 30, 2003.
(e) Security sold within the terms of a private placement memorandum, exempt
from registration under Section 144A of the Securities Act of 1933, as
amended, and may be sold only to dealers in that program or to other
"accredited investors." Pursuant to guidelines adopted by the Board of
Directors, this issue is deemed to be liquid. The aggregate value of this
security at April 30, 2003, was $181, which represents .11% of total net
assets.
+ Security is fully or partially on loan as of April 30, 2003. See Note 2d
of accompanying Notes to Financial Statements.
@@ Due to the presentation of the financial statements in thousands, the
number or shares and/or dollars round to zero.
</Table>
@@@FORWARD FOREIGN CURRENCY CONTRACTS OUTSTANDING AT APRIL 30, 2003
<Table>
<Caption>
UNREALIZED
CONTRACT DELIVERY APPRECIATION
DESCRIPTION MARKET VALUE AMOUNT DATE (DEPRECIATION)
- ----------- ------------ -------- ---------- --------------
Canadian Dollar (Buy) $170 $169 05/02/2003 $ 1
Euro (Buy) 24 24 05/02/2003 @@
-----
$ 1
=====
</Table>
The accompanying notes are an integral part of this financial statement.
96
THE HARTFORD MONEY MARKET FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
STANDARD
PRINCIPAL AND POOR'S MARKET
AMOUNT RATING VALUE(A)
- --------- ---------- --------
CONSUMER CYCLICAL -- 2.9%
$ 4,000 7-Eleven, Inc.
1.28%, 05/20/2003............................... A1+ $ 3,997
4,500 7-Eleven, Inc.
1.28%, 05/21/2003............................... A1+ 4,497
4,000 Wal-Mart Stores, Inc.
1.26%, 08/01/2003............................... A1+ 4,032
--------
Total consumer cyclical........................... 12,526
--------
CONSUMER STAPLES -- 5.6%
6,000 Archer Daniels Midland Co.
1.22%, 07/02/2003............................... A1 5,988
$ 3,000 Archer Daniels Midland Co.
1.27%, 06/17/2003............................... A1 2,995
5,000 Cargill, Inc.
1.28%, 06/23/2003............................... A1 4,991
5,000 Cargill, Inc.
1.29%, 01/14/2004(d)(e)......................... A1 5,000
5,000 Procter & Gamble Co.
1.71%, 05/05/2003............................... A1 4,999
--------
Total consumer staples............................ 23,973
--------
FINANCE -- 83.5%
9,000 Alliance & Leicester
1.11%, 09/15/2003............................... A1 8,962
10,000 American Express Credit Corp.
1.23%, 05/28/2003............................... A1 9,991
7,500 American General Finance Corp.
1.14%, 06/23/2003............................... A1 7,488
4,000 American General Finance Corp.
1.30%, 05/13/2003............................... A1 3,998
7,000 American Honda Finance Corp.
1.30%, 10/21/2003(d)(e)......................... A1 6,999
5,000 American Honda Finance Corp.
1.30%, 01/20/2004(d)(e)......................... A1 5,000
6,000 Bank of America Corp.
1.28%, 05/23/2003............................... A1 5,995
8,000 Bank of New York Co., Inc.
1.41%, 10/30/2003(d)............................ A1 8,004
3,000 Bank One Corp.
1.62%, 02/20/2004(d)............................ A1 3,008
6,000 Bear Stearns Co., Inc.
1.30%, 06/09/2003............................... A1 5,992
5,000 Bear Stearns Co., Inc. Series B
1.45%, 02/12/2004(d)............................ A1 5,006
4,455 Bradford & Bingley plc
1.26%, 06/02/2003............................... A1 4,450
7,000 Caterpillar Financial Services Corp.
1.29%, 07/21/2003............................... A1 6,980
8,000 Corporate Asset Funding Corp. Inc.
1.25%, 06/04/2003............................... A1 7,990
6,000 FHLB
1.21%, 07/25/2003............................... A1+ 5,983
8,000 FHLB
1.40%, 05/14/2004............................... A1 8,000
5,000 FHLMC
1.21%, 09/17/2003............................... A1+ 4,977
8,000 FHLMC
1.29%, 06/30/2003............................... A1+ 7,983
9,000 FleetBoston Financial Corp.
1.60%, 02/19/2004(d)............................ NR 9,015
4,000 FNMA
1.21%, 09/17/2003............................... A1+ 3,982
8,000 FNMA
1.47%, 05/14/2004............................... A1 8,000
1,000 General Electric Capital Corp.
1.40%, 10/22/2003(d)............................ A1+ 1,001
4,625 General Electric Capital Corp. Ser. A
1.32%, 01/28/2004(d)............................ A1+ 4,627
5,000 Goldman Sachs Group, Inc.
1.30%, 02/04/2004(d)............................ A1+ 5,000
6,000 Goldman Sachs Group, Inc.
1.55%, 01/16/2004(d)............................ A1 6,000
10,000 J.P. Morgan Chase & Co.
1.47%, 02/05/2004(d)............................ A1 10,011
14,317 Joint Repurchase Agreement
1.25%, 05/01/2003(d) (Note 2f).................. A1 14,317
9,000 Key Bank N.A.
1.46%, 03/01/2004(d)............................ A1 9,012
10,000 KFW International Finance, Inc.
1.11%, 09/09/2003............................... A1+ 9,960
4,000 Lehman Brothers Holdings, Inc.
1.37%, 04/01/2004............................... A1 4,191
1,000 Lehman Brothers Holdings, Inc.
1.79%, 05/15/2003............................... A1 1,002
9,500 Merrill Lynch & Co., Inc.
1.44%, 06/24/2003(d)............................ A1 9,501
2,000 Morgan Stanley Dean Witter & Co.
1.36%, 09/19/2003(d)............................ A1 2,001
10,000 Morgan Stanley Dean Witter & Co.
1.51%, 03/19/2004(d)............................ A1 10,017
10,000 Nationwide Building Society
1.27%, 07/22/2003............................... A1 9,972
8,000 Nestle Capital Corp.
1.36%, 06/05/2003............................... A1+ 7,990
8,000 Nordea North America, Inc.
1.26%, 08/05/2003............................... A1 7,974
9,000 Northern Rock plc
1.30%, 01/16/2004(d)(e)......................... A1 9,000
4,500 Old Line Funding Corp.
1.20%, 06/09/2003............................... A1 4,494
5,500 Old Line Funding Corp.
1.28%, 06/11/2003............................... A1 5,492
10,000 Salomon Smith Barney Holdings, Inc.
1.31%, 05/09/2003(d)............................ A1+ 10,000
</Table>
The accompanying notes are an integral part of this financial statement.
97
THE HARTFORD MONEY MARKET FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
STANDARD
PRINCIPAL AND POOR'S MARKET
AMOUNT RATING VALUE(A)
- --------- ---------- --------
FINANCE -- (CONTINUED)
$ 2,000 Salomon Smith Barney Holdings, Inc.
1.58%, 11/17/2003(d)............................ A1+ $ 2,003
4,000 Spintab, Inc
1.27%, 05/22/2003............................... A1 3,997
12,000 State Street Corp.
1.22%, 06/23/2003............................... A1+ 11,979
11,000 Svenska Handelsbanken, Inc
1.23%, 07/01/2003............................... A1 10,977
5,000 Toronto-Dominion Holdings, Inc
1.28%, 06/30/2003............................... A1+ 4,990
10,000 Toyota Motor Credit Corp
1.27%, 11/24/2003(d)............................ A1+ 10,000
5,000 US Bancorp
1.54%, 09/15/2003(d)............................ A1 5,005
10,000 Wachovia Bank, Inc
Ser CD3 1.28%, 10/20/2003(d).................... A1 10,000
8,000 Washington Mutual Bank N.A
1.36%, 08/04/2003(d)............................ A1 8,000
3,000 Wells Fargo & Co
1.25%, 08/15/2003............................... A1 3,026
5,000 Wells Fargo Bank N.A
1.24%, 01/14/2004(d)............................ A1+ 5,000
2,000 Wells Fargo Bank N.A
1.26%, 11/24/2003(d)............................ A1+ 2,000
--------
Total finance.....................................
356,342
--------
HEALTH CARE -- 5.7%
8,000 Bristol-Myers Squibb Co.
1.42%, 07/23/2003(d)(e)......................... A1+ 8,000
500 Johnson & Johnson
1.21%, 09/18/2003............................... A1+ 498
6,000 Johnson & Johnson
1.26%, 05/06/2003............................... A1+ 5,999
6,000 Wyeth
1.29%, 05/12/2003............................... A1 5,998
4,000 Wyeth
1.31%, 05/28/2003............................... A1 3,996
--------
Total health care................................. 24,491
--------
SERVICES -- 2.3%
5,000 Washington Post Co.
1.23%, 08/11/2003............................... A1 4,983
5,000 Washington Post Co.
1.27%, 08/18/2003............................... A1 4,981
--------
Total services.................................... 9,964
--------
Total investments in securities (cost
$427,296)(b).................................... $427,296
========
</Table>
<Table>
STATEMENT OF ASSETS AND LIABILITIES:
ASSETS
Investments in securities, at value........................... $427,296
Cash.......................................................... 1
Receivables:
Fund shares sold............................................ 1,872
Dividends and interest...................................... 335
Other assets.................................................. 374
--------
Total assets.................................................. 429,878
--------
LIABILITIES
Payables:
Fund shares redeemed......................................... 3,381
Dividend Payable............................................. 2
Payable for investment advisory and management
fees (Note 3).............................................. 180
Payable for distribution fees (Note 3)....................... 44
Accrued expenses............................................... 136
--------
Total liabilities.............................................. 3,743
--------
Net assets..................................................... $426,135
========
SUMMARY OF SHAREHOLDERS' EQUITY:
Capital stock, par value $0.001 per share; 426,135
shares authorized; 426,135 shares outstanding............................ $426,135
--------
Net assets................................................................. $426,135
========
</Table>
<Table>
Class A
Net asset value per share ($284,905 / 284,905 shares
outstanding)........................................................... $1.00
=====
Class B
Net asset value per share ($94,665 / 94,665 shares
outstanding)........................................................... $1.00
=====
Class C
Net asset value per share ($44,868 / 44,868 shares
outstanding)........................................................... $1.00
=====
Class Y
Net asset value per share ($1,697 / 1,697 shares
outstanding)........................................................... $1.00
=====
</Table>
<Table>
(a) See Note 2b of accompanying Notes of Financial Statements regarding
valuation of securities.
(b) Also represents cost for federal income tax purposes.
(c) Note: Percentage of investments as shown is the ratio of the total market
value to total net assets.
(d) Variable Rate Securities; the yield reported is the rate in effect as of
April 30, 2003.
(e) Securities sold within the terms of a private placement memorandum,
exempt from registrations under Section 144A of the Securities Act of
1933, as amended, and may be sold only to dealers in that program or to
other "accredited investors". Pursuant to guidelines adopted by the Board
of Directors, these issues are deemed to be liquid. The aggregate value
of these securities at April 30, 2003, was $33,999, which represents
7.98% of total net assets.
</Table>
The accompanying notes are an integral part of this financial statement.
98
THE HARTFORD SHORT DURATION FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
STANDARD
PRINCIPAL AND POOR'S MARKET
AMOUNT RATING VALUE(B)
- --------- ---------- ---------
ASSET BACKED AND COMMERCIAL -- 3.2%
MORTGAGE SECURITIES
FINANCE -- 3.2%
$ 100 Americredit Automobile Receivables Trust,
Ser 2001-1 Class B................................ AA $ 102
5.81%, 05/06/2006
200 CS First Boston Mortgage Securities Corp., Ser
2002-TFLA Class D................................. A 199
2.71%, 11/18/2012(d)(f)
150 Ford Credit Auto Owner Trust, Ser 2003-A Class C
4.29%, 11/15/2007................................. BBB 152
49 Green Tree Financial Corp., Ser 1995-9 Class A6
7.30%, 01/15/2026................................. AAA 51
2,762 LB-UBS Commercial Mortgage Trust PAC IO
3.691%, 12/15/2036(e)(f).......................... AAA 195
95 LB-UBS Commercial Mortgage Trust, Ser 2002-C7
Class A1.......................................... AAA 97
3.17%, 12/15/2026
200 Merrill Lynch Mortgage Investors, Inc., Ser
2000-FF1 Class M2................................. A 200
2.33%, 03/01/2031(d)
88 Morgan Stanley Dean Witter Capital I, Ser 2002-IQ2
Class A1 4.09%, 12/15/2035........................ AA 92
199 Morgan Stanley Dean Witter Capital I, Ser 2002-HQ
Class A1 4.59%, 04/15/2034........................ AAA 206
150 Soundview Home Equity Loan Trust, Inc., Ser 2000-1
Class M1 8.64%, 05/25/2030........................ AA 161
128 Wachovia Bank Commercial Mortgage Trust, Ser
2002-C1 Class A1.................................. AAA 134
4.54%, 04/15/2034 -------
Total asset backed and commercial $ 1,589
mortgage securities =======
(cost $1,582)
CORPORATE BONDS
INVESTMENT GRADE -- 64.0%
BASIC MATERIALS -- 3.8%
200 Dow Chemical
7.00%, 08/15/2005............................... A- 218
100 Falconbridge Ltd.
7.375%, 09/01/2005.............................. BBB- 108
125 ICI North America
8.875%, 11/15/2006.............................. BBB 144
100 International Flavors & Fragrances, Inc.
6.45%, 05/15/2006............................... BBB+ 109
350 International Paper Co.
8.125%, 07/08/2005.............................. BBB 392
120 Lafarge North America
6.375%, 07/15/2005.............................. BBB 129
100 Pactiv Corp
8.00%, 04/15/2007............................... BBB 113
50 Phelps Dodge Corp
6.375%, 11/01/2004.............................. BBB- 51
50 Potash Corp. of Saskatchewan, Inc.
7.125%, 06/15/2007.............................. BBB+ 57
200 Temple-Inland, Inc.
7.25%, 09/15/2004............................... BBB 208
300 Westvaco Corp
8.40%, 06/01/2007............................... BBB 349
-------
1,878
-------
CAPITAL GOODS -- 1.9%
$ 100 Boeing Co.
6.625%, 06/01/2005.............................. A+ 108
250 Ingersoll-Rand Co.
6.25%, 05/15/2006............................... BBB+ 276
200 International Game Technology
7.875%, 05/15/2004.............................. BBB- 210
300 Textron, Inc.
6.625%, 11/15/2007.............................. A 327
-------
921
-------
CONSUMER CYCLICAL -- 6.3%
125 Albertson's, Inc.
6.55%, 08/01/2004............................... BBB+ 131
250 American Stores Co.
7.40%, 05/15/2005............................... BBB+ 275
400 DaimlerChrysler NA Holdings Corp.
7.75%, 06/15/2005............................... BBB+ 441
300 Federated Department Stores, Inc.
6.625%, 09/01/2008.............................. BBB+ 334
50 Hanson Overseas
6.75%, 09/15/2005............................... BBB+ 54
75 Jones Apparel Group, Inc.
7.50%, 06/15/2004............................... BBB 79
150 Kroger Co.
7.80%, 08/15/2007............................... BBB- 172
150 Kroger Co.
8.15%, 07/15/2006............................... BBB- 171
370 Masco Corp.
6.75%, 03/15/2006............................... BBB+ 411
250 May Department Stores Co.
5.95%, 11/01/2008............................... A 271
100 May Department Stores Co.
6.875%, 11/01/2005.............................. A 110
100 Mohawk Industries, Inc.
6.50%, 04/15/2007............................... BBB 111
</Table>
The accompanying notes are an integral part of this financial statement.
99
THE HARTFORD SHORT DURATION FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
STANDARD
PRINCIPAL AND POOR'S MARKET
AMOUNT RATING VALUE(B)
- --------- ---------- ---------
CORPORATE BONDS -- (CONTINUED)
CONSUMER CYCLICAL -- (CONTINUED)
$ 150 Newell Rubbermaid, Inc.
6.00%, 03/15/2007............................... BBB+ $ 162
100 Nine West Group, Inc., Ser B
8.375%, 08/15/2005.............................. BBB 111
200 PHH Corp.
6.00%, 03/01/2008............................... BBB+ 210
100 Safeway, Inc.
3.80%, 08/15/2005............................... BBB 102
-------
3,145
-------
CONSUMER STAPLES -- 2.5%
250 ConAgra Foods, Inc.
7.50%, 09/15/2005............................... BBB+ 278
90 ConAgra Foods, Inc.
9.875%, 11/15/2005.............................. BBB+ 106
300 Dial Corp.
7.00%, 08/15/2006............................... BBB- 331
150 Ralcorp Holdings, Inc.
8.75%, 09/15/2004............................... BBB+ 163
150 Tyson Foods, Inc.
6.625%, 10/17/2005.............................. BBB 157
200 Weyerhaeuser Co.
5.50%, 03/15/2005............................... BBB 210
-------
1,245
-------
ENERGY -- 5.3%
300 Anadarko Petroleum Corp.
6.50%, 05/15/2005............................... BBB+ 323
100 Baker Hughes, Inc.
8.00%, 05/15/2004............................... A- 106
50 Consolidated Natural Gas Co.,
Ser B 5.375%, 11/01/2006........................ BBB+ 54
75 Consumers Energy Co.
6.25%, 09/15/2006............................... BBB- 82
250 Kerr-McGee Corp.
5.375%, 04/15/2005.............................. BBB 263
150 Louis Dreyfus Natural Gas Corp.
6.875%, 12/01/2007.............................. BBB+ 167
150 Ocean Energy, Inc., Ser B 7.625%, 07/01/2005...... BBB- 167
350 Repsol International Finance B.V.
7.45%, 07/15/2005............................... BBB 379
300 Transocean, Inc.
6.75%, 04/15/2005............................... A- 325
50 Ultramar Diamond Shamrock. Corp.,
Ser A 8.00%, 03/15/2005......................... BBB 54
300 Union Oil Co. of California
9.125%, 02/15/2006.............................. BBB+ 350
351 Valero Energy Corp.
6.125%, 04/15/2007.............................. BBB 375
-------
2,645
-------
FINANCE -- 18.3%
300 ACE INA Holdings Corp.
8.30%, 08/15/2006............................... BBB+ 341
256 Aetna, Inc.
7.375%, 03/01/2006.............................. BBB 284
130 American General Finance
5.875%, 12/15/2005.............................. A+ 140
100 American General Finance
5.91%, 06/12/2006............................... A+ 109
230 Aon Corp.
8.65%, 05/15/2005............................... A- 254
250 AvalonBay Communities, Inc.
6.875%, 12/15/2007.............................. BBB+ 278
100 AXA Financial, Inc.
9.00%, 12/15/2004............................... A 111
100 Banca Commerciale Italiana
8.25%, 07/15/2007............................... BBB+ 111
150 Banesto Finance Ltd.
7.50%, 03/25/2007............................... A- 169
200 BankAmerica Corp.
6.75%, 09/15/2005............................... A 222
290 BBV International Finance
6.875%, 07/01/2005.............................. A+ 316
100 Bear Stearns Co., Inc.
7.625%, 02/01/2005.............................. A 110
200 Bombardier Capital, Inc.
7.50%, 08/15/2004(f)............................ BBB+ 200
250 Capital One Bank
8.25%, 06/15/2005............................... BBB- 271
50 Cigna Corp.
8.25%, 01/01/2007............................... BBB+ 57
100 CIT Group, Inc.
5.50%, 11/30/2007............................... A 106
250 Countrywide Funding Corp.
6.875%, 09/15/2005.............................. A 275
250 Credit Suisse First Bank USA, Inc.
5.875%, 08/01/2006.............................. A+ 273
50 Enterprise Rent-a-Car USA Finance Co., Inc.
7.50%, 06/15/2003(f)............................ BBB+ 50
300 Equifax, Inc.
4.95%, 11/01/2007............................... A- 313
200 Equitable Life Assurance
6.95%, 12/01/2005(f)............................ A 223
300 Equity Residential Properties Trust
7.25%, 06/15/2005............................... BBB+ 328
100 ERAC USA Finance Co.
6.625%, 02/15/2005(f)........................... BBB+ 105
225 ERAC USA Finance Co.
8.25%, 05/01/2005(f)............................ BBB+ 245
250 Fleetboston Financial Corp.
6.625%, 12/01/2005.............................. A- 274
350 Ford Motor Credit Co.
6.875%, 02/01/2006.............................. BBB 362
</Table>
The accompanying notes are an integral part of this financial statement.
100
- --------------------------------------------------------------------------------
<Table>
<Caption>
STANDARD
PRINCIPAL AND POOR'S MARKET
AMOUNT RATING VALUE(B)
- --------- ---------- ---------
CORPORATE BONDS -- (CONTINUED)
FINANCE -- (CONTINUED)
$ 100 Gables Realty L.P.
6.80%, 03/15/2005............................... BBB $ 107
400 General Motors Acceptance Corp.
7.50%, 07/15/2005............................... BBB 428
100 Goldman Sachs Group, Inc.
7.50%, 01/28/2005............................... A+ 109
100 Household Finance Corp.
1.69%, 05/28/2004(d)............................ A 100
150 Household Finance Corp.
5.75%, 01/30/2007............................... A 163
50 Household Finance Corp.
7.65%, 05/15/2007............................... A 57
100 International Lease Finance. Corp.
5.95%, 06/06/2005............................... AA- 106
150 J.P. Morgan Chase & Co.
5.625%, 08/15/2006.............................. A+ 164
100 Key Bank NA
7.125%, 08/15/2006.............................. A- 113
150 Lehman Brothers Holdings
8.75%, 03/15/2005............................... A 168
120 Lincoln National Corp.
5.25%, 06/15/2007............................... A- 126
150 Merrill Lynch & Co., Inc.
8.00%, 06/01/2007............................... A+ 174
150 Morgan Stanley Dean Witter & Co.
7.75%, 06/15/2005............................... A+ 168
250 PNC Funding Corp.
5.75%, 08/01/2006............................... A- 272
100 Prudential Insurance Co. of America
6.375%, 07/23/2006(f)........................... A+ 110
200 Salomon Smith Barney
6.25%, 06/15/2005............................... AA- 215
200 Simon Property Group L.P.
6.75%, 02/09/2004............................... BBB 208
150 Simon Property Group L.P.
7.125%, 09/20/2007.............................. BBB 168
235 St. Paul Companies, Inc.
7.875%, 04/15/2005.............................. BBB+ 257
150 Tyco Capital Corp.
7.625%, 08/16/2005.............................. A 164
150 Wellpoint Health Networks, Inc.
6.375%, 06/15/2006.............................. A- 166
-------
9,070
-------
HEALTH CARE -- 1.8%
$ 200 Boston Scientific
6.625%, 03/15/2005.............................. A- 213
300 Quest Diagnostics, Inc.
6.75%, 07/12/2006............................... BBB- 332
200 Tenet Healthcare Corp.
5.00%, 07/01/2007............................... BBB- 190
150 Wyeth
7.90%, 02/15/2005............................... A 165
-------
900
-------
SERVICES -- 8.5%
195 ARAMARK Services, Inc.
8.15%, 05/01/2005............................... BBB- 210
250 Belo Corp.
7.125%, 06/01/2007.............................. BBB- 278
300 Clear Channel Communications, Inc.
7.875%, 06/15/05................................ BBB- 331
289 Comcast Cable Communications, Inc.
6.375%, 01/30/2003.............................. BBB 313
250 Electronic Data Systems Corp.
6.85%, 10/15/2004............................... A- 261
300 Harrahs Operating Co., Inc.
7.125%, 06/01/2007.............................. BBB- 329
205 Hyatt Equities LLC
6.875%, 06/15/2007(f)........................... BBB 207
150 Marriott International, Inc., Ser B 6.875%,
11/15/2005...................................... BBB+ 162
300 News America, Inc.
6.625%, 01/09/2008.............................. BBB- 331
200 Scholastic Corp.
5.75%, 01/15/2007............................... BBB 215
100 Scholastic Corp.
7.00%, 12/15/2003............................... BBB 103
80 Sun Microsystems, Inc.
7.35%, 08/15/2004............................... BBB 84
200 Sun Microsystems, Inc.
7.50%, 08/15/2006............................... BBB 221
100 TCI Communications, Inc.
6.875%, 02/15/2006.............................. BBB 110
200 Turner Broadcasting
7.40%, 02/01/2004............................... BBB+ 205
245 USA Networks, Inc.
6.75%, 11/15/2005............................... BBB- 259
300 Walt Disney Co.
7.30%, 02/08/2005............................... BBB+ 324
250 WMX Technologies
7.00%, 10/15/2006............................... BBB 278
-------
4,221
-------
TECHNOLOGY -- 9.4%
300 AT&T Corp.
7.00%, 11/15/2006............................... BBB+ 322
100 AT&T Wireless Services, Inc.
6.875%, 04/18/2005.............................. BBB 108
250 AT&T Wireless Services, Inc.
7.50%, 05/01/2007............................... BBB 282
350 British Telecommunications plc.
7.625%, 12/15/2005.............................. A- 397
</Table>
The accompanying notes are an integral part of this financial statement.
101
THE HARTFORD SHORT DURATION FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
STANDARD
PRINCIPAL AND POOR'S MARKET
AMOUNT RATING VALUE(B)
- --------- ---------- ---------
CORPORATE BONDS -- (CONTINUED)
TECHNOLOGY -- (CONTINUED)
$ 145 Compaq Computer Corp.
7.65%, 08/01/2005............................... A- $ 161
290 Cox Communications, Inc.
7.75%, 08/15/2006............................... BBB 330
410 Deutsche Telekom International Finance B.V.
8.25%, 06/15/2005............................... BBB+ 456
350 France Telecom S.A.
8.70%, 03/01/2006............................... BBB- 398
162 Hewlett-Packard Co.
7.15%, 06/15/2005............................... A- 178
200 Lockheed Martin Corp.
7.25%, 05/15/2006............................... BBB 226
275 Maytag Corp.
6.875%, 03/31/2006.............................. BBB+ 304
250 Motorola, Inc.
6.75%, 02/91/2006............................... BBB 269
150 Pepco Holdings, Inc.
3.75%, 02/15/2006............................... Baa1 154
350 Raytheon Co.
8.20%, 03/01/2006............................... BBB- 402
300 Sprint Capital Corp.
7.90%, 03/15/2005............................... BBB- 318
150 Time Warner, Inc.
8.11%, 08/15/2006............................... BBB+ 167
75 Verizon Wireless Capital
5.375%, 12/15/2006.............................. A+ 81
75 Vodafone Group plc
7.625%, 02/15/2005.............................. A 82
-------
4,635
-------
TRANSPORTATION -- 1.9%
325 CSX Corp.
9.00%, 08/15/2006............................... BBB 387
350 TTX Co.
3.875%, 03/01/2008(f)........................... A+ 347
200 Union Pacific Corp.
7.60%, 05/01/2005............................... BBB 220
-------
954
-------
UTILITIES -- 4.3%
50 Appalachian Power Co.
2.04%, 08/20/2003(d)............................ BBB 50
340 Appalachian Power Co.,
4.80% Ser E, 06/13/2005......................... BBB 354
50 Baltimore Gas & Electric Co., Inc.
6.625%, 03/15/2008.............................. A 57
322 Commonwealth Edison Co.
6.40%, 10/15/2005............................... BBB+ 348
200 DTE Energy Co.
6.00%, 06/01/2004............................... BBB 209
250 FPL Group Capital, Inc.
3.25%, 04/11/2006............................... A- 253
140 Niagara Mohawk Power Corp.
9.75% due 11/01/2005............................ A+ 163
255 Tampa Electric Co.
5.375%, 08/15/2007.............................. BBB 273
120 Texas Eastern Transmission
5.25%, 07/15/2007............................... A- 126
300 TXU Electric Co.
6.25%, 10/01/2004............................... BBB 314
-------
2,147
-------
Total corporate bonds: investment grade (cost
$31,257)........................................ $31,761
=======
U.S. GOVERNMENT SECURITIES -- 30.3%
FEDERAL HOME LOAN MORTGAGE CORPORATION -- 8.9%
$ 500 5.75% 2024........................................ 519
2,000 6.00% 2026 -- 2028................................ 2,082
427 6.00% 2032........................................ 445
790 6.50% 2017........................................ 834
500 6.50% 2030........................................ 525
-------
4,405
-------
FEDERAL NATIONAL MORTGAGE ASSOCIATION -- 7.0%
1,700 6.00% 2026 -- 2027................................ 1,764
950 6.00% 2032........................................ 990
700 6.50% 2032........................................ 731
-------
3,485
-------
GOVERNMENT NATIONAL MORTGAGE -- 1.9%
875 7.00% 2032........................................ 928
-------
U.S. TREASURY SECURITIES -- 12.5%
4,690 3.375% 2007(g).................................... 5,904
280 3.50% 2006........................................ 292
-------
6,196
-------
Total U.S. government securities (cost $15,017) $15,014
=======
Total long-term investments ......................
(cost $47,856) $48,364
=======
</Table>
The accompanying notes are an integral part of this financial statement.
102
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE(B)
- --------- ---------
SHORT-TERM INVESTMENTS -- 0.6%
FINANCE -- 0.6%
$ 296 Joint Repurchase Agreement,.......................
1.25%, 05/01/2003 (Note 2f) $ 296
-------
Total short-term investments .....................
(cost $296) $ 296
=======
Total investments in securities (cost $48,152)(a) $48,660
=======
STATEMENT OF ASSETS AND LIABILITIES:
ASSETS
Investments in securities, at value........................... $ 48,660
Receivables:
Investment securities sold.................................. 257
Fund shares sold............................................ 842
Dividends and interest...................................... 664
Other assets.................................................. 46
--------
Total assets.................................................. 50,469
--------
LIABILITIES
Payables:
Investment securities purchased............................. 799
Fund shares redeemed........................................ 63
Payable for investment advisory and management
fees (Note 3)............................................. 21
Payable for distribution fees (Note 3)...................... 6
Accrued expenses.............................................. 3
--------
Total liabilities............................................. 892
--------
Net assets.................................................... $ 49,577
========
SUMMARY OF SHAREHOLDERS' EQUITY:
Capital stock, par value $0.001 per share; 300,000
shares authorized; 4,871 shares outstanding $49,093
Accumulated undistributed net investment income............... 10
Accumulated net realized loss on investments and
foreign currency transactions (34)
Unrealized appreciation of investments in securities
and the translations of assets and liabilities
denominated foreign currency 508
-------
Net assets.................................................... $49,577
=======
Class A
Net asset value per share ($21,637 / 2,126 shares
outstanding).............................................. $10.18
------
Maximum offering price per share ($10.18 / 97.0%)........... $10.49
======
Class B
Net asset value per share ($7,457 / 733 shares
outstanding).............................................. $10.18
======
Class C
Net asset value per share ($20,483 / 2,012 shares
outstanding).............................................. $10.18
======
</Table>
<Table>
(a) At April 30, 2003, the cost of securities for federal income tax purposes
is $48,152 and the aggregate gross unrealized appreciation and
depreciation based on that cost was:
</Table>
<Table>
Unrealized appreciation.......................... $589
Unrealized depreciation.......................... (81)
----
Net unrealized appreciation...................... $508
====
</Table>
<Table>
(b) See Note 2b of accompanying Notes to Financial Statements regarding
valuation of securities.
(c) 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 4.87% of total net asset as of April 30, 2003.
(d) Variable rate securities; the yield reported is the rate in effect as of
April 30, 2003.
(e) The interest rate disclosed for interest only strips represents the
effective yield at April 30, 2003, based upon the estimated timing and
amount of future cash flows.
(f) Securities sold within the terms of a private placement memorandum,
exempt form registration under Section 144A of the Securities Act of
1933, as amended, and may be sold only to dealers in that program or to
other "accredited investors". 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, 2003, was $1,880, which represents
3.79% of total net assets.
(g) U.S. Treasury inflation-protection 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.
@@ Due to the presentation of the financial statements in thousands, the
number or shares and/or dollars round to zero.
</Table>
The accompanying notes are an integral part of this financial statement.
103
THE HARTFORD SMALL COMPANY FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE(C)
- --------- --------
COMMON STOCK -- 95.7%
BASIC MATERIALS -- 0.7%
46 Jarden Corp.(a)................................... $ 1,369
--------
CAPITAL GOODS -- 5.3%
116 DALSA Corp.(a).................................... 1,392
34 Leapfrog Enterprises, Inc.(a)+.................... 918
130 Pall Corp. (with rights).......................... 2,744
129 Rudolph Technologies, Inc.(a)..................... 1,953
436 Scientific Games Corp.(a)......................... 2,844
--------
9,851
--------
CONSUMER CYCLICAL -- 11.6%
819 American Tower Corp. Class A(a)................... 5,438
79 Blue Rhino Corp.(a)+.............................. 1,065
222 Burberry Group plc................................ 929
35 ESCO Technologies, Inc.(a)........................ 1,353
319 Hollywood Entertainment Corp.(a).................. 5,669
237 Lexar Media, Inc.(a).............................. 1,149
55 Pacific Sunwear of California, Inc.(a)............ 1,258
39 Panera Bread Co. Class A(a)....................... 1,321
62 Quicksilver, Inc.(a).............................. 2,014
81 Steven Madden Ltd. (with rights)(a)............... 1,431
--------
21,627
--------
CONSUMER STAPLES -- 3.5%
106 Bunge Ltd. ....................................... 2,957
130 Peet's Coffee & Tea, Inc.(a)...................... 2,217
66 Smithfield Foods, Inc.(a)......................... 1,296
--------
6,470
--------
ENERGY -- 2.8%
202 Chesapeake Energy Corp. (with rights)............. 1,625
53 Patina Oil & Gas Corp. (with rights).............. 1,836
91 XTO Energy, Inc. (with rights).................... 1,774
--------
5,235
--------
FINANCE AND INSURANCE -- 12.4%
32 AMERIGROUP Corp.(a)............................... 923
87 Arch Capital Group Ltd.(a)........................ 3,036
74 Brown & Brown, Inc. (with rights)................. 2,643
120 First Niagara Financial Group, Inc. .............. 1,455
54 FNB Corp. ........................................ 1,640
456 HealthExtras, Inc.(a)............................. 2,031
99 Investment Technology Group, Inc.(a).............. 1,414
46 IPC Holdings Ltd. ................................ 1,563
107 iShares Russell 2000 Growth Index Fund............ 4,526
60 Platinum Underwriters Holdings Ltd. .............. 1,579
316 Providian Financial Corp. (with rights)(a)........ 2,325
--------
23,135
--------
HEALTH CARE -- 23.4%
212 Abgenix, Inc. (with rights)(a).................... 2,014
97 AmSurg Corp. (with rights)(a)..................... 2,515
120 Andrx Group(a).................................... 1,938
278 Array BioPharma, Inc. (with rights)(a)............ 629
94 AtheroGenics, Inc. (with rights)(a)............... 851
40 Coventry Health Care, Inc. (with rights)(a)....... 1,620
82 CV Therapeutics, Inc. (with rights)(a)............ 1,646
64 Digene Corp.(a)................................... 1,219
89 Edwards Lifesciences Corp.(a)..................... 2,567
66 Eon Labs, Inc.(a)................................. 2,007
64 eResearch Technology, Inc.(a)+.................... 1,910
180 Human Genome Sciences, Inc.
(with rights)(a)................................ 2,108
89 Medicines Co.(a).................................. 1,823
188 Millennium Pharmaceuticals, Inc.
(with rights)(a)................................ 2,072
127 NPS Pharmaceuticals, Inc.(a)...................... 2,424
217 Option Care, Inc.(a).............................. 2,026
71 Orthofix International N.V.(a).................... 2,005
66 OSI Pharmaceuticals, Inc. (with rights)(a)........ 1,376
36 Osteotech, Inc.(a)................................ 375
69 Pharmaceutical Product Development, Inc.(a)....... 1,803
220 Quintiles Transnational Corp.
(with rights)(a)................................ 3,097
126 SangStat Medical Corp.(a)......................... 1,586
47 STERIS Corp.(a)................................... 1,058
138 Thoratec Corp.(a)................................. 1,895
79 Vertex Pharmaceuticals, Inc.(a)................... 958
--------
43,522
--------
SERVICES -- 11.8%
220 Administaff, Inc.(a)+............................. 1,405
140 AMC Entertainment, Inc.(a)........................ 1,344
95 Business Objects S.A. ADR(a)...................... 2,065
42 Career Education Corp. (with rights)(a)........... 2,519
108 CheckFree Corp.(a)+............................... 2,983
123 Cumulus Media, Inc. Class A(a).................... 2,128
34 Education Management Corp.(a)..................... 1,675
40 GTECH Holdings Corp.(a)........................... 1,330
177 McDATA Corp. (with rights)(a)..................... 1,872
31 Portfolio Recovery Associate(a)+.................. 846
104 VCA Antech, Inc.(a)............................... 1,741
126 Wynn Resorts Ltd.(a).............................. 2,120
--------
22,028
--------
TECHNOLOGY -- 20.7%
763 Actuate Corp.(a).................................. 1,388
522 ASE Test Ltd. ADR(a).............................. 1,796
70 Cognos, Inc.(a)................................... 1,906
441 Crown Castle International Corp.(a)............... 2,807
94 DSP Group, Inc.(a)................................ 1,969
122 Exar Corp.(a)..................................... 1,795
166 Fairchild Semiconductor Corp. Class A(a).......... 1,965
108 Hyperion Solutions Corp. (with rights)(a)......... 3,047
45 Innovex, Inc.(a).................................. 385
203 MEMC Electronic Materials, Inc.(a)................ 2,402
153 Microsemi Corp.(a)................................ 1,798
85 Nam Tai Electronics, Inc. ........................ 2,295
152 OraSure Technologies, Inc. (with rights)(a)....... 971
288 Pericom Semiconductor Corp.(a).................... 2,444
630 Red Hat, Inc.(a).................................. 3,777
</Table>
The accompanying notes are an integral part of this financial statement.
104
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE(C)
- --------- --------
COMMON STOCK -- (CONTINUED)
TECHNOLOGY -- (CONTINUED)
108 Semtech Corp.(a).................................. $ 1,717
153 Therasense, Inc.(a)............................... 1,206
270 VeriSign, Inc. (with rights)(a)................... 3,351
165 Western Digital Corp. (with rights)(a)............ 1,543
--------
38,562
--------
TRANSPORTATION -- 3.5%
81 CNF, Inc. ........................................ 2,456
41 JetBlue Airways Corp.(a).......................... 1,287
104 Yellow Corp.(a)................................... 2,775
--------
6,518
--------
Total common stock ...............................
(cost $172,183) $178,317
========
<Caption>
PRINCIPAL
AMOUNT
- ---------
SHORT-TERM INVESTMENTS -- 8.7%
COLLATERAL FOR SECURITIES LENDING -- 3.5%
$6,470 Boston Global Investment Trust.................... 6,470
FINANCE -- 5.2%
9,774 Joint Repurchase Agreement,
1.27%, 05/01/2003 (Note 2f)..................... 9,774
--------
Total short-term investments
(cost $16,244).................................. $ 16,244
========
Total investments in securities
(cost $188,427)(b).............................. $194,561
========
</Table>
<Table>
STATEMENT OF ASSETS AND LIABILITIES:
ASSETS
Investments in securities, at value.......................... $194,561
Cash......................................................... 1,243
Unrealized appreciation in forward foreign currency
contracts.................................................. 3
Receivables:
Investment securities sold................................. 2,917
Fund shares sold........................................... 271
Dividends and interest..................................... 18
Other assets................................................. 120
--------
Total assets................................................. 199,133
--------
LIABILITIES
Payables:
Payable upon return of securities loaned (Note 2).......... 6,470
Investment securities purchased............................ 5,891
Fund shares redeemed....................................... 209
Payable for investment advisory and management fees
(Note 3)................................................. 123
Payable for distribution fees (Note 3)..................... 20
Accrued expenses............................................. 93
--------
Total liabilities............................................ 12,806
--------
Net assets................................................... $186,327
========
</Table>
<Table>
SUMMARY OF SHAREHOLDERS' EQUITY
Capital stock, par value $0.001 per share; 300,000
shares authorized; 18,113 shares outstanding............... $ 323,899
Accumulated undistributed net investment loss................ (1,243)
Accumulated net realized loss on investments and
foreign currency transactions.............................. (142,463)
Unrealized appreciation of investments in securities
and the translations of assets and liabilities
denominated in foreign currency............................ 6,134
---------
Net assets................................................... $ 186,327
=========
</Table>
<Table>
Class A
Net asset value per share ($97,349 / 9,273 shares
outstanding)........................................ $10.50
------
Maximum offering price per share ($10.50 / 94.5%)..... $11.11
======
Class B
Net asset value per share ($41,288 / 4,142 shares
outstanding)........................................ $ 9.97
======
Class C
Net asset value per share ($37,886 / 3,797 shares
outstanding)........................................ $ 9.98
------
Maximum offering price per share ($9.98 / 99.0%)...... $10.08
======
Class Y
Net asset value per share ($9,804 / 901 shares
outstanding)........................................ $10.88
======
</Table>
<Table>
(a) Presently non-income producing.
(b) At April 30, 2003, the cost of securities for federal income tax purposes
is $191,972 and the aggregate gross unrealized appreciation and
depreciation based on that cost was:
</Table>
<Table>
Unrealized appreciation........................... $ 19,285
Unrealized depreciation........................... (16,696)
--------
Net unrealized appreciation....................... $ 2,589
========
</Table>
<Table>
(c) See Note 2b of accompanying Notes of Financial Statements regarding
valuation of securities.
(d) 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 6.65% of total net assets as of April 30, 2003.
+ Security is fully or partially on loan as of April 30, 2003. See Note 2d
of accompanying Notes to Financial Statements.
@@ Due to the presentation of the financial statements in thousands, the
number of shares and/or dollars round to zero.
</Table>
FORWARD FOREIGN CURRENCY CONTRACTS OUTSTANDING AT APRIL 30, 2003
<Table>
<Caption>
UNREALIZED
CONTRACT DELIVERY APPRECIATION
DESCRIPTION MARKET VALUE AMOUNT DATE (DEPRECIATION)
- ----------- ------------ -------- -------- --------------
British Pounds (Buy) $362 $360 5/1/2003 $2
British Pounds (Buy) 277 276 5/2/2003 1
British Pounds (Buy) 300 300 5/6/2003 @@
--
$3
==
</Table>
The accompanying notes are an integral part of this financial statement.
105
THE HARTFORD SMALLCAP GROWTH FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE(C)
- --------- --------
COMMON STOCK -- 98.1%
BASIC MATERIALS -- 3.5%
31 Cabot Microelectronics Corp.(a)+.................. $ 1,318
40 Cambrex Corp. .................................... 694
23 Intermagnetics General Corp.(a)................... 453
14 Minerals Technologies, Inc. ...................... 620
24 Precision Castparts Corp. ........................ 656
17 Schweitzer-Mauduit International, Inc. ........... 364
35 Shaw Group, Inc. (with rights)(a)+................ 411
--------
4,516
--------
CAPITAL GOODS -- 5.7%
16 Albany International Corp. Class A................ 380
72 Armor Holdings, Inc.(a)........................... 870
57 Callaway Golf Co. ................................ 796
20 DuPont Photomasks, Inc. (with rights)(a).......... 377
44 Engineered Support Systems, Inc. ................. 1,521
23 Graco, Inc. (with rights)......................... 700
77 Mattson Technology, Inc.(a)....................... 257
24 Moog, Inc. Class A(a)............................. 757
97 Nautilus Group, Inc.+............................. 1,232
57 Zygo Corp.(a)..................................... 427
--------
7,317
--------
CONSUMER CYCLICAL -- 9.5%
25 AFC Enterprises, Inc.(a).......................... 398
13 CEC Entertainment, Inc.(a)........................ 394
50 Chico's FAS, Inc.(a)+............................. 1,205
18 Granite Construction, Inc. ....................... 296
14 Guitar Center, Inc.(a)............................ 322
59 Hollywood Entertainment Corp.(a).................. 1,044
24 Hot Topic, Inc.(a)................................ 597
696 i2 Technologies, Inc. (with rights)(a)(f)......... 243
53 J. Jill Group, Inc.(a)............................ 759
156 Lexar Media, Inc.(a).............................. 757
14 Overture Services, Inc. (with rights)(a).......... 150
59 Pacific Sunwear of California, Inc.(a)............ 1,342
44 PolyMedica Corp.+................................. 1,635
19 RARE Hospitality International, Inc.(a)........... 539
14 Sonic Corp.(a).................................... 389
96 Too, Inc. (with rights)(a)........................ 1,785
69 Tweeter Home Entertainment Group, Inc.(a)......... 400
--------
12,255
--------
CONSUMER STAPLES -- 2.5%
58 Constellation Brands, Inc. Class A(a)............. 1,560
52 Hain Celestial Group, Inc.(a)..................... 905
37 Sensient Technologies Corp. ...................... 813
--------
3,278
--------
ENERGY -- 4.6%
39 Cabot Oil & Gas Corp. ............................ 965
43 Cal Dive International, Inc.(a)................... 688
103 Chesapeake Energy Corp. (with rights)............. 829
85 Frontier Oil Corp. ............................... 1,445
28 Patina Oil & Gas Corp. (with rights).............. 977
27 Southwestern Energy Co.(a)........................ 353
36 Unit Corp.(a)..................................... 696
--------
5,953
--------
FINANCE AND INSURANCE -- 15.5%
22 American Capital Strategies Ltd.+................. 543
43 AMERIGROUP Corp.(a)............................... 1,249
37 Arden Realty, Inc. (REIT)......................... 882
37 Brookline Bancorp, Inc. .......................... 492
23 Camden Property Trust (REIT)...................... 786
41 Chelsea Property Group, Inc. (REIT)............... 1,614
81 Clark/Bardes, Inc.(a)............................. 944
28 Downey Financial Corp. ........................... 1,207
19 Financial Federal Corp.(a)........................ 414
25 First BanCorp Puerto Rico......................... 766
9 FNB Corp. ........................................ 261
18 Hancock Holding Co. .............................. 824
26 Hanmi Financial Corp. ............................ 426
109 Investment Technology Group, Inc.. (with
rights)(a) 1,555
6 Jefferies Group, Inc. ............................ 241
139 Metris Companies, Inc.+........................... 503
95 NetBank, Inc. (with rights)....................... 951
3 Old Second Bancorp, Inc. ......................... 131
9 Pacific Northwest Bancorp......................... 245
10 Peoples Bancorp, Inc. ............................ 226
27 People's Bank..................................... 711
29 PS Business Parks, Inc. .......................... 899
63 Reinsurance Group of America, Inc. ............... 1,793
10 S&T Bancorp, Inc. ................................ 281
21 Staten Island Bancorp, Inc. ...................... 353
19 Sun Communities, Inc. (REIT)...................... 748
8 Texas Regional Bancshares, Inc. Class A........... 304
12 WFS Financial, Inc.(a)............................ 273
13 Whitney Holding Corp. ............................ 429
--------
20,051
--------
HEALTH CARE -- 15.8%
66 Abgenix, Inc. (with rights)(a).................... 624
40 Amylin Pharmaceuticals, Inc.(a)................... 774
7 Arrow International, Inc. ........................ 316
184 Ciphergen Biosystems, Inc.(a)..................... 900
35 CONMED Corp.(a)................................... 608
56 Coventry Health Care, Inc. (with rights)(a)....... 2,278
55 CV Therapeutics, Inc. (with rights)(a)............ 1,107
113 Gene Logic, Inc.(a)............................... 746
165 Genzyme Corp. -- Genzyme Biosurgery. Division(a) 324
157 Genzyme Molecular Oncology(a)..................... 316
84 Guilford Pharmaceuticals, Inc.(a)................. 409
35 ILEX Oncology, Inc. (with rights)(a).............. 462
293 Incyte Corp.(a)................................... 1,011
25 Invacare Corp. ................................... 783
14 Kos Pharmaceuticals, Inc.(a)+..................... 275
7 Neurocrine Biosciences, Inc.(a)................... 326
33 Neurogen Corp.(a)................................. 126
49 NPS Pharmaceuticals, Inc.(a)...................... 930
75 Nu Skin Enterprises, Inc. ........................ 679
39 OSI Pharmaceuticals, Inc. (with rights)(a)........ 821
67 Perrigo Co. ...................................... 1,035
68 Pharmacopeia, Inc.(a)............................. 606
53 Regeneron Pharmaceutical, Inc.(a)................. 337
39 Respironics, Inc.(a).............................. 1,483
76 SangStat Medical Corp.(a)......................... 963
250 Sequenom, Inc. (with rights)(a)................... 504
</Table>
106
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE(C)
- --------- --------
COMMON STOCK -- (CONTINUED)
HEALTH CARE -- (CONTINUED)
75 Vertex Pharmaceuticals, Inc.(a)................... $ 909
44 Viasys Healthcare, Inc. (with rights)(a).......... 708
--------
20,360
--------
SERVICES -- 17.0%
11 Advisory Board Co.(a)............................. 417
16 ADVO, Inc.(a)..................................... 645
22 Argosy Gaming Co.(a).............................. 454
40 Beasley Broadcast Group, Inc. Class A(a).......... 449
22 Black Box Corp. .................................. 686
63 Catalina Marketing Corp.(a)....................... 1,123
28 Coinstar, Inc.(a)................................. 512
167 Dendrite International, Inc.(a)................... 1,707
46 Embarcadero Technologies, Inc.(a)................. 316
105 Exelixis, Inc.(a)................................. 892
63 Foundry Networks, Inc.(a)......................... 688
177 Gartner, Inc. Class A(a).......................... 1,406
223 Hollywood Media Corp.(a).......................... 185
101 IDX Systems Corp.(a).............................. 1,482
30 ITT Educational Services, Inc.(a)................. 882
39 MAXIMUS, Inc.(a).................................. 950
115 Mentor Graphics Corp. (with rights)(a)............ 1,195
47 Molecular Devices Corp. (with rights)(a).......... 592
40 PracticeWorks, Inc. (with rights)(a).............. 470
104 PRG-Schultz International, Inc.(a)................ 665
130 Radiant Systems, Inc.(a).......................... 824
26 Resources Connection, Inc.(a)..................... 562
131 Right Management Consultants, Inc.(a)............. 1,643
20 Stratos Lightwave, Inc. (with rights)(a).......... 75
392 UnitedGlobalCom, Inc. Class A(a)+................. 1,508
29 Viad Corp. ....................................... 581
49 Watson Wyatt & Co. Holdings, Inc.(a).............. 992
--------
21,901
--------
TECHNOLOGY -- 20.6%
60 Actel Corp.(a).................................... 1,181
45 Activision, Inc.(a)............................... 690
212 Actuate Corp.(a).................................. 385
25 AMETEK, Inc. ..................................... 943
21 Benchmark Electronics, Inc. (with rights)(a)...... 555
130 Cirrus Logic, Inc.(a)............................. 353
41 CSG Systems International, Inc.(a)................ 436
27 CTS Corp. ........................................ 223
12 Cymer, Inc.(a).................................... 340
35 Electronics for Imaging, Inc.(a).................. 674
29 Emulex Corp.(a)................................... 592
86 ESS Technology, Inc.(a)........................... 594
31 Esterline Technologies Corp.(a)................... 548
44 Exar Corp.(a)..................................... 646
30 Fairchild Semiconductor Corp. Class A(a).......... 355
60 FileNET Corp.(a).................................. 920
64 Fisher Scientific International, Inc.(a).......... 1,832
21 FLIR Systems, Inc.(a)............................. 1,099
121 General Communication, Inc. Class A(a)............ 746
54 Genesis Microchip, Inc.(a)+....................... 921
24 IDT Corp.(a)...................................... 347
38 Intrado, Inc.(a).................................. 391
18 InVision Technologies, Inc.(a)+................... 418
29 Kronos, Inc.(a)................................... 1,332
151 Manufacturers' Services Ltd.(a)................... 581
218 Maxtor Corp.(a)................................... 1,196
35 Methode Electronics, Inc. ........................ 369
333 MRV Communications, Inc.(a)....................... 459
11 NetFlix Inc.(a)+.................................. 245
97 Powerwave Technologies, Inc. (with rights)(a)..... 389
59 Rayovac Corp.(a).................................. 618
16 Roper Industries, Inc. ........................... 492
73 Roxio, Inc (with rights)(a)....................... 384
97 Silicon Storage Technology, Inc.(a)............... 306
14 Take-Two Interactive Software, Inc.(a)............ 308
65 Tekelec(a)........................................ 702
144 TeleCommunication Systems, Inc. Class A(a)........ 271
220 Therma-Wave, Inc.(a).............................. 115
294 Trizetto Group, Inc. (with rights)(a)............. 1,586
36 Varian, Inc. (with rights)(a)..................... 1,138
274 Visual Networks, Inc.(a).......................... 338
59 Western Digital Corp. (with rights)(a)............ 552
--------
26,570
--------
TRANSPORTATION -- 3.4%
62 AirTran Holdings, Inc.(a)......................... 488
67 EGL, Inc.(a)...................................... 1,081
10 Polaris Industries, Inc. (with rights)+........... 502
12 SCS Transportation, Inc.(a)....................... 147
21 USFreightways Corp. .............................. 584
27 Werner Enterprises, Inc. ......................... 599
39 Yellow Corp.(a)................................... 1,050
--------
4,451
--------
Total common stock
(cost $146,975)................................. $126,652
========
</Table>
<Table>
<Caption>
PRINCIPAL
AMOUNT
- ---------
SHORT-TERM INVESTMENTS -- 10.1%
COLLATERAL FOR SECURITIES LENDING -- 8.3%
$ 4,656 Evergreen Cash Management Money Market Fund....... $ 4,656
6,090 Evergreen Institutional Money Market Fund......... 6,090
--------
10,746
--------
FINANCE -- 1.8%
1,843 Joint Repurchase Agreement,
1.27%, 05/01/2003 (Note 2f)..................... 1,843
450 US Treasury Bill,
1.13%, 07/10/2003(e)............................ 449
--------
2,292
--------
Total short-term investments
(cost $13,038).................................. $ 13,038
========
Total investments in securities
(cost $160,013)(b).............................. $139,690
========
</Table>
107
THE HARTFORD SMALLCAP GROWTH FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
STATEMENT OF ASSETS AND LIABILITIES:
ASSETS
Investments in securities, at value................. $139,690
Receivables:
Investment securities sold........................ 756
Fund shares sold.................................. 139
Dividends and interest............................ 28
Other assets........................................ 100
--------
Total assets........................................ 140,713
--------
LIABILITIES
Payables:
Payable upon return of securities loaned (Note
2).............................................. 10,746
Investment securities purchased................... 409
Fund shares redeemed.............................. 264
Payable for investment advisory and management
fees (Note 3)................................... 97
Payable for distribution fees (Note 3)............ 15
Accrued expenses.................................... 33
--------
Total liabilities................................... 11,564
--------
Net assets.......................................... $129,149
========
</Table>
<Table>
SUMMARY OF SHAREHOLDERS' EQUITY:
Capital stock, par value $0.001 per share; 100,000
shares authorized; 8,135 shares outstanding...... $244,045
Accumulated undistributed net investment loss...... (566)
Accumulated net realized loss on investments....... (94,110)
Unrealized depreciation of investments in
securities....................................... (20,220)
--------
Net assets......................................... $129,149
========
</Table>
<Table>
Class A
Net asset value per share ($6,167 / 379 shares
outstanding)...................................... $16.30
------
Maximum offering price per share ($16.30 / 94.5%)... $17.25
======
Class B
Net asset value per share ($2,426 / 162 shares
outstanding)...................................... $14.98
======
Class C
Net asset value per share ($2,057 / 137 shares
outstanding)...................................... $14.97
------
Maximum offering price per share ($14.97 / 99.0%)... $15.12
======
Class H
Net asset value per share ($15,851 / 1,057 shares
outstanding)...................................... $14.99
======
Class L
Net asset value per share ($84,651 / 5,198 shares
outstanding)...................................... $16.28
------
Maximum offering price per share ($16.28 /95.25%)... $17.09
======
</Table>
<Table>
Class M
Net asset value per share ($13,564 / 906 shares
outstanding)................................... $14.98
======
Class N
Net asset value per share ($4,432 / 296 shares
outstanding)................................... $14.99
======
Class Y
Net asset value per share ($1 / @@ shares
outstanding)................................... $16.36
======
</Table>
<Table>
(a) Presently non-income producing.
(b) At April 30, 2003, the cost of securities for federal income tax purposes
is $160,755 and the aggregate gross unrealized appreciation and
depreciation based on that cost was:
</Table>
<Table>
Unrealized appreciation........................ $ 11,426
Unrealized depreciation........................ (32,491)
--------
Net unrealized depreciation.................... $(21,065)
========
</Table>
<Table>
(c) See Note 2b of accompanying Notes of Financial Statements regarding
valuation of securities.
(d) Note: Percentage of investments as shown is the ratio of the total market
value to total net assets.
(e) Security pledged as initial margin deposit for 5 open Russell 2000 Index
June 2003 Futures contracts. As of April 30, 2003, these contracts had a
value of $997 with unrealized appreciation of $103.
(f) Securities issued within the terms of a private placement memorandum,
exempt from registration under Section 144A of the Securities Act of
1933, as amended, and may be sold only to dealers in that program or to
other "accredited investors". This investment has been identified by
portfolio management as an illiquid security:
</Table>
<Table>
<Caption>
PERIOD COST
ACQUIRED SHARES/PAR SECURITY BASIS
-------- ---------- -------- -----
2002-2003 696 i2 Technologies, Inc. $843
</Table>
<Table>
The aggregate value of this security at April 30, 2003, was $243, which
represents .19% of total net assets.
+ Security is fully or partially on loan as of April 30, 2003. See Note 2d
of accompanying Notes to Financial Statements.
@@ Due to the presentation of the financial statements in thousands, the
number or shares and/or dollars round to zero.
</Table>
108
THE HARTFORD STOCK FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE(C)
- --------- ----------
COMMON STOCK -- 98.8%
BASIC MATERIALS -- 6.3%
807 Alcoa, Inc. ...................................... $ 18,509
543 Dow Chemical Co. ................................. 17,724
211 DuPont (E.I.) de Nemours & Co. ................... 8,965
578 Gillette Co. (with rights)........................ 17,591
437 International Paper Co. .......................... 15,605
360 Kimberly-Clark Corp. ............................. 17,897
----------
96,291
----------
CAPITAL GOODS -- 3.0%
102 Boeing Co. ....................................... 2,771
237 Illinois Tool Works, Inc. ........................ 15,163
204 Northrop Grumman Corp. (with rights).............. 17,924
166 United Technologies Corp. ........................ 10,267
----------
46,125
----------
CONSUMER CYCLICAL -- 7.6%
228 Caterpillar, Inc. (with rights)................... 11,988
560 Costco Wholesale Corp.(a)......................... 19,396
545 Gap, Inc. ........................................ 9,065
832 Home Depot, Inc. ................................. 23,413
27 Kohl's Corp.(a)................................... 1,545
362 Masco Corp. (with rights)......................... 7,625
303 NIKE, Inc. Class B................................ 16,209
1,093 Safeway, Inc.(a).................................. 18,162
270 Target Corp. (with rights)........................ 9,025
----------
116,428
----------
CONSUMER STAPLES -- 7.1%
740 Coca-Cola Co. .................................... 29,912
405 General Mills, Inc. .............................. 18,279
261 Kraft Foods, Inc. Class A......................... 8,065
179 Pepsi Bottling Group, Inc. ....................... 3,681
667 PepsiCo, Inc. .................................... 28,868
168 Procter & Gamble Co. ............................. 15,059
120 Weyerhaeuser Co. ................................. 5,931
----------
109,795
----------
ENERGY -- 7.1%
272 Anadarko Petroleum Corp. (with rights)............ 12,055
359 Chevron Texaco Corp. (with rights)................ 22,547
1,535 Exxon Mobil Corp. ................................ 54,043
239 Halliburton Co. (with rights)..................... 5,113
355 Schlumberger Ltd. ................................ 14,894
----------
108,652
----------
FINANCE AND INSURANCE -- 18.6%
760 American International Group, Inc. ............... 44,045
348 Bank of America Corp. ............................ 25,747
542 Bank One Corp. ................................... 19,528
1,334 Citigroup, Inc. .................................. 52,352
316 Fannie Mae........................................ 22,846
508 Franklin Resources, Inc. ......................... 17,730
380 HSBC Holdings plc+................................ 20,806
55 KeyCorp........................................... 1,326
429 Marsh & McLennan Companies, Inc. (with rights).... 20,445
418 Merrill Lynch & Co., Inc. ........................ 17,138
524 State Street Corp. (with rights).................. 18,349
541 Travelers Property Casualty Corp. Class B......... 8,793
475 U.S. Bancorp (with rights)........................ 10,521
197 Wachovia Corp. (with rights)...................... 7,516
----------
287,142
----------
HEALTH CARE -- 18.0%
616 Abbott Laboratories (with rights)................. 25,012
284 Amgen, Inc. (with rights)(a)...................... 17,418
74 Aventis S.A. ADR+................................. 3,705
772 Baxter International, Inc. (with rights).......... 17,758
133 Cardinal Health, Inc. ............................ 7,341
745 CVS Corp. ........................................ 18,046
414 Genzyme Corp. -- General Division(a).............. 16,656
420 HCA, Inc. ........................................ 13,472
139 IDEC Pharmaceuticals Corp.(a)..................... 4,562
431 Lilly (Eli)& Co. (with rights).................... 27,519
105 Medtronic, Inc. (with rights)..................... 5,017
270 Merck & Co., Inc. ................................ 15,714
1,992 Pfizer, Inc. (with rights)........................ 61,267
1,139 Schering-Plough Corp. (with rights)............... 20,618
549 Wyeth (with rights)............................... 23,907
----------
278,012
----------
SERVICES -- 6.7%
1,032 Accenture Ltd. Class A(a)......................... 16,536
447 Automatic Data Processing, Inc. .................. 15,039
481 Comcast Corp. Class A(a).......................... 15,347
447 Computer Sciences Corp.(a)........................ 14,712
202 FedEx Corp. ...................................... 12,102
169 Gannett Co., Inc. (with rights)................... 12,797
57 Marriott International, Inc. Class A (with
rights)......................................... 2,033
186 SAP AG ADR........................................ 4,750
468 Waste Management, Inc. ........................... 10,167
----------
103,483
----------
TECHNOLOGY -- 23.9%
2,865 AOL Time Warner, Inc. (with rights)(a)............ 39,197
1,590 Cisco Systems, Inc. (with rights)(a).............. 23,914
198 First Data Corp. ................................. 7,760
2,155 General Electric Co. ............................. 63,468
1,548 Hewlett-Packard Co. .............................. 25,224
2,178 Intel Corp. ...................................... 40,066
479 International Business Machines Corp. ............ 40,667
1,749 Liberty Media Corp. Class A(a).................... 19,241
207 Lockheed Martin Corp. ............................ 10,360
2,540 Microsoft Corp. .................................. 64,955
607 Oracle Corp. (with rights)(a)..................... 7,208
575 SBC Communications, Inc. ......................... 13,432
346 Verizon Communications, Inc. ..................... 12,915
----------
368,407
----------
TRANSPORTATION -- 0.5%
242 CSX Corp. (with rights)........................... 7,733
----------
Total common stock
(cost $1,833,057)............................... $1,522,068
==========
</Table>
109
THE HARTFORD STOCK FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE(C)
- --------- ----------
SHORT-TERM INVESTMENTS -- 1.2%
COLLATERAL FOR SECURITIES LENDING -- 0.3%
$ 5,260 Boston Global Investment Trust........ $ 5,260
FINANCE -- 0.9%
13,098 Joint Repurchase Agreement,
1.27%, 05/01/2003 (Note 2f)......... 13,098
----------
Total short-term investments
(cost $18,358)...................... $ 18,358
----------
Total investments in securities
(cost $1,851,415)(b)................ $1,540,426
==========
</Table>
<Table>
STATEMENT OF ASSETS AND LIABILITIES:
ASSETS
Investments in securities, at value............... $1,540,426
Cash.............................................. 1
Receivables:
Investment securities sold...................... 20,641
Fund shares sold................................ 1,697
Dividends and interest.......................... 2,438
Other assets...................................... 617
----------
Total assets...................................... 1,565,820
----------
LIABILITIES
Payables:
Payable upon return of securities loaned (Note
2)............................................ 5,260
Investment securities purchased................. 16,887
Fund shares redeemed............................ 2,023
Payable for investment advisory and management
fees (Note 3)................................. 878
Payable for distribution fees (Note 3).......... 170
Accrued expenses.................................. 727
----------
Total liabilities................................. 25,945
----------
Net assets........................................ $1,539,875
==========
</Table>
<Table>
SUMMARY OF SHAREHOLDERS' EQUITY:
Capital stock, par value $0.001 per share; 300,000
shares authorized; 110,640 shares outstanding... $2,363,757
Accumulated undistributed net investment income... 1,026
Accumulated net realized loss on investments...... (513,919)
Unrealized depreciation of investments in
securities...................................... (310,989)
----------
Net assets........................................ $1,539,875
==========
</Table>
<Table>
Class A
Net asset value per share ($873,429 / 61,511
shares outstanding)............................. $14.20
------
Maximum offering price per share
($14.20 / 94.5%)................................ $15.03
======
Class B
Net asset value per share ($341,045 / 25,267
shares outstanding)............................. $13.50
======
Class C
Net asset value per share ($294,782 / 21,776
shares outstanding)............................. $13.54
------
Maximum offering price per share
($13.54 / 99.0%)................................ $13.68
======
Class Y
Net asset value per share ($30,619 / 2,086 shares
outstanding).................................... $14.68
======
</Table>
<Table>
(a) Presently non-income producing.
(b) At April 30, 2003, the cost of securities for federal income tax purposes
is $1,855,478 and the aggregate gross unrealized appreciation and
depreciation based on that cost was:
</Table>
<Table>
Unrealized appreciation....................... $ 25,257
Unrealized depreciation....................... (340,309)
---------
Net unrealized depreciation................... $(315,052)
=========
</Table>
<Table>
(c) See Note 2b of accompanying Notes to Financial Statements regarding
valuation of securities.
(d) 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 1.90% of total net assets as of April 30, 2003.
+ Security is fully or partially on loan as of April 30, 2003. See Note 2d
of accompanying Notes to Financial Statements.
@@ Due to the presentation of the financial statements in thousands, the
number or shares and/or dollars round to zero.
</Table>
110
THE HARTFORD TAX-FREE CALIFORNIA FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
STANDARD
PRINCIPAL AND POOR'S MARKET
AMOUNT RATING VALUE(B)
- --------- ---------- ----------
MUNICIPAL BONDS -- 90.3%
AIRPORT REVENUES -- 6.8%
$400 San Francisco (City of), CA
5.00%, City & County Airport Commission
International Airport Rev AMT Second Ser Issue
15A 05/01/2028.................................. AAA $ 403
425 San Jose (City of), CA
5.00%, Airport Rev Ref AMT Ser B 03/01/2010..... AAA 460
-------
863
-------
GENERAL OBLIGATIONS -- 9.6%
100 Azusa (City of), CA
5.75%, Special Tax Comm Fac Dist #1 Mountain
Cove-A 09/01/2021............................... NR 98
50 Beaumont (City of), CA
7.25%, Financing Auth Rev Ser A 09/01/2020...... NR 54
300 California (State of)
5.00%, General Obligation 10/01/2032............ A 296
250 California (State of)
5.25%, General Obligation 02/01/2033............ A 253
60 Indio (City of), CA
6.35%, Public Improvement Act 1915 Special
Assessment 2002-3 09/02/2027.................... NR 59
425 Solano (County of), CA
5.25%, General Obligation 11/01/2021............ AAA 457
-------
1,217
-------
HEALTH CARE/SERVICES -- 3.7%
200 California (State of)
5.375%, Public Works Board Dept of Mental
Health-Patton-B 04/01/2028...................... A- 201
250 California (State of)
6.00%, Statewide Communities Dev Auth Rev Health
Fac Memorial Health Services Ser A 10/01/2023... A- 265
-------
466
-------
HIGHER EDUCATION (UNIVERSITIES,
DORMS, ETC.) -- 3.4%
$415 University of California
5.30%, Multi-Purpose Rev Ser K 09/01/2030....... AA 432
-------
LAND DEVELOPMENT -- 19.5%
350 Burbank (City of), CA
5.50%, Financing Auth Rev South San Fernando
Redev Proj-B 12/01/2023......................... BBB 355
400 Fontana (City of), CA
5.50%, Redev Agency Tax Allocation Ref Jurupa
Hills Redev Proj Ser A 10/01/2027............... BBB+ 406
250 Oakland (City of), CA
5.25%, Redev Agency Coliseum Area Redev Tax
Allocation 09/01/2033........................... A- 254
500 Rialto (City of), CA
5.25%, Redev Agency Tax Allocation Ref Merged
Proj Area Ser A 09/01/2027...................... BBB+ 506
410 Rocklin (City of), CA
5.50%, Redev Agency Tax Allocation Rocklin Redev
Proj Ser A 09/01/2032........................... BBB 419
200 San Diego (City of), CA
5.25%, Redev Agency Centre City Ser B
09/01/2026...................................... Baa2* 202
175 San Diego (City of), CA
5.30%, Redev Agency Tax Allocation North Park
Redev Proj 09/01/2016........................... BBB+ 178
150 San Diego (City of), CA
5.60%, Redev Agency Tax Allocation North Bay
Redev Proj 09/01/2017........................... BBB 154
-------
2,474
-------
MISCELLANEOUS -- 4.0%
600 Golden State Tobacco Securitization Corp., CA
6.625%, Tobacco Settlement Rev Ser 2003-A1
06/01/2040...................................... A- 514
-------
PUBLIC FACILITIES -- 19.2%
100 Capistrano (City of), CA
5.875%, Unified School Dist Comm Fac Dist
Special Tax #90-2 09/01/2022.................... NR 100
450 Fresno (City of), CA
5.00%, Unified School Dist Election 1995 Ser E
FGIC Insured 08/01/2025......................... AAA 467
100 Jurupa (City of), CA
5.875%, Comm Services Dist #6 Special Tax Ser A
09/01/2032...................................... NR 99
450 Los Angeles (City of), CA
5.00%, Unified School Dist Ser B 07/01/2023..... AAA 465
</Table>
The accompanying notes are an integral part of this financial statement.
111
THE HARTFORD TAX-FREE CALIFORNIA FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
STANDARD
PRINCIPAL AND POOR'S MARKET
AMOUNT RATING VALUE(B)
- --------- ---------- ----------
MUNICIPAL BONDS -- (CONTINUED)
PUBLIC FACILITIES -- (CONTINUED)
$110 Moreno Valley (City of), CA
5.60%, Unified School Dist Comm Fac Special Tax
#2002-1 09/01/2017.............................. NR $ 109
450 North City, (City of)
5.00%, Western CA School Fac Financing Auth
Special Tax AMBAC Insured 09/01/2020............ AAA 476
250 Tustin (City of), CA
5.60%, Unified School Dist Special Tax Jr Lien
Comm Fac Dist #97-1-B 09/01/2029................ NR 249
450 Vista (City of), CA
5.00%, Unified School Dist Ser A FSA Insured
08/01/2023...................................... AAA 468
-------
2,433
-------
UTILITIES -- COMBINED -- 2.2%
250 California (State of)
5.875%, Dept Water Resource, Power Supply Rev
Ser A 05/01/2016................................ BBB+ 280
-------
UTILITIES -- ELECTRIC -- 2.4%
300 Vernon (City of), CA
5.50%, Elec Sys Rev Malburg Generating Station
Proj 04/10/2033................................. BBB+ 303
-------
UTILITIES -- WATER AND SEWER -- 16.5%
500 Atwater (City of), CA
5.50%, Public Finance Auth Rev Ref Sewer & Water
Proj Ser A 05/01/2028........................... BBB 504
100 Eastern California Municipal Water Dist
5.70%, Comm Fac Special Tax Improvement Area A
#2001-02 09/01/2018............................. NR 99
405 Marin (City of), CA
5.00%, Municipal Water Dist Rev Ref AMBAC
Insured 07/01/2021.............................. AAA 426
450 Metropolitan Water Dist.
5.00%, Southern CA Waterworks Rev Ser A
07/01/2037...................................... AA 458
400 San Diego (City of), CA
5.00%, Public Fac Financing Auth Water Rev MBIA
Insured 08/01/2026.............................. AAA 413
200 Santa Margarita (City of), CA
6.00%, Water Dist Special Tax Comm Fac Dist
#99-1 09/01/2030................................ NR 200
-------
2,100
-------
WASTE DISPOSAL -- 3.0%
375 Stockton (City of), CA
5.20%, Wastewater Sys Proj Ser A MBIA Insured
09/01/2029...................................... AAA 387
-------
Total municipal bonds
(cost $11,261).............................................. $11,469
=======
SHORT-TERM INVESTMENTS -- 5.0%
FINANCE -- 5.0%
$633 Dreyfus Basic California Municipal Money Market Fund, Current
rate -- .92%................................................ 633
-------
Total short-term investments
(cost $633)................................................. $ 633
=======
Total investments in securities (cost $11,894)(a)............. $12,102
=======
</Table>
<Table>
STATEMENT OF ASSETS AND LIABILITIES:
ASSETS
Investments in securities, at value......................................... $12,102
Cash........................................................................ 649
Receivables:
Fund shares sold.......................................................... 2
Dividends and interest.................................................... 126
Other assets................................................................ 36
-------
Total assets................................................................ 12,915
-------
LIABILITIES
Payables:
Investment securities purchased........................................... 200
Payable for investment advisory and management
fees (Note 3)........................................................... 6
Payable for distribution fees (Note 3).................................... 1
Accrued expenses............................................................ 4
-------
Total liabilities........................................................... 211
-------
Net assets.................................................................. $12,704
=======
</Table>
<Table>
SUMMARY OF SHAREHOLDERS' EQUITY:
Capital stock, par value $0.001 per share; 300,000 shares authorized;
1,250 shares outstanding.................................................. $12,523
Accumulated undistributed net investment income............................ 1
Accumulated net realized loss on investments............................... (28)
Unrealized appreciation of investments in securities....................... 208
-------
Net assets......................................... $12,704
=======
</Table>
The accompanying notes are an integral part of this financial statement.
112
- --------------------------------------------------------------------------------
<Table>
Class A
Net asset value per share ($9,867 / 971 shares
outstanding).................................... $10.16
------
Maximum offering price per share ($10.16 /
95.5%).......................................... $10.64
======
Class B
Net asset value per share ($1,648 / 162 shares
outstanding).................................... $10.16
======
Class C
Net asset value per share ($1,189 / 117 shares
outstanding).................................... $10.16
------
Maximum offering price per share ($10.16 /
99.0%).......................................... $10.26
======
</Table>
<Table>
(a) At April 30, 2003, the cost of securities for federal income tax purposes
is $11,894 and the aggregate gross unrealized appreciation and
depreciation based on that cost was:
</Table>
<Table>
Unrealized appreciation.......................... $223
Unrealized depreciation.......................... (15)
----
Net unrealized appreciation...................... $208
====
</Table>
<Table>
(b) See Note 2b of accompanying Notes to Financial Statements regarding
valuation of securities.
(c) Note: Percentage of investments as shown is the ratio of the total market
value to total net assets.
</Table>
The accompanying notes are an integral part of this financial statement.
113
THE HARTFORD TAX-FREE MINNESOTA FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
STANDARD
PRINCIPAL AND POOR'S MARKET
AMOUNT RATING VALUE(B)
- --------- ---------- --------
MUNICIPAL BONDS -- 97.0%
AIRPORT REVENUES -- 2.7%
$1,000 Minneapolis & St. Paul (Cities of), MN,
Metropolitan Airport Commission Airport Rev AMT
Ser B FGIC Insured 5.625%, 01/01/2018........... AAA $ 1,073
-------
GENERAL OBLIGATIONS -- 42.7%
1,000 Anoka-Hennepin (Counties of), MN, Independent
School District #11 School District Credit
Enhancement Program A 5.00%, 02/01/2015......... AA+ 1,081
1,300 Becker (City of), MN, Independent School District
#726 General Obligation Ser A 6.00%, 02/01/2017.. AAA* 1,494
1,000 Bloomington (City of), MN, Independent School
District #271 General Obligation Ser A 5.45%,
02/01/2012....................................... Aa1* 1,105
500 Brainerd (City of), MN, Independent School
District #181 Ser A FGIC Insured
5.375%, 02/01/2016............................... AAA* 561
1,500 Brainerd (City of), MN, Rev Ref Evangelical
Lutheran-Good Samaritan Proj Ser B FSA Insured
6.65%, 03/01/2017................................ AAA 1,525
620 Hennepin (County of), MN, General Obligation Ser
B 5.00%, 12/01/2017.............................. AAA 661
1,250 Hopkins (City of), MN, Independent School
District #270 General Obligation
5.00%, 02/01/2011................................ Aa1* 1,381
835 Minneapolis (City of), MN, General Obligation Ser
B 4.75%, 12/01/2010.............................. AAA 914
500 Minneapolis (City of), MN, General Obligation Ref
Ser D 5.00%, 02/01/2016.......................... AAA 538
250 Minneapolis (City of), MN, Independent School
District #001 General Obligation 5.00%,
02/0/2009........................................ AAA 279
250 Minneapolis (City of), MN, Parking Assessment
General Obligation 5.00%, 12/01/2020 AAA 263
1,000 Minnesota (State of),.............................
General Obligation 5.25%, 08/1/2016............. AAA 1,091
375 Moorhead (City of), MN, Independent School
District #152 General Obligation FGIC Insured
5.00%, 04/01/2018............................... AAA* 400
785 Mounds View (City of), MN, Independent School
District #621 General Obligation Ser A 5.25%,
02/01/2014...................................... Aa1* 866
500 Osseo (City of), MN, Independent School District
#279 General Obligation Ser B 5.00%, 02/01/2012. Aa1* 543
250 Ramsey (County of), MN, General Obligation
Capital Improvement Ser A 4.50%, 02/01/2009..... AAA 272
1,950 Rosemount (City of), MN, Independent School
District #196 Zero Coupon General Obligation Ser
A MBIA Insured 5.70%, 04/01/2015(d)............. AA+ 1,177
250 St. Paul (City of), MN, General Obligation
Capital Improvement Ser A 5.00%, 03/01/2007..... AAA 275
650 St. Paul (City of), MN, Independent School
District #625 General Obligation Ser B 5.00%,
02/01/2010...................................... AA+ 722
500 St. Paul (City of), MN, Independent School
District #625 General Obligation Ser B 5.00%,
02/01/2011...................................... AA+ 553
1,000 University of MN (Regents of), General Obligation
Ser A 5.75%, 07/01/2018......................... AA 1,194
-------
16,895
-------
HEALTH CARE/SERVICES -- 14.2%
1,500 Minneapolis (City of), MN, Health Care Sys Rev
Fairview Health Services Ser B MBIA Insured
5.125%, 05/15/2008.............................. AAA 1,668
350 Minneapolis (City of), MN, Health Care Fac Rev
Shelter Care Foundation Ser A
6.00%, 04/01/2010............................... NR 346
250 Minneapolis (City of), MN, Health Care Sys Rev
Allina Health Sys Ser A
6.00%, 11/15/2018................................ A3* 269
1,000 Minnesota (State of) Agriculture and Economic Dev
Board, Healthcare Fac Rev Benedictine Health Ser
A 5.25%, 02/15/2014.............................. AAA 1,096
</Table>
The accompanying notes are an integral part of this financial statement.
114
- --------------------------------------------------------------------------------
<Table>
<Caption>
STANDARD
PRINCIPAL AND POOR'S MARKET
AMOUNT RATING VALUE(B)
- --------- ---------- --------
MUNICIPAL BONDS -- (CONTINUED)
HEALTH CARE/SERVICES -- (CONTINUED)
$ 250 Rochester (City of), MN, Health Care Fac Rev Mayo
Foundation/Mayo Medical Center Ser I 5.80%,
11/15/2007....................................... AA $ 283
500 Rochester (City of), MN, Health Care Fac Rev Mayo
Foundation/Mayo Medical Center Ser I 5.90%,
11/15/2010....................................... AA 580
1,000 Waconia (City of), MN, Health Care Fac Rev
Ridgeview Med Ctr Proj Ser A Asset Guaranty
Secured 6.10%, 01/01/2019........................ AA 1,118
250 Willmar (City of), MN, Minnesota Rice Memorial
Hosp Proj FSA Insured
5.00%, 02/01/2025................................ Aaa* 260
-------
5,620
-------
HIGHER EDUCATION (UNIV., DORMS, ETC.) -- 5.3%
1,000 Minnesota (State of), Higher Educ Fac Auth, Rev
for University of St. Thomas Ser 4-P 5.375%,
04/01/2018....................................... A2* 1,058
1,000 Minnesota (State of), Higher Educ Fac Auth, Rev
for University of St. Thomas Ser 4-P 5.40%,
04/04/2023....................................... A2* 1,034
-------
2,092
-------
HOUSING (HFA'S, ETC.) -- 6.9%
730 Minneapolis (City of), MN, Redev Mtg Rev
Riverplace Proj Ser A 7.10%, 01/01/2020.......... A2* 730
1,000 Minnesota (State Of), Housing Finance Agency,
Residential Housing Finance Ser E
5.00%, 01/01/2020................................ AA+ 1,021
1,000 Washington (County of), MN, Housing and Redev
Auth Governmental Rev Ref-Woodland Park
Apartment Proj 4.60%, 04/01/2022................. AA 975
-------
2,726
-------
MISCELLANEOUS -- 5.7%
800 Children's Trust Fund, Puerto Rico, Tobacco
Settlement Rev 5.625%, 05/15/2043................ A- 634
1,000 Golden Valley (City of), MN, Breck School Proj
Rev 5.875%, 10/01/2019........................... A2* 1,093
500 St. Paul (City of), MN, Port Auth Lease Rev
Office Bldg 5.00%, 12/01/2019.................... AA+ 529
-------
2,256
-------
POLLUTION CONTROL -- 1.9%
750 International Falls (City of), MN, Environmental
Fac Rev Ref-Boise Cascade Corp Proj
7.20%, 10/01/2024................................ Baa3* 768
-------
PUBLIC FACILITIES -- 1.4%
500 Puerto Rico, Public Buildings Auth Rev
Commonwealth Gtd Ref Govt Fac Ser C
5.00%, 07/01/2007................................ A- 546
-------
REFUNDED WITH U.S. GOV'T SECURITIES -- 1.3%
500 Red Wing (City of), MN, Elderly Housing Fac Rev
River Region Obligated Group Ser C (prerefunded
09/01/2005 @ 100)
6.50%, 09/01/2022................................ NR 519
-------
TRANSPORTATION -- 2.9%
1,000 Puerto Rico, Commonwealth Highway &
Transportation Auth Rev Ser W FSA Insured 5.50%,
07/01/2013....................................... AAA 1,162
-------
UTILITIES -- ELECTRIC -- 9.0%
1,000 Northern MN Municipal Power Agency, Elec Sys Rev
FSA Insured 5.30%, 01/01/2021.................... AAA 1,059
1,295 Northern MN Municipal Power Agency, Zero Coupon
Elec Sys Rev Ref Ser A AMBAC Insured 6.94%,
01/01/2011(d).................................... AAA 970
960 Rochester (City of), MN, Elec Utility Rev Ser A
AMBAC Insured 4.375%, 12/01/2016................. AAA 991
500 Southern MN Municipal Power Agency, Power Supply
Sys Rev Ser A AMBAC Insured
5.00%, 01/01/2008................................ AAA 555
-------
3,575
-------
</Table>
The accompanying notes are an integral part of this financial statement.
115
THE HARTFORD TAX-FREE MINNESOTA FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
STANDARD
PRINCIPAL AND POOR'S MARKET
AMOUNT RATING VALUE(B)
- --------- ---------- --------
MUNICIPAL BONDS -- (CONTINUED)
UTILITIES -- WATER AND SEWER -- 3.0%
$1,000 Puerto Rico, Commonwealth
Aqueduct & Sewer Auth
Rev Ref 6.25%, 07/01/2013... A- $ 1,177
-------
Total municipal bonds
(cost $35,915).......................... $38,409
=======
SHORT-TERM INVESTMENTS -- 1.5%
FINANCE -- 1.5%
579 State Street Bank Tax Free Money Market,
Current rate -- 0.72%................... 579
-------
Total short-term investments $ 579
(cost $579)............................. =======
Total investments in securities
(cost $36,494)(a)....................... $38,988
=======
</Table>
<Table>
STATEMENT OF ASSETS AND LIABILITIES:
ASSETS
Investments in securities, at value.................. $38,988
Receivables:
Fund shares sold................................... 104
Dividends and interest............................. 518
Other assets......................................... 20
-------
Total assets......................................... 39,630
-------
LIABILITIES
Payables:
Fund shares redeemed............................... 14
Payable for investment advisory and management
fees (Note 3).................................... 23
Payable for distribution fees (Note 3)............. 1
Accrued expenses..................................... 3
-------
Total liabilities.................................... 41
-------
Net assets........................................... $39,589
=======
</Table>
<Table>
SUMMARY OF SHAREHOLDERS' EQUITY:
Capital stock, par value $0.001 per share; 100,000
shares authorized; 3,738 shares outstanding........ $37,010
Accumulated undistributed net investment income...... 14
Accumulated net realized gain on investments......... 71
Unrealized appreciation of investments in
securities......................................... 2,494
-------
Net assets........................................... $39,589
=======
</Table>
<Table>
Class A
Net asset value per share ($3,156 / 300 shares
outstanding).................................. $10.53
------
Maximum offering price per share
($10.53 / 95.5%).............................. $11.03
======
Class B
Net asset value per share ($653 / 62 shares
outstanding).................................. $10.54
======
Class C
Net asset value per share ($402 / 38 shares
outstanding).................................. $10.56
------
Maximum offering price per share
($10.56 / 99.0%).............................. $10.67
======
Class E
Net asset value per share ($31,286 / 2,951
shares outstanding)........................... $10.60
------
Maximum offering price per share
($10.60 / 95.5%).............................. $11.10
======
Class H
Net asset value per share ($361 / 34 shares
outstanding).................................. $10.59
======
Class L
Net asset value per share ($2,956 / 280 shares
outstanding).................................. $10.57
------
Maximum offering price per share
($10.57 / 95.5%).............................. $11.07
======
Class M
Net asset value per share ($560 / 53 shares
outstanding).................................. $10.57
======
Class N
Net asset value per share ($214 / 20 shares
outstanding).................................. $10.59
======
Class Y
Net asset value per share ($1 / @@ shares
outstanding).................................. $10.56
======
</Table>
<Table>
(a) At April 30, 2003, the cost of securities for income tax purposes is
$36,494 and the aggregate gross unrealized appreciation and depreciation
based on that cost was:
</Table>
<Table>
Unrealized appreciation.......................... $2,668
Unrealized depreciation.......................... (174)
------
Net unrealized appreciation...................... $2,494
======
</Table>
<Table>
(b) See Note 2b of accompanying Notes to Financial Statements regarding
valuation of securities.
(c) Note: Percentage of investments as shown is the ratio of the total market
value to total net assets.
(d) The interest rate disclosed for these securities represents the effective
yield on the date of acquisition.
@@ Due to the presentation of the financial statements in thousands, the
number or shares and/or dollars round to zero.
* Moody's Rating.
</Table>
The accompanying notes are an integral part of this financial statement.
116
THE HARTFORD TAX-FREE NATIONAL FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
STANDARD
PRINCIPAL AND POOR'S MARKET
AMOUNT RATING VALUE(B)
- --------- ---------- --------
MUNICIPAL BONDS -- 96.0%
ALABAMA -- 2.5%
$1,855 Huntsville (City of), AL, 5.25%,. General
Obligation Ser A 05/01/2022 (General
Obligations)................................... AA $ 1,971
-------
ALASKA -- 0.7%
500 Anchorage (City of), AK, 5.50%,. General
Obligation Ser A MBIA Insured 06/01/2019
(General Obligations).......................... AAA 552
-------
ARIZONA -- 5.6%
1,800 Phoenix (City of), AZ, 6.25%,. General Obligation
Ref Ser A 07/01/2017 (General Obligations)..... AA+ 2,254
500 Sundance Community Fac Dist, AZ, 7.125%,
Assessment Dist Special Assessment Rev
07/01/2027 (Public Facilities)................. NR 501
1,225 Tucson (City of), AZ, 5.50%, Water Rev Ref
07/01/2014 (Utilities -- Water and Sewer)...... A+ 1,415
200 Vistancia Community Fac Dist,. AZ, 6.75%, General
Obligation 07/15/2022 (Housing (HFA's, etc.)).. NR 202
-------
4,372
-------
CALIFORNIA -- 9.9%
$ 750 California (State of), 5.25%,. General Obligation
02/01/2033 (General Obligations)............... A 759
80 California (State of), 5.50%, Dept. Water Res Rev
Ser W 12/01/2010 (Escrowed to Maturity)
(Utilities -- Water and Sewer)................. AA 94
420 California (State of), 5.50%, Dept Water Res Rev
Ser W 12/01/2010 (Unrefunded)
(Utilities -- Water and Sewer)................. AA 486
750 California (State of), 5.875%,. Dept Water Res
Power Supply Rev Ser A 05/01/2016
(Utilities -- Combined)........................ BBB+ 842
500 California (State of), 6.75%,. General Obligation
08/01/2011 (General Obligations)............... A 599
250 Capistrano (City of), CA, 5.875%, Unified School
Dist Comm Fac Dist Special Tax #90-2 Talega
09/01/2021 (Public Facilities)................. NR 250
250 Capistrano (City of), CA, 5.90%, Unified School
Dist Comm Fac Dist Special Tax #90-2 Talega
09/01/2020 (Public Facilities)................. NR 249
95 Eastern California Municipal Water Dist, 5.70%,
Comm Fac Special Tax Improvement Area A #2001-02
09/01/2018 (Utilities -- Water and Sewer)...... NR 94
400 Golden State Tobacco. Securitization Corp., CA,
6.625%, Tobacco Settlement Rev Ser 2003-A1
06/01/2040 (Miscellaneous)..................... A- 343
40 Indio (City of), CA, 6.35%,. Public Improvement
Act 1915 Special Assessment #2002-3 09/02/2027
(General Obligations).......................... NR 39
400 Jurupa (City of), CA, 5.875%,. Comm Services Dist
#6 Special Tax Ser A 09/01/2032 (Public
Facilities).................................... NR 397
500 Moreno Valley (City of), CA,. 6.00%, Unified
School Dist Comm Fac Dist Spec Tax #2002-1
09/01/2022 (Public Facilities)................. NR 502
500 San Diego (City of), CA, 5.25%,. Redev Agency
Centre City Ser B 09/01/2026 (Land
Development)................................... Baa2* 504
4,000 Southern California Public Power. Auth, 6.36%,
Zero Coupon Transmission Proj Rev 07/01/2013 (d)
(Utilities -- Electric)........................ A+ 2,604
-------
7,762
-------
COLORADO -- 0.7%
500 Platte River Power Auth, CO,. 5.25%, Power Rev Ser
EE 06/01/2010 (Utilities -- Electric).......... AA- 564
-------
FLORIDA -- 6.1%
1,000 Collier (County of), FL, 5.375%, School Board
Certificate of Participation FSA Insured
02/15/2020 (Public Facilities)................. Aaa* 1,088
500 Colonial Country Club Community Dev Dist, FL,
6.40%, Cap Improvement Rev 05/01/2033 (Public
Facilities).................................... NR 501
</Table>
The accompanying notes are an integral part of this financial statement.
117
THE HARTFORD TAX-FREE NATIONAL FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
STANDARD
PRINCIPAL AND POOR'S MARKET
AMOUNT RATING VALUE(B)
- --------- ---------- --------
MUNICIPAL BONDS -- (CONTINUED)
FLORIDA -- (CONTINUED)
$1,250 Florida (State of), 5.375%, Dept. of Environmental
Protection Preservation Rev Ser A MBIA Insured
07/01/2015 (Pollution Control)................. AAA $ 1,405
500 Gateway Services, 5.50%, Comm. Dev Dist of FL
Special Assessment Sun City Center Fort Meyers
Proj B 05/01/2010 (Miscellaneous).............. NR 500
500 Hillsborough (County of), FL,. 5.50%, Industrial
Dev Auth Pollution Control Rev Tampa Elec Proj
10/01/2023 (Pollution Control)................. BBB 480
750 Miami (City of), FL, 5.50%,. Homeland Defense
General Obligation MBIA Insured 01/01/2020
(General Obligations).......................... AAA 824
-------
4,798
-------
GEORGIA -- 7.1%
1,105 Fulton (County of), GA, 5.375%,. School Dist
General Obligation 01/01/2018 (General
Obligations)................................... AA 1,274
1,765 Fulton (County of), GA, 6.375%,. Water & Sewer Rev
FGIC Insured 01/01/2014 (Escrowed to Maturity)
(Utilities -- Water and Sewer)................. AAA 2,157
35 Fulton (County of), GA, 6.375%,. Water & Sewer Rev
FGIC Insured 01/01/2014 (Unrefunded)
(Utilities -- Water and Sewer)................. AAA 42
750 Georgia (State of), 5.25%, Road. and Tollway Auth
Rev Governor's Transportation Choices 03/01/2009
(Transportation)............................... AAA 850
40 Georgia (State of), 6.50%,. Municipal Elec Auth
Power Rev Ser Y 01/01/2017 (Escrowed to
Maturity) (Utilities -- Electric).............. A 50
960 Georgia (State of), 6.50%,. Municipal Elec Auth
Power Rev Ser Y 01/01/2017 (Unrefunded)
(Utilities -- Electric)........................ A 1,200
-------
5,573
-------
HAWAII -- 1.1%
500 Hawaii (State of), 5.50%, General. Obligation Ref
Ser CY 02/01/2011 (General Obligations)........ AAA 572
250 Honolulu (City of), HI, 5.00%,. City and County
Board Water Supply Sys Rev FSA Insured
07/01/2009 (Utilities -- Water and Sewer)...... AAA 280
-------
852
-------
ILLINOIS -- 4.1%
$ 960 Chicago (City of), IL, 5.25%,. Board of Educ
General Obligation Ser A MBIA Insured 12/01/2019
(General Obligations).......................... AAA 1,038
1,000 Illinois (State of), 5.25%, General. Obligation
First Ser 02/01/2011 (General Obligations)..... AAA 1,121
500 Illinois (State of), 5.70%, Educ. Fac Auth Rev Ref
Augustana College Ser A 10/01/2031 (Higher
Education (Univ., Dorms, etc.))................ Baa1* 502
500 Round Lake (City of), IL, 6.70%,. Special Tax Rev
03/01/2033 (Public Facilities)................. NR 511
-------
3,172
-------
KANSAS -- 1.4%
1,000 Johnson (County of), KS, 5.25%,. Ind School Dist
#229 General Obligation Ser A 10/01/2012
(General Obligations).......................... AA 1,104
-------
KENTUCKY -- 1.4%
1,000 Christian (County of), KY,. 6.00%, Hosp Rev Ref
Jennie Stuart Medical Ser A 07/01/2013 (Health
Care/ Services)................................ A- 1,053
-------
LOUISIANA -- 0.6%
500 Louisiana (State of), 5.50%,. Public Fac Auth Rev
Ochsner Clinic Foundation Proj Ser B 05/15/2027
(General Obligations).......................... A3* 503
-------
</Table>
The accompanying notes are an integral part of this financial statement.
118
- --------------------------------------------------------------------------------
<Table>
<Caption>
STANDARD
PRINCIPAL AND POOR'S MARKET
AMOUNT RATING VALUE(B)
- --------- ---------- --------
MUNICIPAL BONDS -- (CONTINUED)
MASSACHUSETTS -- 1.4%
$ 940 Massachusetts (State of), 5.25%,. General
Obligation Consolidated Loan Ser B 03/01/2021
(Unrefunded) (General Obligations).............. AAA $ 1,008
60 Massachusetts (State of), 5.25%,. General
Obligation Consolidated Loan Ser B FSA Insured
03/01/2021 (Prerefunded 03/01/2012 @ 100)
(Refunded with U.S. Gov't Securities)........... AAA 68
-------
1,076
-------
MICHIGAN -- 5.6%
300 Detroit (City of), MI, 5.375%,. General Obligation
Ref Ser B MBIA Insured 04/01/2014 (General
Obligations).................................... AAA 335
500 Detroit (City of), MI, 5.50%,. General Obligation
MBIA Insured 04/01/2020 (General Obligations)... AAA 546
1,750 Detroit (City of), MI, 6.50%, Water Supply Sys Ref
Rev FGIC Insured 07/01/2015 (Utilities -- Water
and Sewer)...................................... AAA 2,199
500 Michigan (State of), 5.625%,. Hosp Fin Auth Rev
Ref Henry Ford Health Sys Ser A 03/01/2017
(Health Care/ Services)......................... A- 523
750 Michigan Strategic Fund, 5.50%,. General
Obligation Rev Dow Chemical Proj 12/01/2028
(General Obligations)........................... A- 756
-------
4,359
-------
MINNESOTA -- 4.7%
1,140 Fergus Falls (City of), MN,. 6.50%, Health Care
Fac Rev Lake Region Hosp Proj A 09/01/2018
(Health Care/ Services)......................... BBB+ 1,182
750 Minneapolis (City of), MN,. 6.00%, Health Care Sys
Rev Allina Health Sys Ser A 11/15/2018 (Health
Care/ Services)................................. A3* 807
670 Minneapolis (City of), MN,. 7.00%, Health Care Fac
Rev St. Olaf Residence Inc. Proj Ser 1993
10/01/2012 (Health Care/Services)............... NR 668
1,000 Minnesota Housing Finance. Agency, 5.00%,
Residential Housing Finance Ser E 01/01/2020
(Housing (HFA's, etc.).......................... AA+ 1,021
-------
3,678
-------
MISSISSIPPI -- 0.4%
$ 250 Lowndes (County of), MS, 6.80%, Solid Waste
Disposal & Pollution Control Rev Ref
Weyerhaeuser Co Proj Ser A 04/01/2022 (Pollution
Control)......................................... BBB 289
-------
MISSOURI -- 0.7%
500 Missouri (State of), 5.50%, State Dev Financial
Board Infrastructure Fac Rev Ser A 12/01/2032
(Public Facilities).............................. BBB+ 509
-------
NEVADA -- 1.0%
250 Nevada (State of), 5.50%,. Pollution Control
General Obligation Ser A-1 08/01/2009 (Pollution
Control)......................................... AA 280
500 North Las Vegas (City of), NV,. 6.40%, Local
Special Improvement Dist #60 Aliante 12/01/2022
(Land Development)............................... NR 505
-------
785
-------
NEW JERSEY -- 4.7%
750 New Jersey (State of), 5.125%,. Educ Fac Auth Rev
Stevens Institute of Technology Ser C 07/01/2022
(Higher Education (Univ., Dorms, etc.))......... A- 762
1,000 New Jersey (State of), 5.25%,. Transportation Fund
Auth Transportation Sys Ser C 12/15/2009
(Transportation)................................ AAA 1,142
1,000 New Jersey (State of), 5.50%,. Health Care Fac
Fund Auth Rev Somerset Med Ctr 07/01/2023 (e)
(Health Care/ Services)......................... Baa2* 984
</Table>
The accompanying notes are an integral part of this financial statement.
119
THE HARTFORD TAX-FREE NATIONAL FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
STANDARD
PRINCIPAL AND POOR'S MARKET
AMOUNT RATING VALUE(B)
- --------- ---------- --------
MUNICIPAL BONDS -- (CONTINUED)
$ 275 New Jersey (State of), 6.00%,. Educ Fac Auth Rev
Fairleigh Dickinson University Ser D 07/01/2025
(Higher Education (Univ., Dorms, etc.))........... NR $ 283
500 New Jersey (State of), 6.50%,. Health Care Fac
Financing Auth Rev Pascack Valley Hosp Assoc
07/01/2023 (Health Care/Services)................. BB+ 492
-------
3,663
-------
NEW YORK -- 5.8%
250 Dutchess (County of), NY,. 5.00%, Industrial Dev
Agency Civic Fac Rev Ref Marist College Ser A
07/01/2022 (Higher Education (Univ., Dorms,
etc.))............................................ Baa1* 245
265 New York (City of), NY, 5.25%,. Industrial Dev
Agency Civic Fac Rev American Council Learned
Societie 07/01/2027 (Industrial).................. A1* 274
400 New York (City of), NY, 5.65%,. Industrial Dev
Agency Rev Brooklyn Navy Yard Cogen Partners
10/01/2028 (Industrial)........................... BBB- 372
1,000 New York (City of), NY, 5.75%,. Fiscal 2003 Ser I
03/01/2019 (Miscellaneous)........................ A 1,073
1,000 New York (City of), NY, 8.25%,. General Obligation
Ser B 06/01/2005 (General Obligations) ........... A 1,122
1,000 Triborough Bridge & Tunnel Auth. of NY, 5.125%,
Rev Ref Ser B 11/15/2029 (Transportation)......... AA- 1,031
400 Westchester County, NY, 6.375%,. Industrial Dev
Agency Continuing Care Retirement Mtg-Kendal on
Hudson Proj-A 01/01/2024 (e) (Health Care/
Services)......................................... NR 394
-------
4,511
-------
NORTH CAROLINA -- 1.7%
500 North Carolina Eastern Municipal. Power Agency,
5.375%, Power Sys Rev Ref Ser C 01/01/2017
(Utilities -- Electric)........................... BBB 516
250 North Carolina Eastern Municipal. Power Agency,
5.875%, Power Sys Rev Ser D 01/01/2014
(Utilities -- Electric)........................... BBB 256
500 North Carolina Municipal Power. Agency #1, 5.50%,
Catawba Elec Rev Ser A 01/01/2014
(Utilities -- Electric)........................... BBB+ 545
-------
1,317
-------
OHIO -- 3.9%
$1,045 Cincinnati (City of), OH, 5.50%, Water Sys Rev
12/01/2011 (Utilities -- Water and Sewer)......... AA+ 1,199
300 Cuyahoga (County of), OH,. 5.50%, Rev Ref Class A
01/01/2029 (Miscellaneous)........................ A 307
1,270 Hamilton (City of), OH, 6.15%,. School Dist
Improvement Ser A 12/01/2016 (General
Obligations)...................................... AA- 1,579
-------
3,085
-------
OREGON -- 2.3%
500 Oregon (State of), 5.25%, Dept Admin Services
Certificate of Participation Ref Ser B
05/01/2013 (Public Facilities).................... AAA 562
1,000 Oregon (State of), 6.25%, Dept. Admin Services
Certificate of Participation Ser A AMBAC Insured
05/01/2018 (Prerefunded 05/01/2010 @ 101)
(Refunded with U.S. Gov't Securities)............. AAA 1,208
-------
1,770
-------
PENNSYLVANIA -- 2.9%
250 Pennsylvania (State of), 5.50%,. Turnpike Highway
Rev Ref Ser S FGIC Insured 06/01/2008
(Transportation).................................. AAA 284
1,000 Philadelphia (City of), PA, 5.00%,. General
Obligation 03/15/2028 (General Obligations)....... AAA 1,023
855 Philadelphia (City of), PA, 5.00%,. School Dist
General Obligation Ser A FSA Insured 02/01/2010
(General Obligations)............................. AAA 948
-------
2,255
-------
</Table>
The accompanying notes are an integral part of this financial statement.
120
- --------------------------------------------------------------------------------
<Table>
<Caption>
STANDARD
PRINCIPAL AND POOR'S MARKET
AMOUNT RATING VALUE(B)
- --------- ---------- --------
MUNICIPAL BONDS -- (CONTINUED)
RHODE
ISLAND --
1.7%
$1,000 Rhode Island (State of), 5.00%,. Clean Water
Finance Agency Water Pollution Control Rev
10/01/2022 (Utilities -- Water and Sewer)......... AAA $ 1,044
250 Rhode Island (State of), 6.50%,. Health & Educ
Building Corp. Rev Hosp Financing-Lifespan
Obligation Group 08/15/2032 (Health
Care/Services).................................... BBB 253
-------
1,297
-------
SOUTH CAROLINA -- 1.5%
1,000 Piedmont Municipal Power. Agency, SC, 6.25%, Elec
Rev Ref FGIC Insured 01/01/2021
(Utilities -- Electric)........................... AAA 1,206
-------
TENNESSEE -- 0.6%
500 McMinn (County of), TN,. 7.625%, Industrial Dev
Board Pollution Control Calhoun Newsprint Co
Proj 03/01/2016 (Pollution Control)............... BB+ 496
-------
TEXAS -- 5.8%
1,000 Clear Creek (City of), TX, 5.00%,. Ind School Dist
Ref General Obligation 02/15/2018 (General
Obligations)...................................... AAA 1,063
750 Houston (City of), TX, 5.50%,. Water & Sewer Rev
Ref Ser A 12/01/2013 (Utilities -- Water and
Sewer)............................................ AAA 846
500 Sam Rayburn Municipal Power. Agency, TX, 5.50%,
Rev Ref 10/01/2010 (Utilities -- Electric)........ BBB- 539
350 San Antonio (City of), TX,. 5.25%, Elec & Gas Rev
Ref Ser A 02/01/2014 (Prerefunded 02/01/2009 @
101) (Refunded with U.S. Gov't Securities).........AAA 400
650 San Antonio (City of), TX,. 5.25%, Elec & Gas Rev
Ref Ser A 02/01/2014 (Unrefunded) (Utilities --
Electric)..........................................AA+ 709
1,000 Tyler (City of), TX, 5.75%,. Health Fac Dev Corp
Hosp Rev Mother Frances Hosp 07/01/2027 (e)
(Health Care/ Services)........................... Baa1* 1,001
-------
4,558
-------
UTAH -- 2.0%
1,000 Utah (State of), 5.00%,. Transportation Auth Sales
Tax Rev Ser A FSA Insured 06/15/2025
(Transportation)...................................AAA 1,022
500 Utah (State of), 5.375%, General. Obligation Ref
Ser B 07/01/2011 (General Obligations)............ AAA 571
-------
1,593
-------
VIRGINIA -- 2.7%
$1,000 Peninsula Ports Auth of VA,. 6.00%, Port Fac CSX
Transportation Proj Rev Ref 12/15/2012
(Transportation).................................. Baa2* 1,076
1,000 Virginia (State of), 5.00%, Port. Auth
Commonwealth Rev AMT 07/01/2027 (Transportation).. AA+ 1,007
-------
2,083
-------
WASHINGTON -- 1.7%
670 King (County of), WA, 5.00%,. Ind School Dist #210
General Obligation 06/01/2019 (General
Obligations)...................................... AA+ 701
600 Washington Public Power Supply. Sys, 5.00%,
Nuclear Proj #2 Rev Ref Ser A FSA Insured
07/01/2010 (Utilities -- Electric).................AAA 659
-------
1,360
-------
WISCONSIN -- 3.7%
1,000 Badger Tobacco Asset. Securitization Corp. of WI,
6.375%, 06/01/2032 (Miscellaneous)................ A- 841
1,305 Sparta (City of), WI, 5.90%,. School Dist Ref
General Obligation FGIC Insured 03/01/2016
(Prerefunded 03/01/2010 @ 100) (General
Obligations)...................................... Aaa* 1,532
500 Wisconsin (State of), 4.85%,. Housing & Economic
Dev Auth Home Ownership Rev Ser G 09/01/2017
(Housing (HFA's, etc.)............................ AA 520
-------
2,893
-------
Total municipal bonds
(cost $70,202).................................... $75,059
=======
</Table>
The accompanying notes are an integral part of this financial statement.
121
THE HARTFORD TAX-FREE NATIONAL FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE(B)
- --------- --------
SHORT-TERM INVESTMENTS -- 2.8%
MINNESOTA -- 2.8%
$2,223 State Street Bank Tax Free Money
Market,. Current
rate -- 0.72% (Finance)............... $ 2,223
-------
Total short-term investments
(cost $2,223).......................... $ 2,223
-------
Total investments in securities
(cost $72,425)(a)...................... $77,282
=======
</Table>
<Table>
STATEMENT OF ASSETS AND LIABILITIES:
ASSETS
Investments in securities, at value.............. $77,282
Receivables:
Investment securities sold....................... 1,430
Fund shares sold................................. 690
Dividends and interest........................... 1,110
Other assets....................................... 99
-------
Total assets....................................... 80,611
-------
LIABILITIES
Payables:
Investment securities purchased.................. 2,365
Fund shares redeemed............................. 15
Payable for investment advisory and management
fees. (Note 3) 48
Payable for distribution fees (Note 3)........... 5
Accrued expenses................................... 2
-------
Total liabilities.................................. 2,435
-------
Net assets......................................... $78,176
=======
</Table>
<Table>
SUMMARY OF SHAREHOLDERS' EQUITY:
Capital stock, par value $0.001 per share; 100,000
shares. authorized; 6,980 shares outstanding $72,807
Accumulated undistributed net investment income..... 17
Accumulated net realized gain on investments........ 495
Unrealized appreciation of investments in
securities........................................ 4,857
-------
Net assets.......................................... $78,176
=======
</Table>
<Table>
Class A
Net asset value per share ($17,952 / 1,600 shares
outstanding)...................................... $11.21
------
Maximum offering price per share ($11.21 / 95.5%)... $11.74
======
Class B
Net asset value per share ($5,538 / 497 shares
outstanding)...................................... $11.15
======
Class C
Net asset value per share ($6,229 / 558 shares
outstanding)...................................... $11.17
------
Maximum offering price per share ($11.17 / 99.0%)..... $11.28
======
Class E
Net asset value per share ($36,176 / 3,227 shares
outstanding)...................................... $11.21
------
Maximum offering price per share ($11.21 / 95.5%)..... $11.74
======
Class H
Net asset value per share ($2,661 / 238 shares
outstanding)...................................... $11.18
======
Class L
Net asset value per share ($7,495 / 670 shares
outstanding)...................................... $11.19
------
Maximum offering price per share ($11.19 / 95.5%)..... $11.72
======
Class M
Net asset value per share ($1,514 / 135 shares
outstanding)...................................... $11.18
======
Class N
Net asset value per share ($610 / 55 shares
outstanding)...................................... $11.16
======
Class Y
Net asset value per share ($1 / @@ shares
outstanding)...................................... $11.22
======
</Table>
<Table>
(a) At April 30, 2003, the cost of securities for income tax purposes is
$72,425 and the aggregate gross unrealized appreciation and depreciation
based on that cost was:
</Table>
<Table>
Unrealized appreciation......................... $5,002
Unrealized depreciation......................... (145)
------
Net unrealized appreciation..................... $4,857
======
</Table>
<Table>
(b) See Note 2b of accompanying Noes to Financial Statements regarding
valuation of securities.
(c) Note: Percentage of investments as shown is the ratio of the total market
value to total net assets.
(d) The interest rate disclosed for these securities represents the effective
yield on the date of acquisition.
(e) The cost of securities purchased on a when-issued basis at April 30,
2003, was $2,365.
@@ Due to the presentation of the financial statements in thousands, the
number or shares and/or dollars round to zero.
* Moody's Rating.
</Table>
The accompanying notes are an integral part of this financial statement.
122
THE HARTFORD TAX-FREE NEW YORK FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
STANDARD
PRINCIPAL AND POOR'S MARKET
AMOUNT RATING VALUE(B)
- --------- ---------- ---------
MUNICIPAL BONDS -- 95.5%
GENERAL OBLIGATIONS -- 13.1%
$450 Elmira (City of), NY, 4.75%,. School Dist General
Obligation FGIC Insured 06/15/2020................ AAA $ 464
450 Mahopac (City of), NY, 5.00%,. Central School Dist
General Obligation Ref Ser A477 MBIA Insured
06/01/2019........................................ Aaa* 477
425 New York (City of), NY, 5.75%,. Fiscal 2003
General Obligation Ser I 03/01/2019............... A 456
-------
1,397
-------
HEALTH CARE/SERVICES -- 8.1%
200 New York (State of), 5.00%, Dorm. Auth Rev
Memorial Sloan-Kettering Ctr 07/01/2034........... AA 201
450 New York (State of), 5.00%, Dorm. Auth Rev Mental
Health Services Fac Ser B 02/15/2018.............. AA- 466
100 New York (State of), 5.50%, Dorm. Auth Winthrop
Univ. Hosp., 07/01/2023........................... Baa1* 99
100 Westchester (County of), NY,. 6.375%, Industrial
Dev Agency Continuing Care Retirement Mtg-Kendal
on Hudson Proj-A 01/01/2024 (e)................... NR 98
-------
864
-------
HIGHER EDUCATION (UNIV., DORMS, ETC.) -- 27.6%
250 Dutchess (County of), NY, 5.00%,. Industrial Dev
Agency Civic Fac Rev Ref Marist College Ser A
07/01/2022........................................ Baa1* 245
450 New York (State of), 5.00%, Dorm. Auth Lease Rev
State Univ Dorm Fac 07/01/2032.................... AA- 457
190 New York (State of), 5.00%, Dorm. Auth Rev Fordham
University FGIC Insured 07/01/2020................ AAA 200
400 New York (State of), 5.00%, Dorm. Auth Rev Mount
St. Mary College 07/01/2027....................... AA 407
450 New York (State of), 5.125%,. Dorm Auth Rev St.
Barnabas Ser A FHA Insured 02/01/2022............. AAA 474
425 New York (State of), 5.50%, Dorm. Auth Rev School
Dist Financing Program Ser D MBIA Insured
10/01/2017........................................ AAA 479
400 New York (State of), 5.75%, Dorm. Auth Rev AMBAC
Insured 07/01/2013................................ AAA 471
200 Otsego (County of), NY, 6.00%,. Industrial Dev
Agency Hartwick College Proj Ser A 07/01/2011..... Baa3* 223
-------
2,956
-------
HOUSING (HFA'S, ETC.) -- 4.4%
425 New York (State of), 5.50%, Urban. Dev Corp Rev
Personal Income Tax Ser C-1 FGIC Insured
03/15/2017........................................ AAA 475
-------
INDUSTRIAL -- 8.1%
$250 New York (City of), NY, 5.25%,. Industrial Dev
Agency Civic Fac Rev American Council Learned
Societie 07/01/2027............................... A1V* $ 259
250 New York (City of), NY, 5.25%,. Industrial Dev
Agency Civic Fac Rev YMCA of Greater NY Proj
08/01/2021........................................ A- 254
100 New York (City of), NY, 5.65%,. Industrial Dev
Agency Rev Brooklyn Navy Yard Cogen Partners
10/01/2028........................................ BBB- 93
250 New York (City of), NY, 6.45%,. Industrial Dev
Agency Civic Fac Rev Staten Island University
Hosp Proj-C 07/01/2032............................ Baa3* 259
-------
865
-------
MISCELLANEOUS -- 10.2%
200 Children's Trust Fund, Puerto Rico,. 5.625%,
Tobacco Settlement Rev 05/15/2043................. A- 159
450 New York (City of), NY, 5.00%,. Transitional
Financial Auth Ref Future Tax Secured Ser C
08/01/2023........................................ AA 463
400 New York (State of), 6.00%, Local. Assistance Corp
Ref Ser E 04/01/2014.............................. AA 476
-------
1,098
-------
POLLUTION CONTROL -- 4.3%
450 New York (State of), 5.00%,. Environmental Fac
Corp Clean Water Ser C 07/15/2026................. AAA 465
-------
PUBLIC FACILITIES -- 4.2%
450 St. Lawrence (County of), NY,. 5.00%, Industrial
Dev Civic Fac Rev Clarkson University Proj
07/01/2023........................................ A3* 453
-------
</Table>
The accompanying notes are an integral part of this financial statement.
123
THE HARTFORD TAX-FREE NEW YORK FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
STANDARD
PRINCIPAL AND POOR'S MARKET
AMOUNT RATING VALUE(B)
- --------- ---------- ---------
MUNICIPAL BONDS -- (CONTINUED)
TRANSPORTATION -- 13.1%
$450 New York (State of), 5.00%, Triborough Bridge &
Tunnel Auth Rev General Purpose Ser A 01/01/2032.. AA- $ 459
450 New York (State of), 5.125%, Metropolitan
Transportation Auth Rev Ser A 11/15/2031......... A 460
450 Port Auth of NY&NJ, 5.00%, 11/01/2021.............. AAA 479
-------
1,398
-------
UTILITIES -- ELECTRIC -- 2.4%
250 New York (State of), 5.30%, Energy Research & Dev
Auth Elec Fac Rev Adj-Long A-Island Lighting Co.
Proj-A 08/01/2025........................................... 260
-------
Total municipal bonds
(Cost $10,032).............................................. $10,231
=======
SHORT-TERM INVESTMENTS -- 5.0%
FINANCE -- 5.0%
532 Dreyfus Basic New York Municipal Money Market
Fund, Current rate -- .92%.................................. 532
-------
Total short-term investments (cost $532)...................... $ 532
=======
Total investments in securities
(cost $10,564)(a)........................................... $10,763
=======
</Table>
<Table>
STATEMENT OF ASSETS AND LIABILITIES:
ASSETS
Investments in securities, at value........................................ $10,763
Cash....................................................................... 164
Receivables:
Fund shares sold......................................................... 27
Dividends and interest................................................... 131
Other assets............................................................... 35
-------
Total assets............................................................... 11,120
-------
LIABILITIES
Payables:
Investment securities purchased.......................................... 396
Payable for investment advisory and management fees (Note 3)............. 5
Payable for distribution fees (Note 3)................................... 1
Accrued expenses........................................................... 4
-------
Total liabilities.......................................................... 406
-------
Net assets................................................................. $10,714
=======
</Table>
<Table>
SUMMARY OF SHAREHOLDERS' EQUITY:
Capital stock, par value $0.001 per share; 300,000
shares authorized; 1,046 shares outstanding.............................. $10,461
Accumulated net realized gain on investments and
foreign currency transactions............................................ 54
Unrealized appreciation of investments in securities
and the translations of assets and liabilities
denominated in foreign currency.......................................... 199
-------
Net assets................................................................. $10,714
=======
</Table>
<Table>
Class A
Net asset value per share ($8,372 / 817 shares
outstanding)........................................................... $ 10.25
---------
Maximum offering price per share ($10.25 / 95.5%)........................ $ 10.73
=========
Class B
Net asset value per share ($1,045 / 102 shares
outstanding)........................................................... $ 10.25
=========
Class C
Net asset value per share ($1,297 / 127 shares
outstanding)........................................................... $ 10.25
=========
Maximum offering price per share ($10.25 / 99.0%)........................ $ 10.35
=========
</Table>
<Table>
(a) At April 30, 2003, the cost of securities for federal income tax purposes
is $10,564 and the aggregate gross unrealized appreciation and
depreciation based on that cost was:
</Table>
<Table>
Unrealized appreciation..................................................... $234
Unrealized depreciation........................... (35)
----
Net unrealized appreciation............................................... $199
====
</Table>
<Table>
(b) See Note 2b of accompanying Notes to Financial Statements regarding
valuation of securities.
(c) Note: Percentage of investments as shown is the ratio of the total market
value to total net assets.
(d) The interest rate disclosed for these securities represents the effective
yield on the date of acquisition.
(e) The cost of securities purchased on a when-issued basis at April 30, 2003
was $98.
* Moody's Rating.
</Table>
The accompanying notes are an integral part of this financial statement.
124
THE HARTFORD TOTAL RETURN BOND FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
STANDARD
PRINCIPAL AND POOR'S MARKET
AMOUNT RATING VALUE(C)
- --------- ---------- --------
ASSET BACKED AND COMMERCIAL MORTGAGE SECURITIES -- 3.7%
FINANCE -- 3.7%
$ 1,800 American Express Credit Account Master Trust,
Inc.
5.95%, Ser 1999-2 Class A 12/15/2006............ AAA $ 1,885
1,920 Capital Auto Receivables Asset. Trust
3.82%, Ser 2002-2 Class A 07/15/2005............ AAA 1,960
1,150 Chase Manhattan Auto Owner Trust
3.49%, Ser 2002-A Class A3 03/15/2006........... AAA 1,170
2,850 Citibank Credit Card Master Trust I
5.50%, Ser 1999-1 Class A 02/15/2006............ AAA 2,944
600 Comed Transitional Funding Trust
5.44%, Ser 1998-1 Class A5 03/25/2007........... AAA 626
2,710 Daimler Chrysler Auto Trust
3.85%, Ser 2002-A Class A 04/06/2006............ AAA 2,785
1,650 Ford Credit Auto Owner Trust
4.29%, Ser 2003-A Class C 11/15/2007............ BBB 1,668
2,400 Ford Credit Auto Owner Trust
6.99%, Ser 2000-E Class B 02/15/2005............ AA- 2,465
2,200 Honda Auto Receivables Owner Trust
5.09%, Ser 2001-2 Class A4 10/18/2006........... AAA 2,277
2,046 LB-UBS Commercial Mortgage Trust
2.72%, Ser 2003-C1 Class A1 03/15/2027.......... AAA 2,049
750 PP&L Transition Bond Co
6.83%, Ser 1999-1 Class A5 03/25/2007........... AAA 798
320 Soundview Home Equity Loan Trust, Inc.
8.64%, Ser 2000-1 Class M1 05/25/2030........... AA 343
--------
20,970
--------
Total asset backed and commercial mortgage
securities (cost $20,966)....................... $ 20,970
========
CORPORATE BONDS: INVESTMENT GRADE -- 35.5%
BASIC MATERIALS -- 3.4%
850 BHP Billiton Finance USA B.V.
4.80%, 04/15/2013............................... A 868
1,240 Champion International Corp.
7.20%, 11/01/2026............................... BBB 1,432
500 Cypress Amax Minerals Co.
8.375%, 02/01/2023.............................. BBB- 502
1,270 Domtar, Inc.
7.875%, 10/15/2011.............................. BBB- 1,508
720 Ferro Corp.
7.125%, 04/01/2028.............................. BBB- 600
1,200 Inco Ltd.
7.75%, 05/15/2012............................... BBB- 1,385
430 International Paper Co.
6.75%, 09/01/2011+.............................. BBB 487
500 Mead Corp.
7.55%, 03/01/2047............................... BBB 561
840 Olin Corp.
9.125%, 12/15/2011.............................. BBB- 951
440 Phelps Dodge Corp.
8.75%, 06/01/2011............................... BBB- 497
2,130 Phelps Dodge Corp.
9.50%, 06/01/2031............................... BBB- 2,450
400 Placer Dome, Inc.
7.125%, 05/15/2003.............................. BBB+ 401
600 Placer Dome, Inc.
7.125%, 06/15/2007.............................. BBB+ 680
640 Potash Corp. of Saskatchewan, Inc.
7.125%, 06/15/2007.............................. BBB+ 724
1,025 Potash Corp. of Saskatchewan, Inc.
7.75%, 05/31/2011............................... BBB+ 1,227
1,900 Potlatch Corp.
12.50%, 12/01/2009.............................. Baa3* 2,111
675 Santa Fe Pacific Gold Corp.
8.375%, 07/01/2005.............................. BBB 738
2,000 Union Camp Corp.
7.00%, 08/15/2006............................... BBB 2,240
--------
19,362
--------
</Table>
<Table>
<Caption>
STANDARD
PRINCIPAL AND POOR'S MARKET
AMOUNT RATING VALUE(C)
- --------- ---------- --------
CAPITAL GOODS -- 1.0%
$ 550 International Game Technology
8.375%, 05/15/2009.............................. BBB- $ 656
1,045 Rockwell International Corp.
5.20%, 01/15/2098............................... A 807
1,500 Rockwell International Corp.
6.70%, 01/15/2028............................... A 1,657
2,425 Tyco International Group S.A.
3.125%, 01/15/2023(h)........................... BBB- 2,458
--------
5,578
--------
</Table>
The accompanying notes are an integral part of this financial statement.
125
THE HARTFORD TOTAL RETURN BOND FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
STANDARD
PRINCIPAL AND POOR'S MARKET
AMOUNT RATING VALUE(C)
- --------- ---------- --------
CORPORATE BONDS: INVESTMENT GRADE -- (CONTINUED)
CONSUMER
CYCLICAL -- 2.2%
$ 1,200 CRH America, Inc.
6.95%, 03/15/2012 .............................. BBB+ $ 1,363
2,250 Daimler Chrysler N.A. Holding Corp.
7.30%, 01/15/2012+ ............................. BBB+ 2,558
2,040 Diageo Capital plc
3.375%, 03/20/2008.............................. A+ 2,044
2,080 Ford Motor Co.
6.625%, 10/01/2028 ............................. BBB 1,696
1,500 General Motors Corp.
7.20%, 01/15/2011 .............................. BBB 1,538
1,335 Leggett & Platt, Inc.
4.70%, 04/01/2013 .............................. A+ 1,347
1,600 Meyer (Fred), Inc.
7.375%, 03/01/2005 ............................. Baa3* 1,729
300 Nine West Group, Inc.
8.375%, Ser B 08/15/2005 ....................... BBB 334
--------
12,609
--------
CONSUMER STAPLES -- 1.9%
1,370 Archer-Daniels-Midland Co.
6.95%, 12/15/2097 .............................. A+ 1,605
1,000 ConAgra Foods, Inc.
2.02%, 09/10/2003(e) ........................... BBB+ 1,001
625 ConAgra Foods, Inc.
7.00%, 10/01/2028 .............................. BBB+ 703
2,135 ConAgra Foods, Inc.
7.50%, 09/15/2005 .............................. BBB+ 2,376
1,580 PepsiAmericas, Inc.
5.95%, 02/15/2006 .............................. A- 1,716
1,700 Weyerhaeuser Co.
5.50%, 03/15/2005 .............................. BBB 1,786
1,200 Weyerhaeuser Co.
5.95%, 11/01/2008 .............................. BBB 1,311
--------
10,498
--------
ENERGY -- 2.4%
740 Burlington Resources Finance Co.
6.50%, 12/01/2011 .............................. BBB+ 841
1,885 Burlington Resources Finance Co.
6.68%, 02/15/2011 .............................. BBB+ 2,158
1,275 Consolidated Natural Gas Co.
5.375%, Ser B 11/01/2006 ....................... BBB+ 1,374
2,200 Consumers Energy Co.
6.25%, 09/15/2006 .............................. BBB- 2,409
500 Lasmo (USA), Inc.
7.50%, 06/30/2006 .............................. AA 579
300 Lasmo (USA), Inc.
8.375%, 06/01/2023 ............................. AA 312
650 Occidental Petroleum Corp.
7.375%, 11/15/2008 ............................. BBB 754
950 Ocean Energy, Inc.
7.25%, 10/01/2011 .............................. BBB- 1,112
830 PanCanadian Petroleum Ltd.
6.30%, 11/01/2011 .............................. A- 925
1,500 PanCanadian Petroleum Ltd.
7.20%, 11/01/2031 .............................. A- 1,792
1,150 Repsol International Finance B.V.
7.45%, 07/15/2005 .............................. BBB 1,245
--------
13,501
--------
FINANCE -- 12.8%
948 Abbey National plc
6.69%, 10/17/2005 .............................. A+ 1,049
910 Abbey National plc
6.70%, 06/29/2049 .............................. A 1,008
800 Aetna, Inc.
7.375%, 03/01/2006 ............................. BBB 889
600 Aetna, Inc.
7.875%, 03/01/2011 ............................. BBB 703
2,950 Austria (Republic of) (Euro)
4.30%, 07/15/2003 .............................. AAA 3,303
1,600 AvalonBay Communities, Inc. (REIT)
8.25%, 07/15/2008 .............................. BBB+ 1,912
2,400 Bear Stearns Co., Inc.
5.70%, 11/15/2014 .............................. A 2,560
665 Bombardier Capital, Inc.
6.125%, 06/29/2006(h) .......................... BBB+ 625
2,650 Bundesschatzanweisungen (Euro)
2.50%, 03/18/2005 .............................. AAA 2,960
4 Bundesschatzanweisungen (Euro)
3.00%, 12/10/2004 .............................. Aaa* 5
5,400 Buoni Poliennali Del Tesoro (Euro)
4.50%, 03/01/2007 .............................. AA 6,346
4,000 Buoni Poliennali Del Tesoro (Euro)
4.50%, 07/15/2003 .............................. AA 4,483
960 Capital One Multi-Asset Execution Trust
2.48%, Ser 2003-B1 Class B1 02/17/2009 ......... Aaa* 959
3,200 Citigroup, Inc.
5.875%, 02/22/2033 ............................. A+ 3,284
2,400 Credit Suisse First Boston USA, Inc.
6.125%, 11/15/2011 ............................. A+ 2,606
700 Duke Realty Corp. (REIT)
5.25%, 01/15/2010 .............................. BBB+ 737
465 ERAC USA Finance Co.
8.25%, 05/01/2005(h) ........................... BBB+ 507
4,420 FleetBoston Financial Corp.
7.25%, 09/15/2005 .............................. A 4,927
1,400 Ford Motor Credit Co.
7.375%, 02/01/2011 ............................. BBB 1,419
1,184 French Treasury Note (Euro)
4.50%, 07/12/2003 .............................. AAA 1,326
</Table>
The accompanying notes are an integral part of this financial statement.
126
- --------------------------------------------------------------------------------
<Table>
<Caption>
STANDARD
PRINCIPAL AND POOR'S MARKET
AMOUNT RATING VALUE(C)
- --------- ---------- --------
CORPORATE BONDS: INVESTMENT GRADE -- (CONTINUED)
FINANCE -- (CONTINUED)
$ 2,500 General Electric Capital Corp.
5.45%, 01/15/2013................................ AAA $ 2,655
941 General Motors Acceptance Corp.
6.125%, 09/15/2006+.............................. BBB 977
850 Goldman Sachs Group, Inc.
5.25%, 04/01/2013................................ A+ 875
4,250 KFW International Finance, Inc.
2.60%, 03/15/2006................................ AAA 4,283
3,570 KFW International Finance, Inc.
3.00%, 09/15/2005................................ AAA 3,626
1,440 Morgan Stanley Dean Witter & Co.
7.75%, 06/15/2005................................ A+ 1,609
1,769 Morgan Stanley Dean Witter. Capital I
4.09%, Ser 2002-IQ2 Class A1 12/15/2035.......... AAA 1,840
1,032 Morgan Stanley Dean Witter. Capital I
5.02%, Ser 2001-Top 5 Class A1 10/15/2035........ AAA 1,092
1,019 Morgan Stanley Dean Witter. Capital I
4.57%, Ser 2001-IQA Class A1 12/18/2032.......... AAA 1,069
1,700 Morgan Stanley
5.30%, 03/01/2013................................ A+ 1,764
4,300 New South Wales Treasury Corp. (Australian
Dollar)
7.00%, 04/01/2004(h)............................. AAA 2,744
650 Shurgard Storage Centers, Inc.
5.875%, 03/15/2013............................... BBB 663
250 Southern Investments UK plc.
6.80%, 12/01/2006................................ BBB 264
1,750 TIAA Global Markets
4.125%, 11/15/2007(h)............................ AAA 1,812
3,400 United Mexican States
4.625%, 10/08/2008............................... BBB- 3,448
720 Wachovia Corp.
7.55%, 08/18/2005................................ A 808
720 Wellpoint Health Networks, Inc.
6.375%, 06/15/2006............................... A- 795
--------
71,932
--------
$ 680 HCA, Inc.
6.95%, 05/01/2012................................ BBB- 731
300 HCA, Inc.
7.50%, 11/15/2095................................ BBB- 287
785 HCR Manor Care, Inc.
7.50%, 06/15/2006................................ BBB 843
750 Humana, Inc.
7.25%, 08/01/2006................................ BBB 808
1,255 Manor Care, Inc.
6.25%, 05/01/2013(h)............................. BBB 1,272
640 Pharmacia Corp.
6.50%, 12/01/2018................................ AAA 767
600 Quest Diagnostics, Inc.
6.75%, 07/12/2006+............................... BBB- 663
--------
5,371
--------
SERVICES -- 2.4%
1,600 Aramark Services, Inc.
7.10%, 12/01/2006................................ BBB- 1,731
1,100 Clear Channel Communications, Inc.
6.00%, 11/01/2006................................ BBB- 1,190
735 Clear Channel Communications, Inc.
7.25%, 09/15/2003................................ BBB- 748
500 Cox Enterprises, Inc.
7.875%, 09/15/2010(h)............................ BBB 588
800 Cox Radio, Inc.
6.375%, 05/15/2005............................... BBB 839
500 FedEx Corp.
6.625%, 02/12/2004............................... BBB 519
1,200 Liberty Media Corp.
5.70%, 05/15/2013................................ BBB- 1,206
1,400 News America Holdings, Inc.
7.70%, 10/30/2025................................ BBB- 1,582
113 Paramount Communications, Inc.
7.50%, 07/15/2023................................ A- 118
590 Park Place Entertainment Corp.
7.00%, 04/15/2013(h)............................. BBB- 605
500 Scholastic Corp.
5.00%, 04/15/2013(h)............................. BBB 500
2,600 USA Networks, Inc.
6.75%, 11/15/2005................................ BBB- 2,751
960 Walt Disney Co.
7.30%, 02/08/2005................................ BBB+ 1,038
--------
13,415
--------
TECHNOLOGY -- 5.5%
2,410 AOL Time Warner, Inc.
3.34%, Zero Coupon Convertible 12/06/2019(f)..... BBB 1,440
500 Apogent Technologies, Inc.
8.00%, Ser B 04/01/2011.......................... BBB- 582
3,700 AT&T Broadband Corp.
8.375%, 03/15/2013............................... BBB 4,514
411 AT&T Corp.
8.50%, 11/15/2031................................ BBB+ 458
300 AT&T Corp.
8.50%, 11/15/2031(h)............................. BBB+ 334
2,200 AT&T Wireless Services, Inc.
7.50%, 05/01/2007................................ BBB 2,482
2,200 British Telecommunications plc.
8.875%, 12/15/2030............................... A- 2,927
</Table>
The accompanying notes are an integral part of this financial statement.
127
THE HARTFORD TOTAL RETURN BOND FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
STANDARD
PRINCIPAL AND POOR'S MARKET
AMOUNT RATING VALUE(C)
- --------- ---------- --------
CORPORATE BONDS: INVESTMENT GRADE -- (CONTINUED)
TECHNOLOGY -- (CONTINUED)
$ 1,600 Deutsche Telekom International Finance B.V.
8.25%, 06/15/2005 .............................. BBB+ $ 1,777
2,250 Deutsche Telekom International Finance B.V.
8.75%, 06/15/2030 .............................. BBB+ 2,780
810 France Telecom S.A.
10.00%, 03/01/2031 ............................. BBB- 1,077
1,250 Lockheed Martin Corp.
7.25%, 05/15/2006 .............................. BBB 1,415
1,600 Raytheon Co.
8.20%, 03/01/2006 .............................. BBB- 1,837
1,165 Sprint Capital Corp.
8.75%, 03/15/2032 .............................. BBB- 1,276
1,560 Time Warner, Inc.
7.25%, 10/15/2017 .............................. BBB+ 1,698
2,200 Verizon New York, Inc.
6.875%, Ser A 04/01/2012 ....................... A+ 2,535
3,000 Vodafone Group plc
7.75%, 02/15/2010 .............................. A 3,625
--------
30,757
--------
TRANSPORTATION -- 0.3%
1,650 Norfolk Southern Corp.
7.875%, 02/15/2004 ............................. BBB 1,729
--------
UTILITIES -- 2.6%
700 Appalachian Power Co.
2.04%, 08/20/2003(e) ........................... BBB 700
250 Cleveland Electric Illuminating Co.
7.13%, Ser B 07/01/2007 ........................ AAA 285
2,040 Commonwealth Edison Co.
4.70%, 04/15/2015 .............................. A- 2,035
850 Consolidated Edison Co. of New York
5.875%, 04/01/2033 ............................. A+ 890
565 Detroit Edison Co.
6.125%, 10/01/2010 ............................. A- 625
1,175 Duke Energy Corp.
3.75%, 03/05/2008 .............................. A 1,187
550 Duke Energy Corp.
4.50%, 04/01/2010(h) ........................... A 563
3,200 FPL Group Capital, Inc.
3.25%, 04/11/2006 .............................. A- 3,236
1,900 Illinois Power Special Purpose Trust
5.38%, Ser 1998-1 Class A5 06/25/2007 .......... AAA 1,984
200 Pacificorp
6.12%, 01/15/2006 .............................. A 219
2,400 Public Service Co. of Colorado
4.875%, 03/01/2013(h) .......................... BBB+ 2,421
125 Public Service Electric & Gas Co.
7.00%, 09/01/2024 .............................. AAA 130
265 Westar Energy, Inc.
8.50%, 07/01/2022 .............................. BBB- 279
--------
14,554
--------
Total corporate bonds: investment grade (cost
$188,465) ...................................... $199,306
========
CORPORATE BONDS: NON-INVESTMENT GRADE -- 6.1%
BASIC MATERIALS -- 0.6%
460 Abitibi-Consolidated, Inc.
8.30%, 08/01/2005 .............................. BB+ 497
850 Bowater, Inc.
9.00%, 08/01/2009+ ............................. BB+ 943
530 Georgia-Pacific Corp.
7.25%, 06/01/2028 .............................. BB+ 429
BASIC MATERIALS -- (CONTINUED)
350 Oregon Steel Mills, Inc.
10.00%, 07/15/2009+ ............................ B+ 333
1,125 Owens-Brockway Glass Containers
8.75%, 11/15/2012 .............................. BB 1,201
300 PolyOne Corp.
6.875%, 12/01/2004(g) .......................... B2* 285
--------
3,688
--------
CAPITAL GOODS -- 0.2%
985 Xerox Corp.
9.75%, 01/15/2009(h)+ .......................... B+ 1,118
--------
CONSUMER CYCLICAL -- 0.3%
465 D.R. Horton, Inc.
6.875%, 05/01/2013 ............................. BB 475
665 Gap, Inc.
6.90%, 09/15/2007 .............................. BB+ 705
470 Millennium America, Inc.
7.625%, 11/15/2026 ............................. BB+ 439
--------
1,619
--------
ENERGY -- 0.7%
500 Citgo Petroleum Corp.
11.375%, 02/01/2011(h) ......................... B+ 558
1,500 Coastal Corp.
7.625%, 09/01/2008 ............................. B 1,343
450 Pioneer Natural Resources Co.
6.50%, 01/15/2008 .............................. BB+ 489
1,465 Pioneer Natural Resources Co.
7.20%, 01/15/2028 .............................. BB+ 1,524
80 Tesoro Petroleum Corp.
9.00%, Ser B 07/01/2008+ ....................... B 76
--------
3,990
--------
FINANCE -- 0.0%
120 Interpool, Inc.
7.20%, 08/01/2007 .............................. BB 114
--------
</Table>
The accompanying notes are an integral part of this financial statement.
128
- --------------------------------------------------------------------------------
<Table>
<Caption>
STANDARD
PRINCIPAL AND POOR'S MARKET
AMOUNT RATING VALUE(C)
- --------- ---------- --------
CORPORATE BONDS: NON-INVESTMENT GRADE -- (CONTINUED)
SERVICES -- 0.8%
$ 840 Allied Waste Industries, Inc.
6.375%, 01/15/2008............................... BB- $ 823
1,560 Allied Waste Industries, Inc.
9.25%, 09/01/2012(h)............................. BB- 1,708
1,800 Starwood Hotels & Resorts Worldwide, Inc.
7.375%, 05/01/2007............................... BB+ 1,881
--------
4,412
--------
TECHNOLOGY -- 2.1%
1,030 British Sky Broadcasting Group plc
8.20%, 07/15/2009................................ BB+ 1,174
455 Global Crossing Holdings Ltd.
8.70%, 08/01/2007(a)(g).......................... NR 14
2,385 Global Crossing Holdings Ltd.
9.50%, 11/15/2009(a)(g)+......................... NR 75
1,000 Global Crossing Holdings Ltd.
9.625%, 05/15/2008(a)(g)......................... NR 31
500 KPNQwest N.V.
8.125%, 06/01/2009(a)(g)......................... NR @@
2,124 Lucent Technologies, Inc.
6.45%, 03/15/2029................................ B- 1,561
280 Lucent Technologies, Inc.
6.50%, 01/15/2028................................ B- 204
1,300 Marconi Corp. plc.
7.75%, 09/15/2010(g)............................. Ca* 364
5,272 Marconi Corp. plc.
8.375%, 09/15/2030(g)............................ Ca* 1,476
275 Nortel Networks Corp.
4.25%, Conv. 09/01/2008.......................... B 229
320 PanAmSat Corp.
6.375%, 01/15/2008............................... BB- 329
1,625 PerkinElmer, Inc.
8.875%, 01/15/2013(h)............................ BB- 1,751
2,335 Qwest Corp.
6.875%, 09/15/2033............................... B- 2,008
250 Qwest Corp.
7.25%, 10/15/2035................................ B- 223
420 Shaw Communications, Inc.
8.25%, 04/11/2010................................ BB+ 455
7,070 WorldCom, Inc.
8.25%, 05/15/2031(a)............................. NR 1,997
--------
11,891
--------
TRANSPORTATION -- 0.1%
280 Teekay Shipping Corp.
8.32%, 02/01/2008................................ BB+ 300
--------
UTILITIES -- 1.3%
1,120 Kansas Gas & Electric Co.
7.60%, 12/15/2003................................ BB+ 1,137
135 Kansas Gas & Electric Co.
8.29%, 03/29/2016................................ BB- 136
445 Mission Energy Holding Co.
13.50%, 07/15/2008............................... B- 298
850 Montana Power Co.
7.30%, 12/01/2006(h)............................. B+ 802
1,700 Southern California Edison Co.
7.125%, 07/15/2025+.............................. BB 1,653
687 Southern California Edison Co.
8.00%, 02/15/2007(h)............................. BB 749
155 Tennessee Gas Pipeline Co.
7.00%, 10/15/2028+............................... B+ 141
1,850 Transcontinental Gas Pipeline Corp.
6.125%, 01/15/2005............................... B+ 1,878
500 Transcontinental Gas Pipeline Corp.
7.25%, 12/01/2026................................ B+ 495
--------
7,289
--------
Total corporate bonds: non-investment grade (cost
$38,095).................................................... $ 34,421
========
U.S. GOVERNMENT SECURITIES -- 46.4%
FEDERAL HOME LOAN MORTGAGE -- 3.2%
17,500 5.50% 2033.................................................... 17,976
--------
FEDERAL NATIONAL MORTGAGE ASSOCIATION -- 13.5%
$ 3,070 2.15% 2005.................................................... 3,075
9,000 5.00% 2018.................................................... 9,273
29,000 5.50% 2033.................................................... 29,788
20,237 6.00% 2013 -- 2033............................................ 21,140
9,436 6.50% 2031 -- 2033............................................ 9,859
2,672 7.50% 2029 -- 2031............................................ 2,849
--------
75,984
--------
GOVERNMENT NATIONAL MORTGAGE -- 7.4%
3,706 6.00% 2032.................................................... 3,883
35,780 6.50% 2028 -- 2032............................................ 37,633
--------
41,516
--------
OTHER DIRECT FEDERAL OBLIGATIONS -- 0.5%
250 2.30% FHLB 2007(e)............................................ 264
2,750 2.24% FHLB 2005............................................... 2,756
--------
3,020
--------
U.S. TREASURY SECURITIES -- 21.8%
8,900 1.75% 2004+................................................... 8,956
6,515 3.00% 2007+................................................... 6,604
1,450 3.25% 2007+................................................... 1,490
2,000 3.50% 2006+................................................... 2,085
3,300 3.875% 2013+.................................................. 3,304
5,150 4.25% 2010(i)+................................................ 6,462
1,325 4.375% 2007+.................................................. 1,422
2,150 4.625% 2006+.................................................. 2,316
830 4.875% 2012+.................................................. 900
15,240 5.00% 2011+................................................... 16,718
18,245 5.375% 2031+.................................................. 19,908
</Table>
The accompanying notes are an integral part of this financial statement.
129
THE HARTFORD TOTAL RETURN BOND FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- ---------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE(C)
- --------- --------
U.S. GOVERNMENT SECURITIES -- (CONTINUED)
U.S. TREASURY SECURITIES -- (CONTINUED)
$ 26,400 5.875% 2005+............................ $ 29,087
1,780 6.00% 2009+............................. 2,060
1,000 6.50% 2006+............................. 1,142
1,350 6.625% 2007+............................ 1,565
500 6.75% 2005+............................. 552
7,865 6.875% 2006 -- 2025+.................... 9,366
6,770 7.25% 2016+............................. 8,730
--------
122,667
--------
Total U.S. government securities
(cost $257,140)....................... $261,163
========
<Caption>
SHARES
- ---------
COMMON STOCK -- 0.1%
TECHNOLOGY -- 0.1%
@@ AT&T Canada, Inc. Class A Voting
Shares(a)............................. 6
11 AT&T Canada, Inc. Class B Ltd.
Voting Shares(a)...................... 303
2 WilTel Communcations, Inc.(a)........... 25
--------
Total common stock
(cost $289)........................... $ 334
========
PREFERRED STOCKS -- 0.1%
CAPITAL GOODS -- 0.1%
9 Xerox Corp., Conv. 7.50%(h)............. 562
--------
Total preferred stocks
(cost $425)........................... $ 562
--------
Total long-term investments
(cost $505,380)....................... $516,756
========
<Caption>
PRINCIPAL
AMOUNT
- ---------
SHORT-TERM INVESTMENTS -- 39.4%
COLLATERAL FOR SECURITIES LENDING -- 21.8%
$122,438 Navigator Prime Portfolio............... $122,438
--------
FINANCE -- 17.6%
29,204 Joint Repurchase Agreement
1.25% due 05/01/2003 (Note 2f)........ $ 29,204
70,000 US Treasury Bill
1.10% due 05/15/2003.................. 69,926
--------
99,130
Total short-term investments
(cost $221,568)....................... $221,568
========
Total investments in securities
(cost $726,948)(b).................... $738,324
========
</Table>
<Table>
STATEMENT OF ASSETS AND LIABILITIES:
ASSETS
Investments in securities, at value................. $738,324
Foreign currency on deposit with custodian (cost
$5,444)........................................... 2,502
Unrealized appreciation in forward foreign currency
contracts......................................... 9
Receivables:
Investment securities sold........................ 13,463
Fund shares sold.................................. 3,102
Dividends and interest............................ 6,009
Other assets........................................ 238
--------
Total assets........................................ 763,647
--------
LIABILITIES
Payables:
Payable upon return of securities loaned (Note
2).............................................. 122,438
Investment securities purchased................... 75,215
Fund shares redeemed.............................. 3,205
Payable for investment advisory and management
fees (Note 3)................................... 291
Payable for distribution fees (Note 3)............ 61
Accrued expenses.................................... 94
--------
Total liabilities................................... 201,304
--------
Net assets.......................................... $562,343
========
</Table>
<Table>
SUMMARY OF SHAREHOLDERS' EQUITY:
Capital stock, par value $0.001 per share; 300,000
shares. authorized; 50,288 shares outstanding..... $537,753
Accumulated undistributed net investment income..... 1,148
Accumulated net realized gain on investments and
foreign currency transactions..................... 11,983
Unrealized appreciation of investments in securities
and the translations of assets and liabilities
denominated in foreign currency................... 11,459
--------
Net assets.......................................... $562,343
========
</Table>
<Table>
Class A
Net asset value per share ($268,696 / 24,020 shares
outstanding)...................................... $11.19
------
Maximum offering price per share ($11.19 / 95.5%)... $11.72
======
Class B
Net asset value per share ($116,505 / 10,463 shares
outstanding)...................................... $11.14
======
Class C
Net asset value per share ($124,555 / 11,147 shares
outstanding)...................................... $11.17
------
Maximum offering price per share ($11.17 / 99.0%)... $11.28
======
Class Y
Net asset value per share ($52,587 / 4,658 shares
outstanding)...................................... $11.29
======
</Table>
The accompanying notes are an integral part of this financial statement.
130
- --------------------------------------------------------------------------------
<Table>
(a) Presently non-income producing. For long-term debt securities, items
identified are in default as to payment of interest and/or principal.
(b) At April 30, 2003, the cost of securities for federal income tax purposes
is $727,345 and the aggregate gross unrealized appreciation and
depreciation based on that cost was:
</Table>
<Table>
Unrealized appreciation......................... $17,139
Unrealized depreciation......................... (6,160)
-------
Net unrealized appreciation..................... $10,979
=======
</Table>
<Table>
(c) See Note 2b of accompanying Notes to Financial Statements regarding
valuation of securities.
(d) 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 11.40% of total net assets as of April 30, 2003.
(e) Variable rate securities; the yield reported is the rate in effect as of
April 30, 2003.
(f) The interest rate disclosed for these securities represents the effective
yield on the date of acquisition.
(g) Securities issued within terms of a private placement memorandum, exempt
from registration under Section 144A of the Securities Act of 1933, as
amended, and may be sold only to dealers in that program or to other
"accredited investors". These investments have been identified by
portfolio management as illiquid securities:
</Table>
<Table>
<Caption>
PERIOD PRINCIPAL COST
ACQUIRED AMOUNT SECURITY BASIS
-------- --------- -------- ------
2001 $1,000 Global Crossing Holdings Ltd.,
due 2008......................... $ 935
2001 455 Global Crossing Holdings,Ltd.,
due 2007......................... 183
2001 2,385 Global Crossing Holdings Ltd.,
due 2009......................... 1,297
2001-2002 500 KPN Qwest N.V. due 2009.......... 294
2001 1,300 Marconi Corp. plc, due 2010...... 559
2001 5,272 Marconi Corp. plc, due 2030...... 3,091
</Table>
<Table>
(h) Securities issued within terms of a private placement memorandum, exempt
from registration under Section 144A of the Securities Act of 1933, as
amended, and may be sold only to dealers in that program or to other
'accredited investors. 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, 2003, was $22,302, which represents
3.97% of total net assets.
(i) U.S. Treasury inflation-protection 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.
+ Security is fully or partially on loan as of April 30, 2003. See Note 2d
of accompanying Notes to Financial Statements.
@@ Due to the presentation of the financial statements in thousands, the
number or shares and/or dollars round to zero.
* Moody's Rating.
</Table>
FORWARD FOREIGN CURRENCY CONTRACTS OUTSTANDING AT APRIL 30, 2003
<Table>
<Caption>
CONTRACT DELIVERY UNREALIZED
DESCRIPTION MARKET VALUE AMOUNT DATE APPRECIATION
- ----------- ------------ -------- --------- ------------
Euro (Buy) $3,009 $3,000 5/5/2003 $9
</Table>
The accompanying notes are an integral part of this financial statement.
131
THE HARTFORD U.S. GOVERNMENT SECURITIES FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE(B)
- --------- --------
U.S. GOVERNMENT SECURITIES -- 98.5%
FEDERAL HOME LOAN MORTGAGE CORPORATION -- 35.7%
MORTGAGE BACKED SECURITIES:
$ 9,402 5.50% 2032........................................ $ 9,679
6,585 6.00% 2032........................................ 6,858
28,625 6.50% 2031........................................ 30,805
667 7.00% 2029 -- 2031................................ 703
346 9.00% 2022........................................ 387
6 10.50% 2015....................................... 6
59 11.25% 2013....................................... 68
169 11.50% 2015 -- 2019............................... 194
151 11.75% 2010 -- 2011............................... 173
41 12.50% 2019....................................... 48
--------
48,921
--------
NOTES:
30,600 4.75% 2012........................................ 31,018
5,500 5.125% 2012....................................... 5,906
15,000 5.25% 2012........................................ 15,561
14,200 6.25% 2032........................................ 16,377
--------
68,862
--------
REMIC -- INTEREST ONLY:
6,280 8.23%, Ser 2498 Class LI 2014(e).................. 763
--------
REMIC -- PAC'S:
9,500 5.75%, Ser 2131 Class BH 2024..................... 9,859
8,500 6.00%, Ser 2413 Class QJ 2027..................... 8,868
8,000 6.50%, Ser 2351 Class PX 2030..................... 8,407
--------
27,134
--------
145,680
--------
FEDERAL NATIONAL MORTGAGE ASSOCIATION -- 33.4%
MORTGAGE BACKED SECURITIES:
25,809 5.50% 2015 -- 2032................................ 26,592
2,293 5.85% 2009........................................ 2,528
2,850 5.89% 2008........................................ 3,130
35,892 6.00% 2016 -- 2032................................ 37,433
1,378 6.01% 2009........................................ 1,529
2,744 6.36% 2008........................................ 3,071
4,001 6.50% 2013 -- 2015................................ 4,242
5,741 6.52% 2008........................................ 6,446
1,827 6.63% 2005........................................ 1,973
6,166 7.184% 2006....................................... 6,912
546 7.50% 2030........................................ 582
110 8.00% 2025........................................ 121
141 8.50% 2022........................................ 154
45 9.00% 2020........................................ 50
162 9.75% 2020........................................ 183
250 10.00% 2020....................................... 289
121 10.50% 2012 -- 2018............................... 139
37 10.75% 2013....................................... 41
604 11.00% 2015 -- 2020............................... 697
93 11.25% 2013....................................... 104
29 11.50% 2015....................................... 33
73 12.00% 2011 -- 2016............................... 85
147 12.50% 2015....................................... 173
--------
96,507
--------
NOTES:
5,800 4.375% 2012....................................... 5,868
--------
REMIC -- INTEREST ONLY:
4,080 8.77%, Ser 2002 -- 54 Class IJ 2022(e)............ 1,024
2,595 8.892%, Ser 2002 -- 56 Class IQ 2025(e)........... 212
--------
1,236
--------
REMIC-PAC'S:
$13,603 6.00%, Ser 2001 -- 64 Class QE 2027............... 14,209
9,500 6.00%, Ser 2001 -- 67 Class PC 2026............... 9,811
8,000 6.50%, Ser 2002 -- 21 Class PE 2032............... 8,609
--------
32,629
--------
136,240
--------
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION -- 6.4%
MORTGAGE BACKED SECURITIES:
22,481 6.50% 2031 -- 2032................................ 23,641
420 7.00% 2030........................................ 445
526 8.00% 2017 -- 2022................................ 578
1,131 9.50% 2016 -- 2019................................ 1,276
105 11.00% 2015 -- 2018............................... 122
--------
26,062
--------
OTHER DIRECT FEDERAL OBLIGATIONS -- 3.0%
FEDERAL HOME LOAN BANK:
10,750 5.75% 2012........................................ 12,081
--------
U.S. TREASURY SECURITIES -- 20.0%
12,850 3.50% 2011(d)..................................... 14,963
2,300 3.625% 2028(d).................................... 3,016
1,950 3.875% 2009(d).................................... 2,445
3,100 4.25% 2010(d)..................................... 3,890
21,100 7.25% 2016........................................ 27,210
22,700 7.50% 2016........................................ 29,893
--------
81,417
--------
Total U.S. government securities
(cost $390,823).................................. $401,480
========
SHORT-TERM INVESTMENTS -- 2.0%
COLLATERAL FOR SECURITIES LENDING -- 1.3%
5,395 Boston Global Investment Trust..................... 5,395
--------
FINANCE -- 0.7%
2,695 Joint Repurchase Agreement,
1.25%, 05/01/2003 (Note 2f)...................... 2,695
--------
Total short-term investments
(cost $8,090).................................... $ 8,090
--------
Total investments in securities
(cost $398,913)(a)............................... $409,570
========
</Table>
The accompanying notes are an integral part of this financial statement.
132
- --------------------------------------------------------------------------------
<Table>
STATEMENT OF ASSETS AND LIABILITIES:
ASSETS
Investments in securities, at value................. $409,570
Receivables:
Investment securities sold........................ 4
Fund shares sold.................................. 1,229
Dividends and interest............................ 4,038
Other assets........................................ 188
--------
Total assets........................................ 415,029
--------
LIABILITIES
Payables:
Payable upon return of securities loaned (Note 2). 5,395
Fund shares redeemed.............................. 1,590
Payable for investment advisory and management
fees (Note 3)................................... 239
Payable for distribution fees (Note 3)............ 30
Accrued expenses.................................... 32
--------
Total liabilities................................... 7,286
--------
Net assets.......................................... $407,743
========
SUMMARY OF SHAREHOLDERS' EQUITY:
Capital stock, par value $0.001 per share; 100,000
shares authorized; 40,790 shares outstanding...... $422,589
Accumulated undistributed net investment income..... 269
Accumulated net realized loss on investments........ (25,772)
Unrealized appreciation of investments in
securities........................................ 10,657
--------
Net assets.......................................... $407,743
========
Class A
Net asset value per share ($89,636 / 8,954
shares outstanding)............................. $10.01
------
Maximum offering price per share
($10.01 / 95.5%).............................. $10.48
======
Class B
Net asset value per share ($54,029 / 5,418
shares outstanding)........................... $ 9.97
======
Class C
Net asset value per share ($48,217 / 4,836
shares outstanding)........................... $ 9.97
------
Maximum offering price per share
($9.97 / 99.0%)............................... $10.07
======
Class E
Net asset value per share ($152,054 / 15,206
shares outstanding)........................... $10.00
------
Maximum offering price per share
($10.00 / 95.5%).............................. $10.47
======
Class H
Net asset value per share ($8,141 / 817 shares
outstanding).................................. $ 9.97
======
Class L
Net asset value per share ($47,801 / 4,778
shares outstanding)........................... $10.01
------
Maximum offering price per share
($10.01 / 95.5%).............................. $10.48
======
Class M
Net asset value per share ($6,200 / 622 shares
outstanding).................................. $ 9.97
======
Class N
Net asset value per share ($1,664 / 167 shares
outstanding).................................. $ 9.98
======
Class Y
Net asset value per share ($1 / @@ shares
outstanding).................................. $10.02
======
</Table>
<Table>
(a) At April 30, 2003, the cost of securities for income tax purposes is
$399,189 and the aggregate gross unrealized appreciation and depreciation
based on that cost was:
</Table>
<Table>
Unrealized appreciation......................... $11,744
Unrealized depreciation......................... (1,363)
-------
Net unrealized appreciation..................... $10,381
=======
</Table>
<Table>
(b) See Note 2b of accompanying Notes to Financial Statements regarding
valuation of securities.
(c) Note: Percentage of investments as shown is the ratio of the total market
value to total net assets.
(d) U.S. Treasury inflation-protection 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.
(e) The interest rates disclosed for interest only strips represent effective
yields based upon estimated future cash flows at April 30, 2003.
+ Security is fully or partially on loan as of April 30, 2003. See Note 2d
of accompanying Notes to Financial Statements.
@@ Due to the presentation of the financial statements in thousands, the
number or shares and/or dollars round to zero.
</Table>
The accompanying notes are an integral part of this financial statement.
133
THE HARTFORD VALUE FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE(C)
- --------- --------
COMMON STOCK -- 97.1%
BASIC MATERIALS -- 6.6%
21 Alcoa, Inc. ...................................... $ 477
20 Ashland, Inc. (with rights)....................... 599
20 DuPont (E.I.) de Nemours & Co. ................... 863
10 Kimberly-Clark Corp. ............................. 483
10 Nucor Corp. (with rights)......................... 388
10 Stanley Works..................................... 245
-------
3,055
-------
CAPITAL GOODS -- 3.0%
7 Illinois Tool Works, Inc. ........................ 435
45 Teradyne, Inc. (with rights)(a)................... 521
27 Tyco International Ltd. (with rights)............. 426
-------
1,382
-------
CONSUMER CYCLICAL -- 6.1%
34 AutoNation, Inc.(a)............................... 467
13 Caterpillar, Inc. (with rights)................... 679
44 Dollar General Corp. (with rights)................ 641
19 McDonald's Corp. ................................. 325
14 NIKE, Inc. Class B................................ 728
-------
2,840
-------
CONSUMER STAPLES -- 5.0%
21 Kellogg Co. ...................................... 684
23 PepsiCo, Inc. .................................... 987
13 Weyerhaeuser Co. ................................. 665
-------
2,336
-------
ENERGY -- 9.6%
12 Chevron Texaco Corp. (with rights)................ 741
67 Exxon Mobil Corp. ................................ 2,351
27 GlobalSantaFe Corp. .............................. 576
23 National Fuel Gas Co. ............................ 537
6 Progress Energy, Inc. ............................ 238
-------
4,443
-------
FINANCE AND INSURANCE -- 32.3%
21 ACE Ltd. ADR (with rights)........................ 691
10 Archstone-Smith Trust (REIT)...................... 232
20 Bank of America Corp. ............................ 1,481
12 Bank One Corp. ................................... 440
11 Chubb Corp. (with rights)......................... 561
11 CIGNA Corp. (with rights)......................... 570
55 Citigroup, Inc. .................................. 2,159
12 Fannie Mae........................................ 854
9 Goldman Sachs Group, Inc. ........................ 683
10 Marsh & McLennan Companies, Inc. (with rights).... 496
46 National City Corp. .............................. 1,378
9 PNC Financial Services Group, Inc. (with rights).. 395
27 St. Paul Companies, Inc. ......................... 931
10 StanCorp Financial Group, Inc. ................... 515
47 Washington Mutual, Inc. (with rights)............. 1,851
36 Wells Fargo & Co. (with rights)................... 1,747
-------
14,984
-------
HEALTH CARE -- 5.2%
10 Bard (C.R.), Inc. (with rights)................... 627
24 CVS Corp. ........................................ 586
34 Pfizer, Inc. (with rights)........................ 1,038
9 Schering-Plough Corp. (with rights)............... 154
-------
2,405
-------
SERVICES -- 3.1%
32 Comcast Corp. Special Class A(a).................. 950
22 Republic Services, Inc.(a)........................ 474
-------
1,424
-------
TECHNOLOGY -- 19.8%
34 Agere Systems, Inc. Class A(a).................... 61
50 AOL Time Warner, Inc. (with rights)(a)............ 681
35 Applied Materials, Inc.(a)........................ 505
20 AT&T Corp. ....................................... 339
16 Beckman Coulter, Inc. (with rights)............... 622
42 BellSouth Corp. (with rights)..................... 1,068
16 Emerson Electric Co. (with rights)................ 832
32 Hewlett-Packard Co. .............................. 516
54 Intel Corp. ...................................... 995
47 Nokia Oyj ADR..................................... 776
61 SBC Communications, Inc. ......................... 1,434
36 Verizon Communications, Inc. ..................... 1,327
-------
9,156
-------
TRANSPORTATION -- 3.0%
23 Shell Transport & Trading Co. plc ADR............. $ 834
36 Southwest Airlines Co. (with rights).............. 571
-------
1,405
-------
UTILITIES -- 3.4%
7 Dominion Resources, Inc. ......................... 405
16 Exelon Corp. ..................................... 849
10 Scana Corp. ...................................... 305
-------
1,559
-------
Total common stock
(cost $49,165).................................. $44,989
=======
<Caption>
PRINCIPAL
AMOUNT
- ---------
SHORT-TERM INVESTMENTS -- 3.1%
FINANCE -- 3.1%
$1,447 Joint Repurchase Agreement, 1.27% due 05/01/2003
(Note 2f)....................................... $ 1,447
-------
Total short-term investments
(cost $1,447)................................... $ 1,447
=======
Total investments in securities
(cost $50,612)(b)............................... $46,436
=======
</Table>
The accompanying notes are an integral part of this financial statement.
134
- --------------------------------------------------------------------------------
<Table>
STATEMENT OF ASSETS AND LIABILITIES:
ASSETS
Investments in securities, at value................ $46,436
Cash............................................... @@
Receivables:
Fund shares sold................................. 71
Dividends and interest........................... 128
Other assets....................................... 27
-------
Total assets....................................... 46,662
-------
LIABILITIES
Payables:
Investment securities purchased.................. 141
Fund shares redeemed............................. 116
Payable for investment advisory and management
fees (Note 3).................................. 29
Payable for distribution fees (Note 3)........... 5
Accrued expenses................................... 31
-------
Total liabilities.................................. 322
-------
Net assets......................................... $46,340
=======
</Table>
<Table>
SUMMARY OF SHAREHOLDERS' EQUITY:
Capital stock, par value $0.001 per share; 300,000
shares authorized; 5,994 shares outstanding...... $57,467
Accumulated undistributed net investment income.... 151
Accumulated net realized loss on investments....... (7,102)
Unrealized depreciation of investments in
securities....................................... (4,176)
-------
Net assets......................................... $46,340
=======
</Table>
<Table>
Class A
Net asset value per share ($31,369 / 4,049 shares
outstanding)................................... $7.75
-----
Maximum offering price per share ($7.75 / 94.5%). $8.20
=====
Class B
Net asset value per share ($5,602 / 729 shares
outstanding)................................... $7.69
=====
Class C
Net asset value per share ($9,131 / 1,186 shares
outstanding)................................... $7.70
-----
Maximum offering price per share ($7.70 / 99.0%). $7.78
=====
Class Y
Net asset value per share ($238 / 30 shares
outstanding)................................... $7.78
=====
</Table>
<Table>
(a) Presently non-income producing.
(b) At April 30, 2003, the cost of securities for federal income tax purposes
is $50,717 and the aggregate gross unrealized appreciation and
depreciation based on that cost was:
</Table>
<Table>
Unrealized appreciation......................... $ 1,608
Unrealized depreciation......................... (5,889)
-------
Net unrealized depreciation..................... $(4,281)
=======
</Table>
<Table>
(c) See Note 2b of accompanying Notes to Financial Statements regarding
valuation of securities.
(d) 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 3.47% of total net assets as of April 30, 2003.
@@ Due to the presentation of the financial statements in thousands, the
number of shares and/or dollars round to zero.
</Table>
The accompanying notes are an integral part of this financial statement.
135
THE HARTFORD VALUE OPPORTUNITIES FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE(C)
- --------- --------
COMMON STOCK -- 97.7%
BASIC MATERIALS -- 10.0%
102 Abitibi-Consolidated, Inc. ....................... $ 713
50 Alcoa, Inc. ...................................... 1,135
16 Engelhard Corp. (with rights)..................... 381
41 IMC Global, Inc. (with rights).................... 374
23 Michelin (C.G.D.E.) Class B....................... 840
26 Smurfit-Stone Container Corp. (with rights)(a).... 371
-------
3,814
-------
CAPITAL GOODS -- 8.4%
57 Axcelis Technologies, Inc.(a)..................... 325
72 Bombardier, Inc. ................................. 175
33 Flowserve Corp.(a)................................ 502
7 IHC Caland N.V. .................................. 351
38 Teradyne, Inc. (with rights)(a)................... 437
91 Tyco International Ltd. (with rights)............. 1,412
-------
3,202
-------
CONSUMER CYCLICAL -- 13.6%
6 Avery Dennison Corp. (with rights)................ 291
6 Beazer Homes USA, Inc.(a)+........................ 414
19 Blockbuster, Inc. Class A......................... 334
@@ CEC Entertainment, Inc.(a)........................ 3
36 Foot Locker, Inc. ................................ 394
37 Kroger Co. (with rights)(a)....................... 526
10 M.D.C. Holdings, Inc. ............................ 466
22 Pier 1 Imports, Inc. ............................. 403
18 Ross Stores, Inc. ................................ 667
61 TJX Companies, Inc. .............................. 1,165
21 Toll Brothers, Inc.(a)............................ 486
-------
5,149
-------
CONSUMER STAPLES -- 1.5%
8 Constellation Brands, Inc. Class A(a)............. 212
11 EnCana Corp. ..................................... 375
-------
587
-------
ENERGY -- 5.4%
16 Devon Energy Corp. ............................... 742
19 GlobalSantaFe Corp. .............................. 410
10 Petroleo Brasileiro S.A. ADR...................... 180
5 Progress Energy, Inc. ............................ 196
12 Royal Dutch Petroleum Co. NY Shares............... 507
-------
2,035
-------
FINANCE AND INSURANCE -- 31.5%
20 ACE Ltd. ADR (with rights)........................ 652
5 CIGNA Corp. (with rights)......................... 267
34 CIT Group, Inc. .................................. 684
50 Citigroup, Inc. .................................. 1,969
27 Fannie Mae........................................ 1,940
9 Freddie Mac....................................... 544
39 Hibernia Corp. Class A............................ 699
8 MBIA, Inc. ....................................... 376
28 Oxford Health Plans, Inc.(a)...................... 831
14 Platinum Underwriters Holdings Ltd. .............. 376
36 RenaissanceRe Holdings Ltd. ADR................... 1,594
6 Rent-A-Center, Inc.(a)............................ 405
10 St. Paul Companies, Inc. ......................... 330
27 Travelers Property Casualty Corp. Class B......... 437
21 UnionBanCal Corp. ................................ 844
-------
11,948
-------
HEALTH CARE -- 7.5%
19 Aventis S.A. ADR.................................. 931
9 HCA, Inc. ........................................ 295
22 Health Net, Inc. (with rights)(a)................. 577
11 Pfizer, Inc. (with rights)........................ 344
8 Triad Hospitals, Inc.(a).......................... 183
1 Wellchoice, Inc.(a)............................... 11
12 Wyeth (with rights)............................... 514
-------
2,855
-------
SERVICES -- 6.5%
29 BearingPoint, Inc. (with rights)(a)............... 238
61 Comcast Corp. Special Class A(a).................. 1,834
98 UnitedGlobalCom, Inc. Class A(a)+................. 377
-------
2,449
-------
TECHNOLOGY -- 10.8%
61 AOL Time Warner, Inc. (with rights)(a)............ 832
33 Arrow Electronics, Inc.(a)........................ 562
9 Cox Communications, Inc. Class A(a)............... 284
22 Fairchild Semiconductor Corp. Class A(a).......... 265
15 Intel Corp. ...................................... 276
11 International Business Machines Corp. ............ 934
92 McLeodUSA, Inc. Class A(a)+....................... 57
9 SBC Communications, Inc. ......................... 201
12 Seagate Technology(a)............................. 146
53 Solectron Corp. (with rights)(a).................. 170
28 Vishay Intertechnology, Inc.(a)................... 356
-------
4,083
-------
TRANSPORTATION -- 2.5%
5 Canadian National Railway Co. .................... 238
29 Continental Airlines, Inc. Class B (with
rights)(a)+ 262
5 Delta Air Lines, Inc. (with rights)............... 64
33 ExpressJet Holdings, Inc.(a)...................... 378
-------
942
-------
Total common stock................................
(cost $37,917) $37,064
=======
</Table>
The accompanying notes are an integral part of this financial statement.
136
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE(C)
- --------- --------
SHORT-TERM INVESTMENTS -- 5.0%
COLLATERAL FOR SECURITIES LENDING -- 2.8%
$1,046 Boston Global Investment Trust.................... $ 1,046
-------
FINANCE -- 2.2%
846 Joint Repurchase Agreement,
1.27% due 05/01/2003 (Note 2f).................. 846
-------
Total short-term investments
(cost $1,892)................................... $ 1,892
=======
Total investments in securities
(cost $39,809)(b) .............................. $38,956
=======
</Table>
<Table>
STATEMENT OF ASSETS AND LIABILITIES:
ASSETS
Investments in securities, at value........................... $38,956
Cash.......................................................... 1
Receivables:
Investment securities sold.................................. 273
Fund shares sold............................................ 11
Dividends and interest...................................... 53
Other assets.................................................. 63
-------
Total assets.................................................. 39,357
-------
LIABILITIES
Payables:
Payable upon return of securities loaned (Note
2)........................................................ 1,046
Investment securities purchased............................. 282
Fund shares redeemed........................................ 30
Payable for investment advisory and management
fees (Note 3)............................................. 29
Payable for distribution fees (Note 3)...................... 4
Accrued expenses.............................................. 8
-------
Total liabilities............................................. 1,399
-------
Net assets.................................................... $37,958
=======
</Table>
<Table>
SUMMARY OF SHAREHOLDERS' EQUITY:
Capital stock, par value $0.001 per share; 100,000
shares authorized; 3,904 shares outstanding $ 49,901
Accumulated undistributed net investment loss................. (80)
Accumulated net realized loss on investments and
foreign currency transactions............................... (11,010)
Unrealized depreciation of investments in
securities and the translations of assets and
liabilities denominated in foreign currency................. (853)
--------
Net assets.................................................... $ 37,958
========
</Table>
<Table>
Class A
Net asset value per share ($2,811 / 283 shares
outstanding).............................................. $ 9.92
------
Maximum offering price per share
($9.92 / 94.5%)........................................... $10.50
======
Class B
Net asset value per share ($735 / 78 shares
outstanding).............................................. $ 9.44
======
Class C
Net asset value per share ($648 / 69 shares
outstanding).............................................. $ 9.45
------
Maximum offering price per share
($9.45 / 99.0%)........................................... $ 9.55
======
Class H
Net asset value per share ($5,606 / 593 shares
outstanding).............................................. $ 9.45
======
Class L
Net asset value per share ($19,686 / 1,984
shares outstanding)....................................... $ 9.92
------
Maximum offering price per share
($9.92 / 95.25%).......................................... $10.41
======
Class M
Net asset value per share ($6,800 / 720 shares
outstanding).............................................. $ 9.45
======
Class N
Net asset value per share ($1,671 / 177 shares
outstanding).............................................. $ 9.46
======
Class Y
Net asset value per share ($1 / @@ shares
outstanding).............................................. $ 9.97
======
</Table>
<Table>
(a) Presently non-income producing.
(b) At April 30, 2003, the cost of securities for federal income tax purposes
is $40,734 and the aggregate gross unrealized appreciation and
depreciation based on that cost was:
</Table>
<Table>
Unrealized appreciation.................................... $ 2,953
Unrealized depreciation.................................... (4,731)
-------
Net unrealized depreciation................................ $(1,778)
=======
</Table>
<Table>
(c) See Note 2b of accompanying Notes of Financial Statements regarding
valuation of securities.
(d) 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 11.35% of total net assets as of April 30, 2003.
+ Security is fully or partially on loan as of April 30, 2003. See Note 2d
of accompanying Notes to Financial Statements.
@@ Due to the presentation of the financial statements in thousands, the
number or shares and/or dollars round to zero.
</Table>
The accompanying notes are an integral part of this financial statement.
137
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
STATEMENT OF OPERATIONS
FOR THE SIX-MONTH PERIOD ENDED APRIL 30, 2003
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
THE HARTFORD
THE HARTFORD CAPITAL
ADVISERS APPRECIATION
FUND FUND
------------ ------------
INVESTMENT INCOME:
Dividends................................................. $ 12,950 $ 20,186
Interest.................................................. 21,578 2,722
Securities lending........................................ 148 271
Less: Foreign tax withheld................................ -- (378)
-------- ---------
Total investment income................................. 34,676 22,801
-------- ---------
EXPENSES:
Investment advisory fees.................................. 7,155 11,272
Transfer agent fees....................................... 3,907 5,783
Distribution fees
Class A................................................. 2,086 2,813
Class B................................................. 2,765 4,358
Class C................................................. 2,050 3,647
Class H................................................. -- --
Class L................................................. -- --
Class M................................................. -- --
Class N................................................. -- --
Custodian fees............................................ 18 284
Accounting services....................................... 222 332
Registration and filing fees.............................. 163 264
Board of Director's fees.................................. 15 20
Other expenses............................................ 920 1,258
-------- ---------
Total expenses, (before reimbursements and waivers)..... 19,301 30,031
-------- ---------
Expense reimbursements.................................... (203) (224)
Class A distribution fees waived.......................... (208) (285)
-------- ---------
Total reimbursements.................................... (411) (509)
-------- ---------
Total expenses, net..................................... 18,890 29,522
-------- ---------
Net investment income (loss).............................. 15,786 (6,721)
-------- ---------
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS,
FUTURES CONTRACTS AND FOREIGN CURRENCY TRANSACTIONS:
Net realized gain (loss) on investments................... (78,757) (233,259)
Net realized gain (loss) on futures contracts............. -- --
Net realized gain (loss) on foreign currency
transactions............................................ -- (1,356)
-------- ---------
NET REALIZED GAIN (LOSS) ON INVESTMENTS, FUTURES CONTRACTS
AND FOREIGN CURRENCY TRANSACTIONS......................... (78,757) (234,615)
-------- ---------
NET CHANGES IN UNREALIZED APPRECIATION OR DEPRECIATION OF
INVESTMENTS, FUTURES CONTRACTS AND FOREIGN CURRENCY
TRANSACTIONS:
Net unrealized appreciation (depreciation) of
investments............................................. 143,662 339,071
Net unrealized appreciation (depreciation) of future
contracts............................................... -- --
Net unrealized appreciation (depreciation) on translation
of other assets and liabilities in foreign currencies... -- 917
-------- ---------
NET CHANGES IN UNREALIZED APPRECIATION OR DEPRECIATION OF
INVESTMENTS, FUTURES CONTRACTS AND FOREIGN CURRENCY
TRANSACTIONS.............................................. 143,662 339,988
-------- ---------
NET GAIN (LOSS) ON INVESTMENTS, FUTURES CONTRACTS AND
FOREIGN CURRENCY TRANSACTIONS............................. 64,905 105,373
-------- ---------
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM
OPERATIONS................................................ $ 80,691 $ 98,652
======== =========
</Table>
@@ Due to the presentation of the financial statements in thousands, the number
rounds to zero.
The accompanying notes are an integral part of these financial statements.
138
- --------------------------------------------------------------------------------
<Table>
<Caption>
THE HARTFORD THE HARTFORD THE HARTFORD
DIVIDEND THE HARTFORD GLOBAL GLOBAL FINANCIAL THE HARTFORD THE HARTFORD
AND GROWTH FOCUS COMMUNICATIONS SERVICES GLOBAL HEALTH GLOBAL LEADERS
FUND FUND FUND FUND FUND FUND
------------ ------------ -------------- ---------------- ------------- --------------
$ 14,931 $ 816 $ 25 $ 205 $ 1,188 $ 3,980
518 14 25 2 10 102
23 -- 2 2 29 120
(12) -- (2) (5) (25) (287)
-------- -------- ------ ----- ------- --------
15,460 830 50 204 1,202 3,915
-------- -------- ------ ----- ------- --------
4,264 542 30 79 928 2,103
2,147 192 9 27 331 856
1,450 107 7 16 165 584
961 93 4 13 223 336
863 125 4 12 207 353
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
12 5 3 12 12 94
126 11 1 2 19 50
92 7 @@ 1 14 38
6 1 @@ @@ 1 4
450 37 3 7 62 165
-------- -------- ------ ----- ------- --------
10,371 1,120 61 169 1,962 4,583
-------- -------- ------ ----- ------- --------
(179) (64) (6) (21) (115) (20)
(143) (11) (1) (2) (17) (59)
-------- -------- ------ ----- ------- --------
(322) (75) (7) (23) (132) (79)
-------- -------- ------ ----- ------- --------
10,049 1,045 54 146 1,830 4,504
-------- -------- ------ ----- ------- --------
5,411 (215) (4) 58 (628) (589)
-------- -------- ------ ----- ------- --------
(49,005) (14,285) (956) (493) (933) (11,411)
-- -- -- -- -- --
-- -- @@ -- 5 35
-------- -------- ------ ----- ------- --------
(49,005) (14,285) (956) (493) (928) (11,376)
-------- -------- ------ ----- ------- --------
86,863 19,004 1,563 679 12,397 29,946
-- -- -- -- -- --
-- -- @@ @@ 3 10
-------- -------- ------ ----- ------- --------
86,863 19,004 1,563 679 12,400 29,956
-------- -------- ------ ----- ------- --------
37,858 4,719 607 186 11,472 18,580
-------- -------- ------ ----- ------- --------
$ 43,269 $ 4,504 $ 603 $ 244 $10,844 $ 17,991
======== ======== ====== ===== ======= ========
</Table>
139
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
STATEMENTS OF OPERATIONS -- (CONTINUED)
FOR THE SIX-MONTH PERIOD ENDED APRIL 30, 2003
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
THE HARTFORD
THE HARTFORD GROWTH
GLOBAL TECHNOLOGY AND INCOME
FUND FUND
----------------- ------------
INVESTMENT INCOME:
Dividends................................................. $ 80 $ 2,463
Interest.................................................. 11 17
Securities lending........................................ 5 2
Less: Foreign tax withheld................................ -- --
------ --------
Total investment income................................. 96 2,482
------ --------
EXPENSES:
Investment advisory fees.................................. 193 1,200
Transfer agent fees....................................... 65 547
Distribution fees
Class A................................................. 33 362
Class B................................................. 43 207
Class C................................................. 48 204
Class H................................................. -- --
Class L................................................. -- --
Class M................................................. -- --
Class N................................................. -- --
Custodian fees............................................ 6 10
Accounting services....................................... 4 30
Registration and filing fees.............................. 3 24
Board of Director's fees.................................. @@ 3
Other expenses............................................ 13 116
------ --------
Total expenses, (before reimbursements and waivers)..... 408 2,703
------ --------
Expense reimbursements.................................... (24) (208)
Class A distribution fees waived.......................... (3) (37)
------ --------
Total reimbursements.................................... (27) (245)
------ --------
Total expenses, net..................................... 381 2,458
------ --------
Net investment income (loss).............................. (285) 24
------ --------
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS,
FUTURES CONTRACTS AND FOREIGN CURRENCY TRANSACTIONS:
Net realized gain (loss) on investments................... 71 (32,462)
Net realized gain (loss) on futures contracts............. -- 17
Net realized gain (loss) on foreign currency
transactions............................................ -- --
------ --------
NET REALIZED GAIN (LOSS) ON INVESTMENTS, FUTURES CONTRACTS
AND FOREIGN CURRENCY TRANSACTIONS......................... 71 (32,445)
------ --------
NET CHANGES IN UNREALIZED APPRECIATION OR DEPRECIATION OF
INVESTMENTS, FUTURES CONTRACTS AND FOREIGN CURRENCY
TRANSACTIONS:
Net unrealized appreciation (depreciation) of
investments............................................. 4,765 38,417
Net unrealized appreciation (depreciation) of future
contracts............................................... -- 109
Net unrealized appreciation (depreciation) on translation
of other assets and liabilities in foreign currencies... -- --
------ --------
NET CHANGES IN UNREALIZED APPRECIATION OR DEPRECIATION OF
INVESTMENTS, FUTURES CONTRACTS AND FOREIGN CURRENCY
TRANSACTIONS.............................................. 4,765 38,526
------ --------
NET GAIN (LOSS) ON INVESTMENTS, FUTURES CONTRACTS AND
FOREIGN CURRENCY TRANSACTIONS............................. 4,836 6,081
------ --------
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM
OPERATIONS................................................ $4,551 $ 6,105
====== ========
</Table>
@@ Due to the presentation of the financial statements in thousands, the number
rounds to zero.
The accompanying notes are an integral part of these financial statements.
140
- --------------------------------------------------------------------------------
<Table>
<Caption>
THE HARTFORD
THE HARTFORD INTERNATIONAL
GROWTH THE HARTFORD THE HARTFORD THE HARTFORD CAPITAL
THE HARTFORD OPPORTUNITIES HIGH YIELD INCOME INFLATION APPRECIATION
GROWTH FUND FUND FUND FUND PLUS FUND FUND
------------ ------------- ------------ ------------ ------------ -------------
$ 1,376 $ 1,232 $ 29 $ -- $ -- $ 50
39 112 11,839 418 2,312 3
8 50 51 -- -- 2
-- (3) -- -- -- (6)
-------- ------- -------- ------ ------ ----
1,423 1,391 11,919 418 2,312 49
-------- ------- -------- ------ ------ ----
1,365 1,978 822 38 236 35
19 9 352 21 90 12
15 7 201 14 49 8
12 5 255 8 68 4
11 5 235 8 160 5
122 191 -- -- -- --
329 508 -- -- -- --
102 100 -- -- -- --
21 20 -- -- -- --
5 14 7 1 1 27
1 1 22 1 8 1
34 60 12 2 3 1
2 4 2 @@ @@ @@
71 126 61 11 20 3
-------- ------- -------- ------ ------ ----
2,109 3,028 1,969 104 635 96
-------- ------- -------- ------ ------ ----
(5) (2) (72) (29) (82) (31)
(1) (1) (19) -- -- (1)
-------- ------- -------- ------ ------ ----
(6) (3) (91) (29) (82) (32)
-------- ------- -------- ------ ------ ----
2,103 3,025 1,878 75 553 64
-------- ------- -------- ------ ------ ----
(680) (1,634) 10,041 343 1,759 (15)
-------- ------- -------- ------ ------ ----
(14,911) 7,941 (21,289) (60) 171 113
-- -- -- -- -- --
-- -- 422 5 -- (1)
-------- ------- -------- ------ ------ ----
(14,911) 7,941 (20,867) (55) 171 112
-------- ------- -------- ------ ------ ----
38,030 44,953 50,312 726 (119) 394
-- -- -- -- -- --
-- -- 877 1 -- @@
-------- ------- -------- ------ ------ ----
38,030 44,953 51,189 727 (119) 394
-------- ------- -------- ------ ------ ----
23,119 52,894 30,322 672 52 506
-------- ------- -------- ------ ------ ----
$ 22,439 $51,260 $ 40,363 $1,015 $1,811 $491
======== ======= ======== ====== ====== ====
</Table>
141
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
STATEMENTS OF OPERATIONS -- (CONTINUED)
FOR THE SIX-MONTH PERIOD ENDED APRIL 30, 2003
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
THE HARTFORD THE HARTFORD
INTERNATIONAL INTERNATIONAL
OPPORTUNITIES SMALL COMPANY
FUND FUND
------------- -------------
INVESTMENT INCOME:
Dividends................................................. $ 1,073 $ 124
Interest.................................................. 29 2
Securities lending........................................ 35 6
Less: Foreign tax withheld................................ (127) (15)
------- ------
Total investment income................................. 1,010 117
------- ------
EXPENSES:
Investment advisory fees.................................. 421 45
Transfer agent fees....................................... 176 14
Distribution fees
Class A................................................. 107 9
Class B................................................. 87 5
Class C................................................. 67 5
Class H................................................. -- --
Class L................................................. -- --
Class M................................................. -- --
Class N................................................. -- --
Custodian fees............................................ 73 34
Accounting services....................................... 10 1
Registration and filing fees.............................. 10 1
Board of Director's fees.................................. 1 @@
Other expenses............................................ 47 4
------- ------
Total expenses, (before reimbursements and waivers)..... 999 118
------- ------
Expense reimbursements.................................... (73) (38)
Class A distribution fees waived.......................... (11) (1)
------- ------
Total reimbursements.................................... (84) (39)
------- ------
Total expenses, net..................................... 915 79
------- ------
Net investment income (loss).............................. 95 38
------- ------
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS,
FUTURES CONTRACTS AND FOREIGN CURRENCY TRANSACTIONS:
Net realized gain (loss) on investments................... (8,220) 62
Net realized gain (loss) on futures contracts............. -- --
Net realized gain (loss) on foreign currency
transactions............................................ (10) 1
------- ------
NET REALIZED GAIN (LOSS) ON INVESTMENTS, FUTURES CONTRACTS
AND FOREIGN CURRENCY TRANSACTIONS......................... (8,230) 63
------- ------
NET CHANGES IN UNREALIZED APPRECIATION OR DEPRECIATION OF
INVESTMENTS, FUTURES CONTRACTS AND FOREIGN CURRENCY
TRANSACTIONS:
Net unrealized appreciation (depreciation) of
investments............................................. 7,317 1,257
Net unrealized appreciation (depreciation) of future
contracts............................................... -- --
Net unrealized appreciation (depreciation) on translation
of other assets and liabilities in foreign currencies... (1) 1
------- ------
NET CHANGES IN UNREALIZED APPRECIATION OR DEPRECIATION OF
INVESTMENTS, FUTURES CONTRACTS AND FOREIGN CURRENCY
TRANSACTIONS.............................................. 7,316 1,258
------- ------
NET GAIN (LOSS) ON INVESTMENTS, FUTURES CONTRACTS AND
FOREIGN CURRENCY TRANSACTIONS............................. (914) 1,321
------- ------
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM
OPERATIONS................................................ $ (819) $1,359
======= ======
</Table>
(a) The number includes $173 of practical waiver of distribution fees for
Classes B and C.
@@ Due to the presentation of the financial statements in thousands, the
number rounds to zero.
The accompanying notes are an integral part of these financial statements.
142
- --------------------------------------------------------------------------------
<Table>
<Caption>
THE HARTFORD THE HARTFORD
THE HARTFORD MIDCAP THE HARTFORD SHORT THE HARTFORD THE HARTFORD
MIDCAP VALUE MONEY MARKET DURATION SMALL COMPANY SMALLCAP GROWTH
FUND FUND FUND FUND FUND FUND
------------ ------------ ------------ ------------ ------------- ---------------
$ 6,072 $ 863 $ -- $ -- $ 197 $ 341
302 22 3,270 620 42 15
202 9 -- -- 39 112
(31) (6) -- -- -- --
-------- ------- ------ ---- ------- --------
6,545 888 3,270 620 278 468
-------- ------- ------ ---- ------- --------
5,326 668 1,110 76 750 603
2,290 275 806 36 311 12
1,286 161 486 20 152 8
1,398 137 479 19 195 10
1,464 165 269 51 182 8
-- -- -- -- -- 80
-- -- -- -- -- 188
-- -- -- -- -- 67
-- -- -- -- -- 23
16 27 4 1 24 9
138 16 44 3 18 1
83 14 22 2 19 30
7 1 2 @@ 1 1
464 49 140 12 72 40
-------- ------- ------ ---- ------- --------
12,472 1,513 3,362 220 1,724 1,080
-------- ------- ------ ---- ------- --------
(308) (146) (751)(a) (40) (189) (45)
(126) (16) (49) -- (15) (1)
-------- ------- ------ ---- ------- --------
(434) (162) (800) (40) (204) (46)
-------- ------- ------ ---- ------- --------
12,038 1,351 2,562 180 1,520 1,034
-------- ------- ------ ---- ------- --------
(5,493) (463) 708 440 (1,242) (566)
-------- ------- ------ ---- ------- --------
(44,593) (7,303) 7 (34) (5,959) (12,561)
-- -- -- -- -- (75)
4 -- -- -- (1) --
-------- ------- ------ ---- ------- --------
(44,589) (7,303) 7 (34) (5,960) (12,636)
-------- ------- ------ ---- ------- --------
170,264 18,412 -- 508 16,155 18,606
-- -- -- -- -- 129
3 -- -- -- 1 --
-------- ------- ------ ---- ------- --------
170,267 18,412 -- 508 16,156 18,735
-------- ------- ------ ---- ------- --------
125,678 11,109 -- 474 10,196 6,099
-------- ------- ------ ---- ------- --------
$120,185 $10,646 $ 715 $914 $ 8,954 $ 5,533
======== ======= ====== ==== ======= ========
</Table>
143
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
STATEMENTS OF OPERATIONS -- (CONTINUED)
FOR THE SIX-MONTH PERIOD ENDED APRIL 30, 2003
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
THE HARTFORD
THE HARTFORD TAX-FREE
STOCK CALIFORNIA
FUND FUND
------------ ------------
INVESTMENT INCOME:
Dividends................................................. $ 14,115 $ --
Interest.................................................. 164 241
Securities lending........................................ 1 --
Less: Foreign tax withheld................................ -- --
--------- ----
Total investment income (loss), net..................... 14,280 241
--------- ----
EXPENSES:
Investment advisory fees.................................. 5,461 30
Transfer agent fees....................................... 2,700 20
Distribution fees
Class A................................................. 1,431 13
Class B................................................. 1,696 6
Class C................................................. 1,485 5
Class H................................................. -- --
Class L................................................. -- --
Class M................................................. -- --
Class N................................................. -- --
Custodian fees............................................ 14 1
Accounting services....................................... 153 1
Registration and filing fees.............................. 132 5
Board of Director's fees.................................. 10 @@
Other expenses............................................ 507 11
--------- ----
Total expenses, (before reimbursements and waivers)..... 13,589 92
--------- ----
Expense reimbursements.................................... (190) (31)
Class A distribution fees waived.......................... (145) --
--------- ----
Total reimbursements.................................... (335) (31)
--------- ----
Total expenses, net..................................... 13,254 61
--------- ----
Net investment income (loss).............................. 1,026 180
--------- ----
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS,
FUTURES CONTRACTS AND FOREIGN CURRENCY TRANSACTIONS:
Net realized gain (loss) on investments................... (135,337) (28)
Net realized gain (loss) on futures contracts............. -- --
Net realized gain (loss) on foreign currency
transactions............................................ -- --
--------- ----
NET REALIZED GAIN (LOSS) ON INVESTMENTS, FUTURES CONTRACTS
AND FOREIGN CURRENCY TRANSACTIONS......................... (135,337) (28)
--------- ----
NET CHANGES IN UNREALIZED APPRECIATION OR DEPRECIATION OF
INVESTMENTS, FUTURES CONTRACTS AND FOREIGN CURRENCY
TRANSACTIONS:
Net unrealized appreciation (depreciation) of
investments............................................. 181,370 208
Net unrealized appreciation (depreciation) of future
contracts............................................... -- --
Net unrealized appreciation (depreciation) on translation
of other assets and liabilities in foreign currencies... -- --
--------- ----
NET CHANGES IN UNREALIZED APPRECIATION OR DEPRECIATION OF
INVESTMENTS, FUTURES CONTRACTS AND FOREIGN CURRENCY
TRANSACTIONS.............................................. 181,370 208
--------- ----
NET GAIN (LOSS) ON INVESTMENTS, FUTURES CONTRACTS AND
FOREIGN CURRENCY TRANSACTIONS............................. 46,033 180
--------- ----
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM
OPERATIONS................................................ $ 47,059 $360
========= ====
</Table>
@@ Due to the presentation of the financial statements in thousands, the number
rounds to zero.
The accompanying notes are an integral part of these financial statements.
144
- --------------------------------------------------------------------------------
<Table>
<Caption>
THE HARTFORD THE HARTFORD THE HARTFORD THE HARTFORD THE HARTFORD THE HARTFORD
TAX-FREE TAX-FREE TAX-FREE TOTAL RETURN U.S. GOVERNMENT THE HARTFORD VALUE
MINNESOTA NATIONAL NEW YORK BOND SECURITIES VALUE OPPORTUNITIES
FUND FUND FUND FUND FUND FUND FUND
------------ ------------ ------------ ------------ --------------- ------------ -------------
$ -- $ -- $ -- $ 18 $ -- $ 563 $ 234
903 1,712 205 12,999 10,636 3 2
-- -- -- 116 40 -- 2
-- -- -- -- -- -- (4)
------ ------ ---- ------- ------- ------- -------
903 1,712 205 13,133 10,676 566 234
------ ------ ---- ------- ------- ------- -------
139 279 28 1,624 1,392 177 181
5 33 18 759 251 78 6
4 23 12 396 138 50 4
2 23 5 523 230 26 3
2 23 6 569 219 45 3
2 14 -- -- 44 -- 27
4 9 -- -- 60 -- 24
3 7 -- -- 32 -- 32
1 3 -- -- 8 -- 8
1 2 1 11 4 11 6
@@ 2 1 50 17 4 @@
5 23 3 32 64 4 30
@@ @@ @@ 3 2 @@ @@
7 13 13 111 48 15 10
------ ------ ---- ------- ------- ------- -------
175 454 87 4,078 2,509 410 334
------ ------ ---- ------- ------- ------- -------
(4) (39) (31) (237) (156) (35) (20)
-- (2) -- (38) (13) (5) @@
------ ------ ---- ------- ------- ------- -------
(4) (41) (31) (275) (169) (40) (20)
------ ------ ---- ------- ------- ------- -------
171 413 56 3,803 2,340 370 314
------ ------ ---- ------- ------- ------- -------
732 1,299 149 9,330 8,336 196 (80)
------ ------ ---- ------- ------- ------- -------
72 496 54 12,496 2,925 (2,917) (1,485)
-- -- -- -- -- -- --
-- -- -- 3,248 -- -- --
------ ------ ---- ------- ------- ------- -------
72 496 54 15,744 2,925 (2,917) (1,485)
------ ------ ---- ------- ------- ------- -------
412 811 199 9,324 1,837 3,860 4,019
-- -- -- -- -- -- --
-- -- -- 675 -- -- --
------ ------ ---- ------- ------- ------- -------
412 811 199 9,999 1,837 3,860 4,019
------ ------ ---- ------- ------- ------- -------
484 1,307 253 25,743 4,762 943 2,534
------ ------ ---- ------- ------- ------- -------
$1,216 $2,606 $402 $35,073 $13,098 $ 1,139 $ 2,454
====== ====== ==== ======= ======= ======= =======
</Table>
145
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUND II, INC.
STATEMENT OF CHANGES IN NET ASSETS
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
ADVISERS FUND
------------------------------------------
FOR THE SIX-MONTH FOR THE YEAR
PERIOD ENDED ENDED
APRIL 30, 2003 OCTOBER 31, 2002
----------------- ----------------
OPERATIONS:
Net investment income (loss).............................. $ 15,786 $ 30,190
Net realized gain (loss) on investments................... (78,757) (185,895)
Net unrealized appreciation (depreciation) of
investments............................................. 143,662 (138,097)
---------- ----------
Net increase (decrease) in net assets resulting from
operations.............................................. 80,691 (293,802)
---------- ----------
DISTRIBUTIONS TO SHAREHOLDERS:
From net investment income
Class A................................................. (10,030) (20,818)
Class B................................................. (2,537) (5,930)
Class C................................................. (2,029) (4,835)
Class E................................................. -- --
Class H................................................. -- --
Class L................................................. -- --
Class M................................................. -- --
Class N................................................. -- --
Class Y................................................. (51) (377)
Class Z................................................. -- --
From net realized gain on investments
Class A................................................. -- --
Class B................................................. -- --
Class C................................................. -- --
Class E................................................. -- --
Class H................................................. -- --
Class L................................................. -- --
Class M................................................. -- --
Class N................................................. -- --
Class Y................................................. -- --
Class Z................................................. -- --
---------- ----------
Total distributions..................................... (14,647) (31,960)
---------- ----------
CAPITAL SHARE TRANSACTIONS:
Class A................................................. 25,064 183,664
Class B................................................. (27,890) (25,825)
Class C................................................. (27,672) (1,961)
Class E................................................. -- --
Class H................................................. -- --
Class L................................................. -- --
Class M................................................. -- --
Class N................................................. -- --
Class Y................................................. 1,805 (54,198)
Class Z................................................. -- --
Issuance of shares in connection with fund merger (Note
10)
Class A................................................. -- 149,372
Class B................................................. -- 58,085
Class C................................................. -- 10,535
---------- ----------
Net increase (decrease) from capital share transactions... (28,693) 319,672
---------- ----------
Net increase (decrease) in net assets..................... 37,351 (6,090)
NET ASSETS:
Beginning of period....................................... 2,239,801 2,245,891
---------- ----------
End of period............................................. $2,277,152 $2,239,801
========== ==========
Accumulated undistributed (distribution in excess of) net
investment income......................................... $ 2,305 $ 1,166
========== ==========
</Table>
The accompanying notes are an integral part of these financial statements.
146
- --------------------------------------------------------------------------------
<Table>
<Caption>
CAPITAL APPRECIATION FUND DIVIDEND AND GROWTH FUND FOCUS FUND
------------------------------------ ------------------------------------ ------------------------------------
FOR THE SIX-MONTH FOR THE YEAR FOR THE SIX-MONTH FOR THE YEAR FOR THE SIX-MONTH FOR THE YEAR
PERIOD ENDED ENDED PERIOD ENDED ENDED PERIOD ENDED ENDED
APRIL 30, 2003 OCTOBER 31, 2002 APRIL 30, 2003 OCTOBER 31, 2002 APRIL 30, 2003 OCTOBER 31, 2002
----------------- ---------------- ----------------- ---------------- ----------------- ----------------
$ (6,721) $ (22,852) $ 5,411 $ 6,236 $ (215) $ (1,063)
(234,615) (611,050) (49,005) (10,830) (14,285) (15,707)
339,988 (63,577) 86,863 (155,094) 19,004 (12,682)
---------- ---------- ---------- ---------- -------- --------
98,652 (697,479) 43,269 (159,688) 4,504 (29,452)
---------- ---------- ---------- ---------- -------- --------
-- -- (3,753) (5,490) -- --
-- -- (234) (223) -- --
-- -- (247) (247) -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- (131) (216) -- --
-- -- -- -- -- --
-- -- -- (8,340) -- --
-- -- -- (2,411) -- --
-- -- -- (1,890) -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- (412) -- --
-- -- -- -- -- --
---------- ---------- ---------- ---------- -------- --------
-- -- (4,365) (19,229) -- --
---------- ---------- ---------- ---------- -------- --------
(6,902) 464,355 139,887 410,049 (5,855) 16,800
(16,043) 196,362 13,953 64,289 (945) 5,397
(11,307) 235,783 15,670 73,195 (2,802) 8,635
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
6,166 (54,635) 8,841 (10,771) 100 625
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
---------- ---------- ---------- ---------- -------- --------
(28,086) 841,865 178,351 536,762 (9,502) 31,457
---------- ---------- ---------- ---------- -------- --------
70,566 144,386 217,255 357,845 (4,998) 2,005
3,349,684 3,205,298 1,173,414 815,569 111,650 109,645
---------- ---------- ---------- ---------- -------- --------
$3,420,250 $3,349,684 $1,390,669 $1,173,414 $106,652 $111,650
========== ========== ========== ========== ======== ========
$ (8,077) $ 897 $ 1,055 $ 9 $ (215) $ --
========== ========== ========== ========== ======== ========
</Table>
147
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUND II, INC.
STATEMENT OF CHANGES IN NET ASSETS -- (CONTINUED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
GLOBAL COMMUNICATIONS FUND
------------------------------------------
FOR THE SIX-MONTH FOR THE YEAR
PERIOD ENDED ENDED
APRIL 30, 2003 OCTOBER 31, 2002
----------------- ----------------
OPERATIONS:
Net investment income (loss).............................. $ (4) $ (15)
Net realized gain (loss) on investments................... (956) (3,536)
Net unrealized appreciation (depreciation) of
investments............................................. 1,563 1,451
------ -------
Net increase (decrease) in net assets resulting from
operations.............................................. 603 (2,100)
------ -------
DISTRIBUTIONS TO SHAREHOLDERS:
From net investment income
Class A................................................. -- --
Class B................................................. -- --
Class C................................................. -- --
Class E................................................. -- --
Class H................................................. -- --
Class L................................................. -- --
Class M................................................. -- --
Class N................................................. -- --
Class Y................................................. -- --
Class Z................................................. -- --
From net realized gain on investments
Class A................................................. -- --
Class B................................................. -- --
Class C................................................. -- --
Class E................................................. -- --
Class H................................................. -- --
Class L................................................. -- --
Class M................................................. -- --
Class N................................................. -- --
Class Y................................................. -- --
Class Z................................................. -- --
------ -------
Total distributions..................................... -- --
------ -------
CAPITAL SHARE TRANSACTIONS:
Class A................................................. 386 786
Class B................................................. 24 312
Class C................................................. 47 190
Class E................................................. -- --
Class H................................................. -- --
Class L................................................. -- --
Class M................................................. -- --
Class N................................................. -- --
Class Y................................................. 22 164
Class Z................................................. -- --
Issuance of shares in connection with fund merger (Note
10)
Class A................................................. -- --
Class B................................................. -- --
Class C................................................. -- --
------ -------
Net increase (decrease) from capital share transactions... 479 1,452
------ -------
Net increase (decrease) in net assets..................... 1,082 (648)
NET ASSETS:
Beginning of period....................................... 5,569 6,217
------ -------
End of period............................................. $6,651 $ 5,569
====== =======
Accumulated undistributed (distribution in excess of) net
investment income......................................... $ (4) $ --
====== =======
</Table>
The accompanying notes are an integral part of these financial statements.
148
- --------------------------------------------------------------------------------
<Table>
<Caption>
GLOBAL FINANCIAL SERVICES FUND GLOBAL HEALTH FUND GLOBAL LEADERS FUND
------------------------------------ ------------------------------------ ------------------------------------
FOR THE SIX-MONTH FOR THE YEAR FOR THE SIX-MONTH FOR THE YEAR FOR THE SIX-MONTH FOR THE YEAR
PERIOD ENDED ENDED PERIOD ENDED ENDED PERIOD ENDED ENDED
APRIL 30, 2003 OCTOBER 31, 2002 APRIL 30, 2003 OCTOBER 31, 2002 APRIL 30, 2003 OCTOBER 31, 2002
----------------- ---------------- ----------------- ---------------- ----------------- ----------------
$ 58 $ 55 $ (628) $ (2,203) $ (589) $ 45
(493) (1,557) (928) 5,178 (11,376) (84,577)
679 (1,487) 12,400 (39,989) 29,956 19,055
------- ------- -------- -------- -------- --------
244 (2,989) 10,844 (37,014) 17,991 (65,477)
------- ------- -------- -------- -------- --------
(45) -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
(13) -- -- -- -- --
-- -- -- -- -- --
-- -- (2,668) (2,088) -- --
-- -- (1,215) (898) -- --
-- -- (1,151) (945) -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- (23) (92) -- --
-- -- -- -- -- --
------- ------- -------- -------- -------- --------
(58) -- (5,057) (4,023) -- --
------- ------- -------- -------- -------- --------
14 1,494 (4,162) 24,768 (4,445) 65,748
14 1,225 (599) 12,754 (4,214) (5,497)
(80) 1,001 (2,031) 8,274 (7,505) (19,349)
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
(59) 754 16 (3,491) 5,131 (1,951)
-- -- -- -- -- --
-- -- -- -- -- 81,253
-- -- -- -- -- 26,325
-- -- -- -- -- 3,427
------- ------- -------- -------- -------- --------
(111) 4,474 (6,776) 42,305 (11,033) 149,956
------- ------- -------- -------- -------- --------
75 1,485 (989) 1,268 6,958 84,479
16,477 14,992 191,463 190,195 506,028 421,549
------- ------- -------- -------- -------- --------
$16,552 $16,477 $190,474 $191,463 $512,986 $506,028
======= ======= ======== ======== ======== ========
$ 58 $ 58 $ (623) $ -- $ (554) $ --
======= ======= ======== ======== ======== ========
</Table>
149
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUND II, INC.
STATEMENT OF CHANGES IN NET ASSETS -- (CONTINUED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
GLOBAL TECHNOLOGY FUND
------------------------------------------
FOR THE SIX-MONTH FOR THE YEAR
PERIOD ENDED ENDED
APRIL 30, 2003 OCTOBER 31, 2002
----------------- ----------------
OPERATIONS:
Net investment income (loss).............................. $ (285) $ (931)
Net realized gain (loss) on investments................... 71 (27,264)
Net unrealized appreciation (depreciation) of
investments............................................. 4,765 14,476
------- --------
Net increase (decrease) in net assets resulting from
operations.............................................. 4,551 (13,719)
------- --------
DISTRIBUTIONS TO SHAREHOLDERS:
From net investment income
Class A................................................. -- --
Class B................................................. -- --
Class C................................................. -- --
Class E................................................. -- --
Class H................................................. -- --
Class L................................................. -- --
Class M................................................. -- --
Class N................................................. -- --
Class Y................................................. -- --
Class Z................................................. -- --
From net realized gain on investments
Class A................................................. -- --
Class B................................................. -- --
Class C................................................. -- --
Class E................................................. -- --
Class H................................................. -- --
Class L................................................. -- --
Class M................................................. -- --
Class N................................................. -- --
Class Y................................................. -- --
Class Z................................................. -- --
------- --------
Total distributions..................................... -- --
------- --------
CAPITAL SHARE TRANSACTIONS:
Class A................................................. 911 948
Class B................................................. (136) 398
Class C................................................. (667) (1,969)
Class E................................................. -- --
Class H................................................. -- --
Class L................................................. -- --
Class M................................................. -- --
Class N................................................. -- --
Class Y................................................. 34 (5,064)
Class Z................................................. -- --
Issuance of shares in connection with fund merger (Note
10)
Class A................................................. -- --
Class B................................................. -- --
Class C................................................. -- --
------- --------
Net increase (decrease) from capital share transactions... 142 (5,687)
------- --------
Net increase (decrease) in net assets..................... 4,693 (19,406)
NET ASSETS:
Beginning of period....................................... 36,563 55,969
------- --------
End of period............................................. $41,256 $ 36,563
======= ========
Accumulated undistributed (distribution in excess of) net
investment income......................................... $ (285) $ --
======= ========
</Table>
The accompanying notes are an integral part of these financial statements.
150
- --------------------------------------------------------------------------------
<Table>
<Caption>
GROWTH AND INCOME FUND GROWTH FUND GROWTH OPPORTUNITIES FUND
------------------------------------ ------------------------------------ ------------------------------------
FOR THE SIX-MONTH FOR THE YEAR FOR THE SIX-MONTH FOR THE YEAR FOR THE SIX-MONTH FOR THE YEAR
PERIOD ENDED ENDED PERIOD ENDED ENDED PERIOD ENDED ENDED
APRIL 30, 2003 OCTOBER 31, 2002 APRIL 30, 2003 OCTOBER 31, 2002 APRIL 30, 2003 OCTOBER 31, 2002
----------------- ---------------- ----------------- ---------------- ----------------- ----------------
$ 24 $ (1,067) $ (680) $ (1,674) $ (1,634) $ (5,097)
(32,445) (67,844) (14,911) (82,179) 7,941 (131,326)
38,526 (11,848) 38,030 13,761 44,953 17,612
-------- -------- -------- --------- -------- ---------
6,105 (80,759) 22,439 (70,092) 51,260 (118,811)
-------- -------- -------- --------- -------- ---------
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- (13) -- (654)
-- -- -- (122) -- (6,438)
-- -- -- (10) -- (326)
-- -- -- (2) -- (73)
-- -- -- -- -- --
-- -- -- -- -- (1,001)
-------- -------- -------- --------- -------- ---------
-- -- -- (147) -- (8,492)
-------- -------- -------- --------- -------- ---------
(21,612) 27,213 6,699 6,608 1,470 4,143
(2,551) (635) 1,549 1,826 488 972
(4,286) (6,177) 1,596 1,609 153 1,016
-- -- -- -- -- --
-- -- (2,619) (5,746) (3,499) (4,533)
-- -- (17,290) (53,347) (26,993) (72,239)
-- -- (1,969) (1,925) (1,450) (1,207)
-- -- (314) (1,527) (526) (840)
93 364 -- 1 -- 1
-- -- -- -- (979) (68,131)
-- 20,626 -- -- -- --
-- 12,446 -- -- -- --
-- 1,856 -- -- -- --
-------- -------- -------- --------- -------- ---------
(28,356) 55,693 (12,348) (52,501) (31,336) (140,818)
-------- -------- -------- --------- -------- ---------
(22,251) (25,066) 10,091 (122,740) 19,924 (268,121)
318,691 343,757 335,652 458,392 507,790 775,911
-------- -------- -------- --------- -------- ---------
$296,440 $318,691 $345,743 $ 335,652 $527,714 $ 507,790
======== ======== ======== ========= ======== =========
$ 24 $ -- $ (680) $ -- $ (1,634) $ (6)
======== ======== ======== ========= ======== =========
</Table>
151
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUND II, INC.
STATEMENT OF CHANGES IN NET ASSETS -- (CONTINUED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
HIGH YIELD FUND
------------------------------------------
FOR THE SIX-MONTH FOR THE YEAR
PERIOD ENDED ENDED
APRIL 30, 2003 OCTOBER 31, 2002
----------------- ----------------
OPERATIONS:
Net investment income (loss).............................. $ 10,041 $ 14,960
Net realized gain (loss) on investments................... (20,867) (11,937)
Net unrealized appreciation (depreciation) of
investments............................................. 51,189 (27,352)
-------- --------
Net increase (decrease) in net assets resulting from
operations.............................................. 40,363 (24,329)
-------- --------
DISTRIBUTIONS TO SHAREHOLDERS:
From net investment income
Class A................................................. (6,308) (8,394)
Class B................................................. (2,452) (3,559)
Class C................................................. (2,262) (3,513)
Class E................................................. -- --
Class H................................................. -- --
Class L................................................. -- --
Class M................................................. -- --
Class N................................................. -- --
Class Y................................................. @@ (75)
Class Z................................................. -- --
From net realized gain on investments
Class A................................................. -- --
Class B................................................. -- --
Class C................................................. -- --
Class E................................................. -- --
Class H................................................. -- --
Class L................................................. -- --
Class M................................................. -- --
Class N................................................. -- --
Class Y................................................. -- --
Class Z................................................. -- --
-------- --------
Total distributions..................................... (11,022) (15,541)
-------- --------
CAPITAL SHARE TRANSACTIONS:
Class A................................................. 48,283 29,591
Class B................................................. 11,877 5,199
Class C................................................. 14,701 19,445
Class E................................................. -- --
Class H................................................. -- --
Class L................................................. -- --
Class M................................................. -- --
Class N................................................. -- --
Class Y................................................. @@ (4,252)
Class Z................................................. -- --
Issuance of shares in connection with fund merger (Note
10)
Class A................................................. -- 41,430
Class B................................................. -- 31,948
Class C................................................. -- 2,737
-------- --------
Net increase (decrease) from capital share transactions... 74,861 126,098
-------- --------
Net increase (decrease) in net assets..................... 104,202 86,228
NET ASSETS:
Beginning of period....................................... 180,731 94,503
-------- --------
End of period............................................. $284,933 $180,731
======== ========
Accumulated undistributed (distribution in excess of) net
investment income......................................... $ (865) $ (304)
======== ========
</Table>
@@ Due to the presentation of the financial statements in thousands, the number
rounds to zero.
The accompanying notes are an integral part of these financial statements.
152
- --------------------------------------------------------------------------------
<Table>
<Caption>
INCOME FUND INFLATION PLUS FUND INTERNATIONAL CAPITAL APPRECIATION FUND
------------------------------------ ------------------------------------ ----------------------------------------
FOR THE SIX-MONTH FOR THE ONE-DAY FOR THE SIX-MONTH FOR THE ONE-DAY FOR THE SIX-MONTH FOR THE YEAR
PERIOD ENDED PERIOD ENDED PERIOD ENDED PERIOD ENDED PERIOD ENDED ENDED
APRIL 30, 2003 OCTOBER 31, 2002 APRIL 30, 2003 OCTOBER 31, 2002 APRIL 30, 2003 OCTOBER 31, 2002
----------------- ---------------- ----------------- ---------------- ------------------- ------------------
$ 343 $ -- $ 1,759 $ -- $ (15) $ 11
(55) -- 171 -- 112 (1,123)
727 -- (119) -- 394 335
------- ------- -------- ------- ------ ------
1,015 -- 1,811 -- 491 (777)
------- ------- -------- ------- ------ ------
(256) -- (708) -- (5) --
(42) -- (266) -- -- --
(42) -- (598) -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- (1) --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
------- ------- -------- ------- ------ ------
(340) -- (1,572) -- (6) --
------- ------- -------- ------- ------ ------
3,026 8,000 69,037 8,002 444 2,614
1,672 1,000 38,086 1,000 132 621
2,279 1,000 81,925 1,000 274 605
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
------- ------- -------- ------- ------ ------
6,977 10,000 189,048 10,002 851 3,840
------- ------- -------- ------- ------ ------
7,652 10,000 189,287 10,002 1,336 3,063
10,000 -- 10,002 -- 6,514 3,451
------- ------- -------- ------- ------ ------
$17,652 $10,000 $199,289 $10,002 $7,850 $6,514
======= ======= ======== ======= ====== ======
$ 8 $ -- $ 187 $ -- $ (16) $ 6
======= ======= ======== ======= ====== ======
</Table>
153
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUND II, INC.
STATEMENT OF CHANGES IN NET ASSETS -- (CONTINUED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
INTERNATIONAL OPPORTUNITIES FUND
------------------------------------
FOR THE SIX-MONTH FOR THE YEAR
PERIOD ENDED ENDED
APRIL 30, 2003 OCTOBER 31, 2002
----------------- ----------------
OPERATIONS:
Net investment income (loss).............................. $ 95 $ 15
Net realized gain (loss) on investments................... (8,230) (18,376)
Net unrealized appreciation (depreciation) of
investments............................................. 7,316 8,201
-------- --------
Net increase (decrease) in net assets resulting from
operations.............................................. (819) (10,160)
-------- --------
DISTRIBUTIONS TO SHAREHOLDERS:
From net investment income
Class A................................................. -- --
Class B................................................. -- --
Class C................................................. -- --
Class E................................................. -- --
Class H................................................. -- --
Class L................................................. -- --
Class M................................................. -- --
Class N................................................. -- --
Class Y................................................. -- --
Class Z................................................. -- --
From net realized gain on investments
Class A................................................. -- --
Class B................................................. -- --
Class C................................................. -- --
Class E................................................. -- --
Class H................................................. -- --
Class L................................................. -- --
Class M................................................. -- --
Class N................................................. -- --
Class Y................................................. -- --
Class Z................................................. -- --
-------- --------
Total distributions..................................... -- --
-------- --------
CAPITAL SHARE TRANSACTIONS:
Class A................................................. (4,008) (12,728)
Class B................................................. (930) (2,578)
Class C................................................. (543) (4,144)
Class E................................................. -- --
Class H................................................. -- --
Class L................................................. -- --
Class M................................................. -- --
Class N................................................. -- --
Class Y................................................. 316 (12,860)
Class Z................................................. -- --
Issuance of shares in connection with fund merger (Note
10)
Class A................................................. -- 12,538
Class B................................................. -- 5,906
Class C................................................. -- 711
-------- --------
Net increase (decrease) from capital share transactions... (5,165) (13,155)
-------- --------
Net increase (decrease) in net assets..................... (5,984) (23,315)
NET ASSETS:
Beginning of period....................................... 103,424 126,739
-------- --------
End of period............................................. $ 97,440 $103,424
======== ========
Accumulated undistributed (distribution in excess of) net
investment income......................................... $ 85 $ --
======== ========
</Table>
The accompanying notes are an integral part of these financial statements.
154
- --------------------------------------------------------------------------------
<Table>
<Caption>
INTERNATIONAL SMALL COMPANY FUND MIDCAP FUND MIDCAP VALUE FUND
------------------------------------ ------------------------------------ ------------------------------------
FOR THE SIX-MONTH FOR THE YEAR FOR THE SIX-MONTH FOR THE YEAR FOR THE SIX-MONTH FOR THE YEAR
PERIOD ENDED ENDED PERIOD ENDED ENDED PERIOD ENDED ENDED
APRIL 30, 2003 OCTOBER 31, 2002 APRIL 30, 2003 OCTOBER 31, 2002 APRIL 30, 2003 OCTOBER 31, 2002
----------------- ---------------- ----------------- ---------------- ----------------- ----------------
$ 38 $ 19 $ (5,493) $ (12,183) $ (463) $ (625)
63 (483) (44,589) (34,442) (7,303) (1,808)
1,258 (323) 170,267 (43,737) 18,412 (22,577)
------- ------ ---------- ---------- -------- --------
1,359 (787) 120,185 (90,362) 10,646 (25,010)
------- ------ ---------- ---------- -------- --------
(10) -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
(7) -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
------- ------ ---------- ---------- -------- --------
(17) -- -- -- -- --
------- ------ ---------- ---------- -------- --------
1,321 2,951 115,591 141,807 2,601 83,020
109 774 18,038 22,055 778 23,725
190 527 24,825 10,259 610 28,679
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
530 766 20,429 (27,164) -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
------- ------ ---------- ---------- -------- --------
2,150 5,018 178,883 146,957 3,989 135,424
------- ------ ---------- ---------- -------- --------
3,492 4,231 299,068 56,595 14,635 110,414
7,352 3,121 1,273,512 1,216,917 153,614 43,200
------- ------ ---------- ---------- -------- --------
$10,844 $7,352 $1,572,580 $1,273,512 $168,249 $153,614
======= ====== ========== ========== ======== ========
$ 39 $ 18 $ (5,489) $ -- $ (463) $ --
======= ====== ========== ========== ======== ========
</Table>
155
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUND II, INC.
STATEMENT OF CHANGES IN NET ASSETS -- (CONTINUED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MONEY MARKET FUND
------------------------------------------
FOR THE SIX-MONTH FOR THE YEAR
PERIOD ENDED ENDED
APRIL 30, 2003 OCTOBER 31, 2002
----------------- ----------------
OPERATIONS:
Net investment income (loss).............................. $ 708 $ 2,942
Net realized gain (loss) on investments................... 7 --
Net unrealized appreciation (depreciation) of
investments............................................. -- --
-------- --------
Net increase (decrease) in net assets resulting from
operations.............................................. 715 2,942
-------- --------
DISTRIBUTIONS TO SHAREHOLDERS:
From net investment income
Class A................................................. (687) (2,373)
Class B................................................. (5) (225)
Class C................................................. (3) (217)
Class E................................................. -- --
Class H................................................. -- --
Class L................................................. -- --
Class M................................................. -- --
Class N................................................. -- --
Class Y................................................. (13) (127)
Class Z................................................. -- --
From net realized gain on investments
Class A................................................. -- --
Class B................................................. -- --
Class C................................................. -- --
Class E................................................. -- --
Class H................................................. -- --
Class L................................................. -- --
Class M................................................. -- --
Class N................................................. -- --
Class Y................................................. -- --
Class Z................................................. -- --
-------- --------
Total distributions..................................... (715) (2,942)
-------- --------
CAPITAL SHARE TRANSACTIONS:
Class A................................................. (17,957) 22,036
Class B................................................. (4,383) 44,803
Class C................................................. (21,026) 11,397
Class E................................................. -- --
Class H................................................. -- --
Class L................................................. -- --
Class M................................................. -- --
Class N................................................. -- --
Class Y................................................. (1,118) (30,494)
Class Z................................................. -- --
Issuance of shares in connection with fund merger (Note
10)
Class A................................................. -- 194,078
Class B................................................. -- 5,247
Class C................................................. -- 624
-------- --------
Net increase (decrease) from capital share transactions... (44,484) 247,691
-------- --------
Net increase (decrease) in net assets..................... (44,484) 247,691
NET ASSETS:
Beginning of period....................................... 470,619 222,928
-------- --------
End of period............................................. $426,135 $470,619
======== ========
Accumulated undistributed (distribution in excess of) net
investment income......................................... $ -- $ --
======== ========
</Table>
The accompanying notes are an integral part of these financial statements.
156
- --------------------------------------------------------------------------------
<Table>
<Caption>
SHORT DURATION FUND SMALL COMPANY FUND SMALLCAP GROWTH FUND
------------------------------------ ------------------------------------ ------------------------------------
FOR THE SIX-MONTH FOR THE ONE-DAY FOR THE SIX-MONTH FOR THE YEAR FOR THE SIX-MONTH FOR THE YEAR
PERIOD ENDED PERIOD ENDED PERIOD ENDED ENDED PERIOD ENDED ENDED
APRIL 30, 2003 OCTOBER 31, 2002 APRIL 30, 2003 OCTOBER 31, 2002 APRIL 30, 2003 OCTOBER 31, 2002
----------------- ---------------- ----------------- ---------------- ----------------- ----------------
$ 440 $ -- $ (1,242) $ (3,038) $ (566) $ (2,034)
(34) -- (5,960) (28,649) (12,636) (6,787)
508 -- 16,156 (9,099) 18,735 (17,373)
------- ------- -------- -------- -------- --------
914 -- 8,954 (40,786) 5,533 (26,194)
------- ------- -------- -------- -------- --------
(226) -- -- -- -- --
(55) -- -- -- -- --
(149) -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- (418)
-- -- -- -- -- (2,073)
-- -- -- -- -- (335)
-- -- -- -- -- (118)
-- -- -- -- -- --
-- -- -- -- -- --
------- ------- -------- -------- -------- --------
(430) -- -- -- -- (2,944)
------- ------- -------- -------- -------- --------
13,389 8,002 (3,812) 1,791 2,489 4,351
6,394 1,000 (2,145) 1,843 583 2,107
19,308 1,000 (2,800) (2,682) 556 1,754
-- -- -- -- -- --
-- -- -- -- (1,486) (2,423)
-- -- -- -- (5,534) (15,851)
-- -- -- -- (704) (1,079)
-- -- -- -- (494) (626)
-- -- (1,383) (23,496) -- 1
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
------- ------- -------- -------- -------- --------
39,091 10,002 (10,140) (22,544) (4,590) (11,766)
------- ------- -------- -------- -------- --------
39,575 10,002 (1,186) (63,330) 943 (40,904)
10,002 -- 187,513 250,843 128,206 169,110
------- ------- -------- -------- -------- --------
$49,577 $10,002 $186,327 $187,513 $129,149 $128,206
======= ======= ======== ======== ======== ========
$ 10 $ -- $ (1,243) $ -- $ (566) $ --
======= ======= ======== ======== ======== ========
</Table>
157
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUND II, INC.
STATEMENT OF CHANGES IN NET ASSETS -- (CONTINUED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
STOCK FUND
------------------------------------------
FOR THE SIX-MONTH FOR THE YEAR
PERIOD ENDED ENDED
APRIL 30, 2003 OCTOBER 31, 2002
----------------- ----------------
OPERATIONS:
Net investment income (loss).............................. $ 1,026 $ (5,809)
Net realized gain (loss) on investments................... (135,337) (250,183)
Net unrealized appreciation (depreciation) of
investments............................................. 181,370 (152,541)
---------- ----------
Net increase (decrease) in net assets resulting from
operations.............................................. 47,059 (408,533)
---------- ----------
DISTRIBUTIONS TO SHAREHOLDERS:
From net investment income
Class A................................................. -- --
Class B................................................. -- --
Class C................................................. -- --
Class E................................................. -- --
Class H................................................. -- --
Class L................................................. -- --
Class M................................................. -- --
Class N................................................. -- --
Class Y................................................. -- --
Class Z................................................. -- --
From net realized gain on investments
Class A................................................. -- --
Class B................................................. -- --
Class C................................................. -- --
Class E................................................. -- --
Class H................................................. -- --
Class L................................................. -- --
Class M................................................. -- --
Class N................................................. -- --
Class Y................................................. -- --
Class Z................................................. -- --
---------- ----------
Total distributions..................................... -- --
---------- ----------
CAPITAL SHARE TRANSACTIONS:
Class A................................................. (35,285) 72,759
Class B................................................. (20,186) (24,517)
Class C................................................. (26,932) (32,747)
Class E................................................. -- --
Class H................................................. -- --
Class L................................................. -- --
Class M................................................. -- --
Class N................................................. -- --
Class Y................................................. (3,823) 13,254
Class Z................................................. -- --
Issuance of shares in connection with fund merger (Note
10)
Class A................................................. -- --
Class B................................................. -- --
Class C................................................. -- --
---------- ----------
Net increase (decrease) from capital share transactions... (86,226) 28,749
---------- ----------
Net increase (decrease) in net assets..................... (39,167) (379,784)
NET ASSETS:
Beginning of period....................................... 1,579,042 1,958,826
---------- ----------
End of period............................................. $1,539,875 $1,579,042
========== ==========
Accumulated undistributed (distribution in excess of) net
investment income......................................... $ 1,026 $ --
========== ==========
</Table>
The accompanying notes are an integral part of these financial statements.
158
- --------------------------------------------------------------------------------
<Table>
<Caption>
TAX-FREE CALIFORNIA TAX-FREE MINNESOTA FUND TAX-FREE NATIONAL FUND
------------------------------------ ------------------------------------ ------------------------------------
FOR THE SIX-MONTH FOR THE ONE-DAY FOR THE SIX-MONTH FOR THE YEAR FOR THE SIX-MONTH FOR THE YEAR
PERIOD ENDED PERIOD ENDED PERIOD ENDED ENDED PERIOD ENDED ENDED
APRIL 30, 2003 OCTOBER 31, 2002 APRIL 30, 2003 OCTOBER 31, 2002 APRIL 30, 2003 OCTOBER 31, 2002
----------------- ---------------- ----------------- ---------------- ----------------- ----------------
$ 180 $ -- $ 732 $ 1,386 $ 1,299 $ 2,079
(28) -- 72 687 496 1,606
208 -- 412 (490) 811 (987)
------- ------- ------- ------- ------- -------
360 -- 1,216 1,583 2,606 2,698
------- ------- ------- ------- ------- -------
(148) -- (45) (19) (266) (116)
(17) -- (7) (2) (67) (29)
(14) -- (5) (1) (70) (25)
-- -- (618) (1,167) (711) (1,450)
-- -- (6) (23) (40) (99)
-- -- (60) (118) (134) (259)
-- -- (8) (16) (22) (47)
-- -- (3) (6) (9) (17)
-- -- -- -- -- --
-- -- -- -- -- --
-- -- (11) -- (282) --
-- -- (1) -- (85) --
-- -- (1) -- (72) --
-- -- (159) -- (886) (167)
-- -- (2) -- (65) (18)
-- -- (17) -- (166) (32)
-- -- (3) -- (35) (7)
-- -- (1) -- (13) (2)
-- -- -- -- -- --
-- -- -- -- -- --
------- ------- ------- ------- ------- -------
(179) -- (947) (1,352) (2,923) (2,268)
------- ------- ------- ------- ------- -------
1,722 8,000 1,065 2,075 5,775 12,110
630 1,000 410 238 1,777 3,750
171 1,000 96 305 3,091 3,110
-- -- (341) (1,325) (3,000) (3,291)
-- -- (219) (517) (217) (1,768)
-- -- (411) (224) 175 (713)
-- -- (6) (212) (29) (188)
-- -- 10 (1) 13 56
-- -- -- 1 -- 1
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
------- ------- ------- ------- ------- -------
2,523 10,000 604 340 7,585 13,067
------- ------- ------- ------- ------- -------
2,704 10,000 873 571 7,268 13,497
10,000 -- 38,716 38,145 70,908 57,411
------- ------- ------- ------- ------- -------
$12,704 $10,000 $39,589 $38,716 $78,176 $70,908
======= ======= ======= ======= ======= =======
$ 1 $ -- $ 14 $ 34 $ 17 $ 37
======= ======= ======= ======= ======= =======
</Table>
159
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUND II, INC.
STATEMENT OF CHANGES IN NET ASSETS -- (CONTINUED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
TAX-FREE NEW YORK
------------------------------------------
FOR THE SIX-MONTH FOR THE ONE-DAY
PERIOD ENDED PERIOD ENDED
APRIL 30, 2003 OCTOBER 31, 2002
----------------- ----------------
OPERATIONS:
Net investment income (loss).............................. $ 149 $ --
Net realized gain (loss) on investments................... 54 --
Net unrealized appreciation (depreciation) of
investments............................................. 199 --
------- -------
Net increase (decrease) in net assets resulting from
operations.............................................. 402 --
------- -------
DISTRIBUTIONS TO SHAREHOLDERS:
From net investment income
Class A................................................. (123) --
Class B................................................. (12) --
Class C................................................. (14) --
Class E................................................. -- --
Class H................................................. -- --
Class L................................................. -- --
Class M................................................. -- --
Class N................................................. -- --
Class Y................................................. -- --
Class Z................................................. -- --
From net realized gain on investments
Class A................................................. -- --
Class B................................................. -- --
Class C................................................. -- --
Class E................................................. -- --
Class H................................................. -- --
Class L................................................. -- --
Class M................................................. -- --
Class N................................................. -- --
Class Y................................................. -- --
Class Z................................................. -- --
------- -------
Total distributions..................................... (149) --
------- -------
CAPITAL SHARE TRANSACTIONS:
Class A................................................. 173 8,000
Class B................................................. 20 1,000
Class C................................................. 268 1,000
Class E................................................. -- --
Class H................................................. -- --
Class L................................................. -- --
Class M................................................. -- --
Class N................................................. -- --
Class Y................................................. -- --
Class Z................................................. -- --
Issuance of shares in connection with fund merger (Note
10)
Class A................................................. -- --
Class B................................................. -- --
Class C................................................. -- --
------- -------
Net increase (decrease) from capital share transactions... 461 10,000
------- -------
Net increase (decrease) in net assets..................... 714 10,000
NET ASSETS:
Beginning of period....................................... 10,000 --
------- -------
End of period............................................. $10,714 $10,000
======= =======
Accumulated undistributed (distribution in excess of) net
investment income......................................... $ -- $ --
======= =======
</Table>
@@ Due to the presentation of the financial statements in thousands, the number
rounds to zero.
The accompanying notes are an integral part of these financial statements.
160
- --------------------------------------------------------------------------------
<Table>
<Caption>
TOTAL RETURN BOND FUND U.S. GOVERNMENT SECURITIES FUND VALUE FUND
------------------------------------ ------------------------------------ ------------------------------------
FOR THE SIX-MONTH FOR THE YEAR FOR THE SIX-MONTH FOR THE YEAR FOR THE SIX-MONTH FOR THE YEAR
PERIOD ENDED ENDED PERIOD ENDED ENDED PERIOD ENDED ENDED
APRIL 30, 2003 OCTOBER 31, 2002 APRIL 30, 2003 OCTOBER 31, 2002 APRIL 30, 2003 OCTOBER 31, 2002
----------------- ---------------- ----------------- ---------------- ----------------- ----------------
$ 9,330 $ 14,973 $ 8,336 $ 11,065 $ 196 $ 194
15,744 5,803 2,925 12,535 (2,917) (4,159)
9,999 (4,166) 1,837 (6,917) 3,860 (6,448)
-------- -------- -------- -------- ------- -------
35,073 16,610 13,098 16,683 1,139 (10,413)
-------- -------- -------- -------- ------- -------
(6,009) (7,842) (1,744) (660) (236) --
(2,276) (3,073) (812) (272) -- --
(2,462) (3,440) (772) (289) -- --
-- -- (3,458) (6,920) -- --
-- -- (153) (331) -- --
-- -- (1,029) (2,041) -- --
-- -- (112) (218) -- --
-- -- (29) (65) -- --
(1,238) (1,791) @@ @@ (3) --
-- -- -- -- -- --
(2,184) (732) -- -- -- (79)
(983) (343) -- -- -- (12)
(1,069) (377) -- -- -- (27)
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
(393) (263) -- -- -- (1)
-- -- -- -- -- --
-------- -------- -------- -------- ------- -------
(16,614) (17,861) (8,109) (10,796) (239) (119)
-------- -------- -------- -------- ------- -------
44,940 92,879 13,355 74,121 793 23,394
14,611 42,260 14,174 38,705 247 4,471
12,872 45,451 7,085 40,119 (175) 6,440
-- -- (6,106) (33,953) -- --
-- -- (1,296) (1,617) -- --
-- -- (1,896) (4,483) -- --
-- -- (546) (55) -- --
-- -- (75) (584) -- --
11,093 (3,250) @@ 1 3 2
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-------- -------- -------- -------- ------- -------
83,516 177,340 24,695 112,254 868 34,307
-------- -------- -------- -------- ------- -------
101,975 176,089 29,684 118,141 1,768 23,775
460,368 284,279 378,059 259,918 44,572 20,797
-------- -------- -------- -------- ------- -------
$562,343 $460,368 $407,743 $378,059 $46,340 $44,572
======== ======== ======== ======== ======= =======
$ 1,148 $ 555 $ 269 $ 42 $ 151 $ 194
======== ======== ======== ======== ======= =======
</Table>
161
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUND II, INC.
STATEMENT OF CHANGES IN NET ASSETS -- (CONTINUED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
VALUE OPPORTUNITIES FUND
--------------------------------------------
FOR THE SIX-MONTH
PERIOD ENDED FOR THE YEAR ENDED
APRIL 30, 2003 OCTOBER 31, 2002
----------------- ------------------
OPERATIONS:
Net investment income (loss).............................. $ (80) $ (181)
Net realized gain (loss) on investments................... (1,485) (7,257)
Net unrealized appreciation (depreciation) of
investments............................................. 4,019 (1,174)
------- -------
Net increase (decrease) in net assets resulting from
operations.............................................. 2,454 (8,612)
------- -------
DISTRIBUTIONS TO SHAREHOLDERS:
From net investment income
Class A................................................. -- --
Class B................................................. -- --
Class C................................................. -- --
Class E................................................. -- --
Class H................................................. -- --
Class L................................................. -- --
Class M................................................. -- --
Class N................................................. -- --
Class Y................................................. -- --
Class Z................................................. -- --
From net realized gain on investments
Class A................................................. -- --
Class B................................................. -- --
Class C................................................. -- --
Class E................................................. -- --
Class H................................................. -- (556)
Class L................................................. -- (1,884)
Class M................................................. -- (583)
Class N................................................. -- (184)
Class Y................................................. -- --
Class Z................................................. -- --
------- -------
Total distributions..................................... -- (3,207)
------- -------
CAPITAL SHARE TRANSACTIONS:
Class A................................................. 20 3,054
Class B................................................. 212 557
Class C................................................. 187 496
Class E................................................. -- --
Class H................................................. (377) (425)
Class L................................................. (1,304) (1,773)
Class M................................................. (304) 226
Class N................................................. (178) (301)
Class Y................................................. -- 1
Class Z................................................. -- --
Issuance of shares in connection with fund merger (Note
10)
Class A................................................. -- --
Class B................................................. -- --
Class C................................................. -- --
------- -------
Net increase (decrease) from capital share transactions... (1,744) 1,835
------- -------
Net increase (decrease) in net assets..................... 710 (9,984)
NET ASSETS:
Beginning of period....................................... 37,248 47,232
------- -------
End of period............................................. $37,958 $37,248
======= =======
Accumulated undistributed (distribution in excess of) net
investment income......................................... $ (80) $ --
======= =======
</Table>
The accompanying notes are an integral part of these financial statements.
162
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUND II, INC.
NOTES TO FINANCIAL STATEMENTS
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
1. ORGANIZATION: The Hartford Mutual Funds, Inc. and The Hartford Mutual Funds
II, Inc. (the Companies) are open-end management investment companies
comprised of thirty-three portfolios (each a "Fund" or together the
"Funds"). They are The Hartford Advisers Fund, The Hartford Capital
Appreciation Fund, The Hartford Dividend and Growth Fund, The Hartford Focus
Fund, The Hartford Global Communications Fund, The Hartford Global Financial
Services Fund, The Hartford Global Health Fund, The Hartford Global Leaders
Fund, The Hartford Global Technology Fund, The Hartford Growth and Income
Fund, The Hartford Growth Fund, The Hartford Growth Opportunities Fund, The
Hartford High Yield Fund, The Hartford Income Fund, The Hartford Inflation
Plus Fund, The Hartford International Capital Appreciation Fund, The
Hartford International Opportunities Fund, The Hartford International Small
Company Fund, The Hartford MidCap Fund, The Hartford MidCap Value Fund, The
Hartford Money Market Fund, The Hartford Short Duration Fund, The Hartford
Small Company Fund, The Hartford SmallCap Growth Fund, The Hartford Stock
Fund, The Tax-Free California Fund, The Hartford Tax-Free Minnesota Fund,
The Hartford Tax-Free National Fund, The Hartford Tax-Free New York Fund,
The Hartford Total Return Bond Fund, The Hartford U.S. Government Securities
Fund, The Hartford Value Fund and The Hartford Value Opportunities Fund. The
Companies are organized under the laws of the State of Maryland and were
registered with the Securities and Exchange Commission (SEC) under the
Investment Company Act of 1940, as amended, as diversified open-end
management investment companies, except for The Hartford Focus Fund, The
Hartford Global Communications Fund, The Hartford Global Financial Services
Fund, The Hartford Global Health Fund, The Hartford Global Technology Fund,
The Inflation Plus Fund, The Hartford Tax-Free California Fund and The
Hartford Tax-Free New York Fund which are non-diversified.
The Funds, their classes and investment objectives are listed below:
<Table>
The Hartford Advisers Fund (Advisers Fund) Seeks maximum long-term total return.
Classes A, B, C and Y
The Hartford Capital Appreciation Fund Seeks growth of capital.
(Capital Appreciation Fund)
Classes A, B, C and Y
The Hartford Dividend and Growth Fund Seeks a high level of current income consistent with growth
(Dividend and Growth Fund) of capital.
Classes A, B, C and Y
The Hartford Focus Fund (Focus Fund) Seeks long-term capital appreciation.
Classes A, B, C and Y
The Hartford Global Communications Fund Seeks long-term capital appreciation.
(Global Communications Fund)
Classes A, B, C and Y
The Hartford Global Financial Services Fund Seeks long-term capital appreciation.
(Global Financial Services Fund)
Classes A, B, C and Y
The Hartford Global Health Fund Seeks long-term capital appreciation.
(Global Health Fund)
Classes A, B, C and Y
The Hartford Global Leaders Fund Seeks growth of capital.
(Global Leaders Fund)
Classes A, B, C and Y
The Hartford Global Technology Fund Seeks long-term capital appreciation.
(Global Technology Fund)
Classes A, B, C and Y
The Hartford Growth and Income Fund Seeks growth of capital and current income.
(Growth and Income Fund)
Classes A, B, C and Y
The Hartford Growth Fund (Growth Fund) Seeks long-term capital appreciation.
Classes A, B, C, H, L, M, N and Y
The Hartford Growth Opportunities Fund Seeks short- and long-term capital appreciation.
(Growth Opportunities Fund)
Classes A, B, C, H, L, M, N, Y and Z
The Hartford High Yield Fund Seeks a high current income. Growth of capital is a
(High Yield Fund) secondary objective.
Classes A, B, C and Y
The Hartford Income Fund (Income Fund) Seeks to provide a high level of current income. Capital
Classes A, B and C appreciation is a secondary objective.
</Table>
163
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUND II, INC.
NOTES TO FINANCIAL STATEMENTS -- (CONTINUED)
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
The Hartford Inflation Plus Fund Seeks a total return that exceeds the rate of inflation over
(Inflation Plus Fund) the economic cycle.
Classes A, B and C
The Hartford International Capital Appreciation Fund Seeks capital appreciation.
(International Capital Appreciation Fund)
Classes A, B, C and Y
The Hartford International Opportunities Fund Seeks growth of capital.
(International Opportunities Fund)
Classes A, B, C and Y
The Hartford International Small Company Fund Seeks capital appreciation.
(International Small Company Fund)
Classes A, B, C and Y
The Hartford MidCap Fund (MidCap Fund) Seeks long-term growth of capital.
Classes A, B, C and Y
The Hartford MidCap Value Fund Seeks long-term capital appreciation.
(MidCap Value Fund)
Classes A, B, C and Y
The Hartford Money Market Fund Seeks maximum current income consistent with liquidity and
(Money Market Fund) preservation of capital.
Classes A, B, C and Y
The Hartford Short Duration Fund Seeks to provide a high level of income.
(Short Duration Fund)
Classes A, B and C
The Hartford Small Company Fund Seeks growth of capital.
(Small Company Fund)
Classes A, B, C and Y
The Hartford SmallCap Growth Fund Seeks to maximize short and long-term capital appreciation.
(SmallCap Growth Fund)
Classes A, B, C, H, L, M, N and Y
The Hartford Stock Fund (Stock Fund) Seeks long-term growth of capital, with income as a
Classes A, B, C and Y secondary consideration.
The Hartford Tax-Free California Fund Seeks to provide current income exempt from both federal and
(Tax-Free California Fund) California income tax.
Classes A, B and C
The Hartford Tax-Free Minnesota Fund Seeks to provide current income exempt from both federal
(Tax-Free Minnesota Fund) income tax and Minnesota state personal income tax.
Classes A, B, C, E, H, L, M, N and Y
The Hartford Tax-Free National Fund Seeks provide current income exempt from federal income tax.
(Tax-Free National Fund)
Classes A, B, C, E, H, L, M, N and Y
The Hartford Tax-Free New York Fund Seeks to provide current income exempt from federal, New
(Tax-Free New York Fund) York State and New York City income tax.
Classes A, B and C
The Hartford Total Return Bond Fund Seeks a competitive total return, with income as a secondary
(Total Return Bond Fund) objective.
Classes A, B, C and Y
The Hartford U.S. Government Securities Fund Seeks to maximize total return while providing shareholders
(U.S. Government Securities Fund) with a level of current income consistent with prudent
Classes A, B, C, E, H, L, M, N and Y investment risk.
The Hartford Value Fund (Value Fund) Seeks long-term total return.
Classes A, B, C and Y
The Hartford Value Opportunities Fund Seeks short- and long-term capital appreciation.
(Value Opportunities Fund)
Classes A, B, C, H, L, M, N and Y
</Table>
164
- --------------------------------------------------------------------------------
Effective October 31, 2002, the name of The Hartford Bond Income Strategy
Fund was changed to The Hartford Total Return Bond Fund.
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 net asset value 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 front-end sales charge of up to 1% and a contingent deferred sales
charge of up to 1%. Class E is sold with a front-end sales charge of 4.50%.
Classes H and M are sold with a contingent deferred sales charge, which is
assessed on the lesser of the net asset value of the shares at the time of
redemption or the original purchase price, and declines from 4.00% to zero
depending on the period of time the shares are held. Class L is sold with a
sales charge up to 4.75%. Class N is sold with a contingent deferred sales
charge of 1.00% if redeemed within 1 year. Class Y shares are sold to
certain eligible institutional investors without a sales charge. Class Z is
sold without sales charges. All classes of shares have identical voting,
redemption, dividend, liquidation and other rights and the same terms and
conditions, except 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. Classes H and N shares will automatically
convert to Class L shares after 8 years.
2. SIGNIFICANT ACCOUNTING POLICIES: The following is a summary of significant
accounting policies of the Funds, which are in accordance with generally
accepted accounting principles in the investment company industry:
A) SECURITY TRANSACTIONS -- Security transactions are recorded on the trade
date (date the order to buy or sell is executed). Security gains and losses
are determined on the basis of identified cost.
B) SECURITY VALUATION AND INVESTMENT INCOME -- Equity securities are valued
at the last sales price reported on the principal securities exchange on
which such securities are traded (domestic or foreign) or on the principal
over-the-counter market on which such securities are traded, as of the close
of business on the day the securities are being valued. If no sale took
place on a particular day then such securities are valued at the mean
between the bid and asked prices. The difference between cost and market
value for debt and equity securities is recorded in the Statement of
Operations and accumulated in shareholders' equity.
Debt securities (other than short-term obligations) are valued on the basis
of valuations furnished by an unaffiliated pricing service, which determines
valuations for normal institutional size trading units of debt securities.
Mortgage securities are valued at the bid price. Short-term securities held
in the Money Market Fund are valued at amortized cost or original cost plus
accrued interest receivable, both of which approximate market value. In the
remaining Funds, short-term investments with maturity of 60 days or less
when purchased are valued at amortized cost, which approximates market
value. Short-term investments purchased with a maturity of more than 60 days
when purchased are valued based on market quotations until the remaining
days to maturity becomes less than 61 days. From such time until maturity,
the investments are valued at amortized cost.
Securities quoted in foreign currencies are translated into U.S. dollars at
the exchange rates at the end of each business day. Options are valued at
the last sales price. If no sale took place on such day, then options are
valued at the mean between the bid and asked prices. Securities for which
market quotations are not readily available and all other assets are valued
in good faith at fair value by, or under the direction of, the Funds' Board
of Directors.
Investment Income such as dividend income is recorded on the ex-dividend
date. Interest income, including amortization of bond premium and discount,
is recorded on the accrual basis.
C) FOREIGN CURRENCY TRANSACTIONS -- The accounting records of the Funds are
maintained in U.S. dollars. All assets and liabilities initially expressed
in foreign currencies are converted into U.S. dollars at 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 Funds do not isolate that portion of portfolio security valuation
resulting from fluctuations in 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 Funds, except for the Money Market Fund, may
lend their securities to certain qualified brokers who pay these Funds
negotiated lender fees. The loans are collateralized at all times with cash
or short-term money market instruments with a market value at least equal to
the market value of the securities on loan. As with other extensions of
credit, these Funds may bear the risk of delays or cost in the recovery of
loaned securities or gaining access to the collateral should the borrower of
the securities fail financially. As of April 30, 2003, the market value of
the securities loaned and the market value of the collateral were as
follows:
<Table>
<Caption>
VALUE OF
SECURITIES VALUE OF
FUND LOANED COLLATERAL
---- ---------- ----------
Advisers Fund.......................... $ 65,266 $ 67,296
Capital Appreciation Fund.............. 387,052 412,658
Dividend and Growth Fund............... 15,131 15,589
Global Communications Fund............. 1,572 1,693
Global Financial Services Fund......... 124 127
Global Health Fund..................... 39,747 41,660
Global Leaders Fund.................... 108,082 111,440
Global Technology Fund................. 1,488 1,573
Growth Fund............................ 14,955 15,298
Growth Opportunities Fund.............. 37,577 39,568
High Yield Fund........................ 37,456 39,406
International Capital Appreciation
Fund................................. 815 858
International Opportunities Fund....... 22,324 23,180
International Small Company Fund....... 2,032 2,112
MidCap Fund............................ 109,526 115,734
MidCap Value Fund...................... 7,963 8,447
Small Company Fund..................... 6,200 6,470
</Table>
165
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUND II, INC.
NOTES TO FINANCIAL STATEMENTS -- (CONTINUED)
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
VALUE OF
SECURITIES VALUE OF
FUND LOANED COLLATERAL
---- ---------- ----------
SmallCap Growth Fund................... 8,526 10,746
Stock Fund............................. 5,237 5,260
Total Return Bond Fund................. 118,015 122,438
U.S. Government Securities Fund........ 5,261 5,395
Value Opportunities Fund............... 971 1,046
</Table>
E) JOINT TRADING ACCOUNT -- Pursuant to an exemptive order issued by the
Securities and Exchange Commission, the Funds may transfer uninvested cash
balances into a joint trading account managed by The Hartford Investment
Management Company (HIMCO) 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 Funds enter 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 each Fund's custodian in book entry or physical form
in the custodial account of the Fund. Repurchase agreements are valued at
cost plus accrued interest receivable. All repurchase agreements are
executed through the Fund's custodian, State Street Bank.
Certain Funds, together with other investment management companies having
investment advisory agreements with Wellington have an interest in
$1,861,780 joint repurchase agreement dated 4/30/03 with State Street Bank,
1.27% due 5/01/03. This joint repurchase agreement is collateralized by
$981,147 U.S. Treasury Bonds 13.25% - 5.25% due 2029 - 2014, and $950,663
U.S. Treasury Notes 13.875% - 2.875% due 2012 - 2004. The maturity amounts
are as follows:
<Table>
<Caption>
MATURITY
FUND AMOUNT
---- --------
Advisers Fund.................................... $ 62,719
Capital Appreciation Fund........................ 224,296
Dividend and Growth Fund......................... 83,428
Focus Fund....................................... 2,959
Global Communications Fund....................... 313
Global Financial Services........................ 702
Global Health Fund............................... 2,186
Global Leaders Fund.............................. 6,371
Global Technology Fund........................... 2,713
Growth and Income Fund........................... 1,444
Growth Fund...................................... 12,810
Growth Opportunities Fund........................ 2,004
International Capital Appreciation Fund.......... 264
International Opportunities Fund................. 7,256
International Small Company Fund................. 723
MidCap Fund...................................... 81,145
MidCap Value Fund................................ 4,032
Small Company Fund............................... 9,774
Stock Fund....................................... 13,098
Value Fund....................................... 1,447
Value Opportunities Fund......................... 846
</Table>
Certain Funds, together with other investment management companies having
investment advisory agreements with HIMCO have an interest in $683,076 joint
repurchase agreement dated 4/30/03 with State Street Bank, 1.25% due
5/01/03. This joint repurchase agreement is collateralized by $710,134 U.S.
Treasury Bonds 13.25% - 5.25% due 2029 - 2014. The maturity amounts are as
follows:
<Table>
<Caption>
MATURITY
FUND AMOUNT
---- --------
High Yield Fund.................................. $12,075
Income Fund...................................... 299
Inflation Plus Fund.............................. 246
Money Market Fund................................ 14,317
Short Duration Fund.............................. 296
Total Return Bond Fund........................... 29,204
U.S. Government Securities Fund.................. 2,695
</Table>
The SmallCap Growth Fund has a $1,843 repurchase agreement dated 4/30/03
with State Street Bank, 1.27% due 5/01/03. This repurchase agreement is
collateralized by $1,872 U.S. Treasury Bond 7.50% due 2024.
G) FUTURES, OPTIONS ON FUTURES AND OPTIONS TRANSACTIONS -- Certain Funds may
invest in futures 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
Funds enter into such contracts, they are required to deposit with their
custodian an amount of "initial margin" of cash, commercial paper or U.S.
Treasury Bills. Subsequent payments, called maintenance 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 Funds. The market value of a traded futures
contract is the last sale price. In the absence of a last sale price, the
last offering price is used. In the absence of either of these prices, fair
value is determined according to procedures established by the Funds' Board
of Directors.
At any time prior to expiration of the futures contract, the Funds may close
the position by taking an opposite position, which would operate to
terminate the position in the futures contract. A final determination of
maintenance margin is then made, additional cash is required to be paid by
or released to the Funds and the Funds realize a gain or loss.
The use of futures contracts involve elements of market and counter party
risk, which may exceed the amounts recognized in the Statements of Net
Assets. Change in the value of the futures contracts may decrease the
effectiveness of a Fund's strategies and potentially result in loss.
The premium paid by a 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. If a purchased option expires on its
stipulated expiration date, the Fund realizes a loss in the amount of the
cost of the option. If the Fund exercises a put option, it realizes a gain
or loss from the sale of the underlying security and the proceeds from such
sale will be decreased by the premium originally paid. If the Fund exercises
a call option, the cost of the security, which the
166
- --------------------------------------------------------------------------------
Fund purchases upon exercise, will be increased by the premium originally
paid to buy the call.
The Funds may write covered options. "Covered" means that so long as a Fund
is obligated as the writer of an option, it will own either the underlying
securities or currency or the option to purchase or sell the same underlying
securities or currency having the expiration date of the covered option and
an exercise price equal to or less than the exercise price of the covered
option, or will establish or maintain with it's custodian for the term of
the option a "segregated account" consisting of cash or other liquid
securities having a value equal to the fluctuating market value of the
option securities or currencies. A Fund receives a premium for writing a
call or put option, recorded as a component of other liabilities on the
Statement of Assets and Liabilities, which increases the Funds' return,
recorded as a realized gain, if the option expires unexercised or is closed
out at a net profit. Any loss realized from the covered option is offset by
the gain realized on the sale of the underlying securities or currency.
Covered options, at times before exercise or close out, are marked-to-market
through net unrealized appreciation (depreciation) of options. There is a
risk of loss from a change in value of such options, which may exceed the
related premiums received.
The Fund's had no option activity for the six-month period ended April 30,
2003.
H) FORWARD FOREIGN CURRENCY CONTRACTS -- For the six-month period ended
April 30, 2003, the Capital Appreciation Fund, the Global Communications
Fund, the Global Health Fund, the Global Leaders Fund, the High Yield Fund,
the International Capital Appreciation Fund, the International Opportunities
Fund, the International Small Company Fund, the MidCap Fund, the Small
Company Fund and the Total Return Bond Fund entered into forward foreign
currency exchange contracts that obligate the Funds to repurchase/replace or
sell currencies at specified future dates. The Funds enter into forward
foreign currency contracts to hedge against adverse fluctuations in exchange
rates between currencies.
Forward 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
counterparties to meet the terms of the contract and from unanticipated
movement in the value of foreign currencies relative to the U.S. dollar.
I) INDEXED SECURITIES -- The Funds may invest in indexed securities whose
values are linked to changes in interest rates, indices, or other underlying
instruments. The Funds use these securities to increase or decrease their
exposure to different underlying instruments and to gain exposure to markets
that might be difficult to invest through 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 is a
limit to the potential appreciation of the investment.
J) FEDERAL INCOME TAXES -- For federal income tax purposes, the Funds intend
to continue to qualify as regulated investment companies under Subchapter M
of the Internal Revenue Code by distributing substantially all of their
taxable net investment income and net realized capital gains to their
shareholders or otherwise complying with the requirements of regulated
investment companies. On a calendar year basis, the funds are subject to a
4% federal excise tax to the extent it does not distribute substantially all
of its net investment income and realized gains, if any. Accordingly, no
provision for federal income taxes has been made in the accompanying
financial statements.
The tax character of distributions paid for the periods indicated is as
follows:
<Table>
<Caption>
FOR THE SIX-MONTH FOR THE YEAR
PERIOD ENDED ENDED
APRIL 30, 2003 OCTOBER 31, 2002
----------------- ------------------
ADVISERS FUND
Ordinary income....... 14,647 31,960
DIVIDEND AND GROWTH FUND
Ordinary income....... 4,365 6,346
Long-term capital
gains............... 12,883
GLOBAL FINANCIAL
SERVICES FUND
Ordinary income....... 58
GLOBAL HEALTH FUND
Ordinary income....... 1,235 2,670
Long-term capital
gains............... 3,822 1,353
GROWTH FUND
Long-term capital
gains............... 147
GROWTH OPPORTUNITIES
FUND
Long-term capital
gains............... 8,492
HIGH YIELD FUND
Ordinary income....... 11,022 15,541
INCOME FUND
Ordinary income....... 340
INFLATION PLUS FUND
Ordinary income....... 1,572
INTERNATIONAL CAPITAL
APPRECIATION FUND
Ordinary income....... 6
INTERNATIONAL SMALL
COMPANY FUND
Ordinary income....... 17
MONEY MARKET FUND
Ordinary income....... 715 2,942
SHORT DURATION FUND
Ordinary income....... 430
SMALL CAP GROWTH FUND
Long-term capital
gains............... 2,944
TAX-FREE CALIFORNIA FUND
Ordinary income....... 179
TAX-FREE MINNESOTA FUND
Ordinary income....... 752 1,352
Long-term capital
gains............... 195
TAX-FREE NATIONAL FUND
Ordinary income....... 1,319 2,171
Long-term capital
gains............... 1,604 97
TAX-FREE NEW YORK
Ordinary income....... 149
TOTAL RETURN BOND FUND
Ordinary income....... 15,231 16,772
Long-term capital
gains............... 1,383 1,089
U.S. GOVERNMENT
SECURITIES FUND
Ordinary income....... 8,109 10,796
</Table>
167
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUND II, INC.
NOTES TO FINANCIAL STATEMENTS -- (CONTINUED)
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
FOR THE SIX-MONTH FOR THE YEAR
PERIOD ENDED ENDED
APRIL 30, 2003 OCTOBER 31, 2002
----------------- ------------------
VALUE FUND
Ordinary income....... 239 119
VALUE OPPORTUNITIES FUND
Ordinary income....... 1,805
Long-term capital
gains............... 1,402
</Table>
K) FUND SHARE VALUATION AND DIVIDEND DISTRIBUTIONS TO SHAREHOLDERS -- Orders
for a Fund's shares are executed in accordance with the investment
instructions of the shareholders. 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 and expenses are accrued on a daily basis. The net asset value of
each Fund's shares is determined as of the close of each business day of the
New York Stock Exchange (the Exchange). The net asset value per share is
determined separately for each class of each 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 a Fund's shares received prior to
the close of the Exchange on any day on which the Exchange is open for
business are priced at the per-share net asset value determined as of the
close of the Exchange. Orders received 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 per-share net asset value next determined.
Each 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
Capital Appreciation Fund, the Focus Fund, Global Communications Fund, the
Global Financial Services Fund, the Global Health Fund, the Global Leaders
Fund, the Global Technology Fund, the Growth Fund, Growth and Income Fund,
the Growth Opportunities Fund, the International Capital Appreciation Fund,
the International Opportunities Fund, the International Small Company Fund,
the MidCap Fund, the MidCap Value Fund, the Small Company Fund, the SmallCap
Growth Fund, the Stock Fund, the Value Fund, and the Value Opportunities
Fund will be declared and paid annually; dividends from net investment
income of the Advisers Fund and the Dividend and Growth Fund will be
declared and paid quarterly; dividends from the net investment income of the
High Yield Fund, the Income Fund, the Inflation Plus Fund, the Short
Duration Fund, the Tax-Free California Fund, the Tax-Free Minnesota Fund,
the Tax-Free National Fund, the Tax-Free New York Fund, the Total Return
Bond Fund and the U. S. Government Securities Fund will be declared and paid
monthly and dividends from net investment income of the Money Market Fund
will be declared daily and paid monthly. Dividends from the Money Market
Fund are not paid on shares until the day following the date on which the
shares are issued. Unless shareholders specify otherwise, all dividends and
distributions will be automatically reinvested in additional full or
fractional shares of each Fund.
Net investment income and net realized capital gains available for
distribution are determined in accordance with federal income tax
regulations, which may differ from generally accepted accounting principles.
These differences include the treatment of non-taxable dividends, expiring
capital loss carryforwards, foreign currency gains and losses; losses
deferred due to wash sales and excise tax regulations. Permanent book and
federal income tax basis differences relating to shareholder distributions
will result in reclassifications to certain of the Funds' capital accounts
(see Note 7).
L) USE OF ESTIMATES -- The preparation of financial statements in conformity
with accounting principles generally accepted in the United States 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) RESTRICTED SECURITIES -- Each Fund is permitted to invest up to 15% of
its net assets in illiquid securities, except for the Money Market Fund,
which may invest up to 10% in such securities. "Illiquid Securities" are
those that may not be sold or disposed of in the ordinary course of
business, at approximately the price used to determine a Fund's net asset
value per share. Each 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 Funds' Board of Directors.
N) CREDIT DEFAULT SWAPS -- The funds may enter into credit default swaps.
The credit default swap market allows the funds to manage credit risk
through buying and selling credit protection on specific companies or a
basket of companies. A buyer 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 a premium and agrees to assume the credit risk of
an issuer upon the occurrence of certain events. The funds will limit credit
default swap transactions to five percent (5%) of the fund's net assets at
the time of purchase. As of April 30, 2003, there were no credit default
swaps.
O) SECURITIES PURCHASED ON A WHEN-ISSUED BASIS: -- Delivery and payment for
securities that have been purchased by the fund on a forward commitment or
when-issued basis can take place a month or more after the transaction date.
During this period, such securities are subject to market fluctuations and
the fund maintains in a segregated account with its custodian, assets with a
market value equal to the amount of its purchase commitments. As of April
30, 2003, the Tax-Free National Fund had entered into outstanding
when-issued or forward commitments of $2,365 and the Tax-Free New York Fund
had entered into outstanding when-issued or forward commitments of $98.
3. EXPENSES:
A) INVESTMENT MANAGEMENT AND ADVISORY AGREEMENTS -- Hartford Investment
Financial Services Company (HIFSCO), a wholly-owned indirect subsidiary of
The Hartford Financial Services Group, Inc. (The Hartford), serves as
investment manager to each Fund pursuant to an Investment Advisory Agreement
dated March 3, 1997. As investment manager, HIFSCO has overall investment
supervisory responsibility for each Fund. In addition, HIFSCO provides
administrative personnel, services, equipment and facilities and office
space for proper operation of the Funds. HIFSCO has contracted with
Wellington for the provision of day to day investment management services to
the Advisers Fund, the Capital Appreciation Fund, the Dividend and Growth
Fund, the Focus Fund, Global Communications Fund, the Global Financial
Services Fund, the Global Health Fund, the Global Leaders Fund,
168
- --------------------------------------------------------------------------------
the Global Technology Fund, the Growth and Income Fund, the Growth Fund, the
Growth Opportunities Fund, the International Capital Appreciation Fund, the
International Opportunities Fund, the International Small Company Fund, the
MidCap Fund, the MidCap Value Fund, the Small Company Fund, the SmallCap
Growth Fund, the Stock Fund, the Value Fund and the Value Opportunities Fund
in accordance with each Fund's investment objective and policies. In
addition, HIFSCO has contracted with HIMCO, a wholly owned subsidiary of The
Hartford, for the provision of day to day investment management services for
the High Yield Fund, the Income Fund, the Inflation Plus Fund, the Money
Market Fund, the Short Duration Fund, the Tax-Free California Fund, Tax-Free
Minnesota Fund, the Tax-Free National Fund, the Tax-Free New York Fund, the
Total Return Bond Fund and the U.S. Government Securities Fund. Each Fund
pays a fee to HIFSCO, a portion of which may be used to compensate
Wellington or HIMCO.
The schedules below reflect the rates of compensation paid to HIFSCO for
investment advisory services rendered:
<Table>
<Caption>
MONEY MARKET FUND
AVERAGE DAILY NET ASSETS ANNUAL FEE
------------------------ ----------
On first $500 million.......................... .50%
On next $500 million........................... .45%
Over $1 billion................................ .40%
</Table>
<Table>
<Caption>
TAX-FREE NATIONAL FUND
AND U.S. GOVERNMENT SECURITIES FUND
AVERAGE DAILY NET ASSETS ANNUAL FEE
------------------------ ----------
On first $50 million........................... .80%
Over $50 million............................... .70%
</Table>
<Table>
<Caption>
TOTAL RETURN BOND FUND
AVERAGE DAILY NET ASSETS ANNUAL FEE
------------------------ ----------
On first $500 million.......................... .65%
On next $500 million........................... .55%
Over $1 billion................................ .50%
</Table>
<Table>
<Caption>
SMALL COMPANY FUND,
MIDCAP FUND,
MIDCAP VALUE FUND,
INTERNATIONAL OPPORTUNITIES FUND
AND GLOBAL LEADERS FUND
AVERAGE DAILY NET ASSETS ANNUAL FEE
------------------------ ----------
On first $500 million.......................... .85%
On next $500 million........................... .75%
Over $1 billion................................ .70%
</Table>
<Table>
<Caption>
TAX-FREE MINNESOTA
AVERAGE DAILY NET ASSETS ANNUAL FEE
------------------------ ----------
On first $50 million........................... .72%
Over $50 million............................... .70%
</Table>
<Table>
<Caption>
SMALLCAP GROWTH FUND,
GROWTH OPPORTUNITIES FUND,
VALUE OPPORTUNITIES FUND
AND GROWTH FUND
AVERAGE DAILY NET ASSETS ANNUAL FEE
------------------------ ----------
On first $100 million.......................... 1.00%
On next $150 million........................... .80%
Over $250 million.............................. .70%
</Table>
<Table>
<Caption>
DIVIDEND AND GROWTH FUND,
ADVISERS FUND
AND HIGH YIELD FUND
AVERAGE DAILY NET ASSETS ANNUAL FEE
------------------------ ----------
On first $500 million.......................... .75%
On next $500 million........................... .65%
Over $1 billion................................ .60%
</Table>
<Table>
<Caption>
INTERNATIONAL SMALL COMPANY FUND
AND INTERNATIONAL CAPITAL APPRECIATION FUND
AVERAGE DAILY NET ASSETS ANNUAL FEE
------------------------ ----------
On first $500 million.......................... 1.00%
On next $500 million........................... .90%
Over $1 billion................................ .85%
</Table>
<Table>
<Caption>
CAPITAL APPRECIATION FUND,
STOCK FUND,
VALUE FUND
AND GROWTH AND INCOME FUND
AVERAGE DAILY NET ASSETS ANNUAL FEE
------------------------ ----------
On first $500 million.......................... .80%
On next $500 million........................... .70%
Over $1 billion................................ .65%
</Table>
<Table>
<Caption>
GLOBAL COMMUNICATIONS FUND,
GLOBAL FINANCIAL SERVICES FUND,
GLOBAL HEALTH FUND,
GLOBAL TECHNOLOGY FUND
AND FOCUS FUND
AVERAGE DAILY NET ASSETS ANNUAL FEE
------------------------ ----------
On first $500 million.......................... 1.00%
On next $500 million........................... .95%
Over $1 billion................................ .90%
</Table>
<Table>
<Caption>
INCOME FUND
AND INFLATION PLUS FUND
AVERAGE DAILY NET ASSETS ANNUAL FEE
------------------------ ----------
On first $500 million.......................... .60%
Over $500 million.............................. .55%
</Table>
<Table>
<Caption>
TAX-FREE CALIFORNIA FUND,
TAX-FREE NEW YORK FUND
AND SHORT DURATION FUND
AVERAGE DAILY NET ASSETS ANNUAL FEE
------------------------ ----------
On first $500 million.......................... .55%
Over $500 million.............................. .50%
</Table>
169
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUND II, INC.
NOTES TO FINANCIAL STATEMENTS -- (CONTINUED)
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
B) DISTRIBUTION AND SERVICE PLAN FOR CLASS A, B, C, E, H, L, M AND N
SHARES -- HIFSCO, is the principal underwriter and distributor of the Funds.
HIFSCO is engaged in distribution activities, which include marketing,
distribution and clearing of shares through broker-dealers, financing
distribution costs and maintaining financial books and records. For the six
month period ended, April 30, 2003, the following revenues were received by
HIFSCO:
<Table>
<Caption>
FRONT-END LOAD CONTINGENT DEFERRED
SALES CHARGE SALES CHARGE
-------------- -------------------
HIFSCO................... $23,369 $5,686
</Table>
The Funds have 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, H, L, M and N shares and for providing
services for shareholders. The Distributor is compensated at an annual rate
that may not exceed 0.35% of the average daily net asset value of Class A
shares of the Fund, some or all of which may be remitted to brokers. Up to
0.25% of the fee may be used for shareholder servicing expenses with the
remainder used for distribution expenses. The Board of Directors have
currently authorized Rule 12b-1 payments of up to 0.30%. Some or the entire
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 service 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 L has a distribution
fee of 0.25% for each Fund, except for SmallCap Growth Fund has a 0.45%.
Classes H, M and N have a distribution fee of 1.00% of average daily net
assets on an annual basis, to be used to compensate those who sell shares of
the fund and pay certain other expenses of selling fund shares. There is no
distribution plan for Class Y shares.
C) OPERATING EXPENSES -- Allocable expenses incurred by the Funds are
allocated to each Fund in proportion to the average daily net assets of each
Fund, except where allocation of certain expenses is more fairly made
directly to the Fund or to specific classes within a Fund. The Hartford has
voluntarily agreed to limit the total operating expenses of the Class A, B,
C, H, L, M, N and Y shares of some of the Funds, exclusive of taxes,
interest, brokerage commissions, certain distribution expenses and
extraordinary expenses are as follows:
<Table>
<Caption>
FUND CLASS A CLASS B CLASS C CLASS H CLASS L CLASS M CLASS N CLASS Y
---- ------- ------- ------- ------- ------- ------- ------- -------
Focus Fund.................................... 1.65% 2.35% 2.35% NA NA NA NA 1.20%
Global Communications Fund.................... 1.65% 2.35% 2.35% NA NA NA NA 1.20%
Global Financial Services Fund................ 1.65% 2.35% 2.35% NA NA NA NA 1.20%
Global Health Fund............................ 1.65% 2.35% 2.35% NA NA NA NA 1.20%
Global Leaders Fund........................... 1.65% 2.35% 2.35% NA NA NA NA 1.20%
Global Technology Fund........................ 1.65% 2.35% 2.35% NA NA NA NA 1.20%
Growth and Income Fund........................ 1.45% 2.15% 2.15% NA NA NA NA 1.00%
Growth Fund................................... 1.45% 2.15% 2.15% 2.15% 1.45% 2.15% 2.15% 1.00%
Growth Opportunities Fund..................... 1.45% 2.15% 2.15% 2.15% 1.45% 2.15% 2.15% 1.00%
High Yield Fund............................... 1.40% 2.10% 2.10% NA NA NA NA 0.95%
Income Fund................................... 1.00% 1.70% 1.70% NA NA NA NA NA
Inflation Plus Fund........................... 1.00% 1.70% 1.70% NA NA NA NA NA
International Capital Appreciation Fund....... 1.65% 2.35% 2.35% NA NA NA NA 1.20%
International Opportunities Fund.............. 1.65% 2.35% 2.35% NA NA NA NA 1.20%
International Small Company Fund.............. 1.65% 2.35% 2.35% NA NA NA NA 1.20%
MidCap Value Fund............................. 1.45% 2.15% 2.15% NA NA NA NA 1.00%
Money Market Fund............................. 1.00% 1.70% 1.70% NA NA NA NA 0.55%
Short Duration Fund........................... 0.95% 1.65% 1.65% NA NA NA NA NA
Small Company Fund............................ 1.45% 2.15% 2.15% NA NA NA NA 1.00%
Small Cap Growth Fund......................... 1.45% 2.15% 2.15% 2.15% 1.45% 2.15% 2.15% 1.10%
Tax-Free California Fund...................... 0.95% 1.65% 1.65% NA NA NA NA NA
Tax-Free Minnesota Fund....................... 1.15% 1.85% 1.85% 1.85% 1.15% 1.85% 1.85% 0.80%
Tax-Free National Fund........................ 1.15% 1.85% 1.85% 1.85% 1.15% 1.85% 1.85% 0.85%
Tax-Free New York Fund........................ 0.95% 1.65% 1.65% NA NA NA NA NA
Total Return Bond Fund........................ 1.25% 1.95% 1.95% NA NA NA NA 0.80%
U.S. Government Securities Fund............... 1.20% 1.90% 1.90% 1.90% 1.20% 1.90% 1.90% 0.80%
Value Fund.................................... 1.45% 2.15% 2.15% NA NA NA NA 1.00%
Value Opportunities Fund...................... 1.45% 2.15% 2.15% 2.15% 1.45% 2.15% 2.15% 1.25%
</Table>
The Hartford may terminate such voluntary and temporary fee waivers and
expense limitation arrangements at any time.
170
- --------------------------------------------------------------------------------
Amounts incurred which exceed the above limits, are deducted from expenses
and are reported as expense reimbursements or waivers on the accompanying
Statement of Operations.
As of March 1, 2003, the fee waivers and expense limitation arrangements
ended for the Advisers Fund, the Capital Appreciation Fund, the Dividend and
Growth Fund, the MidCap Fund and the Stock Fund.
D) OTHER RELATED PARTY TRANSACTIONS -- The Hartford and its subsidiaries
provide facilities and office equipment, as well as perform certain other
services, including fund accounting and financial reporting, to the Funds.
Certain officers of the Funds are directors and/or officers of HIFSCO, HIMCO
and/or The Hartford or its subsidiaries. No officer of the Funds receives
any compensation directly from the Funds. Hartford Administrative Services
Company (HASCO), a wholly owned subsidiary of The Hartford, provides
transfer agent services to the Funds.
4. AFFILIATE HOLDINGS: As of April 30, 2003, affiliates of The Hartford had
ownership of shares in the Funds as follows:
<Table>
<Caption>
FUND CLASS A CLASS B CLASS C CLASS Y
---- ------- ------- ------- -------
Focus Fund................ -- -- -- 1
Global Communications
Fund.................... 700 100 100 100
Global Financial Services
Fund.................... 700 100 100 100
Global Health Fund........ @@ @@ @@ @@
Global Leaders Fund....... -- -- -- @@
Global Technology Fund.... -- -- -- @@
Growth and Income Fund.... -- -- -- 32
Growth Fund............... @@ @@ @@ @@
Growth Opportunities
Fund.................... @@ @@ @@ @@
High Yield Fund........... -- -- -- @@
Income Fund............... 814 101 101 NA
Inflation Plus Fund....... 806 101 101 NA
International Capital
Appreciation Fund....... 210 30 30 30
International Small
Company Fund............ 210 30 30 30
MidCap Value Fund......... -- -- -- @@
Short Duration Fund....... 807 101 101 NA
SmallCap Growth Fund...... @@ @@ @@ @@
Tax-Free California Fund 808 101 101 NA
Tax-Free Minnesota Fund... @@ @@ @@ @@
Tax-Free National Fund.... @@ @@ @@ @@
Tax-Free New York Fund.... 807 101 101 NA
U.S. Government Securities
Fund.................... @@ @@ @@ @@
</Table>
<Table>
<Caption>
FUND CLASS A CLASS B CLASS C CLASS Y
---- ------- ------- ------- -------
Value Fund................ -- -- -- 30
Value Opportunities
Fund.................... @@ @@ @@ @@
</Table>
@@ Due to the presentation of the financial statements in thousands,
the number of shares held round to zero.
5. INVESTMENT TRANSACTIONS: For the six-month period ended April 30, 2003, the
cost of purchases and proceeds from sales of securities for Money Market Fund
were $3,403,475 and $3,455,871, respectively. The cost of purchases and
proceeds from sales of securities (excluding short-term investments) for the
other portfolios were as follows:
<Table>
<Caption>
COST OF PROCEEDS
FUND PURCHASES FROM SALES
---- ---------- ----------
Advisers Fund....................... $ 573,163 $ 628,615
Capital Appreciation Fund........... 1,695,974 1,852,499
Dividend and Growth Fund............ 356,412 195,440
Focus Fund.......................... 100,489 109,495
Global Communications Fund.......... 4,045 3,620
Global Financial Services Fund...... 6,005 6,480
Global Health Fund.................. 37,740 51,128
Global Leaders Fund................. 712,128 725,955
Global Technology Fund.............. 25,906 27,620
Growth and Income Fund.............. 116,996 140,620
Growth Fund......................... 189,394 209,860
Growth Opportunities Fund........... 406,923 430,263
High Yield Fund..................... 104,225 43,864
Income Fund......................... 23,598 6,975
Inflation Plus Fund................. 201,700 4,804
International Capital Appreciation
Fund.............................. 9,754 8,719
International Opportunities Fund.... 54,972 59,926
International Small Company Fund.... 7,416 5,580
MidCap Fund......................... 668,402 508,990
MidCap Value Fund................... 39,802 36,663
Short Duration Fund................. 70,611 22,721
Small Company Fund.................. 149,977 158,984
SmallCap Growth Fund................ 64,485 69,608
Stock Fund.......................... 337,547 413,705
Tax-Free California Fund............ 15,923 4,634
Tax-Free Minnesota Fund............. 3,120 2,457
Tax-Free National Fund.............. 21,690 13,406
Tax-Free New York Fund.............. 14,606 4,628
Total Return Bond Fund.............. 632,645 569,070
U.S. Government Securities Fund..... 280,700 247,322
Value Fund.......................... 7,671 7,810
Value Opportunities Fund............ 8,805 11,140
</Table>
171
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUND II, INC.
NOTES TO FINANCIAL STATEMENTS -- (CONTINUED)
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
6. CAPITAL SHARE TRANSACTIONS: The following information is for the six-month
period ended April 30, 2003 or the year ended October 31, 2002 (for the
Income Fund, the Inflation Plus Fund, the Short Duration Fund, the Tax-Free
California Fund and the Tax-Free New York Fund includes only one days
transactions):
<Table>
<Caption>
SHARES ISSUED FOR SHARES ISSUED
SHARES SOLD REINVESTED DIVIDENDS SHARES REDEEMED FROM MERGER
---------------------- --------------------- ---------------------- ------------------
2003 2002 2003 2002 2003 2002 2003 2002
-------- ---------- -------- --------- --------- --------- ------ --------
ADVISERS FUND:
Class A Shares........... 10,527 30,212 768 1,488 (9,350) (19,331) -- 10,210
Amount............ $134,190 $ 425,382 $9,774 $20,243 $(118,900) $(261,961) $ -- $149,372
Class B Shares........... 2,409 7,800 189 413 (4,838) (10,661) -- 4,011
Amount............ $ 30,376 $ 109,498 $2,388 $ 5,576 $ (60,654) $(140,899) $ -- $ 58,085
Class C Shares........... 2,317 8,933 146 328 (4,662) (9,892) -- 721
Amount............ $ 29,500 $ 126,642 $1,865 $ 4,445 $ (59,037) $(133,048) $ -- $ 10,535
Class Y Shares........... 146 313 4 25 (10) (3,901) -- --
Amount............ $ 1,886 $ 4,432 $ 52 $ 377 $ (133) $ (59,007) $ -- $ --
CAPITAL APPRECIATION
FUND:
Class A Shares........... 8,897 37,272 -- -- (9,299) (19,951) -- --
Amount............ $183,090 $ 911,291 $ -- $ -- $(189,992) $(446,936) $ -- $ --
Class B Shares........... 3,044 15,443 -- -- (3,917) (7,947) -- --
Amount............ $ 59,381 $ 361,905 $ -- $ -- $ (75,424) $(165,543) $ -- $ --
Class C Shares........... 3,785 17,915 -- -- (4,428) (8,820) -- --
Amount............ $ 74,095 $ 419,454 $ -- $ -- $ (85,402) $(183,671) $ -- $ --
Class Y Shares........... 554 915 -- -- (279) (2,801) -- --
Amount............ $ 11,797 $ 22,058 $ -- $ -- $ (5,631) $ (76,693) $ -- $ --
DIVIDEND AND GROWTH FUND:
Class A Shares........... 14,903 32,386 270 868 (4,973) (7,280) -- --
Amount............ $203,660 $ 503,459 $3,673 $13,605 $ (67,446) $(107,015) $ -- $ --
Class B Shares........... 2,387 5,997 17 159 (1,388) (2,118) -- --
Amount............ $ 32,270 $ 92,473 $ 223 $ 2,503 $ (18,540) $ (30,687) $ -- $ --
Class C Shares........... 2,685 7,245 17 129 (1,566) (2,749) -- --
Amount............ $ 36,356 $ 111,009 $ 231 $ 2,036 $ (20,917) $ (39,850) $ -- $ --
Class Y Shares........... 663 930 9 40 (35) (1,567) -- --
Amount............ $ 9,183 $ 14,303 $ 131 $ 629 $ (473) $ (25,703) $ -- $ --
FOCUS FUND:
Class A Shares........... 505 3,997 -- -- (1,296) (2,518) -- --
Amount............ $ 3,799 $ 37,194 $ -- $ -- $ (9,654) $ (20,394) $ -- $ --
Class B Shares........... 151 1,013 -- -- (282) (518) -- --
Amount............ $ 1,123 $ 9,398 $ -- $ -- $ (2,068) $ (4,001) $ -- $ --
Class C Shares........... 207 1,553 -- -- (594) (732) -- --
Amount............ $ 1,544 $ 14,420 $ -- $ -- $ (4,346) $ (5,785) $ -- $ --
Class Y Shares........... 17 69 -- -- (4) (1) -- --
Amount............ $ 130 $ 635 $ -- $ -- $ (30) $ (10) $ -- $ --
GLOBAL COMMUNICATIONS FUND:
Class A Shares........... 176 306 -- -- (66) (107) -- --
Amount............ $ 606 $ 1,162 $ -- $ -- $ (220) $ (376) $ -- $ --
Class B Shares........... 33 123 -- -- (26) (41) -- --
Amount............ $ 110 $ 440 $ -- $ -- $ (86) $ (128) $ -- $ --
Class C Shares........... 36 98 -- -- (23) (60) -- --
Amount............ $ 123 $ 408 $ -- $ -- $ (76) $ (218) $ -- $ --
Class Y Shares........... 13 47 -- -- (6) -- -- --
Amount............ $ 44 $ 164 $ -- $ -- $ (22) $ -- $ -- $ --
GLOBAL FINANCIAL SERVICES FUND:
Class A Shares........... 59 304 6 -- (63) (154) -- --
Amount............ $ 459 $ 2,884 $ 44 $ -- $ (489) $ (1,390) $ -- $ --
Class B Shares........... 25 164 -- -- (23) (37) -- --
Amount............ $ 189 $ 1,540 $ -- $ -- $ (175) $ (315) $ -- $ --
Class C Shares........... 33 164 -- -- (45) (63) -- --
Amount............ $ 255 $ 1,530 $ -- $ -- $ (335) $ (529) $ -- $ --
Class Y Shares........... 2 78 2 -- (11) (1) -- --
Amount............ $ 18 $ 762 $ 13 $ -- $ (90) $ (8) $ -- $ --
GLOBAL HEALTH FUND:
Class A Shares........... 1,236 6,349 228 154 (1,849) (4,932) -- --
Amount............ $ 14,089 $ 83,934 $2,589 $ 2,030 $ (20,840) $ (61,196) $ -- $ --
Class B Shares........... 271 1,729 101 64 (433) (915) -- --
Amount............ $ 2,986 $ 22,654 $1,130 $ 840 $ (4,715) $ (10,740) $ -- $ --
<Caption>
NET INCREASE
(DECREASE) OF SHARES
--------------------
2003 2002
-------- --------
ADVISERS FUND:
Class A Shares........... 1,945 22,579
Amount............ $ 25,064 $333,036
Class B Shares........... (2,240) 1,563
Amount............ $(27,890) $ 32,260
Class C Shares........... (2,199) 90
Amount............ $(27,672) $ 8,574
Class Y Shares........... 140 (3,563)
Amount............ $ 1,805 $(54,198)
CAPITAL APPRECIATION
FUND:
Class A Shares........... (402) 17,321
Amount............ $ (6,902) $464,355
Class B Shares........... (873) 7,496
Amount............ $(16,043) $196,362
Class C Shares........... (643) 9,095
Amount............ $(11,307) $235,783
Class Y Shares........... 275 (1,886)
Amount............ $ 6,166 $(54,635)
DIVIDEND AND GROWTH FUND:
Class A Shares........... 10,200 25,974
Amount............ $139,887 $410,049
Class B Shares........... 1,016 4,038
Amount............ $ 13,953 $ 64,289
Class C Shares........... 1,136 4,625
Amount............ $ 15,670 $ 73,195
Class Y Shares........... 637 (597)
Amount............ $ 8,841 $(10,771)
FOCUS FUND:
Class A Shares........... (791) 1,479
Amount............ $ (5,855) $ 16,800
Class B Shares........... (131) 495
Amount............ $ (945) $ 5,397
Class C Shares........... (387) 821
Amount............ $ (2,802) $ 8,635
Class Y Shares........... 13 68
Amount............ $ 100 $ 625
GLOBAL COMMUNICATIONS FUN
Class A Shares........... 110 199
Amount............ $ 386 $ 786
Class B Shares........... 7 82
Amount............ $ 24 $ 312
Class C Shares........... 13 38
Amount............ $ 47 $ 190
Class Y Shares........... 7 47
Amount............ $ 22 $ 164
GLOBAL FINANCIAL SERVICES
Class A Shares........... 2 150
Amount............ $ 14 $ 1,494
Class B Shares........... 2 127
Amount............ $ 14 $ 1,225
Class C Shares........... (12) 101
Amount............ $ (80) $ 1,001
Class Y Shares........... (7) 77
Amount............ $ (59) $ 754
GLOBAL HEALTH FUND:
Class A Shares........... (385) 1,571
Amount............ $ (4,162) $ 24,768
Class B Shares........... (61) 878
Amount............ $ (599) $ 12,754
</Table>
@@ Due to the presentation of the financial statements in thousands, the number
or shares and/or dollars round to zero.
172
- --------------------------------------------------------------------------------
<Table>
<Caption>
SHARES ISSUED FOR SHARES ISSUED
SHARES SOLD REINVESTED DIVIDENDS SHARES REDEEMED FROM MERGER
---------------------- --------------------- ---------------------- ------------------
2003 2002 2003 2002 2003 2002 2003 2002
-------- ---------- -------- --------- --------- --------- ------ --------
Class C Shares........... 232 1,583 98 69 (519) (1,139) -- --
Amount............ $ 2,563 $ 20,910 $1,089 $ 897 $ (5,683) $ (13,533) $ -- $ --
Class Y Shares........... 21 94 2 7 (22) (345) -- --
Amount............ $ 248 $ 1,245 $ 23 $ 92 $ (255) $ (4,828) $ -- $ --
GLOBAL LEADERS FUND:
Class A Shares........... 15,398 38,303 -- -- (15,820) (32,026) -- 6,063
Amount............ $172,027 $ 476,139 $ -- $ -- $(176,472) $(410,391) $ -- $ 81,253
Class B Shares........... 291 892 -- -- (687) (1,468) -- 2,012
Amount............ $ 3,149 $ 12,236 $ -- $ -- $ (7,363) $ (17,733) $ -- $ 26,325
Class C Shares........... 571 1,533 -- -- (1,266) (3,154) -- 262
Amount............ $ 6,296 $ 19,049 $ -- $ -- $ (13,801) $ (38,398) $ -- $ 3,427
Class Y Shares........... 450 575 -- -- (1) (644) -- --
Amount............ $ 5,141 $ 7,234 $ -- $ -- $ (10) $ (9,185) $ -- $ --
GLOBAL TECHNOLOGY FUND:
Class A Shares........... 1,461 6,012 -- -- (1,217) (6,044) -- --
Amount............ $ 4,755 $ 26,713 $ -- $ -- $ (3,844) $ (25,765) $ -- $ --
Class B Shares........... 296 772 -- -- (343) (739) -- --
Amount............ $ 918 $ 3,149 $ -- $ -- $ (1,054) $ (2,751) $ -- $ --
Class C Shares........... 343 742 -- -- (563) (1,399) -- --
Amount............ $ 1,072 $ 3,146 $ -- $ -- $ (1,739) $ (5,115) $ -- $ --
Class Y Shares........... 98 516 -- -- (90) (1,485) -- --
Amount............ $ 313 $ 2,264 $ -- $ -- $ (279) $ (8,253) $ -- $ --
GROWTH AND INCOME FUND:
Class A Shares........... 2,666 8,981 -- -- (5,294) (6,736) -- 1,945
Amount............ $ 22,499 $ 91,439 $ -- $ -- $ (44,111) $ (64,226) $ -- $ 20,626
Class B Shares........... 435 1,220 -- -- (758) (1,387) -- 1,206
Amount............ $ 3,536 $ 11,971 $ -- $ -- $ (6,087) $ (12,606) $ -- $ 12,446
Class C Shares........... 477 1,280 -- -- (1,016) (2,046) -- 179
Amount............ $ 3,894 $ 12,720 $ -- $ -- $ (8,180) $ (18,897) $ -- $ 1,856
Class Y Shares........... 13 41 -- -- (2) (6) -- --
Amount............ $ 110 $ 425 $ -- $ -- $ (17) $ (61) $ -- $ --
GROWTH FUND:
Class A Shares........... 806 636 -- -- (247) (134) -- --
Amount............ $ 9,622 $ 8,247 $ -- $ -- $ (2,923) $ (1,639) $ -- $ --
Class B Shares........... 176 171 -- -- (34) (14) -- --
Amount............ $ 1,924 $ 1,973 $ -- $ -- $ (375) $ (147) $ -- $ --
Class C Shares........... 192 181 -- -- (47) (44) -- --
Amount............ $ 2,091 $ 2,077 $ -- $ -- $ (495) $ (468) $ -- $ --
Class H Shares........... 78 239 -- 1 (323) (735) -- --
Amount............ $ 855 $ 3,107 $ -- $ 13 $ (3,474) $ (8,866) $ -- $ --
Class L Shares........... 541 1,044 -- 8 (1,993) (5,098) -- --
Amount............ $ 6,534 $ 14,904 $ -- $ 116 $ (23,824) $ (68,367) $ -- $ --
Class M Shares........... 96 285 -- @@ (281) (460) -- --
Amount............ $ 1,037 $ 3,657 $ -- $ 10 $ (3,006) $ (5,592) $ -- $ --
Class N Shares........... 14 72 -- @@ (43) (201) -- --
Amount............ $ 154 $ 952 $ -- $ 2 $ (468) $ (2,481) $ -- $ --
Class Y Shares........... -- @@ -- -- -- -- -- --
Amount............ $ -- $ 1 $ -- $ -- $ -- $ -- $ -- $ --
GROWTH OPPORTUNITIES
FUND:
Class A Shares........... 173 289 -- -- (82) (71) -- --
Amount............ $ 2,748 $ 5,314 $ -- $ -- $ (1,278) $ (1,171) $ -- $ --
Class B Shares........... 44 69 -- -- (10) (12) -- --
Amount............ $ 633 $ 1,159 $ -- $ -- $ (145) $ (187) $ -- $ --
Class C Shares........... 46 106 -- -- (36) (41) -- --
Amount............ $ 664 $ 1,612 $ -- $ -- $ (511) $ (596) $ -- $ --
Class H Shares........... 129 316 -- 36 (380) (643) -- --
Amount............ $ 1,820 $ 5,424 $ -- $ 647 $ (5,319) $ (10,604) $ -- $ --
Class L Shares........... 580 1,473 -- 311 (2,297) (5,768) -- --
Amount............ $ 9,171 $ 28,880 $ -- $ 6,190 $ (36,164) $(107,309) $ -- $ --
Class M Shares........... 83 214 -- 17 (187) (320) -- --
Amount............ $ 1,167 $ 3,662 $ -- $ 322 $ (2,617) $ (5,191) $ -- $ --
Class N Shares........... 14 42 -- 4 (52) (96) -- --
Amount............ $ 197 $ 744 $ -- $ 73 $ (723) $ (1,657) $ -- $ --
<Caption>
NET INCREASE
(DECREASE) OF SHARES
--------------------
2003 2002
-------- --------
Class C Shares........... (189) 513
Amount............ $ (2,031) $ 8,274
Class Y Shares........... 1 (244)
Amount............ $ 16 $ (3,491)
GLOBAL LEADERS FUND:
Class A Shares........... (422) 12,340
Amount............ $ (4,445) $147,001
Class B Shares........... (396) 1,436
Amount............ $ (4,214) $ 20,828
Class C Shares........... (695) (1,359)
Amount............ $ (7,505) $(15,922)
Class Y Shares........... 449 (69)
Amount............ $ 5,131 $ (1,951)
GLOBAL TECHNOLOGY FUND:
Class A Shares........... 244 (32)
Amount............ $ 911 $ 948
Class B Shares........... (47) 33
Amount............ $ (136) $ 398
Class C Shares........... (220) (657)
Amount............ $ (667) $ (1,969)
Class Y Shares........... 8 (969)
Amount............ $ 34 $ (5,989)
GROWTH AND INCOME FUND:
Class A Shares........... (2,628) 4,190
Amount............ $(21,612) $ 47,839
Class B Shares........... (323) 1,039
Amount............ $ (2,551) $ 11,811
Class C Shares........... (539) (587)
Amount............ $ (4,286) $ (4,321)
Class Y Shares........... 11 35
Amount............ $ 93 $ 364
GROWTH FUND:
Class A Shares........... 559 502
Amount............ $ 6,699 $ 6,608
Class B Shares........... 142 157
Amount............ $ 1,549 $ 1,826
Class C Shares........... 145 137
Amount............ $ 1,596 $ 1,609
Class H Shares........... (245) (495)
Amount............ $ (2,619) $ (5,746)
Class L Shares........... (1,452) (4,046)
Amount............ $(17,290) $(53,347)
Class M Shares........... (185) (175)
Amount............ $ (1,969) $ (1,925)
Class N Shares........... (29) (129)
Amount............ $ (314) $ (1,527)
Class Y Shares........... -- @@
Amount............ $ -- $ 1
GROWTH OPPORTUNITIES
FUND:
Class A Shares........... 91 218
Amount............ $ 1,470 $ 4,143
Class B Shares........... 34 57
Amount............ $ 488 $ 972
Class C Shares........... 10 65
Amount............ $ 153 $ 1,016
Class H Shares........... (251) (291)
Amount............ $ (3,499) $ (4,533)
Class L Shares........... (1,717) (3,984)
Amount............ $(26,993) $(72,239)
Class M Shares........... (104) (89)
Amount............ $ (1,450) $ (1,207)
Class N Shares........... (38) (50)
Amount............ $ (526) $ (840)
</Table>
@@ Due to the presentation of the financial statements in thousands, the number
or shares and/or dollars round to zero.
173
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUND II, INC.
NOTES TO FINANCIAL STATEMENTS -- (CONTINUED)
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
SHARES ISSUED FOR SHARES ISSUED
SHARES SOLD REINVESTED DIVIDENDS SHARES REDEEMED FROM MERGER
---------------------- --------------------- ---------------------- ------------------
2003 2002 2003 2002 2003 2002 2003 2002
-------- ---------- -------- --------- --------- --------- ------ --------
Class Y Shares........... -- @@ -- -- -- -- -- --
Amount............ $ -- $ 1 $ -- $ -- $ -- $ -- $ -- $ --
Class Z Shares........... 39 59 -- 48 (100) (3,218) -- --
Amount............ $ 658 $ 1,299 $ -- $ 983 $ (1,637) $ (70,413) $ -- $ --
HIGH YIELD FUND:
Class A Shares........... 9,488 9,501 698 887 (3,543) (6,676) -- 5,090
Amount............ $ 68,838 $ 74,745 $5,057 $ 6,677 $ (25,612) $ (51,831) $ -- $ 41,430
Class B Shares........... 2,399 2,251 198 270 (975) (1,863) -- 3,935
Amount............ $ 17,483 $ 17,344 $1,431 $ 2,020 $ (7,037) $ (14,165) $ -- $ 31,948
Class C Shares........... 2,701 4,021 186 283 (889) (1,872) -- 337
Amount............ $ 19,773 $ 31,627 $1,344 $ 2,141 $ (6,416) $ (14,323) $ -- $ 2,737
Class Y Shares........... -- 54 -- 9 -- (561) -- --
Amount............ $ -- $ 469 $ -- $ 75 $ -- $ (4,796) $ -- $ --
INCOME FUND:
Class A Shares........... 353 800 25 -- (84) -- -- --
Amount............ $ 3,633 $ 8,000 $ 255 $ -- $ (862) $ -- $ -- $ --
Class B Shares........... 195 100 4 -- (36) -- -- --
Amount............ $ 2,005 $ 1,000 $ 36 $ -- $ (369) $ -- $ -- $ --
Class C Shares........... 227 100 4 -- (10) -- -- --
Amount............ $ 2,343 $ 1,000 $ 40 $ -- $ (104) $ -- $ -- $ --
INFLATION PLUS FUND:
Class A Shares........... 7,362 800 59 -- (740) -- -- --
Amount............ $ 76,173 $ 8,002 $ 605 $ -- $ (7,741) $ -- $ -- $ --
Class B Shares........... 3,806 100 20 -- (158) -- -- --
Amount............ $ 39,520 $ 1,000 $ 214 $ -- $ (1,648) $ -- $ -- $ --
Class C Shares........... 8,263 100 47 -- (409) -- -- --
Amount............ $ 85,666 $ 1,000 $ 487 $ -- $ (4,228) $ -- $ -- $ --
INTERNATIONAL CAPITAL APPRECIATION FUND:
Class A Shares........... 1,116 1,535 1 -- (1,055) (1,201) -- --
Amount............ $ 7,883 $ 11,891 $ 5 $ -- $ (7,444) $ (9,277) $ -- $ --
Class B Shares........... 98 104 -- -- (79) (28) -- --
Amount............ $ 689 $ 840 $ -- $ -- $ (557) $ (219) $ -- $ --
Class C Shares........... 403 277 -- -- (360) (199) -- --
Amount............ $ 2,795 $ 2,073 $ -- $ -- $ (2,520) $ (1,468) $ -- $ --
Class Y Shares........... -- -- @@ -- -- -- -- --
Amount............ $ -- $ -- $ 1 $ -- $ -- $ -- $ -- $ --
INTERNATIONAL OPPORTUNITIES FUND:
Class A Shares........... 17,947 71,750 -- -- (18,375) (72,603) -- 1,418
Amount............ $140,919 $ 672,351 $ -- $ -- $(144,927) $(685,079) $ -- $ 12,538
Class B Shares........... 197 347 -- -- (324) (643) -- 636
Amount............ $ 1,484 $ 3,098 $ -- $ -- $ (2,414) $ (5,676) $ -- $ 5,906
Class C Shares........... 4,782 6,014 -- -- (4,841) (6,399) -- 77
Amount............ $ 36,170 $ 49,239 $ -- $ -- $ (36,713) $ (53,383) $ -- $ 711
Class Y Shares........... 268 1,255 -- -- (227) (2,501) -- --
Amount............ $ 2,115 $ 12,179 $ -- $ -- $ (1,799) $ (25,586) $ -- $ --
INTERNATIONAL SMALL COMPANY FUND:
Class A Shares........... 776 1,081 2 -- (623) (777) -- --
Amount............ $ 6,738 $ 10,260 $ 10 $ -- $ (5,426) $ (7,309) $ -- $ --
Class B Shares........... 22 123 -- -- (9) (43) -- --
Amount............ $ 191 $ 1,160 $ -- $ -- $ (82) $ (386) $ -- $ --
Class C Shares........... 154 86 -- -- (131) (30) -- --
Amount............ $ 1,314 $ 774 $ -- $ -- $ (1,124) $ (247) $ -- $ --
Class Y Shares........... 72 91 1 -- (13) (6) -- --
Amount............ $ 636 $ 827 $ 7 $ -- $ (113) $ (61) $ -- $ --
MIDCAP FUND:
Class A Shares........... 11,843 16,040 -- -- (4,638) (7,584) -- --
Amount............ $188,713 $ 269,742 $ -- $ -- $ (73,122) $(127,935) $ -- $ --
Class B Shares........... 2,723 4,128 -- -- (1,569) (2,799) -- --
Amount............ $ 41,795 $ 67,559 $ -- $ -- $ (23,757) $ (45,504) $ -- $ --
Class C Shares........... 3,603 4,901 -- -- (2,018) (4,256) -- --
Amount............ $ 55,479 $ 80,204 $ -- $ -- $ (30,654) $ (69,945) $ -- $ --
Class Y Shares........... 1,541 1,373 -- -- (296) (2,766) -- --
Amount............ $ 25,251 $ 24,730 $ -- $ -- $ (4,822) $ (48,769) $ -- $ --
<Caption>
NET INCREASE
(DECREASE) OF SHARES
--------------------
2003 2002
-------- --------
Class Y Shares........... -- @@
Amount............ $ -- $ 1
Class Z Shares........... (61) (3,111)
Amount............ $ (979) $(68,131)
HIGH YIELD FUND:
Class A Shares........... 6,643 8,802
Amount............ $ 48,283 $ 71,021
Class B Shares........... 1,622 4,593
Amount............ $ 11,877 $ 37,147
Class C Shares........... 1,998 2,769
Amount............ $ 14,701 $ 22,182
Class Y Shares........... -- (498)
Amount............ $ -- $ (4,252)
INCOME FUND:
Class A Shares........... 294 800
Amount............ $ 3,026 $ 8,000
Class B Shares........... 163 100
Amount............ $ 1,672 $ 1,000
Class C Shares........... 221 100
Amount............ $ 2,279 $ 1,000
INFLATION PLUS FUND:
Class A Shares........... 6,681 800
Amount............ $ 69,037 $ 8,002
Class B Shares........... 3,668 100
Amount............ $ 38,086 $ 1,000
Class C Shares........... 7,901 100
Amount............ $ 81,925 $ 1,000
INTERNATIONAL CAPITAL APP
Class A Shares........... 62 334
Amount............ $ 444 $ 2,614
Class B Shares........... 19 76
Amount............ $ 132 $ 621
Class C Shares........... 43 78
Amount............ $ 275 $ 605
Class Y Shares........... @@ --
Amount............ $ 1 $ --
INTERNATIONAL OPPORTUNITI
Class A Shares........... (428) 565
Amount............ $ (4,008) $ (190)
Class B Shares........... (127) 340
Amount............ $ (930) $ 3,328
Class C Shares........... (59) (308)
Amount............ $ (543) $ (3,433)
Class Y Shares........... 41 (1,246)
Amount............ $ 316 $(13,407)
INTERNATIONAL SMALL COMPA
Class A Shares........... 155 304
Amount............ $ 1,322 $ 2,951
Class B Shares........... 13 80
Amount............ $ 109 $ 774
Class C Shares........... 23 56
Amount............ $ 190 $ 527
Class Y Shares........... 60 85
Amount............ $ 530 $ 766
MIDCAP FUND:
Class A Shares........... 7,205 8,456
Amount............ $115,591 $141,807
Class B Shares........... 1,154 1,329
Amount............ $ 18,038 $ 22,055
Class C Shares........... 1,585 645
Amount............ $ 24,825 $ 10,259
Class Y Shares........... 1,245 (1,393)
Amount............ $ 20,429 $(24,039)
</Table>
@@ Due to the presentation of the financial statements in thousands, the number
or shares and/or dollars round to zero.
174
- --------------------------------------------------------------------------------
<Table>
<Caption>
SHARES ISSUED FOR SHARES ISSUED
SHARES SOLD REINVESTED DIVIDENDS SHARES REDEEMED FROM MERGER
---------------------- --------------------- ---------------------- ------------------
2003 2002 2003 2002 2003 2002 2003 2002
-------- ---------- -------- --------- --------- --------- ------ --------
MIDCAP VALUE FUND:
Class A Shares........... 1,730 10,353 -- -- (1,432) (2,173) -- --
Amount............ $ 14,670 $ 102,514 $ -- $ -- $ (12,069) $ (19,494) $ -- $ --
Class B Shares........... 551 2,914 -- -- (463) (542) -- --
Amount............ $ 4,630 $ 28,637 $ -- $ -- $ (3,852) $ (4,912) $ -- $ --
Class C Shares........... 565 3,687 -- -- (500) (837) -- --
Amount............ $ 4,765 $ 35,966 $ -- $ -- $ (4,155) $ (7,287) $ -- $ --
Class Y Shares........... -- -- -- -- -- -- -- --
Amount............ $ -- $ -- $ -- $ -- $ -- $ -- $ -- $ --
MONEY MARKET FUND:
Class A Shares........... 266,207 1,017,129 652 2,029 (284,816) (997,122) -- 194,078
Amount............ $266,207 $1,017,129 $ 652 $ 2,029 $(284,816) $(997,122) $ -- $194,078
Class B Shares........... 37,278 109,766 4 204 (41,665) (65,167) -- 5,247
Amount............ $ 37,278 $ 109,766 $ 4 $ 204 $ (41,665) $ (65,167) $ -- $ 5,247
Class C Shares........... 43,550 113,576 3 202 (64,579) (102,381) -- 624
Amount............ $ 43,550 $ 113,576 $ 3 $ 202 $ (64,579) $(102,381) $ -- $ 624
Class Y Shares........... 1,292 12,352 13 123 (2,423) (42,969) -- --
Amount............ $ 1,292 $ 12,352 $ 13 $ 123 $ (2,423) $ (42,969) $ -- $ --
SHORT DURATION FUND:
Class A Shares........... 1,491 800 22 -- (187) -- -- --
Amount............ $ 15,062 $ 8,002 $ 220 $ -- $ (1,893) $ -- $ -- $ --
Class B Shares........... 717 100 5 -- (89) -- -- --
Amount............ $ 7,249 $ 1,000 $ 50 $ -- $ (905) $ -- $ -- $ --
Class C Shares........... 2,102 100 12 -- (202) -- -- --
Amount............ $ 21,220 $ 1,000 $ 126 $ -- $ (2,038) $ -- $ -- $ --
SMALL COMPANY FUND:
Class A Shares........... 1,905 6,686 -- -- (2,326) (6,688) -- --
Amount............ $ 18,639 $ 83,361 $ -- $ -- $ (22,451) $ (81,570) $ -- $ --
Class B Shares........... 197 1,061 -- -- (433) (1,001) -- --
Amount............ $ 1,829 $ 12,844 $ -- $ -- $ (3,974) $ (11,001) $ -- $ --
Class C Shares........... 464 1,185 -- -- (777) (1,518) -- --
Amount............ $ 4,249 $ 14,298 $ -- $ -- $ (7,049) $ (16,980) $ -- $ --
Class Y Shares........... 118 440 -- -- (272) (2,094) -- --
Amount............ $ 1,206 $ 5,800 $ -- $ -- $ (2,589) $ (27,145) $ -- $ --
SMALLCAP GROWTH FUND:
Class A Shares........... 293 357 -- -- (136) (135) -- --
Amount............ $ 4,678 $ 6,601 $ -- $ -- $ (2,189) $ (2,250) $ -- $ --
Class B Shares........... 61 132 -- -- (21) (10) -- --
Amount............ $ 890 $ 2,283 $ -- $ -- $ (307) $ (176) $ -- $ --
Class C Shares........... 49 114 -- -- (12) (14) -- --
Amount............ $ 722 $ 1,948 $ -- $ -- $ (166) $ (194) $ -- $ --
Class H Shares........... 50 149 -- 23 (154) (313) -- --
Amount............ $ 717 $ 2,732 $ -- $ 416 $ (2,203) $ (5,571) $ -- $ --
Class L Shares........... 212 830 -- 103 (568) (1,757) -- --
Amount............ $ 3,330 $ 16,839 $ -- $ 2,032 $ (8,864) $ (34,722) $ -- $ --
Class M Shares........... 50 133 -- 18 (99) (220) -- --
Amount............ $ 721 $ 2,366 $ -- $ 328 $ (1,425) $ (3,773) $ -- $ --
Class N Shares........... 16 40 -- 6 (51) (82) -- --
Amount............ $ 228 $ 728 $ -- $ 116 $ (722) $ (1,470) $ -- $ --
Class Y Shares........... -- @@ -- -- -- -- -- --
Amount............ $ -- $ 1 $ -- $ -- $ -- $ -- $ -- $ --
STOCK FUND:
Class A Shares........... 4,531 18,429 -- -- (7,147) (15,369) -- --
Amount............ $ 62,632 $ 311,199 $ -- $ -- $ (97,917) $(238,440) $ -- $ --
Class B Shares........... 1,070 4,217 -- -- (2,634) (6,336) -- --
Amount............ $ 14,087 $ 68,344 $ -- $ -- $ (34,273) $ (92,861) $ -- $ --
Class C Shares........... 1,405 5,277 -- -- (3,480) (7,933) -- --
Amount............ $ 18,559 $ 85,205 $ -- $ -- $ (45,491) $(117,952) $ -- $ --
Class Y Shares........... 553 986 -- -- (878) (135) -- --
Amount............ $ 7,874 $ 15,761 $ -- $ -- $ (11,697) $ (2,507) $ -- $ --
TAX-FREE CALIFORNIA FUND:
Class A Shares........... 208 800 14 -- (51) -- -- --
Amount............ $ 2,090 $ 8,000 $ 147 $ -- $ (515) $ -- $ -- $ --
<Caption>
NET INCREASE
(DECREASE) OF SHARES
--------------------
2003 2002
-------- --------
MIDCAP VALUE FUND:
Class A Shares........... 298 8,180
Amount............ $ 2,601 $ 83,020
Class B Shares........... 88 2,372
Amount............ $ 778 $ 23,725
Class C Shares........... 65 2,850
Amount............ $ 610 $ 28,679
Class Y Shares........... -- --
Amount............ $ -- $ --
MONEY MARKET FUND:
Class A Shares........... (17,957) 216,114
Amount............ $(17,957) $216,114
Class B Shares........... (4,383) 50,050
Amount............ $ (4,383) $ 50,050
Class C Shares........... (21,026) 12,021
Amount............ $(21,026) $ 12,021
Class Y Shares........... (1,118) (30,494)
Amount............ $ (1,118) $(30,494)
SHORT DURATION FUND:
Class A Shares........... 1,326 800
Amount............ $ 13,389 $ 8,002
Class B Shares........... 633 100
Amount............ $ 6,394 $ 1,000
Class C Shares........... 1,912 100
Amount............ $ 19,308 $ 1,000
SMALL COMPANY FUND:
Class A Shares........... (421) (2)
Amount............ $ (3,812) $ 1,791
Class B Shares........... (236) 60
Amount............ $ (2,145) $ 1,843
Class C Shares........... (313) (333)
Amount............ $ (2,800) $ (2,682)
Class Y Shares........... (154) (1,654)
Amount............ $ (1,383) $(21,345)
SMALLCAP GROWTH FUND:
Class A Shares........... 157 222
Amount............ $ 2,489 $ 4,351
Class B Shares........... 40 122
Amount............ $ 583 $ 2,107
Class C Shares........... 37 100
Amount............ $ 556 $ 1,754
Class H Shares........... (104) (141)
Amount............ $ (1,486) $ (2,423)
Class L Shares........... (356) (824)
Amount............ $ (5,534) $(15,851)
Class M Shares........... (49) (69)
Amount............ $ (704) $ (1,079)
Class N Shares........... (35) (36)
Amount............ $ (494) $ (626)
Class Y Shares........... -- @@
Amount............ $ -- $ 1
STOCK FUND:
Class A Shares........... (2,616) 3,060
Amount............ $(35,285) $ 72,759
Class B Shares........... (1,564) (2,119)
Amount............ $(20,186) $(24,517)
Class C Shares........... (2,075) (2,656)
Amount............ $(26,932) $(32,747)
Class Y Shares........... (325) 851
Amount............ $ (3,823) $ 13,254
TAX-FREE CALIFORNIA FUND:
Class A Shares........... 171 800
Amount............ $ 1,722 $ 8,000
</Table>
@@ Due to the presentation of the financial statements in thousands, the number
or shares and/or dollars round to zero.
175
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUND II, INC.
NOTES TO FINANCIAL STATEMENTS -- (CONTINUED)
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
SHARES ISSUED FOR SHARES ISSUED
SHARES SOLD REINVESTED DIVIDENDS SHARES REDEEMED FROM MERGER
---------------------- --------------------- ---------------------- ------------------
2003 2002 2003 2002 2003 2002 2003 2002
-------- ---------- -------- --------- --------- --------- ------ --------
Class B Shares........... 61 100 2 -- (1) -- -- --
Amount............ $ 618 $ 1,000 $ 17 $ -- $ (5) $ -- $ -- $ --
Class C Shares........... 18 100 1 -- (2) -- -- --
Amount............ $ 178 $ 1,000 $ 13 $ -- $ (20) $ -- $ -- $ --
TAX-FREE MINNESOTA FUND:
Class A Shares........... 131 208 5 2 (34) (12) -- --
Amount............ $ 1,373 $ 2,183 $ 50 $ 16 $ (358) $ (124) $ -- $ --
Class B Shares........... 39 25 1 -- (1) (2) -- --
Amount............ $ 412 $ 258 $ 5 $ 1 $ (7) $ (21) $ -- $ --
Class C Shares........... 10 29 @@ -- (1) -- -- --
Amount............ $ 102 $ 303 $ 5 $ 2 $ (11) $ -- $ -- $ --
Class E Shares........... 19 69 52 76 (103) (274) -- --
Amount............ $ 198 $ 717 $ 548 $ 792 $ (1,087) $ (2,834) $ -- $ --
Class H Shares........... -- -- @@ 2 (21) (52) -- --
Amount............ $ -- $ -- $ 4 $ 19 $ (223) $ (536) $ -- $ --
Class L Shares........... 12 22 6 9 (57) (52) -- --
Amount............ $ 121 $ 219 $ 64 $ 94 $ (596) $ (537) $ -- $ --
Class M Shares........... @@ 3 1 1 (1) (25) -- --
Amount............ @@ $ 34 $ 9 $ 12 $ (15) $ (258) $ -- $ --
Class N Shares........... 1 2 @@ -- @@ (2) -- --
Amount............ $ 12 $ 26 $ 3 $ 3 $ (5) $ (30) $ -- $ --
Class Y Shares........... -- @@ @@ -- -- -- -- --
Amount............ $ -- $ 1 @@ $ -- $ -- $ -- $ -- $ --
TAX-FREE NATIONAL FUND:
Class A Shares........... 1,136 1,189 38 8 (655) (116) -- --
Amount............ $ 12,621 $ 13,321 $ 423 $ 93 $ (7,269) $ (1,304) $ -- $ --
Class B Shares........... 217 380 11 2 (67) (46) -- --
Amount............ $ 2,398 $ 4,241 $ 125 $ 24 $ (746) $ (515) $ -- $ --
Class C Shares........... 393 312 10 1 (123) (35) -- --
Amount............ $ 4,335 $ 3,487 $ 111 $ 19 $ (1,355) $ (396) $ -- $ --
Class E Shares........... 19 64 109 102 (398) (465) -- --
Amount............ $ 212 $ 708 $1,209 $ 1,125 $ (4,421) $ (5,124) $ -- $ --
Class H Shares........... @@ 16 8 7 (28) (185) -- --
Amount............ $ 5 $ 182 $ 83 $ 79 $ (305) $ (2,029) $ -- $ --
Class L Shares........... 23 57 22 21 (29) (143) -- --
Amount............ $ 260 $ 625 $ 241 $ 227 $ (326) $ (1,565) $ -- $ --
Class M Shares........... 1 19 5 4 (9) (40) -- --
Amount............ $ 7 $ 209 $ 53 $ 48 $ (89) $ (445) $ -- $ --
Class N Shares........... 2 18 2 2 (3) (14) -- --
Amount............ $ 23 $ 199 $ 21 $ 18 $ (31) $ (161) $ -- $ --
Class Y Shares........... -- @@ @@ -- -- -- -- --
Amount............ $ -- $ 1 @@ $ -- $ -- $ -- $ -- $ --
TAX-FREE NEW YORK FUND:
Class A Shares........... 5 800 12 -- -- -- -- --
Amount............ $ 50 $ 8,000 $ 123 $ -- $ -- $ -- $ -- $ --
Class B Shares........... 1 100 1 -- -- -- -- --
Amount............ $ 8 $ 1,000 $ 12 $ -- $ -- $ -- $ -- $ --
Class C Shares........... 26 100 1 -- -- -- -- --
Amount............ $ 255 $ 1,000 $ 13 $ -- $ -- $ -- $ -- $ --
TOTAL RETURN BOND FUND:
Class A Shares........... 13,969 41,344 701 741 (10,601) (33,367) -- --
Amount............ $153,471 $ 440,630 $7,663 $ 7,890 $(116,194) $(355,641) $ -- $ --
Class B Shares........... 2,295 6,149 260 277 (1,225) (2,452) -- --
Amount............ $ 25,153 $ 65,306 $2,829 $ 2,942 $ (13,371) $ (25,988) $ -- $ --
Class C Shares........... 2,589 8,311 265 289 (1,687) (4,332) -- --
Amount............ $ 28,468 $ 88,545 $2,896 $ 3,072 $ (18,492) $ (46,166) $ -- $ --
Class Y Shares........... 1,035 2,085 148 191 (183) (2,587) -- --
Amount............ $ 11,476 $ 22,377 $1,631 $ 2,051 $ (2,014) $ (27,678) $ -- $ --
U.S. GOVERNMENT SECURITIES FUND:
Class A Shares........... 8,752 9,877 158 61 (7,573) (2,321) -- --
Amount............ $ 87,033 $ 96,314 $1,570 $ 597 $ (75,248) $ (22,790) $ -- $ --
Class B Shares........... 2,304 4,502 73 25 (951) (535) -- --
Amount............ $ 22,859 $ 43,685 $ 724 $ 245 $ (9,409) $ (5,225) $ -- $ --
<Caption>
NET INCREASE
(DECREASE) OF SHARES
--------------------
2003 2002
-------- --------
Class B Shares........... 62 100
Amount............ $ 630 $ 1,000
Class C Shares........... 17 100
Amount............ $ 171 $ 1,000
TAX-FREE MINNESOTA FUND:
Class A Shares........... 102 198
Amount............ $ 1,065 $ 2,075
Class B Shares........... 39 23
Amount............ $ 410 $ 238
Class C Shares........... 9 29
Amount............ $ 96 $ 305
Class E Shares........... (32) (129)
Amount............ $ (341) $ (1,325)
Class H Shares........... (21) (50)
Amount............ $ (219) $ (517)
Class L Shares........... (39) (21)
Amount............ $ (411) $ (224)
Class M Shares........... -- (21)
Amount............ $ (6) $ (212)
Class N Shares........... 1 @@
Amount............ $ 10 $ (1)
Class Y Shares........... @@ @@
Amount............ @@ $ 1
TAX-FREE NATIONAL FUND:
Class A Shares........... 519 1,081
Amount............ $ 5,775 $ 12,110
Class B Shares........... 161 336
Amount............ $ 1,777 $ 3,750
Class C Shares........... 280 278
Amount............ $ 3,091 $ 3,110
Class E Shares........... (270) (299)
Amount............ $ (3,000) $ (3,291)
Class H Shares........... (20) (162)
Amount............ $ (217) $ (1,768)
Class L Shares........... 16 (65)
Amount............ $ 175 $ (713)
Class M Shares........... (3) (17)
Amount............ $ (29) $ (188)
Class N Shares........... 1 6
Amount............ $ 13 $ 56
Class Y Shares........... @@ @@
Amount............ @@ $ 1
TAX-FREE NEW YORK FUND:
Class A Shares........... 17 800
Amount............ $ 173 $ 8,000
Class B Shares........... 2 100
Amount............ $ 20 $ 1,000
Class C Shares........... 27 100
Amount............ $ 268 $ 1,000
TOTAL RETURN BOND FUND:
Class A Shares........... 4,069 8,718
Amount............ $ 44,940 $ 92,879
Class B Shares........... 1,330 3,974
Amount............ $ 14,611 $ 42,260
Class C Shares........... 1,167 4,268
Amount............ $ 12,872 $ 45,451
Class Y Shares........... 1,000 (311)
Amount............ $ 11,093 $ (3,250)
U.S. GOVERNMENT SECURITIE
Class A Shares........... 1,337 7,617
Amount............ $ 13,355 $ 74,121
Class B Shares........... 1,426 3,992
Amount............ $ 14,174 $ 38,705
</Table>
@@ Due to the presentation of the financial statements in thousands, the number
or shares and/or dollars round to zero.
176
- --------------------------------------------------------------------------------
<Table>
<Caption>
SHARES ISSUED FOR SHARES ISSUED
SHARES SOLD REINVESTED DIVIDENDS SHARES REDEEMED FROM MERGER
---------------------- --------------------- ---------------------- ------------------
2003 2002 2003 2002 2003 2002 2003 2002
-------- ---------- -------- --------- --------- --------- ------ --------
Class C Shares........... 4,117 5,728 53 20 (3,472) (1,610) -- --
Amount............ $ 40,798 $ 55,648 $ 520 $ 199 $ (34,233) $ (15,728) $ -- $ --
Class E Shares........... 165 562 258 531 (1,037) (4,688) -- --
Amount............ $ 1,649 $ 5,375 $2,554 $ 5,069 $ (10,309) $ (44,397) $ -- $ --
Class H Shares........... 21 156 13 29 (165) (354) -- --
Amount............ $ 210 $ 1,495 $ 126 $ 271 $ (1,632) $ (3,383) $ -- $ --
Class L Shares........... 188 3,304 84 170 (462) (3,941) -- --
Amount............ $ 1,872 $ 31,232 $ 834 $ 1,622 $ (4,602) $ (37,337) $ -- $ --
Class M Shares........... 37 183 10 19 (102) (207) -- --
Amount............ $ 366 $ 1,737 $ 97 $ 184 $ (1,009) $ (1,976) $ -- $ --
Class N Shares........... 6 33 3 6 (16) (101) -- --
Amount............ $ 60 $ 315 $ 29 $ 62 $ (164) $ (961) $ -- $ --
Class Y Shares........... -- @@ @@ -- -- -- -- --
Amount............ $ -- $ 1 @@ $ -- $ -- $ -- $ -- $ --
VALUE FUND:
Class A Shares........... 665 3,339 30 8 (599) (916) -- --
Amount............ $ 4,987 $ 30,840 $ 231 $ 78 $ (4,425) $ (7,524) $ -- $ --
Class B Shares........... 118 642 -- 1 (85) (173) -- --
Amount............ $ 874 $ 5,842 $ -- $ 11 $ (627) $ (1,383) $ -- $ --
Class C Shares........... 190 1,019 -- 3 (217) (340) -- --
Amount............ $ 1,422 $ 9,226 $ -- $ 27 $ (1,597) $ (2,813) $ -- $ --
Class Y Shares........... -- -- @@ @@ -- -- -- --
Amount............ $ -- $ -- $ 3 $ 2 $ -- $ -- $ -- $ --
VALUE OPPORTUNITIES FUND:
Class A Shares........... 141 309 -- -- (139) (28) -- --
Amount............ $ 1,326 $ 3,321 $ -- $ -- $ (1,306) $ (267) $ -- $ --
Class B Shares........... 31 63 -- -- (7) (9) -- --
Amount............ $ 277 $ 650 $ -- $ -- $ (65) $ (93) $ -- $ --
Class C Shares........... 29 50 -- -- (9) (1) -- --
Amount............ $ 272 $ 501 $ -- $ -- $ (85) $ (5) $ -- $ --
Class H Shares........... 23 71 -- 49 (66) (167) -- --
Amount............ $ 200 $ 773 $ -- $ 542 $ (577) $ (1,740) $ -- $ --
Class L Shares........... 75 416 -- 160 (217) (784) -- --
Amount............ $ 700 $ 4,918 $ -- $ 1,848 $ (2,004) $ (8,539) $ -- $ --
Class M Shares........... 39 177 -- 52 (73) (227) -- --
Amount............ $ 344 $ 1,988 $ -- $ 576 $ (648) $ (2,338) $ -- $ --
Class N Shares........... 9 23 -- 16 (29) (70) -- --
Amount............ $ 71 $ 263 $ -- $ 183 $ (249) $ (747) $ -- $ --
Class Y Shares........... -- @@ -- -- -- -- -- --
Amount............ $ -- $ 1 $ -- $ -- $ -- $ -- $ -- $ --
<Caption>
NET INCREASE
(DECREASE) OF SHARES
--------------------
2003 2002
-------- --------
Class C Shares........... 698 4,138
Amount............ $ 7,085 $ 40,119
Class E Shares........... (614) (3,595)
Amount............ $ (6,106) $(33,953)
Class H Shares........... (131) (169)
Amount............ $ (1,296) $ (1,617)
Class L Shares........... (190) (467)
Amount............ $ (1,896) $ (4,483)
Class M Shares........... (55) (5)
Amount............ $ (546) $ (55)
Class N Shares........... (7) (62)
Amount............ $ (75) $ (584)
Class Y Shares........... @@ @@
Amount............ @@ $ 1
VALUE FUND:
Class A Shares........... 96 2,431
Amount............ $ 793 $ 23,394
Class B Shares........... 33 470
Amount............ $ 247 $ 4,470
Class C Shares........... (27) 682
Amount............ $ (175) $ 6,440
Class Y Shares........... @@ @@
Amount............ $ 3 $ 2
VALUE OPPORTUNITIES FUND:
Class A Shares........... 2 281
Amount............ $ 20 $ 3,054
Class B Shares........... 24 54
Amount............ $ 212 $ 557
Class C Shares........... 20 49
Amount............ $ 187 $ 496
Class H Shares........... (43) (47)
Amount............ $ (377) $ (425)
Class L Shares........... (142) (208)
Amount............ $ (1,304) $ (1,773)
Class M Shares........... (34) 2
Amount............ $ (304) $ 226
Class N Shares........... (20) (31)
Amount............ $ (178) $ (301)
Class Y Shares........... -- @@
Amount............ $ -- $ 1
</Table>
@@ Due to the presentation of the financial statements in thousands, the number
or shares and/or dollars round to zero.
7. RECLASSIFICATION OF CAPITAL ACCOUNTS: In accordance with American Institute
of Certified Public Accountants Statement of Position 93-2, Determination,
Disclosure, and Financial Statement Presentation of Income, Capital Gain,
and Return of Capital Distributions by Investment Companies, the Funds have
recorded several reclassifications in their capital accounts. These
reclassifications had no impact on the net asset value of the Funds and are
designed generally to present accumulated undistributed (distribution in
excess of) net investment income and realized gain on investments on a tax
basis which is considered to be more informative to the shareholder. The
reclassifications are a result of permanent differences between GAAP and tax
accounting for such items as foreign currency and passive foreign investment
company (PFIC) income classifications, and net operating losses that reduce
capital gain distribution requirements. Adjustments are made to reflect the
impact these items have on current and future distributions to shareholders.
Therefore, the source of the Funds' 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. For the six-month period
ended April 30, 2003, the Funds recorded the following reclassifications to
increase (decrease) the accounts listed below.
<Table>
<Caption>
UNDISTRIBUTED ACCUMULATED
NET INVESTMENT NET REALIZED PAID-IN
INCOME GAIN (LOSS) CAPITAL
-------------- ------------ -------
Capital Appreciation
Fund................ $(2,253) $ 1,356 $ 897
Global Health Fund.... 5 (5) --
Global Leaders Fund... (13) (35) 48
Growth Opportunities
Fund................ 6 -- (6)
High Yield Fund....... 420 (14,049) 13,629
Income Fund........... 5 (5) --
International Capital
Appreciation Fund... (1) 1 --
International
Opportunities
Fund................ (10) 10 --
</Table>
177
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUND II, INC.
NOTES TO FINANCIAL STATEMENTS -- (CONTINUED)
APRIL 30, 2003 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
UNDISTRIBUTED ACCUMULATED
NET INVESTMENT NET REALIZED PAID-IN
INCOME GAIN (LOSS) CAPITAL
-------------- ------------ -------
International Small
Company Fund........ -- (1) 1
MidCap Fund........... 4 (4) --
Small Company Fund.... (1) 1 --
Total Return Bond
Fund................ 3,248 (3,248) --
</Table>
During the year ended October 31, 2002, the Global Technology Fund, the
International Opportunities Fund, the Small Company Fund and the MidCap Fund
realized ($925), ($547), $2,151 and $3,125, respectively, of net capital
gain (loss) resulting from in-kind redemptions, in which shareholders
exchanged Fund shares for securities held by the Fund rather than for cash.
Any gains/losses have been reclassified from accumulated net realized
gains/losses to paid in capital.
8. CAPITAL LOSS CARRY FORWARDS: As of October 31, 2002 (tax year-end), the
following Funds had capital loss carry forwards for U.S. federal income tax
purposes of approximately:
<Table>
<Caption>
YEAR OF
FUND AMOUNT EXPIRATION
- ---- ------- ----------
Advisers Fund......................... 245,371 2009-2010
Capital Appreciation Fund............. 689,670 2009-2010
Dividend and Growth Fund.............. 7,376 2010
Focus Fund............................ 15,785 2009-2010
Global Communications Fund............ 6,987 2009-2010
Global Financial Services Fund........ 1,944 2009-2010
Global Leaders Fund................... 222,836 2009-2010
Global Technology Fund................ 70,335 2009-2010
Growth and Income Fund................ 102,901 2009-2010
Growth Fund........................... 80,330 2009-2010
Growth Opportunities Fund............. 217,809 2009
High Yield Fund....................... 58,064 2007-2010
International Capital Appreciation
Fund................................ 1,800 2009-2010
International Opportunities Fund...... 55,536 2009-2010
International Small Company Fund...... 405 2009-2010
MidCap Fund........................... 130,031 2009-2010
MidCap Value Fund..................... 2,174 2009-2010
Small Company Fund.................... 132,354 2009-2010
SmallCap Growth Fund.................. 80,758 2009-2010
Stock Fund............................ 374,519 2009-2010
U.S. Government Securities Fund....... 28,421 2003-2008
Value................................. 4,079 2010
Value Opportunities Fund.............. 8,600 2009-2010
</Table>
In accordance with Section 382 of the Internal Revenue Code, utilization of
all or a portion of the above capital loss carry forwards (acquired via
merger) is limited on an annual basis in the amounts as follows:
<Table>
<Caption>
ANNUAL
ACQUIRING FUND LIMITATION
-------------- ----------
High Yield Fund............................... $3,813
International Opportunities Fund.............. 960
</Table>
9. LINE OF CREDIT: The Funds participate in a $550,000 committed revolving line
of credit facility. The facility is to be used for temporary or emergency
purposes. Under the arrangement, the Funds are 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, which has not been utilized. As of April 30, 2003, the Funds did
not have any borrowings under this facility.
10. FUND MERGERS: Effective with the close of business on February 15, 2002, the
shareholders approved the following fund mergers:
Fortis Asset Allocation Portfolio merged into The Hartford Advisers Fund
Fortis Global Growth Portfolio merged into The Hartford Global Leaders Fund
Fortis Growth & Income Fund merged into The Hartford Growth and Income Fund
Fortis High Yield Portfolio merged into The Hartford High Yield Fund
Fortis International Equity Portfolio merged into The Hartford International
Opportunities Fund
Fortis Money Fund merged into The Hartford Money Market Fund
Fortis Class A and Z were merged into Hartford Class A, Fortis Classes B and
H were merged into Hartford Class B and Fortis Class C was merged into
Hartford Class C.
The mergers were accomplished by tax-free exchanges as detailed below:
<Table>
<Caption>
ADVISERS FUND CLASS A/Z CLASS B/H CLASS C CLASS Y
------------- ---------- --------- -------- -------
Fortis Asset
Allocation shares
exchanged.......... 10,445 4,097 747
Hartford Advisers
shares issued...... 10,210 4,011 721
Net assets of Fortis
Asset Allocation on
February 15, 2002.. $ 149,372 $ 58,085 $ 10,535
Net assets of
Hartford Advisers
immediately before
the merger......... $1,193,698 $654,672 $508,986 $1,445
Combined net
assets............. $1,343,070 $712,757 $519,521 $1,445
</Table>
<Table>
<Caption>
GLOBAL LEADERS FUND CLASS A CLASS B CLASS C CLASS Y
------------------- -------- ------- -------- -------
Fortis Global Growth
Fund shares
exchanged............. 4,773 1,659 215
Hartford Global Leaders
shares issued......... 6,063 2,012 262
Net assets of Fortis
Global Growth Fund on
February 15, 2002..... $ 81,253 $26,325 $ 3,427
Net assets of Hartford
Global Leaders
immediately before the
merger................ $261,919 $65,618 $104,332 $1
Combined net assets..... $343,172 $91,943 $107,759 $1
</Table>
178
- --------------------------------------------------------------------------------
<Table>
<Caption>
GROWTH AND INCOME FUND CLASS A CLASS B CLASS C CLASS Y
---------------------- -------- ------- ------- -------
Fortis Growth & Income
shares exchanged....... 1,696 1,043 155
Hartford Growth and
Income shares issued... 1,945 1,206 179
Net assets of Fortis
Growth & Income on
February 15, 2002...... $ 20,626 $12,446 $ 1,856
Net assets of Hartford
Growth & Income
immediately before the
merger................. $267,115 $46,629 $63,400 $528
Combined net assets...... $287,741 $59,075 $65,256 $528
</Table>
<Table>
<Caption>
HIGH YIELD FUND CLASS A CLASS B CLASS C CLASS Y
--------------- ------- ------- ------- -------
Fortis High Yield shares
exchanged............... 8,797 6,779 581
Hartford High Yield shares
issued.................. 5,090 3,935 337
Net assets of Fortis High
Yield on February 15,
2002.................... $41,430 $31,948 $ 2,737
Net assets of Hartford
High Yield immediately
before the merger....... $56,149 $18,466 $33,142 $1
Combined net assets....... $97,579 $50,414 $35,879 $1
</Table>
<Table>
<Caption>
INTERNATIONAL OPPORTUNITIES FUND CLASS A CLASS B CLASS C CLASS Y
-------------------------------- ------- ------- ------- -------
Fortis International Equity
shares exchanged........... 912 439 53
Hartford International
Opportunities shares issued.. 1,299 635 77
Net assets of Fortis
International Equity on
February 15, 2002.......... $12,538 $ 5,906 $ 711
Net assets of Hartford
International Opportunities
immediately before the
merger..................... $77,338 $18,688 $17,707 $5,426
Combined net assets.......... $89,876 $24,594 $18,418 $5,426
</Table>
<Table>
<Caption>
MONEY MARKET FUND CLASS A CLASS B/H CLASS C CLASS Y
----------------- -------- --------- ------- -------
Fortis Money Fund
shares exchanged..... 194,078 5,247 624
Hartford Money Market
shares issued........ 194,078 5,247 624
Net assets of Fortis
Money Fund on
February 15, 2002.... $194,078 $ 5,247 $ 624
Net assets of Hartford
Money Market
immediately before
the merger........... $ 93,806 $44,287 $50,627 $804
Combined net assets.... $287,884 $49,534 $51,251 $804
</Table>
The Fortis Asset Allocation Portfolio, Fortis Global Growth Fund, Fortis
Growth & Income Fund, Fortis High Yield Fund, Fortis International Equity
Fund and Fortis Money Fund had unrealized appreciation (depreciation),
accumulated net realized gains (losses) and capital stock as follows:
<Table>
<Caption>
UNREALIZED ACCUMULATED
APPRECIATION NET REALIZED CAPITAL
FUND (DEPRECATION) GAINS (LOSSES) STOCK
---- ------------- -------------- -------
Fortis Asset Allocation
Fund................. (8,150) (2,713) 228,855
Fortis Global Growth
Fund................. 3,855 (616) 107,766
Fortis Growth & Income
Fund................. (670) (1,119) 36,717
Fortis High Yield
Fund................. (25,055) (60,942) 162,112
Fortis International
Equity Fund.......... (570) (7,152) 26,877
Fortis Money Fund...... -- -- 199,949
</Table>
11. CHANGE OF AUDITORS: On April 30, 2002 and August 1, 2002, the Board of
Directors dismissed Arthur Anderson LLP and KPMG LLP as the Funds'
independent auditors, and appointed Ernst & Young LLP for the fiscal year
ending October 31, 2002. During the two most recent fiscal years October 31,
2001 and prior, the audit reports of Arthur Anderson LLP and KPMG LLP
contained no adverse opinion or disclaimer of opinion; nor were the reports
qualified or modified as to uncertainty, audit scope, or accounting
principles. Further, there were no disagreements with Arthur Anderson LLP or
KPMG LLP on any matter of accounting principles or practices, financial
statement disclosure or auditing scope or procedure, which disagreements, if
not resolved to the satisfaction of Arthur Anderson LLP or KPMG LLP would
have caused them to make reference to the subject matter of the
disagreements in connection with their reports on the financial statements
for such years, and there were no "reportable events" of the kind described
in Item 304(a)(1)(v) of Regulation S-K under the Securities Exchange Act of
1934, as amended.
179
HARTFORD MUTUAL FUNDS, INC. AND HARTFORD MUTUAL FUNDS II, INC.
FINANCIAL HIGHLIGHTS
- --------------------------------------------------------------------------------
<Table>
<Caption>
SELECTED PER-SHARE DATA(a)
----------------------------------------------------------------------------------
NET REALIZED
AND DISTRIBUTIONS
NET ASSET NET UNREALIZED DIVIDENDS FROM
VALUE AT INVESTMENT GAIN FROM NET REALIZED DISTRIBUTIONS
BEGINNING INCOME (LOSS) ON INVESTMENT CAPITAL FROM
OF PERIOD (LOSS) INVESTMENTS INCOME GAINS CAPITAL
--------- ---------- ------------ ---------- ------------- -------------
THE HARTFORD ADVISERS FUND
For the Six-Month Period
Ended April 30, 2003(g)
Class A...................... 12.67 0.11 0.37 (0.10) -- --
Class B...................... 12.54 0.06 0.38 (0.06) -- --
Class C...................... 12.66 0.07 0.37 (0.06) -- --
Class Y...................... 12.82 0.14 0.38 (0.13) -- --
For the Year Ended October
31, 2002(g)
Class A...................... 14.38 0.21 (1.69) (0.23) -- --
Class B...................... 14.24 0.11 (1.68) (0.13) -- --
Class C...................... 14.37 0.12 (1.69) (0.14) --
Class Y...................... 14.54 0.13 (1.55) (0.30) -- --
For the Year Ended October
31, 2001
Class A...................... 17.07 0.30 (2.04) (0.31) (0.64) --
Class B...................... 16.90 0.20 (2.03) (0.19) (0.64) --
Class C...................... 17.05 0.20 (2.04) (0.20) (0.64) --
Class Y...................... 17.24 0.38 (2.06) (0.38) (0.64) --
For the Ten Months Ended
October 31, 2000
Class A...................... 17.02 0.24 0.19 (0.22) (0.16) --
Class B...................... 16.87 0.15 0.17 (0.13) (0.16) --
Class C...................... 17.02 0.15 0.17 (0.13) (0.16) --
Class Y...................... 17.16 0.33 0.16 (0.25) (0.16) --
For the Year Ended December
31, 1999
Class A...................... 15.71 0.27 1.60 (0.25) (0.31) --
Class B...................... 15.59 0.16 1.58 (0.15) (0.31) --
Class C...................... 15.73(f) 0.17(f) 1.58(f) (0.15)(f) (0.31)(f) --
Class Y...................... 15.80 0.35 1.61 (0.29) (0.31) --
For the Year Ended December
31, 1998
Class A...................... 13.41 0.23 2.58 (0.25) (0.26) --
Class B...................... 13.33 0.15 2.54 (0.17) (0.26) --
Class Y...................... 13.46 0.29 2.59 (0.28) (0.26) --
From inception August 1,
1998, through December 31,
1998
Class C...................... 15.56(f) 0.16(f) 0.63(f) (0.22)(f) (0.40)(f) --
For the Year Ended December
31, 1997
Class A...................... 11.08 0.16 2.41 (0.17) (0.07) --
Class B...................... 11.05 0.16 2.31 (0.12) (0.07) --
Class Y...................... 11.10 0.31 2.32 (0.20) (0.07) --
<Caption>
RATIOS AND SUPPLEMENTAL DATA
------------------------------------------------------------------------------------------
RATIO OF RATIO OF RATIO OF
EXPENSES EXPENSES NET
NET ASSET NET ASSETS TO AVERAGE TO AVERAGE INVESTMENT
VALUE AT AT END OF NET ASSETS NET ASSETS INCOME PORTFOLIO
END OF TOTAL PERIOD BEFORE AFTER TO AVERAGE TURNOVER
PERIOD RETURN(C) (000'S) WAIVERS WAIVERS NET ASSETS RATE(E)
--------- --------- ---------- ---------- ---------- ---------- ---------
THE HARTFORD ADVISERS FUND
For the Six-Month Period
Ended April 30, 2003(g)
Class A...................... 13.05 3.82(d) 1,308,459 1.46(b) 1.41(b) 1.72(b) 26%
Class B...................... 12.92 3.50(d) 556,133 2.16(b) 2.12(b) 1.00(b) --
Class C...................... 13.04 3.51(d) 406,590 2.04(b) 2.04(b) 1.08(b) --
Class Y...................... 13.21 4.11(d) 5,970 0.88(b) 0.88(b) 2.24(b) --
For the Year Ended October
31, 2002(g)
Class A...................... 12.67 (10.42) 1,245,331 1.41 1.36 1.56 44
Class B...................... 12.54 (11.11) 567,953 2.08 2.08 0.84 --
Class C...................... 12.66 (10.99) 422,520 1.97 1.97 0.95 --
Class Y...................... 12.82 (9.89) 3,997 0.78 0.78 2.15 --
For the Year Ended October
31, 2001
Class A...................... 14.38 (10.67) 1,088,858 1.27 1.22 1.99 37
Class B...................... 14.24 (11.27) 622,519 1.93 1.93 1.28 --
Class C...................... 14.37 (11.26) 478,194 1.93 1.93 1.28 --
Class Y...................... 14.54 (10.20) 56,320 0.74 0.74 2.48 --
For the Ten Months Ended
October 31, 2000
Class A...................... 17.07 2.52(d) 893,954 1.26(b) 1.21(b) 1.76(b) 38
Class B...................... 16.90 1.89(d) 631,930 1.92(b) 1.92(b) 1.05(b) --
Class C...................... 17.05 1.89(d) 432,171 1.92(b) 1.92(b) 1.05(b) --
Class Y...................... 17.24 2.90(d) 64,889 0.75(b) 0.75(b) 2.22(b) --
For the Year Ended December
31, 1999
Class A...................... 17.02 12.08 693,136 1.31 1.26 1.72 35
Class B...................... 16.87 11.29 555,338 1.97 1.97 1.00 --
Class C...................... 17.02(f) 11.29 323,631 1.99 1.99 0.99 --
Class Y...................... 17.16 12.62 68,133 0.79 0.79 2.18 --
For the Year Ended December
31, 1998
Class A...................... 15.71 21.09 316,435 1.43 1.38 1.67 40
Class B...................... 15.59 20.27 237,959 2.11 2.10 0.98 --
Class Y...................... 15.80 21.62 57,891 0.90 0.90 2.09 --
From inception August 1,
1998, through December 31,
1998
Class C...................... 15.73(f) 5.25(d) 54,907 2.18(b) 2.10(b) 1.06(b) --
For the Year Ended December
31, 1997
Class A...................... 13.41 23.30 98,633 1.60 1.40 1.54 39
Class B...................... 13.33 22.44 39,334 2.31 2.10 0.80 --
Class Y...................... 13.46 23.80 39,773 1.03 0.95 2.08 --
</Table>
- ---------------
(a) Information presented relates to a share of capital share outstanding
throughout the indicated period.
(b) Annualized.
(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) Not annualized.
(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 restated to reflect a reverse stock split for
Class C shares effective February 11, 1999.
(g) Per share amounts have been calculated using average shares outstanding
method.
See Notes to Financial Statements.
180
- --------------------------------------------------------------------------------
<Table>
<Caption>
SELECTED PER-SHARE DATA(a)
----------------------------------------------------------------------------------
NET REALIZED
AND DISTRIBUTIONS
NET ASSET NET UNREALIZED DIVIDENDS FROM
VALUE AT INVESTMENT GAIN FROM NET REALIZED DISTRIBUTIONS
BEGINNING INCOME (LOSS) ON INVESTMENT CAPITAL FROM
OF PERIOD (LOSS) INVESTMENTS INCOME GAINS CAPITAL
--------- ---------- ------------ ---------- ------------- -------------
THE HARTFORD CAPITAL
APPRECIATION FUND
For the Six-Month Period
Ended April 30, 2003
Class A...................... 20.47 (0.02) 0.69 -- -- --
Class B...................... 19.44 (0.09) 0.65 -- -- --
Class C...................... 19.44 (0.08) 0.65 -- -- --
Class Y...................... 21.23 0.04 0.71 -- -- --
For the Year Ended October
31, 2002(g)
Class A...................... 24.12 (0.06) (3.59) -- -- --
Class B...................... 23.06 (0.25) (3.37) -- -- --
Class C...................... 23.04 (0.22) (3.38) -- -- --
Class Y...................... 24.85 0.04 (3.66) -- -- --
For the Year Ended October
31, 2001
Class A...................... 33.20 0.05 (5.12) -- (4.01) --
Class B...................... 32.14 (0.02) (5.05) -- (4.01) --
Class C...................... 32.10 (0.06) (4.99) -- (4.01) --
Class Y...................... 33.94 0.08 (5.16) -- (4.01) --
For the Ten Months Ended
October 31, 2000
Class A...................... 31.72 (0.01) 3.15 -- (1.66) --
Class B...................... 30.92 (0.12) 3.00 -- (1.66) --
Class C...................... 30.89 (0.15) 3.02 -- (1.66) --
Class Y...................... 32.27 0.03 3.30 -- (1.66) --
For the Year Ended December
31, 1999
Class A...................... 20.42 (0.07) 13.28 -- (1.91) --
Class B...................... 20.08 (0.19) 12.94 -- (1.91) --
Class C...................... 20.08(f) (0.12)(f) 12.84(f) -- (1.91)(f) --
Class Y...................... 20.66 -- 13.52 -- (1.91) --
For the Year Ended December
31, 1998
Class A...................... 19.90 (0.10) 0.75 -- (0.13) --
Class B...................... 19.71 (0.21) 0.71 -- (0.13) --
Class Y...................... 20.05 (0.06) 0.80 -- (0.13) --
From inception August 1,
1998, through December 31,
1998
Class C...................... 19.67(f) (0.06)(f) 0.47(f) -- --(f) --
For the Year Ended December
31, 1997
Class A...................... 13.36 (0.03) 7.34 -- (0.77) --
Class B...................... 13.32 (0.06) 7.22 -- (0.77) --
Class Y...................... 13.38 (0.03) 7.47 -- (0.77) --
<Caption>
RATIOS AND SUPPLEMENTAL DATA
------------------------------------------------------------------------------------------
RATIO OF RATIO OF RATIO OF
EXPENSES EXPENSES NET
NET ASSET NET ASSETS TO AVERAGE TO AVERAGE INVESTMENT
VALUE AT AT END OF NET ASSETS NET ASSETS INCOME PORTFOLIO
END OF TOTAL PERIOD BEFORE AFTER TO AVERAGE TURNOVER
PERIOD RETURN(C) (000'S) WAIVERS WAIVERS NET ASSETS RATE(E)
--------- --------- ---------- ---------- ---------- ---------- ---------
THE HARTFORD CAPITAL
APPRECIATION FUND
For the Six-Month Period
Ended April 30, 2003
Class A...................... 21.14 3.27(d) 1,747,542 1.50(b) 1.46(b) (0.09)(b) 53
Class B...................... 20.00 2.88(d) 892,612 2.21(b) 2.18(b) (0.80)(b) --
Class C...................... 20.01 2.93(d) 747,777 2.08(b) 2.08(b) (0.71)(b) --
Class Y...................... 21.98 3.53(d) 32,319 0.88(b) 0.88(b) 0.53(b) --
For the Year Ended October
31, 2002(g)
Class A...................... 20.47 (15.13) 1,700,765 1.45 1.40 (0.28) 112
Class B...................... 19.44 (15.70) 884,553 2.14 2.14 (1.04) --
Class C...................... 19.44 (15.62) 738,988 2.02 2.02 (0.92) --
Class Y...................... 21.23 (14.57) 25,378 0.80 0.80 0.27 --
For the Year Ended October
31, 2001
Class A...................... 24.12 (17.24) 1,585,508 1.33 1.28 (0.22) 132
Class B...................... 23.06 (17.88) 876,826 1.99 1.99 (0.93) --
Class C...................... 23.04 (17.84) 666,372 1.99 1.99 (0.93) --
Class Y...................... 24.85 (16.85) 76,592 0.78 0.78 0.28 --
For the Ten Months Ended
October 31, 2000
Class A...................... 33.20 10.18(d) 1,309,836 1.32(b) 1.27(b) (0.42)(b) 130
Class B...................... 32.14 9.59(d) 826,495 1.97(b) 1.97(b) (1.12)(b) --
Class C...................... 32.10 9.56(d) 494,391 1.99(b) 1.99(b) (1.14)(b) --
Class Y...................... 33.94 10.60(d) 89,477 0.80(b) 0.80(b) 0.05(b) --
For the Year Ended December
31, 1999
Class A...................... 31.72 66.76 797,656 1.38 1.33 (0.61) 169
Class B...................... 30.92 65.58 569,201 2.02 2.02 (1.31) --
Class C...................... 30.89(f) 65.44 191,466 2.09 2.09 (1.37) --
Class Y...................... 32.27 67.49 64,688 0.87 0.87 (0.16) --
For the Year Ended December
31, 1998
Class A...................... 20.42 3.26 364,951 1.49 1.44 (0.70) 123
Class B...................... 20.08 2.52 290,756 2.15 2.15 (1.39) --
Class Y...................... 20.66 3.68 27,700 0.96 0.96 (0.27) --
From inception August 1,
1998, through December 31,
1998
Class C...................... 20.08(f) 2.10(d) 15,231 2.29(b) 2.15(b) (1.34)(b) --
For the Year Ended December
31, 1997
Class A...................... 19.90 55.11 233,601 1.69 1.45 (0.80) 120
Class B...................... 19.71 54.15 174,392 2.38 2.15 (1.46) --
Class Y...................... 20.05 56.00 26,693 1.13 1.00 (0.35) --
</Table>
- ---------------
(a) Information presented relates to a share of capital share outstanding
throughout the indicated period.
(b) Annualized.
(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) Not annualized.
(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 restated to reflect a reverse stock split for
Class C shares effective February 11, 1999.
(g) Per share amounts have been calculated using average shares outstanding
method.
181
HARTFORD MUTUAL FUNDS, INC. AND HARTFORD MUTUAL FUNDS II, INC.
FINANCIAL HIGHLIGHTS -- (CONTINUED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
SELECTED PER-SHARE DATA(a)
----------------------------------------------------------------------------------
NET REALIZED
AND DISTRIBUTIONS
NET ASSET NET UNREALIZED DIVIDENDS FROM
VALUE AT INVESTMENT GAIN FROM NET REALIZED DISTRIBUTIONS
BEGINNING INCOME (LOSS) ON INVESTMENT CAPITAL FROM
OF PERIOD (LOSS) INVESTMENTS INCOME GAINS CAPITAL
--------- ---------- ------------ ---------- ------------- -------------
THE HARTFORD DIVIDEND AND
GROWTH FUND
For the Six-Month Period
Ended April 30, 2003
Class A...................... 13.58 0.07 0.40 (0.06) -- --
Class B...................... 13.43 0.02 0.40 (0.02) -- --
Class C...................... 13.40 0.03 0.39 (0.02) -- --
Class Y...................... 13.73 0.09 0.42 (0.09) -- --
For the Year Ended October
31, 2002(g)
Class A...................... 15.53 0.12 (1.71) (0.12) (0.24) --
Class B...................... 15.37 0.02 (1.70) (0.02) (0.24) --
Class C...................... 15.33 0.03 (1.69) (0.03) (0.24) --
Class Y...................... 15.71 0.12 (1.65) (0.21) (0.24) --
For the Year Ended October
31, 2001
Class A...................... 17.78 0.18 (1.49) (0.17) (0.77) --
Class B...................... 17.60 0.07 (1.48) (0.05) (0.77) --
Class C...................... 17.57 0.08 (1.48) (0.07) (0.77) --
Class Y...................... 17.96 0.25 (1.48) (0.25) (0.77) --
For the Ten Months Ended
October 31, 2000
Class A...................... 16.85 0.15 0.98 (0.12) (0.08) --
Class B...................... 16.69 0.04 0.99 (0.04) (0.08) --
Class C...................... 16.67 0.07 0.95 (0.04) (0.08) --
Class Y...................... 16.96 0.22 1.02 (0.16) (0.08) --
For the Year Ended December
31, 1999
Class A...................... 16.62 0.15 0.60 (0.17) (0.35) --
Class B...................... 16.47 0.04 0.58 (0.05) (0.35) --
Class C...................... 16.48(f) 0.04(f) 0.58(f) (0.08)(f) (0.35)(f) --
Class Y...................... 16.69 0.21 0.63 (0.22) (0.35) --
For the Year Ended December
31, 1998
Class A...................... 14.72 0.15 1.97 (0.15) (0.07) --
Class B...................... 14.61 0.06 1.92 (0.05) (0.07) --
Class Y...................... 14.77 0.24 1.94 (0.19) (0.07) --
From inception August 1,
1998, through December 31,
1998
Class C...................... 15.94(f) 0.05(f) 0.70(f) (0.10)(f) (0.11)(f) --
For the Year Ended December
31, 1997
Class A...................... 11.45 0.13 3.40 (0.12) (0.14) --
Class B...................... 11.40 0.13 3.30 (0.08) (0.14) --
Class Y...................... 11.46 0.21 3.39 (0.15) (0.14) --
THE HARTFORD FOCUS FUND
For the Six-Month Period
Ended April 30, 2003
Class A...................... 7.32 -- 0.33 -- -- --
Class B...................... 7.25 (0.03) 0.33 -- -- --
Class C...................... 7.24 (0.03) 0.33 -- -- --
Class Y...................... 7.37 0.01 0.34 -- -- --
For the Year Ended October
31, 2002(g)
Class A...................... 8.82 (0.05) (1.45) -- -- --
Class B...................... 8.79 (0.12) (1.42) -- -- --
Class C...................... 8.79 (0.12) (1.43) -- -- --
Class Y...................... 8.83 -- (1.46) -- -- --
From inception May 24, 2001,
through October 31, 2001
Class A...................... 10.00 (0.01) (1.17) -- -- --
Class B...................... 10.00 (0.03) (1.18) -- -- --
Class C...................... 10.00 (0.04) (1.17) -- -- --
Class Y...................... 10.00 0.01 (1.18) -- -- --
<Caption>
RATIOS AND SUPPLEMENTAL DATA
------------------------------------------------------------------------------------------
RATIO OF RATIO OF RATIO OF
EXPENSES EXPENSES NET
NET ASSET NET ASSETS TO AVERAGE TO AVERAGE INVESTMENT
VALUE AT AT END OF NET ASSETS NET ASSETS INCOME PORTFOLIO
END OF TOTAL PERIOD BEFORE AFTER TO AVERAGE TURNOVER
PERIOD RETURN(C) (000'S) WAIVERS WAIVERS NET ASSETS RATE(E)
--------- --------- ---------- ---------- ---------- ---------- ---------
THE HARTFORD DIVIDEND AND
GROWTH FUND
For the Six-Month Period
Ended April 30, 2003
Class A...................... 13.99 3.46(d) 976,132 1.47(b) 1.41(b) 1.05(b) 16
Class B...................... 13.83 3.10(d) 205,360 2.18(b) 2.13(b) 0.33(b) --
Class C...................... 13.80 3.13(d) 184,904 2.05(b) 2.05(b) 0.41(b) --
Class Y...................... 14.15 3.74(d) 24,273 0.84(b) 0.84(b) 1.63(b) --
For the Year Ended October
31, 2002(g)
Class A...................... 13.58 (10.64) 808,633 1.46 1.40 0.78 33
Class B...................... 13.43 (11.15) 185,731 2.13 2.10 0.08 --
Class C...................... 13.40 (11.08) 164,260 2.02 2.02 0.15 --
Class Y...................... 13.73 (10.00) 14,790 0.82 0.82 1.36 --
For the Year Ended October
31, 2001
Class A...................... 15.53 (7.67) 521,543 1.36 1.31 1.06 55
Class B...................... 15.37 (8.34) 150,592 2.03 2.03 0.34 --
Class C...................... 15.33 (8.33) 117,108 2.03 2.03 0.35 --
Class Y...................... 15.71 (7.20) 26,326 0.82 0.82 1.55 --
For the Ten Months Ended
October 31, 2000
Class A...................... 17.78 6.77(d) 294,903 1.36(b) 1.31(b) 0.99(b) 56
Class B...................... 17.60 6.17(d) 118,936 2.03(b) 2.03(b) 0.27(b) --
Class C...................... 17.57 6.17(d) 63,503 2.03(b) 2.03(b) 0.27(b) --
Class Y...................... 17.96 7.37(d) 22,441 0.85(b) 0.85(b) 1.45(b) --
For the Year Ended December
31, 1999
Class A...................... 16.85 4.57 242,054 1.38 1.33 0.94 50
Class B...................... 16.69 3.82 121,977 2.02 2.02 0.25 --
Class C...................... 16.67(f) 3.76 42,869 2.07 2.07 0.21 --
Class Y...................... 16.96 5.10 23,616 0.87 0.87 1.42 --
For the Year Ended December
31, 1998
Class A...................... 16.62 14.47 182,495 1.43 1.38 1.08 46
Class B...................... 16.47 13.62 108,344 2.10 2.10 0.39 --
Class Y...................... 16.69 14.86 17,098 0.91 0.91 1.53 --
From inception August 1,
1998, through December 31,
1998
Class C...................... 16.48(f) 4.82(d) 9,682 2.20(b) 2.10(b) 0.23(b) --
For the Year Ended December
31, 1997
Class A...................... 14.72 30.99 67,861 1.64 1.40 1.42 29
Class B...................... 14.61 30.20 33,730 2.34 2.10 0.69 --
Class Y...................... 14.77 31.59 13,236 1.09 0.95 1.83 --
THE HARTFORD FOCUS FUND
For the Six-Month Period
Ended April 30, 2003
Class A...................... 7.65 4.51(d) 63,371 1.82(b) 1.65(b) (0.12)(b) 94
Class B...................... 7.55 4.14(d) 18,649 2.52(b) 2.35(b) (0.82)(b) --
Class C...................... 7.54 4.14(d) 23,998 2.39(b) 2.35(b) (0.81)(b) --
Class Y...................... 7.72 4.75(d) 634 1.17(b) 1.17(b) 0.35(b) --
For the Year Ended October
31, 2002(g)
Class A...................... 7.32 (17.01) 66,432 1.76 1.65 (0.53) 215
Class B...................... 7.25 (17.52) 18,862 2.43 2.35 (1.23) --
Class C...................... 7.24 (17.63) 25,847 2.34 2.34 (1.22) --
Class Y...................... 7.37 (16.54) 509 1.14 1.14 0.09 --
From inception May 24, 2001,
through October 31, 2001
Class A...................... 8.82 (11.80)(d) 66,970 1.68(b) 1.63(b) (0.18)(b) 109
Class B...................... 8.79 (12.10)(d) 18,524 2.35(b) 2.35(b) (0.89)(b) --
Class C...................... 8.79 (12.10)(d) 24,142 2.35(b) 2.35(b) (0.89)(b) --
Class Y...................... 8.83 (11.70)(d) 9 1.20(b) 1.20(b) 0.25(b) --
</Table>
- ---------------
(a) Information presented relates to a share of capital share outstanding
throughout the indicated period.
(b) Annualized.
(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) Not annualized.
(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 restated to reflect a reverse stock split for
Class C shares effective February 11, 1999.
(g) Per share amounts have been calculated using average shares outstanding
method.
See Notes to Financial Statements.
182
- --------------------------------------------------------------------------------
<Table>
<Caption>
SELECTED PER-SHARE DATA(A)
----------------------------------------------------------------------------------
NET REALIZED
AND DISTRIBUTIONS
NET ASSET NET UNREALIZED DIVIDENDS FROM
VALUE AT INVESTMENT GAIN FROM NET REALIZED DISTRIBUTIONS
BEGINNING INCOME (LOSS) ON INVESTMENT CAPITAL FROM
OF PERIOD (LOSS) INVESTMENTS INCOME GAINS CAPITAL
--------- ---------- ------------ ---------- ------------- -------------
THE HARTFORD GLOBAL
COMMUNICATIONS FUND
For the Six-Month Period
Ended April 30, 2003
Class A...................... 3.24 -- 0.34 -- -- --
Class B...................... 3.19 (0.01) 0.34 -- -- --
Class C...................... 3.19 (0.01) 0.34 -- -- --
Class Y...................... 3.26 0.01 0.35 -- -- --
For the Year Ended October
31, 2002(g)
Class A...................... 4.57 -- (1.33) -- -- --
Class B...................... 4.54 (0.04) (1.31) -- -- --
Class C...................... 4.54 (0.04) (1.31) -- -- --
Class Y...................... 4.60 -- (1.34) -- -- --
For the Year Ended October
31, 2001
Class A...................... 10.00 (0.02) (5.41) -- -- --
Class B...................... 10.00 (0.05) (5.41) -- -- --
Class C...................... 10.00 (0.05) (5.41) -- -- --
Class Y...................... 10.00 -- (5.40) -- -- --
THE HARTFORD GLOBAL FINANCIAL
SERVICES FUND
For the Six-Month Period
Ended April 30, 2003
Class A...................... 8.03 0.04 0.10 (0.04) -- --
Class B...................... 7.92 0.01 0.09 -- -- --
Class C...................... 7.92 0.01 0.10 -- -- --
Class Y...................... 8.10 0.06 0.10 (0.08) -- --
For the Year Ended October
31, 2002(g)
Class A...................... 9.37 0.04 (1.38) -- -- --
Class B...................... 9.30 (0.02) (1.36) -- -- --
Class C...................... 9.30 (0.02) (1.36) -- -- --
Class Y...................... 9.41 0.08 (1.39) -- -- --
For the Year Ended October
31, 2001
Class A...................... 10.00 0.02 (0.65) -- -- --
Class B...................... 10.00 (0.03) (0.67) -- -- --
Class C...................... 10.00 (0.03) (0.67) -- -- --
Class Y...................... 10.00 0.07 (0.66) -- -- --
<Caption>
RATIOS AND SUPPLEMENTAL DATA
------------------------------------------------------------------------------------------
RATIO OF RATIO OF RATIO OF
EXPENSES EXPENSES NET
NET ASSET NET ASSETS TO AVERAGE TO AVERAGE INVESTMENT
VALUE AT AT END OF NET ASSETS NET ASSETS INCOME PORTFOLIO
END OF TOTAL PERIOD BEFORE AFTER TO AVERAGE TURNOVER
PERIOD RETURN(C) (000'S) WAIVERS WAIVERS NET ASSETS RATE(E)
--------- --------- ---------- ---------- ---------- ---------- ---------
THE HARTFORD GLOBAL
COMMUNICATIONS FUND
For the Six-Month Period
Ended April 30, 2003
Class A...................... 3.58 10.49(d) 4,277 1.90(b) 1.65(b) 0.01(b) 63
Class B...................... 3.52 10.34(d) 959 2.61(b) 2.35(b) (0.68)(b) --
Class C...................... 3.52 10.34(d) 859 2.49(b) 2.35(b) (0.68)(b) --
Class Y...................... 3.62 11.04(d) 556 1.29(b) 1.20(b) 0.45(b) --
For the Year Ended October
31, 2002(g)
Class A...................... 3.24 (29.10) 3,506 2.03 1.65 (0.10) 84
Class B...................... 3.19 (29.74) 846 2.70 2.35 (0.80) --
Class C...................... 3.19 (29.74) 736 2.57 2.35 (0.78) --
Class Y...................... 3.26 (29.13) 481 1.27 1.20 0.40 --
For the Year Ended October
31, 2001
Class A...................... 4.57 (54.30) 4,050 1.73 1.66 (0.42) 84
Class B...................... 4.54 (54.60) 832 2.46 2.36 (1.12) --
Class C...................... 4.54 (54.60) 875 2.44 2.36 (1.12) --
Class Y...................... 4.60 (54.00) 460 1.20 1.20 0.03 --
THE HARTFORD GLOBAL FINANCIAL
SERVICES FUND
For the Six-Month Period
Ended April 30, 2003
Class A...................... 8.13 1.71(d) 9,872 1.97(b) 1.65(b) 0.92(b) 38
Class B...................... 8.02 1.26(d) 2,806 2.68(b) 2.35(b) 0.23(b) --
Class C...................... 8.03 1.39(d) 2,485 2.54(b) 2.35(b) 0.22(b) --
Class Y...................... 8.18 1.94(d) 1,389 1.32(b) 1.20(b) 1.37(b) --
For the Year Ended October
31, 2002(g)
Class A...................... 8.03 (14.30) 9,739 1.98 1.65 0.51 76
Class B...................... 7.92 (14.84) 2,755 2.68 2.35 (0.20) --
Class C...................... 7.92 (14.84) 2,548 2.54 2.35 (0.20) --
Class Y...................... 8.10 (13.92) 1,435 1.25 1.20 0.96 --
For the Year Ended October
31, 2001
Class A...................... 9.37 (6.30) 9,946 1.89 1.70 0.25 115
Class B...................... 9.30 (7.00) 2,052 2.61 2.40 (0.45) --
Class C...................... 9.30 (7.00) 2,053 2.60 2.40 (0.45) --
Class Y...................... 9.41 (5.90) 941 1.35 1.24 0.70 --
</Table>
- ---------------
(a) Information presented relates to a share of capital share outstanding
throughout the indicated period.
(b) Annualized.
(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) Not annualized.
(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 restated to reflect a reverse stock split for
Class C shares effective February 11, 1999.
(g) Per share amounts have been calculated using average shares outstanding
method.
183
HARTFORD MUTUAL FUNDS, INC. AND HARTFORD MUTUAL FUNDS II, INC.
FINANCIAL HIGHLIGHTS -- (CONTINUED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
SELECTED PER-SHARE DATA(A)
----------------------------------------------------------------------------------
NET REALIZED
AND DISTRIBUTIONS
NET ASSET NET UNREALIZED DIVIDENDS FROM
VALUE AT INVESTMENT GAIN FROM NET REALIZED DISTRIBUTIONS
BEGINNING INCOME (LOSS) ON INVESTMENT CAPITAL FROM
OF PERIOD (LOSS) INVESTMENTS INCOME GAINS CAPITAL
--------- ---------- ------------ ---------- ------------- -------------
THE HARTFORD GLOBAL HEALTH
FUND
For the Six-Month Period
Ended April 30, 2003
Class A...................... 11.42 (0.02) 0.73 -- (0.30) --
Class B...................... 11.20 (0.06) 0.71 -- (0.30) --
Class C...................... 11.21 (0.06) 0.71 -- (0.30) --
Class Y...................... 11.61 0.01 0.73 -- (0.30) --
For the Year Ended October
31, 2002(g)
Class A...................... 13.47 (0.09) (1.68) -- (0.28) --
Class B...................... 13.31 (0.18) (1.65) -- (0.28) --
Class C...................... 13.32 (0.18) (1.65) -- (0.28) --
Class Y...................... 13.58 (0.02) (1.67) -- (0.28) --
For the Year Ended October
31, 2001
Class A...................... 13.86 (0.06) 0.23 -- (0.56) --
Class B...................... 13.81 (0.12) 0.18 -- (0.56) --
Class C...................... 13.81 (0.13) 0.20 -- (0.56) --
Class Y...................... 13.89 (0.01) 0.26 -- (0.56) --
From inception May 1, 2000,
through October 31, 2000
Class A...................... 10.00 (0.01) 3.87 -- -- --
Class B...................... 10.00 (0.04) 3.85 -- -- --
Class C...................... 10.00 (0.04) 3.85 -- -- --
Class Y...................... 10.00 0.01 3.88 -- -- --
THE HARTFORD GLOBAL LEADERS
FUND
For the Six-Month Period
Ended April 30, 2003
Class A...................... 11.21 -- 0.43 -- -- --
Class B...................... 10.88 (0.04) 0.42 -- -- --
Class C...................... 10.90 (0.04) 0.42 -- -- --
Class Y...................... 11.45 0.03 0.45 -- -- --
For the Year Ended October
31, 2002(g)
Class A...................... 12.83 0.02 (1.64) -- -- --
Class B...................... 12.54 (0.07) (1.59) -- -- --
Class C...................... 12.55 (0.06) (1.59) -- -- --
Class Y...................... 13.03 0.05 (1.63) -- -- --
For the Year Ended October
31, 2001
Class A...................... 17.55 0.01 (4.54) (0.18) (0.01)
Class B...................... 17.29 (0.08) (4.48) -- (0.18) (0.01)
Class C...................... 17.30 (0.10) (4.46) -- (0.18) (0.01)
Class Y...................... 17.73 0.08 (4.59) -- (0.18) (0.01)
For the Ten Months Ended
October 31, 2000
Class A...................... 18.56 -- (0.92) -- (0.09) --
Class B...................... 18.40 (0.06) (0.96) -- (0.09) --
Class C...................... 18.40 (0.06) (0.95) -- (0.09) --
Class Y...................... 18.68 0.03 (0.89) -- (0.09) --
For the Year Ended December
31, 1999
Class A...................... 12.67 -- 6.01 -- (0.12) --
Class B...................... 12.65 (0.02) 5.89 -- (0.12) --
Class C...................... 12.65 (0.02) 5.89 -- (0.12) --
Class Y...................... 12.69 0.03 6.08 -- (0.12) --
From inception September 30,
1998, through December 31,
1998
Class A...................... 10.00 (0.01) 3.03 -- (0.35) --
Class B...................... 10.00 (0.02) 3.02 -- (0.35) --
Class C...................... 10.00 (0.02) 3.02 -- (0.35) --
Class Y...................... 10.00 0.01 3.03 -- (0.35) --
<Caption>
RATIOS AND SUPPLEMENTAL DATA
------------------------------------------------------------------------------------------
RATIO OF RATIO OF RATIO OF
EXPENSES EXPENSES NET
NET ASSET NET ASSETS TO AVERAGE TO AVERAGE INVESTMENT
VALUE AT AT END OF NET ASSETS NET ASSETS INCOME PORTFOLIO
END OF TOTAL PERIOD BEFORE AFTER TO AVERAGE TURNOVER
PERIOD RETURN(C) (000'S) WAIVERS WAIVERS NET ASSETS RATE(E)
--------- --------- ---------- ---------- ---------- ---------- ---------
THE HARTFORD GLOBAL HEALTH
FUND
For the Six-Month Period
Ended April 30, 2003
Class A...................... 11.83 6.32(d) 100,945 1.82(b) 1.65(b) (0.36)(b) 20
Class B...................... 11.55 5.89(d) 46,396 2.52(b) 2.35(b) (1.05)(b) --
Class C...................... 11.56 5.89(d) 42,200 2.39(b) 2.35(b) (1.05)(b) --
Class Y...................... 12.05 6.48(d) 933 1.20(b) 1.20(b) 0.10(b) --
For the Year Ended October
31, 2002(g)
Class A...................... 11.42 (13.43) 101,881 1.79 1.65 (0.70) 63
Class B...................... 11.20 (14.05) 45,659 2.48 2.35 (1.40) --
Class C...................... 11.21 (14.08) 43,042 2.35 2.35 (1.40) --
Class Y...................... 11.61 (12.68) 881 1.17 1.17 (0.22) --
For the Year Ended October
31, 2001
Class A...................... 13.47 1.18 98,971 1.67 1.62 (0.61) 58
Class B...................... 13.31 0.36 42,578 2.36 2.35 (1.33) --
Class C...................... 13.32 0.43 44,306 2.33 2.33 (1.31) --
Class Y...................... 13.58 1.78 4,340 1.12 1.12 (0.11) --
From inception May 1, 2000,
through October 31, 2000
Class A...................... 13.86 38.74(d) 44,917 1.72(b) 1.65(b) (0.33)(b) 92
Class B...................... 13.81 38.24(d) 20,574 2.43(b) 2.35(b) (1.03)(b) --
Class C...................... 13.81 38.24(d) 26,830 2.40(b) 2.35(b) (1.03)(b) --
Class Y...................... 13.89 39.04(d) 2,507 1.20(b) 1.20(b) 0.12(b) --
THE HARTFORD GLOBAL LEADERS
FUND
For the Six-Month Period
Ended April 30, 2003
Class A...................... 11.64 3.84(d) 363,010 1.67(b) 1.64(b) (0.06)(b) 158
Class B...................... 11.26 3.49(d) 68,251 2.42(b) 2.35(b) (0.78)(b) --
Class C...................... 11.28 3.49(d) 69,952 2.27(b) 2.27(b) (0.71)(b) --
Class Y...................... 11.93 4.19(d) 11,773 0.98(b) 0.98(b) 0.66(b) --
For the Year Ended October
31, 2002(g)
Class A...................... 11.21 (12.63) 354,407 1.66 1.61 0.24 323
Class B...................... 10.88 (13.24) 70,280 2.33 2.33 (0.48) --
Class C...................... 10.90 (13.15) 75,174 2.21 2.21 (0.36) --
Class Y...................... 11.45 (12.13) 6,167 1.00 1.00 0.84 --
For the Year Ended October
31, 2001
Class A...................... 12.83 (26.07) 247,094 1.53 1.48 0.08 382
Class B...................... 12.54 (26.64) 62,973 2.23 2.23 (0.66) --
Class C...................... 12.55 (26.62) 103,574 2.19 2.19 (0.63) --
Class Y...................... 13.03 (25.68) 7,908 0.98 0.98 0.58 --
For the Ten Months Ended
October 31, 2000
Class A...................... 17.55 (4.98)(d) 255,959 1.53(b) 1.48(b) (0.06)(b) 290
Class B...................... 17.29 (5.56)(d) 75,702 2.22(b) 2.22(b) (0.80)(b) --
Class C...................... 17.30 (5.51)(d) 142,549 2.19(b) 2.19(b) (0.77)(b) --
Class Y...................... 17.73 (4.62)(d) 10,001 1.01(b) 1.01(b) 0.41(b) --
For the Year Ended December
31, 1999
Class A...................... 18.56 47.68 84,632 1.62 1.57 (0.15) 204
Class B...................... 18.40 46.64 24,588 2.29 2.29 (0.86) --
Class C...................... 18.40 46.64 43,012 2.33 2.33 (0.89) --
Class Y...................... 18.68 48.39 4,423 1.10 1.10 0.32 --
From inception September 30,
1998, through December 31,
1998
Class A...................... 12.67 30.36(d) 3,771 2.71(b) 1.65(b) (0.19)(b) 49
Class B...................... 12.65 30.16(d) 486 3.55(b) 2.35(b) (0.92)(b) --
Class C...................... 12.65 30.16(d) 517 3.57(b) 2.35(b) (0.90)(b) --
Class Y...................... 12.69 30.57(d) 392 2.46(b) 1.20(b) 0.31(b) --
</Table>
- ---------------
(a) Information presented relates to a share of capital share outstanding
throughout the indicated period.
(b) Annualized.
(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) Not annualized.
(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 restated to reflect a reverse stock split for
Class C shares effective February 11, 1999.
(g) Per share amounts have been calculated using average shares outstanding
method.
See Notes to Financial Statements.
184
- --------------------------------------------------------------------------------
<Table>
<Caption>
SELECTED PER-SHARE DATA(A)
----------------------------------------------------------------------------------
NET REALIZED
AND DISTRIBUTIONS
NET ASSET NET UNREALIZED DIVIDENDS FROM
VALUE AT INVESTMENT GAIN FROM NET REALIZED DISTRIBUTIONS
BEGINNING INCOME (LOSS) ON INVESTMENT CAPITAL FROM
OF PERIOD (LOSS) INVESTMENTS INCOME GAINS CAPITAL
--------- ---------- ------------ ---------- ------------- -------------
THE HARTFORD GLOBAL TECHNOLOGY
FUND
For the Six-Month Period
Ended April 30, 2003
Class A...................... 2.98 (0.02) 0.41 -- -- --
Class B...................... 2.92 (0.03) 0.40 -- -- --
Class C...................... 2.92 (0.03) 0.40 -- -- --
Class Y...................... 3.01 (0.01) 0.41 -- -- --
For the Year Ended October
31, 2002(g)
Class A...................... 4.01 (0.12) (0.91) -- -- --
Class B...................... 3.96 (0.18) (0.86) -- -- --
Class C...................... 3.97 (0.19) (0.86) -- -- --
Class Y...................... 4.04 (0.14) (0.89) -- -- --
For the Year Ended October
31, 2001
Class A...................... 8.72 (0.08) (4.55) -- (0.08) --
Class B...................... 8.68 (0.11) (4.53) -- (0.08) --
Class C...................... 8.68 (0.11) (4.52) -- (0.08) --
Class Y...................... 8.73 (0.04) (4.57) -- (0.08) --
From inception May 1, 2000,
through October 31, 2000
Class A...................... 10.00 (0.05) (1.23) -- -- --
Class B...................... 10.00 (0.07) (1.25) -- -- --
Class C...................... 10.00 (0.06) (1.26) -- -- --
Class Y...................... 10.00 (0.02) (1.25) -- -- --
THE HARTFORD GROWTH AND INCOME
FUND
For the Six-Month Period
Ended April 30, 2003
Class A...................... 8.43 0.01 0.20 -- -- --
Class B...................... 8.17 (0.02) 0.19 -- -- --
Class C...................... 8.18 (0.02) 0.19 -- -- --
Class Y...................... 8.63 0.03 0.20 -- -- --
For the Year Ended October
31, 2002(g)
Class A...................... 10.36 -- (1.93) -- -- --
Class B...................... 10.10 (0.11) (1.82) -- -- --
Class C...................... 10.11 (0.06) (1.87) -- -- --
Class Y...................... 10.52 0.05 (1.94) -- -- --
For the Year Ended October
31, 2001
Class A...................... 13.63 -- (2.75) -- (0.52) --
Class B...................... 13.40 (0.05) (2.73) -- (0.52) --
Class C...................... 13.41 (0.06) (2.72) -- (0.52) --
Class Y...................... 13.78 0.03 (2.77) -- (0.52) --
For the Ten Months Ended
October 31, 2000
Class A...................... 13.72 (0.02) 0.04 -- (0.11) --
Class B...................... 13.58 (0.06) (0.01) -- (0.11) --
Class C...................... 13.58 (0.06) -- -- (0.11) --
Class Y...................... 13.83 0.02 0.04 -- (0.11) --
For the Year Ended December
31, 1999
Class A...................... 11.45 0.01 2.36 -- (0.10) --
Class B...................... 11.41 (0.02) 2.29 -- (0.10) --
Class C...................... 11.41(f) (0.03)(f) 2.30(f) -- (0.10)(f) --
Class Y...................... 11.48 0.06 2.39 -- (0.10) --
From inception April 30,
1998, through December 31,
1998
Class A...................... 10.00 0.02 1.45 -- -- (0.02)
Class B...................... 10.00 (0.01) 1.43 -- -- (0.01)
Class Y...................... 10.00 0.05 1.46 -- -- (0.03)
From inception August 1,
1998, through December 31,
1998
Class C...................... 10.14(f) 0.01(f) 1.29(f) -- -- (0.03)(f)
<Caption>
RATIOS AND SUPPLEMENTAL DATA
------------------------------------------------------------------------------------------
RATIO OF RATIO OF RATIO OF
EXPENSES EXPENSES NET
NET ASSET NET ASSETS TO AVERAGE TO AVERAGE INVESTMENT
VALUE AT AT END OF NET ASSETS NET ASSETS INCOME PORTFOLIO
END OF TOTAL PERIOD BEFORE AFTER TO AVERAGE TURNOVER
PERIOD RETURN(C) (000'S) WAIVERS WAIVERS NET ASSETS RATE(E)
--------- --------- ---------- ---------- ---------- ---------- ---------
THE HARTFORD GLOBAL TECHNOLOGY
FUND
For the Six-Month Period
Ended April 30, 2003
Class A...................... 3.37 13.09(d) 21,547 1.82(b) 1.65(b) (1.15)(b) 70
Class B...................... 3.29 12.67(d) 9,053 2.53(b) 2.35(b) (1.85)(b) --
Class C...................... 3.29 12.67(d) 10,050 2.41(b) 2.35(b) (1.86)(b) --
Class Y...................... 3.41 13.29(d) 606 1.23(b) 1.20(b) (0.72)(b) --
For the Year Ended October
31, 2002(g)
Class A...................... 2.98 (25.69) 18,321 1.86 1.65 (1.44) 174
Class B...................... 2.92 (26.26) 8,170 2.54 2.35 (2.14) --
Class C...................... 2.92 (26.45) 9,560 2.39 2.35 (2.15) --
Class Y...................... 3.01 (25.50) 512 1.15 1.15 (0.97) --
For the Year Ended October
31, 2001
Class A...................... 4.01 (53.56) 24,824 1.71 1.66 (1.24) 253
Class B...................... 3.96 (53.93) 10,962 2.43 2.36 (1.94) --
Class C...................... 3.97 (53.81) 15,581 2.37 2.36 (1.94) --
Class Y...................... 4.04 (53.27) 4,602 1.13 1.13 (0.71) --
From inception May 1, 2000,
through October 31, 2000
Class A...................... 8.72 (14.26)(d) 33,221 1.77(b) 1.66(b) (1.37)(b) 104
Class B...................... 8.68 (14.65)(d) 15,676 2.46(b) 2.35(b) (2.07)(b) --
Class C...................... 8.68 (14.65)(d) 21,615 2.43(b) 2.35(b) (2.07)(b) --
Class Y...................... 8.73 (14.16)(d) 4,677 1.32(b) 1.20(b) (0.92)(b) --
THE HARTFORD GROWTH AND INCOME
FUND
For the Six-Month Period
Ended April 30, 2003
Class A...................... 8.64 2.49(d) 213,524 1.63(b) 1.45(b) 0.21(b) 39
Class B...................... 8.34 2.08(d) 41,653 2.33(b) 2.15(b) (0.49)(b) --
Class C...................... 8.35 2.08(d) 40,488 2.21(b) 2.15(b) (0.49)(b) --
Class Y...................... 8.86 2.66(d) 775 0.98(b) 0.98(b) 0.67(b) --
For the Year Ended October
31, 2002(g)
Class A...................... 8.43 (18.63) 230,545 1.57 1.45 (0.03) 89
Class B...................... 8.17 (19.11) 43,431 2.26 2.15 (1.03) --
Class C...................... 8.18 (19.09) 44,054 2.13 2.13 (0.80) --
Class Y...................... 8.63 (17.97) 661 0.93 0.93 0.46 --
For the Year Ended October
31, 2001
Class A...................... 10.36 (20.90) 239,698 1.43 1.38 (0.07) 80
Class B...................... 10.10 (21.51) 43,210 2.11 2.11 (0.80) --
Class C...................... 10.11 (21.50) 60,409 2.09 2.09 (0.78) --
Class Y...................... 10.52 (20.60) 440 0.96 0.96 0.34 --
For the Ten Months Ended
October 31, 2000
Class A...................... 13.63 0.15(d) 197,176 1.43(b) 1.38(b) (0.17)(b) 63
Class B...................... 13.40 (0.51)(d) 41,126 2.11(b) 2.11(b) (0.90)(b) --
Class C...................... 13.41 (0.44)(d) 63,650 2.09(b) 2.09(b) (0.88)(b) --
Class Y...................... 13.78 0.44(d) 490 0.95(b) 0.95(b) 0.26(b) --
For the Year Ended December
31, 1999
Class A...................... 13.72 20.80 74,764 1.49 1.44 0.01 53
Class B...................... 13.58 20.00 20,375 2.13 2.13 (0.68) --
Class C...................... 13.58(f) 19.98 29,265 2.16 2.15 (0.69) --
Class Y...................... 13.83 21.45 480 0.93 0.93 0.51 --
From inception April 30,
1998, through December 31,
1998
Class A...................... 11.45 14.78(d) 11,120 1.63(b) 1.45(b) 0.23(b) 35
Class B...................... 11.41 14.21(d) 3,538 2.32(b) 2.15(b) (0.47)(b) --
Class Y...................... 11.48 15.18(d) 386 1.20(b) 1.00(b) 0.76(b) --
From inception August 1,
1998, through December 31,
1998
Class C...................... 11.41(f) 12.80(d) 3,726 2.38(b) 2.15(b) (0.53)(b) --
</Table>
- ---------------
(a) Information presented relates to a share of capital share outstanding
throughout the indicated period.
(b) Annualized.
(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) Not annualized.
(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 restated to reflect a reverse stock split for
Class C shares effective February 11, 1999.
(g) Per share amounts have been calculated using average shares outstanding
method.
185
HARTFORD MUTUAL FUNDS, INC. AND HARTFORD MUTUAL FUNDS II, INC.
FINANCIAL HIGHLIGHTS -- (CONTINUED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
SELECTED PER-SHARE DATA(A)
----------------------------------------------------------------------------------
NET REALIZED
AND DISTRIBUTIONS
NET ASSET NET UNREALIZED DIVIDENDS FROM
VALUE AT INVESTMENT GAIN FROM NET REALIZED DISTRIBUTIONS
BEGINNING INCOME (LOSS) ON INVESTMENT CAPITAL FROM
OF PERIOD (LOSS) INVESTMENTS INCOME GAINS CAPITAL
--------- ---------- ------------ ---------- ------------- -------------
THE HARTFORD GROWTH FUND
For the Six-Month Period
Ended April 30, 2003
Class A...................... 11.90 (0.03) 0.85 -- -- --
Class B...................... 10.80 (0.02) 0.73 -- -- --
Class C...................... 10.80 (0.02) 0.73 -- -- --
Class H...................... 10.81 (0.02) 0.74 -- -- --
Class L...................... 11.91 (0.03) 0.87 -- -- --
Class M...................... 10.80 (0.02) 0.74 -- -- --
Class N...................... 10.80 (0.02) 0.74 -- -- --
Class Y...................... 11.94 (0.03) 0.88 -- -- --
For the Period February 19,
2002 through October 31,
2002
Class A...................... 14.57 (0.02) (2.65) -- -- --
Class B...................... 13.28 (0.04) (2.44) -- -- --
Class C...................... 13.28 (0.04) (2.44) -- -- --
Class Y...................... 14.57 -- (2.63) -- -- --
For the Year Ended October
31, 2002
Class H...................... 13.02 (0.23) (1.98) -- -- --
Class L...................... 14.23 (0.03) (2.29) -- -- --
Class M...................... 13.00 (0.16) (2.04) -- -- --
Class N...................... 13.00 (0.26) (1.94) -- -- --
For the Two-Month Period
Ended October 31, 2001
Class H...................... 13.83 (0.03) (0.78) -- -- --
Class L...................... 15.09 (0.01) (0.85) -- -- --
Class M...................... 13.81 (0.03) (0.78)(d) -- -- --
Class N...................... 13.81 (0.03) (0.78) -- -- --
For the Year Ended August 31,
2001
Class H...................... 22.30 (0.21) (4.94) -- (3.32) --
Class L...................... 23.85 (0.05) (5.39) -- (3.32) --
Class M...................... 22.27 (0.21) (4.93) -- (3.32) --
Class N...................... 22.27 (0.21) (4.93) -- (3.32) --
For the Year Ended August 31,
2000
Class H...................... 21.78 (0.62) 6.49 -- (5.35) --
Class L...................... 22.81 (0.08) 6.47 -- (5.35) --
Class M...................... 21.77 (0.62) 6.47 -- (5.35) --
Class N...................... 21.76 (0.62) 6.48 -- (5.35) --
For the Year Ended August 31,
1999
Class H...................... 21.74 (0.43) 6.73 -- (6.26) --
Class L...................... 22.37 (0.03) 6.73 -- (6.26) --
Class M...................... 21.73 (0.43) 6.73 -- (6.26) --
Class N...................... 21.73 (0.44) 6.73 -- (6.26) --
For the Year Ended August 31,
1998
Class H...................... 25.68 (0.26) 0.38 -- (4.06) --
Class L...................... 26.13 (0.08) 0.38 -- (4.06) --
Class M...................... 25.67 (0.26) 0.38 -- (4.06) --
Class N...................... 25.68 (0.27) 0.38 -- (4.06) --
<Caption>
RATIOS AND SUPPLEMENTAL DATA
------------------------------------------------------------------------------------------
RATIO OF RATIO OF RATIO OF
EXPENSES EXPENSES NET
NET ASSET NET ASSETS TO AVERAGE TO AVERAGE INVESTMENT
VALUE AT AT END OF NET ASSETS NET ASSETS INCOME PORTFOLIO
END OF TOTAL PERIOD BEFORE AFTER TO AVERAGE TURNOVER
PERIOD RETURN(C) (000'S) WAIVERS WAIVERS NET ASSETS RATE(E)
--------- --------- ---------- ---------- ---------- ---------- ---------
THE HARTFORD GROWTH FUND
For the Six-Month Period
Ended April 30, 2003
Class A...................... 12.72 6.89(d) 13,497 1.57(b) 1.45(b) (0.55)(b) 58
Class B...................... 11.51 6.58(d) 3,435 2.27(b) 2.15(b) (1.25)(b) --
Class C...................... 11.51 6.58(d) 3,245 2.15(b) 2.15(b) (1.23)(b) --
Class H...................... 11.53 6.66(d) 24,913 1.90(b) 1.90(b) (1.03)(b) --
Class L...................... 12.75 7.05(d) 275,579 1.15(b) 1.15(b) (0.28)(b) --
Class M...................... 11.52 6.67(d) 20,777 1.90(b) 1.90(b) (1.04)(b) --
Class N...................... 11.52 6.67(d) 4,296 1.90(b) 1.90(b) (1.03)(b) --
Class Y...................... 12.79 7.12(d) 1 0.97(b) 0.97(b) (0.11)(b) --
For the Period February 19,
2002 through October 31,
2002
Class A...................... 11.90 (18.33)(d) 5,970 1.65(b) 1.45(b) (0.44)(b) 107
Class B...................... 10.80 (18.67)(d) 1,698 2.32(b) 2.15(b) (1.10)(b) --
Class C...................... 10.80 (18.68)(d) 1,480 2.18(b) 2.15(b) (1.13)(b) --
Class Y...................... 11.94 (18.05)(d) 1 0.90(b) 0.90(b) (0.01)(b) --
For the Year Ended October
31, 2002
Class H...................... 10.81 (16.95) 26,002 1.89 1.89 (1.03) 107
Class L...................... 11.91 (16.28) 274,683 1.14 1.14 (0.28) --
Class M...................... 10.80 (16.90) 21,478 1.89 1.89 (1.03) --
Class N...................... 10.80 (16.90) 4,340 1.89 1.89 (1.03) --
For the Two-Month Period
Ended October 31, 2001
Class H...................... 13.02 (5.86)(d) 37,750 1.86(b) 1.86(b) (1.09)(b) 13
Class L...................... 14.23 (5.70)(d) 385,620 1.11(b) 1.11(b) (0.34)(b) --
Class M...................... 13.00 (5.87)(d) 28,112 1.86(b) 1.86(b) (1.09)(b) --
Class N...................... 13.00 (5.87)(d) 6,911 1.86(b) 1.86(b) (1.09)(b) --
For the Year Ended August 31,
2001
Class H...................... 13.83 (25.59) 40,645 1.83 1.83 (0.91) 161
Class L...................... 15.09 (25.08) 416,544 1.08 1.08 (0.16) --
Class M...................... 13.81 (25.58) 29,777 1.83 1.83 (0.91) --
Class N...................... 13.81 (25.58) 7,557 1.83 1.83 (0.91) --
For the Year Ended August 31,
2000
Class H...................... 22.30 31.68 56,771 1.82 1.82 (1.04) 165
Class L...................... 23.85 32.70 615,473 1.07 1.07 (0.29) --
Class M...................... 22.27 31.59 38,264 1.82 1.82 (1.04) --
Class N...................... 22.27 31.66 10,932 1.82 1.82 (1.04) --
For the Year Ended August 31,
1999
Class H...................... 21.78 36.91 40,760 1.85 1.85 (0.83) 177
Class L...................... 22.81 37.88 551,551 1.10 1.10 (0.08) --
Class M...................... 21.77 36.94 24,847 1.85 1.85 (0.83) --
Class N...................... 21.76 36.87 5,715 1.85 1.85 (0.83) --
For the Year Ended August 31,
1998
Class H...................... 21.74 0.80 16,987 1.88 1.88 (1.03) 71
Class L...................... 22.37 1.56 312,582 1.13 1.13 (0.28) --
Class M...................... 21.73 0.80 9,339 1.88 1.88 (1.03) --
Class N...................... 21.73 0.76 2,453 1.88 1.88 (1.03) --
</Table>
- ---------------
(a) Information presented relates to a share of capital share outstanding
throughout the indicated period.
(b) Annualized.
(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) Not annualized.
(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 restated to reflect a reverse stock split for
Class C shares effective February 11, 1999.
(g) Per share amounts have been calculated using average shares outstanding
method.
See Notes to Financial Statements.
186
- --------------------------------------------------------------------------------
<Table>
<Caption>
SELECTED PER-SHARE DATA(A)
----------------------------------------------------------------------------------
NET REALIZED
AND DISTRIBUTIONS
NET ASSET NET UNREALIZED DIVIDENDS FROM
VALUE AT INVESTMENT GAIN FROM NET REALIZED DISTRIBUTIONS
BEGINNING INCOME (LOSS) ON INVESTMENT CAPITAL FROM
OF PERIOD (LOSS) INVESTMENTS INCOME GAINS CAPITAL
--------- ---------- ------------ ---------- ------------- -------------
THE HARTFORD GROWTH
OPPORTUNITIES FUND
For the Six-Month Period
Ended April 30, 2003
Class A...................... 15.31 (0.06) 1.66 -- -- --
Class B...................... 13.71 (0.09) 1.47 -- -- --
Class C...................... 13.70 (0.09) 1.48 -- -- --
Class H...................... 13.73 (0.10) 1.51 -- -- --
Class L...................... 15.33 (0.05) 1.69 -- -- --
Class M...................... 13.71 (0.10) 1.51 -- -- --
Class N...................... 13.71 (0.10) 1.51 -- -- --
Class Y...................... 15.35 (0.04) 1.69 -- -- --
Class Z...................... 15.87 (0.03) 1.74 -- -- --
For the Period February 19,
2002 through October 31,
2002
Class A...................... 19.80 (0.06) (4.43) -- -- --
Class B...................... 17.80 (0.10) (3.99) -- -- --
Class C...................... 17.80 (0.09) (4.01) -- -- --
Class Y...................... 19.80 (0.06) (4.39) -- -- --
For the Year Ended October
31, 2002
Class H...................... 17.36 (0.32) (3.10) -- (0.21) --
Class L...................... 19.21 (0.13) (3.54) -- (0.21) --
Class M...................... 17.33 (0.28) (3.13) -- (0.21) --
Class N...................... 17.34 (0.34) (3.08) -- (0.21) --
Class Z...................... 19.77 0.72 (4.41) -- (0.21) --
For the Two-Month Period
Ended October 31, 2001
Class H...................... 19.55 (0.11) (2.08) -- -- --
Class L...................... 21.62 (0.11) (2.30) -- -- --
Class M...................... 19.53 (0.12) (2.08) -- -- --
Class N...................... 19.53 (0.11) (2.08) -- -- --
Class Z...................... 22.24 (0.10) (2.37) -- -- --
For the Year Ended August 31,
2001
Class H...................... 42.35 (0.70) (13.55) -- (8.55) --
Class L...................... 45.45 (0.30) (14.98) -- (8.55) --
Class M...................... 42.31 (0.70) (13.53) -- (8.55) --
Class N...................... 42.32 (0.71) (13.53) -- (8.55) --
Class Z...................... 46.35 (0.15) (15.41) -- (8.55) --
For the Year Ended August 31,
2000
Class H...................... 29.28 (0.30) 20.22 -- (6.85) --
Class L...................... 30.80 (0.20) 21.70 -- (6.85) --
Class M...................... 29.26 (0.30) 20.20 -- (6.85) --
Class N...................... 29.26 (0.30) 20.21 -- (6.85) --
Class Z...................... 31.23 (0.16) 22.13 -- (6.85) --
For the Year Ended August 31,
1999
Class H...................... 28.86 (0.73) 10.72 -- (9.57) --
Class L...................... 29.78 (0.13) 10.72 -- (9.57) --
Class M...................... 28.85 (0.74) 10.72 -- (9.57) --
Class N...................... 28.85 (0.74) 10.72 -- (9.57) --
Class Z...................... 30.00 (0.06) 10.86 -- (9.57) --
For the Year Ended August 31,
1998
Class H...................... 36.54 (0.25) (3.59) -- (3.84) --
Class L...................... 37.32 (0.11) (3.59) -- (3.84) --
Class M...................... 36.53 (0.25) (3.59) -- (3.84) --
Class N...................... 36.52 (0.24) (3.59) -- (3.84) --
Class Z...................... 37.47 (0.04) (3.59) -- (3.84) --
<Caption>
RATIOS AND SUPPLEMENTAL DATA
------------------------------------------------------------------------------------------
RATIO OF RATIO OF RATIO OF
EXPENSES EXPENSES NET
NET ASSET NET ASSETS TO AVERAGE TO AVERAGE INVESTMENT
VALUE AT AT END OF NET ASSETS NET ASSETS INCOME PORTFOLIO
END OF TOTAL PERIOD BEFORE AFTER TO AVERAGE TURNOVER
PERIOD RETURN(C) (000'S) WAIVERS WAIVERS NET ASSETS RATE(E)
--------- --------- ---------- ---------- ---------- ---------- ---------
THE HARTFORD GROWTH
OPPORTUNITIES FUND
For the Six-Month Period
Ended April 30, 2003
Class A...................... 16.91 10.45(d) 5,229 1.56(b) 1.45(b) (0.89)(b) 82
Class B...................... 15.09 10.06(d) 1,373 2.25(b) 2.15(b) (1.58)(b) --
Class C...................... 15.09 10.15(d) 1,129 2.10(b) 2.10(b) (1.54)(b) --
Class H...................... 15.14 10.27(d) 39,365 1.87(b) 1.87(b) (1.32)(b) --
Class L...................... 16.97 10.70(d) 427,273 1.12(b) 1.12(b) (0.57)(b) --
Class M...................... 15.12 10.28(d) 20,651 1.87(b) 1.87(b) (1.32)(b) --
Class N...................... 15.12 10.28(d) 4,024 1.87(b) 1.87(b) (1.32)(b) --
Class Y...................... 17.00 10.75(d) 1 1.02(b) 1.00(b) (0.48)(b) --
Class Z...................... 17.58 10.78(d) 28,669 0.87(b) 0.87(b) (0.31)(b) --
For the Period February 19,
2002 through October 31,
2002
Class A...................... 15.31 (22.68)(d) 3,338 1.62(b) 1.45(b) (0.92)(b) 182
Class B...................... 13.71 (22.99)(d) 777 2.30(b) 2.15(b) (1.60)(b) --
Class C...................... 13.70 (23.05)(d) 892 2.09(b) 2.09(b) (1.56)(b) --
Class Y...................... 15.35 (22.47)(d) 1 0.89(b) 0.89(b) (0.44)(b) --
For the Year Ended October
31, 2002
Class H...................... 13.73 (19.99) 39,151 1.85 1.85 (1.42) 182
Class L...................... 15.33 (19.36) 412,454 1.10 1.10 (0.67) --
Class M...................... 13.71 (19.97) 20,163 1.85 1.85 (1.42) --
Class N...................... 13.71 (20.01) 4,172 1.85 1.85 (1.42) --
Class Z...................... 15.87 (18.90) 26,842 0.84 0.84 (0.43) --
For the Two-Month Period
Ended October 31, 2001
Class H...................... 17.36 (11.20)(d) 54,539 1.83(b) 1.83(b) (1.27)(b) 28
Class L...................... 19.21 (11.15)(d) 593,267 1.08(b) 1.08(b) (0.52)(b) --
Class M...................... 17.33 (11.26)(d) 27,013 1.83(b) 1.83(b) (1.27)(b) --
Class N...................... 17.34 (11.21)(d) 6,131 1.83(b) 1.83(b) (1.27)(b) --
Class Z...................... 19.77 (11.11)(d) 94,961 0.83(b) 0.83(b) (0.27)(b) --
For the Year Ended August 31,
2001
Class H...................... 19.55 (38.91) 61,764 1.79 1.79 (1.15) 198
Class L...................... 21.62 (38.44) 681,941 1.04 1.04 (0.40) --
Class M...................... 19.53 (38.90) 30,268 1.79 1.79 (1.15) --
Class N...................... 19.53 (38.92) 6,866 1.79 1.79 (1.15) --
Class Z...................... 22.24 (38.26) 110,221 0.79 0.79 (0.15) --
For the Year Ended August 31,
2000
Class H...................... 42.35 80.72 97,410 1.79 1.79 (1.29) 140
Class L...................... 45.45 82.06 1,203,376 1.04 1.04 (0.54) --
Class M...................... 42.31 80.70 43,250 1.79 1.79 (1.29) --
Class N...................... 42.32 80.74 10,352 1.79 1.79 (1.29) --
Class Z...................... 46.35 82.51 231,410 0.79 0.79 (0.29) --
For the Year Ended August 31,
1999
Class H...................... 29.28 39.00 50,547 1.81 1.81 (1.19) 166
Class L...................... 30.80 40.00 734,282 1.06 1.06 (0.44) --
Class M...................... 29.26 38.98 20,236 1.81 1.81 (1.19) --
Class N...................... 29.26 38.98 4,629 1.81 1.81 (1.19) --
Class Z...................... 31.23 40.49 119,548 0.81 0.81 (0.19) --
For the Year Ended August 31,
1998
Class H...................... 28.86 (11.25) 34,453 1.80 1.80 (1.04) 61
Class L...................... 29.78 (10.59) 581,819 1.05 1.05 (0.29) --
Class M...................... 28.85 (11.25) 12,417 1.80 1.80 (1.04) --
Class N...................... 28.85 (11.22) 2,738 1.80 1.80 (1.04) --
Class Z...................... 30.00 (10.34) 95,370 0.80 0.80 (0.04) --
</Table>
- ---------------
(a) Information presented relates to a share of capital share outstanding
throughout the indicated period.
(b) Annualized.
(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) Not annualized.
(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 restated to reflect a reverse stock split for
Class C shares effective February 11, 1999.
(g) Per share amounts have been calculated using average shares outstanding
method.
187
HARTFORD MUTUAL FUNDS, INC. AND HARTFORD MUTUAL FUNDS II, INC.
FINANCIAL HIGHLIGHTS -- (CONTINUED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
SELECTED PER-SHARE DATA(A)
----------------------------------------------------------------------------------
NET REALIZED
AND DISTRIBUTIONS
NET ASSET NET UNREALIZED DIVIDENDS FROM
VALUE AT INVESTMENT GAIN FROM NET REALIZED DISTRIBUTIONS
BEGINNING INCOME (LOSS) ON INVESTMENT CAPITAL FROM
OF PERIOD (LOSS) INVESTMENTS INCOME GAINS CAPITAL
--------- ---------- ------------ ---------- ------------- -------------
THE HARTFORD HIGH YIELD FUND
For the Six-Month Period
Ended April 30, 2003
Class A...................... 6.73 0.35 0.97 (0.37) -- --
Class B...................... 6.72 0.33 0.96 (0.34) -- --
Class C...................... 6.72 0.33 0.96 (0.34) -- --
Class Y...................... 6.73 0.35 0.98 (0.38) -- --
For the Year Ended October
31, 2002(g)
Class A...................... 8.45 0.82 (1.78) (0.76) -- --
Class B...................... 8.43 0.80 (1.81) (0.70) -- --
Class C...................... 8.43 0.72 (1.73) (0.70) -- --
Class Y...................... 8.48 0.34 (1.30) (0.79) -- --
For the Year Ended October
31, 2001
Class A...................... 9.06 0.78 (0.61) (0.78) -- --
Class B...................... 9.05 0.72 (0.62) (0.72) -- --
Class C...................... 9.05 0.72 (0.62) (0.72) -- --
Class Y...................... 9.10 0.83 (0.63) (0.82) -- --
For the Ten Months Ended
October 31, 2000
Class A...................... 9.75 0.66 (0.69) (0.66) -- --
Class B...................... 9.74 0.62 (0.71) (0.60) -- --
Class C...................... 9.74 0.61 (0.70) (0.60) -- --
Class Y...................... 9.78 0.69 (0.69) (0.68) -- --
For the Year Ended December
31, 1999
Class A...................... 10.15 0.75 (0.40) (0.75) -- --
Class B...................... 10.14 0.68 (0.40) (0.68) -- --
Class C...................... 10.14 0.68 (0.40) (0.68) -- --
Class Y...................... 10.16 0.78 (0.39) (0.77) -- --
From inception September 30,
1998, through December 31,
1998
Class A...................... 10.00 0.19 0.13 (0.17) -- --
Class B...................... 10.00 0.16 0.14 (0.16) -- --
Class C...................... 10.00 0.16 0.14 (0.16) -- --
Class Y...................... 10.00 0.21 0.13 (0.18) -- --
THE HARTFORD INCOME FUND
From inception October 31,
2002, through April 30,
2003
Class A...................... 10.00 0.28 0.51 (0.27) -- --
Class B...................... 10.00 0.23 0.52 (0.23) -- --
Class C...................... 10.00 0.23 0.52 (0.23) -- --
THE HARTFORD INFLATION PLUS
FUND
From inception October 31,
2002, through April 30,
2003
Class A...................... 10.00 0.16 0.35 (0.16) -- --
Class B...................... 10.00 0.13 0.35 (0.13) -- --
Class C...................... 10.00 0.13 0.35 (0.13) -- --
<Caption>
RATIOS AND SUPPLEMENTAL DATA
------------------------------------------------------------------------------------------
RATIO OF RATIO OF RATIO OF
EXPENSES EXPENSES NET
NET ASSET NET ASSETS TO AVERAGE TO AVERAGE INVESTMENT
VALUE AT AT END OF NET ASSETS NET ASSETS INCOME PORTFOLIO
END OF TOTAL PERIOD BEFORE AFTER TO AVERAGE TURNOVER
PERIOD RETURN(C) (000'S) WAIVERS WAIVERS NET ASSETS RATE(E)
--------- --------- ---------- ---------- ---------- ---------- ---------
THE HARTFORD HIGH YIELD FUND
For the Six-Month Period
Ended April 30, 2003
Class A...................... 7.68 20.05(d) 160,260 1.50(b) 1.40(b) 9.44(b) 21
Class B...................... 7.67 19.66(d) 63,031 2.23(b) 2.10(b) 8.80(b) --
Class C...................... 7.67 19.67(d) 61,641 2.09(b) 2.09(b) 8.80(b) --
Class Y...................... 7.68 20.33(d) 1 1.60(b) 0.95(b) 10.04(b) --
For the Year Ended October
31, 2002(g)
Class A...................... 6.73 (12.16) 95,760 1.55 1.40 9.48 22
Class B...................... 6.72 (12.70) 44,359 2.24 2.10 8.78 --
Class C...................... 6.72 (12.65) 40,611 2.10 2.10 8.78 --
Class Y...................... 6.73 (12.01) 1 0.84 0.84 10.04 --
For the Year Ended October
31, 2001
Class A...................... 8.45 1.80 45,753 1.40 1.35 9.00 63
Class B...................... 8.43 0.99 16,922 2.08 2.08 8.28 --
Class C...................... 8.43 1.01 27,605 2.08 2.08 8.28 --
Class Y...................... 8.48 2.15 4,223 0.88 0.88 9.48 --
For the Ten Months Ended
October 31, 2000
Class A...................... 9.06 (0.35)(d) 23,214 1.38(b) 1.33(b) 8.55(b) 57
Class B...................... 9.05 (0.92)(d) 7,929 2.04(b) 2.04(b) 7.84(b) --
Class C...................... 9.05 (0.90)(d) 9,534 2.04(b) 2.04(b) 7.83(b) --
Class Y...................... 9.10 0.02(d) 2,955 0.89(b) 0.89(b) 8.99(b) --
For the Year Ended December
31, 1999
Class A...................... 9.75 3.47 17,465 1.41 1.36 7.74 53
Class B...................... 9.74 2.80 7,436 2.08 2.08 7.03 --
Class C...................... 9.74 2.81 8,573 2.09 2.09 7.01 --
Class Y...................... 9.78 3.98 2,314 0.90 0.90 8.20 --
From inception September 30,
1998, through December 31,
1998
Class A...................... 10.15 3.33(d) 8,507 1.58(b) 1.40(b) 7.06(b) 11
Class B...................... 10.14 3.09(d) 2,322 2.31(b) 2.10(b) 6.50(b) --
Class C...................... 10.14 3.08(d) 2,278 2.31(b) 2.10(b) 6.49(b) --
Class Y...................... 10.16 3.51(d) 1,034 1.17(b) 0.95(b) 7.48(b) --
THE HARTFORD INCOME FUND
From inception October 31,
2002, through April 30,
2003
Class A...................... 10.52 8.00(d) 11,515 1.46(b) 1.00(b) 5.57(b) 54
Class B...................... 10.52 7.62(d) 2,765 2.19(b) 1.70(b) 4.96(b) --
Class C...................... 10.52 7.62(d) 3,372 2.09(b) 1.70(b) 4.98(b) --
THE HARTFORD INFLATION PLUS
FUND
From inception October 31,
2002, through April 30,
2003
Class A...................... 10.35 5.10(d) 77,456 1.24(b) 1.00(b) 4.61(b) 5
Class B...................... 10.35 4.77(d) 39,009 1.95(b) 1.70(b) 4.55(b) --
Class C...................... 10.35 4.77(d) 82,824 1.86(b) 1.70(b) 4.30(b) --
</Table>
- ---------------
(a) Information presented relates to a share of capital share outstanding
throughout the indicated period.
(b) Annualized.
(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) Not annualized.
(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 restated to reflect a reverse stock split for
Class C shares effective February 11, 1999.
(g) Per share amounts have been calculated using average shares outstanding
method.
See Notes to Financial Statements.
188
- --------------------------------------------------------------------------------
<Table>
<Caption>
SELECTED PER-SHARE DATA(A)
----------------------------------------------------------------------------------
NET REALIZED
AND DISTRIBUTIONS
NET ASSET NET UNREALIZED DIVIDENDS FROM
VALUE AT INVESTMENT GAIN FROM NET REALIZED DISTRIBUTIONS
BEGINNING INCOME (LOSS) ON INVESTMENT CAPITAL FROM
OF PERIOD (LOSS) INVESTMENTS INCOME GAINS CAPITAL
--------- ---------- ------------ ---------- ------------- -------------
THE HARTFORD INTERNATIONAL
CAPITAL APPRECIATION FUND
For the Six-Month Period
Ended April 30, 2003
Class A...................... 6.93 (0.01) 0.48 (0.01) -- --
Class B...................... 6.86 (0.03) 0.47 -- -- --
Class C...................... 6.86 (0.02) 0.46 -- -- --
Class Y...................... 6.98 0.01 0.48 (0.04) -- --
For the Year Ended October
31, 2002(g)
Class A...................... 7.62 0.02 (0.71) -- -- --
Class B...................... 7.59 (0.03) (0.70) -- -- --
Class C...................... 7.59 (0.03) (0.70) -- -- --
Class Y...................... 7.63 0.07 (0.72) -- -- --
From inception April 30,
2001, through October 31,
2001
Class A...................... 10.00 -- (2.38) -- -- --
Class B...................... 10.00 (0.03) (2.38) -- -- --
Class C...................... 10.00 (0.02) (2.39) -- -- --
Class Y...................... 10.00 0.02 (2.39) -- -- --
THE HARTFORD INTERNATIONAL OPPORTUNITIES FUND
For the Six-Month Period
Ended April 30, 2003
Class A...................... 8.03 0.01 (0.13) -- -- --
Class B...................... 7.71 (0.01) (0.11) -- -- --
Class C...................... 7.67 (0.01) (0.12) -- -- --
Class Y...................... 8.19 0.03 (0.12) -- -- --
For the Year Ended October
31, 2002(g)
Class A...................... 9.33 0.03 (1.33) -- -- --
Class B...................... 9.04 (0.08) (1.25) -- -- --
Class C...................... 8.99 (0.05) (1.27) -- -- --
Class Y...................... 9.49 0.02 (1.32) -- -- --
For the Year Ended October
31, 2001
Class A...................... 13.03 0.05 (3.14) -- (0.61) --
Class B...................... 12.74 (0.04) (3.05) -- (0.61) --
Class C...................... 12.68 (0.03) (3.05) -- (0.61) --
Class Y...................... 13.19 0.09 (3.18) -- (0.61) --
For the Ten Months Ended
October 31, 2000
Class A...................... 15.43 0.08 (2.42) (0.01) (0.05) --
Class B...................... 15.17 0.01 (2.39) -- (0.05) --
Class C...................... 15.10 0.07 (2.44) -- (0.05) --
Class Y...................... 15.56 0.12 (2.43) (0.01) (0.05) --
For the Year Ended December
31, 1999
Class A...................... 11.89 0.06 4.46 (0.15) (0.83) --
Class B...................... 11.73 0.01 4.32 (0.06) (0.83) --
Class C...................... 11.74(f) (0.02)(f) 4.33(f) (0.12)(f) (0.83)(f) --
Class Y...................... 11.97 0.09 4.51 (0.18) (0.83) --
For the Year Ended December
31, 1998
Class A...................... 10.58 0.07 1.26 (0.02) -- --
Class B...................... 10.49 0.01 1.23 -- -- --
Class Y...................... 10.62 0.12 1.27 (0.04) -- --
From inception August 1,
1998, through December 31,
1998
Class C...................... 12.26(f) (0.01)(f) (0.48)(f) (0.03)(f) -- --
For the Year Ended December
31, 1997
Class A...................... 10.72 0.09 (0.01) (0.05) (0.17) --
Class B...................... 10.69 0.07 (0.06) (0.04) (0.17) --
Class Y...................... 10.73 0.15 (0.02) (0.07) (0.17) --
<Caption>
RATIOS AND SUPPLEMENTAL DATA
------------------------------------------------------------------------------------------
RATIO OF RATIO OF RATIO OF
EXPENSES EXPENSES NET
NET ASSET NET ASSETS TO AVERAGE TO AVERAGE INVESTMENT
VALUE AT AT END OF NET ASSETS NET ASSETS INCOME PORTFOLIO
END OF TOTAL PERIOD BEFORE AFTER TO AVERAGE TURNOVER
PERIOD RETURN(C) (000'S) WAIVERS WAIVERS NET ASSETS RATE(E)
--------- --------- ---------- ---------- ---------- ---------- ---------
THE HARTFORD INTERNATIONAL
CAPITAL APPRECIATION FUND
For the Six-Month Period
Ended April 30, 2003
Class A...................... 7.39 6.74(d) 5,437 2.57(b) 1.65(b) (0.27)(b) 129
Class B...................... 7.30 6.41(d) 1,001 3.26(b) 2.35(b) (0.93)(b) --
Class C...................... 7.30 6.41(d) 1,188 3.13(b) 2.35(b) (0.96)(b) --
Class Y...................... 7.43 7.02(d) 224 1.96(b) 1.20(b) 0.18(b) --
For the Year Ended October
31, 2002(g)
Class A...................... 6.93 (9.06) 4,666 2.98 1.65 0.34 330
Class B...................... 6.86 (9.62) 813 3.69 2.35 (0.42) --
Class C...................... 6.86 (9.62) 826 3.55 2.35 (0.34) --
Class Y...................... 6.98 (8.52) 209 2.19 1.20 0.79 --
From inception April 30,
2001, through October 31,
2001
Class A...................... 7.62 (23.80)(d) 2,579 2.64(b) 1.65(b) (0.09)(b) 135
Class B...................... 7.59 (24.10)(d) 327 3.35(b) 2.35(b) (0.79)(b) --
Class C...................... 7.59 (24.10)(d) 316 3.32(b) 2.35(b) (0.79)(b) --
Class Y...................... 7.63 (23.70)(d) 229 2.10(b) 1.20(b) 0.36(b) --
THE HARTFORD INTERNATIONAL OPP
For the Six-Month Period
Ended April 30, 2003
Class A...................... 7.91 (1.49)(d) 62,459 1.84(b) 1.65(b) 0.38(b) 59
Class B...................... 7.59 (1.56)(d) 17,396 2.56(b) 2.35(b) (0.28)(b) --
Class C...................... 7.54 (1.70)(d) 12,759 2.41(b) 2.35(b) (0.33)(b) --
Class Y...................... 8.10 (1.10)(d) 4,826 1.22(b) 1.20(b) 0.92(b) --
For the Year Ended October
31, 2002(g)
Class A...................... 8.03 (13.93) 66,775 1.82 1.65 0.34 175
Class B...................... 7.71 (14.71) 18,668 2.50 2.35 (0.79) --
Class C...................... 7.67 (14.68) 13,438 2.40 2.35 (0.64) --
Class Y...................... 8.19 (13.70) 4,543 1.13 1.13 0.31 --
For the Year Ended October
31, 2001
Class A...................... 9.33 (24.87) 72,326 1.61 1.56 0.47 158
Class B...................... 9.04 (25.46) 18,798 2.30 2.30 (0.28) --
Class C...................... 8.99 (25.51) 18,523 2.28 2.28 (0.25) --
Class Y...................... 9.49 (24.56) 17,092 1.06 1.06 0.97 --
For the Ten Months Ended
October 31, 2000
Class A...................... 13.03 (15.18)(d) 89,309 1.60(b) 1.55(b) 0.64(b) 121
Class B...................... 12.74 (15.70)(d) 25,872 2.29(b) 2.29(b) (0.09)(b) --
Class C...................... 12.68 (15.70)(d) 26,912 2.27(b) 2.27(b) (0.07)(b) --
Class Y...................... 13.19 (14.91)(d) 22,454 1.06(b) 1.06(b) 1.13(b) --
For the Year Ended December
31, 1999
Class A...................... 15.43 39.13 63,281 1.61 1.56 0.61 128
Class B...................... 15.17 38.11 22,835 2.26 2.26 (0.09) --
Class C...................... 15.10(f) 37.98 13,514 2.31 2.31 (0.13) --
Class Y...................... 15.56 39.63 25,403 1.11 1.11 1.07 --
For the Year Ended December
31, 1998
Class A...................... 11.89 12.53 32,014 1.89 1.65 0.69 149
Class B...................... 11.73 11.82 11,767 2.56 2.35 0.01 --
Class Y...................... 11.97 13.11 10,860 1.36 1.20 1.17 --
From inception August 1,
1998, through December 31,
1998
Class C...................... 11.74(f) (4.05)(d) 1,379 2.83(b) 2.35(b) (0.71)(b) --
For the Year Ended December
31, 1997
Class A...................... 10.58 0.84 15,701 2.30 1.65 0.88 59
Class B...................... 10.49 0.12 7,188 3.03 2.35 (0.05) --
Class Y...................... 10.62 1.31 6,422 1.76 1.20 1.33 --
</Table>
- ---------------
(a) Information presented relates to a share of capital share outstanding
throughout the indicated period.
(b) Annualized.
(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) Not annualized.
(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 restated to reflect a reverse stock split for
Class C shares effective February 11, 1999.
(g) Per share amounts have been calculated using average shares outstanding
method.
189
HARTFORD MUTUAL FUNDS, INC. AND HARTFORD MUTUAL FUNDS II, INC.
FINANCIAL HIGHLIGHTS -- (CONTINUED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
SELECTED PER-SHARE DATA(A)
----------------------------------------------------------------------------------
NET REALIZED
AND DISTRIBUTIONS
NET ASSET NET UNREALIZED DIVIDENDS FROM
VALUE AT INVESTMENT GAIN FROM NET REALIZED DISTRIBUTIONS
BEGINNING INCOME (LOSS) ON INVESTMENT CAPITAL FROM
OF PERIOD (LOSS) INVESTMENTS INCOME GAINS CAPITAL
--------- ---------- ------------ ---------- ------------- -------------
THE HARTFORD INTERNATIONAL
SMALL COMPANY FUND
For the Six-Month Period
Ended April 30, 2003
Class A...................... 8.37 0.03 1.23 (0.02) -- --
Class B...................... 8.34 0.01 1.21 -- -- --
Class C...................... 8.28 0.01 1.21 -- -- --
Class Y...................... 8.43 0.05 1.24 (0.06) -- --
For the Year Ended October
31, 2002(g)
Class A...................... 8.82 0.03 (0.48) -- -- --
Class B...................... 8.81 (0.02) (0.45) -- -- --
Class C...................... 8.78 (0.03) (0.47) -- -- --
Class Y...................... 8.84 0.09 (0.50) -- -- --
From inception April 30,
2001, through October 31,
2001
Class A...................... 10.00 0.04 (1.22) -- -- --
Class B...................... 10.00 -- (1.19) -- -- --
Class C...................... 10.00 0.01 (1.23) -- -- --
Class Y...................... 10.00 0.06 (1.22) -- -- --
THE HARTFORD MIDCAP FUND
For the Six-Month Period
Ended April 30, 2003
Class A...................... 15.50 (0.04) 1.42 -- -- --
Class B...................... 14.93 (0.09) 1.36 -- -- --
Class C...................... 14.94 (0.09) 1.37 -- -- --
Class Y...................... 15.88 -- 1.46 -- -- --
For the Year Ended October
31, 2002(g)
Class A...................... 16.57 (0.10) (0.97) -- -- --
Class B...................... 16.07 (0.21) (0.93) -- -- --
Class C...................... 16.08 (0.21) (0.93) -- -- --
Class Y...................... 16.89 (0.02) (0.99) -- -- --
For the Year Ended October
31, 2001
Class A...................... 22.42 (0.03) (3.89) -- (1.93) --
Class B...................... 21.96 (0.09) (3.87) -- (1.93) --
Class C...................... 21.96 (0.12) (3.83) -- (1.93) --
Class Y...................... 22.72 -- (3.90) -- (1.93) --
For the Ten Months Ended
October 31, 2000
Class A...................... 17.78 (0.03) 5.37 -- (0.70) --
Class B...................... 17.54 (0.07) 5.19 -- (0.70) --
Class C...................... 17.53 (0.10) 5.23 -- (0.70) --
Class Y...................... 17.94 (0.01) 5.49 -- (0.70) --
For the Year Ended December
31, 1999
Class A...................... 12.30 (0.03) 6.08 -- (0.57) --
Class B...................... 12.22 (0.03) 5.92 -- (0.57) --
Class C...................... 12.21(f) (0.04)(f) 5.93(f) -- (0.57)(f) --
Class Y...................... 12.35 (0.02) 6.18 -- (0.57) --
For the Year Ended December
31, 1998
Class A...................... 10.00 (0.05) 2.35 -- -- --
Class B...................... 10.00 (0.10) 2.32 -- -- --
Class Y...................... 10.00 (0.02) 2.37 -- -- --
From inception August 1,
1998, through December 31,
1998
Class C...................... 11.23(f) (0.03)(f) 1.01(f) -- -- --
<Caption>
RATIOS AND SUPPLEMENTAL DATA
------------------------------------------------------------------------------------------
RATIO OF RATIO OF RATIO OF
EXPENSES EXPENSES NET
NET ASSET NET ASSETS TO AVERAGE TO AVERAGE INVESTMENT
VALUE AT AT END OF NET ASSETS NET ASSETS INCOME PORTFOLIO
END OF TOTAL PERIOD BEFORE AFTER TO AVERAGE TURNOVER
PERIOD RETURN(C) (000'S) WAIVERS WAIVERS NET ASSETS RATE(E)
--------- --------- ---------- ---------- ---------- ---------- ---------
THE HARTFORD INTERNATIONAL
SMALL COMPANY FUND
For the Six-Month Period
Ended April 30, 2003
Class A...................... 9.61 15.02(d) 6,767 2.55(b) 1.65(b) 0.91(b) 64
Class B...................... 9.56 14.63(d) 1,181 3.26(b) 2.35(b) 0.22(b) --
Class C...................... 9.50 14.73(d) 1,208 3.09(b) 2.35(b) 0.18(b) --
Class Y...................... 9.66 15.35(d) 1,688 1.94(b) 1.20(b) 1.54(b) --
For the Year Ended October
31, 2002(g)
Class A...................... 8.37 (5.10) 4,598 3.09 1.65 0.44 194
Class B...................... 8.34 (5.34) 926 3.81 2.35 (0.26) --
Class C...................... 8.28 (5.70) 859 3.53 2.35 (0.26) --
Class Y...................... 8.43 (4.64) 969 1.91 1.20 0.89 --
From inception April 30,
2001, through October 31,
2001
Class A...................... 8.82 (11.80)(d) 2,156 3.46(b) 1.65(b) 0.86(b) 128
Class B...................... 8.81 (11.90)(d) 275 4.12(b) 2.35(b) 0.16(b) --
Class C...................... 8.78 (12.20)(d) 425 4.12(b) 2.35(b) 0.16(b) --
Class Y...................... 8.84 (11.60)(d) 265 2.92(b) 1.20(b) 1.31(b) --
THE HARTFORD MIDCAP FUND
For the Six-Month Period
Ended April 30, 2003
Class A...................... 16.88 8.90(d) 888,573 1.56(b) 1.47(b) (0.52)(b) 38
Class B...................... 16.20 8.51(d) 308,059 2.26(b) 2.19(b) (1.24)(b) --
Class C...................... 16.22 8.57(d) 324,529 2.14(b) 2.14(b) (1.19)(b) --
Class Y...................... 17.34 9.19(d) 51,419 0.93(b) 0.93(b) 0.02(b) --
For the Year Ended October
31, 2002(g)
Class A...................... 15.50 (6.46) 704,238 1.56 1.45 (0.65) 109
Class B...................... 14.93 (7.09) 266,650 2.24 2.15 (1.35) --
Class C...................... 14.94 (7.09) 275,305 2.12 2.12 (1.31) --
Class Y...................... 15.88 (5.98) 27,319 0.92 0.92 (0.08) --
For the Year Ended October
31, 2001
Class A...................... 16.57 (18.94) 612,750 1.43 1.38 (0.53) 116
Class B...................... 16.07 (19.58) 265,683 2.11 2.11 (1.28) --
Class C...................... 16.08 (19.53) 285,908 2.09 2.09 (1.24) --
Class Y...................... 16.89 (18.58) 52,576 0.88 0.88 (0.03) --
For the Ten Months Ended
October 31, 2000
Class A...................... 22.42 30.50(d) 425,686 1.48(b) 1.43(b) (0.80)(b) 110
Class B...................... 21.96 29.72(d) 185,830 2.15(b) 2.15(b) (1.52)(b) --
Class C...................... 21.96 29.72(d) 217,965 2.14(b) 2.14(b) (1.51)(b) --
Class Y...................... 22.72 31.01(d) 62,343 0.96(b) 0.96(b) (0.33)(b) --
For the Year Ended December
31, 1999
Class A...................... 17.78 50.17 118,194 1.51 1.45 (0.79) 123
Class B...................... 17.54 49.10 50,301 2.17 2.15 (1.48) --
Class C...................... 17.53(f) 49.22 48,310 2.22 2.15 (1.48) --
Class Y...................... 17.94 50.87 17,997 0.97 0.97 (0.31) --
For the Year Ended December
31, 1998
Class A...................... 12.30 23.12 24,294 1.62 1.45 (0.78) 139
Class B...................... 12.22 22.32 8,403 2.31 2.15 (1.48) --
Class Y...................... 12.35 23.62 3,750 1.12 1.00 (0.33) --
From inception August 1,
1998, through December 31,
1998
Class C...................... 12.21(f) 8.70(d) 1,077 2.57(b) 2.15(b) (1.45)(b) --
</Table>
- ---------------
(a) Information presented relates to a share of capital share outstanding
throughout the indicated period.
(b) Annualized.
(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) Not annualized.
(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 restated to reflect a reverse stock split for
Class C shares effective February 11, 1999.
(g) Per share amounts have been calculated using average shares outstanding
method.
See Notes to Financial Statements.
190
- --------------------------------------------------------------------------------
<Table>
<Caption>
SELECTED PER-SHARE DATA(A)
----------------------------------------------------------------------------------
NET REALIZED
AND DISTRIBUTIONS
NET ASSET NET UNREALIZED DIVIDENDS FROM
VALUE AT INVESTMENT GAIN FROM NET REALIZED DISTRIBUTIONS
BEGINNING INCOME (LOSS) ON INVESTMENT CAPITAL FROM
OF PERIOD (LOSS) INVESTMENTS INCOME GAINS CAPITAL
--------- ---------- ------------ ---------- ------------- -------------
THE HARTFORD MIDCAP VALUE FUND
For the Six-Month Period
Ended April 30, 2003
Class A...................... 8.34 (0.01) 0.59 -- -- --
Class B...................... 8.25 (0.04) 0.59 -- -- --
Class C...................... 8.25 (0.04) 0.59 -- -- --
Class Y...................... 8.39 0.01 0.60 -- -- --
For the Year Ended October
31, 2002(g)
Class A...................... 8.48 (0.02) (0.12) -- -- --
Class B...................... 8.46 (0.09) (0.12) -- -- --
Class C...................... 8.46 (0.09) (0.12) -- -- --
Class Y...................... 8.50 0.01 (0.12) -- -- --
From inception April 30,
2001, through October 31,
2001
Class A...................... 10.00 (0.01) (1.51) -- -- --
Class B...................... 10.00 (0.02) (1.52) -- -- --
Class C...................... 10.00 (0.02) (1.52) -- -- --
Class Y...................... 10.00 (0.01) (1.49) -- -- --
THE HARTFORD MONEY MARKET FUND
For the Six-Month Period
Ended April 30, 2003
Class A...................... 1.00 0.002 -- (0.002) -- --
Class B...................... 1.00 -- -- -- -- --
Class C...................... 1.00 -- -- -- -- --
Class Y...................... 1.00 0.005 -- (0.005) -- --
For the Year Ended October
31, 2002(g)
Class A...................... 1.00 0.011 -- (0.011) -- --
Class B...................... 1.00 0.004 -- (0.004) -- --
Class C...................... 1.00 0.004 -- (0.004) -- --
Class Y...................... 1.00 0.017 -- (0.017) -- --
For the Year Ended October
31, 2001
Class A...................... 1.00 0.04 -- (0.04) -- --
Class B...................... 1.00 0.03 -- (0.03) -- --
Class C...................... 1.00 0.03 -- (0.03) -- --
Class Y...................... 1.00 0.04 -- (0.04) -- --
For the Ten Months Ended
October 31, 2000
Class A...................... 1.00 0.04 -- (0.04) -- --
Class B...................... 1.00 0.04 -- (0.04) -- --
Class C...................... 1.00 0.04 -- (0.04) -- --
Class Y...................... 1.00 0.05 -- (0.05) -- --
For the Year Ended December
31, 1999
Class A...................... 1.00 0.04 -- (0.04) -- --
Class B...................... 1.00 0.04 -- (0.04) -- --
Class C...................... 1.00 0.04 -- (0.04) -- --
Class Y...................... 1.00 0.05 -- (0.05) -- --
For the Year Ended December
31, 1998
Class A...................... 1.00 0.05 -- (0.05) -- --
Class B...................... 1.00 0.04 -- (0.04) -- --
Class Y...................... 1.00 0.05 -- (0.05) -- --
From inception August 1,
1998, through December 31,
1998
Class C...................... 1.00 0.02 -- (0.02) -- --
For the Year Ended December
31, 1997
Class A...................... 1.00 0.05 -- (0.05) -- --
Class Y...................... 1.00 0.05 -- (0.05) -- --
From inception August 22,
1997 to December 31, 1997
Class B...................... 1.00 0.01 -- (0.01) -- --
<Caption>
RATIOS AND SUPPLEMENTAL DATA
------------------------------------------------------------------------------------------
RATIO OF RATIO OF RATIO OF
EXPENSES EXPENSES NET
NET ASSET NET ASSETS TO AVERAGE TO AVERAGE INVESTMENT
VALUE AT AT END OF NET ASSETS NET ASSETS INCOME PORTFOLIO
END OF TOTAL PERIOD BEFORE AFTER TO AVERAGE TURNOVER
PERIOD RETURN(C) (000'S) WAIVERS WAIVERS NET ASSETS RATE(E)
--------- --------- ---------- ---------- ---------- ---------- ---------
THE HARTFORD MIDCAP VALUE FUND
For the Six-Month Period
Ended April 30, 2003
Class A...................... 8.92 6.95(d) 103,868 1.68(b) 1.45(b) (0.32)(b) 24
Class B...................... 8.80 6.67(d) 29,103 2.38(b) 2.15(b) (1.02)(b) --
Class C...................... 8.80 6.67(d) 35,008 2.26(b) 2.15(b) (1.02)(b) --
Class Y...................... 9.00 7.27(d) 270 1.06(b) 1.00(b) 0.13(b) --
For the Year Ended October
31, 2002(g)
Class A...................... 8.34 (1.65) 94,532 1.68 1.45 (0.23) 40
Class B...................... 8.25 (2.48) 26,556 2.38 2.15 (0.95) --
Class C...................... 8.25 (2.48) 32,274 2.27 2.15 (0.96) --
Class Y...................... 8.39 (1.29) 252 1.02 1.00 0.23 --
From inception April 30,
2001, through October 31,
2001
Class A...................... 8.48 (15.20)(d) 26,812 1.69(b) 1.40(b) (0.20)(b) 28
Class B...................... 8.46 (15.40)(d) 7,158 2.38(b) 2.10(b) (0.90)(b) --
Class C...................... 8.46 (15.40)(d) 8,975 2.37(b) 2.10(b) (0.90)(b) --
Class Y...................... 8.50 (15.00)(d) 255 1.11(b) 0.95(b) 0.25(b) --
THE HARTFORD MONEY MARKET FUND
For the Six-Month Period
Ended April 30, 2003
Class A...................... 1.00 0.24(d) 284,905 1.29(b) 1.00(b) 0.48(b) N/A
Class B...................... 1.00 0.00(d) 94,665 1.99(b) 1.46(b)(h) 0.01(b) --
Class C...................... 1.00 0.00(d) 44,868 1.92(b) 1.47(b)(h) 0.01(b) --
Class Y...................... 1.00 0.46(d) 1,697 0.74(b) 0.55(b) 0.94(b) --
For the Year Ended October
31, 2002(g)
Class A...................... 1.00 1.09 302,862 1.30 1.00 1.06 N/A
Class B...................... 1.00 0.43 99,048 1.96 1.70 0.37 --
Class C...................... 1.00 0.42 65,894 1.82 1.70 0.37 --
Class Y...................... 1.00 1.72 2,815 0.62 0.55 1.51 --
For the Year Ended October
31, 2001
Class A...................... 1.00 4.02 86,748 1.19 1.00 3.63 N/A
Class B...................... 1.00 3.31 48,998 1.85 1.70 2.93 --
Class C...................... 1.00 3.31 53,873 1.82 1.70 2.93 --
Class Y...................... 1.00 4.49 33,309 0.61 0.55 4.08 --
For the Ten Months Ended
October 31, 2000
Class A...................... 1.00 4.54(d) 43,897 1.20(b) 1.00(b) 5.35(b) N/A
Class B...................... 1.00 3.94(d) 14,974 1.85(b) 1.70(b) 4.65(b) --
Class C...................... 1.00 3.93(d) 6,842 1.85(b) 1.70(b) 4.65(b) --
Class Y...................... 1.00 4.94(d) 18,325 0.65(b) 0.55(b) 5.80(b) --
For the Year Ended December
31, 1999
Class A...................... 1.00 4.32 44,663 1.15 1.00 4.25 N/A
Class B...................... 1.00 3.59 25,762 1.81 1.70 3.55 --
Class C...................... 1.00 3.59 9,904 1.84 1.70 3.56 --
Class Y...................... 1.00 4.80 8,953 0.64 0.55 4.70 --
For the Year Ended December
31, 1998
Class A...................... 1.00 4.69 29,424 1.25 1.00 4.57 N/A
Class B...................... 1.00 3.97 11,936 1.86 1.70 3.83 --
Class Y...................... 1.00 5.16 5,320 0.71 0.55 4.99 --
From inception August 1,
1998, through December 31,
1998
Class C...................... 1.00 1.58(d) 1,203 2.02(b) 1.70(b) 3.57(b) --
For the Year Ended December
31, 1997
Class A...................... 1.00 4.73 22,578 1.28 1.00 4.67 N/A
Class Y...................... 1.00 5.23 2,638 0.82 0.55 5.13 --
From inception August 22,
1997 to December 31, 1997
Class B...................... 1.00 1.45(d) 4,449 3.63(b) 1.70(b) 3.92(b) --
</Table>
- ---------------
(a) Information presented relates to a share of capital share outstanding
throughout the indicated period.
(b) Annualized.
(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) Not annualized.
(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 restated to reflect a reverse stock split for
Class C shares effective February 11, 1999.
(g) Per share amounts have been calculated using average shares outstanding
method.
(h) Expense ratio includes a practical waiver of 12b-1 fees.
191
HARTFORD MUTUAL FUNDS, INC. AND HARTFORD MUTUAL FUNDS II, INC.
FINANCIAL HIGHLIGHTS -- (CONTINUED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
SELECTED PER-SHARE DATA(A)
----------------------------------------------------------------------------------
NET REALIZED
AND DISTRIBUTIONS
NET ASSET NET UNREALIZED DIVIDENDS FROM
VALUE AT INVESTMENT GAIN FROM NET REALIZED DISTRIBUTIONS
BEGINNING INCOME (LOSS) ON INVESTMENT CAPITAL FROM
OF PERIOD (LOSS) INVESTMENTS INCOME GAINS CAPITAL
--------- ---------- ------------ ---------- ------------- -------------
THE HARTFORD SHORT DURATION
FUND
From inception October 31,
2002, through April 30,
2003
Class A...................... 10.00 0.15 0.18 (0.15) -- --
Class B...................... 10.00 0.12 0.18 (0.12) -- --
Class C...................... 10.00 0.12 0.18 (0.12) -- --
THE HARTFORD SMALL COMPANY
FUND
For the Six-Month Period
Ended April 30, 2003
Class A...................... 9.93 (0.06) 0.63 -- -- --
Class B...................... 9.46 (0.09) 0.60 -- -- --
Class C...................... 9.47 (0.09) 0.60 -- -- --
Class Y...................... 10.27 (0.04) 0.65 -- -- --
For the Year Ended October
31, 2002(g)
Class A...................... 12.00 (0.12) (1.95) -- -- --
Class B...................... 11.52 (0.20) (1.86) -- -- --
Class C...................... 11.53 (0.20) (1.86) -- -- --
Class Y...................... 12.35 (0.06) (2.02) -- -- --
For the Year Ended October
31, 2001
Class A...................... 18.08 (0.08) (5.41) -- (0.59) --
Class B...................... 17.49 (0.16) (5.22) -- (0.59) --
Class C...................... 17.51 (0.19) (5.20) -- (0.59) --
Class Y...................... 18.50 (0.02) (5.54) -- (0.59) --
For the Ten Months Ended
October 31, 2000
Class A...................... 20.48 (0.04) (1.47) -- (0.89) --
Class B...................... 19.96 (0.11) (1.47) -- (0.89) --
Class C...................... 19.97 (0.12) (1.45) -- (0.89) --
Class Y...................... 20.84 (0.02) (1.43) -- (0.89) --
For the Year Ended December
31, 1999
Class A...................... 13.31 (0.05) 8.52 -- (1.30) --
Class B...................... 13.09 (0.09) 8.26 -- (1.30) --
Class C...................... 13.09(f) (0.08)(f) 8.26(f) -- (1.30)(f) --
Class Y...................... 13.47 (0.03) 8.70 -- (1.30) --
For the Year Ended December
31, 1998
Class A...................... 12.16 (0.06) 1.33 -- (0.12) --
Class B...................... 12.04 (0.12) 1.29 -- (0.12) --
Class Y...................... 12.24 (0.03) 1.38 -- (0.12) --
From inception August 1,
1998, through December 31,
1998
Class C...................... 12.49(f) (0.02)(f) 0.62(f) -- -- --
For the Year Ended December
31, 1997
Class A...................... 10.68 (0.02) 2.05 -- (0.55) --
Class B...................... 10.65 (0.03) 1.97 -- (0.55) --
Class Y...................... 10.71 (0.01) 2.09 -- (0.55) --
<Caption>
RATIOS AND SUPPLEMENTAL DATA
------------------------------------------------------------------------------------------
RATIO OF RATIO OF RATIO OF
EXPENSES EXPENSES NET
NET ASSET NET ASSETS TO AVERAGE TO AVERAGE INVESTMENT
VALUE AT AT END OF NET ASSETS NET ASSETS INCOME PORTFOLIO
END OF TOTAL PERIOD BEFORE AFTER TO AVERAGE TURNOVER
PERIOD RETURN(C) (000'S) WAIVERS WAIVERS NET ASSETS RATE(E)
--------- --------- ---------- ---------- ---------- ---------- ---------
THE HARTFORD SHORT DURATION
FUND
From inception October 31,
2002, through April 30,
2003
Class A...................... 10.18 3.33(d) 21,637 1.28(b) 0.95(b) 3.47(b) 74
Class B...................... 10.18 2.99(d) 7,457 2.00(b) 1.65(b) 2.89(b) --
Class C...................... 10.18 2.99(d) 20,483 1.87(b) 1.65(b) 2.92(b) --
THE HARTFORD SMALL COMPANY
FUND
For the Six-Month Period
Ended April 30, 2003
Class A...................... 10.50 5.74(d) 97,349 1.72(b) 1.45(b) (1.14)(b) 87
Class B...................... 9.97 5.39(d) 41,288 2.42(b) 2.15(b) (1.84)(b) --
Class C...................... 9.98 5.39(d) 37,886 2.29(b) 2.15(b) (1.84)(b) --
Class Y...................... 10.88 5.94(d) 9,804 1.09(b) 1.00(b) (0.68)(b) --
For the Year Ended October
31, 2002(g)
Class A...................... 9.93 (17.25) 96,302 1.64 1.45 (0.97) 226
Class B...................... 9.46 (17.88) 41,439 2.31 2.15 (1.67) --
Class C...................... 9.47 (17.87) 38,938 2.20 2.15 (1.65) --
Class Y...................... 10.27 (16.84) 10,834 1.00 1.00 (0.53) --
For the Year Ended October
31, 2001
Class A...................... 12.00 (31.36) 116,398 1.51 1.45 (0.64) 224
Class B...................... 11.52 (31.80) 49,738 2.19 2.15 (1.34) --
Class C...................... 11.53 (31.82) 51,234 2.17 2.15 (1.34) --
Class Y...................... 12.35 (31.02) 33,473 0.95 0.95 (0.14) --
For the Ten Months Ended
October 31, 2000
Class A...................... 18.08 (7.70)(d) 164,280 1.50(b) 1.45(b) (0.72)(b) 158
Class B...................... 17.49 (8.26)(d) 71,323 2.16(b) 2.15(b) (1.42)(b) --
Class C...................... 17.51 (8.21)(d) 77,337 2.16(b) 2.15(b) (1.42)(b) --
Class Y...................... 18.50 (7.27)(d) 46,205 0.96(b) 0.96(b) (0.23)(b) --
For the Year Ended December
31, 1999
Class A...................... 20.48 65.66 109,559 1.51 1.45 (0.92) 177
Class B...................... 19.96 64.46 53,358 2.15 2.15 (1.62) --
Class C...................... 19.97(f) 64.58 37,672 2.20 2.15 (1.61) --
Class Y...................... 20.84 66.37 39,536 0.99 0.99 (0.46) --
For the Year Ended December
31, 1998
Class A...................... 13.31 10.46 37,623 1.57 1.45 (0.79) 267
Class B...................... 13.09 9.73 18,345 2.22 2.15 (1.49) --
Class Y...................... 13.47 11.05 13,004 1.02 1.00 (0.33) --
From inception August 1,
1998, through December 31,
1998
Class C...................... 13.09(f) 4.80(d) 2,765 2.46(b) 2.15(b) (1.49)(b) --
For the Year Ended December
31, 1997
Class A...................... 12.16 19.28 19,391 1.82 1.45 (0.61) 255
Class B...................... 12.04 18.49 9,694 2.53 2.15 (1.30) --
Class Y...................... 12.24 19.69 9,062 1.30 1.00 (0.14) --
</Table>
- ---------------
(a) Information presented relates to a share of capital share outstanding
throughout the indicated period.
(b) Annualized.
(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) Not annualized.
(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 restated to reflect a reverse stock split for
Class C shares effective February 11, 1999.
(g) Per share amounts have been calculated using average shares outstanding
method.
See Notes to Financial Statements.
192
- --------------------------------------------------------------------------------
<Table>
<Caption>
SELECTED PER-SHARE DATA(a)
----------------------------------------------------------------------------------
NET REALIZED
AND DISTRIBUTIONS
NET ASSET NET UNREALIZED DIVIDENDS FROM
VALUE AT INVESTMENT GAIN FROM NET REALIZED DISTRIBUTIONS
BEGINNING INCOME (LOSS) ON INVESTMENT CAPITAL FROM
OF PERIOD (LOSS) INVESTMENTS INCOME GAINS CAPITAL
--------- ---------- ------------ ---------- ------------- -------------
THE HARTFORD SMALLCAP GROWTH
FUND
For the Six-Month Period
Ended April 30, 2003
Class A...................... 15.57 (0.04) 0.77 -- -- --
Class B...................... 14.36 (0.09) 0.71 -- -- --
Class C...................... 14.35 (0.09) 0.71 -- -- --
Class H...................... 14.37 (0.10) 0.72 -- -- --
Class L...................... 15.56 (0.06) 0.78 -- -- --
Class M...................... 14.36 (0.10) 0.72 -- -- --
Class N...................... 14.37 (0.10) 0.72 -- -- --
Class Y...................... 15.61 (0.03) 0.78 -- -- --
For the Period February 19,
2002 through October 31,
2002
Class A...................... 20.21 (0.06) (4.58) -- -- --
Class B...................... 18.73 (0.08) (4.29) -- -- --
Class C...................... 18.73 (0.09) (4.29) -- -- --
Class Y...................... 20.21 (0.08) (4.52) -- -- --
For the Year Ended October
31, 2002
Class H...................... 17.71 (0.36) (2.65) -- (0.33) --
Class L...................... 19.04 (0.20) (2.95) -- (0.33) --
Class M...................... 17.70 (0.33) (2.68) -- (0.33) --
Class N...................... 17.71 (0.34) (2.67) -- (0.33) --
For the Two-Month Period
Ended October 31, 2001
Class H...................... 19.77 (0.04) (2.02) -- -- --
Class L...................... 21.24 (0.03) (2.17) -- -- --
Class M...................... 19.76 (0.04) (2.02) -- -- --
Class N...................... 19.77 (0.04) (2.02) -- -- --
For the Year Ended August 31,
2001
Class H...................... 57.72 (0.72) (24.24) -- (12.99) --
Class L...................... 60.44 (0.17) (26.04) -- (12.99) --
Class M...................... 57.66 (0.68) (24.23) -- (12.99) --
Class N...................... 57.71 (0.71) (24.24) -- (12.99) --
For the Year Ended August 31,
2000
Class H...................... 34.94 (0.47) 33.83 -- (10.58) --
Class L...................... 36.04 (0.44) 35.42 -- (10.58) --
Class M...................... 34.91 (0.47) 33.80 -- (10.58) --
Class N...................... 34.94 (0.47) 33.82 -- (10.58) --
For the Year Ended August 31,
1999
Class H...................... 25.92 (0.90) 18.42 -- (8.50) --
Class L...................... 26.42 (0.30) 18.42 -- (8.50) --
Class M...................... 25.90 (0.91) 18.42 -- (8.50) --
Class N...................... 25.92 (0.90) 18.42 -- (8.50) --
For the Year Ended August 31,
1998
Class H...................... 30.18 (0.43) (3.83) -- -- --
Class L...................... 30.60 (0.35) (3.83) -- -- --
Class M...................... 30.16 (0.43) (3.83) -- -- --
Class N...................... 30.18 (0.43) (3.83) -- -- --
<Caption>
RATIOS AND SUPPLEMENTAL DATA
------------------------------------------------------------------------------------------
RATIO OF RATIO OF RATIO OF
EXPENSES EXPENSES NET
NET ASSET NET ASSETS TO AVERAGE TO AVERAGE INVESTMENT
VALUE AT AT END OF NET ASSETS NET ASSETS INCOME PORTFOLIO
END OF TOTAL PERIOD BEFORE AFTER TO AVERAGE TURNOVER
PERIOD RETURN(C) (000'S) WAIVERS WAIVERS NET ASSETS RATE(E)
--------- --------- ---------- ---------- ---------- ---------- ---------
THE HARTFORD SMALLCAP GROWTH
FUND
For the Six-Month Period
Ended April 30, 2003
Class A...................... 16.30 4.69(d) 6,167 1.72(b) 1.45(b) (0.70)(b) 52
Class B...................... 14.98 4.32(d) 2,426 2.45(b) 2.15(b) (1.41)(b) --
Class C...................... 14.97 4.32(d) 2,057 2.33(b) 2.15(b) (1.41)(b) --
Class H...................... 14.99 4.31(d) 15,851 2.08(b) 2.08(b) (1.34)(b) --
Class L...................... 16.28 4.63(d) 84,651 1.53(b) 1.45(b) (0.71)(b) --
Class M...................... 14.98 4.32(d) 13,564 2.08(b) 2.08(b) (1.34)(b) --
Class N...................... 14.99 4.31(d) 4,432 2.08(b) 2.08(b) (1.34)(b) --
Class Y...................... 16.36 4.80(d) 1 1.14(b) 1.10(b) (0.39)(b) --
For the Period February 19,
2002 through October 31,
2002
Class A...................... 15.57 (22.97)(d) 3,457 1.82(b) 1.45(b) (0.93)(b) 93
Class B...................... 14.36 (23.31)(d) 1,756 2.52(b) 2.15(b) (1.60)(b) --
Class C...................... 14.35 (23.37)(d) 1,432 2.38(b) 2.15(b) (1.60)(b) --
Class Y...................... 15.61 (22.77)(d) 1 1.06(b) 1.00(b) (0.60)(b) --
For the Year Ended October
31, 2002
Class H...................... 14.37 (17.41) 16,675 2.05 2.05 (1.65) 93
Class L...................... 15.56 (16.92) 86,414 1.50 1.45 (1.06) --
Class M...................... 14.36 (17.42) 13,714 2.05 2.05 (1.65) --
Class N...................... 14.37 (17.41) 4,757 2.05 2.05 (1.65) --
For the Two-Month Period
Ended October 31, 2001
Class H...................... 17.71 (10.42)(d) 23,059 2.05(b) 2.05(b) (1.57)(b) 17
Class L...................... 19.04 (10.36)(d) 121,440 1.50(b) 1.50(b) (1.02)(b) --
Class M...................... 17.70 (10.43)(d) 18,115 2.05(b) 2.05(b) (1.57)(b) --
Class N...................... 17.71 (10.42)(d) 6,495 2.05(b) 2.05(b) (1.57)(b) --
For the Year Ended August 31,
2001
Class H...................... 19.77 (50.88) 26,051 1.94 1.94 (1.12) 151
Class L...................... 21.24 (50.60) 138,175 1.39 1.39 (0.57) --
Class M...................... 19.76 (50.84) 20,522 1.94 1.94 (1.12) --
Class N...................... 19.77 (50.87) 7,278 1.94 1.94 (1.12) --
For the Year Ended August 31,
2000
Class H...................... 57.72 114.64 50,558 1.90 1.90 (1.49) 212
Class L...................... 60.44 115.84 314,326 1.35 1.35 (0.94) --
Class M...................... 57.66 114.66 38,246 1.90 1.90 (1.49) --
Class N...................... 57.71 114.60 14,300 1.90 1.90 (1.49) --
For the Year Ended August 31,
1999
Class H...................... 34.94 79.33 20,755 2.05 2.05 (1.63) 271
Class L...................... 36.04 80.27 147,346 1.50 1.50 (1.08) --
Class M...................... 34.91 79.35 11,426 2.05 2.05 (1.63) --
Class N...................... 34.94 79.33 3,612 2.05 2.05 (1.63) --
For the Year Ended August 31,
1998
Class H...................... 25.92 (14.12) 11,933 2.07 2.07 (1.52) 47
Class L...................... 26.42 (13.66) 79,813 1.52 1.52 (0.97) --
Class M...................... 25.90 (14.12) 5,849 2.07 2.07 (1.52) --
Class N...................... 25.92 (14.12) 1,794 2.07 2.07 (1.52) --
</Table>
- ---------------
(a) Information presented relates to a share of capital share outstanding
throughout the indicated period.
(b) Annualized.
(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) Not annualized.
(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 restated to reflect a reverse stock split for
Class C shares effective February 11, 1999.
(g) Per share amounts have been calculated using average shares outstanding
method.
193
HARTFORD MUTUAL FUNDS, INC. AND HARTFORD MUTUAL FUNDS II, INC.
FINANCIAL HIGHLIGHTS -- (CONTINUED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
SELECTED PER-SHARE DATA(a)
----------------------------------------------------------------------------------
NET REALIZED
AND DISTRIBUTIONS
NET ASSET NET UNREALIZED DIVIDENDS FROM
VALUE AT INVESTMENT GAIN FROM NET REALIZED DISTRIBUTIONS
BEGINNING INCOME (LOSS) ON INVESTMENT CAPITAL FROM
OF PERIOD (LOSS) INVESTMENTS INCOME GAINS CAPITAL
--------- ---------- ------------ ---------- ------------- -------------
THE HARTFORD STOCK FUND
For the Six-Month Period
Ended April 30, 2003
Class A...................... 13.73 0.03 0.44 -- -- --
Class B...................... 13.10 (0.02) 0.42 -- -- --
Class C...................... 13.13 (0.02) 0.43 -- -- --
Class Y...................... 14.15 0.08 0.45 -- -- --
For the Year Ended October
31, 2002(g)
Class A...................... 16.89 -- (3.16) -- -- --
Class B...................... 16.24 (0.12) (3.02) -- -- --
Class C...................... 16.23 (0.08) (3.02) -- -- --
Class Y...................... 17.31 0.10 (3.26) -- -- --
For the Year Ended October
31, 2001
Class A...................... 23.40 0.02 (5.45) -- (1.08) --
Class B...................... 22.69 (0.09) (5.28) -- (1.08) --
Class C...................... 22.68 (0.08) (5.29) -- (1.08) --
Class Y...................... 23.85 0.09 (5.55) -- (1.08) --
For the Ten Months Ended
October 31, 2000
Class A...................... 23.64 (0.03) -- -- (0.21) --
Class B...................... 23.06 (0.12) (0.04) -- (0.21) --
Class C...................... 23.05 (0.11) (0.05) -- (0.21) --
Class Y...................... 23.99 0.05 0.02 -- (0.21) --
For the Year Ended December
31, 1999
Class A...................... 19.70 -- 4.36 -- (0.42) --
Class B...................... 19.36 (0.07) 4.19 -- (0.42) --
Class C...................... 19.36(f) (0.08)(f) 4.19(f) -- (0.42)(f) --
Class Y...................... 19.89 (0.01) 4.53 -- (0.42) --
For the Year Ended December
31, 1998
Class A...................... 15.16 (0.01) 4.75 -- (0.19) (0.01)
Class B...................... 15.01 (0.05) 4.60 -- (0.19) (0.01)
Class Y...................... 15.25 0.06 4.78 -- (0.19) (0.01)
From inception August 1,
1998, through December 31,
1998
Class C...................... 18.53(f) (0.02)(f) 1.22(f) -- (0.35)(f) (0.02)(f)
For the Year Ended December
31, 1997
Class A...................... 11.53 -- 3.66 -- (0.03) --
Class B...................... 11.50 (0.02) 3.56 -- (0.03) --
Class Y...................... 11.55 0.03 3.70 -- (0.03) --
THE HARTFORD TAX-FREE
CALIFORNIA FUND
From inception October 31,
2002, through April 30,
2003
Class A...................... 10.00 0.16 0.16 (0.16) -- --
Class B...................... 10.00 0.13 0.16 (0.13) -- --
Class C...................... 10.00 0.13 0.16 (0.13) -- --
<Caption>
RATIOS AND SUPPLEMENTAL DATA
------------------------------------------------------------------------------------------
RATIO OF RATIO OF RATIO OF
EXPENSES EXPENSES NET
NET ASSET NET ASSETS TO AVERAGE TO AVERAGE INVESTMENT
VALUE AT AT END OF NET ASSETS NET ASSETS INCOME PORTFOLIO
END OF TOTAL PERIOD BEFORE AFTER TO AVERAGE TURNOVER
PERIOD RETURN(C) (000'S) WAIVERS WAIVERS NET ASSETS RATE(E)
--------- --------- ---------- ---------- ---------- ---------- ---------
THE HARTFORD STOCK FUND
For the Six-Month Period
Ended April 30, 2003
Class A...................... 14.20 3.42(d) 873,429 1.49(b) 1.47(b) 0.40(b) 22
Class B...................... 13.50 3.05(d) 341,045 2.23(b) 2.18(b) (0.31)(b) --
Class C...................... 13.54 3.12(d) 294,782 2.11(b) 2.11(b) (0.24)(b) --
Class Y...................... 14.68 3.74(d) 30,619 0.88(b) 0.88(b) 1.01(b) --
For the Year Ended October
31, 2002(g)
Class A...................... 13.73 (18.71) 880,371 1.47 1.42 (0.01) 48
Class B...................... 13.10 (19.34) 351,382 2.15 2.15 (0.74) --
Class C...................... 13.13 (19.10) 313,173 2.03 2.03 (0.62) --
Class Y...................... 14.15 (18.26) 34,116 0.85 0.85 0.58 --
For the Year Ended October
31, 2001
Class A...................... 16.89 (24.28) 1,031,549 1.33 1.28 0.05 38
Class B...................... 16.24 (24.80) 470,035 2.00 2.00 (0.67) --
Class C...................... 16.23 (24.81) 430,238 1.99 1.99 (0.66) --
Class Y...................... 17.31 (23.93) 27,004 0.79 0.79 0.54 --
For the Ten Months Ended
October 31, 2000
Class A...................... 23.40 (0.14)(d) 1,067,970 1.32(b) 1.27(b) (0.19)(b) 38
Class B...................... 22.69 (0.71)(d) 578,402 1.99(b) 1.99(b) (0.90)(b) --
Class C...................... 22.68 (0.71)(d) 492,996 1.98(b) 1.98(b) (0.90)(b) --
Class Y...................... 23.85 0.28(d) 32,123 0.80(b) 0.80(b) 0.28(b) --
For the Year Ended December
31, 1999
Class A...................... 23.64 22.31 752,763 1.38 1.33 (0.06) 34
Class B...................... 23.06 21.46 462,318 2.03 2.03 (0.75) --
Class C...................... 23.05(f) 21.40 305,566 2.07 2.07 (0.78) --
Class Y...................... 23.99 22.91 31,129 0.91 0.91 0.36 --
For the Year Ended December
31, 1998
Class A...................... 19.70 31.33 268,226 1.49 1.44 (0.07) 37
Class B...................... 19.36 30.38 185,205 2.16 2.15 (0.77) --
Class Y...................... 19.89 31.80 7,919 0.96 0.96 0.36 --
From inception August 1,
1998, through December 31,
1998
Class C...................... 19.36(f) 6.60(d) 36,039 2.24(b) 2.15(b) (0.76)(b) --
For the Year Ended December
31, 1997
Class A...................... 15.16 31.78 65,763 1.69 1.45 0.06 43
Class B...................... 15.01 30.82 35,294 2.38 2.15 (0.66) --
Class Y...................... 15.25 32.33 5,510 1.11 1.00 0.53 --
THE HARTFORD TAX-FREE
CALIFORNIA FUND
From inception October 31,
2002, through April 30,
2003
Class A...................... 10.16 3.28(d) 9,867 1.51(b) 0.95(b) 3.40(b) 43
Class B...................... 10.16 2.92(d) 1,648 2.25(b) 1.65(b) 2.74(b) --
Class C...................... 10.16 2.92(d) 1,189 2.12(b) 1.65(b) 2.68(b) --
</Table>
- ---------------
(a) Information presented relates to a share of capital share outstanding
throughout the indicated period.
(b) Annualized.
(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) Not annualized.
(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 restated to reflect a reverse stock split for
Class C shares effective February 11, 1999.
(g) Per share amounts have been calculated using average shares outstanding
method.
See Notes to Financial Statements.
194
- --------------------------------------------------------------------------------
<Table>
<Caption>
SELECTED PER-SHARE DATA(a)
----------------------------------------------------------------------------------
NET REALIZED
AND DISTRIBUTIONS
NET ASSET NET UNREALIZED DIVIDENDS FROM
VALUE AT INVESTMENT GAIN FROM NET REALIZED DISTRIBUTIONS
BEGINNING INCOME (LOSS) ON INVESTMENT CAPITAL FROM
OF PERIOD (LOSS) INVESTMENTS INCOME GAINS CAPITAL
--------- ---------- ------------ ---------- ------------- -------------
THE TAX-FREE MINNESOTA FUND
For the Six-Month Period
Ended April 30, 2003
Class A...................... 10.46 0.18 0.13 (0.19) (0.05) --
Class B...................... 10.47 0.15 0.12 (0.15) (0.05) --
Class C...................... 10.48 0.15 0.13 (0.15) (0.05) --
Class E...................... 10.53 0.20 0.13 (0.21) (0.05) --
Class H...................... 10.52 0.17 0.11 (0.16) (0.05) --
Class L...................... 10.49 0.19 0.13 (0.19) (0.05) --
Class M...................... 10.49 0.15 0.14 (0.16) (0.05) --
Class N...................... 10.51 0.15 0.14 (0.16) (0.05) --
Class Y...................... 10.49 0.20 0.13 (0.21) (0.05) --
For the Period February 19,
2002 through October 31,
2002
Class A...................... 10.29 0.26 0.16 (0.25) -- --
Class B...................... 10.27 0.20 0.20 (0.20) -- --
Class C...................... 10.27 0.20 0.21 (0.20) -- --
Class Y...................... 10.29 0.29 0.20 (0.29) -- --
For the Year Ended October
31, 2002
Class E...................... 10.45 0.40 0.07 (0.39) -- --
Class H...................... 10.44 0.29 0.07 (0.28) -- --
Class L...................... 10.42 0.37 0.06 (0.36) -- --
Class M...................... 10.42 0.29 0.06 (0.28) -- --
Class N...................... 10.44 0.29 0.06 (0.28) -- --
For the One-Month Period
Ended October 31, 2001
Class E...................... 10.35 0.04 0.10 (0.04) -- --
Class H...................... 10.34 0.03 0.10 (0.03) -- --
Class L...................... 10.31 0.04 0.11 (0.04) -- --
Class M...................... 10.31 0.03 0.11 (0.03) -- --
Class N...................... 10.34 0.03 0.10 (0.03) -- --
For the Year Ended September
30, 2001
Class E...................... 9.91 0.48 0.45 (0.49) -- --
Class H...................... 9.91 0.38 0.44 (0.39) -- --
Class L...................... 9.88 0.45 0.45 (0.47) -- --
Class M...................... 9.88 0.38 0.44 (0.39) -- --
Class N...................... 9.90 0.38 0.45 (0.39) -- --
For the Year Ended September
30, 2000
Class E...................... 9.94 0.51 (0.04) (0.50) -- --
Class H...................... 9.93 0.42 (0.04) (0.40) -- --
Class L...................... 9.91 0.48 (0.04) (0.47) -- --
Class M...................... 9.90 0.42 (0.04) (0.40) -- --
Class N...................... 9.93 0.41 (0.04) (0.40) -- --
For the Year Ended September
30, 1999
Class E...................... 10.77 0.50 (0.67) (0.49) (0.17) --
Class H...................... 10.76 0.39 (0.67) (0.38) (0.17) --
Class L...................... 10.74 0.47 (0.67) (0.46) (0.17) --
Class M...................... 10.73 0.39 (0.67) (0.38) (0.17) --
Class N...................... 10.73 0.42 (0.67) (0.38) (0.17) --
For the Year Ended September
30, 1998
Class E...................... 10.46 0.52 0.32 (0.52) (0.01) --
Class H...................... 10.44 0.42 0.32 (0.41) (0.01) --
Class L...................... 10.43 0.49 0.32 (0.49) (0.01) --
Class M...................... 10.42 0.41 0.32 (0.41) (0.01) --
Class N...................... 10.44 0.39 0.32 (0.41) (0.01) --
<Caption>
RATIOS AND SUPPLEMENTAL DATA
------------------------------------------------------------------------------------------
RATIO OF RATIO OF RATIO OF
EXPENSES EXPENSES NET
NET ASSET NET ASSETS TO AVERAGE TO AVERAGE INVESTMENT
VALUE AT AT END OF NET ASSETS NET ASSETS INCOME PORTFOLIO
END OF TOTAL PERIOD BEFORE AFTER TO AVERAGE TURNOVER
PERIOD RETURN(C) (000'S) WAIVERS WAIVERS NET ASSETS RATE(E)
--------- --------- ---------- ---------- ---------- ---------- ---------
THE TAX-FREE MINNESOTA FUND
For the Six-Month Period
Ended April 30, 2003
Class A...................... 10.53 3.02(d) 3,156 1.45(b) 1.15(b) 3.53(b) 7
Class B...................... 10.54 2.67(d) 653 2.10(b) 1.85(b) 2.84(b) --
Class C...................... 10.56 2.77(d) 402 2.02(b) 1.85(b) 2.83(b) --
Class E...................... 10.60 3.20(d) 31,286 0.79(b) 0.79(b) 3.88(b) --
Class H...................... 10.59 2.68(d) 361 1.79(b) 1.79(b) 2.87(b) --
Class L...................... 10.57 3.17(d) 2,956 1.04(b) 1.04(b) 3.63(b) --
Class M...................... 10.57 2.78(d) 560 1.79(b) 1.79(b) 2.88(b) --
Class N...................... 10.59 2.78(d) 214 1.79(b) 1.79(b) 2.88(b) --
Class Y...................... 10.56 3.25(d) 1 0.89(b) 0.80(b) 3.85(b) --
For the Period February 19,
2002 through October 31,
2002
Class A...................... 10.46 4.16(d) 2,073 1.37(b) 1.15(b) 3.57(b) 36
Class B...................... 10.47 3.93(d) 238 2.09(b) 1.85(b) 2.73(b) --
Class C...................... 10.48 4.03(d) 304 1.92(b) 1.85(b) 2.79(b) --
Class Y...................... 10.49 4.92(d) 1 0.74(b) 0.74(b) 3.83(b) --
For the Year Ended October
31, 2002
Class E...................... 10.53 4.58 31,414 0.79 0.79 3.81 36
Class H...................... 10.52 3.56 577 1.81 1.81 2.81 --
Class L...................... 10.49 4.22 3,344 1.04 1.04 3.56 --
Class M...................... 10.49 3.46 562 1.79 1.79 2.81 --
Class N...................... 10.51 3.46 203 1.79 1.79 2.81 --
For the One-Month Period
Ended October 31, 2001
Class E...................... 10.45 1.33(d) 32,533 0.84(b) 0.84(b) 4.28(b) --
Class H...................... 10.44 1.25(d) 1,094 1.84(b) 1.84(b) 3.28(b) --
Class L...................... 10.42 1.41(d) 3,543 1.09(b) 1.09(b) 4.03(b) --
Class M...................... 10.42 1.35(d) 772 1.84(b) 1.84(b) 3.28(b) --
Class N...................... 10.44 1.25(d) 203 1.84(b) 1.84(b) 3.28(b) --
For the Year Ended September
30, 2001
Class E...................... 10.35 9.58 32,259 0.85 0.85 4.70 18
Class H...................... 10.34 8.43 1,086 1.85 1.85 3.70 --
Class L...................... 10.31 9.24 3,570 1.10 1.10 4.45 --
Class M...................... 10.31 8.45 789 1.85 1.85 3.70 --
Class N...................... 10.34 8.55 200 1.85 1.85 3.70 --
For the Year Ended September
30, 2000
Class E...................... 9.91 4.87 33,088 0.86 0.86 5.12 56
Class H...................... 9.91 3.95 1,076 1.86 1.86 4.12 --
Class L...................... 9.88 4.63 3,454 1.11 1.11 4.87 --
Class M...................... 9.88 3.96 829 1.86 1.86 4.12 --
Class N...................... 9.90 3.84 255 1.86 1.86 4.12 --
For the Year Ended September
30, 1999
Class E...................... 9.94 (1.71) 37,396 0.86 0.86 4.73 55
Class H...................... 9.93 (2.73) 1,401 1.86 1.86 3.73 --
Class L...................... 9.91 (1.94) 3,240 1.11 1.11 4.48 --
Class M...................... 9.90 (2.73) 860 1.86 1.86 3.73 --
Class N...................... 9.93 (2.45) 247 1.86 1.86 3.73 --
For the Year Ended September
30, 1998
Class E...................... 10.77 8.25 42,170 0.91 0.91 4.94 55
Class H...................... 10.76 7.26 1,458 1.91 1.91 3.94 --
Class L...................... 10.74 8.13 3,170 1.16 1.16 4.69 --
Class M...................... 10.73 7.18 1,271 1.91 1.91 3.94 --
Class N...................... 10.73 6.97 194 1.91 1.91 3.94 --
</Table>
- ---------------
(a) Information presented relates to a share of capital share outstanding
throughout the indicated period.
(b) Annualized.
(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) Not annualized.
(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 restated to reflect a reverse stock split for
Class C shares effective February 11, 1999.
(g) Per share amounts have been calculated using average shares outstanding
method.
195
HARTFORD MUTUAL FUNDS, INC. AND HARTFORD MUTUAL FUNDS II, INC.
FINANCIAL HIGHLIGHTS -- (CONTINUED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
SELECTED PER-SHARE DATA(a)
----------------------------------------------------------------------------------
NET REALIZED
AND DISTRIBUTIONS
NET ASSET NET UNREALIZED DIVIDENDS FROM
VALUE AT INVESTMENT GAIN FROM NET REALIZED DISTRIBUTIONS
BEGINNING INCOME (LOSS) ON INVESTMENT CAPITAL FROM
OF PERIOD (LOSS) INVESTMENTS INCOME GAINS CAPITAL
--------- ---------- ------------ ---------- ------------- -------------
THE HARTFORD TAX-FREE NATIONAL FUND
For the Six-Month Period
Ended April 30, 2003
Class A...................... 11.28 0.20 0.18 (0.20) (0.25) --
Class B...................... 11.21 0.16 0.19 (0.16) (0.25) --
Class C...................... 11.23 0.16 0.19 (0.16) (0.25) --
Class E...................... 11.27 0.21 0.19 (0.21) (0.25) --
Class H...................... 11.24 0.16 0.19 (0.16) (0.25) --
Class L...................... 11.25 0.20 0.19 (0.20) (0.25) --
Class M...................... 11.24 0.16 0.19 (0.16) (0.25) --
Class N...................... 11.22 0.16 0.19 (0.16) (0.25) --
Class Y...................... 11.28 0.22 0.19 (0.22) (0.25) --
For the Period February 19,
2002 through October 31,
2002
Class A...................... 10.99 0.26 0.30 (0.27) -- --
Class B...................... 10.97 0.20 0.25 (0.21) -- --
Class C...................... 10.97 0.20 0.27 (0.21) -- --
Class Y...................... 10.99 0.33 0.27 (0.31) -- --
For the Year Ended October
31, 2002
Class E...................... 11.18 0.41 0.12 (0.40) (0.04) --
Class H...................... 11.15 0.32 0.11 (0.30) (0.04) --
Class L...................... 11.16 0.39 0.12 (0.38) (0.04) --
Class M...................... 11.15 0.31 0.12 (0.30) (0.04) --
Class N...................... 11.13 0.31 0.12 (0.30) (0.04) --
For the One-Month Period
Ended October 31, 2001
Class E...................... 11.07 0.04 0.11 (0.04) -- --
Class H...................... 11.03 0.03 0.12 (0.03) -- --
Class L...................... 11.05 0.04 0.11 (0.04) -- --
Class M...................... 11.04 0.03 0.11 (0.03) -- --
Class N...................... 11.02 0.03 0.11 (0.03) -- --
For the Year Ended September
30, 2001
Class E...................... 10.52 0.49 0.56 (0.50) -- --
Class H...................... 10.49 0.37 0.56 (0.39) -- --
Class L...................... 10.50 0.46 0.56 (0.47) -- --
Class M...................... 10.49 0.38 0.56 (0.39) -- --
Class N...................... 10.48 0.38 0.56 (0.40) -- --
For the Year Ended September
30, 2000
Class E...................... 10.49 0.52 0.02 (0.51) -- --
Class H...................... 10.46 0.42 0.02 (0.41) -- --
Class L...................... 10.47 0.50 0.02 (0.49) -- --
Class M...................... 10.46 0.42 0.02 (0.41) -- --
Class N...................... 10.45 0.42 0.02 (0.41) -- --
For the Year Ended September
30, 1999
Class E...................... 11.38 0.50 (0.78) (0.49) (0.12) --
Class H...................... 11.35 0.39 (0.78) (0.38) (0.12) --
Class L...................... 11.37 0.47 (0.78) (0.47) (0.12) --
Class M...................... 11.36 0.38 (0.78) (0.38) (0.12) --
Class N...................... 11.34 0.39 (0.78) (0.38) (0.12) --
For the Year Ended September
30, 1998
Class E...................... 11.07 0.52 0.34 (0.51) (0.04) --
Class H...................... 11.06 0.40 0.34 (0.41) (0.04) --
Class L...................... 11.06 0.50 0.34 (0.49) (0.04) --
Class M...................... 11.05 0.42 0.34 (0.41) (0.04) --
Class N...................... 11.04 0.41 0.34 (0.41) (0.04) --
<Caption>
RATIOS AND SUPPLEMENTAL DATA
------------------------------------------------------------------------------------------
RATIO OF RATIO OF RATIO OF
EXPENSES EXPENSES NET
NET ASSET NET ASSETS TO AVERAGE TO AVERAGE INVESTMENT
VALUE AT AT END OF NET ASSETS NET ASSETS INCOME PORTFOLIO
END OF TOTAL PERIOD BEFORE AFTER TO AVERAGE TURNOVER
PERIOD RETURN(C) (000'S) WAIVERS WAIVERS NET ASSETS RATE(E)
--------- --------- ---------- ---------- ---------- ---------- ---------
THE HARTFORD TAX-FREE NATIONAL
For the Six-Month Period
Ended April 30, 2003
Class A...................... 11.21 3.58(d) 17,952 1.52(b) 1.15(b) 3.58(b) 19
Class B...................... 11.15 3.22(d) 5,538 2.23(b) 1.85(b) 2.88(b) --
Class C...................... 11.17 3.21(d) 6,229 2.11(b) 1.85(b) 2.90(b) --
Class E...................... 11.21 3.72(d) 36,176 0.87(b) 0.87(b) 3.84(b) --
Class H...................... 11.18 3.23(d) 2,661 1.87(b) 1.85(b) 2.86(b) --
Class L...................... 11.19 3.60(d) 7,495 1.12(b) 1.12(b) 3.60(b) --
Class M...................... 11.18 3.23(d) 1,514 1.87(b) 1.85(b) 2.86(b) --
Class N...................... 11.16 3.24(d) 610 1.87(b) 1.85(b) 2.87(b) --
Class Y...................... 11.22 3.80(d) 1 1.18(b) 0.85(b) 3.96(b) --
For the Period February 19,
2002 through October 31,
2002
Class A...................... 11.28 5.17(d) 12,192 1.63(b) 1.15(b) 3.31(b) 47
Class B...................... 11.21 4.18(d) 3,764 2.33(b) 1.85(b) 2.54(b) --
Class C...................... 11.23 4.37(d) 3,121 2.18(b) 1.85(b) 2.57(b) --
Class Y...................... 11.28 5.52(d) 1 0.81(b) 0.81(b) 4.15(b) --
For the Year Ended October
31, 2002
Class E...................... 11.27 4.93 39,423 0.94 0.94 3.70 47
Class H...................... 11.24 3.99 2,895 1.95 1.85 2.83 --
Class L...................... 11.25 4.72 7,360 1.19 1.15 3.50 --
Class M...................... 11.24 3.99 1,552 1.95 1.85 2.80 --
Class N...................... 11.22 3.99 600 1.95 1.85 2.80 --
For the One-Month Period
Ended October 31, 2001
Class E...................... 11.18 1.35(d) 42,441 0.95(b) 0.95(b) 4.21(b) --
Class H...................... 11.15 1.36(d) 4,679 1.95(b) 1.95(b) 3.21(b) --
Class L...................... 11.16 1.33(d) 8,029 1.20(b) 1.20(b) 3.96(b) --
Class M...................... 11.15 1.27(d) 1,723 1.95(b) 1.95(b) 3.21(b) --
Class N...................... 11.13 1.27(d) 538 1.95(b) 1.95(b) 3.21(b) --
For the Year Ended September
30, 2001
Class E...................... 11.07 10.18 42,331 0.97 0.97 4.49 28
Class H...................... 11.03 9.03 4,853 1.97 1.97 3.49 --
Class L...................... 11.05 9.91 7,892 1.22 1.22 4.24 --
Class M...................... 11.04 9.14 1,701 1.97 1.97 3.49 --
Class N...................... 11.02 9.06 469 1.97 1.97 3.49 --
For the Year Ended September
30, 2000
Class E...................... 10.52 5.33 42,212 0.96 0.96 4.96 64
Class H...................... 10.49 4.29 5,021 1.96 1.96 3.96 --
Class L...................... 10.50 5.09 6,509 1.21 1.21 4.71 --
Class M...................... 10.49 4.29 1,540 1.96 1.96 3.96 --
Class N...................... 10.48 4.30 289 1.96 1.96 3.96 --
For the Year Ended September
30, 1999
Class E...................... 10.49 (2.56) 47,140 0.94 0.94 4.56 89
Class H...................... 10.46 (3.52) 6,019 1.94 1.94 3.56 --
Class L...................... 10.47 (2.87) 8,247 1.19 1.19 4.31 --
Class M...................... 10.46 (3.61) 1,752 1.94 1.94 3.56 --
Class N...................... 10.45 (3.53) 548 1.94 1.94 3.56 --
For the Year Ended September
30, 1998
Class E...................... 11.38 7.97 56,959 0.98 0.98 4.65 74
Class H...................... 11.35 6.76 6,099 1.98 1.98 3.65 --
Class L...................... 11.37 7.75 8,308 1.23 1.23 4.40 --
Class M...................... 11.36 6.95 1,493 1.98 1.98 3.65 --
Class N...................... 11.34 6.86 493 1.98 1.98 3.65 --
</Table>
- ---------------
(a) Information presented relates to a share of capital share outstanding
throughout the indicated period.
(b) Annualized.
(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) Not annualized.
(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 restated to reflect a reverse stock split for
Class C shares effective February 11, 1999.
(g) Per share amounts have been calculated using average shares outstanding
method.
See Notes to Financial Statements.
196
- --------------------------------------------------------------------------------
<Table>
<Caption>
SELECTED PER-SHARE DATA(a)
----------------------------------------------------------------------------------
NET REALIZED
AND DISTRIBUTIONS
NET ASSET NET UNREALIZED DIVIDENDS FROM
VALUE AT INVESTMENT GAIN FROM NET REALIZED DISTRIBUTIONS
BEGINNING INCOME (LOSS) ON INVESTMENT CAPITAL FROM
OF PERIOD (LOSS) INVESTMENTS INCOME GAINS CAPITAL
--------- ---------- ------------ ---------- ------------- -------------
THE HARTFORD TAX-FREE NEW YORK
FUND
From inception October 31,
2002, through April 30,
2003
Class A...................... 10.00 0.15 0.25 (0.15) -- --
Class B...................... 10.00 0.12 0.25 (0.12) -- --
Class C...................... 10.00 0.12 0.25 (0.12) -- --
THE HARTFORD TOTAL RETURN BOND
FUND
For the Six-Month Period
Ended April 30, 2003
Class A...................... 10.78 0.28 0.51 (0.27) (0.11) --
Class B...................... 10.73 0.24 0.51 (0.23) (0.11) --
Class C...................... 10.77 0.25 0.49 (0.23) (0.11) --
Class Y...................... 10.87 0.30 0.53 (0.30) (0.11) --
For the Year Ended October
31, 2002(g)
Class A...................... 10.90 0.47 -- (0.52) (0.07) --
Class B...................... 10.85 0.40 -- (0.45) (0.07) --
Class C...................... 10.89 0.40 -- (0.45) (0.07) --
Class Y...................... 10.99 0.45 0.08 (0.58) (0.07) --
For the Year Ended October
31, 2001
Class A...................... 10.14 0.55 0.73 (0.52) -- --
Class B...................... 10.10 0.48 0.72 (0.45) -- --
Class C...................... 10.14 0.49 0.71 (0.45) -- --
Class Y...................... 10.22 0.61 0.73 (0.57) -- --
For the Ten Months Ended
October 31, 2000
Class A...................... 9.93 0.50 0.19 (0.48) -- --
Class B...................... 9.90 0.43 0.20 (0.43) -- --
Class C...................... 9.93 0.44 0.20 (0.43) -- --
Class Y...................... 9.99 0.54 0.20 (0.51) -- --
For the Year Ended December
31, 1999
Class A...................... 10.76 0.54 (0.83) (0.52) (0.02) --
Class B...................... 10.72 0.47 (0.82) (0.45) (0.02) --
Class C...................... 10.76(f) 0.47(f) (0.82)(f) (0.46)(f) (0.02)(f) --
Class Y...................... 10.81 0.55 (0.80) (0.55) (0.02) --
For the Year Ended December
31, 1998
Class A...................... 10.61 0.54 0.23 (0.54) (0.08) --
Class B...................... 10.58 0.47 0.22 (0.47) (0.08) --
Class Y...................... 10.64 0.58 0.24 (0.57) (0.08) --
From inception August 1,
1998, through December 31,
1998
Class C...................... 10.70(f) 0.19(f) 0.15(f) (0.21)(f) (0.07)(f) --
For the Year Ended December
31, 1997
Class A...................... 10.26 0.57 0.50 (0.56) (0.16) --
Class B...................... 10.25 0.53 0.46 (0.50) (0.16) --
Class Y...................... 10.27 0.58 0.54 (0.59) (0.16) --
<Caption>
RATIOS AND SUPPLEMENTAL DATA
------------------------------------------------------------------------------------------
RATIO OF RATIO OF RATIO OF
EXPENSES EXPENSES NET
NET ASSET NET ASSETS TO AVERAGE TO AVERAGE INVESTMENT
VALUE AT AT END OF NET ASSETS NET ASSETS INCOME PORTFOLIO
END OF TOTAL PERIOD BEFORE AFTER TO AVERAGE TURNOVER
PERIOD RETURN(C) (000'S) WAIVERS WAIVERS NET ASSETS RATE(E)
--------- --------- ---------- ---------- ---------- ---------- ---------
THE HARTFORD TAX-FREE NEW YORK
FUND
From inception October 31,
2002, through April 30,
2003
Class A...................... 10.25 4.06(d) 8,372 1.56(b) 0.95(b) 3.07(b) 46
Class B...................... 10.25 3.69(d) 1,045 2.30(b) 1.65(b) 2.36(b) --
Class C...................... 10.25 3.69(d) 1,297 2.18(b) 1.65(b) 2.40(b) --
THE HARTFORD TOTAL RETURN BOND
FUND
For the Six-Month Period
Ended April 30, 2003
Class A...................... 11.19 7.48(d) 268,696 1.40(b) 1.25(b) 5.27(b) 127
Class B...................... 11.14 7.14(d) 116,505 2.11(b) 1.95(b) 4.56(b) --
Class C...................... 11.17 7.02(d) 124,555 1.99(b) 1.95(b) 4.57(b) --
Class Y...................... 11.29 7.72(d) 52,587 0.79(b) 0.79(b) 5.74(b) --
For the Year Ended October
31, 2002(g)
Class A...................... 10.78 4.50 215,083 1.42 1.25 4.65 149
Class B...................... 10.73 3.77 98,028 2.10 1.95 3.92 --
Class C...................... 10.77 3.80 107,479 1.98 1.95 3.92 --
Class Y...................... 10.87 5.01 39,778 0.78 0.78 5.16 --
For the Year Ended October
31, 2001
Class A...................... 10.90 12.96 122,423 1.30 1.25 5.00 196
Class B...................... 10.85 12.12 55,999 1.96 1.95 4.30 --
Class C...................... 10.89 12.12 62,222 1.97 1.95 4.30 --
Class Y...................... 10.99 13.46 43,635 0.75 0.75 5.50 --
For the Ten Months Ended
October 31, 2000
Class A...................... 10.14 7.17(d) 37,290 1.29(b) 1.24(b) 5.88(b) 140
Class B...................... 10.10 6.48(d) 22,197 1.95(b) 1.95(b) 5.17(b) --
Class C...................... 10.14 6.55(d) 16,886 1.94(b) 1.94(b) 5.18(b) --
Class Y...................... 10.22 7.60(d) 30,334 0.77(b) 0.77(b) 6.34(b) --
For the Year Ended December
31, 1999
Class A...................... 9.93 (2.71) 57,320 1.29 1.24 5.32 113
Class B...................... 9.90 (3.30) 21,442 1.94 1.94 4.62 --
Class C...................... 9.93(f) (3.36) 18,136 1.97 1.95 4.62 --
Class Y...................... 9.99 (2.31) 28,052 0.80 0.80 5.77 --
For the Year Ended December
31, 1998
Class A...................... 10.76 7.48 47,143 1.32 1.25 5.04 135
Class B...................... 10.72 6.70 16,772 2.01 1.95 4.32 --
Class Y...................... 10.81 7.98 10,766 0.84 0.80 5.48 --
From inception August 1,
1998, through December 31,
1998
Class C...................... 10.76(f) 3.19(d) 5,420 2.13(b) 1.95(b) 4.13(b) --
For the Year Ended December
31, 1997
Class A...................... 10.61 10.80 28,589 1.49 1.25 5.59 220
Class B...................... 10.58 9.96 5,745 2.19 1.95 4.85 --
Class Y...................... 10.64 11.30 5,756 1.01 0.80 5.98 --
</Table>
- ---------------
(a) Information presented relates to a share of capital share outstanding
throughout the indicated period.
(b) Annualized.
(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) Not annualized.
(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 restated to reflect a reverse stock split for
Class C shares effective February 11, 1999.
(g) Per share amounts have been calculated using average shares outstanding
method.
197
HARTFORD MUTUAL FUNDS, INC. AND HARTFORD MUTUAL FUNDS II, INC.
FINANCIAL HIGHLIGHTS -- (CONTINUED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
SELECTED PER-SHARE DATA(a)
----------------------------------------------------------------------------------
NET REALIZED
AND DISTRIBUTIONS
NET ASSET NET UNREALIZED DIVIDENDS FROM
VALUE AT INVESTMENT GAIN FROM NET REALIZED DISTRIBUTIONS
BEGINNING INCOME (LOSS) ON INVESTMENT CAPITAL FROM
OF PERIOD (LOSS) INVESTMENTS INCOME GAINS CAPITAL
--------- ---------- ------------ ---------- ------------- -------------
THE HARTFORD U.S. GOVERNMENT
SECURITIES FUND
For the Six-Month Period
Ended April 30, 2003
Class A...................... 9.88 0.21 0.12 (0.20) -- --
Class B...................... 9.84 0.17 0.13 (0.17) -- --
Class C...................... 9.84 0.17 0.13 (0.17) -- --
Class E...................... 9.87 0.23 0.12 (0.22) -- --
Class H...................... 9.83 0.18 0.13 (0.17) -- --
Class L...................... 9.87 0.22 0.13 (0.21) -- --
Class M...................... 9.84 0.18 0.12 (0.17) -- --
Class N...................... 9.84 0.18 0.13 (0.17) -- --
Class Y...................... 9.89 0.23 0.13 (0.23) -- --
For the Period February 19,
2002 through October 31,
2002
Class A...................... 9.50 0.26 0.38 (0.26) -- --
Class B...................... 9.46 0.21 0.38 (0.21) -- --
Class C...................... 9.46 0.21 0.38 (0.21) -- --
Class Y...................... 9.50 0.32 0.36 (0.29) -- --
For the Year Ended October
31, 2002
Class E...................... 9.67 0.42 0.19 (0.41) -- --
Class H...................... 9.64 0.32 0.19 (0.32) -- --
Class L...................... 9.67 0.39 0.20 (0.39) -- --
Class M...................... 9.64 0.32 0.20 (0.32) -- --
Class N...................... 9.64 0.32 0.20 (0.32) -- --
For the Three-Month Period
Ended October 31, 2001
Class E...................... 9.37 0.13 0.30 (0.13) -- --
Class H...................... 9.34 0.10 0.30 (0.10) -- --
Class L...................... 9.37 0.12 0.30 (0.12) -- --
Class M...................... 9.34 0.10 0.30 (0.10) -- --
Class N...................... 9.34 0.10 0.30 (0.10) -- --
For the Year Ended July 31,
2001
Class E...................... 8.86 0.54 0.52 (0.55) -- --
Class H...................... 8.83 0.45 0.52 (0.46) -- --
Class L...................... 8.86 0.52 0.52 (0.53) -- --
Class M...................... 8.83 0.45 0.52 (0.46) -- --
Class N...................... 8.83 0.45 0.52 (0.46) -- --
For the Year Ended July 31,
2000
Class E...................... 8.96 0.52 (0.10) (0.52) -- --
Class H...................... 8.94 0.43 (0.10) (0.44) -- --
Class L...................... 8.96 0.50 (0.10) (0.50) -- --
Class M...................... 8.94 0.43 (0.10) (0.44) -- --
Class N...................... 8.93 0.44 (0.10) (0.44) -- --
For the Year Ended July 31,
1999
Class E...................... 9.30 0.49 (0.34) (0.49) -- --
Class H...................... 9.28 0.40 (0.34) (0.40) -- --
Class L...................... 9.30 0.47 (0.34) (0.47) -- --
Class M...................... 9.28 0.40 (0.34) (0.40) -- --
Class N...................... 9.27 0.40 (0.34) (0.40) -- --
For the Year Ended July 31,
1998
Class E...................... 9.16 0.52 0.14 (0.52) -- --
Class H...................... 9.14 0.43 0.14 (0.43) -- --
Class L...................... 9.16 0.50 0.14 (0.50) -- --
Class M...................... 9.14 0.43 0.14 (0.43) -- --
Class N...................... 9.13 0.43 0.14 (0.43) -- --
<Caption>
RATIOS AND SUPPLEMENTAL DATA
------------------------------------------------------------------------------------------
RATIO OF RATIO OF RATIO OF
EXPENSES EXPENSES NET
NET ASSET NET ASSETS TO AVERAGE TO AVERAGE INVESTMENT
VALUE AT AT END OF NET ASSETS NET ASSETS INCOME PORTFOLIO
END OF TOTAL PERIOD BEFORE AFTER TO AVERAGE TURNOVER
PERIOD RETURN(C) (000'S) WAIVERS WAIVERS NET ASSETS RATE(E)
--------- --------- ---------- ---------- ---------- ---------- ---------
THE HARTFORD U.S. GOVERNMENT
SECURITIES FUND
For the Six-Month Period
Ended April 30, 2003
Class A...................... 10.01 3.42(d) 89,636 1.43(b) 1.20(b) 4.27(b) 64
Class B...................... 9.97 3.06(d) 54,029 2.12(b) 1.90(b) 3.58(b) --
Class C...................... 9.97 3.06(d) 48,217 2.02(b) 1.90(b) 3.57(b) --
Class E...................... 10.00 3.63(d) 152,054 0.77(b) 0.77(b) 4.69(b) --
Class H...................... 9.97 3.22(d) 8,141 1.77(b) 1.77(b) 3.68(b) --
Class L...................... 10.01 3.58(d) 47,801 1.02(b) 1.02(b) 4.44(b) --
Class M...................... 9.97 3.12(d) 6,200 1.77(b) 1.77(b) 3.68(b) --
Class N...................... 9.98 3.22(d) 1,664 1.77(b) 1.77(b) 3.69(b) --
Class Y...................... 10.02 3.64(d) 1 0.84(b) 0.80(b) 4.73(b) --
For the Period February 19,
2002 through October 31,
2002
Class A...................... 9.88 6.87(d) 75,245 1.59(b) 1.20(b) 3.58(b) 218
Class B...................... 9.84 6.36(d) 39,276 2.28(b) 1.90(b) 2.87(b) --
Class C...................... 9.84 6.36(d) 40,708 2.11(b) 1.90(b) 2.86(b) --
Class Y...................... 9.89 7.32(d) 1 0.74(b) 0.74(b) 4.36(b) --
For the Year Ended October
31, 2002
Class E...................... 9.87 6.55 156,085 0.81 0.81 4.45 218
Class H...................... 9.83 5.41 9,319 1.81 1.81 3.45 --
Class L...................... 9.87 6.29 49,048 1.06 1.06 4.20 --
Class M...................... 9.84 5.51 6,660 1.81 1.81 3.44 --
Class N...................... 9.84 5.52 1,717 1.81 1.81 3.47 --
For the Three-Month Period
Ended October 31, 2001
Class E...................... 9.67 4.57(d) 187,712 0.79(b) 0.79(b) 5.25 32
Class H...................... 9.64 4.31(d) 10,770 1.79(b) 1.79(b) 4.25 --
Class L...................... 9.67 4.50(d) 52,579 1.04(b) 1.04(b) 5.01 --
Class M...................... 9.64 4.32(d) 6,582 1.79(b) 1.79(b) 4.25 --
Class N...................... 9.64 4.31(d) 2,275 1.79(b) 1.79(b) 4.25 --
For the Year Ended July 31,
2001
Class E...................... 9.37 12.30 182,170 0.79 0.79 5.93 136
Class H...................... 9.34 11.24 10,078 1.79 1.79 4.92 --
Class L...................... 9.37 12.02 47,798 1.04 1.04 5.67 --
Class M...................... 9.34 11.24 5,284 1.79 1.79 4.92 --
Class N...................... 9.34 11.24 1,603 1.79 1.79 4.92 --
For the Year Ended July 31,
2000
Class E...................... 8.86 4.91 184,520 0.79 0.79 5.96 181
Class H...................... 8.83 3.79 8,345 1.79 1.79 4.96 --
Class L...................... 8.86 4.62 43,620 1.04 1.04 5.71 --
Class M...................... 8.83 3.79 4,264 1.79 1.79 4.96 --
Class N...................... 8.83 3.91 1,606 1.79 1.79 4.93 --
For the Year Ended July 31,
1999
Class E...................... 8.96 1.56 254,096 0.78 0.78 5.32 75
Class H...................... 8.94 0.53 10,262 1.78 1.78 4.32 --
Class L...................... 8.96 1.30 49,274 1.03 1.03 5.07 --
Class M...................... 8.94 0.53 4,703 1.78 1.78 4.32 --
Class N...................... 8.93 0.52 3,071 1.78 1.78 4.32 --
For the Year Ended July 31,
1998
Class E...................... 9.30 7.42 285,060 0.79 0.79 5.62 118
Class H...................... 9.28 6.40 10,816 1.79 1.79 4.62 --
Class L...................... 9.30 7.14 52,439 1.04 1.04 5.37 --
Class M...................... 9.28 6.40 3,161 1.79 1.79 4.62 --
Class N...................... 9.27 6.41 1,267 1.79 1.79 4.62 --
</Table>
- ---------------
(a) Information presented relates to a share of capital share outstanding
throughout the indicated period.
(b) Annualized.
(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) Not annualized.
(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 restated to reflect a reverse stock split for
Class C shares effective February 11, 1999.
(g) Per share amounts have been calculated using average shares outstanding
method.
See Notes to Financial Statements.
198
- --------------------------------------------------------------------------------
<Table>
<Caption>
SELECTED PER-SHARE DATA(a)
----------------------------------------------------------------------------------
NET REALIZED
AND DISTRIBUTIONS
NET ASSET NET UNREALIZED DIVIDENDS FROM
VALUE AT INVESTMENT GAIN FROM NET REALIZED DISTRIBUTIONS
BEGINNING INCOME (LOSS) ON INVESTMENT CAPITAL FROM
OF PERIOD (LOSS) INVESTMENTS INCOME GAINS CAPITAL
--------- ---------- ------------ ---------- ------------- -------------
THE HARTFORD VALUE FUND
For the Six-Month Period
Ended April 30, 2003
Class A...................... 7.59 0.04 0.18 (0.06) -- --
Class B...................... 7.51 0.02 0.16 -- -- --
Class C...................... 7.51 0.02 0.17 -- -- --
Class Y...................... 7.64 0.06 0.18 (0.10) -- --
For the Year Ended October
31, 2002(g)
Class A...................... 9.02 0.05 (1.43) -- (0.05) --
Class B...................... 8.99 (0.02) (1.41) -- (0.05) --
Class C...................... 8.99 (0.02) (1.41) -- (0.05) --
Class Y...................... 9.04 0.09 (1.44) -- (0.05) --
From inception April 30,
2001, through October 31,
2001
Class A...................... 10.00 0.01 (0.99) -- -- --
Class B...................... 10.00 -- (1.01) -- -- --
Class C...................... 10.00 -- (1.01) -- -- --
Class Y...................... 10.00 0.05 (1.01) -- -- --
<Caption>
RATIOS AND SUPPLEMENTAL DATA
------------------------------------------------------------------------------------------
RATIO OF RATIO OF RATIO OF
EXPENSES EXPENSES NET
NET ASSET NET ASSETS TO AVERAGE TO AVERAGE INVESTMENT
VALUE AT AT END OF NET ASSETS NET ASSETS INCOME PORTFOLIO
END OF TOTAL PERIOD BEFORE AFTER TO AVERAGE TURNOVER
PERIOD RETURN(C) (000'S) WAIVERS WAIVERS NET ASSETS RATE(E)
--------- --------- ---------- ---------- ---------- ---------- ---------
THE HARTFORD VALUE FUND
For the Six-Month Period
Ended April 30, 2003
Class A...................... 7.75 2.90(d) 31,369 1.63(b) 1.45(b) 1.11(b) 17
Class B...................... 7.69 2.40(d) 5,602 2.36(b) 2.15(b) 0.41(b) --
Class C...................... 7.70 2.53(d) 9,131 2.24(b) 2.15(b) 0.41(b) --
Class Y...................... 7.78 3.15(d) 238 1.03(b) 1.00(b) 1.56(b) --
For the Year Ended October
31, 2002(g)
Class A...................... 7.59 (15.42) 30,010 1.63 1.45 0.69 35
Class B...................... 7.51 (16.03) 5,222 2.31 2.15 (0.02) --
Class C...................... 7.51 (16.03) 9,110 2.21 2.15 (0.04) --
Class Y...................... 7.64 (15.05) 230 0.98 0.98 1.09 --
From inception April 30,
2001, through October 31,
2001
Class A...................... 9.02 (9.80)(d) 13,728 1.66(b) 1.45(b) 0.53(b) 12
Class B...................... 8.99 (10.10)(d) 2,029 2.36(b) 2.15(b) (0.17)(b) --
Class C...................... 8.99 (10.10)(d) 4,769 2.34(b) 2.15(b) (0.17)(b) --
Class Y...................... 9.04 (9.60)(d) 271 1.09(b) 1.00(b) 0.98(b) --
</Table>
- ---------------
(a) Information presented relates to a share of capital share outstanding
throughout the indicated period.
(b) Annualized.
(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) Not annualized.
(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 restated to reflect a reverse stock split for
Class C shares effective February 11, 1999.
(g) Per share amounts have been calculated using average shares outstanding
method.
199
HARTFORD MUTUAL FUNDS, INC. AND HARTFORD MUTUAL FUNDS II, INC.
FINANCIAL HIGHLIGHTS -- (CONTINUED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
SELECTED PER-SHARE DATA(a)
----------------------------------------------------------------------------------
NET REALIZED
AND DISTRIBUTIONS
NET ASSET NET UNREALIZED DIVIDENDS FROM
VALUE AT INVESTMENT GAIN FROM NET REALIZED DISTRIBUTIONS
BEGINNING INCOME (LOSS) ON INVESTMENT CAPITAL FROM
OF PERIOD (LOSS) INVESTMENTS INCOME GAINS CAPITAL
--------- ---------- ------------ ---------- ------------- -------------
THE HARTFORD VALUE
OPPORTUNITIES FUND
For the Six-Month Period
Ended April 30, 2003
Class A...................... 9.26 (0.01) 0.67 -- -- --
Class B...................... 8.84 (0.03) 0.63 -- -- --
Class C...................... 8.85 (0.04) 0.64 -- -- --
Class H...................... 8.85 (0.04) 0.64 -- -- --
Class L...................... 9.26 (0.01) 0.67 -- -- --
Class M...................... 8.85 (0.04) 0.64 -- -- --
Class N...................... 8.85 (0.04) 0.65 -- -- --
Class Y...................... 9.30 0.01 0.66 -- -- --
For the Period February 19,
2002 through October 31,
2002
Class A...................... 11.73 -- (2.47) -- -- --
Class B...................... 11.26 (0.02) (2.40) -- -- --
Class C...................... 11.26 (0.02) (2.39) -- -- --
Class Y...................... 11.73 0.05 (2.48) -- -- --
For the Year Ended October
31, 2002
Class H...................... 11.58 (0.11) (1.81) -- (0.81) --
Class L...................... 11.99 -- (1.92) -- (0.81) --
Class M...................... 11.57 (0.08) (1.83) -- (0.81) --
Class N...................... 11.57 (0.13) (1.78) -- (0.81) --
For the Two-Month Period
Ended October 31, 2001
Class H...................... 12.86 (0.02) (1.26) -- -- --
Class L...................... 13.30 -- (1.31) -- -- --
Class M...................... 12.85 (0.02) (1.26) -- -- --
Class N...................... 12.86 (0.03) (1.26) -- -- --
For the Year Ended August 31,
2001
Class H...................... 13.95 (0.07) 0.30 -- (1.32) --
Class L...................... 14.30 0.03 0.31 (0.02) (1.32) --
Class M...................... 13.94 (0.07) 0.30 -- (1.32) --
Class N...................... 13.95 (0.07) 0.30 -- (1.32) --
For the Year Ended August 31,
2000
Class H...................... 13.07 (0.08) 1.89 -- (0.93) --
Class L...................... 13.28 0.01 1.94 -- (0.93) --
Class M...................... 13.06 (0.08) 1.89 -- (0.93) --
Class N...................... 13.07 (0.08) 1.89 -- (0.93) --
For the Year Ended August 31,
1999
Class H...................... 11.72 (0.08) 2.73 -- (1.30) --
Class L...................... 11.85 0.05 2.73 (0.05) (1.30) --
Class M...................... 11.71 (0.08) 2.73 -- (1.30) --
Class N...................... 11.72 (0.08) 2.73 -- (1.30) --
For the Year Ended August 31,
1998
Class H...................... 13.39 (0.01) (0.30) -- (1.36) --
Class L...................... 13.51 0.09 (0.30) (0.09) (1.36) --
Class M...................... 13.39 (0.02) (0.30) -- (1.36) --
Class N...................... 13.39 (0.01) (0.30) -- (1.36) --
<Caption>
RATIOS AND SUPPLEMENTAL DATA
------------------------------------------------------------------------------------------
RATIO OF RATIO OF RATIO OF
EXPENSES EXPENSES NET
NET ASSET NET ASSETS TO AVERAGE TO AVERAGE INVESTMENT
VALUE AT AT END OF NET ASSETS NET ASSETS INCOME PORTFOLIO
END OF TOTAL PERIOD BEFORE AFTER TO AVERAGE TURNOVER
PERIOD RETURN(C) (000'S) WAIVERS WAIVERS NET ASSETS RATE(E)
--------- --------- ---------- ---------- ---------- ---------- ---------
THE HARTFORD VALUE
OPPORTUNITIES FUND
For the Six-Month Period
Ended April 30, 2003
Class A...................... 9.92 7.13(d) 2,811 1.93(b) 1.45(b) (0.15)(b) 24
Class B...................... 9.44 6.79(d) 735 2.77(b) 2.15(b) (0.84)(b) --
Class C...................... 9.45 6.78(d) 648 2.52(b) 2.15(b) (0.85)(b) --
Class H...................... 9.45 6.78(d) 5,606 2.25(b) 2.15(b) (0.86)(b) --
Class L...................... 9.92 7.13(d) 19,686 1.50(b) 1.45(b) (0.16)(b) --
Class M...................... 9.45 6.78(d) 6,800 2.25(b) 2.15(b) (0.86)(b) --
Class N...................... 9.46 6.89(d) 1,671 2.25(b) 2.15(b) (0.86)(b) --
Class Y...................... 9.97 7.20(d) 1 1.40(b) 1.25(b) 0.11(b) --
For the Period February 19,
2002 through October 31,
2002
Class A...................... 9.26 (21.06)(d) 2,600 1.92(b) 1.45(b) 0.04(b) 70
Class B...................... 8.84 (21.45)(d) 481 2.61(b) 2.15(b) (0.71)(b) --
Class C...................... 8.85 (21.41)(d) 430 2.48(b) 2.15(b) (0.75)(b) --
Class Y...................... 9.30 (20.75)(d) 1 1.13(b) 1.00(b) 0.49(b) --
For the Year Ended October
31, 2002
Class H...................... 8.85 (17.99) 5,634 2.17 2.15 (0.82) 70
Class L...................... 9.26 (17.34) 19,684 1.43 1.43 (0.11) --
Class M...................... 8.85 (17.92) 6,669 2.18 2.15 (0.82) --
Class N...................... 8.85 (17.92) 1,749 2.18 2.15 (0.83) --
For the Two-Month Period
Ended October 31, 2001
Class H...................... 11.58 (9.95)(d) 7,914 2.18(b) 2.18(b) (0.89)(b) 12
Class L...................... 11.99 (9.85)(d) 27,982 1.43(b) 1.43(b) (0.14)(b) --
Class M...................... 11.57 (9.96)(d) 8,700 2.18(b) 2.18(b) (0.89)(b) --
Class N...................... 11.57 (10.03)(d) 2,636 2.18(b) 2.18(b) (0.89)(b) --
For the Year Ended August 31,
2001
Class H...................... 12.86 1.53 8,967 2.16 2.16 (0.70) 177
Class L...................... 13.30 2.29 30,480 1.41 1.41 0.05 --
Class M...................... 12.85 1.53 9,668 2.16 2.16 (0.70) --
Class N...................... 12.86 1.53 2,935 2.16 2.16 (0.70) --
For the Year Ended August 31,
2000
Class H...................... 13.95 14.90 8,796 2.17 2.17 (0.61) 228
Class L...................... 14.30 15.76 39,975 1.42 1.42 0.14 --
Class M...................... 13.94 14.90 7,633 2.17 2.17 (0.61) --
Class N...................... 13.95 14.90 2,662 2.17 2.17 (0.61) --
For the Year Ended August 31,
1999
Class H...................... 13.07 23.18 8,045 2.23 2.23 (0.43) 266
Class L...................... 13.28 24.10 34,302 1.48 1.48 0.32 --
Class M...................... 13.06 23.20 6,662 2.23 2.23 (0.43) --
Class N...................... 13.07 23.18 2,486 2.23 2.23 (0.43) --
For the Year Ended August 31,
1998
Class H...................... 11.72 (3.24) 7,016 2.27 2.27 (0.20) 260
Class L...................... 11.85 (2.52) 22,449 1.52 1.52 0.55 --
Class M...................... 11.71 (3.33) 4,794 2.27 2.27 (0.20) --
Class N...................... 11.72 (3.24) 1,991 2.27 2.27 (0.20) --
</Table>
- ---------------
(a) Information presented relates to a share of capital share outstanding
throughout the indicated period.
(b) Annualized.
(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) Not annualized.
(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 restated to reflect a reverse stock split for
Class C shares effective February 11, 1999.
(g) Per share amounts have been calculated using average shares outstanding
method.
See Notes to Financial Statements.
200
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
BOARDS OF DIRECTORS AND OFFICERS INFORMATION (UNAUDITED)
- --------------------------------------------------------------------------------
The business address for all directors and officers is c/o Secretary, The
Hartford Mutual Funds, P.O. Box 2999, Hartford, CT 06104-2999, except for Tamara
L. Fagely and Robert W. Beltz, Jr., whose business address is 500 Bielenberg
Dr., Woodbury, MN 55125.
<Table>
<Caption>
- ---------------------------------------------------------------------------------------------------------------------------------
NON-INTERESTED DIRECTORS
- ---------------------------------------------------------------------------------------------------------------------------------
TERM OF NUMBER OF
OFFICE(1) AND PORTFOLIOS IN
POSITION HELD LENGTH OF FUND COMPLEX OTHER
WITH THE TIME SERVED: PRINCIPAL OCCUPATION(S) OVERSEEN BY DIRECTORSHIPS
NAME AND AGE COMPANIES MF(2) MFII(3) DURING PAST 5 YEARS DIRECTOR HELD BY DIRECTOR
- ---------------------------------------------------------------------------------------------------------------------------------
WINIFRED E. COLEMAN Director 1996 2002 Ms. Coleman has served as 70 N/A
(age 70) President of Saint Joseph
College since 1991 and President
of Cashel House, Ltd. (retail)
since 1985.
- ---------------------------------------------------------------------------------------------------------------------------------
DR. ROBERT M. GAVIN Director 2002 1986 Dr. Gavin is an educational 70 Dr. Gavin is a
(age 62) consultant. Prior to September Director of Systems
1, 2001, he was President of & Computer
Cranbrook Education Community; Technology
and prior to July 1996, he was Corporation.
President of Macalester College,
St. Paul Minnesota.
- ---------------------------------------------------------------------------------------------------------------------------------
DUANE E. HILL Director 2001 2002 Mr. Hill is Partner Emeritus and 70 N/A
(age 57) a founding partner of TSG
Capital Group, a private equity
investment firm that serves as
sponsor and lead investor in
leveraged buyouts of middle
market companies. Mr. Hill is
also a Partner of TSG Ventures
L.P., a private equity
investment company that invests
primarily in minority-owned
small businesses.
- ---------------------------------------------------------------------------------------------------------------------------------
PHILLIP O. PETERSON Director 2002 2000 Mr. Peterson is a mutual fund 70 N/A
(age 58) industry consultant. He was a
partner of KPMG LLP until July
1999.
- ---------------------------------------------------------------------------------------------------------------------------------
MILLARD H. PRYOR, JR. Director 1996 2002 Mr. Pryor has served as Managing 70 Mr. Pryor is a
(age 70) Director of Pryor & Clark Director of Infodata
Company (real estate Systems, Inc.
investment), Hartford, (software company)
Connecticut, since June 1992. and CompuDyne
Corporation
(security products
and services) and
Corcap, Inc.
- ---------------------------------------------------------------------------------------------------------------------------------
JOHN K. SPRINGER Director 1996 2002 Mr. Springer served as Chairman 70 N/A
(age 71) of Medspan, Inc. (health
maintenance organization) until
March 2002.
- ---------------------------------------------------------------------------------------------------------------------------------
</Table>
(1) Term of Office: Each officer and director may serve until his or her
successor is elected and qualifies.
(2) The Hartford Mutual Funds, Inc.
(3) The Hartford Mutual Funds II, Inc.
201
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
BOARDS OF DIRECTORS AND OFFICERS INFORMATION (UNAUDITED) -- (CONTINUED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
INTERESTED DIRECTORS AND OFFICERS
- ---------------------------------------------------------------------------------------------------------------------------------
TERM OF NUMBER OF
OFFICE(1) AND PORTFOLIOS IN
POSITION HELD LENGTH OF FUND COMPLEX OTHER
WITH THE TIME SERVED: PRINCIPAL OCCUPATION(S) OVERSEEN BY DIRECTORSHIPS
NAME AND AGE COMPANIES MF(2) MFII(3) DURING PAST 5 YEARS DIRECTOR HELD BY DIRECTOR
- ---------------------------------------------------------------------------------------------------------------------------------
THOMAS M. MARRA(4) Director and 2002 2002 Mr. Marra is President and Chief 70 Mr. Marra is a
(age 44) Chairman of Operating Officer of Hartford member of the Board
the Board Life, Inc. He is also a member of Directors of The
of the Board of Directors and a Hartford Financial
member of the Office of the Services Group, Inc.
Chairman for The Hartford
Financial Services Group, Inc.
("The Hartford"), the parent
company of Hartford Life. Mr.
Marra was named President of
Hartford Life in 2001 and COO in
2000, and served as Director of
Hartford Life's Investment
Products Division from 1998 to
2000. He was head of the
company's Individual Life and
Annuities Division from 1994 to
1998 after being promoted to
Senior Vice President in 1994
and to Executive Vice President
in 1996. Mr. Marra is also a
Managing Member and President of
Hartford Investment Financial
Services, LLC ("HIFSCO") and HL
Investment Advisors, LLC ("HL
Advisors").
- ---------------------------------------------------------------------------------------------------------------------------------
LOWNDES A. SMITH(4) Director 1996 2002 Mr. Smith served as Vice 70 N/A
(age 63) Chairman of Hartford Financial
Services Group, Inc. 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.
- ---------------------------------------------------------------------------------------------------------------------------------
DAVID M. ZNAMIEROWSKI(4) President and 1999 2001 Mr. Znamierowski currently 51 N/A
(age 42) Director(5) serves as President of Hartford
Investment Management Company
("HIMCO"), Senior Vice President
for Hartford Life, Inc., and
Senior Vice President and Chief
Investment Officer for Hartford
Life Insurance Company. Mr.
Znamierowski is also a Managing
Member and Senior Vice President
of HIFSCO and HL Advisors. Mr.
Znamierowski is Group Senior
Vice President and Chief
Investment Officer for The
Hartford.
- ---------------------------------------------------------------------------------------------------------------------------------
ROBERT W. BELTZ, JR. Vice President 2002 1993 Mr. Beltz currently serves as N/A N/A
(age 53) Vice President Securities
Operations of Hartford
Administrative Services Company
("HASCO"). He also has served as
Assistant Vice President of
Hartford Life Insurance Company
since December 2001.
- ---------------------------------------------------------------------------------------------------------------------------------
</Table>
202
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
BOARDS OF DIRECTORS AND OFFICERS INFORMATION (UNAUDITED) -- (CONTINUED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
INTERESTED DIRECTORS AND OFFICERS
- ---------------------------------------------------------------------------------------------------------------------------------
TERM OF NUMBER OF
OFFICE(1) AND PORTFOLIOS IN
POSITION HELD LENGTH OF FUND COMPLEX OTHER
WITH THE TIME SERVED: PRINCIPAL OCCUPATION(S) OVERSEEN BY DIRECTORSHIPS
NAME AND AGE COMPANIES MF(2) MFII(3) DURING PAST 5 YEARS DIRECTOR HELD BY DIRECTOR
- ---------------------------------------------------------------------------------------------------------------------------------
KEVIN J. CARR Vice President 1996 2001 Mr. Carr has served as The N/A N/A
(age 48) and Secretary Hartford's Assistant General
Counsel since 1999, Counsel
since November 1996 and
Associate Counsel since November
1995. Mr. Carr is also Vice
President and Assistant
Secretary of HL Advisors and
HIFSCO and Assistant Secretary
of HIMCO.
- ---------------------------------------------------------------------------------------------------------------------------------
WILLIAM H. DAVISON, JR. Vice President 2002 2002 Mr. Davison is a Managing N/A N/A
(age 46) Director and Director of the
Funds Management Group of HIMCO.
Mr. Davison is also a Senior
Vice President of HIFSCO and HL
Advisors.
- ---------------------------------------------------------------------------------------------------------------------------------
TAMARA L. FAGELY Vice 2002 1993 Ms. Fagely has been Vice N/A N/A
(age 44) President, President of HASCO since 1998.
Controller and Prior to 1998, she was Second
Treasurer Vice President of HASCO. She has
also served as Assistant Vice
President of Hartford Life
Insurance Company since December
2001.
- ---------------------------------------------------------------------------------------------------------------------------------
BRUCE FERRIS Vice President 2002 2002 Mr. Ferris serves as Vice N/A N/A
(age 47) President and a Director of
Sales and Marketing in the
Investment Products Division of
Hartford Life Insurance Company.
- ---------------------------------------------------------------------------------------------------------------------------------
GEORGE R. JAY Vice President 1996 2001 Since 1987, Mr. Jay has served N/A N/A
(age 51) as Secretary and Director, Life
and Equity Accounting and
Financial Control, of Hartford
Life Insurance Company.
- ---------------------------------------------------------------------------------------------------------------------------------
RYAN JOHNSON Vice President 2002 2002 Mr. Johnson has served as Vice N/A N/A
(age 42) President and a Director of
Sales and Marketing in the
Investment Products Division of
Hartford Life Insurance Company
since 1999. He was previously
with Guardian Insurance Company
in New York City.
- ---------------------------------------------------------------------------------------------------------------------------------
STEPHEN T. JOYCE Vice President 2000 2001 Mr. Joyce currently serves as N/A N/A
(age 44) Senior Vice President and
Director of the Institutional
Products Group for Hartford Life
Insurance Company. Previously he
served as Vice President
(1997-1999) and Assistant Vice
President (1994-1997) of
Hartford Life Insurance Company.
- ---------------------------------------------------------------------------------------------------------------------------------
</Table>
203
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
BOARDS OF DIRECTORS AND OFFICERS INFORMATION (UNAUDITED) -- (CONTINUED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
INTERESTED DIRECTORS AND OFFICERS
- ---------------------------------------------------------------------------------------------------------------------------------
TERM OF NUMBER OF
OFFICE(1) AND PORTFOLIOS IN
POSITION HELD LENGTH OF FUND COMPLEX OTHER
WITH THE TIME SERVED: PRINCIPAL OCCUPATION(S) OVERSEEN BY DIRECTORSHIPS
NAME AND AGE COMPANIES MF(2) MFII(3) DURING PAST 5 YEARS DIRECTOR HELD BY DIRECTOR
- ---------------------------------------------------------------------------------------------------------------------------------
DAVID N. LEVENSON Vice President 2000 2001 Mr. Levenson serves as Senior N/A N/A
(age 36) Vice President of Hartford Life
Insurance Company's Retail
Product Management Group and is
responsible for all retail
product management and
profitability. He is also a
Senior Vice President of HIFSCO.
Mr. Levenson joined The Hartford
in 1995.
- ---------------------------------------------------------------------------------------------------------------------------------
JOHN C. WALTERS Vice President 2000 2001 Mr. Walters serves as Executive N/A N/A
(age 41) Vice President and Director of
the Investment Products Division
of Hartford Life Insurance
Company. Previously Mr. Walters
was with First Union Securities.
He is also a Managing Member and
Executive Vice President of
HIFSCO and HL Advisors.
- ---------------------------------------------------------------------------------------------------------------------------------
</Table>
(1) Term of Office: Each officer and director may serve until his or her
successor is elected and qualifies.
(2) The Hartford Mutual Funds, Inc.
(3) The Hartford Mutual Funds II, Inc.
(4) "Interested person" of each Company as defined in the 1940 Act because of
the person's affiliation with or equity ownership of Hartford Investment
Financial Services, LLC or affiliated companies.
(5) Director of The Hartford Mutual Funds, Inc.
The Statement of Additional Information (SAI) includes additional information
about fund directors and is available upon request without charge by calling
1-800-843-7824 or writing:
The Hartford Mutual Funds
P.O. Box 64387
St. Paul, MN 55164-0387
204
PRIVACY POLICY AND PRACTICES OF
THE HARTFORD FINANCIAL SERVICES GROUP, INC. AND ITS AFFILIATES
(HEREIN CALLED "WE, OUR, AND US")
This Privacy Policy applies to our United States Operations
We value your trust. We are committed to the responsible:
a) management;
b) use; and
c) protection;
of PERSONAL INFORMATION.
This notice describes how we collect, disclose, and protect PERSONAL
INFORMATION.
We collect PERSONAL INFORMATION to:
a) service your TRANSACTIONS with us; and
b) support our business functions.
We may obtain PERSONAL INFORMATION from:
a) YOU;
b) your TRANSACTIONS with us; and
c) third parties such as a consumer-reporting agency.
Based on the type of product or service YOU apply for or get from us, PERSONAL
INFORMATION such as:
a) your name;
b) your address;
c) your income;
d) your payment; or
e) your credit history;
may be gathered from sources such as applications, TRANSACTIONS, and consumer
reports.
To serve YOU and service our business, we may share certain PERSONAL
INFORMATION. We will share PERSONAL INFORMATION, only as allowed by law, with
affiliates such as:
a) our insurance companies;
b) our employee agents;
c) our brokerage firms; and
d) our administrators.
As allowed by law, we may share PERSONAL FINANCIAL INFORMATION with our
affiliates to:
a) market our products; or
b) market our services;
to YOU without providing YOU with an option to prevent these disclosures.
We may also share PERSONAL INFORMATION, only as allowed by law, with
unaffiliated third parties including:
a) independent agents;
b) brokerage firms;
c) insurance companies;
d) administrators; and
e) service providers;
who help us serve YOU and service our business.
When allowed by law, we may share certain PERSONAL FINANCIAL INFORMATION with
other unaffiliated third parties who assist us by performing services or
functions such as:
a) taking surveys;
b) marketing our products or services; or
c) offering financial products or services under a joint agreement between us
and one or more financial institutions.
We will not sell or share your PERSONAL FINANCIAL INFORMATION with anyone for
purposes unrelated to our business functions without offering YOU the
opportunity to:
a) "opt-out;" or
b) "opt-in;"
as required by law.
We only disclose PERSONAL HEALTH INFORMATION with:
a) your proper written authorization; or
b) as otherwise allowed or required by law.
Our employees have access to PERSONAL INFORMATION in the course of doing their
jobs, such as:
a) underwriting policies;
b) paying claims;
c) developing new products; or
d) advising customers of our products and services.
We use manual and electronic security procedures to maintain:
a) the confidentiality; and
b) the integrity of;
PERSONAL INFORMATION that we have. We use these procedures to guard against
unauthorized access.
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Some techniques we use to protect PERSONAL INFORMATION include:
a) secured files;
b) user authentication;
c) encryption;
d) firewall technology; and
e) the use of detection software.
We are responsible for and must:
a) identify information to be protected;
b) provide an adequate level of protection for that data;
c) grant access to protected data only to those people who must use it in the
performance of their job-related duties.
Employees who violate our Privacy Policy will be subject to discipline, which
may include ending their employment with us.
At the start of our business relationship, we will give YOU a copy of our
current Privacy Policy.
We will also give YOU a copy of our current Privacy Policy once a year if YOU
maintain a continuing business relationship with us.
We will continue to follow our Privacy Policy regarding PERSONAL INFORMATION
even when a business relationship no longer exists between us.
As used in this Privacy Notice:
APPLICATION means your request for our product or service.
PERSONAL FINANCIAL INFORMATION means financial information such as:
a) credit history;
b) income;
c) financial benefits; or
d) policy or claim information.
PERSONAL HEALTH INFORMATION means health information such as:
a) your medical records; or
b) information about your illness, disability or injury.
PERSONAL INFORMATION means information that identifies YOU personally and is not
otherwise available to the public. It includes:
a) PERSONAL FINANCIAL INFORMATION; and
b) PERSONAL HEALTH INFORMATION.
TRANSACTION means your business dealings with us, such as:
a) your APPLICATION;
b) your request for us to pay a claim; and
c) your request for us to take an action on your account.
YOU means an individual who has given us PERSONAL INFORMATION in conjunction
with:
a) asking about;
b) applying for; or
c) obtaining;
a financial product or service from us if the product or service is used mainly
for personal, family, or household purposes.
This Privacy Policy is being provided on behalf of the following affiliates of
The Hartford Financial Services Group, Inc.:
American Maturity Life Insurance Company; Capstone Risk Management, LLC; First
State Insurance Company; Hart Life Insurance Company; Hartford Accident &
Indemnity Company; Hartford Administrative Services Company; Hartford Casualty
Insurance Company; Hartford Equity Sales Company, Inc.; Hartford Fire Insurance
Company; Hartford HLS Series Fund II, Inc.; Hartford Insurance Company of
Illinois; Hartford Insurance Company of the Midwest; Hartford Insurance Company
of the Southeast; Hartford International Life Reassurance Corporation; Hartford
Investment Financial Services, LLC; Hartford Investment Management Company;
Hartford Life & Accident Insurance Company; Hartford Life and Annuity Insurance
Company; Hartford Life Insurance Company; Hartford Lloyd's Insurance Company;
Hartford Securities Distribution Company, Inc.; Hartford Series Fund, Inc.;
Hartford Specialty Company; Hartford Underwriters Insurance Company;
Hartford-Comprehensive Employee Benefit Service Company; International Corporate
Marketing Group, LLC; New England Insurance Company; Nutmeg Insurance Agency,
Inc.; Nutmeg Insurance Company; Nutmeg Life Insurance Company; Omni General
Agency, Inc.; Omni Indemnity Company; Omni Insurance Company; P2P Link, LLC;
Pacific Insurance Company, Limited; Planco Financial Services, Inc.; Property
and Casualty Insurance Company of Hartford; Sentinel Insurance Company, Ltd.;
Servus Life Insurance Company; Specialty Risk Services, Inc.; The Hartford
Income Shares Fund, Inc.; The Hartford Mutual Funds II, Inc.; The Hartford
Mutual Funds, Inc.; Trumbull Insurance Company; Trumbull Services, L.L.C.; Twin
City Fire Insurance Company; Woodbury Financial Services, Inc.
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ITEM 9. 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 were no significant changes in the Registrant's internal
controls or in other factors that could significantly affect these
controls subsequent to the date of their evaluation, including any
corrective actions with regard to significant deficiencies and material
weaknesses.
ITEM 10. EXHIBITS.
(b) Section 302 certifications of the principal executive office
and principal financial officer of registrant.
99 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 18, 2003 By: /s/ David M. Znamierowski
-------------------------
David M. Znamierowski
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 18, 2003 By: /s/ David M. Znamierowski
-------------------------
David M. Znamierowski
Its: President
Date: June 18, 2003 By: /s/ Tamara L. Fagely
-------------------------
Tamara L. Fagely
Its: Vice President, Controller and
Treasurer
EXHIBIT LIST
99.CERT 10(b) Certifications
(i) Section 302 certification of principal executive officer
(ii) Section 302 certification of principal financial officer
99.906CERT 99 Section 906 certification of principal executive officer and principal
financial officer